With Manchester Digital and DAC Beachcroft
At our inaugural Scaleup Sessions on 17th July 2025, we sat down with Nick Richardson, founder of The Insights Family. What followed was a deeply personal and honest account of what it really takes to go from scribbling a business idea in a Manchester pub to leading a multi-million-pound international tech business.
As founder of global market intelligence company The Insights Family, Nick grew the business to £4.5m in under five years, working with clients like Amazon, Disney and LEGO. He’s raised over £7m in investment and now supports the business strategically, alongside roles as a Non-Exec Director, mentor and Entrepreneur in Residence at the University of Greater Manchester. Nick has received numerous accolades for his work, including an honorary Doctorate in Innovation and recognition on the EY Entrepreneur of the Year and Northern Leaders Futures lists.
Nick was interviewed by Chris Air, Partner at DAC Beachcroft, our sponsors of the session - Chris is an experienced technology and privacy lawyer who works with various technology suppliers and large corporates, helping them understand and manage legal risks associated with technology transactions.
Nick’s journey offers a wealth of learning for any founder navigating the unpredictable leap from startup to scaleup. Below, we’ve distilled some of the key themes and takeaways from his session.
1. Trust your gut, but build around strategy
Nick’s entrepreneurial leap began with a simple decision: turn down a corporate relocation to the US, return to Manchester, and back himself to build something meaningful. What gave him the confidence? Self-awareness, combined with a clear strategic lens, shaped the early direction of the business. “I knew it had to be recurring revenue, I knew it had to be SaaS, and I knew it had to be rooted in data and insight.” Even without a precise product, the foundation was strong.
You also need to trust your gut with advice and support - look for it and take it with an open mind, but politely decline advice and opportunities if it isn’t right.
Takeaway: Don’t wait for a perfect idea. Get clear on your non-negotiables - business model, value proposition, and the kind of market you want to be in. Vision without direction is just noise.
2. Revenue is not all created equal
One of the most resonant points Nick made was the distinction between good and bad revenue, something many early-stage businesses fail to grasp.
Early on, the team delivered reports in PDF format and kept things lean, focusing relentlessly on building a scalable product, not a consultancy.
It can be easy to get distracted with custom work that isn’t mission critical and doesn’t push you forward.
That clarity allowed them to launch quickly, iterate, and win early blue-chip clients including Disney and Warner Bros.
Takeaway: Always ask if the revenue opportunity aligns with your long-term strategy. Revenue that pulls you off course, eats up capacity, or locks you into bespoke work may cost more than it earns. Keep your eyes on the prize.
3. Hustle creates momentum – and momentum makes it easier
Momentum played a crucial role in The Insights Family’s early success. Nick described the moment of meeting a former colleague over a pint, realising the kids’ media space was being disrupted by legislation, and quickly pulling together a business case.
The early MVP wasn’t perfect - far from it - but it was enough to validate demand, and that gave time to build the tech behind it. One client led to another. Word spread. They were soon scaling across the US and Europe.
Takeaway: Speed matters more than perfection. Get a version of your product out, and let the market shape it. Movement creates opportunities that sitting still never will.
4. Culture breakpoints happen – be ready to reset
Nick talked candidly about how culture starts to shift at different team sizes, especially around 30 and 50 people in his experience.
As the company grew, so did the complexity - new governance structures, more demanding clients, higher expectations. People who are perfect at 10-person scale aren’t always the right fit at 60.
Look after and reward those early team members who, without them, the business would not be where it is today; but be honest with what is needed.
L&D is also key - ensure it’s embedded as it tends to be the first thing to be cut when financials are challenging.
Takeaway: It’s OK to shuffle the pack. The team that gets you off the ground isn’t always the team to take you through scale. Recognise when roles outgrow people - or vice versa - and build for where you’re going, not where you started.
5. As a founder, know your levers
Perhaps the most insightful part of the session came when Nick described a turning point in his journey: where he finally made a “strategy for himself” - not just the business.
He realised that as founder and majority shareholder, he had more levers than he thought – but he’d never really stepped back to understand which ones mattered most to him personally. Work-life balance? Taking money off the table? Future exit timing? “If you don’t know your levers, someone else will pull them for you.”
Takeaway: Take time out to understand what you really want from the business, and what trade-offs you’re willing to make. When you’re clear, you’ll negotiate better, build better, and lead with conviction.
6. Stay rooted in community, and build where you belong
Nick was unequivocal about his choice to build in Manchester: “I couldn’t have built this business anywhere else.” Unlike London, where “the city owns you”, Manchester gave him a sense of connection, accessibility and freedom to grow on his own terms.
He also highlighted the importance of Manchester’s supportive tech ecosystem - and called for greater investment in regional clusters, transport links, and founder-first support infrastructure.
Takeaway: You don’t have to be in the capital to build something exceptional. Play to the strengths of your city, invest in your local network, and don’t underestimate the power of building close to your values.
Final Reflections
Nick’s honesty was refreshing. From burnout to board dynamics, he didn’t gloss over the strain of building something meaningful. But his closing message was hopeful: “Once you get momentum, things do get easier. Just stay true to what you’re building, be strategic about risk, and don’t be afraid to fail fast and move on.”
As he has now transitioned from CEO “being the planet”, to founder board member “part of the ecosystem surrounding it”; as well as supporting other tech companies and working with universities on new innovation programmes, his journey continues - but on his terms.
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Scaleup Sessions is all about sharing the lived experience of scaling - the highs, the lows, and the bits that don’t make the headlines. Nick’s story reminded us all: success isn’t a straight line, and building a business is as much about personal evolution as it is about products and revenue.
If you're a founder, especially one navigating growth, we hope these lessons help you step back, zoom out, and build a little more deliberately.
Keep an eye out for our next Scaleup Sessions coming in the Autumn. Sign up to our mailing list to be invited.
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Nick Richardson
Nick is a commercially focused innovator who specialises in turning ideas into scalable businesses. Following a successful commercial career in strategic marketing and insights, Nick founded The Insights Family, which has grown to become a pioneer in global market intelligence. As CEO he led the business from £0 to £4.5m in less than 5 years, with a client base that includes Amazon, BBC, Danone, Disney, Ferrero, LEGO, Paramount, SEGA and Warner Bros. He also succeeded in raising more than £7m in investment from angels, trade and VCs.
Nick continues to be a significant shareholder of The Insights Family and supports the business in a strategic capacity. In addition to his work at The Insights Family, Nick works as a Non-Executive Director to a number of companies and works with GM Business Growth Hub as an Ambassador and Mentor. In 2025 he was appointed as Entrepreneur in Residence at the University of Greater Manchester.
Nick has received significant recognition, including an honorary Doctorate in Innovation from the University of Greater Manchester, shortlisted as a regional finalist for the coveted EY Entrepreneur of the Year, listed as one of the 50 TechBlast Stars, selected as a member of the inaugural Northern Leaders Futures list and lead The Insights Family to be named MarTech company of the year in 2023.
DAC Beachcroft
DAC Beachcroft are a leading law firm, with a national technology law team who support technology companies across various sectors. You can find out more about their technology and digital related services here: https://www.dacbeachcroft.com/dacb-tech-offering
