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  • 2015 David Manley Emerging Entrepreneur Awards - David Manley Awards
    10 000 cash prize with three runner up prizes of 1 000 each In addition to financial support the David Manley Emerging Entrepreneur Awards is proud to be able to award over 100 000 in mentoring and support from our partners A series of dedicated support workshops will offer the winners cutting edge online marketing advice an audit of their business strategy and industry specific financial and legal advice The 2014 Award was won by Dublin s very own Little Museum which is dynamically growing to become one of the city s most successful tourism attractions We got in touch with Sarah Costigan the museum s Director of Development to find out how the combination of the financial boost and expert advice helped accelerate the business s evolution Winning the David Manley Award is an invaluable opportunity It offered us practical supports such as legal advice a feasibility study retail mentoring and PR supports But also and vitally it helped us to dream big The DMA supports have helped us to realize that some of our daft ideas are more possible than we initially thought Winning the David Manley Award is a game changing opportunity for any emerging entrepreneur The Awards were originally established to nurture Ireland s entrepreneurial spirit in the business arts and the social spheres so to reflect this the competition is divided into these three categories with a runner up prize award to each and is open to all enterprises which have been in operation for between one and three years Please share this post with any business acquaintances friends or family who might appreciate the kind of opportunity that the David Manley Emerging Entrepreneur Awards offers The deadline for receipt of applications is Friday 3rd October 2014 You can find out how to apply and

    Original URL path: http://www.davidmanleyawards.ie/2015_dma_emerging_entrepreneur_awards/ (2016-02-11)
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  • The Myth of the Eureka Moment - David Manley Awards
    when Archimedes had been working on the problem of measuring the density of irregular objects After a long day of failing to find an answer old Archimedes treated himself to a bath Lowering himself into the water he realised that the volume of his body would be equal to the volume of the liquid displaced by his body And so he leapt from the bath shouted Eureka and ran naked through the streets of Syracuse MOMENTS OF INSIGHT The story may or may not be true but its message can still be useful for entrepreneurs Sometimes when you are stuck on a problem taking a break from it can lead you to an unexpected solution The Eureka Effect or Aha Moment is studied by psychologists as an aspect of insight Insight is a critical ability for anyone working in business Studies suggest there is truth to the idea of letting a problem sit and even sleeping on it to help solve it The important thing to remember about Eureka Moments is that they are not necessary for an enterprise or invention to be successful What is necessary Eureka Moment or not is hard work and lots of it No Moment is an Island The important thing about Eureka Moments is that they don t happen in a vacuum except perhaps when Edison realised a vacuum would stop the filament burning out in his light bulb The Eureka Moment is simply that point when all of the effort of development comes together in a working product that makes sense for its time and finds its market Often for the inventor or entrepreneur it is only with hindsight that they can talk about a Eureka Moment Usually they are too busy continuing to work on their project to notice that moment pass

    Original URL path: http://www.davidmanleyawards.ie/dispelling-the-myths-of-the-eureka-moment/ (2016-02-11)
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  • The Advantages of Starting-Up Later in Life
    typically averse to the risk a younger person represents Your Own Capital After 20 to 30 years working in a profession many entrepreneurs are likely to have substantial savings they can use to get a project off the ground Investing your own capital in a project also shows other potential investors how dedicated you are to the business High Growth Means Survivability Statistically businesses started by people in their 40s or later are more likely to be high growth companies This is one of the main reasons they tend to succeed By growing quickly they move out of the precarious early stages before any unexpected event can damage it beyond repair Within the first year or two a high growth company can be self sustaining allowing it to repay debts create profit and draw additional capital At this point a business can be considered to have been a success even if it does not last forever Working Smart Just graduated from college with enthusiasm coming out their ears a young person often becomes consumed by their new project working ridiculous hours to get their business off the ground However they may not be spending that time wisely They may be focusing too much on one part of the project to the detriment of others Time management is unfortunately not a skill taught in many schools or universities The experience of juggling family a career and personal pursuits gives older entrepreneurs the ability to use their time wisely and crucially not let themselves get burnt out Support from Family and Friends The world of business can be a rough and tumble place even at the best of times A close network of trusted friends and family provides the support and resilience needed to see a project through As we move through

    Original URL path: http://www.davidmanleyawards.ie/the-advantages-of-starting-out-later/ (2016-02-11)
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  • The Advantages of Starting-Up Young - David Manley Awards
    for their whole careers Should the venture be ultimately unsuccessful the trail left by a low capital venture is much lighter This leaves young entrepreneurs in a position to get back into the market with a new idea more quickly and having learnt from their mistakes Less Concern for the Status Quo In fact a younger entrepreneur may not even know what the status quo is People with years of experience in business will have had the rules laid down for them and be less likely to challenge or question those rules The status quo develops as mistakes are made over time and the lessons passed on to others who never make those mistakes for themselves It is wise for the most part to follow the status quo but at the same time some rules continue to be followed even when they are no longer relevant A younger entrepreneur will be more likely to see those areas of potential where established businesses are afraid to go Pushing through the boundaries of the status quo can give an entrepreneur exclusive access to untapped markets Clued In While a young entrepreneur will not have developed the same network of connections as an established business person they are more likely to be aware of emerging trends and new developments particularly in technology Young people are generally the ones who set trends and adopt new technologies so they are often the first to spot the opportunities they present This is also the reason why business incubators are so eager to have young bright energetic entrepreneurs feeding new developments and ideas into their businesses While no one ever has the luxury of choosing whether to start their business young or old they should never put off an opportunity just because they are young Today s

    Original URL path: http://www.davidmanleyawards.ie/entrepreneurship-and-age-part-1starting-out-young/ (2016-02-11)
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  • Why Start-Up Legal Issues are Usually Best Left to the Pros
    but just for a second let s imagine a few worst case scenario nightmares Poorly or even illegally worded contracts can take years of time in court to overturn a lack of a specific type of insurance could result in huge fines and harassment or malpractice cases can permanently cripple a small business Though it may be tempting to try and just hash it out yourself don t Legal advice is the ultimate stitch in time and the opacity of the legal system and its language means that it s worth leaving to those who can navigate it with ease How to Lawyer Up Now that you ve accepted or submitted to getting a lawyer on board it s important to make the right decision about the kind of help you need A larger firm will come with the obvious benefits of specialist knowledge resources contacts and though this sounds silly looking more intimidating whilst a smaller firm or solo practitioner will provide a more informal and personal service at a cheaper cost As with many things the best way to make this choice is by asking around Recommendations from business networks friends and family are the best way to sort the good from the bad When you ve got a list of potentials it s best to meet in person and interview the candidates to find a firm or individual who you can work with and who will bring the right kinds of expertise to the table However Although we cannot stress the importance of professional advice and the risks involved in bootstrapping when it comes to the law the times are changing and there are a number of ways to avoid unnecessarily clocking up huge legal bills Gone are the days in which legal information is utterly inaccessible

    Original URL path: http://www.davidmanleyawards.ie/start-up-legal-issues-best-left-to-pros/ (2016-02-11)
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  • Ensuring Your Small Business Doesn’t Seem Small
    branding they imagine a logo or a company s colours and while these things are of course important your brand goes much deeper than a masthead or slogan Your every interaction with your customer can contribute to making you and your brand seem like a major player Consider how you interact with customers both face to face and online What image does your website project What do your business cards look like If a potential customer searches for your firm online what do they find Aim to project professionalism in everything you do Outsourcing In the early days you may not be able to afford in house staff to help with the running of your business Luckily there are now many affordable outsourcing options which enable small businesses to offer the same options as larger companies You can outsource for a small fraction of the cost of a full time staff member services like social media customer service admin delivery and so on As well as freeing up time to get the important stuff done from the outside your business will seem like a bigger operation from the get go Focusing on a Niche Your small business is most likely to achieve success by focusing on a niche or specialist market This approach has the added advantage that it can make your company seem bigger than it really is In a niche market you have a much better chance of being seen as major player than you do in broader fields that tend to be dominated by two or three big brands By appearing more significant in your chosen niche you may attract the attention of bigger companies in the wider industry This can lead to prestigious collaborations with bigger better known firms again ensuring your small business doesn t

    Original URL path: http://www.davidmanleyawards.ie/small-business-appear-small/ (2016-02-11)
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  • Four Tips For More Successful Negotiations
    likely it is that you ll secure a deal on terms that suit you best A negotiator should observe everything You must be part Sherlock Holmes part Sigmund Freud Victor Kiam 2 Use Open Questions When negotiating a potential deal use open ended questions Phrase your questions in a What Why Where How When If format The answers to these questions are likely to reveal information about your counterpart s intentions that they may not otherwise revealed Closed questions that can simply be answered with a no should be avoided as they can leave you with no more room to manoeuvre The single and most dangerous word to be spoken in business is no The second most dangerous word is yes It is possible to avoid saying either Lois Wyse 3 Don t Be a Bully The archetypal master negotiator is the aggressive no compromise overbearing type They may get what they want but it s often at a cost not worth paying To put it simply people don t like being bullied While this approach might seal the deal for you today you might find others being reluctant to work with you in the future Your start up s continued growth depends on forging meaningful relationships with other parties not just cajoling them into doing your bidding If you are planning on doing business with someone again don t be too tough in the negotiations If you re going to skin a cat don t keep it as a house cat Marvin Levin 4 Get It In Writing In the heat of negotiation it can be easy to forget to get the terms of a deal down on paper You have my word may sound very nice but in practice it often leads to unfulfilled promises So keep a

    Original URL path: http://www.davidmanleyawards.ie/four-tips-for-more-succesful-negotiations/ (2016-02-11)
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  • Why Entrepreneurs Need to be Great Storytellers
    startup can pay dividends in many situations beyond a simple sales pitch From presentations with industry peers to calls for investment or even just an in house pep talk great storytelling allows your audience to see beyond statistics to see why you matter A well told anecdote can often have a much bigger impact than a list of your sales projections A well constructed startup story will engage your audience on an emotional level so they ll feel personally invested in your success Apple tried to use evidence to persuade IT execs and big companies to adopt the Mac during the 80s They tried ads and studies that proved the Mac was easier and cheaper to support They failed It was only the gentle persistence of storytelling and the elevation of evangelists that turned the tide Seth Godin Make the most of your medium There are many ways you can tell a great story and the medium you use will alter how you tell it What works in a presentation at a conference may not be what works on your website or in a promotional video Be aware of the advantages and limitations of each medium For example promotional videos can be an effective means of telling your story and presenting it to the wider world but there are some factors you should consider before choosing this method Do you have the money and expertise needed to create compelling video content Is the audience for your product likely to sit through even a short presentation Will a video present your story in the best light There s no right answer to what medium you should use or prioritise what s important is that you ask questions such as these in order to find the best methods of telling the story

    Original URL path: http://www.davidmanleyawards.ie/why-entrepreneurs-need-to-be-great-storytellers/ (2016-02-11)
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