Scott Weavers-Wright is a serial entrepreneur. When we had him on last year (Episode 12), we only managed to discuss one of his first exits so we had to get him back for more.
We pick up his story from where we left off, with Scott getting into investing with his business partner Fred. He explains how this led to him first funding the creation of, then running, Elevaate – a platform that allows online stores and brands to manage and monetise product placement.
We discuss the challenges that this brought, many of which were different from his previous business. We consider the need for managing the company prudently when there is money in the bank. We also talk about keeping staff motivated when sales and business are slow to appear and why the company took venture capital funding. Scott also talks about how he raised the company’s profile and how this helped generate interest for an exit.
Finally, we chat about the lessons Scott has learned, include the need for patience and belief, and how he applies these to his investing.
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Scott Weavers-Wright, cofounder & partner at Haatch Ventures, is best known for founding one of Britain’s largest e-commerce businesses, Kiddicare.com, which was subsequently acquired by Morrisons. Reaching sixth on the RetailWeek Power List, Scott is regarded by many as one of the UK’s most innovative business professionals in retail. Founding Haatch, Scott has invested in, and developed businesses in the areas of ad tech, B2B Saas (software as a service) and retail tech within the FMCG market, including Elevaate, founded in 2014, enabling supplier monetisation programs across retailer websites.