Ask Mike

The "Ask Mike" section features articles published in the Financial Times, where readers have a chance to ask a question and Mike Southon offers help and solutions. Click on the "Read more" links below.

To ask Mike a question, click here >

Be local and reliable

Q: I am in the process of starting a new business and finding it difficult to find adequate finance for my start-up needs and wondered what options were available as my local area does not have any grants to help people start in business. I am a parent of two children living at home with my husband. I cannot work due to disability and my husband works full time. I am at the stage of reaching my limit on my overdraft and things are getting very hard. I wondered if there is any help as I am willing to work hard starting a business and it seems the only option open to me at the moment. Read more >
Published in the Financial Times: 24th February 2007

Hold out for what you believe your business is really worth

Q. When approached by either an investor or a buyer are there any industry rules of thumb that govern how the perceived worth of the actual brand is calculated over and above the hard financials of a business that is very much brand led? Rosie and Guy Hayward, The Groovy Food Company. Read more >
Published in the Financial Times: 27th January 2007

Wake up and smell the coffee, Christmas is for working too

Q. I run a London-based PR agency. Christmas and new year are a busy period for us, but several of my staff don't want to work over this period. How do I manage this effectively? Read more >
Published in the Financial Times: 17th December 2006

Is it best to acquire or to expand organically?

Q. I run a young fast-growing PR business, based in London. I am thinking about expanding into other UK cities, but is it best to acquire or to expand organically? Jim Hawker, Threepipe Communications. Read more >
Published in the Financial Times: 25th November 2006

A series of well-understood techniques, not a ‘black art’

Q. I am business development manager for www.fivestarshoppingonline.com, an internet shopping search service. The success of websites like ours rests firmly with the search engine optimisation specialist, but it seems one almost has to become an expert in this area before you can assess the suitability of one provider or another. What is the best way of finding a technical expert like this? What are the red flags that we should be aware of? Mark Oxlade, www.fivestarshoppingonline.com. Read more >
Published in the Financial Times: 7th November 2006

Think about value-added services

Q. We have a team of people who are constantly ringing venues to collect new data and now we are live, venues are contacting us to give us information about their venues. What we don't know how to solve is how to find out about new venues in new sites in order to ring them and collect the data or how to find out about venues that have closed, as the last thing the proprietor would worry about is their website listing. Steve Wilber, co-founder of www.meethalfway.com. Read more >
Published in the Financial Times: 7th October 2006

How do we expand internationally?

Q. Image Source is one of the largest independent picture libraries. Half of Image Source's sales are in the US, but it also has a significant business in Germany, France and Japan. It has opened offices in New York and would like to open other bases in Los Angeles and Tokyo in the near future. It would like to develop customer relationships globally, whilst accessing new digital markets. With the company looking to open offices in different corners of the world, how can they keep everyone singing from the same hymn sheet and avoid interoffice rivalry? Also, the business owners would like to develop the Image Source brand, but being a small business, do not have a lot of resources. Read more >
Published in the Financial Times: 2nd September 2006

Targeting the top table with a magic e-mail

Q. I run a business selling a risk management product to large companies. In the past we have had a lot of interest in our product among potential customers but have problems getting to the decision makers on corporate boardrooms. What is the best way to get hold of these people other than through bodies such as the Confederation of British Industry or Institute of Directors? Read more >
Published in the Financial Times: 15th July 2006

Planning to make sure history does not repeat

Q. Last year I started a business selling handbags designed like orange segments, allowing customers to choose and change the colour of their bag. Barclays, which initially offered a loan under the Small Firms Loan Guarantee scheme, was so impressed with the product when I showed it to them that they offered a £35,000 overdraft facility backed by a personal guarantee. Then disaster struck with my UK manufacturers, resulting in the first batch of products arriving seven months late, missing the crucial Christmas period. Barclays got cold feet, removed the overdraft facility, freezing the account and calling in the personal guarantee with seven days' notice. We have done a lot of promotional work on a limited budget and have received great interest from both the UK and mainland Europe, but obviously need to source new financial backing. What is my best way forward? Cliff Spruce, Orange Bag, www.orangebag.co.uk. Read more >
Published in the Financial Times: 24th June 2006

Pushing your business's boundaries to the limits

Q. I set up Electrowarm, a direct sales company, nearly two years ago to sell energy-efficient storage heating systems. Based initially only in the south-west of England, the company has grown nearly 200 per cent. I am now considering selling the products nationwide and I am also using the internet to push more sales. Given my limited resources, what suggestions you can offer? Joseph Taylor, Electrowarm, www.electrowarm.info. Read more >
Published in the Financial Times: 10th June 2006

Hunting, farming and the quest for 'mavens'

Q. What percentage of my turnover should I be looking to invest in sales and marketing? There seems to be a lot of conflicting advice about how much to invest to gain more market share. Jo Chalker, Dion champagne bars. Read more >
Published in the Financial Times: 3rd June 2006

Promoting and protecting require planning

Q. I started up my business last October and sell luxury nightwear on-line at www.pinkcamellia.com and through a small brochure. I would like to know more about the subject of blogging and PR as an aid to business and would be grateful if you could give me some help as to where best to look for useful information on these subjects. Are there any blogs where people with their own small business can discuss problems and hopefully find suggestions and answers? Gina Krupski. Read more >
Published in the Financial Times: 20th May 2006

Making their mark against the retailers

Q. I am the co-founder of a mobile phone service that aims to answer any questions users throw at us. We have been expanding rapidly and were recently approached by a large retailer that wanted to use us as a "white label" service under their logo. Is it better for us to accept such white label services, which are a boost to revenues, or concentrate on building our own brand? Read more >
Published in the Financial Times: 11th April 2006

Ask the experts: Internet shake up

Q. Jez Frampton, managing director of Interbrand, the marketing consultancy, is a great believer in the internet's ability to shake up delivery services since he is also a non-executive director of Ocado, the online grocery business. He believes that eCourier should rather be positioning itself as a premium brand, complementing rather than competing against the multinational logistics businesses, such as FedEx and DHL, which specialise in overnight delivery. Read more >
Published in the Financial Times: 17th March 2006. Article by Jonathan Moules.

Look to friends and don't go kissing frogs

Q. I run a health and beauty spa. I financed the business through my own money, bank loans and cash from family and friends. I am now looking to attract angel investors. What is the best way to do this? Read more >
Published in the Financial Times: 11th March 2006.

Ask the experts: Dunnhumby

Q. If there is such a thing as a good problem to have in business, it is the issue Dunnhumby faces maintaining its entrepreneurial edge as the company's growth rockets ahead. It is an all too common problem, according to David Molian, co-director of Credo, Cranfield Management School's centre for small business growth and development. Read more >
Published in the Financial Times: 18th November 2005. Article by Jonathan Moules.

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