Posts in Entrepreneurship
Multiple Streams of income 💸

Becoming isn’t about arriving somewhere or achieving a certain aim. I see it instead as forward motion, a means of evolving, a way to reach continuously toward a better self. The journey doesn’t end.” – Michelle Obama, from Becoming

If you'd told me a year ago that @seed_ball would be squeezed in our new manufacturing and assembly units - I'd have laughed!! Now, we're super focussed on working out how to increase productivity and efficiency in the spaces we have... in a business that has it's own mind and just keeps growing!! Setting up Seedball and my property business at the same time along with a young, young family has been super fricking hard. But, my, oh my! It is so worth it!! Guys YOU NEED multiple streams of income. If it's not on your goals for this year - get on it! your life will change ❤️

7 ways to skyrocket your success!
 
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Literally one of my favourite books every is The Richest Man in Babylon. I love it, not only for its lessons, but because it talks about making Babylon the richest country in the world, by making every citizen rich.

It's an interesting concept and one I think about regularly...

Just because the rich exist, does it mean there must be poor? To be successful myself, I don't have to make anyone else less successful. We can all win! We all have different goals (and if we had the same goals - like buying nature reserves 😆 - couldn't/wouldn't we work together?

If you want to be successful, focus on you and applaud those who are doing well and building their own success. Here are 7 tips to create success in your life now!

1. Take ownership: Stop with the excuses! Own everything – you failed (first attempt in learning) it was your fault, you won – you did that!! It works both ways. The blame game didn’t get anyone anywhere – nor did giving your power to someone else.

2. Add 5 people you admire into your circle: Reach out to successful people, engage with them. Get mentored/coached by them. If you want to get ahead, get around people that have done what you want to do!.

3. Be grateful: Practice gratitude every single day. Look always, every day at what you have and be grateful for that! Focussing on your wants will only serve to make you unhappy.

4. Fight for you: You must fight for what you want – yes it is frightening, it’s often like a rollercoaster. You may feel you are going mad, or broke or drinking too much wine (just me?!) but after taking a sensible look at the risks you must feel the fear and do it anyway. Do whatever it takes to make it happen for you!

5. Get focused: Set goals, set systems for achieving those goals – turn successful behaviours and systems into habitats and execute on them every day. No excuses! You wanted this… go get it!

6. Get disciplined: Choose to do what you have to do, not what you want to do! And, show up every day to do it!

7. BE HAPPY: Become someone who pursues happiness. Design your life, for you. Reward yourself when you make tiny wins.

Have a fab day! See you at the top 👆😆

Ana ♡

Want to connect? Find me on insta @dr.anaattlee, or why not pop along to a meet up? If you think I can accelerate your journey to your goals get in touch or book a coaching session!

THE best way to organise a viewing day!
 
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“Wake up! No one is going to save you. No one is going to take care of your family or your retirement. No one is going to make things work out for you. The only way to do so is to utilize every moment of every day at 10X levels.” Grant Cardone, 10X Rule

If you are serious about property you need to maximise the effort you put in! You can’t just sit around and wait for the right deals to come along, you need to go out there and see as many (of the right kind) of houses as possible! In order to carry out a buy, refurbish and refinance strategy where you can pull out most (if not all!) of your money - there are not a lot of properties like that. And, most likely you are starting from a position where you don’t have a lot of time to do viewings… So, here are some tips to make sure you maximise the potential deals that will come off as a result of your viewing day!

  1. Make sure you view regularly - ideally every week or every other week

  2. Book viewings, if possible during the week. This maximises the chance that the person showing you around actually knows a little about the property and its history

  3. Find the properties you want to view and pre-qualify them! Go through rightmove and look for the grungy properties and see if there are ‘done-up’ properties that have sold on that street or in the nearby area for much more. Set up a spreadsheet and pop in a nominal refurb value i.e. £10k and then look at what properties in this area of a similar type are renting for. Play around with your spreadsheet! Add in a contingency fund to cover unexpected expenses and insurance (I do around 10%) and to cover a letting agents expenses (again about 10%), then see if the property will still cash flow if, for instance mortgage payments go up to 6%. Does this property look like it might work? Great! pop it on your ‘to view list’.

  4. Organise the to view list, by area and by agent. Try to clump viewings by agent and then by area.

  5. Create a viewing time sheet and organise your viewings into one per half hour. This gives you about 15 mins to view and 15 mins to get to the next viewing! Aim to book in viewings from 10:30am until it gets dark (you may be able to book viewings earlier but most agents wont start viewing until 10:30am.

  6. Ring up/email estate agents to book in your viewings at the times requested.

  7. FILL your viewing sheet up! Aim to get viewings into double figures every time you go. If an agent said one of the properties you wanted to view is no longer available go back to point 3 and see if there are any gems you may have missed. Perhaps a little further outside of your area.

  8. Use a viewing checklist on the day and take lots of photos (see my previous blog) and take along some flyers to pop in houses that maybe look run down on the street you’re viewing (i.e. “want to sell your home? Call Ana on ….”)

  9. Spend a little time on the street before each viewing - while you are checking out the roof - if a neighbour is about ask them a bit about the area and anything they know about the property.

I hope those tips were helpful! Do you have any to add to this list? Do you want to get started out with a buy to let portfolio? I’d love to know or help you out! Drop me a comment below…

Ana ♡

Want to connect? Find me on insta @dranaattlee, or why not pop along to a meet up? If you think I can accelerate your journey to your goals get in touch or book a coaching session!

 
What We Learnt Scaling Up Seedball
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“And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.”

― Anaïs Nin

It’s been a crazy 8 years since we started Seedball. Emily and I had just done the National Environment Research Councils Environmental Young Entrepreneurs Scheme (NERC EnvYES for short). It was a course/competition for PhD students and young researchers to learn the skills you need to start in business. Over the time of the training you came up with a business that solved a problem and basically did an MA in a weekend!! At the end of this time you present your findings to a panel of Angel Investors and then a winner is decided. We didn’t win, our idea was related to sustainable energy, but we did find out we LOVED business and we worked together incredibly well as a team. Shortly after we came up with the concept of Seedball - a simpler way to grow wildflowers from seed to help save bees! Over time we have grown Seedball without funding to a business that has a team of 14, a manufacturing unit, an assembly unit and being stocked in over 600 shops and garden centres across Europe. Seedball is a not for profit Community Interest Company that has already made a huge impact for wildlife (but thats another blog!).

So, here is what we’ve learnt about scaling our company…

1. HAVE A GREAT PRODUCT

It should go without saying but have a product that you love and you are proud of and you’re enthusiastic to watch the business grow and better able to handle the difficult times. yOur product has to solve a problem (and solve it well) and have a clear Unique Selling Point.

2. KISS (KEEP IT SIMPLE STUPID)

Being successful in any entreprise is about simplifying things. We’ve consistently gone through everything about Seedball and made it simpler, creating easy to follow procedures and systems and keeping our message clear and concise. Everyone needs to understand your message, from your customers understanding what the product is and how it can help them, to your team understanding expectations and workflow.

The smaller we were the easier it was for everyone to understand each part of the business, as we’ve grown we’ve worked hard to simplify each persons role and how that links to the bigger picture. We found that this simplicity has kept customers and our invaluable team engaged in the business and our aims.

3. LOVE YOUR CUSTOMERS

Getting new customers is hard work. So we focus a lot on how to keep our customers happy, to be a part of our Seedball family and engaged in the information, advice and value that we provide them with. As a result we have a solid base of returning customers plus lots of word of mouth sales. This has been a natural fit for us, after all the aim of our business is to fill gardens easily with wildflowers to save bees. The happier our customers are, the more wildflowers there are in the world!

Ideas for new products have come from our customers, and we’ve responded to feedback as soon as possible. We initially started with very slow to grow perennial wildflowers which tend to improve in display year on year, over time have added in more annuals to ensure customers see a better display as soon as possible after planting. Expectations of customers for fast results is something we have to keep managing and so we take customer service and informing customers very seriously. And have always ensured the information we share is about helping customers also feel part of our larger vision to help wildlife in the garden.

4. HAPPY TEAM

As a business, we would be nothing without customers, we are also nothing without our team! One thing we’ve always done well (and this may be a result of doing PhDs) is to seek out people who know more than us, or are better than us. We’ve certainly done that with our team, who are amazing!

As we have never had investment, we have never really been able to pay a premium. But, we have always given as much as possible in pay and support. In our early days this meant making lunch for everyone. We’ve done things such as cover costs for people getting into work and have always been super flexible with team members, for example so they can come to work after dropping children at school and leave early to pick children up.

We’ve aimed for a happy atmosphere at Seedball and still continue a shared lunch break, evenings out and all to regular prosecco celebrations of each win. We aim to give everyone a chance to excel in what they do best in and to value everyone that works for us. Without them we’d be nothing!

4. STAY INVOLVED IN EVERYTHING

Now this can be a killer. As you scale it’s really tempting to sit back and let someone else take on a role and not really watch what they are doing. We have done this a few times and always to our detriment. Delegation is of course important, and empowerment of the team member to do their job. But, you still need to know whats going on, with everything!! It’s a fine line to tread, as you don’t want to disempower your team either… checking in regularly helps you be better at anticipating when things need to change and by planning for that eventuality. People often use the phrase "work on your business not in it"... but the time frame for this and how it evolves into this is specific to the business and context. This approach needs the right team, very careful management and precise systems - be wary of applying this phrase without careful consideration if this is the right time for both you and your business, and if you have the capacity to fully implement.

5. GET A MENTOR

We found this absolutely the most natural and comfortable thing to do. As a PhD student you have a supervisor who helps guide you through the process. Someone who has been there before and knows the ropes, potential pitfalls and steps to success. We found an amazing mentor really early on and have checked in with him regularly throughout our scale up.

We have found scaling an enjoyable experience as we’ve been able to leverage off the skills of those better than us!

6. KNOW YOUR NUMBERS

In business cash is king! You need to know real data for everything:

  • Cash flow

  • Profit/Loss

  • Customer acquisition

  • Customer retention

  • What messages customers engage best with

  • Conversion rates and causes

  • Strengths, Weaknesses, Opportunities and Threats inetrnally and externally for your business

With regular solid monitoring and analysis of data (also known as Key Performance Indicators "KPI's") you can make informed decisions to help you grow… data is like your flashlight in what can otherwise become a very confusing muddle!

Have you scaled up a business? What are your learning points? I’d love to know!

Ana ♡

Want to connect? Find me on insta @dranaattlee, or why not pop along to a meet up? If you think I can accelerate your journey to your goals get in touch or book a coaching session!


 
Starting in Rent to Rent
 
Interested in this strategy?? Do grab Jacquie Edwards Books on Rent to Rent!

Interested in this strategy?? Do grab Jacquie Edwards Books on Rent to Rent!

"Do not wait; the time will never be just right. Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along. Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible." Francis of Assisi

I started out in property with no money (also no time! ha!) ... my first strategy was to create cash flow so I began with a rent to rent portfolio. This strategy is simply looking for properties on the market that are currently being marketed as single lets but have potential to be made into HMOs by renting out each room individually.

You pay the landlord a guaranteed rent for a set amount of time and you manage the property and any problems that arise. You then, are effectively the managing agent for that property, taking over furnishing the property, tenant finding and tenant management of the property. Do all of this to an extremely high standard and its a great strategy as everyone is happy. You, as a new investor, learn about staging properties and all the legalities of letting a property (perfect for your future dealings with letting agents!) and you make a healthy cashflow…. anywhere between £500-£1k pcm. In my experience it is a quick way to get started, but not a stress free one as the learning curve is steep (see also my post on HMO investing) … not only do you deal with legalities and being out of your comfort zone, it also takes, in my opinion, about 3 months for tenants to settle in properly (in this time there can be bickering amongst tenants and incessant requests for extras, plus many things seem to get broken! Then it takes about 9-12months for things like cashflow to settle into a recognisable state. For this reason I recommend keeping aside 1 rooms rent from as soon as possible to cover voids and build that up to a cash reserve of the full rent you will be paying to the landlord.

For me - I decided to start in rent to rent in November and by January I had my first two properties cashflowing and one more in the set up process! By February I was earning more than I had ever done! So, here are some simple tips to get you started :

  1. You need to be prepared to view a lot of properties! Get your comfy shoes on and realise you will learn what you need to say to landlords over time… you dont need to get it right straight away. But, you do need to start to get it right.,

  2. Learn your legals!! Become an NLA registered landlord

  3. Go out and view rooms in the area you’d like to do rent to rent in… book viewings (at least 5) from spareroom and get to know your market this for me was the single most uncomfortable step but one that cant be missed!

  4. Look on open rent and gumtree for properties that would be suitable to rent. Go and view as many as possible.

  5. Don’t bother negotiating the rent… but work out how you can make this win win for both you and the landlord

  6. Stage your property well!

  7. Make sure you know how you will be dealing with cleaning and maintenance - task rabbit was my friend!

  8. Advertise and advertise well - do your listing for your market! I went for a high end HMO market so I made my listing look like a serviced accommodation ad… in fact my rent to rent HMOs were almost a hybrid between serviced accommodation and HMO.

  9. Have the most personable person you know do the viewings … I am a HUGE people person so I did my own viewings

  10. Have systems!!!

  11. Make sure the rent for each landlord comes out on the same day near the end of the month and your tenant rents come in at the same day at the start of the mont

  12. WATCH your cashflow!!

I hope those tips were helpful! What’s your strategy? Do you want to get started out with a rent to rent portfolio? I’d love to know or help you out! Drop me a comment below…

Ana ♡

Want to connect? Find me on insta @dranaattlee, or why not pop along to a meet up? If you think I can accelerate your journey to your goals get in touch or book a coaching session!