Monday, April 20, 2020

Ingredients to Business Success

One of Britain’s most influential business women, Baroness Karren Brady, opened day two of the EMEA conference in London, revealing some of the secrets to her success, including how she has led West Ham United to record revenues and attendances in their new home at the Olympic Stadium.

To kick off her keynote, Baroness Brady told the story of how she came to be MD of Birmingham City football club. In 1993, she saw an advert in the paper for a club for sale, went to her boss at the time and pitched the idea of buying. That was a Friday afternoon and by Monday, she was in a press conference announcing her new position to the press. During this press conference, she says the press made remarks about her being a woman and her lack of qualifications, but with clear goals for the club in mind, she convinced them she had the drive and determination needed to succeed.
Success Lies in Culture

After seeing the state the club was in, Baroness Brady realized: “No one at the club had any drive to run it like a business.” Her first job was to transform everything from the way the finance department paid wages to how relationships were being built with suppliers. However, doing this would shake up the way the club had been run and had the potential to ruffle many feathers.

“To have a successful business, you have to build a brand that people trust, believe in and want to work with and for,” she remarked.

To tackle this, she focused on building a culture that centered around better communication and ensuring employees knew their role in the business journey. Key to transforming the club was the fact that her changes were implemented with overall goals in mind and each new process was articulated as a step to achieving these.

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