I remember being a teenager drawing logo’s for my big umbrella company which was to be called ‘Benny Business’ (don’t ask, it’s a nickname) in my school journal. I never envisioned myself working for a company, I would always see myself as my own boss. When in Year 11 I failed Business Studies, and in Year 12 failed Economics, I still did not doubt that I would build my own company from scratch. I saw those failures as purely academic, nothing to do with what I could accomplish outside of the school walls.
During sixth form, my Business BTEC teacher managed to get Damon Buffini into the school to talk to us about how he created his multi million pound investment business Permira. I remember sitting listening to him with sweaty palms because I wanted to be one of the students to ask a question. As the Q&A rolled around, I bravely put my hand up to ask my most favoured question to ‘successful’ people “What has been your biggest regret?”. Although it sounds quite pessimistic, I always think I could gain invaluable knowledge of what not to do when I finally start out. His response was probably the best I’ve ever heard. He said one day his business partner and he were having a terrible day, people kept coming in looking for investments but none of them were worth pursuing. He said to his partner “the next person who comes in, just tell them not today, we’re not in the mood”. To his utter regret, that next person who they turned away without even listening was Sir James Dyson.
Having failed in everything business up until this point, he made me realise that everyone makes mistakes and not everything that you need to learn can be taught academically. Starting a business, being in business and surviving in business is an experience that you figure out as you’re on the journey as it will differ for everyone. I still remember that day as the first day that I thought I’m going to give it a go in the world of business for real and not just fantasise about it. There are two lessons there: one from Damon’s perspective to not lose hope as you never know what’s around the corner, and one from James Dyson’s perspective to never give up when people say no.
Both of those lessons have come in handy already on my short entrepreneurial journey. I’ve had days where it all doesn’t seem worth it, but then something great happens, and I’ve had knockbacks where people don’t believe in the product. These cannot be condensed into a university module, nor written in a business book because you have to experience them for yourself. It’s been seven years since that talk by Damon, and I’m excited for the next seven years. Maybe it’ll be me giving the talk and being asked what my biggest regret was. One thing is for sure - it’ll have nothing to do with losing hope or giving up.
Until next time,
Em x