Penny Bailey, Bailey Solutions
Penny Bailey set up her company Bailey Solutions four years ago. It specialises in supplying library software and information systems for professional firms, government departments, charities and colleges.
"I'm proud to be a managing director in computing, which is still seen as a male dominated industry.”
The inspiration
Penny was working in the legal library sector as a librarian and consultant, the existing library software products on offer constantly frustrated her. Most were too complicated to use efficiently and too costly. So she decided to write her own.
“I suddenly thought why not sell my own software? Also on a personal level, the timing was right to take on the challenge. I was tired of commuting into London and had been struggling to find a child friendly employer locally who would take me on with my then limited library IT experience.”
Getting started
As soon as Penny had made the decision to set up a business, she approached Business Link Sussex for free professional advice and information. Penny advises: "It's important to get as much help as you can." She also joined Women in Business, a networking organisation, which gave her the opportunity to meet and learn from other women like her. Penny says this was a useful and essential experience and she continues to be a member.
What were her biggest challenges?
"Learning how to make tough business decisions like dismissing people when they're not pulling their weight, even if they're likeable people." A leadership course helped Penny improve her recruitment skills and she also uses outside consultants to get the right people. “Being responsible for someone else’s salary is difficult. When someone else trusts you to be successful, it is both invigorating and scary.”
Negotiating was also a tough skill to master, yet necessary to avoid being taken advantage of as a small company. “I've learnt that you really need courage and determination in negotiations."
Penny's top tips
- Have self-belief
Don’t undersell yourself, your products or your services - a trait more common in women. Never feel that because you are a woman you are less capable - Know your stuff
Make sure you are always thoroughly prepared. If you are confident, competent and good, that will be recognised - Get expert help
Accept you don't have to have all the answers yourself; you can seek the expertise you need elsewhere. Get as much help as you can from government agencies but also through networking and talking to other business people. I use consultants for sales, marketing and HR - Learn to say ‘no’ and to delegate
I work 8-5 in the office and a couple of hours in the evening and at the weekend, but I make sure I have Friday nights off and take time out for myself to do yoga”
Penny's achievements were recognised with a recent Best Technology award from the British and Irish Association of Law Librarians.
