Cranfield University Technology Park’s June seminar was all about entrepreneurship, with advice from Cranfield University’s Bettany Centre on how to plan for growth in order to run a better and more successful business.
Led by Dr Shai Vyakarnam the session focused on the challenges of growing a business and especially how to turn growth into supergrowth. Shai’s presentation is available here. In addition, here are our own top tips from the seminar:
You can be an entrepreneur
- The word entrepreneur is easily associated with specific, charismatic indviduals, but don’t be put off – entrepreneurs are not born, but can be made and can be taught
- At the moment there is a lot of buzz around ‘start-ups’ in the UK but the real challenge is not starting but growing. Rather than thinking like an SME, think like a big business which is still on its journey
- Growth means change, which itself creates risks. Plan ahead to meet the next challenge in the business – whether that is managing teams or putting structures in place without tying the company in red tape
Keep your eye on the prize
- Make sure that the vision – where you want to end up – doesn’t get bogged down by the day-to-day running of the company
- Articulate that vision to your team and bring them along with you. Successful businesses don’t rely on an individual but on a shared attitude and way of doing things which clients can buy into
Focus on the numbers – the magic of 1%
- Look at your accounts in broad terms and assess where you can tighten up your expenditure and income. If you can increase prices by 1% at the same time as cutting overheads and supply chain costs by the same, you can boost your profits considerably
Talk to Cranfield
- Cranfield University can help you run a successful business. Check out the Business Growth Programme and also the Bettany Centre’s Venture Day – a one day event looking at how to move from growth to supergrowth held in September 2016.
About the events
Cranfield University Technology Park’s free business seminars are designed to suit the needs of growing businesses in the Milton Keynes and Bedfordshire, with topics ranging from finance and business development to apprenticeship programmes.
The events which include a networking breakfast are hosted in the Cranfield Innovation Centre offices’ conferencing suite and are open to all.
The events are delivered in partnership with Cranfield University, South East Midlands Local Enterprise Partnership (SEMLEP) and Central Bedfordshire Council.