Hi Susan, can you tell us about yourself and what inspired you to set up your business?
I’m an entrepreneur, lettings expert, mum of 2 and owner of a terrible terrier. I love being an entrepreneur and working for myself. Nowadays, I can’t imagine being employed. I like the freedom being self-employed gives me to create my own work / life balance.
I have been self-employed for nine years and I’m now on my second successful business and I was employed for four years before that. With hindsight I realise that employment constrained me. I like the freedom I have to make decisions and I enjoy being the master of my destiny. This suits me as I like having control of my life. Self-employment can be stressful but overall the positives do outweigh the negatives.
I never planned on starting a lettings agency but the opportunity presented itself to me and I grasped it with both hands. I was very lucky to be approached by several landlords and asked to open an agency despite me not being in the industry at the time. I soon realised the world was telling me to start Lets Manage and so I took the leap.
What tips would you give other women who are thinking about setting up their own business?
Plan well and take your time. I planned Lets Manage for months before commencing trading. I spoke to potential customers and carefully analysed if this was a business that could make money. This was not a quick decision.
I like to think my business is a replication of my mindset and values. I make money ethically and I treat my landlords and tenants as I would like to be treated. When explaining an issue to a landlord, I think how I would like this explained to me and it’s the same with tenants. I always think about what I would think if I was a tenant. I put myself in my customer’s shoes. Don’t be afraid to let your personality shine through!
Think about what you might struggle with and buy in the expertise, e.g. accountancy, web design, IT support, legal advice. I review what the business needs and then think about how my time is best spent. I know what my strengths and weaknesses are and I know what I can and can’t do in a reasonable time to a reasonable standard. If I think my time is spent better doing another activity, I buy in the support. You have to spend money to make money!
We love your ethical approach to property management – what are the benefits of the internet for your business?
I find all my tenants through the internet. Potential tenants find me on Zoopla and Facebook and I couldn’t run my business without the internet. I’ve structured the business so I can work remotely and I don’t need to work from my office. All documents are cloud-based with Google Drive and my internet is on a Google business account. I find the flexibility of being able to run my business from my mobile a huge advantage. I can be anywhere and doing anything and I can still be in control. Making a business internet based has given me the work / life balance I wanted.
What are your future plans for Let’s Manage North East?
Long-term I’m thinking about franchising the business nationally but actually in the short-term, my future plans are to build up my client base in the North East to strengthen the brand. I want to retain my customer base and grow at a sustainable rate. When I’m ready I can see how the business will grow substantially but I want the time to be right for me. I don’t want to expand until I know I can deal with the consequences!
Photographs by Rachel of RJM Photography.
Name of interviewee: Susan Edwards
Business name: Let’s Manage North East
Website: www.letsmanagenortheast.co.uk
Facebook: www.facebook.com/LetsManageNorthEastLtd
Twitter: twitter.com/letsmanage
Business type: Property management
Location: Ashington, Northumberland