AMBITION BEYOND ACQUISITION: HOW STRATA REDEFINES GROWTH IN A COMPETITIVE MARKET

IN THE LAST 18 MONTHS, STRATA HAS EXPERIENCED HUGE GROWTH. HERE, SIMON HAMBLEY, CEO OF THE AWARD-WINNING BRAND ENGAGEMENT AGENCY, DISCUSSES WHY AMBITION AND BUSINESS DEVELOPMENT SHOULD NOT JUST BE MEASURED IN CLIENT NUMBERS AND REVENUE AND OFFERS A TOOLKIT OF IDEAS FOR DRIVING BUSINESS GROWTH… 

I can’t quite believe it’s October. Like many other reputable and ambitious businesses, running into Q4, it’s only natural that you reflect on the year that’s been and look towards a new fiscal year.  

I won’t lie. It’s been full-on, and our growth has been monumental. In the last 18 months, we have acquired On Event Production and Trinity Event Solutions, growing the dedicated and complementary services we can offer our clients. But we have not stopped at acquisitions activity. 

We have also launched a bespoke rewards and recognition platform called Sherbet, a proprietary technology product developed in-house, and we’ve recruited some of the best minds in the industry, purposely hiring the skills that will help us to both broaden our offer and meet our future business goals. 

Recruiting talented professionals like Endellion King as head of incentives and Caroline Lumgair Wiseman as group head of strategic meeting solutions perfectly demonstrates the scale of our ambition, and I believe we have taken significant steps towards becoming the number one challenger agency in the UK and a true voice in Strategic Meetings Management (SMM). 

Our acquisition of Trinity Event Solutions and On Event Production has helped us to do that because it has given us access to a diverse range of skills that would have taken years to develop using traditional recruitment methods. Instead, we have taken bold steps to grow at a rate that would/is not for everyone.

Personally, I believe that our acquisition and partnership activity signifies that we have a unique and solid understanding of the current M&A market. We have firmly grasped the nuances that come with joining different yet complementary businesses together. All this has been achieved without loss of talent either through redundancies or attrition. This is a good thing as further acquisitions are planned! 

I can’t go into detail right now, but what I can say is that although the businesses we wish to acquire will work independently, we will continue to strengthen our single touchpoint approach that is being recognised and welcomed by clients with open arms.  

Clients want a hassle-free experience as they look to save money and increase efficiencies. So, it’s our job to make that happen. 

As we look to the future, to 2025 and beyond, we have even bigger plans to grow, taking Strata beyond the horizon. Not just in the obvious measurements of scope and scale, such as revenue, skills, client numbers and headcount. But we know that our experience, values and company culture will expand too. 

Businesses that embrace change, adopt a positive mindset and work collaboratively will succeed, so we’re preparing for an intense period of activity that will champion partnerships and teamwork and support personal and professional advancement.   

We want our people to move into different roles within the group, have fulfilling careers and put their stamp on all aspects of the business. We are actively encouraging the amazing brains we have within Strata to come to us with innovative ideas that will streamline our processes and increase efficiencies. Even the smallest changes could have a big impact on our growing client roster and the P&L, so we welcome open and honest conversations.

As we take our next steps, this is incredibly important. We want everyone at Strata to take ownership and feel that the business is theirs. Only by working together as a team, with drive and integrity, can we achieve so much.

Simon’s toolkit for driving business growth

• Fostering Internal Mobility: Enable employees to transition into different roles across the organisation by providing robust learning and development opportunities. This ensures they can acquire the necessary skills to thrive in new positions, build fulfilling careers, and contribute to the business’s long-term success.
  
• Encouraging Innovation: Actively seek out and nurture innovative thinking within the team. Encourage employees to propose ideas that can streamline operations and drive efficiency across the organisation.
  
• Maximising Small Wins: Recognise that even incremental improvements can have significant impact. Leverage small changes to positively affect client relationships and the company’s financial performance.
  
• Promoting Open Dialogue: Foster a culture of transparent and honest communication. Ensure that constructive feedback and diverse perspectives are valued as key elements for continuous improvement and business success.
  
• Cultivating a Culture of Ownership: Create an environment where each individual feels a deep sense of responsibility and personal investment in the company’s success, motivating them to act as though they are owners of the business.
  
• Empowering Independent Operations: When acquiring new businesses, allow them to maintain operational independence while aligning them with a broader strategy that strengthens the overall client experience.

This article first appeared in C&IT Magazine in October 2024. Read the full article here. 

SIMON HAMBLEY IS THE CEO OF STRATA.