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Top tips

Published by Business Link on 20 August, 2009 in Top Tips • 0 Comments

To the future

Recent research suggests that despite the prospect of continuing tough times, business optimism about the future is improving. Why not turn optimism into forward-thinking business plans? Define where you want to be in 1, 3 or 5 years from now. Then ‘reverse-engineer’ your vision to identify the key steps required to get there.
Open-book accounting

An unconventional idea that managers should provide all employees with open access to company accounts, and teach them to better understand their company’s financial picture. The aim being to extend a feeling of ‘financial responsibility’ from senior managers to everyone in the organisation. Arguably this helps employees to see how their actions and decisions impact business profitability and success. Not proven business practice, but an approach to think about during these financially conscious times.
Think about you

The recession is placing big demands on everyone, often raising working hours and stress levels; both pressures which research says could be detrimental to personal health and well-being. And no, tough times are not over yet. But perhaps it’s time to think about you – which could mean taking steps to improve your work-life balance, or undergoing training to take on challenges more effectively. Give yourself some attention.
Data strategy

Have you thought about the kind of customer data you might need in the future? For example, collecting data on how customers hear about your business could guide your future marketing tactics. Forward-thinking helps to define future data needs, and allows you to begin gathering valuable customer data earlier rather than later.
Doing good

Is the recession leading us towards a new era in which consumers and new recruits will choose to engage only with ethical, environmentally and financially responsible companies? Some industry experts predict such a trend. If it happens, ethical businesses could gain a competitive advantage, and a marketing opportunity.  

Consumer rights

There are three key legal rights your customers have when they buy or hire goods from you. Do you and your sales people know what they are? If the answer is no, take a look at our Guide to the Sales of Goods Act.  

Contingency planning

The swine flu pandemic has reminded us of the need for business contingency and continuity plans in the event of absence of key people or damage to equipment or property. Read our guide to continuity planning.  

Online survey tools

Various web tools are available which allow you to conduct customer surveys or collect ongoing customer feedback, complaints or suggestions. The tools, which are often simple to use, range from free services to those with monthly usage fees.

More info – Download top tips

Flexible working

Published by Business Link on 20 August, 2009 in HR & People Development and Strategy & Operations • 0 Comments

Three factors have increased business interest in flexible working: employee demand, the recession, and the potential productivity benefits. Together these factors have made flexible working an amicable and efficient way to cut costs during the recession. Importantly, this trend could also benefit businesses in the long-term.

Research indicates that employees want flexible working, and importantly, that they may be prepared to pay the price for it. A survey from communications firm Avaya, which reflects the attitudes of more than 3,500 workers across Europe, found that 69 per cent of UK respondents would consider “some sort of reduction in their remuneration package in exchange for flexible working”, being on average prepared to sacrifice 11 per cent of its value. The survey also found that “85% of employees believe flexible working creates new jobs, keeps people in work and provides opportunities for them to get back into work”, and “67% believe flexible workers are happier and 51% think they are more productive”.

Another survey of workplace trends from the Confederation of British Industry and Harvey Nash, which received 704 responses from companies that collectively employ 3 million people, found that 45 per cent of employers have increased flexible working, and 24 per cent are considering increases. Further research from IRS Employment review found that from 80 firms surveyed “more than three-quarters of flexible working requests were granted at 75% of organisations”.

Andrew McGrath, commercial director at ntl:Telewest Business, said: “Companies under financial pressure can find it difficult to keep their staff motivated and loyal especially if wages and bonuses are frozen, but taking action to help them strike a better work-life balance can help remedy this.”

Putting aside the employee perspective and current financial pressures, is flexible working actually good for long-term business productivity and success?

Employees would likely answer yes, arguing that an improved work-life balance creates a more motivated and productive workforce. As Avaya’s study finds, 59 per cent of respondents believe the key motivators for take up of flexible working are “increased productivity and the desire to keep talented workers with family commitments in work”.

This message might ring true. An article from the Chartered Institute of Personnel and Development says: “flexible working has a positive impact on employee performance and helps to reduce stress, new research has found. The study of seven major blue-chip companies, including Microsoft, KPMG and Centrica, found that flexible working had a positive impact on both the quantity and quality of work produced by employees”.

A further long-term benefit could be an employer’s ability to recruit talent. Predictions from HR experts cite flexible working and green credentials as key factors for attracting talent in the future. Because of increasing employee demand, and the obvious benefits, flexible working options may one day be a business imperative.

More info

Types of flexible working

Meet the need for work-life balance

Business impact of flexible working

Accessibility

Published by Business Link on 20 August, 2009 in IT & eBusiness • 0 Comments

What the law requires

 
The Disability Discrimination Act, which applies to all companies, states that small to medium sized businesses must make ‘reasonable adjustments’ to avoid discriminating against disabled customers and employees.

When deciding what constitutes a ‘reasonable adjustment’, the Department for Work and Pensions suggests considering: the type of business, its size and annual turnover; the cost of an adjustment; disruption while the adjustment is carried out; practicality of the adjustment; and the potential resulting benefits to disabled customers or employees.

The law is framed in this way so that businesses are not forced to make unreasonable changes. Ultimately, failure to make reasonable adjustments could result in legal action by disabled individuals who feel unfairly treated. In essence, the law requires you to be fair and do what is reasonable.

 

Why it’s important

 Disabled customers who feel unfairly treated may not choose to take legal action, but they are unlikely to interact with your business again. Being unfair to a customer usually means losing a customer, so taking steps to provide access for all makes good business sense, and of course – it’s the right thing to do. An estimated 17 per cent of UK citizens have a disability, so it’s important to accommodate this sizeable customer group.

 

The sort of things you can do

 Create accessible information… Use clear text and contrasting text and background colours; Be prepared to provide alternative versions of printed materials, such as braille, large print or audio; Have accessible telephone options such as textphone or typetalk; Audit your website and if necessary make it more accessible.

Ensure accessible premises… Fit a ramp or lift if you have steps or steep slopes; Install a bell or buzzer at entrances for customers to request assistance; Install visual as well as audible alarms; Ensure door handles are easy to reach and grip; Document the needs of regular visitors to provide correct assistance in the future.

Customer service… Offer an accessibility statement outlining what assistance you can offer; Train staff to give appropriate assistance, such as help for a wheelchair user, or reading aloud to a visually impaired person.

Employing people… Create flexible working arrangements, and accommodate the needs of disabled workers; Be prepared to provide job application forms in alternative formats; Hold interviews in accessible premises.

There are many other ‘reasonable’ steps you can take, some of which may be specific to certain industries. Seek expert guidance or conduct an accessibility audit if you are unsure about your specific obligations.

Read – Best practice in web design

Co-creation

Published by Business Link on 20 August, 2009 in Creative • 0 Comments

Henry Ford once said that his customers could buy a Model T motor car in any colour they wanted, so long as it was black. Such thinking emerges from a view that company, not customer, knows best. Skip forward to today and you can design a pair of trainers with a myriad of colour combinations and design features. Such user-empowerment turns Ford’s attitude on its head and places the customer firmly in control.

Cooperating with customers has indeed become more popular. trendwatching.com describes the trend as “the phenomenon of corporations creating goods, services and experiences in close cooperation with experienced and creative consumers”. And CK Prahalad – who according to global ranking Thinkers 50 is “the most influential living business thinker in the world” – says that when creating products, services and experiences “we need two joint problem solvers, not one”. He calls this “important idea” the process of “co-creation”.

Broadly speaking, co-creation has two sides. First is the collaboration between company and customers in the product or service design process. Second is the opportunity to provide ways for customers to personalise products or services in order to satisfy their unique wants and needs. Both these processes have benefited from new technologies; the former thanks to ever-increasing ways to communicate with customers, the latter thanks to technologies which allow for personalisation of products or services.

An example of co-creation in product design is Lego, a company which has co-created products through close cooperation with customers. The NHS is also working with customers to build co-created services which satisfy customer needs and offer improved experiences. In terms of product personalisation the Adidas customisable trainer example reflects the use of modern web and production technologies. And finally, a well-known example of service personalisation is iGoogle, which offers a highly customisable user experience.

Companies have of course been collaborating with customers for years, through marketing approaches such as research or focus groups. But today the scope for engaging in dialogue has widened. For example, numerous companies, such as the company behind the popular video game Call of Duty, are using Twitter to obtain suggestions and product insights which can immediately guide development. And countless other companies regularly tap into user communities or social networks for ideas, inspiration and feedback. The immediacy of response, compared with traditional routes such as research or focus groups, is one big bonus of such methods.

Putting aside modern trends, it is important not to forget the traditional benefits of cooperation for smaller businesses with intimate relationships with customers. Their proximity to customers means that, with or without the use of new technologies, such businesses can continually gain rich customer insights to help create innovative new offerings. For example, service companies such as marketing agencies or web designers are well-placed to collaborate closely to co-create services which meet the unique needs of individual customers.

Of course, Henry Ford’s flippant quote does help to make an important point; sometimes the company, not the customer, knows best. Communication, cooperation and co-creation are all becoming easier, but this does not mean that the customer should always have the final word. While a company should use available tools to gain customer insights, they must ultimately use good judgement to decide what is best.

 More info – Develop product and services guide

The power of PR

Published by Business Link on 20 August, 2009 in Starting Up • 0 Comments

Industry experts say that PR is all about reputation. This makes PR an essential and invaluable tool for new businesses. If your business needs to create or build a reputation, your business needs PR.

The Public Relations Consultants Association adds that: “It’s the result of what you do, what you say, and what others say about you. It’s used to gain trust and understanding between an organisation and its various publics – whether that’s employees, customers, investors, the local community – or all of those stakeholder groups”.

PR employs various approaches, from the distribution of information and news to media outlets such as newspapers, radio or TV, to speaking at live events, or engaging with local communities. Increasingly the web is part of PR too; businesses are beginning to engage with new media such as blogs and social networks.

You can build a reputation through advertising, but PR offers additional benefits. For one thing PR can be cost-effective. You don’t pay for PR exposure, so if you can minimise your expenses there are great returns at minimal cost. And importantly, PR offers an air of credibility that advertising cannot match. What’s better: a paid advert, or newspaper exposure published for no other reason than an editor wanted to tell your story? You can’t buy this kind of credible exposure.
Traditional media – newspaper, radio, TV

Getting into the news could be easier than you think. One tip is to start with local media such as regional newspapers, radio or TV. A quick scan of recent local news finds stories about a cake shop, charity, golf-club, and startup web designer. So businesses of any size or type can make the news. As an esteemed local editor once told us: “every business has a story to tell”.

Last year we asked local newspaper editors for tips on getting into the news. Here’s what they said:

Be interesting. Make your news compelling and of public interest. Familiarise yourself with the types of stories your local media covers (one topical example is news of businesses ‘bucking the trend’ of the recession). Above all, avoid ‘spinning’ uninteresting news.

Keep it simple. The editors we spoke to requested clear and concise press releases. Ensure key messages are included early on. Not all submissions are used, so keeping things short also avoids wasting time if your story goes nowhere. In addition to simple copy, consider how photos could bring your story to life.

Do it yourself. You can use a PR agency, but why not do it yourself? Look for good stories and tell them well. Send them to the right people, many of whom are available via email, phone or web (the editors we spoke to preferred email). Try to build ongoing relationships with contacts, but don’t contact them too frequently.
New media – blogs, podcasts, discussion forums, social networks

The internet has created new channels through which you can engage with audiences. These channels also allow audiences to talk amongst themselves. Such services include blogs, podcasts, forums and social networks.

New media channels can provide exposure to large audiences, and interestingly, to specialist or niche groups. Online you can find cake-making blogs, golfing news sites, web design forums, and all sorts in-between. Including such sites in your PR contact book could offer more value than traditional media in terms of getting your news to targeted audiences. And when it comes to new media it’s not just about what site editors are saying; getting involved in direct dialogue with users themselves can also help to build your reputation.

Participating in social networks such as MySpace, Facebook and Twitter are further ways to both disseminate information and engage in dialogue with audiences. For example, Facebook Pages allows companies to add company and product pages with useful news and information, and engage in direct discussions with users.
Getting started

So how can you get started? Firstly, remember that PR is about building a reputation. And second, remember that PR is about spotting a good story about your business, and then telling it well.

Look for interesting and relevant things to say to audiences, which includes customers but also employees, investors or the local community. While you are at it keep an eye out for available outlets, from both traditional and new media; and don’t forget activities such as business, consumer or community events.

Once you have something interesting to say and some places to say it, focus on saying it clearly and concisely with a good amount of enthusiasm. Create press releases for traditional media, but think about how these could be adapted for new media or live events, which may require a more sociable approach.

Finally, don’t be disheartened if your news is not picked up at first. Keep looking for those interesting stories and keep telling them well. In time both your PR success and your business reputation will begin to improve.

More info :

Read – PR the basics guide

Read - The non media PR