All that glitters...
By Tim Rumney, 15 February 2010 –
It has been a busy time over the last few weeks with the completion of our bedroom upgrade and the preparation for our full refurbishment of Alexander’s Pub which starts today.
In the meantime I was at The Best Western National Conference at Celtic Manor Resort in Wales where we had a fantastic mix of business, social and great guest speakers.
Key note speaker on the last day was Gerald Ratner who is now best remembered not for his jewellery business but for that infamous speech.
He told the audience that he decided that he had to do something about his predicament one day when there was a knock on his bedroom door. It was his wife, it was four o’clock in the afternoon and he was in his bed watching Countdown. Her ultimatum to him was that unless he got out of the house and got back to work she would be leaving. He observed wryly that his first wife had left him because she never saw him and now the present Mrs R was threatening to go for opposite reason.
The problems had started when he bought a jewellery business in Holland. High street jewellers make up for eleven months of loss with the profit in December, but nobody had told him that the Dutch don’t give Christmas presents. Undaunted he decided to raise £200M for his next venture…and then the speech.
He lost a billion pounds overnight and as he said ‘that was a lot of money in those days’.
But this was not a speech about how he had been wronged and treated unfairly it was about how to bounce back from failure.
There is always another way and if you persevere other opportunities will come along. Now back to that Pub refurb…