THE BESPOKE SMALL BUSINESS

THE BESPOKE SMALL BUSINESS

Richard Bullock set up Barn 6 Furniture in 1996 and has grown his business over the last 22 years. He specialises in high end furniture often working with designers and architects on a complete refit of a home, office or retail space. I went to visit him at his impressive new workshop in Letchworth.

There are many challenges running a small business, but to date Richard has steered his firm through some challenging times in a field where price, quality and craftsmanship are terms used glibly by most.

As we worked on Richard’s financial planning one of the things that occurred to me was the full meaning of bespoke. A wry smile stretched across his face as he explained that one of the largest challenges in his work is getting clients to think about what they want. “Invariably people come with ideas and want to look through a brochure to pick something that they would like, but there is no brochure, we have a portfolio of work of what we have done, but each piece is different”. The penny finally drops that the client can have what they want, in any material, subject of course of the reality of their budget. He loves working with the end client, helping them to achieve the results that they are looking for.

R Bullock Owner Barn 6 Solomons IFA interview - a Bespoke Business

Bespoke Marketing

This struggle resonated with me. How on earth do I tell others about our service? One that is about creating bespoke financial plans, as unique as the imagination of our clients, yet with many similarities and using tools that are far from unique. If you want a pension or an ISA, you can simply buy one from a selective list – much like you can buy a kitchen. For many this will be perfectly acceptable, living with the imperfections and irritations of an off-the-shelf solution. However, for the sort of people that we work with – who want something that reflects them and their own lifestyle with a very personal touch, the key ingredients are time and skill.

Master of the Craft

A new build lecture theatre for Worcester College, Oxford, that Richard was extensively involved in was shortlisted for the Stirling Prize 2018 and he also won a Wood Award 2018. He also created a huge moving table and light tower for a London architecture practice to display models of their buildings at the world-famous Venice Biennale for Architecture

Gone Sailing…

As a business owner that walks his talk, Richard also renovated a Sadler 32 from a near wreck, which he now sails on his own, giving him a much-needed change of scenery. He mainly sails on the east coast and sometimes races in the “Round the Island” race against 1600 other boats with the help of his brother and one of his two sons. When he eventually retires, he would love to do more sailing and have a bigger adventure. Hopefully, that’s something that we will help him achieve sooner rather than later.

If you would like anything bespoke for your office, home or business, perhaps Richard could help you. You can reach him at www.Barn6.co.uk or call 01582 467557.

Here is a short video we made about Barn 6.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

THE BESPOKE SMALL BUSINESS2025-01-28T09:55:26+00:00

The Mercy

The Mercy

I have to admit that I was a little reluctant to see the new film “The Mercy” despite having three great leading actors Colin Firth, Rachel Weisz and David Thewlis). I was concerned that it was going to be the same film as the Robert Redford movie “All Is Lost” which was essentially a story of one man’s conversation with himself. Thankfully it isn’t.

The Mercy is based on a true story – set in 1968/69. It is the tale of Donald Crowhurst (Colin Firth), a business owner and amateur sailor. He is tempted to compete in The Times Round the World Yacht Race, hoping to become the first man or fastest man to single-handedly circumnavigate the globe. He designed his own boat the Teignmouth Electron, a trimaran.

Beware of Confidence

Thankfully we do not witness hours of footage of sailing single-handedly, but get the opportunity to explore some of the characters and their relationships. Crowhurst suffers from over-confidence, masking a deep sense of a lack of confidence. His boat is too costly for him, so he secures funding through sponsorship. However, it is clear that Crowhurst is not a good businessman, rarely able to come close to initial estimates and ends up signing over the deeds to his home and business should his venture fail. You can smell the inevitability of it can’t you.

Crunch Time

His delayed start to the race, quickly produces Crowhurst with a dilemma – to give up, return home but lose his house and business or to carry on, with little chance of success and at best a 50/50 chance of survival. This is the moment that is so often cited in books and films, where adversity births success. We continue to sail with Crowhurst as other competitors drop out, but soon realise that he is not up to the challenge with so little experience, something that many suspected all along.

False Reporting

Crowhurst sees no alternative but to concoct an alternative reality, 50 years ago this was considerably easier to do than it would be now. His ability to plot a false course and report false progress was arguably harder than an accurate one. Back on dry land an enthusiastic public wanting yet another British hero are fed fabrications about his record progress (again). He continues to make choices under immense pressure, failing to reflect on his purpose or at the very least his motivation, but then the image of anyone sailing single-handedly for months on end, might raise questions about motive. I won’t spoil the story for you.

Life Must Be Lived, What Gives it Meaning – Why?

I often use the analogy of a financial planning as a journey, one where we are clear about the destination, but needing to regularly adjust to get back on course and check progress. This is based on your purpose, your values, your “why?” without that, chances of success are very slight and rarely is it possible to emerge from financial storms without the necessary experience. My suggestion is that lessons can be learned from this.

Here is the trailer.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

The Mercy2025-02-03T10:37:21+00:00
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