Growth wish entrepreneurs should train with the best

08/09/2015

If you want to excel in your professional life and get the most out of your business, work with those people who will take you to new limits. Training with these individuals will extend your comfort zone, teach you new skills and more importantly, allow you to gain insight into how they think. Many businesses fail to grow because their founders get stuck in a rut of the same old, day after day. Only when they immerse themselves with a group of high performers do they appreciate what is possible. High performers think in a different way, they have a mind-set that is conducive to grasping opportunities and ruthless execution to make things happen.

Defining who you believe to be the best in your field of work provides a benchmark for raising your own performance. Do away with any feeing of personal pride or sense of undermining your own capability and explore how you can spend time with those you identify as best in class.

High performing organisations consciously create conditions that get the best to push each other to new levels of performance. If you want to achieve greater success then align yourself to those who consistently out perform the rest. Be open in your approach to these people and ask them – Please can you help? Or please can I ask your advice? By asking in this way you are delivering a compliment and acknowledging their expertise and achievement mind-set. More often than not people will help. Your aim should be to:

  • Shadow them on meetings and in their day to day activities
  • Ask for some time to share their thoughts on why they constantly outperform
  • Seek insight on how they think and what drives them
  • Enquire what motivates them and what they read
  • Try to find win-win ways of working
  • Work out how your expertise can be of value to a high performer
  • Seek out strategic partnerships

By training with the best you set intentions and expectations that lift your mind-set to new levels of attainment. Individuals you train with are different to mentors – they are the sparring partners that you work with to develop and grow your skills on a real time basis – they are pivotal to moving your business to a higher level. If the person you want to work with views you as a potential threat, the relationship will not work. Be honourable about your intentions and by no means use it to gain insights that would be of disservice to them – be clear, be up front – if a conflict of interest presents itself then walk away.

John Leach, CEO Winning Pitch

For more leadership and entrepreneurial advice, visit: winning-pitch.co.uk/for-business-leaders/


Business growth needs great leadership

09/04/2015

Growth is what everyone is talking about at the moment. Whether its public sector policy makers or entrepreneurs, we all need growth. Easy to say but do we truly understand the implications of going for for it! Growth requires a vision; a sense of purpose, a plan, resilience, mental toughness, teamwork and a whole lot more. Whether you are trying to grow a business or turn around a failing school someone has to build a picture of what the future success looks like then execute a plan that gets everyone on board for the journey.

My own particular passion is around driving the entrepreneurial growth of UK plc. More specifically, encouraging individuals who have got what it takes to pursue their ambition of being their own boss. This extends to supporting existing entrepreneurs to think bigger and truly maximize the potential of their business. As Adam Smith the Scottish philosopher and economist quoted in his book The Wealth of Nations back in 1776 –

“we are a nation of shop keepers”.

Well not much has changed, the economy relies so heavily on the very small business, it amazes me that well over 90% of companies in the UK employ less than 50 people, very few ever get past employing more than 25 people – so why is this? The reasons are wide ranging but all too often the stresses and strains that come with growth are just one step too far for most people. Taking financial risks and the associated personal, professional and commercial challenges, which the journey inevitably brings, results in the pursuit of a more pedestrian voyage.

There is much debate at the moment about a special group of businesses commonly referred to as gazelles. These are fast moving businesses that exhibit sustained levels of growth over a three-year period – they achieve growth rates above 20% per annum and their contribution to the economy is phenomenal. Independent research conducted by Nesta shows that 6% of ambitious innovative businesses over the coming years will deliver 50% of new jobs. So the answer is, we need more of them. Game changing leadership lies at the heart of driving more gazelles and therefore improved growth, individuals who can create a culture that enthuses and motivates others to perform and deliver.

There are many schools of thought on what great leadership look like, however my own insights, (derived from the great fortune of being immersed in a world of successful entrepreneurs) would lead me to conclude that there are ten essential ingredients, most notably, leaders who drive growth:

  1. Have an ability to embrace and drive change to the benefit of all stakeholders
  2. Personally very driven with aligned personal and professional intentions
  3. Are future focused and have clarity of what needs to be achieved
  4. Operate by the philosophy of success is down to 20% thinking and 80% doing – progression involves iteration and this builds momentum
  5. Communicate their purpose and values with passion both internally and externally
  6. Build a team ethos with roles and responsibilities of all clearly mapped out and monitored
  7. Ruthlessly guard their reputation and have a moral compass which ensures all decisions are made with best intentions
  8. Performance management and key performance indicators (KPI’s) are embedded throughout their organisation – they know if they are on track
  9. Have a mindset aligned to success, this is supported by an innovative positive mental attitude that delivers the edge
  10. Leaders are readers, they commit to personal development and usually have a mentor who helps locate personal blind spots…very self aware, knowing very clearly their strengths and weaknesses!

Leadership and growth are inextricably linked; lets hope the business stars of tomorrow will emerge over the coming months. A new generation of go getting individuals who will drive innovation, wealth creation, exports and jobs. They are the hero’s of the economy.


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!


The high growth entrepreneurial mindset

05/03/2015

I am a great believer that successful high growth entrepreneurs embrace the right mindset for success. My second book Success Factor – Master the Secret of a Winning Mindset outlines my thoughts on the secret sauce of the way they think – here they are:

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.

 


10 Ways to prepare your mind for high performance

18/12/2014

“So how do leaders shift from lower states of mind to higher states of mind and improve their effectiveness and performance?” This was a question posed on Harvard Business Review forum I contribute to; here were my thoughts and contributions to the debate

Its simple. It all starts with what you think about. We must listen very carefully to the internal conversations we have with ourselves. The key to moving from ‘downbeat’ to ‘upbeat’ is:

1. Be aware of the internal negative conversation – address it

2. Create space to think ‘fresh positive thoughts’

3. Speak to positive people who lift your spirits

4. Tune in to the things that lift your soul – sport, music, hobbies, personal passions

5. Write down your thoughts and combat negativity with a ‘+ve to do list’

6. Keep away from negative people at all costs

7. Connect with nature – walk the dog, go for a run

8. Remember most of the things we worry about don’t actually happen

9. Think in the present and get on with it, keep experimenting!

10. Die a happy death. Morbid thought, but a powerful motivator to take action now!

The way you think governs the way you behave and act. Beware of what you are thinking about.

The ability to master the mind is what differentiates ‘winners’ from ‘runners up’. The real entrepreneurial stars are the ones who manage to consistently switch into their higher state when needed – I would describe this state as being one were individuals view both opportunity and challenge within a positive and courageous mental framework.


8 Essential ingredients of a high growth mindset

23/10/2014

The issue of what constitutes a high growth entrepreneurial mindset is one that has fascinated me for years. We saw in yesterday’s press that 50% of new start ups fail within five years, a recent report from leading accountants MazarsHow to be a stand out SME – showed that very few SMEs grow beyond the micro stage (10 staff). Across Europe, 92% of companies have fewer than 10 employees. Surely not all of these entrepreneurs fail to have a business model that lacks the potential to scale – there must be other issues that lead to what is almost a shopkeeper mentality. My frustration is that I see day in day out companies with massive potential, however the founders often fail to recognise that, with more motivation, much greater value could be created for themselves stakeholders and their family’s. So what holds them back? It’s their pedestrian mindset – If they only had more fire in their belly!

Whilst I would never encourage a business owner to go for growth, if they genuinely did not want it, my experience is that many do want to achieve more – I would say its more than 70% do. My conclusion is the wrong state of mind holds too many entrepreneurs back from greater thingstheir mindset is not tuned into the reality of what it takes to grow. Having a great business idea and tight control over key functions and processes is only part of the success equation. It’s also about having a high performing mental attitude. Mindset is a hugely complex area with many constituent parts. Here is my simple view on the top 8 ingredients that deliver a high growth, high performance mindset:

Desire and intention – every action flows from genuine desire and personal intention. I want to grow my business is easy to say but hard to do. Desire is observed when entrepreneurs practice the 20% thinking and 80% doing rule. Growth entrepreneurs talk about what they have done not what they are going to do. Strong personal intentions create a performance culture mindset and go the extra mile mentality.

Sell, Sell, Sell – every successful entrepreneur knows that without a sale, there is no business, period. Thomas Edison, said I don’t invent anything I can’t sell, how true. I am constantly amazed at how many businesses are started on the basis of an idea with no attention paid to customers or does anyone want to buy this? Selling is not a dirty word; great entrepreneurs are great sales people – get comfortable with it!

Mental resilience – an ability to cope with the random nature of business supported by an ability to get back up when the chips are down is one of the most defining traits of a winner’s mindset.

Self-awareness –there is no way one person can do it all, winners create an effective team and call on the support of others. The inability of a founder/entrepreneur to recognise their own failings will inevitably lead to slow growth. Better decisions are made when entrepreneurs actively encourage trusted team members to contribute and to input to debate. Accelerated growth only happens when the founder starts to let go of parts of the business.

Creativity – the invisible force that drives innovation and ultimately creates a fantastic culture – it also underpins a positive memorable customer experience. Great entrepreneurs have an ability to embrace ambiguity, they are curious, they experiment with new ideas, and they take action. New sales ultimately result.

Self- belief – If you believe you can, you can, if you believe you cant then you’re correct. A belief in ones ability is a good starting point for any growth entrepreneur. Growing a business can be very tough, along the ways critics emerge who drain enthusiasm and energy. Successful entrepreneurs have an ability to close off to negative energy. Very often in a growth business such negativity emerges from the market place and scarily from staff. BYC – Believe You Can.

Clarity – don’t be surprised if you don’t end up at your destination if you don’t know where you are going. Successful entrepreneurs have a vision of what they want to achieve in the marketplace – revenue, profit, market and customers and business model.

Higher purpose – a desire to change a market place, solve a burning issue or address an unfulfilled need is a massive motivator for many entrepreneurs. Higher purpose provides a reason for getting out of bed in the morning. Without a reason, business becomes mundane, passion disappears and people disengage. Personal and business performance suffers. A clearly defined higher purpose and reason instills a desire to serve.

There are many other components but being aware of the above is a great starting point. Create foundations for growth by getting your head.


Creating space

16/09/2014

Not being able to see the wood for the trees is a common feature of life. People regularly talk about being busy and overworked – but just how much of this is self inflicted. All too often we engage in activity that brings no value to achieving our highest goals and ambitions. Without reflective time, our decision making becomes blurred and it is common to lose sight of what we want. The result is stale thought with patterns of behaviour that fail to deliver our deepest desires. Successful people have the fortunate ability to think clearly, this is helped by finding the time to take well earned breaks from being “busy”. This cleansing process provides the opportunity to de clutter the mind.

The practice of finding sanctuary helps to remove mental blockages and fosters a sense of balance between work and play. Without regular periods of reflection you will find yourself eventually in a rut – the place you don’t want to be!

You must think of Sanctuary on three levels of “time out”:

  1. Daily sanctuary to help us to prepare for the day ahead – time with family, exercise, meditation, prayer, reading. Starting each day with 10 minutes of deep reflection, provides a kick start to focused activity and just being aware
  2. Weekly sanctuary that helps divert our energies into non related activities like pursuing a hobby, sport or spending more time with family and relationships. These activities release you from the week that was – puts you in a good frame for the week ahead
  3. Sanctuary includes those activities that most people can only fit in two or three times a year. They would typically involve family holiday’s, short breaks or some form or retreat. This level gives you the opportunity to ask the big questions – what is my life all about? What needs to change? Should I go and do something else?

Dedication to the 3 Levels will open your mind to new possibilities and opportunities. Chasing success can be as destructive as it is constructive – practicing the art of Finding Sanctuary will build perspective into your life and help to differentiate between what is and what is not important, what brings fulfilment and what does not – embed these disciplines into your routine and you will experience a profound improvement in clarity of thought – you will see things more clearly, you will make better decisions and life will feel less hectic.