Let's Get Down To Business: Steve O'Connor, River & Rowing Museum

STEVE O’Connor, 42, is the director of the River & Rowing Museum in Henley. He lives in Ancastle Green and is married to Sarah with two young sons. He is a former club rower but says he’s more of a seasonal one these days.

Describe your operation

I lead the River & Rowing Museum, a charity which exists to tell the river’s story. We use galleries and educational activities to inspire our visitors about the non-tidal River Thames, the town of Henley-on-Thames and the international sport of rowing.

How many people does it employ?

We have eight full-time staff and 15 part-time as well as a volunteer board of 14 trustees.

What did you do before?

I founded a charity in London called Fulham Reach Boat Club in 2013. By the time I left in July it had become a £1million turnover business working with more than 2,000 people a year.

What is your objective?

Simply to reach an operating break even position by March 2027 (not straightforward to achieve). This year, I’d like to increase our visitor numbers and I’d like to shout more widely about all the good work that is going on here.

Who or what influenced you?

What attracted me to the museum was the challenge to get this much-loved institution back on its feet. I’d been visiting for years and always thought it was bursting with opportunity. Now I’m getting to try to make it happen.

Do you have a mentor or role model?

I have a mentor who was set up through an organisation that pairs mentors with new chief executives and we’ve been working with each other for a number of years. It’s invaluable to have that critical friend in your corner.

What would you do differently if you could start again?

I would have delegated much more quickly and started with a finance director. I enjoy interpreting the numbers but it works best for me when an Excel whizz can ensure they come together correctly first time.

How is your operation doing?

We’re ahead of budget for this year but still in an overall loss position given the closure we experienced for the first four months of the financial year. Over the next three years we should reach break-even.

Do you compare on a regular basis?

We produce a monthly set of management accounts and I try to make sure that I always know how much cash is in the bank to within £5,000.

How do you market the museum?

We use a lot of digital marketing and have added PR to our mix, meaning that we have gained some national attention. Word-of-mouth is still the most powerful tool.

What’s the best thing about running your own
operation?

Knowing that, ultimately, I’m responsible for everything that happens under the roof. This can be stressful at times but having that level of accountability also means I have the power to sort something out if I don’t think it’s right.

What’s the most challenging aspect?

Keeping quality communications going, both internally and externally.

How important are online sales?

We recently launched online tickets and this should soon allow us to get the online shop up and running.

What would you advise someone starting a business?

Make sure it’s something you genuinely care about. There will be hurdles so you might as well enjoy the industry you are in.

What three qualities are most important to success?

Know your numbers, have a vision and lead well.

What’s the secret of your success?

Just doing the basics really well. Turn up on time, work hard, do your homework, aim to improve each day, be nice to people, be organised etc. None of that takes talent, just a bit of good old-fashioned effort.

What’s the biggest mistake you’ve made?

The biggest ones have all been around how I handle people in the team that are underperforming and not being candid with them early enough. It’s always a tough conversation to have but one that shouldn’t be put off.

How organised are you?

Quite often I block out chunks of the day to focus on a particular task rather than trying to fit things in around meetings. I also believe in working quickly so am a fan of a 10-minute meeting.

How do you dress for work each day?

Smart casual. For me it works to be smarter at work than when I am at home.

What can’t you be without every day?

Coffee in the morning.

Lunch at your desk or going out?

If I have lunch it is normally a quick sandwich from the museum café or something from home, normally at my desk.

Do you continue to study?

I’m hoping to start my MA in museum studies in the near future and am always on the lookout for courses. Business podcasts are also a brilliant way to learn from those that have done it before.

What do you read?

Normally sports autobiographies or something similar. At the moment I’m reading The Lost Art of Running.

How are you planning for retirement?

I have a workplace pension I’ve been paying into throughout my career and we are working to get our mortgage paid off as quickly as possible to free up money for further investments.

Interview by Will Hamilton, intermediary and global marketing consultant, Hamilton Associates