"Recognise the value of an open mindset": North East BIC chief executive Paul McEldon on leadership

Leadership is typically defined as “the action of leading a group of people or an organisation” and is a frequently-discussed topic within the business community.

It seems as though everybody is looking for the ‘magic formula’ to be a great leader, and there are many examples to draw inspiration from.

As the head of one of the region’s most prominent business development organisations, North East Business Innovation Centre (BIC) chief executive Paul McEldon is well-placed to share his thoughts on the subject, and took the time to chat with Bdaily about all things leadership.

How do you keep your mindset in a place that enables you to lead effectively?

“Whatever the stresses and challenges your business throws at you, it’s critically important that as a leader you recognise the value of an open mindset.

“My role as a leader is to listen and be open to ideas, insights and feedback from colleagues, so I take the time to listen and show that I am hearing and seriously considering their ideas, the pros and cons, before I decide the way forward.

“I am surrounded by expert and skilled colleagues, who have a vast array of experience and can offer me a different perspective on the world, our customers etc… It also shows that I don’t have all the answers!

“However, like most people, I have some strong views about certain topics, so it isn’t always easy to be faced with ideas that challenge our own - even though I might want to be open minded. For that reason, I find time to learn from others and step outside my own organisation and into other sectors whenever I can.

“For example, I am a non-executive director for South Tyneside & Sunderland Foundation Trust and also on the Board of Sunderland College, sharing my experiences but also bringing new approaches and ways of thinking back to the teams at the BIC.”

In an ever-evolving business environment, how do you drive change and empower your team to innovate?

“Getting your staff to think creatively isn’t always easy and doesn’t always happen without encouragement. If you truly want to drive change and empower your team, you must generate a positive culture that rewards creativity and encourages cooperation.

“Through regular staff meetings I aim to keep all the teams in the loop regarding new projects and seek their active participation early on to fuel more ideas.

“We have recently undertaken a brand articulation exercise and I invited representatives from across the company to share their thoughts, feedback, ideas on where are we going and what we want to achieve in the next 25 years.

“And I was overwhelmed by the enthusiasm, the fresh perspectives and the new thinking which will now start to drive the development of new services and processes here at the BIC.

“Employees need to know that they are important and so are their ideas, so give everyone a voice or a route to be heard. As a leader you also need to set the example. Demonstrate how you respond to mistakes and failure and see it as a lesson for the future.

“Innovation often starts with identifying problems but it can be hard for people to criticize processes and what is not working in a business. As a leader, you must not see this as criticism but that your staff care enough to share it with you so that improvements can be made.

“Without trust in the organisation, employees will be less open and honest, and we will have less opportunity to find ways to innovate.”

In business, you often have to take risks and face your fears in order to achieve your goals. Tell us about a time when you changed your mindset to stimulate growth.

“As an accountant, I take comfort in seeing financial reserves build which the North East BIC did for some time. But I realised that not spending some of the reserves was depriving the company from being able to deliver its social purpose across the region.

“To expand and exert our influence and the expertise we had built up over the years, I - along with my board - realised we had the potential to have a wider impact on the North East through partnership and investment.

“This involved us opening satellite business centre operations in Washington and Darlington, taking a share in Tedco Business Services and NBSL, and using our resources to assist the Innovation Supernetwork and Sunderland Software City to develop and grow.”

As a leader, it can be hard to completely switch off and achieve the ’perfect’ work-life balance. What does this look like for you, and how do you dedicate time to yourself?

“I make sure you that I take holidays and regular short breaks as it’s my opportunity to recharge and refresh.

“Work gets done by teams not by individuals and luckily I am blessed with a great team behind me, who I completely trust to make decisions and get the job done.

“I’m also unfortunately a Sunderland season ticket holder, so for many many years I’ve had the ability to vent my frustrations which is great therapy!”