TGt Meets... Willum Long

As part of our Entrepreneur Week Specials, we've been speaking to Willum Long from Madison Oakley.

Tell us a little bit more about your business?

My primary business is Madison Oakley Estate Agents based in Bath. We are a traditional Estate Agents providing Sales, Lettings, Surveying and Acquisition services. Along with a co-founder, we launched on the 22nd February 2010 on a small sleepy side street office. Fast forward to 2015 and we have two High Street Bath offices, 6 partners within the business and are about to start recruiting further for an ever expanding lettings arm. Exciting times ahead.

Given the industry reputation the Estate Agency sector has, we have put a huge emphasis on customer care and for the last two years running have achieved Gold awards for our service levels by our industries 'Trip Advisor' equivalent. We are also one of a very few 'Licensed NAEA' agents in Bath which again has helped with credibility amongst potential clients. The business is going from strength to strength with turnover set to hit £400,000 for the 14-15 year.

My secondary business is a personal investment property portfolio which I have been building for a number of years. This area is a huge passion of mine and properties are typically bought needing extensive work and where value can be increased. Often, I find myself covered in dirt and dust at weekends, asking myself "Why" and contrary to what people may think, property investment is not glamorous! However, after a recent acquisition just a number of weeks ago, the property portfolio is now 7 strong, turning over £100k + per annum and worth in excess of £2,000,000.

Finally, I recently soft launched a new business called The Kitchen Wrapping Company. Still yet to go fully fledged, it's an exciting new business I have high hopes for.

What inspired you to set up your business?

Running my own business was never something I set out to do from day one, to be honest from leaving school I didn't have the foggiest idea of what I wanted to do. I fell into the property sector by chance and loved it from day one. Whilst I worked for an employer for a number of years and enjoyed it, there is only so far you can go. Therefore I guess ambition was my inspiration which I have my father to thank for.

Being in charge of your own destiny and building a solid, secure foundation for a happy future is always something I have lived by and I believed by having my own businesses would enable this to happen......only if the business worked!

What do you think attracts people to starting their own business?

From speaking with a number of people who have started their own businesses there seems to be two common answers to this question which are as follows ; 1, To be their own boss or 2, Ambition, which also includes the saying 'I can do it better'.

The first answer is probably the most common and I'm sure includes the majority of new start-ups. If you have the skills and/or have built a client base over the years then there becomes a point where you may start to think 'Why am I working for someone else'. If you have a readymade client base and strong reputation then it's a no brainer to going it alone.

Ambition is quite a large umbrella but is always a common answer. It will include the people like myself who feel the only way they can really achieve their goals in life is by going it alone and cannot progress any further within an employment role. It also includes those who believe 'They can do it better' than the company they are working for. Same sector, same skill set, but maybe they find their hands tied due to the levels of hierarchy and Management within some organisations.

What’s the biggest challenge you’ve faced?

There have been a few but I would say the biggest issue I had at the early stages was my appearance... Bet you didn't think I was going to say that! Or maybe so!! What I mean by this is that I have always been referred to as having a 'baby face'! How lucky I hear you say, however in an industry where you are dealing with someones most expensive and largest asset, do you really want a 12 year old boy handling it? From a client’s perspective this was tough, however at 20 years of age I was handed my own branch to manage. This branch was owned and part of a large corporate chain. Day one of my new role was to walk into a new office with established staff, some 3 times my age, win them over and manage them on a daily basis. A significant challenge in itself, why should they listen to this little whipper snapper!

Do you have a motto or favourite motivational quote?

Not as such, however I work to a goal of having a secure, comfortable, happy future which will only become reality if you put the effort in, day in, day out. Well, I guess an applicable moto would therefore be 'you only get out what you put in'!

Saying this, I read 2 great quotes the other week which really stuck & gets you thinking. They were 'Find a way, not an excuse' and 'Start now, fix it as you go'.

Two great quotes for people looking to start a business. Sometimes you can over think an idea, delay launching, or come to the conclusion the time isn't right. Rarely is the time right so these are 2 great quotes to kick you into action...

What advice would you give someone looking to take the plunge and start a business?

See quote above! I'd say firstly surround yourself with successful people and businesses that will lend invaluable advice on all parts of your business, usually over a free of charge coffee. They will be key in helping guide you in the right direction but also be honest with you if you're on the brink of making a wrong turn.  Whilst we need encouragement at this stage, we also need sounding boards to bounce ideas around as taking the plunge on your own can be a lonely place. Two heads are often better than one.

Also take your time, be calculated, research all the key elements of your business, competition and find a Unique Selling Point that can pull in the punters and make you stand out. Providing all this is in order, my final bit of advice would be to ... 'Do it'. It's so, so easy to set up a business nowadays and with the likes of social media, self-build website platforms, competitive marketing companies, you can be fully fledged and trading with a pretty modest budget, talking hundreds, not thousands. Don't get me wrong, it's easy to launch but you will need a lot more than a website and a name to be successful. Have a 'can do', accommodating, attitude to everything, make potential clients problems your own and if you follow this through, you will have a client for life.

What’s the biggest challenge facing business leaders today?

I hate to say it but I fear legislation and regulations are business leader’s biggest headache in this day and age. No one is prepared to take responsibility for their own actions and are always looking for someone else to blame. Whether it's health, safety, financial regulations etc, it seems as though a lot of regulations and legislation are put in place nowadays to keep people in jobs as supposed to focusing on the issues at hand. Whilst I completely agree with the need to have all the above and I am the first to encourage high standards, staff/customer protection, too often I see it taken too far which I fear is hampering a new generation of Entrepreneurs or even stunting growth of these fantastic established businesses as they dedicate more time and resources too keeping their compliance man happy over a none issue.

Well there you have it, a rare rant over, it's off my chest. Please done sue me!

What’s been your biggest achievement to date?

On a personal level and apart from obviously being asked to be featured on the TGT site, I would have to say receiving the award of 'Young Entrepreneur of The Year 2015 ' at the Bath Business Awards. As eluded too above and discussed with Liz at TGT on a few occasions, it can be a lonely place having and running your own business, no one above you to pat you on the back when things go well. You need to be self-motivated and it's sometimes hard to know actually if you're doing things right or not.  The award was a good 'note to self' that things are heading in the right direction so hopefully more of the same in years to come. Onwards...

When you’re not busy running your business, how do you like to spend your down time?

Down time is especially important and I always encourage good breaks amongst my staff in order for them, as well as myself, to remain fresh. I have a number of passions outside of work which include sports, music, cars and socialising with family/friends. I love playing golf, compete in a sport called CrossFit and enjoy trying new activities with friends as it typically end in fits of laughter. I can also be found in the garage tinkering away on my old 1974 Zed car which is huge fun. However if I'm too shattered for the above, I will happily embrace a good sofa day for a good rom-com, ahem sorry I meant thriller - or some nice food and drink with family and friends.