What Simon Ursell learned from his expansion phase: and how you can do it too

Who is Simon?

Simon Ursell is Managing Director of environmental consultancy Tyler Grange and has led the firm for 13 years. He has grown it from a start-up to a company of nearly 100 people, with six offices across the UK. His expansion has been impressive and can provide business owners with some valuable guidance on how to effectively manage business growth. Here are five lessons he learnt during his expansion.

Plan for scale

If you want to be bigger, planning to be bigger from the beginning is vital. Invest in your business to make it scale - build systems, techniques and processes that will work for a much larger business. And the earlier you start, the better

One way Simon did this was integrating duplicate systems into one. Simon’s team purchased Salesforce to overhaul their administration.

They also refined their operational efficiency – a process which they coined ‘Project Zero Admin’ – to decrease the time their fee earners spend on admin. Theyhave since made major strides towards this through automation, removing timesheets and reducing clicks.

Investing in operational efficiency is paramount in an expansion phase because it reduces the time that you and your team spend on day-to-day processes. It can be difficult to plan for the future when treading water, so investing in data and automation services like Salesforce means a business expansion phase is more efficient and more scalable, whilst straight-through processing can improves accuracy for clients.

Remember, whilst these services are valuable, they can be costly: it might be worth considering joining a medium-to-large firm that can bring advice businesses onto the same platform and operating systems as part of their package to support business owners.

Culture is crucial to scale

Invest in your culture. Simon explains that his team wasted lots of great opportunities with both clients and employees who were skilled but had different values to theirs. They lost much time trying to help them become comfortable with their culture.

As his business matured – and become much more defined about who they are and how they operate - they’re more defensive of that culture, and it’s made their business much more successful.

Their business started growing after we planned for scale and started recruiting people who would fit and add to it’s culture and values. This has enabled Simon to concentrate on what’s important to him, his clients and the planet.

At SJP, business owners have access to an adviser recruitment service that enables Partners to engage, recruit, select and increasingly train new advisers that fit with the culture they’ve built.

Get out of your bubble

It’s not just about increasing headcount: Partners are able to find the right fit because SJP’s Business Acquisition Managers have a deep understanding of the market, which means they can introduce the right recruits to the right Partner. Partners can feel confident that anyone the recruitment service puts forward is a good fit in terms of level of experience and personality. Business owners can equally invest in their own ‘exit strategy’, because new advisers may one day wish to buy the business of those who are looking to retire or leave the profession altogether.

Simon explains that his business has become a four-day-week B-Corporation and has done many other things that break convention. They haven’t been afraid to speak to other organisations, of all sizes and in all sectors, who share their passion to do things differently.

“Find exciting people from other walks of life who inspire you”, says Simon. “Tyler Grange is committed to bringing such amazing people in to help make the business and employees as resilient and versatile as possible. They support and equip us with the skills and mindsets to achieve our potential, individually and as a business.”

The firm works with international sports coaches, ex-Army generals, Special Forces leaders, pilots and big-tech leaders. They run workshops covering areas such as resilience, team performance, leadership and creativity.

When approaching your own expansion phase, it’s worth considering the wider networks you can draw inspiration from. This mean looking internally at your advice network, but also casting the net wider to other industries and sectors. Ask yourself the following questions:

• Who do I already know?
• Who would I like to meet?
• Who can I learn from?

Once you’ve identified the areas in which you’d like to broaden your knowledge, you’ll have a better understanding of how to access the right people to help you grow. It’ll also help you focus on which areas of your business you most want to focus on.

It might be worth investing in a business partner, who can take an objective view of your business goals and support you in your expansion phase. A good business partner will be able to provide consultancy across all areas of your business, including Continued Professional Development (CPD), operational efficiency and developing your staff.

Invest in ESG from the start

Sustainability is one of the biggest issues for scaling businesses, affecting all aspects from rising energy costs to how customers, employees and other professionals see and value the organisation.

Also, governments and investors are increasingly focused on environmental, social and governance (ESG) performance. So, embracing sustainability is a must if you want your customers and stakeholders to engage. If you don't have plans to deal with issues such as climate change, you’re unlikely to benefit from investment, for example.

Integrating sustainability also creates opportunities for innovation and helps attract and retain more talented employees with high satisfaction levels. But if you don't embed it into your business from the start, it becomes increasingly difficult and costly to do, as you will be playing catch-up.

As part of Simon’s business preparation, Tyler Grange became a member of the Better Business Network, which promotes a cleaner, greener, fairer future for all. His business also became a B-Corp thatsupport the Better Business Act.

For financial advisers, the best way to partake in sustainabe business practices is by providing responsible investment portfolios for clients. Consider how your business maximise your responsible investment strategy by researching the products you provide to clients.

As an Independent Financial Adviser, for example, it’s important to conduct due diligence and ensure that your portfolios are responsible. On the other hand, if you’re an adviser within a wider network, it’s likely that you will be able to a tailored portfolio that’s been built by responsible investing experts, monitored by your organisation. For example, Partners at SJP, have access to a Bespoke Portfolio Service provided by Rowan Dartington, which enables clients to construct a unique portfolio from a range of responsible investments.

Lead with compassion

Poor leadership is a fast killer of businesses. Good leadership requires compassion and empathy. Compassionate leaders steer from the head and the heart. They understand staff are people before employees, and that people have needs. They also treat their employees the way they would like to be treated and develop a work environment where staff feel valued and safe.

To do this, set clear expectations and clear consequences – positively, with promotions and bonuses, for example, but also when performance and productivity fall short.

Many leaders are compassionate but don't lead: theyavoid difficult conversations. Others are great at hard conversations but struggle to show empathy and understanding. You need to be adept at both to thrive as your business expands.

How can we help you?

These lessons emphasise that expansion is not just about increasing the size of your business but also about fostering a sustainable and inclusive growth that aligns with your values and the needs of your clients and employees. By implementing these strategies, you can navigate the challenges of scaling up and build a thriving and resilient business that stands the test of time.

Building a financial adviser with SJP means you have access to a comprehensive range of services and support to help you grow your business with confidence. As you explore the path to growth and success, we can help you in your expansion phase, providing the tools and guidance needed to develop your staff, optimise your business, and grow your client offering.

Find out more here.