In Business growth and finance, News

The power of three

Having spent years helping businesses grow and trying to come up with a simple formula that when applied could have a profound positive impact I developed the ‘power of three’ approach that I now champion.  Effective communication, collaboration and celebration are the backbone of success irrespective of whether this is in a personal or professional setting.

When the power of three is applied constantly and consistently I’m a firm believer that we can achieve anything. I attended an event recently that demonstrated just that. The Growth Hub Provider Network, organised by the North East LEP, took place in September and was a great example of business support providers coming together to offer the best possible business centred solutions for companies in our region.

Why do I think communication, collaboration and celebration are critical to creating success in the North East?

Communication

By communicating with and understanding each other more, businesses can complement one another’s activities and create a thriving, successful economy. At the Growth Hub Provider Network, this was exampled perfectly during the pitch session – where business support providers had just two minutes to describe what they do. With this quick overview, other providers could understand where each other fit in terms of the overall environment for support and work more closely together to provide the best help for North East companies

Collaboration

Good communication leads to opportunities to collaborate. We all need to work closely with our supply chain and other organisations in the same field as us to make our business a success, and exactly the same is true in business support.

One example of a really successful collaboration which I think deserves celebration is the North East LEP’s Growth Through Digital Technology programme.  This initiative is designed to help businesses achieve higher growth and increase profits through supporting them to develop and implement a digital action plan. The programme has brought together a range of companies including Microsoft, Uber, BT and Nominet who, with the support of a network of local partners, have been working with a common purpose of collaborating for local business growth.

Celebration

Events like this are a great platform for celebrating the impact of the fantastic work that’s being done here in the region through the LEP. We operate in a vibrant, supportive business community and, if we celebrate this more, it will show other regions and the rest of the world just what our great region is made of.

A hub for business

The September event centred on the latest version of the North East Growth Hub – a place where businesses can access the finance, funding and advice they need to grow. I’m really pleased to see this version go live; from what I hear it’s been a truly user-centric process with regard to the development and it certainly looks like peoples’ opinions have been taken on board. I’m looking forward to seeing the new functionality that will go live soon, including a forum and enhanced content, geared around helping businesses scale up and reach the next level. Encouragingly, the Growth Hub also helps North East businesses communicate, collaborate and celebrate more; great for helping us achieve the success we deserve.

Business support and finance providers are invited to attend the next Growth Hub Provider Network meeting, on 6 December. The event will largely focus on Scale Up, and we’re excited to welcome Sherry Coutu from the Scale Up Institute to provide useful advice and guidance on how businesses in our region can target the next level.

Ammar Mirza CBE

North East LEP Business Growth Board Member

 

 

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