Jake Spence is the managing director of durhamlane, having joined the organisation nearly ten years ago. He has worked with several blue chip companies such as Sodexo, Xero, Hewlett Packard, Deloitte, and Aviva, leading the business in the technology, software, and manufacturing sectors. Mr Spence has a background in project management, sales and business development in consumer financial services and insurance markets, he has played a key role in building the success of the business and ensuring the transition towards furthering performance cultures.
What was your first job (and how much did it pay)? Suit salesman in Debenhams department store. Minimum wage, working evenings and weekends.
What is the best advice or support you’ve been given in business? "Cash is king". I was sat at a dinner with a business leader who told me this probably ten years ago. Not a new one by any stretch of the imagination, but how he delivered it has always stayed with me. I could tell he was someone who had a tough time and had learned that lesson the hard way. Now more than ever, this is important for everyone to keep front of mind.
What are the main changes you’ve seen in your business/sector, and what are the challenges you’re facing? Demand for ROI in breakneck speed. People looking to demonstrate a ROI in a timescale that is faster than their sales cycle. Sales cycles elongating: deals having to go through multiple validation points while the decision-making unit is growing. And generative AI is playing a huge part in changing our industry. Ensuring we’re ahead of the curve to enhance or supplement our service is critical.
What would your dream job be? Assuming I’m too old and not gifted enough to play in the premier league or on the PGA tour, as an avid gardener and a hug golf fan, I’d do well as a greenkeeper I think!
What advice would you give to someone starting out a career in your sector? Quality x quantity x consistency = high performance. This is a mantra we have here at durhamlane. It’s not technically difficult to create a promising pathway for yourself in sales, but it is very hard work. Lots of high-quality work done consistently will help anyone stand out from the pack, but consistency is always the hardest part. To be consistent you must find a way to enjoy it and recognise the small wins. I’ve always been data driven, so understanding the mechanics of a sales cycle has allowed me to be able to find successes in less obvious ways.
What makes the North East a good place to do business? The North East has diverse talent, competitive costs, and strong community support for businesses. Transport links are good and improving all the time, and there's a growing ecosystem of innovation across key industries. The access to universities and the growth and opportunities that come with that is fantastic for companies looking to scale. At durhamlane we serve customers around the world, so I feel lucky to have the universities we do here in the North East, attracting diverse and multilingual talent to the region.
How important is it for business to play a role in society? It’s so important for businesses to play a role in society, because businesses have the resources and influence to drive positive change. Supporting local communities contributes to long-term economic and social well-being in the region. Everyone should want that for their area - it’s about creating value beyond profit.
Outside of work, what are you really good at? I studied Fine Art at university, so I enjoy painting and drawing. I have a five year-old daughter who enjoys it too, so it feels easier than ever to create time to do it together. People and portraits are my go-to, but I enjoy anything creative. A small group of our durhamlane team attend ‘Drink and Draw’ on a Tuesday evening at Ernest Café Bar in Ouseburn. It’s always eye opening to see the hidden talents of your colleagues.
Who would play you in a film about your life? Ryan Gosling. He’s known for his work ethic and dedication. He seems very adaptable and like me, he has a strong nose. If someone were to play me, it makes sense to choose someone who looks better than you do too!
Which three people would you invite to a dinner party, and why? Jurgen Klopp, Salvador Dali, and Tiger Woods. First and foremost, I believe you need to consider the group dynamic. Each of the above are known for their wild side. The night out we’d inevitably have after the dinner would be crazy! I’m a Liverpool FC fan, an avid golfer and I’ve studied the work of Dali. Each of them are masters of their craft, I’d have a lot of questions for each of them.
