Starting a business - that helps others start their business

[Henry_A]

Over the last 7 years, I've helped set up 7 business. Each one has been different (coaching, estate agent, animation, photographer, restaurant, consultancy, event management).

However different they are, they all faced the same start-up challenges in terms of incorporation, banking, accounting, establishing a base etc. They all faced the same administration challenges i.e. tracking, logistics, salaries, client communication etc. Some had other challenges such as stock, staff training, quality control - but they all had the same underlying baseline - high standards.

I found I have really enjoyed doing this type of work - delivering an entire project from start to end. I now find myself wanting to do this as a viable business in itself. Until today I've only done it as a favour / low pay / other forms of payment. However, I think I can provide the entire start-up package at a competitive price, to supplement my day job (or perhaps replace it if enough business!).

My USP is my experience, getting it right the first time, and providing guidance and setting standards from the very beginning. I can also create low cost systems to help companies get off their ground from the most efficient method possible (think scripting and bots).

The biggest issue is - how do I make myself known? I can't really cold call people, and the business I've gotten so far has all been word of mouth. If I wanted to find new start ups, where is the best place to make myself known?

Thanks!

 

[Mr D]

Where do new businesses go?
What do new businesses read?

Some places occasionally do a new business fair - bunch of suppliers of goods and services each with a table in a big room, those just started and those looking to start attend...
The FSB has organised some I think. Local council in at least one area organised one.

 

[MOIC]

Were all 7 businesses successful?

If you have the experience in the businesses you started, stick to those trades first.

Different businesses may require a different skill set, which need learning first before charging with confidence.

Good luck.

 

[mattk]

Write articles about key start-up challenges, talking at conferences, building a presence on business forums, referrals from accountants and solicitors and so on.

I think the challenge you will face is whether new start-up recognise the challenges that you can solve and therefore see value in paying for your services. When I started my company I had meetings with a number of accountants, who will happily give a hour's free consultancy and found out everything I needed to know about tax, VAT, A/B shares and so on and then went with the accountant I felt the best rapport with.

I'm not sure, as a start-up, I'd see value in paying for someone to go above and beyond what can be gleaned for free.

 

[Mr D]

I'd guess most of us experienced business owners could put together some systems to help new businesses in the same field get off the ground.
Stuff that works. For us.
Whether its what someone else needs or is even efficient for them to have is another matter.

Possibly there is a need from some new business owners for someone to advise on setup, whether they have the spare money and lack of knowledge is more open to question.

 

[Clinton]

Until today I've only done it as a favour / low pay / other forms of payment

That's the problem with startups, they have no bloomin' money! That's why I avoid them.

I'm running workshops for startups and small businesses on Saturday and on Sunday (this coming weekend). It's part of a larger (paid) event in the Newark showground. I did this last year as well. But I don't charge for this stuff. There's no point really. I can't be bothered raising an invoice for £3.20 or whatever.

And it's not even like the people who attend are likely candidates for my actual paid services (well, they will be if they get to a few million in turnover...but I'm not holding my breath).

My advice: Do it for free, to build good karma, to pay for your sins elsewhere (like giving people grief in UKBF) or simply because you're bored. Don't do it for the money!

 

[Noah]

My advice: Do it for free, to build good karma, to pay for your sins elsewhere (like giving people grief in UKBF) or simply because you're bored. Don't do it for the money!

Nicely said; your karma is still in the red here, but a little bit less now. Feel good?

 

[Financial-Modeller]

That's the problem with startups, they have no bloomin' money! That's why I avoid them.

And it's not even like the people who attend are likely candidates for my actual paid services (well, they will be if they get to a few million in turnover...but I'm not holding my breath).

My advice: Do it for free, to build good karma, to pay for your sins elsewhere (like giving people grief in UKBF) or simply because you're bored. Don't do it for the money!

This.

Although one course of action would be to join a growth hub or similar public sector / university start-up partnerships as an advisor.

 

[CVRO]

You could set up an incubator or an accelerator. Or try to find a job with one of the established business in the area so you can learn to run them before you have a go at setting up on your own.

 

[Mark T Jones]

As others have said, your challenge will be to find start ups who have money and who actually put value on professional advice

You will witness on here how many start ups expect quality personal advice for free. It’s also part of the reason why I moved away from voluntary mentoring and training for start ups

That said, going the voluntary route will give you the opportunity to hand pick those businesses who value advice

 

[JEREMY HAWKE]

As others have said, your challenge will be to find start ups who have money and who actually put value on professional advice

You will witness on here how many start ups expect quality personal advice for free. It’s also part of the reason why I moved away from voluntary mentoring and training for start ups

That said, going the voluntary route will give you the opportunity to hand pick those businesses who value advice

I don't see why you would be willing to help set up a business for free when that business could in the end become highly profitable off the back of your free expertise

 

[Noah]

I don't see why you would be willing to help set up a business for free when that business could in the end become highly profitable off the back of your free expertise

In a nutshell : The time cost of negotiating rates, terms, and contracts for a bunch of start-ups - many of whom will not want to pay the invoice even if they actually get off the ground - makes the actual chargeable rate for one's time far beyond the means of those companies that might be successful and might actually pay the bill.

I'd imagine it's something like that, anyway.

 

[Mark T Jones]

I don't see why you would be willing to help set up a business for free when that business could in the end become highly profitable off the back of your free expertise

I have to admire your optimism.

Seriously though, it was an interesting but frustrating learning curve

 

[Mr D]

I don't see why you would be willing to help set up a business for free when that business could in the end become highly profitable off the back of your free expertise

Giving something to others.

It's why people volunteer time or money. It's why people provide help online, offline, do help videos etc - for free.
Neighbour has a tree in her garden, branch banging on her bedroom window. My missus is going over there later today to remove the branch. Not for money, not for being owed a favour, simply because she wants to help the little old lady next door.

 

[Noah]

Giving something to others.

This is a business forum.

 

[Mr D]

This is a business forum.

And some people give their time and knowledge to help others on this business forum. Good isn't it?

 

[Henry_A]

Were all 7 businesses successful?

If you have the experience in the businesses you started, stick to those trades first.

Different businesses may require a different skill set, which need learning first before charging with confidence.

Good luck.

5 are still operating today, 4 of these made profit in their first year - so I think so!

 

[TheoNe]

As a small business owner myself, I know of a few different ways to make yourself know to the start-up community.

Start-up competitions - these events occur on a constant basis and are a great way of finding fantastic groups of recently-graduated entrepreneurs or former employees who have turned to the start-up world to help. They attend events like this to gain exposure, network with like minded individuals and find either financial or professional assistance.

Start-up Incubators - these co-working spaces that enable startups to focus on building their business from the ground in a structured and supportive environment. These spaces are numerous throughout the country and are great places to find those entrepreneurs who are open to valuable mentorship and guidance of any sort.

Online Networking Platforms - a number of web-based channels such as LinkedIn host the details of start-ups and their founders, accessible to anyone who creates an account themselves. These professional networking sites are great at certain niches where start-ups tend to proliferate. Platforms like this are a great way of marketing yourself to a great number of start-ups from all over the world - quickly and effectively!

 

[Deleted member 59730]

5 are still operating today, 4 of these made profit in their first year - so I think so!

So 2 failed! How many of the 5 have been going the full 7 years?

 

[JEREMY HAWKE]

Giving something to others.

It's why people volunteer time or money. It's why people provide help online, offline, do help videos etc - for free.
Neighbour has a tree in her garden, branch banging on her bedroom window. My missus is going over there later today to remove the branch. Not for money, not for being owed a favour, simply because she wants to help the little old lady next door.

My family and I volunteer our time to help to raise money for a little local girl that has cancer but Im £XXXXd if I would put the same effort in for somebody else to make money

 

[Mark_Nicholson_LeadExpert]

Hi Henry.

There are many grants available to help start-ups pay for consulting services and business dev services. So you could always tap into these grants to help take some of the pressure off of the start-up plus you get paid.

Also, if you are just doing it for some fun, offer to take a % of their profits instead of an upfront payment.

Either way, start-ups always say they don't have money, but when it comes to it, they do, they just don't want to give you it because they don't believe you are a good investment. So it's you job to show them you are.

If you are noticing a recurring theme, think about creating an online course, coaching programme, challenge, something that they can go through, that doesn't take much of your time up and is cheap for them, but still makes you an income. This could be part of your Value Ladder of services. Firstly you could offer some free basic guidance, then an online course, and then maybe you offer 1-to-1 consulting, from there you could look at group coaching, etc.

It's the perfect space for it if they are all experiencing the same problems and require similar solutions.

It's very easy to set these type of things up online too. I've got 3 different online training programmes as well as 1 online coaching programme, plus 1-to-1 clients who I teach to do this stuff. (I'm not trying to promote myself here, just want to let you know that it is possible)