Lecture on entrepreneurship in praxis

Transcription

1 Lecture on entrepreneurship in praxis With the authors of Iværksætterhåndbogen: Dorthe Klyvø & Hanne Wick Read more about the book, interviews and relevant links: Join us at Facebook: Erhvervsakademi Aarhus Alumne January 29, 2015 Dorthe Klyvø Klyvø Tekst (started 2006) Webshop Plus-Kids.dk ( ) Co-Author of Iværksætterhåndbogen Skills: Translation (English Danish) Copywriting (brochures, websites, blogs etc.) Ghost writing (several books) Book editing Counselling on communication strategy and PR Speaker on subjects like PR and entrepreneurship 1

2 Hanne Wick Wick Kommunikation ApS (started 2003) Co-owner of Dorthe s webshop Plus-Kids.dk ( ) Co-Author of Iværksætterhåndbogen Skills: Counselling on entrepreneurship Counselling on communication and marketing, online and print Project manager on internet/web projects Text editing Search Engine Optimization (SEO) Speaker on subjects like SEO, online communication and marketing, social media and entrepreneurship Iværksætterhåndbogen Handbook for entrepreneurs in Danish available in print and as an e-book. For free: Website with interviews and relevant links Newsletter Get to-do list: What to do to start a company in Denmark Get templates for different models (test, reflections) Get templates for terms & conditions Get templates for administration tools Let us know if you would like to buy an English edition of Iværksætterhåndbogen! 2

3 Your challenges What are your challenges? What do you find difficult? 1+1 talks in 5 minutes The WHY what motivates you? Money Time off Great idea Make a difference Save the world Set your goals for your business corresponding to your motivation. What do you want to achieve where would you like to be in 1 year, in 2 years in 10? Remember to measure your success on the goals you have set. 3

4 Alone or together? Describe your skills. What is missing? Focus on your skills and find a partner or hire somebody for the rest Finding the right partner can be a challenge also in business Don t look for a clone of yourself look for complementary skills Discuss your expectations Think about worse case scenarios and best case too Make written agreements or contracts Choose type of company depending on: One or more owners, personal economy, high-risk or low-risk company, financing, exit strategy Business models Describe your business models - or how are you going to earn money : WHAT are you selling? WHO are you selling it to? HOW are you selling it? Describe the business model s potential for growth. You can have several business models in your company. 4

5 The 5 most important rules for start-ups! Do as we say, not as we do ;-) Rule no 1: Be good - and behave Rule no 2: Learn to enjoy selling Rule no 3: Become a clever buyer Rule no 4: Learn to negotiate and do it! Rule no 5: Stay sharp and healthy! Rule no 1: Be good and behave! Be good at what you do! Your business will be founded on your skills! You have to be very good at what you do so that you can afford to pay others do all the things you are NOT so good at. Don t be afraid to fail! Behave! Remember that your company s image is based on you, what you do and how you do it. It takes years to build a good image to become a brand. But it takes very little time to destroy the good image. You simply can t afford to do a bad job. 5

6 Rule no 2: Learn to enjoy selling You can hire others to do the selling for you but you still need to network and be a good ambassador for your company and to sell. Anybody can learn how to sell you just have to find YOUR way of selling. Network! Think How can I help instead of How can I sell. You have two ears and one mouth. Recommend others. Rule no 3: Be a clever buyer Know the usual terms and conditions in your market. Fast growth can be very hard on the company s liquidity so focus on your payment terms. Be a professional buyer make sure you know enough about the services you buy to know what to expect of price and service. If you act like a professional buyer you will get a more professional offer. And you won t seem to be too easy to cheat. Base the cooperation on mutual trust and good contracts 6

7 Rule no 4: Be ready to negotiate! If you sell your time, skills and knowledge you will need to negotiate on a daily basis. Learn to deal with a lot of Nos. For some entrepreneurs this is the greatest challenge: To be able to rise again each time you get turned down. A No is just the start-signal for a new negotiation. Rule no 5: Stay sharp and healthy You are the biggest asset of your company. Keep yourself in good shape mentally and physically. Eat healthily, take time off, exercise and have fun! Keep learning so you stay sharp and keep your market value. Choose to work with people that are even better than you so that you can learn from them. Stay focused. Develop your skills Improve yourself. And remember always to be a good boss also if you are the only employee. 7

8 Rule no 6 the bonus rule: Read our book! 8