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Hugh Chappell - Running Successful Online BusinessesFrom The Online Business Makeover - 12/03/2012
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Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Running Successful
Online Businesses
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
About Me
Perfectionist
If a job’s worth doing then it’s worth doing well
A total believer in product excellence
Hard Working / Workaholic
Self-motivated
Passionate
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Conveyor Belt 1 – Employment (27 years!)
1976 - Johnson Matthey PLC
(Analyst Programmer, Computer Section Supervisor, IBM and ICL
Mainframes)
1979 - Apple Computer (UK) Ltd
(Sales Consultant, Sales Manager)
1985 - 2003 Taxan (Europe) Ltd
(Sales & Marketing Director and Deputy Managing Director)
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Conveyor Belt 2 – Entrepreneur! (5 years)
2003 – TrustedReviews.com
(Owner/Managing Director)
Sold to Time Warner / IPC Media – October 2007
2005 – bit-tech.net
(Owner/Managing Director)
Sold to Dennis Publishing – October 2008
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Conveyor Belt 3 - Angel Investor and Advisor (3 Years)
2009 to Date - Net Communities Ltd
(Chairman & Shareholder)
2010 to Date - Lovestruck.com
(Executive Chairman & Shareholder)
2011 to Date - ParkatmyHouse.com
(Director & Shareholder)
2010 - 2011 - Time Out Group
(Non-Executive Director)
2011 to Date - Markco Media Ltd
MyVoucherCodes.com
(Non-Executive Director)
2011 to Date – Dennis Publishing Ltd
(Non-Executive Director)
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
What is success?
Definition of “success”
• the accomplishment of an aim or purpose.
• the attainment of fame, wealth, or social status.
• a person or thing that achieves desired aims or
attains fame, wealth, etc.
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
What makes a Business Successful?
• Provides excellent products and services.
• Contributes to economy of the country.
• Creates employment.
• Makes a profit!
• Produces a return for shareholders on the
assets employed.
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Comparing a successful business with chair?
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Comparing a successful business with chair?
TrustedReviews.com & bit-tech.net (online publications) - 3 Legs
Technology (web), Premium and Original Content, Sales
Lovestruck.com (online dating) - 2 Legs
Technology (web/mobile), Marketing
MyVoucherCodes.co.uk (online vouchers) - 4 Legs
Technology (web/mobile), Content, Sales, Marketing
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Accurate Business Plan
• Definition of Key Performance Indicators.
• Revenue - the most difficult bit!
• Costs - the easy bit!
• Avoid the Business Plan based on a fixed percentage of revenue growth each
month (reality is very different).
• February has 28 days! (21.78% growth required to grow by 10%).
• Factor in Seasonality.
• Measure daily and monthly (detail). Adjust (both up and down).
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Accurate Business Plan
Unbelievable
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Accurate Business Plan
Believable
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
Accurate Business Plan
What are the Key Performance Indicators (KPI)?
Lovestruck.com
• Marketing - Ruthless Measurement of Return on Investment.
• Traffic (Visitors, Bounce Rate, Pages per Visit, Page Impressions).
• Registration, Profile Submission, Profile Approval.
• Subscription (1, 3, 6 and 12 months).
• Subscription renewals.
• Pricing, Initial and Lifetime AOV.
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
What’s in a Name?
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
What Makes A Good Website
1. Quick to Load.
2. Simple Design.
3. Easy to Navigate.
4. Effortless to Use.
5. Updated EVERY day!
6. Has No Broken Links or Errors!
7. Produces Original and Quality Content which is Relevant.
8. Effective interaction with social media.
Ultimately a Good Website is one which is “Compelling”, providing Value to the
Audience and so draws them back again and again)
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
What Makes A Good Website
A Proper Understanding of Technical Requirements:-
• Programming
• Design
• Search Engine Optimisation
• Hosting
• Statistics (audited)
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
How important is Sales (Revenue)?
“Nothing happens until someone sells something”
Thomas J Watson, Entrepreneur and Founder of IBM
Brilliant ideas, innovative/remarkable products, great websites, the best
systems and procedures have little meaning if there is no revenue to pay
for them.
Everything inside your company depends upon one thing, your ability to
attract and retain customers.
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
SUMMARY
Why are the business I have worked with been successful?
The Product
The People
Strong Management
Sales Excellence
Discipline (working hours, punctuality, tidy office)
Meticulous Budgeting and Accounting, Ruthless Control of Cost
Staff who enjoyed their job, were passionate and wanted success
Teamwork (no us/them)
Timing
SHEER BLOODY HARD WORK
(7 days per week)
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
THE DIFFERENCE BETWEEN US AND SUCCESS IS….
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
THE DIFFERENCE BETWEEN US AND SUCCESS IS
US
Running Successful Online Businesses
Hugh Chappell Fresh Business Thinking - March 2012
THANK YOU