Entrepreneurial Learning

29/06/2012

I spoke at the Institute for Small Business and Entrepreneurship conference earlier this week. The theme was entrepreneurial learning in organisations. It was an extremely thought provoking session, that brought together fantastic academic minds on the theme of entrepreneurship.

As a keen observer of entrepreneurial learning and improvement, my view is that the UK economy will grow faster if more effective leaders are created and nurtured. Enterprise policy makers must recognise the importance of bigger thinking and greater ambition – a key component of leadership. Academic enterprise research needs to investigate in greater depth the emotional needs of entrepreneurs – the spirit and mindset. Setting up and growing a business can be extremely demanding. For entrepreneurial leaders balancing personal and commercial risk can be a debilitating experience – we must look at developing practical coping strategies to help leaders overcome the fear often associated with the stages of growth.

From my discussions with participants I was encouraged to hear that softer issues do appear to be attracting more academic interest. Topics such as developing an entrepreneurial mindset, coping, resilience, mental toughness, personal branding and faith must get on the agenda. These are all essential ingredients for leadership success. Practical tools to help entrepreneurs address these areas would be well received within the community – when the going gets tough, the tough get going. Entrepreneurs are courageous individuals who cope well with the lonely rollercoaster existence, helping them to live with high pressure moments would be a well-received antidote for those wanting to make a difference. I am extremely excited about the work ISBE is undertaking.


The hunt is on for high growth businesses

12/06/2012

In the last year 480,000 new companies have been formed. There are now 4.5 million people classed as self-employed – to varying degrees these are entrepreneurs who are laying the foundations for the recovery and the creation of jobs and wealth.

All over the country, in city centres, business parks and market towns a quiet revolution is underway. A new economy is being built on the explosion of growth from fast growing businesses.

The hunt is on for the high growth businesses who have the capacity and the ability to know they are doing well – they’ve grown through the tough period we’re living in – but they want more. GrowthAccelerator is here to help them.

These businesses know they are good at what they do – this new business support service will help them do even better and get bigger, faster.

It isn’t for everyone, GrowthAccelerator’s aim is to help these businesses double within three years, by helping a business to remove the barriers to growth and throw off the shackles of caution.

By placing an expert business coach with the right skillset, the relevant sector understanding or the right keys to unlock funding, GrowthAccelerator can truly boost business performance.

GrowthAccelerator is on the hunt for small and medium sized businesses in England with real potential for growth to help them achieve their ambitions. On business parks and in city centres high growth businesses with the energy and ambition to grow need help to accelerate that growth.

These businesses can be in any sector – can be in any city, but must share the ambition to grow – the impetus for growth could be a revolutionary new scientific discovery, propelling a major new invention from one of a major university, but equally it could be a fresh new retail concept or a traditional manufacturing operation with the vision to expand into the growth markets of Brazil, Russia, India or China.

What they need is a service that identifies the barriers to growth and helps install the mechanisms to overcome them. This is GrowthAccelerator.

The hunt is on for the businesses that need this level of support. They will improve cities, they will bring more business to their supply chains. This is GrowthAccelerator.

They will create jobs and wealth – do you know one? Are you one?


10,000 Small Businesses – Last Night

21/09/2011

I was delighted to part of last nights Goldman Sachs 10,000 Small Businesses celebration and first cohort graduation event. The results and growth achieved from the participating companies was very impressive to say the least. As usual I was observing what happens when a room full of ambitious entrepreneurs get together to network and share ideas and experiences – this is were real business advice takes place, in communities of like-minded individuals. The stimulus and input from other successful, been there done it, businessmen and women should not be underestimated either.

When ambitious people get together to share the pain and stories, remarkable things happen:

– The feeling of loneliness is less profound

– You get new ideas and different perspectives to take your business forward

– You get to hear about trusted advisers and networks relevant to your business

– You become introduced to new potential customers and collaborators

– Answers to challenges present themselves

– Your mind gets refreshed

– When you see others doing well you end up running faster!

These environments help to raise the bar of personal performance, training with the best is a very effective way to improve.

Congratulations to MMU on their facilitation of the activity and I am really chuffed to being part of this activity going forward. A great example of how public and private sector collaboration is the answer to growing new business talent.


Universities have much more to give

29/06/2011

As a Nation we should be extremely proud of the contribution our Universities have made to the progression of science and knowledge and our educational prowess is both respected and recognised throughout the world. Whist this maybe the case, there is no avoiding the need to cut costs, a fate that other public and private sector organisations have failed to escape. Plugging the budget shortfall and creating financial game plans to secure long-term sustainable futures have become of paramount importance to senior university managers

The one advantage which universities have that others don’t is the rich seam of potentially commercial propositions these span the spectrum of patents and licensing, through to revenue streams created through consultancy, R & D collaboration and spinouts. However commecialisation still remains a relatively low priority for university faculties. At the extreme some senior academics frown upon entrepreneurial forays with many sensible suggestions dismissed at infancy. A mindset change is needed and when costs are being cut plausible options of how to secure revenue from the commercial realisation should be investigated. For many academics seeing the application of their research in practice is a significant motivator, more needs to be done.

The Government has made it clear that transforming research into innovation is a priority and whilst UK universities have a strong record more needs to be done. This involves building stronger links between the UK’s science and research base and the business community, to create more spin-out companies, consultancy projects and research-funded programme

For this to happen a fundamental change is needed in promoting an entrepreneurial culture. In all fairness academics are not trained or prepared for the life of commerce. Very few have the unique mix of business and technical skills. Setting up a venture or selling knowledge and expertise is far more than creating a business plan – it requires attention to a broader set of softer skill which cant be taught, however they can be coached. Is it time for change?


Are business schools entrepreneurial?

21/06/2010

On my tours of the universities – I see engineering faculties doing engineering projects, I see medical schools practicing medicine. So why dont business schools set up businesses? Teaching business models and the hard skills of strategy  finance, IT, marketing, branding, product development is great – but entrepreneurs have something special – the spirit – courage, they build relationships, take action, have mental toughness and deal with setbacks – think on their feet – they are passionate about what they do – they have a mindset aligned to success. This stuff cannot be taught it has to be coached and to be honest I dont see a lot of it happening.

Business schools need to put their great thinking into action and help their undergraduates/post graduates explore the option of setting up companies – many set up departments of entrepreneuship and too be honest they are everything but. Are they equipped to be enterprising?