Firestarter Podcast 13 - Part 4 of Creating a Nurse-led Social Enterprise in Health

This is the Firestarter Podcast which is the world's first podcast for social enterprises in health.

This podcast is the fourth of a 5-part workshop on "How to create a nurse-led social enterprise in health" run by Dave Dawes from Entreprenurses Community Interest Company. If you would like to attend future versions of this free course, please click here.

The podcast covers:

  • Introduction to marketing
  • Why marketing isn't just advertising and public relations
  • How to work out your start-up capital from your market information
  • How to pick your co-founders and why they need to be as dedicated to the business as you
  • The Napkin Business Plan:
    • a) What is it you will do?
    • b) What is the market and demand?
    • c) Who are your competitors?
    • d) What is your pricing?
    • e) How much will you make?
    • f) How much will it cost?
    • g) Who is your founding team?
    • h) How much start up capital do you need?
  • It is rare to set up a social enterprise without using 1 or 2 as start-up funding
  • If you run a social enterprise you risk losing your house
  • Why your house is still at risk even with a company limited by shares or guarantees
  • Why you will almost certainly need to personally guarantee any business loans or overdrafts
  • Sources of start-up funding (from easiest to hardest to get):
    • 1) Your money (savings or personal loan)
    • 2) Borrowing from friends and family
    • 3) Banks (overdrafts and loans)
    • 4) Grants
    • 5) Equity
  • It is rare to set up a social enterprise without using 1 or 2 as start-up funding
  • Dealing with £95,000 of personal debt
  • There isn't a risk-free way of keeping your house whether you are an entrepreneur or not
  • Dealing with fear and guilt
  • Why you want to be very very fussy about who your bank manager is
  • The smaller you start your social enterprise, the easier it is to raise money and the easier it is to learn quickly from mistakes.

Podcast 13 - This can be downloaded here (21 Mb)

The music is "Fire Dance" by djbouly and is brought to you under a creative commons licence.