Meet Myrah Caesar

July 31, 2011 in Professional Services

Co-founder
AddVantage Save

The AddVantage Business Network is a group purchasing organisation that works with small businesses to leverage discounts, helping them to save time and money.

AddVantage Save offers members longer term discounts for business products and services accessible as and when they need it.

Co-founded by Myrah Caesar and Naa Boakye in May 2011, the company employs a team of four in Cardiff and London.

Why did you decide to start your company?
My inspiration came from frustration during the early days in business development for a new start-up. I spent countless hours scouring the market for reliable suppliers and negotiating discounts, which took away from my role of sourcing new business for the company.

For Naa, her inspiration came from her experience managing expenses for a multi-national company and realising that running a profitable business depends not only on growing revenue but also, importantly, on reducing costs.

By creating AddVantage, we fused our experiences and solved the critical issues we had identified in our previous roles – how to source good suppliers and good discounts for small businesses in a way that saves them time and money.

What was your career path prior to starting your first business?
I had decided on law and completed my Bachelor’s degree in Pre-law studies and Business. I went on to complete my Graduate Diploma in Law. However I chose to go into business instead of undertaking the Legal Practice Course.

It was tough to decide but I knew I enjoyed business more and it allows me to develop a myriad of skills and learn something new every single day.

Did you always know that you would start your own business?
Yes. I come from a very entrepreneurial family so taking calculated risks and starting my own company has always had a special appeal.

How did you decide upon the type of services that can be purchased via your group purchasing model?
Our target market are small businesses with less than 10 employees because from extensive research, we identified that businesses within this demographic have limited access to quality discounts because they lack economies of scale.

What steps did you take to launch your business?
From the onset we have tried to ensure our service remains relevant to our target market. Our most important tool so far has been networking and connecting with other businesses.

We found events such as the Business Start Up Show offer an excellent platform for learning and developing our business idea.

What are you working on at the moment?
The response we have received so far from potential members and partners has been tremendous. We are currently recruiting to meet the demand.

Can you describe your typical working day?
As entrepreneurs we are involved in all aspects of running our company. A typical day for us could range from simply following up on a few emails, business development or implementing our social media strategy.

What have been the highlights of running your own business?
The realisation at 12am in the morning, after a full day’s work that despite being exhausted, you are happy. It emphasises the maxim “do what you love and happiness will follow.”

What is the hardest part of running your own business?
AddVantagesave.com exists to solve a critical issue for small businesses by providing them with quality suppliers. Our biggest challenge when we first started was partnering up with the right suppliers.

You are supported by the Welsh Assembly which is fantastic. What advice would you give to other business owners who are seeking funding for their ideas?
The truth is I did not go in specifically looking for funding. For me it was more crucial getting professional business advice and free training to improve the skills needed to effectively execute our business idea.

It’s always a challenge knowing where to look and ticking all the right boxes to qualify for any grants out there. I would say patience is key for any start-up business seeking finance. In the mean time you need to bootstrap!

What has been your proudest business moment so far?
Speaking to small businesses that tell us how relevant our service is or how much they have benefited from what we are doing at AddVantage.

What, or who, inspires and motivates you?
I am motivated by my family, who have been most supportive and always eager to give their input. Not forgetting my business partner Naa who ensures I do not have too much down time!

Above all, I am motivated by my passion to succeed and give back to my community and to help others who have not been fortunate enough to have the opportunities that I’ve had.

Fast forward five years, where do you think your business will be in 2016?
We envision AddVantage will be a worldwide brand that has saved small businesses millions of pounds and truly impacted the way that small businesses purchase.

Myrah, is there any other information you’d like to share?
I would like encourage anyone out there considering starting their own business to take the plunge. There are no boundaries aside those set in our own minds.

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For more information visit www.addvantagesave.com. You can also find AddVantage Save on Twitter and Facebook.

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Myrah Caesar was interviewed by Octavia Goredema, founder of the Twenty Ten Club.

The Twenty Ten Club is an award-winning networking organisation designed to connect, inspire and support Black female entrepreneurs. You can also find Twenty Ten Club on Twitter, Facebook and LinkedIn.