After lengthy and comprehensive experience in Corporates, Alan
Turner broke away from the mainstream to form the Alan Turner
Group on 4th January 1982, from his Barbican flat. The company
stemmed from many ideas, resulting in two main divisions: the
insurance brokers 'James Hallam' and, from the idea of insuring
the uninsurable motorist, 'Sabre'. In order to develop the group,
outside investors were brought in from the world of finance
and banking in the late 80's. The peak year showed a pre-tax
profit in excess of £5m with 145 employees. When faced with
the choice of floating or selling, the Alan Turner Group sold
off Sabre to General Accident and retained the remainder of
the business under private ownership.
Q. What was your first investment?
Apart from small investments in the stock exchange, my first investment was in our own company the Alan Turner Group when it was formed in 1982. This has also been my best investment, having produced a great return on the initial capital.
Q. What's the best thing about being an investor?
Well, our principal activity is Insurance and Financial Services, however we do invest where we can work with the right people, have input and help them, using the benefits of our own experience.
Q. And the worst thing?
Dealing with people who find it hard to feed you with information, and who are unable to meet agreed deadlines
Q. What type of company do you invest in?
We only invest in a few companies, these include insurance & financial services and underwriting, and we do occasionally work with companies in other sectors when the people impress us.
Q. Your career high points?
Starting our own business and, with the help of a growing first class team including Paul Turner my son, building it up and steering it through to success.
Q. What qualities do you look for in an entrepreneur?
What is an entrepreneur? Graham Day of British Leyland said he was a Rescue Man not an Entrepreneur. He said that an entrepreneur is someone who starts something from scratch. I look for someone with energy, enthusiasm, realism, honesty and the ability to create a plan and persuade investors to subscribe. Someone who is also prepared to take a significant personal financial risk shows commitment.
Q. What really sells a company to you?
The people, the team and the idea. We go through business plans, one-to-one discussions and presentations. Even if you are only making a small investment, you have to look at it as though you are buying the whole company.
Q. How do you see the future of New-Media investment?
It has become very unfashionable. We have a small number of investments in new technology. There are still opportunities there; it is a question of being persuaded by an idea brought forward by people who are able to carry it through. So often you get someone coming from a large company who has an idea, but does not have the skills or knowledge to be able to run their own company.
Q. What would you do with your last £10,000?
Keep it in a safe place.
PERSONAL QUESTIONS
Q. What was your lucky break?
I don't really believe in luck, I think for me it has been a question of working on a lot of ideas rather than one thing. I have never been afraid of hard work. I have been influenced by a number of people I have been privileged to meet.
Q. What's your motivation to work?
I love Business. I enjoy meeting people, exchanging ideas and making things work.
Q. What or who has been the biggest influence on your life?
I am a committed Christian, so it would have to be my Faith.
Q. What do you do to relax?
I play tennis 2-3 times a week; I enjoy golf, off 12; I like opera, theatre and travel; I fish, although not as often as I would like; I am involved in local Christian activities. I'm not sure how relaxing this all is, or whether indeed I want to relax.
Q. What do you feel has been your greatest personal achievement?
With a good team, building the Alan Turner Group.
Q. Who would you most like to meet?
St. Paul. Because he was a very hard working, brave man and a great leader.
