Category: Business Advice

By Sam Stoffel, Founder and CEO of Outplayed.com

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.

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.

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 3^rd 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.

Links:

www.leadersexceed.com

www.linkedin.com/in/shannonalter

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.  

Despite the industry’s apparent wealth, a worrying dearth of cybersecurity professionals, especially women, currently exists. A mere 24% of the global cybersecurity workforce are women. 

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 FatRank founder 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.” 

By Amy Knight, Co-Founder and Director of Must Have Ideas

In the aggressively competitive world of online retail, filled with drop shipping, untrustworthy brands and seemingly endless options for consumers, it’s never been more important to be the face of your brand. Consumers crave a personal connection with the company they are buying from – this personal connection increases trust and brand recognition. It’s what turns browsers into first time buyers and ultimately into returning customers. As co-founder and director of Must Have Ideas, cementing myself as the face of our company has massively improved the building of trust, bringing us more returning customers each year.

The Power of Personal Connection

Personal connection in business is important for several reasons, particularly in the world of modern e-commerce. Consumers enjoy more choice than ever but as retailers compete on the lowest prices, the best products and the fastest deliveries – many forget one crucial competitive element – the power of personal connection and – specifically, putting a face to their brand. There are many ways you can be the face of your brand, from personally advertising your products online to simply tailoring your emails with a personalised signature.

By adding this personal touch, customer satisfaction, trust and brand recognition will be hugely enhanced. This concept is backed up by a survey carried out by Sprout Social, who found that 70% of consumers feel more connected to brands with CEOs who are active on social media. It also found that “when customers feel connected to brands, more than half of them (57%) will increase their spend with that brand with 76% opting to buy from them over a competitor”. Such high percentages really drive home the importance of maintaining a personal connection and makes customers much more likely to recommend you to friends and family.

Enhanced Customer Satisfaction

However, creating customer satisfaction goes beyond being the face of your brand as customers’ picture a clear, friendly face who they can trust throughout their purchase journey. If there are issues with their purchase, they’ll feel more able to approach a brand offering that personal touch. At Must Have Ideas, our customer service lines are open seven days a week, from 8am and 8pm. We can be contacted by phone, email, text and even by post. Our customer service team is located at our main offices in the UK, which for us is a key element of our business strategy. We believe that there is still a place for traditional customer service as it develops trust and ultimately keeps customers returning. Our customer service team are trained simply to treat every single customer as they themselves would want to be treated.

Personal touches help strengthen the relationship between us and the customer, it enables us to grow as a respected brand while fostering transparency and authenticity. This can be developed further by engaging with customers on social media, email and even at in-person events. Many well-known and successful brands have built trust with a visible leader, with Richard Branson at Virgin, Mark Zuckerberg at Meta and Elon Musk at Tesla being notable examples.

Making your Brand Memorable

Having a face to your brand creates a memorable person for customers to recall, by including your presence across your website and social media. Having a well-defined brand identity made up of consistent logos, colours, slogans and images alongside a recognisable face reinforces uniqueness and memorability while remaining consistent and relatable to customers. Many of the elements of well-known brands have even become part of the public consciousness such as Nike’s iconic “Swoosh” and McDonald’s “Golden Arches” logos, along with their respective slogans “Just Do It” and “I’m Lovin’ It”.

Recognise Your Niche

It’s important to recognise your niche, whether this is for being a female-founded company or family-run, you should include these specific elements into your branding. Remind your customers about what you’re proud to represent to continue to build and maintain that connection.

Havas Group’s Meaningful Brands Study in 2021 found that 66% of consumers want more meaningful experiences from brands. This shows the value of representing what’s important to your company and by giving your customers a meaningful experience in some way, you can promote loyalty and ultimately achieve long-term success.

By Dionne Lee

My interest in money and financial independence was sparked by playing a board game when I was 12 years old! What caught my attention was how I could create more income passively than by working a job and trading my time for dollars.

Then, when I finished high school, I fell into a financial services traineeship working for a credit union. I quickly learned about different products such as term deposit investments, how home and investment property loans were approved, and the basics of money management from my manager at the time — and I was only 17 years old!

By the age of 20, I took a significant step forward in my financial journey by acquiring my first investment property, and then quickly expanded my portfolio with the acquisition of a second and then a third property within the following two years. This is really what marked the commencement of my endeavour into the realm of real estate-driven passive income, and the purchase of many properties over the coming years.

Fast forward to my late 30’s – three children, many properties and two successful businesses in mortgage broking and financial coaching. Like a lot of people, at that time I went through a divorce, gave up most of the assets to keep life amicable for my children, and ended up back at stage one starting again trying to get back into the property market. Having gone through this experience myself, I was then realising how many other women were at that same starting point (including girl friends of mine), but a large proportion of them didn’t have the financial experience I had acquired over the previous two decades, and they had no idea where to start of what they should do first. This was where A Woman Inspired began.

Although I had been coaching my existing clients (male and female) to help them build investment property portfolios with the smarter lending structures and passive income, I had never tailored it to women as such. This is where my passion kicked in, and full financial literacy and coaching began.

Today, I help ordinary everyday women learn for themselves the tools I have learned since I began my financial career and personal financial journey at 17 years of age.

I encourage, and allow women the space to dream and think much bigger about how they want their life to be. Once I know their desired lifestyle and financial destination, I can then work from their end goal backwards, to where they are beginning from today. I start with educating my clients on the basics of budgeting, money management, money mindset, passive income, property types and investment types, to then calculating the numbers on each of these to understand if each particular investment they will consider will give them the highest and best use of their time and money – before they jump in. From there I build their income producing assets to give them enough passive income, and become debt free, to then set themselves up for a financially stress-free life. It is all about arming women with financial knowledge and financial literacy to ensure they understand exactly what they are investing in and not just believing what the different professionals tell them.

Part of that literacy is not just in terms of thinking bigger and calculating numbers, but understanding what questions to ask and what stipulations they need to give the professionals assisting them. Remember – a professional may have the qualification to advise, but not necessarily the personal experience to really give that crucial part that makes all of the difference sometimes.

For example, everyone should have their lender structure their lending the smarter way that benefits the consumer. The loan product, the interest rate type, and how the lender ties the client to them when there are multiple properties involved is all so important to understand when borrowing money. Unfortunately for the consumer, the banks are there to make money for their shareholders, and don’t necessarily train their staff to help a client structure their lending in the best way for each individual client. The banks may be very helpful in approving the clients’ loans application, but unless the client knows to state how they want their lending structured, the loan may be structured in the best interest of the lender, and the client would be none the wiser. Structuring your lending the smarter way, can save a client thousands of dollars of interest without paying any extra off the loan itself.
When borrowing money, it is not all about the interest rate and fees, although the majority of the population only compare these two aspects of the loan!

Just imagine having your own home but paying out that mortgage in half the time or sooner just by having that financial literacy. The savings in interest alone could be the equivalent of buying another property. We are talking about potentially some really large numbers here for the normal single woman. It is just understanding that you don’t know what you don’t know and being prepared to learn!

Most of my female clients come to me because they need someone they can trust, and have been referred by another one of my clients who is already fully or part way through the financial literacy process.  They need someone who is walking the walk and talking the talk from their own personal experience. Someone that is out there doing it themselves and being completely transparent telling and showing them exactly what they do themselves and why.

Money and a person’s financial position is not one widely spoken about because it is a private and sometimes an uncomfortable topic to talk about. It doesn’t need to be an uncomfortable topic – it is just one that many people don’t have enough knowledge, literacy and understanding about. Money is simple to understand when you think about it logically; and with the correct guidance and education around it, your understanding and confidence can exceed well past your own expectations.

I know my job is done when I see my clients understand what I am teaching them. I see the excitement in them when they start to reap the rewards, achieve their goals and begin teaching and educating their own children and friends to have the life we all deserve.

Queensland Broker of The Year Dionne Lee, Financial Coach and CEO of A Woman Inspired  

By Amna Zaidi, FCA, CMgr, MCMI, Leading Transformation Consultant

In today’s corporate and business environment standing still is no longer an option. Whether you’re a seasoned industry leader or a startup, stagnant growth or market disruptions are clear warnings that means for many businesses it’s time to act. However, it’s much harder as a business to respond effectively if you’re not ready or ill-prepared, with little or no warning.

Examples include the arrival of new technologies, competitors, or social or market trends which can all be a huge threat and have serious implications on a business model. With the cost of taking no action being far greater, a consideration should be to enlist a transformation specialist. Equally, if a company’s growth has plateaued or is in decline for any reason, a transformation consultant could help. Here, Transformation Consultant, Amna Zaidi discusses why being prepared isn’t just a strategic choice and how it’s imperative to business survival.

The uncertain journey

Imagine you’re embarking on a business journey; you know where you intend on going and your vision for the company is clear. However, the way you’re getting there is less so. It’s imperative that you set strategic goals for direction, as for many businesses it’s here when challenges arise, whether that’s during strategic planning, innovation initiatives or process improvements. It’s when as a business you’re aware of the goal, but the optimal path remains elusive.

In such a fast-paced world priorities shift like sand dunes which also means that customer demands, market trends, and external factors are constantly reshaping the landscape so business agility is vital. Doing this will enable leaders and managers to recognise when priorities shift, when unforeseen obstacles arise, and how the landscape evolves. Instead of rigidly adhering to a plan, businesses should adjust direction according to the changing business needs and a transformation expert is your ideal partner in driving this, alongside business as usual.

Complexity

Leaders with longstanding business experience will know that complexity is a constant companion. When embarking on transformative journeys, there can be many business changes spanning technology, processes, culture, and strategy. Touching on every corner of an organisation, ‘transformation’ is likely to impact on areas including upgrades to legacy systems, streamlining workflows, fostering a growth mindset and encompassing people and organisational change. A good transformation consultant will manager such complexities and rather than seeing the negatives, will turn the chaos into a business opportunity, preventing paralysis from these complexities when they arise.

Accelerating change and navigating resistance

Helping to accelerate the transformation process, external support is crucial for those businesses operating in rapidly changing industries, when fear and uncertainty can present as a barrier to moving forward. With proven methodologies, ‘transformation’ involves reducing disruptions and devising strategies to overcome resistance, ensuring for much smoother processes. Aligning the company culture with a new direction is also critical, and consultants will facilitate this. Whether it’s communication gaps, fear of job loss, or attachment to the status quo, they will tailor strategies, communication campaigns and pilot programs, while engaging stakeholders at every stage of change.

Ensuring sustainability

Creating a sustainability strategy that ensures long-term success beyond the initial transformation is key, as is focusing on building internal capabilities to manage changes independently in the future. A transformation expert will be your ‘architect of resilience,’ and empower your team, enabling your business to adapt and thrive.

Improve financial return

Engaging a transformation expert not only enhances the financial returns created from business improvement projects but it also ensures efficient project execution, through monitoring performance rigorously and implementing cost-saving measures. According to Project Management Institute (PMI), organisations with project management practices spend twenty-eight times less money than those without such practices​ (Project.co)​.

What’s more, according to surveys, around 70% of business improvement projects fail to deliver the expected benefits or outcomes, all largely due to inadequate project management practices, poor planning, and lack of stakeholder engagement.

Enhancing leadership and governance

If your competitors are a step-ahead, an important way to counter this to adopt the perspective that only an external consultant can offer. In doing so, they will identify how to address any underlying issues by taking a holistic view, looking at solutions and insights from within the industry and by acting as a business ‘interior designer’ for projects to ensure the best outcome. 

So when every second counts and traditional strategies are no longer working during critical situations, time is of the essence. Transformation experts will identify problems, discover the root cause and re-establish a new direction for the business.

Finally, always remember as with any personal journey, it is the same for that of a business -and it’s the journey that matters as much as the destination.