Capital Development Agency

Every client is different 

Advantages of being small

 “Big,” says Clare Nolan, “is not always best.  For many companies, their small size can be an advantage because they can be quick and responsive.  In bigger companies, making decisions and implementing them can be a slow process.  It can take a lot of time to turn the beast.” 

Clare knows about small business.  She is one of directors of the Capital Development Agency which provides a range of business services to a diverse clientele including two hundred small and start up businesses.  “We practise what we preach.  We are a small company ourselves with two directors, two employees and a couple of contractors.  We don’t directly compete with the big consultancies.  We like being small,” she says.

Passion and persistence

“In our experience, the key characteristics needed to run a business are passion and the ability to execute.  Passion comes through in how you work.  Once people start working with you, it becomes clear to them whether you can actually deliver.  Because there are very few new ideas out there, most companies are competing with others for business.  You have to compete, but it does not always have to be on price.

“Each year, the Capital Development Agency might deal with – for example – twenty companies doing web design.  They will have different approaches and different strengths.  One of the ways for them to stand out is by delivering – by getting out there and actually doing the work.  If you create a buzz about your work, it develops interest.  People come to you and, most importantly, people come back.  Repeat business is priceless for small companies,” Clare says.

A unique request

“Most of our contracts come through word of mouth.  As an example, a client wanted us to develop and run a business plan competition.  These competitions are very worthy but often dull.  We had a look at what worked best here and overseas.  Our research revealed an awesome business plan challenge based on the famous Indy 500 race.  The competition took place at the speedway and the amount of time the contestants had to present their plans was determined by the lap time of a race car on the day.  How cool!

“We couldn’t see the race car idea working in Wellington’s one-way system but it inspired us to find something unique.  The answer was virtually right next door to our office – the iconic Wellington Cable Car.  Contestants presented their ideas on the trip up and then answered questions from the judges on the way down.  Because it was so fun and different, it was a hit and the client immediately signed us up to run it this year.  The contestants were incredibly focused, the media loved the competition and the judges – all busy people – want to be involved again.  If a company can build up interest and get people talking, the work will follow.  That is how our small business in Wellington got invited to work on projects in the Pacific Island and in Asia.”

All clients are treated individually

Clare adds, “There is no one formula which works all the time.  People have to be treated differently from each other.  One of our main products is business mentoring for small companies or start ups.  We can not do the same mentoring session for every client.  We have to take the time to really listen to them, think about what they are trying to do and pull out the tools and contacts we have to help them.”
 
There is a downside to this individualised approach though.  “It is not a numbers game for us.  We don’t push everyone through so we can tick a box.  Each and every one of our clients has hopes and dreams about their business.  We may have to suggest some pretty drastic changes to their initial plans.  Sometimes we have to burst their bubble entirely because it simply won’t work.  We want to be honest.  One of the things you notice about business is that you keep coming back across the same people.  You don’t want to damage your long-term reputation just to get a small sale.

“I have come to appreciate the importance of ‘face time’ for every organisation regardless of size.  Email and phone calls are fine but it can be tempting to think that is all there is.  Never underestimate the power of meeting in person.  Face to face, people can solve problems quickly and without misunderstanding.  Vitally, it gives you a real understanding of the client’s culture, outlook and ethos.  I know it can be a big commitment of scarce time.  Juggling the diary is hard but the results can be worth it,” says Clare.

Asked for a final piece of advice about running a business, Clare pauses before answering:  “Have passion about what you do and be sure to follow through.  Rather than getting a lot of jobs you can’t handle, do successfully the jobs you do get. Delivering results will encourage existing customers to come back and new customers to find you.  That’s the best advice.” 
 

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