Steve is CEO of Sussex Beds, a fast growing independent bed retail chain which now boasts 15 stores across the South East (Caterham, Surrey was the latest opening). Steve’s bold expansion plan calls for 25 stores by 2025 – and 80 by 2030.
How might a child describe what you do?
Steve works in an office and is the boss of the bed store with the dinosaur outside.*
What is the biggest long-term challenge you face?
As a rapidly growing and expanding business, we maintain our close-knit culture, great internal lines of communication and speed of adaptability.
If you had 10 times your working budget, what would you spend it on?
First, with 10x the operational budget, we would significantly increase training and personal development budgets and aim to upskill teams across the business. Along with this, we would accelerate the pace of growth and rapidly expand the reach of our store portfolio along with significant investment in our website and omnichannel connectivity. Finally, as volumes grow, we would acquire and acquire a manufacturing operation to meet our long-term end-to-end supply chain goals.
What would be the title of your resume?
“Helping the World Sleep, Woven Carnations.”
What does “work/life balance” mean to you?
Time outside, time away from the physical workplace, is critical. Reset, recharge, refresh… everyone’s needs are different, but it’s essential to your mental well-being that you take time out. Building or running a business is a long road that won’t be straight or even, and you’ll need to fill the tank to make sure you get to your destination.
Who is your most influential professional mentor?
In 2014 we started working with business coach Lucy Cameron. We didn’t know what to expect. However, after years of struggling to keep our business afloat, what did we have to lose?
For the business and for me personally, it has been the most influential professional mentor, providing structure, planning, strategy and, most importantly, belief.
What advice would you give your younger self?
Believe in yourself, work on your emotional intelligence and find a business coach today!
What is your best day in business so far?
We are reopening the doors of our stores after months of lockdown. I put the months of uncertainty to rest, welcome back our teams, and am proud of my family for coming together, supporting each other through the most challenging business events.
What is the biggest myth about our industry?
That a firm or orthopedic mattress is beneficial for back pain.
What should everyone in our industry stop or start doing?
I think the most frustrating habit of our industry is creating great new products that are then copied, killed and devalued until they no longer meet the needs they were originally designed for. Wouldn’t it be great if we stopped this?
Where do you see the industry going in the next 5-10 years?
The lines between manufacturer and retailer will blur. The importance of traditional brands will diminish and the winners will be those that connect and resonate directly with the consumer. And these consumers will expect a seamless connection between the physical store and the digital world.
* Visit Sussex Beds’ Bexhill store to see ‘Dino’!
This interview is featured in May’s Furniture News.