skip to primary navigationskip to content

LESSONS FROM A FOUNDER: Steve Marsh - 6 Ways to Grow Your Business

last modified Nov 04, 2018 09:39 PM
We met with Steve Marsh, Founder and CEO of GeoSpock; originally a student from Manchester who arrived in Cambridge to study his PhD, before developing his business idea into a flourishing reality

GeoSpock has developed a solution using geospatial intelligence to explore extreme data sets, which illuminate valuable insights into the world around us. The company has been making waves in the press, most recently by announcing a partnership with Tamoco, a global network providing businesses with access to real-time data.

 

Read on to find out Steve’s 6 Ways to Grow Your Business:

 

  • COMPANY VISION. Have a clear vision of what you want to achieve before you establish a company. 

Without this it is hard to convince people to follow you. Steve has had first-hand experience of this when working for a student start-up company where the CEO had no real vision and took advantage of the engineering talent he was employing. As a founder you have to lead by example, and with confidence and enthusiasm in the vision.

 

  • MINDSET. Persevere. 

Steve has several examples to illustrate when resilience and determination has proven to be effective. One which is particularly metaphorical is when he attended a Microsoft Lecture during his PhD, he entered a raffle to win a smart phone. Fifteen names were read out with no takers – they had already left. Steve was the sixteenth name and he won the phone. Lesson: If you stick it out, it might just pay off in the end! 

 

  • MENTORING. Find an experienced mentor 

Find a mentor who can leverage experience and help you to find other people who can deal with the different aspects of running a business. Steve met his mentor Darrin Disley at the CUE business competition awards. Despite not winning the main awards, Steve won the Young Entrepreneur of the Year award; with Darrin seeing his potential early on, which eventually lead to helping him with founding the business.

 

  • CUSTOMERS. Talk to your customers. 

It can be very easy to hide away from the world and focus on the technological aspects of the company. Steve joined the start-up accelerator Techstars, which emphasised the importance of this. Part of the programme was ‘Mentor Madness’ which involved talking to 80 mentors in 2 weeks, who challenged GeoSpock in a big way. Criticism is hard to take, but essential if you want to succeed. If your customers are not interested in your product, work with them to develop a product that suits them. Customers are your biggest source of intelligence.

 

  • MARKET. Don’t be afraid to focus on a niche. 

Execute that niche really well, but also ensure you are solving a wider problem. Prioritise the short term commercial wins but keep an eye on the long-term market.

 

  • RECRUITMENT. Hire people who are better than you at different things. 

This is key in the development of your business, Steve recognises his own strengths and weaknesses so was able to recruit to fill any skills gaps. A positive company culture is not to be taken for granted, through Steve’s own experience he has found that you shouldn’t be afraid of hiring in experience – especially if you’re a first-time founder, and you should also hire people that have the resilience and adaptability to get through the challenging times.

 

Read more about GeoSpock here 

RSS Feed Latest news

LESSONS FROM A FOUNDER: Taking Your Technology to Market with Scott White from PragmatIC

Mar 14, 2019

Scott White, ideaSpace alumni and serial entrepreneur is CEO of PragmatIC. PragmatIC produces sheets of flexible integrated circuits (FlexICs), extending the reach of electronics into markets unfeasible for silicon for reasons of form factor and/or cost. Printed electronics is one of the world’s fastest growing technologies, representing enormous potential in interconnected devices. In recognition of British Science Week, we spoke to Scott about the company’s journey from a technology-based concept to the production of commercial products, and asked his advice about taking a new technology to market.

LESSONS FROM A FOUNDER: Basics of Building a Business - IP with Christian Bunke

Feb 28, 2019

With the next B3 event coming up in the next few weeks, we thought we’d take a look back at some previous B3s and learn more about what it takes to build a business. But first – a bit about B3. Our Basics of Building a Business event, or B3, is hosted by a Founder who has successfully scaled their business. They invite the three people who proved vital in helping them along the way to share what they did, how they did it and so much more on what you need to do to go from start up to scale up. Late last year Adam Durant, CEO of Satavia and alumni of ideaSpace, was our guest founder for the evening and invited along Christian Bunke of Basck - an IP Firm focused on working with startups. Here’s what he had to say…

Spotlight on Mursla

Feb 03, 2019

Cancer is one of the most challenging global issues an entrepreneur could choose to tackle. But Pierre Arsène and Victor Serdio are doing just that with their company Mursla. Based at ideaSpace West, Mursla is developing a breakthrough technology for early cancer detection using liquid biopsies, offering a less invasive and more responsive approach to diagnosis, treatment and cure. To mark World Cancer Day on the 4th February, we asked Pierre to explain more about Mursla and the bold ideas and enthusiasm driving this bright company.

LESSONS FROM A FOUNDER: What's Your 2019 Startup Goal?

Jan 30, 2019

For many of us, a new year often starts with an optimistic resolution to change – join the gym, write a book, travel perhaps. But if you’re running a startup, January is a great time to assess your company’s development and set fresh goals for the coming year. We asked four founders at ideaSpace to reflect on progress and share their area of focus for 2019.

GeoSpock Lands £10 Million in Additional Funding 

Jan 09, 2019

ideaSpace alumni and extreme data specialists, GeoSpock, have secured an extra  £10 million in funding. The latest round was led by Cambridge Innovation Capital (CIC) jointly with Parkwalk Advisors and Japanese firms Global Brain and 31Ventures. Japanese data tech company KDDI Supership joined as a strategic investor. Investment was also secured from existing investor, Jonathan Milner.

View all news