IN this week's SME Focus the experience of a veteran business builder shows how Scotland's entrepreneurs are willing to learn from each other.

Name:

Gordon Adam.

Age:

54.

What is your business called?

Peachy Mondays Ltd.

Where is it based?

We're a virtual business, with headquarters just outside Stirling.

What does it produce, what services does it offer?

An online employee feedback platform featuring a survey builder and a 'Conversation Manager' which lets organisations anonymously ask follow on questions, based on how their employees respond. We think it combines the depth of focus groups with the speed and reach of online surveys.

It was developed to make staff engagement surveys more useful and clients are finding it also helps with organisational challenges when any type of change is required. For example, Dundee and Angus College reviewed their whole academic management structure with 80 busy senior academics in 6 hours.

Whom does it sell to?

Our original product suits organisations with up to1000 employees, but we're just about to launch our Enterprise edition, which has features for larger complex corporates - and we are already talking with businesses of over 20,000 employees. G1 Group, Scotland's largest leisure operator, will be the first business to use the Enterprise version, with over 2,000 employees.

'Early adopters' have ranged from tech companies, housing associations, colleges, charities, restaurant chains and a global oil company. Recent enquiries include a major California based multinational, and a global energy company.

What is its turnover?

We've only been charging for a few months so it's early days. We operate a software as a service model so the service is accessed via the internet and our first target is £50,000 per month. We also get consultancy revenue from clients; Peachy Mondays enables a change of HR processes.

How many employees?

The business is driven by its two founders at present, along with a number of partners who deliver specific expertise and help us reach an extended client base. We are looking to hire just now.

My business partner James Anderson has an entrepreneurial track record developing innovative technology solutions, as well as being an expert in data and analytics, so the combination of the two of us works well. We outsourced the product development to Dunfermline based Planys, who continue to provide support.

When was it formed?

2012, but was reborn in 2014 when we changed our business model.

Why did you take the plunge?

I've taken a number of plunges! I've got an entrepreneurial background in the recruitment industry (bricks and mortar and online), having founded and sold a number over the last 20 years.

One day the HR director of a large high street bank told me what kept him awake wasn't recruitment, but retaining employees and keeping them happy, motivated and productive. And it got me thinking...

I wanted to go back to being innovative and pioneering, so left my old business Head Resourcing at the end of 2013 to focus on Peachy Mondays - it had been a side project before that.

What were you doing before you took the plunge?

My original career was chemical engineering management but it never suited me, so I moved into technical recruitment at the age of 29, working for Search Consultancy in their early days from 1990. It was a great entrepreneurial company then but by 1995 I knew it was time to be my own boss, so co-founded Direct Resources, an IT recruitment business which we sold to a Nasdaq listed IT service company in 1999 and also RecrutmentScotland.com which was Scotland's first job board which we sold to Monster.com in 2000.

There have been a few not so successful 'experiments' along the way, but since then I was mainly MD of Head Resourcing which I co-founded in 2002. But we had first class managers so I was getting a bit stale and didn't fancy doing the same thing until I retired. We did a share back-back in November 2013, giving me a great opportunity to build a business.

How did you raise the start-up funding?

We are self-funded, with some support from Scottish Enterprise. Once we start to get more traction, we will decide whether to raise external finance to support growth. Our overheads are virtually zero but we are very aware that to grow, we will need to hire a number of staff, rent offices and invest in marketing, so the next 12 months will be full of decisions!

My ideal investor would be someone who can also provide a route to market, whether that's a commercially focused individual who wants to be hands-on, or a consultancy business who can use Peachy Mondays to help their clients and extend their own business.

What was your biggest break?

We actually started our business as an employer comparison website (a Trip Advisor for employers) but couldn't figure out how to get traction. Nigel Eccles, CEO of the Fanduel fantasy sports business, who had very successfully 'pivoted' their business model, gave me advice and sent me a copy of The Lean Startup by Eric Ries. This brought home to me the need to get it right by experimentation before investing heavily. Looking back I'd say this was a defining moment, it stopped us plunging too far down the wrong route. Too many start-ups think they have a good idea, spend all their money then fail before having the opportunity to really discover what's going to drive them forward.

What was your worst moment?

In April 2014 we realised that the first version the platform just wasn't right, so we halted development and started again from scratch.

What do you most enjoy about running the business?

The success of the business rests largely on the decisions I make along with my co-founder; even though it's not my first business it's still nerve racking, but it serves to keep me focused and passionate.

What do you least enjoy?

Start-ups are exciting but difficult to build momentum; I'm used to having people to do things for me! For the moment I am customer support, head of sales and marketing, bookkeeper and consultant - it's hard wearing so many hats!

What are your ambitions for the firm?

We believe that if we can add value to organisations and make employees happier at work, the rewards will come - I've got high growth global fantasies, but if it becomes just a successful national business I can live with that.

What are your five top priorities?

Really help make people happier at work; continue to develop Peachy Mondays and add new features; build our marketing capabilities and customer base; find like-minded people to join the business, and have fun!

What could the Westminster and/or Scottish governments do that would help?

Our Scottish Enterprise contact has been very helpful, but it is difficult to unlock the right support. We were encouraged to ask for a bigger grant at the start but I wanted to prove the concept first before spending public money, now that door is closed for the time being.

What was the most valuable lesson that you learned?

Surround yourself with good people whom you can trust.

How do you relax?

I used to be a bit of a runner but mountain biking is my latest adrenalin rush and for pure relaxation I've never outgrown my enthusiasm for listening to music of all sorts.