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MNHQ

TONIGHT! Want to start your own business or already run one? Join webchat with panel of experts including Mumsnet CEO JUSTINE ROBERTS, Thursday 17 October 8-9pm.

17 replies

RachelMumsnet · 07/10/2013 17:43

For the next two weeks Barclays are running an Online Business Fortnight. It's a collection of the tools, tips and know-how you need to take your business to the next level online, gathered together and brought to you by experts, from networking wizards to social media gurus.

At 8pm on Thursday 17 October, we'll be joined by Dan Posner who is Head of Innovation Optimisation & Performance at Barclays Business, Justine Roberts, co-founder and CEO of Mumsnet and Chris Spurr, Web design and User Experience expert at Redwood, the leading content and marketing agency.

They'll be on hand to answer any business related questions you might have. So add your questions below and be sure to check back on the 17th.

Here's a reminder of our webchat guidelines

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MNHQ

JustineMumsnet · 17/10/2013 20:00

Hello everyone and welcome. Literally just got in having been stuck in traffic for eons. Imagine that, late for my own web chat. We're all in different locations, so this is all a wee bit experimental but fingers crossed…

MNHQ

RachelMumsnet · 17/10/2013 20:00

Welcome everyone to our webchat this evening. Dan, Chris and Justine are about to join us and will try and get through as many of your questions over the hour as possible.

MNHQ

JustineMumsnet · 17/10/2013 20:03

@InMySpareTime

Another question if I may: How best to tackle the general assumption that because I'm working from home I'm not "really" working. Teachers, friends etc. assume that because I'm at home I can go out for a cuppa, nip to the shops for them, look after their kids so they can do some work. I know, I need to grow a pair and tell them all to shove their little errands, my work is important, but I'm intrinsically nice (and inherently British) so I allow myself to get walked over then seethe about it. Any good phrases I can use to make the point that WAHM is different from SAHM? (I'm not denigrating SAHMs by the way, but I need to concentrate to get my writing done, I don't work well when constantly distracted).

Just be firm and say, I'm sorry I can't, I'm working. Keep banging on and the message will get through eventually.

MNHQ

JustineMumsnet · 17/10/2013 20:06

@MakeMineAKorma

Another one for Justine: I'm in the early stages of setting up an online business, and it has heaps of promise but I am really struggling with finding time to do as much as I want. (have 2 young DC and preg!) Plus social media is great for getting name out there but SUCH a distraction. Blush Any tips to remain focused so that you actually get things done?

Prioritise - make a list each day and make sure you put the important things - the 2 or 3 things you really want to address TODAY at the top, and don't let yourself do other things (even Mumsnet Grin) until you've done them. I find it quite useful sometimes to turn the wifi off - Twitter/FB and Gmail have all spent a lot of time, energy and money designing things that will grab your attention and distract you. Sometimes the only way to get on with stuff is to disconnect.

MNHQ

JustineMumsnet · 17/10/2013 20:10

@paulapg

I have an idea to provide information to the public. As this would be online and I would not be selling any products, how do I make money from my website? I could possibly sell items that related to the area in which I will provide information but I dont really want to have an online shop and hold stock and it would not be a large number of products. The information on my website is about products so some form of advertising could be an option. I dont want to make the website too complicated but would obviously like a good financial return.

Think about why people come to the site and what they might be prepared to pay for. Maybe there's some part of the information that is very valuable - maybe you could offer to package it up or deliver it in a way that adds value - like a subscription newsletter? Add on a forum? So folks who come can share a conversation around the info you're providing (forums are usually quite good for traffic Wink - then maybe you can monetise by selling ads)

MNHQ

JustineMumsnet · 17/10/2013 20:15

@Whistleforit

Inspired by the reasons for setting up Mumsnet & our own experiences we run a business www.villas4kids.com that provides fully stocked/child proofed holiday homes for families. Am never sure how to use Mumsnet best for it - nervous of even mentioning name in case am breaking rules. Modest budgets etc. MN seems more targeted than Facebook but is that right? And how to start.

Just looked at relike - great idea - v glad Abbe shared it.

What a good idea! I'd say think about reviews and free publicity first. Maybe offer a few press trips and make sure you get happy customers to review if you can. A good start is to ask them, some folks just will if you ask.

Mumsnet sounds like bang on your target market, as you say, so as and when you've got some budget come talk to us Smile.

Re mentioning it - it's fine if it comes naturally in the conversation - we'd not worry about that. Spamming and signatures is another matter.

MNHQ

JustineMumsnet · 17/10/2013 20:19

@Yiska

Hi, I'm in the process of putting together a business plan to try to secure investment but it feels like a bit of a Catch 22 situation. No one wants to invest before I've got a product that has a track record and I can't launch the product without any investment! Have you any advice on getting over that first hurdle and convincing someone to invest in what I think will be a fantastically brilliant product Wink TIA

Hi Yiska,
As someone who singularly failed to raise any investment, I'm probably the wrong person to advise... but I do think I had a very poor business plan based on pretty much thin air (and then the market collapsed) so I would advise putting a lot of effort into a 3-5 year plan and making very realistic assumptions based on solid research. Find similar businesses and look at how they've grown revenues and profits. Basically make sure you can justify every number in your plan. You might end up being wrong but you'll sound convincing. Good luck!

MNHQ

JustineMumsnet · 17/10/2013 20:26

@farrowandbawl

Thank you

Right, try again.

When you first started up, what was the thing that helped you the most? What is that you know now that you wish you knew then to make things easier for yourself?

A friend of mine has a great idea for a business and it's starting to take off already, but she's scared and I am too for her and we both know this can be big nad long lasting if we do it right.

Well, it's a wee bit cheesy this, but truly the Mumsnetters were really helpful from launch onwards. There weren't so many back then but as now they were very forthcoming with feedback, suggestions and genuine support (in the early days they sent us money to keep going!)

I also think what helped was having a clear vision of what it was I wanted to build. I really believe that by allowing folks to pool knowledge it could help make parents' lives easier and over the years everything we've done has been seen through that prism. Is it useful, will it make parents' lives easier. If not we don't do it. It's very helpful to know what your purpose is when you're deciding what to do, and just as importantly what not to do.

MNHQ

JustineMumsnet · 17/10/2013 20:30

@nobutreally

Hi :-) I'm SE/running my own business for over 9 years (B2B/consultancy area) and currently looking to partner up with a couple of long term mate/partners to set up more of a real brand/identity

What would be your advice ito what business format to look at (we're thinking informal partnership - but people keep trying to push us towards Ltd Company); and what do you think are the advantages & disadvantages of going into business with people you like....

TIA

Working with friends is a great idea - you do after all spend a lot of time working - especially if it's your own business. Make sure to be very clear about structure and responsibilities and to keep communicating - build regular get it off your chest sessions in to your plans - as people's motivations and ambitions can change and you want to stay friends!

Am sure Dan will have some good advice about business format...

MNHQ

JustineMumsnet · 17/10/2013 20:42

@ReLIKEAbbe

Hello Our two year old start-up business www.relike.co.uk is a website for parents to buy and offload their children's good condition outgrown clothes in bundles, in return for vouchers and a high feelgood factor (we give to charity when a bundle sells, they get credits and make another mum's day). It is social enterprise with the mission of encouraging reuse rather than recycling or worse. Our collaborative consumption model is unfamiliar and new in the UK, but it is scalable and solid.

My big question is: who do we talk to within large retailers (for cross promotion purposes) or logistics companies to discuss collaborations and forge new business relationships? So often it seems sales people are reticent or unsuitable, whilst getting hold of the CEO is unrealistic. Who in between - and what roles, department names, should we be seeking out?

Thank you very much for your time and insights!
Abbe

Fab idea! You might want to try the corporate responsibility or communications bods. Search for companies that talk about sustainability/reduction of waste as part of their mission statement or core values. They might see collaboration as a social responsibility and want to work with you accordingly.

MNHQ

JustineMumsnet · 17/10/2013 20:50

@RubyRR

In the process of developing a hobby into a business as it has grown and is taking up more and more time. We have had several questions re advertising on the website, how do we price this?

I'd say the simplest thing initially is to go for a set price for a set format. Whether it's an advertorial or display advertising - take a look at Mumsnet local - the advertise your business here button on right hand side by way of example. Try to automate it as much as possible and vary the price according to supply and demand.
When you get bigger you will probably move to a more stats driven model - sites like Mumsnet will price ads according to page views (CPMs or cost per thousand views) - the going rate is anywhere from £5-50 per 1000 depending on ad format, targeting etc.

MNHQ

JustineMumsnet · 17/10/2013 20:53

@GNICHOLLS

Hi,

Quick question:
I run a website that is getting approx 3000 Unique hits a day, I have google adsense but was wondering how I go about getting private advertisers to advertise there brands on my website?

See my answer to RubyRR below/above, depending on your customised settings. Also you could create a page saying "how to advertise with us and why you should" and run your own ads directing folks to that page.

MNHQ

JustineMumsnet · 17/10/2013 20:58

@Adair

Hi all, InMySpareTime and the poster who talked about pricing yourself, I agree that it can be really hard to say I want £xxx per hour without feeling guilty (is this a -conditioned- female thing?). I am learning to have high value/charges on my time and then reduce/offering freebies for those who are deserving!

Which leads on to my next question for Justine... Not sure about you but
I kind of want to do everything! I see opportunities for pop-up shops and think I could do that! Or opportunities for classes for little ones, or adults classes (I run drama classes for kids in Walthamstow). Do you have a strategy for deciding which avenues to say YES to? And do you regret any of these avenues you said yes to (or no!)?

It's a very good question and one I wrestle with all the time tbh. There's so much we could do! But I'd say one of the things I've learned with regard to digital products is that you can't just develop something and move onto the next thing. Developing it and releasing it is just the first stage. You need to hone and refine and keep refreshing it. It's better to do a few things really well than lots of stuff mediocrely (is that even a word Hmm). So focus on what's unique about this idea, why can I do it better than anyone else and am I prepared to keep working on it. If it passes all those tests it's probably worth doing, but don't spread yourself too thin!

MNHQ

JustineMumsnet · 17/10/2013 21:07

@giveamonkeys

Do you think CSR/charitable engagement could/should play a part in founding a biz?

Interesting question. When I think back to pretty much the first half of MN's existence we just didn't have the cash or bandwidth to do anything other than soldier on. But admittedly we didn't really earn enough to pay ourselves for about 6 years and that felt like our charitable contribution! When I started looking at how MN could formerly incorporate fundraising into what we do - a foundation type thing - I found it pretty darn complicated involving forming a trust and having trustees etc. (So we've decided to have an annual match funded giving week instead - starting next spring.)

If someone could come up with a simple solution to corporate giving - I'm thinking you incorporate with companies house and you can elect to give element of profits to charity as part of a govn scheme with no complicated legals or tax stuff involved then that would be ace.

MNHQ

JustineMumsnet · 17/10/2013 21:12

@LovesBeingOnHoliday

I want to start a business but just don't know what in, needs to be something I can fit around work and probay Internet based but how do I find something that's not already overdone.

I think it's really important to fill a need - the best businesses are ones that identify a problem and solve it for people. It helps if you're interested/passionate about the product/solution too, as it's not always plain sailing and in tough times what keeps you going is believing in what you are doing, irrespective of whether it's going to make you a fortune or not.

Hope that helps and best of luck!

MNHQ

JustineMumsnet · 17/10/2013 21:17

I think we're done now. Blimey, it's exhausting being on the other side! Thanks for brilliant questions and to Dan and Chris for joining us.

Do check out our starting a business pages put together by the folks at Barclays - there's some useful stuff there.

And very best of luck to everyone - sounds like there are some fab nascent businesses out there.

MNHQ

RachelMumsnet · 17/10/2013 21:21

Thanks everyone for a really interesting and informative webchat. We'll be archiving this so the Qs are together with the As and will link to the archived webchat from this thread early next week. You can check out Barclay's Online Business Fortnight for more information and tips.

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