GARY LUMBY MBE FCIBS MANAGING DIRECTOR What is the similarity - - PowerPoint PPT Presentation

GARY LUMBY MBE FCIBS MANAGING DIRECTOR

What is the similarity between a shopping trolley and a NED

Journey of a NED

• Benefits to Business
• Attributes needed
• How to become a NED

Why do SME’s need a NED?

Time – owners and directors do not have enough time to undertake all the activities that they know they should when running their business. Knowledge - they do not have all the skills and knowledge required in some areas of business – no one does of course Finance - they do not have endless amounts of cash to spend on hiring additional full time resource or on consultants. An external perspective - this is often missing from their business and this creates missed opportunities and leads to wrong decisions being taken. Regulation - they often are challenged by regulatory and macro-economic changes Growth - they are not always able to grow their business as fast as they want.

Provide a part time Executive level resource to support current management team

• Meeting existing clients to assist in relationship

building and up-selling.

• Meeting and introducing prospects.
• Undertaking presentations to clients and prospects.
• Attending networking events on clients behalf.
• Running, attending and speaking at seminars and

conferences.

• Marketing Strategy– On and Offline, branding and

design including vision and values creation.

• HR - including recruitment, performance

management and reward systems.

• Negotiating with professional advisors and

suppliers.

• Negotiating and advising on funding structures.
• Overview and critique of financial performance.
• Strategy and business planning.
• Corporate governance and risk management.
• Assisting in acquisitions and disposals.
• Coaching and mentoring of management and

staff.

• Exit and succession planning.

Provide a part time Executive level resource to support current management team

Benefits

• Provide expertise that SMEs do not have or

cannot afford.

• Cost effective additional resource at exec

level.

• Adds credibility and professionalism to the

management team.

• Extensive contact base for introductions

and additional sales.

• Access to alternative funding sources.
• Improves or implements Corporate

Governance processes.

• Credit Risk Ratings improve
• Suppliers and potential clients confidence

increases

Benefits

• Challenges Directors, Owners and Management.
• Identifies cost reduction strategies including sourcing new

suppliers

• Helps management makes difficult decisions.
• Coaching of senior management team.
• Training provided to staff such as sales training, client

referral marketing and effective networking.

• Introductions to existing client base and contacts for new

customers and sales opportunities

• Provides external view of company separate from existing

management.

Attributes needed – 7 Habits

• Be Proactive
• Build Rapport but challenge
• Resilience and Persistence
• Positivity and Passion
• End in Mind – goals and objectives
• Be Present
• Connect People

How to build a NED portfolio

• Start planning early
• Build a large contact base of business

relationships both private and public sector

• Continuous personal development
• Target your ideal client base – PLC V SME’s
• Have a clear Customer Value Proposition
• Build an evidence database of success
• Start networking

How to build a NED portfolio

• Start with a Voluntary role eg Charity / Third

Sector

• Use a recruitment/ search consultant
• Join a NED organisation such as In Touch or

NED Connextions

• Consider taking IOD Director qualifications
• Be clear about your price point and why it is

correct for your target market

• Register a company , build a web site and

have marketing material available

How to build a NED portfolio

• Use social media to tell your story and promote

your capabilities

• Seek testimonials
• Have a clear methodology for assessing the

potential to help clients – Diagnostic

• Don’t ever charge for first meetings/ information

gathering

• Agree scope of works and what success looks like
• Easy in and easy out contract
• Build Rapport and make a difference
• Be positive and proactive – create value

In Touch Network NED Survey 2019

• 45% of NED’s found work via networking and

16% via referral

• Charities 15% / Healthcare 12% / Education

12% / Construction 7%

• Average period 2-4 years
• Average remuneration £11-20k pa
• Key skills needed – Sales and Marketing /

Finance / Governance

ANY QUESTIONS ? Gary Lumby MBE FCIBS Managing Director Focus on Success Ltd 07500116507

www.focus-on-success.co.uk