🎙️ Interesting Humans Podcast - Episode 44: Dave Cormack, Owner of Aberdeen Football Club
Host: Jeff Hopeck
Release Date: March 17, 2025
Introduction
In Episode 44 of the Interesting Humans Podcast, host Jeff Hopeck sits down with Dave Cormack, the owner of the Aberdeen Football Club. Dave's journey from a modest upbringing in Aberdeen to becoming a successful entrepreneur and football club owner is both inspiring and insightful. The conversation delves into his early life, entrepreneurial ventures, management philosophies, and personal experiences, providing listeners with a comprehensive look at what makes Dave a remarkable individual.
Early Life and Upbringing (00:00 - 06:27)
Dave Cormack shares his childhood experiences growing up in Aberdeen, Scotland. Born in January 1959, Dave was raised in a tenement in downtown Aberdeen, a living situation that profoundly shaped his values and work ethic.
Notable Quote:
"My mom's family had been living in these rooms since 1919. There was no running water, and everything was shared among extended family members. But we were happy and very family-oriented."
— Dave Cormack [03:50]
Dave recalls the challenges of his upbringing, including limited amenities like shared toilets and the absence of running water. Despite these hardships, the strong sense of family and community played a pivotal role in his development. He fondly remembers weekends spent with cousins and aunts living in the same tenement, highlighting the importance of familial bonds.
Career Beginnings and Entrepreneurial Spirit (06:27 - 16:23)
Dave's professional journey began in accounting after completing an HNC in the field. His career took a significant turn when he joined a computer software company in the early 1980s, igniting his passion for data and technology.
Notable Quote:
"I fell in love with data and the ability to develop reports and analysis that could be used to drive business decisions."
— Dave Cormack [08:59]
In the mid-1980s, Dave and his wife Fiona moved to London to pursue greater opportunities in the burgeoning software market. This move set the stage for Dave's future ventures. In the early 1990s, Dave co-founded a reporting software company that secured a major client, Nestlé, providing the financial stability needed to expand.
Key Business Ventures: IQ Software and MiracleWorkers.com (16:23 - 24:17)
Dave's entrepreneurial journey is marked by significant ventures such as IQ Software and MiracleWorkers.com. After selling his initial software company to IQ Software, Dave played a crucial role in its growth, eventually merging it with another public company around 2000.
Notable Quote:
"We won two of three major deals by collaborating with Oracle, which gave us the platform to scale our business significantly."
— Dave Cormack [12:34]
In December 1999, Dave launched MiracleWorkers.com, an e-recruiting platform for healthcare, during the dot-com boom. Despite the NASDAQ downturn, the company thrived, selling to Headhunter (now CareerBuilder) just as the market collapsed. This strategic exit allowed Dave to pivot to new ventures, including Brightree, a cloud platform for home care and medical equipment.
Brightree and Scaling to Success (24:17 - 38:32)
Dave took over as CEO of Brightree in 2004, transforming a struggling company with £600,000 in revenue and significant losses into a thriving enterprise. By focusing on sales and operational efficiency, Brightree grew to £130 million in revenue with a 45% EBITDA margin before being sold for £800 million in 2016.
Notable Quote:
"We became cash flow positive in 15 months by driving sales and optimizing our operations, which ultimately led to the successful sale of Brightree."
— Dave Cormack [22:28]
Dave emphasizes the importance of hiring and retaining talented individuals, stating, "Hiring and retaining people that are better than me is key to our success." This philosophy not only propelled Brightree's growth but also laid the groundwork for his subsequent ventures.
Ownership and Management of Aberdeen Football Club (41:12 - 58:03)
Dave's involvement with the Aberdeen Football Club began with a sabbatical after selling MiracleWorkers.com. Recognizing the club's financial struggles, he and his partners invested to stabilize and revitalize the team.
Notable Quote:
"Our goal is to give back to our home city and ensure that Aberdeen remains a proud and competitive football club."
— Dave Cormack [42:30]
Dave shares the strategic initiatives implemented to enhance fan engagement and commercial revenue. One standout program is Aberdna, aimed at fostering a lifelong connection between young fans (under 12) and the club. This initiative has successfully attracted 11,000 primary school children, significantly boosting attendance and membership.
Business Model and Strategies for the Football Club (58:03 - 57:35)
Managing a football club presents unique challenges compared to traditional business ventures. Dave outlines his approach, focusing on both the football performance and the business side to ensure sustainability and growth.
Notable Quote:
"We run by key indicators and outcomes, not by the hours people put in. This ensures that everyone's efforts are aligned with the club's goals."
— Dave Cormack [35:01]
Strategies include improving commercial income through enhanced hospitality services, increasing merchandise sales, and securing lucrative sponsorship deals. By prioritizing youth development and fan engagement, Dave has successfully doubled the club's commercial incomes and increased game attendance by 30-35%.
Personal Life and Philosophy (65:06 - 76:23)
Dave balances his professional endeavors with a fulfilling personal life. Despite his demanding career, he prioritizes family and maintains healthy habits, such as regular walking and exercising.
Notable Quote:
"Life is a journey. I've worked hard, but I'm now focused on enjoying life with my family and giving back to my community."
— Dave Cormack [70:37]
He reflects on his entrepreneurial journey with humility, acknowledging moments where he could have been more present with his family. Dave emphasizes the importance of integrity, curiosity, and a passion for what you do, principles that have guided both his business and personal life.
Health Journey and Recovery (65:13 - 69:46)
In a candid discussion, Dave recounts a critical health event in February 2023 when he underwent a triple heart bypass surgery. Despite having no symptoms, a routine medical scan revealed the need for immediate surgery, which Dave credits to proactive healthcare.
Notable Quote:
"I dodged a bullet by getting the surgery in time. It was a shock, but it underscored the importance of listening to your body and seeking medical advice promptly."
— Dave Cormack [65:19]
His recovery was swift, allowing him to return to his active lifestyle within weeks. This experience reinforced his belief in staying active and maintaining a balanced life.
Philanthropy and Community Engagement (77:02 - 79:12)
Beyond his business and football endeavors, Dave is deeply involved in philanthropic activities. He and his wife Fiona support various charities, including Children International and Grassroots Soccer, reflecting their commitment to giving back to the community.
Notable Quote:
"Our foundation focuses on providing 'a hand up' rather than a handout, empowering individuals to improve their lives through education and opportunity."
— Dave Cormack [73:12]
Their charitable efforts in areas like medical education and adolescent health demonstrate Dave's dedication to making a positive impact beyond his immediate business interests.
Closing Thoughts and Advice (76:23 - End)
As the episode concludes, Dave offers valuable insights for aspiring entrepreneurs and listeners seeking to balance professional success with personal fulfillment.
Notable Quote:
"Surround yourself with high-integrity people who know more than you do. It’s essential for growth and achieving your goals."
— Dave Cormack [32:10]
His advice centers on hiring the right people, maintaining a clear mission, and fostering a supportive and transparent work environment. Dave's story is a testament to resilience, strategic thinking, and the importance of community and family.
Conclusion
Dave Cormack's journey from a tenement in Aberdeen to owning a successful football club and thriving businesses exemplifies determination, strategic vision, and a commitment to community. His story offers valuable lessons in entrepreneurship, leadership, and maintaining a balanced, fulfilling life. Listeners are left inspired by Dave's accomplishments and his unwavering dedication to giving back to his roots.
For More Information:
- Aberdeen Football Club: Official Website
- Brightree: Official Website
- Children International: Official Website
- Grassroots Soccer: Official Website
Connect with Dave Cormack:
- LinkedIn: Dave Cormack
- Twitter: @DaveCormackAFC
This summary captures the essence of Episode 44, highlighting Dave Cormack's multifaceted career, personal anecdotes, and the philosophies that drive his success.