I’ve just come across two new names in the Jamie Oliver business stable, and I’m beginning to think he might be an even more inspirational figure than Sir Richard Branson. At 38 Oliver is reputed to be worth £150 million and he doesn’t seem to be out of ideas yet.
The Jamie Oliver Empire
In my last post I queried whether diversification might help struggling small businesses, well Jamie Oliver shows how to make it work. His website boasts six different restaurant formats but an article I was reading earlier suggests that there are two different formats of Jamie’s Italian so that makes seven. He’s written around 16 books, made at least 12 TV series and some random programmes, been the face of Sainsbury’s and now has the contract for all the public catering at Lords, the home of cricket. That’s not to mention all the product endorsements, the better school meals campaigns and the work he does to get unemployed people into work. Wow!
I think I am most impressed by one of the more recent ventures, Recipease. This is the one that is most original and seems to pull together more of the strands of Jamie’e enterprises. Although listed on his website as a restaurant Recipease is a food and kitchen shop where one can buy ready meals and kitchen equipment and there’s also a cafe. However the real difference is the cookery lessons and cooking parties. You choose the recipe you would like to learn to make and then book your slot, you get expert tuition and a glass of wine. You can book one place or go with a group of friends for a cooking party.
So what are the lessons for the small business owner?
Jamie Oliver may have diversified his business interests but they all rely on his passion for good food and getting us all to eat better. He has packaged his expertise into a range of money making ventures and that’s what we could all do with. He has built a team of people to help him deliver across all his offers.
The trouble with having just one offer or one route to market is that we can become victims of fads, fashions and the economy. If we can follow Jamie’s example and use our skills and expertise in different ways then we have the opportunity to generate income in a variety of ways and so spread the risk.
I know I’m not the only small business owner who tries to do too much herself. We need to learn to bring in other people to help us. We need people who can do what we’re not so good at or don’t like doing. We need people with different skills and experience to our own. Whether we employ people or do joint business ventures with trusted associates we stand to gain more by working with others.
My challenge to you
With 2014 just 62 days away I’d like you to start thinking whether you should be looking for ways to add additional income streams to your business. Do you know somebody with whom you could develop a joint venture that would work for both of you? Is there a different way to package what you do and reach a whole new audience?
Our 21 day Make Money Challenge starts again on November 21st and will lead you through some of the things you’ll need think about and do to generate more cash in your life or business. Why not join us, it’s free? Email me at firstname.lastname@example.org with subject line ‘Add me to #21DMMC’ and I’ll make sure you get your daily email. Can’t wait until the 21st November? Then visit www.21daymakemoneychallenge.co.uk and join the programme that has been running since October 21st.