Welcome back to Self Employed Mum. Thanks for visiting!

Firstly, this post is not a free pass for sneaky tactics! But nor should you miss this step out from your planning because it feels a bit, well, grubby…

If you’re going into buisness then you need to understand your competition. You need to know what their strengths are and you need to be laser targeting their weaknesses. The only way you will be able to do this is if you have done some competitor research.

You need to do competitor research to understand:

• What markets or market segments your competitors serve
• What benefits your competition offers
• Why their customers buy from them

And as much as possible about their products or services, their pricing, and promotion (or marketing) tactics.

An easy way to start is go online and research the top 10-15 companies listed on google for your top keyword.

• Note down what products the websites sell,
• Which stockists do they use?
• Their pricing strategy – are they aimed at the luxury market or the lower end?
• Make notes on their website’s usability – can you move around easily or is their website confusing?
• Place some orders and see what their customer service is like.
• Look for any online articles or press releases (google for more information)

If they are Limited Companies you can actually have a good old nosy of their accounts which are downloadable for a a few quid over at the Companies House website. This may give you an idea of what a realistic turnover may be. Also make a note of what trade shows (if any) they attend or exhibit at during the year.

Make sure you are noting all this information down – I use a notebook for research as well as a spreadsheet. Sometimes I’ll have a thought and need to quickly note it down before I forget. A mind map is another useful research tool.

From your competitor research you should try to identify your own market niche and your competitive advantage. Something that your competitors aren’t doing that you can do or some way to improve (and better) what your competitors currently offer. For example, for children’s parties, I might notice that few businesses offer “all-in-one parties in-a-box” type of services. I would note that down and do further research to discover whether this is a product that customers may wish to buy.

Competitor research is a vital part of planning your new business. Always think “What can I do better?” and “what can I offer that the competition don’t?”

photo credit: foxypar4

In my last post I decide to use the example of starting up an online business connected with children’s parties to illustrate the “First Steps… In Online Retail” series.

This post looks in more detail at imho one of the most important business building blocks – market research.

My definition of market research probably won’t pass muster with any “proper” researchers, but here are some ways which have worked for me…

Business Libraries: The Mecca of business libraries is probably the City library in London. When setting up one of my businesses I actually made the journey from ‘Up North” to “Down South” three times to use the facilities here. I’ve also used the Manchester Business Library too which is v good. There is usually a business library in most big cities and often at Universities which you may be able to access. Use the information in a business library to research the sector and the market. Start by asking the Librarians – they’ll know where all the info is…

Research reports to look out for: Keynote, Mori and NOP… Also ask the librarians if they know of any BOPs (Business Opportunity Profiles) which might be related. Don’t discount any research that isn’t bang on as you may uncover related nuggets of info that adds to your knowledge.

Trade Magazines: Business libraries usually carry these, including the more obscure ones. If not, then it’s quite easy to sign up (often free) for ones which can give you new and up to date perspectives on the marketplace. Not sure on any for the children’s party sector, so think laterally – gift sector ? (Gifts Today), toys? (Toys and Playthings)…

Online Newspaper Collections: Use these to search for related news stories – I picked up an item on the cost of children’s parties for example and how much parent’s will spend… Also see if any of your competitors have had coverage in the press and what it was for.

Local Business Link - they may have information you can access for free – for related research concerned with business topics then the business link website is worth a good rummage.

Trade Shows - these can be great sources of both information and inspiration!

The Long List…

From all of this research, make a long list of any potential business ideas you could look further into:
Eg for the children’s party sector

• General retail of party items
• Party Invitations
• Partyware
• Fancy Dress
• Party Bags – cheap, green, luxury, fairtrade ?
• Bouncy castle hire

Based on this research you should now have started to identify possible business opportunities and know if the sector is growing, the size of the market and who the main competitors are…

Asy yourself, “Is this a viable business sector for me?”

If the answer is “yes” then the next step is to analyse the competition!

photo credit: adactio

In the first of an occasional series, I’ll be sharing some of things I’ve learnt since becoming an online entrepreneur and answering the big question I see asked on forums and online noticeboards…

“I want to start an online business “selling stuff” – but I don’t know where to start!”

Firstly, you need to decide what you will sell and to whom.

I know that sounds obvious, but often peeps get a bit carried away with the idea of selling online and don’t stop to think about what exactly they will sell and who they will sell it to.

My advice would be to find a niche and target a specific market.

If you seriously want to make money online then finding a niche is not about selling something so unique only a few people will want to buy, it’s about selling things people want in sufficient numbers but offering a new spin or targeting a group of potential customers (your unique selling point – USP).

A word of warning too – don’t let “mummy vision” cloud your business ideas. Many new mums start great businesses when inspiration strikes after they give birth and discover a must-have baby product or invent something new and practical as a result of their experiences. However, some become one of the many sling makers/sellers, real nappy makers/sellers, etc etc and realise that once their child has outgrown that stage they’ve outgrown their enthusiasm for the product!

Think carefully about what your big idea is – is it something that motivates you, you feel enthusiastic about because of what it is rather than what stage you are in your life. Remember success doesn’t happen overnight. If you thought you may not make any money from your business to pay yourself a wage for a year, or even two! Would you still have the hots for it?

As an example for this series, let’s look at selling something connected to children’s parties.

The party business is fairly steady, parents do spend on their children’s parties when they may cut back elsewhere. If I was starting a business in this area I would gather some research to back this up (from a business library, Business Link etc), and find out as much information to test this idea before I committed myself.

In my next post I’ll be looking at how you can research your children’s party business idea quickly and painlessly…

photo credit: macieklew

Launching this new bizz has been a different kettle of fish to my other businesses.

For a start, I’ve had to get to grips with a whole new type of website software to help me deliver the customer experience I wanted. One of the biggest changes though has been on the testing side.

When you launch a new site it’s best practice to test out various areas before you unleash it onto the interweb e.g. payment processing…

However, my new business, the SEO Training Club, is a membership site. Customers pay a subscription to receive training and information available exclusively through my website. And having members means more opportunities for kinks and creases and people not using the site quite in the way I expected them to…

So, to make the launch process as smooth as possible, I decided to take a two tier approach to testing:

1. I invited a small group of mixed ability internet users to join the site as “beta-testers.” The advance party were people I knew and trusted to give an honest opinion (although kindly spoken!) Their advice was key when I formed my branding – one beta-tester, for example, not only disliked the original color scheme, but gave me such compelling reasons to change it based on his professional expertise, that I did have a turn around – even though it set me back about 3 weeks. This kind of feedback is gold dust for a new business.

2. I decided to do a “soft-launch” with a charter membership. A soft-launch is a way to gently unleash your business to potential customers giving you time to evaluate what works and what doesn’t work before you roll out the red carpet and blow up the balloons. By now, the beta-testers have uncovered any major issues – charter members are more about learning how members interact with the site. In return for being early-adopters, the charter members pay a much lower membership subscription.

If you’re putting together a new website then pre-testing is a helpful way to make the launch process easier. Here are a few tips:

• Test out any branding, logos etc preferably with people unconnected with your business – business forums are a good place to recruit a helping hand.
• Recruit some testers to navigate your site – in particular ensure the payment processing side works correctly.
• Use analytics software such as “google analytics” to keep an eye on visitor browsing patterns. Are there any weak areas?

So now, the testing period is almost complete, and the next step is to think carefully about launching the new business to the rest of the interweb… Watch this space…

photo credit: ATKR

I’ve just come off the ‘phone from having a conversation with someone about the organic baby clothes I manufacture.

The caller was actually on behalf of members of his family who want to start an online business retailing ethical children’s clothes. I’m assuming that he must be quite new to the business as he first wanted to visit me in person (until he discovered I don’t live in London anymore!) So far so good.

But then the conversation turned to “checking the quality” and he asked for a sample. Now, over the last couple of years I’ve had some requests (most peeps I have to say don’t ask for samples). But those that do are happy to pay trade prices for items.

When I was starting out I did give free samples – but you know what? No potential retailer who asked for a free sample ever placed an order! However, those that paid for samples always did.

In fact, I’m sad to report that there’s one self-employed mum at least out there who has asked others for freebies for her kids and then doesn’t place orders – I know this because it happened to me and some one else I know from the same online business network. There’s probably more out there who’ve encountered this too.

But what’s the answer?

As a manufacturer, the quality of my clothing, I believe, is proven in my certification and the fact that I am stocked across the UK and export internationally. I’m a small business and can’t afford to give away free items to people who haven’t actually even got a business set up yet!

As a retailer, in my other business, I don’t ask my suppliers for free items to “check the quality” – instead I visit them at trade shows if I’ve any concerns, but on the whole I retail items from established businesses (like my own!) And don’t have any quality issues.

So, am I missing something here? Do you send out free samples to potential customers?

Be interested to hear your feedback!

Loving these cool marble push pins from Etsy seller funkychickendesign.

Just the thing to brighten up the old cork pin board and inject a bit of retro style onto your message board.

Set of 9 marble push pins. Approximately 3/4″ round with a tack attached.

Price: $5.00, ships to the Uk from the US for $4.50

Have you got an idea for an online business but don’t know where to start? Then, join me as I write about my new bizz “journey” from start up idea to launch…

In an earlier post I talked about getting your big idea.  My idea came to me as a result of another business I run, a seo consultancy, which manages internet marketing for small businesses. I noticed a gap in the market and decided I could fill it.

Of course, it wasn’t quite that simple. Oh no! It’s all very well thinking you have a great business idea, but what happens if noone else (apart from your best friend) agrees? It’s all very well thinking ‘If you build it, he will come” (apologies to Kevin Costner) but I’d rather root my businesses firmly in reality

The answer is to do some research. If your idea fits into a pretty much mainstream area (such as setting up a baby shop) then you’ll be able to access market research through your local business link, or similar. If, however, like me, your idea is outside the box, then you’ll need to do your market research yourself.

Here’s how I did mine:

I identified my customer and found websites and forums where “my customer” hung out. I read their conversations and joined in and asked questions. From this I learnt that my idea was sound but I needed to have a clearer understanding of exactly what the customer wanted so that I could fulfil that need through my initial idea.

Next, I put together some questions for potential customers and used online survey company Survey Monkey to collect, store and analyse the data. I advertised the survey on forums and put together a small “bribe” (a freebie mini-guide) to encourage peeps to answer the questions.

Using this research I was able to plan the next stage of developing my idea….

photo credit: richard winchell

I was reading the Daily Mail a few weeks ago – (I make no excuses, it’s the best daily for “news values” – there are still some PR habits I can’t shake off!) and I came across an article on a new phenomenon “the mousewife.”Apparently “Britain’s mothers are turning into a nation of ‘mousewives’ – by using home computers to boost their household income during the recession.” The survey reported that the average mousewife “spends six hours and eight minutes a week on computer-based jobs in make-shift home offices.”

Personally, I was surprised it was only just over six hours a week! I spend longer than that on Facebook!

The article then went on to explain what these mousewives are doing – selling on Ebay, bookkeeping, reviewing events or products, setting up websites and typing etc.

It made me think how technology has made it so much easier for parents to set up their own small home businesses. These days, all you need is a computer, an internet connection, a printer and a good idea, and you’re off! You don’t need to leave your home, so many business ideas can be fitted around family commitments. And if you choose to sell online, then your shop is open 24/7.

If you’re looking for a cash boost, rather than a new job, then being a mousewife may be for you.

Some Mousewife opportunities:

• Ebay selling
• Online retail
• Bookkeeping
• Data-entry
• Web design
• Online Reviews
• Typing
• Ghostwriting information products

photo credit: William Hook

When I tell people I have my own business, I’m often asked how I thought of doing it, as the asker usually says “I’d love to do it, but I have no idea what I’d do.”

I think that there are lots of people who would be great at doing their own thing, because they have the right kind of attitude. I really believe that part of working for yourself is about having the right kind of personality. But other than that, there are definitely some common reasons behind business ideas.

Some mums set up shop because they choose to set up their own business to help them combine working and motherhood. I know someone who had a giftware company she set up so that she could finance being at home. The problem is that a business set up for lifestyle reasons can come unstuck when the owner realizes a real business is difficult to fit into school hours. This is what happened to my friend. She ended up spending so much time on the business that she felt she had no time for her children – she closed her business and returned to being a less stressed out and happier stay at home mum.

Other women have always had the urge to be an entrepreneur but never had the opportunity before parenthood to explore their dreams.

I’d always wanted to have my own business and during my maternity leave I finally had the time to think about what type and shape I’d like my business to become. I knew I wanted to do “it” but just didn’t know what “it” could be!

The hardest thing about starting up can often be the first step – getting the inspiration for your business in the first place.

If you’re thinking of starting up, but don’t know what to do, try asking yourself these questions…:

Question One: What do you need that doesn’t exist?

Sometimes, fabulous ideas are right in front of your nose.

Mums have a great knack in finding something that doesn’t exist, or does but needs improving. Witness the “Anyway up Cup”, the Baby Feed Wheel, the Wilkinet baby carrier…

We know that having a child changes your life but it may also you may aware of a whole new group of potential customers – other parents!

So, if you find yourself saying: ‘I wish someone made…’ make it happen and produce it yourself.

Question Two: What am I really passionate about?

Lots of people have hobbies and interests they are really enthused about. Try making a list of everything you enjoy, that excites or matters to you. Is there a business lurking in there?

What do you really love to do ? If you can turn something you love into your business, you might never feel like you’re working again.

Question Three: What skills do you already have?

Some women already have a skill and are able to turn it into a new freelance career. Marketing, PR, writing, web design are all careers which are flexible enough to enable working from home. Secretarial skills could find you work as a virtual assistant. Other mums take part of their previous career and develop it further. I know a mum who produced a musical instrument as her profession – she turned her woodworking skills to furniture making.

So, have a think – once you’ve got your big idea, check it out, then go for it!

photo credit: Jeff Kubina

Don’t even think about launching a new business until you’ve explored your idea first. Here are some tips to help you research your business:

Business Link -The local groups seem to have a mixed response from  entrepreneurs but its worth getting in touch. Some have market research documents such as BOPS (Business Opportunities Profiles) available for free.

Business Libraries - Goldmines of information and resources. My favourite is the City Library (London). Worth the train fare from “Up North” to be able to view the Keynote reports alone. Local bizz libraries such as Manchester are increasingly making their information available online.

Trade shows – Visiting relevant trade shows is a no-brainer – whether you’re checking out possible suppliers or looking to trade business to business yourself. Most trade shows also offer a seminar programme which can help you get up to speed with industry matters.

Trade Journals -  You should subscribe to relevant magazines and journals – useful not just for learning about the marketplace but assessing the competition too.

DIY Market Research – It’s worth having a go at undertaking your own market research. Online software such as Survey Monkey makes the process of collecting responses and analysing the results a doddle. Just ensure that you recruit respondents from a wide catchment and within your target market.

Research no no’s - Don’t ask your family, other half, pals etc. They’ll either encourage a rubbish idea or discourage a fab one!
photo credit: Pink Sherbet Photography