Open Banking and Beyond: Kieron James on Innovation and Leadership - Built to Finish - Episode # 018

Built to Finish

Curious about scaling a tech startup, planning an exit strategy, managing remote teams, and growing a business?

Kieron James is a seasoned entrepreneur with over 30 years of experience in launching and scaling successful tech startups. Kieron shares valuable insights on exit strategies, emphasizing the importance of planning for an exit from day one and keeping organized records for a smooth due diligence process. The conversation also covers the challenges of evolving leadership teams as companies grow, as well as the differences between remote work and traditional office environments.

Kieron also talks about his current company, Wonderful — a platform that utilizes open banking to make charity donations and small business payments more affordable and accessible.

Whether you’re an entrepreneur or interested in the tech startup world, Kieron's experiences and advice will inspire you. Plus, get a sneak peek into his future plans, including participating in the New York Marathon!

Takeaways:

• Maximize Exit Strategies: Plan your exit from the beginning by maintaining a database with all necessary documents for due diligence. This proactive approach saves time and reduces stress when selling the business.
• Always Be Organized: Keep your corporate governance, contracts, and other essential documents well-organized and easily accessible. Being prepared helps you handle unexpected opportunities or challenges smoothly.
• Utilize Technology: Streamline business processes with technology, from digital document storage to advanced payment systems. This increases efficiency and reduces manual work.
• Be Transparent: Foster trust and alignment by maintaining clear communication with your team, especially during critical phases like due diligence or company restructuring.
• Clear Career Trajectories: Ensure your team has clear career growth paths. Regularly communicate opportunities for advancement to keep them motivated and aligned with company goals.
• Leverage Open Banking: Adopt open banking solutions in the payment sector to reduce transaction costs and improve payment process efficiency, benefiting both your business and stakeholders.
• Adapt to Remote Work Benefits: Embrace remote work's benefits, such as increased productivity and access to a global talent pool. Consider hybrid models or occasional in-person meetings for effective collaboration and team bonding.

Quote of the Show:

• “ One of the bits of advice that I give people is even before you start thinking about setting up a business, if your plan is long term to exit, be thinking about that on day one.”

Links:

• LinkedIn: https://www.linkedin.com/in/kieronjames/
• Company Website: https://wonderful.co.uk/
• Personal Website: https://kieron.net/
• Podcast: https://kieron.net/tag/podcasts/

Ways to Tune In:

• Spotify: https://open.spotify.com/show/1ghmiiaRwVtQ9kqqqvmVQY
• Apple Podcasts: https://podcasts.apple.com/us/podcast/built-to-finish/id1781753842
• Amazon Music: https://music.amazon.com/podcasts/665cacbf-79ed-4745-8856-1d8465943c65
• Podchaser: https://www.podchaser.com/podcasts/built-to-finish-5907037
• YouTube: https://youtu.be/6LOrT_UQIrI