Owner: LOSING £150K on a childhood dream business - with Jo Stimson

In this episode of Beyond The Fail, we have the pleasure of speaking with Jo Stimson, a highly experienced entrepreneur who spent 19 years as the Managing Director and part owner of an electric underfloor heating business, which she grew and eventually sold. Jo's career journey started in finance with Midland Bank and included working with Littlewoods Football Pools leading a large remote team.  Throughout her career, Jo has developed a strong skill set in sales and customer service, winning multiple awards and even being nominated for Business Woman of the Year in 2022. During the podcast, Jo shares her experiences and insights on various topics, including how childhood experiences can shape career aspirations and the importance of having a strong team to overcome difficult situations. Jo also talks about the challenges of leading a business while caring for her ill mother and the struggles she faced during the 2008 recession, where her business lost 30% of its turnover. One of the key highlights of her journey is her ability to successfully pivot her business during the recession, which ultimately saved the company. She shares the importance of face-to-face relationships in sales and the challenges she faced as a female leader in a male-dominated industry. She also discusses her experience of launching an e-commerce business from scratch with no prior experience. Although the venture didn't yield the desired results, she reflects on the valuable lessons learned and the personal growth that came from the experience.  Overall, this episode provides valuable insights into the ups and downs of entrepreneurship and the importance of resilience and adaptability in the face of failure. Jo’s story serves as an inspiration for aspiring entrepreneurs and business leaders.   About Jo Stimson Jo Stimson is a highly experienced entrepreneur, having built, scaled and sold a bricks and mortar business in 2022 she is now using the skills learned over her multi faceted career along with coaching and business strategist qualifications to help business owners turn their sales teams into cash machines. Starting in finance with Midland Bank, working with Littlewoods Football Pools (yep remember them!) time spent at Next, a generator manufacturer and ending up with a 19 year career as Managing Director and part owner of an electric underfloor heating business.  Sales and customer service are her flag waving specialties, winning multiple awards and nominated in 2022 for Business Woman of the Year. Key Topics Childhood experiences can shape career aspirations. Support from colleagues and a strong team can help overcome difficult situations. Developing habits can help build resilience. Dealing with cash flow issues  Importance of face to face relationships in sales Struggles of leading a business whilst caring for her ill Mum Successfully pivoting a business saved the business during the recession Being a female Leader in ‘male dominated industry’ Losing 30% of turnover during 2008 recession  Galvanising a team in a crisis Trying to take on the giants in an industry  Early success in generating leads but not converting into sales Building an e-commerce business from scratch with no experience  The feelings of grief and loss after selling the business  The dangers of a launching a overly complex business model  Book mentioned: The Slight Edge and The Compound Effect    Connect with Jo  Linked-inEmail : [email protected]    Stay connected with Beyond the Fail: Join our mailing list here InstagramTik-tok Linktree See omnystudio.com/listener for privacy information.