Running A Business | Business Ethics Are Key

Running A Business | Business Ethics Are Key!

The way people behave in business has been troubling me lately. The integrity of a business is what is presented to the outside world. It starts off with politeness and courtesy, moves on to turning up on time and then to doing what you say you can. It also covers not saying you can do something when you can’t!

Communication is a lot to do with it. If you say when you are going to pay, make sure you do what you say. For any business struggling with cash flow that is a useful tip. Much better that you get in first and tell them what you can do rather than wait until the boys are coming round and start bleating then!

Think about all the times you have received poor service. A lot of it was unmanaged expectation. Had you been told some investigation was needed and a reply would be given within a certain time you would have waited. Had you been told what was happening/why there was a delay/ given an apology for whatever was amiss it is likely you would have had your opinion of the place enhanced and may even have recommended it.  To read the full article by Bob Shepherd on "Business Ethics", just click here.  Simple really!

Business in a box | Franchises

Business in a box | Franchises

One very basic question applies to all Business Franchises of whatever flavour, size or type. It all comes from this.........

"Is the money you are spending to get a ready made business as much or even more than it would cost you to set it up anyway?”

You might be surprised how often the question is ignored and how often the calculation is a close run thing. There may be other reasons for using a franchise but – buyer beware! The considerations for buying a Franchise are not that different to setting up a new business. In some cases the....... To read the full Bob Shepherd Associates LinkedIn Article, just click here. Simple really.

Business Marketing | A Different Audience

Business Marketing | A Different Audience

"First rule of business marketing: Always speak to your audience!"

When you present a talk always gear it up to the level you want for the audience you are going to have. It will be appreciated more. That seems obvious doesn’t it?

So too with writing. These articles usually have some business point to make and illustrate and my natural style is not always appropriate. It needs varying to make the point hit home. So too with networking, or the broadcasting of your business in any way at all. Varying the pitch and the style applies to speech just as much as it does to writing and presenting. What is confusingly called your ‘elevator pitch’ might be different in different places. It needs preparation and some careful thought, particularly as you have only a few seconds to get your point across....... To read the full Article by Bob Shepherd Associates, just click here. Simple really.

Business Marketing | Increase your social media weight

Business Marketing | Increase your social media weight

One of the few areas where increasing your weight is necessary is where you have a business with a presence on-line but you have yet to grasp it and create some waves and positive consequences for your business.

Leaving aside all else for a moment there is something you can do with Twitter that is not so obvious. Assuming you have Twitter profile and you are posting a variety of messages with the occasional flag waving for your business – that’s another article in itself, then you are probably trying to find ways of increasing your followers with useful contacts.  To read the full LinkedIn article, just click here. Simple really.

Business Planning | Building Businesses

Five years ago, after months of consideration I hit on a way to describe what I do in a short introduction at business meetings. Bob Shepherd Associates is good at building businesses. The phrase is positive and constructive and does actually cover the case.

"I’m known as Bob, the Business Builder" as a result.

When I view a business I am looking for all the components to fit together and all fire at the same rate. If they don't, then there is something to work upon. For a new start up business it is more a question of making sure the business has all the components available, but the principle is the same.  To read the full LinkedIn article, just click here. Simple really.

Networking | People in business

Business Networking | People in Business

Business is about people to a large degree. People are always in the mix somewhere. They might be customers, staff, suppliers, contacts etc. Those who have the soft skills for dealing with people successfully can find it easier to get on and to be successful. The small business owner needs to network.

The sole trader or consultant trying to cover everything certainly needs to network. That may not be formal meetings though. Stopping to pass the time of day with people, in person, on the phone, by email, Twitter, LinkedIn, Facebook is always important. It is becoming the case that everyone is assumed to be in with it all and taking part in the conversations.

Some people are more gifted in these things than others.  To read the full LinkedIn article, just click here. Simple really.

Business Planning | The big risky tickets in one basket

Business Planning | The big risky tickets in one basket

Small is sometimes better. Take the railways for example. The government has pinned a lot on HS2 the high speed line that will unzip economic miracles for that foggy bit they are unsure about up the M1 somewhere. £55 billion is big by any standards and I bet it's more by the time we have finished. It'll save a few minutes off journey times apparently.

Return on investment is a subjective interpretation in many ways . That money would be better spent financing smaller rail projects and rail regenerations. There is a stack of evidence that local rail regenerations work, and then some. The Ebbw Vale line to Cardiff is a local example for me. Lately the Midlothian "Borders railway" is a recent one.  To read the full LinkedIn Article by Bob Shepherd, just click here.  Simple really

Business Finance | Alternative Investments

Business Finance | Alternative Investments

In recent times the alternative investments markets have received more attention and publicity. There are realistic markets in Diamonds and Wines, Stamps and coins as well as Gold and other metals, Fine Art and Antiques and Classic Cars.

You can have an investment in Wines for example, have the broker store it for you and never actually lay eyes on it. If you are cold blooded about it and study the 'form' you can make money from these things. In a more casual way you can watch the TV programmes and see what excites you. if you are a collector by nature you will probably have an idea what your own collection is 'worth'. Always become knowledgeable before you step in and commit your savings. 

As a collector.... To read the full LinkedIn article by Bob Shepherd Associates, just click here. It's that simple.

Marketing | The Elevator Pitch. So Important When Networking

Marketing | The elevator pitch, so important when networking

It’s a strange term in business that has achieved the status of a phrase everybody knows and few people have examined for meaning.

Elevating is lifting up in some way and that is quite graphic. The word pitch is interesting though. There are dozens of meanings for the word, actually 50 listed in my dictionary.  In the business networking context I like the idea that it could mean the tone of your presentation, as it does in music.

More aggressively when you pitch something you throw it and the idea of hurling your service or product at someone you have just met is an anathema to business networking folk. It will get you nowhere.  To read the full LinkedIn Post by Bob Shepherd Associates, click here.  Simple Really.

Running A Business | It's Lonely At The Top

Running a business | It's lonely at the top

If you are running a business you need to wear many hats, you need to know everything and you need to know it now.

More than this - in many case you are isolated and alone. It is therefore, important that from time to time you take off all those hats and create some time for you to reflect, some time for you to learn, some time for 'You' to improve. In fact you will get more done, be more directed and more efficient.  To read the full LinkedIn post by Bob Shepherd Associates, click here.  Simple really.

Organic Marketing | Networking South Wales

There are dozens of business networks in South Wales . I help businesses with business strategy and planning (“Business Building”) and I deal with business finance and organisation. Not a shameless plug altogether because my point is that the business planning for growth requires experience and knowledge in networking as a major sub heading under the all embracing term “Marketing”. You need all this in place to get your finance sorted to show you are a functional business ,  by which time you have a plan to put into action, if you have done it properly.

My view is that there is not just one answer to networking. Some networks work best with a business that can be easily pigeon holed by everyone. (Accurately or not – doesn’t matter, you can sort that out later on). Other businesses do not.

So which group is best for you?

To read the full LinkedIn article by Bob Shepherd Associates, please click the link.  Simple really.

Leadership | The thing about business, big or small

Leadership | The thing about business, big or small

Whatever the flavour, size, style or type of  business you have there are some common features - some common characteristics. This is the secret behind how I can contribute to a business. I do not actually need to know the technical and finer points of the business to know what needs some attention, needs a fix or needs some development.

For example all businesses need to communicate with the outside world in an attractive and constructively encouraging way. The methods for doing that may have differences in detail and sophistication and will have a different focus on one channel over another, but still the principle is there.  To read the full LinkedIn post by Bob Shepherd Assocaites, please click here.

Business Running | No Word For 'Entrepreneur'

Business Running | No Word For 'Entrepreneur'

George Bush is famously supposed to have remarked that the trouble with the French is that they have no word for ‘Entrepreneur’. Quite funny but there is another aspect here. Any business needs to have a spirit of enterprise amongst its employees. It has been called Intrapreneurialism.

The best companies invite a spirit of ownership in the doings of their employees which instils a sense of value and helps with staff retention. According to some UK small businesses research.... To read the full LinkedIn post by Bob Shepherd Associates, just click here.

I‘ve got a Business Plan, have you.

I‘ve got a Business Plan, have you?

Give yourself full marks....If it lives in a drawer somewhere, take off 10 points. Take off 20 points for every three months since you looked at it. Take off 10 points if it is less than 3 pages long. Take off 20 points if you used a “business plan template”. Take off 10 points if it is a several generation old photocopied questionnaire type template. Take away 20 points if it did not have a monthly cashflow forecast that you update. Take off 50 points if you did not see the point when you did it. To read the full LinkedIn article, click here:

Business Ethics and Presentation

Business Ethics and Presentation

What is it about the human condition that promotes corruption? By corruption I do not just mean out and out dishonest extra payments to circumvent a procedure, such as seems hopelessly endemic in some parts of the world. I mean any attempt to pull a fast one, to gain an edge by underhand means, to mislead with some sort of commercial gain. Simply to not bother is almost as bad. To read the full LinkedIn article by Bob Shepherd, click here

What's in a business name?

What's in a business name?

What name should you call a new business? Decide all the attributes you want an intended audience to attach to the name. Write down these qualities. When you hit on a name check it to see if it includes these points.

Try to avoid anything difficult to say or spell. You want to be understood over the telephone and elsewhere and you want people to relate to the name easily. A quirky spelling might be all right or it might mean no one can find you listed anywhere.

Avoid initials that sound like others. The phone test is a good one again. P’s sound like D’s Vs and B’s for example. Again, do you want people to find you easily or not? Click this link to read the full post, on LinkedIn

How To Avoid Alientating People During a Presentation

How To Avoid Alientating People During a Presentation

Do you feel obliged to have a presentation for that little talk?

You need to demonstrate a command of your subject and yourself, but there is more to this than having a comprehensive set of slides.

There will be times, though, when you’re in front of an audience or a group and actually need some other presentation aid. It could be worthwhile using a flip chart or some props. How about standing up and winning them over with strength of personality? Humour is more powerful than statistics.

This post by Bob Shepherd contains some insightful thoughts around achieving a successful presentation. Remember you are taking the audience on a journey. Don't lose them! “Click this link to read the full article, on LinkedIn” 

From Little Acorns ...

Don't judge a book!

Small business acorns grow into big business trees!  Recently I took on a new client who was running a very small lifestyle business. I always maintain in helping a business the size of business does not matter. The principles of business are always there to be questioned and looked for. What you do about that alters with the sophistication and size of the business, but the basics are always there.

My new client had a part time face painting business. Immediately coming to mind will be kid's parties and school fetes. Coming from a corporate background my client had some contacts already and had also done some company events as well as a few parties.

Other possibilities open out when you think about it. Weddings? The bridesmaids have spent a fortune on their makeup and everyone else is made up to the nines. However they won't mind having a pretty design on their arms. The children need a focus anyway so a wedding makes sense as does a corporate staff event.

Add to school fetes some agricultural shows and other outdoor events and you can see the business needs some hired help. Collaborating with trusted painters and recruiting helpers to manage queues,  take money and distribute leaflets means having a well organised operation. Outdoor events can mean anything from rallies and shows of all kinds to athletics and other sporting events, including internationals. This leads on to other collaborations and before long we are organising  events.

Having the right staff to represent you means training and managing. Promotional activity means having equipment sets and materials, banners, gazebos, stickers and leaflets, portfolios etc. etc.

In a short space of time our little face painting hobby business has turned into a full blown entertainment exercise with a substantial capacity for income.  Now we have a franchise-able business!

There are the designs for the various events and festivals of the yearly calendar plus the health and safety training.  Supplying the materials and templates and specialist equipment opens up further income streams for an attractive franchise business. Then the web sites and all the promotional activities become developed and sophisticated for everyone involved.

"Face painting by Irene" in Chepstow and Caldicot  can be Face Painting by Nora for Norwich, Martin from Manchester,  Bridget from Bristol... 

We have a UK wide business!

 

Many thanks to Face Painting By Irene and Irene Quelch who has given me permission to use her business as a basis for this article. She is not there with all this as yet, but is well on the way. Irene can be found at http://facepaintingbyirene.co.uk/ and contacted by phone on 07826 847617 if you are in SE Wales. 

Other areas, Stand by! It's coming!

Tescos - The Devil Is Not Always In The Detail

In response to a downturn in fortunes partly due to adverse PR from a couple of monumental mistakes the big Tesco machine has decided to retreat. Some 43 stores across the UK will be closing and some big developments will not be going ahead. A news article today has some details at http://www.bbc.co.uk/news/magazine-31365003 

This strikes me as the wrong strategy. It is not as if there are not still massive profits being turned in. They are not actually short of cash. Closing some stores is negative PR (again) and a reduction in the potential opportunity for income. Empty sites underline the idea that Tescos are not doing very well. In fact they are doing well, just not so well as they used to do. 

A giant Tesco Extra opened in Newport a couple of years ago. From the beginning it was obvious that something was wrong. Rushing to open it against the competition (Morrisons opened just down the road a week earlier!) it seemed poorly laid out and not well managed at the start. It was just too big. By the time you had traversed the aisles and discovered you had forgotten the sugar you were some distance away. 

It works better nowadays. The management has got to grips with it and though there are large areas of unused floor space it is now better organised.

One solution to all these closures and mothballed stores would be to adopt more of the policy they already have for including other enterprises in the main store. A number of small units and kiosks operate within the Tesco store building. Expanding that idea along the lines of a mini shopping mall would attract people to the Tesco store as well. This is the opposite to the current thinking which has people attracted to the units, because they are already in the store for Tescos. Department stores have been doing this for decades and still maintain their integrity. 

Keep it simple is my advice. My feedback to their recent survey on Price Matching was that it was not so important as they thought. Penny pinching over their rivals and in the process doing damage to the economy in the long run only generates more bad publicity in the end.

I am not used to giant supermarket chains phoning me up wanting Bob Shepherd Associates as consultants but the principles of a qualified external view, coupled with management strategies and basic business principles are there whatever size operation you have. The devil is not always in the detail.

What First, What Next?

What to do first, what to do next? Starting your own business is fun, worrying, exciting and full of query. 

Most people start their business with a good idea of what they are going to do. Very often though they have not thought quite how they are actually going do it. Surely everyone will see how valuable a service or how good a product this is? We'll open our doors on the Monday and be flying by the end of the week!

The reality is very different of course. The statistics show that most businesses will fail in the first year and a few more stubborn individuals in the second and third years. Nonsense of course, because those figures include the wacky ones, the lazy ones, and a collection of no-hopers. If you took a measure of the good business ideas that are delivered with real intent, adequate planning, good support and sensible resources for what they are doing, the success rates are very different.

Bob Shepherd Associates will get you there sensibly, quickly, practically and with good practical guidance on what is feasible and what should be scheduled for next year. It will save you loads of time and money, not to mention your overall nervous condition. 

We have many stories, examples and testimonials from others who also think we can do it!