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10 tips for starting entrepreneurs
“So you want to buildyour own business?”
Barcamp Ghent 2 - 30/11/2008
Hi, my name is Bart.
I work at webagency Netlash.
... and at a few other companies:
www.ondernemeringent.be
www.netlash.com
www.metatale.eu
www.tagger.fm
www.kopjekoffie.be
www.planetgadget.be(Yes, that’s a lot of www’s)
You can find me here:
Starting your own business
10 tips from my personal experience
Listen carefully...
* personal experience *
It might not apply to you.Or your business.
My 10 tips
1. Your new best friend
2.
3.
4.
6.
7.
8.
9.
10
5. 10.
Your accountant
1. Your new best friend
Your accountant
Choose him carefully
Make sure his office is within a 15 minute drive
Do not go for the cheapest!
1. Your new best friend
Your accountant
And whatever you do...
1. Your new best friend
Your accountant
And whatever you do...
Do NOT take a friend or a member of your family as your accountant.
1. Your new best friend
Your accountant
And whatever you do...
Do NOT take a friend or a member of your family as your accountant.
... Just don’t.
1. Your new best friend
By extension
Find yourself a good bank manager, and join that bank.
The personal relationship with the bank manager is far more important than the brand of bank.
1. Your new best friend
2. Show me the money
3.
4.
6.
7.
8.
9.
10
5. 10.
Watch your cash-flow
2. Show me the money
Watch your cash-flow
No matter how profitable you are, if you run out of cash, it’s
2. Show me the money
Watch your cash-flow
No matter how profitable you are, if you run out of cash, it’s
GAME OVER
2. Show me the money
Billing
Send out your bills asap
Follow them up for payment
Be firm but friendly!
Ask advances
2. Show me the money
Oh, and should I mention:
You HAVE to have a business model.
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4.
6.
7.
8.
9.
10
5. 10.
3. Be a Mensch
Mensch
Mensch (Yiddish: מענטש mentsh) means "a person of integrity and honor"
http://en.wikipedia.org/wiki/Mensch
Build your rolodex
3. Be a Mensch
Networking
Don’t network to build business
The network of your network is far more important!
“Pay it forward”
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6.
7.
8.
9.
10
5. 10.
Availability
4. Be easy to work with
Availability
Answer your phone, answer your e-mail
Reply to RFP’s within the hour!
Be reliable, make good on your promises
Communicate often and clearly
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6.
7.
8.
9.
10
5. Build alliances 10.
Cooperation
5. Build alliances
Cooperation
More value-creation through cooperation
Share your ideas
Be open
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7.
8.
9.
10
5. Build alliances 10.
Sparring partner
6. Get a sparring partner
Get a partner
It’s very hard to build a bigger business on your own
Find an opposite
It’s like cycling...
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7. Find your niche
8.
9.
10
5. Build alliances 10.
Say No!
7. Find your niche
Niche
Create your own niche, and dominate it
“Blue Ocean”
It’s ok to say No - sometimes it can win you clients!
Focus
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7. Find your niche
8. Set your goals
9.
10
5. Build alliances 10.
Don’t steer - look
8. Set your goals
Launch your ‘torpedo’
Know what you want to be: consultant, entrepreneur or manager
Define the numbers
8. Set your goals
SMART
Specific
Measurable
Achievable
Relevant
Time Framed
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7. Find your niche
8. Set your goals
9. Cherish your talents
10
5. Build alliances 10.
Precious diamonds
9. Cherish your talents
Diamonds
Hire people that are smarter than you
Hire for diversity
Even the biggest diamond has to be cut - push them!
Balance your 3P: People - Profit - Planet
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7. Find your niche
8. Set your goals
9. Cherish your talents
10
5. Build alliances 10. Follow your passion
You can not outsource passion.
Outsource passion?
You can not outsource passion.
(Some people might not agree.Like pimps. And advertising agencies.)
10. Follow your passion
Passion
There can only be 1 real drive for entrepreneurship: passion.
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7. Find your niche
8. Set your goals
9. Cherish your talents
10
5. Build alliances 10. Follow your passion
11. Free extra tip
Your home base
11. Free extra tip
Your home base
An entrepreneur can only be succesful if his partner supports his plans.
(I can only thank Gudrun, Wolf & Kobe that they do, and love them for it.)
1. Your new best friend
2. Show me the money
3. Be a ‘Mensch’
4. Be easy to work with
6. Get a sparring partner
7. Find your niche
8. Set your goals
9. Cherish your talents
10
5. Build alliances 10. Follow your passion
Start your own business!
Start your own business!
It’s a rollercoaster, but a fun one.
And remember...
Don’t give up.
There’s only one difference between an amateur and a professional.
The professional is an amateur that did not give up.
Questions?
