Many people start up new businesses looking to make money from technology and innovation. But what are the realities of starting a technology-based business? The following case studies illustrate both the possibilities and the pitfalls.
SELLING GLASSES ONLINE: Three years ago Jamie was in university. Today he's the boss of ¡ê3 million company. The secret of his success - selling glasses direct to customers over the internet.
It all started when he was doing his exams and needed a pair of glasses. He believed the high street price of ¡ê150 was a rip-off - so started "Glasses Direct" a web-based firm which sells its glasses at an amazing ¡ê15 a go.
Buying is simple - you just type in your prescription into the website. You can even try out your glasses out online! But success didn't come without problems - to begin with everything was done from home and the high street retailers gave Jamie a hard time by putting pressure on his suppliers. The big secret, according to Jamie, is start small, grow big.
THE MOBILE PHONE BROTHERS: It's got a dodgy image, but two brothers claim to be bringing an "ethical" approach to the mobile phone sales business with an enterprise called Foneoptions.
The brothers literally started their call centre operation in a bedroom - but got into trouble with the neighbours. But now they're in commercial premises and aim to be the best in the business - by, they say, being honest. It's hard work and they fight all the time -- but the brothers reckon it's all worth it.
THE WEBSITE DESIGNERS: Fed up of working for someone else, Jill and Jonathan set up their own business - Futurate -- designing websites. Most of their customers are in the public sector and this involves tendering for business - a long and difficult process. Futurate almost went bust after an important client took their web-design work in-house.
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