Winning #SBS has given me access to a brilliant "family" of other winners on twitter - all of whom I know I can call on for help, advice and support if ever I need it. It's great to think too that @theopaphitis has seen that certain "something" in all our businesses and is willing to give us a helping hand to platform our businesses from too.
A Yorkshire lass by birth, but happily married and living in Wales with my Welsh born husband and children. I come from a large family of business owners. My Father, his Father and his Grandfather before him were all Master Dyers and my Grandfather discovered the chemical equation that makes colour stick to nylon - hence why stockings no longer just come in beige! My great Uncle William set up the Spar chain of shops in the UK, my GrandMother's family were confectioners and set up the Riley's Toffee Brand...so it's little wonder I chose to go to college to study business and finance in London and have then set up my businesses. Ella Riley's is my 2nd business having previously had a property company into which we welcomed an investor to help it grow. It is my intention to grow Ella Riley's into one of the best new British brands of Confectioners and I will then have no qualms about selling it either as I already have my eyes set firmly on my 3rd business plans. I wouldn't say I'm ruthless but I'm certainly motivated and I have a real passion for business and finding out how it works.
1) It's often said but it' so very true...cash is King. ALWAYS keep cash at the bank as without it your business will die of heart failure! It's cash that keeps your business life blood pumping and the banks will be unwilling to help you if you don't/can't prove that you have cash flow.
2)Business is relatively simple. You take an item - be that a raw material, a product or a service, you add value to it - by making something else out of it, repackaging it, or by bolting on a value to that service and you charge more for it when it leaves your hands than you paid for it in the first place. It's really that simple. NEVER leave yourelf out of pocket and always make a profit in proportion to the amount of work you lavish on the item your selling and in relation to what you think the market will bear it at. It really is that simple.
3) Nike had it right when they said "just do it" In business you will get nothing if you stand on the side lines and say "i'm gunna, I'm gunna, i'm gunna" by the time you've said what you're GOING to do you might well find that someone else has actually simply gone out and DONE it already and stolen a march on you! If you have two choices - go with your gut feeling, do market research but always do one thing or another. Procastination is the worst thing you can do in business. Dithering on the sidlines will NOT progress yoour business. "But what if i make the wrong choice?" I hear you say....well if you make the wrong choice, acknowldge it, stop what it is that you are doing wrong, reverse it and LEARN from your mistakes...it's not the end of the world and no one will berate you trying and if they do - simply ask - and what did you do with your life? I bet it won't be half as interesting as what you've done with yours! ;-)
4) Finally ENJOY what you do. Make money at it - sure - but don't chase the money and make the work a grind, make the work fun and the money will follow! :-)
All #sbs winners who order sweets through our website www.ellarileysweets.com will get a FREE selection bag of all our delicious toffees!