Vivify is a startup that stands out due to its investors, including Bill Currie and former Tesco CEO Sir Terry Leahy. In 2022, the tech firm raised £1m from Arete, which was a testament to its high-profile investors. Russell Teale, CEO of Vivify, feels blessed to have such investors. He will be sharing his insights on how to distinguish a perfect investor from a poisonous one at a business breakfast on April 18th.
According to Teale, a poisonous investor makes entrepreneurs feel subservient, scared to be honest, and encourages them to take more money when not necessary. They are less interested in the business and do not add value in board meetings or outside of them. In contrast, a perfect investor is characterized by advanced funds, complimentary portfolio, and industry experience.
Teale believes that money is great for any startup, but with funds come expectations, and the real essence lies in the trust and support that accompany the funds. He asserts that the ideal investor comes with trust, room to maneuver, patience, and partnership. ROI takes time, and making the founder comfortable promotes the above traits.
Industry experience is helpful, but it can also be a hindrance. Investors who have invested in a specific vertical or industry may not have relevant experience for the entrepreneur’s product. A perfect investor arranges for genuine intros that can hasten routes-to-market and provides valuable insights. They have industry expertise that can increase margins, conversions, or help with the recruitment process.
An investor with a similar portfolio may not always be relevant to the entrepreneur. The perfect investor trusts the entrepreneur, empowers them to make decisions, and adds value to enable them to ask for advice. Furthermore, they provide opportunities for honesty, guidance, and the ability to deviate from the original plan.
Vivify CEO Russell Teale is one of several confirmed speakers at the Sanderson Recruitment event, which is being held in conjunction with BusinessCloud. The event will be hosted by events host Chris Maguire and will feature a panel of entrepreneurs and investors. Rory Cameron, co-founder and CEO of Gendius, Ste Senior of Aibytech, Sam Royle of SoSquared, Glyn Powditch of Dream Agility, Elizabeth Gooch MBE, David Levine of Manchester Angels, and Laura Sissons of YFM are among the confirmed speakers.