We’re still waiting for the stats for 2015 but, in 2014, over 18,000 new businesses were started by entrepreneurs in Birmingham. that’s the equivalent of one new venture every 30 minutes!
It’s evident that a start up will most likely be started by a single individual (solopreneur) and the majority will be first timers.
Get advice on your start up early on in the process.
As time is precious, it often pays to get advice and guidance on your start up from someone who has been there before and can explain the best path to revenue and the most useful tools for you.
In 2014, one new entrepreneur backed themselves every 30 minutes, with over 18,000 new start ups in Birmingham alone.
No two start up enterprises are exactly the same.
Only one in two new ventures will live beyond the first five years trading, with half calling it quits within 60 months. We’re researching the 50% who cease trading to find the most common reasons.
In the UK, just under 1 in 5 business owners are female. Statistics and our ongoing research indicates that this ratio is moving towards 25% of business owners & founders being female by 2018.
The UK is a service economy, with 75% of businesses employing 0-249 people trading in the service industry sector. Additionally, 10% of all businesses are retail businesses. [UK Govt. stat. 2015].
Ideation is a term used to describe the formation of ideas and concepts, basically there building blocks of your start up. It can cover anything from changing or innovating with an existing product or service to starting from scratch with just an idea. I can help you with a one hour session focused on what it is that you have, why and where you want to go with it.
You can book a meeting to discuss your start up here and there’s more information on the costs and benefits on the pricing page.
In product development, the minimum viable product (MVP) is a product which has just enough features to gather validated learning about the product and its continued development. Gathering insights from an MVP is often less expensive than using a product with more features which increase costs and risk in the case where the product fails, for example due to incorrect assumptions. The term was coined and defined by Frank Robinson, and popularized by Steve Blank, and Eric Ries. It may also involve carrying out market analysis beforehand.
Lean startup is a method for developing businesses and products first proposed in 2008 by Eric Ries. Based on his previous experience working in several U.S. startups, Ries claims that startups can shorten their product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and what he calls validated learning. Ries’ overall claim is that if startups invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures.
You can book a one hour exploratory session with me here. You can also buy a copy of his book via my shop.
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For Businesses: Do you have questions about how I can help your company? Send me an email and I’ll get in touch shortly, or phone 0845 2200369 between 08:00 and 18:00 Monday to Friday — I’d be delighted to speak with you.