We’ll be asking our members to share the key business challenges they are facing; maybe you’ll learn something that will help your business, or maybe it will be enough to know that you’re not facing them in isolation.

First up are: David Frame of B&D 2010 Group, Hamish Robertson of RT Franchises, Simon Burges of BiP Solutions, Liz Hoskin of Positive Qualities, Nick Cohen of PCR IT and Billy Lyle of Target 360.

Our Evening Exchange with Gilad Tiefenbrun commenced sonically with Glasgow’s own legendary jazz vocalist, Carol Kidd, played through Linn’s stunning Klimax DSM digital streamer and 350A loudspeakers.

Gilad’s approach was laidback and relaxed, no script was in sight and some intriguing images were displayed, which certainly added to his story.

Linn Products was founded by Gilad’s father, Ivor Tiefenbrun, on February 19th 1973 – I was exactly 1 year old that day. The company became very successful over the years, particularly through the creation of the Linn Sondek LP12 turntable.

However, in the early 2000′s, the business lost focus somewhat, having branched into consumer electronics like CD players and unfulfilling partnerships with Aston Martin to name but one. (The latter may sound good on the surface, but the reality was that dealing with the Ford Motor Company presented a whole range of unforeseen everyday challenges.)

Meanwhile, within the company some individuals favoured their own interests over the interests of the business as a whole. It appeared that Linn Products had quite possibly become a collection of mini empires.

As Ivor’s health started to decline, conversations began with his London-based son with a view to him coming to work in the business.

Depending on who tells the story, you get a different version of events.

Ivor’s account is that Gilad asked to come to work in the business several times, while Gilad insists that Ivor requested his presence repeatedly before he finally relented and began working in the product development side of the company.

As Linn Products moved further into the second half of the 2000′s, previously unheard of debt started to build in this once prudently-run company, even though the turnover had actually risen. In fact, the economic climate had completely changed and banks were putting increasing pressure on businesses like Linn. Action needed to be taken.

Stepping up to a leadership role, Gilad pushed for the company to remove itself from the low-cost, low-profit areas of operation especially CD players , and instead investigate products of the future, including the aforementioned Klimax DSM digital streamer range, which provides studio-quality listening pleasure from the home network rather than the spinning disc.

He worked to retain the people who had the best interests of the business at heart and on whom he knew he could rely.

The company went through a painful few years, but with the right leadership in place (Gilad became the MD in 2009), a new, transparent way of operating emerged. Now all staff can see how well the company is performing, there is a great team spirit and a highly supportive non-executive board. The company is once again going from strength to strength.

In summary, it was an entertaining and enlightening talk about how a strong, vibrant and high-quality business can suffer if it loses focus and has the wrong personnel on board, but also that ultimate failure can be avoided if people taken decisive action early enough and all share a common vision.

From a personal viewpoint there were many things I took from Gilad’s presentation; these would be my top three:

1. Always plan for succession, not only for that of your own role, but also for everyone else.
2. Don’t let your staff hide – make sure all main business performance metrics are displayed for all to see in an easy-to-understand manner (ask Gilad about his ‘whiteboard’ system).
3. Don’t let managers or supervisors ever prevent you from personally talking to any of your team or allow them to ‘have a little word’ with them beforehand.

As Gilad wrapped up the talk and prepared for questions from Exchange members, we were treated to the music of Katherine Bryan and the Royal Scottish National Orchestra, Liebermann Flute Concertos, recorded at the Glasgow Royal Concert Hall.

The night had been a thoroughly enjoyable, insightful and useful event and another timely example for all entrepreneurs that we aren’t alone in the dark times or the successful times. The Exchange provides a great peer group with whom you can share the good and the bad, and helps us all focus on our individual targets.

Thanks Gilad for such a thought-provoking and open presentation, which no doubt will be of great use to many who attended your evening.

Kev Ashcroft – Blinkered

The Opportunities for Scotland

An interview with….
The Right Honourable The Lord Smith of Kelvin

Tuesday 22 May 2012
Registration 5.45 pm

Free

To celebrate the launch of an ambitious plan for growth for The Entrepreneurial Exchange in Tayside we are delighted to present an audience with Robert Smith, Baron Smith of Kelvin, one of Scotland’s most influential business leaders.
Robert Smith is one of Scotland’s leading business figures. He joined the Board of Scottish & Southern Energy as a non- Executive Director in June 2003 and became Chairman in January 2005. Lord Smith is also Chairman of the Weir Group PLC joining the Board in February 2002 and being appointed chairman in July of the same year. In addition he is a non-executive director of 3i Group plc, Standard Bank Group Ltd and Aegon. He also chairs Glasgow 2014 Ltd, the organising committee for the Commonwealth Games. He is currently a member of the Council of Economic Advisors to the First Minister of Scotland, Chancellor of the University of the West of Scotland and patron of the Scottish Community Foundation. He also chairs The Smith Group, which studies opportunity pathways for young people not in education, employment or training. A former chairman and chief executive of Morgan Grenfell Private Equity he was also chief executive of Morgan Grenfell Asset Management from 1996 until 2000 before becoming vice chairman of Deutsche Asset Management between 2000 and 2002.
The evening will be chaired by Exchange Chairman, Chris van der Kuyl who will interview Lord Smith on a wide variety of subjects including the role of Culture and Sport in a vibrant economy, the opportunities for renewables and engineering in Scotland and the inclusion agenda.
The Exchange would like to invite a wide audience from the business, academic and civic leadership communities of Tayside to come and join us for a fascinating insight into Tayside and Scotland’s future.
To book your place please contact Karen McTaggart at the Exchange office on 01698 285650 or at karen@entrepreneurial-exchange.co.uk.
We look forward to seeing you there.

The D’Arcy Thompson Lecture Theatre
Ground Floor, Tower Extension
University of Dundee, Nethergate, Dundee, DD1 4HN
http://www.pp.dundee.ac.uk/campusmap/?id=9a367565c33bd3a7

Wikipedia says entrepreneur is “a term applied to a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome”.

Even entrepreneurs themselves have their own definition of the term. But what actually makes an entrepreneur? What are the key characteristics of an entrepreneur?

This is the first in a series of short video blogs highlighting Exchange members and their interpretation of what makes an entrepreneur.
It features Simon Burges of BiP Solutions, Liz Hoskin of Positive Qualities, Nick Cohen of PCR IT, Billy Lyle of Target 360, Hamish Robertson of RT Franchises and David Frame of B&D 2010 Group.

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

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.

Jan and I were lucky enough to be awarded interns of the year for our work as Interns at the Scottish Institute for Enterprise this year. At Edinburgh University, I organised enterprise-related events, promoted SIE to other students and maintained an online presence for the organisation via social media sites. In recognition of our hard work, our reward was to attend the Entrepreneurial Exchange Spring Conference at Gleneagles.
From the moment we arrived in the car park, it was clear that everything about the venue spoke of class, refinement and all things Scottish- at their best. As we entered the reception space of the conference, the grandeur of Gleneagles was complemented by the warm and friendly atmosphere of the delegates- as young newcomers, we were welcomed in wholeheartedly and straight away made to feel at ease talking to anybody in the room.
The conference itself lived up to all expectations. My favourite speaker of the day was Colin Robertson of Alexander Dennis. Although not an immediately glamorous business, designing and building buses, as Colin explained about the company and the industry my interest grew. What struck me more though was Colin’s incredible achievements during his time at the company- truly remarkable. His attitudes to conducting business, customer service and staff satisfaction all came across as exemplary. In all, his down to earth personality coupled with fantastic achievements and drive made his talk genuinely inspirational.
The networking opportunities presented at this event were fantastic for Jan and I. Over dinner, and afterwards drinks at the bar, we met a vast range of people from all backgrounds in business- it was actually quite surreal in many ways. I came away with several contacts which will hopefully be able help me in my start-up venture.
In all, this experience has been wonderful. Immensely useful contacts, interesting speakers and a really good night of food, drink and enterprising banter- what more could we have asked for?

Originally from Leicestershire in England, I am a young designer based in Edinburgh. Soon to be graduating this year from Edinburgh College of Art with a BA Hons in Interior Design, I am interested in starting up freelance as an architectural and scale model maker. I have been shortlisted for the Deutsche Bank Award for Creative Enterprises this year, which could prove to be the boost I need to get off to a flying start.

Ross Smith of Mindshelf shared some brand strategy gems during his presentation, and in this short video blog he summarises some of the key points and talks about the importance of brand as part of a company’s growth strategy.

“Caution and patience”

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