30 Years of Seico And Still Going Strong

[See image gallery at www.seicogroup.co.uk] On 26th November 1991, Rob Starr set up SEICO Insurance & Mortgages from his bedroom, before taking a small cupboard sized office with standing room only, from where he would start to grow his business. Now 30 years on, SEICO employs over 30 people in the mortgage department with offices in Hove and London and is considered as one of the Top 50 performing mortgage brokers in the country by the majority of their lenders. Two years ago SEICO opened an insurance business in South Africa servicing the mobile phone market and already has over half a million clients worldwide.

Here we catch up with CEO Rob Starr for some quick fire questions on his journey so far;

What inspired you to start the business?
I came from a household where being self-employed was the norm, so it was just instinctive I think. I found myself working in insurance & mortgages by chance and therefore that was the route I took for my business, but in reality I think I would have been self-employed in whatever field I had found myself in.

Who were your key influencers/mentors at the time?
Without a doubt my Dad. I have never been impressed by celebrity and I never really looked at business moguls and thought that they were doing anything that I couldn’t do – perhaps it was my naivety as a youngster. But my Dad was a grafter and I understood from him the value of being honest always and working hard and always listening – people don’t listen enough, but my Dad taught me the value of listening to people first.

Toughest Year?
In all honesty over 30 years I have had 30 tough years. Every year brings challenges and every year feels like it could all topple over. That is actually quite normal for a small business. For me it is only adversity that drives me. When things are going well I seem to be less focused and become lazy, but when I am in a corner I always come out fighting and become more creative.

Biggest Success?
Being in control of my own destiny! I could say it was winning this bit of business, or employing this number of staff or being able to pay the bills! But in truth my biggest success in business is being able to control the controllables, accepting the uncontrollable and just staying in the game.

Biggest Regret?
That is an easy one to answer. My biggest regret is all the time I wasted on worrying. Mark Twain once wrote “I am an old man and have suffered many problems, the majority of which never happened”. It’s so true. I wish back then I had understood that if you worry before you need to, then you worry more than you need to.

Most Grateful For…
The first ever client I had. It was on 27th November 1991 and it was a household contents policy for £54.00, which earned me £5.40 in commission. I felt like I had won the lottery as it marked the start of my own business. I even remember the client’s name and his postcode after 30 years!

How the market is different now compared to the early years?
Business fundamentally has not changed over my 30 years. It is still about doing the right thing for people and working hard for them. It is still about being resilient and having the ability to innovate. Everything was of course much more personal than it is now. It made business more enjoyable perhaps as you knew your client better. However nowadays you can reach more people and do much higher volume, which is very exciting. Really in 30 years not a lot has changed other than how one communicates and the reach we now have.

Most valuable advice received and advice for any New Business Owner at the beginning of their journey…
Know your numbers. Numbers are everything in a business. Also, don’t try to plan too far ahead, be prepared to make changes to your business as many times as you need to. And finally it’s all about staying in the game! Things sometime look bad and you might not be able to see a way forward, but if you stay in the game then a way will show itself and it will always be a much better opportunity that you could ever have planned for.

What are your hopes and aspirations as you look forward to starting your 30th year in business?
Perhaps a slightly calmer, less bumpy, year would be nice as between Brexit and COVID it has been rather character building.

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