Videesha is a graduate from the Warwick business school and currently works as a Project Researcher in the network innovation team at TalkTalk PLC. She is also working on a consumer tech start-up called TravelClouds which she hopes to launch later this year.

This is the interview.

Hi Videesha, Its great to finally have you on YHP, how are you doing today?

Hi Joseph, I’m great, thanks!

Recently back from Iceland so getting used to having more than a couple of hours of daylight!

Before we move on, could you quickly give us some background information about yourself so that the YHP audience can get to know you better?

Well, I’m a twenty something ex – wealth management professional who last summer decided to take the plunge and leave my role at Barclays Wealth to pursue a life of entrepreneurship.

The last six months have been a bit of a whirlwind, however, I’m now working on a consumer tech start-up called TravelClouds (www.travelclouds.net) alongside my co-founder, Katherine Ferdinand which should be launching later this year.

Concurrently, I’m on a year placement as a Project Researcher in the network innovation team at TalkTalk PLC and am gaining much appreciated support from the New Entrepreneurs Foundation. Both are helping me make the transition from Finance to Tech Start-Up.

So you attended the Warwick business school? What was the experience like, a lot more people are deciding to go into entrepreneurship straight after school rather going to university, what made you realise that this was the right choice for you?

Growing up as the first child of two South Indian immigrants, I saw the hard work and dedication my parents applied in order to give me the opportunity to go to university. My dad has a PHD and strongly believes in the value of a formal education so, as a young person without a clear idea of what I wanted to do, it was the natural choice for me.

Once there, Warwick really helped to focus my energy. I have always had an inquisitive mind and had been interested in how businesses were set up and grown, therefore I learnt a lot from both the Management course I studied and the inspirational people around me.

My time at university also enhanced my passion for travel. I like keeping myself busy so volunteered to join the organising committee for One World Week (www.oneworldweek.net), an annual festival on campus that celebrates international diversity. I’ve always been intrigued by differences in cultures and the experience further fueled my interest for wanting to understand and experience each country and culture for myself – little did I know that this had sown the seeds for my step into entrepreneurship!

You had an idea for a food tour business whilst at university and despite attracting interest from an angel investor, you decided to work for a corporate. What is the whole story behind that?

I had an idea to link local London university students with tourists and provide themed gastronomic walking tours around London. The problem was, not only was I trying to take too much on board, but I also didn’t have the self – belief or courage to fully put aside the offer of a graduate role with a secure salary and a pretty encouraging sign on bonus. The irony was that a stint at Lehman Brothers was my first graduate job.

The experience over the last few years taught me a lot. So this time around I have had the time to assess my motivations and set the foundations for my business. Working for corporates opened my eyes to the practicality of business and it has taken me 12 months to research and develop my idea, identify my weaknesses and find a suitable business partner before I was ready to whole-heartily dedicate myself to the cause.

Tell us about the New Entrepreneurs Foundation (NEF), why did you decide this was the next step for you, what was the process?

After working at Lehman Brothers and then Barclays Wealth I realised I was unhappy with the direction my life was taking. I lived a life that many aspired to. Despite spending time working in Singapore, living in a desirable part of London, being able to travel whenever and to wherever I wanted and never worrying about my finances (it doesn’t sound bad, right?!) I just never quite felt satisfied. This time I felt ready to take that leap, knowing that there were other options out there for me.

Experience had taught me that I needed mentorship and a support system that would champion my vision and guide me through the transition from wealth management to entrepreneur and NEF answered this need.

The New Entrepreneurs Foundation not only gives me the facilities, network and opportunity to develop my business, but they also believe that each of us will be one of the next generation of top entrepreneurs in the UK and that level of support is invaluable.

So you said you were working for TalkTalk PLC and what have you learnt from the experience so far?

Working for a consumer brand was a drastic change from the world I had just left but the support from the management team has been incredible.

I had initially gone into this position with a clear vision of what I wanted to achieve by the end of the year, but learnt quickly that I needed to adjust my approach and work hard to gain trust and respect in a sector I knew relatively little about. Business is business after-all, it’s best not to let negative emotions and ego get involved.

Something that Dido Harding, CEO of TalkTalk highlighted to me is that you will start any role unconsciously incompetent, progress to conscious incompetence, develop conscious competence then only excel during unconscious competence. This is something I now try to apply to my journey with TravelClouds.

Is NEF something that you would recommend to other aspiring entrepreneurs? What’s the value in it?

Definitely. The application process was fairly intensive, however the connections, mentorship and support from both the Foundation and my peers has been priceless.

Tell us a bit about TravelClouds and how the idea came about?

Well, I’ve always been an avid traveller and realised early on that, if I wanted to start my own business, I needed to work on something I was passionate about. After a lot of research I realised that there was a gap in the market for a service that truly allowed people to discover and share unique travel experiences and wanted to fill it.

Setting up TravelClouds has been an incredible experience so far. We’re still early on but it’s exciting to see something that was just an idea on a piece of paper turn into something tangible.

We are now starting to document our journey, so you can keep up to date on Twitter @travelclouds, or contact us via www.travelclouds.net.

What was the main challenge you faced when starting the company and how did you deal with it?

The most difficult part was choosing the right co-founder. It took me a long time to really figure out what my strengths and weaknesses were and to try and spot my weaknesses as strengths in someone else.

Also, it was important to find someone equally as enthusiastic and dedicated to the cause – surprisingly not everyone is willing to answer emails at 3am!

However, I’ve now found a phenomenal business partner, Katherine Ferdinand who not only has a complementary skill set but also ample experience in product development and marketing so I am looking forward to what 2012 will bring.

What would you say has been some of the key things that you’ve learnt along the way?

One of my favourite quotes is “Whilst the optimist, pessimist and realist were debating how full the glass of water was the opportunist drank it”.

So what I’ve learnt is that there comes a point where you need to put the frameworks, strategies and doubts aside and commit to an idea, vision and a team. The only way you’ll find out if your idea is worth it is by putting yourself out there and not being scared of the consequences.

Any type of failure just makes you stronger.

What would you say has been one of your most memorable moments so far?

I remember seeing the first draft of the TravelClouds logo and thinking “Ok…now this is real”, but I’ve had so many incredible opportunities and moments in this journey.

Meeting Charles Dunstone and having monthly meetings with him definitely ranks fairly highly.

What advice would you give to aspiring entrepreneurs looking to start their own business?

I’ll tell you when we’ve survived our first year.

What can we be expecting from you in the near future?

This coming year a lot more noise around TravelClouds. The programme with NEF finishes in September 2012. Daring to dream, Katherine and I would love to have secured financing by then and be in a position where not only are we self sufficient with TravelClouds but also paving the way to be able to create jobs for other people.

I’m also looking forward to more Travel with trips to Finland, Estonia and Germany already in the diary, more challenges and more fun along the way.

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Hi Jake, Great to have you on YHP, How are you doing today?

Good thanks. Love this winter sun.

Can you give us some brief background information about yourself before we dive into the interview proper?

Grew up in London, and then I studied ‘The History and Philosophy of Science’ at UCL. It was a great marriage between Science and Philosophy, thought I was going to end up an academic. However, I started a business while I was there, and that propelled me in a different direction.

So Jake, tell me about yourself growing up? What was your ambition? Were you the entrepreneurial – making a quick buck type?

Yes and no really. Wasn’t driven hugely by entrepreneurial stuff, in fact I used to always talk about living in a cave in Tibet (which is not off the agenda just yet). However, there were flashes of it when I was at school, coached Poker and ran Poker Tournaments for clients and had a few cheeky businesses on the go here and there. I’ve always been a hopeless optimist, I think that helps.

When did you get your first taste of entrepreneurship, what was your first business project?

When I was about 6, I convinced my little sister that it would be a good idea to set up a stall outside our house. The enterprise was not a success. Turns out people don’t like buying chalk wrapped up in sweet wrappers. I tried to push the business on and sell “fresh” rainwater, I was front of house while my sister was left catching droplets into old Orangina bottles.

You graduated from UCL, tell us about your experience at the university?

I grew up in South London, so by going to UCL I was able to experience what it is like living in central, north and east. That was cool. The course was great, got heavily into philosophy of physics went a bit crazy while doing a dissertation on ‘backwards in time causation in quantum mechanics.’

What would you say was some of the biggest lessons you took away from your university experience?

For some unknown anthropological reason, if you join sports team in university, be prepared for a bizarre cult-like obsession with drinking games.

I know a lot of people are choosing to go straight into work or starting their own business instead. What would you say to anyone contemplating between going to university and going straight into work?

You’ll never get 0% interest loans again, if you can get on a course you will enjoy go for it. Don’t force yourself through a course you don’t enjoy because you think it will help you later.

During your time at university, you also founded a startup – Going Social, tell us how the idea came about?

From enternships.com I took a job twice a week at an online record label (MudHut Digital) in my first year of university. Their business model promoted artists using social media and take a cut off iTunes. I thought I could do this for SME’s on some scale; I did some consultancy, made some contacts and then got a great team together.

What is Going Social?

My elevator pitch was – “Creativity combined with analytics.” It was a digital agency, that offered a range of services for cheaper than all the big names. We picked up the guys who didn’t have the big marketing budgets but desperately needed to communicate effectively online. It worked.

Tell us about the early days of turning it from an idea to what it is now, what challenges did you face?

Going Social actually is no more. I was intending to hire a load of people and take it to the next level but then I got into NEF, which is ironic but I thought it would be a good idea to learn more. Also, I wasn’t sure if I wanted to be a social media agency. I saw that space was crowded and more and more tools were becoming available to brands to keep stuff in-house.

How were you able to balance school and running a business?

Quite a few essays were late in my second year. I got a 2:1 but you have to take some hits. I was getting very good at writing 3,000 words in two days.

How were you able to fund it?

It was a fairly cheap operation, some of the team put some money in but the first client saw us through.

So how did you get involved in NEF? How did you find out about it? How did you know this was the next step for you?

I read it in the paper, and a few people sent through the link to me. I thought it would be a good opportunity to learn some more about different industries and how people run things.

What has it been like working with the founder – Alex Kelleher at Cognitive Match?

I knew Alex from my Going Social days. Now I know how busy he is, I appreciate those times where he met me to talk through my own business. It is good to work with him definitely, he’s a smart guy.

What are you personally trying to achieve from working at the company?

I don’t really have a personal agenda, I think it is important to go with the flow, stay flexible.
Learn as much as I can and add as much value as I can. You will have to ask Alex about the latter but I have learnt a lot.

What would you say has been some of the key things that you’ve learnt so far?

Display advertising is an industry I did not have much exposure to before. Cognitive Match are revolutionising this sector since they change the online experience for both brands and consumers by eliminating generic ads and creating content that is tailored to individuals. On top of that, the results you get from a relevant display campaign are very useful since the insights can inform all your advertising efforts. Knowing that one particular ad is attracting the most interest with people in NW1.. using iPads.. when it is warm outside.. on Saturday afternoon.. is the kind of information advertisers crave.

What would you say has been the most challenging part of the whole process?

Turning off after you leave work. It is very important. You can find yourself bashing out emails at 11pm but it can be counter-productive.

To anyone thinking of joining the programme, what value can they expect to get from it?

Everyone who is on the programme this year is great, which makes the training even more enjoyable. The content of the programme ranges from financial training from Deloitte all the way to how to think properly! For example, one time we got in and we had to make, market and pitch our own new brand of chocolate to a deadline.. another time we had the Mclarren Innovation Team come in and explain how they operate and maximize results. It is a great range of activities.

What has been your most memorable moment up to date?

I was on a sales pitch in New York which was pretty cool. I remember thinking ‘wow my British accent makes me sound so clever!’ It obviously didn’t apart from in my smug head.

After NEF, what’s next for you?

I’ve got loads of plans, but I’m sure I’ll end up doing something I never planned for.

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Hi Kevin, Great to have you on YHP, How are you doing today?

I am very well thank you

Can you give us some brief background information about yourself before we go into the interview properly?

Okay, I am 26 years old and I grew up in Surrey, I am currently living in Birmingham and working with Ranjit Boparan at 2 Sisters Food Group. I left school at the age of 16 and went straight to work in the building trade for about 3 years. I realized that I did not want to work in the building trade for the rest of my life so I then moved into car insurance sales for two years which was the beginning of my sales career.

I then went onto work in the health care recruitment industry for 3 ½ years building myself a successful career without having been to university and earning a pretty healthy salary. I was constantly trying to improve myself by learning how to build websites in my spare time and eventually left recruitment to pursue an online financial comparison business that I was building.

Since then I have launched a small telecommunications business but realized that for me to progress as an entrepreneur and build a long term successful business I needed some further education in business finance and an experienced mentor to give me some further guidance.

I like socializing with friends, going on holiday and enjoying the sun. I like trying new things as well as poker & football but my real passion is business. I just love making money, meeting new people and getting involved in new exciting projects.

So Kevin, tell me about your self growing up? What was your ambition? Were the entrepreneurial – making a quick buck type?

Growing up was interesting to say the least, I didn’t come from an extremely poor background but my family was not wealthy in any way. My teenage years were pretty rebellious and I guess I thought I knew best about everything along with consistently being in trouble in and out of school.

I’m not going to give the old sob story of my life as been so hard growing up and my first word was money but since the age of about 10 years old I have been money motivated and consistently trying to make money by constantly whipping up schemes, selling things and building small startups from my bedroom. I knew from a young age that I wanted to work for myself but knowing where to start was always difficult with very little business guidance.

Everyday I used to wake up and think how I would make money and what am I going to do about making it happen. For me everyday is a new opportunity to change your life to the way you want it. I was not interested at all in making a small amount of money and working in a job I did not love. It was just not for a me and not an option. I will do everything possible to try my hardest and have fun along the way and eventually get to where I want to be, ideally on my own private jet haha.

After school, what did you do?

After leaving school I skipped around the building industry in various different trades and quickly realized that this was no the career path that I aspired to take. I knew in the back of my mind all along that I wanted to work for myself but at the time there was no a big hype around the word entrepreneur. There was not much direction as to how to become an entrepreneur or how to learn some of the key skills I needed to pursue this career path. This was long before youtube, dragons den, The Apprentice and so on.

My best shot at getting to where I wanted to be with no further education was to get into sales and grow my sales skills. I needed to learn from those around me and take in as much information as possible from my employers and progress my skills. Fortunately my previous employers have been very supportive over the years and given me some great guidance and always tried to help me progress further.

The thing is no one teaches you at school or university how to lead a client meeting, selling to a customer over the phone, how to manage a team or even the basics of a professional attitude in a work environment. These are all the things I have learnt along the way to improve myself as my professional career progressed.

Why did you decide to choose the career path rather than going to the university?

I had considered university after leaving school but I guess very keen and felt confident to just get out into the real world and start earning money and gaining experience and of course ‘I knew best’. My understanding at the time was that many people go to university and study for years without actually using the degree that they have been studying and end up working in a completely different job which didn’t really make sense to me.

I was inspired by Richard Branson’s success, he proved you do not need a degree to build a successful business venture. I wanted to break the mold if you like and just get on with it, if there was something I needed to learn then I had the internet and if I needed experience I would get that experience on the job and work my way up the ladder from the bottom. I have no fear in believing in my own ability and I constantly strive to do better and eventually I will achieve want I want to achieve.

What would you say anyone contemplating between going to university or going straight into work?

I think that the days of going to university is changing rapidly due to the high tuition fees. Young people will be thinking twice about just going to sign up for university at the prices being charged. I think you have to be fully committed to the course or career path that you are choosing to part with such a large sum of money.

To me you should go to university if there is something that you really want to learn or a specific career path that you would like to take. If you just want to go to university because it is what your parents are suggesting or your friends are doing then you may need to reconsider because it is a lot of money to waste to get half way through your course and think I don’t like this anymore.

Making your career choice is actually simple in the end and you should always do something that you love. If you do not wake up inspired and motivated at the thought of the job you are about to go and do then you are probably in the wrong job and will be unhappy.

Over the past couple of years what would you say has been some of the key lessons you learnt from working in different companies and what value has it added to your life?

The previous employers that I have worked for in the past have taught me so much. Their encouragement and support have helped me develop my self confidence and the ability to grow my skills. Whilst working in recruitment, I really began to grow with a massive amount of guidance from the senior team leaders and my boss at the time.

Some of the key skills they gave me were how to conduct client meetings, cold calling, recruiting and retaining staff, managing my staff portfolio whilst giving me a good understanding of margins and looking after my own small business. One of the most difficult lessons was how to manage a large number of staff whilst trying to keep everyone happy as well as getting the job done. Recruitment gave me a solid work ethic of work hard, play hard and that you only get out what you put in.

Working as a recruitment consultant gave me my first real buzz for running a small successful business of my own. I learnt a huge amount in my 3 ½ years in terms of canvassing for new business, holding client meetings, selling over the phone, conducting interviews and generally managing my own desk. In running a temporary recruitment desk it gave me a good understanding of monitoring and growing my weekly numbers and margins.

So how did you get involve in NEF? How did you find out about it?

I randomly picked up the city am newspaper as I never read this paper in the mornings because it was usually the metro I read. I noticed the advert and didn’t actually believe what I was reading as I thought it was too good to be true. The NEF is the first course that I have come across that has come anywhere close to giving an up and coming entrepreneur a real opportunity to get the right combination of educational material and access to one of the top entrepreneurs in the country.

After various interviews, tests and assessment days I was fortunate enough to be selected for the final stage which was corporate acceptance. I was then invited for an interview with 2 Sisters Food Group and with some serious luck I was selected for the position and the rest is history.

Tell me about your experience working with Ranjit Singh Boparan at 2 Sisters Food Group so far?

Working with someone like Ranjit is a real eye opener; I have never met an entrepreneur quite like him because he is truly unique. Working with Ranjit is a real privilege and an experience I will never forget. One of the first things he said to me was ‘Cash is King’ which is pretty obvious but considering that I have started many small ventures with little or no capital meant that I was already dead in the water before I had even started those ventures.

Ranjit then went onto explain the importance of understanding my numbers, the importance of having visibility of your businesses numbers to have a sense of control of your business everyday. He has helped me understand the importance of generating cash and controlling working capital. I had never understood this philosophy before that conversation, yet it is one of the most important things to consider when running a business and something else they do not mention on dragons den!

I have learnt so much in such a short space of time because Ranjit has fully understood the NEF concept and what I need to get out of this experience. Ranjit has given me the opportunity to learn at board level in a £2.1 Billion business and learn how to manage and continue to grow a business of this size.

In terms of projects so far I have been involved with integrations, acquisitions, export, startup businesses, charity events, sponsorships, new technology, financial strategies and the list goes on. It has been such an incredible experience so far to meet so many new people and learn so much from such a great team.

What would you say has been some of the key things that you’ve learnt so far?

Some of the key things I have learnt so far is the importance of understanding your numbers as I never really paid much attention to this area because I was mainly focused on the idea and designing my product or service without even understanding how you should start by creating and validating a feasible business plan.

Cash is king in the business world along with your customers being the no1 priority. You have to keep your customers happy and you cannot just sit still, you need to constantly keep improving your service, innovating and giving more for less. You need to know your competition, know your customers and be the best at what you do.

What would you say has been the most challenging part of the whole process?

The most challenging part of the experience is the intense amount of information you need to take in along with all the different projects I am working on and trying to balance a healthy work life balance.

I was living in Surrey before I started this position but it required me to move to Birmingham so that was pretty difficult to leave friends and family behind for a year. It is a very unique opportunity to work at this level and gain insight to a business of this size and be constantly challenged with new projects and opportunities.

To anyone thinking of joining the programme, what value can they expect to get from it?

It will definitely be different form anything you have done before and for me it does depend on which company you are placed with and how much exposure you get with the CEO. You will definitely have an amazing learning experience that is for sure and it will give you a very good understanding of how to launch, manage and grow a business. Along the way you will also grow your business network and make some really good friends.

Tell us about a difficult time on your journey so far and how you’ve been able to overcome that?

To be honest I am constantly thrown into difficult situations and taken out of my comfort zone on a day to day basis. I just try my best and do everything that I can to find solutions to the problems I am faced with. For me the most difficult thing is being nervous when speaking in front of large groups and I haven’t quite overcome that yet but I will let you know when I do but for now I’m winging it.

What has been your most memorable moment up to date?

There are so many great moments so far such as meeting the Mclaren engineering team to traveling around the country and visiting Holland but I guess the most memorable moment so far has to be going to Richard Branson’s house for lunch. Attending the Fast track 100 awards and having the opportunity to network and meet so many great entrepreneurs in one room was a fantastic experience.

After NEF, what’s next for you?

Only time will tell really, the ideal situation would be to launch my own business at the end of this process as I am always thinking of new ideas, new technology, new websites and offline concepts. Hopefully over the next year I will have my light bulb moment and develop that idea into a viable business and get my private jet haha.

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Hi Ravi, It’s great to have you on YHP, How are you doing today?

Hi Joseph, I’m doing well thanks. Refreshed after the Christmas and New Years break, ready for the challenges in 2012!

Can you give us some brief background information about yourself before we dive into the interview properly?

I left London after my final year of school to go to Warwick University, where I studied Finance and Accounting for 3 years. After an internship at a top European bank in the summer 2010, I left the banking industry feeling disillusioned at the gap between what was promised and what was actually delivered. In my final year at university, I set up a company called Eagle Entertainment along with two other friends. It was a student events management company and we hosted student club nights, charity and society events and in our final ever week of University, we hosted an outdoor concert. This experience really sparked my interest in running my own business after university.

What would you list as some of the key things that you took from your university experience?

I can say the best thing I have taken from University is a network of friends who are also the best support network I have. As group of 10 or so close friends, we have had a lot of fun experiences, whether at university or when travelling together. Since university however, when it has come to becoming more independent and thinking about our careers, we are all similar. We are driven and ambitious and appreciate the hard work and effort we need to exert in order to be successful. I think it just shows that whilst at university, you may start of with a wide social network but after 3 years you will naturally narrow this down to a select group of like-minded individuals.

So how did you get involve in NEF? How did you find out about it?

After my banking internship in the second year of university, I looked at the career options available to me and wasn’t sure about what I wanted to do. Being part of the Warwick Business School, it was easy to get drawn in to looking at jobs in the accounting, banking and consulting industries. However, I came across the NEF scheme via an email from a recruitment company and it sparked an interest in me straight away. I had never actually looked at running my own business as a career option- purely because I believed that with my degree I had to look at banking and accounting jobs. When I saw this opportunity however, I thought it was a perfect chance to test the SME/ entrepreneurial waters.

You currently placed at Virgin Active, how has the experience been so far? What role do you play in the company?

I am working at Virgin Active head office but I haven’t been set a defined role as such! If I had to describe my role I would say “strategy” but essentially I research and look at new markets, new competition and current and future challenges the company is facing and provide ideas and strategy opinion, based on my own opinion and research. I would say my role definitely allows for intrapreneurship within Virgin Active and as such, I love being able to organize my own projects and make my strategic proposals be as innovative as possible.

What has been some of the most valuable things that you’ve learnt so far?

Virgin’s company culture is pioneering; treating your staff well means that they are motivated to provide excellent customer service, which in turn keeps the shareholders happy. The role has definitely taught me that some companies thrive when employees are treated well and empowered to come up with their own ideas. I have also been lucky enough to sit through the post-acquisition phase of a takeover that Virgin Active has completed of another gym operator, Esporta. Staff are naturally worried about job security and some are averse to structural changes through times like this. It has highlighted the need for clear communication to all staff members and the importance of an efficient HR function in delivering this.

What value would you say being part of the NEF programme gives you?

For me, the best thing about the NEF is the networking reach of the scheme. The backing that the NEF has from entrepreneurs, VCs, SMEs and large corporations means that it has the NEF brand has provided me access to a large network of experienced and aspiring entrepreneurs.

To anyone thinking of joining the programme, what value can they expect to get from it?

The New Entrepreneurs Foundation gives you the chance to learn how small organisations are created and grow organically. Being able to work with senior management, rather than just for them is a unique selling point of the scheme. Be prepared to work hard and pushed to challenge the norm within your firm. You should be able to provide innovative and fresh new modes of thinking but make sure you have fun too!

What has been your most memorable moment up to date?

Breakfast with Richard Branson! I emailed his PA and was lucky enough to meet him for an hour so. We spoke about his new book, his plans for Virgin Money and we also spoke about my entrepreneurial aspirations. An amazing moment!

What can we be expecting from you in the future, especially after the NEF programme?

I am working on 3 different businesses (within fashion, recruitment and education) and I hope to have at least one of them set up by the end of the scheme. I agree with Luke Johnson when he sys that “freelancers have a unique advantage in launching a startup- they can maintain a steady income flow whilst building their startup in the evenings and at weekends.” The NEF opportunity and working for Virgin Active has given the opportunity for me to do this so I am making the most of my time whilst I can!

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Continuing with my interview series with the NEF participants, today I interview Louis Mech. Louis is currently working at Talk Talk PLC and today talks us through his journey so far.

This is the Interview.

Hi Louis, Its great to finally have you on YHP, how are you doing today?

I am good thanks; excited to get things moving after the Christmas and New Year break.

Before we move on, could you quickly give us some background information about yourself so that the YHP audience can get to know you better?

Sure, I am a 22 year old recent graduate from Royal Holloway (University of London). When I was 12 my families moved to America; so for the last decade I have been flip flopping between the UK and the US. I consider myself very lucky to have grown up on both sides of the pond. Also I am a sports nut! I enjoy all sports however I particularly love going to watch Rugby on Saturdays and then playing Tennis in the summer.

So Louis, tell me how you got into entrepreneurship, what was your motivation?

I am very dyslexic and entrepreneurship always came more naturally to me than English, French or Physics etc. I think at school I really enjoyed the human element that business studies had over other subjects. Business Studies/ entrepreneurship at school motivated me because I was so rubbish at other subjects! I was the worst in the class at the traditional subjects (religious studies use to bore me to tears) then suddenly I was the best in the class at business studies, a lot of people say improve on your weakness; however I prefer to build upon my strengths.

What was your first business, tell us about your experience running that?

Well I went to boarding school when I was 13 and I was always flying backwards and forward from the UK to the US and vice versa. As a result I use to buy stuff in the US and then sell it at school. Typically the UK is about 6 to 9 months behind the US on trends so I would see what my US friends were wearing or using e.g Ugg’s, Abercrombie clothes and iPods; I would then go and buy some, then sell that stash at school for tuck money, If I bought it forr $100 I would sell it for £100, that’s not bad money when your 14!

After that business, what else did you get involved in?

I got involved with Young Enterprise (a national student enterprise competition) at school and was given the lofty title of ‘Director of Sales’. One of the big YE regional competitions was the Somerset Christmas fair. The intention was that each team would make their own products to sell at the fair however I searched and found a local craft store that was going out of business so I bought their Christmas stock. Needless to say our stall had loaded full of really nice handmade Christmas gifts compared to the other stuff the others were selling. My team had the highest sales but however we lost the competition because we ‘did not compete in the spirit of the YE’ I remember thinking this competition just does not get what enterprise is all about.

So you attended Royal Holloway University? what was the experience like, a lot more people are deciding to go into entrepreneurship straight after school rather going to university, what made you realise that this was the right choice for you?

Well I think entrepreneurship is all about calculated risks; the way I saw it was if I got a University degree that would provide me with a safety net should I ever need to get a “real job” in the city. University is great for serendipity you never know who you will meet or listen to. These random meetings plant the seeds of idea and who knows those ideas might just become successful business. University is a great place to start a business because the down side is so minimal. When suppliers would ask me for personal guarantees I would always say of course. This was because I knew that I owned nothing – what’s the worst they could do, take my dorm room off me! Also University is a lot fun, you can’t beat a boozy nights at the SU dress as a Smurf!

You also studied abroad at University of Georgia, how was that experience, why did you decide to do that?

One of the best experiences of my life! UGA was vote the number one party school in all of the US, so that was a big influence on why I decided to go there.

What would you say were some of the key things that you learnt from that experience?

If you’re determined enough you can make anything happen. I think there is a great quote that summarises this school of thought from Tom Hanks in the movie Apollo 13 “it’s not a miracle that man walked on the moon, we just decided to go”.

Is this something you would recommend to other students at the university?

Yes 110%, everyone needs to get outside their comfort zone.

Tell me about how VEO started, how did the idea come about?

Well when I was studying in the US I heard of a company call TOM’s shoes and how they were championing the one for one business model. one for one means every time someone purchases a product a similar product is donated to people in need. I though wow that is really cool! TOM’s were successfully proving that you can utilize the purchasing power of consumers to deliver social change! Then I though how could I make a dent in the Universes through social enterprise.

What is VEO? Tell me more about it?

VEO was a social enterprise sunglasses brand. Every time someone purchases a set of VEO sunglasses, VEO donates a pair of Adjustable Eyewear to a person in need. As I am sure few people will know what Adjustable Eyewear, let me just take a moment to explain the incredible/bazaar/very fun invention. Adjustable Eyewear were created by Professor Josh Silver as a way of distributing prescription eyewear to people in some of the most remote parts of the world, where optometrists do not exist. These somewhat Harry Potter-ish glasses have syringes on the side, and with a few simple twists the recipient then has working prescription eyewear. Once they have found their prescription the person then simply cuts off the syringes and they have normal working prescription glasses.

What kind of challenges did you face when starting the company and how did you deal with it?

We had loads of challenges such as cashflow, balancing uni workloads, writing business plans etc…you just find a way to get it done because you believe in what you are doing.

Talking about balancing your university work with business? How were you able to balance your time on both of them?

I guess I was lucky because I studies Business Management at University; so a lot of my work for say accounting or marketing I used VEO as the case study. I thought of it as killing two birds with one stone.

What would you say was some of the key things you learnt from that experience?

Businesses consist of three parts those are 50% people, 25% idea and 25% business plan if you don’t get the balance right you’re in trouble.

Tell us about NEF, why did you decide this was the next step for you, what was the process?

It sounded like a cool program, so I thought what the heck. It was one written application a few 100 words on your favourite entrepreneur. Then two phone interviews. After that there was an assessment day. In groups of 5-6 you had an hour to come up with a business and then pitch it sort of like dragons den. Then if you get through the assessment day you are interviewed by successful entrepreneurs (these are potentially the guys that you will shadow) to see if there is a personality match. It’s along process however it’s worth it in the end.

What company are you currently working with and how’s the experience been so far for you?

I am currently working for Talk Talk PLC(TALK) the UK’s third largest Telco provider with 5Million customers and £1.7 Billion in Revenue in 2010. It has been like drinking from a fire hose! There has just been so much to take in.

What are some of the key things that you’ve learnt so far from working at Talk Talk?

Look for disruption points that are occurring around you (The PESTLE framework is useful for this) and then consider how to take advantage of them.

If you can’t add value you can’t add margin!

Working capital is a very important thing to get your head around.

Why did you choose Talk Talk?

Maybe a better question is why TT chose me… only Lord knows why they took a punt on me! Haha! I got a great vibe from the CEO Dido Harding and the Founder Neil McArthur. I also like that TT is a challenger brand that it’s never scared to stick two fingers up to established players.

Is this something that you would recommend to other aspiring entrepreneurs? What’s the value in it?

NEF? Yes NEF is a great way to learn from the best! Also everyone on the program are ballers. NEF is loads of fun it’s sort of like a cool entrepreneurial fraternity.

What would you say has been some of your most memorable moment so far?

Meeting Richard Branson was really cool or when we had an innovation work shop from McLaren F1. I never met an organization (McLaren F1) with such a clear focus “we are here to win” plain and simple. I LOVED IT!

What advices would you give to aspiring entrepreneurs looking to start their own business?

Here’s the thing that makes life so interesting, the theory of evolution claims that only the strong will survive, may be so. However the theory of competition states that even the strong can get their arse ‘s kicked! All successful entrepreneurs will tell you that the odds are stacked against you however they will also tell you that entrepreneurship is not a maths test! Entrepreneur is a different type of test where passion has a funny way of trumping logic. “It’s not the size of the dog in the fight, it’s the size of the fight in the dog.” Mark Twain

What can we be expecting from you in the future?

I will hopefully have some fun and make some money.

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This is the interview.

Hi Ben, It’s great to finally have you on YHP, how are you doing today?

I’m very well, thank you!

How did you get into entrepreneurship? What was your first business, how did the idea came about and tell us about your experience running that?

To be honest I fell into it. When I was 11 or 12 years old we had some ICT lessons at school where we learnt the basics of building websites. I remember during break time when most of the other kids were outside playing football, I went to the computer room to keep learning how to code. I launched my own website and once I was getting thousands of visitors a day I started putting ads on the site. After about 6 months I received a cheque for $500 from one of the companies who were advertising on my site. That was a buzz. I’ve still got a copy of that cheque on my wall!

You went on to study at LSE , tell me about your experience?

It was hard work! I met some very interesting people, made some close friends, but also grew up. I think that’s what university is mainly about. Of course I learnt a lot on the course, but it was the extra-curricula activities and personal development which I think will prove to have been the greatest benefit to me going forward, as opposed to matrices and partial differentiation… There’s a lot to be said for the freedom you get as a student – you keep hearing about all these companies started by students, Facebook & Google are great examples, or if you go further back, Time Magazine was started by some Yale undergraduates – so that freedom means you have the space to be creative and try new things – so I had a great time exploring new ideas – even though I didn’t create the next big thing…

I guess there’s been a lot of talk about going to university, the value of having a degree, entrepreneurship becoming a viable option , what made you realize that this was the right choice for you?

I think before university I was in a bit of a hurry. I wanted to start work right away. My parents thought I should go to university to keep my options open – and they were right.. When I’m pitching to investors and I can say “I have a degree from LSE” it adds credibility and shows I can stick with something for a few years. I think I was pretty lucky to go to university when I did though, with the recent increase in tuition fees it’s a much more difficult decision for this generation when they come to weigh up the pros & cons of a university education.

While at LSE, you founded Sparks @LSE which is now one of the largest entrepreneurship society events in the UK, tell me about how the idea came about?

Just after I started my second year, I met Artur, who was then President of the Entrepreneurs society. I applied to run one of the existing society events, but we got chatting and decided we wanted to do something bigger. You know how sometimes you get a meeting of minds? You bounce ideas off each other and it’s totally natural – and that’s what happened.

Suddenly we wanted to launch this international event to inspire young entrepreneurs, helping them create a network, whilst raising money for a worthy cause.

So that’s how the idea came about – a brainstorm… but the end result was nothing like the initial idea. We didn’t raise the sponsorship we initially thought we would, we got turned down by many of the speakers we asked (which in hindsight was unsurprising given we were launching a brand new event that nobody had heard of), and we had a couple of last minute logistical issues which caught us by surprise!

I was very lucky to have Artur as the President – he gave me full autonomy in creating and running the event, but was also a great source of fresh ideas and sound advice. To answer your question – I don’t think I could say the whole idea came about at one time, it evolved up to the date of the inaugural conference, and with the second one on the way, and the second iteration of the management team in place, the idea has continued to grow.

I remember attending the event in 2010 and it was packed with amazing speakers, attendees, how did you manage to get all the speakers onboard, get sponsors and get such a great turnout for the event? What would you say was some of the key things you learnt from that experience?

Hard work, luck, and perseverance. I think we must have contacted 15 or 20 entrepreneurs before we got our first yes. That was pretty tough – rejection after rejection – you need to keep believing. None of us had any experience in this kind of cold-calling either – so we didn’t know what to expect. But once we got our first “yes”, that gave us the belief this was something we could do. I imagine that’s similar to what it must feel like to make your first sale – at that point you know you have something of value which other people want.

We also made use of our alumni relations to secure speakers, and in this respect the university were very helpful. Getting sponsorship was tough. We didn’t find many companies interested in spending big bucks sponsoring an entrepreneurs’ society – had we been banking or consultancy or law it might have been different. So we got creative. For example we were sponsored by some of the other student societies on campus.

We also partnered with our university radio station, who provided the audio-visual for the event.
We had to constantly adapt to changes, for example we had issues with the university venue we had originally planned to use, and had to move the event to an external venue at the last minute. So lots of things changed, I guess my biggest takeaway is that things change quickly,but it doesn’t matter provided you are prepared to stay flexible, and make the best of what you’ve got.

I remember there was a worrying moment when I met with Artur and I said: “Look, we haven’t raised the projected funds, we haven’t got the right venue, and I’m not sure we’ll be able to afford lunch for the attendees – I think we might have to cancel the event!” – to which he replied: “Look, none of this matters – get a room, chuck in the speakers, chuck in the attendees – and you have an awesome event! Of course the other things would be nice, but they don’t actually matter – it will all work out!” – he was right – the next day we secured almost £2,000 in sponsorship from the Women in Business society.

So from this I learnt that sometimes, even when all the pieces aren’t yet in place, you just need to take a leap of faith. I love the definition of an entrepreneur as being someone who jumps out of a plane with all the tools needed to build a parachute – I think that’s a pretty good analogy.

I also learnt the value of having a strong team. Within that team you need leaders, people with initiative and drive and determination to succeed – I was very lucky to have these people. Without a strong team, the event quite simply wouldn’t have been possible – these were the guys who built the parachute after I said “jump!”

How were you able to balance your time and keep focus?

That’s a tough one. I’d like to say I was disciplined and kept focussed on my university work without missing a single lecture and submitting all my work on time. But the truth is I got really caught up in the excitement around the event – and for sure in the weeks preceding the conference that was my focus (and I roped in my flat-mates also!) Actually, that’s something I’d like to add to the things I’ve learnt from the experience – there’s nothing like having close friends who can help you out when you need it most.

You were also the president of LSE entrepreneurs. Talk us through how did that happened and some of the key things you learnt from that?

So running the society wasn’t really something I had in mind – but after successfully building Sparks@LSE, Artur (the then president) and I had a chat – he suggested I think about running for election as the next President. I think what excited me was the possibly of taking on a bigger role, where I could help inspire more people and create new and even more exciting entrepreneurship events.

In my mind it was also a great chance to manage a fairly large team – which I think will come in very useful in my future career. I think at one point we had 45 people in the team (this was broken down into sub-teams of 5-10 for different projects) – along with a management team. This was really hard! When I’ve read about how to motivate employees two things they really tend to want are to be well paid, and to have job security. When the team is made up of unpaid employees, who aren’t concerned about job security, you are forced to use other techniques to motivate the team. So here I learnt about the importance of ensuring people are challenged, are enjoying their role, and are striving towards a greater purpose (a common goal) – I think these are important lessons I’ll hold on to for the future – when I come to employ people for real.

What opportunities do you think being president or being involved in the LSE entrepreneurs gave you?

I was very lucky to be elected as President – and as an unintended consequence of being involved I was fortunate to have some unique opportunities. For example, I met dozens of very successful entrepreneurs, some of whom I’m still in contact with, all of whom not only have great stories to tell, but also sound advice to pass on.

I was also able to meet lots of other aspiring entrepreneurs – who were at different stages of launching their venture – and had exposure to lots of early-stage business ideas as they evolved. This was a fantastic chance to learn from other people’s experience.

I also had fun – for example we met HRH Prince Andrew at one point – to chat about what our society was working on.

Tell us about NEF and how you got involved?

So I was in my final year – and everyone was applying for graduate jobs – but I couldn’t see a single one I was interested in. I didn’t want to be a banker, a consultant or an accountant, I didn’t want to go into marketing, and I couldn’t see a single graduate scheme which actually made me think “yes – I want to do that!”

But in March 2011 I got an email from Freshminds (a company NEF hired to help with recruiting) – asking me to let the members of LSE Entrepreneurs know about the event. I was very happy to help spread the word – but also thought “finally – this is something I would really like to do!” So I sent in my application… I was pretty enthusiastic about the programme, and after a grueling interview process I was very fortunate to be selected.

Which company are you currently working for, what do you do and how’s the experience been so far for you?

I work for Skrill (formerly Moneybookers) – which is one of the largest online payments companies in the world. I’m working in the product team, which involves coming up with new business ideas – sometimes these are tweaks to existing products – sometimes these are radical ideas for new products. Because of the entrepreneurial spirit within the company, we are very fortunate to also receive a regular stream of fantastic ideas from people working in other teams.

Once we have developed the idea, and checked it makes sense from a business point of view, we work with our designers and developers to actually build and launch the product.

What are some of the key things that you’ve learnt so far from working for Skrill?

The one thing I was really keen to learn before starting work at Skrill was how a product idea travels from inception to launch in a large organization – so when I come to launch my own technology business I will understand how to scale it. It’s one thing to have a couple of guys in a room coding and launching new products, it’s another to have more than 500 employees and more than 23m customers relying on your products – and so I’m learning how to make sure that you don’t just gain customers – but that you keep them.

I’ve learnt how to work with different teams and people from widely differing backgrounds, and how to communicate effectively when working with people to a tight deadline. There’s a ton of stuff I’m looking forward to learning going forward – when that learning curve slows down, that will probably be a sign that it’s time for me to move on to the next challenge.

Is this something that you would recommend to other aspiring entrepreneurs? What value can they get from getting accepted in NEF?

For me, personally, I’ve had a fantastic experience so far on the NEF placement. I’ve really enjoyed meeting the other graduates on the programme and attending the workshops and speakers series which have been organized for us – I love the buzz that you get when you put a bunch of entrepreneurially minded people in one room!

From talking to the other candidates on the programme, it’s clear that everybody is experiencing a completely different NEF programme. Not only does your experience depend on the company you are working in, it also depends on the entrepreneur allocated to you, the work you are being given and your own personality. For me I’ve derived value from the network I’m continuing to build through the programme, the skills I’m building from the NEF workshops, and the responsibility and autonomy I’m being given at Skrill.

What would you say has been your most memorable moment so far?

Picking one moment is extremely difficult as there have been so many memorable moments in a very short space of time. One of my early projects was putting together a web-app to enable players to buy into the European Poker Tour – I went to the Hilton in London to see it in action – seeing a product I’d worked on from inception to launch being used and working well – that was a great feeling!

What advice would you give to aspiring entrepreneurs looking to start their own business?

Find something you enjoy doing and try and find a way to turn it into a business. When you start a business it usually consumes your life – and it usually needs to in order to be successful. So it needs to be something you love, otherwise you will be probably be miserable. As long as you enjoy what you do, then the work doesn’t really feel like work – and so you will end up much happier, and your business will be much more successful. Also, try and find someone to build it with you – the ability to bounce ideas off each other and provide support when things aren’t going quite according to plan, can make all the difference between success and failure.

What are your plans after NEF programme? What can we be expecting from you in the future?

Building my own technology company is definitely the end-game. But in the meantime, I am really enjoying working at Skrill, where I am learning a huge amount from my colleagues and improving many of my skills. As hungry and impatient as I am to create my own business, the reality is that I’m still only 21 and have plenty of time to find the right opportunity and the right partners to help make it happen.

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It was back in the Summer of 2010 when I had just finished the first year of my BA Hons degree in Media and Communications at Birmingham City University, that I had the idea for my business. As a vegetarian I and had become increasingly concerned by some of the ingredients in many well know High Street beauty products and cosmetics. Animal fats, crushed beetles and pig placenta are common ingredients as well as harsh alcohols. These ingredients are used predominantly because they’re cheap and they’re used as fillers but are clearly not ethical or good for the skin.

Over the summer I started to research halal products as I found their stringent criteria matched my own beliefs. I then found that actually there was a demand for these products not only from the Muslim community but also from vegetarians and vegans. In Islam, ‘halal’ means permissible or what is allowed in the Muslim faith. Where beauty products are concerned animal ingredients, animal testing and haram alcohol is forbidden. Halal certification is a strict process whereby the products are tested and certified halal meaning they comply with Islamic law. I was convinced that there would be a demand for these type of products.

Initially I was going to run the business online and thought that maybe I would be able to combine business and studies. One day whilst shopping, I came across a very small but perfectly usable unit in The Pavilions Shopping Centre in Birmingham. The unit had been empty for many years basically because it was too small for most businesses. I managed to get the unit at a very good price and with the help of friends and family painted it and did it up myself to keep costs as low. I soon realised that I had created something very special and was determined to dedicate all my time and energy into the business in order to give it a chance to grow.

There’s no way I could have combined both the business and studies so I made a choice and put my degree on hold. I believe I made the right decision and I found that I had learnt many useful things on my degree course that were very much transferable to the world of business, so my studies were certainly not a waste of time. At first there were so many new things that I had to get to grips with. Everything seemed so confusing; corporate tax, vat, rent and business rates, importation duties, my head used to spin with it all. As time went on though, I did plenty of research and sought advice from people like business link and my local chamber of commerce and things became a lot clearer. Everything in business is a learning curve and every day presents new challenges and obstacles to overcome. Pure Halal Beauty is a unique concept and the first store of its kind that sells solely halal certified beauty products.

When our store first opened in December 2010, we received a lot press features and articles from around the world from national press, international press, local press, bloggers and we were even on television.

As the months went by I realised that some products although they are halal are not particularly natural with regards to their ingredients. I knew we could improve on the products that were available which is when I decided I wanted to create my own natural, halal collection that was completely ethical and eco-friendly.

In the Autumn of 2011, just before we reached our 1st birthday, we launched The PHB Collection- the worlds’ largest range of natural, halal and vegan beauty products. The collection includes, skincare, body care, hair care, cosmetics and men’s and baby products also. Most of the collection is made by hand in the UK, and our packaging is 100% recyclable.

I am incredibly proud of the PHB collection and we have had some amazing reviews and feedback about the quality and efficacy of the products. We did a lot of research before finding a manufacturer that we were happy with and who could offer us what we needed with regards to the ingredients and ethical stance of the products. I didn’t want to use any chemicals, parabens or petro chemicals which are common ingredients in many beauty products, mainly because they’re cheap. We researched and selected ingredients that are gentle, natural and effective. For example rosewood, gardenia and rosehip have some fabulous anti-aging properties, so we use these in our Elixir of Youth range. Whilst ingredients like grape-seed, rose and aloe-vera are used in our Pure & Natural range for Very Sensitive skin because they’re incredibly kind to skin. Also it is important to me that none of our products or ingredients are ever tested on animals or contain any animal ingredients. The halal certification and vegan society registration serve to add extra assurances to my customers.

Since the release of the PHB collection we’ve been inundated with interest from around the world and had a number of exciting opportunities. We’ve had a lot of enquiries about potential distribution and franchise opportunities in the UK and Internationally – so this is something exciting that we are exploring. We hope to expand our number of store in the future also, as we are constantly getting calls from customers who can’t wait for us to open up shops in London, Manchester, Leeds, Bradford etc. So overall 2012 looks like being a very busy and exciting year for Pure Halal Beauty!

For more information visit: http://www.purehalalbeautyproducts.co.uk/
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Today, I have Ushma Soneji. Ushma is a Graduate from Oxford University currently placed at DFS based in Doncaster and also shadowing the CEO, Ian Filby.

Here is the interview

Hi Ushma, Its great to finally have you on YHP, how are you doing today?

I’m great thanks! Just enjoying being back home over the festive season.

Before we move on, could you quickly give us some background information about yourself so that the YHP audience can get to know you better?

Sure- I’m working at DFS in role that is vaguely entitled ‘Project Assistant to the CEO’. It involves a mix of business development and shadowing the CEO, Ian Filby. I got this role through the New Entrepreneurs Foundation, an organization that aims to nurture entrepreneurs by giving them tailored training and mentorship as well as experience within small to medium sized companies.

How did you get into entrepreneurship, what was your inspiration?

If I had to narrow it down, I’d say it came about when I first got involved in Young Enterprise at school. I decided to apply for Managing Director and loved the whole experience. I’d considered a number of career options by the time I reached university, but I realized that business, and especially big businesses, gave you the opportunity to touch lots of people’s lives in a small but positive way. That was what really appealed to me.

What was your first business, how the idea came about and tell us your experience running that?

Our Young Enterprise company, Route 17, made cushions with embedded speakers that could connect to MP3 players. We won a lot of awards for having an innovative product- but in all honesty, somebody in our team had a speaker cushion on them in the first meeting and said ‘we could do this’! Everyone got behind it, and it made sense to put the effort into creating a new product that everyone was passionate about. The most important lesson I learned that year was how much fun you can have when you throw yourself wholeheartedly into anything.

You studied PPE (Politics, philosophy and economics) at Oxford University; tell us about your experience at Oxford University?

It was an experience I feel very privileged to have had. The best thing about Oxford, by far, is the people. The friends you meet; the people you work with; the speakers you see; and the tutors that give you so much of their time. Terms are short and intense, but I loved my subject so it made sense to work hard and play hard!

I guess there’s been a lot of talk about going to university, the value of having a degree, entrepreneurship becoming a viable option, what made you realise that this was the right choice for you?

It’s problematic if you believe a degree is just a signal to future employers. When you start to consider self-employment, and particularly entrepreneurship, it doesn’t appear to be fully necessary. For me, however, my degree was a natural extension of everything I loved learning about and had little to do with employment opportunities. I was brought up to believe that while you are young and have few responsibilities, you should put your education first as it is the most natural time to focus. Similarly, you are also in a position to take financial risks and try new things, which is a key requirement for entrepreneurship. I therefore saw education and entrepreneurship as complementary, rather than conflicting.

You were quite involved in the oxford entrepreneurs society, tell us about that experience and some of the key things you learnt from that and opportunities that it has given you?

I became involved with Oxford Entrepreneurs when I took part in one of their OxPrentice events which involved pitching, creating and selling an ice cream flavour! Following that, they invited me to interview to join the society as the secretary. Taking meeting notes and writing the weekly newsletter allowed me to find out everything that the society was involved with. It’s a hugely successful and powerful society, but the best thing for me was meeting like-minded individuals. Your average week in Oxford will include at least one free meal/drinks event powered by a law, finance or consultancy firm and a lot of people fall into those careers because they are well-represented as well as being respectable and well-paid. It was nice to meet people who were considering different routes and trying something new.

You were also the president at SIFE during your time at oxford university? Talk us through how that happened and some of the key things you learnt from that also?

It’s a great story. I told the President of Oxford Entrepreneurs that I was interested in social enterprise, and he said I should meet with the current SIFE president to talk about it. I went to meet him for the first time over coffee and the conversation went a little something like this:

Him: ‘I’m leaving for India tomorrow. Can you take over?’
Me: ‘Er, sure. How can I get into contact with your team?’
Him: ‘I’ll send you their emails. But most of them are exchange students and leaving soon. You might want to recruit new ones’

And so I did exactly that. I recruited a great team, with really passionate people, and we began a couple of consultancy projects including working for a cruelty free milk organization (www.ahimsamilk.com), a Kenyan microfinance project (www.mashfoundationtrust.org) and sold our own paper pads for schools in India. I learned a lot over the year about how to recognize people’s skills and passions and delegate accordingly. It’s a tough lesson to learn, but a very important one.

You are also a member of the Kairos society, tell us about that organisation and why you decided to apply for it?

A few of my friends told me about the Kairos Society and said it sounded like something I’d enjoy. The Kairos Society aims to connect future leaders and entrepreneurs across the world through a passion for a better future. The real appeal lay in a trip to New York to meet entrepreneurs from around the world. The whole experience was a really positive one- there were so many passionate students who had started up innovative businesses, and it opened my eyes to the impact of disruptive technology on businesses. It was a trip for building friendships, as opposed to ‘networking’ and I really value the people I met here.

You did all of these things while you were in the university and still graduated with a 2:1 in your degree, how were you able to balance your time and keep focus?

Oxford can be intense at the best of times, but I think that all the extracurricular things I did actually forced me to focus my time better. Since I enjoyed it all, it felt more like a break from work than an additional workload most of the time. More practically, I didn’t have exams in second year and my final year counted for 100% of my degree, so I tried to cram as much into my second year as possible!

What would you say was some of the key things you learnt from that experience?

Being busy makes you more efficient.

Tell us about NEF and how you got involved?

I applied to the NEF because I felt I needed guidance. There’s a lot of agreement around the fact that the best way to start up a business is to get stuck in as soon as possible, but I still felt that I wanted to explore different industries and learn as much as possible about the process itself. The NEF seemed like the perfect opportunity for me, because I didn’t want a long term commitment to one role in one company, and to keep my ambitions to start up a secret. There is such a wealth of experience within our NEF class and we are all trying to achieve similar things. It’s been a hugely supportive experience and I’m grateful to be involved in it.

What company are you currently working with, what do you do and how’s the experience been so far for you?

I work for DFS and am based in their head office in Doncaster. I am working on and managing a few projects that will be tied into the company’s brand reappraisal and extending our customer base. It’s a fascinating time to join as it’s going through a lot of internal change in tough external retail conditions. I was also trained as a salesperson and spent two weeks in store to get to know the product and the customer experience. I’ve got three mentors and am trying to understand the company on different levels.

The first is the director I work most closely with on the projects, who has a lot of experience in the industry. The second is the business development director, who helps me get an overview of how the projects come together to create future growth for the company. Finally, I get to understand the overall company strategy from the perspective of the CEO.

What are some of the key things that you’ve learnt so far from working at DFS?

1. Know how to sell.
2. Relationships and people come first.
3. You can’t know everything about a business, but you do need to know how to get relevant information when you need it.

Is this something that you would recommend to other aspiring entrepreneurs? What value can they get from the experience?

Definitely. I think the biggest benefit of the programme is the constant reassurance that entrepreneurship is a viable path, and that there are concrete steps that you can take and people you can talk to, to help you in this direction.

What would you say has been your most memorable moment so far?

I really enjoyed the opportunity to go to Richard Branson’s house for a Q&A session with other young entrepreneurs. I asked him his views on social enterprise, and he gave a really well- thought out answer on the different priorities of a business as it grows. It changed my perspective a little on social enterprise, and just goes to show how much advice you can get by talking to the people who have already achieved what you aim to do.

What advice would you give to aspiring entrepreneurs looking to start their own business?

Meet as many people as possible with similar interests to you. They are likely to be the ones that push you in the right direction.

What are your plans after NEF programme? What can we be expecting from you in the future?

I’m keeping my options open and prefer to set long term goals. My aim is for my next steps to help me with my goal of starting a meaningful and value-led business, and to meet some interesting people on the way!

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NEF (New Entrepreneurs Foundation) was launched by a group of successful business people who give 25 of the UK’s brightest, entrepreneurially minded young people the opportunity to work for a year with some of the country’s leading entrepreneurs in the hope of developing a new generation of outstanding entrepreneurs who will play a role in Britain’s future growth and prosperity.

Some of the entrepreneurs have been placed in companies such as: Skrill, Monitise, YouGov, DFS, Liv-ex, Travelex, Seatwave, Better Capital LLP, LBi, HomeServe, TalkTalk, 2 sisters food group, Virgin Active and Cognitive Match etc..

Here is my first interview.

Hi Simon, It’s great to finally have you on YHP, how are you doing today?

I’m doing really great, thanks for having me. I am just wrapping up in work before catching a flight back to Dublin tonight for the Christmas break. I am really looking forward to a week off as we have had a really busy run up to Christmas where we worked very hard at Better Capital to close a new fund in a turbulent market.

How did you get into entrepreneurship? Who or what was your inspiration growing up?

My Dad ran his own company along with a few of my uncle’s, but it was always very important to both my parents and I for me to get a strong education. I guess this was the focus of my youth. However, my idols have always been entrepreneurs such as Richard Branson, Chuck Feeney, and more lately Michael Bloomberg, Steve Schwarzman and the Candy Brothers. Despite harbouring entrepreneurial aspirations from a young age, it has been the NEF which has been the real catalyst in my entrepreneurial journey.

What was your first business, how did the idea come about and tell us about your experience running that?

My first entrepreneurial endeavour was founding the London Irish Graduate Network (LIGN) in 2010. During University, I was a member of the Junior Chamber of Commerce (JCI) in Dublin, and this was a great way to meet business people of a similar age and mindset. Upon moving to London, I planned on joining something similar to build a solid network in a new city. However, after trying a few of these networks, I just felt none of them gave me exposure to the kind of people I wanted to meet (i.e. young ambitious students/ graduates in top business jobs).

After discussing this with a friend who was having a similar problem, we decided to build a networking platform that would give us the kind of exposure we really craved. We appointed a board, and the first iteration of LIGN was formed. At the time, the other board members were studying for Masters in Cass Business School. Using this as a launch pad, we formed the Cass Irish Business Society (CIBS).

We ran a number of events as CIBS which were focused on business/ finance students and graduates. We got a number of graduates in from some of the top employers in the city, and they gave speeches on how they went about securing their jobs etc. This proved very successful and throughout the year we held a number of similar events focused at helping our members to meet people in their desired roles and industries.

During the year, the International Irish Business Network (IIBN) which is London’s largest business network became interested in what we were doing and we ran an event alongside this well established network. It was at this time that we felt we needed to incorporate more universities into our model so we re-branded to the London Irish Graduate Network. As this model is specifically modelled around the foundation that Cass Business School provides, the board decided to pass over the reins to new members this year to keep things fresh.

My experience running this was really beneficial to my career giving me great exposure to some of the top Irish business people in London, as well as the new batch of ambitious, educated graduates.

I guess there’s been a lot of talk about going to university, the value of having a degree, and entrepreneurship becoming a viable option. What made you realize that this was the right choice for you?

I think my story of realizing that the entrepreneurial journey was something that I am very interested in is quite like that of Phil Knight, the Nike founder. I was not the Richard Branson type child who was selling everything and anything from eight. I went to University, worked very hard, did well and got a job in London from it.

My goal then was three to four years of consulting work, an MBA in the States, and then look at starting my own venture.

When Phil Knight started his MBA at Stanford, he had that “aha” moment when sitting in Frank Shallenberger’s Small Business class. Shallenberger defined the type of person who was an entrepreneur–and Knight realized he was talking to him. Like Knight, when I got involved with the NEF, it was due to a few entreprenurial-ish things I had done, i.e. setting up societies and my University experience. However, meeting some of the other incredibly entrepreneurial candidates, and hearing stories from some of the top entrepreneurs in the UK made me realise that this is what I really want to do with my life, albeit after securing a bit more useful experience.

Thinking back, I have always wanted to run my own company, but felt I needed to hit certain milestones before doing so. What I have learnt on the NEF is that every entrepreneur, aspiring or successful, has doubts. It is how the entrepreneur deals with these doubts that is the key success factor. My doubt was that I needed to have a Harvard/ McKinsey name on my CV before I could go out on my own. What the NEF has done for me is shown that although these are great options, nothing can really prepare you for the life of an entrepreneur, except becoming an entrepreneur.

Therefore, despite always wanting to be an entrepreneur, it has been my NEF experience which really made me realize that this is the option/ lifestyle which really appeals to me.

Tell me about your university experience?

I studied Engineering and Math’s at Trinity College Dublin, Ireland. I have nothing but fond memories of my time in University. As is the nature of Engineering, we always had the longest hours on campus. But rather than this being a negative, I feel long weeks with the same group of people crystallized friendships that have lasted long outside University. On top of that, we had some great trips and great parties. When moving to London, I found Engineers were in high demand for some of the top jobs including investment banking and consulting. The skills learnt in my four years such as high numeracy and a good problem solving ability have served me well so far in my career. In my NEF placement with Better Capital, my ability to crunch numbers and solve problems was noted as key skills when Better Capital selected to interview me.

Tell me about your experience working for Turner & Townsend? What were some of the key lessons that you learnt from that experience?

Mostly my experience with Turner & Townsend was positive, but it was also an eye opener for me. Most people have a romanticized vision of their first real job after University. However, what I failed to realize was that not everybody has similar ambitions or life goals in the companies you join. I joined a firm where I thought everybody wanted a short term learning experience with as much exposure to as many things, as quickly as possible. However, this was far from the reality. Many people had a lot of commitments that took precedence over their career, and they were very comfortable in a well-paid job, running projects for some of the biggest companies in the world. For someone with a constant need to feel as if I am moving forward, this was a real eye-opener.

Most people in T&T were quite a bit more senior than I, and in retrospect, this was quite a good experience. I learnt to deal with seniority, and overcome the fact that as a young person, people always initially doubt you because they have 20 years experience on you. Also, due to the seniority of the firm, there are not many graduate hires. Not having a rigid support structure actually worked quite well for me and forced me to set my learning goals and targets and this was a great lesson to learn. Coming into Better Capital where you are expected to act for yourself, this strong self-dependency has been invaluable.

Tell us about NEF and how you got involved?

It is quite serendipitous actually. As mentioned, I was working for a consulting firm when I read an ad in the FT about the NEF. Initially I didn’t’t believe what it was promising. As it is a new program, I felt that some of the promises were over-ambitious. However, I was still intrigued by the prospect that such a program might exist. As I went through each interview stage, my interest and belief in the scheme grew exponentially. I really think what the NEF guys are doing is unbelievable, and being involved has really changed my life and my career trajectory. I feel once it starts to build alumni and has a number of successful candidates coming out, this program has the ability in the next 10 years to become as prestigious as the Goldman Sachs and McKinsey recruitment programs.

What company are you currently working with, what do you do and how’s the experience been so far for you?

I work for Better Capital, Jon Moulton’s new private equity company which invests in distressed companies and turnaround opportunities.

To start, Jon Moulton is one of the most prominent private equity industry leaders in Europe, so to even meet him was a fantastic opportunity. But getting selected at age 22 to work directly for him, sitting in an office where my desk is one away from his is quite extraordinary.
My three months with Better Capital so far have been really fascinating. I have been given exposure to all three of Better Capital’s business areas; fundraising, transactions and operations.

On the fundraising side, I have friends who are a bit older and work for some of the top PE firms such as Blackstone and Carlyle. They tell me that fundraising is usually reserved for top level Managing Directors. However, Jon was quite relaxed about taking me to a number of investor presentations with large institutional investors and high net worth individuals. This has been a great privilege.

As someone without an accountancy background, there is only so much I can do on the transacting side as some of this work is very detailed. However, the team in BC has been great at getting me involved in valuing opportunities, writing papers on Defined Benefits Pensions Schemes and analyzing many aspects of the transacting process. During down time, they are quite keen to take me to the side to run through some complex areas that I have not seen before. Exposure to transactions has really increased my knowledge of financial statements and valuing opportunities which is a great skill to take forward on my own entrepreneurial career.

Most of my time is spent on operations which is working with our portfolio companies streamlining operations or working on problems which the CEO/ top executives feel are important, but too time consuming for their full commitment. It has been great working directly with these different executives on issues that I can really get my teeth stuck into.

What are some of the key things that you’ve learnt so far from working at Better Capital?

When you go to investors, know your financials inside out. We were interviewing the CEO of a potential investment last month, and when we asked what his EBITDA for the last year and quarter were, he didn’t’t know. Straight away a red flag was waved and we lost confidence in him as a leader. Know your numbers, be realistic about your forecasts and definitely don’t try and sugarcoat things. Some of the people in Better Capital are some of the smartest I have ever met, and they have seen it all before. They don’t mind bad numbers, we deal with distressed businesses every day which probably have far worse problems than your company, but if someone lies or hides things, they are definitely compromising what could be a very fruitful relationship.

Another lesson I have learnt is that profits are important, but cash is king. Cash flow takes precedence over all other things and this should be tracked in a very detailed manner as often as possible. This is especially important for start-ups.

Tell me more about the experience of working at Better Capital particularly working with Jon Moulton?

Jon is an incredibly hard worker. He is a very wealthy man, and I have heard many people say – “If I had that money I would be on a yacht”. But Jon is one of the least opulent people I know and he is more than happy doing deals day in day out for the rest of his life. I deeply respect his passion for his work.

He also is one of the smartest people I have ever met. He has an opinion on everything and that is great to be around. He is the kind of guy who switches between reading a detailed financial report to reading about advances in the medical industry in the Lancet. He also has a great ability to read large documents fast whilst being able to retain a lot of the info contained within. I have seen how valuable this skill can be.

A great point about Jon is that he has no problem walking over to you in the office and saying that looks wrong, or complicated, or even asking you what are you doing. Constantly having his presence keeps me on my toes and it is great to see him getting involved with people who have far less experience than he does.

Is this something that you would recommend to other aspiring entrepreneurs? What value can they get from getting accepted in NEF?

If you are serious about entrepreneurship, I believe that the NEF is a launch pad that can take your business/ career to a much higher level.

If you have an idea, or are still searching, the NEF gives you exposure to some of the most talented graduates from a diverse range of industries, to some of the most successful entrepreneurs in the UK, and to some the best training out there for entrepreneurs (bar starting your own venture that is).

The NEF also gives you a story which has allowed me to approach potential mentors and idols with something which is far more interesting than the average graduate career trajectory (in my opinion anyway). Knowing people like Jon Moulton gives me great exposure and access to an array of investors which will be very useful when I decide to start my own venture.

Taking the contacts out of the equation, the knowledge one gains through being involved with the NEF gives you a real advantage over people your own age as not many can say they have exposure to working with a top management team every day. Having a year work experience with someone like Jon Moulton (or any of the CEO’s who are equally as impressive) gives a level of credibility that is hard to come by from most graduate jobs. Whether your goal is to start your own venture straight after NEF, or go into a corporate for more experience, you will end up in a pretty healthy position after a year on the NEF.

What would you say has been some of your most memorable moments so far?

I have had plenty of memorable moments but below are some of the best.

1. Being asked to fly out to the Genoa boat show on behalf of one of Better Capitals investments to undertake a competitor analysis. Having worked closely with our investments CEO, I knew that the people who work at the stands at these kinds of shows are very cautious about giving information to competitors.

They are also trained to assess a customer’s likelihood of buying a boat, or ability to afford one. Therefore I had to go “undercover” and try and get as much pricing information from all these guys as possible. My back story was that I had been flown down on the whim of my billionaire boss (not totally unfounded) to scope out a new boat for beside his French home. I initially tried getting information without having to use this story, but after a constant stream of rejections (let’s face it, I can wear white chino’s and D&G glasses, but who in god’s name is going to believe I can afford a £3m boat), I resorted to my initial strategy.

This opened up a whole new world for me, with me being taken into the back of all the showrooms (they have secret deal rooms), getting VIP treatment on all boat viewings, getting to sea trial a few serious yachts and getting taken out for dinner by one of the luxury boat reps.

2. Meeting a top New York Hedge Fund Manager whose prodigious career to date saw her working at a PE firm at 22, before being plucked to a hedge fund at 24 and running a $100m fund at 29. She took a shining to me as she thought my career had similarities to hers and she recommended I meet her mentor who is FTSE 100 CEO and Burberry Board member. Getting an email from a FTSE100 CEO that he heard good things about me, and he would love to catch up in his office was a real confidence booster and a real highlight. He was a fantastic sounding board when we met and someone I look forward to keeping in contact with.

3. Having the opportunity to meet one of my business idols, and Irelands most successful business man for lunch in February 2012 to discuss my career.

What advice would you give to aspiring entrepreneurs looking to start their own business?

Obviously the following is how I am currently thinking rather than from experience (having not started a company). But in terms of advice I would say:

Find what you are passionate about and test if it is just a nice thought or something you really want to spend a considerable amount of time doing. You often find the people who are most successful have known from a very early age what they wanted to do. If you don’t, think about industries that excite you and try to get some exposure to them. If they do excite you, try and get some real exposure in that industry and once you start to build your knowledge and contact base, look for disruption points and niches.

Once you think you have the idea, act quickly. Don’t waste time with business plans and trying to get funding. Develop a prototype and go straight to your customers. Test if it solves a problem they are really having and if not, iterate until it does. Also, test their appetite for your solution to their problem i.e. do they say, “that’s a great idea, but the problem is not a massively burning issue that I feel I need to change provider”. Fail fast and learn quickly and only when you have a product or service that has enough traction should you go to investors.

Obviously the above requires some capital, so my suggestion is to build enough capital to last you and your idea for 10-12 months. After this period, if you have still failed to prove a certain aspect of your idea, have a serious think about whether or not this is the right product/ service and act appropriately. Write a business plan only when someone important asks you to do so.

Don’t worry about telling other people your idea for fear of it being stolen. If you have decided to quit your job and put everything you have into this idea, you have already built up a buffer to it being stolen. Realistically there are five teams around the world trying to solve the exact same problem as you anyway, so talk to as many people to get as much advice as possible. Also, don’t fall into the trap of believing that first users are representative of your target market.

Typically, these guys are the ones who sign up for anything, and think everything is great. Get to the real core of who your customers are, solve their problem and all else will follow.

What are your plans after NEF programme? What can we be expecting from you in the future?

As I mentioned, I am still searching for that one idea that set’s my world alight. However, I feel I am in a privileged position to do so. In Better Capital I am learning how to value companies, assess teams and streamline troubled businesses. As such, I get exposure to many industries and companies on a weekly basis. I plan on keeping up this momentum whilst learning more about assessing companies from a financial perspective for the next nine months.

My thought process has changed so much in the past three months I fear saying where I think I will be next September, but realistically, I feel I will look at one to two more years corporate experience, potentially with Better Capital, or a large corporate with a high learning curve.

I will keep on trying to meet as many successful entrepreneurs and potential mentors as possible and learn as much as I can from them. I am also in touch with a number of people (particularly guys from the NEF) who are getting involved with start-ups so this is an interesting avenue for me to explore.

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