Hospital innovations – the man behind the success story
Phil Davies the man behind the hugely successful Hospital Innovations brand is easy to talk to, and once he gets going on a subject he’s passionate about, his business, he’s hard to stop.
Perhaps it’s not surprising in building his business from nothing to a £1.3 million turnover in one year means you have to be passionate about business.
After completing a teaching degree in 1982, never content to be a salaried static Phil plunged into the field of Orthopaedic Implants and within 10 years found himself on the UK Board of Johnson and Johnson Orthopaedics as Director of Sales and Marketing.
After nearly 20 years at Johnson and Johnson Phil joined Plus Orthopaedics, Europe’s largest Orthopaedic implant manufacturer as Managing Director. In 2008 Phil decided to come back to his homeland and set up on his own as Hospital Innovations. We ask Phil Davies how he did it and what the traits of a successful businessman are.
Why did you decide to go it alone?
I no longer wanted to work for big corporations. Starting my own business meant better income opportunities, improved quality of life, autonomy and the ability to influence my own future.
How is your work different now?
It’s a lot more hands on. I really enjoy the client-facing side of the business and that’s something I had started to miss. I’m in a position now where I can use my knowledge of having worked for larger companies.
How did you fund it?
The company was funded out of my own personal money.
How did you get your clients?
I didn’t do any advertising; it was all done by word of mouth. I also had many contacts from my previous position. Obviously I want to build up my direct client base as that represents a lot more revenue for the company.
Where do you see the company going next?
I would be happy for my business to remain an SME – I don’t want it to turn into a big agency because I like the personal contact involved. It doesn’t need to be massive in order o be profitable. Ideally, I would like to maintain the same momentum we are currently achieving.
What makes a successful businessman?
I have a theory on doing business. If my business is good, it's not because of the weather, the time of year or the economy. It's because of me and my staff. If we perform, so will the Company. If my business is poor, it's not because of the weather, the time of the year or the economy. It's because of me and my staff. If we are doing something wrong, it will affect the business. Somebody is always buying something from somebody, so how can I make them buy from me?
- you need confidence in yourself and your products with clear goals and knowledge of the products you are selling. Only then can you inspire dedication from your staff and a willingness to buy from customers.
- constantly set higher goals Successful business people are mountain climbers who, having climbed one peak, look beyond to the next highest.
- avoid "comfort zones" To a successful person, standing still feels like going backwards. People who stay in their comfort zones do what they did before because it's "the way we've always done it:" They run the same ads, sell the same products in the same way and avoid anything new, different or unusual because they feel they might do something wrong. They blame any lack of business on the weather, the time of the year, the economy--anything except themselves. You must take control of your own destiny and market your businesses strategically.
- be driven by accomplishments, not money. Phil follows the theory of Apple Computer's founder Steve Jobs, who said, "The journey is the reward." Apple are customer focused, not product focused. Their thrill is not the ringing of the register but the crowds responding to their mailing. For Phil, there is no greater high than satisfied customers and an order book full of orders.
- In making relevant business decisions, look at the worst possible scenario then, knowing this, decide if the risk-taking is practical. If it is, proceed with the confidence, knowledge and expertise necessary to make it work and do not be afraid of failure. ‘’Every time I fail,’’ said Thomas Edison, ‘’I learn something.’’ He tried 1,114 times to find a filament to stay lit in a bulb. He failed 1,113 times.
- Finally, surround yourself with a great team.