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Business Spotlight – Finito: The Employability Experts

Written by Jenna Jones on . Posted in Finance, Latest, Partner Blogs.

There’s nothing more fascinating than an entrepreneurial tale. Discovering the trials and tribulations, surprises and pitfalls that come with building a business from the ground up.

We recently sat down with Founder and Chief Executive of Finito, Ronel Lehmann, to find out more about his personal journey building his incredibly successful business supporting young people in their transition from education to employment.

From the early days of harnessing a passion for service, to an inspirational editorial pivot that produced interviews with some of the UK’s most prominent figures, Ronel shares with us first-hand the risks, challenges and lessons learnt along the way…

1. When did you first have the idea for your business? Is it something you always wanted to do?

It’s funny when you look back and see how certain things were always pointing the way. Throughout my marketing and public relations career, clients would often ask if I could help their sons and daughters. After I moved on, and had time to look back on my achievements, the feeling of having helped people transition from education to a meaningful career remained with me. This has always been my passion. The gratitude from those you have helped beats anything.

2. What motivates you?

I find constant inspiration in those who give back. Some of those who have particularly inspired me have now passed away and so we have a slot in Finito World – the magazine I founded in lockdown – called Indelible Mark where we honour such people. One piece was about Jeff Katz, the legendary investigator, and my great friend. He inspired me with his can-do optimism, and that’s something I seek to emulate in my own work. I also adored the late Lord Young of Graffham, who was so open to requests. Never say no: you’ll find it’s actually easier to help than not.

Culturally, I won’t say that Coldplay is my guilty pleasure as I feel I have nothing whatsoever to be guilty about – but some might view it that way! I saw the band in Wembley last year and was on a high for a week: something to do with the gumption, attack and joy of their music speaks to me.

3. What did your career history look like before you set up your business?

I had a broad range of roles, including serving as a recruitment consultant, stockbroker, and public relations adviser with the IPS Group, Citicorp Scrimgeour Vickers, McAvoy Wreford Bayley and Citigate Dewe Rogerson, before setting up my eponymously named marketing agency, which I ran for 26 years. During this time, I became particularly well known for my crisis work for clients, and in 2014, was invited as a Witness to the Treasury Select Committee to give evidence on SME bank lending, a cause which I had championed vociferously.

4. What were the initial risks and what do those risks look like now?

I suppose the sheer newness of it: there are no direct competitors to Finito, so we have been trailblazers in the sector. Sometimes people, for understandable reasons, might compare us to a recruitment agency in that our business opens up onto the world of jobs and careers. But that’s really where the similarity ends: we focus entirely on the individual and seek to shape and mould them, help them find their way. In recruitment companies, a fee is taken from employers hiring a candidate. The element of excitement about this is still there. We’re much better known than we were ten years ago, but there’s always more to do. Watch this space, I say.

5. What has surprised you in the process of growing your business?

Well, I certainly didn’t expect to found a publishing arm of the business which is precisely what I did during lockdown by launching Finito World. That in turn has helped us mentor our candidates who can use our journalism platform to help connect themselves, or simply to tell their stories. More broadly, there’s been an astonishing amount of goodwill toward the business. No one has a bad word to say.

6. What makes a good business leader?

I like the question and want to quote back at you John Mortimer’s dictum: “No brilliance is required for the law. Only common sense and relatively clean fingernails”. You can change the word ‘law’ for ‘business’ and I think it still makes sense. It’s certainly easy to overthink in business: but looking the part is important, as is seeing the wood for the trees, which in itself requires a dose of common sense. I’m also a great believer in doing the right things and taking advantage of opportunities: I’m reactive in that sense. I like the way the world is always coming at you – as business leaders, we need to be flexible, otherwise the job loses its crucial sense of adventure.

7. What has been the biggest challenge in your career?

Firing unsuitable people. You worry disproportionately about the decision and yet when you execute it, you wonder why you agonised so much about it. It’s possible to be too nice in business sometimes. Business leaders should know that if you’re discussing someone too much then they probably should already have left the business. On the other hand, that individual may secretly be unhappy and relish confronting the reality of the situation: we all know, deep down, whether we’re performing and everybody hates struggling with their work. It’s usually better to bite the bullet: among many other things, it saves time.

8. What are you most proud of professionally?

Launching Finito World. I suppose if I look back this was an act of inspiration almost indistinguishable from madness: all the newspapers were shrinking, and yet I saw that there was an appetite for something new. Fast forward three years, and we’ve interviewed everyone from Sir David Attenborough to Sir Tom Stoppard, Sir Martin Sorrell, Sir Richard Branson and many, many more. We were also finalists in the 2022 PPA Awards.

9. What has been your largest or most impactful investment as a company?

Right from the beginning, using the expertise of our advisory board member Dame Mary Richardson, we decided we would need a bursary for students who cannot afford our fees. It’s been hugely successful and lifted many out of disadvantage and difficulty. We recently took on our first Ukrainian refugee and we are committed to doing more.

10. What advice would you give to new business owners?

You have to have self-belief – but then perhaps people who have set up their own business already have that or they wouldn’t have taken the plunge. I do think it’s important to take the right decisions on outside investment. You either need to maintain control or have investors who really understand you, believe in you, and who you can bounce ideas off.

How to Succeed in Business: CEOs of BBB Partners Have Cracked the Code

Written by Anya Cooklin-Lofting on . Posted in Finance, HR, Latest, Partner Blogs.

By Anya Cooklin-Lofting

There is an enormous appetite on social media for behind-the-scenes access to the lives of business people, creatives, and entrepreneurs through snapshot videos of days in their lives, flitting in time to the beat of an Insta-famous song. Business leaders possess an enduring appeal. We seem to be obsessed with their lives, from where they get their morning coffee to their chosen workout routines, and from the sort of software tools they use to their elaborate wind-down rituals. But underneath all the glamour, business leaders have some serious stories to tell. What really goes on behind closed doors? What struggles, obstacles and setbacks did they face on their climb to the top of their games? 

This month, it’s time to get the details. I had the pleasure of talking to six BBB business leaders about their journeys to success, what risks they took along the way and what genuinely inspires them to get back to the grindstone every morning. 

The question of what truly motivates great leaders yields answers that are as varied as they are moving. Kate Bright, the CEO of Umbra International, a leading client private office offering a range of bespoke protective and proactive security solutions, tells me that her primary motivation comes from, “the thought that [she] is in a privileged position to be able to help, empower and protect those who can’t protect or support themselves for whatever reason.” For Heather Darnell, the Founder and Finance Director at Ask the Boss, a business accelerator platform, “being part of the local business community and helping people reach their business and finance goals,” is the primary motivating factor. “Although,” she adds, “I confess that Cher’s character in the movie, Moonstruck, partially motivated me too. Seeing her popping in and out of her neighbours’ businesses and being a trusted part of the community was very attractive!”  Ian Patterson, CEO at Equinox and Equinox Charter, a duo of travel services companies, says his motivation comes from seeing the world. “My job has allowed me to visit so many unique and wonderful places,” he says. Ronel Lehmann, CEO of Finito, a company that helps first-time job hunters make the transition from education to employment, says his key motivation at work is, “the gratitude from those you have helped.” For him, “that beats anything.”

The early days of any business person’s journey are laden with risks, and many of the great business owners I talked to shared ways that they mitigated risk in every way they could. Patterson told me that although starting a business always requires financial investment, he had been in business with his business partner for over 20 years, so there was trust and expertise on each side. “We knew we had good clients that would follow us if we set up on our own,” he says. For Bright, too, extensive client experience and connections diminished the sense of risk she felt when building Umbra International. “In terms of financial risk, I still work with three of the families I worked with in my first job, so in many ways, starting the business was low risk for me.” For Max Slaght, the Director of Domus Stay, a holiday rental company setting a new standard for short stays in London, “our first major risk was the survival of the dream.” Slaght and his business partner Rachel Agnell started the business in early 2020, so by April, the lockdown had hit and they weren’t able to welcome their first international guests until June 2021. “Like most other businesses we had to cut back on spending, staffing and fundamentally operating, the doors were firmly shut,” he says. “But, we worked very hard to keep the operations side of the business alive, working behind the scenes on overall strategy. In those very dark early days, we truly laid the foundation on which this thriving business is built.”

Asking a business leader what makes a good business leader is an uncomfortable question to ask. Many of the leaders I spoke to took the opportunity to reflect on their own learnings, or on the qualities of leaders they have respected throughout their own careers. For Rupert Longsdon, the Founder and CEO of Oxford Ski, it’s clear: Good leaders should, “empower others, delegate and build strong teams.” Patterson agrees, telling me that sometimes it’s not just about the strength of the leader, but about the “layering of the people you put in place, from the directors to senior management.” For Slaght and Darnell, “good listening skills,” are of the utmost importance. Slaught says, “there’s a reason we have two ears and one mouth. Listening to others, your team, your family and friends and learning from them is so important.”

There’s no denying it’s hard work running a business, so it’s important for high-flyers to reflect on the moments of which they’re most proud and the challenges they’ve overcome. For Longsdon, a proud moment was the company’s handling of the pandemic. He says, “we’ve come out of these strange few years better and stronger.” Darnell tells me that there is pride in knowing that “every person that has ever worked for me has learned new things during their time with us. They can apply those things not only to our clients, but to their own lives, and future jobs when they decide to move on. I’m proud of every single one of them.” For Bright, it’s all about celebrating the moments that fill her with pride as the business grows. She says, “as we reach new revenue points, I always make a point to celebrate.”

And what of the next generation? Our BBB leaders were kind enough to share their wisest words with budding business people of tomorrow. Bright believes in creating your own fun by “[bringing] the things you enjoy to your business and being your authentic self. You’ll find you’ll attract a team, clients and a wider community that align with it.” For Darnell, pragmatism is key. She says, “always pay attention to your finances, and not just the money in your bank account. You don’t need to become an accountant to run a business, but you should learn what a tax liability is and what your profitability is and be able to see what it will take financially to hit your business goals.”

For Longsdon and Patterson, it’s all about listening to others. “If I started a business again I would also have a mentor, consultant, and non-exec,” says the former, adding that “I would have worked with someone with more life and business experience to look from the outside in and support me in making key decisions rather than doing it all on my own.” For Patterson, it’s simple: “Believe in your idea, discuss it with others, and work hard.”