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HIDDEN STRENGTHS OF DYSLEXIC THINKING/ Made By Dyslexia CEO Kate Griggs P.64 SCALING BORDERS/ Key strategies for entrepreneurs to thrive P.8 SECRETS TO BUSINESS GROWTH/ Insights from industry leaders P.28 December 2024 / Entrepreneur.com UNITED KINGDOM HIGH-STAKES STRATEGY LEADING EXPERTS REVEAL HOW UNDERSTANDING RISK PAYS OFF P.12
BOLD FOR THE BOLD UNITED KINGDOM
Contents/December 2024 P.12 High Stakes Strategy Industry leaders explore how strategic risk-taking can drive innovation and resilience in uncertain times FEATURES → ROB MOORE champions the idea that embracing risk can lead to personal and financial growth. 3 December 2024 / ENTREPRENEUR.COM /
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5 December 2024 / ENTREPRENEUR.COM / 39 Empowering Employees Encouraging side hustles boosts autonomy, creativity, motivation and collaboration. 42 Embracing Failure JOSH WHITE reveals why embracing failure can lead to unexpected breakthroughs. 44 Driving Innovation AUAR, a London-based construction tech startup, revolutionises sustainable housing with innovative robotic solutions. ‘TREPONOMICS IN THE LOOP Contents/December 2024 8 Scaling Borders Professor VERONIEK COLLEWAERT warns UK founders: scale smartly, or risk costly setbacks 18 Breaking the Silence KATY WIGDAHL, CEO of Speechmatics, is transforming voice technology for greater inclusivity 22 Challenging the Norm DAVID BEECH’S bold restructure of Knights drives legal industry innovation. BUSINESS UNUSUAL STARTUP SPOTLIGHT FEATURES EDITOR Patricia Cullen patricia.cullen@bncb2b.com CEO Wissam Younane wissam@bncpublishing.net MANAGING DIRECTOR Rabih Najm rabih@bncpublishing.net ART DIRECTOR Simona El Khoury EDITORIAL TEAM Tamara Pupic, Aalia Mehreen Ahmed MEDIA SALES MANAGER Olha Kovalova olha.kovalova@bncb2b.com REGIONAL DIRECTOR Andy B. andy@bncb2b.com CONTRIBUTING WRITERS Kate Griggs, Fiona Ross, Greg Gormely, Felizitas Lichtenberg, Bryn Thompson, Sam Kelly SUBSCRIBE Contact subscriptions@bncb2b.com to receive Entrepreneur United Kingdom every issue. COMMERCIAL ENQUIRIES sales@bncb2b.com WWW.ENTREPRENEUR.COM/EN-GB Access fresh content daily on our website All Rights Reserved 2024. Opinions expressed are solely those of the contributors. Entrepreneur United Kingdom is officially licensed exclusively to BNC B2B In United Kingdom by Entrepreneur Media Inc. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission of the publisher. Images used in Entrepreneur United Kingdom are credited when necessary. Attributed use of copyrighted images with permission. All images not credited otherwise Shutterstock. 20 Wenlock Road, London, N1 7GU entrepreneurMediaUK entrepreneurUK entrepreneurmedia-uk entrepreneurmedia.uk UNITED KINGDOM 28 The Secret Sauce Industry leaders share essential strategies for successful growth, emphasising community engagement, talent development and adaptability 64 The Hidden Strengths of Dyslexic Thinking in Business KATE GRIGGS of Made By Dyslexia discusses how leaders can harness Dyslexic Thinking skills to drive success. → GILLES RETSIN, and MOLLIE CLAYPOOL co-founders of AUAR, are pioneering sustainable architecture
6 / ENTREPRENEUR.COM / December 2024 Editor’s Note/ INSIGHTS AND STRATEGIES FOR BOLD, RESILIENT BUSINESS LEADERSHIP Entrepreneur United Kingdom W elcome to this month’s issue of Entrepreneur UK, where we dive headfirst into one of the most defining aspects of business success: mastering risk. The cover story for this December issue explores why embracing risk isn’t just a daring move but an essential skill in today’s entrepreneurial landscape. We have exclusive insights from Dr. David Hillson, renowned globally as the ‘Risk Doctor,’ and Rob Moore, famously known as the ‘Disruptive Entrepreneur,’ both of whom shed light on navigating uncertainty with purpose. Mariam Crichton, a non-executive director at the Institute of Risk Management, also joins the conversation, providing a balanced view on assessing and handling business risk with both caution and confidence. In another informative piece, we highlight the wisdom of Veroniek Collewaert, founder of The Scale-Up Institute, who offers British entrepreneurs essential strategies for expanding across Europe. Her expert guidance comes at a crucial time as UK businesses increasingly seek opportunities beyond national borders. This month, we’re also proud to feature perspectives on neurodiverse talent and the unique qualities it brings to the table. Kate Griggs, a vocal advocate for dyslexic thinking, unveils the often-hidden strengths that dyslexic individuals can offer in a business setting, while Felizitas Lichtenberg provides invaluable insights into creating inclusive recruitment practices that support neurodiverse candidates. But that’s not all! We’ve gathered advice from some of the top minds in industry leadership on fostering a growth mindset. Damian Skendrovic, CEO of VeUP, shares insights on scaling startups, and Toby Harper, founder and CEO of Birmingham-based Harper James, offers his expertise on developing resilient businesses. This month, we also hear from dynamic founders of high-growth companies like Allica Bank and THIS, who reveal their top strategies for driving momentum and achieving sustainable growth. We also tackle some of the most pressing challenges facing businesses today. With rising concerns about employee burnout, we’ve gathered essential advice on keeping your teams energised and retaining top talent in an increasingly competitive market. We explore how encouraging employee side hustles can add fresh creativity and depth to your business, and we debunk the myth that failure marks the end of the journey—demonstrating instead how it can be a stepping stone to growth. At Entrepreneur UK we’re dedicated to delivering practical insights, compelling stories, and forward- thinking strategies designed to inspire fresh ideas and empower readers with the tools needed to turn ambition into achievement. The December issue celebrates risk- takers, innovators, and leaders who are defining the future. We hope that their journeys and insights inspire you to take bold steps toward your own entrepreneurial dreams. As the holiday season approaches, I want to wish you a Merry Christmas and a New Year filled with exciting opportunities, growth, and success. Happy reading! Patricia Cullen Features Editor, Entrepreneur United Kingdom
Scaling Borders Veroniek Collewaert, founder of The Scale-Up Institute, shares her tips for British entrepreneurs. by PATRICIA CULLEN → VERONIEK COLLEWAERT, an academic and professor of entrepreneurship at Vlerick Business School, inspires future innovators As the effects of Brexit continue to ripple through the business landscape, UK entrepreneurs are increasingly turning their gaze towards Europe in search of growth opportunities. Yet, the journey across the Channel comes with its own set of challenges. 8 / ENTREPRENEUR.COM / December 2024
9 December 2024 / ENTREPRENEUR.COM / I n a revealing discussion with Entrepreneur UK, Veroniek Collewaert, a professor at Vlerick Business School and founder of The Scale-Up Institute, warns that the temptation to scale prematurely can be a costly mistake. “One of the worst things you can do is start scaling when you actually haven't yet figured out the core of your business model….if you're still struggling with some of those life existential questions, you run the risk that you're going to copy paste the errors rather than the successes.” she cautions. This sentiment underscores a crucial lesson for founders: understanding all your business's foundations is essential before venturing into new markets. One of the most critical mistakes founders make is attempting to scale before solidifying their primary business framework. “You need to nail the core of your business model before scaling,” Collewaert warns. It also emphasises the need for a clear understanding of customer needs and unit economics. UNDERSTANDING THE CHALLENGES Collewaert highlights that while challenges such as talent acquisition and funding are shared across Europe, UK based entrepreneurs face specific difficulties related to market access. “In the UK, market access has been the top challenge for the last three years,” she notes, stressing the need for entrepreneurs to adapt to a more fragmented European landscape. This fragmentation means that UK founders must approach the European market with a fresh mindset. Collewaert’s insights offer UK entrepreneurs a roadmap for navigating the complexities of scaling across Europe, emphasising the importance of a tailored approach to market entry. By adopting a mindset of experimentation and localised research, founders can better understand customer needs and cultural nuances, enhancing their chances of success in diverse markets. “Even though you're scaling, when you want to enter a new market, EXPERIMENTATION AND RESEARCH ARE KEY. YOU HAVE TO ASK: ARE THOSE CUSTOMERS THE SAME AS WE HAVE BACK HOME?” “ }}
10 / ENTREPRENEUR.COM / December 2024 B/Growth you need to put your startup hats on again,” she advises. “Experimentation and research are key. You have to ask: Are those customers the same as we have back home? Do we need to adapt our messaging?” Collewaert emphasises the role of government agencies in facilitating international partnerships. “Departments like the one for international trade in the UK have a huge responsibility,” she says. “They need to ensure that UK firms can swiftly establish partnerships with companies in mainland Europe.” UK entrepreneurs should tap into these resources to navigate the complexities of scaling abroad. FUNDING BEYOND VENTURE CAPITAL When it comes to funding, Collewaert points out a common misconception among entrepreneurs: “It's not all about venture capital and private equity. There are plenty of other funding options out there, like debt.” By broadening their understanding of funding sources, UK founders can better position themselves for growth. Talent acquisition is another area of concern. “We really struggle to place students in the UK because of visa issues,” Collewaert explains, noting that awareness of initiatives like the Scale-Up Visa launched last year is crucial. “There needs to be way more activity in terms of ensuring that both talent and scale-ups know about this visa. If not, it's not going to be used.” Collewaert points to UK companies like Revolut as exemplary models of successful scaling. “Revolut had a global mindset from the beginning THE MORE YOU CAN REPLICATE YOUR BUSINESS MODEL IN DIFFERENT MARKETS, THE EASIER IT IS TO SCALE.” “ → JOSEPH VALENTE and ANT MIDDLETON, best selling author of Military Mindset and leadership expert. → Veroniek Collewaert, director of the European Scaleup Institute, champions innovation and growth for Europe’s next generation of businesses
11 December 2024 / ENTREPRENEUR.COM / IF YOU’RE STILL STRUGGLING WITH THE FUNDAMENTALS, YOU RISK COPYING YOUR ERRORS INSTEAD OF YOUR SUCCESSES.” and leverages economies of scale,” she states. Their ability to add new features quickly—such as subscription services and cryptocurrency options— illustrates the importance of adaptability in a competitive landscape. “The more you can replicate your business model in different markets, the easier it is to scale,” she adds. In the wake of Brexit, UK entrepreneurs may be hesitant about their international prospects. However, Collewaert remains optimistic about the funding opportunities still available within the UK. “I see a lot of mainland European scale-ups wanting to move to the UK because of the robust VC landscape,” she states, suggesting that UK founders might still find fertile ground at home. A UNIFIED APPROACH TO SCALING Looking ahead, Collewaert identifies key areas for UK scale-ups to explore: “The Green Deal in Europe presents opportunities for clean tech and energy- related innovations. Additionally, there’s a growing demand for remote healthcare solutions.” Collewaert's insights reveal that while UK entrepreneurs face distinct challenges when scaling in Europe, understanding the landscape, leveraging available resources, and focusing on solid business practices can pave the way for success. “Despite the political barriers, scaling is something that isn’t restricted by borders,” she concludes. “We need to foster collaboration to help companies grow, no matter where they are based.” In a climate of uncertainty, these insights offer a crucial roadmap for UK entrepreneurs seeking to thrive in the competitive European market. By adopting these strategies, they can better position themselves for successful expansion, turning challenges into opportunities for growth across the continent. “
12 / ENTREPRENEUR.COM / December 2024 HIGH-STAKES STRATEGY
13 December 2024 / ENTREPRENEUR.COM / A s we approach 2025, the spectre of risk looms large for entrepreneurs, influencing decisions and shaping strategies across industries. Yet, rather than viewing risk solely as a threat, it can be reframed as a catalyst for innovation and growth. Entrepreneur UK talks with prominent figures such as Rob Moore, founder of Progressive Property and host of the Disruptive Entrepreneur podcast; Dr. David Hillson, known as the Risk Doctor; and Mariam Crichton, a non- executive director at the Institute of Risk Management (IRM), to explore effective strategies for managing risk. Their perspectives illuminate how adept risk management not only fortifies businesses against uncertainty but also positions them to thrive amid it. In an age where adaptability is paramount, understanding risk may well be the distinguishing factor in the entrepreneurial journey. “IF YOU DON’T RISK ANYTHING, YOU RISK EVERYTHING → ROB MOORE champions the idea that embracing risk can lead to personal and financial growth. ROB MOORE, DR. DAVID HILLSON, AND MARIAM CRICHTON EXAMINE HOW ENTREPRENEURS CAN LEVERAGE RISK AS A DRIVER OF INNOVATION, STRESSING THE NEED FOR CALCULATED DECISION-MAKING AND STRONG GOVERNANCE IN A CHANGING BUSINESS ENVIRONMENT. THE HIDDEN COSTS OF INACTION Rob Moore, a self-made multimillion- aire entrepreneur and author, offers insights into property investing and financial education. His journey serves as a compelling reflection on risk, illustrating how embracing it can unlock pathways to wealth and personal growth. “The biggest risk I took that failed for eight years was traditional education. Instead of starting my own business at age 18, I went to university and did a degree in architecture which I’ve done nothing with, and it got me well on the way to £50,000 of consumer debt,” he shares. Moore emphasises that the risks he didn’t take—opportunities missed due to fear or indecision—had a more profound impact than any failure. “I perceived them as risky, but I now know nowhere near as risky as not starting your own business and not chasing your dreams,” he says. His experience serves as a reminder that the fear of risk can sometimes lead to inaction, with dire consequences. “The biggest risks are the risks I haven’t taken. This highlights a vital lesson: inaction can often be the most significant risk of all. Entrepreneurs must cultivate a }} ” by PATRICIA CULLEN ”
14 / ENTREPRENEUR.COM / December 2024 mindset that encourages taking calculated risks to avoid the pitfalls of regret. CALCULATED RISKS VS. RECKLESS GAMBLES Moore further distinguish- es between calculated risks and reckless gambles. “The opposite of a reckless gamble should be a calculated risk. A reckless gamble would be some- thing you do emotionally and whimsically, spontane- ously as opposed to with research analysis and strategy. Reckless would be to do something just because someone told you to or just because someone presented you with an opportunity.” He warns against the allure of quick gains that come without understand- ing the underlying factors, noting that desperation and copying can lead to poor decision-making. Someone may have invested in Bitcoin for the price of a pizza, but things have changed. Instead, he advocates for a structured approach to risk manage- ment. “A calculated risk becomes one when you minimise or de-risk your loss and protect the downside.” For instance, in real estate investments, he stresses the importance of having contingency plans. “If I buy real estate for development, I make sure it can still work if I have to put it back to its original use.” For example, when Richard Branson started his airline, he de-risked by having a give-back option on the aircraft. Instead of risking potentially hundreds of millions on buying the aircraft that he couldn’t use, he had a give-back clause such that if the business didn’t work, he could at least liquidate and get most of his investment back. “If you can de-risk an opportunity whereby the only thing you lose is time and not money, and in the pursuit of the investment or opportunity you were able to learn, even if you didn’t earn, this is a good de-risk”, he adds. This pragmatic approach highlights the importance of evaluating risks against
15 December 2024 / ENTREPRENEUR.COM / potential rewards and implementing safeguards that allow for recovery even when things don’t go as planned. He goes on to say that no professional investor would put all their money in one class or one sure bet, and maybe it’s wise for entrepreneurs to not ‘go all in’ or ‘go big or go home’. “High risk, high reward and highly reckless behaviour are very close together,” he adds. LEARNING FROM SETBACKS The unexpected nature of risk is a common theme in entrepreneurship. “The single most unexpected lesson about risk is that all things that challenge you greatly are unexpected, because if they were expected they wouldn’t have challenged you greatly,” Moore explains. The COVID-19 pandemic serves as a prime example. “You can plan for everything in 2020 but not the lockdown; you could never predict that would come.” This unpredictability underscores the need for agility in business opera- tions. Entrepreneurs must be prepared to pivot and adapt to unforeseen challenges. Maintaining liquidity, being agile, and having the capacity to change direction are essential strategies to mitigate risk in volatile environments. While nothing is risk free, and Moore reflects that “the only thing you can truly plan and prepare for if you want to minimise risk, is the thing that you can’t plan and prepare for,” the biggest risk is taking no risk at all. EMBRACING INNOVATION THROUGH RISK Dr. David Hillson further emphasises the positive aspects of risk, defining it as “uncertainty that matters.” He insists that not all risks are negative; some can present signifi- cant opportunities. “Entrepreneurs understand that they need to take }} “THE BIGGEST RISKS ARE THE RISKS I HAVEN’T TAKEN” → MARIAM CRICHTON is a dynamic leader serving as Non-Executive Director at the Institute of Risk Management and Chair of the Institute of Operational Risk Enterprises
16 / ENTREPRENEUR.COM / December 2024 → DR. DAVID HILLSON, widely known as "The Risk Doctor," is a prominent expert in risk management with over 35 years of consulting experience across various sectors worldwide.
17 December 2024 / ENTREPRENEUR.COM / risks in order to innovate, be creative, and ensure they are competitive—especially in the startup phase,” he notes. Hillson advocates for an integrated approach to risk management, encouraging businesses to minimise threats while maximising opportunities. “The goal is to minimise threats, maximise opportu- nities, and optimise performance.” This dual approach is vital for startups, which often need to balance rapid growth with effective risk manage- ment practices. He advises startups to conduct a structured vulnerability assessment to understand areas of potential weakness in the business, then ensure that key assets, resources and IP are protected. He also advises to simultaneously conduct a Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis to compare competitor strengths and weaknesses with your own, then design product development and marketing strategies to maximise relative performance. “During rapid growth phases, use an agile approach to identifying and managing risk, ensuring that the pace of the risk process matches the pace of growth. Higher risk clockspeed is the goal.” “EFFECTIVE MANAGEMENT OF RISK SHOULD BE SECOND- NATURE, BUILT INTO ALL ASPECTS OF THE BUSINESS FROM TOP TO BOTTOM, INFORMING ALL DECISIONS AND FOCUSING EFFORT IN ORDER TO BE EFFICIENT, EFFECTIVE AND EFFICACIOUS” Hillson advocates integrating risk management into core business operations. He believes organisations should foster a culture where all employees, from executives to front-line staff, make risk considerations second nature, enhanc- ing efficiency and agility in navigating challenges. SUSTAINABLE GROWTH AND GOOD GOVERNANCE Mariam Crichton echoes this sentiment, emphasis- ing that rapid growth is not always a positive indicator. “It needs to be good sustainable growth that will last,” she advises. Today’s businesses must consider a variety of factors beyond just financial metrics. The environmental impact, societal implications, and geopolitical risks are increasingly important in evaluating the overall health of a business model. “Good governance is critical,” Crichton continues. “Access to up-to-date information is essential for making the best strategic decisions.” In this context, businesses that embrace risk while adhering to sound governance principles are better positioned to navigate complex challenges. EMERGING TRENDS IN RISK MANAGEMENT As the business landscape evolves, So too do the challenges associated with risk. Crichton points out that growing environmental, social, and geopoliti- cal risks pose significant threats. Additionally, emerging technologies, particularly artificial intelligence (AI), present both opportunities and challenges. “Growing cybersecurity threats have the potential to significantly impact operations and reputation,” she warns. Thus, it’s crucial for businesses to remain vigilant and prepared for changes that can arise from technological advancements and societal shifts. “The need for effective operational and enterprise risk management is more acute than ever,” Crichton concludes. RISKY BUSINESS Understanding and embracing risk is essential for any entrepreneur aiming for success. As Moore asserts, “If you don’t risk anything, you risk everything.” By recognising the value of calculated risks, learning from setbacks, and maintaining a proactive approach to innovation, businesses can thrive amid uncertainty. Adopting a culture of risk that promotes agile decision-making and effective governance will not only lead to improved business models but also pave the way for sustainable growth. In this high-stakes game, the winners are those who dare to take risks while managing them wisely.
18 / ENTREPRENEUR.COM / December 2024 I n the rapidly evolving landscape of artificial intelligence (AI), voice technology is becoming an integral part of how we live and work. From smart devices to virtual assistants, our interactions with machines are increasingly vocal. But for many, the promise of a truly inclusive voice technology is still out of reach. Enter Katy Wigdahl, CEO of Speechmatics, a company that is on a mission to change that. Katy Wighdahl is pioneering change in the AI industry, a field where female leadership is still lacking. As the CEO of her company, she has earned a remarkable 5th place in the 2024 JP Morgan Top 200 Women- Powered Businesses Report, which showcases outstanding female entrepreneurs and their significant contributions. BREAKING THE SILENCE How Katy Wigdahl, CEO of Speechmatics, is leading the charge for inclusivity by amplifying voices in the tech world. by PATRICIA CULLEN → KATY WIGDAHL, CEO of Speechmatics, leading the charge in voice recognition technology
19 December 2024 / ENTREPRENEUR.COM / BEING A WOMAN IN TECH, I KNOW WHAT IT’S LIKE TO FEEL LIKE YOUR VOICE DOESN’T ALWAYS CARRY AS MUCH WEIGHT AS OTHERS” B eyond her role in shaping the future of voice technology, Wigdahl is a passionate advocate for inclusivity, striving to ensure that voices from all back- grounds are acknowledged and understood. “I’m very passionate about ensuring technology is accessible for everyone,” Wigdahl says. “There are far too many systems in place, particularly in tech, that just weren’t designed with diversity in mind. Voice technology is no exception—and we’re here to change that.” A LEADER WITH A MISSION Wigdahl’s rise to the top of Speechmat- ics comes at a time when the tech industry is undergoing a reckoning. Issues around bias, diversity, and inclusion are front and centre, and Wigdahl is determined to make a difference. “One of the things I feel strongly about as a female leader in tech is the importance of representation,” she explains. “There’s still a lot of work to be done, and we need more women and more diversity at every level of this industry.” When Wigdahl joined Speechmatics, she didn’t come from a background in AI or voice technology, but her passion for driving growth and innovation quickly became apparent. She credits }} “THERE ARE FAR TOO MANY SYSTEMS IN PLACE, PARTICULARLY IN TECH, THAT JUST WEREN’T DESIGNED WITH DIVERSITY IN MIND.” ↓ KATY WIGDAHL, Speechmatics International Women’s Day event, 2024
20 / ENTREPRENEUR.COM / December 2024 much of her success to her ability to see beyond the technology itself and focus on its potential impact. “I didn’t need to be a technologist to under- stand how transformative this technology could be,” she says. “What I did need was the vision to scale it and make sure it was accessible to all.” Under Wigdahl’s leadership, Speechmatics has grown into one of the most inclusive and innovative companies in the voice recognition space. Its technology can transcribe speech in over 48 languages and dialects, and it has been designed specifically to overcome the biases that have long plagued speech recognition systems. TACKLING BIAS IN VOICE TECHNOLOGY Bias in AI is a major issue, and speech recognition technology has historically struggled with under- standing voices that don’t fit a narrow “standard” model—often leaving women, non-native speakers, and those with regional accents at a disadvantage. Wigdahl sees this as a fundamental flaw in how many systems are built. “Speech technology that only works for certain types of voices is unaccept- able,” Wigdahl says. “We’ve worked really hard at Speechmatics to build a system that recognises diverse voices. It’s not just a nice-to-have—it’s a necessity. Everyone’s voice matters.” Her determination to solve this problem comes not only from a technical standpoint but also from a personal understanding of what it means to feel unheard. “Being a woman in tech, I know what it’s like to feel like your voice doesn’t always carry as much weight as others,” Wigdahl reflects. “That’s why it’s so important to me that our technology amplifies voices that have historically been marginalised.” Wigdahl’s commitment to diversity is reflected in the company’s products, which are designed to recognize a wide range of accents and dialects—something many of the industry’s bigger players have struggled to achieve. “We’ve focused on building models that aren’t TECH NEEDS MORE WOMEN, AND WE NEED MORE DIVERSE PERSPECTIVES” “ → TERI DRUMMOND (Director of Engineering), LAUREN KING (Chief Marketing OFFICER), KATY WIGDAHL (CHIEF EXECUTIVE OFFICER), SIAN JOHNSON-JAMES (Senior People Partner), BENEDETTA CEVOLI (Senior Machine Learning Engineer) at the Speechmatics Women's Day event, 2024
21 December 2024 / ENTREPRENEUR.COM / biassed towards the most common accents,” she explains. “We wanted our technology to work just as well for someone with a strong regional dialect as it does for someone with a more ‘neutral’ accent.” THE POWER OF VOICE FOR WOMEN IN BUSINESS Wigdahl believes that voice technology has the potential to be a great equaliser, especially for women in business. She’s passionate about how this technology can enable better communication, reduce misunderstandings, and create opportuni- ties for people whose voices have traditionally been sidelined. “For women, especially in leadership positions, having your voice heard—literally and figurative- ly—is so important,” Wigdahl says. “Voice technology can play a big role in levelling the playing field, whether it’s through more accurate meeting transcripts or enabling multilingual teams to communicate seamlessly.” In her own career, Wigdahl has used her voice to advocate for change, both within Speechmatics and in the broader tech industry. She’s a strong believer in the idea that leadership means creating space for others to succeed. “As a female leader, I want to make sure I’m lifting others up and helping create more opportunities for women and underrepresented groups in tech. We need to break down those barriers.” LEADING WITH EMPATHY AND PURPOSE Wigdahl’s leadership style is marked by empathy, collaboration, and a clear sense of purpose. She’s quick to acknowledge that being a CEO in the AI space comes with its challenges, particularly when it comes to balancing the demands of running a business with the need to ensure ethical and responsible innovation. “One of the things I’ve learned is that leadership is about more than just driving growth,” she says. “It’s about understanding the impact of what you’re building. Technology should be used to improve lives, not create new divides.” This philosophy has guided Wigdahl’s approach to leading Speechmatics. She’s committed to building a company culture where diverse voices are not only included but celebrated. “I’ve made it a priority to foster a culture where everyone feels empowered to speak up and share their ideas. It’s often those diverse perspectives that lead to the best innovations.” “THERE’S STILL A LOT OF WORK TO BE DONE, AND WE NEED MORE WOMEN AND MORE DIVERSITY AT EVERY LEVEL OF THIS INDUSTRY” INSPIRING THE NEXT GENERATION OF WOMEN IN TECH As someone who has broken through many barriers herself, Wigdahl is passionate about encouraging the next genera- tion of women in tech. She sees mentorship as a critical tool for helping young women navigate an industry that can often feel exclusionary. “I didn’t get to where I am on my own,” Wigdahl says. “I had incredible mentors who believed in me and pushed me to keep going, even when things got tough. Now, I see it as my responsibility to pay that forward and help other women coming up in tech.” Her advice to young women looking to enter the industry is clear: “Don’t let anyone tell you that you don’t belong. Tech needs more women, and we need more diverse perspectives. Don’t be afraid to use your voice and take up space.” THE FUTURE OF INCLUSIVE TECH Wigdahl is a leader on a mission—not just to advance the capabilities of voice technology, but to ensure that this technology is inclusive, ethical, and available to everyone. As the CEO of Speechmatics, she’s breaking new ground in AI and pushing the industry toward a future where all voices are heard. Wigdahl’s story is one of resilience, purpose, and the power of representation. In an industry that still struggles with diversity, she’s proving that women in tech can not only thrive but also lead with empathy, integrity, and vision. “We’re building technology for the future,” Wigdahl says, “and that future has to be one where everyone is included.”
22 / ENTREPRENEUR.COM / December 2024 B/Leadership Challenging the Norm Leading the legal revolution by going public- key lessons for entrepreneurs. by PATRICIA CULLEN I n 2012, David Beech, CEO of Knights, made a bold move that would position the legal services firm as a pioneer in a notoriously traditional industry. Knights became the first business to capitalise on deregulation in the UK legal sector, adopting a corporate structure instead of the longstanding partnership model. This decision was no small feat—it separated ownership from management and enabled the company to evolve into the fast-growing legal powerhouse it is today. “We were the first to use deregulation of the legal sector to adopt a corporate structure,” Beech explains. “This freed our professionals to focus on our clients, delivering premium services with speed, accessibility, and high levels of commu- nication.” For entrepreneurs looking to spot similar opportunities, the key lesson is to recognise regulatory shifts as catalysts for innovation. Whether you’re in law, finance, healthcare, or technol- ogy, Beech’s move demonstrates that when a market transforms, agile businesses can ride the wave of change. “Adopting a corporate structure can free professionals from traditional manage- ment,” Beech says, pointing to the immense benefits this brings in terms of operational efficiency and team collaboration. The corporate structure advantage: A blueprint for entrepreneurs Knights’ corporate restructuring had a profound impact on the company’s service delivery and client relations. The shift allowed them to scale rapidly, fostering a culture in which lawyers work together as a cohesive unit, rather than competing against one another for equity or clients—a common dynamic in traditional law firms. “The fuel behind our growth has been making decisions that help our people work together as one team rather than competing as individuals,” Beech emphasises. In an industry where law firms are grap- pling with succession challenges and generational shifts, Knights’ model offers a compelling alternative. “Traditional law firms are finding it increasingly difficult to secure the investment needed to allow existing partners to retire,” Beech notes. Many firms, burdened by financial risk, face internal conflicts over succession planning. In contrast, Knights attracts a new generation of lawyers who want top-quality work in a modern, collab- orative environment—without the financial strain of partnership. For other entrepreneurs, the takeaway is clear: restructuring your business model to foster collaboration and remove internal barriers can unlock untapped growth. “Our business is for those who want to pursue their career in a way that works for them,” Beech explains. By creating flexible career paths and maintaining modern, collaborative offices across the UK, Knights offers a forward-thinking alternative that has proven to be a magnet for top talent. Going public: A strategic move for growth Knights’ decision to go public in 2018 was a turning point. As Beech explains, “Our public listing provided us with the profile to accelerate growth through IMAGE COURTESY KNIGHTS → DAVID BEECH, CEO of Knights, leads the firm with a vision to redefine legal services beyond London, leveraging innovation and strategic growth to elevate the brand in a competitive market.
23 December 2024 / ENTREPRENEUR.COM / strategic acquisitions and organic growth.” Since then, Knights has expanded its presence to 26 locations across the UK and achieved an impressive £150 million in revenue, solidifying its position as a leader in the legal industry. For entrepreneurs, Knights’ journey underscores the importance of timing and positioning. “For a while we were an outlier,” Beech admits. “But we are now a recognised name in our sector.” By going public, Knights secured the capital and visibility needed to grow rapidly, both by acquiring complementary firms and attracting high-calibre professionals who see Knights as a safe alternative to the financial risks of traditional partnership. Moreover, Beech believes that being a publicly listed company gives Knights a significant edge in attract- ing talent and investment— an advantage that entrepre- neurs can replicate by considering similar moves in their own industries. “The modern generation of partners want quality work in a modern, collaborative environment without financial risk—and they can find all this at Knights,” he says. How Knights is shaping the legal landscape Knights is no longer just a disruptor; it’s an industry leader that’s setting the pace for change. “We are showing what is possible when a business is freed from the traditional partnership model,” Beech reflects. As more law firms face financial pressures and succession challenges, many are looking to Knights’ model as a potential solution. “A growing number of law firms are looking at how we do business and concluding that to grow their business and solve their succession problems, they should become part of our Group,” Beech explains. This ripple effect is a lesson for entrepreneurs looking to influence their own markets. By identifying inefficiencies or pain points in your industry—such as the rigid partnership model in law—you can create innovative solutions that set a new standard. “The market now understands and trusts our model,” Beech says, adding that Knights’ ability to continu- ously attract top talent and acquire complementary firms has cemented its reputation as a leading legal services provider. Looking ahead As Knights looks to the future, its goals are ambitious: the firm aims to double its revenue over the next three years through a combination of organic growth and strategic acquisitions. “Traditional law firms face the dual headaches of squeezed cash flow and succession challenges,” Beech notes. “We think that applies to most sectors—people are often so busy looking inward that they don’t see the changes happening around them.” For entrepreneurs, Knights’ success story serves as a reminder to stay attuned to shifts in your industry and to embrace change as an opportunity for growth. “When those changes become impossible to ignore, the solution is clear: look for a new way of doing business—and we provide exactly that,” Beech concludes. Knights’ remarkable transformation from a law firm pioneer to a publicly listed industry leader is a powerful case study for entrepreneurs. By leverag- ing regulatory shifts, adopting a corporate structure, and embracing the benefits of public listing, Knights has not only shaped its own destiny but also influenced the future of the legal industry. For other entrepreneurs, the lessons are clear: embrace change, foster collaboration, and never be afraid to challenge the status quo. THE FUEL BEHIND OUR GROWTH HAS BEEN MAKING DECISIONS THAT HELP OUR PEOPLE WORK TOGETHER AS ONE TEAM RATHER THAN COMPETING AS INDIVIDUALS”
24 / ENTREPRENEUR.COM / December 2024 The voice of entrepreneurship around the world Access fresh content daily on our website
25 December 2024 / ENTREPRENEUR.COM / Five Daily Strategies to Balance Entrepreneurship and Wellness B/Tech 1/APPLE IPAD PRO “The Apple iPad Pro is a lifesaver, especially when I’m travelling between our clinics in London, Edinburgh, and Glasgow. It’s perfect for work, letting me keep track of appointments and review client photos, but it’s also my go-to for entertainment on the move. I can watch shows, read, or even get some work done without carrying a bulky laptop.” 2/APPLE WATCH SERIES 10 “After having my second baby last year, getting back into fitness while juggling a busy schedule has been tough, but my Apple Watch helps me stay on track. It’s brilliant for tracking steps and workouts, and I love the reminders to stay active, which keep me motivated even on hectic days. I can also compete with my sisters and friends which is a good motivator!” 3/BOSE HEADPHONES “When I’m in the clinic I’m with clients or the team, so when it comes to admin or planning for the growth of the business, it’s mainly at home, which can be a bit chaotic at times with everything going on. The headphones let me zone into what I need to do and get it done, so I can clear the decks and get back to the family. They’ve also been a lifesaver for all the travelling I’ve been doing between clinics.” 4/DYSON AIRWRAP “I use the Dyson Airwrap at home and it’s fantastic. It styles my hair quickly without the damage of extreme heat, which is perfect for when I’m short on time. Whether I need to smooth, curl, or add volume, it’s a versatile tool that helps me feel polished for the day, even when everything feels manic. “ 5/OURA RING “I started using the Oura Ring after struggling with inconsistent energy levels as I navigated the juggle of running a business and raising a family. I need a tool to help me understand my body better. The ring’s insights into my sleep, recovery, and menstrual cycle helped me identify patterns, balance my hormones, and it has really helped me improve my overall well-being.” Fiona Ross, a former nurse and founder of The Aesthetics Club, oversees a growing network of clinics in London and Scotland. With ambitious plans for expansion into the US and UAE, Ross emphasises the importance of leveraging technology and innovation to drive productivity, enhance well-being, and sustain a healthy work-life balance. 1 2 3 4 5 According to FIONA ROSS
26 / ENTREPRENEUR.COM / December 2024 Inclusive Culture A look at how to support neurodiverse candidates in the recruitment process. by FELIZITAS LICHTENBERG “With around 15% of the UK population being neurodivergent, it is more important than ever that employers are educated on how best to support neurodiverse employees in the recruitment process, and beyond. UK government figures have revealed that autistic graduates are twice as likely to be unemployed after 15 months as non-disabled graduates, with only 36% finding full-time work in this period, highlighting a clear imbalance during the recruitment stage of the employment process. Data from the same governmental review revealed that only 3 in 10 autistic adults are employed, showing that this issue stretches far beyond graduates - who in many cases may be new to the interview process and workplace as a whole - and emphasises a clear need for employers to place a greater emphasis on accommodating to neurodiverse candidates. While neurodivergent candidates face barriers, they also bring exceptional strengths and perspectives that can offer immense value to employers. However, conventional recruitment methods often inadvertently disadvantage these individuals, as traditional approaches may not align with their communication styles, thinking patterns or needs.
27 December 2024 / ENTREPRENEUR.COM / To level the playing field, businesses should reevaluate how they approach recruitment - from job descriptions to interviews - ensuring that neurodivergent candidates are given the support and accommodations they need to succeed. Whilst there are clear strategies that can be put in place to achieve this, the foundation of an inclusive recruitment process starts long before a job opening is advertised, it begins with creating an accepting and informed workplace culture. By educating all employees, particularly hiring managers and HR professionals, about the strengths and needs of neurodivergent individuals, companies can create an environment that is more accepting of differences. This training should cover practical tips on how neurodivergence might manifest in the workplace, meaning that all employees are aware and more sympathetic to behaviours that may be symptomatic of someone with a neurodiverse condition. Company-wide education also helps to dismantle negative stereotypes and shift focus to the unique skills neurodiverse individuals bring. With a better understanding of neurodivergence, employers can create a hiring process more conducive to the success of all employees. As mentioned, neurodivergent employees often bring valuable skills that enhance team performance. For instance, candidates on the autism spectrum frequently demonstrate exceptional attention to detail and strong problem-solving abilities, employees with ADHD can excel in fast- paced environments where quick thinking is crucial and dyslexic individuals often have a unique ability to see the “big picture.” By highlighting these attributes in both internal conversations and external recruitment materials, businesses can attract neurodiverse talent and foster a work environment that embraces a range of cognitive styles. In terms of implementing changes to the interview itself, multiple adjustments can be made to cater to neurodiverse candidates. The traditional interview process is often heavily reliant on face-to-face, unstructured conversations, which can be particularly challenging for people with specific conditions. Many neurodiverse individuals may struggle with open- ended questions, reading social cues or maintaining eye contact, which can lead to misjudgments about their capabilities. To counteract these issues, there are small changes that companies can make which will make a huge difference to the candidates’ performance. Providing interview questions in advance can allow candidates to prepare more thoroughly, reducing anxiety and ensuring they can showcase their strengths. Additionally, offering alternatives to in-person interviews, such as written or video-based assessments, may provide neurodivergent candidates with a format that better suits their communication preferences. For example, conducting interviews in noisy or busy environments may be overwhelming for someone who struggles with sensory overload, therefore offering a choice of interview settings, including quieter or virtual spaces, can significantly improve the experience for neurodivergent candidates. Making the recruitment process more accessible for neurodiverse candidates is not just about compliance or diversity targets, it’s about creating a more equitable and innovative workplace that represents and values different perspectives. By fostering an inclusive culture, recognising the strengths of neurodivergent individuals and making adjustments to the interview and selection processes, companies can begin to tap into a highly skilled talent pool. For forward-thinking employers, investing in neurodiverse recruitment is an investment in the future of work.” Felizitas is the Global Head of Diversity & Inclusion at SumUp. With 15 years of proven experience, Felizitas has expertise in Diversity and Inclusion, ESG and Mental. She previously worked at Vodafone, where she was Global Diversity and Inclusion Lead. Felizitas has an Intercultural background, with Eurasian roots and having lived and studied in Germany, USA, Britain and France. www.sumup.com WITH A BETTER UNDERSTANDING OF NEURODIVERGENCE, EMPLOYERS CAN CREATE A HIRING PROCESS MORE CONDUCIVE TO THE SUCCESS OF ALL EMPLOYEES.”
28 / ENTREPRENEUR.COM / December 2024 I n today’s competitive business landscape, high growth is often a combination of great ideas, flawless execution, and a deep commitment to stakeholders. Industry leaders— including Tom Leathes, CEO and co-founder of Motorway; Mark Cuddigan, CEO at THIS; Anthony Stevens, operations director at Sapphire; Michael Baron, commercial director at BWS; and Conrad Ford, chief product and strategy officer at Allica Bank, join Chris Gove, founder of menswear brand Percival, to share their unique strategies for scaling their businesses. Despite differing industries and challenges, their success is driven by common themes: putting people first, aligning strategy with market needs, and prioritising operational excellence. The Secret Sauce Insights from industry leaders on how to unveil the secrets to thriving business growth. by PATRICIA CULLEN A llica Bank, a financial institution tailored exclusively for established businesses, has recently been hailed by The Sunday Times as the fastest-growing company in the UK. In light of this impressive accolade, we spoke to Conrad Ford, the bank’s Chief Product Strategy Officer, who offered his invaluable insights into the factors driving this remarkable success. “I always tell my team leaders that we can’t work ten times harder when our business is ten times bigger – mathematically, there aren’t enough hours in the week! So you must obsess about finding and developing the best people – your greatest achievement as a leader is to generate talent that can perform at a level above you,” he says. ‘T/Strategies → CONRAD FORD, Chief Product & Strategy Officer at Allica Bank, is responsible for driving product innovation and strategic direction to support the bank's growth and customer-focused solutions.
29 December 2024 / ENTREPRENEUR.COM / STAY MISSION FOCUSED Mark Cuddigan, CEO of THIS, a company specialising in plant-based meat alternatives advises entrepreneurs to “stay focused on your mission, but have some flexibility in how you achieve it” to achieve high growth. Cuddigan emphasises the importance of staying true to core values while adapting to market shifts. “Fast growth is never a solo effort,” he adds, underscor- ing the value of building an exceptional, mission-driven team that shares your passion and strengthens the business vision. FOSTER COMMUNITY ENGAGEMENT Chris Gove, founder of Percival, who achieved over 100% CAGR over four years, shares a key tip for scaling brand growth: “Build a loyal community for your brand.” He emphasises the importance of being “inclusive, not exclusive,” using values like football, comedy, and responsible manufacturing to engage a diverse audience in both the UK and the US. To strengthen connections with his community, Gove advocates for transparent marketing. He explains, “We’ve broken the fourth wall with founder-led marketing,” allowing direct communication with fans. Additionally, he highlights the value of in-person experiences, stating, “Engaging your community through IRL events, such as football tournaments and comedy nights, is hugely rewarding and inclusive.” This community-first approach is further reinforced by Percival’s crowd-funding model, enabling customers to }} I ALWAYS TELL MY TEAM LEADERS THAT WE CAN’T WORK TEN TIMES HARDER WHEN OUR BUSINESS IS TEN TIM ES BIGGER – MATHEMATICALLY, THERE AREN’T ENOUGH HOURS IN THE WEEK!” “ → MARK CUDDIGAN, CEO at THIS, drives remarkable growth in the plant-based food sector,
30 / ENTREPRENEUR.COM / December 2024 “own a piece of our brand,” which helps solidify their commit- ment to the company’s growth. By releasing limited-edition collec- tions and partnering with brands like Umbro and Champion, Percival continues to expand its reach while staying true to its core values. CUSTOMER-CENTRIC INNOVATION: MOTOR- WAY’S APPROACH For Tom Leathes of Motorway, the UK’s fastest-growing used car marketplace, the secret to their growth lies in being customer-centric from day one. Motorway, an online car-selling platform, recognised early on that selling a car is a high- friction, unenjoyable task for most people. At the same time, car dealers struggled to find the best stock efficiently. Motor- way’s mission was to eliminate these pain points by creating a seamless transaction experience for both car sellers and dealers. “Ultimately, the platform delivers amazing outcomes to our consumer car sellers and dealers buying stock. Being customer-first is one of the values we instilled early on and ENGAGING YOUR COMMUNITY THROUGH IRL EVENTS, SUCH AS FOOTBALL TOURNAMENTS AND COMEDY NIGHTS, IS HUGELY REWARDING AND INCLUSIVE” “ → CHRIS GOVE, founder of Percival – an innovator in modern British menswear ‘T/Strategies
31 December 2024 / ENTREPRENEUR.COM / have never wavered from,” says Leathes. By focusing on customer needs, Motorway has streamlined the car-sell- ing process while delivering superior outcomes. The key to their exponential growth, selling over half a million cars, lies in scaling their platform through technical and product innovation. Leathes adds: “As we’ve scaled, we have had to operationalise our platform to enable us to sell more than 1,000 cars a day, which has involved a lot of technical and product innovation.” Leathes believes that this relentless focus on customers, combined with technological advance- ment, has allowed Motorway to not only support the entire used-car transaction cycle but also offer a unique value proposition. This has built a strong network of over 5,000 verified car dealers and empowered Motorway to grow continuously. And while he’s proud of the 2023 results, Leathes empha- sises that they are just getting started. PEOPLE FIRST: SAP- PHIRE’S KEY TO SUCCESS For Anthony Stevens, operations director at Sapphire, an employee- owned contracting and accounting firm, the key to their impressive growth is simple: putting people first. The results speak for themselves—turnover jumped from £361.6m to £444.6m in the last finan- cial year. Sapphire’s shift to employee ownership in BEING CUSTOMER-FIRST IS ONE OF THE VALUES WE INSTILLED EARLY ON AND HAVE NEVER WAVERED FROM.” “ }} → TOM LEATHES, CEO and co-founder of Motorway, is revolutionising car sales with an innovative online platform.
32 / ENTREPRENEUR.COM / December 2024 ‘T/Strategies 2021 underscores their dedication to building a positive, empowering workplace culture. “I believe the secret to our high growth lies in our unwavering commitment to our people—the heartbeat of our organisation,” Stevens explains. He argues that a business’s culture is its most valuable asset, far outweighing strategy. “A business with a poor culture is far harder to recover from, even if they have the most compelling strategy. Culture trumps strategy 10 times over.” By fostering a culture where the team feels united, driven, and agile, Sapphire empowers its employees to take ownership of their roles and contribute to the company’s overarching vision. This, in turn, has a direct impact on customer satisfaction. As Stevens points out, “Having a motivated team is reflected in our customer interac- tions and feedback. Our people invest their energy into our customers and partners, building long-lasting relationships based on trust and mutual benefit.” Sapphire’s people-first approach creates a virtuous cycle where motivated employees lead to satisfied customers, which in turn drives growth. I BELIEVE THE SECRET TO OUR HIGH GROWTH LIES IN OUR UNWAVERING COMMITMENT TO OUR PEOPLE— THE HEARTBEAT OF OUR ORGANISATION.” “ → ANTHONY STEVENS, Operations Director at Sapphire, plays a key role in driving efficiency and growth at the contracting and accounting firm.
33 December 2024 / ENTREPRENEUR.COM / ALIGNING STRATEGY WITH MARKET NEEDS: BWS’S GROWTH PATH Michael Baron, commercial director of BWS, a business that started during the challenging times of the pandemic, providing expertise to Small and Medium- sized Enterprises (SMEs), attributes their rapid growth during the first three years—in- cluding a 156% increase in one year alone—to a clear understand- ing of their market and custom- ers. For Baron, the formula for success is simple: aligning strategy with market needs and lead generation activities. “Our secret shouldn’t be seen as a secret; it’s simply understanding our customers and the market, and ensuring our strategy aligns with our lead generation activi- ties,” Baron shares. He emphasises that BWS’s mission is to serve SMEs, and they ensure visibility in the market by knowing where to invest their resources and energy. This targeted approach has been crucial in helping BWS secure steady growth. Another cornerstone of their success is maintaining high standards in service delivery. “Delivery is the heart of business development, and our best-in- class service delivery has further enabled significant growth,” says Baron. By ensuring that the quality of their service consistent- ly meets or exceeds expectations, BWS has been able to establish a strong foothold in the market and build lasting relationships with their clients. THE COMMON THREAD: PEOPLE AND CUSTOMERS FIRST While the businesses led by Leathes, Cuddigan, Stevens, Baron and Ford operate in vastly different sectors, their growth strategies share a common thread: a deep understanding of the value of people—whether OUR SECRET SHOULDN’T BE SEEN AS A SECRET; IT’S SIMPLY UNDERSTANDING OUR CUSTOMERS AND THE MARKET.” “ employees, customers, or partners. Leathes emphasises that putting customers at the heart of Motor- ways innovation has been instrumental to scaling their business, while Stevens under- scores the importance of a motivated, unified team in Sapphire’s success. Baron, on the other hand, credits a sharp focus on customer needs and aligning strategy with market realities as pivotal to BWS’s fast growth. Whether it’s through customer- centric technology, empowering employees, or aligning strategies with market needs, these leaders demonstrate that the secret to high growth is not in a single breakthrough, but in a sustained focus on the people who drive your business forward. → MICHAEL BARON, Commercial Director at BWS, leads the company’s strategic growth and commercial operations.
34 / ENTREPRENEUR.COM / December 2024 ‘T/Business O ur launch date was set: March 2020. We were poised to launch Skoot, a social mobility platform connecting friends for shared rides while planting trees to offset their carbon footprint. Our ads were booked, Student Brand Managers recruited, and merchandise all printed. Then the world slammed on the brakes. Lockdown. Social distancing. Our vision of a world sharing rides felt not just improbable, but irresponsible. Our carefully crafted business plan crumbled in the face of a global pandemic. Roadblock To Road Map How SKOOT pivoted its business for a sustainable future (and five lessons you can use to do the same!) by GREG GORMELY G iving up, however, wasn’t an option. We had a powerful idea, had recruited a talented team, and had a burning desire to make a positive impact. We just needed to adapt. Fast. This is how we did it, and the lessons you might find useful to pivot and evolve your business towards a more sustainable and ultimately, more successful future. LESSON 1/ When the World Changes, Change With It (and Lean Into the Problem) We asked ourselves: What does a world locked down, bound by social distancing, need? The answer: an Errands App connecting those in need with those willing to help. This pivot, fueled by an Innovation Grant, breathed new life into Skoot (and gave the Team purpose) and revealed a vital lesson: sometimes, the biggest problems present the most powerful opportunities for innovation. LESSON 2/ Don’t Be Afraid to Dive Deeper (and Leverage Your Existing Strengths) As the world navigated the pandemic, we doubled down on our tech. We shifted from a consumer- focused ride-sharing model to a B2B approach, supporting businesses transitioning back to work with safe and sustainable commute solutions.
35 December 2024 / ENTREPRENEUR.COM / This pivot taught us to look beyond our initial offering and leverage our core strengths (in our case, our technology and commitment to sustainability) to meet evolving market needs. LESSON 3/ Listen to Your Customers (They Often Hold the Key to Your Next Big Idea) Conversations with our Clients and Advisors revealed a critical pain point: measuring and managing Scope 3 emissions. We realised our (patented) technology, designed for ride-sharing, could be reimagined to track, analyse, and reduce emissions from employee commutes and business travel. Listening to our customers’ challenges unlocked a powerful new application for our technology and revealed a massive market opportunity. LESSON 4/ Authenticity is Everything (Let Purpose Be Your Guiding Light) Our pivot wasn’t just strategic; it was driven by our genuine desire to make a positive impact. This authenticity resonated with customers, investors, and our team, fueling our growth and ultimately shaping our identity as a leading impact business and ESG consultancy LESSON 5/ Your Team and Trusted Advisors Are Crucial (They are your Greatest Assets) During challenging times, partners, a supportive team and trusted advisors are invaluable. Co-founder Mark Stringer weathered the storms with me, along with Ashish Dev-King, our NED and now Chairman. Ashish once took us for a long lunch to reassure and uplift us. It’s essential to have partners who can walk with you during tough periods. As Winston Churchill said, “If you’re going through hell, keep going.” This mindset guided us. Our team’s unwavering commitment and strong partnerships were our backbone, while trusted advisors provided the clarity to navigate uncertainty Our journey from ride-sharing platform to ESG impact consultancy is a testament to the power of adaptability, innovation, and a commitment to a vision bigger than ourselves. We learned that the path to success is rarely linear. Be open to change, embrace the unexpected detours, and never underestimate the power of a good pivot. Today, as a top 5% B Corp, we’re incredibly proud to empower businesses to measure, manage, and reduce their environmental impact, working with companies like Good Energy, Addison Lee, De Vere Hotels, Dream International brands like Amazonico, Bupa to name but a few. We believe that profitability and purpose aren’t mutually exclusive; they’re two sides of the same coin. By embracing change, leading with your values, and constantly seeking innovative solutions, you too can pivot (or as we like to say, evolve) your business towards a more sustainable – and successful – future.” Greg left the corporate world in 2006 to start a consulting business, helping SMEs grow through investment and scaling. In 2014, he co-founded Bink, an app linking payment cards to loyalty programs, which has raised £40M and integrated into Barclays’ app with 12M users. After a motorbike accident in 2018, Greg launched SKOOT, originally a carbon-negative ride-sharing app, later pivoting during COVID to become SkootEco, an award-winning ESG platform. As CEO, Greg leads this B-Corp business, raising over £5M, including investment from the Low Carbon Innovation Fund, to help businesses and individuals take meaningful action for a greener world. skoot.eco LISTENING TO OUR CUSTOMERS’ CHALLENGES UNLOCKED A POWERFUL NEW APPLICATION FOR OUR TECHNOLOGY AND REVEALED A MASSIVE MARKET OPPORTUNITY.”
36 / ENTREPRENEUR.COM / December 2024 THE POWER OF FLEXIBILITY One way to counteract these pressures is by creating a flexible work environment. Many companies are now opting for a hybrid work model, giving employees the flexibility to split their time between home and the office work. Striking the right balance between the two is key, and it really depends on the role and the person’s level of experience. For instance, experienced employees can often be more productive working from home because they know how to manage their time and tasks without needing constant oversight. Plus, when you factor in things like childcare, school schedules, and the headache of rush-hour traffic, working from home can make life a lot easier. Being able to skip the commute means employees can start their day fresh, which often leads to better focus and more productive work. That said, those in more collaborative roles or early in their careers may benefit from face-to-face interactions, mentorship opportunities, and spontaneous brainstorming, which are harder to replicate virtually and are better facilitated by an office environment. In the end, it’s all about flexibility that meets the needs of both the business and the employees, allowing each to benefit from the hybrid setup. I n today’s fast-paced business world, the pressures on employees have never been greater. Contrary to early predictions that technology would reduce work hours, we now find ourselves working harder and longer, with stress levels at an all-time high. Innovations like email alone take up an average of seven hours per week per employee, and virtual meeting platforms such as Zoom, Slack, and Teams have further blurred the boundaries between work and personal life. As a result, many employees are experiencing mental health issues and burnout, which has a direct impact on productivity and increases the risk of losing valuable talent. Keeping Top Talent How you can tackle employee burnout and retain top talent by BRYN THOMPSON ‘T/Wellness
37 December 2024 / ENTREPRENEUR.COM / FOSTERING A BREAK-FRIENDLY CULTURE Continuous work without breaks is a recipe for burnout. It’s essential for employees to take regular breaks to refresh and reset. Companies can actively encourage this by fostering a culture, where stepping away from work for a coffee, a walk, or a proper lunch is seen as a positive. Simple gestures like offering free breakfasts, early Friday finishes, or special occasions where everyone takes a break to watch significant events can make a big difference in employee well-being. RECOGNISING AND REWARDING EFFORT People are naturally motivated by incentives and recognition, and companies that acknowledge this can boost morale and productivity. Rewards don’t always need to be financial. Offering extra time off, ‘duvet days’ for relaxation, or organis- ing team-building trips can be just as effective in showing appreciation. Even simple gestures, like sending a company-wide email to celebrate an employee’s achievement, can boost morale and inspire the wider team, reinforcing a culture of appreciation and support. STRESS MANAGEMENT AND RESIL- IENCE BUILDING Stress is a natural part of work life, but too much of it can lead to mental health issues. Training employees to understand and manage stress can help them develop effective coping mechanisms. It’s equally important to foster an environment where seeking help is not only accepted but encour- aged. By normalising conversations around stress, companies can make a huge difference in creating a healthier, more resilient workforce. THE IMPORTANCE OF REGULAR CHECK-INS Managers play a crucial role in identifying and addressing burnout before it escalates. Regular one-on- one check-ins provide opportunities to spot signs of stress early and offer support. Training managers to recognise the external pressures employees may face, and encouraging open dialogue, builds trust and allows employees to confide in their line managers without fear. These regular check-ins enable early detection and swift action to prevent bigger issues down the line, helping to retain valuable talent and maintain a healthy work environment. THE PATH FORWARD It is imperative for businesses to create and implement strategies that enable employees to feel safe, appreciated, and motivated. The mutual benefits are clear: employees who feel valued, supported, and less stressed are more likely to stay loyal to the company, reducing attrition and strengthening the organisation’s reputation as a great place to work. By investing in a culture of care and trust, companies not only protect their people but also set themselves up for long-term success.” Bryn Thompson is an experienced entrepreneur and the founder of New World Selling, a consultancy dedicated to sales and leadership training. Having trained over 20,000 sellers and sales leaders across various industries, Bryn has contributed billions to bottom lines. With a track record of driving significant growth—such as leading the Commercial Training Division at Pareto from £8 million to £30 million—he now shares fresh insights to help startups avoid common pitfalls. Bryn aims to debunk key myths about selling and share his story on scaling up as an entrepreneur, while also optimising growth and profitability for private equity and venture capital firms. EMPLOYEES WHO FEEL VALUED, SUPPORTED, AND LESS STRESSED ARE MORE LIKELY TO STAY LOYAL TO THE COMPANY, REDUCING ATTRITION AND STRENGTHENING THE ORGANISATION’S REPUTATION AS A GREAT PLACE TO WORK”
EMPOWERING THE VISIONARIES OF THE UNITED KINGDOM UNITED KINGDOM
39 December 2024 / ENTREPRENEUR.COM / Empowering Employees The rise of side hustles among employees presents an opportunity for organisations to enhance creativity and drive innovation by SAM KELLY
40 / ENTREPRENEUR.COM / December 2024 S/Innovation I n the rapidly evolving landscape of business and creativity, the traditional lines between work and personal pursuits have become increasingly blurred with studies showing the 9 to 5 is no longer attractive (Timewise 2023 – 87% of workers would like flexible hours). One of the most transformative changes we’ve seen in recent years, is the rise of the entrepreneurial side hustle to fuel personal passions, creativity, and learning. Some leaders may hesitate to support the idea of side hustles, worrying that they may distract employees from their core responsibilities or drain energy that should be focused on the company’s objectives. However, in my experience, the opposite is true. While client work will always be our absolute priority, side hustles offer an opportunity for personal growth, professional development, and an infusion of creativity that can benefit not only the individual but the entire organisation. P ersonal development and a sense of ownership One of the most compel- ling reasons I encourage my team to have side hustles is the profound sense of autonomy that it offers. Side hustles offer an opportunity for individuals to take control of a personal project, fuelling their sense of ownership and personal development. When employees have the freedom to pursue a passion of theirs, it helps them grow in ways that might not be possible within the confines of whatever project they are working on or role that they are in. When someone builds some- thing outside of work—whether it’s a photography portfolio, or writing a book, or starting a community — they learn invalu- able lessons in leadership, problem-solving, and accountabil- ity. For example, Thomas Mullen from our Atlanta team is a bestselling author as well as Jodie Hare in the UK, who also published books, specifically on Autism. Side hustles mean that people are no longer just employ- ees; they become entrepreneurs, better equipped to take initiative and think creatively about their roles within the company. Cross-pollination of knowledge Another important benefit of encouraging side hustles is the development of cross-sectional knowledge and areas of expertise that employees might not get the opportunity to explore in their day-to-day roles. These pursuits allow people to sharpen skills outside of their usual work, making them more well-rounded and versatile. Yann Moszynski and Matthieu Berthalult at AKQA Paris, founded a cycling collective called Les Rookies, which puts more people on bikes by showing a less performance-obsessed side of the sport, and trying to make it more inclusive and welcoming. Similarly, Hugo Veiga, our Global
41 December 2024 / ENTREPRENEUR.COM / Chief Creative Officer is a pop star in Brazil under his alter ego Gohu. Side hustles also allow employees to engage with the world in new ways, giving them a more expansive and diverse perspective. This is especially true for those working in creative industries like ours, where a broader worldview often translates directly into better, more innovative ideas. When people step outside their usual work environment, they are exposed to different business models, customer needs, and cultural trends. Inspiring motivation Motivation is the engine that drives productivity, and creativity is the fuel. Give employees an outlet to experiment, innovate, and engage in creative problem-solving without the constraints that sometimes come with corporate environments. When people are excited about what they’re doing outside of work, that enthusiasm often spills over into their professional life. They return to the office with renewed energy and creativity, ready to tackle challenges with a fresh perspective. In industries like ours, where creativity is paramount, this influx of energy can make all the difference between good work and groundbreaking work. Building a stronger ecosystem of creativity Side hustles also have a unique way of breaking down traditional work- place hierarchies and creating a more inclusive, transparent culture. When employees connect over shared passions—whether it’s music, tech, fitness, or food—they build stronger relationships that transcend their daily work tasks. These personal connections foster a deeper sense of camarade- rie and mutual respect, creating an environment where people feel more comfortable sharing ideas, collaborating, and offering feedback. Trust and transparency Its important for people to manage their time wisely. They shouldn’t be over-working and we have a commitment to their well-being. It also shouldn’t impact their day job and be free of conflicts of interest. We support flexible working hours and agreements at AKQA but our employees are open from the outset. My advice to anyone trying to do a side hustle is to be open about it and don’t try to pretend it isn’t going on. Trust is key and that’s why we put a lot of focus on the characteristics we look for when we hire. In today’s dynamic business landscape, supporting employees’ side hustles is more than just a perk—it’s a strategic advantage. At AKQA, we’ve seen first-hand how these pursuits foster personal growth, cross- pollinate knowledge, inspire motivation, and strengthen our creative ecosystem. While client work remains our top THE FUTURE OF WORK IS NOT ABOUT CONSTRAINING EMPLOYEES’ PASSIONS, BUT ABOUT CHANNELLING THEM TO CREATE MUTUAL BENEFIT” priority, the skills, perspec- tives, and energy our team members bring back from their side projects elevate the quality of our work and the vibrancy of our culture. As business leaders, we have a unique opportunity to harness this entrepreneurial spirit. By creating an environment that encour- ages personal projects alongside professional responsibilities, we can build more innovative, adaptable, and engaged teams. The future of work is not about constraining employees’ passions, but about channel- ling them to create mutual benefit. I challenge fellow leaders to consider: How can you empower your team’s entrepreneurial spirit to drive your organisation forward? Sam Kelly, is the Global Chief Marketing Officer of AKQA. With a passion for design and innovation, Sam is responsible for brand, marketing, and public relations across the family of AKQA companies. Under Sam’s leadership, AKQA has transformed the way clients think about their brand by crafting beautiful ideas, products, and services that captivate audiences. Working with esteemed clients like Nike, Rolls-Royce Motorcars, Netflix, Volvo, and Google, AKQA has earned countless awards and accolades, including 83 Agency of the Year Awards and the prestigious Cannes Lions Grand Prix for Design in 2021 and 2024. Today, AKQA is recognised as one of the world’s leading marketing and design agencies. www.akqa.com
42 / ENTREPRENEUR.COM / December 2024 S Insights }White’s path has not been a linear ascent; it has resembled a roller coaster filled with ups and downs. Unlike many successful entrepreneurs who seem destined for success from a young age, White faced a different reality. “For me, I don’t think I was ever meant to be an entrepreneur. So I probably experienced more failures than many, just finding my feet.” Yet he emphasises that these setbacks have been invalu- able, stating, “Every time I’ve failed, it’s made me a hundred times stronger.” }White’s entrepreneurial journey began at 18 when he launched an events company I n entrepreneurship, failure is often seen as an unwelcome guest. Yet, for Josh White, co-founder and CEO of Cano Water, failure is a critical stepping stone to success. “I still feel like a failure,” White admits candidly, reflecting on his journey. “Embracing failure is one of the key components to success.” IMAGES COURTESY CANO WATER Embracing Failure Josh White, co-founder and CEO of Cano Water, on the unseen benefits of failure in the path to building a business by PATRICIA CULLEN / ↓ JOSH WHITE, CEO and co-founder of Cano Water, leading the charge for sustainable hydration with recyclable aluminium packaging.
43 December 2024 / ENTREPRENEUR.COM / called High Frequency. “It was very successful, but was a complete failure in the end,” he reflects. The company catered to under-18s, but a sudden market shift led to its downfall. “The clubs across the country basically banned under-18 events. Overnight, the company went from thriving to non-existent,” he recalls. }This abrupt end to his first venture was devastat- ing. “It was probably one of the most depressing times in my childhood. I actually ended up in hospital over stress because of it.” Despite this turmoil, White recognises the silver lining. “I’m so grateful that that hap- pened. It taught me a lot about myself and how to navigate difficult situa- tions.” }As he looks back, White acknowledges the resilience he gained from this experience. “It made me a lot more strong- willed as a person. When I started Cano Water, I had already learned so much from that failure.” His journey has taught him the importance of humility, especially in times of success. “I’ve learned to not let that cloud the vision of the business because you can get so excited about these things.” }Today, as he experi- ences success with Cano Water—getting pictures every day of people, including celebrities, holding the product— White remains cautious. “Who knows, like the worst thing can happen in 24 hours. You just never know.” He emphasises the importance of staying grounded in a volatile business landscape, particularly given the looming threats of insolvency in the economy. }Looking back, White believes that his past failures were necessary for his current success. “The person I was when I started Cano Water to the person I am now is a completely different person. The only reason I am where I am today as the CEO of Cano Water is because of the mistakes that I’ve made and the learnings that I’ve had from that.” }This mindset of learning from failure is crucial for any aspiring entrepreneur. “If you’re not learning, then I just don’t think that you’re growing. Sometimes you have to learn from your mistakes.” He urges others to embrace risks and confront the fears of failure head-on. “It’s something that a lot of people don’t talk about. It’s embarrassing to fail, but if you can fight that internal battle with yourself and get away from the embarrassment, that can be the catalyst to creating the best company out there.” }In a world where the fear of failure can be paralys- ing, Josh White’s journey stands as a testament to the power of resilience and growth. He shows us that failure is not the end but often the beginning of something much greater. IT’S EMBARRASSING TO FAIL, BUT IF YOU CAN FIGHT THAT INTERNAL BATTLE WITH YOURSELF AND GET AWAY FROM THE EMBARRASSMENT, THAT CAN BE THE CATALYST TO CREATING THE BEST COMPANY OUT THERE.” ↑ Co-founders of Cano Water, Ariel Booker and Perry Alexander Fielding
44 / ENTREPRENEUR.COM / December 2024 DRIVING INNOVATION Addressing the pressing challenges of affordability and sustainability in the construction sector by PATRICIA CULLEN → MOLLIE CLAYPOOL and GILLES RETSIN, co-founders of AUAR, are pioneering sustainable architecture S Insights / I n a time when housing shortages and sustainability challenges loom large, Automated Architecture (AUAR) - a construction technology startup co-founded in 2019 by Gilles Retsin and Mollie Claypool- emerges from London as a pioneer in innovative building solutions. }Revolutionising housing with automation and innovation With over a decade of collaborative research at University College London (UCL) exploring how robotics, generative design and artificial intelligence (AI) can radically transform building practices, AUAR is more than just another startup; it is a mission-driven company dedicated to reshaping construction. Combining their unique expertise in these advanced technologies, the company is poised to redefine the future of housing. }The genesis of AUAR Retsin reflects on the inception of AUAR, saying, “Mollie has a background as a systems-thinker and activist, whereas I really come from the architecture and technol- ogy side. We both realised academia has its limits in terms of impact, and we had a real desire to do things in the real world.” He goes on to say that himself and Mollie are mission-driven; believing automation is the key to making high-quality, sustainable housing univer- sally accessible. This vision emerged from their years of collaborative research at UCL, where they explored how advanced technolo- gies could revolutionise construction. Initially starting as a software consultancy, AUAR soon pivoted towards product develop- ment. Retsin explains, “We looked carefully at other companies trying to make a difference in construction and then gradually developed our thesis for AUAR as a company that can enable the existing industry to deliver millions of sustainable homes through low-CapEx, pop-up robotic Micro- Factories.” This innovative approach culminated in the launch of their first robotic micro-factory in early 2022. }Overcoming challenges Every startup faces hurdles, and for AUAR, the most significant challenge was securing funding. The transition from consultancy to seeking venture capital was daunting, especially as first-time founders with an academic background in a slow- moving industry. Retsin candidly shares, “As with most startups, the biggest challenge is cash: funding and revenue. We had to convince investors that we didn’t require enormous amounts of capital to reach our next milestones and that we were the perfect team to execute this.” Persistence played a crucial role in their
45 December 2024 / ENTREPRENEUR.COM / success. AUAR secured a £2.6m seed round led by the deep-tech AI fund Miles Ahead, alongside notable partners like ABB’s Robotics & Automation Ventures and Morgan Stanley. Retsin attributes their success to demonstrating their potential, stating, “It was really important for the raise to have the first customers backing us up – they were the proof point that our early assumptions were correct.” Curveballs are inevitable in any entrepreneurial journey, but how leaders respond to them is what truly defines success. Retsin shares a poignant moment from AUAR’s early days: “Both Mollie and I unexpectedly lost a parent. We had each other’s back, and the team also showed up for us. Very tough experiences like this do give you some resilience to other challenges. This also taught us that we need to handle failures and setbacks collectively as a team.” This personal experience fostered resilience, leading to the develop- ment of mechanisms to handle setbacks collectively. Retsin high- lights a crucial lesson learned: “In many cases, a setback can actually leapfrog you forward and turn out better for you in the long run.” }Advice for aspiring entrepreneurs For those considering starting their own ventures, Retsin offers invalu- able advice: “You need to want to solve a problem, have your own mission and purpose that you truly believe in.” He underscores the significance of uniting employees around the organisation’s mission and values, stating, “Be very careful with your choice of co-founder and early employees, and make sure you’re all really aligned on the purpose and culture of your company.” He also encourages entrepreneurs to view their early customers as collaborators, noting that they provide invaluable insights essential for launching and growing the business. AUAR’s ambitious vision is to produce over 100,000 carbon-nega- tive homes by 2030, generating more than £1bn in revenue. Their unique business model, characterised by a ‘No CapEx’ Hardware-as-a-Service, allows home builders and developers to leverage AUAR’s platform without the upfront costs traditionally associated with construction. Reflecting on the secrets to success, Retsin concludes, “Prioritising and focusing is key. Strategy is ultimately just about choosing what to prioritise and focus on. And it can’t be said enough: in the end everything depends on your team.” As AUAR continues to innovate and expand, they invite entrepreneurs, investors, and industry stakeholders to join them in revolutionising the future of housing. With their unique blend of technology and social purpose, AUAR is not just building homes; they are building a better future. BOTH MOLLIE AND I UNEXPECTEDLY LOST A PARENT. WE HAD EACH OTHER’S BACK, AND THE TEAM ALSO SHOWED UP FOR US. VERY TOUGH EXPERIENCES LIKE THIS DO GIVE YOU SOME RESILIENCE TO OTHER CHALLENGES” → The AUAR Multi-Family House exemplifies their pioneering approach to sustainable architecture.
By examining the strategies of success- ful founders, it becomes clear that embracing uncertainty, remaining adaptable, and learning from losses are not just survival tactics—they are essential for driving businesses forward. Entrepreneurs who adopt a growth mindset not only prepare themselves for the inevitable setbacks but also foster a culture that meets uncertainty with resilience and grace. In the insights shared by successful founders, Entrepreneur UK uncovers In The Loop/ I n the unpredictable world of entrepreneurship, resilience has evolved from a mere buzzword into a critical lifeline. Startups often rise and fall not just on the strength of their innovative ideas, but on the unyielding determination and grit of those at the helm. Like the Stoic philosophy of premeditatio malorum—anticipating failure before it strikes—the best entrepreneurs expect setbacks as part of the job. But what separates those who fold from those who flourish is something subtler: a growth mindset. by PATRICIA CULLEN / ENTREPRENEUR.COM / December 2024 46 Cultivating a Growth Mindset: Strategies for Entrepreneurial Resilience
47 December 2024 / ENTREPRENEUR.COM / practical strategies for cultivating resilience and fostering a growth mindset - both essential for navigating the challenging yet rewarding journey of entrepreneurship. PREPARE FOR LOSSES Every entrepreneurial journey is laden with risks, underscoring the need for entrepreneurs to brace themselves for setbacks and view them as essential stepping stones on the road to success. Serge Santos, founder and CEO of the Surrey- based fintech lending platform Funding Alternative Group, embraced the reality that ↑ SERGE SANTOS, founder and CEO of Funding Alternative Group, a Surrey-based fintech lending platform focused on managing risks in the financial sector. lending inherently involves the risk of losing money. “This understanding led me to manage risks more cautiously and accept that losses, while undesirable, are possible and should not come as a shock,” he explains. “By anticipating such outcomes, stress is minimised, and resilience is strength- ened, allowing for a more balanced approach to entrepreneurship.” This proactive mindset not only protects the business but also cultivates a culture of adaptability. Entrepre- neurs who see losses as an integral part of their journey tackle challenges with greater ease, turning setbacks into valuable opportunities for growth. MANAGE STRESS WITH SUPPORT The pressures of entrepreneurship are inevitable, but how one manages them can be the key difference between stagnation and success. Mastering effective stress management is essential for maintaining clarity and focus. PANIC AT THE TOP LEVELS IS CONTAGIOUS AND CAN RUN RAMPANT THROUGH A BUSINESS.” “ → GRAHAM GOODWIN’S extensive experience in the recruitment industry, particularly navigating challenges like the 2008 recession, allows him to offer valuable insights and support to emerging firms in the field.
48 / ENTREPRENEUR.COM / December 2024 Graham Goodwin, co-founder of Leeds-based investment firm Jigsaw Equity, highlights the often-overlooked chal- lenges of leadership. With a successful track record of building a £40 million recruitment business and exiting with an eight-figure deal, he possesses a keen understanding of the resilience required for success. “The change in pressure can be unprecedented, and you will need to find ways to manage stress so you don’t burn out,” he advises. Goodwin emphasises the crucial role of support systems in fostering a growth mindset. “Mentors can help, and trusted family and friends can lend a sympathetic ear.” He further advocates for developing healthy coping strategies: “Be honest with yourself and your team, but retain a sense of calm. Panic at the top levels is contagious and can run rampant through a business. As a leader, all eyes will be on you to provide the strategy and direction.” BY STAYING FIXATED ON A CRYSTAL-CLEAR LONG-TERM VISION, YOU CAN REMEMBER THAT SHORT-TERM PAIN IS EXACTLY THAT—QUICKLY FORGOTTEN WHILE YOU STAY FOCUSED ON THE LONG-TERM VISION.” ↓ Under DIMA KATS leadership, Clear Junction has positioned itself as a vital link between financial institutions and underserved businesses, focusing on enhancing cross-border payment solutions. A CERTAIN LEVEL OF NAIVETY IS ESSENTIAL— IT’S THAT OPTIMISTIC BELIEF THAT DRIVES INNOVATION AND ALLOWS YOU TO TAKE BOLD STEPS WHERE OTHERS MIGHT HESITATE.” “ → Under DAMIAN SKENDROVIC’S leadership, VeUP aims to expand its international footprint, particularly in North America, and continues to build a strong team of industry experts. In The Loop/
49 December 2024 / ENTREPRENEUR.COM / By managing stress effectively, entrepreneurs can not only preserve their mental health but also provide the leadership necessary to navigate their businesses through challenging times. CULTIVATE RELATIONSHIPS In entrepreneurship, community is essential; success is seldom a solitary pursuit. Building strong relationships is crucial for fostering resilience. As Damian Skendrovic, CEO of VeUP -a company dedicated to helping startups scale points out, resilience is bolstered by robust connections and a solid support network. “It is often difficult to get one’s head out of the day-to-day stresses of startup life,” he notes, “but it is imperative to take a step back regularly, reflect, and be kind to oneself about the positives and how far you have come.” Communication also plays a critical role, he adds. “Talking through the successes and failures helps to stay focused on the purpose and core motiva- tions. It can be all too easy to just focus on the failures, as they are the things that cause the most stress and can wreak havoc on your mind.” FOCUS ON THE VISION As challenges mount, keeping a steadfast focus on the broader vision becomes vital for fostering resilience and adaptability. Toby Harper, founder and CEO of Birmingham-based commercial law firm Harper James, which was shortlisted for Growing Business of the Year, emphasises the importance of maintaining a clear long-term vision. “Setbacks, stress, and everything related are always short-term pain,” he asserts, “but by staying fixated on a crystal clear long-term vision in such a way that it consumes your thoughts, you can remem- ber that short-term pain is exactly that, quickly forgotten while you stay focused on the long-term vision.” EMBRACE A POSITIVE MINDSET Optimism is not just a temperament; it acts as a crucial catalyst for innovation, providing entrepreneurs with the confidence to forge ahead. Dima Kats, CEO and founder of Clear Junction, a leading global payments provider based in London, emphasises the importance of balance. “Entrepreneur- ship is often about venturing into the un- known, where the risks are high and the path is uncharted,” he explains. “A certain level of naivety is essential—it’s that optimistic belief that drives innovation and allows you to take bold steps where others might hesitate.” However, Kats insists that this optimism must be tempered with a disciplined approach. “It’s crucial to approach each challenge with meticulous attention to detail and a structured plan,” he advises. “This combination allows you to turn risks into opportuni- ties, navigate setbacks, and maintain your drive, even when the odds seem insurmountable.” Entrepreneurship is less about avoiding failure and more about learning to navigate it with purpose. The founders who thrive are those who see setbacks not as roadblocks, but as part of the landscape. A growth mindset doesn’t just soften the blow of inevi- table failures; it turns them into fuel for future success. As these entrepreneurs remind us, the key isn’t to chase perfection, but to build resilience in the face of imperfection. And in an increasingly volatile world, that mindset isn’t just beneficial—it’s essential. ↓ Under TOBY HARPER’S leadership, Harper James has grown significantly, boasting a team of over 120 professionals and supporting more than 4,500 businesses.
F rom mining Bitcoin in 2013 to running one of the UK’s leading Bitcoin platforms, CoinCorner, Danny Scott’s journey has been fueled by resilience and a deep belief in cryptocurrency’s potential to reshape global finance. Scott stands at the cutting edge of the cryptocurrency revolution in the UK, unveiling insights that offer entrepreneurs a golden opportunity to thrive in the ever-evolving financial landscape. His entrepreneurial spirit was ignited during his early days of mining Bitcoin. The Entrepreneur’s Currency How the CoinCorner CEO is bridging the gap between cryptocurrency and mainstream finance, championing cryptocurrency’s future in the UK. by PATRICIA CULLEN }“My co-founders and I were actually mining Bitcoin back in 2013/14 until electricity costs became too expensive,” he recalled. “By this point, we had learned a lot about Bitcoin and were confident it would play a huge role in the future of finance, so we wanted to find a way to get more involved within the industry.” Recognising a significant market gap, Scott noted, “We believed there was a huge gap in the UK for an easy on-ramp to Bitcoin, which is where we initially positioned ourselves.” In The Loop/ 50 / ENTREPRENEUR.COM / December 2024 }However, Scott emphasised that the path to widespread Bitcoin adoption is fraught with challenges, particularly in the UK. He pointed out, “The categorisation of Bitcoin (and all cryptocurrencies) as a ‘restricted mass market investment’ has created barriers to entry for people.” He stressed the need for a shift in this classification if Bitcoin is to become a viable currency for everyday use. Additionally, Scott highlighted the potential for policy changes, stating, “We’ve also noticed Capital Gains Tax (CGT) breaks on the spending of Bitcoin for goods or services are being considered by countries to encourage greater adoption. Something like this would also go a long way in the UK.” }Scott believes Bitcoin is already disrupting traditional financial systems. “In the first instance, we’re seeing investment monies gravitating towards Bitcoin as opposed to real estate, gold, stocks, and shares,” he explained. He also noted a notable trend: “That includes an → DANNY SCOTT, founder and CEO of CoinCorner, is a key figure in the cryptocurrency industry.
increase in customers selling property to buy Bitcoin in the last few years.” Furthermore, Scott pointed out the advantages of crypto- currency in interna- tional transactions, stating, “Where businesses are used to taking up to five days to make international transfers, cryptocurren- cies are offering an alternative with almost instantaneous settle- ment, and for cheaper.” }For entrepreneurs venturing into the cryptocurrency space, Scott emphasised the critical trait of resil- ience. }“Over the years, we have been rejected by investors, banks, partner companies, and even potential new staff turning down jobs due to the price dropping before they were even due to start!” he shared. He recounted personal challenges, revealing, “I personally have had bank accounts closed due to my status of owning a Bitcoin company, not to mention the amount we have lost as a business due to the lack of appetite from banks and financial compa- nies.” Despite these hurdles, Scott remains optimistic, stating, “Each time you get kicked, you have to be able to pick yourself up and figure out your next steps.” }When it comes to risk management in the volatile cryptocurrency industry, Scott’s approach is pragmatic. “We don’t operate the business on cryptocur- rency prices, so volatility doesn’t come into it for CoinCorner,” he explained. “We focus on solving problems for customers and giving them the best Bitcoin experience possible through the process.” }As the cryptocur- rency landscape continues to evolve, Scott’s mantra resonates strongly with aspiring entrepreneurs: “I treat every issue as an opportunity, as it’s likely that the rest of the industry is undergoing the same challenges – at which point only the strong will survive.” His insights not only highlight the resilience needed in this dynamic sector but also provide a compelling vision for the future, urging entrepreneurs to embrace the opportuni- ties that lie ahead in the world of cryptocurrency. WE BELIEVED THERE WAS A HUGE GAP IN THE UK FOR AN EASY ON-RAMP TO BITCOIN, WHICH IS WHERE WE INITIALLY POSITIONED OURSELVES.” “ 51 December 2024 / ENTREPRENEUR.COM /
52 / ENTREPRENEUR.COM / December 2024 Investment Insights for the Next Generation Veteran analyst Geoff Robinson reveals young investors’ mistakes and his vision for a brighter financial future by PATRICIA CULLEN S Investment / What inspired you to start TheInvestmentAnalyst.com, and what gap did you see in the market? My motivation to start TheInvest- mentAnalyst.com stemmed from a passion for building something innovative and a recognition of a significant gap in the investment market. After thirty years in the industry, I observed that the market for recent training had become increasingly commoditized. This was partly due to consolidation between companies and private equity backing, leading to a focus on meeting revenue and earnings before interest and taxes (EBIT) targets. The problem is that training is inherently not scalable because it requires instructors, and the number of excellent instructors with deep market experience is minimal. As a result, training companies have tried to commoditise their product to build scale, often compromising on the quality of instruction. I saw this reflected in the quality of trained analysts entering invest- ment banks. While these training companies were reasonably good at developing first-level thinkers - ana- lysts who know stuff - they weren’t as effective at cultivating second- level thinkers who can derive and iterate off their base foundation knowledge to build dynamic solutions to evolving markets. It would be valuable to bring my experience as a managing director at an investment bank and a #1 ranked analyst back to education. The goal was to fuse this knowledge with the best technology available, creating a platform that’s both comprehensive and agile enough to evolve with the rapid pace of today’s market. What qualities are essential for the next generation of analysts and investors to develop in today’s rapidly changing market? In today’s rapidly changing market, the next generation of analysts and investors need to develop several key qualities: }Ability to exceed market pace: It’s insufficient to keep up with the mar- ket. You need to be ahead of the curve to stand out and develop views that aren’t in line with consensus. }Fearlessness in the face of the unknown: Don’t be afraid to experiment and take calculated risks. If you fail, learn from that failure and use it to develop improved opportunities. }Desire for continuous learning: Cultivate a habit of continuous learning. Carving out 15 minutes several times a week to learn something new can make an exponential difference over a year. }Adaptability: Be ready to evolve with the market and adjust your strategies as needed. }Critical thinking: Develop the ability to analyse situations from multiple angles and challenge conventional wisdom when necessary. A fter thirty years in the finance world, Geoff Robinson saw something missing in the investment training space. Here, he discusses the pitfalls he sees in the industry, his advice for the next generation of analysts, and how his latest venture aims to fill a much- needed gap. YOU’RE NOT JUST TRYING TO MAKE MONEY; YOU’RE TRYING TO ARTICULATE WHY YOU THINK THE MARKET IS WRONG, IDENTIFY UPSIDE POTENTIAL, AND BALANCE THAT WITH AN UNDERSTANDING OF DOWNSIDE RISK” “
53 December 2024 / ENTREPRENEUR.COM / → GEOFF ROBINSON, founder of TheInvestmentAnalyst. com, pioneering insights for the next generation of investors
54 / ENTREPRENEUR.COM / December 2024 }Time management: Learn to balance execution with continuous learning and development. These qualities will help analysts and investors survive and thrive in rapid market changes. What are young investors’ biggest misconcep- tions about the industry, and how can we address them? One of the young investors’ biggest misconceptions about the industry is that investing is easy, and anyone can do it. This couldn’t be further from the truth. The market comprises intelligent, compe- tent people, and while talent is normally distrib- uted, it’s still an efficient and effective market. You must be exceptionally good, dedicated, and possibly borderline obsessed with your job to compete and beat this market. You’re not just trying to make money; you’re trying to articulate why you think the market is wrong, identify upside potential, and balance that with an understanding of downside risk. This is not an easy exercise. Moreover, success in this field goes beyond just having hard technical skills. High emotional MOST RESUMES LOOK THE SAME AT FIRST GLANCE. FOCUS ON WHAT MAKES YOU UNIQUE. REVIEWING RESUMES, I OFTEN START FROM THE BOTTOM, LOOKING AT EXTRACURRICULAR ACTIVITIES, TRAVEL EXPERIENCES, CHARITY WORK, AND CLUB MEMBERSHIPS” “ S Investment /
55 December 2024 / ENTREPRENEUR.COM / intelligence and solid and soft skills are essential. These allow you to have a closer finger on how the market operates, which you can then compare to your fundamental analysis to identify actionable discrepancies. To address these misconceptions, we need to be more transparent about the industry’s challenges and complexi- ties. Education programs should focus not just on technical skills but also on developing emotional intelligence, critical thinking, and a realistic understanding of market dynamics. We should encourage aspiring investors to gain hands-on experience through internships or simulated trading environments to give them a more accurate picture of the job. What advice would you give young professionals facing challenges in entering the investment field? Breaking into the invest- ment field is challenging due to the high level of competition. With grade inflation and so many good candidates on paper, it’s difficult for recruiters to identify the signal from the noise. Here’s my advice, based on my own experi- ence, for standing out: }Treat job hunting like beating the market: Just as you would articulate why you think the market is wrong when investing, you need to articulate why you’re different and better than other candidates. }Differentiate yourself: Most resumes look the same at first glance. Focus on what makes you unique. Reviewing resumes, I often start from the bottom, looking at extracurricular activities, travel experiences, charity work, and club member- ships. These give me insight into what makes you tick and how you differ from everyone else. }Highlight your unique experiences: Don’t just focus on standard work experience and academic records. Emphasise experiences that showcase your creativity, problem- solving skills, or unique perspective. }Develop a compelling personal narrative: Be able to tell a story about why you’re passionate about investing and how your unique background has prepared you for this career. This can make you more memorable to potential employers. }Network effectively: Build relationships in the industry through informa- tional interviews, events, and alums networks. Continuous learning is key in the investment field. Stay updated on market trends and demonstrate your commitment to the field through self-study, relevant certifications, or personal investment projects. Remember, it’s often the little details that set you apart. Don’t be afraid to let your personal- ity and unique experiences shine through in your application and interviews. What future trends do you foresee in the investment landscape that could shape new entrepreneur- ial opportunities? The most significant trend shaping the investment landscape right now is generative AI. This technology has dramati- cally impacted how we’ve built TheInvestmentAna- GENERATIVE AI CREATES OPPORTUNITIES TO BE MORE EFFECTIVE AND PRODUCTIVE, ALLOWING US TO REDIRECT OUR BANDWIDTH INTO AREAS WHERE AI CAN’T YET ASSIST, PARTICULARLY IN CREATIVITY AND STRATEGIC THINKING. FOR ENTREPRENEURS, THIS OPENS UP NUMEROUS POSSIBILITIES”
56 / ENTREPRENEUR.COM / December 2024 lyst.com, which we’re close to. We’re at the beginning of this evolution. Generative AI creates opportunities to be more effective and productive, allowing us to redirect our bandwidth into areas where AI can’t yet assist, particu- larly in creativity and strategic thinking. For entrepreneurs, this opens up numerous possibilities: }AI-enhanced analysis tools: Developing platforms that leverage AI to spot patterns and conduct complex data analysis faster and more accurately than humans alone. THE KEY IS TO EXPERIMENT, EVEN WHEN IT FEELS UNCOMFORTABLE. IN A CONTROLLED ENVIRONMENT, THERE’S A LIMIT TO HOW MUCH DAMAGE YOU CAN DO BY ASKING QUESTIONS, EXPERIMENTING, AND LEARNING. }Personalised invest- ment strategies: Creating AI-driven systems that tailor investment advice to individual risk profiles and goals. }Improved risk manage- ment: Utilising AI to predict and mitigate potential risks in real-time. }Automated trading systems: Developing more sophisticated algorithmic trading platforms that can adapt to changing market conditions. }Educational technol- ogy: Creating AI-pow- ered learning platforms that can provide personalised financial education. }Blockchain and cryptocurrency innovations: As these technologies mature, there will be opportuni- ties to create new financial products and services. }Sustainable investing tools: Developing platforms that help investors align their portfolios with environ- mental and social goals. The key is to experi- ment, even when it feels uncomfortable. In a controlled environment, there’s a limit to how much damage you can do by asking questions, experimenting, and learning. Entrepreneurs who can effectively harness these technolo- gies while maintaining a human touch will likely find significant opportu- nities in the evolving investment landscape. If you could go back and give your younger self one piece of advice S Investment /
57 December 2024 / ENTREPRENEUR.COM / about building an investment analysis career, what would it be, and why? If I could give my younger self one piece of advice about building an investment analysis career, it would be to celebrate the little wins. This is something I think about a lot. As a younger man, my entire life was about setting targets, achieving those targets, beating those targets, and then immediately looking at the next target. There were numerous events during my 20s and 30s where I should have sat back and felt the warm glow of success, let that dopamine run through my veins, and felt good about what I’d accom- plished. But I generally didn’t do that. I remember when we got ranked number one for the first time at UBS. The following morning, I returned to the office, spoke to my team, said, “Well done,” and then immediately started thinking about how we could do better in the survey we had already topped. That was so foolish. We should have taken a couple of weeks to appreciate and celebrate what we had achieved as a team. I’ve changed my approach to celebrating small wins in recent years. These days, I actively try to celebrate even the smallest victories—success- fully downloading something, completing an article, or getting a piece of content out to the platform. I take a moment to be thankful for these accomplishments. If you do this 20-30 times a day, it makes you feel better as a person. It also makes you act better towards yourself and those around you. It helps maintain motivation and prevents burnout. It also helps you maintain perspective and appreciate the journey, not just the destination. So that’s my most significant advice to my younger self: celebrate the little wins. They don’t have to be big but celebrate lots of little wins. It will make your career more enjoyable and sustainable in the long run. What specific attributes or mind- sets differentiate successful analysts from their peers in the UK market, and how can aspiring professionals cultivate these qualities? In my experience, successful analysts in the UK market possess a unique blend of attributes and mindsets that set them apart: }Technical proficiency combined with strong soft skills: The most successful analysts I’ve worked with had a healthy balance between technical proficiency and excellent soft skills. They were generally good human beings with strong sales skills who could take complex ideas and convert them into digestible informa- tion. }Effective communication: They were typically easy to talk with and fun. These soft skills are vital in building relationships with clients and colleagues. }Work ethic and competitive drive: Successful analysts are often more practical, hardworking, and simply better than the rest. They have a winning mentality and are not easy to beat. }Ability to balance hard work with well-being: While it’s important to work hard, the most successful analysts in the long term know how to balance their drive with self-care to avoid burnout. }Adaptability and continuous learning: They stay ahead of market trends and consistently seek to expand their knowledge and skills. }Critical thinking and unique insights: They can articulate why they think the market is wrong and where upside potential lies while also understanding the downside risks. To cultivate these qualities, aspiring professionals can: }Focus on developing both technical skills and soft skills. Take courses in communication and public speaking alongside your financial education. }Practice translating complex financial concepts into simple, understandable language. }Cultivate a strong work ethic and learn the importance of work-life balance and self-care. }Develop a habit of continuous learning. Stay updated on market trends, new technologies, and evolving financial products. }Practice critical thinking. Don’t just accept market consensus - learn to question it and develop your viewpoints. }Seek mentorship from successful analysts in the field. }Gain diverse experiences—the broader your perspective, the more unique insights you can bring to your analysis. Remember, becoming a successful analyst is about more than just crunching numbers. It’s about developing a well-rounded skill set to understand, interpret, and communi- cate complex financial information effectively. WHILE THESE TRAINING COMPANIES WERE REASONABLY GOOD AT DEVELOPING FIRST-LEVEL THINKERS - ANALYSTS WHO KNOW STUFF - THEY WEREN’T AS EFFECTIVE AT CULTIVATING SECOND- LEVEL THINKERS WHO CAN DERIVE AND ITERATE OFF THEIR BASE FOUNDATION KNOWLEDGE TO BUILD DYNAMIC SOLUTIONS TO EVOLVING MARKETS”
58 / ENTREPRENEUR.COM / December 2024 Building a Climate-Driven Startup Scaling sustainability and navigating challenges in carbon reduction technology by PATRICIA CULLEN S Sustainability / B uffy Price, co-founder and COO of Carbon Re, launched the company to address the urgent need for climate action through innovative artificial intelligence (AI) solutions. In this Entrepreneur UK interview, she shares her motivations, key strategies for scaling a sustainable startup, and practical advice for future founders passionate about making a meaningful impact on the environment. What inspired you to start your business? I was driven to co-found Carbon Re in late 2020 due to a deep sense of dread about the climate emergency and frustration by the lack of leadership and action from global govern- ments in meeting their Paris Agreement commitments. I have been really lucky to have great co-founders and colleagues who are all motivated to make Carbon Re profitable, a great place to work and reduce industrial carbon emissions on the gigatonne scale. What are the key factors that contribute to success- fully scaling a sustainable startup? Start with a fantastic business idea! Carbon Re has built a unique AI-pow- ered software product that enables cement producers to save on fuel costs and carbon emissions today - which is essential if we are going to hit our 2030 emissions reductions targets. }Hire great people. The advantage of building a mission-driven company is that we have been able to attract incredible talent. Move with urgency and work ↑ BUFFY PRICE, co-founder and COO, Carbon Re
59 December 2024 / ENTREPRENEUR.COM / hard. This often means really long days in the office and working weekends. Be willing to roll up your sleeves and don’t be above doing anything. }Always look for ways to improve. At Carbon Re, we really value a positive and constructive feedback culture to help us achieve this. }Have fun and be kind. We built this company to extend earth’s life but ours is still limited. We want to enjoy it. How did you secure your initial funding? Our academic credibility was key to our success in securing our initial funding and Carbon Re is a joint spin out of Cambridge University and UCL. My co-founder Dr Daniel Summerbell completed his PhD at the Institute for Manufactur- ing at Cambridge University and it was his research which under- pins our approach to carbon reduction in cement production, and another co-founder, Dr Aidan O’Sullivan, is an Associate Professor of AI and Energy Systems at UCL. How do you handle failure or setbacks? Failure and setbacks are part of the journey and you can’t be successful without learning how to move past them. Keeping a focus on the company mission has been essential motivation for getting through the difficult times. We have also built an incredible team and culture at Carbon Re and when things get tough it helps to be surrounded by hardworking and motivated people who lift each other up. We are all in this together. What advice would you give to someone starting their own sustainable business? Find people who you trust and can build the company with. It’s really helped me to have an understanding and forgiving partner at home too! Share your tips for achieving success… Carbon Re is still early in our journey so we remain humble about our success so far, but we have reduced kilotonnes of carbon emissions already. }My best tip would be: if you’ve got a great idea, don’t give up. It will inevitably take much more time and energy than you can anticipate to succeed, and there will be low points but, whatever happens to your business long-term, it will be an experience like no other and totally worth it. IT WILL INEVITABLY TAKE MUCH MORE TIME AND ENERGY THAN YOU CAN ANTICIPATE TO SUCCEED, AND THERE WILL BE LOW POINTS BUT, WHATEVER HAPPENS TO YOUR BUSINESS LONG-TERM, IT WILL BE AN EXPERIENCE LIKE NO OTHER AND TOTALLY WORTH IT” “
60 / ENTREPRENEUR.COM / December 2024 A fter witnessing the waste generated by traditional pregnancy tests during her In Vitro Fertilisation (IVF) journey, Lara Solomon, founder of Hoopsy -a London-based company producing eco-friendly, non-plastic pregnancy tests- felt driven to take action against the excessive use of plastic in medical products. Faced with unexpected challenges, including gender-based abuse from investors, she has become a force in sustainable innovation, pushing boundaries while empowering other women in the process. What inspired you to start your business? “I was inspired to start Hoopsy after I went through IVF and saw just how many plastic pregnancy tests women use. The fact that 90% of midstream tests are plastic just horrified me, particularly because you literally only use the test for five minutes. I looked into the market and found that most women prefer to use a midstream test as it is less messy and also on average they use 3 each time they test. All this made me think someone needs to do something about this, and I can’t see that anyone else is going to do anything so I will!” What unique challenges have you faced as a female leader and how did you overcome it? “As a female leader one of the biggest challenges I have faced has been abuse/bullying from male investors in Hoopsy and male investors who I turned down. It was horrendous and totally unexpected. In regards to oncoming it, a lot of it is being the bigger person, telling other female founders and advisors to be wary of the people, while being very particular about who I add to the cap table going forward.” What advice would you give to other women aspiring to enter and succeed in your industry? “To succeed in the sustainable medical device industry I think the biggest thing is double whatever time frame you think you achieve anything in! Sustainable products still frustratingly take longer for consumer adoption than regular Testing the Limits of Sustainability From overcoming gender bias to greening the medical device industry, learn how determination and innovation fueled Hoopsy’s success by PATRICIA CULLEN S Eco /
61 December 2024 / ENTREPRENEUR.COM / products and medical devices have a lot of paperwork.” What’s a common mistake startups make in sustainability, and how can it be avoided? “I think a common mistake in sustainability is thinking carbon offsetting is a fix all, but it is not being sustainable, the first rule of waste management is refuse, ie do not use. Once you take that off the table and look at each part of the business with the lens of refuse, reduce, reuse, repurpose and finally, recycle it will change what you do. Then with what is left look at how it can be done more sustainably.” How can entrepreneurs effectively measure the impact of their sustainability efforts? Entrepreneur’s can measure the impact of their sustainability efforts by first of all making sure that they are actually being sustainable! Then you can measure through the business’s carbon footprint calculation, or a much simpler way is are you using less of x than you were last year, because realistically it is all about moving the needle. If everyone just did a little bit each year it would make a huge difference. Share your tips for achieving success My tips for success are surround yourself with people that get you, who you can reach out to when things are going well or not so well as a support/ cheer squad. Those who understand the journey. Secondly don’t be afraid to ask for help/advice, if you don’t ask you really don’t get! “Entrepreneurs can measure the impact of their sustainability efforts by first of all making sure that they are actually being sustainable! Then you can measure through the business’ carbon footprint calculation, or a much simpler way is to see if you are using less of a given material than you were last year, because realistically it is all about moving the needle. If everyone just did a little bit each year it would make a huge difference.” YOU CAN MEASURE THROUGH THE BUSINESS’S CARBON FOOTPRINT CALCULATION, OR A MUCH SIMPLER WAY IS ARE YOU USING LESS OF X THAN YOU WERE LAST YEAR, BECAUSE REALISTICALLY IT IS ALL ABOUT MOVING THE NEEDLE”
62 / ENTREPRENEUR.COM / December 2024 S Leadership / Resilience in Entrepreneurship Maxine Laceby, co-founder of Absolute Collagen, a Newcastle upon Tyne based company that specialises in collagen supplements, talks about navigating uncertainty, embracing life experience, and empowering women through business. by PATRICIA CULLEN I n a fast-paced and unpredictable world, building a business can often feel like navigating a storm. Maxine Laceby, founder of Absolute Collagen, knows this firsthand. Launching her beauty supplement brand from her garage, with no formal business background, she transformed chaos into a catalyst for growth. “I was going through a major life shift to focus on my inner well-being, and this was a passion project driven by my belief in the product and desire to empower women,” she says. Now, as her company flourishes, Laceby reflects on how purpose, resilience, and leading from the heart became the foundations of her success—and offers valuable lessons for aspiring entrepreneurs. → THE ABSOLUTERS: A community to empower each and every one to feel their best
63 December 2024 / ENTREPRENEUR.COM / For Laceby, staying focused during uncertainty means returning to her “why.” “When things get chaotic, I reconnect with the core purpose of Absolute Collagen and why I put my heart and soul into starting this business: empowering women to embrace their age, their beauty, and their potential,” she says. It’s this mission that has guided her through turbulent times, helping her prioritise and make decisions that align with the brand’s values. From garage to growth Like many start-ups, the early days of Absolute Collagen were defined by hustle and unpredictability. One notable time Laceby and her small team were caught off guard by a surge in demand that could have easily overwhelmed them. “The team, which was tiny at the time, were packing orders from our garage around the clock, fuelled by sheer determination!” she recalls. Instead of seeing this chaotic situation as a crisis, Laceby turned it into a learning opportunity, using it to implement systems that would allow her business to scale. This moment underscored the importance of adaptability and resilience, traits Laceby sees as vital for any entrepreneur. “You will face setbacks, make mistakes, and have moments where you doubt yourself,” she admits. “But life is all about learning, no matter what age you are. It’s about believing in yourself and your product, learning from every experience, and maintaining that forward momentum.” Lessons in leadership The entrepreneurial journey, Laceby says, is about more than just grit—it’s about perspective and learning to take calculated risks. “It’s easy to get caught up in every detail and blow things out of proportion, but this is where you need a sense of perspective and great people around you,” she notes. The ability to step back, assess risks, and trust both her team and her instincts has been critical to navigating challenges as they arise. For entrepreneurs looking to develop a resilient mindset, Laceby emphasises the value of life experience—particularly for women over 40. “My advice to aspiring entrepreneurs, especially women over 40, is to embrace the power of your life experience and never under- estimate your potential,” she says. Laceby points to Absolute Collagen’s recent report, “The Only Way is Up: Feel the Force From Forty,” which revealed that while 81% of women in this age group prioritise personal growth, only 21% feel supported by the business. Her advice to aspiring entrepreneurs is to embrace the power of their community. “Believe in yourself, even when others doubt you,” she encourages. “A standout memory for me is when I still didn’t get a call back from my bank even when my business had a turnover of £10 million. To this day, I believe this was fuelled by stereotypes around my age.” But these barriers have only strengthened her resolve. “Remember, resilience isn’t about avoiding setbacks, it’s about getting back up, learning from your experiences, and continuing to pursue your vision with passion and determination.” Laceby’s journey with Absolute Col- lagen is a testament to the power of resilience, intuition, and a clear sense of purpose—lessons that any entrepreneur can take to heart, regardless of their industry or stage of life. IT’S EASY TO GET CAUGHT UP IN EVERY DETAIL AND BLOW THINGS OUT OF PROPORTION, BUT THIS IS WHERE YOU NEED A SENSE OF PERSPECTIVE AND GREAT PEOPLE AROUND YOU” “ → MAXINE LACEBY, co-founder of Absolute Collagen, empowering women through business
64 / ENTREPRENEUR.COM / December 2024 In The Loop/ What is Dyslexic Thinking? The dictionary definition of Dyslexic Thinking is: ‘An approach to problem-solving, assessing information, and learning, often used by people with dyslexia, that involves pattern recognition, spatial reasoning, lateral thinking, and interpersonal skills.’ Dyslexic brains process information differently. Our neural pathways are different from someone who is not dyslexic, meaning we literally think differently. This gives us a pattern of valuable strengths, which are called Dyslexic Thinking skills. Why companies must embrace this unique cognitive approach. by KATE GRIGGS The Hidden Strengths of Dyslexic Thinking in Business O nly 1 in 5 Dyslexics believe their workplace understands their strengths: how leaders can better understand Dyslexic Thinking skills – and how to leverage them For decades, Dyslexic Thinking has been respon- sible for some of our greatest inventions and businesses - from the iPhone to Virgin, DreamWorks to the aeroplane. Yet this kind of thinking has rarely been measured or treasured by traditional workplaces. In fact, only 1 in 5 dyslexics believe their workplace understands Dyslexic Thinking. But we are now entering the 5th Industrial Revolution, a world powered by human intelligence and machines. AI has learned to aggregate and recall knowledge faster and better than humans, making the skills that AI cannot replicate, like innovation, lateral thinking and interpersonal skills, critical for success. And these skills are inherent to one particular group of people... dyslexics. → KATE GRIGGS, founder and CEO of Made By Dyslexia has dedicated her career to shifting the narrative on Dyslexia and educating people on its strengths
65 December 2024 / ENTREPRENEUR.COM / There are 6 Dyslexic Thinking skills and most dyslexics are a combination of these, rarely all: 1/ Visualising – interacting with space, senses, physical ideas and new concepts 2/ Imagining – creating an original piece of work or giving ideas a new spin 3/ Communicating – crafting and conveying clear and engaging messages 4/ Reasoning – understanding patterns, evaluating possibilities and making decisions 5/Connecting – understanding self, connecting, empathising and influencing others 6/ Exploring – being curious and exploring ideas in a constant and energetic way These skills are vital for business success in the 5th Industrial Revolution. Research from the world’s largest recruiter, Randstad Enterprise, as featured in Made By Dyslexia’s Intelligence 5.0 report, finds that Dyslexic Thinking skills are the most in demand skills in every job, across all 9 major job sectors, globally TODAY. Dyslexic Thinking and Entrepreneurship Dyslexics make great entrepreneurs (40% of them are dyslexic in fact) and can turbocharge any business. Here’s how: 1/ We are imaginers and visionaries who see new possibilities Our Dyslexic Thinking skills of imagining and visualising help us to dream and think big. We see what could be, not what is. This helps us to innovate in ways that others often couldn’t conceive possible. In the world of business thinking differently gives you a competitive edge. Creative thinking comes naturally to dyslexics, which helps us to spot gaps in the market or solve old problems in innovative new ways. 2/ We are big-picture thinkers who keep things simple Dyslexics are brilliant at using their reasoning skills to see the bigger picture and simplify things. This allows dyslexics to make connections across complex issues, subjects and data, which others don’t see. It also helps us to cut through the noise and take a ‘helicopter view’ rather than getting stuck in the detail. AI HAS LEARNED TO AGGREGATE AND RECALL KNOWLEDGE FASTER AND BETTER THAN HUMANS, MAKING THE SKILLS THAT AI CANNOT REPLICATE, LIKE INNOVATION, LATERAL THINKING AND INTERPERSONAL SKILLS, CRITICAL FOR SUCCESS” “ ↑ KATE GRIGGS' best-selling book, This Is Dyslexia, published by Penguin
66 / ENTREPRENEUR.COM / December 2024 In The Loop/ OUR DYSLEXIC THINKING SKILLS OF IMAGINING AND VISUALISING HELP US TO DREAM AND THINK BIG. WE SEE WHAT COULD BE, NOT WHAT IS. THIS HELPS US TO INNOVATE IN WAYS THAT OTHERS OFTEN COULDN’T CONCEIVE POSSIBLE” “ 3/ We embrace failure, making us super resilient and persistent Dyslexics are not afraid to fail. And they’re good at bouncing back fast, seeing their failures as an opportunity to learn. Dyslexic thinkers also naturally have a growth mindset, a willingness to just give it a go and see where it takes you. The willingness to fail means we build up a high level of resilience quickly and become skilled at finding workarounds to problems when we face them. 4/ We are passionate questioners – we don’t accept the status quo Dyslexics are curious and questioning, using their Dyslexic Thinking skill of exploring to build businesses that are fuelled by our passion and curiosity. We love to ask, ‘What if?’ and ‘Why not?’, and find ways to disrupt and challenge the status quo. And when it comes to customer experience we are motivated to go the extra mile. 5/ We are ‘people’ people – great leaders, team builders and empathisers Because of their strong connecting skills and heightened emotional intelligence, dyslexics are adept at motivating, leading and inspiring people. Being aware of our weaknesses and the need to focus on our strengths, we also become expert delegators. This in turn builds and empowers great teams who are all encouraged to lean into their strengths. Empowering Dyslexic Thinking in every business Our Intelligence 5.0 report found that as a result of AI, the type of intelligence the world needs has changed. Entrepreneurs and organisations need to learn more about Dyslexic Thinking skills and empower them, because this is exactly the type of new intelligence needed to thrive alongside AI. That’s why we joined forces with Sir Richard Branson, a proud Dyslexic Thinker himself, to launch the world’s first ‘University of Dyslexic Thinking’. Dubbed ‘DyslexicU’ and housed on Open University, this innovative learning platform is for anyone with a curiosity to learn more about the skills so relevant to our new AI-powered world. Launching with a course on entrepreneurs, these short, one-hour long courses will eventually cover a wide range of professions, helping you to learn about Dyslexic Thinking and understand why and how it turbo-charges success across different industries (and how you can adopt this thinking too). Because when organisations understand Dyslexic Thinking, they can support dyslexics and non-dyslexics alike to thrive, driving business success in the process. Kate Griggs is the founder and CEO of the global charity Made By Dyslexia, host of the Lessons in Dyslexic Thinking podcast and the author of This is Dyslexia - New Edition.
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