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Lena Björck - Managing Director - Inn or Out - Serving Up A Quality Business

Entrepreneurs World Event - 21 April 2010 - A reminder for those that were there - A flavour of the meeting for those that could not make it

Lena Björck Managing Director Inn and Out Serving up a Quality Business

Lena Björck takes questions from Entrepreneurs World Members and Guests

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Lena Björck Managing Director Inn and Out Serving up a Quality Business

See related topics and documents

http://www.inn-or-out.com/lena.asp

1. Luck

1.1 No school grades

1.2 Became a Traveller

1.3 1994 - Churchill Hotel

1.3.1 Breakfast Manager

1.3.2 Gave the Customers Service beyond the menu

1.3.3 Pushed staff beyond their limits

1.3.4 We fell out

1.4 Started my business

1.4.1 Inn or Out

See related topics and documents

http://www.inn-or-out.com/

2. Early Years

2.1 Target Market

2.1.1 Members of Swedish Chamber of Commerce

2.2 Individual letters

2.2.1 3 per week

2.3 First Job

2.3.1 No van. Went by tube

See related topics and documents

http://www.tfl.gov.uk/modalpages/2625.aspx

2.3.2 Nobel Dinner Standard

2.3.3 On domestic kit

2.4 Needed a Van

2.4.1 Banks turned me down

2.4.2 Princes Trust

See related topics and documents

http://www.princes-trust.org.uk/

2.5 US Embassy

2.5.1 Received quote request

2.5.2 Bill Clinton

2.5.3 Thank you letter. Best food ever.

3. Learning

3.1 Give the Best Service

3.2 Have Great People

3.3 Give Value for Money

3.4 Under Promise and Over Deliver

3.5 Don't discount

3.6 No Sales Force

3.6.1 Employees

3.6.2 Customers

4. Customers

4.1 The Queen

4.2 Major International Companies Boards

4.3 Partnership

4.3.1 Mutual respectful relationship

4.3.2 Not what BAE wanted

5. Staff

5.1 Represent My Values

6. Business

6.1 No advice

6.2 Sell more. Make more

6.2.1 Not quite like that

6.3 Recession

6.3.1 Internal Lean and Mean

6.3.2 Increased margins

6.3.3 Made more money

6.4 Multi-Millionaire

6.4.1 Long Term Private Client

6.4.2 Focus

6.4.3 Maintain Price

6.5 Turn bad business down

7. Opportunity

7.1 Olympics

7.2 Be proud to make money

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Lena Björck takes questions from Entrepreneurs World Members and Guests

1. Firing clients - Is this common?

2. How do you manage it? What is in it for the mentor?

3. Why did the White House give you the job?

4. What would change from the past?

5. When times were bad, what was your mind set?

6. Team or Individual?

7. Do you think you will make same mistakes in the next recession?

8. How much is the business you?

9. Have you focussed?

10. Groom the team or bring in outsiders?

11. What are your exit plans and when?

1. Firing clients - Is this common?

1.1 No we have great clients

1.2 Created our integrity

1.3 Message - Don't mess with us

2. How do you manage it? What is in it for the mentor?

2.1 Money is not relevant

2.2 Over enthusiastic

2.3 Free favour

2.4 Rewarded by share profit

2.5 Our staff have share options as well

2.6 Selling?

2.6.1 He will be involved and rewarded

2.7 Was it awkward to discuss?

2.7.1 No. I like talking

3. Why did the White House give you the job?

3.1 We were recommended

3.2 Then people buy people

3.3 Price is not an issue

4. What would change from the past?

4.1 Get the right equity

4.2 Employ a financial controller sooner

5. When times were bad, what was your mind set?

5.1 The business was guaranteed by me and we had no orders

5.2 We should have have gone bust

5.3 I refused to listen. I did not give up

5.4 But difficult to motivate staff

5.5 My competitiveness kept us going

6. Team or Individual?

6.1 Swimmer

7. Do you think you will make same mistakes in the next recession?

7.1 No - My mentor will stop with me

7.2 Learn't the hard way

7.3 I used to get excited about going to Milan for uniforms

7.4 Now we have a good bonus scheme and we are all looking for ways to make money

7.5 Staff are helped to leave, if that is what they want

8. How much is the business you?

8.1 Not operationally involved

8.2 Thinner but more effective team

8.3 Match staff to clients

8.4 Use more freelancers now

9. Have you focussed?

9.1 Swedish (Ascot) Burger Bar

See related topics and documents

Frozen Prawn Burgers

9.1.1 Fun

9.1.2 Not Profitable

9.2 Harvey Nicks

9.2.1 Frozen Prawn Burgers

10. Groom the team or bring in outsiders?

10.1 Insiders please

10.1.1 Sink or Swim

10.1.2 Learn

10.1.3 Rectify

10.1.4 Retain client

10.1.5 Retain staff

11. What are your exit plans and when?

11.1 Not forever

11.2 Secret

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