Mike Davies is the co-founder of Haystack, the Newcastle-based careers and insights marketplace for those working in software development, data and design.
A developer himself by trade, Mike co-founded the company in early 2020 having spent time at the Ignite Accelerator working on Haystack’s development. In November 2021, he was named Start-Up Entrepreneur of the Year for the North East at the Great British Entrepreneur Awards.
Haystack itself has bene built by tech specialists to help others find roles for them, providing relevant opportunities to those looking for new technical roles. It’s utilised by brands looking for talent including Huel, AutoTrader, Atom Bank, Skiddle, Sage and more.
We found out the lessons the young entrepreneur has learnt so far.
Which single daily habit or practice could you not do without?
There are a lot I could list here but the single biggest thing that always brings me back down to earth is exercise, it’s pretty much my version of meditation. Oh, and coffee – lots of coffee!
What’s been your luckiest break?
I think I was very lucky to meet my co-founders Chris and Rob. The introduction was off the back of a chance meeting with our then-lead investor, Dan.
At the time, I was a solo founder trying to scrape by and figure out how I was going to build this grand vision. As soon as we put our heads together, it all clicked and we knew we on to something big.
Being a solo founder can be quite a lonely road, especially if you don’t have someone to bounce ideas off and you’re trying to tackle a two-sided market like we are. Bringing on a team that you can trust early on, who are willing to share the load and go the extra mile, can be a defining moment in the development of your business.
What’s your best failure?
There are too many failures to count. Failing is an essential part of learning – especially in the tech game.
We’re constantly running experiments, whether it’s marketing experiments, product experiments or sales experiments, the list’s pretty much endless. Nine times out of ten these experiments fail, and that’s completely fine. But, every now and then, one of them works and that can be the catalyst for a step-change.
What is the best investment you’ve ever made, either financial or time?
I’m always learning and always investing in new ways to learn. I try to take the time to pick up new skills as I go; I never want to be pigeonholed or miss out on the next big thing.
I always try to keep an open mind when it comes to new technologies and look at things from the perspective of the target audience.
Which book would you recommend others to read and why?
Can I mention two here? Anyone looking to build a tech company has to start by reading ‘The Lean Startup’ by Eric Ries, and ‘Zero to One’ by Peter Thiel.
What one piece of advice would you give your 21-year-old self?
Take the meetings, network at every opportunity, and be very selective with the advice you take onboard. There are a lot of people out there willing to dish out advice but not many who’ve genuinely been there, done that, and got the T-shirt.
Who or what has had the single biggest influence on your working life?
Without a doubt, my parents. Both of them have been successful in their own ways and have always been a huge inspiration for me.
Tell us something about you that would surprise people.
I always use this one as my “interesting fact” in ice-breakers so no doubt the Haystack team are sick of hearing it, but once upon a time I used to play on the same football team as two current England players.
How will the COVID crisis change work for the better?
I think the growing trend of remote working opportunities is here to stay, especially if you work in software engineering or something similar.
It’ll be interesting to see how this effects regional salary disparities too – are employers going to continue paying London salaries, for example, if 90% of their team don’t have the expenses that come as part and parcel of living in London?
What does success look like to you?
I think that’s quite an easy one to answer. Being able to work on something you’re genuinely passionate about.
