Inspirational Woman: Joanne Smith | The Consulting Consortium

Joanne smithI started The Consulting Consortium (TCC) in 2000. My background – from front-line financial services, via the regulator and then as a consultant – sparked the idea of a compliance firm offering proportionate, bespoke advice – hence the creation of TCC. TCC is now the UK’s largest independent provider of compliance consultancy; it is a multi-award winning organisation and one of the UK’s fastest growing firms. In 2012, we married TCC’s compliance expertise with leading edge patented technology to create RecordSure. RecordSure is a unique compliance solution that allows regulated financial services firms to monitor, record and analyse conversations and real time interactions, between advisers and consumers. RecordSure will radically alter the way companies address compliance; it will protect consumers and prevent future mis-selling scandals.

What inspired you to start a business?

Towards the end of my MBA, I realised I was on a great career path, but with no set goals; this was the driver I needed to leave a comfortable role start a new business, within 3 weeks of completing the MBA.

What is the greatest challenge and the greatest reward in being your own boss?

The answer to both is building the right team; it is an immense challenge, but when you get the balance right it is rewarding to work with talented people who are driven to success.

Goals help to keep you focussed and motivated to achieve; it was only when I realised my lack of goals that I made a fundamental change and started a new business.

What motivational tips can you give to our members about goal setting and managing both successes and failures?

Goals help to keep you focussed and motivated to achieve; it was only when I realised my lack of goals that I made a fundamental change and started a new business. As for failure, the best approach is one attributed to Thomas Edison* – every failure is an opportunity to learn.

(*“I have not failed 1,000 times. I have not failed once. I have succeeded in proving that those 1,000 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.”)

What is the biggest challenge you have faced as a business owner?

Finance services and compliance are both traditionally very male dominated sectors, an interesting and challenging by-product of this is gentlemen are occasionally prone to underestimate a woman’s ability and try to take advantage of what they see as someone incapable of understanding the nuances of business as they do. This is an irritating challenge, but one that is very easily and quickly overcome, once they realise just how capable women can be!

A good, strong network keeps you abreast of new ideas and solutions – without this you may find yourself being left behind.

How have you benefited from mentoring or coaching?

Being guided by the experience of others can save you time and wasted effort; I am a big advocate of mentoring.

What advice can you give about the benefits of networking?

A good, strong network keeps you abreast of new ideas and solutions – without this you may find yourself being left behind.

What are your tips for scaling a business and how do you plan for and manage growth?

To invest in new ideas, sometimes you will have to move backwards – take a loss – in order to move forward; this can be unsettling, but if you’ve done your research, that loss can lead to exponential gains.

What does the future hold for you?

Taking RecordSure out to the global market, and to sectors beyond financial services. Continued organic growth of TCC at around 50% per annum

Related Posts

X