INTERVIEW
iPower led to Phillips working as a contractor for the company in the US for 18 months before he returned to Europe , eager to prove himself once again , but now armed with the money to kickstart the venture capitalist firm Just Develop It .
Having initially harboured ambitions to match the power of the Virgin brand , Phillips and his team quickly established that investing in a company ’ s own image and people while driving to develop those areas left them with the flexibility to approach any business in which they saw potential . It proved to be a smart decision .
While Just Develop It still works with companies that share their roots in technology and computing – including JustHost , another hosting service that turned over £ 25mn worth of revenues – its success can be also be put down to the branching out into more varied sectors , such as leisure and property . The firm now runs over 200 properties in the UK .
“ I have a theory that the general principles of business are the same ,” adds Phillips . “ If you ’ re selling bananas , if you ’ re selling web hosting , a house , a jet , antivirus software – whatever you ’ re selling , the core
business principles are the same . “ Obviously every business has its own problems , its own categories . For example , with our aircraft business ( Xclusive Jets ) you need important people that really understand the legal side and the safety side . If you ’ re building a house , you need to have someone that really understands the foundation and the structural side . But from a high level , I think the core principles of what you ’ re doing in business don ’ t really change .”
Risk-taking is also at the heart of Phillips ’ philosophy . He adds : “ In order to have the growth that we have , there needs to be an element of risk , especially when you ’ re competing .
14 December 2017