Dear Entrepreneur. Danny Bailey
but it took my business to the next level.
7 Never be complacent – Understand your customer, exceed their expectations and listen when they say you have got something wrong.
8 Know your limitations – Try everything from managing accounts to pulling in sales, but be realistic. If it isn’t working then bring in others that can make it happen.
9 Have fun – Finally, remember why you started and focus on where you want to be.
Good luck,
Kate Castle
Inventor and Director, BoginaBag
Booking Bug
Dear Entrepreneur,
I’ve always believed that you should enjoy work. In an average job you spend half your waking day at it, for the largest portion of your life. Now I’m aware that being able to enjoy your job is a privilege, and certainly not one many people get, but if you can, if it’s possible, you should always try and do a job you enjoy.
As an entrepreneur, however, this becomes not just a nice-to-have, but absolutely vital. Completely critical to your success is the fact that you need to enjoy your normal day-to-day work. To build your business and to inspire others, if you can’t be upbeat and genuinely excited about what you do, then no-one else will be either.
When your idea is new, like a new love, everything is exciting. But once that first excitement has faded, what are you left with? I’ve known entrepreneurs who are always seeking the excitement of a new idea and a new project, but lose interest once they hit the daily grind of actually building a business. They may be lucky one day and hit upon something that makes it big quick enough before they lose interest, but the truth is that most businesses are built with hard work, sweat and tears over a longer period of time; years, not months.
The question is never “are you excited and enthusiastic about your business?” on day one, or day ten – that’s easy – but what about by day 100, or day 1,000? Three years into building your business will you still have the same puppy dog enthusiasm? Maybe, or maybe not, but that’s not important. What is important, what you absolutely must do, without question is really, really enjoy it.
I’m not talking about the occasional highs or lows, but the day-to-day activities, whatever it is that actually fills your waking hours with the building of the vision you’re creating, and the role you fulfil in shaping it. That could be anything from writing code to waiting tables, managing staff, or just having meetings and writing emails; whatever day-to-day role you take in your business. You have to love it, and not just when it’s new, but when you’re years in. If it’s a burden, if it’s a hassle, if you’d rather stay in bed, then this will show. Your staff will see it, your clients, your investors; it will be written plain across your face if you are not actually enjoying what you do. You can’t fake it, it’s not about having a smile on the outside while you’re crying on the inside; it needs to be genuine. Enjoy what you do and it will show to everyone around you.
After a bad day, when you got turned down for investment, some new competitor launched, or any one of myriad of setbacks that befall any business, you’re going to be depressed. The level of stress that building a business creates is huge, and not for the faint of heart. However, the enthusiasm you inject into your colleagues, your team, your friends, your family, is like a bank you can draw down on later. You’re going to have bad days, everyone does, that’s not a problem and you don’t have to hide them. If you have a good team and good colleagues, they will see this, they will recognise this is not the normal you, they will work to help you pick yourself back up, they will reflect back the enthusiasm you normally show on every other day.
At various times you’re probably going to question yourself, ask yourself what you are doing and why you are doing it. The what, I can’t begin to answer, but the why should be easy, and it’s not just as simple as to become rich.
It should be because you really love what you do.
Glenn Shoosmith
CEO & co-founder, Booking Bug Limited
Nigel Botterill
Dear Entrepreneur,
Who you hang around with matters. A lot. I used to play a lot of golf when I was younger. What I found was that I always played better when I played golfers who were better than me. Similarly, whenever I played with people who weren’t as good as me, I never played to my best. It’s a bit like that in business.
Local networking events can be incredibly useful. You meet people, forge relationships and help each other to develop and grow. However, there were some that would go to every single networking event who are not, by any definition, successful. They are stuck in their rut and if you spend too much time with them, then you’ll become like them.
In short, if you mix with losers, you become a loser.
If you spend time with super successful business owners, then your chances of achieving the same increase dramatically.
It was the late, great Jim Rohn who said that you become a combination of the five people you spend most time with. Make sure that you’re spending time with the right people. People that inspire you, that motivate you, that fuel your ambition and drive and who you can learn from. Being around such people can make a heck of a difference to your level of success.
I was at least twelve months too late in realising this and it held me back a lot in those early months. Please don’t make the same mistake that I did.
Nigel
Nigel Botterill is one of Britain’s most successful entrepreneurs. In the last eight years he has built, from scratch, eight separate million-pound plus businesses, and his Entrepreneur’s Circle guides and mentors teach thousands of UK business owners who aspire to super success. It is the largest membership organisation in the UK dedicated to helping businesses grow.
Braant
Bradley Mcloughlin sold sandwiches at school, buying cheaper lunches to pocket the difference.
After A-levels in Business Studies, IT and Music Technology, Bradley worked for his Granddad, saving up for a one-month travel ticket to visit London. Armed with a suit and leather folder, every day he walked into various companies blagging his way in to see the HR Director, pretending to reception that he had an appointment!
After finding a job as an Accounts Assistant, Bradley worked in London for eight years, finally ending as a Management Accountant for a large corporate.
With the experience of managing businesses from a financial perspective, Bradley started his own, Trading4u. In five years, turnover reached over £1m and Bradley successfully exited the business.
Bradley’s current venture is a London bookkeeping and accountancy business named Braant, which provides professional, reputable and reliable accounting services to SMEs.
What makes you an entrepreneur?
Being relentless in your goals
Overcoming every challenge, and not to let it stop you
Being