What’s the best investment you’ve ever made? Miles Hunt interview with Steve – Part 3
On 18th November 2016 Benula Capital invested into idibu. The man behind Benula is Miles Hunt. He came to our annual get together in Barcelona – a great opportunity for me to interview Miles on different topics.
This third part asks Miles what’s the best investment he has ever made. Part 4 will focus on Brexit, market trends and APAC.
Steve: What’s the best investment you’ve ever made? Now, this doesn’t have to be money; it could also be time.
Miles: Okay, the first things that come to mind are the deals that were done that did make money, or again, I think there’s a danger… I’m a bit of a financial engineer in a sense that I do – I have been involved in many, many acquisitions and investments over the years. Now if you look at the ones that gave you payback in three months which has happened in one or two cases, or the ones that have, you know, the startups that was making a run rate to a million dollars of profit within 12 months, and you think well that was just an extraordinary, extraordinary investment.
If you’re looking at sort of putting a flag out and saying these are things that have gone well, then great. But I always remind myself that for all the really good ones that happen, there’s been one or two turkeys as well. I think you’ve got to be careful not to get too carried away with the successes.
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In terms of pleasure, I think it’s, again, outside the money. For me, it’s all about seeing people grasp an opportunity and run with it and then see the rewards that come as a result. So, seeing not just the investment you make which gets the return pretty quickly, but actually seeing the long-term outcome of how it changes people’s lives.
In our industry, recruitment is all about all people. And I think if you’re not passionate about people and interested in people and what drives people and seeing success and seeing the implications of success on people’s lives, then you’re in the wrong industry. And actually for me, it’s seeing that.
So, to see people who started with nothing or came out for example out of the last horrible down turn of 2008 and 2009. I remember when we started businesses in 2009-10, or we employed people into businesses in 2009-10 and seeing them not just succeed but to actually make life-changing amounts of money as a consequence of their success, it gives me the hugest pleasure.