W W W . T A L K B U S I N E S S M A G A Z I N E . C O . U K
June 2015 ÂŁ4.50
THE ONLY WAY IS EFFORT
Discover how entrepreneur Lucy Mecklenburgh cast off the shackles of TOWIE and achieved business success with a little help from her high-school English teacher
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OPENER STRATEGY
inside 11 Editor’s letter 12 Contributors 15 News & events
18
47 You can’t have your cake and eat it
TECHNOLOGY
Rich With
49 A happy home from home Workplace design tips 52 A helping hand Using freelancers for growth 55 Flex your routine, not your wallet Keeping costs down 56 Don’t discount vouchers 5 hidden benefits of voucher codes
MARKETING
105 Internal affairs Dragons’ Den’s Piers Linney
explains how to inspire the next generation with work insights
107 Pain in the back-end? Fixing pesky IT pain points 110 Tech review The Gadget Show’s Ortis Deley
105
59 Off the mark Kimberly Davis on the worst
marketing mistakes made by SMEs
61 So simple, so social A beginners’ guide to Pinterest 64 Ad Fab VP of Shutterstock, Gerd Mittmann,
on choosing images for adverts
the times
marketing leads
gives his views on the latest tech
113 Wonderful websites without the worry 115 I’ve got an app for that
68 Corporate gifting Harrods discuss rewarding with SUCCESS 18 The only way is effort
Former-TOWIE starlet Lucy Mecklenburgh invites us behind the scenes of her business success
28 Igniting the spark CEO of Entrepreneurial Spark,
71 Plug the holes in your lead funnel How to make the most of your 73 Deal with it Should you use a Groupon deal
for your business?
Jim Duffy, discusses the era of entrepreneurial enlightenment
PEOPLE
32 Lessons learned
77 The road to quell is paved with good intentions
Bradley Smith Hair
35 Book reviews
FINANCE 37 Going it a-loan
Talk Money’s Adam Aiken discusses the pros and cons of loans
39 Stocking up for growth Dai Rees explains the benfits
of trade finance
79 82 86 89 91
42 Feeling deflated? What is deflation, and should
Top tips for a smart risk culture
127
93 95 98
at franchise business Window to the Womb
123 Finding your perfect match The bfa’s Paul Stafford explains
how to identify ethical franchises
Leadership expert Deborah Benson
The peter principle
ADVICE
Avoid staff promotion roadblocks
It’s dangerous to go alone Tips for protecting lone workers
Secret diary of an entrepreneur Neil Capel of Sailthru
Should you bury the past Are references still relevant today?
Turn that frown upside down
Lee McQueen
LIFESTYLE
we be afraid?
45 Risky business
117 Franchise news 118 Baby boomers Dynamis’ Nicky Tatley looks
31 Up and Coming Billy Woodford of NoCopyrightSounds
FRANCHISE
We love... Top tech Summer style
Ladies fashion workwear trends
Hotspots: Glasgow
Locations for business stays, meets, and eats
101 On the road: Range Rover Sport SDV6 Oliver Hammond’s car review 102 Leave the office behind Stuck for somewhere to go this
125 Sales Doctor Your questions answered 127 10 tips on how to become a great negotiator 131 Legally speaking Wright Hassell tackle non
disclosure breached by supplier
safeguarding your secrets
132 Passwords, passwords everywhere Riverbank IT’s tips on 134 Directory
OPINION 137 Question of the month: We ask “Would you promote a
lesser skilled employee over an extremely annoying one?”
138 Trash talk Readers discuss the business
phrases that annoy them most
summer? Let us inspire you!
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Scan this QR code to subscribe to Talk Business
LUKE GARNER
EDITOR
Luke Garner luke.garner@talkbusinessmagazine.co.uk
DESIGN
Louise Salisbury artwork@talkbusinessmagazine.co.uk
WEB DEVELOPMENT MANAGER Mitchell Finlay mitchell.finlay@astongreenlake.com
SALES & MARKETING MANAGER Scott Hartley scott.hartley@talkbusinessmagazine.co.uk
SALES ACCOUNT MANAGER
Callam Hall callam.hall@talkbusinessmagazine.co.uk
MANAGING DIRECTOR Stuart McCreery
Circulation/subscriptions: UK £40, EUROPE £60, REST OF WORLD £95 Circulation enquiries: Aston Greenlake Publishing Ltd T: 0203 617 4681 Talk Business is published 12 times a year by Aston Greenlake Publishing Limited William Robinson Buildings, 3 Woodfield Terrace, Stansted Mountfitchet, Essex, CM24 8AJ © Copyright 2015. All rights reserved. No part of Talk Business may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the prior written consent of the editor. Talk Business will make every effort to return picture material, but it is sent at owner’s risk. Due to the nature of the printing process, images can be subject to a variation of up to 15 per cent, therefore Aston Greenlake Publishing Limited cannot be held responsible for such variation. The opinions expressed by guests in this magazine are not necessarily the views held by Talk Business magazine, its publishers, and its owners.
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We keep moving forward, opening new doors, and doing new things, because we’re curious, and curiosity keeps leading us down new paths Walt Disney
N
o matter how hard we try, everyone has a stigma. Perhaps it is from where you were brought up, or maybe what you do for a career, or even who you form relationships with, but there is no denying that your actions are often given pre-conceived notions by others. Whether these are judging you in a negative or positive light varies, but rest assured it can be incredibly difficult to break free from such stigmatisations. For our cover star this month, former The Only Way Is Essex cast member, Lucy Mecklenburgh, this realisation is one she’s had to deal with on a daily basis. Looked down on, and dismissed as a vapid airhead because of her reality TV appearances, she’s had to battle to prove her detractors wrong. Thankfully, through sheer will and hard work, she’s now done that, and is the proud owner of two successful businesses Results with Lucy, and Lucy’s Boutique. But this situation is one that many, especially budding female entrepreneurs in maledominated industries, will often have to wrestle with, and Lucy shows that there is a light at the end of the tunnel. Read her inspiring tale on page 18. Have you ever promoted a really good employee, only to find that they floundered in their new role? Well, you might not be the only one. Zoe Efstathiou takes a look at the ‘Peter Principle’ this month, which argues that every employee will one day reach their level of incompetence. But how can you spot the signs and prevent it? Find out on page 79. Elsewhere this month, we delve into the trend of discount codes and vouchers, and whether they’re good for your business. Many people will argue that offering a discount devalues your product, but discounts can be a quick and easy way to grow your audience without a huge marketing spend. Mark Pearson, founder of myvouchercodes.co.uk, looks at the potential benefits on page 56, while Adia PR’s Alison Shadrack tackles how to be a success with Groupon, on page 73. Finally, stuck for somewhere to escape to this summer? I take a look at some of the best places across the globe, and my favourite spots for extreme sports, just chilling out, or delving into culture, on page 102 (sunshine not guaranteed though!).
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The experts
PAUL STAFFORD
RICH WITH
ADAM AIKEN
Paul is the bfa’s PR manager, a role which gives him ample opportunity to indulge in his passions for writing and business. A diverse background in SMEs led him to focus on communications roles, and has proved to be ideal experience for writing features, articles, and social media updates on the varied franchise sector. When he’s not scribbling in a notepad, he can usually be found reading, or procrastinating about finishing his first attempt at a novel.
Rich is a brand consultant, speaker, and graphic designer, and has worked in the creative industry for 20 years. Cutting his teeth in newspapers he went on to work and consult for hundreds of firms in both the UK and overseas, from Barclays to beach bars. Late in 2013, he co-founded The Grow Creative Co., a rapidly growing creative agency in the south east, working with inventive and aspirational firms to create a range of on- and offline products and solutions, that really help companies build their brand. He has a contradictory nature - a lover of using innovative tech, but often coupled with artisan off-line techniques. Always rooting for the underdog, he believes in building small firms in to “challenger brands” allowing these businesses to continually punch above their weight in an ever-increasing marketplace. You can find him on Twitter @RichGrowCo
Adam is an experienced financial journalist who spent his early career at the Eastern Daily Press (EDP) before going freelance. After cutting his teeth as a news reporter, and then subeditor, he was personal finance editor and deputy business editor at the EDP. Based in Norwich, he is currently helping to launch Talk Money - an online personal finance sister title to Talk Business - and he also writes for publications such as Moneywise. Adam is a Sussex County Cricket Club member, and loves music. A regular concert-goer, he reviews live gigs for Classic Rock magazine and its stablemates.
PAUL ADVISES HOW TO IDENTIFY ETHICAL FRANCHISES ON PAGE
123
ADAM DISCUSSES THE PROS AND CONS OF LOANS ON PAGE
37
CAN YOU HAVE YOUR CAKE AND EAT IT? FIND OUT ON PAGE
47
12 June 2015
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OPENER
news One third of workers worry about health issues caused by desk work Work-related stress, eye strain brought on by screen work, and back and neck injury among biggest concerns
A
recent national survey investigating top health concerns in the workplace has found that a third of UK workers are troubled by the possibility of suffering from physical or mental health problems at work. Out of a total of 1,755 male and female participants who responded, the majority reported being worried about the occupational health issues caused by stationary desk work. The most commonly cited issues include work-
Retailers lose £1.15 trillion due to overstocks, out-of-stocks, and returns Losses equal to 11.7 percent annual revenue for typical retailer
related stress, eye strain due to screen work, and back and neck injuries. Robert Winsloe, managing director at health and safety consultancy, Arinite, says: “This goes back to the old adage about ‘a problem shared is a problem halved’. If an employee experiences health and safety concerns in the workplace, and is willing to report it, there is a good chance something will be done to address the problem. Conversely, if young workers experience health and safety issues
R
etailers worldwide lose a staggering £1.15 trillion annually due to the cost of overstocks, out-of-stocks, and needless returns, according to new research released from retail analyst firm, IHL Group, commissioned by OrderDynamics. These inefficiencies result in monies left on the table, and the loss of sales that otherwise would be available. The worldwide losses in the three categories are: • Preventable returns: £424.9 billion each year • Out-of-stocks: £419.3 billion each year • Overstocks: £312 billion each year For the majority of retailers, the combined impact of overstocks, outof-stocks, and preventable returns
but feel they cannot report it for fear of losing their jobs, then the reporting incidence would be lower, and the concern about it higher, as it has yet to be reported and addressed.” Winsloe continues, “Stress levels are on the rise generally. Everybody working today is being asked to deliver way more than they were five, 10 or 20 years ago.” Contact: www.arinite.co.uk
add up to 11.7 percent of lost revenue. “Retailers all too often focus on a variety of ways to drive revenue, and increase comparable year-over-year sales, but retailers can realise huge gains by addressing opportunities that are in hand and slipping through enterprise fingers,” said Greg Buzek, president of IHL Group. “These problems are within retailers’ grasp to solve, but it requires more than data, more than business intelligence. It requires understanding the root causes of inventory and data disconnects, and implementing the technology solutions and operational changes to address these revenue-limiting issues.” Contact: www.ihlservices.com
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OPENER
news Holiday companies worst at blaming customers when things go wrong
The customer is always wrong
T
he traditional mantra for successful businesses, ‘the customer is always right’ is under threat, as UK businesses get tough with complaining customers, according to new research by alldayPA. The survey, which questioned 1,000 members of the public, found that most (76%) had been frustrated with businesses refusing to apologise when things had gone wrong with a product or service. Just under half (47%) had an even worse experience, being told that problems were their fault when they tried to make what they consider to be legitimate complaints. Holiday companies were found to be worst at dealing with customer complaints, with 31% of respondents saying they had experienced operators refusing to apologise, accept responsibility, or help with problems. These were closely followed by utility providers (such as power, telecoms,
and water companies) - with 26% of respondents reporting problems - banks (21%), and delivery companies (20%). The telephone is still the preferred method to make a complaint, favoured by 70% of people surveyed, and bad telephone experiences often add to the frustrations of complaining customers. 68% of people had experienced problems with rude and unhelpful call handlers, whilst 55% said that they had been frustrated with automated call menus when all they wanted to do was reach someone to speak with. Sue Ratcliffe, spokesperson at alldayPA, said: “Understandably, companies don’t want to accept blame for something that isn’t their fault, but it’s important to strike the right balance, so that customers feel that you are listening and doing your best to help them.” Contact: www.alldaypa.com
DATES FOR THE DIARY Business Junction Networking Events 4 June Bentley’s Oyster Bar & Grill, 11-15 Swallow Street, London, W1B 4DG 11 June Aveqia London, 2 St. Bride Street, London, EC4A 4AD 17 June Corrigan’s Mayfair, 28 Upper Grosvenor Street, London, W1K 7BH 25 June Brand Exchange, 3 Birchin Lane, London, EC3V 9BW www.businessjunction.co.uk
Sterling Integrity 2 July - Gloucester Kingsholm Rugby Stadium 24 September - Bristol Future Inns Bristol www.sterlingintegrity.co.uk The First Women Awards 2015 11th June London Marriott Hotel, Grosvenor Square, London www.firstwomen.co.uk/awards Safety and Health Expo 2015 16th - 18th June ExCel, London www.safety-health-expo.co.uk
NACFB Commercial Finance Expo 2015 17th June NEC, Birmingham www.commercialfinanceexpo.co.uk Spirit of Summer Fair 17th - 20th June Olympia Grand, London www.spiritofsummerfair.co.uk The British Franchise Exhibition 19th & 20th June EventCity, Manchester www.franchiseinfo.co.uk Business Owners Success Summit 23rd - 25th June Online www.successsummits.co.uk
16 June 2015
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SUCCESS
18 June 2015
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THE ONLY WAY IS EFFORT It may have a reputation as being a vapid, vacuous TV show, marred by irresponsibility and vanity, but nothing could be further from the truth when it comes to former The Only Way Is Essex cast member, Lucy Mecklenburgh. The ambitious entrepreneur tells us how she shook off the shackles of ‘TOWIE’ and achieved success with her fitness and clothing businesses
D
espite being almost two years removed from gracing our screens as a cast member of popular ITV reality show, The Only Way Is Essex, the gorgeous Lucy Mecklenburgh is still a regular feature in our tabloids, magazines, and news bulletins. But while her relationship with
Olympic gymnast, Louis Smith, or what particular outfit she happens to be wearing that day, might be the focus of the media attention, away from the spotlight, it is her business brain that has been busy, working hard on transforming her (perhaps unfair) reputation from that of party socialite to one of a strong, successful
businesswoman. Interspersed with various modelling jobs and media appearances, the Essex-born girl now runs two fantastic businesses; Results with Lucy - a fitness-based, online personal training business that aims to help people achieve a healthy lifestyle, get fit, and feel confident; and Lucy’s
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I hated English and I hated that my teacher would force me to read out loud in front of the class. That’s pretty funny looking back on it, considering that I now live my life in the spotlight Boutique - which started as a shop in Brentwood, and provides daywear, eveningwear, jewellery, prom dresses, and more for the young female market. While it’s no surprise that a model would be into eating well, staying fit, and looking good, for the Results with Lucy founder, it goes beyond a mere hobby and has been the foundation for her achievements. Dismayed by cellulite, worried that she was stuck in a rut with her fitness regime, and set back by
a dislike for exercise that had plagued her throughout her teens and into her twenties, she set about getting into shape. “It doesn’t seem like a job to me, as I enjoy it so much and I try to get my enthusiasm for it to shine through as much as possible. We’ve got over 300 workout videos, covering everything from yoga to boxing, and it’s always updated to keep it interesting. But perhaps most importantly, there are nutrition plans. A lot of people don’t realise
that if you don’t eat right, then exercise isn’t going to make much difference. It is so, so, so, important to eat healthily, so I try to help provide meal plans as much as I can,” she enthused. “We’ve also just launched a new meal delivery service, which I believe will be the first in the UK, that’ll provide meals six days a week right to your door. It’ll be a full workout box, with breakfast, lunch, and dinner, with recipe cards and such. I’m super excited about it!” Other than her love for leading a healthy lifestyle and working out, what is it that has motivated the 23-year-old to cast aside the shackles of TOWIE and venture out on her own into the business world? “People saw that’d I’d lost weight, and I was posting things on social media. My
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followers were responding to it, and so I thought, “That’s great, but how can I go further and give them more?” So I did a lot of research, and I found a shocking statistic that said only 27% of people with gym memberships actually go to the gym.” she explained. “I was sure some of the issues, like people feeling self-conscious at the gym, keeping motivated, or finding childcare, could be overcome. So that’s how I came up with my business idea to have a programme you can use at home, that’s really affordable,
an online offering,” smiled the fashion-conscious star, who regularly appears in magazines such as OK and Glamour. Having found her fame as a cast member on the ITV reality show, she has experienced a Jekyll and Hyde relationship with the programme since leaving. “I think I’ve 100% benefitted from the social media following I’d accrued thanks to TOWIE, and it has opened some doors for me when helping to launch my businesses. However, I think it is sometimes hard to be taken seriously because
Because I was on reality TV a lot of people make the assumption that I’m stupid and an airhead, but it couldn’t be further from the truth and was easy to use. Simply turn on your iPad or computer and you’re away!” “The idea for Lucy’s Boutique was a different story altogether though, and was inspired by my growing up with four sisters. I have quite a young fan base, and I know how important it is for young girls to get the perfect prom dress or outfit. I remember my poor dad having to traipse for miles up and down the country to find dresses for me and my sisters, so I spotted a gap in the market in my local area, and set up the boutique and
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It is hard, and people do put nasty things about you and your appearance, which come through to your phone, so it can be difficult to ignore of it too,” explained Lucy. “You’re tarnished with the TOWIE brush, and people don’t take you seriously. Some people, particularly in the business world, look down on you for it, but that has also made me determined to work harder and prove them wrong.” “Because I was on reality TV, a lot of people make the assumption that I’m stupid and an airhead, but it couldn’t be further from the truth. I think my book has helped, as it allowed people to understand me, my business acumen, my background, and how it all fits together. I don’t want people to forget what I did in the beginning with TOWIE as I’m still proud of it, but I’m a successful business woman in my own right now, and I deserve to be taken seriously.” Social media, often seen as a young person’s game by some, has been an important cog for Lucy in her success. Ignore the benefits of Twitter, Instagram, and other social media sites at your peril, she warns. Indeed one of the lessons she’s learned in
retail is to increase the social media activity during quiet periods. “Social media is so important to any start-up these days. Businesses are starting to spend more on social media advertising than through traditional methods for a reason. We do really well using video clips and images on Instagram, Twitter, Youtube, etc., and it is especially great for any retail business,” urged the happy-go-lucky lady, sometimes affectionately known as ‘Lucy Meck’. “I think our Instagram following gains something like 1,000 new followers a day, to the point where we’ve had to hire staff specifically to run our social media for us. If you can reach so many people in your target audience for such little cost, except a little time and effort, then you’d be foolish to ignore that.” Oddly, despite growing up under scrutiny of the paparazzi, her star of success may not have shone so brightly had it not been for her high school English teacher. “I was probably more behaved than not at school,” said Lucy, with a wry laugh, a smirk, and that infectious giggle that TV fans have come
to know so well. “But I really hated English, and I hated that my teacher would force me to stand up in front of the class and read out loud to everyone. That’s pretty funny looking back on it I suppose, considering that I now live my life in the spotlight and I’m very outgoing.” Given that she’s had success with her book, and aspires to write many more in the future, this irony certainly isn’t lost on Lucy. “Perhaps she did me a favour in reality. I should probably go back and thank her!” she laughed. Although used to it from her TOWIE days, she explains that it can sometimes be difficult to separate the business from the personal in her life, under the constant glare of the tabloid press. “I’ve been in the media since my teens now, and I’ve had to do a lot of growing up. It is hard, and people do put nasty things about you and your appearance, which come through to your phone, so it can be difficult to ignore,” she said. “Equally though, I think I’m really lucky as I have a great relationship with the media. They’ve never really turned on me, and I think it is important to find a balance, and to give something back. After all, you need them and they need you –
22 June 2015
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SUCCESS
So many young girls these days say how they ‘just want to be famous’. It’s important they understand that money and fame doesn’t automatically bring you happiness plus the media is really key to growing my businesses.” As a strong woman in the media spotlight, naturally Lucy is viewed as a role model for thousands of young girls and women across the world. It’s a role that she happily embraces. “When I found out that 100,000 girls had used my Results with Lucy site, I was delighted. I just thought ‘Wow’, if I’ve helped them with their confidence, or on their fitness journey, then that’s an amazing achievement that I’m really proud of,” beamed Lucy, though she did issue a warning at a disturbing trend she’s noticed: “While I’m sure a lot of them look up to me, I hear so many young girls these days saying how they ‘just want to be famous’, or be a celebrity. It is important that they understand that money and fame doesn’t automatically bring you happiness. You’ve still got to work hard. You have to be confident in who you are and what you can achieve.” What advice would she give to any of those budding young entrepreneurs that idolise her, and are perhaps looking to follow in her footsteps? “Do your research, and make sure you know what your competitors are doing, and how you can be better than them. Also, find something that you’re really passionate about and enjoy. I don’t feel like I have a job, although I work six days a week, as I enjoy it so much.” With her passion for fashion and her love of leisure, not to mention a business that is rapidly expanding into the Middle-Eastern and Australasian markets, it appears that the only way is no longer just Essex for the star. Contact: www.resultswithlucy.com www.eatwellwithlucy.com www.lucysboutique.co.uk
24 June 2015
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27/05/2015 27/05/2015 15:46 15:28
SUCCESS
Igniting the spark
A
s the leader of the world’s largest free business accelerator for early stage and growing ventures, Jim Duffy certainly knows a thing or two about helping fledgling businesses succeed. He’s seen hundreds, if not thousands, of burgeoning business pass through the doors of Entrepreneurial Spark, and along the way he’s become somewhat of an expert on the dos and don’ts of starting a
This month, editor Luke Garner catches up with recent Fortune Hunter guest and CEO of Entrepreneurial Spark, Jim Duffy, to discover his thoughts on how to be successful in today’s technology-driven world you just need someone who has faced those decisions before to pitch in their opinion. For example, if you’ve made a hire that you thought would be great, but wasn’t, and you have to let them go. It’s not the nicest thing to have to do, but having someone you can go to and ask, ‘what’s
other early stage entrepreneurs know that a lot of people are in the same boat as them, that they’re not the first ones to experience it, and that there are solutions. It lets them know there are other methodologies than the typical business books that most people read. It’s a big network joining up
It’s important to know who your customer really is. Get out there and speak to 100 people and find out if they really want your product, rather than you just thinking it’s the best thing since sliced bread venture. Now, thanks to a brand new TV show, he’s passing on his wisdom to an even wider audience than ever before. “I’ve seen a lot of start-ups, and one thing that people often overlook is the benefit of having a mentor,” said Jim. “In every entrepreneurial situation, you’re going to have to make decisions. In some, your gut will tell you the right thing to do, but sometimes
the best way to address this situation?’ can be a huge help.” Jim was recently a guest on the new TV show for entrepreneurs and SMEs, Fortune Hunter, hosted by Lyndon Wood. He says his experience was a great one, and that it is a vital tool for the UK’s business men and women. It is in fact, almost like having a mentor in itself. “The show is great, as it lets
to help each other. Perhaps most importantly, when you’re in a start-up situation, you’re it - you don’t know what you don’t know. What I mean by that is that a lot of entrepreneurs will struggle along on their own, without asking for help, when there is so much available out there. As a start-up, you’re bound to make mistakes, it’s about minimising those and learning from people
28 June 2015
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27/05/2015 10:34
SUCCESS
We will look back in ten years’ time and realise this was the time of entrepreneurial enlightenment
who have already been there and made them. You don’t want any catastrophic mistakes in the first six months, so ultimately, getting help from people who have the experience and know-how will only make your business stronger,” said the CEO. “We will look back in ten years’ time and realise this was the time of entrepreneurial enlightenment. We’re having a revolution at the minute, right under our noses. Start-ups are extremely sexy right now, and with crowdfunding, accelerators, technological advancements, and more, it’s a brilliant time to be a start-up,” he enthused. “We also have role models now that we didn’t have before, for people to look up to. Guys like Sir Alan Sugar have made lots of money, and now have the TV programmes such as The Apprentice to inspire people, but tech-tycoons, such as Mark Zuckerberg, are more recent examples of people who have shown that you can do it.” Studies have shown that up to 45% of businesses don’t have the right technology to succeed. This is something Jim believes is inexcusable today, as there are so many options available at the click of a button for budding start-ups. “Technology is a huge driver. Not everyone is based in a tech environment or industry, but 90% of businesses should be tech enabled. There are so many plug-ins out there, such as Wordpress websites, which make things easy. They don’t need
coding experience or anything, so anyone can get involved, no matter how big their budget or low their expertise. Everyone should be taking full advantage of the help there is right now. We’re a very privileged generation of entrepreneurs,” he smiled. So, if it should be easier than ever to start your own business, then why should budding entrepreneurs bother to tune in to watch Fortune Hunter? “Just because it’s easier than ever, doesn’t mean it is actually easy. The TV show is a no-holds barred, honest appraisal of how to run a business. It’s true stories from people who have been there, done that, made the mistakes, and come out the other side as successes. It’ll help every entrepreneur, no matter what stage of the journey they’re at,” explained Jim. “Not only that, if you sign up to Entrepreneurial Spark right now you’ll receive up to 18
Why not tune into Fortune Hunter, which airs every month, with regular repeats, on Showcase TV (SKY channel 192, and FREESAT channel 402), and help grow your business months’ free today! space, and a fulltime entrepreneurial enabler to help you make your business the best it can be.” Having been hands-on with such a plethora of start-ups over the years, what advice would he impart on anyone just starting out and looking to grow? “It is so important to make sure you know who your customer really is, I can’t stress that enough. Get out there and speak to 100 people, and find out if they really want your product, as opposed to just you thinking it is the best thing since sliced bread. Crowdfunding can be a great way to do this as it lets you know there is demand for your product/service. I believe it is going to go stellar in the next few years.” Contact: www.entrepreneurialspark.com
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27/05/2015 10:35
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22/01/2015 12:26
SUCCESS
W
When I see the growth/ positivity of [a] decision for the brand, it gives me confidence, and that motivates me to try harder and keep pushing forward
ith almost 1.8 million subscribers to his YouTube channel, Billy started NoCopyrightSounds as a frustrated gamer who liked to post videos of his gaming exploits online. However, the legal limitations of using other artist’s music stopped Billy from posting what he liked, so he created NoCopyrightSounds. WHAT WAS YOUR INSPIRATION AND MOTIVATION TO GET STARTED IN BUSINESS? I’m an avid gamer, and liked to post videos of myself playing games online. I got increasingly frustrated with licensing issues, as I couldn’t use the music I wanted to in my videos, and basically spotted a gap in the market for free, copyrightsafe music for all content
Going with the stream
This month we speak to Billy Woodford, founder of NoCopyrightSounds, a record label that produces copyright-free music for gamers creators. It went from there really. I started the channel in August 2011 and began the label, working with artists in November 2013. WHAT EXACTLY IS YOUR BUSINESS, AND HOW DOES IT HELP PEOPLE? With one and a half million YouTube subscribers, NoCopyrightSounds is a modern version of a record label. Content creators can use our entire catalogue without plagiarism issues, or having to pay royalties. A pretty simple premise, but there has been nothing around to meet the need, and the number of content creators on YouTube and other streaming sites is continuing to boom.
WHAT ARE THE BIGGEST CHALLENGES YOU HAVE FACED, AND HOW DID YOU OVERCOME THEM? The main challenge for me was being confident enough to leave my stable job, and go all out to pursue my idea and continue its impressive growth. I found it hard to describe what I was doing to my parents, and explain what my brand does, and the potential it had to achieve. I also found it daunting at the start when realising I was on my own; I had no contacts and very little knowledge of the industry. I just knew that I was on to something. Regardless of the initial challenges, I have witnessed many benefits of being a young
entrepreneur, especially the more I get to go out and meet people in the same industry. In certain areas of the business, I need to make a decision on something; when I see the growth/positivity of that decision for the brand, it gives me confidence, and that motivates me to try harder and keep pushing forward. I’m now independent, and much more self-reliant than I ever was before I started up WHAT ADVICE WOULD YOU GIVE TO ANYONE WANTING TO START THEIR OWN BUSINESS? Be passionate and believe in what you are doing. One of the biggest tips I’d give, aside from that, is to make sure that you have a good level of support around you, and don’t be afraid to seek advice from people with more experience. As any young entrepreneur will admit, to grow a business, a mentor always helps. HOW DO YOU EXPECT YOUR BUSINESS TO DEVELOP IN THE FUTURE? I want to carry on with our steady growth, and then take on the world to become one of the major modern music labels and the dominant brand for content creators looking for new – and free – music. Simple! I’m also really interested in events and getting to engage with my audience in the flesh, so watch this space... Contact: www.nocopyrightsounds.co.uk
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27/05/2015 10:36
SUCCESS
Don’t be shy when it comes to asking for help. If your bank can’t help with your particular requirement, then ask what alternatives it can recommend, and if it can provide an introduction
Lessons learned Bradley Smith, entrepreneur and owner of Bradley Smith Hair, shares the seven things he’s learned when it comes to securing finance for his business
LOOK BEYOND THE BANK Although my high street bank seemed to be the obvious first port of call to find out what lending options were available to me, I learned that it was not my only option when I needed a loan, and that I shouldn’t give up if they said no. Unsecured lending to micro businesses is currently very low, so experience has taught me not to be surprised if my request for a loan isn’t approved straight away, or is even rejected outright. But just because this happens, it needn’t spell the end of my business expansion plans. The world changed when Lehman Bros collapsed in 2008. Traditional banks became less willing to lend to small businesses such as mine. Gone are the days when banks are the most appropriate option to support you
all the way to becoming a national high street chain, through the provision of finances. ASK FOR HELP AND ADVICE Don’t be shy when it comes to asking for help and advice. If your bank can’t help with your particular requirement, then ask what alternatives it can recommend, and if it can provide an introduction. It’s useful to ask around; you never know where a supplier, friend, neighbour, or fellow business owner might have secured money from. I heard about the company which now provides my merchant cash advance, Liquid Finance, through my furniture supplier. Brokers specialising in small business finance are also a very good source of assistance.
32 June 2015
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27/05/2015 10:38
SUCCESS
READ UP ON THE SUBJECT Acquiring finance in the current economic climate can be a daunting task, with seemingly few options available to micro and small businesses looking to build or expand. However, I’ve learned to be brave, and research what’s out there. While the names of the new alternative sources of funding might sound unfamiliar, it doesn’t mean they are not bona fide. Challenger banks, business or merchant cash advance providers, peer-to-peer lenders, crowdfunding, specialist invoice discounters, and the like are keen to help well-run businesses. Find out what’s out there and
step to ensure the company was credible and had a good reputation. It’s also advisable to check out if your broker is a member of the NACFB. The other common sense rule is, as far as possible, to try and compare at least two sources of finance, their rates, fee structures, and generally try and gauge who you feel most comfortable with, and who you would like to work with. PLAN AHEAD Through experience, I’ve learned to try to plan ahead, and not leave raising a loan until the very last minute. If, like me, you have a healthy history of credit and debit card
Many finance providers will make a decision and release the cash to your bank in as little as five to ten days - but be warned , many others need a lot longer
learn how they work, then you will be more prepared when you start speaking to them about your needs. USE COMMON SENSE AND CHECK OUT YOUR LENDER It seems obvious but I became very aware that I needed to be comfortable with who I was dealing with. Do your homework, and check out your lender. For example, I wanted to know that my finance provider was regulated by the FCA. This was a reassuring first
payment transactions, then there is no reason why the future shouldn’t be the same. Many finance providers will make a decision and release the cash to your bank in as little as five to ten days - but be warned, many others need a lot longer. If your project or need is urgent, it is vital you get proceedings under way with as much time to spare as possible. BE ABLE TO ARTICULATE CLEARLY HOW YOU’LL USE THE FUNDS It’s proved really
valuable to be able to articulate the vision for my business, so I can explain exactly what I want a loan for, and how it will be paid back. I’ve found that it works best if I ask for funding in order to boost the strength of my business, such as refurbishment and expansion (advertising or purchasing additional stock would also work well). So far, I’ve used funding from my merchant cash advances to improve the layout and look of my hair and beauty salons, as well as to open my third salon. Consequently, I’ve seen turnover increase by around 20%. I’ve also discovered that it suits me best to have repayments set against a daily percentage of my businesses takings, and a repayment cycle that follows my cash flow. This means, when my takings are low I pay back less and vice-versa. I find this so easy that I am freed up to get on and concentrate on running my business. Sometimes I haven’t even realised the repayments have come to an end! DON’T GIVE UP The most important thing I’ve learned is to not give up on my dream, just because the bank wouldn’t support me. I have my sights set on a fourth salon for this year. I am building my brand, and have found an alternative finance partner to stand alongside me. Contact: www.bradleysmithhair.com www.liquidfinance.co.uk
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28/05/2015 10:05
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ENGLISH HEART
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22/05/2015 09:31
LATEST releases
SUCCESS
BOOK reviews Breaking Big:
The Business Doctors’ No-Nonsense Guide To Achieving Breakthrough Growth For Your Business by The Business Doctors (Matthew Levington and Rod Davies) Our verdict: About the authors: Business Doctors is a national business support network, dedicated to helping small and medium-sized businesses achieve their vision. We say: The book contains practical steps to help readers quickly and clearly review where their business is at the moment, and
Build Your Business in 90 Minutes A Day
by Nigel Botterill and Martin Gladdish Our verdict: About the authors: Nigel Botterill is a British entrepreneur who built eight separate million-pound businesses from scratch in eight years. He is also the author of The Botty Rules. Martin Gladdish is a freelance writer, business storyteller, and author of The Lazy Optimist. He is also an amateur magician. We say: A practical guide for small business owners, Build Your Business in 90 Minutes A
We’ve got one of each book to give away FREE. Be the first to follow and tweet us, quoting the book name @TalkBusinessMag and we’ll send you a free copy!
decide where it should be going. From helping you to maximise your business capabilities to finding and exploiting the competitive edge of your business, Breaking Big is an easily readable and enjoyable guide that draws on the vast experience of The Business Doctors team. The book is based on a ‘boot-camp’ style, providing workouts to wake up small business owners and inspire them to kick their business into top gear. For owners of small businesses, who are looking to grow, get more customers, and increase profits (and let’s face it - who isn’t?), Breaking Big is for you. Breaking Big is published by Capstone, priced at £12.99, and is available as a paperback or eBook.
Day aims to show entrepreneurs how they can dramatically accelerate business growth by just dedicating a small amount of time each day to getting and keeping customers. The book tells the true stories of entrepreneurs who adhere to the book’s central theme. As well as providing advice on issues such as time management and avoiding procrastination, the authors identify seven essential rules for business success: plan ahead; environment matters; the 80/20 principle; regularity; clarity; deadlines; and the stuff you could (and should) do. Build Your Business in 90 Minutes A Day is published by Wiley, priced at £12.99, and is available as a paperback and eBook.
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10/02/2015 12:50
FINANCE
Going it a-loan Talk Money’s Adam Aiken advises you to do your homework properly before borrowing any money this month
Not all the best deals are available via brokers however, and you need to remember that you’ll ultimately pay a little more for a loan obtained this way
R
aising finance is often one of the first headaches a business faces. Some people argue that starting off in debt is a no-no, while others preach the ‘speculate to accumulate’ message. We’ve all heard stories of entrepreneurs betting everything on a project - re-mortgaging the house, and maxing out their credit cards in order to get their big idea off the ground. But if your initial borrowing needs are more modest, there are several avenues you can consider:
START-UP LOANS One of your first ports of call should be the Government’s Start-up Loans Company (www.startuploans.co.uk), which is very competitive. You can apply for a loan of up to £25,000, at an interest rate of 6%. The average loan size is £6,000, but the amount you can borrow will be determined by your business plan. Importantly, the loan is unsecured, which means, unlike with a traditional bank loan, you’re not going to lose your house if you run into difficulties. Kevin Horne, chief executive of a regional enterprise agency in the east of England, said, “This Government-funded, unsecured lending is better than anything you’ll ever get from a bank. As well as a loan at a competitive rate, you’ll also get a mentor, who can help you through the early stages of setting up a business.” HIGH STREET OR BROKER? If you want to take out a commercial loan, you can go direct, or use the services of a broker, both of which have their pros and cons. If you go direct, a good existing relationship with your bank could prove useful. But consider the other banks, too - spending an hour in any town centre should give you time to pop into half a dozen banks and ask for their literature on business loans.
On the other hand, good brokers will know which lenders are most likely to help someone in your particular position, and they’ll be able to help with the paperwork to give you the best chance of a successful application. Not all the best deals are available via brokers however, and you need to remember that you’ll ultimately pay a little more for a loan obtained this way. FLEXIBLE OR FIXED? If you opt for a loan with an interest rate that can go up and down, you might be able to get a cheaper initial rate. Bear in mind though, that the Bank of England base rate’s next move is likely to be up. That move might still be far off, but you need to make sure you can cope if interest rates do start to rise. A fixed rate is likely to cost you a little more each month, but you’ve the peace of mind that repayments will remain the same even if rates do start to rise. There could be other things to bear in mind, too. For example, some flexible loans might allow you to make overpayments, or finish the term of the loan early if you suddenly find yourself in a stronger cash position than you envisaged. Contact: www.talk-money.co.uk
MONEY talkbusinessmagazine.co.uk 37
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CONSIDERABLE Asset Based Lending from ABN AMRO Commercial Finance is the smart way to raise greater funding for your business. Working with you, we can help unlock the hidden value of your assets and allow you to grow with confidence. To see how we can make a considerable difference to accelerating your business plans, contact our dedicated team on: 0808 274 0710
www.abnamrocomfin.com/gbr/en/ABL
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28/08/2014 07:59
FINANCE
Stocking up for growth Dai Rees, director of Creative Capital, looks at trade finance - a form of funding that helps successful SMEs to acquire the stock needed to fulfil increased demand
H
ow many small business owners have looked at the financial instruments available to corporate and midmarket businesses, and wished their enterprise was just that little bit bigger? With scale comes access to more funding options, but some facilities, which are well-suited to SMEs, are not being offered by traditional lenders. This lack of availability is often not related to either increased risk or restricted capital. Sadly, it’s often a case of simply not being worth the time and effort required to structure tailored facilities for smaller customers, as they present limited income generation opportunities. This has left a clear gap in the funding market, which alternative lenders are more than capable of filling thanks to their flexibility, speed of response, and appetite to support SMEs. Trade finance is a clear case in point. It’s often the ideal solution for successful businesses that have secured a sizeable new contract, but need a working capital boost to acquire the stock necessary to fulfil the agreement. As supply chain finance has not been traditionally offered to SMEs on a transactionby-transaction basis, many
Trade finance resolves the pinch points generated by rapid expansion bridging the gap between securing an order, purchasing significant quantities of stock, and receiving payment
companies which could benefit are unaware that it’s available. In some instances this has led to missed opportunities, as management are unable or unwilling to take on the kind of larger scale contracts that unlock transformative growth. BACK TO BASICS Trade finance resolves one of the most common cash flow pinch points generated by rapid expansion - bridging the gap between securing an order, purchasing significant quantities of stock, and receiving payment from the customer. This can be a major limiting factor for successful companies whose cash flow or existing facilities are not able to support demand at the levels they are experiencing. Trade finance is relevant to businesses which have reliable customers lined up, the purchase orders or contracts in place, but lack the working capital needed to buy stock at the required levels from suppliers in the UK, Europe, or globally. As facilities are secured against the stock, the amount which can be loaned is intrinsically tied to the value of the goods. This enables up to 100% of the landed cost price of the finished goods to be funded. SMEs can typically access trade finance within the range of £25,000 to £300,000 on a
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FINANCE
We often hear of SMEs who have had to decline larger contracts due to lacking the sufficient financial headroom needed to buy stock in the volumes required to fulfil them
deal-by-deal basis, although alternative providers may be able to flex based on a specific company and its requirements. The lender retains title over the goods until payment has been received, releasing the stock in tranches as it is required. TRADING UP Trade finance brings a range of benefits that would otherwise be hard for SMEs to secure. The manner in which facilities are structured means funders can provide transparency over total cost of finance. This certainty allows businesses to price it more easily into contracts, effectively ensuring that it pays for itself. It can also significantly boost an SME’s buying power, allowing companies to negotiate deals with suppliers that would otherwise be beyond their reach. Taking advantage of opportunities to acquire stock at preferential rates or terms is typically the preserve of larger buyers with the financial firepower and reputation to do so. Trade finance can enable a smaller business to purchase more stock and increase profitable revenue, or negotiate prompt payment discounts, buying goods at more competitive prices, thereby increasing margins. It also has a number of tangible knock-on effects, which benefit companies in a high-growth phase.
Removing stock purchases from the cash flow equation makes much needed capital available to re-invest in other areas of contract fulfilment or sales generation. It can also free-up valuable administrative and management time. Trade finance providers are capable of handling the entire process, from purchasing process payments, looking after the shipping, arranging insurance, and managing the logistical paperwork, right through to organising warehousing, and pre-shipment inspections. A FLEXIBLE FUNDING FUTURE As trade finance arrangements remain off balance sheet, SMEs can easily deploy it alongside other types of finance, such as overdrafts and invoice finance. This can help companies whose existing facilities are at a maximum, or who want to use it tactically, as a seasonal credit topup. Businesses can also combine facilities in a ‘round robin’ manner to provide sustained cashflow advantages. Firstly, they use trade finance to buy the stock needed to fulfil an order and, once the customer has been billed, advance cash against that invoice through selective invoice finance. They then use these
funds to settle the initial trade finance facility, allowing them to ‘go again’, and establish a continuous funding cycle capable of supporting significant growth. We often hear of SMEs who have had to decline larger contracts, due to lacking the sufficient financial headroom needed to buy stock in the volumes required to fulfil them. It’s vitally important to the wider economy that smaller businesses are able to access a broad a range of financial tools to facilitate their growth. Established providers are not meeting this need, as their inflexibility means that priorities often lie with customers who provide significant income opportunities across their product portfolio. SME-focused alternative lenders are set up to be more nimble, with shorter decision making chains, and a clearer focus on the requirement that’s in front of them. They will look at a deal on its own merits and, in many cases, can make a rapid lending decision, based on the strength of a business and the quality of the specific growth opportunity. This simplified and honest approach to funding could very well be the key to unlocking growth for a huge number of SMEs. Contact: www.creativecapitaluk.com
40 June 2015
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27/05/2015 10:54
Women achievers congress Success Resources will be hosting its first every UK Women’s Achievers Congress, created around the aim of inspiring, empowering and helping women succeed. This event will be featuring some of the greatest female motivational speakers and entrepreneur in the world, with Kim Kiyosaki as the headliner. Date of the event: 4th and 5th of July 2015 Time: 9am -7pm Location: Ibis Hotel, Earls Court, London After huge success in USA and Singapore, it was time to bring it for the audience of United Kingdom. Event attendees will learn how to become financially independent, grow their businesses and build a solid understanding of financial processes. With currently trending topics about equal rights and equal pay for both genders, the panel of speakers will be a great addition to this contemporary British discussion. We are bringing Kim Kiyosaki, who is a major ambassador of women worldwide. Kim Kiyosaki loves the phrase from “Wife” magazine-“A man is not a financial plan”. She highlights the importance of financial freedom, wise investments and ongoing education for women around the world. Kim Kiyosaki is an author of world famous books “Rich Woman”, “Its raising time”. She appeared on a numerous TV shows and as a host of “Rich Dad” TV programme. Since 1992, we have supported individuals, enterprises and organizations through educational programs around the world, impacting the lives of hundreds of thousands from more than 35 countries. We continue to help them live, learn and succeed not solely for their personal fulfilment but also to share their experiences to grow future generations. Kim Kiyosaki will be accompanied by other speakers who are experts in their own fields (This will be confirmed through our website). There will also be opportunities to meet our panel of speakers, ask them questions and there will also be a book signing. Please check our website for more information or to book this life changing event. For more info: http://richwomanuk.com/
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27/05/2015 11:07
FINANCE
Feeling deflated? KPMG Enterprise’s Jonathan Boyers delves deeper into what deflation means for the UK’s SMEs
Debt grows quicker under deflationary conditions something SMEs carrying large volumes of debt might need to be wary of
T
his year we’ve seen UK inflation drop from 0.5% to a flat 0% - the slowest pace since records began for the consumer price index in 1989, with the very real threat of falling into negative territory. But what does the fall really mean? Is there such thing as good and bad deflation, and what impact does deflation have on the UK’s small and medium-sized businesses? In its raw form, deflation is the reduction of the general level of prices in an economy - meaning the value of money actually increases rather than decreases (as is the case under inflation). Essentially, deflating prices may appeal to the consumer, and may boost consumption, but this is potentially only in the short term. Delving deeper, it becomes apparent that there can be both good and bad effects of deflation, which can be different for consumers and suppliers. For example, when the price consumers are paying for goods is falling, in comparison to their rising wages, it means they will have more money to spend on goods produced by UK SMEs. What also needs to be considered however, is this falling price means the value of money increases, but the value of debt also increases. So in real terms, debt grows quicker under deflationary conditions something SMEs carrying large volumes of debt might need to be wary of (more on this below). WHERE IS THE DEFLATION COMING FROM? The fall in the inflation rate has primarily been driven by food, oil, and energy prices.
42 June 2015
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FINANCE
The worry for businesses is that once a deflationary psychology takes hold, consumers will create a bargain mind-set, resulting in customers who are always wanting to squeeze down prices Falling food prices in the UK reflect a global over-supply and lower prices of agricultural commodities, while falling oil prices have been driven by a rise in production, representing a change in the behaviour of key suppliers. Clearly, if these prices were to continue to fall in the long term, it would start to have an impact on other general goods within the index, as production becomes cheaper. However, even now we are starting to see oil prices begin to recover, and this is expected to continue. DEFLATION VS. WAGES So, if it costs less to fuel our cars and ourselves, what’s the problem with deflation? Well, there’s no serious problem yet, but with prices dropping across the board, the real issue will arise if wages follow suit. At the moment, wages are actually rising, albeit rather slowly. So for now, with wages rising and goods prices stable or falling, consumer money is going further. What’s more, the money businesses are saving in supply bills can be passed on to employees, again through better wages. In a nutshell, the volume of consumption is going up and, as a result, economic activity is gathering pace. ‘GOOD’ AND ‘BAD’ DEFLATION It’s not all doom and gloom, as Mark Carney, Governor of the Bank of England, likes to emphasise. Talking recently, he was quick to dispel fears of ‘bad’ deflation, claiming that 68% of the underlying categories of the Consumer Price Index (CPI) are actually rising in price. Whilst in other industries, prices are
rising in line with real household incomes, it’s the drastic fall in the price of oil, energy, and food that is having such a huge impact on the inflation rate. However, with unemployment falling, and the labour market booming, it means that wage inflation is actually more likely to rise than fall or stagnate. THE EUROZONE We have a good example of what we can potentially expect by looking at our friends on the continent. There’s already been widespread deflation in the Eurozone, with prices down 0.6% compared with last year. This is great news for many convalescent European countries: for example the oil-driven price drop has freed up cash for consumers, and has seen France’s consumer spending rise 1.5%. This situation has resulted in quantitative easing and a weakening of the Euro - making it cheaper to import from the continent, and further boosting consumption. However, through cutting the prices of European imports, along with the growing value of the pound, this could result in the UK being priced out of continental trade. On balance, the net effect is likely to be positive for UK output and employment, with an improving Eurozone economy - but the price war is something to be mindful of for UK-based SME manufactures especially. SO, WHY COULD DEFLATION BE BAD NEWS FOR SMES? The deflation on essential prices that we’re currently experiencing is great for the consumer, and is building much
needed confidence in the UK economy. It’s often said that the confidence of SMEs is affected greatly by the performance of the economy as a whole. However, the worry for businesses is that once a deflationary psychology takes hold, consumers will create a bargain mind-set, resulting in customers who are always wanting to squeeze down prices, and will wait it out for a bargain. Consumers become too savvy to the falling prices of goods - not just on food and fuel as at present; they begin to hold out for goods such as cars, kitchen appliances, and carpets too. These hold outs for mass sales have become more apparent with the likes of Black Friday and Cyber Monday now being recognised as two of the biggest trading days in the UK. This mentality could result in lower consumption, slowing economic activity, and potentially even lead to loss of jobs. For business owners up and down the country, long-lasting deflation is a frightening prospect. It’s important that SMEs recognise the potential pitfalls in deflation, and look at ways to persuade customers to not fear consumption. In short, SMEs need to combat the ‘snap up a bargain’ mind-set to ensure healthy trade during a period of deflation. So if the UK economy does go through a period of falling prices - as many financial experts are predicting - the official view is that it will be temporary and, indeed beneficial. When the effect of the current fall in oil, energy, and food prices drops out of the index a year from now, it’s anticipated inflation will rebound. If it doesn’t? Well, that’s a whole new ball game. Contact: www.kpmg.com
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FINANCE
Apart from delivering control back into the organisation, a credit risk management culture will also reassure suppliers and financial partners
Risky business Tinubu Square’s marketing director, Sebastien Clouet outlines how UK companies can adopt a best practice approach to help them implement a smart risk culture
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t might sound surprising to associate the notion of culture with credit risk management, but to have an efficient risk management policy, companies have to identify what drives different risk behaviours, especially as we trade out of the economic slump. In fact, the global financial crisis drew attention to the importance of such a notion and prompted an increasing number of businesses to put smart risk culture at the heart of their financial processes. So what are the benefits of a smart risk culture? In short, companies can take control of outstanding debts, get organisational buy-in to reduce their risk of financial exposure, be more selective about customers and, where relevant, control export activities. Here are some guidelines for achieving a smart risk culture that starts with improved practices:
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TAKE CONTROL OF OUTSTANDING DEBTS Monies owed, on average, amount to one third of the balance sheet. This is costly, in terms of the time spent chasing money and the effort to secure short-term financing. Look at adopting mechanisms that automate the credit management and control process.
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GET COMMITMENT FROM THE ENTIRE ORGANISATION The only way to effectively implement processes for identifying, analysing, and managing your exposure to risk is by involving all staff connected to the process, from credit controllers through to sales teams (in other words, the order-to-cash cycle).
IF APPROPRIATE, CONSIDER TRANSFERRING RISK TO A CREDIT INSURER By purchasing a credit insurance policy, you will have access to data on your clients that will outline your risk exposure and allow you to make informed business decisions. The recovery of past-due claims is in the hands of the credit insurer, and you receive compensation regardless of whether the debt is finally paid to the insurer, or not.
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BE SELECTIVE ABOUT CUSTOMERS Carry out detailed analysis of the organisations that you do business with, and the markets they operate in. Work with the sales team to qualify prospects, then make thorough credit checks, and implement robust financial negotiations. Create guidelines that enable you to decide between the benefits of a commercial relationship and the risks involved.
4
MONITOR EXISTING CUSTOMERS Ensure you track their financial health, and implement a faster response to negative information to reduce exposure to risk. Equally, if your intelligence tells you that their financial situation and credit rating has improved, relax your credit terms.
CONTROL EXPORT ACTIVITIES Outside factors, whether political, commercial, financial, logistical, or legal add to the risk environment. A credit risk management policy is useful for automating a significant portion of the most important processes, such as monitoring changes to the customer’s commercial environment, or even tracking changes in Terms and Conditions. Apart from delivering control back into the organisation, a credit risk management culture will also reassure suppliers and financial partners (credit insurers, banks, etc.), allowing them to feel confident about their working relationship with you. Contact: www.tinubu.com talkbusinessmagazine.co.uk 45
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21/05/2015 16:14
STRATEGY
You can’t have your cake and eat it
Rich With ponders this particular intellectual gem
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recently had a chat with a client of mine, who is actually a friend (or in other words, someone who has managed to talk me into doing work for free), and he showed me a variety of websites that he was enamoured with. To my mind, they all looked a bit ugly; there was various screaming, emotive banners asking us to ‘buy now’ or ‘download here’. They were ordering us to do their bidding like an online prison guard. “But X company are killing it!” he said. And he was right, they were doing very well. But how could this be? Their product wasn’t the new Tesla, it was a teaching device for entrepreneurship, the likes we’ve all seen numerous times. And yet everything about them looked overdesigned - but there was almost an intentionally amateuristic approach. For some reason, the people buying this product don’t care about its appearance, logo, identity, or brand because they want that quick fix. Maybe they feel desperate about their life and need someone to tell them it’s going to be ok - or it will be as long as they buy this programme. Maybe a friend or rival extols the virtue of this programme and they feel compelled to follow their friend’s opinion. Whatever the reason, it’s apparent that people buy online for two separate reasons. Many business coaches will tell you not to waste money on expensive websites or brand design. And that’s true you shouldn’t waste it - you should invest it. However, that’s
limited to people who want a quick fix. If you’re selling a get rich/slim/ more business idea, then you can choose to get the message out there in a quick, effective, and basic way. Would you use the same brand strategy if you were Patek Philippe watches, or Wagamama? - it’s unlikely because the damage to the overall brand would be catastrophic. In Seth Godin’s recent article, Pretty Websites, he wrote that the people who convert on the ‘buy now’ sites have a different world view to those who don’t. The flip side is that those who don’t buy now, are far more likely to establish brand loyalty with a company. It’s the same principle as coupons in the Sunday magazines, or the flyers you get in your mail order contact lenses - buying on impulse doesn’t guarantee repeat business. Is your product the sort that will convert quickly, but unlikely to have innate loyalty attached to it, or is it something that you want to inspire devotion in your client base? Godin also believes you can’t have both. There’s no right or wrong, it’s just what you choose for your company. And to me, that’s how I see a brand it’s not something that people will be loyal to because they’re jonesing for a quick fix to their business for the next five minutes, but because they know, like, and trust the company. So which one are you? Contact: www.justgrow.co
Many business coaches will tell you not to waste money on expensive websites or brand design. And that’s true; you shouldn’t waste it you should invest it talkbusinessmagazine.co.uk 47
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STRATEGY
The design and layout of a workspace is something often overlooked by businesses, but creating an inspiring environment for employees can prove a powerful tool for growth
Andy Doig, chief operating officer at Webhelp UK, offers his top workplace design tips to help you motivate your employees
T
he world of work is changing. For business success, organisations require a motivated, engaged, and contented workforce. The design and layout of a workspace is something that is all too often overlooked by businesses, but creating an inspiring work environment for employees can prove a powerful tool in its own right for growth. Common practice for ensuring motivation includes anything from appealing career packages to generous bonus schemes. However, research indicates that innovative workspaces serve as a foundation for an effective, engaged workforce. Businesses that adopt collaborative workspaces are better equipped to ensure employee satisfaction and improved productivity. The way in which employees learn is also heavily influenced by the professional environment. The classroom set up may be the best fit for baby boomers, but ‘generation Y’ require a more creative, interactive way of learning. Creative workspaces can help inform training programs and promote effective learning for all generations. With that in mind, here are my top tips for implementing an
A happy home from home original, inspiring, and inventive working environment:
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DESIGN YOUR SPACE AROUND YOUR PEOPLE Take care over the level of detail in your design plans, think outside the box, and incorporate ideas that will be conducive to a motivated, engaged workforce. For example, if you’re a retail brand, you could create an on-site shop for training purposes. This will draw employees’ right in to the heart of your business, giving them an authentic customer experience, which is guaranteed to result in exceptional customer service.
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MIX UP YOUR BREAK OUT AREAS Avoid the dull staff room and opt for bright, colourful, and engaging spaces. For example, you could allocate space to be converted into a ‘house’, allowing employees to rest and recuperate in comfort similar to their homes. This will help them recharge their batteries and come back to work with a more positive attitude.
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ESTABLISH CREATIVE QUIET ZONES We all have days where we need some
down time. Why not create a seated garden, which acts as a phone-free zone so that employees know they have somewhere to go when they need it? Having a designated area like this will instil harmony among team members, as the option is there to leave the desk and take a breather.
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DESIGN PODS FOR INFORMAL GATHERINGS These small areas are best dotted around the workplace so that people can choose a different location each time. Changing surroundings encourages people to be more creative, so this is perfect for gathering employee feedback. Recently, Webhelp UK set about creating a state-of-the-art contact centre, in partnership with EE, with the aim of providing innovative and functional learning spaces which would promote productivity and motivation for up to 300 employees. All of the above have been incorporated into the contact centre, so why not try these tips yourself and watch your employees’ motivation grow?
Contact: www.webhelp.com/uk
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SPONSORED ARTICLE
A small business calling
V
oipfone are a company that not everybody has heard of. But, for 30,000 small business customers, a number that is growing by roughly 2% per month, the company is a godsend. With a Queens Award for Enterprise, glowing magazine reviews and legions of happy customers, the provider of big telephony to small business has flourished; “mostly on getting it right and word of mouth as we have never advertised,” says CEO, Colin Duffy. The idea for Voipfone, which offers enterprise quality telephony and features aimed at very small businesses, came from Lee Rose who was looking at teleworking as a way of reducing costs for his small web hosting business. “Having a fixed office was just so expensive, but we needed to keep in contact so as techies we built a small app to allow us to call each other for free over the internet we also gave it away for free to a few customers.” Colin’s interest began 20 years ago when he was at BT looking at the profitability and services for different customer segments.
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“For really small businesses with 1 to 5 lines, we didn’t offer them a great deal,” he explains, “We charged them more than residential customers and they got nothing in return but BT was so dominant they had nowhere else to go” However, it was when Colin and Lee met and started discussing the market; that it became clear that there was a real opportunity. Today, with 38 staff and over a 5 million turnover, the ethos for the business remains and the firm boast the same capabilities normally found in large enterprise PBX’s at a fraction of the price. “We build everything ourselves and the few bits we don’t that are crucial to our customers – such as telephones - we use supplied kit which we test to destruction - if it doesn’t work perfectly, we will not sell It.” quips Lee. One such relationship is Gigaset Pro, which Voipfone sells as both a wireless and desktop phone along with its service, “To say that we test it thoroughly is an understatement, in our opinion, it is the best wireless VoIP phone for small businesses
and it works seamlessly with all our call features.” The partnership also helps customers, “Gigaset Pro are extremely receptive to ideas and operational processes so that our customers can just get a phone delivered by courier, plug it in and it all works as expected.” “We have worked with Voipfone as a gold partner over a number of years and they have provided us with valuable feedback on our products allowing us to constantly improve on our feature sets. This enables us to provide users with an exceptional experience when using Gigaset Pro and the Voipfone service” says Keith Jackson, head of Sales and Marketing, Gigaset pro. Even with deep-pocketed rivals like Skype and WhatsApp, Voipfone is still growing, “Our customers are like us in many ways,” says Colin, “They want good customer service and for things to work for their benefit and not the other way round – we have great technology, fantastic partners and we’ve found our niche!” Interested? Contact Keith at Keith.jackson@gigaset.com
20/05/2015 13:33
STRATEGY
A helping hand Alice Weightman, founder of The Work Crowd, looks at how you can gain a competitive edge by using freelancers
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STRATEGY
The biggest consideration especially for businesses on a tight budget - is deciding when to make the leap and take on a freelancer
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n an increasingly competitive global economy, embracing freelance talent can give firms the competitive edge they need to get - and stay - ahead. However, while eight out of every ten employers now recognise that freelancers could be an important part of their workforce, knowing how to harness this talent can still remain a considerable stumbling block. Thankfully, this needn’t be the case. Here are a few simple steps all firms can take to ensure they find, and fully utilise the wealth of Britain’s freelance talent: WHEN TO TAKE THE PLUNGE AND HIRE A FREELANCER The biggest consideration especially for businesses on a tight budget - is deciding when to make the leap and take on a freelancer. Two key questions to ask yourself are: “do we have the capacity to do this work (or project) in house?” and; “do we have the expertise?” If the answer to either of the above is no, then it may be time to look for freelance support. DO YOUR RESEARCH Who you choose to hire will depend heavily on your business needs and reasons for hiring a freelancer in the first place - for example, whether you need someone to work with you on a project-by-project basis, or as
maternity leave cover. What specific skillset or experience are you looking for? Be clear with yourself about what is essential, and what’s not, and write the clearest brief you can so that you’re both on the same page from the very beginning. PLAN YOUR PROJECT It’s important to have a timescale for the project, with milestones and budgets that reflect the importance of each section of work.
Remember ‘value’ often doesn’t come at the lowest price and is totally different to ‘cost’! This is particularly crucial when working with somebody new for the first time, as it provides both parties with a clear progress report as things develop. Start with a small, less critical milestone with a smaller budget to test the quality of their work, and be sure to encourage the freelancer to flag any issues as early as possible, so that they can be addressed and rectified. Once they have produced some work, suggest amendments if you’re not happy, and give them the chance to improve.
MAKE THEM PART OF THE TEAM Trust is essential to any successful partnership, so it’s important to trust your freelancer in an operational sense. However, this can be more difficult than with an in-house member of staff, especially when you might not have regular face-to-face contact with them in the workplace. Minimise concerns by ensuring you treat them as another valued team member. Include them in meetings where possible over Skype, or a similar online platform, if necessary - and make introductions to those they will be working with as early on in the process as you can. BUDGET CAREFULLY Consider your overall budget carefully: too low might eliminate better candidates, but don’t make the mistake of making it higher than you can afford either, as this will put significant strain on both the relationship and your finances. You are asking someone to represent you or your brand, so aim to pay a fair price for quality work. Remember - ‘value’ often doesn’t come at the lowest price, and is totally different to ‘cost’! Contact: www.theworkcrowd.com
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STRATEGY
Flex your routine, not your wallet
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hen you work with a network of remote workers whether it be part time or full time - businesses often find it difficult to stay connected, and for those who work remotely, many find that rising utility costs can also become an issue. Therefore, staying connected and keeping costs down are integral aspects that shouldn’t be overlooked when you have staff who are flexible workers. Using software is a great way to overcome perceived communication issues with people who work outside the office because, contrary to popular belief, staying connected is relatively easy, and there are ways to avoid spending copious amounts of money for productivity tools and solutions. Free online instant messaging platforms for individual and team communication, such as Slack, provides nothing short of a full suite of features and integrations that are compatible with most tools that businesses already use. Through platforms like this, team members and colleagues can easily maintain communication between each other, at any location and on any device. The benefit of software products like Slack is that it’s purely online and cloud-based, which means that it doesn’t require downloads or administration rights. For businesses that require more collaborative solutions,
conferencing services are a valuable way to stay connected, as meetings can still run as scheduled and flexible working environments can still be maintained. Although this can become quite a costly expense, there are affordable options, such as Powwownow and Conference Genie, which help businesses keep costs down by being a cost-free service where participants only pay for the cost of their call. Particularly with staff that work remotely, conferencing services have become an essential for businesses to stay productive and connected, as audio, video, and web conferencing provides a more personal and efficient way of working with colleagues and customers. If you’ve found that working from home or in a cafe isn’t a suitable environment for you, co-working spaces have been a recent trend that has helped staff maintain their productivity when they’re out of the office. Scattered around most cities, co-working locations have become a popular choice because most spaces provide a work desk with high-speed internet and a more controlled working environment. For most businesses, internet is imperative and, unless you have WiFi already installed,
or 10GB of data (or more) Flexibility is key that you can use as your personal hotspot, when it comes to co-working can be a more communication, cost effective solution, but so is keeping that suits flexible workers costs down by offering a number of payment options, such and staying as hourly, daily, or connected, says weekly bundles. Powwownow So for businesses that managing have flexible workers, utilising software solutions director, and alternative locations Jason Downes to their office has been a valuable way to stay connected and keep costs down, as cloud-based communication channels and conferencing services in particular, ensure that staff stay productive and businesses can run as usual. Contact: www.powwownow.co.uk
Scattered around most cities, co-working locations have become a popular choice because most spaces provide a work desk with high-speed internet and a more controlled working environment talkbusinessmagazine.co.uk 55
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27/05/2015 11:01
STRATEGY
Don’t discount vouchers Discounts harm your profits, right? Wrong! Mark Pearson, founder of MyVoucherCodes, reveals the top five hidden benefits for SMEs of offering a voucher code to customers
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orking as an SME demands many hats: you’re not likely to just be doing the job listed on your business card. However, when it comes to growing an SME user base, most marketers don’t think about using vouchers to attract and retain customers. Vouchers are proven as an effective user acquisition tool but historically, they were so time, budget, and energy consuming, they were only really available for big box merchants. Now, as consumers have become more price-savvy, and with the emergence in the past decade of sites such as MyVoucherCodes, SME’s can have a piece of the voucher pie too. So, here are my top five ways vouchers can help SMEs, that you may not have known about:
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COST EFFECTIVE MULTI- PLATFORM MARKETING One common mistake made by burgeoning or smaller companies is mistaking voucher codes as a way to boost short-term profits, rather than a long-term marketing and advertising
tool to increase brand exposure and customer loyalty. Relying on a specific number of sales to make the project cost effective is a bad idea; obviously you’ll want to break even, but don’t focus on the initial sales. Larger, established companies can use vouchers to give their sales boost, but without a large following of loyal customers, it’s hard for an SME to garner the same effect initially. A voucher code is a cross between an online version of a meal deal and a cheaper alternative to traditional forms of advertising, attracting new customers to your service. Start off by allocating a portion of your advertising and marketing budget to the coupon promotion. Then, as awareness of your brand grows due to exposure generated by your campaign, you should also see a growth in revenue.
2
VOUCHERS CAN INCREASE AVERAGE ORDER VALUE Don’t you just love a good bargain? Your customers do too. Psychologically, the process of finding and obtaining a discount makes consumers feel good. When they do, they often reward themselves. What this means for you
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STRATEGY
Don’t you just love a good bargain? Your customers do too. Psychologically, finding a discount makes consumers feel good, and so they often reward themselves. Potentially, this means more items in the basket
is, potentially, more items in the basket, as vouchers tend to encourage shoppers to spend more. Also, you can bank on increased average order value (AOV) by setting a minimum spend threshold for your discount voucher - for example ‘10% off when you spend £50’.
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INCREASED BRAND EXPOSURE Voucher codes put your product in front of an extremely receptive audience for a relatively low cost. Discount code websites tend to have large user bases. MyVoucherCodes’ campaigns are significantly lower cost than a TV advert campaign, and it can be argued that voucher codes campaigns are more effective, as consumers opt in and actively
seek them out. At least 50% of UK adults have used a voucher code in the past year; a massive slice of the market, which can be accessed using vouchers.
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VOUCHER CODES LET NEW CUSTOMERS KNOW YOU EXIST According to a comScore report, 35% of customers said they discovered a product by first finding a voucher code. This means voucher codes are incredibly useful when launching a new product or service.
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VOUCHER CODES CAN INCREASE LOYALTY AND ENGAGEMENT Regular voucher codes will keep customers coming back to you. Offer a discount code and
customers, new and existing, will start listening. And they’ll be more likely to start talking about your offering too; they’ll share your vouchers with their friends on Facebook, Twitter, and other online platforms, giving you even more exposure and increasing social media engagement. They’ll be more likely to write about their experiences in product reviews on your site, and on customer review sites, such as Trustpilot, too. Additionally, customers will be more likely to engage with you via your social media profiles. Voucher codes are the perfect way to facilitate that for a relatively small cost and a big gain. Contact: www.myvouchercodes.co.uk
At least 50% of UK adults have used a voucher code in the past year, and 35% of customers said they discovered a product by first finding a voucher code talkbusinessmagazine.co.uk 57
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27/05/2015 11:02
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MARKETING
Off the mark Marketing expert and founder of Sarsaparilla Marketing, Kimberly Davis explains some of the worst marketing mistakes most people make when they first set out
S
o, you want to start a business. You have a passion, a difference to make in this world, and it’s time you put it into action. Before starting though, there’s a few things you need to know to help you succeed. 80% of businesses fail within the first year, and 95% of businesses fail within the first five years. This isn’t because of lack of passion, hard work, or knowledge. It’s mainly because of deadly marketing mistakes that drain your cash flow. There are few things more heartbreaking to me than watching amazing people, with the best intentions, have their bank accounts drained, and their dreams destroyed. I have a list of more than 40 deadly marketing mistakes. To help you put the odds back in your favour, I’m sharing three with you here. MISTAKE #1 - YOU DON’T HAVE A PROVEN MAP Most people don’t fully understand what marketing is, let alone how to make money from it. If you’re going to have any chance of succeeding, you’re going to have to find someone who knows and understands exactly how to
get you from point A to point B in the quickest time possible. It’s vital that you start making money from day one, otherwise you’ll spend all your time being reactive instead of proactive. MISTAKE #27 - YOU START WITH A WEBSITE Before you can even think about creating a website, there are at least a dozen other things you need to have done first. 94% of websites don’t ‘work’ - meaning they don’t make you any money. This is mainly because website agencies have designers to make things look pretty and developers to stick it on the web, but they lack the most critical element the marketer, who’s going to give your website function, and ensure it makes you money. MISTAKE #33 - YOU’RE WASTING TIME, MONEY, AND ENERGY ON THE WRONG MARKETING All marketing is not created equal. In fact, most of it is pretty worthless. Shocking, I know, especially coming from a marketer. My philosophy is that marketing is like Italian cooking - you only need a select few excellent ingredients that work well
together to make something wonderful. The truth is, most of the things you need are free, but most marketing agencies don’t want you to know this fact. Many of the traditional, or accepted areas of marketing, such as advertising, blogging, and even SEO, are typically a complete waste of resources. If you do things right, and implement your marketing correctly from the beginning, then you won’t need to spend a penny on any of these things. If you’re serious about starting a business, make sure you take the time to do it right. Cutting corners only costs more in the end, and the mistakes can destroy you before you’ve even begun.
94% of websites don’t ‘work’ - meaning they don’t make you any money Contact: To learn more, visit www.sarsaparillamarketing.com and download Kimberly’s free ebook, “Deadly Marketing Mistakes That Are Destroying Your Business, Right Now”.
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MARKETING
So simple, so social Each month, social media expert, Richard Chapman, founder of Richard Chapman Studio, takes a look at a different social media platform, and examines how you can get the best out of it for your business. This month he examines a relative newcomer to the scene, visual discovery tool, Pinterest
F
or me, Pinterest is different. Different from the frenetic pace of other social media where, amid a constant bombardment of opinion, invective, and news, a business which wants to showcase new products or visual work can find their voice rather lost. By contrast, opening up a Pinterest page for a new project is rather like shutting the door on a crazy world and steadily building a story about something fresh and emerging. It’s particularly useful for building inspiration, as well as showcasing gorgeous photography of your work, or working process. Let’s first talk about inspiration.
for corporate identity projects, these messy heaps of cut up paper would gradually be pulled together into coherent themes, which would in turn inspire something totally fresh. The good news (for trees everywhere) is that the entire process can now happen online, without scissors and spray mount, harvesting the seemingly inexhaustible visual resources of the web. Secondly, let’s look at showcasing your work, in depth, from every angle. In the photography of your work, whether a standalone product, or creative project such as a new piece of artwork, a
this. However Pinterest suggests a different, more comprehensive process, potentially looking at your work, explaining its purpose, use, or a range of iterations. Essentially, it allows you to curate a complete visual story from beginning to end. WHERE DID PINTEREST COME FROM? A classic ‘kitchen table’ business idea in 2009, Pinterest was the brainchild of founder, Ben Silberman. A first prototype was completed in March the following year and tested by the friends and family of the owners and developers. Much of its success can be attributed to a huge
Pinterest has become hugely popular with women, and drives a huge amount of direct sales from the site: among other extraordinary statistics, Pinterest is the largest driver of revenue on Shopify Collating visual stimuli for my graphic design work has been a mainstay of a consistently familiar creative process, which began at art school. For many years this would be done by raking through design books and magazines, tearing, cutting, copying, and building ‘mood boards’ on huge sheets of foamboard. Particularly useful
vibrant poster for your business, or a story about a new activity you’re undertaking, it’s extremely unlikely you’ll produce just one image. More likely it’s going to be many, almost certainly built over time. By contrast, other social media increasingly favours the single image: most Facebook posts these days on a smartphone dictate
enthusiasm for user-testing and feedback as the site began its growth. Silberman later stated that, even when the site had thousands of users, he would still make a point of emailing each person who had signed up, for their views. Given its huge popularity today, it’s hard to believe just how slow its initial growth was. Indeed for
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It doesn’t require the constant, moment-by-moment updates, which many Twitter users seem to thrive on, so in that sense, Pinterest is a great media tool for time-poor business people some considerable time its users were in the hundreds or low thousands with a sluggish month-by-month percentage increase. However, during 2011 the site really took off as a very specific and unusual offering. In particular, it has become hugely popular with women, and drives a huge amount of direct sales from the site: among other extraordinary statistics, Pinterest is the largest driver of revenue on Shopify. Today, the site traffic is rarely made public, but there is little doubt it’s in the hundreds of millions. WHAT SORT OF BUSINESS IS IT USEFUL FOR? There’s no doubt businesses that work in the creative industries, or whose products are visual and constantly changing are best placed to take advantage of Pinterest. A site which thrives on the best-looking photos or graphics - if your business works hard at presenting its work in this way, there’s no doubt that this is the social media for you.
It doesn’t require the constant, moment-by-moment updates, which many Twitter users seem to thrive on, so in that sense, it’s a great media tool for time-poor business people. I believe it’s best used by setting aside specific time to devise beautiful story boards of work to get your message out there. HOW CAN SHARING IMAGES ONLINE LEAD TO SALES? Before talking about marketing, it’s important to focus on who Pinterest’s users actually are. It’s widely known that the vast proportion of them are women, and more often than not, women in the mid- and upper-range income brackets. Its users are like visual magpies, building board after board of images focusing on their key areas of interest - whether that be their home decoration, interest in fashion or shoes, gardens, travel destinations, or a never-ending series of sub-genres of food preparation. One of Pinterest’s cleverest moves has been to avoid the occasionally rather jarring ‘promoted posts’ so prevalent on
Facebook or Twitter. Instead it opened its doors to allow users to market their creative work on side-stores, such as eBay, Shopify or Etsy (among many others). This very simple approach did something deft: rather than feeling forced or artificial, it gave users of the site the ability to simply purchase the beautifully presented product they had found on the site in a relatively ‘non-salesy’ way. It gave users the ability to discover products they were interested in, and then move ahead with a purchase. It’s my belief that any business with a product to sell and a little imagination could make use of Pinterest simply and easily. A little research into ‘most pinned’ images in your industry or field will quickly make it clear the kind of approach that works best, then purchase a good quality camera and get snapping - and selling. Contact: www.richardpchapman.com
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MARKETING
Ad fab Gerd Mittmann, vicepresident, International at Shutterstock, looks at what start-ups need to consider before using images in ad campaigns
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MARKETING
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t’s often difficult for start-ups with limited cash flow to factor marketing and advertising into their budget. However, to build brand loyalty among users, and to be competitive, some form of brand identity and promotion is needed. Unsurprisingly, advertising initiatives are more competitive than ever, and capturing your audience’s attention is top priority. One study found total views increased, on average, by 94 percent if a published article contained a relevant image, compared to those without. When planning to use images in advertising campaigns, consider the following factors beforehand:
Pay attention to how much you’re spending, and how this correlates to conversions.
DEFINE MEASURABLE GOALS The first step is to determine the objectives of the campaign, define your audience, and how much budget you’re allocating to each advertising initiative. It’s critical to assign measurable goals to the campaign so you can learn what’s working and what isn’t.
TEST AND LEARN Social media campaigns are ideal for testing copy and imagery with your audience. Try split testing (also known as A/B testing) with images on Facebook and/or Twitter campaigns, to see results in real time and gain insight into what works. It’s important to test one variable at a time, and to continuously test variations so you can really learn how to optimise your campaign.
CHOOSE IMAGES THAT RELATE TO YOUR BRAND To optimise your campaign, carefully select high-quality imagery that is representative of your brand personality, as well as the campaign message. For example, if your brand personality is sophisticated and your goal is to attract new users through a holiday campaign, you’ll want to choose imagery that correlates to the theme of the holiday, in a welcoming and classy manner, rather than images that convey humour and are unrelated to the holiday.
FAMILIARISE YOURSELF WITH LICENSING TERMS Given there’s a variety of image solutions available for businesses of all types and sizes, it’s
best to familiarise yourself with the legal parameters of using imagery in your campaigns. Just because an image is on the internet, does not mean this image is free for you to use. Also, licensing an image correctly gives you the legal protection that the photographer has garnered the correct model and property releases, and there are no trademark infringements. A good rule of thumb is to license images from a reliable provider, such as Shutterstock. TAKE ADVANTAGE OF FREE RESOURCES Facebook’s advertising platform offers users access to Shutterstock’s collection of millions of images at no additional cost. These images are commercially licensed, and available for use in all Facebook ad formats, under the ‘stock images’ tab in Facebook’s ad creation tool. Each week, Shutterstock offers a free photo and vector for download under a standard license. Even if you’re not a subscriber, you can sign up for a free browse account to take advantage of these weekly freebies. This is a great way to start building a collection of image resources for use in campaigns or on your website. Contact: www.shutterstock.com
Just because an image is on the internet, does not mean this image is free for you to use in your ad campaigns
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ARE YOU FAST APPROACHING YOUR STAGING DATE?
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f so, allowing employer services (esl) to help you with the very first steps to Auto enrolment, will enable you to plan for, and choose your workplace pension scheme. esl’s expertise will enable you to take decisions at a reasonable pace with no stress or pressure. All organisations have a duty of care to their staff, not only to plan towards the AE staging date, but to provide an approved workplace pension for eligible employees. As smaller sized organisations (SMEs) prepare for Auto enrolment, it is important to understand that it need not be as scary as imagined. Here are 5 steps to choosing the right pension scheme for you 1 PENSION TAX RELIEF At payroll level the Payroll provider needs to instil confidence in their clients and prove they understand where the tax relief is credited to in order to reach the correct payroll calculations for your employees. 2 NATIONAL INSURANCE When an employee elects to have their pension contributions paid by the employer there is an
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offset available as an exchange for a reduction in salary. This ultimately means the employee saves on NI deductions. Higher rate tax payers may also benefit with full tax relief on NI contributions. 3 PENSION CHOICE There are many compliant workplace pension providers in the market, not just NEST. To name a few • Now Pensions • Friendly Pensions • Peoples Pension 4 DOCUMENTATION Documentation must be in place to prove all the considered options for your employees, demonstrating that you have put an approved workplace scheme in place. 5 COMMUNICATION Communication should be structured. esl will advise with the ‘roll out’ and will help you to ensure your employees know what to expect and when. Once you have made the right decision for you and your business you are ready to get started!
Identifying your staging date and designing a communication programme are the two main important steps, both of which employer services ltd can guide you with. Your staging date is the day which you must auto enrol all your eligible employees into a qualifying pension scheme; once you have been notified of this date by The Pension Regulator, esl can work with you and your pension provider to establish and create a timely project plan, ensuring you remain compliant and reach all the relevant mile stones with ease. This will avoid any headaches for you.
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28/05/2015 10:59
MARKETING
Corporate gifting: rewarding with the times
Corporate programmes have a role to play in areas such as staff retention, long service, training, product knowledge, and customer service
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1990
was a year of change. Margaret Thatcher resigned as British Prime Minister, the two ends of the Channel Tunnel met, the first web page was served after Tim Berners-Lee invented the World Wide Web, and music was now distributed on the new CD format. 1990 also marked the start of a period when companies began to realise the importance of corporate gifting as a serious tool for motivating, rewarding, and recognising clients, staff, and business partners. In the 25 years since Corporate Service at Harrods first emerged as a dedicated division of the world renowned store, a great amount has changed in the corporate incentives and gifting sector. The market has grown in size, and the success of this business tool to affect a wide range of behaviours is now widely recognised. The exact size of the corporate gift industry is hard to quantify accurately, however, expenditure follows a similar pattern to that of sales promotion, which grew from £3 billion in 1991 to £8.6 billion in 2000, according to Mintel. The Institute of Promotional Marketing (IPM) put a total value of £55 billion on the sector by 2013. Where once corporate incentives and gifts had a rather narrow application, of simply motivating sales people or thanking the boss of a client company, there has been a realisation in the past 25 years that incentives can be used more broadly to nudge behaviour across the organisation. Corporate programmes have a role to play in areas such as staff retention, long service, training, product knowledge, and customer service. In the last 25 years, new market sectors have emerged, including media and sports, with the more traditional sectors, such as banking, finance, and construction still very much key, to reflect the economy. Just as the world is ever changing, corporate gifting has also had to adapt to stay on par with trends. Customs
and cultures vary greatly around the world in all aspects of life, including the corporate world. Therefore it’s proven to be very important to carefully research a country’s culture and customs before selecting gifts to ensure a positive reception. Clients and customers appreciate well thought out gifts and attention to detail. Respect for other cultures shows a consideration and level of personal service that is greatly valued in today’s corporate gifting world. In addition, with global economies tightening, there has been a shift away from frivolous high-end reward and incentive items to more considered and bespoke luxury gifts that are tailor-made to the recipient, who can
This June marks Corporate Service at Harrods’ 25th Anniversary. The department takes a closer look at what makes corporate gifting an essential part of modern day business practice appreciate the personalised nature and quality workmanship of the gift. These gifts can be used practically and frequently, day to day - such as a finetooled leather bag or a designer winter coat - and are much appreciated and coveted for this reason. Another benefit of tangible, everyday use gifts is admiration and recognition by outside parties. The simple question, “Where did you get that beautiful coat?” can then lend itself to larger discussions about the product, and why the recipient was awarded with the item. For example, if the gift is a food item, such as a luxury hamper, often the recipient’s family shares in the experience, which is a key component of effective recognition and reward programs. Some corporate performance goals
are team related, and result in a group of individuals who came together to complete a project or meet a critical deadline. A beautiful food hamper can be proudly displayed and placed in a prominent area in the office, allowing a very visible, tangible demonstration of the sponsoring company’s appreciation of the achieved performance. What employee visiting the office canteen wouldn’t take a minute to stop by and sample the delicious foods prominently and proudly displayed? It’s a symbol of corporate appreciation and business goal achievement, and represents wonderful ‘trophy value’. Bespoke gifting is another trend that has emerged over recent years. Although it can be a little more time consuming, it’s worth it. Customers are constantly searching for the best way to tangibly recognise a valued employee or thank an important customer, and want the purchased gift or incentive to be instantly appreciated by the recipient. Customers want that ‘wow’ factor when giving a gift. Sadly, this will not be realised from a generic, one-size-fits-all type of gift, and in fact, it can backfire if the recipient perceives the gift to be somewhat thoughtless, as that is the absolute last thing you would want when thanking or recognising key business associates. Bespoke gifting on the contrary, always pays off by generating a guaranteed ‘wow’ factor and, more importantly, very positive memories and associated feelings for the sponsoring company, employer, customer, or vendor. As even more corporate gifting options emerge in 2015, it is clear that a quarter of a century has cemented the role of well-judged and appropriate activity in strengthening business relationships, motivating staff, and thanking partners. Corporate gifts and incentives will continue to remain essential to all business relationships. Contact: www.harrods.com
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MARKETING
Plug the holes in your lead funnel Getting good leads is a tricky business in the first place, so why do so many let them slip through their fingers? Paul Liascos, UK managing director at ReachLocal, explains how to exploit those you get
I
n an ideal world, every prospect would find you online, visit your website, contact you, and become a customer. In reality, only some of those prospects will turn into customers, which is frightening when you consider that the UK is the global leader for purchasing goods and services online. By identifying, and fixing leaks in your lead funnel, you can maximise the number that convert into sales. A lead funnel is made up of only three core parts: one where prospects ‘discover’ you; another in which they ‘contact’ you; and a third in which they ‘choose’ you. Each of these stages must be handled properly to make the most of every penny of marketing spend, whether you invest hundreds of pounds, or tens of thousands of pounds. Some customers are ready to buy, but others need nurturing. You must have the right tools in place to generate, nurture, and convert your leads. Here are our top tips to help you ensure leads are cultivated, and ‘leaks’ are plugged, in the sales funnel: HAVE A WELL-DESIGNED, SMART WEBSITE It must be clear, easy to navigate and intuitive, particularly when
it comes to finding contact information. Most of all it needs to be mobile friendly, so it looks good on the many different devices available. OFFER MORE THAN ONE CONTACT METHOD Many people searching for services may not immediately telephone you, especially if they’re at work, or it’s outside of business hours. Provide email forms, live chat, and social channels to make it as easy and convenient as possible for people to contact you. CAPTURE CUSTOMER DATA ON EVERY CHANNEL One of the biggest leaks in the sales funnel is caused by a failure to capture customer data. If you don’t know who your prospects are, you can’t understand how they found you, and you can’t follow up to convert them into sales. Wherever possible, capture contact details, such as the prospect’s email address. CONSIDER AUTOMATED MARKETING SYSTEMS As lead numbers increase, it becomes more difficult to manage customer contact, particularly if you’re trying to manage other areas of the business too. Automated marketing systems
Some customers are ready to buy, but others need nurturing. You must have the right tools in place to generate, nurture, and convert your leads can be a way to relieve the pressure, by taking care of tasks such as building customised, branded, lead-nurturing emails; and keeping the sales team reminded of active leads. SUPPORT SALES STAFF WITH THE RIGHT INFORMATION, WHEN THEY NEED IT MOST Consumers expect to be contacted quickly when they make an enquiry - 55 percent of people make a buying decision within one hour of an online search. Make sure the processes and systems are in place to provide timely notification of new contacts, pushed to staff mobile devices. This is just a taste of the key components in a watertight lead funnel. You can learn more at www.dontleakleads.co.uk. Contact: www.reachlocal.com/uk/en
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MARKETING
Deal with it Alison Shadrack, marketing expert at Adia PR, asks, “Should you consider a Groupon deal for your business?”
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aunched in Chicago in 2008, Groupon has grown at a staggering rate, and now operates in 47 countries, over 1,000 cities and with in excess of 950,000 partners, 53.9 million customers and 260 million subscribers - not bad for six years work! If you’re not familiar with Groupon, let me explain why you may want to consider adding it - and indeed, other daily deal sites - to your marketing strategy. Groupon’s first deal was a half-price offer for pizzas for the restaurant on the first floor of its building in Chicago. Now, with its segmented subscriber base, it can offer multiple deals every day. Generally, a deal is a discounted offer of at least 50% on a product or service. Groupon promotes the deal to a targeted group of subscribers on its website and via daily emails. If enough people sign up for the offer, then it becomes available to all; if the predetermined minimum is not met, no-one gets the deal. The seller doesn’t lose out as there are no up front costs to pay, and they still benefit from the exposure and promotion gained. If the deal goes ahead however, Groupon takes a 50% fee from your revenue. So, if your service or product is usually priced at £100, you’ll offer a discounted deal (normally at least 50% off)
of say, £50. Groupon will take 50% of that, leaving you with £25 per deal. Good deal or bad deal? That depends on how you manage the deal, the customer, and the longterm view. The main benefits of using Groupon include: INCREASED BRAND AWARENESS Thanks to the incredible reach and demographic profiling, Groupon will help promote you to your target audience. The more positive exposure your brand achieves, the more you’ll be front of mind when your target audience need something that you offer. AN ADVERTISING CAMPAIGN THAT BRINGS IN SALES Traditional advertising is never cheap, but many businesses invest in it as part of their wider marketing strategy. They don’t expect one advert alone to bring in multiple sales. Groupon however, offers the opportunity to place your product or service in front of a huge target market with no up front costs - potentially saving you thousands of pounds in marketing spend. If there’s no uptake of your deal, you pay nothing. If you get your maths right, you’ll only
This is the ultimate goal for most sellers on Groupon, but it makes even greater sense if you need to shift slow-moving items or end-of-year stock that is taking up storage space stand to gain from bringing in new customers. GAIN NEW CUSTOMERS AND SELL MORE This is the ultimate goal for most sellers on Groupon, but it makes even greater sense if you need to shift slow-moving items or end of year stock that is taking up storage space for new products. Price deals are favourable with inexpensive products and sellers with low cost of goods sold. In this way you’re more likely to have a deal that doesn’t cannibalise
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Rather than making money, some businesses have failed spectacularly and ended up massively out of pocket. It’s imperative to think your deal through carefully before going ahead
sales to existing customers. This should be something you do for only a limited period, and if you do repeat the deal, it’s worth testing out different deals to see which work best for your business. Don’t forget - the key to making the deal worthwhile is to convert these new prospects into repeat customers. BUILD YOUR DATA/ MAILING LIST You’ll receive the customers’ details and, although you shouldn’t add them straight to your mailing list, you can, and must ask. Ask permission when you send them an email confirming the service or product they purchased. Make it worth their while by offering an incentive, such as a free guide, sample, or coupon. COVER FIXED COSTS AND GENERATE INCREMENTAL REVENUE Businesses with high fixed costs, such as hotels, can do well out of discount deals. It’s better to have a full house than empty rooms, and there will be plenty of opportunities to up-sell extras at full price, such as breakfasts. Of course, there are potential problems with using Groupon too,
moving items that disprove this. Rather than making money, some businesses have failed but with careful planning these can spectacularly and ended up be prevented or minimised. massively out of pocket. It’s imperative to think your deal TOO MUCH DEMAND through carefully before going A successful deal could temporarily ahead. Look at your costs and see swamp a small business with how you’re going to make money too many customers, risking the on the promotion. possibility that customers will be Granted, some of the discount dissatisfied, or that there won’t be deal customers will never become enough product to meet demand. regulars, but repeat business can be Some hair and beauty salons encouraged with these strategies: have complained about their • After the service, invite the experiences with Groupon, as the customer to sign up for your people who signed up for their newsletter/email to receive deals came in for the treatment further news and offers from and didn’t buy anything else or you directly. return to the salon. They priced • Ensure staff engage with the the deal such that they lost money, person, and are briefed on how and didn’t manage to convert that to up-sell and cross-sell other person into a client; a loss of time, products and services. effort, and money. This can be • Give the discount deal customer avoided by placing a cap on the the same standard of service deal. You may also restrict the deal and care as you would your to certain quieter periods of the best customer. You’re looking day, so you’re not taking up your to wow them, and ask them existing clients’ appointment slots. to leave a review after. If they walk away unimpressed and CREDIBILITY write a negative review, that’s Discounting your product or only going to damage your service is generally frowned on reputation with your regular as it can effectively cheapen your and prospective clientele. brand. Some consumers may think If you do your homework and put that, if you can sell your product together a deal that works for your for £50 instead of the normal business, even if sales go through £100, then they’re being ripped the roof, then Groupon could off paying full price. But there become your new best friend. are plenty of discounted designer shopping centres around the world Contact: selling end-of-season, or slowwww.adiapr.co.uk
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27/05/2015 17:23
Avoid costly legal fees Talk to a solicitor before your issues become problems At Hodders Law we are in business to help your business. We deal with businesses every day that have got into costly legal difficulties because they have not sought legal advice at the outset. Some examples of theses issues are: • STARTING A NEW BUSINESS, AND ENTERING INTO SHAREHOLDER OR DIRECTORS AGREEMENTS • EMPLOYING PEOPLE AND NOT HAVING CONTRACTS OR NOT FOLLOWING THE CORRECT PROCEDURES
• EMPLOYING PEOPLE WITHOUT CHECKING THEIR IMMIGRATION STATUS • BEING STUNG BY SUPPLIERS BECAUSE YOU DID NOT HAVE THE CORRECT CONTRACTS • BUYING YOUR PREMISES These are just examples of the kinds of issues we see at Hodders; the kinds of issues that could have been prevented if our advice had been sought from the beginning. We know about running a business, and we know you have more important things to worry about than legal issues. So let us handle the legal side of your business, and you can worry about marketing, HR and running your business.
Contact us now to see how we can help you. Email: business@hodders.co.uk Phone: 0808 168 8677
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At Hodders we have experts in all areas of Business and personal law, so that we can be your one stop shop for all your legal issues. And if things do go wrong, we have the dispute resolution solicitors that can try to put things right for you. At Hodders we have solutions to suit all levels of business, from monthly dedicated advice lines, to employment and immigration health checks. If you are in business, then speak to one of our business team to find out how we can help you take away your legal worries so that you can concentrate on running your own business.
PEOPLE
The road to quell is paved with good intentions Leadership expert, Deborah Benson asks how you’ll react when challenged by a subordinate; is it in your nature to nurture, or will you quash any threats?
W
e often ask if a leader is truly up to the challenge of leadership, but how often do we ask how good they are at being challenged? In the old days of fearful respect for title and position, no-one dared question the boss, but times move on. Clearly, board members should challenge the boss, but what about a subordinate challenging your instruction? That can feel downright uncomfortable, or even threatening to your authority. However, rather than resenting challenges, it’s a good idea to evaluate what is actually happening. Firstly, what is their motive? Is the staff member simply trying to undermine you, (clearly not acceptable), or are they trying to help? Have they realised you are about to make a terrible mistake, or are they enthusiastic to contribute a better idea? So, the first test is: is the challenge well intentioned? Secondly, is their contribution relevant? And, perhaps
Strong leaders know they are not gods, that many heads are always better than one, and they accept contributions graciously. It’s a weak leader who takes every suggestion as a personal insult the most important - how did they deliver the challenge? Was their timing, manner, tone, and the circumstances appropriate? Were they respectful? A trouble-maker uses challenges to disrupt, undermine, or for selfpromotion. If you are convinced of malicious intent by how the challenge
was raised, perhaps combined with a history of negative behaviour, I would immediately have a private ‘firm word’ with the individual. If it reccurs, you must be seen to deal with it openly, calmly, but firmly. Other staff like to know you are confident and in control. Happily, questioning staff are usually trying to help, so my preference is always, firstly to thank them for their contribution, and address their concerns or ideas. Keep it a clash of ideas, not a clash of personalities. If you can’t discuss their suggestion then and there, give them a specific time to come and share their idea with you, and then move on. Handled positively, it should be possible to consider, and perhaps embrace, their suggestion, without any loss of face or feelings of weakness. Strong leaders know they are not gods, that many heads are always better than one, and they accept contributions graciously. It’s a weak leader that takes every suggestion as a personal insult. If the challenge was relevant and well meant, but the manner of delivery was poor, then a little coaching will not go amiss. Better still, give staff advance permission to raise good ideas or politely mention any concerns, and make them aware of the acceptable way to do so. That way, you are clearly in charge, managing the process, but welcoming their well-meant and valuable contributions. So, don’t fear being challenged, it’s a way to gain great input or avoid costly errors, but do ensure that staff are comfortable in the knowledge that their ideas and contributions are welcome, when made positively and politely at the right time. Contact: www.leadersforleadership.co.uk
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27/05/2015 11:57
There’s something to be said for elegant web design in a world of templates. That thing is: sales.
We are specialists in custom website design Call us today on 020 7351 4083 www.richardpchapman.com
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20/05/2015 12:57 18:16 21/05/2015
PEOPLE
Peter picked promotions put people in a pickle
W
hen we think of decent, fair organisations, we tend to conjure up places with a working culture that encourages employees to achieve, thrive, and progress. But what if this type of environment could actually prove detrimental in the longrun to both employees and the organisation? It sounds bizarre, but this is the end result put forward by management theory, the Peter Principle. It’s generally understood that employees are promoted based on competencies demonstrated within their current role, with promotions halting if the individual’s performance no longer warrants further progression. However, according to Canadian management theorist, Lawrence J Peter, this practice
When a promoted employee suddenly goes from ace to awful, is it always their fault, or is there something else to blame? Journalist, Zoe Efstathiou investigates the ‘Peter Principle’ theory, and what it means for your business
Rather than promoting talented and competent junior employees, an incompetent manager may dismiss such individuals because they “violate the first commandment of hierarchical life with incompetent leadership” namely that the hierarchy must be preserved
can lead to managers rising to a level at which they are no longer able to perform effectively, thus “managers rise to the level of their incompetence.” The theory states that, in time, every senior post within an organisation will be occupied by an employee who is unable to carry out their duties effectively, with work only being accomplished satisfactorily by employees who have not yet reached their level of incompetence. A person’s level of incompetence may not directly relate to the skills or area of specialism for which they were originally hired. Incompetence can arise because the employee’s new role requires them to demonstrate capabilities that are out of their scope. For example, an excellent engineer may make a poor manager because they lack
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As a child, no grade I brought home was ever good enough. If I brought home an A, my father would question why it wasn’t an A+ the interpersonal skills required to lead a team. Organisations affected by the Peter Principle can suffer from toxic dogeat-dog working cultures. For example, rather than promoting talented and competent junior employees, the theory suggests that an incompetent manager may dismiss such individuals, or set them up to fail, because they may “violate the first commandment of hierarchical life with incompetent leadership: [namely that] the hierarchy must be preserved”. So what can organisations do to avoid the pitfalls of the Peter Principle? Sara Bell, founder of clean-tech start-up, Tempus Energy, offered her insights into mitigating its effects. For Sara, effective management of her London-based organisation hinges on carrying out a wideranging assessment of each employee’s competencies before offering them a promotion. “Our evaluation framework assesses staff creativity, flexibility, ability to deal with ambiguity, perseverance, ability to understand others, ability to learn on the fly, and compassion, amongst other attributes, to assess ability to rise to a promotion challenge,” she explained. Once employees have been promoted within Tempus Energy, they work with a life coach as part of a conscious effort to “manage, and eventually eradicate, behaviours and working practices that limit or sabotage success.” In Sara’s experience, to become truly effective leaders, employees must be willing to look inside and tackle the root cause of their
incompetence. The competent engineer who lacks interpersonal skills need not simply plateau, but alternatively can seek to develop a wider range of capabilities. This can be achieved through selfexamination, which Sara has learnt through personal experience. “As a child, no grade I brought home was ever good enough. If I brought home an A, my father would question why it wasn’t an A+. Growing up in this manner has created within me an ability to work incredibly hard towards excellence, but also risks a leadership style that is too harsh. I have had to work at setting reasonable targets for my staff, that challenge them without discouraging them by setting an unattainable goal,” she noted. Self-awareness may prove key to avoiding the negative effects of the Peter Principle, yet in today’s bureaucratic, tick-box working culture, such an approach may feel foreign to many. “I believe many managers are held back once they start to progress, as
without working on these internal issues they eventually reach a point where they can’t perform in the role they have been appointed to. A more creative approach is needed by leaders to prevent this from happening to their staff, and that approach inevitably encroaches on the personal - a sphere that many CEOs are uncomfortable to enter,” Sara suggests. A working culture, in which employees are actively encouraged to look inwards, may not be the norm but, in fact, the approach is one of the key methods that Google uses to avoid the pitfalls of the Peter Principle. Twice a year, employees fill out surveys evaluating their managers on a number of different competency factors. The survey results are then presented to the managers, who in turn, reflect on them to improve their own performance. So maybe the next time your business is suffering from management issues, the solution may lie beyond the organisation and within the individuals themselves.
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19/05/2015 12:34
PEOPLE
It’s dangerous to go alone Across the UK, the number of employees working on their own on a daily basis is increasing. So what can you do if they get into difficulties? Simon Birchall, MD at timeware, explains how you can protect lone workers
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recent study has found that 36% of UK businesses are failing to properly protect staff who work alone. Participants in the study claimed their employers never checked their welfare when they were working on their own, and expected it to take up to seven hours for an alarm to be raised in the event of a problem. With this in mind, Simon Birchall, managing director of leading workforce management developer, timeware (UK), talks about lone worker safety, best practices, and the newest GPS monitoring technology available to help businesses tackle this issue. Within a working population of 31 million, seven million of these are considered to be lone workers, and this number is on the rise. Technological advancements and wireless communication has meant that more and more employees are working away from a fixed office base. Although an increase in lone worker positions could potentially mean more jobs and more flexibility, it can also mean less protection for workers. According to the Health and Safety Executive (HSE), lone workers in the UK are defined as being those ‘who work by themselves without close or direct supervision’. This definition is pretty broad, and covers a wide range of occupations. A lone worker could be someone who works alone in a fixed location, for example a petrol station, or alternatively, can be someone whose job
requires them to be mobile, such as a construction worker. Although, in many instances lone workers do not feel adequately protected at work, under the Health & Safety Act 1974, it is the responsibility of employers to eep workers from harm.
• How to use lone worker response equipment, such as GPS tracking technology.
USING GPS MONITORING TECHNOLOGY TO REDUCE RISKS Introducing lone worker protective technology can be hugely beneficial for increasing staff welfare. There is STEPS TO TAKE TO LIMIT a wealth of lone worker technology WORK-RELATED ACCIDENTS available, such as key fob-sized safety To minimise the risks to lone worker alarms and apps to help employees feel safety and security, employers should more confident and protected during deploy a two-pronged strategy, which the working day. encompasses both prevention and As an example of this type of response. While prevention is rooted in technology, timeware (UK), provides identifying potential risks before they an effective method of tracking lone happen, response comes into play after workers by utilising GPS technology. an incident has occurred. Even with The location tracking technology the strictest safety policy in place, the known as ‘Bubbletracker’ is the size truth of the matter is that accidents can of a matchbox, and can be carried on still happen, and so there will always the worker themselves, or fitted onto be a need for response services, such as a vehicle. This technology has the a designated team member who is on potential to both increase safety and hand should a problem arise. productivity, as it allows managers Prevention should begin with a to check the location of staff without thorough risk assessment that outlines having to contact the person. any areas for concern. The lone worker With technological advancements must then be given adequate training, so leading to an increase in lone workers they are able to cope with any issues if, across the country, there has never and when, they arise. Employee training been such an important time to take should cover the following main areas: employee safety seriously. • Understanding safety procedures A combination of training and technology • How to carry out a risk assessment can help to minimise the risks and allow while on the job to avoid any organisations to protect its lone workers dangerous or compromising situations in the most effective way as possible. • How to cope with any dangerous Contact: or compromising situations should www.timeware.co.uk they arise
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PEOPLE
Although, in many instances, lone workers do not feel adequately protected at work, under the Health & Safety Act 1974, is it the responsibility of employers to keep workers from harm
36% of lone workers in the UK claim they’d expect it to take up to seven hours for an alarm to be raised in the event of a problem
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27/05/2015 12:07
Come and join us at DAM Europe 2015! We extend a warm invitation to all who are interested in learning about Digital Asset Management from industry experts including Disney Interactive, M&S.com Development, Ministry of Defence, Historic Royal Palaces, Accenture, THE NET-A-PORTER GROUP, Diageo plus many more. Please join us at upcoming DAM events
DAM Europe Thursday 25 and Friday 26 June Radisson Blu Portman, London
DAM Chicago Thursday 24 September InterContinental, Chicago Magnificent Mile
DAM Los Angeles Thursday 12 and Friday 13 November Hyatt, Regency Century Plaza
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21/05/2015 16:13
10 Things Every Startup Needs for Business Growth fivesquid.com where you can buy business services starting from a fiver is helping over 15,000 startups grow in the UK. Terry Koutsios, founder and CEO of fivesquid.com summarises what has helped his company grow. 1 Invest in Content Marketing Early
When fivesquid.com launched we had professional freelancers and very talented individuals offering their skills from as little as £5. We used a lot of the services on our own website to grow the business, from bloggers, to social media managers. That small investment in early stages of the business is now growing our organic traffic by 98%. Content marketing takes time; the earlier you start the easier it will be down the line.
2 Test Everything
We started out with only one price point for services, but soon found out it wasn’t optimal for our customers. It took a little while to get the pricing structure right to ensure both buyers and sellers of services were getting a good deal. Even a little adjustment to pricing points can make a real difference to conversion rates. We are also constantly testing marketing campaigns both online and offline. We try to incorporate up to 2 new marketing channels a month and only keep those that deliver to meet set acquisition targets. This also goes for design, we don’t have a secret formula, but we are very good at tracking the user journey of our customers to ensure they find information they need simply and efficiently. Design is the most difficult area to test, as it requires a lot more planning and tech collaboration. If you own a website business, use heat maps to see where your design is vulnerable.
3 Design for your customers
Find out who your biggest customers are and ask them what they like, don’t and wish the website had. You are essentially working to multiply this group of customers, as they will bring the most ROI. Try to keep your design very simple; we live in a digital age where constant bombardment of information leaves us very little time, so help your customers find exactly what they want in minutes. fivesquid.com prides itself on the fact that a business can visit the website, purchase
a service and start a project in 10 minutes, the design also reflects the simplicity of outsourcing work.
4 Harness the power of direct response
The customer journey is a puzzle, if you only monitor it from when visitors land on your website, you will always have pieces of the puzzle missing. Knowing where your customers are coming from, which content has prompted them to register, how many different types of content they have to engage with before they register, is key to direct response marketing. Direct response marketing will let you control data live so you can adjust content and pricing to achieve the most optimal results. It took fivesquid.com a good month to optimise a few campaigns on Google Adwords, but once you find the right formula, it requires very little maintenance.
5 Innovate to Expand
Once you have a growing customer base, you need to be able to keep them engaged. Here at fivesquid.com we work to release new features and updates almost monthly. We also try to keep our customers in the loop by asking for feedback. By ensuring you have two-way communication with your customers, innovation should come naturally.
6 Hire entrepreneurs
Surround your business with driven and ambitious people who strive for success. You will find by delegating responsibility, areas of the business will start growing without you having to drive the growth. We used services our members listed on our website at the beginning because they were excited and passionate about the brand.
For us, it’s cost per member acquisition, registrations, revenue and average transaction value. Once you know your core KPIs, you will know where to focus most of your attention and energy.
8 Don’t ignore the power of social media
On fivesquid.com we have loyal customers who are advocates of the brand. If there are any questions or enquiries on social media, they will be the first ones to help. Developing an interactive (not just sizable) community on social media is the most viral word-of-mouth brand recommendation you can get. It takes time but definitely worth the investment.
9 Not being mobile-friendly can harm your business
With the new Google release, not having a mobile friendly website can impact your rankings on Google search. Even if you are not ready for an app, get a developer to simply transfer your desktop website into a mobile app which you can build on at a later stage. This is an inexpensive way to ensure you also have another puzzle piece of the customer journey fitted (I’m sure you can even find a few on our website who can do it for £50).
10 Embrace competition
When there are competitors in your market, it’s a good sign; it means there is demand. Find your niche in the market and simply focus on it rather than trying to compete with other businesses. You will find that customers alternate brands for different products anyway so make sure that when a customer needs something specific that you offer, you are available.
7 Forecast and Set KPIs
This is probably one of the most important points. Without KPIs you won’t know what business success looks like. Set monthly, quarterly and yearly targets in the main areas that drive business growth.
@fivesquids
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www.fivesquid.com
27/05/2015 15:53
PEOPLE
Secret diary of an entrepreneur This month we catch up with Neil Capel, British-born founder of US-based Sailthru, to discover whether a week in the life of an American omni-channel marketing business is more than just plain sailing
Thursday night means ‘Sail Ale’. Every Sailthru office hosts a happy hour for employees and their friends. It’s been a tradition since day one
DAY ONE: CLEARING ROADBLOCKS Ever since I founded Sailthru in 2008, Mondays have been my favourite. There’s a ton to accomplish and the pressure is always on, but there’s nothing more exciting than building and scaling a business. Monday is when it all begins. First thing is our executive meeting. I hate inefficient meetings and think that meetings over 30 minutes long are a drag, but this one is where every executive at Sailthru presents their major priorities for discussion. This is a great meeting, and every other day during the week we do five to 15-minute ‘stand up’ meetings that are for discussing roadblocks that may have arisen. This keeps everyone in the company moving. DAY TWO: ACHIEVING ZEN Every morning before 9am I try to get in some meditation time. Whether I’m in the office tackling a project that requires focus, or having coffee with my wife, I do whatever it is that I need to in order to get the day started on the right foot. This morning, I’m doing the final review of a presentation that I’m giving tomorrow
evening in Los Angeles. Presenting safe ideas is useless and boring, but it takes a lot of work to present something on the edge, so there’s always a lot of back and forth between my marketing team and me. This presentation is about how relevancy is the new currency, and how most ecommerce companies are ignoring the opportunities that are right in front of them, when it comes to using data to deliver a better customer experience. Not everyone will agree with me, but that’s not the point; as long as the topic creates a dialogue, then we’re hitting the right note. I have to leave the office early today to head over to Brooklyn for a video interview and panel discussion on ecommerce innovation. It’s the perfect opportunity to test out some of the messaging I worked on this morning. DAY THREE: WI-FLY The morning run. The Hudson River has been completely revitalised in the last ten years, and the park is perfect for a headclearing sprint, especially before going on a cross-country flight. Before heading to the airport, it’s a quick trip to the
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It means that you can work from home when needed, take time when needed, and work the hours that work best for you. As long as the results are there, how and when the work happens doesn’t matter office. Once a month, we have ‘all hands’ meetings, where everyone in the company joins, in person or virtually, to welcome new hires, celebrate client wins, discuss upcoming programs, and other initiatives. These are key for us to continue our focus on transparency, and to make sure that our values of ‘Think Big, Speak Up, Get It Done’ remain real. Flight time! It’s not just because I’m British, but I really prefer to fly Virgin, especially on these long haul trips - their service is just so personal. Americans are spoiled when it comes to travel; almost every flight has WiFi. It’s why I actually prefer to travel during the day rather than taking the red eye. I’m forced to sit in one place for 6-8 hours, and can fly through hundreds of emails. I think everyone has a limited number of red eye flights, and I’ve hit mine, although somehow I’ve managed to hit two in the last month! Unfortunately, there’s no time to get to the hotel before I have to speak. I pop into an Uber and go straight to the venue. Today I’m speaking with the SVP of marketing from JustFab, one of Sailthru’s ecommerce clients. She’s covering their path to
personalisation and I’m talking future vision. Two hours - and many audience questions - later, I’m off to dinner and drinks with our LA team. If I’m in town, I’m going to get together with members of the team every night if I can. It’s a challenge to be an employee who doesn’t work out of HQ, but we do everything we can to keep these regional offices as connected as possible. We don’t always get it to work perfectly, but we’re always trying new things, and face time is critical. DAY FOUR: HAPPY HOUR One more panel this week. This time it’s at a digital marketing event focusing on the fashion industry. Rather than participating though, I’m moderating this time. The topic is on the convergence of offline and online marketing, and it’s with leaders from some of today’s largest, and fastest growing brands. You can tell when an event organiser has spent time thinking about the panel - the right mix of personalities, energies, and contradictory thinking. This is one of those great moments. I had prepped the panel beforehand, but when these discussions really get going it’s
fun to keep a lively dialogue with some off-topic questions. Thursday night means ‘Sail Ale’. Every Sailthru office hosts a happy hour for employees and their friends. It’s been a tradition since day one, and I’m heading to the LA office to hang out with the team. DAY FIVE: FINDING THE PERFECT FIT It’s been a week of travel, and today is no different. I’m up early to catch a flight back home to New York, and will be going straight to my apartment to catch up with my lovely wife. Spending time at home isn’t just a founder and chairman thing - it’s something every employee can do. When I started Sailthru, I wanted everyone to be able to work the way that works best for them, so we implemented ‘ROWE’: Results Only Work Environment. It means that you can work from home when needed, take time when needed, and work the hours that work best for you. As long as the results are there, how and when the work happens doesn’t matter. That’s really what scaling a business is all about - results. And it’ll all begin again on Monday. Contact: www.sailthru.com
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Group Chair and Executive Coach – UK and Ireland Become a Vistage Chair and inspire entrepreneurs and business owners to even greater success.
Vistage is the world’s leading executive peer-group organisation. We have over 900 members in the UK alone and 19,000 members worldwide. Our purpose is to increase the effectiveness and enhance the lives of business leaders by bringing together successful MDs, CEOs, executives and business owners into private advisory groups. We are looking to launch more groups in the UK. To do this we need outstanding business leaders to join us. As a Vistage Group Chair, could you:
If you’ve been a CEO/MD or a senior director and you’re looking for a completely new and rewarding challenge this is why the role of Vistage Group Chair could be for you:
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To find out more about our community and the role of a Vistage Group Chair, register your details and download further information at vistage.co.uk/talkbusiness. Alternatively speak to our Chair Recruitment Team on 01489 770200 or email ian.lloyd@vistage.co.uk to arrange an initial discussion.
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PEOPLE
Should you bury the past? HR Insight’s Richard Cummings asks whether references are still relevant in today’s world?
If you do provide a reference giving more than just a job title and employment dates, there is no obligation for it to be full, fair, and comprehensive
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o you still require applicants to submit at least two employment referees? And when was the last time you received a negative reference? As part of many companies’ recruitment process, employment references still form a key part. However, are they still relevant, other than to confirm the start and end date of when an employee worked for them? Did you know that, in a recent case regarding a large insurance company, it stated that there’s no implied common law obligation for an employer to provide a reference, unless there was an expressed contractual obligation to do so? So refusing to provide one does not have a negative connotation if this is your standard practice. In addition, if you do provide a reference giving more than just a job title and employment dates, there is no obligation for it to be full, fair, and comprehensive. REFERENCES AND THE POTENTIAL LIABILITY As long as you are careful to give a fair picture of the employee, there is little risk that it will come back to haunt
you. There will be no liability on you unless the employee is able to prove all three of the following points: The information provided in the reference is misleading. Providing such misleading information is likely to have a material effect on the mind of a reasonable recipient of the reference, to the detriment of the employee. The employer was negligent in providing such a reference.
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SO HOW CAN YOU MINIMISE THE RISK? • Have a clear policy, setting out who is authorised to give a reference, and the information it will contain. • Limit references to facts only. If you only give dates of employment and job title, make it clear that you’re only prepared to provide limited information. • Include some form of disclaimer, which could discourage claims from the person receiving the reference. • If given as part of a settlement agreement, reserve the right to refuse or amend the references, if information comes to light that
would make it misleading. It would be a shame for the whole system to break down due to a perceived problem of legal liability, which is in fact, rather remote. However, you should develop your own policy on references, in order to be consistent, to avoid any future allegations or claims that you have acted unfairly. OTHER OPTIONS ARE AVAILABLE Other than the standard employment reference, there are other checks that can be performed, that might give you a better insight into a potential new employee. These checks could include any of the following: social media; confirmation of education; credit history; or even criminal record. That’s not to say that checking someone’s employment history isn’t important, as it can often help to highlight gaps in a person’s career that they have not put on their CV. It just doesn’t have to be the only check performed. Contact: www.hrinsight.co.uk
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Business Junction, London’s premier Business network, invites you to a Free networkinG event Business Junction is offering all Talk Business readers a complimentary invitation to one of Business Junction is offering all talk Business readers a complimentary invitation to one of our our 4 June networking events in London which are all listed below (and on our website). 5 august networking events in London which are all listed below (and on our website). 4 June 2015 12.30-2.30pm
Networking lunch in Piccadilly Nearest tube: Piccadilly Circus Bentley’s Oyster Bar & Grill, 11-15 Swallow Street, London, W1B 4DG networking lunch at the Grange Hotel at tower Hill More information and booking: http://www.businessjunction.co.uk/events/networking-lunch-in-piccadilly-5
11 June 2015 Thurs 8th Aug 12.30-2.30pm
Networking lunch at Ludgate Circus networking lunch at the roof Gardens & Babylon restaurant at High st. kensington Aveqia London, 2 St. Bride Street, London, EC4A 4AD Nearest tube: Blackfriars or St Pauls 99 High Street Kensington, W8 5SA Nearest tube: High Street Kensington More information and booking: http://www.businessjunction.co.uk/events/networking-lunch-at-ludgate-circus
Thurs 1st Aug
Wed 14th Aug
45 Prescot Street, E1 8GP
Nearest tube: Tower Hill
networking lunch at Freemasons Hall at covent Garden
17 June 2015 8.00-10am
Networking in Mayfair 60Champagne Great Queen breakfast Street, WC2B 5AZ Nearest tube: Holborn Corrigan’s Mayfair, 28 Upper Grosvenor Street, London, W1K 7BH Nearest tube: Marble Arch networking lunch at the Happenstance at st. paul’s More information and booking: http://www.businessjunction.co.uk/events/networking-breakfast-in-mayfair
25 June 2015 Thurs 29th Aug 12.30-2.30pm
Networking lunch in Bank networking at dirty dicks Brand Exchange, 3 Birchinlunch Lane, London, EC3V 9BW at Liverpool streetNearest tube: Bank 202 Bishopsgate, EC2M 4NR Nearest tube: Liverpool Street More information and booking: http://www.businessjunction.co.uk/events/networking-lunch-in-bank-6
Thurs 22nd Aug
1A Ludgate Hill, EC4M 7AA
Nearest tube: St Paul’s
Please email Fiona@businessjunction.co.uk with the event you would like to attend and quoting the reference: talkbusiness2/13 Now nowininitsits12 12year yearand andwith withover over450 450member membercompanies, companies,Business BusinessJunction JunctionisisLondon’s London’sleading leadingindependent independent business a monthly businessnetwork. network.We werun run80+ 80+pan-London pan-Londonnetworking networkingevents eventseach eachyear yearincluding includinga aweekly weeklylunch, lunch, a monthly Philippe Brugnon Champagne breakfast 6 evening events, at different quality central London venues. champagne taittinger breakfast and 6and evening events, all atall different high high quality central London venues.
www.businessjunction.co.uk 020 3667 6776 Business JunctionJune15.indd 1
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Outstanding Sales and Marketing Opportunities
The Sterling Integrity Business Show is a fantastic opportunity at various locations throughout The Midlands, The South West, and South Wales.
Please contact Neil on 01452 222676 or go to www.sterlingintegrity.co.uk
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Next Shows… 2 July 2015 GLOUCESTER SHOW Kingsholm Rugby Stadium 24 September 2015 BRISTOL SHOW Future Inns Bristol 5 November 2015 CHELTENHAM SHOW Cheltenham Racecourse 19/05/2015 12:00
27/05/2015 17:27
PEOPLE
Turn that frown upside down Lee McQueen, founder of the Raw Talent Academy and season four winner of BBC’s The Apprentice, says helping your employees cope with disappointment is an important part of management
R
egular readers will know that a major part of my management style is to keep my staff in the loop, and help them understand the structure of the business. But what happens if you have to deliver bad news? How do you motivate them and prevent them from retreating into their shell? Well, the answer is much the same: it’s about managing their expectations, and helping them see how your decision fits into the structure of the business. Senior staff will probably already have experienced knock backs during their careers, and will be able to take bad news in their stride. It tends to be with junior members where problems arise. Let’s say one of my employees wants to take three weeks off. My starting point would be to deny this request. We’ve a clear rule that says the maximum break anyone can take is two weeks. However, if it was for a very special event, such as a wedding, I might explain that, if they can improve their
Constructive feedback is key. I’d love all my staff to be here for at least 10 years, but they’ll only be here if they remain satisfied with their career development
performance and hit their objectives, I might be able to make an exception. It means I’ve sent someone away disappointed, but I’ve also given them an opportunity to show they really wants this. The door is not completely shut. If there’s no way at all to accommodate a request, there might be repercussions. Some people will respond to an arm round the shoulder, while others might need a harder line. But the way I deal with it is to ask them to put themselves in my shoes. I find that nine times out of 10, they accept the decision. Another thing that has the potential to cause unhappiness is when someone is denied a promotion. Sometimes it’s through no fault of the candidate - you might have two fantastic people going for the same position and one has to lose out. So how do you help keep morale up afterwards? As with the holiday example, it’s about keeping all parties in the loop. Even before they’re interviewed for
the promotion, let the candidates know their current jobs are safe. And let them know that if they’re unsuccessful, you’ll work with them to help their career progression. Constructive feedback is key. I’d love all my staff to be here for at least 10 years, but they’ll only be here if they remain satisfied with their career development, and giving them that reassurance just after they’ve missed out on promotion is an important time to reinforce this message. Individuals, by their very nature, are different, and there is no onesize-fits-all approach. But letting your employees know they remain valued, even though they might not have got everything they want, is a good general rule. And having a structure in place so you can show why any decision has been reached goes a long way to smoothing any troubled waters. Contact: www.rawtalentacademy.com
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28/05/2015 20/05/2015 11:34 12:14
LIFESTYLE
LG 34” CURVE ULTRA-WIDE 4K MONITOR
Each month we bring you a selection of gadgets, gizmos, and gifts that we’re going crazy about. This month we’re showcasing top tech to make your work day run smoothly
WACOM BAMBOO STYLUS FINELINE Lightweight, comfortable, and simple to use, the Bamboo Stylus Fineline from Wacom is perfect for tablet users wanting to produce designs, or hand write long notes without cumbersome on-screen keyboards, or clunky plug-in ones. Fully Bluetooth enabled, it’s great for taking notes on your iPad during meetings, and works with a whole host of popular apps, meaning you don’t have to spend hours afterwards typing up sheets of paper in order to share them with others. It has a thin tip design, which makes precision writing a doddle, and the pressure sensitivity on the pen makes it almost feel as if you’re writing on paper. For the more artsy note-taker, there are a whole host of input textures too, such as Brush Pen, Watercolor Brush, and Crayon, available as in-app purchases. PRICE: £45 AVAILABLE FROM: www.wacom.com
With a super sleek minimalist design that makes it a work of art on any desk, the crisp, ultra HD output makes this an ideal monitor for those working in the digital or design industry. The Curve Ultra-wide has two display port connectors - one HDMI, one DVI, a 3.5mm speaker or headphone jack, and a USB port, allowing you to input from a variety of devices. The picture is excellent, boasting rich accurate colours and deep blacks outputting photo-like quality when viewing 4K content. It also has inbuilt speakers, which produce a smooth, silky sound. One of the best features of this monitor is the split screen functionality, which allows you to use dual screens without the messy wires of two screens. The LG 34” Curve Ultra-wide 4K Monitor is definitely worth clearing half of your desk for! PRICE: £661 AVAILABLE FROM: www.amazon.co.uk
PDF PEN Ideal for any electronic document that needs a signature, the PDF Pen is the eco-friendly, efficient, and secure way to sign your PDF documents. Connect the PDF pen to your PC, sign, and watch as your signature opens on-screen. The PDF pen allows you to place a timeverified signature straight onto a PDF, meaning you don’t have to go through the procedure of printing, signing, scanning, and emailing. Hover your PC cursor above a PDF Pen-signed document, and all the information you could need about the signatory will appear. In a world dominated by technology, where we can communicate with the other side of the globe in millis-econds, it’s odd that physical signatures still hold so much sway, but the PDF Pen is a happy medium between the two. PRICE: £69.99 AVAILABLE FROM: www.amazon.co.uk
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ALL BUSINESS IS SHOW BUSINESS MANAGE IT! BUILD IT! MARKET IT! MORE CUSTOMERS IN TODAYS FAST MOVING ECONOMY ONE THING REMAINS CONSTANT -THE IMPORTANCE OF YOUR REPUTATION. IT IMPACTS ALL OTHER FORMS OF MARKETING.
MANAGE - BUILD - MARKET YOUR 5 STAR REPUTATION VISIT: adodo.co.uk/reputation-marketing OR CALL: p.s reputation marketing has proven to increase business by 19% with just a 1/2 star rating increase. - University of California, Berkeley
0800 849 3333
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LIFESTYLE
Summer style
L
aunched in 2003, Goddiva creates the hottest red carpet celebrity favourites and catwalk-inspired pieces, with styles that range from workwear and sportswear to evening and partywear, plus an extensive holiday wardrobe.
DR398_GREEN PRICE: £54 This two-tone cut dress is perfect for an hourglass figure. The sophisticated midi length style is perfect for pale complexions, with the beautiful shade of green.
The experts at Goddiva take a look at some of the best ladies’ fashions for the workplace this summer
DR452A_BLACK PRICE: £51 The elegant midi dress has beautiful waist detailing, plus delicate ruffles that is chic yet still very smart. Perfect to add curves to an athletic figure or ladies keen to create curves.
Here the company showcases some of its SS15 collection, which features retro floral prints, powder pastels, bold block colours, lace and mesh detailing, peplums shapes, and cute co-ordinates, helping you look great in the workplace this summer.
DR463_RED PRICE: £48 This bold dress is the perfect statement for a confident woman. Worn with a smart blazer, the style is perfect for boardroom to bar simply by removal of your jacket and a change of shoe. talkbusinessmagazine.co.uk 95
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LIFESTYLE
DR524_NUDE £54 This pale nude bodycon dress has sleek panel detailing, cap sleeves, and is the perfect feminine summery style in keeping with the pastel trend.
DR426_RED £45 This bold scalloped V-neckline dress is perfect for the hottest of summer dates, and can be paired with the matching scalloped jacket. This dress will take you through the entire year (and for every occasion) and really highlights beautifully toned arms.
DR281A_LILAC £45 This lilac pencil dress is the perfect summery shade, with a waterfall peplum detail to emphasise the waistline.
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DR355_NUDE £60 Combining a peplum shape and a lace body, the long sleeves make this perfect for cooler spring days, and the shape perfectly complements beautiful curves.
We’ve teamed up with the experts at Goddiva to offer Talk Business readers an exclusive 20% off all orders* – simply enter the discount code TALK20 at the checkout. *Strictly one order per customer. Offer runs from 8 – 22 June 2015. For full terms and conditions, contact goddiva.co.uk
DR395_ROYAL BLUE £42 This classic shade of cobalt is a flattering style for most body shapes, and features an adjustable belt detailing.
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LIFESTYLE
hotspots This month we’re venturing to the Highlands to discover some of the best places to eat, greet, and lay your head, in Glasgow and the surrounding areas
AWAY ON BUSINESS BLYTHSWOOD SQUARE WHERE? Glasgow WHY? Five-star boutique Blythswood Square is the very definition of city centre decadence. The luxury spa hotel commands one full side of Glasgow’s leafy Blythswood Square garden, making it ideally placed for conferences, events, weddings - or simply a luxurious weekend away or day trip. Offering 100 bedrooms, comprising 93 luxury rooms, six individually appointed suites, and a decadent penthouse, overnight stays start from just £160 on a bed and breakfast basis. While the restaurant is exquisite, housed in the stunning former RSAC ballroom, and serving some of the freshest dishes using locally sourced produce from Glasgow’s own markets, the spa is what really sets the venue apart from its rivals. With 10,000 sq ft of the property dedicated to the spa, it houses a thermal suite, two relaxation pools, saunas, steam rooms, a Jacuzzi, and solarium, not to mention a myriad of jets and streams. There’s every way you can imagine to be pampered and soothed, providing an enviable experience for your tired muscles and aching limbs. For those looking to connect with the business world, you’re only a mile and a half from the SECC too. Internally, there are five private event rooms available for corporate conferences and meetings, and Glasgow International airport is a mere eight miles drive away - perfect for blending business with pleasure! CONTACT: www.townhousecompany.com/ blythswoodsquare 98 June 2015
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LIFESTYLE
MEET AND EAT CAIL BRUICH WHERE? Glasgow WHY? Nestled in the heart of Glasgow’s bohemian West End, Cail Bruich is relaxed dining with a Scottish tinge, in a great location by the Botanical Gardens. Their focus is to create a modern style of Scottish cuisine, influenced by the best in classical and modern cooking techniques. Using fresh, hearty ingredients that change according to the season (sourced fresh from Scotland’s kitchen, as they put it), why not tempt your tastebuds with the seven course tasting menu, paired with a fine selection of wines? Alternatively, get stuck into the a la carte menu, featuring sumptuous scallops with citrus fruits, the finest Gartmon Farm duck, and an exquisitely decadent Valrhona Manjari chocolate (caramelised white chocolate). Winners of two AA rosettes, a recommendation in the Michelin Guide, and Entertainment Awards Scotland’s ‘Best Restaurant 2014’, you’re in safe hands with expert chef, Chris Charalambous. CONTACT: www.cailbruich.co.uk
EVENTS, GATHERINGS & HUBS THE SCOTTISH EXHIBITION AND CONFERENCE CENTRE WHERE? Glasgow WHY? Home to exhibitions such as the Good Food Show and Ideal Home Show, the SECC is the perfect venue for hosting an event, whatever your ambitions. There’s a gargantuan 22,355 sq m of flexible space, in five halls, ranging in size from 775 sq m to 10,065 sq m, all at ground level for easy access. Retractable partition walls can shape halls to your exact requirements too, making them as large 19,265 sq m - or as small as you wish.
There are also a number of high-quality hotels in the area, which are perfect for attending guests, and even a four-star offering on site, should you not wish to venture far after a hard day’s work. On site catering, state-of-the-art digital communications infrastructure, and an adjacent train station providing easy travel to the centre of Glasgow, make the SECC an ideal choice along the bustling banks of the River Clyde. CONTACT: www.secc.co.uk
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LIFESTYLE
On the road IN THE SPOTLIGHT: THE RANGE ROVER SPORT SDV6 PRICE: FROM £77,500
Whether you’re looking to get from A to B, or arrive in style, your car is part of your business image. So each month, motoring expert, Oliver Hammond checks out the latest in executive travel, helping you to decipher the market for business drivers
WWW.LANDROVER.CO.UK
A
year ago, my wife and I drove from Manchester to Brighton and back in 24 hours. Ambitious, yes, but utterly glorious thanks to the peerless ‘blue top’ Range Rover SDV8 Autobiography. Fast forward twelve months, and our plans for the Range Rover Sport SDV6 were more modest - a family reunion in the beautiful city of Cambridge. Trimming a mere 15cm from the length and 5cm from the height, the 2015 Range Rover Sport is as gargantuan in the flesh as its slightly bigger brother, and has had a few lines tweaked to give it a more aggressive stance. The Sport perfectly bridges the gap between the Evoque and full Range Rover, and has as much presence on roads and in fields as the latter. Climb aboard - literally - and the cabin is a huge improvement over the original Sport, which felt a tad claustrophobic. It felt special sitting at the helm of the Sport, which was
Every Range Rover should see some mud in its time, and after half a day of downright filthy off-roading, I can safely say the latest Sport is every bit as capable off road as ever fitted with driver aids, including head up display, stop/start, park assist, lane departure alerts, and adaptive cruise control. Passengers were treated to the excellent Meridian audio system, dualview TV screen, and panoramic roof. Practicality was bolstered by an electrically deployable tow bar and two extra seats in the back, also operated effortlessly by button. With all seven seats in place, boot space was considerably limited though, and the rearmost seats were more suited to Asterix than Obelix. The espresso, almond, and ivory interior nicely contrasted with the Kaikoura Stone paint but, despite looking opulent to the eye, didn’t prove as comfortable and luxurious as last year’s Autobiography. The Sport, tested in HSE Dynamic trim, still puts lesser mortals to shame, though. Shod with 21” alloys just like the Autobiography, the Sport was firmer by a country mile, so much so that it may put some people off. The upside is that it handled more sportily, fully
living up to its name, and proving as much fun as a BMW X5 at sharp cornering. Those upgrading from the old Sport will lap the new one up. After 450 miles of mixed driving, I averaged 36.6mpg, impressively close to the 40.5mpg brochure figure. The Sport’s SDV6 is only 33bhp and 40Nm down on the recently revised SDV8, and I found it so wonderful that I wholeheartedly recommend it. Every Range Rover should see some mud in its time, and after half a day of downright filthy off-roading, I can safely say the latest Sport is every bit as capable off road as ever. At £77,500, the 2015 Sport costs considerably less than the £102,000 SDV8 Autobiography and, firmer ride and slightly less comfortable and plush interior aside, it cements itself as a remarkable vehicle - one that suits any occasion. Contact: www.oliver@petroleumvitae.com
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LIFESTYLE
Leave the office behind Can’t decide where to escape to this summer? Whether you want to get away from it all or experience a high-octane buzz, editor Luke Garner takes a peek at some of the best places to visit across the globe
PLACES TO EXPERIENCE EXTREME THRILLS: NEW ZEALAND If plummeting face first towards the ground at more than 60 miles per hour is your idea of a good time, then New Zealand is probably perfect for you. Affectionately known as ‘the land of the long white cloud’, the activities that adrenaline junkies can indulge in here are somewhat less serene than that moniker would suggest. From bungee jumping off the famous Kawarau Bridge, to white water rafting down the grade five Shotover River, or even mountaineering across the challenging landscape that was famously the setting for The Lord of the Rings trilogy, there’s ample opportunity to get your pulse racing.
PLACES TO GET AWAY FROM WORK: BARBADOS Known as the ‘Little England’ of the Caribbean, indulge in the clear blue seas, swaying palms, and winding white sand of wonderful Barbados. As tropical paradises go, it really does have it all. Barbados’ waters are perfect for snorkelling, allowing you to experience colourful corals or the majestic beauty of the sea turtle, while those wanting a slightly less sedate pace of life can immerse themselves in the Unesco World Heritage capital, Bridgetown, which has great culture and nightlife. If you’re going to do something at all, you may as well do it right, and that’s very true of the accommodation on the island. With many luxurious five-star hotels dotting the landscape, including the Colony Club situated on the finest stretch of Barbados’ Platinum (west) coast, there’s a guiltily pleasurable VIP experience to be had by all visitors.
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LIFESTYLE
The warm waters are rich in minerals, and bathing in the Blue Lagoon is reputed have several health benefits PLACES TO STAY CONNECTED: SINGAPORE On the other hand, if you can’t drag yourself away from your phone and emails, and simply must stay in touch with everything that’s going on, why not try the bustling metropolis of Singapore? The ‘Lion City’ recently topped the EIU rankings as the best place to do business for the seventh consecutive year, and with modern, technologically advanced business centres such as the Suntec Convention Centre (which features 38,000 m2 of exhibition and meeting space, free WiFi throughout, the world’s largest video screen, and is adjacent to 400 shopping outlets), there’s something to suit every size of business. And there’s no shortage of amazing places for a business lunch either. Why not chow down at the awardwinning Ku De Ta? Perched atop the world-famous Marina Bay Sands Hotel, you’ll get a bird’s eye view across the gorgeous bay and the Singapore skyline, which is made even more spectacular by the Marina Bay Sands’ nightly light display. For those with a penchant for travel but perhaps not the grasp of languages, the good news is that English is spoken by 80% of the population - but there’s also a real melting pot of cultures, with European, Asian, and Middle Eastern districts across the city-state.
PLACES FOR HISTORY AND CULTURE: ROME, ITALY Along the cobbled streets, up the Spanish Steps, or into the jaws of the mighty Colosseum, Rome is tinged with history in every footstep. The epicentre of the Roman empire for centuries, ‘The Eternal City’ is a real treasure trove for any history and culture buff. Today, sights such as the Colosseum, Roman Forum, Trevi Fountain, and Pantheon remind us of what Rome once was. With some of the greats of the fine art world hailing from, or having worked within the city, such as Caravaggio and Raphael, Rome is also an indulgence for any lover of the arts too. And it’s not just artistic culture you can experience here - the Italian capital has a centuries-old history of excellent cuisine and fine dining (though many Romans would no doubt argue that cooking is in itself an art). Pasta is, of course, the dish of the day, so why not get stuck into a sumptuous spaghetti aglio e olio (spaghetti with garlic and olive oil), or a classically Italian fettuccine alfredo?
PLACES FOR RELAXATION: BLUE LAGOON, ICELAND For the ultimate unwind, head north to the magical land of Iceland, and experience the tranquil pleasures of the Blue Lagoon. It may sound like a Peter Pan-inspired Disney location, but thankfully this is no fantasy. Blue Lagoon is a geo-thermal spa located in a lava field between Keflavik International airport and the city of Reykjavik. Powered by a nearby geothermal power plant, the warm waters are rich in minerals, and bathing in the Blue Lagoon is reputed have several health benefits. The water temperature in the bathing and swimming area of the lagoon averages 40°C, and is enjoyable year round, even in freezing conditions. Perhaps best of all, if you’re lucky, you might even see the mystical colours of the Aurora Borealis winding their way across the night sky as you sit back and take in the beauty of nature.
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TECHNOLOGY
Those who attended private schools are twice as likely to get internships in London compared to those who are attending state schools
Internal affairs
W
ork experience can play a big part in guiding the career choices of students, and it can take just one inspiring moment to guide someone down a particular path that excites them. But, not many organisations or students are truly benefiting from the potential that effective work experience placements can offer. Typically, work experience gives students exposure to a particular working environment and provides a glimpse of the potential pros, cons, and benefits of working in that particular field. Employers, on the other hand, have the advantage of seeing how a student might fit into their organisation and whether they are suitable for any roles they might have, with a view to potentially recruiting them at the end of the work experience. However, there is a problem with the current model. Access to work experience is often self-selecting, with many going through family and friends to find opportunities. This is great for people in those positions, but where does this leave students who have potential, but not the network to lean on? To make matters worse, some might not be able to gain access to a particular field because of their social background. So, aside from accessing the internet and sending a few emails, or relying on their schools, how do they find out about available opportunities? A recent survey of 5,000 people commissioned on behalf of the Debrett’s Foundation clearly illustrates
Dragons’ Den star and CEO of Outsourcery, Piers Linney explains how you can inspire the next generation with work insights this situation for many students. Those who attended private schools are twice as likely to get internships in London compared to those who attended state schools. Furthermore, 72 percent of privileged young Britons admitted to using family connections to secure placements. Looking at these figures, you can see why there needs to be more support for those who come from less privileged backgrounds. While schools and colleges continue to urge students to gain work experience, they’re struggling to meet this demand and provide the access that students are after. Therefore, the current model needs updating. Using technology to enhance the process could do the trick. Imagine a software application for smartphones that schools, students, and employers can use to easily gain access to one another. The app could match employers and students, and give them access to bitesized workplace ‘insight’ days, tailored to their interests and location. I’m developing a platform like this. It’ll act as a powerful employee engagement tool for schools, students, and employers to interact
with, making the entire work experience process more streamlined and productive. It also means that employers will be able to gain access to high quality experiences that add value to their organisation. Employers with the financial resources to do so, have the power to give something back to society. This can be achieved through helping young people advance, with a day in a workplace that is of interest to them. Something as quick and simple as this could ultimately contribute to students’ future career choices, inspire the next generation and, potentially, even help you find your next star employee. Contact: www.outsourcery.co.uk talkbusinessmagazine.co.uk 105
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TECHNOLOGY
Pain in the backend? IT has feelings too, but how do you fix the pain points? Anthony Lamoureux, strategy and development director at Velocity, explains
I
n today’s modern business environment, the pace of consumer technological innovation has far outstripped run-of-the-mill enterprise IT, with its conventional service levels, meaning that the true benefits of this IT revolution have yet to fully filter down to end-users. It is therefore unsurprising that staff feel emotionally detached from their distant service providers, and/ or frustrated by poor service and the glacial pace of change. But IT is all about the people. Without doubt, implementing significant change to the IT model of any organisation has a huge impact on its staff and people. Getting the balance and approach right is of the utmost importance, as their attitude and buy-in to the changes will ultimately determine if the project succeeds or fails. To say that people are scared of change is too simplistic an
excuse, and not true. If people understand the changes that are taking place, and can see the benefits that change will bring them on an individual level, then they will buy in to it, and move mountains to make that transition a success.
introduce a new technology, system, or solution first, and then, rather like putting lipstick on a pig, try to bolt on a significant change project to communicate, sell, and get the most from the new technology. But if you didn’t start with
All too often, staff become disengaged with their IT at work because they feel the business isn’t listening, and is failing to implement technology to fix the real problems Communication between the business, IT organisation, its providers, and staff is paramount, and should be regarded as one of the most important elements of the project lifecycle. PEOPLE-CENTRIC A key factor that organisations often get wrong is that they
the business and its true needs when you were planning the solution, you can, sure as eggs-are-eggs, bet that the system you are now going to deploy will not meet people’s needs, or be an understandable intrusion to their daily life. By the time the change project is implemented, staff are already
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TECHNOLOGY
IT projects are generally sold on the ‘logical reason to buy’, and seem to overlook the emotional reasons, which is why so many IT projects fail to resonate with users disengaged with the situation, and the opportunity to get them bought into the project has been lost. Yet start with a people-centric approach, and the rest comes easy. The more the business puts into the people process at the start, the less time will have to be spent fixing the back end when the project rolls out. Projects turn from ‘push’ and resistance to ‘pull’ and genuine delight from the business and its users. You want staff champions, or user reps, to go ‘wow, yes we want that’ and encourage their teams. BUT WHAT DO THEY WANT? Asking your business colleagues what they feel is wrong in their current systems, or what should be altered to make their working day easier, can provide visibility of the pain points that the IT service team needs to fix. Business IT can learn a lot from the consumer IT world, as there is a wealth of fantastic cloud-based technology out there, which has been designed specifically with the user experience in mind. All too often, staff and users become disengaged with their IT at work because it is felt that the
business isn’t listening to their pain points, and is failing to implement technology that fixes the real problems. Moving forward, businesses need to create emotionally intelligent IT departments, that listen properly to users and understand the challenges they have. For a business area used to dealing with grey equipment and technical issues, this may all sound too pink and fluffy - but it is a crucial part of any business IT project. Normal IT is all ‘left brain’. How can a project-proposed IT solution work effectively and productively, if those selecting the systems are unaware of the problems that exist with the old way of working? WHY WE BUY The only reason people buy something is due to an emotional state change - maybe it will make you feel prettier, make you less anxious, fit with your peers better - everyone buys for an emotional reason, and then justifies that purchase with a logical reason to buy. Take buying a new car, for example - emotionally you feel you need a new car because you deserve it or will feel happier, and then you think about the
logical side: a new car will be more efficient, or selling the current car now will bring a better price. But all IT projects are generally sold only on the logical reason to buy, and seem to overlook the emotional reasons, which is the reason why so many IT projects fail to resonate with users and fail to be adopted. Businesses need to start using this insight when they plan, deliver, and deploy their IT projects. If you can tap into the emotional reasons your users will want - or not want - the solution, then you will be armed with far better ability to frame the logical reasons and, by marrying both together, make your programmes far more successful. Simply put, IT teams need to move beyond the logical, analytical confines of standard IT approaches and tap into people’s emotional connections to the way in which they work. Any IT project, which has its staff and users fully emotionally engaged with the solution, will dramatically increase its chance of success. Contact: www.velocity.consulting
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19/05/2015 20/03/2015 12:36 15:18
TECHNOLOGY
ORTIS DELEY
Tech Review
Each month we give Ortis Deley, from Channel 5’s The Gadget Show, a gorgeous piece of tech to test drive. Whether it’s for business or pleasure, he’ll give you the low down on the best gadgets money can buy OTONE BLUFINITI WIRELESS BLUETOOTH SPEAKER PRICE: £49.99 AVAILABLE FROM: www.otoneaudio.co.uk
From the gorgeous curves and green/grey colourway (five other colours are available), to the simple row of buttons on the top, and the wee, grippy rubber feet on the bottom, it was simply gorgeous
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he Otone Blufiniti wireless Bluetooth speaker won me over as soon as I unboxed it - I love the design! From the gorgeous curves and green/grey colourway (five other colours are available), to the simple row of buttons on the top (power, Bluetooth and volume control), and the wee, grippy rubber feet on the bottom, it was simply gorgeous. The speaker comes with a micro USB port for charging; a 3.5mm AUX-IN port for hardwiring your device to it;
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TECHNOLOGY
Small enough to fit into a man-bag ( it’s about the size of a 500ml bottle of water ), it’s a definite candidate for a weekend away or perhaps a beach holiday
and two cables - one for charging, and the other a direct connection. The unit can stand upright, on its side, or be laid horizontal. I preferred the latter, as I felt the sound was somewhat better, in that I could sense a tad more of the bass. I’m actually listening to music on the device as I write its review. Now the Blufiniti is marketed as an entry level portable speaker (it weighs in at just under £50), so no great shakes should be expected from its sound reproduction. However, using it as a desktop speaker is preferable to what comes out of my desktop. Small enough to fit into a man-bag (it’s about the size of a 500ml bottle of water), it’s a definite candidate for a weekend away or perhaps a beach holiday (although with the latter, you’ll need to be ultra-vigilant and not allow contact with moisture). Carrying options are available too: there’s a loop for belt attachment and a neoprene pouch. Returning to sound reproduction -
the sound didn’t blow me away, but tones were clear, the volume was loud enough to cover an intimate distance and, most importantly, didn’t distort at max volume. It has a range of 10m, which is perfect for the office and say, hotel rooms. Syncing up with your tablet/ smartphone is straight-out-of-the-box simple, or you can use the infinitely simpler near field communication (NFC) coupling function: activate NFC on your personal music device mine is always on, but this doesn’t suit everyone - and then touch it to the top of the speaker. You’ll be asked if you want to pair your device with the Blufiniti. Simply tap ‘yes’ and you’re away. Thanks to an in-built mic, the Blufiniti will act as a speakerphone so you can continue putting together your budget figures while you take that important call. This speaker’s 2x1.5” 5W drivers are small, and the main reason there’s a distinct lack of bottom on
its output. That said, they handle the mid- and upper ranges well enough, and will not let you down if pop music is your thing. If bass is what drives your musical tastes though, you’ll probably need to spend an extra £30-£50 for something with more oomph.
VERDICT: The Blufiniti is a very nice little unit: well built, capable, and affordable. You’d be very hard pressed to find better for the price. It’s great for the office, as the speakers don’t produce too offensive a sound (personal music tastes aside of course). I’m reliably informed Otone is soon to release a Blufiniti+ too. I’m hopeful that ‘+’ stands for a smidge more bass.
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100 Ways to Improve Your Business How Many Of The 100 Things That Successful Businesses Do Can You Check Off Your List?
I
f you are a business owner reading this magazine, then you probably know instinctively that with all businesses, no matter how big or small, or how successful, there is always room for improvement.
Every business is different, but the basics of running a successful business apply to everybody.
The problem is that running a business involves a lot of hard work. There are always a thousand and one things that demand your time, while everything around you is changing every five minutes.
If you want to improve your business, the last thing you want to do is to turn it upside down and put it through a period of chaos. This is often unnecessary and potentialy disastrous.
As a result most businesses just jog along and get nowhere near reaching their full potential.
Get your FREE GUIDE now - ImproveBusiness100.com
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The difference between a successful business and an average one is not a matter of doing anything spectacular, but in doing those simple basic things well.
It is much better if you can make a series of small manageable changes, the sum of which lead to a fantastic overall improvement of your business. The chances are that you are already doing many of the 100 things that successful businesses do, which is great. But there are probably still dozens of items that you can take action on, or prevent you making some common mistakes as your business grows.
This jargon free guide is a checklist that allows you to assess where you are now and point you towards the actions you need to take to fill in the gaps. It’s full of practical proven strategies, for making changes that work and deliver results. Get your FREE guide now at ImproveBusiness100.com
Get your exclusive FREE guide now and start checking off 100 Ways To Improve Your Business:
www.ImproveBusiness100.com
27/05/2015 17:09
TECHNOLOGY
Wonderful websites without the worry
Why should SMEs look to WordPress? Richard Stevenson, 1&1 Internet Ltd, reveals all
I
n today‘s digital world, the majority of consumers are searching for products and services online. Even for firms operating solely on a local level, a well-designed website is an essential. Nowadays, there are endless options to create an online presence: website builders, content management systems, web designers, etc. But what is the easiest choice for SMEs? In many cases it could be the content management system, WordPress. Here’s why: FREE OPEN SOURCE SOFTWARE One of the biggest contributors to the popularity of WordPress is obviously that it’s completely free to use. The only thing needed for operating a website using this application is a reliable hosting platform. There are plenty of web hosting options that fulfil the minimum requirements, but it’s recommended to use a solution optimised for WordPress. EASY TO INSTALL AN UPDATE In comparison to other content management systems, it’s simple to install, and set up a project. WordPress optimised hosting nowadays installs the application in just a few clicks, and will guide users through the initial steps of customising their project within the WordPress dashboard. In order to ensure optimal security and performance, there are a number of easy-to-use tools for automatically updating WordPress installations, themes, and plug-ins.
MASSIVE PLUG-IN MARKET The standard WordPress installation is great, but it’s easy to enhance the basic features and make it even more powerful by adding plug-ins. There are thousands available, mostly free. Plug-ins can attract attention and add the functionality necessary to transform visitors into customers. Social plugins, for example, make it easy for each visitor to share content directly from a website to their networks on Facebook or Twitter. This means building brand advocates and a strong community is just a few clicks away. DIFFERENT THEMES FOR ALMOST EVERY INDUSTRY WordPress offers a more diverse library of design templates than any other content management system, website builder, or blogging platform. With thousands of free and premium choices, businesses are likely to find the perfect theme to reflect their image and goals. It’s also possible to create unique design templates, a process which is relatively simple for those experienced in coding.
CONTENT WITHOUT CODING Maintaining some types of website can become expensive when the owner has limited experience with coding. WordPress enables users to update every page, and post content as quickly and simply as if they were using Microsoft Word. By easily integrating a blog into their corporate web presence, small businesses can build a stronger brand, and connect with their audience. PERFECT FOR SEO Appealing to search engines and their ever-evolving algorithms, can be a daunting and expensive task for many small firms. WordPress users can minimise that stress because the application’s simple layout and usage of permalinks are naturally attractive for search engines. SEO is already implemented in the platform’s core, and by adding specific plug-ins, it is possible to further improve the visibility for web crawlers. Contact: www.1and1.co.uk
Social plug-ins make it easy for visitors to share content directly from a website to their social networks. This means building brand advocates is just a few clicks away talkbusinessmagazine.co.uk 113
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www.microsec.co.uk Call 023 9251 8250
Mobile Apps for Business: BEYOND THE APPSTORE
By James Lavery, Microsec Ltd
O
ne of the most common Google search terms around business mobile applications that we’ve identified here at Microsec is “best business apps”. There are certainly lots to choose from, and each selfcontained app does a very specific task: mileage calculator, receipt tracker, business card scanner, credit checker, etc.. In fact, TalkBusiness ran a feature on their own Top 10 off-the-shelf business apps. These types of apps have a big part to play in removing admin overhead and nuisance value from the everyday life of the SME, but they aren’t aimed at changing the way businesses work. That’s what the rest of this article is about – going beyond the pre-built, AppStore applications to re-think how you work with your customers and prospects. IDENTIFY YOUR OWN APPS – FREE OF CHARGE If, like most companies, you have a desktop software package that underpins your key business activities - likely built out from a central accounting module – it can be difficult to see the benefit of developing your own unique business mobile apps, and how and where they would “fit” alongside established systems. The key is to find out where and how
mobile working could make a difference. This is especially important as building apps unique to your business isn’t cheap, so you have to be sure that there’s a real Return on Investment. Microsec runs an initial noobligation Mobile Opportunity Workshop for businesses in which we look first for the potential business improvement that will follow from the technology. Since we also build entire custom software systems from end-to-end, it’s always been our approach that any proposed mobile element is treated as a potential core business process, and if we can’t find the ROI in the development, we’re the first to say. WHAT DO UNIQUE APPS COST? This is perhaps the wrong question – rather we should ask “Where is their value?” The value for Microsec client ArbPro, offering a management system for tree contractors, emerged when a critical driver of business, i.e., face-to-face customer contact, was transformed by a unique mobile app. Surveyors can now spend all day in the field, visualising and estimating new work, and crucially, closing more business and immediately scheduling teams, all without having to come into the office any more. A similar order of return was enabled at Autoforms, a business services company, when we built a Cloud-based
tablet application that dramatically improved efficiencies and throughput in commercial property inspection. THE BEST APP MIGHT NOT BE ON YOUR OWN DEVICE From a slightly counter-intuitive viewpoint, it’s possible that the app that makes a difference might not actually be for you, but for your customer. This alternative thinking, pioneered by pharmaceuticals companies, can now be found at local level where, e.g., accountants could distribute an app to their clients to allow them to submit their book-keeping, and so transform annual accounting procedures. These customer-oriented apps can do wonders for relationships, but come with a caution on compatibility with customers’ different mobile platforms. Finally, it is worth reminding ourselves that smart devices - smartly used – really are a “game-changer”, and a shrewdlyassembled portfolio of mobile apps should be among the strategic priorities of businesses. To discuss the no-obligation Mobile Opportunity Workshop for Talk Business readers, or if you have a requirement for bespoke software development, get in touch via www. microsec.co.uk or call 023 9251 8250 quoting “Talk Business May”.
PLEASE CONTACT US ON 023 9251 8250 FOR ANY CUSTOM SOFTWARE REQUIREMENTS
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TECHNOLOGY
I’ve got an app for that Each month we bring you a selection of our favourite apps for business or pleasure. This month we look at Hotspot Shield, protection for your phone if you are using public WiFi, and LastPass, which helps you keep track of your passwords
HOTSPOT SHIELD VPN
LASTPASS
PRICE: Free COMPATABILITY: Android, iOS and Windows THE GIST: It is nice to get out of the office every once in a while, to go down to the local coffee shop for a change of scenery. But all those pesky emails won’t read themselves. Luckily, with today’s technology, it is possible to work out of the office on your phone, connect to public WiFi, and even save your precious data. However this is when you are most at risk; this is when hackers are at an advantage to steal information you may have. Hotspot Shield protects you against that. You can get complete WiFi security so you are safe from any potential dangers that may be attributed to using public WiFi on your phone. You can also unblock any websites that may be restricted by the WiFi provider, and you can enjoy anonymous web browsing. It provides private and secure browsing for all your business needs. DOWNLOADABLE FROM: www.hotspotshield.com
PRICE: Free COMPATABILITY: Android and iOS THE GIST: How many passwords do you have? As a business it is sure to be in the 20s; everything you buy seems to require you to sign up, create a profile, and create a new password. Each password may require different sets of rules, upper case, lower case, numbers, symbols - but how can you keep track of them all? This is what LastPass does. Billed as the last password you have to remember, LastPass stores all your passwords in one place, and secures them. Using encryption technology, your passwords are protected, and if you think that is not enough, you can add multifactor authentication options so you have a second log in step protecting your account. LastPass really is the last password you have to remember. DOWNLOADABLE FROM: www.lastpass.com
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Buy a sandwich
franchise with
Why buy a sandwich franchise? • The British ‘on the go’ sandwich market is currently valued at £3 billion • 1.8 billion sandwiches are bought in the UK every year • A healthier fast food option
Visit FranchiseSales.com to find out about buying a sandwich franchise – and more!
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07/03/2014 10:36:03 13/04/2015 17:04
FRANCHISE
franchise
Boutique news Honey to enter the SUBWAY celebrates big franchise milestone The submarine sandwich store franchise hits 500 non-traditional stores mark
T
he SUBWAY brand has been celebrating after reaching the significant milestone of more than 500 stores now open within non-traditional locations in the UK and Ireland. Non-traditional stores are located in off-high street sites, such as petrol forecourts, convenience stores, hospitals and transport hubs, universities and colleges. News of the SUBWAY brand reaching over 500 non-traditional stores comes hot on the heels of the brand’s recent announcement that it has opened its 2,000th SUBWAY store in the UK and Ireland. Providing expert advice and information from the SUBWAY brand, will be a team of development agents, franchisees, and Alice Chalmers, national accounts manager for SUBWAY UK and Ireland. Alice comments: “As the UK and Ireland’s largest specialist sandwich provider, it’s vital for us to lead the way in the convenience retail sector. When discussing opportunities with potential franchisees and landlords, we highlight the benefits that the addition of a SUBWAY franchise into a convenience store can bring; for example, increased footfall and excellent business growth opportunities.”
Contact: www.subway.co.uk/business/ franchise
franchise market The Glasgow-born fashion brand has seen success online with Honeyz.com
A
t the age of 22, founder Sarah started the brand by opening stores in Glasgow (Partick and Shawlands) under the name Honey Boutique, despite being told it wouldn’t succeed. Six years later, and her entrepreneurial spirit has led her to also have a very successful consumer website (Honeyz.com), as well as expanding nationally with pop-up shops, along with international plans. With current profits from online sales on the consumer site set to increase by a projected 110% by November/December this year after
the launch of the new SS15 celebrity collection and further ranges, Sarah is also keen to spread her knowledge and experience by helping others who want to set up their own business with a franchisee scheme. Offering franchisees the chance to buy into the brand for £10k and just £150 per week, this will also include the owner of the company offering up her time and expertise to ensure the new store is a success. Contact: www.honeyz.com
100 not out for One Stop franchise Phenomenal milestone hit after just 15 months
O
ne Stop is celebrating treble figures for its franchise operation, just 15 months since the full roll-out. The 100th store to sign up to One Stop’s franchise model is located in the Midlands, and will be undergoing its transformation within the next two months. The store’s exact location is being kept under wraps until the full refit has been completed - with plans to celebrate its status as the 100th franchise during its official launch.
Andrew King, One Stop franchise director, stated: “Six months on from our first major milestone, and we’re delighted to hit the 100 mark. It’s a tough market out there, but our focus on driving sales and profits, helping retailers to cut costs, and make their day-today operations much simpler, is showing through on their bottom line.” Contact: www.thebfa.org
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FRANCHISE
Baby boomers I
f you thought franchises were just about fast-food outlets, you’re a little behind the times. One of the UK’s latest franchise opportunities has taken a fresh business concept - a commercial but cosy, friendly, and fun scanning facility for expectant parents - and is, quite literally, blooming.
partner, Mark Witter, about his hopes for the business, and what potential franchisees might expect. TELL US A LITTLE ABOUT THE HISTORY OF THE ‘WINDOW TO THE WOMB’ FRANCHISE The business was started in 2003 by a Nottingham-based family, the Bowbanks. While on a family
Dynamis’ Nicky Tatley catches up with fast-rising franchise, Window To The Womb, to get an in-depth look at how they run the business and choose potential franchisees
We visited the Norwich branch of the Window to the Womb franchise network, and discovered a bustling hub of excited pregnant women and their extended families, in a busy shopping district, where allocated appointments allow clients to meet their imminent arrivals in style, and on their own terms. Vastly different to a nailbiting, time-constrained, hospital scan, the Window to the Womb experience includes an intimate, relaxed, 4D ultrasound, along with calming music, low lighting, and sofas for family members to gather on. Customers end their trip by choosing from a selection of 4D images of their baby to take home and treasure. It’s a simple idea, but a brilliant one, and we talked to franchise
holiday in the US, they saw a scan studio operating, and on the return flight decided to make a complete life change and open a studio in their home town. My business partners and I first met the family in 2012. Our backgrounds are the development of start-up or small scale brands, through a national franchise strategy. Once we got to know the family and their business, we recognised a unique opportunity to combine our skills and experience with theirs, and to expand the business nationally, through franchising, to become the market leading brand within this new sector. The simplicity of the concept and the potential returns makes this business model an ideal one to offer as a franchise.
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FRANCHISE
The more revenue that a franchisee achieves through their hard work, the greater the cash amount they pay to the franchisor. This is a disincentive to franchisees to grow their businesses to its full potential
IS YOUR FRANCHISE MODEL SIMILAR TO OTHERS IN THE UK? In some aspects, yes, in that we offer exclusive territories, use of our branding and IP, access to our business methods and expertise, and automatic renewals of our franchise agreements. In other key aspects of our franchise package however, we’ve opted to do things very differently. Most franchise models charge a variable franchise fee (i.e. a percentage of the franchisees monthly gross turnover) and many also charge a marketing fee, which is similarly variable. This leads to a particular scenario: the more gross revenue that a franchisee achieves through their hard work, investment, and endeavour, the
territories. In these models, territories are usually designed to accommodate only one trading unit, and therefore franchisees who wish to expand are required to ‘buy’ a new territory, which may be a long distance from their initial territory. This provides serious operational challenges to the franchise owner, both in terms of distances between their businesses, inability to secure economies of scale, and a lack of any local knowledge of the new territories. We were keen to ensure that all of our partners had fair and achievable expansion opportunities, and have created just 41 UK territories. As a result, our territories are much larger and provide our franchise partners with local expansion opportunities.
with the local NHS and the parent’s preferred medical professionals. Our franchise partners are not required to have a medical background; they will be fully trained by us and will, as a consequence, be very aware of their role and responsibility in the professional care and wellbeing of our customers. HOW DO YOU FIND YOUR CUSTOMERS? Much of our marketing activity is online. We’re very active on social media, as we know that our target customers are equally active here. We’ve effective processes in place to encourage repeat and referral business, and our website currently attracts upwards of 20,000 unique visitors per month.
We’re in the very fortunate position of spending our working days introducing parents to their unborn babies, and it really doesn’t feel like work
greater the cash amount that they pay to the franchisor. We strongly believe this is a disincentive to franchisees to grow their businesses to its full potential and that franchisees who do drive their businesses hard should benefit. We believe that all of our franchise partners should receive the same level of support from us, and hard work should be rewarded. We therefore charge a fixed monthly fee of £1,500 to all franchises. This means we offer the same ‘package’ of services to all our franchise partners, irrespective of their turnover, and it also means that the higher turnover businesses retain a much greater proportion of their revenues. HOW DO YOU ALLOCATE TERRITORIES? Franchisors that adopt a territorybased model such as ours, typically divide the UK into 100 or more
THERE MUST BE SOME MEDICAL REQUIREMENTS FOR RUNNING SUCH A FRANCHISE WHAT WOULD A POTENTIAL FRANCHISEE NEED TO KNOW? All of our studios are fully registered with the Care Quality Commission, and all of the sonographers that work within our studios are fully trained, qualified, registered, experienced, and, in virtually all cases, work within the NHS, so are fully conversant with current practices and standards. We don’t scan before 16 weeks of pregnancy and, as a result, it’s rare for us to identify any serious abnormality as these are usually spotted at the 12-week NHS scan. On the rare occasions that one of our sonographers does see, or even suspect, that there may be a problem, our approach is always one that combines care and compassion with professional and rigorous communication
WHAT SORT OF LIFESTYLE COULD A FRANCHISEE EXPECT TO HAVE? Our studios typically operate for 25-30 hours per week, so it is very possible to achieve a great work/life balance. If particular franchise partners want to drive their businesses harder, or even open further studios this opportunity is open to them. Our studios generate an incredibly special atmosphere; we’re in the very fortunate position of spending our working days introducing parents to their unborn babies, and it really doesn’t feel like work! Contact: www.windowtothewomb.co.uk talkbusinessmagazine.co.uk 119
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ADVERTISING FEATURE
Dynamic and recession-proof high-street franchise The ZipYard is the fastest growing garment alteration franchise in the UK. With distinctive branding and a well-planned shopfit to minimise square footage for maximum profit, the opportunity provides owners with a business that is welcome in any high street
O
fficially launched in Britain by The Bardon Group in 2011 growth has been very strong and the company is well on the way to achieving its first target of opening 50 centres in the UK. The business provides a much-needed service and has a real role to play in the rejuvenation of the UK’s high streets. New openings are well supported by local dignitaries including mayors and MPs notably the Chancellor of the Exchequer, George Osborne who officially opened the Wilmslow ZipYard in 2013. The Bardon Group runs three other wellknown franchise brands – Recognition Express (est. 1979), ComputerXplorers (since 2005) and Kall Kwik (first franchised in 1979) and has a management team that is long established in the franchise industry. Specifically designed to project a stylish, high quality image, the ZipYard offers a wide range of alteration and tailoring services, all done on site by trained professionals in purpose-built, beautifully shopfitted centres, branded in the ZipYard’s signature eyecatching yellow and black colours. From dress re-styling and taking in or letting out to bridal-wear fitting or formal wear alterations, the ZipYard provides convenient, speedy and cost effective clothing alterations and repairs. The ZipYard franchise package is a total turnkey operation, comprising a complete shop fit, state of the art machinery, computer systems and a comprehensive marketing package which includes regional PR activity. The package includes industrial sewing machines, specialist alteration and repair machinery, a computer, software, EPOS
system, signage, fixtures and fittings, various consumables, starting stock, plus training and ongoing support from the franchisor, and a marketing and PR campaign to launch each centre.
Why choose The ZipYard?
Former driving instructor Richard McConnell, 34, opened England’s first ZipYard franchise in Altrincham in 2011, which was followed by a second centre in Wilmslow in 2013. “We did lots of research in the franchise press and online, and looked into a wide variety of franchises,” said McConnell. “The Altrincham ZipYard has exceeded
all of our expectations, and the model is so well thought out that it was easy to replicate in Wilmslow. Our reputation went before us and the customer base in the new ZipYard is building very nicely. “Initially it was my wife who noticed the ZipYard advert and she thought it was a fantastic idea. We did some research and quickly realised that there was no real competition in our area. Most of the time clothing repairs are done as a bolt-on service at dry cleaners. The turn-around time isn’t very good and they don’t offer a very wide range of services. “We went to meet Nigel Toplis, the franchisor, and we visited a centre in Wales.
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ADVERTISING FEATURE
“Being your own boss is hard work but very gratifying. Having the opportunity to make your own decisions is very satisfying but knowing you can rely on the franchise group gives you the confidence to approach situations with ease and a shared experience” Kevin Old, The ZipYard in Bournemouth
limb. It’s been teamwork from day one.” “I would definitely recommend the ZipYard to other potential franchisees. I’m learning all the time and it’s such a sociable business. I really enjoy talking to the customers and I get such a feeling of satisfaction from seeing how happy they are when their clothes fit properly,” she added.
Marketing
Head office provides a wide range of marketing support to the network including email marketing, a comprehensive range of promotional collateral and window posters that are supplied free of charge throughout the year to each centre. All franchisees also have access to a retained PR agency that carries out regular regional seasonal activity on behalf of the ZipYard to raise awareness and generate footfall to the centres.
We were impressed by the professionalism of the franchise. The brand is very strong and the shop fit is amazing, from the fitting rooms to the equipment and layout. They really know what they are doing and can cater for every kind of alteration and repair on site.”
Training & Support
All franchise owners have a two-week comprehensive induction programme that covers business practices, computer systems, running a centre, marketing and promotions, and recruitment. Part of the training takes place in an existing centre that is up and running to provide a proper hands-on
experience. Every aspect of the set-up from finding premises to launching and promoting the centre is fully supported by the franchisor. Once up and running the support continues with additional training, business and product development work, on-going business advice and planning, marketing and PR. Jill Phillips, 46, set up the ZipYard in Basingstoke in May 2012 after being made redundant 8 months previously. “The whole team has been fantastic,” said Phillips. “From the training, which was very hands-on, to the huge level of support I’ve had, it’s all been great. Although it’s my business and the buck stops with me, I’ve never felt alone or out on a
Contact: Emma Downes t: 01530 513307 e: edownes@thezipyard.co.uk Total Cost: £38,500 + VAT plus shop fit
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We’re turning the world of sme finance
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27/04/2015 14:09
FRANCHISE
R
esearch is king when it comes to finding the right franchise for you. Your research will help you identify the good from the bad, the genuine and excellent franchise opportunities from the rest. There are certain key aspects of every good franchise that will help you make those distinctions. Regardless of business sector, brand size, or company history, before signing a franchise agreement you should make sure you’ve confirmed all the following:
1
The business model needs to be proven for a minimum of 12 months. Franchising is based on empirical, evidenced business success, not concepts or ideas.
2
The franchise opportunity is the same as the proven business model i.e. if the original business was a concession stall outside a train station, the franchise shouldn’t be a high street retail unit under the same brand.
practice, and will provide all the details needed to show a franchisee how to run the business.
8
A franchise agreement, the legal contract that defines the nature, obligations, and clauses of the relationship between franchisor and franchisee, is a substantial document designed to protect both parties and
3
The brand will be protected by the franchisor to prevent unwarranted and unwanted misuse - ask about trademark and IP registrations.
4
The business model must be transferable, able to be duplicated in more than one location or area; for example, a surf shop in Wolverhampton may not be the best franchise!
Finding your perfect match The franchise agreement is a substantial document - if it’s two pages long or sent in the body of an email, you need to re-think your choice
5
The operation should be teachable and provide a full training programme to ensure new franchisees have the right skills and knowledge to run the business. This can vary from very short training programmes of a few days, to ones of several months.
6
Franchisees will be supported by the franchisor in return for an ongoing management service fee, or royalty, payable by the franchisee. The fees provide the right for the franchisee to call on qualified support as and when necessary from head office - be that marketing, admin, business development, or something else.
7
There should be a substantial operations manual, which clearly defines how the business works in
Paul Stafford, expert at the British Franchising Association, explains how you can identify ethical franchises clearly set out what is expected of them - if it’s two pages long or sent in the body of an email, you need to re-think your choice. This is a legally-binding document which needs a specialist franchise solicitor to review it before you sign.
9
All genuine franchises provide the opportunity to run your own business under agreement, using the franchisor’s brand, system, training, and support. It’s worth repeating - it is your business. You’re a business owner and not an employee. Every good franchise makes this clear and is structured in a way that allows you to build customer loyalty and brand awareness with your business locally. You’re building an asset that, if successful, appreciates in value allowing you to profit from its sale.
The best advice always remains: take your time and research everything you can on the brand, the people behind it, and the franchise opportunity on offer. Contact: www.thebfa.org talkbusinessmagazine.co.uk 123
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SPONSORED ARTICLE
SPONSORED ARTICLE
Your company website how to hit the sweet spot
F
or any start-up, making sure you don’t dip your hand into the cookie jar too often is important, but many fail to realise the importance of having a good website and the dramatic impact this will have on the growth of their business. First impressions are everything, and your website is your opportunity to ‘reflect’ your business online. You only have two seconds to engage web visitors, so it’s vital that you get it right. In today’s age it’s accepted that not having a good website will cause a large portion of the market to discount you at the outset; today though, your website must also be easily useable on a mobile device: with 77 percent using their mobile device to make online purchases or search for suppliers, if your site isn’t mobile optimised, many people won’t even consider you as an option when they are looking to buy. This has become even more pertinent since Google changed its search algorithms to include mobile friendliness, meaning that if your website isn’t both viewable and functional on a mobile device, your customers might not even be able to find you when they search, which could leave a sour taste. Users should be able to access your website from whatever device they are using, so it’s important that you know your strategy is in the safe hands of a forward thinking digital marketing partner, who can make the internet profitable for you. In fact, choosing the right supplier for your digital marketing needs has never been more important.
HOW TO MAKE YOUR WEBSITE WORK FOR YOU: 7 LITTLE GEMS 1 A SWEET DESIGN The first time someone visits your website, they will make a judgement on how reputable your business is. It needs to look smart, slick and professional. Your website will suffer if the copy is not checked carefully and regularly for spelling and grammatical errors. After looking at it for days on end, mistakes are easily missed – get a fresh pair of eyes to check new content over before it goes live. 2 MAKE IT TASTE AS GOOD AS IT LOOKS No matter how attractive your website is, remember that your visitors are ultimately looking for good, relevant content. All singing, all dancing sites are great, but a website containing accurate, easy to find information will bear more fruit in terms of sales and incoming enquiries. 3 BEING ABLE TO PICK ‘N’ MIX A website shouldn’t remain static and unchanged for long periods; there will be various reasons to update your site over time, and fresh content keeps people coming back. However, spending hours trying to update your website’s content is not a good use of your time, and failing to do so will lead to out of date, tired content that will turn potential customers off. A good content management system will make it easy for you, or your web design company, to update content when you need to. 4 DON’T FUDGE THE NAVIGATION It’s easy to forget that your audience may enter the website at many points, not necessarily always the home page. It is crucial that visitors to your site are able to return to the home page or other pages from anywhere on the site, or else you risk losing them before they’ve found what they’re looking for. Most people scan webpages quickly to find the data they
want, so it’s important to make it easy for them. Remember also that the world is full of different computers and different browsers. Make sure that what looks wonderful on one machine doesn’t look less attractive on another. 5 EARNING THE BOUNTY It should be very obvious to your prospective customer how to make a purchase, complete an order or enquire about your products or services. You also need to make it easy for visitors to see the benefit of buying from you, and help them make their decision: many websites now provide “how-to” tutorials or free tips, and information, to guide prospective customers through the buying process. The easier it is to buy, and the more informed your customer feels, the more likely they are to buy from you. 6 GIVE IT A BOOST A brilliant website is nothing if users cannot find it - that is why SEO should be integral to any online marketing strategy. Over 80% of purchases now start with an online search. Search engines are there to provide relevance to the user, so optimising your website’s organic rankings for a range of relevant keywords will generate higher volumes of ‘qualified’ traffic to your website, increasing the number of new business enquiries. 7 JELLY BEAN COUNTING Remember that your website is a sales and marketing tool, so you should be able to measure how successful it is in generating revenue for you. Armed with statistical insight into how visitors are interacting with your website, you’ll be able to measure its effectiveness and ensure results are being maximised, leading to increased incoming enquiries, and ultimately more revenue.
Reflect Digital offers expert online enquires before 30th June. Reflect Digital offers expert online For more information For more email information marketing services to businesses services to businesses of marketing various sizes throughout the hello@reflectdigital.co.uk, email hello@reflectdigital.co.uk of Whatever various sizes the UK. call 0844 870 5204, or check UK. yourthroughout needs, Reflect callDigital 0844 website: 870 5204, or check out Whatever Digital offersyour web needs, designReflect and Digitalout the Reflect offers web design and build as well as build as well as the complete www.reflectdigital.co.uk. the Reflect Digital website: the mix of digital marketing mix ofcomplete digital marketing services, www.reflectdigital.co.uk services,SEO, including SEO, PPC, Social including PPC, Social Media websit e audit Marketing and Emailand Marketing. Media Marketing Email Marketing. , worth £ This month only, Reflect Digital 495! is This offering a free website month only, Reflectaudit, Digital is offering worth £495, to any business a free website audit, worthwho £495, to any business who enquires before 30th June.
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ADVICE
The sales DOCTOR This month Sales Doctor, Tony Morris gives expert advice on how to (and why you should) get your sales team to see a deal through to the finish
Dear Sales Doctor, My sales team make a sale and then fob the client off onto other departments with no regard for what happens next. I don’t think this shows great customer care. How can I make them see the importance of looking after the client from start to finish?
T
his is so common, and it’s a major reason why salesman can have a bad name. It’s those minority that ruin it for the sales professionals. It’s been statistically proven that you are four times more likely to sell another product or service to a happy customer than to a new prospective customer. That should be a good enough reason to look after your customer from start to forever; if this is done correctly, you should never need to cold call again. Now, many sales people will argue that they only have one offering for their customers, and therefore there is no chance of repeat business, but this is closed-minded thinking and an easy excuse. It’s been said that everybody knows a thousand people. When I first heard that at a business conference, I remember thinking to myself, ‘that’s rubbish - I’ve got five mates!’ However, in hindsight, I have 950 LinkedIn connections,
350 clients and five mates; so I technically exceed the thousand. So if you look after your customer from start to forever, then when you ask them for a referral to one of the thousand they know, it’s likely they’ll know someone that you can help. I hate the word ‘closing’. You’re taught in sales A, B, C Always Be Closing. This implies asking for the business. Don’t get me wrong, I’m all for asking for the business - in fact I insist on it, however I feel the word closing implies that’s the end point. I think it should be called ‘opening’; we open a client and that’s when it becomes the start of our real business relationship. They say the first ten seconds of speaking to a prospective customer is the most important. I understand this, as you need to engage the prospect, create a need, and build rapport. However, once they become a customer, the last ten seconds is what they’ll remember, not the first.
I feel the word ‘closing’ implies that’s the end point. I think it should be called ‘opening’; we open a client and that’s when our real business relationship starts Improve your sales techniques by getting your hands on a free eBook, Coffee’s For Closers. To get yours, simply email tony@salesdoctors.co.uk with the subject line ‘Talk Business free eBook offer’.
Contact: www.wedosalestraining.com
NEED A DIAGNOSIS? Send your sales problems to the editor, marked ’FAO the sales doctor’: editor@talk businessmagazine.co.uk
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Digital Nomads Limited 0843 289 0299 mail@digital-nomads.com @nomadbuzz
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ADVICE
Ten tips for becoming a great negotiator
N
egotiation is at the heart of life. It’s so important, they should teach it in school. As well as in business, most days I have to negotiate with my wife, my children, and even our dogs! They (the dogs, that is) are much keener to come in from the garden if I use a treat to ease the deal. Even so, plenty of people have told me over the years they don’t feel confident enough to conduct a negotiation, especially not an important one. Try as they might to avoid it, even these people will probably need to negotiate a salary, house purchase, or the like at some point in their lives. So in my view, we all need to learn the
Ian Baxter, chairman and founder of Baxter Freight, shares his insights on the powers of persuasion, with tips on how you can get the best out of any deal
A negotiator should observe everything. You must be part Sherlock Holmes, part Sigmund Freud - Victor Kiam basic negotiation skills set out below. I hope you will find them useful, and that you never use them to get the better of me! 1 HAVE OPTIONS The best tool for getting the best deal occurs outside of the negotiation altogether. It might sound strange, but if you want the best deal, then you have to be prepared to walk away sometimes. If you are selling a product, buying a house, or arguing for a pay rise, it is so much easier if you are reconciled to the possibility of failure, as well as being focused on success. Without some kind
of ‘Plan B’ you’ll never come across as confident enough or relaxed enough to win the day. 2 BE WELL INFORMED Doing your research is vital. The more information you have, the better things will usually go. These days, the internet has information on almost any subject, so there is no excuse for not using it. If other companies pay better salaries, or if the nicer house down the street sold for less three months ago, you have to know this, and use it to support your position when negotiating a deal. talkbusinessmagazine.co.uk 127
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ADVICE
3 PLAN, PLAN, AND PLAN SOME MORE It is no good entering a negotiation just contemplating what you would like to have you have to anticipate the needs and desires of the other person, and what their position will be. If you say ‘X’, they will most likely say ‘Y’, and so on. If they do say ‘Y’, have you thought about how will you respond and counter their argument? It pays to plan ahead and be prepared for anything. 4 EXPECT TO HAGGLE Not everyone expects to negotiate about everything, but if you buy a car, a house, or take a new job, there is often great scope to get a better deal. As an employer myself,
I can tell you that I would never think badly of someone trying to negotiate with me. Whether they would succeed though, is another matter altogether. 5 BE FRIENDLY While some people may prefer to be formal, I always think it’s better if people want to do a deal with me because they think (correctly!) that I’m a nice guy. This will also help to build a rapport with the person you’re dealing with - after all, if they decide they don’t like you or your demeanour, they’re less likely to bend to your desires.
6 ASK QUESTIONS I always like to ask the questions many are too embarrassed to ask. If you have any chance to find out how much the other person wants the deal, then do it. The more direct and open the questions are, and the more background you can find out, the better. Be careful though not to push your counterparty to give you their bottom line, because it may not really be their position, yet they may feel bound to defend it. Remember to listen carefully to the answers, and study the body language too. 7 LET THEM GO FIRST If possible, get your counterparty to make the first move, e.g. “I know this is the asking price, but what reduction could you offer?”
Once they’ve made their first concession, try to get them to make the next one as well. 8 BE BOLD Don’t be afraid to ask for much more than you want, or to offer much less than you are prepared to pay. You can always adjust your position later, and you never know - you might just get what you ask for. 9 TAKE YOUR TIME The use of breaks from negotiation, time-out to seek advice from third parties, or even putting talks on hold are all great ways to test the resolve of your counterparty. Silence also works spectacularly well. Say
Never try to make all the money that’s in a deal. Let the other fellow make some money too, because if you’ve a reputation for always making all the money, you won’t have many deals
you’re disappointed with the offer, and then shut up and see what happens next. 10 DON’T BE TOO GREEDY As the US billionaire oil magnate and anglophile, J Paul Getty said: “You must never try to make all the money that’s in a deal. Let the other fellow make some money too, because if you have a reputation for always making all the money, you won’t have many deals.” Armed with these insights you’ll be prepared to tackle any negotiation, and get the best for you and your business. Good luck! Contact: www.baxterfreight.com
128 June 2015
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25/02/2015 16:55
ADVICE
Legally speaking Each month an expert from solicitor, Wright Hassall, takes a look at a different dilemma for small businesses from a legal perspective. This month, Pete Maguire answers a question regarding confidential information
Q A
A competitor has gone into business with a manufacturer on a product similar to ours. We signed a non-disclosure agreement (NDA) when we met with the manufacturer. What recourse do I have? It’s clear from your question that the answer will lie in the scope of NDA you signed. This will determine what recourse, if any, you have.
overlooked, potentially giving the person with whom you’re sharing information some wiggle room, should they seek to take advantage. Key elements that should be SHARING CONFIDENTIAL covered include: • The scope of the confidential INFORMATION information to be disclosed. The crucial thing to remember is, • A requirement for the disclosure, whether inadvertent recipient (this can include or not, of any elements of your named employees) to treat invention before filing, not only it confidentially - including invalidates a patent, but will also sharing with third parties. make an NDA difficult to enforce. • A requirement that the Having an NDA in place before information is only to be used you share any information will for the agreed purpose. help you to be precise about the • An indemnity clause detailing scope of information you need compensation terms if to share, and whether or not confidentiality is breached. the sharing of information is • An assurance that the NDA mutual or one-way. Once it’s in does not confer any intellectual place, you must be meticulous property rights on the about recording and dating every recipient. contact with the third party, • An agreement that the including informal and formal recipient will return or destroy meetings, and the sharing of all all documents classified as technical details or drawings. confidential, if requested to do This will help to prove that the so, given a reasonable notice information is yours. period. KEY ELEMENTS OF AN NDA • How long information must remain confidential. This could Of course, the devil is in the be indefinite, particularly if it’s detail. There’s always a danger not patentable. that a vital aspect may be
BREACH OF AN NDA There are a number of circumstances, under which an NDA may be breached, including the information it was supposed to protect already being in the public domain, the agreement not being sufficiently tailored to meet the needs of the disclosing party, and an employee of the recipient company leaving and disclosing information to their new employer. WHAT RECOURSE DO YOU HAVE? Any recourse you have against the manufacturer will depend on the terms of the NDA you both signed, the law under which it is governed, and the extent of the damage caused by the breach. Most NDAs will include an indemnity clause that outlines any compensation payable in the event of a breach. You may also be able to apply for an injunction to stop the manufacturer selling the product. When it comes to confidential information, as with most things in life, prevention is better than cure. Contact: www.wrighthassall.co.uk Got a question you want answered by the legal team? Email editor@ talkbusinessmagazine. co.uk with the subject line “Legally speaking”
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ADVICE
Passwords, passwords everywhere
132 June 2015
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ADVICE
Fingerprint recognition was regarded as a great way forward but it’s just not secure enough, apparently
With so many passwords to remember, it can be tricky to keep all of your important data protected. The experts at Riverbank IT Management provide tips on how to safeguard your secrets
O
ur world seems to be awash with passwords. Passwords for work, passwords for email, passwords for shopping, passwords for the bank. They are all supposed to be different, they are all supposed to be memorised, they are all supposed to be so complicated that they’re un-guessable (which often just makes them harder to actually remember), and we are told to never, ever, write them down. It’s just not practical. It’s password hell. Surely there has to be a better way? WHAT NOT TO DO We’ve all seen some of the things you mustn’t do. You can’t use passwords like ‘password123’ or the name of your dog. You can’t have Post-it notes stuck to your screen as a reminder either. One surprising security failing is people’s willingness to tell other people what their password is. Your password is yours only and you should make sure you never tell anyone else what it is. Just imagine if you were careless about your computer password at work; a few weeks later a load of pornography is uncovered and the IT people say that they can see it was put there by you. And here’s something else you can’t do (and should have the sense not to); don’t buy a pocket notebook helpfully labelled as ‘password logbook’ - it might seem practical, but in reality it is simply pure madness. THE SLIGHTLY BETTER WAY One slight improvement on password hell is to use one of many password
vault services that manage your passwords for you. But be warned - this is only a sticking plaster; you still have to worry about what happens if the password vault gets hacked. Another small security improvement is two-factor authentication, where you have a password and a device that generates a one-time code. The banks are busy introducing this with their mini card readers and apps for your mobile phone. The trouble is, this might make the banks more secure but it doesn’t help us. We still have the password to remember, plus we’ve now got more hassle to deal with.
day, but the key to success is the ability for a computer to recognise you, or at least some part of you. Fingerprint recognition was regarded as a great way forward, but it’s just not secure enough, apparently (no doubt you’re conjuring up gruesome images from gangster or crime-based films right about now). The next body part that could be used for identification is iris recognition. The technology is there, and the camera resolution in laptops and phones is good enough for it to work securely and effectively. Then there is face recognition, as used in the automatic passport control booths at airports. If they can be quick enough and cheap THE BEST WAY enough, these biometric technologies The altogether better way to manage could be a huge step forward for all of your passwords is to get a individual recognition. Also creeping business-quality management system. on to the security agenda is the sort Single Sign On (SSO) is an up-andof identity chip that your cat or dog coming technology that has the potential probably wears. It’s very Big Brother-ish, to deliver a viable solution to the but if it makes our life a lot easier, it could password nightmare that we have to go just catch on. Think about the impact of through on a daily basis. You log on to an being able to turn on your laptop, and it SSO service, such as OneLogin or Okta, instantly knowing who you are with no and that’s the only password you need. need to log in via password or similar. The SSO service gives you passwordYour phone could be paired to you and free access to all the other services you no-one else, so it won’t work if it gets have subscribed to. It feels much like a stolen. You could walk into the bank and password vault but the technology is a lot their systems would authenticate you smarter, and much more secure. before you get to the counter, saving time and hassle. Would you volunteer to be WHAT DOES THE FUTURE HOLD? chipped? All these things could happen, All we really want is what we see but there is no real way to predict which in sci-fi films - your computer, will take off and be a success. What your bank, and your workplace is certain though, is that the era of just recognise you by voice; “Good passwords has to end soon. morning, Mr Smith” comes the reply (Perhaps in a customisable celebrity Contact: voice?). We might just get there one www.riverbank.co.uk
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ADVICE
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ADVICE
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Become a part of a company that has helped over 171,200 people succeed – while you earn profits for yourself and your children. We worked tirelessly to figure out a way to give business owners who were interested in making a difference in the lives of children and their families a means to do just that, without actually being a tutor themselves. Find out more: W: www.tutordoctoropportunity.com/UK T: 0208 144 5678
ComputerXplorers is the leading provider of quality technology education for children from the ages of 3 to 13.The clubs and classes we deliver are engaging, educational and fun, and are run in a variety of settings, such as after school clubs, pre-school and nurseries, summer camps and in-curriculum time classes. T: 01530 513300 E: edownes@recognition-express.com W: www. computerxplorers.co.uk
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The ZipYard is the UK’s most successful and fastest growing garment alteration franchise in the UK. Established in Ireland since 2005 ZipYard Centres are now springing up on High Streets across the UK. T: 01530 513300 E: edownes@recognition-express.com W: www.thezipyard.com
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20/05/2015 12:30
OPINION
Hot topics
? Q
Would you ever promote a lesserskilled employee over one who was extremely annoying?
THE NUMBERS GAME HERE’S WHAT THE REST OF YOU THOUGHT:
NO
YES
33%
67%
Each month we ask a selection of business leaders for their views on an aspect of business. This month, we’re discussing the issue of favouring certain employees
TOM WALKER, CO-FOUNDER, STURENTS.COM It all depends on whether or not the job they’re being promoted into is affected by how ‘annoying’ they are. For example, if an ‘annoying’ employee with a lack of social skills is being promoted from a job that is based on their own technical performance into a role that is more management focused, their lack of social skills would be a negative factor when considering their promotion. If, however, they’re being promoted into another technically dominated role, their lack of social skills would be less of a consideration. RICHARD MERRIN, MD, SPRECKLEY Any business is out to make a profit. Integral to that is the role staff play. Any MD worth their salt will take the time to constantly assess the human resources they have at their disposal, and focus on growing and developing talent. In that sense, anyone not promoting the best talent - no matter how annoying they are - needs to have their head examined. If you have an issue with someone who is annoying the team, grow some, sit them down and tell them why they’re annoying. JUSTIN TOOHIG, FOUNDER, PAINTBALLING LTD If I find that an employee is extremely annoying, then there’s a good chance that my customers will too. So in this case, they’d have to be leagues ahead of the other candidates in order to compensate for being irritating, which frankly doesn’t happen too often. My company thrives on good customer service, and if you put that in jeopardy by annoying the clientele, I can’t see you having much of a future with me. SANDIP SEKHON, CEO, GOGETFUNDING.COM I wouldn’t promote a lesser employee over a better, but annoying one. At the end of the day, the annoying employee is shown to be better, and that means he will be better for the business, which is always my main concern. As long as I was confident that his annoying nature didn’t hinder the performance of others, I would put up with it to get a better end result.
WHAT DO YOU THINK? TELL US YOUR THOUGHTS ON TWITTER @TALKBUSINESSMAG *Talk Business magazine and its staff are in no way linked to, condone, or agree with, any opinions expressed in this article. Opinions are solely those of the named individuals.
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OPINION
Trash talk Each month, we ask a different business man or woman the everyday phrases that ‘drive them up the wall’ in the business world, and why
Perhaps that explains it. Maybe we’re all just a little bit meerkat inside, desperately extending our necks to see what’s coming over the horizon MY MOST HATED BUSINESS JARGON
Elizabeth Hudson Cream PR & Marketing Communications Job Title: Director The business:
Founded in 2012 and based in Yorkshire, Cream PR build brands and make sure you’ve got a reputation to be proud of. We get the attention of stakeholders, engage with them, and motivate them to act. From the traditional press release and media relations to modern digital PR techniques, our aim is to get people talking about you and your business. Contact: www.creamconsultancy.co.uk
UTILISE: I reckon the ‘tili’ residing in the middle of this word could be the most unnecessary four letters in the whole of the English language. Why can’t we all just use use? Utilising something isn’t any cleverer that using it; it’s a classic example of using a longer word for no benefit whatsoever. And those four pointless characters really matter on Twitter. HEADS UP: You mean you want to tell me about something? Great, I’d love to hear about it. You want to give me the ‘heads up?’ - excuse me whilst I scream inside. The increase in the use of this phrase seems to have coincided with the rise in popularity of the meerkat. Perhaps that explains it. Maybe we’re all just a little bit meerkat inside, desperately extending our necks to see what’s coming over the horizon. GURU/WIZARD/NINJA: Apologies to the Dalai Lama, Harry Potter, and any Japanese assassins, you crack on with using these words. But if the only weapons in your armoury have the Apple logo on them, please let go of your childhood dream to be a superhero. MORE BANG FOR YOUR BUCK: For a start, it’s an Americanism. I admit more clout for your cash doesn’t quite have the same ring to it but considering the vast majority of people using this phrase don’t do business in the US, talking about bucks is a bit ridiculous. And doesn’t ‘better value’ cover ‘more bang for your buck’ much more succinctly? LEVERAGE: No explanation needed. If you’re not a bank or an economist, don’t use it (or utilise it either).
WANT THE CHANCE TO GET YOUR FRUSTRATIONS OUT?
Tell us the insane phrases that wind you up, and you could feature here - simply email editor@talkbusinessmagazine.co.uk with the subject line ‘trash talk’.
138 June 2015
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