74 min listen
How I Failed: “We were like a cockroach company, we wouldn’t die”, with Founder Steven Renwick
How I Failed: “We were like a cockroach company, we wouldn’t die”, with Founder Steven Renwick
ratings:
Length:
17 minutes
Released:
Dec 8, 2022
Format:
Podcast episode
Description
What happens when your business pivots so much you end up in a completely different industry?
Steven Renwick founded Satago, a platform that helps businesses get paid faster, in 2012. It was actually one of the first companies to raise money on the equity crowdfunding platform Seedrs.
Whilst it started out as a way to crowdsource data about when companies were getting paid and use that to make real time credit reports, Steven had to pivot the business multiple times, meaning it went from a technology to a finance business.
The more the company grew, the more they needed investment, plus Steven was now in an industry he had no experience in. They raised nearly £3 million in total. But, in 2017, Steven had to try to sell Satago after it became insolvent.
What went wrong? Listen to find out.
If you have any feedback, we’d love to hear it. What would make the show better?
hello@secretleaders.com
Sponsor links:
quickbooks.co.uk/secretleaders
Steven Renwick founded Satago, a platform that helps businesses get paid faster, in 2012. It was actually one of the first companies to raise money on the equity crowdfunding platform Seedrs.
Whilst it started out as a way to crowdsource data about when companies were getting paid and use that to make real time credit reports, Steven had to pivot the business multiple times, meaning it went from a technology to a finance business.
The more the company grew, the more they needed investment, plus Steven was now in an industry he had no experience in. They raised nearly £3 million in total. But, in 2017, Steven had to try to sell Satago after it became insolvent.
What went wrong? Listen to find out.
If you have any feedback, we’d love to hear it. What would make the show better?
hello@secretleaders.com
Sponsor links:
quickbooks.co.uk/secretleaders
Released:
Dec 8, 2022
Format:
Podcast episode
Titles in the series (100)
Moonpig: Nick Jenkins and the £120m card company: Nick Jenkins is the founder of Moonpig.com - the wildly successful personalised E card company that sold for £120m to photo printing giants, Photobox in 2011. More recently he’s been an avid angel investor which saw him becoming more of a household name every sunday night as a dragon on BBC1’s Dragon’s Den. As both his own seed investor, and a sole founder - he shares his unique journey from startup to exit, and we learn about his background, and indeed how he got started on the founder ladder.But it wasn’t all smooth sailing - like many, he’s failed along the way, and he also went all in with 100% of the money he’d made in his career. by Secret Leaders with Dan Murray-Serter