Issue 31

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I s s ue31•Nov e mbe r / De c e mbe r2018

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Cont e nt s 0 2 MessagefromtheEditor 0 3 InternaonalExpansion:HowtoSucceedWithoutCompromise 0 7 HowtoA ractEmployeestoGrowingSMEs 0 9 6ThingsMostSuccessfulCEO’sHaveinCommon 1 1 GrandDesigns:BuildingyourDreamBusiness 1 3 StepstoBuyingaNewBusiness 1 7

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1 9 CommunicaonisKey:WorkplaceMessagingEque e

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E di t or S a ndr aHi ns he l wood

Me s s a g ef r omt hee di t or We l c omet oI s s ue3 1 ! Aswehe a dt owa r dst hee ndoft hey e a r , t hemos ts i g ni fic a nti s s ue s i nt hene wsa r et hefina l ne g o aonsbe t we e nt heUKa ndt heE U. Wha ti se v i de nti st ha ti ti snote a s yt opl e a s ea l l . S omec onc e s s i ons wi l l ha v et obema de , a l l ofwhi c hwi l l ha v eas i g ni fic a nti mpa c ton bus i ne s s e sofa l l s i z e sa ndt hee c onomyi ng e ne r a l .

L a y out&De s i g n S a ndr aHi ns he l wood& J a s mi neHi ns he l wood

Ma nyc ompa ni e sa r el e a v i ngt heUKa nds e ngupi nt heE Ui nt he hopeofmi ni mi s i nga nyne g av ef a l l outf r omBr e x i t . Wha ti s i nt e r e sngt onot ei st ha ti ti snotj us tt hel a r g emulnaona l c ompa ni e st ha ta r el e a v i ng . S ME st ha tt r a dewi t hi nt heE Ua r ea l s o br a nc hi ngouti nt hehopet or e duc et her e dt a pe . T heUKi sc ur r e nt l ys uffe r i ngf r omal a c kofs k i l l e dwor k e r s , a ndt hi s pr obl e mi sonl yg oi ngt og e twor s e , a sov e r s e a swor k e r sa r ee i t he r notwa n ngt owor ki nt heUKorwi l l f a c es t r i c t e ri mmi g r aon c r i t e r i a . I nt hi si s s uet hea rc l e sc ov e ri nt e r naona l e x pa ns i on, i nv e sngi n s t a ff, a ut omaon, i mmi g r aon, a ndg e ne r a l l yl ook i nga tg r owi ng y ourbus i ne s swi t houtc ompr omi s et oy ourv a l ue s .

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2 9 t hMa r c h2 0 1 9 , wi l l behe r ebe f or ewek nowi t . Ma k es ur et o s pe ndt he met oc ons i de rt hei mpa c tofBr e x i tony ourbus i ne s s . E v e nt houg ht hefina l de a l i sy e tt obede c i de don, y ous houl dbe r e v i e wi ngy ourbus i ne s spl a nnowa ndl ook i ngt omig a t et hei mpa c t ony ourbo oml i ne . I hopey oue nj oyt hea rc l e s . T oy ours uc c e s s , S a ndr a

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International Expansion: How to Succeed Without Compromise For many businesses, successful growth and expansion into international markets is the ultimate goal. Breaking into these new global markets can give companies a greater sense of recognition in the eyes of their customer and competitors, but behind the scenes it

can take a more business-wide effort to make sure it’s done right. Cracking the global market can be tricky, and according to new research from the Harvard Business review, only a handful of organisations have managed to get a return on their assets. Having reviewed the success of 20,000 companies from 30 countries, the study found businesses operating abroad had an average yield of

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less than one percent–even five years after their initial expansion. For the majority of business included in the study, most reported it took nearly ten years to generate returns of +1%, with only 40% of companies turning +3% in that same timeframe. While this data does indicate it can be arduous to expand into new territories, it’s testimony that it’s not impossible. If you’re willing to take the risk, the returns can pay off four-fold if you have the right strategy in place. So how can you make sure you have the right plan of action? Many businesses will do whatever it takes to reach their goal, which can mean sacrificing other elements that make them different from the rest. But others will choose to drive forward with their vision without compromising their company culture, as it can come down to finding that happy medium.

Growing your business without compromise There is always give and take when it comes to the growth of a business. Unfortunately, there isn’t a one-size-fitsall approach for everyone to follow, and if you currently operate across some sectors, what works for one area of your business may not work for another.

Nevertheless, the answer is not to completely replicate what other businesses are doing to achieve the same goals; it comes down to remaining unique, identifying what you can offer that’s different, and building your vision around that. Remember it should always be about creating value. Not just for your profit margins, but your brand as a whole, your employees, and a positive company culture that is the beating heart of your business. You’re never going to increase value by diluting what you already have, so no matter what you need to give to engage a new industry, try to keep that solid foundation.

Identifying your target market The first step towards successful global expansion is to determine the markets you want to break into. Look at your current customer base, analyse your product/service or, if you have an inhouse market research team, have them find the area that has the most value or where the industry is likely to peak next. Stepping out of your comfort zone into a new market is always more of a risk than expanding into an area where you’ve already experienced increased success, but if you can find the right niche, you’ll reap the benefits. Plus, if you’re also at the forefront of developing a niche

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service in a new location, you’re more likely to have a greater impact. When we decided to expand our niche services into new markets, we knew the areas that would be a good fit. Nelson Frank and Jefferson Frank were launched following the increased demand for ServiceNow and AWS professionals. Choosing the right markets should set you up for success, as it’s never valuable to compromise the products and services you offer just to break into a market that looks to have more profit. Not only could this cause your expansion plans to falter, but it could also have a negative impact on the work you do in other areas.

Investing in staff teams Breaking into a new territory can be a challenging time for any business. Building up a brand won’t just come down to the exclusive services you can offer an area, it’ll also be dependent on the people you have on the ground to help make it happen. Building a new business hub in North America or Europe is a massive undertaking, there are many individual markets you’ll have to contend with.

However, you can avoid these obstacles by bringing in people who have previous knowledge in your chosen market and how businesses currently operate there. A strong company infrastructure is a vital part of business success; you’ll need to have the right people in place from Csuite all the way to ground level to ensure they can help you grow successfully while also maintaining the standards your business already set. When creating your expansion team, it’s important to invest wisely in the recruitment process to appoint people who work well with your current team, but also work to deliver improvements to the services you offer in a new area. These people will safely guide you through the expansion journey, and help you to achieve success no matter where you are in the world, as they’ll ensure you choose the right areas to expand into at the right time. If you’ve already spotted a new opportunity for your business to grow its services into, stand your ground, start planning your staffing priorities, but make sure you’ve done all the market research to ensure you hit the ground running.

About the Author Zoe Morris is the COO of niche IT recruitment firm Frank Recruitment Group, overseeing the company’s ongoing business and sales operations, employee training, and hiring initiatives.

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How to Attract Employees to Growing SMEs The world of business is a tricky one, and

are some of the ways growing SMEs can

business owners certainly have their work

attract employees.

cut out trying to grow and expand their venture regularly. As a business grows, it will inevitably need more employees as more work needs to be fulfilled.

Competitive Pay There are no two ways about it, offering a competitive rate of pay will undoubtedly entice more people to the role. Using a

However, attracting employees is a task in

website like Glassdoor can help you to

itself, as there are many other growing

determine what your competitors may pay

SMEs which will also be competing for the

for a similar job role that you might be

same type of employee. In light of this, here

advertising for, and then you can match

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that or top it should you wish.

The Workplace

Of course, pay is not the only factor which

It is the 21st century, and no one wants to

will attract employees, but after one of the

work in a drab, dreary office any longer.

worst wage squeezes in history everyone

Many modern workplaces now have areas

will be happy to earn a decent living for the

where employees can feel at home, with

work that they do.

games consoles, sofas and even electric

Growth Opportunities

skateboards (if there is enough space).

If you give your employees the chance to

Sometimes it is small comforts like this

grow along with your business, then they

which really resonate with those looking for

will surely be grateful, as it gives them the

work, and encourage them to apply for the

chance to expand their own skillset as well

job. The more extras that you can offer like

as giving them variation in their work.

this, the more your business will seem like a

SMEs work very differently to established companies, and employees are often given multiple different roles in different fields/ departments (someone in marketing may

homely workplace, where people can both work and relax on their break. Areas like this will also help them to be more relaxed and less stressed at work.

also do some HR or admin work). This

It shouldn’t be too difficult to attract

makes the job exciting and varied, and helps

employees to an SME, so long as you stay

you to build a highly talented/skilled

up to date with modern day practices. If you

workforce which has a deeper

can make working at your business exciting,

understanding of the business and its

rewarding and fulfilling then you’ll have a

various needs. Advertising opportunities for

flock of potential employees fighting for a

progression, and including some precise

job there.

details about them, will go a long way in attracting employees.

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6 Things Most Successful CEO’s Have in Common People sometimes look at successful CEO’s

because although an extrovert will give a

and wonder how they achieved that

better interview and a more polished

position. There will have been a lot of hard

presentation, an introvert will be better in

work involved, many long shifts and

the actual job.

sacrifices will have been made along the

They are more likely to put their head

way. Most of them have some similar traits

down and get on with the task in hand,

as well, some of which are a little surprising.

which is all-important for any successful

Introverts

CEO.

A study has shown that the most successful

They Do Not All have Degrees

CEO’s are usually introverts, not extroverts

(But They Are All Smart)

as you might expect. It is thought that this is

Not all the top people in businesses have

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degrees. That does not mean that an MBA with engineering focus, for example, would not be useful, as there are some businesses that would not employ you without it. This applies to many other areas as well, such as law, accountancy, marketing and many more. However, it proves that you can get to where you are with natural drive and intelligence, along with a healthy dose of experience.

They Are Not Perfect They are not perfect by any means, and

They Are Reliable When you are working at the top of the ladder, reliability is crucial. You have to do what you say when you have said you will. If you show unreliability, any people working under you will think they can do the same. This could be a big mistake where customers are concerned, as if your company promises to meet a deadline, for instance, then meet that deadline it must.

They Make Their Decisions Quickly

most of them will acknowledge that. At some point, they will have all made

Good CEO’s don’t hang around when a

mistakes, even if it was in a previous

decision has to be made. They will look at

employment. They all just hope that any

all the pros and cons of a situation and

errors they make are not so big that they

make the decision from the information

cost their company money or they lose their

they have, as quickly as they can. Delay in

job.

deciding a matter can cause unrest among

They Are Flexible

the employees, so dealing with them as soon as possible is a really good trait to

Successful CEO’s are flexible and adaptable

have.

to change. There is no stopping the

Of course, there will always be brilliant

advancements in technology that are

CEO’s who do not fit the norm and ones

happening at an amazing pace, and anyone

that will make a huge success of a business

who lets their business lag behind will soon

because they are different. Generally,

see a drop in the number of sales they

however, research has shown that most of

make. Good CEOs don’t let this happen by

the successful CEO’s have the traits shown

keeping abreast of the latest updates in

above, and if they don’t already, they will

their industries.

soon learn them.

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Grand Designs: Building your Dream Business By Malik Muhammad

Grand Designs is a fascinating programme that features the unique stories of people who realise visions of building their own homes. It follows their journeys from initial idea through to actual completion. The hosting and narration of designer/writer Kevin McCloud engage the viewer in the often emotional stories that serve as backdrops to the manifestation of buildings that become homes.

benefit in establishing a qualified team who are prepared to be flexible in their approach to complete the mission at hand. Factors that threaten to delay building include adverse weather conditions, limited lines of credit, issues with suppliers and the availability of specific materials.

Digging the foundation of these homes may be likened to identifying the core values of your business. They both require going deep within an already existing reality to lay the basis on which something solid will be built. Building your own home requires a strategic blueprint and loads of patience and sacrifice - just like your establishing and maintaining your business. Resilience pays off when the focus is clear.

Factors that affect your profit in business include changing market conditions, cash flow problems, poor service from suppliers and failure to implement effective measures in a timely fashion. Your business is only as good as the team around you. The holder of the lowliest position is as valuable as the holder of the most high profile position - and all positions in between - because each position uniquely contributes to the manifestation of the main mission. For example, the virtual secretary you rarely see directly impacts your business imagery. A dirty office makes a poor first impression. It looks bad on your business if someone answers your contact line as if they were annoyed by the disturbance.

Another lesson from Grand Designs is the

The idea gives birth to the blueprint which

Homes that owners are proud of! Homes that were once thoughts in the minds of their resilient owners! Homes that were created to last!

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brings forth the team who manifest the vision. How do you create a strong foundation in order to survive? What steps can you take to support the longevity of your business? Are there any rituals you can incorporate to build a solid business? Here are 4 rituals to develop (or keep doing): 1. Surround yourself with an effective team of people who possess specific skill sets and add value to your vision. 2. Trust your gut instincts. 3. Form collaborative partnerships to get things done in a timely manner. 4. Respect your time. Meetings are productive with agreed points of discussion noted in advance. Business calls should stay on point, emails written clearly and diaries used to organise your day/month/year. Excavating involves the careful removal of earth from a particular area. In archaeology, excavation is concerned with the exposure, recording and processing of remains that were dug up. To excavate one must go within in order to create space for/or to unearth something new. Going within yourself to identify then bring life to your vision is truly a grand design. The blueprint in your mind takes form once it is written down and actioned. You excavate then build in the similar way you go within yourself to then cultivate your vision. Another parallel is that the ‘race’ of developing a business is not for the swift but for those who endure and stay relevant over time. Acquisition is cheaper than maintenance which means that technological advancements and

new ways of solving old problems must be taken on board. Critical thinking should trump emotional nostalgia. Financial analysts are suggesting that two of the reasons that a 125-year-old American retail giant like Sears has filed for Chapter 11 bankruptcy (at the time of writing) are shifts in consumer spending and the rise of ecommerce. Some 142 stores are expected to be closed by December 31, 2018. It's reasonable to conclude that decreasing market share is an indication that the brand became irrelevant. The foundation was built after the excavation but little attention was paid to the future upkeep. Assess the relevance of your business and ask challenging questions regarding market share, technological advancements, customer spending patterns and current changes in your industry. Keeping abreast of the factors that impact your business growth will grace you and your team with your own grand design.

About the Author Malik is the host of online talk show ‘Reasoning Sessions’ and specialises in sharing selfempowerment strategies with diverse and multifaith audiences.

LinkedIn | Instagram | Twitter

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Steps to Buying a New Business Have you been getting the urge to become

find a business for sale, the following steps

an entrepreneur? If so, you might be torn

will come in handy in landing you the

between buying an existing business and

perfect venture.

starting one from the ground up. Settling for either of these ideas is a bold step. However, not many people in business will consider the idea of acquiring an existing business, despite it being an equally lucrative opportunity for generating good revenue. Provided you choose a good location that has a ready market, you are

1

Decide on what you are looking for

Before you even go online and search for an available business for sale, you should first take some time to think through the kind of business you would like to operate.

likely to have a success story. If you want to

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Among the factors that you should look into

exploit the local options available. Talk to

in this step is the location of the company.

your friends. Look within your space.

For instance, you might want a business

Maybe you have been working with small

that is close to your home, or you might

business owners who have the intentions

consider having your business near the

of selling their business. It is only after this

beaches if that is where your target market

that it would be advisable for you to go

is. If so, you may want to consider Miami

and look for a potential seller online. This

businesses for sale, as this is a prime

should not be too difficult as you will only

location to tap into this type of market.

need to search for businesses for sale with

Regardless of where you choose, the location of your business will have a direct impact on the costs that you will incur in operating the business, which also includes taxes and business licensing fees. How big

your specifications.

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Work with a business broker

do you want your business to be? Do you

If you have no experience in buying a

have enough funds to buy a big business

business, it would be best if you worked

that will generate you huge profits? What

with a business broker. Brokers come in

industry are you interested in? You need to

handy when it comes to the negotiation of

put all that into consideration before you

the terms of your purchase. Apart from

start looking into businesses to buy..

being charged a commission, they will

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help you land a really good deal. However,

Search for the available businesses for

sale

do not be afraid to stick to your decisions and do not allow yourself to be pushed to accept something that you are not interested in.

At this step, you should now have an idea of what you want. The best way to go about

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4

Conduct due diligence

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Not all that glitters is gold. Do not jump into

Draft a sales agreement

a deal yet if you have not done a

Do you have your funds ready? Now is the

background check for the business. You do

perfect time to create a purchase

not want to sign the agreements only to be

agreement. Do try to do this alone. Work

faced by underlying issues a few days after

with a reputable attorney and ensure that

hitting the road.

you have total comprehension of the

Before you get yourself into any deal, get an

terms before you sign anything. If there is

attorney to accompany you. You should also

anything that is unclear in the agreement,

consider doing business valuations to

do not leave the table before you seek

establish the worth of the business.

clarity.

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If you manage to buy a good business, you

Arm yourself with the necessary funds

can rest assured that you will be able to impact your community through it. Go ahead and be a boss!

Have you found the perfect business for sale? It is time for you to get the funds that you will need to acquire the business. If the source is putting you at your wit's ends, there are some options that you can put into consideration. One of them is getting a business loan from your bank. You can also use a seller's funding bank, have the seller let you pay in instalments, or get an angel investor to help you out.

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Focusonyourgoal s , notyourf ear .

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Automation vs Immigration - Possible Solutions to the Skilled Labour Shortage By Daniel Brown

In today’s business world, we face a lot of issues, one of them being the shortage of skilled labour. In fact, this might even be the most important issue any business can face. No skilled labour leads to a decrease in quality and sooner or later has your business plummeting. There are two approaches towards the solutionautomation and immigration. Automation seems like the obvious choice but has a lot of drawbacks in today’s society. Thankfully, immigration has all the answers automation is missing. So why exactly might immigration be the right resolution and how do you go about it?

1. The benefits Immigration has a lot of benefits, one of the main being that the process is still cheaper than automation. Automation still hasn’t been made that popular and implementing it can cost you a lot of money you could have spent more wisely. What’s more, this is a process which will only work on very big projects. Outside of that, it doesn’t have much use.

Importing your workforce, however, works well for a project of any size and type. On top of that, you don’t lose the human touch. This is a quality every small business should strive to keep as it adds to the authenticity of their business. Though automation is an attractive idea, it can never replace skilled human hands which know what they’re doing. Finally, using immigration as your solution can bring a lot of positive press. You’ll come off as a company which cares about its community and the people of not just your country, but the world.

2. How to do it? There are several ways you can interest foreign workers for your company. A lot of people are already looking for employment abroad, so it’s just the matter of informing them about your business. One of the quickest ways to do this is social media. Though it may sound a bit unprofessional to advertise open workspaces on social media, it’s actually quite effective.

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This is where people spend their free time, and who knows, they just might see your work ad. What’s more, you can opt for many sites which only advertise job openings. This way you’ll guarantee only serious potential employees contact you. This is also an easy way to reach new employees because most small businesses have an established network, so you can use that to your advantage.

3. Who to talk to? Of course, this isn’t something you can get into by yourself. It requires professional advice and guidance. Immigration is a tricky process, especially in first world countries, especially in Australia. You need to know all the policies and laws before you actually start recruiting people so as not to get in trouble with the law. Even though saving money is the goal to this operation, don’t cut corners when it comes to obtaining professional help. Hire the best immigration lawyer in Sydney, as only he will know what exactly you need to do. This way you’re also ensuring you’re getting the right information and keeping your best interests in mind. On top of that, it means that you’ll be able to acquire a better quality workforce without wondering if you’ll get in trouble. Simply put, doing

things by the book with a quality lawyer equals success, great employees, and a peace of mind.

4. What to expect Most employers are a bit wary of this process as they don’t know what to expect from foreign workers. After all, there are some cultural differences to overcome, and sometimes even language barriers. Neither of these is a real issue, though. Your employees are people, no matter where they come from. Just treat them as such. You can expect they’ll do the job they were hired to do, and that they’ll contribute to your company’s success. Try to connect with your new staff and make sure they feel welcome. After all, this is a big change for them, too.

Conclusion All in all, both immigration and automation have their perks, but one is clearly better than the other. Today’s world is on its way to make automation more accessible, but until then, immigration is the key to never being short on skilled staff. After all, does it matter where your employees come from when they’re excellent at their jobs and will be a great asset to the company? No, the most important thing is success, and immigration can help you get there quickly.

About the Author Daniel Brown is a law graduate and a passionate blogger from Sydney. His areas of interest are alternative dispute resolution and its applicability in different fields of law, IP law and resolution of disputes arising from intellectual property infringement and commerce law.

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Communication is Key: Workplace Messaging Etiquette How are you communicating with your staff? Email? Slack? But are these the really most effective messaging services for your team. A recent study has shown that if you want to have meaningful and engaging communication with your staff, smartphones are the way forward. The study revealed 85% of the population now owns a smartphone and a third of us admitted to being addicted to checking

them. The reality is, your staff are checking their phones at work, but you can use this to your advantage. Done right, capitalising on smartphone communication can be a great way to show your staff that you understand them.

Should you be texting your staff? Research shows that 92.2% of people still

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use their smartphones primarily for texting. In fact, 18 - 24-year-olds are sending and receiving - on average - 128 texts a day, and 25 - 34-year-olds send and receive around 75. If you’ve got a relatively young staff, sending them a text might be the most efficient way to talk to them. The major benefit is that a text feels friendly. It offers you the chance to deliver feedback and critique in a way that doesn’t feel overly formal and allows you to connect with them on their level. And they want it. A study by VTLO founds that 70% of employees wish their bosses would communicate with them via SMS. Another big benefit of texting your staff is that it is fast and reactive. Delayed messages and poor communication can cost your company money, especially if you have field staff or staff that work remotely or from home. Texting also creates a quick and easy to follow log of all your communications with staff. So, if something goes wrong, it’s easy to establish the cause of the issue. Text logs can also be used by HR departments should a case of misconduct arise. But, it is important to establish boundaries. You should only contact staff on their personal phones with their permission or alternatively, think about providing them with a work specific phone.

Is Email outdated? In short, no. Email is still hugely popular with 81% of 25 - 44-year-olds checking their email every week. The only difference is that people are more likely to check their emails on a smartphone than any other

device. In fact, 92% of under 35’s would rather check their email on their smartphone than their laptop. Email is still a great way to connect with staff during the work day, but as with texting, set boundaries. Respect your staffs right to disconnect. Don’t send them emails at 11 pm or 6 am. This shows that you appreciate their personal life and trust that they are working efficiently during the workday. Millennials in particular value a work-life balance. They will stay longer at a job that values their private life, personal time and mental health.

What about WhatsApp and Facebook messenger? Both of these are hugely popular with all ages – Interestingly, 6% of users over 60 have migrated to WhatsApp and an impressive 43% have made the switch to Facebook Messenger. So it’s tempting to start capitalising on this to contact your staff members. But don’t. These are social messaging services - with the keyword being social. They aren’t meant for work and they blur the line between professional and private life – which your younger staff members could be particularly adverse to. In summary, ask your staff how they would best like to be contacted, respect their personal preferences and boundaries and you could significantly improve your internal communications - making your business run more seamlessly.

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Cont r i but e I fy ouwoul dl i k et oc ont r i but et of ut ur ee dionsofBus i ne s sPa r t ne rMa g a z i neďŹ nd outmor ehe r e .

Ge ti nT ouc h Wewe l c omey ourf e e dba c k , c omme nt sa ndque sons . Pl e a s es e nda ne ma i l t oi nf o@bus i ne s s pa r t ne r ma g a z i ne . c om

Phot oCr e di t : Phot ok a nokwww. f r e e di gi t a l phot os . ne t


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