The Work/Life Support System


One of the facets of my new role within TAB is taking a wider view of the UK economy. That’s not to say I ignored it when I was owner of TAB York – but as MD of TAB UK I’m much more aware of the concerns and initiatives of organisations like the Institute of Directors and the Federation of Small Businesses.

…And last week brought a worrying report from the FSB. Their latest Small Business Index – carried out in the summer and based on a survey of more than 1,200 members – found that optimism among entrepreneurs had fallen sharply. Most worryingly, 13% of those who responded to the survey were looking for a way out of their business, the highest figure since the FSB began measuring in 2012.

OK: let’s introduce an immediate word of caution. I suspect if I were a disgruntled entrepreneur, desperately looking to sell my business I’d be far more likely to complete a survey like this than if everything were going well and orders were flying out of the door.

But that said, these are the worst figures the FSB have seen for five years. Rents, regulations, taxation and what Mike Cherry, FSB National Chairman, described as “the ridiculous staircase tax” all contributed to the entrepreneurs’ dissatisfaction.

Inevitably rising costs and uncertainty surrounding Brexit also received honourable mentions and they all – with the notable exception of the UK’s very cheerful export sector – contributed to a sharp fall in the FSB’s ‘optimism index.’

I wonder though, if it doesn’t go deeper than that for many entrepreneurs.

I’ve written previously about the ever-increasing impact of flexible working. If you’re looking to build your team and attract – and retain – the very best talent then offering flexible working is a must. Flexible hours, the option of working from home and genuine regard for someone’s work/life balance are all key.

But flexible working cuts both ways. One company’s flexible day can very easily equate to someone else’s 16 hour day.

I am not saying that we should all go back to 9 to 5 – that’s never going to happen. You can’t turn the clock back and remove flexible working, any more than you can – let’s take a ridiculous example – turn the clock back and ban a safe, convenient, modern, technology-driven ride sharing app…

In the old days it was very simple: if you wanted to succeed in business, you had to meet people. Face-to-face contact was essential.

Not so today: there are plenty of entrepreneurs out there – especially in the creative sector – who have never met their clients. “They’ve become my biggest client, Ed,” someone said to me the other day. “I think I’ve spoken to the MD twice on the phone. Everything else has been e-mail and Facebook messenger. I’ve got an address for invoicing but I’m not even sure where the MD’s based.”

That’s not unusual: for an increasing number of people running a business – whether they employ staff or not – equals sitting in front of a screen all day. And that must lead to more and more ‘lonely entrepreneurs.’

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Costs, taxation and ever increasing legislation all play their part in making the life of an entrepreneur difficult: but I just wonder how often loneliness is the final straw…

That’s why I believe the ‘work/life support system’ offered by The Alternative Board is so important: it’s why I believe the potential for us to grow in the future is so exciting. Some of you may have seen my recent profile in the Yorkshire Post – and yes, I absolutely believe that we can move from working with 350 business owners to over 1,000. And if we can do that we will very definitely benefit the UK economy.

But as I said in the article, sometimes as a business owner it’s difficult to know where to turn. I also said that I now realise how much I didn’t know when I started TAB York. One of the things I unquestionably didn’t know was how lonely life can be as an entrepreneur and how much having a support network can help.

Five years from now let’s hope the FSB are reporting that virtually no entrepreneurs are desperate to sell their businesses – and if TAB UK can play a part in that I’ll be absolutely delighted. Everyone needs friends: as the old saying has it, ‘Even the sharpest knife can’t cut it alone…’

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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…’

Survival of the Happiest


Orandum est ut sit mens sana in corpore sano

Those of you with a classical education will recognise the words of Juvenal. ‘You should pray for a healthy mind in a healthy body.’

But was the Roman poet satirising those things unwisely sought from the gods – wealth, power, beauty – or was he dispensing business advice a good 2,000 years before Messrs Carnegie, Covey and Robbins?

So why ‘healthy mind’ and – specifically this week – ‘healthy body?’ It’s because I spent a large part of last week reading about the great and good gathered at the World Economic Forum in Davos – the annual gathering of business leaders, politicians and gurus, sprinkled with the odd dash of celebrity. Last year the delegates listened to Leonardo di Caprio attack corporate greed – and then went off to drink Cheval Blanc at £290 a bottle.

Tuesday January 3rd – the first working day of the year – was the day when the vast majority of the British population must have said, “Right, this it” and, along with quite a few people I know, I’m doing my best to have a ‘dry January.’ Yes, it’s a wrench to give up my Friday night bottle of Cheval Blanc, but sacrifices have to be made…

…And dry January – plus increased visits to the squash court – mean I’m feeling fantastic, as the resting heart rate on my Fitbit testifies. I can’t think I’ve ever reached the end of what’s supposedly a depressing month and felt so fit or so focused.

There’s no doubt about it: exercising and eating well – having a healthy body – is a fundamental building block of happiness. It’s also a key part of your business success, as evidenced by this report from Davos: as it says, the kind of drive, discipline and determination needed to push yourself to work out and compete are exactly the same skills needed to get to the top.

I might quibble with the BBC’s wording: I might replace ‘skills’ with ‘mindset,’ but the sentiment is spot-on. The determination you need to maintain an exercise regime is the same determination you need in business: it’s consistent effort that counts, not the results on a single day.

After all, any of us who play golf/play squash/go running know there are days when it just doesn’t ‘click.’ But – like business – there are other days when it magically comes together. The skill is to trust yourself: to know that if you consistently do the right thing the results will come.

So exercise is good – and it follows that the more exercise you do the better it must be. After all, look at the story of Chip Bergh, CEO of Levis who – along with rescuing the 163 year old jeans brand – does a mixture of swimming, running and weights every morning from 5:30 to 7:00. “No-one is as intense as me,” the BBC quote Chip as saying.

As an updated version of Animal Farm might have it, thirty minutes good, ninety minutes better: so should we all increase the time we spend working out?

I’m not so sure.

I look round the tables at TAB York and I see a group of people who are almost certainly fitter than the average entrepreneur. There aren’t many members who don’t do some form of physical exercise.

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But I also see a group of people who are happier than the average entrepreneur. They may have spent January re-thinking their fitness regime, but the people round the TAB York table also know that it’s about balance: not just work/life balance, but keeping every aspect of your life balanced. And if you’re committed to an exercise regime that consumes you from 5:30 to 7:00 and ‘no-one is as intense’ as you, then somewhere down the road something has to give.

There’s a fine line between dedication and addiction – as I suspect one of my new followers on Twitter knows: she’s called LycraWidow…

Christmas, a Speech and a Chocolate Teacake


Well, here we are at post no. 49 of 2017. 12 months and around 35,000 words after I started the year by considering some of your worst clients – Messrs Sceptic, Indecisive and Over-Thinker – we come to the end of the year.

But not to the end of my wife’s shopping list. I’m certain that you’ve also got plenty to do – that business fripperies like ‘cash flow,’ ‘finalise plans’ and ‘chase debtors’ have rightly been pushed to one side – so I’ll crack on…

Let me start the final post of the year with some thanks, beginning with the members of TAB York. As always they’ve been committed, focused, ambitious, challenging – and at the right moments, irreverent. Thank you also to the stellar TAB team at the Harrogate head office and my equally Stella colleagues around the country…

…And my thanks to everyone who has read, commented on, and hopefully enjoyed the blog. The post that brought the most reaction – by some distance – was A Conversation with my Wife: thank you for some of the very personal, reflective and supportive comments. Post that generated the most vitriol? Oh, easy. I’m Fat, I’m Lazy and I’m off to Play Golf, as International Trade Minister Liam Fox revealed he knew nothing at all about the people who run small businesses.

My biggest thanks, of course, go to my wife, Dav, who has been endlessly supportive. It’s now 23 years, 10 months and 29 days since I tiptoed into a phone box in Wingrove Road, Fenham NE4, screwed my courage to the sticking place and nervously asked her if she’d like to see Sneakers. I could live to 1,000 and never do a better day’s work. And to my boys, Dan and Rory who never fail to remind me what’s really important.

It’s normal at this time of year to hand out awards. Given the amount I’ve drunk, ‘Takeaway Coffee of the Year’ is a possibility, but let me go with just one: ‘Moment of the Year.’ It came at a Board meeting not much more than a month ago: as many of you know, there’s plenty of hard-headed business analysis at a TAB meeting: there’s a healthy dusting of good-natured banter as well. And just occasionally, there’s a moment like this: I’ve tried to convey the sentiment, whilst protecting the identity of the individual member:

Hang on, he said. Just let me say something. This – TAB – the seven of you round the table, you’ve changed my life. When I joined – not that long ago – I had no direction: bluntly, I’d fallen out of love my business. Something I’d never have thought possible. It was impacting me, my health and my family. And now it’s totally changed. I know what I’m doing, I know where I’m going, I’m in love with the business again and that’s benefitting the business in spades. I couldn’t be happier, my wife couldn’t be happier. And I couldn’t have done it without you. Thanks, guys.

That single moment made the year for me. Two or three of us round the table suddenly seemed to have something in our eye. The individual member will almost certainly recognise himself, and I simply want to say thank you. A hundred words: a 50 second speech and that’s The Alternative Board – and why I do what I do – in a nutshell.

With that memory still warming my heart, I’m off now to spend some serious time with the family: so let me formally wish you all a very happy Christmas and the absolute best for the coming year.

Christmas for us will start with the now vaguely-famous Reid Xmas Eve party for friends and their families.

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Five years ago the average age of the children was about six: I wandered into the room where they’d all been watching TV, gasped in horror at the mess and watched a chocolate teacake slide gracefully down our wall. Not long now and the average age will be approaching sixteen: I suspect I may have rather more than chocolate teacakes to worry about…

A Conversation with my Wife


Last week I discussed ‘permission.’ That my job is very often about giving an entrepreneur ‘permission’ to grow: to open the door and see what it could be like, to see the potential for himself and his company. But as I wrote last week:

…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 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…

It’s the second of those painful conversations I want to look at this week. There’s no doubt at all that setting up and building a business puts a strain on a relationship. If you Google ‘business success leads to divorce’ the number of results is terrifying.

But sometimes a regular blog needs to go into deep water. Besides, we’ve tackled loneliness and depression in previous blogs: why not marriage guidance?

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(A note on pronouns before I start. As around 75-80% of TAB members are men, and as I’m going to relate this to my own experience, I’ve used ‘he’ for the entrepreneur and ‘she’ for the partner. But swap them round and every point I make is at least equally valid.)

So let me share some of my own story…

When I pushed breakfast round my plate in Watford Gap services and made the decision to start my own business, it wasn’t just a decision about me: it was a decision about my family as well. And yes, it lead to a lengthy conversation with my wife. It also lead to a couple of years of being largely dependent on Dav’s income: years when I was building TAB York and Dav paid the price in going without a lot of life’s luxuries.

Dav’s income allowed me to pursue my dream. You might say that in the same way I give an entrepreneur permission to look through the door, my wife gave me that same permission. I’ll be eternally grateful for that.

Were there some tough times in the first two years? Was the cash flow – with two young children – strained at times? Did it get a little tense occasionally?

Yes to all three.

As I’ve already said, starting a business puts a strain on a relationship. But it’s not just the cash flow – and now we move into real Venus and Mars territory.

The entrepreneur starts a business: his thoughts go something like this:

I’m starting this business for the benefit of my family. Sure things are going to be tough for a while, but ultimately we’ll all benefit. She must be able to see that – and she must be able to see that I’ll go insane if I stay where I am.

His wife takes a different view:

Our security’s gone out of the window. We might not be able to pay the mortgage this month. The kids need new clothes and I need a holiday. And all for what? So that he can spend his days trying to build “a better widget.” Like the world needs another widget…

Then there’s attention: or lack of it. As Dav would tell you, there were plenty of times in the early days of TAB York when I was ‘there but not there.’ All entrepreneurs are the same. Suddenly your head is full of staff who aren’t performing, suppliers who aren’t supplying, the inevitable cash flow problems. It’s all too easy to forget the things you used to do together: date nights, weekends away, the simple act of listening when your partner is talking to you…

Communication is vital in building your business. It’s vital when you come home as well – especially when you’re no longer the boss, but an equal partner.

I often write about the importance of communicating the vision you have for your business. There’s an exact parallel with a relationship. I don’t want to use the word ‘vision’ as it’s too impersonal: but you need to keep focused on the future; on what you want for the family, and for each other.

That’s what Dav and I had – and it’s what we still have. And more than anything, that helps you keep business in perspective.

So yes, there were tough times: some triumphs and some disasters. But as my pal Kipling would say, we tried to treat those two impostors just the same. And we met with pizza instead of steak and treated those two just the same as well…

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…

It’ll Never be Time for the Pipe and Slippers…


Friday September 23rd. And after today, only 11 weeks of the year left. So yes, any minute now I’m going to start looking round the TAB boardroom table and suggest you start making plans for next year.

The time of year for looking ahead is approaching – but for some TAB members, ‘looking ahead’ is starting to take on a slightly different meaning. And it’s no surprise…

It’s more than six years since I started TAB York. As I check the boardroom tables, I see plenty of people who’ve become lifelong friends – but I also see rather more grey hair: or – in some cases – significantly less hair…

Yes, the thoughts of some members are turning towards exit strategies, what they’ll do when they’re not building a business and – ultimately – their legacy.

Well, maybe we should take a leaf out of Charles Eugster’s book…

Charles is 97, and holds the indoor and outdoor 200m and 400m world records for men over 95. He worked as a dentist until he was 75 and – despite a small pause in his 80s – has never stopped working. He still goes to the office in Zurich every day, before training in the afternoon. And Charles comfortably wins my ‘Positive Thinker of the Year’ award:

Even at 87 I wanted an Adonis body, in order to turn the heads of the sexy, young 70-year-old girls on the beach.

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Dr Charles Eugster (87) who has become one of the worlds oldest wakeboarders today when he was given his first lesson at the Ten-80 Wakeboarding School in Tamworth, Staffordshire. Credit: Shaun Fellows / newsteam.co.uk 25/5/2007

More seriously Charles Eugster says that he is “not chasing youthfulness. I’m chasing health.” Retirement, he says, “is a financial disaster and a health catastrophe.”

In many ways this was one of the most interesting articles I’d read all year – and I’d add ‘psychological’ to ‘financial’ and ‘health.’

The sentiments chime with what so many of my friends and clients are saying, and echo an underlying theme from the TAB Conference in Denver.

“I’m not intending to retire any time soon, Ed, if at all,” is a phrase I hear over and over again. No-one, it seems, is thinking of their pipe, slippers and Bake Off.

“I’m going to do a lot less in the business and a lot of other things,” is the consensus – with ‘other things’ covering charitable work, non-executive directorships, and mentoring students and start-ups.

I’ve just finished reading Finish Big by Bo Burlingham: ‘how great entrepreneurs exit their companies on top.’

Burlingham talks about entrepreneurs being defined by their place in the world: specifically by how they see themselves in the community. Unsurprisingly, 66% of entrepreneurs who exit their business “experience profound regret afterwards” – and a large part of that is the feeling that they’re no longer making a contribution.

Back to Charles Eugster and his Adonis body. He’s not ashamed to admit that he’s using his vanity as a motivating factor. And why not? Feeling that you’re valued and appreciated is an integral part of Maslow’s Hierarchy of Needs.

It’s no wonder that 66% of entrepreneurs experience profound regret. They’ve built a business, they’ve a wealth of wisdom, experience and knowledge and now suddenly – unless they plan for it – nobody wants to talk to them. Despite all they’ve achieved, they’re no longer defined by their business, they no longer feel valued.

So TAB York is not only about you and your business, or your work/life balance as you’re building the business. It’s not just about immediate problems and next year’s plans – it’s about what comes afterwards as well. It’s about leaving a legacy – for yourself and for the community.

PS I’m sorry, I had to check. Charles Eugster’s time for the 200m is 55.48 seconds. That’s three times longer than Usain Bolt’s time – but it’s roughly 8 minute mile pace. Well, well, there’s a challenge and an interesting ice-breaker for a few TAB meetings. Bring your shorts, ladies and gentlemen; let’s see who’s slower than a 97 year old…

I’m Lazy, I’m Fat and I’m off to Play Golf


The UK trade deficit shrank in July, down to £4.5bn from £5.6bn the previous month. The services sector rebounded sharply as the Purchasing Managers’ Index jumped to 52.9 from a seven year low of 47.4 in July. The construction sector is showing signs of recovery – but the British Chambers of Commerce has cut its forecast for UK growth this year, reducing it from 2.2% in March to 1.8%, citing uncertainty over the Brexit negotiations.

In short there’s been the usual mixture of good and bad economic news over the past couple of weeks. There hasn’t been the immediate post-Brexit apocalypse some commentators had predicted, but the negotiations to leave the EU have barely begun. None of us – including the negotiators – have much idea what the talks over the next two years will bring.

But none of this has stopped Liam Fox, the MP for North Somerset, current Secretary of State for International Trade and quite recently, possible successor to David Cameron.

Last week Liam Fox made his feelings known on British businessmen. The country, he declared, was “too lazy and too fat” with businessmen preferring golf on a Friday afternoon to trying to boost the country’s prosperity.

This country is not the free-trading nation it once was. We have become too lazy and too fat on our successes in previous generations. Companies who could contribute to our national prosperity – but choose not to because it might be too difficult or too time-consuming or because they can’t play golf on a Friday afternoon – we’ve got to say to them that if you want to share in the prosperity of our country you have a duty to contribute to the prosperity of our country.

Richard Reed, co-founder of Innocent Drinks, said that Mr Fox had “never done a day’s business in his life.” I suspect that several members of TAB York would respond in significantly stronger terms…

Of course the comments are nonsense. Of course they’re insulting to the overwhelming majority of people running SMEs – and worryingly they show an International Trade Minister alarmingly out of touch with… well, trade. But there are possibly even more important considerations than that.

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I’m not fat (said he, squeezing into the suit he got married in 18 years ago) and I hope no-one considers me lazy. I did, however, play golf on Thursday and I make no apology for that.

Since this blog started – more than six years ago now – I’ve repeatedly stressed the need for time away from work. ‘Work hard, play hard’ might be a cliché, but it stops burnout, keeps you fresh and, importantly, gives you a broader perspective on life.

I remember reading about Denis Healey criticising Margaret Thatcher for having no ‘hinterland:’ no breadth of knowledge of art, culture, literature or science.

You might argue that ‘hinterland’ isn’t important for business success: that a laser-like focus on your goal will get you there.

I wonder… As the worlds of technology and business continue to change ever more rapidly, then knowing about – and learning from – seemingly unconnected disciplines will, I think, become increasingly important.

Just as importantly, hinterland – and the associated work/life balance – is a lot of fun. Which brings me back to Master Fox and our politicians: when was the last time you saw one on a golf course? Too many of our politicians – other than the obligatory August photo op in Cornwall – don’t seem to have any concept of work/life balance: and our political life is poorer for it.

Rather than criticising people running businesses, perhaps our politicians could learn from them – not least in being able to take planned, productive time off. If I see someone who never takes time off then I see someone who’s heading for trouble. You only have to look across to the US to see the latest example of a seemingly ‘indestructible’ politician showing herself to be all too vulnerable.

So I’ll continue to encourage the members of TAB York to work hard and play harder. The idea that any of them opt to do less than their best is simply wrong: the moral obligation they feel to their businesses, their staff, their customers – and the work ethic that flows from that – is something I’m honoured to see on a daily basis.

Time to Dump the Hairdryer?


Anyone who’s ever watched a game of football will have heard of ‘the hairdryer’ – the phrase coined by Mark Hughes to describe the dressing room rages of former Manchester United manger, Sir Alex Ferguson.

As Wayne Rooney said in his book, ‘My Decade,’ There’s nothing worse than getting the hairdryer. The manager stands in the middle of the room and loses it at me. He gets right up in my face and shouts. It feels like I’ve put my head in front of a BaByliss Turbo Power 2200 … It’s hard for me to take and sometime I shout back. I tell him he’s wrong and I’m right.

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Well, let me have a pound on who won that particular argument – but top marks to Wazza for getting the product endorsement in there…

So why am I writing about football in England when I’m still out here in Denver? Especially when the Broncos have started their pre-season games and anyone with any sense is at Sports Authority Field

Simply because a day old copy of the Times reached me, that’s why. And once I’d read about Newcastle’s latest victory and inevitable return to the top flight (being in the USA breeds confidence…) I turned my attention to an article by Matthew Syed.

I’ve written previously about Syed’s book Bounce – the Myth of Talent and the Power of Practice. I didn’t agree with the central thesis of that book, so as I started to read his article in the Times I was getting ready to take the opposite view again.

But I think he was spot-on: and I think there are valuable business lessons in what he had to say.

The title of Syed’s article was, ‘Why a manager’s touchline rantings could be doing more harm than good.’ He’s writing about conventional wisdom and yes, the accepted wisdom is that football managers have to rant – and get the hairdryer out. ‘What’s he doing? We’re two down and he’s just sitting in his seat!’ ‘Well, whatever he said at half-time has certainly worked. They’re a different team in this half…’

But all the evidence shows that ranting from the sidelines doesn’t work. Syed cites children’s sport – where the coach often barks a stream of instructions, ‘despite the empirical finding that this undermines the ability of [the] children to think for themselves and slows learning.’

According to Syed, the conventional wisdom in football is almost all wrong – and he contrasts it with Formula One, a sport which – in the words of Paddy Lowe, Mercedes technical director – there is no conventional wisdom and “standing still is tantamount to extinction.”

Like football, business is riddled with conventional thinking and accepted practices. Why are we doing it this way? Because we’ve always done it this way.

I’ve been so busy in Denver that I’ve had to push my ‘key things I’ve learned’ post back to next week. But there’s been one theme running through every conversation I’ve had and every presentation I’ve attended: with the business world constantly changing, ‘because we’ve always done it this way’ is just about the most dangerous belief there is.

Out here in Denver you can almost feel the ‘wind of change’ blowing from Silicon Valley. The Denver/Boulder region has even been talked of as the next Silicon Valley. There’s a palpable start-up buzz in the air and no business will be able to rely on ‘we’ve always done it this way.’

Matthew Syed ends his article with a compelling phrase; ‘It is innovation, not convention, that holds the key to success.’

He’s absolutely right. ‘If you always do what you’ve always done…’ is more true than it’s ever been. And now it appears that the result will be the same if you always do what everyone else has done as well.

Two words are on everyone’s lips in Denver: ‘Why not?’

Why can’t it be done a different way, a better way?

Whether it’s sport or business the old beliefs and the accepted wisdom are being challenged and rejected. So don’t be afraid to ask yourself ‘why not’ over the coming months – and expect the phrase to echo round the TAB York boardroom tables.

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.