High Growth Foundation – A trip to Silicon Valley

18/05/2012

What delegates found in Silicon Valley was the theme of last night’s High Growth Foundation event – you could actually feel the entrepreneurial spark in the air at Manchester Airport’s Concorde Suite. I don’t think attendees actually realised that Concorde was going to be in the room – over 150 delegates sat under the fuselage and listened to what was a set of fantastic contributors. As always our resident compare Michael Taylor did a great job unlocking interesting stories from the massively enthusiastic Gareth Burton, fun loving Jim Clarke, and the practical go getting Janet Green. (On the side lines Liz Weston, a Winning Pitch friend and Foundation supporter was busily tweeting).

The setting for this event was symbolic of what the Foundation is all about. Our purpose is to support entrepreneurs who have the desire and ambition to move their business forward at supersonic speed but doing it within a framework of disciplined management and focus on key business processes.  Encouraging companies to deliver sustainable growth over a long period of time is what we are about. The session I feel was an effective antidote and reminder of not to take part in the doom and gloom thinking we have seen over the past months.

The event brought together almost one year of social media activity and events whose messages focused on thinking globally and thinking big, a state of mind that is finely tuned into “going for growth”.

One of the most effective ways entrepreneurs learn is by experience sharing:

Viewing what great looks like – strategy, raising finance, sales marketing

Speaking to other entrepreneurs – what went right what went wrong

Studying biographies of success – personal and business journies

Well in March this year 18 entrepreneurs did experience sharing in a big way. They went to Silicon Valley to observe how some of the most successful brands on the planet go about their business.

More to follow on insights from the West Coast!

Our guest speaker Scott Fletcher went down a storm – his messages focused on conditioning yourself to develop a positive mindset, create a great culture and look after staff.   He’s is a living example of an entrepreneur who has embraced the big thinking mindset.  As Chairman of the ANS Group, he has off the scale ambition and grown one of the Region’s finest businesses – one that has rapidly transformed itself from gazelle to gorilla.

Really chuffed great that Pannone supported this event, especially Lisa Conmy their very own passionate ambassador for the entrepreneurial agenda.


Non Executive Directors – Try before you buy!

10/05/2012

It seems very much the rage at the moment for companies to hire Non Executive Directors (NED). I am a big fan of these “outsiders looking inside“. They provide wisdom, guidance, help to raise the bar and introduce more robust systems and processes, help leaders make decisions and support change. In many instances an NED can help to open up new doors to finance and potential customers – help in the transition of growing up. If you are pursuing VC funding or PE finance then having a NED is often part of the deal.

One observation would be that many young companies appoint NEDs too early on in their cycle. They view them as the saving grace and the magic wand with all the answers. The reality is young fast growing companies should initially seek out a mentor or experienced person and trial the relationship before Companies House papers are signed. There are many individuals out there searching for NED trophies, it almost becomes their barometer for success – food for the ego!

My message to young growing companies who are seeking their new best friend, the NED, is be sure they can add value, be clear on where they can take you and most of all dont GIVE AWAY equity, people either buy or earn a stake in your company.


Gazelles – past and present (part 2)

02/05/2012

I wrote a blog a week ago that covered Harvey Goldsmith’s view of the Top 10 greatest entrepreneurs past and present (part 1). Here is the final listing from 6 – 10 and the insights I think are important for other ambitious people:

6. Harry Hyams (1928 – ) – a man who changed the face of commercial property. He built Centre Point in the 60’s and left it controversially empty for months. He was a man who got his timing right, stirred things up – a great example of success is often down to luck. Many would say he planned to be “lucky”

7.Bernie Ecclestone (1930-) – grasped the opportunity when he saw it. From selling cars to F1 supremo. The window of opportunity is presented to so many of us but how many grab it when it appears? It often only lasts for a short time. His vision and leadership is an inspiration to us all.

8.William Morris (1834-1896) – crafts and arts specialist who dreamed of improving the quality of life for British workers. He was a highly successful artist whose designs are still around today – the message is? Leaving a legacy and putting something back!

9.Lew Grade (1906 -1998) – a master entrepreneur in the entertainment business. Famous for pushing an idea across the finishing line – how many of us are guilty of losing faith in an idea when the first hurdle presents itself. Faith is such an important part of getting the idea into the market place. Sunday Night at the Palladium and Pink Panther were several of his major accomplishments.

10. Sir Martin Sorrell (1945-) Not had the best of press this week given the big salary. However, so many forget what this man has achieved. In the mid 80’s he bought a little company called Wire & Plastic Products – this became WPP. It emerged as a world-beating communications and advertising business. Annual revenues running into billions and profits approaching £1bn. How many others can say they have done that. Grit and determination are key ingredients of his success. So the press….get off his back, how short people’s memories are!