Josh Bunce is founder and CEO of the iuf Group, trusted by iconic global brands to capture and retain audience attention with creative AV solutions. A serial entrepreneur and investor, Josh is on a mission to create a new retail world using innovative, practical and sustainable technology.
- Tell us about yourself, Josh.
Today, I’m the CEO and founder of the iuf Group. After leaving school, I worked as an estate agent for 2 years before quitting to become my own boss – I knew I wanted to start a business, but I wasn’t sure what to do so I went travelling to find ideas, funding it by selling local items through sites such as eBay. During this time, I also had to overcome my dyslexia and begin to understand the business world and how it works in order to find my way.
- What does the iuf Group do?
The iuf Group consists of several tech-focused brands that provide industry-leading AV technology including AV and interactive solutions, IoT solutions and LED and LCD displays, on a global scale.
Based in London, the iuf Group incorporates the brands inurface Media, Xi UK and Xi US, Merson Digital, Bauer Digital, ADT and Hubit. Clients use all, one or a combination of the Group’s brands to ensure their goals are met. Altogether, the business supports clients in over 30 countries, employing more than 60 engineers and installing an average of 1 billion LED pixels each month.
With clients in retail as well as experiential events sectors, the iuf Group invests in forward-thinking brands and focuses on high-growth and scalable startups that can add real value.
- How did inurface media start?
I’ve always been fascinated by business and what makes a business successful. During my time travelling and testing business ideas, I gained experience that helped me with my longer-term goal. My aha moment happened in a pub in Australia when I saw a digital screen on the wall that made me think I could do something with this technology back in the UK – and when I returned to the UK in 2008, I launched inurface media.
Over the course of the next 12 years, I grew the business and transformed it into the iuf Group it is today. My family invested two thousand pounds into the company at the start and I was off, growing it from a couple of screens in a local Bristol coffee shop into a full digital signage company with the help of school friend Henry Boydell who supported the technical side of the business.
We did whatever it took to get the business off the ground and it wasn’t long before we’d set up in a box room in a high-end office in order to leverage their image, and began doing deals with brands on Oxford Street from our Regent Street space. There was no looking back.
- What’s been your biggest lesson and the biggest challenge?
One of the biggest lessons I’ve learned is to trust your team – never underestimate their potential and always give them room to grow with the business. For growth to happen, you need full commitment from people and everyone has to be aiming for the same goals, rowing in the same direction, and believing in the core values of the business.
You have to strike a balance when hiring – you want the best people but you’re a startup with a minimal budget. In the early days, I hired a few big hitters and ended up draining too many resources and not achieving my business goals as a result. I’ve learnt over the years that it’s often better to invest in good but inexperienced people who have the passion and drive to grow with the business.
One of the biggest challenges is inspiring people to get behind your idea and vision, and not doubt yourself. You can’t always know if your pricing is spot on when you get your first deal, but you feel your way and have self-belief. If we had moments of self-doubt, we’d adopt an inurface approach, similar to offering to wash someone’s car for free and telling them if they’re happy with the results they can pay the amount they think is fair. You can end up making more money than you expect this way!
When you have a good product and a good team, the best advice is to throw the beans at it and just go for it!
- What do you know now that you wished you had known before starting iuf?
To surround yourself with good people, you don’t necessarily need to hire the big dogs with all the experience but rather find the right people for your business to invest in and help to grow as your business grows. The same is true for operating systems – we use EOS now and I wish I’d known about this from the off as it’s brilliant.
I’ve learnt that it’s not the best approach to try to do it all yourself. Instead, find an expert for areas that aren’t your speciality as this saves time and boosts success.
When it comes to success, be prepared for the fact everything takes longer than you expect, and that you fail more than you succeed. Hold on to the bigger goal and keep bouncing back – and you’ll achieve real success in the end.
- What are your next goals and achievements that you’d like for growth?
We will continue to focus on the global brands keen to enhance their strategies and expand their store numbers, that want to grow so that the Group can grow with them. Alongside this, we will keep investing in and mentoring talent for organic growth and scanning the business horizon for companies that fit with our core skills and values and are ripe for acquisition to enable fast growth.
In 2022, the iuf Group is focused on global growth and becoming the biggest player in our space. During the past few years, we have slowly expanded into Europe and we launched in the US – in the coming years, we want to push our global capabilities.
On a personal level, I want to keep waking up and doing what I love – to keep growing the business until my last day on earth. I never want to sell; I just want to keep evolving the company.
- What advice do you have for budding entrepreneurs?
Go for it! And go for it right now – today or as soon as you possibly can. The younger you are the more able you are to focus on business without the extra distractions and responsibilities that come when you’re older.
The trick is to choose something you love, and work will never be boring again. Let your gut guide you but do something you’re passionate about. This is what I did, and it’s worked better than I could have imagined. Always look forward. I look forward to running my business every day, tackling new challenges, realizing new opportunities, and starting new ventures.
The other vital thing to do is believe in your idea and yourself. Only you can get to where you want to go so you need to power through and be prepared for the tough times – know that it’s okay to take a few steps backward to enable you to go forwards, sometimes.
