How to REALLY run a business with Ed Reid

Exciting things have been happening here at TAB (UK) HQ. Our very own managing director, Ed Reid, was invited to join Jake Humphrey and three other very successful business owners on the High Performance podcast.

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In the episode 'How to REALLY run a business in 2024,' the guests shared the key attributes required to lead a business and the important lessons they've learnt along the way. 

During the podcast, Ed, Maggie, Clement and Alice discussed the highs and lows of their business journeys and how small improvements can make a big difference in achieving success.

Here are some of our favourite moments from Ed...

Combating loneliness as a leader

Ed highlighted a common issue faced by many business leaders: loneliness. "As businesses grow, leaders often feel isolated."  This is where peer advisory groups, like TAB's, come into their own - where business owners come together to share their first-hand experiences and help one another with the challenges and opportunities they are  each facing. This helps to foster a sense of community and mutual support, which is important in today's business environment, where connections can be essential but often difficult to achieve.

Embracing purpose-driven leadership

In his discussion, Ed stressed the crucial role that having a purpose has in guiding business leaders through their daily challenges and decision-making processes. He explained the difficulty many leaders face in articulating their true purpose, noting, "We try to get all the people we work with really focused on their purpose. It is a massive struggle... You've got to dig and dig to help them understand." Leaders can simplify complex decisions and maintain motivation through tough times by defining and understanding this core purpose.

Cultivating a high-performance culture

Ed emphasised the importance of defining "hard work" within the context of achieving high-quality results rather than high quantity. He advocates for understanding each team member's unique motivations and strengths to enhance productivity. "It's not about doing masses of average work; it's about enabling people to deliver their very best." 

He also highlighted the pivotal role of aligning employees' efforts with their personal purpose, "If you have 300 people all delivering on their purpose every day, your business will soar."

Addressing the real challenges of leadership

Ed opened up about the often-overlooked challenges of leadership, especially the complexities of managing people.  With TAB's experience of working with hundreds of business owners they know that "80% of the biggest challenges are people-related.", highlighting the difficulties with culture and team dynamics.

He also mentioned the pressure leaders face to always have the answers. "The bigger the business, the more you're expected to know everything, which can be really tough."

The power of client testimonials

Ed talked about a heartening aspect of TAB’s annual conference, highlighting the profound impact of bringing franchisees and members together. Each year, the event features a panel where members discuss their journeys and the transformative effects of working with TAB. "The best bits always are when our members talk about what we've delivered for them." 

He described these sessions as emotionally charged, with powerful testimonials often moving the entire room to tears. "It's massive high emotion. You've had the whole room in tears over it, and that really reinforces why we do what we do." 

Join us at TAB

If Ed’s insights have inspired you and you're considering joining a network that promotes shared growth and mutual support, contact us today to learn more about becoming part of The Alternative Board franchise.