Advantage2011: You, yes YOU, could be the next Richard Branson
So you’ve got no qualifications, no work experience and no-one to give you financial support? No worries, you can still make millions as an entrepreneur…as long as you’ve got bags of self-belief.
Some 500 delegates attending this year’s Advantage Conference in Madrid were treated on the opening day to an inspiring speech by MOBO Awards founder Kanye King MBE who became one of the UK’s most successful entrepreneur’s despite being kicked out of university.
King told how she overcame an impoverished and troubled childhood to create the world’s biggest urban music awards while raising a son single-handed. "I just had a passion and a desire to make a difference," she told the audience.
"There is no blueprint for success, you just need the right attitude. If you want it badly, you can achieve success." She said she was a great believer in actively networking and said she had drawn great support from organisations such as The London Entrepreneur Exchange and from online forums.
Also contributing to the session, called The DNA of an Entrepreneur, Scottish travel agent Bill Munro, founder of Barrhead Travel, revealed he too was a little short on qualifications when he left school. A long illness and a severe head injury meant he was forced to miss lessons as a youngster and by the time he joined secondary school he’d "pretty much lost interest" in education.
The no-nonsense Glaswegian went on to create Scotland’s largest independent travel agency with an annual turnover of £100m. And the secret to his success? "Common sense, honesty and integrity," he said.
Munro told the audience it would be very much harder to start a small business nowadays, recommending budding entrepreneurs consider a franchise instead. Barrhead Travel itself is busy rolling its franchise model out across the UK. "This allows knowledgeable agents to open a business…without the form filling and all the red tape," he said.
However, Paul Evans, who founded The Lowcost Travel Group in his bedroom seven years ago, said it was far from impossible to start a business in a recession. "There are banks who will lend you money, if you are good at what you are doing and if you have a track record. It’s hard, but you can do it."
Now is also a good time to buy businesses, said Evans. Snap them up while the price is low and wait for the good times to come back, was his message.
And just in case you’re thinking a poor background and lack of education are almost a prerequisite to a successful career as an entrepreneur, Evans revealed he’s an Old Etonian. Just for the record.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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