In this podcast episode, host Rob Lawrence interviews Scott Russell, a serial entrepreneur with 34 years of experience founding, growing, and selling businesses.

Scott shares his journey from childhood ventures to building national companies, highlighting the importance of delegating, building strong teams, and fostering authentic, mission-driven cultures towards growing a business.

He discusses lessons learned from both successes and failures, the value of empowering others through equity, and the founder’s unique role.

Scott also highlights his social impact work in coffee supply chains. He offers practical advice for entrepreneurs and founders: reminding us to focus on innovation through improvement, prioritise getting the organisational culture right, and to approach business as a long-term and rewarding journey.

In this episode you'll learn:

Introduction & Scott’s Background (00:02:00) Scott introduces himself, shares his entrepreneurial background, and discusses his family’s influence on his business mindset.

Early Entrepreneurial Lessons (00:03:08) Scott describes learning business basics as a child, selling goods, and being a disruptive thinker in school.

Philosophy on Growing Businesses (00:04:34) Scott explains his approach to business as a vehicle for freedom, the importance of setting achievable goals, and replacing himself early.

Delegation & Replacing Yourself (00:05:22) Scott discusses the value of stepping back, building leadership teams, and avoiding micromanagement to enable business growth.

First Hire & Early Business Story (00:07:19) Scott shares a story from age 16 about leveraging others’ skills, scaling a jewellery repair business, and planning for business exits.

Mindset Shifts for Founders (00:10:34) Scott talks about coaching founders to delegate, reverse engineering goals, and the evolutionary process of changing mindsets.

Building Company Culture (00:13:49) Scott explains how to instill an ambitious, positive culture, using practical examples such as charity days and empowering employees.

Opportunity vs. Vision in New Ventures (00:17:28) Scott describes how he identifies business opportunities, applies past learnings, and thinks about new ideas and teams.

Hiring & Attracting Talent (00:21:00) Scott discusses the importance of making roles attractive, being mission-led, and how good companies naturally attract good people.

Building Networks & Reputation (00:24:53) Scott shares how reputation, storytelling, and handling failures shape his network and attract collaborators.

Biggest Challenges in Business (00:27:43) Scott reflects on his discomfort with raising external capital, preferring organic growth, and the challenges that come with it.

Proudest Successes & Legacy (00:29:42) Scott highlights the lasting culture in his companies and the impact of his coffee business’s social initiatives.

Letting Go & Equity Sharing (00:33:16) Scott explains when and how he hands over operational control, the importance of equity sharing, and empowering key hires.

Knowing When to Quit an Idea (00:35:42) Scott shares a story about ending a business that lacked traction and how to recognise when to move on.

Final Advice for Entrepreneurs (00:37:04) Scott shares how enjoying the journey, being realistic, and knowing when to pull the plug can be key parts of the growth mindset.

Top Tip for Business Growth...