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Entrepreneurs Panel

Laura Tenison
Debbie Pierce
Richard O'Sullivan
Michael Oliver
Julie Meyer
Charlie Mullins
Brian Hay
Jeremy Roberts
Tony Caldeira
Jennie Johnson
Steve Purdham
David Pollock

Show me the money

David Pollock

Set up Chess in 1993 to take advantage of the deregulation of the utilities market by re selling water, gas and electricity. In 1996 the business began to specialise in telecoms – reselling telecoms services to businesses throughout the UK - and since his first acquisition in 2004 has completed at least 24 more (many of which involved purchases of client bases and assets rather than entire businesses). Highly-focused on his staff, Pollock places the Chess “culture” at the heart of his ambitious expansion plans.

Question: 

My sales manager has just announced she is leaving for a better-paid job. Should I match their offer to try to get her to stay?

Answer: 

Is she really the backbone of the department, or are you afraid of the unknown or happy with the status quo? New blood is great for a business, it shakes everything up, brings new ideas and new energy. It’s not always wise to hang on to the past: better to embrace the future.

On the other hand, if she really is that good, give her a new deal, pay her more money but make sure you stretch her targets so she earns every penny. You’re the boss, so make the call. Good luck.

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