At our March FD event we focused on ‘Growing Businesses’ and had a presentation from Dave Wilson, Finance Director at GB Group & winner of
- North West Finance Director of The Year, 2012
- Quoted Company Awards – Finance Director of the Year
- HOT 20 FDs in TMT
who shared his experiences of growing businesses.
GB Group are identity management specialists who can verify 3 billion individuals globally to know your customer (KYC), anti- money laundering (AML) standard as well as age verification.. In his role as FD Dave has led the company to increase market capitalisation from £17m to over £100m in the last 4 years.
Dave’s motto to achieve success in growing a business is “Perform @ Ur Best” which he went on to break down to the key areas to focus on to achieve business growth and success.
- Perform – Maximise your peoples strengths
– Recognition and rewards
– Focus and fun
– Operational performance measures – bonuses, incentives
– Reins off – allow people to perform, encourage accountability
– Monitor to achieve mastery – manage, monitor, measure
- @ UR – Business tool kits
– Activity based management – spend your money on areas that customers are prepared to pay for or add value
– Utilisation – invest in technology, resources, automation
– Resources (technology and people)- optimise your resources
- Best – future into actionable present
– Budgets / Forecasts – Forecasts should be used for decisions making, and cautious enough always to be beaten if only by £1, Rolling determine where the business is going.
– Targets – set 3-5 year targets for revenue and revenue growth, and operating margins (and operating margin %)
With his 27 years international and operational board level experience, predominantly in Technology, Media and Telecoms Dave’s credentials speak for them self and his take on how he achieves growth was insightful for fellow FDs and business owners at the event.