The E2E 100 Dynamic businesses celebrates those fastest growing private companies in the UK, based on turnover. Let’s just consider that for a moment.
What does it take to create and grow a business here in the UK to the point where you are not just sustaining your business, but leading it to become a shining success?
As someone who has bought back our family business and spent the last three years rebuilding and driving it forward, I have great admiration for all entrepreneurs who have the passion and determination to succeed. And I think that is the very heart of a dynamic business –entrepreneurial spirit, the desire to create and grow your own story, and the ability to inspire that passion in others.
But if entrepreneurial spirit is the heart of your business, is that all it takes? Or do you need some backbone too?
What makes a great business leader?
I have met and worked alongside many successful business leaders and entrepreneurs over the years. While there is always a mix of personality and leadership styles, I believe there is one common trait among them – the single-minded determination to achieve their goal.
Most, if not all, dynamic business leaders will show that same underlying focus, a fire to get on with the job, an overwhelming mentality that powers and drives them every day.
There are other characteristics. Entrepreneurs must be curious, willing to take risks and make decisions. They must be good leaders, and able to inspire a team to understand and value their goals. There is a difference in running a business where every member of staff is dragged along for the ride, or leading a business where your team are as invested in succeeding as you are.
Running your own business is a risk, but the people who succeed are, in my opinion, the ones with a dream. They have an idea, and the determination to see it brought to life. And they understand how they can bring other people in to see their story.
Creating the right landscape for entrepreneurial flair
Entrepreneurial flair drives Britain. We are a nation that generates start-ups. If you are a person with that fire and determination to succeed, we can’t wait to get you started.
But do we have the support and structure in place that helps a start-up level up from beginner to success? To do that we need a government that creates the landscape that encourages, nurtures and supports fledgling businesses. I am not sure we have got that right just yet.
To grow a business we need training opportunities, learning and development, increase the skill sets of the employees. New businesses require investment and to be able to use all available funds to support their growth. Which means that to create a landscape for entrepreneurs to succeed, we need to give to them, not take away.
Unfortunately, the landscape in Britain right now poses problems for a developing business. There are issues with the supply chain following Brexit. Government policies, such as increasing corporation tax, all create more pressure rather than providing support. It can feel like businesses are being penalised, and it is frustrating.
However, while a more supportive landscape would be helpful, ultimately it is down to individual business owners to create the path to their own future. Entrepreneurial spirit still thrives, despite rising costs. According to a study by digital agency Koozai, record numbers of new businesses launched in 2023.
While some will drop away in their first or second years – that is the nature of the beast after all – others will stay and some will thrive. It will be interesting to see how many of those are led by individuals with that fire to get the job done.
Building the backbone into your business
And so, we have the right leader, and a landscape in which to build a business. I believe that there is one more vital part needed; a strong, invested backbone in your business. A solid team who see the company as an opportunity and are aligned with you on the challenge ahead.
Over the last three years I have found that to grow Lioncroft, I needed a clear idea of where I want the company to be. Then I had to sell that idea convincingly, making sure that each one of the 200 people working for me were all on the same journey.
To me, the crux of building a successful business is the passion that we create in our people. I am inspired by my team, as much as I aim to inspire them. I truly believe that every member of the team shares my passion and wants to be a part of the Lioncroft story. And that is a testament to the culture that we have built here together.
We have created our culture around our values of HOPE – Honesty, Opportunity, Purpose and Energy. We recognise that, ultimately, every person in the building is here because they want to do better for their family and hope for a better tomorrow. The first step to achieve that is by making a better future for themselves.
At Lioncroft we believe that if we take care of the families first, the business will take care of itself. We are a family business and, while it sounds like a cliché, our employees are our family too.
We make sure everyone feels supported during their working day, but we also take that outside of business hours too. If they have a family crisis, we give them all the support they need to cope. We have a helpline employees can call when they want privacy. We have an open-door policy on every office, and we pay market leading rates.
We prioritise families and in return our employees care about our business. To me, that is the true secret of creating a successful business. Culture creates the backbone of your business, and that is what will lead to you becoming a dynamic 100 company.
You can view the complete E2E Dynamic 100 track here.