The Original Dragon: How Simon Woodroffe Bootstrapped Yo! Sushi, Yotel and the Yo! Group
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Simon Woodroffe, founder of Yo! Sushi, Yotel and original Dragons' Den dragon, joins Oliver on The Unlock Podcast to share how he bootstrapped a brand empire with no funding and a divorce at 40.
He breaks down the Three Fs funding model, why nobody came to Yo! Sushi for a week before queues lasted five years, how he scaled Yotel with 500 million dollars of Starwood capital, and why a 1 percent royalty has earned him more than every shareholding combined.
His operating principle: Say Yes first, figure out how to deliver second.
From rock and roll stage designer, to opening a million pound restaurant on credit, to sitting on the original Dragons' Den panel, and now launching his memoir Yo Man at 74.
Simon Woodroffe operating principle is simple. Say Yes first, figure out how to deliver second. He also breaks down the Three Fs funding model: friends, family and fools. Why he put 100 percent of his own money on the line before raising. Why selling 30 percent to a VC quietly saved Yo! Sushi from running out of cash. And why a 1 percent royalty has earned him more than every shareholding combined.
Key topics covered:
- How Simon Woodroffe built Yo! Sushi into an 850 million dollar exit
- The Three Fs funding model and why seed funding beats raising too early
- Why you cannot do market research in a market that does not exist
- How to build credibility before you have it
- Why nobody came to Yo! Sushi for a week, then queues lasted five years
- Scaling Yotel into a global hotel group with 500 million dollars of Starwood capital
- Why planning your exit three years out matters
Key takeaway: The founders who go the distance say yes first and figure out how second.
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