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Sleeping Giant Media Managing Director, Luke Quilter, recently presented to undergraduate business studies students at Canterbury Christ Church University. Many of the students are considering becoming entrepreneurs upon graduation. Luke wanted to share his personal journey of what it's really like to start a business. See the video here - http://youtu.be/_zcrWDJb410 www.sleepinggiantmedia.co.uk
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Canterbury Christ Church Uni
t. 01303 240715 e. [email protected] w. www.sleepinggiantmedia.co.uk
Focus
- I talk about setting up a business quite a bit which is because it is my background
-Not everyone wants to do this, but the principles and challenges I talk about apply in corporate life too
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What business is really about
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There is no perfect situation
- Imagine you are 65
- Imagine you had a recipe for how to cook a dish that your friends liked
- Imagine if you then had to convince existing restaurants that it was better than theirs
- Then for the privilege of using your recipe they had to pay you a percentage of the profits
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How many issues do you see?
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but I am too young
- There is no right time or wrong time to start a business
- There are however lots of excuses
- Too young, too old, not enough knowledge, not enough money, not the right location
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Introduction
- Take you through the last 5 years of starting and then running a business
- Talk about some business systems and process’ that are important
- Look at some of the more personal requirements
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My story
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What I would like to tell you
- Created a business plan
-We got all our legal elements sorted
-We followed the plan to the letter
-We knew exactly what we were doing
- It was really easy
-We made loads of money and lived happily ever after
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The reality
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What we do
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We focus on delivering more relevant visitors to our clients
websites
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What we do
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With the ultimate focus of getting them more customers and growing
their business
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What we do
12
PPC SEOSocial
Website
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SGM vs the competition
- Client performance
- Client retention
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Technology
Customer service
HighLowLow
High
Giant Sized Gap
Where it began
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Year -1
- Part time
-Working full time, studying a masters degree
- Put together a business plan
-Kept the costs low - built up a few clients
- Planned the processes
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2008
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Best laid plans
-Who is it for?
- The point of the business plan
-Main things to include
-General road map plan
- Financial forecast
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Getting started
-Keep your overheads as low as possible
- Reduce risk where ever possible
-Don’t worry too much about planning every detail
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Year 1 - Full time
- Long hours
- Pretending to be bigger than you are
-Understanding the concept of running a business
-All hands on deck
-Very exciting!
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2009
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Year 1
- It is about learning what business is all about and how it works
- There isn’t really anything you can do to prepare for that, it is just a case of doing it
- Just try and learn it as fast as you can
-Academic models help to give you a frame of reference and a start point
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Year 1.5
-More structure, more process
-No tie’s (getting our own identity)
-Money coming in
- Important to reinvest money back into the business
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2010
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Year 2 - 3
- More established agency, structure, and tone
- Managing and monitoring staff becomes more challenging
- Legal elements
- Managing the growth
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Building a team
-Decentralized structures
- Bottom up approach
- Less structure and more of a collaborative approach
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Management
Directors
Executives
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Building a team
-Decentralized structures
- Bottom up approach
- Less structure and more of a collaborative approach
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Management
Directors
Executives
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Year 4
-All about the team
-All about marketing and building a brand and asset that is bigger than 1 person
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ClientsSleeping Giant Media
Staff growth
20132012Would you feel comfortable referring SGM to other companies?
Are you happy with SGM's service?
Average customer service rating
Client questionnaire October 2013
275% 10 out of 10 10 out of 1094%
personalities IG
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Year 4
- Challenges we face
- Retaining quality of service while scaling
- Internal communications and knowledge sharing
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The practical stuff
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Model
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Financial
People
Clients Innovation
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Internal technology
- Cloud based computing
-Online document storage
- Time sheeting
- Cloud based CRM - mobile integration
-Apple based
- Fibre optics in the building
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External change
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Talk of algo change
Algo to reduce value of low quality links
Algo change Algo changePenguin 2.0
coming
Out reach planning
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Long term objectives
-Utilisation of technology to help client retention and management
-Continue to build knowledge sharing within the business
-Monitor external technology change and adapt the business
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Set goals
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0
40000
December January February March April May June July August September October November
Profit
2011 2012 2013 Projected
Key targets:
Over £200k np
Retention of 100% positive months
Office moveRecruitment of
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Over 33% profitability
It’s not business, it’s personal
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What you need to be successful
- “It not personal its just business”
-What attributes I have found important in order to be “successful”, and things that I am still working on
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What success takes
- 1. Awareness
- 2. Emotional Control
-3. Invincible determination
-4. Positive perspective
- 5. Continual learning
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Awareness
-Know what you know
-Know what you don’t know
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Emotional control
-Don’t let your decision making be changed by your emotions
-Make your emotions work for you not the other way around
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Invincible determination
- You are the biggest blocker to your success
-Overcome your own inner fears of failure
- Set your goals and don’t deviate
-No matter who tells you that you can’t do something believe you can
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Positive perspective
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- You can’t control external events
- You can control how you view them
- You can help develop a positive attitude
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Continual learning
- Every day the challenge is different and you have to stay on top of it
- The only way you can is by learning every day
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Thanks for your time
-Please don’t hesitate to ask any further questions as we would be happy to answer them