Hugh Chappell - Running Successful Online Businesses - The Online Business Makeover - 12/03/2012

Running Successful Online Businesses

Hugh Chappell Fresh Business Thinking - March 2012

Running Successful

Online Businesses



About Me

Perfectionist

If a job’s worth doing then it’s worth doing well

A total believer in product excellence

Hard Working / Workaholic

Self-motivated

Passionate



Conveyor Belt 1 – Employment (27 years!)

1976 - Johnson Matthey PLC

(Analyst Programmer, Computer Section Supervisor, IBM and ICL

Mainframes)

1979 - Apple Computer (UK) Ltd

(Sales Consultant, Sales Manager)

1985 - 2003 Taxan (Europe) Ltd

(Sales & Marketing Director and Deputy Managing Director)



Conveyor Belt 2 – Entrepreneur! (5 years)

2003 – TrustedReviews.com

(Owner/Managing Director)

Sold to Time Warner / IPC Media – October 2007

2005 – bit-tech.net

(Owner/Managing Director)

Sold to Dennis Publishing – October 2008



Conveyor Belt 3 - Angel Investor and Advisor (3 Years)

2009 to Date - Net Communities Ltd

(Chairman & Shareholder)

2010 to Date - Lovestruck.com

(Executive Chairman & Shareholder)

2011 to Date - ParkatmyHouse.com

(Director & Shareholder)

2010 - 2011 - Time Out Group

(Non-Executive Director)

2011 to Date - Markco Media Ltd

MyVoucherCodes.com


2011 to Date – Dennis Publishing Ltd




What is success?

Definition of “success”

• the accomplishment of an aim or purpose.

• the attainment of fame, wealth, or social status.

• a person or thing that achieves desired aims or

attains fame, wealth, etc.



What makes a Business Successful?

• Provides excellent products and services.

• Contributes to economy of the country.

• Creates employment.

• Makes a profit!

• Produces a return for shareholders on the

assets employed.



Comparing a successful business with chair?



Comparing a successful business with chair?

TrustedReviews.com & bit-tech.net (online publications) - 3 Legs

Technology (web), Premium and Original Content, Sales

Lovestruck.com (online dating) - 2 Legs

Technology (web/mobile), Marketing

MyVoucherCodes.co.uk (online vouchers) - 4 Legs

Technology (web/mobile), Content, Sales, Marketing



Accurate Business Plan

• Definition of Key Performance Indicators.

• Revenue - the most difficult bit!

• Costs - the easy bit!

• Avoid the Business Plan based on a fixed percentage of revenue growth each

month (reality is very different).

• February has 28 days! (21.78% growth required to grow by 10%).

• Factor in Seasonality.

• Measure daily and monthly (detail). Adjust (both up and down).




Unbelievable




Believable




What are the Key Performance Indicators (KPI)?

Lovestruck.com

• Marketing - Ruthless Measurement of Return on Investment.

• Traffic (Visitors, Bounce Rate, Pages per Visit, Page Impressions).

• Registration, Profile Submission, Profile Approval.

• Subscription (1, 3, 6 and 12 months).

• Subscription renewals.

• Pricing, Initial and Lifetime AOV.



What’s in a Name?



What Makes A Good Website

1. Quick to Load.

2. Simple Design.

3. Easy to Navigate.

4. Effortless to Use.

5. Updated EVERY day!

6. Has No Broken Links or Errors!

7. Produces Original and Quality Content which is Relevant.

8. Effective interaction with social media.

Ultimately a Good Website is one which is “Compelling”, providing Value to the

Audience and so draws them back again and again)



What Makes A Good Website

A Proper Understanding of Technical Requirements:-

• Programming

• Design

• Search Engine Optimisation

• Hosting

• Statistics (audited)



How important is Sales (Revenue)?

“Nothing happens until someone sells something”

Thomas J Watson, Entrepreneur and Founder of IBM

Brilliant ideas, innovative/remarkable products, great websites, the best

systems and procedures have little meaning if there is no revenue to pay

for them.

Everything inside your company depends upon one thing, your ability to

attract and retain customers.



SUMMARY

Why are the business I have worked with been successful?

The Product

The People

Strong Management

Sales Excellence

Discipline (working hours, punctuality, tidy office)

Meticulous Budgeting and Accounting, Ruthless Control of Cost

Staff who enjoyed their job, were passionate and wanted success

Teamwork (no us/them)

Timing

SHEER BLOODY HARD WORK

(7 days per week)



THE DIFFERENCE BETWEEN US AND SUCCESS IS….



THE DIFFERENCE BETWEEN US AND SUCCESS IS

US



THANK YOU

Hugh Chappell - Running Successful Online Businesses - The Online Business Makeover - 12/03/2012

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Transcript of Hugh Chappell - Running Successful Online Businesses - The Online Business Makeover - 12/03/2012