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it’s not all success
Occasionally it is good to remember that with business can come success, but also failure. In fact, as Rachel Elnaugh, former CEO of Red Letter Days, an e- company that specialised in unusual gifts, says: “It’s the norm to struggle.”
She would know. Aged 24, she founded Red Letter Days Ltd, which provided unusual “experience” gifts such as tank driving, the chance to drive a Ferrari, or record production. The company grew to a £18 million turnover at its height. With her success came awards, such as the Veuve Clicquot Businesswoman of the Year and Ernst & Young Entrepreneur of the Year in 2001/2002. This resulted in her joining the BBC’s Dragons’ Den, a program in which aspiring entrepreneurs pitch their business ideas.
But in 2005 her company started struggling financially and went into administration before being acquired by fellow dragons Peter Jones and Theo Paphitis at a knock-down price.
In an interview on entrepreneur tv, sparked by the publication of her book, which tells the story of how success entrepreneurs overcame adversity in their business careers, Business Nightmares, she talks about her experiences with failure and how to stay positive in the face of it, how to save a business, and what women bring to companies.
Click here to go to the interview.
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Extras
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[...] been to ensure that I can get as much help as possible without necessarily having to pay for it. Rachel Elnaugh, [author of the Business Nightmares, TNW], acts as my mentor, providing guidance and wisdom gained [...]