Business 1: JobsMK.co.uk - SOLD Year: 1999 Idea: Localised on-line recruitment in Milton Keynes Customers: Recruitment Agencies & Hiring Companies Finances: High margins, high cost of brand awareness Within 12 months Team of 4 40+ recruitment agencies 50+ hiring companies 20,000 site visitors per week Exit: Sale to recruitment agency: D&P Recruitment
Business 2: Limo’s to London - FAILED Year: 2000 Idea: VIP drinks, limo to London - club entry & home Customers: Company Parties, Socialites Finances: Person 6 was break even Within 3months 8+ limo’s per week 300+ people per month Exit: High turnover, low profit margin & burnout (lifestyle biz only)
Within three years …. Top 40 UK Tech Agency: PR Week, 2010 Winner: CIPR – Outstanding Small Agency of the Year, 2010-2011 Silver Awards: CIPR – Campaign of the Year, 2010-2011 New Media Age: Top 100 UK New Media Agency 20 retainer clients 5 x full time staff / 2 x part time staff Up’s Surpassing £250k in fee income Winning ‘Outstanding Small Agency of the Year’ Dublin, 3 days & partners Christmas Party Down’s Started July/August 2008 – Recession September 2008 Firing Staff Hiring the wrong people
The Challenges Work: work in the business, not on the business Financial: you are the CFO Personal: wife, family, friends Staff: finding, incentivising, retaining Professional: competing against old employer & loosing
The Opportunities Work: Exciting, interesting, highly motivating Financial: No one sets your wages! Personal: Proud, supportive & loving friends & family Staff: Develop and help someone grow Professional: Awards, recognition, media profile, experience
The Advice Believe in yourself – no one else will Understand your market: research, research, research Understand your business and focus 100% Employ people better than you! Make sure your business is scalable Biz Plan: 5 words – retain and get more customers! Understand what people want: power drill verses hole in the wall If bad things don’t happen, you don’t appreciate the good things that do Luck will play a part in your success – the harder you work, the luckier you will get! Don’t let anyone ever tell you you can’t do something! Take as much advice from other people as possible Chase success, not money Success is an inspiration, failure is an experience! You must be passionate about your business!
“Destiny is not a matter of chance but a matter of choice. It is not a thing to be waited for, it is a thing to be achieved”