Ryan Dempsey, founder and chief executive of The Compliance Workbook, shares his entrepreneurial mindset journey
When I was sat at home, looking at hundreds of compliance documents which would eventually require my signature to confirm the correctness, I couldn’t help but think there has to be a better solution.
I mean, we recently shot a satellite from Earth which travelled for years to land on a comet travelling at thousands of miles an hour. Yet here I was looking at similar documents over and over again to confirm the data was correct and that there was no risk to the client I was passing these documents to.
The entrepreneurial mindset shift
I believe these are the moments that trigger the so-called Entrepreneurial Mindset Shift. Seeing an opportunity and then looking realistically at how you can develop it is one of the first steps in true innovation. I just couldn’t help but think a solution to free up my time was so justified and logical that I had to do something about it.
I believe the hardest part of the journey once you’ve decided to do it, is creating the actual idea. Don’t for one moment think that entrepreneurs who have created some of the most innovative packages, ideas or software did it on their own. You have to find people as crazy as you are to give it a go off the back of whatever pitch you have knocked up!
My co-directors always say the reason they came on board was down to how passionate and knowledgable I was about compliance, about changing the world to make people better at what they do. They believed in me, and here we are building the dream, and find ourselves winners of the high profile Global Business Award 2020 for Outstanding Innovation.
The importance of technology
I would never have guessed that a few years down the line there would be an international pandemic where so many people across the globe find themselves housebound.
That the ability to communicate data between different departments to show risk mitigation, compliance or competence insights would be so disjointed and that TCW would naturally fall into place as the glue for our clients. This wasn’t in my original two-page business plan, which I googled to find a template.
Every organisation has a mass of documents and service records that holds information about the good, the bad and the evil within their ranks. The ability to see deeper is so important and technology is always there to help with this. Knowledge-based insights will always fall higher than assumption-based ones and we have a duty to keep improving how we manage our information.
Also, in times like this, we find ourselves looking for different ways to work. If ‘business as usual’ is never the same again and there’s a dint here forever, entrepreneurial mindsets will change the world.
The question is, are you the next person to stick your head above the parapet and design or help progress the next piece of tech that transforms construction?
CEO and founder
Please note: this is a commercial profile.