TRUE POTENTIAL: UNITED KINGDOM Winner of The Business of the Year Award with t/o €26m-150m in 2016/17 European Business Awards sponsored by RSM
True Potential is one of the fastest growing financial services organisations in the UK. Currently working with almost 20% of the UK market, their client-facing investment technology is revolutionising wealth management. www.tpinvestor.com
1. What does it mean to you to win the European Business Award?
Winning the European Business Award was a genuinely humbling experience from a personal point of view for everyone involved in getting True Potential to where it is today. For more than a decade we have been revolutionising the way people save and invest. Winning this award is vindication that good businesses can do a lot of social good.
2. Has it changed anything for your business - will it change anything in the future?
In the short term it has already been a hugely motivating experience to continue our mission to tackle the UK Savings Gap. We have been inundated with congratulatory messages and it will certainly raise awareness of what we are doing and how we run our business. Going through the process required us to stop and take a good look at the firm. That was a very useful experience and has helped us to refine some of our operations.
3. What did you gain from going through the Awards process?
True Potential is, and always will be, a very entrepreneurial business. When we see good opportunities, we take them and try to avoid over-thinking things. Going through the awards process brought home to us just how much we have achieved, the campaigns we have led and the support we are giving to a number of Government projects. It was a real eye-opener to see how big we have become and the scope of our influence.
4. Did the networking opportunities during the completion allow you make any new relationships/contacts/partnerships or clients?
Absolutely. At every stage it was fascinating to meet other firms across Europe and hear about their businesses, successes and challenges. We will be keeping in contact with many participants and hope to do businesses with some of them.
5. Would you recommend other businesses in Europe to apply? If yes why?
Without any doubt we would recommend it. The whole process was extremely professional and well organized. As well as being an excellent way to raise your profile, it is also a very effective way to strike up partnerships with other firms and access new markets to help you scale up even further.
There are many industry, sector and regional awards out there and quite often it can be hard for fast growing firms to enter them all. What makes the European Business Awards different is the scale – over 33,000 firms entering from 34 countries. It’s important because it gives you a chance to see how you compare to firms across Europe. That’s a bigger challenge so it’s even more satisfying when you win it
6. What top tips would you give to a new company regarding:
- the entry form: It’s natural to want to write your business life story but our advice is to keep it relevant and focused. Put your best foot forward.
- the video: Entertain! A great video should engage people. It should make them want to watch to the end and find out more about your business, what you do and why you do it.
- the public vote: Help people to help you. Your employees, their families and friends will all want to help you succeed. The public vote is their opportunity to support you so make sure you tell them about it.
7. What is the key to your success?
Skin in the game. When you are personally, financially and emotionally invested in your own business, it’s actually hard not to succeed. It’s what makes you go the extra mile. You feel what your customers feel and you know first what is working and what isn’t.
8. What is the greatest lesson you have learnt in business?
Get started and don’t give up. There are always bumps in the road and growing a firm from scratch is not a smooth, straight path. But as long as you have focus, the right products and people, you’ll make it if you don’t give up.