From Precious
April 10, 2008
Odile Haustant | Marketing & PR
Francophony Ltd
www.francophony.comPrecious: How and when did you come up with the idea of your business?
I came up with the idea of a magazine about the French-speaking community three years ago while temping at an Enterprise agency. I had just graduated from University and was looking for a 'proper' job. Due to my strong accent it was difficult to get the job that matched my skills and qualifications. Since I was working at an enterprise agency I realised I could actually start up my own business.
I had thought about a magazine, since there was a gap in the market since there were no magazines portraying the French-speaking community. The idea was to bring together French-speaking persons. Now more and more English speaking persons are subscribing to the magazine, which is now used as an educational tool to teach and learn French in university and college. It has become with time a platform to introduce French language and culture.
Precious: What was the route to your business?
When I started my business I had gained experience in many industries but never had a 'proper' job. I had just graduated from the former University of North London (now the London Metropolitan University) majoring in English Literature. I am now completing an MA in French and Francophone studies by research work with the University of Westminster.
Precious: Tell us a little about your business planning stage.
Without the support of government-funded schemes such as Business Link for London, mentoring and advisory session I would not have gone very far! Through business advisory sessions with various Enterprise Agencies such as Enterprise Enfield and Princes' Trust, I received the back up necessary to start-up. I attended seminars and workshops and even did a Preparation to business course. I managed to save money during one year through the North London Credit Union and benefited from the Phoenix Fund to raise part of the capital needed to start up.
Precious: Did you encounter any setbacks while you were setting up your business?
The need to convince people that the magazine was a viable venture was not very easy. It is a costly enterprise that can put off many investors. I have had a hard time securing the capital needed to start up, but once done, I worked very hard to prove that my idea and I were trustworthy.
Precious: Is your family supportive of your business endeavours?
My family has invested in my business and is very proud and supportive of my enterprise. After three years trading, I have even managed to reimburse the total amount borrowed from them.
Precious: What do you love most about what you do?
I like receiving feedback from readers and happy clients. It is very rewarding to get e-mails, cards or letters from readers stating that they have enjoyed reading the magazine and that thanks to Francophony magazine they have discovered more of the French speaking art and culture.
Precious: Is there anything you dislike about what you do?
I dislike difficult clients that come back to get more than what they signed for. It can be very stressful to deal with this type of person…luckily it does not happen often and when it happens we try our best to satisfy our clients…after all the client is always right!
Precious: Away from your business how do you relax?
Part of my job involves attending events so I get to relax through my work. I am more of a work alcoholic and cannot stay without thinking about a project or a new idea.
Precious: Where do you see your business in five years time?
The magazine has achieved quite a lot within the last three years. We are planning to export more and more and secure more subscriptions and advertising. I have won an award on behalf of the magazine and I am about to go on a Trade Mission to Prague to secure new markets..
Precious: What advice would you give to someone who wanted to start their own business?
It is not easy but it is worth it. A key aspect is to believe in your idea and above all "keep on trying". Some doors might be hard to open, others might open easily, never take no for an answer.