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Penny Power - Founder of Social Business Network Ecademy Penny Power, Founder of Social Business Network Ecademy, accessed through the internet it connects business people throughout the world. With over 250,000 members, growing by 10,000 members a month the online network allows you to introduce yourself - create a Profile, find friends and colleagues and search for new contacts. As part of this members can message other members to build up a network, join and/or run Clubs, respond to blogs and attend networking events. Depending on the level of membership the Ecademy network offers Accelerated Business Development with professionals in private clubs, mentoring groups, exclusive events and 1-2-1 meetings. The offline network has become just as important as the online with members running 500 events every month. Living in Surrey with her husband and Co Founder Thomas Power with three children - a daughter 15, and two sons one 14 and the other 11, she believes in having a warm and supportive network around her to share life’s ups and downs. Penny talks with passion and drive about the turbulent years of the dot.com crash to where they are today as one of the leading on and offline Social Business Networking companies. A serious entrepreneur Penny had the vision in 1998 well before any other social networks came into the market. Today social networking plays a huge part in the internet world, but it wasn’t like that 10 years ago. Q: What gave you the idea? Penny: “In 1998 Thomas my husband had just decided to go self employed, a serious networker and was always inviting people back to the house – he was always bringing people together. It was then I thought if there was some way of uniting all these people together and said to Thomas why don’t we start an eBusiness community a platform to help business people around the world to share each others knowledge each others contacts and develop one another’s careers”. Q: Was it hard to get started? Penny: “Initially it was easy to start before the crash it was a bit strange, a bit heady. The internet was very static and you have to remember that the internet was not like it is today; our website was very limited it was more like a brochure initially – there was a member’s directory, offline events and members could send messages. It’s always hard to trail blaze and educate the market. If you are the only person in a market, you are educating all the time, educating the market why they should do it.” Q: Have you had any difficult times? Penny: “In 2000 we were part of the dot.com crash – that’s when we really learnt about the power of a community and how for us it was a big decision do we still fund it of what turned out to be through 5 years of pain or do we turn the button off and Ecademy is no more, you can’t just do that with a community how can you say to someone that this is somewhere you are thriving making friendships and relationships and actually we’ve just decided to close the door on it. We had no choice but to continue and to allow it to continue.” Q: What do you wished you’d known when you started your business? Penny: “I would liked to have know how much it was going to cost; it’s all the hidden costs you can’t foresee. I also wished we’d been fully aware of all the facets of running a business. About 18 months into the business it became extremely hard – it was a very very hard journey at that time when you are running your own business we just never stopped thinking about it – it was with us 24/7. Financially we had no income but we were working all the hours of the day and as the business grew and became more successful the more costs we incurred.” Q: What was your biggest break? Penny: “Our big break came on the advent of other social networks as these projected the importance of these websites, and by 2001 we were offering a forum although it was very basic, we learnt to do new things and because we had a great CEO who kept his ear to the ground we were able to use the latest technology, such as Video, podcasting, social skills we selected tools that were useful Q: What advice can you give other women? Penny: “You need to understand the intention of your business and you must always communicate that intention – keep the focus of what you want to achieve. There are two questions you should ask yourself: The first is: When you put your head on your pillow at night – ask this question – Do more people know about me and my business than this morning? The Second is: What have I done today that has attracted people towards me, do they know I’m good at what I do? This gives you credibility.” Q: Do you believe in luck? Penny: “Lucky no – no I don’t think it’s about luck I think it’s about hard work and not taking anything for granted.” Q: What are your Top Tips for Networking? Penny: “Always be yourself. When you network be keen to listen to other people and find out how you can help them. If you show an interest in other people and their business and are keen to promote that business they will also want to help promote your business.” Q: What Part of the Business do you Enjoy? Penny: “When you start your business you try and do everything – a great analogy that Roger Hamilton a wealth guru uses – imagine yourself as a candle when you start your business you are in the flame, you are passionate, excited you are doing everything you want to do, but as the business grows you find yourself moving into areas of your wax which isn’t necessarily the stuff you’re good at but you think I need to do it. My flame is speaking to people, blogging and teaching. My wax is doing the book keeping, answering support emails. If I had carried on doing the tasks that fall into my wax they would have taken over and the business would not have grown. You need to able to give the tasks that are your wax to others to allow you to grow your business. Recognise your strengths and what you enjoy doing.” Q: Who are Your Role models? Penny: “Anita Roddick she went through massive financial hardship and again beating the drum for a cause. For more information on Ecademy www.ecademy.com/
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