Future of Business Podcast

Surviving the 2008 Recession and Why I started the Podcast Apr 02, 2020

Show notes

The Business Mentor Podcast has already reached over 100 episodes. And Jay is not planning to stop producing business content anytime soon. He wants to continue helping you guys on your business journey, even in these hard times! The Covid-19 pandemic poses an enormous threat to the UK market, and it will affect your business. Jay gives tips today on how he survived the 2008 recession. You could apply these tips too if this outbreak leads to a recession. Time to listen in.

KEY TAKEAWAYS

Jay used to do paper runs until his bike got stolen. So, when this happened, he had to find another way to earn income.
At 23, Jay was already starting his own business. He’s created a team of his own. We should also note that it was very easy for them to level up since everyone on the team had the same vision.
But when the recession in 2008 happened, and as a first-timer in this kind of situation, Jay had a tough time to weather through. He had to lay-off some of his trusted team members and had to give up many possessions.
Having a mentor helped Jay save his business. His mentor was experienced with recession and knew what viable solutions could help Jay.
He then realised that he can also help other entrepreneurs, even the aspiring ones. This is also the principal reason Jay started the podcast.

BEST MOMENTS

“That really ceded me about business—how to create my own income.”
“During recession, the job market goes first.”
“Not having the ability, not having the knowledge, or not having the support network was something I really struggled with.”

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all with no investment other than a slight amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Its immense success inevitably brought about outside interest, and at the age 33 Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.

A calling to give back and help others led to Jay being chosen for the highly coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.

After helping several young entrepreneurs to succeed as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.

CONTACT METHOD

https://uk.linkedin.com/in/sati-rana-054621129

BBC Radio Derby Interview - Corona Virus and Your Business! Mar 30, 2020

Show notes

This time on The Business Mentor Podcast, Jay is interviewed on BBC Radio Derby about the effects of corona virus on business and how we can all pull together to get through this unprecedented time.

Jay gives some first-hand advice on how you can keep your business afloat, giving tips on how to access government support and plan ahead so that you can bounce back after this all blows over!

ABOUT THE GUEST

Sati Rana is the creator and presenter of the Aaj Kal Show on BBC Radio Derby. The Aaj Kal Show established itself as the trail-blazing Bhangra radio programme in the UK. By 1988 it became the biggest radio programme in the country and steered the birth of Bhangra music in the UK!.

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Its huge success inevitably brought about outside interest, and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone, 95% of business fail within the first five years, and Jay’s aim is to reduce that number.

CONTACT METHOD

Surviving Covid-19: Accountant Simon Misiewicz, Answers Your Questions on Business, Self Employment & Property. Mar 29, 2020

Show notes

Jay is with Simon Misiewicz founder of Optimise Accountants, he is a tax specialist with extensive experience and expertise and is answering the questions everyone wants to know the answers to, whether they are an employer, self-employed or an investor.

They discuss the rapidly changing financial landscape and the moves the government are making to support businesses whether you are an employer or self-employed.

Uncertainty is the new norm and this episode has practical advice and clear information that is of value to any business, in this very different time that we all find ourselves in, listen in and learn more.

KEY TAKEAWAYS

Furloughed employees

The government is having to build a system to be able to pay employers so employers are going to need to cover furloughed employee salaries for March, April and early May prior to the Government being in a position to pay-out.

Loans

The British Business Bank is offering a loan and there is a holiday payment of 12 months available but you need to consider the interest that you will be paying later on.

These loans will still take 2-3 months to process and your own bank or loan provider may be able to offer a loan that is cheaper and quicker than what’s on offer from the Government.

If you need the money immediately start talking to your bank about what they can do to help now.

If someone was about to make a VAT payment then the payment does not currently have to be made, potentially providing a cash injection for your business.

If your payments are via direct debit make sure you cancel it as it will take approximately 6 weeks for the money to be returned to your account.

Self-employed, how will it work?

One of the roles of your accountant or tax advisor is to keep your profits as low as possible so that your tax is as low as possible so it will be difficult to work out an approach or system that will be fair for everyone.

Whatever is decided there will be some people who will lose.

Are you self-employed if you are an investor?

The government definition of self-employed is someone who is actively doing something to provide a service or sell a product.

Property investment is passive, you get the money regardless of what you do, the government will not be providing assistance to investors.

You need to have a contingency plan and also understand there are opportunities that you need to be prepared and ready to take action on.

Everyone is in the same situation don’t be proud or bury your head in the sand communicate with others and ask for help if you need it.

BEST MOMENTS

‘Whatever they bring in some people will like it and some people will loathe it, it’s a very difficult situation and any solution will be complicated’

‘It has to be a fair and equitable number that is paid to most people’

‘There are on online businesses that will not be affected’

VALUABLE RESOURCES

Recruitment Boss

Optimise Accountants website

Optimise Accountants YouTube

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone, 95% of business fail within the first five years, and Jay’s aim is to reduce that number.

CONTACT METHOD

Losing 400 Staff, James Sinclair & Jay Talk Corona Virus Mar 28, 2020

Show notes

‘Having a plan is vital because what you do in the second or third month of this unprecedented situation with COVID 19 is what’s going to be really important for the future’

Jay is in conversation with James Sinclair, Founder and CEO of the Partyman Group of companies. James has built a business group that encompasses leisure, childcare, outdoor attractions and a training business so his business knowledge is diverse and extensive.

In this episode, Jay and James discuss the impact of COVID 19 on business and share the ways entrepreneurs with the right mindset can work through the global business ‘pause’ and be prepared to press ‘play’ and move forward in a position of strength when the global economy resumes. This is a great episode with lots of valuable content from entrepreneurs who know what it’s like and what to do to carry on moving forward, listen in and learn more.

KEY TAKEAWAYS

In these challenging times, the key for businesses is to act with speed.
I didn’t panic I planned and we planned fast and implemented fast.
I’m confident that when the play button is pressed and we start again we will be one of the strongest businesses in our sector in the UK.
Every day we are in this pause phase the global and UK economy is changing.
The saying cash is king has never been more important, it is vital to always have cash reserves -you have to prepare and plan so that you are ready whatever happens.
If you are someone who can make stuff happen you should make stuff happen for others.
It’s important not to be distracted from your business and the trajectory you have set, this is the time to be focused, now everyone has the opportunity to do what’s important but not urgent in their business.
We will go into recession but this is an opportunity - more millionaires are made in times of recession than at any other time.
There will be people who will lose momentum in the 3 vital ‘E’s’ of business - effort, energy and enthusiasm but those who have the stamina and tenacity and the 3 ‘E’s will be the ones who will succeed.
You need to make sure you don’t forget the basics of business.
As soon as the play button is pushed you’ve got to be ready to go.

BEST MOMENTS

‘Once you get started the momentum kicks in’

‘Last night I started writing my new book ‘ The Dream Team’ everyone can get on with something’

‘We need to remember money is a digital asset and a method of control’

VALUABLE RESOURCES

Recruitment Boss

James Sinclair website

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone, 95% of business fail within the first five years, and Jay’s aim is to reduce that number.

CONTACT METHOD

Corona Virus, Uncertain Times and What We Can All Do About This Mar 27, 2020

Show notes

This week on the Business Mentor Podcast, Jay Dhillon give us his top 5 tips for focusing on your business and surviving during this Covid-19 outbreak. Learn why should create goals for the next 90 days so that you can effectively manage your cashflow and why you should spend more time than ever marketing and pushing your message.

Learn the best ways to keep your customers in the loop to keep your business alive during the Covid-19 outbreak, this situation has given entrepreneurs the best opportunity to stand out from the crowd and bounce back once this has all blown over!

KEY TAKEAWAYS

Jay advises that if there’s a support being offered (by the government), take it. Whether it be financial, logistical, or the medical kind. You can use any help in this tough situation.
If you need to cut some non-essential expenses in your company, derailing no major operations, do it. You must consider your resources and your cash flow during and after the COVID-19 outbreak.
Don’t get distracted by other things. Focus on your business. Some might think this is a wonderful time to start an extra project because they haven’t had a break in so long. Well, don’t! Besides, the unpromising state of the UK market makes it more difficult to start something new.
5 Tips for Businesses Amid COVID-19 crisis:
- Keep your routine.
- Plan for 30, 60, or even 90 days.
- Look at your business cash flow.
- Keep your marketing message.
- Speak to your customers.

BEST MOMENTS

“In the short term, what I advise is, take the help.”
“Maybe we can treat this as off-season so you can work on your craft.”
“Look after your health.”

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all with no investment other than a slight amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.

CONTACT METHOD

Coronavirus Update : Dr. Shan Hussain Answers Your Questions Mar 20, 2020

Show notes

‘It’s not about you and me it’s about all of us, we need to protect everybody’

In this episode packed with information, Jay is checking in with Dr Shan Hussain host of the Enduring Health podcast and community GP with 20 years of professional experience.

They discuss the vital importance of getting accurate and legitimate information in a time where social media is a part of everyone’s lives and can be the source of much misinformation. There is great practical advice and tips that everyone can implement in this podcast, listen in and find out more.

KEY TAKEAWAYS

If someone has an underlying narrative and see something that supports it, it’s very easy to share without thinking about it first
If you see something on social media check it and see if it’s accurate
Coronavirus is a type of flu virus there is no actual treatment or vaccine for it currently
It’s spreading much faster than anticipated.
There will be people walking around with no symptoms who can pass it on to someone else.
Most people who get it will have mild to moderate symptoms and will fight it off
It is those vulnerable groups for who it is potentially, much more serious, that the current restrictions are seeking to protect.
We have to do everything we can reasonably do to slow the spread
People should not panic; you need to do everything you reasonably can to protect yourself without causing yourself increased anxiety and stress
The difference between coronavirus and seasonal flu is the mortality rate, with the mortality rate for coronavirus being much higher
There is no definitive evidence currently about whether you are immune after you have had it or if it will reoccur in the coming years.
There is no cure so it’s about how to protect yourself and if you get it what you can do to fight it.
Good nutrition through real foods is key to keeping healthy and this is something everyone can do.
What we do now will potentially determine how long it lasts into the future. Everyone needs to do what they can to look after each and their community.

BEST MOMENTS

‘I think testing should be rolled out for all health workers because they are treating others’

‘Panic buying is a reflection of how fearful people are but that fear doesn’t serve anyone’

‘Everybody is working so hard and it makes you proud to be part of the health profession’

‘It’s great to have a resource such as the NHS to hand’

VALUABLE RESOURCES

Recruitment Boss

Enduring Health Podcast

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone, 95% of business fail within the first five years, and Jay’s aim is to reduce that number.

CONTACT METHOD