A bespoke programme for private SMEs

Aside

A bespoke growth programme for ambitious private companies.

ELITE is a platform of unique provenance designed to help the UK’s ‘most exciting and ambitious’ private companies prepare and structure for their next stage of growth.

Launched by the London Stock Exchange in 2014 and delivered in collaboration with Imperial College Business School, this programme – for the UK’s hi-growth private companies – is a veritable hothouse for growth.

Like other such programmes about which I have written recently, it is an extended programme of periodic meetings – this one an eighteen month, three part programme, consisting of education, discussion, business support, mentoring and access to entrepreneurs and business leaders as well as to the corporate advisory and investor community.

In the UK it comprises two cohorts a year, each of 15-20 companies (chosen for their growth potential) – the seventh cohort just starting; and involves seven modules of intensive meetings at the London Stock Exchange, each of one to one-and-a-half days, every eight weeks – normally for the CEO and the CFO.

The dominant theme is (not unexpectedly) capital. Other main themes are: strategy, talent and other key resources, governance, marketing, and packaging one’s story.

Get ready This section – of 8-days broken down into four modules, is aimed at providing participants with the operational skills –initially to review and reflect – about visibility, productivity and efficiency, and about cultural and organisational change.

In the Get Fit phase, all the suggestions and guidelines raised in the first phase are put into practice. Using a self-assessment test, the company can identify the areas for improvement to work on, and have the support of a group of professionals tailored to the specific needs of the company to consider how to embed changes in the business.

 Get value With the help of a select community of investors, professionals and companies, the participants will be engaged in initiatives for moving forward, such as exploring new funding options and new business opportunities – designed to boost the brand and ranking with investors, suppliers, customers and other stakeholders.

The ELITE programme was first implemented in Italy (where it also runs) in April 2012 and has now expanded all over Europe. Some 500 companies have participated in ELITE programmes across Europe, with an advisory and investor community of over 250.

John Whatmore, November 2016

 

How do other programmes compare?

All ‘scaleup’ programmes tend to be for small groups of senior executives in SMEs; they focus on key aspects of growth, and are structured for mutual discussions plus input from experts – at regular, usually monthly meetings over twelve months. (The following have all appeared recently on my website, http://www.johnwhatmore.com)

The Judge Institute’s SME Growth Challenge – a series of six bi-monthly workshops for CEOs of about a dozen hi-growth SMEs, delivered over 12 months – aims to develop each firm’s managerial capability.

The RBS/UCL Growth Builder programme is a 12-month programme for 48 growth companies to meet monthly, alternating between the provision of input and small group working, with meetings rotating around the premises of the numerous and various contributors.

10,000 Small Businesses is a programme offered by 5 UK universities for cohorts of c70 SMEs to develop growth plans. They meet together – in three separate session, each at a different location, with online learning between those sessions, and over the course of 30 days.

Plato, started in Belgium and now widely franchised throughout the world is for groups of c.15 senior executives from matched small companies – to meet regularly – each group with a couple of mentors from large companies – to support and help one another with their current issues.

Vistage, originating in the US, puts together groups, each of about a dozen senior executives in SMEs in the same local area, matched as far as possible. Meeting on each other’s premises, monthly or bi-monthly for a day at a time, they focus each time on the work of two or three members of the group.

‘ella forums’ is a leadership development programme designed to inspire growth in social enterprises, in which CEOs come together for monthly sessions, where they hear the latest thinking from guest speakers, share best practice, and receive coaching from experts.

 

 

Advertisements

Managing support for early-stage ventures

Aside

Managing support for early-stage ventures – a fast emerging role
In Silicon Valley support is everywhere, and it is increasingly immanent in London’s entrepreneurial world, with some high profile examples – promoted by a new breed of support managers. But there are other areas where it is still a distant prospect. Join us in exploring how best to manage support.
Next week: The Future of Innovation – nuggets from the Deloitte Annual Survey of organisations’ views – about how they will do it and what kinds of things they will do.

.
The most distinctive features of Accelerators (as short periods of intensive development for small groups of early-stage ventures) are the proactive nature and the amount of support that they provide for the businesses they nurture – especially in the form of mentoring (in many programmes mentors are in a ratio of at least half a dozen per team), yet many startups and SMEs even in Incubators and Science Parks are lucky if they have a single one.

Mentors tend often to be appointed simply because they provide a hand to hold, so is it failure to match mentors to individual needs that holds mentoring back? While the Business Growth Fund normally appoints a couple of Directors and then on their advice from time to time finds appropriate experts, advisers and mentors (http://wp.me/p3beJt-ak), the London Stock Exchange has launched its Elite programme of support with Imperial (http://www.lseg.com/elite), one or two VCs like Octopus Ventures (http://wp.me/p3beJt-ap) have evolved sophisticated regimes of support; and Accelerators like Startupbootcamp (http://wp.me/p3beJt-8N) and Bethnal Green Ventures (http://wp.me/p3beJt-2i) are highly proactive in the management of their mentors and of their programmes.

One of the most telling accounts that I have written recently has been about what startups in Accelerators said they valued most (they cited: supervisory facilitators, proximity to their fellow travellers, access to their various mentors, and the inspirational speakers they met (http://wp.me/p3beJt-a7)). I am running a project whose aim is to learn more from those on the receiving end about what it is that works best in terms of support for early-stage ventures – e-mail me if you are interested to participate.

Entrepreneurs may be passionate and determined people, but they do not necessarily know what they are missing. The managing of support is a new role: it entails keeping in very close contact with developing businesses, understanding what might help them at different moments, the ability to corral a host of potential supporters, and to bring supporters and entrepreneurs together successfully (see http://wp.me/p3beJt-9R).

Help us! We are looking at ways in which people who play this evolving role can contribute their experience to its development – on topics such as building a bank of supporters, identifying startups’ needs, finding specialised experts, matching mentors to startups, curating cultures of inclusivity, and programme management. If you are interested to participate in this, please e-mail me.

John Whatmore
March 2015-03-20
john.whatmore@btinternet.com
http://johnwhatmore.com