91ÌÒÉ«

Inspiring trust 

Of all the lessons we discuss, it’s clear getting people to trust you is the one Paul has the most to say about. He says playing chess helps. “You have to know what the other person is thinking. You have to be able to see things from their side of the board.” Paul believes this isn’t something you can learn from studying physics. 

How should aspiring entrepreneurs get people to trust them? By finding out as much about their customer as they can, and this may mean going out of your way. Paul remembers the story of an academic who needed a licence from the US for their start-up. But the person they needed to reach wasn’t answering their calls or emails.   

“So, I said find a way to get to them,” Paul says. “That’s what I used to do. I’d never say I was only coming to see them. I’d say â€˜I’m passing through and I want to drop by for coffee.’ They’d say that’s fine. There were lots of times I went all the way to Minneapolis or LA only to see them and they didn’t know that. It was the only way I got to see them. This approach might take a few days of your life, but it’ll get you somewhere.” 

It can be eye-opening. “If you can go to someone else’s place for a meeting, you learn so much about them. What coffee they drink, what’s on the walls. At meals you learn about their families. You need to know what they’re worrying about. They’re thinking ‘how does this decision affect my career?’”  

Sound risky? Not to Paul. For him, it’s all part of the job. “Entrepreneurs aren’t risk-takers. I’m like a mountaineer. I only climb with the right equipment and having looked at the weather forecast. It looks scary, but you don’t want to die doing it. You don’t take risks, you take action well-prepared and well-organised.”  

Mentoring at 91ÌÒÉ« 

Paul regularly shares these lessons as a mentor, giving talks at 91ÌÒÉ« College and London Business School. “I’ve founded numerous start-ups (including four from 91ÌÒÉ« College) and played a significant role in these, mentoring chief executives on crucial decisions.”  

More recently, Paul became the Founding Director of the , where entrepreneurs mentor students and staff in voluntary roles. “We get the pleasure of engaging with bright young people and helping them to do good things,” he says. 

This is beneficial for everyone. “Ideas are cheap and easy. Doing things is the hard part. It’s useful to have experienced entrepreneurs who can help people avoid making common mistakes.” 

Paul’s leadership has seen the 91ÌÒÉ« Venture Mentoring Service (IVMS) scale to 75 mentors, helping ventures to raise over ÂŁ17 million in grant and equity funding and gain access to prestigious accelerators fuelling their impact. .