Wednesday, 25 July 2012

Heroes And Heroines


We all have them, don’t we? In business mine are the people of passion and principle who never let their morals, core aims and beliefs, be sacrificed by an easier, compromised route to growth, and they refuse to be bullied. You don’t have to change the world, you don’t have to grow. But I firmly believe if you are principled and dedicated it brings, as in all aspects of life, respect and trust, and these are cornerstones of a good existence, a good business.

Guest Blogger CATEGORIES Guest Blog, Retail Business, Small Business Support


Last Sunday I spoke at the Independent Retailer Month UK Launch Conference in Solihull. As I took to the stage, I noticed a man hovering by the door and encouraged him to take a seat or risk missing what promised to be the best speech of the conference.
Thankfully he took my comment with the good humour I had intended and informed me that he would in fact be following me on the stage.
Once my speech had ended, the man came over to let me know how fascinated he was by the work that Retail Trust does, and formally introduced himself to me as Stefan Töpfer.

Sunday, 22 July 2012

Getting more out of your networking

A colleague of mine, Barclay Thompson of Clear Business Development, shared the following link (from Nigel Botterill called Networking – The Surest Way to Stay Poor?) with me the other day.
Following that we met up for coffee earlier today to talk about blogging, which I do quite a bit of, and a general catch up.
During our conversation we got round to the article that he had shared with me and we got to talking about networking, in general, and our views on it.
This got me started on a bit of a rant about open networking. You see, I think Nigel has a point, but I would go further.

Dinosaurs, Wind Farms & Let’s Twist Again

Keep up won’t you – most websites that promote ‘how to successfully start and run your own business’ are sponsored by big companies and government bodies and written by people that are in jobs and have never started their own business. The advice is so yesterday. It is stuff from antiquity that belongs in a museum like my hopeless, but suitably ancient for a museum, agent – Tony Robinson OBE.
Most entrepreneurs I’ve met are looking for opportunities to make money all the time. If they followed the advice on these start up websites they wouldn’t just copy stuff and they’d be too late in getting the product or service to market and the opportunity would have gone.
Look at Loubi (Christian Louboutin to you), if he hadn’t read an article about a slashed out shoe with a red line, then thousands of rich women around the world wouldn’t have fallen off his killer heels to, legs in the air, show off his signature red soles.
Dear reader and fan, I want you to take a look at the mind of an entrepreneur. Let’s take one successful one, Stefan Topfer, Editor of this Small Business Blog and one unsuccessful one, the aforementioned aberration, Tony Robinson OBE. They have two things in common; they’re both badly dressed (fleeces – urgh) and they look for business opportunities all the time.

Tuesday, 17 July 2012

How Motivated are your Employees, Really?

“Motivate your teams.” “Engage your employees.” Senior leaders make these directives clear to managers. But why are organizations continuing to focus on employee motivation and engagement during a time when so many talented people are desperately looking for a job?
Informed leaders know that an engaged employee will produce far more for an organization than it costs to employ them. In fact, in a recent study by the Human Capital Institute, a fully engaged employee will produce 120% of their salary value, while a disengaged employee will produce only 60% of their salary value.
At a time when organizational resources are often scarce, disengaged employees can be the difference between business success and failure. In addition, the Corporate Leadership Council found that for up to 76% of employees, engagement is malleable; given the right environment, the engagement of these employees can be improved.
But what does it take to engage an employee in their work and the mission of the company? The task can seem very daunting to a manager, especially when employees are seemingly motivated by so many factors. Conventional wisdom tells us that employee engagement is impacted by everything from relationships with senior managers to a company’s reputation for social responsibility. However, a 2010 study published by Teresa M. Amabile and Steven J. Kramer in the Harvard Business Review has given us new insight.
Amabile and Kramer conducted an extensive, multi-year study of hundreds of employees and found that employees were most engaged and motivated on the days they made progress, even incremental progress, toward their goals.
As such, below is a list of important factors in creating motivated, engaged employees:
1) Clear, obtainable goals
Managers should ensure that the initial goals created with their employees are relevant to the organizations overall priorities and need to avoid the temptation to change those goals indiscriminately. Managers are typically proactive individuals who are aware of changes in organizational direction. However, often times managers wanting to appear proactive can change directives for their team without fully understanding if, in fact, the business priorities have changed or if they are just hearing organizational noise. Additionally, setting goals that are overly ambitious can make even small setbacks seem overly important, causing employees to quickly disengage.
2) Protection from unimportant work
In any organization, a team has a primary purpose. When the team fulfills that purpose, they are making the most impact possible toward the overall goals of the company. Small requests will often be made of any team that have little to do with their intended purpose. A manager should carefully evaluate any requests made of their team that take resources and focus away from their primary function and goals. Managers should also identify and, whenever possible, eliminate bureaucratic processes that add little value or are outdated. Nothing feels more defeating than compiling a detailed report that no one reads.

Monday, 4 June 2012

The Power of your Sales Ledger

Many businesses are not aware of the potential to release cash against their sales ledger. For every sale made, you have to invoice your customers for goods sold or services provided. Factoring.uk.net explains how resourceful your sales ledger could be in these economically demanding times.
Just like your business’ brand, the sales ledger is an intangible asset that generates value and contributes to growth. It is not the most obvious choice of an asset because it’s a record of sales you’ve already made.

People to People (P2P), Not B2B/B2C

Business should be simple. Simple is good. So why complicate the hell out of it?
Business to business relationships or business to consumer relationships?
We all use social media, have we learned nothing? Are you social with Siemens, just because you bought their washing machine?
I should think not.
You may be social with the people who recommended the Siemens washing machine, your friends or family.

Sunday, 3 June 2012

5 Small Ways Credit Unions Can Make the Tech Leap and Start Competing With the Big Banks

With a finger solidly pointed at big banks to explain the 2008 market crash, many sought to avoid the traditional banking institutions and use credit unions instead. This migration created new questions about just what a credit union is and how it differs from traditional banks.

Trade Finance could expand your business

In this current economic climate, businesses – especially those looking to expand – tend to trade with other organisations beyond national borders. Trade finance is a form of business finance that funds the cashflow gap between the purchase and sale of goods. It can enable businesses to capitalise on the global trade market conditions to expand their business.
What is Trade Finance?

Get more customers by understanding your sharers

Consumer and customer behaviour is changing in front of our eyes. As a result, there is a lot of talk about how our marketplaces are changing, the influence of digital channels, the importance of word of mouth, how social media channels are allowing customers to find and share us with their friends and networks and how we as businesses should be adapting.

Wednesday, 30 May 2012

10 Ways to Slash Your Business's Gas Costs

10 Ways to Slash Your Business Gas CostsIf you thought you were having a nightmare the last time you drove past a gas station, sorry -- those prices are real. And they're not going away.
This year is forecast to see the highest U.S. gas prices ever. After hitting $4-a-gallon highs in 2008, gas prices declined, but now they're back in the $4 neighborhood and predicted to stay there. Expect prices to peak in the summer, when vacationing families drive up demand.
For many small businesses, high gas prices eat away at

Let’s Get a Couple Things Straight…

There’s a new story in Bloomberg BusinessWeek by David Lynch called “It’s a Man vs. Machine Recovery.” It’s about technology’s recent impact on wages and employment, and includes quotes from Race Against the Machine, the ebook Erik Brynjolfsson and I published recently.
I like the piece overall, but want to correct an impression or two that it leaves. Lynch writes: