Tag Archives: entrepreneur

GUEST BLOG: Ice Skater Louise Walden-Edwards talks about making ‘A True Champion’…

After enjoying reading Louise’s previous guest blog post, I asked her to write for me again.  This time after a conversation about the responsibilities we assumes as leaders.  Here is what she has to say…

Who does it take to make a true champion?            

When a sprinter is the first past the finish line or a tennis player scores the winning point of game-set-match or even an ice skater receives the championship winning score, it is the athlete that receives the applause, the medals and the glory.  It is the athlete that gets the credit, the prize money and their national anthem played on the top of the podium. 

“What some may fail to appreciate is what it has actually taken or how many people have in fact contributed to the success of the winning individual(s).” 

My own competitive sporting success, over twenty years took ten ice skating coaches, seven dance teachers, two strength & conditioning coaches, three physiotherapists, one sports specific doctor, two unconditionally supportive parents, one patient sibling, a support network of numerous lifelong friends & family members, four ice skating partners, many doubters, hundreds of dedicated fans and yet more people along the way that inspired me more than I can credit. Unfortunately, in sport there simply isn’t enough time or space on the top of the rostrum for all those people to publicly share that moment of attention in a victory. 

Now my competitive sporting career is over and I move through a new phase in my life, I can intelligently rationalise the people involved in my success became part of the team for their own reasons.  Through a very cold perspective, the professionals in the team were paid to help educate and support me and some also continued on to bigger and better things, helped by the results we achieved together. 

“Loyalty is something that I value immensely myself and when the going gets tough, it can be tested.” 

When there can only be one winner and isn’t you, perhaps performance related mistakes are made or it simply isn’t your day, it is still the athlete who is the head of the team and the one to bear the brunt of the criticism and in turn the guilt. For the athlete, there is no one to hide behind or to move on to, they are the face of the operation.  It is the athlete who must carry the responsibility of the team behind them, they are the ones who must endure the physical and psychological pain of injury, lose sleep over the financial hardship of training expenses and consequently battle to hold the team together and boost collective morale when the cracks show. 

What I can now take pride in with an objective view away from my competitive world, is that the one thing that all those people had in common is and was me. I channeled that concoction of talent, the recipe for success and that refined combination of knowledge, into a world-class winning product.

I was in a sense the managing director of the “brand” that won those medals and that in itself, gives me reassurance in my own ability to move forwards and transition from an athlete into so much more in the future.  The principals that I adopted and the skills that I learnt as an athlete through my chosen network, have given me the confidence that even though I may yet have to realise where my future lies, I will make it.

“With a simple dream of success, hard work, determination and self-belief, if you have the right people around you, with the same common goal…anything is achievable.” 

The true athlete in me still full of passion, will forever be touched by each and everyone one of the people who I chose to contribute to my sporting success. I will always believe the connection I made with these people was more than just business and that we created a “family” together, as opposed to a workforce.  Perhaps an athlete with a different attitude of their own ability would feel differently, but as a little girl with a humble beginning, having the phrase drummed into her by her doting mother “don’t hurt anyone on the way up my love, as you may need them on the way back down”, I will always feel indebted to my teachers, mentors and teammates.  

“I believe that everyone in my career and successes even now, plays a part in making me who I am, even if simply to teach me valuable lesson.” 

I know I have thanked everyone profusely for their involvement in my career but my gratitude and appreciation will never feel sufficient towards the people who have helped me achieved my sporting goals.  I think that perhaps in reflection, the perception I have of this is because even though I may not see those people daily as I once did, their values and principles that they taught me are those in which I live by each and every day in all that I do. Regardless whether it be sport, in business or life, all our experiences are what make me me and for that I will forever be grateful. 

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?

 

My second application was rejected too! WTF.

So I have now submitted two rounds of the same applications for funding from Horizon 2020 to prove how surgical confidence has an impact on outcome.

Both got rejected.

And interestingly enough, the SECOND application was deemed WORSE than the first one!!

The rating was much worse specifically in the area of proving the market potential for the final product despite me adding further detail and markets. I believe (from the notes in the feedback) that they simply thought the numbers are too good, versus what I was asking for. And that, exactly that, is an entrepreneurs weakness. You see, we are consistently asking for less money than others, if my theory is true.

Entrepreneurs ask for less money because we are used to doing more with less.

The Dark Side of Delegation

There is a short list of things that I am really, really good at:

  • Parallel parking
  • Hiring good people and seeing their talents
  • Delegation
  • Play with kids

Can’t cook for the life of me and would happily survive on bread for the rest of my life. Luckily my kids are getting nutritious and varying meals from both their father and our excellent nanny.

Delegation is one of those things that are usually hailed as a cornerstone of good leadership. People are usually not keen on micromanagement, and universally we hate when someone stands over our shoulder checking our work. As an entrepreneur in a startup, this is a challenging one. Coming from a background where there is just you, and your brilliant idea, all by your very self, getting to where you have to let other people into that sacred relationship is tough!

Delegating certain aspects of that startup is even harder. Few entrepreneurs I know think they are the expert on every little bits of running a company, but there is a lot of comfort in knowing

  1. a) It has been done
  2. b) Knowing HOW it was done

It is not that we mistrust others, not at all. It is simply an emotional aspect of growth. Sort of like when your child thinks another mummy “is really cool” and “can even do the splits!” You think it is great that your daughter has another grown up role model, at the same time as your heart secretly bleed a little and you spend the next month stretching on the bedroom floor before you tear a muscle and decide that you can be cool in other ways.

Back to delegation.

What people rarely mention is that delegation travels with two unwanted cousins:

“Risk” and “Cost”.

Risk, because when you start letting go of control, there is a couple of things that have to happen before. You have to establish an understanding of Purpose, Vision, Ethics and Values. Otherwise your carefully created baby may be taking off in a direction that you didn’t intend. Or worse, someone you delegate to may do something that is unethical or even criminal.

And then there is Cost.

The perception is often that as a business owner you have a fat salary, a fancy car and always fly business class. I am sure that is true for some, but most of us actually surviving on peanuts, foregoing shopping and flying economy to Santiago Chile with an 8 hour stopover in Miami Airport to save money is more accurate, cash is a highly guarded asset. So to delegate, one has to have someone to delegate TO. Cost. And that someone needs training. Cost. And that someone must be allowed to learn and make mistakes. Cost. (Sometimes high.)

So the big question: is it worth it? Don’t know, but it is necessary.

Just make sure you do the prework well, and have a plan for contingency when it doesn’t work they way you hoped.

And Arnica works like a charm btw.

frontsplits

How Lack Of Ego Drives Growth

It helps growth tremendously to not have to be right. I find it intersting that when new people join the team, it takes  a couple of months until they realise that there is absolutely nothing wrong with having a different view than me.

It may be because I deliberately hire people who I think can do a better job than me. But if that is the case, I am either wrong about the individual (has happened, obviously) or they have worked for a long time without realising their full potential. So let’s for arguments sake say that everyone in the team has worked at 75% before they Image result for people growingcome here, and I employ 10 people. That is me theoretically adding 0.25 x 10 people to the team, just by making sure each person gets the space and support they need to spread their wings and fully contribute to the best of their abilities.

And the best thing? Those 2,5 extra people doesn’t cost me a thing — quite the opposite. Employees love not being told to swim in their lane, and the environment we have is tremendously encouraging. I couldn’t ask for a more dedicated team.

This is working really well for us, and I wonder what else I can do to further improve it? Any ideas or suggestions are welcome!

Packing bags, moving to Ireland?

The CEO of an award winning Medical Device company is considering expanding to Ireland or Germany after the EU referendum

Angela Spang, CEO of medical device provider JUNE MEDICAL, is contemplating a move from London to somewhere else in Europe following Britain’s decision to leave the EU.

Spang is concerned that Brexit will make it harder for her to obtain innovative products from across the continent for her company. Fast paced and award winning JUNE MEDICAL has already grown over 100% since it was founded in 2013.

“There is a huge demand for high-quality medical device and any advantage a company has in accessing innovative products is a huge factor,” she told XXXX. “Mutual recognition for regulatory approval provided access to European wide launches — this is a powerful engine for growth that may now be removed.”

Access to European funding and access to European markets for her own new products will also influence Spang’s decision, she said.

Potential new office locations for JUNE MEDICAL include Ireland and Germany but the company won’t be making any hasty decisions. “We’re monitoring what impact this has over the next 1-2 quarters. If we see a big change in the availability of products or dramatically changed terms, then we will consider alternative geography for investment and growth.

She added: “It doesn’t change our current commitment to the UK, but could change our growth plans significantly.”

When Idea Meet Market, Magic Happens

I frequently meet people who, wbig eyeshen finding out I have three companies, widen their eyes slightly. I have learned that it usually means one of three things:

  1. You think I am a workaholic
  2. You want one too
  3. You think I am really rich

I am going to leave 1 and 3 out. Neither is true. More on that later (that is a different post entirely). Continue reading When Idea Meet Market, Magic Happens