We’ve done the right thing and become Bizfix

When we began piloting a brand new way for local businesses to get top quality business advice and support for an affordable fixed fee we knew we were doing the right thing.

We talked with some fantastic business leaders. They made it easy for us to know what local businesses want. They said give us proper advice and support that is:

1. easy to access
2. easy to understand
3. easy to use
4. based on the most important business issues
5. realistically priced.

So, while we piloted and did a tonne of research on our products and services, we didn’t research far enough about our brand and our website. Clients found our old website unappealing, and people were confused by our former name Do the Right Thing. Ouch!

So today we are delighted to launch a clear and easy to access website, which is packed with serious content for local businesses. We also fixed our name so it is easier to understand how we help businesses grow. Welcome to Bizfix, fine-tuning for business.

There are lots of new tools and tips to help local businesses grow so please take a look at www.bizfix.co.uk and let us know what you thing.

You can also sign up to our updated blog there!

If you can answer this small business question, you can dominate

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Predicting business performance

There is one question I typically ask all our business clients. Whether they are a small local Cambridge business, or a multi-national looking for business advice, their ability to answer this one question is an excellent predictor of their business success.     

Customers, profits or innovation

No matter whether we are working with them on bringing in more customers, developing higher profit margins or developing new products and services, those businesses that can answer this one question, consistently outperform their business competitors. And the question is ….   

“What do you want to do with your business?”    

I know, radical isn’t it? You might think it is too simple for words but just try it. Ask a friend what the top management of their company is trying to achieve and you will get lots of hums and aahs but you will not get a succinct, direct phrase that makes it crystal clear where that company is heading.    

Think it is easy? Well try this exercise for yourself.    

1. Take a pen
2. Get a piece of paper
3. Write down:

Over the next 5 years I want my business to be known for ….    

The trick is you are only allowed one thing. And you will note that it stops you saying “I just want to make a mountain of money.” You have to have something that is more meaningful than that, then the money flows. If you find your plan talks about excellent customer service and valuing staff, and blah, blah, blah, you have missed the point. Rip it up and start again.   

Need some small business inspiration

Here are a few examples from big business that could work as inspiration for your business. They date back to the 1950’s but are still cracking today.    

• Boeing: Become the dominant player in commercial aircraft and bring the world into the jet age.
• Sony: Become the Company most known for changing the worldwide poor-quality image of Japanese products
• Stanford University: Become the Harvard of the West

What is the best business statement you have heard? Is it your own? Let us know by commenting below.

Related Articles

• Improve small business customer service with a personal touch (customerthink.com)

    

More business for (nearly) no effort – tasty?

Tastier profits

What could be tastier than getting more business for doing almost nothing? OK to be fair it is going to involve you in about an hour’s one-off set up, and then maybe a minute each day, but for more sales that seems worth it, right?

As I walked through Cambridge yesterday I stumbled – almost literally, it was busy – across this.  I walked past almost without noticing the shop front. I certainly had no intention of buying from them, then I saw it and it made me stop, go back and buy. It is in the right place, at exactly the right time and it is cute and made me smile. Their timely prompt instigated my impulse buy, making me happy (it was delicious) and making the business owners richer (from extra sales).

Permanently free promotion – tasty!

If you have a physical presence (a shop, office, or other buildings) that the public passes then you need your equivalent. So if you want to grow your Cambridge business get out there with one (or better still two) of these. By mentioning “Do the Right Thing” you will get a 10% discount off any A-frame sign with an excellent local Cambridge firm Algar Signcraft

For those of you looking for the virtual/techie equivalent of this, take a look at our recent post “More local customers while you sleep“. And if you get more business from taking this business advice, come and let us know by posting a comment.

Do the Right Thing helps local business grow see how

Cambridge businesses on the up

UK economic growth climbs by 1.1% and Cambridge, with the tourist appeal of one of the world’s greatest universities (not to mention beautiful scenery, thriving culture and easy access to London), could also benefit from a 60% growth in tourism by 2020. A new report from Deloitte says that tourism directly contributes £52 billion per year (4% of GDP) and £63 billion in indirect contributions.

New communications technology needed

But, claim Visit Britain who commissioned the report, say we need government intervention to help Cambridge’s small and medium-sized businesses cut their running costs particularly though using new technology. If by that they mean things like Twitter, Facebook and blogging for communications, e-commerce for handling sales and other cool tech stuff, some newer Cambridge companies are way ahead of the game. Here is one example of how a Cambridge business helps local businesses bat on a par with the big boys.

Business grants and business support

If the government really want to support Cambridge entrepreneurs with ideas for starting small businesses, then business grants and small business advice may be more profitable than exhortations to work smarter.

Do the Right Thing turns business advice into profit. For no-nonsense, no-jargon business advice you can turn into real value Do the Right Thing and book a free business advice session here

Cambridge University key to small business growth

 

More local customers while you sleep

Google Places

If you don’t yet have a listing on Google Places, you are missing out on permanent promotion for your business – frankly while you sleep. Don’t you want potential customers to find you?

4 Minute set up

Set it up in 4 minutes, and your customers will be able to find you for your business name or business category (florist, baker, business management consultant “ahem.”)       

Get it while you can

There are rumours afoot that Google plans to change the way it lists (and you can bet charges for) local business information so get in now while the going is free. If you work from home and don’t want to list your actual address, a street name is fine. You can even generate free online coupons (offer a discount, promote a sale, etc.).

It is cool, it is free, it works when you don’t. What’s not to like?      

More good stuff

Do the Right Thing turns business advice into profit. Do the Right Thing and call 01223 851 161 or email grow@rightthings.co.uk for a free business advice session. Find out more HERE
Sort out your blog HERE
Follow us on Twitter HERE    

Most importantly subscribe to this blog (top right subscribe button) so you don’t miss a thing.
  

Business 365 – what matters most to you?

This post is part of our Business 365 project.

Which topics matter most to you? Find out more about the Business 365 Project and give us your suggestions for top business issues that matter to you on our dedicated post – you can also leave your comment below. We reward our top commentators with free content, links and Twitter promo. What do you want most?

We have just launched the UK’s broadest and most-up-to-date business issue spot. Though 2010 we are finding out what are you top 365 local and small business issues and we’ll be publishing our grow your business every single day book with an action you can do each day to grow your business (this usually means grow your profit). To suggest a business issue or topic, comment here or tweet us. Every person who suggests a business issue that gets included in the Business 365 Project gets a free copy of the 365 book. A free answer to your very own question – what could be fairer than that?

You can also sign up for our updates and business advice and support newsletter. Register up on the top right of this page.

No one buying?

If you have a great product or service how come no one is buying?

There could be several reasons and in true blog style here are 5 top reasons for your customers missing your very excellent point:

1. They don’t know about it
Have you ever searched high and low, trawled the internet and asked your friends but not been able to find what you are looking for (currently I’m looking for a fitted vintage overcoat – 1940′s or maybe 1950′s at a push so if you know of one do let me know.) So you need to know who your market is and then let them know what you have to offer. We all know that social marketing (Twitter and blogging and Facebook) can carry our message. But so too can ads in the local papers, or leaflets through letter boxes so don’t overlook traditional communications just because they don’t sound trendy.

2. They don’t understand it (or their need for it)
Can you describe your ‘thing’ in about 15 words? Would you granny understand what you do? If you can’t put into simple words what it is that you can bring to your customers then how do you expect them to decide to buy? Explain what benefits your thing bring to them, what problems you solve for them and how this will improve their lives (not yours).

3. They don’t know how to buy from you
I was trying to buy some picture frames online yesterday and the process was so complicated with double mounts in different weights and colours and the sizing didn’t match my pictures in the end I walked away and didn’t order. That company made it so difficult to buy from them that I’d rather do without (or maybe go into a store that could fix it for me). Ask you customers about your current buying process. Get some market research specifically on this point. They are parting with their hard-earned cash so make it easy for them to put their hands in their (virtual or real) pockets to buy from you.

4. It is not a product or service they actually want to pay for
If they can get your offering somewhere else for free why would they pay? If they don’t see the need for your product – why would they pay? If they can get something that handles their problem just as well – why would they pay you? Instead of just thinking you have the world’s best thing, get out and do some market research. And it only counts if you do it with people you know.

5. You!
I once went to have my hair cut and the barber thought it would be fun to argue with me about EVERYTHING we discussed. Now, I’m all up for a bit of healthy banter but on that day I just wasn’t in the mood. I felt like I’d been assaulted by the end of the mediocre haircut and guess how likely I am to ever go back there? Your customers have a choice of where their spend their cash, make it easy and pleasant for them to buy from you or they simply won’t.

So now you know, there’s no reason why your ‘thing’ shouldn’t be flying off the shelves. If it is please post a comment and tell us how. If it’s not get in touch and we’d love to help.

True, true cost of sales

To know if you are making any profit, or how much, you need to know the true cost of your product or service. If you don’t include all your relevant costs you could well be selling at a loss so that each time you sell Your Thing it costs you more than you earn. To avoid losing money on every sale, take each of your products or services in turn and list every aspect of cost that goes into supplying it. You will probably include things like marketing, staff costs and raw materials but what about a portion of your overhead (heat, light, premises etc.), What about the cost of any travel you need to make the sale or the staff time for solving problems and after-sales support? The easiest way accurately calculate the true, true costs is to take your expenditure for one month, allocate every single cost to one or more of your products or services and then you can be certain you have not left any hidden costs that will be eating away at your profit margin. Once you know the true cost then you know the minimum you need to sell Your Thing for, before you even begin to make a penny of profit (and remember you’ll have tax to pay on any of that profit too).

Get a free true cost of sale spreadsheet that automatically crunches the number for you email grow@rightthings.co.uk

Be there even when you are somewhere else

What are they up to?

 

Earlier this week I took a pretty long trip to check out a venue where I am running a conference for one of my clients during the summer. I had in the back of my mind that it was a long way to go just to see a room, and when I’m so busy is it really necessary? Having learned from not always good experience there is no replacement for seeing it with your own eyes, I made the trip and of course I spotted some vital things that will now make the conference fly and they could — had I not found them till I turned up to run the event —  have made the event die. 

You might not be running an event for someone else, but you probably do have staff who work on your behalf at a distance where you cannot see and hear what they are doing. How do you know if they are doing a good job?  What if they are upsetting your customers and potential clients rather than making sales. What if you staff when they say they are ‘working from home’ are actually goofing off the whole day? Here are 3 checks you can easily do to see if your distributed workforce (that’s people working out from under you beady eye) are doing a good job for you or killing your company. 

1. Go and try it for yourself. Once in a while there is no replacement for seeing it for yourself. If you have a sales team – go on a sales visit with them or better still arrange to meet some clients on your own. You can show them how important they are to your company by you just being there and asking about your team’s performance in a way that invites feedback (both the good and bad) means you could find out something critical. 

2. Employ the right people. Think of the great business people or scientists, artists or musicians you have heard of. No one has to watch them to see they are doing a good job. No one insists they clock in and out or keep time sheets. If you have the right people working in your company they will want to do a great job so you can minimise the amount of time you need to supervise them. And the opposite is true. If you have the wrong people in your business no matter how closely you supervise them, they will find ways of getting around your policing. Check out our article on hiring the right people. 

3. Measure results not activity. If your best sales person is selling 5 times more than everyone else do you really care if she goes home at 4 pm every day or takes a 2 hour lunch as long as she keeps on being the best sales person by a mile? Is the guy who is there from dawn till dusk looking busy, but making mediocre sales, helping your company more? Give them a clear job to do, give them the resources they need to do it then get out of their way and let them do what they are best at. 

Look out for our next piece on the right way to measure real work performance for more ideas on how to be there even when you are somewhere else.