Don’t be a shooting star: So your company is growing but you don’t think you can afford the customer focused talent you need for your Board?

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08/01/2020

SMEs are a powerful force and an exciting opportunity for individuals to create the kind of company, and career, that they want. Nonetheless, however quickly a business grows, it is still a juggling act getting the board level guidance you need to take your business to the next level, whilst staying on top of those margins. So how do you get C-Level leadership mentoring and talent without the cost?

SME opportunities and providing the right support

Setting the scene, with opportunities for financing and as a centre of international trade, the UK in particular presents vibrant opportunities for entrepreneurialism and business development.

As a result, there were 5.8 million small businesses in the UK at the start of 2019. That’s an increase of 3.5% (+200,000 businesses) on the previous year. These small businesses account for 99.9% of the business population (5.9 million businesses), three fifths of the employment (16.6 million) and around half of turnover in the UK private sector at £2.2 trillion.

SMEs are the backbone of an economy, with each ones’ success BEING valuable to the whole. With those metrics, there is a need to think about business structure in a more flexible way. One that supports the growth of smaller businesses, working with them for the sustainable growth of all. It’s the kind that allows you to tap into advice with C-Level leadership mentoring and coaching. It’s the advice that knows the key business issues and opportunities you are facing. Like the board of directors many larger firms benefit from – but a solution that is more cost effective.

Taking your business to the next level with leadership mentoring

We have become accustomed to the image of the tech wizard who makes their millions overnight, or the disruptor who changes an industry forever. However, we have also heard the tales of woe; business’s answer to child stars, where they have grown too fast and without enough strategy. Where cashflow hasn’t been planned effectively. Or where meteoric success has not given a first time CEO the time to grow and develop as a leader, leaving them ill equipped for sustainability, longevity and the second act of their show.

If you have a business that’s doing well, you no doubt want to keep it that way. However, you may find that although you know your product and your brand extremely well, as a first time business owner or entrepreneur, you may not have all the experience to decide where, how and why to take the next strategic steps to maintain manageable growth.

Even as a seasoned business owner of a young company or SME, you may know enough to know that none of us have all the answers on our own, and that you need or want the support and due diligence of an experienced board member to help guide you. In fact, business leaders in companies of all sizes sometimes find the need for C-Level leadership mentoring, such was the case for David Nish, CEO of Standard Life in 2010, who sought the counsel of Niall FitzGerald, a former chairman of Unilever, to help the company navigate a seismic change in direction.

So how do you get the best and most experienced directors to support you, without paying the fees that the best firms would usually command? The answer is, you go gig, giving you access to a wealth of knowledge and experience from a roundtable of bottom line driven, customer focused Chief Marketing Officers and Chief Operating Officers.