A Spotlight on Dr Morgan Potter, High Growth Manager
We spoke with our High Growth Manager, Morgan Potter, to find out more about his role, his advice for growing businesses and how he aims to help businesses go for gold through our Scale Up New Anglia High Growth Programme.
Can you tell us a bit about your role and what it involves?
I identify the top 2% of companies from the 66,000 in Norfolk and Suffolk which show a propensity for High Growth (approx. 1300) and produce case studies and smart action plans for 25 of these. Interventions include Goldman Sachs 10,000 Small Businesses Programme, Invest East and Supply Chain Analysis. The challenge has been labeled ‘Turning Silver into Gold’ meaning turning growing companies into high growth companies or Scale Ups growing at 20% per annum over three year period. I’ve also organised three conferences on High Growth and promote a ‘Collective’ which is a membership programme for the High Growth community.
What do you like most about working at the New Anglia Growth Hub?
Team work. It’s a pretty flat structure and everyone can get to speak their mind.
What has been your proudest moment as a High Growth Manager?
Pulling together the first High Growth event with help from the team and getting support from Professor Dan Isenberg, who is Professor of Entrepreneurship Practice at Babson College Executive Education and Professor Mark Hart, Deputy Director of the ERC and Professor of Small Business and Entrepreneurship at Aston Business School.
Describe yourself in three words:
Constructive, respectful and focused.
Who inspires you, and why?
Richard Branson. He started up Virgin Records in the 70s and then went on to airlines and trains. When asked “To what do you attribute your success?” he replied, “That’s easy. Surround yourself with talented people”.
For startups in the survival stage of their business growth, what advice would you give to help them reach the success stage?
First, really understand the fundamental business proposition: what are your USPs? This will then help to clarify your market size, channels to market, competition, finance/profitability etc.
And what advice would you give to growing businesses looking to take their business to the next level?
Don’t try to grow too quickly as growth costs money. Establish your market, keep a close eye on cash flow. Quality and timescales are key.
What are some key challenges businesses face in the growth stage, and how do you help them overcome this?
Four key points:
1. Right people in the right jobs – surround yourself with good people.
2. A strategy to achieve your goal.
3. Ensure a resilient business model
4. Have the cash to scale up.
This will involve bringing together business entrepreneurs and advisers from the Growth Hub to actively address the needs of the High Growth business community.
Looking to the future, how do you think we can help make sure businesses have access to the right communities and support as they continue to grow?
Our soon to be launched Membership Portal will provide a focus for the High Growth community to access a rich resource of information, networking, events and support. This will encourage peer-to-peer learning and support between growing companies (scaling) and those with scale up status.
What is your philosophy on business or life, in a nutshell?
As a former business owner myself, I fully understand the time, energy, stress and motivation that goes into running a business.
Thank you to Morgan for sharing his experiences and advice.
If you would like to find out more about the High Growth Programme, please click here. For FREE and impartial business advice, tailored to your needs, please call our business support helpline on 0300 333 6536 or email firstname.lastname@example.org.