Leadership Archives - Page 32 of 34

Future Of The Ceo Role In Tomorrow’s Business

Posted on June 7, 2018 | by root

Future Of The Ceo Role In Tomorrow’s Business

By: Howard Leigh

In the last 30 years technology has delivered a revolution in the way in which business is conducted. Long lunches have been replaced by LinkedIn, analogue by analytics. Diaries are digital and networks are virtual. But in that time, has the nature of leadership also changed, or are the traits that set business leaders apart three decades ago, the same ones that continue to serve the modern CEO well?

Technology has expedited not only the pace of day to day business, but the speed at which it can scale. With the rise of tech giants and Fintech Unicorns grown from back room to board room in a few short years, perhaps a more apposite question today is whether a successful entrepreneur is always a good CEO. And the question extends: what will the future CEO look like? Indeed, will the role of the CEO still be relevant in another 30 years?

Fundamental characteristics of a good CEO remain the same

I have been running my corporate finance advisory business for the last three decades and although the mechanics of business have changed, the fundamental traits of good leadership have not. Being a CEO still means being visionary, flexible, purposeful and realistically optimistic, with the ability to embrace strategic risk. According to LeadershipIQ, in the average company, the CEO is 66% more likely to want audacious change than the employees. It is only by embracing change that companies can evolve, survive and thrive. After all, as Heraclitus said, ‘The only thing that is constant is change.’ This is as true for business today as it was thirty years ago, or indeed, in ancient Greece.

Synthesising CEO traits for modern times

While the traits of a strong CEO have remained the same, they are perhaps synthesised differently – more attuned to a modern business environment. Leadership today is less strident, more collaborative; less static, more active. Steve Jobs pacing the stage is the visual manifestation of this. Gone are the shut-off personal offices guarded by protective secretaries of the 1980s, and if the ’90’s prided itself on an ‘open-door’ approach to leadership, today’s CEO’s must be ‘open plan’. Rather than operating in the restrictive perimeters of nine to five, the modern leader must be reachable 24/7, must assume that anything he or she says could be captured and replayed. Modern business doesn’t take a break.

Do entrepreneurs always make good CEOs?

Given that 660,000 companies were established in the UK in 2016 according to the Centre for Entrepreneurs – a figure that is rising year on year -; could it be that innovation has replaced inspiration as the key trait of the modern CEO? I founded my business in 1988 and am Senior Partner today with a CEO in place, but according to Noam Wasserman, author of The Founder’s Dilemma, I am in the majority.

According to Wasserman, by year three of a startup’s course, 50 percent of founders are no longer CEO, and by year four, only 40 percent are still active. Fewer than 25 percent of those who were their company’s original founders are still around to lead that company’s initial public offering. There is a difference, perhaps, between professional CEOs who hold serial senior positions, and founder CEOs. In established companies, it is not the job of the CEO to be innovative; it is for him or her to embrace innovation. Perhaps one of the most important aspects to being an entrepreneur CEO is having the ability to devolve power to carefully curated leadership teams.

Politics will always be politic

Just as CEOs can’t operate in isolation, nor can businesses. Companies are intrinsically linked to the macro political/ economic environment in which they are operating, and as such, CEOs should be familiar, if not involved, with the dialogue. From Thatcher’s free markets to Brexit, if you are not part of the conversation, then you are missing an opportunity to inform and influence both it, and yourself.

Do CEO’s have a future?

In an era of escalating AI, the question of whether CEOs will still have a role to play is not as far-fetched as it may at first seem. Alibaba’s founder and chairman, Jack Ma, recently asserted that in 30 years, “the Time Magazine cover for the best CEO of the year very likely will be a robot.” I fundamentally disagree with that, from time immemorial people have needed leadership and direction. Even the Bible recognised that any leader should only manage 10 people and that they in turn could manage another 10. People need direct connection to their CEO. Certainly, CEOs of the future will have to be tech savy, but then, won’t everyone? More importantly, with the rise of data transparency, it is likely that investors and shareholders of the future will be extremely focused on operational and accounting transparency. Rather than an erosion of typically human characteristics like intuition and charisma, this shift will demand that they are emphasised. CTOs will build the tech infrastructures of the future; CEOs will still need to build the human systems.

To be an effective CEO of the past, present and future, you must deal in dualities: be confident in your ability, but know your weaknesses. Make purposeful decisions but be open to feedback and flexibility, but ultimately, invest in your people. In the words of Sheryl Sanderg, COO of Facebook,

“The real competitive advantage in any business is one word only, which is “people”.”

About the author:

This year marks the 30th anniversary of Cavendish Corporate Finance, one of the UK’s leading mid-market M&A advisory firms. Since its founding by Howard Leigh, recently ennobled as Lord Leigh of Hurley, the firm has advised on some 600 company sales, including some of the UK’s most iconic brands.

He was elevated to the Peerage as Lord Leigh of Hurley in 2013 and speaks regularly in the House of Lords on business, finance and tax matters. He accompanied the Prime Minister on the trade trip to China in 2013. Howard chairs a number of charitable concerns and was appointed as a Treasurer of the Conservative Party in 2000, and subsequently as Senior Treasurer.

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.

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

Building a Distinctive Business in one of the Most Competitive Areas

Posted on April 27, 2018 | by root

LESSONS LEARNT BUILDING A DISTINCTIVE SERVICED OFFICE BUSINESS IN ONE OF THE MOST COMPETITIVE AREAS OF THE PROPERTY MARKET

Read the thoughts of Co-Founder of Office Space in Town, Niki Fuchs, on the lessons she has learned when building a distinctive serviced office business in one of the most competitive areas of the property market.

Serviced offices’ growth over the past five years has been one of the most compelling stories in the property sector. From being a neglected sub-sector of the global commercial office market, serviced offices have risen to capture media headlines and been lauded as offering the way of working that the new generation of businesses need to thrive and prosper.

Although Office Space in Town (OSiT) was founded only nine years ago, its heritage is much older as my parents founded the family’s first serviced office business in the 1970s, having imported the idea from the US.

Building OSiT, which I co-founded with my brother Giles, into the successful, distinctive business it is today with a £160m portfolio of London-based office buildings, and a strategy to more than double in size over the next five years, has been challenging. The market’s fast growth has attracted a host of providers and competition is intense.

Below, I outline some of the key challenges that I personally, and we as a company, have had to address and overcome on our journey to making OSiT one of the premier service office operators in London, which is probably the world’s largest flexible office market.

Being a woman in a male-dominated industry

Property is still a largely male dominated sector. However, rather than be discouraged by this, I embraced it. I took advantage of the rarity value of a female entrepreneur in the property sector and the interest shown to secure meetings with agents, building owners and potential funders. All of which were vital to the growth of the business.

While business globally is transitioning from being male-dominated to embracing equality recent coverage of gender pay gaps have indicated, women still face an uphill struggle. My experience has allowed me to better understand the issues involved and this has motivated me to ensure that within OSiT we have a strong agenda of gender equality, equal opportunity and respect for individual talent across the business.

Identifying a gap in the market

Spotting a gap in the market, or identifying a likely new trend is fundamental to the success of most businesses. A good example is Airbnb. The founders recognised that the internet offered an opportunity for homeowners to turn their homes into hotels. In our research ahead of forming OSiT, we realised that there was a growing demand for office space that offered quality, community, collaboration and flexibility, driven in part by the rapid rise of the UK’s increasingly tech-enabled, mobile workforce. Such businesses are reluctant to sign long leases as their businesses are rapidly evolving and as the pace of change across sectors has never been so swift, even larger corporates, which include some of our tenants, are reluctant to commit to such fixed terms.

Choosing the right business model

It’s often tempting when founding a new business to at least adopt some of the characteristics of incumbents on the basis that if they are still in business some elements of their business model are perhaps worth copying. This can often be a mistake and we were determined to avoid this when we founded OSiT.

Having reviewed the market, we decided that the model followed by many existing providers, to lease the buildings that they converted into serviced offices, had inherent risks, in particular in downturns when occupancy levels are likely to fall but lease payments remain constant.

We decided to adopt a freehold model owning the buildings we acquired. This gives the business greater stability and resilience to cope with the ups and downs of business cycles as well as allowing us to inject greater investment into the design and facilities, enabling us to offer the best possible customer experience for our tenants whilst also investing in our asset.

Securing appropriate funding

Having decided on a freehold model, however, gave rise to a fresh challenge – securing the funding to acquire the buildings that we needed. In our early years, before the serviced office sector had started to capture headlines, it was challenging to secure backers. However, we developed and refined our proposition and produced reports on why the sector was emerging as a new asset class and why it was an excellent investment for both alternative and traditional institutional investors.

Alternative investors were the first to be convinced. We secured funding from a large US property fund, Forum Partners and one of China’s foremost property investors. More recently, earlier this year, we signed a deal with RDI REIT, a major real estate investment trust. RDI’s commitment to the sector is the first time that a long-term, income-seeking institutional investor has moved into the market – and will likely be the catalyst for a potential wave of longer-term institutions, such as pension funds and insurance companies, committing funds to the sector.

Establishing a winning product strategy

Given the strong competition in the sector, we needed to ensure our offer was distinct and compelling. The starting point was deciding on their location, to optimise occupancy levels and returns. Our strategy targets commercial properties in London in excess of 25,000 square feet and within a four minute walk of a tube station or rail links. Each office needs to be a profitable business centre in its own right.

The second key element was the quality of our offer to prospective tenants. We decided that the overall design concept needed to be eye-catching and the services offered needed to be of the highest quality. Our freehold model allows us to design and fit out our offices to our own unique specifications as well as commit additional investment to our services

We like to put on own unique twist on our buildings – all our interiors are designed to a unique theme, from Alice in Wonderland to the Great Gatsby, and the high-end luxury of Sunseeker yachts. Our facilities are designed to support a proper work/life balance and included facilities such as gyms, cafes, beauty rooms, bars and hotel rooms. We also have dedicated cleaning teams and facilities managers who ensure that the overall environment is spotless and that the ugly work of ensuring services work is as much a priority as the high-quality of the services themselves.

Staying relevant

The pace of change across economies and business sectors has never been more rapid. Both Giles and I understand that we have to continually evolve our offer to ensure that our serviced offices continue to maintain the high occupancy levels that we currently enjoy. We regard every new building we acquire as an opportunity to offer something new, deliver something fresh, whether that is the overall design or the mix of services that we offer.

We have enjoyed our journey in making OSIT the respected business it is today and we take pride in the fact that we have helped our tenants with their own growth story. Hopefully the lessons above will help even more entrepreneurs expand and develop their businesses and be successful.

Leaders need to be Better ‘Followers’

Posted on April 18, 2018 | by root

Leaders need to be Better ‘Followers’

Bosses need to be better at following others if they are to succeed in a management role, say leadership experts.

Politicians and CEOs are too focused on how they are perceived as leaders – rather than actually leading colleagues around them.

‘Followership’ is the new management philosophy which places strong emphasis on following the lead of others who traditionally would be seen as lower down an organisational hierarchy.

Global leadership advisory firm 6 Group evaluated more than 75 corporate transformational changes and interviewed more than 300 senior executives across Europe in two years.

It found that in many cases the best leaders actually took a lead from other colleagues on many issues.

James Beazley, managing director of 6 Group, said:

“Everyone talks about leadership but followership is the skill most likely to create success especially in large scale transformation projects. There is limited information or research about the concept of ‘followership’ and what little exists usually centres around the concept of attaining followers.

“In contrast, there is a huge amount of research around the servant leader, the fallible leader, the collaborative leader and authentic leader. The list goes on. However, all of this still emphasises leader over follower.

“Artificial intelligence is increasingly removing ‘hard’ aspects of leadership such as facts, metrics and analysis. What is increasingly in demand are the ‘soft’ aspects of leadership which include visioning, collaborating, enabling, inspiring and motivating.

“To bring about cultural and transformative change, it is widely known that you need to change people’s mind-sets, which then leads to a change in feelings and emotions which ultimately leads to a change in behaviour.

“We found that the most successful organisations going through change take the approach of ensuring they have the right team aligned to taking the lead in each key competency. Followership is the recognition that leaders can’t do it all and there is strong evidence that the best leaders are in fact following others.”

Best Friends Animal Society Names Julie Castle As CEO

Posted on April 13, 2018 | by root

Best Friends Animal Society Names Julie Castle As CEO

Best Friends Animal Society, the USA’s leading animal welfare organisation committed to ending the killing of animals in America’s shelters by the year 2025, announced that its Board of Directors has appointed Julie Castle as Chief Executive Officer effective the 16th April 2018.

The USA’s leading animal welfare organisation committed to ending the killing of animals in America’s shelters by the year 2025, Best Friends Animal Society, announced on the 20th March that its Board of Directors has appointed Julie Castle as Chief Executive Officer effective the 16th April 2018. Co-founder and current CEO Gregory Castle will transition to other responsibilities and will remain a member of Best Friends Board of Directors. He has served as CEO of the organisation since 2009.

Ms. Castle’s appointment as CEO caps a remarkable journey within Best Friends Animal Society. She joined the organisation in 1994, after an impromptu visit to Best Friends’ sanctuary inspired her to scrap plans to attend the University of Virginia’s School of Law and take instead an entry-level job as employee # 17 working to help abandoned and abused animals. As Ms. Castle, 48, has risen through the ranks of Best Friends, the organisation has grown from a single no-kill animal sanctuary in the Utah desert to a national leader in animal welfare with 800 employees, $130 million in annual revenue and a bold vision goal of ending the killing of pets in U.S. shelters by 2025.

“In 2014, Gregory Castle informed the board of his intention to complete his term of service in 2018, the board made the decision that our next CEO should come from within the ranks of the organisation and identified Julie Castle as the leading candidate,” said Francis Battista, Chairperson of Best Friends Board of Directors. “Julie Castle has demonstrated all the leadership qualities and talent anticipated by the Board in 2014 and we are confident that Best Friends will be in good hands as we head into the push to end shelter killing in this country by 2025.”

In the intervening years she has served as Executive Director of No More Homeless Pets in Utah, a Best Friends led state-wide coalition of 166 shelters, animal rescue organisations and veterinarians from 2000 to 2006, which now boasts a state-wide save rate of 87%, Director of Community Programs and Services 2007 – 2011, Director of Marketing and Communications 2011 – 2014 and most recently served as Chief Development, Marketing & Communications Officer growing the organisation’s revenue by 48% to over 130 million dollars annually and has helped build Best Friends capacity to support lifesaving initiatives required to take the country to no kill by 2025.

Among her numerous accomplishments, Julie led the creation of Best Friends’ NKLA (No Kill Los Angeles) Initiative, a wide ranging coalition of more than 130 non-profit organisations and including a public / private partnership with the city of Los Angeles, focused on ending the killing of dogs and cats in Los Angeles. The NKLA Coalition has taken the city of Los Angeles and one of the largest and most complex shelter systems in the country to the verge of no-kill: from a 56% save rate to an 87% save rate of all animals entering the cities six municipal shelters in a five-year period.

“I was on my way to law school at 22 years old and after a spontaneous visit to Best Friends Animal Sanctuary I felt inspired to be part of something that was changing how the world views companion animals… And I never looked back,” said Julie Castle. “What was once a simple idea — that every animal’s life has intrinsic value — has grown into a nationwide movement and I feel honoured to be at the helm of an organisation that is on the forefront of making history in the animal welfare space.”

As Chief Executive Officer, Julie’s main priority will be leading the national effort to achieve no-kill by 2025, an unprecedented initiative and goal to create no-kill communities nationwide which means that healthy or treatable pets will not be killed for the sake of making more space in shelters. A 90 percent save rate is the general threshold to be considered no-kill.

Julie’s innovative thinking has brought about a new way of doing business not only in animal welfare but in the non-profit sector. Building coalitions at city, state and national levels is at the centre of Julie’s vision, including a national network with more than 2,100 animal welfare organisations across the country. To achieve no kill by 2025, her focus has been to collect data from around the country, which provides a more comprehensive view nationally and regionally to drive business/program decision making, gauge progress over time and allows for communications/mapping of that progress externally.

At her direction, Best Friends is rallying experts in other fields to discuss new forms of communication and technology and forging new partnerships to help re-engineer some of the ways animal welfare does business. Introducing new self-service and consumer-to-consumer tools, including those that reimagine the adoption process will help to solve some of the movement’s biggest challenges.

Best Friends Animal Society is headquartered at the nation’s’ largest no-kill animal sanctuary in Kanab, Utah and has regional headquarters and operations in New York, Los Angeles, Salt Lake City and Atlanta with a national network of over 2,100 animal welfare partners and programs in over 30 U.S. cities. Best Friends is the nation’s leading animal welfare organisation committed to ending the killing of homeless pets in America’s shelters by 2025.

Everyday over 4,100 dogs and cats are killed in America’s Shelters. As a leader of the no-kill movement Best Friends and like-minded organisations are intent on ending this practice. At Best Friends National Conference in 2016, Julie Castle planted a stake on behalf of the organisation declaring that Best Friends Animal Society would lead the country to end the needless killing of dogs and cats in our nation’s shelters by 2025.

Global CEO Peer Advisory Organisation Expands UK Footprint with Major Acquisition

Posted on April 10, 2018 | by root

Leading Global CEO Organisation, Vistage, Expands European Presence With Acquistion of U.K.’s Academy for Chief Executives

Vistage, the world’s leading CEO peer advisory organisation with over 22,000 members in 20 countries worldwide, signs agreement to purchase the Academy for Chief Executives in the U.K.

Today, Vistage announced that a deal has been signed to acquire the Academy for Chief Executives, a leading U.K. CEO development organisation, dedicated to improving lives by unlocking the potential of every business leader. This partnership will grow the Vistage community of CEOs and business leaders, solidifying its position as one of the top CEO organisations in the world. Vistage already has a significant presence in the U.K., but this development will create a collaborative community in the U.K. of over 100 Chairs and 1,800 members, supported and connected by the resources and programmes of a global brand.

Bringing the communities together enables Vistage to advance its vision of becoming the world’s most trusted resource to CEOs and key executives, helping them become better leaders and deliver better results. Vistage’s purpose is to help high-integrity leaders make great decisions that benefit their companies, families and communities. The Academy’s talented Chairs, and its hundreds of loyal and successful members will help advance that purpose, benefiting from a wide range of events, online resources, market research, and learning and networking opportunities within Vistage. At the same time, their combined experience and expertise will raise the bar and strengthen the Vistage community.

Vistage CEO Sam Reese says both companies have a shared mission to improve the effectiveness and enhance the lives of CEOs and key executives, and that this was a primary driver for the acquisition. “The bottom line is that we share the same goals, and have very similar principles. Our strategy must always be rooted in member value; expanding our membership with quality members and Chairs contributes richness, diversity, wisdom and added value to all in our community, both within the U.K. as well as globally,” says Reese.

“The Academy’s business is very similar to that of Vistage. Our members will continue to enjoy the primary relationships with their Chair and fellow group members, and will find great added value in the Vistage platform, which will complement their current membership experience,” adds Ian Price, CEO of The Academy for Chief Executives. “Our Chairs will also benefit from becoming part of an enlarged, supportive community, with new opportunities to develop their skills, and from the resources that come with being part of a successful global brand.”

A CEO Ensuring his Door is Open to Everyone

Posted on April 9, 2018 | by root

A CEO Ensuring his Door is Open to Everyone

RAM Tracking is a multi-award-winning provider of vehicle tracking technology and associated customer success and support. CEO Chris McClellan gives us an insight into what it is like to be a leader, and what techniques he employs to ensure he runs a successful company.

Founded in 2004, and with its services predominantly targeted at SMEs and mid-market firms, RAM Tracking offers intuitive web-based software, a range of dash-cameras and fleet management services spanning vehicle finance through to fuel cards which are perfect for any organisation wishing to develop an effective fleet management strategy, while protecting staff, improving profitability and enhancing environmental efficiency.

Guaranteeing that the company is moving forward in the right way, Chris outlines his responsibilities as CEO, telling us about how his leadership style sees him get the best out of his valued team.

“Here at RAM Tracking, every day is different, and my role is still very much hands-on as well as strategic. Also, I invest a lot of my time in leadership coaching sessions, especially with business experts such as Tony Robbins and Steve Crabb. I, along with the Board of Directors, look to build the bigger picture for the business – identifying opportunities and threats we need to be aware of. In terms of my leadership style, I have a team of leaders in place and empower them to make their own business decisions. I actively invest in extra training for all staff to help them develop the skills to have an entrepreneurial mindset and understand the way I want to shape the business.”

Understanding what customers and employees really want, and aiming to exceed these expectations is an attribute which Chris believes has helped him shape his success. He comments:

“Over the last 18 months, we took the decision to undergo the prestigious Investor in Customers (IIC) survey. The IIC surveyed both our customers and staff to understand if we are meeting (and exceeding) their expectations. It is the first time we have ever put the business through such an exercise in the 14 years of operating, and I am proud that we’re the only vehicle tracking company in the UK to have been accredited for the top Exceptional/Gold customer service levels for three consecutive times.”

In order to maintain a happy and thriving working environment, Chris emphasises the importance in not undervaluing staff, and he sees them as a vital cog in ensuring the company moves forwards.

“Undervaluing your staff and not seeing the importance of nurturing and developing them, is a major common mistake for many business owners. Although I am still hands-on in some areas of the business, I make sure that I empower my leadership team to have the skills and confidence to make their own decisions about the business. I invest heavily in training from external coaches and mentors to help all staff train everyone with the skills they need to act like entrepreneurs, think outside the box and not to be scared of taking any risks that they strongly believe will pay off. In addition to this, every six months we ask independent accessor, Investor in Customers to survey our staff, giving us (Board of Directors) 360 feedback to develop the team further. This way of managing and educating the team, I believe has played a strong part in business growth.”

Adopting an open culture, Chris explains that his door is always open to any personnel who may have an issue or an idea which may be of benefit to the firm. He talks about investing in sales platforms and encouraging his staff to all work towards achieving the same mission.

“My door is always open to everyone that works at RAM Tracking, and I ensure that everyone adopts the same way of thinking. I actively encourage everyone within the business to share their ideas, new products and improvements to the business, after all 100 heads are better than one.

“Furthermore, we have invested in SalesForce as our CRM platform which has boosted interdepartmental communications, everything is transparent and anyone can comment. All staff can be reassured that their comments are reaching me as well as The Board, which really helps in quick decision making.”

In his concluding comments, Chris signs off by predicting what he believes the future holds for the firm, hinting at possible expansion which will lead to RAM Tracking being able to explore a wealth of new opportunities, leading to a job well done.

“Looking ahead, I will be looking at new ways and possibly introducing some new services to make fleet management even easier for businesses with commercial vehicles. The RAM Tracking team is also expanding, so looking at new ways to develop them into new opportunities as they arise within the business.”

Company: RAM Tracking

Contact: Chris McClellan

Address: First Floor, Nelson House, George Mann Road, Quayside, Leeds, LS10 1DJ, UK

Phone: 0330 100 3622

Website: www.ramtracking.com

The 30-year-old CEO steering three international motorsport events to the top

Posted on March 29, 2018 | by root

As any business builder will agree, it’s tough to make it in the world of business. Even more so when you are young. Challenging this school of thought however, is Azam Rangoonwala who at just 30 years old has been appointed CEO at Powerboat P1.

The global rights-holder for three international water-based events which includes the P1 SuperStock powerboat championship, P1 AquaX personal watercraft championship and the P1 Jetcross stand-up ski racing series, P1 are set to take these dynamic sports to a global audience.

Becoming a CEO at just 30 is no mean feat and it looks like Azam’s spirit for business could be in his genes. His father, who invested in P1 some 15 years ago, is also a successful businessman and Azam credits his business skills and drive to succeed to what he learnt from his father.

“My father is what I call a serial entrepreneur. With several successful businesses to his name he has always been extremely determined, and that level of ambition is contagious. I feel extremely lucky to have been brought up around that unwavering drive, and with the lessons he has taught me in building relationships and nurturing a business, I am confident P1 will thrive.”

The US racing season kicks off in Miami in April and Azam is now responsible for organising all three series under the P1 umbrella – a challenge he relishes.

Working his way up through the business, Azam went from working on manufacturing boats in North Carolina, to getting involved with the event-side of the championships and establishing a new office base in Orlando, which he ran for several years before finally taking his seat as CEO.

Through his journey to the top, Azam has naturally built up quite the collection of contacts, with the help of his father who has an extensive business background. With these relationships in tow, Azam and the P1 team have successfully established, developed and maintained many high-profile partnerships, including with tourist boards Visit St Pete Clearwater, Visit Jacksonville and Experience Kissimmee – a relationship which is now moving into its third year.

Azam has also successfully secured the P1 AquaX support from the industry’s top PWC manufacturers, Yamaha Motor Company, Seadoo, Kawasaki and Ford.

An all hands-on-deck kind of guy, speaking of his appointment as CEO, Azam said: “I am hugely passionate about P1 and am thrilled to bring this exciting, adrenalin-fuelled sport to an even wider audience. My background in the sport, from racing to working at ground level where I set up race courses, makes me perfectly placed, with the support of the team around me, to take the sport to even greater heights.”

Despite early days in his role as CEO, Azam has already made great strides towards expanding the P1 business including enlisting the help of a leading PR agency to get the P1 name heard in both the UK and the US.

With a five-year plan in place, Azam’s sights are firmly set on the future as he explains: “As the brand continues to grow and garners more and more interest, there is increased opportunity to expand the events into other countries. We are already launching the SuperStock series in Malaysia and I am also in talks to take our events to East Asia.”

Website: www.powerboatp1.com

Visionaries Join Academy to Save Blockchain

Posted on March 15, 2018 | by root

Visionaries Join Academy to Save Blockchain

Academy – School of Blockchain (“Academy”) introduces their superstar team of executives and advisors. Academy’s executive team and diverse advisory board reflect the dynamic and revolutionary nature of blockchain.

As the world’s first accredited blockchain training program, Academy’s world-leading programs address the global shortfall in blockchain education. Through ongoing advisory partnerships with industry visionaries and pioneering leaders in the blockchain and cryptocurrency sectors, Academy ensures its programs align with the rapidly changing needs of these industries.

“Industry alignment is crucial to the success of any skills-based training program. At Academy, we’ve developed an unparalleled network of advisors who provide us with not only intimate insight but also a view towards the future of blockchain,” said John Souza, founder and CEO of Academy.

This future-focused approach is part of what makes Academy so unique in the edtech space. “Our Advisors’ knowledge of the industry – where it’s been and where it will go – is an invaluable resource; it allows us to adapt our curricula to reflect the needs of the blockchain sector as it continues to grow and transform,” said Jason King, co-founder of Academy and Unsung.org.

As part of its work, Academy enables the future of blockchain projects worldwide by addressing the growing blockchain developer shortage. Academy is a member of the Southern Association of Colleges and Schools (SACS-CASI) through Kingsland University and is an internationally recognized higher education institution.

“We’re thrilled to combine the knowledge and leadership of so many visionaries, entrepreneurs and innovators to help us drive the future of blockchain; our advisors are invested in the growth of the blockchain sector and recognize that high caliber developers are the key to unlocking the technology’s potential,” said Souza. “That’s why we’ve come together – to develop programs with exceptional outcomes for Academy students and the industry as a whole.”

Executive Team

· John Souza (Founder, Kingsland Academy / Founder, Academy)

· Jason King (Founder, Unsung.org / Co-Founder, Academy)

· Moe Levin (Founder, Keynote FZE / Co-Founder, Academy)

· Robert Kim (Academy, Director – Global Business & Enterprise Development)

· Svetlin Nakov (Academy, SoftUni)

· Hristo Tenchev (Academy, SoftUni)

· Ivan Nenkov (Academy, SoftUni)

Curriculum Advisors

· Steve Dakh (Ethereum, Kryptokit)

· Craig Sellars (Tether, Omni, vAtomic)

· Gabriel Kurman (RSK Labs)

· Alex Lightman (Millennium Energy Corporation)

· Riccardo Spagni (Monero)

· Paul Puey (Edge, Airbits)

Enterprise & Business Initiatives

· Steve Beauregard (Bloq, GoCoin)

· Jonathan Teo (Binary, Twitter, Snapchat, Instagram)

· Shawn Owen (Salt Lending)

Advisory Board

· Brock Pierce (Bitcoin Capital, Bitcoin Foundation, Tether, GoCoin)

· Loretta Joseph (ADDCA, SSX)

· Chance Barnett (CoinCircle, Crowdfunder)

· Gabriel Abed (Emercoin Group, Polymath)

· Lee Fox (PeerSpring)

· Crystal Rose (Sensay)

· Michael Tozoni (Mycelium, Bitcoin100)

· Pilar Stella (Alchemist VC)

· Yacine Terai (Startup Token)

· Lauren Selig (Shake & Bake Productions, VALIS)

· Nikola Stojanow (aeternity)

· Devadutta Ghat (VideoCoin, Facebook)

· Dawn Newton (Netki)

Legal Team

· Michael J. Quinn (Vedder Price, SEC)

· Roger Royse (Royse Law)

Moving forward, Academy will grow its advisory team to continue providing agile and effective education solutions for emerging disruptive technologies, now and in the future.