Whether you're starting a business or looking to grow an existing one, space is an important factor. And storage is key to ensuring your work area remains clutter-free, whether that’s in your home, premises or another location.
Knowing your storage options – and the benefits/risks – can help you choose the most effective storage solution for your business.
It's no use storing something if it ends of getting damaged by mould. If you have equipment or products to store at home, make sure that the room is dry (avoid storing things directly on concrete floors can help stop them getting damp). Moisture control products or a humidifier can help eliminate excess humidity too, but however dry your storage space is, check items every now and then to ensure their condition isn’t deteriorating.
This sounds like a no-brainer, but make sure that you have good access to storage space. If pick-ups and deliveries will be made, you need to ensure good vehicular access. And if you're storing heavy items, you could well need a trolley or pallet truck.
If you're storing things at home, accessibility can be even more of an issue, especially if you're receiving deliveries regularly. Drivers will be in a hurry and a pallet of small goods might be bigger and heavier than you imagine.
Also think about having space around whatever you're storing so you can break up bulk stored items for use or redistribution.
The biggest issue when it comes to storage is security. Home storage needs to be as burglar-proof as possible. An alarm, security monitoring system and contents insurance is a good start. For warehouse or industrial units, check to see what security is included in the price.
Drew Davies writes for Big Yellow Self Storage. Start-up businesses can harness the security and flexibility of our industrial units, with 50% off for 8 weeks.
Do you have a formal induction plan for new recruits? An induction plan will help ensure that the initial impressions on the first day of a new job are positive and that the new employee starts off productively.
Here are some points to consider as you develop an induction plan for your business:
1 Identify key current employees to be ‘buddies’ with, or provide hands-on training to the new recruit. You want to be proactive in freeing up time and resources for the ‘buddy’ to be effective and train the new person to be productive as soon as possible.
2 Have a checklist of items to have ready when they get to work on their first day:
3 Have access to training items, safety rules, passwords and keys ready for what may be applicable.
It may seem like a little thing, but imagine the impression a new employee would have upon arriving for their first day and hearing: “Oh, is today the day you start? Let’s look around and find you a place to work.” Compared that to: “Here is your clean desk, and your email account is set up. Let me introduce you to the team and make sure we give you a great first impression.”
Depending on the significance of the recruit, you might even consider arranging a social event for the team to meet and greet them. When compared to the cost of turnover to replace an employee, the initial investment in making sure the new recruit will become productive quickly is well worth it.
If your business doesn’t have a formal process now for new recruits, consider starting a system for this process. Don’t worry if it’s not perfect at first, but you should review it and tweak it with your team after each hire to make sure the process continues to improve and evolve.
The candidates on The Apprentice are going to Waterloo Station this week to hear about the next challenge. They’re obviously hoping for a nice day out somewhere but Lord Sugar, Nick Hewer and Karren Brady are waiting for them in a smelly old railway arch that’s covered in graffiti.
Their mission, should they choose to accept it, is to sell urban art. Of course they accept it, even though Adam claims he had never heard of urban art until now. In sharp contrast, Tom rates himself as a bit of a graffiti guru and is soon voted project leader on team Pheonix (with Laura, Adam and Jade).
On team Sterling, Gabrielle says she has two useful strings to her bow — she has worked with artists and she has catering experience — perfect credentials for schmoozing art buyers. So she’s voted project leader by Ricky, Jenna, Nick and Stephen.
There are three key elements to this task. First they’ve got to find two artists to represent. The teams are in competition, so it’s vital that they make a good impression. Then they’ve got to meet two corporate clients to find out what kind of art they’d be in the market for. And finally they’ve got to sell pieces by their chosen artists in their own pop-up galleries in London’s Brick Lane.
What the Apprentice does brilliantly is show us how not to do things and this week is no exception.
Tom tries to win over the artist Pure Evil by showing off his knowledge of the urban art market and by name-dropping left, right and centre. He hardly says a word about Pure Evil’s art though. Honestly, if you were meeting Beyonce, say, would you babble on about Adele, Madonna and the Pussycat Dolls? Not surprisingly, Pure Evil doesn’t choose team Pheonix to sell his art.
In contrast, Gabrielle’s approach — admittedly somewhat gushing and gurning — wins over Pure Evil. And it really pays off — at the end of the day his art makes team Sterling over £10,000 in sales.
But Gabrielle is hopeless when it comes to the corporate client — Beefeater Gin. She fails to ask them what their budget is. It means team Sterling ends up proposing they buy a painting that costs a few hundred quid when their budget is actually £10,000.
But they don’t get a bean from Beefeater in the end because of the shoddy way Stephen handles these important clients when they turn up at the gallery. He’s all over the place and despite waving his own glass around as he talks to them, he doesn’t offer them a drink for ages. It gets worse. When they say they’d like a gin and tonic, he says, “I wish”. Karren Brady calls it “a masterclass in how not to treat a corporate client.”
When it comes to selling, Adam is the star, yet again. He makes the majority of sales but even his efforts aren’t enough to turn the tide. Team Pheonix fails to rise from the ashes and loses the task.
Tom invites Laura and Jade to face the music with him. There’s lots of analysis of the mistakes Tom has made. When he fails to secure Pure Evil, Tom chooses a high-risk strategy — selecting James Jessop, an artist whose paintings are massive with a hefty price tag to match. Sales came there none.
But you can tell Lord Sugar likes Tom’s gumption and the fact that he “rolled the dice”. So the focus turns to sales. Laura, who has her own wedding dress shop, is totally at sea when it comes to flogging urban art. And so it’s Laura that has to walk the plank this week.
Looking ahead to next week’s task — marketing English wine — I can’t help wondering if Tom has been saved so he can demonstrate his knowledge of fine wines — his real-life business. Then again, when he tried to play the expert with the artists this week, he came unstuck. It should be interesting.
Find out more about the candidates on the BBC Apprentice website: http://www.bbc.co.uk/apprentice
In the past 30 years I’ve set up three businesses. I started my current business, Stinkyink.com, on 22 April 2012 (yes, we were ten years old last month!), knowing nothing about ecommerce. To make matters much worse, within months of starting the business I was almost bankrupted by a national ring of scamsters who defrauded me out of £32,000 using stolen credit cards.
The police could do nothing and I was at a very low ebb. But I’m not a quitter. I discussed it with my dog and decided to carry on! That really coloured the first four years of the business because it made it hard to get credit from suppliers as our balance sheet was so weak. It taught me the importance of having cash in the bank and watching my P&L like a hawk.
However, the gamble paid off and within two years my company was in profit and today Stinkyink.com employs 14 staff and turned over more than £3m last year. I’m really proud of what we’ve achieved together over the years in a highly competitive market. We all work hard to look after our customers and that has paid off with them staying loyal and recommending us.
I’m often asked for my tips for new businesses. It’s different for everyone, of course, but these tactics have worked for me:
If you start a business with a friend, you will fall out eventually. That’s my experience, anyway. When my first business failed the bank chased me for the total amount of the guarantees when my partner couldn’t pay his share. This was £40,000 and took 10 years to clear.
Putting time and thought into a business plan and revisiting it regularly is worthwhile. Unless you have a target to aim for you won’t know when or if you’re succeeding.
Never take a charge on your house and try to avoid providing more information than a lender requires.
Do your accounts, get invoices out promptly and don’t accept being messed around over payment. Pay your suppliers on time, too – it gives you their goodwill and possibly more credit.
One of the many bonuses of online selling is you can find out where your customer has come from; how they searched for you; how quickly they left and whether they actually bought anything from you. Using this information will enable you to improve your website and also your customers’ satisfaction, which can only be a good thing.
It’s impossible to place a value on a hardworking employee that cares about your business and where it’s heading. Spending the extra on wages for key skill sets or talents that are suited to your business can be the difference between a 5% and 20% growth in a start-up’s early years.
John Sollars is MD of printer ink retailer Stinkyink.com
Shocking news for most small-business owners – it’s not about the money. In the discussions I have with the majority (but not all) of small-business owners, there is an assumption that employees are motivated most by money. “If I give them a pay rise, they will work harder”. Unfortunately, I have also heard, “I gave the employee a rise and they didn’t work any harder!”
In his great book Drive, Dan Pink explores the rift between what science says and business does.
The reality is, money is more a satisfier than a motivator. Every person needs enough money for their basic needs and comfort. Until they meet these basic needs, money is a motivator. But in looking to obtain extra efforts or performance improvements, money has been proven in research to produce the opposite results – negative performance improvement!
When you think about any employee bonus plans that you may have had yourself or for your employees, did they ever actually motivate anyone? Was the bonus calculation even tied to activities they had control over? Usually, it is a mystery what the bonus is, right up until they get it.
If an employee makes a complaint about ‘not enough money’, there is another assumption that this is the actual problem. This is a great example of ‘the problem is not the problem’.
A complaint about money is usually a way of saying there is some other unhappiness or unfairness. If an employee feels there is unfairness between pay rates, this could be a result of a number of factors, including a simple misunderstanding. If an employee is unhappy, there is a natural tendency to ask for more money to compensate for the unhappiness. If the employer could explore and determine the cause of the unhappiness, the money problems may disappear.
What are your thoughts? Do your employees care about money more than respect, opportunity for advancement or flexibility? Have you ever had a bonus plan that motivated employees?
Lord Sugar is taking the candidates to his old stamping ground on this week’s The Apprentice.
The candidates have to buy stock from an Essex wholesaler and sell it at local shopping centres and markets. It’s a simple task — but it’s guaranteed to reveal just how much business nous each of the remaining candidates actually have.
The trick is to spot the best sellers and flog them for all they are worth. They’ve only got £150 to spend so the idea is that they keep on restocking as they start to sell out. At the end of the day, Lord Sugar will count their assets — stock and cash — to see who has won.
The teams get a reshuffle and look like this:
Team Pheonix: Laura, Tom, Adam and Azhar, with Jade in charge.
Team Sterling: Stephen, Ricky, Jenna, Gabrielle, and leader Nick.
Jade’s team is a bit of a mess. They take ages deciding where to sell the stuff and leave themselves with just ten minutes to actually choose their stock.
Jade calls herself a “born leader”. But you have to question the truth of this statement since she’s the only candidate who has not been a project manager until this point.
At the market, Adam is “totally at home in this environment” and by sheer force of personality sells out of everything, albeit for rock-bottom prices.
But there are rifts in the team. Azhar has no faith in Jade and rings her every five minutes to quiz her about her strategy. Granted, she’s not on top of things, but it’s a blatant attempt to undermine her.
The star on team Sterling is Jenna, who is selling fake tan at a hefty £10 a time to queues of women desperate for a healthy glow. Meanwhile, Ricky and Stephen have transformed themselves into Essex boys. It’s all “lovely jubbly” and “happy chappy”.
But it’s the fake tan that’s the star of the show, with its impressive margins. Unfortunately, Nick leaves it far too late to restock and they end up manning an empty stall for two hours in the middle of the day. But once they’ve got more tan in a can, they’re back to business as usual.
In the boardroom, it’s no surprise that team Sterling has won the task with assets of £955.20. Team Pheonix have managed to amass £838.21.
The post-mortem is clear. Team Sterling bought well, sold well and made good margins. Team Pheonix bought a bit of everything and sold it too cheaply.
Jade is quick to point the finger at Azhar but struggles to find a second contender for the chop. No sooner has she chosen Tom than she is apologising and singing his praises.
So it’s clear that Lord Sugar has to decide between Jade — who is enthusiastic but ineffective — and Azhar, who is probably right but not a team player.
This is a hard one to call. No doubt about it — Jade has stuffed up. But Lord Sugar doesn’t like Azhar’s subversive tactics and in the end, he gets the finger.
Next week: Psst, wanna buy a Banksy? — selling urban art
Find out more about the candidates on the BBC Apprentice website: http://www.bbc.co.uk/apprentice