Angels Den Blog

Seed money for old money – could antiques be the key to a recession-busting business?

2009-11-10T12:02:00.002Z

If you’re looking for a recession-proof business to get into, your luck could apparently be in. Despite the fact that many people are cutting their spending back to the absolute essentials, The Royal Institute of Chartered Surveyors (RICS) has reported, surprisingly, that the art and antiques market is not only surviving the recession but is even turning the downturn to its advantage. So if you have a little seed money to invest and a passion for antiquities then read on.

RICS’ figures show that prices in the antiques and art market rose 70 per cent during the third quarter of this year, although buyers are going for traditional items such as watercolours, oils, jewellery and silverware, rather than contemporary pieces. RICS predicts that demand for art and antiques will continue to grow. Traditionally seed money in the antiques and art market would not go far, but with these substantial price hikes you will need even more informed decisions to make such a business feasible.

So why then, when so many people are so hard up at the moment, are the prices of luxury items like these rising? According to RICS, due to the volatility of the stock market, falling property prices, and the current low low interest on savings, many of those who do have seed money to invest are doing so in ways they consider either to be more stable or more profitable than having it languish in their bank accounts.

So far, so promising, but is art and antique dealing really a viable business opportunity?
For many people, understandably, the idea of dealing in this market is quite a romantic one – it has an appealing image of sophistication and profitability. However, before you start downloading back episodes of Cash in the Attic and looking for relics to flog, the practicalities of becoming an arts and antiques dealer are well worth considering.

Firstly, the financial outlay for this kind of business is significant. For every lucky person that invests their hard-earned seed money in a genuinely valuable item up for far less than its worth, there are thousands of others paying the going rate. And, as we’ve heard, that rate is going up. Antique and art dealers don’t shift units at the rate of Primark either ¬ you could wait months, even years, before you see a return on your investment and find a suitable buyer.

Antique and art dealing is also very time-consuming. It can take quite a while to search for just the right pieces, researching their value and attending auctions and markets. According to the British Antique Dealers’ Association, genuinely valuable antiques are unsurprisingly becoming harder to find.

Also, how’s your knowledge of art history? Would you know an antique china teapot from a piece of charity shop tat? Successful art and antique dealers must be experts in their field and know what pieces to buy, where from and what they’re worth. Such knowledge usually takes years of experience and learning to amass.

Although the market for antiques and art does, it seems, look set to be a growth area, realistically it’s only likely to be a minority who can take advantage of it as a business opportunity: those who have the time, the seed money and a wealth of knowledge on the subject. If that does sound like you, check out trade associations such as the Association of Arts and Antique Dealers and the British Antique Dealers’ Association for tips on how to get started. The rest of us will just have to make do with The Antiques Roadshow reruns for

Where Angels Dare To Tread

2009-11-09T13:22:00.000Z

Business angels are calculated risk takers, intelligent investors and venture financiers who offer hope to businesses up and down the land. And for their contribution to the success of countless new businesses, we believe they should be more publically thanked. So stop a business angel in the street today, shake their hand and give them a pat on the back for a job well done.

These investment mavericks know no fear; when funding a new business in these uncertain times, business angels need to use all their accumulated acumen to select the right opportunities or run the risk of losing the funds invested from their own pockets. In this day and age it is a task fraught with far more snakes than ladders.

Often having achieved substantial success in their own commercial lives, business angels have decided to devote their time to helping others to succeed in theirs. By funding a new business or two, or more, they help keep the British economy alive. When the banking sector was in good health it would have been rare to have heard the exploits of such individuals, but since the virtual collapse of the traditional business investment sector, business angels have been growing in both number and importance.

Even in a recession businesses are launching, growing and developing new products and services, all of which require investment capital to succeed. By funding a new business an angel will be providing a much needed boost to the prospects of that venture, employment for its workforce and trade with all the companies in its supply and distribution chains. In funding a new business, business angels are doing their bit to help us out of recession and giving new ventures life where there otherwise would have been only despair.

Business angels are often feared to be much like their pantomime caricatures on a popular BBC2 show (off the air at the moment, but no doubt being repeated on a secondary channel near you). Portrayed revelling in the terror they instil in those in front of them, whilst funding a new business often seems to take a backseat to entertainment value and television ratings. Real business angels are not like this at all. Their aim is to fund a new business that both needs the help and can achieve great things with the injection of capital. To be able to draw out the information they need from the entrepreneur pitching to them, business angels know that they need to gain their confidence. Success will mean immense financial rewards for everyone, as this would be realised by a business going public within a few years after a meteoric rise, but failure will mean never seeing the funds again.

To those who are funding a new business right now, or intending to do so in the near future, we salute you. The British economy is richer for your assistance and by picking up the slack left by the failing banking sector you have slowed our economic descent and prepared us for a brighter financial future.

Thank a business angel, hug a business angel, shelter a business angel under your umbrella in the rain. Do something today to give a little back to those who help our businesses to succeed.

The Political Side Of Funding A Start Up

2009-11-03T11:57:00.002Z

Last month, at the Conservative Party Conference in Manchester, David Cameron set out his perspective on the British entrepreneur. He said that they were the party to, “release Britain’s potential”. A little pretentious perhaps, but could he be right? Anyone looking into ways of funding a start up will certainly be more than a little intrigued to see what the Tories have to offer compared to the other parties..

Funding a start up yourself is out of the question for most people these days. Gone are the times when you could leverage the ever-increasing value of your home to find the money, or to sell that investment property in Dubai. And rather than getting record payouts from the shares you own in the company you work for, you’re far more likely these days to find yourself sitting on worthless stock or indeed be out of a job.

David Cameron suggested that the way the Labour Government has treated the entrepreneur is fundamentally flawed. The collapse of the banking sector, leading to difficulties funding a start up were just the beginning of the problems argued the Tory leader. Unfavourable taxation, complex legal procedures and little help from Brown’s Government have only exacerbated the difficulties. But is this administration solely to blame for the current economic climate or simply easy prey for an opposition who’s own promises have yet to be tested?

Well, my attempts to get a comment from Lord Mandelson on the Conservative leader’s speech have been unsuccessful (shame, I wanted to ask him why funding a start up was still so tough after all the billions they’ve wasted in on the banking sector recently). So instead I logged onto the Labour Party website to gain a sense on what he might have said. This should be THE place for our Government to be setting out its stand, but I was disappointed to find no evidence that new business assistance was close to the top of Number 10’s agenda. Yes, they do focus on the essentials of keeping people in their homes, reducing fuel bills for the elderly and helping struggling businesses. But it’s bland stuff, as though they are resigned to fire fighting rather than taking the bull by its horns and pushing for a way forward.

Now don’t get me wrong, I’m not showing political leaning in any way, but from a technical perfective the Conservative Party website in contrast is a homage to modern web design (in my humble opinion), clean, clear and with lots of information on how they would help new businesses once in power. If I was going to be funding a start up personally in the near future I’d certainly be more than a little intrigued by this difference between the parties.

However, how much of what is said here is new, how much is actually different from what the Labour Party promise and how much is financially feasible in the current economic climate? It’s easy to promise tax cuts when you’re in opposition, but when the wider ramifications of this short-term point winning practice are discovered, such policies tend to be swept under the proverbial carpet. I look at most political promises with a certain amount of scepticism, ¬hell I look at anything a politician says with a hefty dollop of disbelief, but it is for you to decide whether what David Cameron offers is in fact better for small businesses. Maybe it is, or maybe it’s just good marketing with little real substance.

If I were funding a start up personally I’d want to see a little more than just words and a lot more action from whichever party is in power. After all, supporting our new businesses is the only real solution to ending the recession blues.

Credit: Photo © Essential Lighting

7 tips for online reputation management

2009-10-19T09:37:00.002+01:00

Your company’s reputation is a fragile thing, especially when you’re seeking angel finance. It can take a lifetime to build and a moment to destroy – just ask Gerald Ratner! Speak to anyone about this jewellery mogul, and the first thing they’ll remember is the speech that destroyed his career. Two last-minute joke entries to his speech in front of 5,000 members of the Institute of Directors, and seven years of success and achievement that saw his family’s loss-making business rocket to become the world’s biggest jeweller were at an end.

‘Reputation’ opens doors, it builds brands and it creates business success stories, so if your business is at a stage where it is seeking the assistance of angel finance, your reputation and that of your business needs to be whiter than white. People have a strange habit of remembering the bad and glossing over the good, so if your reputation is tarnished in any way through word or deed, it can have a direct and severe effect on your bottom line well into the future.

As well as being the year of Ratner’s ill-fated speech, 1991 was also the year that the World Wide Web was launched, the browser-accessed system that has revolutionised the way we interact with one another. Today we live much of our lives in front of computers, and business without the Internet seems unimaginable for many of us. But with the elegant simplicity of this global communication tool comes the threat of online reputation issues that need to be managed if your business is ever to achieve the angel finance it needs.

Small to medium-sized businesses are still growing, despite the recession. There are plenty out there that buck the trend and strive to do better and think bigger, but with the banking system in disarray they are turning to angel finance to fund their expansion plans. Those offering angel finance will want to see a well-run business with prospects, and your reputation is something they will be very interested in. With the advent of the Web it has become easier than ever for an employee, shareholder, competitor or disgruntled individual to sully your good name and threaten your angel finance options, so you need a strategy to maintain your online persona.

We’ve come up with a seven-step strategy, in basic terms, to handle such a situation:

Stay calm – A bit like the message on the cover of Douglas Adams’s creation The Hitchhiker’s Guide to the Galaxy, which stated in big friendly letters the helpful advice “Don’t Panic!”, your first reaction to an attack on your online reputation should be to stay calm. How you react in difficult situations is something that investors and those offering angel finance will look at closely. So the last thing you want to do is to go off half-cocked.
Establish the motive of the perpetrator – What was said, why did they say it, was there any truth to it, etc.? As Sun Tzu said, “Know your enemy.” It is essential that you gather as much information on the person, people or organisation that have attacked your company and discover the story behind the situation, as this may help in resolving the matter. It is a dirty tactic but not unheard-of that a competitor aware of your interest in expansion through angel finance could attempt to thwart you by attacking your online reputation.
Discover the extent of the problem – How far has the news spread and what is the public opinion of the impact this will have on your business, i.e. do people believe it, and what is the projected effect on your business profits? If you heard that someone said something in a blog that had 100 visitors a year you might have less cause to worry than if the website of a national newspaper took up the story and syndicated it to many others.
Assess the opportunity for spin – Not all bad news has to be bad for a company. There is often a way of turning it around into a positive that can boost your reputation.
Decide whether an official response is warranted – Not every bit of bad news necessitates a response. Sometimes to respond can inflame a reaction that far outreaches any damage the original story could have caused, and at other times it can validate news that otherwise would have disappeared without a trace.
Back up your position – If you are going down the route of an official response, you need a watertight argument backed up by facts and figures, testimonials and expert evidence. The research you did into the whys and wherefores before you reacted can now pay dividends if you are looking to minimise the impact on your business or crush the credibility of a story.
Back to business as usual – The longer you let something like this affect your business, the more successful the perpetrator has been. It is therefore vitally important to put this all behind you as quickly as possible and get back to business as usual.

Angel finance is difficult enough to achieve under normal circumstances, but when your reputation is under attack angel finance can be next to impossible to find unless you can stamp the attack out quickly and prove that you have minimised any impact on your company’s profits.

Follow these few steps and you’ll be far better prepared to weather the reputation storm.

Angels Den's Bill Morrow On Working Lunch

2009-10-14T15:36:00.002+01:00

If any of you missed our Co-Founder Bill Morrow on the BBC's Working Lunch last week, we've added the clip to YouTube:

A Heavily Ddiscounted Rate for SpeedFunding Monday 19th October

2009-10-13T15:27:00.003+01:00

Only 6 days till SpeedFunding!

Not yet attracted that much needed funding this autumn? Then why not join us next Monday 19th October at the next of our hugely successful SpeedFunding sessions in Central London from 3pm.

You'll be introduced to a room full of serious Business Investors all ready and waiting with cash in hand, there just to hear your pitch. We'll even coach you on how to get them to invest in YOUR business before you pitch, and the rest is up to you.

The atmosphere at the last session was so electric that many of our Entrepreneurs went away with more than a handful of interested Angels. Only one business had no Angels interested, the average was 3.5 and the record for the night was 8 Angels. As you can imagine their feet have not touched the ground since!

And, should you need any further persuasion, then here it is: Until the 31st October you can enjoy the full complement of Angels Den services (including Business Summary, full Business Plan with 30 minute telephone consultation thrown in, an afternoon's pitch training, plus a place at a SpeedFunding Event of your choice) for the heavily discounted rate of just £649.00 + VAT. Remember, we spend this fee on coaching you through your business and training you to get ready to pitch and we only make a profit when you are successful in getting funding.

These Events are fast, furious and fun and not to be missed for anyone serious about getting Funding, and are always a sell-out so you'll need to be quick to secure your place in the spotlight! Click HERE now for further details and to reserve a place.

We already have over 20 Angels signed up and ready to meet you - some of them London Business Angels.

Recent SpeedFunding Event Photos

2009-10-13T12:01:00.002+01:00

For those of you who are yet to visit a SpeedFunding event, here's some photos to help you get a feel for what you can expect. For a full list of the latest events, click here.

What a Fantastic night for Funding last night was.........

2009-10-06T16:55:00.002+01:00

Yes, our SpeedFunding Event was definitely the place to be to get your business funded last night.

A group of Serious Business Investors, coupled with an amazing venue and atmosphere proved to be a winning combination for our pitching Entrepreneurs.

With one lucky business getting as many as 8 interested Angels and yet another business with a total of 7 who want to invest and a further 3 who could help, this truly was a hugely successful evening all round.

To ensure you don't miss out on a chance to join them next time, and to satisfy the needs of our 'hungry for more' Business Angels we are now running 2 SpeedFunding Events every month. The next scheduled date is Monday 19th October so make sure you are part of it by clicking HERE right now for further details and to reserve a place. We have a special offer for October only that the full Angels Den service is just £649 + VAT, so that's even more reason to get cracking.

And, whilst you are doing that, why not take the opportunity to enjoy some FREE advice courtesy of the Angels Den team too?

We would be delighted to meet you next Wednesday, 14th October 2009 during working hours at our Free Consultancy Session, to talk about anything and everything to do with getting your business funded, writing a business plan, or indeed anything else - as long as it is vaguely relevant.

Please click HERE now to book yourself a FREE half hour slot. Please note that we are always heavily over subscribed for these sessions so you will need to be super quick to secure a slot.

So come on, what have you got to lose? Join us and take this giant step towards getting your Business Idea funded.

The 11 Rules Of Effective Online Reputation Management

2009-10-01T12:57:00.004+01:00

At times we all have competitors try and discredit you or our business. In fact, I'm sure we can all come up with an personal experience in which we wish we responded differently. If you dare stick your head above the parapet of life some will try and take pot shots at you. If you can associate with this, then here are some tips to manage your reputation online:

Stay calm;
See the attempts for what they are and what they're not:

They're not an altruistic attempt to improve the industry;
Self-satisfying attempts to gain more business;

Establish what the messenger and the medium wish to gain from discrediting you;

Sometimes the the messenger and the media are in cahoots so try and establish who's the puppet and who's the puppet master,

Gauge the active audience numbers, not just the "we've got x number of followers or visitors"
Understand that sometimes bad news is good news. Perceived negative exposure can actually have unexpected positive effects.
Understand that they see you as a threat. You're obviously doing something right!
Decide if the discrediting actually warrants a response. Many are childish playground rants that don't require your involvement.
If you do decide to respond, make it factual, concise, precise and don't tarnish your brand by entering into a slanging match - that's often what they want you to do - that and try and trip you up.
Ensure that you have testimonials and case studies to back up the worth of your offering.
Don't loose focus on what you're actually there to do - grow your business. Reputation management is important, but ensure you actually have a product or service that is worth talking positively about.
Enjoy it. Challenges like these are why many of us are in business.

Come And Join Us For a Coffee And A Chat

2009-09-25T08:14:00.002+01:00

Angels Den are longing to meet you next Wednesday (30th September)

So much so, that we'll even foot the bill. You can't say fairer than that!

Next Wednesday, 30th September 2009, Bill Morrow and Lois Cook - the Angels Den founders - and Damian Davis are delighted to invite you to meet with them during working hours at our Free Consultancy Session, to talk about anything and everything to do with getting your business funded, writing a business plan, or indeed anything else - as long as it is vaguely relevant.

So, come and get a very warm welcome as well as some invaluable and FREE advice on how to get your business funded!

Please email juliet@angelsden.co.uk or just reply to this email by 5.00pm tomorrow Friday 25th September, to book yourself a half hour slot now. On the email, please let us know the following:

Your name
Your business name
One sentence to sum up your business
One sentence to say roughly what you'd like to talk about
Please note that we are always heavily over subscribed for these sessions so you will need to be super quick to secure a slot.

So come on Lee, what have you got to lose? Join us and take this giant step towards getting your Business Idea funded!

We are waiting to meet you.

The Angels Den Team

P.S. Whilst on the subject of getting funded, why not reserve yourself a slot at our next SpeedFunding Event on 5th October too, click HERE now for further details on timings etc.

Where The High Rollers Roll To

2009-09-15T11:01:00.000+01:00

Imagine yourself whiling away an afternoon strolling along the pristine white sands of your own personal beach on your very own private island, travelling around the world in a private jet or exploring the farthest reaches of the earth on luxury, guided adventures. Whether your ideal holiday is an African safari or a relaxing retreat on the French Riviera, reaching your goal of being successful in business can open the door to a life of luxury and leisure among the rich and famous in their favourite holiday haunts or where you can live it up in style.

Working hard to make your business venture a success can provide you with the financial status you’ll need to enjoy life like some of the UK’s wealthiest entrepreneurs.

Simon Nixon, founder of the Moneysupermarket Group and worth an estimated £363m, has been very successful in business and loves to travel so much that one of his latest ventures is a travel guide website. Although this uber-successful entrepreneur enjoys his luxury holidays in Barbados, he doesn’t have to stray too far from the office to holiday at his beachfront villa in Abersoch, where he can indulge his passion for waterskiing.

David and Simon Reuben, founders of Reuben Brothers and worth around £4.3bn, have obviously also been incredibly successful in business. They have been so successful that Simon now lives full time in the wealthy playground of Monaco – where he just might run into British billionaires Philip and Cristina Green, or any of the other successful expats who have chosen to establish a home away from home in this luxurious little tax haven – and David has residences in London, Florida and, yes, Monaco. It certainly seems as though the majority of UK residents who have been successful in business tend to flock to this tiny French-speaking country, but who could blame them?

If you would prefer to catch a glimpse of where billionaires across the pond run off to when they go on holiday, your perfect break might be a restful respite on exclusive Mustique island in the southern caribbean. Of course, you might have to buddy up with American billionaires Bill and Melinda Gates, who have been undeniably successful in business, to gain access to this ultra-private tropical getaway that boasts breathtaking natural beauty, cooling trade winds, lush landscapes and exquisite beaches.

We have heard it said before that the world is the playground of the rich and famous, and this is certainly true. Wealthy travellers can be spotted in such hotspots as Ibiza and Barbados, as well as less obvious destinations in Polynesia, Asia, South America and all across Europe. But whether they are sailing off into the sunset on a luxury super yacht or heading for the tropics to escape the dreary UK weather, those who have been successful in business really can go wherever their hearts and their money take them.

Whether you have your eye on exotic travel or simply on living every day in luxury, you can make these dreams reality by never losing sight of your goal to be successful in business. Dreaming of a comfortable lifestyle that includes holidaying on private islands and spending time at luxurious destinations can be a pretty effective motivator to encourage you to get out of bed each morning and face every day with commitment and tenacity – traits that are commonly found among those who are successful in business.

By pushing yourself a bit further each day, you too can achieve the lifestyle of the rich and famous. Becoming successful in business is not something that happens overnight. Building a business empire takes time and a lot of hard work, but if you begin now you may be able to sail off into that proverbial sunset on your own super yacht one day.

Finding The Best Freelancers For Your Business

2009-09-11T10:50:00.002+01:00

Any successful small business is bound to outgrow the capacity of its existing team at some point, particularly if that team comprises solely the business owner. When this time comes, you must determine the most feasible options for expanding your capacity in a manner that will allow for continued growth and will not prove detrimental to the financial health and reputation of your business. Essentially this decision will come down to two options: employees or freelancers.

Opting to outsource, rather than to hire staff, is a cost-effective decision that can save you both time and money, while also allowing you to avoid the paperwork, tax and legal obligations that are part of taking on an employee. Employers have a legal obligation to offer employees holiday pay, maternity leave and other rights mandated under employment laws. While these employee rights are certainly appropriate business practice, small ventures do not always have the resources to support such an arrangement. Establishing relationships with a number of experienced freelancers can provide you with a fully flexible workforce without the ties and costs of an employee so you can focus on growing your business and developing your business ideas.

Working with freelancers has many more advantages.

An employee will expect to be paid at the same time each month whether you have used their services or not. A freelancer is of course only paid for the work that they do, so there are certainly circumstances where a freelancer would be more cost effective.
Using freelancers allows you the flexibility to upsize or downsize your workforce as and when you wish. This affords you a very agile business that can adapt to its workload and changes in the direction of your business ideas.
If your business ideas necessitate new skills not present in your organisation, you won’t need to spend time and money training your staff: simply find a freelancer who already has the skills.
As freelancers are more like consultants than subordinates and are often very skilled in their fields, they may also be able to provide you with opinions and insights on your business and business ideas, though you may wish them to sign a confidentiality agreement before you go giving away all of your business ideas.

However, before you dive headlong into the freelance market to find the perfect person to take your work and assist you in expanding on your business ideas, there are also a few disadvantages to consider.

A freelancer, by their very nature, may not always be available when you need them because they will not be working solely for you. This can be a particular hindrance if you have business ideas in development or a client that needs attention and the freelancer’s availability necessitates pushing back your deadlines.
Another point to consider is the rather singular motivation to do a good job – money. Of course there are freelancers out there who do the job simply because they love it, but typical employee motivators like pay rises, promotions or the chance to take on greater responsibility are not open to freelancers, so they simply do the job they are paid for. This can result in reduced creativity or dedication, and in some cases quality.
Related to the last point, it may well be difficult to ensure consistency or quality when using different freelancers, or even the same freelancer over a period of time.

Fortunately there are good freelancers out there who could negate these issues, believe in your business ideas and are self-motivated professionals with whom you can build the foundation for an ongoing relationship. Here are three essential steps that will assist you in finding the right freelancers to suit your needs:

Create a thorough job brief – Outline exactly what you are looking for in a freelancer prior to your search. Consider which skills and what experience are most important to you and note which areas, if any, you are willing to be flexible on. This document can then be used for you to impersonally select the best freelancer for the job, and for them to understand what is expected.
Interview potentials – They may only be your outsourced resources, but you will rely on them for their dedication to the timely completion and quality of your work, so they actually hold a very important role in your business. Interview them in much the same way that you would interview a potential employee (not face to face, but through emails or over the phone) to discover their strengths and weaknesses and their true experience, and to get a feel for whether you can trust them with the responsibility of looking after your work.
Start with a trial assignment – Before you hand over too much responsibility, give an untried freelancer a small assignment to ensure that they are a good fit for your company, your business ideas and ideals. How they do on this assessment should determine whether you stick with them or continue your search.

Expanding your business and having the time and resources to develop your business ideas is essential to your success. By following these few tips to find the right freelancers for your company, you will be able to acquire the additional assistance you need without the expenses and obligations that come with hiring employees.

An injection of new skills to expand upon your business ideas and plans with minimal responsibilities and commitment on your side: what could be better for a small venture looking to find its feet in the business world?

Download the Powerpoint presentation

Photo: (c) Joce01_y

Starting A Recession Busting Business

2009-09-08T10:37:00.003+01:00

Now I’m not saying that I’m a V Festival regular, but then again I’m also not a fan of slippers and The Archers as yet, so you’ll understand when I say that BBC Radio 4 is not one of my regular entertainment channels. However, this week I noticed that it was running the first episode of a new show called A Small Business, about recession busting businesses – those who launch in the midst of this recession despite the gloomy outlook. So I thought it was worth foraging north of the intellectual border just this once to see whether it was worthy of a listen, and I have to say that I was pleasantly surprised.

The presenter, Liz Barclay, portrayed a “follow your business dreams and damn the recession” attitude (in a Radio 4 reserved tone, of course), which I can seriously respect, and the recession busting business case studies she shared with us all mirrored this – though some could owe their success more to luck than judgement, as planning and research seem to have been low on their agendas when launching their businesses.

Some of the interesting statistics to come out of the programme were that out of 4.7 million businesses in the UK, only 6,000 (or 0.13%) have more than 250 staff; the rest are classified as SMEs or sole traders. So if you’re starting a small business, you’re already in the majority. SMEs provide around 60% of employment and just over 50% of the turnover of all businesses in the UK, so they are a massive contributor to the economy as well. This is why there is so much interest in what makes a recession busting business.

The bad news is that we are losing around 700 SMEs a week as they find they cannot make ends meet or close their doors for other reasons. The good news is that the recession has in no way dampened our dogged determination to succeed because for every one of those SMEs that fail, 11 new ones rise up. The unwillingness to be put off by economic indicators that has fuelled these recession busting businesses was the focus of the programme, and quite frankly should be applauded.

The general feeling is that recessions are great for two things:

Businesses that are focused on inexpensively making you feel better at the end of the week, e.g. make-up, beer, clothing and anything that is relatively cheap but makes you feel good about yourself even in the darkest of times. We all need something to bring a little sunshine into our lives, and the more difficult the environment in which we live, the more we cry out for some way to lighten the atmosphere a little.
Trialling a new business or business idea. With everyone feeling the pinch, excellent deals can be had in all areas such as office space, suppliers and advice to keep start-up costs low, and because nobody expects you to make massive profits in a recession you can start small and test the market. Once you have found a plan that works, you’ll be in an excellent position to exploit it when the recession breaks.

Recession busting businesses don’t need to be making massive profits. They simply need to defy the odds by surviving and thriving through to more economically stable times. In fact one of the reasons the show cited for the continued volume of start-ups launching in the UK was that, in a time when so many are losing their jobs, surviving on lower salaries and generally having a miserable time of it, starting something small yourself, where your customers express their satisfaction to you personally, is an ego boost that money simply can’t buy.

The show also pointed out that this economic climate has fostered a very different type of small business owner. We are now far more risk averse in the way we launch our businesses. With the news images of redundant bankers leaving their once-lucrative jobs with little more than a box of desk items and headlines about financial institutions that collapsed still fresh in their minds, small business owners would be more reluctant to seek out funding to start their ventures, even if the banks were lending. This actually puts them in a better position to survive the recession than those in previous financially tough times. More often than not, the recession busting business of today is one that has been started on a shoestring.

Despite my initial reservations, this episode on what makes a recession busting business was quite good, and I can’t wait for the same time next week (Tuesday 4pm on BBC Radio 4).

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View this post as a Power Point Presentation: Starting A Recession-Busting Business.

Pitch to investors of billions and gain exposure at World Travel Market

2009-09-05T17:17:00.002+01:00

Do you want to meet entrepreneurs worth millions, investors of billions and gain exposure at the travel industry's largest event?

The Get Funded Show@World Travel Market, organised by EyeforTravel, is a high-profile platform where the innovators of the industry will present the ideas that will shape the future of travel. The unique event will catapult savvy start-ups into the limelight at the world's premier travel event.

24 OF THE MOST INNOVATIVE TRAVEL COMPANIES - ARE YOU ONE OF THEM!

Leveraging the combined marketing might of EyeforTravel, World Travel Market, TravelMole, TravelDailyNews, eTravelBlackboard and Angels Den, The Get Funded Show offers unsurpassed exposure to over half a million travel professionals and the ultimate visibility for ambitious entrepreneurs.

If you'd like the chance to get your business funded at the Get Funded show on 11 and 12 November, please email me ASAP on juliet@angelsden.co.uk. You just need to make sure you have signed up to our Terms and Conditions here.

'The Get Funded Show was an extremely valuable opportunity for our business to be critiqued by some of the best entrepreneurs in the business, to gain exposure in front of an audience of travel experts and to open new doors for future investment and partnerships. We would recommend the experience to any promising travel start-ups looking for a leg up in the industry.'

Rachel Armitage, Co-Founder, Zoombu - 2009 Winner

On the 11th and 12th November, at London's ExCeL, 24 entrepreneurs will gather to pitch their innovations to our Travel Gurus and Investors. Our Travel Gurus include travel industry veterans and the people behind some of the most successful exits in travel.

The Travel Gurus include such industry experts as: -

Andy Phillipps, co-Founder, Active Hotels
Hugo Burge, Executive Chairman, Cheapflights and Founder, Howzat Media
Steve Endacott, Owner and CEO, On Holiday Group
John Kent, Founder and CEO of youtravel.com and the founder of Aquis Hotels and Resorts
Roger Allard, Owner, All Leisure Group
Peter Waller, Group Mergers and Acquisitions Director, Thomas Cook
Paul Evans, Founder and Chief Executive, Low Cost Holiday Group
Faisal Galaria, ex-Managing Director, Kayak Europe & Angel Investor
Dinesh Dhamija, Founder, eBookers
Cree Lawson, Founder and CEO, Travel Ad Network
Glenn Fogel, EVP Corporate Development, Priceline
Dhruv Shringi, Founder, Yatra
David Scowsill, Chairman, YuuGuu.com
Jeff Wasson, Founder, TravelNow.com
Deirdre Bounds, Founder, i-to-i
Patrick Hoffstetter, Managing Director UK, lastminute.com

All have redefined the travel industry in the past and now enthusiastically look for the people who can replicate their success. Each one of our 24 companies will be assigned a mentor leading up to the show. This one-to-one time with top level investors and travel experts is immensely valuable and not available at any other event!

'We achieved more in one day at The Get Funded Show than we did in the previous six months of contacting travel investors on our own. Our mentor offered invaluable feedback on our business model, the kind of insights that can only come from having been down the same path we are on now. It is well worth the investment.'

Jared Salter, Co-Founder, Joobili.com - Finalist 2009

Our Travel Gurus will be joined on the panel by our Investors - angels and VCs actively targeting the travel sector.

And here's a few of the investors: -

Alex Hoye, CEO, Latitude Group; Advisory Board, Seedcamp and Cambridge Angel
Roberto Bonanzinga, Partner, Balderton Capital
Jason Katz, Founder, KP Capital
Bill Morrow, co-Founder, Angels Den
Debu Purkayastha, Principal - Corporate Development / M&A, Google
Steve Schlenker, Managing Partner, DN Capital
Daniel Smith, Assistant Director, New Investments, ISIS Equity Partners
Nic Brisbourne, Partner, DFJ Esprit
Will Fraser-Allen, Deputy Managing Director, Albion Ventures

ONLY 24 PLACES ARE AVAILABLE TO PITCH TO THESE INVESTORS - MAKE SURE YOU'RE ONE OF THEM!

With so much entrepreneurial flair and investment opportunity in the room the show will be a fertile ground for any start up. Companies will be involved in a publicity campaign that will reach over half a million travel professionals and investors. What's more, our tough vetting procedure guarantees investor interest and will mark our contestants out as top travel investments.

'Being part of the 2008 The Get Funded Show was a significant steeping stone and catalyst. Winning the Show validated our own belief that our product was unique and well placed to become a market leader; The PR and media coverage was more valuable than any PR budget would have generated; And our company benefited from expert advice, not just during the event but in the months and now years following. We would thoroughly recommend The Get Funded Show as a must-attend event for new start ups.'

Adam Twidell, Founder, PrivateFly.com - 2008 Winner

IF YOU'RE AT THE BLEEDING EDGE OF INNOVATION, EMAIL JULIET@ANGELSDEN.CO.UK asap for a chance to get to pitch in November.
Best wishes,

Juliet
Angels Den

Finding your first office

2009-09-04T10:28:00.002+01:00

The time has come for your venture to find a place to grow, to thrive and to prosper. Your small business plans with big business dreams have outgrown your spare room, garden shed, home office or simply your imagination and now need dedicated phone lines, a reception desk and meeting rooms at the very least. So how do you go about finding the perfect first office?

When the time comes to find your first office space, there are several options to choose from. The most common include taking a virtual office, sharing office space with another entrepreneur or company, or taking your own dedicated place of work. Each option comes with its own set of advantages and disadvantages, so you need to decide which one best suits your small business plans.

Does a virtual office fit with your small business plans?
When your small business plans necessitate a more centralised location, somewhere to meet clients and an element of prestige, a virtual office may well be the solution for you. For a monthly fee you can register your business address there, have your post collected and forwarded to you, have your phone answered by a reception team and messages taken for you, use meeting rooms, and even use office space when you are in the area. It is an office away from your home office that you can have occasional access to, as and when you need it. Of course the restrictions of this option are that you do not actually have an office to call your own, you have nowhere to put employees if you are looking to expand, and you can only use the office space on a hot desk basis.

Does an office share fit with your small business plans?
Sharing an office with someone else is an excellent way to obtain the space you need while experiencing significant savings in comparison to the expense of a private office space. Sharing office space also offers several other distinct advantages, such as the opportunity to share ideas, provide and receive feedback, socialise with like-minded professionals and sharing personnel. While you may not be able to personalise the space to completely meet your exact needs, the cost savings and social exchanges may be well worth that small sacrifice.

If your small business plans could benefit from sharing an office then it is always a good idea to find a business to share with that has a skill or client base complementary to yours – for example, a web developer and an SEO specialist, a plumber and a carpenter.

Does a private office suit your small business plan?
Of course, most entrepreneurs dream of growing to the point of needing their own private office space to run their small business, and there are plenty of excellent reasons to aspire to this. Having your own office allows you to focus on your work with limited interruptions, customise the space to fit your exact needs, create a comfortable, personalised working environment, avoid the negotiations that may be necessary when sharing a space or hotdesking, and rest assured that your belongings, documents and important information are as secure as possible without the risk of their being tampered with or misplaced by someone with whom you are sharing an office.

So what is most important to your business? Image, cost savings, security or flexibility? Answering this question will certainly put you on the road to deciding which is the best office solution to take your small business plans and transform them into your big business reality.

Once you have made your decision, there are plenty of online and offline resources at your disposal to find just the right space for your business. Choose from online and offline commercial estate agents and office space websites that pull together information from multiple sources.

Good luck in your search.

Calling all our Social Enterprise Entrepreneurs..........

2009-08-21T11:42:00.001+01:00

Do you fit the bill? Well, if you have a bold and brilliant Business Idea or project that makes social change or furthers social and environmental goals AND can make a profit at the same time then we want to hear from you right now!

Angels Den are absolutely delighted to announce that we have received a very generous offer from a very generous charitable organisation, and now have access to an Investment pot of over £1million exclusively for the best and brightest Social Entrepreneurs currently seeking a helping hand up that success ladder.

If you feel your business meets the criteria above and would like to register your interest in being part of this then simply send an email to juliet@angelsden.co.uk detailing the following:-

Your name
Your business name
A short paragraph to sum up your business and why you believe yours should be selected
The amount of investment you are looking for

Please note that we will need to have your business plan on our system (£499 + VAT if you've not already submitted your plan to Angels Den), and you'll have had to sign up to our latest terms and conditions. Check here to see if you've signed up to our latest T&Cs.

Once received, we'll collate all the information together and contact you direct over the next few weeks to check that you definitely qualify under the charity's Investment requirements, and then if successful your details will be passed on to them for the next stages.

So, this really could be your luckiest day ever! Get in touch today and take a step closer to getting your Business funded and off the ground!

If words could kill

2009-08-07T11:58:00.000+01:00

Whether it is providing consistent quality of services or products, ensuring consistent customer service or delivering a consistent message as you work to increase brand awareness, consistency is key to small business success. Consistency builds trust, lets your customers know that your firm is reliable and establishes the foundation for your company’s culture and growth.

When it comes to your company’s communications plan, consistency should be a central component and an underlying theme in every contact you have with potential clients and customers. A focused communications plan is essential to your small business success and is the only way to ensure that your target audience is receiving the message that you intend to deliver. Anything less could result in confusion, lost opportunities and, in the worst case scenario, can cost your reputation. Words really can kill.

Every piece of written material gives your target audience important information about your company, regardless of how small and unimportant some methods of communication may seem. Even a one-line email gives off an impression and tells your prospects something about you and the way you do business. Because of this, it is of the utmost importance that great care goes into the creation of every piece of public material that your company produces.

From your website to your brochure and your newsletter to your follow-up emails, it is absolutely essential to your small business success that your company speaks to your audience in a singular, unified voice through every path of communication. One way to look at this is to consider each contact with your potential customers or clients as part of an ongoing conversation. The goal of the conversation is to guide your prospects directly to the task you wish them to undertake, whether that is purchasing your product, signing up for your newsletter, enlisting your services or calling your firm for more information. With your goal in mind, each piece of the conversation must be crafted specifically towards encouraging your prospects down the path to conversion.

Just as no one enjoys a hard-to-follow conversation with an unpredictable individual, an erratic array of voices, information and word choice which differs from one piece of communication to the next will be received by your audience as a cacophonous cluster with no defining theme and no clear, consistent message. This will, of course, cause your prospects to lose interest and will work against your goal of small business success.

The best way to ensure the delivery of a cohesive message and consistent information is to have a single copywriter or copywriting team dedicated to crafting all of your company’s public materials. This is the safest route to ensuring that all the pieces of your ongoing conversation with your target audience fit together in a clear, harmonious manner. It will provide a unified voice for all the methods of communication you use, including your website, business letters, sales emails, newsletters, brochures and promotional materials for exhibition stands.

Whether you hire an in-house wordsmith or outsource your copywriting needs to a professional writer or copywriting firm, building a long-term relationship with a copywriter or team that can provide a unified voice for all your communications is crucial to your small business success. Using a dedicated copywriter not only ensures that your ongoing conversation with prospects is cohesive but it also provides the opportunity for your professional writer to skilfully craft each communication into a call to action opportunity, which will undoubtedly enhance your efforts to achieve small business success.

Optimise your small business success by establishing a focused communications plan and deliver a clear, cohesive message to your target audience. It is well worth the investment of working with a professional copywriter to establish a clear, single voice for your ongoing conversation with potential clients and customers which, unquestionably, is essential to your small business success.

Content versus conversation

2009-08-05T11:51:00.002+01:00

Your customers are the lifeblood of your business. Without them it could not exist, so companies put a lot of effort into building relationships with customers, establishing loyalties and servicing their needs. But how do you find these customers in the first place? What is your business networking strategy?

There was a time when the only way to reach your potential clients was to hit the streets and reel them in one by one or in small groups with face-to-face business networking strategies. While this is time intensive and certainly not the ideal form of marketing for introverts, this tried and true method of business networking is an effective means of forging long-term relationships and creating loyal patrons that bring in additional customers through word of mouth. In-person networking brings a personal touch to your marketing efforts, builds trust and is an ideal way to convince those who are on the fence to hop on down and join the ranks of your devoted customers.

With the advent of the Internet, this type of old-fashioned face-to-face marketing soon began to fall to the wayside as entrepreneurs and long-time business owners discovered new, time-efficient ways to reach a broad audience through online business networking via social networking and search engine optimisation. As social networking sites like MySpace, Facebook and Twitter have gained popularity and established a simple online foundation for mass communication, business networking through these and similar social networking portals has become the marketing strategy of choice for many companies, both large and small.

Partaking in online business networking allows business owners to connect with potential patrons in a convenient, immediate and inexpensive fashion and to cast a wide net in the hope of pulling in several new customers in one fell swoop. While it lacks the personal touch of face-to-face business networking, this marketing strategy has proven effective for new businesses as well as revitalising the outdated strategies of many well-established companies.

With these increasing options, it is natural to begin to wonder which business networking strategy is right for your company. Do you stick with traditional, personal contact to increase the probability that each prospect will become a loyal customer, or do you put your efforts into online business networking in order to significantly increase the number of prospects you can reach at one time?

The answer largely depends on the type of products or services your company provides and the attributes of your target audience. What you say and how you say it is central to your success, so when it comes to how to say it, you must consider the most effective means of communication for the particular prospects you are trying to reach. The lure of the Internet is incredibly enticing and online business networking opportunities are abundant in the modern age of search engine optimisation and social media promotion. In fact, online social networking has become so integrated into our way of life that it practically goes without saying that this will be part of any marketing plan. So much so that entrepreneurs often set up a Facebook account before they open a business bank account.

Both of these business networking strategies provide important benefits, and any entrepreneur will certainly use aspects of each as they work to establish their brand and customer base. No matter how devoted a business owner may be to personal contact, every business needs a website and every website absolutely must be search engine optimised. And, no matter how dedicated to mass online marketing an entrepreneur may be, personal contact will always be the most effective means of creating long-term relationships with clients.

The key to your company’s success is to find the balance that works for you and your target audience. Understanding the needs of your potential customer base will provide the foundation on which to build your marketing strategy, and therein lies the answer to the amount of effort you should put towards each of these effective business networking options.

Small business owners – channel your anger!

2009-08-03T11:46:00.001+01:00

As a small business owner, you’ll know that frustration is part of the everyday life of starting, running and growing a new company. Being an entrepreneur can be stressful, and therefore small business owners need to find some way of either channelling this stress or dispelling it, otherwise the emotions it creates it will eat up your confidence, energy and prospects.

If you have ever suffered stomach cramps in the aftermath of a business meeting, responded to official correspondence with indigestion, experienced insomnia due to worries about turning a profit, or felt tension headaches coming on as soon as the phone starts ringing in the morning, you might be a small business owner who could benefit from channelling your emotions.

This was the basis for some scientific research reported by the BBC recently. As odd as it may sound, researchers discovered that the occasional bout of foul mouth – you know, the words you are not allowed to utter in front of mixed company or your mother – can actually increase a person’s pain threshold. Could this really help with the pain of stress that every small business owner is likely to feel in varying degrees? Try it now with me. Take a deep breath in … and out … in … and out … now all together … @#~$£ *@##~~@ and what’s more ****^@:~# *///*/**//@... Now how do you feel?

Of course, there’s a time and a place for this form of stress relief and no small business owner must be caught swearing in front of their team (unless you have team-building swear-time, much like the traditional Chinese corporate practice of pre-work Tai Chi to centre their employees before the rigours of the day), within earshot of a client (although we’ve all made that mistake just once in our careers) or when you are at home (because work stress should be left at work).

Stress can lead to frustration, frustration can lead to anger and anger can lead you to the dark side! Being known for having an explosive temper in the business community may cause folks to step on eggshells around you, and it may also cost you a significant amount of business. Some discreet defamation, subtle swearing and candid cursing may well save you from this fate if you can expel all of your anger in one short burst.

But be careful – researchers found that overusing the cuss words actually decreases their effectiveness in reducing pain and taking care of stress. So small business owners beware – moderation is key to stress-relief success.

Consider the notion of including a regular regimen of expletives in the privacy of your office, just like you might go to the gym to loosen your muscles. As a matter of fact, the savvy small business owner could actually include a steady stream of swear words into midday exercises – those that take place away from polite company, of course. Consider adding an exercise space that, for lack of a better word, becomes your ‘closet’ in which you may utter the kind of language that would cause you to wash out your child’s mouth at home.

As it is uncertain what the long-term effects of this swearing therapy might be, it’s probably a good idea to keep an eye on your attitudes and stress levels. If you find that you become desensitised to coarse language to the detriment of your personal relationships, you might be one of the small business owners who need to investigate other means of stress relief. In contrast, if you find the whole exercise strangely liberating, this may just be your own personal fountain of renewal where you can let go of the daily frustrations and release them from your mind and heart in a stream of swear words.

The small business owner who holds a deep religious conviction about not letting unwholesome talk cross their lips most likely will not find relief in this way but instead will encounter guilt. This is not the right exercise for you and it might rather be a good idea to either discuss swear therapy with your faith community leader or investigate other more acceptable means of blowing off the kind of steam that can lead to physical ailments in the business community. After all, learning how to channel your anger in a healthy fashion is the best way to ensure that you will not suffer any of those nasty, stress-related, physical side effects that snuff out the fire of so many small business owners before their time.

The Devil’s in the detail

2009-07-31T11:39:00.002+01:00

There is certainly something to be said for those entrepreneurs who fly by the seat of their pants, go on gut instinct and believe in action rather than preparation – of course, the something that I’d say to them is ’What the hell are you doing?’

There are, of course, some who have succeeded in this way, but they will be the exception rather than the rule, as small business planning is essential for any new venture.

Small business planning may very well be one of the most underestimated aspects of starting, running and growing a viable company from the ground up. The facets that comprise sound small business planning are plentiful, but essentially they consist of research, research and more research.

Initially, the research involved in small business planning deals with market trends affecting the business or product. For example, if you are thinking of selling a health-promoting drink based on the latest tasty berry to come out of Brazil, you are sure to face stiff competition because healthy berry drinks are a bandwagon that’s been full to bursting for some time now. On the flipside, green tea, which has effectively been replaced by the berry, no longer has the same level of competition in the field but lacks the boutique appeal to customers who are ever ready to move on to the latest and greatest product.

In this instance, your small business planning will demand that you weigh the advantages and disadvantages of jumping on the bandwagon or the alternative of going with yesterday’s hot business idea. You may find that neither notion is attractive, or perhaps you will choose to diversify and incorporate both lines into your company. In addition to ferreting out all the information you can glean on market saturation, this is the time to hone your potential customer profiles and demographics. With this data you can develop a marketing approach to woo this segment of the population and perhaps even branch out to include those that are – as of yet – under served. Of course, it is virtually impossible to make these decisions without the proper market research.

The next aspect of small business planning that requires meticulous research is the business plan. This is the ‘calling card’ that will introduce you to potential investors, business angels or corporate entities who are intent on investing in a budding new business. At this stage, the research must include well-documented financial forecasts that make the company attractive, show on paper how it is initially viable and how it will grow, and demonstrate that your plan will take the venture in a fiscally sound and successful direction. Potential investors will want to know that they can expect value for money when they invest with you. Most business angels are shrewd, successful business owners themselves whose primary focus is on the profit they will make from investing in your organisation – without accurate and complete financial and market forecasts it would be impossible for them to conclude that your business is worthy of investment.

It is interesting to note that small business planning pertains also to the human side of running a business. Doing all you can to take the unpredictability out of launching and growing your venture increases your potential for success and can seriously reduce your potential for stress. For example, your awareness that long hours are par for the course if you wish to win your financial freedom and a holiday with friends and family on a sunny beach allows you to suffer willingly the rigours for the joy of the rewards. As long as you know the eventualities, you can plan what to do – to either roll with the punches or counteract the more undesirable ones. This is especially true if you have a family that relies on you – at least in part – for their fiscal upkeep.

All in all, sound research is crucial for starting, running and growing any kind of business. Before you even go in search of your first customer, invest ample time, and money if needed, in quality small business planning.

Do you have what it takes to become a successful entrepreneur?

2009-07-29T14:55:00.003+01:00

Becoming the owner of a small business is easy – simply think of a brilliant idea or learn a trade and launch it on the world. However, becoming a successful entrepreneur is a completely different kettle of fish. It requires stamina as well as the willingness and ability to push on through when the going gets tough and, of course, the aptitude for solving problems before they even occur.

What differentiates the successful entrepreneur from the rest of the population is a mystery that has taunted the cleverest minds throughout history. It has thwarted logic and poked the finger of fun at those who would seek the answer... Ok, so this may be going a bit far, but it is an interesting question that we thought should be looked into!

Do you think you have what it takes to become a successful entrepreneur? Do you believe you are born to become a captain of industry? Do you wake up in the morning knowing you were meant for greater things?

Some people graft all their lives and never find their ‘big break’; others enter the world of small business ownership through circumstance rather than by design – perhaps through loss of employment or even through lack of employment opportunities – and some seem to find success effortless when they put their minds to it. But what separates these people? What is it that makes a successful entrepreneur?

Well, we know that to be a successful entrepreneur does not rely on sex, age, race or religion. It has little to do with money or education (in fact, studies have shown that these can sometimes be hindrances), and it is rarely the brilliance and ingenuity of a business idea that creates a successful entrepreneur – indeed, the road to business achievement is littered with fallen ventures that were once fabulous business ideas but just did not have the right leadership.

To discover whether you have the makings of a Branson, a Green or a Sugar we have seven questions for you:

Are you cut out for the stress? Starting your own business can be a stressful undertaking. You need to be mentally and physically up to the task. Every decision rests on your shoulder, every penny needs to be accounted for and the buck stops at your desk.
Can you handle the time commitment? If you believe that owning your own business will give you more time for yourself and your family then think again. Running a business – especially in the early years – is an all-consuming commitment that you and all those around you will have to accept in order for you to become a successful entrepreneur.
Can you live with financial uncertainty? It can take some time for a new business to generate an income. You may begin to long for the days of the regular, predictable salary that your comfortable office job as an employee gave you. Can you and your family survive in the meantime?
Do you have the support of those around you? Your family must be behind you 100 per cent – you must have their unwavering support through the lean times and, further down the line, through the good times. Make sure everyone understands the sacrifices involved at the outset so that there will be no familial discord.
Do you understand your motivation? Successful entrepreneurs are focused individuals. They know where they are headed and how to get there. So before you consider running your own business, know why you’re doing it. Do you want to become a successful entrepreneur in order to spend more time with your young children? Are you spurred on by the lure of success and the opportunity to make something out of nothing? Is it for the fame or the fortune? Know why you are taking this pathway and it will be something to focus on through the tough times.
How hungry for success are you really? Becoming a successful entrepreneur requires commitment, sacrifice and the tenacity to achieve your goals that most people simply do not possess. Are you willing to put in long hours, deny yourself life’s little luxuries and reinvest whatever money you do make into your business so that it succeeds?
How good are you at listening? A successful entrepreneur is someone who listens. You must listen to your market, listen to that little voice inside that guides you, listen to professionals and the media. Of course you also need to know how to discern which information or advice is not beneficial and to grow a thick skin to be able to ignore those doomsayers who would stifle genius.

If you’re single and unemployed with minimal outgoings and some savings then the leap to starting your own business may seem like a small one. But if you have dependants, a salaried job (however much you might dislike it) and financial commitments then starting your own business will be a big leap of faith. A successful entrepreneur lets their self-belief, unwavering zeal and determination loose on a business and commits themselves completely to its success.

Is There a Property Market Recovery?

2009-07-01T10:32:00.001+01:00

As an entrepreneur, you undoubtedly perk up at the suggestion that a property market recovery is right around the bend. You know that the property market has a huge impact on the overall resilience of the economic landscape. If a genuine recovery were to be in the works, consumer behaviour would indubitably change, banks would loosen their grips on the purse strings, cash flow would once again permeate economic enterprises, and business profits could be right around the corner…

But this begs one critical question: is the news of a property market recovery real, or is it merely wishful thinking?

The Truth behind a Property Market Recovery
According to the BBC, a property market recovery is indicated by statistics from the Royal Institute of Chartered Surveyors (RICS) that show a falling number of properties falling number of properties on the market and a rising number of buyers interested in them. Activity is up and supply is down—just the formula needed for a property market recovery.

Another snippet of news reported just a couple of days later indicated that figures from the Council of Mortgage Lenders (CML) showed that the number of mortgages for home purchases has risen.

Of course, the flip side of this is that these numbers are still significantly shy of the figures from just a year ago, and (more importantly) to turn a window shopper into a bona fide buyer, the interested party now needs to come up with 25 per cent of the home’s value as a deposit—a figure that is significantly higher than in previous years.

So is the property market recovery made up of 25 per cent wishful thinking?
At the peak of the market, a buyer could quite easily find a bank willing to lend him or her the money for a home purchase. A deposit of 5 or 10 per cent was all that the buyer needed—and if he or she found this too much to scrape together, then there were always the 100 per cent, 125 per cent, and self-certification mortgages from which to choose. Entrepreneurs in the property refurbishment, renovation, and maintenance sectors enjoyed the boom created (at least partially) by these mortgage products. Of course, some of this lending was wholly irresponsible: a buyer putting him or herself in negative equity from day one in the hope that the market will continue to rise is an accident waiting to happen. Nevertheless, flawed as such mortgages were, they resulted in a run on properties—and more sellers felt that they could actually afford to buy and sell their homes.

It is for this reason that the news of a property market recovery is to be welcomed—albeit with some reluctance. Banks are no longer lending quite as liberally as they used to and only qualified buyers need to apply for loans. What is today being hailed as a property market recovery may truly be little more than savvy investors bankrolling agents to take over soon-to-be-vacant properties. It may also be little more than homeowners who simply cannot afford to hold onto their properties any longer doing their level best to get at least some return on their initial investment. It is highly doubtful—especially in light of last year’s property figures—that a genuine property recovery is in the works that is sustainable beyond the investor purchases and on-edge homeowner sales.

Of course, hope springs eternal and, as an entrepreneur, you know that it doesn’t take a lot to nudge the market one way or another. So perhaps simply the idea that there is some stabilisation—that the market might at least have bottomed out and that a property market recovery was at least on the cards—could generate some upward mobility in sales. If this were to be followed with a genuine effort from the banking sector to produce affordable mortgage products (after all, 25 per cent is a little steep and the first-time buyer really needs a break in the form of a 90 or 95 per cent mortgage), we might at least be able to begin to hope for a long-lasting recovery.

7 Things to Do Before Turning 40

2009-06-29T10:27:00.001+01:00

Have you ever whiled away an afternoon avoiding your daily office tasks, pondering the meaning of life, and daydreaming of all of the things that you’d rather be doing than sitting at that desk? If so, then you’re likely have a list much like this one, prodding you to move forward and accomplish your personal and professional goals while you’re still young enough to enjoy your success.

But if you’ve yet to establish your own list of seven things to do before you turn 40, here are some suggestions.

Surf the big waves off Hawaii – Surfing the peak-season waves off of the northern shore of Oahu in December and Waikiki Beach in July might mean two trips to the islands—but two trips to Hawaii are always better than one.
Visit all Seven Wonders of the World – What better excuse to wander around the world on holiday than to admire each of the Seven Wonders of the World in all of their splendour? Whether you choose to see the seven natural wonders of the world, the sites of the seven wonders of the ancient world, the seven underwater wonders of the world, or the wonder of the No 7 bus to the World’s End pub in Camden is, of course, up to you. Who knows? You might even meet a business Angel along the way who can help you to attain #6 on our list! Stranger things have happened…
Learn a new language – Most of us were required to take a language at school—but imagine becoming truly fluent in a language of your choosing simply for your own personal satisfaction. Knowing at least one additional language might also come in handy when accomplishing #2.
Own a flash sports car – This is something that you really ought to do before you turn 40—partly because when you start having children, a two-seater will be the first thing that you’ll have to get rid of, and partly because the older you get, the more likely you are to be accused of owning one as part of a mid-life crisis.
Invent something that helps mankind – Whether it’s a selfless endeavour to further the advancement of society, or a brilliant money-making creation that just happens to enhance the daily lives of all who own it, inventing an innovative product or gadget just might lead to #6 or #7 on the list—and could certainly to help fund #1–4.
Own your own business – A brilliant idea at any age, owning a business by the age of 40 is an excellent way of removing yourself from the doldrums of working to make someone else rich, and making all of your dreams a reality by becoming your own boss, setting your own schedule, and taking the reins to control your own life. Setting out with an entrepreneurial spirit, the drive to succeed, and perhaps a business Angel or two in tow will undoubtedly lead to accomplishing—and even exceeding—your personal and professional goals.
Become a business angel – Once you’ve become wildly successful from owning your own business and are rapidly working your way through the rest of your list, there’s one more thing that you should do before turning 40. Becoming a business Angel will be perhaps the most rewarding and satisfying accomplishment of your life, because it will show that you’ve truly ‘made it’ and are now in a position to help someone else with the drive, motivation, and tenacious spirit that got you where you are today. Becoming a business Angel should be the ultimate goal of any entrepreneur or business owner who yearns to feel the ultimate sense of accomplishment that comes from supporting a new generation of professionals as they come into their own.

Everything on this list is absolutely attainable by anyone with the vision and drive to achieve their dreams. Anything is possible with hard work, motivation and perseverance, and striving to own a business and become a business angel before turning 40 is a sensible, reachable goal that will result in an unmatched sense of pride and success.

Everything on this list is absolutely attainable from becoming a business Angel who helps small businesses to raise their finances to spending your money on more entertaining pursuits. All you need is the vision and drive to achieve your dreams. Anything is possible with hard work, motivation, and perseverance, and striving to own a business and become a business Angel before turning 40 is a sensible, achievable goal that will result in an unmatched sense of pride and success.

Now is the time to create your list of dreams, establish your goals, and use your drive and dedication to reach your full potential. Visit www.angelsden.co.uk to find out more about becoming a business Angel or gaining funding for your new venture.

Don’t You Go Changing Now - Angel Finance

2009-06-26T10:16:00.002+01:00

In this loan-shy banking era, Angel finance is one of the most frequently used methods of financing a new business, and more and more small business owners are taking advantage of this lucrative opportunity.

So what is ‘Angel finance’? The ‘Angel’ is a wealthy private investor—not bound by the rules of a venture capital firm, but governed solely by his or her own common sense—who is looking to invest in new opportunities. If your business could benefit from a capital injection to boost its chances at success, then it is this type of person whom you will need to impress.

With this in mind, we have compiled our ‘top three’ rules for pitching for Angel finance

Pitching for Angel finance rule #1—Be yourself
When pursuing Angel finance, be yourself. Don't try too hard—the prospective investor is likely to see right through you. Remember, these wealthy individuals got to where they are today because they're savvy entrepreneurs used to sifting out the truth. They won't be impressed if they discover that you’re putting on an act to impress them—and they will be able to tell. Besides, nobody likes a kiss-up.

It’s only natural to want to do well in what could possibly be the most important meeting of your business life, but presenting a persona invented for your Angel finance pitch in the belief that it will show an investor what they want is a bad strategy. So if you're not funny, don't try to crack jokes when pitching for Angel finance—and if you're not naturally sombre, don't try to button it down. Start simply by being yourself. If you come across as unnatural or uncomfortable because you're trying too hard to impress the investor, he or she will pick this up and feel less inclined to invest in you.

Pitching for Angel finance rule #2—Keep it short and professional
At an Angels Den SpeedFunding event, you will have just three minutes in which to present your case for Angel funding to each investor. Remember, these are wealthy individuals and you're not the only one clamouring for their support. So while you need to be yourself, you also need to make your pitch professional—complete with all of the relevant information about your business, and its facts and figures. In short: you should know your stuff.

Think about an excited new mum or dad: they can answer any question about their baby. They know how much she weighs, what time she was born, what birthmarks she has, and where. Your business is your baby—and you ought to be prepared to answer any question that the investor might have, with the information right at your fingertips.

Make a list ahead of time of the questions that you might be asked during your pitch for Angel finance and make sure that you have those answers uppermost in your mind. If you have to dig for the answers (‘Um… Good question… Let me see here... I know I have it somewhere...’), you'll end up wasting time and looking unprofessional.

Pitching for Angel finance rule #3—Honesty is the best policy
While you must be honest in being yourself, you must also be honest in relation to your business. If you try to inflate the facts and figures, once again, your potential investor will find you out. He or she may discover your omission or exaggeration long after your pitch—but whenever they do so, their trust and confidence in you will be destroyed. So when you make that graph, or when you write up that product comparison, stifle the urge to manipulate the truth. Of course, you love your business or your business idea. Of course, you think it's a great idea—it's your own idea, after all. But just because you think it's great doesn't mean that you need to come off sounding like a cheap used car salesman.

If your potential investor smells something fishy—such as a prospective sales figure for the first year that sounds a little too optimistic, or an assertion that you'll definitely crush the existing competition without so much as a whimper from them—your pitch will be over before it really gets started.

So good luck with your Angel finance pitch: remember to be honest, professional, and—most importantly—be yourself, and it’s sure to go well.

You Are What You Wear For Private Equity Investors

2009-06-24T10:58:00.005+01:00

So, congratulations: you've earned a meeting with a private investor. You must have done something right to impress him or her in order to get this far, so don't stop now—keep impressing your business Angel throughout the pitch that you'll be giving.

Think about what a private investor will be looking for in a prospective business partner. The private investor is looking for someone who's professional, who carries themselves well, who's comfortable in their own skin, and who's in touch with what's happening in the world. But he or she also wants to see if the person in whom they might invest is a risk-taker. The private investor wants to know that they are investing in someone with some ‘chutzpah’, some leadership—that is, someone who doesn't just follow the herd.

So what should you wear to that first meeting with your private investor?

What you're wearing is the first thing on which a private investor will judge you, before you ever open up your mouth, show them your graphs and your reports, and before you even flash that toothy smile for which you're so famous. A private investor will be checking to see if you’ve dressed to impress—or if you’re taking the meeting lightly by dressing as though it's just another night out at the pub.

The question, then, is this: who do you use as a role model for your business dress sense?

Are you a Richard Branson?
Sir Richard Branson always looks immaculately dressed, even when sporting a shell suit for his record-breaking attempts—but his favorite look is smart shirt, no tie, top button undone, and a jacket. Sir Richard pioneered the successful entrepreneurial ‘smart casual’ look. The man who started his first successful business when he was just 16 years old certainly doesn't have to wear a tie if he doesn't want to!

At Angels Den, we like this look: too casual and it looks as though you’re not taking your private investor meeting seriously; too trussed up in a suit and you’ll look out of place—most of our SpeedPitching events are relaxed affairs.

Are you an Alan Sugar?
For those who can't pull off ‘the Branson’ for their private investor meeting (and let's face it, not all of us are blessed with Branson's innate sense of style), there's always the look of Sir Alan Sugar.

The ‘Alan Sugar’ is a bit more formal than the Branson. Being comfortable is the most important thing for a private investor pitch, so if you feel more natural in a suit and tie, then go with that—although, at Angels Den, we would suggest that even if you love your pinstripe, you should probably lose the tie.

Are you a Deborah Meaden?
Deborah Meaden, of Dragon’s Den fame, has her own personal stylist, so it’s not surprising that she looks the part each week on the show. Often found in traditional black or grey, she goes for a very simple corporate style, with no flourishes of colour and no eccentricities—just clean lines.

A perfectly acceptable look for the successful businesswoman about town, the Meaden can seem a little bland to a private investor who is looking for the ‘wow’ factor in the person pitching to them—but it is certainly the ‘safe’ option.

Are you a Lois Cook?
Co-founder of Angels Den, the UK’s premier private investor and entrepreneur meeting place, Lois Cook has a very different view on style: ‘First impressions count, and how you present yourself to a private investor at your pitch will go a long way to opening the door of opportunity for you.’

Lois believes in presenting a smart and professional look—but adding a touch of creativity to suggest an innovative mind. The trick is to dress up without looking too formal, to be feminine without being distractingly sexy, and to stand out from the crowd.

Overall, when you meet your potential private investor for the first time, you want the way in which you're dressed to send a message—and that message should read: ‘I’ve got what it takes.’