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Some Great Tips To Expand Your Small Business

We all look at our small businesses and think ‘how can we develop in a good, strategic way?’  A very interesting article in the entrepreneur site has some great suggestions for all of us.  Here, then are 5 top tips from a world acclaimed source.

1. Develop a company culture.

A strong company culture is what will keep your small-business team together during times of exponential growth. If you’re not sure where to start, ask yourself and your team questions such as:

Why does our company exist?

Why do we do what we do?

What does our company believe in?

What are our values?

Where do we want our company to go, i.e. what’s our company’s vision?

When employees feel connected to your company, they’ll be more likely to stick it out through uncertain times. Plus, a strong company culture can actually attract new customers to your business, so be consistent with it and splash it everywhere, including your website, social-media platforms, marketing materials, etc. When your target audience can see the values behind your company, they can connect with your business on a deeper level.

2. Hire the right people. 

The hiring stage is critical to growing your business successfully. It’s important to take your time and find the right people for the job. Do so and things will go swimmingly. Hire the wrong people, and all of your hard work will come crumbling down. To avoid the latter fate, consider recruiting people based on their technical skills and experience. You should also determine if they’ll be a good fit during this time of growth. For instance, you could ask a candidate how they interpret your company’s vision to see if they’ll mesh well with your team. Startup life isn’t for everyone, so find employees who will be eager to take on the challenge.

3. Focus on innovation … in the right places.

When expanding your small business, you might be tempted to spend a bunch of money on improving your product or creating/offering more products. Instead, focus on innovation in other areas. As one example, try innovating your onboarding experience or adopting new technology like live chat to scale your customer service, as with this savvy Petplan campaign. Innovating your current processes will take up less of your resources, and it’s critical when growing your customer base. Once you’ve achieved more stability, then you can think about introducing new products.

4. Build brand recognition. 

When a consumer sees your logo, advertising campaign, product packaging or slogan, you want them to be able to recognize it as your company. This all comes down to building brand recognition. Take Nike’s Iconic “Just Do It” slogan. When consumers hear that phrase, they instantly know whose behind it. Your small business might not be able to reach Nike-levels of immediacy, but you can still work to become a well-known brand among your target audience. An easy way to do this is to start networking more often on social media. The more times consumers see you online, the easier your company will be to remember.

5. Don’t forget about existing customers. 

Many small-business owners focus too much on getting new customers and not enough on keeping the ones they already have. In fact, according to statistics from Small Business Trends, just six percent of small businesses focus on customer retention. To make your existing customers feel valued, consider creating a satisfaction survey that allows you to gain insights on what your customers love about your business currently, what could be improved and what they’re looking forward to regarding your expansion. You can then use this feedback to improve your business and reduce customer churn. After all, customers who are happy with your business will be more likely to spend more money and recommend you to their family and friends.

 

Some Top Tips For Your New Start Up Business

We are living in changing times and change always brings opportunities. To day we look at just a handful of business suggestions that would reflect huge moves in our society this year. You certainly would have noticed how many restaurants are now promoting Vegan food and how sections of your local Tesco are giving shelf space to milk that comes from oats rather than cows. We have seen our streets brought to a standstill by Extinction Rebellion protestors and school children ‘bunking off’ to protest about climate change. There is certainly money to be made in all this.

Maybe you have seen the new style perfume shops blending petals and spices to create ‘bespoke’ aromas to bring out your personality or skin care products that have been genetically engineered to work miracles on your complexion. We have seen ‘disruption’ in public transport from Uber and in accomodation from Air BnB  – fortunes are being made in these new sectors.  Watch our short video to get some inspiration to make 2019 the year you hit the entrepreneurial big time.

Tips to Avoid Legal Problems in Your Small Business.

We all know that law firms make lots of money from litigation and one of the most profitable areas is business law. This ranges from everything from libel suits (defaming a competitor) to mishandling customer data. Fortunately most of this expensive problems can be mitigated by a combination of common sense and correct insurance cover.

Follow our tips to avoid expensive legal costs.

Here at Hold Everything on Regent Street we have heard many stories over the years from companies who have fallen foul of legal guidelines, be it HMRC or for data protection failure. Even simple things like GDPR compliance need taking seriously to avoid costly solicitor’s letters.

If you are setting up a new business it is well worthing appointing a business solicitor to be on call for any troubles that might arise, prevention is an excellent strategy in this area. We are always here to discuss business problems with our clients and if we don’t know the answer ourselves we can certainly put you in the right direction.

How to Make the Most of Your Morning Energy and Be More Productive.

Did you realise you could be letting the first few moments of your work day affect your productivity?  It’s true, research has shown that many of us tackle rhe wrong jobs in the morning and then run out of important energy later on in the day.  For example, many people avoid doing difficult and annoying tasks when they start their working day.  There is an old saying that you should ‘eat a frog to start your day’ in other words get the nasty stuff done when you have lots of morning energy.  Don’t waste your first 30 minutes reading all your email, just glance through and prioritise for later in the day.

Many of us think that it is time efficient to multi-task but recent research says this isn’t the case.  It is much better to start your working day on one important project rather than flit from one to another.  Importantly we should not let negativity spoil our super-productive mornings.  It is easily done, holding on to the previous night’s aggravations or a difficult start with the kids.  It doesn’t matter whether you work in an office or work remotely, you must still avoid becoming negative.

One of the worst energy draining things you can do is to schedule too many early morning meetings .  These are basically ‘low energy’ events that are best scheduled later in the day when you have used up your morning’s energy most efficiently.  And last but by no means least, try to get some natural daylight by sitting yourself near a window.  Oh, and finally, don’t overdo the coffee before 11am it’s not good for you.

Climate Change Affects London Business Too.

We have all been watching in amazement over the last few weeks as the young Swedish schoolgirl Greta Thunberg lectured world leaders on the environmental disaster facing all of us.  So in our latest weekly news report we have looked at recycling and the problems we face in our capital.  Waste collection giants Biffa have been complaining in the media that labelling is inconsistent and incoherent and discourages us from recycling enthusiastically.  Our very own Mayor Sadiq Khan is pushing his heating cashback scheme to persuade London businesses to upgrade their boilers and cut back on the pollution they produce in our industrial zones.

At our virtual office centre here on Regent St we are aware of the pollution from an endless flow of buses and taxis along Regent Street.    We do, of course, keep many business workers from making a daily commute to Central London by letting them work from their home office and let us be their face in London’s West End.   Since we work for many overseas companies providing them a virtual office service we also help them save their carbon footprint in travelling to London unnecessarily.

Nobody knows just how serious the climate change situation is, there are far too many agendas being promoted in the media but it is certain that it is in all our interests that London remains a clean and unpolluted working place.