Author: Martin Port

The world in 2021 looks very different to the landscape in 2019, doesn’t it? Things that used to denote success and financial freedom – fast cars, luxury clothing, holidays homes all over the world – now leave a sour taste in the mouth.

It has become impossible to ignore the many challenges facing the world right now, from the terrifying impact of climate change to the widening gap between rich and poor. 

I believe that this means modern leaders have a new and improved mandate: if you are successful, use it to help others and protect the planet.  

I have always been passionate about philanthropy. Charitable giving has been a cornerstone in all of my businesses, and I have always tried to drive positive change, whether that’s through convincing my colleagues to quit smoking, incentivising drivers to cut their speed, or supporting charities and social enterprises, both at home and abroad.  

Regular readers of this blog will remember that I wrote about the need to support charities last year:  https://www.linkedin.com/pulse/great-charities-need-our-help-bad-ones-dont-martin-port/ . The good news is that the Covid crisis has been a turning point for philanthropy. According to McKinsey, the global consultancy, some of the world’s wealthiest people doubled or quadrupled their pay-out rates last year, while others distributed 20% of their total assets, and others have committed as much as $1bn to COVID-19 relief https://www.mckinsey.com/industries/public-and-social-sector/our-insights/a-transformative-moment-for-philanthropy. But there is so much more that must be done.  

The NPC, the think tank for the social sector, counted over 7,440 charity redundancies in 2020  https://www.thinknpc.org/resource-hub/coronavirus-guide/  . As talent left the third sector, the people remaining were forced to concentrate on urgent crises, which meant that many vulnerable people could not access support. These charities need our time and money more than ever.   

I feel that it is my moral obligation, as a leader and entrepreneur, to do my bit. This year, I am proud to say that BigChange has supported several charities through donations and also my strategic support. Here are just a few of the causes we have backed this year: Business In The Community, the Yorkshire Children’s Centre, Recycling Lives, Transaid, Living Potential Care Farm, RNID and Speed Of Sight.  

When you’re busy building a business, it’s easy to put off charitable giving – you tell yourself you’ll sort it all out another day. But there’s no time to waste. I remember meeting Arnold Ziff OBE, the great philanthropist MHDSRIP, many years ago. He would see a problem and set about solving it straight away: it made him an unstoppable force in social and environmental change. He never stopped helping people, in any way he could, be it an introduction or a donation. https://www.linkedin.com/pulse/how-you-remembered-martin-port/ . He became a legend here in Yorkshire.  

Arnold was the person who first convinced me of an important truth: What is the point of being successful if you don’t use that success to make a positive impact in the world?  

How could you help save the world today?

One thing that keeps every founder awake at night is: how are we going to maintain my company’s culture and momentum as the organisation grows? If you Google “How to maintain start-up culture”, you’ll see more than 16m results. Everyone is trying to solve this challenge but, suffice to say, there are no easy solutions. 

I remember, in early days of BigChange, how many late nights I spent in the office. Those were heady days: ordering pizza with my team as we burnt the midnight oil and sketched out audacious plans for the future. Now, eight years on, we’re a much bigger entity with almost 250 colleagues. We have managed to maintain our dynamism and commitment to growth, but I know the dangers of complacency. 

I recently posted that I was reading Michael Dell’s new book, Play Nice But Win. I just finished it and am so inspired by his drive and absolute determination to make Dell a global success. His work ethic has never wavered – and he started that business when he was just 21. Even during tough times, he just redoubled his efforts and managed to overcome every barrier. 

Over the years, I have seen many businesses flounder when they scaled from a small-to-medium-size to a larger entity. This means that I now know the mistakes to avoid. As you grow, you need to make sure you don’t lose your grip on the hiring process. It may be tempting to fill roles fast as gaps appear but every single individual that joins the team must be a) a team player, b) driven and enthusiastic and c) capable of giving 150% when the business needs it. 

When you start a business, the combined output of the team is astonishing. It is possible to keep finding those incredible and talented people as the business grows – but you have to take your time and really get to know individuals and, most importantly, promote from within. 

The leader must motivate, motivate and motivate some more. As soon as the people at the top lose their focus, the team will too. It’s so important to keep communicating the goals and being transparent about performance. People need to know where the business is going and how they, individually, will contribute to success. I love working with a galvanised team and that feeling of all being on the bus together. 

I’m writing this from America, where we are focused on building a business to rival BigChange in Europe. I feel like a start-up founder again, and it’s been so exciting to see our US operations blossom and flourish. Having ambitious plans for this part of the world has lit a fire in the whole team, and I want to keep stoking those flames. BigChange may be growing fast but I want this company to keep its entrepreneurial vigour, whether we are 200 people or 2,000.

“Turnover is vanity. Profit is sanity.” Most entrepreneurs will have heard these words at some point in their careers. It’s a cliché but, here’s the thing about clichés, they are usually right.

When you run a mobile workforce, as we do, and all our customers too, there are so many variables in play, which affect your profitability. From the cost of hiring new talent to the availability of parts, fuel prices to job scheduling efficiencies, it’s a delicate balancing act.

This is why BigChange has just conducted a major piece of research into the field service industry. We are obsessed with helping our customers to grow, and grow more efficiently and profitably than before, so it made sense to go out and ask people across the sector (not our customers; the pollsters Opinium found more than 500 business leaders outside of our network) about the things that are hampering their growth, reducing margins, or causing them sleepless nights.

The results are absolutely fascinating.

The report, “State of the Field Service Sector” found that these businesses are in the grip of a post-pandemic boom. Workloads are up 70% on last year, according to the leaders we polled. And prices are rising too, because of this demand, increasing 47% on average since July 2020. Yet, here’s the kicker. Fewer than half of the companies in this industry turn a profit. How can this be?

Many accrued significant debts during the repeated lockdowns of 2020. Some may have been hit by higher costs that they were unable or unwilling to pass on to customers. Others have been forced to increase wages to hold on to staff as the post-Brexit talent shortage continues to bite.

All of this means one thing: that while a significant proportion of field service businesses are growing, they are not growing sustainably. In fact, according to our research, one in eight is likely to go bankrupt within a year.

What can be done to support this vital sector, and prevent losses from spiralling out of control?

Call me biased, but I know that technology is the answer. Automation is absolutely key to modern enterprise. It not only helps to reduce the time is takes to complete jobs, it also helps engineers deliver a better service, and provides actionable insight into what is driving the value of your business.

Our report has found that customer experience is now the ultimate source of competitive advantage. Most leaders said good service now requires same-working-day fixes for reactive jobs (68%) and that customers be kept fully informed digitally (65%) – both must-haves can be achieved through smarter tech.

It is my heartfelt belief that an investment in the technologies that increases profitability is a no-brainer. There is no better way to spend your money. At a time when many business owners have cut spending – and some may even be sitting on significant cash piles – the opportunity to drive efficiency and optimisation like never before is now in reach. Cash in the bank earns zero interest. Investments in stocks and shares are highly volatile. Business leaders should back themselves and back their businesses through futureproofing technologies that really deliver.

I’m not trying to give you a sales pitch. Well, maybe I am. But it’s because I truly believe in the revolutionary power of technology to help Britain’s field service companies to thrive. So, tell me, would you like to be more profitable?