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Your EnterQuest Bulletin - Issue 230
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| Thought for the week: "A failure establishes only this, that our determination to succeed was not strong enough." Christian Nevell Bovee |
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In this week's issue:
Blacksmith forges her way to success
When former social worker Shelley Thomas decided to change tack and study silversmithing and jewellery making, she had no idea she'd end up as a successful blacksmith. She works as an artist blacksmith, making bespoke iron beds and furniture, fittings for restaurants and bars, and public art.
She had her first taste of blacksmithing - which, contrary to popular belief, has nothing to do with shoeing horses - during an industrial placement as part of her studies.
"I thought I was more likely to make a living out of it," she said. "I didn't like it at first at all."
But she returned after graduation and worked with the resident blacksmith for three years on a part-time basis, before starting up on her own in 1990. This type of business requires plenty of space and can have high overheads, so London-based Shelley has shared the premises with various enterprises over the years.
She said: "My rent is quite high. I've got space, a forge and showroom, an office and storage.
"One year, I did it without any help. But it was too much, so I've gone back to sharing and it's great."
Currently, another blacksmith shares the premises and contributes towards the rent. When one is quiet and the other is busy, they help each other out. Shelley also has an assistant.
She said: "It goes in phases. I'm in here every day, six days a week, sometimes seven. My sixth day I'm in here but making jewellery."
Blacksmithing is heavy work and Shelley recognises that her body will eventually decide enough is enough, so she has also trained as a hypnotherapist. She believes creative entrepreneurs should have another string to their bow to fall back on when times are tough.
She said: "It was a dire wage for a long time and I was constantly in debt, and going in and out of debt until eight, nine years ago.
"Really look at your pricing. You're going to want at least two weeks' holiday a year; you're going to be sick at least three weeks of the year."
She also advises creative start ups to give away examples of their work to market themselves. A decade ago, she gave sofa and mirror frames to a hairdresser, and she's still receiving commissions on the back of that. "Giving does work," she said.
Shelley insists networking is vital: "Those who are failing are waiting for the work to come in. Unless you are very lucky, it's not going to arrive on the doorstep."
Finally, she says start ups should be prepared to take a risk.
"Do it - don't be scared away. Even if it fails, you succeed in some way by doing it."
Companies Act 2006
The Companies Act 2006 became law on 8 November 2006 and is being implemented in stages between January 2007 and October 2008. This is a complicated area of law as it is the longest Act which has been passed by Parliament.
Certain key changes to company law and procedure will take effect as from 1 October 2007. These include:
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Companies no longer have to hold annual general meetings although they may continue to do so.
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Decision making will be made easier by written resolution of a simple majority of shareholders.
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Directors' duties will be set out in a statutory statement.
The following links provide more detailed information about the Act and how it should be interpreted.
The Office of Public Sector Information (OPSI) provides a full text of the Companies Act 2006 as well as explanatory notes.
For more information and a timetable of when the various sections come into force, see guidance from the Department of Business, Enterprise and Regulatory Reform (BERR).
The publication 'Private Company Information' published by BERR may also assist in understanding the changes.
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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Bottled water delivery services. These services supply bottled water to a range of customers and can be operated independently or as a franchise.
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Tasting parties. UK-based My Secret Kitchen is taking selling goods by party plan in a different direction by offering food-tasting parties to willing hosts and guests. Samples on offer are from the firm's own range and include chilli chocolate fondue and beer bread.
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 'tractable'?
a) easily handled, managed or worked
b) difficult to control
c) grumpy or bad tempered
d) pleasant, sweet natured
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) A tribunal has ruled that what sort of perks or payments can be counted towards the National Minimum Wage (NMW)?
a) staff discounts
b) pension contributions
c) family tax credits
d) tips
2) Changes to the Data Protection Act from 24 October this year mean that businesses must be able to retrieve any information held about individuals within a given timeframe. How many days will they have to do so?
a) 10 days
b) 20 days
c) 30 days
d) 40 days
3) Which brand has been named as the coolest in Britain?
a) Aston Martin
b) YouTube
c) Nescafe
d) iPod
Answers at the end of the Bulletin.
Networking tips for small business owners
Freelance UK has come up with a handy networking tip for freelancers, which is equally suitable for small business owners. The tip places importance on preparation and planning to meet the sort of contacts you think you might need.
Web Ink Now blog
This blog is written by David Meerman Scott, a former vice-president of marketing at the NASDAQ-listed NewsEdge Corporation. David's blog covers a range of topics useful to the small business owner and includes posts on viral marketing, copywriting, press releases and social networking.
Google keywords tool
Google's popular Adwords application includes a Keyword Tool that can help you come up with new keyword ideas and search engine strategies. Using the keywords variations tab, simply type in a few keywords, pick the way you want the results to be displayed (e.g. by search volume or by trends), then click 'Get More Keywords'. Google comes up with a list of possibilities you might find relevant.
Free e-books
This directory from SiteProNews contains a list of free e-books you can download and view in your own time. Topics covered include business and the Internet, e-zines and marketing and promotion.
This book from marketing guru Seth Godin packages the best bits from his blog, his magazine columns and some of his e-books. As with many of Godin's books, it's packed with inspiring ideas and tips that could help you overcome any blips in your business. Check out:
Just one word answer
The answer is a).
Tractable means easily handled, managed, or worked.
The restaurateur hoped the new chef would be tractable. |
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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. |
