Mike Clare is the successful entrepreneur who set up Dreams, the leading bed retailer in the UK with over 200 stores nationwide. In 2006 the company recorded an annual sales boost of 26% (£154.5 million) and was named the fastest growing UK retailer in 2006. In 2008 the business was bought by private equity firm, Exponent and boasted revenue of £194 million. Clare is now the non-executive President of Dreams.
In this video interview Mike Clare speaks of how the entrepreneur has always been running through his blood and how starting up the business meant risking everything. Listen to how he raised finance to establish his business idea and the importance of customers and staff alike. Clare gives expert advice on how to offer the optimum service to clients and how to reward staff through bonuses and not equity.
The entrepreneur also advises on market research and being constantly up to date with competition. Mike also gives his reasoning behind the statistic that 80% of start ups fail in the first 3 years of operation and why he believes there should be a change in legislation for early stage small businesses.
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