Showing posts with label small businesses. Show all posts
Showing posts with label small businesses. Show all posts

Friday, 11 November 2016

Event: Are you making a living or changing the world?

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We held our November event last night at IndigoBlue’s wonderful offices in Little Portland Street. We’d like to say a big thank you to our host for an engaging and vibrant event in such a lovely setting.  Thanks also to all our guests.

Topic: Commercial viability.

After a year’s trading, the entrepreneur in our hot seat wanted to review their business. This complex topic involved a tension between a social mission and commercial viability in the future. The discussion was focused on three main themes: identifying your client base, exploring your motivation and re-articulating the remit of your business.

Questions raised by the group helped to clarify our hot seat’s thinking: Can a limited company also be a social enterprise? Is it better to stick to the market you know and understand when other markets might be more accessible? Do you want to make a living or do you want to change the world?

Key insights included:

- Identify the fear and value factors – what do clients stand to lose by not hiring you? What will they gain if they do?

- Consider broadening your remit and expanding your target market(s).

- Define what you want to achieve and why, at the most basic level, then build up from there.

- Work with what you have.

- You can’t do everything. Identify your target market and focus on that market – nothing else!

If you would like to take part in a similar discussion or have an issue you would like to talk about, please join us at a future event or volunteer to be in the hot seat yourself. Please leave a comment below if you have any insights into this month’s topic!

Next Event!

Our final event of the year will be at Devereux Chambers on 14th December. If you can’t make that date  our schedule for 2017 is already up on the website so take a look.

Please comment below with your ideas and advice for our entrepreneur. We always love to hear from you!

Wednesday, 9 November 2016

Five Financial Tools No Small Business Owner Should Be Without

Click here to see our membership packages or here to subscribe to our mailing list. 

Our next event will be today at Indigo Blue on 9th November. The topic will be 'Having established demand and support for our product what else should we do to ensure commercial viability?" We hope to see you there!


1. QuickBooks. Ask the internet about finance and accounting tools, and QuickBooks comes up again and again as a top pick for small business owners. Their accounting software provides a comprehensive view of your company’s financial situation and helps you to run your business. You can use QuickBooks to track your business’s sales and expenses, view financial statements, pay employees and vendors, and more. It can connect to thousands of accounts, including PayPal and your business bank account. Plans range in cost from $10 to $24 for the first six months and $13 to $40 per month thereafter, plus a 30-day free trial.

2. GnuCash. This straightforward, simple approach to bookkeeping is ideal for small businesses. It was initially conceived as an open source alternative to apps such as Intuit’s Quicken. It’s available for a range of operating systems, including Linux, Android, Windows and OS X. GnuCash is noted for its flexibility and can handle invoicing and credit notes, accounts payable and receivable, and some payroll features. And best of all, it’s free!

Get a free download from TechRadar here.

3. NCH Express Invoice. If you have fewer than five employees, you can use NCH Express Invoice for free without time limits or other restrictions. With versions available for PC, Mac, iPad and Android, it is designed to easily create invoices, quotes and orders, to automate recurring ones and to send them via email or fax. It can produce a decent range of reports and there is a front-end paid service if the free software doesn’t have the range of services you’re looking for.

4. AdminSoft Accounts. This is a genuine piece of freeware – rare in this day and age – without adverts, bundled software or ulterior motives. More than 300,000 people use the software which provides a complete money management toolkit for small business owners. It can handle invoices, statements, remittance advices, stock control, purchase orders and budgeting, as well as some HR functions. Its default is pounds sterling but it can handle a range of other currencies as well.

5. Wave. With more than two million users to date, Wave was specifically created for use by small business, indie contractors and sole proprietors with less than ten employees. The free and easy to use accounting software platform lets businesses track sales, pay customers and employees, manage invoices and much more. They also recently added free personal finance software to allow owners of small businesses to manage all their finances in one place. The software is available as a download on the website. Its invoice and receipt-tracking apps can be downloaded from the Apple store.

Please comment below with your favourite financial tools and advice. We always love to hear from you!

Thursday, 3 November 2016

Five Things That Successful Entrepreneurs Do Before Breakfast

Click here to see our membership packages or here to subscribe to our mailing list. 

Our next event will be at Indigo Blue on 9th November. The topic will be 'Having established demand and support for our product what else should we do to ensure commercial viability?" We hope to see you there!


1. Wake up early. Tim Cook, Richard Branson and Jack Dorsey are famously early risers. By getting up early, before anyone else, you minimize potential distractions and can focus your time on priorities, rather than the spontaneous crises that naturally arise throughout the working day.

2. Exercise. Vogue editor Anna Wintour plays tennis every day before work. During her time in office, Condoleezza Rice, former US Secretary of State, would get up early six days a week to make room for her morning workout. Not only does this help you to fit in exercise before it has a chance to be squeezed out of your schedule, it also helps to focus the mind and lift your spirits before a long day at work.

3. Drink water, instead of coffee. A 2012 study by the University of Connecticut suggested that even mild dehydration could cause difficulties with concentrating. Water helps you to feel more alert, rehydrates your body and kickstarts your metabolism. Huffington Post founder Ariana Huffington starts every day with a glass of hot water with lemon.

4. Catch up on the news. Keeping tabs on what’s going on in the world is important so that you know how it will affect your business and to develop solutions. Do this before you get to the office, not before. Online news and 24 hour news channels mean that you up-to-date news that you can actually use is right at your fingertips.

5. Check and answer emails. According to a survey conducted by Robert Half Management Resources, around 50% of executives start the day by checking their emails, compared to just 39% of entry level employees. This allows them to focus on more important tasks throughout the day. Also, it can help with organising their day and ensures that their emails are towards the top of recipients’ inboxes when they get into work.

Read more:



Check out Laura Vanderkam’s successful book: “What the Most Successful People Do Before Breakfast: A Short Guide to Making Over Your Mornings - and Life” - https://www.amazon.co.uk/dp/B00AWFEATU/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

Please comment with your own thoughts on morning routines. What do you do in the mornings that helps you to be a more productive individual? We always love to hear from you!

Wednesday, 26 October 2016

Ten Tips for Small Business Owners

Click here to see our membership packages or here to subscribe to our mailing list. Book for our next event here.

Our next event will be at Indigo Blue on 9th November. The topic will be “having established demand and support for our product, what else should we do to ensure commercial viability”? This should be a familiar question to most small business owners. Once you have an idea, how do you put it into practice? What sets your product apart from others? What makes it unique? How are you going to communicate with your target market?

Take a look below at our ten tips for keeping your small business on-track, innovative and customer-focused.

1. Have specific goals. Break your big goals into small, measurable ones that are easier to obtain. Kn0w what you want, how you’re going to get it and how you’re going to measure success. This will keep you and your employees on-track and focused.

2. Be personal and tell stories.

3. Think carefully about layout, design and photography. Unfortunately, appearance does matter.

4. Do your own PR. People want to hear from you. Make it personal. Tell your story in the way you want it to be told. No PR firm is going to be as passionate about your product as you will.

5. Logistics are key. Customer expectations today have been heavily influenced by companies like Amazon, Netflix and Uber providing products and experiences almost on-demand, smoothly and intuitively. It’s no longer merely about offering the right product, you need to offer the right delivery service too.

6. Free shipping. Customers would rather that the price of the product include the extra cost.

7. Stay networked.

8. Bloggers are your friends. Working with influencers, bloggers, reviewers and journalists is important. This maintains a steady stream of referral traffic from your site, and establishes your product as unique and different. Each influencer will provide a different perspective on your product but also ensures that you target markets in which your product will be well received – they’re not going to promo something they don’t like, unless you’re paying them a lot of money.

9. Listen to your customers. Honest customer reviews provide the best feedback. Make sure you know what your customers like and dislike – respond to those comments and make changes. This will develop brand loyalty because your customers will feel valued. Your customers are the ones who will use the product so let them be your guide.

10. Use social media. It’s free! Everything you need to promote your product can already be found on your laptop, phone and/or tablet from video editing software to apps for managing your social media presence.

Find Out More

10 Things Your Employees Expect You to Know How to Do to Lead Them and Run a Successful Business - http://www.inc.com/thehartford/ten-things-your-employees-expect-you-to-know.html


6 Smart Budgeting Tips for Small Business Owners - http://www.businessnewsdaily.com/8323-small-business-budget.html


Please comment below with your thoughts on running a successful small business. What would your top tips be? We always love hearing from you!

Monday, 24 October 2016

How to Generate New Business for Your Start-Up

Click here to see our membership packages or here to subscribe to our mailing list. 

Our next event will be at Indigo Blue on 9th November. The topic will be 'Having established demand and support for our product what else should we do to ensure commercial viability?" We hope to see you there!


People won’t buy something that they don’t know that they want yet. So don’t start by selling your product; start by marketing it.

Most successful brands, from Apple to Nike, aren’t selling a product, they’re selling a lifestyle. One pair of trainers doesn’t really differ that greatly from the next and yet Nike manage to convince their customers that a new pair of kicks will change their lives. The same goes for the latest iPhone. It’s not that different from the one that came before but everybody wants it, just the same.

People need to want to live the kind of lifestyle that your product offers. And when they do, you don’t need to directly sell to them anymore. Start as you mean to go on and create an effective communications campaign to drive sales without direct marketing.

Start with Your Customers

Communications is all about storytelling and there’s no point in telling stories that your audience can’t relate to. Make sure you know who your target market is. Think about age, gender, location, etc. What music are they into? Where do they socialise? What are their favourite brands? Look at on demographic at a time – never try to be something to everyone all at once.

Now You Know Who You Want to Talk to, Decide Where to Talk to Them

The next step is to decide which channels you want to use to connect with your prospective customers. Will your target demographic respond best to social media or more traditional channels? Do you want to talk to them directly or via journalists? Or is it your existing customers who will introduce new business?

There are more channels open to you than ever before so be smart about making choices. Don’t try to use as many as possible; decide which ones will be most effective when communicating with your customers and focus on those.

For example, platforms such as Snapchat and Instagram Stories are very effective for energy drink brands, like Rockstar or Relentless, who market to young, active customers who enjoy high-energy and easy access content. However, older, more experienced customers might prefer platform such as LinkedIn or advertorials in magazines and newspapers.

Think About Your Content

With the advent of the internet and smart phones, you have all you need to create quality content in your pocket. All Macbooks have free video editing software as standard and your phone provides a decent quality video camera. There are hundreds of apps offering free photo editing software and we all have word processors coming out of our ears, on our phones, laptops and tablets.

People love to have things and knowledge that they can share and pass on. Ask yourself whether the content you’re putting out has value to others? Does it tell them something that they don’t already know? Why should they share it with their friends?

It’s also worth thinking about what makes your content unique but balancing that with making sure that you stay topical. No one wants to read about Christmas in July but equally, no one wants to read the same information over and over again in different words. Choose something relevant that no one else is talking about – what makes your product unique and why?

Don’t Be Afraid of Change

If what you’re doing isn’t working, then change it up. Another advantage of the internet age is that we all have instant access to metrics telling us exactly what works and what doesn’t. Identify what your customers engage with and interact with the most and do more of that. Then look at what they don’t like and either scrap it completely or change it. There’s no shame in being wrong about something as long as you are able to move on and find the right thing for both you and your customers.

Please comment below with your thoughts on generating custom for small business and effective communications campaigns. We always love hearing from you!

Wednesday, 19 October 2016

Small Businesses and #Brexit

What does Brexit mean for your business? For those just venturing out into the world of small businesses, trying to establish themselves in an ever-changing market, the uncertainty created by the Brexit vote may seem daunting. The good news is that a survey conducted by research firm BDRC Continental suggested that only thirteen percent of SMEs (small to medium sized companies) rated the current economic climate as a major barrier to business. Many SMEs are reporting “business as usual”, although there is some concern shown by larger companies.

The bad news is that when talking to small business owners directly, newspapers like The Guardian have found mixed opinions on the affects that Brexit is having and will have upon their companies. For example, the anonymous owner of a communications agency told The Guardian that “it’s devastating for us as a small business and I am not sure if we can survive it”, whilst others saw it as an opportunity to be exploited and a chance to expand their client base.

The Small Business Task Force

In the wake of the historic vote to leave the EU, a group of organisations came together to create the Small Business Task Force. This includes The Entrepreneurs NetworkEnterprise Nation (whose founder Emma Jones leads it), ICAEWIPSEBright Ideas TrustGlobal Entrepreneurship WeekNACUESocial Enterprise UKCoadec, CFENational Enterprise NetworkRSA & EISA.

Collectively they represent over a million small businesses and self-employed individuals. Besides facilitating an improved dialogue between the government and small businesses, they are calling for a flexible labour market, a reasonable tax regime, stable business support and an international focus to be kept front and centre in the Brexit negotiations. This includes advocating for long-term residency rights of EU citizens currently living and working in the EU as well as calling for a review of funding available for business support and future plans for its expenditure.


Top Tips to Survive Brexit

1. Don’t panic.

2. Make sure you have a plan B.

3. Consider how your business’ unique position in the market can help you to make the most of any opportunities that Brexit may present.

4. Check in with your investors, clients and suppliers. Make sure that you’re all on the same wavelength and that you know where you want to go next.

5. Keep a close eye on the news and the markets.

Click here to see our membership packages or here to subscribe to our mailing list. We’re eager to hear your thoughts about how Brexit will impact your business and what you’re doing to mitigate or take advantage of the consequences so please leave a comment below!

Our next event will be at Indigo Blue on 9th November. The topic will be 'Having established demand and support for our product what else should we do to ensure commercial viability?" We hope to see you there!