In this occasional feature we hear from Business Information Point (BIP) presenters who have had practical experience in creating, running or advising small and medium sized businesses.
Alexander Molokwu, co-founder of Martlet Equity, has recently been visiting libraries to present a “Beginner’s Guide to the Stock Market”. During the seminars he gives the audience a practical introduction to the stock market. We got to chat with him after the event at Pimlico Library:
What’s your professional background?
Three years as a stockbroker and six years as an equity trader.
What made you decide to start a business?
I wanted to recruit some more Equity Traders.
What is your business model?
My aim is to teach all types of individuals about the stock market. We provide four types of courses ranging from Beginners, Intermediate, Advanced and Day Trading. After completion of either the advanced course or day trading course individuals will have the opportunity to be placed in one of four trading firms.
Before you started your business did you have a business plan?
I had a business plan but it has evolved into a bigger plan.
Where did you get the capital to start? Was it easy to get funding?
I’m self funded.
How long have you been in business and what are the key challenges you have faced?
The company has been running just over a year. The biggest challenge is time because you don’t have a life when you first start out.
What’s the most important part about running a business?
Organisation and planning is key at the start. I think time keeping is essential.
What’s your approach to cash flow?
Cash flow is non-existent at the start so be prepared financially for little inflow of cash.
What advice would you give someone thinking of starting his or her own business?
Make sure you have the reserves to survive a year because funding may be difficult.
Who is your biggest inspiration?
My wife Aishleen Lester, she is a contemporary artist. She works so hard.
Pimlico library is one of four Westminster libraries with a specialist Business Information Point (BIP). In addition to providing a wide range of hard copy and online business resources, BIPs host regular seminars, presentations and workshops with special guest presenters. For future Pimlico BIP and other events please keep an eye on Pimlico Library events page, or follow @WCCLibraries on Twitter.