How to set up and run a small business

You are here: Home » Run a Business

Run a Business

International bodies seem to be falling over themselves to upgrade their growth forecasts for the UK. The IMF recently hiked its predictions to 2.9% this year and the OECD to 3.2%. This is all good news. But what does it mean for business owners?

An interesting phenomenon occurs as economies race out of deep recessions; there is a rush for new and innovative products as buyers and consumers seek radical new solutions. This comes at exactly the time many companies are still in ‘recession mode’; blinkered, inwardly focused and slow, so creates a great opportunity for nimble and brave businesses. Continue…

{ 0 comments }

The Summer holidays are fast approaching and if you are an employer, you may soon be inundated with holiday forms from your workforce, as staff begin to prepare for their holidays.

Although a lot of businesses have a workforce structure that enables adequate cover during holiday season, there are some that struggle due to the lack of staff and or financial resources to provide cover, during the holidays.
Continue…

{ 0 comments }

Business development is much more than just about marketing, sales, pitching, online wizardry, mailings, advertising, branding, social media strategies, glossy brochures, discount deals, promotional gimmicks or special events.

Every single thing a business does has a potential impact on how your business performs. Following these 10 business development truths, will help your business to grow and give you an edge over your competitors.
Continue…

{ 0 comments }

With an estimated 2.1 million businesses based at home (a number which is growing fast), many of them operating in a family environment, more and more small business owners are torn between concentrating on a successful career and meeting the needs of a family.

Many small businesses are successfully started up from home, and there are huge advantages of doing this while you get your business off the ground.

The biggest benefit for a small business is that you do not have to fork out on the cost of premises in the early days. You also save huge amounts of time in looking for premises. Another advantage is that you can create more time to work on your business because your commute will be taking a few steps from the kitchen!

But the downsides are huge too. Continue…

{ 0 comments }

There’s no doubt that entrepreneurs need spark, grit, creativity and a huge amount of drive and commitment. However, adversity can be a helpful companion to an entrepreneur: it may be the catalyst for that light-bulb moment or it may create resilience. Continue…

{ 0 comments }

There are a few certainties in life; death, taxes and skills shortages. However you’ll notice that some companies suffer more than others when it comes to hiring and keeping great employees.

So, how can you be one of the smug employers that attracts and retains great people when everyone else is struggling? And how can you keep the down costs of recruiting staff?
Continue…

{ 0 comments }

If you can develop a better understanding of the selling process, you’re more likely to make those all-important sales. And by knowing more about the seven specific steps you need to take before you can close the deal, your sales efforts will be more richly rewarded.

Here’s what you need to know about the seven steps of the sale;
Continue…

{ 0 comments }

The Brompton Bicycle is a great example of how a simple idea can be transformed into a global business. Today, the company behind the bike is a well-known British business success story, but it wasn’t always the case.

Back in the 1970s, having looked at the folding bike designs already on the market, Brompton founder Andrew Ritchie, decided he could do something better.
Continue…

{ 0 comments }

Most small business owners have an opinion on networking. For every person who enjoys and values it – you’ll find another who visibly shudders at the mere mention of the word.

But why does networking seem to polarise small business owners? Is it a massive untapped opportunity, or is it an uncomfortable evening in the company of strangers and cocktail sausages?
Continue…

{ 0 comments }

So you want to sell your business? The place where you’ve spent more time than with your family; invested money which you’ve sometimes had to borrow in order to expand or buy new equipment; given your heart and torn out your guts; worked anywhere from 60 – 80 hours a week, maybe more; tackled a recession and seen a chink of light at the other end.

Now think of decorating a room. Any professional will tell you it’s 80% preparation and 20% finish. I wouldn’t go quite that far, but the planning is all important when it comes to selling. Continue…

{ 0 comments }

When you are running a business you will come across and need to interact with a raft of various people. If you can quickly build up a rapport with different types of individuals things will be a lot easier for you. This is especially true when it comes to meeting and engaging with your all important customers.

But building customer rapport doesn’t mean that you change your values, beliefs, or your hairstyle! It simply means you need to find some commonalities between you and the customer that you can use to help them feel at ease. Continue…

{ 0 comments }

How can you be at your most efficient each day? What efficient or inefficient routines have you grown accustomed to in your everyday life?

Improving personal efficiency is not about forcing yourself into a daily regiment of torture, it is about creating awareness of what you want and discovering a few natural steps that lean more in the direction of where you want to go.
Continue…

{ 0 comments }

Culture is the intangible glue that binds us. It shapes attitudes and behaviours. It generates tone and identity. And, it is the lens through which we make-meaning of the world around us, and our place as an organisation within it.

Building a culture of innovation in your business brings many benefits, including helping to give you a competitive advantage and making it easier to recruit new talent. Continue…

{ 0 comments }

Running a business means you always have plenty of problems to overcome and issues to deal with. It’s part of the fun of being in business, but when you’re busy it can be hard to be creative and to find innovative solutions.

Your brain is always coming up with solutions to problems and providing a constant stream of innovative ideas.  But if you aren’t tuned in and ready to receive them as they bubble up from the depths of your subconscious and surface in your conscious – they will quickly disappear again? If you need solutions, it is vital that you’re in the right state of mind to receive them.

When trying to be more creative, there is a technique called “dunking” you can try. It’s an approach inspired by the brilliant engineer Thomas Edison whose inventions truly changed the world.

Continue…

{ 1 comment }

Most organisations and their leaders acknowledge that their reputation – establishing it, defending it, building it – is critical to their success in today’s always-on, connected and often very transparent world.

Reputation is really created by two things: what you say and what you do. This is heavily influenced by your approaches to brand management (what you stand for, what you promise, the products and services you provide) and talent management (the people who design, manage, and deliver the products and services you provide).
Continue…

{ 0 comments }

One of the beautiful things about running a small business is that it’s so much easier to motivate your staff.

As the leader of a small team, you will have the opportunity to get to know exactly why each employee is working for you – and use that knowledge to press the right buttons and positively influence productivity.

Managers of large companies can’t do that, especially when their hands are tied by daft schemes “sent from head office”. You can therefore use the advantages of a well-motivated team to sharpen your business’s performance against your bigger rivals.
Continue…

{ 0 comments }

Free publicity is a great way to spread the word about your business. If you can get your business featured regularly in the newspapers and magazines your target audience reads, it brings your business to the attention of potential customers, and at no cost.

Another advantage of being featured in articles written about your business is that editorial coverage gives you a huge amount of credibility. It’s an independent trusted person talking about your business – the total opposite of an advert, where you are delivering your message.

The good news is that getting free publicity for your small business isn’t difficult if you know what you’re doing. Continue…

{ 0 comments }

As a small business owner you may not have lots of money sloshing around. You know your staff are your most important asset, but you may not be able to afford to give them a pay rise. So how can you be an attractive company to work for, motivate and reward staff and promote loyalty without increasing your pay bill?

Believe it or not, introducing employee benefits may be the answer. There is a range of benefits which won’t be a cost to your company and will actually provide savings by reducing your tax liability. These are known as salary sacrifice schemes.
Continue…

{ 0 comments }

Starting a new business is hard work, and one of the toughest tasks is to generate a good flow of sales. You need sales to bring in the revenue to cover wages, pay overheads and invest in growing your business.

As a new business, the first sales are also vitally important as they prove that there is a demand for the product you are making, or the service you are offering. Once you have made your first sales, selling more is pretty simple as long as you can understand the process and the numbers.
Continue…

{ 0 comments }

There’s nothing more demotivating when you’re doing your own PR than spending hours getting the perfect press release put together… only for it to be completely ignored by journalists.

Has this happened to you?
Continue…

{ 0 comments }