Starting and running a digital business
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Running an online business what you need to know
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Hints and tips about getting started as an entrepreneur with a brand new online startup business - what to consider, types of business model, what's important and what isn't
Transcript of Starting and running a digital business
Running an online business what you need to know
A bit about Learning Pool …
A bit about Learning Pool …
• Started trading in Derry in 2006• Provides an e-learning platform and content services • Has been an online business since Day 1• The team is dispersed across the UK & Ireland• 99% of revenue generated outside Northern Ireland• Now employs over 60 people and will turn over £5m this
year
What’s contributed to Learning Pool’s success• We had 2 co-founders to share the burden• We work hard – there’s no getting away from that!• We hire great people – in the main• We’re resilient and we have a culture of everyone trying to
learn fast• We’ve made clever use of the internet and online marketing• Other people in our network have helped us when we’ve
needed it
Top Rules when building an online business• Know your audience• Test the market thoroughly at the outset• Get your business model right and be ready to pivot• Have a kickass website as your shop window to the world• Get key customers early and use them to maximum effect
Top Rules when building an online business• Use SEO properly• Make it easy for your customers to buy• Get the technology right!• Commission your sales people or affiliates well• Think big – the internet is global• Watch your numbers carefully and be honest with
yourselves• Enter awards only if appropriate
My own tips if you’re just starting out
• Choose the type of business carefully – they all have their own shapes• Learn to sell if you can’t already• Focus on generating revenue and early profitability• Don’t put in too much process until you need it• Get a good accountant and manage your bank and cash
well• Be informed and keep learning – the new world moves fast• Ask for help when you need it
My own tips if you’re just starting out
• Don’t be afraid of technology• Network like mad• Remember there’s a big island next door• Never forget it’s all about people• Don’t burden your team unnecessarily• Keep healthy, help others and be humble!
What’s next for me
• Heading up a social innovation project for a national charity• Building my non executive portfolio• Balancing my paid and pro bono work for maximum job
satisfaction
• Email address [email protected]• Read my blog at www.kickingassets.co.uk
• Connect with me on Twitter at @MMaryMcKenna
