Financial management consultant turned entrepreneur Martin Mellor tells us how Yorkshire’s supportive business community inspired him to start his own business…
What does Mellor Financial Management do?
Mellor Financial Management (MFM) share the responsibility and the strain of financial management with business owners and managers - making the most of skills and knowledge gained from 20 years as Senior Finance Management specialists.
Together with the latest in accounting technology and systems, MFM provide financial management and information that will transform your business. In addition, delivering training that will maximise the understanding and influence of business owners and their team.
Business is all about decisions. Making the right ones is the difference between success and failure, yet many business owners shoulder the responsibility of making decisions on their own.
MFM’s style is to cut out jargon and to ensure they deliver in a relaxed, yet informative way providing external validation to fit with business owners and their requirements.
What inspired you to start the business?
My desire to not just be another cog on the corporate wheel forever by supporting other new businesses and help within an area which is challenge for lots of other business owners inspired me to set up my own business.
Where do you get advice/support/help?
I was part of the Entrepreneurial Spark business accelerator programme in Leeds when it first opened in 2015 and I have invested in a business mentor. I am also active in the Yorkshire business scene; I do lots of networking and surround myself with positive and inspirational people in business.
What has been your biggest challenge so far?
It can be lonely running a business, you question whether you are making the right decisions and planning your time effectively which is an ongoing challenge but it is incredibly rewarding so makes it all worthwhile!
What is your next big target?
I plan to expand the training side of the business and run regular events on ‘what a business owner/manager needs to know about finance’.
What is the best and worst thing about being a start-up?
The best thing is the ability to influence your own destiny and have control about what and how you work. The worst thing is shouldering all that responsibility.
What makes this idea different?
Finance management is “so what”. I am not aware of anyone else who is combining day to day financial management support with training. We look at what you do with the numbers rather than just producing them for compliance purposes. When allied with the training offering this provides multiple opportunities for people to increase their financial understanding and help their businesses to succeed.
Who would be your dream customer?
Businesses with an ambitious owner that are looking to grow and have the potential to grow significantly over the next few years.