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Youthweek - How to create a disruptive business!
Transcript of Youthweek - How to create a disruptive business!
money, money, money
firm up the
plan & product
surround yourself with talented people
get to grips with technology
start the build
get the business
known before launch
get serious investors on board
up the game with marketing
fire up the
scale and expand
put the cat amongst the pigeons
Why do you want to start a business?
What makes a successful entrepreneur?
First business started 2001 - sold April 2008
Overlapped & started second business Crunch in Aug 2007
Now has team of 90 & 4,000+ paying customers
Fastest ever growing accountancy firm in the UK
UK’s top 100
accountancy firms - 4 years from launch
Setup in a bungalow
Big vision created, shareholders agreement and team work for low salaries + equity
creating the Crunch brand
Involving people who have existing businesses
Drew & Steve
Know what you are not good at
Bringing Justine in on day 1 at Crunch
"Accountancy Scrappage Scheme"
For sales, record everything in a CRM:
Automate invoicing and direct debit collection:
Payonomy / GoCardless
Latest cloud phone system for -auto-call routing / auto bring up customer records
Create solid business processes - maximum efficiency
Upping the game:
Launching FreelanceAdvisor.co.uk in Feb 2008
Genuinely helps community
Now pays for itself in leads
100,000 visitors per month
Smoke & Mirrors
Released April 2009
Act like traditional accounting practice
Fear & reasons businesses fail:
Michael Van Swaaij
MD AOL UK
CEO Ebay Europe
CEO Skype / board Ebay
Birthdayalarm.com (Sold £13-14m)
Bebo (Sold $850m cash)
Put together Project F:
Reverse Switch Concept:
Explain to customers:
Launch / build business on premium model
Traditional sales team with clever online marketing
Get strong customer base & reputation
Send letters & set very clear blog post
15 teams at every main railway station
Free Crunch goodie bags with bagels
1000 in 2 weeks,
now starting to convert
Accounts For You
What is Exit Ready?
Due Diligence Perfect
Logo, names, products, TRADEMARKED.
Board meeting minutes
No skeletons in the cupboard
What is Exit Ready?
Strong Management Team
What is Exit Strategy?
Ideally your own IP
How Do You Value Your Business?
8x SAAS Model
Industry Benchmark Multiple
+ strong net profit
Value = net profit x multiple
Specialist Director I.e Accountancy
'Effective Board' - Mentor