YHP http://yhponline.com Entrepreneurs In Depth | Be Inspired | Your Hidden Potential Tue, 26 May 2015 21:16:07 +0000 en-US hourly 1 Startup of the Week: EventNinja http://yhponline.com/2015/05/26/startup-of-the-week-eventninja/ http://yhponline.com/2015/05/26/startup-of-the-week-eventninja/#comments Tue, 26 May 2015 21:15:25 +0000 http://yhponline.com/?p=37411 Anthony Francis and Manuel Frigerio are co founders of EventNinja, this weeks startup of the week. EventNinja allows event organisers to optimise their event campaign and connects all their ticket sales to actionable insights about their attendees to increase ticket … Continue reading

The post Startup of the Week: EventNinja appeared first on YHP.

]]>
EventNinja

Anthony Francis and Manuel Frigerio are co founders of EventNinja, this weeks startup of the week. EventNinja allows event organisers to optimise their event campaign and connects all their ticket sales to actionable insights about their attendees to increase ticket sales and improve attendee experience.

EventNinja is an evolution from their former platform CampusBoard.io. CampusBoard started off as a pet project that rapidly evolved into one of the biggest platforms in the London tech community to find the best events, jobs and people. After speaking to event organisers using the platform, they discovered people wanted better tools to drive ticket sales, improve attendee experience and ROI when organising events.

EventNinja offers marketing tools to increase ticket sales. Event organisers can explore people who have viewed their events but haven't yet purchased a ticket. They can easily identify and retarget interested prospects to increase your ticket sales.

EventNinja Dashboard

EventNinja also recommends the best events and people worth reaching out to in advance of an event and identifies the event influencers to increase social reach and leverage their growing attendee list and community.

It is free to use EventNinja with only a charge of 2% commission and 50p per ticket for paid tickets. Premium plans are coming soon.

EventNinja has over 4000 users and 200+ registered event organisers. If you are an event organiser looking to make the most of the events you run then check it out. They are currently allow event organisers to run unlimited paid events commission free for the first 30 days of registering so sign up to today ​here.

The post Startup of the Week: EventNinja appeared first on YHP.

]]>
http://yhponline.com/2015/05/26/startup-of-the-week-eventninja/feed/ 0
Tech Startups on Business Finance http://yhponline.com/2015/05/26/tech-startups-on-business-finance/ http://yhponline.com/2015/05/26/tech-startups-on-business-finance/#comments Tue, 26 May 2015 21:10:04 +0000 http://yhponline.com/?p=37419 If you are looking to start your own business venture, one of the most important things you need to consider is finance. Finance is needed to not only to start the business, but also to keep it afloat during the … Continue reading

The post Tech Startups on Business Finance appeared first on YHP.

]]>
If you are looking to start your own business venture, one of the most important things you need to consider is finance. Finance is needed to not only to start the business, but also to keep it afloat during the early stages of its growth.

In order to get insights on how to tackle the issue of finance, we’ve spoken to a number of UK based tech startups who have shared their experiences and advice on how to overcome this challenge.

Business Finance for Tech Startups

First up we have advice from Ry Morgan, the co-founder and CEO of Yomp. Yomp provides a health and wellbeing platform that helps to increase productivity, reduce absenteeism and boost employee engagement.

Did you experience any financial difficulties when you first set up the business and how did you overcome them? 

Setting up any kind of business involves financial investment - both in terms of getting the product / service off the ground and the opportunity cost of giving up on alternative forms of employment. Typically software companies require large sums of upfront investment, but we structured a great revenue-share deal with a development agency in Scotland, negating the need for large sums of capital. On top of this I obtained a £10,000 personal loan from my bank to keep a roof over my head! Worst case scenario the business failed and I got a “real job” to pay it back. 

What is the most important financial lesson have you learned so far? 

If I was to launch a business again from scratch, I’d be less “British” about profitability and perhaps raise funding earlier so as to help drive growth as opposed to worry about making payroll each month. Until recently, all of our growth was organic (reinvesting profits into new hires / development) but we’re now at the point where a large investment would allow us to focus on market dominance as opposed to maintaining profitability - i.e. growing much faster than if we were beholden to cash flow restrictions. 

What financial advice do you have for new startups? 

It’s somewhat a cliché, but the sooner you can generate revenue from real paying customers the better. Not least because it extends your runway, but more importantly because it’s a market validation which shows you’re actually onto a potential market (which saves you wasting your time and helps attract prospective investors).

 

Next we have expertise from Steve Thair, the co-founder of DevOpsGuys. DevOpsGuys provide application management solutions to help simplify business processes.

Did you experience any financial difficulties when you first set up the business and how did you overcome them?

Despite all the hype around government guarantee schemes the High St Banks are useless when it comes to lending to startups and SME’s, particularly those with less than 2 years of trading history.

What is the most important financial lesson have you learned so far?

Get a good online accounting package e.g. Freeagent so you can track your sales and costs on a daily basis.

What financial advice do you have for new startups? 

If you are going to seek Angel, VC equity funding make sure that you’ve got your company to stage where you have a stable pipeline or roadmap so that this distraction of fundraising doesn’t destroy your ability to execute on your vision.

 

Finally we have insights from Daniel Murray, the co-founder of Grabble. Grabble developed an app that notifies users when the fashion they want drops in price

Did you experience any financial difficulties when you first set up the business and how did you overcome them? 

Yes all the time, lawyers are the best way to navigate, as is putting the time in to research and asking people all the time no matter how small or stupid it makes you feel.  

What is the most important financial lesson have you learned so far? 

The most important financial lesson is raise so much more than you think you need for each goal because there are hundreds of surprise ways to run out of money.

What financial advice do you have for new startups?

Only pay for things you absolutely have to, learn how to be a jack of all trades even if you aren't the best at them, people are quite forgiving and all you need to care about is your business surviving between each funding round, not pride or what anyone else thinks.

We hope that these first hand experiences shared by these startups have given you the insights needed to face the challenge of finance when starting your very own venture.

 

Author Bio: Nigel Breddy is the Managing Director of Databax. Databax provides hosting and data backup services to businesses of all sizes across the UK.

The post Tech Startups on Business Finance appeared first on YHP.

]]>
http://yhponline.com/2015/05/26/tech-startups-on-business-finance/feed/ 0
Why Startups Fail http://yhponline.com/2015/05/16/why-startups-fail/ http://yhponline.com/2015/05/16/why-startups-fail/#comments Sat, 16 May 2015 12:54:10 +0000 http://yhponline.com/?p=37394 In essence it's easy to understand why Startups fail; a lack of customers. But why is there a lack of customers? This infographic, 'Why Startups Fail' takes an in depth look at the reasons why startups fail and what issues … Continue reading

The post Why Startups Fail appeared first on YHP.

]]>
why startups fail

In essence it's easy to understand why Startups fail; a lack of customers. But why is there a lack of customers? This infographic, 'Why Startups Fail' takes an in depth look at the reasons why startups fail and what issues are faced at each stage of the startup lifecycle.

Understand why startups fail, you can ensure you look out for the signs early, saving time and money.

 

Why Startups Fail

See how IncuBus London can save you time and money and guide your startup to long term success. Apply to their summer incubator.

The post Why Startups Fail appeared first on YHP.

]]>
http://yhponline.com/2015/05/16/why-startups-fail/feed/ 0
How Well Does Your Business Really Perform? 2 Business Intelligence Tools to Tell You http://yhponline.com/2015/05/14/business-intelligence-tools/ http://yhponline.com/2015/05/14/business-intelligence-tools/#comments Thu, 14 May 2015 22:08:22 +0000 http://yhponline.com/?p=37389 When running a business, one of the most important aspects of making good decisions and formulating a strategy is knowing what is working and what is not. There are many different business intelligence tools that are available today. According to … Continue reading

The post How Well Does Your Business Really Perform? 2 Business Intelligence Tools to Tell You appeared first on YHP.

]]>
When running a business, one of the most important aspects of making good decisions and formulating a strategy is knowing what is working and what is not. There are many different business intelligence tools that are available today. According to Clydesdale Bank, an institution that supports small businesses, these online business tools can help a business owner truly see the areas of the company that need improvements and which aspect is effective or not. The information they get can truly aid in making their business a success.

Business Intelligence Tools

Online Budgeting Tool

One of the best online tools for any business is an online budget tool that shows income and expenses. There are so many different types of budgeting programs you can find in the market today. Mint.com, Budget Pulse and Personal Capital are just some to consider.

It is important for every business to understand their different streams of income, and where that money comes from. Many businesses find out that a huge percentage of their funds come from only a couple of customers. If a business finds itself in this situation, it is important to keep those customers happy. Over the long run, having good data will drive good decision making. Online budgets are a great way to show where the income is coming from in a business.

In addition to income, online budgets will also show where the largest expenses are going. This is important because income minus expenses is the bottom line profit on a business. In order to reduce expenses, it is important to understand what is driving those expenses. If a business has over half of its expenses going out under one category, this category should be the first place the business goes before doing anything else. If a business can understand where all of its income comes from and where all of the expenses go, they can start to get a high level view of exactly what is going on in their business.

Marketing Tool

Finally, another great tool for any business is to invest in a good and effective marketing tool. Some tools to consider would be BuzzSumo, Mention, VWO and a lot more. There are many businesses that spend thousands or millions of Pounds per year on marketing, but do not know the payoff to those efforts. It is important to what your customers want.

With these marketing tools, you find valuable information in regards to customer and market behaviour and patterns. This way, you know which works and which just a waste of money is. There are many ways to measure the effects of marketing, but at the end of the day the marketing efforts should result in higher sales and profits for the company doing them.

The post How Well Does Your Business Really Perform? 2 Business Intelligence Tools to Tell You appeared first on YHP.

]]>
http://yhponline.com/2015/05/14/business-intelligence-tools/feed/ 0
Interview with 12 year old entrepreneur Millie Rose Notarantonio http://yhponline.com/2015/05/12/millie-rose-notarantonio/ http://yhponline.com/2015/05/12/millie-rose-notarantonio/#comments Tue, 12 May 2015 00:11:42 +0000 http://yhponline.com/?p=37385 The entrepreneurial spirit seems to be capturing an ever younger generation. 12 year old Millie Rose Notarantonio has already been running a startup for almost 18 months. It stands her in good stead for the future, running a business is … Continue reading

The post Interview with 12 year old entrepreneur Millie Rose Notarantonio appeared first on YHP.

]]>
The entrepreneurial spirit seems to be capturing an ever younger generation. 12 year old Millie Rose Notarantonio has already been running a startup for almost 18 months. It stands her in good stead for the future, running a business is a huge learning experience and starting so young while having a fall back provides a great opportunity. I caught up with Millie to find out more about starting her business and what she's learnt along the way.

Millie Rose Notarantonio

Can you give me a bit of background to yourself?

I am 12 years old and go to St Mary College and I am in Year 7. In my spare time I play football for Pinefleet Wolfreton Girls and train on a Thursday night and play in a league on a Saturday morning.

I have two older sisters, Megan who is 18 and works in a hospital and Becca who is 21 and will be starting as Primary School teacher in September.  I also have two dogs, one is a Lhasa Apso called Theo and the other is an American Bulldog called Harley.

 

What is your business?

I sell personalised merchandise where a customer gives me the information they would like to see put onto a range of products. This initially started out just on mugs and t-shirts but now I do lots of other products too, such as: phone cases, tablet and Ipad cases, ceramic ornaments, coasters, door hangers, jute bags, hoodies, teddies, glass chopping boards, compact mirrors and sweet jars.

 

What was the inspiration behind it?

My dad has a large workshop at home where he produces signs and graphics, I used to quite often help him and he would let me earn some money as well as use the computers a little bit. I then had a chance to make my own mugs to begin with.

 

How did you fund it when you first started?

When my Dad went to buy some more machinery for his workshop he was also offered a mug press & sublimation printer, so he bought me this so I get started with making mugs. Dad said I could pay him back when I had enough money but he did let me off with this J . I now pay for everything to do with the business including materials, inks, blank products and paper.

 

What has been the biggest challenge in starting your business?

One of the biggest challenges has been making people aware of the types of things I can do and I also needed to make my products different to anyone else’s. By making more people aware I am sure I could sell more products.

I had a simple website called www.mugsandtees.co.uk but it was recently hacked so it is only a holding page at the moment, this was a setback.

 

How are you overcoming these challenges?

I was able to get a grant from the John Cracknell Youth Enterprise Bank that allowed me to buy a great heat press that lets me do lots more products than before.

To make my products different from others I have designed my own range of characters which is called the’ Millie-Rose range’. This is where the customer can choose from varied female characters and can choose the body, hair colour and eye colour too. These have been very popular.

I have also tried to make more people aware by creating a Facebook page (which my Dad monitors for me) a lot of my orders come through Facebook too. I also made a Twitter account where I post all my recent orders and often get orders from customers on this.

I have asked a company called ApplePear to make me a new website which will allow customers to buy online and see how their designs look it will be called www.millierose.co

 

How do you manage school work with your business?

I usually get lots of homework and I often have quite a few designs to do for customers so I have to make sure I get them both done on time and don’t leave them until last minute. When I get homework I usually get it done before the weekend so then I can get my business work done on a Saturday or a Sunday. I haven’t yet had a detention for not doing my homework which is good. Since I started to do more products I sometimes do get quite busy with my orders but I am able to manage the two well so far.

 

What do your friends and family think of you starting a business so young?

My family have been really supportive and have helped to let people know about the things I do, they have also bought products off me too. A lot of my close friends know about it and think it’s good but I think they are more impressed that I can buy myself nice things with the money I earn.

 

What have been your biggest achievements since you launched your business?

Being able to get a grant was a big milestone as it helped me be able to offer a wider range of products.

I am really pleased with my new Millie-Rose range as it seems to be quite popular with my customers and is completely unique to me, it will be really good when this becomes part of my website.

I also have my own current account where I can manage my payments and always have my own little bit of money where I can treat myself to something nice or go out places with my friends.  It was good at Christmas too as I was able to buy my family and friends presents that I wouldn’t be able to afford before.

 

What advice would you give any entrepreneurs just starting out?

If you have an idea don’t be afraid to try it because it could actually get you somewhere and if things get tough you can’t give up and just push your ideas aside. You have to make sure everything is done to a really good quality and is all done on time, otherwise you could get unhappy customers who will not buy from you again.

 

Thanks for your time Millie, some great advice and best of luck in the future!

The post Interview with 12 year old entrepreneur Millie Rose Notarantonio appeared first on YHP.

]]>
http://yhponline.com/2015/05/12/millie-rose-notarantonio/feed/ 0