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Why Your Small Business Cannot Afford To Ignore Micro-Moments in 2017

Why Your Small Business Cannot Afford To Ignore Micro-Moments in 2017

‘Micro-moments’ are the talk of 2017 within the digital marketing community, and your business should be taking note. Labelled by Google, micro-moments refer to the hundreds of interactions we (read: your customers) make each day with our mobile devices. Google believes that we “are seeing a fundamental change in the way people consume media”. These include actions such as checking the time or weather forecast, or using your phone as an alarm clock. How many of us wear watches but generally reach for our phones to check the time? I’d bet that I’m not the only one. Then, there are ‘those’ moments. The I want-to-know moments, I want-to-go moments, I want-to-do moments, and I want-to-buy moments—that really matter. These are what Google are referring to with the phrase ‘micro-moments’, and th... »

5 Ways You Can Increase Client Spend

5 Ways You Can Increase Client Spend

Every product or service a business provides has a price associated with it, which represents what must be paid by a client to buy a product or benefit from a specific service. The price represents the sale value for that item. However, if a client buys more than one thing at the same time, then the sale value for that particular transaction is the sum total of all items purchased at that point. Below are my five key increasing client spend strategies: Strategy 1: Increase your prices This might seem a bit obvious so is easily overlooked, but by raising your prices you increase your average sale value. Clients will be paying you more for the same products or services every time they buy from you. This isn’t always an easy thing to do in reality and there may be market forces at play that p... »

How to Respond When a Lender Pulls The Plug

How to Respond When a Lender Pulls The Plug

There is nothing more frustrating as a busy small business owner than an unforeseen cash-flow problem causing your lender of choice to tighten the purse strings, or worse still, pull the plug. In the current climate of uncertainty, lenders are understandably cautious about lending money to businesses that lack a positive trading history or those that have breached their bank facilities previously. While banks will not necessarily want to pull any existing finance arrangements in these situations, they will probably not want to extend them. Your relationship with the lender Often the reason for a bank’s reluctance to lend more finance comes down to the nature of its relationship with the lender. If you’ve failed to communicate in an open and honest way about your performance and taken... »

Breaking Through The £100,000 Plateau

Breaking Through The £100,000 Plateau

Working with business owners, I’ve spent the last seven years helping them unlock new growth in their businesses. One pattern that I’ve seen time and time again is that many businesses get stuck at very predictable revenue levels. On the journey to £1m in turnover, the big plateaus many get stuck at are £100,000 and £500,000. Although each plateau presents different challenges, the good news is that the challenges at each one tend to be quite predictable. In this article I’m going to talk about the most common challenges that business owners experience as they approach the £100,000 mark, and, most importantly, how you can overcome or avoid them to quickly break through that revenue level. Keep It Simple As a business owner it is very easy to get overwhelmed by the seemingly endless list of... »

4 Ways Small Businesses Can Better Meet Customer Expectations

4 Ways Small Businesses Can Better Meet Customer Expectations

Every business has its own unique challenges; a food cart entrepreneur has to find the perfect location and a fashion boutique owner needs to stay on top of trends to stock up on the latest must-haves. Yet there’s one challenge that all enterprises have in common: to fulfil their customers’ needs. There are many ways a company can do this, but it often comes down to one key imperative – making sure that consumers have choices throughout the entire shopping process, from selecting an item and paying for their purchase, right through to returning it if they choose to. Through more than 50 years of experience working with small businesses, we have identified four ways to help small businesses fulfil the demands of their customers. By following our tips, there is an opportunity to improve rela... »

Save Your Business Time and Money In 2017 By Becoming ‘Smart’

Save Your Business Time and Money In 2017 By Becoming ‘Smart’

IoT isn’t just a myth anymore, it’s everywhere we look. Think about it, our mobiles, our watches, our cars; even our fridges are now capable of connecting to the internet. Within this network of connected objects, there must be some smart devices that will allow our businesses to save time and money, right? Like the Internet of Things, business is evolving every day; changing and adapting as we seek out more efficient processes and equipment to help us maximise profit, minimise expenditure and vastly improve our productivity. So what IoT applications will help your business thrive? Here’s my favourite three. 1. Smart machinery If we’re honest, we can be as creative as we like when it comes to IoT. Almost any business application can be monitored remotely, without the need for human interve... »

How Ecommerce Businesses Can Improve Their Online Reputation

How Ecommerce Businesses Can Improve Their Online Reputation

For small businesses, building a good reputation can help them to go from strength to strength. Conversely, gaining a bad reputation can lead to a lack of custom and ultimately, the failure of the business. Therefore, it is important for a business to use all the methods available to them to positively enhance their profile and their reputation. This is particularly true of an ecommerce business, as being perceived as a secure site where the customers’ personal and financial information will be safe is paramount to their success. Hence, when considering ecommerce sites, it would be fair to say that attempts to make the site as secure as possible will also help to positively boost the company’s reputation as well. The good news for small businesses is there are some relatively simple and co... »

Harnessing Freelance Talent During Uncertain Times

Harnessing Freelance Talent During Uncertain Times

A recent poll by the CBI shows investment in the UK economy from large companies could reduce as Brexit approaches and confidence falls. The headlines are focused on the impact of reduced investment from corporations, but there is another view, which shows there is a continued and increasing importance placed on the contribution small businesses make to the UK’s economy. The 5.4 million small firms in the UK represent 99% of all businesses in the UK. These small businesses quietly, consistently contribute to the UK’s GDP, and they employ more than half of all private sector workers. In short, they are the unsung engine room of the UK’s economy. So, as Brexit continues to threaten to reduce the contribution from larger corporates, small businesses need to continue to grow ... »

Company Hangover: How Liquidation Could Help Your Business

Company Hangover: How Liquidation Could Help Your Business

Many directors see liquidation as the death knell of their business, yet by changing our view point slightly, we can get a lot more from the whole process. Take a deep breath and have a long, good look at your old business – this is the beauty of liquidation. You get breathing space, something you probably haven’t had in a while. Liquidation can be a crucial part of a restructuring process and could mean you go on to a very successful business career. Before we get into the guts of this, I would like to say that if you have a decent agent handling your liquidation, this should all be covered by them. They will oversee most of this to make sure it’s all within the law. As with most things, it is a lot easier if you do these BEFORE the liquidation is in place. A change of view Li... »

Brexit Means Brexit: Business Owners React To News UK Will Leave The Single Market

Brexit Means Brexit: Business Owners React To News UK Will Leave The Single Market

Prime minister Theresa May has today confirmed speculation that the UK will leave the European Single Market when it leaves the European Union. Speaking at Lancaster House in Westminster, May said the UK “cannot possibly” stay in the market, as this would mean “not leaving the EU at all.” Established in January 1991, the European Single Market guarantees the free movement of goods, capital, services, and people within the EU, and gives UK businesses unrestrained access to over 500 million customers across the 28 EU states. In response, May said that the UK will seek to get “freest possible trade” with Europe, while also pledging to guarantee the rights of EU nationals living in the UK. Here, UK business owners, and those in the space, react to the news. “It has reas... »

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