business focus 35
Chartered accountants Haines Watts presents a series of articles based on its blogs. It offers analysis, reviews and comments and welcomes your feedback at
hwca.com/blog
of the month
What do many of the world’s most successful entrepreneurs have in common? A business mentor. Surprised? Don’t be, especially as they include the likes of Richard Branson and the late Steve Jobs. Passion, as important and inspiring as it is, sadly isn’t always enough to produce entrepreneurial success.
Don’t knock the value of a business mentor writes Barry Potter, partner at Haines Watts
For some entrepreneurs, actually recognising that they will benefit from having a mentor is half the battle. We’ve been running our Thames Valley Young Entrepreneur competition since 2010 and, because we realise how valuable a good mentor can be, we made free mentoring part of the prize.
Isolating yourself and thinking
that you are the only person who can possibly “get this baby up on its feet” is an understandable hurdle but, for every mistake you may make, you can be sure that there is someone out there who has already done it. A mentor will help you to not fall into the same traps.
As for finding help, it might be your accountant (who will encourage you to have strong foundations in your business at a very early stage), a professional “coach” or an acquaintance. Make sure you ask questions, listen to what people tell you in response and above all remain open-minded.
Extending your network of A night to remember
Thames Valley business leaders gathered on the eve of the longest day, June 21, for The Thames Valley Business Barometer summer reception held at Phyllis Court in Henley on Thames.
PR and marketing firm C8 Consulting, along with business advisory firm BDO LLP, hosted the reception where the latest findings from the spring 2016 Business Barometer were unveiled.
Guests gathered for a drinks reception which was followed by a light buffet in the Riverside Pavillion. Simon Brooker, head of BDO Thames Valley, presented the spring results in the context of past barometers and trends dating back to when the barometer was first launched in 2012.
The latest survey also looked at diversity in the workplace and Kasia Allan, director of strategy for the CBI, was invited to talk about diversity and its importance in the workplace. His talk was followed by a session hosted by Paula Elliott, managing director for C8 Consulting, who took a
few moments to look forward at what the Thames Valley could expect over the coming few years. She highlighted that there are a number of significant projects on the Thames Valley’s doorstep that are either underway or about to be started giving businesses in the region plenty of reasons to be optimistic. These include the Queen Elizabeth line (or Crossrail as many of us know it), developments at Harwell and Reading Science parks, regeneration in Newbury and a new London train line connecting Bicester directly with Oxford and London.
Elliott then welcomed the second guest speaker of the evening, Alok Sharma, member of parliament for Reading West to the floor who reiterated what a great and prosperous region the Thames Valley truly is. Sharma gave a rousing talk about opportunities and challenges ahead for the Thames Valley.
Towards the end of the evening time was given to celebrate and award the most admired
THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2016
contacts is also vitally important, especially when you have an issue and don’t have the answers to hand. As you develop your network, more often than not, you should find problems less daunting to tackle even if in themselves they’re complex and subjective.
Always remember that a great mentor will encourage you to be broad minded and to push the boundaries where necessary. He or she will no doubt hone in on your communication skills and your ability to work with others – because it’s not all about having a great idea, passion and talent. Being a successful entrepreneur also means that you have a fundamental grasp of your
business and have recognised that the experience of others can help you reach the next level.
For further information regarding this or other financial matters visit the Haines Watts' website.
hwca.com
HWYE competition details:
hwye.co.uk
From left: Paula Elliott, C8 Consulting; Simon Brooker, BDO; Gamil Magal, Magal Engineering; Dave King, Huntswood; Alok Sharma, MP for Reading West
business in the region. In each survey respondents are invited to nominate a business in the Thames Valley they admire the most. The companies with the most nominations are then put to a vote by the Thames Valley Business Barometer panel. Past winners have included Baxter Storey, Waitrose and the Ridgeway Group. This year there were joint winners, Magal Engineering and Huntswood. Huntswood is the UK’s leading specialist resourcing and consultancy firm in governance, compliance and complaints. David King, director of strategy, was invited to collect the award for Huntswood. Gamil
Magal, CEO, collected the award for Magal Engineering, a UK based automotive component and system supplier with manufacturing facilities in the UK, France, Turkey, India, USA and China.
Once the formal part of the evening had closed, guests went onto the upper deck of the Riverside Pavilion for further networking and to enjoy the remainder of the evening. For a copy of the full report visit either the BDO or C8 Consulting website.
bdo.co.uk c8consulting.co.uk
businessmag.co.uk
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