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Stop waiting for easy: why the hard road builds better business owners

Elite Business: Stop waiting for easy: why the hard road builds better business owners

In this article, originally featured in Elite Business: Hardship in business is not always a warning sign. Sometimes it is the training ground that builds stronger owners and better businesses



Most business owners spend years hoping things will eventually become easier. Easier cash flow. Easier staffing. Easier growth. Easier decisions.

I understand why. Business ownership can be relentless. The pressure is constant, and there are moments where it feels like success should surely come with less struggle. But the hard road is often shaping the very capability the business will eventually need from you.

I was reminded of this recently while spending time with a manufacturing business operating in a practical, everyday sector. The kind of business most people barely notice until something goes wrong. Yet when it does, suddenly it becomes urgent and important.

The owner had not followed some perfectly planned entrepreneurial journey. There had been setbacks, responsibility arriving too early, difficult decisions and long periods of uncertainty. That is more common than most people admit.

Too often, we look at successful businesses and assume the owner had clarity from the beginning. Most did not. Most owners learn through pressure. They grow because the demands of the business force them to grow.

That is why many owners misunderstand hardship. Not every difficult season is a sign something is broken. Sometimes difficulty is the training ground.

Of course, poor systems, weak financial discipline and operational chaos should never be accepted as normal. Those issues need fixing. But even well-run businesses face pressure because growth itself creates pressure.

A bigger business demands a different version of the owner: more resilience, better judgement, greater emotional control.

You do not develop those qualities before growth happens. More often, the business forces them out of you as it grows.

I have seen owners carry payroll through brutal trading conditions, recover from losing major customers, and navigate personal hardship while trying to keep the business stable. None of it feels valuable while you are inside it.

But over time, if the owner learns from the pressure rather than simply fighting it, something changes. Decisions improve and systems strengthen, the owner becomes calmer and more capable under pressure. The business grows because the owner grows.

Think about physical training. Nobody builds strength by avoiding resistance. Strength comes through resistance. The pressure itself forces adaptation.

Business works much the same way.

That does not mean every hard season automatically produces growth. Some owners become reactive or exhausted by prolonged pressure. Difficulty can absolutely shrink a person if it is allowed to consume them.

But I have also seen many owners emerge stronger, more focused and better able to build proper structure into the business. And structure is what matters.

Enduring businesses are not built on hustle forever. They are built on systems, leadership, consistency and sound decision-making. Businesses capable of functioning and growing without exhausting the owner every single day.

So perhaps the question is not, “Why is this hard?” Perhaps the better question is, “What is this season trying to teach me?”

Because sometimes the struggle is not blocking growth, it is preparing you for it.

By Pavlo Phitidis

Elite Business: Stop fighting the noise: growth starts with what you control

Elite Business: Stop fighting the noise: growth starts with what you control

In this article, originally featured in Elite Business: Growth begins when you stop reacting to external pressure and start improving what you control: the systems, standards and structure inside your business.



Growth begins when you stop reacting to external pressure and start improving what you control: the systems, standards and structure inside your business. Most businesses don’t stall because of what’s happening outside them. They stall because of where the owner is putting their attention.

I know a manufacturing business that operates in one of those industries most people ignore. Not glamorous. Not talked about. The kind of work that sits behind the scenes, quietly keeping everything else running. It produces high-volume, precision components the kind that stop leaks, protect systems and keep machinery, vehicles and infrastructure working as they should. Nothing about it screams excitement, but everything about it matters. And that’s exactly the point.

The business operates in a tough environment: cheap imports, rising input costs, regulatory pressure, infrastructure issues. The usual list that most owners can recite without thinking. For a long time, like many businesses, it was doing what most do under pressure reacting to the noise. Watching competitors, worrying about pricing pressure, getting pulled into day-to-day disruptions that drain time and energy, trying to respond to everything happening “out there.”

Progress was slow. Frustratingly slow.

Then something shifted. Not in the market, and not in the economy in the business. The leadership made a deliberate decision to stop feeding the noise and start backing what they could control. It sounds simple. It rarely is.

They began tightening standards across the operation not in a big, dramatic way, but in small, consistent moves. Tolerances, quality checks, output consistency. They invested in plant and machinery where it mattered most not everywhere, just where it would lift capability and remove constraints. They improved stockholding and response times so customers didn’t have to wait, and orders could be fulfilled faster and more reliably. And they worked on mindset: less complaining, more building.

None of this made headlines. But all of it compounded.

The business became easier to buy from, easier to trust and easier to rely on. In industries where failure is expensive, that matters. Customers noticed. Then they returned. Then they brought more work.

Export opportunities opened not because the business chased them aggressively, but because its capability started to travel. Quality, consistency and responsiveness are universal currencies. Today, that same business is supplying customers across multiple international markets.

This is where most business owners get stuck. They spend their best energy on what they cannot change: the economy, policy, competitors, infrastructure, pricing pressure. These are all real and frustrating, but they are largely outside your control. And while that focus feels justified, it quietly drains the one resource you cannot afford to waste your attention.

Because growth doesn’t start “out there.” It starts when your attention comes home.

What can you improve? What can you tighten? What can you build so well that the market has to take you seriously?

That is the shift. From reacting to conditions to building capability. From defending position to strengthening it. From running a business that survives the environment to building one that performs despite it.

If you step back, this is not just an operational shift it’s a structural one. You are strengthening your system of delivery: the way work gets done, consistently. And when that system improves, something important happens. The business starts to rely less on effort and more on structure less on firefighting and more on repeatability.

It doesn’t happen through one big move, but through a series of deliberate decisions about what you will and will not focus on.

So here is a practical place to start. Pick one area of your business that directly affects your customer’s experience speed, quality, consistency or reliability. Then ask a simple question: what is the one improvement we can make here that would be felt immediately by the customer?

Then do that. Properly. Not halfway. Not when you have time properly.

Because in the end, most markets don’t reward the business that shouts the loudest. They reward the one that works the best. And that is always something you can control.

By Pavlo Phitidis

Stop guessing, start growing, commit demand before you invest

Elite Business: Stop guessing, start growing, commit demand before you invest

In this article, originally featured in Elite Business: The wrong sequence kills growth. Commit demand first, then build capability that scales without burning you out


I was sitting with a manufacturing business recently. Good product. Solid reputation. Skilled people on the floor. But like many businesses I see, it was working far harder than it should for the returns it was getting.

For them, and many businesses, one missing capability was the bottleneck to growth. It’s the equivalent of having a powerful engine but a blocked fuel line.

Fix that one constraint, and suddenly everything flows faster. Orders move quicker. Waste drops. Margins improve. Customers notice.

In their case it was set up times. The hours before production starts and delays between jobs. The small inefficiencies that multiply across thousands of units.

If your system takes too long to get going, you burn time and cash before you’ve even created value.

Now here’s the pattern:

A business spots an opportunity to solve that problem. There’s a component, a process, or a capability that could dramatically improve speed, quality, and consistency for customers. It’s not glamorous, but it matters. A lot.

So the owner thinks: “If I invest in this, the market will come.”

That’s where things go wrong.

“Build it and they will come” is not a strategy. It’s a gamble.

And most established business owners can’t afford gambles anymore. You’ve got payroll, customers, and families depending on you.

The smarter play is to flip the sequence.

Commit first. Then build

Secure demand before you invest.

I’ve seen too many owners buy machines, hire teams, or expand capacity based on assumptions. Hope is doing the heavy lifting. Then the pressure starts. Debt needs servicing. Capacity sits idle. Stress goes up.

Instead, sit down with a handful of key customers. Not dozens. Two or three is enough.

Ask a simple question: “What would make you move meaningful volume to me?”

Get specific: Price. Lead time. Quality. Reliability. Then make a counter-offer:

“If you commit that volume, I will build the capability to deliver it.”

Now you’re not guessing. You’re building on something bankable.

A second component of this is one most owners resist: You can’t scale a business that sits on your shoulders.

If growth depends on you pushing every deal, solving every problem, and holding everything together, you don’t have a scalable business. You have a job that’s getting heavier.

So as you build new capability, you must build the team and structure around it. Clear roles. Defined processes. Accountability that doesn’t route back to you.

Committed demand; targeted capability and a strengthened team sees something powerful happening.

  • You reduce risk.
  • You make funders more comfortable.
  • You create momentum that doesn’t rely on constant effort from you.

If you’re feeling stuck…working hard but not moving forward, don’t look for a silver bullet, look at the sequence.

Don’t build and hope; Commit, then build.

By Pavlo Phitidis

Elite Business: From commodity to control: how to escape the price trap

Elite Business: From commodity to control: how to escape the price trap

In this article, originally featured in Elite Business: Businesses can move beyond price competition by solving higher-level client problems and building structured, recurring revenue models.


Most businesses don’t struggle because they lack effort, skill or brilliant offerings. They struggle because they’re competing in the wrong game.

Consider the owner of a £10-million business in a fiercely competitive industry. Low barriers to entry. Endless competitors. Constant price pressure. Wild swings in revenue.

On paper, the business supplied branded collateral and event support. In reality, it was trapped in a commodity war as every client discussion ended with price.

Here’s the hard truth: if every conversation ends in price, you haven’t defined the real problem you solve.

Growth doesn’t fix structural weakness

The business had finally hit a long-chased revenue milestone. But relief didn’t come from pushing harder. It came from tightening structure.

Many owners believe the next revenue jump will ease the pressure. It won’t.

The problems you have at 10 million reappear at 20 million, just larger and more expensive. Small inefficiencies become structural cracks and if you don’t fix them early, scale magnifies them.

Growth amplifies structure, both good and bad.

Stop selling items. Start solving headaches.

Nobody spends money for fun. Every spend solves a problem. The question is whether you’re solving the real one.

In the case of this business, when we started digging deeper, a pattern emerged.

Large organisations with multiple branches struggle with brand inconsistency.

Regional teams run events differently, budgets get wasted, collateral disappears and standards slip.

The senior decision-maker isn’t worried about the price of a pen. They’re worried about loss of control.

That’s the real problem.

Shift the conversation from: “Can you quote on 500 units?“ To: “How do we ensure every branch event across the country is executed consistently, within budget and on brand?“

Now you’re no longer selling merchandise. You’re selling governance, risk reduction and brand protection, and senior leaders pay for that.

The recurring revenue shift

Move from transactional sales to a recurring service model.

Instead of supplying items per event, design and manage the event system.

Imagine this:

• Each branch runs a predictable number of events annually. • Each event has a standardised “kit“ that could include signage, uniforms, gifting and collateral. • The kit is stored, maintained and deployed by you, then reused. • Usage is tracked, waste drops and brand quality improves.

You’ve shifted from selling products to delivering reliable execution at scale.

That stabilises revenue. It smooths cash flow. It builds predictability. And predictability increases valuation.

Buyers don’t pay for erratic project income. They pay for contracted, repeatable revenue streams.

Three practical actions

1. Identify the bigger problem Ask: what keeps my customer’s boss awake at night? Aim there.

2. Package outcomes, not inputs Sell consistency, control and predictability, not physical products or one-off services.

3. Design for revenue stability Build recurring agreements that reduce seasonal volatility and protect cash flow.

The moment you stop fighting over the price of the pen and start solving the headache in the boardroom, you step out of the commodity trap.

And that’s when you start building a scalable business.

By Pavlo Phitidis

Why growth feels risky for so many good businesses

Elite Business: Why growth feels risky for so many good businesses

In this article, originally featured in Elite Business: Growth exposes structural weaknesses in good businesses long before it delivers the rewards owners expect


For many established business owners, growth is supposed to feel like progress. More customers. Bigger contracts. Wider reach. Yet time and again, I see owners hesitate at precisely the moment their business should be scaling.

Not because they lack ambition.
But because growth feels risky.

I recently sat with an owner of a well-established manufacturing business supplying large retailers. This wasn’t a start-up chasing its first break. It was a second-generation company with years of hard-earned credibility, strong demand and trusted relationships. A national opportunity was on the table, the kind most founders dream of.

And yet, the dominant emotion wasn’t excitement. It was unease.

That feeling is far more rational than many people realise. Businesses rarely stall because they can’t sell. They stall because they can’t deliver consistently once complexity increases.

In this case, the product was used in-store by retail staff across hundreds of locations. Quality depended on how well individuals handled, prepared and applied it. When everything went right, the outcome was excellent. When it didn’t, the brand paid the price, often without knowing where things had gone wrong.

That’s not a people problem. It’s a structural one.

When consistency relies on people “just knowing” what to do, growth becomes fragile. Owners sense this instinctively. They worry about reputation risk, loss of control and the creeping reality that success might actually increase stress rather than reduce it.

The most common mistake at this point is to look for answers in the wrong places. Owners talk about more capacity, more factories, more trucks or more effort. They push harder, believing growth is a matter of energy and ambition.

But scale doesn’t fail because of ambition. It fails because systems don’t keep up.

The turning point in this business came when the question changed. Instead of asking how to supply nationally, the owner asked how to remove variability from the system altogether. The answer was not complicated, but it was powerful: a clear system of delivery.

They began building a simple online training platform for store staff. Short, practical videos showed exactly how the product should be handled, prepared and stored. One standard. One way of doing things. Staff completed the training, passed a basic assessment and were accredited.

Nothing flashy. Just clarity and repeatability.

That shift transformed the business. Quality no longer depended on constant supervision or experience living in people’s heads. The retailer’s operational burden reduced. The supplier moved from being a commodity to a strategic partner. And critically, the owner was no longer the glue holding everything together.

I often say that structure determines behaviour, and behaviour determines outcomes. If a business depends on the owner checking everything and fixing problems after the fact, growth will always feel dangerous. Systems are what make scale sustainable.

There’s an uncomfortable truth beneath many growth conversations. If landing one big contract would dramatically change your life, your business isn’t quite ready yet. That doesn’t mean you’re in trouble, it means your structure hasn’t caught up with your ambition.

Growth isn’t about pushing harder. It’s about building better architecture. When the structure is right, growth stops feeling like a threat and starts becoming the reward business owners worked so hard for in the first place.

By Pavlo Phitidis

Elite Business: Strategic resilience in a tariff-impacted world: A practical blueprint for UK exporters

Elite Business: Strategic resilience in a tariff-impacted world: A practical blueprint for UK exporters

In this article, originally featured in Elite Business: Rising U.S. tariffs are set to disrupt global supply chains, tighten margins, and push inflation and interest rates higher


Rising U.S. tariffs are set to disrupt global supply chains, tighten margins, and push inflation and interest rates higher. For exporters, this means higher costs and unpredictable market conditions.

The key to thriving in this environment is resilience—guarding against risks while seizing new opportunities.
A brand exporting manufactured products must act decisively to keep operations agile, cost-efficient, and market responsive. Here’s a practical blueprint to navigate these challenges effectively.

Reinforcing the foundation

Why it works

Relying on a single source is vulnerable. Spreading orders across multiple suppliers reduces risks from tariff hikes and supply disruptions and allows for negotiation with existing suppliers.

Example: A hair extension distributor once sourced Remy hair exclusively from Italy. When an earthquake disrupted supply, the company turned to an alternative provider in Brazil. This move secured supply and introduced a lower-cost fighter brand, making their offering more competitive and resilient.

Localize production or assembly

Action: Shift parts of the production process to the U.S. or regions with favourable trade agreements.

Why it works: Partial localisation can bypass tariffs, reduce lead times, and improve market responsiveness.

Example: A U.S. engineering firm expanding across Africa partnered with a local geospatial intelligence supplier. This move provided on-the-ground insights, strengthened relationships with regional governments, and led to a preferred status on new projects.

Optimize inventory and production processes

Action: Build a safety stock of key materials and apply lean manufacturing principles.

Why it works: Holding essential inventory shields against supply disruptions, lean processes reduce waste and lower costs, making operations more resilient. Tariff-induced inflation also makes holding stock a strategic store of value.

Example: A biker clothing brand struggled with denim shortages in China. When a factory’s large order was cancelled, the company capitalised on the opportunity, securing bulk denim at a favourable price. This stabilised supply and provided a higher return than cash in the bank.

Adjust pricing strategies and product configurations

Action: Develop flexible pricing models and redesign products to minimise tariff-sensitive components.

Why it works: Passing every cost increase to customers is unsustainable. Innovative pricing and product adjustments help maintain a competitive edge while protecting margins.

Example: A company splits its value proposition between a physical product and essential services. While the product attracted tariffs, the services did not.

Build strong, local partnerships

Action: Establish relationships with U.S.-based distributors and retailers.

Why it works: Local partners provide market access, logistical support, and insights, accelerating market penetration while mitigating tariff impact.

Example: When Brexit hit, many exporters partnered with Dutch distributors to share warehouse space and logistics resources. This strategy minimised tariff exposure and expanded their European presence and relevance.

Embrace continuous innovation

Action: Invest in R&D to improve products and explore new materials.

Why it works: Innovation ensures competitiveness even as cost pressures rise.

Example: A German company invested in a green steel plant in Namibia, gaining access to carbon credits and eco-friendly credentials. This move strengthened its market position in Northern Europe, where sustainable products command a premium.

Expand market reach

Action: Reduce dependence on the U.S. by targeting alternative international markets.

Why it works: Diversifying across multiple regions spreads risk and uncovers new growth opportunities.

Example: Nando’s, initially a South African brand, expanded globally by franchising to South African expatriates. Similarly, rising UK emigration has opened new markets in the UAE, Singapore, and the U.S., where British nationals are investing and relocating.

Strengthen brand positioning through authentic storytelling

Action: Enhance marketing by showcasing your brand’s heritage, quality, and innovation.

Why it works: A strong brand narrative builds customer loyalty and justifies premium pricing, even when costs rise.

Example: British heritage brands like Brompton Bicycles and Denby Pottery emphasise their craftsmanship and local production advantages, creating deep emotional connections with consumers.

The path forward

This is not a theoretical exercise—it’s a practical roadmap for exporters facing a tariff-driven landscape. Companies can strengthen their defensive position by diversifying supply chains, localising operations, and optimizing production. Meanwhile, forging strong partnerships, continuously innovating, and expanding into new markets create opportunities for sustained growth.

The key to long-term success is adaptability. Implement these steps, stay alert to market shifts, and refine your approach as conditions evolve. A well-executed strategy ensures your brand thrives in an ever-changing global economy.

By Pavlo Phitidis

Elite Business: New era for employer-employee dynamics

Elite Business: New era for employer-employee dynamics

In this article, originally featured in Elite Business: Structure Determines Behaviour,” new employment legislation presents an opportunity to reshape our approach to finding, training, and retaining talent.


In response to the Labour budget, I recently facilitated a roundtable engagement with angry business owners. The deeply furrowed brows of concerned senior leaders concluded with a paradigm shift that opened new growth pathways.

WATCH more on this here

The recent UK budget and tightened employment laws may feel like an attack on business, but they also present an opportunity to redefine how we structure our organisations. The post-COVID remote work and the post-Brexit skills crisis have stretched and reshaped the traditional employer-employee compact. This could be the perfect moment to rethink and rebuild for businesses looking to thrive.

The value exchange in employment

At its core, the employer-employee relationship is a value exchange. A business pays a salary or bonus to derive measurable value from the employee’s work. Yet, many organisations need to quantify this exchange effectively, leaving them vulnerable to inefficiencies and misaligned expectations. If we can measure the value of tangible assets like machinery, why not apply the same principle to our people?

Consider the machine in a cheese-slicing business. The machine’s performance is precisely measurable: slicing 528 monthly blocks under optimal conditions. The operator’s role, which includes setting up, running, and maintaining the machine, can also be broken into measurable activities. This clarity in defining measurable tasks allows for more effective recruitment, value exchange and performance management. Each party knows what’s expected of them!

This same approach can—and should—be applied to every role in your business. It’s even more necessary in a services business where the assets (your people) walk out the door every evening. By viewing roles as systems comprising sequential, measurable activities, you unlock opportunities to improve recruitment, streamline performance management, and ultimately increase your return on employment.

Systems thinking for a changing workforce

The escalating costs and risks of employment demand a new way of thinking. Systematising work not only improves clarity but also highlights activities that can be digitised or automated. This frees employees from mundane tasks to give their time and attention to more interesting work. It also allows leaders to focus on core, strategic areas as they lighten their management load through effective, sticky delegation, which also helps reduce fixed costs.

This method addresses immediate challenges and builds resilience. Systematic roles and processes simplify delegation, training, and scaling. Far from constraining employees, it gives them freedom within a framework to fully express their potential in a role. As employment laws become stricter and employment costs rise, this structured approach offers sustainability, cost management, productivity gains, and resilience.

Engineering for the future

The Labour government’s changes may feel like a setback, but they invite us to rethink how we structure work. Redefining roles into systems will improve your recruitment success, employee tenure, and productivity and open pathways to digitisation, automation, and outsourcing. In this, a more agile business can be built, and without compromising customer experiences, a less cumbersome salary bill will help lighten the load of senior leaders to focus on what counts – growth.

When structure determines behaviour, thoughtful engineering of your business systems and roles can turn the challenge presented by Labour into opportunities.

By Pavlo Phitidis

Exhausted and overwhelmed? How to break the cycle of cognitive burnout

Elite Business: Exhausted and overwhelmed? How to break the cycle of cognitive burnout

In this article, originally featured in Elite Business: Simplifying your business focus is a necessary and effective approach to easing cognitive burnout and re-energising yourself and your business.


As business leaders we face constant decisions, information, and pressures, leaving many exhausted and disillusioned. While it might seem like an inevitable part of business, this mental drain has a specific cause. George Parsons’ research into cognitive overload tells us that our brains can only juggle so much at once. When flooded with demands, we slip into a “freeze, fight, flight, or fawn” state, similar to how the body reacts under threat. If left unchecked, this cycle of overload and avoidance can paralyse decision-making.

To remain effective, regain control and break the burnout cycle, we need to simplify our business focus.

Understanding cognitive overload and the cost of ‘doing everything’

Running a business has become a lot more complex as a result of Brexit, COVID, skills crises, the cost of living, collapsing infrastructure, and morphing tax, climate, and employment legislation in a moribund economy. This load is compounded by the 24/7/365 information cycle—endless streams of news, events, and opinions accessible around the clock via digital channels. Each input demands attention, shifting focus and energy from meaningful decisions to constant reactions.

When constantly overwhelmed, our brains struggle to manage it all, slipping into cognitive overload. George Parsons’ research on memory says that our brains handle around 7 (give or take 2) pieces of information at a time, and operating beyond this causes lapses, errors, and mental strain. The freezing, fighting, fleeing, or fawning, behaviour often seen in business decisions. The result? Fatigue, hesitation, and even avoidance in making choices.

Instead of stretching to meet every demand, the answer may lie in slimming down: identifying who you serve best, what problems you solve, and aligning your business around that specific purpose.

Simplifying through purpose: Shift from selling to solving

If you’re feeling drained, it may be time to refocus on a core purpose—moving from merely selling products and services to solving tangible problems for a defined customer group. Rather than trying to attract everyone, determine your addressable market, not just anyone who could buy your product but those who genuinely benefit from your solution. By narrowing down your focus to a specific problem or set of problems, you simplify decisions, define clear objectives, and build credibility in one area.

Redefining your purpose lets you gain clarity on the customer experience and understand exactly what drives your target buyer. This clarity lets you streamline your lead generation, conversion, fulfilment, and retention processes. When you specialise in solving a defined problem, every part of the customer journey, from initial interest to loyal repeat customers, becomes clear and refined. As a result, cognitive load reduces, and your expertise grows, allowing you to deliver a solution repeatedly, efficiently, and with greater impact.

Next, delegate to build expertise. Reducing cognitive overload requires offloading tasks to others where possible. As you narrow your focus, empower your team to manage parts of the process. Delegation isn’t about giving up control but establishing a trusted system for repeated success.

And try to limit information overload, limit digital inputs to specific times each day. By creating boundaries around digital consumption, you avoid reacting to each update and focus on meaningful decisions.

Purposeful simplification as a path to lasting resilience

You create a structure that combats cognitive overload by aligning your business with a focused purpose and a clear audience. Instead of juggling every demand, you work intentionally, focusing on high-impact decisions that drive meaningful growth. This refined approach allows your brain to engage in deeper, strategic thinking, building resilience to handle future challenges.

George Parsons’ insights remind us that success isn’t just about doing more but about simplifying effectively to do better. Cognitive resilience comes from managing mental resources wisely, avoiding burnout, and creating a focused environment that builds expertise, confidence, and strength. By slimming down, business owners can regain control and clarity and, ultimately, a path to more sustainable and energised growth.

By Pavlo Phitidis

Elite Business: Beefing up the meat in Britain’s sandwich economy

Elite Business: Beefing up the meat in Britain’s sandwich economy

In this article, originally featured in Elite Business: Think of the economy like a sandwich, with the mid-tier businesses making up the meaty centre.


The highest nutritional value of a meat sandwich is the meat. Its high protein and minerals outweigh the high-carb content of its neighbours.

Most economies are like meat sandwiches. The UK’s economy is a sizable one, with 5.59 million businesses employing 27 million people and generating a hefty £ 4.5 trillion annual revenue.

The bottom slice of bread makes up the largest segment of business: the 5.3m sole proprietors and micro-enterprises who employ, on average, 1.6 people each. In effect, these businesses are self-created “jobs” for their owners. They also make up a significant voting population. Let’s make a tentative assumption that most of these entrepreneurs have a partner with everything to gain and lose from their economy. That means the voting power of this segment approaches a meaningful 10.6m ballot wins. Keeping them happy is a vital priority of any adept politician with eyes on Downing Street.

The top side of the sandwich sees dramatically smaller 8,000-odd companies that carry significant punch in their employment and tax contributions. With their extensive boards, NEDs, advisors, investors, c-suite executives, and deep establishment, sometimes centuries old, they carry weight in the corridors of Whitehall and feed a thriving public relations and media industry. A ‘lobbying’ budget to access the biggest customer in the land is not uncommon, nor is the understanding that your government representative today will likely be your board member tomorrow as the revolving door of politics and business swivel on the axis of shared interest.

The middle of this sandwich makes up the remaining 246,000 companies that carry the unfortunate moniker SME. Mostly privately held by growth-minded, self-funded entrepreneurs, they employ an average of 58.5 people. They don’t have the numbers to impact voting significantly, nor the budgets to invest in lobbying the government for access to opportunities or to influence policy. They also are considered by many to be “doing just fine”, implying that they are better off than the many who are not and, therefore, no resources or support should be directed their way. Yet society should pay closer attention to them.

Building a business that matures from micro to established and growing requires a growth mindset. That mindset sees the business owner continuously investing their money and time, committing to the 50 to 80-hour week commonly needed to fill the multiple roles their business demands, making them some of the most committed investors in our country. Their limited access to funding also increases their investment horizon. Building a business into a wealth-generating asset typically requires a 20 to 30-year investment horizon. It takes time and money to anchor the business within its locations, communities, suppliers, customers and employees. SMEs also face high levels of competition, given the maturity of our economy and the vested interests in this segment. Competition drives innovation, which attracts talent and funding. Focusing on SMEs across the UK is vital to levelling up and creating a fairer, more inclusive economy, which is the cornerstone of sustaining a democracy.

As an aside, my objection to SME as a descriptor of this segment is manifold. I’ve yet to meet a business owner who is joyously risking everything they have, griding out 80-hour weeks, contending with the relentless challenges posed by suppliers, customers, employees and increasingly government red tape with the intent of building a ‘small’ business. Reducing the dreams and ambitions of front-footed entrepreneurs is offensive and condescending. Governments and corporations that refer to this segment ought to think about changing their language to change their behaviour and find resonance and relevance to this segment, whether they be clients or a voting segment of society.

Building, amplifying and accelerating the nutritional value of the meat in the sandwich to deliver these outcomes is critical to unlocking a thriving economy that puts Britain back in a leading position in the global economy. Let’s back these businesses with fervour and enlightened self-interest.

By Pavlo Phitidis

What does being a ‘leading business’ in your industry mean?

Elite Business: What does being a ‘leading business’ in your industry mean?

In this article, originally featured in Elite Business: Like a health-check for humans, a business health check aligns you and your team to drive towards a common destination.


Achieving industry leadership is not trivial in the business world. Yet, when asked about their future ambitions, many state they want to be ‘a leading business in the industry’ or ‘the industry leader in XYZ’. Given this propensity and to not trivialise this achievement, let’s dig into what it truly means to be a leader in your industry and outline practical steps to move from a vague vision statement to a measurable and achievable business objective.

What does it mean to be a leading business?

When pressed to explain what “leading” means, business owners often struggle to provide a clear definition. Without a precise and measurable definition of leadership, this goal can become an empty claim, communicating that your commitment to growth is thoughtless and relies on hope and prayer rather than a clearly defined intent and action plan.

The importance of clarity

A business must define leadership in its specific context to become a true industry leader. Is it about market share? If so, who constitutes the market? For example, if you manufacture luxury furniture, you need to break down what “luxury furniture” includes. Is it dining room tables, sofas, chairs, or lounges? Understanding your market and product specifics is crucial.

Setting realistic and measurable goals

Let’s say your focus is on luxury dining room tables. The first step is determining how many such tables are bought annually in your target market. If you identify that 500,000 dining room tables are sold each year in your defined geographic region, you then need to ascertain how many of these qualify as high-quality luxury items. Suppose 5,000 of these meet the high-quality standard. This gives you a tangible target to aim for.

Understanding market share

You must know your competitors and their market shares to claim industry leadership. If you have ten competitors and the market is evenly split, each would sell about 500 tables annually. If your goal is to be the leading supplier, you must sell more than 500 tables annually. By consistently increasing your sales figures—say from 500 to 600 to 1,000 to 1,500—you can objectively measure your progress towards market leadership.

Enhancing business operations

Achieving and maintaining a leading position requires continuous improvement in various aspects of your business. This includes enhancing your products’ quality, price, service, delivery, durability, and brand reputation. By systematically improving these areas, you can increase your market share and solidify your status as an industry leader.

Claiming to be the leading business in your industry is more than just a statement—it requires a clear, measurable, and achievable plan. By defining what leadership means in your specific context, understanding your market, setting realistic goals, and continually improving your business operations, you can become a true leader in your industry.

I give a quick overview of this idea in a 2m 23s video.

By Pavlo Phitidis