Getting out of the ‘wantrepreneurial state’
In an article written for the UK Domain, a wantrepreneur is defined as someone with an idea who doesn’t take any action towards it, or takes action which is less important or indirect, often skipping the validation stage.
The article gives some tips on how to get going with your idea and out of the ‘wantrepreneurial state’ and also how to stay motivated as an entrepreneur. You can read the full article on the UK Domain Site.
If you’re struggling to get started with putting your idea into action, why not come along to one of our workshops or tell us about your idea?
You can see all of our upcoming events in the events calendar, or register your interest via the registration form to book a 1-to-1 IntroLab with a member of the team.
What to consider when looking for a tech job in a startup…
Working in a tech role for a startup can be a very rewarding, challenging and great for building experience and connections; pay also tends to be competitive and may include some perks. However, a job in a startup can also be extremely demanding and it may be difficult to establish a good work-life balance. This article on Dice UK’s blog discusses the importance of weighing up the pros and cons carefully when considering such a job.
Read the full article on the Dice Blog.
“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.
‘8 of the best books on innovation’
To mark World Book Day, Nesta created a list of 8 of their favourite innovation reads.
Take a look at the full list on Nesta’s blog.
Do you have any favourite enterprise reads?
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.
‘Help your venture to Thrive’
Thrive is a new social accelerator run by UnLtd, aiming to help ambitious social ventures to scale. The programme will include six months of intensive support along with an opportunity to secure up to £50,000 for your venture.
20 social ventures will be supported each year and for their first cohort they are looking specifically for ventures which are working to improve access to employment for those distant from the labour market.
If you would like to find out more about the accelerator or are interested in applying, Cathryn Chrimes from UnLtd will be coming in on Thursday the 15th of March to talk to potential applicants. This information session will take place from 12-2pm in Learning Zone Pod 4. You can also read more about the accelerator online.