The document discusses the key differences between being self-employed and starting a growth business. Self-employed individuals need skills, contacts, confidence and basic business knowledge to turn their expertise into services, while entrepreneurs require a team, large market opportunities, validated business models, and investment to build scalable and profitable businesses. It also outlines the traditional startup model and challenges therein, and promotes a new customer-focused model involving understanding problems, testing minimum viable products, and fostering customer love and retention to drive growth.

2. Going Self-employed vs Starting a Growth Business
Self Employed need :
• To turn a pre-acquired skill/know-how
into a service
• Portfolio (Evidence)
• USP
• Easy access to customers (i.e.
contacts./ networks)
• Self-Confidence
• Basic business know-how
• Relatively high profit margin’s
• Cashflow
Entrepreneurs need:
• A team
• A large market opportunity.
• A WOW
• Key Partners/ Early Evangelists.
• A solution/ offer customers will buy/use.
• A “Market Validated Business Model” that is
both repeatable, predictable and scalable.
• Profits
• Resources and Investment ££££
www.thebusinessbootcamp.org

3. Traditional Start-Up Model
www.thebusinessbootcamp.org
Have an Idea
Get Idea
Validation
Develop a
business plan
Source Funding/
Resources
Launch
Business
Valley of Death- See
if anyone will buy
my product.
Get Set-Up
Guidelines
Post- StartPre-Start

4. See Steve Blank, Four Steps to the Epiphany
Attempts to Premature Scale is the
No 1 reason that ambitious
business start-ups fail.- Source Start-up
Genome.
New Start-up Model
www.thebusinessbootcamp.org

5. Whose the Customer?
www.thebusinessbootcamp.org 5

6. Do you know your customer?
The Problem Solution?
• Do you know what their problem is?
• How important is it to the customer ?-
£££
• Why is it not being solved?
• Why are present solutions inadequate?
• Why now? – when does the problem
become in need of a solution?
www.thebusinessbootcamp.org

7. Minimum Viable Product-MVP
1. Hypothesis- “Product- Customer Fit”- Customers
will buy my product idea because…..?
2. Evidence- What can I do to disprove/ prove my hypothesis?
3. MVP- A product that will test the hypothesis with customers
www.thebusinessbootcamp.org

8. Whose your “first” customer
Customer- A person with a problem you can
solve?
Segment – A group of customers that you
can…
• Reach
• Convince to “test & trail” your MVP
• Be you co-developers
• Be your Evangelizers - Lead on to more
custom/ new customers.
www.thebusinessbootcamp.org

9. Customer Relations- Where there is Love there is
growth?
Love = Growth
• Viral- Customers love you so they get at least one
other person to use/ buy i.e. Facebook, Spotify
• Customer Acquisition- You pay £££ to
market your product and the profit from the
customers you gain is greater than the marketing
costs??? (N.B. Margins often need to be high)
• Stickiness- Customers “love” you so they
keeping coming back for more e.g. Apple-
MacDonalds.
www.thebusinessbootcamp.org

10. Startups
• startup company ("startup"): A company, partnership, or
temporary organization designed to address an unmet or less
addressed customer need
• often a company poised for rapid growth
• must be able to reach many people, and make money from them
• a new/small company != a startup, ... but most are
• often based on technology
• low cost to enter market
• easy to reach many people
• high risk, high reward

11. A startup timeline

12. Funding timeline

13. 12 Characteristics Of Wildly Successful Startups
1. Follow your dream. All successful entrepreneurs have an idea they want
to pursue. They see an opportunity to solve a consumer or business need.
2. Take the risk. Winners understand and take the measured risks associated
with launching a business that may include loss of money, possible failure
and health risks. Even with a great product idea that has gained traction
with customers, founders face stunning and daunting challenges.
3. Make the sacrifice. Those who start and grow a business will give up many
personal benefits to be successful. Sacrifice will include time, relationships
and other opportunities.

14. 12 Characteristics Of Wildly Successful Startups
4. Be persistent. Great entrepreneurs never give up. They never stop trying.
They somehow overcome every barrier and climb over and around all
obstacles.
5. Know your customer. Successful entrepreneurs know the needs of their
customers. They know everything about them. They know what they want,
when, where and at what price.
6. Sell to survive and prosper. Winners know how to sell their products or
services. They understand the customers’ satisfaction level with the current
competitive offering, the price paid for the product, where it was purchased
and details regarding product features, warranties and support.

15. 12 Characteristics Of Wildly Successful Startups
7. Take care of your customers. Great entrepreneurs value their customers and go
out of their way to take good care of them. These alert entrepreneurs work long
hours to win their customers’ hearts and minds and labor every hour to retain and
increase their buying activities. Without question, this attitude typifies the very
best entrepreneurs.
8. Hire the right employees. Winners know how to find, select, hire, train, motivate,
reward and retain great employees.
9. Value your employees. They also know how to keep employees happy and
productive. Renowned business builders carefully watch over their employees like
a shepherd over a beloved flock. They are kind, respectful, encouraging and highly
supportive. This unique attribute is one of the powerful characteristics of award-
winning entrepreneurs.

16. 12 Characteristics Of Wildly Successful Startups
10. Establish a winning culture. They know that shared values, philosophies
and behaviors align and combine to determine the future success of an
enterprise. They establish a positive culture that inspires and motivates
workers.
11. Call upon mentors. They call upon individuals with experience, skills and
a network to guide them.
12. Communicate constantly. They regularly communicate with employees,
vendors, investors, suppliers and customers about what’s happening in the
business.

17. 5 Traits All Successful Startup Entrepreneurs Have
1. Passionate
2. Motivated
3. Calculated
4. Educated
5. Tenacious

20. $ 15 B Valuation $ 2 B Valuation $ 4 B Valuation
$ 500 M
Valuation
$ 1.2 B Valuation $ 500 M Valuation $ 1.5 B Valuation