David Gold
David is the classic rags-to-riches story. From a humble button-selling stall
in East London to a corporate empire, David is not only one of the most
accomplished entrepreneurs at Business Startup, but of his generation. And he’ll
be telling you his story, only at the show.
With successful sojourns heading the Daily Sport and Gold Star
Publications, David also acquired the Ann Summers chain of stores, turning
it into the empire it is today – one of the biggest success stories in British
retailing. It currently has over 150 stores with an annual turnover of £150 million.
What has been the key to your success? What advice would you give to fledgling
Name: David Gold For many years I was motivated and driven by entrepreneurs?
the fear of falling back into the extreme poverty It’s the romantic notion that an entrepreneur
Career Highlights: that I grew up in and remember so well. But I sells their house, borrows money and ultimately
• Started Gold Group International, have to say that luck has played a major part in succeeds, but these stories are very rare. I urge
parent company to Ann Summers. my success. Throughout my early years as an young entrepreneurs to only put in the money they
• Founder of both charter airline Gold Air. entrepreneur I cursed my bad luck, but many of can afford. If you go to a casino you gamble what
• Founder of national newspaper the these instances often turned into blessings to you can afford to lose but you should always keep
Daily Sport. which I owe much of my success. money for the taxi and hotel room in your back
• Chairman of Birmingham City Football pocket. It is the same with business; a sensible
Club. What has been the highlight of your career entrepreneur won’t touch this reserve.
so far?
There have been many highlights throughout my Who, or what company, do you most admire
working life. Football is my real passion, so taking in the business world and why?
Birmingham City Football Club to the Premiership for I have great admiration for Richard Branson and
“From time to time you slip
the first time was thrilling. But in business a highlight the Virgin brand he created from nothing to the
presented itself in an unexpected way - when my ‘empire’ he has now of over 360 companies.
down but you’ve got to
landlord threw me out of my first store in Charing He started the brand with a record mail-order
bounce back from adversity”
Cross. I cursed my bad luck, but it was the first step business before opening a chain of record stores
to making my first million – I used the money from – Virgin Records. He essentially built a brand
the Charing Cross shop to buy three other stores in without a product which is extremely unusual.
London from which I made my first million.
What’s next?
What has been your biggest mistake? The excitement now is in the succession planning as
Hall 1 – 12.30-1.00
When you’re fighting your way out of poverty and 71% of all second generation businesses fail. I think
Thursday
trying to put your foot on the first rung of the my daughters will benefit from a more streamlined
ladder, from time to time you slip down but you’ve company to run, as having to oversee the other
Q & A with David Gold: Pure Gold
got to bounce back from adversity. I remember parts of the business could cause problems.
Q&A hosted by David Gold – entrepreneur.
bringing out a magazine – Bite – which I ploughed I started the process three of four years ago,
Ask David how he rose from rags to
a million pounds into. It became almost like a child I bought my brother out of Ann Summers and sold
being one of Britain’s most successful
and I was reluctant to give up on it whilst it was Gold Air for £50m, Sport Newspapers for £50m,
businessmen and self-made multi-millionaire.
failing, my pride blinded me to it. One morning Broglia Press to a Management buyout and most
A rare chance to hear and learn from one of
I woke up and looked at the magazine with my recently, Birmingham City Football Club for £82m,
the most experienced entrepreneurs of not
business acumen and had to admit to myself it all of which my daughters where never involved in.
only his generation, but all time.
was going to fail and, as hard as it was, we ceased I have no doubt Ann Summers will succeed in the
the magazine that day. future with my two daughters remaining in charge.

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