Budding businesses have got to be in it to win it!

Earlier this month, during Global Entrepreneurship Week, Marketing Derby launched its annual Rising Star competition, which aims to give budding businesses a helping hand. Rachel Hayward, founder of business consultancy Ask the Chameleon, is a previous winner of Rising Star with Swap Shop, a collaboration with Lee Marples of think3 and Dean Jackson from HUUB. Rachel specialises in tender writing and applying for business awards on behalf of firms. Here, in her own words, she shares tips on how to put forward a winning application – and shares her own journey building her business.

With Global Entrepreneurship Week taking place earlier this month, it is heartening to see the continued rise of the self-employed – aka, the business owner, side hustler, freelancer, sole trader, entrepreneur, solopreneur, company director – so many “names” to choose, the list is endless!

The rise of the gig economy, changes in the labour market (as many sought alternatives during the pandemic) and the increased availability of remote and freelance work opportunities, has resulted in more people choosing self-employment as a way to have more flexibility and control over their work.

We know there are 5.6 million UK small businesses (0-49 employees) who employ half of the UK’s workforce.

Yet, success rates remain stark. It’s estimated that around 20% to 30% of new businesses in the UK do not survive their first two years.

Some industries, like technology and information technology, have higher growth and success rates, while others, like restaurants, retail, and hospitality, face more challenges.

Equally other factors such as location, economic conditions, access to finance, business plans and funding all help build success.

A final consideration lies in the skills and entrepreneurial experience of the founders themselves.

Those with previous experience and a strong understanding of the industry are shown to have a better chance of survival.

When I started Ask the Chameleon in 2015, I had the industry experience – I honed my writing skills while employed in the charity sector – but I had little “running your own business” expertise.

I have never favoured the title “entrepreneur”. I learned on the job; and FAST!

I found in Derby the most supportive fellow business owners and freelancers, only too willing to share their tips and battle scars, and most importantly their connections.

It was this that led Dean Jackson, Lee Marples and I to create the Swap Shop business-to-business platform during the pandemic; to help fellow small business owners and charities survive the direst economic conditions in over a decade by swapping their skills with each other.

A movement started in Derby, rapidly scaling UK-wide within mere months, it saw over 1,000 business owners help each other and lasted three years, which was more than we ever intended it to.

Ran totally for free (first “business” fail, but a necessity during the pandemic), we tried to wrap it up many times, especially as demand for my bid writing services soared and think3 and HUUB equally experienced surges in demand.

But, evoking a line from The Godfather films “Just when I thought I was out, they pull me back in”, Swap Shop had struck a nerve.

Businesspeople may be competitive, but they have heart, and reciprocity is alive and well among the UK’s small business community.

So much so, we were recognised for our work when Swap Shop won the Marketing Derby Rising Star competition in 2021, a two-time finalist in the Great British Entrepreneur Awards and won the Federation of Small Business East Midlands Community Award in 2022.

These accolades certainly propelled us forward, and one I hope we will mirror in our new venture, the hookup – an online matching platform for micro and new businesses looking to find others to collaborate, connect and trade.

You may (or may not) know, I am a huge advocate of business awards.

The entrepreneur life is lonely and requires many a sacrifice.

Participating and winning awards can be hugely beneficial in terms of customer decision-making, increased turnover, brand awareness, market position but also rewarding in terms of evaluating progress, achievements, and future plans.

For those firms with staff its significantly motivating for them (especially if they are nominated) and it does support recruitment decisions.

We’ve all chosen the “award-winning” bottle of wine or bar of chocolate, haven’t we?

“But writing about myself makes my toes curl, Rachel”, I hear you say.

Yes, I know, so pretend you are writing about someone else. Or ask someone to help you. You’d be amazed once you start talking about all you have achieved. Treat it as a necessary marketing tool in your kitbag.

But awards are not going to bring in the money on their own. Particularly in the early days – or depending on your decisions – you are everything to your business.

I liken it to being a juggling octopus – forever spinning the plates, keeping the balls in the air, all at once.

You are the subject expert (e.g., bid writing, graphic design, etc) AND you are also sales, accounting, marketing, IT, legal, social media, events organiser, networker, PA/administrator.

It can feel overwhelming, and this is where your network is vital. You can’t (and don’t need to) know it all, and people buy from people.

The winner of the Marketing Derby Rising Star (did I mention, entries for 2024 are open now?) receives one-year free Bondholder membership.

This is such a golden opportunity to use that ticket to meet, connect and get to know as many people as possible.

But don’t just shove your business card under their noses; listen to them, get to understand their businesses and how you can work together – maybe not now, but who knows where the future will take you?

I didn’t expect to build the Swap Shop with two other business owners – that certainly wasn’t on the cards in 2020.

The most exciting, and frustrating, part of business is the rapid change and rollercoaster we experience.

The skill is in trying to minimise the impact of the extreme highs and lows – that’s our philosopher’s stone.

We do this by refining our “art”, making great and reciprocal relationships, and keeping a weathered eye on the horizon for the next opportunity.

An area that boomed for many during the pandemic, was government contracts.

The only game in town during a time of economic uncertainty, many companies took the leap of faith and entered the tendering arena.

With my clients, we reached £116 million in opportunities including university frameworks, central government unemployment contracts, legal tenders, digital training and more.

Armed with some tips, you too could be part of a billion-pound commitment made by our government to facilitate the path to successful procurement for small and medium sized businesses.

My top tips are:

1.Research – find who you want to supply, and how they advertise their opportunities.

2. Download an example – create a checklist of what you need.

3. Create an action plan – pace yourself.

4. Allocate enough time.

5. Answer the question.

These tips equally apply to awards. You have to make space in your workload to do these well – or delegate to someone else in your team.

Having your own business (side hustle, being a freelancer, call it what you will) takes guts, faith, confidence and a measured approach.

We ride the rollercoaster because we enjoy it; the highs carry us through the lows, and we continually operate outside of our comfort zones.

Writing awards about yourself, or submitting a tender, takes no less of a leap of faith – so be armed and prepare for battle.

So, what are you waiting for? You have to be in it to win it!

*Entries for the Marketing Derby Rising Star 2024 are now open.

To apply, please e-mail Lindsey.hatfield@marketingderby.co.uk by Monday 15 January.

Applicants should send in an outline their business idea, a brief background of their story so far and why they would like to become the next Rising Star.

The applications will be short-listed, and successful applicants invited for a short interview.

The winner will be announced at Marketing Derby’s Annual Business Event in February.

Applicants must be in their first 18 months of business and willing to attend at least 10 Bondholder events during their year as Rising Star.