Richard Hall - Pd-m International Ltd
Who are you? What do you do? Where do you do it?
My name is Richard Hall. I am the founder and Managing Director of Pd-m. We are a product design, manufacturing and project management consultancy. We work with a range of companies of all sizes including entrepreneurs and established businesses. We deliver a turnkey service taking products to market in terms of design, engineering, prototyping, sourcing, compliance, quality control and supply chain management. We are based in Harrogate and work on national and international projects, particularly China where I have a lot of experience. For more information, visit www.pd-m.co.uk.
Why did you start-up a business?
I have always been a highly motivated person and had a desire to set up my own business. Throughout my career I have worked very hard but didn’t always feel appreciated. I saw an opportunity in the market, carried out due diligence, formulated a business plan, tested the market and won three projects in the first week of trading.
How (and when) did you start-up a business?
I started the business in March 2005. It was entirely self-funded from the start. I am glad to say that I did not have the headache of a business loan, overdraft facility or venture capital. This still gives me great satisfaction and pride.
What have been the biggest challenges in running your own business? How have these been overcome?
Apart from the usual business issues, work/life balance is the biggest challenge which I try to address. I have a very understanding wife and young family to support.
What have been your greatest achievements in running your business?
I think the first achievement is that we are still in business after almost three years – this may sound very humble, but there are plenty of scary statistics out there regarding failed start up businesses. The other achievement is that we have the privilege to work on some great projects for fantastic clients. The projects have been on national television, radio, newspapers and won prestigious awards – this gives our team great satisfaction. A personal achievement in 2007 was to be nominated as one of the 42 Under 42 Awards hosted by Yorkshire Business Insider magazine. It profiles the top 42 entrepreneurs in Yorkshire who have been recognized as emerging business leaders and earmarked for great things.
What would be your advice to any young aspiring entrepreneurs?
Congratulations – you’ve already started the journey by joining Wildfire! My most important piece of advice is to get a mentor or Non Executive Director – someone who already has experience and can add value to your business. You can use them as a sounding board and more importantly – they can challenge you on your thoughts and plans. In business terms, consider the unique benefits that your business would bring to the market. Analyse your competition. Create a robust business plan and use it as a live document. Be realistic in your goals. Take calculated risks. Don’t become complacent. In personal terms, you must be passionate about what you are doing and have an unrelenting desire to succeed. Keep yourself motivated. Stick at it.