MADE Festival 2014 Programme

MADE The Entrepreneur Festival: Sheffield 2014

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The roots of success

Food revolutionary Levi Roots on his rise to fame

Caan do attitude

Internet royalty

All in the mind

Wise words from TV Dragon James Caan

Whizkid’s journey from Topman to main man

Paul McKenna believes anyone can succeed

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MADE The Entrepreneur Festival: Sheffield

MADE to inspire This year’s ‘Glastonbury for Business’ boasts a star-studded line up of entrepreneurs, says Brendan Moffett, Director of Marketing Sheffield entrepreneurs in the UK and has been honored by HM the Queen A very warm welcome to Sheffield, one of the UK’s fastest with an OBE for her contribution to business. Michelle has built growing cities and recently crowned by Trip Advisor as the a hugely successful career on an incredibly simple concept: helping ‘Best Value City Break in the UK’. women look and feel their very best.

If this is your first time in the city, I encourage you to sample the Another new face this year is the nation’s favourite Dragon’s Den local hospitality where you will find a fantastic range of bars and contestant Levi Roots. The phenomenal rise of restaurants spread across the city centre, many run by this Rastafarian musician is one of the most heartinspiring entrepreneurs. warming business success stories in the UK in recent It’s hard to believe that it’s now five years since we years. Levi made the big time from producing his created MADE. Reggae Reggae Sauce, a delightful mix of barbecue The Festival emerged as a response to the challenge and jerk sauce that won an exclusive contract in laid down by UK Government to create a new 2007 and was soon stocked in Sainsbury’s stores generation of entrepreneurs to future-proof the UK across Britain – Levi’s sauce is the chain’s fastest ever economy. Sheffield is the perfect host city, strong in selling product. entrepreneurial heritage but with a very supportive Another exciting new face this year is Jamal eco-system for growing business.

Edwards, who at the age of 15 founded SB.TV We wanted to adopt a more dynamic approach – which he still runs as CEO. SB.TV started as a UK we didn’t want this to be just another conference, online urban music channel but quickly grew into we wanted to create a real buzz where young an innovative and exciting music and lifestyle media entrepreneurs could meet mentors, where scale platform with global reach. ups could meet funders and where policy makers Brendan Moffett, Director of Wayne Hemingway with his wife Gerardine began could immerse themselves in the real challenges Marketing Sheffield with market stalls on Camden and Kensington facing entrepreneurs.

Markets in the early 80s and subsequently built Red or Dead into MADE quickly became known as ‘the Glastonbury for Business’ – a label that received global acclaim. After 21 consecutive seasons an accolade we are very proud of. MADE 2014 is set to build on on the catwalk at London Fashion Week, Wayne and Gerardine this and promises to be the best yet. sold Red or Dead in a multi-million pound cash sale.

Our new partners, BE Group, have been working closely with Last but not least we welcome back a regular contributor to us to create a compelling line up of big name entrepreneurs with MADE since inception in 2010, Doug Richard. Doug founded some exciting new faces and returning favourites.

School for Startups to enable new and aspiring entrepreneurs to Day One of MADE 2014 starts with an innovative new event turn their big ideas into successful enterprises. Doug has taught, featuring Paul McKenna. Paul has made a unique study of the mentored and provided training to over 25,000 businesses, mindset of people rich, not only in money, but also in happiness encouraging a more entrepreneurial mind-set to improve bottom and quality of life – the real entrepreneurs. The study shows that line results. In 2006, Doug received an honorary Queen’s Award success isn’t just about being more intelligent, working harder or for Enterprise Promotion for his work championing being luckier – it’s about having the right mindset to think and entrepreneurship from grass roots level and in 2010 he received act differently. The opening event will help you to gain this the Enterprise Educator of the year award from the National winning mindset.

Council on Graduate Employment for his work through School Day Two will see a MADE debut for the highly inspirational for Startups with UK Universities.

Michelle Mone OBE. Co-owner of Ultimo Brands International Whatever stage your business is at, I am sure you will find and creator of Ultimo, one of the UK’s leading designer inspiration at MADE. Enjoy your festival! lingerie brands, Michelle is listed as one of the top three female

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MADE The Entrepreneur Festival: Sheffield

CONTENTS 08 BORN OUT OF NECESSITY: How the MADE festival grew – like a small business – from an idea to a reality

40 SUCCESS IS NO ACCIDENT: Motivational guru and TV star Paul McKenna on making your own luck

10 A WORD FROM WHITEHALL: Deputy Prime Minister Nick Clegg on overcoming the fear of failure – and more

42 CALLING CREATIVES: Creativity and business skills go hand-in-hand, says former TV Dragon Doug Richard

14 THE ROOTS OF MY SUCCESS: Food revolutionary Levi Roots on his rise to fame, future plans, fountains and mermaids!

46 ENGINEERING ‘FAST’ FOOD: Making food products can be as exciting as making fighter jets, argues an academic

18 VIRTUAL CURRENCY – A BIT RISKY?: Are new currency systems like Bitcoin the key to business growth, or just a passing fad?

48 FROM TOPMAN TO MAIN MAN: The meteoric rise of Jamal Edwards from shop boy to multi-millionaire internet entrepreneur 52 STEPPING INTO THE UNKNOWN: A crack team of export champions share their tips for achieving success in foreign lands

22 GETTING YOUR STORY STRAIGHT: The back story of how your business came about can be a powerful marketing tool

56 IT STARTED IN GRAN’S KITCHEN: Fraser Doherty turned his grandmother’s modest jam recipe into a world beater

24 FRESH THINKING: How Sheffield University Management School helps budding entrepreneurs 28 A STEELY RESOLVE: Graham Honeyman’s sheer determination changed the fortunes of Sheffield Forgemasters

60 INNOVATION NATION: Data is the new gold – and understanding how to exploit it can help a business thrive

32 CAAN DO ATTITUDE: Former Dragon’s Den star James Caan offers advice to those thinking about going it alone

62 A CITY WORTH EXPLORING: Our guide to all that Sheffield has to offer for MADE delegates

36 THE ONES TO WATCH: Our Emerging Entrepreneurs awards shortlist

64 AUNTIE’S GLOBAL AMBITIONS: How the Beeb approaches overseas markets

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room501 Publishing Ltd is part of BE Group, the UK’s market leading business improvement specialists. www.be-group.co.uk

All contents copyright © 2014 room501 Ltd. All rights reserved. While every effort is made to ensure accuracy, no responsibility can be accepted for inaccuracies, howsoever caused. No liability can be accepted for illustrations, photographs, artwork or advertising materials while in transmission or with the publisher or their agents. All information is correct at time of going to print, September 2014.

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A brighter partner for your business Expert services High-tech facilities and equipment Staff development and talent recruitment

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MADE The Entrepreneur Festival: Sheffield

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ENTREPRENEUR

The team of choice for bright ideas We provide a cutting edge commercial service for our clients, representing them in a full range of their business interests. We undertake quality legal work for a diverse range of clients and sectors underpinned by the latest technology, providing our clients with value through efficiency.

We offer a full commercial service out of our Birmingham, Leeds, London, Manchester and Sheffield offices.

bit.ly/1g4O30m www.irwinmitchell.com/Entrepreneur A site dedicated to providing legal support to investors, entrepreneurs and managers of fast growing companies.

Irwin Mitchell LLP is a limited liability partnership registered in England & Wales, with number OC343897, and is authorised and regulated by the Solicitors Regulation Authority.

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

Born out of necessity Just like the entrepreneurs it features, the event founders set out to exploit a gap in the market Every successful entrepreneur’s journey starts with an idea which solves a problem or fills an unmet need.

Then, as customers engage, momentum builds and early trepidation gives way to confidence, development and growth.

As one of the founders of MADE, I’ve watched our creation follow a similar path since it was conceived.

And now, as you join us for our fourth gathering, I’m delighted to say that our emergence as a truly world class event for entrepreneurs is complete – as you’ll no doubt discover over the next few days.

Back in 2010, our problem-solving idea was to fill what we saw as a gaping hole for an inspiring and insightful event for budding and established entrepreneurs.

While virtually every other private sector quarter had its landmark events for the sharing of ideas and advice, entrepreneurs were being underserved at a time when the economy needed start-ups more than ever.

Amid widespread recessionary cutbacks, for lots of people at the time their only chance of finding work was to start their own business.

But there seemed to be something missing from the national agenda to inspire and advise them as they started out on their own.

So we endeavoured to build a platform to stimulate new opportunities and provide business leaders with the impetus to achieve further success.

At the same time we wanted to put Sheffield on the map as an entrepreneurial place in which to start and grow successful businesses.

Recent decades have charted the transformation of a city region reliant on declining heavy industries into one with a vibrant, mixed economy.

And entrepreneurs have played a central role in bringing about that change, with Sheffield’s start-up rate continuing to rise.

So what better place to base the country’s first and foremost national entrepreneurs’ conference?

Thanks to support from business and academia and a willing cast of entrepreneurial stars, MADE is now firmly established on the national events calendar and this year’s line-up is bigger and better than ever.

I wish you a fruitful time here in Sheffield and I hope you find something which helps you along on your own entrepreneurial journey.

PAUL FIRTH IS REGIONAL MANAGING PARTNER OF IRWIN MITCHELL AND CHAIRMAN OF CREATIVE SHEFFIELD

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We are back in business

Growth is now well and truly underway, insists Edward Highfield, director, Creative Sheffield Three quarters of the way into 2014 and it’s clear the economy has turned a corner. In Sheffield, inward investment enquiries are increasing and we have seen notable successes, securing hundreds of new jobs. Confidence is growing with businesses large and small making investments across a range of sectors.

The Sheffield City Region Regional Growth Fund programme gives an indication of the scale of recent activity. To date in 2014, £26.5m of RGF investment has leveraged £150m of private sector investment, contracted to create over 2,000 jobs. A further £40m of private sector investment is expected by the end of the year securing a further 600 jobs. We are no longer managing the impacts of recession or watching for green shoots; Sheffield is fully back to business. The City Region have just secured one of England’s most ambitious ‘Growth Deals’ with Government. That includes infrastructure investment in the city centre and continued devolution of responsibility for skills and business support to the local level.

In the lead up to the General Election, cities must be ambitious. We must deliver our ambitions for reshaping the city centre retail and cultural offer, fight for a city centre not a parkway HS2 station and secure commitment to the infrastructure investment that will allow Leeds, Manchester and Sheffield to function as a single labour market and northern powerhouse of the UK. We must take further control of the tools we need to allow the private sector to define the support and skills they need and capitalise on the University of Sheffield’s spectacular Factory 2050 investment and industrial capabilities to drive investment in our Enterprise Zone.

MADE The Entrepreneur Festival: Sheffield

A word from Whitehall Deputy Prime Minister Nick Clegg talks to Andrew Mernin about entrepreneurship, economics and not fearing failure in business

AS MP FOR SHEFFIELD HALLAM YOU’VE SEEN MADE: THE ENTREPRENEURS’ FESTIVAL’S DEVELOPMENT SINCE ITS INCEPTION. HOW IMPORTANT IS THE EVENT FOR THE CITY AND THE WIDER ECONOMY?

ENTREPRENEURS OFTEN TALK ABOUT RED TAPE HOLDING THEM BACK. ARE THERE REASONS FOR OPTIMISM ON THAT FRONT AND ARE THINGS CHANGING? The government made a commitment to remove one piece of red tape for every new piece of red tape that’s introduced. But then to go further than that, we have now pledged to remove two pieces of red tape for every new piece. That shows a seriousness to deal with unnecessary red tape, which has eluded previous governments.

MADE has become integral to the exciting reinvention of the Sheffield economy because for a long time the city was either associated in the public imagination with industries of the past or with over-reliance on public sector employment. And now we’re seeing this transformation of the Sheffield economy as we see successful new investments coming into the city, the world-beating advanced manufacturing research centre established nearby, and we see a growth in employment. There’s now been a 22% decrease in the number of people on jobseekers allowance. We have the highest proportion of young people on apprenticeships of all England’s large cities. We have the lowest proportion of young people who are not in education employment or training. And I think integral to that is encouraging an entrepreneurial spirit where people really have a go at setting up their own companies.

DURING THE RECESSION MANY NEW ENTREPRENEURS EMERGED OUT OF DOLE QUEUES AND REDUNDANCY. NOW, AS CONDITIONS IMPROVE, IS THERE A NEED TO ENCOURAGE MORE PEOPLE OUT OF STABLE JOBS TO CREATE THE NEW BUSINESSES THE UK ECONOMY NEEDS FOR GROWTH? I think success breeds success. The examples of people who have successfully taken the leap of setting up their own company and earning a living from doing so will encourage other people.Yes, at times of economic difficulty, people sometimes do take that leap in a way that they don’t feel they need to when times are better. But I think actually the experience of those people that have taken the plunge will continue to encourage people to follow their example through good times and bad.

THE UK RECOVERY CONTINUES AT PACE. DO YOU THINK CONDITIONS ARE NOW RIPE FOR SETTING UP A BUSINESS? It’s exciting that more new businesses are being set up now than ever before and we’ve made a huge effort as a government to make sure the red tape is stripped away. If you think back to what it was like in May 2010, the British economy was teetering on the edge of a precipice. Now we’re the fastest growing economy in the G8. There are still threats and fragilities in the global economy, and there is still some way to go until the recovery is fully felt by everybody. But we’re in much better shape than anyone dared to predict a few years ago.

IN AMERICA, ENTREPRENEURS ARE ENCOURAGED NOT TO BE AFRAID TO FAIL IN BUSINESS. BUT IN THE UK FAILURE STILL HAS STIGMA ATTACHED TO IT. DOES GOVERNMENT HAVE A ROLE IN CHANGING THAT MIND-SET IN BRITAIN? Yes we do have a role in that. We need to be really explicit that having a go, not succeeding, but trying again is absolutely >>

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

central to entrepreneurial spirit. If everybody had to succeed first time then some of the greatest inventions, household brands and fortunes would never have happened in the first place.

SECURING FINANCE REMAINS TOUGH FOR MANY ENTREPRENEURS. WILL CHANCELLOR GEORGE OSBORNE’S RECENTLY ANNOUNCED PLAN TO ENFORCE BANKS TO REFER BUSINESS PEOPLE TO ALTERNATIVE SOURCES OF FINANCE IF THEY ARE DECLINED A LOAN, HAVE A GENUINE IMPACT ON BOOSTING FUNDING STREAMS TO ENTREPRENEURS? Competition is good because it improves the goods and services available to consumers and it keeps people constantly striving to do better. But competition needs to be done on as much of a level playing field as possible. I think there’s clearly been a real problem in the reluctance of the banks to lend on the scale that we need to SMEs. That’s why we took the unprecedented step of not only introducing those measures on referrals, and on forcing banks to be much more open, but also to publish an unprecedented amount of information. We’ve also seen the establishment of the British Business Bank in Sheffield, which is already overseeing a significant amount of lending to that part of the market which isn’t being well served by the banking system.

TRADITIONALLY PUBLICLY-BACKED FUNDING SCHEMES HAVE BEEN LINKED TO JOB CREATION. DO YOU THINK WE NEED MORE BACKING FOR INNOVATIVE FIRMS THAT MIGHT NOT NECESSARILY CREATE A SIGNIFICANT NUMBER OF NEW JOBS BUT DELIVER VALUABLE PRODUCTS AND SERVICES?

THE GOVERNMENT HAS SPOKEN IN RECENT MONTHS ABOUT THE NEED TO CREATE A ‘NORTHERN POWERHOUSE’ WHICH LINKS NORTHERN CITIES TOGETHER TO CREATE A GLOBALLY COMPETITIVE HUB OF BUSINESS AND INVESTMENT. WHERE DO ENTREPRENEURS AT MADE FIT INTO THAT VISION?

I don’t think the two are mutually exclusive. There is a role for funds like the Regional Growth Fund which was introduced specifically to create new private sector jobs in parts of the country where there’s been traditionally an overreliance on public sector finance. But there is also scope for taking a risk, taking capital, which is aimed principally at innovation. There are a number of government funds and private funds that do just that. I don’t think it’s one or the other; we need to push forward on both fronts.

But at a time when we are trying to rebalance the economy we also need to make sure there is a thriving, job-rich private sector economy.

I encourage anybody at MADE to share their thoughts about how we can create a dynamic centre of economic activity in the North of England by submitting ideas to my Northern Futures initiative.

There’s been quite a lot of emphasis on the cities of the North [and] their transport links – and they are absolutely essential. But we’ve also got to encourage entrepreneurs, innovators, people with bright ideas that they are going to succeed just as much in Sheffield as they are in Cambridge, or in Manchester as they would in Brighton. I think we can do that by using brilliant showcase events like MADE, not only to promote the virtues of entrepreneurialism but also to burnish the credentials of being an entrepreneur in the North. In many respects, in many places in the North the IT infrastructure is now better than in the South, living costs are low and the quality of life is much higher than it is for what money can buy in parts of London. So if we can encourage a movement from South to North of entrepreneurs I think that would be absolutely vital to that longer term vision of making sure that the people turn to the North as readily as they’ve turned in the past to London to make their fortunes.

If everybody had to succeed the first time then some of the greatest inventions, household brands and fortunes would never have happened in the first place

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Centre for Business and Enterprise at The Sheffield College

The Sheffield College Centre for Business and Enterprise is a new venture delivering real business value for individuals, SMEs and large employers.

Offering a range of business master classes, short courses for SMEs and professional qualifications to help you improve your skills and know-how to support business growth.

MADE 2014 FREE offer Book two short courses and bring a friend or colleague for FREE* This offer is only available for bookings made during MADE Festival 2014.

Visit us at our exhibition stand on Thursday 25th and Friday 24th September to make your booking and take advantage of this great offer.

0114 260 2600 www.sheffcol.ac.uk/centre-business-enterprise info@shefcol.ac.uk * Terms and conditions apply. Visit our stand or the website for further details.

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

My bid to ‘sauce’ new markets Music man and food revolutionary Levi Roots has no plans to kick back in the sun and enjoy the trappings of success just yet, he tells Andrew Mernin ahead of his appearance at MADE

At the end of Levi Roots’ rainbow awaits a rum punch and a bouquet of beautiful mermaids. But, he says, “I don’t think I’ll ever drink that rum punch. I’m having too much fun here.”

The mermaids can wait too – for now at least – with the 55-yearold harbouring no desire to slow down and enjoy the good life.

And he wouldn’t change a moment of his entrepreneurial rise.

“When you’ve reached the end of your journey and you’ve drunk in the fountain and made love to the mermaids, you have to remember the trials and tribulations that made up the journey. Not just making love to mermaids,” he adds through hearty laughter.

It was 2007 when Levi – real name Keith – finger-picked his way into Dragon hearts and won £50,000 investment from Peter Jones and Richard Farleigh.

His empire has developed rapidly since. A jar of jerk sauce has multiplied into an entire range of products, Farleigh has

amicably cashed out and global markets have opened up.

Some things never change though.

“I’ve been singing that damn Reggae Reggae song for seven years now man,” he says. There is a new album in the pipeline, however, as well as two upcoming single releases.

“It’s time to do a proper album. It’s a serious album because you have to sing songs from the heart.”

The new material will add more depth to his music career that, pre-Reggae Reggae, saw him performing with world superstars like James Brown and Maxi Priest.

But business is the loudest tune on Levi’s boom-box.

Recent developments include the opening of a store in Jamaica (frequented ironically by Brits abroad), the return to Tesco of its ready meal range after a “disappointing” hiatus, and new drinks and snack products. >>

When you’ve reached the end of your journey and you’ve drunk in the fountain and made love to the mermaids, you have to remember the trials and tribulations that made up the journey... not just making love to mermaids!

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MADE The Entrepreneur Festival: Sheffield

Success may have always been considered an inevitable outcome by Levi before he met Jones and co, but nothing could have prepared him for the sheer speed it took off after the Den. He insists he’s kept his feet firmly on the ground since, however.

“I’m still silly old Levi. I don’t say anything or do anything differently. I still live where I’ve always lived and talk to the same people and still have all the things that inspired me around me. I still have my music and I still perform on stage and do things that make me happy.”

An aspect of his life which has changed, though, is his new persona as guru to budding entrepreneurs of all ages. And he thrives on the challenge.

“It’s fabulous. Who, at 55, gets to go to primary schools and talk to kids and hear them sing your songs? It’s what life is made for.

To me it’s just about enjoying myself,” he says, before stressing that he does take his responsibility as an adviser to potential entrepreneurs seriously.

So recognised on British shelves are jars of Reggae Reggae Sauce that they are even included in military arrival packs when British soldiers first land overseas for their latest tour.

So what’s next? “We want to take over the world,” he says of his export strategy which has led to pockets of the globe opening up including parts of Europe and Canada.

Africa, the Middle East and Asia are all on the radar. As is Australia, since “they love a good barbie over there”.

And America? “It’s a different kettle of fish. Over here we were known, we had Dragons’ Den when we launched the product, but nobody knows us over there. America’s a big place and a lot of people say ‘Levi, why aren’t you growing the brand there?’ But trust me it’s not as easy as that.You need a really good plan, but it’s on its way.”

Back in blighty, Levi sees plenty of room for growth. And in chasing further opportunities, he revels in his role as the UK’s Caribbean food revolutionary.

“A certain responsibility has been put on our shoulders and its one we gladly bear. We were there at the start and continue at the brunt of this revolution.

“Caribbean food has always been around in localised areas but it’s just arrived on the high street and people are increasingly recognising what it is. So we have to innovate and diversify to get the cuisine up there with the others.”

In the engine room of Levi’s revolution remains the powerful influence of Peter Jones, the serial entrepreneur. Levi says: “I totally respect Peter because he’s a proper business man. I’m more of a cheerleader and I know where I stand in the business – he needs me just as much as I need him. I cheer him on to do stuff with the brand and I’ve got the guitar, singing the songs and bringing people in to buy the products.

“But Peter’s there at the end of the room with the books and pen saying ‘Levi, they may be singing the songs, but let’s have a look at the numbers’. If you’re lucky enough to have a mentor as a business partner, it’s a fantastic position to be in because when you get it wrong, as I often do, you’ve got somebody on your shoulder you can turn to and say ‘how do I get out of this?’”

The toughest decision to emerge out of this happy alliance was to rebrand the business.

“I was thinking at the time of that old saying ‘if it ain’t broke, don’t fix it’. But it’s a bit like an album. If you put a couple of new tracks on it and you give it a new cover, people start loving the songs all over again.”

The change seems to have worked well, says Levi, who is now focused on growing Reggae Reggae’s global footprint.

Meanwhile, looking back at other pivotal moments aside from the rebranding, the Dragon’s Den pitch clearly stands out. So where would the business be without Levi’s 15 minutes in the glare of the TV cameras?

“I think the sauce would have made it, perhaps not as big as it did and it wouldn’t have gone that fast. But I think it would still have got there. If you bide your time, something always comes along.”

I’m still silly old Levi. I don’t say anything or do anything differently.

I still live where I’ve always lived and talk to the same people and still have all the things that inspired me around me “I know it’s a serious thing I’m messing with and when I’m advising people about their precious ideas I always try to say exactly what I would have done in their situation.”

And having worked as an entrepreneurial ambassador for the government’s New Enterprise Scheme (NEA), he believes his fellow business leaders are missing out if they’re not involved in mentoring.

Through the NEA – which offers start-up funding and mentoring to people on certain benefits – Levi’s mentees have included a skateboard and clothing firm set up by a young man named Dean Clarke. “More people should stand up and be mentor’s so young people can say ‘they’ve done it and I want to hear how, not from someone who I don’t understand or is not from my neck of the woods’.”

Hopefully Levi’s appearance at this year’s MADE festival will inspire new mentors as well as entrepreneurs. Before then, what teaser of advice would he offer delegates hoping to follow in his footsteps?

“If you have a good business plan and stay true to it, it should happen.You need a good product and to stay within the business plan and work hard to market yourself and also don’t mess with your finances. If you do all that you should have that rum punch in five years or so.”

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MADE The Entrepreneur Festival: Sheffield

FOR MORE ENTREPRENEURIAL ADVICE AND INSPIRATION FROM LEVI CATCH HIM ON STAGE AT MADE ON THURSDAY 25 SEPTEMBER

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MADE The Entrepreneur Festival: Sheffield

A bit risky, or is this the future?

Could virtual currencies hold the key to business growth? Andrew Mernin reports on the increasing numbers of entrepreneurs jumping on the Bitcoin bandwagon Such rewards have created a clamour among SMEs to get involved in virtual currencies. And corporations too, like American pay-TV giant DISH and travel empire Expedia, are also opening their doors to the emerging payment model.

Virtual currencies have also drawn the attention of the UK government. Legal and finance bods at Whitehall are busily investigating what role virtual currencies might play in the UK’s financial future and whether they will need to be regulated.

Bitcoin can be transferred instantly and securely between any two people in the world. It can be bought and traded, or ‘mined’ using computer hardware to solve problems.

Simon Hamblin, CEO of Netagio – the first British Bitcoin, gold and sterling exchange – believes government engagement, headed up by Chancellor George Osborne, is a good sign for the sector.

“I think the debate is very healthy, adding legitimacy to a currency which ultimately can bring enormous efficiencies and savings to its users and encourage greater innovation,” he says.

“Any successful regulation put in place needs to promote competition, where appropriate achieve standardisation, and importantly protect the consumer. We welcome authorities >>

When the FBI snared alleged drug trafficker Ross Ulbricht in San Francisco last year, it wasn’t rolls of greenbacks or the details of a Swiss bank account that they seized.

Instead, having cuffed the suspected mastermind of the online drugs marketplace Silk Road, the Feds ultimately took away over US$100m worth of the virtual currency Bitcoin.

The case has become a cautionary tale cited by some analysts to highlight the volatility and dangers of the anonymity surrounding virtual currencies.

As one dubious US commentator put it, Bitcoin “is the harbour of thieves and drug dealers”.

But despite such dark parables as the Silk Road story, the dominant virtual currency Bitcoin look to be winning hearts and minds of legitimate consumers and traders.

And, here in the UK, an increasing number of entrepreneurs are growing their business by going virtual.

Mike Hearn, a former Google software developer now heavily involved with Bitcoin-related systems, says the biggest benefit to businesses of using virtual currencies is cost.

“Bitcoin payment processors charge much lower fees than credit card processors and if you don’t want to involve a third party, you can accept Bitcoin payments yourself. There are also zero setup costs so, if things don’t pan out, nothing’s lost.”

Hearn also points to the export potential opened up by virtual currencies. “Many online businesses could theoretically sell internationally if only they could accept payment. But credit cards are barely functional in many jurisdictions either because people are poor credit risks or because high fraud rates mean card companies and banks decline a lot of transactions. Bitcoin has none of these problems.You can truly sell to any corner of the planet, because there are people in every country working on making Bitcoin available.”

Bitcoin payment processors charge much lower fees than credit card processors and if you don’t want to involve a third party, you can accept Bitcoin payments yourself. There are also zero setup costs so, if things don’t pan out, nothing’s lost

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

looking at regulation, but it needs to be proportionate and not stifle innovation.”

What form legislation takes remains to be seen, but in the meantime, UK entrepreneurs are forging on into the virtual payment game regardless.

Among them is Max Forrest, co-founder of digital PR firm Pressat, who took the decision to accept Bitcoin as payment in December.

“Purchasing speed, low transaction fees and the chance to be involved in something revolutionary,” drove the decision, he says.

And the move has certainly paid off for the Manchester business.

“We’ve tapped into a new revenue stream which includes a range of start-ups and growing businesses in the Bitcoin industry and we’re continually seeing clients who normally pay through Paypal, for example, choose Bitcoin.

“We truly believe that in the next few years Bitcoin will account for a massive proportion of transactions made globally.”

But the Bitcoin revolution is not without its opposition, says Forrest.

“The City of London is one of the largest financial hubs in the world and at the forefront of new technology but surprisingly

based Retro Towers, is similarly upbeat about the power of Bitcoin.

“There’s no harm in accepting them to see if they help your business,” he says. “And if you’re worried about them losing value, you can always convert them into British sterling, US dollars or any other major world currency with various services online.

“The only real challenge is that the Bitcoin price is very volatile, so if you are keeping your earnings in Bitcoin you have to accept that the value could drop or rise in a short period of time.”

Volatility is the watchword in virtual currency land – in the second quarter of the year the price of Bitcoin climbed 39.4% from the end of Q1, albeit to 16% less than its value at the start of the year.

Apple’s announcement that it will allow Bitcoin apps in its store and the all-time Bitcoin venture capital level hitting US$200m in June were among the events which seemingly impacted on the price in the period.

At the time of writing, midway through Q3, Bitcoin value has slipped 19% in less than two weeks to around US$600.

But entrepreneurs can protect themselves from such fluctuations, says Marc Warne, who runs Bittylicious, which enables anyone with a UK bank account to quickly purchase Bitcoins.

“You need to be aware that the price of Bitcoins fluctuates rapidly compared to most other major currencies so it might be wise to convert at least some of it into the currency you would use to pay suppliers or taxes,” he says.

“There are also companies out there like BitPay that even mean you don’t have to touch Bitcoins themselves; they accept Bitcoins on your behalf and pay out pounds, euros or dollars,” he adds.

Clearly, while many entrepreneurs may be eagerly awaiting their virtual currency entrance, others remain apprehensive.

But, as a global movement gathers pace, a proactive community of supporters and a willingness to co-operate across borders is aiding the growth of digital currencies.

Financial services expert Joseph Burgess, of Hudson Sandler PR agency, explains: “Bitcoin is a complete revolution on the banking and finance system that both economists and lay men have come to know as standard.

“The merits of Bitcoin as an innovation are irrefutable, and it will no doubt serve to form the basis of much future financial theory and application.

“Whether it is the currency of the future is debatable, but cryptocurrencies are definitely a revolution to the conventional thought, and we’ve not yet seen the last of them, indeed the Bitcoin system may serve as the foundation for multiple adaptations and evolutions.”

We’re continually seeing clients who normally pay through Payal choose Bitcoin.We truly believe in the next few years Bitcoin will account for a massive proportion of transactions made globally so far the UK government and the Financial Conduct Authority are still making it hard for Bitcoin businesses to get licenses and even bank accounts, which we believe is the legal right for any business.”

Resistance aside, though, the PR boss believes the ongoing rise of virtual currencies in coming years is inevitable.

“Whether virtual payments are something you like and trust or not, they are here to stay. For this reason it is in the interest of every entrepreneur to embrace – or at the very least acknowledge – the technology as we feel it will become a cornerstone to all financial transactions in the coming years.”

Video games retail entrepreneur Dan Hunter, from Hertfordshire-

INTERESTED IN VIRTUAL CURRENCIES? FIND OUT MORE AT A SPECIAL FUNDING-FOCUSED SESSION ON THURSDAY 25 SEPTEMBER AT MADE’S FRINGE PROGRAMME OF EVENTS

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A meeting of minds.

Sheffield University Management School’s excellent reputation is underpinned by our links with the region’s business community.

To prepare them for the working world, our students need to engage with real life scenarios. We are keen to hear from organisations which have a business challenge that our talented students can help to resolve.

For more information, visit management.sheffield.ac.uk/students/projects The high calibre of our students never fails to amaze us – we want you to benefit from that talent as well.

Your success is our business.

Sheffield University Management School, part of the University of Sheffield, is in the top one per cent of business schools in the world.* Don’t miss our free-to-attend leading business speakers and networking events.

For your invitation, sign up to our mailing list: mgt.events@sheffield.ac.uk *

One of only 58 Triple Crown accredited schools worldwide (AACSB, AMBA, EQUIS)

management.sheffield.ac.uk @UoS_Management

MADE The Entrepreneur Festival: Sheffield

Get your story straight Heard the one about the kid who sold cans of pop on the playground and went on to become a retail tycoon? Or the young mum who nurtured a kitchen table invention for her baby into a multi-million pound giant?...

HOW DOES THE WORLD REALLY SEE YOU? “Entrepreneurs are often so involved in their journey that they forget what people see on the outside,” Rekha says. “But the story of who you are and what you do is so important in so many situations, whether you’re talking to investors, customers, the bank or your staff.”

TEST YOUR THEORY…THEN TEST IT AGAIN “A common problem when people start businesses is that they don’t properly test that they are actually solving a problem for consumers. People can look at their own business idea or concept with rose-tinted glasses. So, for any business to survive, it’s got to solve a problem for someone other than the business owner.

That’s a fundamental difference between a great idea and a commercial proposition.”

THINK ABOUT YOUR UNIQUE SELLING POINT An entrepreneur’s back story – whether real or embellished – is an intrinsic part of how they sell themselves to the world.

Your creation story, tied neatly into what you do, how you’re different and your core values, can open doors, woo investors and bag lucrative orders.

Rekha Mehr knows a thing or two about such matters, having successfully built up London-based Anglo-Indian cake and sweets business Pistachio Rose from scratch.

Most recently she spent a year in government as entrepreneur-inresidence under Business Secretary Vince Cable.

She was tasked with being the voice for start-ups and small firms and helping to involve business in the government’s decision making process.

And now she has new enterprises in the pipeline, including an “e-learning academy”, alongside her many mentoring activities.

Ahead of her appearance at MADE, she shared her tips on selling yourself as an entrepreneur through storytelling:

“It sounds obvious, but the unique selling point (USP) is the customer’s main reason for buying your product. When you’re looking at a more mature market, the USP can be niche but it’s got to be there, it’s got to be real and incremental.

“There might be some overlap but there’s got to be a little bit of space so it could be as small as servicing a new area that other businesses can’t get to or offering the same services at the same price but doing it more quickly. Or the same price but some kind of extra value in there.

“As an example, there was an accountancy guy who was interesting as there are a gazillion accountants out there, so what was his thing?

We discovered that he had previously been in finance director roles. So his USP was offering businesses a retainer to have an FD on their books.

“So it’s not always clear but by unravelling what is there and what other competitors are doing you can look for the gaps in the market.”

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MADE The Entrepreneur Festival: Sheffield

BEGINNING, MIDDLE AND END “Building a story comes down to three elements: Why have you started this business? What problem is it solving and how are you going to solve it? What impact is it going to have? Some businesses will come in and disrupt, some will be legacy and others will integrate something that’s already there, but crafting a total proposition for what you’re selling is really important.”

GET TO THE POINT QUICKLY “Justify why you’re standing in front of your audience, why you’re going to take up their time and take them on a journey with you.

What is your solution and how does it fit in with them.”

KEEP YOUR STORY RELEVANT “When people are presenting themselves, it’s so common for them to just put across everything they know and they tend to think that the audience needs to know everything. But they don’t.

Retail buyers, for example, are only thinking about exactly where a product is going to sit on their shelves or on their website, and why a customer is going to buy this product over what else is there. Also where does the product fit in their good, better, best propositions?”

WHY IT PAYS TO BE HONEST “If you stretch the truth people can usually see through it and if your story all sounds too smooth that’s never going to work either. I think it’s really important to demonstrate a bit of learning on the journey. That doesn’t mean talking about all your failures, but rather showing you’ve really thought about the concept, have explored different areas and learned things along the way.

That makes a very natural story and justifies why you’ve arrived there. Also if the person conveying it is passionate, then even better.”

“Entrepreneurs are often so involved in their journey that they forget what people see on the outside,” Rekha says. “But the story of who you are and what you do is so important in so many situations, whether you’re talking to investors, customers, the bank or your staff.”

CATCH REHKA MEHR ON STAGE AT THE MADE FOR SUCCESS CONFERENCE AND IN A SPECIAL WORKSHOP AS PART OF THE FRINGE EVENTS PROGRAMME. SEE WWW.MADEFESTIVAL.COM FOR DETAILS

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MADE The Entrepreneur Festival: Sheffield

Fresh thinking Teaching entrepreneurship is about encouraging people to think differently and make the most of their resources, argue two of Sheffield University Management School’s brightest luminaries “We want to know what makes high-growth entrepreneurs different,” says Dr Tim Vorley over the roar of the motorway.

“We’re also looking internationally at how entrepreneurs differ from country to country and what stimulates high-growth entrepreneurship,” he adds.

Vorley is joined on the road by fellow entrepreneurship lecturer at Sheffield University Management School, Dr Robert Wapshott.

They are en route to the airport, where a flight to an international entrepreneurship summer school in Moscow, awaits them.

The event is the result of a partnership between the management school and the Higher School of economics in Moscow; a relationship which perhaps highlights the increasingly global outlook of many management schools.

And, says Vorley, such international awareness only enhances what entrepreneurs and business leaders can gain by spending some time on campus.

“A lot of businesses don’t know about the sheer range of resources that we have at universities and sometimes they are reluctant to

approach us. But actually there are a lot of different ways that they can engage with us. Things like dissertation projects, company projects for MBA students, internships and other projects offer a great variety of ways they can work with us.

“Some of the most interesting enquiries I’ve had are when businesses email and say ‘I see what you’ve done in this area’, or ‘we’re interested in knowing about your work in Russia or Asia, can you help?’ And I would say 99% of the time the answer is ‘yes’ but it has to be something interesting that we can work on together.”

The management school is also actively involved in researching issues which shape the destiny of UK entrepreneurs.

Wapshott says: “We try to take lessons from our research to help businesses. For example, we’ve been looking recently at how entrepreneurs take on employees for the first time and how we can make that process easier. If entrepreneurs are too cautious about taking on people, they are never going to grow so that’s an area where research can offer great insight. That research was fed into the Department for Business, Innovation and Skills.” >>

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MADE The Entrepreneur Festival: Sheffield

There’s a whole unhelpful rhetoric about red tape and where we come from within the research area we can see that, although there is a smear campaign against red tape, it’s getting better and continuing to improve

Red tape has also come under the school’s focus in recent months.

“The general tone around red tape is that it’s a real killer but actually if you ask businesses to give a specific example of where regulations have hindered them, they can’t,” says Wapshott.

“There’s a whole unhelpful rhetoric about red tape and where we come from within the research area we can see that, although there is a smear campaign against red tape, it’s getting better and continuing to improve. But we can identify where red tape might need to be removed so it’s about sharing that knowledge and packaging it through different courses to help entrepreneurs realise their potential.”

The school is also part of the research body, the Centre for Regional Economic Development, and is working with stakeholders of the Sheffield City Region economy to help maximise the economic impact of the private sector.

Meanwhile, it is also gearing up for next month’s launch of a new MSc Entrepreneurship and Management course.

Vorley says: “It’s not just about teaching people how to set up businesses, which they can pick up elsewhere through business support, it’s also about the entrepreneurial mindset and how entrepreneurs operate in different contexts. We have applicants coming from India, China, Russia and parts of Africa, as well as the UK, so it’s a highly international course delivered in Sheffield.”

And, as Wapshott explains, the way entrepreneurs approach their goals and achieve success will be analysed methodically on the course.

“When people work in management they generally have a goal and they have a given set of resources to configure to achieve that goal. Similarly entrepreneurs have a set of resources, which might

include who they know and what they know. But instead of trying to configure that to achieve a single goal, we try to get across that there are lots of different things that can be reconfigured to achieve different outcomes.

“It’s about trying to encourage them to think about problems and opportunities differently. Traditionally the business plan, and its focus on goals, has been part of how schools teach entrepreneurship.

Whereas, if you can get people thinking about the resources they have available to them to start with, they can come out with much more interesting outcomes.”

Such lessons are not only applicable to entrepreneurs, however.

Vorley says: “When we talk about entrepreneurship, it isn’t just about people who want to go into self-employment. That mindset is also useful within organisations, perhaps if you’re running a division and you’re looking at new markets to go into, for example.

If you’ve got more entrepreneurial managers in business, you can stimulate growth to a greater extent.”

TO FIND OUT MORE ABOUT SHEFFIELD UNIVERSITY MANAGEMENT SCHOOL VISIT WWW.SHEFF.AC.UK/MANAGEMENT 26 26

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

A steely resolve When staring into the void of seemingly certain doom, entrepreneurs can either accept the inevitable failure or fight relentlessly to escape and survive.

Here’s how Graham Honeyman did the latter as he brought the only British owned steelmaking company back from the brink Most entrepreneurs will, at some point, face their dark days.

Those periods when failure looms large overhead, as the business struggles to survive knock after knock.

Coming back from the brink can seem an impossible task, especially when financial lifelines have expired and the descent into the red is quickening.

MADE delegates keen to prepare for such times - regardless of how buoyant their business might be right now - would do well to spend some time in earshot of Graham Honeyman.

The manufacturing boss, who is among the top speakers at this year’s festival, completed one of the most remarkable turnarounds in the UK’s private sector in recent decades.

Today Sheffield Forgemasters International Ltd (SFIL) is one of the darlings of British manufacturing and engineering, employing almost 800 people and enjoying annual revenues in excess of £110m.

Around 80% of earnings come from exports, with blue chips >>

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MADE The Entrepreneur Festival: Sheffield

“One of them was -178%, which was ludicrous, so we got rid of those and also had to make about 60 to 70 redundancies.”

Next, he sought to shift focus from competing on cost to quality and having world-class technical capabilities.

“The quality wasn’t good and we needed to get control over it.

We needed to grow into much more of a technically-based operation. So we gradually wound back our reputation as a quality organisation.”

Generating morale amid dire conditions was also extremely important if Honeyman’s plan was to work.

“In times like that there’s bit of a war spirit among staff.You can motivate people from the depths of adversity and say ‘right we’ve got a fight on here and I need you to do this, this and this’. Rather than sitting in an office, if you’re out and about talking to people and you get them interested and motivated, then all of a sudden it goes beyond just a company.You get the local community and government supporting you, and suddenly lots of people want you to do well.”

This approach paid off and by Christmas the company had edged back into the black. But across the pond its parent firm was slipping into bankruptcy. Honeyman acted quickly to ring fence the Sheffield operation away from the rest of the group – which included a cast rolls business in Crewe. SFIL came within three hours of closure as it tried to persuade the US parent to sign documents to prove to the banks that the Sheffield site was going it alone. They signed and a prolonged process of seeking

like Shell, Rolls-Royce and BAE, as well as the US Navy, among its clients. But the firm, which once made parts for Spitfires and Lancaster bombers, was in seemingly terminal decline in 2002.

That was until Honeyman made his heroic return to the business that, just three years earlier had fired him over a disagreement with management.

Previously he had enjoyed an illustrious engineering career.

Highlights included a Ministry of Defence-funded PhD to develop armour plate, a Winston Churchill medal for engineering and a Royal Academy silver medal for outstanding performance in British engineering.

By 1998 he had progressed into the managing director’s berth at Sheffield Forgemasters. But just 10 weeks after his appointment he was given his marching orders by the then American owners who disagreed with his plan to focus on high-tech, high-value products rather than cheaper production lines.

“That wasn’t exactly enough time to turn the company around,” says Honeyman. “But in May 2002 they invited me back because their philosophy hadn’t worked at all and they had got rid of their then British chief executive. So I came back as a consultant.”

With the company losing £750,000 a month, he had until Christmas to reverse the firm’s fortunes.

The first step in his turnaround plan was to wipe out the loss makers. “The banks were going to shut us down so we had to do something sharpish. Some of our contracts were hugely loss-making.

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MADE The Entrepreneur Festival: Sheffield

a viable future culminated in the 2005 completion of a management buyout.

During that time Honeyman also gained government help in ensuring the company’s pension scheme – underfunded by £65m – didn’t sink the Sheffield factory.

And from here the transformation of the age-old Yorkshire business began to accelerate.

Central to its success as the only British-owned steelmaking company, says Honeyman, is its staff ownership policy.

“When the government took the pension scheme off our hands they owned 30% of the company but we bought it back in 2007 and sold those shares to the shop floor, so the shop floor now owns 30% of the company and the management 70%.

“Once you own the company you then become very motivated to want it to work. The people on the shop floor are constantly asking how the company is doing and so it has become their company; you can feel that by talking to them.

“That’s why we charged for the shares because, if you pay for them, you’ll be much more engaged in the future of the company and how it drives forward.”

As well as bolstering morale within the company, Honeyman and his management team were also keen to change the external perception of the business.

“We were tired of seeing only bad news about the company, so we needed to advertise the good things that were happening. So we hired a PR agency and all of a sudden it became a special company again.”

Diversification has also been key to SFIL’s success. When the company underwent the MBO its business was 100% manufacturing. Now, however, it is 90% manufacturing and 10% of what Honeyman calls “added value”. And that 10% is on track to encroach further into the company’s territory in coming years.

“During our turnaround we set up a design business which last year turned over around £30m. We also started a research and development company which has gone on from strength to strength. It’s now the mainstay of our company and a lot of external clients like Rolls-Royce, for example, are using our research facilities.

“I would say it’s the leading research facility in its field in the world.

We can make things on computers before we make them in real life, and take them from steelmaking right through to finishing. We can predict the properties of things and then show the shop floor how they should make something. So we don’t have to spend a lot of money experimenting with metal on the floor, it’s all done through simulation.”

Today SFIL produces steel ingots for the forging and ring rolling industries as well as supplying parts to an array of other sectors including nuclear, offshore oil and gas power generation

“You have to be better than other people, you have to have a product that people really want and you’ve got to deliver it.You can’t stand still and you need to always be moving on to something else”

and defence. It also makes the world’s biggest castings for mills and presses and project manages bespoke, multi-million pound engineering packages for clients.

Fabrication of components is also a high growth area. It means oil and gas clients, in particular, no longer need to have parts shipped to another location for finishing once SFIL has made them.

Among this year’s highlights for the group is a new £3 .7m contract to supply castings to the US Navy’s submarine fleet. It also recently opened a new facility in Singapore to support its offices in Europe and the US and to aid its growth across Asia and Australasia.

Throughout SFIL’s re-emergence as a global industrial force, its ability to nurture talent has been crucial, says Honeyman.

“About 8% of our workforce is made up of apprentices. We used to have an ageing workforce but now we’ve brought the average age down from 51 to 41, which gives us a good balance between young people and people with experience. Whenever we advertise for apprentices, if we typically have 15 spare places, we normally have around 300 people apply.

“With our apprenticeships, we don’t just put them in a room with books, we make them work because we want them to feel like they’ve done a day’s work. And 90% of our apprenticeships survive the three-year course, all of which are given a job. We also fund people through their education, including one or two PhD students, and we work closely with Cambridge and one or two other universities.”

Alongside people power, striving to be the best, rather than the cheapest, has also been instrumental in SFIL’s resurgence, reflects Honeyman.

“You have to be better than other people, you have to have a product that people really want and you’ve got to deliver it.You can’t stand still and you need to always be moving on to something else,” he says

SEE GRAHAM HONEYMAN ON STAGE AT THE MADE FOR SUCCESS CONFERENCE 31 31

MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

You Caan do it!

Entrepreneur, former TV Dragon and chairman of the Start Up Loans Company, James Caan, talks going it alone and making a success in business with MADE Magazine HOW IMPORTANT DO YOU BELIEVE START UP LOANS HAVE BEEN IN HELPING THE UK ECONOMY TO RECOVER?

have a second job in which they are self-employed. I think as a nation we are really starting to see the benefits of being your own boss and individuals are more willing to make the jump. As the economy continues to recover people may see it as less of a risk to go it alone and also see the potential opportunities available to them.

Small and medium sized businesses are at the heart of any thriving economy - they employ over 13 million people in our workforce.

If we want to get the country moving in the right direction once again, these ventures are exactly the type of businesses we should be backing.

During tough economic times, historically you always see a burst of enterprise and it’s been no different in the current climate. Financial backing is much harder to get, with banks really tightening on lending, that is where Start Up Loans have come in.

HOW DO THOSE PEOPLE IN STABLE JOBS ASSESS WHETHER IT’S THE RIGHT TIME TO GO IT ALONE? I believe business is about people.You can have a great idea, but if you aren’t driven, passionate, savvy and ready to go the extra mile, your business is unlikely to succeed. One of the most important traits any business owner requires is discipline. Some people operate with clear deadlines, or with the benefit of feedback and support.

Others flourish by being given targets to beat. As an entrepreneur you set your own goalposts, and won’t necessarily get people congratulating you on your success.

You have to take a step back and try to be non-emotional when deciding if you’re ready to go it alone.You have to try and look at it in the same way you would if you were advising someone else. The best advice I can give is to essentially interview yourself. Would you back you to lead a company? Understand your own strengths and weaknesses, but more importantly, understand what drives you.

ARE THE BULK OF START UP LOAN APPLICATIONS STILL COMING FROM PEOPLE WHO’VE RECENTLY BEEN MADE REDUNDANT? Over 8,000 - which is 44% - of our loan recipients were unemployed before taking their loan out. The scheme offers these people the opportunity to take control of their future, create jobs for themselves and potentially others. One of our loan recipients, Sharon Shearer, started her own venture after being made redundant. Her business, Superior Bathrooms, now employs seven local contractors in the Hamilton area.

Starting your own business can be a really viable option for many people, whether they are a returning parent wishing to have more flexible working hours to fit around family life, someone who has spotted a gap in the market or maybe simply an individual who is unsatisfied in their day job and wants to follow their passion.

DO YOU HAVE ANY ADVICE ON WHERE PEOPLE CAN LOOK FOR IDEAS THAT COULD TURN INTO START-UPS? There are certain steps you can take to help get the creative juices flowing. The first place you should start is thinking about your >>

AS THE ECONOMY IMPROVES, DO YOU THINK WE’LL INCREASINGLY SEE PEOPLE WITHIN STABLE JOBS TAKING THE LEAP OF FAITH AND GOING IT ALONE, PERHAPS THROUGH THE SCHEME?

Business is about people.You can have a great idea, but if you aren’t driven, passionate, savvy and ready to go the extra mile, you’re unlikely to succeed

According to figures recently released from the Office for National Statistics about 15% of those currently working in the UK are selfemployed which is the highest figure since records began. That’s 4.6 million people, and on top of that there are an extra 356,000 who

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MADE The Entrepreneur Festival: Sheffield

WHETHER PITCHING FOR INVESTMENT, BANK FUNDING OR APPLYING FOR A LOAN, WHAT ARE THE MOST IMPORTANT POINTS BUDDING ENTREPRENEURS SHOULD CONSIDER IN GETTING THEIR STORY AND POTENTIAL FOR SUCCESS ACROSS? 1. TEST YOUR IDEA IN THE MARKET

passions, as well as the products and services you would like to see in market. More importantly, if you align these thoughts to your own skills set, you are more likely to succeed. When Larry Page and Sergey Brin came up with the concept for Google in their dorm room at Stanford University, they were already immersed in the study of technology and computer science. They were passionate about it, and this is the area where their skills set lay. Capitalising on your interests and talents seems the most natural place to start.

You don’t have to come up with a wacky new invention or a new life-changing product or service to be classed an entrepreneur.

Some of the greatest entrepreneurs are those who have seen an opportunity to develop ideas that are already on the market.

These people have wanted more and believed they could enhance the design and concept to improve it.

The secret here is to do things bigger, better, faster or more efficiently than others. This could be combining two ideas or solving the problems faced by previous products and services you believe have room for improvement. It could be as simple as streamlining something in a better way than your opponents have or bringing two complementary services together.

I had more than 1,000 entrepreneurs present to me on Dragons’ Den and I would say 90% of them spent only 10% of their time talking to customers and the rest developing the proposition. If the balance were nearer 50-50, more people would be successful.

2. BE CONFIDENT AND DIRECT

This means everything from your pitch to your appearance. Be confident and sure of yourself – never seem as if you’re apologetic for being there. If you don’t seem like you have confidence in your business idea, neither will the person you are pitching to.

Remember not to be constrained by your slides – they should form the basis of what you are saying, but you need to be direct and to the point.

3. LOOK THE PART If you want to be taken seriously, then dress seriously. If you’re a bit on the scruffy side, it looks like you didn’t make the effort – and that sends out completely the wrong message. If somebody was to come to my private equity firm wanting an investment and was wearing scuffed shoes, or white socks with black trousers, that would instantly create a bad impression. It may seem minor but those things tell me that you don’t pay enough attention to detail – and if I’m backing you to run a business, that’s not a trait I look for.

QUESTION...Mentoring is a big part of the Start Up Loans scheme. What would you say to encourage successful entrepreneurs to become mentors themselves?

There’s no doubt that starting a business and becoming your own boss is now an extremely attractive proposition. But the one thing which I think is crucial throughout the process is getting solid advice from people who have been there and done it. Things like managing cash flow effectively or knowing how to get the best out of your recruitment process – these are all critical elements which can sometimes overwhelm for a new business owner. Being a mentor can be really satisfying; knowing you are contributing to the success of a new business, it’s great for developing the mentor’s skills as well.You are doing something different from the day job, and get to see things with a fresh perspective. Advising someone else can also be great for shining a spotlight on your own ventures and seeing how you could improve as well.

4. BELIEVE IN YOURSELF

Entrepreneurship is absolutely rife in the UK, and so is a fantastic ability to think outside of the box. We’re not short of great people and opportunities, we just have to believe in ourselves and recognise that it’s not what we can’t do, but what we can.

THE START UP LOANS COMPANY IS A GOVERNMENT FUNDED INITIATIVE THAT PROVIDES START UP SUPPORT IN THE FORM OF A REPAYABLE LOAN TOGETHER WITH A BUSINESS MENTOR FOR ENTREPRENEURS ACROSS THE UK. FOR MORE INFORMATION VISIT WWW.STARTUPLOANS.CO.UK 34 34

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MADE The Entrepreneur Festival: Sheffield

ONES TO

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MADE The Entrepreneur Festival: Sheffield

O WATCH

Britain’s entrepreneurial future looks to be in good hands if the shortlist for the MADE BQ Emerging Entrepreneur of the Year award is anything to go by >>

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MADE The Entrepreneur Festival: Sheffield

Throughout the year BQ Magazine and its judging panel of leading entrepreneurs has outlined eight of the UK’s hottest business prospects. After receiving hundreds of nominations from readers of its Yorkshire, North East, West Midlands and Scotland editions, the best emerging entrepreneurs from each region were identified.

Individuals were judged on their entrepreneurial character, business strategy and impact, innovation and personal values.

In a grand final at the MADE Gala Dinner on Thursday 25 September at Cutlers Hall, Sheffield, an overall winner will be announced. And as you’ll see from the quality of the shortlisted enterprises, the judges have an arduous task in picking the best of an outstanding bunch.

across the UK on the back of his father’s Harley Davidson. The company’s expert beer tasters send out a monthly case of craft beers to its subscribers, helping small breweries to promote their brand and drinkers to discover the best exclusive, small batch beers from around the world. After launching in September last year, the company has grown at a phenomenal rate, attracting 12,000 customers, signing deals with more than 70 top microbreweries and raising close to £200,000 investment at a £1m+ valuation, all within its first six months of trading. The company is already ten times the size of its closest competitor.

DAVID CARR, FRANK & BIRD Sausage festivals and beers for dogs are just a fraction of the clever marketing activities that David used to turn a £1.5k-a-week pub operation in Newcastle into a £1m+ per year, diverse business.

David now runs two flourishing pubs in the North East under his own hospitality brand Frank & Bird, employing 27 staff and running a range of innovative events which have helped him achieve exponential growth in the business. His regular sausage festival is outstandingly successful. Over three days 40 types of sausages might feature, many quite extraordinary. One sampling included pork and cherry, Thai coconut chicken, kangaroo and anchovy, bison and blueberry, black rabbit and Brooklyn chocolate stout, wood pigeon and venison, full English breakfast, ostrich and rosemary, pork, bean and jalapeno - even crocodile and sage. But in culinary circles he is perhaps best known for his signature dish, The Dirty Thoughts of Cheryl Cole, about which we’ll say no more.

David is an entrepreneur who refuses to accept that the pub is dead.

In fact, in his world, it is positively thriving.

THE SHORTLIST LEWIS BOWEN, GECO INDUSTRIES Geco Industries was incorporated on the same day as Lewis’ last exam at university in 2011. It was set up to make alternative energy affordable and accessible. Fuel4, manufactured in Sheffield, is a camping fuel product which, soon after its launch, secured an exclusivity deal with the fastest growing and largest outdoors retailer, Go Outdoors. The product was created to find a solution to the issue of indoor air pollution. It is a bioethanol gel fuel that is smokeless, non- toxic, nonexplosive and an ultimately safer fuel for cooking and heating versus substitutes. Alongside the gel is the Fuel4 X series, developed for the outdoor industry, offering all-inone cook sets aimed at the eco camping market. As well as growing in the UK, Lewis has already managed to access overseas territories.

In September last year the company secured a six year distribution deal worth £250,000 with one of Europe’s largest camping distributors which led to the products reaching 1,000 new stores. Currently 10 new countries are on the horizon for the firm and new franchises are also planned for Africa.

ZOE FARRINGTON, REALRIDER No fewer than five roaring machines had the name REALRIDER emblazoned on them as they flashed past cheering spectators at this year’s Isle of Man TT races. Zoe Farrington, the businesswoman behind it, was selected by judges for her impressive raising of capital during a particularly difficult economic period for start-ups, and

JAMES BROWN, BEER52 James founded Beer52 last year following a craft beer road trip

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MADE The Entrepreneur Festival: Sheffield

Music, the Isle Of Wight Festival and Metal Hammer Magazine.

Its games have featured artists such as Bullet For My Valentine, Bring Me The Horizon, Lawson and Roger Sanchez.

Meanwhile, its Music Festivals Game enables players to build and manage their own music festival and is the only game of its kind which integrates ‘real’ music. This alone has more than 1.25m users globally. Soshi has also secured work outside the music industry, including its contract with Arriva transport for a consumer-facing bus game.

for her major contribution to a successful lifesaving innovation.

REALsafe Technologies Ltd is a technology start-up that launched an industry-first online platform and safety-based app for motorcyclists last year. The REALRIDER® app lets motorcyclists track rides, record points of interest and keeps them safe when they ride alone. Its innovative REALsafe crash detection technology automatically detects if a rider has had a crash and contacts the emergency servicesº with their last known location and medical details. This vital information is given to attending units, providing a greater chance of swift and successful response to an incident.

This is the UK’s first 999 app to be accredited and is the only app on the market to connect riders directly with the NHS when they need it most. The company expects to hit £3.9m turnover within three years.

CLAIRE MORLEY-JONES, HR180 Claire started her business at the age of 28 with just £2,000 working capital from savings and three clients. Since then she has built up a small team of staff and taken her turnover beyond the £300,000 mark. She even managed to grow turnover by 51% and net profit by 63.5% in the 2013/2014 financial year despite spending four months of that period on maternity leave. The business has evolved from an HR consultancy into a one stop shop which handles all employee related issues. Areas of expertise include outsourced HR, mediation, recruitment, payroll and health and safety services. Claire is also active as a business mentor and is on the board of a number of companies as a non-executive director.

AMRIT CHANDAN AND SCOTT HARDMAN, BLUE VINE CONSULTANTS Amrit and Scott, both PhD students, specialise in marketing innovative and sustainable technologies. Services include market research, strategy and intelligence and ‘hot prospect’ generation.

The business has also evolved since its launch to explore new opportunities, enabling it to help a diverse range of companies covering areas such as battery electric vehicles, IT and the food industry. The company also consults on projects related to Horizon 2020, an EU framework programme for research and innovation.

Among the contracts the consultancy is working on is a major project to develop next generation ultra-light, green battery, electric vehicles.

CALLY RUSSELL, MALLZEE Mallzee was launched in April last year to create a personal shopping experience on mobile platforms and take advantage of the £15bn+ spent online on clothes every year. It now recommends clothes from over 100 retailers, including ASOS, Topshop, River Island, Urban Outfitters and Ted Baker, building a style profile on each user in the process. In less than two years Carly has taken her idea from a piece of paper to tens of thousands of shoppers around the world. She also has around a dozen staff and has raised over £500,000 in investment from business angels.

Her app was also named by Yahoo as one of six apps that could change shopping forever.

CLIFF DENNETT, SOSHIGAMES Developing mostly music-flavoured games for mobile platforms and social media, SoshiGames has enjoyed a meteoric rise to power since its emergence in 2010. Cliff ’s business helps music artists and bands monetise their huge fan bases through gaming. Soshi’s games have already been played by over 1.3 million people in over 200 countries and deals have been done with the likes of Universal

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MADE The Entrepreneur Festival: Sheffield

Being successful is not an accident!

That’s the view of hypnotherapist and self-help guru Paul McKenna, who believes that achieving your dreams is all about thinking and acting in the right way

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MADE The Entrepreneur Festival: Sheffield

London-born Paul, who now lives in Los Angeles where he’s worked with everyone from rock stars and Hollywood movie legends to top business achievers, is jetting in to open MADE with a powerful keynote speech. And Paul, author of popular self-help titles including I Can Make You CONFIDENT and the best-selling self-help book in UK history, I Can Make You THIN, says he’ll be offering more than just a few tips to entrepreneurs looking to set up, launch and grow their businesses and achieve ultimate success.

He says: “I don’t just have a few tips for people, I have an actual strategy – the strategy of the super achievers.

“I don’t believe that success and happiness are things that just randomly happen to some people and not others. I believe they are created through certain ways of thinking and acting.

“I have had the opportunity to work with people who are super achievers and those who are in dire straits, and my focus at MADE, The Entrepreneur Festival will be to talk to people who are looking to launch their own business, or who have already got a business up and running, about how they can make the success they crave a self-fulfilling prophecy.”

Paul, whose self-help books have sold more than seven million copies and been translated into 32 languages, says his curtain-raising presentation at MADE will draw on his in depth study of some of the world’s most successful business leaders, including business magnate and investor Sir Richard Branson and retail multi-billionaire Sir Philip Green.

He says: “Although there are clearly distinctions between super successful people as they work in different fields, it is striking that their overall strategy for success in business is more or less the same.

“Basically you get rewarded in business for adding perceived value. It’s about really focusing on who

your customers are and what they want, and how you can offer them that something extra.”

Paul says super successful people are also those who refuse to be defeated by knock backs. And that doesn’t mean simply sitting back and waiting for the punches to come.

He says: “When I work with anyone starting a new project, one of the first things I ask them is ‘What’s going to get in your way?’

“It might be that I want to write a book, for example, but I can predict that some people will say they’ve read self-help books before and they don’t like them.

“By acknowledging the obstacle and preparing to be knocked back, I can find a way of dealing with it. I call it inoculation.

“Equally, sometimes you’ve simply got to take a punt.You can’t predict everything that is going to happen in life but you can get yourself into a place of resilience so you are better equipped to deal with whatever comes along.”

And Paul, whose self-help books and apps also focus on issues such as quitting smoking, sleeping better, gaining confidence and even mending a broken heart, believes that success is within everyone’s grasp.

He adds: “Anyone can be successful but ultimately success will be defined by you.

“For some people, the measure of success is purely numbers and how much money they are making, for others it might be about running a business which is ethical or being able to work less and spend more time with their family.

“For me, the numbers are important but more important is that you are able to feel proud of yourself.

“One of the things I really like about the USA is the ethos of hope.

Fundamentally we’re all the same and we all deserve the same chance in life.

“I should really be running an electrical shop in Enfield but I’ve always been fascinated about what makes people tick. What I am probably most proud of is helping people everyone else has given up on, to show them that they can make a success of their lives too.”

For some people, the measure of success is purely numbers and how much money they are making, for others it might be about running a business which is ethical or being able to work less and spend more time with their family

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MADE The Entrepreneur Festival: Sheffield

CALLING ALL CREATIVE ENTREPRENEURS Creative people with big business ideas are being targeted by Doug Richard, the serial entrepreneur and former Dragon >>

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

Learning to be a business success

Doug Richard – the US-born early stage investor, government advisor and philanthropist, who became known to millions of people in the UK through his appearances on the Dragons’ Den TV show – believes there has never been a better time for entrepreneurs with creative business ideas to turn them into reality.

And he’ll be telling delegates at MADE exactly why.

Doug, whose hugely successful School for Startups has taught more than 10,000 people in the UK and across Europe how to start and run their own businesses, believes opportunities for entrepreneurs are so great in the UK that demand is currently outstripping supply.

He said: “This country is now punching well above its weight and becoming a global centre for creativity and I think we are going to continue to see a rise in entrepreneurship in the creative sectors.

“I am talking about companies where the innovation is based in creativity rather than science or technology, such as fashion, where a new line of clothing clearly starts from a creative idea.

“Unfortunately a lot of people who are creative find it difficult to get started in the business world. One of the things that can hold people back is thinking that either you do creativity or you do business, but that’s simply not the case.”

Doug’s appearance at MADE is particularly timely as he’ll be launching his School for Creative Startups, an innovative one-year

As the School for Creative Startups opens its doors outside London for the first time, Heather Smith explains what’s in store for its first batch of would-be entrepreneurs.

A snail farmer, a cocktail mixologist and a naughty greetings card maker are among the early crop of enterprises to sprout out of the School for Creative Startups so far.

Now, a similarly eclectic stream of start-ups is expected from the course in Sheffield in the coming years.

And, with much of the course involving remote contact with mentors, and students encouraged to focus closely on their business, organisers believe it will attract budding entrepreneurs from far beyond South Yorkshire.

Heather Smith, college principal and executive director of Sheffield College - which will host the course - says: “We think it’s going to be a really good offer for the whole North of England initially, with only 12 days of the year actually spent at the college.”

But since creativity and entrepreneurship are two seemingly elusive powers to pin down and analyse, can a combination of the two really be taught?

“Absolutely,” says Smith. “You can teach people to be entrepreneurs, I don’t think it’s just the domain of people with a natural ability.

I think anyone can be encouraged to have the confidence and the ability to take risks. A lot of it is about confidence and believing in yourself.

“Also, stereotypically, people who might be naturally creative may not have the skills that enable them to do things in a very logical, systematic way – and that can be taught. So things like how to do business plans, marketing, evaluating your product and getting it to market can all be taught.

“Creative thinking can enable people to think of alternatives and to spot opportunities. We want them to have the courage to say things that might sound ridiculous initially, but if explored further could lead to a bright new idea. This is

This country is now punching well above its weight and becoming a global centre for creativity and I think we are going to continue to see a rise in entrepreneurship in the creative sectors programme for creative people with unique ideas wishing to start a successful new business, in Sheffield this autumn.

The programme aims to teach the critical skills that new creative businesses need to succeed and survive and to provide support to entrepreneurs throughout the vulnerable first year of business.

Topics covered include how to start a business, how to find investors, how to design great products and services, how to implement fast, cost-effective marketing strategies, how to build effective management teams and how to scale a business safely.

And Doug firmly believes the classroom is a great place for entrepreneurs to start.

He explained: “I will be talking at MADE about how entrepreneurs can be taught – it’s not just an innate quality.

“One of the things people often come to us and say is that they are afraid they are going to fail, and that is a rational fear.

“Our aim is to give people the skills they need so their competence and confidence start to rise and their fear of failure begins to drop.

“It’s about de-mystifying the things they are worried they don’t know how to do and teaching them how businesses work.”,

Apprenticeships are a cost-effective way of having someone you can train up and work with you and can ease the process for entrepreneurs of taking on their first employee

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MADE The Entrepreneur Festival: Sheffield

perhaps something that our current education system may have taught out of us.”

Although Sheffield College is heavily involved in young enterprise, the School for Creative Startups is not merely aimed at graduates or school leavers. Since the course launched in London three years ago, the average age of participants is 30 to 45 years old.

Nearly half (45%) were running an existing start-up, 28% were at concept stage and 27% were in the early stages of launching a start-up.

Smith says: “We’re expecting people of all ages to apply. It could be people looking for a change of lifestyle or who’ve been made redundant, or it’s those people who have had an idea but have never really made it happen because they’ve been stuck in a job or never been given the capabilities to develop it.”

The course may also tap into new trends which are changing the world of work.

”Increasingly people are operating as a freelance and that’s where business seems to be going.

When you consider the future of work, by 2034, for example, we could have more people using their creative skills to work for employers on a much more consultancy basis or freelance project basis. So people need to be able to adapt to that and move in different ways. So it’s also good for those people to know how to set up businesses and promote themselves.”

But the scheme is keen to encourage emerging entrepreneurs to create employment opportunities, rather than remaining as sole traders. And, says Smith, apprenticeships are the ideal first step on that journey.

“Apprenticeships are a cost-effective way of having someone you can train up and work with you and can ease the process for entrepreneurs of taking on their first employee.”

THE SCHOOL FOR CREATIVE STARTUPS IN SHEFFIELD STARTS IN OCTOBER AND REMAINS OPEN FOR APPLICATIONS. FOR MORE INFORMATION VISIT WWW.SCHOOLFORCREATIVESTARTUPS.COM

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MADE The Entrepreneur Festival: Sheffield

How we engineer ‘fast’ food

Making food and drink products is just as exciting as building fighter jets and F1 motors, argues Sheffield Hallam’s Andy Rawsthorne in an interview with Andrew Mernin

build the next fighter jet or work for Red Bull Racing. So food is often overlooked but when people realise what’s involved they can be really turned on to it.”

And in fact food may not be so different from the most alluring disciplines of the engineering game.

Just as F1 engineers are pressured to find infinitesimal gains in speed with every turn of their spanners, their food sector counterparts are locked in a similar unending race for increased velocity.

“People have this image of a big cauldron and a massive stirring spoon,” says Andy Rawsthorne, pondering the public perception of food engineering. “But it’s just not like that,” he adds.

The course leader of the UK’s only food engineering degree, at Sheffield Hallam University, instead sees a sector overrun with robots and driven by an unwavering push for faster, greener and more efficient production lines.

“When many young people get into engineering they want to

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MADE The Entrepreneur Festival: Sheffield

by WIER and Cambridge Econometrics suggested that 170,030 Consider the Coca-Cola factory where cans move so fast they can’t new recruits would have to be found into the food and drink be seen with the naked eye, or the mind-boggling speed at which manufacturing industry between 2010 and 2020. potatoes are converted into bags of Walkers crisps.

Making the skills shortage worse, are the lingering misconceptions And then there’s chocolate. about the industry.

“Chocolate is a complex fluid,” says Rawsthorne. “We actually use Rawsthorne says: “It’s considered by some to be very manual and the same knowledge we have about the engineering of an aeroplane very mucky and not a particularly nice working environment. and fluid flow over a wing to model how chocolate flows in a pipe,” That’s a total misconception. There are a lot of robotics, computer he says. controls, shiny touchscreens everywhere.”

“Generally a lot of youngsters have had this misconception about But as well as driving skills, Sheffield’s new centre of excellence will food engineering, but once they’ve been on a factory visit they also work to solve additional problems within industry. come back and say ‘wow that was amazing, I didn’t realise it was so “We’re in discussions with small companies looking at custom high tech’.” courses, at how they could improve production at these firms.

The academic’s CV, meanwhile, gives further evidence that food “We’re also looking at areas like energy reclamation. This is a big engineering is far more technologically advanced than the wider thing for sustainability. The industry requires water and energy in world gives it credit for. order to transport products and we’ve looked at how to recover The former industry man is an automation engineer and heat from various processes.You might reclaim the thermal ‘robotocist’ by trade – subjects which he continues to lecturer in at energy used in big commercial ovens to heat water to wash pots Sheffield Hallam today. for instance.”

This year saw the first intake of the MEng Food Engineering Rawsthorne says there is also a push to tap into the world’s growing course, which was shaped after lengthy consultation with industry awareness of the benefits of all representatives. While giving things organic and the dangers of students guaranteed placements some processed foods. within the food industry – the “There are areas we look at like UK’s biggest manufacturing sector crop efficiency but also how – the course also aims to cater we process food to maintain for the industry’s future, as well as • £92bn: Annual turnover of UK food and drink nutritional values. Using different pressing current needs. manufacturing sector proteins and temperatures, how can Sheffield Hallam is also going to • 7,000: Number of businesses in the sector we make sure that the processes we be the home of a new centre of • 400,000: People employed in the industry develop won’t damage nutritional excellence for food engineering.

• 170,300: Estimated number of new recruits required values and how do we know what The project, backed by £6.9m by the sector between 2010 and 2020 we’re doing is ethical but also in funding from the Higher sustainable? It’s about increasing Education Funding Council for nutritional value and reducing the amount of extra additives.”

England, will be fully operational by 2017.

Meanwhile, inspired by success stories like that of MADE speaker Its collaborators include the Food and Drink Federation, the Levi Roots, would-be entrepreneurs continue to flock to the food National Skills Academy for Food and Drink and industry players and drink sector – one of the few to register growth like Mars, Nestlé and Warburtons. during the recession.

The aim is to improve efficiency in food production and And food engineering training at Sheffield Hallam is interlinked manufacturing processes and address a growing skills shortage in with topics relevant to business leadership, like finance management the sector. and dealing with capital expenses, explains Rawsthorne. Hopefully, Given the level of innovation happening in the industry - alongside come the graduation of the first crop of food engineering students, its ageing workforce – it is perhaps clear to see why it is so hungry this will prove to be a recipe for success in the start-up world for new talent. going forward.

Last year the UK food and drink manufacturing sector invested over £350m in research and development, culminating in the creation of 16,000 new products.

This is an industry that employs over 400,000 workers with a combined annual turnover of £92bn and Gross Value Added of £24bn.

With the UK population on track to rise from its current level of 63 million to more than 71 million by 2030, the national appetite for new products will only intensify. In fact, estimates made in 2011

Food for thought

It’s considered by some to be very manual and very mucky and not a particularly nice working environment.

That’s a total misconception

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MADE The Entrepreneur Festival: Sheffield

My journey from Topman to main man >> Former high street clothing store assistant turned internet entrepreneur hopes his meteoric rise to fame |in the business world will inspire others

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MADE The Entrepreneur Festival: Sheffield

He may only be 23 years old, but Jamal Edwards has already launched his own business, become a self-made multi-millionaire and caught the eye of politicians, business leaders and even royalty The boy from a west London council estate, who once worked as a store assistant at Topman, has seen his youth broadcasting channel SB.TV amass millions of views on YouTube and catapult him onto the Sunday Times young power and rich lists.

And Jamal will be taking time out of his hectic schedule in September to tell young entrepreneurs at MADE how he did it – and how they can turn their big ideas into big successes too.

Jamal, who recently joined Princes William and Harry for the first royal ‘selfie’ at the launch of the Queen’s Young Leaders Programme, a search for inspirational young people making a difference in their communities, insists that becoming a successful entrepreneur is not simply about having a good idea.

He says: “I’ve met many great minds over the last few years and I have realised the world is full of incredible ideas.

“However, people often have great ideas but rarely think about how they are going to get them to the market from a practical point of view. They may know the demographic of who they want to connect with but people rarely think of the how – and this is the failure of tonnes of start-ups.

“I would say, give that as much thought as the actual business idea – each is as important as the other.”

Jamal was just a teenager when he began filming his friends rapping and singing with a cheap video camera and uploading the results to YouTube. From there he started to film up-andcoming and more established rappers and singers and soon realised the commercial potential of what had started as little more than a hobby.

Today he employs a team of five people at SB.TV and is currently

working on a new website alongside plans to diversify from his urban music roots into becoming a much broader youth lifestyle broadcaster.

He’s interviewed Prime Minister David Cameron and, as a winner of the Virgin Media Pioneers competition for the best and most innovative entrepreneurs in the UK, counts Sir Richard Branson as a friend.

But Jamal admits that his apparently meteoric rise to fame hasn’t always been plain-sailing and he has this warning for young people keen to follow in his golden footsteps: “If you are not ready for the knock backs then stay away from being an entrepreneur.

“It is full of let downs, stress and not much time to do other things.

“I remember when Drake first came to the UK and I had to persevere to get that interview. Now he is one of the biggest artists in the world and if I hadn’t been focused, dedicated, open-minded and most importantly, approachable, I would never have made that opportunity work for me.”

And Jamal – who describes himself as passionate, driven and a little bit eccentric – stresses that despite his huge success, his feet are still firmly on the ground. An ambassador for the Prince’s Trust, which supports young people to move into work, education and training, he is keen to use his fame and fortune to help the next generation to realise their full potential.

He says: “I really want to empower my generation to see the power digital can bring to them at an economic and sociological level.

“I want to find the Jamal Edwards’ from different areas in Britain and use the power of SB.TV to empower them to change their communities.”

I’ve met many great minds over the last few years and I have realised the world is full of incredible ideas. However, people often have great ideas but rarely think about how they are going to get them to the market from a practical point of view

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MADE The Entrepreneur Festival: Sheffield

Dare you step out into the unknown?

Want to make your business world famous? Read on as our crack team of export champions share their tips for success in foreign lands…

ONE STEP AT A TIME Julia Gash, founder of globally trading eco-cloth bag maker Bag It Don’t Bin It, says: “There is a world of opportunity for businesses but it’s a big place out there so focussing on your key market will ensure you can target your resources at the best opportunity that exists for your brand. Once you have established a foothold in your key market then you can tackle other countries or regions, one by one. Be patient, persevere, choose the right partners to work with and don’t spread yourself too thin! Rome wasn’t built

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MADE The Entrepreneur Festival: Sheffield

in a day and your business won’t be built in a day, week, year or probably even decade!”

for instance, and there is increasing demand from countries in the Middle East and Asia. However, the biggest factor preventing companies from looking to export is the fear of not knowing where to start and which markets to enter and not knowing how to make contact with importers abroad. They are reluctant to export because it is a big jump to make with a lot of uncertainties, from market knowledge and connections to getting paid. While lack of knowledge of new markets can seem daunting to UK businesses wanting to grow internationally, this is an obstacle that can be overcome with the right support. It is vital that UK businesses better understand the significant opportunities open to them >>

WHY FACES WIN FANS Gerry Abrahams, director of TWM Productions – which sells 90% of its child development projects to overseas markets – says: “While we have built many of those export markets reactively, when buyers have seen the product and wanted to buy it, faceto-face communication is far more effective. Trade shows are also great for marketing and promotion, and they definitely open doors, but nothing compares to a meaningful warm introduction. Trade missions can be hit or miss depending on who organises them but the best opportunities arise when the mission is a mix of trade organisations and supportive business organisations.

While lack of knowledge of new markets can seem daunting to UK businesses wanting to grow internationally, this is an obstacle that can be overcome

OPPORTUNITIES IN UNEXPECTED PLACES John Carroll, head of international, Santander Corporate & Commercial, says: “UK businesses need to take advantage of the opportunities available in new, existing and emerging markets.

Angola have broken into the top 50 UK trading partners this year,

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MADE The Entrepreneur Festival: Sheffield

very willing to share their experiences. This can help accelerate your own learning and work based on their recommendations.”

HOW HOMEWORK PAYS OFF Alex Trimnell, managing director of bike and car cleaning brand Muc-Off, says: “Early on we decided we wanted to grow our export sales so we threw ourselves in at the deep end by exhibiting at international trade fairs; this gave us some really exciting early [opportunities] and some great contacts. From this point we then wanted to really understand our customers and their markets so it was research, research, research before we started supplying any export markets. This was critical as any errors in legislation or supplying the wrong products to the wrong market would have been catastrophic to us in our early years.”

KNOWING WHICH MARKET TO HIT FIRST Lesley Batchelor OBE, director general of professional membership body the Institute of Export, says: “To decide which new market to enter, it is possible to follow a simple basic template.

Generally, as someone working in your particular industry, you will know what others are doing and what is working for them. If you don’t then, it’s a good idea to seek advice as this will probably give you a few options.

“Market research sounds dull and expensive, but the internet can greatly reduce costs and allow you to access the information you require, so researching your options makes sense. Initially it’s a question of desk research, looking at existing data. But remember: the data will have been generated for someone else, so you should treat it more as a guide than intelligence that is good enough to base a decision on.

“Once you’ve done your initial research, you’ll need to create a selection table that will rank the best countries to do business with.

You do this by assigning a weighting to the various factors involved - language, travel time for distribution, payment terms, and so on – according to the importance your company attaches to each factor.

“You then give each country a score for that factor, and multiply that score by the factor weighting; adding up all the resulting figures will produce a total score for each country, allowing you to rank your target markets. Always check any trade agreements that may affect final pricing in your target market. It is clearly important to know this information at the start of a project rather than to find it out halfway through.”

Julia Gash, founder of Bag It Don’t Bin It

and the success that can be achieved by exporting their goods and services abroad.”

BOOK YOUR FLIGHTS AND THE REST WILL FOLLOW Neil Douglas, managing director of Bristol-based Viper Subsea Technology, which supplies engineering products and services to the world’s offshore markets, says: “The best way to get information on specific countries prior to developing your export strategy is to go there. Get on a trade mission if you can as that helps you quickly get introductions to prospective clients, agents or representatives and also gets you good on-the-ground knowledge of how business operates in that country. As an alternative, there are likely to be lots of other companies that have gone down the export route to the export region of interest before you. They will have no doubt learnt lots of lessons themselves. Make some effort to find those companies who have undertaken those initial exploratory steps and, as long as they are not competitors, you should find some will be

Market research sounds dull and expensive, but the internet can greatly reduce costs and allow you to access the information you require

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Get inspired by the many faces of entrepreneurship At Elite Business, we’re passionate about championing new business. Providing fresh perspectives and representing disruptive solutions, we’re interested in the new generation of business that is helping to drive Britain forward.

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OFFICIAL MEDIA PARTNER

“ With tailored advice, I took my business to the next level” Andrew Ramroop OBE, CEO of Maurice Sedwell

Businesses can now get a range of bespoke advice from mentoring to exporting to finance.

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MADE The Entrepreneur Festival: Sheffield

From gran’s Glasgow kitchen to the world Successful businessman Fraser Doherty will be sharing his amazing sugarless jam story with delegates at MADE, he tells Steve Dyson

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MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

Still aged only 25, Fraser set up SuperJam just over a decade ago when he was only 14, using the jam-making recipes he’d learned from his gran, Susan, in her Glasgow kitchen.

After starting small, selling his produce at farmers’ markets and in local shops, he developed a method of producing jam 100 per cent from fruit, without sugar or additives, and successfully pitched his brand to supermarket giant Waitrose in 2009.

Today, SuperJam supplies more than 2,000 supermarkets around the world – with plans to soon launch into the huge Chinese market.

And Fraser’s business ventures, which also include two best-selling books, The SuperJam Cookbook and SuperBusiness, have won him and his company more than 20 national and international accolades and awards.

Fraser says he believes his story is relevant to anyone whether they have an idea for a new business, are just starting out or have a business which is already up and running.

He says: “I am really looking forward to sharing my story at MADE and talking about all the things I’ve learned along the way, including the mistakes I’ve made, the advice I’ve followed, the downs and the ups.

“I was very grateful that people seemed so happy and willing to share their advice and ideas with me when I started out and I would like to feel I can do the same for other entrepreneurs.”

Fraser says it is important for would-be entrepreneurs to seek advice from the right quarters. He admits that the lowest point of his career was when his jam was initially rejected by a buyer from Waitrose in 2007.

He says: “At that point, my family and friends were telling me to give up because they didn’t want to see me get hurt. But the lesson in that is that you need people who are going to give you honest advice which isn’t rooted in emotion.

“For me, that came from Waitrose who were able to tell me where I was going wrong so I could fix those things.

“It is also important not to be precious about any aspect of your idea so that you can take on board and respond to the feedback you receive.”

Eighteen months later, after also taking advice from the founders of companies like Innocent and Dorset Cereals, Fraser returned to Waitrose with simpler branding and a more saleable product.

He then became the youngest ever supplier to a major supermarket chain when Waitrose finally said ‘Yes!’ and agreed

to launch SuperJam in all 300 of their UK stores.

From there, SuperJam has been launched in countries including Australia, Korea and Japan, and Fraser currently has his sights set on the potentially giant Chinese market.

He says: “I am really excited about the opportunity which exists in China, where people don’t really eat jam at the moment, and for me that’s the whole point.

“For some people, starting a business is about making money and getting rich but for me it has always been about trying to make a living doing something I love and which I still find interesting and exciting, and for that reason, it doesn’t feel like work.

“I think my story shows that it is possible to start on a tiny scale in your kitchen or bedroom and turn something you like doing, a hobby or a passion, into something truly amazing.”

For some, starting a business is about making money but for me it has always been about trying to make a living doing something I love and still find interesting... it doesn’t feel like work

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WITH THE FSB, A SAFE HARBOUR AWAITS YOUR BUSINESS EVERYONE IN BUSINESS KNOWS THAT IT’S NOT ALWAYS PLAIN SAILING AND THAT CHOPPY WATERS ARE SOMETIMES WAITING TO THROW YOUR PLANS OFF COURSE. THERE ARE TIMES WHEN YOU’LL NEED TO FIND SHELTER AND SUPPORT, SO LET THE FSB BE A SAFE HARBOUR FOR YOUR BUSINESS At sea as in business, even when everything appears calm there are often hidden dangers laying in wait. The FSB is here to help by supporting the needs and promoting the cause of Britain’s small businesses.

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Ring FREE on 0808 20 20 888 for details www.fsb.org.uk

MADE The Entrepreneur Festival: Sheffield

How lucky is your business?

Why you shouldn’t leave everything to chance by Lee Perkins, MD of the Start-up and Small Business Division at Sage Steve Jobs once said: “It’s hard to tell with these Internet start-ups if they’re really interested in building companies or if they’re just interested in the money. I can tell you though… if they don’t really want to build a company, they won’t luck into it. That’s because it’s so hard that if you don’t have a passion, you’ll give up!”

So, how important is the role of luck in business success and can you make yourself ‘luckier’ if you prepare yourself properly?

According to recent research from our Sage One team, 72% of SMEs ‘do not believe in luck in business’. The study of more than 1,000 small business owners across the UK revealed that the majority believe they are ‘in total control of their firm’s destiny’, fully claiming responsibility for their positive results over the past year (74%). Furthermore, 60% of small businesses who had a bad financial year blamed a lack of planning not ‘bad luck’.

As the UK economy strengthens, one of the best ways to prepare yourself and your business for the future is to surround yourself with the best people, tools and support you can find. This is why events like MADE are so important, allowing new and aspiring entrepreneurs to learn from the experts including both the main stage speakers and small business champions like Brad Burton, Tina Boden and Tony Robinson OBE who are speaking at our free fringe event at Electric Works on Friday 26th September.

(See http://startyourbusinesswithsageone.eventbrite.com).

The MADE Festival exhibition hall is also full of industry experts whose job it is to help people start and grow their business, including our Sage One team who are there to show you how to save time and money by using our online service (which includes free 24hr telephone and email support) to manage your finances, or offer some one-to-one business advice.

It’s also good for experienced entrepreneurs and small business owners to give something back by spending time with new ones who are full of energy, enthusiasm and creative spark. This is why we’ve been sponsoring and supporting a range of start-up and small business events and initiatives including Thinking Digital, Makegood Festival, ignite100 (‘Europe’s first £1m tech accelerator programme) and the new Campus North co-working space in Newcastle. We’re also launching an exciting new mentoring programme at MADE. As Britain’s biggest small business software company (with over 830,000 customers in the UK and 6 million worldwide), we know a thing or two about what SMEs need to survive and grow. We’re on a mission to help more people start their own business and are using our Sage One service to pioneer a range of free and low-cost initiatives which you can find out about at http://uk.sageone.com/blog/

WE’D ALSO LOVE TO HEAR YOUR SUGGESTIONS FOR WHAT ELSE WE CAN DO SO PLEASE TWEET THEM TO US @SAGEUK INCLUDING THE #SAGEONE HASHTAG

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MADE The Entrepreneur Festival: Sheffield

A city worth exploring When you’re not networking or being inspired at MADE, why not check out some of Sheffield’s best visitor spots?

PEAK DISTRICT

As one of the UK’s fastest growing cities, Sheffield has undergone a dramatic transformation in recent years, resulting in a vibrant cosmopolitan destination.

The city, built over seven hills, encompasses an eclectic mix of architecture, where old intertwines with new to reflect the city’s rich industrial heritage alongside innovative design.

Having previously been awarded titles such as “Greenest” and “Friendliest” city, not to mention Beer Capital, Sheffield was most recently acknowledged as the Best Value City Break in the UK. Its impressive cultural credentials, theatres, sport and music venues, alongside a major annual events programme and strong business tourism profile, the city continues to attract an ever increasing number of visitors each year.

As an attendee of MADE Festival 2014, you may well be one of those people visiting Sheffield for the first time, so if you want to make the most of your stay, here’s a whistle-stop tour of some of the highlights the city has to offer.

An escape to the calm of the countryside and stunning scenery need only be a 15 minute journey from the bustle of the city centre, as over a third of the Sheffield city region lies within the Peak District National Park, offering a plethora of climbing, walking and cycling opportunities. Areas such as the idyllic village of High Bradfield were put in the international spotlight earlier this year when Sheffield hosted the Stage 2 Finish of the Tour de France’s Yorkshire Grand Départ. If you’re a cycling fan you may wish to retrace the route while you’re here. If not then you may prefer a visit to the globally renowned Chatsworth House, which is also within easy reach.

KELHAM ISLAND Having played a major part in the Industrial Revolution, Kelham Island Museum is one of the key attractions in understanding what made Sheffield great, showcasing inventions, heavy industry and intricate craftsmanship, all of which have influenced the city today.

Standing on a man-made island, the Museum is not only located in Sheffield’s industrial heartland, but also within the city’s beer crafting epicentre, which is quietly staking a claim to the UK’s Beer Capital title according to the New York Times. It would be rude not to check out some of the award-winning pubs such as the Kelham Island Tavern and Fat Cat, which are a mere stone’s throw away.

MILLENNIUM GALLERY Sheffield’s foremost art gallery is home to an impressive collection of permanent exhibitions in the Ruskin, Metalwork and Craft & Design galleries, as well as a regular calendar of touring national exhibits from the likes of the V&A, TATE and National Portrait Gallery. In particular the Metalwork Exhibition includes a glittering array of over 13,000 intricate tools, blades and beautiful artefacts showcasing Sheffield’s unique heritage and demonstrating why ‘Made in Sheffield’ continues to represent a protected trademark.

WINTER GARDEN & BOTANICAL GARDENS With more trees per person than any other European city, it’s not surprising that Sheffield’s cityscape is interspersed with urban oases, more than 50 magnificent Victorian parks and a host of historic woodland for visitors to stroll through. The city is also home to Europe’s largest temperate glasshouse the Winter Garden, one of Sheffield’s most iconic buildings and housing over 2,000 species of plants from all around the world, while the traditional Botanical Gardens, created in 1836, has an even more extensive collection across its glorious 19 acres.

SHEFFIELD THEATRES At the forefront of Sheffield’s cultural reputation, the award winning Sheffield Theatres offers the largest theatre complex outside of London, where West End musicals rub shoulders with cutting edge drama. In particular the Crucible Theatre, while renowned for its in-house productions, is by contrast perhaps most famous as the host venue for the World Snooker Championships played over April/May each year. If you fancy a theatre fix while in the city, the Crucible’s newest production, an adaption of Shakespeare’s Twelfth Night, will be running during the festival.

INDEPENDENT RETAIL If your idea of enjoyment leans more towards retail therapy, it’s

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MADE The Entrepreneur Festival: Sheffield

Curbar Edge, Peaks at Sheffield border

Kelham Island Industrial Musuem

Sheffield,Winter Gardens

worth taking a step away from the same old high street names to explore some of the city’s independent shopping districts such as the Antiques Quarter along Abbeydale Road, home of quirky vintage, Sharrow Vale Road a stylish stretch of local traders in a village setting, hipster heaven Division Street or Ecclesall Road, where designer fashion houses intermingle with some of the best bars and restaurants in the city.

inspired bar and kitchen. Marco Pierre White has recently seen fit to open one of his New York Italians in the city centre as part of the new Hampton by Hilton. The Milestone, Silversmiths, Graze Inn, The Old House and Thyme Café are just a few of the many eateries in and around the city centre, whose pride in local produce results in fantastic artisan menus.

SHEFFIELD AFTER HOURS

If your festival visit is limited to one day, this might not leave a whole lot of time for zipping around the city to check out all that Sheffield has to offer.

If you only get as far as Sheffield City Hall, then just take a few minutes to wander around this magnificent Grade 2 listed building, which many admire for its architecture, designed by the acclaimed Vincent E Harris.

When it’s not hosting MADE Festival, Sheffield City Hall operates as Sheffield’s premier concert venue with many legends having graced its stage and is one of the jewels in Sheffield’s excellent conferencing profile.

SHEFFIELD CITY HALL

A festival wouldn’t be a festival without a little celebration and across Sheffield there are a multitude of excellent restaurants and bars to indulge yourself in. Right on Sheffield City Hall’s doorstep, Leopold Square has a great selection of restaurants covering all manner of world cuisines. Again, just up from the City Hall, Division Street offers a parade of cool but relaxed independent bars. The Great Gatsby, in particular, is fully embracing the festival, renaming itself as The Entrepreneur’s Pub for MADE. Just beyond Division Street, the West One complex houses a mix of trendy bars and restaurants, its newest addition being Anchorage an East Coast

FOR MORE INFORMATION ABOUT SHEFFIELD VISIT WWW.WELCOMETOSHEFFIELD.CO.UK/VISIT 63 63

MADE The Entrepreneur Festival: Sheffield

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MADE The Entrepreneur Festival: Sheffield

Entertaining a global audience As the biggest distributor of TV content outside Hollywood, BBC Worldwide is a powerful force in selling Britain’s creative exports to the world. In an interview with Paul Dempsey, the organisation’s president of global markets, MADE magazine tunes into the Beeb’s approach to overseas markets MADE: JUST HOW BIG IS BBC WORLDWIDE’S GLOBAL FOOTPRINT?

WHICH TERRITORIES HAVE YOU IDENTIFIED AS HIGH GROWTH FOR THE ORGANISATION?

PD: We have 19 offices around the world and over 40 channel feeds in 123 territories. In total our channels have 173.3m subscribers around the world. Some of our most popular programmes include Doctor Who, Top Gear and Luther which have all sold to more than 200 territories. Our most successful format is Dancing with the Stars, the international version of Strictly Come Dancing, which has been sold to 51 countries.

As well as wanting to get closer to our customers, one of the reasons we re-organised the company 18 months ago was to maximise the opportunities presented by high growth markets. We successfully established four regional businesses: Western Europe, CEMA (Central and Eastern Europe, Middle East and Africa), Asia and Latin America, which we think of collectively as global markets and which represent an important source of future growth for the company. All of these markets saw growth in the last financial year and the outlook is positive.

WHICH OVERSEAS MARKETS ARE YOUR MOST LUCRATIVE?

WITH SO MUCH TO GO AT, HOW DO YOU PRIORITISE WHERE TO START?

The US is traditionally our strongest market with flourishing channels, sales and production businesses. Elsewhere across the world there are some markets that are strong for the sale of finished programmes, including France and Germany, while in others, like South Africa, channels are paramount.

Within these markets a lot of work has gone into identifying the biggest and most readily unlocked opportunities. That has enabled us to narrow 200 markets down to 10 high priorities where we >>

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MADE The Entrepreneur Festival: Sheffield

We have dedicated production offices in LA, Mumbai, Cologne and Paris who make their own versions of well-known British programmes as well as hugely successful original commissions. At the moment British formats are very popular in France with local versions of Dancing with the Stars, Bake Off, Sewing Bee, Antiques Road Show and Weakest Link all airing this year. Beyond our own productions, we also license shows to other producers. The Bake Off format, for example, has been sold to 13 countries.

GENERALLY WHAT DOES THE WORLD THINK OF BRITAIN’S CREATIVE EXPORTS RIGHT NOW? British TV is respected around the world for its high quality, depth and range. The acting and writing talent we have in this country is second to none and our technical ability is worldleading.You only have to look at our natural history landmarks or dramas of the quality of Sherlock to see why BBC Worldwide is in a privileged position to be taking content of this quality to the rest of the world. The figures speak for themselves. According to PACT, the independent TV production body, the UK is the second largest exporter of television in the world by hours behind the United States. As a broader sector, DCMS figures show that the UK exported £15.5bn of creative industries services in 2011, helping the sector to generate £8m an hour for the UK economy.

HOW DO YOU AIM TO TAP INTO THE GROWING DEMAND FOR ONLINE CONTENT?

Paul Dempsey

We have embraced the opportunities offered by digital providers and work with a number of online platforms, alongside the more traditional broadcasters. To this end we have deals with Netflix, Hula, Amazon, Blink Box, iTunes and also regional digital platforms such as Youku in China, where over 70m people have viewed Sherlock Series 3. Demand is certainly growing: in the North American market, for example, last year BBC Worldwide’s Video-On-Demand and Download-To-Own sales were up 36.7% year on year in local currency. Sometimes we will co-produce or co-commission content with a digital platform – for example The Wrong Mans Series 1 was a co-production between BBC and Hula, and Ripper Street Series 3 is a Tiger Aspect and Lookout Point production for BBC AMERICA and Amazon.

will seek to gain a deep understanding of how local consumers interact with our brand and content. In that way we can tailor ourselves to local needs.

HOW DO YOU INTEND TO GROW THESE MARKETS FURTHER? We plan to build on the strong foundations of last year by taking our content to an even wider audience. We recently announced the creation of three new BBC Worldwide brands, BBC First, BBC Brit and BBC Earth – drama, factual entertainment and premium factual brands respectively, which will help audiences find and enjoy our shows. In addition to this major initiative we are also investing heavily in content (£200m in the last year) and in our global sales teams to ensure we continue to lead the field both in the quality of our content and the quality of our service.

British TV is respected around the world for its high quality, depth and range.

The acting and writing talent we have in this country is second to none and our technical ability is world-leading

IS THERE STRONG DEMAND FOR LOCALISED VERSIONS OF EXISTING PRODUCTS LIKE A CERTAIN CAKE-MAKING SHOW, FOR EXAMPLE? It is interesting to see that viewers often have a closer connection with contestants from their own countries but not at the expense of seeing contestants from other parts of the world – the global success of Australian Come Dine With Me is a good example. The best of both worlds can be to make localised versions of hit shows.

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