The Climate is Changing: and We’ll have to Change with it


Last week in City AM there was an article on the big banks. Not on the threats they face from fintech. Not on the gaping holes that will appear in our high streets as the traditional bank branches inevitably close. No, it was an opinion piece: How Banks should be looking at the Climate Change Challenge.

Meanwhile the previous Friday had seen schoolchildren around the world come out on strike to raise awareness of climate change – and call on the older generation to do more about it. 

Climate change is front and centre. Whether it is fires in the Amazon or floods in North Yorkshire it’s on virtually every news bulletin. 

I suspect there will be the full range of opinions among people reading this blog. There’ll be those who believe – as I do – that climate change is entirely man-made. There will be those who believe the Earth simply warms up and cools down and we just happened to start measuring as it was warming up.

There will be people who regard Greta Thunberg as the outstanding young woman of her generation. There’ll be those who see her as the modern equivalent of the medieval priestess, wandering from village to village claiming to have seen a vision from God. 

For the purpose of this blog, what you believe doesn’t matter. Climate change – or, if you like, the perception of climate change – does matter, because we as business owners are going to have to deal with it. 

If you go back 15 months to June 2018 – and what a calm, measured time in British politics June 2018 now appears – the Commons Environmental Audit Committee was recommending that climate risk reporting should be mandatory by 2022. That large companies and ‘asset owners’ (such as pension funds) should be compelled to report on their exposure to climate change risks and opportunities. 

Mary Creagh, the Labour MP for Wakefield who is Chair of the Committee, said, “Long term decision making must be factored into financial decision making.” 

Back in June 2018 I suspect most people reading this blog would have read that report, shrugged and moved on. They didn’t come under the Government’s definition of a large company, they didn’t run a pension fund and while climate change was important, it wasn’t quite as important as meeting the year’s targets. 

But events have moved very quickly. Whoever is Prime Minister this time next year is going to have climate change right at the top of their agenda. And never mind large companies and pension funds – I suspect it’s going to impact all our businesses. 

There will, of course, be people who say, ‘Why bother?’ At first sight the case is tempting. After all, China has produced more steel in the past two years than the UK has ever produced. Clearly producing all that steel must have had some environmental impact. 

Pollution in our oceans? More than 90% of all the rubbish polluting our seas comes from just 10 rivers. The Yangtze alone pours an estimated 1.5 million metric tons of plastic into the Yellow Sea each year.

So as someone recently said to me, “Paying 5p for a plastic bag ain’t going to make a whole lot of difference, Ed.” 

Statistically, it isn’t. But just because pollution is happening on a huge scale in some parts of the world, it doesn’t mean we can ignore smaller scale problems at home. 

What the UK does have is a voice – and the impact that voice can have is huge. But if we are to have any influence, we have to put our money where our mouth is: we have to walk the climate change talk. 

That brings me back to the politicians. I’m writing this on Wednesday afternoon, just after Boris Johnson’s conference speech. He referenced climate change and the UK’s move to being carbon neutral any number of times in the speech. He may or may not be Prime Minister this time next year: but if he’s replaced, it won’t be by someone who puts less emphasis on climate change. 

Exactly the opposite. 

If one-in-three businesses don’t have any plan in place for Brexit, then I suspect that barely one in 300 has given any thought to an annual ‘climate change audit.’ 

But I would wager a Newcastle United season ticket – and there’s a currency that makes Bitcoin look stable and secure – that five years from now we’ll all be submitting a lot more than our accounts to Companies House. I think an annual report on your energy use/commitment to green energy/exposure to climate risk is inevitable. 

…As are more protests. Someone asked me recently if I’d be prepared to let the TAB head office staff have time off work to protest against climate change. Make no mistake, climate change is going to present plenty of issues for business owners to deal with. It would be a good idea to start thinking and planning now. 

Interestingly, my youngest son asked his head teacher the ‘could I have time off’ question. Could he miss a few lessons so he could join in the protests? “Of course, Rory,” the head replied. “You can go at lunchtime when you’d be playing football.” 

He swiftly re-considered…

Your NOT-To-Do List


The children have gone back to school, the nights are drawing in, there’s only a month until the clocks go back. Christmas has appeared on the horizon, you’ve spotted a 2020 diary in the shops…

Which means that for many of us thoughts are already turning towards plans for next year. For what you want to achieve in the year – and, by implication, what you need to do in the first quarter and first month of 2020. 

No question about it, you’ll march confidently into your office on Thursday 2nd January, pull that brand new pad towards you and – knowing exactly what you’re going to achieve – confidently write ‘To Do’ at the top.

But there’s another list you need to write. Not just for 2020, but starting now. And in my view, it’s even more important than your ‘to do’ list. 

Your ‘Not To Do’ list. 

I can still remember the shock I got the first few weeks I used Toggl and realised how much of my time wasn’t being used effectively – and how many things I was doing very definitely belonged on a not to do list. 

Despite the technological advances of modern life virtually all of us are leading busier and busier lives: perhaps because of those advances. How many of us check our e-mails just before we fall asleep? 

Add in family commitments – and for many people reading this blog, taking care of ageing parents is now starting to become a major commitment – and all of us have a seemingly endless to-do list. 

At work you need to delegate: at home you need to decide what’s really important. 

Let’s start in the office. Delegation is one of the hardest skills to learn. It is all too easy to sigh and think, ‘It’s quicker to do it myself.’ But you cannot build a business without delegation. Sometimes ‘done’ is more important than ‘perfect.’ 

And as I have written many times, it is not your job to be the best engineer, coder or salesman. It is your job to lead a team of outstanding engineers, coders and salesmen – and to help them go on improving. 

So as you contemplate your plans and targets for 2020 ask yourself – or get someone else to ask – why should YOU be doing that? And delegate what you can delegate, whether it’s to your own team, or to an outsourced specialist. Even starting a ‘not to do’ list will be a valuable exercise: it will unquestionably challenge some of your long-held assumptions about what your job really is. 

Time to come home – where exactly the same principle applies. Let me give you just one example. One of the best decisions Dav and I ever made was to hire a gardener. Andy comes for three hours a week, he cuts the grass and generally keeps the garden under control. We pay him £60 and it is a superb investment. It gives me three hours – longer, really, as I’m not as good a gardener as Andy – which I can spend with my family or simply de-stressing myself. Or yes, as has recently been pointed out to me, hacking out of the rough…

There is one final, and very important, point about your ‘not to do’ list. It doesn’t just apply to you. 

Take a look around you. Is everyone in your team seriously making the very best use of their time? Or are they doing jobs that really could be delegated, allowing them to do much more important work? 

We were guilty of this at TAB head office. Members of the team were doing admin tasks that they really shouldn’t have been doing. That wasn’t a failing: we’d simply reached one of those moments every business reaches from time to time. We’d expanded, there were new challenges, the team needed to focus their attentions elsewhere. 

So Tracey has joined us, she’s immediately picked up a whole range of admin for us and that has helped the existing members of the team to focus on what’s really important. It’s also given them some time to think – to stand back and look at the business. 

I’ve often talked on the blog about working on your business not in your business. A ‘not to do’ list helps you do that. Equally importantly, making sure all the members of your team have a ‘not to do’ list means they can sometimes work on their part of the business not – as Stephen Covey put it – constantly be ‘in the thick of thin things.’ 

And now, with exactly 13 weeks to go until we all abandon the office for Christmas, time for me to make a list…

Is it Time to Abandon the Office?


Last week found me in Berlin. I was meeting my TAB colleagues from Europe and the two top guys from TAB in the US.

As you can imagine, we occasionally strayed into politics – on both sides of the Atlantic – and it is fair to say there were interesting, and differing, views. But there was also a combined goodwill to make progress and to make things work – which absolutely transcended any differences. We may need to invite a few politicians to some TAB meetings…

We now meet twice a year: we’ve been doing this for three years and the more we get to know each other, the more the dynamic improves. As the group expands, so it takes in more backgrounds and cultures – but it’s fascinating to see how TAB, and the very simple concept of peer support, transcends those cultures.

But as I flew home my overwhelming impressions was of the progress we’d made at meetings that weren’t meetings. The amount of progress we’d made over drinks, dinner and simple conversations as we walked around Berlin was simply amazing. And it is a lesson that we can all use – and benefit from – in our businesses.

It has been a long-running theme of this blog that if you want to think differently you need to be somewhere different: that if you simply sit at your desk you will always think in the same way you’ve always thought. To use the well-worn cliché, thinking outside the box is impossible if you are sitting in the box.

Is that just my personal preference, or is there any evidence for it?

Before I answer that, let me take a step back. How much time do we spend in meetings? According to one article I read when I was researching this post, 11m (yes, million) meetings are held every day in the US. On average, people attend 62 meetings a month, with over 15% of a company’s collective time spent in organisational meetings.

There is no way to verify the accuracy of those figures – except that based on my experience in the corporate world, they feel right.

The figures are quite staggering. How much productive time, or how much of a country’s GDP, is lost to meetings doesn’t bear thinking about it.

But meetings are inevitable – and so we need to get the maximum from them. And that’s why I think you should meet ‘off-site’ as often as you can.

There are any number of tips for making sure that off-site meetings are successful. The key one for me is to be clear about what you are trying the achieve. Yes, obviously visit the venue beforehand (not always a given…) but more importantly than that, know why you are going there.

What is the purpose of our twice a year TAB meetings? To learn from each other, to share ideas that are working, to solve common problems and to look at the business from a different angle. And to ask the questions that we don’t have time to ask in the other 50 weeks of the year.

And as I’ve said above, the more time my colleagues and I spend out of the ‘office’ – or the hotel meeting room – the more productive we are. And that is true for every organisation I have ever worked in.

Why is that?

When people meet off-site – possibly because they have made an effort to get there, possibly because of a different setting – they are more focused. Remember to keep changing the venue though. ‘Off-site’ does not mean the same hotel on the fourth Friday of every month. Familiarity may breed contempt, but it also breeds the same way of thinking and expecting the same result from a meeting.

I’ve already touched on it with my outside/inside the box comment, but there is no question that people are more creative away from the office. The same room, the same chair – after all, we are creatures of habit – and the same view promotes the same way of thinking. A new venue changes all that.

There’s more camaraderie outside the office or a formal meeting venue. It’s not for nothing that team building exercises are held away from the office. By definition when I am meeting my TAB colleagues in Europe I am out of my own office, but the difference between having a meeting in a ‘hotel board room’ and a restaurant or bar – or simply when you are walking to a venue – is almost impossible to measure.

And there’s one final point, which struck me as I drove home from the airport. There’s an interesting parallel here with being a parent. If I want to have an in-depth conversation with Dan or Rory, the best solution is to go for a walk or for a drive. If we’re sitting facing each other, the barriers go up. I’m not saying there are barriers with my TAB colleagues – exactly the opposite – but it is still interesting how different thoughts, ideas and initiatives develop when you’re not face to face.

Which brings me full circle… There are a couple of people meeting in Brussels about now who don’t seem to see eye-to-eye. Perhaps they should go for a walk…

By Ed Reid, TAB UK

Read more of my blogs here:

Your Goals for 2019: But What if you Achieve Them?


It’s a safe bet that a significant proportion of the people reading this blog have a word document – or a note on their phone or a page in their journal – with a very simple, three word title.

Goals for 2019.

We’re all ambitious: setting goals and targets comes naturally to us. But this morning I want to ask a question that isn’t often asked: why do so many people feel a sense of anti-climax when they finally achieve their goals? Why – for some people – does achieving a long sought-after goal lead not to elation, but to the exact opposite?

Let me give you a very simple example. A large number of women are depressed after their marriage. Not because of who they married (looks up, glances across the kitchen table) but because of an inevitable sense of anti-climax and a feeling of ‘what now?’ According to a report in the Washington Post12% of women admitted to being ‘blue brides.’

Similarly there are any number of anecdotal tales from sport. The momentary elation of winning the gold medal, followed by ‘now what?’ – and quite possibly the realisation that suddenly you’re back at square one. That four years from now you’ll need to prove yourself again. And there’ll be younger, hungrier pretenders to your crown.

There is no reason to suppose that business is any different. Yes, we all have goals for next year and, for most of us, those goals are a staging post on the road to the eventual destination.

But the statistics dictate that someone reading this post will reach that destination next year. They’ll sell the business they’ve built or they’ll reach a turnover or profit level they once considered impossible.

If that’s you, will you go off into the sunset punching the air? Or will you feel a sense of anti-climax and ‘now what do I do?’

Rest assured that you will be a long way from the only person to be suffering from ‘post event blues’ or the ‘arrival fallacy.’ (No, The Arrival Fallacy isn’t a thriller by Robert Ludlum: the theory is that as you get near to your goal you start to anticipate it, and therefore to discount it.)

Personal Goals

OK, time to make it personal. TAB UK is my life’s work. One day someone else is going to be the MD of TAB UK and I have no idea how I’ll feel about that. It will – absolutely – be one of the moments when I would have sought out Paul Dickinson’s wise counsel.

I have shared this with many people, but let me share it with everyone. What’s my long term goal for TAB UK? My vision is to see us helping 1,000 business owners – and thereby benefiting around 25,000 employees and roughly 100,000 people in their families.

That is a really compelling vision for me and obviously my goals for the coming year represent steps along the way.

Would – at some stage – 900 members of TAB UK be a success? In financial terms, yes. Would it satisfy me psychologically? No, I don’t think so. Both Mags and I want to reach the 1,000 member goal – and, with the support of everyone in the TAB family, we’re determined to get there.

So will I feel ‘post-event blues’ or the ‘arrival fallacy’ when we reach 1,000 members? I don’t think so – but I have no way of telling. What I do know is that there will have to be something after that. It may not be to benefit me directly – but I think I will always need to have a goal in sight.

And that, of course, is the textbook way to beat the ‘post event blues:’ to make sure you immediately move on to something else.

I suspect, though, that human nature doesn’t work like that. It dictates that we do pause when we reach the summit, both literally and figuratively. And that is both right and understandable – you’ve worked to get there, you’re entitled to enjoy the view.

And if you find that the euphoria isn’t what you’ve expected then you won’t be alone. Success, as the old saying goes, is a journey as much as it’s a destination. And that’s what all of us at TAB UK are committed to – your success on the journey. You, and the other 999 business owners that are on the journey with you…

Read more of my blog here:

The Importance of Brand Perception in 2018

How do you Manage a Millennial?

The Seven Ages of The Entrepreneur

Be Brave


Last week I wrote a Tale of Four Leaders, contrasting Paul Dickinson and Barry Dodd with two leaders who I consider to be far less successful – the Donald and the Maybot.

I’m still coming to terms with Paul’s passing, but gradually the sadness is giving way to what I’ll think of as his personal legacy to me.

Many of you will know the words of the poem by Henry Scott Holland, so often read at funerals. It’s called Death is Nothing at All, and there is a line that is particularly apt: ‘Why should I be out of mind because I am out of sight?’

Paul will never be out of mind for me and – two weeks on from the funeral – I feel a duty to his memory to make TAB UK the best it can possibly be. That means for everyone in the TAB family: our members, our franchisees, our team at head office – and the colleagues we work with overseas.

How are we going to do that? We are going to be brave. What was it Thoreau said? ‘The mass of men lead lives of quiet desperation and go to their grave with the song still in them.”

No-one in the TAB UK family should do that and so – and I know Paul would have approved – the message this week is simple: Be Brave!

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This, more than ever, is a time for brave decisions, on both the micro and macro level. The world is changing at an ever faster pace: AI and machine learning, advanced search and the personalised internet are knocking on the door of virtually any business you can name. Businesses that were once cornerstones of the national and local economy are crumbling away. Brave decisions have become essential.

So let me turn to two decisions – sadly both from our government – which illustrate exactly the type of decisions we should not be making.

A couple of weeks ago Theresa May announced an extra £20bn – from your taxes – for the NHS. That’s a worthy decision: with four out of five people apparently in favour of tax rises to fund the NHS I’m sure the focus groups will approve.

It’s worthy, but in the long run I think it is wrong. And it’s the easy decision, not the brave decision.

Anyone who walks through any town centre will notice that the UK has an obesity epidemic which is getting worse every year. That in turn is leading to an explosion in Type 2 diabetes which is currently costing the NHS £25,000 a minute. Diabetes UK put the cost of treating Type 2 diabetes and its complications at £14bn a year.

Those are staggering figures for what is – in the main – a preventable disease. And quite clearly there isn’t much of the PM’s £20bn left when you’ve paid the diabetes bill: if we carry on getting fatter there very soon won’t be anything left.

The PM’s £20bn is, in essence, a very expensive bucket. There’s a hole in the roof of your factory, the water is coming in ever more quickly, so clearly what you need to fix the problem is a bigger, more expensive bucket…

Yes, that might be the answer while the guys go up on the roof to fix the hole. But as far as the diabetes epidemic is concerned, we’re not sending anyone up on the roof: we’re relying on an ever more expensive bucket instead of making difficult decisions and telling people the unpalatable truth.

Secondly, pot. Or weed, or whatever you might want to call it. Last week the case of Billy Caldwell and an article by William Hague brought cannabis front and centre in the news.

Writing in the Daily Telegraph Hague argued that the war on cannabis has been “irretrievably lost” and called for it to be fully legalised. He argued that cannabis is freely available in the UK, but available in unregulated forms, with a thriving black market bringing huge profits to criminal gangs and putting an unnecessary strain on the police and our criminal justice system.

Some time ago I wrote about the legalisation of cannabis in the US state of Colorado. The state – which I visit every year for TAB’s global conference – legalised  cannabis in 2012. Teenage use of the drug in the state is now at its lowest level for a decade, opioid deaths are down, crime has not risen – but tax revenues have, by an estimated $230m over two years. The population of Colorado is around 5.6m – that is around one-tenth of the UK, so it is easy to project the tax revenues that might result from legalisation here.

Sam Dumitriu, head of research at the Adam Smith Institute says, “We estimate that legalisation would raise at least £1bn a year for the Treasury.” He added, “Just as the prohibition of alcohol failed in the US, so the prohibition of cannabis has failed here.”

What is the UK government’s position? A flat refusal to even discuss the subject – a refusal, not to make a brave decision, but to even have a brave discussion.

In business, you cannot do that. It bears repeating: we are living in the age of brave decisions. The problem is, there’s no pain in buying the NHS a bigger bucket or refusing to discuss cannabis. The government – like so many businesses – is in a comfort zone.

But you know and I know that it cannot last. We cannot go on getting fatter, we cannot go on seeing young people murdered on the streets of London and we cannot ignore Google, Amazon and Uber when they tap on our door.

Throughout his life – and never more than towards the end of it – Paul Dickinson took brave decisions. That’s the legacy he left me: that’s the legacy that we all – in government or in business – need to follow.

Lance-Corporal Jones and the Robocalypse


You know me. Cutting edge info, state of the art tech, firmly focused on the future.

So let’s go back to 1841. And then take inspiration from Dad’s Army.

Go right back to 1841 and the first census showed that 20% of the UK’s population were engaged in agriculture, and another 20% were in domestic service.

Fast forward a few decades and millions of people were employed in the ‘horse economy.’ They made saddles, shod the horses, built the carriages and – yes – collected the dung.

Candlemakers had a healthy business as well.

But then Edison invented the long-lasting electric light bulb. Henry Ford brought us mass production of the motor car – and the sons of people who’d been employed in the horse economy became panel beaters, paint sprayers and mechanics.

Fast forward again. Right up to today. And if you work in retail, or you own a shop, then the news this week could not be worse. According to the British Retail Consortium (BRC), March and April saw an “unprecedented” decline in footfall – the number of people visiting the nations’ shops. Over the two months footfall was down by 4.8%.

The town centre vacancy rate – the number of empty shops – rose to 9.2% with every area of the UK (except Central London) reporting an increase. A spokesman for the BRC said, “Not since the depths of the recession in 2009 has footfall over March and April declined to such a degree. Even then the drop was less severe at 3.8%.”

Are we seeing the slow death of retail? Quite possibly.

Similarly – as I’ve written previously – artificial intelligence and financial technology (aided by blockchain) are going spell the slow death of the high street bank in a great many towns. “Working in a bank, sir,” will no longer be an acceptable answer to your careers master.

The doom-mongers are having a field day. “This time it really is different,” they say, as they welcome the Four Horsemen of the Robocalypse – Robotics, Artificial Intelligence, Unemployment and Bankruptcy.

And if you believe the worst forecasts, they’re right.

The darkest claims – from two American economists – suggest that 47% of all jobs could disappear. Using the same methodology the Organisation for Economic Co-operation and Development (OECD) puts the figure at closer to 10%.

That is still a massive figure – in round numbers there are 32m people employed in the UK. The social and economic consequences of 3.2m people becoming unemployed do not bear thinking about.

That’s assuming you believe in the ‘Lump of Labour.’ It’s Friday morning and you probably don’t want a large slice of economic theory, so I will deal with it in less than 50 words.

The theory in question is the ‘Lump of Labour’ theory: there is a finite amount of labour (the ‘lump’) that needs doing. If new machines are invented that do some of that labour, then jobs are necessarily lost.

That’s the theory. But as we have seen throughout history, new inventions and new technology create new jobs. Yes, the motor car did serious damage to the horse economy – but ultimately it created more jobs and more wealth than the horse economy could ever have done.

So yes, right now we may be seeing the slow death of retail and the high street banks – but what we are also seeing is simply change – as there has always been change.

And who adapts to change? Entrepreneurs: the people reading the blog this morning.

Changes in technology are going to wipe out jobs. But bright, innovative, hard-working people are going to use those changes to create new jobs. The banks may be going, but fintech (financial technology) will create 100,000 new jobs by the end of the next decade.

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Artificial intelligence ? Let me turn to one of the leading management thinkers of the last century. I refer, of course, to Lance-Corporal Jones from Dad’s Army. As the clips shows, he summed it up perfectly. Artificial intelligence will inevitably render some current jobs irrelevant: but it will open up a host of other avenues. I am certain that both my boys will – at some point in their careers – be working in jobs which simply don’t exist at the moment.

Change is undoubtedly happening at a faster pace than ever before, but change does not necessarily equal bad news. The old cliché about the Chinese character for ‘crisis/change’ being made up of ‘danger’ and ‘opportunity’ may not (sadly for business trainers up and down the land) be true, but the coming technological changes will offer a plethora of tremendous business opportunities.

And no-one is better placed to profit from that change and those opportunities than the members of TAB UK. All we ask is that the Government creates a climate that fosters innovation and enterprise, that rewards risk and long-term investment in your business. If we have that, then I have absolutely no doubt that TAB members will more than play their part in building the businesses of tomorrow, creating both jobs and wealth.

Darker Thoughts from an Old Friend


I bumped into an old friend in York last week. He was wearing a suit. And a tie. This was the man who became bored with dress-down Friday – and dress-down every other day of the week – when the rest of us were still learning not to wear a striped tie with a check shirt…

There was only one possible explanation.

“Congratulations,” I said. “You’ve finally made an honest woman of Claire. Where is she?”

He didn’t laugh. “Other end of the scale I’m afraid, Ed. Funeral. My second in two weeks. And both of them not much older than us.”

We’ve all been there: mentioned someone in conversation only to hear, ‘Hasn’t anyone told you? Last Thursday. No warning, nothing.” And inevitably the person being discussed was ‘not much older than us.’

That meeting with my friend played on my mind for the next few days. One thing I am sure of is that there is an ever-increasing level of stress in the average entrepreneur’s life. A few years ago people e-mailed or phoned. Now there is myriad of different ways of contacting someone: whatever you turn off, something else will bleep just as you sit down to dinner.

And we all know the dangers of stress.

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So that chance meeting with my friend stayed with me – not just because we’d been talking about someone close to our own age, but because the conversation posed a question that’s absolutely central to The Alternative Board.

You’ve started a business. You know what you want to achieve: you know what you’re capable of achieving. And you’re determined to get there.

So what do you do? How do you react when someone says, ‘haven’t you heard?’

Do you take it as a signal to run at 100mph in case the same thing happens to you and you never realise your potential?

Or do you stop and smell the roses? Pay attention to your work/life balance? Remind yourself that no-one’s last words have ever been, ‘I wish I’d spent more time at the office.’

The more I thought about it the more I realised I’d seen business owners – perhaps without even recognising it – struggling with the same dilemma. And not just as a one-off.

It’s a problem that raises it head, in different forms, at different stages of your entrepreneur’s journey.

What should I do? Put in the time? Re-invest the cash? And build a company that will really be worth something in 10 or 20 years’ time?

Or realise that I might not get there – and milk the business for all its worth and take my rewards in the here and now.

The answer, of course, is that there is no right answer. The right answer depends on your own individual personality and how you want to live your life. As everyone who knows me will recognise, I’m in the ‘building a business’ camp – and I’m determined to enjoy the journey along the way, sharing that journey with my family and my friends.

Yes, I could be in the office every minute of every day – but I remember waking up one Tuesday morning early in my TAB York days. It was a morning like today: early May and the sun was shining in through the window. I looked at the pile of paperwork on my desk and went off to play 9 holes of golf.

It was a moment when I suddenly appreciated the freedom the decision to start my own business had given me – and when I knew I’d made the right decision in Newport Pagnell service station.

Not every entrepreneur would have taken that decision: some would have ploughed through the paperwork. The important thing, I think, is to recognise what works for you – and what you want from your business.

Whatever choice you make – whether you take your rewards now or later – remember that the business is working for you. It is emphatically not the other way around.

Our Glass is Half Full


Well, we have a form of words. But as many commentators have already written, ‘Nothing is agreed until everything is agreed.’ No matter, the Brexit talks can stumble forward to the next hurdle…

Meanwhile Donald Trump has antagonised 95% of the world by recognising Jerusalem as Israel’s capital, Kim Jong-un is threatening to fire ICBMs on an almost daily basis, Germany doesn’t seem to have an effective government and China is threatening to take over the world. Oh, and the financial world will surely be rocked any day now when the Bitcoin bubble explodes.

Make plans for 2018? Only a madman would think of starting – or expanding – a business.

Welcome to the madhouse.

A recent report from accountants UHY Hacker Young revealed that more businesses were established in the UK last year than in any of the world’s other developed economies. Hacker Young put the number of new businesses at 218,000 – a 6% increase on 2015.

But across the road at the Institute of Directors they are three times as bullish, saying that 650,000 businesses were created last year. I suspect that Hacker Young are counting limited companies and the IoD are counting companies and those registering as self-employed. Whatever way you look at the stats and whatever measure you choose, it’s a remarkable statement of confidence in both the individual entrepreneur’s determination to succeed and the future of the UK.

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And yes, of course confidence comes naturally to an entrepreneur. What is remarkable – and heart-warming – is not just the number of start-ups but the absolute conviction that they will succeed. In the IoD survey 83% of those who replied said they felt optimistic about next year – whereas just 5% were optimistic about the wider UK economy.

Of course concerns remain – chief among them being lack of access to finance and lack of information about the government help available for start-ups and those looking to expand their businesses. Awareness of the British Business Bank, for example, was just 17%. Clearly the Government needs to do rather more to get its message across…

Closer to home, I see the same optimism around the TAB boardroom tables. Optimism, coupled with a steely determination to make it happen. Everyone acknowledges that the road is going to be bumpy – but everyone in the TAB family is determined that next year will be an outstanding success.

As for me, twelve months ago I was the owner of TAB York – and someone who was keeping very quiet about some very complicated negotiations. You all now know how they turned out: to say that 2017 has been an eventful year for me is one of the year’s great understatements!

However much I thought I knew what running TAB UK would be like the reality has been very different. Easier than TAB York? Harder? Neither: simply very different and very exciting – and I see more opportunities for us to grow with every passing day.

I’ve been especially struck by how much our TAB members up and down the UK want to be part of the wider TAB community and how keen they are to meet other TAB members, whether that’s from their own region, the wider UK or internationally.

The ten months since February have been a sharp learning curve for me and I couldn’t have climbed the curve without the support of my brilliant co-director Mags, the amazing team at the Harrogate head office or – as always – the love, support and encouragement of my team at home. I hope all of you know how much I appreciate you.

…Which brings me, misty eyed, to the change I was going to announce. I have been writing this blog every week since 2010. I have absolutely enjoyed it and if you’d told me in 2010 that I could have found something to write about every week for roughly 7½ years I’d have said you were mad. Proof positive that, one bite at a time, you can eat the elephant…

However, my new role as MD of TAB UK has afforded me a broader canvas than writing as owner of TAB York. I hope you’ve noticed the posts becoming slightly longer and taking a wider view of the economy and the future. Necessarily these longer posts take more writing, so from next year I’m going to move to updating the blog fortnightly, starting – after a good break for Xmas and New Year – on Friday January 12th. I’m also going to have more of a theme running through the blog: alternating posts between what you might loosely term an ‘overview’ of business and the economy, with a TAB view of the entrepreneur’s journey – from making the decision to go it alone to signing the final contract and walking into the sunset…

In the meantime have a wonderful Christmas and – on behalf of all of us here at TAB HQ – I hope that 2018 brings everything you would wish for.

Panto Season Comes Early


The scene: an Alternative Board meeting, anywhere in the UK. We’re going round the table, updating each other on progress. It’s Dave’s turn…

TAB franchisee          So, Dave, bring us up to date. How’s it going?

Dave                           Yeah, good. The MD’s coming over at the weekend and we should finally be able to sort it all out. Few wrinkles to iron out in Ireland but we’re getting there

TAB veteran               You said last time that your two divisions in Ireland couldn’t agree on anything…

Dave                           Well, technically, yes. But we’re getting there

TF                                So you’re all set to abandon your current deals and go it alone?

Dave                           Yep. That’s what the shareholders want

TabVet                        So what deals have you got lined up to replace them?

Dave                           Well, technically, none

2nd TabVet                 Sorry if I’m missing something here but isn’t that … well, just a touch risky?

Dave                           It’s what the shareholders want

TF                                OK, so what impact is this all going to have on the company?

Dave                           Huh?

TF                                About six months ago you said you were doing an impact analysis on the effect this would all have. On every division of the company

TabVet                        Yep, I remember that

2nd TabVet                  Me too. Remember asking if you thought you could get it done in time

TF                                So where is it?

Dave                           Well, technically…

TF                                It was so in depth that you haven’t finished it yet?

Dave                           Not quite

TabVet                        So when will it be ready?

Dave                           That’s a difficult one to answer

2nd TabVet                  Why

Dave                           We haven’t started it yet.

There is silence around the table. A pin drops…

TF                                So you’re telling us, with our experience in business, that you are planning a major, major overhaul of your business, abandoning trading relationships you’ve had for forty years, you have nothing ready to replace them – except hope – and you have done no analysis at all of the impact it might have on your company?

Dave                           Well, technically…

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The TAB blog is politically neutral. And whatever my personal views, I try to be strictly neutral on Brexit. The blog is not, however, common-sense neutral. And when I read the stories coming out of the Committee on Exiting the European Union (let’s just call it the Brexit Committee, shall we?) on Wednesday I was, bluntly, staggered.

Were the UK Government – in the shape of Dave – a member of any TAB board (and frankly, Mrs May, right now I think it would be money well spent) he would not have survived the meeting. I can think of no instance in my seven years with TAB UK in which a member has gone ahead with a radical overhaul of his business without doing some seriously in-depth analysis of the potential impact. If a member of TAB York had acted in that way I would have questioned whether I was any good at my job.

And yet, on Wednesday morning, David Davis sat down in front of the Brexit Select Committee and said that Her Majesty’s Government had done no significant work on the impact Brexit might have on major parts of the UK economy.

Translate that into business terms. If you had tasked your finance director with doing these impact assessments and six months later he came back and said he hadn’t started then there would only be one outcome. He’d be clearing his office the same day. Even if he hadn’t been tasked with doing the work – but hadn’t shown the initiative to do the assessments – the end result would be the same.

David Davis has argued that there is no point in preparing impact assessments because the scale of change will be so big. Again, if you translate that into business, it’s just nonsense. “We’re going to make major changes in the company – a complete change of direction. And because the changes are going to be so big we’ve decided not to bother making any plans.”

Yep, that would go down well with your TAB colleagues.

Enough lampooning politicians. Sadly, they’re an easy target. There must be a reason for the Government’s failure to carry out due diligence…

Theresa May – the MD in our example – famously campaigned for Remain in 2016. A few weeks later she was roundly declaring that ‘Brexit means Brexit.’ She had seen the shareholders get rid of the previous MD and give her the job – with a clear mandate to deliver something she’d very recently campaigned against.

This is the time of year when I traditionally write about planning for next year. And that’s where the lessons of Brexit apply. Because if you don’t absolutely believe in your plans, targets and goals – if they don’t reflect what you want both for the business and as an individual – then you’ll end up exactly where Theresa May and David Davis now find themselves. Trying to deliver a plan that you don’t believe in and, consequently, controlled by external events – when it should be the other way round.

That’s it for this week. Next week will be the last post of the year and I’ll be looking forward optimistically to 2018. And also announcing a change…

Three Ideas we Must get our Heads Round in 2018


It’s generally believed that the oldest board game that has been continuously played is Go, dating back to China more than 2,500 years ago. For those of you that haven’t played, the aim is to surround more territory than your opponent. The game is played on a 19 x19 grid and it’s far more complex than chess: the number of possible moves is put at 2 x 10170 – or, more simply, there are more potential moves in one game than there are atoms in the universe.

So quite a lot.

Anyway, last month Google-owned DeepMind introduced AlphaGo Zero, their latest evolution of a computer programme which defeated the Go World Champion earlier this year. You remember those possible moves? More than there were atoms in the universe? The programme mastered them all in less than 72 hours – with no human help.

The simple fact is that machines are going to surpass human intellect in any given intellectual task: right now, the AI community believes that 2060 is a reasonable estimate for its arrival – but not so long ago driverless cars weren’t going to be on our roads until 2040…

We all need to get our heads round Artificial Intelligence and we need to do it quickly. Worryingly US Treasury Secretary Steve Mnuchin says he isn’t worried about AI and automation: it’s so far away apparently, “that it’s not even on my radar screen.” Presumably he’s not yet read McKinsey’s report saying that robots will take 800m jobs worldwide by 2030…

Meanwhile Home Secretary Amber Rudd cheerfully stands up at the Conservative Conference and admits she doesn’t really know how encryption works.

Well no – we don’t need our Home Secretary to pop back to her bedroom after a Cabinet meeting and do a bit of coding. But it would be useful if our political leaders had a vague idea of what’s coming down the track. Google, Apple, Amazon and Facebook most certainly do know what’s coming – and it is going to impact your business.

Let me give you a simple example. I don’t know how many possible ‘moves’ there are in deciding whether to lend you or me £250,000 to buy a new house or build that new factory. I do know that it is significantly less than the number of atoms in the universe. I’m acutely aware that sooner rather than later I’m going to need to offer Dan and Rory some careers advice: bank manager may not be top of the list.

Now a rather more basic idea that far too many people still need to tackle: like AI it needs to be on your to-do list at the start of 2018 and crossed off it by the end of the year. The very basic idea is equal pay.

I was reading a salary comparison produced by a TAB member: very clearly, women in North Yorkshire – even in senior roles in the professions – are paid less than men. One line in the report leapt out at me. In comparison to men, women effectively work for nothing from November 7th onwards.

Just say the following out loud. “I’m sorry, you’re bald, we’re going to pay you 80% of what we pay people with hair.” Or try this: “Yes, well, obviously it would have been £3,000 a year more but you’ve got ginger hair…”

…And if you still have a problem with equal pay, go and sort it out now. Equal pay is ethical, it makes business sense and – bluntly – it is just the right thing to do.

And the last idea? Disruption. Henry Ford disrupted horses, Uber disrupted taxis and – as above – AI and ‘fintech’ are going to painfully and permanently disrupt traditional banking. Oh, and the nice, cosy world inhabited by Gillette and Wilkinson Sword and impossibly good-looking men with impossibly smooth chiselled jaws? I’m very sorry, but the Dollar Shave Club is coming to the UK.

Whatever industry you are in – and not for one minute do I exempt peer-to-peer coaching from the list – it is going to be disrupted. We need to be the disruptors, not the disrupted. At the very least, we need to be thinking a long way outside the box, so that we’re prepared when the Dollar Shave Club – or its equivalent – appears on our horizon.