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Your EnterQuest Bulletin - Issue 217
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| Thought for the week: "People who think by the inch and talk by the yard ought to be kicked by the foot." Anon |
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In this week's issue:
Top three tips for small business success
In recent issues of EnterQuest, we've been publishing case studies about small business owners who have lived and breathed the "real world" highs and lows of starting up and running a new enterprise.
These "in the trenches" insights have highlighted some key characteristics that typify the make-up of new business owners.
While the individual situations of each of the business owners interviewed differed considerably, some of the practical tips and advice that they suggested will certainly apply to just about any business, no matter what stage in their life cycle or what sector they are in.
Of course it's worth pointing out that while the enterprising interviewees belong to the more willingly opinionated group of business owners, they were certainly not the type of swankpots and Jack Strops whose views and experiences should be ignored.
Some of the business owners' tips in the interviews included:
- Be tenacious - never give up
- View your customers as a community
- Always treat each customer properly
- Keep your personal touch at all times
- Make sure you have a solid foundation at the start
OK, at first sight these may not appear to be the sort of tips that are going to make your knees tremble, but nevertheless they are exactly the type of bullsh*t-free, first-hand comments which make plenty of sense in the real small business world.
Having a business with a completely customer-focused outlook, coupled with a never give up attitude and a solid foundation from the start, are precisely the type of ingredients that you would expect to see in every moderately successful small venture.
Of course there are plenty of other enterprising characteristics that need to be on the business success menu. But there are one or two in particular that are simply essential if your venture is going to thrive.
Here's EnterQuest's quickfire guide to three "must-haves" that should be on every new business owner's priority list.
If you haven't got the responsibility for increasing sales at or near the very top of your priority list, it's likely you won't remain in business for very long. Every day of every week in your business you should be looking for new ways to find customers or get existing customers to buy from you again. There are probably a dozen different sales tactics or strategies you could be using in your business, but chances are that you're only using one or two. So begin to focus on testing out different techniques, sales channels and marketing methods to keep the customers and orders coming through the door.
If it says in your sales strapline that you sell "quality food" or "quality products" then this could well be a signal that this is not what you supply. Quality simply goes without saying. Your customers won't expect anything else other than a quality service from you and it's your responsibility as a business owner to be obsessed with ensuring that your products or services are of the highest possible standards at all times - even if it occasionally means hacking off your staff and suppliers along the way.
You may well be the type of Flash Harry business owner with the brass neck to go with it that could impress or charm the pants off everyone you meet. But do you turn your words and swagger into action? Successful business owners get things done and make things happen. Failures do not, they just continue to talk about it and wonder where they went wrong when the boat has been missed. Keep a daily or weekly priority list of what you and your business need to do and take personal responsibility for getting everything done.
A quick summary of interviewing questions
People in business use interview skills all the time - in recruiting staff, in appraising staff, in selecting suppliers and sub-contractors etc. These types of interview will require different approaches and different emphases, but the core requirement for all remains the same.
By structuring interviews and using appropriate interviewing questions, everyone will gain more from the process. Some strategies to try include using the following questioning techniques:
- Do use open questions which invite full and revealing answers such as:
'What attracted you to...?'
'How do you think you would like...?'
'Why do you think this post is right for you...?'
- Don't use closed questions such as 'Do you go out with people a lot?'
Try instead, 'How important is it to you to be with people in your spare time?'
- Do aim to encourage some self analysis by the interviewee:
'What strengths and qualities did you feel you needed to...?'
'What have your previous experiences of school, college or work given you in terms of skills, outlook and attitude?'
- Probing questions can bring more details to the surface:
'How would you react to opposition from your parents?'
'When was the last time you saw something through from start to finish?'
- The importance of tone and encouragement is stressed with attentive active listening coming top of the list in interviewing qualities. Depending on the responses made, a whole range of questions could be appropriate:
'What are your main 'selling points'?'
'How much do you know about...?'
For more information on interviewing as part of the selection process, see the Chartered Institute of Personnel and Development (CIPD) guidance, or our practical factsheet on planning and conducting a job interview.
Each week we provide you with summaries of some popular or emerging business ideas in the UK and elsewhere around the world.
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Organic baby clothes. Although organic cotton clothing is no longer a new concept, this business provides ethically minded parents with a way of buying organic cotton baby clothes for their newborns. Sones, a web-based business which sells everything from body suits to baby powder, was set up by Linda Sones when her first grandchild was born.
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 'propound'?
a) Speak loudly or with force
b) Add unnecessarily
c) Put forward or propose for discussion
d) Remove from consideration
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) HM Revenue & Customs (HMRC) is sending out warning letters to people who owe tax on what type of accounts?
a) Business accounts
b) Offshore accounts
c) Deposit accounts
d) Current accounts
2) Inspectors are to visit more than 1,000 construction sites between now and the end of July for health and safety checks. What type of accident does the Health and Safety Executive (HSE) say is responsible for most construction site deaths?
a) Faulty electrical equipment
b) Slips or trips
c) Chemical poisoning
d) Falls from height
3) The healthy eating message is persuading consumers to buy increasing amounts of what kind of food, according to analysts AC Neilson?
a) So-called 'superfoods', eg broccoli and blueberries
b) High-protein foods
c) Locally-grown fruit and vegetables
d) Organic meat
Answers at the end of the Bulletin.
How not to get ripped off
A DVD guide showing businesses how to protect their intellectual property (IP) rights has been made available online, after the success of a DVD packed with guidance for small enterprises. The 'How Not to Get Ripped Off' film was put together by Own It, which offers free IP advice to London-based creative businesses. The DVD, which lasts for an hour and a half, features a spokeswoman from the UK Intellectual Property Office and three case studies.
HSE guidance on REACH regulations
The Health and Safety Executive (HSE) has produced guidance on the Registration, Evaluation, Authorisation of Chemicals (REACH) regulations, which it says will affect almost every business in Europe, regardless of whether or not a business is normally involved in chemical regulation. The regulations aim to protect humans and the environment from chemical use, and will also enable free movement of substances in the European Union.
Blog backup online
This handy tool is useful for anyone who blogs, whether for a living or as part of their business. BlogBackupOnline is currently in beta mode, so it's currently free to sign up, and users are allocated 50 megabytes of storage space. The tool provides you with an easy way to restore and back up your blogs, and includes automatic daily backups.
Help with Outlook Express problems
Inside Outlook Express is a handy website full of hints and tips to help you deal with all sorts of problems that the popular e-mail system can give you. It includes tips on how to organise e-mails, how to deal with spam and dealing with problems and bugs.
This book intends to help the reader deal with difficult customers and achieve an outcome that works for everyone. It provides strategies to help you listen and sympathise with the 'customer from hell', then come up with a win-win solution. The guidance relates to problems encountered on the telephone, face-to-face, in the office and on the sales floor. Check out:
Just one word answer
The answer is c).
Propound means to put forward or propose for discussion.
The student was asked to propound his idea that there was a market for a sandwich business located near to the university. |
How's your business radar? The answers
1) The answer is b). The taxman is sending out letters to around 200,000 people who owe tax on offshore accounts, warning they face fines or even custodial sentences if they do not volunteer information.
2) The answer is d). Last year, 59 workers died following construction site accidents, 24 of whom fell from height.
3) The answer is a). AC Neilson found sales of superfoods like blueberries, salmon and spinach had soared as consumers took onboard the healthy eating message. |
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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. |
