Aspen Waite News - Summer 2020

Aspen Waite

Group News • Summer 2020

Follow your yellow brick road...

In this issue:

• cashless societies • a surge of innovation • wellbeing special • updates on the Radio

Advise • Educate • Innovate

Our time has come Updates from Paul Waite, Chief Executive

The COVID-19 lockdown has turned many people’s world upside down. 9 million people furloughed, the economy in meltdown, the world an increasingly divided and anarchistic place.

A lack of leadership from Government and the Media completely overtaken by the preachings of the left, anti-Brexit, anti-white, anti-British history, anti-free speech and much more.

I often say the 2008 recession had to take place for Aspen Waite’s message to really take root. Before the recession the mediocre Accountants could hide but post-recession business owners wanted an old fashioned service, people who could add value and cared about their businesses.

Very conveniently, before lockdown we had overhauled our website to more properly represent our offering and then launched our Friend programme.

We had invested heavily in Media and our new recording studio, moves which proved to be perfect for the new lockdown world.

The last few months have beyond doubt been the best in the 26¾ years of Aspen Waite’s life and it has transformed my life.

My lovely garden has become my office which has been good for the tan, and allows for a much better routine.

Lockdown has changed my idea of how to work forever. We have embraced the virtual world and delivered some high level offerings.

We started out with daily live streams but this has now reduced to one quality offering a week. The first couple of radio shows were stressful and full of pressure. It was only really on the third show that I started to relax and I now feel like a seasoned veteran.

The activation of Aspen Waite Radio gave me immense pride and if any station plays better music I have got to find it.

The drift of the mainstream media to the left, wokeness, and an inability to encourage debate has created clear middle ground which we aim to fully exploit.

Aspen Waite Radio has fully launched and I am extremely proud and excited that my idea of 2½ years ago should have turned into such a serious proposition.

We have also been running a History series entitled “The Birth of a Nation”. This is an eight part series on England from around 450AD to 1066AD. It has been a thrill to do this with my son, Calum, and we have done a good job, getting better every week.

One big issue over lockdown has been mental health and well-being. I have probably been as busy as anyone in the country but with pretty much nowhere to go, there is no real distinction between the days and nearly all of my relationships have been virtual ones.

I have been getting up shortly after 6am and going to bed just after 10pm; starting every morning with 30 minutes on the running machine. Then usually around 4pm a bike ride. I have now done over 1,000 cycling miles over lockdown.

Many people have been less fortunate, unable to operate their businesses and slowly going stir crazy. We intend to extend our Complete Business Growth Service offering services for business owners and executives; to include mentoring, wellness, mental health and nutrition.

We are also on the Acquisition trail and will be announcing some exciting developments within the next quarter.

This includes strengthening the accountancy core and a highly relevant new service as well as the launch of Aspen Waite Food.

One of my qualities as an Entrepreneur is opportunism and sometimes situations develop that one just has to grasp.

We are very much building a brand and doing a rather good job of it in running, if I do say so myself.

I will continue to follow my nose and aim to be the major disruptor in the market for many years to come.

We have continued to recruit the finest talent we can, after all it is great people that make for a great business.

So I am delighted to announce the arrival of our Group CFO Ahmed Waqas, Chief Operating Officer Rob Hook and Media Executive Charlotte Richardson (those of you who listen to Aspen Waite Radio will be familiar with Charlotte).

We also have a great young Chartered Accountant joining us in Michael Whitefield and a top man to head up our expanded Irish operations in Brendan Burns.

I hope you like the cover design? I particularly enjoy coming up with an original idea and have the perfect foil for me in Carley.

For those of you who are impressed by what we do in the Marketing and Media space, we are now really looking to commercialise our offering and so you too can have great literature, podcasts, branding, etc. if you would like to. All delivered to you by real people who you know have succeeded.

I hope you enjoy the articles and especially the feature on my and Tina’s day out at Jackdaws Castle. Too much champagne!

It leaves me to thank my superb team for being the best. The Aspen Waite Family has never been stronger.

Special thanks to Drew and Tina for their daily devotion.

We are living in a world of opportunity; please see it that way and if you need help or encouragement you know where you will find True Friends.

Acquisitions – Avoiding the Failures Perry Lewis FCA CF, Head of Corporate Finance

Acquisitions have gone off the boil recently upon the onset of the pandemic with a number of acquirers seeking to pull out of pre-covid agreed deals. Some have already reached the litigation stage Others are looking to consciously uncouple such as the sale of Victoria’s secret by L Brands to Sycamore Partners. Amherst Residential have just pulled out of a $3.2 billion deal to buy home rental company, Front Yard. However, as we emerge from the lockdown, I expect a surge in acquisition activity as predators look for acquisitions at distressed prices.

It is widely quoted that the majority of acquisitions fail to meet their original objectives. This doesn’t mean that most

fail, only that they weren’t as successful as originally expected.

Often these are attributed to over-optimistic market perceptions, or the need to talk up the acquirer’s share price in a competitive bid, or on some failure in the due diligence process. But in my experience the single most common reason is the failure to anticipate, adequately plan and execute postacquisition integration.

Think about it. We go to great lengths to recruit a senior manager, preparing job and person specifications, conducting exhaustive interviews and tests. We then take them on a trial basis, put them through induction programmes and take extensive steps to acclimatise them so that they can become an

management succession. My clients were able to re-acquire the business for £1.5 million, a fraction of the original cost.

A number of the major UK retailers and banks burnt their fingers through not anticipating the cultural differences when acquiring US businesses. Some years ago Metropolis subsidiary Emap, sold its US magazine business for £366 million having paid £950 million for it just two years earlier.

I advocate a structured approach to the assimilation process: -

Ascertain and quantify the strategic objectives through the acquisition and identify the key value drivers of the target This will enable you to focus on the value critical areas. This may comprise, for example, increasing market share or buying power by the acquisition of a competitor, or increasing efficiency/ margins through know-how or technology, or an additional product range that can be introduced to an existing customer base.

Appoint an Integration Supervisor

effective member of the team.

But how many acquirers go to the same lengths when taking on a business with 100 staff where, if it doesn’t work out, a quick exit is not so simple?

I once acted for the management team and founders of a public relations consultancy that had three years earlier been acquired by a major international advertising group for some £10 million.

However, from the outset the acquirer had failed to integrate the target’s activities into their own and discovered that when the service contracts and restrictive covenants of the key directors (the management team/ founders) were about to expire, there was no

The Integration Supervisor should be a senior member of the acquirer’s management team. It will be his/her role to plan and direct the process and report on progress.

They will be accountable to the board for its success or failure. Following the acquisition they will appoint teams in key departments, to manage the integration process.

Create an outline integration plan This will often include office relocation, training, introducing a management succession programme, integrating reporting/IT systems, rationalising combined overhead base and developing a cohesive marketing plan.

Trying to combining two different cultures into one organisation where the acquirer is seeking to change the culture of target personnel is not easy. People usually resist change to the way they work and as my father used to tell me “if you do what you have always done, you will get what you always got.” So integration means getting target personnel to buy into the changes by being effective in communicating the business vision, and involving them in implementing the change process.

I am aware of one recent major corporate takeover where some considerable thought and planning went into the integration process. Unfortunately this involved many “jobs for the boys” providing the plum positions to the acquirer’s staff and leading to much resentment and de-motivation amongst senior target staff. Although this is common (the spoils of war) and it is too early to see the effect of this on performance, I would expect to see a significant number of defections to competitors in the short-term coupled with a considerable loss of business in the medium/long-term.

Alas, accountants have also fallen into the culture trap with accountancy consolidators Tenon and Vantis both focussing on the mathematical benefits of their acquisition strategies with insufficient attention to the internal cultural clashes that occurred postacquisition.

Conduct commercial due diligence to verify the viability of the integration plan Ensure your due diligence includes considering the soft issues e.g. culture, personalities, staff morale and customer and supplier attitudes. This will identify risk areas and highlight the barriers to implementation of the integration plan, e.g. IT incompatibility, cultural differences, staff attitudes and salary differentials, and varied credit terms.

By undertaking extensive risk analysis and quantifying their effect and expected additional costs, the acquirer may seek to adjust the price, seek appropriate warranties and refine their integration plan.

Attention to detail is vital. So if you are acquiring to access a customer base for marketing what would be to them a new product range, make sure you will be accessing the right decision-makers. I was retained to act for a bed manufacturer that sought to dispose of a sofa-bed subsidiary, which it had previously bought with a view to accessing prospective new major retailing customers.

The previous acquisition had failed to generate the expected synergies because the bed buyers (bedroom furniture) at these customers were different from those that undertook sofa-bed purchases (lounge furniture) and the incumbent sales force were insufficiently trained and incentivised to exploit existing contacts to expand their marketing to other departments.

Install reporting and control systems to monitor and review progress Specific key performance indicators should be developed for the value-critical areas. For example, average sales of new product to the acquired customer base, budgetary targets for overhead rationalisation and average percentage reduction in unit product supply cost. These should be incorporated in to the budgeting process and the regular strategic results reporting to the Board.

For more information on any aspect of corporate finance, acquisitions and mergers, contact Perry and the CF Team perry.lewis@aspen-waite.co.uk

Meet our new Group CFO, Ahmed Waqas When did you decide you wanted to be an accountant?

I always say I am a Chartered Certified Accountant by choice and not by accident.

My loyalty, commitment and passion to my profession is what stands me out.

My commitment to accountancy profession was from early school days.

I always wanted to take challenging paths and achieving my professional qualification was everything for me since I was able to make distinction between good and bad.

What have been some of your biggest challenges?

This journey was not as smooth as one would like to imagine, and since the start of my professional studies, I have had many moments where my focus got blurred, a little and at times more, but my hunger to be able to do good for underprivileged and passion for accounting never left me go astray.

This kept me moving forward in the right direction and I continued to pursue my career with all zeal and enthusiasm, no matter how impossible at times it might have appeared back then.

What did you do before joining Aspen Waite?

Prior to joining Aspen Waite Chartered Accountants, I had career with SMEs, BIG 4 Accountancy Practises, major FMCG and FTSE 100 listed businesses, where I worked in External Audit, Finance, Tax and Financial Controls.

I am thrilled to be a part of forward thinking Aspen Waite Group as Group CFO under the vision & leadership of our very Inspirational Founder and Group CEO “Paul Waite”.

I believe that this great opportunity comes with its own rewardable challenges.

I am risk taker and like to take challenging roles where my skills and abilities are tested and where I am able to not only add value to the business but also be able to polish my existing skills.

This Journey to date in itself is manifestation of my commitment, passion, and consistency which I believe is key to be successful in any profession of life. I believe, my journey has just started again and I have yet much to achieve, on top of what I have already so far What attracted you to Aspen Waite?

I have passion to serve the wider community in any shape or form and believe this role at Aspen Waite best fits with my professional and personal aspirations.

I am deeply inspired and motivated by Aspen Waite business slogan “Creating a world where no business owner is left alone”. At Aspen Waite, I am delighted that I will be working with some brilliant minds and great professionals.

I strongly believe that “Every day is a School Day” & no matter which position you work at, one is always learning.

Any top tips for our readers?

Going to work with an open mind where you are willing to share your experiences and learn from others is what makes you a better professional As businesses become more open to publicly talking about employee mental health, businesses can play their part in projecting positive mental health by becoming an advocate.

Set manageable work hours, have mental health resources readily available, and encourage healthy living.

When employees feel happy and healthy, they are able to work to the best of their ability.

Moreover, contented workers show the very culture your organization breeds, so take care of your staff and they will take care of you.

Ahmed Waqas CAT ACCA MBA Group CFO

A day at the races... well, Jackdaws Castle Paul and Tina were treated to a day at Jackdaws Castle to watch the Royal Ascot Festival. Joined by the legendary Jonjo O’Neill and his team, the enjoyed an afternoon watching the famous festival in the stunning surroundings of Jackdaws Castle and welldeserved glass of champagne.

Paul said “I was introduced to Jonjo and Jackie at the end of 2019 by the incomparably cheerful and brilliant trainer Tim Vaughan.

Meeting Jonjo was an enormous thrill as he was a true hero mainly as the regular rider of my favourite horse of all time Sea Pigeon.

If you have not already watched my interview with Jonjo please do and if nothing else you will see I really do my horse racing onions.

I seem to have earned the trust of the family and few days go by without me advising on something.

Wonderful people, they are like walking ready brek.

A further reminder that you can be lovely and also operate a successful business.”

Paul and Tina meeting Penman

The Jonjo O’Neill Interview The great Jonjo O’Neill, renowned trainer and ex-jockey speaks about his career, achievements, favourite horses and much more in our exclusive interview hosted by Paul Waite.

Watch the interview on Facebook at www.facebook.com/AspenWaite

A riddle, wrapped in a mystery, inside an enigma Darren Horne & Clare Wiltshire. Aspen Waite China UK Whatever you may think of Winston Churchill, it is undeniable that he had a great way with words, and in a broadcast in 1939 he referred to Russia as a riddle, wrapped in a mystery, inside an enigma. Jump forward over eighty years and we might say the same today about China.

I have worked closely with the Aspen Waite China UK team for some years and have developed close links between them and South West Business Council. I lead for them on international groups to establish better overseas trade and investment opportunities for South West businesses. The current world scene is creating adverse reactions to China’s behavior in Hong Kong and the treatment of the Ughurs in Xinjiang Province.

However, the treatment of BAME people in Britain is also under scrutiny and there is some merit in considering the old Biblical adage, “Let him who is without sin cast the first stone”. On a person-to-person or business-to-business level, friendship and cooperation with China should not be affected. Indeed, we need that cooperation more than ever.

As we endeavour to claw our way back out of the COVID-19 abyss, we need to take a global view more than ever, and whatever you may think of China, their economy is burgeoning and they are in great need of innovation and we are in great need of investment and markets. ...and it just so happens that that is what Aspen Waite China UK is good at – linking our needs and strengths to their needs and strengths.

In Europe we have developed similar business and commercial structures, not least as a result of our many years in the Common Market and EU, and our democratic systems are similar. Also, we manage to communicate.

Either we talk English very v e r y slowly and shout, or else we rely on them speaking English! At times we may even speak French ‘comme une vache espangole’! (Like a Spanish cow - a rude French expression for

speaking French badly.) Doing business with China needs help. We are less likely to speak Mandarin or Cantonese and their English may be stilted.

Also their state structure is very different, with the Government playing a more prominent role. Navigating your way around this requires an intermediary; someone who understands their structures. It is also a vast country and finding the most appropriate link is far less straightforward. This is where Aspen Waite China UK comes into its own.

They have the connection to the Chinese Economic Development Zones. They have the right Government links.

A prime example of this lay in the education field. British Universities obtain enormous revenues from Chinese students, but a lack of compatibility in exam recognition meant that there were no links between UK Colleges of Further Education and Chinese students.

How Aspen Waite China UK can help Aspen Waite China UK, recognizing this, set about creating a way that it could be overcome, and this is starting to create great benefits in both China and he UK. Thanks to Darren Horne and his team, we have now linked South West Business Council to the South West China Alliance, and we expect to create highly beneficial links between the two regions.

Hi tech business startups in our UK region can struggle to establish themselves, however innovative their ideas may be.

China loves new tech and can invest and also provide a massive market; and for every such link Aspen Waite China UK earns a respectable income – and the bigger the deal, the bigger the commission. Everyone wins – so what’s not to like?

How the COVID-19 Crisis has created a Surge of Innovation Dr. Oksana Artyomenko, MD, oksana@aspen-waite.co.uk For many businesses, the COVID-19 pandemic resulted in a complete halt or reduction of activities, loss of revenues, and a high level of uncertainty towards the business outlook.

governments was trying to secure adequate supplies, academics, corporates and even individuals started producing essential PPE components via 3D-printing and amending their production lines.

However, for others it has created a window of opportunity. Companies like Zoom, GoToMeeting, Join.me and others have benefited from people switching to remote working procedures, with online meetings becoming ubiquitous across all industries.

Online entertainment platforms saw a surge in the number of new users signing up.

High tech contact tracing has been deployed in many countries to identify who’s been where and subsequently alert those who might have been in proximity to someone with COVID-19.

Many companies proposing solutions for remote interaction with both people and data, used to struggle getting traction due to resistance to change and certain regulatory restrictions. Now they are being welcomed with open arms as enablers for many other businesses to continue their operations.

One particular industry, historically being risk-averse, started to become more amenable to innovation under these circumstances. The ongoing global crisis forced healthcare institutions and regulatory bodies to turn to alternative ways of providing healthcare while limiting exposure to the virus.

With entire countries under lockdown, telemedicine appeared to be a perfect solution, as it limits patient exposure to hospital settings and ensures hospital resources are used on high priority cases.

Remote consultations were adopted across primary and secondary care, robots started helping in monitoring infected patients, limiting contact with medical personnel, delivering medical supplies and disinfecting wards. Some companies are combining machine learning with network science to find new drug candidates against the virus.

We all heard about personal protective equipment (PPE) shortages, and while the

There are at least 10 countries employing such surveillance methods, including mobile apps, Bluetooth and wireless signals, bank transactions and CCTV footage tracking.

Tech giants Apple and Google formed a partnership to include contact-tracing into their operating systems, which is now being adopted by the UK government, following an unsuccessful attempt to develop and deploy an alternative solution.

And it’s not only healthcare that sees this opportunity. Social distancing measures, which may stay in place for significantly longer than the lockdown, require a different approach to many tasks we usually perform without much consideration.

The UK government has recognized the needs to respond to the crisis brought by Covid-19 by launching a number of calls aimed at businesses focussed on emerging or increasing needs of society and industries during and following the pandemic.

That includes shopping, payments, supply chains, remote monitoring of various processes, national security and personal data protection, social changes and mental health impact etc.

By fast-tracking innovation, we are aiming to maintain employment levels, a competitive position in global markets and make the UK more resilient to similar disruption. It comes as part of the £1.25 billion funding package for high-growth innovative businesses, launched in May. It comprises of a £500 million fund for high-growth companies affected by COVID-19 and a £750 million fund for small- and medium-sized businesses with the greatest focus on research and development.

Overall, over the last few months we saw a high number of the UK science and technology businesses using this opportunity to find solution to help diagnose and combat the virus, and make people’s life safer and easier under these pressures.

We must apply lessons learned from this pandemic to be better prepared for similar outbreaks and the ‘new normal’ of the future.

And given the UK has some of the brightest minds, scientists and innovators in the world, I am confident we will.

We are live on air!

Aspen Waite Radio, the station where you matter.

Paul Waite

July sees the launch of our radio station with the first live shows from our presenters.

We’re here for you to educate, entertain and enjoy! The Number one business radio station, Aspen Waite Radio makes business matter.

At Aspen Waite Radio, we’re carrying on with our work to create a world where no business owner is alone, starting the conversations you didn’t know you wanted to be a part of and you certainly won’t want to miss.

Meet the Presenters Ben Eltham

Eddie Castle

Charlotte Richardson

Hope Ellen

Jules Ivie

James Cummins

Educate, Entertain, Enjoy As valued clients, we want to welcome you to be a part of the station and the conversations that matter. There are so many ways for you to get involved. Download the Aspen Waite Podcast and join Britain’s real business debate. Available each week on ITunes and Spotify. Also make sure you tune in live by visiting www. aspenwaiteradio.com.

This is a truly exciting time for us and we hope you’ll join us on the journey. Follow our social media channels as we bring you the latest business news, updates, and hottest interviews with today’s most influential leaders, in the Aspen Waite Way! Questions? Feedback? studio@aspenwaiteradio.com

Listen now @ www.aspenwaiteradio.com

Follow us @AspenWaiteRadio

Behind the Scenes

Follow us on social media for more great photos, videos and facts about the presenters.

Meet the team behind the station

From Left to Right...

Director of Media & Programme Director: Ben Eltham IT Manager: Ross Curry Operations Manager: Kim Stanton Marketing Manager: Charlotte Richardson Executive Producer & Assistant Head of Programming: Jules Ivie Video and Audio Producer: Drew Armstrong Station Engineer: Craig Arthur

Frequently asked questions What is Aspen Waite Radio?

Aspen Waite Radio was founded as the vision of Paul Waite, CEO of the Somerset-based accountancy and R&D firm/complete business growth service, Aspen Waite. He was driven to set up this station as a result of his passion for media and radio, and as a vehicle to reach out to, engage with and support the company’s clients and potential partners, alongside those who are new to the company.

What’s the purpose of Aspen Waite Radio?

At Aspen Waite Radio, we aim to create engaging content that educates but also entertains and provides some light relief, around the platform of a music-based station.

As a media arm of Aspen Waite, our content is themed around work-life balance. We aim to address, discuss and explore topics of interest to businesses and business-owners within our content, and provide a platform that our clients can become involved in, through one-off interviews or as potentially regular contributors.

At the same time, our primary goal is to entertain, by balancing the more topical and workrelated content, with enjoyable features, escapism, and other themes that can link into getting that perfect work-life balance throughout the day. Our station sound aims to be positive, informative, supportive and friendly to all, at any time of day.

How can I support the station?

There are lots of ways: • Tune in and get involved. Whether this be by contacting the presenters, engaging with social media posts or suggesting areas or things that can be improved, we’d love to hear from you • Follow us on social media. We need to build our audience and you play a big part in showcasing the station to lots of new people • Signpost as many people as you can to www.aspenwaiteradio.com Are we on social media?

We sure are - you can search the handle @AspenWaiteRadio on all the major networks.

Please give them a follow, comment on our posts and share them too!

Can partners and clients get involved?

We have only just started the journey at Aspen Waite Radio and our clients are a part of that journey. We want to welcome clients to be a part of the station and the conversations that matter. We would be delighted to involve clients with our brand-new radio station, our shows and our amazing team of presenters.

If you are interested in promoting your business and services on Aspen Waite Radio or know someone who might be, please get in touch with our Chief Commercial Officer, Samantha Clyde samc@aspenwaite.co.uk to discuss.

From all the team - thanks for listening!

“Seeing” is the next big thing Monika Stukova • Corporate Finance monika.stukova@aspen-waite.co.uk Minnesota-based dairy giant Land O’Lakes recently made history. It hired a Silicon Valley startup Plus.ai to deliver 20 tons of butter across America by lorry. The vehicle completed the 2,800-mile coast-to-coast journey in less than 3 days.

And here’s the thing…. the semi-tractor-trailer drove itself the whole way!

Although there was a safety driver on board at all times, he didn’t have to put his hands on the wheel once. This was the first freight run where a self-driving lorry delivered goods for a paying customer.

The vehicle relied on simultaneous location and mapping (SLAM) technology and a suite of sensors like cameras to “see” 360 degrees, lidar and radar – laser-based technology to

help vehicles determine distance – as well as computer vision software underpinned by artificial intelligence.

Robo-lorry startup TuSimple has recently expanded its partnership with the delivery giant UPS to 20 trips per week. The San Diego-based driverless lorry developer valued at $1 billion is hauling parcels for UPS across Arizona and Texas and is achieving 10% fuel savings.

Many people doubt self-driving vehicles will ever get on our roads. After all, we’ve been hearing about driverless cars for decades now. Numerous carmakers including Mercedes-Benz, Audi, and Ford tried developing them too. They, however, couldn’t figure out how to make a machine to ‘see’.

We’ve taught computers how to do mathematics—and do it much faster than the human brain. We’ve taught them how to read, and powerful search engines were born. Now, computers can hear and recognise our voices too. But they could never master vision… until now.

A few years ago even the world’s top computer couldn’t spot the difference between a dog and a blueberry muffin.

There was little hope for a driverless car to recognise cyclists as humans.

The turning point occurred in 2012 when, for the first time in history, a machine could identify objects better than a human. A deep learning algorithm won the competition against a trained human, and it was a clear victory for the AI.

Google’s Waymo recently announced that it has enrolled 1,000 customers for its robo-taxi service in Phoenix. Today you can take a ride in a fully driverless Waymo minivan.

Waymo’s sensors and software scan constantly for objects around the vehicle and can see up to three football pitches away in every direction. The car’s centralised “brain” predicts the movements of everything around it.

So, in the future you wouldn’t own a car - you’d just book rides from a fleet of robocars maintained by Waymo and Uber in the US, Didi in China, Ola in India or Grab in Southeast Asia. It’s been predicted that autonomous ride-hailing will be cheaper per mile than buying a new car or operating an existing vehicle.

E-commerce giant Amazon is also looking to expand its reach to self-driving car technology. It is in advanced talks to buy robocar startup Zoox for $2 billion. If the deal goes ahead, it will be the largest acquisition in self-driving history and will support Amazon in building an autonomous delivery infrastructure.

Computer vision is set to be the most disruptive innovation driver. And the coronavirus is speeding up this disruption.

Businesses around the world are investing large sums into computer vision “apps”.

For example, Chinese tech titan Alibaba’s new computer vision system can detect coronavirus in CT scans in seconds with 96% accuracy.

This is just the beginning…

It has taken a considerable amount of training through millions of real-world images of everything to teach computers to recognise objects. Now, it looks like it is only a matter of time before your smartphone is better at recognising the content of your pictures than you are.

Image Credits: HuffPost.com Google, Waymo

Johno Harris

A Tough Mental Attitude for Winning at Life and Business Currently, life is pretty tough for most, whether you’ve been directly affected by Covid-19 or indirectly.

Maybe you’ve been locked up with your fabulous family whom you love, only to discover being cooped up in such close proximity, for so long, has it’s own challenges. Whatever your situation, there is a strong argument for developing a tough mental attitude in these unprecedented times.

One thing is certain, winning at life depends in large measure on your thinking - having a tough mental attitude. Winning involves facing reality as it is, even if it is difficult.

The strength and firmness of winners are grounded in clear value systems and priorities, developed through crystallized thinking.

A tough mental attitude makes it possible to stand firm against any kind of opposition or criticism, to stick to the job regardless of the problems or obstacles that arise. It provides the flexibility of mind to find a solution.

We all encounter difficulties, but people who know who they are and what they are, where they stand now, and where they want to get to, generally have a strong self-image, and this is what will give them that tough mental attitude.

We are living through unprecedented times, and it is vital to develop a tough mental attitude toward problems or challenges we face as both a collective, and individually.

As this goes to press, a metal fabrication engineering company in Devon had to furlough their staff because of the Covid-19 lock-down, they specialized in abattoir

buildings. The owner realized there was nothing he could do about the situation.

However, following a discussion with his wife, he realized she was no longer able to go to the gym and had no access to weights or gym equipment at home.

E-bay and Amazon had sold out! He also concluded most gym members were in the same situation and he had machinery that could make things out of metal.

One thing is certain, winning at life depends in large measure on your thinking - having a tough mental attitude. Winning involves facing reality as it is, even if it is difficult.

The strength and firmness of winners are grounded in clear value systems and priorities, developed through crystallized thinking. A tough mental attitude makes it possible to stand firm against any kind of opposition or criticism, to stick to the job regardless of the problems or obstacles that arise. It provides the flexibility of mind to find a solution.

We all encounter difficulties, but people who know who they are and what they are, where they stand now, and where they want to get to, generally have a strong self-image, and this is what will give them that tough mental attitude.

We are living through unprecedented times, and it is vital to develop a tough mental attitude toward problems or challenges we face as both a collective, and individually.

As this goes to press, a metal fabrication engineering company in Devon had to furlough their staff because of the Covid-19 lock-down, they specialized in abattoir buildings. The owner realized there was nothing he could do about the situation.

However, following a discussion with his wife, he realized she was no longer able to go to the gym and had no access to weights or gym equipment at home.

E-bay and Amazon had sold out! He also concluded most gym members were in the same situation and he had machinery that could make things out of metal.

In less than 2 weeks they had recalibrated their CNC machinery to make dumbbells and weights and in less than 3 months they were doing over £1m turnover on Dumbbells alone!

To develop a tough mental attitude there are a couple of steps to work on: Never let a problem fester - plan your strategy for resolving it, and take action – Some problems require a great deal of imagination and hard work to resolve, others are just a conversation away. Schedule time to work on it , daily, until you find a way through.

Once resolved, take what you can learn from it and move on. Do not look back unless you want to go that way.

Understand the difference between a problem and a challenge. Many people automatically view challenges as problems because they are not what they are used to. Having a tough mental attitude is all about relishing challenge as you will learn something and not only that, this is what creates real life experience, something money cannot buy.

Crystallize your thinking. What is it that you really want to achieve? What are the benefits of getting there and why have you not achieved it already?

People with tough mental attitudes often use affirmations - positive statements about themselves and their situations that give them the confidence to take the next step.

One very powerful affirmation you can use to get started with is : “I trust in the process of Life and I love my life”. Try it for 1 week or 1 month. Say it every day when you awaken.

You may be surprised at what happens

How resilient is your mindset?

When she’s not open-water swimming or converting new leads, Aspen Waite’s Rachael Wood helps colleagues and clients alike build healthy, positive outlooks. We asked Rachael where her near endless positivity and energy comes from - and how you can build a resilient mindset.

People often comment on my positive, cheerful outlook & attitude to life, even during these unprecedented times. “Is it for real?” In one word, “YES”.

Though that doesn’t mean life has always been a bed of roses. I have been through some challenging times; what I refer to as “character building” experiences.

However, I choose to see the positive in every situation with the strong belief every cloud has a silver lining.

I have always taken an interest in how the mind works, am open to new ways of thinking, taking a particular interest in personal development over the last 10 years or so. I am certain this has played a significant part in my resilience to the current pandemic situation.

I know we are fortunate in that Aspen Waite was seemingly ‘prepared’ for & has thrived through the Covid-19 pandemic, and for that I am grateful. At the same time, I am

aware that not all businesses have been as fortunate, and that the economy, indeed whole world is facing very unsettling times.

Whilst talking with a friend a few weeks ago, he wisely said “Some say we’re all in the same boat. However, I don’t think that’s entirely true. We’re all in the same storm, yes, though we are all in different boats and that’s ok”.

I am of the mindset “Don’t waste time worrying about what you cannot change, rather focus your attention on what you can”. Whilst we may not be able to control what happens to us, we can control how we react to it, all starting with managing our own mindset.

How do YOU start your day?

Do you ever think “Ugh... I got out the wrong side of the bed this morning!” or “Hmmm. I’m just having one of those days” ... I have only had that thought maybe once or twice (IF that) in the last 7 years! I attribute this to my personal development work of recent years.

How do you feel if you oversleep? Do you automatically go into “Oh Sh*te” headless chicken panic mode OR (as long as you’ve not actually missed a train/flight/appointment) “Oh well, I clearly needed the sleep & how great that I’ve now caught up with some. I will just have to move faster this morning to get out the door/ to my desk in time” ...

Do you use your mobile phone as an alarm?

What is the first thing you do in the morning?

Check your phone to see the time? your social media feed? your messages? your emails? OR do you turn on the TV to catch up on the news?? Is your phone/the media driving your day? HOW does this make you feel? Stressed? Overwhelmed?

In an ideal world I would not use my phone as an alarm clock. However, as I currently do, I discipline myself to refrain from checking my inboxes. Instead I take the first hour of the day for me and my own agenda, rather than pandering to the needs of everyone else’s from the moment my eyes open!

I am a BIG believer in taking time out for yourself every single morning to set the tone for the day, and to create the mindset that you want for the rest of the day, it really does make a huge difference to the way your day pans out! Try it!

My Top Tips to building a positive, resilient mindset.

Start the day with the Attitude of Gratitude.

Even before you get out of bed, take a moment to think about what you are grateful for. Whether that’s your cosy bed, the sunrise, a beautiful day breaking, your partner, child or pet by your side OR even just the fact that you feel refreshed from a good night’s sleep & you didn’t oversleep!

At a recent seminar, a renowned International Life & Business Coach talked about saying “Thank You” as he got out of bed & put his feet on the floor. Thank you as he walked to the bathroom, as he cleaned his teeth. I have adopted this practice, mindful of a wheelchair bound friend who unfortunately doesn’t have this luxury.

Drink a glass of fresh water, take any supplements; personally, I take a shot of aloe vera, a few supplements alongside hot water with lemon, ginger, turmeric & honey all to help maintain a healthy immune system.

I then go back to sit in bed (with my hot water & lemon brew) for a quick 5-15 minute meditation (courtesy of YouTube), as my schedule allows. I’ve recently taken up early morning river swimming which is a wonderfully invigorating way to start the day, so on these days my meditation practice time is spent in the water!

Exercise – Following back issues a few years ago, morning exercise has since been an essential part of my daily morning routine. Whilst gyms have been closed, I have increased my yoga practice; with 10-30 minutes of yoga (as schedule allows) for the last 100 days: repeatedly following a fabulous 30 day Yoga Challenge on YouTube.

Close yoga practice with a 5 minute meditation with affirmations to set the tone of the day.

Gratitude/Intentions Journal – I have kept a gratitude journal for several years & the practice is highly recommended. Mindful of the fact what you think about, comes about, every morning I write: • 3 things I am grateful for • 3 things I want to achieve today • 3 words to describe the kind of day I intend to have e.g. Productive, Focused, Rewarding It takes only 21 Days to create a new habit.

Why not try it? Embrace the day with the attitude; “Whether you think you can, or think you cannot, you are right” Henry Ford. Adopt the mindset that you can do it!

How long does this all take? Minimum 25 minutes; maximum an hour and in my mind, totally worth setting the alarm a little earlier for!

Top tips to stay strong throughout the day 1. Have a clear plan for your day ahead.

2. Do what you don’t want to do first!

3. Stay focused on the task in hand with 20 minute time slots; “pomodoro technique”.

4. If you need to make/attend a challenging call/meeting, take time to envisage it and how you want it to go. Visualise it going well & reaching your desired outcome.

IF it’s a super challenging one, consider looking in the mirror; tell yourself “You can do this”! I know this might sound rather silly (that’s what I first thought), but IF you’re procrastinating - try it, it works!

5. When driving to a client meeting, after doing 4. above, I listen to an AW podcast & business programmes to get into the zone. 15 minutes before arrival I return my focus to the meeting ahead & the outcome I want to achieve.

6. If it’s a desk bound day, take the time to stretch out neck, back & shoulders.

7. Stay hydrated. Drink plenty of water; recommended 100ml for every 100 calories consumed, around 2l on average 8. Point 7 above calls for plenty of comfort breaks to stretch your legs & get away from the screen. You can stretch shoulders on the way!

9. Get fresh air/exercise every day.

Throughout lockdown I have been for a sunset walk/run every evening. Rather than listen to music, I use it as head clearing/ thinking time & often find solutions to challenges during this time.

10. Healthy Eating – always aim for a colourful plate - you are what you eat!

11. Be sure to do at least one thing that makes YOU happy every single day. “Do More Of What Makes You Happy” is my mantra for life!

12. Get Enough Sleep. Everyone is different.

You know how much sleep you need.

Make sure you get it! IF for any reason you cannot sleep, do a “data dump”; have a notepad by your bed & write down what’s on your mind. I find I can sleep a lot easier afterwards.

13. Evening Routine: Phone on airplane mode from 11pm. I also journal at end of day: writing 1 thing I am grateful for, 1 thing I appreciate & my favourite moment of the day. I’ve kept a bedtime journal since childhood, and for the last 10 years this has developed into a Gratitude Journal.

I find focusing the mind on positive thoughts before bed helps to get a good night’s sleep. Bedtime reading; I prefer something light/inspirational, rather than a thriller!

14. Finally, talking of thrillers! The Media…

•

Social Media – I limit my time on social media & avoid the ‘doom & gloomers’.

Mindful of the Law of Attraction, I always strive to post positive, feel good messages.

•

Newspapers – weekends only & during the week I get my news online

•

TV? Generally speaking, I don’t watch it, though did tune into the government briefing online every day. Glasto & Strictly are the only 2 things I always turn the TV on for!

IF you have made it this far, thank you for reading. I hope it has been of some interest & inspired you to review your own daily practices.

Rachael loving life out on the open water!

If you want a different outcome, NOW is the time to start DOing something differently. It takes 21 Days to create a habit, so why not try it? After all, you can think whatever you like, SO why not think good thoughts!?!

Concluding with one of my all-time favourite quotes is “Whether you think you can, or think you cannot, you are right� Henry Ford If anyone has any questions, or wants any more information, please drop me an email and I would be very happy to help.

Rachael Wood rachael.wood@aspen-waite.co.uk

The Benefits of a Cashless Society

David Scheeres, CEO Aspen Waite in Wales

I have to confess that the title of this article is somewhat misleading.

I don’t actually believe the benefits of a cashless society outweigh the dangers and disadvantages so I will make my stance on the subject transparent immediately.

As a numismatist I am interested in coins, cash and currency and also their sophisticated use as a tool for promoting ethical ambition and free trade. In my early years I was greatly influenced

by Professor Fernand Braudel’s works on the development of Civilisation and Capitalism between the 15th and 18th Century and appreciated how innovation and trade made huge impacts on Society and all was fuelled and underpinned by the ability to measure and store wealth.

But let’s focus on the implications of a cashless society as the article title intimates.

Benjamin Franklin famously, once, said;

“Any society that would give up a little liberty to gain a little security will deserve neither and lose both”.

So, what has liberty to do with a cashless society?

That is simple to answer.

Liberty is the state of being free within society from oppressive restrictions or interference being imposed by authority on one’s way of life, behaviour, or political

views. To remove cash is a restriction of choice and an inhibition.

One of the insidious aspects of the Coronavirus pandemic has been the reluctance of shops to accept cash. Those shops that have remained open, and in particular certain supermarket giants, have discouraged people from spending notes or coins or have banned their use completely.

Why? Ostensibly this is the “right” thing to do to help stop the spread of the virus that can apparently live on surfaces for several days or not at all according to some epidemiologists you read.

In our rush to appear to be good citizens and compliant to prescribed “common sense” it is easy to overlook the logic of the matter.

A customer goes into a supermarket and handles goods from the shelf that may have been handled several times by other customers notwithstanding the supply chain and the shelf stackers, to then place it on a belt where it is handled by a shop assistant who then hands it to you. The wearing of gloves by some customers and shop personnel

compounds the problem by introducing insouciance in hand washing with the virus passing from the gloves to other products, surfaces and of course the face. How many times did you touch your face in the past ten minutes? Trust me you did!

At the till we will assume you have already played the role of a “Typhoid Mary” and spread the virus around the store and on your shopping but you are told now that you cannot hand over cash because of the danger of contaminating the unfortunate cashier. Utter rubbish and poppycock!

The real reason is quite simple, by avoiding the use of cash the store does not have to pay security firms to collect it, pay bank charges for cash handling, avoid theft, fraud and the potential for accepting counterfeit cash.

This is not a conspiracy theory; this is fact and reality and the current pandemic is allowing the larger retail chains to shamelessly exploit the situation by instigating measures that both they and the previous incumbent Governor of the Bank of England, Marc Carney have been advocating for years.

CREDIT: THE TOWER FOUNDATION

I will not use this article to focus on the vulnerable members of society who cannot access credit easily as my focus is predominantly historical.

It is up to the reader to form their own opinion of other possible social and political issues surrounding this subject.

Yes, I have an opinion but the purpose of my article is to educate primarily with historical facts and not speculation although I will suggest some overt ways in which electronic credit could be misused by those who administer it.

Really?

The dangers of slipping into a cashless society creates considerable unease in me because I resent the potential for any government

to monitor and log every transaction I make and have total control of my liquid assets. The implication is profound. We operate, and have done so since the abolition of the gold standard, a fiat currency.

What is a fiat currency?

This is a currency that is established as money, often by government regulation, but that has no intrinsic value. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.

In the scenario of potential negative interest rates the possibility of a government to seize deposits is easy and if there is no cash in society there is no possibility of avoiding this happening.

Could this really happen in the 21st Century?

It already has in Cyprus where the government limited withdrawals and imposed a “haircut” tax on savings and ostensibly plundered people’s banks accounts without their permission reducing their savings.

If society is run totally by electronic credit the potential for monitoring people’s expenditure and indirectly their politics, sexuality and lifestyle is completely open for exploitation.

“Sorry Mr Scheeres, you can’t have another glass of wine because the terminal says you had one already and you filled your Car at Tesco ninety-six minutes ago.” In a political context your past could well revisit you and possibly a change in government persuasion may target you as a potential dissident.

“Did you really buy the Morning Star for two years Mr Smith? “We know you are a member of XYZ party Mrs Jones”. Is this happening already? China is currently integrating credit with facial recognition apps and controlling the mobility of its citizens by utilising GPS recognition technology in smart phones. No smart phone, no travel. This is of course in addition to the mandatory carrying of identity cards. Mandatory facial recognition on smart phones was introduced in China in December 2019 to access the Internet.

During World War 2 in Holland the majority of Jewish people arrested and deported by the Nazi’s to be murdered were not betrayed by their neighbours or workmates but by government records that allowed them, in a liberal Dutch society, to avoid the payment of tithes to the Church by registering their religion. Apparently, that took some weeks to administer but imagine access to an immediate accessible database that not only registers religion but can track expenditure patterns including diet and literature.

Similarly, any dispute with a government agency could easily be quelled by withdrawing electronic credit leaving you homeless and unable to buy food. Is this some unrealistic dystopian nightmare? Not if we allow it to happen.

The fundamental question has to be, do we trust our

elected governments and the banking system?

A lot of history is suppressed or massaged by the media because it is controlled by vested interests. The Press Baron Lord Beaverbrook famously said in the 1920’s “He who controls the press controls the nation.”

Beaverbrook understood this and owned newspapers on both sides of the political divide. This is a quotation that has now been expunged from the Internet so difficult to find.

So, dealing with reality should we trust governments and the banking sector? Let us examine relatively recent history for one example. I will refer to USA and German history as this is easier to determine from extant documentation and also is a dramatic illustration of what has happened previously that has had ramifications up to the present date.

“It is advisable to do all in your power to sustain such prominent daily and weekly newspapers, especially in the Agricultural and religious Press, as will oppose the greenback issue of paper money and that you will also withhold patronage from all applicants who are not willing to oppose the government issue of money. …To repeal the Act creating bank notes, or to restore to circulation the government issue of money, will be to provide the people with money and will therefore seriously affect our individual profits as bankers and lenders. See your Congressman at once

and engage him to support our interest that we may control legislation.” --James Buel, American Bankers Association President Now, at this moment in history, we are drifting towards the largest Fiat Currency the world had ever known. I do not have the time or space to continue this history but ultimately the Federal Reserve Bank was created on December 13th 1913 by the Federal Reserve Act which lead to the abolition of the Gold Standard in the USA to an extent that private ownership of Gold was made illegal with lengthy prison sentences and huge fines for those found guilty of possession ( except of course the banks).

The Federal Reserve bank or “Fed” as it is colloquially called is a brilliant marketing concept. In one action a Monopoly and banking Cartel was created and it is owned privately by 12 International Banks and is accountable to no one and its stocks are not traded.

The owners include foreign central banks but no one knows what percentage is owned by them or what the payment was made for ownership but it has a Government statute guaranteed 6% interest rate on borrowing regardless of the economy.

The Federal Reserve enjoys a total monopoly in its place as the only central bank in the USA. It is ensured by law that buying its shares is a mandatory condition of its

banking cartel doing business with it. It has no competition and it sets its own market conditions. As far as the bulk of the population is concerned the “Fed” is a government institution with the Nation’s best interests at heart, in reality it is a commercial company with its owners’ best interest at heart.

The workings of the Federal Reserve Bank have been shrouded in mystery, subterfuge and misdirection since its inception and it is enlightening and sometimes amusing to read challenges on its activities in Congress that are met with rebuttal and obfuscation. It makes the behaviour of politicians, who will never commit to a “yes” or “no” answer in interview, appear amateurish.

We now see a very subtle interaction between Government and Banking and the potential for global centralisation of government, a true potential dystopian society in the making.

The groundwork for this

is already in place with Agenda 21 and Agenda 2030 which declares an ambition of mutual international sustainable development.

An ironic observation on the interaction between Government and banking would be this statement which form part of Karl Marx’s Manifesto of the Communist party;

“Centralisation of Credit in The Banks of The State, By Means of a National Bank with State Capital and An Exclusive Monopoly” --Fifth Plank of the Communist Manifesto, Karl Marx 1848 Based on historical fact, the purported guardians of our wealth do not have a fantastic track record of benevolence towards its customers and to allow restrictions on the portability of wealth additionally creates opportunities of exploitation beyond the simple control of assets and introduces an additional moral aspect.

Last year I tried to pay £150 cash for my daughter into her branch of Barclays and was told that they could not accept cash from anyone other than the account holder. When I questioned this, I was told by the teller it was because of money laundering regulations and the deposit could be drug money.

Clearly depositing £150 into her account would not make my daughter the most astute drug dealer in Wales but the underlaying and disgraceful legislation behind this restriction is an affront to liberty as it assumes criminality before the event and before being proven.

The use of the verb “could” in this context assumes an unproven fact and is an insult to the majority of the bank’s customers.

It also restricts the usefulness of physical cash which of course is to the banks advantage. I will conclude by asking you to consider the benefits of a cashless society and of course who benefits from such an “advance”.

These are my personal views and opinions and not those of Aspen Waite Group.

David Scheeres CEO Aspen Waite in Wales

Celebrating over 100 episodes!

Since starting the Complete Business Growth Service podcast in October 2018, our media offering has exploded and we have gone on to produce over 100 episodes, star interviews, live-streams videos and much more.

Throughout lock down Paul and the team held daily live-streams, providing insight on the COVID situation and tips for business owners.

We launched the “Friend” Programme, offering dedicated advice to anyone who got in touch for free. And Paul has also been presenting weekly to the Great British Expos webinar “The Entrepreneurial Journey” and specialist workshops on R&D Tax Credits.

With the help of the media team, this journey has only just begun.

Find our content on social media and search “Complete Business Growth Service podcast”

Aspen Waite Food This summer also saw the launch of Aspen Waite Food, and the incredible opportunity, connecting our food and drink clients together; as well as offering yet another unique and quality service.

With plans in the pipeline to develop our own products, bring on board nationally recognised brands and much more.

If you’d like to find out more, email info@ aspenwaitefoods.co.uk

Helios: The Resource Management Platform

Helios are also proud to have launched a new knowledge hub, offering a range of how-to videos and useful information about the software. Check it out at www.heliosapp.co.uk

Discovery Glass

Have also had a great couple of weeks, with some exciting new features planned for their website including a trade centre and e-commerce capabilities. Watch this space.

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