[LondonOpenCoffee] Business course for new entrepreneurs

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[LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
Hi Sarah,
What type os course are you looking for?
. Level of expertise?
. Finance side? Marketing Side? Brand Strategy side? Business model? Etc...
. What do you intend to achieve with this course?


On Tue, 4 Apr 2017 at 16:59, Sarah Ross <[hidden email]> wrote:
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Check out full mentoring with Rock Star Hubs - see Jonathan or Nuno

On 4 April 2017 at 16:59, Sarah Ross <[hidden email]> wrote:
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Kind  Regards,
Yours sincerely, 

Rashmi Panchal

07719 033889


OM 



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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1


Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Lol

Cool. Thanks 

Sent from my iPhone

On 5 Apr 2017, at 08:08, Andrew Lockley <[hidden email]> wrote:

Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Thank you everyone I was giving my daughter a hand looking for this.  She wants to start a food truck.

On 5 Apr 2017 08:11, "Paul Moutray" <[hidden email]> wrote:
Lol

Cool. Thanks 

Sent from my iPhone

On 5 Apr 2017, at 08:08, Andrew Lockley <[hidden email]> wrote:

Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Ha ha

Reminds me of a story I heard years ago about a lawyer from a top firm who quit and went back to NZ to run a small coffee shop. A few years later he decided to go back to the corporate world and interviewed successfully with McKinsey. All they wanted to know about was the coffee shop: how did he market, how did he manage staff, stock etc, what did he learn. Whatever else he did was irrelevant to them. 

Andrew's list is good. Some I would add

- Don't believe the hype - I mean never. Gartner and Forrester  reports are rubbish written by people who are paid by incumbents, get their research from incumbents and write what the incumbents want you to think - i.e. that they have the market stitched up. If they based decisions on these reports Uber, Slack, Airbnb would never have started. At the end of the day all that counts are that people are prepared to pay you for your product or service 
- A great quote I heard years ago 'you don't have to be smart to run a business. You can hire all the smart people you need'
- Always learn - business books often have 2-3 good ideas but can take 2-4 weeks to read depending on how much time you commit. I would suggest looking into the speed read summaries that you can get - Mark Zuckerberg does this. 
- But never go to these fraudster motivation coach sessions that charge you £1k to hear them talk s###.  They will only motivate you for a few hours and they pedal snake oil. 
- You will need to work long hours if you run a business but plan in time to exercise and eat healthily - exercise breaks are when you have your most creative ideas. You will get less colds and flus etc and be more productive at work. I put on 10kgs in 6 months at one start up. An experience I never want to repeat 
- Work out how much sleep your body needs and base your day on that. If you don't get the sleep you need you will not perform well - better to maximise your productive hours than pile up unproductive hours 
- From day one put in a system to track all incoming and outgoing invoices. Chase payment and pay your invoices on time - last day of the due by date is fine. But late payment can get you a bad credit rating and sour relations with suppliers especially when they are small businesses. 
- Obsess about cash flow - most start ups and small businesses go bust due to cash flow issues even when very 'profitable'
- I repeat chase payment on your invoices
- Once again chase payment on your invoices!


Some from personal experience in and around start ups:
- Watch out for 'hangers on' people who want a chunk of your equity but don't want to do anything other than meet a few evenings now and again to 'go over the books' or 'check strategy'.  There are too many 'dinner party entrepreneurs' who don't want to do any work but just tell people over a dinner party that they have a business
- Agencies - only use them if you really can't do it yourself. The good agency people will be there for the pitch then they give you a bunch of kids on low salaries being billed to you for £100-150 ph. People in agencies fake time sheets big time. The kids spend half a day playing suduko, or snapchat or at a company social and bill the time to you. Never seen an agency not claim that they haven't under-recovered and wave time sheets to 'prove it' even when we  worked out that the most they could possibly have done was 2 half hour phone calls in the whole month. Most agencies regard a retainer as money in the bank whether they do anything or not
- Talk to as many people as you can - you will be surprised how helpful people in non-competing businesses can be helpful. You can learn short cuts, see what worked for them etc. Talk to people who have been there, done it. Not consultants.
-  Network but take time to find the right networking events for you and your business 
- Think about why someone is doing something for you. Commission only deals rarely work - you get the desperate or people who are desperate and can't do it. Or you find they have another goal like selling a long term expensive project to your client which delays your sale. 
- Watch sales guys like a hawk - I have seen amazing practices to meet sales targets by getting fake sales 
- If someone is a liar, you must not accept this. Either you or he/she must leave the business. A leopard doesn't change its spots. I learned this to my cost. Even small simple lies are unacceptable as they hide a bigger problem 
- Ditto with abusive or unacceptable behaviour - although this is hard when the guilty party is your boss or the owner of the company. But face the facts - it will come to a head at some point and it is never good 
- Before launching and hiring sales guys, try selling yourself. If you can't sell your sales guy will probably not be able to sell either - don't believe your sales guy is a miracle worker. We had a sales guy once whose uncle owned what would have been our perfect client. But he refused to call him because he didn't want to mix family and business. I am always surprised by this approach. If you don't want to talk to you family and friends about the product then clearly you don't believe in it! After all it is the sale where you will care most about how it works out and you will get the most honest feedback
- Sales people exaggerate all the time - not just to win sales but in interviews. Every sales guy says 'I can sell 50 in my first quarter just from my existing contacts'. Within 2 weeks he/she is looking at Marketing saying 'where are my leads?'. Each sales head normally requires additional marketing spend to support. Don't forget this (says the marketing guy!)
- No-one reads anything that is not in a PowerPoint- I learned to my cost after spending weekends writing a marketing plan. All they wanted were 2 slides and a simple Excel sheet 
- Never trust what is written on a business card. Often they are consultants with no decision making power
- If a deal is too good to be true - 99.99% of the time is not true. No-one gives you something for nothing 

A business course is useful for some structure to your thinking. Learning the basics of accounting and marketing is never wasted IMO. But unless the diploma is of interest to you (to get a job, impress investors) then you can learn from books and online courses 

Sent from my iPhone

On 5 Apr 2017, at 08:11, Paul Moutray <[hidden email]> wrote:

Lol

Cool. Thanks 

Sent from my iPhone

On 5 Apr 2017, at 08:08, Andrew Lockley <[hidden email]> wrote:

Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Ask her to watch the film Chef!
And I spent 10 years in fast food, so if I can be of any help... 

Kamran 



Sent from my Samsung Galaxy smartphone.


-------- Original message --------
From: Sarah Ross <[hidden email]>
Date: 05/04/2017 09:18 (GMT+00:00)
Subject: Re: [LondonOpenCoffee] Business course for new entrepreneurs

Thank you everyone I was giving my daughter a hand looking for this.  She wants to start a food truck.

On 5 Apr 2017 08:11, "Paul Moutray" <[hidden email]> wrote:
Lol

Cool. Thanks 

Sent from my iPhone

On 5 Apr 2017, at 08:08, Andrew Lockley <[hidden email]> wrote:

Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
You may be talking about the wrong biz schools

On 5 April 2017 at 08:08, Andrew Lockley <[hidden email]> wrote:
Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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RE: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume

Hi Sarah,

 

I had the same idea when I moved in London and made some research about this business.

Now I am running a start-up doing something totally different but if you want I can talk with your daughter to help her with the first questions she could have.

 

Let me know,

 

Guillaume

[hidden email]

 

De : [hidden email]
Envoyé le :mercredi 5 avril 2017 09:18
À : [hidden email]
Objet :Re: [LondonOpenCoffee] Business course for new entrepreneurs

 

Thank you everyone I was giving my daughter a hand looking for this.  She wants to start a food truck.

 

On 5 Apr 2017 08:11, "Paul Moutray" <[hidden email]> wrote:

Lol

 

Cool. Thanks 

Sent from my iPhone


On 5 Apr 2017, at 08:08, Andrew Lockley <[hidden email]> wrote:

Since you asked... 

 

Things I learned running a blue collar business, that biz school doesn't teach you :

 

Sales skills 

Managing staff 

Taking shortcuts needs to be a default 

The impracticality of management theory in SME context 

Not needing funding is far easier and better than raising it 

Don't extrapolate from small marketing tests - find where the assumptions break 

Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 

Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them

People lie to you all the time, about everything 

Highly paid professionals are every bit as disorganised and unreliable as everyone else 

Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice

People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 

Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

 

I could go on... 

 

A

 

 

On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

 

What did you learn, that you didn't learn in uni?

Sent from my iPhone


On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

 

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

 

A

 

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,

 

I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

https://www.edx.org/sites/default/files/course/image/featured-card/bootcamp1_sp17_318x210.jpg

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.

 

Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

https://www.edx.org/sites/default/files/course/image/featured-card/launch.x-video_still-318x210.jpg

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

 

Good luck and best wishes,

 

Sheeba

 

From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs

 

Hi everyone

 

Does anyone know of a business course suitable for new entrepreneurs?

Many thanks.

Sarah Ross 





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RE: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume

Andrew – I kinda agree with all the points you mentioned J however this makes it all the more fun in real life .. someone replied about the wrong biz schools.. I wonder which biz schools can teach practicality that your list shows.. books are good.. actions are better. One key item we miss is we have to fix ourselves (professionally and personally) as business owners before fixing the business. That way we can deal with people lying and other minor issues that can grow worse.

 

Jeev

 

 

From: [hidden email] [mailto:[hidden email]]
Sent: 05 April 2017 08:08
To: [hidden email]
Subject: Re: [LondonOpenCoffee] Business course for new entrepreneurs

 

Since you asked... 

 

Things I learned running a blue collar business, that biz school doesn't teach you :

 

Sales skills 

Managing staff 

Taking shortcuts needs to be a default 

The impracticality of management theory in SME context 

Not needing funding is far easier and better than raising it 

Don't extrapolate from small marketing tests - find where the assumptions break 

Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 

Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them

People lie to you all the time, about everything 

Highly paid professionals are every bit as disorganised and unreliable as everyone else 

Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice

People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 

Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

 

I could go on... 

 

A

 

 

On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

 

What did you learn, that you didn't learn in uni?

Sent from my iPhone


On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

 

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

 

A

 

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,

 

I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

https://www.edx.org/sites/default/files/course/image/featured-card/bootcamp1_sp17_318x210.jpg

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.

 

Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

https://www.edx.org/sites/default/files/course/image/featured-card/launch.x-video_still-318x210.jpg

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

 

Good luck and best wishes,

 

Sheeba

 


From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs

 

Hi everyone

 

Does anyone know of a business course suitable for new entrepreneurs?

Many thanks.

Sarah Ross 





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RE: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume

Wow! I am “saving” these lists – some points already resonate with my experience and for others, I would rather learn early – thank you Peter! To add a few

 

•           In the toughest hours, physical exercise and humour is better than coffee (and other alternatives) to get back to your energy.

•           Apart from book summaries on text, you do get summaries on youtube that give you the top 10 points in less than 10 mins.

•           Learning from those books does not help unless you apply them – I make a small note on my desk or phone and think about it frequently till the lesson is burned into my behavior.

•           Every entrepreneur = visonary (25%), technician/actual worker (50%), and manager (25%). If you left your job because you hate the boss, you will hate the business very soon. If you always be a visionary, you will go into delusion.

 

 

 

 

 

 

From: [hidden email] [mailto:[hidden email]]
Sent: 05 April 2017 09:39
To: [hidden email]
Subject: Re: [LondonOpenCoffee] Business course for new entrepreneurs

 

Ha ha

 

Reminds me of a story I heard years ago about a lawyer from a top firm who quit and went back to NZ to run a small coffee shop. A few years later he decided to go back to the corporate world and interviewed successfully with McKinsey. All they wanted to know about was the coffee shop: how did he market, how did he manage staff, stock etc, what did he learn. Whatever else he did was irrelevant to them. 

 

Andrew's list is good. Some I would add

 

- Don't believe the hype - I mean never. Gartner and Forrester  reports are rubbish written by people who are paid by incumbents, get their research from incumbents and write what the incumbents want you to think - i.e. that they have the market stitched up. If they based decisions on these reports Uber, Slack, Airbnb would never have started. At the end of the day all that counts are that people are prepared to pay you for your product or service 

- A great quote I heard years ago 'you don't have to be smart to run a business. You can hire all the smart people you need'

- Always learn - business books often have 2-3 good ideas but can take 2-4 weeks to read depending on how much time you commit. I would suggest looking into the speed read summaries that you can get - Mark Zuckerberg does this. 

- But never go to these fraudster motivation coach sessions that charge you £1k to hear them talk s###.  They will only motivate you for a few hours and they pedal snake oil. 

- You will need to work long hours if you run a business but plan in time to exercise and eat healthily - exercise breaks are when you have your most creative ideas. You will get less colds and flus etc and be more productive at work. I put on 10kgs in 6 months at one start up. An experience I never want to repeat 

- Work out how much sleep your body needs and base your day on that. If you don't get the sleep you need you will not perform well - better to maximise your productive hours than pile up unproductive hours 

- From day one put in a system to track all incoming and outgoing invoices. Chase payment and pay your invoices on time - last day of the due by date is fine. But late payment can get you a bad credit rating and sour relations with suppliers especially when they are small businesses. 

- Obsess about cash flow - most start ups and small businesses go bust due to cash flow issues even when very 'profitable'

- I repeat chase payment on your invoices

- Once again chase payment on your invoices!

 

 

Some from personal experience in and around start ups:

- Watch out for 'hangers on' people who want a chunk of your equity but don't want to do anything other than meet a few evenings now and again to 'go over the books' or 'check strategy'.  There are too many 'dinner party entrepreneurs' who don't want to do any work but just tell people over a dinner party that they have a business

- Agencies - only use them if you really can't do it yourself. The good agency people will be there for the pitch then they give you a bunch of kids on low salaries being billed to you for £100-150 ph. People in agencies fake time sheets big time. The kids spend half a day playing suduko, or snapchat or at a company social and bill the time to you. Never seen an agency not claim that they haven't under-recovered and wave time sheets to 'prove it' even when we  worked out that the most they could possibly have done was 2 half hour phone calls in the whole month. Most agencies regard a retainer as money in the bank whether they do anything or not

- Talk to as many people as you can - you will be surprised how helpful people in non-competing businesses can be helpful. You can learn short cuts, see what worked for them etc. Talk to people who have been there, done it. Not consultants.

-  Network but take time to find the right networking events for you and your business 

- Think about why someone is doing something for you. Commission only deals rarely work - you get the desperate or people who are desperate and can't do it. Or you find they have another goal like selling a long term expensive project to your client which delays your sale. 

- Watch sales guys like a hawk - I have seen amazing practices to meet sales targets by getting fake sales 

- If someone is a liar, you must not accept this. Either you or he/she must leave the business. A leopard doesn't change its spots. I learned this to my cost. Even small simple lies are unacceptable as they hide a bigger problem 

- Ditto with abusive or unacceptable behaviour - although this is hard when the guilty party is your boss or the owner of the company. But face the facts - it will come to a head at some point and it is never good 

- Before launching and hiring sales guys, try selling yourself. If you can't sell your sales guy will probably not be able to sell either - don't believe your sales guy is a miracle worker. We had a sales guy once whose uncle owned what would have been our perfect client. But he refused to call him because he didn't want to mix family and business. I am always surprised by this approach. If you don't want to talk to you family and friends about the product then clearly you don't believe in it! After all it is the sale where you will care most about how it works out and you will get the most honest feedback

- Sales people exaggerate all the time - not just to win sales but in interviews. Every sales guy says 'I can sell 50 in my first quarter just from my existing contacts'. Within 2 weeks he/she is looking at Marketing saying 'where are my leads?'. Each sales head normally requires additional marketing spend to support. Don't forget this (says the marketing guy!)

- No-one reads anything that is not in a PowerPoint- I learned to my cost after spending weekends writing a marketing plan. All they wanted were 2 slides and a simple Excel sheet 

- Never trust what is written on a business card. Often they are consultants with no decision making power

- If a deal is too good to be true - 99.99% of the time is not true. No-one gives you something for nothing 

 

A business course is useful for some structure to your thinking. Learning the basics of accounting and marketing is never wasted IMO. But unless the diploma is of interest to you (to get a job, impress investors) then you can learn from books and online courses 

 

Sent from my iPhone


On 5 Apr 2017, at 08:11, Paul Moutray <[hidden email]> wrote:

Lol

 

Cool. Thanks 

Sent from my iPhone


On 5 Apr 2017, at 08:08, Andrew Lockley <[hidden email]> wrote:

Since you asked... 

 

Things I learned running a blue collar business, that biz school doesn't teach you :

 

Sales skills 

Managing staff 

Taking shortcuts needs to be a default 

The impracticality of management theory in SME context 

Not needing funding is far easier and better than raising it 

Don't extrapolate from small marketing tests - find where the assumptions break 

Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 

Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them

People lie to you all the time, about everything 

Highly paid professionals are every bit as disorganised and unreliable as everyone else 

Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice

People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 

Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

 

I could go on... 

 

A

 

 

On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

 

What did you learn, that you didn't learn in uni?

Sent from my iPhone


On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

 

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

 

A

 

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,

 

I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

https://www.edx.org/sites/default/files/course/image/featured-card/bootcamp1_sp17_318x210.jpg

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.

 

Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

https://www.edx.org/sites/default/files/course/image/featured-card/launch.x-video_still-318x210.jpg

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

 

Good luck and best wishes,

 

Sheeba

 


From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs

 

Hi everyone

 

Does anyone know of a business course suitable for new entrepreneurs?

Many thanks.

Sarah Ross 





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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Sarah..

It's great that your daughter is thinking along such lines... some people have preconceptions of what an entrepreneur should look like and what business they should call entrepreneurial... other like Musk, Branson and Jobs will tell you that entrepreneurs have vision, desire, determination, resilience and attitude... she doesn't need to go to school... but may make good use of mentors... find her a trusted mentor... I would also explore Virgin Startups. 

Kamran 



Sent from my Samsung Galaxy smartphone.


-------- Original message --------
From: Chris Puttick <[hidden email]>
Date: 05/04/2017 10:12 (GMT+00:00)
Subject: Re: [LondonOpenCoffee] Business course for new entrepreneurs

You may be talking about the wrong biz schools

On 5 April 2017 at 08:08, Andrew Lockley <[hidden email]> wrote:
Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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Re: [LondonOpenCoffee] Business course for new entrepreneurs

Guillaume
In reply to this post by Guillaume
Thank you to all who replied, really appreciate it.

On 5 Apr 2017 11:04, "kamran" <[hidden email]> wrote:
Sarah..

It's great that your daughter is thinking along such lines... some people have preconceptions of what an entrepreneur should look like and what business they should call entrepreneurial... other like Musk, Branson and Jobs will tell you that entrepreneurs have vision, desire, determination, resilience and attitude... she doesn't need to go to school... but may make good use of mentors... find her a trusted mentor... I would also explore Virgin Startups. 

Kamran 



Sent from my Samsung Galaxy smartphone.


-------- Original message --------
From: Chris Puttick <[hidden email]>
Date: 05/04/2017 10:12 (GMT+00:00)
Subject: Re: [LondonOpenCoffee] Business course for new entrepreneurs

You may be talking about the wrong biz schools

On 5 April 2017 at 08:08, Andrew Lockley <[hidden email]> wrote:
Since you asked... 

Things I learned running a blue collar business, that biz school doesn't teach you :

Sales skills 
Managing staff 
Taking shortcuts needs to be a default 
The impracticality of management theory in SME context 
Not needing funding is far easier and better than raising it 
Don't extrapolate from small marketing tests - find where the assumptions break 
Don't commit to overheads or fixed costs - unless you're in a world of pain because of their lack 
Customers don't pay and staff don't work logically/at all unless you are constantly monitoring them
People lie to you all the time, about everything 
Highly paid professionals are every bit as disorganised and unreliable as everyone else 
Managing cash flow is often a stark choice between behaving ethically and going bankrupt. Everyone ultimately makes the same choice
People who would never, ever nick your wallet will happily fiddle you for 10x that amount, when it comes to paperwork 
Other than specific entrepreneur support schemes, the public sector is a constant thorn in the side of SMEs 

I could go on... 

A


On 5 Apr 2017 07:49, "Paul Moutray" <[hidden email]> wrote:

What did you learn, that you didn't learn in uni?

Sent from my iPhone

On 5 Apr 2017, at 07:19, Andrew Lockley <[hidden email]> wrote:

Set up a low cost, blue collar business, with staff - eg a market stall

I learned more in 6 mths doing that, than in 4 years of business lectures at uni. 

A

On 5 Apr 2017 03:55, "Sheeba" <[hidden email]> wrote:

Hi Sarah,


I found this course very insightful and useful to me as an entrepreneur - https://www.edx.org/course/entrepreneurship-101-who-customer-mitx-bootcamp1-0

Turn your idea into a business, as you learn the essential skills needed to effectively identify and target customers.


Check this also out, though I haven't tried it - https://www.edx.org/course/becoming-entrepreneur-mitx-launch-x-1

Learn the business skills and startup mindset needed to embark on your entrepreneurial path from MIT’s premier program for aspiring entrepreneurs, MIT Launch.

Good luck and best wishes,


Sheeba




From: [hidden email] <[hidden email]> on behalf of Sarah Ross <[hidden email]>
Sent: Tuesday, April 4, 2017 3:59 PM
To: [hidden email]
Subject: [LondonOpenCoffee] Business course for new entrepreneurs
 
Hi everyone

Does anyone know of a business course suitable for new entrepreneurs?
Many thanks.
Sarah Ross 




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