“Leaping into Coffee”

“Why there TRULY has never been a better time to start a business and how I did it”

Glyn Powditch, co-founder of DreamAgility.com and JewellersArk.co.uk

18th November 2013, Entrepreneurship Club, MBS

Today…..

• Brief Intro • Leaping from the Comfort Zone• Planning the Leap• Funding the Leap with SEIS• £250k package vs. Life on Coffee

MBAs, jobs, family, hobbies………

Leaping From the Comfort Zone

• Co-Founded 2 companies in the last 18months, each turning over six figures:

Dream Agility: the Dennis Waterman of our industry

• Founded with my wife• We build digital platform & apps. • We build the campaigns & the feeds. • We do the analytics & take action.• And the reason we do all this is the very

reason we exist……

Why this is important:

• IT companies build websites and at best dabble in online marketing (most don’t do online marketing at all).

• Digital Agencies do SEO & Paid Media (a few dabble in building non-transactional websites).

• They then blame each other whenever things don’t work out!!!!

• Sick of this and wanted a new approach…..

Dream Agility as a business

• Runner up in the Northern Tech awards in our first year of business.

• “One of the technology jewels in the North West’s crown” Software City 2012

• Consulted in the US with; Paul Muret (inventor of Google Analytics), Larry Tesler (UX guru - Apple, Amazon, Yahoo), Greg Lindon (inventor of Amazons recommendation engine).

A Platform designed for online marketing

Traditional Silo Websites Our Approach

JewellersArk.co.uk was our first full service platform

JewellersArk.co.uk

• Funded with £150k under SEIS and another £95k in cash and equity stake• Shareholders are Independent Jewellers from across England & Elizabeth and myself• Members of the THJ buying group• The fastest growing jewellery platform in the UK right now. • 25% of traffic now through mobile

Leaping from the Comfort Zone

Why would anyone quit £250k package roles?• I began planning Dream Agility at

Webuyanycar.com. • Our first client contacted me Jan 2011• Jewellers Ark signed in Sept 2012 • Jewellersark.co.uk fully live Xmas 2012• Jewellers Ark - six figures 2013• Only just left Sky

Planning the Leap

• Reid Hoffman’s book - Have an A, B, Z plan

- A – What are you doing right now (often a job)- B – Alternative for when A inevitably fails

(‘pivoting’)- Z – Lifeboat if something goes REALLY wrong

Funding the Leap

• Having a job (A) really helps (B) and (Z)• Build the business whilst in a job• Invest in Self – make better decisions• SEIS• Disclaimer – NOT qualified to give financial

advice

SEIS with Jewellers Ark

• Invested max. £150k under SEIS• Can claim £75,000 back against their tax return in the

first year! • Even better, cash shares or other investments into fund

the SEIS investment, they get a further £42k back. • £150k investment only cost £33K, split amongst

several Jewellers • No brainer and far cheaper than each of them paying

for individual websites.

SEIS key points

• Limited to £150k total in a single project• £100k limit for any one individual• Some industries excluded i.e. property• Can apply before company formed• Only 2 pages of forms• HMRC very helpful.

£250k packages vs. life on coffee

• So is it worth it? • You pay a lot of tax in a job!• Yes but………• And there’s always Plan Z

Summary

• View a job as a pathway to entrepreneurship not a barrier.

• Have an A,B, and Z plan. • No matter how busy, you can always find time.• SEIS – never a better time to start a business.• Entrepreneurship beats a job in the long-term!