Entrepreneurship

Reflections from my perspective: A brief overview of how I got to where I am – Darryl Eales

11 February 2020

Reflections from my perspective: A brief overview of how I got to where I am

Coupled with being a prolific private equity investor, Darryl is also one of the UK’s most understated change makers. During the E2E Leaders Breakfast at the House of Lords with Lord Karan Bilimoria CBE, DL, we had the privilege to meet and hear from Darryl Eales as he shared his business and entrepreneurial reflections.

10 Primary Drivers to Success

1) Restless curiosity
In life you should never think you got the answers, you should never stop being curious, and you should never stop asking questions. The solution to most problems comes from ensuring you are asking yourself the right questions that lead you to an answer.

2) Understand the fundamentals of business
Anyone who is running a business looks at, what cash do I have coming in and what cash do I have coming out of the business. If the first one is more than the second one, then you are generally happy. But, if the second one is higher than the first one, then you have got a problem; you have to understand that.

3) Surround yourself with trusted people
In any enterprise or anything you do, make sure your infrastructure, systems, and controls are scalable from day one and that they are ahead of the size of the business. Invest in people and infrastructure, and make sure they are fit for purpose.

4) Your attitude
Whether its sport, business, academia or the military, the context is vital and often different; the fundamentals to success are often shared. There are no silver bullets of achieving success as there are multiple ways, but they have to sit in with you. It’s generally about you and your attitude.

5) It’s a journey, not a destination
Life, business, sport, or whatever it is, it’s a journey, not a destination. Often people forget to enjoy the journey. You have to enjoy the journey!

6) You need a structure and a framework
No plan survives first contact with the enemy. You can plan all you like, but as soon as you go into the office, something else happens. You need a structure, you need a framework, but not a straight jacket.

7) Appreciate others
Say ‘Thank You’ to people.

8) Your character
The road to success is relatively rarely a straight line. It will test your character.

9) You need discipline
Alongside patience, the other thing about building a business is that you need structure and discipline. Lack of rules and structure is not the same as freedom. In business, you have to have boundaries, discipline, and structure. It needs to be a playing field that excites; you got to give your people the opportunity to test boundaries within the context of the business.

10) What is your sense of purpose?
What are you prepared to sacrifice to be successful? You can’t have everything, something has to give way somewhere. With a clear sense of purpose and willingness to put in extraordinary effort, you can create organisations that are amazing and it is all about the people.

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