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It is great to have a good business idea but the idea isn’t enough on its own – you have to know what to do with it and where to go for the answers. You may have an idea which is in your own line of business so you already have a lot of contacts and can move forward quickly. We were not that lucky. Both my partner and I together with our 4 teenage daughters had too much costume jewellery and nowhere to store it. Gay approached me with her initial ideas and thoughts of a jewellery storage product and I thought it was a fantastic business opportunity. However, neither of us had contacts or expertise in the necessary fields so we were very ignorant of the best way to move forward and wasted a lot of time, effort and money trying to find our way out of the maze.
I do not have all the answers to starting a new business or how to make it successful but I have learnt a few things along our own journey and would like to pass these on. The following are just a few pointers which, if we had come across earlier, would have been very useful to us and I hope that perhaps one or two will save time and money in your pursuit of success.
In no particular order:
1. ACID (Anti Copying in Design) Swag-bag was our idea and as there was nothing else in the market like it so we wanted to protect our design. Unfortunately, we did not find out about ACID until later by which time we had sought legal advise and registered our design and logo. We have however subsequently joined ACID and their support on the occasions when we have needed their advice has been fantastic. We also use their logo on our website in the hope that if someone feels the urge to copy our design knowing that we are part of a bigger organisation will at least make them think twice.
Tip: Great site to find out about protecting your idea. http://acid.eu.com/
2. Intellectual Property Office You can either complete the necessary forms yourself or go through a solicitor. We chose to complete the forms ourselves but legal advice may be necessary dependant on the complexity of your design and you will also need to decide whether a patent would be preferable. Speak to ACID first or a solicitor specialising in the area of intellectual property.
Tip: Get advice to ensure you protect your intellectual property. www.ipo.gov.uk/types/design
3. Business Link
Business Link was crucial in the progression of our product. By the time we finally met Stuart Wilson of Business Link Yorkshire, we had already had various prototypes made and were getting nowhere. Stuart then introduced us to Richard Hall of Pd-m International (www.pd-m.co.uk/ ) who turned our idea into reality. We paid Richard a fee to have the prototypes made in China and this really was going to be our final investment to find out if Swag-bag was a commercial proposition. If we had been told that it was not possible to manufacture our product at a viable price then at least we felt that we could say we had given it our best shot. Richard’s ongoing help and support has been tremendous.
Business Link can also offer lots of other support and it is certainly worth going to some of their talks which not only offer expert advice but also offer the opportunity of networking with like-minded people. At one very busy session in York I heard Shaa Wasmund speak and learnt about her new site, Smarta, which is a great for new businesses and packed with lots of advice and tips.
Tip: Contact Business Link in your area. They can offer lots of support and their talks are really worthwhile attending for both content and networking opportunities. www.businesslink.gov.uk/bdotg/action/home
Check out www.smarta.com
4. Paperworks
Both Gay and I had nightmares about packing up Swag-bags in the early hours of the morning as we have 5 teenage children between us and are both fairly ‘full on’ people. Richard again saved our sanity by introducing us to Paperworks which is a Social Enterprise company. This means that it is a business primarily aimed at delivering a social benefit, but which relies on trading income for financial support. The company offers training to help people towards work. This may be basic work skills or help finding a job. Training is based on the individuals needs and can accommodate a range of learning, physical and mental health disabilities. Paperworks is a fantastic company to work with and we are delighted to be able to support them in their business endeavours. There may be similar social enterprise companies in your area.
Tip: If you live in Yorkshire check out www.paperworks.org.uk or look for other Social Enterprise businesses in your area.
5. Networking
If you check out your local area there are lots of opportunities for networking. I would recommend the Small Business Federation and for lady entrepreneurs there are plenty of female networking opportunities. The lovely Etta Cohen of Forward Ladies is an inspiration and some fantastic events are organised locally to meet like-minded women.
Tip: There will be lots of networking opportunities in your area so take advantage of them and find one that suits you.
Federation of Small Businesses www.fsb.org.uk
Forward Ladies www.forwardladies.com
So, you’ve got an idea, you’ve done your research properly and you are still convinced it is an idea worth pursuing then I hope some of the above will help you on your journey. And, if not, there is always Dragons’ Den!
Tip: The internet is a great place to do your research – you may even find that someone else has already come up with your 'brilliant idea' or you may even discover products which you could improve upon.
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