Video Tomorrow’s Company interviewing: Peter Taylor, CEO, TTP Group

As part of the newly released report UK Business: What’s wrong? What’s next? Tomorrow’s Company is interviewing a number of senior business leaders to get their perspective on purpose and values, relationships and the long term and how these apply to their business.

Despite being a plc, TTP chose the name partnership because it reflects the relationship not just amongst the people in the company but also their relationship with the clients. Unlike the usual model where the company’s interests are not aligned with the clients’, TTP saw the opportunity for a new model where they aligned their interests with the clients’ by investing in intellectual property.

TTP’s unique ownership and governance model translates into a company owned and controlled by the staff. Peter Taylor argues that this unique model underpins the culture of TTP as being in it together and one big team. Having great people and giving them the freedom to excel is therefore the core ingredient for the success of the company. This is in turn encapsulated in the ownership model of the company.

Peter explains that by having control of their destiny, TTP has actually thrived during recessions. During the early 2000s recession, the culture and structure of the company allowed TTP to recognize the value of their assets and people so as to keep the team alive and reap the benefits when things returned to normality.

Finally, Peter argues that given TTP’s fundamentally entrepreneurial culture, the company may risk in the opportunity but they are good at managing the downside. When there is a true lack of fear of failure and a no-blame culture then people will not fail, or fail less often.