Speaking with Michael Welch

Michael Welch, the founder of Blackcircles.com, the UK's leading online tyre retailer and Business Insider's Young Business Leader of the Year 2012, speaks to Elen Lewis, The Marketing Society's editor about his grandad, why data is better than reading tea leaves and the difficulty of choice.

How important is creative marketing to BlackCircles.com?
It's imperative, because we've never had the budgets of our peers. We've always had to be innovative out of necessity. As the business has grown and we've had more funds to help us with traditional stuff, we've thought twice, because now we've got this creative culture.

What advice would you give to entrepreneurs looking to launch a new business?
Do plenty of research in the market you're going to be moving into. In any new venture, there's always euphoria and excitement, but what's lacking is the understanding of the market and opportunity. In most cases I know, start up success invariably comes from experience - if you're in an industry you know and understand you probably have greater chance of success. Once you've got that business case developed and done all the homework and been through the tough questions, assessed the pitfalls, then it's about tenacity and sticking to it. I'd say 80% of my time running my business has been very tough, and 20%, has been a bit easier. Don't underestimate the amount of work it takes, that's the capital that builds the wellbeing of business in the long term. The only thing that separates people who succeed and see it through is the understanding of market and opportunity and the amount of work they put in.

Who or what has inspired you most profoundly in your career?
I'm easily inspired, and I have a predisposition to keep going when things are tough. The catalyst for launching Blackcircles.com comes from my background. I was made redundant from my first job as a tyre fitter and looking for jobs, I wasn't well qualified and I was beginning to consider getting job seekers allowance. My grandfather came over and said, 'Nobody in this family takes the dole and you're not going to be the first and you need to find something to do.' So, I started selling tyres from wholesalers because I couldn't find any other job. My choices were narrow and I think life is difficult when there are more choices to make. I didn't have any other choice. It was the only thing I could do, since then, it became about not wanting to fail and let people down.

What does bold marketing leadership look like?
Doing things differently is difficult for people who have a choice. Again, I would draw parallels with the early days of business and a start-up. When you've not got the budget, you have to innovate and therefore spend time on the fringes doing new, exciting things. They're more risky and don't cost a lot. I think it's about doing things differently and not following the pack. Be brave, be innovative, be different, be unwavering and stick to your guns, and don't lurch because of the fashions.

In an interview with 'The Scotsman', you described yourself as a 'perennial apprentice'. What is the most valuable lesson Sir Terry Leahy taught you?
The numbers don't lie, so focus on what the data in the business is telling you - and this was before the big data became fashionable. The story is there, you don't have to read the tea leaves, it's about taking the time to understand what will make the difference, and then analysing it. We get under the skin of the DNA of the business, and from that everything flows. Don't be scared of it but embrace it, a lot of people will step back, but you need to know what's going on. We get hourly reports, so I can see issues before they occur.

What’s your guilty pleasure?
Probably rubbish American television, I couldn't even tell you what it is. But, I do draw the line at the Kardashians. With so many choices, I put it down to research; I'm trying to catch our TV ads!

What would you say to your 17-year-old self?
Don't worry that your teacher has put you outside the class for being too talkative, that part of your character will put you in good stead.

Tell us a secret
I drink coffee like it's going out of fashion, but I always drink decaff so it's all for show...I'm a coffee show off.

Our Annual Conference is a day of three parts: helping you become more creative as an individual, more creative at work and more creative in the world at large. Led by our cast of inspirational speakers, from inventors to entrepreneurs, investors, brand guardians, business leaders and creative thinkers, this is an intensive one-day toolkit to boost your creativity.

For more information, or to book your tickets please view the event page.