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Figures Show that Going Local may be The Best Business Model
As many startups are looking frantically what the best business model could be for a prosperous future, recent figures show that going local may be the best way if one wants to attract advertisers to its business. Even though the figures are US based, one may assume that other markets will show a similar projection.
BIA/Kelsey released their forecast for US Local advertising revenues for the 2009-2014 period.
The highlights are as follows:
- U.S. local advertising market will grow to $144.9 billion in 2014
- Spending on traditional media will decline from $115 billion in 2009 to $108.2 billion in 2014
- Spending on online/interactive media is projected to grow from $15.2 billion to $36.7 billion (CAGR: +19.3%)
- Meaningful recovery beginning in 2012
- 55 percent of all ad spending is with local media
Giants like Google, Facebook, Yelp are all looking to capture the local ad-market, however a whole bunch of startups are doing the same, with examples as Foursquare and Bview. Here is a video of a local search with augmented reality features.
The 11 Points Action Plan for Bootstrapping your Startup
Christopher Fogg, The Bootstrapping Expert
While getting funding is on top of the agenda for many startup entrepreneurs, it does not mean that bootstrapping your company should be ignored. Christopher Fogg, the Chairman of Connect London, opened his first formal incubator in 1998 and has now started a total of 4 business incubators. He is a self-proclaimed bootstrapping expert, and he shared some of his tips at an event at HSBC in London to promote “The Aspire Fund” to support Women-led businesses with match funded equity investment.
Connect is perhaps unique in offering support to entrepreneurs through Bootstrapping Consultancy and Mentoring. Bootstrapping according to their method is based on the following principles:
- The art of starting a business with little or no external funding.
- The best funding comes from customers, not investors.
- Bootstrapping is about incremental growth based on actual sales.
By taking a bootstrapping approach, it is still possible to create a successful business, according to Connect. An example is Bill Gates who took this approach in Microsoft by securing his major client, IBM, before he had fully developed the product he was going to sell to IBM.
The 11 Points Action Plan for Bootstrapping your Startup
Connects’ bootstrapping services help entrepreneurs by aligning their approach to the bootstrapping policy of finding sales and a route to market, without increasing fixed overheads. It follows an Action Plan to Prepare the Startups, as follows:
1. Decide what you’re selling and to whom. Outline the key features and benefits of your
product or service on a single sheet of paper.
2. Identify potential customers and how to contact them.
3. Contact potential customers and start asking for orders. Of course, don’t mislead customers
about a service or a product that is not yet available, but don’t let that stop you from asking
for their business.
4. If your potential customers are not willing to buy the most likely initial outcome – find out
why. Take that information and update your product or service description. Return to steps
2 and 3, until you believe you have the right idea. Read more
Women Who Tech Panel at SWSX: Has The Glass Ceiling Ever Smacked You In The Butt?
Flickr: http://www.flickr.com/photos/jstar/
This week the allmighty SWSX conference takes place in Texas, USA, where the world gathers to discuss new developments in technology. As women & technology is still a hot debated topic, Allyson Kapin, of Women who Tech is leading a panel on the issue.
She says in the Austin Chronicle: While 30% of the tech labor force is women and 40% of all private firms are female-owned, women only receive around 10% of start-up cash. The tough news, she said, is that women in tech must “promote the hell out of themselves. … A lot of PR folks don’t like the word ‘expert,’ but if you are an expert in your field, embrace it. Don’t shy away from it.” She added, “It’s not very insightful to hear from the same few men in tech about their perspectives on the industry.”
Women Who Tech has devised a panel to discuss precisely these issues on Saturday March 13. 2010 at 11.00 am, Hilton E
Bumpin’ Up: Has The Glass Ceiling Ever Smacked You In The Butt?
Who’s to blame for creating the digital-ceiling? Upper management? Rawk star “techies” who fill their presentations with porn? Venture Capitalists who don’t fund enough women start-ups? Ourselves? Join tech and social media gurus for a thought-provoking discussion on cracking the boys-club and getting what you want. These are the questions that are to be answered, and you can twitter your comments via #sxsw
1. Who do you think is building the digital ceiling and why does it even exist in the first place?
2. What tools and strategies should women be use to promote themselves and brand themselves as experts in their field? Read more
Being an Ambassador for Female Entrepreneurs, that is: without the Chocolate!
Nadine Hill, aka The Dream PA, is UK Ambassador for Women Enterprise. She tells TheNextWomen about her new role:
If you are a woman in her mid 30’s like me, you may remember a chocolate advert from the 1990’s where the Ambassador had many Receptions, noted in Society! As an Ambassador for Enterprise UK, I’m happy to report that I have been to many Receptions, but unfortunately, there has never been chocolate on offer!
My most recent escapade was a trip to Downing Street where I was invited to attend a Reception to celebrate the success of Britain’s small and medium sized businesses! The Downing Street events team had heard about me through Enterprise UK, and along I went with around 50 other business people, to the event where I met one of my business heroes, Lord Alan Sugar!
Female Ambassadors Program
Another newsworthy event in my Ambassadorial role was when I represented the UK and flew to Stockholm in October 2009 to speak at the launch of a Europe wide Female Ambassadors Program. There, I told the delegates about my role and how it has helped other people to start a business or become more enterprising. The event inaugurated 150 new Ambassadors to the campaign for enterprise, and feedback I got afterwards was that I had really helped them to see what they could each do in their local areas, to help inspire other people towards enterprise. It helps to hear how a woman like them has embraced and run with her role.
Visits to a Women’s Prison and my Former Highschool
But it hasn’t all been glamorous Receptions at the Prime Minister’s house or trips to Europe! I’ve been to a women’s prison to give a speech to the ladies there, watching their faces turn from boredom to interest as they realize what they could start to achieve upon their release. I’ve re-visited my former High School and handed out the certificates on prize giving night, after telling the young students about my journey from their seat to my own business via a stint in London where I had a glamorous career in fashion PR!
I’ve sat on ‘Dragons Den’ style panels to judge business ideas at colleges and at a local council event. I’ve also spoken to people who have been made redundant and are thinking about setting up their own business, answering their questions about the peaks and pitfalls.
Being an Ambassador is a voluntary role which means I’ve taken time out of my business and personal time to fulfill it, but I’ve gained more than I’ve lost. Read more
Female Internet Hero: Audio Interview with Caterina Fake of Hunch and Flickr
As part of our Female Internet Heroes series, and in conjunction with NCWIT (the National Center for Women & Information Technology), The NextWomen are publishing audio interviews highlighting a diverse group of women innovators from small companies, larger corporations, and non-profits, whose ideas and products are changing the way we think, work, play, and communicate. Listen as these women discuss how they first became involved with tech, why they chose to be entrepreneurs and what advice they would give to young people interested in IT or entrepreneurship.
Caterina Fake, Co-Founder of Hunch and Flickr and TNW Female Internet Hero
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Listen to the NCWIT Entrepreneurial Interview with Caterina Fake. |
Caterina Fake
Caterina Fake is a NextWomen Female Internet Hero and co-founder of Flickr, the popular photo-sharing site that helped transform the web into the participatory environment it is today. Flickr was launched early 2004, but Caterina’s love affair with the net and web development started as early as 1994 when she worked as an art director at Salon.com and on the development of online communities, social networks and personal publishing.
Born in Pittsburgh, PA, Fake graduated from Vassar College in 1991 with a Bachelor of Arts degree in English. In 2001 she cofounded Ludicorp which in 2004 launched Flickr, later acquired by Yahoo! in 2005. While there, she worked on MyWeb and Yahoo! Answers and ran Yahoo’s Technology Development group, known for its Hack Yahoo! program, designed to stimulate innovation and creativity, and Brickhouse, a rapid development environment for new products.
In March 2009 her new company, Hunch.com which helps people make decisions and Read more
The Ladies go Gaga for Music Entrepreneurs
Here The NextWomen Events Editor, Misae Richwoods, waxes lyrical about Music4point5.
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Misae Richwoods (flickr cc: pevijo)
When it comes to the old sing-a-long, two girls who’ve been backing many an act are Petra Johansson and Rassami Hok Ljungberg, whose duo performances are made under the stage name of 2 Pears. Better known for their encore performances staging Tech Crunch Europe’s regular events, 2 Pears noticed that tech was starting to rock the music industry and put out a ballad called Music 4.5 to serenade the two together. Would it be an A-ha moment, INXS of expectations or Simply Red?
Panels
Held at Central London’s Cavendish Conference Centre near Harley Street, the line up was equally plush. An opening panel was made by The Guardian’s Jemima Kiss interviewing the head of The Performing Rights Society, Fergal Sharkey. Whilst half expecting him to break into a medley of ‘a good right these days is heart to find’, successive panels focussed on key topic areas and played a percussive chorus of music being a strong industry.
“Let’s get this clear,”
said Jeremy Silver of the FAC,
“all this talk of music being an industry in crisis is media hype. Look at the facts. Live music is massively on the up. Merchandising is on the up. The only area that technology has affected is recorded music and that’s the area that technology created in the first place.”
This was backed up by Chris Corey of the PRS
“From £1.3bn to £1.4bn last year in recorded, music is a growing industry and a great industry to be in”.
“The issue,” continued Jeremy, “is simply of an industry trying to modernise itself. And like the Post Office, it’s messy!” Read more
The NextWomen Invite Female Entrepreneurs to Dine with Michelle Dewberry and Chiconomise
Continuing with their ever popular series of Kitchen Dinners, The NextWomen are excited to announce their newest feast – Dine with Chiconmise on Wednesday March 24th, 2010 in London. Join Michelle Dewberry in The NextWomen’s very own kitchen for an intimate dinner and learn more about the ‘act of living stylishly for less’ from the founding Chiconomist herself. Enjoy peer-to-peer networking with successful online female entrepreneurs, a three course meal, speed mentoring and a fascinating keynote.
BOOK NOW
For more details visit our kitchen dinner and upcoming events pages and watch the video from our hugely successful Big Kitchen Dinner and photos.
MICHELLE DEWBERRY
__________________________________________________________________________
Head Hunted by a Major Internet Service Provider
After leaving school in Hull aged 16 with no qualifications, Michelle Dewberry started her career with a modern apprenticeship in business. Alongside this, she studied IT in her spare time and quickly moved up the corporate ladder. Aged just 22, Michelle was head-hunted by a major Internet Service Provider to manage one of their biggest international projects. Following the successful delivery of this project, Dewberry established herself as a self employed consultant, managing multi-million pound projects spanning across Europe and Asia. She was just 23 years old.
Winner of The Apprentice
Aged 24, Michelle seized the opportunity to apply for the second series of BBC’s The Apprentice and beat over 15,000 people to become the first female and youngest winner of the show.
Founder of Michelle Dewberry ltd and Chiconomise Read more
Veuve Clicquot Business Woman of the Year Award Finalists Announced
Veuve Clicquot has announced the shortlist for its Business Woman of the Year Award, bringing together shining examples of female
entrepreneurship. This year the organisers say the Award places a greater focus on Corporate Social Responsibility. The finalists include for the UK:
- Victoria Stapleton, Founder of fashion retailer, Brora
- Gill Riley, Founding and Managing Directorof construction
firm, GGR-UNIC
- Laura Tenison, Founder and Managing Director of retailing
company, JoJo Maman Bebe
- Louise Wymer, Director of catering company, The Catering Academy
The judging panel is comprised of business leaders, including Martha Lane fax and Gail Rebuck, CEO of Random House Publishing House. Each nominee was judged, not only on financial results and commercial success but increasingly on how each business embedded
social and environmental responsibility within their businesses.
JoJo Maman Bebe founder, Laura Tenison, was selected because of the launch of the Nema Foundation, a Mozambiquebased charity for infant mortality. Gill Riley of GGR was highlighted because her work as a champion to equal opportunities for women in a male-dominated industry. Read more
100th Anniversary of International Women’s Day 2010 sees some Remarkable Achievements
Each year around the world, International Women’s Day (IWD) is celebrated on March 8. Hundreds of events occur not just on this day but throughout March to mark the economic, political and social achievements of women.
As this year was the 100th anniversary of Women’s International Day 2010 it was a day full of very special achievements. We are listing them and keep updating this list. Send us your news to include in this list.
1.Kathryn Bigelow made history last night after becoming the first woman to win an Academy Award for Best Director.
2. Ms Neelie Kroes, European Commissioner for Digital Agenda will be awarded The Aletta Jacobs Prize 2010 of the University of Groningen, The Netherlands. She is receiving the prize in honour of the major social developments she has supported for women.
3. Female lawyers in Saudi Arabia are embracing a proposed legal change that will enable them to practise for the first time. (Source: The Lawyer)
4. ‘100 British Women who changed the World’ have been named by The Independent , including Martha Lane Fox, Clara Furse of the Stock Exchange.
4. 49 Most Notable Female Internet Heroes of 2009 have been celebrated by The NextWomen.
Please complete the list with us! Send us your tips on simone [at] thenextwomen .com
The 7 Rules of Business Discipline to Succeed in Business
Emma Wimhurst speaking at Women Unlimited
Experienced entrepreneur Emma Wimhurst of Diva Cosmetics, who sold her business after which she started to advise startups how to grow their business, spoke today at International Womens’ Day at the Women Unlimited Conference in London, organized by Julie Hall. She shared her rules of business discipline for entrepreneurs to control, grow and add impact to their business, as follows:
Business Discipline Number 1: Business Strategy.
Focus your vision in a mission statement with maximum 50 words. Think whether you now your customers, who is buying your products and why they are buying your products. What is your value that you are bringing? You need to have it, because it is inspirational, but above all, a reason to say no to certain proposals, which are outside the mission statement
Business Discipline Number 2: Planning.
Build your business with a business plan. Make an itenary, just like you are planning a trip. Overcome fears to drafting the business plan, take time out to do so. Get knowledge on the customers, who are your potential customers?
Building Discipline Number 3: Marketing Management
Master your Management. Make materials which reflect your values. If you invest in any marketing, whether it is a newtworking evening you are going to or a flyer, know your desired outcome, and put the investment in with that in mind. Everything you do needs to have a desired outcome, and then review it afterwards, in order to know whether the investment made sense.
Building Discipline Number 4: Practical Finance. Read more
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Extras
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