Malt firm boss shares experiences in How to Fly High book
The boss of malt firm Muntons is among a group of high-flying entrepreneurs to share the secrets of their success in a new book.
Essex writer Angela Dellar’s How to Fly High features insights from business owners and leaders, including Alan Ridealgh, managing director of Stowmarket-based Muntons,
The qualified business growth and leadership coach, of Apricot Business Growth, spoke to a series of entrepreneurs about their experiences.
“We decided to concentrate on core activities back in 2000 at a time when we were under pressure from the commodity markets,” Mr Ridealgh explains in the book.
“The grain markets were also extremely volatile during the same period and that had a huge effect on our business in terms of cash, particularly when you’re spending twice as much on raw materials in one year as you did in the previous year. It’s tough. There were certain customers out there in our brewing areas that didn’t value us and they were possibly, in total, half of our malting trade.”
He explains how the business decided that it wasn’t going to sell to them any more and would find another way of locating customers who valued the firm.
“As a result, our profitability dipped one year because that was the year of transition, but we were always confident that we’d come through it quite strongly and we came through it the following year as we successfully made that transition with a near record profit, followed by a record profit.”
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The book is available as a free e-book from www.apricotbusinessgrowth.co.uk or to purchase as a print copy from Lulu.com, with all profits from sales going to three cancer charities.
“In order for the business to continue to grow successfully, as well as having sound business knowledge, those in charge need to move from doers to managers to leaders able to manage through others,” said Ms Dellar.
“I therefore wanted to interview successful high growth entrepreneurs and leaders and ask them how they got out of their own way. I felt that sharing their learning widely would really benefit others in similar situations.”