Giving Back as a Mentor (Mike Racz)
Three of our recent mentees, Oliver Wentworth, Bradley Johnson, and Paul Jenkins share the valuable insights they've gained from their mentor Mike Racz, founder of Racz Group.
In the fast-paced world of entrepreneurship, navigating the challenges of business growth can be daunting. Recognising the need for guidance and support, the Entrepreneurs’ Forum offers a unique opportunity for members through the mentoring drop-in sessions. These confidential one-to-one sessions provide dedicated time to seek advice and discuss the ins-and-outs of business with other experienced entrepreneurs.
Mike Racz’s business, Racz Group was founded in 2006 and now operates across 11 different business sectors with over 100 premises throughout England and Northern Ireland. Headquartered in the North East, the group’s primarily franchised businesses which include Domino’s, Costa Coffee and Anytime Fitness, collectively employ more than 2,000 people.
“When I was first asked about mentoring, I was unsure about what I had to offer people to be completely honest with you,” Mike begins to explain.
“In the early stages of business I made so many mistakes, wasted so much money, so if I can help people to avoid making the same mistakes that I did, then why not?” he adds.
For Oliver Wentworth, the founder of Wentworth Security & Fire Protection, his mentoring session with Mike provided invaluable insights into obtaining funding for growth. With a vision to expand his business, Oliver was eager to seek out guidance from someone who had successfully scaled theirs.
“I began as a sole trader in 2017. In 2021, I identified a market gap and formed a limited company. Since then, we've achieved top industry accreditations, won six awards, and are experiencing growth amid a decarbonisation initiative. It's an exciting phase but it does come with its fair share of challenges,” Oliver explains.
“We’re in a position where we're looking to obtain funding for growth. I had a valuable discussion with Mike which prompted me to consider our next steps in making the business funding-ready. His insights helped me identify key areas to address before approaching lenders. I'm thankful for his guidance which has equipped us to appear more investable,” he adds.
Following the session, Oliver took his own ideas, merged them with Mike’s advice, and successfully submitted applications to lenders to obtain the funding they need. Due to a successful application, North Yorkshire Council have come forward with a grant for Wentworth Security & Fire Protection, which for Oliver is everything he hoped to achieve following his mentoring session with Mike.
“It’s great to know that you’ve helped someone. I think sometimes we don’t ask people for help because we presume they’re too busy. Everyone is busy but we can make time for a conversation and if people can learn something from me, then I’m happy to help,” Mike added.
With over 13 years of experience in the marketing industry and a recent merger completed, Bradley Johnson, Managing Director of Yellow Box Marketing, sought guidance on how to navigate expansion and create team alignment within his growing agency.
"When I spoke to Mike, I wanted to understand how he’s managed to grow so quickly. We’ve recently undergone a merger with a smaller agency who will be able to add to our full-service offering,” Bradley reflects, adding, “As the sole director of Yellow Box Marketing, I lacked a day-to-day sound board to discuss ideas with and the main thing I wanted to get from the session with Mike was about how to get your team on board with the vision, values and mission I have for the business.”
The merger has grown the team to 13 and introducing a Commercial Director into the fold, has reshaped Bradley's approach.
"The addition of our new Commercial Director shifted dynamics but Mike's wisdom remained invaluable," Bradley explains.
"Mike took the time to understand more about Yellow Box, and what we’re trying to achieve but also asked me questions about my own goals and experiences. He also detailed how he and the Racz Group crafted their vision, mission, and values, fostering team cohesion and talent attraction.
“I’d like to thank Mike for giving up his time and say that being able to have that opportunity to pick the brains of someone who's in a position where you'd love to get to was invaluable and motivating,” Bradley adds.
Following the session with Mike, Bradley has implemented a strategy and within three months, has brought the new agency on board. Together with his team, they've rebranded, refined services, streamlined processes and united core values with a clear vision.
“I love the saying ‘shy bairns get nowt’. If you’ve got the opportunity to get out there and speak to someone who’s achieved success, then do it. It’s all about taking advantage of the opportunities in front of you,” says Bradley.
When asked why he was willing to help other entrepreneurs, Mike’s answer is simple: “Because if you can, you should.
“Having accumulated a wealth of knowledge over the years, I came to recognise the value of my experiences to others, so I signed up to be a mentor for the Forum. I don’t know if people take my advice on board, but I’ll provide support and guidance wherever I can,” he adds.
For Paul Jenkins, the founder of North IT - a company specialising in cyber security - Mike’s guidance has been invaluable, empowering Paul to confidently pursue new ideas.
Established in 2012, Paul’s team of certified pen-testers and security auditors help businesses improve their cyber security posture through ethical hacking and testing of their infrastructure, networks, websites and mobile applications.
“We’re a fairly niche business and I've been managing the business as a sole director on my own for most of my time in business. It was great to meet with Mike and get his opinions on things,” Paul begins to explain, “With being a niche business, I’ve always done things a certain way and never had anyone to bounce ideas off. It was great to hear an outsider's perspective and hear some fresh ideas. I had very particular views and Mike has helped me to be more open-minded.”
Following the session with Mike, North IT have implemented a new website, refocusing their approach to a wider audience, using accessible and straightforward language. The aim? To branch out and reach the people who perhaps don’t realise they need the service that North IT offers.
“I couldn’t recommend the drop-in sessions more. If you’re looking to grow or improve, then go for it. You don't have to take their advice on board if it doesn't fit with your values, but it can't hurt to hear someone's opinions,” says Paul.
Providing invaluable wisdom, expert advice, and acting as a sounding board to bounce ideas off, Mike has successfully helped three entrepreneurs take the next step in their business journey.
“If other entrepreneurs are in a situation where they feel like they can use their expertise to help others then just do it. Like myself, we’ve all made mistakes, I wasn’t great at first. I didn’t have the knowledge. Now, if I see others struggling or seeking guidance, I’m happy to step in. I don’t like to see people go about things the hard way when there could be an easier solution.”
