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Filed under: Deloitte Fast 50

When the Minister Calls - an SME perspective

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Yesterday Learning Pool hosted a visit from Northern Ireland Minister for Enterprise, Trade and Investment, Arlene Foster.  In case you missed it, at the end of 2011, Learning Pool was announced by Deloitte as the fastest growing technology company in Northern Ireland (as well as 6th in Ireland, 26th in the UK & 139th in EMEA) based on revenue growth over the past 5 years.  They confirmed our growth to be a whopping 1,100% (gasp!).  The Minister expressed an interest in finding out more about the company so we invited her to call in.

We were a little apprehensive about her visit I guess.  As entrepreneurs we don’t have an awful lot to do with politicians (although maybe that needs fixing).  We didn’t really know what to expect from our allotted hour.

We needn’t have worried.  The Minister was friendly, personable, engaged & knowledgeable.  She spent the first half hour circulating around “Pool Heights” (our Derry HQ), chatting to our team and asking plenty of questions, her PA at her elbow jotting down a few notes.  The Learning Pool team are always keen to perform in front of an audience so they were in their element and there was a good bit of laughing and joking going on – especially when the Minister realised that we have two Americans on board (she asked them how come they live in the North West – you can guess the answer yourselves).  As we climbed through the floors of our building we watched members of the team showcase our new online finance training for government, demo some bespoke content and show the Minister a new set of graphics that are still work in progress.

Paul & I spent the last half hour in private conversation with the Minister while we all had a nice cup of tea (see photo).  Some of what we discussed was – the issues SMEs like us have in winning work with government, how we think procurement processes could be improved, some of the work we both do with Young Enterprise and our various digital interests (Paul with Digital Derry, me with Digital Circle), the role start ups play in creating a vibrant Northern Ireland economy and the work we both do with micro businesses, ideas around addressing the skills shortages we as a region are facing (we were glad the Minister brought that up and was well informed about the situation).

Thanks for coming by Minister, your new friends at Learning Pool are all fans!

London Calling

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I’m getting ready to move to London in the New Year.  There, I’ve said it.  Learning Pool started life in London in a rented loft in Crawford’s Passage in Farringdon before shifting our HQ back to Derry.  We used to call our London base Crawford’s Pass amongst ourselves because it made it sound more Irish.  In our early days we were paranoid about customers knowing we were a Northern Ireland company in case it was a barrier to us doing business.  As the last 5 years have progressed, we became less coy about our origins as we cemented our customer relationships although we hung onto our London phone number.  These days, our customers love the fact that we’re an Irish company and some of them have even been to visit us at our office in Derry.  Others have even been brave enough to join our team.

Our fabulous Head of Content, Deborah Limb, joined us from another more famous e-learning company.  Deborah had never been to Northern Ireland before her first day at Learning Pool.  She arrived at our office on a cold, wet, Monday morning in November 2007, clutching the remnants of a sopping wet map in her hand.  She still claims she never saw daylight during that first winter.

Now it’s my turn to go back the other way and it’s a bittersweet feeling that I have.  I lived in London for 17 years before moving home to County Tyrone at the start of the new millennium.  I left the pushiness of the city behind & moved right into the middle of rural Ulster.  I’ll never forget waking up that first morning & hearing no sounds.  Nothing at all.  I remember the relief I felt & ever since that day, I’ve half felt as though I’m on holiday – a sort of working holiday where you work harder than you’ve ever worked before but your colleagues & neighbours are so friendly that it somehow compensates you.

I quickly learned to be less brusque & more chatty in my interactions.  More talk about the weather & people you know & less focus on the agenda is the Northern Irish way.  Gradually the sharp edges from all those years spent living in the city were worn down a little.  Of course I’ve been back in London pretty much every week since 2000 – sometimes twice a week – but always as a visitor, staying in a hotel room, running for a plane home as soon as the meetings are finished.  I’m wondering how I’ll slot back into the hurly-burly of London life after the deep, deep peace of country living (quoted with a nod to Mrs Patrick Campbell).

So why am I as a person and why are we as a business doing this?  I guess we’re fed up with fighting for what’s right (that it should be just as easy to do business from Northern Ireland as it is from any part of the UK or indeed Europe) & accepting what’s reality.  Like it or not, London is indeed where UK government’s beating heart lies.  It’s also where a large number of our customers, a huge number of potential customers and some of the people we’d like to work more closely with are based.  On top of that, our Northern Ireland location is stifling Learning Pool’s growth as there just aren’t the skills here that we need to recruit in to grow our business.  We’ve raised this point many times with Invest Northern Ireland.  We’re further hampered by having an ornament of an airport 5 miles from us in Derry that we never use as the flight times aren’t conducive to being anywhere on time to do business – and the government agencies and politicians seem more interested in in-fighting & scoring points off each other than looking outwards & making Northern Ireland an easier place from which to operate internationally.  In summary, we’ve concluded we’re missing out on opportunities and holding ourselves back by not having a London presence.  And I think that’s a very sad state of affairs.  Learning Pool was recently confirmed by Deloitte to be Northern Ireland’s fastest growing tech company & the 6th fastest growing on the island of Ireland, but we have to look to London in order to continue our expansion.

Of course there’s plenty of upside.  I’m looking forward to being back in the heart of the capital for a six month period and I’m intending throwing myself into the whole London work/social scene and spending plenty of time with friends & colleagues, old & new.  I’m looking for somewhere to base Learning Pool London right now so watch this space & all will be revealed.

I know this is an emotive topic, especially for other Northern Ireland businesses – so I’m looking forward to your views & a lively discussion in the comments below.  Keep ‘em coming!

 

Billy Bragg...songwriter, activist & national treasure

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I’ve been a fan of Billy Bragg all my adult life – which is pretty much all his adult life.  The photo above was taken today & features my rather tatty but much prized Billy Bragg t-shirt bought in 1985 & survivor of so many wardrobe clear-outs.  I almost threw it away when we moved from London to Northern Ireland but I couldn’t bear to.  It reminds me too much of the miner’s strike & the stuff that went on back then.

Yesterday, the Learning Pool crew was breakfasting in the Gibson in Dublin following the Deloitte Fast 50 Awards ceremony on Friday night.  I don’t have to tell you how late we went to bed.  Suffice to say it was a similar time to when I often get up.  At breakfast, Billy Bragg was at the next table.  I couldn’t let the opportunity pass.  I did, however, have the decency to wait until he’d finished his breakfast & read the newspaper before I approached him for a chat.

He was exactly as I imagined he would be & I was delighted to hear he was heading over yesterday afternoon to the Dame St protests in Dublin to show a bit of support & play an impromptu gig on a makeshift stage assembled by the protesters & activists.  Good on yer Billy & good luck with your Irish tour.  Might see you Friday night at the Empire in Belfast.  Details are here if anyone else fancies it too http://www.billybragg.co.uk/gigs/gigs.php

Billy Bragg stories welcome via the comments as always.

Going for business awards - is it worth all the hassle?

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Over the 5 years Learning Pool has been trading we’ve entered a few – won some & lost some – but is it worth the time & effort that it takes?

Like most things in life, the answer is probably “it depends”...which I know isn’t a great deal of help to you if you’re reading this blog to find out.  The thing is that awards cover a huge spectrum.  At one end are the “straightforward” awards – for example, the Deloitte Fast 50 technology awards.  It costs nothing to enter, you don’t have to write an essay or deliver a presentation, you don’t have to be a Deloitte customer, it’s up to you if you want to buy a few more places at the Awards dinner but there’s no pressure.  All you have to do is make your published financial information available and a calculation is performed of your revenue growth over a defined period of time.  The 50 companies with the highest growth are then ranked with the winner being the company whose revenue has grown by the biggest percentage.  It’s black & white and the numbers don’t lie.  We like this one & have been the Rising Star winners in Ireland for the past two years.

At the other end of the spectrum are the much less clear & transparent “industry” awards such as those run by e-Learning Age magazine.  I don’t know this is the case but from our perspective winning appears to be all about who you know in the industry and how much money you’ve spent with the magazine in sponsorship and advertising – as I say – only my own opinion from Learning Pool’s experience.  We’ve entered twice and although shortlisted each time have won nothing.  The winners are judged behind closed doors by a panel of industry “experts” – most of whom have their own e-learning companies and are therefore in direct competition with many of the entrants.  A more cynical person may conclude that everyone who enters gets shortlisted so as they’ll fork out for a very expensive table at the Awards dinner.  I shouldn’t scoff so – at least our last experience of this farce served to remind us that Learning Pool’s industry is very much the public sector and not e-learning.

Somewhere in the mix lies the business “competitions” – usually for seedcorn monies aimed at new or fast growing start-ups.  These require a detailed business plan, a significant time commitment and a number of presentations over a period of time.  The one & only time Learning Pool entered the Intertrade Ireland seedcorn competition (in 2008) we did well and won the Northern Ireland heat (we’re very proud of our trophy and that’s it in the photograph).  We were pipped to the post by resellers of 3D printers...I’ll say no more but c’est la vie.  This competition is definitely worthwhile for new start-ups, we learned a lot in the process and I would recommend it for any Irish companies thinking about entering.

In the future Learning Pool will continue to enter the Deloitte Fast 50 but we’ll probably be a bit more discerning about other awards and only enter in partnership with our customers to showcase their projects and achievements.

In summary, I don’t know whether entering awards is worth it or not – and I’ll be interested to hear your views on this.  Awards dinners are a fun night out for your team, especially if you win, but weigh up how much time and energy entering will take up and think about whether or not you would be better off, certainly as a start-up business, investing that resource into making sales.

Without selling there is no business...

Last night some of Learning Pool’s #teamlovely were at the Europa hotel in Belfast for the Deloitte Fast 50 awards.  We had a great night and would like to thank Kathy & Claire at Deloitte’s in Belfast for organising and Brendan for being our genial table host.  The speakers last night were great and addressed specific issues around why Irish companies are not more successful, especially in the US where a huge Irish diaspora community and a lot of goodwill exists.  The guys dished out a lot of very practical advice to tech companies like ours that are early stage & ambitious.  We listened to every word.  The absolute star of the lineup however was Niall Olden, Managing Partner at Kernel Capital.  Niall was very clear that many Irish companies do not reach their full potential in either performance or valuation because careers in sales are neither nurtured or recognised as being on a par with professions such as being a doctor, lawyer or accountant.

This was music to my ears and those of Sam Barbee, Learning Pool’s Head of Sales, who was sitting next to me at the table last night.  Sam hails from Orange County, CA – that’s both of us pictured with Niall later in the evening – we just had to go for a chinwag with him and thank him for raising something which both of us fail to comprehend.  In other countries the importance of sales as an intrinsic part of business is recognised and students are encouraged at undergraduate level to understand the benefits of choosing a career in selling.  I work in sales now having spent years working as a commercial accountant.  It’s liberating to work hard in an arena where there’s a very direct link between your hard graft and the company meeting its targets and flourishing.

I talk to lots of early stage businesses and am often horrified when they tell me how much time and effort they are spending chasing government grants or other forms of financial assistance.  How much better off they would be focusing on making sales & building their business from a robust revenue footing.

Many graduates aren’t interested in learning how to sell but what they don’t realise is that this will hold them back later when they start to climb the ladder and they’ll never make it to senior exec or MD level without solid sales experience.  Instead they choose to regard sales as something slightly grubby that they’d rather leave to someone else.  Get over yourselves guys!

And yeah – we walked away with an award last night – Learning Pool was named as the Deloitte Rising Star for the second year in a row.  We’re all absolutely delighted and I’d like to say a big thank you to our team – many of whom are out there selling every day of their working lives.  Great night one and all.

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