WHAT I LEARNT FROM CATH KIDSTON

I was lucky enough yesterday to attend the launch of the first Businessmums' Networking Lunch in Chiswick, hostedby my lovely associate Caroline, and was educated and inspired by the great Cath Kidston. Those that attended, and those that missed out because it was booked out, will know what I mean.

I loved listening to Cath because, first and foremost, she's hilarious, secondly she's very approachable and lastly, because she reminded each and every one of us that she was, and is, just like us and made us realise that there is no secret to success. It's a step by step process and it takes time, energy and passion.

What I learnt from Cath during her talk is that you can be a success focussing primarily on the desire to do something creative with your life instead of the need to make a fortune, and make a fortune in the process! She likened the building of her business to raising a child. She always wanted her child to flourish and didn't particularly care if her child married a rich or poor person.
This attitude to money meant that she resisted borrowing money, grew slowly and reinvested much of what she made. Much like Laura Tenison of JoJo Maman Bebe did (see my previous blog).

Cath also spent a lot of time on her brand and developed a strong idea of what she wanted Cath Kidston to represent; practicality and prettiness. This focus has allowed her to develop a name that is instantly recognisable, understand which products to develop and ensure her market are able to relate to her ongoing.

The last thing she really impressed on me was that it can be scary sharing your business but the only way to achieve success is by doing just that, letting people come in and doing what they're good at. Cath felt that as a businesswoman she needed to be honest with herself and identify the areas she would never be good at, or wouldn't want to do, and farm them out.

Other things I learnt from Cath were:

• Don't make ironing covers out of flammable materials.
• Don't have someone else negotiate orders for you in Czech or you could end up with a pallet of duvet covers.
• Get help with areas you don't excel at, like warehousing, otherwise a customer may get an empty can of Special Brew with their order.

So I'm going to walk away from yesterday's lunch knowing that I am running my business because I am passionate about what I do, that I won't be aggressive financially and it will never be all about making money (or even a little bit) and that I can still be a success anyway. What a lovely lesson to learn x

YOGABUGS MD MOTIVATES MUMS!

I hosted my last lunch of the year today, the Businessmums' Networking Lunch. This one featured yet another amazing and inspiring mumpreneur, Lara Goodbody, MD of Yogabugs.

It never ceases to amaze me just how motivating it can be listening to a mum, even when she works in a field that I personally have no experience with. She outlined her story, how Yogabugs has grown from an idea to an international company over the last six years and educated us with her personal do's and don'ts.

What I am taking away personally is:

1. It is hard work being a franchisor and it takes a lot of time, energy and money.
2. You need to be brutal and be prepared to make the hard decisions to protect your business. This includes letting go of franchisees when they aren't working out - no matter how lovely they are.
3. You can't let an investors interest in your business go to your head. You still need to maintain your own vision of your company and future and don't compromise it for anything.
4. Don't just go with the first investment opportunity that comes along, wait until the right one comes along for you.
5. As a Mum, be prepared to be breast feeding and typing on your computer with the other hand. If you want to be a success you may not have the luxury of taking maternity leave from your business.
6. Turning down finance on Dragon's Den can sometimes be a good thing. Lara did this and the resulting coverage was better than taking on the offers.
7. Being available to speak at events and answering questions is a great way of securing your success and having a whole lot of mums think you're fab!

There was also plenty of inspiration and information from my attendees:

Christina Waite of Fat Free Mama (www.www.fatfreemama.com) not only helps mums lose weight and stay in shape but also offers busy mums recipes and shopping lists which I think is ingenious!

Emma Hammett of First Aid for Life (www.firstaidforlife.co.uk) is achieving her business dreams whilst maintaining her integrity and beliefs.

Stephanie Hughes of Pilates Formation (www.pilatesformation.co.uk) proved to me how important it can be to have a website - she gets most of her business from her site - and she built it herself!

All in all a great day - and it inspired me to get home and get working on my own business!