Gareth Lloyd, serial entrepreneur - Business Matters columnist https://bmmagazine.co.uk/author/gareth-lloyd/ UK's leading SME business magazine Sun, 22 Sep 2024 17:06:42 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.4 https://bmmagazine.co.uk/wp-content/uploads/2025/09/cropped-BM_SM-32x32.jpg Gareth Lloyd, serial entrepreneur - Business Matters columnist https://bmmagazine.co.uk/author/gareth-lloyd/ 32 32 Why I Believe Inspiration is the Key to Business Success https://bmmagazine.co.uk/in-business/advice/why-i-believe-inspiration-is-the-key-to-business-success/ https://bmmagazine.co.uk/in-business/advice/why-i-believe-inspiration-is-the-key-to-business-success/#respond Thu, 20 Jun 2024 16:54:39 +0000 https://bmmagazine.co.uk/?p=149706 As the co-founder and CEO of Truly Nuts, I’ve learned that inspiration plays a critical role in turning an idea into a successful company.

As the co-founder and CEO of Truly Nuts, I’ve learned that inspiration plays a critical role in turning an idea into a successful company.

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Why I Believe Inspiration is the Key to Business Success

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As the co-founder and CEO of Truly Nuts, I’ve learned that inspiration plays a critical role in turning an idea into a successful company.

As the co-founder and CEO of Truly Nuts, I’ve learned that inspiration plays a critical role in turning an idea into a successful company.

When my business partner, Greg Vickers, and I launched Truly Nuts, we didn’t just want to create another snack brand. We wanted to build a company that not only delivered high-quality, delicious nuts but also contributed positively to the environment and the people who help produce them. Inspiration has been at the core of that journey.

From Passion to Progress

For as long as I can remember, progress has driven me. From my early days learning to play the guitar and dreaming of being in a band to running my own DJ business and working in recruitment, I’ve always been motivated to push forward and grow. That same passion for progress led me to co-found Truly Nuts.

What inspired me the most was the opportunity to create a business that goes beyond profit. At Truly Nuts, we operate in the Amazon rainforest, and I’m passionate about improving the lives of the people who harvest the nuts while ensuring we protect and support the rainforest itself. For me, it’s not just about building a company; it’s about making a difference.

Overcoming Challenges through Innovation

Of course, like any entrepreneur, I’ve faced my fair share of challenges. One of the biggest hurdles has been securing capital to grow the business. In Latin America, where most of our production takes place, financial resources are far more limited than they are in Europe or the UK. But instead of letting that stop us, we found innovative ways to raise the funds we needed, including profit-participating notes (PPNs) and equity deals with early investors.

It’s true that running a business is all about solving problems. Every obstacle we’ve faced—whether it’s financial, logistical, or operational—has only made us stronger. In fact, some of the most significant moments of growth for Truly Nuts have come from overcoming setbacks. For example, when we struggled with slow deliveries and other challenges while outsourcing production, we decided to build our own facility in the Amazon. That turned out to be a pivotal decision for our company, allowing us to reduce costs and improve efficiency.

Staying Focused on the Vision

One of the things that has kept me going during tough times is the ability to stay focused on the bigger picture. I always have long-term goals for the business and for my personal life, and I make sure to stay focused on those no matter what challenges come our way. I constantly visualize what success looks like—whether it’s getting our products into major supermarkets or expanding our production facilities. That vision keeps me motivated, even during the hardest moments.

Another thing that helps me stay on track is taking the time to look back at how far we’ve come. On day one of a startup, you have nothing but an idea. But by day 365, even if you’ve faced countless obstacles, you’ll also have made real progress. It’s important to celebrate those milestones along the way.

Sustainability as a Core Value

One of the things I’m most proud of with Truly Nuts is our commitment to sustainability. From the start, I knew I wanted to create a company that would have a positive impact on the environment. For us, that means making sure our production practices not only minimize harm to the Amazon rainforest but actually help protect and develop it. We’re also committed to supporting the communities that harvest the nuts, ensuring that they benefit from the growth of our business.

Sustainability isn’t just a business decision for me; it’s personal. I believe that as entrepreneurs, we have a responsibility to make sure our companies do good in the world.

The Takeaway: Inspiration Drives Success

At the end of the day, what I’ve learned on this journey is that inspiration is everything. Whether it’s coming up with creative solutions to challenges, staying motivated through tough times, or building a business that prioritizes sustainability, having a clear sense of purpose is key. Truly Nuts wouldn’t be where it is today without the inspiration and passion that have driven me from the very beginning. For anyone starting a business, I’d say this: stay inspired, stay focused, and don’t be afraid to turn challenges into opportunities.

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The Real Story of Business Success – When and How to Hire the Right Team https://bmmagazine.co.uk/opinion/the-real-story-of-business-success-when-and-how-to-hire-the-right-team/ https://bmmagazine.co.uk/opinion/the-real-story-of-business-success-when-and-how-to-hire-the-right-team/#respond Wed, 15 May 2024 16:43:40 +0000 https://bmmagazine.co.uk/?p=149702 As the businesses I have worked with have grown over the years, the significance of knowing when to hire and how to hire the right team can never be overstated.

As the businesses I have worked with have grown over the years, the significance of knowing when to hire and how to hire the right team can never be overstated.

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The Real Story of Business Success – When and How to Hire the Right Team

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As the businesses I have worked with have grown over the years, the significance of knowing when to hire and how to hire the right team can never be overstated.

As the businesses I have worked with have grown over the years, the significance of knowing when to hire and how to hire the right team can never be overstated.

Whether you’re launching a startup or scaling your business, your team is the bedrock upon which success is built. But the question is. When is the right time to bring onboard additional talent, and how can you ensure that you’re making the best hiring decisions at the right time.

Timing is Everything

One of the cardinal rules of team building is understanding the importance of timing. I often feel like I wear multiple hats and juggle countless responsibilities in the early stages of a new venture. But that doesn’t last forever. If you’re turning down potential clients or projects because you lack the bandwidth to take them on, or missing out on opportunities due to resource constraints – this can be a clear signal that it’s time to scale your team to capitalise on growth opportunities. In other words, the moment when the demands of your business outpace your ability to handle them single-handedly.

Identify bottlenecks or inefficiencies in your operations that are hindering productivity and scalability. These bottlenecks could be due to a lack of specialised expertise, lack of manpower, or just the need for optimisation.

Pay attention to feedback from customers, clients, or partners. If you notice recurring themes related to delayed response times, poor service quality, or unmet needs, it may indicate a gap in your team’s capabilities that needs to be addressed through strategic hiring.

Also, it’s so important to analyse data, market trends, and industry forecasts to develop realistic growth projections for your business. Consider factors such as revenue targets, market share objectives, and geographic expansion plans. By understanding where your business is headed, you can better anticipate the skills and expertise required to support future growth.

Lastly, If you find yourself getting overwhelmed with tasks and struggling to keep up with demands, it may be a sign that you need additional support. Look for patterns of sustained high workload that indicate the need for extra hands on deck.

However, on the other hand, in the rush to expand, businesses often turn to rapid hiring as a solution for growth. However this can lead to major challenges. One of the primary risks of rapid hiring is the strain it places on resources. Bringing on numerous employees without systems in place and finances can create major issues. Particularly for startups and small businesses. High payroll costs combined with insufficient revenue can lead to cash flow problems and instability. Another issue is the mismatch between skills and roles. Hiring too quickly can result in recruiting individuals who aren’t the right fit for the organisation or lack the necessary skills.

For Truly Nuts!, the decision to hire additional team members came when we found ourselves struggling to meet the growing demand for products. We realised that in order to maintain quality at all levels, we had to grow.

Someone who I have always looked up to in business, Richard Branson, Founder of Virgin Group said, “You need to take risks, and hiring is one of the biggest risks you can take. But if you want to build a great company, you have to start by hiring great people.”

Choosing the Right team Players

Once you’ve identified the need to expand your team, the next step is selecting the right players to join your ranks. This is where the art of hiring comes into play—an art that requires a discerning eye, strategic thinking, and a deep understanding of your company culture and objectives.

During my years in business, I have always placed a premium on passion, creativity, and alignment with our sustainability ethos. When evaluating potential team members we look beyond their resumes and delve into their motivations, aspirations, and values. We want individuals who not only possess the requisite skills and experience but also demonstrate a genuine enthusiasm for our mission and a willingness to contribute meaningfully to our journey. Sheryl Sandberg, COO of Facebook said, “When you’re building a team, look for people who are just as passionate about your mission as you are. Hire for passion and commitment first, experience second, and credentials third.”

Success isn’t a solitary pursuit—it’s a collaborative effort fueled by passion, perseverance, and effective team building. By strategically onboarding the right team and at the right time, you can overcome challenges, capitalise on opportunities, and transform business dreams into tangible results.

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How and why gender diversity is KEY for business success https://bmmagazine.co.uk/opinion/how-and-why-gender-diversity-is-key-for-business-success/ https://bmmagazine.co.uk/opinion/how-and-why-gender-diversity-is-key-for-business-success/#respond Wed, 03 Apr 2024 12:46:09 +0000 https://bmmagazine.co.uk/?p=143644 As a seasoned professional in the field of recruitment, I've had the privilege of witnessing firsthand the transformative impact that gender diversity can have on businesses of all sizes.

As a seasoned professional in the field of recruitment, I've had the privilege of witnessing firsthand the transformative impact that gender diversity can have on businesses of all sizes.

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How and why gender diversity is KEY for business success

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As a seasoned professional in the field of recruitment, I've had the privilege of witnessing firsthand the transformative impact that gender diversity can have on businesses of all sizes.

As a seasoned professional in the field of recruitment, I’ve had the privilege of witnessing firsthand the transformative impact that gender diversity can have on businesses of all sizes.

From startups to established SMEs, organisations that champion gender diversity consistently emerge as leaders in their respective industries.

In the competitive landscape of recruitment, there has been a significant shift in candidate expectations and preferences. Increasingly, job seekers are drawn to companies that embrace diversity and inclusion, recognising the real value of diverse perspectives and experiences.

Working closely with hiring managers and decision-makers its clear there are tangible benefits of gender diversity within organisations. Diverse teams bring a breadth of perspectives, skills, and ideas to the table, fostering a culture of innovation and creativity that drives business growth.

Whether it’s brainstorming sessions, problem-solving exercises, or strategic planning meetings, I’ve seen firsthand how diverse teams consistently outperform homogenous ones, generating fresh insights and driving results. Inclusive workplaces where individuals feel valued, respected, and empowered regardless of gender are more likely to retain top talent and create a real ‘family’ orientated atmosphere –  a real deep rooted culture.

It goes both ways – women and men need to feel they are supported equally in the workplace and encouraged, and provided with opportunities for development, and this also has a direct impact on the bottom line.

Research has consistently shown that companies with diverse leadership teams and workforces are more innovative, resilient to downturns, and financially successful. By tapping into the full potential of their talent pool, SMEs can gain a competitive edge, attract new customers, and drive business growth.

However, achieving gender diversity requires more than just lip service—it demands a strategic and concerted effort to address those  barriers and biases that may hinder the advancement of women in the workplace.

As a recruitment expert, I’ve worked closely with companies to implement gender-neutral recruitment processes, develop inclusive leadership programs, and foster a culture of flexibility and work-life balance.

Establish a mentoring program that pairs staff of different genders to facilitate knowledge sharing, skill development, and career advancement. Encourage mentors and mentees to exchange perspectives, insights, and experiences to foster mutual learning and growth.

In addition, when forming project teams, strive for gender balance to leverage diverse perspectives and strengths. Or implement reverse mentoring programs where junior employees mentor senior executives on topics such as gender diversity, generational differences, and emerging trends.

To conclude, as SMEs navigate the complexities of recruitment and talent management, it’s essential to recognise the transformative power of gender diversity. By embracing diversity and championing inclusion, SMEs can unlock the full potential of their workforce, drive innovation, and position themselves for long-term success.

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7 ways to be a great leader https://bmmagazine.co.uk/in-business/advice/7-ways-to-be-a-great-leader/ https://bmmagazine.co.uk/in-business/advice/7-ways-to-be-a-great-leader/#respond Fri, 01 Mar 2024 11:47:19 +0000 https://bmmagazine.co.uk/?p=142398 New research has revealed the investment and growth plans of SMEs in the UK. Despite the ongoing cost-of-living crisis, SMEs plan to spend an average of £321,000 on growth strategies over the next year. One in eight SMEs plan to spend over £1 million investing in growth.

I've always been drawn to and had a fascination for exceptional leaders, particularly in the realm of business. I find myself thinking, "What distinguishes these personalities?" "Which qualities and strategies drive them to the top of their respective sectors and industries?"

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7 ways to be a great leader

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New research has revealed the investment and growth plans of SMEs in the UK. Despite the ongoing cost-of-living crisis, SMEs plan to spend an average of £321,000 on growth strategies over the next year. One in eight SMEs plan to spend over £1 million investing in growth.

I’ve always been drawn to and had a fascination for exceptional leaders, particularly in the realm of business. I find myself thinking, “What distinguishes these personalities?” “Which qualities and strategies drive them to the top of their respective sectors and industries?”

I have been lucky enough to meet some of the top business leaders on my travels and learned that there are certain traits that appear common among them and everyone can learn them.

Be passionate!

No successful leader ever reaches greatness without passion. There are so many challenges with starting and scaling a business, that if you aren’t super passionate about that business, you will give up – its that simple! Every great leader I have met or worked with has huge passion for what they do. They understand that business, by definition, comes with challenges, and growing a great business is a process of problem solving and over coming those challenges. Often over-coming those challenges can be the making of those businesses.  To overcome those challenges, you need great people, so great leaders don’t just have passion for their business or idea, it extends to the people in their teams. They appreciate the hard work and time their team invests, and this passion reflects in their commitment to the well-being of their people. They understand that the success journey is a joint effort, and they go the extra mile to ensure their team remains passionate about their work and the business.

Promote open communication and cohesion in your team

Effective leadership really hinges on creating a culture where you have transparent communication with your team and drive and maintain a cohesive environment. Great leaders generally are honest and transparent, and lead from the front which sets the tone for the entire team. Many naturally use situational leadership which recognises that everyone is different with diverse communication styles so adapt their approach to each individual. People want to be heard, and great leaders recognise this, really listening to ideas, opinions, and issues which is both empowering and important for team members. By doing this and facilitating open communication between team members, a cohesive environment is formed which can help create a high performing culture.

Great leaders always have a plan

You can’t get far without a plan. As the old adage goes, ‘fail to plan, plan to fail’. Great leaders have a roadmap for everything, their life, their business, everything they are involved in. Most business leaders get this, but the really great ones have this front and centre of everything they do, and are unwavering in their pursuit it. Yes of course the plan will change, and adapt, but ultimately the destination usually remains the same. A solid plan, accompanied by a clear vision, and achievable goals as milestones along the journey helps great leaders deliver their desired outcome. This is the essence of turning a plan into action, and delivering repeatable success.

Inspire Personal and Professional Growth:

Great leaders champion their team’s growth as an integral part of an effective growth strategy. Investing in both their professional and personal development of your team members is crucial. Allocate resources, even if modest, to support their continuous learning. Empower your employees by providing challenging opportunities and guidance, allowing them to overcome obstacles and achieve personal and professional growth. A great leader creates a safe environment where team members can make mistakes and learn from them, giving opportunity for personal and professional growth and ‘failing their way to success’.

Progression and succession front and centre

Great leaders understand that the key to scaling a successful business is to consistently progress their team, and constantly work themselves out of a job through succession. This means always hiring people better than themselves, while giving current team members the opportunity to progress their own careers, through training and development to move up, or move sideways into other roles. The best leaders surround themselves with great people and then develop those great people into great leaders themselves.

Be agile – act like a start up!

Embracing agility is a crucial aspect of effective leadership and the ability to pivot, be flexible and change when some things are not working. It’s easy to fall into the corporate box and lose that early drive – but great leaders are continuously changing and adapting and innovating, setting new goals and challenges pushing their teams to think differently which helps individuals thrive.

Metrics matter in driving consistent replicable success

Great business leaders understand the metrics that drive success, and manage their businesses tightly against those metrics. They build systems and processes that put metrics at the heart of their businesses, and make sure all team members are aligned and understand those metrics. These collective metrics in a business provide the road map to execute the strategy and allow leaders to adjust different parameters to keep the business on track. Great leaders have been using big data way before the term ‘big data’ was coined. Metrics and data matter – it’s the life blood of any business.

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7 ways to be a great leader

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Scaling a business – 7 tips for success https://bmmagazine.co.uk/in-business/advice/scaling-a-business-7-tips-for-success/ https://bmmagazine.co.uk/in-business/advice/scaling-a-business-7-tips-for-success/#respond Wed, 24 Jan 2024 10:53:03 +0000 https://bmmagazine.co.uk/?p=141005 Welcome to: "So You Want to Be a CEO," where each month, Gareth Lloyd will delve into the world of business leadership and scaling enterprises

Welcome to our exciting new series, "So You Want to Be a CEO," where each month, I will delve into the world of business leadership and scaling enterprises.

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Scaling a business – 7 tips for success

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Welcome to: "So You Want to Be a CEO," where each month, Gareth Lloyd will delve into the world of business leadership and scaling enterprises

Welcome to our exciting new series, “So You Want to Be a CEO,” where each month, I will delve into the world of business leadership and scaling enterprises. Join me on this insightful journey as I share my experience in business success.

Handpick Your Team Wisely

The most important asset to any business is its people. Having started in the recruitment industry, this has given huge insight into scaling businesses around hiring and progressing exceptional people. By connecting talented individuals with the right opportunities, I’ve witnessed first hand how a strategic recruitment approach can shape the foundation of a successful enterprise. That’s why it’s so important to take the time to find the right team.

As CEO of Truly Nuts, there are a few key qualities I look for when hiring employees, they may sound obvious but the key in finding the right talent is being able to get tangible evidence from their track record during the interview process.

The first quality I look for is the right attitude. You want employees who are positive and upbeat. A positive attitude is contagious and contributes to a healthy work environment, and those people who lead with their heart are often better adapted to dealing with the obstacles that come in any job.

The second is a good work ethic. You want your teams to be focused, have high energy, and work hard. As Samual Goldwyn’s old adage goes “the harder I work the luckier I get” and one of the core traits to almost all our most successful people is a great work ethic.

The third thing to really spend time assessing is the value alignment between your potential employees and your business or brand. Headhunt individuals who understand and embrace your company’s core values and beliefs. You can assess this against all aspects of their life, from their work experience, to life experiences, even their family life and hobbies and interest. When your team is aligned with your mission, overcoming challenges and achieving collective success becomes a natural outcome.

Lead by example

Leadership sets the tone for the entire organisation. In the same way as a school is only as good as its head teacher – business is the same. Demonstrate the values and behaviours you want to see in your team. Be transparent, communicate openly and foster a culture of open communication where employees feel comfortable expressing their thoughts, ideas, and concerns. Show your team how to adopt a healthy balance between work and personal life. By prioritising these elements you can build and sustain a healthy work culture that not only attracts top talent but also promotes employee satisfaction, engagement, lower staff turnover and fosters long-term success.

Aligning Actions with Values

A dynamic culture is reflected in a company’s daily actions that align with its values. At Truly Nuts, we don’t just consider ourselves a business; we are committed to social responsibility. Our values translate into concrete actions, such as giving back to communities, ensuring fair wages, and empowering women in the workforce.

Ensure that your company’s values are not merely words on paper but principles guiding every decision and action. When values and purpose are deeply embedded in the company culture, they become a powerful force propelling the business towards rapid and sustainable growth.

Embracing Diversity and Inclusion

A dynamic culture thrives on diversity and inclusion. Embrace differences, celebrate individual strengths, and create an environment where every voice is valued. Currently we have teams in San Diego, Singapore, Manchester and Lima working together on a daily basis, and we have always placed a high value on the unique perspectives each team member brings, fostering a culture that encourages innovation and creativity.

Investing in Team Growth

Invest in the growth and development of your team members. A dynamic culture places a premium on continuous learning. Provide opportunities for skill enhancement, mentorship programs, and avenues for career advancement. When your team feels supported and invested in, they, in turn, contribute their best efforts to the success of the business.

Think like a start-up!

Startups thrive on adaptability, and this trait becomes increasingly important during scaling. The business landscape is dynamic, and the ability to pivot quickly in response to market shifts or emerging opportunities is so important. Instead of always sticking to proven products and marketing strategies that have worked in the past, be experimental, keep trying new things (within budget!), be innovative. If you put the customer first, demand feedback from that customer, and act quickly on that feedback to give ‘best service’ you can shake up any market.

Also, scaling a business often leads to an increase in bureaucracy and additional layers of management to handle growing responsibilities. Keep your team lean and this will allow for streamlined communication and faster decision-making.

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Scaling a business – 7 tips for success

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