Tag Archives: London Virtual Address

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.

 

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.

 

Avoiding Obstacles to Your Business Growth.

 

When you start up your business it is one of the most exciting moments in your life.  The future stretches out before you and you have a vision of what you might be able to achieve,  in terms of prosperity for you and your family and the freedom to pursue your own personal and career goals.  Yet building a business is not a simple matter and you will be faced with many choices along the road.  You might, for example, decide that having a business partner would lighten your load and make expansion easier.  Whilst an obvious temptation, it is not always the most effective path.  The choice of a business partner should not be taken lightly.  You need to find someone who has strengths to complement your weaknesses and will add extra dimensions to the business mix.  Very often we choose someone who we just ‘get on with’ but cannot really offer the input you need.  I would always suggest that you hold off on bringing in a partner until you have established the basic business and the search out someone who can add a complementary dynamic.  If you are essentially a ‘creative’ then you should try to find a partner who is more a detail person and vice versa.

Many new entrepreneurs get easily discouraged, they view the business as a goal in itself rather than as a journey to be taken, this means that if your business goes through inevitable periods of slack you start to worry and get despondent.   You need to remember that all businesses have their tough moments and that all successes have some failure along the way.  Always keep in mind the reason you first set up shop, let the vision that drove you to register your company and open for business be a constant guiding light in your daily work.

In this short video we remind you of these essentials business truths.  We have helped many young businesses get though their early stages by providing all the basic office services at a price that fits with the budget constraints of a new enterprise and allows them to focus on the  bigger business picture.

Our Virtual Office News Report Hits a Milestone ’50’

We are very excited that our weekly news report on our Youtube channel has reached #50.  If you have yet to check it out then you should visit our channel

and bookmark it.  This week, for example, we are looking at an amazing new payday app called ‘Wagestream‘  which is backed by Bill gates and Jeff Bezos.  You might not be familiar with this app which is now being used by more than 115000 employees to plan their monthly spend without needing to plug financial holes with expensive payday loans.

Another item in our weekly round up looks at the enthusiasm in the UK for starting your own business.  We highlight the recent research from the Free Agent organisation.  The results show how young Brits are more entrepreneurial than ever with Generation Z full of hopes for their business future.  This is music to our ears since we do love helping young companies get started by providing a wonderful range of business services at our virtual Office’ here on Regent Street.   Having a prestigious but inexpensive central London base is so vital for a business start up  and Hold Everything has an enviable record in helping a vast range of businesses over the last 30 years.

Have a great week.

 

Benefits Of Using A CRM System

At Hold Everything, the virtual office company based on London’s prestigious Regent Street  we have been using a CRM System to help run the business now for a period of time. Currently we are having our own bespoke system written to manage some areas of our business which the current system doesn’t offer.

What is a CRM system?

CRM stands for Customer Relationship Management. This is a computer system that facilitates the collecting, organising and management of customer information which essentially creates a database for you and your company. CRM systems are designed to streamline your processes within your organisation and can be an extremely important management tool.

How can a CRM System help your business.

  1. Help Improve Customer Satisfaction

All communication with the client/customer can be recorded onto the CRM system, this will help you provide a better service for your clients as you’ll be able to quickly retrieve all activity concerning that client. Also, by using this strategy, all productions such as servicing, marketing and selling your products or services to your clients can be conducted in an organised and systemic way.

  1. Improvement of Customer Retention and Revenue

This is a golden CRM benefit, by using the data collected on your system your team can proactively address any at-risk/soon expiring accounts as well as reaching out to satisfied customer/clients to help encourage repeat purchases and upselling of existing services. You’ll be improving your customer retention rates – which should translate into increased revenue for your business.

3. Maximise your Business Performance

By using a CRM system this can help maximise your business performance by increasing your up-sell (where you are offering customers an upgrade relating to their purchase) and cross- sell (offering complementary products/services that are in the same category of their purchase) opportunities. By using both sales strategies which can be easily conducted with a CRM system you will have a complete understanding of their wants and needs as all the client information will be easily accessible and viewable and you can be prompted on when to use your sale techniques.

  1. Improvement on Internal Communication

By having a CRM system in place this helps build up better communication within the organisation. Sharing the customer data between departments will encourage and enable you to work as team. Each employee will have access to answer the customer/client questions involving their services or products. A major benefit of this allows a healthy, functioning, well-informed team which overall will help increase the company’s efficiency and offer a better service to your customers.

  1. Optimise Your Marketing

Another brilliant CRM benefit is allowing you to optimise your market by using a more targeted and cost-efficient marketing programme. By understanding your customer/clients needs and behaviour you will be able to identify the correct time to promote new products/services and promotions. The CRM system will help you divide your customers and give you an insight into which are the profitable customer/client groups to market at. By using the data provided you will be able to set up relevant promotions for each client group and execute them at the correct time. By optimizing your marketing resources in this manner will give you the best possible chance of increasing your revenue.

  1. Valuable Insight to your Organisation

And lastly, want to know how well your organisation is doing? As a CRM system stores all information in on centralised place this makes it a lot easier to analyse your performance. By being able to pinpoint certain information e.g. revenue generated leads/new clients you will be able to generate reports which show this information in clear and precise way. By being able to report data this will help you make more effective business decisions and improve your revenue in the long run. Which surely is the aim of the game for most?!

As mentioned, you can clearly see there are range of CRM benefits that will improve your business whatever size it may be.

So where do I find a CRM System? 

A simple internet search via one of the major search engines will bring up a multitude of choices from companies such as:-

https://www.salesforce.com/uk/

https://www.act.com/en-uk/

https://www.hubspot.com/

https://www.zoho.com/

As with all internet usage there are comparison website that cover the top 10/15 CRM systems, below is one link but the internet searches brings up others options as well.

https://financesonline.com/top-15-crm-software-enterprises-analysis-leading-systems/

Alternatively, you can get a system written just for you.

Rafi Galibov of The Positronic Group says:

‘If you need a CRM, but none of the ‘off the shelf’ CRM’s do exactly what you need, you should contact a developer who can create a ‘bespoke’ CRM for you, one that does exactly what you need to start with and can grow with you and your company.’

The Positronic Group – Bespoke Database Developers using Servoy to create cross platform solutions.

So CRM or no CRM for you – off the shelf or bespoke.