Leading a business: it's time to have the hard conversations first
Welcome to Business Matters. In this edition, our new Senior Correspondent Dougal Shaw meets with Motorway CEO, Tom Leathes to find out why it’s important for business leaders to ‘eat their vegetables first’. We also hear from our Expert Jake Humphrey on the 7 lessons that business leaders in the UK can learn from their US counterparts, ETK Group founder Bolaji Sofoluwe MBE we discusses their company mission to help businesses expand?into Africa, and we have a special offer for our Scale-Up Awards . ?
Motorway CEO on why leaders must learn to 'eat their vegetables'?
Tom Leathes is the co-founder and CEO of the online used car marketplace Motorway. The company was founded in 2017 and secured unicorn status in 2021, when investors valued it at more than $1bn.??
Leathes is a serial entrepreneur, having also started firms including LoanCube and office space aggregator Official Space. Over the years, he has adapted his leadership style, particularly as his companies have scaled.?
He shares his leadership advice, in our new video series, My CEO Secret. The biggest takeaway? Leaders must get comfortable with hard conversations and learn to “eat their vegetables first”. ?
Watch the video here.?
Elsewhere this week, our Expert Jake Humphrey offered some tips on what UK business owners can learn from their counterparts in the US. His insights come from a conversation he had with Robin Sharma , the author of several books including The 5am Club. ?
Those tips include?
1. Don’t be a resentment collector?
2. Other people’s success if your success?
3. Taking absolute personal responsibility?
4. Getting comfortable being ridiculed?
You can read more about these – and his other tips – here ?
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For much of the late 20th century, the perception of Africa has been given over to scenes of civil war, instability and poverty. And while those images may have some truth in them, there is so much more to the continent.?
Africa is home to about 1.4 billion people, has a GDP of $8.86trn (￡7.09trn) based on purchasing power parity, and an estimated annual GDP growth rate of 3.7 per cent in 2023. It is the second-largest continent, almost three times bigger than Europe, and is made up of more than 50 countries, with in excess of 2,000 languages spoken. Such size and complexity comes with challenges, but it’s worth paying attention to the potential of the region.?
To help with that, there is ETK Group . Since 2010 the company has delivered projects in 34 African markets for 200 clients and participated in deals worth more than $1bn (￡785m). We spoke with its managing director Bolaji Sofoluwe MBE on why all businesses, no matter their size, should “be ambitious” and go against the grain by considering African expansion.?
The?Scale-Up Awards?are the UK's most exciting and dynamic celebration of business achievement and growth. Hundreds of award entries, a world-class panel of judges and a fantastic gala evening, brought to you by Business Leader.?
Open to all UK companies regardless of sector or size, the Scale-Up Awards recognise and showcase high-growth, innovative companies that are trailblazing in their markets. The awards offer a variety of categories from Customer Champion and Employer of the Year, to International Business of the Year and Scale-Up Entrepreneur of the Year ??
Entries close next Friday (21 June) but as a?valued subscriber?we’d love to offer you an extended deadline.?
Contact [email protected] for more information.
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