Rachel Elnaugh is the award winning entrepreneur whose first business was the market leading ‘experiences' brand Red Letter Days, which she created at the age of 24 and grew from nothing, on a shoestring budget, into a £multi-million turnover household name, which at its height was making £1million profit a year.
This won her an Ernst & Young Entrepreneur of the Year Award in 2002 and she was shortlisted for the 2001 Veuve Clicquot Businesswoman of the Year Award along with Barbara Cassani, Jo Malone, Sly Bailey and Chey Garland.
As a result of being on the Awards circuit, in 2002 she was invited by the BBC to be part of a new business show they were formulating called ‘Dragons' Den‘.
The pilot for Dragons' Den was filmed in 2003 and the first series was commissioned and filmed in Autumn 2004, airing for the first time in January 2005. Dragons' Den has been a huge success, shortlisted for a BAFTA and very quickly syndicated worldwide. The second series aired in 2005.
However, behind the scenes, Rachel Elnaugh had been struggling to bring Red Letter Days back on track after a disastrous over-expansion in 2002, and despite the business being back in profit and having £3.3million cash at bank it was forced into administration by Barclays Bank on 1 August 2005. Due to her high profile appearance on Dragons' Den, the crash of Red Letter Days attracted huge media exposure, the story appearing on all the key news channels and in every mainstream newspaper.
However, to paraphrase Napoleon Hill, in every adversity lies the seeds of opportunity and Rachel was invited to speak at many enterprise events about her experiences. She was also commissioned to write a book about the fine line between success and failure in her book ‘Business Nightmares‘ – not just her own story but the story of 20 other successful entrepreneurs who hit problems on their own journey. The timing of the book launch in May 2008 could not have been more fortuitous as in September 2008 the global banking system crashed triggering the current recession and many other business meltdowns. 'Business Nightmares‘ has since become THE handbook for business survival for many struggling entrepreneurs.
Rachel Elnaugh was quickly invited by many entrepreneurs to help them with their own business and she became a mentor to many, creating along the way a series of low cost training programmes and workshops designed to help entrepreneurs struggling to make their business work. Rachel combined her business and marketing knowledge, her experience of going through a financial wipeout together with her knowledge of metaphysics into her acclaimed 2012 low cost video mentoring programme Business Alchemy, which has already become her most successful mentoring product ever.
Rachel's latest and biggest business venture yet is SourceTV the new business operating platform for thought leaders, holistic professionals, alternative therapists and coaches which she co-created with Hollywood based TV/Video and Digital Marketing Expert Kevin Stein.