YCEOM Issue 1 by Young CEO Monthly

YOUNG

CEOMONTHLY 1

ISSUE 1 | FREE

SPORTS IS FUN IN MOTION

INTERVIEW WITH

Caric James & Julious Joseph Two young men with their fun and award winning Sports Academy

Foreword 3 EDITORIAL

ed@youngceomonthly.com Produced by: CEO Monthly Publications Design: GB Designs

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elcome to the very 1st Edition of Young CEO Monthly, the magazine that aims to bring young known and especially un-known business owners from the age of 16-30 to the attention of the public. Firstly I would like to thank you for taking time out of your busy schedule to read through our simple magazine. The mission of our publication is to make ou the reader aware of the various young and vibrant businesses that are currently in operation across the UK and the rest of the World started by ambitious young men and women.

Young CEO Monthly is published by CEO Monthly Publications. Opinions and views expressed do not necessarily reflect CEOMP policy. CEOMP accepts no responsibilty for views expressed by contributors. Advertisements and reader offers are not endorsed by CEOMP.

We hope that through reading the various inspiring stories of these young entrepreneurs we shall feature, you will also be inspired to go on an entrepreneurial journey and above all share these stories with your friends and family.

George Boateng Editor

Quote

of the

Month

“Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” Conrad Hilton Founder of Hilton Hotels

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Content Page 3 – Foreword Page 4 – Cover Story Page 7 – Business Advice of the Month Page 9 – CEO/Company Profile Page 10 – Classifieds Page11 – Reflections

4 Cover Story

Sports is fun in motion W it?

hat inspired you to start your plus the cohesion, social element and business and when did you start togetherness it brings between the people that take part in our sessions.

Julious & Caric: We started PESA in July 2011. It was inspired through the experience that we gained working in the sports field for a good couple of years. We wanted to give back the skills we learnt and developed, with the aim to make a positive health beneficial impact in the life of individuals, regardless of age or background.

What three areas do you focus most on in your business?

What was your background before starting your business(s)?

What is your work ethic like?

Julious: I used to play football on a semi- professional level with the aim of becoming professional but that vision changed in me moving into sports coaching as I wanted to be involved in the more technical side of sports.

Both: 1. Marketing through social media 2. Maintaining a professional attitude business and sports wise 3. Making our sessions fun and social to make them feel involved

Both: As the company grows we always want to make sure that we are hands on in the business. If an investor wanted to invest in your business what would they be investing in?

Caric: My mum used to be a PE Teacher and my dad was a sports coach, so from an early age I was always surrounded and involved with various sporting activities from football, cricket and many others. That influenced me a lot so as I grew up it was inevitable that I was going to be involved with sports as well.

Both: They would be investing in a company and people that want to provide various fitness and sporting opportunities to young people and adults that will help them attain more than just health conscious goals but where they will also be able to achieve character building goals.

Caric: The best thing for me is to see the successful progress of an individual who takes part in our fitness and sports sessions. Julious: For me itâ&#x20AC;&#x2122;s the same as Caric

Julious: Business wise being voted Youth Project of the Year and Sporting Team of the Year in Islington in 2012 as it reflected all the hard work we put in since we started in July 2011. In

What would you consider your main What do you find to be the best thing achievement so far in your business about the industry your business is in? and personal life?

terms of personal life is moving from when you don’t feel like it. an employee status to now running a profitable and steady growing These are 3 points that can also be company. applied in your personal life. Caric: From starting off with holding sessions in Finsbury Park with absolutely no equipment to now holding sessions across various centres in Islington with equipment and then being voted for the awards Julious mentioned, I find in itself a pretty good achievement for us as a business and as well for me personally. Where do you see yourself and your business in 10 years’ time? Both: To have a PESA sports centre, operating across all boroughs of London and some parts of the UK.

in yourself and “ Believe what you’re doing ” Caric James, 21

What is your #1 advice to another young person thinking about starting their own business? Julious: To be 100% sure they want to start a business and have a business plan to help them achieve their goals. Caric: Faith – Believe in yourself and what you’re doing Consistency - To keep applying yourself in your business and keep focused on your goals Hard Work: Is to put in that extra effort to help you achieve your goal even

sure you want “ Be to100% start a business ” Julious Joseph, 22 To contact PESA: +44 (0)7904 013 863 pesasports@hotmail.co.uk Website: www.pesasports.com

6 Business Advice of the Month

3 questions you need to answer honestly before jumping into entrepreneurship by Dana Brownlee | President of Professionalism Matters, Inc.

veryone has at least once in their life had a million-dollar idea. The tricky part is deciding if this idea actually has legs and could be a viable business. As a small-business owner for a decade, I’ve identified three crucial questions to ask yourself to help decide whether or not the concept is worth pursuing. These questions can help scope what I like to call “The Success Triangle,” an approach to help budding entrepreneurs decide whether to pull the trigger on that small business idea. 1. Concept: Is it a good idea? Let’s start with the obvious. Not every idea is a good one and just because your mom thinks it’s great doesn’t mean it is. Too many of us suffer from the “if we build it, they will come” mentality which can be equally tempting and dangerous. Just because you are obsessed with your dogs and think the world is clamouring for the introduction of canine teeth whitening pens doesn’t mean it will be a hit. It’s easy for something to seem like a great idea initially but several key questions should be asked to help determine whether the idea is truly solid: • • • • • •

Is there a need? How significant is the need? How much competition currently exists in this space? How large is your potential customer base? Do you have a unique ability to provide this product/service? Do you have experience/passion in this area? Are there trends in the marketplace/industry that might make my produce/ service more or less attractive going forward?

2. Execution: How Well Can You Execute the Concept? While it’s great to have a solid business idea, it’s quite another thing to execute it well. Your idea about selling doggie teeth whitening might be a viable concept that the marketplace needs, but how well can you execute it? How do you manufacture the product? How well does it work? How easily is it applied? How do you market and deliver the product? These questions and others are critical issues to consider when contemplating how well your business idea scores on execution: • How will you provide great customer service? • What is the quality level of your product/service? • How efficiently can you produce your product/service?

• What is your time to market? • How is your product/service produced? Fulfilled? • How easy/difficult is it to market the product? 3. Profitability: Is Your Business Model Profitable? Unless you’re starting a non-profit, most entrepreneurs are hoping to be profitable. (If you’re not managing your profit levels, you won’t be around very long most likely.) As part of this analysis, it’s important to evaluate your overall business model. For your dog whitening product, you should consider your pricing structure. Are you selling whitening pens individually or in bulk? Are you only selling pens or also providing a whitening service? Where will you sell: online, through vets and spas or at retailers? Consider these questions to help evaluate your business model and profit potential: • • • • • • • •

What is your cost structure? What are your expenses? How much does it “cost” to gain a client? What is the anticipated demand (quantified)? How will you sell? Online, brick and mortar, using party concept, through resellers? Are you focused on B2B or B2C selling? Are you selling to individuals or groups? Bulk or individual products? Are you using a franchise model? Are you selling products, services or both?

These questions aren’t a substitute for developing a thorough business plan, but they act as a simple guide to help the budding entrepreneur begin that critical vetting process.

Business / CEO Profile 9

From penniless to business empire D

uncan Walker Bannatyne, OBE (born 2 February 1949) is a Scottish philanthropist, author and self-made millionaire / entrepreneur. His business interests include Health Clubs, Hotels, Media, TV, Stage Schools, Property and Transport. He most famous for my appearances as a business angel on the BBC programme Dragons’ Den. Born in 1949 in the town of Clydebank, he was raised in relatively modest circumstances. His mother told him that she could not afford to buy him a bicycle, so he asked the local newsagents if he could start a paper round; told Picture: patrickgosling.com that he would need a list of 100 potential customers, he painstakingly knocked on many doors and eventually drew up a list of 100 names and addresses. He got the job, bought a bike and never looked back. In school he only enjoyed PE and woodwork at and left at 15 without any qualifications. After a stint in the Navy, he moved to Jersey, and then to Stockton-on-Tees in the North East. Aged 30, penniless with no bank account, it was there that his business career began. He made some money from round-the-clock shifts in an industrial bakery and bar jobs he then bought an ice cream van for £450; he soon expanded by buying more vans and eventually sold the business for £28,000 and then founding a care home business named Quality Care Homes. Quality Care Homes was sold for £26 million in 1996 and another business, children’s nursery chain Just Learning, for £22 million. He has since branched into Health Clubs, with the popular Bannatyne’s Health Clubs chain, and also bars, hotels and property. They have acquired 26 Health Clubs from Hilton Hotels back in August 2006, which made them the largest independent chain of Health Clubs in the United Kingdom. In October 2008, in defiance of the credit, crunch he opened the £12 million Bannatyne Spa Hotel in Hastings and also revamped the spa chain. Despite having spent 9 months in a military detention centre, a spell in prison and gone through a costly divorce he today has an estimated and growing net worth of £175 million. He was honoured with the Order of the British Empire for his contribution to charity and he supports many good causes, especially for children. Furthermore he is also heavily involved with Comic Relief and UNICEF, and is a passionate anti-smoking campaigner. Adapted from www.bannatyne.co.uk & www.grant-thornton.co.uk

10 Classified

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Time To Reflect 11

Extraordinary by Victor Azubuike

o you remember the times when we thought we could change the world? When life revolved around us breaking the mould? But somewhere along the line we decided to fold We put our ambition to the side and decided to hide In a place that left our dreams to grow cold. You see, within our domain there’s always room for change to manoeuvre But Physics tells us that a movement can never occur unless there’s a mover So if there’s no change in the world that’s local to you Then that’s because you’ve resisted the change, that only you could have brought through I was at the barbershop a few days ago, when a woman walked in and started grinding on a man Saw a little girl replicate the action in the mirror, thinking how she can understand But that’s the thing Little girl can be whatever she wants to be But it’s what she sees that formulates her reality So when you dream, do you close your eyes or do you cry? Close your eyes lift your hands and believe you can actually fly Or do tears drop from your face, with the recognition that you’ve let your dreams die Benjamin Franklin once said: Most men die at 25 We just don’t bury them until they are 70 I know you young people, the potential is so real, and we’ve got the pedigree So don’t listen to the naysayers, it’s about time we defy the odds The record books will have to be re-written if our ideas don’t stop We’re not ordinary people, so we don’t have time to take it slow We’re extraordinary and it’s about time it shows.