Alan Inskip: The two pillars of a successful business

 

To run a successful business, you need two things – a workable, scalable and unique idea and a team that’s invested in you and your business. Without these two pillars, you may be able to run a business, but it won’t last long.

 

I started with an idea, one that at the time and even now, I feel is truly revolutionary, not only within our industry but for the economy, culture and direction of the 21st century.

 

There was however very little I could do with that idea or Tempcover, the business the idea was responsible for, without the help and drive of my team. Thankfully I have been fortunate enough to build a team over the past decade that has got behind my idea and helped make the very best of it.

 

Showing leadership to inspire your team

 

If your initial idea is good enough, you’re bound to do well – to a point. It’s how you inspire and develop the team around you that will decide where that point is.

 

They are your support network, your sounding board and in a lot of cases, the inspiration behind your best ideas. Whatever their department, they live and breathe your business and the idea at the core of it.

 

I know the impact my actions and decisions have on my staff’s morale, motivation and performance. That means it’s crucial to lead in such a way that the team feels motivated to perform at their best.

 

I ensure I convey the right message and keep clear, open communication across the business as a priority. I ensure my staff know exactly how the company is performing daily, as well as holding weekly catchups to highlight the positive impact their work is having on the business.

 

You need to create an open and honest approach to your team; this demonstrates the trust you have and gives them the inspiration and opportunity they need to grow our business.

 

Always be evolving

 

With a happy and invested team, you’re not only going to produce the best version of your current product or service but also inspire new ideas and ways you can evolve as a business. It’s these ideas that will set you apart from your competition.

 

A great idea will always be imitated and if you’re unable to evolve, you will eventually be overtaken.

 

Use a range of data points, direct customer feedback and the ideas of your team to look for ways to expand and develop the business. Whether it’s solving a common problem for consumers in your market or utilizing new technology to provide a better service, there are infinite ways to evolve as a business – what’s crucial is choosing the right sources to listen to when deciding which path to take.

 

Use data to back up any gut feelings you have and be prepared to test and try several options before putting your next great idea into production.

 

Don’t be afraid to fail, as long as you’re not risking that core function that your business survives on, you can take risks and try new things. It’s these risks that will take your business from an impressive start-up to a market leader.

 

To make sure you’re not housing a stale workforce with an out of date idea, ask yourself, am I consistently inspiring my team to help evolve my business?

 

By Alan Inskip

 

About the author

 

Alan Inskip is a multi-awarding insurance broker and CEO of Tempcover – a leading provider of temporary car and temporary van insurance. Alan is a member of the Chartered Insurance Institute (CII) having worked in the industry for over 15 years, with over 13 years’ experience as Tempcover CEO.

 

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