With this year’s International Women’s Day fast approaching, we've been conducting a series of interviews with global inspirational women, from the worlds of sport, business and adventure. We feel that your readers would be interested in hearing their expertise, tips and advise.
Today, we sit down with Justine Roberts CBE: Founder of Mumsnet.com and listed as the top 500 influential CEO’s in the world and BBC Radio 4’s Woman’s Hours as the 7th most powerful women in the UK. Awarded a CBE for her services to female entrepreneurialism in Technology, Justine is a leading business expert and entrepreneur speaker.
In this exclusive interview, she revealed how entrepreneurs can succeed in a competitive market, as well as why she believes she was listed as one of the most influential CEOs in the world.
How can entrepreneurs identify a gap in the market?
“I think very often with entrepreneurs, what they do is fulfil their own need, really. Certainly, true of my case with Mumsnet.
“I was a new parent of young twins, and I needed all the advice and help I could get. My immediate circle didn't quite have all the answers for me, so I wanted to expand that and tap into the wisdom of millions of other people via this wonderful thing called the internet.
“I think that's often where people get their inspiration from, they find a gap in the market because they need that product or service really badly for their own life. The great thing is, if you're constructing something to meet your own needs, you're very clear on what you what you actually want, and how it should work.
“It gets harder as you grow; you get more and more divorced from the original target market. So, my case now, I'm slightly outside the target market for Mumsnet, so I have to work really hard to stay in touch.
“But originally, for the ideas, I think it's about finding something that would make the world a better place because you know what that product or service should be from your own experience”
What can entrepreneurs do to stand out from the crowd, particularly in a saturated market?
“I think the key to standing out is fulfilling whatever the consumer really wants or needs.
“So, I don't think you're going to stand out if you just produce a generic product the same as everyone else does and make a big noise about it. What you really want is people to be talking about the product because it's doing something better [than its competitors].
“Either it's your service that's better, it's the product itself, or it's a different price point. So, to be honest, I think you have to be different, you have to have a USP (unique selling point). You can't really expect- unless I guess you're Amazon and you have millions and millions of pounds of data and customers already, and a lot of trust.
“If you're new to a field, I think you have to do something different, you have to make the customers lives easier in some way.”
You've been listed as one of the most ever influential CEOs in the world, what personal qualities do you credit to such success?
“Luck, mainly.
“Well, number one, I don't necessarily accept the premise of your question because I don't feel particularly influential when I can't persuade my kids to get up in the morning and tidy their rooms!
“I do think what Mumsnet has done above all else is really put purpose before profit and take a long-term view. That's partly because of our funding, but we've never been known as people who need short term results.
“So, I think the ability to take a long-term view and put purpose first, that means in some ways, you can perhaps have more credibility and trust amongst your audience.
“If I've got credibility or trust, it's because of that. It's because of the patience and long-term view. It's not all about chasing short term profits.”
If you could give your younger self one piece of advice, what would it be?
“Well, the sensible piece of advice I'd give is don't listen to the naysayers and have a bit more self-confidence. Don't second-guess yourself too much, basically.
“My other piece of advice, which I think is almost as equally important, is to always wear trainers. It means if you're late for meetings, you can run, get there on time, save a fortune on gym membership, and you won't ruin your feet!”
