It was our last Breakfast Club of the season and we were joined by established Welsh entrepreneur, Simon Powell. Simon is currently the chairman and investor of four businesses in the travel and technology sectors, as well as the Managing Director of Powell Property Developments LTD, Founder of Travel.co.uk and CEO of Comtec Group. He has a wealth of experience, not only in setting up successful businesses, but also in turning around struggling businesses.
Simon began by stressing that, when setting up a business, it’s important to define what people want from it in terms of success. From something small and simple like running a successful corner shop to owning a fast car or becoming a billionaire, he believes that success is relative and what is most important is that people can define what it means to them and have a chance of achieving it.
He went on to list the things that he has done throughout his business career that most helped him to achieve his own success, in particular sharing equity. Simon recommended Finance Wales as an investor, but also advised potential entrepreneurs to share equity with their employees; “I think it is important to share equity, not just with financial institutions…but with the teams that are going to drive things.”
Simon also emphasised the importance of putting together a strong team to work together on the business, and making decisions quickly, fixing any wrong ones as soon as possible. He admitted that there are ‘no straight roads in business’ and that there will be bad days, but the important thing is to remain focused. He sees that his role in all of his businesses is to create opportunities, push through decisions, and make and maintain relationships.
Simon is passionate about finding the next generation of talented young people to work in technology and highlighted the importance of working with schools to help inspire children to pursue a career within the tech industry. In particular, he talked about the huge potential within Wales and Welsh schools to produce skilled tech professionals, but emphasised the fact that not enough is being done to achieve this with current tech courses not tailored to business.
The Breakfast Club Emilio Estevez Judd Nelson Molly Ringwald Poster Print 3