He shot to fame becoming Lord Sugar’s first Apprentice in 2005 and instantly became an inspiration to many. You know the name, Mr. Tim Campbell. After two years of working alongside Lord Sugar he went on to establish the Bright Ideas Trust, a social enterprise which encourages young entrepreneurs from disadvantaged backgrounds to start business ventures and he continues to mentor budding entrepreneurs at the British Library. Tim checked-in for a chit-chat with Krystal.
How did you benefit from being Lord Sugar’s Apprentice?
The main benefits came from learning how to focus on what’s important, time can easily be wasted in business. I also learnt how to manage a diverse team. However, probably the most important lesson learnt was how to motivate people.
What ventures are you involved in at the moment?
Currently I’m working with my own charity, Bright Ideas Trust. The organisation provides a package of business support to 16-30 year-olds in London who are currently not in employment, education or training (NEET) or from socially excluded groups and are looking to start their own business. I am also involved in Sockcrush.com and Apprentice Speakers.
What are your key tips for first-time start up businesses?
Firstly, plan – know your customer and give them what they want. Persevere – understand that it’s going to be difficult but the rewards of success outweigh the risk. Partner with as many people you can – don’t go by the myth that entrepreneurs do everything alone. I would also advise any start-up to take all the help that can be provided. Places like the British Library Business and IP Centre are an invaluable free resource to businesses, offering expert guidance and advice.
What’s the biggest challenge you have faced?
My initial lack of confidence was definitely my biggest challenge. But I knew that I needed to keep going and gained confidence with practice and learning from mistakes.
What’s the toughest business decision you have had to make?
Shutting down my first company was a massive decision, losing quite a bit of money and then having to explain what had happened. The positive of doing this was becoming very humble, and learning that people don’t care if you fail. It’s not about the failure, but learning from it.
Which entrepreneurs do you admire and why?
Peter Cruddas, Founder of CMC Markets, because of his nature and vision. I also admire Damen Buffini, the Head of Private Equity in the UK because he is probably one of the most successful people in that world that you’ve probably never heard of.
What advice can you give Krystal readers and aspiring female entrepreneurs?
Do not get hung up about the fact that you’re female. Use the advantages that come with your gender/race but never see them as an obstacle. In business, there is too much energy spent on negative things when you could be out there succeeding.
Have you seen an increase in female entrepreneurs recently, following the recession?
There is evidence that more women are starting their own businesses. The vast majority of entrepreneurs that we work with are females. We didn’t plan this; it’s just the way it has happened.
Boundaries sometimes push women into becoming entrepreneurs. They no longer have to prove that they’re equal. The beauty of being in business is the level playing field. No external stereotypes just people wanting to give a good service and succeed.
I think that the recession and redundancies have acted as a catalyst and driving force for new entrepreneurs. However, this is hard to indicate as the majority of individuals we work with come from less privileged backgrounds on a larger scale.
What are your ultimate goal/goals left to achieve?
For me, the answer to this is simple; to be happy and to stay happy.
by Pavel Choudhury
