7 Reasons Why Canberra Entrepreneurs Need a Lighthouse

1.       You need to know whether your business idea is valid. 

You don't want to waste time and money on a concept that has already been tried, and failed, for reasons that are simply not obvious to you at this time.

Lighthouse has the experience and networks to assist in verifying whether your invention or idea is feasible.

Everyone knows that the old adage, ‘if you build it, they will come' does not apply in the world of business.  Nevertheless, the patent literature is full of bright ideas that will never see the light of day. Lighthouse can guide you through a process to understand whether your idea is feasible and whether the target market for your idea is accessible.    We might even be able to suggest markets or applications of your idea that you hadn't even considered. Even if you don't have any formal IP protection in place, all of our consultations are in the strictest confidence so you don't have to worry about us stealing your idea.  We succeed only if you achieve success.

Early-stage entrepreneurs, particularly technologists, must learn the strategies for and the importance of market validation.  There is no point in inventing something if you can't build a market for it (even if the market doesn't know that it needs it yet).

2.       You need business based information

  You need useful and manageable bits of information now on topics that are pertinent to your getting your idea off the ground.

Lighthouse offers a range of high-value events and programs on technical topics and macro economic trends delivered by recognised subject-matter experts that are pertinent to your business.

Entrepreneurs don't have a lot of time or money to go to courses, seminars and events.  Lighthouse uses its knowledge of business development and concept commercialisation to tailor its events to reflect the issues, concerns, opportunities being faced by business and individual entrepreneurs in Canberra and the region.   As a not-for-profit, we work hard to offer our events to you as inexpensively as possible.   Any event delivered with our brand has been specifically developed for or highly tailored to our market based on our everyday interaction with real businesses and individuals.

 Many Lighthouse events are purposely kept small so that participants have ample opportunity to ask specific questions.

The events are presented in easily digestible chunks.  The aim of these events is not to overwhelm you with information but provide you with tools that you can implement immediately.  And more importantly, the information is put in to a start-up business context.

3.       People buy from and invest in individuals they know and trust. 

You need to broaden your networks so that you can gain access to prospective partners, investors and early customers.

Lighthouse offers access to mentors-individual entrepreneurs who are committed to seeing new business thrive in Canberra and the region.

Lighthouse maintains a broad mentor network which we draw from in order to assist clients.  At our request, our mentors volunteer their time to work with companies or individuals on an ad hoc or on-going basis.  Clients may have specific questions or issues around exporting or recruitment, or they may be looking for on-going assistance in order to raise money for the company.  Our mentors are prepared to assist in a range of capacities.  Some mentors have even gone on to invest in their mentee companies, join the management team or even become company directors.

Entrepreneurs want help from people who have ‘been there, done that'.   LH mentors are people that you've heard of-successful, local entrepreneurs who are also passionate about giving back to the Canberra community.

We have links with private and institutional investors in the ACT and where appropriate you will be invited to network with these people, not only to discuss investment issues, but also to benefit from their views and insights on doing business. 

We can also identify potential partners were appropriate.

4.       You still need money to live and survive whilst starting this business and your savings can only take you so far. 

So, you need to raise money for your business ASAP

Lighthouse understands the pre-seed and seed investment market and can help prepare you to expose your business opportunity to a range of private and institutional investors

Lighthouse is supported by Epicorp Limited an investment fund which maintains a portfolio of  ICT companies based locally and interstate.  It is also closely involved with the local investment community through Capital Angels.   Lighthouse staff members include former Investment Managers who are highly experienced in identifying and developing investible businesses.

We can also identify possible linkages for you to deliver or partner in the delivery of services.

 We can also help you understand how to ‘manage' your money, by introducing you to sound financial disciplines and the basics of bookkeeping and financial control.

 

5.        You are frustrated and overwhelmed by the complexity of starting and/or growing a business.

Lighthouse is a friend you can trust and re-visit at any point on your business journey.

Your Lighthouse Advisor recognises that you are an individual and not just a business.  You may be juggling a business along with family obligations or even another full-time job.  We are flexible and accommodating-meet when you are available and tailor our expectations to your circumstances.

Starting a business can be an extremely challenging time emotionally.  Many businesses both start and, unfortunately end in the shed or at the kitchen table because the person who comes up with an idea isn't always able to execute a business plan and strategy to bring it to life.  Lighthouse wants to fortify you with information and introduce you to people who are equally committed to seeing your business succeed.

 

6.       You need an accountant, lawyer, marketing, HR, sales, business planning consultant and you can't afford them all. 

 Relying on recycled contracts, business plans and templates freely available on the internet is a trap that can wreck your business before it is even off the ground properly.  Get real advice early.

As a not-for-profit, Lighthouse can offer many of its services and programs at non-commercial rates.  It has also partnered with a range of commercial providers who are willing to structure their services ways that are attractive to very early-stage companies.

Lighthouse offers two levels of support.  First, our business consultation and mentoring services are completely free subject to our mutual agreement regarding your suitability.   For a more long-term engagement, we invite clients to join our Business Acceleration Program on a month-to-month, fee for service basis. The services provided will vary based on individual requirements.  It's the ‘no one model fits all' approach. We are essentially providing additional team members for the business to help them through that particular phase of development.

 

7.       You are tired of the ‘doom and gloom' and are determined to position yourself and your business for the financial recovery to come.

Lighthouse's mission is to ‘shed light' on the business development process through high-value programming, mentoring, coaching and referral.

Lighthouse is committed to help individual entrepreneurs succeed.  So, even if we are not specifically able to help you, we would like to opportunity to refer you to a range of service providers, not-for-profit member organisations, mentors and other programs that may be more appropriate for you. We really are, ‘here to help'.