Interested in starting your own entrepreneurial journey in finance and investment but unsure what to expect? Then read up on our interview with Stephen Clapham, Founder of Behind the Balance Sheet, located in London, UK.
What's your business, and who are your customers?
We are an investor training consultancy. Our customers range from serious private investors to some of the world's largest and most successful institutional investors, managing anything from a few hundred million to hundreds of billions, and we even have a few clients with trillions of assets under management.
Tell us about yourself
I am a former partner and head of research at two multi-billion hedge funds. When the last fund I worked for closed, I decided to work for myself and to put my decades of investment experience to good use by helping others improve their skills.
What's your biggest accomplishment as a business owner?
I think what gives me the greatest satisfaction is when one of the students in my online school writes to tell me that they have benefited. Many of my students are retired because they have sold a business or are of a certain age. I also have a lot of young graduates who are keen to break into asset management (or have just found a role and want to improve their skills). I love it when someone achieves that dream job and then writes to thank me for helping them. Often it's not just acquiring the skills; It's their gaining confidence that has persuaded an employer to give them a chance. Each time that happens, I get a huge satisfaction that I have helped someone achieve an ambition that could change their life.
What's one of the hardest things that comes with being a business owner?
I have made the transition to being a business owner towards the end of my career, so the financial pressures are not as acute as they might have been if I had done this 20 years ago. But after getting a salary for many years and wondering how big the bonus will be, I now start each year with a pretty small order book which won't be enough to pay the bills. So at the start of the year, I wonder how it will pan out. So far, it's been fine, but my business is based on discretionary spending - nobody needs to take my training. So my revenues are highly dependent on the level of the stock market. That can be quite volatile, of course.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Make sure you have a plan.
- Technology is something you have to master - you cannot run a business today without a website and internet advertising, and SEO. You need to understand all the technological issues.
- Keep going. Businesses inevitably have setbacks. Persistence is a vital quality.
Where can people find you and your business?
Website: https://behindthebalancesheet.com/
Facebook: https://www.facebook.com/behindthebalancesheet
Instagram: https://www.instagram.com/behindthebalancesheet
Twitter: https://twitter.com/steveclapham
LinkedIn: https://www.linkedin.com/company/behind-the-balance-sheet
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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