The Business Mag by Prashant Jobanputra

Business Your comprehensive startup guide

the

Mag

SPRING 2012

national enterprise network

More powerful than a nine-to-five: Why you should launch your venture now Where to find funding â&#x20AC;˘ Grow your own way â&#x20AC;˘ Smartphones: a buzzing sector Plus health, co-working, dressing for success, startup superheroes & technology In association with

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means business

Contents

money Making

Features

from smartphones

Get Suit, Wear Suit, Fly Now may not be the time to make a fast buck but it could be perfect for going it alone, argues Dave Waller

It’s Not all About the Money How Cornish surf brand Finisterre is riding the growth wave its own way

Phone Fever Rebecca Burn-Callander tracks sectors that are thriving on the back of the smartphone boom

You Can’t Keep Them Down Bruno Bayley examines our taste for the temporary and the continuing success of the pop-up

regulars 13 14

Editorial

BizBites Tips, tools and tactics for growing your business

Books From planning to people… top tomes for your library

Meet the Team

143 Diary of an Entrepreneur

Life is never dull in the offices of our secret startup

Expert advice 32

A Problem Shared Simon Dolan tackles the question of taking on staff Going for Growth Do we all need to be the boss, asks William Kendall

Legal Matters Jonathan Silverman on keeping creditors in check

COVER ILLUSTRATION BY MATTHEW GREEN

booted: Suited and

Marketing dreams

www.the-business-mag.com



Contents

92 How to 72

Listen & Learn The Business talks to Ulooâ&#x20AC;&#x2122;s Scott Williams about the power and the pitfalls of social media

On the Money From credit cards to crowdfunding, Emma Haslett looks at seven ways to finance growth

Shifting your Office Your step-by-step guide to a smooth move

ď&#x153;´

The Business Mag Spring 2012

The pull of the

pop-up

Business life 104 The Share Option

Dave Waller steps out of his kitchen home office to check out life in a London co-working centre

in Peckham

108 Suit Yourself

How much does what you wear determine your business success? Rhiannon Vivian investigates

114

Food for Thought Fire in the right fuel and the long hours will take care of themselves

“For me, it’s about the support network.” “I started up my business two years ago and it’s good to know that there is a resource there that can help you in terms of tax, insurance or legal advice. There are only two of us which means there is a limit to our knowledge. Being part of the IoD gives you a support network, it gives you resources and it gives you confidence.” Matt Jones, Game Plan Solutions Ltd, Member since 2010

To find out more about how membership of the Institute of Directors can support you and your business, call the team on 020 7766 8888 quoting SU001A or visit www.iod.com for more information.

Contents

The

121

122

Business

Invest in Yourself How a change in diet and lifestyle has kept publisher Jarvis Smith in business

Mag

EDITORIAL Editor Dave Waller Assistant editor and sub-editor Sian Campbell

Hot Stuff From a bulb to a brew, some office treats to brighten up your work space

DESIGN & PRODUCTION Art and production director Marc Silver Design Karin Rees & Sasha Bunch Photography and research Daniel Frangiamore

Tech corner 129

132

134

Sky’s the Limit Scale, power and flexibility… it’s time we all put our heads in the Cloud Boost your Ratings Justin Gayner looks at how using video content can push your website up the Google rankings Top Gear Our pick of the office tools that mean business

Last thought 144

The Taxonomy of Company and Brand Names

134

122

Home office

treats

PUBLISHING Publishers Justin King Justin.king@kinglionmedia.com, Jarvis Smith Jarvis.smith@kinglionmedia.com Financial administrator Annette Jarvis, Annette.jarvis@ kinglionmedia.com Production Joanna Lynn, Joanna.lynn@ kinglionmedia.com Jo Habgood, Jo.habgood@ kinglionmedia.com Sales Director Steve Rossiter Sales executives Roger Bailey, Denise Horn, Livia Di Palma King Lion Media Ltd, Liberty Court, Unit 1, 101-103 Bell Street, Reigate, Surrey RH2 7JB. Tel: 01737 237900 Website www.the-business-mag.com Printed by Wyndeham Please offer this copy for someone else to read, or recycle The Business Mag is published quarterly and is an independent magazine produced by King Lion Media

KingLion m e d i a

In association with

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The Business Mag Spring 2012

Whatever your business needs, Canon has a range of products to help you deliver professional quality results, every time. With over 70 years involvement in imaging technologies, Canon offers the largest and broadest end-to-end range of imaging products. Reliable and easy to use, we’ll help you to be more productive whether you’re in the ofﬁce or on the move.

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The PIXMA MX435 is a Home & Office All-In-One with fax, fully integrated 30 page ADF and Wi-Fi connectivity. Strong business features, combined with photo-lab quality prints and ease of use make it ideal for the home office, or small branch office. Designed for anywhere This compact, stylish All-in-One with built in Wi-Fi connectivity, is perfectly placed to help you print, copy, scan and fax from virtually anywhere in the home or office. Apple AirPrint support allows you to print directly from iPad and iPhone. Space-saving design The compact FastFront design means paper and ink cartridges can be loaded from the front of the printer – making it easier to fit into a busy work space. Quick Start functionality means it’s ready to go seconds after switching on. Value for money For further savings you can print more for less, with the high yield Canon XL cartridges, which offer 50% lower cost per page.

The PIXMA MX715 is an All-In-One high quality photo printer with 35 page duplex ADF. Ethernet, Wi-Fi and Apple AirPrint allows for multi-user use and printing from almost anywhere. The MX715 is ideal for printing on the go. Ideal for home and ofﬁce Wi-Fi and Ethernet connectivity make this stylish black All-InOne easy for everyone to share and print, scan, copy and fax from virtually anywhere in the home or ofﬁce. Apple AirPrint support allows you to print directly from iPad and iPhone. High-speed document handling Large double-sided documents can be automatically scanned, copied or faxed with the fully integrated, 35-sheet Duplex Automatic Document Feeder (DADF). Economical, single Ink tanks For greater economy, the PIXMA MX715 has 5 single ink tanks. When a colour runs out, only this single tank needs replacing. Easy to work with A 6.2cm colour TFT display makes it easy to view selected functions and preview images. The Dual Function Panel features LED-lit dual purpose keys. These keys change appearance according to the mode selected, for simple operation.

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Time-saver The i-SENSYS MF5980dw boosts productivity with its 33 ppm output speed and class-leading First Copy Out Time of less than 8 seconds. There is also minimal waiting time for print outs, thanks to Quick First-Print technologies. The 50-sheet Duplex Automatic Document Feeder for scanning, copying or faxing double-sided documents, together with the optional cassette that expands paper supply capacity up to 800 sheets, also ensure faster and more efﬁcient working.

Wi-Fi connectivity For easy connection from anywhere in the workgroup, the i-SENSYS MF8380Cdw is Wi-Fi compatible and integrates seamlessly into your wireless network.

One touch, ease of use The intuitive 5-line LCD display presents more information on screen, so users make the most of the available functions. For even greater ease of use, there are one touch solution keys that allow quick scanning direct to your PC. Accelerate workflows Distribute your documents faster and more efficiently using Canon’s SEND functionality. With this you can scan direct to email, a network folder or a USB memory key. In addition, Compact PDF compression technology creates smaller files – up to a tenth of the size achievable with standard compression – without compromising quality, making it much easier to send and share documents.

Send and share Save time and be more productive by distributing your documents using Canon’s SEND functionality. This enables you to scan and send documents direct to email, a network folder or a USB memory key. Sending and sharing documents is also made easier by using Compact PDF compression technology to reduce files to around a tenth of the size achievable with standard techniques with no impact on quality. Save energy and money The superior energy efficiency of the i-SENSYS MF8380Cdw will reduce your costs – and your carbon footprint. Energy Star compliant, its Typical Energy Consumption (TEC) is among the lowest in its class. Thanks to Canon’s On-Demand fixing technology it has market-leading, low energy consumption in sleep mode, without compromising on performance.

To ﬁnd out more about our range of products or to buy online, please visit www.canon.co.uk/onlinestore

Trading places handling everything from toys to tangerines, online b2b marketplace Alibaba.com helped Tosh take off

avid McLagan loved collecting mementos of his many journeys around the world but was always disappointed at the quality of the gifts available to bring home and was sure he could produce something better. So he and his wife Alison set up Tosh, which now supplies stylish tourist gifts to retailers such as John Lewis and Debenhams and museums and galleries like the British Museum and London Transport Museum. Tosh began selling canvas prints of stylised versions of global icons through a shop in Putney in 2002 and over the next four years developed the range of souvenirs. At first they sourced all their manufacturing in the UK and were impressed with the turnaround times and the scope for developing bespoke products. As the company grew, though, it became more difficult to deal with volumes cost effectively with UK suppliers. “We became aware of Alibaba from about 2007 onwards because the name kept coming up through internet search results. The move into sourcing some of our products abroad was a natural part of

our business cycle to improve profitability,” David explains. He has found Chinese manufacturers sourced through Alibaba.com have been particularly good at offering volumes cost effectively so now he keeps several supply chains open in China, India and the UK, each providing different products. “There are some things we could not make here, like plastics, as a

Tosh’s David and Alison (above right) use Alibaba.com (right) to source manufacturers to produce a range of stylish souvenirs

ADVERTISING FEATURE

Need Suppliers? We Supply Them plastics industry does not exist in the UK. We find our suppliers mostly through Alibaba but also through the Canton Trade Fair,” David explains. It is at trade fairs that David searches for new and inspirational products. “I recently came across a new product at a trade fair in China which was perfect for us. I sourced a manufacturer on Alibaba.com and we are developing it now.” David and Alison have big plans for Tosh going forwards: “We are in the process of securing investment in the business which should go a long way to helping us expand and diversify into new markets such as France and the US – especially with our kids’ range.”

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Welcome

DAVE WALLER

editorial

The Business Mag

Clive Moore

t’s a fascinating time to launch a magazine to help startups. Just as social media and cloud technology are destroying the barriers for new ventures, so the economy conspires to make everything a massive pain in the balance books. While this shifting landscape drives many people further into the safety of the nine-to-five, for others it’s created a springboard into the unknown. Whether you’ve jumped or been pushed, there’s plenty in the first issue of The Business to guide your ascent. As well as some of the best young writers around, we have tons of tips from those who’ve made that leap a success: from self-made millionaire Simon Dolan to Morphsuits, Channel Flip and Finisterre, not to mention the wave of companies springing up on the back of the smartphone boom. Whether talking venture capital with surfers or Twitter with a digital strategist, one common theme is the importance of honesty: these days business is about being true. In that spirit I should probably acknowledge two things: first, I’m clearly not a suit guy. And second, that I’d be an idiot to sit here and tell you that starting a business right now will be easy. But you should go for it. As our columnist William Kendall reasoned when we discussed the wisdom of a small team creating a mag right now: “What else are you going to do?” ■

DAVE WALLER, EDITOR

www.the-business-mag.com



Contributors

this issue’s

Business Team the

Mag

SIMON DOLAN

WILLIAM KENDALL

Our resident startup doctor was thrown out of school at 16, but now sits on The Sunday Times Rich List and has business interests in music, publishing, airlines and financial services, turning over nearly £100m. “If you have a big idea, I’m on hand to set you on the path to success,” he says.

A serial entrepreneur and organic farmer, William led the teams behind New Covent Garden Soup Co and Green & Black’s. Nowadays he thinks, writes and speaks a lot about the entrepreneurial process. In his first column he suggests a wise alternative to going it alone: find a partner with a good idea.

Rebecca Burn-Callander

Rebecca is perfectly placed to cover the tech sector springing up around the smartphone: she describes herself as a “newshound, editor, code writer, prolific tweeter and fire-stoker”. There must be an app for that. She is web editor at Management Today.

Emma Haslett

Rhiannon Vivian

matthew green

The writer of our how-to feature on funding has been writing about small businesses for the past five years and can now comfortably distinguish between contract hire and hire purchase without having to refer to Google. That trick isn’t as popular at parties as you might think.

Rhiannon writes for newspaper supplements and consumer weeklies, including Times Online and Woman’s Own, and has penned three features in this issue – on dress, diet and gadgets. She’s now impeccably attired, pumped full of vitamins and proud owner of a solar-powered USB abacus.

Green has complemented our business fashion feature with his beautiful hand-drawn illustrations, capturing the elegant lines of a woodcut print. But when it comes to his own work gear, he’s all about comfort before style. “While creating these illustrations I was mainly wearing cotton,” he says.



The Business Mag Spring 2012

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Is your business ready to join the online accounting revolution? By Ed Molyneux, CEO and co-founder of FreeAgent (right) If you’re starting a new business, the chances are you’ll be using online services to help get your venture off the ground – whether it’s internet banking, data backup or social media. But for managing your accounts, you may be more hesitant to embrace the online world. Maybe you feel you’re better off using complicated software or baffling spreadsheets, rather than putting all your sensitive financial information online. Or perhaps the complicated ins and outs of the tax system make you feel you’ll need to pass anything to do with your books over to a specialist accountant? That’s how I felt when I started up in business and that’s why we founded FreeAgent. We recognised that for small businesses, keeping on top of the books was harder than it needed to be. So we designed our software to be accessible online, and specifically to meet the needs of start-ups and small businesses. We wanted to make it as easy-to-use and jargon-free as possible. Online, or Cloud, accounting is a liberating experience. It lets you access your figures from anywhere you have an internet connection, backs up your data securely online and software upgrades are done automatically. FreeAgent is provided on a monthly subscription basis, so you avoid the large upfront costs typical of software installations. With FreeAgent, you can send professional

FreeAgent actually makes it easier for accountants to review their clients’ books

invoices, automatically chase payments, collaborate in real time with your accountant, see an instant view of your finances and forecast your tax bills. So you’re not just getting a simple tool for managing your books; it’s actually an important strategic tool for your business. It’s also important to remember that online accounting does not make the role of an accountant obsolete – and many accounting firms recommend FreeAgent to start-ups. One such accountant, Chris of Maslins Accountants LLP, explains: “FreeAgent actually makes it easier for accountants to review their clients’ books. It ensures that the basic accounts can be checked swiftly and securely – which then allows more time to collaborate with clients and provide insightful business advice about their finances.” Thousands of start-ups and freelancers have joined the online accounting revolution, and for many it is a transformational experience, putting them firmly in control from the beginning and allowing them to feel confident about their company accounts. Isn’t it time you put your head in the Cloud? You can try FreeAgent for free at www.freeagent.com or call us on 0800 288 8691 to discuss your requirements.

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bizbites Tips, tools and tricks to turn your business idea into a thriving, profitable operation

THOMAS BOWLES

The Bowler Tweeting his whereabouts to a growing legion of fans, Jez Felwick serves premium meatballs outside King’s Cross station. Next up: finding a permanent base.

Get a load of these

Three businesses to inspire with that startup spirit

Juna Juices Christian Kaufholz founded this natural juice company after visiting his wife Angela Arévalo’s Colombian home and being blown away by the fruit. The tiny Juna Juices team now peddles mango, lulo, mora and guanábana from Bogotá to Berlin, Barcelona and London, with 5p from every sale going to Colombian farmers for organic certification.

Double Fine The US video game studio went to crowdfunding site Kickstarter in February, hoping to raise $400k for a new adventure game. It’s now up to $3.4m. How? By granting investors inside access to its development process. “Holy cow,” wrote founder Tim Schafer on his website. “Marvel at what a bunch of regular people can accomplish if they get organised!” www.the-business-mag.com

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BIZBITES 60

do it in a minute

start a business

Write a business plan. Make it succinct, realistic and professional, even if it’s just for use in-house. Remember: those initial ideas are only a launch pad, so be ready to change. Conduct some informal research. Talk to customers you’d potentially target and get their feedback. Understand the basic numbers: Your lifetime value per customer should be at least three times what it’s going to cost to get them in. How big are you aiming to become and how quickly, and how much cash will you need this year to break even? Set up a good accounting system before you start. And yes, this may well involve learning Excel. Think of a company name and register an appropriate domain name. Think search engine optimisation – can you get further up the Google ranks? Register as a business at HMRC.gov.uk. Set up a company bank account to keep your startup capital away from your pocket money. Have someone who’s not your nephew design a website. And a logo: think simple, scalable and memorable.

Necessary evils: Health & Safety signs To be displayed in vehicles, all premises, and at each entrance with the words ‘No smoking: it is against the law to smoke in these premises’. Failure fine: £1,000. Cough. The Health and Safety law poster needs to be displayed in a ‘prominent position’ in your office. Or dish out the equivalent leaflet to each employee.

Got a new product? Slap a patent on it. Find out more at ipo.gov.uk. Get insured! Purchase the required policies prior to your official launch. Build a basic product. Don’t wait to make it perfect as you’ll be changing and adapting it anyway. Get out there and start selling. Return to your business plan and update it. Having real figures makes pitching to investors easier and makes you a more viable proposition.

A fire exit sign must be above each door, including the main entrance, that could be used to evacuate staff. See firesafe. org.uk.

NICKU

quote

❛

Many of life’s failures are people who did not realise how close they were to success when they gave up Thomas Edison www.the-business-mag.com



BIZBITES

your click fix

revolution.is

evernote.com

Every week, a new first-person story to motivate you to trust your gut, break rules and pursue your dreams. From child soldiers in the Congo to musicians advocating foolishness, it should add some kick to your morning Cornflakes.

Evernote’s tagline of ‘Remember everything’ will come as a siren call to any muddle-headed entrepreneur. It allows you to collate your own written and audio notes alongside photos and stuff cut from websites – and to sync it all across platforms and share with your colleagues. Think of it as a scrapbook, albeit without the nostalgic thud-and-push of a Pritt Stick.

informationisbeautiful. net Bored of using the same old bar graphs to present your data? Draw inspiration from a site offering ‘ideas, issues, knowledge, data – visualized’. Once you’ve seen everything from swine flu to snake oil presented as a mindblowing graph, your own presentation skills may go off the chart.

Several failures didn’t deter Henry Ford, who went on to produce the Model T and revolutionise car production

Henry ford

On the Ford website you won’t find any mention of its founder’s previous automobile-related business write-offs, but he had crashed and burned more than once. In fact, Ford wisely regarded failing as an encouraging opportunity to begin again, “this time more intelligently”. The engineer spent the first chunk of change he got from investors without producing a car at the end. When he finally did make one, his Detroit Auto Company went bankrupt. His 

The Business Mag Spring 2012

business manager, James Couzens, said that Ford was thrown out of so many offices in Detroit that he once sat on the curb and wept. But he never gave up. If he had, we’d never have met his big breakthrough: the Model T in 1908. It cost a mere £540, less than half the cost of the standard car of the day, and revolutionised production forever. Thanks to his determination, Ford is now remembered as an arch price-slasher, time-saver and risk-taker. Talk about drive…

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Business apps to share your workload

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The Business Mag Spring 2012

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BIZBITES

have you thought about?

cutting out the middleman US standup Louis CK tried a noble experiment in 2011: offering the video of his latest live show for direct download, without the usual copy protection, for just $5. His fans would get an hour of new material for a quarter of the usual price, and he wouldn’t have to share his spoils with distributors. The question: would people still just download it for free? Nope. Within two weeks CK had made $1m. Not every business has the clout of a top comic, but anyone can benefit from a guerilla approach and a dose of honesty. CK split most of the cash between charity, his production team and his kids. The rest? “I will do terrible, horrible things with and none of that is any of your business.” What an upstanding man.



Five Things to learn from: Bebo

Choose partners wisely. AOL bought Bebo for $850m and much fanfare in 2008 – yet held back on investment. This was

fatal. While Facebook was busy proving the power of social media, Bebo dropped from 24 million users, to just 9.2 million in 2010.

Timing is everything. The world economy nearly collapsed months after the deal, and AOL changed CEO. Bebo found itself off the priority list.

Don’t alienate your fans. In February 2008 Bebo revamped its look, to what one irritated

Know your industry. The company wasn’t hot at listening to user feedback or doing market research, and failed to keep pace with core features. It lacked the focus of MySpace, or the cross-generational appeal of Facebook. Bebo’s kids simply grew up and moved on.

user described as loads of “apps and crap”. Loyalty waned, and users started looking elsewhere.

Beware the domino effect. Once users started bailing, so did the advertisers. Bebo lives on but it’s a follower now, not a leader.

www.the-business-mag.com



BIZBITES

How to close a deal

Build a strong relationship. A deal is a long series of small steps leading up to that ‘yes’.

Do your homework. Be clear how you can give them what they need.

Be honest. If you need tricks, you’re not ready to do the deal.

Stay firm on your price, but push the benefits: this is who we are, and what we do better than anyone else.

Enjoy objections. Overcoming each one takes you a step closer to closing.

Create urgency to beat stalling. They need it – now!

9 10

for the sale, 7 Ask and be persistent.

Shut up while they decide.

Get beyond ‘yes’. Move things along quickly to a solid commitment.



Don’t be scared to walk away. It’s one of the best weapons you have.

The Business Mag Spring 2012

{Pithy}

“The entrepreneurial spirit is about creativity, optimism, street smarts. In other words, playing MacGyver, but for business” Tony Hsieh, CEO of Zappos.com (@zappos)

{Savvy}

“You’re not the only one.We heard customers were missing the soy porridge, so we’re bringing it back next month!” (@starbucksUK)

Lesson One:

business tweets

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how we did it

❛SUITED & BOOTED



The Business Mag Spring 2012

Morphsuits co-founder Fraser Smeaton talks about the unleashing of a global phenomenon

n 2006 I was on a boys’ weekend in Dublin with my brother Ali and our flatmate Gregor Lawson. We were dressed up in these ridiculous full-body dance suits. The reaction was incredible: 100 people took pictures of us walking down the high street. The same thing happened when we wore them on a skiing holiday. We’d always believed in the power of marketing and had been trying some online businesses of our own, building

BIZBITES

Social media plays a huge part in marketing the morphsuits, with the company running regular photo competitions of people messing about in them (right). Its Facebook page is now a “community of ridiculous fancy dress” with close to one million likes

test sites cheaply using Indian outsourcing, and using Facebook for promotion. One night, on the way home to work on our zero-revenue business, it hit us: why don’t we apply our branding skills to this instead? We had no hugely new idea, it was just about seeing where the problems were: the suit cost $100, was too thick to see out of and too hot. And no one had any idea they existed. With no capital it was a matter of trying everything as cheaply as possible till we knew what worked. We invested £3,000, got a Chinese factory to make 200 suits and printed morphsuits.com on the bum. That was our best marketing decision: for every one we sold we’d sell three more. We built a site for £600, spent £400 on branding and posted the suits to people ourselves. They sold quickly, so we made and sold 2,000 more. To launch it we took eight yellow suits to the rugby sevens in 2009. We saw people typing the URL into their phones there and then. And we started advertising on Facebook. We worked hard optimising our adverts, targeting festival-goers and stag parties. For Halloween we produced 10,000 suits. We all had other jobs at the start so we outsourced everything apart from project management and marketing. It turns out that’s a good way to manage your cashflow. It also made it all incredibly scalable. The Americans and Aussies love partying, so we altered the site, changed the Facebook ads and kicked it off there too. We now sell in 15 countries and the US is 60% of our business. We made £1.2m in

the first year, £4.5m last year and are set to turn over £11m this year. Only now are we having to take on more people – an FD and a marketing assistant. People who want a morphsuit are always the life and soul of the party, so our Facebook presence had to tap into that. We figured if they showed photos or video of themselves pratting about in their morphsuit, it would be to likeminded people and the whole thing would go viral. We live in fear of the day someone robs a bank wearing the suit. It hasn’t happened yet, but a young Norwich City supporter wore one to a match and was battered by rival fans. He told the BBC he loves his morphsuit too much to stop wearing it. ■

www.the-business-mag.com

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Expert advice

a problem shared

As your business expands, so do demands on your time, but can you afford to employ someone to help? simon dolan has the answers to your business problems. Simon is author of How to Make Millions Without a Degree and founder of SJD Accountancy

My T-shirt printing business is doing really well, but I can’t afford to employ anyone to help me till I’ve got more muscle behind the business. How do I get that when I’m already so stretched?

Got a business dilemma? Email Simon at thebusiness@kinglionmedia.com

Andrew Gentilli

Employing staff is a massive step, but without it you will never have a business. So, what to do? First, recognise that everyone in business has gone through this, and it always means that you will earn less money initially because you now have a wage to pay. This is frustrating, because in the short term you know it would be quicker to do the

work yourself than teach someone else. The payoff in employing staff comes a few months down the line, and it can be a very big payoff if you get the right people. With all that in mind, are you sure you can’t afford someone? If you are this busy and still not bringing in enough sales to pay for a member of staff, then perhaps your business model isn’t sustainable. You’ll find a way – you’re an entrepreneur. Think about all the tasks you don’t like or you’re no good at, and create a job spec around them. Most likely it’ll be basic things that a school leaver could do, freeing up your time for more important things. If you’re really pushed for cash, an intern is a great way of getting cheap help while you assess how valuable they could be to the business. ■



The Business Mag Spring 2012

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Expert advice

going for growth

Why buying in skills at the top of your business could be the key to expansion william kendall is an investor in early stage businesses and an adviser to many organisations experiencing rapid change. He led the teams which built New Covent Garden Soup Co and Green & Black’s

am amazed how many people want to start a business – whether I’m talking to sixth formers, addressing business school audiences or in the company of the rising stars of larger organisations, it seems everyone wants to set up on their own.

❛❛

up a disappointingly small proportion of the total of new enterprise. Although there are plenty of reasons why companies don’t grow, including lifestyle choices, the principal cause, in my experience, is an absence of the right skills at the top. We think that the best companies started with a brilliant idea but, more often, they were founded on a half-baked plan. And they stayed alive long enough for this to be modified into something that worked. This successful evolution rarely happens in organisations without talented management teams. I stress teams because often the founder finds it hard to make the changes on their own. We might all be better off if many of these budding entrepreneurs were to join forces rather than insist on going it alone. I have never started a successful business but I don’t feel I’ve missed out on the entrepreneurial experience. I have run new businesses for much of my career. Founders should search hard for like-minded people who can share the load. All the evidence suggests this will improve their chances of success significantly. For the same reason, prospective founders should contemplate cold-calling any new startups they admire to offer their complementary skills to the owner. Chances are they need it. ■

Founders should search hard for like-minded people who can share the load. All the evidence suggests this will improve their chances of success significantly

❛❛

All this enthusiasm is heartening, but I worry that if everybody does what they say, there won’t be enough people to work in all these new companies. Clearly our economy is in desperate need of entrepreneurial spirit – without the new jobs it will generate we are probably finished as a major economic power. Research shows that most proper new jobs are created by fast-growing businesses, but such organisations make

www.the-business-mag.com

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ADVERTISING FEATURE

SUPPORTING ENTERPRISE IN OUR COMMUNITIES

he City of London Corporation is committed to supporting enterprise within the Square Mile and across our neighbouring boroughs. Whether you’re a small business seeking advice on how to sell to City businesses, or an individual looking for help from City professionals before moving into selfemployment, we deliver a range of support to help you reach your goal. The City Business Library – open to all with no membership required – is the UK’s leading public library for business information, helping entrepreneurs by providing free company, market and country data, DIY B2B mailing lists and free workshops. The Innovation Warehouse, a business incubator in Smithfield, provides accommodation plus networking and training opportunities, mentoring and advice on accessing finance. By supporting the Enterprise Europe Network London, we help

small businesses export, access EU funds and develop technology partnerships. As a core sponsor of ‘Entrepreneur First’, we’re helping to make launching a startup an exciting career option for top graduates. As well as being a major landlord, we invest in workspace specifically for small businesses and our City Property Advisory Team helps businesses find premises in and around the Square Mile. We run a dedicated programme – Angels in the City – to increase the pool of angel investment from individuals in the City into new and growing businesses, especially in the ‘Tech City’ cluster on our doorstep. We also host a small loan-making charity, the Samuel Wilson Loans Trust, which lends to young entrepreneurs across London. To find out more information, visit www.cityoflondon.gov.uk/ businesssupport

Expert advice

legal matters

Why it pays to do your homework on your customers when the orders roll in Jonathan T R Silverman is a commercial partner with Silverman Sherliker LLP, a London-based law firm that specialises in the SME sector

Jonathan is offering our readers free initial online advice for any business issue. Email jtrs@ silvermansherliker.co.uk

ER_09

ringing in those first customers can be a real thrill. But keeping a firm grip on creditors is essential for your business to be successful and sustainable, especially when everyone’s feeling the pinch. So when you get that first order from any new customer, you need to so some rudimentary checks. It may sound obvious, but establish with whom you’re contracting. Is the customer a sole trader, a partnership or a limited liability company? Get that wrong and you could have a real problem in enforcing any contract or suing for your money. Wherever possible make sure the customer signs an order form so there’s no ambiguity about what you’ve agreed to supply and how much they’re paying. Ensure you have straightforward and clearly stated terms of business covering such matters as payment terms, retention of title and liability limitations. Make sure that whoever places the order has authority to commit their company – this may require a diplomatic approach.

Don’t let your customers extend their credit lines unilaterally. Instead insist that your invoices are paid on time within your specified terms of business – whether that’s seven, 14 or 28 days. If a bill isn’t paid on time, find out quickly if the customer has a genuine grievance. Non-paying customers usually fall into one of two categories: they can’t pay or they won’t pay. Either way it isn't good for you and swift action is essential. Be careful about using debt collection agencies, which may be insensitive towards your customers. It’s better to use a practical law firm that understands your sector. There are plenty out there that offer quick and cost-effective debt recovery action. ■

www.the-business-mag.com

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Books Planning and people, surfing and stealing… some riveting reads for your business library

DIY days Start Your Business in 7 Days: Turn your business idea into a life-changing success James Caan £12.99, Penguin Portfolio The TV Dragon reckons we can all create a business in a week. At least he thinks seven days is long enough to work out whether you have all the parts in place for your venture to succeed. It’s pitched well between strategy theory and a rallying cry to get off your backside and find potential buyers for your product. Ignore the odd selfcongratulatory moment and there are plenty of nuggets.



The Business Mag Spring 2012

Who knows? Too Big to Know: Rethinking knowledge now that the facts aren’t the facts, experts are everywhere, and the smartest person in the room is the room David Weinberger £17.99, Basic Books If that title has your head swimming, it’s probably the least of your worries: in the Internet age, we may have instant access to networks, communities and a vast ocean of knowledge and ideas, but the shifting tide can be so overwhelming we either drown or decide not even to dip a toe in at all. ‘Internet philosopher’ Weinberger shows how the concept of knowledge is changing, and how you can use it to make smarter decisions than you could when all you had to go by were good old books, experts and magazines.

People watching

business classics The plan

The Rare Find: Spotting exceptional talent before everyone else George Anders £14.99, Portfolio Anyone growing a business on a budget needs to make recruitment count. But how do you recognise the people who’ll really make a difference? Anders reckons the typical selection process is too fixed on people’s ability with a spreadsheet and won’t spot the truly promising candidates. He chats to everyone from Green Beret recruiters to tech pioneers to see how they do it. You



On the shelf

Awakening the Entrepreneur Within: How ordinary people can create extraordinary companies Michael E Gerber £10.99, Harper Business

may not be able to afford an official ‘puzzle master’ like Facebook, but the ideas will help you see beyond the boredom of another ‘works well alone or in a team’ CV.

Light fingers, lightbulb moments Steal Like An Artist: 10 things nobody told you about being creative Austin Kleon £7.99, Workman Running your own business is a creative endeavour, but it’s all too easy to have that spark pounded out of you with hours spent on Excel and squabbles with the supply chain. Kleon is an artist, but this intimate and hip book could act as a bolt of inspiration to anyone whose business relies on their creativity. We all know that nothing is truly original (that’s an old idea in itself). The distinction here: some ideas are worth stealing, others aren’t.

Gerber thinks entrepreneurs tend to be all about great ideas – without knowing how to make them work. Sound familiar? The good news is he presents a plan of how to sort out the nuts and bolts so you can focus on the bigger picture.

It’s a ride Let My People Go Surfing: The education of a reluctant businessman Yvon Chouinard £16, Penguin The Patagonia founder wrote the book on building a company on your passions, and putting your people before profit. If your business mojo is struggling under a mountain of bills and red tape, this’ll remind you why you’re doing it.

quick read How To Read A Book: The classic guide to intelligent reading Mortimer Adler and Charles van Doren £9.99, Touchstone The key problem of business books is finding time to read the bloody things. This 1940 classic will teach you how to draw those nuggets out of the material in the shortest time. You just have to read it first.

www.the-business-mag.com

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The Business Mag Spring 2012

Special report

Get suit, wear suit, fly Starting a business in these straitened times may well be a sign of super strength, not madness, argues Dave Waller Illustrations: Matthew Green www.the-business-mag.com

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Special report

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admire more than almost anything the bravery of those who turn their back on the security of a regular wage to follow their dreams and start a company.” Not, as you might expect, the words of a t-shirt-clad beanbag dweller like Mark Zuckerberg, but of our own prime minister, revealing his hands-on-pumps take on ‘popular capitalism’. “If you take a risk, quit your job, create the next Google or Facebook and wind up a billionaire, then more power to your elbow.” As a rallying cry for a cash-strapped country, it works. But we know it’s not that easy. With the fortunes of the Eurozone spiraling ever downward, security is a gilded concept these days. While the CIPD recently released figures saying there are 4.14 million people in self-employment in the UK, the report’s author also pointed out this included a lot of people “without skills, picking up whatever bits and pieces of work are available”, whose emergence “hardly suggests a surge in genuine entrepreneurial zeal”. Less a proud nation of shopkeepers then, and more a bunch of Granvilles.Yet this is the backdrop against which you’re ditching the safe pay cheque of the nine-to-five to start a business. The PM may think you’re brave to be doing so, but aren’t you a bit mad too? Well if your venture is designed to secure you a villa in Monaco then

probably, yes. These times of sluggish growth and tight margins aren’t ripe for a fast buck. “In the boom time your startup could go from nought to 60 in about three seconds,” says John McLaren, who as chairman of Barchester Group has advised countless young businesses in the UK and US. “Now, unless you’ve got a truly transformative business like Apple, there’s no get rich quick for you or your investors. So if you’re going after £1.5m investment from angels or venture capital, and you’re calculating decent returns in three to five years, then that’s likely to be rubbish.” Yet McLaren is quick to point out that this is how business used to be. In the 19th century, if someone set up a factory, they weren’t thinking how to sell it to private equity in five years. It was about building a dynasty they could pass on to their sons. “If you want to build a real company, then this isn’t a bad time at all,” he says. “It just may take five to 15 years.”

These times of sluggish growth and tight margins aren’t ripe for a fast buck www.the-business-mag.com

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Special report

Indeed, for those in it for the long haul and the right reasons, this may actually be a better time to be setting up a company than even the boom years. Ubiquitous technology now makes connection with customers, suppliers and contacts both cheap and easy for anyone.Yes, banks are reluctant to stump up cash (although they’re hardly known for waving the chequebook around in the best of times), but these days you just don’t need the old levels of investment to get off the ground. The environment may feel risky, but the risks in setting up yourself are actually diminishing: there’s never been a cheaper time to borrow or a worse time to save. Meanwhile opportunities haven’t dried up as much as shifted. “There’s still dynamism,” says The Business columnist and ex-Green & Black’s leader William Kendall. “I let out small flexible office space on my farm. Is that empty? No. It’s simply been taken by new applicants. It used to be people upsizing from small operations, now it’s people downsizing. Either way, they’re still operating, and I’ve still got business.” But as the landscape shifts, it’s not only the nature of opportunity that changes. So too do the norms of work. One of the major effects of the recent economic turmoil has been to destroy the old image of large organisations as sturdy and unshakeable providers – and it’s not just the vast swathes of the public sector who have lost their sense of job security. It’s not so hard to take that leap when the building you work in may fall down any minute. “In the last five years the idea that big companies are safe and insulated from threats has been shattered,” says Jennifer Harris, whose strategy 

The Business Mag Spring 2012

these days you just don’t need the old levels of investment to get off the ground

big hitters like penguin and specsavers all launched when times were tough

consultancy JRBH has shifted its focus onto corporate governance as a result of recent trends. “The perception of big business is now worse than it has been for a long time. Meanwhile modern communication encourages a greater desire for honesty and openness, which is easier when you’re small. Hence people are taking smaller businesses more seriously and placing greater trust in them.” Software engineer Ed Bicknell has experienced the shifting work environment first hand. He’s found his existing work consulting the automotive sector becoming impossible to guarantee from day to day. At the same time he’s spotted a hunger among cash-strapped businesses for new cost-effective software to help their operations run more smoothly. So he now does two things at once – with one foot still in his uncertain consulting work, he’s busy building his own offering, Meliorate Software. “It’s a balance of risk,” says Bicknell. “Both as to whether or not the

new product will work, and on a personal level: do I take the plunge completely, or work on two things at once? There’s no point in me going to my bank manager saying I want £500k for something until I know it’ll work. So until then I’m employing one skill set for company A, in an environment that’s fluctuating, while also learning about marketing, IP and company law working on my own project. But there’s no easy way – it takes dedication and commitment and belief in your vision.” The reassuring fact for the likes of Bicknell is that this road isn’t such a vast unknown. Big hitters like Penguin, Hewlett Packard, Specsavers and Wikipedia all launched when times were tough. It makes sense: if you can make your business work in a downturn, then you know you really have something solid on your hands. Meanwhile the conditions may leave rivals spending less on marketing, and their customers, like Bicknell’s, more open to truly innovative alternatives. It’s also worth noting that there are no guarantees in

www.the-business-mag.com

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Special report

Go for it. I did business even in the best of times – plenty of companies go belly-up in a perfectly warm economic climate. Not that the PM would want you to shout about that too much. He’s still dreaming of the next Facebook. At least the government is putting its money where its rhetoric is. The latest budget included an extension to the National Loan Guarantee Scheme, providing small businesses with loans at a 1% discount to banks’ normal rates – £20bn in guarantees will be available in the new SME fund. An above the line R&D tax credit for all businesses was announced, and the 50p tax rate dropped down to 45p. Putting all the macro-economic business aside, the simple fact is that people launch ventures for a host of reasons, not just making money. It could be a matter of ego, genes or the need to prove something to their mother. Or simply because the other options no longer cut it. “The City isn’t cool any more,” says McLaren. “I’ve met young bankers who are socially embarrassed by their job. People go a bit quiet around them at parties, like they’re an undertaker. Plus they’re tired of that Faustian pact, of getting money in exchange for their youth. Others don’t want to give their lives to Shell. People want to be in control of their own destiny, and they want a crackle of excitement in their work, not the corrosive feeling of that traditional management structure.” Given the choice of the uncertainty of doing something you love, and uncertainty of doing something because someone is paying you to, we think the former should win hands down every time. Whatever the conditions, if you have a sound proposition, you can make it work. That’s what being an entrepreneur is all about. ■ 

The Business Mag Spring 2012

follow your instincts says Bright Station’s Dan Wagner This is as good a time as any to start a business. And I’ve done it at terrible times in the economy myself, so I practise what I preach. I took on the liability of boo.com after the dotcom crash in 2001, the worst possible technology climate, and created Venda (now used by a range of organisations from Tesco to the Royal Mail, the BBC and Fort Knox). Giving up the normality of your existing job to jump into the unknown is fraught with risk. So the macro-economy actually becomes positive for the entrepreneur when things turn bad. When I invested in my first business in 1984, I was on the dole, so I had no reason not to start a business and make a success of it. Access to capital is the biggest constraint to startups. I had to build my first business without any money. These days it’s easier to get started without capital, meaning you can wait and approach angels only once you’ve built something to show them. That’s far better than going: “Here’s an idea on paper, please give me £50k.” The big problem here is lack of support. It’s the entrepreneur’s style to be driven by their optimism to go out and become a success. At 16 I was working with Julian Richer from Richer Sounds. I saw he was young and was doing it, so I figured I could too. But it’s rare to find people in the UK saying “that’s a brilliant idea, you should give everything up and do it”. It tends to be: “Oooh, are you sure?” This creates doubt, which translates to a lack of confidence. But confidence drives entrepreneurs. With it, people are capable of extraordinary things. My advice? Ignore everyone, follow your instincts and trust your own ability. There’s always an excuse not to, so why not go for it?

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Door drops from retailers embraced by consumers Consumers like to receive door drops more frequently from retailers than any other sector, research has revealed. A new study for Royal Mail Door to Door revealed:  92% of consumers are happy to receive unaddressed mail from retailers  81% said their preferred frequency was up to twice a month. A quarter said they are happy to receive unaddressed retail mailings a few times a week  Door drops from FMCG brands are next most popular with consumers. Some 74% are happy to receive mailings up to twice a month, compared to 50% for restaurants and 46% for local services. The study, conducted by FreshMinds Research, explored consumer attitudes to receiving unaddressed communications through the post. It also revealed the strong cut through delivered by door drops. Some 89% of consumers remembered receiving a door drop in the previous two

weeks. This is more than any other marketing channel. Only 80% reported recalling a TV or radio advert. And 45% keep leaflets on a pinboard or in the kitchen drawer. Philip Ricketts, Royal Mail’s Head of Strategy, Marketing and Sales for Door to Door, said: “This research shows the

People remember receiving a door drop more than any other form of marketing numerous strengths of door drops. Key is the fact it is a physical and tactile media, making it highly memorable. It is also very popular with consumers who can keep it in a visible place and refer to it when required. This is particularly important when you consider we are all becoming increasingly adept at filtering information via screen media.

“Unaddressed communication is an especially valuable way of delivering information that is locally relevant. It is set to play an increasingly important role in local communications with the footprint of local newspapers in decline.” Royal Mail Door to Door, in partnership with Digital Space, recently launched a solution to help businesses make their post interactive using digital watermarking technology. A digital watermark can be embedded into pictures on leaflets and mailings enabling marketers to integrate their print and online material without the need for barcodes or QR codes. Combining state-of-the-art technology with history and heritage enables people to link from their post to a company’s online content, such as a website, video or Facebook page, in seconds. People receiving the digitallyenhanced post simply scan the mail with their 3G phone to start an online journey.

Profile

Dave Waller charts the progress of a company that was thrown off course by the siren call of the venture capitalists but is back riding the growth wave its own way

It’s not all about the money I 

The Business Mag Spring 2012

average business philosophy is all about growth and saying stuff the consequences,” Ernie says, presciently given the sub-prime shenanigans about to shake the world. “It doesn’t have to be like that. We’ve had six or seven venture capital guys in the past year saying they could make us millionaires. We’re like: ‘this is a long-term thing.You can’t just milk the brand and run’.” ▲

t’s the summer of 2008 and the phrase ‘current economic climate’ has yet to become part of the everyday business lexicon. Ernie Capbert, the US-born co-founder of Cornish surf brand Finisterre, is sitting opposite me in the company’s clifftop workshop, sharing the battered sofa with Happy, the office canine (and founder of the company’s Wolf Pack). “The

Set up by “four dudes and a dog”, Ernie (top left) and the Finisterre team have shunned big bucks in favour of big hugs, building up an ethical business based on customer loyalty and love of the product. Happy the dog (left) leads the Wolf Pack

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‘ When the giants of venture capital roll their way, even the most gung-ho dreamers may get swept along by the lure of cash, scale and direction. And it may not be the ride they were promised ’

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The Business Mag Spring 2012

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It’s certainly hard to imagine how the City boys, with their acquisitional swagger, could ever hope to ‘get’ Finisterre. The 2008 vintage Ernie proudly describes it as “four dudes and a dog”, the car park home to nothing worth more than £400. Customer communications are signed off with ‘big hugs’, and web orders include a biscuit for the customer’s mutt, addressed to them by name. The whole business is built on doing things differently: rather than join the race to the top of the money mountain, this team will shut up shop and go surfing. Fast-forward to 2012. Ernie’s still on the sofa, and his eyes still beam like he’s spent his life mainlining cartoons, but his tone has changed. Finisterre has taken some nasty dings – and not just from the economic climate. In the intervening years the brand was taught a lesson that’s pertinent to any entrepreneur looking to grow their company, whatever the conditions: when the giants of venture capital roll their way, even the most gung-ho dreamers may get swept along by the lure of cash, scale and direction. And it may not be the ride they were promised.

“We came into this space because we were geed up and had an idea,” says Ernie, now older and wiser, reflecting on his past bullishness. “We were running off that adrenaline, off the emotions and excitement, thinking you didn’t need all the systems that underpin business. We were just trying to rewrite the book.” Not that the experiment was a failure. Far from it: in trying to rewrite the book, Finisterre penned a story that was genuinely compelling. At the centre sat the product, hardy yet stylish outdoor gear crafted with care and detail, made with pioneering natural fibres (by a Portuguese social enterprise not Chinese sweatshops), designed to act as a vehicle for the company message: that we can all be doing things better. The aim was to be a truly sustainable company, one that emphasised community and responsibility. Growth would come from reinvesting profit one year into product the next, its reputation enhanced by ambassadors like big-wave surfer Carlos Burle. These underground heroes endorsed the brand in return for “absolute peanuts”, simply because they fell in love with it. The team scooped an Observer ethical fashion award in 2008, and was invited to speak with Al Gore at sustainability conferences. All of which gave the team the balls to tell the money men where to stick it. Initially, at least. Yet with success came a key realisation about growth. It’s hard. Having ignored some of the fundamentals of business planning, the company lost its focus and began to provide gear for everything from yoga to cycling – resulting in “a smorgasbord” says Ernie. “Our product was going all over the place,” he adds. “We were designing stuff as we wanted to, not for the core demographic, and we soon found ourselves drifting. Any company making a success of this space, like cycle brand Rapha, has been through the mill in the past. We were wet behind the ears.” With that lack of focus, those ears would prove more susceptible to the siren call of venture capital in late 2009, when the giants came rolling into view again. The suits said they’d seen this sort of thing countless times. With their input,

Profile

Ernie (far left) discovered that growth is hard and Finisterre briefly drifted off course until it began to refocus on quality clothing and its core demographic, ably assisted by the man behind the imagery, David (below)

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Created for rugged outdoor use, Finisterre clothes are made from ethically sourced recycled and natural fabrics and produced by a Portuguese social enterprise

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The Business Mag Spring 2012

‘ In trying to rewrite the book, Finisterre penned a story that was genuinely compelling. At the centre sat the product, hardy yet stylish outdoor gear ’ says. “He talks about you in plurals, it’s all ‘we’ and ‘us’. Meanwhile he’s saying how he makes millions and that he knows how to make tough decisions. Then there’s the bulldog, who gets the best margins by using the cheapest factories, and the numbers dude, who’s tapping away at the calculator, offering help for 15% equity. Then he tells you your numbers aren’t as good as he thought, and pushes it up to 19%. Soon you’re switching to a bad factory and changing your marketing, and they’re asking for 40%.” Finisterre didn’t sign any equity away, but they did start to make changes. The suits pointed out that Snow & Rock sold a lot of running gear: “OK, we’ll make

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they said, Finisterre could be the next big outdoor brand, like high-street staples North Face or Snow & Rock. Without it, they didn’t stand a chance. The dreamers duly paddled their boards towards the rocks and the deadly seduction began. “We’re tight in this office, but even we started thinking some of the stuff they’re saying was a good idea,” says Ernie. “They had that focus we were lacking, so we started agreeing to things. At that point we still hadn’t signed anything, but they were planting all these ideas of what we could achieve. Our cash flow was tight, so they easily broke down our barriers and gave us a hankering for their promises of commerciality, scale and leadership. Soon they’ve got us going: ‘My god, we could become a proper big company.’ They said we should be turning over £10m a year by 2014.” Ernie may now be wise to the venture capitalists’ ‘good cop, bad cop’ approach, but that doesn’t mean it winds him up any less. “First comes the diplomat,” he

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Profile

The Finisterre ethic is not about aggressive marketing. Its aim is to be a truly sustainable company that emphasises community and responsibility, with customers buying into its ‘awesome message’

compromised your message, your vision and your product.” Finisterre were fortunate enough to realise where the tide was taking them and got out before they signed any equity away. Since then they’ve been regrouping on their own terms: for the past six to 12 months the company has been working on minimising those quality issues, tightening their focus and keeping their original fans happy. “The bad guys are gone and we got the place back,” says Ernie, who’s now writing to anyone threatening to unsubscribe from the company’s communications, explaining what’s been going on. On the plus side, the tumultuous process has delivered them what they were lacking in the first place: focus. “In all that mess we realised what the company is,” Ernie says. “We’re a cold-water surf company, here to make those tricky spots more accessible to people, no matter where in the world.” But the problem wasn’t just about flogging too much yoga

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some fucking running gear,” says Ernie, reliving his response. They began to switch from natural to synthetic fibres. Gone were the handwritten letters that went out with orders. No more Boneos for Rover. The product started coming in late, and the tone of the marketing changed, the two-for-one offers becoming more conspicuous. Even the most idealistic company has to accept that business is all about growth. But if you start making changes when your whole thing is based on close relations with people buying into your ‘awesome message’ (Ernie reckons he spoke to every one of the company’s first 2,000 customers), you may soon find yourself surfing a sewage outlet without a board. “That’s when even loyal customers break,” says Ernie. “You can imagine the thought process: ‘I didn’t say anything when it became not quite as refined. I still didn’t say anything when I saw you were doing yoga kit. And now you’re saying aggressively that I have to be buying something all the time? I used to love this place…’ Shake hands with too many devils and you find you’ve totally

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gear. What about the other catalyst in all this: growth? “We’re back to having a cool place and growing it at an organic, beautiful pace,” he says. “It feels good. We’re aiming to turn over around £5m in five years and this is in no way aggressive.” Of course, there may be venture capitalists reading this who still believe they can convince this crew to ditch their ideals in favour of world domination. “We’ve had approaches, but there’s no chance of us going down that route. We could’ve learned the hard way, but luckily we didn’t. We said, ‘this can’t happen’.” Instead the team is exploring other options, like crowdfunding. Ernie reckons they need to raise £400k for the next phase, and just a few thousand people could make that happen. “There are enough people out there who love the brand,” says Ernie. “It would move us much closer to that base, getting back that high transparency with customers.” Which is good news for the Finisterre family, but bad news for Happy: he may have to share his biscuits again. ■ 

The Business Mag Spring 2012

Temporarily seduced by promises of riches, the Finisterre folk are back to providing an individual and personal service to their loyal customer base, and are pursuing growth at an “organic, beautiful” pace, exploring finance options such as crowdfunding

Ernie’s tips on how to handle venture capital 1. Know who you are, and have this tight. If you don’t, they will spread you and your brand out like very little butter over a big piece of bread. 2. Need their money, but never their leadership. You know your company better than anyone. 3. Make sure you like everyone getting involved, and ask to meet anyone who may have a say. Any funny feelings you have, just show them the door. 4. Beware of anyone who over-uses plurals.

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Phone

fever Rebecca Burn-Callander examines 15 sectors capitalising on the smartphone bonanza Illustrations: Greg Owen

martphones are big business. Some 472 million of them were bought across the globe in 2011. Apple sold 37.04 million iPhones in the first three months of 2012 alone – and 982 million smartphone sales are forecast by 2015. But hulking tech giants Apple, Google, Microsoft et al are also straddling a sub-economy, a hive of entrepreneurs and businesses making a crust from a secondary smartphone market. These nimble, fast-growing ventures don’t sell phones, they make cool stuff that goes inside them, tech that makes the hardware even smarter and products that sex up the bodywork. Without the sprawling smartphone industry, none of these firms would exist. But they also add colour and diversity to a sector sewn up by a handful of big players. In some cases, they’re even outinnovating the billion-dollar caps.

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The Business Mag Spring 2012

Smartphones

Touchscreen gloves It’s colder than a yeti’s extremities and you need to send a text. Your be-gloved fingers jab uselessly at your touchscreen. Calamity! Luckily, some bright sparks have come up with gloves with conductive thread woven through the fingers. The main brands are Touchies (£6-7), or the Etre models: Fivepoint (£40) and Touchy gloves (£35). Etre’s first 2,000unit order sold out in three days. And for gardeners, skiers and bikers, for whom wool is not enough, entrepreneur Phil Mundy devised the iPrint, an adhesive strip that attaches directly to the polyester or leather glove finger.

Firms like these add colour and ‘diversity to a sector sewn up by a handful of big players ’

Skins and peels an image or choose a design and get your skin in a matter of days) and corporate contracts (big names may distribute branded skins in a marketing campaign). Set

up in 2008 by Alex Meisl, the business is run entirely over the web with minimum overheads. He only employs four staff – and turns over £250,000 a year. ▲

These are the sticky covers and prints that turn your iPhone from zero to hero. Firms like London-based Skins4Things specialise in print-on-demand (upload

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Trading in for cash With owners constantly looking for richer experiences with better models, smartphones have become a tradable commodity. One of the biggest moolah for mobile players is Mazuma Mobile. As of January 2012, 51% of all phones traded in to the Herts-based firm were smartphones, up from

Pimp your phone The smartphone accessories market is huge. In 2010, the industry was valued at $26.5bn, a figure set to double by 2015. From cases and docks to earbuds, solar chargers, even bolt-on bottle openers, there are countless ways to soup up your smartphone. “Cases and protection are a big category for us,” says Mohammed Hussain, MD of online accessories business Mobile Fun, “and smartphones generate 70-80% of our turnover.”

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The Business Mag Spring 2012

27% in 2011. Mazuma and its ilk sell on these rejects in far-flung places to make their money. “The UK is typically two to five years ahead of developing markets such as China and Africa,” says MD Charlo Carabott, “so there continues to be a sizeable demand for second-hand phones in these markets.”

Smartphones

Voicemail 2.0 These days, you can listen to your messages via an app, forward voicemails to friends on Facebook, divert missed call logs to your email (if your phone is out of battery or

service) or create instant voice messages from text. One of the smartest ventures is HulloMail. “In the UK, we spend over 25 billion minutes accessing voicemail per year,”

says founder Andy Munarriz. “I thought that there had to be a better way.” Consumers seem to agree: the app has been downloaded half a million times.

Apps You launch ‘them quickly and build on them fast

’

Mobile payment One of the most exciting developments in smartphone technology is the rise of the phone-as-payment-terminal concept with products that can turn your HTC or iPhone into a chip-and-pin device – a real blessing for mobile traders such as electricians and hairdressers. Jumio, Square and Elavon are among the biggest players in this niche. A word of warning – some mighty big corps are wading in to this market. Don’t do it unless you’re prepared to go up against Visa.

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There are currently 500,000 apps available to buy on iTunes. Some 15 billion have been downloaded to date for the iPhone and Android Market just celebrated its 10 billionth download. Around a billion apps are bought per month from each platform, and almost every conceivable problem or process has an app for it. There are thousands of app-makers in the UK but stiff competition means striking it rich is tough – especially when consumers want most apps for free. Andy Payne OBE is the founder of AppyNation, a co-operative of sorts, bringing together six developing agencies to help increase their chances of creating the next Angry Birds. “It’s massively difficult to be successful,” he admits. “You have to be original and yet familiar and it can cost between £30,000 and £200,000 to create an app. And you can’t spend years building them. You launch them very quickly, see who likes them and then build on them fast.”

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Smartphones

Mobile social network The mobile social network has evolved from the primordial e-soup. Foursquare started the trend – users could ‘check in’ to locations on the go, earning badges for repeat

visits – but now networks like Spottd, née FitFinder (the first iteration let students share the whereabouts of ‘hotties’), let you pinpoint a great pizza joint or Banksy grafitti and

share it live. Or how about Wine Demon, a network for wine buffs that lets you check out a vintage and recommend tipples to pals while sitting in a restaurant.

internet sent Facebook, Twitter ‘andMobile YouTube traffic into the stratosphere ’ Wireless leash Think of these like baby reins for your phone. Whenever you venture too far from your smartphone – usually around 30 feet – a device on your keyring will raise hell. Launched in 2010, the Zomm Wireless Leash works by tethering to your smartphone via Bluetooth. The device also comes fitted with an ear-splitting panic alarm if you get into trouble. It also has a direct link to the emergency services; hold down the ‘z’ button and a prerecorded message will send the police to your location.

Machine to machine

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Imagine getting text messages from your fridge telling you you’re low on milk. Or hearing a small beep at 3am as your phone uploads your gas meter reading to your provider while the wires are quiet. PassivSystems is making inroads into the machine-tomachine market. Its big product of 2011 lets holidaymakers check on their homes to test for frozen pipes and turn heating on and off for their house-bound pets.

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The Business Mag Spring 2012

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Smartphones

Device optimisation

Most websites don’t automatically resize and reorganise themselves for phones. They need a widget to detect whether the incoming user

‘

is on a smartphone, what platform it runs and even the screen size in order to serve up an optimised page. James Rosewell, founder of 51Degrees.mobi, is a pioneer in this field, working first at Vodafone, then, from 2006, for himself. “I think of 51Degrees as a concierge service,” he says. “We deliver the information the customer wants, when and how they want it.” Rosewell has signed a deal with a major content management system that will see his device detection and optimisation IP bolted on to their product offering.

QR Codes These nifty square barcodes may look like physical representations of white noise but they contain a wealth of data, from links to special offers, loyalty points to software downloads. A veritable cottage industry has sprung up around the QR Code, from the apps that read them, to QR Code generators, to bespoke marketing agencies that can tell you what data to embed and where to stick them for maximum visibility and response.

We deliver the information the customer wants, when and how they want it

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Smartphone projectors Optoma Europe is one of the leading manufacturers of these badboys. Its latest model connects to the iPhone to produce an image up to 70 inches wide.

www.the-business-mag.com

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Turn your phone into a pocket cinema. Hook it up to a little projector and you can beam a movie, footie match or PowerPoint presentation onto the wall.

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Smartphones

Classy glass There’s no point in housing a superchip in a phone chassis that can’t withstand a few bumps and splashes. The screen is one of the most vulnerable areas of these pocket computers – but that’s all about to change. Companies like Corning, the manufacturer of Gorilla Glass (used on half a billion devices worldwide) and Liquipel, which has brewed up a waterproof ‘nano-coating’ (smartphones held underwater for half an hour emerge unscathed) are inventing ever tougher, more ingenious and invisible ways of protecting the phone from an accidental death.

‘ Like reality but better Augmented reality is the new buzz-phrase taking the digital world by storm. It is essentially information superimposed on a live picture when a certain product or image is viewed through your smartphone camera. Take an ordinary book about planets, for example. Look at a page 

The Business Mag Spring 2012

embedded with AR markers through your camera and you’ll be able to view, say, an image of the solar system, from all angles, in 3D (Poplar Toys has actually done this). The technology is brand new – and it’s going to be huge. UK startup Blippar only launched last summer and already boasts Heinz,

Look at a page embedded with AR markers through your camera and you’ll be able to view an image from all angles

’

Diageo, Nestle, Tesco and Samsung as clients. And it will probably make founders Ambarish Mitra, Omar Tayeb, Jessica Butcher and Steve Spencer millionaires one day. At the start of the year Blippar secured a ‘six figure’ investment from the wireless technology firm, Qualcomm. ■

ADVERTISING FEATURE

taking caRe of customeR seRvice Companies still aren’t placing enough emphasis on customer service, despite the fact it’s a key driver of growth in today’s climate Neil Colquhoun, Director, Epson UK

esearch by the Epson Business Council shows that only 29% of UK small businesses believe that customer service will be a critical market differentiator in the current climate – a minute proportion compared to businesses in Spain and Italy, of which 84% and 77% think customer service will help them stand out from the crowd. In spite of this, two thirds (66%) of UK small businesses believe that customer acquisition is the only realistic growth strategy in the current climate. Furthermore, many UK companies don’t have the systems in place to support a customer-orientated strategy, with 70% of respondents admitting they do not have an up-to-date customer database. “Companies aren’t placing enough emphasis on customer service, despite the fact it’s a key driver of growth in today’s climate,” says Neil Colquhoun, Director, Epson UK. “UK owners and managers are currently only spending 29% of their working

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week in front of customers, which simply isn’t enough if they’re looking to expand and offer the support many customers demand.” Maintaining a record of customer data was also an issue highlighted in the research, with 70% of UK businesses reporting that it would be a considerable or massive effort to keep an excellent database of customer information during the next year. Companies in countries throughout Europe, however, are capitalising on new technology to aid their customer engagement – 75% of businesses consider modern IT equipment as vital in helping in this area. Again, the UK is lagging behind significantly, with less than half (49%) valuing technology in this effort. Epson’s Colquhoun concludes: “2012 will be an incredibly competitive year for small businesses, and they should look to all resources available to help support their existing and potential customers and drive growth.”

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The Business Mag Spring 2012

Listen & learn Panicking that you should be on Twitter? Struggling with a lack of Facebook ‘likes’? We chat with Scott Williams of Uloo, the wise owl of digital strategy, about using social media… The Business: Social media can seem a minefield to the small business. How should they start? Scott Williams: Many companies just tick boxes – “We’re on Twitter, we’re on Facebook” – with no idea why. They see it as a media buy, and that’s the first mistake. It’s more about who you are and what you do, not what you say. Don’t lie, don’t be unethical, and change – because everything else is changing around you. TB: So it’s about being truthful?

TB: And it’s not just a matter of going on there and banging on about your products either. SW: Don’t think of Twitter as a sales platform. Or even as ‘social media’. It’s just technology that enables a conversation. Would you walk into a strange pub shouting: “I’m amazing, watch this video I just made!”? People would just go: “I’m here having a drink, mate. I’m not interested.” Sit down, and have a chat. The two biggest things ever discussed

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SW: Exactly. Take the poster you see advertising Egypt: “We’re relaxed,” it says. That’s making the assumption that no one has seen the news.You can’t get away with that. They’d be better off saying:

“We have the Pyramids, but we had a revolution and people died at a football match. But we’ll be all right again soon.” For a business all it takes is one influential blogger to pick up on inconsistencies and you’re stuffed.

www.the-business-mag.com

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How to

on Twitter were the World Cup and the Japanese tsunami – neither of those things happened online. It’s just a conversation. TB: So why should a company want to chip in? SW: It’s where the community comes together and decides who’s good and who’s rubbish. So businesses should be listening: see what people are saying about your product and then make it better. Apple made an amazing phone and let everyone else go mental about it. The trick is to do well, so that on social media people are saying good things about you. Then when you do join, they’ll want to be involved. Your social media strategy should be this: how good is your product? That’s it. TB: How do you get people talking if your product isn’t exciting?

SW: I worked with a credit card company that wanted to do stuff on social media. So, I asked, you want more people to like you, buy your product and think you’re ace? “Yes.” Let me give you some context for that: we’re in the middle of a global recession, and you’re a credit card company with an APR of 35%. What’s the point in getting into social media? Why would anyone want to talk about a bank unless it messed up? People in the UK have no interest in becoming a fan of a law firm on Facebook, unless it’s doing something interesting and different. Give away 10% of your profits to charity – there’s a platform to talk to Facebook about. People would see that you’re different, caring and kind, and that’s what they like. I asked this of a make-up company that wanted to get involved in social media: Do you do animal testing? “Yep.” Then don’t even bother. TB: Many of our readers probably see social media as a ‘musthave’ these days though.

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SW: There’s a lot of ‘you have to do x’.You don’t.You just have to understand what’s going on. Companies will chase after Twitter and Face-

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The Business Mag Spring 2012

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How to

‘ No one has a clue. It’s like trying to predict what people are talking about in a pub before you go in ’ book, but they don’t know how their website’s doing. No one’s checking it. Sort that out first. Also, are you in profit? Are you doing OK? Maybe you just need to stick to doing that. TB: You’re less gushing than many social media experts. SW: There’s no panacea for any of this – you may do something that works or it may not. No one has a clue. It’s like trying to predict what people are talking about in a pub before you go in. Things worked because people experimented. It’s like Henry Ford saying: “If I’d listened to everyone else we’d still be on horses.” Do something totally different on purpose. TB: So which companies should we be looking at as examples of doing social media right? SW: Old Spice took big risks with Facebook and Twitter. But it had nothing to lose because its brand was in the doldrums: it revamped the product at the same time and people respected that. Avis Car Hire did research online and found that people were complaining about a lack of satnav in their foreign rental cars. They listened, put satnav in everything, and sales went up 20% in a year. Then there’s Asda Curry Sauce and Betfair Poker, which have both done well on Twitter just mucking about. I’ve been on the internet since 1998, so I’ve seen all the cycles. What are the answers? I don’t have a clue. ■ 

The Business Mag Spring 2012

Dinner dialogue

Emma Healey, marketing and PR exec at Abel & Cole, on how the food delivery firm uses social media We started our Twitter account in February 2009, out of curiosity. We wondered whether our customers were on there and what they were saying about us. There was no strategy: we were simply joining in the conversation. We learned as we went. If people were just making negative comments to friends we wouldn’t get involved – unless we could solve a problem, like amend a stolen delivery. It’s not really that different to existing procedures. We’re still helping customers, only now it’s in public. We have a direct relationship with customers. People have questions about their dinner: “What’s this in my box? It looks like a muddy stick.” “That’s black salsify, it’s actually very tasty, here’s a link to one of our recipes.” Generally we’d have an informal chatty tone in all communications with customers anyway, so it wasn’t too much of a stretch for us to get the kind of tone a friend would have. Twitter’s not about driving sales. It’s not good for that. It’s about better customer service. Getting people’s opinions on new products makes customers more involved and it reassures you that you’re doing the right thing by them. We also have an e-zine with recipes and things, and have been increasing our video output there to improve our click-through rate. We use Twitter to direct people to our YouTube channel and to run competitions. We’re on Facebook too, as a lot of our customers are there. My advice to starter companies is to perhaps not think too much about these online channels until they have content like e-zines to talk about. Put your hands up and discuss any mistakes you’ve made. Be social and share stuff, and don’t be too salesy: people don’t want to be sold to in every tweet. Finally, you have to be prepared that anything could come up. And you have to be willing to have that conversation, as you’ve chosen to be on that platform.

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On the

money With cash hard to come by in these turbulent economic times, Emma Haslett looks at seven ways to finance growth

unning a business is very rarely, as the celebrated social commentator Jessie J once put it, all about the ‘cha-ching-cha-ching’. But when you’re trying to grow your business, money becomes all-important –

‘

Banks aren’t the only route to funding your business

’

particularly if you’ve been turned down by traditional sources of finance. Never fear, though: there are still ways to get your hands on that cash, without having to sit through an uncomfortable session with your bank manager… 

The Business Mag Spring 2012

£ £

£ £ ££

£ £ £

How to

1. Credit cards

Back in 1993, when Will King founded King of Shaves, he says credit was relatively easy to come by. “I reckon I credit carded about £10,000,” he says. There are plenty of stories of gutsy entrepreneurs financing their businesses entirely with credit cards, so it’s not unexplored territory. Why it’s good There are still 0% credit cards around and if you’re clever about juggling your balances, it’s almost like taking out a loan, but without the interest. Why it’s bad You’ll need a decent credit history, and you’ll have to be highly organised. Some APRs leap from 0% to 20% after a certain amount of time, while some credit card companies will raise their interest rates if you miss a payment.

CREDIT CARDS

interest rates CROWDFUNDING

£10 minimum investment

crowdfunding website crowdcube.com, the minimum is as little as £10. Why it’s good “We’re democratising investment,” says Crowdcube co-founder Luke Lang. Because you publicise your funding opportunity, the people you’ll be dealing with will be your suppliers, your customers, your mum – anyone who wants you to do well. And because they’re only giving a small amount away, they’re much more likely to take a risk. Why it’s bad Diluting the amount of equity you hold in your business is a tough decision, particularly if you’re giving it up to (potentially) hundreds of new shareholders. And while it’s easy enough to get people to part with £10, it takes a lot more persuading to give up anything more significant – so you might end up with a lot less than you had hoped for.

3. Asset finance

to rent

2. Crowdfunding

Social media isn’t just for telling people what you had for lunch: it has also created the means to tap into a global network. Crowdfunding works by getting dozens of people to invest a small amount in return for equity. On

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ILLUSTRATIONS BY SASHA BUNCH

It’s not glamorous, but if you’re after equipment, asset finance is ideal. It involves paying an up-front fee for gear like a van or an expensive bit of kit, and then leasing it, with monthly payments. Why it’s good If you need a piece of equipment fast, it’s perfect. Many businesses opt for it because their kit will need to be replaced after a reasonably short time. Under contract hire, for example, you give the asset back at the end of an agreed

www.the-business-mag.com 

How to

period – and it includes running costs like MOTs and tax in your monthly payments. Why it’s bad You’ll probably pay more than the original cost of the thing you wanted – but that’s the price of pay-as-you-go. And if you can’t guarantee cashflow, you’ll be stuck with a monthly bill you can’t pay.

4. Overdraft

BANK

£10,000 from an overdraft Loans aren’t the only way of getting cash out of a bank: a more manageable solution might be an overdraft. Having been made redundant, Dan Taylor set up his marketing company, Corporate Jungle, back in 2008. “We pretty quickly found that we didn’t have much of our redundancy left,” he says. So he

and his business partner took out a £10,000 overdraft. Why it’s good Banks can be more flexible over overdrafts than with loans – so if you’re having a particularly bad month or you have a big project and need to buy new equipment, they can extend it for you.You also only pay interest when you’re overdrawn. Why it’s bad Overdrafts are designed to provide short-term finance, so your bank can demand you pay it back. There are horror stories about businesses asking their bank for a loan, only to have their overdraft shrunk. Banks have also increasingly begun to ask for security for overdrafts. And like loans, they’re becoming more and more difficult to get hold of. Taylor reckons he probably wouldn’t get that amount now.

5. Sweat equity

£20

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When Facebook launched its IPO, graffiti artist David Choe was made a multi-millionaire overnight – because he had agreed to paint the social network’s offices in exchange for shares, rather than cash. That’s how sweat equity works: companies go straight to the services they need, swapping equity in the business for a service. Why it’s good A work-for-equity exchange could be the beginning of a beautiful relationship between yourself and the business you’re working with, and 

The Business Mag Spring 2012

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How to

rating – so if you’ve missed a few payments on your heating bills, your rate will be sky-high. And because the industry is so new, the sizes of the loans on offer are relatively small. Remember, just as with other sources of finance, if you don’t pay your loan off on time, it’ll affect your credit rating.

the fact that they have a stake will motivate them to work hard. If you’re clever about the service you approach, it should also save you money throughout the life of your business. Why it’s bad Giving away equity isn’t a decision that should be taken lightly. Even if it’s just a graffiti mural you’re after, draw up a legal contract. And think carefully about who you swap your services with: if they can’t keep up with your business’s growth, the relationship could sour later on.

7. Issue bonds



The Business Mag Spring 2012

ISSUE BONDS

3% interest

In 2009, as savers pondered whether it would be safer to stuff their cash under a mattress, the founder of King of Shaves, Will King, announced ‘shaving bonds’: £1,000 three-year bonds, paying 3% interest, greater than that offered by the banks. The scheme raised £627,000, and kicked off a rash of copycat schemes from the likes of Hotel Chocolat and Ecotricity. Why it’s good You’re dealing with people who have a direct interest in the business – whether that’s customers or other stakeholders, so you’re giving a little bit back. And don’t underestimate the PR factor. “We got great publicity,” says King. Why it’s bad Your bonds will need to be competitive, paying a higher rate than banks. Depending on the scheme’s popularity, it’s difficult to guarantee how much you’ll raise. King of Shaves’ original target was £5m. “We were the first ones to do it so we had no idea how much we were going to raise,” says King.

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Peer-to-peer lending sites, like Funding Circle, have become an increasingly popular source of funds since banks pulled their shutters down to businesses in 2008. “We allow investors to receive high, stable returns, while businesses gain low-cost finance to expand and develop,” says James Meekings, co-founder of Funding Circle. Why it’s good It’s more of a personal way of looking at finance. The idea is that peerto-peer sites are like a big family: although lenders’ funds may be bundled up to create a loan, you get that warm and fuzzy feeling that comes from paying interest to actual people, rather than a big organisation. Why it’s bad Your interest rate is determined by your credit

equity isn’t a decision that should be taken lightly

’

6. Peer-to-peer lending

‘awayGiving

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The conventional funding routes BANK

Investment Starting a productled business can be expensive, so when Simon Duffy and his business partner, Rhodri Ferrier, came up with the idea for men’s grooming company Bulldog, they knew they’d be forced to work up a sweat in the hunt for potential investors. They didn’t let that stop them. “In nine months, we had maybe 80 different meetings,” remembers Duffy. “We raised over £1m in that first round.” Duffy points out that a business angel will not only give you money, but they’ll also bring a wealth of contacts and experience. However, the investment route is not for everyone: while the experience has been positive for Bulldog, others won’t relish the loss of power that comes with giving away equity.

Friends, family, fools Since Will King started his shaving company, King of Shaves, in 1993, he’s been down just about every funding route available – but to get things off the ground, as well as using credit cards he borrowed £15,000 from two friends, in return for a stake in the business. “They thought, ‘let’s risk it’,” he says. For King, borrowing from friends was ideal. “They were both earning decent salaries, and they thought they would make it less stressful.” Having drawn up a contract with the help of a lawyer, King’s mates benefited as the business grew. But he cautions that you have to be clear with potential stakeholders: “Warn them that if they’re putting in that money, it’s as good as writing it off as lost,” he says.

Bank loan Ex-bank manager Lorraine Ashover took out a £5,000 loan to market her business, Minerva Procurement Consultancy. It’s well documented how difficult it is for businesses to get hold of funding, but Ashover reckons it helped that she had been scrupulous about her finances. “All my banking is in one place, and I run my accounts carefully. I never go overdrawn and I have no personal loans or credit cards,” she explains, although she adds that she provided a personal guarantee for the full amount of the loan. It might have helped that her loan was relatively small, but Ashover adds that getting it was relatively stress-free. “You’d be surprised by just how many loans do get agreed,” she says. ■

www.the-business-mag.com 

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How to

ShiFTing your

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Setting up new premises takes time, disrupts the team, and isn’t cheap. Here we unpack some tips on doing it right…

Know what you’re after Have the image of your ideal office in your head. Shop around, thinking what you need in the longer term, not just right now. Will it fit your growth plans? And does your sober law firm really need that Googleplex gloss?

Call a range of agents to work out rental prices for the area. Finally pick an agent who’ll be able to negotiate well for you. The landlord will have an agent of their own, so you’ll need that muscle on your side.

▲

ILLUSTRATIONS BY SASHA BUNCH

choose your agent

www.the-business-mag.com



How to

get the right contract

Some ‘office

providers offer packages tailored to startups

’

Long-term leases can be inflexible and will count as a liability – which can prove costly when you’re still trying to build your business. Some office providers offer packages tailored to startups.

plan the move properly If you’re moving from office to office, give the process six months – two months of looking, two months of legal hell and two of kitting out the new place. Map the potential impact on the business so there are no ugly surprises.

think support Put someone in charge of the move. It’s their job to liaise with the removals company and communicate their needs to the team.

A professional fit-out firm can handle the nitty-gritty like office layout, IT and telecoms, and putting power points where you actually need them. Ask for case studies and references, otherwise you may end up with a botch job.

do it If moving from one office to another, encourage people to have a good clear-out. Get them their boxes in plenty of time. Schedule the move for a quiet point, starting on a Friday afternoon, and going over a weekend if need be.

tell people Create a list of all suppliers, clients, creditors and debtors and let them know where you are.

design it Consider everything from natural light to communal areas where ideas can blossom. Getting the feel wrong could affect morale and productivity. Get it right and you may even attract better people. ■

GoodMood Photo

■ BOX CLEVER: Give your team plenty of time to pack

fix it



The Business Mag Spring 2012

ADVERTISING FEATURE

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Pop-ups

Why, despite a decade in the limelight and corporates cashing in on the trend, our taste for pop-ups remains…

Written by Bruno Bayley

Vantastic: The Pitt Cue burger pop-up was so successful it spawned a bar and restaurant in Soho

▲

THOMAS BOWLES

hen the pop-up shop term first appeared in the early noughties it was a byword for entrepreneurialism at its rawest, where opportunists turned short-term, often derelict, spaces into dynamic trading outposts. Whatever their nature – bars, restaurants, galleries, even charm schools – pop-ups were defined not only by their temporary nature, but by their vivacity and DIY ethos. The idea of having a short-term place of business comes with obvious advantages, especially when coupled with intensive, inspired advertising: add that element of surprise, urgency and must-see to your product or service, while suffering fewer worries about planning permission, low rent and minimal infrastructure hassles. With these strengths the pop-up serves as a risk-free training run for bigger future plans. Take the Icecreamists, which set up a brief popup in Selfridges in 2009. With the help of Twitter, it generated crazy international press for its ‘subversive’ adult flavours (Viagra ice-cream?). Now, one Baby Gaga breast milk ice-cream controversy later, the chain runs two permanent experiential shops in the centre of London. These days everyone’s at it, from Levi’s to Topshop and even Toys R Us, which opened 600 pop-ups in the US in 2010 to cash in on the trend. At which point you’d imagine the writing was on the wall for the idea. With the corporate giants duly weighing in on what was once the preserve of the creative set, surely the pop-up’s purity and impact has been undermined.Yet it seems the UK still boasts lots of amazing temporary projects to get those entrepreneurial juices flowing. We spoke to four self-starters for whom the pop-up concept was hard to put down.

You Can’t keep 

The Business Mag Spring 2012

them down

www.the-business-mag.com



Pop-ups

pitt cue

Jamie Berger’s meat-filled van, Pitt Cue, was camped out under London’s Hungerford Bridge last year. The experiment was so successful that it led to the launch of the permanent Pitt Cue bar and restaurant in Soho this January, which now has lunchtime queues around the corner. The aptly-named Berger says the key to his success was Twitter. Jamie’s welltargeted use of the platform, and its inherent cyber-democracy, allowed him to build hype prior to the Pitt Cue van opening for trade. Praise from low-level foodies attracted mid-level food bloggers, who in turn hooked professional food writers. Now he’s won himself 3,000 followers, star-studded reviews and a permanent business.

Using Twitter helped Jamie Berger attract customers to his burger van

THOMAS BOWLES, daniel frangiamore

ARTS AND BOOKS

Ben Freeman’s pop-up art exhibitions in derelict shops in Soho and Brick Lane and in his mobile caravan-come-gallery were aimed at London’s Soho shopping crowd. Displaying lighthearted work, the shows attracted supporters who would prove invaluable to other projects. Freeman is now co-owner of the successful print and publishing house Ditto Press, printing books for the likes of the ICA, the Barbican and the Tate. www.the-business-mag.com

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

The Business Mag Spring 2012

Pop-ups

Hard graft by Damian Griffiths (right) and friends transformed two ex-squats in London into a trendy pop-up events venue

Local authorities may not require much paperwork for a bar that will only be open for two months, but it pays to do what’s needed. Eight young people set up the Peckham Hotel at the end of 2011. Based in two ex-squats next to a tool hire depot in Peckham, the venue might have seemed unpromising, but after months of hard graft the team had a place that was booked for events every night it was open, with the likes of indie record label XL Records holding its Christmas bash there. Local authorities like new businesses, and the crowds they attract, but even the most benevolent of councils has to follow the rules. The Peckham Hotel was closed three days earlier than intended as it had crossed lines in planning. ▲

Damian Griffiths

THE PECKHAM HOTEL

www.the-business-mag.com





The Business Mag Spring 2012

Pop-ups

Retailers can lease a ‘box shop’ made out of refitted shipping containers in Boxpark’s ‘pop-up mall’, east London

BOXPARK

With no previous experience of pop-ups save exploring the model as a brand consultant, Boxfresh founder Roger Wade set up Boxpark in 2011. Boxpark is the logical evolution of the pop-up concept, providing mobile shipping containers to retailers on varying leases, from one to five years. It is, in Wade’s words, a ‘pop-up mall’. Brands like North Face, Levi’s, Lacoste and Vans have taken containers in what was formerly a wasteland next to the newly built Shoreditch High Street station. Wade sees Boxpark fitting into a second phase of popups: making use of landlords who have vacant spaces and see temporary retail areas as a convenience. Boxpark’s clients fall into two clear categories: people wanting a short-term space as a means of marketing their product, and those purely attracted by a short-term lease from which to trade as normal. Either way, Boxpark is a sort of pop-up overlord, facilitating other brands’ desires for that temporary fix. ■ www.the-business-mag.com



sense and

ADVERTISING FEATURE

sustainability...

Lloyds TSB Commercial’s head of sustainability, Karen Cook (left), explains why green practices are good for business and the planet

hen you are running a business, it can be difficult to look into subjects such as sustainability that aren’t immediately familiar. But sustainability is a genuine opportunity to examine your businesses practices and tighten them up, to save money and embrace new possibilities. Sustainability is very relevant for all businesses. It’s about the ability to endure, which is obviously important as no business owner sets out to fail. A few key factors will affect the importance of sustainability. The UK population is soaring, for example, and Defra predicts a changing climate for the UK that involves hot, dry summers and longer, wetter winters. Such macro-factors will have an impact on most businesses, whether that’s with the supply chain or customers’ habits. Other changes will be having a more concrete effect already. Rising utility costs make it essential for any cash-conscious business to increase energy efficiency, and ever-evolving regulations relating to carbon emissions or waste management and so on, change the legal framework in which businesses operate. These regulations are starting to affect

a variety of sectors, not just the traditionally high carbon ‘heavy industries’, with the increasing costs of sending waste to landfill taking their toll on many SMEs. But many SMEs aren’t yet thinking about sustainability. It’s similar to the beginning of the internet, when many small shops assumed it wasn’t important for them, and yet now it affects all businesses – even if they just list their contact details on the Web. In the same way, sustainability has impacts of varying degrees but it’s definitely something that businesses should start to consider. This is especially important as competitors might already be thinking about it and making their business more efficient, or targeting a brand new market, as a result. Sustainability brings plenty of benefits. Energy firm EDF states on its website that the average company wastes as much as 20% of the energy it pays for. This highlights the importance of considering what being more energy efficient could do for your bottom line. As such, the first easy win for business is often around efficiency, by perhaps making small changes, such as ensuring unneeded equipment and lighting is switched off when the premises are empty. 

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Look at how much you spend each month on energy and ask whether you are spending more than you need to, and whether you are one of those wasting 20% of what you spend. You could also get a smart energy meter to avoid unnecessary cost on something that’s just evaporating, as this doesn’t make good business sense. A sustainability policy is a useful tool. It could lead to greater employee engagement, better knowledge of how new regulations and legislation might affect your business, and help you to think about new business opportunities, such as being able to tender for local authority contracts or to enter the market for green B2B products. There are wellbeing benefits too: take home-working, which means not sitting at a desk all day, and not getting stuck in traffic heading into city centres. All of the benefits, such as cost savings and new opportunities, can be particularly useful when the economy is so potentially challenging for SMEs. I’ve never heard a company regret looking into it, so get on the front foot and think about sustainability. It’s just good business planning. n Lloyds TSB Commercial has 500 local Business and Environment Managers that can help you build a more efficient and sustainable business. The sustainability website at supportingbusinesses.co.uk/ lloyds/sustainability/ features plenty of useful information, and a tool businesses can use to build an environmental policy. See ‘Green There, Done That’ (right) to see how Lloyds TSB Commercial’s Sustainability Programme has helped one organisation. ■ Lloyds TSB Commercial is a trading name of Lloyds TSB Bank plc and Lloyds TSB Scotland plc and serves customers with an annual turnover of up to £15M

Green there, done that Kevin Frediani, curator of plants and gardens at Paignton Zoo Environmental Park, on striving for a lighter footprint Our environmental commitment covers any business operations that may have an impact: pollution prevention and control, energy efficiency, waste reduction and reduced water use. It began in 1996, when we became an environmental park and started working towards the international environmental standard ISO 14001. We made the link between our work and our wider environmental footprint and its potential impact upon the species and habitats we are trying What we’ve learned: to conserve: zoos use • Change is constant. lots of energy keeping • Establishing a basetropical species happy. line and tracking your We report annually on progress is key. our improvements to an • Communication is external auditor, who the best motivator. assesses our progress against environmental management objectives. We’ve become one of the leading zoos in Europe in terms of the environment. Getting buy-in from our team early on took a lot of education. Meanwhile the public receive mixed messages about climate change and food security, and it’s hard to square this with living in a temperate climate where retailers provide fresh produce yearround at a cheap price. But they’ve become more receptive to making a link between the way we live and its impact on natural resources. Non-change is not an option if we want to continue to share the planet with wild animals and plants. The world is changing and we cannot stand still – this is just the beginning.

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Not everyone’s cut out for spending all day home alone. Dave Waller abandons his kitchen office to sample life in a London co-working centre…

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thought I’d turned my back on all this commute to get there, but the benefits are years ago: squeezing onto a tube train and enticing: all the facilities and discipline then slaloming past the iPod undead to of a regular office without the overheads; take my place at the coalface. But today access to a programme of events; and a I’m venturing beyond my home office, network of like-minded collaborators. that mythical haven of never-ending PG In the US there’s even a choice of ‘vibe’. and PJs, to try co-working. Want to run your small accounFor a fee you can The concept has spread fast tancy practice to a backdrop of since it sprang up in San Francisco trade your home belting techno? Now you can. office for roomy early in the millennium, offering My office for the day is the shared office space to anyone who shared work space Hub in Islington, which since its at the Hub, with needed it. Host centres charge a foundation in 2004 has offered membership fee to freelancers and access to a meeting warehouse-based co-working, room and library, as primarily for those with a social small businesses in exchange for well as a place to desk space and free coffee, wi-fi enterprise bent. It’s a vast, park your bike and printing.Yes you may have to open-plan space with a series

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The Business Mag Spring 2012

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laidback air, and the fact the room is only about a quarter full (it can fit around 50), this place still hums with business. Just beware the Mac-to-PC ratio: it’s around 9:1. But does office banter work with relative strangers? I recall my last office job, in which my editor would loudly express offence that I’d spurned his gift of a pair of novelty briefs. It’s hard to imagine getting of long desks crisscrossing the wooden to that stage here.Yet while I may not be floors, all oxygenating foliage and paper able to offload my unwanted Christmas lanterns. Light pours in through a gabled pants to a despairing colleague, it does glass ceiling, and large windows gift feel like every encounter could easily send views over the city. another professional opportunity my way. I talk to host Anna Levy in the kitchen, Only one snag: I haven’t actually done while people rustle up free teas and cofany work yet. I’m just getting down to it fees around us. “Even the quietest memwhen it’s time for Sexy Salad – the regular ber, who only came thinking they needed Thursday lunch feast. I hover around the desk space, will end up making conneckitchen as everyone busies themselves tions,” she says. I meet Andy, a video creating a feast of goat’s cheese, avocado, editor. Tom writes for More Associates, beetroot and fresh fruit. Everything is a team of sustainability consultants; and shared, and I settle in for an extended Rob runs Hidden City, a company that lunch riffing on cults and therapy. creates trails round London, using Twitter The Hub is definitely not a cult. Trouble to give punters clues. is, you don’t need to be Charles Manson Everyone’s welcome, as long as you to wash this brain of the desire to knuckle buy into the ethos – which leans heavily down. It’s 3pm when I return to my desk, towards the ‘change-maker’ end of the and so far I’ve done bugger all. I wonder earnestness spectrum. Anna tells the tale whether the whole thing’s just been an of an estate agent who came recently, indulgent distraction, until I realise how enthused by the idea of cheap desk space. most of my co-workers have been slaving “I pointed out that we’re more than that,” away all day. Indeed, if I was at home I’d she says. “He couldn’t be bothered with have just started winding down by this the community. But we then point.Yet here once I settle had someone from finance, in I find myself driven by Co-working and when we explained the the atmosphere around me, Do it: values he liked them. He and stay sucked in to work If you’re open to wasn’t a specifically ethical till seven, conducting phone meeting new people business, but he joined and interviews, writing pieces every day. he’s great.” and amassing an enviably If you work better The place feels like Google long list of contacts. Of in an office, but don’t running a kibbutz, full of course I then have to comwant the overheads. engaged 20-somethings busy mute home again. At least If you’d benefit from working on projects they when I get back that kitchen workshops, social love, often for the greater feels a lot more positive… ■ events and sharing. good. Makes a change from Hub Islington, 020-7841 Don’t do it: the cloud of self-loathing If you’re just seeking 8900, islington.the-hub.net. that fills my kitchen office. a cheap desk. Membership ranges from The Hub also runs offices in If you bristle when £10 a month (includes five King’s Cross and Westminpeople describe hours’ usage, membership to ster, which are newer and themselves as mailing list and free or reduced shinier and potentially a betchange-makers. entrance to events) to £290 a ter fit for more ‘traditional’ month (unlimited use) companies.Yet despite its

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Above left: Every Thursday at the Hub co-workers down tools and mingle over a Sexy Salad lunch feast

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Suit Yourself Mark Twain once said that “clothes make the man”. His observation that “naked people have little or no influence on society” may be accurate, but is choosing the right clobber still important for work? words Rhiannon Vivian ILLUSTRAtions Matthew Green

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his approach to clothes made a lasting impression. We all want to be judged by our output not our wardrobe, but people subconsciously assume the woman in the Armani suit or man in the bespoke three-piece is in charge – not the chap in moccasins and a surfing T-shirt. And looking like you’re in charge is a good start when getting folk to invest in your business. “Dressing up is like getting into a role,” says Denise Taylor, chartered psychologist and career coach at Amazing People. “Like an actor, you’re finding the right character, and you want to match your appearance to client expectations. Create a good

The Business Mag Spring 2012

impression and they will associate positive attributes to you. Create a negative image, and it’s hard to turn it around.” Clothes and image have long shaped our judgments. “In the 1500s, the way people dressed told others about their status,” says psychologist Dr Susan Marchant-Haycox. “For ladies, the wider the dress, the higher the status. To the point women had to enter a room sideways their bustles were so ridiculous.” When it comes to the modern workplace, a recent study by Ipsos asked people in 24 countries about what we throw on for our jobs, and found that 55% of workers thought ▲

f Richard Branson had worn steel-rimmed glasses and a double-breasted suit and shaved off his beard, I would have taken him seriously. As it was I couldn’t.” So ran the withering assessment of the Virgin boss by the late Lord King, former chairman of British Airways. Yet he of the aggrieving beard and wrong suit has become one of the most renowned entrepreneurs of the past 50 years. So how much does what we wear affect our success? Could Branson have achieved more if he’d impressed Lord King with a tailor-made pinstripe and a shiny fresh chin? We’ll never know. But it’s clear that, for better or worse,

Business life

■ If the cap fits: We are reassured by professionals dressing in a certain way and are suspicious of those who don’t conform to the dress code

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■ BAGGY TROUSERS, DIRTY SHIRT… First impressions count in business so it’s madness not to invest in quality clothing that fits properly

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The Business Mag Spring 2012

someone wearing business garb was more productive in their job than somebody in civvies. And 65% of workers said that senior managers should always be more dressed up than their team. The fact is we expect a certain sort of professional to dress a certain way. If they don’t, it’s not congruent with our expectations. “On holiday last year, I went on a tiny plane,” says Taylor. “There were just four passengers, but the pilot still arrived in his white shirt and epaulettes. He needed to be in role and we needed that too. How would we have felt if he’d arrived in jeans and an Iron Maiden T-shirt?”

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It all comes down to trust. If you don’t look like the service or product you’re representing, clients won’t feel they can rely on you. “The first thing people see is presentation,” says style psychologist Kate Nightingale. “Next is body language, behaviour, how you speak and – only finally – your work. It’s important to know what characteristics are demanded from your industry, and to show them.” By dressing smartly you give investors and clients the respect they deserve too. Austen Pickles, founder of bespoke tailor Buxton Pickles, says he always wears suits to client meetings, even if he knows the people, to show he’s taking their business seriously. “You spend 20 years of your life working your nuts off to be qualified, so don’t then sit opposite the guy who is going to invest in you in a £99 suit that doesn’t fit,” he says. “If you are talking to an investor about building a business, you want to create an image of a person who runs a successful business already. And you only get one chance to make a first impression.You wouldn’t think twice about spending £500 on a course, but a good suit is seen as a ‘luxury’. It’s crazy.” Surely, you may think, the one place you can wear what you like is home. But even if you’re alone in your kitchen office, it’s best not to become a fashion scrapheap. Even the swishest

Simon Jacobs

years working your ‘nutsYouoffspend to be qualified, so don’t

SAM BOMPAS

Sam Bompas (left) from jellymonger Bompas & Parr (jellymongers.co.uk) on why he and business partner Harry Parr’s ‘trademark’ bow tie has worked Today I am wearing bright socks, a scarlet velvet jacket, mint green bow tie and a full-length beaver-fur coat. You need a bow tie when making jelly as a normal tie might dangle into the bowl. I have always worn bow ties. I was mortified when my father turned up at school in one when I was 16, but then I thought it must be rather good because it’s so shocking. Now it’s practical too. It means we can whip the aprons off, go from kitchen to front of house and instantly look fly. If you have a signature ‘thing’ it’s like a fun uniform. I love the service wear aesthetic, like the dapper continental waiters from the 1920s. They saw their work as a calling, a fine art. I like to honour that. First impressions are paramount. I think there is a level of expectation when people come and meet us. They want to see something fun and delightful. We dress to meet expectations: what we wear frames our powerful ideas. Luckily the people we have to impress formally are there because they want something spectacular, and would rather we didn’t tone it down. But I believe everyone can still dress smartly on their own terms. I’d say we are conventional, with just enough difference to be memorable.

then sit opposite the guy who is going to invest in you in a £99 suit that doesn’t fit

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of dressing gowns can have a detrimental effect on your own mindset. A 1994 study showed that clothing enhances people’s self-perception of work-related attributes including professionalism, intelligence, trustworthiness and efficiency. So pick the right outfit and you’ll feel like The Boss. Pick the slouchy jean, and you’ll feel exactly that. Slouchy. “A smart suit arouses different emotions than casual leggings,” says Nightingale. “And it will affect how you behave accordingly.” What we wear for ‘work hours’ represents a professional person, distinct from off-duty you at home. Try it: stick on a suit. Note the psychological shift.

However, if all this is true, how did Branson get away with it? The Virgin boss has become symbolic of a breed of enigmatic entrepreneur that has made it to the top despite consciously dressing down. And if business leaders have to shackle themselves to the suit and tie, how come Steve Jobs became the world’s most iconic CEO with a wardrobe full of black roll-necks? While there’s one dress code for the Bransons, Steve Jobs and Mark Zuckerbergs of this world, it seems, the rest of us are wise to follow a different suit. “If you have stacks of experience and lots of client testimonials, you can

be more relaxed about what you wear,” says Taylor. “But my take would be, if you’re new and don’t have as much experience, you’re back to those initial judgments.” One thing we could borrow from the Jobs school of fashion is the ‘personal brand’ that makes you stand out. Having a trademark, whether a mustard jacket or lilac scarf, could be advantageous at networking events, for example, as they make it easier for people to pick you out. “Splashes of individuality are a great thing,” says Pickles. “There are ways of having formal attire with individuality. That’s what bespoke is all about.” ■

If business leaders have to ‘shackle themselves to the suit and

tie, how come Steve Jobs became the world’s most iconic CEO with a wardrobe full of roll-necks?

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Richard Branson. The granddaddy of casual is still rocking scruffy blonde locks and resisting a suit and tie.

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Steve Jobs was the master of the black roll-neck and jeans. “The message Apple was trying to convey was relaxed and functional and Steve dressed accordingly,” says Austen Pickles.

The Business Mag Spring 2012

Craig Newmark from Craigslist not only has a beret fetish that makes him look like a French painter, but also eschews a tidy tie.

Dennis Crowley the co-founder of Dodgeball and Foursquare social networking sites, routinely dons college hoodies. Where’s the campus, dude?

Vivien Holloway may be in the fashion industry, but she’s not sacrificed her vintage 1950s look for anyone. From a stall at Kensington Market to selling all over the world and dressing celebrities, she’s made it work.

Helga Esteb/Shutterstock.com, Featureflash, Getty Images, Getty Images for AOL

So who threw out the sartorial rulebook?

Alfred Sargent est. 1899 SHOEMAKER

www.alfredsargent.co.uk

food for thought words Rhiannon Vivian ILLUSTRAtions Wes Tyler

A busy schedule demands a healthy body and mind, fully fuelled to function at their best. Fire in the good food and the long hours will take care of themselves… When you’re working hard, food often becomes an afterthought. Who hasn’t reached for a salt-laden portable fat feast, scoffed some chocolate for a quick boost, and finished the day off with a radioactive takeaway to cram that busy schedule with extra working hours? But this is a false economy: if you’re directing all your energy into running a business, your choice of fuel really does matter. 

Vielife research shows that the healthiest portion of the workforce is seven hours more productive per week than the least healthy. Its study of 15,000 people in the US and UK found that employees with poor nutritional balance reported 11% lower productivity than healthier colleagues. This is echoed by the International Labour Organisation (ILO), which reckons inadequate nourishment cuts productivity by up to 20%.

The Business Mag Spring 2012

The main culprit is low blood sugar, caused by skipping meals and not eating regularly. According to Ingrid Kiefer, nutrition scientist and health psychologist, low blood sugar shortens attention span and slows the speed at which we process information. “The brain cannot store carbohydrates, so it requires a constant supply of glucose,” she says. “When blood glucose drops from, say, lack of food, our

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Vielife research shows that the healthiest portion of the workforce is seven hours more productive per week than the least healthy diets might be slowing us down further. Studies have shown that a diet high in saturated fat can hinder brain function, affecting memory and learning abilities. “My diet advice for anyone starting a business is to think long term,” says nutritional therapist Laura Driver-Davies.

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faculties fade and we lose the ability to concentrate.” You need to stay watered too. It may seem obvious, but hydration is vital for proper brain function. A 1% decrease in hydration levels can lead to a 20% decrease in productivity. Evidence is also gathering that our fatty modern

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■ FIT FOR WORK: Eating well and staying hydrated are crucial when coping with a heavy workload

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“Think of nutrition as preventative medicine.You know that a new business will take up your time, so start taking care of yourself now. It means that down the line you’ll feel healthy enough to be able to cope with growth and not completely burn out.” It’s simple. Provide your body with all the right nutrients and

you’ll concentrate better, have more energy, be less angry and less ill – all good fodder for a successful business. And you’ll look fresher and healthier too. It might sound superficial, but no one wants to work with a pale, exhausted, inarticulate shadow of your dynamic self. ■

When blood ‘glucose drops we lose the ability to concentrate

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Laura Driverdavies’s guide to staying healthy on the go…

Have protein with every meal. It keeps you fuller for longer, and makes you more alert and attentive. It’s not all about meat. Take your pick from lentils, beans, seeds, chicken, fish, eggs and Quorn. And at meal times, I’d suggest eating the protein first, then greens and carbohydrates last.

Three supplements I recommend are magnesium, vitamin D and zinc. Magnesium is good for heart health, blood pressure and any kind of muscle cramps, so it’s brilliant for stress, exhaustion and inability to sleep. Try powder supplement Ultra Muscleze (£26.03, 150g, nutricentre.com). Zinc helps your Chlorella immune system fight off colds and sore throats – great if you can’t afford to be ill. And D vitamins are good if you are working indoors and missing out on sunshine. I recommend a mouth spray – it’s much better absorbed. DLux by betteryou.uk.com is palatable, and one spray a day will suffice (from £6.95, 15ml). If you are taking supplements and you’re forgetful, a SmartShake cup is ideal (£9.99, smartshake.co.uk). It has three separate compartments: one for drink, one for powder supplements and one for vitamins. Great for those on the go.

The worst thing I see with my clients is inconsistent blood sugar levels. If your blood sugar is yo-yoing throughout the day, you’ll get massive energy dips, feel ratty and reach for coffee and sweets. Keep it consistent with healthy snacks. I recommend pots of nuts, oatcakes and mini flapjacks. Graze Boxes are ideal (graze.com), as you can order a healthy mix online. Or if you find a healthy snack you like, a lot of health food stores will let you buy a whole case. Having a decent supply will also stop you popping to the corner shop and buying chocolate.

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Take one serving pot of hummus or cottage cheese out with you. Served with oatcakes or carrot sticks, it means you get a quick dose of protein, fat and carbs.

Get into batch cooking for the week. Beef stew and chicken or fish parcels are quick and fast without the stress of measuring or weighing things out. Get a chicken breast, rub with salt and olive oil and put it in some foil. Shove some chickpeas in, with chopped tomato, garlic and herbs, and fold the foil into a parcel. Bung it in an oven dish and cook. Do as many of those as you like, and when they’re done, let them cool and freeze them. Then all you have to do is reheat on demand. Dinner sorted, and not a ready meal in sight. www.the-business-mag.com

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Business life

Quinoa is a wonder food. It’s especially good for vegetarians, as it’s a protein-rich carbohydrate. It’s also chock full of minerals and good for those avoiding wheat or gluten. It’s better than rice too as you can batch cook it, freeze it and reheat it. Cook it with herbs and spices, drain it, and add olive oil and rock salt and you’re done.

Get into buying bags of watercress and baby spinach. You can add them to meals when you’re on the go.

Don’t rely on pre-packed delivered meal services that sell themselves on weight loss. It’s very hard to keep the food fresh and often the meals aren’t that healthy. They’re better than a dodgy takeaway, but not a good long-term solution.

9 WATER

Set an alarm on your phone to remind you to drink water. Hydration is so important for keeping your mind alert.

If you are at a conference with no greens in sight, you might want to take some Chlorella tablets (£21.95, 300 tablets, sunchlorella.co.uk). They’re full of antioxidants, iron, vitamins C and B12. They’re no substitute for veggies, but they’ll go some way towards providing you with similar vitamins, magnesium short term.

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The Business Mag Spring 2012

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Looking for a new route to business growth? SMEs are a critical part of our economy and their contribution to growth in the UK is significant. Investment in design and innovation is a vital part of what drives their success and now there is a unique opportunity for more businesses to find out how they can make their company part of that success story. These are testing economic times for business. Exploring innovative ways to tackle big challenges can feel risky, but businesses who want to develop and grow know that it is the only way to move forward. The first step is getting a fresh perspective and external guidance to give your business the confidence and capability it needs to deliver results. That is why, with a remit and support from government, the Design Council’s business programme – Designing Demand – is currently working with companies to show how design, embedded at the heart of business strategy, can have transformational effects.

The Design Council provides access to a small, carefully selected network of experienced design management specialists. They lead businesses through a practical and engaging process to uncover opportunities where design can add real commercial value and, crucially, to the right designers who’ll implement design projects to deliver the best results.

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Business life

Invest in

yourself How a change in diet and lifestyle helped publisher Jarvis Smith keep fit for work and play

Olga Miltsova

etting up a publishing company is a tough task – it’s not all lavish long lunches and awards dos. Jarvis Smith, publisher King Lion Media, soon learned that success would mean investing in himself as much as his company. “Before you start you don’t think how much you’ll be living and breathing your business,” says Smith, who’s 41 and a father. “Last year I couldn’t shake off illness. I wasn’t managing myself as well as the business – but these things go hand in hand.” Jarvis met with Janine Fahri of NutriLife, a nutritional therapist who’s keen to point out that she’s “not living on crushed hemp seed and lettuce leaves”. Janine asked Jarvis about his diet and lifestyle, and ran a health screen to see his system imbalances. She then created a bespoke programme for him. The new regime: to avoid sugar and unrefined carbs, like pasta and white rice, shun caffeine and booze, drink more water to aid concentration and flush out toxins, and eat plenty

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I’m alive in every moment from when I wake up to the end of the day

Jarvis Smith

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of protein. “Protein is good for blood-sugar level balance,” she says. “It enhances cognitive functions, like memory, concentration and decision-making, and is good for energy, mood and maintaining weight.” Jarvis now eats four or five balanced meals a day. He also sought the advice of a personal trainer, Sportiva’s Peter Cobby, who examined his posture, weight and body fat ratios. “Sitting at a desk every day for your adult life will ruin your posture,” says Cobby. “That’s not just an aesthetic problem – it can be very damaging later in life.” The pair worked together twice a week for a month, on a gym programme for core strength that Jarvis would then continue alone. Not only has Jarvis kept all this up, but his body is now actively craving the good food and exercise. “The effect is amazing,” he says. “I’m stronger and fitter, and I’m alive in every moment, from when I wake up to the end of the work day and, best of all, when I’m back at home playing with my daughter.” ■

■ BERRY GOOD: Jarvis is reaping the benefits of improving his diet

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IT’S A COVER-UP

In homage to London’s Underground, My London has created a range of mugs with comedy takes on the capital’s stations. Why not spice up meetings by sipping a coff from such chuckle vessels as Hollandaise Park or Oxtail Circus. £4.99, johnlewis.com

Carrying your laptop around in public without a bag? Outwit potential thieves with one of these Undercover Laptop Sleeves. Just don’t leave it near the outgoing post pile… £15.99, iwantoneofthose.com

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The Business Mag Spring 2012

Business life

TIME FOR TEA Swank up tea breaks with this clear teapot from Bodum. Watch your tea brew, get inspired by how it’s slogging away for you, and then work just as hard – as your cuppa powers you through the next few hours… £49, bodum.com

FUNKY PHONE If using your mobile doesn’t feel businesslike enough, the Moshi Moshi Pop Phone is a cool old-fashioned handset you can attach to any smartphone. Make that call feel strong and powerful by snapping one up from iwantoneofthose.com for £27.99. Now you just have to work out how to slam the thing down.

OUTDOORS INDOORS Get happy, and more productive, with some light therapy. The Lumie Desklamp closely replicates the light spectrum of natural daylight. Using full spectrum lighting apparently makes you feel less tired, restless, nervous and hyperactive. And it’s kind to the eyes. £120, lumie.com

www.the-business-mag.com

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Business life

SOCK IT TO ’EM

LIGHTER LIFE

These slipper socks look like smart pumps. The aim? Comfort and status, as you trick your brain into thinking you’re wearing your finest trust-me-I’m-the-boss shoes. £5, foottraffic.com

Can’t afford a whole new lamp? Buy yourself a couple of daylight bulbs to fit in an ordinary light. They’re not full spectrum bulbs, but they offer the same clarity to help keep you alert and energetic. Boom. £13.70, sad.uk.com

ARE YOU SITTING COMFORTABLY? Don’t bust your back with a poor seat. A good office chair needs to have adjustable seat angles and good lumbar support so you don’t end up like Quasimodo. Try a Positiv Plus Chair from posturite. co.uk. The Positiv range starts from £195. The high back model pictured will set you back £524, but for that you get a ‘unique ergonomic experience’ for your bottom and back. Consider your backside pampered.

COPIOUS CUPS OF COFFEE Make your entire pot of coffee for the day, safe in the knowledge that it’ll stay warm. This monster cafetiere is not only chic, but holds up to 10 cups of caffeinated goodness for your team… or just you. Great for those insanely busy days. £62.50, anothercoffee.co.uk

NOSTALGIA NOTES This cool cassette notepad reminds us of when the only thing to worry about was who you fancied and what to put on their mix tape. The songs may have morphed into lists, but you can reminisce over the good ole days by scribing said lists on this 100page pad. £4.99, firebox.com 

The Business Mag Spring 2012

TIDY MIND Dust, crumbs and stray hairs (yup) really enjoy living between the letters on your keyboard, helping to create a hotbed of bacteria (keyboards can be five times as dirty as a toilet seat, according to a Which? study). These small USB Vacuum Cleaners make a meal of lunch and errant follicles. £6.95, gadgets.co.uk

GROW FRESH AIR The keen horticulturalists at the National Aeronautical Space Administration found that common house plants can remove up to 87% of air pollution. So it’s not just about making you feel calm and serene (the Chinese call it promoting ‘living energy’ in the home). The increased oxygen level refreshes you too, so you can concentrate better and zip through that to-do list. Flowers.org.uk ranks the spider plant, ivy, chrysanthemum and cambria orchid among the top room cleansers. Keep them out of direct sunlight and spritz with lukewarm water to avoid premature death. Cambria orchids will set you back about £30.

WORLD DOMINATION With seven red magnets, the World Map Magnet Board lets you outline your scheme for world domination, or at least set out your outsourcing model. Or you can just indulge your inner procrastinator and plan your next zip around the globe. £89, dwell.co.uk www.the-business-mag.com

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Start up and succeed

underland sets out to help start-ups soar to success. In recent years, the city has topped the league in the Royal Mail’s Business Barometer for the highest number of start-up companies in the UK, and there are now a record number of new businesses being created in Sunderland. They reflect the city’s growing entrepreneurial spirit and the remarkable range of opportunities it offers to new and growing businesses. MAKE IT IN SUNDERLAND “There is a vibrancy about Sunderland, a sense that opportunities are there to be taken and a real feeling that people with ideas and determination can make it,” said Ian Williams, Director of Business Investment at Sunderland City Council. Sunderland City Council’s track record of encouraging and nurturing new business has helped hundreds

‘Without City Council assistance we’d have been stuck because we were in effect starting from scratch. We were up and running within a month. Once in, we could employ another five staff. The City Council team was incredibly helpful.’ Simon Tuckwell, MD, DesignHUS

of innovative, exciting enterprises thrive across the city. SPOILT FOR CHOICE Start-ups in Sunderland cross all business sectors. In software, for example, the range of bespoke premises means companies are spoilt for choice. Incubator workspace such as the Council’s e.volve business centre, the Software Hatchery at the University of Sunderland and the Jupiter Centre at the North East Business & Innovation Centre provide specialist bases for digital companies. But the jewel in the crown is the newly completed £10 million Software Centre, another example of the City Council’s willingness to back new and growing companies. Connectivity is key to all new businesses. Sunderland is the first UK city to offer wall-to-wall, super-fast broadband, and the City Council has also signed a deal with IBM to build a city-wide cloud infrastructure – one of the first in Europe – which

ADVERTISING FEATURE

‘Sunderland is a terrific place to start up a company. I’ve had fantastic support from the City Council since I set up Beehive Bakery.’ Stacie Stewart, Beehive Bakery

‘I’m used to London where young companies are treated as being ten a penny. Sunderland’s City Council got us off to a flying start.’

‘The City Council has helped us from day one, both here and in the United States.’ Gerard Callaghan, Director, SaleCycle

David Peto, Chief Executive, AFrame

in Sunderland ‘The City Council’s Business Investment Team was incredibly proactive in finding the right premises for us.’ Will Ryles, MD, Dovcor Bathrooms

‘We’ve stayed at Sunderland despite overtures from other councils because of the fantastic care we get from the City Council.’ Bob Thompson, MD, Tiger Filtration

will bring massive benefits to start-up and growing businesses. The city helps entrepreneurs find the best place to set up and assists with finding grants to drive businesses forward. This continues year after year, advising on new markets, premises, international contacts and business opportunities. TRUSTED PARTNERS The relationships built between the City Council and Sunderland-based businesses have helped companies grow, reach new customers, open offices worldwide, attract new investment and recruit talented staff. People make it in Sunderland because the city works as hard and cares as much as you do about the future of your business. Get in touch and find out more. It could be the making of you and your enterprise. Talk to Neil Clasper of the Business Investment Team on 0191 561 1166 or email neil.clasper@sunderland. gov.uk

‘The quadrupling of our export sales shows just how vital the input from the City Council has been in helping us to expand.’ Ian Farrar, Commercial Director, Datawright

Tech corner

sky’s the limit t 

he tech world has been salivating at the potential of cloud computing for ages. But in the past year or so, with the big boys finally weighing in, things have really started to get juicy. The likes of Google Apps for Business and Microsoft Office 365 are now running the show, and the noise has transformed from a cloying buzz into a truly captivating argument. In short, the cloud offers a setup where everything from email to word processing and complex data systems is handled by remote machines owned by an external provider, instead of adding pressure to your servers and team. So you may have

Google running your email and document sharing, and Salesforce handling your CRM. It sounds simple, but it’s a profound shift: IT suddenly becomes a vital means of bringing your costs down and extending your capacity, rather than just an expensive pain in the binaries. Small business should be all over it. Not only does all the hassle of keeping all your software secure, licensed and up-to-date become someone else’s job, but you can add and remove capacity whenever you want – leaving you more agile and better able to deal with the uncertainties that come with chasing growth. “Having a server machine these

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The cloud is more than just the tech buzzword of the moment. It’s the perfect way to gain the scale, power and flexibility that every growing business needs. And – fanfare – it will save you cash

www.the-business-mag.com

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Tech corner

Cloud control Mark Loane’s top Tips on migrating your business n Consider which cloud services to use. For accounts, think about QuickBooks online. Think Salesforce or Office 365 for CRM, and Google Apps or Office 365 for processing and sharing documents. Office 365 is a much broader business tool, and includes voiceover IP. Microsoft now provides access to enterprise-level technology for as little as £6.50 per user, per month. n Start with a good desktop OS, whether that’s Mac or Windows 7, all installed correctly with decent anti-virus software on it, and a great internet connection. n Think about the practicalities of migration. Moving your existing data from servers to the cloud can be hard. It takes a long time to do, even with a fast reliable connection. n Get advice from someone who’s done it before. Find a Microsoft partner who’s done two or three migrations this year. If you’re taking years’ worth of documents across, and you’re not doing it properly, you could be in trouble. If you’re just starting out, it’s fairly safe to do the migration yourself, with a little video training. But advice is still important. n Once your data is there, sort it into sites and folders. Think carefully about what you need, where.

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The Business Mag Spring 2012

❛ it means low overheads, while giving huge capacity for growth ❜

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days is almost like sticking leaflets through doors instead of using Facebook,” says Mark Loane, of Jersey IT consultancy C5 Alliance. “This will make a big difference to your business. It means very low overheads, while giving huge capacity for growth. If you want to add 20 new employees around the globe, you can do so at the touch of a button.” Of course, no new technology comes without its concerns. Not least security. Having all that valuable data somewhere in the ether, out of sight, is the biggest worry for a small business. What happens in a power failure? Who’s really got access to your data? Could it be corrupted or mixed with others? None of these fears need be a major concern – if you use a recognised provider. The likes of Google, Microsoft or Rackspace have all made huge investment in security and backup provisions – and are actually likely to be a safer bet than the box sat blinking and whirring under your desk. “If anyone wants to get their hands on your data in Office 365 they’d have to try very hard indeed to get around Microsoft’s security,” says Loane. “But by that logic you want to be very, very careful of the small-fry.” ■

ADVERTISING FEATURE

Reducing information

overload W

e are a nation of information addicts, according to a survey carried out by Symantec to discover how the “information explosion” is affecting office workers. We are all suffering from a 21st century ailment – Information Overload – and it is taking over our personal lives, working lives and our businesses. Accessing work information out of hours, compulsively checking emails, texts and social media and hoarding endless emails and multiple versions of the same file are all symptoms of information overload experienced by those surveyed. But the technology enabling us to be more productive (fantastic mobile devices and faster connectivity) together with the mismanagement of information is actually counter-productive. IDC recently estimated that over 1.8 Zetabytes of information was created and stored (somewhere) in 2011 (IDC, “The 2011 Digital Universe Study: Extracting Value from Chaos”). If previous years are anything to go by this will grow by at least 60% in 2012, effectively ‘drowning’ us in information. How are we meant to keep up with this deluge of information? By archiving old data and deduplicating copies of data to reduce data backed up and the time it takes to back up. Symantec Backup Exec delivers reliable, comprehensive backup and recovery for any IT environment. The range of offerings includes traditional software for both virtual and physical environments, cloud backup solutions, as well as a specific edition for small businesses.

Key benefits of Backup Exec include the ability to:

How are we meant to keep up with this deluge of information? By archiving old data and deduplicating copies of data to reduce data backed up and the time it takes to back up.

Reduce business downtime Eliminate complexity Spend less time managing backups Ensure critical information on virtual or physical systems is always protected Restore data in seconds Reduce storage and management costs Optimise network utilisation Eliminate redundant additional backup jobs Provide granular recovery of data for applications and databases The modern Backup Exec range is designed to adapt for any business to easily protect increasing amounts of data, whatever the environment, while reducing storage and management costs through integrated deduplication and archiving technology.

BOOyoSurTratings

Tech corner

Advances in online streaming, plus changes to Google’s system, mean video is the way forward to push your website up the search rankings. Justin Gayner, founder of online production company ChannelFlip, explains

ne of the things we hear a lot from startups is “let’s make a viral video”. Just to set the record straight – that’s a piece of video which happens to have gone viral. That requires a lot: an exceptional idea perfectly executed, and brilliant distribution so that any snowball becomes an avalanche. Can anyone guarantee something will go viral? Absolutely not. And unless you have very large budgets I’d suggest you spend your money in better ways at the startup stage. Change is coming, however, and every small business should be looking at video content. Why? Everyone’s still using the standard design of sites set when the web first came out and they look like boring brochures. But with faster streaming and video becoming cheaper to make, the next generation of websites will be video-based. If a picture is worth 1,000 words, a video is 10,000. I’d invest in creating a twominute video explaining what your company does and actually showing why people should use it.You can host the video for free 

By drip-feeding ❛recipes, Riverford now has a spot-on way of both getting new customers and keeping existing ones engaged

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■ MOVIE MAGIC: Riverford has a branded YouTube channel showing 30 videos based on recipes from its cookbook

The Business Mag Spring 2012

on YouTube and still embed it on your homepage, and get great data on where and how much it’s being watched – even the exact point at which people are beginning to switch off. Riverford wanted to engage with new consumers by creating a channel of mouth-watering vegetable recipes. It now has a branded YouTube channel that looks like its corporate website, with 30 videos in HD based on recipes from its cookbook, released on a weekly basis to its channel. It’s that constant conversation. By drip-feeding recipes, it now has a spot-on way of both getting new customers and keeping existing ones engaged. The second step: if you have a consumer-facing product, look at video advertising before any other online ad format. The conversion rate for video ads averages around 3.5%. If you were to buy an MPU (mid-page unit) or skyscraper – the standard ad formats on a web page – you’d be looking at 0.01%. They may be cheaper than video, but there’s infinitely less room to get excited about what you’re offering. ■

ADVERTISING FEATURE

Keeping British Business moving Small and medium business enterprises are the backbone of the British economy, contributing more than £1bn to the economy each year, and accounting for over 50% of employment. As Britain’s largest supplier of commercial space through our extensive lettings estate, we’re helping many SMEs make that contribution to UK plc every day. We’re flexible We offer a flexible rental package that benefits smaller tenants, including monthly rental payments and shorter termination periods to allow for easier annual budgeting and better cash flow. We’re affordable We help you locate your business in places you never knew you could afford. Offering competitive

The size and location are ideal for our purposes and Network Rail has been very supportive with the work we’ve done to transform the arch into a fantastic venue. Gerald Amin, Producer, Waterloo East Theatre, London

rates for key business locations, simple contracts and a 48-hour turnaround service are just some of the ways Network Rail supports small businesses. We’re diverse In major towns and cities across Britain we’re offering businesses a wide range of niche space – many of which are railway arches. We also have offices, shops, restaurants, leisure and light industrial units, vary in size from 100 sq ft to more than 100,000 sq ft. Current tenants range from estate agents to wine makers, hairdressers to high-end cheese makers. For more information and to view our available properties please visit www.networkrail.co.uk/ property or call 0800 830 840.

bean counting

SUM it UP

Chances are you didn’t start your business out of a burning desire to flex your bookkeeping skills. QuickBooks Pro will help you do everything – bill clients, manage inventory, track employee hours and create professional invoices and estimates – through one bit of software. Its Customer Snapshot function gives you an immediate overview of a customer’s activities, while the Collection Centre will batch-email late statements with a copy of the applicable invoice. £21 a month, intuit.co.uk

A round-up of the office tools that mean business

Topgear Swallow this

A tablet may seem a luxury, but it’s worth considering if you need kit that’ll boot up instantly and allow you to show data to clients or colleagues on the fly. It will take the pressure off emailing on your phone, and just slip into your bag. BlackBerry fans got dealt a bum hand with the PlayBook, but there are plenty of decent models that’ll sync with Android phones. If you’re looking at straight-up skills, though, Apple’s iPad 3 is still the one to beat. As things move increasingly to the cloud, more of us will be swallowing tablets. From £399, apple.com

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The Business Mag Spring 2012

Tech corner

video star As the marriage of web and video continues apace, businesses will soon need video on their homepage to appear high in the Google rankings. Why not shoot it yourself? These days an affordable DSLR camera can film HD video and supports a range of lenses to make the picture really sing. The Canon EOS 600D comes with a flip-out screen and an intelligent auto mode that will select the right settings, and it records to SD card so you can whack it straight into your laptop. Approx £600 with lens, canon.co.uk

Moving pictures

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Project presentations, video and photos from a box you can carry in your hand (120x70x30mm). The Optoma Europe PK320 will fire a 150in image from a laptop or phone, but with its own built-in speakers, media player and SD card slot, it works direct from a memory card too. It projects for up to 1.5 hours on its internal battery, perfect for impressing at meetings or for showing off the ‘madness’ of your latest caravanning trip. Approx £350, optoma.co.uk

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Raise your sites Everyone needs a web presence, but not everyone’s a designer. The Mr Site Takeaway Website range takes you all the way from registering a domain name to dragand-dropping a slick, professional site – including secure PayPal e-commerce and SEO optimisation with the Pro version. £99 (inc VAT and domain), mrsite.com

What’s up Docs?

LASER POWER

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This sweet-looking laser printer churns out black-and-white and colour documents with speed and economy, and it supports duplex printing, so it can automatically print on both sides. The Brother HL-4150CDN has a USB slot for printing direct from memory sticks and you can add a security code to documents via the printer driver, so the printer will store them in memory until someone enters the code to release them. Handy if you’re in a shared office. £490.80 inc VAT, brother.co.uk

The Business Mag Spring 2012

A mouse to stroke This sleek wireless beauty uses Microsoft’s BlueTrack technology, so you can use it on pretty much any surface – even your carpet. Just don’t tell us why you’d need to do that. The Explorer Touch Mouse has no scrolling wheel – instead you use the same action as when using touch screens. £49.99, microsoft.com

Tech corner

Chalk and ease The SMART Board 685ix has a large, touch-enabled surface that allows you to write in digital ink with your finger or a pen and interact with applications. You can open documents from your network or from a web browser. Plus you can save your work to email it to your team. £3,700, smarttech.com

Maximum security Secure, versatile and powerful – and crucially not too much hassle – the Kaspersky Business Space Security kit covers everything from network protection to smartphone security, and guards against infected email, websites and those pesky removable USB sticks. And you can scale it to the size of your business. Kaspersky gives support over email, phone or live chat to help you tell your trojans from your rootkits. If only it kept the taxman away too… £380 for a year (10 workstations/ smartphones/file servers), kaspersky.com

Bash and carry Imagine Daniel Craig’s Bond as a computer: the high-end HP EliteBook 8460p business laptop is designed to withstand dust, vibration, altitude, humidity, high temperature and being dropped, yet still looks sleek. Business-wise it’s a beast too. Its Windows 7 Professional operating system can handle everything you’ll throw at it, and HP reckons using its Ultra Extended Life Notebook Battery would give you 32 hours of running time. You can browse the web and check email without having to boot up Windows, and it even has a fingerprint sensor and facial recognition to keep those underlings away. £1,082 inc VAT, hp.com ■

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ADVERTISING FEATURE

Slough launches inward investment website S

lough has been an international destination for business for decades, with companies such as Mars, Unilever, AkzoNobel, Lonza and O2 calling it home. The main attraction is the town’s amazing transport links to the rest of the UK and its close proximity to Heathrow airport, coupled with high-tech buildings and research and development facilities. Businesses value the specialist business clusters in the area,

the major motorways, M4, M1 and M40, as well as various A roads and great train links. The area is seeing growth in the service, pharmaceuticals and bio sectors.

as well as business to business opportunities and platforms for networking. With a highly skilled workforce, great quality of life and various leisure facilities, Slough is one of the

most popular business destinations in the south east of England. Just 20 miles by road to the City of London and only up to 15 minutes to Terminal 5 and the main Heathrow airport, the town is serviced by

For more information, click on www. sloughmeansbusiness. co.uk and make contact with a member of our team.

DO YOU HAVE A GREAT BUSINESS IDEA? SHELL LIVEWIRE CAN HELP YOU REALISE YOUR DREAM. � � � � �

Free expert and peer-to-peer advice for starting your own business Global social networking, discussion forum and videos Monthly £1,000 Shell LiveWIRE Grand Ideas Awards Annual £10,000 Shell LiveWIRE Young Entrepreneur of the Year Award Online support aimed at young entrepreneurs

To enter you must be a registered user of the Shell LiveWIRE network, based in the UK and aged 16-30. Join our growing community of movers and shakers today at www.shell-livewire.org/startup Shell LiveWIRE is one of Shell’s Social Investment Programmes. Since its inception in 1982, Shell LiveWIRE has given over £5 million to young entrepreneurs and is now active in over 20 countries. In the UK it combines an online support service and awards programme for young entrepreneurs aged 16-30 with over 165,000 registered users in the Shell LiveWIRE community.

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ADVERTISING FEATURE

Need start-up capital?

Question tiME

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borro CEO Paul Aitken shares his views on business success What is your inspiration in business? The opportunity to turn an idea no one has tried before into a successful company. Who do you most admire? Anyone who, irrespective of the field they work in, decides to start out on their own. What advice would you give startups? Don’t theorise – just get on with it. You don’t know how something will work out until you try it. It’s also important to have the confidence to change direction if necessary. To raise finance I would advise you to show progress daily, and to have a well-run business with excellent processes and systems that allow you to provide a world-class service and effectively manage risk. What defines your way of doing business? We have a very inclusive culture at borro, and we nurture talent. Our intern programme employs 10 undergraduates on a year-long placement. Out of all our interns, 80% return to work with us full time. What’s your most memorable moment so far on your entrepreneurial journey? Starting borro and winning Alternative Lender of the Year at the Credit Today awards in 2011, just two years after we started lending.

Competitions

top prizes

gorgeous giveaways for your business Sales services for startups Konvertis is a UK-based lead generation and managed sales service provider. The company specialises in offering sales services to startup businesses, with a range of packages designed to help them get selling as quickly and as effectively as possible. Services include telesales, field sales and online lead generation campaigns, using SEO and Google Adwords to help attract customers. Konvertis also offers lead management and data cleansing support, making for a fully integrated and wellrounded service.

win!

BlackBerry Bold 9790

WIN Konvertis is giving away a four-day telesales campaign that usually costs £1,000 (4 x £250 day rate) to one lucky reader. To enter visit kinglionmedia.com. Entries close 27 July 2012 AND! Konvertis is also working with Nimble CRM to give you the chance to win six months’ free social CRM software for up to three users in your organisation. Just sign up for a 30-day free trial of Nimble via kinglionmedia. com to enter. The winner will be selected at random on 28 June 2012.

BlackBerry Bold 9900

blackberry delights Collaborate, network, and share like never before – with the new BlackBerry® Bold™ 9790 smartphone. Built with refined finishes and functional features, the Bold™ 9790 provides a fluid high-resolution touch display, precise optical trackpad and navigation keys, and iconic QWERTY keyboard, all in a narrow form factor. The nextgeneration BlackBerry® 7 brings responsive touch and smooth UI rendering. Collaborating with friends and business contacts is easier and faster than ever before thanks to pre-installed social and productivity apps like new BBM, Social Feeds, BlackBerry® Balance and BlackBerry® Protect app. Then there’s the thinnestever BlackBerry® Bold™ 9900, combining the iconic QWERTY keyboard with a 24-bit high-res touch screen and precision optical trackpad. Purposeful design details meet functionality with the BlackBerry® 7; enjoy fluid touch screen navigation with proprietary Liquid Graphics™ technology, 40% faster browsing, and more. WIN For your chance to win a BlackBerry®, visit kinglionmedia.com. Entries close 27 July 2012.

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Join the Millions

who are already saving! Costco Wholesale is a membership warehouse club, dedicated to bringing our members quality goods and services at the lowest possible prices. We provide a wide selection of merchandise, plus the convenience of speciality departments and exclusive member services, all designed to make your shopping experience a pleasurable one. Trade Membership You qualify for Trade Membership if you are a bona fide business owner or manager, or are self employed. To join Costco and start saving please provide evidence of trading in the form of either a VAT Registration Certificate or two other pieces of business stationery (cheque, letterhead, invoice), PLUS a current business utility bill (electricity, gas, telephone, water).

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Secrets of a startup

Diary of an unsteady entrepreneur Part I: Our bumbling businessman reveals the trials of partners, producers and networking parties

urround yourself with people better than you, that’s what they always say. Well, when it comes to cooking I’ve never met anyone who’s a patch on John, so he was clearly the ideal partner when I set up the restaurant. But as I watch his massive ham hands struggling to release a printer cartridge from its plastic wrapper I’m wondering whether we should have killed it at the pop-up stage. It’s like giving an iPhone to a shire horse. I already fear for the structural safety of our office after witnessing his earlier wrestling match with a paper jam. And when I add the towering mass of untended paperwork and his adverse reactions to the words ‘health and safety’, it’s hard not to ask if this is a mistake. Plus he keeps using my Knight Rider plate. At least the place is zipping along. The public are clearly happy to fork out a bit extra for decent ingredients. The only snag is getting the stuff in on time. I always imagined organic producers would be prompt. And hearing “yeah man, it’s on the

way…” when you chase up deliveries, makes you want to brand Fairtrade onto their forehead. The school system should be better equipped to teach people that ‘ethical’ and ‘flakey hippy’ don’t mean the same thing. Elsewhere I really need to improve my memory for names. At last night’s networking do I found myself cornered with a petite blonde strategy consultant and Mr Tie from the council (this time it featured Homer Simpson in his Y-fronts). I’ve met the council chap plenty of times, and I’ve been out on the lash with the consultant (we even had a slowdance), but still I couldn’t be absolutely sure that I’d get their names right. So I found myself standing back with that awkward mute grin, providing ample space for them to do the introductions themselves. Neither of them jumped in. They’d clearly both forgotten who I am too. D’oh. I’ve vowed to solve the names problem: at the end of every phone call now I repeat the person’s name beyond the point of sanity just before we hang up. “Ok Bill, thanks Bill. Bye Bill.” It’s working. And somehow it makes me feel more powerful. I just fear the day when I call someone Mummy… ■

Where’s my iPhone?

‘

Schools should teach people that ‘ethical’ and ‘flakey hippy’ aren’t the same

’

www.the-business-mag.com

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Last thought! Conde Nast

Laura Ashley

CostCutter Hotpoint KwikSave

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I’m the boss here

Pret A Manger

Does What It Says on The Tin

Specsavers

A-Z Dry Cleaners Bebo

The Perfume Shop

Poundland Faith

Dune

A1 Taxis

Monsoon

Fuji Muji

EAT

World of Leather

Boo

Argos

Carters

THE

Careerchange, Mr President

TAXONOMY OF COMPANY & BRAND NAMES

Ford Hoover

Miramax Boots Moss Bros

French Connection

JD Sports

Dell

Boots

Doesn’t Do What It Says On The Tin

Snow & Rock

Money Supermarket Accenture Toast A Bathing Consignia Ape

Miss Selfridge

Could be rappers

PUN NAMEs

The Cod Father

Floral and Hardy Abra-kebab-ra

really?

Wok This Way Marks & Spencer

TK Maxx

could be comedy double acts

Procter & Gamble

Business.com

Insure.com

confident marketing team

Orange

Go in a pie

Fund.com

The Most Expensive URLS

Superdrug Blackberry

Topshop

Mulberry Bebo

Spudulike

IT’S FAAAAMILY

Tumblr

Boo

Dotcom nonsense Twitter



Fortnum & Mason

Holland & Barrett

Go Compare

Burberry

Upper Crust

Moss Bros

Russell & Bromley

Mister Minit

Apple

Stead & Simpson

Tate & Lyle

Game H&M

Ronseal

Rock & Sole Curl Up & Dye Sherwood Plaice Aviva Napoleon Florist The Vinyl Boiler Parts Resting Place Turnham Clean Floral And Jane Armour Hardy Trading

Mace Yo! Sushi

Mace The Body Shop Carphone Warehouse

Facebook

Big & Tall

B&Q

The Apple Store

Curry’s

Match.com

Lord of the Rings Jewellers

Big and Tall

Shoe World

Zara

Hotmail. com

George at Clinton Asda Cards

Carpet World

Undiscovered Planets

Search optimised (Internet)

AutoTrader. com

FULL OF EASTERN PROMISE

Terrible Scrabble score

Toys R Us

Hallmark Cars

Curry’s

Mango

Game

CareerBuilder. Liberty com

Search optimised (Yellow Pages)

Amstrad

Ann Summers

EAT

Oasis

Aardvark Wedding Films

Karen Millen

Miramax Timpson Sainsbury’s Bing

The Business Mag Spring 2012

Dell Marks and Spencer Boots

YouTube

Porn.com

Stag Party (Playboy)

Marafuku (Nintendo) Seattle Coffee Company (Starbucks) BackRub (Google)

Spotify Duracell

Diamond. com

Beer.com

Shine

Virgin

Could be used to mock an adolescent

Sex.com

Jerry’s Guide to the World Wide Web (Yahoo)

This needs a rethink Brad’s Drink (Pepsi) Cosmair Blue Ribbon (L’Oreal) Sports (Nike)

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