An Evening with … Iain MacRitchie

Posted on May 16, 2012 by entrepreneurialexchange

“To be successful on a serial basis it takes motivation and commitment.”

Award-winning serial entrepreneur Iain MacRitchie spent an “Evening With” Exchange members talking about what it takes to be successful.In this short video blog he summarises the highlights of his presentation.

For those attending the event, Iain’s presentation was both inspirational and motivational. Afterwards, we spoke to Simon Burges, David Frame, Hamish Robertson, Nick Cohen, Liz Hoskin and Billy Lyle and asked them what they learned from Iain.

Iain MacRitchie Biog

Conference Highlights – Video

Posted on May 4, 2012 by entrepreneurialexchange

The Annual Conference 2012

It was an amazing day, with some incredible speakers sharing valuable advice, great networking and lots of fun. This short video shares some of the highlights of the day, although nothing compares to being part of such an event.

Take a moment to watch it whether you were there or not – we’re sure you’ll want to be there next year.

DFS Founder Lord Kirkham – video

Posted on May 3, 2012 by entrepreneurialexchange

In this short video blog Lord Kirkham shares his advice for young entrepreneurs with big plans:

“Caution and patience”

He admits it doesn’t sound terribly entrepreneurial, but it’s what ensured his successful ventures.

Learnings from the Annual Conference – Russell Wardrop

Posted on May 2, 2012 by entrepreneurialexchange

Russell Wardrop compered the conference but still found time to listen and learn from the speakers he introduced. In this short video blog, Russell shares what he learned from each of the speakers, and what he plans to change in his business as a result.

Winning Growth Strategies – Vera Weisfeld, OBE

Posted on April 17, 2012 by entrepreneurialexchange

From humble beginnings in the early 1970s Gerald and Vera Weisfeld grew their retail empire across the UK before selling in 1990 for £50 million.

The power couple created What Everyone Wants, with 40 stores, more than 2000 staff and annual revenues of more than £100 million.

Gerald Weisfeld is one of Britain’s outstanding entrepreneurs and was a Founder member of the Entrepreneurial Exchange. Working alongside him was his wife Vera, who had started her retail career at just 15. They worked as a team with Gerald’s buying skills a thing of legend, whilst Vera was very much the face of the company – leading with passion and flair.

Following the sale of What Everyone Wants Vera and Gerald created the Weisfeld Foundation, believing that with great wealth came the responsibility to give something back – especially to the communities that supported the business.

Their Foundation now co-ordinates work in Africa, Europe, America and throughout the UK and operates with a focus on helping people to gain and maintain greater control of their own lives; achieving a sense of self worth and fulfillment of personal potential.

Growing a business of such scale requires dedication and ambition – the original Queen of Retail, Vera will tell her story of the 20-year entrepreneurial journey she took with her husband.

Winning Growth Strategies – Annual Conference 2012

Posted on April 16, 2012 by entrepreneurialexchange

If you want to learn how to grow and scale a business, you need look no further than the entrepreneurial journey taken by Lord Kirkham, founder of furniture and retail chain DFS.

He’ll be speaking at the Annual Conference about the growth strategies that took his furniture business from start-up to successful corporate and the largest of its kind in Europe.

Graham Kirkham, a coal miners son, was born and brought up in South Yorkshire and has lived in that area all his life. He left school and chose to start DFS, the vertically integrated furniture manufacturing and retailing business in 1969, rather than go into further education.

DFS was a flourishing private company for 24 years and a successful FTSE 250 company on the London Stock Exchange for 12 years. Having grown to be the largest company of its kind in Europe, Lord Kirkham succeeded in buying the business back from the shareholders in 2004 and in 2010 sold 100% of the shares to the private equity company Advent International plc.

He now runs a private family investment company, Black Diamond, with interests including retail parks, farming. Most recently he bought Iceland Frozen Foods in a £1.55 billion deal with Dubai and South African partners and the retailer’s management.

Lord Kirkham’s business achievements have been recognised with a number of honours – a Knighthood in 1995, a Peerage in 1999 and a C.V.O. in 2001

He spends a lot of time on pro-bono work including, Deputy Patron for the Outward Bound Trust, Chairman of The Duke of Edinburgh’s Award and Deputy President of The Animal Health Trust.

How to turn your business into a billion dollar success story

Posted on March 11, 2012 by entrepreneurialexchange

There are successful entrepreneurs and then there are super successful entrepreneurs. What they all have in common is a desire to share the secrets of their success, to help others learn from their mistakes and follow their winning examples.

Look at Sir Tom Hunter, Jim McColl, Richard Branson – all work hard to give something back.

Now consider Sara Blakely, the founder of Spanx. The men reading this might not recognise the brand, but for women everywhere Spanx has had a life-changing, shape-altering affect on their bodies. Spanx is body contour underwear, created by Blakely in America but now sold in shops worldwide.

Want to know how to replicate her success? Author, investor and entrepreneur James Altucher wrote this blog highlighting the key attributes that saw Blakely take her business from startup to billion dollar corporation. It happened in America, but the key learnings from Blakely’s entrepreneurial journey are relevant to everyone, anywhere.

Sara Blakely’s Spanx Story

Enlight Foundation Update

Posted on December 30, 2011 by entrepreneurialexchange

Work hard, play hard and give something back – the Enlight Foundation is the Entrepreneurial Exchange’s charity. Here, John Anderson catches up with Colette Grant and Alan Revie, two of the charity’s directors, on their work in 2011.

J: So what has the Enlight Foundation been working on this year?

C: We’ve made our first investment through the Strategic Programme to help Looked After and Accommodated young people in Renfrewshire and through the Change Programme we’re helping SkillForce Scotland to expand and work with more young people in schools in Aberdeenshire and Fife, to try and prevent them leaving school with no job or further education planned. We’ve also restructured and registered Enlight as an independent charity, which gives us greater control but also helps us work more closely with the Exchange Board.

J: Can you tell me a bit more about SkillForce Scotland and how Enlight works with them?

A: Over the last 20 years the numbers of young people underachieving in school and consequently ending up unemployed has changed little. One in nine 16-19 year olds remain not employed, in education or training and the estimated annual cost to the country is £3.65 billion, £97k per young person.

Since 2009, Enlight has been working with SkillForce Scotland who are trying to change those statistics. They provide an in-school programme that draws together vocational qualifications, community volunteering and life skills in the classroom and through outdoor activities. They work with 700 young people, who are at risk from being excluded from school, in 26 schools in Morayshire, Lanarkshire, Edinburgh and Forth Valley and now Aberdeenshire. The SkillForce programme is taken in place of a Standard Grade by S3 & S4 students and they typically spend 4 periods per week for two years with their instructors (the majority being ex-armed forces personnel), giving young people continuity, stability and positive role models.

Enlight provided financial support for a formal evaluation of the outcomes of the SkillForce which provided clear evidence of its success:

• 24% predicted exclusion from school, reduced to 4% actual exclusion
• 60% on free school meals go into further education versus just 9% nationally
• 93% gain recognised qualifications
• 94% move into employment, education or training

This national charity has undergone dramatic change in the last few years, going from 91% to 0% government (MOD) funded in 6 years. Exchange members have given their time and skills and helped to rebrand and position the charity, given advice on the business model, helped to establish a Scotland Advisory Group and invested in how the charity measures its performance and success with young people. Working to an agreed plan they’ve created a stable platform for the organisation to grow and increase the number of young people they work with in Scotland.

J: So is Enlight investing in their expansion?

A: Exactly – we helped them to secure LEADER (European) funding for three schools in Aberdeenshire and we’re working with our members in the Aberdeen area to try and raise the match funding we need for next year. We also want them to engage with the SkillForce students by giving time to go along to school and speak with them, potentially offer work placements and so on. Bob Keiller and Ernst and Young kindly hosted an event in Aberdeen earlier in November so we could explain to members there how SkillForce will help their local teenagers and how they can get involved.

J: You mentioned the Strategic Programme how is that different to your work with SkillForce?

C: Our Strategic Programme focuses on one of the most significant challenges in Scotland today – changing the future life chances for young people who are looked after or in care. Most children and young people become looked after for care and protection reasons. These can include neglect, mental, physical or emotional abuse, parental substance misuse or poor parenting skills, or a child or young person may have become involved in the youth justice system. So there’s a synergy between the two programmes with the backgrounds of the young people and the challenges they face, and the focus on education and skills development. The difference is the Strategic Programme is looking at even earlier intervention and systemic change by working directly with local authorities.

J: So what does that mean in terms of your work with Renfrewshire Council?

C: The number of looked after children in Renfrewshire is the highest it has ever been and they have seen a 30% increase in the number of LA Children in the last five years. We’ve provided funding and pro-bono support for a model that’s working with 8-13 year olds to improve their education attainment, but also attendance, behaviour and engagement. It’s such a critical time as this is when evidence shows you begin to see a difference in numeracy and literacy skills and there’ the difficult transition to high school. By working initially in primary schools we can provide the support they need to achieve in line with their peers – or even better – achieve more.

J: Has it been challenging working with the public sector?

C: There are undoubtedly differences between the public and private sectors, but In Renfrewshire we’ve seen an authority that really wants to change and is looking for external advice and input. We’re supporting them with a longer-term strategy to re-focus their children’s services to achieve the best outcomes for its most vulnerable children. It’s an ambitious and radical approach that’s unprecedented in Scotland – that takes real leadership and ambition.

J: So what does the future hold for Enlight?

A: Next year we’ll be looking to expand both of our existing programmes and considering new opportunities, but we can only do that with the support of our members. We carried out some research earlier this year with members to make sure our original vision of a venture philanthropy which enables members to give expertise, skills and time pro-bono as well as money was still of interest. We had a very positive response and we’ve taken all of the feedback on board. We know our members have the chance to achieve something spectacular by working together and Colette, Jim McColl and I are really excited to be part of it.

If you think you can help, by giving time or some financial support, or would like to find out more contact Imogen Assenti from Enlight on 07793 238460 or imogen@en-light.org

Entrepreneur of the Year Finalist – John Watson OBE of John Watson & Company

Posted on November 28, 2011 by entrepreneurialexchange

John Watson OBE has always been ahead of his time when it comes to business and despite having worked with, managed and led John Watson & Company (JWC) for more than 45 years he has no intention of changing his innovative ways as he drives the firm towards its next phase of expansion.

JWC, founded in 1824, is one of the oldest printing companies in Scotland producing some of the finest design and print related products using the most advanced technology in the industry. Chief executive John employs 100 at his printing facility north of the city centre and serves a core of blue chip companies in the drinks industry, particular the Scotch whisky sector, as well as a number of firms through JWC’s commercial division.

John joined his father in the business in 1965 at a time when JWC was primarily a stationery retail business and jobbing printing company. However, even at an early stage it was clear to John that the focus of the business needed to be realigned to realise its full potential. When he took over the firm from his father in 1971, John set about establishing JWC as one of the leading bespoke printing businesses in Scotland.

Over the years as the company grew John advocated the importance of innovation as being the key to success, along with the firm’s ability to offer exceptionally high standards; not just in terms of the goods manufactured but also the service offered. A key foundation to this success has been to stay in touch with the key issues and challenges facing his customers. The firm deals with a range of customer issues from rebranding exercises to implementing anti-counterfeiting measures.

While the Scottish market is in a mature state and the printing industry in general is in decline, John has still maintained a profitable and financially sound business through challenging times, with turnover reaching £9.7million in March 2011. 2011 also saw the installation of a new state-of-the-art £3m Gallus PSL (pressure sensitive label) press demonstrating John’s confidence in the future,

John has sought to challenge many of the overseas markets where the competition is even fiercer than in the UK by entering the French, Irish and Russian markets as he strives to strengthen JWC’s global reach.

Thanks to his contribution to the printing industry, as well as his charity endeavours, John was awarded an OBE in 2006.

Jim Boyle, partner and head of entrepreneurial business at Deloitte, and awards judge, said: “Over the years John’s clear edge has been his focus and his ability to understand the needs of his customers and being able to offer solutions that are of the highest quality, on budget and to the right timescales. His drive, determination and resilience over his 46 year journey is an inspiration to anyone starting out in business.

“John’s energy, enthusiasm and vision has helped him to establish and maintain, over an entire career, a profitable business with a top class reputation and growing customer base.”

Entrepreneur of the Year Finalist – Stuart McLeod of qedi

Posted on November 28, 2011 by entrepreneurialexchange

Stuart McLeod’s entrepreneurial spirit knows no bounds. His prowess for spotting business opportunities saw him establish his first oil & gas services company in his 20s – during the 1980s’ economic downturn and in the unknown Azerbaijan market. Since then, Stuart hasn’t looked back.

Having sold his business in return for an equity stake in qedi, Stuart has gone on to be the major driving force in building the company into a global-leading company. Despite the latest recession, qedi has not only bolstered turnover from £20million to £60million – breaking its 2010 target forecast of £48million – but also accomplished its goal of a 35% growth rate.

Aberdeen-headquartered qedi is a market-leading oil and gas commissioning and technology specialist. The company, which is now part of international engineering and project management company AMEC, employs more than 350 people both in Aberdeen and internationally. In the past year alone, it has created more than 200 new jobs.

qedi’s success is underpinned by its proprietary GO Technology® which is not only fast becoming industry standard but integrates traditional oilfield skills with new computing technologies to help further internationalise Scotland’s world-class expertise for the future.
Industry uptake of the license for GO Technology® has increased by more than 150% over the last three years.

Stuart, a former Scottish chairman of the Energy Industry Council, further demonstrated his foresight for business intelligence and enterprise when he secured a deal earlier this year to ensure qedi consolidated its position for future global growth. The company was acquired earlier in 2011 in a £33m deal by AMEC whose cross sector expertise, global networks and customer relationships strengthen and support qedi’s offering to new and existing customers, in Aberdeen and globally.

Jim Boyle, head of entrepreneurial business at Deloitte and judge for the awards said: “Stuart’s focus and determination, combined with his refreshingly honest approach have seen him develop qedi from a small stable commissioning company into a successful, internationally acclaimed business, positioned as a high value, attractive target for acquisition. This is particularly impressive in an industry renowned for its reluctance to adopt new technologies and solutions.

“Stuart has achieved this through his ability to create strong teams, to manage complex individuals and to get those individuals and teams to perform at the highest level. The sale of the business to AMEC is a testament to Stuart’s energy, drive and ambition.”

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