The #IAmEnterprising Competition Comes To A Finale And We Have A Winner!

Wow! What an exciting 6 months we’ve had with the second annual #IAmEnterprising competition, funded by the Skill and Opportunity fund. Last week marked the final hurdle – The Championship Finale! Our City of Liverpool College students had been building up to this all important day for weeks and weeks and finally it was upon them!

The 7 students in the final were Matt Lawson with Matt Lawson Bass, Francezka and Gabriella Bell with Choux Box Bakery, Vladislav Siksnian with his Liverpool Baltic Community Centre, Lauren Woodcock and her online business, Calamity LOL, Paul Simonsen and Furniture from Design, Kath Heavyside and Wellness with Kath and Lisa Stambuli as Lisa Stambuli Photography.

This year the #IAmEnterprising Championship Final was held at The Women’s Organisation HQ, 54 St James Street in the Baltic Triangle. Our seven finalists were invited here to pitch their ideas in a presentation to our competition judges. 

The difficult task of judging was down to Donal Bannon, partners of headline sponsors of the competition, Morecrofts Solicitors, Jackie Williams, Enterprise Director at The Women’s Organisation, David Melvin, Relationship Manager at Natwest Bank and Joanne Austin, Digital Marketing and Engagement Coordinator at The Women’s Organisation.

The finalists had previously all attended our #IAmEnterprising Business Bootcamp back in March where they spent a full day working with a team of business experts on their business plans, looking at marketing, market research, financial forecasting and pitching, so they were all fully prepared to give great presentations to our four judges!

The day flew by as our nervous finalists waited for their turn to pitch their businesses and tell the judges why their idea was worthy of the £3000 prize package! Each finalist had 10 minutes to speak about their idea in whichever format they liked and were then grilled by the judges in a question and answer session! We couldn’t believe the incredibly high standard of these presentations, it was clear that the students knew their businesses inside and out and were prepared to tell the judges why they should be the winner!

But of course, there can only be one winner! So once the finalists had finished their presentations it was time for the judges to deliberate, all marking and decisions were made using a strict matrix style approach to ensure fairness and transparency, but even so, the decision was a difficult one to make with sure close competition.

As the students were called back into the presentation room to hear the results, the tension was palpable. Donal Bannon and Jackie Williams made the announcement. The winner of #IAmEnterprising 2016 was crowned…Matt Lawton of Matt Lawton Bass!

Matt’s idea was to develop a website providing lessons to those wanting to learn bass guitar through courses, eBooks and other resources. He gave a great presentation and had a clear business plan which he conveyed extremely well!

Matt told us: ‘I am delighted to have won #IAmEnterprising! Going through this process made me sit down and actually think about how my online following could convert into a business model. I actually said to my girlfriend, even if I didn’t win the competition that I should do this anyway. It was the first time, I’d actually sat down and wrote a Business Plan and thought about 12 month financial projection. I’ve spent a lot of time over the years being involved in music and learning about the industry, winning this competition is hopefully going to help me develop a successful and profitable business.  

Runners-Up were also awarded a £100 cash prize and the runners up were; Gabriella and Francezka Bell of Choux Box Bakery, Lauren Woodcock with Calamity LOL and Paul Simonsen with ‘Furniture from Design’

It was a tough day for the finalists, but we know that they all got something out of the process, whether that be experience of pitching, getting to know their business idea better or receiving help and support from business experts along the way.

Donal Bannon, Partner at Morecrofts Solicitors who are the headline sponsors of the competition said; ‘I do hope that all the finalists, particularly those who did not win the prize, will not be discouraged from pursuing their business ideas; after all Alan Sugar and Richard Branson both started their businesses working from home and they didn’t win any prizes!’

All of the finalists in the #IAmEnterprising Competition will continue to be supported by The Women’s Organisation and City of Liverpool College’s Enterprise Club to continue with their dreams of launching their businesses.

The #IAmEnterprising Team would like to say a big thank you to all of the finalists of the competition, our fantastic judges and our sponsors and partners; Morecrofts, City of Liverpool College, Bold Online Marketing, Pink Media Ltd and Lewis Evans Accountancy for their support throughout the competition!

City of Liverpool College Students Battled Through #IAmEnterprising BootCamp

Yesterday saw the next round of the #IAmEnterprising competition over at City of Liverpool College. And college students were put through their paces for BootCamp!

The students spent the day in intensive sessions learning all about Market Research, Marketing and Branding, Legal Aspects, Financial Planning, and Presentation skills.

After a few light exercises to start the day and wake up the students we got down to business and started with Marketing and Market Research sessions.

Senior Business Advisor Mike Marsden told the students: ‘You don’t realise it but you are researching every day. Every Facebook comment and status you read. Every trip advisor or ebay review you read is giving you insight into what people think. So when you are asked to go out and conduct market Research, don’t feel like you are starting from scratch’.

Over in the Marketing session, students learnt about branding, packaging, creating a buzz and money saving tips to get their word ‘out there’.

Following to morning sessions we were on the move over to a VIP room over on Prince’s Dock waterfront for the afternoon sessions. It was all very ‘Lord Sugar will see you now’.. a great environment for the budding entrepreneurs to feel inspired and empowered.

But not before we all refuelled with a good helping of Domino’s pizza.  

*And there was more...

The afternoon session started with a very special guest Donal Bannon from Morecrofts, and lead sponsors on the competition, who came and talked about legalities of business. Everything from trademarking to terms of business, he had it covered. And anything he didn't, the students were not afraid to ask.

Finance and presentation skills were the last sessions of the afternoon where training co-ordinator from The Women’s Organisation, Bernie Cox, helped the students with hints and tips for if they reached the final stage of the competition. And Mike Marsden presented cashflow exercises and advice to help students understand the numbers.

We don’t call this stage of the competition BootCamp for nothing! It sure was an intensive day but the feedback was great and students and now armed with lots of information to develop their ideas ahead of the 8^th April where we will then short list the best five to come through to the final pitch of the competition. 

Good luck to all of the entrants, thank you as always to all of our sponsors and may the best business win.

Meet The Sponsors; Judith O'Brien, Managing Director of Bold Online Marketing

#IAmEnterprising is in full force! The deadline for submitting the first Business Briefs is over, and Business Bootcamp is on its way! So we thought that now would be the perfect time to introduce the sponsors of #IAmEnterprising. The sponsors are a massive part of the competition and help to make up the Prize Package for the winner of this year’s #IAmEnterprising!

Our third sponsor to announce is the incredible Bold Online Marketing! Bold Online Marketing will be offering the lucky winner of the #IAmEnterprising competition support with their web development or help to develop a digital marketing strategy for their business. What a great opportunity! As we have worked with many business start-ups, we know that websites and digital marketing can be something that people struggle with, so this fantastic prize will certainly go to good use!

So, who are Bold Online Marketing? They told us, that Bold Online Marketing is a digital agency with bold results!

Bold Online Marketing pride themselves on having passion for all things digital, a great track record in excellent customer service alongside an in-depth understanding of what developing and growing business online is all about.

Their team have helped lots of companies achieve online success. They offer a bespoke range of Digital Marketing services to suit a wide variety of needs. They believe that your success is their success and know that a happy customer is a loyal customer and there is nothing better than having a great customer relationship – both online and offline!

As with all of our sponsors, we asked them the same question, what words of wisdom did they have for the #IAmEnterprising entrants?

“The more ways you market, the more people you reach.

A business idea is just another idea unless it is backed up by a business plan, great marketing, commitment and hard work.”

- Judith O'Brien, Managing Director of Bold Online Marketing

Meet The Sponsors; Nicola Pink of Pink Media Ltd

#IAmEnterprising is in full force! The deadline for submitting the first Business Briefs is over, and Business Bootcamp is on its way! So we thought that now would be the perfect time to introduce the sponsors of #IAmEnterprising. The sponsors are a massive part of the competition and help to make up the Prize Package for the winner of this year’s #IAmEnterprising!

We are over the moon to introduce Pink Media Ltd! This is Pink Media’s first year sponsoring the event and they will be generously donating a day of working with the Pink Media team of experts to help the #IAmEnterprising winner to develop a PR strategy for their business!

So, who are Pink Media? Based in the heart of Liverpool’s vibrant Baltic Triangle, Pink Media delivers a range of PR services including effective short and long term campaigns, press release writing and sell-in to journalists, together with effective crisis management, media interview and client photo shoots to name a few.

Their clients range from local independent businesses to world-renowned brands with an international following. At Pink Media, they appreciate that all clients are different, and with this in mind they tailor their services accordingly to ensure the best possible return on investment.

At the helm of Pink Media, is Director; Nicola Pink. Nicola started Pink Media back in 2011, working from her back bedroom after leaving her job, now in the space of three years, there is a team of three working from an office in the home of The Women’s Organisation, 54 St James Street, and a client list which includes Hard Day’s Night Hotel, Sefton Park Palm House, Delifonsecca and The Epstein Theatre. 

The Women’s Organisation has a fantastic interview with Nicola over on their blog if you’d like to find out more about her journey to success.

We asked Nicola why she was pleased to be able to sponsor the #IAmEnterprising Competition...

Director of Pink Media Nicola Pink said: “As an indepen

dent, it gives me a great sense of pride to be supporting the next generation to achieve their entrepreneurial goals, with the help of other like-minded businesses.

“Liverpool is a city that is thriving with young talent eager to break the mould. By collectively sharing our varied industry knowledge and extensive experience, we are able to guide aspiring entrepreneurs and help them take the first steps in business.

“By taking part in the #IAmEnterprising competition not only will the winner receive substantial financial backing, they will also gain an invaluable insight into the key business aspects that are essential for business start-up.”

Meet The Sponsors: Donal Bannon, Partner of Morecrofts Solicitors

#IAmEnterprising is in full force! The deadline for submitting the first Business Briefs is over, and Business Bootcamp is on its way! So we thought that now would be the perfect time to introduce the sponsors of #IAmEnterprising. The sponsors are a massive part of the competition and help to make up the Prize Package for the winner of this year’s #IAmEnterprising!

Firstly, we are delighted to introduce Morecrofts Solicitors! This is Morecrofts second year as the headline sponsor of #IAmEnterprising and they are generously funding the £1,000 cash sponsorship that makes up the £3,000 Prize Package. This £1,000 cash can be used by the winner of the competition in whichever way they see fit to help them start their business. Whether that’s buying equipment, renting premises, buying marketing materials or throwing a launch party for the business! The £1,000 cash can be used for anything to do with the business idea!

So who are the wonderful Morecrofts? We found out…

‘Morecrofts is one of Liverpool’s oldest most respected businesses. In fact, you might be surprised to learn how old.

Established in 1813, we have been in existence longer than many of our city’s most recognisable landmarks. St George’s Hall, both iconic cathedrals, even the world famous Liver Building, were all built whilst we have been busy practising law on behalf of the city’s people and its businesses.’

Morecrofts Solicitors is one of Liverpool’s oldest Family Law Solicitors and most respected Private and Commercial Law Firms, now offering services nationwide. They pride themselves on legal excellence and exceptional customer service, a formula that has resulted in clients returning to them time and time again.

Donnal with the 2015 winner; Kate Johnson of Gallery Cocoa

So now you know that who Morecrofts are, we’ve got some words of wisdom from Donal Bannon, who is a Partner there. Donal has been instrumental in the #IAmEnterprising competition, participating as a judge at last year’s Championship Event and will be helping the team at this year’s Business Bootcamp.

Here are Donal’s words of wisdom to the #IAmEnterprising competition entrants…

‘I would advise those entering the competition to plan their presentation for the Championship Event carefully, and think about their presentation. It should be clear who their target market is, how their business will be profitable and not face cash flow issues and what, if any, is the potential for growth’

World Renowned DJ, Yousef Inspires Young Entrepreneurs To Start Realising Their Dreams Now

We are delighted to announce that #IAmEnterprising has interviewed Crosby’s own Global DJ Yousef, a force to be reckoned with in the music industry on everything to do with his career, his journey to success and his advice to the City of Liverpool College students on how they can begin to realise their dreams and start turning them into a reality, now.

Yousef is a complete force within electronic music, and has come to represent the ethos of the modern DJ. He’s a seasoned authentic and peerless DJ, a label owner, a producer and remixer, an event organiser, a mentor, all with a seemingly relentless amount of vision. You can’t discuss Yousef and not mention Circus, his world renowned club event. Now in its 13^th year of activity in its home city of Liverpool, it’s one of the most important soirees of its kind, anywhere… And he’s done it all himself!

He’s a very busy guy but we managed to squeeze half an hour into his incredibly busy diary for a quick chat with him. Here’s what the man himself had to say…

What are your businesses called, and how long have you been running them for?

I have run my own business as a globally touring DJ for over 15 years, Circus Club events for 13 years and Circus Recordings Record Label for 6 ears. As well as this I have been producing music for 10 years.

What is the best part about running your own business?

I like to make my own decisions, I think about an idea and I try to put it into practice without anyone getting in my way. Being self-sufficient is very important to me.

What advice would you give to your younger self?

I would suggest getting on with the wider side of DJ-ing like a label, events and producing music sooner, and to stop relying on others to give you a leg up. It’s quicker and more effective to learn what you need to know yourself and then you armed sooner, better and stronger.

What advice would you give to someone wanting to start their own business?

For my field, it was always about being honest, hard-working and dedicated to music. I would always say be fair wit people and respectful and patient too. Being your own boss sounds like fun but its many more hours and little in the way of safety nets. A boss does not have a baby sitter, so be prepared to put the hours in no matter what vocation you choose. Hard work equals a result, that’s the formula.

Why should students enter #IAmEnterprising to be in with a chance of winning a £3000 business investment?

Having a mentor and a guide is much more valuable than £3000 in the long run so make the most of the expertise of the prize sponsors. I was lucky enough to get £650 to buy my decks when I was 17; there was no other way I could have afforded them otherwise. So get the right kit that you need for your business, use it wisely and take care of it because it could set you up for the rest of your career.

Anything else you would like to add?

While your friends are messing around on Social Media and games consoles, be smart and focus on your goals. Put the hours in and see the results in a few years rather than if at all. Live and breathe your idea and it will come to life. 

Find out more about Yousef by visiting his website 

So... You've heard the words from the man himself, work hard, learn your craft and find yourself a mentor to inspire your journey. Now you've got his advice, put it into practice and enter #IAmEnterprising NOW! 

The Cost Of Starting Your Own Business

So you have finally decided to take the plunge and plan for that business idea you have been thinking about for a while. As you work through the list of things to consider before you start (aka a Business Plan), there is one vital thing that needs careful consideration and thought to help you understand the viability of your idea. – Financial Planning. And more specifically, Start Up Costs.

When planning for your business it is essential to do that number crunching at the start. The start up costs required for businesses vary massively and depend on many different factors, mainly your type of business.

Here are some typical start up costs to consider when starting up:

Stock – if you are making or selling a product, you may need to buy a supply of stock to help you get going. For retail businesses, more consideration needs to be given to shop stock in order to fill shelves/rails and present a fresh option for returning customers.

Rent: If you require premises for your business you will need to consider the first month (or two months) rent and possibly a deposit and admin fee. You will also have energy bills and additional costs to consider.

Rates: You may be required to pay business rates to the local authority – 

Business Insurance: This is arguably one of the most important things to research when starting a business. The type of business you are starting will determine the  type and level of insurance needed. Shop round for a range of quotes. 

Marketing and Advertising: Give careful consideration to your marketing plan as you start out in business. Where possible (and appropriate) use free tools such as social media to promote yourself. Business cards, websites, leaflets and design can all vary massively in price and the impact of your tools must be considered before spending huge amounts budget on them.

Telephone and Internet: If you are using a separate phone for your business you will need to take into account additional bills/connection fees. This will also apply to internet packages.                                                                                          

Postage: if you run an online business ensure that you factor in your postage costs. Not accounting for postage costs can seriously eat into your profits to it’s important to consider this from the outset.

It is crucial to be realistic about these costs from the outset as underfunding can often be the downfall of new start up businesses.

You may want to start with a ‘wish list’ and work backwards from there and you should always consider when your income from sales will come into the business (Cashflow) as you might need to plan for the first few months costs initially.

A carefully thought out financial plan combined with positive market research indications, can be a great recipe for startup success.

You can find out more information about Business Insurance from a great blog, written by Mitchell Charlesworth

Top Tips For Creating A Great Plan For Your Business

So you want to start your own business? Before you do anything, a business plan needs to happen! Sitting down to write a business plan might sound like something you don't want to do, when you just want to crack on with starting the business. But believe us, it will be worth it in the long run.

Writing a Business Plan ensures you are on track, have a clear idea and a clear method to carrying out your idea. As part of the #IAmEnterprising competition, you'll need to complete a short Business Plan to be invited along to our Business Bootcamp where you'll hear from experts on how to better your Business Plan. 

But, in the meantime, get your Business Plan started with our top tips! If you need assistance with it, then give us a shout, we're on hand to help out, you can email us on iamenterprising@thewo.org.uk or ring us on 0151 706 8111, or visit Melanie Williams in the Learning Exchange Centre who is on hand for helping you with your Business Plan! 

So, here are #IAmEnterprising's Top Tips for your Business Plan!

Be Organised and Focused

Okay, we're sorry to break it to you, but having a great business idea does not mean you have a great business. To get ahead, you'll need to write a business plan to encourage yourself to evaluate your idea in detail. 

You can use the #IAmEnterprising Business Plan Brief to keep yourself in track and construct your business idea.

Understand your customer

Researching the market that you are thinking of entering is absolutely essential. Talk to your potential customers and get an idea of how they would react to your product or service. How much they expect to pay for your products and services? 

Can you describe your potential customers’ characteristics accurately in terms of their geographic and demographic profile, their employment status, profession, special interests and membership of clubs. Business customers may be located in a specific area or in a particular sector etc.

Understand your competition

Market research also enables you to get to grips with your competition. What other products and services like yours are out there already? 

Not all businesses stem from a revolutionary idea and many successful businesses are born out of an improvement to an old concept. 

Did you look at your competitors? Do you know their strength and weakness? How your competitors promote their business?  How could you compete with your competitors? What makes you different from them? Would you be able to offer customers something noticeably better, cheaper, easier than what they are used to if you are going to draw them away from the familiar.

Be realistic

Once you know your customer and competition you will be able to define your marketing plan where you lay out the products and services you are going to offer, how much you are going to charge, how you would promote your business, would the business operate from online or a venue? How are you going to brand your business i.e. business name and logo?

The final part of the business plan will be focus on the start-up cost and projection of income. You will need to consider all the costs of setting up and be realistic. Projected sale is used to set out realistic targets you would like to achieve in the first 12 month.

If you want to enter #IAmEnterprising, then you can fill in your Business Brief here! 

And if you want to find out more, get in touch by emailing iamenterprising@thewo.org.uk or ringing us on 0151 706 8111