We held our November event last night at IndigoBlue’s
wonderful offices in Little Portland Street. We’d like to say a big thank you
to our host for an engaging and vibrant event in such a lovely setting. Thanks also to all our guests.
Topic: Commercial viability.
After a year’s trading, the entrepreneur in our hot seat
wanted to review their business. This complex topic involved a tension between
a social mission and commercial viability in the future. The discussion was
focused on three main themes: identifying your client base, exploring your
motivation and re-articulating the remit of your business.
Questions raised by the group helped to clarify our
hot seat’s thinking: Can a limited company also be a social enterprise? Is it
better to stick to the market you know and understand when other markets might
be more accessible? Do you want to make a living or do you want to change the
world?
Key
insights included:
- Identify the fear and value factors – what do
clients stand to lose by not hiring you? What will they gain if they do?
- Consider broadening your remit and expanding your
target market(s).
- Define what you want to achieve and why, at the
most basic level, then build up from there.
- Work with what you have.
- You can’t do everything. Identify your target market and focus on that
market – nothing else!
If you would like to take part in a similar
discussion or have an issue you would like to talk about, please join us at a
future event or volunteer to be in the hot seat yourself. Please leave a
comment below if you have any insights into this month’s topic!
Next
Event!
Our final event of the year
will be at Devereux Chambers on 14th
December. If you can’t make that
date our schedule for 2017 is already up
on the website so take a look.
Please comment below with your ideas and advice for our entrepreneur. We always love to hear from you!
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