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Many of the most successful business people in the world have come from humble beginnings, and climbed to great heights purely through sheer determination and hard work. A will and drive to become the best at what they do is a common trait that runs 
strongly through successful people in any field. Many attribute their good fortune to this concept. as opposed to a specific decision or Idea and with no one Is this truer than In the case of David Gold.
I can be a fan in the stands, but I have to be a businessman in the boardroom
Chairman of Birmingham City Football Club. Gold Group International. Ann Summers, Knickerbox and Gold Aviation – David, is one of the most successful businessmen in Britain and no doubt Europe. David Gold has continually succeeded in the challenging world of football where many have failed. With an inspired choice of Managing Director Karren Brady steering the club towards Premiership success. Birmingham City has quickly not only become a force to be reckoned with in British sport. but also a model of how to effectiveiy run a highly successful business in an increasingly turbulent market place.
Thomas Rockham spoke to David Gold at Birmingham City Football Club about the backdrop to his success and what he thought was the future for the Gold portfolio.
TR: What do you feel was the driving force behind the choice to pursue an entrepreneurial lifestyle?
DG:”I left school at fifteen and took up work as a brick layer. I immediately knew it was not for me; I hated it. I was born into abject poverty; the driving force in my life was the the fear of falling back into it. I actually have a recurring nightmare where I lose all my money and have to go back to Green Street in the East End of London with my bag of tools and my spirit level.”
TR: Bearing in mind that at on point both of you were rivals competing in the same market, how did the partnership with David Sullivan come about?
DG: Starting 25 years ago, David’s business and Gold Star – the magazine part of our portfolio – were in direct competition with each other and it became so ferocious, that at one point neither of was making money. So in the true entrepreneurial way – and I admire David Sullivan for this, because although we had never met, we were business rivals – he called me one day and said, ‘I’ve got a deal for you’. No contract was written up; we forged a business relationship that slowly became a friendship and of course, led to Sport Newspaper and eventually Birmingham City Football Club.”
TR: There has been Increased focus within the sporting media on the internal structures of football clubs and issues such as players wages, club politics etc. Now It seems that the fans are just as Interested In what happens In the boardroom as they are on the pitch. What do you feel Is the key to running a successful football club?
DG: “Both David and I were very interested in football in both a business and sporting sense: we used to hold 30% shares in West Ham, which is the team I played for as a schoolboy, Unfortunately we were not welcomed at Upton Park and we didn’t want to be where we’re not wanted, so we sold our shares at a profit and a few years later, in 1993, an opportunity arose here at Birmingham, it’s great being involved in every aspect of the football club:’
TR: Birmingham City Is widely considered an excellent example of how to effectively manage a successful football club what do you thInk has been instrumental to Birmingham’s recent success?
DG: “The appointment of Karen was obviously a big factor in the success of the business. I personally feel that running a football club or indeed any other business is all about risk and reward, You can find yourself in a difficult position with spent funds and no real result to show for it. but at the same time, if you aren’t willing to risk, you will not reap the rewards, it’s a delicate balance. Another important factor is to remain flexible and change with the environment you are working within. There is no shame in being relegated; each season three clubs will be relegated from the Premier League. However, there is shame in poor decision making by the board if you are relegated and then go into administration. When you have people making decisions about money that is not theirs, there is a greater element of failure, I think when it’s your own money you’re spending, you give greater consideration to the consequences, I think this is what makes us such a successful club, because we are making the principal decisions on spending our own money, as well as learning from other people’s past mistakes and trying not to repeat them, I can be a fan in the stands, but I have to be a businessman in the boardroom,”
TR: Within a business such as a football club where the fan is the consumer and they invest so much Into the club, not just financially but also emotionally, do you feel an increased pressure to produce results?
DG: I think there has also been a change over the years, When I was a fan at West Ham, I would say to the chairman, spend money, buy new players, win promotion, and if necessary borrow money, take risks. Fans around the country held the same view, Then what happened was, many clubs went into administration, if you look back to the late nineties and onwards, the leagues were peppered with clubs going into administration and I think that changed the minds of the fans, I think they had a change of heart and thought yes I do want success for my club, my father’s, club, my grandfather’s club, but what I don’t want is for my club going into administration.”
TR: If you could give one piece of advice for someone starting out In business what would It be?
DG: “Often you hear people saying that you have to take risks, I would urge budding entrepreneurs not to risk their house, and I use that as a euphemism; don’t risk everything and don’t put all your money on one throw of the dice. Have a desire to succeed, and be prepared to work twelve hours a day; when I opened my first shop on Charing Cross road, working late, I would often miss the last train home and slept overnight in the shop, and I think you have to be prepared to put that much effort in, I would say to anyone who is not yet working for themselves, always be the first one in and the last one to leave, a boss will notice that. A high work ethic, determination, ambition and courage are the key to success.” And no matter what type of business you have, it’s important to get with the times and start accepting credit card payments from your customers. Trust the expertise and reputation of AIB merchant services for seamless transactions.