The Growing Business Handbook: Inspiration and Advice from Successful Entrepreneurs and Fast Growing UK Companies Book

Foreword     xliii
Planning for growth
Change the market   Karan Bilimora     9
Bangalore     10
Build credibility     10
Indian restaurants     10
Take-off     11
Brewing partners     11
From cult to brand     11
Ideas per hour     12
The power of innovation     12
The bottling model     13
Complexity of growth     13
Evolution of capital structure     13
Entrepreneurial leadership   Philip Verity     15
Leaders imagine     16
Leaders create opportunities     16
Leaders are talent fanatics     16
Leaders understand that it's all about people     16
Leaders are not the king of the castle     16
Leaders are financial engineers     16
Leaders make mistakes     17
Leaders communicate     17
Leaders make things happen     17
Leaders develop other leaders     17
Creating effective strategies   Mike Robson, SPS     18
Why some companies do not succeed     18
The attributes of successful businesses     18
The business owner's dilemma     19
The strategic plan     19
Implementation     20
Selecting advisers     21
Dealing with dilemmas   Patrick Dunne, 3i     25
Introduction     25
The nature of dilemmas     25
Some principles for dealing with dilemmas     26
Summary     27
Prospects for growth   David Fenton     28
The end is nigh?     28
What a difference a year makes...not really     28
Stability versus ability     29
Exploiting ideas
Build it and they will come   Andy Reid,? What If!     41
Attitude: stay positive and 'can do'     42
Embrace risk and the irreverent     42
Laugh: take fun seriously     43
Innovation in smaller companies   Gerard Burke     44
The innovation process   Peter Ives     47
Knowledge transfer   Jo Wheeler     60
Lowering risks     60
Diffusion of technology and best practice     61
Research and development tax relief for SMEs   Jon Sutton   Dixon Wilson     64
Qualifying companies      64
Qualifying expenditure     65
Specific detail concerning the qualifying costs     65
Ownership of the intellectual property     66
Nature of the relief     66
Making a claim for relief     66
Other relevant issues     67
Intellectual property   Stephen Carter     69
Patents     70
Trade marks     71
Designs     72
Making standards work   Marcus Long     76
Business benefits of standards     76
Types of standards     77
Selecting and applying standards     80
Buying and introducing a standard     80
Certification and product marking     80
The certification process     80
Accreditation   Jon Murthy, UKAS     83
What is accreditation?     84
What are the benefits?     84
Are accredited services relevant to your business?     85
What types of certification are accredited?     86
Gaining market share
Smarter marketing   Paul Hewerdine     93
What your brand means to customers     93
Put the wow factor into your campaigns     94
Think multiple channels for multiple impact     95
Remember your salespeople are your best channel to market     96
When they search, make sure you get noticed     97
Next time, make it personal     98
A little packaging of services goes a long way     99
Building a reputation   Louise Third     101
Gathering storm clouds     101
Storm protection     103
A reputation that works for us     103
Our communications plan     103
Getting everyone on board     104
Getting external advice     105
Sunnier times     105
Franchising   Dan Archer
Franchisees     107
Franchisors     107
Licensing: a good way to grow   Robert Sales     109
Licensing     109
Free beer?     109
Why license?     110
What do you need to be able to license?     110
Particular rights that may be licensed     110
What you should be looking for in a licence     112
Summary     112
Customer service
Service on the move   Martin Taylor     117
Financial burden     117
Meeting objectives      118
Keeping ahead     119
Just one number   Georgette Jones     120
What a One Number-hosted telephone solution can do for your business     120
Available types of marketing telephone numbers     120
Business benefits of using a One Number telephone solution     121
Think you're too small for a telephony solution?     125
Complaints   Paul Cooper     126
Real benefits in prioritizing and improving complaints handling     127
Definition of a complaint     127
Golden rules of complaints handling for organizations     127
Rewarding customer service   Paul Cooper     130
Major conclusions     131
Customer relationship management for small businesses   Mark Staniszewski     139
Definition of a small business     140
CRM for the sole trader     140
CRM for the small business with employees     140
CRM and marketing     140
Acquisition of new customers     141
Choosing a CRM package for your business     141
CRM and your company     141
People and performance
Twenty-first-century HR services for SMEs   Laura Firth     147
Executive development to lead and engage employees in the change     148
Outsourcing HR services: focused, value-driven HR interventions     149
Cost-efficient recruitment     150
Employee retention: improving organizational performance     150
Conclusion     151
Complications and costs of employment law   Mike Huss     153
Lock in top performers   Andrew Broome     156
Offering shares in the business     156
Types of scheme     157
Enterprise Management Incentive schemes     157
Flexible resourcing   John Thomas     159
How large is the freelance workforce in the United Kingdom?     161
Benefits of engaging freelances     161
Legal and contractual issues     162
Stretching performance   Ruth Spellman     164
Recruiting in the new Europe   Rosemary Whibley   J S Hamilton     167
A move from mass labour to added value skills is in sight...     169
Property and locations
Property challenges facing growing companies   Bradley Baker     175
Escalating rents     176
'Village concept' versus one central building     178
A micro local view versus a regional macro-strategic view     179
Information is key     179
Outsourcing/offshoring     179
Summary     180
Relocation, relocation, relocation   Graham Harrison     181
Taking the plunge     181
Careful consideration     183
Current trends     183
A helping hand     186
Office hot spots   Catherine Penman     188
Office market prospects     189
Investment market     193
Property conversions   Graham Elliott     195
Claiming the VAT     198
DIY     199
Cash flow and working capital
Reviewing the efficiency of your business   Fiona Rook     221
Streamline your processes     221
Make use of your balance sheet     223
Benchmarking and budgets     225
In conclusion     226
Slow payments   Martin Williams     229
Banking relationships for smaller companies   Stewart Dickey     233
Working with your bank     234
How to manage your bank manager     234
Negotiate with your bank manager     235
Challenges for tax planning in the growth cycle   David Mansell     236
Raising additional finance     237
Product development     238
Capital spend     238
Staff retention and incentives     238
Acquisitions     239
In conclusion     240
Treasury risks   Paul Gamba     241
Energy contracts   Sebastian Eyre     245
Increases in commodity prices     245
Complex and volatile energy markets     247
Prices have increased substantially     248
Risk management and financial tools     248
Indexation     249
Hedging     249
Exceptions     250
Diesel     250
Conclusion     251
Fuel cards   Alyson Baywa     262
Online services     263
Business technology and systems
Making your way through the software asset management minefield   Chris Minchin     275
Money down the drain     276
Legal compliance     276
Setting boundaries     277
Getting your house in order     277
Ensuring compliance     278
Ongoing management     278
Six-point guide to software asset management     278
Types of off shoring engagement models   Rajiv Dey     282
Value creation: hybrid models     283
Venture capital-funded projects     284
Latest trends     285
Conclusions     285
Video conferencing   John Cooper     286
What is video conferencing?     286
Types of video conferencing     286
What you should consider     290
Justification of investment in video conferencing     291
Beginning your search     292
Choosing a supplier     293
The result     293
Managing the growing organization
Using management information   Craig Goodwin     299
What to measure?     299
Surely management accounts tell me all I need to know?     300
It already takes long enough to compile the management accounts!     300
We have query tools that tell us all we need to know     301
So what?     301
Oh no, not another software system...     302
Conclusion     302
Breaking barriers   David Pinches     303
The problems multiply     305
Real-time agility      306
Achieving integration     306
Building the links     306
The integrated suite     307
Integration works     307
Growth and risk: two sides of the same coin   Stephen Kelly     313
Growth: managing the risk     313
The issue     313
Growth and enterprise risk management     314
External factors     315
The challenge     316
Use existing business performance metrics to measure risk     316
Risk management and performance reporting     317
A positive dialogue on your terms     318
Project success in dynamic enterprises   Ky Nichol     322
Where it all tends to go wrong     323
Lessons learned     323
Conclusion     327
Managing transition and change   Peter McInnes   Nic Beech   Robert MacIntosh     328
Difficulties of managing change in growing firms     329
The multiple nature of organizational change     329
The multiple nature of organizational life     331
Communication and identity issues     331
An inquiry-based approach to managing change     332
Mentoring for growth   Philip de Lisle     333
What is a mentor?     333
Choosing a mentor     334
Using your mentor     335
Bringing down the curtain     335
International expansion
Are you ready to export?   Jim Sherlock     339
Dilemmas in international trade   Martin Allison     342
Some common dilemmas     343
Some tips     344
Address all elements of your approach in parallel     345
Summary     345
Global expansion   David Sayers     346
Small acorns     346
Corporate structures     347
Code contradiction     347
Financing the expansion     348
Making it more permanent     348
Bringing the cash home     348
Conclusion     349
Doing business in China   Joanna Lavan     350
Take a medium- to long-term view     350
Be selective in choosing the right partner     351
Translate your business materials     351
Visiting China     351
Pay attention to guanxi     352
Do your due diligence     352
Chinese negotiation tactics     352
Intellectual property rights     353
Contracts     353
When the going gets tough...     353
Payment terms     354
Ganbei!     354
Information by market   Stephen Browning     361
Taxation and international expansion   Liesbeth Staps     367
Introduction     367
The European Union: a competitive market     367
Dutch government plans     368
Tax treaties     368
Tax planning     368
Advantages     369
Corporate finance
Optimizing the deal structure   Andrew Millington     373
Why the keep it simple approach fails     373
Structuring options     374
Financing options     374
Watch out     375
Conclusion     376
Business grooming   Stephen Harris     377
Where are you going?     377
Outright sale     377
Change in control     379
Financing     379
Trade partnering     380
Generic areas     380
Twenty-one tips for raising venture capital   Geoff Sankey      385
Getting your hands on finance     385
The bank says 'yes'     386
The bank says 'no'     386
Friends, family and angels     386
Venture capital institutions     387
Twenty-one tips     387
AIM or Ofex   Mike Grayer     391
Why float?     391
Difference between AIM and Ofex     392
Choosing the right market     393
Where should you go?     393
Structured finance   Kevin Smith, AWS     395
Equity     395
Senior debt     396
Subordinated debt     396
Mezzanine finance     396
Asset finance     396
Trade finance     397
Structured finance     397
Tax planning   Colin Copeland     399
You can't think about tax too early     399
The relief     399
Getting dressed for the right party     400
BATR: the investment trap     400
How is 'substantial' measured?     400
The timing issue     400
Demerger     401
Succession and exits
Preparing for the ultimate customer   Jonathan Levie    Sharon Eaton     405
Preparing for exit: getting the 'product' ready     405
Market intelligence: know your ultimate customer     406
Attracting potential buyers     407
Using advisers to best effect     407
Conclusion     408
Succession planning and partial exits   Stephen Harris     409
So it's easy to effect?     409
What will I need to do to achieve this?     410
Post-transaction     411
Ultimate exit?     411
What should I do now?     411
Tax target: 10 per cent   Nigel Landsman     413
Taper relief     413
Business asset taper relief     413
Tax planning     415
Index of advertisers     417