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Home » Business And Finance Articles » Geoff Alexander Interview

Geoff Alexander Interview

An impending redundancy from his well paid corporate job in the banking industry left Geoff Alexander pondering his career direction. Rather than apply for other corporate roles, he used the experience as a catylst to follow his entrepreneurial aspirations.

In October 2004 he established his own marketing company. Out of that he spawned the idea for a separate online company called BeautyandHealth.com...

The Interview.

DS: What inspired you to quit your well paid corporate job and set up the Beauty and Health Ltd?

GA: Well, I had been growing restless for some time, and had been evaluating various opportunities outside my 'day job'; when notified that my position was going to become redundant, this seemed like the perfect time to 'go it alone'. Beauty and Health was one of a several ideas that were brought to fruition as a result.

DS: Did you have any help setting up Beauty and Health Ltd or were you going it alone?

GA: I sought advice from numerous areas and read extensively. I still own 100% of the shares.

DS: What was the biggest challenge you faced in bringing your idea to fruition? How was it overcome?

GA: One of the biggest challenges was the steep learning curve for the everyday practicalities for setting up and running a business, and having to re-learn and apply marketing techniques to the online world.

DS: What makes you most proud about your achievements with Beauty and Health Ltd?

GA: I think the fact that, from scratch, I learnt to build, market, and run an online business.

DS: How did you actually fund your business to get it off the ground?

GA: I set up the company using savings and redundancy compensation.

DS: What attributes make a successful entrepreneur?

GA: A dream or goal, desire, self-belief, tenacity, ability to learn, adaptability, resourcefulness.... to name a few!

DS: What do you believe are the necessary elements for a business venture to succeed?

GA: Timing is important, but you need to have USP's (Unique Selling Points) and a hungry market. Then you need have to have sufficient resources, or else find out how you can access the specific resources that you need to make it work.

DS: How essential do you see a University education in acheiving success as an entrepreneur?

GA: I would say that it is not essential to have a University education to be an entrepreneur; you only have to look at the Rich List or the number of dropouts that have made fortunes! However, having completed an MBA at one of the top schools in Europe, I would have to say that it has given me essential knowledge, confidence and very good contacts.

DS: What are the three most important lessons you have learned about business and entrepreneurship?

GA: There are many lessons that I have learned since taking the plunge, so to name only three is difficult â€" but amongst the most important are definitely: 1) you HAVE to have a deep belief in yourself and be persistent...if something doesn't work out as planned, modify your approach; 2) Be prepared for the unexpected! Often success is determined by the amount of uncertainty you are able to cope with; 3) be flexible in your approach to dealing with problems as they arise â€" the higher your goals, the more obstacles you will need to overcome.

DS: What advice would you give to an aspiring entrepreneur?

GA: You really have to believe in yourself â€" even when those around you doubt you or knock your ideas. Then you need to be persistent, and willing to learn from your mistakes, and more importantly, from others' mistakes.

DS: What's the number one book you would you recommend to aspiring entrepreneurs?

GA: I have read many books that have inspired me, but for an all-encapsulating book I would recommend would be 'Think and Grow Rich' by Napolean Hill.

DS: What memorable mistakes, if any, have you made in business? What did you learn from them and how can they be avoided?

GA: As an entrepreneur, it is easy to think that you have to do everything yourself â€" however there will always be someone more specialised in each discipline you will need to address as a business owner. The trick is to discover how to obtain the maximum output for minimum input, or to become increasingly efficient as time goes on.

DS: What are the best and worst things about being an entrepreneur?

GA: The best thing about being an entrepreneur is the immense sense of freedom that you have â€" the downside to this of course is that whether you succeed or fail is largely down to you!

DS: Are there any other thoughts, insights, or advice for aspiring entrepreneurs that you'd like to add?

GA: Though it sounds like a cliché, I would say that you have to have a clear idea of your short, medium and ultimately 'long term' goals â€" this will give you direction and focus when the inevitable curveballs are thrown your way!

And here is another random article you might be interested in...

Why Life Insurance?

The insurance industry is booming, providing an essential lifeline for the unexpected events in life. Whether its car insurance, home insurance, pet insurance or even life insurance, the insurance industry is there to protect us against the unexpected, and to financially assist in covering the losses arising from these events. It may be easy to understand the concept behind various types of insurance, but one which often causes confusion as to its purpose and function is life insurance. Furthermore is life insurance a worthwhile topic for consideration, and should we be looking to insure our own lives for the benefit of our families?

Insurance, by nature, is designed to provide financial security in the event of some mishap or unexpected event that leads to unexpected losses or expense. Naturally, incidents like car accidents, house fires, vet bills â€" they all lead to great financial loss which ultimately can break the bank for many families living on the edge of their means with a finely balance budget. But what about death? Aside from the funeral expenses of the deceased, insurance can also cover the loss of earnings which would otherwise contribute to the family funding. Suppose the main household earner dies prematurely. This could leave the family in need of childcare expenses whilst the surviving parent is required to work double the number of hours in order to make ends meet. Especially during such a difficult time as bereavement, financial worries can cause undue stress and suffering, and can have a drastic impact on the family situation.

That's where life insurance comes in. Paying into a life insurance policy will mean that should you die suddenly and unexpectedly, your family will have the financial means to cope with their loss, whilst being able to maintain their current financial commitments until they can plan for the future. The benefit of a life insurance policy is peace of mind; the knowledge that your loved ones will be cared for after your death is something which many find reassuring, particularly in households where there is one major breadwinner. Additionally, life insurance policies can be designed to cover the immediate expenses of death, like funeral expenses which can often run into the thousands. By providing a lump sum payment on death, a life insurance policy can ensure your friends and family aren't overly financially burdened on top of the emotional burden of losing a loved one.

Life insurance can often be a tricky area to deal with, and many people find the motivations behind it somewhat morbid. They can often find the concept hard to grasp, and beyond funeral expenses the financial loss of a loved one can be difficult to quantify. However, particularly where there are a number of financial dependents in the household, it can be a great idea to ensure adequate coverage after death, so you can know that whatever happens, your family will be able to financially cope without your earning capacity, and your household won't crumble without your financial input.