Martin Chilcott Presentation 29 10

Commercial in confidence. 2012 2degrees, Ltd.
Building a business. Taking the first steps

The story of an ordinary entrepreneur

Martin Chilcott Founder & CEO 2degrees
Contents
Introduction (my story)
The Greiner Growth Curve (adapted)
Greiners model
My experience (10 lessons)
Some other thoughts
Q&A

Introduction (my story)
1980 Catamaran for Hire
1987 Graduate Cambridge University in history
1988 Co-founded Chilcott and Chilcott Charity Financial Advisers
1989 Graduate Enterprise Programme, Cranfield Management School
1990 Co-founded CTSS Advertising / debt collecting / Pizza Hut
1995 CTSS flipped into Clarity IBD Ltd (Chairman and CEO)
2000 Clarity sold for 42m to Proxicom Inc. (Head of Thought Leadership)
2001 Proxicom Inc. bought by Didata (Group Marketing Director)
2004 Co-founded Place Group (CEO until 2008)
2008 Meltwater Ventures
2009 2degrees Ltd


Greiners model

Greiners model
The term evolution is used to describe
prolonged periods of growth where no
major upheaval occurs in organization
practices.


Greiners model
The term revolution is used to describe
those periods of substantial turmoil in
organization life.

My experience

Growth through Creativity
Greiner model
Growth through
Creativity
Crisis of Leadership

My Experience - Growth through Creativity
2 to 4 years
My experience
Greiner model
My Experience Growth through Creativity
Crisis of ownership
Crisis of vision
Crisis of finance
Crisis of business model
Crisis of finance
Crisis of management

Crisis of ownership
Crisis of vision
Crisis of finance

Crisis of business model
Crisis of finance
Crisis of management

Initiation
Formation

No.1
The one thing that is certain is that
your business plan is wrong


No. 2
.the key therefore is to fail fast and
so learn faster than the rest of the
market; and before your personal
elastic band breaks.


No. 3
Never stop talking to your customers,
competitors, mirror businesses...


No. 4
Only two things matter in business.
Positioning and then executing
profitably against positioning


No. 5
Only work with healthy people who
can manage in chaos and operate
without resources


My Experience - the Crisis of Leadership
2 to 4 years
My experience
Greiner model
My Experience the Crisis of Leadership
If you have survived, the business now needs to move from
divergent thinking to convergent execution:
Focus on small number of known winners
Emphasis on operational excellence
Re-organise for operating at scale
Generate cash for reinvestment
Re-finance for very rapid growth


No. 6
Know your weaknesses and let go


No. 7
Build a team of specialist managers
who are obviously better than you
You will make some bad choices, but
persevere.


No. 8
You will have to remove loyal
colleagues & co-founders. Do it
quickly, but be supportive and
humane. You will lose some friends.


My Experience Growth through Direction
My experience
Greiner model
Direction
Crisis of Autonomy
2 to 4 years
If you have survived, then:
First opportunity to sell (though probably not exit immediately)
The business will feel different
You will share ownership and leadership
You will report to others (Board, Chair etc.)


No. 9
Be prepared for faster growth than
your early years experience would let
you believe credible.


No. 10
Become the guardian of the heart
and soul or your company and let
others manage day to day.

Some other thoughts
For really fast growth you need to be riding a wave or two
There is little real VC investment in the UK, though plenty of
growth funds calling themselves VCs
During the early years there are three types of entrepreneur:
1. Divorced (or about to be divorced);
2. Single; or
3. Working with their partner in the business

The 2degrees Wave

And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: 'Hold on!'
If you can talk with crowds and keep your virtue,
' Or walk with Kings - nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be an entrepreneur, my son!


Q&A

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Commercial in confidence. 2012 2degrees, Ltd.

Building a business. Taking the first steps

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