As Managing Director of a $150m revenue technology business, we found this transition difficult at first. Items which helped us create am efficient organisation whilst building on the clear advantages of remote working included:

Set clear expectations: Clearly communicate the goals, objectives, and performance expectations to remote employees. This includes deadlines, deliverables, and any specific guidelines or requirements.

Establish regular communication: Schedule regular check-ins with remote employees to provide feedback, discuss progress, and address any concerns or questions. Utilize video conferencing tools for face-to-face interactions whenever possible.

Use collaboration tools: Implement project management and collaboration tools to facilitate communication, document sharing, and task management. This ensures that remote employees can easily access necessary information and stay organized.

Foster a sense of belonging: Create opportunities for remote employees to feel connected to the team and the organization. Encourage participation in virtual team-building activities, organize virtual events, and promote open communication channels for social interactions.

Trust and empower: Trust remote employees to manage their own work and make decisions. Provide them with the necessary resources and support, and empower them to take ownership of their tasks and projects.

Provide ongoing training and development: Offer remote employees opportunities for professional growth and skill development. This can include online training programs, webinars, or virtual workshops to enhance their knowledge and capabilities.

Prioritize work-life balance: Encourage remote employees to maintain a healthy work-life balance by setting boundaries and promoting self-care. Avoid expecting them to be constantly available outside of regular working hours.

Recognize and reward achievements: Acknowledge and appreciate the accomplishments of remote employees. Celebrate milestones, provide recognition for outstanding work, and offer rewards or incentives to motivate and boost morale.

Foster a culture of open communication: Encourage remote employees to share their ideas, concerns, and feedback openly. Establish a culture where everyone feels comfortable expressing their opinions and where their input is valued.

Regularly evaluate and adjust: Continuously assess the effectiveness of your remote management practices and make necessary adjustments. Regularly seek feedback from remote employees to identify areas of improvement and implement changes accordingly.

Having been the COO and MD of $150m revenue companies over the past 5 years I have had direct experience of this transition and the pros and cons which accompany.

Remote work has been growing in popularity even before the COVID-19 pandemic, and the global health crisis has accelerated its adoption. While it is difficult to predict the future with certainty, remote work is likely to continue to be a significant part of employment in the coming years. Here are a few reasons why:

Advancements in technology: Technology has made it easier than ever to collaborate and communicate remotely. With tools like video conferencing, project management software, and cloud storage, teams can work together effectively regardless of their physical location.

Cost savings: Remote work can save both employees and employers money. Employees can avoid commuting costs, office attire expenses, and eating out, while employers can reduce office space and related expenses.

Work-life balance: Remote work offers greater flexibility, allowing individuals to better balance work and personal responsibilities. This can lead to increased job satisfaction and productivity.

Access to global talent: Remote work allows companies to tap into a global talent pool, giving them access to a wider range of skills and expertise. This can lead to increased innovation and competitiveness.

Environmental benefits: Remote work reduces the need for commuting, resulting in lower carbon emissions and less traffic congestion. This aligns with the increasing focus on sustainability and reducing environmental impact.

While there may be some industries or roles that require in-person presence, many jobs can be performed remotely. However, it is important to note that remote work may not be suitable for all individuals or organizations, and a hybrid model that combines remote and in-person work may be more common in the future but flexible working is here to stay in my opinion.

In my significant experience, creating an inclusive workplace environment that attracts and retains entry-level job seekers from various backgrounds requires a comprehensive approach that addresses diversity, equity, and inclusion. Here are some strategies that companies can adopt:

Diverse recruitment practices: Companies should actively seek out diverse talent by expanding their recruitment efforts to include a wide range of sources such as job boards targeting specific communities, partnerships with diversity-focused organizations, and campus recruitment programs at universities with diverse student populations.

Unbiased hiring processes: Companies should ensure their hiring processes are fair and free from bias. This can be achieved by implementing blind resume reviews, structured interviews with standardized questions, and diverse interview panels to minimize unconscious biases.

Inclusive onboarding and training: Companies should provide comprehensive onboarding programs that help new employees from various backgrounds feel welcomed and supported. Training programs should also focus on diversity, inclusion, and cultural competency to educate employees about different perspectives and promote understanding.

Employee resource groups (ERGs): Establishing ERGs can provide a platform for employees from different backgrounds to connect, share experiences, and support each other. These groups can also advise the company on policies and initiatives that promote inclusivity.

Mentorship and sponsorship programs: Companies can develop mentorship and sponsorship programs that pair entry-level employees with experienced professionals who can provide guidance, support, and advocacy. This helps create a sense of belonging and facilitates career growth for individuals from diverse backgrounds.

Inclusive policies and benefits: Companies should review their policies and benefits to ensure they are inclusive and cater to the needs of employees from various backgrounds. This may include flexible work arrangements, parental leave policies, religious accommodations, and accessibility measures.

Ongoing diversity and inclusion training: Regular training and workshops on diversity and inclusion topics can help employees understand the importance of creating an inclusive environment and provide them with tools to navigate and address biases and microaggressions.

Transparent advancement opportunities: Companies should provide clear pathways for career advancement and ensure that opportunities for growth and promotion are accessible to all employees, regardless of their background. This can be achieved through transparent performance evaluations, mentorship programs, and leadership development initiatives.

Regular feedback and listening sessions: Companies should create channels for employees to provide feedback and share their experiences. This can be done through surveys, focus groups, or town hall meetings. Actively listening to employees' concerns and taking appropriate action demonstrates a commitment to inclusivity.

Leadership commitment: Finally, creating an inclusive workplace requires commitment from the top. Company leaders should demonstrate their commitment to diversity and inclusion through visible actions, resource allocation, and accountability for progress.

By implementing these strategies, companies can create an inclusive workplace environment that attracts and retains entry-level job seekers from diverse backgrounds, fostering a culture of belonging and driving innovation and success.

Hi, I am the Managing Director of a $100m Technology Company.

In my experience, the best mentors and coaches are those who have been there and done it. Whilst business school education is extremely beneficial, I personally find far more value in coaching from those who have been successful in the area I require input. The key to successful marketing is therefore demonstrating the value you can add and backing this up with your own personal experience.

Please have a look at my profile and LinkedIn account and reach out should you feel that I can add value to your venture.

Hi,

I am the Managing Director of a $100m Technology Company

Private Equity are looking for high growth potential investments with a 3 year exit plan. Experience of the management team with past success will be a major consideration.

Best Regards,

Hi,

I am the Managing Director of a $100m Technology Company and I always use the Sales Funnel approach to drive sales and business Growth. I have written a short blog which you may find useful

https://www.mrgrowthmentor.com/post/highly-effective-business-growth-strategy-the-sales-funnel

I would be pleased to discuss your situation further.

Best Regards.

Hi, I am the Managing Director of a $100m Technology Company and I consider there to be 2 approaches to pricing:

1. From the bottom up. This is where you calculate the cost of production / the service including all overheads and your time and then add the profit margin you wish to make on top.

2. Top down: What is the market willing to pay for your product and charge that price. For this approach you may need to do competitor and or market analysis or simple trial and error.

In my line of work, we regularly have a significant competitive advantage which makes option 2 far more attractive. By way of example, if I used option 1 with a standard 20% margin added, I would charge the client around $50k per day for our services. Option 2 allows me to charge $150k per day.

Checkout my blogs at www.mrgrowthmentor.com for further insight.

I would be happy to talk through your specific situation at your convenience.

Hi,

I am the MD of a $100m Technology company who operated a share incentive program until we were acquired by a Private Equity company in 2019.

This is all very much dependent on the value different people take to the table and who currently owns the equity. It is common for Management teams to hold anywhere from 3% to 20% of the total company's equity with the CEO having the largest share as you work down the value chain.

Once you have established how you wish to distribute the equity, formalizing should be a relatively simple process.

I would be happy to talk through your requirements in more depth at your convenience.

Please also see my Business Blogs at www.mrgrowthmentor.com.

Best Regards.

Hi,

I am the Managing Director of a $100m Technology company and I have recently written a blog which you may find useful:

https://www.mrgrowthmentor.com/post/20-years-of-business-growth-here-are-my-most-valuable-lessons

Happy to discuss your needs further at your convenience.

Hi,

I am the Managing Director of a $100m Technology company and I have recently written 2 blogs which you may find useful. The first talks through the Sales Funnel concept:

https://www.mrgrowthmentor.com/post/highly-effective-business-growth-strategy-the-sales-funnel

The 2nd outlines all my major learnings from the past 20 years:

https://www.mrgrowthmentor.com/post/20-years-of-business-growth-here-are-my-most-valuable-lessons

Happy to discuss your needs further at your convenience.