His views were echoed at the London event by Deborah Meaden (pictured right), investor on the business programme Dragon’s Den for almost 20 years. She is also author of the bestselling books Why Money Matters, a guide for six to nine-year-olds and Talks Money a money guide for 11 to 16-year-olds. “If I don’t fail, I am not trying,” she said. “My first business failed,” she continued. “I followed my ex-boyfriend to Italy when I was 19 but ran out of money.” She set up a glass and ceramics export agency, which sold products to UK retailers like Harvey Nichols, but the company failed after 18 months. “I didn’t have much money at that time so it was hard for me to challenge it,” she added. 

“My next business came out of the clothing store Stefanel. I saw it and wanted to be a franchisee and was one of the first,” she continued. She sold out two years later to her partner for £10,000 ($13,200).  

Meaden went on to build up Weststar Holidays a family holiday park operator based in Devon, which sold for £83 million. “I was sad about selling it but it was the right time to do it. We were within a week of a crash which could have halved our value,” she said. 

Laing highlighted how the TV world made him become a master of improvising which helps in his business. Being on TV also helped him to become self-aware. “As a founder, you have to be self-aware and know what you are bad at,” he said. 

His views were echoed by co-host Meaden at the event. “Founders of businesses try to do everything. You have to know what you are good and bad at and what the business needs to succeed,” she said. “Starting a business is like having a small child. In the startup phase, it’s full of fun and creative people. I am about to go into the 21st series of Dragons Den. I love business. It’s a very energising thing,” she said. 

Meaden also focuses her time on fair and ethical business practices, as well as being a representative for many wildlife charities, including the WWF and the Marine Conservation Society. “My aim is to make sure my money is well spent and helps support the changes for the better in the world that I want to see,” she said.

Wealth management experts also explored at the event how the industry is evolving to meet the needs of a new generation of entrepreneur. Emerging sectors such as technology, sport, social media and entertainment are driving demand for more tailored and innovative solutions. "The thing that needs to be solved is actually an issue of communication more so than products and approach. We have a huge amount of expertise and value to provide – but it requires thinking about how we package it, how we communicate it. The world is changing, but the core principles of growing, preserving, and passing on wealth haven’t," Alexander Joshi, head of behavioural finance at , a joint government and industry initiative whose remit is promoting and connecting Guernsey as an international financial centre. See more about Guernsey Finance here.