Do business mistakes make us stronger? Business tips for success from famous entrepreneurs

WorkWell on August 7, 2016

“Sometimes when you innovate, you make mistakes. It’s best to admit them quickly and get on with improving your other innovations.” – Steve Jobs.

We all make mistakes; it’s part of life. The key to moving forward is learning from them and changing our approach so that we increase our chances of future success.

Business tips for success: Chris Spencer, CEO of EMIS Group, will be giving a business advice talk at Carrwood Park on 19th July 2016 on overcoming business challenges and learning from mistakes, as part of our Connect Gazelles programme of events. Find out more by clicking on the link below.

The famous entrepreneurs below learned from their business mistakes to achieve later success.

Read on to find out how mistakes in business can shape us as business leaders and bring future success.

Henry Ford and his business blunders

Henry Ford is a name synonymous with global business success. But even one of the world’s most successful entrepreneurs led a number of failed business ventures before hitting the big time.

In 1901, Ford’s first business venture, the Detroit Automobile Company, went bankrupt. Low quality products combined with above market-rate prices provided the ultimate recipe for business failure.

Intent on not giving up, Ford reinvented his first company and gave it a new name – the Henry Ford Company. However, this venture also collapsed due to a dispute Ford had with a business partner.

Even the resolute entrepreneur’s third company was destined to go down the same route of failure, principally due to low sale figure.

It was only thanks to the help of an angel investor that Henry Ford was finally given another chance to shine. The Ford Motor Company was rescued and went on to become one of the biggest symbols of business success.

Richard Branson and his start-up stumble

With more than 8 million followers on LinkedIn, Branson is hailed as the most popular entrepreneur in the world. But even he isn’t immune to making mistakes – Branson’s early career start-ups were beset with mistakes, problems and setbacks.

His first business venture, a student magazine, saw the entrepreneur get arrested for breaking laws that prohibited publishing advice on remedies for venereal disease. His second venture, Virgin Records Shop, didn’t fare much better, being hit with cash-flow problems. According to Real Business, Branson even pretended to buy records for export in order to avoid paying excise tax on sales!

Even Branson’s Virgin Atlantic venture didn’t run smoothly. During the company’s early days in the 1980s, a bird flew into an uninsured plane engine during a government certification flight, resulting in an explosion.

But as we’ve seen, Branson took everything on the chin and learned from his mistakes. The CEO of the Virgin Group now has a net worth of approximately $5.1 billion!

So, how do business mistakes make us stronger?

(1) Tenacity 

The valuable learning experience that mistakes give can help make us stronger and wiser in the long run. The key is to keep trying and not give up.

As Henry Ford proved, tenacity is a valuable quality for business success. If at first you don’t succeed… try, try and try again!

(2) Problem-solving proficiency 

The most successful entrepreneurs and business owners are proficient in finding solutions to problems and setbacks.

CPA Australia CEO, Alex Malley, believes mistakes make you stronger and smarter:

“Taking a moment to solve the problem, or at least making an effort to do so, will garner you a lot more respect from your manager and colleagues. Think through the issue rationally and objectively. Ask yourself: What caused the mistake? Who will need to be made aware of it? And what is a potential solution?”

Mistakes develop our solution-finding skills, as they force us to seek out better alternatives.

(3) Courage and accountability

Overcoming mistakes helps us to fear them less and face them with courage. Having the courage to step up and be accountable is a key trait of a great business leader.

(4) Composure under pressure 

The most successful business people remain calm in a crisis. Composure under pressure is one of the key symbols in business proficiency. Repeated exposure to high stakes decision-making (and dealing with the occasional big mistake as a result) brings valuable business experience.

Experienced business leaders are then able to avoid making rash and impulsive decisions and instead find a solution or change direction. They take the time for emotions to subside and to rationally think about the situation and how to remedy it successfully.

Learn more about this topic at this month’s Connect Gazelles masterclass at Carrwood Park:

Chris Spencer, CEO of EMIS Group (UK leaders in healthcare software and services), is no stranger to business challenges and the experience they can bring.

Chris Spencer masterclass: ‘What doesn’t kill us makes us stronger’

On 19th July, Chris Spencer will be giving a masterclass related to how business mistakes can make us stronger. This free event explores how we learn from the challenges we have to overcome.

Chris Spencer will look at how EMIS Group has had to face many challenges. Since becoming CEO for EMIS Group in 2013, the company has seen its net profits increase from £20 million in December 2012 to £32 million in December 2014.

The event is taking place at Carrwood Park on 19 July 2016 from 17:30 until 20:00.

For more help in Leeds for business owners, ask about other WorkWell business networking events in Leeds.

WorkWell on the outskirts of Leeds provides stylish, comfortable, modern and well-facilitated meeting rooms for hire in Leeds.

To help improve the image of your business through quality serviced offices in Leeds, get in touch with the team at Carrwood Park to book a viewing.

8 reasons we’re proud to be based in Yorkshire

WorkWell on May 8, 2016

 This week, everyone has been talking about #YorkshireDay

From the stunning Yorkshire Dales, a haven for walkers and nature enthusiasts, to vibrant and historical cities like Leeds, York and Sheffield, it’s easy to see why millions visit the scenic and culturally diverse Yorkshire region every year.

In fact, according to the latest tourist figures, more British holidaymakers visit the North Yorkshire coast than any other part of the UK, outside of London.

As a Yorkshire business centre offering venues for meetings on the outskirts of Leeds, as well as picturesque (but easily motorway accessible) away day locations in Yorkshire, WorkWell is proud to be based in this fine region.

Here are just some of the reasons why we’re proud to be based in Yorkshire.

1. Yorkshire’s sporting heritage

Yorkshire has an extremely proud sporting heritage and rightly so. From cycling and the Tour de France, to rugby, football and cricket, a diverse range of sports are closely associated with Yorkshire. Such is the county fine record for nurturing the best sporting talent, that many Olympians and other household names in sport are from Yorkshire – Jessica Ennis, Nicola Adams and Alistair Brownlee to name just three. We even came 12th in the London 2012 Olympics medal table!

And Yorkshire’s sports fans are equally as heroic, coming out onto the terraces and streets to support and cheer on our teams, come rain or shine.

Follow Tour de Yorkshire 2017 updates here.

2. A Yorkshire Day to remember!

What other county has a day dedicated to it that’s as unique, memorable and well-visited as Yorkshire Day? This eagerly awaited day on Yorkshire’s bursting annual cultural events calendar promotes the rich and vibrant history of Yorkshire. From black puddings to flat caps, Yorkshire Day celebrates everything that gives Yorkshire its uniqueness.

This year’s Yorkshire Day took place on Monday 1st August. Celebrations and events took place throughout the region. But Halifax was chosen to lead the celebrations this year and was the official host for Yorkshire Day 2016.

Coun Ann Martin, Mayor of Calderdale, accurately summed up the essence of Yorkshire Day:

“Yorkshire people quite rightly have a lot of pride in their county, and Yorkshire Day gives everyone a chance to demonstrate this.”

3. Yorkshire Tea!

Yorkshire meeting venues like WorkWell understand more than most the importance of a decent brew and regular tea breaks throughout the working day. And we have to admit, Yorkshire certainly makes a superior brew!

As the Metro writes about the best-tasting tea in the world:

“If it’s not Yorkshire Tea, then it’s not worth drinking.”

4. Business is booming in Yorkshire

It’s no secret that Leeds is the UK’s largest city for financial and business services outside of London. Such is Leeds’ prominence as a thriving business centre that it is the UK’s fastest growing city with the second largest employment levels outside London. And it’s not just Leeds that is enjoying escalating business growth. All around the county, business is booming. Take the market town of Malton, for example, in North Yorkshire. With a growing number of businesses opting to trade in Malton, as the York Press writes, “Malton is bucking the national trend.”

5. A truly unique culture

As the zest and individuality of Yorkshire Day prove, Yorkshire is like no other in terms of culture. From Leeds Art Gallery to the Yorkshire Dales National Park, Bolton Castle to Yorkshire Sculpture Park, this vast and varied county is brimming with fabulous and culturally invigorating days out for everyone, all year round.

6. Steeped in history

As rich is Yorkshire’s culture, so is its heritage. From the Romans’ defeats to the Vikings’ invasion, Yorkshire is brimming with a long and lustrous history, one that is proudly portrayed through the many historical places to visit throughout the county, such as the Royal Armouries in Leeds and Bradford’s 12th-century Bolton Abbey.

7. Fabulous food and drink

We’ve already mentioned the tea, but when it comes to Yorkshire culinary delights, there’s plenty more to get your teeth stuck into! The infamous Yorkshire pudding immediately springs to mind, alongside the many legendary ales that are brewed here in Yorkshire. Yes, if you’re a self-confessed foodie, you certainly won’t go home disappointed after spending time in Yorkshire!

8. A truly happy place to live, work, study and play

One of the biggest reasons the WorkWell team is proud to be based in Yorkshire is the fact that our county is such a happy place to live, work, study and play. In fact, we Yorkshire folk have, in recent years, been voted the happiest people in the UK. A national survey people Mintel’s annual British lifestyles poll in 2011, found Yorkshire to be the happiest county in Britain.

“Yorkshire-dwellers’ happiness stems from the county’s abundance of open spaces,” said the Mintel survey.

Looking for a Yorkshire business centre to make your new business home? Or maybe you’re looking for Yorkshire meeting venues that showcase the best this county has to offer?

WorkWell is a Grade A business park, with stylish, comfortable, modern and well-facilitated office and meeting room space for hire in both Leeds and Harrogate.

If you’d like to see what Yorkshire has to offer businesses, get in touch with us today!

Online Branding: Do you need a Website?

WorkWell on February 5, 2016

Did you know that in 2025, Britons were found to spend up to 8.8% of their annual income, which works out at approximately £64 per week. An analysis conducted by Public Desire found the average spend per year is £3,328. With more and more of us reaching to the geographically boundary-free world of the internet to do our shopping, read reviews, read the news, book flights, watch television, download music, chat to friends, conduct business, and the myriad of other tasks you can carry out conveniently and leisurely online, it stands to reason that every business needs a website, right? Not necessarily.

In the final part of this series, we will ask… Do you even need a website? It sounds controversial, but in our last article about consistency across the web, we listed a host of channels that any business seeking success is likely to need to set up and populate. That takes time – a lot more time than you think. So, before you rush to add your website to the to-do list, it’s good to take a moment and ask… Do you really need one?

It sounds shocking, doesn’t it? And depending on your industry, it might be a non-starter, but more and more often I’m sitting down with SME’s, who think their websites are doing well and bringing in new business, but when I look at the analytics, it tells a different story.

‘What? You mean they are not reading the lengthy pages of copy and images that I have painstakingly prepared? No, sorry.

Google is more than a Search Engine.

Google is changing, and more and more information is being served to the searcher in the Google results page rather than requiring another click to a website. Try searching for trains from one city to another, and the results appear right there in front of you in the search results. Now try finding out the exchange rate for ‘$500’ – same results again.

So, for the business above, if they allow their contact details to be served in the search results, then do they even need a website? It’s this realisation that can save a business a lot of money (and time) – especially when starting up.

Still think you need a Website?

Maybe not having a web presence is too radical for you, and I can understand why you feel this way. However, if you’re planning on a new website or update to your existing website then take this opportunity to at least simplify your website requirements and consider that every page needs a purpose, this approach alone will save you time and money.

Look at the Analytics

If you already have a site, then take a look at the analytics to help you figure out and learn more about how people are using your site.

Analytics is the data to shows how people are using your website. Google Analytics is a free tool – hopefully you know exactly what this is and you’re using it – if not, and you have a website, get it installed ASAP.

When you start to look at this data, you can learn so much. It can inform you about where your visitors are coming from:

  • Organic – being found in search engines
  • Direct – people typing the URL in the browser
  • Social – people coming from your social media channels
  • Paid – visitors who have clicked a link or adverts that you have paid for.

Organic and Direct

Let’s concentrate on the first two in that list; organic is actually direct. Organic is usually the biggest driver of traffic; therefore, the business owner often thinks that their website is vital for them and is doing really well in search.

However, when we look into it further, the organic traffic that is coming to the site is mainly searching for the business name, which isn’t actually organic traffic as such, but direct traffic. We are changing the way we use browsers, and Google and co are playing a massive role in this. Just typing a name in the URL area causes a search. For example, I visit the BBC website probably every day and yet I still search on Google ‘BBC’. And I’m not alone in doing this, as the stats show.

Pages being Viewed

If we take a closer look at the pages actually being viewed chances are you will fall into the category of most non-ecommerce websites where actually the pages being viewed are the homepage, the about us page (or pricing page) and then the contact us page, and that’s if your website is working for you.

This tells me, and the business owners, that all the visitor wants is to find out how to contact your business. More than that the the visitor is actually finding the website by searching the business name – hence the website isn’t actually attracting new customers, but just helping those who already know you.

How do you use the Web?

If you go through the same process as above, don’t worry. Like the preferred end of any relationship, ‘it’s not you, it’s them’. Things have changed. Search is still changing. If you think about how you are using the web, you are probably changing too. Excluding buying a product online, when was the last time you spent any time on the website of a business you want something from – price, trust, contact, and you’re done!

Ensure your Website doesn’t encourage people to leave as soon as they’ve clicked on it!

It’s all very well saying if a website doesn’t appear on page one of Google it might not well exist, but if it is bursting with elements that make visitors leave in a hurry before they have even had a chance to digest what the site is all about, you may as well not have one, right?

There are plenty of reasons people hastily leave a website, such as being bombarded with highly annoying auto-sound that can drive us nuts, being faced with popups – the sooner we see them the sooner we leave -, slow load times, if it doesn’t load up almost instantly, the impatient digital generation are likely to look elsewhere! And finally, if a website is difficult to navigate, prioritises ads over content, is laden with typos and poorly written content, and is cluttered with cookies, ask yourself – if people are likely to leave it no sooner have they arrived, is it really worth the bother of having a website in the first place?

Key points to consider

So, if at this point you still strongly believe that you need a website, then please at least take the following from reading this article:

  • Get something that meets your needs, as less is more
  • Evolve it along with your business over time.
  • Ensure it is designed and written to a high quality and does not include any annoying traits that make visitors hurriedly click on the cross to get rid of it!

I’m a digital marketing consultant and I’m yet to sort my own website out – a bit like a plumber with a leaky tap at home – however I don’t need more clients right now – but in the future I will and my website could be vital – I too will fall into the trap of over thinking it, over engineering it and I will most probably end up with something taking much longer and costing much more than what I actually needed.

I will make a note now to re-read this again when I come to the planning stage.

Thanks for listening, I hope you found this useful. If you missed any of my other blogs in this series, read them here…

One Voice: Consistency of your branding online

The Impact of Branding in Business: Colours and Symbols

Creating a brand within a budget: Professional doesn’t always mean expensive

 About the author:

      Simon McCaskill is a digital marketing specialist and the man behind ‘Bear and Fly’. Simon also works for Google as part of their dedicated digital outreach team.

Digital marketing can be confusing and frustrating, and it shouldn’t be. Bear and Fly’s approach is all about working with you, the client, taking you step by step through the processes so you feel more comfortable with how you are marketing your business online.

@bearflydigitallinkedin.com/in/simonmccaskill

Spring Reset: Declutter, upgrade and optimise your business

WorkWell on September 3, 2015

This is a holistic guide for business owners to better balance business strategy with employee well-being and workspace organisation.  This optimistic time of year when new life emerges and the sun finally begins to shine can be a great time, not only to spring clean your home, but to spring clean your business.

From trading dusty accounting books with a more sophisticated system to rearranging filing cabinets in a more coherent manner, now’s the time to organise your workspace and enhance employee happiness, well-being and motivation by implementing to following office spring cleaning tips.

Revitalising business operations

Evaluating your marketing strategy

Are your current marketing practices cost-effective? Are they bringing you the Return On Investment you are aspiring? Or perhaps you stand guilty of lamely neglecting marketing and need to start from scratch? Whatever your marketing qualms are, now is the time to rethink a more comprehensive, cost-effective and powerful marketing approach.

For example, do you currently have a content marketing regime in place? According to the Content Marketing Institute, nine out of 10 B-to-B marketers are actively engaged in content marketing, regardless of their type and size of business. Presenting engaging content and repurposing existing content across new platforms can be a cost-effective way to reach out to multiple-selling environments, such as websites, social media, press releases, and company brochures.

Battling on in the dark won’t heighten your brand’s identity – Get your message out there through valuable and engaging content.

Upgrading your accounting and finance systems

It is not uncommon for small businesses to waste valuable time battling with accounting systems that are not capable of dealing with information and data efficiently.

With the new tax year around the corner, it could prove provident to update the business’s accounting processes. You might want to consider moving your accounts into the cloud. As Tech Radar advises, moving accounts away from traditional desktop software to cloud solutions can give small business owners greater flexibility to deal with invoices and keep on top of cash flow.

Updating software and cybersecurity

If you’ve not already got an adequate firewall in place to help protect company data and cloud servers, now might be a good time to install data protection software to ensure company data remains protected and out of the hands of cybercriminals.

Decluttering your workspace and energising the office atmosphere

Decluttering, organising and filing

A cluttered desk with paperwork scattered between half-drank coffee cups does not do your mental well-being at work any favours. In fact, one study shows that physical clutter negatively affects our ability to focus and process information.

By contrast, a clear and uncluttered desk creates feelings of calm, making us feel more driven and motivated to take on the tasks that lie ahead. One of the quickest and most effective ways to spring clean the office for workplace motivation is to simply declutter your desk.

Having a clean office, an orderly filing system and neat and tidy drawers and cupboards is likely to boost staff morale, not to mention your own sanity!

Brightening the office

An office that’s airy and bright, with swathes of natural daylight filtering into the room, which boasts a contemporary design infused by stylish and comfortable furniture and fittings, a vibrant colour scheme and plenty of visual stimulation, will go a long way in augmenting employee motivation.

Alternatively, it might be easier to move into office space that already ticks the motivational-boosting checklist, that’s stylish, bright and airy with plenty of ‘third places’ and an open-plan design, which encourages collaboration and banter. If that’s the case, WorkWell’s serviced offices in Leeds and Harrogate