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Ep.33 - The life of a serial entrepreneur, Sam White, Pukka Insure
The Key Learning Points:
1. The need to assess what is important to you in your life and how your job could support, or negatively impact, these goals
2. The importance of creating an environment of people around you that have a shared goal and purpose, in order to run a successful business
3. How female entrepreneurs often fear taking on debt and face barriers in acquiring funding, and the need for banks and lenders to address how they offer financial support to women
Today on the Risky Mix Podcast we’re joined by Sam White, serial entrepreneur, and a lady who set up her first business at the age of 24. Sam is currently CEO and Founder of Freedom Services Group, Freedom Brokers, Action 365, a motor claims management provider, and Pukka Insure, an MGA offering van insurance.
We start our conversation hearing more about Sam’s exciting entrepreneurial journey: “People tend to think that entrepreneurs have some kind of really big plan and vision from the start. ‘I want to save the world’, ‘I’m going to do x’, and they’ve got this clear pathway. It definitely wasn’t like that for me at all.” She studied psychology at university, but a family crisis meant that she had to leave before the third year. Sam initially got a job working for a motor claims organisation but had a moment of realisation after facing a few unfortunate life events. She explains that those tough times made her assess, at quite a young age, what was important in life and what she wanted. She decided that her job was far too much stress and pressure, so took a step back and ended up helping her uncle with some work from her sister’s conservatory. “Things snowballed from there! It was not intended to be a multi-million-pound business with a couple of hundred staff, it was intended to give me a bit more freedom and flexibility.”
Action 365 was the first business she set up, which handles car accidents on behalf of consumers. Sam organically grew the business and after three years she had around 10 employees and the business was making decent money. A couple of years later the claims market came under fire and began facing increased regulation. Sam lost 60% of business revenue within a six-week period, so spent the next few years stabilising everything.
Sam then made the move into insurance and subsequently set up Pukka Insure in 2016, selling van and car insurance. In 2017 she set up insurance distribution business, Freedom Brokers.
We ask Sam how she successfully manages multiple businesses. For her it’s all about the people you have around you: “My experience is that if you can create those environments, if you can create a shared goal that people can get excited about that they feel supported about, then you can do anything! That’s the power of being human and not being an animal for me, it’s the fact that we can share stories, but we can also share a shared sense of purpose. That’s our unique strength.”
Sam chats to us about the challenges she faced as a female founder trying to get funding. Despite running multiple successful enterprises, she explains that she was unable to secure funding in the UK but interestingly had very little problem in Australia with her latest venture which is a women’s insurance offering. Sam believes that “there is something about our culture which discourages women from being braver or more risk-taking.” This led her to set up Social Capital, which supports entrepreneurs who don’t fit the mould, helping them access alternative forms of funding.
Sam explains that she’s worked with a number of female entrepreneurs and was surprised to discover that there appears to be a fear of taking on debt and seeking financial support, which she thinks needs to be addressed by bankers and lenders.
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By Katie and RajThe Key Learning Points:
1. The need to assess what is important to you in your life and how your job could support, or negatively impact, these goals
2. The importance of creating an environment of people around you that have a shared goal and purpose, in order to run a successful business
3. How female entrepreneurs often fear taking on debt and face barriers in acquiring funding, and the need for banks and lenders to address how they offer financial support to women
Today on the Risky Mix Podcast we’re joined by Sam White, serial entrepreneur, and a lady who set up her first business at the age of 24. Sam is currently CEO and Founder of Freedom Services Group, Freedom Brokers, Action 365, a motor claims management provider, and Pukka Insure, an MGA offering van insurance.
We start our conversation hearing more about Sam’s exciting entrepreneurial journey: “People tend to think that entrepreneurs have some kind of really big plan and vision from the start. ‘I want to save the world’, ‘I’m going to do x’, and they’ve got this clear pathway. It definitely wasn’t like that for me at all.” She studied psychology at university, but a family crisis meant that she had to leave before the third year. Sam initially got a job working for a motor claims organisation but had a moment of realisation after facing a few unfortunate life events. She explains that those tough times made her assess, at quite a young age, what was important in life and what she wanted. She decided that her job was far too much stress and pressure, so took a step back and ended up helping her uncle with some work from her sister’s conservatory. “Things snowballed from there! It was not intended to be a multi-million-pound business with a couple of hundred staff, it was intended to give me a bit more freedom and flexibility.”
Action 365 was the first business she set up, which handles car accidents on behalf of consumers. Sam organically grew the business and after three years she had around 10 employees and the business was making decent money. A couple of years later the claims market came under fire and began facing increased regulation. Sam lost 60% of business revenue within a six-week period, so spent the next few years stabilising everything.
Sam then made the move into insurance and subsequently set up Pukka Insure in 2016, selling van and car insurance. In 2017 she set up insurance distribution business, Freedom Brokers.
We ask Sam how she successfully manages multiple businesses. For her it’s all about the people you have around you: “My experience is that if you can create those environments, if you can create a shared goal that people can get excited about that they feel supported about, then you can do anything! That’s the power of being human and not being an animal for me, it’s the fact that we can share stories, but we can also share a shared sense of purpose. That’s our unique strength.”
Sam chats to us about the challenges she faced as a female founder trying to get funding. Despite running multiple successful enterprises, she explains that she was unable to secure funding in the UK but interestingly had very little problem in Australia with her latest venture which is a women’s insurance offering. Sam believes that “there is something about our culture which discourages women from being braver or more risk-taking.” This led her to set up Social Capital, which supports entrepreneurs who don’t fit the mould, helping them access alternative forms of funding.
Sam explains that she’s worked with a number of female entrepreneurs and was surprised to discover that there appears to be a fear of taking on debt and seeking financial support, which she thinks needs to be addressed by bankers and lenders.