Enterprise Lecture
How not to fail
14.03.11

Top 5 reasons businesses fail:

Failure to adapt to a changing market: 
-keep up
-be informed
-understand changes in competitors
-understand your macro and micro environments
-PEST & SWOT analysis

NESTA
- can look at the creative economy
- can look at where your competition is

DESIGN WEEK MAGAZINE
- jobs
-exhibitions

Failure to continuously market yourself: 

Intergrity

Creative

Cultural awareness

Proffessional Skills

Organisation

Be Yourself!

Inadequate accounting records & disregarding or misinterpreting financial records

Business Plan: 

1. Describe you product or service

Features & Benefits - who is it benefitting & how

Target Customer

Skills & Capabilities

Legal Status

2. What resources will you need?

3.Why will people buy from you?

Look at competitors/other examples & what is already going on

What are their strengths and weaknesses?

4. Do a marketing plan.

Three methods

Explain why the will be effective.

5. How much will it cost? 

Start up

Overheads

Direct Costs (materials etc)