Spring to Action Ltd

Keeping up Your Motivation

Having an idea to start a business is an exciting, thrilling time, when the possibilities of working for yourself start to take shape. You may dream of the ability to make your own decisions, control your workload, make more money or spend more time with your family.

As time passes and you work on your business losing motivation can be a common issue. How do you keep focused on the business when you're worried about where the next job will come from or distracted by other issues?

Goals and ambitions are key here.  Take time to think about your aspirations - where do you want to be in 2 years time? Making a decent income, paying off your debts, on holiday somewhere exotic, paying for your children to enjoy themselves?

You also need to break this down into smaller, achieveable goals, perhaps on a weekly basis. Write them down and post them somewhere obvious, like a noticeboard or in your diary.  How many people do you need to contact this week? How much money do you need to earn? What else do you need to do? Lists are so important, but be as creative as you can be about how you represent this information.

And my final tip? Congratulate yourself when you achieve something. Learn from your mistakes, chalk them up to experience and find the opportunity even where you feel there isn't any.

What are your tips for staying focused on your goals?  Leave us a comment and share your thoughts.

Make Business Work for You

The New Year brings with it reflections on the last 12 months and visions for how we want this year to be, in our personal lives and in our work.  It's no different for us at Spring, we already used the quieter December period to analyse 2010, our successes and areas we still have ambitions for. 

It's easy to focus on all those areas you wish you had gotten round to working on, the missed opportunities or the things that just didn't work out as planned.  This is all important learning, but the successes, the challenges of 2012 are even more important as areas you can make an impact on.

Areas you could look to analyse:

• What did you spend most of your time doing and did it earn you money?  Take a look at the income you've received from different customers compared to your inputs.  Are these the right customers for you? If not, how could you change what you offer to these clients to allow you to focus on work that earns you more?
• Take a look at your income and expenditure and critically examine areas for reduction or to increase.  For example, if travel costs area a large percentage of your overheads, could you make more efforts to buy train tickets in advance, travel by bus using a travelcard or walk more if time allows? Are you spending enough in certain areas, for example marketing is often an area cut when recession hits.  But are you allocating enough costs to bring in the customers, or indeed spending it in the right ways?
• Check our list of 5 things to do today
• Look back at the activities of your business that you most enjoyed. Are you doing enough of the good stuff? Or are you overwhelmed with the tasks that you find dull? Can you farm out some of this work to others, leaving you free to find more customers, look at your finances or create the products and services you love so much? Virtual Assistants offer a service which does just that, and you can pay on an hourly or 1/2 day rate, working alongside someone who knows your business and is may be better than you at organising, bookeeping or answering calls.

By analysing and constantly improving your business you'll have a greater chance of keeping ahead of the competition and keeping your business on track.

3 Questions We're Often Asked

1. How can I get more customers?
   
   Analyse your existing customers. How much do you charge? Is there potential for more income from existing customers? Look at the types of products / services bought - is this something others want? Often businesses only need a few more customers to be more profitable, so focus on the 2 or 3 customers you want. 
   
   For example, last year Kash and I wrote a list of our ideal 10 customers, then set about getting their custom.  It's a much more attainable approach that marketing to anyone interested in our services.  We're pleased to report this approach worked.  Who's on your list of ideal customers?
2. How can I make more money?
   
   Look at your cashflow in detail.  Are there any costs you can reduce or cut out altogether?  Overheads and materials are common areas that can be reduced.  Look at your pricing - does it cover all your bills?  Are you under pricing? This is a common issue with startups, who sometimes even forget to include their own time in their cost.  Look at your competitors and check your prices against them. 
   
   If you need to raise your prices, consider how you will do this very carefully.  2011 brings an increased VAT rate at 20% so this could be a good time, for smaller businesses working with individuals you will need to be more careful as consumers are facing higher prices and reduced income.
3. How can I keep my customers happy?
   
   Delight them! Give them extra service, pay attention to their needs, consider their interaction with your business throughout the process and tailor your business accordingly.
   
   Think about what you do that currently works and continue to improve it.  Ask your customers what more you can do for them and deliver on time and on budget every time.
   
   

 

Photo Credit: Library of Congress

This week we were lucky enough to spend more time with people in that exciting, but daunting stage of thinking about starting their own business.   

Ideas vary but people share similarities - a good idea, an aspiration to be proud of something they've achieved, wanting to give back to the community.  Often their ideas come from skills they already have and want to turn the skill into something that gives them more independence.

It's this passion, dream and the aspirations that can be so rewarding to work with.  For the potential new business startups it can be difficult to keep a tight hold of these dreams when times get tough.  Running a business can be hard work with long hours, missing out on experiences or socials, keeping yourself going when you have a bad day / week / month and balancing the needs of the business with your friends and family.

Keeping the reasons you started a business in the first place at the forefront of your mind can help you make all-important decisions such as should you accept work or politely decline if it takes you away from the reason you started in the first place? Being fulfilled in your business is critical, if you're in it for the long run.

 

Standing Out in a Crowd

One of the most difficult aspects of running your own business is making sure you stand out from the crowd.

Sure, you have great customer service. Yes, we love your branding. But doesn't the guy next door do just the same?

There's just no use having six identical ice cream vans parked next to each other.  How do you choose which to visit? The one nearest you? The one in middle, in the vague hope they might not have sold out of your favourite ice cream flavour?

Businesses need to be distinct, so we the customer can have an easier time deciding who to buy from.  Price always seems like an easy one - just make sure you're cheaper than the guy next door.  But what if he drops his price, too?  Can you afford to go lower?

Instead, put yourself in your customers' shoes. What would they prefer you to excel in? Customer service? Speed of service? Choice of stock? Unique items only you sell? If the ice cream van was the only one to sell Cornish ice cream wouldn't you go there first (I'm assuming he sticks a whopping great sign on the van telling you so)? Make sure you do your market research.

Next, shout about it, from the rooftops if need be.  Tell everyone you sell Cornish ice cream made from English cows, using a traditional family receipe.  Tell them it's the best ice creams Cornwall has, in fact, it's won prizes for it.  Who can resist?

Whether you're opening a cafe, or selling products online the same basic principle applies. We want to know why you're special, then you just might have yourself a sale.

What makes you buy from businesses? Thoughts welcome.

Beginners Guide to Market Research for Startups

There are many things we all try to avoid and in the startup world it's no different. There is a clear look of apprehension on people's faces where market research is concerned, but there really needn't be. Recently a few people have asked me about this area, because the idea of asking people questions horrifies them or they

Research is all about finding out what customers want. That's it, just what they want. What they want to pay, what they want to buy, what they want to see improved.  For any business to be successful you need to know these simple things because otherwise you might buy products no one wants or you might sell them at the wrong price.

The most important market reserach is done with customers, because no matter what the statistics say, the size of your market just isn't that important if no one wants what you're offering.

So let's start at the beginning.  Please bear in mind you can make this as complex as you like, I'm just keeping it easy for everyone to understand.

What questions do you need answers to?

What does your business need to know?  This could be, will you have mainly female or male customers?  Where else do they shop? If it's a business, what do they currently pay for what you offer?  What are the main things influencing their purchase?  

Write out your questions and try to use tick-box answers so it's easier and quicker to answer. Be really clear and get someone to check for any errors.

How will you implement the research?

Talk to your customers directly and ask them to answer a few simple questions, try an online survey software like www.surveymonkey.com Ask as many people as you can, from different age groups, different genders, living/working/shopping in different locations.  If you need to ask businesses this is more tough - perhaps have an incentive or go through an organisation like the Chamber of Commerce.  Can you ring potential customers for 5 minutes of their time (prepare yourself for a few knock-backs)?

What next?

Collate all your research together and see what findings you have. Be really open minded about the results and look at your business from your customers viewpoint.  What are they telling you they want?  How will you provide it?  How will you be different from your competitors?  If they can already easily and cheaply get what they want, is this is the right business to be in?

What else could you do to talk to your customers and get under their skin?

5 Things to Do Today

Keeping focused should be first on my list.  Let's be honest, how many of us start to stray... thinking about the washing that needs doing, the agenda for the week, and if you have children the many events and activities you need to get them ready for?

This list isn't attempting to be a 'catch all' but it's 5 things I need to do this week, perhaps some of them might help you, perhaps not, but I'm putting it out there for you to consider:

1. Be more active in the social media world
   
   • Write on other people's blogs, update this blog (!), answer questions on forums, consider any new social media I might want to try. 
   • The aim of this is to improve our social media rankings leading to more customers getting to know us, hopefully liking us and ultimately starting to work in partnership with us. 
   • Today I'm going to comment on at least 5 blogs - well, it's a start anyway!
2. Get our finances up to date
   
   • Yes, there are a few invoices I am waiting to send off (error #1) and I need to keep track of any outstanding ones.  We've just started our new financial year so really need to get started on the best footing!
3. Spring clean our folders
   
   • Seriously, I need to get things in order, both online and offline. Or is that just me?
   • I want to be able to find things more quickly, rather than scrabbling through piles of paper, so it's just got to be done.
4. Make appointments for coffee with interesting people
   
   • Gone are the days when we just chase money.  We want to work with interesting and challenging people and organisations.
   • This year we started off by making a list of 10 people we want to work with - next step is calling the remainder up and meeting for coffee.  Perhaps there are things we can do together, perhaps not, but coffee is always a good start.
5. Sit back and relax
   
   • If you work hard, I firmly believe that people will come to you.  Do the best job you possibly can and your customers or partners will recommend you. It really is a small world y'know.

What do you think?  Does this list strike any chords with you at all, or are your aims for today, this week or this month totally different?

Getting Event Management Right

Organising an event for businesses = simple, right? What can go wrong?

Suprisingly, it's not as easy as it seems, largely due to often differing expectations between the customer (the business) and the organiser or people funding the event, such as business support agencies.  Businesses want events which are professionally managed and which result in specific goals being achieved - perhaps meeting possible new customers / collaborators or learning new skills.  Ultimately an event which they can prove positively impacts their business.

Unfortunately we've all been to events which just don't achieve this.  You can leave an event feeling 'what a waste of time!', often sinply because too much has been packed into the agenda for your brain to cope with or you expected something from the event that didn't materialise.

Some top tips:

1. Agree the aims of the event in advance.  Make it a clear goal, which both parties understand (the organiser and the people funding the event).  The content of the event must stem from this main aim e.g. marketing a new funding scheme or increasing people's skills.  Make sure the event achieves this main aim.

2.  KISS - keep it simple, stupid.  Don't pack too much into an event, especially powerpoint presentations, because attendees will easily get tuned out.  Aim for a depth of content, rather than too many speakers.

3.  The agenda - leave plenty of time in the day for informal networking e.g. over a break part way through the event.  By that time, people will have plenty to talk about from the day to break the ice.

4. Marketing the event - make it clear what information people will learn from the event and who is your ideal attendee.  There's nothing worse than having stacks of delegates which hit your targets but the vast majority feel that they've wasted their time.  Keep your customer's needs in mind.

5.  Learn from your event - keep your mind open that you may need to change things either during or after the event.  

Have you attended an event which just didn't work for you? What would you have improved?

Getting Project Management Right

Today I thought I'd talk a bit about project management... because it's what we do!  As well as working with individual businesses to help their business succeed, we also work at a more strategic level, running projects and influencing stakeholders.

Have you ever seen a project fall apart?  I have and it's not a pleasant sight.  Often, the early tell-tale signs are ignored - no one's heard of the project, there's no plan, and no idea of where the project is heading.  But these warning signs are just the beginning, because if you don't start off a project on the right foot (whether your project is large or small, regeneration-related or business focused) there's very little chance you will achieve your objectives. 

You can apply this to a business project too, perhaps if you're implementing a new marketing strategy or taking on a new client. 

I'm proposing some key questions to ask yourself:

• What is the aim of the project?
• Are all they key people involved at a strategic level and do they agree with your aims?
• Have you got all the resources you need? (people and budget especially)
• Have you written a clear and comprehensive plan?
• What are the major and minor risks to the project and what contingencies can you put in place?
• When will you know the project has been completed satisfactorily?

I hope this list isn't contraversial, I think these are project basics.  Good project management isn't something you learn overnight, but it's a process, an artform in itself.  All these lists can be a touch dry, but great project management is an awful lot of fun too!  There's nothing like a plan coming together.

Sources of Sports Funding - Leicestershire

At our recent Bid Writing for Beginners workshops, there has been an interest in specific sports funding schemes, for organisations working with young people and communities across Derbyshire and Leicestershire.

North West Leicestershire District Council has its own comprehensive list of funding schemes, many of which will apply out of the area too.  There are also a couple of schemes which will apply to other projects and ideas for community work.

Some key tips for coming up with a killer idea for funding:

• Talk to the end users of your service.  What are the problems they are facing?  The project must solve a genuine problem, but occassionally we all make assumptions about our areas of work and it's good practice to continue to refer to the end users or customers of your service.
• Keep it simple. Over-complicated projects are difficult to manage and difficult to explain in funding applications.
• Write your explaination of your project in a long paragraph.  Then go back over it and re-write it until you can explain the project's purpose in one simple sentence that anyone can understand.
• Write a mini project plan.  Carefully plan the journey of the user step by step and think through any budgetary or other resources your ideas will have.  Are there any ways to reduce costs or make the project even better at this stage?

What else do you do to help you come up with a killer idea?