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.


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 >>>


Scary Strategies

02/10/2011

Bravery and courage are important traits of successful entrepreneurs. All too often there is a very fine dividing line between success and failure, the implications on either outcome can equally profound. Rene Carayol, a leading management thinker and person I truly admire talks about the need to sometimes practice “scary strategies”. These are methodologies that need to be employed in order to achieve a breakthrough or pursue big personal/business intention. They often involve raising the bar and extension of our natural comfort zones. Scary strategies are particularly appropriate in difficult selling situations where there is a real need to demonstrate competitive advantage e.g. dislodging an incumbent supplier from a long-standing relationship or as a small business pitching against a global brand.

In considering the deployment of a scary strategy we must pay due recognition to:

– Challenging the status quo and encouraging the customer to change their outlook, in other words try to change their mindset

– Bringing a different approach or one that is unconventional but truly brings benefit (however, there is a fine dividing line between genius and madness)

-Challenge existing practices that are old-fashioned and out of date

Scary strategies should be considered when all traditional methods of winning business have failed. Doing something memorable that is innovative, inspiring and displays a real sense imagination can sometimes win the day.

An approach taken by major London ad agency in the 90’s is one of the best examples I have come across.  In the days of British Rail, the top management turned up at the agency ready to be pitched to. An uninterested receptionist, filing her nails, made them wait in the foyer, which was decorated with coffee-stained tables and overflowing ashtrays. The minutes ticked by and nobody came to meet them. Furious at their treatment, the BR managers were about to storm out when an agency Director and his team appeared. “That’s how the public sees BR,” the Director told them. “Now let’s see what we can do to put it right.”


Smart Operator – High Growth Individuals

19/07/2011

Recent economic challenges have placed serious pressure on people to think very differently. Business as usual is not an option, its time for something completely different. Cuts in public and private sector budgets have taken their toll – redundancies, lost revenue, projects going on hold…the story goes on. So what’s the answer? Manage decline and depression or look for the opportunities. As one delegate at an event I spoke at the other week put it….”recession, I have decided not to participate”. A very refreshing approach and outlook, the very opposite to the doom and gloom the media encourages us to embrace.

The answer is to practice and develop the Smart Operator Mindset – this ultimately leads to the creation of the high growth individual. We should draw parallels from the world of enterprise and create our own personal business plan, one that maps out a destination with the prioritized tasks to get us there. Here are some pointers for the Smart Operator Mindset:

1. Smart Proposition – define your unique talents, what you love doing, what you want, what gets out of bed. Aligning a future to a basic purpose really does help to accelerate the way forward.

2. Smart Vision – write down your personal intentions for 6 months, 1 year, and 2-years. Base this on your Smart Proposition. Include earnings and other components that make up the life you want

3. Smart Plan – remember a vision without tactics is hallucination. List the things you need to do and get on with it. The right path will emerge when activity is initiated.  Avoid procrastination. Set yourself KPI’s to check whether you are on track.

4. Smart Brand – you are selling yourself, so work out what mental imprints you want to leave on those you meet. Be memorable, deliver on your promises and become the master of your trade. This is what you will become known for.

5. Smart Collaborator – work out who you need to engage and team up with. Alliances and partnerships are a critical part of the Smart Operators DNA.

6. Smart Communicator – master the art of getting messages across, think win-win and live in the world of your audience. Clarity and concise messages that considers both your needs and those of others lead to positive relationships that go somewhere.

7. Smart Connector – work out a plan for finding, reaching and locking into to those individuals and organisations that are important to your personal progression. The connectors and influencers could include suppliers, banks, associates, partners, customers, other departments.

Practice makes perfect, another cliché that I hate, but its true. As Malcolm Gladwell said it takes 10,000 hours to become successful, so that means blood, sweat and tears, I still don’t think there are any short cuts to getting want you want. A combination of being really good at what you love doing, combined with taking ownership of your life fused with determination and persistence help pave the way forward. The Smart Operator Mindset is a framework for you to hang your thinking on.

 


High Growth Companies – “Sell the Love”

15/07/2011

Yesterday morning I spoke to a fantastic group of ambitious high growth SMEs. The theme was how do growth businesses embrace a winning approach to selling. My aim was to dispel some of the myths that go with this notoriously challenging dimension of business growth. Other key messages included, superior and sustained sales growth is achieved when there is clarity in the business model, strong team ethos, robust processes and systems linked to clearly differentiated propositions.

We also discussed what makes great selling at the coal face. When you love, believe in and are passionate about what you are offering it creates an energy and customers will very often tune into messages at an emotional level. If you don’t love what you are offering don’t expect the customer to.  Only last week my philosophy of selling from within was summed up wonderfully by a delegate at another event, she said “my best sales performances are when I get the opportunity to just talk about what we do and how we add value”. The era of the hard sell is over, the order of the day is building customer relationships through partnerships and collaboration. It is vital to embrace this mindset when you turn up to your customers. Dont let them think you are only there to flog them something.


Conversations are vital….

05/12/2010

It is vital that we dont lose sight of the art of having conversations with customers, influencers and connectors. It is easy to hide behind tweets, blogs, emails and Facebook – these are wonderful tools to accelerate who we connect with and they do indeed provide the platform to position ourselves as thought leaders.

Having said all this, the art of social mastery and the ability to hold face to face discussions and get our messages across with passion and belief are critical in business development. Experts say that 70% of a customers decision to buy is based on personal chemistry – but why are so many entrepreneurs fearful of picking up the phone and having a discussion with a potential buyer? Its so much easier to write an email or do some stuff on Linkedin and avoid the phone call. Remember activity delivers results use the digital channels but dont forget to pick up the phone. No one will beat a path to your door unless you are very, very lucky – its about putting yourself about and having loads of conversations with those that may have an influence on issuing a purchase order! Dont hide behind your lap top screen!



Single sentence propositions

02/12/2010

We have all been in sales situations where someone asks, so “what do you do?” Does your response resonate and is it expressed with total clarity. All too often people ramble on about what they do and the recipient just does not get it at all! As I have written in other blogs we are in an era where features and benefits selling is just not enough – it’s about getting across the impact of your proposition and being able to evidence the results your products or services have achieved. Todays environment of information overload demands that we get our message and point’s over very sharply and concisely such that we get the attention needed to progress  customer interaction. With that in mind we should all be thinking about “one sentence propositions”. In other words putting a wrapper around our offerings that communicates just exactly what’s in the tin and the difference it can make….as well as giving evidence i.e who else says its great other than yourself. One sentence propositions (of which you may have many) needs to be embedded within all your customer touch points – it also presents a great way of getting uniformity across a company the value proposition – what to say and how to say it. Here are some examples:

We design and deliver web sites and integrated social media platforms that provide a 50% increase in website traffic, it’s now being used by 25% of FTSE 100 companies

We provide process control devices that deliver a 50% of fuel savings, it has been approved by 5 of the largest utility companies including…..

Whiskas, eight out of ten owners say that their cat prefers it (remember this TV ad)

The key is always to demonstrate impact (return on investment or interesting statistic) and evidence by pointing to others who can endorse what you are stating – keep on doing this and observe the impact it has on customer connectivity!

It takes time and effort but is well worth the effort. Write it down until you are happy with the sentence – in many instances you will have many offerings each of which need this treatment.