Valerie Scott

Carly's been in fashion for 30 years. I'm qualified in accounts, finance, and systems procedure. We met 10 years ago. I was the third shareholder with Carly and her business partner at Match Marketing, but there was a minority shareholder's dispute and the business went into receivership. We set up Icon Live in January 2002. We had a point to prove.

I never doubted us. It wasn't a risky decision to start up a business. That might sound a little naïve, but I had complete confidence in Carly. We funded the business ourselves and found fantastic business angels. They believed in us, they backed the individuals and not the business.

In the first few years we worked seven days a week at all hours. But that helped our personal growth. The position we came from, out of receivership, taught us that we don't necessarily have control over external factors. You've got to be upbeat about the knocks you take—they tend to shape the business. We based the business on honesty and integrity. I think the rapid growth is driven from those core values.

Carly and I make time for one another. We discuss our personal objectives and how we'll achieve those. It's like a marriage; we're committed to one another. But our differences are vast—there's an age difference; our interests aren't the same.

We share a huge admiration for our staff and we give them clear, concise direction so they can take ownership of what they're doing. Our leadership styles are similar: we work really hard and don't carry anyone, but we also play hard.

We've never got to the point where we've had to settle a disagreement. We're always asking one another's opinions. Somehow, the result isn't one or the other; it's a mutation of both of our views. It gets the best of our skills—I would hate Carly's job and she would hate mine.

I admire Carly's passion. She's determined and focused. She can turn the ridiculous into a sublime dream. She's a true entrepreneur. I'm not too big to appreciate that you always need an ideas person and I'm not necessarily that. You have to buy me into something, but after that I'll make it happen.

I can't do anything if I'm not proud of what I do—it was the same with the sports in which I competed. I'm still motivated by creating a business for which someone really wants to work.

Carly Read

Valerie and I have worked together since 1996. We complement each other. I'd had an issue with my previous business partner and we went through something like a divorce. Things do go wrong, just like a marriage, but Valerie and I don't conflict. To use an analogy; I'm the driver, the engine of the business, and she's the fuel: she greases the engine. She'd hate me interfering at her end and vice versa.

It was doubly difficult starting up again after the receivership because you're not going to the banks as a new business.

In hindsight, I'd have got to know my prospective business partner a lot more. I'd also have a shareholder agreement in case it gets messy.
Valerie and I re-mortgaged to finance Icon Live and a business angel put a substantial amount in. It's grown organically since then to reach a turnover of £46m in 2005/6. Our personal ambition is to take sales to £100m and secure global opportunities at stores like Walmart.

We have a flattened management structure because there are restraints with a pyramid. It gives people opportunities for personal growth so they're not alienated from the business. They can see that they can progress to the top.

I'm 21 years older than Valerie, but I have an unquenchable thirst for learning and am an avid reader of business books. She played basketball for England and was a competitive showjumper. My sporting achievements ended at school.

We know each other quite well now and have become very close friends—on paper, we shouldn't be. We couldn't be more different. But we've gone into battles together and have come out together.

If Valerie doesn't know how to do something, she'll jolly well find out. I admire that in her. She's gregarious and good at working a room full of strangers to find the person she feels might add some value.

We're holidaying together for the first time this year. She'll prefer a restless five days while I'll go for reading a book and listening to the lapping water. We may finally find out what we find irritating about each other!