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Yes. One of our values is transparency, so we always try to understand their commercial ambitions first. We then build a compliance strategy that addresses that and allows them to bring their products to market without fear of enforcement for non-compliant products.
What is your opinion on inflation and interest rates? Will you pass that on to your customers or let your margins drop and reward customer loyalty in these more difficult times?
No. We offer a retained service that acts as an extension of their business. We have no plans to increase our prices due to inflation.
How often do you review the data you bring in and focus on your KPIs, and why?
Our data is constantly under review due to the various moving parts within compliance. It is essential that we keep our finger on the pulse of any regulatory changes and communicate them to our customers as quickly as possible.
Does technology play a much larger role in the daily management of your company?
Yes, we have invested heavily in proprietary software. Having our own software is not only a USP, but also allows us to complete tasks in a fraction of the time it would take a human to complete them. It means that we keep both our workforce and our costs low. Our goal is to provide an outsourced compliance department at a fraction of the cost that an in-house department would have.
What is your attitude towards your competitors?
We do not concern ourselves with our competitors. We just focus on our swim lane and strive to be better than before. Competition then becomes irrelevant.
Do you have any advice for anyone starting out in business?
Expect the road to be bumpy, and when a problem arises, it doesn’t impact you as much as you would expect it to be smooth sailing. Make sure you have enough money to cover costs as you build your reputation, and building that reputation will take you three to five years.
It can be a lonely and pressurized place as the company’s leading decision maker. What do you do to relax, recharge and sharpen your focus?
I learned transcendental meditation shortly after I started the company. It was a game changer for me. It made me realize that I wasn’t good at everything and that I needed to outsource everything I wasn’t good at and focus on what I was good at. TM still plays a role in my life and keeps me relaxed and focused.
Do you believe in the 12-week working method or do you make much longer planning strategies?
No, it’s not something I follow. I’m actually a workaholic and I go hard all the time. I don’t use schemes or best practices to grow the business, although I’m at the point where I’m bringing in the staff that focuses on that so I can be the aggressive salesperson that I am.