Advertise on podcast: Michael Crane Podcast

In this month’s show, Michael and Simon are talking about the lessons we can take from history and the opportunities that we face today. Why is learning about history so important? History gives us a very clear picture of how the various aspects of society — such as technology, governmental systems, and even society as a whole — worked in the past so we understand how it came to work the way it is now. WHAT WE CAN LEARN IF WE LOOK BACK IN TO HISTORY? * Why is learning about history so important today?* Can we learn anything from 100 years ago, compared to today?* Pumping cash stimulus to keep the economy stable* Why looking at history can be helpful for business owners?* Final Thoughts why is learning about history so important today? They begin by talking about the opportunities that we face today and what we can learn if we look back into history. Michael mentions the Spanish flu outbreak, how many people died during this time and what happened 10 years later. He then asks Simon why is learning about history so important to which his friend replies that the start point is to see if we can learn from history; if we can learn from history, it might help us to have that hindsight to make better decisions. Can we learn anything from 100 years ago, compared to today? For Michael, it seems that certain things are repeating themselves and the main question is how does this time help us reflect and learn the lessons that people 100 years ago were experiencing?Based on events such as the First World War, The Spanish Flu and The Great Crash of 1929 Michael believes that this current episode is different. At that time we had less money in our pockets, the government were buying weapons or producing manufacturing weapons but now, the government have bailed out the population by offering furlough and grants and loans. So even though these events hold similarities, the wealth distribution is so much more different. Pumping cash stimulus to keep the economy stable For Simon, it’s a better way of doing it than before. Because before, if you didn’t do it, you cause this deflation, which causes mass unemployment, and all the complications, problems and all those horrible things that society faces through history. Whereas pouring stimulus into the economy, is like putting a pump into that blow-up bed, you’re pumping, and the bed is getting bigger and bigger. It causes inflation which, in Simon’s opinion, is better than deflation. why looking at history can be helpful for business owners? In Simon’s opinion business owners need to look ahead three to five years from now to start thinking about what might happen in the next years, run some scenarios (What’s the worst-case scenario for my business? What’s the best-case scenario?) sit down and spend some really good quality time and draw that classic SWOT analysis, looking at the strengths and weaknesses, the opportunities and the threats, and really hone in on that threats box to see where can they deal with those threats right now and turn those threats into potential opportunities. Because if they’re a threat for your business, there’ll be a threat,

Sales process is a structured routine of actions that facilitate integration between sales and marketing and this will be the topic at today’s episode of the M&S monthly podcast show where Michael and Simon will be speaking about this process, what should it consist of and where should you be putting most of your energy. Index: * The Struggles of 2021* Sales optimization* How do you leverage your client to sell them more?* Retention* Recap The Struggles of 2021 Michael starts the conversation by talking about the real struggles that we’ve had during 2021, how it’s been a challenging year and also mentions his suspicions of a possible 2022 flavoured with what we’ve had in 2021. Simon talks about how the pandemic is proving catastrophic for businesses, not only because of the illness that comes with it but also because of the lack of government foresight and knee jerk reactions. The duo agrees on the topic and Michael mentions that you need to be nimble and flexible regarding business while Simon recommends SWOT analysis when things need to change overnight. Regarding the lessons learned from the past year, Simon says that the main lesson for him is understanding that we can pivot our business if we’ve considered the different scenarios on which the business is trading and where the economy is going Sales optimization Sales process can provide amazing results and with the use of the correct tools can attract and convert new customers all at once. Simon believes that acquiring and implementing the right systems to take away a lot of the manual work that he has to do, as also bringing in good people to his business are the things he will be doing differently this year. To make sure that we identify within our business, what are our strengths, not just the strength of the business, but our individual strengths as owners and employees. In his words “we cannot survive as a business without a really good, strong, robust sales process. And our sales process also has to be nimble and flexible. Because if we keep a rigid process when the world is ever-changing, then we’ll get stuck.” In his opinion, the conversion lies in the speed of response, how quickly we’re able to communicate back with that client to really understand what they need. Focus on spending time with that prospect, asking the right questions, so that we’re able to provide the clients with the right solution, they are much more likely to convert with the speed of response, at the right solution. how do you leverage your client to sell them more? According to Simon, the key to it all is that the client is in a place where your service is being enhanced. And the most important thing is making sure that we’ve got a means of communicating with clients. Are we communicating regularly with our clients so that they know exactly what we do and how we’re doing it? Retention Regarding Sales Process, in Michael’s opinion, business does not put enough emphasis on this area because they’re either great at converting winn...

Harlequins Rugby Club, the analogies between sport and business are commonplace. We talk about being at the top of our game, we toss ballpark figures around, we put the ball in someone else’s court. We have teams and coaches.   In this podcast episode, Michael’s guest is someone who was a professional sportsman and has now transitioned into the world of business and finance. He may not use all the analogies, but he does talk about the lessons learned and how he now applies them to his new career.   Toby Freeman was a professional rugby player, who ended his career at a high point – playing for the Harlequins.   Index: * Second Career – Life after sport* Persuing Goals* Rugby Club: Lessons About Leadership* Financial Education For Entrepreneurs* Recap Second career – LIFE AFTER SPORT Unlike many professionals who expect their career to last their entire working life, sportspeople know that they will retire at a relatively early age. Toby had already begun to think about what direction he might go in a couple of years before making the move. He and Michael talked about the process he went through. There were some clear phases he went through from not wanting to think about retirement, to realizing he needed a plan but not knowing what that was, to having a plan and taking action. Pursuing goals  Some people have a clear dream of their ideal life from an early age and pursue it. Others develop their dreams more gradually, or maybe even accidentally. But once you know what you want to do, the direction you want to go in, you need determination and persistence to achieve it. As Toby says, “If you’re stubborn enough, for long enough” then you can achieve a lot. For him, that meant a place in the Harlequins, playing top-level rugby.   Now he’s applying a similar ethos to developing his second career. He knows it won’t all be easy or plain sailing, but his experience of putting in the work in sport is standing him in good stead now that he has turned his talents to financial planning. rugby club: Lessons about leadership  The success or failure of leadership is very clear in sports. It can be measured in goals scored, records beaten, championships won or lost. Toby talks about the lessons he learned as a younger player, watching more established players, watching the coaches, seeing what worked and what didn’t. Now he coaches in his spare time and he’s able to apply these lessons practically on the rugby pitch. But how do they relate to business in general and his work in particular? Listen in to hear more about how he applies important lessons from his past to help him with his current role. Financial education for entrepreneurs Michael shares with Toby some of his own experiences about financial education, and they talk about the importance of taking ownership of your own financial future. Toby is clear that there are no one-size-fits-all solutions for his clients. He is always keen to listen to them talk, not just about their current situation, but about their hopes and dreams for the future. Each person is unique,

This episode of the one-to-a-million podcast (how to become a millionaire) is very different to what has gone before. For a change Michael Crane, the podcast host, finds himself in the guest seat, being interviewed about his own business experience, and the reasons behind the show.  Index: * What’s the first step to becoming a millionaire?* Is it possible to make millions of money from your bedroom? * Do you need a six-figure income to be a millionaire?  * One To a Million Project – The Young Entrepreneurs* Is it possible to become a millionaire without going to college?  What’s the first step to becoming a millionaire?   This question reflects the origins of the show, and Michael shares his insights on making money. While having a successful business is a major step in the process, there are some savvy ways to make your money work harder, grow faster, and give you an enviable lifestyle quicker. Michael talks from his own experience—early mistakes, lessons learnt, and his current successful approach. He shares it all, providing useful insight to anyone who has their eyes fixed on that goal.    Is it possible to make millions of money from your bedroom? When asked about the right and wrong way to start a business, Michael’s answer was simple. The only wrong way is to not get started. His own experience was to start from his bedroom. Short of space and short of money to invest in a rented office, he had no choice. He talks about some of the lessons he learnt, and how young entrepreneurs can benefit, not just from his example, but also from his experience of how to do things differently. He knows that if he started the same business from scratch now, he’d be more successful in a lot less time. Do you need a six-figure income to be a millionaire? Michael has a strong belief that anyone has the potential to be a millionaire, if they have the right attitude and the right tools. While he can’t do anything about your attitude, he is here to help you with the tools. He talks about money management, about how to make your money work for you, and not the other way around. He talks about the power of money to make money, and how to get started down that track, even if you think you’re not yet in a position to do so. Listen in to find out more about his methods and how you can apply them yourself. One To a Million Project – HOW TO BECOME A MILLIONAIRE The one to a million project was conceived to help young, aspiring millionaires to get started in business, and equip themselves with the knowledge and tools to make their first million. The idea was to take them from zero, not even a business, and help them from the ground up. From coming up with business ideas, through all the stages of creating and building a business, to compounding their income and reaching that magical six zeros.   As Michael explains,

Latest Networking Insights: Michael and Simon have been recording the M & S show for a while now, and each episode brings powerful information and insights to the entrepreneurs who tune in. This month is slightly different. The episode was recorded, live, at an event, providing Michael and Simon’s unique blend of expertise and business wisdom not just to the podcast audience, but also to the entrepreneurs in the room at the King’s Summit in Kent, United Kingdom. Index: * The King’s Summit* The Power of Networking* New networks* Recap: Latest Networking Insights The King’s Summit A summit is an annual event for business owners and entrepreneurs. This year it was back to being an in-person event. For many of the attendees, including Michael, it was the first in-person business conference they’ve been able to go to in more than eighteen months. This made it extra special. The Power of Networking Michael and Simon talk a lot in this episode about the support group you need to form around you when you are in business. And these groups can arise in different ways and serve different purposes. Whether it’s purely a networking group, with a primary purpose of helping members acquire more business, or a mastermind group, or what Simon refers to as a mentoring group. Different groups for different purposes. And Simon explains not only the benefits of having a group of some kind around you, but why that’s so important, and how to get the best from it. Simon and Michael discuss the highs and lows of being in business on your own. What are the stumbling blocks? What are the low points that bring you to the point of giving up? What are the tools, tips, and reasons to motivate you to keep going? They talk about one of their old adventures. How did they cope when the going got tough? What kept them—literally—climbing the mountain? How did they reward themselves at the top? Through all of the discussion, one theme reoccurs. People. The people around us can lift us up or push us down. There are people in our lives who are our motivational force. There are people who are our role models, cheerleaders, teachers and mentors. Michael reveals how lonely he found the first few years. How much he wanted to have people he could learn from and share with. This is a major underlying motivation for the Michael Crane Live Podcast. The desire to reach back and be there for other entrepreneurs. To offer them the help he wishes he had. And of course, taking advantage of new technology makes it possible in a way that wasn’t available twenty years ago. New networks In business, as in any other endeavour, it is important to have the right people near you. And Simon shares his thinking about some ways in which you can achieve that. Right there, live in the room, new networks were being formed. Group leaders were being identified. People were being offered the opportunity to leave the conference with a new vision, new tools, and a new support group to help them implement.

ADHD in Adults: Are you an entrepreneur? It’s a word we hear a lot, not least on this show. But it’s a word that can mean different things to different people.  Michael’s guest this week is Marge Brown, and among the other topics of conversation, she shares her definition of what makes someone an entrepreneur. Marge and her husband, Bruce, work together on their business, now, but that wasn’t always the case. The story of how to combine successful business ownership with raising a family is not uncommon, but as a couple, they found their own unique path which has taken a number of twists and turns. Index: * From teacher to entrepreneur and back again* Decisions, realisations, and lessons* The entrepreneur’s answer to a new situation* Recap: ADHD in Adults From teacher to entrepreneur and back again When they were first married they were both teachers. And that legacy has come through in the businesses that they are now running, but it is more like coming full circle rather than following a straight line. Along the way, they have learnt a lot about themselves and each other, about dealing with other people and about how to run a business. They have gone from various forms of selling their time (and hard graft) for money to being more successful at that by defining a niche, to the point now where they are teaching other entrepreneurs how to create a business that works. Decisions, realisations, and lessons Looking back along the journey she has taken, Marge is able to identify specific turning points for herself, and for them as a couple. She shares with our listeners the decisions that they took at each moment, and what the business or life lesson was that they learnt at that time. One of the biggest moments was when Bruce realised that he suffers from ADHD. This was a transformation for them both and for their relationship. Although the diagnosis didn’t come until relatively late in life, Bruce had already created a successful career for himself as a freelance content writer, well known in his specific niches.  In fact, it was because of his work in one specific niche that he discovered his ADHD. Once the diagnosis had been confirmed, Marge and Bruce set to work to understand the condition, and how they could make changes that would improve their lives. The entrepreneur’s answer to a new situation In true entrepreneurial fashion, they didn’t sit back and wait for others to do the work for them. Now they are building a programme to help other ADHD in adults sufferers understand how to live a more comfortable and satisfying life.   This programme is just about to launch, and Marge was delighted to have the opportunity to explain to Michael how it will work. They have invested a lot of time, and their combined expertise and experience into creating something that will provide practical support and help to people of any age who have ADHD. This is in addition to the already successful content writing programme they run, showing aspiring freelance writers exactly how to create a successful business.

Have you ever wondered how to take the raw ingredients of a business and mix up a delightful success?  This week’s guest, Lorraine Dallmeier has some great ideas to share based on her own experience of building a small side hustle into a multi-million-pound business. Index: * A kitchen table enterprise* The science bit* Bringing more to the table* Business models* Recap: Side Hustle Business A kitchen table enterprise As a botanist, Lorraine is a specialist in plants but her early career as an environmental consultant took her away from the green growing variety and increasingly into contact with plants in the form of heavy industrial equipment. Whilst on maternity leave, she impulsively decided to create an app to show people how to make their own beauty products from fun natural ingredients.  She outsourced the coding but provided all the content, as well as successfully creating a following on social media and her blog. Her spontaneous brainwave proved very popular and from this small beginning, she realised that there is a huge demand from people who want to create their own products, whether purely for fun or to be completely in control of the ingredients. It was time to take the enterprise more seriously. The science bit Lorraine started studying the science of formulation. Although she knew a lot about plants, she didn’t know much about the beauty industry. While we often think of beauty products in scientific terms, something created by people in white coats in sterile laboratories under controlled conditions, Lorraine wants us to think more in terms of cookery.  We should be more confident about making our own products at home, just as we feel able to cook our own meals. We can even grow our own ingredients, just as we may grow our own vegetables. Lorraine was ready to move forward, to challenge the accepted industry norms and empower individuals to go D-I-Y. She had a vision for the future of her business and its place in the world—an essential ingredient in the success of any entrepreneur. Bringing more to the table Like any business owner with a clear vision of the goal, Lorraine needed to find a way to make it happen. She was able to acquire the school she’d studied with, which at that time was very small. But like any plant in the hands of a botanist, she was ready to help it grow and flourish. While the school still offers introductory courses to allow students to mix up their own face cream on their kitchen table, there is now much more on offer.  Like any other successful business, it has had to evolve to keep up with the demand of its clients (students).  And now many graduates are creating their own successful businesses, reaping the rewards of the seeds Lorraine planted. The tuition provides them with everything they need to know to create, not just excellent, unique products, but an excellent and unique business. Business models Lorraine provides listeners with plenty of information...

Peer to Peer networks is the secret recipe to building a strong resilient business. And, this is the topic of our conversation on today’s M&S monthly podcast show. This episode brings not only the usual mix of insights and practical tips but also news of an exciting business event that will be of interest to any entrepreneur. Index: * The Lonely Road* Peer to Peer Networks Support & Friendship* The Role of the Entrepreneur* Recap The Lonely Road Michael starts the conversation by talking about his early business life, and how hard he found it without the right kind of support and guidance, and the lack of a peer network he could turn to. Simon brings the insights gained not just from years of providing support to businesses in a number of different roles, but his own experience of going through the process of starting out. Since the last show, they continue the journey of walking and talking. They are currently undertaking the Pilgrim’s Way—a walk from Southwark Cathedral – London to Canterbury Cathedral – Kent and have just completed stage three. In the podcast, they reflect not just on some of the conversations they’ve had along the way, but also on how valuable the process is. By making a commitment to themselves and each other to get outside, into nature, they are creating an opportunity to ground themselves, to get away from their desks and be able to get a new perspective on their businesses and to be able to give and receive support from each other. Peer to Peer networks Support & Friendship Peer to peer relationship(s) is very important to Michael. It is built on trust and the sense of being on the same wavelength with your friend, walking partner, business collaborator, you can call it a number of things. They take time to listen to each other, and they value the other’s skills, talents and insights. On today’s show, Simon talks about the King’s summit, a business conference unlike any other. Simon is one of the founders of this event, which is now in its fourth year. He shares the reasons behind the creation of this event and explains why it has been designed to be different. There is a parallel between the way they connect and support each other, and the wider reach of the King’s Summit locally and nationally.  This year’s theme is about “Nets”, and it’s partly about creating networks—attending an event where you will be able to really connect with other business owners and start looking at building your business in a stronger way.  Simon has a different perspective on the meaning of networking, so listen in and discover the insight he shares on his interpretation. In addition to hearing some great speakers at the summit, at the event, Simon is keen to help people build their very own Peer-to-Peer Network with others in the room. 

In today’s episode – Your Best Foot Forward, Michael is in conversation with Sarah Gittins, an inspirational business owner who shares her journey to success and provides great insights for anyone wanting to create or grow their own business. Index: * First Steps* Making Progress* Next Steps* A Step Back* World Stage First Steps Starting out in business, it’s easy to downplay what we do. We pigeon-hole ourselves, and focus on the job, rather than the business. In Sarah’s case, she’s a dance teacher and it took her a while to realise how much more there is to creating a successful business than just standing in front of a class and teaching. As her business grew, she continued to think in small terms of “just” being a dance teacher. Until she had a moment of revelation, which was all about mindset. We can “just” be a… whatever it is our business does. Or we can run a business that provides that product or service. So her first leap in changing her way of doing business was to change her thought pattern around what it was she did. This is one of the many insights and tips that Sarah shares with the audience. Making Progress Gradually, over the next few years, Sarah learnt more and more about how to create and run a successful business. She understood how to build on strong foundations, and what would happen if they weren’t in place. She’s clear about what you need to put in place in order to have that strong foundation. Ideas that puzzled her in the early days, like marketing to an ideal client, became really obvious. This enabled her to build a successful dance school, that has multiple venues, hundreds of students, and employs other teachers. Next Steps As her own business grew, and her knowledge and understanding of business practice grew alongside it, Sarah discovered she wanted to help other people in her niche. As with any business, though, a lot of what she has learnt, and the lessons she shares, can be applied more universally to any business. In the beginning, she wanted to give everything she learnt to others, even while she continued to learn, both through formal study and practical experience. Now she’s more methodical, having reflected on the process. Sarah talks about the importance of having the right information at the right time, but not being overwhelmed by information overload, or constantly distracted by the next great idea. Just as she didn’t understand the concept of ideal client initially so trying to implement strategies that built on that idea would have failed, so any business owner who doesn’t have the basics, to begin with, will fail to effectively utilize more advanced strategies. A Step Back The pandemic hit so many businesses very hard. And businesses that are built on in-person interaction, such as dance classes, suffered. Alongside that, other parts of the arts industries were equally hard hit with the lack of live performance opportunities. Sarah managed to find her own way through these difficult times. But it also gave her an opportunity to take a step back and reevaluate what she does, how she does it,

In this episode, Michael is in conversation with King James, the pastor of Favour House Church. It may seem that he is an unusual choice of guest for a business podcast, but if you listen in you’ll find out why his message is relevant to leaders in all walks of life. Index: * Knowing your purpose* Feedback and adaptability* Recap – Leadership in Different Settings Knowing your purpose Whether you are running a business or leading a charitable or voluntary organization, leadership is still important, and there is much that can be learnt from one environment and transferred to another. Especially, during recent times, when passionate, empathic leaders have been desperately needed.  King James talks about his purpose. And in business, we all need a purpose. We need to know why we do what we do, in order to keep moving constantly in the right direction. King James’ purpose is very clear. He believes passionately in what he is doing, and the reason for it. This clarity of vision not only drives him but enables him to lead his congregation. They can get behind him and support him because they completely understand what he is striving for. Often in business, especially in the early years, we can get so bogged down in working IN our business, that we lose sight of our purpose. And that means it’s hard for our network to support us. Because we’re not communicating clearly with them. He goes on to talk about how he uses all the tools and skills available to follow his purpose. King James believes passionately that it doesn’t matter if you start small if you start with nothing. If you have a vision and are prepared to work hard, you can achieve what you are called to do. In his case, unsurprisingly, he is called to spread the word of God. His calling is to grow the awareness and love of Jesus Christ. But that won’t happen by sitting back and wishing for it, any more than an entrepreneur can grow a business just by dreaming about it. When asked about his leadership style, King James is very clear. He doesn’t put himself above others. He uses the style known as servant leadership, prepared to give his own time, his own skills and knowledge to not only grow his congregation but to care for them, to enable them to do their best work too. And this idea of enabling others to do their best work can be applied equally to running a commercial enterprise as it is to the voluntary sector. Feedback and adaptability Another quality that he values is flexibility or adaptability. He talks about how important this is, especially in recent times when so much has needed to change to cope with the pandemic, but also in more general terms, too. Being able to think creatively, to approach old problems with new solutions is a hallmark of a successful leader, in any sphere of life. Once more, King James illustrates how knowing your purpose, always working towards it, enables change. It enables you to find ways to achieve your mission in spite of obstacles that might occur. In the case of the church, it meant they had to find new ways to serve their community when in-person contact was no longer possible. He makes the point that organisations – whether businesses, churches or any other type – need to be able to a href="htt...

In this episode of the show, Michael and Simon are once more embarking on a long walk. Having completed the South Downs Way, they are now following the Pilgrims Way from Southwark to Canterbury. This is the trail immortalized in Chaucer’s Canterbury Tales but was a well-used pilgrimage route before Chaucer and his companions made it famous. Index: * History and Geography* Routes and Maps* Groups and Gurus* Kings Summit* Recap History and Geography This walk is very different to the previous one, and Simon and Michael reflect on the similarities and differences of walking these two well-known paths.   The Pilgrims Way offers greater diversity in the environment they walkthrough. For one thing, there are more obvious signs of the history of the route, and of the country. Michael and Simon consider the impact of history on the present day, and how we can draw lessons from the past. They discuss what the route, and the experience of walking it, might have been like for those pilgrims centuries ago. The historical sites and green spaces are broken up by industrial parks, a clear change from that long-ago experience. Routes and Maps Another big difference is the need for a map. The South Downs way is clearly signposted throughout, and it would be almost impossible to get lost. But the Pilgrim’s Way isn’t clearly marked, so they needed to refer frequently to the map. This led, of course, to a comparison with business. Many business owners find themselves going off-track, and they may not have a clear map to refer to recover their direction. Simon shares some great insights and pointers for how business owners can create their own map, and how best to use it to their advantage. Each time they veered off the path, they would realise, consult the map, and get themselves back to where they needed to be. But that is not the only lesson to be drawn from this. There is also the fact that they were walking this road together. Groups and Gurus In the early days of setting up and running a business, entrepreneurs can feel lonely. They don’t know where to go for advice, or who to trust. They may turn to the so-called business gurus for help, but while many of them offer great information, they’re not all as good as each other, and it’s not always easy to tell them apart. Michael talks briefly of his own experience. Simon is a great proponent of groups. Not just networking groups, but peer-to-peer support. He refers to a fantastic historical example that included some stars of the business world and then goes on to talk about how people can access this kind of support today. The benefit of a peer support group is that it grows into a tightly knit unit, where each member supports the others, cheers them on, celebrates their success, and offers practical support and advice to help solve problems. There are a number of opportunities available to get involved in this, or similar activities, sponsored by the government. Listen in to hear more details. Kings Summit Simon also talks about the King’s Summit, an annual business event that he runs. This year, they are back to meeting in person,

Bottom-line profitability In this episode, Finn and Michael talk about Finn’s latest thinking and insights about the business he is planning. Despite being on holiday, Finn’s business brain is still working hard, a situation most entrepreneurs can relate to. A lot of the work that goes into a business, particularly in the early stages, is mental. We dream, plan, and learn. Index: * Playful learning* Business Questions* Beware of bargains* Market research* Recap Playful learning In Finn’s case, he has been combining work and play and looking to see how he can learn some business lessons from the products and services he uses himself. And the first of these is how he uses his PS4. He talks about the attraction of subscription models for both consumers and suppliers. He then continues on the topic of games and gaming, by comparing the new and second-hand markets for games and accessories. He is beginning to reflect on his own experiences and those of people he knows. He’s starting to understand how companies spot the profit potential in different markets, and what they need to do in terms of advertising and building their reputations in order to create a viable, sustainable business. Business Questions Finn has a lot of consumer experience, and he is beginning to put this to good use in thinking about his own business. He is asking himself interesting questions, such as ‘What makes a good product?’ and ‘How do companies promote their products?’ but also, maybe more importantly, ‘What makes a good business?’ He’s becoming more aware of, for example, the power of reviews. He explains how he, as a consumer, will use reviews when he is considering a purchase and reflects on how they can affect the business and the bottom-line. Beware of bargains In recent weeks, Finn has begun experimenting with using some popular well-known online sales portals to find out what works and where things can go wrong. He has both bought and sold; he has looked into different portals and their strengths and weaknesses, and he has both made a profit and lost out to a scammer. He has learnt some valuable lessons from his successes and reframed ‘failure’ into a different learning experience. He discusses the old saying, ‘If it’s too good to be true, it probably is.’ While we all love a bargain, sometimes we need to evaluate how much of a bargain it really is, and this ties in with his earlier observations about reputation and the need to create repeat business and referrals, increasing the bottom-line. It has also raised his awareness of terms and conditions of sale, purchase, delivery, guarantees and refunds. All important elements that he will need to build into his own business model.  Market research Finn has already begun thinking about how he can make sure his business will be successful from day one. An important part of any business venture is to be sure there will be a market for the product you want to sell. Finn turns this around and is finding out what people want to buy.