Coffee and a chat with an experienced entrepreneur
This week sees the first of our new weekly Enterprise ‘Clinics’ with entrepreneur Richard Baguley (LinkedIn).
Richard is Managing Director of GDR Public Relations and has 25 years’ experience in the PR & Communications industry for major blue chip brands. Richard is also a part-time tutor within the Lancaster University Management School.
This drop-in session will be a chance for you to come along and pick Richard’s brains – whatever stage you may be at please come along to have a chat with Richard about your idea, seek advice or discuss your progress.
We are looking to host this clinic with Richard on a weekly basis, rotating around campus locations. This week it will be hosted in Bowland Bar on Friday (4th May), 2-4pm. Let us know if you’re coming via email or Target Connect! Future dates will be added to our calendar as and when they are confirmed.
Coffees are on Richard!
“Whether you think you can, or you think you can’t, you’re right.” – Henry Ford
Last year, final year BA Hons Management & Entrepreneurship student, Charles Rogers, received funding from the Lancaster University Enterprise Fund in order to develop his startup, Cloudline. Cloudline is an app based platform which enables users to queue for nightclubs, without actually standing in line. Here he shares an update on Cloudline and what’s changed for him in recent months.
Since the funding a lot has happened for Cloudline. We have been rolling out to The Deltic Group’s clubs. We’ve encountered a few issues along the way but we’ve been able to get around these one way or another. Working with The Deltic Group has attracted the attention of other companies such as Merlin Entertainment who we’re currently in talks with, as well as several airports in Europe. We’ve taken onboard a new team member, Florian Wiedmann, former employee of EY. As of March we have been raising a seed funding round for £250,000, of which we have completed 50% of the round. The money will go towards employing two more programmers, a programmatic marketer and moving the project down to London.
The funding enabled me to draft a terms & conditions document with Stephen Wright from Morecambe’s Wright & Lord solicitors, enabling us to have a legal contract to sign between each business we implement the app with. It also helped us to learn the process of drafting legal documents with a lawyer, a valuable skill for the future. The validation of Santander standing behind this project has also considerably helped gain interest from potential clients and get meetings.
As a result of the above, we have been able to gain confidence from investors to secure funding and I have been able to meet with highly experienced people in the entertainment and app development industries. These factors have all had knock on effects which in turn have lead to more investor interest and further meetings with industry experts to help us refine our product and to explore different potential avenues which this project can go down. As things currently stand we will be moving to London mid June and couldn’t be more excited for the future of this project.
The Lancaster University Enterprise Fund is available through our partnership with Santander Universities. If you’re interested in applying for a maximum of £500, find out more here.
Different customer profiles when selling to a company
When people look at business-to-business operations they often map the companies they serve as customer profiles. However as explained within a recent Strategyzer blog post, it is actually the different groups of people within the company that should be mapped. Categories may include for example, decision makers, economic buyers, recommenders, saboteurs and end users, and each will have a different set of jobs, pains and gains.
Read more on the Strategyzer Blog.
Just a few quick reminders for anyone looking to enter the Santander Universities Entrepreneurship Awards 2018:
- Deadline: 5pm Friday the 13th April
Please email your Business Model Canvas (completed using the Santander Template) and two minute video pitch (a good way to do this is to upload it as an ‘unlisted’ or password protected video on YouTube and send us the link) to email@example.com. Please note: If you submit by the 6th of April, we will provide you with feedback before the final deadline!
How the Buisness Model Canvas and video will be judged is detailed within the Awards Information Pack (page 5).
- Looking for some help with your video?
ISS have a great online course which goes through the basics of video production and editing. Click here to access it.
Finally – if you have any questions, please don’t hesitate to get in contact (please note, we will be out of the office 29th Mar – 5th Apr) firstname.lastname@example.org
“The regulatory elephant in the room”
The EU’s General Data Protection Regulation comes into effect on the 25 of May 2018. Before then you will need to make sure you have made any relevant changes within your business to ensure compliance. As Enterprise Nation state in their blog post, ‘no business, big or small, can afford to ignore it.’
The blog article also gives six fundamentals for achieving GDPR success. Take a read of the article to help you start getting to grips with what may be required. The Enterprise Team will also hopefully be running a workshop on the topic early next term.
Awards to help start and grow your social enterprise
UnLtd offer support for enterprises with a social or environmental aim at the core of what they do. They have two types of awards available at present, for which expression’s of interest close on the 27th March 2018. Although this deadline is soon, award cycles run three times throughout the year, so good to keep in mind for future too!
Do It Awards
For those who want to create social change and would like to start working on an idea. Award includes 1-to-1 support, expert advice and access to resources including some funding.
Grow It Awards
For those who have identified a social issue and are committed to tackling it and have experience relevant to grow a venture. Award includes support to grow your venture and up to £15,000 funding.
For more information on UnLtd awards, visit their website.
Get plugged into Lancaster’s Digital network
Digital Lancaster are hosting a free networking event on Thursday 29th of March at The Borough on Dalton Square, to talk all-things digital and help bring like-minded people together. Digital Lancaster are part of Digital Lancashire, a not-for-profit community interest company aiming to accelerate the growth of the digital economy within Lancashire. This is a great opportunity for any budding digital entrepreneurs in the city!
You can register your attendance through Eventbrite.
Support in your application to win up to £25,000 for your startup!
Hopefully you’ve already heard about The Santander Universities Entrepreneurship Awards 2018 – your chance to compete against other students and recent graduates to win a wealth of support for your startup or established idea!
For the first round of the competition, applicants will be required to submit a two minute video pitch and completed simplified Business Model Canvas (using the template provided by Santander).
The Enterprise Team have two workshops scheduled to support you with your applications:
- Business Model Canvas/Value Proposition Workshop
Thursday 1st March, 2-5pm, Learning Zone Pod 4
This workshop will focus on helping you to bring your customer profiles together with your value proposition to successfully complete Santander’s template Business Model Canvas. Book through Target Connect.
Thursday 8th March, 2-5pm, Physics B009
This workshop will focus on how to best pitch your idea, the art of storytelling and also how to create an engaging video. Book through Target Connect.
The deadline for submissions to the first round is noon on Friday the 13th April. To find out more about the awards including details such as eligibility, please visit our dedicated competition webpage or email the Enterprise Team.
One of the UK’s largest student and graduate business pitching competitions, is HERE!
How can I find out more?
Come along to our information drop-in on Friday 23rd February in Pod 4 in the Learning Zone. We’ll be there throughout the day, ready to answer your questions and help you get off to a flying start. If you’re interested in hearing from someone who has been involved before, Charles Rogers, semi-finalist from last year’s competition will be joining us at 10:30am to share his experience. It would be great if you could email us to let us know if you are planning to attend.
Can I read anything in the meantime?
Yes! Please visit our competition information page here. You’ll be able to get an overview of the competition and download the information pack.
What other support will be available?
We will announce dedicated workshops on completing your competition Business Model Canvas, and producing a 2 minute video pitch, and offering 1-2-1 support with your individual application before Easter. Watch this space!