BBF187: How Lee accidentally started a Multi-Million dollar public company with Lee Martin Seymour

We had a really insightful conversation with Lee Martin Seymour about how to define yourself in a crowded marketplace, and how his company X Ref is revolutionising employee references. Martin’s company began as an idea scribbled on the back of a napkin, but now he has a global business that recently raised AUD 20m from a flotation.

See some of Lee’s top tips below:

**  Successful entrepreneurs love risk and have the ability to make a decision. If you’ve got a good idea, make that decision and run with it!

**  People normally complain about a product/process if they know there is an alternative, but often they won’t complain if there is no obvious alternative way of doing things. Just because you can’t see a public demand for something doesn’t mean you shouldn’t take your idea forwards.

**  When recruiting, make data-driven decisions, not gut-driven decisions.

**  When hiring new employees, ALWAYS do a reference check!

**  When making big business decisions, i.e. listing as a PLC, try and get unbiased advice from people who don’t stand to gain from the ultimate decision.

 

In this episode of Business Brain Food you will learn:

**  The importance of culture over KPI

**  What questions to ask when taking a reference

**  How to focus on one problem

**  How long a reference should be

**  Listing companies explained

**  The benefits of hands-on company ownership

 

Resources mentioned in this episode:

**  Do you have what it takes to be a Business Excelerator at Max My Profit? Find out more here: http://www.maxmyprofit.com.au

**  Lee’s company site: http://www.xref.com

**  Lee’s email address: [e-mail]

**  The Business Brain Food Facebook group: https://www.facebook.com/groups/businessbrainfood

**  All previous BBF episodes & show notes can be found at http://www.businessbrainfood.com.au

**  Twitter: https://twitter.com/bfewtrell

 

Call to action:

Lee keeps going back to the point of “Culture over KPI”. Creating a happy team is absolutely fundamental to the success of any business.

Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that!

Until next time, have a profitable day!

Cheers,
Ben Fewtrell
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