Our latest growth conversation is with Richard Greathead. Richard is a director of Blackpool-based Nutrition Group Plc, the fast-growing international food supplement and health product manufacturer.
He has overseen a number of acquisitions by the company and in 2013 led a merger of three companies into the Nutrition Group to coincide with a major multi-million pound expansion of the company’s production facilities in Blackpool. The company raised turnover to £10m last year.
What is the biggest challenge you faced when growing your business and how did you overcome this?
The biggest challenge when growing our business was getting the right people in place. The most valuable assets in any business are its people, and it took a while to get the right mix of skills, and personalities to really create focused and motivated team.
What qualities must a growing business owner possess to be successful?
An owner of a growing business needs to be driven, resourceful, display strong leadership qualities, and be thick skinned.
What top tip would you give to a business owner embarking on a growth plan?
Spend a lot of time and effort planning and considering all of the things that could go wrong and have a back-up plan for those possibilities. You need to get your management team on-board and revved up, as they will also be putting in the hours, normally on top of their day-job.
Which entrepreneur do you admire and why?
I think the R&B artist Jay-Z is great example of an entrepreneur. He was born in a bad part of town in Brooklyn and has overcome all the stereotypes of being a young black man in America, and is now one of the most recognisable artists and brands in the world.
The other businessman I would love to meet is Arnold Schwarzenegger. His energy and positivity is infectious and his book Total Recall is very insightful about his entrepreneurial abilities.
Why is Lancashire a great place to grow a business?
Lancashire is a great place to grow a business because we have a long manufacturing history, and the people have some of the brightest commercial minds in the country.
Why are you supporting Boost Business Lancashire?
Because I want to see other businesses in the area grow. Successful businesses have a hugely positive effect on the local community and the people they employ.
Find out more
To find out more about Boost Business Lancashire, and to start your growth conversation complete our online form or call 0800 488 0057.