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!


The Silver Bullets – Rules for Gazelles

22/04/2012

Here they are, and they work!

  1. Create and craft differentiated propositions that stand out from the crowd – don’t compete on price, compete on difference
  2. Develop an effective vision, strategy and execute of a practical game plan – communicate this to the rest of your team – success is 20% thinking and 80% doing
  3. Drive innovation into the processes and functions of your company and always look at doing things differently
  4. Embrace change and see it as an opportunity to develop and introduce new propositions
  5. Build a great team – thinkers, sellers, doers and controllers – create a culture where values and behaviours are aligned to delivering great service both internally and externally
  6. Condition your mindset – coping with the challenges that come with growth means a Believe You Can (BYC) state of mind is vital
  7. Live in the “Customer’s World” and deliver services and products that capture their need and voice. Build long-term relationship and keep coming up with new ideas to address their challenges.
  8. Disciplined systems and processes need to be put in place – KPIs that provide a real time state of business health are vital. Key your eye on cash and how you finance your company. Get expert help.
  9. Become great at selling and put the sales engine in place – sales are the lifeblood of any organisations, sell what you believe in as well as the products and services you offer.
  10. Find connectors that can provide answers to the challenges you face – getting experienced mentors, coaches and non executive directors working to raise the bar of performance are an essential ingredient of success

Personal development is the ultimate source of competitive advantage – be aware of what you are good and bad at. Review how you are performing in relation to the Ten Silver Bullets !

 


Gazelles – past and present (part 1)

16/04/2012

There was an excellent article in the Weekend Mail a few weeks ago written by Harvey Goldsmith (entrepreneur and impresario). It catalogued his views on ten of the greatest British Entrepreneurs. I found it to be a smart account of those individuals, past and present business who have  made a profound impact on the UK economy.

The Governments new high growth service targeting gazelle businesses over the coming years will hopefully be the stimulus for creating more of these globally focused organisations. Here is the list and my own view of the insight we can gain from these incredible people:

1.Simon Fuller  – Entertainment Business (1960 -). A man of great vision who sees opportunities grabs them and just gets on with it. Avoids the celebrity limelight a real doer. Stop talking start doing.

2.Chales Dunstone – Mobile phones (1964 -) Carphone warehouse fame, a person with the courage and belief in his business model to take on giants such as BT and Vodaphone. Living proof that a small company can take on a big brand and win. Fortune favours the brave!

3. William Lever (1851 – 1925). The son of a Bolton grocer, with a social conscience. He built Port Sunlight for his employees and Unilever is now one of the biggest companies on the planet. Look after your staff and the rest takes care of itself.

4.John Sainsbury (1844-1928). The core idea that offering a little more quality than your rivals can go a long, long way.

5.Dame Anita Roddick (1942 -2007). Body Shop was set up at a time when more and more chemicals were finding their way into cosmetics and packaging was getting fancier. She swam against the stream and introduced her natural range of products – a global phenomenon building over 2,000 stores worldwide. Dont always follow the pack, have your own mind and think blue ocean

The next five to follow soon.


Global Entrepreneurship Conference – Get Lucky

14/03/2012

This was probably one of the best events I have been to for a long time. Sometime fantastic speakers, for me Lord Heseltine did the business, what an incredible man. His own entrepreneurial story was highly engaging, it came straight from the heart. He talked about how lucky he had been in his career, one that led to the creation of Haymarket Publishing, a global business with 2,000 employees.

Well on the note of luck, Harvard Business School have done their research and some really interesting findings have emerged. They claim that luck in business can be cultivated, through what they call lucky attitudes and lucky networks. They found that a lot of their entrepreneurs believed in and are extremely open to the power of serendipity – in other words a lucky attitude. They also have a wide network of relationships that at first glance may have little to do with business but somehow later come into great relevance.

Richard Branson’s off the scale mindset of creativity is testament to the power of being different. A common theme around loving what you do was woven throughout the day – passion lies of the heart of success, it keeps you going and is a vital ingredient to mental toughness. The Black Farmer Wilfred Emmanuel-Jones, hit the spot as well – going into business or growing a company means you have to overcome your fear, and you only live once, so go for it and be brave.

An amazing job done by Liverpool Vision and the broader Liverpool Community – so many other cities could learn from their ambition and visionary leadership. An example of public sector practicing what they preach.


High Growth, Charles Darwin and Silicon Valley

08/03/2012

Entrepreneurial high growth leaders can extract an enormous amount of insight from the great man himself, Charles Darwin. The ability to embrace change is such a vital ingredient to the recipe for accelerated performance.  Growing a company can sometimes feel like a fight for survival and there is so much evidence to suggest that those who adapt and change come out the other end fitter, stronger and more competitive.

This week I having been ranting on about the importance of nurturing better leadership skills. Companies will grow and create more jobs only when their founders fine tune their ability to build a strong team based ethos. Growing a business requires the essentials of both personal and business change, the former being the precursor to developing a thriving and winning environment. The requirement of the individual to embrace with confidence new situations and challenges is key.

On the theme of developing more ambitious leaders, this week marks a very important landmark for the High Growth Foundation. We are taking 18 entrepreneurs to Silicon Valley to see how businesses such as LinkedIn and Google grew to the size they are – global superstars whose leaders truly embraced the the power of change. My mate and highly distinguished journalist Michael Taylor will be out there with the group – reporting on what he’s observing the best do. Hopefully these insights will help not only the delegates but also other members of the Foundation and our broader community to nudge their bar of ambition to a higher level.

 

 

 

 

 


Controlled lunacy – a recipe for growth

24/02/2012

Are you MAD? This is often the reaction friends and family give when someone says they are off to set up their own business. Giving up the security of a well paid job and entering the unknown is often seen as a bonkers thing to do. Well if this is madness we need more lunatics. Very often seeing things that others cant is the first sign of going off the rails, however it’s also a trait of entrepreneurs who have a vision or calling to go it alone. A burning idea, new product or a solution they have found to a commercial problem. So often entrepreneurs see things that others cant!

One word of caution, this lunacy must be controlled and a safety net provided with solid advice, sound coaching to ensure all the cogs of finance, compliance, systems and processes are in place. So important, otherwise the wheels come off. Control that madness.


Businesses with soul and purpose

21/02/2012

I spoke at the Business Conference for Childcare Providers this morning – it was a fantastic group. The audience comprised a mix of private sector, social enterprise and volunteer groups. One thing that struck me was the passion and enthusiasm and giving nature of the people who turned up. They were individuals with a passion for what they do – a soul and purpose which focused on looking after children.

The theme was leadership in a changing economic environment, my messages revolved around the 10 principles of getting it right:

  1. Changing times need a change of mindset
  2. Create the right mental imprints with stakeholders and staff
  3. Be future focused
  4. Performance measurement & monitoring is vital
  5. Build a great team
  6. Put a credo in place
  7. Live in the “customers” world
  8. Gain the edge through innovation & creativity
  9. Great leaders have a mentor
  10. Practice the 4C’s (Condition, Coach, Communicate, Conform)

It confirmed my belief that businesses with a higher purpose have a greater chance of success. Many of us are searching for meaning in life and a sense of belonging. When we translate this quest into a commercial idea and balance it with good business practice then the results are amazing. Moreover, a business with a cause deals with the harder times much easier than those that don’t. Its so easy to pack up when things get tough – I feel that those companies with a soul and purpose have a greater chance of success!

 


Success Factor For High Growth Entrepreneurs

12/02/2012

Success Factor is my second book and it has not been given the attention it deserved over the last 12 months, the main reason being the focus on several major tenders. I am now back onto it, with bags of momentum.

I am a great believer that successful high growth entrepreneurs embrace the right mindset for success, here is the summary:

The ten steps to a winning mindset involve:

1.   Define your personal intentions and align them to the things you love doing. With this sense of purpose and clarity you can then begin the journey to achieving what you desire from your life, business or profession. Remember alignment must be achieved between personal and professional intentions – they cannot work in isolation.

2.   Prepare yourself for the journey by creating the right mental conditions. Resilience and mental toughness are directly related to your sense of purpose. If you give up after the first hurdle then your purpose is not strong enough! It wont be easy! Be careful about what you think about! That’s what you will get.

3.   Personal responsibility for your actions means that you will make choices and not sacrifices. Belief in yourself is a key part of the way to think – if you don’t believe in yourself then no one will! When things go wrong don’t fall to victim mentality as this gives rise to a whole series of self defeating internal discussions – become the master of your own destiny.

4.   Taking action must quickly follow all the thinking. Success is down to 20% thinking and 80% doing. Strategies emerge when we take action – strategy comes alive in the execution – it is this action that creates serendipity – people will often talk about getting lucky! Success Factor believes that luck is the product of intense activity and personal clarity!  We then start to walk the path of our destiny.

5.   Embrace the spirit of cooperation and working with a team ethos. Going it alone can be a tiresome and difficult journey. Caring and working with others can be the catalyst for us reaching our destination. Finding those who can support our shortcomings and plug the gap in our performance, can make things happen smoother and quicker.

6.   Learning to lead ourselves before we lead others is vital. Once self-leadership has been mastered the leadership of other can commence. This means we must foster an environment that create the conditions for success to flourish, we coach those we are supporting, we communicate with impact and we ensure those under our leadership conform to the rules.

7.   Playing by the rules is an essential part of long-term sustainable success – we must observe the value of humility and operating by a set of values that show caring for others and our environment. Practicing the philosophy of giving before we receive warm the hearts of others and is visible representation of the fact that we live a life of integrity – our reputation is often all we have to trade.

8.   Engaging with others and building win – win relationships is a vital step to success. By embracing a mindset that life is truly a pitch we begin to recognise that competition means that we have to sell to get what we want – this could be our skill and expertise, qualifications, talents or products and services. By active listening and marrying carefully our proposition to what others want – we start to build relationships

9.   A creative mindset helps us to truly stand out from the crowd. Creative capital is often viewed as the ultimate source of competitive advantage because it unlocks our imagination – drives innovative thought and delivers remarkable differentiated results. Keeping a fresh mind and outlook enables us to remain ahead of the game and become memorable to those we need to influence.

10.   Going the extra mile by doing things others wont do will get you remembered. Life has become extremely competitive which means there are far more applicants than jobs, more suppliers than contracts, less places on popular courses.  The only way to get the edge is by digging deep and going one step further than others.


Business Coaching for Growth

31/01/2012

High growth companies will deliver the jobs

The research clearly shows that a small number of ambitious businesses create a large proportion of new jobs. Vibrant economies are built on a foundation of high growth businesses, those set up by individuals with great ideas, passion and a desire to fulfil their full potential – we need more of them because they are the job generators of tomorrow! Also referred to as gazelles because of the speed at which they grow, these companies achieve growth rates of a minimum of 20% per annum over a three-year period. They emerge from both hi technology and mature sectors, can be small or large and they exist in all parts of the country.

Doing things differently is the thread that runs throughout the fabric of high growth businesses; typically they innovate and create new experiences in the market place. They stand out from the crowd and enjoy the enviable position of a differentiated business model not totally dependent on being the cheapest. They focus on the needs of staff, customers and shareholders in this order. Founders and teams are driven by making a personal and professional difference – this is what makes high growth companies so special.

If we are going to create more jobs then energy, effort and resources must be directed into supporting gazelle minded entrepreneurs, this means

  • Providing tailored advice to meet their demanding and specific needs
  • Speaking to them in language they understand, free from jargon and action orientated
  • Fast tracking them to trusted commercial networks, ones that have a direct impact on commercial performance

Getting these conditions right will to allow more entrepreneurs to flourish. More jobs means more high growth businesses. The new Business Coaching for Growth service supported by BIS will play a pivotal role in unearthing and accelerating the performance of ambitious forward thinking companies.

Winning Pitch is delighted to be part of the Consortium leading the support for high growth companies. Along with Grant Thornton, Pera and Oxford Innovation this service we will deliver a step change in business support.


Small business owners ‘ready to give up’ (what?)

24/01/2012

This was the headline finding of a report compiled by Aviva and covered in today’s Daily Mail. It went on to read “a quarter of small business owners say the economic outlook is so bleak they would rather return to being an employee”. Given the job I do I am more than aware of the pressures and challenges entrepreneurs face, but why is the media constantly pushing out such bad news.

Negativity of this nature can condition ambitious people to hang up their boots up, we must balance all of this with celebrating the successes of many entrepreneurs who have decided not to participate in recession.

Headlines like this do nothing for the spirit or culture of enterprise. A brighter way of looking at the future is looking at the great successes of the past:

General Electric – formed by Edison when US economy faced collapse.

IBM – set up in the middle of a US economy slump

General Motors – went buying spree when the Federal Reserve was approaching melt down

Disney – took off smack bang in the middle of the Great Depression

Microsoft – founded in the middle of a phase of stagflation

CNN – started in a “double dip” recession

Apple– thrived just after the dot-com bubble burst!

These are the messages we should be putting out into the market. One of the key ingredients for business success is the mental toughness of the entrepreneurial team – please can we stop with the doom and gloom – we all know things are tough, stop pushing it in our face. To quote Jim Collins (again) great leaders face the brutal facts but they maintain absolute faith and belief in what they set out to achieve.

Well I am sure Aviva did the research with all best intentions, but this is  my advice to those thinking of packing in:

1. Remember the very reason why you set up on your own

2. Get involved with a network/group and speak to other business owners, ask them for their advice

3. Find a mentor – someone to lean on

4. STOP – take a day off and try to rise above your business situation

5. Surround yourself with positive people

6. Stop listening to enterprising assassins

7. Be aware of negative thinking and reframe with positive thoughts

Challenges are all part of the business growth journey, many of us would be lost without the pain. More success and good news stories PLEASE.