Hotel Monverde, Lixa, Portugal
When you have nurtured a design consultancy, it can be difficult to let go. Planning your succession can take several years, says Adam Fennelow, services director at the Design Business Association (DBA). “The DBA recommends people have a road map to exit the business,” he says. But what route should you take? Founders can be succeeded in a variety of ways. Here's a run-down of your options.
This involves making your employees stakeholders in the company. A business owner can hand their consultancy over to their employees in three ways: by making them individual shareholders, holding shares collectively for them through a trust, or a combination of both.
Paul Priestman, co-founder at PriestmanGoode, opted for a trust when he turned his consultancy into an employee-owned business this year. “Establishing a share trust felt like a fairer option for all employees”, says Priestman. “Only people who have the money can buy individual shares then it becomes a race to power. With a trust, the shares are distributed equally if the employees decide to sell the company. They can also collectively decide how to spend profit, rather than it going to the founding directors.”
The process took six years. “I began by taking designers, who were five years ahead of me, out for lunch to understand the process of restructuring,” he explains. When it started transitioning, PriestmanGoode began “empowering” its employees by creating new internal departments that were in charge of hiring their own staff, choosing their own software and equipment, and representing the company at events.
According to the Employee Ownership Association, the employee-owned business model can improve the company's recruitment potential because of its employee benefits. “In attracting talent, being employee-owned is a really big draw,” says Priestman. “There's a good feeling about the set-up, and it prevents hostile takeovers.”
Priestman went to specialists for advice during the process, such as creative industries' management consultant Clear Partnership and commercial law firm Fieldfisher. He recommends consultancy founders do their research, learn about the finances of their business and be prepared to delegate. “Talk to the Employee Ownership Association, and people who have done it. Be willing to let go and give your designers responsibility don't let your ego interfere.”
This involves selling the consultancy to select managers within the business, who have been trained through the ranks to eventually take over. The managers can pay the business owners out through different ways, such as an agreed mortgage or a bank loan.
Product design consultancy Kinneir Duffort took on a management buyout structure in 2002. Starting in 1997, the process took the consultancy's founders Ross Kinneir and Francis Dufort five years, and aimed to “grow a team-based entity, rather than a founders' company”, says design director Craig Wightman.
The consultancy has continued to involve more key members of its senior team in the management of the business, says Wightman. “Design consultancies are people businesses. To help the business develop and thrive, it's important to provide opportunities for people in the team to do so too, and to feel like their efforts and ideas can directly influence its direction.” Being an independent company encourages an “open, collaborative and team-focused” ethos, he adds, which would be more difficult to achieve if Kinneir Dufort was part of a network.
To complete a management buyout, Wightman says your business needs to be in good shape. “You need to have a clear vision, a strong and capable management team, a healthy business position and the drive and ambition to grow,” he explains. Wightman also suggests speaking with professionals, such as lawyers and finance advisors. “Designers may be experts at running a design business but the world of corporate transactions is not something we do very often, if at all,” he says. “You need to get good advice.”
This involves selling your consultancy to an umbrella company such as WPP or Publicis and becoming part of a group.
Coley Porter Bell was bought out by WPP in 1991, later becoming part of a sub-group called Ogilvy & Mather Group UK. Coley Porter Bell saw joining WPP as an opportunity to gain new skills through cross-disciplinary working and to find new talent, says Vicky Bullen, the consultancy's chief executive officer. The consultancy has been able to collaborate on a more diverse range of projects with other teams, says Bullen, as “clients' requests for integrated teams have grown”. Recently, all Ogilvy & Mather Group UK companies were brought together under one roof, which has also encouraged this, she says.
Other advantages include a bigger contacts list and therefore more referrals to clients for projects, career progression through training, and more stability, explains Bullen. “We have amazing training and development opportunities through both WPP and Ogilvy, and when you have the support of a group behind you, you don't suffer from the same cash flow problems as an independent. Plus, we have just gained a fantastic new home with amazing facilities such as recording suites and in-house digital studios.”
But in order to make the most of being part of a network, you need to get to know people, she says, and be prepared to work across a large team. “Just because you are part of a big group, it doesn't mean people will reach out to you,” Bullen explains. “Make sure you network, and go out of your way to help people across the company then they will help you too. Also, be prepared to compromise when you're part of a cross-disciplinary team, you can't always lead.”
Consultancies can also be bought by another design business. Equator acquired 999 Design in February this year, which founding director Richard Bissland says was a move to combine skill sets with another studio. “999 had been run by the same team for 34 years and it was time to look to the future,” says Bissland. “Equator needed specialist branding skills, and we needed a more sophisticated approach to digital bolting them together made sense.” The transitional process is still underway, with the two consultancies having already started collaborating on projects, but yet to move into the same office location in Glasgow. A big part of the process was reassuring employees and getting them on board with the advantages of collaboration, says Bissland.
Although the acquisition is still in process, Bissland believes the positives will outweigh the hassle of restructuring. “Sorting out space for various teams to operate in and pushing desks around might be a pain, but the pros will far outweigh the cons,” he says. “Having strength in digital and branding, merging client lists and having a more rounded offering are the key advantages.” Bissland advises that you pick a business you know you will gel with. “Make sure the partner or parent consultancy is a good fit for your culture and that you know and like the people you will be working with the chemistry is important,” he says.
Closing down does not have to be a result of financial difficulties if you co-own a consultancy and decide it is time to go your separate ways and move into different projects, shutting up shop could be an option, says Adam Fennelow at the DBA.
Brand consultancy FiveFootSix closed down last year for this reason, saying it was “time for a change in direction”. “This was a conscious decision with money still available in the business, which the partners were able to share between them,” says Fennelow.
Company founders Algy Batten and Mark McConnachie say the decision allowed them to “end things on a high” and “turn [their] attention to new challenges ahead.”
Jonathan Sands, chairman at Elmwood, led a management buyout of the consultancy 27 years ago. He hopes to keep the consultancy independent and pass responsibility to others in the management team, to “retain the culture of the business” and “provide a good future” for employees. Sarah Turner, managing director at Carter Wong, says the consultancy also hopes to stay independent to “keep creativity at its core”. “The freedom of being an independent agency is something we value highly,” she says.
The decision to restructure is a big one. Selling to a network might provide stability and opportunity to work with people of other disciplines, but lacks the autonomy an independent or employee-owned practice can bring. Ultimately, you need to work out what is most important for your own business.
1. Plan early
A successful exit can take years. The earlier you start thinking about what you want to achieve long-term, the easier and more successful it will be.
2. Consider what is important to you
A clean break, money, security for your staff, staying involved at some level, creating a legacy all are relevant issues to influence your decisions.
3. Take advice
Good advisors cost money, but are worth it. A financial advisor needs to be more of a coach than an accountant.
4. Have a plan
Make sure your plan has milestones that can be assessed and amended if necessary. Are you on track? Have you recruited the right team to move the business on? Have you developed your ability to measure business metrics?
5. Your sums need to add up
Your finances must be in order. Not just in a profit and loss sense you need to illustrate costs per head, profitability by client, new business projections etc. This is essential to minimise perceived risk for those taking over.
The post How to make sure your business survives without you appeared first on Design Week.
DN&CO has designed the brand identity for White City Place, the new creative business district in west London which was formerly the site of BBC Media Village.
The branding for the new business hub, which is being developed by Stanhope and will include restaurants, gardens, homes, retail and office space, centres on the concept of “Networked for Creative Thought”.
“The brief was all about placemaking,” says creative director at DN&CO, Patrick Eley, “creating a distinct place that helps creative businesses flourish, and ultimately a brand that is associated with creativity and innovation instead of office space.”
The visual identity includes a clean, bright colour scheme based on a prism of refracted light, which plays on the name of the White City area.
“The brand aims to explore collaboration and what happens when people and companies mix,” says Eley.
“White light passing through a prism is refracted and creates the colour spectrum, giving us all colours as a palette to work with. By blending those colours we can emphasise the mix of people and ideas.”
The visual identity also incorporates a grid-like shape that emphasises the area's role as a hub for transport, social activity and creativity, with the series of overlapping squares giving the impression of movement, according to Eley.
“We wanted the identity to be dynamic and active to set the visual tone for a creative place where nothing stands still, everyone bounces off each other,” he says.
“Taking two squares and overlapping them gives you three, and then we played with movement and multiplicity of those patterns.”
DN&CO was commissioned to work on the project in June 2015, and will oversee the rollout of the brand across digital, print, social and signage in the coming months.
White City Place is part of an ongoing £8 billion, 15-year regeneration of the wider White City area.
The post DN&CO creates place branding for White City Place appeared first on Design Week.
Witness the sensual wonders of the middle ages in Cambridge while the Baltic explores playground utopianism. All that and more in your weekly art dispatch
Alice Neel
Touching, intimate portraits of Americans by this powerful modern realist promise to be a highlight of this year's Edinburgh art festival.
• Talbot Rice Gallery, Edinburgh, 29 Julyto 8 October.
Kieran Williams Photography posted a photo:
fiddleoak posted a photo:
this picture sort of goes with the last two, but this one is by far my favorite of the bunch. not sure if this is my favorite picture I have ever taken, but it certainly is my favorite I have taken for a long time.
instagram//blog//facebook
After years of lagging behind other ethnic groups when it comes to accessing the Internet, the "digital divide" between Latinos and whites is now at its narrowest point since 2009.
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Justin Bieber and Diplo would like to splash back into your hearts with their latest collaboration, a pledge of eternal devotion titled "Cold Water."
The Major Lazer track was co-written with Ed Sheeran and Benny Blaco. "Cold Water" also features vocals from Danish singer MØ, who said in a statement that when Major Lazer approached her with the song, she "would jump into a volcano to be a part of that record."
Bieber also seems pretty pumped about the song.
Soon we might be sharing our sidewalks with these self-driving delivery robots, zipping around the streets to bring us takeout and packages.
Ahti Heinla, chief executive of Starship Technologies, takes us for a test delivery to a Silicon Valley resident in the video above. We see how the robot detects and navigates obstacles as it rolls on down the street.
The robot achieves 90 percent autonomy — only occasionally calling for help when it encounters something confusing. Not a bad shout.
Emergency physicians learn to be prepared for anything thrown at us in the clinical arena. Personal life is a different story. Last year a drunk driver with multiple prior offenses and no valid driver's license smashed a truck through the wall of my son's daycare.
Fortunately, the children and staff were in undamaged areas. But just minutes before, my son and I had walked through the exact spot in the art room where the truck came to rest in a pile of debris.
Having worked in the ER for years, I've seen the aftermath of drunk driving often enough before, but that was the first time I had seen an accident caused by a drunk driver up close.
Drunk driving is a major public health problem in the U.S. In 2014 nearly one-third of the nation's 32,675 traffic fatalities were alcohol-related. This means a completely preventable death happened every 53 minutes in this country.
My brush with a drunk driver made me wonder about what practices and policies can help prevent accidents and fatalities. Research suggests lower blood alcohol concentration limits and interventions like ignition interlocks can make a big difference.
When drunk drivers come to the ER they often express surprise, disbelief or denial about their blood alcohol concentration (BAC) or their level of impairment. They often are drunker than they think they are.
Higher blood alcohol levels, no matter how "sober" you feel, can have a real impact on your ability to perform tasks that require concentration, such as driving. While people who drink more often may feel the effects of alcohol less acutely than someone who does not, their reflexes and judgment can still be impaired. And the more you drink, the harder it is to judge how intoxicated you are.
At least one study involving college students has shown that higher BACs are associated with an underestimation of an individual's level of intoxication.
Studies have also shown that increasing BAC is also associated with a decreased reaction time.
For instance, one study pointed to an average decreased reaction time of 120 milliseconds, just over a tenth of a second, associated with a blood alcohol content (BAC) level of 0.08, the legal limit. Traveling at 70 miles per hour, a drunk driver would travel for an additional 12 feet before reacting to a roadway hazard.
In 2000 Congress passed legislation making 0.08 the national standard for impaired driving in the United States. Under the law, states that did not adopt 0.08 as the standard by 2004 faced cuts in federal highway funding. By the time the law was passed many states had already adopted the 0.08 standards, but some states used 0.10 as the standard.
The lowering of the limit was in response to a 1992 National Highway Traffic Safety Administration report to Congress recommending this action as a way to reduce highway deaths. Implementation of these lower BAC laws has been associated with a decrease in alcohol-related highway fatalities. But 0.08 is still a fairly high BAC level compared to other developed countries.
Among the largest industrialized countries, only the U.S., United Kingdom and Canada permit BACs as high as 0.08. France, Germany, Italy and Australia currently set their BAC limit at 0.05. Japan has the lowest requirement of this group at 0.03. European countries in particular have sought lower BAC requirements in the past decades as part of an effort to decrease traffic deaths
When the European Commission, the executive body of the European Union, made its recommendations to change EU laws to recommend a BAC of 0.05 as the per se limit for impaired driving, they included supporting data, including fatality reductions, from countries with existing 0.05 BAC laws.
It might not take as many drinks as you think to slow your reaction time and make safe driving harder.
For the purposes of standardization, a drink is defined as 12 ounces of 5 percent alcohol beer, five ounces of 12 percent alcohol wine or one and a half ounces of 80 proof (40 percent alcohol) liquor. To account for an individual drinking over a longer period of time, subtract about 0.01 percent for each 40 minutes of drinking time.
According to the Centers for Disease Control and Prevention, in a 160-pound man, two alcoholic beverages can bring about some loss of judgment, decreased ability to rapidly track a moving target and result in decreased ability to multitask. Women generally weighing less than men, would see a higher BAC per drink.
Three alcoholic drinks will bring a person's blood alcohol level to a level of approximately 0.05 percent, which can impair the ability to rapidly focus vision, lower alertness, and decrease coordination to the point that steering becomes difficult and response to driving emergencies becomes blunted.
After approximately four alcoholic drinks, balance, vision and reaction time are often affected. It becomes harder to detect roadway dangers. Reasoning and information processing are often measurably impaired. This corresponds most closely to a BAC of 0.08 percent, the limit set by most states for legal operation of a vehicle.
A blood alcohol of 0.10 percent is generally associated with a clear loss of reaction time and control. There will be reduced ability to maintain proper lane position or brake appropriately.
Not surprisingly, as the BAC level climbs higher than 0.10 percent, it is associated with the progressively deteriorating ability to drive a vehicle safely.
Studies going back to the 1960s have demonstrated the correlation between BAC and accident risk. The relative risk of being in a crash is 1.38 times higher at a BAC of 0.05 than 0.00. At 0.08, the risk is 2.69 times higher. At 0.10, the crash risk climbs to five times higher.
When you consider the medical evidence, including the physiological effects, and the relative risk of crash, you can understand why some countries set the legal limit at 0.05 and why in 2013 the NTSB recommended that 0.05 become the new limit in the U.S.
Drunk driving is a tough problem to solve. One solution is to focus interventions on those who have a prior alcohol impaired driving arrest because they are at higher risk of doing it again. The reasons for this are not clear, but many drunk driving episodes are linked to binge drinking and not simply social drinking.
Ignition interlocks, which are essentially breathalyzers connected to the vehicle's ignition system, could also make a difference. These devices ensure that the vehicle can only be started by a sober driver. They've have been around for many years and modern versions have features to resist tampering, and require intermittent rechecks to ensure the driver doesn't drink after starting the vehicle.
All states use ignition interlocks to some degree, but as of January 2016, only 23 states require interlocks for all DUI offenders, which are sometimes called universal ignition interlock laws. The NTSB recommended the use of ignition interlocks for all first time offenders in 2012.
A 2015 study in the American Journal of Public Health, found that states with these laws have fewer alcohol involved crash deaths. Researchers compared data for 18 states which implemented universal ignition interlock laws to 32 states that had not. In those 18 states, universal interlock laws saved 918 lives, a 15 percent reduction in deaths related to drunk driving.
It is every driver's responsibility to understand that there is no "safe" BAC level. It's simple: The more you drink, the less you are able to drive safely, and the higher the likelihood of an accident. For those who ignore the evidence and the law, at least there is a technical solution that could help stop further loss of life to this preventable problem.
Brad J. Uren, Assistant Professor of Emergency Medicine, University of Michigan
This article was originally published on The Conversation. Read the original article.
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