In 2018, Janet Linfoot made the bold decision to step down as CEO of Saga to build her own multi-million pound portfolio. Here, she shares with us her motivations, the lessons she has carried into her entrepreneurial ventures, and her views on the future economic landscape.
Transition to entrepreneurship
Why did you make this decision?
“I have always loved the roles I have held in my corporate career and feel extremely proud of the world-class companies I have led and the amazing teams I have had the privilege of working with. But I had reached a point where I wanted more freedom, choice and flexibility, and I felt it was time to transition into a multi-career position.
“I have always believed that it is important to have multiple sources of income, including passive income. Therefore, leaving my position as full-time CEO of the company has allowed me to focus on a broader range of investment opportunities.
Lessons from institutional life
What lessons have you been able to take from your corporate life into a more entrepreneurial world?
“I've learned a lot of lessons in my 25 years in the corporate world. Some of them just include having a clear vision, purpose and strategy, not only for your business but also for your personal life, and financial discipline, especially in investment opportunities to ensure you make solid decisions.
“Investing your own capital is very different from investing the capital of a large company, so precision and attention to detail will keep you in good stead.”
Impact over the past five years
Where do you feel you have made the most impact over the past five years?
“Creating the Brave Bold Brilliant brand has allowed me to open a world of possibilities to business leaders, entrepreneurs, corporations, executive teams, and aspiring future leaders. I truly believe that everyone has greatness within them, and that by being brave and bold everyone can unleash their intelligence!”
“With Brave Bold Brilliant as a golden thread, the biggest impact I have made has been on the companies I advise on strategy, growth, transformation, internationalization and executive board performance, as well as the individuals I work with as a business mentor who are keen to scale their careers and businesses.
“More broadly, through my podcast Brave Bold Brilliant, which is in the top 1.5% of all podcasts in the world and is listened to in over 120 countries, I am able to reach a global audience and have incredibly rich and authentic conversations with business leaders with High performers who truly inspire others to advance.
“On a personal level, my partner and I have a very different lifestyle than when we were working in large companies, living in London and often traveling abroad for work. We have created a life by design. Today, we triple-dip between living on the beach in Caswell, on the edge of the Gower in South Wales, and our property in London, as well as our residence abroad during the three months of the winter.
Economic prospects for 2024
How do you expect the economic landscape to change in 2024, if at all?
“I believe that in 2024, we will have some economic headwinds coming our way, driven primarily by interest rates, the cost of capital, inflation, skilled labor shortages, environmental challenges, and the global slowdown.
“I don't think we will see an economic collapse, but I expect global growth to slow to around 2.6% versus 2.9% in 2023, with some markets suffering a 'mini-recession'.
“However, there will always be opportunities in any market. In fact, there are multiple examples of startups that started during recessions such as Microsoft in 1975, Airbnb in 2008, and Apple in 1975.”
“Some of the developments happening in technology, such as artificial intelligence, are creating interesting opportunities. The increasing focus on ESG means that companies that are leading the way in ESG areas will emerge as leaders in 2024 and beyond.”
Insights from the Brave Bold Brilliant podcast
After interviewing many CEOs, entrepreneurs, and business leaders for your podcast about their own journey to success, what do you consider to be the common traits of a successful business leader?
“High-performing business leaders share many common traits. They plan strategically and do so with a clear understanding of ‘why.’ They manage their time effectively, demonstrate adaptability, flexibility, and a willingness to go beyond their comfort zones.”
“The best CEOs are constantly looking for new ways to improve themselves and their organizations.”
Entrepreneurship: innate or acquired?
Do you think entrepreneurship is something people are born with or something they can learn?
“When I was in the corporate world, I was telling myself that I wasn't an entrepreneur, that I was a great CEO of a company, and this is where I was supposed to be. Of course, that voice in my head at the time was talking nonsense, as I see now I'm skilled at working in both roles so I think entrepreneurship is something people can learn. Surrounding yourself with the right people and being in the right environment is crucial so you can learn from others.
“Having an appetite for risk is also important, as is a healthy approach to failure. If you can accept failure as learning and feel comfortable when it feels uncomfortable, you can become an entrepreneur.”
Mindset vs Skillset in Business Leadership
What do you think is more important in business leadership – mindset or skill set?
“Skillset is important, of course, but on a personal level, I believe mindset is the most important aspect for any business leader. It really starts within us, and believing and believing in yourself is what will allow you to unleash greatness in others – your customers, your teams, your shareholders and the world in which we work.”
“Being a strong leader means knowing where your skills lie and where your gaps are so you can hire people who are more skilled than you in certain areas. This shows real strength.”
Janet Linfoot's transition from corporate CEO to entrepreneurial force highlights the importance of adaptability, clear vision, and the courage to take on new challenges. Her journey offers valuable lessons for aspiring entrepreneurs and business leaders.
