Plan for growth and stick to your guns, says Vanda Murray
LEADING North West businesswoman Vanda Murray says planning and strategic thinking must be at the top of the agenda for growing companies.
Mrs Murray, who holds a number of high profile directorships in and outside the region, including Manchester Airports Group, Carillion and chairs Vphase, the AIM-listed green energy poineer, was speaking at an event in Cheshire organised Odgers Interim, the interim management arm of the headhunting firm.
The event, entitled “The SME Boardroom – practical solutions to achieving growth”, also saw her pass on tips on leadership.
The former boss of Lancashire conservatory manufacturer Ultraframe said running a SME is “the hardest job around”, and while not suitable for everyone can be made easier if “careful thought is put into strategy”.
She said it is essential that plans and strategies are adhered to, and warned than may are “fearful of developing a cohesive strategy as they get bogged down with producing lots of models, plans and papers”.
Adddressing strategic growth she said: “It is about grabbing those opportunities, understanding your own strengths and how you can leverage them so you sell the right products to the right customers.
“You should be able to summarise your strategy on a single sheet of paper which everyone – including employees, suppliers, customers and investors – should be able to understand. Your strategy should be sufficiently clear that all stakeholders can buy into what you are trying to do. How you then do it is your competitive advantage.”
On what makes a good business leader, she added: “To create a strong commercial business, I believe you must be both values based, and numbers driven.
“Above all, never stop learning as you can always do better, never stop asking questions and have humility. Finally, enjoy your role as leading a team or an organisation is a privilege.”
Alex Lenihan, head of Odgers Interim SME (North West), said: “The SME sector is the very backbone of the UK economy so our aim at Odgers Interim is to continue assisting its growth and development. Listening to Vanda provided real inspiration and motivation in what is still a challenging environment.”
