WHAT are the most important attributes of a successful entrepreneur? Many would probably talk about the importance of confidence and determination. And they wouldn’t be wrong.
According to Stewart McGrenary, however, a less obvious personality trait is also key, particularly when you are just starting out: the ability to thrive on chaos.
The 37-year-old believes this was one of the things that helped him build tech recycling expert Plunc.com from a one-man operation in his parents’ loft to its current position as a multi-million pound operation dealing with around 15,000 mobile phones, tablets and laptops a year.
“If you are the type of person who needs everything to be neat and tidy, who needs to know exactly what is going to happen, then launching a start-up is going to drive you mad,” explains Mr McGrenary. “Starting a business isn’t like school – you can’t just find the answer at the back of the text book. Ultimately, you’re on your own.
“I’ve always been quite comfortable with messiness. I’m not a planner and that’s served me well.”
It has indeed. The entrepreneur was an injured professional volleyball player when he spotted a gap in the market to recycle and re-sell mobile phones a decade ago.
A decade on, Plunc.com tops customer ratings lists and operates almost entirely through Amazon, upping its global reach in the process. But Glasgow is still home for the expanding business, which employs seven staff in its city-centre office and distribution centre.
And after growing such a successful business from scratch, its managing director now can’t imagine working for someone else.
“I’ve always had a good grasp of maths and the ability to able to work out quickly whether something is a good deal,” he says. “I’ve always enjoyed technology and getting a bargain. The business brings all three things together.
“I tried the corporate world on a graduate scheme in London but left after just two weeks - I knew right away it wasn’t for me. Some people talk about the fear associated with starting a business from scratch. I had the fear of spending 30 years working for someone else in a job I didn’t enjoy and had no control over. For me that was really scary.”
Mr McGrenary moved his sporting focus from volleyball to weightlifting and says having autonomy is one of things that keeps him motivated.
“I like controlling my own destiny and it follows that when you run your own business the rewards are more proportional to your efforts.
“I get to determine what my working day looks like and that allows me to train at lunchtimes, or whenever else it suits me. I try and let the guys in the office do the same. There’s no need to do a strict nine to five as long as we get the work done.”
Indeed, the Glaswegian believes it makes good business sense to offer his staff opportunities to grow and augment their skills.
“The best experiences I’ve had is in terms of staffing is people coming in at the bottom and creating their own role,” he says. “I like them to build and evolve their own jobs. One of my staff members started packing boxes but used to spend spare time working on the website. He’s now our lead developer. People are happier and more fulfilled when they are challenged, and the business gets the benefit of this, too.”
Apart from advising people to allow themselves to go with the chaos, Mr Grenary believes it’s important to move swiftly from the dream stage of setting up a business to reality.
“The fantasy of what your business is going to be like is very different from the reality,” he explains. “You might as well get that blind optimism out of the way quickly. Most people don’t want to tarnish that fantasy, but you have to get started and go through that process so you reach the point where you know what your business is actually going to look like.
“I also always say that if the business idea you have couldn’t have existed 10 years ago, there’s a good chance it’ll work.”
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