It’s safe to say most employers know that things won’t simply go back to normal when their teams return to the office. And while some organisations won’t reopen their offices at all, it’s likely that 89% of UK businesses will opt for a hybrid model where employees work from home some of the time. But these businesses need to consider more than who will return to the office and when.
Three current interior design trends highlight the ways in which employers can help their teams successfully return to the workplace. In this article, we explore how updated approaches embrace the positives of home working and eliminate drawbacks in ways that nurture employee well-being, collaboration and engagement.
1. Introducing the comforts of home
The presence of pets, partners and kids meant that most people had to adjust to remote working. Naturally, they gravitated to the places and spaces where they were most comfortable or worked most efficiently. They mixed things up in ways that felt right. Working from home meant people could find – or create – ideal working conditions throughout the day.
Now, the flexibility and adaptability of home is set to become an important ingredient in a productive workplace.
Giving people options and some measure of control over their environment isn’t just about physical comfort, of course. Varied and adaptable spaces allow for a wider range of activities and reduce the friction between digital and in-person interactions (and meetings where both happen at once).
This trend also sees businesses moving away from minimalist aesthetics. Instead, they’re adopting a cosier, more relaxed look and feel, emphasising tactility and texture.
In fact, we’re currently seeing this play out with our own clients, with businesses opting for wooden desks and soft, woven curtains to increase the warmth and tranquillity of their workspaces.
2. Spaces for interaction and innovation
The ratio of workspace to social space is shifting as employers seek to overcome the feelings of isolation suffered by many remote workers, attempting to create a sense of community amongst their teams.
Increasing opportunities for chance encounters, team-building and collaboration will be a priority in the post-Covid workplace.
And while a generational shift over the last 20 years has meant employees are valued as individuals, not assets, that has been accelerated by the pandemic. Now it’s more important than ever that workspaces invite self-expression and human interaction. It rewards the personal investment they make in their work and increases their commitment to business success.
Creating opportunities for collaboration and knowledge exchange can benefit the bottom line too. Just take a look at how the tech giants furnish their offices. Introducing ping-pong tables, game consoles and snack bars create conditions for socialising. That gets their smart, engaged employees talking, which leads to innovation and growth.
3. Solutions for headspace and privacy
Without a doubt, the return of face-to-face interactions at work will be a welcome change. That said, there will always be a need for private spaces for focused work. A recent study found that 9 out of 10 people listed a ‘quiet, professional environment’ as one of their primary motivations for returning to the office.
Businesses are now incorporating zones for quiet working – including sound-proof pods – into their office spaces. These distraction-free solutions benefit employees deep-diving into a task.
They’re also ideal for confidential meetings. Online conferencing is here to stay, especially with hybrid arrangements, which mean that people will continue to work with colleagues and clients via Zoom and MS Teams.
The closed-door office spaces of the past aren’t returning, but quiet conditions still play an important role in a productive workplace.
Planning your team’s return to the office?
Get in touch to learn how we can help you to create a positive, productive space for your workforce.
Mills & Reeve has recently hosted a webinar series on COVID and the future of work, to explore how it will change the way we work, even after the pandemic has receded. My colleagues and our other contributors have given participants a lot to think about.
Its well worth viewing the recordings (available here) but here’s a taster of some of the key themes that emerged.
Flexibility
At the risk of stating the obvious, we all need to be flexible. Clearly employers and HR departments need to plan ahead, but they also need to be flexible enough to adjust at short notice to the inevitable changes in regulation and guidance as the virus and the steps taken to combat it both continue to evolve.
While most employers probably do not need any encouraging in this direction, it is worth following Government plans to amend the right to request flexible working. We don’t have any firm details at the moment, but one change may involve removing the current six month qualifying period before the right can be exercised.
Engagement with the workforce
The second lesson I took from the webinar series – in many different contexts – is that staff engagement is more important than ever before. Staff have had to adapt to a great deal of change while their resilience has been impacted like never before with factors such as: performing front line roles during a pandemic, the psychological isolation of remote working, or the additional pressures of supporting school age children at home.
As restrictions are relaxed, it is essential to engage with the needs of the workforce before attempting to balance these with any conflicting business objectives. Certainly there is an opportunity to build back better: while the relatively care-free pre-COVID days are bound to evoke feelings of nostalgia, many may not wish to return to exactly the same working environment. That means that staff input into what would work best for them is an essential starting point.
Understanding the limits of remote working
Despite the very rapid advances in technology – and our ability to use it – over the past year, there are still some things that can’t be done as well remotely. When re-imagining the workplace for the post-COVID era it is import to understand what these elements are.
One of our speakers referred to a study by McKinsey which analyses the effectiveness of different tasks when these are done remotely when compared with in person, across a number of different countries. So for example they found that updating knowledge and learning is typically about 80% effective remotely. This dropped to about 30% for establishing workplace relationships, and even lower for training and mentoring. There have also been useful studies of the different biases that emerge when conducting meetings online rather than in person, including this dictionary of behavioural biases from the LSE.
It is clear from these new studies, as well as past experience, that designing an effective hybrid working policy involves much more than working out the optimum percentage of home working for any given role. It is also necessary to consider how the component tasks are managed, to ensure they are done in the most effective manner.
Working from abroad
In our experience, one unforeseen impact of the pandemic is that it has led to an increase in the numbers of staff working remotely from abroad for UK employers, often on an ad-hoc basis.
These arrangements, if not properly regularised, can lead to a number of risks for both employer and employee – for example the obligation to pay tax and social security contributions in the host country and need to obtain a work permit or visa.
Reviewing working arrangements as the lockdown eases creates an opportunity to establish a clear policy on whether working remotely is permissible, and if so in what circumstances. Given that each country has different immigration and tax rules, professional advice will be required in the host country before authorising any such arrangements.
For more information about staff working remotely from Europe, please see here
Equalities considerations
There is a complex relationship between increased flexibility and equality and diversity issues. To take one example, it has been an advantage for many parents to be able to work flexible hours from home rather than fixed hours at their employer’s workplace. Leaving the choice of whether to continue to work from home entirely up to employees risks “baking in” existing gender based inequalities around responsibilities for childcare.
Other risks arise from the differences in the dynamics as between remote and in person communication. Staff working remotely can struggle to make their views heard, and the absence of an on-site presence may translate into reduced access to informal learning and development opportunities, or being overlooked for promotion. If not properly addressed, one of the potential disadvantages of working remotely could be to amplify existing workplace inequalities, for example in relation to race or disability.
To connect with Sara on LinkedIn please visit her profile here. If you would be interested in receiving further updates from Mills & Reeve you can register for these on our sign up page.
Many of us have a love-hate relationship with social media. Many more of us have a favourite platform, and one which we really don’t get on with. But for many businesses, social media is a great way of getting your brand out there. So what do you do if you’re a business owner who really, really, absolutely, categorically hates social media?
Haters gonna hate, but in this day and age of social media being one of the most effective ways to get your business in front of the right audience, there are some things that you can do – indeed, need to do – to get your business out onto social media. Even if you personally couldn’t give two Hootsuites whether your latest post gets 459 or 4 likes.
Here’s a handy hater’s guide to marketing on social media when you hate social media:
1. Play to your strengths
We all know that this is key in anything that we do, and social media is no exception this. Do what you do well within your business, but just do it on social media. So if networking if your thing, go about networking on social media (FYI, LinkedIn is great for this).
If your business thrives on the personal relationships you build with your clients, write your copy and your captions in such a way that that personal touch comes across. And, while you’re at it, make sure you reply to those comments you’re bound to receive from all of the engagement you’ll be creating, too. You’ll soon be building up a rapport with potential future clients on your social media channels.
As with anything, do what you’re good at, and the results will often follow.
2. Concentrate on one thing and do it well
Again, just like other business strategies, social media is often about finding your niche. This could be finding the channel that works for you; Instagram, for example, works really well for brands that are very visual, but may not be the right platform for very dry, technical industries, who may prefer to hang out on LinkedIn.
Similarly, you don’t have to adopt all of the features on all of the platforms. You may find that one grid post a week on Instagram and daily stories is enough; you don’t have to be all singing, all dancing with reels and IGTV if it’s not your thing.
If you spread yourself too thinly, you’ll find that everything is a bit half hearted, and if you’re already erring on the side of hating social media, not getting the results because you’re not doing any one thing well will not be the basis of a long lasting love affair with the socials.
3. You may be pleasantly surprised
Yes we know, it can be super annoying when your mate’s sister’s cousin constantly posts pictures of what she ate for her dinner, and yes we know not everyone is interested in their annoying work colleague’s hundreds of blurry photos from their latest night out, but social media is so much more than that nowadays.
For starters, many people don’t want to be that cliché, and therefore actively work to avoid sharing these sorts of posts. Secondly, if you do really hate social media as much as you say you do, then just use it purely for business purposes. View it as another marketing tool. And do you know what? You may find that talking to your target audience via carefully thought-out posts is actually quite enjoyable. You’ll soon find your (business) tribe. And that can make social media a really rather pleasant place for brands to be.
4. Still hate social media? Get a team of social media lovers (ahem, 24 fingers) to do the dirty work for you
What can we say? Haters really are going to hate. But that’s what we’re here for. There’s nothing we love more than taking a brand and bringing it to life via the medium of social media. As much as you hate social media, we love it, and it really is worth getting in contact and getting us on board to do the dirty beautiful, fun, results-bringing work for you.
After all, when it comes to social media: what’s not to love?
The social media hater’s guide to marketing on social media
24 Fingers
Many of us have a love-hate relationship with social media. Many more of us have a favourite platform, and one which we really don’t get on with. But for many businesses, social media is a great way of getting your brand out there. So what do you do if you’re a business owner who really, really, absolutely, categorically hates social media?
Haters gonna hate, but in this day and age of social media being one of the most effective ways to get your business in front of the right audience, there are some things that you can do – indeed, need to do – to get your business out onto social media. Even if you personally couldn’t give two Hootsuites whether your latest post gets 459 or 4 likes.
Here’s a handy hater’s guide to marketing on social media when you hate social media:
1. Play to your strengths
We all know that this is key in anything that we do, and social media is no exception this. Do what you do well within your business, but just do it on social media. So if networking if your thing, go about networking on social media (FYI, LinkedIn is great for this).
If your business thrives on the personal relationships you build with your clients, write your copy and your captions in such a way that that personal touch comes across. And, while you’re at it, make sure you reply to those comments you’re bound to receive from all of the engagement you’ll be creating, too. You’ll soon be building up a rapport with potential future clients on your social media channels.
As with anything, do what you’re good at, and the results will often follow.
2. Concentrate on one thing and do it well
Again, just like other business strategies, social media is often about finding your niche. This could be finding the channel that works for you; Instagram, for example, works really well for brands that are very visual, but may not be the right platform for very dry, technical industries, who may prefer to hang out on LinkedIn.
Similarly, you don’t have to adopt all of the features on all of the platforms. You may find that one grid post a week on Instagram and daily stories is enough; you don’t have to be all singing, all dancing with reels and IGTV if it’s not your thing.
If you spread yourself too thinly, you’ll find that everything is a bit half hearted, and if you’re already erring on the side of hating social media, not getting the results because you’re not doing any one thing well will not be the basis of a long lasting love affair with the socials.
3. You may be pleasantly surprised
Yes we know, it can be super annoying when your mate’s sister’s cousin constantly posts pictures of what she ate for her dinner, and yes we know not everyone is interested in their annoying work colleague’s hundreds of blurry photos from their latest night out, but social media is so much more than that nowadays.
For starters, many people don’t want to be that cliché, and therefore actively work to avoid sharing these sorts of posts. Secondly, if you do really hate social media as much as you say you do, then just use it purely for business purposes. View it as another marketing tool. And do you know what? You may find that talking to your target audience via carefully thought-out posts is actually quite enjoyable. You’ll soon find your (business) tribe. And that can make social media a really rather pleasant place for brands to be.
4. Still hate social media? Get a team of social media lovers (ahem, 24 fingers) to do the dirty work for you
What can we say? Haters really are going to hate. But that’s what we’re here for. There’s nothing we love more than taking a brand and bringing it to life via the medium of social media. As much as you hate social media, we love it, and it really is worth getting in contact and getting us on board to do the dirty beautiful, fun, results-bringing work for you.
After all, when it comes to social media: what’s not to love?
LinkedIn has long been the business social media platform of choice. And with business networking and growth at the forefront of the platform’s mind, they’ve got something a little exciting up their shirt sleeve: The business platform has launched their very own digital magazine to give you their LinkedIn best tips. As many businesses begin the process of opening up again post-lockdown, these new insights from LinkedIn will be welcome reading as we all start to move our brands forward again.
What can you expect from the new LinkedIn magazine?
If you want some hints and tips for how to use LinkedIn to your brand’s advantage, the new Ready for Business 2021 magazine is where it’s at. In LinkedIn’s own words:
“Ready for Business 2021 explores everything that’s involved in using digital marketing to drive growth and get your strategy moving. There’s detailed insight on identifying your highest-value audiences and engaging them when they’re at their most receptive. We dig deep into the growing importance of trust and thought leadership content in a post-pandemic world, highlight the changing nature of B2B buyer journeys, and share stories and strategies for how your marketing can inspire, entertain – and engage the ready for business mindset at scale.”
The magazine can either be downloaded or read online, and with an initial flick through of our 24 fingers, it’s packed full of hints and tips for how to do business on LinkedIn. With everything from how we should change our marketing strategies for a post-pandemic world, through to how to create great video ads, there’s something for everyone, and each and every brand can adopt some of the tips from the magazine. The tips include, but are certainly not limited to:
How to gain your follower’s trust by building your brand’s character. This could include being willing to take a stand on things that are important to them and enlisting employees as advocates.
How to develop B2B content that hits the mark, i.e. through carving your niche and becoming a go-to source.
Weighing up the risks and opportunities in rebranding.
Plus much more besides, and plenty of different topics covered so that everyone from newbies to social media through to those brands who are slightly more experienced LinkedIn marketeers can learn something new.https://giphy.com/embed/smA6gFq3A5HjTF9HHd
Why your business needs a presence on LinkedIn now more than ever
With much of the world going digital during this past year, your business needs a presence online. And even if you hate social media, or if Instagram and TikTok aren’t for you, LinkedIn could be the place where you find your tribe.
And the new business growth magazine that the platform is putting out there is proof of this: LinkedIn is very much a business-first platform. It’s where you can network online with peers, colleagues and clients effortlessly, so long as you’re putting the right content out there. The platform’s commitment to putting out a business growth magazine is further proof that it’s serious about helping to move business forward and help them to gain traction on their platform, and you can use the tips in the magazine to do exactly that.https://giphy.com/embed/jbKbdoKJOFusHTjl80
Still not sure how to gain a presence on LinkedIn? We’ve got you
If you’ve read LinkedIn’s Ready for Business 2021 magazine and you’re still all fingers and thumbs about what you should and shouldn’t be doing on the platform, do you want to know the other place where your business should be? That’s right, here at 24 fingers HQ. We can turn our hands to giving you a presence on LinkedIn – or on any of the other social media platforms, for that matter – so that you can enjoy some of that business growth we’ve been talking about. Get in contact if you’d like to know how our hands can help to grow your business in the world of social media.
If social media was a soap, we think it would be Dallas: impossibly wealthy warring clans constantly trying to get the upper hand on each other (though maybe without all the big hair and shoulderpads). That’s certainly the case with Facebook, which has unveiled some of its new tools for the future, after Apple’s latest move on data privacy.
In case you haven’t been watching, (we’ve all been a bit distracted by Gareth Southgate’s lads – come ON England) Apple is working on a little something called App Tracking Transparency, which makes all app data tracking an opt-in choice for consumers.
Facebook doesn’t like it, but rather than cat-fighting in a fountain or stepping out of the shower and saying it’s all a dream, it’s decided to go with the flow and get creative.
Dan Levy, VP Ads & Business Products said in a blog post that Facebook is trialling an option in News Feeds that allows users to tap to browse content from businesses on topics such as beauty, fitness, or clothing, as well as “explore content from related businesses”.
The platform is also looking to improve where adverts are placed, based on the content users are watching – so if you’re hooked on a travel video, you’ll see ads for hotels.
More importantly for small businesses, Facebook is working on a new badge specifically for us micro heroes that will be visible under the main ad field. It aims to capitalise on consumer demand to support smaller, local brands. Amen to that, we say.
Levy said there are also changes afoot for Facebook Marketplace, as shop and product listings are set to be expanded using the topic/business discovery feeds, and that Shops listings will be extended to Marketplace.
Alongside all that, Facebook Pay tools will be enhanced to make the buying process as seamless as possible.
It might not be as dastardly as JR, but you can’t take your eyes off Facebook for long, as it can sometimes make big changes walloping brands that have come to depend on a particular level of referral traffic or business from its tools.
And when it happens, we’ll be the first to let you know.
We’re 24 fingers, a digital marketing agency and a proud member of the 42 Club, Brentwood Chamber of Commerce, Excel Business Networking Group, the Trusted Business Community, the Organisation for Responsible Businesses and the Rotary Club of Brentwood à Becket. We help companies who are all fingers and thumbs with their social media grow their business and brand. Book your free strategy call here.
Facebook, ever on the lookout for ways to help entrepreneurs of all sizes get a leg up, has come up with a nifty solution for anyone whose marketing tank of inspiration has run dry: the Campaign Ideas Generator.
It might sound a bit Star Trek, but trust us, you will definitely want to boldly go down this black hole.
The boffins at the social media platform said the Generator “provides campaign ideas, pre-made assets and resources that are specific to your small business needs”.
In the Queen’s English, that means access to a host of templates, depending on the business you’re in. All you have to do is click on the corresponding sector – though not everyone is represented – and click on the ‘get campaign ideas’ button.
That brings up three tabs: Campaign Ideas, serving up a slew of ad format ideas, including images and layouts, Data and Insights, which showcases the filters you can use to target your campaign, while Resources offers extra goodies such as case studies.
There’s also what Facebook calls an Organic Post Pack, that includes a variety of post templates for your Facebook page, just in case you’re still in need of a bit more inspo.
Some business owners might look at this feature as a bit Borg – everyone’s assimilated and using the same stuff – but we think it’s actually very nifty, especially when it comes to making sure your brand is coordinated and consistent.
It also gives busy entrepreneurs a bit of breathing space, allowing them to put together an ad campaign that looks good and will reap rewards, without taking up too much of their valuable time and resources. We’re with Jean-Luc Picard and say: make it so.
If you’re feeling a bit “she can’t take any more cap’n!” when it comes to your social media marketing, give us a call and we’ll get you moving at warp speed.
We’re 24 fingers, a digital marketing agency and a proud member of the 42 Club, Brentwood Chamber of Commerce, Excel Business Networking Group, the Trusted Business Community, the Organisation for Responsible Businesses and the Rotary Club of Brentwood à Becket. We help companies who are all fingers and thumbs with their social media grow their business and brand. Book your free strategy call here.
From a certain point of view, social media looks easy peasy: chuck out the odd quote from someone famous here for Facebook, throw together a quick Instagram video on your smartphone and boooom – Robert’s your father’s brother.
Well yes, and then again no… We at 24 fingers towers know there’s a lot more going on than what people scroll through on their feeds. Business posts are a small part of a much bigger overall strategy, crafted pieces of content that serve an important purpose, and analysing whether they’re working is a mammoth task in itself. That’s why we’re going to look at social media audits, why you should have them regularly and what they can do for you.
We heard the sharp intake of breath at the word ‘audit’ but don’t worry, this will be your kind of scrutiny, because its sole aim is to improve your business and boost your bottom line. So, let’s start at the beginning and ask a few important questions.
What is a social media audit?https://giphy.com/embed/26gR0YFZxWbnUPtMA
Put simply, it’s a review of the metrics generated by your business’ social media posts that examines growth, highlights potential opportunities and what you can do to enhance your social media presence.
It helps you identify the bits of your social media campaigns that are working and those that aren’t doing quite so well, as well as spotlighting who you’re reaching, when and where, giving you a deeper understanding of engagement levels and how many sales you’re generating from your content.
Does a social media audit really matter?https://giphy.com/embed/B5RycQcvQSDVcS9fuC
If your business is going great guns, then you might think “probably not” and move swiftly on but we say “woah there Nelly”. Knowing what your top-performing posts are means you’ll get a better insight into what your audience actually likes and prompts them to turn a click into a purchase.
Do they prefer written content or are they gobbling up videos? Are they scrolling during the day (sneakily, and at work like the rest of humankind) or do they hop on in the evening when the shoes are kicked off and the cork’s out of the wine?
Tweaking your strategy, even just a little, after a social media audit could see a huge difference in sales and revenues, and that can only be a good thing. Likewise, if your brand isn’t performing as well as you’d like, you can pinpoint exactly what isn’t working, stop wasting your energy and try something new.
How will a social media audit help?https://giphy.com/embed/TTgdzuFXGvEKCNO6JRC
Good question. First of all, as we’ve just said, it will help you understand your audiences better but it will also inform you where and when to find them. As anyone who has ever been up in the wee small hours, furiously putting together a business marketing plan knows, anything that helps pinpoint your ideal customer is worth its weight in gold.
Second, social media audits will flag up any brand inconsistency, which can be a relatively easy fix but will reap huge rewards if everyone on every platform where you have a presence can recognise you quickly and easily.
That leads us neatly to the third advantage: your brand will be known as credible, reliable and organised (even if you don’t always feel the same). The value from that is, to coin a phrase, priceless.
Finally, a social media audit can help you set defined yet achievable business goals, whether it’s to grow your audience on a particular platform (having discovered that’s where a lot of your customers are lurking), increase sales figures or boost growth by a particular percentage.
When should you have a social media audit?https://giphy.com/embed/l0HlHms47geescn28
It depends. Some companies have them quarterly, while others prefer monthly. What you really ought to be asking is who should carry out your social media audit, because that’s potentially a lot of data to wade through and understand. Luckily, that’s where we come in.
We can crunch the numbers any time you want, whether it’s once a week or once a year, and generate insights into your business that will help shape your next move. We will analyse trends, identify opportunities, tell you where things are going well and offer advice on what to do for campaigns that haven’t quite hit the mark.
Want to get started? Our 24 fingers are flexed and ready to go… Get the ball rolling here.
We’re 24 fingers, a digital marketing agency and a proud member of the 42 Club, Brentwood Chamber of Commerce, Excel Business Networking Group, the Trusted Business Community, the Organisation for Responsible Businesses and the Rotary Club of Brentwood à Becket. We help companies who are all fingers and thumbs with their social media grow their business and brand. Book your free strategy call here
If you have ever said “I’d love to start a business, but I can’t because I’m working full-time” ask yourself, are you using your job as an excuse not to go for it?
As a Business Mentor, who has a specialism in helping people transition from employee to entrepreneur, I can tell you:
You’re not alone in wanting to make the transition
You can start the business you want while you are working full-time
Start a Business When Working Full-Time? The Statistics Speak for Themselves
Most employees in the UK have thought about starting a business at some point or another (me included!). A recent survey claims that 64% of the UK workforce is itching to strike out on their own.
If you add to that research by the Henley Business School , it shows that 25% of all adults in the UK are side hustlers.
Side Hustling is the New Normal
The idea of self-employment is scary.
OK, so you’re following your passion, but what happens if things don’t work out?
Happily, there’s no need to say goodbye to full-time employment just yet!
Striking out on your own doesn’t have to mean turning your back on the (relative) security of a full-time job. There are ways to test out that brilliant business idea and grow your entrepreneurial skills, all whilst keeping up with the 9-5.
It’s called a side hustle. It’s starting a business while you’re working full-time.
And here’s how you can do it….
Manage Your Expectations
If you start a business when you’re working full-time don’t expect it to be a breeze.
First, if you think you haven’t got a lot of free time as an employee, think about how much less time you will have an an employee and an entrepreneur. By accepting the fact that it WILL be challenging and time-consuming from the start, you’ll be better prepared for the highs and lows to come.
Second, if you’re counting on your side hustle bringing in shed loads of money from day one – enough to allow you to wave goodbye to your full-time job within weeks or months – please be aware that it probably won’t.
Use the Time to Plan, Make Mistakes then Plan Again
Starting a business you’re working full-time takes careful and detailed planning.
Planning your time will be paramount. You will have far less time than a full-time entrepreneur to do all the things that will need to happen to turn your idea into a business – and then deliver those products or services to your customers.
You will also need to plan your spending. Starting a business can be done without masses of expenditure, but it can’t be done for free. So you will need to plan carefully how much money are you going to spend on start-up costs, like website design and marketing?
What about planning for the type of customers you want to buy your products or services? Who are your customers going to be, and why will they buy from you? How are you going to deliver your products or services to them?
You don’t have to write a lengthy or complicated business plan, but you do need to answer important questions like these. They will help you gain a full understanding about how your business will work, and how you could eventually transition from employee to entrepreneur.
Once you’ve written a detailed plan, you’ll then need to schedule key tasks, and track your progress regularly.
Want some help with simple plan for your business?
The One Page Business Plan: From Surviving to Thriving in 12 Easy Steps
Not every business owner needs a business plan. But every business owner does need a plan for their business. This is the only one you will ever need.
What’s involved in a big, shiny, ambitious business launch?
Lots of:
Time
Effort
Money
People
If you’re starting a business while you are working full time, you are doing two things: creating something that will enable you to move into running your own business full time AND taking the time to test your ideas without as much risk. So, it’s absolutely fine to start with something very simple and work your way up to something bigger, better and bolder over time.
It’s fine to dream, but when you’re launching a business while working a day job, you probably shouldn’t go too big.
At least, not for now…..
Do What You Do Best and Outsource the Rest
You don’t have to do everything yourself.
In fact, for the sake of time, sanity’s and a successful business I absolutely recommend that you don’t.
There is no rule that says that as a one-person, solopreneur, side hustle business that you have to be expert in everything about business. It’s also a really bad idea to try to be that idea of the ‘perfect’ business owner who knows, understands and can do everything themselves.
That person does not exist and if anyone tells you they do – and that you can do it all on your own – well, to be blunt, they’re a liar.
The best way to get your business quickly off the ground is to invest in other people’s time and professional expertise, whether you hire a social media expert to work on your posts or use an accountant to plan your finances.
Not only will this allow you to focus properly on your business (rather than in it), but using experts means tasks will be completed to a high standard… definitely higher than you (as an enthusiastic amateur) would have achieved yourself!
So, When Is the Right Time to Leave Your Full-Time Job?
If things start going to plan with your new business, it’ll be easy to let your current career slide.
You may have a healthy customer list, you could have found an investor, maybe you’ve got the equipment and you have developed a fantastic set of new skills that will make your venture a success… you’re doing so well that you’re convinced you’ll be the next Forbes success story!
I’m not saying you’re wrong.
But before you take that last step off the side of the cliff and tell the boss goodbye forever:
Take some self-reflection time so you can be sure that, as far as possible, self-employment is the right long-term move for you
Triple-check that you can afford to leave work
Do your best to hold out for any redundancy or ‘goodbye’ money that might be up for grabs
Ready to Take the Plunge and Start Your Business When You are Working Full-Time?
I can help you start your brand-new business, providing an experienced brain to pick and an ear to listen along the way! If you fancy a chat about how I can help you, the way I have helped hundreds of others just like you, book yourself a complimentary Breakthrough Session.
Or, why not download my Prepare to Be Your Own Boss toolkit?
Prepare to Be Your Own Boss: How to Start a Business the RIGHT Way
Starting your own business is ridiculously simple – but starting is only the beginning. Starting is easy. Making it work? Now that’s a whole different story.
The gift of time, flexibility, and balance are some of the benefits people have enjoyed during the last year.
In contrast, childcare, communication, and IT were the biggest challenges as we adapted to a world of work that looked very different.
The Engaging People Company wanted to find out what it was like for people working during a pandemic – what was good, and less good, and what could be taken forward into a post-Covid world.
As well as hearing about benefits and challenges, there were some great examples of employee engagement shared too. Around communications, appreciation, social engagement, and wellbeing. For example, one employer offered unexpected incentives like free takeaways.
Looking ahead, people want continued flexibility, from their organisation, along with technical tools and engagement and communications. From managers, things such as mental health support, communications and trust are important.
Some people decided to change their career aspirations as a result of the pandemic – for reasons such as pursuing a new purpose or spending more time with family.
Director Michelle Gant said: “The survey offered some great ideas but it’s a toe dip in the water.
“What matters is that employers ask their people: find out what matters to them, what they need, then listen, and respond accordingly. And keep asking. Because people’s views change – especially as society starts opening up more. Keep listening. Keep responding. Employee engagement, it’s not a one-off thing. It’s an ongoing journey.
It’s all too easy for SMEs to forget about the importance of a solid procurement process, but improving supplier performance and easing admin-heavy tasks can go a long way towards cutting costs.
SMEs have seen substantial hikes in labour, utilities, rent and fuel costs over the last 12 months, putting pressure on their cash flow and distracting senior decision-makers from focusing on growth strategies, including developing new products or marketing.
Cutting these costs will clearly improve the health of their cash balances and boost margins. One area, which can be overlooked in an SME, is making efficiencies in procurement – controlling spend and improving supplier performance and management in a range of purchases from raw materials to energy use and even stationery.
Protect profits
“Now is a testing time for business as global supply chains are buffered by more protectionism and tariffs,” says Malcolm Harrison, chief executive of the Chartered Institute of Procurement & Supply. “Small- and medium-sized businesses may be more vulnerable than some to the winds of change so will need to protect their enterprises and get the most out of their spend whilst protecting their precious bottom line.”
There are a number of procurement processes SMEs can take to make these necessary savings both in direct spend – such as a construction firm buying steel for a project – or indirect spend which refers to items such as IT equipment, office furniture, facilities management and marketing.
Harrison suggests the first step is to perform a supply chain audit to limit a firm’s exposure to currency fluctuations or other unexpected events, which could impact on the smooth delivery of goods and services. “If you have a complete picture of your suppliers then you can identify any critical supply situations, such as sole suppliers for certain products, and take action,” he says.
“Using multiple sourcing strategies is important. Having more than one supplier for crucial products can protect you from disruption and make you react quicker to surprise increases in demand. Though SMEs may feel they can ill afford to do such research, they can ill afford a supply interruption that could bring down their whole operation.”
Transparency
He encourages SMEs to also have greater transparency around spend. “If everyone in a small team has the opportunity to buy, how will you know how much the business has spent? You need to have an appropriate recording and sign-off procedure so a senior manager signs for all critical purchases and you can report on spend on a regular basis,” he says.
“Getting the best deal from suppliers is also difficult if your purchase is relatively small. Common items such as stationery and IT equipment could be a lot cheaper if you buy as a consortium of SMEs. Partnering up with local businesses (while protecting any confidential data in your own business) could give competitive edge.”
“Small- and medium-sized businesses may be more vulnerable than some to the winds of change so will need to protect their enterprises and get the most out of their spend whilst protecting their precious bottom line”
Malcolm Harrison, chief executive, Chartered Institute of Procurement & Supply
SMEs can also look for third-party partners. Ian Bolger, vice president of procurement consultancy Efficio, says it is increasingly working with smaller firms. “Companies are worried about exporting and rising importing costs. They are seeing their cost bases increase and realise that procurement can be a way of mitigating that,” he says.
“We go in and carry out a two- to three-week audit. We then help SMEs with the market research of alternative suppliers, including from new, low-cost territories, and improving the understanding and visibility over their spend. We can negotiate new and better terms with existing suppliers by benchmarking the market rates.”
Outsourcing
Procuright is also seeing more demand from SMEs outsourcing the procurement function. “SMEs often suffer from a lack of time or experience when securing the best deals from suppliers,” says managing director Gemma Howard-Sandy. “Suppliers are notorious for not always comparing apples with apples when it comes to presenting their products and services, which inevitably causes problems when trying to compare costs and terms.
“We find the main areas of category spend within indirect procurement that have become increasingly popular for outsourcing include, energy, carbon and energy management and reduction, insurance, IT and telecoms solutions, office and business supplies, logistics and deliveries, waste disposal and water services.”
She claims it provides many benefits for SMEs. “Having stronger procurement processes can reduce and control costs such as maverick spending, free up internal resources and increase efficiency for time-consuming functions,” she states.
E-procurement
The use of software – including so-called e-procurement – is another option. It can ensure buyers purchase from approved suppliers, set permissions to ensure spend compliance, compare suppliers in e-auctions and can provide more real-time visibility and data on supplier performance.
Wax Digital runs software called web3, which it says automates the procurement process. “We digitise existing processes that are manual and paper-based,” explains Daniel Ball, director. “We believe it brings consistency, efficiency and control.”
Ball believes procurement should become a necessary department and function in an SME when it reaches a £50m turnover or has 100 supplier contracts.
Ian Bolger, however, says it is not that clear-cut. “Even in a business of 1,000 people you might have one or two focused on procurement. But they will be reactive rather than proactively looking at spend,” he says.
“I recently told one boss of a £100m turnover firm, who had two procurement staff managing £80m worth of spend, that a 5% cost reduction in purchasing costs would boost his profits by four times. He was sales and forward-strategy focused and hadn’t realised how important procurement could be.”
Direct purchasing
It is certainly of importance at Creative Nature Superfoods, which sources ingredients from overseas, including New Zealand. “We don’t work with consultants as we want to cut costs as much as possible. We buy direct from farmers and growers around the world and also buy through ingredients wholesalers based in the UK and Europe,” says Matthew Ford, operations manager.
“When starting out, it’s best to use a wholesaler as they buy in large quantities from source, so can offer much better pricing than you would get if going direct. The benefits as you grow of buying direct from the farmers and growers are improved relationships, better knowledge of how the product is grown and how the farmers are treated, and more control over supply chain.”
A focus on indirect spend can also make a huge difference. Michelle Wright, chief executive of Cause4, recently undertook a cost management exercise. “It took over a year to complete, reviewing everything from stationery and utilities,” she explains. “I thought we were incredibly cost-conscious, but we obviously hadn’t been as we reduced costs against turnover by 7%. Our stationery bill fell by £1,000 a year.”
The review included getting three rather than one quote for utility contracts, diarising when service contracts were coming to an end to avoid higher tariffs and getting recommendations from other SMEs for buying cheaper stationery products.
“When you say cost review at an SME people get frightened as they think it means job losses. But it can mean the opposite, reducing costs and freeing up cash for investment,” she says.
Five benefits to strong procurement processes
Reduced costs
Better spend visibility
Deeper analysis of suppliers and ability to source new, more innovative partners
Improved payment terms
Reduced supplier risk
We have a thriving and diverse community of thousands of entrepreneurs from multiple sectors, backgrounds and skill sets helping you to connect with the right people at the right time. No matter whether you’re looking to upskill, get feedback, engage with new people or simply observe, there’s something for everyone.
‘Want to learn more? Register for NatWest Business Builder to view all of their business development tools. Click HERE‘
It’s all too easy for SMEs to forget about the importance of a solid procurement process, but improving supplier performance and easing admin-heavy tasks can go a long way towards cutting costs.
SMEs have seen substantial hikes in labour, utilities, rent and fuel costs over the last 12 months, putting pressure on their cash flow and distracting senior decision-makers from focusing on growth strategies, including developing new products or marketing.
Cutting these costs will clearly improve the health of their cash balances and boost margins. One area, which can be overlooked in an SME, is making efficiencies in procurement – controlling spend and improving supplier performance and management in a range of purchases from raw materials to energy use and even stationery.
Protect profits
“Now is a testing time for business as global supply chains are buffered by more protectionism and tariffs,” says Malcolm Harrison, chief executive of the Chartered Institute of Procurement & Supply. “Small- and medium-sized businesses may be more vulnerable than some to the winds of change so will need to protect their enterprises and get the most out of their spend whilst protecting their precious bottom line.”
There are a number of procurement processes SMEs can take to make these necessary savings both in direct spend – such as a construction firm buying steel for a project – or indirect spend which refers to items such as IT equipment, office furniture, facilities management and marketing.
Harrison suggests the first step is to perform a supply chain audit to limit a firm’s exposure to currency fluctuations or other unexpected events, which could impact on the smooth delivery of goods and services. “If you have a complete picture of your suppliers then you can identify any critical supply situations, such as sole suppliers for certain products, and take action,” he says.
“Using multiple sourcing strategies is important. Having more than one supplier for crucial products can protect you from disruption and make you react quicker to surprise increases in demand. Though SMEs may feel they can ill afford to do such research, they can ill afford a supply interruption that could bring down their whole operation.”
Transparency
He encourages SMEs to also have greater transparency around spend. “If everyone in a small team has the opportunity to buy, how will you know how much the business has spent? You need to have an appropriate recording and sign-off procedure so a senior manager signs for all critical purchases and you can report on spend on a regular basis,” he says.
“Getting the best deal from suppliers is also difficult if your purchase is relatively small. Common items such as stationery and IT equipment could be a lot cheaper if you buy as a consortium of SMEs. Partnering up with local businesses (while protecting any confidential data in your own business) could give competitive edge.”
“Small- and medium-sized businesses may be more vulnerable than some to the winds of change so will need to protect their enterprises and get the most out of their spend whilst protecting their precious bottom line”
Malcolm Harrison, chief executive, Chartered Institute of Procurement & Supply
SMEs can also look for third-party partners. Ian Bolger, vice president of procurement consultancy Efficio, says it is increasingly working with smaller firms. “Companies are worried about exporting and rising importing costs. They are seeing their cost bases increase and realise that procurement can be a way of mitigating that,” he says.
“We go in and carry out a two- to three-week audit. We then help SMEs with the market research of alternative suppliers, including from new, low-cost territories, and improving the understanding and visibility over their spend. We can negotiate new and better terms with existing suppliers by benchmarking the market rates.”
Outsourcing
Procuright is also seeing more demand from SMEs outsourcing the procurement function. “SMEs often suffer from a lack of time or experience when securing the best deals from suppliers,” says managing director Gemma Howard-Sandy. “Suppliers are notorious for not always comparing apples with apples when it comes to presenting their products and services, which inevitably causes problems when trying to compare costs and terms.
“We find the main areas of category spend within indirect procurement that have become increasingly popular for outsourcing include, energy, carbon and energy management and reduction, insurance, IT and telecoms solutions, office and business supplies, logistics and deliveries, waste disposal and water services.”
She claims it provides many benefits for SMEs. “Having stronger procurement processes can reduce and control costs such as maverick spending, free up internal resources and increase efficiency for time-consuming functions,” she states.
E-procurement
The use of software – including so-called e-procurement – is another option. It can ensure buyers purchase from approved suppliers, set permissions to ensure spend compliance, compare suppliers in e-auctions and can provide more real-time visibility and data on supplier performance.
Wax Digital runs software called web3, which it says automates the procurement process. “We digitise existing processes that are manual and paper-based,” explains Daniel Ball, director. “We believe it brings consistency, efficiency and control.”
Ball believes procurement should become a necessary department and function in an SME when it reaches a £50m turnover or has 100 supplier contracts.
Ian Bolger, however, says it is not that clear-cut. “Even in a business of 1,000 people you might have one or two focused on procurement. But they will be reactive rather than proactively looking at spend,” he says.
“I recently told one boss of a £100m turnover firm, who had two procurement staff managing £80m worth of spend, that a 5% cost reduction in purchasing costs would boost his profits by four times. He was sales and forward-strategy focused and hadn’t realised how important procurement could be.”
Direct purchasing
It is certainly of importance at Creative Nature Superfoods, which sources ingredients from overseas, including New Zealand. “We don’t work with consultants as we want to cut costs as much as possible. We buy direct from farmers and growers around the world and also buy through ingredients wholesalers based in the UK and Europe,” says Matthew Ford, operations manager.
“When starting out, it’s best to use a wholesaler as they buy in large quantities from source, so can offer much better pricing than you would get if going direct. The benefits as you grow of buying direct from the farmers and growers are improved relationships, better knowledge of how the product is grown and how the farmers are treated, and more control over supply chain.”
A focus on indirect spend can also make a huge difference. Michelle Wright, chief executive of Cause4, recently undertook a cost management exercise. “It took over a year to complete, reviewing everything from stationery and utilities,” she explains. “I thought we were incredibly cost-conscious, but we obviously hadn’t been as we reduced costs against turnover by 7%. Our stationery bill fell by £1,000 a year.”
The review included getting three rather than one quote for utility contracts, diarising when service contracts were coming to an end to avoid higher tariffs and getting recommendations from other SMEs for buying cheaper stationery products.
“When you say cost review at an SME people get frightened as they think it means job losses. But it can mean the opposite, reducing costs and freeing up cash for investment,” she says.
Five benefits to strong procurement processes
Reduced costs
Better spend visibility
Deeper analysis of suppliers and ability to source new, more innovative partners
We have a thriving and diverse community of thousands of entrepreneurs from multiple sectors, backgrounds and skill sets helping you to connect with the right people at the right time. No matter whether you’re looking to upskill, get feedback, engage with new people or simply observe, there’s something for everyone.
‘Want to learn more? Register for NatWest Business Builder to view all of their business development tools. Click HERE‘
