We’re super excited that David will be joining us for our Fundraising Checklist webinar so as a prelude we thought we’d interview him and find out about the many projects he’s been involved with and what makes him tick.

Tell us a bit about you?

I left school at the age of 18 and went straight to work. I have spent 45+ years working. For the bulk of it working full time in marketing services, founding my own company, and for the last ten years or so helping other people start theirs in a broad range of sectors. Be it as a Chair, mentor, adviser, investor, or ‘wingman’. I am married with three sons and two grandchildren.

Tell us a bit about the businesses you’re currently working with, what stages are they at?

I currently work with five businesses. Helping a digital creative business to maximise their earn-out having been an original (and only) investor and Chairman from day one (ten years ago). Chairing a language analytics business that has had four rounds of fundraising and is flying. Two new start-ups, the first a chatbot ad product that has just gone to market and is about to raise its first round of investment and the second, a programmatic barter business that is aimed at SMEs and is about to launch. All of these I have invested in. I own a large stake in a motorsport business that has grown tenfold over the eight years I have been involved. I also mentor (and have invested in) a new second-hand fashion business and a CEO of a charity.

What would you say are the critical things for a start-up to have?

A start-up needs to have a great idea that is relevant and scalable. It needs to be revenue-generating and not reliant on unreliable revenue streams. Most importantly it needs a well-balanced team with a range of skills. It must have a passion for what it does and a belief in succeeding. It must also have a level of ‘can do’ optimism and be prepared to work ridiculously hard. It needs stamina.

Tell us about raising money?

It’s very hard to raise money and really unpredictable. Most young businesses are unprepared for the fundraising process. Most are inexperienced in this arena and are up against people who know how to get the best deal. But, it’s so important to get these deals right. It will shape the future of the business and the next investment rounds. An early mistake just gets bigger and bigger as the rounds go by. There are lots of good examples of well-managed investment relationships. Start-ups need to make sure they are one of them.

What would you have done differently if you could?

I am not really a person who looks back. I try to always look forward. I am a bit of a ‘done that, what’s the next challenge?’ person. I guess I could have stopped and enjoyed a few of the achievements a little more.

Start-up culture seems to have become a bit of a roller-coaster, what’s your view?

Start-up culture is a bit of a merry-go-round. If you ask today’s twenty-somethings what they want to do, they will normally say they want to start their own business. Twenty years ago they would have said they wanted their boss’s job. The market now expects people to start their own businesses. And the market wants the preferred model to involve raising money or taking on debt. Not surprising given that the market expectations are driven by the investment community. So the pressure to have an idea, get it to work, raise funds and grow it fast feels like a real ride that goes around and around.

Do you think raising money is an indicator of business success, if not what is?

Raising money is an indicator of potential success, not business success in itself. If you are taking investment then the only measure of success is how much money your investors make. That’s all they will measure you buy. It’s not wrong just the reality. 

What do you do for fun?

In recent years I have fulfilled a lifetime ambition of becoming a racing driver. With some success. In normal times I travel to go fly fishing and watch cricket. I also love live music, particularly in small venues, and will pretty much travel anywhere to see Pearl Jam live. I also love spending time with my grandchildren.

Who was your hero in media, anyone you looked up to, followed, etc

To be honest I was always told never to meet your heroes. So my heroes were not really in media. I respected people like Frank Lowe and Chris Ingram for breaking the mould. I have been lucky enough to have John Bartle (founder of BBH) as a mentor for many years. My heroes are the unreachable film-stars and sports personalities.

And a one-liner to promote your book?

Preparing for the fundraising process is so important. It’s a proper journey with lots of bear traps. Looking /asking for help and advice is not a weakness it’s a strength. My book, The Money Train: 10 things young businesses need to know about investors, helps young businesses to prepare for that journey. Available on Amazon and all good book outlets.