The acceleration and rapid growth of technology-driven enterprises has sparked interest from a range of investor groups, who clearly see the potential in the sector despite the Brexit blues and ongoing negotiations about Britain’s position following the divorce from the EU.
People often talk about ‘margin’, which is the gross profit. The issue is, too many people think they have a margin of 85% (for example), and they don’t focus on what makes that margin up.
Growth is in the very DNA of entrepreneurs and their businesses. Once you’ve gone through the initial steps of setting up your company, establishing a customer base and experiencing success, you start planning for additional growth.
When you take on an inherently traditional and somewhat ‘old school’ market place like Asian food, it’s not without facing a number of interesting challenges along the way.
In this world of entrepreneurship, all they care about and all you should care about is giving value on top of value. Of course, this isn’t easy. No on starts out knowing everything and no one can resolve your fear of taking the leap.
While some larger enterprises can afford to hire a full-time cost manager, for SMEs and start-ups the burden is on the management and the team to assess the way money is spent and to find savings.
Think you have an idea which will take the world by storm? Do you spend your commute fantasising about being your own boss and building a business empire based on a niggling idea which just won’t go away?
There are plenty of universities, colleges, and professional bodies that offer short courses as they give you the chance to rapidly update and adapt your skillset.
The importance of the role that SMEs play in ensuring a healthy UK economy is beyond doubt. Statistics from the Federation of Small Businesses show that small businesses account for 99.3% of all private sector businesses at the start of 2016 and 60% of all private sector employment.
There is also now lots of help out there, particularly from experts who are keen to offer their time as mentors. One initiative we’re both familiar with that combines the important components of entrepreneurship and mentoring is The Prince’s Trust’s newest mentoring initiative, Mosaic, which runs fantastic mentoring programmes.
Finding clients can be one of the hardest challenges for any business, and it’s certainly an issue for many small businesses. Here are a couple of approaches you can use to help you find those precious clients.
If your business so far has only consisted of you, hiring your first employee can be a daunting task and many start-ups worry about covering themselves legally.
You may have created a section for your blog some time ago now, but have you started using it? Knowing what to blog about is one of the biggest issues for small businesses, because sometimes it can be a bit tricky, especially if it is new territory.
The psychology of colour may impact behaviour and purchasing decisions. This relationship is not yet fully understood, but it's believed to explain why some customers are willing to invest their money or time.
Fundamentally, that is the idea of Pay-per-click. In PPC, the sponsor will pay Google each time a guest click on their advert, and it takes them to the advertiser's website.
But, if my personal experience is anything to go by, some teens just aren’t ever going to do well in formal exams, and it’s important to reassure these kids that you can still be successful, happy and rich without a row of A* results in your GCSEs.
Entrepreneurship for most of us is having the ability to live and work as flexible as we want to. Most of us think, if I can just get it right, find the right idea and launch it, things would be easier and I could finally live the dream.
Search engine optimisation gives your blog and website much needed visibility online. This is all done by pulling on the keywords your readers and potential customers use to search for you online.
