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Your EnterQuest Bulletin - Issue 254
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| Thought for the week: "You have your way, I have mine. As for the right way, the correct way, the only way, it does not exist." Friedrich Nietzsche |
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In this week's issue:
How to ask for a referral
If you don't have a systematic referral programme you are missing out on one of the simplest, lowest-cost ways to generate your highest quality customers. Referrals are the lifeblood of small businesses. But do you actually know how to ask for one?
Think for a moment. Has someone ever asked you for a referral? Did it go something like this: 'Do you know someone who could benefit from my services? You start to think about it and eventually say: 'Well, not off the top of my head but I'll keep thinking about it.'
This is how 90% of all referral questions are asked and unfortunately, the question might as well not be asked. Rarely, if ever, will it get a positive response. Why? Because it was not asked correctly. 'Know anyone who ...' questions are too broad for people to think about.
People need a frame of reference to help them narrow down the playing field of potential referral candidates. For instance, imagine you are talking to one of your good clients who is pleased with your services.
You ask her: 'Mary, you're a member of the Women's Financial Planning Association here in Leeds aren't you?' Mary responds: 'Yes I am.' You ask: 'Do you go to their meetings on a regular basis?' 'Yes most of the time' Mary replies. 'Is there anyone in your association that you believe could benefit from my services?' Maybe one or two people you've known in the group for a while or sit next to regularly?'
Did you see the difference? You gave Mary a narrow frame of reference from which to think about it. It allowed her to visualise the potential referrals in her mind. This may limit the number of potential people that your client might know, but it is far more effective that opening up the ocean of people that Mary might know, but can't remember.
Your request will also stay in Mary's mind long after you've asked it because she can visualise your services with much greater intensity.
ICT and mobile technology benefits for small businesses
Business owners opt for mobile information and communications technology for all sorts of reasons but the primary reason for doing so is to increase flexibility in where and how they work. Mobile phones, laptops and personal digital assistants (PDAs) can help you to stay in touch with staff and clients, especially when travelling to meetings, conferences, events and seminars.
Here is a quick summary of the types of technology and products available and why they could be useful:
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PDAs - PDAs are versatile, hand-held computers that synchronise data with a computer. They use touch-screen technology and are normally synchronised to give the owner access to information such as e-mail accounts, diaries, calendars, phone and address books and voicemail. This functionality - the ability to organise data and share it with a computer - has led them to be known as hand-held or pocket PCs or smart phones. There are many computing magazines offering reviews on the latest PDAs. See www.pcpro.co.uk/labs/160/smartphones/products.html as an example.
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Voice over Internet Protocol (VoIP) - VoIP telephone systems allow business owners to communicate cheaply with clients and staff. It is particularly useful for communicating with staff or clients who are based abroad. Put simply, VoIP technology transmits voice calls over a data network, which means that people can talk over the Internet. Skype (www.skype.com) is an example of a VoIP package provider that not only enables phone calls but also facilitates SMS text messaging, from computer to mobile phone.
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Virtual Private Network (VPN) - VPNs use the Internet to connect remote sites or users. They are useful for providing small business owners and staff with access to the office network while working from home or a location other than the office. VPN software needs to be installed on each laptop or PC that needs to access the office network. VPNs are particularly useful in helping to facilitate flexible working solutions for staff so they can work from home, but are also useful when either you or your staff cannot get to the office because of unforeseen circumstances.
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3G cards - 3G cards are plug-in devices enabling laptops and PCs to access the Internet using mobile phone networks. The speed and availability of 3G access is largely dependent on mobile phone network coverage, so this type of technology may be more suited to densely populated areas, such as towns and cities, than to rural areas where coverage may be limited.
If you're thinking about using any technology that allows you access to your business ICT network, you should carefully consider the security risks that may arise. Ask about the pros and cons of mobile technology and the potential dangers it could pose to your business if it is not implemented and used correctly.
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To receive a free copy of BETTER business magazine simply send us your name and address to enterquest@cobwebinfo.com, putting 'EQ magazine offer' in the subject box. |
Each week we provide you with summaries of some popular or emerging business ideas in the UK and elsewhere around the world.
- Odd jobs websites for students. Student Gems is an example of a website which lists odd jobs that students can do to earn a bit of extra cash. Businesses or organisations wanting help or assistance with a job can search a database of students to find the right individual to help them.
Regularly improving your vocabulary is not just about learning a new word and its meaning. It will improve your general knowledge and make you feel and act smarter in all sorts of personal and business situations.
Do you know the meaning of the word 'assuage'?
a) to pacify or calm
b) to claim for money in court
c) to pollute the environment
d) to cause unease
Answer at the end of the Bulletin.
The following topical business issues have been recently reported in the media. Did your radar pick them up?
1) Recent survey results have been released by the Federation of Small Businesses (FSB), ahead of the Budget. How many business owners surveyed said their confidence in the Government had dropped since the last Budget?
a) 25%
b) 49%
c) 77%
d) 93%
2) Alistair Darling announced in yesterday's Budget that £12.5 million of Government funds would be set aside to help and encourage which specific group of entrepreneurs?
a) young entrepreneurs
b) women entrepreneurs
c) black and minority ethnic (BME) entrepreneurs
d) social and community-based entrepreneurs
3) The Department for Business, Enterprise and Regulatory Reform (BERR) has announced that the National Minimum Wage (NMW) for adults is to increase again in October from £5.52 to £5.73. Announcing the increase, John Hutton said that before the introduction of the NMW in 1999, workers could expect to be paid as little as which hourly rate?
a) 35p
b) 50p
c) £1.00
d) £1.50
Answers at the end of the Bulletin.
Budget 2008 round-up
Alistair Darling's first Budget has delivered some good news for entrepreneurs and small business owners. Key provisions include measures to cut red tape in the tax system; a £12.5 million fund to help women entrepreneurs; a freeze on fuel duty until October; and a boost in the Small Firms Loan Guarantee Scheme. The team at EnterQuest have published a summary of the key points and HM Treasury has a micro-site detailing the Budget in full.
Free trial of Microsoft Publisher 2007
The latest version of Microsoft Publisher enables you to create newsletters, brochures, websites and more. It's available to try out for free from the Microsoft website. Once you've downloaded the trial, it can be accessed free of charge up to 25 times. Publisher 2007 contains a new task pane, called Publisher Tasks, which contains links to frequently used features and includes tips on creating publications.
Financial calculators and tools
The Invidion website has a range of financial calculators and tools to help you stay on top of your business budget. There's a Capital Gains Tax (CGT) calculator, a critical illness insurance cover calculator and an investment and savings calculator.
Marginal rate relief calculator for small businesses
This useful calculator from HM Revenue & Customs helps you calculate marginal rate relief on your business. To use the calculator, simply enter details of your accounting period, profits and the number of associated companies you have (if any). Once all the necessary information has been entered, the calculator will show the amount of any marginal rate relief you can claim, or tell you that none is due.
Win great new office products worth £500
EnterQuest has teamed up with Viking Direct to give readers the chance to win £500 worth of stylish new office products.
Viking Direct has an inventory of over 12,000 products and brand new for 2008 include the Leitz Vivanto filing range, the Niceday executive and ergonomic leather chairs, and the Brother MFC5860CN multi-function print, copy, fax and scan machine. And ideal for work or play are the new 7-inch digital photo frame and the iLamp - a stylish desk lamp incorporating an iPod dock and speakers.
Viking are offering two lucky readers the chance to win all these new products, together worth £500. To be in with a chance of winning, simply answer the following question:
Q. What is the brand name of the executive chairs in the new Viking range?
E-mail your answer, together with your name, address and daytime telephone number, using "Viking Direct Competition" as the e-mail subject line, to enterquest@cobwebinfo.com.
All entries must be received by March 28. EnterQuest and Viking Direct will use the information you provide for their own marketing purposes only and your details will never be shared with any third parties (except to arrange delivery of the prize). Competition rules are available on request.
In this book the author tells you how to become more efficient at strategies that everyone knows they should do or follow, but for one reason or another don't. The author explains in 18 chapters what managers and businesses can do to implement the strategies they know they should be following. Check out:
Just one word answer
The answer is a).
Assuage means to pacify or calm.
Yesterday's Budget did little to assuage growing fears about the economy. |
How's your business radar? The answers
1) The answer is d) - A staggering 93% of respondents said they were less confident in the Government since Gordon Brown's Budget in 2007.
2) The answer is b) - Alistair Darling announced a £12.5 million funding boost for women entrepreneurs as part of the Budget's package for small businesses. The Federation of Small Businesses (FSB) has welcomed this and other business-friendly announcements but says it wants action, not just talk.
3) The answer is a) - John Hutton said that before the introduction of the NMW, some workers could expect as little as 35p an hour. The GMB Union reckons the latest increase from £5.52 to £5.73 still gives workers a raw deal as food, oil and fuel prices continue to rise. |
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Good luck
The EnterQuest Team
This information is meant as a starting point only. Whilst all reasonable efforts have been made, the publisher makes no warranties that the information is accurate and up-to-date and will not be responsible for any errors or omissions in the information nor any consequences of any errors or omissions. Professional advice should be sought where appropriate. |
