Case Study: Zamsana
From Entrepedia: The Entrepreneurship Wiki
- Quoting Manju Fernando
Zamsana
Zamsana offer the latest mobile phone software to help you run your business faster and smarter. With a simple intuitive interface and full PC backup it's the simplest way to place customer orders, control stock and speed up distribution all from your mobile phone.
Focused on the often neglected small business sector, Zamsana provides enterprise grade solutions without costing the earth. The product range reflects specific needs of the small business and will be extended over the months ahead with your help.
Manju Fernando
Manju Fernando started an MBA in Edinburgh, and gained experience in sales before starting first company in Asia. He had no notion about business at all, just the feeling to "have to do it"; Fernando joined his former boss and team for second startup in US. After having been bought out, took time out for a while but got soon bored, until the differences of the UK market with 80% SME companies (Small-to-medium enterprises) pointed out a gap in the market for re-development of an old business idea. Fernando won the Edinburgh University Management School's Business Plan Competition, and is currently on the Launch.ed scheme
Tips and Experiences
Set yourself up with the right infrastructure - The ETTC (Edinburgh Technology Transfer Centre) offers great accommodation and services.
Get your legals covered right from the start: company registration, article, employment contracts etc. Find good advisors, lawyers, accountants:
- Interview potential people first on no obligations basis
- Ask friends for recommendations
- Network!
- Learn how to get access to the right resources, for example through Scottish Enterprise
- Do a thorough financial forecast with your accountant, and plan for cash buffers - VC investors might not keep their promises
- Spend more time on selling, rather than looking for investment money
- Explore "unusual" ways of funding, e.g. Boutique Banks
- Visit industry roadshows
- Try to build your business organically
When it comes to finding the right business idea:
- Document any ideas
- Don't follow up wacky ideas - make sure to have a revenue stream
- Find someone who would buy the business / Have an exit strategy
- Remember that investors invest in people - Don't behave like a student but like a business person
- Seek any help you can get
