In this episode, I interview Nigel Brooks to discuss about his transition from the corporate world to building a brick and mortar business.
As a case study, we review how he built his cafe and catering business that he sold in 2000. He had at peak 20 employees.
Nigel is an entrepreneur and a management consultant who started his first entrepreneurial venture when he was 15 years old.
He shares with us about the importance of creating a business plan and the challenges related to owning a retail business.
- [00:20] A brick and mortar business as a case study
- [00:25] Introducing Nigel Brooks
- [02:24] Nigel presenting his background
- [02:40] When he considered himself as an entrepreneur
- [03:20] Entrepreneurial mindset in the corporate world
- [03:57] Leaving American Express to start a coffee and catering business
- [05:50] How did you manage your time between your work and your venture?
- [06:14] How long did it take to write a business plan?
- [07:11] How much time should we spend on the business plan?
- [08:34] What should we consider when creating a business plan?
- [09:33] What about a one-page business plan?
- [11:09] How did you get the idea about starting a retail business?
- [13:41] Skills needed to start a business vs passion
- [15:56] How to stay motivated when things get tough?
- [17:46] Listening to customers’ suggestions
- [18:55] How do you establish yourself as a well known expert?
- [20:49] How to maintain a personal life?
- [22:49] Effort required to manage a retail business
- [24:14] Avoiding technology overwhelm
- [25:00] What happened to the business?
- [26:00] Did you originally plan to sell your business?
- [29:11] How do you know when it’s time to sell?
- [31:13] What do you wish you would have known if you were to start again?
- [32:26] When to take into account clients’ inputs
- [34:15] About his new venture related to writing good sounding music
- [36:48] Links to find Nigel online
- [37:27] Summary and taking action: what would you write in your business plan?
The Show Notes
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