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UKSPA Conference 2009 - Driving Business Success Through The Power Of Network Presentation V4
- 1. Driving Business Success through the Power of the Network Presentation to UKSPA Conference - September 17 th 2009
Editor's Notes
- Good morning ladies and gentlemen My name is John Leake, General Manager of DSIC DSIC is one of two national science and innovation campuses and home to nearly 100 high-tech businesses. DSIC was founded on a platform of open innovation with networking at the core of this My presentation is a practical guide as to how the Science Park Manager using a business network can drive the success of their tenants and hence their own success
- The presentation will cover the following areas: Research on the importance of networks and in particular how this relates to 3 rd generation science parks What constitutes a network philosophy and culture and how might it be developed An overview of 7 practical steps that can be taken to develop your network How the development of the network at Daresbury has helped impact on the business of our companies Finally , a summary
- There has been much research done on the importance and impact of networks, but picking out a couple that are perhaps more applicable to science parks: Hanna and Walsh in their paper on small firm networks identified that these companies should have a strategic approach to networking and see it as a core business competence The renowned marketing guru, Michael Porter, in his paper on clusters stated that the development of clusters through networking will “spark innovation and new business development”
- Moving onto our own very guru, John Allen, who wrote the document 3 rd Generation Science Parks coordinating thoughts and opinions from a number of eminent thought-leaders in the science park world concluded the following on networking: That connectivity and networking is essential at all levels, and that the management team of the Science Park need to have “considerable understanding” of their companies in order to best direct expertise and networking opportunities In short: Networking is strategic not tactical Essential not an optional extra Core to the philosophy and culture of the science park
- So what might this philosophy look like, I would suggest the following: Engage strategically Know your companies, their capabilities and their needs intimately Find the highest quality of expertise that you can most accurately target The world of the high-tech SME is fraught with risks and only the most precise solutions will help tackle this Collective expertise of the network can help SMEs short-circuit the process to develop knowledge and capability. This will save time & money, and ultimately will derisk the business Embed the culture in your organisation – it is behavioural not process-orientated (Give value-get value, Open door –open hand) And in your tenants This is critical if you wish to both maximise the impact but also ensure that the culture is not diluted with growth A number of companies at Daresbury have set up what is unofficially known as Daresbury plc. They will purposely open up their key clients to receive pitches from other companies on Campus. This has resulted in new business contracts being established and the reputation of the original company being enhanced
- Strategic Engagement As discussed before this is about clear understanding of your company – their business, strategy and barriers to success Understand their needs and then ensure your network can meet it Develop the knowledge of your businesses because that knowledge has real value to other organisations Development of the “market place” The market place is the place where your network can do business together – BUT focused on supporting high-tech SMEs. Monitor how that develops to get the right balance eg for DSIC we have 40% high-tech businesses, 35% suppliers & consultants and 25% universities/business support Make sure you have a focal point to bring your network for it to engage with each other AND don’t be an exclusive club – your suppliers and consultants all have value to bring Don’t over control your network, a level of chaos is healthy
- Working strategically with like-minded intermediaries is critical – I have given some examples of those we work with at DSIC Understand what these organisations need to achieve strategically and develop “win-win” scenarios Delivery of this will critically require “go to” people these intermediaries What do they look like – people who have a similar focus & objective to supporting SMEs as you do – seek them out & embed them into your organisation as if they were part of an extended team BUT make sure you underpin at the top of their organisation to maintain buy in Be Physical Networking is not merely about transfer of information but should build understanding, identify opportunities and develop trust Therefore it requires face to face interactions Our key event is a monthly Business Breakfast Network with about 150 attendees at each event. It is full-on networking with only a short interlude to introduce key people to the network that they need to know To maximise the impact of the event we review the delegates with our strategic partners the day before to identify connections that need to be made and share intelligence
- It is crucial to pro-actively drive collaboration SMEs have great depth of expertise BUT little breadth – therefore need to collaborate One concern is that companies may be in competition with each other. From experience, the more similar companies are – the greater the likelihood that they are complementary Therefore don’t be afraid to make introductions no matter how loose the connection seems – it can deliver significant opportunities. The physical is crucial but follow it up with the virtual. It will enable you to reach more people, more frequently We set up Newshub in Oct 2008 allowing our network to share information, make connections outside our events To date 25% of our network (~ 500 people) are registered into it
- Blue chips and government organisations like the NHS are critical to the network Why – because they are customers, collaborators or even acquirers Despite the desire of many of them to reach SMEs, like P&G and GE to, their biggest problem is about finding where they are Blue chip looking for RFID, found through our network in a company located 3 miles away for them Target those blue chips where the capabilities of your companies have the greates relevance and build the relationship strategically Be persistent in building relationship as it can easily take a year plus, BUT also look for those blue chips where there is the quickest win. For example an immediate need that can be fulfilled, or a blue chip that strategically is focused on building collaborations in SMEs AT the end of the day – this is probably the biggest deal for the SME, getting air time with the blue chip
- So what are the hard benefits that the network has delivered As shown by our annual survey Minimal business failure – 6 companies in 4 years, of which 2 phoenixed and 1 was acquired by another tenant Accelerated business growth 67%/yr sales growth & 55%/year investment growth Increased collaboration Nearly ¾ of the companies collaborate with each other (up from 50% the previous year) These collaborations ranging from straight buyer-seller relationships to setting up new businesses What is also interesting that the super networkers, those who collaborate with other companies and universities/research institutes, show significantly higher growth rates than the average
- We have also asked our companies to evaluate the impact the Campus has delivered to their network and business development processes tracking year on year performance, as well as benchmarking versus other measurements eg Angle report on Science park performance
- Successful networks are an essential component in any science park To develop effective networks it requires a strategic engagement with not only your tenants but also key partners and potential customers Embed the network culture into your organisation as well as your tenant companies Use your events as a focal point BUT use technology to increase the frequency and reach Finally make sure you measure the impact on your companies of your network and where there are gaps then adjust your strategy and delivery I would like to particularly acknowledge and thank Paul Treloar, Business Development Manager at DSIC, for his input into the presentation but more importantly, his energy and passion for building the network at Daresbury.