The difference was the audience. It wasn’t a gathering of
fellow businessmen and women - listening intently were 12 and 13-year-olds.
The speaker was Jonathan Elvidge, founder of the pioneering
Gadget Shop and now owner of RED5, one of Britain’s fastest-growing private
companies. His audience came from Hull’s Malet Lambert School - youngsters who
have already expressed an interest in starting a business, despite their tender
years, or who plan to take Business Studies at GCSE. They had been brought
together by the school’s Business Champion Stephen Logan and the For Entrepreneurs
Only (FEO) group.
FEO is made up of 70 entrepreneurs who have built successful
businesses in Hull and the East Riding and are committed to sharing their
experience and wisdom to help others to create wealth and jobs. A key focus is
on education and inspiring a new generation of business owners, hence a series
of FEO days for local schools featuring members of the group.
So to the Malet Lambert FEO day, hosted at The Exchange
educational hub, created by the Hull Esteem consortium, which is transforming
the city’s schools through the Building Schools for the Future programme.
I was familiar with some of Jonathan’s story but I hadn’t previously
heard him talk, with such understated passion, about why he launched his own
business, what he had learned and why others should follow his example.
Jonathan gave up a steady and secure job with telecoms
company KC to fulfil his dream by launching The Gadget Shop in Hull’s Princes
Quay Shopping Centre 20 years ago. The business grew so fast that, at one time,
it was valued at £40 million, before Jonathan lost control, the business was
sold and then, after he left, it collapsed.
Undeterred, Jonathan bounced back. With a business partner,
he launched RED5 - billed as “the ultimate gadget shop”, with high street
stores and concessions across the UK and a growing online business.
The highs and lows of Jonathan’s business career were
fascinating. He admitted he just missed an opportunity to sell his Gadget Shop
shares before the business began to tail down, but said he had no regrets: “I
wouldn’t change a thing - the ups and downs are all learning experiences”.
But of even greater interest were his words of advice to his
audience of potential entrepreneurs. He urged them to do what they are
passionate about and to ignore the “energy vampires” who daren't take risks and
hate to see others strive to fulfil their dreams. Success comes from having a
great idea, the passion and belief to bring it to life, and the courage to act
upon it. “What you conceive and believe you can achieve”, he says.
He told the youngsters he wasn’t suggesting they should all launch
into business straight from education, although some might want to do just that.
But he did want them to believe that they too could turn their idea into a
business, at some time in their working lives. “You can do it,” he urged. “Don't think it's
for other people. Keep those ideas in your head and, when the time is right, go
for it”.
His final pearl of wisdom was powerful. “Companies like Google, Facebook,
Apple and Microsoft were all started by young people with an idea and a vision,”
he said. “They changed the world. Who’s to say your ideas couldn’t, too”.
So true and what a thought-provoking message for young people in Hull to
hear. I am sure that very few, if any, of the audience will forget Jonathan’s inspiring
story and his words of advice. For some, it might just be the spur for them to
strike out on their own and create their own business success story.
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