Starting up a business – exercise 1
Thousands of workers in the UK decide to set up their own business each year. Jamie Murray-Wells, the CEO and founder of GlassesDirect, was one of them. Here he outlines how it all happened.
Exercise 1
1 Did Jamie visit the optician’s because he was long-sighted or short-sighted?
2 How much profit (according to the figures supplied) was made on the metal-framed glasses he bought?
3 How much of his initial finance went on the website?
4 How did Jamie manage to hold onto the money he was earning from the business for 2 months?
5 Did Jamie find taking on a lease for some business premises exciting?
6 How much money does he seem to think he has saved the British public?
7 Jamie found out, soon after starting his business, that his initial outlay was insufficient to ‘grow’ the business. How much more money did Jamie then have to raise?
8 What did it take to get some venture capitalists to invest in his company?
9 Who invested in him?
10 What does Jamie describe as a big risk?