COMING UP FAST: A Section for Entrepreneurs - Decisions - Stuart Marks - NavTrak

COMING UP FAST: A Section for Entrepreneurs - Decisions - Stuart Marks - NavTrak - MY BEST ... 'Some people might say I sold my first business (direct marketing firm Handling Solutions) too soon. I got pounds 10 million for it in 1994 and, if I'd hung on,

by ANDREW SAUNDERS
Last Updated: 31 Aug 2010

MY BEST ... 'Some people might say I sold my first business (direct marketing firm Handling Solutions) too soon. I got pounds 10 million for it in 1994 and, if I'd hung on, it would probably be worth pounds 100 million today. But my strength is spotting business opportunities, not managing them. That first deal gave me the confidence and financial security to go out and do it again. I've been involved in three start-ups in the past 10 years and intend to stick with my current business, NavTrak, for a while. Its flotation this month will raise some serious money. But if I got a good enough offer before the IPO, I'd sell.'

MY WORST ...

'Not getting good professional advisers early in my career. I didn't think I needed big (and expensive) lawyers or accountants. But I'm a dominant personality and need strong people to tell me when to stop and think.

My first lawyer made me realise that cheap advice can be expensive in the long run. Now I have a great lawyer and Apax, our corporate finance advisers for the flotation of NavTrak, have been worth every penny. I turn to them all the time for advice and they've made some useful introductions.

The fact that I am paying a lot of money for their services makes me more inclined to listen.'

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Subscribe

Get your essential reading delivered. Subscribe to Management Today