A guide to third sector trading - WCVA

It’s an idea, but is it business? A guide to third sector trading
1: Getting
started
2: First steps 3: Business
planning
4: Legal and
governance
5: Funding
and
resourcing
6: Financial
controls
7: Managing
growth
8: Management
and
governance
9: Social
enterprise
10: Sources
of support
• raising interest generally in the exercise and showing that you
are open to suggestions.
Producing the preliminary list: You need to hold a brainstorming
meeting of the steering group and others who may be interested
or have something to contribute. A meeting of a dozen to
20 people from a wide variety of different backgrounds may
work best – local groups and charities, third sector support
agencies, businesses, local government. Here are some tips on
brainstorming for business ideas:
• Start with a brief resumee of social enterprise and why you are
doing this.
• Get stuck in to the brainstorming as soon as possible; make it
fun and get a buzz going – you get better results when people
are relaxed and engaged.
• Ask people to think about any activities which could generate
income run by the community or charitable organisation.
• Use a flip chart or notice board or wall to focus attention.
• Write down all ideas which you come up with, and periodically
back track to recap or tidy up your lists.
• Work together as a group to get the widest range of ideas based on
local knowledge – even daft ideas can set other people thinking.
• If there are a lot of you, divide into smaller groups for some
but not all of the session; don’t allow this to slow down the
momentum.
• List the existing commercial and community services and pinpoint
any major omissions or any gaps which you could exploit.
• Identify groups of people whose needs are not met by those
services – are there any trading possibilities here?
• Estimate which of those local services are particularly well
used – there may be a demand which is not being fully met.
• Try making a list of all the services or products which the
individual members of your group would like to see (a wish list
is no guide to markets, but it can produce ideas).
• Then perhaps list the reasons that these ideas would make really
bad enterprises (this is not necessarily good for team building,
but it can be great for sharpening up your critical faculties).
• Remember that good ideas are often originals - don’t always go
for the obvious, but of course also beware of the hair-brained.
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