Brothers Mike (25) and Tom Ashworth (27) created NuBlue Web Solutions, a web design business, in 2005. Mike graduated in 2005 (BA Film Production), Tom in 2003 (BA 3D Animation). Less than four years on, they now run a well-established web agency with clients across the world and employ ten members of staff. The NHS and Toni&Guy are amongst their client list. However, like many business start-up stories it hasnt been plain sailing as Mike explains. Once wed drafted our business plan, we looked at several commercial premises and decided to base ourselves within a business incubation centre (see UK Business Incubation (UKBI)) at Lancaster University with the aid of a small loan from our family. We needed premises as we wanted to give a professional appearance from the day one, so we needed a smart and dedicated place of work to meet our prospective clients and customers. We took the rather optimistic view that
if we build it, they will come. It quickly became apparent that this would not be the case and we had to start concentrating on who would be interested in our product and where would we find them. The biggest pressure at the start was cashflow. A substantial debt from university and owing money to someone really made it all suddenly feel very real. I was working three nights a week in a local video-rental store and then at least 60 hours (including weekends) developing and trying to run the business. In the first year we turned over £17,000 but after paying rent and running costs we were living on as little as £100 month each. Our business cards may have read Managing Director but beans on toast was frequently the only thing on the menu. Being my own boss was always one of the main attractions of being self-employed, but my previous bosses had been replaced by several new bosses, i.e. customers who each had deadlines and demand on my time. Initially we both did everything ourselves but as we began to grow, we developed our own roles.
What are the best aspects of working for yourself?A feeling of accomplishment and self-worth. There is a real sense of pride now that we have achieved what we originally set out to do.
Less attractive aspects of self-employment?Getting our first client was really stressful and there was a six-week gap between attracting the first and second clients. Being a relatively young business owner, its also frustrating sometimes as potential clients may not take you seriously because of your age (especially at the beginning when you have no trading history). Also, I didnt take a holiday in the first two years. Its still difficult to relax away from work as theres a fear that it wont be here when I return.
What have been the key turning points during the last four years?The realisation that customers wouldnt simply come knocking on the door and that wed have to work harder than we ever had before just to attract clients. Attending business networks (see Business Network International): this really provided our first taste of how small businesses operate and gave us our first leads and clients. Employing staff: At the end of year one, we could barely support ourselves. Now were responsible for the livelihood of others and the source of income for their next holiday!
What have you learnt that you would pass on to others?Get one or two years work experience before taking the leap. Learn from other peoples mistakes instead of making them yourself. Definitely get your ideas down on paper in the form of a business plan and be as detailed as you can about your intentions and needs. Go to business networking events to learn from others, develop contacts and meet potential clients. Finally, make use of the numerous business support agencies and subsidised resources out there. Being short of money is really stressful in the first few years so you dont want to be spending money needlessly.
|