
In association with American Express.
Real Business has heard from a number of different enterprise leaders who are rising to their particular business challenges, not only to realise their growth potential, but also to reap the personal rewards that come from running your own enterprise.
Scorpion Shoes
Entrepreneur Moji Rezvani is a business owner who has the fortunate ability to look back on nearly 20 years of endeavour. His company, Scorpion Shoes, which blends “bricks and clicks” to sell fashion footwear in store and online, was set up in 1998 and has gone from being in the red when he first took over, to running a successful business with a seven figure turnover today. In that time, Rezvani has remained focused on evolving the business to stay ahead of the game. In addition to going online to compliment their in-store offer, Scorpion Shoes has teamed up with other small businesses to talk to suppliers collectively and find products which aren’t available widely, “just to certain independent players like us,” Rezvani said. It’s a highly collaborative and innovative approach from Rezvani, and one that means he is better able to compete with bigger high street rivals and continue to grow turnover. It’s an approach he wouldn’t be able to take without being in control of cash flow, which he says is a particular challenge for retail businesses like his. In addition to now employing 40 people, making payroll a significant outlay, the company regularly has to refresh stock to stay on top of current trends. That’s where having a flexible credit limit (1) courtesy of his American Express® Small Business Card, proves helpful to financial management. It means he is able to make bigger stock purchases without having to worry so much about cash flow, being able to track all spending in real-time.EverythingBranded.co.uk
Another SME which has proved adept at dealing with the challenges of competition and achieving growth year-on-year is EverythingBranded.co.uk, a business dealing in promotional products and corporate gifts. It was founded by Paul Rowlett, who was out of work before starting up the company. He credits the time he spent in the Navy at a young age for instilling in him the self-discipline and drive to carve out his own, more productive, destiny as an entrepreneur. His wife, Jennifer Rowlett, now runs the business on a day-to-day basis and is in control of the company’s finances, having left behind a teaching career to do so. She explained: “EverythingBranded.co.uk’s hardest periods come in December and January with many clients wanting to delay pre-Christmas payments till the new year.”Roked Filling Station
Roked Filling Stations in Salford is another business undeterred by the challenges of staying competitive. Having taken over a petrol station and retail store from their father, Mubarak Roked, and his sister Farhana, invested heavily in the business which allowed them to snap up a second site. The business has enjoyed relatively quick growth, but Mubarak Roked explained that remaining competitive on price and securing repeat custom are ongoing challenges. Access to finance and securing strong supplier contracts are not always straightforward. Roked Filling Stations uses cash and carry for the retail side of things, but finds stock is always a big expense up front. Mubarak Roked explained that the access to a flexible spending limit (1), provided by his American Express Card, allows him to make larger and broader stock orders – improving margins and giving customers a better range when they visit. Both of which contribute to the ongoing success of the business. From our interviews it is clear that getting the right financial management and tools in place can play a key role in enabling future business success. Conversely, poor cash flow has the capacity to hold entrepreneurs and the companies they run back, because there is not the financial freedom available to invest and grow.Previous: How to help conquer cash flow and unlock your business’ potential
Next: Building a successful business: Why entrepreneurship is worth persevering with
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