Time is a funny concept in business. In one respect six months has gone in a flash and in another so much has happened that the start of this competition seems to be an eternity ago. But still, how is it May and more significantly competition judgement month already?
So to the bottom line - Socialite London doing? I am delighted to say – things are amazing! From the top:
Searcys:
OMG ~ The Gherkin! 10 short days after agreeing to host a Socialite London event at 40l30 it was 7.00pm and showtime. 170 Members of Socialite London and their guests arrived to enjoy a cocktail party without precedent. I had the privilege of greeting all members at as they stepped out of the lift on the stunning penultimate floor of the Gherkin to a glass of champagne and the most stunning room and view imaginable. Without exception all members and guests registered delight – including one Ms Jackie Brennan of Fresh Ideas Events!
The evening progressed into a memorable one for members and a landmark one for Socialite London. Such was the success of the Gherkin we are in talks with Searcys to host future Socialite events at a number of their prestigious venues [Searcys venues include 40I30, Royal Opera House, St Pancras Champagne Bar, 30 Pavilion Road, Barbican Centre, Hurlingham Club... the list goes on] including hosting the Socialite London Summer Ball at 40I30 ~ the Gherkin on Saturday 13th June!
That meeting:
The meetings culminating in that meeting went very well. The meetings were at the invitation of a Fabulous Prospective Partner. Initial discussions [flatteringly at the invitation of the FPP] were around options for a potential partnership but escalated to the point where the FPP was considering buying Socialite London outright with clearly enormous implications either way.
There were many rounds of meetings and challenges from the FPP which I answered comprehensively. On any count business development heaven is very smart people challenging the current and future business of your business and entrepreneurial gold is challenging your business to answer the very challenging external questions raised.
Polly was key in supporting and advising me through this negotiation however her most valuable advice was not to focus on ‘the negotiation’ to the detriment of the day job of running Socialite London. This advice was key – critical even as the business models and strategies for a future with the FPP was hugely time and focus consuming. To this end I asked that negotiations with the FPP be expedited to avoid compromising the future of Socialite London with protracted negotiation.
In conclusion, at the 11th hour it looked like an offer would be made and provisional takeover dates were agreed. Final negotiations were initiated but ultimately it was not possible to get to an agreement - this time. I still adore FPP and never say never but not now. Further to the decision not to proceed I sent FPP a note to express my gratitude for the opportunity of the discussions and my utmost regard and respect for the head of the FPP and her business.
But get me! So much older and wiser in the commercial sense.
And as one door gently closes, another very elegant door opens. Socialite London is currently in negotiation with an extremely prestigious organisation with a view to providing member services to their soon to be launched exclusive members club.
Along the way:
I am thrilled to have been able to return a small gratitude to Fresh Ideas Event and the wonderful Polly Gowers for the recent Social Business Event held in March. Socialite London was able to negotiate a Fifteen Restaurant Gift Voucher for all delegates and for the competition winner to have a business lunch with Polly Gowers as guests of the fantastic restaurant and social enterprise that is Fifteen.
I love MAD women:
What a privilege to be part of this network!
I will be forever grateful for my mentorship with Polly who is a bloody impressive business woman by any measure of business and personal success. I am totally humbled by her time, vision and support for my business. I am acutely aware that Polly could charge businesses tens of thousands of pounds for the consultancy and support she has given to Socialite London and dumbfounded that in the name of mentorship she has given it all for free. Such generosity of time and character is beyond measure.
At the halfway point we were asked what we would like to ask our mentors. I asked Polly if we could keep our mentor relationship going and I am so moved that she agreed without hesitation. My dream would be to keep a monthly call, lunch or cocktail hour with Ms Polly Fabulous Everyclick Gowers and to my delight she has agreed.
I am also privileged to have had opportunity to spend time with Karen Hanton of toptable and her business. Both Karen and her business are inspirations to me.
Along the way I have arranged for the mentees to get together at the Refinery for a sharing of challenges and initiated a mentees working session which was generously hosted by our fellow mentee Gina of Divine who decided to exit the competition and I wish her all the happiness and success in the world.
And finally, this Monday 11th May is going to be quite a day! It is my birthday, the judging day of this competition and I have an afternoon champagne date with gorgeous Jo Haigh for a catch up.
As it’s my birthday I hope I win.
But did I succeed?
I look back with pride at what Polly and I set out to crack at the beginning of this competition.
In short summary we have identified:
Route to members:
Prestigious event led offers in leading review and dining newsletters including toptable, Square Meal, View London and My Village. Events have to have a WOW! factor to create the member traffic so the Mid-Summer Ball [250 tickets] and Summer Boat Party [340 tickets] are key events.
We are currently attracting 100 to 200 new members a month on this strategy which is both cost effective and delivering quality members.
Route to Partners:
We have just issued a series of press releases through Food 4 Media offering brands, PRs and journalists:
- Founder membership promotions
- Event sponsorship and product experience opportunities
- Member offer invitations
Who are we?:
The tough nut is cracked:
- Socialite London is a members club bringing exclusive invitations to your desktop.
Time:
My baby now 18 months old and full of ambition is very happily in nursery 3 days a week which gives me time to run Socialite London effectively as well as non work time with my gorgeous, happy, amazing little boy.
The decision to increase his nursery time from 2 days a week to 3 days was a big one and another area where Polly was a huge support as both a business firecracker and a mummy.
Money:
Here is a big change – Socialite London is making money! Modest money but money none the less and I cannot tell you how proud I am! The money is staying firmly in the business to fund future developments and the funding of route to member promotions but we are very much up off and away.
Thank you all xxxxxxxxxxxxxxxx
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