Parlour MAVEN: Rachel Springate on Pairing Small Start-ups with Big Connections

Since launching a corporate sales and business affairs career with luxury lifestyle group Quintessentially, Rachel Springate has traveled the globe, building relationships with some of the world's leading CEOs, entrepreneurs and brand directors. Now, as founder of Enright Entertainment, she has combined her global network with an instinctual business  knowledge to build companies for the next generation of entrepreneurs. Parlour sat down with Ms. Springate for her take on everything from the secret to start-up success to the art of nurturing great connections for our latest installment of Parlour MAVEN in partnership with London's I'mPOSSIBLE Conversation. *Parlour: After such success at Quintessentially, why start your own business?Rachel: I’ve always been a bit of a self-starter. At Q, I was fortunate enough to travel and build a great international network. I would continually meet amazing individuals asking for my advice and support. Towards the end of my time there, I realized I’d made a lot of money for other people and that I could probably do this for myself!How would you explain the services that you provide through Enright Entertainment?There are a lot of talented entrepreneurs, however, most don’t have the network, expertise or the sales experience to communicate their idea to the entertainment executives whose partnership could transform their company. Cold calling decision makers at brands or artist and celebrity managers as an unknown entrepreneur is tough, these people are approached everyday with thousands of propositions. Even if the entrepreneur can get to the right person, how they communicate their idea is crucial. Many times a smart ‘geek’ has trouble communicating with the ‘cool’ entertainment industry decision makers and their great idea, as well as the opportunity, is lost in translation.My company understands both, we are also able (thanks to my 10 year network) to walk them into the top and create partnerships that completely transform the success and valuation of the company. For those that understand what a venture capital model is, think of that but instead of putting capital into start-ups, Enright Entertainment puts in a combination of business development, sales skills and a network.What are some of the biggest challenges you've faced in running your business?At the start, it is that fear that you are leaving a big brand with an established reputation and the worry that your network will not support you. The first six months were scary while I found my feet, always wondering where the next paycheck was coming from. But there are ways to be very smart about it like ensuring I had a client and contract that would cover my basic living expenses for the first 12 months, which I could build on. Who inspires you?As one of 10 children, my mum is the most inspirational person I know. She came from a tiny village in the Philippines, four hours north of Manila, where there is not much opportunity due to the lack of education. She decided there had to be more to life than living on a farm. She saved up to get an agency Visa and came to London where she worked as a chamber maid and waitress, where she met my dad while trying to open a bottle of wine. Life changed very quickly and she always taught my brother and I to make the most of every opportunity. My dreams are huge because of that lesson. That’s why I have a love for entrepreneurs, that passion that comes from individuals who are trying to build their own dreams and go for it. Even if they fail, they will answer the question of never wondering 'what if.'You've done business from New York to Hong Kong, what lessons have you learned along the way in communicating and working across global markets?I have a passion for travel and since I was young I dreamed of a career that would allow me to see the world. One of my favorite quotes is from St. Augustine, “The world is a book and those who do not travel read only one page.” I have learned how important it is to understand local customs and cultures in business. Going to Asia was a huge learning experience! Simple gestures such as how to present and receive business cards, the importance of where people are sat at dinner, the relevance and meaning of color, even what it means to do a presentation to Asian clients and have them sit in silence. Also, facing and dealing with challenges of being a single female business woman in the Middle East could not be further from the way we do business in the West. I would advise anyone wishing to business away from the West to take the time to learn and understand these customs, even learning a few words of the local language sends a very positive message and sign of respect to those you are hoping to do business with.Where do you see Enright Entertainment in the next five to ten years?We are in a technology boom right now, with more and more talent choosing to become the next Mark Zuckerburg as opposed to moving into the traditional routes of banking and management consultancy. I’m slowly building divisions in fashion, music and film and I hope to have a couple of great start ups in each category. The wonderful thing about technology is that it moves very fast so if I’m lucky, one or more of my start-ups gets sold to the likes of Google or Facebook and we can build the company very quickly.In addition to Enright, I hope to encourage entrepreneurship with young women and work on my own charity project, which is tied to the idea of creating opportunity where it doesn’t exist.With so many new businesses popping up every day, is there a formula for success?Does your start-up fulfill a need? This is a very important question that so many fail to ask! Are people really going to use your product or service? I would also advise that you enlist the resource and support of people who have had experience building and selling a previous company.What do you look for in a start-up?Passionate driven founders, an idea that fulfills a need, a good team, a board and investors for support and guidance. Between traveling the world and managing five clients in the UK and New York, how do you maintain a work-life balance?I don’t have much of a life outside work at the moment. As most entrepreneurs will tell you, you live, breathe and die your business knowing that its all down to you to make it a success. The lovely thing is my job is so social, and I travel so often that I enjoy what I do.Relationships are a huge part of your work, what are four tips to maintain business connections?People do business with people they know, like and trust. This doesn’t happen overnight, so I’d say:➢       Give more than you receive➢       Be consistent➢       Keep the relationship going long after the deal is done➢       Be real, don’t compromise yourself to get a deal done *On December 12, the sixth I'mPOSSIBLE Conversation will take place at Pearson headquarters in London, UK.   As the exclusive digital media partner, we will be running a series of Parlour MAVEN profiles on each of the speakers in the weeks leading up to the event.  For more information on how you can attend, visit http://www.i-am-possible.com/.