Prepare Your Business to Succeed – The Balanced Start Up
Are you starting a new business? How do you get it right? Ian James and Rupert Jenner talk to Steve Hyland about The Balanced Start-Up. This is a process that allows you to Prepare Your Business to Succeed.
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So how do you Prepare Your Business to Succeed
The Balanced Start-Up. What do ambitious early-stage businesses need to address in order to succeed?
When you Prepare Your Business to Succeed you need a plan. The ‘Balanced Start-up model’ defines the four main business areas that entrepreneurs must address in order to Prepare Your Business to Succeed. Find out how to get your business ready to apply for funding. Ian will explain how to avoid common mistakes by getting independent external support.
Our Expert Guests
Our guests on this edition of Business Connections Live are Ian James, Entrepreneur in Residence at business incubator, SETsquared Surrey and Rupert Jenner, Founder, Playwaze and a member of SETsquared Surrey
Rupert Jenner will highlight lessons learned and how he overcame challenges in order to develop his business.
Ian’s role is to guide ambitious start-ups through the challenges of early stage business development and help them to become ‘investor-ready’ in order to accelerate growth.
SETsquared Surrey, founded in 2002, has helped accelerate over 165 early stage, high growth technology businesses, with 90% surviving more than three years in business. The SETsquared Partnership is the enterprise collaboration between five leading research-intensive universities: Bath, Bristol, Exeter, Southampton and Surrey. Over the past 14 years, SETsquared has helped over 1,000 high-tech start-ups to raise more than £1 billion of investment.
This edition of Business Connections Live will be a valuable insight into why independent external support is critical for ambitious early-stage businesses in order to maximise opportunities and avoid common mistakes
Prepare Your Business to Succeed with The Balanced Start Up
- The 4 areas (Value creation, Growth, Value Delivery and Back-office management) which businesses need to address, even if only at a basic level, in order to have a solid, holistic foundation for growth and be ready to apply for funding.
- The top reason that start-ups fail (making a product that nobody wants) and how to avoid it (develop a bare minimum product and test it in the market to discover customers’ reaction)
- How an incubator environment helps create a sustainable business by providing access to a range of experts that can advise on all aspects of business, from legal and financial to marketing and innovation.
- How mentoring can be invaluable in helping entrepreneurs to progress. (We match each company with a mentor with the relevant experience and skills, who provides advice, guidance and support for the entrepreneur on his/her journey)
- Common challenges faced by entrepreneurs and how they can be overcome. Examples: maintaining cash flow; balancing short-term benefits with long-term goals; delegating tasks to work on the business, not in it;
- The hardest decision made by the entrepreneur
- When does a business know if it’s ready for funding – and what steps should they take to become ‘investor ready’ (maximise value, establish credibility, minimise risk)
Learn the business fundamentals on how your business can achieve:
- A realistic appreciation of the challenges and rewards of being an entrepreneur
- Where to go for expert independent advice and what an incubator environment can offer
- A strong, holistic foundation to their business and a clarity of the company’s purpose
- A lean approach to product development leading to rapid market adoption and growth
- A preparedness for funding that incorporates the optimum ingredients for success and a strong pitch
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