Part one of Richard Thomson’s workshop 19 May 09
Richard Thomson of TW Associates delivers an interactive workshop on making the most of business networking at Chez Pierre, Edinburgh on the 19 May 2009. Parts two and three of this video can only be viewed by members of 6 Degrees Networking.
Shaf Rasul talk 3 June 2009 Edinburgh
Edinburgh entrepreneur Shaf Rasul gave an informal talk at an event organised by the networking group www.business9am.co.uk on Wednesday 3 June 2009.
Mr Rasul explained to the guests that upon quitting his new job in a law firm in Glasgow (after graduating for Strathclyde University in corporate law) he chatted to an acquaintance on the train home about the IT industry.
This growing and dynamic sector appealed to Mr Rasul and he immediately set up Silicon Concepts in 1994 and subsequently won a six figure contract. Most people would never contemplate such an audacious venture since he knew little about IT and running a business. Mr Rasul didn’t have the financial resources to fulfil the contract either, but by hiring the right talent and managing the business effectively he succeeded. He pointed out that self-belief and a can do attitude was a massive factor in his early days of business.
The maxim of hiring people who are talented in a particular field is a favourite among many entrepreneurs (Felix Dennis for one) and Mr Rasul is no exception.
He also believes the business should have a good cashflow and avoid unnecessary processes. Mr Rasul often buys businesses that are struggling; cuts out the systems and processes he deems unessential; makes them successful then sells them for amazing profits. In one instance he sold a company he bought for £20K for £2million.
Mr Rasul is constantly investing in businesses and is now one the richest men in the country. He recently appeared on the online version of the BBC’s Dragons’ Den with Julie Meyer of First Tuesday and Skype fame.
While the budding entrepreneurs on the Dragons’ Den are happy to part with shares in their businesses for cash, Mr Rasul would never do the same. He would rather give the talented people he employs a profit share or pay a large salary. Again this is another belief held by other successful business people. Felix Dennis explains the importance of this in his book ‘How to get rich’.
Over the last decade Mr Rasul has invested in many businesses. Most have been successful while a few have failed. His recent online ventures include:
www.svp.co.uk (e-commerce site for electronic goods)
www.boffer.co.uk (one day only deals on consumer goods)
www.vuru.co.uk (social networking site)
www.geeks.co.uk (news and reviews about cool gadgets for men and women)
After a brief question and answer session the audience left the Assembly Rooms inspired by Mr Rasul’s achievements. Some were keen to talk to him about their business ideas or have a brief chat. Who knows, he may have found another business worth investing in that night.
Q&A session at our first official event 19 May 2009
Chris Chirnside co-founder of 6 Degrees Networking answers questions from the guests at the group’s first official networking event on the 19 May 09 at Chez Pierre, Edinburgh.
More information about 6ºN membership
Chris Chirnside, co-founder of 6 Degrees Networking, explains more about membership at the group’s first official networking event on the 19 May 09 at Chez Pierre, Edinburgh.
Barter is smarter in a recession
Bartering (the age old system of exchanging business services without money) has become increasingly popular during the economic downturn. The internet allows companies to exchange globally, generating an estimated $3 billion in the US alone. In Scotland’s Sunday Herald newspaper (29 March 2009) a double page spread was devoted to the subject. You can read the article here.
One of the main Scottish based bartering websites The Business Exchange (TBEx) is a private trading platform with over 200 clients. They include a variety of businesses, the Edinburgh and Aberdeen chambers of commerce, Premier League football clubs and luxury hotels. TBEx, which is based in Aberdeen (Scotland), does business with similar exchanges overseas and sells its technology to clients in North America, Europe and South Africa.
Richard Logie, managing director of TBEx, reports a tenfold increase in inquiries from people seeking advice about setting up bartering exchanges. He says: “The banks have had their day. With the collapse of the banking system, people are going back to basics. There is a need to look at alternative mechanisms of finance.”
Bartering is appealing during a downturn because first, members can find new customers and use excess capacity. Second, a satisfied customer often refers cash-paying customers to the business in question. Third, participants can conserve hard-to-come-by cash. Bartering of goods, however, are treated like a cash sale by the tax man and should go reported to the HMRC in the UK.
Edinburgh Chamber of Commerce in partnership with TBEx, are launching the Edinburgh Chamber Business Exchange (ECBE) – a new exclusive FREE bartering portal service open to all members.
For individuals bartering sites such as U-exchange and Lets are reputable websites for exchanging anything from houses, services and material items. Asda (supermarkets) has started barter boards in a few stores such as Elgin (Scotland) and if successful the store will roll out this service nationwide.
Specialist sites such as What’s Mine is Yours and Read it Swap it allow users to swap clothes, books and CDs.
As the recession deepens, bartering will continue to grow.
What’s on central website
This is an great website for finding out about most of the networking events throughout Scotland.
A good resource for organising your diary.