Trust in the workplace is generally defined from the employee perspective. To employees, trust means that leaders listen and hear them, that the leader supports and values them and their work through tools from technology to downtime, and that the leader champions them. There is another aspect of trust in the workplace and that is the leader’s perspective. To leaders, trust means loyalty.
Regardless of the perspective, trust must be earned. It is hard in in person environment, and even more so in remote environment and for that reason, it is more important to build.
In the remote workplace, employees are assessing work and making decisions without the ability to pop into the next office or walk down the hall and ask a question. But the employee needs to know that this is okay, especially if an issue develops. Although if the environment is structured properly, that can and does happen. However, if there is not a foundation of trust between leaders and employees that sets these expectations, then leaders will not trust employees. If the employees do not believe that the leader trusts them, then there is a good chance the employee will not reach out for assistance because they don’t believe the leader or the organization has their back and respects them and their opinions.
The best way to build trust in remote teams is communication between team members including leaders. Setting the expectations that it is ok or even expect to reach out and ask questions, discuss issues, and bring problems forward. Teamwork should be the same whether in person or remote – always with faces present. This means turning on the cameras and participating.
Depending on the type of work, check ins among team members may need to occur daily, at the very least weekly. These should be scheduled at times that work for the entire team, not just the leader. Finally, suggestions, solutions, and concerns should be encouraged and openly discussed.
Having worked and led in both in person and remote situations, the leader often sets the tone through encouragement, respect, listening, and be open to discussion.
Choosing your second in command requires much more thought than many leaders realize. They are many factors to consider for you and your organization.
First and most important, what traits, skills, and abilities are you seeking in a second in command?
Do you want them to be a yin to your yang and compliment your skills? Or do you want someone who is similar to you in thoughts and actions. Sometimes leaders are drawn to people who are almost carbon copies of themselves. This is why the choice is so important.
You need someone you are comfortable with, with whom you can build trust, and who will strengthen your team and enhance the C suite. Many seconds in command fill the role of chief operating officer and handle the direct operations and engagement with the team. If that is what you are looking for, you need to be clear about lines of authority and how the relationship between you as Chief Executive and your COO will work not only for the selectee and the team, but for yourself as well.
And sometimes, the final decision is not yours to make, but you can influence it.
As a senior executive, I witnessed misalignment between a CEO and COO. It caused chaos and confusion within the organization and sometimes led lack of communication between the top two leaders – not an ideal situation. One leader felt overshadowed by the other. The fragile relationship broke leading to lack of trust, undermining of each other, and negative effects on the outcomes of the organization as well as employee morale and retention. For this reason, when I became a Chief Executive, I weighed the selection of my second in command very carefully.
I initially inherited my second in command and we had a good relationship on the surface. However, this person was easily swayed by others advice and inputs after a decision had been reached. Because of our existing relationship, we were able to discuss most of these situations and come to agreement. But it was known and caused concern in the organization. The person retired about 6 months after I became CEO. Although I did not have final decision on the selection, but I had significant influence, and I was asked to provide recommendations with a list of how the candidates would work with me and help lead the organization. I recommended a strong leader with skills that would both enhance and compliment my leadership style. My recommendations were followed.
My new second in command was fantastic. We worked together well and built trust. He served as my COO and he also understood that I was a very active and engaged CEO. Thus, we talked about our strategies, plans, and how we would roll out new initiatives from enhancing our website to direct employee engagement to improve morale and retention. Both internally and externally, we were seen as team in the C-suite. And the results? Improved employee morale and retention and increased outcomes.
Every organization from corporations to education to nonprofits and everything in between is about results and outcomes. But there is one vital resource that every organization must have to deliver these outcomes and results – employees aka people. Even with the best most current technology, people are necessary. Employees are not only an organization’s most valuable resource but also their most important asset.
Employees have experience, information, facts, data, metrics, history, usually much more than any leader realizes. And, these employees can often influence others’ perceptions.
When companies focus on profits over people and announce layoffs and restructuring, a message is sent to employees and customers. That message is that results are more important than people, that employees are just cogs in the wheel to deliver outcomes. This conventional leadership thinking has existed since the Industrial Revolution, and it must change.
In our current environment, this message is no longer well received. Questions and concerns arise around whether the leadership of the organization assessed the consequences and impact to their employees and families, their community, and their reputation. Employees and customers want to know if processes and procedures were studied to determine improvement in practices while retaining the knowledgeable talent of people.
When companies and organizations focus on profits and outcomes over employees, they break the trust with employees and customers alike. And what happens if the company rebounds and needs employees? Those experienced knowledgeable employees will likely not return and new employees will be hesitant because of the company’s actions. Trust and reputation are hard to rebuild
While innovation and streamlined processes and procedures can improve operations, experienced employees are pivotal. I experienced this as a chief executive. When I took over, the organization was at rock bottom – morale, results, trusts, and retention were all dropping deeper. The people of the organization were the key to transformation. Did we need innovation, streamlined processes and procedures, investment of tech and dollars? Yep. Did we have them? Not in the classic definition, but taping into the creativity, experience, and agility of the employees uncovered ideas that when implemented – delivered and improved results. Rather than laying off people, we were so successful, I had to hire 200 more!
People want and need to matter, and they want to work for and support organizations that treat people like human beings. When you do so, you may find the only restructure you need is how to hire more people quicker.
By Besnik Vrellaku, CEO and founder behind Salesflow.io
Growing a business and driving revenue can often feel like navigating a maze. However, with the right marketing strategies in place, it’s possible to achieve extraordinary revenue growth.
Besnik Vrellaku, founder ofSalesflow.io, explores how he strategically leveraged key marketing tactics for his business, on how to add an additional £1 million in revenue, and the insights that guided these decisions.
1. Experimenting with Data-Driven Marketing
Effective marketing begins with understanding your audience on a highly detailed level. Diving deep into data analytics is the foundation for a successful strategy. By leveraging tools like Google Analytics and HubSpot, Salesflow.io was able to gather invaluable insights into customer behaviour, preferences, and trends.
This data-driven approach enabled the marketing team to segment the audience accurately and craft campaigns that resonated with specific customer needs. The result? Increased customer engagement and a more efficient allocation of marketing resources, focusing efforts on the most profitable customer segments and channels.
Why this strategy? Data-driven marketing allows businesses to be precise and intentional with their efforts, reducing waste and increasing ROI. By understanding exactly what drives customer behaviour, we were able to tailor marketing efforts, ensuring maximum impact.
2. Supercharging Lead Generation with Advanced Tools
Lead generation is the lifeblood of any growth-oriented business, and it’s what Salesflow.io offers to customers. Recognising this, as a company we made sure our own lead generation strategy was on point, using advanced tools, particularly on platforms like LinkedIn and through email marketing.
Email marketing and LinkedIn were identified as high-ROI channels, offering a direct line to potential customers. The strategy centered on sending targeted, personalised messages that nurtured leads, promoted products, and encouraged repeat purchases. By automating these processes, we ensured timely and relevant interactions with potential clients, enhancing both efficiency and effectiveness.
Why this strategy: The choice of advanced lead generation tools stemmed from a core business need – to scale efficiently. By focusing on platforms that offer the highest return, we could connect with potential clients where they were most active, ensuring a consistent pipeline of quality leads.
Key metrics tracked:
Lead Conversion Rate: Ensuring a high percentage of leads became paying customers.
Cost Per Lead (CPL): Maintaining a low CPL while securing high-quality leads was essential for sustainable growth.
LinkedIn Response Rates: Focusing on driving a positive response rate to increase engagement and open new business opportunities.
3. Expanding Digital Advertising Reach
In today’s digital landscape, advertising is a powerhouse for growth. At Salesflow.io we invested strategically in digital advertising on platforms like Google Ads and social media networks, which provided the company with a scalable way to reach a broader audience.
Pay-per-click (PPC) advertising was a focal point, allowing for precise targeting based on keywords, demographics, and behaviours. This approach was fine-tuned by employing robust PPC models. Using the right key indicators and factors to build PPC models amplifies the momentum of paid acquisition. It would give predictability, improve ad cost efficiency and boost user acquisition, ultimately scaling the customer base to translate into revenue.
Why this strategy? Digital advertising offers unmatched reach and precision. For Salesflow.io, it was about building a predictable and scalable customer acquisition engine. By optimising ad spend and targeting, the company was able to drive substantial revenue growth.
Key metrics tracked:
Return on Ad Spend (ROAS): Aiming for a minimum ROAS of 4:1 ensured that every pound spent on advertising delivered strong returns.
Click-Through Rate (CTR) and Conversion Rate: These metrics were crucial for assessing the effectiveness of ad creatives and landing pages.
4. Fine-Tuning Pricing Strategies for Maximum Impact
Focusing on refining business pricing strategy is also crucial for boosting revenue. By implementing value-based pricing and introducing tiered options, Salesflow.io was able to cater to different customer segments, increasing revenue without necessarily increasing sales volume.
Why this strategy? Pricing is a powerful tool that can significantly impact a company’s bottom line. By understanding customer price sensitivity and optimising pricing models, Salesflow.io was able to capture more value from each transaction, driving revenue growth.
Key metrics tracked:
Price Elasticity: To set optimal pricing that maximises revenue without deterring customers.
Revenue Per User (RPU): A focus on increasing RPU had a direct and significant impact on overall revenue.
5. Enhancing the Customer Experience for Long-Term Loyalty
A strong customer experience is also crucial for a successful strategy. By prioritising customer satisfaction and investing in user experience, a business can foster loyalty, leading to repeat purchases and positive word-of-mouth – a marketing strategy that’s both cost-effective and powerful.
Why this strategy? A culture-first approach to leadership meant that Salesflow.io placed a premium on customer satisfaction and team alignment. Happy customers and a motivated team lead to better service, higher retention rates, and ultimately, more referrals and repeat business.
Key metrics tracked:
Customer Satisfaction Score (CSAT) and Net Promoter Score (NPS): High scores were indicators of strong customer loyalty and advocacy.
Customer Retention and Repeat Purchase Rates: Critical for ensuring sustained revenue growth.
From Serial Entrepreneur to Scaling Success
Besnik Vrellaku’s journey to success has been marked by numerous ventures, all with the common goal of helping businesses scale. Besnik’s extensive experience in navigating the challenges of business growth has equipped him with the insights needed to drive substantial results by understanding the nuances of scaling a business, identifying the most impactful strategies, and executing them flawlessly.
At the core of Besnik’s approach is a “culture-first” leadership style. By fostering a positive, collaborative environment, he has created a company culture that prioritises both employee well-being and customer satisfaction. This focus on culture has not only led to a more engaged team but also to a more loyal customer base.
Key Takeaway: A strong company culture isn’t just about making employees happy – it’s about creating a foundation for sustainable growth. When employees feel valued and aligned with the company’s mission, they are more likely to deliver exceptional service, leading to higher customer satisfaction and ultimately driving business success.
You’ve got a killer idea and the beginnings of a potentially successful business, but without the right planning and strategy in place, do you have what you need to grow your budding startup into a fully-fledged scaleup?
As an entrepreneur, the right strategy can make or break your business, and even the best idea can quickly flounder and stagnant if executed with poor planning.
With so few certainties in the current economic and business landscape, the right strategy can be the difference between capitalising on a new opportunity and successfully responding to shifting market conditions, or desperately playing catch-up.
So, what are the key elements you should consider when developing a business strategy with the best chance of success?
Define your purpose
This is an obvious one, but a surprising number of entrepreneurs launch head-first into a new venture without taking the time to fully flesh out the problem they are trying to solve and why their product or service should be the natural choice.
Defining your ‘why’ should be the crucial element underpinning your entire business strategy. Without this why, effectively positioning your business to target the right audiences and developing strategies to both acquire and retain customers becomes an uphill struggle.
A clearly defined purpose informs your entire approach to the business, making it easier to build your brand, retain both customers and employees, and create value further down the line.
Pricing that pays
All too often, otherwise promising businesses stagnant due to a lack of capital needed to grow. A strategy for scaling the business is great – but without a pricing model that keeps your cashflow in the black, it’s next to useless.
It’s tempting to think that undercutting your competition by offering the lowest price possible is a failsafe way of attracting large numbers of customers. While this certainly might be the case in the short-term, in the long-term, you might actually be starving your business of the vital funding it needs to grow.
It’s essential that your pricing model reflects not only your current overheads but also provides enough financial wiggle room to respond to new opportunities and increased demand. A strategy that focuses on providing value to customers that your cheaper competition cannot is key to adopting a sustainable pricing model.
Create customer value
Defining your purpose and pricing is only half the battle. Your strategy should be translating that purpose and justifying your pricing through a relentless focus on how you are delivering value to your customers.
While your product or service may be best-in-class, if you fail to plan for investment into customer service or improved purchasing experiences, customers will inevitably find it elsewhere.
For cash-strapped startups who lack the resources to launch large-scale marketing campaigns or invest in a dedicated customer experience team, creating and leveraging the community around your brand can be a cost-effective way to boost your brand recognition while delivering real value to your audience.
Marketing matters
Marketing is often an afterthought when launching a new business, but why this should be the case is puzzling when you consider how crucial marketing is for communicating your brand and purpose to your target audience. Without a strategy for how you will market yourself, your ability to generate leads and sales and grow your visibility on the market is going to be severely hampered.
You don’t have to break the bank to begin leveraging marketing channels, with social media platforms and pay-per-click advertising offering cost-effective ways to market on a budget, but you do need a strategy in place. Getting clear on the metrics you will use to measure how these activities are performing, and establishing relevant KPIs to track success and return on investment are both essential for building a marketing strategy that supports your wider business goals.
Final thoughts
With a flawed business model cited as the fourth most common reason startups fail, getting your strategy right early on could be the difference between your company becoming a footnote, or the next major player.
Agility and the ability to effectively respond to rapid changes are hallmarks of successful entrepreneurs, but this is only possible when your business fundamentals are taken care of.
The workplace has changed over recent years more than it has done since the industrial revolution, so we are most definitely due an update. Remote and hybrid working is now the norm since the pandemic. Multi generations in the workplace have never been so diverse to manage and the younger generations such as Gen Z are constantly disparaged about being too ‘precious’ just because their needs and aspirations are different to others. And let’s not forget the biggest game changer of all in the workplace, the introduction of AI.
This is a lot for business leaders to grapple with but understanding and managing this changing landscape is essential for business growth and attracting and retaining talent. These colossal changes do not warrant minor edits to your policies and strategy but call for a complete re-write.
Remote, Hybrid and Flexible Working
Many business leaders are enforcing ‘return to the office’ (RTO) mandates but despite companies trying to allure them into the office with various benefits they won’t be bribed because they are determined to keep remote and hybrid working. A recent study from BambooHR’s 2024 Return to Work report shows that 90% of employees want remote and hybrid work for flexibility and a better work/life balance with 51% of remote workers saying it helps them with family duties and 74% of respondents enjoy not commuting daily.
Business leaders need to understand that a ‘one size fits all’ model does not work with today’s diverse workforce of multi generations with different needs.
Leaders have struggled over the past few years with the shift of power moving from employers to employees and are trying to reclaim it. But by enforcing RTO and tracking employee’s office attendance and monitoring them too closely you are creating a micro-managed ‘Big Brother’ culture driving down trust, respect and taking away any autonomy and flexibility.
ManagingMulti Generations
Today there are a multitude of generations in the workplace from baby boomers, Gen X, Millennials and Gen Z. As mentioned, the younger generation always seem to get bad press but what we must acknowledge is that this generation grew up with the digital age and in a different world so it’s no surprise they have different needs and aspirations. Instead of disparaging them maybe we should learn from them, even better learn from each other. Research from LiveCareer revealed that 87% agreed they could learn from each other while 78% thought it led to conflict.
Millennials and particularly Gen Z have grown up in a world where mental health and well-being is freely talked about, and they wouldn’t hesitate to talk about it at work. Whereas a Baby Boomer would probably feel very awkward talking to their manager about mental health. Deloitte Digital reported that empathy was the second most important trait in a business leader while leaders placed it fifth. The Visier survey also revealed that 64% of Gen Z employees ranked good physical and mental health as a leading life ambition.
Gen Z prioritise spending time with family and friends and good health over career aspirations. They want to work for companies with good ethics and values they believe in. They have seen what the workaholic lifestyle does to people and burn out is not attractive. They are more self-aware and can talk about feelings, ethics and values, and what matters and that’s a good thing.
Incoming AI
Employees fear AI taking their jobs in the workplace and it’s not surprising when the Institute of Public Policy Research recently announced that AI will threaten up to 8 million workers in the UK. However, if we harness the power of AI now and understand it then we can use it to relieve workers from admin and mundane jobs focusing them on more rewarding, interesting, and high value positions.
Business leaders need to step up and understand how they are planning to use AI in their business and make employees feel at ease working with the technology instead of against it.
The Re-Write
The archaic attitude of ‘this is how we have always done it’, ‘who do they think they are?’, ‘we are in charge not the employees’ needs to change. Admittedly, this will mainly be from business leaders of older generations and maybe also from larger established businesses rather than start-ups who tend to be more receptive, innovative and agile.
Business leaders will need to re-write the culture of their organisation ensuring it is transparent, meaning that you openly communicate your vision, mission, objectives, strategies and what you are working on, what works and what hasn’t. Empower employees by involving them in decisions, provide them with the opportunity to voice their opinions, suggest new products and services encouraging innovation and creativity, but at the same time ensuring that they know it’s OK to make mistakes and that we learn from our failures.
Involve them in the introduction of AI asking them how their roles and everyday tasks could be improved and what they find dull about their job. Make it clear to them that they will not be replaced by AI, and you want to get to a place where they can work seamlessly with AI to improve their productivity and efficiencies and augment their roles. Then offer them training and development programmes to ensure they have up to date training and opportunities to develop their career if they want to.
Devise a remote and hybrid working strategy ensuring employees can work flexibly and remotely if desired and come into the office when required. Ensure that they have the option to come into the office when they want to or for a purpose such as a meeting, or brainstorm, the choice is theirs. You are giving them the autonomy to get on with their work and make the decisions on how best they do it.
Help create and cultivate social connections for all teams that are in office, remote or hybrid to increase effective collaboration and inclusion, and connect teams.
Trust, flexibility and respect are the buzz words here, by demonstrating this to your employees they will be aware that you trust and respect their autonomy to get on with their job and get the work done. By doing this you will be rewarded with enthused and motivated employees who value their job and who they work for and remain working for you.
Demonstrate that you care for your employees by being empathetic and understanding by holding regular ‘check in’ sessions to ensure that they are OK and if they have any issues they want to talk about.
All Good Things
All good things come to those who wait so be patient. This new way of managing the modern workplace takes time and we are all learning together, and it will continuously evolve, and you and your employees will adjust accordingly.
It’s not a power struggle it is about gaining mutual respect and trust and working as a team to achieve your objectives. The payback will be that employee engagement will increase and you will garner their respect and trust which is two-way, you must earn it to receive it. This takes effort and time, but the benefits will be that you attract and retain talent, improve your reputation as the company people want to work for.
For startup founders, managing cash flow is one of the most critical tasks. Cash flow refers to the money coming in and going out of the business. It is essential to ensure that there is enough money available to cover daily expenses, payroll, and unexpected costs.
One effective tool that can help startup founders manage cash flow more efficiently is a credit line. A credit line provides access to funds when they are needed, allowing businesses to smooth out their cash flow and avoid financial crunches.
What is a Credit Line?
A credit line, also known as a line of credit, is a flexible loan option that provides businesses with access to a set amount of money.
Unlike a traditional loan, where you receive a lump sum upfront, a credit line allows you to borrow only the amount you need, when you need it, up to a predetermined limit. You only pay interest on the amount you borrow, not the entire credit line. This makes it an ideal solution for managing short-term cash flow needs.
This may be more flexible than other types of startup funding such as using VCs and angel investors, although this can work in tandem with a credit line quite nicely.
Smoothing Out Cash Flow Variability
Startups often experience uneven cash flow. For example, you might have months where sales are high and cash is flowing in, followed by months where income is lower. However, your expenses, like rent and salaries, remain constant. This variability can put a strain on your business if not managed properly.
A credit line helps smooth out these fluctuations. During times of low revenue, you can draw from your credit line to cover necessary expenses. This ensures that your business operations are not disrupted due to temporary cash shortages.
In fact, according to a study by Intuit, 61% of small businesses worldwide struggle with cash flow issues regularly. Having a credit line in place can prevent these cash flow problems from turning into more serious financial crises.
Handling Unexpected Expenses
Startups often face unexpected costs. Whether it’s equipment that suddenly needs replacing, a surprise opportunity for expansion, or an unexpected market shift, these expenses can strain your cash flow.
A credit line provides a safety net in these situations. Instead of scrambling to find money when unexpected expenses arise, you can simply draw from your credit line, ensuring that your business remains operational and can take advantage of new opportunities as they arise.
Improving Financial Flexibility
Having a credit line also increases your financial flexibility. For example, you can use a credit line to make bulk purchases that offer significant discounts, thereby saving money in the long run. Additionally, a credit line can help you negotiate better terms with suppliers by ensuring you have the cash on hand to pay early, which can often lead to discounts.
According to a survey by QuickBooks, 57% of small businesses have been able to increase their profits by using credit lines to take advantage of business opportunities that required immediate funding. This highlights how credit lines can be a valuable tool not just for covering costs but also for driving growth.
Building Business Credit
Using a credit line responsibly can help build your business credit score. As you borrow and repay from the credit line on time, your credit history improves. This is crucial for startups, as a strong credit score can lead to better loan terms and access to larger amounts of capital in the future. It can also make your business more attractive to investors and partners.
Conclusion – Be Strategic
For startup founders, managing cash flow efficiently is essential for the survival and growth of their business. A credit line offers a flexible, cost-effective way to handle cash flow fluctuations, cover unexpected expenses, and capitalize on new opportunities.
By using a credit line strategically, startups can not only avoid financial difficulties but also set the stage for long-term success. Whether you are just starting out or looking to scale, understanding and utilizing credit lines can be a game-changer for your business’s financial health.
The legal business is extremely competitive, and thus, effective marketing becomes crucial for winning and retaining clients. Of course, the traditional methods alone won’t work as they used to; a modern approach that involves digital tools and strategies is required.
Here are some practical tips that will help lawyers market their services effectively and build lasting client relationships.
Create a Professional, User-Friendly Website
This will most likely be their first point of contact, so ensure that you impress them. A professional, user-friendly website will help you stand out from the competition.
Ensure that your website is mobile-responsive because most people use their smartphones to look for services. In that case, your website should be easy to view, quick to load, and appealing to the eye.
Be specific regarding your services, areas of expertise, and the kind of legal issues you deal with. Mention your experience, qualifications, and achievements. Testimonials of clients and case studies add to credibility and trust.
Update your blog regularly with quality articles regarding legal issues. This will help draw more visitors to your website and also enhance your search engine rating.
Use Search Engine Optimisation
SEO is a critical part of marketing for lawyers. SEO helps a website rank high in search results so that potential clients searching for legal services can find you.
First, identify the relevant keywords that prospects may use while searching for legal services, then organically weave them into your website content, including blog posts and service pages.
This is very important because most clients look for lawyers locally. Ensure that your firm has a claim on Google My Business, as well as other local directories. Encourage your satisfied clients to provide positive reviews, as this may enhance your rankings in local searches.
Moreover, optimise your website for mobile and improve its loading speed for the best user experience.
Use of Social Media Marketing
Moreover, it gives you direct access to advertising your services and connecting with potential clients.
Create professional profiles on those platforms and share relevant information regularly. It could be either in the form of legal tips, news related to the industry, or even updates about the firm. One can engage with followers by responding to the comments and messages to build a relationship and trust.
The key to any optimised social media strategy is the element of consistency. Post regularly and have a professional tone in your posts. Running social media ads will increase your visibility and generate traffic to your website.
You can set up the demographics and interests of whom you want to see your ad. In this way, staying active on social media improves your online presence and attracts more clientele.
Spend on Content Marketing
Content marketing for lawyers is a process for creating relevant, valuable content to actively attract and engage your target audience. This could include quality blog posts, articles, and whitepapers that can provide your firm with an image of being an industry thought leader.
Share what your potential clients care about, news on the changes in laws, how to cope with legal issues, or what to do in various legal processes.
Provide downloadable materials, such as e-books or guides, in exchange for contact information to expand your email list and further nurture your leads. Other strong tools for your content marketing can be webinars and podcasts.
Hosting webinars on a variety of legal themes will help you provide value for your prospects by showing your expertise. Record these and offer them as on-demand content to continue re-engagement with clients.
Deploy Email Marketing
It’s also relatively cheap to stay in touch with current and potential clients via email marketing. First, you must build your email list. Offer quality content, such as an e-book or whitepaper, in exchange for email addresses. This will help you grow your list and position your firm as a subject matter expert.
Email marketing requires segmentation. Subscribers need to be segmented regarding interests and needs, sending relevant emails that target their concerns. Tailor-made emails will have high open and read rates.
The regular newsletter will also be very effective in informing your audience of any legal trends, upcoming events, and success stories. Automated email sequences nurture leads by providing a series of very helpful resources and information about the services provided.
Conclusion
Effective marketing will go a long way in attracting and holding on to clients within this competitive attorney industry. You can develop a professional and highly user-friendly website; use SEO, social media marketing, and content marketing to enhance your online presence.
This will also include email marketing, optimization of local search, engaging video marketing, and reputation management. By following these tips, your firm can increase and retain more clients—hence guaranteeing long-term success.
This article is written by award winning global business coach, Peter Boolkah. Peter has over 20 years experience helping business owners scale up their business. He is also a business owner himself, having founded the SEO agency Visibility SEO.
Nearly 18,100 people search for “how to start a business” on Google UK each month. Of those who go on to set up a business, 35% will fail. This is usually due to too much competition existing in their industry. But it isn’t all doom and gloom. Many entrepreneurs start businesses and are successful. Names like Richard Branson, Levi Roots, Sarah Willingham, Lord Sugar and Steven Bartlett trip off the tongue as founders who have built businesses and made a lot of money. However interestingly those meteoric rises to success all have a story behind them of hard work, strategy and resilience.
As a business coach of over 20 years and a successful business owner, I have helped many founders build their companies and then exit them. One particular client started as a sole trader and we helped him grow his team to 110 staff and take his turnover from 1.5 million to 8 million. We then helped him sell and exit his company. This was over a period of 9 years. Building and selling a business takes time which is why American author Steven Covey, famous for his book ‘7 Habits of Highly Effective People’ was so right with habit number 2 – ‘Start with the end in mind’. This can directly relate to starting and operating a successful business.
As an Entrepreneur, you are likely to be an expert in your product or service. However, often entrepreneurs and business owners are not as good at stepping back and looking at how to optimise the value of their business. They get caught up in making money in the short term and forget that a strategic approach to their business will give it the best chance of success. For example, when you start a business you often need funding. For that, you get a business plan together. That business plan takes into account the business idea, the people you will need to help you, what money you will make and how much money you will need to facilitate it all. To do this you need to envisage what you want your business to look like in the future. Define what your end goal is. What would your business look like if you were to sell it at the height of its success and how do you build it to look like that? What do you want to achieve with your business? The most valuable and attractive businesses for sale are ones that are on a clear upward financial growth trajectory. You need to be able to demonstrate that within your business structure. Consider your target market, revenue streams, operational strategy, and financial projections. Who will you need in terms of team members, partners and investors to help grow your business and what is your timescale?
Setting up efficient systems, assembling a skilled team, and creating strong processes to support your long-term vision will help with that strategy of upward growth. A strong infrastructure is key, as is planning for unexpected events and working out how your business would withstand them. For example, over the last four years business owners have had to deal with a global pandemic, Brexit and a war in Europe which have all come together to cause a substantial cost of living crisis. When planning and starting your business you need to make sure it can withstand an unexpected event. You must always have a plan of what to do if the economy is rocked and your business is affected in some way.
Design your business in a way that allows for scalability and growth. Make sure that the operations part of your business is adaptable and able to accommodate an increase in demand. However, you must always make sure that you have a clear plan for cash flow and how to reinvest into the business to grow it. Your business must support evolving market trends. The business landscape is constantly evolving. Embrace change and be willing to pivot your strategies to stay relevant and competitive. As part of this make sure you regularly assess the progress of your business against your long-term goals. You should adjust strategies, make necessary changes, and ensure that your decisions align with the end goals of growth you set out in the original plan.
Getting a business ready for sale takes years. Usually, an exit strategy takes around 7 years from planning to sale completion. This is why regardless of whether you intend to sell your business or not this is an interesting and helpful exercise to do when embarking on setting up a business. An exit strategy helps to maximise the value of your business. Work out how to optimise the value of your business over some time to get the best price if you come to sell or you need more investment to grow.
When we talk about starting a business with the end in mind, simply it is about setting a clear vision and building your business with a strategy to achieve that vision. Make sure your business is properly positioned and there are no weak spots to be taken advantage of. Make sure you create something sustainable, that will thrive and help you realise your ambitions as a business owner.
Where there’s leadership, there’s conflict. What’s most critical is how you handle the conflict and navigate through it that will make the most impact to your employees and overall performance of your organization.
As a leader, it’s your responsibility to understand where conflict arises and define what the issue really is, without emotions getting in the way. You’ve likely noticed that sometimes even the seemingly smallest issues can create conflict. When people are under pressure and feel stressed, conflict can create an emotional tsunami. This is a dynamic that can make or break your team.
The best thing to do is allow a two-way conversation that looks at the facts; how did the issue or problem arise? Could it have been handled differently to avoid the problem entirely? What can we do now to rectify the situation?
Think EQ: emotional intelligence. EQ is our ability to manage and regulate both our own emotions and the emotions of others and when it comes to conflict, this is fundamental.When you need to resolve any issue or problem, it’s important for your team to feel safe in taking ownership of the problem.
Next, consider what the barriers are to resolution – what will keep you from resolving the issue? Understanding what to say and how to say it is also key; many times leaders feel awkward because they aren’t sure how to clearly convey what they want to say. When I work with clients, we rehearse and role play these conversations to help them feel comfortable when they play out in real life.
Common Misconceptions
It takes effort to be effortless, especially in tough conversations. It’s easy to forget that conflict affects us every day. Sometimes, we’d rather avoid a difficult situation or conversation. But, that’s usually just a short-term solution. Avoiding the issue usually only delays the inevitable. For leaders at every level, communication with your team really is everything.
It’s a true opportunity to communicate better, earn trust and build better working relationships. You can think about this as a great way to work on building your conflict resolution muscle.
My advice to my clients? Practice makes a difference. Role play can be an effective tool to practice with, as you’ll have the poise to help you when conflict comes up.
Reasons why conflict escalates and what to do about it
Conflict often occurs when;
There is a lack of clear communication or none at all. Communication is everything. Think of it as both guidance and the rules of the road. When communication is lacking or even nonexistent, communication “gaps” can take over and it’s human nature to fill in those gaps ourselves. For example, if when we come into the office in the morning our boss or team member doesn’t say hello, we may feel they are ignoring us. While that’s likely not true at all, we’re filling in the communication gap ourselves.
There is a lack of trust. People want to work with those they like and trust, and trust is built on the relationships we create and maintain. When we trust someone, we’re not hesitant or afraid that they will do us any harm. However, when trust is absent we tend to be hyper-vigilant and look more closely at what others do.
Team members do not feel there is a safe environment where they are encouraged to speak up. When team members and leaders don’t feel an environment is safe and that they can speak up, they absolutely tend to be hesitant or quiet . As a result, we may miss out on their valuable contributions and they miss out on the opportunity to contribute- it’s a two-way street. Leaders can encourage their team to speak up and to make recommendations. I like to show team members what I’m looking for in a salient recommendation for example, and then explain that although I may not agree and proceed with every recommendation or idea, I still want to hear it- it may be absolutely what is needed.
Why conflict resolution techniques are so important
While it may feel easier to brush conflict away or ignore it, it’s best to squash it before it causes more damage to important relationships with your stakeholders.
Unresolved conflict is actually costing you money! A study from CPP, Inc found that businesses spend more than $359 million/year dealing with workplace conflict and that leaders in turn spend almost three hours per week dealing with it. In fact, nine out of 10 leaders have been involved in a conflict that escalated.
Try this technique to avoid workplace conflict:
Incorporate regular weekly communication with your team into your routine. Just because an employee works remotely doesn’t mean you don’t need to talk to them. Give your team the opportunity to practice with sample conversations or scenarios- this way they can become more comfortable and understand how to prepare for when conflict arises.
Here are five ways to create a positive environment to resolve conflicts
1 . Remember that communication is indeed everything. Provide a safe environment where people are willing to have a conversation.
2 . Model genuine, transparent communication. As a leader, set the tone by leading others and being the example you want them to follow
3 . Include conflict management training in your employees’ professional development plan. If you don’t have one, now is the time to start. Bring in an external executive coach to help you create the plan and potentially implement it too
4 . Invest in resources for your team, such as hiring a communications expert or executive coach to help them. Sometimes it’s good to have someone else working with a team on how to address conflict.
5 . Don’t forget the importance of holding one-on-one conversations with your team. Your job is to listen and help them frame exactly what to say in a tough conversation.
The goal isn’t to avoid conflicts from happening, but from learning how to resolve them as quickly as possible, with minimum disruption to the morale, performance and productivity of the team.
Shannon Alter
About the Author:
Shannon Alter, CPM ® works with organizations that want to communicate with clarity so they can gain influence in their market, build better relationships and grow their business. She has over 30 years of experience in commercial and retail real estate management and hospitality. Her programs have been used throughout the United States and internationally by organizations of all sizes.
Shannon is a National Instructor for the Institute of Real Estate Management (IREM®), and the American Management Association (AMA) and has trained professionals in 10 countries. She has held the volunteer position of RVP for IREM and is a Past President of IREM Orange County.
Her 3rd book, “Be Influential: Surefire Ways to Improve Your Presentation Skills” was published in Summer 2023. She is the author of two earlier books, leadership white papers and numerous industry articles, including a long-time industry column.
A perfect storm is brewing in the cybersecurity sector where an increase in cyber threats is compounded by a major skills shortage and lack of women representation.
Cyberattacks can shut down infrastructure, close businesses, drain bank accounts, and more. Protecting systems and data from sophisticated hackers has never been so important, and the value of the global cybersecurity market is predicted to reach an eye-popping £340 billion in 2030.
From recruitment challenges to the gender pay gap, cybersecurity services provider, ramsac, is exploring reasons for the glaring absence of women in cybersecurity, and why solving this problem could go a long way to plugging the skills gap and improving diversity.
Gender Bias Towards Men
Discrimination against women – both conscious and unconscious – appears rife in the cybersecurity industry in 2024. Studies have found that 51% of females who work in cybersecurity have experienced some form of gender discrimination compared to just 15% of men. These figures further prove how deep-rooted discrimination towards women is in cybersecurity, and why it’s likely to be off-putting for females considering a career in the industry.
Gender Pay Differences
Alongside the cybersecurity skills gaps is a significant gender pay gap where male cybersecurity workers are paid more than their female counterparts. In fact, the latest figures reveal that in the technology and cybersecurity industry, a staggering 91.1% of companies with 250 or more employees pay their male workers more than their female staff for performing the same job. This makes the tech industry one of the worst offenders when it comes to delivering equal pay, with the gender pay gap standing at 16%, much higher than the UK national average of 11.6%.
Absence of Female Role Models
The apparent lack of women in cybersecurity perpetuates the general view of it being a male-dominated sector and a bit of a ‘boys’ club.’ With just one-in-four cybersecurity workers being female, opportunities for women in this growing tech space have been limited – despite the continued growth of the global digital landscape. With only a small number of female figureheads to aspire to in cybersecurity, the perception of it being an industry mostly for men will continue until attitudes change.
Recruitment Challenges
Recruitment teams have been guilty of taking a narrow view when it comes to filling roles in cybersecurity. What does this mean? That recruiters only look for male candidates whose skills and technical experience exactly match those of the current workforce. This myopic approach and reluctance to hire women who require training – despite the general cybersecurity skills shortage – denies women the opportunity to learn new skills and launch a career in the field.
How Can the Cybersecurity Industry Encourage More Women to Join?
Develop More Cybersecurity Apprenticeships
Apprenticeships are a great way to bolster an industry’s workforce, and the same is true of women in cybersecurity. Schemes like the UK Government’s cybersecurity qualification offer a significant starting wage that rises when candidates secure a permanent job. Not only do apprenticeships help to create a diverse pool of talent within the sector, but they also give women greater opportunities to gain practical experience within a working environment and learn the essential skills they’ll need for a future in cybersecurity.
Deliver Equal Pay for Women
As mentioned, the tech industry is notorious for paying women employees less than males. However, a recent survey of UK cybersecurity workers revealed that salaries for females in technology are increasing and that the gender pay gap is slowly narrowing. This suggests tech employers are working hard to bridge the gender pay gap by introducing standards for determining salary structures based on experience, relevant skills, and performance across all roles.
Work Closely with Schools
The UK Government is determined to engage with schools and support girls considering a career in cybersecurity. For example, more than 12,500 girls across the UK recently entered the National Cyber Security Centre’s 2023/24 CyberFirst Girls Competition which aims to encourage those aged 12-13 years to pursue an interest in technology and cybersecurity. An incredible 3,608 teams from more than 750 schools across England, Scotland, Wales, and Northern Ireland were involved, and the competition continues to grow each year.
As you can see, the gender skills gap remains a serious problem in the tech and cybersecurity industry, with a lack of female workers and pay inequality among two of the biggest challenges facing employers. However, governments and cybersecurity companies realise they are missing a trick by excluding women from the cybersecurity workforce, and that female tech employees can provide an obvious solution for filling the skills shortages while making cybersecurity an inclusive space for everyone.
Thoughts on this matter.
Commenting on this, Rob May, the Executive Chair of ramsac – the secure choice, said “In the face of a burgeoning cybersecurity crisis, the underrepresentation of women in this sector is not just a missed opportunity—it’s a pressing challenge we must address. We are working in an era where cybersecurity threats loom larger and more complex, it’s clear that diversifying our talent pool is more than a matter of fairness—it’s a strategic imperative. By actively recruiting, retaining, and promoting women within the cybersecurity field, we’re not just closing the gender gap; we’re opening a gateway to enhanced innovation, perspective, and resilience in protecting our digital worlds.
Diversity by every measure will result in diversity of thought and that is a brilliant tool for any of us in the cybersecurity industry. As industry leaders we all need to champion change and create a cybersecurity workforce that is as diverse as the challenges we face.”
Launching a business is an adventure, but let’s be honest, navigating the entrepreneurial journey alone can feel like scaling a mountain with one arm tied behind your back. That’s where the power of a rock-solid business partnership comes in. A good partner complements your strengths, shares your vision and becomes your co-pilot on the road to success.
But how do you identify a potential partner who’s not just a warm body, but a true green flag – a positive indicator of a thriving and prosperous partnership? To shed light on this crucial aspect of building a business, we turn to FatRankfounder James Dooley who dives into the key signs that your business partner is a green flag.
1. Transparent Communication
Open and honest communication is the bedrock of any strong relationship, business included. Your partner should be comfortable discussing challenges, ideas, and concerns freely. As James puts it, “Trust is the foundation of collaboration. When communication flows freely, decisions can be made quickly and efficiently, fostering an environment of trust and mutual respect.”
2. Shared Values and Goals
Imagine trying to drive a car with one person wanting to go north and the other south. It would be a headache! A successful partnership thrives on shared values and goals. James says, “This doesn’t mean you need to be identical, but you should have a common vision for the future of the business and core values that guide your decision-making.”
3. Complementary Skills
Just like puzzle pieces, the best business partners complement each other’s skill sets. Maybe you’re a marketing whiz, while your partner excels at finance. Perhaps you’re the visionary, and your partner is the detail-oriented executor. By bringing different strengths to the table, you create a well-rounded team that can tackle any challenge.
4. Mutual Respect
Respect is a two-way street. A good business partner values your ideas, expertise, and opinions. They are open to constructive criticism and willing to compromise when necessary. “This mutual respect fosters a collaborative environment where both partners feel heard and valued, leading to a more fulfilling and productive partnership,” James tells us.
5. Track Record of Reliability and Accountability
Knowing you can count on your partner is crucial. Look for someone with a proven track record of reliability and accountability. “They meet deadlines, follow through on commitments, and take ownership of their responsibilities,” James advises. This builds trust and ensures a smooth workflow, allowing you to focus on strategic growth.
By recognizing these green flags, you can build a strong foundation for a successful business partnership. Partners who communicate openly, share values, possess complementary skills, respect each other, and hold themselves accountable are more likely to navigate challenges, seize opportunities, and propel your business towards long-term success.
“So, the next time you consider a business partnership, keep your eye out for these green flags,” James concludes. “They might just be the key to unlocking your company’s full potential.”
