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Lessons From 30 Years of Selling Mid-Market Businesses

Posted on June 4, 2018 | by root

Lessons From 30 Years of Selling Mid-Market Businesses

This June marks 30 years since I, Lord Leigh of Hurley, co-founded Cavendish Corporate Finance. Over three decades of deal-making, Cavendish has advised on the sale of some 600 companies, mainly in the ‘mid-market’ range – that is, with transaction sizes ranging from £10-300 million. During this time we have advised on deals in all kinds of M&A environments – some frantic, others more subdued – and operated through the most extraordinary market conditions in recent memory, from the dotcom bubble and crash to the most severe financial crisis since the Great Depression.

There is, of course, no easy approach to selling a business: no two deals are ever the same. The external environment – from the appetites of potential buyers, to macroeconomic conditions and legal frameworks – are constantly changing and evolving. But over 30 fascinating years of deal-making, there are broader lessons I have learned that I believe stand the test of time.

Start Planning Early

A rushed deal is very rarely an optimal one. While entrepreneurs focus on running and growing their business, exit might – understandably – not be at the forefront of their thinking. But it’s crucial that planning for an exit should begin well before the final decision to make a sale has been made; as much as 36 months beforehand is ideal. Developing strategies to differentiate a business’s offering in the marketplace, expand into the right markets, and build and structure management teams in the right way are all things that take time, but ultimately make the difference when it comes to finding the best possible buyer.

Prepare Thoroughly, by Choosing the Right Advisor

One of the most important early decisions in a sales process is the choice of adviser. There are many factors to consider which depend on the type of deal being sought: the adviser’s industry expertise, their fees, their track record, and more subjective factors such as personal chemistry. Another noteworthy consideration is that many advisers represent both buyers and sellers, which can create potential conflicts of interest. Businesses should be sure that the advice they are receiving is always completely objective.

When an overseas buyer is involved, the stakes for choosing the right adviser are even higher. A genuinely international reach is obviously key; so too is an in-depth understanding of cultural differences, regulatory approval processes, and legal frameworks. Small and ostensibly insignificant details can stall an otherwise perfect deal – the right advisor will take every step to stop this.

Know how to command the highest multiple

Selling a business isn’t just about great negotiating skills. In fact, the bulk of the work should be done before the buyer and seller come to the table. Anticipating the thinking and the needs of potential buyers, and positioning accordingly, is essential to achieving the highest multiple.

Over my three decades at Cavendish, I’ve observed time and time again that the businesses which strike exceptional deals are the ones that carefully dissect how they can provide unique value to an acquirer, and prioritise strengthening in these areas. This might, for example, involve expanding into key international markets, implementing an effective buy and build strategy, or making high quality additions to the management team.

Position for the ‘right’ buyer, but be flexible

What constitutes the ‘right’ deal for a business undergoing a sale largely depends on the objectives and motivations of its owners. If the goal is to make a clean break and extract maximum value from the business, then a trade sale is often the best route. If, on the other hand, the goal is to stay with the business for some period of time, private equity typically offers a better fit. That said, it is important to be flexible. Over the years, I have advised many companies which had a specified exit route in mind but, by keeping their options open, found better avenues they would not otherwise have considered.

Once the right type of buyer has been identified, the next step is to transform the company into a suitable proposition. Trade buyers and private equity buyers often prioritise different priorities in an acquisition. Trade buyers, for example, are likely to be concerned about the potential for creating synergies with their existing businesses – how well do the entities complement one another, and where can their merger generate cost savings and efficiencies? Positioning for these questions can make the difference between a good deal and a great one.

Do not underestimate the importance of due diligence

Due diligence has always been an important part of the deal-making process, but never more than it is today. This is because there has been a flight to quality in M&A in recent years, meaning that buyers will almost invariably identify weaknesses in a business if its management team does not get there first. Under British law, the information a business preparing for sale is required to provide is extensive – tax liabilities, intellectual property, employment contracts and leases. Buyers will have their own demands which may be much more comprehensive still.

Failing at the due diligence stage could put a serious delay in negotiations, significantly prolong proceedings, or, in the worst case, even lead to the termination of the deal. Management teams must devote sufficient time and resources to this area, ensuring their financial and management accounts are as comprehensive and transparent as possible.

Know the cycle

On a final note, my three decades years of deal-making have given me exposure to every type of M&A environment. Today, the value of M&A globally – including in the mid-market – is hitting record highs. During my time at Cavendish, I have experienced the market’s sharp rise in the 1990s, and its precipitous falls in the dotcom and financial crisis eras. Within this bigger narrative, each industry and transaction size bracket have their own stories playing out, often running quite independently to one another. Making a sale when the market is hot is an art as much as a science – but its crucial to securing the best valuation.

Extravagance or Efficient Planning? Private Aviation Charter for Business Travel

Posted on May 30, 2018 | by root

Extravagance or Efficient Planning? Private Aviation Charter for Business Travel

Chris Tofts, CEO, 365 Aviation

Private jet travel has, for a long time, been regarded as the sole domain of the super-rich or cosseted stars who couldn’t bring themselves to travel on commercial flights. But over the past decade that image has slowly been changing thanks to a forward-thinking industry which recognized that private jet travel was poorly understood and many potential clients were missing out on the advantages it has to offer.

Back in the early noughties, before the global financial crisis, big corporations were comfortable owning their own aircraft. But General Motors, Ford and Chrysler flying their senior executives in on company private jets to ask for a government bail out in 2008 was a PR own goal which caused a hugely negative public reaction to the idea of corporate private aviation.

Warren Buffet’s NetJets arguably led the renaissance of the industry. His team foresaw that private jets could be presented as more affordable and accessible through fractional ownership. Others followed suit offering “flying time” by pre-purchasing a number of hours’ flying credit, which proved popular in the US where internal commercial flights are relatively expensive compared with the multitude of low cost European airlines.

Suddenly business travel by private jet became affordable and accessible. We use the term ‘affordable’ loosely because on the face of it private jet travel remains the preserve of the well off. However, corporations are using private charter for senior executives and recognizing that the benefits it offers far outweigh the perceived high cost.

365 Aviation recently commissioned a piece of independent research that explored the lost time spent travelling to, from and within airports. The research partner, Censuswide, polled over 2,000 HNW individuals and found that, on average, travelers spend over three and a half hours in airports pre- and post-flight. Add on the average time travelling to and from the airport (2.76 hours) and that’s a staggering 6.3 hours of wasted time per trip. And that’s before the flight itself, let alone any delays.

According to the Financial Times, the average C-Suite Executive’s hourly pay is £1,000, so when one takes into account lost productivity, suddenly private jet travel doesn’t seem like an extravagance at all, more like efficient planning.

Co-founder, Colin Baker, a finance professional who launched 365 Aviation partially based on his observance of this lost productivity, said “Many delays are outside of the travelers’ control, and if it results in missing meetings or important family occasions, not to mention PA’s time spent rescheduling itineraries, you suddenly realize that it makes sense to pay a small premium to minimize these risks. Ever tightening airport security has exacerbated the situation to the point that it was no longer cost effective to spend the best part of a day trying to get to a one hour meeting to close a deal. Founding the business came out of a determination to prove that private aviation charter could save time for the people whose professions demand a great deal of it.”

Today Baker sees many of his clients using private charter travel to visit multiple destinations in a short period of time. He explains, “A private jet can leave from a closer airport, requiring just 20 minutes to check in, clear security and board, allowing passengers to fly to Milan in the morning, be in Frankfurt for lunch and back to London by mid-afternoon. That’s just not possible if you fly commercial.”

With 136 private airports in the UK alone, most people can be in the air within an hour of leaving their house or office. One Surrey based film executive will only fly from Farnborough as he can get there in a little over 30 minutes from his home and be in Cannes (for the Film Festival) in less than three hours door-to-door.

Business also requires flexibility and when meetings move time or location, private charter companies can react quickly saving time and money. “Efficient private charter companies are a PA’s best friend” says Rosemary Parr, founder of the Global PA Association, which represents tens of thousands of PAs internationally. “When your job is to get the company Chairman from A to B in the most efficient way possible, charter jet companies are a God send to a busy executive assistant. Meetings aren’t always in convenient locations and schedules can change at a moment’s notice. A flexible and knowledgeable charter partner who can have an aircraft on the tarmac in a couple of hours is an essential part of a top flight assistant’s arsenal.”

365 Aviation’s senior charter manager, Patrick Magan, cites complex travel requirements as another reason for choosing private jet charter. This summer 365 Aviation has seen a surge in clients travelling with their dogs, and has supplied specialist packing to transport couture gowns to the Cannes Film Festival. “We’ve transported guns to Scotland for the start of the grouse shooting season; jewellery handcuffed to a security guard to private yachts, and sound equipment for rock concerts.” he adds.

Yet it’s business travel that continues to be the bread and butter of the private charter industry. Whilst the days of the branded corporate jet may be over, companies recognize that it makes commercial sense to fly private. The charter companies are adapting too. Patrick and his team have “branded” private aircraft before, ensuring that corporate colours, brochures and merchandise are in place before clients board the plane.

The commercial airlines have recognized the threat. RyanAir launched a private charter offering last year, adapting one of its Boeing 737s for business travel for up to 60 passengers. It claims to offer the most competitive rate in Europe and is aiming at the group travel market. At the other end of the market Four Seasons has launched a luxuriously appointed branded jet in partnership with TCS World Travel catering for 52 passengers with fully flat beds offering 24-day around the world experiences that wouldn’t be feasible on commercial aircraft.

Encouraging Greater Gender Balance

Posted on May 24, 2018 | by root

Women Better for Property and Construction’s Bottom Line

Niki Fuchs, Managing Director and Co-Founder of Office Space in Town, tells us more about Gender Balance in the Workplace.

Gender equality has become a lively topic in recent months, and rightly so. Despite evidence pointing to the bottom line benefits of gender diversity, a disproportionate number of sectors remain stubbornly male-dominated. One of the worst offenders is the property and construction sector, where women represent around 15 per cent of the work force. An interesting outlier, though, are the flexible and serviced office sectors, which, due to the growth of proptech and entrepreneurialism amongst women, tend to have more balanced gender ratios and are helping to address the balance of the sector as a whole.

There is a lot more to be done, however, as female representation is lacking across all levels, but particularly in senior management, leaving a conspicuous gender pay gap. To improve gender parity, an industry-wide cultural shift needs to occur, driven by those in leadership positions; whether they are men or women.

Women leaders better for property and construction’s bottom line

After surveying 350 large public companies in North America, Latin America and the UK, the global consultancy McKinsey found that businesses in the top quartile for gender diversity were 15 per cent more likely to produce better returns. The report found that, for every 10 per cent improvement in gender diversity, there is a two to four per cent increase in profits. Despite such compelling evidence that gender parity in the workplace is good for performace, the construction and property industries remain stubbornly male biased.

More women are needed in senior positions

It is a shocking fact that, according to diversity agency INvolve, there are more FTSE 100 bosses called David than there are FTSE female CEOs, highlighting, albeit in a light-hearted way, how little progress has been made in bringing diversity to the very top of UK plc. Despite this, UK property and construction plc lags behind even the FTSE 100 in senior gender parity. According to a recent report by recruitment consultancy, Randstad, one in every five board members in construction is a woman while FTSE 100 boards comprise of 28% (1 in 4) female members.

A survey, administered by Women in Property (WIP) and Gapsquare, revealed that out of all the female respondents, only 12 per cent were in a managerial position. Furthermore, according to government figures, the property and construction sector has one of the worst median gender pay gaps at 25 per cent. The same report found that only 21 per cent of women make it into the top quartile of the big property and construction companies. To put this in context, professional roles in finance – another sector that has traditionally been viewed as male-dominated – is approaching a 50:50 gender split and in the public sector, women outnumber men.

In this respect, the property sector seems resistant to change and is perhaps guilty of fostering outmoded beliefs. Half of the industry C-suite executives polled in a survey by WIP and Gapsquare believed that, all things being equal (qualifications, experience and ability), a man would perform better at board level than a woman. Clearly, then, there is a deep-rooted unconscious bias that must be addressed if the industry is to encourage greater gender diversity in the workplace.

One of the reasons for this unequal gender balance is perhaps because the property and construction services have tended to lag behind other industries in adopting flexible working practices. Human resources data shows that women are still more likely to feature in part-time support roles, whereas full-time, managerial positions often remain the domain of men. If flexible working is to become more widespread and accepted, senior leaders within the property industry should start encouraging such practices.

Gender imbalances foster pay gaps

Compounding the problem of gender inequality is the sizable gender pay gap. The recent government initiative to bring attention to the gender pay gap has highlighted some serious issues within multiple sectors. The findings show that three-quarters of large UK businesses pay men more than women, on average, and that there may be even greater disparity when bonuses are taken into account. Perhaps unsurprisingly, one of the biggest offenders is the property and construction sector.

Women as property entrepreneurs

There are some green shoots of optimism; by 2020, women are expected to make up over a quarter of the total property and construction workforce. This rise is in part being driven by an increase of prop-tech, entrepreneurialism and the ‘serviced’ property market. Driven by the need for more flexible working practices, women are opting for a more entrepreneurial path, rather than the traditional corporate route.

The entrepreneurial path often values skills that are attributed to women, such as good communication, empathy and cooperativeness. Consequently there is an emerging group of highly successful female entrepreneurs who are having a significant impact on the property market. An example of this is Mandy St John Davey, now one of the most successful residential property developers and also the current chairperson of WIP, South-Wales branch.

We must expedite change

But more must be done if a real difference is going to be made within the sector. At an industry level, women should support other women to drive equality throughout the workforce. WIP is helping to make this a reality by working with companies and organisations to help create greater gender balance by providing a dynamic forum for the sector whose goal is to challenge the status quo. Furthermore, individual property companies should work together to change the norm and to make it unacceptable for a pay gap to exist.

Research shows that gender equality makes economic sense for the economy as a whole. A McKinsey report found that $12 trillion, or 11 per cent of gross domestic product, could be added to the global GDP by 2025 by advancing women’s equality. Not only is gender inequality a pressing moral and social issue but also a critical economic one. Companies and organisations across every sector should bear in mind that, when it comes to hiring and promoting, the focus should not be about whether a candidate is male or female, but rather about skillset, quality and drive. Those companies and organisations that embrace this at a cultural level will be able to attract and retain the best talent and will be the ones that win in the coming years.

Prestige: A Boot Camp Like No Other

Posted on May 21, 2018 | by root

Prestige: A Boot Camp Like No Other

Prestige Boot Camp, based in Bristol and with venues at stunning locations across Europe, has established itself as the provider of the most intensive health programmes in the region. We profile the firm and explore how Founder and Managing Director Francesca Christian, named Business Woman of the Year 2017 by CEO Monthly Magazine, has helped drive the firm to the success it enjoys today.

Established in 2008, Prestige Boot Camp is Europe’s No. 1 and most successful and established provider of luxury fitness and weight loss boot camps. Recognised for its exceptional results, stunning accommodation, unrivalled service and attention to detail, the firm are delighted to be Europe’s first choice, and the only boot camp of its kind. As such, its reputation for offering unique experiences is second to none.

Thanks to the camp’s exceptional level of service and innovative techniques, women and men of all ages, shapes, experience, and fitness levels come to Prestige Boot Camp from all over the world to achieve great results at the camp’s fitness, weight loss boot camps and juicing retreats.

Led by Iain Reitze, Prestige Boot Camp’s world class British Military Physical Training Instructors aim to win hearts and minds; educate; and empower participants and to make lifestyle changes that last. They will motivate them with high energy, inspiration and humour and plan every day differently so it is challenging yet varied enabling everyone to perform to their individual capabilities. Prestige Boot Camp have an extremely passionate and dedicated team who look after and support every participant right from the
moment they contact them, and throughout their stay with a support network that also continues after they leave via the firm’s online community and after care package. All the planning throughout the week is done for participants so that they can spend their time focused on their own progress.

In just seven days at boot camp participants can lose weight and watch the inches melt away as Prestige Boot Camp’s expert trainers take you through their award-winning programme. The week is packed with fun and energising activities designed to help participants reach their weight loss and fitness goals and provide them with the education and tools to continue a healthy and balanced lifestyle. A typical day might include boxing, circuits, hiking, team games with use of the extensive grounds on site, at nearby beaches or woodland. The course will also enable recruits to sample and benefit from other experiences which may include either, rock climbing, zip wires, abseiling, kayaking, surfing or stand up paddle.

Locations offered include Portugal, Spain, Wales, Devon, Suffolk, Somerset and London’s Hyde Park, giving participants the choice of venue and allowing them to truly make the most out of their experience.

Alongside its boot camp, the firm also provides the Better Body Box, a food delivery service designed with the same skill as the firm’s weight loss boot camps, to provide participants with the right nutrition so that they can achieve the right results. Customers do not need to have enrolled on a fitness boot camp before to enjoy the benefits of Prestige’s acclaimed new diet delivery service. It has been made possible by a collaboration with one of the undoubted leaders in the emerging diet delivery market, Balance Box.

Like many other food delivery services, Better Body Box works on the very simple premise of delivering food direct to the participant’s door; specifically, a delicious and nutritious breakfast, lunch and dinner, plus two snacks, every day. There are two plans to choose from, depending on the size of the participant’s appetite, but the benefits: helping them to get the right nutrients while shedding the pounds, are much the same.

The firm has been driven to its current success by Francesca Christian, the Managing Director and co-owner of Prestige Boot Camp. She has put her background in business and financial skills to good use running operations at Prestige but can also often be found on site ensuring things are running smoothly, managing camps and joining in the activities. Francesca’s outlook on life was massively altered after she completed two weeks at a boot camp and proceeded to lose nearly four stone in 2008. The fantastic friendships she formed with both ladies and trainers motivated her to start up her own boot camp and reward others with the chance to enjoy the same amazing life changing experience.

Ultimately, Prestige Boot Camp offers a range of options designed to meet each individual’s unique requirements and ensure that they leave feeling revitalised and rebooted. Francesca’s hard work and commitment to excellence have helped bring the firm a great deal of success, and moving forward she will continue to innovate and adapt the camp’s offering so that it remains one of the leaders within this constantly expanding market.

Company: Prestige Boot Camp

Contact: Francesca Christian

Address: 10-11 Saville Court, Saville Place, Clifton, Bristol, BS8 4EJ, UK

Phone: 0117 9731213

Website: www.prestigebootcamp.com

Content Marketing And SEO: How Smaller Businesses Can Compete

Posted on May 14, 2018 | by root

James Roberts, Director of Sanctuary Bathrooms, discusses some of the tactics that have improved his brand’s online presence, and explains the risks and challenges small businesses face when adopting similar tactics

Producing engaging content is a great way to improve your brand’s online presence, but many smaller businesses don’t feel they have the resources for it. Although the bigger brands have the tools to drive loads of visitors to their sites, there’s a range of less expensive, time-friendly tactics small businesses can use.

Know your niche, and your audience

Building your brand through content marketing and PR is all about knowing your niche, and knowing your audience. Business owners will be familiar with the concept of a Unique Selling Point (USP): the quality that makes you stand out from your competitors.

What’s yours? What do you offer that nobody else does? Who do you offer it to?

In addition to the knowledge you already have about your customers, there are several tools you can use to find out more specifically about your online audiences.

Google Analytics reveals a huge amount about user behaviour on your site. It tells you, among many other things:

· Which pages were viewed the most

· On average, how long users stayed on each page, on average

· Demographic data about your visitors – age, location, device used, which channel they used to find you

You need this data to know where to focus your efforts, and who to focus on.

Search Engine Optimisation: using content to drive organic search traffic

For many businesses, the most important channel for driving traffic to your website is organic search: a user searches for a term using a search engine, your brand appears, and they click through to your site.

Search Engine Optimisation (SEO) is the process of making your website appear higher in search engines for terms your audience is searching for. Creating content is a key part of SEO.

The first – and one of the most important – parts of creating content for SEO is doing keyword research. This is the process of finding out what people are searching for an creating content to answer the best search queries.

There are a few tools you can use to find out what people are searching for:

· Google Autocomplete: One of the simplest ways to find interesting search terms is through Google itself. Start typing a search term and see what suggestions pop up in the autocomplete box. Searching for “bathroom”, for example – the industry my business is in – returns suggestions like “bathroom ideas”.

· Keyword tools: From Google’s free (if you have an AdWords accounts) KeywordPlanner to the paid-for SEMRush and Ahrefs, there’s a range of tools that can help you find keywords. Among other features, you can use these tools to type in a keyword and get a whole range of related keywords, along with the number of people who search for that term each month.

· Google Search Console (GSC): this tool tells you what search terms brought users to your site through Google. It can be a useful way to find good keywords.

Finding the right keywords is about balancing search volume and competitiveness. There may be some keywords that loads of people search for – “bathrooms”, for example, in my industry – but these are likely to be very competitive. Unless you’re a leader in your industry, you’re unlikely to rank on the first page of search engines.

On the other hand, there will be search terms that drive little volume, and therefore aren’t as competitive. You might be able to rank highly for this term, but the low search volume might not be worth it.

For smaller businesses, the key to finding the right keywords is understanding your USP and your audience. Look into the niches in which you can offer expertise – that’s where you’ll find the questions that you can answer better than anyone else.

Using online pr to build your brand

Another key part of SEO is getting high quality links to your website. One of the best ways to do is through PR and outreach. As well as boosting your search engine rankings, intelligent use of PR is a great way to make your brand more visible.

The biggest businesses in your industry will have the time and money to build huge campaigns and outreach them to national newspapers. For smaller business, this might be unrealistic. A better approach might be to produce lower-key content and outreach it to smaller websites.

Whatever approach you take, the key is not to focus directly on your products. Although your content should be relevant to your brand, you’re trying to tell a story that will interest journalists and bloggers.

You could create visual infographics around topics related to your brand and outreach them to relevant bloggers, or carry out surveys and use the stats to create interesting headlines.

If you want to get links back to your site to improve SEO performance, you need to make sure your outreach targets have a reason to link back. It’s not enough to just send out some interesting stats, you need to have something on your website that improves your target’s story, so they have a genuine incentive to link to you.

You can also use social media to promote this kind of PR content. With a small budget, targeted to the kind of people you know are likely to have an interest in the content you create, you can increase your brand’s online visibility.

Finding the time and expertise

For many small business owners, all this stuff will sound daunting. How do you find the time to do all this work? How can you be sure you’ll get it right if you don’t have any experience doing it? How do you know you’ll get a return on your investment?

These are all valid concerns. For businesses with few, if any, employees focused on digital marketing, there might not be the time or the expertise to do your campaigns justice. But that doesn’t mean you should do half a job. The tactics discussed in this article all require time and expertise; trying to carry them out in those rare quiet moments will inevitably mean it doesn’t get done properly.

Realistically, then, you have two options: you can hire someone to do it or you can outsource it. The benefits of bringing this work in-house is that all the training you provide, and all the valuable lessons learned through trial and error, stay within the company. If you’re successful, and you expand your team, you have someone who can train up the new recruits.

The downside of bringing it in-house is that you face all the usual challenges of recruitment. Finding the right person for a role is even more difficult if you’re not an expert in it yourself. Because of this, outsourcing the work is more practical, at least in the short-to-medium-term. Outsourcing is also less risky if your content and PR efforts fail, because you won’t have an in-house employee you can’t afford to retain.

The best way for small business to compete through content marketing is to start small and build from there. Don’t aim for the biggest search terms and the most extravagant campaigns. Know your audience, know your niche, and focus on the little things that make you stand out. If you make your mark in these areas, and your online visibility grows, you’ll be able to target a broader audience further down the line.

The Home of Innovation

Posted on May 10, 2018 | by root

The Home of Innovation

The Innovation360 Group AB develops world-leading technology for innovation development. We caught up with Founder, Magnus Penker and he told us more about the hub of creativity that is Innovation360 Group, and what key attributes have contributed to its success.

Established in 2015, Innovation360 Group was founded by Magnus Penker and Martin Hultqvist, veterans in the consulting industry who specialised in startups, turn-arounds and successful company sales in Sweden and abroad. Alongside them was innovation expert, Agnes Sävenstedt and Sten Jacobson, who is a specialist in methods and tool development.

Magnus kicked off the discussion by outlining the mission of the firm, and telling us what targets the firm is aiming to reach to consider their mission a success.

“Here at Innovation360 Group, our mission is to strengthen the global innovation capability that’s needed to address humanity’s biggest challenges: food, energy, water, security, global health, education, environment, poverty and space; something we share with our licensed practitioners.

“Therefore, the company’s aim is to help over one million entrepreneurs, companies, executives and scientists all over the world to become worldclass innovators. We intend to do this by providing our unique innovation measurement tool and database, InnoSurvey®, as a free-to-all, digital, AI-based, online service, complemented by an enterprise tool and specialist consultancy services provided by our consultants, as well as
through Licensed Practitioners all over the globe.”

Leading from the front, Magnus encourages his team as well as the Licensed Practitioners scattered all over the world, to work alongside their clients in all aspects of their work, and sets out what aims both his team and the client should aim for in the short-term, medium-term and finally what they can expect in the long-term. He adopts a threehorizon principle, and this is a process that he has instilled in all areas of the company’s work, as Magnus pointed out to us.

“On a daily basis, we advise clients to work in what we call the three horizons. Horizon 1 is short term, focusing on the here and now; Horizon 2 adds more longterm thinking to the process, as it comprises uncertainty and finally; Horizon 3, which is the unknown where you experiment and learn about what you normally do not cope with regularly.

“In our company, we try to live as we preach. Throughout the company we do our best to work with a clear matrix in the daily operations, while simultaneously experimenting in Horizon 2. This is because we want to stay on top of the situation and deliver in our very ambitious goals and vision, as well as expanding the business and keeping our position steadily.”

Alluding to his responsibilities, Magnus oversees the division of responsibilities amongst the management team, and collaborates with his team to deliver a clear strategy, vision and set of goals which are realistic and match the ambition of the company. As well as discussing his main duties, Magnus is also full of praise for his staff.

“A crucial aspect of the success of our company is that we have a fantastic team, composed by individuals that take responsibility for their own tasks. Currently, my main duties are the market expansion to the US, product development and supervision of legal aspects related to the company. I am lucky to work with talented people that in parallel solve important tasks.”

Magnus believes that there are a few key attributes which an individual must possess in order to become successful, but these characteristics must be shared across the whole company so that it can be a success.

“Enabling us to succeed in the industry, I believe that are a few key attributes for success, including persistence, determination, not compromising on long-term goals and being pragmatic in the daily work. As contradictory as it may sound, this combination is necessary and therefore extremely important to involve the whole organisation, while staying aware and focused on the long-term goals.”

Embedded in the company ethos, is the staff’s philosophy that everybody should possess goals which they strive to achieve, while also taking responsibility to deliver on them themselves, and reaching out to the management team members for assistance when it is required. Magnus believes that the company culture is a key contributor to the achievements of Innovation360 Group.

“As part of our culture, we strongly believe in continual encouragement and challenge to assure that the goals are aligned with our overall vision, objectives and strategy. To accomplish this, we meet up frequently, discuss and iron out what kind of goals we should go for.”

In his concluding comments, Magnus discussed the future of the group, and delivered a summary of his hopes for Innovation360 Group. With Magnus continuing to lead from the front, there are no barriers to the company achieving unlimited success.

“Ultimately, in five years I imagine us being the home of innovation, a global hub for everything related to innovation management. As of today, we boast a presence in 28 countries and 200 licensed practitioners that work with us delivering on our vision globally. We expect and want to have 10 thousand people across the globe in five years, working with us, delivering on our high ambitions, by doing that we should reach out to one million people around the world, to make the planet a better place by using innovation management. Through these 10 thousand people and our organisation, this is possible, our aim and hope.”

Company: Innovation360 Group

Contact: Magnus Penker

Address: Olof Palmes Gata 13, 111 37, Stockholm, Sweden

Website: www.innovation360.com

An Innovative Leader Shaping the Future

Posted on May 9, 2018 | by root

An Innovative Leader Shaping the Future

Trilliant was formed with a vision to help energy providers improve energy efficiency, enhance reliability, lower operating costs, increase customer satisfaction, and integrate renewable and distributed energy resources. We profile the firm as well as our CEO of the Year, Andy White, as we explore the secrets behind the unrivalled success of Andy and his company.

Established in 2004, Trilliant has grown to become a connectivity company which is able to provide infrastructure solutions around the world, and is now the global leader in delivering intelligent networks, which enables the transition to smart grid and smart cities for leading energy providers around the world.

Highlighting Trilliant’s versatility and ability to cater for all clients, the firm is able to adapt its offerings and tailor its services to suit each individual client. The company believes that there is not a one size that fits all communications solution, and thus the Trilliant Smart Communications Platform brings seamless integration of a variety of fit for purpose technologies, including multi-tier Mesh, cellular and RPMA. Along with Trilliant’s rich ecosystem of partner applications, their communications platform can simultaneously support the robust needs to connecting grid and distribution assets , smart cities applications and higher volume sensor and endpoints such as smart meters.

Leading from the front is Chairman and CEO, Andy White who joined the company in 2009. With him, Andy brought over 30 years of leadership experience amongst the Utility, Energy, Networks and Communications industries. Before undertaking his role, Andy served as a General Electric (GE) Corporate Officer, and as President & CEO of several GE businesses. Always destined for greatness, Andy began his career with GE in London, United Kingdom in the network communications and controls division.

Boasting an impressive track record, he has held various leadership positions within GE Power Systems and GE Energy, where the breadth and depth of his experience ranged from leading the Asia Services businesses to becoming the General Manager of several service divisions headquartered in the USA. During his tenure at GE, Andy has also led businesses for major infrastructure and communications projects in the America’s, Asia, Europe, Middle East and Africa.

Respected throughout the industry, Andy has served on two university advisory committees and 10 boards. He received his Bachelor of Science degree in Electrical and Electronic Engineering from Bath University, United Kingdom, specialising in Power Electronics.

Possessing a unique skillset, Andy has been able to utilise his previous experience in order to succeed in his role at Trilliant. In his role as Chairman and CEO of Trilliant Networks, Andy is responsible for shaping the strategic vision and subsequently ensuring that the team at Trilliant follow suit. In order to cultivate an atmosphere which enables all members of staff and employees to strive towards achieving the same mission, Andy sets out the vision in a clear, engaging, and exciting way.

Perhaps his most striking ability, is his passion and dedication to forming an innovative and collaborative culture with his employees and partners, while keeping a pulse on performance to drive results for their stakeholders. He believes in working closely with employees and customers to drive excellence and innovation within the company, as a result, employees do the same with clients. Transforming the company through a number of acquisitions and forward-thinking guidance, Andy repositioned the strategy and organisation into what it is today, a high growth company in the Industrial Internet of Things space.

Adopting an approach, Andy’s team is given the freedom to fully maximise their potential. He believes that being innovative and working with each other, as well as being committed to providing the best results for clients will bring unlimited success for Trilliant.

“Here at Trilliant, we are a culture of innovation and collaboration. We are committed to our customers and cutting-edge solutions. Additionally, we will continue to innovate and partner with our utility and energy customers to deliver true benefits of smart energy to their operations, customers and society.”

In line with the family culture that has developed at Trilliant, Andy believes that the best piece of advice he’s ever received was, not to take yourself too seriously, work hard, and have fun. He has lived on three continents, in eight countries and in 10 US states. Throughout his career he has surrounded himself with team players that have a can-do attitude, and who are willing to roll their sleeves up to get the job done.

Significantly, Andy has been able ensure that there is an element of freedom amongst staff which enables them to provide the best service possible. Providing employees with this flexibility has enabled the team to adapt and cater to the needs of an everchanging industry.

Andy’s influence has resulted in Trilliant embarking on a journey which has seen it transform from a single network and single application solution provider to an industry leading, global communications solutions company. The team at Trilliant believes that the next generation of smart grid and smart city solutions must be built on an open and secure network that will allow the frictionless exchange of data. As such, this approach allows its advanced technologies to work with virtually any system, anywhere in the world, providing a secure, powerful source of connectivity and data now and for generations to come.

Furthermore, Andy manages his staff with a ‘we, not me’ mentality. He is wide open, moves quickly, is demanding, and a fun-loving team player. Also, he believes that productivity and teamwork is friendship, and this belief is embedded across the company culture.

Essentially, believing in an environment in which everyone works together, Andy also attributes a lot of his colleagues to his success. He believes that in order to succeed as a CEO, people should surround themselves with a team that is passionate and excited about the future of your organisation. Adopting a mantra of ‘have fun, work hard, have a can-do attitude and never ask somebody to do something you aren’t willing to take on yourself’, has seen Andy influence and have an impact on a vast array of people in the technology industry.

Every CEO should read “Straight from the Gut,” by Jack Welch. Amongst the team at Trilliant, staff are passionate about doing their best work, feel accountable for their actions and work together to provide an unrivalled service. The energetic nature buzzing through the team is something to behold and is a key reason why Trilliant is achieving the success it is.

Moreover, Trilliant invests in innovation while tackling every project with urgency, so that it can make customers futureready through innovative, open and secure software and communications solutions. The teams are passionate about finding the right solution for its customers on a 24/7/365.

Looking ahead, for Trilliant, there is widespread optimism amongst the team that there is a bright future ahead, especially under the stewardship of Andy. As Trilliant continues its aggressive growth trajectory to a brighter future, the firm wants to take every opportunity to propel itself to exciting, new places. Andy and his team want all of the company’s employees, customers and prospects to feel the excitement, innovation, and drive with every interaction.

Moving forward, the energy and utilities industry is ever changing and dynamic. Utilities face a variety of market and regulatory factors that force adaptation at a rapid pace. The very business model of energy supply and retail is being challenged with an array of initiatives, such as renewables and distributed generation all to be provided with a new focus on consumer orientated services.

The next generation of smart grid and smart cities solutions must be built on an open and secure network that will allow the frictionless exchange of data. This architecture will propel the energy industry to a bright future.

Ultimately, Trilliant is honoured to work with leading utilities and cities around the world who collectively serve more than 100 million customers, nearly 500 million end users under the reach of its platform in 17 different countries, including those in North America and Europe, along with developing countries in Asia Pacific and Latin America. Being at the peak of its success, Trilliant is heading towards explosive growth. With locations in California, Kuala Lumpur, London, Montreal, Singapore and Toronto, the company recently relocated to a new global headquarters in Raleigh, North Carolina to support its worldwide operations and growth plan.

Construction of the new headquarters was completed in August of 2017 and features an open and collaborative environment with research and development labs and a state-ofthe-art customer demonstration centre. With Andy at the helm, Trilliant Networks has a very exciting future ahead.

Company: Trilliant Networks Inc

Address: 401 Harrison Oaks Blvd, Suite 300, Cary, NC, 27513, USA

Phone: 001 919 495 6111

Website: www.trilliant.com

Udi Meirav: The CEO Physicist on an Air Quality Mission

Posted on May 8, 2018 | by root

Udi Meirav: The CEO Physicist on an Air Quality Mission

enVerid is committed to developing leading products that deliver energy savings, while providing healthier indoor air quality (IAQ) worldwide. CEO and Founder, Udi Meirav provides us with his thoughts on his own trajectory and that of his company.

My company, enVerid Systems, is a technological leader in energy efficiency for buildings and, more broadly, what we call Air Care, which is an emerging industry. Our products are spearheading a new vision for how to best provide superior indoor air quality for building occupants, while reducing the enormous waste of energy and hardware that is typical of traditional HVAC systems. Back in 2010, I founded this company with my close friend and business partner, Dr. Israel Biran. Now, I feel as though we are punching way above our weight, in terms of the impact we are having on the industry.

A start-up CEO has many jobs, some of which are things only the CEO can do, others are things the CEO must participate in to maximise the company’s chances of success. I set the agenda and shaped the strategy for the company. Additionally, I am directly responsible for raising capital and communicating with my investors. Of course, it is on me to find and hire key team members, as well as keeping everybody accountable, focused and motivated.

Any CEO worth their salt must make it their priority to engage with customers, channels and key business partners. Plus, as the founder and technical pioneer, I still play a key role in the evolution of our technology and our products, which is the lifeblood of our company.

My career path has been ‘unorthodox’, so to speak. I served in the military for four years, then earned a PhD in Physics (at MIT) and started a career as a scientist, doing research in exotic semiconductor physics. However, I lacked the patience to be a scientist, and eventually opted to turn my impatience into an entrepreneurial asset. Nevertheless, my physics education has been invaluable throughout my career. Not only because of the knowledge and intellectual toolkit I acquired, but also because physicists are typically inculcated with a mindset that no topic is off limits, and that any problem can be taken a shot at. Thus, I have been involved in various capacities in areas ranging from LEDs to digital health, manufacturing and intellectual property. Excitingly, I am now leading a small team aiming to upend some key tenets of the world of HVAC.

Generally, I would say that my style is very informal. I genuinely like my employees and care about them. It is important for a CEO to get into the details, but it is also my view that a manager that is too busy and overscheduled is not a good manager. As such, you must leave time for yourself to think, time for others to reach you, time for the unexpected and for the non-urgent. This is one of the most important pieces of advice I can provide to young managers and CEOs.

Culture is an amazing thing, as it forms in a young company, and is exceptionally hard to change once it forms. The CEO in a smaller company, has several tools at their disposal to forge culture. One of them is hiring, and I have always insisted that I meet every candidate before they are hired, no matter how junior. This is less about screening or selection of candidates, than it is about messaging to the entire company that it matters deeply to me who is joining our company. Additionally, it is an opportunity for me to start a first-name-basis relationship and a chance to share my vision and expectations.

Beyond hiring, you try to set example by the little things, how you speak, how you dress, how you travel, when you show up, which privileges you take and which you do not. Another important tool is having regular all-hands meetings, which I like to do monthly – not always easy, especially in companies that are geographically dispersed. More generally, geographical dispersion is a major impediment to managing culture in a proactive fashion. Throughout my career, I have had better success in shaping culture when my company was in a single location. This has been an important lesson for me, as many business considerations drive companies to have geographical spread and remote employees.

Moving forwards, enVerid Systems has the potential to grow into a great company, one that makes a big difference. You know, there is nothing more important to life than air, not even water or energy. Let’s be clear, air quality first and foremost is indoor air quality since we spend 90% of our time indoors. Like so many things, we used to take air for granted until we could no longer do so. Developing the technological answers to provide good air to people all over the world is a great cause – and can become a very large business, to boot. All very exciting, because I believe enVerid is uniquely positioned to bring to the world the best technological solutions for air quality.

Company: enVerid

Address: 102 2nd Avenue, Needham, Massachusetts, 02494, USA

Phone: 001 617 795 4000

Website: www.enverid.com

The Essential Pillars of Tomorrow’s Europe

Posted on May 8, 2018 | by root

The Essential Pillars of Tomorrow’s Europe

Cooperation and collaboration provide the basis for business success says Frédéric Durand, CEO and founder of Diabolocom (https://www.diabolocom.com/).

The value and potential of the European market

In the face of a fragmented European market, American and Asian players derive their power from huge domestic markets whilst also attracting investments from major European groups. While European bodies are aware of the problem, they are struggling to reach the same potential in their own market. The only solution for Europe to succeed on such a grand scale is to build on cooperation and collaboration.

Europe does have considerable technological advantages. The European Union publishes the largest share of scientific publications in the world but continues to fall behind in many areas including energy, food, health, climate and technology. Difficulty exists in establishing a common policy, harmonising research ambitions and exceeding binding regulatory frameworks. In this context, the risk of a technological relegation remains quite conceivable, in an economy penalised by high production costs. However, the example of French company Airbus is proof of Europe’s ability to innovate. The pooling of European expertise in aeronautics began in 1965, when Air France, British Airways and Lufthansa decided to join forces to design aircraft which would develop the European air network. In thirty years, Airbus has established itself as the world leader in the sector succeeding in highlighting European know-how and becoming a legitimate object of pride in Europe. Airbus has exceeded its main competitor, Boeing now claiming 56.6% of the civil aviation market share. China Aircraft Leasing Company (CALC) recently announced an agreement with Airbus worth 4.5 billion euros for the acquisition of fifty medium-haul A320 NEO aircraft and Emirates have placed an order of 36 A380 aircraft giving Airbus “visibility for at least the next ten years”, according to Tom Enders, the group’s CEO.

Keeping up with the global technology race

While it is difficult to capitalise on a Western strategy in the light of American power, a European strategy is possible, via a logic of punctual cooperation that would enable the continent to maintain itself in the technological world race. Blockchain, artificial intelligence, biotechnology, drones, cyber security, Cloud are just some of the domains already shaping the future of mankind. However, according to a Bloomberg survey published in 2011, only seven of the top 100 high-tech companies were based in Europe. The Financial Times points out that eight of the largest European companies combined equates to just 10% of Facebook or 6% of Google. The same is true if compared to Asian powers like Baidu, Alibaba or Tencent Holdings with WeChat.

Despite its undeniable strengths, Europe suffers from its greatest richness – its diversity. Every company is born to a local market that must be conquered before tackling neighbouring countries.

Building a framework to foster talent outbreaks

Europe must therefore improve its attractiveness and harmonise the research and development sectors in order to move in the same direction.

There is an urgent need to manage the fragmentation of Europe by ensuring the construction of a framework conducive to the emergence of talents and a perennial innovation. A first step would be to relax the regulatory and fiscal constraints that sometimes cripple the international growth of businesses. The arrival in 2018 of the GDPR Act (General Data Protection Regulation) is an example of Europe’s obsession with regulation. This means, in real terms, further increasing the steps to create a company or to establish foreign entities in Europe, where they are facilitated by the greater flexibility of the American and Asian regulations.

For Europe to fight on equal terms, the construction of a new framework must also take account of Europe’s cultural mistrust of new technologies. As a FIFG survey from 2017 points out, 64% of the French say they are “worried” about the development of artificial intelligence. The Americans and Asians do not seem to share this apprehension, or at least to a much lesser extent: they know that those who control artificial intelligence will have their eyes on the education, health, banking and finance of tomorrow. The digital industry has an impact on all sectors and industries and Governments need to become aware of it to position European the world stage.

France – Leading by example?

With its thousands of researchers, its inventors of the digital world such as INRIA and its biotechnology groups such as Eurofins Scientific, France ranks among the first European powers to be able to contribute to this world market. The Fintech players, for example, represent more than one million jobs in France, or 4% of its GDP. France remains the leading European country for the use of the Internet in banking services. Germany and England also have their own thriving Fintech hubs.

In the face of the more centralised networks of global giants, the time has come for concentration and cooperation, especially between universities and businesses. To develop and to innovate, the European Union must continue the path which is most successful and which is at the origin of its creation: that of collaboration. In a diverse and multi-cultural continent, businesses must create and work to common principles if they are to compete with other world markets. It is on this condition that Europe will be able to regain its technological leadership.

Marketing Attribution Comes Of Age

Posted on May 2, 2018 | by root

Marketing Attribution Comes Of Age

Ian Harris is the founder and CEO of Search Laboratory, an award-winning digital marketing agency with 150 staff based in Leeds, London and New York. He tells us how Marketing Attribution has come of Age.

The old adage of “only 50% of my marketing spend works, I just don’t know which 50%’ has been defunct for some time. Tracking of digital marketing activity has been part of the landscape since the start of digital and each channel, be it Facebook, Google AdWords, or online display advertising, have built-in tracking to determine who has seen the ad and then gone on to convert into a paying customer.

Marketers then faced a different problem. Each of these channels claims credit for a conversion, but in most cases, the customer touched multiple channels before they converted. They may see a Facebook ad, then later perform a Google search and click on a PPC ad, then later search for the company directly and click on an organic search link. Each channel may claim that conversion. Alternatively, we can apply some kind of logic, such as ‘last click gets it’ to make sure we are not double counting.

However, this puts us back to the bad old days of not really knowing which parts of that user-journey had what level of influence on the final purchase decision. Would the person have ordered anyway if they hadn’t seen the Facebook ad?

This conundrum is called attribution modelling and it is the science of assigning credit to the marketing touchpoints that led to your customer making a purchase.

It has baffled digital marketers for years, and all sorts of models have been developed to try to give credit to each touchpoint such as ‘linear’, where each touchpoint gets an equal share of the credit, to ‘U shaped’ models that overweight the first and last touchpoints, and many more besides. All of these models are flawed because they are essentially guesswork.

The reason attribution modelling is so critical though is that, if you get it right and you know the exact effect of every touchpoint, you can spend your marketing pounds optimally. You will minimise waste and beat your competitors.

No More Excuses

The great news is that the world of attribution modelling has come of age so there is no reason to continue applying these arbitrary models, or indeed operating on a ‘last click gets it’ basis. This change is largely due to two significant advances in technology:

1. Analytics tracking has got much more advanced. It is now possible to track all touchpoints within a single analytics platform. It is possible to track when a user views an online ad but doesn’t click through to the website. It is even possible to track across different devices, so if a user views an ad on a phone, performs a search on a tablet, then completes the purchase on a laptop, these touchpoints can be joined together to form a single journey.

2. Advanced data driven attribution modelling systems are becoming accessible to everyone. Data driven attribution is, in short, complex statistical modelling that analyses all user journeys and then calculates the contribution of each touchpoint. It does this by analysing thousands of journeys with and without certain marketing touchpoints and comparing them statistically to determine the probability of a conversion with and without that touchpoint. It is complex maths, but it is now built in to Google Analytics 360 (the paid version of Google Analytics), Google AdWords and other media purchasing platforms. Google are also releasing purpose-built platforms to do this modelling called Google Attribution (a free tool) and Google Attribution 360 (the paid version, with more features and forecasting capabilities).

Data driven attribution requires a lot of data, so if you have a small website with low visitor numbers and only a few conversions it is probably not right for you. If you do have the volume though, these two technological advances mean that you must make sure your marketing teams are implementing data driven attribution or laying plans to move that way very shortly.

There is no longer any excuse for guesswork in digital marketing. Data driven attribution will enable you to spend optimally and give you the best chance of beating your competitors.

Promoting Your Brand: How Should You Describe Yourself?

Posted on May 2, 2018 | by root

Promoting Your Brand: How Should You Describe Yourself?

Jim Adler, Founder of ADLER Manufacturing Limited provides his opinion on the best way to spread your brand.

Advertising your brand has evolved into a 24-hour challenge. The increased consumption of social media and video content means there are more ways to connect with potential customers than ever before. However, all those opportunities can be lost if you don’t get the fundamentals right.

If your company doesn’t have a clear tone of voice, you run the risk of promoting your business differently across different platforms. You need one, united way of describing your business so that customers will remember you when they need to make a purchase.

Establishing Your Tone of Voice

Everyone wants to stand out from the crowd, though this shouldn’t become detrimental to how your company promotes itself. Customers need to build trust and loyalty with your brand before they feel confident buying from you. This can be nurtured by carefully choosing your brand’s tone of voice. It should be:

Understanding

Show that you understand your target audience by making the problems they face emotional focal points of your promotional campaigns. If you’re an internet service provider, your customers need fast, reliable connections to ensure their streaming demands are met and they aren’t landed with unexpected data bills. If you’re a mattress company, your customers are looking for comfort and long-lasting products.

Many young companies claim to be ‘disruptors’ in their industry and they do so because they thoroughly understand what their customers desire. They then position their promotional material (and, by extension, their products or services) as problem solvers.

Proven

Social proof is essential to building trust with your customers. You can rant and rave about the impact your company is going to make, but without hard evidence, you’ll be lucky to find customers who believe you. Thankfully, there’s now a wealth of data-gathering and reporting technology to help you gather the social proof you need to back up your claims.

Gather testimonies from your most prominent clients and customers, make any press coverage you gain clearly visible on your website and let everyone know about any industry awards your business is nominated for. After all, you can’t call yourself a five-star company without the reviews to back it up.

Realistic

The public has gotten better at knowing when a business is genuinely passionate about something, and when they are simply trying to get some attention. Don’t make grandiose claims about your company as you’ll be seen as clichéd and dishonest. Speak on the same level as your target audience and always appear as genuine as possible.

This doesn’t mean you should scale back your ambitions – you can still aim to dominate your market. You simply need to avoid biting off more than you can chew. If you’re an up-and-coming small or medium enterprise (SME), don’t claim to be an ‘industry-leading’ business. Likewise, if you’re promoting yourself as an eco-friendly business, ensure nothing about your products contradicts the message you’re sending out.

Choosing the Right Words

Now you know what to say, it’s time to choose the words that will help you say it. We recently asked a number of start-up founders to rank a variety of promotional words. Which can help you attract customers? Which might be driving them away?

The words ‘innovative’ and ‘unique’ were among the best-ranked. They distinguish your company from your competition without being hyperbolic. ‘Game-changing’ and ‘visionary’, on the other hand, should be avoided, because they’re clichés.

Words that demand supporting evidence scored well, such as ‘ethical’, ‘qualified’, and ‘recommended’. These will attract new customers, as long as you can steer them towards social proof. If you say you’re ‘recommended’, ensure customers can easily find your most notable recommendations. The same goes for ‘qualified’ – if you don’t let people know what qualifications these are, they won’t have the confidence to buy from you.

While your tone of voice should be realistic, words such as ‘well-rounded’ are considered dull. If you present yourself as a jack of all trades, you’re also coming across as a master of none. Customers should know you as the solution to a specific problem. They won’t get this impression if you promote yourself with imprecise language.

‘Strategic’ was met with similar distaste in our research. It means something different to everyone, and it’s not measurable. ‘Adaptable’ and ‘detailed’ may seem like positive words, but they, too, are vague concepts that don’t teach potential customers about your brand. On the other hand, ‘efficient’ implies cost-effectiveness and simplicity, while ‘reliable’ suggests consistency.

Implementing Changes

Changing how your company describes and promotes itself when you’re already established can seem like a risky move: you may already have print advertisements and online ads running. But the rewards of relaunching your tone of voice can far outweigh the risks.

Review your internal documents to see if you can make your branding clearer. A-B test ads with different phrasing to see which drive more engagement. Don’t be afraid to ask your customer or client base for their opinion, either. Every change you make is to improve the service or product they receive, and their opinions are, ultimately, what drives your business.

Other changes may take longer to implement, but you will see the positive effects in good time. You cannot promote yourself as ‘ethical’ unless you have evidence that you take an ethical approach, but customers will appreciate your efforts if they’re genuine. If you’re looking to promote yourself as a ‘qualified’ company, you’ll have to apply for assessment material, so you can earn industry qualifications. It will be your responsibility to renew these qualifications if they expire, and you’ll need to pass on these skills to relevant employees.

Advertising your business is about constantly refining your brand image. As your business grows, products and services change, and more customers learn about you, you should always scrutinise how you promote yourself and look for areas of improvement.

ILG Ltd Launches new ‘a la carte’ Business Model for Franchisees

Posted on May 1, 2018 | by root

ILG Ltd Launches new ‘a la carte’ Business Model for Franchisees

Founded in 2000 by businessman Richard Mosconi, ILG Ltd is the parent company of Il Gusto, an established retailer selling an array of quality oils, balsamic vinegars, liqueurs, exclusive spirits and gifts. The Il Gusto brand provides a direct link from producer to consumer and notably sells most produce direct from the barrel.

With five UK based company-owned Il Gusto shops and three franchise sites, which have been open for over 10 years, Il Gusto is continuing its expansion worldwide. Following its first successful test in Centro Oberhausen, Germany last Christmas, ILG has also signed a master franchise in the Middle East with an opening in Doha, Qatar in May 2018 with more UK outlets to be opened this year. The concept was opened to franchise development options in UK in 2005 and ILG ltd has now researched and secured 30 prime locations across the UK for franchisees to select from with a ‘ready- to-go’ business model.

In 2016, ILG Ltd launched its second business model, Cabaia for summer and winter, a personalised accessories brand offering customisable hats, high quality flip flops and socks. The brand offers premium bobble hats and flip flops – each hat comes accompanied by three contrasting pompoms, which can be clipped on and taken off as desired, while the premium flip flops have interchangeable straps and are fun, coloured and customisable.

With nearly 50% percentage of business undertaken during Christmas annually, Mosconi has now created a seasonal approach to this model – the ‘a la carte’ concept. This concept offers franchisees the flexibility to work for a period of three to seven months per annum, mainly during the highly profitable summer and pre- Christmas periods – with a focus on ‘pop up’ shops and kiosks in high traffic malls and department stores.

This offers franchisees the ability to maximise profits while minimising costs, with the unique concept also endeavouring to provide further economies of scale for franchisees through reduced logistic costs, staff optimisation costs, improved rent and cross selling, all of which should ultimately result in increased turnover and profit.

With both brands ideally suited to seasonal shopping and Christmas gifting (franchisees can choose to operate either one or both models), it makes sense for franchisees to make the most of the opportunity to invest in a business opportunity geared towards a commercially valuable time frame, receiving the same level of training and support that a full-time franchisee would but as an ‘a la carte’ franchisee. This ‘easy franchise’ model is based on no entry fee, no royalty, low investment (less than 15K), and a high profit margin (52.5% gross margin)

This innovative business model echoes modern demand for flexible working styles, giving franchisees the freedom to work part time across the year. To help franchisees, ILG Ltd research and secure prime locations across the UK for them to select from. Leases are then signed directly with ILG Ltd and full training is provided for each team, streamlining the process from start to finish for franchisees.

Prior to launching the new model to market, Mosconi undertook a successful trial in Newcastle in Q4 2016. During Christmas 2017, ILG operated nine pop up kiosks in the five cities of Manchester, Newcastle, Cardiff, Glasgow and Nottingham, all of which ran successfully, with the Glasgow kiosk already running as a franchise. ILG is launching at least 20 pop up kiosks in major cities during 2018 (please see the list in notes) with the new kiosks all designed to be run on a franchise basis.

The ambition from ILG is to see successful franchisees extend from running one pop up to managing a series of others in the same region, avoiding fragmentation and cannibalisation as the franchisee’s owned business grows. Mosconi has deliberately focused on creating a franchise template based on simplicity of set up to encourage regional expansion, encouraging growth with ease.

“I think this concept is very much of the time” said Mosconi. “For many people, the opportunity to work profitably on a basis that is effectively part time is highly attractive. Seasonality and personalisation are two key trends that support the potential success of any franchisee with a relatively low level of investment.”