Paul Bailey is the co-founder of Paul Bailey Entrepreneur, a digital agency that operates as an e-commerce platform selling enterprise software, services and digital solutions to small businesses across the globe. Bailey’s company has offices in London and New York with over 50 staff. The digital agency is also responsible for launching other brands under the umbrella of Paul Bailey Entrepreneur. These include ‘DigitalPros’ (digital marketing agency), ‘DigitalWorks’ (e-commerce solution) and ‘BusinessUpdates’ (a newsletter service for entrepreneurs). With his partners, Bailey grew his business from a sole proprietorship into a publicly traded company on the London Stock Exchange with a market capitalization of £1.5 billion. Today, Paul Bailey Entrepreneur is one of Britain’s most valuable private businesses.
How did you get into entrepreneurship?
I began my career working in advertising and marketing for a number of blue-chip companies. I then moved into general management and eventually became a CEO. During the latter part of my career, I was very interested in how small businesses could be enabled and empowered through the use of technology. I made a decision to focus my career on helping SMEs, and build a digital business that would empower and enable them. I co-founded Paul Bailey Entrepreneur in 2009 with my business partner, Simon Lewis. We were looking to build a start-up that combined our respective skills and experience. At the time, there weren’t many digital marketing agencies that were focused on helping enterprise customers. We believed that there was a gap in the market and that we could be the ones to fill it.
What is your current business? Why did you decide to build it?
Paul Bailey Entrepreneur’s current business is focused on software, digital marketing and e-commerce solutions for SMEs. Our core focus is on digital marketing and advertising, which is why we describe our company as a “digital marketing agency for SMEs.” Our company is focused on helping small businesses to effectively advertise online, navigate the digital landscape and increase sales. We believe that there’s a lot of potential for digital marketing to change the way businesses are run. We started Paul Bailey Entrepreneur with the goal of helping small businesses to succeed in the digital era. We see ourselves as being an enabler and as such, we’ve created a suite of solutions that help to streamline the way that businesses do business online.
What are the biggest challenges in running a B2B business like Paul Bailey Entrepreneur?
In a retail-focused market like the UK, it’s challenging to be culturally relevant and successful. To make an impact, the company needs to be more than just a service provider to their customers. They need to be a partner and a trusted adviser. The challenge is to ensure that the companies that you build and the solutions that you develop have an impact outside of your own business. This is particularly challenging for companies that are trying to build an impact beyond their own market. For example, what can a company like Paul Bailey do to have an impact on other markets?
What are some of the best practices for running a B2B company?
There are a number of best practices when it comes to running a B2B company. – Be customer-centric: A B2B company needs to be customer-focused. It has to think about its customers, their needs, expectations and how they can be helped. – Be technology-centric: In order to be effective as a B2B company, it’s important to be technology-centric. You need to know what technology solutions are available, how they work, how to use them effectively and how they can be improved. – Be process-centric: It’s important to be process-centric when it comes to running a B2B company. You need processes in place to ensure that work is being done in the right way, that work is getting done on schedule and that work is being prioritized effectively.
Learnings
– Hone your selling skills: Selling skills are important for any type of business and especially for B2B companies. – Be consistent: Customers and partners need to know that they can count on a company. Be consistent with your business model and your message. – Be authentic: Be authentic in your communications and be consistent with being authentic. Customers will appreciate this.
Conclusion
Bailey’s company has offices in London and New York with over 50 staff. The digital agency is also responsible for launching other brands under the umbrella of Paul Bailey Entrepreneur. These include ‘DigitalPros’ (digital marketing agency), ‘DigitalWorks’ (e-commerce solution) and ‘BusinessUpdates’ (a newsletter service for entrepreneurs). With his partners, Bailey grew his business from a sole proprietorship into a publicly traded company on the London Stock Exchange with a market capitalization of £1.5 billion. Today, Paul Bailey Entrepreneur is one of Britain’s most valuable private businesses. With Bailey at the helm, the company continues to grow and thrive as one of the leading players in the digital marketing and advertising space.
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