Time to go into Reverse


Mentor: noun – an experienced and trusted adviser. Someone who gives an inexperienced or younger person help and advice over a period of time.

And, of course, we’re all familiar with the most famous mentor of them all…

But now the phrase on everyone’s lips is ‘reverse mentoring’ – because it’s not just young people that need training in the office.

What is reverse mentoring? To turn the dictionary definition around it is when an inexperienced or younger person gives an older, more experienced colleague help and advice. Why? One word: Snapchat. Another word: Instagram.

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As social media – and other developments such as gamification and virtual reality – come to play an increasingly important part in both the workplace and the customer journey, so Mr Older-Experienced can be left feeling, well… helpless.

But why do you need training in the office? Why not just ask your teenage children? If you’re asking that question I can only assume you don’t have teenage children. You cannot ask your teenage children. Sadly, I’m becoming all too familiar with their response. The long, drawn-out sigh. The raised eyes, the pained expression. ‘Oh God, I’ve got to explain it to the old person again…’

Back in the office there are some very successful advocates for reverse mentoring. Former Burberry CEO Angela Ahrendts credits it with helping her turn the company around and grow the brand value from $3bn to $11bn. John Lydon, MD of McKinsey Australia said that his tech-capability had increased tenfold – and he was able to understand the minds of a younger generation, and the emerging trends that came with them.

Why does reverse mentoring work? Because human nature all too often dictates that we spend too much time talking to people like us. People who are roughly the same age, from the same background and have the same views. Speaking to someone who’s younger than you, from a different background and significantly lower down the organisation chart can help you see the business from a new angle. In large companies it’s also a good way to identify future leaders: not just how much does someone know, but how good are they at communicating, and making the complex easy to understand.

The other great plus of reverse mentoring is that it creates a culture where everyone in the company is constantly learning – something you emphatically need to do today.

Depending on which projection you read, by the middle of the next decade millennials (people who entered the workforce around the turn of the century) will comprise up to 75% of employees. And yet most MDs and CEOs will still be significantly older.

So we’ll be hearing a lot more about reverse mentoring. I think it’s a great idea: looking back over my days in the corporate world, I can remember plenty of times when it would have helped me, my boss and – in the long term – the company. But I worry that too many organisations will introduce a reverse mentoring programme and simply pay it lip service – ‘this is the latest big thing apparently. I suppose we’d better give it a go’ – while carrying on doing what they’ve always done. And as I have said many times, if you always do what you have always done, these days you will no longer get what you have always got.

In many ways reverse mentoring has been part and parcel of TAB since I joined – even if we didn’t use the exact term. When I was running TAB York I always wanted my Boards to have a mix of ages and backgrounds – and it’s something I now encourage the franchisees in the UK to do. When someone brings a problem, challenge or opportunity to a monthly meeting it is absolutely invaluable for them to see it from different angles and different perspectives. ‘A problem shared is a problem halved’ as the old saying goes: a problem seen from seven different viewpoints is very often a problem solved.

With that, I’m going to leave you for a fortnight. Next week I’m on holiday and the week after I’m joining TAB colleagues from around the world in Denver. But first, a holiday with Dav and the boys: hopefully without the sighs and the pained expressions…

Time for your Annual Service


Well, after last week’s slice of humble pie I’m not even going to mention the cricket this week. I don’t even have it on as I’m writing. Oh, for goodness sake. Pushing forward to one he should have left. That’s a fine start…

Remote found, TV turned off and focused on my Mac, let me turn my attention to something I briefly touched on two weeks ago when I was discussing productivity. According to this story in City AM: ‘Half of the UK’s small business leaders are taking fewer than six days off work each year.’

The research quoted suggested that 52% of entrepreneurs took five or fewer days off last year, with one-in-five taking no time off at all. Of those that do make it to the departure lounge, 1 in 4 admit to answering e-mails and taking calls while they’re away, and more than a third take outstanding work with them to finish.

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Interestingly, the research also showed that the vast majority of the bosses wanted their staff to take their full allocation of time off – recognising the value of time away from the office and paying real attention to your work/life balance.

So why don’t they practice what they preach?

Let’s exercise a little caution before I move into ‘full rant’ mode. It was a survey and I think we can safely assume that there was some ‘no-one works harder than me’ posturing going on. How many hours day do you work? Pah! Never less than 16. How many days a week are you in the office? Easily eight: nine some weeks… Where are the Four Yorkshiremen when you need them?

But even allowing for that natural exaggeration the results are worrying – and it appears from another study that entrepreneurs are now working longer hours than in previous years. So much for the work/life balance message…

Anyone who has read this blog on even an occasional basis will know that I think working longer and longer hours and not taking holidays is madness. Never mind your business, you’re cheating your family. Hopefully we’ll all be at the top of the mountain one day – but you need someone with you to share the view.

More than anyone, entrepreneurs need to take breaks. I have written many times that to think differently you need to be somewhere different. There’s nothing more dangerous these days than ‘doing what we’ve always done’ but if you sit at your desk every day you’ll do exactly that.

Get away, do something different, and you’ll find you’re thinking differently as well. I’ve lost count of the number of problems I’ve solved/insights I’ve had on holiday, simply because I’ve been thinking in a different way.

And as we’ve always said, if the business doesn’t function without you, you don’t have a business. The only way you’ll find that out is to leave them to it. And if you insist on staying in the office every day then all you’ll ultimately do is bring forward the day when they have to function without you – while you’re stressing about the mobile signal in the cardiac unit…

Holidays also give you a chance to let go of your ego for a while – especially if you take your children. And if they’re the age Dan and Rory are then I’ve no choice other than to let go of my ego. Whenever we try anything new I simply have to accept that they’re going to pick it up more quickly/be better than me/not have the aches and pains the day after. Or all three…

I suspect that a large proportion of those entrepreneurs who never go on holiday would all give the same reason: ‘I don’t have the time.’ No, you don’t. There’s never a good time for a holiday. There’ll always be a new idea, a new client – or a crisis. But if you’re not at your peak – and without a break you won’t be – then you can’t be at your best for the client or able to deal with the crisis.

After all, you service your plant and machinery every year: you do the same with your car. Isn’t it time the company’s most important asset received the same care and attention…

The Workplace Taboo


It’s been a busy week for me: Tuesday brought our annual event for TAB members – always a highlight for me – and on Wednesday I was at York races. Just remind me again: when it rains at York it’s low numbers in the draw isn’t it? Or is it high?

By the time I’d worked it out the damage had been done…

But I was in great company and – despite the rain – it was a thoroughly enjoyable day. So having been outside in the rain yesterday this morning I’m obviously at my desk as the May sun shines steadily in through the window.

…Which seems entirely inappropriate as this week I’m going to write about mental health and depression, something which a significant number of people are understandably – but regrettably – unwilling to talk about at work.

First, some stats:

  • In 2015/16 30.4m working days were lost due to self-reported work related injury or illness: only 4.5m of these were due to a workplace injury
  • On average injuries saw people take 7.2 days of work: ill health meant 20 days off work
  • Stress, depression and anxiety – plus musculoskeletal disorders – accounted for the majority of the days lost: 11.7m and 8.8m days respectively
  • The average number of days off for stress, depression or anxiety was 24: for musculoskeletal problems it was 16 days

I think those numbers are significant: 24 days for stress, depression and anxiety – that’s effectively five weeks off. To a small business a key employee having five weeks off can have a catastrophic effect. You can’t recruit someone: if you get someone on a short term contract it’s five weeks before they’re fully up to speed. It is simply a hole punched below the waterline for five weeks.

Two weeks ago it was mental health awareness week: worryingly, a recent survey for BBC 5 Live found that half of us would still be reluctant to speak up at work if we had – or thought we were heading for – a mental health problem. 49% of those surveyed said they would feel unable to tell their boss about problems such as anxiety or depression. Even fewer – just one person in three – said they’d be happy to tell colleagues.

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As someone running a business you want to hire and retain the best people – but you need those people to be working efficiently and effectively. You also want them to be happy and healthy: as I’ve written before, health, fitness and performing well at work go hand in hand. More and more businesses will introduce ‘wellness’ programmes for their employees, covering everything from flexible working to help with emotional and psychological problems: if you’re not looking at it already, now would be a good time to start.

So much for the team: what about you?

Being an entrepreneur is a lonely business: it is also stressful and the feeling that the buck – and everyone’s livelihood – stops at your desk can be all too real.

It can also be a macho business: many people – men and women – constantly feel the need to act the part. In some ways I can understand that: confidence can be a currency, especially if you have outside investors to deal with. No round of financing is going to be helped by, ‘I’m depressed’ or ‘I’m having doubts.’

But we’re not always ‘crushing it’ – as my Fitbit constantly demands. Statistically the odds are stacked against any new business and virtually every entrepreneur will have occasional moments of doubt. There’s a theory that entrepreneurs are more prone to depression: a personality that will accept extreme risk and reward at one end of the scale also has its darker moment at the other end of the scale.

That, I am absolutely certain, is one of the very best parts of TAB. To paraphrase the old saying, when the going gets tough, the tough need someone to talk to. As I have written many times, no-one understands like your colleagues round the TAB table: not your wife, not your partner, not your parents, not your friends. The only people who truly understand the pressures are other entrepreneurs.

…And in The Alternative Board they don’t judge, they don’t compare, they don’t score points. In every instance they simply say, “Yep, I’ve been there. What can I do to help?”

In Praise of Praise


I’ve written previously about Millennials, Baby Boomers and all the other generational labels that we pretend we know. So far, though, I’ve neglected the ‘Snowflake Generation.’

‘Snowflake,’ for those of you that don’t know, is a less-than-complimentary term applied to the young adults of the 2010s: it probably comes from the 1999 film Fight Club and its famous line: ‘We are not special. We are not beautiful and unique snowflakes.’

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It’s now come to be applied to a generation that supposedly were told they were special; children that were given an over-inflated sense of their own worth and – as a consequence – are now far too easily offended.

But now these easily-offended snowflakes are entering the workplace. So what are we as employers and business owners going to do when these ‘snowflakes’ increasingly make up the workforce? Are we going to have to constantly shower them with praise, irrespective of how well they’re performing?

Maybe the question is academic though – because far too many bosses and managers seem to have a problem with giving their teams any praise.

Why is that? Any number of research studies show that praise and positive recognition in the workplace can be hugely motivating – and not just for the person on the receiving end of it. Employee of the Month is too easily dismissed as a cliché: that’s wrong, it works.

We don’t really need a research study, do we? Our own commons sense tells us that praise works. Your wife only has to say, “Oh, darling, that was wonderful…” And you’ll be far more likely to make her another slice of toast.

One of the worst things a manager can do is reward hard work and achievement with silence. Yet only one in four American workers are confident that if they do good work they’ll be praised for it. Far too often the culture seems to be, “No news is good news” or – as they say in Germany – “Nicht gescholten ist lob genug.” (No scolding is praise enough.)

But we all know that’s nonsense. So why do people struggle to give praise? Maybe it starts with a false belief that really good managers are the tough ones who don’t hold back when it comes to telling people what’s wrong. Maybe some managers believe that giving praise will encourage staff to take it easy and rest on their laurels. Some might be consciously or unconsciously copying their own previous bosses: some managers might even see giving praise as a sign of weakness.

Whatever the reason the number of managers who don’t give any positive feedback is frighteningly high – 37% according to a recent survey in the Harvard Business Review. And you can probably add a few percentage points more: there is plenty of anecdotal evidence that what a manager sees as ‘straightforward, honest feedback’ is all too often perceived as criticism.

I think that’s a tragedy. There’s no better way to motivate people than by giving praise and it always works. There cannot be a more effective phrase in a manager’s vocabulary than, “You did a great job. Thank you.”

Not for the first time, I’m struck by the parallel between managing a team and being a parent. I’ve always tried to be honest with my boys: if they’ve done brilliantly, I’ll shower them with praise. If they could have done better, I’ll try to tactfully point it out – and suggest a way they could improve. I’ve never been a believer in praising everything they do – otherwise praise becomes meaningless – and the same is true in the workplace. But if someone has done a great job, tell them.

It will be the best investment of time and no money you ever make.

And now I must turn my attention to my own beautiful, unique snowflakes. If you can call someone who thinks his bedroom floor should be covered in underpants and needs a three course meal two hours before a three course meal a ‘snowflake…’

Agile Leadership? Or Fundamental Truth?


Agileadjective: able to move quickly and easily. Or, increasingly, relating to software development: relating to or denoting a method of project management characterised by the division of tasks into short phases of work and frequent reassessment and adaptation of plans

And – even more increasingly – the new buzzword in management thinking. We’re now supposed to be agile leaders and agile managers. Our companies need to have an agile culture and, of course, the work is done by our agile teams.

But is ‘agile’ really a new way of thinking? Or is it simply the latest spin on what have always been the best business practices? The Emperor’s latest new clothes – and maybe I’ve seen them all before…

The more time I spend working with business owners and entrepreneurs, the more I’m convinced that – to borrow a line from a classic – the fundamental things will always apply. Hire good people: don’t hire for the sake of hiring. Give them responsibility and remember that your job is to lead. As Stephen Covey said, “keep the main thing the main thing” and – as this blog constantly repeats – never stop learning. If you don’t grow, your business cannot grow.

Unquestionably business is moving at an ever faster pace. It used to be only companies like Dropbox that boasted of employing staff all over the world: I forget the exact quote but it was something like ‘thirty staff in ten different countries in 12 different time zones.’ But now I notice an increasing number of local entrepreneurs working with suppliers and contractors in different countries, knowing exactly what time it is in the Philippines and as happy to price in dollars as in pounds.

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Is this ‘agile?’ No, it’s change. As an entrepreneur said during one of this week’s inevitable discussions on Brexit, “We’ll do what business has always done: we’ll adapt.”

What about the ‘agile culture’ we’re all supposed to use in our offices as we build our ‘agile teams?’ I saw it suggested recently that we should use an agile culture ‘to foster a healthy and positive working environment that takes advantage of the talent within.’

“No surprise there, Sherlock” as the PG version of Dr. Watson would have said. No entrepreneur succeeds alone – and if you don’t foster a positive working environment and take advantage of everyone’s talents, you’ve no chance. In the seven years since this blog started I have lost count of the number of times I’ve preached the benefits of trusting people and giving them responsibility. You should never be the only person in your company with the ability to say ‘yes’ to a new idea. That’s not ‘agile,’ it’s simply the best way to build a business.

…As is constantly being aware of the way your market – and new markets – are developing. “Agile leaders constantly see their business as a start-up” was another quote I read. If you started in a railway arch and you’re now employing 100 people and turning over £25m I suspect it’s quite hard to still see yourself as a start-up. But every entrepreneur I know who has built to that level is as open-minded and outward looking as any fresh-faced start-up.

My big fear with ‘agile’ is that we’ll all feel we should work at a faster and faster pace: that if we’re not Skyping Chicago at 9pm or instant messaging Manila at 5am we’re failing as entrepreneurs. I remember, nearly 20 years ago, reading an article about Gerry Robinson when he was building Granada – and famously, going home to his wife and children at 5pm. His philosophy was simple: if he couldn’t achieve it between 9am and 5pm, he was unlikely to achieve it between 6am and 8pm.

Trends, theories, buzzwords – and lucrative book deals – will continue to come and go in the realms of management and business but, whatever they’re called, the basics will never change.

…And a little over a month into my new role with The Alternative Board, I’m delighted to see those basic beliefs, practices and values running through every TAB franchisee and every TAB member that I’ve met. Yes, of course the next two years are going to throw up difficulties – some that none of us have yet contemplated – but there will be opportunities as well. And I know every TAB franchisee and member will do what businesses have always done – adapt, and meet the challenge.

The Budget: the Shape of Things to Come?


But there’s also a problem: namely, where is the value you’re taxing actually created? If Apple builds an iPhone in Taiwan, using raw materials from Australia and advanced components from Brazil, to a design thought up in California (but partially in Oregon), then markets it in the UK, via a company based in Ireland, where is the value created?

(This is without even getting into the licensing and buying-back of intellectual property rights, or any number of other accounting dodges.)

That very pertinent question is from an article in Cap X that I read last week. More of it later: first, last week’s Budget.

Philip Hammond bounced confidently to his feet and delivered his first (and last – it’s moving to the autumn) Spring Budget speech. There was good news on the economy: growth forecasts were up, borrowing was down and the Government’s “plan was working.” He delivered some far better jokes than George Osborne and sat down to a loud chorus of approval from the Conservative backbenches. He may even have glanced sideways at Theresa May and concluded that in the event of the mythical fall-under-the-bus, Mrs Hammond would be odds-on to be measuring up for new curtains in 10 Downing Street.

He could look forward to a nightcap, a good night’s sleep and plenty of plaudits in the following day’s papers…

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Sadly not. Thursday morning’s newspapers were united in their condemnation.

‘Hammond breaks election pledges,’ said the Telegraph. ‘Hammond raids the self-employed to fund care,’ declared the i newspaper. The tabloids were significantly more direct: ‘Spite van man’ screamed the Sun. ‘Rob the Builder’ was the headline splashed across the Star.

Hammond’s crime? He had allocated money to fund social care – £2bn over the next three years – and one of the ways he planned to fund it was by raising the Class 4 National Insurance contributions paid by the 15% of the UK workforce who are self-employed.

By Friday morning more than 100 Conservative MPs were supposedly voicing their discontent, with Anne-Marie Trevelyan, the MP for Berwick-upon-Tweed, saying “it goes against every principle of Conservative understanding of business.” The Chancellor was roundly criticised for riding roughshod over David Cameron’s ‘5 year tax lock’ and the Conservative manifesto.

There’s no doubt that, politically, Hammond made a mistake. Wittingly or unwittingly he’s given the impression that the Government doesn’t like or trust the self-employed and those running small businesses. As the Spectator said, it seems ‘that he suspects them of being tax-dodgers, of using the NHS without paying for it.’

He may even have given an unintended boost to the black economy. If the legendary ‘white van man’ suspects he’s being taxed unfairly he might decide to do even more work for cash – and the Chancellor might end up with lower tax receipts, and very expensive egg on his face.

But let me say a word in defence of the Chancellor – and here we return to the quote from the Cap X article. In his speech Philip Hammond talked about “the challenges in globalisation, shifts in demographics and the emergence of new technologies.”

He’s right – the economic landscape is changing rapidly. More and more people are becoming self-employed or trading through limited companies: people are changing jobs far more frequently, and all too often they need to have two jobs, often combining employment and self-employment. As Cap X put it, a 20th Century tax system is failing to cope with a 21st Century labour market.

And it’s not just the labour market: look at retailing, where online, out-of-town, low tax distribution centres are wiping out the bricks-and-mortar, high street, highly taxed shops.

Right now the tax system is divorced from the way business operates. There will have to be changes over the coming years and it is simply another illustration of the point I’ve made continuously in this blog: business is changing, and the pace of change is accelerating.

In a future post I’m going to look at the growing trend towards ‘agile’ leadership and management. What the Budget – and its fall out – illustrates is that in the future we will all need to be increasingly agile as we face ever-faster change.

But for next week we might just be due something a little lighter: why Ikea bookcases are a vital economic indicator…

…And there, gentle reader, are the perils of including current events in your blog. I wrote this post on Tuesday evening and, as you’ll all know by now, The Chancellor performed a humiliating U-turn on Wednesday and the NIC increases have now been scrapped. (You can forget measuring up for curtains, Mrs H…) I was initially tempted to re-write this post but, on reflection, I think the U-turn illustrates my point even more forcibly: today’s tax system simply has to change to cope with today’s economy. Maybe Wednesday’s climb-down will bring those changes closer – but let’s hope that whichever Chancellor finally has the courage to undertake a wide-ranging review pays more attention to detail than the Rt. Hon member for Runnymede and Weybridge did last week…

The Skills we Can’t Measure


Before I plunge into this week’s post, let me just take a moment to say ‘thank you’ for all the e-mails, text messages and calls over the last fortnight. Taking over TAB UK is a huge honour, privilege and challenge – but I couldn’t be setting out on the journey with any greater goodwill. So thank you all.

Back to the blog: and who remembers Moneyball?

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The old ways of recruitment in baseball were jettisoned. In came Billy Beane, his stats guru and a transformation in the fortunes of the Oakland Athletics.

The central premise of ‘Moneyball’ was simple: that the collective wisdom of baseball insiders – managers, coaches and scouts – was almost always subjective and was frequently flawed. But the key statistics for baseball – stolen bases, runs, batting averages – could be measured, were accurate and – used properly – could go a very long way to building a winning team.

Well, it worked for the Oakland A’s. As Billy Beane memorably says at the beginning of the film, ‘There’s rich teams, there’s poor teams, there’s fifty feet of $%&! and then there’s us.’ The ‘Moneyball’ approach changed all that, with the film chronicling their hugely successful 2002 season.

Small wonder that business has followed the ‘Moneyball’ approach for generations. “What we can measure we can manage” as my first sales manager incessantly chanted, drumming into me that I needed to make “Specific, measurable” goals.

And he was right. Business has to measure results: goals must be specific and measurable and, as anyone who reads this blog on a regular basis will know, I believe there’s only one long term result if you don’t keep a close watch on your Key Performance Indicators.

But does that tell the full story?

Of course we have to keep track of the numbers: of course salesmen must be able to sell, coders must be able to code and engineers must be able to do the basic maths that means the bridge doesn’t fall down.

But none of those things happen in isolation: all of us in business are part of a team. We have to work with other people and – if our job is to lead the team – we have to get the best out of the people we work with.

And for that we need a set of skills that can’t be measured. I’ve written before about the World Economic Forum and their document on the key workplace skills that we’ll all need by the year 2020. Their top ten list includes creativity, people management, co-ordinating with others, emotional intelligence and cognitive flexibility.

Last time I checked, none of those could really be measured objectively.

So are we swinging back to the pre-Moneyball approach? To a time when ‘gut-feeling’ held sway.

No, we’re not. But I do believe we are in an era where what we’ve traditionally called ‘soft skills’ are at least as valuable as ‘hard,’ functional skills.

This has implications for those of us running businesses – and it especially has implications for the training programmes we introduce. In the years ahead, we’ll still need to train our salesmen and our coders, but we’ll need to give them skills that go well beyond selling and coding.

There are implications for hiring and firing as well: they can no longer be based purely on numbers. And yes, I appreciate that the second one is going to cause problems. As a TAB member said to me last month, “I can fire someone for under-performance, I can fire them for stealing from me. But try and fire them because they bring the whole team down with their negative attitude and I’m heading straight for an employment tribunal.”

We’ve all been there: been in a meeting where someone’s glass is determinedly half-empty and they’re equally determined that it will remain like that. There’s a collective sigh of relief when they go on holiday. You can’t let one person bring the team down: it’s up to us as leaders to use our soft skills to make sure that doesn’t happen.

It’s also up to us to make sure that everyone in the team has the chance to develop their own soft skills. Whether it’s negotiation, creativity, co-operation or flexibility – those are the skills our businesses are going to need over the coming years: those are the skills that will help us turn our visions into reality.

Work/Life Balance: It’s Not Just You…


Let me introduce Helena Morrissey, non-executive chair of Newton Investment Managers and campaigner for greater gender diversity in the boardroom. Oh, and mother of nine children…

Someone sent me the link. ‘What does this say about work/life balance, Ed?’ she wittily added.

I won’t tell you what I thought. Nine children and a city career? Despite the fact that husband Richard is a full-time, stay-at-home Dad, Helena Morrissey still describes herself as “chief laundry lady, story-reader, times-table-tester, cake-maker, present-buyer, holiday and party organiser.”

That’s an impressive list by anyone’s standards – although I’m obviously disappointed to see she’s not coaching rugby as well…

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Work/life balance – the underlying and perennial theme of this blog – was much in the news over the festive period and, with due deference to Ms Morrissey, the stories largely focused on men. In particular the BBC featured this article – with nearly half of working fathers saying they’d like a less stressful job if it meant more time caring for their children. Even more significantly, a third of working fathers would be prepared to take a pay cut in return for more time with their children.

We’re entrepreneurs: we choose to do what we do. But that doesn’t mean it isn’t stressful and – as I wrote last week – the problems and uncertainties the entrepreneur faces every day would overwhelm the vast majority of managers.

Why do we do what we do? I’d say that for most of us there are two principal reasons:

  • Providing the very best we can for our families
  • And providing for our own drive and ego: we have to do what we know we’re capable of doing: we don’t ever want to look back and think ‘if only’

But balancing those two aims is one of the hardest jobs you’ll ever do. ‘Providing the very best’ doesn’t just mean material things, it also means time. Quality time doesn’t have to mean the zoo, the swimming pool or a football match: one of the most important lessons I ever learned was that to a small child quality time with Dad is just time with Dad.

“I missed my children growing up” is one of the saddest sentences in the English language and it’s one that too many men are still saying. It’s emphatically not something I ever want to hear around a TAB table.

But as employers, ‘work/life balance’ runs deeper for us. Because we have a duty not only to ourselves, but to members of our team as well. Running your own business brings tremendous pressures – but it also brings control over your own diary. When you’re employed and your boss says, “You need to be in Aberdeen next Thursday,” then you’ll be in Aberdeen, whether it’s sports day or the nativity play. If you run the company, you do at least have the option of thinking, ‘When do I want to be in Aberdeen?’

Not everyone wants to start their own business: but everyone wants to spend time with the children. Entrepreneurs need to be aware of that – and realise that their businesses will benefit as result.

There are now any number of studies showing the benefits of flexible working, for both the employer and the employee: put simply, people who work flexibly are happier and more productive. As technology advances – ‘Alexa, run through the cash flow figures will you?’ – flexible and remote working is going to be on a par with working in the office. Embrace it. Recent results from a Vodafone survey – with 8,000 global employers – saw 83% of respondents say that flexible working had boosted productivity, with SMEs the main beneficiaries.

As businesses fight to recruit and retain key staff, flexible working is going to become as important as someone’s pay packet – and it offers everyone running a business a tremendous opportunity. You can help your team with their work/life balance, improve the quality of their life – and boost your bottom line at the same time.

Five Days Good, Four Days Better


I’ve written about the length of your working week two or three times this year. Specifically, I’ve discussed the difference keeping Monday mornings free has made to my effectiveness and my weekends – and the simple fact that ‘throwing hours at it’ is never the answer. Once you go over 50 hours a week the evidence is very clear: you become less, not more, effective.

I’m not alone with my ‘Monday mornings’ – or Fridays as they are for several Board members.

So I was intrigued when I came across this article in Cap X: ‘Why a four day week isn’t good for your health.’

The article is by Allard Dembe, Professor of Public Health at Ohio State University. The four day week is the Holy Grail he says: it gives more leisure time and family time – and significant cost savings for business.

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He points out that many big companies have tried the four day – or ‘compressed’ – week. It’s not just Amazon and Google, Professor. Plenty of businesses I work with in North Yorkshire encourage flexible working, recognising that they’re in the results business, not the hours business.

In his article Dembe concedes some of the advantages of the four day week: but ultimately maintains that the evidence suggests it isn’t good, either for employees or for companies.

He states – rightly – that the same amount of work needs to be done. In simple terms, five days of eight hours translate to four days of 10 hours. And it’s the extra two hours – tacked on at the beginning or end of the day – that draw his fire. “All hours,” he says, “are not created equal,” citing studies showing that longer working days can contribute to ill-health later in life. And he questions whether a ten hour day is worth it if it means losing time with your children for four days of the week.

And as you’d expect from a professor of public health, he also points out that workplace accidents happen when we’re tired.

I’m not going to put Professor Dembe’s article in the same category as Liam Fox’s assertion that we’re all ‘fat, lazy and off to play golf’ – a claim I note he didn’t make at the Conservative conference – but I do fundamentally disagree with it, especially for the entrepreneur.

He makes some valid points, but there’s a simple fact: flexible working is here to stay. The challenge for anyone running a business is to find working arrangements that work for all the members of your team. You have to do that: the top talent that you want – and need – is increasingly demanding flexible working.

But even more importantly, I think flexible working is essential for you: for the entrepreneur.

Yes, we carry our phone and our iPads and we access Dropbox. And yes, that means work is never more than a couple of taps or clicks away. But it also means we have far greater flexibility – that we can both work when it suits us and work around family commitments and our work/life balance.

Earlier this year I mentioned the tendency to think in the same way if you’re in the same place. It’s almost impossible to think strategically about your business if you’re at your desk, ensnared in what Stephen Covey described as “the thick of thin things.” That’s why I’m an absolute advocate of spending working time away from your desk, be that Friday, Monday morning or whenever best suits you.

Working at home – or in the coffee shop – gives you space to think and to emphatically work ‘on’ the business not ‘in’ the business.

As the Scottish poet said, “’Tis distance lends enchantment to the view.” As the English business coach says, “’Tis distance lends perspective to the business.”

And that perspective is one of the most crucial factors in making your business a success. So don’t be afraid to work from home one day a week or to shorten your working week: in the long run it can only benefit you and your business.

Should We Worry about Germany?


No, I haven’t travelled back to the 1930s. Or to extra time in 1966

But in this era of increasing globalisation – and especially in the aftermath of the Brexit vote – ‘should we worry about Germany’ is a valid question. Specifically, should companies in North Yorkshire worry about European competitors poaching their top talent?

There was an interesting – and disturbing – article on the BBC business pages earlier this month. The gist of it, drawing extensively on quotes from the fund manager Neil Woodford, was that the UK is “appallingly bad” at funding tech start-ups. Small companies aren’t receiving the funding they need to grow: “We’ve been appallingly bad at giving these minnows the long-term capital they need,” said Woodford.

So if start-ups can’t get the funding and support they need in the UK, where will they go? And will talented young people become disillusioned and be tempted abroad?

There’s been no shortage of articles recently championing Germany – and Berlin in particular – as the likely new ‘start-up capital of Europe.’ ‘Berlin to usurp London’ as Geektime put it. No doubt about it: the coming years are going to be exciting for my TAB colleagues in Berlin: ‘Guten Morgen’ to Frank, Thomas and Ralf.

But it’s not just Berlin: the website EU-startups lists the top 15 start-up hubs in Europe: the UK has just one on the list and – post-Brexit – the situation won’t improve.

The anecdotal evidence is there as well: every friend I have with older, university educated children says the same thing. The children all voted Remain, and they all see their future in the UK as a part of Europe, not in the UK as an isolated country. “Two days after the vote he came home for the weekend and told me he wanted to live in Berlin,” as one person lamented to me.

So could the UK – and more pertinently could you – start to lose top talent to Europe?

german-chancellor-and-chairwoman-of-the-german-christian-democrats-angela-merkel-getty-640x480

It’s not a danger we should under-estimate. Taking Berlin as an example, the arguments in favour of moving are well-rehearsed: the cost of renting around half what it is in London and a pool of talent from all over Europe. And Germany is by any standards a remarkably successful economy – a trade surplus of €20bn or thereabouts month after month after month. Some parts of the Eurozone may be struggling but the German ‘engine’ keeps on running.

And they’re enterprising: soon after the Brexit vote many of London’s start-up technology companies began receiving letters from Berlin. A promotional bus from Berlin drove round the streets of Shoreditch. As Berlin senator Cornelia Yzer put it: “We’re a vibrant city, we attract talent from all over the world. Maybe it’s the right location for a London based company … to make sure they’re part of the EU in future.”

London today, York tomorrow? After all, if you’re going to be part of ‘Generation Rent’ you might as well be paying a lot less rent…

I don’t think so.

York remains an outstanding place to start – and build – a business. As we’ll see at York Business Week in November, there’s a real buzz about the place, a real sense that anything is possible. In many ways the atmosphere in York reminds me of the almost tangible feeling of potential in Denver.

And York has plenty to offer start-ups with The Hub, The Catalyst and the business support available at the Eco Centre.

But talent is scarce – and in greater demand than it’s ever been. Some businesses in York have to fight against the ‘lure’ of Leeds, never mind Berlin!

So the onus – as ever – is on you. Another buck stops on your desk…

The best way to recruit and retain the best talent – whatever the competition – is to lead. That means setting out a clear direction for your company, involving everyone, delegating, recognising your team’s achievements and, above all, making sure they all buy into your vision.

Do that successfully and the burghers of Berlin can drive as many buses as they like round the York ring road!