AgencyNXD has launched a feature where we ask our talented team of non-execs a few brief questions about how they got to where they are and what they believe they can offer our growing pool of ambitious agencies.
The latest in this series is Sri Sharma. Sri began his working life as a consultant before believing he could do as well if not better. Two start-ups and two subsequent sales later, he's achieved a lot but he remains an enthusiast and is keen to work with our growing roster of agency bosses and owners as best as he can. Read more and connect if you feel he might be able to help you.
You began your (work) journey as a consultant with Accenture. Are there any stand-out learnings you picked up there for your subsequent journeys as an entrepreneur/agency founder
Yes! I think starting my career in management consulting was a fantastic training ground for me. I was consulting to communications and technology companies in the UK, US, France and the Netherlands. I learned how different very successful businesses operate, how to work in a super fast changing environments and how to consult effectively to businesses.
Leaving and starting my own first agency, these were super valuable skills.
What prompted you to make the switch from consultancy to launching your own agency
I decided that I couldn't see myself as a partner long term in a large corporate. I decided to go back and study in a field I am passionate about: climate and energy. I was accepted to study Energy Policy at Oxford. Along the way, I had a side hustle as one of the first users of Google Adwords in the UK.
I dropped my intention to study and instead moved to entrepreneurship!
Running a business can be lonely. How did you reach out for advice when you felt it could be useful
Boy can it be lonely, especially as a sole founder.
I looked for guidance from my family and consultants. They were all useful. When I eventually took on a non-exec director, the benefit was having someone who had actually been on my journey and reached the goal I was shooting for. That meant the advice was more valuable.
Also I felt like I had someone who had my back more than a quick one off chat. I definitely think getting different perspectives is always helpful but having someone who has done what I was doing and had been successful was hugely valuable.
Did you always plan to sell/exit your agency/ies and why private equity exits rather than trade sales
At the start of my first business, I didn't have a clear goal except to build a business and a successful one!
During my first business, I wanted to see what other professional adventures I could embark on, so when opportunities came to me to sell, I explored them.
In my second business, we were clear that exit was the plan and private equity was a clear target. I've been lucky enough to have two crazy rides and build both a tech enabled agency and a SaaS business, growing to 100 people, winning fast growth awards like The Sunday Times TechTrack (#16) and Deloitte Fast 50. And both times exiting to billion dollar private equity buyers.
Building, managing and ultimately exiting an agency requires several different skill-sets. What advice can you share with ambitious marcomms/digital bosses who also seek to grow and sell their businesses
Be clear on your direction, keep innovating, get good at selling, invest in a winning team, take advice, enjoy the journey!
All of this requires revision and course correction.
I'd love to help ambitious Founders, CEOs and leadership teams win in this great adventure!
