If you have dreamed of starting your own business, I hope that this lens will help you to bring your dreams down to earth and reality. Or maybe it will help you decide that starting a business and the enormous amount fo work and risk that entails is not for you- or at least not yet.
We took the plunge and risked everything on our own software development back in 2000- and most of us are still here and trying to make it work. We have followed some blind alleys and had moments of misery and almost gave up altogether in 2003- just before we made our first sale to a UK high street bank.
Even so- none of it has gone according to plan. We intended to raise venture capital- instead we bootstrapped using savings and credit cards and occasional contract work. We intended to focus solely on product development- instead we have made consultancy one of our revenue streams. We intended to sell to the blue chip market- instead we are currently focussing on SMEs.
So, the most important lesson we have learned is that to survive plans have to remain flexible- that everything takes at least three times longer than you expect- and that working for yourself is the most exciting and scary choice you can ever make.
As we are based in the UK, this lens will inevitably be biased towards resources that have been useful for us...many of them have information that is applicable wherever you are- although of course taxation and business law varies from place to place.
Business News from the BBC
Fetching RSS feed... please stand byUseful UK Sites for Business
- Business Link
- The UK government website for advice for small business owners. A good place to start researching everything you need to know about setting up a company - there is information here about everything from Finance, to Employment Law.
- Companies House
- This website is the offical site where you can find out all about how to register a new company in the UK. Useful tools include the ability to search for registered business names.
- The UK Patent Office
- This very helpful site explains all about UK patent law, and also has information about Trade Marks and Copyright. There is a very useful search tool that allows you to check whether anyone has already registered the great idea you are working on.
- Inland Revenue & Customs
- Okay, so we don't have to like it- but at least here you can find much of the information you need, and file various returns online. If it's working.
- Federation of Small Businesses
- This is a lobbying organisation for small businesses in the UK. The website contains information on joining the Federation and the ebenefits etc- but a substantial amount of information on a range of topics are available online to non members.
Our Company - Qualia Systems Ltd
Our software product- Incanto- is a business rules system. It has been designed for speed- to process large numbers of complex decisions in a very short time. It can be used for many tasks- from fast prototyping of new systems, to comprehensive testing of existing third party or in-house systems.Qualia's directors have many years experience in the IT departments of blue chip financial services companies. In addition to the Incanto product, they also provide specialist consultancy services in the business rules area.
Startup To Do List
- Have a great idea for a new product or service.
For best results- make it in area you know something about and are interested in- it will occupy all your waking hours so you might as well enjoy it. - Get your family on board.
Even if they aren't actively involved in the business, without their co-operation you will be lost. - Gather a team together.
At the very least you will need someone with big ideas, someone who gets stuff done, someone who understands money and someone who can sell. Or you'll have to learn to do these things yourself. - Get some good advice.
Talk to your local Business Link or Business Incubator. Try the Chamber of Commerce. You will eventually need the services of a good accountant and solicitor- networking locally will get you good recommendations. - Research your market.
You have to sell, sell, sell. The best market research is from potential and actual customers. Some of the best product features can be developed from customer requirements. Ask! - Make a plan, but stay flexible
Remember, obstacles are there to be surmounted. Find a way round or underneath. Do something different. Just do something. - Don't give up.
It isn't easy. It always takes longer than you thought it would. Even if you don't make the same mistake twice, there's always a new mistake. - Have fun.
What else are you doing it for? Do things your own way- otherwise you might as well be working for someone else.
Personal Recommendations
- Sussex Innovation Centre
- Our local business incubator, located on the campus of the University of Sussex at Falmer. We are tenants of the Innovation Centre and they provide a wonderful range of resources for new businesses- from information about grants and funding, to support with sales and marketing.
Business Fun
Not an oxymoron, really...
- Despair
- If you are fed up to the back teeth with unreasonable levels of optimism and positive thinking- take a few minutes to restore yourself to sanity by contemplating these demotivational posters, or reading The Art of Demotivation- one of the most depressing business books of all time. Also, these should be considered whenever you need a gift for a life coach or a marketing expert.
- Dilbert
- Check out today's Dilbert cartoon, from the wonderfully funny Scott Adams. He also has a blog - link from the page link above.
Business Networking - On and Offline
- Ecademy
- In my experience this is online business netweorking at its best. Try the blogs for some controversial discussion of current affairs, or the clubs for a variety of special interests - there is something to suit all tastes whether you are an Optimist, a devotee of Mind Mapping or would just like to join in the gossip in the Bitchy Boudoir. My favourite is the Nr 1 club- where we discuss every issue under the sun, and even occasionally talk business. A useful social outlet for those of us working from home - a sort of online water cooler- and very international. A variety fo levels of membership to suit all budgets and desired levels of participation.
- Much more business like online networking site. On LinkedIn users can choose the kinds of contacts they are open to- from getting back in touch to job offers- and as your email address is not open to public view there is some protection from unwanted contact. You can be introduced to other people via connections in your network. I haven't really used LinkedIn very much yet, but am told it is a useful business tool. To join my network on LinkedIn, please send me a message - see email the lensmaster on the right of the screen!
- Sussex Enterprise
- This is the home page of the Sussex Chamber of Commerce. Lots of useful information for small businesses, and opportunities to network in real life. Periodically Sussex Enterprise run an Introduction to Networking evening at one of the local hotels- a fun and useful way to overcome any residual shyness.
A Good Cause
- Mission in East
- Please check out this website - Mission in East does invaluable work with children and young people in the Ukraine and former USSR
Business Books on Amazon
The Beermat Entrepreneur: Turn Your Good Idea into a Great Business
The best single book I can recommend for someone who wants to start their own business. And I have read a LOT of books on the subject. This is the one I wouldn't part with.
Amazon Price: (as of 01/01/2010) 
The Best-laid Business Plans: How to Write Them, How to Pitch Them (Virgin Business Guides)
A good introduction to writing your business plan- whether the purpose of the plan is to raise finance, or to develop the business.
Amazon Price: (as of 01/01/2010)
Landscapes- There's a whole world out there!
Cape Point
Cape Point
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Light House
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Late December Settin...
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A little music to work by
- The British Harpsichord Society
- The British Harpsichord Society promotes the awareness, enjoyment, study, performance and ownership of harpsichords and related plucked keyboard instruments in Britain. Our aim is to create more public awareness and get more people enjoying and playing the harpsichord.
There are lots of interesting musical links on this site, and membership of the society is entirely free.
by AnnG
I'm one of the founders of a young software business, and have just dicovered the joys of online networking.
I'm also a keen amateur textile artist, a...
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