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2. © Inge Hill Start Up, Palgrave 2015
CHAPTER 15
Getting Up and Running
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3. The cube faces addressed:
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4. © 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
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5. 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
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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?
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Last steps…
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8. 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?
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Ready to start up?
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Starting a business
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11. Country rankings for ease of start-up
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12. 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
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13. Running a social enterprise – differences?
About % different than a for-profit start-up / enterprise
Dependent on the type of organisation and sector
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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 %.
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Questions?
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