Be the FIRST to TEST THE entrepreneurship formula that will REVOLUTIONISE 21st Century Business!

By Denise at www.designovation.co.uk

Be the FIRST to TEST THE entrepreneurship formula that will REVOLUTIONISE 21st Century Business!

Over the past 30 years I have avidly studied & researched Entrepreneurs from attending their seminars, reading their books to talking to them face to face. My passion to understand what makes a Great Entrepreneur and Enterprise began at the age of 15 serving tea & coffee on exhibition stands as my father sold his engineering products to the business owners of haulage, plant, transport, oil & gas, farming & food companies. Followed by the experiences in my own business as I negotiated contracts with entrepreneurs or later in my career mentoring them as business start-ups.

Through my contradicting career in both Business and Design my research has concluded that the appalling mortality rate for business start-ups beyond year one is based on the absence of one essential SECRET ingredient PLUS an understanding of How to Design & Invent a sustainable business in the 21st Century and knowledge of whether you have the credentials of what it takes to PASS the entry exam as an Entrepreneur.

The ONE essential ingredient rarely discussed in business is the same essential ingredient which is responsible for creating solutions, progress, innovation & economic growth and is central to my ENTREPRENEURSHIP FORMULA "Black Box & White Ball Thinking".

Why do we need an ENTREPRENEURSHIP FORMULA "Black Box & White Ball Thinking"?

Look at the statistics!

Why are the majority of business's Sole traders with no employees?

Why do we have such ridiculous Business failures- or infant mortality rates Year 5? mortality rates Year 10?

INTERESTED? WAIT till 7tH December & learn more!

Here is just one piece of the jigsaw puzzle- our current obsession with robotic process's, systems, and the franchise phenomenon is eroding free thinking and our economical competitiveness for growth.

Why? 

At the age of 25 as a relatively new business start-up, I had already read & listened to multiple business books and audio programs due to being brought up in a family in business. I was introduced to a book by a fellow young entrepreneur (whom later made his multi million pound fortune in Mobile Telephones) . This book totally transformed my perception and thinking of business forever, and provided a solution to building a business which later enabled me to build a successful business (allowing me as a mother to put my young family first). That book was Michael Gerber's "The E-Myth Revisited".

Almost 20 years on this is still one of my No.1 Favourite books which I have recommended to countless business friends. For those of you unfamiliar with the E-Myth it simply promotes the benefits and logic behind the franchise culture and business's built on strong, methodical systems and operating systems.

Disappointingly though 20 years on it's success and like minded business philosophies have been taken quite literally. 

Tell me if I am wrong,  we now have a culture of business obsessed with operating systems & rules. 8 out of 10  call centres or banks etc. are scripted, impersonal, many with systems for systems sake, rules over ride personal initiative and common sense.

Yes rules, systems and processes are essential to business but this is only 50% of what makes a successful & sustainable business & economy.

The fact is that our Greatest Entrepreneurs & thinkers don't define the characteristics of the business analyst or bureaucrat: 

Apple- Steve Jobs/ Steve Wozniak -Innovation, Design, Engineering,Imagination.

Microsoft- Bill Gates- Technology, Ideas, Vision.

Dyson-James Dyson- IP, Patents, Innovation, Engineering.

Paypal/Tesla- Elon Musk- Vision, Engineering, Science.

They epitomize freedom of expression, thought & ideas, they are predominantly rebels and are all ultimately free thinkers.

Where are the creative thinkers, Designers & Innovators in your organization?

What are you investing your time & resources in?

Why not Products & R&D? (see Dyson/Dimbleby lecture ) is all your focus on Advertising & marketing

http://www.bbc.co.uk/pressoffice/pressreleases/stories/2004/12_december/09/dyson.shtml

Are you generating new ideas & models of enterprise? or are you bogged down in refining processes systems & rules

Are you creating the next innovation & investing in IP or are you too focused on building a safe unimaginative business model i.e. franchise, service business.

Are you building a team of skilled, free thinkers i.e. engineers, technicians, scientists? or a predominantly robotic workforce another Call centre culture.

Interested in seeing the other 39 pieces of the JIGSAW?

KEEP POSTED  for the 7th DECEMBER

Don't miss out Follow Denise Now! https://twitter.com/DesignovationUK

Be the first to TEST the ENTREPRENEURSHIP FORMULA that will 

REVOLUTIONISE  HOW YOU THINK ABOUT BUSINESS

Published by NYK Media on the Frugaleur blog

An SME’s guide to professional indemnity and business insurance

No business owner wants to contemplate the unpleasant possibility of damage or loss, but being unprepared is even worse. Proper business insurance is one of the surest ways of protecting your resources and has become a necessity for doing business.

The choice can be bewildering though, so to help determine which insurance products are right for your business, we’ll examine five different types so you can assess what’s right for your organisation.

Employers’ liability insurance

Unless you are self-employed and have no staff, employers’ liability insurance is a legal requirement for your business. It not only protects your employees but also your company in the event that a staff member should suffer an injury at work or falls ill as a result of their job. This regulation also… Read more here

Navigating the world of social media

For our intrepid Frugaleur challengers with associated websites and online presence: There are many different ways to use social media to promote a business. Social media is a fantastic way for a company to connect with their customers and attract others. Here are some things to keep in mind when creating a social media strategy for your company.

One of the least expensive forms of advertising

You will be able to afford to do more advertising or at least save a lot on your marketing expenses if you use social media platforms. While people of all age groups are now using the internet daily, younger consumers get almost all of their news and advertising messages via online sources. Since there are not as many resources used, you save money and reduce your company's environmental footprint by not using lots of paper, ink and postage.

Saves time

Messages posted to Facebook, Twitter and LinkedIn are posted almost instantaneously, so your customers and potential customers can view your message quickly. This allows for more steady advertising and educational opportunities. If those that view your posts like what they see, they can share your message, which means it is reaching even more people. You don't have to wait for advertisements to come out or plan a long time ahead to get your message out there.

Drives traffic to your website or other social media sites

The whole dynamic of social media is about connections. If someone finds your business on Facebook or LinkedIn, they may well also visit your website. In turn, those that visit your website will be inclined to like your Facebook page. If … Read more

Published as part of Scottish Multimedia web project and the Frugaleur challenge

Can I Afford to Become a Frugal Entrepreneur?

What is a Frugaleur?

A Frugaleur is a self-sustainable career choice, a frugal entrepreneur, a job with many hats!

'Homeworker' means exactly that - you work from your home.


Tiny garden office

Frugal entrepreneurs can be based anywhere, even in a garden shed! You can pretty much work whatever hours suit you and work wherever you want. On the flipside, there's no holiday pay, no guarantee of unemployment benefit if your income vanishes, no final salary and no company pension. We need to keep accounts, do annual tax returns, pay income tax when (or if) due and pay National Insurance. That's the price you pay for being self-employed. But it's also a fabulous position to be in when that great opportunity presents itself and you're free to grab it!

If anyone says to me that they hate going out to work, hate sharing the responsibility of being a parent with some stranger, hate spending hours commuting or hate never having any time to do things for themselves or to spend with their families, then my answer to that is to work out how soon you can afford to QUIT! Set your sights on the lifestyle that you want and aim beyond that, then don't give up until you've reached your goal. Otherwise, quit moaning.

Remember - You may need back-up in the form of savings to tide you over during start-up and for any particularly lean times. This is why you need to adopt a frugal lifestyle and equally frugal work ethics.

Many people will use the excuse that they can't afford to give up work, then blame it on a host of other reasons - too many bills, too many debts, got to pay the mortgage... you get the picture. What they really mean is that they aren't prepared to make the necessary changes. The other thing about this scenario is the fact that many people just don't know how much they are actually spending and, worse still, how much their job COSTS to keep, let alone how they will earn that amount without the security of an employer!

But first, let's look at all the career options that are rolled into just becoming a frugaleur. I used the Prospects and Wikipedia websites for my speedy research. Here, you will see some of the hats you'll need to wear during life as a frugaleur. Life certainly doesn't get boring!

Entrepreneur - a person who is willing to launch a new venture, project or enterprise and accept full responsibility for the outcome.

• Frugaleur - a person who is willing to launch a new frugal venture, project or enterprise and accept full responsibility for the outcome.

Quantity surveyor - manages costs relating to building and civil (as opposed to military) engineering projects, from the initial calculations to the final figures. Surveyors seek to minimise the costs of a project and enhance value for money, while still achieving the required standards and quality.

• Frugaleur - manages costs relating to building a safe and secure homelife, remaining civil throughout and engineering. Frugaleurs seek to minimise the costs of running the household and enhance value for money, while still achieving the required standards and quality.

Project Manager - the person responsible for accomplishing the stated project objectives. Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint for projects, which are cost, time, and quality (also known as scope). The project can be anything.

• Frugaleur - the person responsible for accomplishing the stated project objectives. Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the triple constraint for projects, which are cost, time, and quality (also known as scope). This particular project is the business of frugal living.

Accountant - a practitioner of accountancy (UK) or accounting (US), which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.

• Frugaleur - is responsible for finances and accounts relating to the household, measuring, disclosing or providing assurance about the financial information that helps them make decisions about allocating resources (the income).

Buyer - primary responsibility is obtaining the highest quality goods and services at the lowest cost. This usually requires research, writing requests for bids, proposals or quotes, and evaluating all information received.

• Frugaleur - primary responsibility is obtaining the highest quality goods and services at the lowest cost. This usually requires research, visiting suppliers, writing requests for bids, proposals or quotes, joining trading groups like LETS and evaluating all information received.

Analyst - an individual for whom the primary function is a deep examination of a specific, limited area such as finance. Analysts normally use spread sheets and accumulated data to arrive at their final conclusions. e.g. budget analyst.

• Frugaleur - an individual for whom the primary function is a deep examination of a specific, limited area such as finance. Frugaleurs normally use spread sheets and accumulated data to arrive at their final conclusions. e.g. budget analyst.

Auditor - carries out an evaluation of a person, organisation, system, process, enterprise, project or product. The term most commonly refers to accounting, but similar concepts also exist in project management, quality management, and energy conservation.

• Frugaleur - carries out an evaluation of the entire frugal living and working project. The term most commonly refers to accounting, but also project management, quality management and energy conservation within the frugal household.

Chief Executive, director, administrator, secretary, dietician, chef, housekeeper, cleaner, gardener, interior designer, decorator, caretaker, sales and marketing, advertising, public relations experts... look up the definitions of any, or all, of these terms and you'll find something relevant to the job of running a frugal household while establishing a business. There are many more and we need to harness some skills relevant to so many of them - don't let anyone fool you into thinking that you're a jack of all trades and master of none because you are the master of your own destination!

It doesn't cost much to become a frugaleur, just as it doesn't cost much to maintain debt freedom while living within your means, but it does take hard work, determination to succeed and a steadfast will to summon your own self-motivation every day while doing whatever it takes to generate sufficient income. By all means, be inspired by anything or anyone around you, but don't waste your time, money or energy on anything that won't contribute to your overall success.

NYK Media.

Business Basics for the Frugal Entrepreneur

Having cleared all debts and decided that '9 to 5' isn't the life for you, it's time to take stock of what is available and how financial security could be established from that.

You want to be a frugal entrepreneur, so you literally want money to grow on trees. But first, you must plant your acorn, that little seed of an idea from which greatness can grow.

Feel free to discuss any aspects of starting your business from scratch. Mine is starting from a virtual standstill after following a frugal lifestyle challenge for several years. I now know how little it costs to live and how often money is wasted for a quick fix.

Never forget that trading is trading, be it with cash or without; the ultimate aim is to make a gain in your own favour.

Have a think about what you most like doing, have a look around you and see what enterprising opportunities are hiding in and around your own home, then start processing all that new data. The old addage that you need to speculate to accumulate still holds true, only we're speculative investors in our own time and lifestyles.

What's needed?

The preliminary idea, no matter how far fetched it may seem
The will to try, try and try again without incurring debt
An end product or service worth something to others
A business plan to show it can all work
A bank account
Register self employed with HMRC
National Insurance contributions (for your state pension)
A sales strategy
Free advertising, marketing & promotions
Customers or clients
As much help and support as you can muster

Ideally, the products and services you will offer will be things you love making or doing. Work isn't work if you enjoy it, it's a way of life, not just a means to an end. If it makes you rich, in whatever meaning of the word you choose, then that is better still.

Join us in the free forums to discuss frugal entrepreneurial ideas.

NYK Media
www.scottishmultimedia.co.uk