Breaking down the silos – diversity as a basis for co-creation
How does Gumption give life to its co-creation culture? Accomplishing that requires the right mixture of people and businesses.
How does Gumption give life to its co-creation culture? Accomplishing that requires the right mixture of people and businesses. Marcel van Buren (Co-Creation Business Partner) and Roel Van De Wiele (Co-Creation People Coach) discuss Gumption’s business vision.
A glimpse behind the scenes
Marcel van Buren and Roel Van De Wiele both work in different areas of co-creation. Marcel helps to determine the companies in and from which Gumption should invest and divest. In so doing, he optimises co-creation potential between Gumption businesses. Roel creates an internal culture of co-creation and uses coaching programmes to take cooperation between teams and businesses to a higher level. Together, they offer a unique glimpse into Gumption’s vision of co-creation.
Roel Van De Wiele: ‘We are living through an era of acquisition. The art now is not to make a deal, but to find one. How do you find the ideal investments for Gumption?’
Marcel van Buren: ‘That varies. Businesspeople sometimes come to us with a business plan or a business that they want to grow. In some cases, they have intermediaries who get in touch with us, such as banks and corporate financial advisors. We also look out for opportunities ourselves – for instance to find a complementary partner for a business within the group or to get a leg up into a new market or market segment.’
Roel Van De Wiele: ‘We are living through an era of acquisition. The art now is not to make a deal, but to find one. How do you find the ideal investments for Gumption?’
Marcel van Buren: ‘That varies. Businesspeople sometimes come to us with a business plan or a business that they want to grow. In some cases, they have intermediaries who get in touch with us, such as banks and corporate financial advisors. We also look out for opportunities ourselves – for instance to find a complementary partner for a business within the group or to get a leg up into a new market or market segment.’
Roel: ‘Do prospective businesses need to meet certain conditions?’
Marcel: ‘I have read more than 125 investment files over the past eighteen months. Some of them get dropped because of financial parameters. Another aspect is the business culture – prospective businesses need to be the right fit for us. Before we look at finances, we need to be certain that the people involved and the business itself match the culture at Gumption. That’s why we always start with a DNA test. If things don’t click, there’s no point in entering negotiations. We’re not an investment fund, which is an important distinction with other holding companies. In some cases, something might be an appealing financial investment, but that doesn’t mean that it’s necessarily a good match for Gumption.’
‘There is one other criterion from which we’ll never deviate – there must be no internal competition between Gumption businesses. That’s the most important condition for maximising the potential of co-creation. If you want to join forces for the benefit of customers and partners, you need to work transparently and openly. If you have several businesses doing the same thing, all with an interest in the same customer, people tend to keep their cards close to their chest. This is precisely where Gumption is different. We don’t touch that DNA.’
Roel: ‘What kind of business is Gumption looking for today?’
Marcel: ‘We want to grow in new regions and are keen to grow in those areas in which we already have expertise. Which is why we are looking to the future. What challenges are our customers likely to face over the coming years? The focus is on increasing diversity so that Gumption can bolster the strength of its complementary offerings.’
What challenges are our customers likely to face over the coming years? The focus is on increasing diversity so that Gumption can bolster the strength of its complementary offerings.
Roel: ‘Is Gumption looking for any specific growth?’
Marcel: ‘Our ambition is to double current turnover by 2025. That’s a sizeable challenge, given the current business climate. The number of businesses that we wish to invest in is not fixed. Investing in several smaller businesses takes more time, but a larger acquisition has more of an impact on your business culture. In addition, we also invest in the companies that are already operating in the group. That’s also an important driver for accomplishing our ambition.’
Roel: ‘What are the parameters for divesting and bidding farewell to a business?’
Marcel: ‘Until now, there has always been a single main reason – the business would have more opportunities outside Gumption. It might want to grow internationally, for example. And outside of the Benelux, Gumption does not have the network or financial influence to support that goal. So, it would be better for those businesses to find a financial backer externally. Sometimes those at the top can also be a decisive factor – perhaps they want to stand on their own two feet.’
Roel: ‘How do you see Gumption in ten years?’
Marcel: ‘I see Gumption as a dynamic ecosystem that continues to evolve from one generation to the next. Businesses come in and businesses leave. Shareholders scale back their investment or leave the group. And new shareholders join. The group is in a constant state of flux. That too is one of Gumption’s strengths.’
Marcel: ‘That brings me back to the business culture. How would you describe it?’
Roel: ‘Gumption has an open business culture. It’s an environment in which it’s okay to make mistakes and where there’s great willingness to listen to one another. Gumption’s founders are open to different opinions, which is nice. They give people opportunities. You must have the courage to do that. Here, you’ll be judged on your skills, not your origin or background. The more diversity you have, the more potential you can unleash. That also applies on the shop floor. Gumption’s values are alive within the group, they’re not just hollow slogans.’
‘Co-creation is the point of departure in the culture at Gumption. How can we encourage teams and business leaders to go beyond their own interests? It’s a constant challenge, as people tend to view the world from their own perspective.’
Marcel: ‘That brings me back to the business culture. How would you describe it?’
Roel: ‘Gumption has an open business culture. It’s an environment in which it’s okay to make mistakes and where there’s great willingness to listen to one another. Gumption’s founders are open to different opinions, which is nice. They give people opportunities. You must have the courage to do that. Here, you’ll be judged on your skills, not your origin or background. The more diversity you have, the more potential you can unleash. That also applies on the shop floor. Gumption’s values are alive within the group, they’re not just hollow slogans.’
‘Co-creation is the point of departure in the culture at Gumption. How can we encourage teams and business leaders to go beyond their own interests? It’s a constant challenge, as people tend to view the world from their own perspective.’
Marcel: ‘Is it difficult to change behaviour?’
Roel: ‘For many people, the future is an extension of the past, which is a pity. At Gumption, there is a belief that everyone has the will to work together. We encourage and support collaboration in so many ways. This includes taking people out of a small context and assist them in developing a broader vision. I use several formulas for this, from one-on-one support to group coaching and talks.’
Marcel: ‘What’s the biggest threat to Gumption’s business culture?’
Roel: ‘Routine and business as usual. Continuing to do things the way we always have. We don’t want to do it, and yet we all do it. The cause is echo. If people surround themselves with the same kind of people, they’ll keep on hearing what they want to hear. The greatest enemy is homogeneity. You often find that growth is right there at your feet, but the echo effect means that you can’t see it. Committing to diversity makes it easier to carry out a shared vision. Diversity also determined the shareholders’ choice.’
If people surround themselves with the same kind of people, they’ll keep on hearing what they want to hear. Committing to diversity makes it easier to carry out a shared vision.
Marcel: ‘What is the best method for successful entrepreneurship?’
Roel: ‘Don’t pay too much attention to the scoreboard during the game. If you do, you won’t be playing. If you run your business through Excel, you won’t excel! Business figures are a fantastic aid for navigation. But when you’re on a journey, it’s best to look through the window, not at the dashboard.’
‘When do people perform best? When they need to overcome an obstacle. People move much less when they’re in a comfort zone. The context mustn’t be painful or annoying, but challenging and stimulating.’
Marcel: ‘What is the best method for successful entrepreneurship?’
Roel: ‘Don’t pay too much attention to the scoreboard during the game. If you do, you won’t be playing. If you run your business through Excel, you won’t excel! Business figures are a fantastic aid for navigation. But when you’re on a journey, it’s best to look through the window, not at the dashboard.’
‘When do people perform best? When they need to overcome an obstacle. People move much less when they’re in a comfort zone. The context mustn’t be painful or annoying, but challenging and stimulating.’
Marcel: ‘Does Gumption have enough incentive to make the right decisions aboutgrowth?’
Roel: ‘Yes, I think so. We can organise our own contradictions. No one in the group is afraid to solicit other opinions. Gumption recently brought an external investor on board, for example. Financially, it wasn’t necessary, but, we did it anyway – we are confident that it will benefit the group. It incentivises us to show our best side. With that decision, we avoid the comfort zone. The market situation also keeps us on our toes.’
Marcel: ‘If Gumption were a person, how would you describe that person?’
Roel: ‘A bit of a virtuous rascal. You need to be a rascal to have the courage to run a business. But you need to be virtuous to do the right thing in practice, and to make the right decisions.’
Exchange views on what co-creation could mean for your organisation? We'd love to! Send an e-mail to sales@gumption.be or info@gumption.lu. Or contact marcel.vanburen@gumption.be or roel.vandewiele@abt.be!
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