16. A British business legend at 91 | Sir Alec Reed

Businessman, philanthropist, a maverick at turning strange ideas into success.

In this very special episode, and in celebration of his 91st birthday, I sit down with my father, Sir Alec Reed.

Sir Alec founded Reed in 1960 from a carpet shop in Hounslow with just £75 in his pocket. Since then, he’s founded several charities, launched a business school and in 2011, was knighted for his services to business and charity.

Born in Hounslow in 1934, Sir Alec Reed left school at 16 and ten years later founded Reed Recruitment, which has grown into the UK’s largest family-owned recruitment company. Today, he shares his insights from over seven decades in business, the lessons he’s learnt along the way and why ideas are the real currency of business.

Awarded the Beacon Prize in 2010 and knighted in 2011, Sir Alec’s flagship charity initiative, Big Give, has raised over £346 million for a variety of causes, including Womankind and Ethopiaid, both of which he also started.

Timestamps

00:00 Intro

02:03 Sir Alec Reed

03:27 Starting Out in Life - Accountant

04:13 Joining Gillette - An Idea Company

04:44 Early Business Ideas - Toy Soldiers

05:43 The Reed Brothers - Printing Business

06:26 Taking The Wrong Course

07:44 A Tremendous Urge to be Self Employed

10:31 Starting An Employment Agency

13:31 Working On Your Own - Undiluted Ideas

16:48 Learning to Raise Alternative Funding

18:45 A Family Business - One Route to Consider - Risks and Benefits

23:43 The End Game - Exits - Inheritance and Selling

25:16 Philanthropy - Foundations and Charities

27:35 Cancer - Selling a Business and Financing a Charity

32:14 A New Approach to Charity - A Social Innovation

34:48 The Big Give

38:36 Looking at Failure as a Road Sign to Change Direction

41:39 Ideas! An Idea a Day as an Exercise

47:51 Wrap Up and Thank You

Links:

Follow James Reed on LinkedIn: https://www.linkedin.com/in/chairmanjames/

Find out more about Big Give: https://donate.biggive.org/

All About Business is brought to you by Reed Global. Learn more at: www.reed.com

This podcast was co-produced by Reed Global and Flamingo Media. If you’d like to create a chart-topping podcast to elevate your brand, visit Flamingo Media