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Your EnterQuest Bulletin - Issue 229
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| Thought for the week: "Minds are like parachutes - they only function when open" Thomas Dewar |
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In this week's issue:
Bad hair day turned good for dreadlocks wearer
Former call centre worker Alex Goodacre's bad hair day sowed the seeds of a business idea that's now generating orders across Europe.
When Alex was forced to turn to the Internet in his search for products to keep his own dreadlocks under control, he realised there was an opening in the market for dreadlock care products in the UK.
Alex bought two pots of dreadlock wax from suppliers in the US, kept one for himself and put the other on eBay. It sold in seconds.
He said: "The only suppliers of dreadlock products I could find were in the United States. I bought two pots of dreadlock wax for $15. The postage and packaging cost me $20!"
Alex discovered that by ordering the products in bulk, he could limit the cost of postage and packaging. He is now ordering in much larger supplies, selling them on, and supplying associated goods to his customers.
He was able to secure a £2,000 soft loan from the Prince's Trust and a small enterprise grant of £500, although the process of obtaining the funding for his business took him through a rather scary "Dragons' Den" style pitch.
"There were about nine people in the room who I had to convince that my idea was a good one. I convinced them that I had a unique idea and they decided to provide the funding."
This led to the launch his own website, Altered States, to provide services to the dreadlock community, with £3,000 of web design funding sourced through Business Link. Alex is currently developing the website to include even more products, and not all of them are hair related.
"I'm looking to develop a number of different websites under the Altered brand. As well as dread products, I'm introducing juggling and circus products, and decal artwork for PCs and iPods. That's because people with dreadlocks tend to be creative people who are interested in those kinds of products. It's more of a lifestyle choice aimed at party people."
Although Alex has no hairdressing training, and currently operates his business from his home, he hopes in the future to open a salon specialising in dreadlocks.
"Maintaining dreadlocks is a different skill to general hairdressing. Clients come from all over the country to see me. Even people from overseas have shown an interest in visiting me."
Tips for compiling market research questions
When compiling a market research questionnaire it helps to be aware that there are five main types of questions you can ask:
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Closed questions - where the only answers are yes/no/don't know. For example: 'Are you planning to move house this year?'
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Open questions - where the respondent is given the chance to answer freely. For example: 'What is your opinion about this new brand of breakfast cereal?'
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Multiple-choice - where a series of set answers is given, and the respondent chooses one. These are easy to summarise, but it is hard to design these questions without missing out other alternatives. For example, 'If you had a choice of countries to visit on holiday, which would be your first choice?' (India, Mexico, Spain or Italy?)
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Direct questions - relating to the respondent's own behaviour. For example: 'Which newspaper do you read most?'
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Indirect questions - by asking questions about other people, the respondent's own attitudes are revealed. For example: 'Where do you think the average parent would prefer to buy disposable nappies?' (At a chemist, a supermarket or a delivery service?)
When setting market research questions, you should also remember to ask your questions in a logical order, put the easy and interesting questions at the beginning of your questionnaire and to make the wording of questions as simple as possible.
For more information, see our practical guide to using a market research questionnaire. The Market Research Society also provides information about using a market research agency and publishes the Research Buyers' Guide.
Each week we provide you with summaries of some popular or emerging business ideas in the UK and elsewhere around the world.
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Ethnic clothes designer. Ethnic clothes designers create, make and sell a selection of ethnic garments, usually specialising in the clothing associated with one particular culture.
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Toolboxes and car kits targeted specifically at women. Catering for the needs of women, these are niche products that can make great gifts. Pink toolboxes are colour co-ordinated and include kits for gardeners, travellers and drivers.
Regularly improving your vocabulary is not just about learning a new word and its meaning. It will improve your general knowledge and make you feel and act smarter in all sorts of personal and business situations.
Do you know the meaning of the word 'lassitude'?
a) ambitious; determined
b) possessing few creative skills
c) lacking vitality or energy
d) easily led
Answer at the end of the Bulletin.
The following topical business issues have been recently reported in the media. Did your radar pick them up?
1) The Federation of Small Businesses (FSB) has come up with a novel way to save some British post offices threatened with closure. What is it?
a) reduce some full time post offices to part time opening
b) ban other outlets from selling stamps
c) stop pensions and benefits being paid into recipients' bank accounts
d) an advertising campaign featuring Postman Pat and his black and white cat
2) Small firms are losing business because they're failing to carry out what simple task, according to TimeEtc, which supplies business assistant services?
a) send out mailshots
b) turn on their fax machine
c) reply to their e-mails
d) answer the phone
3) The number of e-mails infected with viruses or malware fell in August. What proportion of infected e-mails are now being sent out?
a) one in 500
b) one in 1,000
c) one in 1,500
d) one in 2,000
Answers at the end of the Bulletin.
Gas safety advice for landlords
This Health and Safety Executive (HSE) webpage is a handy resource for landlords letting out property fitted with gas appliances. Using the form of frequently asked questions (FAQs), it sets out the legal requirements for landlords, such as who can service gas equipment and how often checks should be carried out.
Last chance to enter home business competition
The deadline's looming for Enterprise Nation's competition to find the best home based business. You have until 17 September to enter. The website also contains articles of interest and tips for home based business owners.
Marketing your business in a socially responsible way
Enterprises keen to market their businesses and to give something back at the same time can now buy charity Christmas cards overprinted with their own details. The Combined Charities Christmas Shops website has marked charities offering this service with **.
HMRC puts podcasts online
HM Revenue & Customs (HMRC) has put two new podcasts on its website. One looks at HMRC's online services for enterprises that filed their tax returns via the Internet; the other features answers to tax agents' questions, including queries about VAT registration delays and different tax avoidance schemes.
Postal rates website
This is a useful site for businesses posting goods at home or overseas. You can find information on postal rates, stamps, postal codes and postal authorities worldwide. There's also an Internet resources directory, which links to a variety of data from business pages to news and travel information.
Mentoring website launched
Horsesmouth is an e-mentoring website which puts experienced businesspeople and start ups in touch. You can browse for help on work, life and learning. It's looking for mentors from all walks of life and is keen for those seeking help to offer advice too.
Just one word answer
The answer is c).
Lassitude means a lack of vitality or energy.
The writer was unhappy about the lassitude shown by the agent appointed to find a publisher for her novel. |
How's your business radar? The answers
1) The answer is a) The FSB says Post Office Ltd should consider opening some branches for a couple of days a week, rather than closing them altogether.
2) The answer is d) A survey of small businesses and sole traders in Birmingham found almost six out of ten failed to answer their phones.
3) The answer is b) Software security firm Sophos says the number of infected e-mails being sent out fell to one in 1,000 during August, from one in 322 during the first six months of the year. |
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Good luck
The EnterQuest Team
This information is meant as a starting point only. Whilst all reasonable efforts have been made, the publisher makes no warranties that the information is accurate and up-to-date and will not be responsible for any errors or omissions in the information nor any consequences of any errors or omissions. Professional advice should be sought where appropriate. |
