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.

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What can we Learn from Loyalty Cards?


Open your wallet.

Go ahead. Open your wallet. Or your purse. I’m conducting an experiment.

I am prepared to wager that in there – along with the photograph of your children and the credit cards – are two or three loyalty cards. I don’t mean your Tesco Clubcard – I mean the ones that are stamped. The loyalty cards from coffee shops, bakeries and your enterprising local burger restaurant.

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…And I’m prepared to make a second wager: that all those loyalty cards – that need eight or ten stamps before you get your free bagel or burger – have just one or two stamps on them. That you thought, ‘hey, that’s a good idea, I’ll do that’ and then quickly lost interest.

You’re not alone: that’s archetypal human behaviour – but according to an article in the Harvard Business Review it’s behaviour that may offer business owners and managers an insight into how to improve results from their teams.

Interestingly, it flies in the face of most current business thinking, especially when it comes to setting and achieving goals.

The modern trend is towards flexible working. As I wrote recently, the evidence suggests that teams allowed to work flexibly are both happier and more productive. And unsurprisingly, the vast majority of people have a preference for flexibility when it comes to goals. As the HBR puts it, ‘Adopting a somewhat elastic approach to setting goals allows us some future wiggle room.’

But it you want to achieve a major goal, then the article suggests you’re much more likely to do so with a rigid and restrictive structure for the necessary steps.

And this is where loyalty cards – and yoghurt – come in.

Professor Szu-chi Huang and her colleagues in the marketing department at Stanford University conducted research on the effectiveness of loyalty cards at a local yoghurt shop. It was the standard offer: a free yoghurt after six purchases.

There were two separate offers – the ‘flexible’ one, where customers were free to buy any yoghurts they liked, and a far more restrictive one, where customers had to purchase specific yoghurts in a specific order.

Unsurprisingly, there was far more take-up of the ‘flexible’ offer. Rather more surprisingly, those customers opting for the restrictive offer were nearly twice as likely to complete six purchases and get the free yoghurt. (And before you think it’s just one yoghurt shop near Stanford University, YesMyWine, the largest imported wine platform in the world, has reported similar results with special offers.)

The academics at Stanford suggested that the result was because customers responded to not having to make a decision: that in our ‘information-overload, decision-fatigued’ society people will appreciate something that gives them the chance to make fewer decisions. They go on from that to draw a conclusion for business: that once a goal has been decided on, managers should be rigid in the steps needed to accomplish it – in effect, take any decisions away from the team.

I’m not so sure. First of all I’d argue that people who sign up for a ‘restrictive’ offer are more committed in the first place and therefore more likely to ‘see it through.’ Secondly, my experience of managing large teams suggests that the real answer is “it depends.”

Specifically, it depends on the experience and capabilities of your senior team. If you’re looking to achieve significant change and/or achieve a major goal then, yes, there needs to be a detailed, step-by-step approach with a list of actions and a series of deadlines.

But if you have a ‘details guy’ in the team, my advice is delegate it to the details guy: it’s almost always better to ‘trust and delegate.’ But if you don’t have a details guy, then the actions and deadlines become your job: what’s absolutely certain is that they cannot be left to chance.

So there I am, disagreeing with learned academics at the world’s third-ranked university. I’d be fascinated to hear your views on this: and yes, let’s discuss it over a coffee. I can’t miss a chance to double my number of stamps…

New Year: New Quotes


Good evening/morning – and a very, very happy new year. I hope you had a wonderful Christmas and that you’re now ready to enjoy a truly stellar year.

…And if I sound enthusiastic and positive, it’s because I am. I don’t think I’ve ever looked forward to any year as much as I’m looking forward to 2017. (Ah – damn it. Apart from the year I got married, of course. Only four lines into a new year and I put my foot in it…)

For me – and I hope for all of us – 2017 is going to be full of challenges and opportunities. And isn’t that what life and business is all about?

So let’s start the year with some inspirational words. Anyone who’s been in business for a while will have read all the standard Steve Jobs/Henry Ford quotes: so I’ve done a little digging to see if I can find some you might not have come across before. Hopefully one or two of them will kick-start a very successful year for you.

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The first one is from Jake Nickell, the CEO of Threadless. I try not to make any decision I’m not excited about.

I couldn’t agree more. If I turn to someone in a TAB meeting and they say, “I’ve had this idea. I think it’s OK and it might make some money,” then I guarantee that in six months it will have been quietly shelved or – much more likely – it will have turned into a problem and be losing money.

If, on the other hand, my Board member is so excited she needs to stand up when she starts talking about her new idea; if she’s waking up to make notes on it at three in the morning – then we might just have something that changes a business and/or a life. You’re an entrepreneur: having ideas is what you do. You only need to act on the ones you’re passionate about.

The vast majority of us will have seen ads for Under Armour when we’ve been watching sport. Here’s what founder and CEO Kevin Plank has to say: There’s an entrepreneur right now, scared to death, making excuses, saying, “It’s not the right time yet.” There’s no such thing as a good time. Get out of your garage and go take a chance and start your business.

Or as Seth Godin, author of Permission Marketing, put it, If you wait until there’s another case study in your industry you’ll be too late.

There are 101 reasons not to do anything new in 2017. Worries about Brexit. What will Trump do? Elections in Europe. The possible collapse of the Chinese credit boom…

But there are 101 reasons not to do anything in every year. If you’ve had a great idea; if it keeps you awake at night; if you have the support of your peers round the TAB table… Then, as the iconic Nike ad said, Just do it.

Who’s up next? Indra Nooyi, Chair and CEO of PepsiCo. I cannot just expect the organisation to improve if I don’t improve myself and lift the organisation. That [is] a constant.

I’m not sure there’s much I can add to that. Today – more than ever – you simply have to go on learning and improving. If you stand still your business will stand still – and as I’ve written many times, once a business stands still and starts to stagnate, it’s the beginning of the end.

Fiddlesticks. I’m going to have to admit defeat: I can’t get away without a Steve Jobs quote after all. But here’s one you might not have come across.

Jobs was giving a small, private presentation about the iTunes music store to some independent record label people. At the end of the presentation they were all bursting with ideas and features that could be added. “Wait,” Jobs said. “I know you have a thousand ideas. So do we. But innovation isn’t about saying ‘yes’ to everything. It’s about saying ‘no’ to all but the most crucial features.”

Why do I like that story so much? Simply because you can take ‘innovation’ out and replace it with ‘success.’ And if you want a recipe for success in 2017, that’s it. Make decisions that excite you, don’t wait to put them into action, constantly improve yourself – and above all, say ‘no’ to everything that’s not crucial to your own success and the success of your business.

The Road to 2017


Last week Keaton Jennings made his debut for England, playing against India in Mumbai.

He was dropped off the 21st ball of the day. At the time he’d made 0. Had the catch been taken, he couldn’t have made a worse start to his test career. But it wasn’t – and by the end of the day Jennings was the hero, scoring 112 – only the 19th England player to make a hundred on debut.

Listening to a recap of the first day’s play one of the summarisers made a really important point: even if Jennings had made 0, even if he’d failed in his first few innings, he still looked right. ‘We get too focused on outcomes in very small samples,’ he said.

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That’s something to keep in mind as you head into 2017. You’ve now made – or you’re close to finalising – your plans for the year ahead. You’re convinced they’re the right plans. You’ve run them past your colleagues and in January you’ll do the same with your fellow Board members. Come Tuesday January 3rd they’re the plans that will guide you through the year.

So don’t lose heart if you get a duck in January. If the plans don’t work immediately, don’t rip them up. Refine, tweak, adjust, get outside the line of off stump: but remember that the first month of the year – like the first steps in building a business or the first few innings in a test career – is a ‘very small sample.’

Anyway, the end of 2016 is approaching. You may now be tempted to breathe a sigh of relief. You may carelessly think, ‘Phew, thank the Lord that’s over. Leicester City, Brexit, Trump… Surely we can’t have another year that’s so unpredictable?’

‘Yes we can,’ is the answer to that question: I suspect there may be quite a few twists, turns and bumps along the road in 2017. Domestically Brexit will be triggered: how it will end, no-one (least of all the Government) knows. And I wouldn’t be entirely surprised to see Theresa May call a General Election next year, Fixed Term Parliament Act or not…

But it’s my colleagues in TAB Europe who’ll see their countries become the focus of attention next year. March brings a General Election in Holland with the far-right Freedom Party currently on course to become the largest single party. The French Presidential election is in April/May – the signs are that it will be fought out between Marine le Pen of the Front National and the likely winner, the right’s self-confessed admirer of Margaret Thatcher, Francois Fillon.

And then in September there are elections in Germany: Angela Merkel will seek a fourth term, but she will surely come under plenty of pressure from the right-wing Alternative fur Deutschland (AfD).

May you live in interesting times’ as the supposedly-Chinese curse has it. I suspect we’ll look back on 2017 and decide that ‘interesting’ was an understatement. So next year will not be a year to take your eye off the ball. No, don’t panic if your plans are not on track by January 31st. Even if the world changes so much next year that you need to completely re-write your original plans, remember the words of Dwight D Eisenhower, “In preparing for battle, I have always found that plans are useless, but planning is indispensable.”

What you will need to do next year is keep a close watch on your metrics: the two or three key statistics, ratios or measurements that absolutely determine the health of your business – the ‘pulse’ that I’ve talked about in previous posts.

Through December I’ve had the remarkably enjoyable job of listening to TAB members reflect on the past year: I’m delighted to say that far more has gone right than has gone wrong. Has there been a common thread running through the success stories – apart from measuring those key metrics?

Yes, I think there has. ‘Resilience’ and ‘consistency’ are the two words that come to mind: TAB members have consistently done the right thing and stayed true to their beliefs and their vision. And as a result, they’re reaping the rewards.

So 2017 will be challenging: I suspect the old PEST analysis will be wheeled out several times. But like all years, it will also be full of opportunities: and however challenging, the plans you’ve made, the metrics you measure and the support of your TAB colleagues will ensure that you couldn’t be in better shape to greet the coming year…

A Glimpse of the Future


I love my job: the opportunity it gives me to say “this is how it could be” – to see someone recognise the possibilities in their life and their work – is immensely fulfilling.

That’s a quote from last week’s post – and the inspiration for those two lines came from the second episode of Westworld.

One scene really struck a chord with me: it went to the heart of everything I do, and I’d like to expand on it this week.

I’m aware some of you may not have seen Westworld, so I’ll tread carefully. In the scene the increasingly desperate writer, Sizemore, presents a scheme for Westworld’s ‘greatest narrative yet.’ There’ll be maidens to seduce, Indians to kill and unnamed horrors that I’m not going to mention in a Friday morning blog post.

“Above all,” claims Sizemore, “It’ll show the guests who they really are.”

He’s shot down by Dr. Ford (Anthony Hopkins), the owner of Westworld.

The guests aren’t looking for a story that tells them who they are. They already know who they are. They’re here because they want a glimpse of who they could be.

Sometimes you’re watching a film, reading a book or listening to a song and there’s a line that absolutely hits home. That’s how it was for me last Tuesday. Hopkins captured not only the essence of Westworld, but also the essence of what I do for a living.

The entrepreneurs I speak to aren’t looking to be told who they are, or where their business is now. They already know that. They want a glimpse of who they could be: of how far they could take their business – and how far the business could take them.

The first time I meet someone, that’s all I can offer – a glimpse.

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What do I want in return? First and foremost, I want an entrepreneur with courage. Someone who – to quote Bobby Kennedy – is willing “not to see things as they are and ask ‘why?’ But to see things as they could be and ask ‘why not?’”

So it’s not someone who wants to gamble on the future, or even someone who’s endlessly positive and always sees the glass as half-full. What I’m looking for is an open mind: a willingness to step outside their comfort zone and the realisation (even though they might not be acting on it then) that you cannot become the person you want to be by continuing to be the person you are.

My job is to say, ‘”This is how it could be, for you and the company.”

I’m giving the entrepreneur permission to think about the future: I’m saying, “There’s the door, it’s OK to walk through it.”

In one of his TED talks Simon Sinek makes a significant point: Martin Luther King didn’t say ‘I have a plan’ – much less, ‘I have a business plan’ – he said “I have a dream.”

Giving people permission to dream – and a setting in which they can dream – is what a great TAB board does. Make no mistake, sitting there at your desk, being the person you’ve always been, isn’t conducive to dreaming. In order to think differently – to see things as they could be – you need to move out of your everyday environment.

Good leaders spend their time encouraging others: giving them the means and the encouragement to grow. But someone needs to tell the leaders they can grow as well: that it’s OK for them to dream, that they don’t always need to be the detached pragmatist running the company. That they can be who they could be.

So when I say, “This is how it could be” I’m opening the door and offering a glimpse of what’s on the other side. Hopefully the entrepreneur will walk through the door, where she’ll find half a dozen like-minded people waiting for her.

But going through that door can be painful. Because you’ll need to have a couple of conversations: one with your team, admitting that maybe you don’t have all the answers. And one – which I’ll tackle next week – with your spouse or partner, saying that you have room to grow: that you’ve had a dream, and you’re going to pursue it…

Nine Pregnant Women


One of the things I do every other Wednesday is read Suzanne Burnett’s blog.

Many people reading this will know Suzanne – a mixture of successful businesswoman and farmer’s wife with a healthy dollop of insight and common sense. And this week, with a quote in her blog that’s perfect for this time of year. It’s from legendary American investor Warren Buffet:

No matter how great the talents or efforts, some things just take time. You can’t make a baby in a month by making nine women pregnant.

The year is ticking by. As I wrote a couple of weeks ago, now is the time to start making plans for next year. But plans – not ‘wish list’ – is the key word.

Remember that it’s ‘SMART:’ specific, measurable, attainable, realistic and timely. And the most important word in there is ‘realistic.’

Over the years – both in the corporate world and as owner of TAB York – I’ve seen thousands of business plans produced at this time of year. By March of the following year a significant number of those plans lay abandoned, hastily pushed to the back of the filing cabinet, their creators denying all responsibility for them.

And the main reason for that was simple: the goals and targets weren’t realistic – and it had quickly become apparent that they weren’t realistic.

But faced with that blank piece of paper the temptation to be too ambitious – or to please the boss peering over your shoulder – is almost overwhelming.

Yes, yes, I know. ‘Better to shoot at the moon and hit an eagle.’ But sometimes we need to put Norman Vincent Peale on hold and listen to Thoreau as well: ‘If you build your castles in the air that’s where they should be: now put the foundations under them.’

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Or as Warren Buffet said, ‘some things take time.’

Many TAB members have made tremendous strides this year: may will do the same in 2017. But there’s no disgrace in saying, ‘No. Next year’s a year when we need to put the foundations in place for 2018.’

One of the key factors in building a successful team – both inside and outside your business – is finding people who’ll tell you the truth. I love my job: the opportunity it gives me to say “this is how it could be” – to see someone recognise the possibilities in their life and their work – is immensely fulfilling. But I couldn’t do my job if I wasn’t unfailingly honest with people. And sometimes that means urging caution: if the immediate job is to fix the cash-flow, nothing matters until that’s done.

So as well as holding up a mirror saying ‘this is how it could be,’ sometimes I have to say, ‘this is how it really is. Let’s fix it.’

As you may have noticed, the debate about Brexit rumbles on. As I write, the legality of invoking Article 50 is being tested in the courts. Clinton and Trump are having a mild-mannered disagreement. Russia, China… the world is going to be a challenging place in 2017 and if that coincides with a year of consolidation for your business, that’s fine. I’ll support you 100% of the way.

No business is on a constantly upward path. At some time we all need to pause and consolidate before we jump to the next level. Almost always, business growth is a series of steps – in turnover, staffing levels and the quality of your team.

It’s my job – helped by your colleagues round the TAB table – to help you make those steps, and to help you recognise the right time to take the steps. So don’t worry if it isn’t next year: setting unrealistic and over-ambitious goals might satisfy your ego in October, but it could cost you a whole year when you quietly shelve the plans in March.

No, you can’t make a baby in a month. And you can’t build a business in one unrealistic year: everything worthwhile takes time.

Marks out of Ten


Annual income twenty pounds, annual expenditure nineteen, nineteen and sixpence, result happiness. Annual income twenty pounds, annual expenditure twenty pounds, ought and six, result misery.

We’re all familiar with Mr Micawber’s quote – and while inflation may have changed the numbers, the essential truth of Charles Dickens’ words can never be challenged. Translate them into business and they’re the reason you monitor your cash flow, the reason you check your KPIs and the reason you keep a lid on the expenses.

Yes, you can get away with spending that extra shilling in the short term, but annual expenditure of twenty pounds, ought and sixpence catches up with you in the end. ‘The mills of the Gods grind exceeding slow,’ Sextus Empiricus pointed out in the 3rd Century, ‘But they grind exceeding fine.’

Make no mistake, the result of that extra shilling of expenditure is misery. There is nothing that drags you down – mentally and physically – like staring at the cash flow every night, realising it just doesn’t add up.

So make sure you don’t spend that extra shilling, and you can forget about Wilkins Micawber, and be happy for the rest of your business career.

Or maybe not…

…Because I think there are other areas of business life where the ‘Micawber deficit’ can have a significant impact on your happiness. It’s not just the cash flow.

Let me turn for a moment from Micawber to Maslow – and his hierarchy of needs. Right at the top of the pyramid is self-actualization: as Maslow put it, “what a man can be, he must be.”

Nowhere is this more true than in business. And it takes me right back to last week’s post and the decision to ‘move to the next level.’ If you feel you can do it, you have to do it. If you don’t, you’ll end up frustrated and disappointed – and ultimately, a danger to your business.

We’ve had a recent innovation at TAB York. Before the meeting starts I ask every member for a ‘mark out of ten.’ It’s not quite ‘life, the universe and everything,’ but it is an indication of how they’re feeling – about life and business.

Supposing I were to take that one stage further – and ask the board members to rate their own performance over the last month: to give themselves a mark out of ten?

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The actual mark wouldn’t matter: one man’s eight is another woman’s six. But in the context of this blog, one thing emphatically would matter. We all have minimum standards for ourselves. Whether that’s a six or an eight is immaterial. We all have a number that reflects the minimum level of performance that’s acceptable – that in Maslow’s terminology, confirms our self-actualisation.

To miss that number on a consistent basis – to regularly deliver less than your best – is a recipe for long-term unhappiness. As Mr Micawber might have said:

Monthly target eight, monthly average eight point one, result happiness. Monthly target eight, monthly average seven point nine, result misery.

There are few worse feelings than performing below the level you’re capable of: do that consistently, and it starts to eat into you. And suddenly ‘could have, should have, would have’ are rearing their ugly heads…

KPIs and the cash flow are crucial to the health of your business: but monitoring the KPI that’s your own performance is every bit as important.

Mention of KPIs takes me back to last week’s post: to cricket, a sport which is most emphatically measured in KPIs. Bluntly, I’m not sure whether to order a slice of humble pie or send an invoice…

You may recall that I was mildly critical of Joseph Edward Root. I wonder if he really wants to be one of the game’s greats or merely very, very good. Let’s see if he makes the decision [to move to the next level] over the next five days…

Joe Root – obviously having read the blog on the Friday morning – responded with 254 in the first innings and the highest aggregate runs ever scored by a batsman at Old Trafford.

So don’t ever tell me the blog doesn’t work! And if you’d like me to be mildly critical of your football team as the season approaches, simply send a large cheque to ‘Reid Sports Predictions.’ I’ll do the rest…

I’m now off on holiday for a week. The blog will be back, relaxed and refreshed on August 12th. And I’ll be back determined to deliver at least 8.1 to all my members through the rest of the year.

The Next Level


I was watching the test match at the weekend. Specifically, I was watching Joe Root as – for the second time in the match – he got out playing a shot he emphatically shouldn’t have played.

Joe Root is one of the most naturally talented batsmen I’ve seen – probably the most talented if you only consider England players. And in his short career, he’s not been short of accolades. ‘Could be the best we’ve ever seen.’ ‘He’ll break every record there is.’

But I wonder…

Because as I watched Root casually swat a long hop from Rahat Ali into the grateful hands of Yasir Shah, I wondered if he really wanted to be one of the game’s greats. Or merely very, very good.

Whatever sport you watch, there are people with incredible natural talent. But talent doesn’t always translate into the record books. And everyone reading this blog has watched a sporting event and thought, ‘Why is this person not playing/competing at a higher level?’

Not for the first time, I was struck by the ever-present parallels between sport and business. There are some incredibly talented entrepreneurs out there: some of them right at the top of the tree – but some of them working ‘a long way below their pay grade.’

There are others who may not have been the sharpest tool in the box. But they’ve kept pushing themselves, kept learning, kept setting new targets.

I’ve written many times that the progression of a business is never a straight line. It’s never a graph going inexorably upwards. More often than not it’s a series of plateaus. Reach a level, consolidate, take the next step, reach a new level, consolidate…

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The more time I spend working with entrepreneurs, the more I think it’s the same for them. Reach a certain level – quite possibly the level that was the original goal – there’s a period of consolidation, and then one morning the light bulb goes on again: ‘I’m capable of more than this. I can go to the next level.’

Not for one minute am I saying that you must move to the next level. Goodness knows, no-one has written the phrase work/life balance more than me. But equally, you don’t want to watch the sun go down one day thinking, “If only…”

And my experience of working with entrepreneurs tells me that once the light bulb has gone on, you have to act. Otherwise frustration and boredom set in – and as I’ve written previously, they are few more dangerous forces than a bored entrepreneur…

Moving to the next level is one of the key areas where TAB can help. Yes, we’ll always make sure that your work/life balance stays well and truly balanced. But once you’ve decided to make that move, the support of your peers becomes invaluable – both consciously and subconsciously.

Clearly your fellow board members can help: there’s almost certain to be someone around the table who’s made the same decision: who’s asked themselves the same questions you’re now asking.

And rest assured I’ll do everything in my power to help. There’ll come a day when I’m watching the sun go down: rest assured that I have no intention of letting my mind drift back to any TAB York members and thinking ‘if only…’

But it’s the subconscious side that fascinates me…

I’ve seen this happen several times.

Someone around the TAB table makes a major announcement. They’ve clearly moved to a different level.

Across the table an expression changes. There’s a momentary raising of the eyebrows. Then the eyes narrow. The focus intensifies. The lightbulb goes on. ‘Good’ is no longer good enough. An entrepreneur has made the decision to move to the next level.

Let’s see if an England batsman makes the same decision over the next five days…

The Only Certainty is Uncertainty


From the Daily Mail: 24th June 2017

“What on earth were we worried about?” That was the triumphant cry from Prime Minister Michael Gove yesterday as he celebrated ‘Independence Day’ – the first anniversary of the UK’s historic decision to leave the European Union. “What do we see now?” he asked to loud cheers on the Conservative benches. “The pound riding high, the stock market at a record level, small firms liberated from the shackles of Brussels’ red tape and free to recruit. Foreign firms rushing to invest in ‘the Switzerland of Northern Europe.’ The motion to make June 23rd a national holiday was passed by a majority of 378, with only the SNP and the handful of Labour MPs remaining after last month’s general election voting against. Celebrating with a pint of Late Knights’ Worm Catcher, Lord Farage said it was “a wonderful day for ordinary British people.”

From the Guardian: 24th June 2017

“I propose these measures to the House with a heavy heart,” said Chancellor of the Exchequer Nicola Sturgeon as she announced more tax rises and further austerity measures in her second emergency Budget of the year. “Exactly twelve months has passed, Mr Speaker, since we took the ridiculous and xenophobic decision to leave the EU. We now see the pound approaching parity with the dollar, the stock market plunging and unemployment rocketing.” Prime Minster Dan Jarvis – who seems to have aged ten years in the six months since the SNP/Labour coalition came to power – looked on with a pained expression. He is back in Brussels tomorrow as he tries to negotiate Britain’s re-entry to the EU, but must know that Angela Merkel and the German bankers will make the UK pay a heavy price.

Two scenarios, each equally unlikely.

But this time last week anyone predicting a lame-duck Prime Minister, an even lamer Leader of the Opposition and thirty shadow cabinet resignations in one day would have been advised to increase their medication.

Given the outcome of the Referendum – and the consequent fall-out – we can say goodbye to any hint of certainty for the next few weeks, and possibly for a good deal longer.

…Which is going to make running your SME extremely difficult. Big companies will be reluctant to commit to orders, fuel costs will increase as the pound falls against the dollar and – I suspect – some banks are going to be unwilling to lend as they watch their own share prices drift south.

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My question last week was, ‘Does Brexit Really Matter?’ I stand by my thesis that five or ten years from now it will not be the most significant factor in the success of your business or your personal life. But in the short term there will be some very difficult questions for owners of SMEs to deal with.

Confidence, costs and the availability of capital will certainly be three of them – but there’s a fourth, highlighted by this article on the BBC website. Will the pool of talent dry up? When you need to hire someone outstanding to drive your business forward, will there be anyone left in the UK? And if there is, will a small business in North Yorkshire be able to compete?

I was talking to a friend of mine on Monday. “My son’s graduated on Friday,” he said. “Stellar degree from a top university. And now he tells me that he’s far more likely to work abroad.”

I suspect that conversation is being repeated up and down the country. And for the owner of a SME it’s a double whammy. Not only might your top talent move abroad, there might not be anyone around to replace them.

Hopefully you’ve now received (and read, obviously!) TAB’s ‘top tips in the light of the Brexit vote.’ One of those tips is simple: reassure your team, especially if you have EU nationals among them. Over the next 12 months the people you work with are going to be more valuable than ever – and more coveted by your competitors.

As everyone knows, I voted Remain. But living and voting in a democracy means you don’t always get the result you want. Now we have to get on with it. I hope – and believe – that there’ll be goodwill on both sides and that the sensible politicians in the UK and the EU will hold sway. But in the short term, the waters will be choppy. One captain may have resigned: those of us running SMEs don’t have that option. We’ll get through it – but a key part of that will be protecting, nurturing and retaining our teams.

5 Business Lessons from your Fitbit


I don’t – yet – have a Fitbit. But I’ve about a dozen friends, colleagues and clients currently sporting the blue/orange/black (and now pink) wristbands. Without exception, they’re fans. And in a few cases they’re more than fans: the light of religious conviction burns in their eyes.

It’s phenomenal, Ed. The wife gave me one for Christmas. Thought I could never do 10,000 steps a day. Now, I can’t stop. I got my 500 mile badge the other day. 500 miles! Since Christmas! That’s like walking from York to John o’Groats. And I’ve climbed enough flights of stairs to reach the cruising altitude of a jumbo jet…

As I said, the light of religious conviction: and the enthusiasm that goes with it…

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But are there any business lessons in having a Fitbit? Yes, if it helps you lose weight that’s brilliant. If you’re physically fit then your performance at work is going to improve: you’ll have more energy and more focus. But does the Fitbit have any specific business messages? The more I talk to friends and colleagues, the more I think it does…

Daily Targets Work – and they build into successful weeks and months

You’re supposed to do 10,000 steps a day. At first I didn’t see how I could do it. Then I realised I’d done 6,000 without even trying. A few changes, a walk at lunchtime and I was there. Now I’m doing my 10,000 a day – and suddenly I’m walking 35 miles a week…

This is fundamental isn’t it? Successful years don’t just happen. They’re made up of successful months, weeks and days. And hitting your targets every single day means that success in the long term is inevitable.

Marginal gains work as well

So I parked my car at the far end of the car park. Made a little detour as I walked to work. Twenty minutes walking at lunchtime instead of staring at a screen… Suddenly I’m easily doing 10,000 steps a day.

I’ve written about marginal gains several times on the blog. Having a Fitbit illustrates that concept perfectly. Everyone I know who manages their 10,000 steps a day has done the same thing – they’ve made a series of small changes which taken together have produced remarkable benefits. Exactly the same principle applies in business. Small savings on your costs, a small increase in your sales calls, a small decrease in the time it takes customers to pay you: none of them hugely significant in isolation – but taken together they’ll make a real difference to your bottom line.

Keep track of your KPIs

Last week I took 74,346 steps: I walked 34.14 miles, climbed 271 floors and burned 19,536 calories.

What are those apart from fitness KPIs? Instantly you know what you’ve done in the week, you know how you compared with last week and you know that if you took in more than 19,536 calories there’s only going to be one result when you step on the scales. Again – it’s an exact parallel with business. Every successful business owner I know measures results: they do it consistently and if they’re off course they take action quickly. But you can’t do that if you don’t know the figures.

Your Fitbit doesn’t accept excuses

It’s merciless, Ed. My Fitbit doesn’t care if it’s raining, snowing, freezing cold, whether I’ve had a hard day or whether York’s been invaded by aliens. If you don’t reach your goal you don’t get one of those little stars and that’s that.

See above: every successful business owner I know measures results – and every unsuccessful business owner makes excuses. It’s like your Physics teacher used to say: “There’s no point cheating. You’re only fooling yourself.” If you’ve missed your targets, you’ve missed your targets. Do that consistently and your business is only going in one direction.

Success is addictive

I cannot conceive of not doing my 10,000 steps a day. Between you and me I’d had a tough day last week. I went to bed at around 9,000 steps. Five minutes later I got out of bed, got dressed and walked to the corner shop. My day’s not complete until my left wrist starts vibrating.

…But hit your targets consistently – achieve the business equivalent of your 10,000 steps a day – and again, your business can only go in one direction. You cannot do anything but succeed.

As I say, I don’t yet own a Fitbit. But some of my friends and board members have achieved spectacular results thanks to the fitness band on their wrist. Hopefully they’ll heed these five lessons – and see it as the business coach on their wrist as well…