People
Published: July 3, 2023 | Updated: 30th June 2023
As a senior lecturer at the University of Winchester – where he holds not one, or two, but three degrees of his own – business veteran Steven Northam has a difficult task.
“Students often say to me, ‘Steve, I want to be an entrepreneur’, like it’s some sort of job role.
“I don’t think you can really teach someone that.
“It’s about having the drive, the passion, the belief that you can achieve things – you want to go out and do them.
“I think you’re either going to be really good at it or you’re not. You can learn the skills along the way, but if you’re entrepreneurial, you’re entrepreneurial.”
After all, Steve’s own business journey didn’t begin sat at the back of a lecture hall.
“I started out when I was 14”, he explained.
“At the time I was into early gaming, and just as eBay was coming about, I found I could import games consoles from China and sell them for a massive profit before they were released in the UK.
“That was my first jump into making some money for myself, and it was something I was already interested in as a teenager.
“And that’s what I pitch to my students now, or anyone.
“Pick something you’re passionate about, something you’re good at, and build a business around it. Don’t chase money – it never works. It’s simple stuff.”
When he was their age, Steve was pouring his student loan into camera equipment and taking professional photos at nightclubs, while what little remained went towards a modest supply of beans on toast.
That then branched off into event planning – foam parties, paint parties – which in turn required security staff, which Steve also got to organising.
“There’s often synergy between my projects”, he explained – and no more so is that true than in his proudest venture to date.
“I started investing in student business ideas, Dragon’s Den-style. Helping them set up companies.
“Some of them didn’t work, some got in trouble – that’s what happens working with students.
“So I had all these different companies, doing all sorts of weird and wonderful stuff.
“That’s where Incuhive came from.
“This is way before coworking was a thing, and I thought, ‘let’s house them all together in a fun workspace where they can all help each other’.
“The first site I opened eight years ago was Chandler’s Ford, and that was predominantly filled with companies I owned, or student startups I’d invested in.
“Then we rented space for some external businesses, so they could bring in ideas and help the students.”
It was fellow Hampshire businessman Mike Worley who first took a punt on Steve’s plan, letting him set up rent-free in Chandler’s Ford for a short while in the hopes that Incuhive would soon begin turning a profit.
And although that may have taken a couple of years, the company has been steadily growing ever since, with Steve handing over the reins to current CEO George Scott-Welsh in 2022.
“It was a really fun project. I learned a hell of a lot doing it and met a lot of different people”, he said.
“I was able to take Incuhive from a back-of-a-napkin concept all the way through to multiple sites.
“But I realised I could step back and it still works.
“That was a really important lesson early on – to delegate tasks – which is difficult as an entrepreneur.”
Making that move has given Steve the time and space to pursue some of his more ‘bonkers’ projects, like converting an old Boeing 737 into an Airbnb featured on George Clarke’s Amazing Spaces.
It’s the first step in his plans for a novelty holiday home village, which could also feature an armoured truck and a series of train carriages.
But while Steve has plenty of high-flying ideas nowadays, it’s his students and coworkers who help to keep him grounded, and his investment in their success goes beyond the financial.
“I was talking with a student recently who set up a jet wash cleaning company. He told me he’s made 600 quid already since the summer holidays started.
“There’s also a YouTuber I invested in, Paul Wallace, who runs Super Cars of London.
“He loves cars, loves filming and driving them, so it’s not a job – he just wants to go out and do it. I’m always blown away by his drive and passion.
“And I’m often enthused by the startups who have joined Incuhive and gone from a one-man band renting a desk to being hugely profitable.
“It’s awesome to see all these companies flying through, and it’s the same with my students – seeing them graduate, build a business, and just keep pushing forward.”
