Audio specialist Ted Fletcher reckons industry expertise is nothing without a firm financial footing

Rock 'n' roll and business don't always mix well. But renowned audio electronics designer Ted Fletcher has been in the music industry for more than four decades, working with the likes of Jethro Tull, The Eagles and The Who after launching his own sound mixer manufacturing company in 1969.

He sold the business but continued to make audio equipment and also invented, for Motorola and Vodafone, the first hands-free mobile phones for use in cars.

Fletcher has learnt things along the way. "The most important thing is getting the idea right and then making sure you have the wherewithal to go ahead with it as a business plan," he says. "In other words, you should be properly financially based."

He believes a lack of financial grounding affected his previous companies. "I've had success, but the success probably could have been quicker and bigger if I'd practised what I preached," he says. With his latest project, Orbitsound, Fletcher is balancing his flair for invention with solid business planning. A partnership with two former investment bankers, the company produces audio equipment with spatial stereo sound technology, providing high-quality sound without a need for two speakers.

Following critical acclaim at trade shows and successful test marketing in John Lewis stores, Orbitsound recently secured strong equity investment. Fletcher now plans to launch the products worldwide and to license the technology to other manufacturers.

Alongside financial considerations, it's also important to stay fresh, he advises. "You've got to keep reinventing the company, reinventing the product, reinventing the way you sell it... everything."