Tag: work from home

Getting to grips with too many ideas

Opportunities and getting started.

Hello again,

Ever ended up with too many business ideas all zooming around in your head and driving you mad?

Well, it happens to us all, if you’re in a receptive mood that is.

Before I ran my own company and was an employee, I could never figure out how it was that those that ran their own companies always seemed to be ahead of the game in spotting trends and new ideas. As an employee, I was focused on doing the job I was paid to do, quite rightly, but on long flights and train journeys, I would have nothing better to do that flick through magazines and muse on the ideas and products advertised.

The main issue was how to investigate and get a new business up and running while still being an employee. Everyone I know who has started up their own company has been in this situation. Some get their ideas fully researched before they go for it. Others are just convinced that the new venture will succeed and that’s that. Somewhat risky.

Do you have an idea for a business and just can’t seem to get anywhere with it?

What is stopping you?

If the answer is TV, newspapers and no time, then I’m afraid you need to look again at what is really motivating you and what you really want to do.

If, on the other hand, your business idea makes you wake up at night with the excitement of how it will pan out, then at least that will give you the push to make the time to do the research and get things moving.

Off for Easter Holidays for a week or so. All the best, Roy Lewis

What is stopping you? Fear is the key.

New ventures, overcoming the element of fear and using it to your advantage.

Hello again,

Driving along the other day, I was musing on why I have not gone for certain opportunities that have come my way and why I did for others.

It’s not that the opportunities were not good. Or that I couldn’t work out the risk element and how to mitigate it. I think it was mainly to do with fear of failure and fear of not knowing if I could do it.

Fear of failure is all part of all business enterprises – it takes you to the edge, where simultaneously there is the feeling of fear mixed with the excitement of getting it right. This is the part that entrepreneurs seem to love – the uncertainty of it all. Once you get past this, then the actual day to day stuff is dull. That’s where another opportunity comes along and off you go again.

If you are an employee, there is some degree of this feeling to with new projects etc, but there is usually a safety net, and of course you can always blame the process. If you’re on your own facing it, if it fails, the blame comes right back to you and there is no escape. Not everyone can handle this.

The other way of looking at all this is that to learn anything, you have to make mistakes. Thousands of small businesses close up because they make mistakes that they cannot recover from.  The benefit if having kept a business going for several years is that by that time, you will have worked out what the dangers are and how to avoid a catastrophic mistake.

Getting going early has a terrific benefit of giving you the opportunity to mess things up at an age where you are able to take it. Once you have a good job, mortgage and responsibilities, it is harder to give a new project a go, just in case it doesn’t work. You have too much to lose.

Once you have experience (messed up lots of times) you then have the confidence to go after opportunities and you become better at spotting them, working out how much can be made and how to set up a system to run the new venture.

So, what’s stopping you? Fear? Great, that’s the key.

Have a good weekend. All the best, Roy Lewis

Are you a business mentor?

The benefits to both parties of business mentoring.

Hello again,

This blog is different as it is all about other businesses.

A couple of years ago, I was approached by a local Chamber of Commerce to be a business mentor for a small local business. I was flattered and surprised. But mainly, I was perplexed as to why they had asked me. I did not consider myself as having any special talent for business and couldn’t see how my experiences could translate over to others.

Well, I was wrong on all of those ideas.

Several mentee companies later and I am happy to report that I really look forward to spending time with the companies I now see. It’s not really that I have experienced exactly what they are going through – all businesses have their own unique issues to overcome. I think it is more of a case of at least I have been going long enough to have survived all sorts of disasters and have come through it all with a sense of perspective that the mentees find useful. Or I hope they do anyway.

The other aspect that I find useful is that for an hour at a time, I have the opportunity to help someone out and when I describe how I am handling something similar to their struggle, it often happens that they too have ideas that I can bring to bear on the situations that I am handling.

Some business mentors have a very strict method of going about it. I prefer to chat through things and focus on one main issue at a time and then track it from meeting to meeting, checking progress as we go.

Why not help out another business local to where you live? Too busy? No time? Don’t know who to contact? All these and other excuses are just that. Give it a go and see how you get on. After all, what do you really have to lose?

Have a good weekend. Kind regards, Roy Lewis

Decluttering and progress for the new season

Suppliers and customers – sorting out whom to deal with this year and why.

Hello,

Another wintry week here in Argyll. Odd time of year this, with sales a bit quiet, but Easter looming. Being busy sorting out what we want to keep in our office and what to throw out.

The same applies to our suppliers and customers – which ones do we want to deal with this year? Well, it all comes down to dealing with suppliers that are aware that we rely on them to treat us well and not mislead us on delivery times and availability of their goods and services. For retail customers, it is having ones that are doing well and are willing to pay us in a reasonable timescale.

First impressions can be deceptive. Several years ago, I signed up a ‘very successful’ delicatessen chain of stores here in Scotland. All and sundry helpfully informed me that I had to be in their shops. They took our liqueurs alright but were very reluctant to pay for them. It took over a year and endless calls to get our money. Having done this, I decided not to supply them any more. At the end of the day, it was not worth it as I expected them to go bust at any time and it would be a total loss to us. As it turns out, they are still trading, but even now, I would be reluctant to supply them as they still appear to be very disorganised.

Nowadays I am happier supplying nice steady, but perhaps lower profile retailers, that have a good solid customer base and buy regularly from me with no hassle or tricks. For lots of small businesses when starting, up, they chase too many unsuitable retailers and customers. It does take a while to work out which ones are worth having and sadly, many of these small businesses go under because that have a poor selection of customers and can’t cope with the losses.

Having good suppliers is the same. I want them to look upon us as one of their best customers and that we are worth looking after. I tell them this right at the beginning of our business dealings because I want to be clear from the start that I am serious about doing business with them and want them to be keen to sell their goods and services to me. If they don’t, they will find that we will change suppliers until we find one that does look after us, has an interest in us doing well and shows it.

All the best.  Roy Lewis

 

 

Fuel price increases make mail order purchases even better value

Fuel costs and mail order business – one drives the other.

Hello again,

Like most of us, each time the price of petrol and diesel lurches upwards, I go through the angst of filling up while calculating that my expenditure per minute matches that of a footballers wife let loose in Oxford Street.

From January onwards, I limited myself to one day per week of driving about for work. This not only saved the fuel cost and time involved, but also forced me to plan better, just like we all should. Years ago when I started my first job, my boss schooled me in making each trip worthwhile. If I was going to Edinburgh, I had to try to fit in 4 meetings in one trip,  not plan four trips.

So using the same plan of cutting out trips this year, the result was that I got my fuel expenditure down from £200 a month to less than £100.

I now apply the same logic when looking at buying goods mail order and paying what might appear to be a high delivery charge vs driving, parking and buying it from a shop in Glasgow. To put it in perspective, it takes about 1 hour to get to Glasgow. The cost of this is £15-20 per trip, plus parking and the likelihood of buying more stuff that I didn’t plan to while I am there.

In comparison, buying an item online means that I get what I want and am not tempted by offers for stuff I do not actually need or want right now. It is almost always better buying online rather than wasting time and effort in getting the goods myself.

What I am really doing is paying other people to do things that I do not need to do myself.  It’s the old time and money issue. I am now totally used to having a quick look on Amazon and E-bay, working out the right price to expect, finding the item at that price and then just getting it. Instead of taking 3-4 hours and costing £20 to purchase an item, it takes usually less than 15 minutes to find it online and buy it.

Have a nice weekend – winter has returned to Argyll – keep warm and busy – all the best, Roy Lewis

 

Show Distributors

Booking events for the coming year…which ones to go for?

Hello,

The new season for consumer shows is almost with us. Our Show Distributors are busy evaluating the shows and fees for the coming year and booking up with the organisers. Working out the true cost of attending an event is one of the key factors in making it worthwhile. This sounds easy until you start to factor in the time taken to get to an event, the fuel costs, parking, time taken to get set up, overnight costs, meals etc.

What often happens is the when all the costs are added up, the more local, less expensive events are the more profitable in the long run. I can vouch for that too from my own experience here in last year.

I attended a number of high profile Shows in Glasgow – The BBC Good Food Show and The Country Living Christmas Fair being two. These are both ‘very prestigious  events’ according to the sales pitch, attracting masses of potential customers. They do, however, cost a lot to attend both as a consumer paying the entry fees and for the Trade Stand fees.

I am aways concerned if it appears to me that the consumers are being asked to pay too much for, when all is said and done, is just a different set of retailers. The more the consumer has to pay to go to the event means they have less to spend while they are there. In addition, the consumers can feel ripped off if the entry and parking charges are too high. Not good for business.

I also attended a local event here in Helensburgh. Easy to get to, easy to get set up, lower fees per day and low cost for the customers to attend.

The result? Well you can probably guess from the tone of the above – yes, the local event was more profitable once all the costs were added in. I sold fewer bottles but made more money.

About now, I am called by sales people selling space at the big, high profile events. Sadly for them, it is really not worthwhile us going to most of these as their fees, sometimes over £1000 for a few days, are so out of touch with reality that it is a waste of time even trying to negotiate with them. Perhaps these is a gap in the market for Consumer shows that do not charge so much for everything and that the businesses going to them , will all make a good margin and rebook for the next year. Now there’s a plan.

Have a good weekend – cold and wet here-horrible.

All the best, Roy Lewis

Customer Survey time

Customer survey coming soon to find out what else I can offer that will be attractive to our mail order customers.

January is normally fairly quiet for the Liqueur business. Most of the time, it’s just sorting out administration from last year. This year I’m thinking of ways to improve our mail order service and have decided to ask our regular customers via an online survey.

From about November last year, a paper survey was included with each order – a fair number have now accumulated and the results are very interesting. One of the most popular requests was for a ‘Free delivery’ option.  This was implemented in November and  resulted in more orders and happier customers, so that is top of the list for this year once I have worked out the best way offering this.

Another area I am looking at is how to ensure that the orders arrive in good condition. Some other mail order companies spend a lot of time and effort on this and I will be analysing what they do and then incorporating the best ideas for our own online and offline mail order business.

If you have any mail order experience as a customer that you think would be useful to me, please get in touch – all comments and ideas welcome.

From time to time I will be focusing on business tools that I come across that improve efficiency, cut costs or help sell more goods. Look out for these ‘tools of the trade’ especially if you too have a business like mine.

All the best. Wild weather here today – hope it calms down for the weekend as I’m off on the ferry from Oban to Coll.

All the best.   Roy Lewis

Coming soon…20 steps to starting a direct to consumer business

A New Year -the ideal time to start your ‘direct to consumer’ business – what you need to know in 20 blogs.

Well here we are at the end of the year and what have you done? How about getting that business idea you have up and running in 2011? Read on….

I remember years ago when I was an employee, I just couldn’t imagine how on earth anyone could start a business and get going. There was so much that I didn’t know about and when I eventually did have to get on and start a company, because I was no longer needed by my employer, I had to learn by making mistakes, how do do it.

I have been asked for years to write down how to get started in selling something direct to the consumer, so now I have done it. In January, starting from 6th, I will produce a blog each working day until I have it all down. The focus will be on how to start a business selling direct to consumers at events and then how to build a customer base. The same principles apply for an online business too.

Once the Startup blogs are published, I will then have a go at all the new ways to start a business on the Internet. I will report back on how I am progressing, what has worked and what has not and what I did about it. I am especially interested in trying out ideas that all the blurb that goes with it says they are ‘really easy to do’.

So, the objective of the forthcoming blogs is to provide you with some stepping stones, based on years of experience, in all the areas I will discuss. This is not just the same old stuff from textbooks, churned out by yet another wannabe businessman – I have created liqueurs, marketed, sold them and developed a mail order business, on and off line, so it’s all real. I will detail too, all the horrendous mistakes I made on the way, so you can avoid them, save time and money and get to your planned end point quicker and with less hassle.

For the up and coming blogs, you will be able to discover:

  • How to plan your new business
  • Routes to market
  • Building a customer base
  • Setting up a mail order system
  • Events – choosing the right ones for you
  • Setting up your stall – what goes where
  • Talking to customers – which words work best
  • Your year ahead plan and handling doubts
  • Selling or supplying – which is more profitable
  • Persuasive words and closing the sale
  • Things not do do in front of any customer
  • Deciding what to sell and why
  • Confidence boosting measures that work

That’s just some idea of what the blogs will cover and I’ll add more content as they go along too, depending on comments during the process.

So have a good New Year, write down some ideas for 2011 and look out for the first blog of the series starting on January 6th. All the best, Roy Lewis

Whisky Galore: ‘lost’ stock rediscovered.

The Whisky Galore real storyfrom the 1940’s and what happened to the whisky rediscovered years later in 1990.

Whisky Galore – brilliant Ealing comedy of the 50’s on the S.S. Politician running aground on the Outer Hebrides with over 9,000 cases of Scotch whisky on board plus thousands of banknotes. By the time the weather had calmed down for the authorities to get there, there were  and little currency was left.

All goes quiet for many years, until a company is set up 20 years ago to excavate the S. S. Politician wreck for more whisky. Money was raised, divers employed, thousands of tons of sand and steel plates moved to discover…..24 bottles! The whisky was partly used to make a blend called Atlantic Gold. These were sold round the world at the time along with another brand, Calvey Mist, which replicated 1940’s whisky. Then the company went bust and the stock disappeared into a warehouse. Luckily, the warehouse owner pointed the goods out to me recently – I was intrigued with the story and as I travel to the Outer Hebrides each year, I was familiar with the story.

I have now purchased some of the stock – the Atlantic Gold has numbered bottles and presentation boxes. there are about 60-70 left out of @ 140 ever bottled. Both the Atlantic Gold and Calvey Mist are packaged in a nineties style card box, typical of the time. The whisky used too is the equivalent taste to the 1940’s to preserve authenticity all round.

Both brands are collector’s times – I am getting pictures of these taken and will post these to this blog and to our site in due course. Just shows that it is worthwhile to look into new ideas from time to time – I wonder what other gems lie forgotten? It’s a bit like finding a Masterpiece in the attic or coming across a valuable sculpture at a craft fair.

Roy Lewis