“Good is good enough” — Building a business should not be about perfection as you’ll have to learn from the feedback your users give you, which more than likely means that you’ll have to change your product. When I first launched my HR product, I waited as long as I could to make sure the software was in my mind, ‘perfect’.
Jamie Beaumont is the founder and CEO of Playter Pay, the World’s First Hiring Accelerator for Startups and Scaleups, and has a decade of experience in recruitment. Jamie provides a ‘Hire now pay later’ model, funding people growth on a six-month 0% finance basis. He knows firsthand the struggles of raising money, scaling businesses, and retaining talent.
Can you tell us a bit about your “backstory”? What led you to this particular career path?
I have a background in recruitment and after running an agency up to 2019, decided to start my own technology company solving the issues that lie within the talent industry. With a huge passion for tech and finance, I wanted to explore ways in which FinTech could increase employment in UK SMEs.
Can you tell our readers what it is about the work you’re doing that’s disruptive?
I’ve launched Playter Pay, the world’s first Hiring Accelerator for startups and scaleups, powered by unique Hire Now, Pay Later finance. This allows amazing UK businesses to split the cost of hiring over 6 months, helping them hire without damaging their cash flow. This has changed the way businesses capture top talent.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
I’ve made too many mistakes to know where to start, but by far the ‘funniest’ mistake was taking my dog to a client meeting. It was early in the morning and they had a board meeting happening very early from 6 am due to other members of the board being in Asia. My dog ran into the office at 7 am excited to see the client I knew but with the office being large, I lost her for a few seconds. As I tried to find her, I walked around the corner into the boardroom where the meeting was taking place to find my dog defecating on the floor next to the chairman. It’s safe to say she wasn’t invited back.
We all need a little help along the journey. Who have been some of your mentors? Can you share a story about how they made an impact?
I’ve never had too many mentors but the ones I have had have been incredibly impactful. The two phrases that have always stuck are “good is good enough” and “never fear a decision just because it might be wrong, mistakes are part of your day-to-day job”.
In today’s parlance, being disruptive is usually a positive adjective. But is disrupting always good? When do we say the converse, that a system or structure has ‘withstood the test of time’?
Can you articulate to our readers when disrupting an industry is positive, and when disrupting an industry is ‘not so positive’? Can you share some examples of what you mean?
Being disruptive has different connotations depending on the application of the word, but in tech, it’s deemed the holy grail of existence. In my opinion, to disrupt an industry is a positive when you’re removing old and archaic processes and businesses that stop society and users from gaining value from a product, service, or industry. Just look at challenger banks etc… But when a ‘disruptive’ business comes into an industry looking to bring something new without any knowledge of the market, the problems, or the target market inside of this niche and huge claims they can’t back up, then you get aimless businesses who cause more harm than good (Theranos/Fire Festival)
Can you share 3 of the best words of advice you’ve gotten along your journey? Please give a story or example for each.
- “Good is good enough” — Building a business should not be about perfection as you’ll have to learn from the feedback your users give you, which more than likely means that you’ll have to change your product. When I first launched my HR product, I waited as long as I could to make sure the software was in my mind, ‘perfect’. Once launched I found out that my target users disliked so much about the product that they didn’t use it. I should have launched earlier and learned from their feedback.
- “Ideas mean nothing” — Everyone has ideas and without execution, often the best ideas end up going nowhere. It’s important to validate your ideas with research in your desired market to make sure that it’s not just yourself who feels like there is a problem in the market.
- “All outcomes are successful” — If you’re learning from your mistakes, then you are inevitably improving along the way. The ‘All outcomes are successful’ methodology helps everyone realize that even if they make mistakes, the outcome is ‘knowledge’ which helps you improve the next time around. The only way you fail is if you haven’t learned anything at all.
We are sure you aren’t done. How are you going to shake things up next?
I’ll never be done. We’ve got plenty more to come with Playter and with it being such a young business, I’m looking to take it global. My overall ambition is to create businesses that change the way in which we ‘do things’ — That doesn’t mean creating a product, but instead create something that changes the way we work/pay/move, etc…
Do you have a book, podcast, or talk that’s had a deep impact on your thinking? Can you share a story with us? Can you explain why it was so resonant with you?
‘The Lean Startup’ and ‘Blitzscaling’ are my two favourite books and although they haven’t changed the way I think, they have instilled a deeper understanding of ‘why’. It’s led me to question things more which would have been useful for some of the mistakes I’ve previously made. My first HR product developers created a product that only allowed one user on the platform for each business. This was even though many HR teams asked for 10–15 members to be able to sign up. If I’d asked more questions about the build, I would have known this but instead, I assumed all was in good hands.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“Society grows great when old men plant trees whose shade they know they will never sit under” — My all-time favourite quote that essentially means, do good even though you might not benefit from the deed. I live my life through this mantra and suggest many more to do the same!
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
One of my overall ambitions has always been to be able to help fight homelessness. If I could inspire a movement, it would be to change the current office/high street dilemma by transforming unoccupied spaces to homes for those without any, as well as spaces to learn new trades and crafts to help them build new lives. There are already fantastic businesses doing what they can for the movement (Beam for example).
How can our readers follow you online?
I’m a big fan of LinkedIn and don’t have many social channels outside of this, so if you’re looking to connect or follow me, please do so on LinkedIn. My content is focused on being real as sadly too many aspire to the entrepreneurship fairytale when in fact it’s hard… very hard.
This was very inspiring. Thank you so much for joining us!