The Boardroom with Richard Farleigh

90% of Startups Fail… Here’s Why

Everyone talks about startup success. Almost nobody talks honestly about failure. I explain the uncomfortable realities behind why most businesses never make it. From survivorship bias and bad valuations to hidden costs, competition, and the psychology of founders… this is a grounded look at entrepreneurship without the fantasy. If you’re building a business — or thinking about starting one — this episode might save you years of frustration. Entrepreneurship can create extraordinary outcomes. But only when you understand the reality of the game. #entrepreneurship #startups #business #founders #startupadvice I also write a free weekly newsletter about business, investing and entrepreneurship. You can read it here: https://richardfarleigh.substack.com. 📲 Follow Richard Farleigh: Instagram - https://www.instagram.com/richardfarleigh/ LinkedIn - https://www.linkedin.com/in/richard-farleigh-7a0a1616/ TikTok - https://www.tiktok.com/@richardfarleighhq 🔔 Subscribe for weekly conversations on entrepreneurship, investing, strategy, and the real side of business. 00:00 — The 90% Startup Failure Reality 00:48 — Survivorship Bias & Founder Delusion 01:22 — Why Competition Is Brutal 02:14 — How Big Companies Kill Startups 02:55 — The “Unknown Unknowns” Problem 03:46 — Why Most Ideas Aren’t Valuable 04:33 — Startup Valuations Explained 05:16 — Why Management Beats Intelligence 05:52 — The Real Problem Selling To Corporates 06:17 — Why Billionaire Advice Is Misleading 06:42 — Business Plans vs Reality 07:08 — The Hidden Costs Of Business 07:25 — Why Everything Takes Longer 07:38 — Knowing When To Quit 07:53 — Final Thoughts Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

Building a Business in Simple Steps | Joanna Jensen on the Childs Farm Journey

What does it really take to build a successful consumer brand from scratch? In this episode of The Boardroom, I speak with Joanna Jensen, founder of Childs Farm, to discuss the unconventional path that took her from property and investment banking to building one of the UK’s best-known family skincare brands. Joanna shares how personal necessity inspired the creation of Childs Farm after struggling to find products that helped her daughter’s eczema-prone skin. She explains the realities of scaling a consumer brand, negotiating with suppliers, getting products into major retailers, and why “no” is never the end of the conversation. I also write a free weekly newsletter about business, investing and entrepreneurship. You can read it here: https://richardfarleigh.substack.com. 📲 Follow Richard Farleigh: Instagram - https://www.instagram.com/richardfarleigh/ LinkedIn - https://www.linkedin.com/in/richard-farleigh-7a0a1616/ TikTok - https://www.tiktok.com/@richardfarleighhq 🔔 Subscribe for weekly conversations on entrepreneurship, investing, strategy, and the real side of business. Chapters 00:00 – Introducing Joanna Jensen 00:50 – Leaving School & Early Ambition 01:54 – Starting Her First Property Business 05:25 – Entrepreneurs & Adapting to New Technology 06:42 – Taking Risks Young 08:23 – Moving to Hong Kong 09:27 – Entering Finance Without a Maths Background 12:35 – Intellectual Curiosity & Career Changes 13:04 – The Importance of Speed & Attention to Detail 14:20 – Why Closing the Loop Matters in Business 15:20 – Efficiency, Meetings & Respecting Time 15:49 – Negotiation Tactics That Save Thousands 17:30 – Startup Hustle & Managing Cash Flow 18:34 – The Danger of Overspending on Ads 19:38 – Why Most Small Businesses Fail 20:23 – Free Business Research Entrepreneurs Ignore 22:05 – Returning to London & Investment Banking 24:23 – Leaving Finance to Raise Children 26:14 – Financial Crisis & Starting Again 28:14 – The Inspiration Behind Childs Farm 29:16 – Creating Products for Eczema-Prone Skin 31:20 – The Story Behind the Childs Farm Name 32:29 – Helping Children With Sensitive Skin 34:02 – Getting Childs Farm Into Retail Stores 35:12 – Why Receptionists Matter in Business 35:51 – The Viral Facebook Post That Changed Everything 36:54 – Joanna’s Books & Advice for Entrepreneurs 38:11 – Final Thoughts Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

From Reselling Trainers to Serving Footballers, Founders & Millionaires | Ed Somner Bogard

What starts with selling trainers during COVID can eventually lead to private jets, luxury watches and ultra-high-net-worth clients. In this episode, I sit down with Ed Somner Bogard, founder and director of EMJ Exclusive, to unpack the remarkable journey from sneaker reselling to building a fast-growing luxury concierge business. Ed explains how he scaled a shoe reselling operation buying thousands of pairs each week, pivoted into PlayStations during the global chip shortage, and eventually built relationships with footballers, YouTubers and successful entrepreneurs. The conversation explores entrepreneurship, sales, networking, luxury markets, hiring, AI, trust, customer relationships and why most people overthink starting a business. Ed also shares behind-the-scenes stories from the world of private aviation, sourcing rare watches, luxury travel and managing requests for high-profile clients around the world. I also write a free weekly newsletter about business, investing and entrepreneurship. You can read it here: https://richardfarleigh.substack.com. 📲 Follow Richard Farleigh: Instagram - https://www.instagram.com/richardfarleigh/ LinkedIn - https://www.linkedin.com/in/richard-farleigh-7a0a1616/ TikTok - https://www.tiktok.com/@richardfarleighhq 🔔 Subscribe for weekly conversations on entrepreneurship, investing, strategy, and the real side of business. Chapters 00:00 From Shoes to Planes 00:27 What EMJ Exclusive Actually Does 01:02 Starting a Business During COVID 02:02 Buying 1,000 Pairs of Shoes a Week 02:53 From PlayStations to Footballers 04:35 The Ethics of Sneaker Reselling 06:33 Building a Business With No Money 09:08 Drifting Into Entrepreneurship 10:17 How PlayStations Opened New Doors 11:40 Flying Rare Cats to Ibiza on a Private Jet 13:04 The Reality of Private Aviation 14:43 Building Relationships With Wealthy Clients 17:26 How EMJ Exclusive Makes Money 19:15 Why Customer Relationships Matter More Than Margins 20:18 Scaling the Team & Business Growth 21:43 Hiring Great People Early 22:33 Trust vs Sales Skills 23:17 Relationship-Based Selling 24:41 Building Through Word of Mouth 25:19 Learning to Manage People 28:26 Advice for Young Entrepreneurs 29:08 Why Most Founders Overthink Starting 30:43 Proving a Business Before Raising Money 31:33 AI, CRM Systems & Luxury Concierge Tech 32:40 Handling Online Criticism & UK Business Culture 35:02 Why the UK Needs More Entrepreneurs Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

From Apprentice Winner to 8-Figure Business | Lee McQueen on People & Hiring Beyond CVs

What if the way you hire people is fundamentally broken? In this episode of The Boardroom, I sit down with Lee McQueen, winner of The Apprentice UK, who went on to build multiple seven and eight-figure businesses. We break down what actually drives growth in business today: Why hiring based on CVs is outdated What to look for instead (behaviour, mindset, performance) Why most businesses struggle with sales The importance of environment, standards, and execution Lee shares lessons from scaling companies, hiring top talent, and building high-performance teams along with the hard truths most founders avoid. If you’re a business owner, leader, or operator, this is a practical conversation on what it really takes to grow. I also write a free weekly newsletter about business, investing and entrepreneurship. You can read it here: https://richardfarleigh.substack.com. 📲 Follow Richard Farleigh: Instagram - https://www.instagram.com/richardfarleigh/ LinkedIn - https://www.linkedin.com/in/richard-farleigh-7a0a1616/ TikTok - https://www.tiktok.com/@richardfarleighhq 🔔 Subscribe for weekly conversations on entrepreneurship, investing, strategy, and the real side of business. Chapters 00:00 – “No Revenue = No Business” 00:36 – Winning The Apprentice & Early Career 01:57 – Raising Money & Market Timing 03:28 – The CV Controversy Explained 07:26 – Why Hiring Based on CVs Is Broken 09:32 – How to Actually Assess Talent 11:01 – Standing Out in Job Applications 12:22 – Why Most Candidates Fail 14:17 – From No Money to First House at 18 16:42 – Getting Into Sales & Recruitment 18:20 – Environment & Who You Surround Yourself With 20:07 – Education vs Real-World Performance 22:51 – What Do You Actually Want? 24:24 – Why People Ignore Advice 25:00 – Sales: The Real Business Problem 27:00 – Reframing Sales (Not What You Think) 28:27 – Value vs Price 30:33 – Business as Experimentation 32:26 – Life After The Apprentice 35:03 – Final Advice for Founders Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

AI Will Replace Entire Companies? | The Boardroom

Artificial intelligence is no longer just hype, it’s reshaping economies, industries, and even national sovereignty. In this episode of The Boardroom, I sit down with AI pioneer and founder of founder of BenevolentAI, Kenneth Mulvany to explore the real impact of AI on jobs, business, and global power. From the rise of one-person billion-dollar companies to the prospect of nations losing control over their own “cognitive infrastructure,” this conversation dives deep into what’s coming next. Ken also shares how BenevolentAI became the first company to develop an FDA-approved drug using AI, and why the future of business may not include humans at all. I also write a free weekly newsletter about business, investing and entrepreneurship. You can read it here: https://richardfarleigh.substack.com. 📲 Follow Richard Farleigh: Instagram - https://www.instagram.com/richardfarleigh/ LinkedIn - https://www.linkedin.com/in/richard-farleigh-7a0a1616/ TikTok - https://www.tiktok.com/@richardfarleighhq 🔔 Subscribe for weekly conversations on entrepreneurship, investing, strategy, and the real side of business. CHAPTERS 00:00 – Intro: AI, Power & the Future 00:40 – Why AI Could Threaten National Sovereignty 03:10 – The Energy Crisis Behind AI Growth 05:20 – How Fast AI Has Really Advanced 07:10 – AI vs Jobs: Who Wins, Who Loses? 10:15 – Why Only 5% of Companies Benefit from AI 13:00 – The Coming Productivity Boom (or Not?) 16:10 – One-Person & “No-Person” Companies Explained 20:30 – AI Running Businesses Without Humans 23:30 – Can AI Replace Innovation & Creativity? 26:00 – Are Fully Autonomous Companies Already Here? 28:30 – BenevolentAI: The First AI-Discovered Drug 31:00 – From Pharma to AI Decision-Making Systems 33:30 – Who Will Win: Big Tech or Startups? 35:00 – Final Advice for Entrepreneurs Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]