Collaboration is key to competitive advantage

13/07/2012

How times have changed in the past ten years. Companies I would have viewed as major competitors at the turn of 2000 have now become close allies – we are sharing knowledge, IP, business ideas and revenue streams. It strikes me that collaboration is very much embedded within the mindset of the forward thinking organisations I meet on a day-to-day basis. Those that hold their cards too close to their chest will almost certainly miss out on new business and product opportunities. Collaboration can present itself in many formats:

  • Businesses with complementary skills coming together to bid for large contracts – one where the mix of expertise and geographical coverage offers massive benefits to a customer. This can be achieved as a consortium or through what is commonly referred to as a special purpose vehicle (SPV)
  • Companies fusing complimentary products and services to create a new offering – WP did this several years ago, we took creative expertise of a University and combined it with coaching techniques to create the highly successful Winning Pitch TV (WPtv) – a great example of HE working with a SME
  • Euro Garages one of the North’s most successful companies brought together petrol stations with Starbucks and Subway franchises to build a new experience in filling the tank.
  • We see it everyday on the motorways with Starbucks, M & S and other high street chains teaming up with service operators to create a new service station break – this used to be a joke in terms of food quality, now, very different
  • Large pharma companies engaging with smaller niche R & D operators. A much nimbler and cost effective route for multi nationals to build their innovation pipeline

Fundamental to collaboration is a win- win attitude, there has to be a common goal, a shared vision, a sense of trust and purpose, fair commercial gain for both parties. Working as I do everyday with high growth companies, its very clear that those entrepreneurs who think partnership are opening themselves up to so many new possibilities.  Stay awake, think about who you can collaborate with, the only warning is, be sure why you are doing it and what’s in it for both of you!


There are good things happening!

15/06/2012

The constant doom and gloom we hear through the media really is not very helpful to the entrepreneur out there trying to build a life from him/herself and family. The reality is for many of us, the Euro crisis and all that other stuff going on does not have a direct impact on the success of our company. You can’t change what going on in world markets, so don’t get drawn into it, focus on the things you can effect.

Live in your own “micro climate” – staff, market, customers, new products, think differently, experiment with new ideas, discover new partnerships, think collaborate!

There are good things going on and despite what the media says there is help for SME’s, the new BIS service – GrowthAccelerator (www.growthaccelerator.com) is a great example of a fantastic service that will help entrepreneurs to build a better future – help for planning and strategy, innovation and getting yourself ready for investment…….

There are good things going on and smart people are doing great things – please can we celebrate a bit more!


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?


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.


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!


Lloyds TSB Enterprise Awards

01/03/2012

The banks have had a bit of a kicking over the past few years. However, let’s be fair and look at some of the great things they are doing. Earlier in the week I was fortunate enough to judge and speak at the Lloyds TSB Enterprise Awards – an initiative designed to seek out the best university students and graduate entrepreneurial talent. It was an inspiration to listen to young people with ideas and the motivation to build a business rather than go down the traditional route of trying to find a job.

Universities have an important role to play in preparing individuals for the next stage of their career, equipping them with the ability to write a 5,000 word dissertation is just not enough. Conditioning graduates to consider the option of setting up their own business is vital – is it any riskier than trying to find a job? probably not!

The young entrepreneurs I met, had ideas, put them on paper and then rolled them out – they were generating revenue and jobs. The winner of the Best Enterprise, Adam Soliman of Charbrew was a top lad, his head in the right place. The Best Start up – Peter Van Neste of Stagetex had a clear handle on his sector and the finances of his company.

The reality was, all of the finalists were high performers and an inspiration to other graduates, more specifically the finalists :

-had clarity of what they wanted to achieve

-were innovative and displayed an edge

-displayed the invisible forces of passion, hunger and determination

-lived in their customers world

-had a grip on the importance of finances

The finalists must be showcased – they are role models and an example of what can be achieved if you just get your head around the idea of being your own boss. Come on universities wake up – Lloyds TSB, great, you have clocked the potential of graduates and their ability to create and generate wealth!


Our Hi-Tech Future

05/01/2012

This was the title of yesterday’s speech delivered by David Willetts, Minister of State for Universities and Science. It was positive to hear that science and technology lies at the heart of economic growth policy, something which I passionately believe in. Even more encouraging was the recognition that science and the arts are truly complementary. My blog The Enlightened Company (20th February 2011) reflected on this very point, some of the global technology brands of today were formed by fusing the skills of arts and science graduates. It is diversity that drives innovation and hopefully this recommendation will stimulate debate between arts and science faculties, the resultant effect being new possibilities, innovations and products – maybe a Google or Twitter?

The speech also communicated the strength of the UK’s research on the global stage and the fact that we publish more articles per researcher than the US, China, Japan or Germany. Whist this maybe the case, I do seem to recall that we are not up there when it comes to commercialisation of this research. Enhanced entrepreneurial mindset and orientation lies at the core of economic growth fuelled by science and technology focus. Much to be learned from the West Coast of the States.

Science and technological excellence is fine but if the patents, know how and IP end up overseas or sitting on a shelf then it does no good for UK jobs and growth. Greater effort needs to be directed to getting HE to think more about the commercial impact of what they do. It’s not just about spinning out companies but…how do academic staff  gain a better balance of research and selling their knowledge as consultants, attaining greater utilisation of assets that sit idle…… encouraging entrepreneurial thinking of post grads – creating more ideas and mind to market.

The reality is many university professors and academics frown upon enterprising forays and suffocate new possibilities even before they see the light of day.

A greater entrepreneurial culture will be vital to the successful execution of David Willetts’ strategy.