© Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 CHAPTER 15 Getting Up and Running © Inge Hill Start Up, Palgrave 2015

The cube faces addressed: © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Learning outcomes Explore trading officially and up and running Examine how to register a business activity Discuss legal protection and business insurance Identify some differences when running a social enterprise © Inge Hill Start Up, Palgrave 2015

Timing the start of (test) trading for market exploration No fixed point in time Dependent on: The development of your MVP (minimal viable product) Who you sell to – family/friends or unknown customers The amount of research carried out so far If you sell at a price or distribute samples for free / offer services for free © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Trading officially Questions to answer with YES Have you found the: MMP – the most marketable product? (see Chapter Six) Minimal marketable product? EVP – The exceptional marketable product? © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Last steps… © Inge Hill Start Up, Palgrave 2015

10 questions to answer with YES Can you say USP and value proposition convincingly? Can you outline benefits, customer pain, features convincingly? Can you summarise customer profile briefly? Have you got an action plan for marketing? Have you found the MMP and the resources to build and sell it? Have you registered as self-employed / sole proprietor or a company? Have you got business cards? Have you got business insurance? Have you got customers lined up? Do you feel ready to go? © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Ready to start up? © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Starting a business © Inge Hill Start Up, Palgrave 2015

Country rankings for ease of start-up © Inge Hill Start Up, Palgrave 2015

Legal protection and business insurance to consider Professional indemnity Public liability Product liability Business content and buildings and property insurance Employer’s liability – compulsory in the UK for the first employee © Inge Hill Start Up, Palgrave 2015

Running a social enterprise – differences? About 30-35 % different than a for-profit start-up / enterprise Dependent on the type of organisation and sector © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Summary Start-up readiness is a mixture of personal perception and having carried out a number of essential tasks, including exploring customer reactions with a minimal viable product. The sustainable start-up will take out some insurances to protect against some business risks. Social enterprises have six areas in which they differ from a for-profit start-up. The overall differences might be 30 to 35 %. © Inge Hill Start Up, Palgrave 2015

© Inge Hill Start Up, Palgrave 2015 Questions? © Inge Hill Start Up, Palgrave 2015