Welcome to TURNDOG TALKS TO: the time of the week where I interview people with a story to share.
Today I interview Rachel Elnaugh, one of Great Britain’s finest and most recognizable entrepreneurs. Rachel was one of the initial members of the very popular Dragons Den Series, and although she’s seen much success in her life, she’s also come across failure. This is what we discuss, as Rachel and I talk about how her business went into administration, and how she bounced back to write books, craft a new direction, and be the happiest she’s ever been. This is one of The Successful Mistake’s finest editions yet.
The Interview Overview
- Rachel talks about how her business went into administration after 12 years, despite having millions in the bank
- She discusses her main mistakes, and how she placed too much emphasis on profits and growth and other such things
- Rachel hired a CEO, without grooming them, and overall she found her passion to fall away
- It didn’t feel like her company after a while
- Although the end was devastating, Rachel shares how it was somewhat of a relief
- It allowed her to re-evaluate and start anew, and focus everything on passion and what would make her happy
Rachel Elnaugh is the award winning entrepreneur whose first business was the market leading ‘experiences’ brand Red Letter Days, created at the age of 24 – which she grew from nothing, on a shoestring budget, into a £multi-million turnover household name which at its height was making £1million profit a year.
This won her an Ernst & Young Entrepreneur of the Year Award in 2002 and she was shortlisted for the 2001 Veuve Clicquot Businesswoman of the Year Award along with Barbara Cassani, Jo Malone, Sly Bailey and Chey Garland.
As a result of being on the Awards circuit, in 2002 she was invited by the BBC to be part of a new business show they were formulating called ‘Dragons’ Den‘.
Thanks for dropping by and joining us for this marvelous edition of Turndog Talks To
Have a most lovely day,
Tundog – @turndog_million