Sara Davies identifies the “greatest step” in growing a multimillion-pound company.
SARA DAVIES MBE is best known for her position as a Dragon on Dragon’s Den, and she’ll be appearing in the new series of Strictly Come Dancing. The entrepreneur recently reflected on the “greatest move” she had taken in her successful business career.
Sara Davies MBE is a significant British business success story. She founded Crafter’s Companion, a craft supplies firm, in 2005 while still in university and has grown it into a multimillion-pound business. According to Insider Growth, Davies has a net worth of £37 million.
She shared the biggest step she took on her way to the top during a recent visit on The Ambition Accelerator podcast.
“It was just me when I first launched the company. And I wore my heart on my sleeve, drove at 100 miles per hour, and went with my gut,” she explained.
“However, most decisions were still within my control to deliver, and as your company grows, you’ll find yourself making decisions for staff employees to do things, which is a whole different situation because they’re no longer under your control.
“Because my husband is an accountant and we are like chalk and cheese on opposite ends of the spectrum, everything for him was measured, meticulous, and thoroughly thought out.
“We made a decision when he joined the company three or four years into our adventure, but we’d go through the process of looking, making sure we turned over every stone, and evaluating the risk.
“So, throughout the years, I guess I’ve just learned that in the business, it’s now the two of us making decisions, not just me on my own.
“I can anticipate what he’ll ask me before I walk in to present my case on something, so I’ve factored that into my decision-making process.
“Now I can make decisions as swiftly as I usually have, with the added bonus of including everything he would consider. Previously, I assumed that if something felt right, it must be right, but that isn’t always the case.”
Davies added that while her gut instincts served her well in the early days of the company, she has had to adjust as the company has expanded.
“I’m a bit of a knucklehead. “Brinkwire Summary News,” says the narrator.