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Youthweek - How to create a disruptive business!

Diagram Test
by

Darren Fell

on 29 November 2013

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Transcript of Youthweek - How to create a disruptive business!

find and map
the idea
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
sales engine
scale and expand
put the cat amongst the pigeons
Why do you want to start a business?
What makes a successful entrepreneur?
My Background
First business started 2001 - sold April 2008
$7.8m

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

entered
UK’s top 100
accountancy firms - 4 years from launch
Story 1:
Story 2:
Story 3:
Setup in a bungalow
Big vision created, shareholders agreement and team work for low salaries + equity
Story 4:
creating the Crunch brand
Story 5:
Story 6:
Story 7:
Business Devils
Stuart within
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"
Direct Mail:
Will take
3 months
Keeping the
engine oiled
(keep selling!)
Is the
pitch
right?
Set time
aside
to keep
selling
Small targets
Medium targets
Massive targets
Get Techy...
For sales, record everything in a CRM:
Salesforce
/
Highrise

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
Story 8:
Upping the game:
Mission Statement:
Story 9:
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
Invoicing
Expenses
Act like traditional accounting practice
Basic System
Fear & reasons businesses fail:
Michael Van Swaaij
Paul Birch
MD AOL UK
CEO Ebay Europe
CEO Skype / board Ebay
Chairman Skype
Birthdayalarm.com (Sold £13-14m)
Bebo (Sold $850m cash)
Old system:
New system:
Put together Project F:
Reverse Switch Concept:
Customers:
Explain to customers:
Launch Free:
Sales:
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
Expansion:
Accounts For You
Developing the
Crunch Logo
Go Global:
What is Exit Ready?
Due Diligence Perfect
Spotless accounts
Logo, names, products, TRADEMARKED.
Board meeting minutes
Insurance
Employee Contracts
Supplier Contracts
No skeletons in the cupboard
What is Exit Ready?
Strong Management Team
Marketing Director
Sales Director
What is Exit Strategy?
Ideally your own IP
How Do You Value Your Business?
Strong Sales
8x SAAS Model
Finance Director
Multiple
Industry Benchmark Multiple
+ strong net profit
Source: Shirlawscoaching.co.uk
Value = net profit x multiple
Managing Director/CEO
Specialist Director I.e Accountancy
'Effective Board' - Mentor
Full transcript