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Case Study: Alan Noble
From humble
beginnings, Alan
Noble's van hire
business has
become a great
North-East success
story. He spoke to
Business Editor
Owen McAteer
and offered advice
to would-be
entrepreneurs
ENTREPRENEUR
Alan Noble has
transformed his one
man van hire
business into a
market leader in this country -
and abroad.
Over 27 years, Mr Noble has
built Darlington's Northgate
from scratch to a company
employing 3,000 people, with a
turnover of more than £500m.
He started the business in
1981, aged 29, from his home, in
Hurworth, near Darlington.
Today, Northgate plc
operates from purpose-built
premises, in Allington Way, and
is the leading light commercial
vehicle rental business in the
UK and Spain.
The company is listed on the
London Stock Exchange and is
part of the FTSE mid-250 index.
Mr Noble said it was good to
give something back to
younger business people and
sees himself as a mentor.
He offered advice to people
who want to work for
themselves.
He said: "There are two types
of entrepreneur - there are
those like myself who saw a
niche in the market that could
be explored and I believed I
could do it as well or better
than my predecessor.
"Then you have the serial
entrepreneur, like Sir Stelios
Haji-Ioannou, Sir Tom Hunter
or Duncan Bannatyne.
"I am different. I am simply
satisfied with vehicle rental
and after a time you have to
decide whether you are an
entrepreneur or a corporate
person, being director of a
FTSE 250 company.
Although enthusiasm was
important, the foundations for
success can be found in
planning properly, Mr Noble
believed.
He said: "To be an
entrepreneur, you need a
proper specific business plan
and help with that plan from a
good finance man.
"Without a plan, you can't
get the finance off the bank.
"That is so important. That
is why so many people fall flat
in one or two years, because
they didn't have the plan right.
"The biggest problem they
face is not profit, it is cash flow.
"You can be temporarily
loss- making but keep going as
long as you have the cash flow."
Although many
entrepreneurs dream of being a
wealthy jet-setter, Mr Noble
said budding businessmen
needed to take a more sensible
approach.
He said: "People should see
their new start-up as an
apprenticeship. When you start
up, be prepared to be on a
barely sustainable income.
"It will be low and cover your
basic needs - you might need to
get the bus for 12 to 18 months
before you can get a car.
"I left a job with a car and a
high salary and went to £35 a
week and a Ford Escort van,
but I could see it for the longterm
benefits.
"A lot of people buy nice cars
and suits straight away, but
success doesn't come
overnight, I have been in
business for 40 years and you
never stop learning."
Mr Noble believed the feeling
of achievement of
businessmen is unparalleled -
despite initial hardships.
He said: "The first two or
three years in business were
much more exciting and
rewarding professionally than
at any other time. It wasn't
about money."
In recent years, Mr Noble has
suffered health problems,
including prostate cancer and
gave a word of caution.
He said: "The most
important thing in business is
to look after your health.
"You can work excessive
hours and neglect your health
and not do the fitness training
and medicals and then find as
you get older that your health
becomes a major problem.
Money means nothing without
your health."
One of the skills Mr Noble
believed entrepreneurs must
have is knowing when to get
out.
He said "Give a business a go
if your conviction is strong, but
if it doesn't work out, don't
keep throwing good money
after bad.
"It is about knowing when to
get out.
"If it doesn't work out, you
should never feel embarrassed.
"You should feel you have
achieved something special by
giving it a go.
"I have said that if
everything went wrong
tomorrow, I would become a
window cleaner. If you can do
500 houses a week at £10 a
house that is a decent living
and your overheads are small.
"People should take pride in
having the guts to do it.
"There are a lot of very, very
qualified people who just
wouldn't have the guts to do
it."
12:25pm Thursday 20th March 2008
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