Showing posts with label setting up a business. Show all posts
Showing posts with label setting up a business. Show all posts

Monday, 19 August 2013

Big Changes: From City Lawyer to Owner of an online magazine!



As part of our continuing series on people who have made inspirational big changes in their working lives, quittingthe9to5 interviewed Leyla Preston. Leyla is the owner and Editor of Motherhood Diaries Global Magazine for Parents. Leyla is a busy mother of two even busier boys; Aron, 2 ½ years, and Aidan, 16 months. When Leyla isn't feeding, changing nappies or cleaning the infinite mess at home, she is busy working on her magazine, and her law consultancy, L Law Consultancy  – no rest for the wicked! 



What were you doing before you set up www.motherhooddiaries.com?

I was working towards my law career right before I found out I was pregnant with my eldest son. My pregnancy was the perfect excuse to quit my job at a City law firm because I hated how competitive and corporate it was, and I probably would have never seen my children if I had gone back to my old job.

What were the circumstances that led you to make the jump to running your own business?

I found out I was pregnant, which was a huge surprise as my husband and I were not planning a family at all. We were both at the height of our careers. I had already decided that if I were to get pregnant, I would quit my job, and I have always wanted to own a successful business. So I thought, rather than thinking about it, just do it! I set up a blog of my son’s pregnancy in the last months of my employment and a Law Consultancy to keep my feet in the legal industry. The blog grew through recommendations from my friends and family. I took some time off from the Law Consultancy and finally launched the magazine in May 2013, two years after I set up my blog.

What has been the hardest thing for you to overcome in order to launch the business?

The biggest constraint by far has been time. Managing two boys under three and a new business requires efficiency and enough time to work on both without neglecting the other.  But because my boys come first, I only end up getting about two hours in the day to work on my business, and that sometimes means two hours spread throughout the day! Doesn't help speed the process of growing my business along…

What has been the best piece of advice you have received?

Don’t lose your drive and ambition to succeed. Keep your goals clear and keep working, one step at a time. You will get there, whether you are slower or quicker than everyone else, you have obstacles to face, or you don’t have enough time. Stay focused.

If you could do it all again what would you change?

Hindsight is a wonderful thing and rather than setting up my blog, I would have gone straight into creating my magazine with all the knowledge and experience I have now. It would also mean that I would be two years ahead in my business plan. Having said that, I wouldn't have made all of the mistakes and learned valuable lessons from them if I hadn't had those two years to find myself and my business.

Did you have to source finance for your venture or did you use savings?

I used the last three months of my employment salary to start my blog and buy the host and domain. I had very little start up overheads, having expenses only in my domain and host server. But I set up a Law Consultancy in January 2012 and that has funded my magazine to date.

How did the idea for the business come to you?

When I found out I was pregnant in March 2010, the mummy blogging world was still relatively unknown. I searched high and low on the internet for a personal weekly pregnancy blog and found Emma’s Diary, a pretty large corporate site with a small weekly blog of Emma’s pregnancy. I liked the personal connection I felt with her stories and wanted to set up something similar to this. A lot of mums and mums-to-be then started asking me what I ate during my pregnancy, how did I keep healthy and where were the best places to buys maternity clothes, to name a few. So I converted my blog into a website full of information I found during my pregnancy. I then had my babies and documented their birth stories on the website. Mums then started contacting me with their birth stories and I published them. I started to think about what happened beyond birth and readers sent in their stories and recommendations. I've always wanted to own a printed magazine, so I fused the two ideas together and started up an online magazine instead!

How long was the set up process before the business launched and what did it involve?

The process took a lot longer than it should have taken, mostly because I employed website designers who took 8 months to design and build the site, and then they ran off with my money! So I lost 8 months and in that time I had created a lot of pre-launch buzz and the buzz was starting to wear off. I employed new website designers and they finished the site in 3 months. I took a few months to sort out the content and the layout and then sent out a press release to all the major PR companies and parenting sites to alert them of the new magazine. I utilise social networking sites well and have affiliated social media sites in Facebook, Twitter, Google+, LinkedIn and Pinterest. The key is to market, market, market and network, network, network! I also created business cards to hand out to people I believe would be interested in the magazine and I plan to design some flyers to hand out to people on the street. I have started networking a lot more now as a lot of small business owners don’t realise how valuable networking is to promote your business.

Have you had any extra training to help you with the business or did you use skills that you already possessed?

I have always wanted to start my own business, so I read a lot about business and how to set up one from newspapers and magazines, offline and online. I have never had any formal training, I just learn from reading about successful business owner’s successes and mistakes. I think the key is to keep an open mind and take in the information that makes sense to you. As mine is a purely online business, I learned a lot from reading and studying online websites related to my field. And, don’t be afraid to contact your competitors and ask for advice! They might say no, but there will be the odd one that will be happy to help. Even better, contact successful business owners. I contacted Nick Hewer from The Apprentice and he responded with fantastic advice! He said, ‘Don’t worry about monetisation right now, build your reputation, credibility and excellent content and monetisation will come naturally’.

Thank you so much Leyla! If anyone wants to find out more about your business how can they contact you or see the magazine?

You can follow me on Twitter (@M_Diaries) or join the busy Motherhood Diaries Facebook group where all mums get together and share stories and solutions with one another: https://www.facebook.com//groups/motherhooddiaries/
If you want to see my law consultancy website it's (www.llawconsultancy.co.uk)
Feel free to email me at leyla@motherhooddiaries.com for more information and very best of luck with your business!  Thank you!!!

Thanks again Leyla! Some great information for everyone to digest and hopefully get useful tips from! What did you think of Leyla's story? Do you have one of your own to share? Did Leyla inspire you to do something different? Let us know!

Love Nova xxx

Monday, 10 June 2013

Get a Grant and Get Going!


Are you looking for a way to inject cash into your business? Are you starting up and need some funding to get off the ground? Are you looking to grow your business, employ more people or add a new arm to your current business?

I have scoured the internet for the best grants and schemes to help you move forward with your business. They have been organised into the areas of the country that they cover and are all general grants (rather than specific to certain industries) If you would like an industry specific list let me know and I will cover this in a future post. Have a look at the links and see what help there is out there for launching and building your quitting the 9 to 5 dream!


Northeast

Northwest


East of England
East Midlands

South East

Southwest


West Midlands
Northern Ireland


General



Do you know of any other really good sources of grant funding? Have you had a grant and can share your experience with others? Comment below and share your thoughts and experiences...


Love Nova xxx


Wednesday, 22 May 2013

Top 3 Things to Avoid when Starting up a Business.



These are the 3 things that I would recommend for any new business. These are all from experience, not only my own experience but the experience of the many small businesses I have helped over the years. Take heed...!

1. Don't spend loads of money on 'stuff' for the business

Although one of the most exciting things about setting up a business is buying all the new 'stuff' you 'absolutely' need (believe me I find buying stationary extraordinarily exciting, I have every kind of post-it you can imagine...but then I do need them *ahem*), chances are you don't really need it and what you are actually doing is throwing away the money you need to be building the business. Trust me when I say that although you are sure that your website must be a very professional, top end looking one from the start, it honestly doesn't. You may want the bespoke business cards with a logo that you have had designed, but actually vistaprint will do fine when you start out, they are cheap, they look great and you may find that you need to alter your details slightly as time goes on and you don't want to keep paying to replace them if they are super expensive.

Remember that right now you are just starting out, people get that, they understand, we are in a recession, people may even prefer that you are not presenting yourself as the most expensive looking option out there. People buy into YOU, they want to like you, trust you, feel like you understand them - they won't buy with you or not buy with you on the strength of your business card - all of the smart stuff can come when you are making good money, right now you just need customers.

One thing you can spend some money on is a new outfit...to make you feel really confident and reflect the new you...it can be a cheap new outfit, or even from a charity shop (I loooove a charity shop bargain!) but if you want to make a good first impression then treat yourself to this and leave your personalised post-its at home (why would you want to use them anyway, they are just so yummy to look at, don't use them for anything they'll get ruined!)

2. If you can, don't get a loan to start-up or use your credit cards.

This varies according to what business you are starting of course but the amount of times I wrote a business plan for someone that 'needed' a huge business loan or a big injection of capital because they wanted to 'start big' always bothered me. How do you know its going to work? Yes it won't be your money you have lost but if you have lost your business then it can be a long crawl to get back to just standing still again. If you can start smaller but on less borrowed money then DO IT! I borrowed money for the magazine I decided to start for new mums, initially I thought I would just do a newsletter type thing that I would deliver around the local area myself, it would be printed on my computer and it would serve the purpose I wanted it to of telling mums what was going on locally and where they could go to meet up with other mums. However...as the idea grew and grew I decided that I should just go big NOW, why wait? Why not just spend my cash and borrow from my credit card and make it glossy and have a massive distribution and and and...?? Why not? It had outgrown me before I had even started that's why. I should have started smaller, I was seduced by the idea of making it more than it needed to be because that was more glamorous than saying I write a newsletter...what a nutter. The magazine was actually quite successful for a while, I had good feedback, won some money for it, went on the radio a bit, had a high old time meeting people and interviewing people...but the fact was it was too big for me, I hadn't learnt my trade. Another magazine launched with the same demographic in the same area and blew me out of the water, I was left with the debts and no glossy magazine.

Start small, start cheap, learn your trade.

3. Panicking 

So you've done all the exciting bits, you have your idea, your plan, your business cards, you have been meeting people, marketing yourself, all the right things...but nothing is happening. You start to slowly wonder if you need to panic, whether you should have given up your job, whether you will be able to pay the bills this month, whether it will ever work. These thoughts go round and round in your head until you can no longer see the wood for the trees and start slashing your prices and adding additional services or products in the hope that at least one thing will work. I've been there, I've done that. It 'ain't pretty, don't do it!! One thing I learnt early on is that specialising is a great thing, trying to be all things to all people is not. Panicking will lead to all kinds of trouble. If you find yourself here, which most people will, at least once (maybe loads of times) just remind yourself that this is perfectly normal. Yes its horrendous when you don't know if you have enough to cover the basic costs of life, it can be almost impossible not to panic, but the second you do you have lost all creative thinking capacity and right now you need that more than ever before. There is a way around or out of it but you have to be in the right frame of mind to see it and find the answers.

What are your top tips of things to avoid?

Love Nova xxx