Enterprise Lecture VIII//How not to fail.

Enterprise Lecture VIII//HOW NOT TO FAIL
Notes from today's lecture.


ENTREPRENEUR ROLLERCOASTER


Uniformed optimism > Crisis of meaning > Informed pessimism > Crash & burn > Hopeful realisation


5 REASONS WHY BUSINESSES FAIL


1. Failure to adapt to a changing climate.
2. Failing to continuously market yourself.
3. Not seeking professional advice. 
4. Inadequate accounting records.
5. Disregarding or misinterpreting financial records.


* SMART BUSINESS PEOPLE EMPLOY PEOPLE WHO ARE SMARTER THAN THEY ARE *


1. FAILURE TO ADAPT TO CHANGING TIMES//


- Keep up 
- Be informed
- Understand support networks- and your macro & micro environments.
- SWOT your competitors (3 other practitioners).
- PEST your environment (local business and target markets).


- NESTA website (What the creative industries are doing, etc, check for CLUSTERS- Leeds, Manc, etc.)
- DESIGN WEEK magazine- All aspects of the design industry.
- A-N (AN).org.uk- Artist's Newsletter (Artists Talking, Publications, Networks, Research, Framework for business plan, etc).


- CREATIVE CHOICES- Career clinic (Subscribe to- message once a week, career guidance and graduate start ups).


- MARKETING PLAN- Talk about raising awareness, educate, etc.
 USE MARKETING COMMUNICATION MIX- Use 3 methods to promote our business.


3. NOT SEEKING PROFESSIONAL ADVICE//


- "If I knew then what I know now" Behance promo video.
- How will you organise yourself? (Assign different roles).


4. INADEQUATE ACCOUNTING RECORDS//
5. DISREGARDING OR MISINTERPRETING FINANCIAL RECORDS//


BUSINESS PLAN


- What resources will you need? 
Equipment-Space-Stock-Rest of Equipment-Space.


- Three effective and innovative marketing methods- how and what.
Explain why they will be effective in reaching your target market.


YOUR PRESENTATION


- Keep it visual.
- No more than 10 slides.
- Do not use it as a crutch.
- Notes in hand.


- WILD FIRE (Freelance/business start up events, online business help).