Recorded in front of a live audience of Scottish business owners, Vicky Brock is interviewed by journalist David Ferguson about how and why - after the lowest point of her business career - she is now back with startup number five.
Vicky shares her process on how to start and grow a business, what she has learned across her very different companies and the 9 reasons she has discovered for why your startup may not be growing like you planned.
She explains why the first idea you have almost certainly is not the one that will become your business, why she prefers pain to delight and how her latest startup will achieve more in four months than her previous company achieved in 18 months. Because while it is relatively easy to create a product, and even fairly easy to build a product people will by once, it is actually very, very difficult to create something people will buy again and again. But that is what you need to achieve if you are going to build a business.
"I'm pleased I'm back here doing it all over again - I tried to start a bit too fast last time and we skipped over some important early steps in really finding product and solution fit. I'm not going to make that same mistake again. My whole team are focused on doing the on-paper work that means we test and validate our assumptions up front. And because we're starting in response to very specific challenges laid down by our initial paying customers, I'm starting my this new business with my customer as a full-time lodger, which is great!"
Entrepreneur Pheona Matovu had her family's life turned upside down when a paperwork error meant she was no longer eligible to work in the UK. When, after 5 long years, she and husband were finally able to work again, the couple founded Radiant and Brighter to provide employment pathways and enterprise support for the Black & Ethnic Minority Communities living in Scotland. The company also provides training and education that challenge and inspire groups and individuals to explore perceptions of culture & diversity. For those of you in Scotland, their Bright Futures Women’s Leadership and Enterprise Conference is on Thursday 27th September 2018 at the RBS Headquarters in Gogarburn - there are still free tickets available.
In one of the most inspiring podcast conversations to date, Pheona explains:
"The one thing that connects us is that we are all different. It does not matter what ethnicity or whoever you are, we are all different. Let's not have the tokenism, let's look at the importance of bringing together ethnicity and diversity of culture. Let's have that conversation and create the spaces where we can have that conversation. Because when you open up to a different world you learn so much more."
Read the full episode transcript here
Organic farmer and premium food brand producer Endrina Maxwell is one of the most opportunistic and inspiring entrepreneurs to join me on the podcast yet. She explains how she has maximized value and competitive advantage at every stage of the food production process, from innovative fish farming to organic seed, feed and manure production - and in her latest venture the NutriSecret range of healthy, chemical-free food products and cooking oil. We cover brand, differentiation, pricing, benefits not features and how to effectively diversify to reduce risk and pursue market opportunities. She shares her personal tips on finding purpose, focus, and how she uses goals and planning to drive her onward.
Rachel Bews founded ALICAS, a startup with social purpose and ambitions to scale globally, and she joins Vicky Brock to discuss the particular factors 'for good' businesses need to think about as they startup and plan their growth. A social media professional, with an extensive background in content marketing, she also advises an entrepreneur struggling to get an impact from their social marketing efforts that perception is reality - founders can't afford to be so busy working on their startups that they delay working on the business and personal brands, as they are the same thing. She provides some tips, tools and organic & paid approaches that will help young businesses get more impact from their social media and social purpose efforts - and announces her new Tags-On clothing appeal, to help women fleeing domestic violence to dress with confidence and dignity.
Entrepreneur Dr James McIlroy is founder & CEO of EnteroBiotix, an award-winning and rapidly expanding biotechnology company that he started while at medical school. EnteroBiotix is focused on a whole new field of science and medicine, using the body’s own microorganisms to prevent and treat debilitating infections and diseases. James joins me to discuss practicalities of managing an incredibly busy workload, how he learned to delegate and focus on high yield outcomes - and why he has decided that now is the time to step back as CEO and bring someone in to help him scale the business, while he continues his medical training.
Vicky reports back on her recent Women Entrepreneur's Challenge to Malawi, organised by Kate Webb and her team at the Responsible Safari Company, including what she learned, and the profound impact this has had on her personally and as an entrepreneur. Tackling a listener question on how to startup when you have no money, they discuss the importance of having a support network of other business people, and why having the right people and expertise around you can be more important than cash. Kate shares her own experience of saying yes to opportunities and no to debt, then working with whatever you have to make it happen. To prove her point - the episode ends with an incredibly exciting request for help! If you are interested in getting involved in helping Kate and Dame Kelly Holmes promote Sport For Purpose or fancy joining them on a challenge in October 2018, check out http://www.orbis-expeditions.com/blog/dame-kelly-holmes-the-orbis-challenge-2018/
Incredibly inspirational "mad scientist", theoretical neuroscientist, AI inventor and entrepreneur Dr Vivienne Ming advises a listener overwhelmed by ideas and possibilities that finding your purpose is more important than forcing yourself to focus and be someone you're not. She talks about the importance of recognising your weaknesses and having a compensatory strategy for overcoming them and why hiring complementary collaborators is essential to entrepreneurial success and to delivering solutions that bring real value to people. As a leader and creative collaborator, she sees her number one job as explaining the why - then to simply be a resource to enable her team to be even more successful.