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Growing in the Recession

Which direction ?

Running a successful business in a recession requires an appreciation of two distinct roles, managing the day to day operations and building for the future. Every business person needs to know the importance of both ‘hats’- and when they are wearing each one.

Some companies do well, both in good times and bad. They not only withstand the onslaught of economic recession, but they emerge stronger and fitter. Unsurprisingly, they also make the right choices when economies are growing.

HOW DO THEY DO IT?

 Irrespective of the state of the economy, companies which regularly beat the competition have an ingrained ability to do two conflicting things at the same time. They run the day job effectively and efficiently and they make the right choices on how to grow. These require different, conflicting management styles: relentless detailed operational control, as well as having an eye for the main opportunity. Being great at both things is essential to long-term managed success.

Without clear growth management, companies often end up doing the urgent and forgetting the important. This is most true in a recession, when the extra focus on cash drives aggressive cost control and revenue chasing. But while there is a major focus on running the day job, successful companies also know how to build for the future.

Retaining an eye for the opportunity in the good times is relatively easy; keeping it when it gets tough is vastly more difficult.

Successful companies operate with two ‘hats’. One hat – the operational hat- focuses on delivering immediate needs, driving revenues, costs and margins to meet cash and profit targets. The focus is on the known- we know what the market is, what customers want, what competitors offer. The other hat – the strategic hat– focuses on growth, driving long term sustainable business that predicts and responds to customer trends and opportunities. Here the management style tends to be openness and analysis of opportunities.

Critically, running the day job and delivering sustainable growth requires that both these different styles of capability and approach co-exist in the same organisation. In essence a succesful business must be able to wear these 2 hats comfortably.

The challenge comes when you are a small business and you are the sole owner/director and have the skills & aptitude of one of the ‘hats’ but not necessarily the other- this is when the input of a professional adviser is vital to help give you the perspective of the other ‘hat’.

 Would your business benefit from a Professional  business review? Then contact me at Award Winning Business Consultants, Janette Whitney & Associates ,jw@whitneyassocs.co.uk

 

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Is Your Website Legally Compliant?

 

 

Much press coverage has been seen regarding the amendments to the Companies Act which came into force at the beginning of 2007 relating to your website and emails and the risk of £1000 fines for not complying with disclosure of the required information.

 

This caught the attention of limited companies and limited liability partnerships as this new piece of legislation only applies to them. However, most business owners (over 50% according to the Dept.for Business, Enterprise & Regulatory Reform – formerly known as the D.T.I), do not realise that there at present 6 pieces of legislation which your website needs to comply with whatever form of business you trade under- , whether that is as a sole trader, partnership, Limited company, Limited liability partnership or franchise etc.

 

Which legislation affects your particular website will depend on what its pages contain, but the need to comply is vital as the fines and policing of internet operations are becoming more and more stringent, just in the same way that as a retailer with a high street premises you would have to comply with certain regulations – your website is your online shop window and the more complicated it is the more rules it needs to adhere to.

 

We have a quick and cost effective solution for you- our Website Compliance Check service.

 Our Website Compliance Check :

  •  Identifies which pieces of legislation your website needs to comply with
  • Provides the necessary legal wording directly to you via email 
  • Identifies general amendments required to your website to comply with the new legislation

 

To start your website compliance check  – simply fill out our easy form and we’ll return all amendments & legal documentation for you to upload onto your website, within 5 working days.

 

  Our service costs just £100– a small price to pay to keep the right side of the law.

 

 For more information or to start your website compliance check please contact me at Janette Whitney & Associates, Business Consultants email jw@whitneyassocs.co.uk   

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Follow Janette Whitney & Associates on Twitter

We are now on twitter – www.twitter.com/janettewhitney . Follow us and see what we have been up to.

 

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Thought for the day

“Advice is like snow. The softer it falls, the easier it’s absorbed, the deeper it sinks, and the longer it lasts.”JWA LOGO

Thought for the day

 
“Despite the cost of living, have you noticed how popular it is?”
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How successful are your phone calls?

 Sales Success!! 

Making important telephone calls as opposed to a face to face conversation can be difficult and sometimes more unnerving. You can’t assess the other person eyeball to eyeball, you can’t see their body language and facial expressions, all of which makes it more difficult for you to gauge the success or otherwise of what you are trying to achieve.

 

 So here are 5 tips to help increase the odds in your favour:

1.      Get off on the right foot and ask if it’s a convenient time to talk.

 How often have you been in an interview with someone, the phone rings and they stop to pick it up? Yes, it’s rude and disrespectful to you and yet it’s the caller who gets the sharp ‘YES?’, as if it’s their fault!

So to ensure you don’t unnecessarily start off a phone conversation on a poor note, ask if it’s a good time talk. Give them the chance to say no. At least you have shown some consideration by giving him the opportunity to continue or not.

2.      Immediately build rapport.

 

To start immediately building rapport greet the person by their name. You are less likely to do this during a face to face meeting, but it’s essential during a phone conversation.

3. Keep the rapport going.

 

Keep the rapport going, by liberally using their name during the call and use it more frequently than you would normally do. Use of someone’s name replaces that feeling of closeness which comes naturally during a face to face meeting.

4. Smile with your voice.

 

Most people come across as plain bored when speaking on the phone, which again is a reaction to the lack of physical contact. Make a conscious effort to sound bright and breezy.

5. Finally, draw to a natural conclusion

 

Some people find it hard to finish a phone call, not wanting to interrupt the other person in full flow. Always try to lead the close by agreeing the next action –‘I will call you next week to discuss this point….’ AND most importantly stand up when you say your concluding phrase, as this naturally changes the tone of your voice which signals the end of the call without having to make excuses to hang up.

 Try these ideas next time you have an important phone call to make and see your success rate soar. Let me know how you get on.- all comments welcome

 

For professional & impartial business advice contact  Janette Whitney & Associates, Business Consultants on 01403 733671.

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Welcome

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Hello and welcome to the Janette Whitney & Associates Blog.

In the course of helping hundreds of businesses we have gathered a number of excellent resources for companies looking to:

  • Plan and implement growth strategies
  • Increase sales & profits
  • Develop robust financial targets
  • Create greater efficiencies 
  • Manage their cashflow more effectively
  • Understand and plan an exit strategy
  • Raise finance

We are in the process of distilling some of this information into this blog for free use within your business. We can help to apply these strategies and manage the process to completion. Read more about us.

 

Contact us now for a free initial consultation on 01403 733671.  

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