Pouring Pounds is a new cashback and voucher website in the UK that allows users to earn cashback when shopping online at over 2,000 retailer partners. Users shop as normal at retailer sites after clicking through from Pouring Pounds, and then receive a percentage of their purchase amount back in cashback. Pouring Pounds earns commission from retailers for driving business to their sites and shares most of that commission with users in the form of cashback. The founder, Swati Bhargava, previously worked at Goldman Sachs and started Pouring Pounds to help individuals and businesses save money on online shopping.

1. FROM BANKING TO ENTREPRENEURSHIP – PRACTICAL TIPS ON
O G O U S C C SO
STARTING YOUR OWN BUSINESS (BY SWATI BHARGAVA)

2. What is Pouring Pounds?
HOW DOES IT WORK?
 Pouring Pounds is an exciting
W
new cashback and voucher website in the UK
(www.pouringpounds.com)
 The benefit of Pouring Pounds for individuals and businesses, alike, is to save money on all their
usual online shopping
T
 We already have a retailer partner network of over 2,000 retailers, which is amongst the largest
in the UK
 Whenever users visit these retailers via our website, they get a percentage of the money spent
back i.e. a cashback on their purchase. For example, if you booked hotels worth £500 on Expedia
and Expedia is offering 6% cashback, you would get £30 back on your purchase!
 Users shop at the retailer websites as they always have, but now earn a cashback
 The cashback comes from the commission retailers offer us for bringing business and we share
most of that with our users
Shops as per normal
User joins PP Clicks on Expedia’s and lets say, books a
for free link on PP hotel room for £500
PP passes this to user as cashback. Expedia pays PP referral
In this case if cashback offered was
s case cas bac o e ed as commission for bringing
g g
6%, user gets £30 back! business
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3. The Idea!
SHOULD I, OR SHOULD I NOT?
 What is the basic function that your product serves? How does it make people’s
life easier/what need does it meet?
R
 What is your revenue model – how do you make money?
 Who will be your suppliers and buyers?
D
 Current competition – how are you different?
 Can your idea be very easily copied? If yes, then what steps can you take to
establish your competitive advantage ahead of others?
establish o r competiti e ad antage ahead of others?
Once you know for yourself that you have the answers to all these questions
AND if you REALLY believe in the idea, you are good to get started!
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4. Domain Names – some thought and a lot of luck!
WHA IS IN A NAME? A LOT!
AT
 Start thinking of domain names
 MANY of the ones you think of
y
A
will not be available
 It will take you longer than you
think to find the right name
think to find the right name
 You can buy domain names
from many websites, can see a
list on Pouring Pounds:
Office> Domains & Hosting
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5. How do I get yourname@Mycompany.com Email?
MY OWN EMAIL!
 Using Google Apps is a simple and easy way to setup your business email
accounts
 You will need to verify domain ownership by uploading a simple file and your
web development team can help you easily
 Simply sign‐up at http://www.google.com/apps/intl/en/business/gmail.html
 Initially the Standard package should be adequate and you can create up to 50
free accounts
 G
Google allows you t use all th great f ti
l ll to ll the t functionality of G il and G
lit f Gmail d Google
l
Applications for free on their standard package
 However, if you are looking to send mass newsletters and emails to large number
, y g g
of people then using an email service from your hosting service providers is a
more viable and scalable option
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6. What is the right legal structure for my company?
LEGA CORR !
ALLY
 Detailed info on Business Link website: http://www.businesslink.gov.uk/
 Four common legal structures:
RECT
1. Sole trader (all profits go to you / unlimited personal liability)
2. Partnership (team contribution / unlimited liability)
3. Limited liability partnership (personal liability limited / more complex & costly
formation)
4. Limited liability companies – most popular! (personal liability limited / extra
y p p p (p y /
legal duties and filing of accounts)
5. Franchises (good brand name / limited freedom & possible revenue share)
Social enterprises (businesses that trade for a social purpose & often re invest
Social enterprises (businesses that trade for a social purpose & often re‐invest
profits e.g. community development trusts, housing associations, worker‐owned co‐
operatives, leisure centres)
Usually this info is enough to decide what structure is most appropriate – you can
call an accountant (for free) to double check.
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7. How to set up my company?
EASIER THAN YOU THIN !
 Company formation services like Companies Made Simple
http://www.companiesmadesimple.com/
e.g. Silver package for £50 – company formation within 3 hours , registered office
address, fast track Barclays business bank account
 List of recognised company formation agents:
List of recognised company formation agents:
NK
http://www.companieshouse.gov.uk/toolsToHelp/formationAgents.shtml
 Companies House: http://www.companieshouse.gov.uk/ ‐ Great resource to
research a company that is privately owned. They need to file their balance sheet
h h i i l d Th d fil h i b l h
there
 Other things to think about:
g
• VAT registration
• Copyright
• Trademark
• Pi
Privacy policy / Data Protection Act
li / D P i A
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8. Your website – the first point of contact for many users!
WEB
BSITE DESIGN & DE
 Design options
• Check out websites where you can hold online competitions between 1000s
of registered freelancers:
• www.99designs.com, www.elance.com, www.designcrowd.com
EVELOPM
 Contract individual freelancers for various needs: www.peopleperhour.com
 Video to explain your concept: www.elance.com, self‐made videos loaded on
MENT
you tube!
you tube!
 Voice‐overs: www.voices.com
 Website development
• See examples of the exact thing that you need
• Try to get testimonials and reviews from past clients
• Negotiate staggered payment which is market standard: 50% upfront
• Fully integrate social media
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9. While the business set up is going on, start getting out there!
GOO OLD NETWORKI
OD
 Get on Twitter!
 Attend Tweet‐ups
 Funding contacts and support e.g. Microsoft Bizspark, Seedcamp, Astia
 Entrepreneur focused organisations like TiE. Especially important when you are
Entrepreneur focused organisations like TiE. Especially important when you are
ING
entering a new sector
 Blogs about your industry: Mashable, Techmeme.. Even Cybermummy 2011
(largest blogging conference for mum bloggers)
(largest blogging conference for m m bloggers)
 Trade shows: http://www.exhibitions.co.uk/
 Special emphasis on Linkedin for a professional connection with pretty much
anyone
Find support networks and build new contacts
Find support networks and build new contacts
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10. Marketing Strategy
WHE ARE U
ERE
 If possible, start with targeting a niche
 Social media strategy: first for broadcasting, and slowly for engagement
USERS GO
1. Twitter –not over load of tweets
2. Facebook – more engaged strategy, more difficult
more engaged strategy, more difficult
OING TO C
3. Linkedin
4. Digg, Stumble Upon, Delicious – for posting blogs and articles
4 Digg Stumble Upon Delicious for posting blogs and articles
COME FRO ?
5. Quora?
OM
 Tools like Hootsuite, Tweetdeck
 Social media metrics: as important as database today
 Email marketing – design email templates and newsletters
 Offline marketing per strategy
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11. Driving Traffic to your website
CREA
ATING THE BUZZ….
 Blogging: to engage people who have signed up and to get new users interested
 Search engine optimisation: the right titles, meta tags, link building to increase
your page rank
• Backlinks!
• SEO Consultants
• Hubspot: http://www.hubspot.com/
• Social Media Examiner: http://www.socialmediaexaminer.com/
• Facebook Success Summit, Social Media Success Summit
• Case studies, blogs about how to increase website traffic, specific strategies
• Sign up for free updates
Sign up for free updates
 Engage press/media: Look up journalists who write about your field. Write to
them, follow up, chase
 Find journalists on Linkedin & Twitter
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12. Recommended books!
SELF TAUGHT, AND TH BEST!
 Marketing Warfare by Al Ries and Jack Trout
 The Social Media Marketing Book by Dan Zarrella
 Unleashing the Ideavirus b Seth Godin (
l h h d by h d (considered to b the most d
d d be h downloaded
l d d
e‐book of all time)
 Online marketing inside out by Brandon Eley
HE
 Good to Great by Jim Collins
 Autobiographies of anyone you admire
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13. LETS TALK!
Background & Contact Information
S
 Swati D Bhargava (CEO & Co‐founder) was working at Goldman Sachs for the last
5 years. Swati recently resigned from Goldman to start Pouring Pounds
I t i
Interview on e‐financialnews.com
fi i l
http://www.efinancialnews.com/story/2011‐03‐01/swati‐bhargava‐life‐after‐the‐
city
 Pouring Pounds has also been featured as the Start up of the Day by Microsoft
Bizspark: http://ht.ly/45NaO
Contact Info
Swati Dhawan Bhargava
swati@pouringpounds.com
Twitter: @Swats26, @pouringpounds
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