The Innovation Station on how SMEs can unlock potential - the fifth episode in a new ‘Business Innovation’ podcast series for small business owners by InterTradeIreland.
“A start-up is a race against time – whether it’s chasing milestones, raising revenue or gaining customers – the art is understanding when you are out of your depth and when a change in approach is needed.”
Not every start-up has access or the ability to raise the investment needed to make their business a success. SMEs need to ask themselves; how can we add value and manage expectations? That’s the advice from Henry Joseph-Grant, Chief Commercial Officer at Talixo and one of the founding members of Just Eat UK. Henry helped to build the food and delivery service from an early start-up in the UK to a $2.44 billion IPO.
In this episode of InterTradeIreland’s Innovation Station podcast, Henry shares his own experiences of working with start-ups all over the world, as well as highlighting the innovation and scaling challenges that even tech giants such as Uber can face.
“Introspection; looking at yourself and really understanding your weaknesses and strengths is more important than benchmarking competitor businesses. Make the changes necessary and gain new skills.”
Speaking at a recent InterTradeIreland business masterclass held at Ryan Academy, Henry emphasizes that there is no ‘swiss-army knife approach’ to scaling with limited investment, and that SMEs need an individualized approach into every market, regardless of industry or if it’s a consumer or software focused business.
Henry adds that as part of an effective approach towards innovation, SMEs must take a strategic view on scaling. It’s important to get the model right, then grow, otherwise you risk burning through cash.
“Scale fast enough for YOU – know what you’re doing and where you need to be. Cultivate the right culture. Create a great atmosphere – don’t have ivory towers, treat everyone like co-owners and co-founders. Make sure there are opportunities for staff to progress. Treat people with integrity- you need to value your workers.”
Released fortnightly, the Innovation Station podcast series will feature international thought leaders in the field of innovation, sharing their experiences and insights on how to succeed in the current economic climate.
Each episode is captured live from an InterTradeIreland ‘All-Island Innovation Programme’ masterclass delivered by a world-renowned expert.
Attracting thousands of business leaders, policy makers, students and academics each year, the All-Island Innovation Programme’ series of free masterclasses explores a wide range of topics including upcoming industry trends, management development, as well as the latest thinking in business growth, with the aim of promoting innovation and to encourage cross border cooperation.
Together with Queen’s University Belfast, the National University of Ireland, Galway, University College Cork and Dublin City University the programme promotes and encourages small business owners to innovate by sharing practical advice, as well as international best-practice.
For more information on InterTradeIreland’s ‘All-Island Innovation Programme’ visit: https://intertradeireland.com/innovation/all-island-innovation-programme/
