For many sole traders, their biggest initial outlay is a company van. This infographic from Premierline Direct Insurance looks at the true cost of owning a van over four years.
Click on infographic to enlarge.
Infographic © 2014 Premierline Direct business insurance
They say that it takes a village to raise a child. For those in business, it takes a company to raise a workforce. Here are some guiding principles that help me keep our annual staff retention rate at 94% – something we’re particularly proud of!
The first step is to match new staff to the corporate culture and the recruitment process is critical. It's important that a number of different people within the business interview the candidate, allowing a multi-dimensional view of their ability to fit in and transferable skills to do the job advertised.
It is up to the business to invest in its staff and give them the tools to grow. Still, this cannot be a walk in the park and, at alldayPA 75% of staff don’t complete the three-month training period. For those that succeed, the return is a team that will invest themselves in the business, propelling the company forward. A structured training programme that maps to a clear set of roles and responsibilities is an inspiration to the workforce.
Office life has changed thanks to the arrival of new technology and consumer expectations of an “always on, always available” point of contact. People want to talk to a person regardless of the time of day rather than leave a voicemail – 80% will not to leave a message. The standard nine-to-five working day is long gone. As long as the right number of people is working at the right time, it doesn’t matter if they swap shifts around between themselves. If you can allow a margin of flexibility, where they can swap shifts to cover child care or different religious holidays then you, as a business, will be a much-loved employer by demonstrating trust.
Does anyone else feel like the Jeremy Kyle of the business world? By building an atmosphere of trust, this can open the door to being an agony aunt. While this is good because the team feels they can talk to someone, it is very important to remove the emotion from the situation. As the employer, there are certain practical things that the business can help with for example a short-term interest free loan to bridge a difficult time or move team members around if there is a problem.
By establishing a climate of trust and team spirit it allows the team to form tight bonds like a family. Be realistic, you are looking for a ‘real’ family atmosphere and not a polished Hollywood version. Things can get heated because people care about each other and the business, however, this brings people closer to support each other and bring a top class attitude to the office.
Copyright © Gareth Jeffrey 2014. Gareth is operations manager at professional telephone answering service alldayPA.
The excuses for not buying now are many: too small, too big, too soon, too fast, too slow, too expensive, too complicated. But sometimes hesitancy to buy is not about the seller and the seller’s service, but the buyer’s internal thought processes.
More specifically, I am curious about why people don’t buy into a process that they know, in their heart of hearts, is one that they not only want, but also need for the development and growth of their business.
The need for what is called ‘strategic planning’ is recognised as being a cornerstone of developing, running and growing an organisation. There are plenty of trite quotes, such as, “failing to plan is planning to fail” and so on. However, at the core it is pretty much universally recognised that it is better to have a plan than no plan. And it is better to have considered the various options while being aware of the changing pressures in the business environment. I call it making your mistakes on paper.
Despite strategic business planning being almost like “motherhood and apple pie” (in other words, a good thing, something that is required), I’m still astounded at how so many people manage to delay or put off the process. This is madness, because a little bit of thinking and reflecting can help to direct and focus one’s actions on what is important and understand one’s priorities.
Copyright © Robert Craven 2014. Robert Craven is a keynote speaker and author of business bestseller Kick-Start Your Business. His latest book is Grow Your Service Firm.
He also runs The Directors’ Centre, helping growing businesses to grow.
When trading internationally, translation is an essential tool. Materials translated accurately by humans have the potential to greatly improve conversions when compared to computer-generated translations. There are numerous factors that underpin high-quality translation, so here is our advice if your business needs translation services…
Mother-tongue translators offer skill and knowledge that can’t be matched. They have an unrivalled familiarity with their own language, and can pick up on nuances that someone who’s only been speaking the language for a few years might miss. Mother-tongue translators can ensure proper localisation. Countries that use the same language still have localised differences, of course. Mother-tongue translators will also be more culturally aware and able to spot whether words or phrasing will offend. They will also have a better knowledge of structure, because some dialects use shorter sentences, while the opposite is true for others.
Although using proofreaders has become less common as a result of the ‘digital revolution’, they’re essential when translating important business materials. One mistake in a technical document, for example, could have disastrous consequences. Professional proofreaders ensure that the translation is accurate and of the highest quality. They should prevent unprofessional-looking spelling mistakes from creeping in, while awkward phrasing or poorly written sentences can be misleading.
Your translators should have a relevant qualification or specialist certification. If someone’s made the effort to obtain a post-graduate diploma or a degree in a foreign language, they’re obviously committed to their craft and are likely to have a professional attitude to their work. Where possible, ensure that they belong to a recognised translation body (eg The Institute of Translation & Interpreting).
Work only with translators with at least five years’ experience, which is normally enough time for them to develop their skills (though more experience is better). Try to ensure that the translator has in-depth experience of translating for your sector. If they don’t, they’ll struggle with technical terms and industry-specific references.
Translation is essentially a simple process, however, it can very quickly become complicated if too many people get involved. For each piece of work, have a project manager tasked with ensuring that everything is completed on time. Also, use one experienced proofreader and give them the maximum amount of time to complete each piece of work.
Corrections are often stylistic and therefore subjective, so it’s important to ensure that there is a specified style guide for your translation work. Your editorial style preferences should be clearly explained in advance so there can be no dispute later on. These can range from whether bullet points should use complete sentences and job titles capitalised) to font use. Even basic documents require style guidance, so confirm your preferences in advance if you want to avoid wasting time, effort and money.
Copyright © 2014 The Language Factory, which specialises in translating materials across a range of industries.
Whether you’re a sole trader or manage many employees, you must ensure that important work gets done to a high standard and on time. So how do you prevent important tasks from being neglected?
Share the load with people who are stronger in areas where you are weaker. The work will get done; you’ll feel less stressed; and your business will benefit.
The tasks to delegate are the ones that are least enjoyable and require less-skill. Why? Because they are: easier to train others to do; cheapest to hire for; and often create the most distractions.
Before you hire, define the role along with responsibilities and desired output. Then match that against a few key considerations:
Introducing a system is critical if you want to ensure tasks don’t fall through the cracks. It will also you help you manage your team.
Create concise but comprehensive documentation and it will feed back into your business by making the training of new hires a breeze, ensuring your business runs without interruption. Remember to keep it concise and simple:
At the London Coaching Group, we have an efficient team that works very closely. And we exchange barely any emails.
What you need:
You then create column headings for:
So how do we use this?
Whenever a task comes to mind, I, as the team leader, add it to the spreadsheet straight away. My team then fills in the fields accordingly. Once a task has a "Date complete" I double-check the task. Once I've double-checked and it's done, I delete it from this list. Only I can delete.
My team and I keep this document open during our working day. It acts as our communal 'to-do' list. Everyone is aware of the status of all other projects, which makes meetings a breeze and ensures nothing falls through the cracks.
By using the tips and tools above you can run your business and your projects smoothly and efficiently. You will be 100% in control of each project, which reduces stress and that feeling of a ‘heavy load’. So you’ll have more time to work on your business and its future.
Copyright © Shweta Jhajharia 2014. Shweta is an award-winning business coach and founder of The London Coaching Group.
Although they can sound like a waste of time, effective team meetings are essential for all new (and existing) businesses if they are to reach their potential. They can help you leverage the collective intelligence in your business, as well as move the team forward cohesively.
Ideally you should have more team meetings, not fewer. This is because effective meetings lead to:
But what should you avoid if you want to ensure effective team meetings?
There are four important elements that need to be implemented if you want an effective team meeting:
Be really clear. Are you strategising or discussing operations? What do you want to get out of this meeting? Everything stems from the purpose.
As the leader of the meeting, you should make your agenda sharp – and make sure you stick to it.
Keep to the purpose and agenda. Otherwise you could spend half your day in team meetings without actually getting anything productive done.
If you want meetings that will move your business forward, the right people need to be present. This will come naturally if you move through the previous steps. Once you know the purpose and agenda for your meeting, it becomes clear who needs to be there – and who is only going to be wasting time if they attend.
Every meeting is different and will have unique requirements, so you need to be flexible with your structure. However, these elements are common to all effective and productive team meetings.
Above all, before every team meeting, ask yourself one simple question: "What do I want my team members to achieve after this meeting?" You will be amazed at the clarity that answering that one question will bring – and what a difference that will make to the meeting and its effectiveness.
Copyright © Shweta Jhajharia 2014. Shweta is a multi- award-winning business coach and founder of The London Coaching Group.