Discipline must run in parallel with Innovation

31/03/2015

High growth companies are disproportionately innovative to those that are not, and whilst I believe creativity is the ultimate source of competitive advantage, I must caveat my views. The importance of embedding a culture to allow free thinking that stimulates new ideas is well documented. However, without control you end up with pet projects, loads of possibilities and hundreds of potential initiatives that absorb time, energy and resource. Large companies have processes to deal with their ideas pipeline, but in smaller high growth businesses the danger is that there is too much innovation and entrepreneurship and not enough control and discipline.

Commercial problems potentially loom when there is too much lateral thinking and lack of order. Jim Collins in Good to Great uses a very powerful phrase – “Disciplined Entrepreneurship”. This embraces the notion of balance – innovative thinking and behaviours being guided within a framework of performance measures and KPI’s.

Too much Discipline – then a disconnection with customers, markets and new possibilities takes place

Too much Entrepreneurial flair – nothing gets done because everyone is bouncing off the walls with great ideas

Successful high growth companies tend to have a disciplined approach to new idea generation and implementation – a form of commercial filter. I often wonder how much smaller high growth companies can teach large corporates about innovative thinking and entrepreneurship. The reverse is also important – how can big companies help ambitious founders embed better housekeeping within their organisation? Feels like a powerful learning forum!


A decade of supporting high growth businesses

11/03/2015

This year marks Winning Pitch’s tenth anniversary of being in business. The very reason I founded our organisation was to provide the tools to create, build and support individuals get the most from themselves and their companies. To achieve our mission it was imperative that Winning Pitch demonstrated an authenticity that could never be challenged, in other words we practiced what we preach. Ten years on, I am very proud to announce that we have worked with some 6,000 companies. Those we have supported over the past two years have grown 4 times the rate of GDP, the average change achieved in net worth, following Winning Pitch help is 335.5%, their balance sheet value has also increased by more than £181.96m. Impact on local economies is so satisfying to observe, Winning Pitch assistance has delivered approximately 5,000 new jobs. As a business we have reached revenues in excess of £10M and over 100 full time employees across the North and rest of UK. These impacts are testament to our core beliefs of authenticity, trusted adviser and an ability to deliver.

There is no finishing line in business and complacency is a danger zone that every entrepreneur should avoid entering into. After a decade of passionately supporting the entrepreneurial business, we ourselves have moved up a gear in terms of our growth plans and ambitions. Helped by a £2.5M investment last year, I am delighted to announce a new look Winning Pitch – one that’s aims to deepen even further our profile and brand in the SME growth space. Growth SMEs are going to be even more important to local, regional and national economies over the next decade; they are the job generators, the source of innovation, graduate jobs and foreign earnings. I want Winning Pitch to be at the heart of making these businesses succeed – with clarity of vision, superior propositions, strong leadership and teams, an ability to live in the customers world as well good housekeeping and financial strategy and control, everything is possible.

I want to carry on supporting individuals to grow and helping the next generation of stars to accelerate their performance and win. More specifically, we want to give more attention to those companies that can scale their operation. These are the businesses with global potential, they become bedrocks of local economies by delivering jobs, this in turn helps communities to prosper and thrive. We will be placing increased emphasis on this unique set of companies, whose business support needs are more sophisticated and complex to deliver.

I look forward to another ten years of innovation and obsessive focus on unlocking entrepreneurial ambition. We will continue to build and expand the Winning Pitch entrepreneurial community by giving courageous individuals the trusted guidance they need to achieve both profitable growth and a business they can be proud of.


John Leach – An interview with Global Innovation Magazine

03/02/2015

This interview with John Leach, Non-Executive Director of Trustech was published in the Global Innovation Magazine.

Click here to read the rest of the article ‘NHS Manchester – Global Healthare Innovation

John Leach is a non-executive director of Trustech and is a well-known speaker on business and innovation as well as being a lecturer of entrepreneurship.

Do you think that the NHS on the whole ignores the revenue it could bring in through innovation?

Yes. There’s more that we could extract from the NHS in terms of enterprise, knowledge and Intellectual Property and I think that’s also the case with surrounding universities. There could be and should be a better way for value extraction without taking away the quality of care that the individual receives. More could be done. The real challenge is cultures colliding.

Is part of the issue that NHS staff are measured on performance and not innovation?

That’s the point. There are a couple of Trustech innovations that have come from clinicians, consultants. That takes a very enlightened person. People join the medical professions with the aim to make sure that their patients leave the hospital fully intact. They’re not looking at value creation.
If we can find those role models and we can find those individuals that have done it, then we can expose those heroes that have been able to balance commercial with science, with healthcare. It then makes it real to others. You can do both. It’s not wrong to do both. We don’t celebrate the success enough.

What’s the solution?

One way you address this is to create communities of people that have done it. That have been successful in the innovation process. Create a community of people that have come-up with an idea and got it to market. A community that is willing to share experiences and talk to others. That for me is where the gap is.

Trustech started in 2001, where is healthcare innovation in the UK heading now?

We shouldn’t underestimate what has already been achieved. With initiatives like Citylabs and hopefully a move into other parts of the UK, we can start to bring it together by creating conversations with those that have already capitalized on their innovations. Growth essentially. You get entrepreneurial growth by pulling people together. A fast-track learning environment, a safe environment to share experiences and ideas. That’s where it’s at, that’s what Trustech offers.

How has Manchester become a global hotspot for healthcare innovation? It’s a combination of academia, access to Europe’s biggest hospital site, research, a readily-available skilled workforce and determination, all being pulled together by the innovative approach of Trustech; an NHS organization.

Find Trustech at http://www.trustech.org.uk


High growth entrepreneurs have an innovation department

26/08/2014

Business incubators have become a common feature of public sector enterprise support in recent years; many of these establishments have proved to be highly effective in nurturing early stage entrepreneurs. They don’t just provide a desk and somewhere to turn up every morning, their added value comprises: a place to network, share ideas and collaborate. The really good ones offer mentoring and coaching, this is often what makes the real difference between success and me too performance. In many UK regions, incubators have become a hot bed of exciting new businesses, the potential employers of graduate talent – Autonomy in Cambridge is a fantastic example.

This concept of incubation needs to feature prominently in the culture and mindset of winning businesses – any ambitious entrepreneurial company should have a “department” or function responsible for building a pipeline of new thinking that delivers potential new revenue streams or adds value to existing customer experiences. I don’t mean a department literally – it’s about having an organisational process that brings together thinkers, doers, sellers and controllers, one that not only develops new ideas but also implements the commercially viable nuggets that emerge from the process of discovery. The concept of incubation delivers a major thrust for gaining an edge in the market place.

It is my opinion that creative intelligence is the ultimate source of competitive advantage – high growth companies tend to be disproportionately more innovative than the rest of the SME population. They explore, embrace diversity, live in their customer’s world, experiment with new possibilities and avoid complacency by making creative thought a habit, not something they do once a fortnight on a Friday afternoon. It must form part of an organisations “soul”. 


Disciplined entrepreneurship

12/08/2014

High growth companies are disproportionately innovative to those that are not, and whilst I believe creativity is the ultimate source of competitive advantage, I must caveat my views. The importance of embedding a culture to allow free thinking that stimulates new ideas is well documented. However, without control you end up with pet projects, loads of possibilities and hundreds of potential initiatives that absorb time, energy and resource. Large companies have processes to deal with their ideas pipeline, but in smaller high growth businesses the danger is that there is too much innovation and entrepreneurship and not enough control and discipline.

Commercial problems potentially loom when there is too much lateral thinking and lack of order. Jim Collins in Good to Great uses a very powerful phrase – “Disciplined Entrepreneurship”. This embraces the notion of balance – innovative thinking and behaviours being guided within a framework of performance measures and KPI’s.

Too much Discipline – then a disconnection with customers, markets and new possibilities takes place

Too much Entrepreneurial Flair – nothing gets done because everyone is bouncing off the walls with great ideas

Successful high growth companies tend to have a disciplined approach to new idea generation and implementation – a form of commercial filter. I often wonder how much smaller high growth companies can teach large corporates about innovative thinking and entrepreneurship. The reverse is also important – how can big companies help ambitious founders gain a better handle on their organisation? Feels like a powerful learning forum!


Great teams drive growth

05/08/2014

It’s really sad to see how many businesses fail to realise their full potential. Is it down to poorly defined value propositions, bad design, poor sales and marketing or financial control…sometimes it is. My view is that a company’s growth prospects are inextricably linked to the rate at which the founder, team and leaders can develop themselves. Businesses make transitions at key points of their journey and if the management fail to personally address these changes and the extra demands placed on them, then the “growth ceiling” very quickly presents itself.

It starts with the leader’s ability to undergo personal change and continuously adapt their style and approach to overcome the challenges faced along the journey – self awarenessWP Team image is a must have for all entrepreneurs. In a high growth business the founder has to be clear on what they are good and bad at and build a team around them that compensates for their own personal shortcomings. The inability to delegate is the classic dilemma faced by so many individuals running their own business. This is the very reason why so few companies go on to employ more than 25 employees.  Organisational development is a pivotal part of achieving growth, and what do the VCs keep telling us? – it’s all about the team.

My advice to any high growth business/entrepreneur is get the right people in the right seats doing the right things. Having the wrong people doing the right job is so common, and if we are honest with ourselves virtually all of us have been there and got it wrong, big time! A company without an effective team delivers sluggish performance at best – gazelle performance? Not a chance.

Embracing a learning culture and environment where personal improvement is encouraged and supported is non negotiable, but of course this takes time. Staff and the team are the most important component of any business. When we get the right team in place almost anything is possible. Without it growth is stunted and blockages appear – these blockages manifest in long working hours, customers being let down, poorly managed contracts, finances going off the rails, quality dipping, disgruntled staff, poor communications – a feeling of rabbit in the headlights, can’t see the wood for the tress, all familiar clichés entrepreneurs have come to live with. The antidote is investing in people and staff.

Getting the organisational structure and team right is a difficult job and perfection is challenging to say the least. Your organisation is only as good as the people who are part of it, and remember the organisational and team effectiveness will dictate your rate of growth.


Do you have a competitive edge?

17/06/2014

The school of thought that assumes all high growth businesses are technology based is wrong. Fast-moving companies display an edge that connects with their customer’s world, one filled with imagination, inspiration and fresh thinking. Their founders and teams have an inherent ability to spot a niche, an unfulfilled need or problem demanding a solution.

Gazelle performance can be achieved by repackaging a traditional idea. The fusion of a diverse range of business models to produce a whole new experience is a skill high growth entrepreneurs have perfected.

Focusing on activities that don’t necessarily bring in revenue can also attain the edge. However, they do position the organisation head and shoulders above the rest. In other words they produce a wow factor. Leading experts in creativity would claim that 95% of a company’s point of difference is achieved by as little as 5% of what it does.

High growth businesses excite their customers by displaying their edge with passion and clarity. Companies must avoid falling into becoming a “me too” market player – this drives down margins, the cheapest wins, a sort of spiral descent very difficult to recover from.

So how do you find the edge? It starts with the mindset of the leader – old world tells us to think outside the box. My recommendation is to get rid of the box because it does not exist – eliminate limiting beliefs, self-imposed boundaries and negative influences that restrict your ability to think. Find a coach or a mentor who will help you fill the pipeline with new possibilities. Find your 5%!


Freshness of thought drives great ideas

03/04/2014

The term “thinking outside the box” is a constant irritation for me. Easy to say, hard to do – how do you do it? Get to the route cause!

Don’t fall into the trap of routine. Repetitive behaviours will deliver a mindset that lacks vision, imagination and creative spirit. When we do the same things day-in day-out we establish a routine, this state of mind both inhibits and prohibits new possibilities. We find that the same old problems surface and bizarrely we think that by doing the same thing over and over again the results will be different. We must be aware of our habits as they become hard wired into our daily schedule. The manifestation of routine is that we experience a sense of monotony, feeling of being stuck in a rut, poor self-confidence, low energy levels and loss of purpose and direction.

Everyone experiences these feelings at some point, however we can take some simple steps to rewire our thinking. Emphasis must be placed on constantly searching for stimulus – things that will disrupt habitual behaviour, strengthen our creative muscles and deliver a freshness of thought;

Alternative perspectives – constantly look at your challenges from different angles – ask yourself “how would your role model address the issue?”

Remove yourself – from the daily routine and spend one day a month do something completely different.

Connect with nature – spend time in the open air and appreciate the wonder of the countryside. Combine this with regular exercise, it provides a boost to our energy levels. It also helps us to value our existence.

Don’t Think – don’t pre judge the outcome of any situation. Just observe and detach yourself from comment. By not thinking you clear your mind.

Take a look – observe what your peers do and share experiences with them. Wherever possible engage with people from other cultures, religions and regions of the world.

Five simple practices will act the fuel for fresh thinking. Doing away with routine is a liberating experience. It energises us, and keeps us motivated to perform at high levels.


Sort out your credo

28/01/2014

I have seen some fantastic academic work in recent years on leadership – Jim Collins, Stephen Covey and all the other usual names. A plethora of tools, techniques and matrices aimed at helping the ambitious entrepreneur become a better leader. I am guilty of being one of the many individuals to come up with new thinking on how to excel at leading others!

The reality is, it’s so damn difficult pulling everyone in the same direction, getting people to buy into your vision, aligning individual skills with the needs of the business, expecting everyone to be as passionate as the founder – just accept it, no one is ever going to be as passionate as the founder of a business. One thing for sure is that as a company grows, a leader/leaders must develop a rulebook – it should be a concise set of statements that defines – how we do things around here! If an employee does not like the rules – it does not make them a bad person, it just means they don’t belong to the community. Modern management science talks about values and behaviours in my own world I call this a rulebook – golf clubs have them, religious societies have them…and many more. Organisations that have been around for hundreds of years have a rulebook of some description! I can almost hear readers cringing at this phrase.

As companies grow – a rulebook is needed to define what is and what is not acceptable. As a company heads towards 7, 20 and 50 employees the people dynamics change and a “way of doing things” needs to be established – if not you end up with a tribe and not a team.  For me this is one of biggest challenges leaders of growing businesses face – embedding an ethos/philosophy of what is and what is not acceptable.  Managing people, emotions, needs, desires and aspirations, then connecting them with the purpose of a business is so difficult.

Try putting together a rulebook then sharing this with senior managers and staff. Institutionalisation (you may wish to use other words) is a necessary part of creating a long tem sustainable business – a challenge for any leader! Don’t forget you must live by the rule book yourself, if not why should colleagues and staff?

See our company values here >>>


Enterprise Rehearsal

21/08/2012

Why is it a large proportion of the workforce want to work for themselves but only a few actually go for it? My view is that fear holds so many back – the fear of not being able to pay the mortgage, have holidays or enjoy nights out at weekends. The key challenge to overcome is getting yourself conditioned to recognising there is no pay cheque going to land in your account at the end of the month. This can often be the biggest barrier to going forward.

Well there are other ways of thinking about being your own boss and indeed rehearsing before the big performance. Speaking from experience I have found that an interest or hobby can be turned into a small business. I remember some twenty odd year ago when taking the plunge was just not an option but it was a burning desire. A young family, and mortgage meant that rehearsal was the only way, and gosh did it pay dividends. Turning a passion for contemporary art into a small business taught me loads about suppliers, customers, doing the books, VAT returns, dealing with awkward people – the list goes on.

These experiences can help so much in the conditioning process and with very little outlay can unleash a profitable stream of revenue. There are opportunities that so many of us just overlook, here are some ways you can rehearse:

– Buying and selling on eBay

– Car boot sales

– Take a market stall at weekends

– Take a stall at an art/antiques fair

– Buy a small property do it up and sell it

– Explore the buy to let market

– Look for innovative products overseas, find an outlet in the UK

– Turn your hobby into a weekend service e.g photography

I feel that some of these tiny nudges can get us thinking more entrepreneurially. The markets in the UK are desperately trying to encourage more traders and we should not over look them as the training ground for the next generation of entrepreneurs – maybe feels a bit Del Boy and Rodney but from humble beginnings big things can result.

After all you only need to look at the Sunday Times Rich list and I know for a fact a number of them built their fortune starting from a market stall.