Diary of an Entrepreneur #4

Been it, seen it, done it ...

Been it, seen it, done it …

Spring is just around the corner – it must be, since I no longer wake up in the morning feeling that I’ve only had 30 minutes sleep and it’s actually darker than it was when I went to bed.

Everyone seems cheery in the office as well, although perhaps that might be because I’m smiling (and not with my manic middle eastern dictator smile either), it’s a proper, happy smiley face. I even say good morning to the two new factory staff whose name I haven’t quite got round to remembering yet (I personally subscribe to the 3 month rule: never establish an employee’s name unless they’ve worked for 3 months, makes life a lot simpler with fewer names to remember).

All in all, I feel it’s going to be a good day. Right up to the point when I look on my desk and see it. There it is. The one thing I know is destined to potentially decimate every plan I had for the day. It sits evenly, squarely on the desk, all alone, pristine and innocent looking – the white envelope.

Why is it they always leave it at the top? Could they not hide it, so you don’t find it until lunchtime and you’ve then got half a chance of a moderate day? Not only that, it’s a white envelope from our stationary cupboard (I can tell, as we still have stock of those envelopes Tracey bought; the glue must have been specifically designed with non-bonding properties, so much that only the space program would have a use for it). Now, I know I shouldn’t open it, I know I don’t want to open it and I know that whatever happens, I’m unlikely to like the contents. There’s a 99.5% chance that this letter can only be one thing: the resignation letter.

I sit contemplating the envelope, wondering if now is the time to use some of that “power of positive thinking” Jack Black was trying to persuade me was deep in my “inner self” (so deep that Chilean miners couldn’t find it, as it turns out). I sit back and imagine that it’s the resignation letter from the engineer who refuses to go up ladders on the basis that he’s got vertigo (even though his previous job was a scaffolder).

But I know that’s unlikely. If I’m looking at the envelope then that means it’s from a staff member and the crunch question is; is it is someone I want to lose, someone I don’t mind losing, or the absolute disaster case, someone I don’t mind losing – but just not right now when I’m trying to plan a 2 week Easter break in the sun.

As I pick up the envelope and it springs open I notice with surprise that it’s from Tracey, and it’s a request to be considered for promotion. The relief overcomes me and I’m tempted to award her the promotion on the spot. However, common sense reminds me that I have more pressing things to deal with (like that Easter holiday) and I acknowledge her request by email, highlighting that whilst I appreciate her attempt to use up her stocks of the non-bonding envelopes, perhaps an email would have sufficed.

I move onto the day’s next pressing issue: February – affectionately known as the “month from hell” in our offices. Not only is it the month where the sales team can no longer blame festive holidays for the dip in sales, but the accountant is screaming at them to make sure they reach his forecast targets, which curiously seem to have been based on a 5 week sales month. Actually, now I come to think about it, all his monthly sales forecasts seem to be based around a 5 week month, perhaps this is a sign he feels he can trace his lineage to pre-Gregorian time.

Either way, the sales team spend more time in this month trying to find excuses, rather than sales, until somebody points out that some of our larger customers have been placing unexpected orders, with the result that the sales team might, just might hit their targets this financial year. With only two months and 1 week to go, the sales team glance up from their desks with a look last seen by a leopard pacing an antelope on the Serengeti plains as they realise they are within grasp of their bonus.

I make the point to Mary the sales manager that perhaps the telesales team might like to contact the customers, just to make sure they are still alive. If we wanted to really go out on a limb and establish if they had any need for our products in the immediate future, then that could be quite helpful too.

The well-rusted machine that is the sales team then thrust themselves into action with a frenzy. Customers are called and quotes are issued. The sales team is even working late at nights, again, a sure fire sign that spring (sorry, bonus season) is around the corner.

Triumphantly, Mary announces with a glint in her eye (which tells me she’s spending her bonus already) that she’s confident that we’ll make it. The glint in Mary’s eye dims as I smile and point out that’s excellent, we now need to look at what growth we’ll be adding for next year’s budget.

Well, I have to find a way to pay for that Easter break …

Toughing It Out

Cost-cutting, down-sizing, de-risking, in challenging economic times every penny is a prisoner and it’s a constant challenge to entrepreneurs.

Sanjay Majhu knows firsthand the importance of financial mastery. A net loss in his business forced him into action, and in just 12 months his tight rein on costs notched up a solid after-tax profit – a significant improvement on the previous year.

Sanjay, of the Apple Harlequin Group, shared his story with Exchange members at a recent Supper Club and the response was fantastic.

• “The value of this event was the nuggets of information which lead to better decisions in my own business and helping to inspire me to be more ambitious and determined in the business.”

• “’Real stories’ of bravery and how if you just stick at it and never give up you’ll make it.”

• “Key tips for me – Important to stay true to ethics – understand every element of your business – foster relations with professionals.”

Sanjay Majhu

Sanjay Majhu

Emma Little, MD of Execspace, found Sanjay’s story “inspirational”.

“It takes guts, bravery and tenacity to build a business, especially in a recession and during hard times. I have always firmly believed that it’s not about being the most charismatic, the most well connected, the most intelligent that brings you success, it’s about having the ability to get up day in day out (even when it’s really crap) and keep going.

“It’s like an inner strength that keeps driving you. I loved how much crap he’s been through and how by keeping going and leaning on his family for support he’s still here. Real strength of character.”

For Emma, her key takeaways from the event reflect her own philosophy: “Honesty’s the best policy – i.e. just tell people straight. I’d always kind of thought this and have been accused of ‘shooting from the hip’ but it really did reaffirm that this is absolutely best course of action – always.”

She intends to start monitoring each individual’s performance on a day to day basis, not just the team as a whole. And maybe open up a bit more to those close to her when it is tough. “It can be a lonely job,” said Emma.

It was Sanjay’s advice to come into work everyday in your business and drive it forward no matter how you feel that resonated with Tim Cocking, Director at Bright Care.

“I also liked that Sanjay really valued and protected the relationship with his wife throughout his business journey and it is a reminder to make sure I make time for my own family regardless of how busy things get,” said Tim.

“I am more inspired to grow and push my business forward and be prepared to face the challenges of that head on.”

Speaker biog – Sanjay Majhu

Brand Power

What is a brand? It’s a living, breathing entity that succeeds or fails as a direct result of every action undertaken in your business. It’s about so much more than logos and packaging; it must reflect the values at the very heart of your company.

Exchange Director Lucinda Bruce-Gardyne of Genius Foods has spent years nurturing the Genius brand and she shared the wisdom garnered at a recent Exchange Focus Dinner.

Lucinda Bruce-Gardyne

Lucinda Bruce-Gardyne

For the members around the table, the knowledge and experiences shared are already having a direct impact on their businesses.

Keith Wight of SST Sensing believes a brand is much more than a company or product name, it is a combination of a promise to customers of quality and reliability, and something they relate to meeting their needs.

When creating a brand you should start with the needs and expectations of the customer, ensuring the brand resonates with importance to them rather than simply being a quirky name.

Keith, the Emerging Entrepreneur of the Year 2011, added:” I am currently looking for an International Business Development Manager and will put greater emphasis on branding for the position than I would have previously done.”

Highlights for Andrew Robert Gordon were being able to pass on benefits of experiences and ideas for others at the table.

“Don’t be afraid to punch above your weight is a good reminder to those who already do, like myself,” said Andrew, whose business is Andrew Gordon Butchery and Fine Foods.

“The points that resonated with me and my business were that of having your team having the belief and passion for what the business is all about, and for them to fully understand my reasons for high standards, top quality produce and first class customer service.

“I will be introducing new booklets and wall charts within my business detailing our company values and standards as a reminder to all what we stand for.”

Feedback from other attendees:

“The value of this event was hearing anecdotes from the range of experience in the room and not just the speaker.”

“Key tip for me was to focus on what your brand means, and building personality and character in the brand.”

Speaker biog – Lucinda Bruce-Gardyne

Highlights from An Evening with Colin Robertson – part 2

Colin Robertson’s talk was honest, humourous and hard-hitting in parts but the Exchange members lucky enough to attend all found something relevant to their own business they could take away and apply.

Here the members share some of the highlights of the evening, and what they learned from Colin’s story.

John Gardiner of TALENTStream was busy taking notes to take back to action.
“I’m taking away very rich ideas you can apply directly in your business and know they are proven.”

Joanna Dunbar, Stewart First Aid, thought Colin had a brilliant story to tell.
“It’s fabulous to see something started in Scotland and going all over the world.”

Nicola Gillespie Syme, Gillespie Financial, loved the humour Colin used to get his message across.
“Colin’s fundamental belief and passion in everything he does is infectious.”

Robin Wornsop of Rabbie’s Trail Burners appreciated the information about how Colin turned the business around.
“The key things were communication around making sure every one knows where you are going and what your vision is to take the company forward so you get the company behind you – every one actually wants to be in a winning team.”