For our first spotlight post we spoke with Ed Leake from Midas Media to discuss the challenges he’s faced in growing his business and some honest advice for other entrepreneurs out there.
I started my business simply because I found the corporate life insufferable. The culture and mismanagement that I was subjected to over many years was claustrophobic – I knew I could do things better. I wanted to create a career that I loved and perhaps, more importantly, a working environment that people loved to be a part of. Not just another J.O.B.
Midas Media craft and execute unique marketing strategies that ultimately convert website visitors in to paying customers and generate a handsome revenue for our clients.
We use an array of expertise to do this, but primarily our projects focus on Content Marketing, Social Media and Paid Search.
Every day is different and that’s why I love my job. This is true not only of running an SME, but also the nature of the modern marketing industry. Everything moves so fast. Everything changes. You can’t be complacent, you can’t even rest at times, and I love the pace and freshness of it all!
My day typically boils down to one of four key areas:
Good employees are your lifeblood, bad ones are you downfall. Invest in the good people, quickly get rid of the problematic ones.
Smooth, low pressure growth. If there is such as thing? The company started out in my home office for a few years (with remote staff). From my ‘back bedroom’ I generated a 6 figure turnover. I was always mindful if I were to exceed my £250,000 target I’d need to venture outside! Midas now resides in a rather plush, modern office with a team of eight and growing. Running a marketing agency demands considerable risk-taking, it requires long hours and in reality less time for yourself, friends and family than you’d perhaps like. Controlling growth is just part of that puzzle. It’s all too easy to get carried away and blow your budget on an office and staff, only for projects to fail later down the line. I was always and still am, very prudent.
A few rules I live by to avoid growing pains:
Remember that business is built on mutually beneficial relationships.
From my experience, there are so many different things that can make or break a business.
Even those with great ideas won’t flourish if the owner doesn’t unburden themselves from work that shouldn’t be on their desk.
Here are a few key but brief pointers (I could write a book on each one):
And last but by no means least: remember that business is built on mutually beneficial relationships. Not bullying and desperation. Don’t cash grab, instead sell honestly, sell what you believe is the right thing and look after those that look after you.
I was a client back in the day when you were called ‘Sipcentric’. I did the usual; Googled around and talked to a few companies. You guys (and girls) seemed affable, and what with you being based in the Midlands too, I took the plunge! IP telephony has enabled us to scale our business phone system easily and at an attractive price. I love the fact we can literally plug a phone it to ‘the Internet’ and make/receive calls. Furthermore the option of ordering business phone numbers and extensions in a few clicks, and with call recording, makes it a no-brainer for small businesses. Touch wood, your service has practically been uninterrupted for the past few years too.
Are you a business owner with valuable insight to share with our community, consisting of hundreds of UK businesses just like yours? Email Sabrina on email@example.com to arrange an interview.
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