Category Archives: ambition

Speaker Video Highlights – Annual Conference 2013

Posted on by
Reply

From chairman Chris van der Kuyl’s welcome speech to Kevin Dorran, Tom Cross, Hermann Twickler, Mike Clare and Martin Gilbert, these short videos not only summarise the key messages they wanted to share, but also some valuable advice and a lot of humour.

First up, Chris van Der Kuyl goes from jokes about height – or lack of it – to talking about inspiration and what makes a successful entrepreneur. “Inspiration is the single word I wanted people to take away from today, both being inspired and giving inspiration to others.”

Kevin Dorran of Diet Chef talk about the importance of having a strong, reliable and experienced support network, no matter where you are on your entrepreneurial journey. A support network, says Kevin, is like a security blanket; you can always get advice and help no matter what’s happening around you. The economy might be tough but you still have to run a business, and a support network will help you do that. Listen in right to the end for Kevin’s Girls Aloud confession …

Tom Cross of Parkmead Group shared a message of investing in youth and planning for the next 10-15 years while confessing work is play for an entrepreneur like him.

Hermann Twickler of Pressurefab Group believes entrepreneurs need to be more pragmatic. “You need to think about what you have got and what is possible to make something with it. If you only think about what you don’t have, you will never achieve anything.”

Mike Clare, formerly of Dreams and now of Clarenco, revealed he spent his lunchtime taking advice from a fellow entrepreneur. “I need to listen to my staff,” he says, “And I’m not very good at that.”

Martin Gilbert of Aberdeen Asset Management said simply:”It’s how you cope with the difficult times rather than the good times that’s important. Good times are easy. Dealing with adversity and difficulty has been the story of Aberdeen.”

Video highlights – Conference 2013

Posted on by
Reply

It’s the video you’ve all been waiting for – highlights from this year’s Annual Conference at Gleneagles. Whether you were there and need another shot of inspiration, or whether you simply want to see some great entrepreneurs in action, this is definitely worth a watch.

Parkmead’s Tom Cross at the Annual Conference – Highlights

Posted on by
1
Tom Cross, Annual Conference 2013

Tom Cross, Annual Conference 2013

Tom spoke passionately and honestly about growing a business in Scotland with an international perspective. He shared lessons learned the hard way from Dana Petroleum and before. Tom believes absolutely that businesses of all sizes experience the same challenges, and offered advice from his own experiences.

For example, Tom still believes he listed Dana too early, a mistake he learned from quickly.

“There’s a great mix of people in this room, some small businesses, some startups, just like mine – I’m involved in startup businesses right now,” said Tom. “I would advise you to think very carefully about going public. Advisors often push you in that direction but it’s not a panacea. I still regard going public so early with Dana as a mistake, I should have worked harder to find alternative funding.”

Dana was listed in 1996 because the banks, said Tom, were a “non-starter”. He grew the business over 14 years from just £200k seed capital. By the end of 2010 the company was worth $3.1bn, it sat just outside of the FTSE100 with $600m t/o.

An incredible performance, especially considering the very small team, which was making $5m profit per employee.

Tom’s access to boards of directors and government officials across the world enabled him to see a bigger picture, he says it helped crystallise his determination to form a new type of oil company, one that was free from nonsense, one where he could just get on with it, simply find a lot of energy and supply it to people who need it.

The philosophy worked. Within 12 months of starting up Parkmead, they had their first production. It’s the thing he is most proud of with Parkmead and not surprisingly, when you consider the average in the industry is probably 5,6,7,8 even 9 years.

“All this makes the difference, you get cash coming in and you have choices,” explained Tom.

“We all share the same challenges, looking after customers and partners,” said Tom. “Another thing I have learned the hard way is to temper your enthusiasm. All of us are completely enthusiastic, we see an opportunity and want to push, push, push, grow, grow, grow and sometimes you have to reign back a bit.

“For every 20 opportunities we explore, we probably do one, it’s a very high filter rate. We are ruthless in terms of taking opportunities forward. But when we take on that one, we are ruthless again.

“You are never going to get everything right. If we get 7/10 or even 8/10 we will do well.

“I have an open door policy and have stuck by it in the 20 years I’ve been in business. I encourage people to come to me with their ideas, it doesn’t matter if it sounds crazy, drop me an email, tell me you’ve got an idea, I’ll always look at it and if I can’t do it, I’ll point you in the direction of someone who can help.”

“Entrepreneurs do this naturally guys. We’ve been building Parkmead over the last 18 months and it already has a value of £200m, but what has made that possible is all the goodwill coming back. Our very first deal was with Exxon Mobil, the biggest company in the world – not the biggest oil company – the biggest company.

“If you can do well with Exxon Mobil, as a tiddly little company in a 2up 2down in Aberdeen, that’s serious credentials. So try to make sure you help others.”

Tom is passionate about the future of Scotland. He speaks regularly to groups of young people and encourages them to think big, and give entrepreneurship a try.

“I absolutely believe Scotland has a unique formula, an ability for growing businesses. We are surrounded by excellence, we have great schools and universities, targeted at business. We have a very intelligent, experienced workforce, it’s not huge but quality makes up for quantity. People deal with people who are trustworthy.

“We have shown the way with fantastic world beating public companies, large and respected private companies, and great smaller companies working to become world leaders in their area in Scotland.

“I see Scottish companies operating all over the place, it fills me with pride and makes you want to do more.

“There is no doubt in my mind, and I say this to many young people, we have the potential and framework and mind set to build many more world class companies right here.”

Highlights from An Evening with Colin Robertson – part 2

Posted on by
Reply

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.”

Highlights from An Evening with Colin Robertson – part 1

Posted on by
Reply

If you weren’t at An Evening with Colin Robertson, then you missed out on a quality event.

2012′s Entrepreneur of the Year Colin Robertson was on top form, his talk both entertaining and educational.

In part 2 of this blog we’ll share highlights from the evening through the eyes of some of the members who attended, but for now you can listen to Colin talk about de-risking Alexander Dennis Ltd, growth in products, sales and profits, customer retention, moving out of comfort zones, and hitting £1bn t/o in the not too distant future.

Trust us, this is one video you really want to watch.

Acquisition Secrets Revealed – Jim McColl

Posted on by
Reply

Growth by acquisition can be exponential, exciting and financially rewarding. If you get it right. But in many cases the acquisition doesn’t work out, the acquiring company struggles to integrate the new company, and the new company fails to fit in.

Jim McColl

Jim McColl


So how do you make successful acquisitions? Who better to ask than Jim McColl of Clyde Blowers whose successful acquisition strategy over the past 10 years has seen the business develop into a truly global portfolio of 90 companies in 30 different countries, employing 6,000 people, with an annual turnover in excess of £1.35bn.

Murray Strachan chaired the evening. He summed up Jim’s key advice quite simply:
• Focus on what you’re good at, what you can add value to and/or leverage.
• Remember the best business to be in is the one you’re already in.
• Research competition, market/industry sectors and look for gaps, potential and to identify targets.
• Development and implementation of a 100-day plan is the key to integration and success.
• Motivate the management team, help them understand the vision and let them help in developing the storyboard.
• Be careful with the brand of the target, and/or eroding its inherent value.
• Always present an acquisition as a merger.

“Jim’s key approach came down to four factors, said Murray. “Big ambition, a “can do” attitude, understanding your markets and thinking globally.

“There were so many lessons and golden nuggets from Jim my arm hurt writing them all down. What a guy!”

For Amanda Boyle of Bloom VC the key lesson was that successful acquisitions focus on the return not the cost and the most valuable due diligence is carried out on operational issues by an internal team before professional services are engaged.

“Planning and ambition are important at every stage of building your business,” said Amanda. “It’s important to map and articulate these then share with everyone, every day… so that’s what I aim to do!”

She added: “Doing the right thing can be compatible with big ambition. A strong sense of personal values shines through Jim’s approach to negotiation.

The most memorable piece of advice that Tony Banks took away from the evening was that Scotland would flourish as an independent nation.

Tony, of Balhousie Care Group, added:” The highlights for me were tips to get your own team to do most of the operational diligence during an acquisition and then get the ‘expensive’ professionals to only provide confirmatory diligence.

“There will be no major changes in my business but I need to talk to Jim about raising funds and becoming a debt financier,” smiled Tony.

Attendee Thoughts and Key Tips
“Lots of practical advice and guidance, underpinned by focus, patience and sharp vision. What shone through were Jim’s priorities and values, and a very clear sense of self.”
“Target peoples dreams not just how much they want to be paid. Make that dream a reality!”
“Key tip for me – operational diligence before you bring in the expensive professionals to carry out the confirmatory diligence.”
“1. Get to know the firms first, just ‘drop in’ for a coffee whilst you’re in the area – so really get to understand the business from afar 2. Let them think you’re merging 3. Keep staff informed & updated with your goals 4. Do diligence internally where possible.”
“My tips from the evening – Market analysis – get to really know your market and competitors – Key staff – play to their dreams when looking to incentivise – Story board – set out clearly the vision for all to see and buy into – Can do attitude is essential – Look at what you are good at – best business to be in is the one you’re in!”

Jim also recommended a number of his favourite books, his personal top ten list is here. Better get them on your Santa list!

1. Think and Grow Rich – by Napoleon Hill
2. Success Through A Positive Mental Attitude – by W. Clement Stone
3. You’ll See It When You Believe It – by Wayne W. Dyer
4. You Can If You Think You Can – by Norman Vincent Peale
5. Born to Success – by Colin Turner
6. Are You Positive? – by Richard Gaylord Briley
7. The Secret – by Rhonda Byrne
8. A Passion for Success – by Kazuo Inamori
9. Ask And It Is Given – by Esther and Jerry Hicks
10. Abundance – The Future Is Better Than You Think – by Peter H. Diamandis

Biographies “here”

Nominees for Emerging Entrepreneur of the Year 2012

Posted on by
Reply

Tonight we’ll reveal the winner of the Emerging Entrepreneur of the Year 2012 – here are our outstanding finalists:

Alan Bonner – Pinnacle Technology Group plc, Gilad Tiefenbrun – Linn Products, Peter Bruce – Entier Ltd, Michael O’Hare – thebookingroom and Hermann Twickler – PressureFab Group.

Alan Bonner
Pinnacle Technology
Based: Stirlingshire
Started: 2002
Employees: 60+
Turnover: £6.3m

Alan Bonner displayed entrepreneurial instincts as a 17-year-old school leaver when he started a video library that soon became profitable.He moved into the telecommunications industry in 1996 following stints in insurance brokerage and in sales at the BUPA private healthcare operation.

Quick to recognise the opportunities created by deregulation, Mr Bonner developed a firm that sold telecommunications products on behalf of suppliers, which was bought by a rival based in Kent. Since acquiring the then loss-making Glen Group (now renamed Pinnacle Technology) in 2007, Mr Bonner has developed an entirely new service offering. The firm has won a range of big contracts covering events like the London 2012 Olympic Games and used acquisitions to increase its customer base.

The company has reported profits and aims to expand overseas.

Deloitte verdict: “Turning around the failing Glen Group and creating a platform for sustained growth is a major accomplishment, particularly when achieved with no external debt.

“While building his resource steadily, Alan is attuned to the growth potential of his business and has the proven tenacity to overcome challenges when they arise.”

Peter Bruce
Entier Services
Based: Aberdeen
Started: 2008
Employees: 473
Turnover: £25.5m

A trained chef, Peter Bruce spent 11 successful years at Compass Group before spotting an opportunity to start a new business specialising in catering for staff on offshore oil and gas rigs as well as onshore venues.

After quickly building a customer base that includes big North Sea operators such as Apache, Entier has almost tripled turnover since 2008. The company is on course to make its first profit in 2012 with further growth forecast in 2013.

Entier has invested heavily in research and development, developing packaging to ensure produce is as fresh as possible when it reaches offshore sites. The company has won business in overseas markets like Canada, Egypt and the Gulf of Mexico and started working with clients in other industries.

Deloitte verdict: “Despite Entier Services still being in its infancy its rapid growth over the past four years is nothing short of impressive and, with almost 500 employees, it can hardly be viewed as small.

“Peter’s commitment to a quality product and service, combined with a loyal team, makes Entier very well positioned for continued success and the possibility of becoming a real powerhouse in the offshore catering sector.”

Michael O’Hare
thebookingroom
Based: HQ in Glasgow with offices in Edinburgh, London, Paris, Hong Kong and New York
Started: 1999
Employees: 133 (excluding drivers sub-contracted for additional international work)
Turnover: £12.8m

A former golf professional at Glasgow’s Sherbrook Castle, Michael O’Hare moved into the transport business by providing cars for weddings at the venue. After buying a limousine, he expanded into offering transport services for corporate events and financial road shows through his Charlton Chauffeur Drive operation.

Mr O’Hare went on to develop thebookingroom as a business which harnesses the internet to offer a chauffeur-driven service specialising in niche markets like events and private aviation.

Based in Scotland, thebook-ingroom now has offices in London, Hong Kong, Paris and New York. Clients include giants like JPMorgan Chase, MTV and Deutsche Bank. The company has maintained a growth rate of around 20% and is now planning further expansion into new markets such as Brazil.

Deloitte verdict: “Michael clearly has a strong understanding of the practical steps required to develop his raw ideas for expansion into tangible business success.

“The continued development and refinement of thebookingroom’s bespoke logistics and customer management software indicate Michael’s awareness of the importance of innovation in staying ahead in the market and gaining a competitive edge.

“To have developed into a business with international scope is testament to Michael’s entrepreneurship and determination.”

Gilad Tiefenbrun
Linn Products
Based: Eaglesham, near Glasgow
Started: 1973
Employees: 174
Turnover: £17.257m

With a background that includes a degree in electrical engineering and five years working in areas like mobile phone operating systems at Symbian, Gilad Tiefenbrun joined his father’s business, Linn Products, with a highly sophisticated understanding of technology

He proceeded to lead a turnaround of Linn with an emphasis on research and development. This resulted in the company ceasing manufacturing CD players in 2009 and focusing on technology designed to capitalise on the rise of digital streaming of music. Appointed managing director in the same year, Mr Tiefenbrun increased the company’s focus on innovation with the creation of a 50-strong product development team.

The company recorded a 21% increase in net profit in 2012 and eliminated its outstanding debt.

Deloitte verdict: “Gilad is an impressive entrepreneur with a very inclusive leadership style. He has successfully steered Linn through a challenging time and has completely reinvigorated the business by adhering to his clear strategy.

“At the heart of this is a commitment to quality and investing in the future of the business, both in product development and the team of people he has working alongside him.

“Under Gilad’s leadership Linn has the potential to do something very exciting in the marketplace.”

Hermann Twickler
PressureFab Group
Based: Dundee
Started: 2009
Employees: 85
Turnover: £6m

A master engineer and shipbuilder by trade, Hermann Twickler honed his skills in the shipyards of Northern Germany and North America before becoming operations director of VT Group in Portsmouth.

After spurning offers of other big jobs, Mr Twickler decided to start his own offshore equipment manufacturing business. He invested his life savings, including the sale of his house and car, into creating PressureFab Group.

Started just three years ago, the group now counts some of the largest operators in the oil and gas sector among its customers and employs 85 staff. It has been profitable since inception.

Mr Twickler says he has no desire to grow the company for exit, but instead has set his sights on wealth creation and achieving long-term growth. The company has plans to expand into new facilities, scheduled to complete in 2013.

Deloitte verdict: “Hermann has built an excellent company serving some of the largest companies in the world and has successfully bucked the trend by exporting Scottish engineering and manufacturing to the Far East and the US.

“Hermann has created almost 90 new jobs in three years, doubled revenue each year and always made profit, and he’s achieved all this during the biggest recession since the 1930s.”

The Challenges of a Multi-Site Business

Posted on by
Reply

When you have staff spread over a multi-site business, you have to ensure a consistent company culture is implemented across the board, with systems and processes in place to allow you to monitor and progress that culture. But it’s not as easy as it sounds.

Elaine Halley of Cherrybank Dental Spa has grown her business across two sites, and is experiencing a few teething problems. She attended the Managing a Multi Site Business Focus Dinner with a view to learning from seasoned entrepreneurs who have managed it successfully.

She thought Tony Banks (of Balhousie Holdings) gave a really honest and down to earth account of the challenges of growing by acquisition – and his insight that generally the management team of the acquired sites needs to be altered was a point that made sense.

He shared his tips for communicating across a ‘group’ and steps taken to ensure that company culture is reflected across multiple sites. Inspect don’t expect was the lesson for all managers when sent out to see how the actual teams are managing in the real world, not just information being shared. “Go in through the back door”. Tony also said awards were inspirational for the team members once your company is big enough to justify this.

Elaine said Bill Power (William Tracey Group) gave brilliant analogies to the Catholic church and the Foreign Legion. Bringing people together and giving them a common bond – especially if that gives a feeling of being part of something that is bigger than yourself.

“Respect for authority, team and the systems above any individual was the message. His description of the Kerry Group managing sites across different countries was inspiring,” said Elaine.

For Les Meikle, of Wise Property Care, the quote “None of us is as good as all of us” struck a chord.

“It reinforces the team aspect of the business and should help more distant members of the team feel included,” he said.

Exchange board director Les said he particularly liked Tony’s “Voice” meetings where he gives a selection of employees an opportunity twice a year to meet with him and give him their views on how improvements could be achieved. As a result, Les will be returning his focus on his own team.

“I think I will get round the branches a bit more than I have and do a lot more visiting the sharp end so to speak, making myself available to the employees,” he said. “It’s very easy in a recession to focus on the results and perhaps not so much on the people who have to achieve them.”

You can read Tony and Bill’s biographies here

Going the Extra Mile – Customer Experiences

Posted on by
Reply

Eric Flannigan has been creating innovative and effective customer service initiatives for years; working with major corporates, SMEs and fledgling entrepreneurs to deliver the ultimate in customer experiences there’s little he doesn’t know about the holy grail of excellence in service.

Speaking at a recent Evening Exchange on “Going the Extra Mile” Eric, of Flannigan Consulting, shared some of his experience. He believes a business is only as good as the weakest link, so it’s important to discover what that is, fix it and then manage service as tightly as production or operations.

He summed his thoughts into “In a Nutshell” actions for improving your customer experience. Number one is to have a single compelling purpose for your business existence ie to be renowned for outstanding service. But to deliver that you need leadership skills to win the hearts and minds of the people who work for you.

Giving praise and recognition for good services to customers is key, and make sure you value those who deliver very well for your customers.

It’s also important to define what your outstanding service actually looks like, and how each of your customers will experience that.
Eric says: “Make sure that key people walk the talk on service, measure the delivery – and manage it fiercely.

“Focus on increasing customer opinion by a factor of between 3 and 5.”

He also suggested simple tips to remind customers of all the “over and above” things you do for them. “Send them an invoice recording ‘no charge’ when you have done something significant for customer and you wish to underline that you went the extra mile.”

Key takeaways from the event:
Remember the value of face to face
Simplicity and visible, engaged leadership turns your values into your assets
Get new employees to physically sign up to Values and Service Behaviours

Exchange of Views Needs Role Models – John Anderson in The Herald Business

Posted on by
Reply

As the 2012 Global Entrepreneurship Monitor for Scotland reports an increase in plans for new start businesses, Exchange CEO John Anderson was interviewed by Colin Cardwell for The Herald Business magazine.

John Anderson says it’s not starting a business that’s the challenge, but growing it. In the interview – a comprehensive double page spread also featuring Tom Hunter – John talks about family businesses being one of the most dynamic areas in terms of growth potential, suggests academics spinning businesses out of universities need more of a customer focus, and highlights the need for role models in all areas, especially young people, women, and those from differing ethnic and geographic backgrounds.

You can read the full article here : http://theherald.newspaperdirect.com/epaper/viewer.aspx

(Please note, you need a subscription to access this magazine, but there is a 7 day free trial option so you don’t have to pay to read it).