The NatWest entrepreneur programme is unlike anything I’ve heard off or experienced ever before; NatWest not only supports new businesses by providing state of the art infrastructure in prominent locations, but also supports businesses by guiding them through networks and coaching. The Lancaster MBA cohort was divided into different teams to support entrepreneurs with their problems, and come up with potential solutions in ONE hour (No pressure right?). For the day my team was working with Wendy Kendall.

Wendy Kendall is the founder of Wendy Kendall.com and is an accomplished psychologist with over two decades of experience in top-level executive coaching. Her vision is to help businesses to transform their leadership, so that these businesses could accelerate their global growth. The problem was real businesses invest a lot of money sending executives around the world enhance the business in diverse economies, but are usually left with a bitter taste. Prominently because

• A third of assignments fail to meet expectations
• 50% of assignees leave the organization in 12 months after they return from a overseas assignment.
• Slow adaptation by executives in new cultures

The market was there and the problem was laid out to the Lancaster MBA – “How to grow this niche business of developing business leaders into a global brand.”

Part of managerial decision-making is identifying the problem first, we wanted to understand what was keeping Wendy from growing? With more than seven nationalities in the room, the wealth of knowledge to answer this important growth question was immense. One of the most significant reasons for such a niche business to not grow as rapidly was, Wendy’s workload. It’s tough finding someone with the same skills, persona, experience, and flair as Wendy; Wendy has a wealth of experience, and developing people to attain her level of expertise takes a lot of time. The other reason we could identify was lack of marketing and proper strategy – irrespective how niche an idea or a skill is, unless it has the correct exposure and goal it will not thrive.

In business having a long-term and short-term strategy are important for a business to thrive. While the short term strategy focuses on market penetration, Long term strategy focuses on growth and market development. Having a clear set of goals for the short and long term are key to a businesses survival; though the business was niche, it lacked a proper strategy for now and tomorrow. With very limited knowledge of the business we presented Wendy Kendall.com with a range of solutions, such as

1. Focused Marketing : Reaching out the correct businesses nationally and locally through smart animation, blogs, and case studies. Focusing on just MNC’s would mean less diversification of the business’ revenue streams.
2. Strategy : The business aimed to grow in the next three years. In order to grow a business needs to have a strategy of what to do, how to do, and when to do. A short-term strategy of focusing on niche firms across the country and around Europe would not only help fuel short term growth, but also help build brand recognition in the long-term. A key challenge for any up coming business is building credibility of the service or product offered. I believe that working with businesses that are expanding and thriving in their new markets could be potential way of building brand presence and value.
3. Delegation : A key attribute of leadership is delegation, mentoring individuals to perform at and over their potential is an important responsibility of a leader. No organization is run by just one person, a successful organization is made by the continued brilliance on a daily basis by a set of people working towards the same goal. With Wendy Kendall performing all roles in the firm, it leaves her little time to explore other areas of growth or enhancement.

The team had a very limited knowledge of the business, its performance until now, team dynamics, and growth strategies. The potential options were presented to the business and were well received by Ms Kendall. We departed the premises after a brief chat with Ms Kendall and wished her good fortune with the business in the near future.

On our way back, I could reflect why learning through action should be the preferred way of teaching in business programmes around the world. Acquiring knowledge just through text does not develop an individual, it’s the act of using the acquired knowledge in the real world that prepares a leader for diverse situations.

‘Knowledge without engagement is useless’

Article written by MBA student Anuj Upadhyay