An Analogue Entrepreneur in a Digital Age

I had to concede yesterday that I was an analogue entrepreneur in a digital age when I attended Internet Marketing Expert Mark Attwood's latest SEO clinic.

It was an intensive, mind blowing day about how to utilise every available - but legitimate - trick possible to market via the internet as well as maximise conversion from your website.

Mark Attwood is the entrepreneur who took leading Skip Hire company www.topskips.com from £0 to £7.5 million in just three years using these techniques. He is now using his considerable talent as a charismatic trainer to help other entrepreneurs on their journey. Mark also delivered a fantastic 90 minute workshop at our recent Marketing Magicians event and you can buy the DVD set here.

I'm now completely looking at my online strategy in a totally different way so expect some changes over coming months!

Scores on the Doors

I have been asked to let you have a full run down of the results of my Entrepreneurial Profiling Test so far, this is latest stats 1 September to date, now based on c2500 people:

Alphapreneur (money driven) 6%
Bosspreneur (control freaks) 4%
Dadpreneur (lifestyle orientated) 24%
Execpreneur (corporate animals) 33%
Mumpreneur (family comes first) 20%
Passionpreneur (driven by doing what they love) 2%
Safepreneur (risk averse) 6%
Sociopreneur (want to change the world for the positive) 4%
Ultrapreneur (ultra high achieving philanthropists) less than 1%

For more info on how the test works click here

Regards

Rachel

Why Products Fail

Since writing my blog below about Peter Jones' new show Tycoon, I set up a Google Alert which has since sent me every online piece documenting - in excruciating detail - the failure of Peter's latest TV project.

When you are entrepreneur just starting out, at least you can mistakes (and there always will be mistakes!) in private, whereas we 'Celebrity Entrepreneurs' are always under the full and often embarassing glare of the media spotlight.

Although I actually feel for Peter, having been through my own very public 'media meltdown', nonetheless it did prompt me to think about what makes a great product (whether that be a TV programme, or any other creation out of which you intend to make money).

When the Dragons were first approached by the BBC and introduced to the talented producer Martyn Smith, who had been commissioned to create the concept for Dragons' Den, I think we all expected an X-Factor type show in a studio at White City.

Instead we were sent to a desolate warehouse in one of London's less safe suburbs, sat on mis-matching chairs in a bleak set and had no real instruction on what was about to unfold.

But when the first series of Dragons' Den was aired back in January 2005, it was clear just from watching episode one that the BBC had a hit on their hands. Although it was quite raw and the entrepreneurs weren't brilliant, to me that first series was by far the best - it had a great energy; the Dragon egos had not become bigger than the Show itself and the entrepreneurs were truly desperate for funding and support - not just after a free primetime TV ad.

In short, Martyn Smith threw out all conventional TV wisdom - and took the risk to create something briliantly innovative and original, which would change the way business TV programmes were conceived forever. And the BBC has been milking the formula relentlessly ever since (in fact, some would say the cow has long since run out of milk).

The reasons why Dragons' Den was such a success are exactly the same reasons why Tycoon - and many other products like it - failed.

Playing safe and following what others have done before may seem like a solid option to achieve success, but in business it is actually often the riskiest approach you can take.

Peter Jones' New Show 'Tycoon'

I tuned in to last night's much hyped new ITV business series 'Tycoon' with much anticipation.

Not only am I an avid fan of the new breed of TV business shows, but also having known Peter Jones 'before he was famous' - when we filmed series 1 of Dragons' Den back in 2003 - I was interested to see how he had developed in his role as 'celebrity entrepreneur'.

But minutes in, as we were flown over the City of London in the opening credits and then had a street level view of his shiny new Bentley arriving outside a disused warehouse-type building, it became clear that we were destined to endure a lowest common denominator formulaic pastiche of The Apprentice meets Dragons' Den.

Jones has selected 6 would-be entrepreneurs to take part in the show, each trying to build their business in a 10 week period working in an open plan office, under the scrutiny and 'guidance' of Jones.

The problem with the show is that it quickly becomes apparent that Jones hasn't a clue about brands or marketing, constantly misguiding the businesses in his charge.

Thus we see the 'Gardening Girlies' being encouraged to re-brand to something more 'attention grabbing' - and then being heaped with praise for coming up with the new identity 'Sod Women'. Personally I can't think of a brand name more likely to alienate what is predominantly a female, middle England target customer.

Similarly, vodka juice girl was given a slating by Jones for her attempts at finding a name for her product - citing 'Death' cigarettes as a great example of an attention grabbing brand (yes, those were the fags launched in 1991 by the company which was in liquidation by 1999). She finally resorted to grabbing passing joggers on the South Bank for their suggestions.

Back to the warehouse office and Jones has summoned everyone to a meeting to discuss their progress. The Gardening Girlies, sorry I mean 'Sod Women', have arrived in navy pinstripe suits wearing ties - only to receive more praise from Jones for showing so much progress under his guidance. No doubt in a future episode they will arrive having undergone a complete sex change, only for Jones to coo 'Congratulations ladyboys, the penny has finally dropped with you that only men can be successful in business'.

Finally, Jones heads down a pier for a showdown with vodka juice girl - plus the inevitable threat of a sacking - when what she really needed most at this point is some friendly guidance from one of London's big branding agencies.

This is where I think the show was so disappointing compared to, say, the brilliant Mary Queen of Shops (BBC2 Thursdays 9pm). In that series, Mary Portas not only points out where the businesses are going wrong, but then really gives brilliant hands-on guidance - by bringing some of the top fashion professionals in to help show how it should be done.

As the show progressed, while Jones' teeth got whiter, his cufflinks got bigger and the Bentley got shinier, Jones personality got thinner and thinner. By the end of the epsiode I was left feeling that this was simply another TV vehicle for his now monstrous sized alpha male ego.

The penny finally dropped when we saw the last frame and realised that the show had been created and produced by Jones' own TV production company Peter Jones TV. Like his Max Clifford co-client Simon Cowell, Jones clearly sees TV production as his latest way to make some much needed money.

A quick peek at the latest Phones International accounts shows why the diversification is needed - £4million profit on £186million sales is a nice business to have, but hardly puts Jones in the 'Tycoon' bracket of a Branson, Dyson or Sugar. Especially when up the road at Red Letter Days (the business I started, which Jones acquired out of administration in 2005 in a flourish of 'I'm-a-Dragon-and-I-know-a-Great-Business-Opportunity-When-I-see-One' publicity) has just filed a loss of £7.1 million.

While the TV route may have worked for Simon Cowell, sadly I don't see the same happening for Peter. While the idea for the show was great, the execution was lousy, and as one of Britain's supposed new breed of business leader, Jones just doesn't have the X-Factor.