Michael stars
in Channel 4
business makeover
series!
Watch
as Michael and two other teenage tycoons are sent
into failing businesses to turn them around.
Channel
4
broadcast dates:
9:30am
October
02, 03, 04, 05,
06, 09, 10, 11
10:30 am
November
20, 21, 22, 23, 24
Click here for
more details. |
The Michael Lowe Story
by Russ Kane
"You're too young," the counter assistant sneered.
"Try coming back in a suit, with a business plan."
Today, award-winning 19-year-old businessman, Michael
Lowe grins when he remembers the day he got laughed
out of the bank for having the cheek to ask for a
business account at just 16 years old.
He returned suited, booted and packing a plan which
raised eyebrows and a new level of respect from the
bank staff. This time they were only too pleased to
hand over the all-important business account he needed
to get on the way to achieving his dreams.
Hello Talent
Michael's extraordinary story begins on an ordinary
day at his ordinary North London school. He was an
ordinary 15-year-old schoolboy whose teacher asked
if he would be interested in entering the Young Enterprise
Project. Michael agreed because he "frankly, didn't
have much else to do." The project left Michael inspired
with a new belief in himself. He knew he had what
it takes to run his own business and he didn't want
to wait too long to start.
Michael felt drawn to marketing and promotions from
the beginning, "I'm a natural salesperson," he told
us. "I was always plugging things. I enjoy talking
to all sorts of people and I think I'm good at it."
Genning Up
Good research is crucial to the success of all new
businesses and Michael threw himself into it with
his typical enthusiasm. "I questioned every managing
director I could find about their business projects.
I pestered my friends, my family and anyone they knew
who could help me get started. I asked 'what would
you want if you were to outsource your marketing?'
and brainstormed their answers with my business advisors.
My goal was to create a product that companies would
actually want."
Michael spotted a hole that he hoped would allow
him to squeeze into the crowded public relations (PR)
market — and his company, Vizarie, was born.
"Many of the companies I spoke to already had PR agencies,
but they were often unhappy with them, especially
when it came to hidden costs and sky-high fees. I
developed an all-inclusive monthly fee system which
offered a guaranteed minimum number of hour's work
per month from us."
As explained on his website www.vizarie.com, clients
can sign contracts for various levels of service.
"This gives us financial protection and them freedom
from mounting costs of day-rate charges," explains
Michael. "It also benefits companies who find it too
expensive to have employees. They can outsource to
us at a guaranteed low rate."
Look at Me!
Michael's next priority was to get Vizarie noticed.
"We needed to stand out as, obviously, the other marketing
and promotion companies in my field had far more experience
than I did. So I used crazy branding and crazy ideas.
I had 12 animated characters as my logo to make us
look different."
Michael is a confident guy, but there were some worrying
times in the beginning. "The first year was very tough,"
he admits. "In fact, we made a loss. I was scared.
I was promoting the company like mad, but it was a
chicken-and-egg situation — to get work we had
to prove that we were capable of doing the job, and
to do that we had to get work. So I looked for anyone
who needed marketing and promotion — from beauty
salons to football clubs, from property companies
to restaurants."
Big Boys Look Out
Eventually the hard work of Michael and his team paid
off. The jobs came in and, two and a half years later,
Vizarie is going from strength to strength.
"Right now I'm eyeing up the competition," says Michael.
"Frankly, I want their contracts. I'm looking at bigger
companies to approach because they have larger marketing
needs. I feel I'm able to do this because Vizarie
is not yet at capacity and we'll grow as our new clients
flow in. I've drawn up a three-year plan which centres
on building up our client base and not making the
mistake of diversifying too much."
Biz Whiz
Michael's shelves must be groaning under the weight
of all the awards he's won. They include the National
Business Award 2003, Phoenix Development Fund Award
2004 (Young Entrepreneur of the Year), Young Enterprise
Award 2004, Education Business Partnership Award 2004
and the Enfield Enterprise Agency Award 2005.
What advice does Michael have for other teenage entrepreneurs?
"When I was struggling, my friends kept encouraging
me to carry on. My best advice is: Don't give up —
it may be tough the first few months, but if you keep
focused you'll make it!"
Click
here to read the transcript of Michael's extensive
interview with BBC.
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