New topic - Make It Your Business

[KateMumsnet]

Hello hello,

Welcome to our new topic. We’ve teamed up with the folks at Make It Your Business, who have just launched, and who aim to help women who want to start their own business. It’s a non-commercial partnership between Mumsnet and Make It Your Business - we’re giving MIYB members a forum to chat with others who are keen to go it alone, and they’re letting their members know that Mumsnet is a great place to exchange ideas.

Make It Your Business offers women who are looking to set up their own business information, advice, inspiration and a chance to network. They put on events around the UK, and offer videos, blogs and a monthly newsletter for those who register (it’s free to do so). It’s founded by entrepreneur Alison Cork.

Alison and her team will be posting in this topic from time to time to give you a heads up on events or news you might be interested in, or to answer your questions - they’ll go by the names AlisonMakeItYourBusiness and SophieMakeItYourBusiness.

Most importantly, we hope that those of you who are thinking about going it alone and are looking for some support and companionship along the way find this new topic really helpful.

Thanks
MNHQ

@TuppennyButterquim The site looks absolutely stunning, well done. I agree with @MyEffingkids you're products are made for a visual social media campaigns, which will definitely drive traffic to your site. Could you send samples to Instagrammers who specialise in your audience? It's a great way of validating your product.

What about the PR angle? Given you have a pretty targeted audience (affluent parents to small children) you could contact a number of targeted publications and tell them your story/ the story of your products/ any hook you can think of.

If you are not convinced social media marketing, or online marketing, is the best route for you, are you sure being an online retailer is? What about pitching your product to Harrods/Liberties/any of the luxury retailers? Even if it just gives you some confidence/validation for your online business.

Basically - you are creating a lovely product and through diligent research you know there is a market for it. Until you showing people what you have to offer, they can't buy it off you. You have some solid marketing material already, and your product is easily understood, so just start marketing and if you find it's not working straight away, try another tactic. In time your products will sell.

Good luck hun, Nicer Things looks like it's got huge potential. When I have kids I'll be looking for you ;)

Hi @Maja123, it's a personal choice and there are pros and cons to both options. Personally, I'd say it's best to start out working for an agency, while you establishing how to balance the work with your family. It basically means you won't have to worry about all the other bits of the business like marketing yourself, setting up contracts, insurance, etc. You can just focus on doing the work. However, if you want more control about your working hours and style etc, go freelance. Getting clients can be a drag, but once you've got them you'll probably make more money per hour that way :)

Thank you @katrinasale for your encouragement. I know I just need to put myself out there otherwise nothing is going to happen. Some of the products I will be selling are sold by Liberty already. The ideas about contacting instagrammers and publications are excellent. I'm on it! I'll let you know how it goes

@AlisonMakeItYourBusiness will you have any of your events in Bristol?

TupennyButterQuim, I love your site! Great products.

We have just launched www.thetruthbrush.com The beautiful bamboo toothbrush. It has taken nearly 2 years for 2 of us to develop this brush and the brand. So far its going well but we need to advertise online. Does anyone have any hints on whether to go for adwords or FB?

@daisychicken yes we shall be having one in Bristol later in the year, and we have two events, in Reading and Torquay, between now and June. You can get a free ticket to attend by signing up to MIYB (which is also free) at www.makeityourbusiness.co.uk

@AlisonMakeItYourBusiness - thanks, I will keep an eye on your website.

Advertising information would be much appreciated for me! Has anyone had success with Facebook ads? I sell workshops in quite a niche market and am building my followers but would like to target local people somehow.

My friend and I have decided to look into starting our own business which will be a imaginative/role play centre for children up to the age of 7/8. So a massive space which would be filled with role play toys such as mock supermarket, fire station, police station, hair dressers, vets, doctors, nursey etc.
Just wondering if you had any advice?

watching with interest!

I want to start my own design business but I need to buy a new computer - should I purchase now personally and crack on with building a web presence or should I wait until I have registered with the tax man with a view to claiming back the costs.. is this even possible? I guess i'm talking about pre-trading expenses - any advice on this?

@LifeinColour register first and then purchase so you'll be able to claim back on your expenses.

My apologies @LifeinColour, my message was meant for @roline83.

@roline83 Hiya! Do you have any specific questions? That way, some of us might have a better idea of what you're looking for. Make It Your Business is also hosting an event in London this 13th of April. There will be 2 entrepreneurs who work in retail who would be keen to discuss with you your business idea. www.eventbrite.com/e/make-it-your-business-when-to-leave-a-job-to-pursue-entrepreneurship-tickets-43194435720?aff=es2

Just started my own limited comparably will be following MIYB for some marketing ideas!

Company even! 🤦🏽‍♀️

@Ruleof4 - please do - it is completely free to join - go to the url www.makeityourbusiness.co.uk/join-us-free - and we have events all over the UK (just look in the calender). Best of luck!

Hi to @katrinasale, @myeffingkids and anyone else who's interested!
I just thought I would let you know where I am up to with my business.
Well, since I last posted I have changed the name of the company and the website - I changed the name to Yoyo and Flo and the website is www.yoyoandflo.com/
It's a long story but my old name was too generic and I had a load of trouble with it on facebook so it was just easier to start afresh. And I think this site and branding looks better too. The site is now up and running.
We were talking about ways of marketing the business before and I wasn't sure how to go about it. I have set a page up on Facebook using their business manager and linked it to Instagram so I can do shoppable products. This was no mean feat, I can tell you. I could write a book about all the problems I encountered with facebook. But it seems to be working nicely now. Also on the subject of marketing, Tatler magazine contacted me - trying to get me to advertise with them . I was flattered that they thought I was worthy - but it was far too expensive. So my strategy is to start with some Facebook ads and possibly some Instagram ads too, then I will look into Google shopping.
I'll let you know how it goes. Hope everyone else is getting on OK.

@TuppennyButterquim (I was effing!) I’ve just looked at Yoyo, it looks great. I’ve also followed you (& any others above with links) on Twitter & Facebook. I’m www.teethbox.co.uk & www.schoolfundraisinguk.co.uk
There’s a FB group called ‘FB ads for success’, which I am not affiliated to, but it’s good for tips on Business & Ad manager.
Now I need to find groups for Twitter & Insta. I gave up on Pinterest, but it’s probably good for your biz. 👍

I am planning to host a pop-up event as a part of my pre-launch strategy. I would really appreciate any advice on this topic!

Have a great weekend x

Hello
I saw your message back in February and wondered if you'd had a reply? If not, this would be my approach:

1. If you're able to, do a monthly forecast estimating what your income and expenditure will look like over the coming 6 months.
2. Take a look at the income and establish what is recurring and what isn't.
3. Flex the forecast to show only the recurring income.
4. Now look at this and take off your monthly costs.
5. If you're in the red after taking off your costs, you know what, on a cumulative basis, you should keep back and save out of your non-recurring revenue.

I'd recommend 6 months. If can take you this long, in a worst case scenario to change your business, or find a job that will overcome the deficit.

On a practical level, if you have a limited company.

• Pay yourself around £702 per month out of PAYE
• Pay the rest in dividends (remember you get £2,000 tax free from dividends - 2018 rules)

And yes, always put money by for tax.

Also, always try to save some money - I try and put by 25% of my income each month if I can - into a deposit account and forget about it. Then, after 6 months, you'll be surprised by how much this builds up. At 6 months, I take out 50% and treat myself / family / friends with something special.

Hope this helps

Matthew

Set up your business - won't take long.

If you register for VAT, you can claim back the VAT.

But be careful. Ensure that your customers are also registered for VAT. If they're not, you'll look expensive compared to someone who isn't.

Hope this helps.

Matthew

My business has taken off and I am wondering if it's safe to give up my part time job

Hard to know @Kitty63 ! Tell us about it, what the business is, what profit (not revenue) it makes, and the income/dividend you pay yourself. Could you live on that when you consider your personal budget?

Hi I wonder if you could give me some advice about the best (most cost effective) way to advertise locally - v limited budget?