[ad_1]
Matthew Scullion is CEO and founder of Matillion, a cloud data warehouse integration platform.
Founded by Scullion in 2011, Manchester-based Matillion has become a tech unicorn after a Series D funding round last year valued it at $1.5 billion. It has dual headquarters in Denver, Colorado.
The company’s platform is used by businesses to “convert raw data into actionable, analytics-ready data in the cloud.” His clients include Amazon, Cisco, IKEA and Travis Perkins for integrating disparate data sources and using them to derive business insights.
In this week’s Founder in Five Q&A, the Matallion boss explains how being a founder “isn’t all glitz”, why entrepreneurs need to think like athletes to avoid burnout, and why businesses need to make diversity and inclusion a priority as much as winning customers or raising capital.
1. What funding advice would you give a first-time founder?
Matthew Scullion: It is not always easy to admit, but not every company is a risky business. So many entrepreneurs are attracted by the prospect of raising money, but you need to think carefully about whether your business model is designed to need and provide venture capital.
If you decide to go this route, capital is one thing to consider, but not the most important thing. There is a good chance that you will embark on a long-term journey with the investor(s) of your choice, so establishing mutual trust and a shared set of values with them should be a priority. This is the best way to set both of you up for future success.
2. What are the best and worst parts of your job?
MISS: The best part is working with talented people. The sense of accomplishment I get from making my own little inroads into the universe by working with such brilliant minds is something I’m extremely proud of.
On the other side of the coin, being an entrepreneur and founder is not all about glamor; it’s brutal and all-encompassing. Not that I would change my experience for the world! But if you’re not careful to strike a balance, it can harm your family and personal life. I am fortunate to have a family and wider network that keeps me grounded and supportive.
3. How do you prevent burnout?
MISS: You almost have to think of yourself as an athlete; if you want to perform at your best, you need to keep yourself physically, mentally and spiritually healthy. I have a personal training session several times a week that I block off as an appointment in my diary and dedicate myself to it.
Seeking advisors is also important. Preferably individuals who have no stake in you or your company. I have many people with whom I can share problems and obstacles and help me maintain this balance between work, family and myself. In my experience, many founders forget the latter.
4. What is the most misunderstood technology?
MISS: Big data is still a source of confusion for many businesses. Every aspect of how we work, live and play is informed by data, but many leaders find it difficult to get the most out of the reams of data at their disposal. This is something we call “data performance”.
When many of us think of data, we think of dashboards, algorithms, and breakdowns. But 70% of the work in making data useful is preparing it for analytics, transforming it from its raw ‘iron ore’ state to ‘steel’ and using the real insights you derive from it to inform great products and services. This element under the hood is not widely recognized.
5. What is the best way to promote diversity in the workplace?
MISS: Ultimately, you need to articulate why diversity is important. It is undoubtedly the right thing to do from a moral point of view. But there is so much evidence that teams perform better when they are diverse in terms of gender, ethnicity, race, age, neurodiversity and more.
Like everything in business, results are about effort. So you need to make workplace diversity and inclusion a priority, the same way you would make winning customers, developing products, or raising capital a priority. If you set specific goals, your business is more likely to achieve them and your people are more likely to benefit from your efforts. Even if you don’t check every box right away, the results will be tangible and help you move in the right direction.
Founder in Five – UKTN’s Q&A series with the entrepreneurs behind the UK’s innovative start-ups, scaleups, unicorns and public tech companies – is published every Friday.
[ad_2]
Source link