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Smarta blog

What do your walls say about you?

Monday, October 05, 2009 by Jim
It could have been the brilliant final scene of The Usual Suspects where we realise Kevin Spacey’s Verbal has fabricated the wondrous illusion of Keyser Soze from papers lining the walls of the detective’s office (see below) or it could be the time Microsoft told me competitors once hired a neighbouring office to try and peak at a top secret presentation, but whenever I visit a company’s office I’m always fascinated by what’s on the wall.Indeed, you can often learn more about a big company and its processes from the remnants of meetings,brainstorming sessions or signs for staff than an interview with its PR-savvy CEO who's rattled off the same polished story a million times before.That wasn’t the case with the media company I visited recently whose boss is lovely, but the flipchart scribbling left in its meeting room made interesting enough reading for me to want to scribble it down.It looks like it was a summary of a management or staff training/strategy session and was titled ‘team behaviours’:Value the teamFlat managementAcceptance of each other as individualsOpen and honest but be respectful of each otherPlay to each other’s strengthsBest idea not the loudest ideaEveryone encouraged to speakAll ideas are valuedAlways consider new ideas and waysForget past lives, enjoy the futureEmbrace constructive criticismReally healthy stuff, I reckon and definitely reflected in the relaxed, democratic and motivated feel to the office. Far healthier than the instructions for work experience students I once found in one of the UK’s largest and esteemed organisations, which began, ‘1) Don’t ask questions’.I’ll keep reporting my nosy parker findings, but let’s hear about yours as well!

Two weeks left to pitch for Seedcamp 2008

Monday, October 05, 2009 by Jim
tent2.jpgBrits are pitching their tents and going camping for their summer holidays this summer. Entrepreneurs will be joining in too with September marking the return of last year’s highly-successful Seedcamp, where a more familiar form of pitching will be on the agenda.The week-long experience will see 20 selected start-ups undergo an intensive investment-readiness programme, with the help of a diverse mentor network of serial entrepreneurs, corporates, product designers, venture capitalists, recruiters, marketing specialists, lawyers and accountants.At the end of the week, five of the companies will win €50,000 in exchange for a 10% stake. Those five then get the same ecosystem of experts for an extended three-month tutorship which, in addition to more intensive scaling up, includes two investor presentation days.Organised by Index Partner’s Saul Klein, founder of Video Island and former VP of marketing and e-commerce at Skype, Seedcamp has representatives from Google, Microsoft, NESTA, Cisco and Mizilla on its advisory board.If you’re an early stage idea and meet Seedcamp’s flexible criteria, you’ve got just under two weeks to apply.Oh, and don't forget those tentpegs...Image: Flickr

Hell hath no fury like a Dragon scorned!

Monday, October 05, 2009 by Jim
gutted.jpgLast night’s Dragons’ Den was a classic, with two DD firsts and one poor guy being practically set alight by the dragons' fury!First, Clive Billing was offered a DD record £255,000 for a 40% stake in his online jewellery retailer Diamond Geezer from Peter Jones, James Caan and Theo Paphitis – and then turned it down! “I’ve no regrets whatsoever, it wasn’t a fair offer,” said Clive, who was holding out for 20%, after the show.He’s confident he’ll get a better deal elsewhere. Given Clive only made £3,000 from £1.6m turnover last year and has liabilities of approx £300,000, we’re not so sure! And fancy passing up on the opportunity of adding three dragons to your board!The unique aspect to Peter Jones’s £75,000 investment for 35% of Victoria McGrane’s fledgling fashion company Neurotica was that she’d only asked for £56,000! While one by one the other dragons balked at Victoria’s obvious failure to budget for stock to meet supply orders, Peter readily upped his offer to account for the oversight.While hardly a first, the dragons were also at their fiercest best. Diamond Geezer Clive got a stern reprimand from Deborah Meaden for having broken the show rules by previously contacting her, while unimpressed Duncan assured him the pleasure in their meeting was all Clive's.The real pasting was saved for Richard Mire and his Screen Machine idea to help parents control children’s TV viewing. The dragons’ nonplussed reaction was just the start; the real action began when Richard revealed his other business made £300,000 last year.“Get out of here. GO AWAY!” screamed Theo, repeating it several times. When the chorus of abuse subsided, James Caan spelled out Richard’s crime for him: “So this is such a amazing idea you want to put £2,500 in for 85% and I’m going to put in £150,000 for 15%?! I’m a bit disappointed that you think we’re that stupid.”Duncan Bannatyne quickly lowered the tone again, sending Richard packing with possibly the hardest exit line in DD history: “I wish you absolute failure. I hope it doesn’t take off. I hope people don’t buy it, I hope it fails. I think it’s ridiculous.” Just in case that didn’t fully clarify where he stood, Duncan added the all too familiar “I’m out.” Harsh. But, on reflection, probably fair.If you missed, catch it iplayer until Monday.

A novel idea it might be, a great one it's not

Monday, October 05, 2009 by Jim
sonyebook.jpgA novel idea it might be, but I can’t see the Sony Reader catching on.The ebook that stores 160 downloadable novels hit UK stores this week. Priced at £199 and weighing 250g, every battery charge allows 6,800 page turns.Now I might be missing something here, but when would you ever need, or more importantly, want access to 160 novels? Possibly if you were circumnavigating the globe or locked in a world of 24hr Big Brother, I suppose. And if you did why would you want to read them via screen and have to manually click for a new page every 17 lines or so?OK so it’s easy to say it now, but MP3 players worked because they improved the alternative experience. We love being able to shuffle, flick and rotate our record collections, while 8,000 7” vinyls and a turntable always were a bit of a bitch to get on the bus.MP3 players also worked because iPod made them look cool as funk. The ebook looks like an Etch-A-Sketch in a cheap suit.Great ideas are solutions to problems and improve experiences. It feels like the ebook is a semi-solution searching for a problem that doesn’t exist.

Why haven't you applied to Dragons' Den?

Monday, October 05, 2009 by Jim
hamfatter.jpgUnless you’re likely to sweat profusely, turn into a jabbering wreck and alert the nation to your insanity by admitting you’ve pumped your life savings into patenting chocolate fireguards, you should seriously consider trying to get on the next series of Dragons’ Den.And that’s whether your company needs investment or not.When I met Gavin Wheeldon of translation service Applied Language Solutions last year I asked him if he regretted his appearance on the show where he was blasted for overvaluing his business by asking for £250,000 in exchange for just 4%.“Not at all,” he replied. “I never expected to get invest at the rate I knew I could get it elsewhere, so it was all about the publicity. How else do you get your business on TV in front of millions of people for free?”He’s not alone in entrepreneurs who’ve used Dragons’ Den to their advantage without raising cash. For some it’s as simple as spinning a ‘look what the dragons got wrong’ PR story.That’s worked for Rob Law’s children’s luggage company Trunki, which has gone on to be stocked in 24 countries since Peter Jones told him: "I meet people like you all the time - you think you have something. I tell you, you don't. Within seven days I could do a better job than that. Your company is currently worthless."And then there's Rachel Lowe who just months after admitting she didn't 'know her figures' saw her board game Destination became Hamley’s best-selling Christmas present. It's now up to its 15th edition and Rachel's held talks with Walt Disney about movie versions.Hamfatter, the band that on Monday night did secure funding from Jones, are also basking in their 15 minutes of fame. They’ve enjoyed plentiful press coverage over the past few days but the impact was even more immediate according to Play.com, which reported the band’s downloads rocketed between 10pm and midnight on Monday.You can apply here. Unless

Why we won't fund Boots' exploitation of small firms

Monday, October 05, 2009 by Jim
boots.jpgOccasionally, when pressed for time, team Smarta buys its lunch from Boots. Busy or not, it won’t anymore.Why? Well we’re not overly keen on Boots' selection of sarnies anyway, but we’re certainly not impressed by this news story that Boots is putting the, er, boot in on many of its small suppliers.Changing payment terms from 30 days to 75 days from the end of the invoice month (so effectively up to 105 days) and introducing a 2.5% ‘settlement fee’ for actually paying the bill, stinks of exploitation and ‘I’m all right Jack’ protection of profit margins as times get tough.Well our lunch money isn’t going to support such bully boy tactics and we suggest yours shouldn't either – although, before you point it out, that’s not really going to help the small suppliers, is it?

Back in the Dragons' lair

Monday, October 05, 2009 by Jim
dragons.jpgTheo Paphitis, Peter Jones, Deborah Meaden, James Caan and Duncan Bannatyne return to our screens tonight with the sixth series of Dragons’ Den.As the now celebrity entrepreneurs have been popping up everywhere from Saturday Kitchen to Top Gear, it might seem as if they’ve never been away, but tonight it’s very much a case of getting back to business.The line-up for the first episode sticks to the tried-and-tested recipe of more zany inventions, bungled pitches and absurd propositions than genuine business opportunities, with just as much to learn about ‘how not to raise finance’ than anything else.This week’s carcrash presentation comes courtesy of John Foster-Smith and Ros Adams. Their attempt to secure £50,000 for Layline, a bed sheet with a dividing line aimed at solving night-time squabbles among bed-hogging couples, begins with them lying on the studio floor recreating that scenario in front of the dragons. It’s hands-over-the-eyes, scream-out-loud viewing.A machine that turns air into water and a green events company sound more promising, while Cambridge rock band Hamfatter offer to share lifetime royalties in exchange for £75,000 to make an album.If you can’t wait until tonight (BBC2, 9pm), there are several video previews on the beeb’s swanky new Dragons’ Den website. Shame they don’t share their videos so we can embed them here, but hey, it took them this long to work out entrepreneurial business actually interests the mainstream...

Kitten-heel queen sells up

Monday, October 05, 2009 by Jim
lindabennett.jpgHurrah for Linda Bennett, who’s today £100m richer having sold a controlling share of her 100% stake in designer shoe retailer, LK Bennett.The sale tops off what’s been a true entrepreneurial success story.A graduate of renowned shoe design college Cordwainers, Bennett got experience of the manufacturing process at Robert Clergerie’s factory before working on the shop floors at Whistles and Joseph.Having spotted a gap in the market for the ‘kitten heel’ being paraded down the catwalks, Bennett opened her own shop in Wimbledon in 1980, using £13,000 savings and a £15,000 bank loan. Dubbed the ‘kitten-heel queen’ she now has more than 70 shops across the UK.Bennett hasn’t always enjoyed the nicest of press, however. Notoriously media-shy, she rarely gives interviews and has paid the price at the poisoned pen of several scorned journalists.For want of an example, in 2004 The Sunday Times dubbed her, “short, stocky... dressed head to foot in black like a rather beautiful hamster off to a funeral”. Around the same time there was little sympathy when Bennett withdrew the company from sale when bidders failed to match her £75m valuation – especially when Tamara Mellon offloaded Jimmy Choo for an extra £25m.I guess she’s the one laughing today, especially as none of those papers seem to have any quotes to go with the story!Aside, the deal also has to be seen as a big positive among the retail doom and gloom. Buyers Pheonix Equity Partners have proved there’s still room for top level acquisitions, while the fact LK Bennett saw a significant jump in profits on £45m sales in the first half of 2008 to attract the bid can’t be a bad sign either.

In search of homepage heaven

Monday, October 05, 2009 by Jim
Team Smarta has spent the week bickering, agonising, no, 'healthily debating' homepage designs. It’s all about striking balances, don’t you know...White space ‘v’ content showcasing; Impact ‘v’ subtlety; Vision ‘v’ impression generation. And that’s before you even enter the conflict zone of video, branding, and advertising.In a desperate bid to find enlightenment I went off in search of the web’s best homepages. OK, in truth, I spent half an hour surfing around and came up with this top five. Here it is in reverse order:5. TimesOnline – much copied (but yet to be bettered) by other publishers seeking a busy but good looking homepage.4. Ebuyer – not an obvious choice and won’t win many beauty awards, but this ugly duckling does a brilliant job of presenting a text-heavy product directory that’s nice and easy to navigate.3. Apple – design gurus are an obvious destination and never disappoint. Always get what you expect in a presentation that still succeeds in inspiring. Always clean and simple.2. Moo.com – A bit web 2.0, a bit flickr (which could easily have made this list), Moo wins for one reason: you can’t look at it without wanting to immediately buy and, even better, buying looks so easy. A lesson in product impact and e-commerce.1. Google – Predictable, obvious, but who cares. Big white screen, search box, logo – exactly what else do you need?It's all subjective, of course, so let me know your thoughts and favourites by commenting below. Next up logos!

Political party in business policy shock!

Monday, October 05, 2009 by Jim
cameron.jpgThe biggest challenge facing David Cameron at the moment must be keeping a straight face. Surely there’s nobody else in the country finding so many upsides to Gordon Brown's desperate bid to dispose of power?Economic woe deepening by the day; business groups shrieking ‘told-you-so’ as insolvencies escalate; unemployment hitting a 16-year peak. Add in spiralling petrol and food costs, a knife-crime epidemic and a catalogue of bungled PR-disaster responses from the dead-man-walking and his cabinet of corpses and Cameron’s weekly Daily Torygraph column kinda writes itself.Of course, this is nothing new. Cameron’s had a cushioned ride for months now. What makes today's response worthy of comment is, rather than basking in the government’s eminently-baskable inadequacies, there’s actually some policy. Yes, P-O-L-I-C-Y.First off, the introduction of the US’s Chapter 11 bankruptcy policy, which gives struggling companies protected breathing space to negotiate repayment plans with creditors while continuing to trade under certain constrictions and, crucially, stay in control of their assets. It’s not liked by everyone in the US and there are arguments it's anti-competitive, but it does keep viable businesses with long-term revenues afloat to sort out cashflow crises.Cameron’s ‘economic recovery plan’ also pledges to cut red tape; introduce a fair fuel stabiliser to crackdown on profiteering petrol companies; limit public spending in order to invest in manufacturing, science and engineering and, as a result, lower taxes.OK so talk is cheap and who believes politicians nowadays, anyway? But at least we’re seeing some kind of practical solutions here – not 'be good people and save your scraps’ suggestions from Mr Not So Prudent.If that's all the 'government' has to offer the public as we hurtle towards recession, what's the message for business? Do you know? Answers on a postcard please (or below actually).

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