JKR

William Kendall

The ‘non’ entrepreneur

Platform met again last Tuesday when our speaker was William Kendall, former owner of New Covent Garden Food Co. and Green & Black’s.
 
William’s journey to entrepreneurship took a few initial detours via the army, the legal profession (as a barrister) and the banking sector. Having completed an MBA, William was on the look out for his next career move, deciding to invest in the then bust New Covent Garden Food Co. After becoming CEO, he revived the business achieving a turnover in excess of £20million. He sold the company in 1998 and then invested in Green & Black’s - a brand in which he saw great potential but was underperforming as a business. Having helped turn Green & Black’s into a household name, it was sold to Cadbury for an estimated £20million in 2005.

 
With one of the sharpest eyes for spotting a business with great potential but not much form, here are some key tips from William on how to identify a good investment:

1.     Can you see a half decent idea?

Knowing nothing about the market, the category or any of the detail, does the principle at the heart of the business make sense? Sounds simple enough but in order to invest, you need to be motivated by the core idea.

2.     Good structural margins

Does the business have the potential to deliver good margins? Theoretical workings are not enough.

3.     Is there evidence that the business is working?

Can you find examples of the business performing well? There needs to be some proof that the model can work. A good Rate of Sale is critical to ensure that longer-term success is achievable.

4.     Do you want to work with the people?

The old adage that people buy people springs to mind. Can you foresee an enjoyable and rewarding working relationship? A willingness to listen and learn is vital.
 

Platform has a Christmas break in December so our next event will be on 17th January 2012 when our speaker will be Vincent McKevitt, Founder of Tossed. If you’d like to come along, email Amy at amymaw@jkr.co.uk and she’ll get you onto the guest list.