Issue 01 Summer 2008
Inspiring Young People to Achieve
HOW TO MAKE A MILLION QUICK! 10
THE WORLD’S MOST EXPENSIVE HOMES 14
IT’S ALL ABOUT YOU! 18 / 28 / 46
HOW TO BLAG Compare the UK’s top employers – from professional services to media and technology Keep up to date with the latest graduate news Learn to market yourself – from writing a winning CV to interactive interview practice
For exclusive content for $uccess Mag readers,
THE BOY’S GOT SPECS APPEAL 40
THE RULES OF WORK 30
WELCOME TO THE FIRST ISSUE OF $UCCESS MAG
RUARI PHILLIPS – EDITOR
We see it as our mission and our duty, as a magazine/e-zine, to help you on the road to success. With the aid of our knowledgeable writers, we truly hope everything you find within these pages inspires you to become great in your chosen field. Nothing happens in life until the first step is taken so get ready, strap on those seatbelts and join us… Whether you’d like to start your own business, or it’s just a good job you’re after $uccess Mag is here to help. We are also keen to build on our already buzzing community of aspirational young people. So, if you’re under the age of thirty, and would like to appear in the “It’s All About YOU!” section, email the following to firstname.lastname@example.org
Compare the UK’s top employers – from professional services to media and technology
• • • • • •
Name Age University (if applicable) Where you’re from Contact details 100-word biog
Every profile will appear on the website and a select few in the magazine.
Keep up to date with the latest graduate news Learn to market yourself – from writing a winning CV to interactive interview practice
For exclusive content for $uccess Mag readers,
All that leaves for me to say is read the features, be inspired, send in your profiles, meet other people, get involved, pitch ideas, work hard and most important of all...have fun on your journey to success!
Ruari Phillips, 23, has written for a number of national publications. After undertaking a post-graduate course in magazine journalism he decided to start his own publication and hasn’t looked back since. KATE DUNN – STAFF WRITER Kate graduated from Warwickshire University in 2005 after editing the campus newspaper. She writes for a number of business publications. ANGUS WALKER – POLITICS Angus Walker is Current Affairs Correspondent for ITV News. He has also covered business and politics during his five years there. REBECCA O’CONNOR – FINANCE Rebecca O’Connor is personal finance reporter for The Times. She has been writing about money for the past two years. SCOTT KEIGHTLEY DESIGNER After four years working in leading design industry studios, Scott Keightley has built a client list including Gordon Ramsay Holdings and BMI (British Midland Airways). DAMIAN WATSON – WEBSITE DESIGN In just five years, Damian Watson’s business, Greenhouse Design, has grown into a thriving limited company. He has over 100 clients.
Kind regards, RUARI PHILLIPS EDITOR
For all advertising enquiries contact email@example.com or, phone $ucces Mag Ltd. on 0844 357 0215
$UCCESS PROMOTIONS - Everywhere you see this logo in the magazine, the page it’s on is an advertorial feature produced by $uccess Mag on behalf of our clients. Distribution - 20,000 business schools/young enterprise societies nationwide. Printing courtesy of Pensord Press Ltd.
ENTREPRENEURSHIP – WORTH IT?
HOW TO MAKE A MILLION QUICK!
THE WORLD’S MOST EXPENSIVE HOMES
HOW HAS THE INTERNET CHANGED MONEY?
ITS ALL ABOUT YOU PART ONE
PROPERTY…GET ON THE LADDER
Unless you have been living on the moon, you will not have missed reports of the unfortunate situation facing anyone who wants to buy their own home. They can’t afford it.
FIND STARTUP MONEY
ITS ALL ABOUT YOU PART TWO
THE RULES OF WORK
The workplace has never been the most exciting place. People mope around, photocopiers incessantly hum like medieval monks and the clock seems to move slower and slower as if making the day longer and longer.
SPARE MONEY? INVEST WISELY
WORK EXPERIENCE – WHY BOTHER?
CHA CHING CHINA
The Chinese are famous for fireworks, food and now finance. They have the world's fastest growing economy, about nine percent a year. Environmental groups recently announced China is building two power stations a week to fuel its expansion.
ITS ALL ABOUT YOU PART THREE
TEN STEPS TO THE PERFECT JOB APPLICATION
HOW TO BLAG
LESS ON YOUR CAR REPAYMENTS... MORE AT THE STUDENT BAR!!
THE $UCCESS GROUP ARE EXPANDING… This September we launch $uccess Recruit. Our team will be exclusively placing high calibre graduates within a select number of leading employers in London and other parts of the UK.
YOUNG – AMBITIOUS – FOCUSED – ENTERPRISING – DETERMINED For all enquiries phone 0844 357 0215
48 monthly payments of
Total amount financed First payment* Optional final payment † Total amount payable
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On the road price
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COME IN FOR A TEST DRIVE AND QUALIFY FOR £50† UnLtdWorld is an online platform that aims to connect social entrepreneurs and socially-minded people and enable them to share content and build collaborative value, raise the visibility of ideas, issues and projects and ultimately help generate greater positive impact in the real world. On UnLtdWorld you can connect with others, search and share resources and opportunities, find and list services and products, share answers to key questions, create and join groups, promote and find events, support inspiring projects and lots more.
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BIRMINGHAM 0121 252 7000 BOLTON 0845 386 9731 CANNOCK 01543 511 300 CARDIFF 029 2042 1000 CROYDON 0845 386 9603
DARTFORD 0845 386 8033 ENFIELD 0845 386 9560 LEICESTER 0116 280 1000 LIVERPOOL 0845 386 9491 LONDON CITY 0845 386 9439 LONDON EAST 0845 386 9402
LONDON WEST 0845 386 9359 MANCHESTER 0845 386 9334 OLDHAM 0845 386 8728 ORPINGTON 0845 386 8165 ROMFORD 0845 386 8667 SLOUGH 0845 386 8628
SOLIHULL 0121 254 7000 SWANSEA 01792 495 000 WATFORD 0845 386 8507 WIRRAL 0845 386 8437 WOLVERHAMPTON 01902 439 500
The ofﬁcial fuel consumption ﬁgures in mpg (l/100km) for the model shown are: Urban 39.2 (7.5), Extra Urban 61.4 (4.6), Combined 50.4 (5.6). The ofﬁcial C02 emission ranges from 132 to 173g/km. Price includes delivery to dealer, number plates, 17.5% VAT, 12 months’ Government road fund licence and £55 ﬁrst registration fee. *First payment includes an acceptance fee of £99. †Optional ﬁnal payment includes credit facility fee of £139 and option to purchase fee of £10. Finance is subject to status. You will be liable to pay for any accidental damage to the vehicle or excess wear and tear with regard to its age and mileage. A guarantor may be required. If the agreed mileage is exceeded a charge of 6p per mile will be made. You must be at least 18 and a UK resident (excluding the Channel Islands and the Isle of Man) to apply for ﬁnance. Finance provided by RCI Financial Services Limited, P.O. Box 493, Watford WD17 1FJ. This offer applies to vehicles ordered and registered by 30th June 2008 and is available to private and small business customers only. All ﬁgures correct at time of going to press. Models shown for illustration purposes only. Renault Retail Group reserves the right to change, amend or withdraw these offers at any time without advance notice. Renault Retail Group, Concord Road, Western Avenue, London, W3 0RZ. The company is registered in England: Registration No. 2304689. *Figures may vary. **Exceeds expectations. † Qualiﬁcation dependent on purchases before 30th June 2008.
ENTREPRENEURSHIP – WORTH IT?
Youth can be perceived, by some potential investors or partners, as detrimental to credibility, so it's crucial entrepreneurs use their age to their advantage; see it as an opportunity to demonstrate their dynamism, creativity, and tenacity. Another perk young entrepreneurs can highlight is the fact that they are generally unencumbered by family and financial responsibilities. This allows them to focus completely on developing their businesses. Young people often approach problems with a fresh perspective, and an innovative way of thinking, which can be just as strong a basis for a successful business as years’ of experience.
YOUNG ENTREPRENEURS FACE A VERY UNIQUE SET OF CHALLENGES WHEN IT COMES TO SETTING UP A BUSINESS COMPARED WITH MORE ESTABLISHED ENTREPRENEURS WHO OFTEN HAVE YEARS OF EXPERIENCE BEHIND THEM. Despite the obstacles students and graduates may encounter, there are more support networks and resources than ever before and they can take advantage of them when launching a new business. One of the biggest challenges for aspiring young entrepreneurs is the lack of business contacts. While it might seem difficult to go about building networks there are invaluable benefits these can bring when starting out on your own.
Another problem many young people face when trying to establish a business is not knowing the questions they should be asking or who to ask. Even if students and graduates realise they need to seek specialist business advice, they might not make the most of these opportunities if they aren't completely aware of the problems they need to resolve in the first place.
Fear of failure can often be a sticking point, particularly for those whose families have no history of going into business. Often parents put pressure on children to take the 'safe' path of a graduate training scheme after university, without recognising this isn't right for everyone, and that not only might their offspring be more suited to an entrepreneurial route, but that it needn't be the 'risky' option it seems. In terms of other barriers, raising capital is difficult and can seem very daunting from the offset. For this reason there is a need to focus on the business model. Young entrepreneurs may find they don't need that much money to get things going - begging, borrowing and bartering for things may be more time efficient. Young entrepreneurs clearly have their work cut out, but there are many sources they can turn to for advice and support on all aspects of starting a business. Universities throughout the UK are doing a lot to support entrepreneurship, such as forming student enterprise clubs, holding competitions, organising business fairs and mentoring workshops, and arranging networking meetings
between students and local entrepreneurs. Students with an interest in enterprise should explore all the options available to them at their universities or even consider starting up their own clubs and events. This is a great way to meet like-minded people who can form a business network that will take them beyond graduation. It’s always worthwhile checking out the university in your local area to see what they might offer, even if you are not a student. Graduates should look for opportunities to join networks to expand their business contacts. In addition to programmes such as those offered by the NCGE, there are region-specific networks across the UK.
with ambiguity, to manage unexpected occurrences, to deal with chaos and change, delegating and prioritising, solving problems and making decisions. It's no easy feat, but the returns can be more than worth the effort.
IS ENTREPRENEURSHIP WORTH IT – YES! YES! YES! For more information on the NCGE and Flying Start, please visit www.ncge.org.uk.
WORDS – LORNA COLLINS Director of Flying Start, National Council for Graduate Entrepreneurship
The right network will provide entrepreneurs not only with important contacts, but serve as a resource for advice on all stages of launching an enterprise - from writing a business plan to securing funding. Programmes such as the National Council for Graduate Entrepreneurship's Flying Start (www.flyingstart-ncge.com) provide access to mentors and enterprise experts, as well as a community of student and graduate peers. The Flying Start three-day business readiness courses, each designed for a specific sector and serving as a kick-off to a year long enterprise programme, are designed to give entrepreneurs the tools needed to launch their businesses within 12 months. The opportunity for young entrepreneurs to learn lessons about business in the real world, to experience running one's own business, is enormous. A self-employed person gains an appreciation of many things that an employee doesn't - the ability to deal
HOW TO MAKE A MILLION QUICK!
MARSHALL BRAIN IS THE FOUNDER OF HOWSTUFFWORKS.COM AND HAS A DEGREE IN ELECTRICAL ENGINEERING FROM RENSSELAER POLYTECHNIC INSTITUTE IN AMERICA. A MULTIMILLIONAIRE, IT TOOK HIM JUST A FEW YEARS TO BUILD HIS FORTUNE. If you want to make a million, all ya gotta do is put £5 in a bank account every day. Just about anyone can come up with £5 a day. It is not a huge deal - heck, a pack of cigarettes costs £5 in a lot of places these days. You put the money into an account, like a stock mutual fund, that gives you 10% per year interest on average and presto. In 42 years you have a million bucks. What could be easier than that?
MARSHALL BRAIN founder of Hot Stuff Works www.howstuffworks.com
The problem is, who wants to wait 42 years? It takes too long. What do you do if you want to short-circuit the process and make a million bucks in a couple of years? There is only one way in the Western World to accomplish that reliably - you need to start a business! In America (where I’m from) starting a successful business is the surest, most controllable path available for you to making a million in less than 42 years. And it’s exactly the same for the UK. Really, this decision to start a business gets us to a key part of our conversation. There are two mentalities at work in our economy
today. Either you can be someone else's employee, or you can be the one who hires and fires. You can work for a business, or you can own a business. Now please note I am not saying that "being an employee" is a bad thing. There are lots of good reasons to be an employee. For example, being an employee is a great way to learn how a business works so you can open a business of your own. You simply need to become an employee with that approach in mind. In other words, you work so that you can learn the ropes. Go into the job with the intention of learning everything you possibly can while someone else pays you to get your education. Many large corporations even make a point of advertising this fact. For example, McDonald's says on its website: "You'll be encouraged to grow, learn and develop the broad-based skills you'll need to move up fast." And that is true. Compare this with a normal university or college education and you realise how great a deal this is. When you are at university, you pay to get educated.
The dictionary definition goes like this: An entrepreneur is a person who organises, operates, and assumes the risk for a business venture. Here's my definition: An entrepreneur is someone who starts successful businesses. People are not very kind to those who start unsuccessful businesses. The instant you are successful, however, you are a hero and they start calling you an entrepreneur.
When you are an employee, someone else pays you to get educated - it is a much better deal. So let's assume that you have made the decision to start a business, and you have worked to learn the ropes. If you follow this "start your own business" path then what people will call you is...an entrepreneur. The whole point of creating a successful business, of course, is for it to generate money. There are two ways to extract money from a business you create. You can either take the money out as you go along, in the form of a salary and dividends. Or you can sell the business and take your reward in a lump sum. Or, in the ideal case, you do both. In the ideal case, the money that you pull out of the business is being generated as passive income. For example, let's say you start a restaurant. You hire all of the staff, and then you hire someone to manage the staff so the restaurant "runs itself" without you ever having to actually be there. That is passive income. A house you own that generates steady rental income every month is another example.
Note that the dictionary definition of the word "entrepreneur" includes the word "risk." That is important. If you are starting a business, you are going to have to invest both your time and (in many cases) your money in getting the business going. There is a chance the business will fail without generating anything. Businesses fail all the time. That's part of the game. There are three things that you should keep in mind... Woody Allen's quote is so true:
"Eighty percent of success is showing up." If you simply take the first step toward starting a business you improve your chances of success dramatically. The first reason for that is obvious - if you don't take the first step, then you will never start a business and you cannot possibly succeed at it. Whatever it is – do it. Now!!! The second reason is more important. If you ever listen to motivational speakers like Dennis Waitley, Tony Robbins and Zig Ziglar, one thing you will hear over and over again is this
HOW TO MAKE A MILLION QUICK!
interesting fact about setting goals. If you will simply take some time to create some goals for yourself and then write them down, the chances of reaching your goals goes up by a huge amount. It is huge. Putting your goals on an index card and taping them to your bathroom mirror so you see them first thing every morning is also a smart move. I don’t know why this works so well, but I do know that it does. So what you should do is write down on a piece of paper a few goals for yourself, and one of them should be, "get my business going," and tape your goals to the bathroom mirror. I would do that today. Churchill's quote is also right on target:
"Success consists of going from failure to failure without loss of enthusiasm." What does that mean? It means that, whenever you stretch yourself and try to do something successful, there are going to be failures along the way, sometimes a lot of failures. All you can do after a failure is get up and try again. If you keep doing that, one of two things will happen - either you will succeed eventually, or you will die. And if you die, then you won't care anymore. And at your funeral people will say; "You know he never amounted to anything, but you sure have to give him credit for trying. The guy had a lot of heart." There's nothing shabby about that. It will beat having them call you a couch potato. Larry King's quote is amazing in its accuracy:
"Those who have succeeded at anything and don't mention luck are kidding themselves." That is so true. The thing is luck can only happen to you if you try something. If you will just take the first step toward starting a business,
and then the second, and so on, you immediately open yourself up to the beneficial power of luck. If you don't, then luck cannot happen to you. Everyone who has ever succeeded has benefited from luck - sometimes lots of luck. But you have to be playing the game in order for luck to find you.
What I would suggest is that you stop playing video games. Even go as far as getting rid of your television! Take the music OFF your iPod…
So let's summarize...
WORDS – MARSHALL BRAIN www.howstuffworks.com
If you try, there is some chance of succeeding, if you don't try there’s not. You've got to be playing the game in order to win. Those who keep trying eventually do succeed, that’s a fact of life. Luck favours the prepared, and it also favours the persistent. You will hear people say, "Nine out of 10 businesses fail so why bother?" Here is another way to look at that the chance of success is 10 percent. You start nine businesses that fail and then the tenth one succeeds and you make a million bucks - those are damn good odds. Compare that to a lottery, where, for example, 9,999,999 out of every 10,000,000 tickets fail and tens of millions of people play the lottery even though the odds are that bad. Starting a business is not as easy as buying a lottery ticket, sure, but keep in mind that, "Anything you practice gets easier." The quicker you act, the quicker you learn. So the first business you start is going to be hard. You don't know anything. You will make mistakes. You will try things that don't work. Whatever. But the second business you start is a lot easier. And the next one is easier still. Right now you look at "starting a business" and it looks hard, that's because you've never done it before. You haven't practiced. Simply start practicing and it will become trivial eventually, just like a video game. However, you are never going to get rich practicing video games.
It’s not going to be easy, but who ever said making a million was?
NEXT ISSUE We look at creating the perfect business environment. Your second step to making that million!
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THE WORLD’S MOST EXPENSIVE HOMES
HOW HAS THE INTERNET CHANGED MONEY?
GETTING ON THE PROPERTY LADDER IS NO JOKE. IMAGINE THOUGH, IF YOU HAD ENDLESS FUNDS TO BUY WHATEVER HOUSE YOU WANTED. HERE WE LIST SOME OF THE MOST EXPENSIVE HOMES IN THE WORLD…GET SAVING!
DOES MONEY EXIST? IT SOUNDS LIKE AN UNNECESSARILY PHILOSOPHICAL QUESTION; HOWEVER IT IS ONE THAT HAS GAINED NEW SIGNIFICANCE IN THE WEB ERA.
01. £70 million
06. £48 million
Updown Court ,Windlesham, Surrey
Bishops Avenue, Hampstead, London
Larger than either Buckingham or Hampton Court Palace, this 103-room home has 58 acres of gardens and woodlands, making it the idyllic English country home for those flush with cash.
Just under the £50 million mark, depending on today’s exchange rate, the Toprak Mansion was built by Turkish entrepreneur Halis Toprak.
07. £36 million 02. £70 million
Three Ponds, Bridgehampton, N.Y.
Hala Ranch, Aspen, Colorado
Three Ponds, which encompasses more than 60 acres of farmland, is named for its surrounding lakes, but also features its own USGA-rated golf course.
This 95-acre ranch is owned by Prince Bandar bin Sultan bin Abdul Aziz, former Saudi Arabian ambassador to the U.S. It is the most expensive in America.
08. £36 million 03. £60 million
The Portabello Estate, Corona del Mar, California
Maison de L'Amitie, Palm Beach, Florida
The triple oceanfront lot along the Pacific Ocean in Southern California is only part of what makes the Portabello Estate so pricey.
In 2004, Donald Trump bought the mansion from former US Healthcare executive Abe Gosman at a bankruptcy auction for $41.25 million.
09. £34 million 04. £48 million
The Pierre Penthouse, New York
Tranquility, Lake Tahoe, Nevada
This chateau in the sky occupies the top three floors of one of the poshest hotels in New York, located on the edge of Central Park.
Conveniently on the tax-free Nevada side of Lake Tahoe, this 210-acre property is owned by Joel Horowitz, the cofounder of Tommy Hilfiger, who built the property from scratch.
10. £31 million Cap Ferrat, Cote d’Azur, France
05. £48 million Waterfront Estate, Istanbul, Turkey The fifth most expensive home in the world is in a somewhat unexpected spot, located on three-quarters of an acre directly on the Bosphorus Strait in Istanbul, Turkey.
Nestled into the landscape about the port of Saint Jean, views from the main house and three guest villas include the ocean and Monaco.
There was once a time when people swapped cows for corn as a means of trade, this was replaced by coins and notes for goods and services, and now, money does not even have to exist physically for you to use it.
to blame for the slow, but almost complete, death of the cheque. When was the last time, if ever, you used one?
The Internet has created a new market place in which to buy and sell goods and services, which in turn has created a new monetary concept electronic money, or e-money as it is better known. Buyers and sellers meet virtually so you need a virtual means of exchange. Very slowly, the Internet is changing the way we think about money as something that comes in the form of hard cash, to something that is simply a number in a box on a screen. Digital money has been around for eons – investment banks do not, for example, hand over millions of pounds in £10s and £20s when they do a massive deal. It’s done digitally. However, for the average consumer just buying stuff online, the digital money revolution came somewhat later. Now, there are several payment systems that use e-money. Since the birth of eBay, Paypal has arguably become the most well-known. It allows you to store cash electronically online for use when you want to buy something. This, it is
argued, is safer than using your bank details directly when you are buying from someone online who you don’t know. The rise of Internet banking, as well as on-line shopping, has also contributed to the growth of e-money and the dwindling significance of cash. Employers usually pay your salary straight into your bank account. And now, if you want to transfer money, you obtain the other party’s bank details, put in the amount you want to transfer, and within two or three days, the money is in their account. You can even get current accounts that are internet-only now. It is this steady switch to online services that is being blamed for banks closing branches across the UK. The Internet has increased the speed of transactions, and is predicted to do so even more, until same day transfers are normal. But it is also
The Internet has also brought about a new kind of banking – Zopa. It was launched in 2004, as an internet-only concept allowing users to bypass banks for loans and obtain them from other Zopa members instead. In this way, the Internet is beginning to transform the way we understand the money supply. Like MySpace or Last.fm, Zopa uses an online community to turn traditional banking on its head. But by far the most interesting development in the relationship between money and the Internet has come about from the growth of virtual reality. With websites such as Second Life, you can make real money from buying and selling virtual goods and services, like property, using e-money. One Chinese woman has already made her first real million this way. In a sense then, we are coming full circle – back to hard cash via a virtual world. But really, we are still working out how the Internet is changing money as we go along – so it’s not quite the end of cash yet...
WORDS – REBECCA O’CONNOR
WORDS – RUARI PHILLIPS
PRESENTING THE RIGHT IMAGE
NO MATTER HOW BRIGHT YOU ARE ACADEMICALLY, THE KEY TO STARTING A SUCCESSFUL CAREER IS MARKETING YOURSELF. WHETHER YOU’RE TAKING PART IN A JOB INTERVIEW OR STARTING YOUR OWN BUSINESS, AT SOME STAGE YOU WILL NEED TO CONVINCE OTHERS THAT YOU CAN DO A BETTER JOB THAN ANYONE ELSE. Good self-marketing skills will take you a long way. You will use them again and again throughout your career and that’s why it’s a good idea to start developing them as soon as you can. Personal interaction is the most important element of marketing yourself. Every recruitment process, sales situation or partnership proposal will involve a face-to-face meeting or interview of some sort and that’s when your marketing abilities will really be tested.
Here’s five ways to start building your personal marketing skills.
1. Sum yourself up in a sentence This sounds easy, but is actually very difficult. What is it about yourself that would interest others? Work out the three or four things about yourself that make you stand out from the crowd. Being able to describe yourself concisely is surprisingly difficult but that’s exactly what you have to do in an interview or sales situation. Even the most experienced CEO can be summed up in a few words. So don’t make the mistake of rambling on about yourself long after you’ve lost your audience’s interest, because you’ll never win it back.
2. Brush up on your sales skills
4. Learn from people you admire
Everyone needs good sales skills. You might be academically brilliant but if you can’t talk about your ideas to an individual or a group in a confident and persuasive manner, your career options will be limited.
Develop your analytical abilities by critiquing others. Look at TV presenters, politicians, lecturers, friends, business leaders… When you see a good sales pitch or an engaging speech, work out what won you over. Was it the content or the presentation?
‘Sales skills’ cover a range of abilities, including preparing and presenting a convincing argument, asking investigative questions and listening carefully to the answers. Good sales people aren’t just slick presenters who are full of empty promises. They’re the ones that know what their audience want and can back up all of their claims with evidence. Although good sales skills come with experience, preparation is vital. Run through some scenarios in your head or with a friend. What might you be asked that you can prepare an answer for now?
3. Present to a crowd A few great business leaders are, by their nature, great communicators. But most have learned to be great communicators and it’s a skill that takes time and experience to develop. So start developing it now. The ability to stand in front of an audience and talk fluently about a subject for ten minutes, without relying on a PowerPoint presentation, is a good test of your ability to engage an audience and explain your ideas clearly. All managers must be able to do this to some degree so start practicing your presentations now. Get feedback on your efforts and find out what your audience thought. The positives will be good for your self-esteem but the negatives are the gold nuggets that will help you be a better communicator.
Quite frequently, the best self-marketers are the ones who appear confident and in control, even when they are nervous inside. So copy what they do – smile, make eye contact and ask questions to demonstrate your interest. All of these things relax an audience and make them feel that they are in safe hands. A nervous, stuttering presentation makes an audience feel uncomfortable and won’t leave a good impression.
5. Believe in yourself This sounds obvious but it’s actually fundamental to how others see you. If you don’t believe in what you have to offer, how can you expect others to? Self-confidence doesn’t come to everyone naturally, so be prepared to invest some time and money in yourself. Work out what weaknesses you have and try to find ways to address them. If you feel uncomfortable when you are being asked questions, book some practice time with a careers adviser or interview coach. If a smart appearance is important, try to choose clothes that fit and make you feel good about yourself. The more you can minimise your weak points, the more confident you’ll feel about yourself and the better impression you will leave.
GET HELP There are lots of free resources out there that can help you develop your marketing skills. We think we’ve got some of the best…
INTERACTIVE INTERVIEWS Ever wondered what your interviewer was really asking with a particular question? Now you can find out. GET has partnered with Jobsite – the UK’s leading job board – to create Be My Interviewer specifically for graduates. Using video clips of graduate recruiters at work, you can see if your answers really tell the interviewer what they are looking for. Be My Interviewer is a great way to learn how to make a great impression, not just a good one. New interviewers are added regularly and include some of the UK’s top CEOs.
GLOBAL MANAGEMENT CHALLENGE The world’s leading management simulation game is now open for business. The GMC is a competition open to students resident in the UK. You and up to four friends can manage a ‘virtual business’, submitting decisions that will make or break your company’s share price. You’ll be playing against hundreds of teams from across the country and the winners will represent the UK against 28 other competing nations at the international final in Lisbon. The GMC is a great way to learn about business strategy and making decisions as a team.
ITS ALL ABOUT YOU PART ONE
THE WORLD IS FULL OF YOUNG, AMBITIOUS PEOPLE. PEOPLE WHO DON’T SIT AROUND WAITING FOR THINGS TO HAPPEN – THEY ARE OUT THERE, MAKING THINGS HAPPEN. This section is dedicated to letting you know who they are…
Name: Age: Occupation: Location:
Sumanth Inukonda 28 Financial Journalist London (originally from India)
I currently study at The London School of Economics. As proprietor of Academic Books I was involved with marketing text books to Libraries and Individual Academics back in India. I also maintained records for the company and contacts with Publishers. I have recently interned with a TV News Broadcaster, NDTV Profit, in New Delhi. I would like to work as a financial news journalist. If anybody is interested to sample some of my work please get in touch. To contact Sumanth email S.Inukonda@lse.ac.uk
Name: Liam Rhodes Age: 17 Occupation: Managing director of iFuse Technologies Limited Location: London At the age of 15 I was named the youngest Managing Director in Britain, which generated vast amounts of media coverage. Now 17, my business, iFuse Technologies Limited, is branching out from web hosting and enterprise education software into MMORPG's (that's Massively-Multiplayer Online Role-Playing Games!) We're launching our enterprise product very shortly. We are very confident that this will provide enough profit to invest in other potential money-makers. I'm in this for a long time, not just short-term monetary gain... To contact Liam visit www.ifusegroup.com
Name: Sarah Lucy Smith Occupation: Co-founder of Green Knickers Location: London GreenKnickers is a project designing and selling attractive fun underwear that is ethical. All products are produced in the UK using a fair trade co-op for underprivileged women and are made using ethical organic fabrics. I run the company alongside my business-partner Rose Cleary-Southward. To contact Sarah visit – www.greenknickers.org
Name: Tom Savage Age: 25 Occupation: Co-founder of Blue Ventures Location: New Zealand My company, Blue Ventures, is a not-for-profit organisation dedicated to facilitating projects and expedition that enhance global marine conservation and research. Since 2002, we have run over 16 expeditions to Madagascar, Tanzania, New Zealand, The Comoros and South Africa. Blue Ventures co-ordinates expeditions consisting of scientists and volunteers working hand-in-hand with local biologists, marine institutes, NGOs, and communities whose livelihoods depend on these ecosystems, to carry out research, environmental awareness and conservation programmes at threatened habitats around the world. To contact Tom visit www.blueventures.org
Name: Age: Occupation: Location:
Alistair Dean 29 Clothes Retailer Brighton
I run a shop called Eclectic Threads in Brighton. Check out my interview on this site! If you're a clothes designer or graffiti artist I'm always interested to find new products for my shop. I sell on an S.O.R. basis. If you're interested send all proposals via my website. To contact Alistair visit www.eclecticthreads.co.uk
Name: Alexander Ward Age: 23 Occupation: CEO of Red Tiger Design Location: Essex I'm the founder, CEO and selfconfessed workaholic of branding, design and print. I started the business in 2001 and brought Red Tiger to the position it is today; one of the leading agencies in Essex. Red Tiger bases its activities on core beliefs of providing solutions in a professional, innovative, creative and passionate way. At the RT offices on Mersea Island (near Colchester, Essex) I manage projects with clients such as Essex County Council, the International Communications Group, Press Gazette (UK) and Hetherston Food & Events. In addition to running the business I'm also an independent branding consultant, writer and artist. To contact Alex visit www.redtigerdesign.com
PROPERTY…GET ON THE LADDER
UNLESS YOU HAVE BEEN LIVING ON THE MOON, YOU WILL NOT HAVE MISSED REPORTS OF THE UNFORTUNATE SITUATION FACING ANYONE WHO WANTS TO BUY THEIR OWN HOME. THEY CAN’T AFFORD IT. House prices are almost universally outstripping average first time buyer wages by almost eight times, leaving them with the prospect of unmanageable monthly mortgage repayments if they do decide to buy. On top of that, there are rising interest rates, which make the cost of borrowing even higher. So to reach that first rung is looking almost impossible. However, buying property is never going to be a bad idea and the sooner the better. If you do decide to do it, you will almost certainly require a leg-up. Help comes in several forms. You might not like it, but parents are often the best place to go first. This is because the Bank of Mum and Dad may have enough cash to give you for a deposit on your first home. Saving up for it yourself will take years, frankly, and you could be waiting until you are drawing your pension if things continue the way they are.
The bigger the deposit, the less you have to borrow from the bank and the lower your repayments. Banks also reduce interest rates for borrowers with bigger deposits. Aim for a deposit of ten per cent or more of the total loan amount. Parents can also act as guarantors on your mortgage, which means that they are effectively saying to the mortgage lender that if you don’t pay up, then they will come to your rescue. This again reduces the risk to the lender of you defaulting on repayments (which is what they care about, obviously). If parental help is not an option, all is not lost. Mortgage lenders are desperate to keep first time buyers coming onto their books, not least because it stimulates demand in the whole housing market, so they have been coming up with ever more inventive ways of improving affordability. Sharing with friends and family is the latest to hit the headlines. Some lenders, such as Britannia building society and HSBC, will allow you to share your mortgage with up to three other people. Because how much you can borrow is calculated on the basis of income, more incomes means a bigger mortgage and hopefully a better house. It also means that between you, you should be able to rustle up a bigger deposit. The downsides to this are, of course, the possibility that you end up falling out with your housemates. A dispute with a mate becomes more complicated when you share a legally binding agreement for hundreds of thousands of pounds. Also, when you come to sell, you will be splitting any profit, reducing the return on your investment. Lenders will also offer some borrowers 100 per cent or more of the property value, so you don’t need a deposit. The catch is higher interest rates on this kind of loan. They also put you at
risk of what is called negative equity – which basically means you are making a loss rather than a profit on your house – if your property does not go up in value by enough to cover the extra debt you took on. Government schemes designed to help the cash-strapped masses own their own homes are around, however the waiting lists are huge. “Key workers” such as teachers and nurses, are usually given first dibs on these schemes, so it is worth putting your name down, but don’t hold your breath. Some budding property magnates who want to buy purely for investment purposes are increasingly looking abroad to buy, in places like Bulgaria and Poland, where property is cheaper because housing markets in those countries are less developed. But this is a big undertaking with plenty of unknown risks. The better the devil you know, as they say. If you want a good mortgage, a broker is worth it – first time around at least. This is because they can search the whole of the market for you. While
they have a dodgy reputation – second only to car salesmen, perhaps, for shiftiness, there are plenty of legit guys out there who you might willingly share a cup of tea with at any other time. If you do cut out the middle man, be aware that most first-time buyers should steer themselves towards fixed rate loans, as these offer more certainty at a time when you are leaping into the unknown. If you do buy, remember that there are literally tons of extra costs on top of the actual house price, like stamp duty, furniture and council tax. Also, for those with an extra room, remember that you can let spare rooms in your property and earn up to £4,250 a year tax-free. If all of the above fails…marry someone rich!
WORDS - REBECCA O’CONNOR
FIND STARTUP MONEY
MANY OF US WANT TO START A BUSINESS BUT ACTUALLY MAKING IT HAPPEN IS A WHOLE DIFFERENT STORY. FIRST, YOU NEED AN IDEA, THEN YOU NEED TIME TO DEVELOP IT THEN, ABOVE ALL, YOU NEED (YES YOU GUESSED IT) MONEY! ALBERTO NARDELLI, FROM THE SOCIAL ENTERPRISE CHARITY WWW.UNLTD.ORG.UK, AWARDS GRANTS AND LOANS FOR A LIVING. Fundraising is one of the most complicated tasks when setting up a project and during the development you may want to apply for additional funding to take you that step further. This can be frustrating and time consuming... but it’s essential. Fundraising is a very broad area so focusing on the essential requirements, needs and areas where you require help is crucial.
How do I go about getting further funds? There are many different ways to bring resources to your project and all of these can be considered fundraising. For example, you might apply to a charitable trust or government body for money, or you might hold a raffle or a jumble sale to raise some cash. But fundraising doesn’t have to be all about money – it might involve asking companies to donate goods, skills, support or human resources.
NEXT STEPS 1. Identify the need It is important that you are sure there is a demand for what you want to do. Once you have shaped your idea you need to think about what resources you require to make it happen. It is important that you are clear about this before you start developing your strategy. At this stage, you should try to think through as many options as you can – although you probably have an idea in your head about how you want to do things, there might be viable alternatives that are easier or more cost effective. The key element in identifying need is pinning down exactly what you’re fundraising for: what you need, and why you need it: what is the value and impact of your project if it were successful in its fundraising efforts?
2. Develop a fundraising strategy The next stage is to develop a strategy to show how you intend to raise the money required. A fundraising strategy sets out what a project’s funding needs are likely to be over a
future period and outlines how resources will be identified and raised to meet those needs. A good funding strategy will include what the money is for, where it will come from, how much will be sought and when it is needed – and depending on the funding type, how the investors will get their money back. It is important when developing your fundraising strategy that you do your research. Different funders will have different priorities and deadlines, and the most successful fundraisers know the best approach is to target funders whose criteria best fits with their project. It is crucial to identify backers who clearly support your issues of interest (check what they’ve funded in the past) and grant the amounts/resources you need i.e. do their funding guidelines match your budget requirements and do their grant sizes meet your requests? It is better to submit a few well-chosen applications than hundreds of speculative ones; this will save you time and disappointment!
3. Put your strategy into action…
4. Managing the money and relationships
Once you have developed a strategy you think is realistic, the next step is to get started. This means getting your applications in as well as planning non-application based activities, such as raffles, jumble sales or events. As a general rule, where applications are concerned, the more funding you ask for the greater level of information you will need to provide. Some funders will have an application form, and others will ask you to submit a few pages explaining your request. Either way, you will need to make sure you can explain clearly why you are asking for money, why it is necessary, who your project will benefit, how you will do it and what you will achieve. Don’t forget to be clear about the difference the money will make and what won’t happen if you don’t get it. Most applications take at least four to six months to be processed and can often take longer. Plan this long lead-time into your strategy. The key is to provide all relevant information clearly, in a concise format, answer the main questions, don’t get lost in jargon and don’t duplicate information that you have already provided.
Once you have approval, you really need to build a good relationship with your benefactor. Write to them and thank them for their support. Make sure you fill out any reports they need, and send them regular updates about your project and your plans for the future. Make sure anyone who has given you money knows how important their support is to you and how valuable it is for everyone in your group. There might also be some administration you need to deal with before you can actually receive the money. Read the terms and conditions carefully so you understand the commitment you are making. Think about the reporting requirements and how you will address them. It is also important to remember that keeping a business alive is an ongoing process – if you have raised all your money, congratulations! Now is the time to start the cycle all over again.
In Summary Define your needs and how these will enable true impact. Identify a funder that matches these needs and is interested in the impact you will potentially generate. Communicate clearly what you want to do, how and why you want to do it, what you need to succeed, and how and why the funder you’re approaching is ideally positioned to support you. Finally, and importantly, don’t be afraid to ask for advice, help and feedback. Remember for every successful application there will be many more unsuccessful ones, so be persistent and determined – fundraising takes time.
WORDS - ALBERTO NARDELLI
SIMON MANSELL DOESN’T DO SELF-DOUBT. THE DAILY MAIL ‘ENTREPRENEUR OF THE YEAR’ HAS A CONFIDENCE BELYING HIS 28 YEARS. BUT CONSIDERING TBG LONDON, THE DIGITAL MARKETING AGENCY HE SET UP SIX YEARS AGO, NOW HAS A TURNOVER IN EXCESS OF £13.5 MILLION, THAT SHOULDN’T BE A SURPRISE. With a client list boasting the likes of American Express, Harrods and Virgin, and an expected £25m turnover this year, who can blame him?
basis. If he didn’t achieve, the client wouldn’t pay. The risk was all his. But a first year turnover of £1.7m was proof he was right. Six years later, and the business has progressed from a project started in a bedroom to swish Kentish Town offices - a hub of young, energetic workers.
“There’s no point going into anything unless you know for a fact you can do the job well,” he announces. “I put most of what I’ve achieved down to my sales skills. I’m excellent at getting people interested in a product and that’s what counts. If you’re good at that – success will follow.” He should know. Corporate giants were lured to Simon’s advertising service even when TBG was a mere fledgling start up. “When I set up the business from my bedroom, my first calls were to the large organisations. These companies have money to spend, far more than smaller establishments. I used my common sense and went to them.” It was September 2001 when Simon had his “Eureka” moment. At a time when dot-com had become a dirty word, he stepped in with the stealth of a fighter pilot and took the industry by storm.
SIMON MANSELL founder of TBG London
“My main aim was to make money, and quick,” he says. “I chose to start up when I did because nobody was touching anything web-related. However, I saw a niche and just went for it. “Although the industry was at an all-time low, the big organisations still had websites and they still wanted to make sales.” Realising that businesses’ tolerance for risk was low, Simon approached potential clients on a results-only
“We like to do things differently here. I want my employees to be happy and feel as if they are working somewhere cool and fun. If you’re lucky enough to work here you WILL be content and enjoy your time. But it’s not easy to get through the gates. If you want to work here, there are a number of difficult tests and three intense interviews.” It’s this strict recruitment process and an eye for detail as sharp as his crisply ironed shirts that’s given Simon the edge over his competitors. Currently one of the top four UK media agencies, the need for fast, proven results permeates the company. “TBG never beats around the bush,” he says, “And we’re honest about the results we get. Companies are interested because there is no
“Some see me as a bit pushy and others see me as only interested in one thing; money. I don’t care. TBG is here to do a job and we do that job exceedingly well. We are not a charity, nor are we here to sweeten people up. What we offer is a simple service and you can either take it or leave it.”
financial risk. Thankfully, we are very good at what we do.” The influence of Simon’s role model, Rupert Murdoch, is clear. Murdoch is not known for his humility, but his business acumen. “He’s amazing! More than anything, I’m a great fan of how he keeps such a low profile and doesn’t rely too much on the media or publicity stunts. The guy’s a businessman at heart and he’s extremely good. Pure focus and speed: nothing more, nothing less.” Although obviously in awe of the legendary media mogul, Simon doesn’t seem to posess the fearsome streak for which Murdoch is famed. But Simon’s politeness hides a ruthlessly business-like attitude, something he’s not apologising for. “When doing deals I’m often not liked,” he announces proudly. “Some see me as a bit pushy and others see me as only interested in one thing; money. I don’t care. TBG is here to do a job and we do that job exceedingly well. We are not a charity, nor are we here to sweeten people up. What we offer is a simple service and you can either take it or leave it.”
Simon clearly loves what he does. He also admits to enjoying the luxuries it brings him: the Lamborghini Murci lago, Aston Martin DB9 and a Ford GT in the drive are testament to that. But the changes caused by entrepreneurial success are only superficial, he insists. “I’m the same guy I always was, it’s just I’ve got a bit more money now. I’ve made it a priority not to become the idiot so many people do when they make money. Yeh, I’ve got a few more luxuries in my life but they haven’t affected me, or my attitude. I’ll never be one to waste my days away on a yacht.” “I like getting things done and the feeling achievement brings. That’s what will always drive me forward.” Simon also directs his energies to giving something back to the community. He recently attended “Camp Over the Wall”, a charity that helps sick and disabled children. “I’m not one to brag about my charity work but it’s something I like to do. Working with people who are worse off than you puts everything in perspective. Some people have awful problems. When I look at what’s going on in my life it often seems terribly
trivial. I try not to take anything for granted and I still love the simple things; tea, a comfy sofa, friendship.” This attitude means, despite the self-admitted air of arrogance cloaking Simon’s shoulders, he hasn’t forgotten where he’s come from. “Sometimes it’s very hard to believe. I’m 28 and my business is turning over huge amounts of money. I often just sit back and think how far I’ve come in such a short space of time. I’m amazed, and so are my family…” What makes Simon such an appealing character is his “no bull” demeanour and self-parodying humour. When asked if we can take a photograph of him next to his Lamborghini he smiles and suggests we have him smoke a cigar, and swim in a pool of cash. Well, why not? As he says: “I’m living the dream and I’m not planning to wake up anytime soon.”
WORDS - KATHERINE DUNN
SIMON’S TOP FIVE BUSINESS TIPS 1.
Be good at sales. Get a job doing telesales for a few months and see how you like it. Find a style and stick to it. There are a number of tactics you can use. Many see it as a numbers game, but I don’t. I personally feel the best way to sell something is make sure the person or company you’re approaching actually want it – that makes things an awful lot easier.
Don’t rely on anybody else. If you want something done, get up off your arse and do it. Get the ball rolling yourself and only involve others if absolutely essential.
Stick to the priority of business. You are in this to make MONEY. It has to be fun but, at the same time, making a profit is paramount.
Take every opportunity you can. Even when you’re not working, if you meet somebody who you feel might be able to help with your business – get a card and speak with him or her. Who knows? They may be of great use in the future.
Never change. If you begin turning over a nice bit of money, don’t lose track of who you are and where you come from. So many people are sucked into a fake way of living it finally becomes their demise. Stay true to yourself and your aims.
ITS ALL ABOUT YOU PART TWO
THE WORLD IS FULL OF YOUNG, AMBITIOUS PEOPLE. PEOPLE WHO DON’T SIT AROUND WAITING FOR THINGS TO HAPPEN – THEY ARE OUT THERE, MAKING THINGS HAPPEN. This section is dedicated to letting you know who they are…
Name: Rajeeb Dey Age: 20 Occupation: Founder of studentvoice.co.uk Location: Oxford
Name: Grant Lang Age: 25 Occupation: CEO of www.mozzocoffee.com Location: Southampton
I began work on developing ESSA in November 2003 alongside my A-levels. I first came up with the idea after hearing about secondary student unions in other European countries and thought to myself – “if they have one, why don't we?” and since then I've been able to generate widespread support for ESSA. ESSA now employs two full time members of staff and has offices in London Bridge. I'm not new to youth politics and young people's participation issues; I was the figurehead of Chelmsford Borough Council's “No Vote…No Voice” Campaign – to promote young people to vote in the local elections and Vice-Chair Finance of the Chelmsford Youth Council. My work with the Youth Council led me onto winning the DfES Exceptional Community Champion 2005 Award and being a Finalist in the Windrush Achievement Awards in 2004. I'm currently a Co-optee on the Trustees Board of the Carnegie UK Trust, as well as a Trustee of the Phoenix Education Trust. I was also awarded a Young Leaders Award from the Royal Society of Arts and a Wavemakers Award by Sir John Major.
In 2003 I started Mozzo Coffee which is a coffee cart or tuk-tuk, that uses natural energy to serve fairtrade coffee to the community. Following on from the success of the cart I'm now developing the Mozzo Community-2Community Fund. The fund will be focused on providing artists with employment opportunities which in turn will benefit the community. I'm currently establishing an interactive website where individuals can vote for the artists they think should receive support from the fund. It will also have a 'fund tracker' that will allow people to see where money is going, and how their coffee purchases are contributing to communities here and around the world, as well as how artists are benefiting from Mozzo's funds. If you are an artist who would like your work showcased or have any ideas please give me a shout.
To contact Rajeeb visit - www.studentvoice.co.uk
Name: Zadi Diaz Occupation: CEO of Smashface Productions Location: Los Angeles I’m co-founder and principal of Smashface Productions, a new media production company based in Los Angeles, California. I’m Executive Producer of the Vloggie® award winning American youth culture show JETSET, as well as RSSnews.tv, New Mediacracy, Vidlicious and others. My work has been highlighted in The New York Times, Forbes Magazine, CBS Evening News, Business Week, and The Independent, among many other national publications and programs. To contact Zadi visit www.smashface.com
Name: Richard Price Age: 26 Occupation: Co-founder of liveout.co.uk Location: Oxford
Name: Robert Parris Age: 26 Occupation: DJ/Record shop owner/Promoter Location: St Albans
LiveOut is the first online student property database in Oxford. Our aim is to make the process of finding a student house much quicker and easier. Features of the site include:
I own a record shop called Manic Vinyl. We also have an internet radio station and a number of club promotions. I'm always interested to meet new DJs and MCs. The business has been going for around three years now. we have a number of new enterprises about to happen and I'm always open to new ideas, whatever they be. So, if any of the above interests you...contact me!
• 90% of Oxford 's estate agents list with us • 600 properties in our database • Photos and Google maps of the properties • 100% free for students to use • Flatmate-finding forum for students to find flatmates
To contact Robert email Management@ManicFM.com
Other members of the team include Stephen Hartley, Dave Nash, Alasdair Bell and Paul Doerwald. To contact Richard email firstname.lastname@example.org
To contact Grant email email@example.com
THE RULES OF WORK
THE WORKPLACE HAS NEVER BEEN THE MOST EXCITING PLACE. PEOPLE MOPE AROUND, PHOTOCOPIERS INCESSANTLY HUM LIKE MEDIEVAL MONKS AND THE CLOCK SEEMS TO MOVE SLOWER AND SLOWER AS IF MAKING THE DAY LONGER AND LONGER. Not any more! Top-selling author, Richard Templar, has revolutionised office-life by turning it into an exciting, mind-stretching, challenging game we can all play. We just need to follow the rules…
01. Know your job well
05. Be aware that you are on show at all times
08. Understand the system – and milk it
Whatever job it is you do, know it well. Learn the history of your industry. Know not only your own small cog bit of it but everyone else’s as well - learn the process from start to finish. Become a living walking encyclopædia of what your business does and how it does it. But don’t bore anyone with this information and don’t let anyone see you leaning it. Just know your job and know it well.
When you are working you are both doing your job and presenting an image for future promotion and advancement. Everything you do and say is being judged and will be used to make assessments of your potential, your suitability and your possibilities. And that does mean everything – the newspaper you read, the pen you use, the way you speak and walk and dress. Make sure that everything presents an image of quality, charm, success and professionalism.
Every work place has a number of ‘systems’ – who does what, where things are stored, what happens at conferences, how things take place. Your job, when your not busy doing your job, is to find out all these systems and then use them to your own advantage – no, it doesn’t mean stealing anything just using the information to make your own job flow that bit more smoothly.
02. Dress the part You are in business and have an image to keep up so dress the part. Dress sharply and smartly and always present a professional image. You aren’t there to lounge around so turn up looking as if you are serious and want to be taken seriously. Make sure everything fits and is neat and clean. This isn’t a fashion catwalk; it is business so keep it simple and unadorned. Make sure your clothes are the highest quality you can afford.
03. Know where you are going
RICHARD TEMPLAR Top-selling author
Look, you’ve got to have a plan. Without a plan you are lost, adrift, all at sea. You must have a destination or you could go round in circles or fall off the edge of the world. A plan can be flexible, abandoned, changed, but you do need one in place to monitor your progress and have something to aim for. Ideally you should have 4 plans – one for this week, this month and this year – and a long range one for the next few years.
04. Be nice In business you are going to rub up against some pretty unpleasant characters – true of all life actually. Learn not to rise to the bait if you get wound up, dumped on, messed around, teased, whatever. Keep a civil tongue in your head and if you can’t say anything nice don’t say anything at all. Be polite at all times. Don’t swear or be abusive to others. Be charming and courteous and treat people with respect.
06. Be utterly professional You are not here to steal the pens, flirt, goof off, take it easy or swan about looking cool. You are here to do a job. Do it and discharge your duties with utter professionalism at all times. You can’t afford to have lapses or off days or bad moments. You should be reliable and dependable and totally consistent – turn up late just once and you’ll be a bad timekeeper, turn up drunk once and you’ll be labelled an alcoholic, turn up casually dressed just once and they’ll think you a scruff.
07. Know who counts and who doesn’t And hang out with those who count obviously. This isn’t toadying, merely a fact of life in business. Some people make the place function and others are here for a free ride. If you hang out with those who do the work you’ll get on. Hang out with the layabouts, the shirkers, the rebels and you’ll get lumped in with them no matter how well you do your job.
09. Get ready to be promoted No matter what job you are doing now; get ready for the next step up. And that means consciously rehearsing, practising for that job so that if it is offered to you, you can slip into the role easily and comfortably – why, it’s almost as if you had been practising, which of course you have. Watch how the person doing the next job up from yours does it now. How could you do it better? What do they do that you don’t?
10. Watch your back There are people in business who get jealous, hate competition, just like a wind up, enjoy making others suffer. Watch your back at all times and trust no–one. Make sure you do everything properly and that there is nothing you could be accused of at any time. Don’t take short cuts, chances or liberties. Be honest, hard working, alert and industrious. You’ll go far. You’ll be a Rules Player.
WORDS – RICHARD TEMPLAR
Richard Templar unfortunately passed away early last year. $uccess Mag would like to offer their sympathy and condolences.
SPARE MONEY? INVEST WISELY
THE CONCEPT OF HAVING SPARE MONEY SEEMS A BIT OF A JOKE WHEN ALL YOU HAVE TO LIVE ON IS POCKET MONEY AND A STUDENT LOAN. APART FROM PEOPLE WHO PROBABLY AREN’T MUCH FUN, WHO ACTUALLY HAS MONEY TO PUT ASIDE WHEN THEY ARE IN THE PRIME OF THEIR YOUTH?
Apart from people who probably aren’t much fun, who actually has money to put aside when they are in the prime of their youth? Having enough cash to scrape together three meals a day and, if you are lucky, an inter-rail pass, is of far more concern. But one day, with luck, you will have spare money and when that day does arrive – you need to be prepared, or you’ll end up spending it on something frivolous…… like shoes, or beer! Buddhists may believe that what you give out comes back to you tenfold, but with money, this concept doesn’t work. Spend it, and it is gone forever. Invest it, however, and that tenfold rule might just apply. Why? Well, if you invest money, you should eventually have more of it. An investment company once gave me a bonsai tree as a gift; apparently it’s a symbol of wealth. Look after it, they said, and it will bloom. How much it will bloom depends on where you put it and how long you leave it there for. A bonsai tree needs watering, pruning and putting in a place just out of direct sunlight that’s neither too hot nor too cold. Similarly, your money needs exactly the right conditions to grow. Investing doesn’t just mean buying shares. The simplest and most popular form of investment is saving. Savings accounts are investment vehicles by a more familiar name. They are simple because, in most cases, the return you receive on the money you put in is guaranteed at a certain rate, for example six per cent per year. This figure is the amount of interest you earn - essentially a reward paid to you by your bank or building society, for letting them look after your money. Because interest is paid as a percentage, the more money you put aside, the bigger the
reward. At its simplest six per cent of £100 is £6 in a year, but add another £100 and you’ve earned £12 at the end of the year. By its longer title interest is known as compound interest, and it is this compounding effect that makes saving really worthwhile. There is a compounding formula which is complicated to work out, but essentially it means that you earn extra interest on the interest already paid. So, taking the above example, in the second year, you will receive six per cent interest on £106 instead of £100. Unfortunately, working out how much you will receive is not always so straightforward. Interest is further complicated by the Government, which classifies interest as a form of income and taxes it accordingly. Cash sums below £3,000 a year can be tax-free, however only if they are kept in a special savings account known as a cash ISA, or Individual Savings Account. There are also things called maxi ISAs, which allow investors to put up to £7,000 a year into stocks and shares without paying tax. It is usually a good idea to build up a savings buffer in cash of around £10,000 before investing money elsewhere. This can then be used in emergencies, such as an unexpected job loss or for mundane but expensive events such as boiler breakdowns. There are thousands of savings accounts to choose from, so you need to decide what, besides the rate of return, is important to you. Many people find simple instant access accounts that can be managed online the most friendly type of savings account. There are no golden rules to investing. Most financial advisers recommend that once someone has built up substantial assets, these should be divided equally between low, medium
and high risk investment vehicles. But this can change depending on your age and financial status and the type of person you are. We are not all born risk-takers. If you are more about slippers and a cosy chair than skydiving, you might be better off taking a cautious approach to investing. However, many advisers believe that young people, who have time on their side, are in a better position to take on more risk with their investment portfolio in the early days. They say that as you get older you should gradually switch away from the unpredictable investments towards safer ones. Low risk investments, such as savings accounts usually yield a lower return. Bonds (essentially a loan to the issuer) are another type of low risk investment. They tie up your money for a number of years and the longer it is tied up, the higher the interest rate on the bond. Fixed income is also low risk, paying you an agreed amount on your investment at intervals. The price you pay for the prospect of higher returns is greater risk. Medium risk investments are usually those that are spread between a mixture of different “asset classes” or types of investment. They might, for example, invest in companies with a track record for steady long-term growth in industries where performance does not tend to fluctuate wildly, such as retail. High risk investments are those with volatile or unchartered performance, such as companies in “emerging markets” like India or China. Some famous investors, such as the American Warren Buffett, or Anthony Bolton, a former UK fund manager, have built up incredible reputations
Cameron Kennedy Specialist Financial Recruitment
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Our culture is focused clients and020 candidates 20 Abchurch Lane . around London .our EC4N 7BB . Tel 7337 0011 through their shrewd capacity to understand which investments are likely to make the biggest returns. Timing is said to be one of their secrets. Mr Bolton is known to favour buying stocks at a time when they are undervalued by the rest of the financial market because this is when they have the most potential to grow. The time to sell stocks and shares is typically just before you think they are likely to fall in value. Of course, if you think they won’t fall by very much and are likely to rise again, you may decide to hang on in there. However, instead of trying to second-guess financial markets, which have a mind of their own, amateur investors are better off sticking to some basic principles. Sensible investment requires a sensible attitude to money. First, you have to learn to see money as something other than a means of buying stuff. One advisor, who specialises in making young people save for pensions, calls this a switch away from the values of “instant gratification” towards “delayed gratification”. If you could have one biscuit now or two in an hour, which would you choose? To be a sensible investor, you have to understand the benefits of choosing the latter. Advisers usually suggest, that to reduce the risk of your investments losing value, all investments should be for the long-term – more than 10 years. This gives some protection against economic cycles of boom and bust. The chances are that the longer you invest for, the higher your eventual return will be. In some cases, funds will guarantee that you will at least receive back your original investment, even in cases where the fund performs poorly. In others, you can end up losing the lot.
Poor investment performance can be disastrous. For instance, millions of homeowners have been hit by a scandal involving a type of investment known as an “endowment”. With endowments, the investor pays a certain amount into a fund every month for a set period of time with the intention of using the money to pay off a mortgage at the end. However, in hundreds of thousands of cases, endowments have performed poorly leaving many investors without the ability to repay their mortgage at the end of the term. Another recent scandal, involving a type of investment known as a “split capital trust”, has also proved disastrous. The Financial Services Authority is the regulatory body that sets up guidelines for investment vehicles and requires all investment companies to set out the levels of associated risk. Before making an investment, it is vital to read up on the worst-case scenarios you could face if things don’t work out. If you are not sure what to do by yourself, an independent financial adviser can help you make a decision on where to put your money. But these guys, although regulated by the FSA, can sometimes get it wrong too, so it is important to find one you like and trust. A good place to start is the website www.unbiased.co.uk. Advisers and fund management companies usually charge a small percentage fee for looking after your investments. This means it’s usually only worth approaching them if you have a fairly significant sum of cash to invest. Of course, you can always do it yourself. But there is one pitfall of which you should be wary. Very often, amateur investors who go-it-alone tend to pick retail stocks in high
street companies that they have heard of, such as Tesco or Barclays, or in their favourite football team. There is nothing wrong with this fundamentally, except most fund managers agree that an investment should be a decision of the head rather than the heart, and people who invest because they have an emotional attachment to a company are doing so for the wrong reasons. Despite this, there has recently been a spate of ethical fund launches, that do not, for instance, invest in companies involved in oil, arms or tobacco. There are also religiousbased funds, for people who cannot invest in certain industries because it contravenes their religion. Above all, investing should be fun as long as you understand the risks, and remember, you’re never too young to start saving. The earlier you begin the more your money can make over the years. The price you pay for the prospect of higher returns is greater risk.
WORDS – REBECCA O’CONNOR
Cameron Kennedy is a leading, London-based financial recruitment consultancy specialising in Banking, Insurance, Investment Management, Hedge Fund, Private Equity and Commerce and Industry vacancies. We provide some of the best recruitment services and solutions in the financial industry. Project Accountant London £95k - £110k + Bonus + Benefits
Internal Auditor - Market Risk London £70k + Bonus + Benefits
They are part of a global banking group who provide essential services within institutional services, wealth management and private client brokers, financial institutions and banks. Reporting to the CFO, you will be a key Finance subject matter expert on projects and new product development by the business. You will deputise for the CFO as required and manage relationships with customers, head office, vendors, and auditors. You will participate in senior management working groups and committees. You are a qualified accountant (with US/UK GAAP exposure) with significant PQE and a broad knowledge of the securities industry. Email: firstname.lastname@example.org
This Investment Bank has an opening for an Internal Auditor with an auditing and accounting qualification with an exceptional academic background. The successful candidate will have audited product/market risk relating to Global Capital Markets and Resource Banking. You will have worked within the banking sector with detailed experience of auditing either as an auditor-in-charge or working in a team. Understanding of the ‘greek’ and VaR and any knowledge CAD II would be a distinct advantage. Whilst the role is primarily London based there are a number of overseas locations in which audits may be scheduled. The role will entail overseas travel of 10%. Email: email@example.com
Family Office Accountant London £55k - £70k + Bonus + Benefits
Commercial Financial Analyst London £60k + Bonus + Benefits
The role will involve looking after and managing the personal finances of a partner of a large European Hedge Fund Business. Initially you will deal with all aspects of the partner’s personal finances, including processing invoices, bank account reconciliations, cash movements, balance sheet verification, payments, family trusts, investment applications and asset management. It is expected that after having obtained the confidence of the partner, you will recruit a junior to deal with all administrative tasks and will start to develop the role further. Email: firstname.lastname@example.org
They are a corporate information solutions company. Your responsibilities will include commercial support for new and existing business proposals, including commercial advice and challenge for new business and renewals, creation of pricing models in excel to include scenario analysis creation of approvals pack for new business meetings assessment of deal risk, managing relationships with internal stakeholders, review of contracts and involvement in the negotiation process ad hoc project work of a commercial nature e.g. investment appraisals, project business cases. Email: email@example.com
Financial Controller London £50k - £60k + Bonus + Benefits
Internal Audit Manager Essex
This top-tier venture capital firm and one of the largest VC firms in Europe, is expanding its franchise further as the premier firm in its sector, and is now looking for a talented individual to assume an important position in the Finance team reporting to and working alongside the CFO. The role is varied and includes all aspects of reporting including treasury, budgets, management accounts, statutory accounts, partner reporting, review of funds and their admin, investor queries, portfolio analysis and ad hoc queries. This will suit an ACA either from practice or any industry. Email: firstname.lastname@example.org
They are a manufacturing leader in it’ s category with business in more than 130 countries and employ over 35,000 professionals. You will be responsible for completing Audit assignments within the international plan. Audit assignments are either by cycle (UK, France, Germany) or individual entity based on the size of the operations concerned. Will consider all candidates regardless of experience but must be ACCA or ACA qualified and looking for an internal audit position within a large multinational organisation. Email: email@example.com
Manager - Financial Control London £70k + Bonus + Benefits
Management Accountant - Insurance London £60k + Bonus + Benefits
European top financial institution is currently seeking a qualified Accountant to take overall responsibility for the financial control, data integrity and projects. To qualify you will have solid accounting experience gained in the Banking sector with broad knowledge of banking products including Lending and Treasury (eg Money market, Derivatives). You will have an understanding of the complete trade life cycle and the impact upon Financial Reporting. Experience of previous GL implementations and process design with proven experience of leading teams of up to 6 plus is essential. Email: firstname.lastname@example.org
Top-tier Insurance Broker has an opening for an experienced Management Accountant to join their growing team due to expansion of the business. Responsibilities include monthly reporting to management and assisting in the preparation of annual budgets and preparing the Management Information packs and providing commentary and recommendations to the board. You should also have experience of preparing FSA submissions and statutory accounts and should be a qualified accountant. In return this role carries a first rate salary and benefits and progressive career options within a growing organisation. Email: email@example.com
Corporate Finance Executive London £50k + Bonus + Benefits
Financial Accountant - Insurance London £60k + Bonus + Benefits
Dynamic corporate finance boutique with ambitious growth plans is looking for a recently qualified ACA with a strong academic background. You will work with entrepreneurial individuals on a wide range of transactions and activities including M&A, advisory, fund raising, debt issues, and PE deals. You will gain responsibility and early exposure as well as on the job training. Email: firstname.lastname@example.org
Global run-off Management Group has an opportunity for a Financial Accountant to join their team at their corporate offices in the City. You will be responsible for the statutory accounts, FSA submissions, preparation of Management Information, VAT and key financial controls and will report directly into the FC in this small team. The group offer excellent career opportunities based at the corporate offices in Guildford so you will need to be flexible between the two locations and ideally you should be a qualified accountant with experience within Financial Services preferably the Insurance industry. Experience of reporting in USGAAP would be a real advantage. Email: email@example.com
£60k + Bonus + Benefits
www.cameronkennedy.com 020 7337 0011 Banking . Insurance . Investment Management . Hedge Funds Private Equity . Commerce & Industry
SABIRUL ISLAM IS ANYTHING BUT YOUR EVERYDAY SEVENTEEN YEAR OLD. NOT ONLY IS HE WELL ON HIS WAY TO MAKING HIS FIRST MILLION; NOT ONLY IS HE AN EXPERIENCED INVESTOR HE’S JUST WRITTEN HIS FIRST BOOK! $UCCESS MAG CAUGHT UP WITH THE TEENAGE PRODIGY TO DISCUSS LIFE IN THE FAST LANE… Aptly entitled: “The World at Your Feet”, Sabirul’s new book is his way of giving something back. With 30,000 copies sold already it is 91 pages of pure motivation. Full of aspirational quotes and invaluable advice the book encourages young people to take an entrepreneurial route rather than one of crime and violence. “I’ve had a very successful few years,” Sabirul states. “Although I was never given anything on a plate, I still thought it was important to pass on all the valuable lessons I’ve learned. Some young people need that extra push.”
SABIRUL ISLAM founder of The World at Your Feet www.theworldatyourfeet.com
Having started his own web-design business, Veyron Technology, at the age of 14, Sabirul was always destined for great things. Later he began to show interest in investment and took part in the Merrill Lynch Atlantic Fellowship programme in New York. This is where he learned the basics of investment - much of which he passes on in the book.
Sabirul Islam has his fingers in a number of pies, however, it seems this new book has been filled with his enthusiasm… “Being raised in a society that sees crime and violence as a way forward, I believe my book can inspire young people to think differently. Every individual has unique abilities and, when exploited, they can bring the world to their feet; whether it’s for them to make the millions they’ve always wanted or to put a smile on a million faces, I believe that what I have learned on my entrepreneurial journey through Veyron Technology is priceless when it comes to sharing it with the community, by inspiring them and making them believe that impossible is nothing.” "The World At Your Feet" is a book of inspiration for all young people, on how to follow their entrepreneurial vision and make it a reality by helping them exploit what Sabirul calls the ‘three strikes’: the intensity, the integrity and the intelligence’ within
themselves to possibly become the next Richard Branson! The book has the support from the Prime Minister Gordon Brown and Peter Jones from the Dragons’ Den. Why did you want to start your own business? “Being born and raised in a deprived area of East London motivated me to dig deep to look for entrepreneurial success. Those around me were not privileged, or given the chance to succeed in life, such as my family; that encouraged me to stand out, to try to be unique and to take a different path in life. I had a confidence within me that wanted me to break the barriers of my culture and to try something different from my family. This was the first step I took and I am proud of the risks I have taken.”
Technology at the age of 14 was the strong essence of success that it brings through the ideologies of entrepreneurship, leadership, teamwork and the links that are developed through networking.” “With the world being open with facilities and opportunities, I felt that it was all about exploiting my own talent and making good use of what the world has to offer me. With today’s world continually developing through the intensity of successful entrepreneurs, both young and old; putting myself in the entrepreneur’s equation has added dynamic flair because of the skills I possess and wanting to put my talent and abilities into action.”
BOOK OVERVIEW Although targeted at a younger audience, “The World at Your Feet” is a fantastic read for any age. Sabirul is clearly a very gifted seventeen year old and the information he provides is both practical and entertaining. The book is full of truly inspirational quotes and uplifting messages. Whatever your age, if you’d like to turn that business vision into a reality – get this book! It’s fuel for the fire… To order a copy of “The World at Your Feet” visit – www.theworldatyourfeet.com firstname.lastname@example.org 07951 929 241
WORDS – RUARI PHILLIPS
“The support I received from my family, friends and my school, taught me that life has a meaning. What inspired me to start my own website design business called Veyron
WORK EXPERIENCE – WHY BOTHER?
THE BUZZWORD ‘EMPLOYABILITY’ IS BEING TALKED ABOUT AROUND UNIVERSITIES MORE AND MORE. EVEN STUDENTS WHO PLAN TO AVOID THINKING ABOUT FINDING A JOB UNTIL AFTER THEIR FINAL EXAMS WILL HAVE HEARD IT! IT’S A PHRASE CURRENTLY ENJOYING INCREASING POPULARITY AMONGST EMPLOYERS AND CAREERS’ SERVICES. A period of work experience will enhance your employability skills. If you are able to articulate your achievements it shows employers what you might be able to do for them. Even students who plan to avoid thinking about finding a job until after their final exams will have heard it! It’s a phrase currently enjoying increasing popularity amongst employers and careers’ services. It's all about being able to 'sell' yourself - not something many people are comfortable with but, in a competitive world, you need to be able to stand out from the crowd. When embarking on any period of work experience it’s essential you keep the end goal - your future –
in mind. Time spent working during university holidays, in term-time, during a gap year or on placement, is an invaluable way of testing if a career is for you; of gaining much needed experience, and building a network of contacts who will help you as you progress. Research shows many work experience students return to the same company for employment after graduating, so that temporary spell could end up earning you a full-time job when you leave university.
TIPS ON HOW TO GET THE MOST OUT OF A WORK PLACEMENT Before you start
During the placement
After the placement
• Set some personal objectives ask yourself what you want to get out of it – what is it you want to learn - the company, the industry, or both?
• Don’t be afraid to ask questions and take notes when being briefed at the outset – better to ask outright and be clear than make mistakes later.
• Identify where you want to work – not all work experience placements are equal. Some employers have been running structured work experience placements for years, while others are new to the task and a few may still view work experience as a quick way to find cheap labour. In order to ensure you get as much out of your placement as you are prepared to give, look out for schemes accredited with the NCWE’s Quality Mark, a recognised standard awarded to companies with proven success in providing students successful work experience placements.
• Keep a note of challenges you have overcome each day and any problem solving it required – this demonstrates initiative and prioritising skills.
• Ask for a record of achievement or skills gained. Many employers are now offering work experience certificates to students at the end of their placements. These provide an overview of the progress you’ve made and achievements you’ve secured through the course of your work experience. The certificates will list the specific skills you’ve learnt during your placement, so keep it on hand when writing your CV and post-grad job applications.
• Find out the dress code – don’t be afraid to check in advance. You’ll be uncomfortable in a suit if everyone is casual and even more uncomfortable if it’s the other way around!
• Grab any chance to take on more responsibility and undertaking new tasks is a sure way of developing new talents. • Ask for feedback from your employer and the people you work with – there may be room for improvement, plus successes and achievements are what you need to put on your CV.
• Finally, don't forget to ask for a reference!
WORDS - HEATHER COLLIER
National Council for Work Experience
• Make suggestions – just because you’re a work experience student, it doesn’t mean you don’t have good ideas, and your colleagues will always appreciate seeing things from a new perspective.
IT’S ONE THING TO START YOUR OWN BUSINESS BUT IT’S A WHOLE DIFFERENT BALLGAME TO SHAKE UP AN INDUSTRY. JAMES MURRAY WELLS, 24, HAS DONE JUST THAT THROUGH HIS COMPANY WWW.GLASSESDIRECT.COM
“It’s not the economics that thrill me. It’s the creating things — being able to look over the shoulder of a computer programmer who’s designing your website… seeing things come together,” he tells me.
With a turnover of more than £2 million in 2006, that figure increased to over £4 million by the end of last. So…how did somebody at such a tender age, do so much, in such little time?
designing your website…seeing things come together,” he tells me.
I don’t intend to give up though, customers need this service."
With the original intention of “just getting a bit of pocket money”, James was utterly astonished when he returned from a week’s holiday in Tuscany to find the website had over a thousand hits. www.glassesdirect.com was receiving extraordinary attention and the money began to pour in.
“I’m not passionate about glasses,” he continues. “I’m passionate about providing a good service… whatever the product. There’s no feeling like it when somebody writes in to say how happy they are. I’ve received literally hundreds of emails from satisfied customers and hardly any complaints.”
“I put much of the success down to my love of creating,” James says with a broad smile. “I’ve never been the type to stand still. I like doing things, making things happen.” The Glasses Direct offices started life in converted barns in the Wiltshire village of Malmesbury in 2004. However, the rapid growth of the company meant that within three years it had a staff of thirty five and phones that never seem to stop ringing, making it an oasis of buzz and activity. To cope with the expansion the company recently moved its customer services and operations to a larger site in Swindon, while the headquarters moved up to London to an office one mile down the road from Marble Arch. James sits in a large, white-walled office surrounded by what looks like endless plaques, awards and framed articles.
They include the Startups.com entrepreneur of the year, the Livewire young entrepreneur of the year and Lloyds Bank enterprising Brit of the year.
good entrepreneur; he immediately thought outside the box. He began to question if a thin metal frame and two pieces of glass could really warrant such a high price.
“It’s a great feeling to think I’ve done so much,” he tells me. “I try not to dwell on it and stay focused. You can’t let it get to your head!”
"I made hundreds of phone calls to investigate the manufacturing price of glasses, but all I found was a huge wall of resistance. No one was prepared to tell me how much it cost," he explains.
The rapid growth of the company is evident from the recent £2 million investment with Albion, well known marketing company, to promote their brand and provide their advertising. Other recent changes within the organisation have seen David Magliano - the marketing brains behind Easyjet and the successful 2012 Olympic bid - appointed as a non-executive director.
"I finally found one man who, after a lot of work, eventually answered my questions. Amazingly I discovered it costs only £7 to make a pair of glasses. Opticians were making a profit of 2000%. Something had to be done."
Jamie’s climb to entrepreneurial idol hood has an inspirational story. Just as David took on Goliath, James took on the British optical industry...and won.
James set to work finding a manufacturer who would supply him and finally found one. After hiring a couple of IT experts through an ad on the university notice board, James set up an office in the playroom of his parents’ house.
It was in his final year at Bristol University when he went to buy reading glasses and returned home £150 lighter. As a student, this was a massive sum to pay and, like any
“That was the most exciting period. It’s not the economics that thrill me. It’s the creating things — being able to look over the shoulder of a computer programmer who’s
“If someone had told me three years ago that I would be running a company selling reading glasses I would not have believed them. I have no formal business training – I just saw a gap in the market and an opportunity to provide an essential service at a good price. I had been planning to take a post graduate diploma in Law but the surprise success of this business has meant my plans have altered drastically.” Along with the success came a lot of animosity from high street opticians. "They're not happy about it," he says. "But then I'm offering glasses for a fraction of the price they're charging so it's not surprising. They’ve tried to sue me but have been unsuccessful. I’ve even received threatening mail!
As he sits back in his chair, arms behind his head, James is obviously more than happy with his current situation. However, he doesn’t take any of his accomplishments for granted and realises he only got to where he is through one thing… hard work. “It’s a lot easier for kids my age to sit back and play their Playstation,” he declares. “But I never enjoyed doing any of that so I decided to work hard and achieve something. I suppose I took my life into my own hands and disciplined myself to do well. Nobody gets anything out if they don’t put anything in…I had to make sacrifices but it’s all worth it now!” The number of young entrepreneurs in the UK is currently at an all time high. James puts a lot of this down to the recent rise in schemes and trusts helping young people to fulfil their dreams. After winning so many awards, he felt it important to pass on his talents and knowledge to others. He works with the Government promoting young enterprise and acts as a judge for various competitions up and down the country. “We need more enterprise in this country,” he says. “The UK needs
to take a leaf out of America’s book. Over there they encourage young people to think differently and follow what they believe in. It’s a different story here. Kids are straight-jacketed through the education system with no attention paid to character and personal growth. It’s the oddballs who make good entrepreneurs. Think back to school and the ones who do well are usually the weird ones. Why? Because they think differently and that should be encouraged… not ignored.” James Murray Wells seems concerned with far more than just making money. Behind the quick-witted, straight to the point exterior he’s a genuinely nice guy who enjoys helping people. Whether it is through his business or his campaigns James obviously likes changing the world for the better. He also uses his new contacts to lobby those in power for the fair deal for entrepreneurs. Earlier this year, he met with John Hutton, the Enterprise Minster, to grill him on the damage that the new capital gains tax has had on entrepreneurs.
see my friends and I still watch TV. The only difference now is I’ve got a bit more money than I had before. Things are still the same. However much money I’ve got I’m always looking for a profit. That never changes!” The company has exceeded sales of 250,000 pairs of glasses to date and James is now working on new technology that allows customers to see what glasses actually look like on their face in 3D! "Things are really exciting at the moment,” James grins as he reaches across the desk to pick up a giant heap of mail. “I’m having the best time of my life right now and my advice is…follow your dreams.” Next up - America!
WORDS – RUARI PHILLIPS
“I’m just a normal bloke at the end of the day. I still go to the pub, I still
JAMES’ TOP FIVE BUSINESS TIPS 1.
Start small. So many invest too much too early. Watch it grow and use money sensibly. Only spend money on what’s absolutely necessary.
Just do it! Too many people talk about doing something but actually getting up and making it happen is a whole other story. Once the ball’s rolling, you’ll see everything come together. It’s that initial surge of energy which is the most difficult – but very worthwhile.
Put money back into the business, especially if you’re young. It’ll be worthwhile in the long-run. Have fun with money but your main priority should be expansion and growth.
Use the press. Get your name out there by ringing magazines, entering young-entrepreneur competitions and putting out publicity material. Bring your product to the people. Don’t wait for them to come to you…
Work hard. It’s simple. The harder you work, the more likely your business will be a success.
CHA CHING CHINA
THE CHINESE ARE FAMOUS FOR FIREWORKS, FOOD AND NOW FINANCE. THEY HAVE THE WORLD'S FASTEST GROWING ECONOMY, ABOUT NINE PERCENT A YEAR. ENVIRONMENTAL GROUPS RECENTLY ANNOUNCED CHINA IS BUILDING TWO POWER STATIONS A WEEK TO FUEL ITS EXPANSION.
The Australian Prime Minister, John Howard, was keen to point out that if his country stopped ALL CO2 emissions China would replace them in one year. If you like your stats big...China is your country! If you like your symbols of growth big then look no further than the Hangzhou Bay Bridge. Opening next year it will span 36 kilometres across the East China Sea. It will be the longest trans-oceanic bridge in the world - seven times longer than the Oresund Bridge between Denmark and Sweden (the pride of Europe) and long enough to cross the English Channel - imagine what that would do for UK/EURO trade - and you can imagine what it will do for the economy of China. The bridge will cut two hours off the journey time between the nearest port and the city of Shanghai, China's gleaming super business city, where investors can see the growth of the economy towering before their eyes. Shanghai is known as the "24 hour building site". The bridge is costing almost a billion pounds and 70 percent of that money is from private investors who seek profits in tolls and lower transport costs.
The problem with China is that it has a topsy-turvy economy. Subsidised power and cheap labour produce the symbols and the successes for the super rich while most of the population, the billions who live in the rural areas and work in traditional agriculture, carry on growing crops not share portfolios. That's not to say millions of people are not attracted to the cities hoping to benefit from the cash carnival. China needs 27 million new workers every year just for its economy to stand still. That's almost the entire UK workforce! I did warn you about the stats. A recent report on ITV News highlighted the infectious craze of stock market investment by China's new urban classes. We saw one hapless investor packing a case of his few remaining worldly goods about to hit the streets to try to sell his possessions like a junky in search of another hit.
Meanwhile we are all benefiting from China's growth. There's a saying that if America sneezes then Europe catches a cold; a reflection on the effect North America's economy has on ours. Well if China ever gets a fever weâ€™ll also get a temperature. Our economy has boomed thanks to British consumers having more. For now China seems to be immune to the Western World's increasing demand for these products. To them, it's water off a duck's back, and very lucrative water at that! China is growing at an extraordinary rate and it is, without a doubt, about to become the world's largest and most powerful economy.
WORDS â€“ ANGUS WALKER
It's a country of huge gains and huge divisions. The people are keen to get stuck in but I wonder what would happen if the labour force demanded more rights or if the power supply prices went up? Coal and oil won't last forever. That could send everything in the wrong direction and they do say what goes up must come down...
ITS ALL ABOUT YOU PART THREE
THE WORLD IS FULL OF YOUNG, AMBITIOUS PEOPLE. PEOPLE WHO DON’T SIT AROUND WAITING FOR THINGS TO HAPPEN – THEY ARE OUT THERE, MAKING THINGS HAPPEN. This section is dedicated to letting you know who they are…
Name: Age: Occupation: Location:
Bob Goodson 25 Student start-up adviser San Francisco
Some like to see me as a leading contributor to the recent rise in entrepreneurialism at UK universities. Having set up profitable design and publishing companies as an undergraduate, I began a sabbatical from my masters degree in April 2004 and I was headhunted by PayPal cofounder Max Levchin to help start consumer technology companies at his San Francisco incubator, Midtown Doornail. I also advise a number of student start-ups and welcome any contact. To contact Bob email email@example.com
Name: Phil Gibbs Age: 25 Occupation: Owner of electrical recycling firm Location: Beford I own a company called Pure Planet Recycling Limited along with my business partner; Paul Turbutt. We are two environmentally conscious entrepreneurs, with 15 years combined experience in waste management. Our service provides support on all matters relating to the recycling of electrical equipment. The Waste Electrical and Electronic Equipment, or WEEE, European directive is being launched to protect the environment by reducing the amount of electrical equipment dumped in skips and going to landfill. We aim to make compliance of the WEEE directive as simple as possible for businesses.
Name: Age: Occupation: Location:
Kulveer Taggar 23 CEO of boso.com San Francisco
I'm a founding member of an organisation called Oxford Entrepreneurs, I went on to establish the society as one the most enterprising in the country during my tenure as President. Whilst still an undergraduate, I successfully invested in property in three continents, and cofounded Boso, the biggest online student marketplace in the UK. Having raised funding from the venture firm Y Combinator, I'm now currently based out in San Francisco, where I work in Evan Williams' offices. I have a blog at www.kulveer.co.uk and I also write for the BBC. To contact Kulveer visit www.boso.com
Name: Claire Lander Occupation: CEO of My Juice UK Ltd. Location: Suffolk MyJuice is the first ever dedicated Juice and Smoothie bar in Suffolk, offering people the healthy fast food/health club on the High street alternative. We left Ipswich in September 2003 to start our world trip adventure. Whereas most people bring back gifts and a great tan – we brought back our own juice bar! To contact Claire visit – www.myjuiceuk.com
Name: Chris Spavin Age: 24 Occupation: Currently organising a Global Entrepreneurship week Location: London Chris moved to the UK from Canada in June 2006 after receiving an Honours Bachelor of Arts from the University of Toronto, where he read English Literature and Philosophy. Throughout his studies, Chris held various administrative and marketing positions in network television, retail banking, online marketing and estate sales. In 2004-2006, he started his own online radio station (which he later sold) and became a freelance marketing and design consultant to top-flight estate agents in central Toronto. He is currently organising a Global Entrepreneurship week.
Name: Brett White Age: 23 Occupation: Co-founder of Peekaboo Design Location: Isle of Wight My design agency was set up in 2005. We take great pride in being able to offer the same service and quality of work you'd expect from any of the big design agencies - but without the inflated invoice. The whole team is passionate about web & graphic design. After many years of studying at the Isle of Wight College and self teaching I setup Peekaboo with my friend Howard. It's a great partnership. Our prices are very competitive and we always give nothing but real quality. To contact Brett email www.peekaboodesign.co.uk
To contact Chris email firstname.lastname@example.org
To contact Phil visit www.pureplanetrecycling.co.uk
TEN STEPS TO THE PERFECT JOB APPLICATION
IT’S COMMON KNOWLEDGE THAT TIME, IN BUSINESS, EQUALS MONEY. RIGHT? GOOD. SO, THAT LEAVES YOU WITH NO EXCUSES FOR WASTING EMPLOYERS’ TIME, BY SENDING THEM HALF-HEARTED CV’S AND JOB APPLICATIONS.
1. Know what you’re getting yourself in for
4. Format is at the heart of information
8. Check, recheck, recheck, send!
It’s a recruiter’s torment to find themselves looking at an application from someone who clearly doesn’t even know what the position they‘ve applied for entails. You must always be sure you’ve thoroughly researched the position you are applying for. This might mean talking to friends or acquaintances who are doing a similar job, searching the net for job specs or even calling a recruiter direct to find out exactly what sort of person they are looking for. Going into anything blindfolded is asking for trouble.
Using a slick, neat and professional format for your CV and cover letter will enhance what is actually written. Make sure you present your CV with thoughtful use of italics, capitals and fonts; get your money’s worth out of Word. Imagine reading a book with no chapters. Enough said!
By this stage you’ll no doubt be ready for a drink or two, however, control the urge, and instead make sure there are no spelling mistakes, the grammar is correct and everything you have written looks good and reads well. Imagine having all your work binned because the person reading the application thinks you struggle with the basics of language, and hence are good for, well...nothing. Salt and wounds spring to mind.
2. Identify your skills When it comes to doing it right, Peter Belk of, recruitment agency, www.graduate-fasttrack.com knows all too well how it should be done. Every day he trawls through hundreds of CVs looking for the perfect applicant and he’s here to tell you how it SHOULD be done...
You may have a First from university, or you may have years and years of experience, but this won’t matter if you can’t demonstrate which parts of what you’ve learnt are applicable to the job you’re applying for. For instance, if you are applying for a project management position in marketing, mention group projects you’ve carried out during your education, and highlight the fact that you have bolstered your interpersonal and time management skills. Be relevant; think laterally on this one...
3. Order! The importance of making a CV quickly digestible cannot be overstated. Make sure you put whatever is most relevant to the job in hand at the beginning. This might be education, experience, extra-curricular achievement or even volunteer work. If you can make sure a recruiter is instantly engaged in what you’ve got to say, they are much more likely to read on, and half the battle is won.
5. Be consistent Remember the last time you heard someone tell a story when they were clearly unsure of how it was meant to finish? Did you cringe? CV’s are exactly the same in that everything you include MUST add up. If a potential employer sees you have tried to cover something up by changing a date here, or leaving out an exam result there, they’ll smell a rat. There’s a fine line between dishonesty and tailoring the truth.
6. Less is more Put yourself in the recruiter’s shoes: it’s half past ten in the evening, you haven’t seen your wife for 3 days and you’ve still got thirty CVs to look at. The last thing you want to do is digest a document weighing as much as the Sunday Telegraph and detailing every bit of work experience someone’s done since their paper round back in ’89. Keep it short and concise – 2 sides of A4 should be ample.
7. The cover letter Every application you make should be backed up by a one-page letter, addressed to the appropriate individual (it might be worth calling the company in question to find out their name). This letter should demonstrate your suitability for the vacancy, and highlight the most important areas of your CV. Again it is important to target the employer, and to really sell the key points of your CV. Remember, do not waffle.
9. Chase it up One of the most unused tactics in the battle for employment is persistence. To really make an impression on a potential employer, make sure you get in touch with them before they have a chance to get in touch with you, whether by phone or email. Not only are you demonstrating that you are really serious about the job, but you are also going to leave a lasting impression on their memory. This is invaluable in gaining an upper hand over your competitors.
10. Prepare for battle! Assuming that you’ve managed to catch the eye of a potential employer, it is likely that you’ll be on the receiving end of a telephone interview, or better still a face to face. Make sure you are prepared for the sorts of questions they will ask. Usually these will include questions about the company itself, your skills, your experience and your ambitions. Make sure you have answers ready. If you don’t know the answer, remember that it’s not what you say, but how you say it – confidence is key!
WORDS – PETER BELK
A DEGREE IS NOT ENOUGH
There is something every student needs to know. Academic achievement is not the great divider it once was. While leaving university with a good degree is a pre-requisite in today’s graduate employment market, a degree alone may not be enough to secure that dream graduate job. The brutal truth…. Of the 300,000plus graduates in the UK every year, 59% achieve a 2.1 or better - that’s 180,000 graduates with top degree classifications, all competing for a small handful of top graduate jobs. Indeed, with widening participation in higher education and increased ‘internationalism’ among graduate applicants this figure is likely to increase heavily year-on-year. As a result, companies are no longer able to screen applicants – and trim numbers down to manageable levels – based on degree classifications alone. How to stand out… But just how, then, do employers distinguish between applicants with the same degree classification? Expert graduate employment consultant – and Director of student society Bright Futures – Simon Reichwald has some suggestions; “Increasingly, employers want to see evidence of what candidates have achieved outside of the education system. This means extra-curricular activities such as volunteering, travel and Duke of Edinburgh awards, as well as other achievements such as CRAC Insight to Management courses, winning the Global Management Challenge, or even Grade 5 on the Flute have all assumed increased importance for undergraduates. Employers are
focussing less on a degree, and more on what you have done.” However, while the list of possible ‘differentiators’ may be lengthy, one of the primary ways to elevate yourself above the competition (and grab the attention of employers) remains the completion of a relevant internship or work-experience placement be that for a few weeks or a full year. Work experience can often prove invaluable for students applying for graduate jobs, to the extent that many business and management degree courses require students to complete a compulsory placement prior to graduation. Research by the University of Manchester Careers Service shows that an average of 70% of summer or year-long work experience placements led to a graduate job offer. How to choose the right career… However, much like degree programs, some placement opportunities will be more rewarding than the others - the challenge for students is to find a placement that is both appropriate to their chosen profession and that will sufficiently develop their skills. Bright Futures may provide the answer. Formerly known as the Student Industrial Society, founded in 1977, Bright Futures is a student society operating in 27 Universities across the UK, that allows proactive students to engage with the UK’s most dynamic graduate recruiters. Student members can gain first-hand access to some of the most valuable and prestigious internship and year long placement opportunities in the country, (as well as graduate careers) within large multinational organisations including Deloitte, Reckitt Benckiser, Tesco, Cap Gemini and RBS.
UNLTD – THE FOUNDATION FOR SOCIAL ENTREPRENEURS
Historically, the best opportunities have only been open to top-tier student talent and may not even be widely available. By becoming a Bright Futures member, students can ensure they stay ahead of the competition and give themselves the best chance of a decent entry point into the highly competitive graduate marketplace. Indeed, becoming a Bright Futures member may also help students differentiate themselves in other ways; society membership is, in itself, an indicator that a student is proactive, and is keen to develop their employability. This, coupled with the opportunity to gain knowledge, develop skills and interact directly with potential employers, prior to leaving university, makes Bright Futures the perfect training ground for ambitious students. To join or even start a Society at your University go to www.bright-futures.org.uk or call us 0870 900 6900
Social entrepreneurs have never been so widely talked about as they are today. Where as in normal business, profit is pretty much all that matters, social entrepreneurs see more than just capital as their priority. Yes, running a successful operation is important – but equally so, to them, is having a positive impact on society. They recognise a social problem and use entrepreneurship principles to organise, create, and manage a venture to make social change. UnLtd is Britain’s top foundation for Social Entrepreneurs. A charitable organisation, it was founded on the belief that the energies of individual social entrepreneurs can be a powerful source of renewal in society. The organisation’s aim is to support social entrepreneurs in the UK to set up and run successful projects; it does this by providing cash grants and a complete package of support and networking opportunities, tailored to the individual's specific needs. They have given a kick-start to hundreds of ambitious and socially-minded people in the UK. In fact, $uccess Mag got its legs from an offshoot of UnLtd known as The Big Boost. Other examples of successful social projects who UnLtd have funded include The Calma Project, Sense Magazine and Green Knickers to name just a few. Visit the website and you can see for yourself what a massive impact UnLtd are having on the UK. Not only that, those who see their ideas through get a huge level of satisfaction from what they do. Not only are they making money but they are also putting something valuable back into their community. Through its network of six offices around the UK, UnLtd is supporting hundreds of exceptional individuals each year, from a wide variety of backgrounds, ethnicities and ages.
It’s people who are important to UnLtd; which is why it only offers support to individuals and does not support organisations.
GREEN KNICKERS PROMOTION www.greenknickers.org
The projects that these people set up are varied, but they all have one thing in common: they are changing things for the better. Unltd realises there are thousands of people who have the ideas and the vision to make a real difference. It also realises many need encouragement and support, contact with others and access to training to help them grow and therefore give their projects the best chance of success. There are two levels of award Unltd offers: Level 1: Awards of between £500 and £5,000 Level 2: Awards of between £10,000 and £20,000 Level 1 Awards are designed to help make new ideas become real projects. On average UnLtd gives out 1,000 Level 1 Awards each year across the UK. These are aimed at individuals, or informal groups of people, who have an idea and want help getting it off the ground. The money is to help with the running costs of the project.
As someone who has seen (first hand) the effect UnLtd can have; it’s fantastic to witness the organisation bring so much positive change. Entrepreneurs can do amazing things; especially when their skills are aimed towards good causes – the sky literally is the limit! UnLtd's social entrepreneurs are real visionaries - people who want to change the world. That doesn't mean they necessarily develop complex, global solutions to large-scale issues; often, social entrepreneurs simply take problems in their own communities and make a commitment to tackle them. This may lead to something bigger, or it may not; what makes true social entrepreneurs is that they have the will to make a difference, the vision to know how to go about it, and have the determination to make that vision happen. Do you have an idea? Do you have what it takes? Visit www.unltd.org.uk to fill out an application…
WORDS – RUARI PHILLIPS
Level 2 Awards support people whose ideas are already developed to pay for the living expenses of Award Winners to help them devote more time to their projects. These Awards are given out once in the Spring and once in the Autumn.
HOW TO BLAG
YOUNG PEOPLE AND STUDENTS ARE SAID TO BE SOME OF THE MOST RESOURCEFUL AND ENERGETIC PEOPLE AROUND. LIVING ON GRANTS, HANDOUTS AND LOW WAGES FROM PART TIME WORK MEANS WE NEED TO FIND INGENIOUS WAYS OF GETTING SOMETHING FOR NOTHING. BUT THERE’S MORE TO IT THAN YOU MIGHT THINK. It takes every ounce of resourcefulness to succeed. To help get you started, self-professed ‘blagger’ Mike Essex (who has received 125 free products including a pizza maker, DVDs, toys, puma trainers and a kitchen sink) has offered to talk us through how he does it.
1. Remove your preconceptions There’s no such thing as a free lunch. It’s true, I’ve checked. You may get a free buffet every now and then but not without some sort of annoying person trying to sell you something. Similarly there’s no such thing as a free product, as no company in their right mind would want to give away something without a possible benefit.
2. Create your unique offer (U.O.) What this means for the prospective blagger is you need to find something that you can offer a company in order for them to give you something back free. In my case I offer to review any product that I’m sent for free at www.blagman.co.uk, but you don’t need a blog to blag, just an idea. If you, for example, love to eat pizza then why not contact a company that sells pizza? They’d probably love it if you gave them some product feedback. If you have more than 100 friends on Facebook why not offer to email everyone some product info? Or, if you live in a student flat, why not offer to put up a product poster in your window? Anything’s possible and the more original your idea the more likely you are to succeed.
3. Do your research To help you come up with a U.O. research your target company, try to understand what makes them tick and the markets they operate in. Mostly a quick browse of a company’s website and some news articles will be more than enough, but remember the more you understand a company the easier it’ll be to blag.
4. Create your persona
7. The U.O. is King!
Once you know the company’s target market, then you must embrace it! If you’re trying to get something for free from a well-established, traditional company you’ll need to talk in a concise manner. On the flip side if you’re trying to get a skateboard for free then you’ll need to embrace a more casual persona.
Don’t forget to stress your U.O. or you’ll have the phone slammed down/email binned on you in a second!
5. Choose your medium Phone and email make this persona creation even easier as you won’t even need to go to the trouble of dressing up to get free products. However, if phoning you’ll need to cram in a lot of information in order for the person at the other end of the line to understand your U.O. so it’s best to start slowly and to ask questions about the product before you even mention your U.O. Email is far easier as you can lay all of your cards on the table in one go (“I can offer you X, Y, Z if you give me A,B,C") but you’ll need to convince someone you’re not a trouble maker in the first line or that plan is over. The more traditional method of going up to people in shops is all but dead. Unless the managing director, or marketing director, happens to be in that day, and agrees to meet you, you’ve got no chance so that’s not really an option.
6. Initiate Contact All set? Okay go for it. If you are using the phone jot down on a piece of paper everything you want to get across, and any interesting facts about the company. Brace yourself and dial. If you are emailing – check your spelling and facts.
8. The “freebie” stigma: Be warned as soon as the word ‘freebie’ is mentioned most companies will shy away so be sure to stress, as part of your U.O., that you can’t fully use the product unless it’s yours to keep. After all you can’t give them any benefits if they wrestle the product away from you!
9. Follow-up Don’t be surprised if you think you’ve blagged a product, only to find two weeks later that your mailbox is still empty. Second emails/phone calls are often required to remind people you exist and that that you can still offer them some fabulous benefits if you can get your hands on a product sample.
10. Report back Once you’ve got the product, be sure to act on your promised offer, let the company know your views and tell them about any benefits they have gained by taking you up on your U.O. This opens the door for future collaborations with the company and also ensures you don’t give blaggers like me a bad name!
WORDS – MIKE ESSEX
No bird soars too high if he soars with his own wings WILLIAM BLAKE
Somehow I can't believe that there are any heights that can't be scaled by a man who knows the secrets of making dreams come true. This special secret, it seems to me, can be summarized in four C s. They are curiosity, confidence, courage, and constancy WALT DISNEY
Your most unhappy customers are your greatest source of learning BILL GATES
You can’t build a reputation on what you’re going to do HENRY FORD
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great MARK TWAIN
A business has to be involving, it has to be fun, and it has to exercise your creative instincts
Ridiculous yachts and private planes and big limousines won’t make people enjoy life more, and it sends out terrible messages to the people who work for them. It would be so much better if that money was spent in Africa – and it’s about getting a balance RICHARD BRANSON
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability I like thinking big. If you're going to be thinking anything, you might as well think big DONALD TRUMP
No matter how good you get you can always get better and that's the exciting part TIGER WOODS
The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow RUPERT MURDOCH