entrepreneurs 21


Pictures by Angus Thomas


We looked at the recording studio console that had been developed and decided it was over-designed and technically not feasible to produce reliably or profitably, so we started from scratch using elements of the original design and retaining the same quality, but making it somewhat simpler. It was a short-lived success for a couple of years but we had to reinvent the business.


How did the digital revolution affect the business?


Technology was changing, the introduction of the CD meant record companies were focusing on releasing back catalogues on CD rather than investing in new artists and, of course, the global recession hit in the early '90s, killing demand for our expensive consoles.


In 1992 we had to reinvent Focusrite for the smaller home studios which were emerging and a real turning point was in 1995 when I met Dave Froker, who today is our CEO. For 10 years we had a very successful relationship with his company, Digidesign, in the US, for which we developed software and hardware for its computer-based


recording systems. Concurrently, we developed our own products and gradually grew the business into an international operation with a turnover approaching £10m by 2008.


In 2004 we acquired synthesiser brand Novation. Novation products are primarily used to make electronic dance music, a fast-growing music genre. The Launchpad has become an absolute phenomenon with hundreds of thousands sold, and over three million people have now downloaded the app version onto iPhones and iPads, enabling people who are not musicians in the true sense to become novice electronic musicians, leading some to buy the hardware if they get serious.


By the time the financial crisis arrived in 2008, we were very confident we could weather the storm and we’ve been growing rapidly ever since, going from a £10m revenue business in 2010 up to one which analysts are forecasting will generate around £48m this financial year.


Where do you go from here?


About three years ago I started thinking about succession planning and by coincidence Dave Froker got back in touch and did some consultancy for us. It worked well and I could see he was an ideal candidate to be my successor so, after six months, he upped sticks from California and came to live here, which has proved very successful for both of us. I still don’t know when I’ll retire but I knew that when the time came I didn’t want to cause the business any upheaval with a sale. Listing on AIM has given us much greater certainty for employees, the family and employee shareholders; as well as greater public exposure, plus a good platform to take the company forward for the next 25 years. It’s a story which is still unfolding – we have a five-year plan for organic growth and want to continue to build the business.


What has been your greatest achievement?


Overall, it has to be the success of the business itself and that’s been a real team effort. Taking the company public on AIM was something of a secret ambition that was in the back of my mind, and it feels like a notable accomplishment.


THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2015 What’s been a secret of your success?


The speed of change in technology is both a blessing and a curse. It’s a curse if you have a successful business but you can’t adapt. Focusrite didn’t have a successful business in the early days but we knew how to adapt, we abandoned the original business model which was past its sell-by date and we used the brand’s credibility and new technology to become more appropriate to the changing market. We succeeded through adapting and that was key.


Tell us about your family life


I married in 1973, the same year I started Soundcraft, and my wife Jenny and I have five sons and a daughter. We are very fortunate to have a fantastic relationship with all our children. We’re a very close-knit family and now have 11 grand-children to keep us entertained.


Have any of them followed you into the music industry?


My youngest son Joe is a musician and his band The Travelling Band played Towersey Festival near Thame this year, amongst others. They’re excellent and have a good following. We go and watch, and from time to time I give them some tips on their recordings, much to his annoyance. My daughter Joanna studied photography and is working as a freelance photographer, specialising in music and the arts. Our eldest son is a consultant surgeon whilst the other three are in business, one in business telecoms, the other two in consumer electronics and accessories.


Do you ever have any time off?


I’m the very proud owner of a former London Routemaster Green Line double-decker bus, which was retired in the 1980s – I call myself its current preservationist. It’s great for taking out the kids and the grandkids and driving around the countryside and just having fun.


Details: www.uk.focusrite.com www.businessmag.co.uk


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