a question i often get asked is "is there investment out there ?" - yes there is, there is also interest in strong new start-up businesses - you need to get yourself into the position to go engage with the potential investors to attract this investment - key pre reqs are strong business plan, team, some early validation from customers, partners etc.
A related question is when are the banks going to lend to small and start-up businesses ?
When it comes down to it is the business plan thing single most important aspect of any start-up?
i have seen recent evidence of banks supporting start-up companies but only in those cases where the start-up company is extremely well-organised in terms of a business plan, their team, support from state agencies, strong mentor etc.
one key area of start-ups is the founders learning fast how to sell properly - sales is the lifeblood of any business and particularly so for start-ups - for various cultural reasons, we haven't had a great attitude to sales and this needs to change to help drive a far larger wave of startups
My definition of sales is "placing value in the hands of a customer at a price they are happy to pay, but at which you ultimately will be profitable" - I was an engineer and learned this the hard way !
Kieran If we were to sum up your advice in five quick steps, what would they be?
I am genuinely encouraged by the level of start-up activity out there at present, we need to grow this further but despite the current recession, i still passionately believe we have the talent and work-ethic as a country to dig ourselves out and this needs to happen locally from the smallest 2-person micro business to a high-potential start up selling internationally
I'd like to thank everybody for their participation in this blog, in particular Kieran Moynihan.