In today’s Power List profile, Johnny Sandelson – serial entrepreneur and the new owner of iconic Mayfair store Thomas Goode & Co. – discusses success, taking risks and learning from his mistakes, as he undertakes his ambitious programme to waken Thomas Goode – the ‘slumbering giant of British luxury’.

Johnny Sandelson is a UK-based entrepreneur, known for his work in the real estate sector and as one of the financial architects who shaped the regeneration of London’s Queensway. More recently, he is at the forefront of Auriens, the company transforming elderly housing in London. His interests also include the recent purchase of Mayfair store Thomas Goode & Co, with big plans for a global rollout of this iconic brand.

Entrepreneurship involves an element of risk; why is risk a necessary component to success?

Taking risks can scare people – but if there’s no risk there’s no barrier to entry, and therefore no opportunities that only certain people are prepared to take.

How can entrepreneurs also become great leaders?

Learn from your mistakes – and accept it’s possible to be a good entrepreneur without necessarily being a good leader. My role involves taking risks, making judgements, and inspiring, motivating, creating and deal making – these are not necessarily attributes of good managers. I therefore understand and value the importance of having a fantastic management team alongside me. I’m also still learning – my kids say that a lot!

thomasgoode.com