In this week’s Business Bytes, host Garry Kelly talks to Henry Woodman, a tech entrepreneur and angel investor with a rich background in travel and technology. Henry shares his early travel experiences influenced by his father's career, his transition from producing travel films to pioneering virtual reality in the hospitality industry, and the eventual sale of his tech company. The discussion highlights the evolution of the travel industry, the impact of technology, and Henry's current pursuits in the entertainment sector, including a...
In this week’s Business Bytes, host Garry Kelly talks to Henry Woodman, a tech entrepreneur and angel investor with a rich background in travel and technology. Henry shares his early travel experiences influenced by his father's career, his transition from producing travel films to pioneering virtual reality in the hospitality industry, and the eventual sale of his tech company. The discussion highlights the evolution of the travel industry, the impact of technology, and Henry's current pursuits in the entertainment sector, including adapting a story written by his father into a screenplay. The episode emphasises innovation, adaptability, and following one's passions.
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Timestamps
Introduction to the Podcast (00:00:00)
The host introduces the podcast as a GK Media production.
Guest Introduction (00:00:05)
Garry introduces Henry Woodman, highlighting his diverse career and interests.
Discussion on Travel Passion (00:00:23)
Garry expresses envy over Henry's travel experiences and asks about his early travel bug.
Influence of Family on Travel (00:01:15)
Henry shares how his father's career in travel inspired his passion for exploration.
Fascinating Travel Experiences (00:01:45)
Henry recounts a thrilling adventure in the jungles of Honduras during his teenage years.
Father as an Explorer (00:02:53)
Henry describes his father's adventurous spirit and his involvement in the international explorer society.
Career in Travel Production (00:03:10)
Henry discusses his journey from travel films to working with major airlines and cruise lines.
Transition from Travel to Tech (00:04:27)
Henry explains how he pivoted from travel production to virtual reality and technology.
Innovation in Virtual Tours (00:05:22)
Henry shares his early experiences with non-linear editing and the creation of 360-degree tours.
Evolution of the Business Model (00:08:20)
Henry discusses the shift from production to tech platform, focusing on content distribution.
Impact of Technology on Travel (00:09:03)
Garry and Henry reflect on the changes in technology and its effects on the travel industry.
The Future of Technology (00:10:09)
Henry speculates on how technology will lower barriers and create new challenges in business.
Challenges of Digital Marketing (00:11:23)
Discussion on the noise in digital marketing and the struggle to maintain audience engagement.
Selling the Company (00:12:31)
Henry shares his experience of selling his tech company and the financial outcome.
Learning Through Experience (00:13:24)
Henry reflects on the lessons learned while building his company and preparing for sale.
Negotiation for Sale (00:14:15)
Henry describes the negotiation process with a major international company for his business.
Timing of the Sale (00:15:14)
Henry discusses the timing of his sale just before the pandemic impacted the hospitality industry.
Tax Implications of Selling (00:15:28)
Garry inquires about the tax implications of selling a business in the U.S.
Entrepreneurial Relief in Ireland and the UK (00:15:56)
Discussion on tax benefits for entrepreneurs in Ireland and the UK.
Corporate Structure and Tax Avoidance (00:16:07)
Henry explains the importance of corporate structure for tax implications during a sale.
Negotiating from a Position of Strength (00:17:09)
Henry describes the advantages of negotiating with strong revenue and market position.
Personal Changes After Success (00:18:29)
Henry reflects on how financial success has changed his perspective and stress levels.
Traveling for Pleasure vs. Work (00:20:27)
Henry shares how travel experiences differ when not tied to work obligations.
Making a Movie or TV Show (00:21:19)
Discussion on Henry's lifelong dream to produce a film or TV series.
The Story of "The Reincarnation of Murray" (00:21:30)
Henry introduces the concept of his new project based on a historical figure.
Exploring Themes of Love and Karma (00:25:37)
The series poses questions about soulmates, karma, and reincarnation.
Pressure in the Film Industry (00:28:13)
Henry discusses the lack of financial pressure while pursuing his creative passions.
Shifts in the Film Industry Landscape (00:30:11)
The conversation highlights changes in the film industry and opportunities with new platforms.
The Changing Landscape of Entertainment (00:30:30)
Discussion on how studios once controlled distribution, now streaming services dominate.
The Experience of Movie Watching (00:31:36)
Challenges of watching movies at home versus the immersive experience of cinemas.
Engagement in Content Production (00:32:06)
Need for engaging content due to audience distractions like phones during viewing.
Creating a Complex Narrative (00:32:25)
Using jigsaw puzzle analogy to describe intricate storytelling in series production.
Reflections on Life and Acceptance (00:33:24)
Philosophical thoughts on life’s journey and eventual acceptance of its complexities.
Emmy Nominations and Industry Changes (00:33:35)
Henry discusses his Emmy nominations and the evolving nature of the film and streaming industry.
Promoting 'The Reincarnation of Marie' (00:34:16)
Encouragement to explore the project’s website for more information on the story.
