David Pattison: Funding fundamentals and mixing art & science in business
The Business Leader PodcastShow Notes
The world of investment. The confusing old boys club - or at least that's the perception. Is that a fair characterisation? In this episode, we talk to a renowned chairman and non-executive director who's literally written the book about the world of investors.
David Pattison cut his teeth in the world of advertising and has now become one of the UK's leading voices for young businesses. A graduate of Harvard Business School, David has been on all sides of the M&A process, including leading two exits with significant multiples, managing mergers, building international networks, working with private equity and venture capital, fundraising, acquiring businesses and running large multi-country P&Ls. His new book The Money Train explains everything founders need to know about investors and is a must-read for business leaders.
Here's what we discussed:
How did your time at Harvard Business School set you up to be an entrepreneur? (01:00) Is intuition a big part of what makes a successful entrepreneur? (06:02) What was the experience of scaling your own business like? (10:03) Should entrepreneurs think about their exit strategy when they are starting? (15:07) What is the most common or biggest mistake entrepreneurs make? (18:00) Say an entrepreneur has just set up a business – how can they know which type of investor to seek out? (21:50) What are the most common challenges businesses have in investment and how do they overcome it? (25:45) In your book, you distinguish between a rational and emotional investor – what differentiates these two types of investors? (29:59) Can a business that goes through the process of due diligence before an investment become a better business? (33:59) How can people effectively scale their business and achieve funding during a recession? (36:33) Answer the Internet: Why do people invest in making businesses when they would probably get a better return and far less hassle with even a conservative diversified stock portfolio? (41:10)
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