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SPACE Five Things You Need To Know About The World’s Best Collaborative Workspace 1. We Sounded The Starting Pistol Central Working pioneered the shared workspace market in the UK. Launching in 2011, our network now includes five beautifully designed clubs across London and Manchester and we cater for over 1000 members, helping businesses of all shapes and sizes to grow. 2. We Help You to Grow We work with our members day-to-day, sourcing last-minute suppliers, matching them to potential collaborators and introducing them to prospective clients. We guarantee that if you don't get useful connections you get your money back 3. We Know The Headaches of Growing Your Business Central Working CEO James Layfield is all too familiar with the challenges faced by entrepreneurs. Headhunted by Richard Branson at 23, James became Virgin’s youngest ever Managing Director before going on to set up five successful businesses himself. 4. We’re Not Into Gimmicks Forget ping pong tables and free beer – if it doesn’t help you to grow your business and make more money we’re not interested. 5. We partner with the biggest companies to help you grow Central Working’s success has been recognised by some of the world’s biggest companies. We’ve been chosen by the likes of Google, Barclays, Microsoft Ventures, and E&Y to deliver environments that help them work with smaller businesses and innovate. Find out who we are: centralworking.com 34
co.uk Imagine you've got an awesome app idea - you've got a meeting with a dragon investor, and you walk in with your pitch: "I've got an app that's a game-changer - it'll be worth millions - I'll give you 35% if you fund it's development." That's it. No valuation, no budget, no business plan - nothing on how you'll grow the userbase, zero. My guess is you'd be laughed out of the room and yet this is what I get time and time again -- the latest one described a "game changing interactive mobile app" which would generate £3 million a month from just 10,000 users. Yet the app was free, had no in-app purchases and the money would come from advertising and commissions. Oh, and those 10,000 users? How would they get them? "Somehow" I was told. The best part of "deals" like this is that typically the wannabe entreprenuer would be keeping their full-time job while their "partner" would have to give up an income to build this dream app. I'm not saying all app developers wouldn't consider an equity or partequity deal, but if you're a looking for this kind of arrangement, do it right and treat them like an investor, because that's exactly what they're doing. Be prepared before you approach them and to answer some difficult questions. In short, be as prepared as you would have to be if you walked in front of a Dragon or *any* investor. As for the game-changer? I'm out. Subscribe www.bouncingfish.com 35
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