Entrepreneur Country is a UK magazine I enjoy reading for stories that are refreshingly different insights. The views “from across the pond” provide a perspective on entrepreneurship that is distinct from the usual fare in the United States. Instead of a fascination with high-tech start-ups and deal making, the editors choose to feature entrepreneurs from other industries. The stories that are shared bring to light principles that can be applied across many settings.
Identifying a gap in the market to provide a unique solution to a problem can be hard, but very rewarding. Michelle Mone found that helping women get what they want has been a path to success for her company, MJM International. MJM has made her one of the top 3 female entrepreneurs in the UK. Mone shared key points of her entrepreneurial journey in the July issue of the magazine.
Not only (has) Ultimo (been) revolutionizing the lingerie industry, it (is) now taking on cosmetics, with every product going through several rounds of testing [‘Every product has to be the best, I don’t accept second best’ – Michelle] and perfecting before it reaches the high street. “We have new products launching all the time and we have 13 inventions in total. The gel filled bra that we invented 12 years ago as an alternative to plastic surgery was what made us, because Julia Roberts wore it in Erin Brokovich. Then we have the 24 hour bra that you can’t feel that you’re wearing, and now UTan. I think next year we will expand further with a full on cosmetics range”.
“You just have to be incredibly organised, but I’m not super woman and I do get things wrong.” Ultimo suffered an enormous setback in 2002 when a married couple, distributors for MJM, fled with £1.6million.
Well put! Every entrepreneur–female or male, in fashion or services, regardless of challenges–will meet with greater success if able to convey passion for the target audience and its needs.