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