As part of promoting the valuable mentoring support delivered through Boost, we highlight some of the mentors working with Lancashire businesses behind the scenes.
So take a break and read about Len Rainford, a specialist in franchising.
Why did you choose to become a mentor?
I chose to become a mentor because I wanted to utilise my extensive business and entrepreneurial knowledge and help new and young companies to develop and grow successfully.
How do you make a real difference to Lancashire businesses?
I make a difference by giving businesses sound, realistic advice. Over the years I have had good times and bad times and I tell it as it is, warts and all. Hopefully by giving them advice based on my own experiences it makes a difference and helps them avoid or cope with the pitfalls.
What is your area of expertise and why is it an important area to for business leaders to address?
My area of expertise is franchising. Any successful business leader should consider it, as it is one of the most significant, stable and sustainable growth strategies that a business can implement.
What has been your most inspirational moment as a mentor?
There have been several but on a personal note it is advising my son, who worked for me for 10 years to go into the property market which he has done and developed successfully.
What are the key challenges for Lancashire businesses at the moment?
An obvious challenge for many businesses at the moment is the COVID-19 situation. While many businesses have thrived due to the nature of their business many have closed, and many have suffered and will take a long time to recover.
As a mentor, what are your three business growth tips?
1. Plan, plan and plan.
2. Use effective marketing.
3. Cash is king so make sure the cash flow is stable.
Over the years Len has started, run and sold five businesses, all in different sectors. As a Boost Growth Mentor he works with companies that need general business advice. His specialist area is franchising and helping companies to grow their business through franchising.