Lyn Ayrton, managing partner of Lake Legal, a specialist family law firm
What was your best investment?
The biggest and best investment I’ve made was the decision to set up my business, Lake Legal. Running your own business and developing a talented team around you is hugely rewarding.
Are wise investors born or made?
A talent for investment and business is based on an ability to take calculated risk. The best entrepreneurs can assess an opportunity and act quickly to take advantage of it. This requires a pragmatic approach and a self belief that you don’t see in everyone.
Do you believe it’s become harder for entrepreneurs to make prudent investments since the crash of 2008?
If you have the right mindset you can always find the positive in any situation. Lake Legal was launched in 2009 and we found that great deals were available on everything from property to advisory and banking fees.
What advice would you give to entrepreneurs who are looking to make a major investment?
It is very important to choose advisors who understand you and your long term goals. If you have people who understand what you are trying to achieve, they will support you on your journey, even when its bumpy.
What’s the worst investment you’ve ever made?
If you want to make a lot of money from the property market, just do the opposite of what I do! I’ve eased my pain by looking at property as a home rather than an investment.
What lessons did you learn from your worst investment?
You should look at your portfolio of investments and income in the round rather than get hung up on any one particular area.
Are there any sectors you feel should be avoided?
I have strong beliefs around ethical investments and would avoid anything which conflicts with that, such as animal testing. It is more important to be proud of how you live your life than turn a quick profit.
What was the best piece of investment advice you’ve received?
I saw Sahar Hashemi, founder of Coffee Republic speak many years ago and one thing she said has guided my approach to business and investment, “There is no safety net, sometimes you just have to take a leap.