Theo welcomes over 1000 small businesses to Birmingham for the annual #SBS Event
The event sees Partners, businesses and guest speakers take a day out the office to network and hear advice. A jam-packed agenda of breakout presentations and a whole range of sessions from building confidence to potentially building the next billion pound business.
Kypros Kyprianou, Theo Paphitis Retail Group CEO, opened the event talking all about the community of #SBS.
He said: "#SBS has become one big family, you get advice, you network, you get exposure, you collaborate and SO MUCH MORE!"
"Take time to network, nurture those relationships, they will help you in more ways than you know - both personally and professionally."
Kypros spoke about how he started working for Theo, when he worked at the Bank and built a good client relationship with him. It really is all about putting yourself out there and networking.
From sisters winning #SBS with their businesses, to parents and children winning and even a wedding between two people who met through #SBS, it really has been an extraordinary 15 years of growing this brilliant community.
Theo Paphitis takes to the stage
Theo reflected on 15 years of #SBS, which started with an idea at his kitchen table. There are some pretty amazing stats about the network of #SBS:
Being a winner means you are in the 1% of all businesses who enter.
52% are solo traders, which is why the community of #SBS is so important. To be able to message someone, pick up the phone or ask for advice.
There are over 4000 businesses in this network now!
Key takeaways from the man himself:
We need optimism as entrepreneurs! 73% of you said you were feeling positive in our survey. That doesn't mean bet the farm, you must listen to the facts. Don't go blindly into something, always do your homework, but optimism is vital.
59% of #SBS businesses have been running for 5+ years. The national statistics show that 50% of small businesses fail within the first 2 years. That means #SBS businesses are far more successful than the national average!
Things don't work out sometimes, it doesn't mean they are a waste of space. They were not wasted, they are part of the learning process - so pull up your bootstraps, use the experience to make sure you don't make the same mistake again!
NatWest Business Accelerator Session
NatWest’s Debbie Lewis, Junior Beaman and Harinder Kunor led a fantastic session on the power of confidence.
Key takeaways:
Confidence starts with your mindset
If you have a fixed or a growth mindset it has a direct impact on the things you can achieve.
Whether you think you can, or you can't, you are probably right!
Some homework: check out the 'I Am Remarkable' global movement and remember:
"It is not bragging if it's based on fact!" Go out there and show off your business.
Google - Digital Upskilling
A Google Digital Garage panel session led by Kristie Kavanagh with #SBS Winner Rhea Freeman and Founder of Whizzer, Zoe Chapman.
The session covered everything from digital courses, social media and the use of AI.
Key takeaways:
Commit to learning and developing, be inquisitive about courses available. Look at Google Digital Garage Courses for information about things such as SEO, design, ideas and next steps for your business.
Social Media can open up different avenues and allow you to reach new markets.
AI - for those who may be intimidated by it, experiment and try different prompts. Learning now will help you save time in the future.
Benefits of AI include time saving, condensing material and being able to communicate in your tone once you have enough practice.
Google Career Certificates include one on prompting techniques for AI.
Always remember that you are your brand - whether in the digital space or in person, you are representing it and selling it, so make the most of it!
If you don't know something - there will be a course or a tool out there to help you.
Imran Hakim - from iTeddy to the Hakim Group
Theo was reunited on stage with Imran Hakim, who he invested in on Dragons' Den 18 years ago. The iTeddy also turned up and loved his moment on stage! Imran spoke candidly about his journey and his key advice for small business.
Key takeaways:
A superpower of small businesses is adaptability and agility - something big companies struggle to do.
Passion is something you have for your business or your product, but your customers need to feel it too. You need to ensure that passion comes through in everything you do.
Surround yourself with positive people - they will energise you when the chips are down.
Find your people, your tribe, that will get you out of bed in the morning.
Have values and truly live by them. Recruit people based on those values and you will find your people.
The Hakim Group has set values:
H - Honesty
A - Ambition
K - Kindness
I - Industrious
M - Meticulous
What are your values and how do you show them through your business?
Jo Tutchener Sharp, founder of Scamp & Dude, tells winners about her journey from brain surgery to brand founder
Jo spoke movingly about how she found herself in a hospital room being told she had had a brain haemorrhage and the terrifying thoughts she had go through her mind about leaving her children without a mum.
One of the questions she asked herself was: "How will I be remembered if this is the end?" She vowed that if she survived her brain surgery, then she would do something to help others...and that she did!
She thought about what would have been helpful for her when she was in the hospital and how she wanted to be there for her children. The idea of a superhero with a pocket for a picture to show them that she was still with them. She launched the toys and for every one sold, one would be donated. Alongside this, she started a clothes line, infused with super powers. The slogan was "a super hero has my back."
Next came the super-scarfs - for every scarf sold, one is donated to a woman going through cancer treatment. Her aim is to give a scarf to every woman who begins their cancer journey.
Key takeaways:
Don't get hung up on turnover - it is profit that is important.
Careful what you wish for with growth! She wishes she had kept it a bit smaller to begin with.
Businesses copying your brand: pick your battles on which ones will actually damage your business. Focus on your brand and your story.
Jo talked about the benefits of creating a community for her brand, called "The Duders".
She wishes she had employed someone sooner - she was packing orders until 2am when Liberty asked her about her next collection, she realised she needed to get people on board to help.
You have to give your business your absolute everything.
You have to make sacrifices in order to be successful. You are either in it or you're not. You have to make sure your idea is worthy of that time. The WHY is important.
The purpose is not a tick box, its about what good do you want to do - make it authentic!
Fireside Chat with Richard Harpin, Founder of HomeServe
At age 4 Richard saw a helicopter land in the back garden of a big house near where he lived - he turned to his dad and said he wanted to go in one - his Dad said he needed to own his own business if he wanted to afford a helicopter. It was that moment that he attributes to becoming an entrepreneur.
The interview covered his highs and lows in business, including the moments where it looked like the business was not going to survive and yet he says:
"If it's your life's dream, you've got to find a way through."
He shared his eight secrets to building a billion £ business. To finish a great day, Theo and Richard answered questions from the #SBS Winners, sharing their expertise and knowledge from their journeys in entrepreneurship.
