Recruitment & HRInvestment

What are the secrets of sustainable growth?

Founders must decide how much equity to give away, according to one expert, while several attendees at MHA Moore and Smalley‘s recent roundtable said hiring is also key.

A panel of entrepreneurs and industry experts attended the exclusive discussion at Exchange Station in Liverpool, which was hosted by BusinessCloud executive editor Chris Maguire.

  • Mo Aldalou, program director, Baltic Ventures

“Every startup will hit a fork in the road at some point and will have to decide between having a smaller piece of a bigger company or a bigger piece of a smaller company but ultimately it’s a choice. Do I want to own a larger share in a business and grow it organically or do I want to raise funds, double down, increase my chances of being first to market and living with the fact you’ll be diluted?”

  • Raina Heverin, co-founder, Supplywell

“Be mindful around hiring. Don’t grow too fast. Take your time and understand what’s essential in terms of growing your team.”

  • Jen Fenner, co-founder and managing director, DefProc

“The best advice I could give is not to rush your growth and make sure of what you’re offering and how you’re going to get there. Equally, it’s about making sure you don’t over-stretch your team and yourselves and try and maintain a good work / life balance as well.”

  • Dean Ward, co-founder, Evoke Creative 

“Be humble enough to know when to bring someone else in. That could be the owner, CEO, or wherever. You need to identify that to achieve the next stage of growth might require someone else.”

ADHD, dyslexia and autism won’t stop me building £100m business

  • Andy Kent, chief executive, Angel Solutions 

“People and a good business are key. Being able to plan and having the right intelligence to be able to make informed decisions are also very important.”

  • Madina Barker, director / owner, CNC Robotics

“Understand your skills gap and identify what skills you’re going to need in order to be able to scale up. If you can’t get those skills, work out how you’re going to grow that capability inhouse.”

  • Andy Feeke, partner & head of corporate finance, MHA Moore & Smalley

“For me it’s about focussing on the infrastructure required for growth – and infrastructure includes people. Equally, document your growth plans clearly by modelling scenarios, to ensure stakeholders – current and potential future stakeholders – understand your strategy and buy-in to your plans.”

  • Kevin Marren, managing director, Eccleston Homes

“It’s about people and having people who can do better things than you at certain things and you’ll be able to overcome those issues that are particular to your business.”

  • Antony Shimmin, chief operating officer, director and co-founder, Mycardium

“I think there are two secrets to sustainable growth. One is hiring people who are better than yourself right across the business.  The second key is to continuously model your finances in the short, medium and long-term.”

  • Lorna Green, CEO, Lyva Labs

“Know what your route to market is and bring in the right people and the right funding for you at the right time.”

Choosing the right investment for your business

  • James Duffy, COO & co-founder, Flare

“Keep burn rate low and bring in better people than you when you recruit.”

  • Vincent Vernon, director, Oil Salvage

“Work hard, work smart , don’t regret anything when you get to 56.”