Article 1 - The Government getting behind small business

While most people watched the new coalition government’s debut budget from behind the sofa, in fear of tax hikes and public sector pay freezes, Britain’s small business community actually had something to smile about.

Read more: HSBC Knowledge Centre

Article 2 – Atrack people to your facebook page

Communicating the presence of your company Facebook page and keeping users or readers engaged is a second important part of building a company page on Facebook. 

After you’ve identified your community-building objectives and the target audience, the key question to answer is: “What’s in it for them?” The success of your efforts to promote your Facebook page resides in having answers for these questions: Why will a person join your community? And why will that person participate in the community on an ongoing basis?

Read more: Wall Street Journal

Article 3 – Advanced Entrepreneurship

What makes an entrepreneur successful? Many have tried to answer this question, but few have delved deeper into what distinguishes a good entrepreneur from a great one.

Based on three decades of working inside 10 start-ups as a founder or early team member (and advising several more), I’ve come to believe that great entrepreneurs approach their job with a different mind-set than those who are merely good. Good entrepreneurs apply intelligence, drive, and business best practices to building their companies. Great entrepreneurs do this too, but they also know that a company’s early stages sometimes require less traditional methods. They add to their tool kit approaches that handle the chaos of a start-up.

Read more – Harvard Business Review

Frequent questions asked: “Where should I start?” “What must I do to get the team together?” “What should I focus on first?” These and many other questions sometimes increase the anxiety levels of new leaders. Although there are many success principles when it comes to teamwork and leading a small business, there are a few essential items that will go a long way in preventing, resolving issues and increasing team effectiveness.

V: Vision & Values

Vision brings a team together, values keep them together. When all the team members are clear about what they need to achieve, what they are working towards, and what the rules of engagement (values) are, morale will be a lot higher.

Your role, the leader’s role, is to create and ignite a burning vision, focus the team, give them the tools to reach the goals, remove obstacles, make hard decisions and get out of their way.

When team members feel that they are empowered in these ways, they will work a lot better together.

E: Empowerment through encouragement

Everyone in the team has a role to play. By the way, if this statement is not true, then the team was assembled incorrectly. Each member has to take ownership for the function they are fulfilling in the team. This means that as leader, you need to help members take responsibility for both their own role, but also the success of the team.

The best and easiest way to do this, is to encourage, recognize and reward your team when they have done something well.

T: Team identity through team building

Lastly, recognize that your team / small business is an entity with its own vision, purpose and personality. Use this! Brand this! Create, mold and build this identity.

Create a slogan, logo or motto that will inspire the team. Make it fun and true to the organizational culture. When people have a symbol that represents what they stand for and what they are doing, it brings people together.

Teams have the potential to achieve so much more if they are inspired and focused. Use this power of teams! Harness it and you’ll accelerate your team success and business growth, tenfold.

If there’s one thing all people share in common, it’s that we all have an opinion. True, some of us express our opinions more loudly than others. But we all decide whether we like or dislike almost everything we come across – and when it comes to a new service, product or brand, we quickly form opinions that are informed by what others tell us.

That’s why Twitter and Facebook have become so popular: people love to share their opinions. Why else do social networks buzz 24 hours a day with photos of our latest holidays, details on our new purchases and updates on what we’re doing right now?

Good news for growing businesses

Here’s an even more interesting question: Why are the rest of us listening?

It’s because we value others’ opinions. It’s because we love to communicate and interact with one another, and social networking is the latest and most exciting way to do it. And it’s because we like to have our own opinions validated by other people.

In terms of human behaviour, it’s nothing new. But technology now allows word of mouth to spread further and more quickly than ever before – let’s call it the “wildfire” effect. The good news for growing businesses is that in the era of social media, you can start your own word-of-mouth “wildfire” that informs customer opinions about your products and services.

As online marketing expert Tamar Weinberg puts it: “Social media is simply utilizing technology and the Internet to connect people’s inherent need to be communicative with others [...] But in the online world, you can nurture perceptions. Most consumers are a lot more forgiving to companies that ‘get it’ and put customers first.”

Start your own word-of-mouth “wildfire”

So how can you start to “nurture the perceptions” of your own customers? Here are a few fundamentals to get right when using social media to promote your business:

• Research your market audience, get to know them and engage with them on their level.
• Keep it fun and interesting, but always think twice about what you say online – does it convey the friendly but professional image you need?
• Don’t just self-promote. Build the trust of your customers by sharing your expert knowledge with them.
• Listen to your community. Don’t worry about getting negative feedback from customers – use it to improve what you do.
• Don’t be fooled into thinking social media can become your core business. It’s extremely useful, but it’s still just a communication tool.
• Focus on your core niche and unique selling points – you can’t please everyone!
• Test, implement, review, adjust. You won’t get it right first time, but this process will help you find what works for you.
• Manage and meet your community’s expectations, by being regular and consistent in all your online activities.

We all have opinions, and we’re all influenced by the views of other people. By engaging with your audience, you can get more referrals and positively influence word of mouth about your business – and thanks to social media, it could spread like wildfire.

Is your business or project stuck in first gear..? Or is your business a well-oiled machine, shifting gears smoothly quickly when necessary..?

It all boils down to people… whether you’re looking for business growth, operations efficiency or achieving a specific target or goal. The difference between teams that succeed and those who don’t, can be found in their communication. Most big organisations or corporations recognise the importance of open and firm-wide communication. But most SME entrepreneurs and owners miss this opportunity as they most often assume everyone knows what he or she is thinking. Often these “unspoken expectations” are the main cause of issues and misunderstandings.

Good communication starts with good listening. Listening can be seen as the foundation of effective communication, because team members who listen to each other will be able to respond appropriately and efficiently to others. Active listening should be regarded as the bedrock of any good communication. After you properly and really understand what is being said (verbally and non-verbally), you need to respond by using the following “5C Gears” of effective leadership communication:

1. Clarity

Clarity is the antidote to misunderstandings, frustration and confusion. Make sure that you clearly say what you want from others in a team as well as what you are doing. Taking a few minutes at the end of a conversation or meeting to make sure that everybody is clear on the actions that will be taken, can reduce misunderstandings radically.

2. Compliment

When compliments are sincere, they can encourage a team to new heights. Negative communication that only focuses on problem areas can often break down the morale of teams, while positive communication or compliments will boost their performance and motivation.

3. Continuous

Communication is a continuous process. It takes place through several channels, like letters, e-mails, memos, message boards, meetings, and one-on-ones. It’s your / the team leader’s responsibility to ensure there are regular check-points or meetings through which issues can be raised and resolved easily, quickly and effectively.

4. Consistent

Nothing frustrates team members more than being thrown from larboard to starboard by indecisive management. It is vital that teams know exactly what is expected of them and WHY. And that this message remains consistent throughout project delivery. Nobody can or will commit to a task that they don’t believe in, and nobody will believe it if you don’t really know why it should be done! Once a team leader or manager has decided on a course of action, it has to be communicated consistently, without giving conflicting messages to different team members.

5. Connect

If you want a team to work well together, they need to really connect to each other. This usually happens as a result of aligning expectations openly, recognition, respecting individual differences and having a clear common inspiring goal or vision. Connections between members can also be improved by enabling the team to spend time together outside of the team context.

Communication is a FREE infinite resource for project and business success. But it takes a clear plan and continuous commitment to be utilised successfully! Knowing how to effectively use it will be the difference between stop starting in first gear and racing to the foal line in top gear!

“Google it!” This has become the standard answer to almost any question – even in the business world. Yet although Google is constantly improving the quality and relevance of its results, there are some questions it still can’t answer. You still need to decide what information to use and how to implement it in your business.

To put it another way, the Information Age has changed the playing field. The old paradigm was: “He who knows the most, wins”. Now it is: “He who knows what to do with the information, wins”. The difficulty now is in WHAT to do and HOW.

There are two ways to figure this out. The first is trial and error, using free information. The second is to pay an expert or consultant to tell you. Each of these has its own unique obstacles and opportunities. But which really adds the most value to your business? Which is fastest to implement? And which is really the most economical in the long-run?

Find what works for your business

Before we continue, it’s important to realise that 80% of what any consultant, mentor, coach or advisor will ever tell you, you will probably have heard before or could have found on the Internet. So what’s the point? Why pay for their services?

The point is this: having all the pieces of the puzzle doesn’t help you if you don’t know what the picture should look like. Consultants and mentors do see the big picture. Through their experience and skills, the chances are they will have a much clearer picture of what will work for your organisation – and what won’t work. They can also bring a systematic way of working through your challenges and implementing change. They not only know what to do, but how to do it too.

Secondly, there is a general misconception among some entrepreneurs that there is a magic formula to business success. Well, brace yourself: There is NO such thing! It’s all about FINDING what works for you and your organisation. Note the word “find” and understand that it means a process of trial and error, of test and review.

Of course, there are minimum requirements to standing a fair chance of success. You need a product or service to sell. People need to know about the thing you are selling. It needs to be something they want or need, and most importantly are willing to pay for. And you need a way to get your product or service to them, take their money, and deal with after-sales service.

EVERYTHING else is just there to help improve and maximise the results.

So how do you find out how to improve and maximise your results? Two ways:

1. Make the most of what’s available for Free

There is so much information available for free: online: articles, e-books, forums, blogs, wikis; offline: newspapers, magazines, books, and libraries.

The issue is no longer availability, but rather credibility. How do you know what to believe and use and what not to..?

Here are a few practical tips:

1. Review many different sources and consider the common trends, patterns and themes
2. Speak to the professional or trade organisations in your industry
3. Speak to independent information organisations such as the British Library and UKTI
4. Consider the practicality of the advice or information – will you be able to implement it in your business?
5. Be mindful of what you don’t know or read
6. Read up on the “expert” (use the same steps as suggested below)

2. Find the right adviser for you

So what does all this have to do with advisers? Simple – advisers should be of genuine benefit to your business. In other words, they should earn their fees by doing the following:

1. Objectively review your current business activities
2. Benchmark your business against competitors and companies outside your industry
3. Make recommendations for improvement
4. Be able to implement these recommendations step-by-step

But, as stated at the beginning of this article, the hard part is NOT finding someone willing to give you advice. The hard part is knowing when to LISTEN and when to PAY FOR IT.

Here are some practical and useful guidelines:

1. Never take advice from someone who doesn’t have personal, first-hand experience in the recommendation they are making, or who isn’t accountable for their advice. The best advisers have achieved personal success in their field.

2. Ask for personal recommendations from colleagues, and competitors, friends and family. We live in the age of social networks, so use them!

3. Phone up or meet up with the advisor and don’t be afraid to ask tough questions. Like:

• How will you make a difference in my business?
• What makes you my best option?
• How much do you charge?
• What happens if your advice does not work?
• Are you registered with a regulator?

4. Agree on a “try before you buy” trial period. It’s the best way to find out if an adviser lives up to his or her own claims.

5. Do your homework! Check the adviser’s credibility – you could start by searching for them on Google, Facebook and LinkedIn.

6. Build a relationship – look for an adviser who wants to engage with you on a long-term basis. Consultants looking for quick clients won’t have your long-term success at heart.

7. Make sure their advice will be real and relevant.  Ask for practical examples – no Corporate Management mumbo jumbo!

8. Test all recommendations before making a large scale investment.

The bottom line

Free information is the best place to start your search for solutions. It helps you build a background big picture of the problem or challenge and possible solutions. But it’s always best to get expert advice for implementing complex specific changes.

It’s important to realise that: You actually need both free information and expert advice. The key is to maintain a healthy balance between the two based on your own time, skills, contacts and resources (money) available. 

Enter NOW!

Rules in short:

• Refer a friend, family member, colleague or contact who has a Small Business based in the UK, that can benefit from Business Coaching and Consulting
• You can win a brilliant brand new Apple iPad, and
• They can win 6 months FREE Business Building Consulting!

EASY! Don’t delay, do it NOW!

If you are an Entrepreneur, Small business owner or just a concerned parent that don’t want your kids to end up in the same rat race you are in, watch this!!

Stay tuned! Competition launching 1 July 2010!

What am I talking about..? YouTube, of course…

I found this fascinating quote today:

If you are an owner of a small business, you definitely have heard of the power of online video marketing and you know that entrepreneurs around the world are rushing to make marketing videos for YouTube.videolane.com, Make Better YouTube Videos for Business with 7 Things | VideoLane.com, Jun 2010

You should read the whole article.

As part of Prime minister David Cameron’s vowed to “re-open Britain for business”, the coalition government pledged to cut red tape. The regulatory and administrative burden is often cited by small business owners as the biggest barrier to growing their businesses.

“The deluge of new regulations has been choking off enterprise for too long. We must move away from the view that the only way to solve problems is to regulate,” said Cable.

Read the full FSB press release at: http://www.fsb.org.uk/News.aspx?loc=pressroom&rec=6352