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Start your business idea with New Frontiers Phase 1 - Martina Goss

New Frontiers Phase 1: start your business off on the right foot

By New Frontiers blog
In this blog, former Programme Manager Martina Goss explains how to maximise the opportunities available to you on Phase 1 of New Frontiers. So you have the innovative business idea and received the good news that you have secured your place on Phase 1 of New Frontiers. Now the fun begins – it's time to start validating the commercial potential of your idea. But with so many things to do, how can you ensure that you maximise the use of your time on Phase 1 and ensure you are on the right track towards validating your idea to arrive at a go/no go decision? Here are some points to consider to help you stay focused on what matters most.   ...
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New Frontiers Common startup mistakes entrepreneurs

Have you made any of these common startup mistakes?

By New Frontiers blog
It's human to make mistakes. We all do it. Early-stage entrepreneurs are juggling a lot of balls, so mistakes are bound to happen. The important thing is to not beat yourself up about it and instead invoke the wise adage of Samuel Beckett: "Ever tried. Ever failed. No matter. Try again. Fail again. Fail better." Learning from your mistakes is what will make you successful. And you can even get a head-start by learning from the mistakes of entrepreneurs who have gone before! There are common mistakes that startups make, such as not listening to their customers, not pivoting when they should, or not getting their branding right. Today, though, I'm looking at four key mistakes that entrepreneurs often make...
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Spilling The Beans event provides great insights for food sector startups New Frontiers

‘Spilling The Beans’ event provides great insights for food sector startups

By New Frontiers blog
Dominic Mullan, former New Frontiers Programme Manager at the Institute of Art, Design & Technology (IADT), Dún Laoghaire, recently organised an event called Spilling the Beans, delivered by TU Dublin and IADT for food sector programme participants and alumni from across the country. In this article, he shares some of the insights from the event. ‘Sure, launching a start-up is so much easier these days, with all sorts of tech tools and open-source options drastically reducing upfront costs and time to market,’ or so they say! While that may be true of purely digital plays, the same can’t really be said for food ventures. A chat with any food founder will undoubtedly involve tales of the strife associated with raising...
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5 powerful habits of successful business leaders new frontiers

5 Powerful Habits Of Successful Business Leaders

By New Frontiers blog
Humans are creatures of habit. This might not be a ground-breaking revelation, but the extent to which we are controlled by our habits is remarkable. According to a study conducted by Duke University, over 40% of our decisions are habitually made rather than consciously decided. If our habits are bad, this could be pretty scary! But the good news is that we can, with effort, change our habits and even influence them to work in our favour. Aristotle famously said, “We are what we repeatedly do. Excellence, then, is not an act but a habit”, and we agree. If business excellence is your goal, then we suggest practicing the following business habits. 1. Write your $10 million cheque In 1985,...
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Small business secrets for improving your SEO ranking in 2020 - new frontiers

Small business secrets for improving your SEO ranking

By New Frontiers blog
Small business doesn’t have to mean small website. We’re starting this SEO blog with some gusto by telling you: You CAN rank on the first page of Google. Yes, with a bit of guidance, ranking high on Google is very much within your capabilities. The only issue is time. SEO can seem like a bit of a slog if it’s not your area of expertise, so before we dive into our tips for improving your website’s SEO ranking, we have some friendly advice to share. The key to SEO success for small business owners who just don’t have time for this is to set yourself achievable goals. Schedule SEO tweaks into your calendar just as you would anything else and...
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Big business trends to watch out for in 2020 - New Frontiers Programme -Enterprise Ireland

The big business trends to watch out for in 2020

By New Frontiers blog
2020 is upon us and we STILL don't have flying cars. It’s a disappointing realisation that we are entering yet another futuristic-sounding year without even one DeLorean to have taken to the skies. Alas, we’ll have to curb our expectations for now and be content with cars simply driving themselves. Joking aside, 2020 is looking to be a very interesting year for business with great advancements and transformations happening in technology, the workplace, customer relationships, and more. If you’re craving some sharp insights into what kind of year 2020 is shaping up to be, then look no further! We’re going to share with you 4 business predictions we’re putting our bets on for 2020. Our top 4 business predictions for...
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5 tips for recruiting a stellar first hire for your startup - New Frontiers programme

5 tips for recruiting a stellar first hire for your startup!

By New Frontiers blog
Making the first external hire is a big step for a startup. It's a significant commitment with all kinds of obligations and logistics to consider. In this blog, we'll take a look at some tactics to help you make recruitment less of a risk. Before you start, make sure you do really need to hire someone at this point. If you’re running a startup, it's a good guess that you’re run off your feet and wish you had a second you to make the workday less crazy. However, it's important to recognise whether this is just the typical whirlwind of getting a new business off the ground or whether the time has come to grow the team. The first step...
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Listen to your market and always be ready to pivot your idea - New Frontiers - Pierce Dargan

Listen to your market and always be ready to pivot your idea

By New Frontiers blog
In this blog, New Frontiers alumnus Pierce Dargan discusses his decision to pivot his business idea and what has gone into building a strong and successful startup. Pierce was careful to get extensive feedback from prospective customers and research his idea thoroughly before making his decision. When I started working on my own business, over four years ago, it was on a very different idea. Part of the entrepreneurship module for my masters at Trinity College was working on a startup idea. Mine was a marketplace for farmers to look for products and services in their area – such as feed, fencing and manure disposal services – so they could compare prices and make informed choices about suppliers. My background is...
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4 actions entrepreneurs need to take to scale up quickly New Frontiers Entrepreneur programme (1)

4 actions entrepreneurs need to take to scale up quickly

By New Frontiers blog
So, you think your startup is scalable. You’ve looked at your turnover, you’ve studied the market and you believe your business could handle a bigger piece of the pie. That’s great, but growing your business successfully requires not only a shift in operations but a change in mindset. With all the research and speculation that goes on in the business industry, you can be sure there are known habits and practices that successful entrepreneurs adopt to grow their business. We’re going to share a few of them with you to get you started on your road to success. Scale up your startup with these great business tips 1) Visualise success and set a deadline for it The first step to...
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A framework for founders how one VC thinks about pre-seed investments - New Frontiers

A framework for founders: how one VC thinks about pre-seed investments

By New Frontiers blog
‘When Frontline say we invest early, we mean it.’ At Frontline, 70% of our investments have been pre-revenue and 60% pre-product. At Pre-Seed and Seed, there is little to be learned from intensive quantitative analysis pre-investment (woo). That said, over the past year and a half at Frontline, I’ve built a qualitative framework, designed around four key questions, to help me quickly assess the companies I meet. Together, I believe that these four questions are critical in predicting success.  1. Can you convince me to quit my job? The first question I ask myself is, would I quit my job at the fund and work for these people on this problem? I know, it seems like a completely crazy idea, you...
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New Frontiers - the food business when is a trend not a trend

The food business: when is a trend not a trend?

By New Frontiers blog
Understanding and using trends to develop sound business opportunities can be a complex area. In the food sector, for example, there are numerous macro and micro trend reports published every year, but what does a start-up food company really need to consider, when determining whether an idea is actually commercially viable? Trends can mean different things to different people. It’s a much bandied about term, mainly used to describe things that are currently popular or that are predicted to become popular. Essentially, broad shifts in consumer behaviours, attitudes and values drive changes which become identifiable, marketable trends. Typically, trends are (or should be) the starting point for a good business idea. A way of quickly and inexpensively road-testing your idea...
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How to decide whether to outsource or keep everything in-house - New Frontiers

How to decide whether to outsource or keep everything in-house

By New Frontiers blog
Growing your business beyond the startup phase means making some big changes with regard to how your company operates. In a startup, it’s an all-hands-on-deck situation for the close-knit team; communication is a breeze because the company isn’t a sprawling organisation yet and at any given moment you, the founder, can be found jumping between roles, keeping tight control over everything. However, as you scale up, it quickly becomes apparent that the advantages that made you a startup success could now be the very things that are holding you back. The small team needs to grow so you can keep up with demand and remain competitive, it’s no longer efficient for you to be the last one to sign off...
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A strong employer brand is essential for attracting top talent - New Frontiers programme Ireland

A strong employer brand is essential for attracting top talent

By New Frontiers blog
At the beginning of 2019, the unemployment rate was the lowest it has been in 10 years, at 5.3%. This is good news, but it also means that Irish SMEs are struggling to attract and retain top talent. There is no denying that a high salary has a reliably magnetic effect, but it is far from the only reason why people choose to work where they do and how long they stay with a company. FDI companies are enjoying a large slice of the talent pie with 229,057 people currently employed in the sector, making competition fierce for smaller indigenous businesses. For Irish SMEs wanting to attract the right people with the right skills, it is vital to tap into...
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Financial advice every entrepreneur needs to hear - New Frontiers - Ireland (1)

Financial advice every startup entrepreneur needs to hear

By New Frontiers blog
Make sure the money coming in is more than the money going out - that’s the crux of accounting, right? Well, that’s not bad advice, but it’s not exactly helpful either. The day-to-day, month-to-month monitoring of a company’s finances requires a more detailed approach if you aim to make a profit, identify new opportunities and grow your business. If you want your company to thrive beyond the shaky startup phase, past the inevitable “bad year” and towards a stable and profitable future, then you need to ensure your company is financially healthy. What does that mean? A financially healthy company has the appropriate strategies in place to maintain regular cash flow, be protected during rainy days, secure profits, invest wisely...
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Unleash your inner cyborg and start automating tedious work tasks! - New Frontiers - Enterprise Ireland

Grow smarter and faster by automating tedious work tasks

By New Frontiers blog
The buzz around automation is only intensifying as companies continue to discover new ways technology can make businesses smarter and more efficient. The human element of work is evolving as we get better at using technology to our advantage, allowing us to give more time to the areas that need our attention the most. In fact, our relationship with technology has become so symbiotic that leading tech entrepreneur Elon Musk believes we are already cyborgs! The definition of a cyborg accord to Oxford Dictionaries is: “A fictional or hypothetical person whose physical abilities are extended beyond normal human limitations by mechanical elements built into the body.” Your smartphone may not be directly wired up to your brain just yet (watch...
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product-market fit and finding your sweet spot - New Frontiers

Emer O’Donnell chats about product-market fit and finding your sweet spot

By New Frontiers blog
If you are unsure about what product-market fit is, ask yourself are customers banging down the door? Instead of manufacturing demand for a product or service and relying on the hard sell, product-market fit is when you have found a sweet spot in the market and customers’ needs mirror the unique value you offer. A Qualified Executive Coach and regular Enterprise Ireland and New Frontiers trainer, Emer O’Donnell has spent 15 years helping companies to locate their sweet spot and grow. I sat down with her to find out more about this business strategy which turns build it and they will come on its head and puts customer needs in the driving seat.   Let’s start off with the obvious...
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Insights The five WHYs of the New Frontiers programme - Colm Ó Maolmhuire

Insights: The five WHYs of New Frontiers

By New Frontiers blog
As an entrepreneur, deciding to apply for programmes such as New Frontiers will have a significant effect on the development of your business, but it's important to thoroughly asses both your motivations and chances of success. In this blog, New Frontiers Programme Manager at IT Blanchardstown, Colm Ó Maolmhuire, looks at five key questions you should ask yourself. One of the techniques all entrepreneurs and managers need to use, in drilling down into and analysing their business proposition, is the ‘5 Whys’ format. In my experience, any founder needs to take stock and do some serious analysis after Phase 1, for their critical ‘Go/No Go’ decision, and that included deciding whether or not to apply for Phase 2. The alternative is...
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Lean Startup using customer-focused development processes

Lean Startup: using customer-focused development processes

By New Frontiers blog
Originally published in 2011, The Lean Startup by Eric Reiss was an important moment in the history of startups. The book sets out a clear approach to developing new products and services that has established itself as the standard framework that startups now use to turn ideas into companies. At its core, The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses proposes that startups use a build, measure, learn framework in an iterative product development cycle that places the customer at the heart of the process. With each iteration, the lean startup method brings the company closer to achieving product-market fit by developing a product that serves a real customer need. Get out of the building...
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New Frontiers National Networking Event - March 8th 2018 - Red Cow Hotel Dublin

The importance of networking for New Frontiers participants

By New Frontiers blog
Joe Healy, (Divisional Manager, High Potential Start-ups, EI) - Minister Heather Humphreys TD, Minister for Business Enterprise and Innovation - Maria Gavin (Programme Manager New Frontiers, EI) Of all the feedback received from entrepreneurs over the years, one key benefit of the New Frontiers programme stands out consistently: how crucial networking and peer support has been for their entrepreneurial journey. New Frontiers participants get a wide range of supports on the programme. For some, learning sales and marketing skills, or successfully pivoting their idea, or preparing for export are the difference between success and failure. But another characteristic of the programme is that it’s cyclical, and all entrepreneurs (typically, around a dozen at each location) start at the same time...
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Competitive Start Fund Regional New Frontiers Enterprise Ireland

Take your startup to the next level with Competitive Start Funding

By New Frontiers blog
Are you a start-up based outside of County Dublin? The latest call for Competitive Start Funding (CSF) is currently open and offering ten startups up to €50,000 each in equity funding. In support of regional enterprise development and job creation, this call is specifically for all regional entrepreneurs with global ambition. Enterprise Ireland's CSF is for the startup that is ready move up a gear and bring value to Ireland on an international scale. Does your product or service have overseas market potential? CSF can accelerate the growth of your early stage company, so you can reach internal and external milestones with a sustainable business. Call closes: Tuesday, 13th March at 3pm It is time to think big! CSF welcomes...
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Mistakes to avoid when product testing - Gerard Comerford - New Frontiers

Mistakes to avoid when product testing

By New Frontiers blog
Testing your product is the most important activity your company will undertake. It validates that there is a market for your product and helps you iterate the product for that market. Here is a breakdown of the most common mistakes when product testing and how best to avoid them. The mistake of testing without a hypothesis One of the fundamental mistakes is testing your product with consumers as quickly as possible without a hypothesis - i.e. a grounded assumption of the product’s purpose/goal for a defined customer. Product testing is simply an experiment to test your hypothesis or assumptions. Based on the results of the experiment, the hypothesis is either proved or disproved; without a hypothesis, testing your product is...
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Gavin Duffy - RTE Dragon's Den promotional imagery by Ruth Medjber www.ruthlessimagery.com

Gavin Duffy on the changing face of business success

By New Frontiers blog
If you’re anything like me, you’ll find Dragons’ Den on RTÉ compulsive viewing. It’s amazing to see the varied and imaginative solutions people have come up with – often to problems you didn’t even know existed. Listening to the Dragon’s questions gives a lot of insight into the thought process and approach of experienced entrepreneurs. I always take notes that I apply to my own business, and I’m sure I’m not the only one. So, it was with great excitement that I learnt an interview had been set up with Gavin Duffy – the only Dragon to guard the Den since the show started in 2009. Gavin was already a successful businessman by the age of 17, and has gone...
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Richard Mc Manus Exhibition tricks and trips New Frontiers

Exhibiting your startup: a 25-step checklist for excellence

By New Frontiers blog
Trade shows and exhibitions are an invaluable opportunity that's often underused by early-stage startups. However, it's a mistake to view them solely as a sales tactic. In this blog, Richard Mc Manus looks at other reasons to exhibit at shows and fairs, the lessons he has learnt from attending some 40 events with his startup, and gives us a 25-step checklist for exhibition excellence! You must be mad! Unless you are selling food for the hungry or hurley sticks at the Ploughing, you do not make money at exhibitions. Since graduating from the New Frontiers programme in 2015 my start-up, Cara Mara luxury seaweed baths, has participated in around 40 exhibition events. I hope that many business owners and managers, especially...
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scriba - dublin design studio/david craig new frontiers alumnus

Featured startup: Dublin Design Studio (Scriba)

By New Frontiers blog
David Craig is the founder of Dublin Design Studio and inventor of Scriba, a new generation of stylus for mobile devices. David wrote an article for New Frontiers over two years ago, recalling his journey through the early-stage development of Scriba, up to its highly successful Kickstarter campaign in August 2015. We thought it would be a good idea to catch up with David, as he prepares to send out the first batch of Scribas to his Kickstarter backers. It’s been a longer production period than expected, but the product has undergone a few significant improvements, which David hopes will make it worth the wait. Let’s get back to summer 2015. The team had already experienced the trials and tribulations...
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WKI Developing your Market Attack Plan - in four steps New Frontiers

Developing your market attack plan in four steps

By New Frontiers blog
So you’ve completed your market research and analysis. You’ve found a great opportunity to exploit. The solution you have will give you an edge over other approaches and will offer real value to the client. You’ve spent the last couple of months building out the team of advisors and have some friends who’ve agreed to help you with branding, marketing, helping to write a business plan or to get the financials together... Everything looks great – you’ll definitely need 10 people on board within the next few years to support the €1 million turnover you’ve set as your year three target, especially as you’ll enter foreign markets towards the end of year two. Sound familiar? But have you created your...
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If you don’t have a story you are just another commodity New Frontiers

If you don’t have a story, you are just another commodity

By New Frontiers blog
A single bead of sweat rolled down my forehead as I mustered up the courage to say the words. We had been coming to this coffee shop for years. We had argued over football scores, TV programmes and politics as we sipped our coffee and took in the world passing outside the large window. I was telling my best friend I was gay that day. Of course, he didn’t care and soon enough we were back arguing over football, TV and politics. Six years later in the same seats, he would tell me he was having his first baby. Same seat, same coffee, same place. My local coffee shop doesn’t just sell coffee My local coffee shop doesn’t just sell...
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Value Proposition and Channel to Market New Frontiers

Value proposition and channel to market

By New Frontiers blog
We all know that setting up a new business is almost always an uncertain journey, one that can bring enormous swings, from exhilaration one day to doubt and fear the next. There are many reasons why we subject ourselves to this stress - creating a job for ourselves, escaping dull or unsuitable work, a bad boss, or just the simple desire for increased wealth. After all, who would not wish to achieve financial independence? The entrepreneurial rollercoaster The chance to create something from nothing, to see an idea in your head develop and work, either in the form of a new service or new product, is incredibly motivating and, when successful, enormously satisfying. “I did it my way” as the song...
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Starting up how to beat entrepreneurial isolation

Starting up: how to beat entrepreneurial isolation

By New Frontiers blog
My business was set up to help those who might be suffering from social isolation, and yet that is exactly what happened to me in the first 12 months of my startup. Since identifying it and talking to others, I have found that this is an issue that can and does affect a lot of business owners, especially those in the startup stage. I want to share with you how it happened to me, but more importantly how I identified it and managed to overcome it, just before I threw in the towel. The unsuccessful success Like most startups, money was limited when I began planning my business venture. Therefore, working from home was the perfect and only solution. I...
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The key traits of successful entrepreneurs New Frontiers

The key traits of successful entrepreneurs

By New Frontiers blog
While there are various traits that can help to equip a startup founder, there is no magic formula or template. I’ve met lots and lots of founders over the years, including people of all personalities, backgrounds, shapes, sizes, ages, etc. There have been lots of great people whose ventures haven’t worked out; and a few dark horses along the way who have entirely flipped any initially negative impressions. I have worked closely with startups since 2000, most recently as Enterprise Manager at IADT, where I managed the New Frontiers programme and the Media Cube Incubation Centre. Previous roles spanned stints of employment and self-employment, working with organisations like InterTradeIreland, Local Enterprise Offices, County Partnerships, DIT, Enterprise Northern Ireland and various consultancy practices....
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New Frontiers programme How personal experience shapes my startup vision

How personal experience shaped my startup vision

By New Frontiers blog
According to Sir Richard Branson, "The ideas for the best businesses tend to come from personal experience. There are many great ideas that have arisen by other means… but when you are generating ideas for a business, first-hand experience is essential." This certainly resonates with me and reflects the inspiration behind my company, Itchy Little Monkeys. My startup offers solutions for kids with eczema. Our products are designed to remove the stress eczema can cause both children and their parents, which is something that I have experienced first hand. Let's examine why Richard Branson feels personal experience is important and what that means for my business. 1. "Personal connection equals commitment" My daughter Sienna is the inspiration behind setting up the...
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Business strategy why it matters and how to do it

Business strategy: why it matters and how to do it

By New Frontiers blog
Years ago, when the internet was in its infancy, I was part of a study group that developed a business plan for Intergift, an online shop that would sell books, CDs and other 'gifts', complete with reminders for birthdays, anniversaries. Sounds familiar? A year later, Jeff Bezos would start a company called Amazon in his garage. The point is that loads of people have a great idea. It's the people who make a decision to prioritise and act on the idea - and then stay with it - who reap the rewards. We did actually set up a company and made some attempts to get something off the ground. However, looking back, what prevented us delivering on a great idea was...
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New Frontiers Business expansion scaling your startup

Business expansion: scaling your startup

By New Frontiers blog
Any small company that has tried to expand will tell you that it's a tricky business! Expansion - whether it’s increasing the number of staff, adding new product lines or more retail locations - brings an array of potential problems and headaches. The risks of scaling your business are real, and they are as problematic for young startups as they are for large, established companies. But, in identifying the risks, you can work out solutions, learn from others who have faced the same challenges, and become more confident in forging on with your business expansion plans and strategies. For my own startup, the Irish Biltong Company, our expansion plans are continually growing as new markets present themselves to us. I've found that the key...
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Using SaaS metrics and resources to bulletproof your startup’s growth

By New Frontiers blog
Understanding the health of your SaaS (Software as a Service) business is crucial, but you need to be looking at the right metrics to accurately measure it. This article brings together some of the excellent online (re)sources that are available to the startup software entrepreneur looking to deepen their knowledge of this area.  This is my quick reference guide to the battle-hardened experts who’ve earned their scars in the SaaS trenches, and who wanted to make it easier for SaaS entrepreneurs like you and me as we follow intrepidly in their footsteps. Where did I find these awesome resources? Most of the resources I have come across were from experts I follow on Twitter - either blog posts they wrote themselves, or others...
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Building your brand is about sharing your vision

By New Frontiers blog
Vision is a picture of the future; it’s how you imagine your startup, where it will be in the years to come and the values it will hold. Vision provides direction and acts as a constant reminder of what you have set out to achieve. If you can learn to share that vision, you’ll be able to grow support for your budding enterprise. Starting out, we wanted to convey of our vision for how people might interact differently with mobile devices. However, during this early stage of shaping the idea, the actual process can make this difficult, especially when you are being advised to protect your intellectual property (IP) and open up at the same time. Once we had lodged...
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John Teeling on entrepreneurship and the future of business

By New Frontiers blog
We thought we would speak to one of Ireland’s leading businessmen to see what tips and insights he has for Irish startup entrepreneurs in 2015. Teeling is known for his straightforward approach and boundless energy. Despite a punishing schedule, he found the time to speak to me from his offices in Clontarf, giving me a hint of the openness and positivity he so clearly brings to everything he does. For those of you who have been living under a rock for the past few decades, John Teeling is the intellectual, globe-trotting founder of Cooley Whiskey and the man who has had more companies listed on the London Stock Exchange than anyone else from Ireland. With current interests predominantly in energy and mining, he’s...
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Market Research: a key component of business strategy

By New Frontiers blog
The Enterprise Ireland Market Research Centre is located at our offices at East Point Business Park, Dublin. Client companies can access the most up-to-date information on a vast range of markets, sectors, companies and countries, either in Dublin or at our regional locations. What is market research? Neil Armstrong defined research as a “means to investigate something you do not know or understand.” This definition can also be applied to the more specific area of market research. There are two types of market research: primary and secondary. Primary market research involves collecting data from its source (e.g. by surveying customers). This type of research is usually used by the company itself. The other type of research is called secondary research (or “desk research”)...
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Tendering to win: the importance of competitive intelligence

By New Frontiers blog
"To know your Enemy, you must become your Enemy" said Sun Tzu, in the Art of War. Sometimes, competing for business can seem like a battle - with the odds stacked against you and the chances of success slim at best. However, all is not lost. Competitive Intelligence (CI) is a key weapon that will level the battle field and allow you to compete with the advantage of knowledge on your side. Competitive Intelligence is the ethical gathering and analysis of competitor, customer and market information from open sources. This analysis is used by organisations to make better strategic decisions. It is the difference between competing and winning. Why should I care about CI? Your organisational survival may well depend...
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How to craft your Value Proposition – a tool and a formula

By New Frontiers blog
A Unique Value Proposition (UVP) is extremely important for every startup business. It is the answer to the question: What is it that makes your product or service different, unique and most importantly will persuade people to buy from you? The problem for early-stage promoters is defining the essence of their solution and communicating it concisely. This article will outline a process for crafting your Value Proposition and outline some examples from participants on New Frontiers programmes. UVP is a critical component of any marketing strategy A strong value proposition is the first step in deciding how a business is going to market its solution. It goes to the heart of what the business does (or does not do) and why...
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