Media Moguls

Last week I went to an event concerning the media! It was a very sociable affair with a delicious breakfast. Yet amid this Christmassy gathering a more serious message came through. As most people will be aware the media industry is going through substantial change and keeping up with the changes means dramatic restructuring which is both costly and untested made worse by a recessionary context. But the Guardian newspaper spoke wisely and offered lessons that all business can take on board. Industry change (whether happening in the recession or not) does not always have to be built on pessimism or fear. Change in an industry is not a bad thing, rather change is a sign of progression and industries that want to survive must progress. Change often feels bad but that is because change is unknown and with the unknown comes risk. The media industry is a prime example of an industry that has had to deal with change for hundreds of years and has embraced it; the arrival of radios, the transition to television and the shift to web 2.0 not to mention the endless list of VHS’s, CD’s, DVDs, Mini Disks and now the ipad!

During an intense panel discussion several media moguls highlighted that many businesses are facing up to change only now while trying to pull through the recession. Instead of holding steadfast and riding the recession out, whole industries (notably the media) is restructuring. They stated that this is because in the good times it is easy to carry on as before (with the same budgets, strategies, people etc.) and not face up to the big decisions facing them. But in bad times there is no option but to face up to them as there is nowhere to hide. I think that change for value adding growth should be continuous. Firms should always be adapting and changing. Change encourages progression, competition and therefore productivity. No firm should be content standing still, they should always be evolving, growing and adapting.

They then went on to talk about the tough choices that are being made at the moment, one of them being how do you monetize web content? One newspaper said that they were exploring all beneficial relationships and partnerships that would act as network externalities for one another and prevent the consumer feeling the pinch. This highlights that during times of change there are always positive routes to take which may not immediately be obvious and the obvious is not always as it seems.
I left the event feeling lifted; it’s wonders what positive thinking and a few flowery shirts with overtly bright ties can do on a cold winters day!

Fashion, Finance and Real.

Britt Lintner runs her own fashion label on the side of working for a fine arts fund in London. In 2006 she was voted one of the UK’s ’35 Women Under 35’ and Harrods have just agreed to stock her Spring/Summer Collection this December.

I met Britt a few months back at a business school convention and I immediately decided that I would never eat chocolate ever again if it meant I could look like that in my thirties. She kindly said that she would come and speak for Cass Women in Business, which last Tuesday she did.

Arriving after a full day’s work, Britt happily talked to a room of 90 about the highs and lows of having a dual career. She told us her story; being young and determined she went straight into banking, working at Lehmans for eight years. At 30, with an executive title, she hit a personal wall. She said it was (and still is for all of us) so easy to fall onto a treadmill and forget what it is that you really want to be doing. With that in mind she quit, ‘I went cold turkey’! ‘Everyone thought I was nuts but I didn’t want to wake up in twenty years time and regret not having done what I wanted’. So, at 32 she did exactly what she wanted to and has not turned back since. Britt went to Southbys and did an MA in fine arts before going to a fine arts fund. During this period at Southbys she cleared out her old work clothes and while doing this realised that simple, sexy, timeless, easy to piece high end work outfits for women just didn’t exist in London. Being a self confessed clothes junkie she said there was no option, she just HAD to start designing such clothes.

Britt bought fabric in Soho, she asked her local dry cleaner to help alter her clothes, and put up ‘pattern cutter’ signs in local schools until one day someone’s nanny came forward to help. Soon her house was full of mannequins and material. Her initial customers were her friends and gradually the business grew. Now Sarah Brown has been seen sporting Britt’s dresses, the brand has been awarded 'Brand of Tomorrow' at a Warpole association and she has a showroom in Holland Park. But money and success for her fashion business was never a driver, just sheer passion. ‘Your business is your baby, you have to love it’ no matter how tough the going gets. She works on her clothes every evening (often until 1 or 2am) after getting home from the city and spending time with her children.

How does she do it? Britt says she does not believe in ruminating, opportunities don’t come to you; you have to go get them. We spend so much time worrying about stuff, if something big comes along, no matter how terrifying, hit it smack on. You feel so much better afterwards. And this can be said for anything, even the smallest of worries. She stressed that it is so important to just ‘be yourself and don’t try to fit in’, that way you’ll be satisfied with what you achieve. She has learnt to compartmentalise; put 150% in each compartment in your life, but don’t let them over lap otherwise you’re splitting that 150% up. It is also important to surround yourself with like minded people and value them. Learn the power of ‘no’ and be organised. And finally have flexibility, you cannot operate without it.

Britt told the students that despite the downturn there are so many opportunities to take advantage of; digital, environmental and healthcare are just three that sprung to her mind. So for those that are still down heartened by the doom and gloom don’t ruminate, seize any opportunity. And with that she wrapped herself up in a vintage fur coat that even SJP would be jealous of and left the building.

Serving it up time after time.

The other month I popped my head into the Ledbury, one of London’s two Michelin star restaurants, not to eat but just to ask if I could interview the Australian head chef Brett Graham. The answer was a much welcomed ‘of course, no worries mate’. At the age of 30 Brett runs this creative ‘up and coming’ restaurant alongside his gastro pub the Harwood Arms (which was also awarded its first Michelin star in 2010). The reason I wanted to interview Brett was that like most Michelin star restaurants, his restaurants are known for ‘consistency and quality’ so that each and every customer has the same valuable experience again and again. This must be by no means an easy feet as the industry is notoriously characterised by a high risk and high pressured working environment with a volatile and uncertain nature. I was interested in how Brett manages to consistently produce the dishes in such a difficult context time after time.

If you think about it an haute cuisine restaurant is fully reliant on innovation and the ability to be creative. Restaurants become famous for signature dishes, such as Alain Ducasse’s Cookpot or Heston Blumenthal’s (slightly strange) snail porridge. The invention usually comes from the head chef who creates a unique dish in the quiet times between services. But what was intriguing me is how that specialised (and usually complex) dish is then passed to a team who work by hand to collectively replicate it on a larger scale in an environment of perfection where the pressure is up, the risk is high, the time tight and there is no room for error. I personally find it hard not to singe the toast at breakfast! It seemed to me that replication to consistently capture value was as important as the ability create value in the first place.

I settled down to a cup of coffee with Brett on the terrace at the Ledbury. He was particularly excited about the fact I brought my dog Poppy along and despite that she is a fully grown Labrador he insisted that she sat on her own seat at the table with us. During the interview I learnt that Brett’s gastronomy is classical with a ‘modern French twist’, so you can expect to find delicacies such as Poached Breast and Confit Legs of Pigeon or Raviolo of Rhubabrb with Buttermilk and Hibiscus. Hailed as the London haute cuisine ‘winner of 2010’ Brett and his team’s ability to ‘consistently cook at a high standard’ for each and every individual over the last four years has placed him in the very top rankings of London’s haute cuisine field indicating the presence of strong replication processes. Brett explained to me how the restaurant is operated and it came across that there are three key interrelated elements needed to set the process for efficient replication in motion; leadership, a ‘top’ team and a fine tuned structure. Leadership is a necessity for the other two factors to work. A top team cannot replicate without strong leadership and structural organisation offers nothing unless it has been organised and then managed by someone. Leaders must be able to talk and relate to every member of their team at an individual level according to Brett. One on one time between leader and a team member is so important to build trust, inspire and motivate. A strong team is also must, not only because the work in a kitchen is done collectively but also because team spirit promotes motivation, drive and openly allows for the passing of knowledge and passion. In particular it creates respect for each other and from this the team can recognise each others’ strengths and weaknesses and are therefore able to support one another when needed. Within the team designated roles provide focus for team members in a chaotic environment and the repetitive actions of these roles increase levels of precision and reduce error and wastage. Role rotation stimulates ambition through the opportunity to learn new skills and thus raises output. And finally, structures in both the organisation and the product are to a point standardised to increase speed, precision and reduce risk, yet they also allow for flexibility to account for uncertainties and be able to adapt to meet the customers’ needs exactly as and when to offer that extra little something. (For me this addresses the common assumption that standardisation and creativity have age old tensions, but in fact if used correctly it seems, certainly in this case at least, that they can enhance one another).

As I finished my perfect cappuccino and plate of delicious petit fours I came away having learnt from Brett’s insight that these three elements, if adhered to in a creative industry such as haute cuisine, can mean that an innovative, mouth watering, and value adding dish can be served up time after time. I wonder if this could be case for other industries.
Note: A special thanks to Brett and his staff for taking the time to help

Staying close to your 'paw'.

My local veterinary practice is fantastic, I love it and I think my dog even loves it! The practice is small, fresh and simple offering fair prices and top treatment. There are no dramatic window displays or pet accessories for sale (thank goodness) but they offer dog food which if you order two days in advance they will bring to your door! The vet is a well established professional with a faultless career path. He is passionate about animal medicine and is a specialist in animal behaviour. In his mid sixties the friendly practice rings of professionalism. His other members of staff consists of a practice manager and his wife, the veterinary nurse – oh and Shaggy, the gentle old resident terrier. This practice is located right off Westbourne Grove, one of London’s most popular neighbourhoods and near to both Hyde Park and Holland Park.

The rival competitor to this practice is located in another nearby neighbourhood close to one of London’s popular dog walking parks. It has been there a good few years, its window displays show off the latest pet accessories while its vast product range rivals Harrods’ pet department. There is nothing that you cannot get in there to cater for your pampered pooch or fluffy kitty, and, best of all it all comes wrapped in a bright blue and pink bag. The young staff members are good at looking after their clients and are well trained in terms of customer service being smiley, friendly and relaxed yet treatment is expensive and their medical reputation occasionally a bit hit and miss.

What I love so much about my vet is that it (unlike the other) does what it says on the can. Honest, simple and good. It is a really refreshing experience. I have never come out of that place kicking myself for picking up an unnecessary piece of dog equipment or kitten entertainment gadget but always leave feeling well treated and that I would definitely go back again. I think that is something that can be taken on board in a business. Not losing sight of your core, keeping things simple, honest to your clients and saying it exactly how it is can definitely lead to better service, higher levels of satisfaction and longer lasting customer loyalty.

Top to toe in diamonds and a tall dark and handomse twenty something year old - a night at the opera

Last night I went to Glyndebourne for the first time ever! For those of you that don’t know it; it’s beautiful opera house which is set in the picturesque garden of a rural mansion. I squeezed into an old full length ball gown that I had lying dormant in my wardrobe, popped on a pair of stilettos and decorated myself head to toe in as much glitz as I could lay my hands onto. Smokey eyes, big hair, one of my mother’s pashes and I was set to go! On arrival I was met in the garden by a tall, dark and handsome twenty something year old who plied me with pimms and smoked salmon before walking me through the mansion to our seats in the opera house. The lights went down, the overture started and the first scene started with sex and scandal! We picnicked in the interval sitting in the twilight garden; red wine, cold slices of beef and new potatoes followed by a wicked chocolate desert. The second half flew by and before I knew it I was sadly saying good night to the opera house strolling slowly back to the car.

It sounds romantic, but I can tell you it was far from it. You see of course, none of this would have happened without the funding, providing of the picnic and chaperoning of Rupert’s Godfather and my mother. Despite all its glory and glamour we were the youngest people there that night. But I know that given the chance nearly all of my friends would have loved to come. The opera we saw was Don Giovanni; an opera about sex, rape, murder scandal and love - it beat Eastenders hands down! With fire, blood and drama this opera was perfect for teenagers and twenty somthing year olds. Picnicking was like eating at an upmarket festival; the atmosphere electric but the food substantially better and the wellies swapped for heals.

The reason for the lack of young people at many opera houses is because of the industry's niche and exclusive target market; professionals and the very wealthy. Tickets are therefore priced extraordinarily high. The knock on effect of this is that younger generations tend not to go and the opera is often now seen as intimidating, intellectual and frightfully posh; which it really needn’t be.

Glyndebourne however have recognised this. They are aware of a host of opportunities in this industry and have recently put on special productions that put young people and the community at the centre. Sixth formers sing and play alongside leading opera singers. The aim is to find new talent and to reach out to teenagers. They also have an education scheme that offer opera workshops, a youth opera and cheap tickets!
Focussing on new customers like this has ignited flare and buzz and in turn could pave the way for new innovative productions, push productivity frontiers outwards and potentially raise the industry to a new level!

‘Don’t lose that Golden Thread’ – Women in Business

Speakers at the conference include the awe inspiring: Dr Heather McGregor, Principal Shareholder at Taylor Bennett and Newspaper Columnist; Mireille Guiliano, ex-CEO of Clicquot, Inc and Author; Dr Nighat Awan OBE, Entrepreneur and CEO of Shere Khan Group; Dagmar Chlosta, VP Processes and Systems Solutions, Adidas; Puja Turner, Director Debt Capital Markets, Deutsche Bank; LaVerne Council , Corporate VP and CIO, Johnson and Johnson
A couple of months ago I was lucky enough to attend London Business School’s annual Women in Business Conference, and I have recently stumbled across my conference gift pack in which I found a pile of notes that I’d scribbled down throughout the day. Don’t get me wrong, I am not a diehard feminist, despite what the title of this article would suggest. In fact I would say I am the very opposite. Nor was this conference a feminist crusade, rather it was an informative day with key speakers being women. These women had led interesting careers and shared advice and experiences which could be helpful to everyone.
The day started with an informal breakfast (where the fruit platter disappeared in seconds and the pastry plate remained untouched) followed by a series of talks. Discussion circulated around the big changes that will take place in the business world over the next few years and the implications that it shall have on us. It was unnerving stuff as I learnt that urbanization will dominate, isolation shall occur for those that don’t keep up with social technologies and be exempt from global knowledge (a by product of both globalisation and social media), and due to an ageing population we shall find ourselves working into our seventies! However, despite these daunting predictions there are upsides; as zimmer frames enter the work place it is predicted that work environments shall become more humane, flexi working will increase and talent pools grow. My only thought on this is where exactly will we all fit? Can we squeeze another generation from 65-70 into the work place? Practically speaking will there be enough desks and jobs and if not who will be the trade off for the cohort of elders?
With my head spinning on thoughts about the future three panels of interesting speakers provided a breath of fresh air. Their over arching advice was no one should feel constrained in what they do, there are no set rules or career paths to take. Learn from unconventional teachers, Lorella (founder of the Jamera Khan group) said she learnt from Asian women, and if you feel the need to cross boundaries then do because the work place shouldn’t straight jacket you. Forget any notion of glass ceilings (very wise words) as there is a ‘fit’ for you. And I agree with these words. Business is something that continually evolves, it isn’t static, and change (no matter how much people fear it) is good, it keeps things fresh. Innovation, creativity and satisfaction comes from crossing boundaries and moving forward, ideas should bounce of others and progression should be made from learning from a host of experiences (even family dinners round the kitchen table!). This is maybe something that we all tend to forget, it is very easy to become stuck in your ways pushing the productivity frontier in a straight line outwards.
In climbing up the career ladder people can easily lose sight of the big picture as well as themselves. It is very easy to morph into something with big blinkers. As the panellists wisely said, ‘Don’t lose your golden thread’. This is a thread of authenticity that runs in your inner self. By that I mean it is what makes you tick, it is what you love and what shapes you so it can be anything from culture or theatre to social issues or politics. It is therefore vital to ‘be you’! We waste too much time judging ourselves and looking at the world as hierarchical; hierarchies can make leadership a lonely experience. So, as Laverne Council told us remember to be fun, allow others to be and don’t straight jacket yourself or anyone else. Most importantly don’t forget ‘you’ time, it’s the one many of us forget until we burn out. By remembering what it is you aim for you can be better focussed. I think that this is guidance that individuals and businesses can take on board. There is a need to remain focused, to not over complicate and to keep a check on what you are turning in to – something that perhaps the financial district forgot to do in 2007.
After further cups of coffee and a buffet lunch I left the conference with opened eyes. One resounding comment made by Heather Graham that day particularly stuck in my head; ‘be careful as to who’s heads you tread on on the way to the top, because they’ll be linked to arses you kiss on the way down’!

SHADWELL OPERA

I've always been interested in entrepreneurial activities and the success stories that surround them. But I'm not interested in just the Big Names who have made it! All start-ups start small and they all start somewhere! That's why I've taken the opportunity to look at Shadwell Opera.

Shadwell Opera is a company that is founded and run by some very bright Cambridge students. The students are nearly all in their final year and despite having finals looming around the corner, they have managed to put on a spectacular opera in the last week. The production, Britten's 'A Midsummer Night's Dream', epitomises what Shadwell stands for; unique, accessible and affordable opera to cater for the younger generations.

A Midsummer Night's Dream, like the company's other productions, was not performed in a grand opera house or on an elaborate stage. Instead it was done in a small and atmospheric church (their previous production was performed in Rosslyn Chapel). Their budget was minimal and their set was scant (if nonexistent). Yet the atmosphere, reliant on mood lighting, costume and music ensured that the audience were taken away from the sense that they were watching an opera but rather that they were in the opera itself. Fairies and Nymphs circulated the church while Oberon, Lysander and other lead parts found their way through the forest by walking amongst the stalls.

What was particularly unique about this production is that the forest was set in the fields of Glastonbury. A characteristic of Shadwell is that they do opera differently; they dust down opera and refresh it. Their production of the Magic Flute saw the Queen of the Night dressed up as Amy Winehouse! What's more they always make sure their opera's are performed in English. The script of the Magic Flute was that of Kit Heskith Harvey's, who has since then been a kind of artistic mentor and loyal supporter of the company.

They seek their singers from the world renowned college choirs, using the very best from them. They have recently also sought recent graduates who have moved further afield to world class music schools such as the Academy. Not having 'big names' ensures that the audience isn't detracted from the opera itself and puts the production (rather than the star) at the forefront of their minds.

Finally, the prices are wonderfully cheap and because they are so cheap every production they have ever put on has been sold out! Despite having performed all the way up in the deepest darkest depth's of Scotland!

The small firm has not gone un-noticed having been recognised by the Financial Times, Telegraph and Herald!

 

Some traits about the way this company runs;

These students are do-er's, not dreamers. In one year and three productions down the company has been recognised by world renowned newspapers, they've won a prestigious award at the Edinburgh fringe, are planning to head to New York and have a brilliant little website packed with information not only about themselves but where they seek their inspiration (http://shadwell-opera.tumblr.com/).

The company has a niche – maybe without realising it, Shadwell opera has created a "blue ocean". They have found market space and have drawn on the best of the opera world and popular culture, creating a unique strategy canvas.

Despite its success Shadwell Opera is faced with the challenge as to how it can grow out of a university setting? Where will they seek funding and how should they do it? What will happen to those involved? How can a small company like Shadwell grow without damaging itself? These are tough questions and ones that have certainly got us thinking.

http://shadwell-opera.tumblr.com/