Durham Sparks offers fully funded, hands-on practical business support, information and advice to community enterprises looking to make an impact in County Durham.
Whatever stage you are at on your business journey we'd love to hear from you!
Driven by you and your organisations needs we can look at every aspect of your business with the aim of adding value to what you are already doing.
We will challenge your thinking and help you to develop your organisation to deliver the services that matter to you and the communities you serve.
We have a wealth of business expertise and our Business Advisors can work with you to maximise your skills, talents and aspirations.
Our specialist team can work with you relating to:
Business development and strategic planning
Product and services development
Advice and guidance on funding and investment
We can also offer brokerage to other value added support and access to workshops and network events BUT, it doesnt stop there; our bespoke approach means we can become a member of your team working for you and with you to help you to get to where you want to be.
Motivated to make a lasting difference to the communities of County Durham we provide the support that bridges the gap between your ideas and making it happen.
Whether you are a new or existing business considering becoming a community enterprise, a newly formed community enterprise developing your business, or an existing community enterprise that has been trading for a while, the Durham Sparks programme is designed to help and support you and your organisation.
To make an appointment, or for more information call us on 0191 386 2634.
Thinking of starting a business? - Know your market before you go to market.
Here, Durham Sparks Business Advisor Katherine Briggs, outlines her key steps to get you started: -
One of the very first parts of the start-up process is to test the market to find out if there is a demand for your business idea.
This is known as testing the market, and from experience; I can safely say that this is a very important part of the process. Many start-ups have fallen foul of skipping this step, and the sum total is this, if you fail to accurately achieve product/market fit, where money gets made, you're sunk!
Remember, the goal is to arm yourself with as much information as possible about the size, needs, and condition of your market. Conduct enough research to ensure the results arent one-sided, and listen to the feedback you receive. Be prepared to change your idea according to what your customers want, not necessarily what you think is the best solution.
Here are Katherines top five tips for testing your business idea:
Use the internet.Use the internet or local library/university/college to gather quantitative data about your market, such as is it new or mature?
How big in cash terms is the current market for your product/service? Use this information to help you make an informed decision
about where the market is and where it is headed, and whether or not there is room for you.
Attend trade shows & expos. Attend trade shows and exhibitions so that you can scrutinise both your competition and your prospective customers.
Whilst you're there ask: What are the customers buying? How are your competitors delivering it? Are they buying exactly what they want? Can you do it better? Cheaper? Quicker? Or, more conveniently?
Answers to these questions will help you get to grips with your market and will help to prove or disprove your business idea's feasibility.
Look closer at your ideal customer.Ask lots of questions about your customer; including why they would buy from you? (this will help with targeting later on too!)
Ask things like; where do they live? How old are they? Where do they shop? How much do they spend? Is the product/service a need or a nice-to-have? Does it solve their problem? Or give them the feel-good factor?
This allows you to further define your product/service to match the interests and demographics of your audience.
Test EVERYTHING. The proof is in the pudding. And the only way to really find out if your audience likes your product/service is to ask them. Once it is defined, you can test it by simply starting small and continuously evaluating its performance. Take every opportunity to
network and make contacts by attending events relating to your industry as often as possible.
If you are considering self-employment for the first time, or you already have a business and you want to discover more about community enterprise, the team at Durham Sparks can
provide an introduction to everything that you need to think about from legal structures, branding and marketing to business planning and finance.
For more information and to book an appointment call us on 0191 386 2634 or email [email protected]
There's certainly a lot of information out there across the Internet, and it's often difficult to decipher what you should and shouldn't include.
From our experience of writing and developing business plans, it definitely doesn't need to be complicated, but for it to serve its purpose it does need to be crystal clear to whoever is reading your plan that you have a clear understanding of how and why your business will be a success.
To find out more, we caught up with Durham Sparks Business Advisor David Beavis, to find out what a business plan is, why you should have one and his key tips for writing one successfully.
What is a business plan?
A business plan outlines what your community enterprise is - its core purpose; what you are aiming to achieve and how you are going to achieve it.
Why do I need a business plan?
In a nutshell, a business plan is the vehicle for enabling you to communicate your vision to others and to persuade them to help you to reach your goals.
Think of it like your businesses CV, explaining your objectives to a range of audiences including investors/funders, partners, employees and others.
Here are David's top tips for writing your business plan:
Ensure your equipment and resources are fit for purpose.
In some cases, you may need to start with second-hand equipment but think about how long it last and what cost you will incur in maintaining the equipment.
Compare this against purchasing or leasing new equipment
and review it from a cost v benefit perspective. (When leasing, be ensure you read and understand all the terms and conditions).
Durham Sparks provide guidance on all aspects of community enterprise development in County Durham. If you're
looking to start a community enterprise or grow your existing enterprise contact the team on 0191 386 2634 or email [email protected]