Peer Advisory Boards are not a widely known concept among UK Business Leaders so we thought it might be useful to share a recent chat we had with one of our members who has recently sold his business.
After selling a business, many entrepreneurs face the question: What’s next? This article shares the journey of an exited business leader.
What differentiates your products or services from your competition?
Mastering Elevator Pitches - your 30 second success story!
Employee suggestion schemes often get bad press.
Getting people who are focused on their own product sets to promote and mention different products/services your organisation offers to potential customers can be a big challenge
Another missed opportunity perhaps?
Business Risk and the lip service paid to Disaster Recovery Plans
Lessons learned from a one legged stool
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Uncover ‘Social Loafing’ in business teams, its impact on performance, and the importance of cost control in growing businesses
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Hook, Line & Sinker: Mastering the Art of Selling...
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Is boredom one of the main reasons employees leave an organisation?
Is there a future for remote working? Is flexibility and support the key?
Discover how the post-pandemic shift in remote work is affecting career opportunities and business services
Some time ago the pro bono charity leader of one of our Pabasso - Peer Advisory Board Associates groups asked if we knew any potential trustees willing to work with the charity.
Not all good practitioners make good managers, not all good players make good managers, not all good sales people make good managers, etc., etc., etc.
As 2023 draws to an end we should all have our budgets, business plans and strategies in place for 2024. But what about your personal high-level goals for 2024, have you really focussed on what they are?
Bring some light to those in need this Christmas with Candlelighters
We all know that meetings are essential in business but too many internal meetings and meetings that go on too long can definitely be counterproductive.
Most successful business leaders get to their position because they are bright rather than Business Politicians. In the words of Yogi Bear – It’s because I’m smarter than the average bear.
LinkedIn recently published its Future of Recruiting Report 2023 which, amongst other interesting insights, observes that 75% of recruitment professionals predict ‘skills-first’ hiring will be a priority for their company in the next 18 months. Furthermore, statistics show that the share of job posts that do not require a Degree has grown by +30% over the past 6 months.
Any business that does not have a good CRM system is missing a trick, they are one of the most fundamental business tools to emerge since the card index – for those experienced enough to remember them!
Many forward-looking businesses recognise the importance of having a well-trained sales function and invest in their salespeople, but too many businesses still treat salespeople with too little respect and resist ‘investing’ in them.
Most businesses need to develop products/services and technologies before they go to market but the danger is that they then sit on their laurels and do little further innovation or R&D to keep them ahead of the game. This scheme encouraged them to continually innovate.
Through our experiences in creating Pabasso for UK business leaders, we have learnt many things, the foremost being that most business leaders in the UK have no concept of what a peer advisory board is and therefore the benefits that they can get from membership.
The heatwave we have experienced over the last few weeks has made it challenging for many people working in non-air-conditioned environments (of which there are many) where business dress is still the norm.
In today’s dynamic and competitive business landscape, developing and executing effective strategies is paramount for organisations to achieve growth and maintain a competitive advantage.
As businesses grows, regular reporting to stakeholders becomes more challenging yet more important. I define ‘stakeholders’ as anyone who has a vested interest in the continued success of your business e.g. Directors, employees, shareholders, key suppliers, selected customers, professional advisors etc.
One of the many challenges in growing a business is maintaining and developing the culture that got the business off the ground, got traction and attracted great talent who wanted to be part of a great business.
The term Unicorn first crept into the business vocabulary in 2013 and according to the Oxford Dictionary is a ‘start-up company valued at more than a billion dollars’. Interestingly the same dictionary offers an alternative definition – ‘something that is highly desirable but difficult to find or obtain’.
Sharing ownership in your business with your team brings many proven benefits.
Recruitment and retention remain a big challenge for many UK businesses and it’s not just down to what Kwasi Kwatend described as “the low-wage, high-immigration model” (when he was Business Secretary from 2021 to 2022)
When joining a new business or engaging with them as an advisor or potential investor one of the greatest assets the business can provide is an organisation chart or organogram.
If you lead a great business but recognise that you could become even better by sharing experience and expertise with 12 other Yorkshire-based MDs/CEOs/Founders then we have an opportunity that might interest you.
I came across the term ‘Option Strategy’ in the forward to a book I read recently entitled ‘Built to Sell – Creating a Business That Can Thrive Without You’. The book was recommended to me by one of our Pabasso members, we often discuss with our members how to maximise the value of their businesses and where they should invest for the future.
We often talk about incentive schemes with our Pabasso clients. Every incentive should be designed to drive the desired behaviour and be time limited e.g this bonus/incentive scheme runs for the next 12 months – vital to avoid the law of unintended consequences.
When I came across the Japanese expression Tsundoko – the phenomenon of acquiring reading materials and letting them pile up in one’s home without reading them, it really resonated with me and when I came across this image I felt I needed to share it with all you other books worms – so this is my Christmas card for 2022.
A fact well known to us at Pabasso – Peer Advisory Board Associates where we bring Business Leaders together from non-competitive sectors to share experience and expertise, provide advice, support, help evaluate opportunities and solve problems – all with the single goal of business improvement.
That headline got my attention, it’s the title of a survey of over 500 founders and CEOs done by ECI, an experienced mid-market private equity firm.
In a recent Pabasso meeting we were discussing mental health and the benefits of getting away from your desk to get some fresh air and exercise which led to a discussion about providing walking maps at your business premises, recognising that not everyone is a gym rat or a runner and do not always want that intensity of exercise (and sweat) at lunchtime.
In case you are not aware OKR stands for Objectives and Key Results and TLA stands for Three Letter Acronyms – I blame IBM (International Business Machines) who started all this TLA stuff.
Whether or not you subscribe to the theory that “When America Sneezes, the World catches Cold” we cannot ignore what is happening in their Labour market.
Being the leader of a business is a very privileged position but it also comes with its challenges. I have had a number of conversations recently with business leaders who are feeling challenged at the moment and that’s unsurprising given the economic outlook, so let’s not ignore these pressures.
I posted a great message on Linkedin last week from Richard Holway MBE for the generation of business leaders that were not around the last time we had high interest rates. Yes, you will face some challenges and times may be tougher than you have previously experienced – but you can get through these challenges and from these challenges will emerge more opportunities. When the going gets tough the tough get going!
ECI Private Equity recently sent me a copy of this report which they compiled having surveyed 200 HR Leaders, It’s an interesting and well worth the 2-minute read.
I have been fortunate enough to attend a few informal face-to-face events recently launching new offices, a new product and a new service. Such things were commonplace before the pandemic as they are a very effective way of producing business opportunities. However, it would appear that we may have forgotten why we hold such events.
The dilemma is whether it is possible to grow the business without some external funding?
Remove the mystique as to how local businesses of all sizes can benefit from working with Leeds University Business School. They have some great value programs designed to help local businesses grow.
It’s fantastic news that the great work we are doing at Pabasso has been recognised publicly as our Founder, Richard Doyle was the winner of the ‘Mentor’ category at the Northern Leadership Awards dinner held on the 25th May 2022. If you want to know more about how we help forward-looking business leaders grow and develop their businesses, then please get in touch.
High inflation, fragile post-pandemic employees and the challenges of retention and recruitment due to high employment are top of the agenda of most employers as is evidenced by the discussions we have with our Pabasso group members.
Many years ago when I ran my tech business I was reviewing our training budget and I came across a course about mentoring in the workplace. Like many businesses, we always sought outside help for training programs and this was no exception, I signed myself up for the course, it was enlightening.
I had a very interesting conversation the other day with the owner of a golf course. I asked how they had managed through the pandemic and how, if at all, anything had changed, I was not shocked but I was surprised by the answer.
I recently posted this article on LinkedIn which might resonate with you.
We are delighted to share that our Founder and Chair, Richard Doyle, has been shortlisted for this year's Northern Leadership Awards.
This article is for Business Leaders about the need to be continually looking for growth in your business and the need to evaluate growth opportunities carefully
As most business leaders know the labour market is currently tight across all sectors, some as a result of Brexit but in the professional world, it appears to be as a result of senior employees who have had time to think and re-evaluate throughout lockdown and deciding to retire. This has left a big hole to fill.
Every business leader should see these words as a challenge, the world of business has never moved at as fast a pace as it does today, primarily driven by ubiquitous access to high-speed broadband, the instant access to information that this provides, and advancements in technology.
Such powerful yet little-used words. As Business Leaders we should ask ourselves the same question.
Most business leaders are time scarce, so much so that many struggle to find the time to invest in strategy planning, problem-solving and exploring opportunities. This often means that you do not have any time to invest in personal development or time to work on rather than in the business.
We have had a number of conversations recently with some of the business leaders in our Pabasso boards (spawned by the current recruitment and retention challenges) about employee engagement and the concept of ‘Leaders Lunches’.
We recently invited the Director of External Engagement from Leeds University Business School to one of our Pabasso – Peer Advisory Board Associates meetings as we are aware of some of the support programs they have available for Business. We had a very interesting discussion and they certainly have plenty to offer – most of it free or heavily subsidised.
"What if we don’t train them and they stay?" replied the experienced CEO.
s the government announces today that no new diesel or petrol cars can be sold after 2030 many businesses who are reliant on the sale of such cars will be taking a deep breath.
We have just published an article about Work-Life balance which you might find interesting.
We have had a number of conversations recently with our Pabasso peer advisory board members about the challenges of getting colleagues to meet face to face which prompted me to do this post on Linkedin, you might find it useful.
Delegation is a subject that often comes up in discussions with Pabasso clients as it’s such a key skill for business leaders and their senior leadership teams.
There is no need to panic if you are a CEO of a growing business and you are looking for ideas, solutions and assurance – we have them in abundance in our Pabasso – Peer Advisory Board Associates boards.
I am grateful to my friend Martin Port of the Big Change for mentioning a blog by Jobvite in his regular Saturday blog in the Yorkshire Post. We have been talking about the value of having a structured employee referral program recently with some of our CEO’s in our Pabasso peer advisory boards so I thought it was appropriate to share this link.
Without doubt. Can we totally eliminate them? No.
We have had a number of discussions recently with Pabasso members regarding losing key employees – either through dismissal or them choosing to leave. This is something all business leaders experience from time to time and it is better to be prepared rather than shocked when it happens.
We have talked about the value of 360-degree reviews recently with a number of our CEO’s in our Pabasso.com peer advisory board
As we start to return to some sense of business normality and confidence returns, recruitment is back on the agenda – not just for us but for our competitors as well. This is stimulating some employees to consider a move that they might not have considered some months ago when we were in the grip of the pandemic.
Don’t let perfection be the enemy of productivity.
In these current times where we have an ongoing debate about various topical issues including Me too, Black Lives Matter, Brexit, Working From Home, and now of course whether Covid vaccinations should be compulsory for return to work, it’s vital that as business leaders we do not stifle such debate but that we do not allow it to impact on our workplaces.
Leaders of growing businesses inevitably reach a point at some stage in their development where they are faced with the decision to grow steadily under their own steam or to seek outside investment to accelerate growth.
As people start to return to work, either full time or in a hybrid (some days in the office some days at home) mode, a new phenomenon is emerging which as business leaders we need to be aware of – Fear of Missing Out!
I downloaded a ‘Playbook” recently on the subject of referrals which I was reminded to revisit following a conversation with one of our Pabasso.com board members whose business converts about 80% of referrals from existing clients into new business.
We had a very interesting discussion yesterday in one of our Pabasso – Peer Advisory Board Associates business leaders about the development, motivation and management of people in the return to work ‘hybrid’ world and the different and completely new challenges this brings to all business leaders and managers.
A week yesterday was International Women’s day, yet 2 days later a report from the respected McKinsey and Company tells us that post-Covid one-quarter of women in corporate America are thinking about leaving.
As an experienced Non-Executive Director (NED) I regularly get asked if a NED will help my business and, are we ready for the level of commitment required? The answer to the first part of this question is inevitable yes, the second is less straightforward.
One of the more challenging roles of being a business leader is having tough conversations. The military refers to this as ‘not walking past bad behaviour’, I use the term ‘face the issues’, a leading sportsman and team captain very eloquently articulated it as ‘the standard YOU walk past is the standard YOU accept’.
Forbes: Peer Advisory Boards: Myths And Facts. There are a number of reasons some business leaders do not appreciate the benefits that they can get from joining a Peer Advisory Board and this article dispels 5 of those myths.
A very insightful article on the value business leaders can get from joining a Pabasso.com – peer advisory board.
We are not for one minute suggesting that the leaders of growing businesses that join Pabasso peer advisory boards are not wise – more that they are wise enough to know they don’t know what they don’t know, which is one of the reasons they join a Pabasso peer advisory board.
As we start 2021 many of us will have found ourselves with some free time over the festive period to reflect on the highs (yes you will have some) and the lows of 2020 and what you might like to achieve in 2021.
An inspirational story for working Mums leading growing businesses.
When the remarkable Mother Theresa said ‘You can do what I cannot do. I can do what you cannot do. Together we can do great things’ she was definitely not thinking about Pabasso peer advisory boards.
You can’t lead a great business without continually learning and this is typically done formally on specific courses and informally through experience and by learning from others.
His intellectual achievements and originality have made the word “Einstein” synonymous with “genius”
Anyone who has studied economics will be aware of the great economist John Maynard Keynes.
Would you like to meet with up regularly with up to 12 like-minded, enlightened CEO’s of growing businesses to help you progress?
According to the Harvard Business Review, half of CEOs express feelings of loneliness.
I’ve long advocated to business leaders that the key to success is to recruit the best people you can afford.
Business leaders that are in Peer Advisory Boards get unbiased feedback from their fellow CEOs in the board.
You’re a Business Leader, you know the future can be better, David Brooks does and so do we at Pabasso.
Innovation – what percentage of your revenues come from products and/or services you have introduced in the last 3 years?
Trusted Advisors – A brief video of how business leaders develop a team of trusted advisors by being a member of a Pabasso peer advisory board
A few pointers in this brief video about recruiting key personnel in growing businesses.
There is no doubt that leaders of growing businesses with good peer support networks will be finding their way through this Corvid-19 challenge more easily than those without such a support network.
‘Many of us are more capable than some of us – but none of us are as good as all of us’.
Corona Virus is causing many businesses leaders to face the biggest challenge in their careers and there is no easy solution nor is there likely to be one in the foreseeable future.
When I was CEO of Esteem Systems one of my top guys came into my office early one Monday morning to tell me he had been looking at the Sunday Times Rich List.
If you are an ambitious CEO leading a growing business you should consider joining a Pabasso Peer Advisory Board.
