Meet Marjorie Price, founder of Price Management Consultancy Ltd.
Introducing Marjorie Price, founder of Price Management Consultancy Ltd. Marjorie is a specialist in training those in a management of leadership position with the essential skills to manage their workforce more efficiently and effectively. She provides mentoring services – supporting leaders and managers with some of the more difficult decisions they may face. As well as coaching – Supporting managers and leaders to harness their ideas, and turn them into action.
We spoke to Marjorie and asked her to tell us about her business and how it came into being…
Why did you want to start up a business? What was your motivation?
Having 20 years of management and leadership experience, I was very aware of some of the challenges and pressures managers face, on a day to day basis. Particularly in the area of staff management. I knew from experience that it is the most unpredictable area of your management responsibilities, and it is also the area where you will receive the least help. I wanted to change that narrative.
One of my specialist areas is working with managers in the area of “Managing with Emotional Intelligence”. I am passionate about it, as I have seen too many staff leaving their managers and not their jobs, as I have also done in the past, research also supports this. Too many managers manage without enough control of their own emotions, and often don’t recognise the emotions of their staff. This is largely done unconsciously, due to a busy workload. I teach managers that managing with emotional intelligence will leave their team motivate, increase productivity and increase staff retention.
How did the SiLL project help you in setting up your business?
The SiLL programme has been an invaluable resource, that has supported me with setting up and running my business.
What was the most helpful part of the SiLL project for you?
1-2-1 and the training provision.
Can you tell us a bit about Sarah and/or the Waltham Forest business community that is coming as a part of SiLL?
The 1-2-1 support with Sarah has been brilliant, from signposting me to relevant services outside of the programme, to practical help with developing my website and much more. Sarah is friendly, supportive, encouraging and a good listener.
The overall training provision has been well thought out; there is a course to help you at every stage of your business journey.
What advice would you give anyone looking to start up a business?
Don’t start your business to make money. Only start a business because you are passionate to make a change, in the lives of the people your business is set up to serve. It's hard work and takes time. if you're only in it to get rich quick, you won't last, as the journey is tough. Often, it's only your passion to make a difference that will keep you going.
What are the key things you have learnt while starting up your business?
- Get as much help and support as you can from free services, as you won't be making any money while you are setting up.
- Use the funds you do have wisely
- Clearly define who your customer is
- Join relevant business networks with like-minded people, they will be able to offer you help and support, without an agenda
- Call on friends and family to support you were they can
- Your mind will be constantly thinking about the business, always have a notebook or your phone available to jot down your thoughts
- Remember to take a break during the day and book yourself time off for a holiday. It is so easy to become a workaholic you need a good work-life balance. If you burn out there is no one to take the reins
What would you say to anyone looking to go to a SiLL workshop?
'Talk to their local SME Champion. Don’t hesitate, there is nothing to lose but everything to gain.
What have been the biggest challenges or opportunities associated with the Covid-19 lockdown?
The biggest challenge I faced with Covid-19, was how to continue working through it.
Opportunities – I looked at my business as a whole and what I could do to support others through it. As a business development trainer, I looked at what challenges Covid-19 through up for businesses. Then looked at what I could offer to support them. After speaking to various businesses, I developed a group of training courses that would help them through; Change Management, Managing Stress & Anxiety for Self & Others and Managing Staff Remotely.
The biggest change was moving from face to face training, to delivering training live through an online platform.
For more on Start-ups in London Libraries and how to register for our upcoming workshop, visit www.bl.uk/SiLL.