Category Archives: Starting a business

Why I love LMEDAC (even though most people can’t say it)

When doctors learn a new procedure or product, they train on plastic or computer simulators, and/or actual live patients (who often don’t realize it). This causes unnecessary harm and suffering, and surgical errors cost the NHS billions.

This of course wasn’t a problem when few innovations came through, but today it has doubled from just 5 years ago. Patients are injured and even killed, because learning curves aren’t completed before going into live surgery (including children).

We train doctors to be better surgeons, by providing donated cadaveric tissue instead of training on live patients.

Our company’s potential is enormous, but our topic is emotional and sensitive. Guidance end expert advise will give us a higher chance of getting this right, and if we do, we will all benefit: for every surgeon we train, the improved outcomes impacts every patient they will ever operate on.

Our work is threefold:

Policy – to change guidelines

Funding – to give doctors the funds and time off to train

Availability – increase awareness of cadaver donations (as opposed to just organ donation, which most have heard of).

For us, our work really DO make a difference between life and death. We are passionate about our vision, and hope you will be too.

(and it is pronounced [ell-med-ack] )

(and you can read more about LMEDAC here)

(and you can donate your body here)

Why leaders with egos are bad for business

Here is what a leader with a big ego will do:

  1. Being defensive. (Early sign: Defending ideas. Ultimately turns into becoming defensive.)
  2. Comparing to others. If you continually compare yourself to others, you will actually become less competitive. Too inward focusing!
  3. Seeking  acceptance to justify your ego needs. You crave respect and recognition from others, which eventually interferes with your success.
  4. Show off: You make a point of showcasing your brilliance.
  5. You think you have all the answers.
  6. Reject advice. Not smart.
  7. Can’t admit to being wrong. Ever pushed an idea through, even though you had that sinking feeling in your gut? Cut your loss and regroup instead. Only weak leaders have a hard time doing this.

None of this will make your business stronger, bigger or healthier, and none if this will foster good leaders around you.

Got a big ego? I suggest you send it on holiday for a few weeks and see how you get on without it. You just may be surprised.

I’ve yet to meet anyone complaining someone’s ego is too small.

“Whaddaya mean, it ain’t personal?!!!”

Oh yes, it is.

Me starting a company is personal. VERY personal. I put my career into this, my skill, my talent, my goodwill, my credibility. I have used every contact I have, every favour I was owed and every connection I could think of. I have convinced people I CAN DO THIS, despite their lack of belief, their concern for my family, or their worry about my future.

I have had talks with every employee coming onboard, convincing them that this is THE PLACE TO BE, we are going places, we will be a company to grow and develop in.

So if you for even a second think that a startup or an established company isn’t PERSONAL to the founder and owner, think again.

Every single record on Companies House is a manifest of a dream, a vision, an act of bravery. It is a rebel act against facts and statistics, and a streak of both genius and crazy.

You may not like what we do. You may not even care. But know this: for EVERY company out there, there is at least ONE person for whom it is personal.

Very, very personal.

Tough times hit hard: 5 things that may help.

Brexit, economic downturn, lack of funding, new regulations and changing personal circumstances  are all events that can rock the foundation of your startup business. Making it through hard times requires a steel determination and some serious grit. However, these days I think we need more than just fighting spirit. Here are some thoughts on what else to do when tough times hit.

Cut Carefully

I really don’t like this cutting, because I think one should always be frugal with money. In addition, for small and growing business, cost-cutting needs to be implemented with the precision of a surgeon’s scalpel. Cut too deep and your business will never recover. Cut too shallow and cash flow problems could force you to the back of the unemployment line. Exercise care and judgment in determining what and where to cut and by how much. And keep monitoring the impact.

Use Low-Budget Marketing

When recessions and other difficult times hit, the marketing function of a business is the first to get cut. With less advertising and marketing, the funnel of incoming prospects is reduced creating even more revenue decreases and setting up a vicious cycle.

The key to salvage any business in hard times is NOT to reduce your marketing activities but to REPLACE them with  Low-budget marketing ( include tactics such as PR, networking, public speaking, online marketing and more.) If you’re already doing that, then figure out how you can do more, through new channels.

Invest your way out?

Are there others feeling the pinch? Can you buy yourself some growth, with efficiencies to be made through scaling operations?

Customer. Customer. Customer.

In good times, business comes easy. Your sales pitch or marketing message may be less effective but will still get results. Surviving hard times requires going back full circle to the fundamentals: Keep it simple, and give your customers what they want and need. Make sure EVERY customer is happy, because you certainly can’t afford a single unhappy one.

Forwards!!

It’s easy to fall into the trap of replaying the situation that got you here today. If you had a failed partnership, replaying your mistakes is a mistake. Research published in the Journal of Personality and Social Psychology by Lyubomirsky, Sousa, et al reveals analysis occurring during talking or writing is beneficial in difficult times while replaying negative events is detrimental.

There is a great book called “What got your here won’t get you there”, and that phrase is a great reminder of the need to pause, take stock, realign and move forward.
Go win. If it was EASY, ANYBODY could’ve done it already.

Gut Says YES, Brain Says NO….!??

If you’re like me, you often find yourself with two options, both appealing for your young startup: one risky, the other is safer.

The risky option promise big growth, great opportunities and fast revenue. Even though you know it’s more than you can take on, you leap. Your heart is shouting a clear Yes, telling you how great it will be and how proud it will make you. Shouting No (almost) as loudly is your sensible and cautious head, which instructs you to slow down and think about it some more.

People around you (especially as you start up) will likely tell you to “listen to your heart,” and “believe in yourself”.  Oprah Winfrey (link is external), too, suggests you follow your emotional inclinations rather than those logic would suggest. But is that really good advice? Think back on the times when you did follow your heart. How did it work out?

Don’t trust your own memory!

Unfortunately, we tend to be bad statisticians when it comes to reviewing our own prior experiences. Research on reminiscence shows that we tend to remember the distinctive events in our lives, particularly those that were pleasant. For most people, even traumatic memories tend to fade with time (hello childbirth!). As a result, we’re almost programmed to go with our heart because we favour and remember the occasions when it provided correct guidance.

Go rational or go home

Your rational decision-making processes probably have a pretty good track record. You just wont remember as much of it: when you followed logic, it just wasn’t as memorable. It’s also possible that when reason prevailed, it told you not to do something; therefore, you have less to remember.

But guess what? All that being said: following your instinct sounds so much more fun.

Decision made. (As I was typing this I was debating with myself if I should follow the logical approach, or follow my heart about who to hire for our next team member. I’ve just clarified for myself that I should trust my gut. )

 

6 things that don’t work well for pre-entrepreneurs in corporates…

I know there are a couple of people who might be frowning as they read this post, and for that I am truly sorry. It isn’t personal.

I am often asked if it was scary to take the leap to become a business owner, and I am always slightly surprised by that questions. It wasn’t scary at all. To me it is a very natural state, as I grew up in an entrepreneurial family, where problem solving was paramount to everyday life. When I think back now, corporate life was the scariest out of the two!

Corporate Misfit?

Perhaps that is why I never really felt like I fit in into corporate life — when your fundamental aim is to solve the bigger problem, the following 6 thing don’t work well at all:

  1. silos
  2. red tape
  3. multi lateral politics
  4. Staying in your lane
  5. “It’s just a job” attitude
  6. Personal positioning

Several of the above points is of course things that a lot of great leaders in the corporate world is trying to counteract. They understand fully how it holds people back, stifles innovation and slow down growth. (So those of you who are now frowning: remember, it isn’t personal!)

Is “just do it” the only solution?

Is there a scenario where we can continue to encourage more entrepreneurship in the corporate world? Or is it simply not possible, and the budding entrepreneurs out there should just take the leap and get going, because their profile will never be truly appreciated in the corporate environment anyway?

 

How Your Leadership Affect Your Company’s Culture

Every organization has a culture. For some it is intentional and for some, it just is what it is.
When I think of culture, I think of how the world sees my organization. I also think of how the people inside the enterprise treat their work and the people they engage. A formal definition of culture is this: Organizational culture is the guiding operating system by which people interact and get things done.

I have always been very aware of culture. I am sensitive to the unspoken word, and how people feel has always been very important to me.  Despite this, I have in the past found myself employed in companies I didn’t fit into at all. I didn’t like the people that much and I certainly didn’t have fun. With my own companies, I decided that I didn’t want that to happen again.

For me, culture comes from these 4 things:
1. Strong leadership
It takes work to define the culture elements and a continuous process to keep the company operating by them.
Leaders are responsible for defining the elements of culture and the work to ensure that the company is leading by the principles that shape the organization.
2. Mission
The mission is the point of the organization. Every organization has a purpose. The reason “why the organization exists.” Leaders define how to take that purpose and make it bigger. It is about the impact on the community and the world. It can never be just to make money. Mission guides the future you are creating and how you intend to contribute to it.
As an example, London Medical Education Academy’s Mission is to “Make doctors better surgeons without harming patients during training by using cadaveric tissue samples for surgical skills labs.”
3. Vision
The day-to-day experience is the vision of the company. Vision paints a picture of what the organization looks like over a set time frame. JUNE MEDICAL uses a 2-year vision as part of our culture to frame the experience for each employee.
Vision tells the story of how the organization will look as it is in service to the mission.
4. Values
The values are guiding principles of the organization. Values become the tool by which each employee does their work and interacts with the people that come in contact with the company. It tells us WHO we are and HOW we are.

For my companies the values become the guiding principles.
Values become a central part of the company’s unspoken conversations. The key point is to make sure you are using values that really matter to the company, mission and vision of the organization.

One word of warning though….: Don’t put values on the wall, unless your values are visible in your work each and every day.

Unless you are authentic in your leadership, no Mission/Vision or Value statement in the world can help you build a truly winning team.