Dragon Doug gets even
Former Dragon’s Den tycoon Doug Richards rubbed shoulders with Make me a Million celebrity Emma Harrison and business leaders from across the North West at the second star studded Institute of Directors (IoD) North West conference, sponsored by the Northwest Regional Development Agency and Pannone LLP. Other world class speakers at the annual conference included Mike Power OBE, of the London Organising Committee of the Olympic Games (LOCOG), Former Chairman of the Inland Revenue Sir Nick Montagu and Stephen Broomhead, Chief Executive of the Northwest Regional Development Agency.
Doug Richard cited revenge as a significant motivational factor in running a successful business, as part of his speech on being resilient to challenges. Doug fired all of his Board and took more than four years to turn around the fortunes of one of his software businesses, after his new company’s share value fell to 99 per cent of his buy in value.
More than 130 IoD members attended the conference which was focusing on business growth in the North West at The Lowry Hotel, Manchester on Thursday February 22.
Miles Templeman, Director General of the IoD, who opened the conference, said: “I would like to say how well the region and the IoD is doing up here – the North West is one of our strongest regions. Only if each region achieves its goals will UK plc achieve its goals. The IoD represents the interests of businesses to the government which is good on policies, but poor on implementation. Having clear strategies is vital but give maximum freedom to front line people to achieve them. The government does not understand empowerment.” He stated; “Tax and transport are still among the top concerns for business people, along with skills, energy and climate change.”
Doug Richard, Founder and Chairman of Library House, said: “My goal in life is to be entertained and to achieve something and I have a deep need to get even. You have to be resilient to challenges, business is about how we deal with this. It is about luck as well as intent.
Dragon’s Den was a very entertaining programme. Valuation became the touchstone of the show and the only tool we had was to ask for more or less equity, which made us appear greedy.
The biggest problem I face in business is getting world class staff and the biggest challenge in the UK is staffing. It is difficult to get the same people in the same place at the same time. My top tip is to buy the top person in your organisation at a top price. Great people attract great people.”
The conference featured a panel of business leaders from the North West, chaired by BBC broadcaster Mark Edwardson and City Editor of the Financial Times Andrew Hill, which comprised some of the most noteworthy, successful and influential managing directors, chairmen and founders across the North West.
They included the current holder of the prestigious IoD Director of the Year Award Andrew Tinkler, Chairman of WA Developments International, Mark Addlestone, Managing Director of Beaverbrooks, Anthony Preston, Founder of Pets at Home, Dr Sharon O’Kane, Co-Founder of Renovo and Peter Watson, the new Managing Director of Northwest Business Link, who all showed optimism for further business success in the North West and gave delegates tips on growing their businesses.
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The Institute of Directors is a non-political independent organisation with 55,000 members. In addition to its wide range of business services, the IoD provides an effective voice to represent the interests of its members to government and key opinion-formers. It also brings the experience of business leaders to bear on the conduct of public affairs. More information at www.iod.com/northwest
Biographies
Emma Harrison, Chairman, owner and founder of A4e Ltd and from Channel 4’s Make Me a Million.
Emma has a unique approach to leadership, seeing her role as being to ‘Inspire, encourage and elevate’. It is this business philosophy that has seen her turn a small regional training provider, founded in 1991, into an international, multi award-winning company. Furthermore, Emma has built a company that follows her principle of ‘doing well by doing good’ and has implemented a policy of business diversification that has taken the company into new markets that enable it to realise its overall goal of improving people’s lives.
Sir Nick Montagu, former Head of the Inland Revenue was voted European Business Speaker of the Year in 2006. He has unrivalled experience of leading and managing change within major organisations.
In 1997 Nick became Chairman of the Inland Revenue and headed the Department through change unparalleled in its previous 200 years. Under his leadership, the Revenue became customer focused, by far the most effective provider of e-services in government and a national beacon for its diversity policies. Nick speaks as a practitioner with wit and substance about his experiences and the lessons to be drawn from them for transforming both public and private sector organisations.
Doug Richard, Founder and Chairman CEO of Library House and from BBC’s Dragon’s Den.
Library House is the authority on privately held high-growth companies in Europe. Library House helps professionals discover, compare and monitor private high-growth companies as they progress through their lifecycle from initial investment to partnering, trade sale or public offering. Since its inception in 2002, Library House has provided leading UK, US and European investors, advisors, business development professionals, universities and government the most complete view and direct access to Europe high-growth company market.
Mike Power OBE
Mike started working on the London 2012 Olympic and Paralympic Games bid in October 2003, the twelfth employee of the team. He was responsible for recruiting the team which put the technical bid together and had the overall responsibility for the production of the Applicant Questionnaire, the Candidate File and Evaluation Commission visit. Mike is now responsible in the LOCOG for co-ordinating the plans for all the operational aspects of the Games.
Panelist Profiles
Mark Adlestone is Managing Director of Beaverbrooks the Jeweller. Mark joined the Company in 1979, became Joint Managing Director in 1990 and sole Managing Director in 2000. Over the last three years Beaverbrooks has come 2nd, 3rd and 4th in the Sunday Times Best Companies to Work For. Beaverbrooks has won the accolade of “Jewellers of the Year” nine times out of the last 14, as voted by trade magazine, Retail Jeweller.
Dr Sharon O’Kane is the Co-Founder and Executive Director, Research and Development of Renovo, which is a biopharmaceutical company focusing on the development of drugs to prevent and reduce scarring. Renovo currently employs more than 160 people and floated on the London Stock Exchange in April last year, with a current market cap of approximately £310 million.
Anthony Preston bought his competitor out for £35 million. Preston, a former venture capitalist, founded his Pets at Home retail chain in 1991 with a single store in Chester. Expansion was funded by previous employers buy out of his direct competitors, Petsmart. The Cheshire-based company now has 144 branches, 30 of which have veterinary surgeries under their roofs. In July 2004, Pets at Home was acquired by European private equity firm Bridgepoint in a deal with a total enterprise value of £230 million.
Andrew Tinkler is Chairman of WA Developments International which now owns Eddie Stobart Ltd and WA Developments International Ukraine, a Ukrainian affiliated company which has introduced top brands such as Mothercare, NC Kids and Chevignon to Ukraine. He is also Managing Director of WA Developments Ltd, a civil engineering firm he founded with just £500 back in 1993, which today has a turnover of £23 million and has been recognised as one of the UK’s fastest growing companies for three consecutive years.
Peter Watson is responsible for managing the transition from the current Business Link service suppliers to the new service, which will be operational by April 1, 2007. This new £18 million service creates a step-change in the number of businesses starting up in the North West and the increase in the number of businesses accessing support. It will also have an increased focus on those sectors and businesses displaying the greatest growth potential for the regional economy as set out in the new Regional Economic Strategy.
Contact Points:
Jane Harrad-Roberts, Press Officer, IoD North West Mobile and out of hours: 07785 395705 Email: jane@marketingprojects.co.uk
Laura Wolfe, Regional Director, IoD North West Tel.: 0161 209 3152 Mobile and out of hours: 07973 332564 Email. laura.wolfe@iod.com Web. www.iod.com/northwest
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