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Workers running businesses from home to beat the recession

More people working from home

Britain is reacting to the recession by starting up more small business and working from home, new sales figures have revealed.

Demand for home office equipment has jumped by over 200 per cent in the past year alone, says supermarket Sainsbury’s.

The move may be welcome news for Chancellor George Osborne who believes that the answer to the UK’s debt problem may lie in encouraging enterprise and commerce at a grass roots level.

“There’s no doubt that working from home is going to the future for thousands of workers all over Britain.”

The trend towards home working may also be good news for the environment, reducing the need for commuting and fewer car journeys.

Workers who have been made redundant are deciding to go it alone, using their knowledge and skills to form their own fledging companies rather than seeking employment elsewhere.

In addition, larger companies, seeking ways to reduce costs, are now actively encouraging more employees to work at home rather than occupying expensive office space.

A further push is coming from employees who see working from home as a much better way to create a life-work balance rather than facing the daily commute.

With the arrival of high-speed/low-cost broadband, ever increasing capabilitues of home computing and a growing trust and belief in web-based enterprises. It is now easier than ever to setup your own business on-line and it looks like this recession my change the face of our economy and British enterprise for good.

August 9th, 2010 | Tags: , , , | Category: General | One comment

From the outside in

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.

June 3rd, 2010 | Tags: , , , | Category: Business Planning | 4 comments - (Comments are closed)

A Weather Warning For Your Business

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

January 13th, 2010 | Tags: , , , | Category: Business Planning | Comments are closed

Happy New Year

All at Limeminds just want to wish our customers and readers a Happy New Year hope you and your business have a great 2010

January 2nd, 2010 | Category: General | One comment - (Comments are closed)

Is Your Business Ready For 2010

There is no doubt that 2009 has been a tough year for the economy and an even tougher year for small businesses. Reduced consumer spending, increased cost of borrowing, less credit available and political uncertainty have all contributed to making it a tough year for those in business.

2010 unfortunately looks to be just as tough if not worse as taxes look set to rise and credit still remains thin on the ground. Consumer confidence is low and as food prices start to increase, the reality of inflation will start to hurt people’s contracting wallets.

For some businesses however the year will be a bright one. Those firms who position themselves correctly by having a clear strategy, reduced cost base and a determined management team will do well as their competition struggle. History shows that those businesses who invest in tough economic times thrive and grow, often to become powerful companies in the stronger economic period which follows.

Investing in a company can come in many forms, it may represent an upgrade of IT systems or manufacturing equipment. It may mean recruiting some high-caliber personnel or investing in training to enhance your skill base. It can also mean investing in the goals and direction of your business through a strong, clear and focused plan of attack.

Any business with strong leadership and a clear goals always outperforms one without but often taking time to evaluate your position and future direction is the last thing on your mind when the day to day challenges consumer all your time. Help is at hand…

Limeminds are offering the best value investment you can make in your business through our recession busting Business Report E-Package where we will evaluate the health of your business and most importantly provide a clear strategy for 2010 and beyond. This fantastic offer is only £66.00 including VAT and is available until 31/01/2010.

The E-Package contains:

  • 5 Page Business Report – evaluating current sale and financial performance and provides a suggested plan for success in 2010. The report will highlight the strengths and weaknesses within your business, areas to make cost reductions and high growth opportunities you can utilize in 2010.
  • 2 months of free E-consultancy to help implement the plans in the Business Report
  • Future discounts on a range of our services and products

As an E-package you will not have any consultants spending weeks walking around your business which can often interfere with the day to day running. Information required to complete the report can be submitted when you want rather than needing to arrange meetings during your busy working day.

To access this package please email us at consultants@limeminds.com before 31/01/10, you will then be sent a business questionaire to complete and receive a call to discuss your current position. This package can also benefit those businesses in the pre-startup phase just as much as a business which has been in operation for 20 years.

December 14th, 2009 | Tags: , , | Category: Business Planning | Comments are closed

Why tenders coulds cost you more than you think

Putting a supply contract or service agreement out to tender is a popular process these days, with many private and public organisations utilising the tendering method. The reasons for this line in aspects of negotiation, which essentially a tender is part of.

For the reasons of simplicity this article will refer to the organisation who has put the contract out to tender as the Tender and the organisations who are applying to win the contract as the tendees.

The Tender gives themselves a number of advantages through the use of this process, two of which are the fact that Tendees see themselves in competition, a bad thing as competition oftens lures people to pay more or sell for less than either the true value or what they can afford. The Tendees mentality in a competitive environment is to win and at all costs.

The second major advantage is that this competition is directed at other Tendees and not at the actual party they should be negotiating with… The Tender. By deflecting the focus away from themselves the Tender can stoke the feeling of competition between Tendees even more. In fact an unscrupulousTender could feed the Tendees false or exgrated information… “Party A is significantly lower on price then yourselves in the first round, they are in pole position at the moment”… If the Tender went to both parties with this information they could stimulate un-required price drop on both sides.

If you don’t believe that rational business people allow the element of competition to drive them to irrational decisions that don’t make commercial sense just look at the results of the UK 3G network license tender. The headlines are as followed…

The British Treasurywanted to sell off licenses for the 3G network to the highest bidder, they set a number of ground rules for this process all of which where designed to prevent collusion and to stimulate an environment of competition between the telecoms company’s. The result was the sale of the licenses are levels far above the estimation of the either Government or the telecoms firms. So high in fact that it was fairly non-viable as a commercial deal once the numbers were crunched. The company’s involved where some of the largest in the UK with some extremely intelligent and competent managers, they simply became distracted and wrapped in the element of winning at all costs.

So if you find yourself in the process of being a Tendee try to focus on the following:

1> Work out your break points – what is the level which you can not sell below or pay more than.

2> What are your alternatives – Often there will be a cheaper/better alternative out there. Knowing these options willl also help you work out your break point.

3> Avoid being competitive – Remain objective, focus on your business not others. Always think does this make commercial sense. Ask someone else who is impartial before submitting your bid.

 

If you would like advise about a tender or negotiation please contact Limeminds via email consultants@limemind.com

November 4th, 2009 | Tags: , , | Category: General | Comments are closed
 
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