Building Businesses From Ideas

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  • 1. [email_address] www.pembridge.net www.pembrideasia.com Hugh Mason Partner, Pembridge Partners LLP (UK) Director, Pembridge Asia Pte Ltd (Singapore) Building Businesses from Ideas
  • 2. Pembridge Founded 2001 to help owner-managers of creative businesses to build and release value in their businesses. We help someone become a millionaire every 4-8 weeks. In total: five partners + eight staff + 20 regional associates. People who have ‘been there before’ in Music, marketing services, TV, Film, Design … US$ 50m+ raised/invested , 50 current engagements across Creative Industries Active in Singapore, UK, Netherlands 1,800+ companies engaged
  • 3. Coming Up
    • Ideas Businesses
      • What is an ‘Ideas’ business?
      • Are ‘ideas businesses’ special?
    • The Early Years
      • How businesses start
      • How businesses grow
    • Coming of Age
      • Attracting an investor
      • Letting go
  • 4. Part 1 ‘Ideas’ businesses
  • 5. Fuelling the ‘Knowledge Economy’ Science $ Products & Services Culture Research Innovation Creative Industry Art Technical IP Aesthetic IP
  • 6. The right vehicle for the journey
  • 7. Businesses: vehicles for ambition Urge 1: Do great work Cultural Wealth Work focus Urge 2: Build a better world Social Wealth Workplace focus Urge 3: Make money Economic Wealth Market focus Perhaps 5% of SMEs
  • 8. Part 2 The Early Years
  • 9. Most businesses don’t grow The number of businesses in the larger turnover bands falls rapidly Turnover => Number of Firms =>
  • 10. The challenge of growth Most small businesses scratch a living down here This is where the good stuff is In between there is an uncomfortable journey
  • 11. Maturity High Medium Low Micro Small Medium Large Size One model of business growth Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7
  • 12. Foundations for growth: a team
    • Every business needs:
    • A Finder
    • A Minder
    • A Grinder
    CEO / Commercial / Sales Director Creative / Technical Director Finance Person Operations Person
  • 13. Foundations for growth: plans
    • Some operational plans
    • Sales funnel
    • Marketing plans
    • Staff development plans
    • Cashflow forecasts
    • Some strategic plans
    • Exit / succession plans
    • Plans to set goals
    • Plans to build value
    • Plans to merge/acquire
  • 14. Operational process: a sales funnel There needs to be a steady stream of possibilities coming down the funnel to ensure that production resources are kept busy. That often means concentrating most on sales when the delivery team are busy!
  • 15. Part 3 Coming of Age
  • 16. Strategic planning: setting goals
    • PERSONAL GOALS
    • Why are you doing what you do?
    • What’s your idea of success?
    • How much risk/certainty?
    • CURRENT POSITION
    • Where is the firm now?
    • What makes it special?
    • How is it selling itself?
    • FUTURE SCENARIOS
    • What credible futures might be possible?
    • What would the pros and cons of each be?
    • What would it take to make each one real?
    • SETTING THE FIRM’S GOAL
    • Which scenario offers the best match to the team’s personal goals?
    • VISUALISE THE PLAN
    • Create snapshots of the firm’s future
    • projects, money and people for each quarter over the next 3-5 years.
    • MAKING IT REAL
    • Identify the partners and resources needed to make the plan real.
    • Commit to execution.
  • 17. Attracting investment
    • Investment in what?
    • Projects might – or might not - be golden eggs
    • Growth businesses keep laying golden eggs
  • 18. Inside the investor’s head risk reward
  • 19. Investors are conservative
    • Traditional business
    • Tangible Assets
    • Can see where the money’s gone
    • Ideas business
    • What have I bought?
    • If it doesn’t work, what have I got left?
  • 20. Maturity High Medium Low Micro Small Medium Large Size Financing the stages of growth Clubs Level 2 Artisans Level 1 Freelancers / pre-start-up Level 0 Value Growers Level 4 Value Creators Level 3 Acquirers Level 6 Value Realisors Level 5 Public Companies Level 7 Company Valuation Time Risk FFF Self / Debt/ SFLG Angels VCs Stock Mkt
  • 21. Six Golden Rules for your Exit
    • Set ruthless targets
    • Do a reality check.
    • Be transparent
    • Rein in the Big Ideas
    • Stop pitching, start listening
    • Make sure the faces fit
  • 22. [email_address] www.pembridge.net www.pembrideasia.com Hugh Mason Partner, Pembridge Partners LLP (UK) Director, Pembridge Asia Pte Ltd (Singapore) Building Businesses from Ideas