True North: Northern Star — Open Media

Open Media is an out-of-home advertising company that brings brand stories to life on large-format, premium digital screens in 12 cities across the UK.

As a B Corp built on a commitment to three core pillars — people, planet and place — Open’s purpose is not only embedded in its foundation, it’s also shaping their future as they push boundaries for brands, spaces and local communities.

Its founder and CEO, Mike Smith, tells us more.

Putting people first

I’m an entrepreneur by trade, starting my first business when I was just 21. Over the years, I've had ventures that have failed and others that have been more successful. But along the way I've learned a lot about what works for me as a leader, how Open should operate and most importantly, how to stay true to your purpose.

The number one priority for me is ensuring that when you've built your foundations and are on stable ground, you reinvest any capital into your workforce. People are the most important thing for any business and at Open, we’re committed to creating opportunities for our people to grow and fostering an environment where they feel supported. 

My leadership style is all about putting people first — I want to understand how my team is feeling and to lead with empathy, which I believe creates an environment for them to thrive. That's how people grow. That's what fuels collaboration. And that's where true innovation comes from. 

I also always prioritise hiring people who can do the job better than I can. I might be the leader, but I can’t do every job, so it’s important to bridge those gaps by bringing in talented people who have those missing skills. This also helps free up my time to focus on growing the business in line with our core vision and purpose, which over the last two years has been centred on our journey to B Corp certification. 

The success of this approach is reflected in our high employee retention rate and the fact that when people do end up moving on, they always go on to bigger and better things. I completely understand that people aren’t going to be with Open forever, but if we can play a positive part in their career journey then that's “job well done” in my opinion.

Supporting the planet and the places we operate

When it comes to the planet, impact and emissions reduction are at the top of the global agenda and sustainability is key for every business. We’ve invested heavily in this area and as a result, are winning new business and partnerships with other purpose-led organisations who share our values.

As for our third pillar, ‘Place’, we think it is so important that we give back to the local area in Liverpool where Open’s story began. But as a growing, national business, our commitment goes beyond just there. We’re tuned into all the places we operate in, scaling our blueprint of support across all of our locations to give back to those communities.

All of this adds up to Open being the first B Corp certified media owner in the UK and Europe. It was a challenging accreditation to get, but a lot of our work already aligned well with the B Corp way of doing things. I’ve also learned so much on the B Corp journey and am really committed to helping others achieve that same certification.

B Corp matters because it builds trust. It shows that you’re not just talking the talk but actually walking the walk. And because it’s an accreditation you have to keep getting recertified for, it encourages you to keep pushing and improving.

Why we remain independent and owner-led

We don’t just operate with these pillars so that we feel good about ourselves. We believe that purpose is an intrinsic driver of good business performance. Since launching in 2015, we’ve grown our estate ecosystem and revenue significantly, with an expanding fleet of more than 40 premium digital screens in city centres across the UK today — from Newcastle to Plymouth. We’ve also expanded our team, now operating with 23 people working across Liverpool, Manchester and London. 

We're also proud to be independently owned and owner-led, which is rare in an industry largely dominated by a few international companies. This independence brings incredible advantages in terms of flexibility, agility and the ability to make the important decisions ourselves — which is key when you’re an SME that’s constantly changing.

My advice for purpose-led businesses

1. Lead with empathy: The time has passed for ‘old school’ leaders who dictate rather than collaborate. Lead with empathy and seek to understand how people are feeling, because it’s important to remember that everyone’s coming at things from their own unique angle.
2. Bring your team with you: When we were going through the B Corp process, we made sure it was something the whole team could get involved with, creating an internal taskforce with people from across the business, at all seniority levels. It’s a great educational piece and can apply to any strategy, because you need your team behind you when you’re undergoing significant strategic shifts.
3. Reinvest, reinvest, reinvest: When you’re winning — whether that’s landing your first contract, deal, tender or something else — make it a priority to keep reinvesting. In your team, in the communities you work in, even in your office spaces. Create an environment that people not only want to work in, but for people to want to work with you.

To join a network of owner-led, independent, purposeful businesses like Open Media, sign up to True North.