Unfortunately I was unable to attend on the first day however I made my way to The Old Brewery in Shoreditch on Friday with an air of excitement and an open mind as I always do to these types of events as you can pick up some real gems if you are patient and persistent.

You will know from my book The Book on Entrepreneurship and Property that I have a particular interest in start ups and small and medium sized enterprises (SMEs) and so with this in mind the event seemed perfect as it focused on this space.  In the words of Scott English Founder of Elite Business Events “Shoreditch is home to London’s burgeoning start up community”  

I entered the main conference hall as Lord Digby Jones was speaking who champions the role of SMEs in our economy.  Later he shared the stage with Michelle Mone OBE Founder and CEO of MJM International often described in business as the female Richard Branson for her impactful brand building stunts and events.

Here are some of the gems I’d like to share with you in no particular order:

1. Change is important change is courage.  Change is about leadership.
2. Don’t work harder but work smarter.
3. The harder you work the more opportunities should come your way.
4. Innovation is important you need to move with the times.
5. Speak with your competitors hold round table networking events.
6. Textile manufacturing is moving from China to India and Turkey.  Logistics and geography play an important factor in deciding where to manufacture in addition to cost.
7. Partner with the right people.  Michelle tirelessly looked for the right PR opportunities and for her Julia Roberts in the movie Ellen Brockovich sky rocketed the Ultimo brand.
8. You shouldn’t be afraid to increase your price as a way of improving profitability.   Perhaps adopt another service or product to increase revenue.
9. Customers of products or services are not just influenced by price.  It is rare that a cheap price will affect a sale.  Creating a brand that will position your company more effectively in your market and one that will engage and create a successful following is what you should aim to achieve.  Episode 1 of Lord Digby’s new series called The New Troubleshooter addresses the importance of successful brand building and streamlining a business to ensure that it runs profitably.
10. As a customer or client “You want to feel that you belong”.
11. “Price is king margin is emperor”
12. Innovate not imitate.
13. “In the 21st Century Enterprise will cluster around centres of knowledge”  The reverse side of Lord Digby’s business card.
14. Jaqueline Gold’s  5 marks of a true leader:

i) Passion – the enthusiasm and positive energy that one can feel.  At times can become obsessive about their work.

ii) Courage to step out of their comfort zone to push themselves.

iii) Tenacity-the ability to forge on when the odds are against them, to be relentlessly focused.

iv) Authenticity-to be engaging, trusting, to want things just so.

v) Empowerment-to nurture the team around you and to value the importance of aspirations of others.

I look forward to the next event in October and invite any comments you care to make in connection with this piece.

All the best

Selchouk

P.S. Feel free to share any golden nuggets that you found on the day.