Those moments can [...]]]> Have you ever had that moment where you have be awoken to another persons perspective that previously you had never seen? In that moment you had realised you had be wrong all along, not fundamentally wrong, you just didn’t have the whole picture, perhaps you had been too close to see everything.

Those moments can come in all aspects of life and often then can feel a little painful. Sometimes we can be resistant to changing our opinion and the process can be slow. When we run with the wrong idea or half a picture the cost in business can be high. In fact not being able to step back and look at what’s really happening can be the fundamental reason why small firms stall and eventually fail.

Taking time to look at your business is vital, getting a second opinion or sounding your ideas against a trusted colleague can be the difference between being another small business stat and being a successful leader.

Who should you turn to, well obviously we would suggest an advisory firm such as LimeMinds but we also understand not every challenge you face will warrant the investment of a third party solution. It is vital however that you have a reliable network of friends, family, colleagues and other business owners. Their input can often cost nothing more the investment of time into the relationship but the return could be a vital insight or invaluable idea.

So the moral of this article? 1. Take time out of the day to day grind to really look at your business. 2. Build a trusted network of friends and advisors and 3. Keep Limeminds contact details close to hand.

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Whilst the [...]]]> The recent cold snap in the UK has ground many transport links to a halt, closed hundreds of schools and impacted the normal running of day to day life greatly. If economic times weren’t tough enough already this extended period of snow has delivered another blow to business and in particular small firms.

Whilst the full cost of the impact is to be fully calculated (as it’s still rising), the anecdotal evidence highlights a tough environment. Small businesses have felt the impact of workers unable to get into the office because of transport chaos, or issues with child care more so than some larger businesses.  A downturn in the volume of transactions due to customers staying in their homes during the poor conditions, or the difficulty of managing the supply chain due to transport issues have meant few companies have escaped.

Of course if your company imports and retail sledges and skis you might be seeing an unexpected boom. There is also a case for independent retailers and grocers seeing customer footfall increase as consumers ditch the car journey to the supermarket in favour of the 5 minute walk to the local shop.

What level of impact and exposure your business has to the weather conditions will of course vary greatly from others depending on the nature of your business, your communication infrastructure, your geography and that of your workforce.

Whilst it may now seem a little reactive and probably too late, now would be a good time to look at contingency plan for your business. This plan should look at issues such as the recent cold weather but also other problems such as postal strike, power failures or viral outbreaks such as Swine Flu. Now we’re not saying you should have a plan as detailed as a 1960′s government nuclear fallout strategy but it would be worth thinking about some of the following…

1. Supply Chain – do we have a back up if our 1st route to market is lost (ie: Royal Mail postal strike)?

2. Remote working – Are we capable of running our business if access to our premises is blocked and/or our workforce are unable to get here? – access to web-mail, cloud software. etc.

3. Do we have an alternative method of selling our products? Traditional retailers who can’t operate their store may be able to maintain some level of sales via an on-line operation.

4. Can our business operate on a workforce attendance less than 50%? What changes can we make to allow this?

5. What is our recover plan/options? If you can’t operate the business what levers can you pull to get back on track?

Limeminds recommends you take sometime to pull a 1 page document covering these areas and any others that may impact your business. Any areas you feel exposed in should be made a priority.

If you would like Limeminds to work with you to analyse the company’s position and provide a clear solution plan we can be contacted via consultants@limeminds.com

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Now the arrival of a severe economic downturn and un-relenting pressure [...]]]> Over the last 10/15 years the pressure on independent retailers has increased as the dominance of the supermarkets has expanded. The numbers of independent retailers are at an all time low and those who are surviving are finding profit margins squeezed more than ever.

Now the arrival of a severe economic downturn and un-relenting pressure on the high street, will independent retail survive?

Supermarkets have changed the retailing landscape for ever and the dominance of the big four is greater than ever – 1 in every £3 spent in retail is spent in Tescos. Price wars have eroded profit margins and independent stores just can’t compete with the stack em high, price em low mentality that the grocers are displaying.

Its been a painful trend for the small shopkeeper and it doesn’t look like improving much in the near future, so what can the independent retailer do to survive in this market?

1> Understand your role – What role does your shop play in the consumers routine? Are you mid-week top up? Weekend beers and snacks for a big night in? Tobacco and a  paper on the morning walk to work? Find out what the majority of your shoppers use you for and make sure you have the products and the layout to make the most of your consumer demographics.

2> Don’t go toe to toe with the supermarkets – If Somerfield down the road are hammering the price on beer and wine, don’t throw all your profit away by trying to compete head to head on price. Look for a point of difference, range, pack formats, service. Whatever you can make your USP use it.

3> Make the shopping experience a pleasant one – It might sound basic but the number of independent retailers who have dirty shelves, cluttered aisles or a confusing layouts is astounding. Today’s shopper expects high standards, don’t let your shop disappoint, and remember your personality and attention to your shoppers needs will make you stand out from the supermarkets – make the most of it.

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1> By the Minute – Hire LimeMinds to advise your business on online and offline marketing, analyse [...]]]> LimeMinds have now launched a new service for Small Businesses to help them create effective marketing plans. LimeMinds can how be put to work in developing a marketing strategy for your small  business in 3 ways:

1> By the Minute – Hire LimeMinds to advise your business on online and offline marketing, analyse your competition  and industry.

2> Create a Marketing plan or Strategy - LimeMinds can be hired to create your business an effective marketing plan.

> Act as your virtual Marketing Director - Many small businesses would benefit from having a dedicated marketing director or manager. LimeMinds virtual Marketing Director allows your business to access to have that resource.

For more details about these and other services click here.

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