Talk Business July 2012

W W W . T A L K B U S I N E S S M A G A Z I N E . C O . U K

TALK BUSINESS JULY 2012

FOR THE ENTREPRENEUR

BY THE ENTREPRENEUR

Power dressing

3 of the smartest business looks

A capital idea

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Julie Meyer and Karima Serageldin lift the lid on the wonderful world of venture capital

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16 Inside 09 Introduction

13 News & events

Focus on success 16 Face on the cover Ariadne Capital directors, Julie Meyer and Karima Serageldin 22 Take one company RationalFX and Xendpay.com

102

Focus on marketing 68 To market, to market…

Kimberly Davis’ debut column 71 How to sell chocolate Great products still need marketing 72 Up close and personal The power of personal branding

25 Introducing…

TB grills an up-and-coming entrepreneur

76 Let me entertain you Achieve a great marketing video

27 12 steps to success Carly Ward’s new column

79 You’ve got mail Be more inbox savvy

30 The interview This month: Imagine Cruising founder, Robin Deller

81 Word up Word of mouth marketing

33 Book reviews

85 Birth of a salesman Lee McQueen on recruiting sales staff

130 The daily grind Jamie Murray Wells

Focus on money 36 Don’t be late…

Avoiding late payments 38 The changing face of the pension Anticipating auto-enrolment 41 Growth champions How SMEs are driving growth 43 The eco-investment Green ways to invest 46 Out of the box A look at the patent box

87

64 Keeping it in the family The pitfalls of the family business

48 Cashflow is king Save if you want to survive

Focus on strategy 50 How green is your office?

How to save money and energy 53 Rebrand your brain Change your thinking says Rich With 55 The business of blogging Writing the professional blog 57 Babies and boardrooms Claire Young contemplates motherhood

Focus on people

87 Looking the business Update your business wardrobe 91 At your service The science of customer servcie 93 Embracing change Recruitment benefits of remote working 97 The two-year itch Unfair dismissal qualifying period 102 Secret diary of an entrepreneur Helen Buteux’s business diary

Focus on technology 105 Think BIG Investing in IT 108 Access all areas Accessibility on the web 112 Tablets to sigh for The best tablets on the market

Focus on franchise 115 Franchise news 116 Spotlight énergie fitness for women 118 Take one franchisee ZipYard’s Richard McConnell

59 Managing your brand 121 Take care…

Stefan Boyle on brand consistency Falling foul of the franchise agreement 62 Top tips: social media Improve your online presence talkbusinessmagazine.co.uk 07

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09/07/2012 14:34

Comment

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It’s a man’s world?

EDITOR

Helen Coffey helen.coffey@astongreenlake.com DESIGN

Stephanie Allingham stephanie.allingham@astongreenlake.com Ross Trigg ross.trigg@astongreenlake.com PRODUCTION COORDINATOR

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Damien Ward damien.ward@astongreenlake.com Trystan Hurley Trystan.Hurley@astongreenlake.com FINANCE DIRECTOR

Stephen Jones stephen@astongreenlake.com MANAGING DIRECTOR

Jay Boisvert jay@astongreenlake.com Circulation/subscriptions: UK £40, EUROPE £60, REST OF WORLD £95 Circulation enquiries: Aston Greenlake Limited T: 0203 617 4680 Talk Business is published 12 times a year

by Aston Greenlake Limited.

Floor 8, 6 Mitre Passage Peninsula Central Greenwich, London SE10 0ER T:02036174681 ©Copyright 2012. All rights reserved.

No part of Talk Business may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the prior written consent of the editor.

Talk Business will make every effort to return picture material, but it is sent at owner’s risk.

The subject of women in business has been cropping up quite a bit in the media lately. First there was the idea, hotly debated, that we should have quotas to get more women on non-executive boards. Next came a survey which found that the natural skills men and women bring to the table are complementary, suggesting that organisations should aim to create a balance of both types of leadership in order to succeed.

Why is it that, despite huge strides forward, we’re still so behind in this area? Talk of quotas to even up the scales is all well and good, but why do weneed quotas in the first place?

It’s something that is never too far from my mind, in part because I am a woman (at least I was last time I checked), but mainly because I now meet a huge amount of entrepreneurs and CEOs every month. And let me tell you, it’s not long before you notice a pattern beginning to emerge; nine times out of ten the person opposite me, casually sipping a cappuccino and telling me all about their plans for international expansion, is a business man.

Which is why this issue I was thrilled to interview entrepreneurial powerhouses Julie Meyer and Karima Serageldin from Ariadne Capital for our Face on the Cover interview (page 16). Two incredible women, who have both managed to navigate their way through the world of big business without considering for a moment that their gender might hold them back. It was hugely inspirational to hear their story, and meeting them left the clichéd idea of the female entrepreneur being the mum who runs a cupcake business out of her kitchen between school runs, firmly in the past. Sure, there’s nothing wrong with this picture – but it’s essential that we remember that women are not limited to the realm of domestic, part-time entrepreneurs, as Julie and Karima demonstrate every day.

Another inspirational woman to join the Talk Business team this month is Kimberly Davis, former star of The Apprentice and marketing whizzkid, who shares her wisdom on page 68. Our regular columnist and business brain Claire Young also gives us food for thought, contemplating whether it is possible to ‘have it all’ as she prepares for impending motherhood.

Whether a woman in business or not, this month’s issue is, as always, stacked with ideas and inspiration to help you run and grow your business.

Enjoy,

Helen Coffey Editor

Due to the nature of the printing process, images can be subject to a variation of up to 15 per cent, therefore Aston Greenlake Limited cannot be held responsible for such variation.

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Contributors

Meet TB’s superwomen Kimberly Davis is a highly accomplished marketing expert,

author, business mentor and speaker.

During her career, she has worked with celebrities and some of the most influential people in the world.

Originally from New York, Kimberly moved to the UK in 2004 and set up Sarsaparilla Marketing. Strong opinions and a determination to restore credibility to an unregulated industry have earned Kimberly the reputation as “the anti-marketing marketer”.

Claire Young, The Apprentice finalist, says life has got a lot

more interesting since the boardroom. She now devotes her time to School Speakers, providing motivational speakers for schools, colleges and universities, and her social enterprise Girls Out Loud. The aim of this project is to inspire girls from 13 to 18 to raise their goals and aspirations.

Likes: Holidays, time with family and friends, cinema, horse riding, reading, fashion. Dislikes: Liars, cheaters, laziness, people who play it safe, those who are flaky and faff!

Léonie Watson is director of accessibility at Nomensa.

A passionate advocate for humanising technology, web standards and digital inclusion, she is a regular columnist for .net magazine, frequent conference speaker, and occasional guest on BBC Radio 4. She is an experienced accessibility consultant and enterprise accessibility strategist, working with Procter & Gamble, Lloyds TSB, Great Ormond Street Hospital, and BSkyB. Her specialities include strategy and policy development.

Kathy Carter is a PR and marketing consultant based in Kent.

She has a unique skillset, gained from working for over 20 years in the fields of journalism, publishing, public relations, marketing, social media and broadcast, allowing her to coordinate hard-working PR and marketing campaigns that provide results-driven ROI for clients.

Her company, Sirenia Press Solutions, specialises in helping clients in the country lifestyle sector raise awareness of their brand, product or service.

10 July 2012

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News & events

DATES FOR THE

DIARY

Kent B2B Show 2012 3 July Ashford International Hotel kentb2b.co.uk Social Media Master Class 5 July Bath Ventures Innovation Centre bursttraining.co.uk Thebestof Business Show Case 7 July Newport Indoor Market thebestof.co.uk/newport Unleash the Business Within 13, 14 & 15 July ILEC Conference Centre, London unleashthebusinesswithin.co.uk The Business Growth Show 26 July Sachas, Manchester thebusinessgrowthshow.co.uk

LINKEDIN HACKED THE PROFESSIONAL SOCIAL networking site, LinkedIn, confirmed that six million users’ passwords were leaked when it was hacked last month.

The passwords, stored in encrypted form, were accessed by hackers and posted on the Internet, with the hackers inviting others to assist in decrypting them.

The site has assured users that the compromised passwords will no longer be valid, but it is still important to reset all login details.

A lot of web users have the same password for different services. Some may use the same password for a social networking account as for their email, or even online banking. In these cases, users are advised

to update all of the services on which they use that password.

Mike Newman, CEO of digital security company my1login, said: ‘Someone who has access to your LinkedIn account could potentially damage your professional and brand reputation. Those with weak passwords are extremely vulnerable as these will be very quickly decrypted. To protect yourself, change your password immediately and, if you use the same password on other sites, you should change those too. Using different passwords isolates your exposure should one site be compromised. Make your passwords complex, a strong password will be much more difficult to decrypt making it harder to access your account.’

DIFFERENCES BETWEEN

MALE AND FEMALE LEADERS REVEALED MEN AND WOMEN have different leadership strengths, and organisations need a balance of both to be truly effective, claims a new study.

Talent Innovations analysed the results of 14,000 UK leaders and managers to identify the differences in how men and women rated against a set of 18 leadership competencies. The results show that men are more strategic but women may make better project managers.

Women score higher in the competencies of planning and managing activities, respect and empathy for others, and personal responsibility.

Conversely, men score higher in strategic vision, commercial focus and personal impact.

The study also revealed

how the sexes differ in their assessments of each other.

Women are inclined to be more generous in the way they judge their colleagues while men rate other men higher in the ability to grasp complexities and innovation.

Elva Ainsworth, MD of Talent Innovations, said: ‘Men and women tend to excel in different aspects of leadership. On one hand, this study highlights the general areas in which men and women need leadership development. However, on the other, it suggests that the natural styles of men and women are complementary. By creating a balance of both types of leadership through boardlevel diversity, organisations can bring about peak performance.’

For more information, visit: www.talentinnovations.com talkbusinessmagazine.co.uk 13

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News & events

ICO LAUNCHES IT SECURITY GUIDE

FOR SMALL BUSINESSES THE INFORMATION COMMISSIONER’S Office (ICO) has published a new guide for small- and medium-sized businesses, showing a series of clear, practical steps they can take to help make their IT systems safe and secure.

The guide is designed to help smaller businesses keep personal data secure, and avoid serious data breaches that could result in a penalty of up to £500,000 by the ICO. Information Commissioner, Christopher Graham, said: ‘Since November 2010 the Information Commissioner’s Office has had to serve civil monetary penalties totalling over £1.5m on organisations that failed to take the necessary measures to keep people’s information secure.

‘This guide aims to support these companies by providing a starting point and recommendations that cost little to adopt, but can significantly reduce the risks of a serious data loss and the reputational and financial damage that can result.’

A copy of the guidance is available to order at: www.ico.gov. uk/tools_and_ resources/ request_ publications.aspx

REGISTRATION OPENS BUSINESSES COULD LOSE OUT DURING OLYMPICS UK COMPANIES ARE failing to prepare for the major disruption this year’s Olympics could cause, according to new research.

Almost 90% of small- to medium-sized businesses admitted they had done little to plan for the predicted upheaval the six-week tournament will create for customers and staff.

The survey was carried out by network support company Lifeline IT as part of an initiative to raise awareness with its clients and offer them guidance on how to ensure they are best prepared for the Games.

Lifeline IT founder and director, Adam Woolf said:

‘The Olympics is a fantastic opportunity for business, but at the same time it also presents some logistical challenges. Effective planning now will save problems in the long run – simple things such as checking staff have the network infrastructure to work from home or making sure major IT systems works are carried out in advance of the Games will be hugely beneficial.’

The London Organising Committee of the Olympic Games and Paralympic Games has guidance for businesses on what they can do to prepare for the event. Visit: www.london2012. com/business

FOR DISCOVERING

START-UPS COMPETITION REGISTRATION FOR THE Discovering Start-Ups 2012 competition is now open, Cambridge Wireless and Silicon South West has announced.

The competition will take place on 21 November and will be supported

by Google, Rohde, and Schwarz and SetSquared Partnership.

The Discovering Start-Ups competition is in its third year and, while the format has changed slightly, the principles remain clear: to promote technology start-ups and create a platform for them to network and make contacts.

‘We are very pleased to be running the competition again in 2012, and especially to make it a national competition for all UK start-ups’, said Dr Soraya Jones, CEO of Cambridge Wireless.

‘The previous two years have been such an amazing success, and we have received gratitude from winners and non-winners alike.’

To enter, visit: www.cambridgewireless.co.uk/dsu

14 July 2012

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05/07/2012 09:50

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09/07/2012 17:34

Focus on success FACE ON THE COVER

NOTHING

VENTURED…

It’s two for the price of one in this month’s Face on the Cover, as Helen Coffey meets the phenomenal women behind Ariadne Capital, online Dragon, Julie Meyer and her business partner, Karima Serageldin

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Focus on success FACE ON THE COVER

I

feel a little intimidated on my way to interview the duo behind Ariadne Capital, the venture fund responsible for supporting countless digital start-up successes. I have good reason to be. Aside from co-directing the fund, both of these frighteningly capable businesswomen have somewhat enviable CVs to put it mildly: Julie Meyer, in addition to being one of the BBC’s online Dragons, has been named one of INSEAD’s Top 50 Alumni, Ernst & Young Entrepreneur of the Year, TIME Magazine Digital 50, one of WIRED’s 100 and one of the Top 30 Most Influential Women in Europe. In between accepting accolades she somehow found time to start both Entrepreneur Country and First Tuesday, the network of entrepreneurs which was sold in 2000 for $50m.

Partner Karima Serageldin isn’t doing too badly either.

Having spent 10 years leading product innovation and development in the telecoms sector, she drove 80% of Pipex Communications product revenues and was instrumental in the customerbased acquisition of the Cable and Wireless arm, Bulldog, as well as executing global partnerships with start-ups and corporates such as Cisco, Sun Microsystems & GE Capital. Like most people, I can only marvel at this plethora of accomplishments when compared to my own set of paltry achievements.

It is tempting to assume that there must be a flip-side, that with great success comes great sacrifice; but Julie and Karima are all enthusiasm when it comes to the subject of venture, talking a mile a minute with genuine passion about their work. It’s clear that Ariadne is much, much more than a day job – it’s a vocation.

‘We’ve had more successes than we’ve had failures, and it’s a great place to work, and I learn from people every day,’ says Julie with conviction. ‘For

me that’s the best thing that could ever happen.’

One Brit, one American, they bring very different skills and mind-sets to the table. United though, they seem nigh on unstoppable, having developed not only a thriving fund, but a whole new way of thinking about venture – an ethos of strategically teaming start-ups with corporates and netting a “win” for all parties. And with Julie’s new book Welcome to Entrepreneur Country out this month (see page 33 for our review), it looks like we’ll be seeing a lot more of these extraordinary women.

The public have an idea that VCs are just like Dragons’ Den. There must be more to it than that?

J: A lot of people

misunderstand venture. They think they invest in this thing, and we’ll just hope maybe if Peter Jones is involved it will end up on the shelf at Tesco.

But it’s much more complicated than that. We’ve worked with some entrepreneurs for eight years now. But we see very much that our role is to work to back the entrepreneur, it’s about them, not us. A lot of venture capital firms want an entrepreneur they can keep under the thumb. But what we want is the strongest entrepreneurs who are going to work almost obsessively to create a great company. You don’t want to control energy, you want energy to hit the market, right?

K: You mentioned Dragons’ Den, and I think it has been great, in as far as it’s driven the visibility of venture and entrepreneurialism for lots of people who just thought, ‘oh, it’s banking’, which it really isn’t. There is an impression generally in the real world I think, that venture capitalists are cut throat and ‘them and us’, but actually we find that a lot of the companies that come to us want to work with us because we’re allies.

So you have a good relationship with the entrepreneurs…

J: That doesn’t mean you

“If you find a job that you love, you never work again a day in your life”

aren’t tough; sometimes people can misconstrue that. It doesn’t mean that you don’t have firm views, it doesn’t mean that you don’t keep people from doing crazy things. But there’s no conflict between being supportive and being strong.

K: As a venture capitalist there are a number of different stakeholders who you have to address – your investors, your companies, your entrepreneurs.

Part of it is just explaining the rationale behind what you were thinking, and being reasonable but being firm on the things you are willing to compromise on and the things that you can’t.

Do you think there are VCs out there who take advantage of small businesses that need capital for growth?

J: There may be, but we don’t

“You have to have a tremendous amount of self-belief when you face problems”

work with them.

I think there are bad people in every walk of life. You have to be better; it’s more difficult to work towards a win-win for everyone.

If you think about it, you’re trying to create what we refer to as ecosystem economics: that’s how you make it in everybody’s interests to win. That’s difficult to do. It’s part of the reason why people become sharks and try to win and you lose – because it’s easy.

Did you both always want to be entrepreneurs?

J: I don’t think I actually knew

I was an entrepreneur until I was about 34 years old!

K: I don’t know if I’d describe myself as an entrepreneur per se, in the strictest sense of the term. But some of the characteristics that make an entrepreneur I’ve definitely always had. I think as an entrepreneur, whether that’s externally starting up your own business, or what I call an “intrapreneur” within the  corporate arena, you have to

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Focus on success FACE ON THE COVER

have a tremendous amount of self-belief when you face problems. You have to believe very much in the vision that you have.

How hard is it to get people to invest in the fund?

J: A lot of people in the

venture capital world want to become part of things when they’re already created. If I could count the number of people who said: ‘Well you know Julie, when you get that fund up and running I’ll be happy to help you invest it.’ And I hear that constantly…it’s really boring and I just want to say: ‘Listen, it’s not that I need your help investing the money – at that point there’s 20,000 people who would help me invest the money.’

K: We looked at it and developed a structure to the fund that matched the requirements of the investors as much as it did the entrepreneurs, who didn’t just want dumb money. We developed a structure that met the requirements of all the different stakeholders, and as a result of that we strongly believed that it would be hugely successful. And success means success for all the stakeholders: the companies, the investors and hopefully ourselves as well.

has taken £50m in capital, and the revenue is £1m and you’re trying to get that company sold, just to make twice your money you’re going to have to sell that business for over £100m. And what are the chances of selling a £1m revenue company for £100m?

What do you look for in a company that makes you want to invest in them?

J: We look for great people,

we look for people that have a track record of success – that doesn’t necessarily mean that they’ve sold their business for hundreds of millions of pounds, but they’ve been consistent about something in their life.

My life – Karima I’m watching: Bourne Identity I’m reading: The Social Network I’m listening to: Kimberly Hale I’m surfing: gigaom.com There can be some failures in there too, there typically are, but there has to be something exceptional about the person.

By definition you’re backing a horse; what’s that horse done, has he ever won a race?

K: In a lot of the early meetings it’s a blend of really starting to get to know the

“It’s kind of like giving your children too much money”

How much money do you give your start-ups?

J: A lot of people are just so

in love with money that they think money will solve all the problems, and they overfund start-ups. Before a company has hit a milestone, before they’ve got their product out, before they’ve actually gone to market, if you give them £10m they’d probably waste a lot of it. It’s kind of like giving your children too much money. You give your 14-year-old £20m, what are the chances of him or her growing up with a healthy respect for money?

K: Overfunding is bad for the investor too: if a company

“Quotas aren’t the solution, they suggest tokenism”



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Focus on success FACE ON THE COVER

people in front of you, and there is an element of gut. Do I believe that this person is going to deliver, do I believe that this person has a vision?

And then there is the more firm understanding of what does this competitive landscape look like – who’s going to be their distribution, who’s going to be their route to market?

What’s the most rewarding thing about venture?

J: A lot of people think that if

you wait until the company gets £1m-£2m in revenue, then it gets interesting. The real work is done in the early bits, figuring out the pathway you take. What the entrepreneur remembers is who was there when it was difficult, when there was no money on the table yet. We’ve built a business really about backing people before they were successful.

K: Sharing the journey is as much about being there when things aren’t great. The role we are playing is a sort of backstage one, because we are there to provide a platform. Actually you don’t own it and say, ‘I did that, it’s mine.’ That’s not the goal.

Your payment isn’t only the pounds that you get back – it’s also sharing that journey, and seeing what the company from its early days has become.

I’m sure you get asked this all the time – but have you ever found it difficult being a woman in business?

J: I’ve never been a man so

My life – Julie I’m watching: Moneyball I’m reading: Theory of Disruptive Technology in Adoption I’m listening to: Billy Paul I’m surfing: All over!

I can’t really compare it! But the way I look at life is I always try and make everything an advantage. As the world gets more networked, women are wired naturally to think about the group. I’m not saying we’re angels, but I do think that women go in seeing how they can make it work for everybody.

That’s an advantage. I’m sure there are disadvantages too, but I honestly never give a thought to it, because then you get focused on the negative rather than thinking what you can bring to the world.

K: I’ve always been in male-dominated industries.

When I started in the telecoms industry, I genuinely never experienced any issues between male/female concerns or whatever. There were a lot of conversations recently about women quotas on boards, and in Italy they’ve passed a law where one third of the board

has to be female or something, and I think it’s ludicrous.

J: Why not two thirds – how did they come up with this number?! Maybe we let the men have one or two seats!

K: I think quotas aren’t the solution, they suggest tokenism. If you want to get more women into senior positions, programmes that really spearhead women in the organisation and skill them up would fare far better than saying you have to have one third of the board as female representatives – because when they get in that board room, no one’s going to take them seriously.

Is it hard to switch off from work? Is it always on your mind?

J: There’s that great expression, if you find a job that you love, you never work again a day in your life – and for me personally I never feel like I go to work ever. It’s so cool, I get to work with these really great people on ideas which I think are changing the world. Compare that to being able to take 10 weeks of holiday – maybe at some point in my life I’ll want to go sit on the beach. But I love ideas, and business for me is about ideas affecting the world.

Business is just an amazing, intellectually stimulating thing that I get to do every day.

K: I agree that whatever you’re doing you have to be very passionate about it, because if you’re not, you’re probably doing the wrong thing. I think even in your downtime – and I personally believe it’s important to have a work/life balance – it’s rare to completely shut off from work. But actually, for every person I think it’s important to understand what your particular work/life balance is.

Julie Meyer’s new book, ‘Welcome to Entrepreneur Country’, is out now.

Contact: www.ariadnecapital.com

20 July 2012

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12.06.12 11:22

Focus on success TAKE ONE COMPANY

I “I had no money to start the company whatsoever”

t’s easy to forget in a world of globalisation, Goliath corporations and multinational conglomerates, but every big business started small once upon a time. M&S began life as one Polish refugee with a trestle table of wares and a sign saying: “Don’t ask the price, it’s a penny.” When Mr Sainsbury opened his first small dairy shop in Drury Lane, with the aim of producing the best butter in the Capital, little did he know it would spawn a supermarket chain employing almost 150,000. Out of tiny acorns and all that…

RationalFX is just another example of a business that has come from humble beginnings and gone on to achieve

impressive growth, morphing from a two-man enterprise based in Brighton into a multimillion pound turnover business based in the City, with offices in Birmingham, France and Italy.

And all in just seven years.

What started as a very small enterprise is now one of the leading companies allowing private clients, businesses and corporates to buy or sell currencies online.

Founder Rajesh Agrawal is certainly no stranger to overcoming the odds, having grown up in a small Indian village before leaving at the age of 22 to pursue web design in North India, and eking out a living on £63 a month.

After being headhunted by a

London-based foreign exchange broking firm, he learnt all he could before setting up shop with business partner, Paresh Davdra.

New start-ups rarely have it easy, and RationalFX was no exception. Problem number one: getting start-up cash for a brand new business venture was a no-go.

‘I had no money to start the company whatsoever. I approached a couple of banks and told them that I needed money to start a business – they refused,’ says Rajesh. Clearly, this called for more cunning tactics.

‘I went back to them saying that I needed to buy a car, and they immediately offered me a personal loan of £20,000 (albeit at

From the two-man operation that couldn’t get a bank loan to a multi-million pound turnover company, we take a gander at currency trading business, RationalFX

Special FX

22 July 2012

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05/07/2012 10:13

Focus on success TAKE ONE COMPANY

a very high rate of interest).

I put £4,000 towards starting the business and used the balance to live off, along with my credit cards, for the next 18 months until I started paying myself a salary.’

A high-risk strategy indeed, but coming from a financial background, Rajesh was more careful than most in the early days.

‘From day one I was extremely cautious of costs, and since we were operating on a very low cost base, not even paying ourselves, we managed to turn profits very quickly,’ he says.

Problem number two: coaxing customers away from their “trusted“ bank was anything but straightforward.

Things are a little different in today’s market – after the financial dramas of the past few years, consumers are less in the thrall of their bank and far more open to shopping around.

But when RationalFX started, people were still wedded to using the same old bank that they (and in all probability their parents) had been using for years. Winning investors’ trust as a tiny, unheard of company was no mean feat.

‘Since we are in the money transfer business, by far the biggest challenge was to win the confidence of customers.

People trusted their bank and it took a while for us to convince them that their money was totally safe with us.’

Being an entrepreneur is all about creating solutions though, not ignoring problems and hoping they’ll disappear – at RationalFX they knew they had to meet this issue head on.

‘Winning the confidence of customers is not easy or quick, and particularly in our business as we deal with their money,’ says Rajesh. ‘However, if the customer has been referred by a source they trust, then it becomes so much easier – so we developed an Affiliate Programme and worked very hard on developing a referral strategy.’

It worked. They soon saw incredible results, with over 70% of their customers being

referred by either another customer or an affiliate.

With their main obstacle, if not eliminated, then at least significantly reduced, the company began to thrive. Once clients got past their reservations, they could appreciate the genius behind the service that RationalFX was offering.

‘The traditional methods of transferring money, like the banks, cash-to-cash money transfer networks etc. all tend to be either very inefficient and expensive or simply overcharging.

‘For businesses, the cost of transferring money could be as much as 5%, and for individuals as much as 20% of the amount that they are transferring.’

The whole inspiration behind RationalFX was to cut down on these sometimes extortionate costs: ‘We use technology efficiently, work on lower cost base and pass on the price benefit to the customer saving them a lot of money. That’s our simple idea.’

It may be simple, but it’s effective, and the benefits of using a specialist rather than a traditional bank are so clear that customers often come back for more or refer the service to friends and colleagues.

As someone who started a business from scratch, with no support or encouragement from the big banking institutions, Rajesh understands the difficulties that come with going it alone: particularly in troubled economic waters. However, he remains optimistic and full of the passion and drive that first inspired him to start his own business.

‘While lots of people become very risk averse in a difficult economic climate, the truth is that most opportunities are created in difficult times,’ he advises.

‘New, innovative products come about, new companies emerge – there is a shake up.

Big companies fall, giving way for newer and smaller ones to march ahead – so keep that enthusiasm going, be creative.’

Having grown RationalFX to a 70-strong team, Rajesh

“The truth is that most opportunities are created in difficult times”

Vital statistics: Date the company was founded: March 2005 Start-up capital: £4,000 Current turnover: £550m (expected this year) No. of employees when company started: 2 Current workforce: 70 Biggest achievement: Rolling out our retail money transfer service into 11 languages within 6 months Toughest challenge: To keep up with the fast growth and diverse range of international customers Advice for start-ups: Belief is contagious. If you believe, others will

recently launched Xendpay, a leading provider of international payments and worldwide money remittance online, helping individuals to save money when sending payments around the globe. It’s the first company to have launched a money transfer platform with worldwide coverture and fully integrated online capabilities – enabling clients to manage their payments 24/7 wherever they are – and is going from strength to strength.

So you could forgive Rajesh for focusing on the future, with plans for further international expansion on the horizon; but he is proud of where RationalFX has come from, not just where it’s going.

‘Today I look back, and it is very satisfying to see how a company started by two individuals with little money has been a force to change the multibillion pound money transfer industry for good, and millions of people will benefit from it.’

Contact: www.rationalfx.com www.xendpay.com

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Focus on success UP-AND-COMING

Talk us through the Bloomtrigger concept…

Bloomtrigger is a communityinterest company pioneering a visual model of online fundraising, with the objective being to empower people to help protect the rainforest in a simple, affordable and creative way. We sell a virtual currency called blooms , where 1 bloom costs 50p. People plant their blooms on the map of the rainforest on the area they choose to protect.

What’s your vision for the future of Bloomtrigger?

We recently completed Bloomtrigger’s pilot phase, and are now ready to scale up Bloomtrigger’s model. Ultimately our goal is to raise £100m to protect one million hectares of forest worldwide.

Introducing…

James Sutton

We’re all for young talent here at TB, so much so we’ve dedicated a regular feature to it. This month we catch up with Shell LiveWIRE finalist, James Sutton, who fills us in on his online fundraising business, Bloomtrigger

M

ost people wouldn’t set their sights on trying to protect the rainforest as a first foray into the business world – but then again, James Sutton isn’t most people. Having set up Bloomtrigger, he has completed a pilot project in five UK primary schools, raising £5,000, which will help to protect 50 hectares of the Peruvian Amazon.

What’s your advice to young entrepreneurs trying to get an idea off the ground?

1. Become an expert on whatever your business idea is.

2. Network and focus on making strong relationships with people.

3. Tell people about your idea – don’t keep it to yourself.

4. Don’t be afraid of looking like a fool.

5. Believe in yourself, believe in your ideas, and believe in your ability to inspire others.

If you weren’t an entrepreneur, what would you be doing today?

I studied architecture at university and design is my passion. I would be very happy being an architect, designing some beautiful – and of course highly sustainable – buildings around the world.

What’s top of your bucket list?

It has to be going into space. I’m confident that Richard Branson will keep developing his space tourism business, so that by the time I can afford it, he will have got the ticket price right down and made it a bit more environmentally friendly.

My life I’m watching: Good Will Hunting I’m reading: Nova Historia Critica do Brasil I’m listening to: Steve Hauschildt I’m surfing: blog.iso50.com

Do you think all businesses have a responsibility to operate sustainably?

Absolutely. I think every business has a responsibility to adapt their business model to be as sustainable as possible. All the switched-on entrepreneurs are developing the sustainable business models of the future.

Adapt or die…

What have been the biggest challenges you’ve faced as a young entrepreneur?

The biggest challenge I have faced is the same all young entrepreneurs face: a lack of experience. You can have all the good ideas, determination and commitment in the world, but experience is something that comes with time and learning from doing.

What gets you out of bed in the morning?

Right now it’s coffee and studying Portuguese. I am currently living in Brazil and if I do not make the effort to get out of bed early and study, then it simply does not happen.

What’s been your proudest moment?

A few years ago I ran the Berlin marathon: it represented a personal milestone for me. The year before I had undergone some major heart surgery. Finishing that marathon restored my belief in myself that you really can do anything if you put your mind to it.

Contact: www.bloomtrigger.com

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05/07/2012 10:17

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06/07/2012 11:37

Focus on success 12 STEPS

Founder of YES Network, Carly Ward, talks us through the first of her 12 steps to success, the programme designed for prospective entrepreneurs

The steps to success: Step 1

“There were no decent jobs, I had no money and could have ended up as just another statistic ”

I’m really pleased to be writing a monthly column for Talk Business. As a young entrepreneur, I hope what I write will be of use to other young people in business, but generally helpful to all you dedicated readers of course!

For those who may have missed my feature in the June issue of TB, I’ll give you some brief background. I returned to the UK after spending eight years in Spain, because the family business had to close due to the property market crashing. Having been back for four years, I studied beauty therapy at college because I was offered a job to work in a spa on a cruise ship. I came to the end of my course and realised I didn’t want to do that – I’d much rather be a passenger on the cruise ship! I wanted to become my own boss and run my own business, but I had no choice but to become unemployed and start claiming benefits. I was down the Job Centre for 14 months, but I actually spent most of my time proactively trying to start my business. Things were really tough: there were no decent jobs, I had no money and could have ended up as just another statistic, but during the hard times I kept strong and tried to concentrate on the solutions to my problems, rather than the problems themselves.

I spotted a gap in the market for a programme that teaches young people entrepreneurial, personal development and life skills. I couldn’t really find many resources to help me start a business, so I decided to create my own.

Together with my mum, who is my co-director, I wrote a training

programme called The 12 Steps to Success. It might sound like a cliché, but it literally was drawn up on the dining room table. It took a year to put together, and includes interviews with top entrepreneurs like Levi Roots (Reggae Reggae Sauce), Julie Meyer (Dragons’ Den online) and Adam Balon (Innocent). The programme after two years was approved as a nationally recognised qualification called Understanding & Exploring Entrepreneurship and, with lots of hard work, blood, sweat and the occasional tear, the Government agreed to make funding available for every 16-18-year-old at school or college in England to take the course. We also run the YES Network, which is Britain’s only network for young entrepreneurs under 35.

My columns over the next few months will focus on The 12 Steps to Success Programme.

Step 1 concentrates on the top seven qualities you need to be an entrepreneur: 1. Never give up 2. Be a decision maker 3. Set goals 4. Have confidence 5. Be a leader 6. Self-belief 7. Determination Focus on these qualities, take action and you will be sure to achieve success.

Contact: www.yesnetwork.co.uk Twitter @carlyyes @yesteam

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Why outsourcing makes financial sense…

V

irtually every owner managed business and SME organisation will lack all of the required expertise and necessary skill set needed in order to efficiently run their business. It’s not a failing of the individuals; it’s just that very rarely does one person (or a team of people) have all of the skills at the required depth that is often needed.

The simple answer may be to recruit a number of administrative people, your own PA, a book keeper, accountant, payroll manager and Finance Director to say the least.

Whilst some individuals like the thought of creating their own “little empire”; when it comes to good business sense – it’s rarely a decision that can be made early on in the lifecycle of a business. You are in business after all to make money, therefore the people employed in it must be able to generate enough revenue/costs savings to pay for themselves or add value.

Consider the total costs of employing an individual: an annual salary of say £20k once you have included social security costs, medical insurance, pension, sick pay and the such like could easily increase to £30k.

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One of the hidden costs that people often forget to consider is that of training and

JULYV1.indd 27

developing staff members. This can be hugely costly in terms of time.

And last but by no means least we must not forget the statutory obligations that all employers have when it comes to employees. Although these are totally necessary to protect the employees, they can be an extra overhead for many businesses.

Coupled with the fact that you very rarely get all the expertise that you require in one individual, employing the full house of expertise and knowledge that may be required in your organisation can prove to be an expensive exercise.

Compare and contrast that to the benefits that outsourcing can bring you: • You only pay for the service you need and use.

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If you select the right outsourcing partners then you are getting a significant amount of expertise on hand for when you need it.

to be a pure overhead (and generally is) therefore their costs will always be an issue. Quite often this person may lack the depth and experience to be able to take the accounts up to a standard acceptable for good and accurate management information, as well as producing year end accounts and tax computations.

Depending on the book-keepers ability and knowledge, there may be adjustments needed to be done for the year end of which the book-keeper will not be aware.

The business owner would then have to rely on maybe a firm of external accountants to do all of the extras that would be required. This will usually come as an extra cost to the business.

Outsource the book keeping and finance functions to professionals who become a virtual and integral part of your business then you have the opportunity to benefit from years or experience and a vast skill set.

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09/07/2012 09:15

Focus on success THE INTERVIEW

Rough waters How do you overcome a nationwide tragedy that affects your whole industry? Emily Ashwell talks to Imagine Cruising founder Robin Deller six months on from the day his business was turned upside-down

O

n Saturday 14 January, Robin Deller switched on the news to watch a tragic event unfold that would shake his industry to the core.

The breaking story was the sinking of the Costa Concordia.

For Deller – whose Swindonbased cruise company Imagine Cruising was only a year old – his first thought was to check whether it had passengers on board: it did. Thankfully the three passengers had all got off the boat safely.

Two days later, when the full scope of the tragedy unfolded, sales went into freefall at what is traditionally the busiest booking time of the year.

Deller’s company felt the impact of the news almost immediately. ‘We were still trading normally on the

Saturday, but on the Monday the telephones stopped ringing.

It was headline news for a long time,’ he said.

The nature of the travel industry means that world events can have a huge impact on bookings. Travel entrepreneur Deller, 44, has had huge success, but he has also learnt to quickly adapt to survive.

It was when he took a temporary job selling flights at Gemstone Travel while on three months’ gardening leave between construction jobs that he became hooked.

‘As soon as I started in travel I realised how much I hated construction. Travel was no longer just a job,’ he said. After only one month in the job, he was the top seller. With a new-found passion for his work

driving him forward, it didn’t take long for Deller to prove himself and work his way up the ranks.

Within one year at Gemstone, Deller became a manager and worked with John Kent, who went on to run Lastminute.com, and cites him as his inspiration: ‘He was passionate about delivering the best, regardless of the effort.’

He has used this inspiration as a manager, employing people on their passion rather than experience and then bringing out the best in them.

‘The knowledge and experience will come, but I can’t install the will to succeed,’ he said.

Deller soon began to understand how travel agencies worked and the seeds were sown for his first company. He worked out the figures and saw on paper

30July 2012

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Focus on success THE INTERVIEW

confirmation that he should run his own business: ‘When I did the sums, it seemed nuts to run the business for someone else but only earn a salary.’

Imperial Travel was set up in 1999. Deller, with three partners, secured staff, office space, and an ABTA number – but at the final hour, the bank refused the PDQ machine to take payments. It couldn’t trade.

Eventually the team provided personal guarantees, cashing themselves in on paper. Now Deller says: ‘I always plan for the worst case scenario.’

Business was booming, and after a year Deller wanted to expand, but his partners were more cautious. They parted ways. ‘The conversation about our future we had 12 months in was one we should have had before we started.’

Nine months after Deller set up his next company, Fast Track Holidays, the horrific terrorist attacks of September 11 forced him to do an about turn. ‘Within minutes the business died, phones stopped ringing for about three weeks,’ he said.

“We were still trading normally on the Saturday, but on the Monday the telephones stopped ringing”

“I always plan for the worst case scenario”

Talking to other people in the travel industry, he realised that there was one area where people were still booking holidays – the ski market.

‘Skiing was a hobby and people skied regardless.’ In just three weeks they built a ski website and started selling.

Cruising was just starting to become popular, and a new cruise line on the market called Ocean Village, aimed at first time cruisers, gave Deller the confidence to break in. The theory was that the knowledge of his staff would grow with the customers, and staff were encouraged to talk to regular cruisers when taking bookings to find out what they liked about certain ships and why.

‘Ski had shown that being a specialist was the right thing to do. If you are looking to be all things to all people, you will struggle to make money,’ he said.

As staff became more knowledgeable, the company began to sell more cruise lines.

In Deller’s words, they had ‘hit the jackpot’.

But then another problem struck. Rival agents started discounting the cruise to secure the sale by giving away their commission. ‘All of a sudden the commission structure didn’t hold up. We were making no more selling a cruise than selling a ski holiday. That’s where the business took a right turn.’

Instead of selling packages sold by cruise companies, Deller’s team started unbundling these holidays, adding additional elements such as stays on land, and repackaging – a term known in the travel industry as dynamic packaging.

By 2006, the business was turning over £40m per year.

It had grown to such a size that Deller decided to call in a financial director to help plan the future. He decided on a three- to five-year exit plan: ‘We had worked hard for a long time. The advice was that business doesn’t go on being great forever. The longer we left it, the more we were tempting fate.’ Coincidentally, a few

weeks later Deller had a call from Virgin Holidays, and Fast Track Holidays was sold in 2007 for an undisclosed sum.

Virgin’s targets were huge – 250% profit growth in year one, with Deller staying on as managing director for two years.

It was at Virgin that Deller says he learnt enormous amounts about achieving customer retention, marketing and public relations. He also learnt how to let go. ‘Fast Track Holidays wasn’t my business, it was my third child. Overnight that changed. It had a sell-by date.’

For Deller, there was no question that he would set up another travel company.

Imagine Cruising started in January 2011, selling cruises with added on experiences to appeal to the high-spend, longduration holiday market.

One year on, Deller has faced a new challenge with Concordia. His strategy has been to increase marketing spend to drive the business through. He was sure that, once the buzz had died down, the cruise market would bounce back. Something of a gamble perhaps, but the strategy has been successful, and business is finally back to normal.

Deller sees the future as limitless. He would eventually like other agents worldwide to sell holidays put together

by Imagine Cruising. But he’s under no illusion that it will be plain sailing.

Contact: www.imaginecruising.co.uk

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05/07/2012 10:23

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Focus on success BOOK REVIEWS

WELCOME TO ENTREPRENEUR COUNTRY: What it is, how to find it, why you should go there

by Julie Meyer

*****

In her new book, Julie Meyer asserts that Government currently operates in a “numbers-free” zone, leading the public to believe they have choices that actually do not exist.

She encourages industrial giants, or “Goliath” enterprises, to open themselves up to the innovation from the “digital Davids”.

Asserting that the world is going through a structural change akin to the invention of the combustion engine and its deployment throughout the economy, Meyer calls for society to understand that high-growth, technology-enabled start-ups are transforming big business.

She says: The future is clear for all Goliaths in all industries. If they refuse to cooperate with the digital Davids, they will be run over by them and then slowly drift into insignificance.

Britain needs a new era of “psychotic optimism” to pull itself out of its funk. Without the energy and innovation of these “Davids”, we risk a lost decade of economic turmoil. But if we decide to “follow the entrepreneur” as a society, the economy will grow and the society will harmonise.

We say: Julie Meyer is a woman who certainly knows what she wants, on a global scale, and

Entrepreneur Country tells the reader exactly why she thinks the “Davids” – high-growth small businesses – will inherit the earth.

The ideas in the book are truly revolutionary, and Meyer sets them out in clear chapters which break down how society is reorganising itself, from entrepreneurs backing other entrepreneurs to an ascendency of feminine power.

The book finishes with a manifesto for entrepreneur country, detailing what citizens of this new world believe. A thoroughly thought-provoking read.

Welcome to Entrepreneur Country is published by Constable, priced at £12.99 in hardback original

THINK BIG ACT SMALL:

How America’s best performing companies keep the start-up spirit alive

by Jason Jennings

*****

Think Big Act Small is published by Portfolio, priced at £11.99 in paperback original

Acclaimed management guru Jason Jennings explains why the best companies never stop acting like start-ups.

The best-selling author and his research team screened more than 100,000 companies to find nine that have increased revenues and profits by 10% or more for ten consecutive years.

The original book came out in 2005. In this fully revised and updated version, Jennings finds out whether his original companies have maintained their consistent growth through a recession.

He says: You’re about to learn what we discovered when we

went back – five years later – and plotted the progress of those companies we’d previously identified as being the world’s best at achieving continuous organic growth.

I revisited all the chapters.

You’re reading a fully revised and updated book. Study the lessons carefully and note their findings; make them your own and implement them in your company. I promise that you will experience revenue growth in your business like you could have previously only imagined.

We say: It’s incredible to read about these American giants, most of whom have

managed to fly pretty much under the radar. Jennings breaks their success down into 10 “building blocks”, from being humble to being adaptable. Having revisited the nine companies five years on, Jennings is transparent in this revised version, including bar charts which catalogue each company’s growth rate over the last 20 years.

The astonishing truth is that they have nearly all managed to maintain a 10% growth rate, despite the last few challenging years. As inspirational as it is practical, this book is a must-have for ambitious SMEs everywhere.

talkbusinessmagazine.co.uk 33

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Focus on success BOOK REVIEWS

THE DIGITAL BUSINESS START-UP WORKBOOK:

The ultimate step-by-step guide to succeeding online from start-up to exit

by Cheryl Rickman

*****

From the bestselling author of The Small Business Start-up Workbook, Cheryl Rickman brings you a thoroughly practical guide to starting up a digital business, covering the full journey from idea to exit, with easy-to-implement strategies to make your online venture an on-going success. With a combination of tips, exercises, checklists, anecdotes, case studies and lessons learned by business leaders, this workbook will guide you through each step of digital business.

She says: This workbook will give you a masterclass in

digital enterprise, enabling you to take advantage of the digital opportunity, avoid costly marketing mistakes and ultimately, gain and sustain that all-important competitive advantage. You’ll effectively learn how to put a great idea to work on the web.

Each stage, from planning and assessing your idea through to building your website, your team and your brand, and then making plans to sell your business, will be covered.

covers 12 steps, which take you all the way through the process so could be suitable for pretty much anyone, no matter what stage they’re at with their digital business.

It incorporates case studies and lessons learned from interviewing the founders of some of the biggest Internet success stories – but what makes this book really useful are the practical exercises peppered throughout.

We say: A solid, practical guide for launching, growing and selling your business online. It

The Digital Business Startup Workbook is published

by Capstone, priced at £12.99 in paperback original

SALES GROWTH:

Five proven strategies from the world’s sales leaders

by Thomas Baumgartner, Homayoun Hatami, Jon Vander Ark

*****

Sales Growth is published by Wiley, priced at £26.99 in hardback original

The challenges facing today’s sales executives and their organisations continue to grow, but so do the expectations that they will find ways to overcome them and drive consistent sales growth.

There are no simple solutions to this situation, but in Sales Growth, experts from McKinsey & Company provide a practical blueprint for achieving this goal by exploring what world class sales executives are doing right now to find growth and capture it.

They say: How do you beat the market today? To answer that question, we went back to the

best sources on the subject: the sales executives from companies around the world and across industries that have grown faster because they have put sales at the heart of their growth agendas.

These leaders explained how they were driving and sustaining growth, and they shared with us their experiences, successes and concerns. The collective perspectives of more than 120 sales leaders who know how to beat the market place is eye-opening.

We say: Not a book to pick up if you’re looking for a quick read,

Sales Growth takes a “sales as science” approach, providing an in-depth look at how the major players increase their sales year-on-year.

It assumes a certain amount of knowledge on the part of the reader (with a fair bit of sales jargon) and has a somewhat haphazard layout with charts, different coloured boxes and standalone quotes placed here, there and everywhere.

Having said that, it is eyeopening to hear from some of the world’s best on the subject of how they consistently grow their companies.

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Focus on money

It doesn’t always pay to be fashionably late.

Whether late payments happen by accident or design, they may soon be attracting penalties. Lucy Beck, Palette’s UK sales director, advises on how to regain control of your accounts

Don’t be late…

“If a business is consistently missing its payment terms, it needs to rethink its processes”

No matter what payment terms are agreed between businesses, it’s increasingly common for payments to be made late. A recent survey by BACS found that the average small business in the UK is owed £39,000, a figure that grew 10% in 2011.

Critically, firms are waiting an average of 28 days above their agreed terms for payment.

It’s not just an issue for smaller businesses: it resonates across the UK economy. SMEs with under 50 staff represent 99.2% of all UK businesses; with so many experiencing late payments their cashflow is being squeezed, reducing their willingness to invest in their own business, let alone others. It could be argued that the UK’s ongoing late payment culture is prolonging the current downturn, so it’s no surprise that so many businesses have asked the Government to help address this issue.

The most frequent excuse businesses hear for delayed payment is that there is a hold-up in their internal systems – 55% of BACS survey respondents were told their invoice was ‘waiting for authorisation’ or ‘being processed by accounts’. While this is viewed as an excuse, what if it’s true? That payments are genuinely delayed because of inefficient accounting processes or poor practice?

Late payment payback

Whatever the cause, if a business is consistently missing its payment terms, it needs to rethink its processes – not just from a desire to improve relationships with suppliers, but also because of upcoming legislation.

Thanks to intensive lobbying from influential UK industry bodies representing small businesses, the EU Late Payment directive will shortly be introduced in the UK, ahead of the original planned date. Aimed at reducing the burden of overdue payments by making 30-day payment terms mandatory, it will enable suppliers to levy penalties and interest on late settlements.

This may well be the catalyst for change in payment practice.

But how should companies ensure that their payment systems and processes can track and hit settlement deadlines?

Automatic payments

Having an automated invoice processing solution is a key step, as it moves invoices from paper documents towards electronic processing. Such automation need not be expensive, nor demand a significant upfront investment. Cloud-based solutions and outsourced services are available on a

per-invoice or monthly fee basis, making them accessible even to start-up firms.

The most important stage with these solutions is the matching of the invoice to its corresponding purchase order and supporting documents, ensuring all evidence for prompt approval and payment is available to relevant staff.

It’s usually these areas that are responsible for delays in manual accounting systems.

Automating accounts processes cuts the risk of duplicate or over payments, and helps ensure that settlement deadlines can be hit, avoiding penalties and friction with suppliers. This control also gives an insight into the real financial flow through an organisation, which can help financial controllers maximise return on business capital.

The fundamental point is to ensure that systems are integrated, allowing staff to track invoices through the payment cycle, and be aware of those that risk attracting penalties.

Contact: www.palette-group.com

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09/07/2012 15:13

Focus on money PENSION AUTO-ENROLMENT

A

“You must be careful, even if you don’t think you’re an employee”

uto-enrolment is on its way. Are you ready for it? This new legislation requires all employers to enrol their eligible employees into a qualifying pension scheme.

A qualifying pension scheme can be one specifically set up by the employer or the national scheme run by the National Employment Savings Trust (NEST). Either way, the contribution levels by employer and employee must meet certain criteria to qualify.

If contributions are paid to NEST, these payments will be phased in over a few years and will eventually reach 3% from the employer, 4% from the employee and 1% from the Government, via the tax relief received on the employee’s contribution – so a total of 8%.

Depending on how contributions are calculated via an employer’s own scheme, they may vary slightly on these percentages and will not be phased in.

If the scheme is a defined benefit arrangement, different qualifying rules apply.

The enrolment process will be phased in over a period of years, based on the size of the employer’s workforce. The country’s largest employers will already be in the throes of enrolling their employees and the whole process is due to be completed by April 2017.

While many employees will benefit from having pension contributions made on their behalf (assuming that they can afford their own contributions) there will be a small but important number of people – usually business owners or senior directors – that could be stung with potentially massive tax bills on their existing pension funds if they are inadvertently enrolled into their workplace pension schemes.

Such people will already have the maximum permitted pension pot, and will have

THE CHANGING FACE OF THE PENSION Andrew James, advice policy manager at Towry Wealth Management, explains the imminent changes to autoenrolment and what they could mean for company directors

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Focus on money PENSION AUTO-ENROLMENT

previously applied for the various forms of pension protection that have been available for those with maximum lifetime pensions following changes in pension legislation.

The lifetime allowance was introduced in April 2006 at £1.5m, increasing to £1.8m by April 2011 and reducing back to £1.5m from April 2012, and is the maximum value of pension savings that you can accrue during your lifetime without being liable to a freestanding tax charge. Between 2006 and 2009, it was possible for those adversely affected by the introduction of the lifetime allowance to apply for either primary or enhanced protection, ensuring that they did not face the prospect of a tax charge arising in respect of their accrued pension savings.

Primary protection offered the individual an increased personal lifetime allowance to take account of pension savings already in excess of the £1.5m allowance, permitting further contributions to be made. Despite this, any pension savings taken in excess of their higher personal lifetime allowance will be taxed at 55%. Care should therefore be taken to understand the tax efficiency of any future contributions paid under auto-enrolment schemes.

Enhanced protection offered full protection against any lifetime allowance tax charge but required the individual to cease any further pension accrual after April 2006. The consequence for someone with this type of protection being auto-enrolled by their employer could be very significant.

For example, if the value of pension savings was £2.5m with enhanced protection in place, there would be no tax charge when benefits are taken. But if as a result of auto-enrolment further pension accrual takes place, the enhanced protection would be lost, resulting in the value of pension savings in

“Business owners or senior directors could be stung with potentially massive tax bills”

excess of the lifetime allowance being subject to a lifetime allowance tax charge. This would result in £1m of pension savings over the current £1.5m lifetime allowance being taxed up to 55% – and a massive £550,000 tax bill.

A similar problem arises with the latest form of protection known as fixed protection. This was introduced following the announcement that the lifetime allowance would reduce from £1.8m to £1.5m from April 2012. Fixed protection allows the individual to retain the £1.8m lifetime allowance but, as with enhanced protection, is only valid if no further pension accrual takes place after April 2012. The consequences of further pension accrual as a result of auto-enrolment would be to reduce the individual’s lifetime allowance from £1.8m to £1.5m, with a potential tax charge of £165,000.

Anyone aged between 22 and 75, earning at least the minimum amount per annum (currently £7,475 but set to increase to £8,105) will be an eligible employee, and the employer must therefore enrol them at the required time. You must be careful, even if you don’t think you’re an “employee”. For example, a non-executive director who would normally be considered an “office holder” is likely to still be classed as an “employee”, and so could still be eligible for enrolment.

If you need to ensure that you are not auto-enrolled, speak to your HR department. The legislation requires that an employee must not be asked to sign any documentation to be auto-enrolled, so potentially the first you will know about being in a scheme will be a notification from your employer.

You will need to then complete an opt-out form and forward it to your employer within a month of being enrolled. You can obtain the form from the pension scheme as your HR department is not

allowed to provide it. If you fail to complete the opt-out within the required timescale, you will not receive a refund of the contribution and will therefore be deemed to have accrued further pension benefits.

This means you will lose your enhanced or fixed protection and could face a huge tax bill.

Remember, this doesn’t only affect those with various forms of protection; the annual allowance now limits pension contributions to £50,000 each tax year. If you are already fully utilising the annual allowance, take into account the likelihood of being auto-enrolled at some stage in the tax year and make sure you don’t over-contribute.

Tax relief will not be available on any payments made above the annual allowance. You should also make sure that any new contributions are not likely to cause your total pension savings to exceed the new lower £1.5m lifetime allowance, or if they do, that you are comfortable the benefits from these new contributions outweigh the tax consequences.

Finally, with anything involving the potential for high levels of tax penalties, it is always best to take independent advice from a fee only adviser.

Contact: www.towry.com

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05/07/2012 10:31

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12/06/2012 11:08

Focus on money DRIVING GROWTH

Small firms play a big role in driving growth says John Williams, head of Santander’s Breakthrough programme

GROWTH CHAMPIONS We all know the role and influence that big corporations play in global society. However, since the financial crisis there has been an increasing emphasis on the importance of small and medium sized businesses and the potential they have to pull the economy out of recession.

Their importance is not surprising when you look at the statistics. SMEs make up 99% of the UK’s 4.5 million businesses, and contribute 49% of private sector turnover and 59% of private sector employment.

Recognising the value that SMEs provide to both growth and employment, Santander worked with business intelligence company Experian to dig deeper into the issue to examine the economic contribution of the SME sector. The conclusions were astonishing. The report identified that just a very small fraction of these businesses – less than 5% of the total SME population – play this extraordinary role in supporting job creation and economic stability in the UK. We have classified these remarkable businesses as Growth Champions, and we are indebted to them. The study reveals that these organisations account for a staggering two-thirds of all employment created by SMEs. While the recession has been taking its toll on the majority of businesses across the country, the research revealed that these Growth Champions continued to flourish. Between 2007 and 2010 these companies were responsible for creating 173,000 jobs when other similar sized businesses shed over 400,000.

Many might expect these exceptional SMEs to be located in the key business hubs of London and the South East. However, interestingly, the figures revealed a healthy spread of Growth Champions across the whole of the UK. Indeed, the North West boasted the largest number with 5.3%. Yorkshire, Scotland and the North East followed closely with 5.2%, and the South

West and Thames Valley also fared well with 5.1%. These champion businesses also operate across a wide range of industry sectors. In fact, the social work industry had the most with 14.7% – proving that fast growth is not confined to the technology industry as is commonly thought.

The findings have enabled us to identify a blueprint for future Growth Champion businesses. These companies will be pivotal in driving the economy forward, and it is the responsibility of banks to ensure they are nurtured and given the opportunity to grow.

We need to do everything we can to help them reach their full potential, which will in turn help them to create more jobs and stimulate economic growth.

“We have classified these remarkable businesses as Growth Champions, and we are indebted to them”

Contact: www.santanderbreakthrough.co.uk

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“Acting as the ATI Trust’s accountants and professional trustee, Kuhrt Leach provides a sound and extremely responsive service in advising the Trust on financial planning and regulatory matters. Each of the firm’s partners takes a proactive view of the financial services they provide and we find this handson approach of immense value in all matters undertaken on our behalf by. . .

Roger Ward, ATI Trustee ATI Trust

Kuhrt Leach LLP is a firm of Chartered Accountants that specialise in all aspects of owner managed businesses

We have helped a number of businesses over the last three years in various sectors These include: Direct Sales / Property Investment / Property Development / Pharmacy / IT Hardware Recycling / Safety Equipment / Debt Financing / IFAs and Fund Management

Contact - 020 8508 4334 / contact@kuhrtleach.com Kurht Leach.indd 1

08/03/2012 15:48

Focus on money GREEN INVESTMENTS

When it comes to money, it’s not always easy to decide what to actually invest it in, especially with so much choice. John Fraser, global director of Global Forestry Investments, takes a closer look at the new green opportunities available

The eco-investment

I

n terms of investment trends, the emerging nations of Brazil, Russia, India and China (or BRIC) are proving to offer increasingly attractive opportunities. Many of the projects in these nations are looking to the future, and provide ethical and viable investment alternatives that not only appeal to global businesses and heads of corporate CSR, but also offer something to the individual entrepreneur and smaller retail investor. In my opinion, BRIC is a good direction for investors to take, particularly if they wish to diversify their portfolios. Not only have these emerging markets become surprisingly advanced, but they have also experienced quick economic growth. The BRIC nations are an increasingly attractive investment because they now offer improved governance, political stability, and positive demographic forces. Each of the BRIC nations is continuously growing, both socially and economically, and are fast

becoming real contenders against more developed countries. This leads to money being pumped into enhancing their infrastructure systems, which in turn supports them to do even more.

For example, Brazil is set to host the 2014 FIFA World Cup and the 2016 Olympics.

These two events alone will drive hoards of tourists into the country, and are also the driving force behind businesses wanting to associate themselves with Brazil.

Along with the emerging markets, there is more of an emphasis on going green. This isn’t limited to just politicians incorporating green policies.

Investors are increasingly interested in the way green technology is developing at a fast pace.

Speaking back in 2009 Achim Steiner, the UnderSecretary-General of the United Nations, explained how, despite America and Europe having disappointing investments back in 2008,

there were some highlights: ‘especially in developing countries. China became the world’s second largest wind market in terms of new capacity and the world’s biggest photovoltaic manufacturer, and a rise in geothermal energy may be getting underway in countries from Australia to Japan and Kenya.’

Green industry developments were also said to be taking place in Brazil, Chile, Peru and the Philippines. Between them, policies and laws fostering clean energy are to be introduced as part of a green economy.

Even though 2008 saw the tragic recession that severely damaged the markets, alternative energy fared quite well. Wind attracted the highest new investment of $51.8bn, and solar energy made the highest gains of up to 49% growth to $33.5bn compared to 2007.

Green exchange traded funds like Powershares

“Investors are increasingly interested in the way green technology is developing at a fast pace”

“Now may be the perfect time to invest in green motoring”



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Focus on money GREEN INVESTMENTS

WilderHill Clean Energy Portfolio, PowerShares Global Wind Energy Portfolio and Market Vectors Solar Energy ETF give investors the chance to snap up opportunities and get involved with the green movement. Holding stock shares in companies that are involved in research, development and distribution of alternative energy is also recommended by Jean Folger from the Financial Edge.

For 2012, with oil prices soaring, investing into green energy such as solar, nuclear, wind, wave and broad clean energy is bound to be a more appealing direction for investors.

Along with green energy is the future of technology and automobiles. Hybrid cars were the first range of vehicles that emerged as a green step forward, but now electric cars are seen as the elected preference for the future. Car giants such as Ford Motor Company, Toyota, Tesla Motors and even Honda Moro Company are hoping for a huge demand for hybrid and electric cars.

Now may be the perfect time to invest in green motoring, with Toyota being named as the greenest brand and the fact that the likes of Google have given their backing to Transphorm; this could give electric cars more range, as they have reportedly developed power conversion efficiency technology, which can reduce the power lost during electric conversion by up to 90%.

With the growing availability of charging stations, the idea of having an electric car is receiving a warmer response than previously, when consumers may have shuddered at the thought of running out of charge mid-journey. The opportunities for investing in electric motors lie in the very same companies that undertake research, develop and manufacture the technology behind electric cars.

Rare earth metals also seem to be an investment trend for 2012. Despite not being familiar with the likes of gadolinium and thulium, they are in fact extremely important for the technological advancements we are very keen to see. Gadolinium is used in the manufacturing of computer memories, and thulium is vital for portable X-ray machines. Though they are not rare, they can’t be accessed in significantly concentrated amounts. These metals are an important factor for a range of products, including jet engines, flatpanel televisions, mobile phones, nuclear batteries and hybrid and electric vehicles.

Those looking to invest should approach companies who are exploring and processing these metals, such as Avalon Rare Metals or even exchange traded funds like Market Vectors Rare Earth/Strategic Metal ETF. At Global Forestry Investments, we are continuing to expand our portfolio, to help satisfy the need for ethical and sustainable alternatives.

Our teak tree plantations in the northern territories of Brazil have helped to bring a new level of sustainability to the future of the Brazilian forestry sector. We have maintained the policy that for every tree an investor purchases, we will purchase a second tree that will remain completely protected, helping to replenish the depleted Amazon which has suffered much in the past from slash and burn merchants. The teak tree industry is nothing new, but we have helped add the infrastructure, jobs, stability and protection to plantations to ensure the land is maintained for generations to come.

It’s important to move forward, look beyond what we already know, and try to innovate, which is why we are looking into new farmland

“It’s important to move forward, look beyond what we already know, and try to innovate”

opportunities, bio fuel projects and a revolutionary new carbon credit exchange system.

The future of the global economy may be pessimistic at times, but the opportunities that have been created for the future are fascinating and plentiful; you just need to know where to look, and then take action.

Contact: www.globalforestryinvestments.com

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05/07/2012 10:40

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09/07/2012 14:36

Focus on money PATENT BOX

T Jason Stevens, patent attorney at Dehns, explains how getting a patent could save your business thousands in tax thanks to the upcoming patent box scheme

Out of the box

he “patent box” scheme was originally announced in 2009, and draft legislation has now been published as part of the Finance Bill 2012. The scheme is due to come into effect on 1 April 2013, and will allow UK companies to benefit from a reduced rate of corporation tax on profits arising from patents.

Under the patent box, companies can elect to apply corporation tax at 10% (rather than the normal rate of 23%, which will apply from April 2013) to profits attributable to qualifying intellectual property rights. These profits can arise from royalties, or can be embedded in the sales price of products.

Election into patent box is neither compulsory nor automatic; in order to obtain the benefits, the necessary details must be included on a

company’s annual corporation tax return, but this inclusion is optional.

Only some forms of intellectual property rights will qualify for patent box.

Patents, obviously, qualify; so do supplementary protection certificates and plant variety rights. Registered designs, trademarks and copyright will not qualify, and profits arising from these rights rather than patents will be taxed at the normal rate.

Only patents granted by the UK Intellectual Property Office (UKIPO) and the European Patent Office (EPO) will qualify – at least to start with. The Government is planning to include patents granted by patent offices in certain other European countries, but it has not yet stated which countries it has in mind. There are currently no plans for patents in countries outside Europe to qualify.

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Focus on money PATENT BOX

The benefit only applies to profits from granted patents.

Applications for patents will not qualify, but up to six years of backdated benefit can be claimed in the year an application is granted.

Patent box covers a wide range of patent-related income. Obviously, royalty payments received by a patent proprietor from a licensee qualify, as does any income from sale of a patent or damages awarded by a court for infringement of a patent. However, profit on sales of a patented item also qualify, and so does profit on the sales of a product which incorporates a patented item.

It should be noted that the reduced tax rate does not apply to the gross profits; these need to be converted into a qualifying profit (which excludes the profits a company would be expected to make routinely, profits generated by advertising and the like), and routines for doing this are set out in the legislation.

Because profits on the sales of a product incorporating a patented item can benefit, a single patent covering a small technical feature in a component part of a product may be enough for the profits from the sale of the entire product to be taxed at a reduced rate. While a single patent can be enough to gain the benefit from the patent box, relying on just one patent is a risky business.

Granted patents can be revoked or invalidated for a variety of reasons, and patents covering very profitable products (which are thus preventing a company’s competitors from making similar large profits) are more likely to come under attack. If a company is benefitting from the lower tax rate because of a single patent, and that patent is then lost for any reason, this will more than double the tax payable. A wiser

“Companies which have not previously considered filing patent applications should consider filing some now ”

“Up to six years of backdated benefit can be claimed in the year an application is granted”

approach would be to continue to file patent applications for inventive developments made during the life of a product.

As well as providing a safety net, the later-filed applications will expire later, and so extend the period during which the benefits are obtained.

So, how can a company best take advantage of the benefits offered by patent box?

Firstly, of course, a company needs to have at least one granted patent, which covers the profitable technology. It takes several years for a patent application to progress from its initial filing to grant, and so companies which do not have any patents or applications at the moment will not be able to benefit from the reduced tax rate for some years. However, any new inventions which are likely to be profitable can (and should) be protected by new applications.

Even companies which have not previously considered filing patent applications should consider filing some now; regardless of whether or not the patent is important to the company’s business, it could be significant in terms of the tax which can be avoided.

The first step in applying for a patent, especially for a company intending to rely on it to reduce their tax bill, is to see a patent attorney. Of course, it is possible to prepare, file and prosecute a patent application without professional assistance, and the UKIPO in particular will bend over backwards to help a private applicant through the thickets of the law once an application has been filed; however, there are certain requirements which must be met by the application when it is filed, and a mistake at this initial filing stage can ruin the chances of obtaining useful protection and may not emerge until several years down the line. A patent attorney can guide you away from these pitfalls.

Even with a patent attorney’s services, the cost of obtaining

a UK patent is relatively low – normally around £3000-£5000 (although cases involving very complex subject matter will be more expensive), and so patent box should be accessible to even the smallest of SMEs. Obtaining a European patent can be considerably more expensive, and the UKIPO tends to grant patents rather more quickly than the EPO. Companies which normally only file European applications should consider filing applications in the UK in tandem with EPO filings, as this will allow a granted patent (and the resultant tax benefit) to be obtained sooner at a relatively small extra cost.

Under patent box, obtaining a patent at the cost of a few thousand pounds could save a company many times this in tax, and SMEs should take advantage of the Government’s generosity.

Contact: www.dehns.com

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05/07/2012 10:52

Focus on money CASH FLOW

Do you spend what you make?

Save cash in the good times and your business might just survive in the bad argues Richard Stephens, managing director of DirectionGroup

CASH FLOW IS KING A

“We have a healthy cash reserve saved, and in the shortterm we are almost self sufficient”

fter more than 30 years of heading up a marketing service company through a range of business environments and economic challenges, it might be useful to explain how we got here in such good shape.

The current UK economy, unlike the recessions of the 80s, presents us with a more complex and deeper drop in business confidence – less a fundamental problem on the shop floor, more one on the trading floors and networks of the City and major institutions.

Small businesses rarely have the luxury of choice when deciding how to proceed during the tough times. We all usually cut costs (and our credit cards) where possible and knuckle down to doing what we do best, looking to do better where we can.

Our business was a bit like that too, but we agreed a few firm and committed policies.

We saved cash.

It seems a simple and logical thing to do...right? Wrong. Today’s businesses do not save much at all. All cash saved throughout the year is quickly depleted from the company balance sheets by dividends, staff bonuses, payment into SSAS, SIPPS, personal pensions and various “tax management” schemes.

The result can be a serious reduction in the bottom line and often levels reduced to just the right amount of money needed to re-start next year’s trading.

And all this to avoid outgoing corporation taxation costs. The various Government tax regimes since 1979 have not helped businesses save during the good times in preparation for the bad times. However, with the current uncertain climate companies are facing, maybe now is the time the Chancellor should offer a helping hand?

We followed various measures in order to successfully ride out

all past recessions, but the most successful was to save cash. We would push clients to pay us faster by doing deals. We paid suppliers quicker and negotiated discounts.

Credit terms were not there for us to hold back cash from our suppliers, but for emergency use only. Indeed, in the first years of running the business we sometimes paid trusted suppliers before being personally paid.

Wherever possible, we didn’t use the overdraft unless it was absolutely essential.

By the time we were in a healthy financial position, we would split the profits at each year end. One half went to staff, pensions and small investments for the business, while the rest of the money was retained on the bottom line. The cash we save is always taxed: but while paying tax always hurts, it’s an essential part of any democracy. Nobody likes to pay more than needed, but following a business strategy based mainly on tax reduction or

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Focus on money CASH FLOW

avoidance is both careless and destined to be short-lived.

Today our business remains independent, has no debts whatsoever and has had no overdraft for more than16 years.

In addition, we have a healthy cash reserve saved, and in the shortterm we are almost self sufficient.

Our clients pay us promptly, but we totally refuse to sign purchase agreements or service contracts from any clients (even international corporations) that try to demand up to 60 or even 90 days credit. It’s a simple policy and if broken it would be hard to get back on track.

The Government should look to secure legislation for fair pay fixed at 30 days for SMEs, and corporation tax breaks aimed at creating balance sheet savings to help boost SME confidence and growth. By forcing larger companies to pay smaller

organisations faster, they instantly help fill the cashflow of SME businesses. Adding SME tax incentives to encourage owners to retain profits in good times, entirely for use within the company, would help fuel growth, or alternatively protect jobs and wages when the bad times arrive or get worse!

Our company has slowly fuelled its own expansion and enabled itself to protect the business and staff in tougher times. In addition, the company has even borrowed from its own pension fund to purchase capital items it would otherwise need an expensive and potentially risky bank loan to finance.

SME action plan Four simple incentive tips for SME growth and development: 1. Save and retain cash during the good times 2. Reduce reliance on banks or external borrowing 3. Support fair pay for SMEs, do not accept long credit terms (i.e. over 30 days) 4. Ask the Treasury to build tax-free incentives into Y/E corporation tax to retain cash from annual profits for smaller businesses (e.g. under £10m t/o)

“Today’s businesses do not save much at all”

Contact: www.directiongroup.com

Do you know how much profit you have made? Which items you can claim VAT back on and which VAT scheme is the best for you? What you can claim against your tax on your tax return? How you pay your staff? We can help you with any of these questions and more and take some of the weight off your shoulders so you can concentrate on running your business.

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05/07/2012 11:35

Focus on strategy

How green is your office?

A green office can save money, increase productivity and boost the image of your business. Martin Atkinson, managing director of PiMS Workspace, offers guidance on creating a sustainable space ways of reducing energy usage, while maintaining comfort levels.

It has also been proven that a majority of offices are only ever between 40%-60% occupied, so fitting individual thermostat or radiator controls will enable users to temporarily reduce heat in unused or empty areas.

Installing simple time switches or movement sensors can also help reduce energy wasted on unnecessary illumination.

Choose green furniture

See the light

The importance of natural light is often overlooked, but daylight exposure should be a major factor when designing a workspace. Try creating a more open environment and consider replacing interior walls with glazed partitions, so private offices still exist but allow natural light to permeate. All light bulbs in the office should be high quality and energy efficient as low energy light bulbs last up to eight times longer and use only a fifth of the energy.

Get energy efficient

Improving or adding loft and cavity wall insulation is one of the most effective and ethical

Green furniture is essential for any organisation looking to minimise its impact on the environment. Environmentally friendly products will typically be made from recycled, refurbished, reclaimed or sustainably produced materials. Try to choose durable, locally sourced furniture and look for certification that indicates that the product has been assessed in terms of its impact on the environment.

Gear up for cyclists

The average person making a typical daily car commute of four miles each way would save 0.5 tons of CO2, or 6% of their annual carbon footprint, by switching to cycling. The rewards for providing a few basic facilities for cyclists will more than outweigh the initial costs. Implementing a secure bike parking area, communal tool box, lockers or even shower room (if you have the space), will support the use of such sustainable methods of travel.

Save water

A tap that runs for ten minutes uses 100 litres of water. Installing

water conserving taps in the workplace can have a significant impact on waste. Taps that are operated by push or touch are often the best for conserving water, as they stop automatically.

Some fittings even allow you to adjust the minimum number of seconds that the water flows.

Toilets with a low level flush option, or waterless urinals will also reduce water use, and rainwater harvesting and grey water systems are increasingly being incorporated in multipleoccupancy commercial buildings.

Breathe easy

Good ventilation is critical in a working environment. Plan your office design so each worker benefits from access to fresh air. Use only low-VOC paints and materials (such as furniture and carpets). Indoor plants act as air filters and help to rid your office of airborne pollutants and radiation from computer equipment, while replenishing the level of oxygen in the office.

Try and make sure all windows are operable, allowing individuals to naturally ventilate the office to meet their needs.

Waste not

If you are refurbishing, always remember to reuse and recycle waste generated from building, renovation and demolition work.

Donate any unwanted furniture or equipment to charities and recycle stripped plasterboard, carpets and other materials, to avoid waste going to landfill.

Contact: www.pimsworkspace.com

50 July 2012

050 eco office.ga.indd 52

05/07/2012 11:37

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09/07/2012 15:30

Focus on strategy REBRANDING

REBRAND YOUR BRAIN

Rebranding isn’t just about how your business looks – it’s about how your business thinks, according to our branding brain, Rich With

Rebranding can be an incredible way to revitalise your company.

It can help hard-wire a new approach to your staff, give an excellent opportunity to reinstall benefits to existing clients, and promote your business in a more fresh and exciting way.

However, the rebrand shouldn’t simply paper over the cracks of a damaged company and the first step in the process must look at your business as a whole. Take a long, cold look at your firm and go back to basics – define your market, figure out your message, and finally decide on your media. Perhaps your business needs to change the way it thinks…perhaps it needs to rebrand its brain.

In our studio, rebranding is one of our core skills and we have a plethora of new clients undertaking a fresh approach.

What’s inspiring about these firms is that they aren’t just rebranding because they fancy a new logo. They all understand that to evolve their business and consistently meet new demands from consumers, they have to adapt how they operate and, more importantly, the way they think.

“What’s inspiring about these firms is that they aren’t just rebranding because they fancy a new logo”

A decade ago the property market was buoyant, housing developments were oversubscribed and good returns were made with minimal effort.

Now it’s not so straightforward.

One of our new clients is a developer who realised that the market had shifted.

Potential clients were from a different generation with socially responsible values and backed up by loans from parents who won’t contribute to poor quality new builds.

The client understood a fresh approach was needed for their development and its marketing and promotion.

Their new identity is a complete contrast to rival firms: it’s simpler, ergonomic and comforting, mirroring the style of the latest development. It’s powerful yet subtle, and far more in keeping with the times.

It uses natural materials on short runs to keep both the cost and environmental impact down, and they’re embracing the social era by harnessing a community on their new Facebook page and Twitter feed. Their firm had to change the way it thought

– to rebrand not only its visual identity but its own internal thought process.

Another business we recently rebranded was a day spa. They identified potential niches and are continuing to build an enviable client list.

Although the rebrand was comprehensive across all media, it was also refined and tinged with continental and vintage influences. They embraced the need for video, invested in hand-painted signage and utilised social media to engage their fan base.

From every other mum baking fancy cupcakes, to technology allowing us to build mindbending applications that were unthinkable just a few years ago, society is undergoing a creative revolution. If we are to adapt and survive we must embed change into every level of the business.

If our businesses need to adapt, then we as owners must face the same challenge: to rebrand our business and our brains.

Contact: www.gohoot.co.uk talkbusinessmagazine.co.uk 53

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09/07/2012 14:15

Focus on strategy PR MASTERCLASS

3. Utilise video, photographs, media cuttings and anything else to make your posts interesting.

The business of blogging

It’s not just for teens and techies these days: if you’re in business, you should be blogging. Marketing and PR consultant, Kathy Carter explains how to blog the professional way

“Blogs should read well, and not as if written by an excitable, SEO-obsessed robot”

Within the marketing and public relations melting pot sits blogs – fantastic tools with which to promote your business. We all know about blogs, we have all been told they could be beneficial to our professional profiles, but do we really utilise them to our best advantage?

Blogs are commonly seen within a company website or on a standalone platform like Blogger or Wordpress. Personally, I like to see both – a blog within a company website as well as a third party site. My blogging platform of choice is Wordpress – it’s very user friendly and has many professional-looking templates. Choose either the free hosted version, pay a small annual fee to have your own URL that they host for you, or host your own blog by registering the domain name and paying an annual hosting fee yourself. If the latter isn’t within your remit, your web designer or a copywriter with blogging experience should be able to assist. This website has

some useful information: http:// en.wordpress.com/features The big question from business owners, aside from ‘When would I have time to update a blog?’ (you make time) is ‘What do I write?’.

When I write blogs for clients, I am usually aiming to inform their reader. This could be articles about industry news, opinion-based pieces about products or legislation, or more humorous posts that people come back to regularly.

Here are my top tips for business blogging: 1. Consider what search terms people use online when searching for products and services in your sector.

Incorporate these regularly into your posts in a flowing fashion – blogs should read well, and not as if written by an excitable, SEO-obsessed robot.

2. Post regularly – even if it is just once a week, make sure you keep up the momentum.

4. Use content-rich copy that is relevant to your industry and your products. For example, if you distribute outdoor footwear, blog about the types of boots used for different outdoor activities, or choosing and fitting boots for children.

5. Beware of pushing your products too heavily – but intermittently include info that informs readers and potential purchasers about your product or service.

6. Try to position your brand and its representatives as experts in your field. If you have strong opinions, voice them (providing they are not sensationalistic, or they put your brand in a negative light!)

7. Utilise your blog posts on your company’s social media platforms, and encourage your customers, clients and friends to share the content.

8. Include links in each blog post to relevant pages of your website, for example, product pages.

9. Try to ensure your copy is correctly spelled and grammatically suitable – consider writing it in a Word document first and copying and pasting it over to the blog – but remember to develop your own voice and style.

10. If writing isn’t your forte, consider delegating the blog writing to a trusted colleague or employee, or contact a copywriter to update it for you.

PR consultant and copywriter Kathy Carter is a member of Pure B2B – masterminding your business to the next level.

Contact: www.blogs4biz.com www.pureb2b.co.uk

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05/07/2012 11:45

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11/07/2012 15:31

Focus on strategy CLAIRE YOUNG

Babies and boardrooms Columnist Claire Young contemplates a future in business with baby Young in tow As I sit and write this column, literally ready to pop (baby Young is due in three weeks’ time), I ask myself: do babies and boardrooms go together?

Call me naïve, or even in denial, but I really do think women can have it all – just not at the same time!

One of the first questions when people met my bump and I – usually said in a concerned, worried tone – was: ‘what’s going to happen to your business?’ And it was closely followed by: ‘when do you start your maternity leave and how long for?’ My answers: business will continue as normal and I’ll take as much time off as I need.

As an entrepreneur, I suppose my business, School Speakers, is almost like a baby to me. It’s something which I’ve created, nurtured and seen grow. It would be impossible to walk away from it for six, nine or twelve months. Ask anyone self-employed and they’ll all agree! Selfishly, I love my work and gain lots of personal and intellectual satisfaction from running a business. I don’t want to lose this aspect of my life. Women such as Deirdre Bounds, Lara Morgan, Jacqueline Gold, Karren Brady and Nicola Horlick have all proven that babies and boardrooms do work together.

Work-life balance is different for each of us, from juggling part-time work to running a multi-million pound empire. As women, we all have different values: what’s right for one of us isn’t necessarily going to be acceptable to another.

Individuality makes the world go round and I would never criticise someone else’s decisions.

Amanda Holden was ambushed by the press for returning to work weeks after giving birth to her second daughter. I spoke up and defended her corner. Who are we to plough in and make judgements of others’ decisions?

We all know how tough the strain of balancing family and work life can be without the added pressure of other women tutting and strutting as they pass verdict on your decisions.

In today’s tough economic climate, more women than ever financially need to return to work, and many choose to return to work for personal

“Work-life balance is different for each of us”

reasons (maintaining mental sanity!). I constantly see and hear of women feeling guilty about this. Why? Society’s expectations have been created by society – and if we want to change, so be it. I am happy to admit that months of baby classes, daytime TV and coffee mornings is not for me. Have the confidence to set your own benchmark and go for it.

Contact: www.claireyoung.co.uk www.schoolspeakers.co.uk

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04/05/2012 14:54

Focus on strategy BRAND MANAGEMENT

Have you ever had one of those moments when you’ve seen a piece of marketing literature produced for your business and had a mini heart attack?

The low resolution logo or picture, the typo in the first paragraph or the wrong corporate colours...you desperately call your team and ask who is responsible for grabbing a graphic from your website, which looks simply terrible when printed on a marketing flyer.

At PrintRepublic we’ve seen this happen many a time, and have often been asked by a client to save the day and re-print various forms of marketing pieces that are drastically offbrand (which is a polite way of saying they’re rubbish).

I’m sure you’ve heard how important it is for your prospects and clients to receive marketing messages from your business that are consistent.

It is equally important to present an image that is truly representative of your brand, both on- and offline.

We all love the potential social media can provide, but it can

“Something negative can very quickly become viral, and all of a sudden you have an emergency damage limitation exercise”

also present problems. If those responsible for social media marketing in your business are not very careful about their messages, posts, pictures and updates, something negative can very quickly become viral, and all of a sudden you have an emergency damage limitation exercise.

Occasionally we are asked to print items like brochures that have been “artworked” in something like Powerpoint, which is clearly presentation software, and we have to politely point out the risks our client is taking with poor quality images and artwork.

Just because something looks OK on screen, doesn’t necessarily mean it will print to an acceptable standard.

So what is the easiest way to eradicate this problem and create consistency in your marketing collateral?

Well firstly, it is often down to procedure and, in effect, the rules and regulations of the company.

But let’s be honest, most entrepreneurs are not great with rules! So how else can you ensure continuity, brand consistency

and quality materials? One simple way is to create a print portal that has templates for a range of products that can be edited online by anyone in your organisation who you give password access to. The portal can be managed by a supplier or your in-house team, so only appointed personnel can have the use of it, ensuring rules are adhered to.

The simplest example of a product that can be used on a print portal is a business card. Creating a business card template with your correct design, corporate colours, high resolution logos or images and the relevant addresses or straplines can be done simply and then protected, so that only the individual person’s details, such as name, email etc. need to be edited for each order.

This doesn’t just offer brand consistency, but flexibility of ordering, whenever you need to, with pre-negotiated fixed prices and clear delivery schedules.

Contact: www.printrepublic.co.uk

MANAGING YOUR BRAND The age of the Internet poses problems when managing your brand across a number of platforms. PrintRepublic’s Stefan Boyle warns of the long-term damage caused by inconsistency

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05/07/2012 12:05

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24/05/2012 16:52

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e may as well be honest, managing employees is not exactly the easiest part of running a business. Employment law changes continuously, staff tend to get sick/become parents/under perform and as a business owner it is your responsibility to deal with it legally. Employee management is clearly vital to the success of your business but so many businesses continue to view effective HR support as a ‘nice-to-have’ rather than a ‘must-have’.

Lighter Business Solutions is an HR Consultancy created to provide hands-on, practical support to small and medium sized companies in implementing effective HR management that adds value to the business. We can’t stress that last part strongly enough. HR management needs to add value to your business. This value comes through a combination of having confidence that you meet your legal requirements and having a team of employees who know what is expected of them, have targets set

and performance monitored and understand how their role fits into the overall business. This then allows you to focus on your customers and developing your business.

Our telephone rings when a client has a difficult employee problem that they need help resolving, has become aware that the contract and handbook they put in place 5 years ago is out-of-date and not offering the business the protection it should have, or when they are ready to move towards a more structured approach to role definition and performance management.

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29/06/2012 11:45

Focus on strategy SOCIAL MEDIA

The four bits of advice that could take your online presence to the next level, courtesy of Dale Cook, product marketing manager at Serif

TOP TIPS: SOCIAL MEDIA A

s a business owner, you are busy and your time is limited. Social media is ubiquitous and may seem like a great way to communicate with hundreds (or thousands) of people really quickly, but it will only work if you do it right.

“There are loads of things you can do with social media, but don’t try to do them all”

1 Know your audience The first thing you have to do is figure out who you want to reach: new customers, existing customers, past customers or a more targeted group? For new customers, specify as much about your ideal client as you can. Are they male or female?

How old are they? What hobbies do they have? What social media do they use regularly? There are, of course, more details you can add but it’s definitely important to build a picture of your perfect punter. If you want

to talk to existing customers, do a bit of research to find out what social networking sites they use the most. You can make free surveys online, hold focus groups, ask questions on relevant forums and more. If they don’t spend a lot of time on Twitter, then you don’t need to create an account.

The social networks you are on will be dictated by your target audience, so once you know where they like to hang out, it’s easier to establish a goal.

2 What is your goal?

It sounds obvious, but it’s rarely done. You should know exactly what you want to achieve. Do you just want to provide another channel of communication between your business and your customers? Are you trying to increase awareness of your

62 July 2012

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06/07/2012 16:58

Focus on strategy SOCIAL MEDIA

“Having a poor social presence can be more damaging to your brand than not even being there”

brand? Are you looking for another way to distribute great content? There are loads of things you can do with social media, but don’t try to do them all. Identify your most important goal and focus on that.

Whatever your goal, it’s a good idea to incorporate your social media activities into everything you do. Web design software, like WebPlus, makes it easy to integrate social elements on your website. In addition, you can talk about your social media accounts in your newsletter as well as list the social media links on your flyers and other printed marketing material. It also works the other way too. Use your social media channels to deliver related and helpful information to your customers that will engage them.

3 Plan your time How much time can you realistically commit to social media? If you can only spare a few hours a week, you may not see much of a return for your time. In fact, having a poor social presence can be more damaging to your brand than not even being there – it will seem like you are ignoring your customers. You’ll need to work on your account consistently to build momentum and a reputation.

If the responsibility will be shared, consider creating some basic guidelines so everyone knows what is expected of them. Among other things, it’s important for everyone to use the same tone of voice to maintain brand consistency.

Much like Rome, nothing awesome is built in a day. If

you’re expecting to see positive results in a few weeks, you’ll be sorely disappointed. Allow at least six months before evaluating how well you are doing, then reassess whether you want to continue.

4 Monitor your success You should regularly monitor the impact of all of your marketing – including any social media activities. How you do that will relate directly to the goal you set. If your goal was to offer a fast way for customers to ask you questions (to reduce incoming support emails and calls), find out if it worked. There are a lot of different calculations you can do that involve percentages, comparisons to last period’s figures, and time spent per query, or you could use the built-in analytics in your social media accounts.

However, you might get a better picture of how you are serving your customers by simply asking them. Again, you can make use of free survey software, emails, focus groups, etc. If your customers love the new social media support option (and it’s actually being used enough so you can devote less resources to your traditional support methods), then it is a good idea to keep it.

If you haven’t picked up on the underlying point of the article, here it is: while social media is free, it takes a lot of your (or someone else’s) time to research, plan, promote, execute, and assess your activities. You’ll want to see a return on investment at some point, so it only pays to do it if you are going to do it well.

Contact: www.serif.com

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06/07/2012 16:58

Focus on strategy FAMILY BUSINESS

Keeping it in the family “The family business” may sound quaint but in reality it presents a unique set of difficulties. David Few of Blandy & Blandy explains how to mix business with pleasure Setting up a business with a spouse or civil partner presents unique problems – the result of mixing business imperatives, opportunities and difficulties with family dynamics, priorities and challenges. However, with careful consideration of the issues that may arise at the outset, they can result in longterm success for the business.

Considering the following crucial aspects should highlight some of the key factors which you need to bear in mind if you’re setting up shop with a spouse or partner.

Structuring your start-up

When setting up a business with a spouse or civil partner, greater weight than usual may be attached to the level of personal liability for business debts and obligations that is being assumed, and the need to protect shared assets such as the family home. A couple may wish to run the business through a limited company or limited liability partnership which provide a limitation on personal liability in the event of the business failing. Choosing the type of legal structure of the business is an important decision and will depend on individual circumstances.

Get it in writing

“Choosing the type of legal structure of the business is an important decision”

In any situation where two or more people go into business with each other, it is essential that the basis of their involvement in that business (ownership, control and management etc.) is set out in a legal contract between them, whether a shareholders’ agreement, a partnership agreement or an LLP agreement. There is perhaps even greater necessity for an agreement between spouses, where the business relationship is based on a personal one.

The agreement can cover all aspects of the relationship, but should at the very least contain provisions for the resolution of disputes and deadlock (particularly when each spouse or civil partner has equal voting rights). It should also cover provisions in the event of the breakdown of the marriage or civil partnership, or death of a spouse or civil partner.

Insure and go

It is advisable for a life assurance policy (key person insurance) to be taken out for each spouse to provide the company with a cash cushion in the event of the death of either partner, as this is very likely

to affect the performance of the business. It would also be prudent to ensure that each spouse or civil partner has an up-to-date will and powers of attorney.

The Enterprise Investment Scheme

The ability to raise finance is essential for the survival of a small business and can be tough in the current economy.

The Enterprise Investment Scheme (EIS) is designed to help small trading unquoted companies raise finance by offering a range of tax reliefs to individual investors in those companies. Rules apply to the investor under the EIS to determine whether they are eligible to receive relief through the scheme. But note that an individual who is connected with an EIS company, by way of their shareholding, partnership, employment, or by being an associate – including a spouse of such a person – will not be eligible to receive income tax relief on the subscription price of their shares, or enjoy a tax-free capital gain on a future sale.

Contact: www.blandy.co.uk

64 July 2012

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C51527 Be the Boss 124x180 09/12/2011 12:33 Page 1

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09/07/2012 15:34

ADVERTISEMENT FEATURE

What Is SEO?

By Sean Hamilton BSc Hamilton Web Solutions

W

hat is SEO? For me, search engine optimisation (SEO) is the art of getting a website to work better with search engines like Google, Yahoo and Bing

• It’s not JUST a numbers game. One link from a “trusted authority” site in Google could be all you need. Of course, the more “trusted” links you build, the more trust Google will have in your site.

• You don’t pay anything to get into Google, Yahoo or Bing

• Try and get links within page text pointing to your site with keywords in it.

Try to ensure the links are not obviously “machine generated” i.e. site-wide links on forums or directories. Get links from pages, which in turn, have a lot of links to them.

• To get into Google, for instance, you must consider and largely abide by search engine rules and guidelines for inclusion.

• It’s thought all search engines rank websites by the quality of incoming links to a site from other websites and hundreds of other metrics. Generally speaking, a link from a page to another page is viewed in Google “eyes” as a vote for that page the link points to.

• Search engines find your site by other web sites linking to it. You can also submit your site to search engines direct, but I haven’t submitted my site to a search engine in the last 5 years.

• Google spiders this link, finds your site, and indexes the home page of your site, and will come back to spider the rest of your website if all your pages are linked together.

• As a result of other sites linking to your site, the site now has a certain amount of “Google Credit” you can share with all the internal pages that make up your website.

• Yes, you need to build links to your site to acquire Google Credit.

• When you have Google Credit, try and spread it throughout your site by linking down

• Search engines like Google “spider” your entire site by following all the links on your site to new pages, much as a human would click on the links of your pages. This spider is also known as a Robot.

• After a while, all your pages are in Google’s index. Ideally you will have unique pages, with unique page titles and unique page descriptions. I don’t worry about Meta keywords these days.

• Google chews over your site, analysing text content and links • If you have a lot of duplicate content found on other websites Google knows about, Google will ignore your page.

• You don’t need to keyword stuff your text and look dyslexic to beat the competition.

Generally it’s good to have keywords in links, page titles and text content. There is no ideal amount of text – no magic keyword density.

• Now Google knows who links to you, the “quality” of those links, and who you link to.

• It decides which pages on your site are important or most relevant. You can help Google by always linking to your important pages.

• It is important that you spread all that Google Credit to your sales keyword / phrase rich sales pages, and as much remains to the rest of the site pages, so Google does not “demote” starved pages into its reserves, or “supplementals”.

• With this information, your website has some sort of relevancy score for specific keywords and appears in serps (search engine results pages) when Google users type something into the search box.

In the end, getting a site to the top of Google it all comes down do your content and external and internal link profile. All together, Google uses this analysis to determine whether your no1 in Google or number 32, or de-indexed.

There’s no magic bullet There you have it, an article about SEO for Google that doesn’t mention Page Rank!

To find out more about how search engine optimisation can work for your business and truly generate more leads for your business contact Hamilton Web Solutions on 01227 811708 or email info@ hamiltonwebsolutions.co.uk www.hamiltonwebsolutions.co.uk talkbusinessmagazine.co.uk 69

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03/07/2012 11:21

Focus on marketing

To market, to market…

Former contestant of The Apprentice, Kimberly Davis, takes her first outing as TB’s marketing expert, and tells us why treating customers badly is a marketing no-no One of my biggest bugbears is poor customer service. If a company doesn’t treat me with respect, I don’t give them my money. Full stop.

Recently, I was flat shopping.

I registered with several estate agents and made my requirements clear, including the fact that I needed an unfurnished place.

One agent showed me a property I loved. When we left, she dropped the bomb: ‘It’s furnished’. I agreed to make an offer if the landlord would remove the furniture. The agent stared blankly, and then became snippy. With the most “computer says no” attitude, she replied: ‘But it comes furnished.’

‘Yes, but I asked you to show me unfurnished properties.

Please call the landlord and ask him to consider my offer.’

She finally agreed, mumbling, ‘It’s OK because we can sort it later in negotiations.’ I had to step up again.

‘No. There will be no negotiation. I need the property unfurnished.’ She wasn’t getting it. All she cared about was the sale and she would force a square peg in a round hole to do it. I became so frustrated with the lack of common sense, rudeness, and inability to listen to my needs, that I walked away from a flat I loved; my determination to ensure this woman didn’t receive one penny of my money was far greater than my desire to live in the property.

Maybe it’s my no-nonsense New Yorker upbringing – but I’m not the only one. A

“I believe that it’s a company’s job to make me feel like I’m important, like I’m their only client”

whopping 86% of consumers in the UK quit doing business with a company because of a bad experience. Poor customer service is costing UK businesses £15.3bn!

So here’s three tips you can apply immediately to start growing your business through customer service:

1. GET PERSPECTIVE

I once had a dispute with Orange, who wrongly charged me hundreds of pounds on my phone bill. When I fought to have the bill fixed, I was told, ‘We’re in the business of making money, not making you happy.’

Needless to say, Orange lost my business that day. For a £200 dispute, Orange’s short term gain does not compare to the longterm loss of a great customer.

2. GET ON SOCIAL MEDIA

It used to be if you had a good experience you told three people and if you had a bad experience you told nine. Now, thanks to the power of social media, you can share your opinions with millions instantly. By “joining the conversation” you can thank those who support you and do damage control on those who are unhappy.

3. REASSESS YOUR STAFF

Do your employees treat your business like it’s their own? Are they damaging your reputation and losing you business? Maybe it’s time for a detox. I know this might be a bit uncomfortable, but can you really afford not to? If your staff are tarnishing your name, it’s time to set an example that poor customer service will not be tolerated.

I believe that it’s a company’s job to make me feel like I’m important, like I’m their only client, like my business is critical to their survival.

Oh, and they need to do all that with a sincere smile.

Your customers are your lifeline.

Keep them happy, and your business will thrive and survive, even through the toughest times.

Contact: www.sarsaparillamarketing.com

68 July 2012

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06/07/2012 11:54

You’ll value the personal touch with an expert on board

When it comes to business travel, nothing beats having an expert on board. A Corporate Traveller business travel expert is highly experienced, commercially driven and has exceptional product knowledge to deliver airfare and accommodation options which will have an immediate impact on your bottom line.

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When I did receive the phone call from a competitor hoping to poach our account, he could promise all the cost savings in the world but I told him that level of service was paramount to me and on that basis I was not interested in talking to anyone else about our account, and I think that’s a real credit to you and Bex. Jon Furniss, Tunstall Healthcare (UK)

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06/06/2012 14:46

ADVERTISEMENT FEATURE

Getting I.T. right F

or a lot of people it’s difficult to remember a time without computers, or even a time without the internet. Technology has integrated itself so far into our daily and working lives that it’s pretty impossible to imagine running a business without it.

It’s moving at a tremendous pace, with the latest solution quickly becoming yesterday’s has-been product.

It’s critical that businesses have the right IT solution – the wrong one could affect productivity and ultimately work against, not for, them. But with so many options out there, how do you know what the options are and which one will work best for your business?

That’s where Wabsys comes in.

They bring their technical expertise and in-depth knowledge of the market and will help you install the right solution.

Satisfaction = reputation

Stuart Ward, Technical Director at Wabsys explains: “We set up the business to help clients through the maze that is IT solutions. The market moves at lightning speed, so if it’s not your business, it’s difficult to keep up with the available options. But we also wanted to offer fantastic support to our customers to ensure that they’re never stuck. It sounds corny, but we really do care about making sure our customers get the right solution at the right price, our reputation depends on it.”

One customer who has benefitted from Wabsys’s knowledge is Evolve Selection Ltd. Chris Anderson, Managing Director of the specialist healthcare and pharmaceutical recruitment firm, says: “Having worked with a number of IT suppliers over the last few years, we have definitely found Wabsys to be the best at what they do.”

Wabsys were recommended to Evolve when they started looking for

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alternatives to their existing cloud system. All of the company’s files were stored online and employees had to log in via the internet to see them.

Infrastructure issues

But a slower-than-average internet speed at the company’s office, and up to four people at a time trying to access files, meant the system ran frustratingly slow.

“We could wait between five and ten seconds just for an internet page to load,” says Chris. “There were even days when the internet went down completely and using a wholly cloud-based system was completely unproductive. Working with Wabsys has allowed us to move to a system that is much more suited to our business.”

The system also used a complex process to upload files which only one person in the company properly understood. Clearly the system was hindering productivity, not helping it, and at around £5,000 a year, it wasn’t a small investment either.

Collaborate to solve the problem

Wabsys recommended their Wabstor Collaborate system which stores files both locally on employees’ computers and synchs to an online storage area. This ease of use was the main reason Chris chose it, along with how easily they found it integrated into Evolve’s existing processes.

And the fact that Collaborate costs only £660ex VAT a year is an extra bonus.

Wabsys arranged to migrate all of the company’s files to the new system over the Easter weekend, so the consultants simply handed over their laptops on the Thursday after work, and returned to the office on Tuesday morning with everything working and all their files accessible.

“It’s the easiest transition I’ve ever

made in terms of changing an I.T. system,” says Chris, who estimates he’s changed systems four times since starting the business in 2007.

Collaborate allows folders to be set up with passwords so that only the appropriate files are shared.

This works well for Chris as he runs a second business, Evolve Market Access, and they can now share the same IT system at no extra cost.

Hosted Exchange

Wabsys also recommended a Hosted Exchange solution to provide all of the necessary email server accounts.

This is a much cheaper solution than subscribing to a traditional exchange and allows 25gig of data per inbox – a huge amount of storage by comparison to other solutions. At just £5.95 a month for each inbox, the solution can quickly and economically adapt to the needs of the business.

Chris summarises, “Wabsys listened to our needs and the limitations of the infrastructure we were working with and came up with a solution which works better and costs 75% less than our previous cloud system. It’s a no-brainer,”

For more information or to talk through your IT needs, call Wabsys on 01924 635343 or email info@wabsys.com www.wabsys.com

09/07/2012 15:37

Focus on marketing NEW PRODUCTS

Even great products need marketing: the Directors Centre MD, Robert Craven, tells us not to rely on letting our products sell themselves

HOW TO SELL

CHOCOLATE What could be easier than selling brilliant-tasting, fairlytraded chocolate? Like taking candy from a baby…or is it?

I’ve been keeping a careful eye on my friends at Madécasse, the chocolate makers in the States. I am not the only person who is keen to see them succeed – Seth Godin has also been writing about what they should do to get their chocolate bars leaping off the shelves on his blog.

To start off, the product itself is pretty good. And so thinks the New York Times: ‘These days my favourite chocolate isn’t U.S.D.A. organic certified and it’s not Fair Trade or Rainforest Alliance-stamped.

It’s Madécasse, made from cacao grown in Madagascar’s naturally organic forests.

It’s traded fairly and is environmentally friendly.’

One rave review, however, does not a business make.

So, does the packaging say ‘buy me, buy me’? Like Godin, I wasn’t convinced they’d got it quite right.

Here are a couple of oneliners that always come up fairly early on in my discussions about sales and marketing: • Why should people buy from you if you’re the same as the competition?

• What makes you different from the rest?

• Do you understand that marketing is not a battle for the product but a battle for the mind of the customer?

“Marketing is not a battle for the product, but a battle for the mind of the customer”

So a few thoughts...

No one disputes the quality of the product, at least not once they’ve tried it. But for Madécasse virgins it is tricky – they will buy either if recommended (in which case the packaging isn’t so vital) or because the packaging entices them.

Currently the packaging doesn’t make the chocolate leap off the shelves. It doesn’t tell a story. It doesn’t scream ‘buy me’. It doesn’t say ‘Hey Mrs green deli shopper, I am the one you want...’

The backstory is so fantastic that I think Madécasse is being too modest and shy. For specific shoppers (green/organic/chocoholics/ environmentalists/third worlders) this chocolate should be “the only one”.

Why would I want to put money in the hands of the global capitalist scum when I can give it direct to the workers via Madécasse? This business should run and run and run.

BUT even when a business has the power of a great

product, backstory and vision, they still have to get the marketing right.

So, two things to do:

1 Get the packaging spot-on.

Identify your specific market niche – get this sorted and sell specifically to these people.

2 Work the word-of-mouth marketing systems. In this world of Twitter, Facebook, YouTube and so on, you need to get your raving fans to help you sell your story.

As part of the “telling the story”, I see that Madécasse launched a mini-video on YouTube – a brilliant start.

Raving fans want to feel that they “belong” and that they understand the story. They want to be able to see and share the story. They want to take part in the journey!

Madécasse has such a brilliant story to tell – great history, great provenance, great product – that it deserves every success.

Contact: www.directorscentre.com www.robert-craven.com

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05/07/2012 12:28

Focus on marketing PERSONAL BRANDING

Boost your business with personal branding. Steve Wainwright, founder of Profiled.com, gives his five best bits of advice

Up close and personal

I

“Allow your personality to shine through when you’re creating your profile”

n a world where there are over two billion people on the Internet, customers and businesses are now frequently jumping online to find out more about individuals and products.

It is therefore vital that you know what they are going to find.

Your Google results have become your calling card and are what potential contacts who don’t know you will base their first impressions on – for entrepreneurs in particular, it is vital that you make sure this first impression is a positive one.

Ultimately for entrepreneurs, reputation is key and it is your reputation that will predominantly lead your business to success. However, this is a double-edged sword and, if not handled correctly, a negative online reputation could cause serious defamation to your business.

I founded Profiled when a chairman of a company asked me ‘What would come up if I Googled you?’ I had no idea, so went home and found out.

What amazed me was the difficulty my business contacts would have in finding out the true level of my skills and experience – particularly since I’d been a public company director for nine years. That’s when Profiled.com was born.

For time-poor professionals it can be difficult to control and maintain a positive personal brand and online presence, but

it doesn’t have to be. I started Profiled as a way to make it easier for business people to create a strong personal brand on the Internet, and to provide a platform whereby professionals can showcase all their skills and abilities and at the same time rank highly on Google.

Creating a personal brand doesn’t have to be a daunting task; follow these five simple personal branding tips and you will have potential contacts eating out of the palm of your hand in no time: Step 1: Tell your story Your Google results have become your calling card, and may be the only time you get to tell your story and tell potential contacts who you are and what you are about. Making sure you have a professional profile that reflects your personal brand is crucial, as this will be the first port of call to tell people what you represent and what you can bring to the table. Once a potential contact has finished reading, they’ve either been convinced to deal with you (great!) or they’ve received enough information to know that you aren’t what they are looking for (not so great but at least they have been able to come to this decision quickly and easily and not had to scroll the Internet looking for you – which can be extremely

frustrating). Either way, having a professional profile that clearly defines who you are provides contacts with a platform where they can get to grips with you and get in touch, while simultaneously giving you peace of mind that the Internet is working for you.

Step 2: Connect and network Online networking is a must in today’s business environment, and LinkedIn is the largest of the business networking sites; so you can connect with just about anyone you need to. Publish interesting things, make sure you respond to networking requests in a timely fashion and lock down your list of contacts so they’re not available to anyone who looks, and you can’t go wrong. For some, Facebook accounts can be beneficial for business as long as you put up interesting and relevant posts. However if you just use your Facebook account to post holiday snaps and talk to your friends make sure you enable all your privacy settings. Twitter is a great tool to boost your online profile, but it does require a lot of upkeep and engagement. If you think you’re ready for this, then engage with influential people and post useful information that you think will interest your audience.

72 July 2012

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05/07/2012 12:30

Focus on marketing PERSONAL BRANDING

Step 3: Monitor your CV Ensure that you know what people are posting about you: it’s an essential part of your business armoury. You may be surprised where and in what context things from the past crop up again. Given that we’re all busy people and can’t spend every day Googling ourselves, simply automate the monitoring of what people post about you so you have it delivered to you.

It’s vital that you know and can react to what your contacts can find with as little effort as possible. Google Alerts is great for getting a real time view of what’s being said and with the world’s largest search giant behind it, you know it’s going to be fast. But beware: set up an alert for your name “Joe Bloggs” and you’ll receive alerts for everything on the web that contains that name, which may defeat the purpose of getting the alerts. Profiled.com is pretty intelligent, so you’ll get a well filtered list of what’s being said about you; but the reports

are only available weekly. OK for some, not timely enough for others.

Step 4: All business?

Allow your personality to shine through when you’re creating your profile, blogs and social media presence, as this allows people to connect and relate to you. If your contacts share your values and they like and trust you, then they will be more inclined to do business with you rather than your competitors. One of the most popular features on Profiled. com is the 60-second interview feature. The way people answer the interview questions speaks volumes about their values and outlook, which is vital when communicating your personal brand online.

“Creating a personal brand doesn’t have to be a daunting task”

you. Stick to your core topic and make sure that the content is interesting and relevant to your readers. If you’ve got plenty of useful and relevant things to say, writing a blog will be hugely beneficial.

Having a strong personal brand and online presence is now an essential part of every business professional’s toolkit, and is key to business success.

The Internet just became your biggest ally – so use it to your advantage!

Contact: www.profiled.com

Step 5: Be the expert Blogs are a great way to position yourself as an expert in your field, and they’re hugely influential with Google when new contacts are searching for

talkbusinessmagazine.co.uk 73

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05/07/2012 12:30

‘On average 89% of online transactions are abandoned’ (Forrester Research)

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ecosystem within which you function “onThe the web contains mind blowing data you can use to become better. ” Avinash Kaushik

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-commerce merchants with a structured approach to online conversion are twice as likely to have seen a large increase in sales.

Remarketing is used by a significantly higher proportion of organisations to target abandoning customers (+14%), becoming the second most popular method for getting the attention of these customers. However a large proportion of companies surveyed (67%) still do not quantify how much of their online revenue is lost through site abandonment. (Source: Econsultancy Reducing Customer Struggle 2011 & Conversion Rate Optimisation Report 2011)

How far down the funnel are you looking?

abandonment and few companies have discovered what their challenges are in this area.

It is imperative to both keep leads flowing into your business and do so at a lower cost, and following the ROI metrics in third-party web analytics program, or trusting instincts to lead you in the right direction because you have no metrics on which to rely, is not enough. It’s now time to embrace failure-based metrics like abandonment rates and VeCapture’s enterprise-level, award-winning technology is now available to do this for you. Simply and efficiently and with no upfront costs, remuneration occurs instead on performance for converting abandoned transactions.

VeCapture offers you the chance to not only discover where your pain points are within your web site, (which can be great source of actionable insights alone and can support your existing analytics tools), but more importantly brings you rich aborted transaction data to shepherd into your CRM pipeline for remarketing targeting – As much as 46% of abandoned traffic convert when remarketed to (Source: Forester Research). VeCapture is the only asynchronous JavaScript code on the Market (and it’s also cookie-free!) It captures all data at field level and in real time before the visitor clicks submit. (NB. synchronous code can take a site down).

So let VeCapture help your company rise to today’s increasing pressure to deliver measurable results.

Today’s users are visiting your website from all directions, with individual objectives. The more a marketer knows about how the consumer arrived at the site, what they wanted to accomplish and why they abandoned, the better the chance they have of fulfilling their needs and increasing conversions.

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Many B2C marketers are realising that even the most popular analytics programmes only show the impact of the ‘last click’. This blind spot is a problem especially at a time when virtually all e-businesses are facing lengthening sales cycles, reduced budgets and staff cut-backs. The majority also perceive the greater value to be in the higher funnel engagement of users rather than down funnel

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11/07/2012 09:42

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11/07/2012 09:42

Focus on marketing VIDEO MARKETING

Annabel Venner, Hiscox UK’s marketing director, explains how SMEs can use video to bring their business to life

Let me entertain you If anyone still doubts the popularity of video as a communications channel, then look no further than YouTube, which recently announced that its users upload three days’ worth of new video content every minute. The motion picture in short video format still has the ability to fascinate and entertain; but can it deliver commercial results for small businesses looking for new and inventive ways to market their services?

What do you want?

Video can be a highly effective marketing channel for SMEs, particularly now the production costs have fallen so dramatically. Good quality cameras are cheaply available, while the software needed to edit a video and make it look professional is also readily accessible and user-friendly.

Before you jump into the director’s chair or nominate sales for that leading role however, the starting point for any small business thinking of using video is in thinking about what you want to achieve. Is it about awareness of your business? Is it about educating your audience

around a particularly complex product or service area? Or is it simply about improving customer service?

Lights, camera, action...

Once you’re clear in your own mind about your goals, then comes the creative bit.

Regardless of budget (more on that in a moment), you should have four key thoughts in mind: • Keep it short – not much longer than a minute or two (attention spans are short) • Think about the look, feel and tone of voice – how do you want your business to be portrayed?

• What are the key messages you want to get across?

• How will it engage your audience? Why should your target audience click on it?

Make it visible Given the vast amount of video content out there, the biggest challenge is not in the making; it’s in ensuring your target audience actually gets to see your handiwork. If your video is all about raising awareness, there is little point in putting it on your website and hoping that passing customers will take a look. They won’t. Think instead about what websites

“There is little point in putting it on your website and hoping that passing customers will take a look”

your potential customers go to, and see if you can buy some advertising space – it might be a video banner for instance, which links back to your site. Consider using social media to publicise the video as well as any direct marketing you do, whether online or in print. In terms of budget, you should reckon to spend up to 20% on the actual production of your video, while the other 80% should go towards promotion for the video.

Measure it Measurement of course is at the heart of any good marketing activity, and video is no different. Whether it’s knowing how many views have taken place or click-throughs to your site, you should be in a position to understand whether the return on investment has made it all worthwhile. Get it right though, and videos can be invaluable at getting both simple and more complex messages across in a way that engages and entertains.

Contact: www.hiscox.co.uk

76 July 2012

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05/07/2012 13:31

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09/07/2012 14:13

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10/07/2012 10:19

Focus on marketing E-MARKETING

You’ve got mail Jason Holland, creative director at Underwired, teaches us how to be more inbox savvy Whether an inbox has 10 or 100 unread messages every morning, the window of opportunity for your email message to grab the recipient’s attention and change their behaviour (e.g. click something) is extremely brief.

But, once you know how an email is consumed, you can be much more confident that your brand message will rise above not only other emails, but also the distractions a viewer may have – anything from other emails to the dribbling commuter falling asleep on their shoulder.

The subject line is an obvious place to start. Leaving out words that a spam filter would intercept and keeping it short so it can be read in its entirety is obvious, but how about the 20 or so words that appear at the top of the email, shown under the subject line in your email application email list?

This is your opportunity to reach beyond the punchy and informative subject line, and tease the viewer with more than the usual ‘Can’t see this email?’ which, while important, doesn’t need to be the first text viewable.

Once clicked and viewed, make it obvious why the email has gracefully landed in the recipient’s inbox. Did they subscribe? Then use their name. Is it an offer? Make it relevant to the data you have about them already. Is it

informing them of something new? Make it focused to just two or three elements, rather than listing everything they might want to know.

The design should be bold, simple and, if the viewer has had any exposure to the brand previously, recognisable. This “virtual window dressing” of the text contained is also going to make or break the legibility, usability and brand impression you are sending.

Do not design your email so that it is just a print ad cut up into square graphics.

This will not show any text in a preview, not load in some email environments until a button is clicked, may load slowly on mobile devices and is not a template you can easily re-populate or update. Make it with as much live/HTML text as possible – and don’t forget the text only version.

By designing a flexible template that can adapt to a number of different elements, with each element having a different length of “live” text each time (without altering the code), you can concentrate your time and resources into making great graphic elements and polishing the copy. This, along with personalised and relevant content, will help to grab the recipient’s attention and direct them on the next step in the customer journey.

With a flexible structure that isn’t just graphic-based, which

“Make it obvious why the email has gracefully landed in the recipient’s inbox”

has some insight into where it is being read (on a train with a bad connection, on a Sunday afternoon when there’s time to spare), an email can be more than just another message among hundreds of others.

It can be attention grabbing, memorable and convince people to click through…it’s then up to the rest of your eCRM programme.

Contact: www.underwired.com

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Focus on marketing WORD OF MOUTH

WORD UP Kristel Valaydon, founder of KV Communications, argues that harnessing word of mouth through a long-term PR strategy is crucial when marketing your business

W

“Undertaking PR for a short period of time is false economy”

hen company owners are faced with a multitude of marketing disciplines to promote their business, they often look at what’s going to deliver that crucial return on investment in the fastest time. Most people view public relations as a quick way to reach their audience through the media. While coverage and seemingly overnight success may look and feel great, is it really the right approach if it’s shortlived? Striving for long-term success should be any company’s business objective and reputation management is perhaps the best way to encapsulate what

PR can offer a young, or even established, company.

Considering PR with a long-term view helps lay solid foundations on which a company’s reputation is built, established and strengthened through open communication, advocacy, trust and, ultimately, loyalty. It can change perceptions and even influence change, but it does take time. You’re recruiting carefully chosen ambassadors – be it media or customers directly – to engage and advocate what you do. You’re welcoming and encouraging the flow of open and perhaps

critical communication. You’re creating relationships from which reputation and loyalty are developed.

So, how to start? Simon Sinek’s TED talk “Start With The Why” offers one of the clearest approaches to building a successful brand.

‘Do business with people who believe what you believe,’ Sinek says. A company’s passion and drive behind what they want to achieve is what attracts the faithful, long-standing customer. Sharing these values with its audience, it becomes a trusted company from which to purchase the services or the products it rolls out.

The media landscape has changed, especially with the influence of social media and bloggers and how media now works in general. I still hear marketeers mistakenly refer to PR as securing “blanket coverage”, not the targeted approach that many professionals actually adopt.

PRs are now adopting a more integrated communications approach, including traditional methods in conjunction with other marketing and comms tools, to deliver business objectives more effectively.

While this seems a clear-cut approach, there can still be a few hurdles along the way.

Fluid communication should start from within. Work as a team together and, by simply planning the roll out of your communications strategy, it is coordinated, informed and most of all constructive for your business. Finally, internal promotion of your external activity is often neglected.

It shouldn’t be. Not only does it motivate staff, it also encourages them to help drive the business forward with you.

Commonly asked questions: Where’s the ROI? Agree how you evaluate your activity. PR is dismissed and often considered “fluffy” because ultimately we’re engaging people on an emotive level. Measurement of reputation

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Focus on marketing WORD OF MOUTH

“Look for quantifiable results i.e. whether the key messages about the brand were communicated”

or how perceptions might have been shifted requires pre- and post-campaign research, which can be costly and is often refused by clients. Look for quantifiable results i.e. whether the key messages about the brand were communicated, how this was an influential piece of activity, how, if at all notable, did this encourage trial, change or a reaction.

Does coverage equal sales?

Even with a call to action – rarely. An exception may be a time-limited, sales-driven offer, which is published in a correctly targeted title to a reactive audience. It does however generate awareness, recognition, understanding and interest. It can position the company as a source of authority, knowledge and expertise – all valuable results for a company’s success.

Is PR the cheaper marketing option? PR is not cheap, there is still a lot of time and effort required by the client, whether they handle their communications internally or pay for the services of an external agency. Remember to factor in time for planning, ongoing communication with agency, suppliers and media, updates and reviews.

There is also the creation and maintenance of required essentials to fulfil your PR activity, such as photography, media monitoring, evaluation etc.

Can we just use PR for a couple of months? Undertaking PR for a short period of time is false economy. While a launch can take three months to a year, building reputation and wordof-mouth endorsement doesn’t rest on the number of clippings

secured. Think about this realistically when considering your investment and envisage how the communications strategy links back to the business’ long-term goals.

PR can be one of the most influential ways in which to help communicate the company you want to launch, the brand you want to build, and engage and secure the customers you want to do business with.

By understanding its true value and integrating the role within your business and overall objectives, it will help to create and build the foundations to manage your long-term success.

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09/07/2012 14:48

Focus on people

Columnist Lee McQueen, director of Raw Talent Academy, says recruits need talent, knowledge and achievable goals to get ahead in sales

BIRTH OF A

SALESMAN Sales is at the heart of every business, and the quality of the sales staff employed by any business can mean make or break: but how do you make sure that you have only the best on your floor?

For me, the most important attribute for anyone looking to either get into sales or further their career, is a solid work ethic. You have to work hard. If you are the sort of person who thinks that opportunity will drop in your lap without you having to hunt for it, you are not going to be good at sales.

To be motivated, you need goals. They don’t have to be financial, but you need something to work towards; whether you want to buy the next Bentley GT, or you just want to go partying, you have to want to reach it. Split your goal into milestones. This lets you feel like you are achieving, not just every month or quarter, but every day of every week.

If you know what you are going to achieve in a day and

you know how it fits into the bigger picture, then the motivation will come.

In my opinion, the raw attributes to being a good salesperson come naturally.

Everything else can be taught.

Knowledge is power and anyone who wants to do well in sales needs to access it. This knowledge is at the end of your fingertips with the Internet and it allows you not only to learn from the customers you will be selling to, but also learn from the experience of people who have done it.

Don’t rely on being spoon-fed; you need to be able to selfimprove all the time.

I believe that a good salesperson can sell anything – but you have to have belief in your product. Could I sell you a pen? Yes. I could sell you one because it’s a product I’m familiar with and use every day.

Could I sell you a complex timeshare scheme? No I couldn’t, because I need to understand the product that I

“Knowledge is power and anyone who wants to do well in sales needs to access it”

am selling, who I’m selling it to and what they actually need.

It’s important for any salesman to get to know their product inside out, and that’s what I aim to do with Raw Talent Academy – to get to know your business needs. If you are armed with the fundamental sales skills then you can go into any sector, but product knowledge is vital. It’s about finding a need and then offering the right solution to take that need away.

Contact: www.rawtalentacademy.com

Lee McQueen is the former winner of The Apprentice who now runs Raw Talent Academy, which aims to provide SMEs and corporate organisations with the vehicle to build internal sales academies into long-term staffing plans. With over 12 years’ experience working in recruitment and over eight years as an employer of salespeople, Lee is passionate about giving job seekers an opportunity to earn a career.

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01/05/2012 13:46

Focus on people BUSINESS WEAR

LOOKING

THE BUSINESS Neil Fennell, the expert tailor who co-founded luxury English tailors October House with Dave Berry, is here to tell you how to dress for success

It was a match made in heaven when tailor Neil Fennell and radio and TV presenter Dave Berry joined up to launch a classic tailoring house, aimed at making English tailoring affordable without compromising on quality. ‘Dave and I both love classic tailoring and we want to bring back the romance of the suit,’ says Neil. Here he picks some classic work wear that will take you from a business brunch to cocktail hour with clients.

The working lunch

1 The three-piece preppy look has a very contemporary feel to it. The waistcoat combination with the button down collar and skinny tie lends for a cross between traditional tailoring and a modern day twist. The style-orientated young to middle-aged man would be suited to this look. It would be a good style for someone who has a sense of classic tailoring mixed with a bit of the contemporary. It could easily be worn in media circles or the banking world. Flattering on the tall, slimmer young man because of the low-rise trouser and the low fronted waistcoat.

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Focus on people BUSINESS WEAR

The formal meeting

2 Harping back to more traditional days of the city gent, this combination has always been associated with the city.

Nowadays, a subtle pinstripe can be worn on any formal occasion. Dressed up with the waistcoat and skinny tie, this look will complement most figures. Not to be confused with the chalk stripe, the pin stripe is still very much contemporary and gives a cool, flattering look in modern business. Better suited to slimmer, athletic figures, but if cut right equally accessible to the broader man.

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Focus on people BUSINESS WEAR

The use of a roll neck with a suit jacket is becoming more and more common nowadays. Good for dress-down occasions or less formal meetings. Moving away from the traditional shirt and tie look, the jacket can be worn with a nice flannel or even a suitably cut denim trouser. For those men who have lost the idea of dressing down, this is a great example of how to look stylish and sophisticated but not too stuffy. The blue blazer should be a staple part of any young, middle-aged or older man’s wardrobe.

3

The after-work drinks

Contact: www.october-house.co.uk

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05/07/2012 14:24

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09/07/2012 15:45

Focus on people CUSTOMER SERVICE

Customer imperative

“How can staff be empowered if they do not have the full picture?”

There is no doubt that investment in and attitudes towards customer service have changed radically over the past decade.

According to the Institute of Customer Service, there is a direct link between high quality customer service and customer retention, reputation and business performance.

Yet in recent years, the concept of customer service has become blurred. While organisations recognise the importance of customer retention and have made clear efforts to become more efficient in handling queries and improving call resolution times, they are primarily focused on increasing revenue creation opportunities, leveraging customer service insight to drive up product quality, and cross-selling.

Tangible improvement

The Institute of Customer Service has identified a number of areas of focus to improve business growth and deliver return on investment – at the heart of which are concepts of trust and confidence.

Such changes are meaningless unless backed up with required information. How can staff be empowered if they do not have the full picture of the customer history in order to make effective decisions? However well-trained

the agent, if the information required to resolve the issue is scattered across emails, or other manual documents, simply assessing the status of the order will require significant time and certainly can’t be resolved over the phone.

Information completeness

There are several fundamental issues to ensure the rapid, one time problem resolution customer’s demand. And the most essential requirement is speed of information access.

Organisations need to provide customer service agents with rapid access to pertinent customer information.

This information needs to be provided in context, in a way that can highlight the full history of the customer’s interaction. A flexible approach to information management transforms the customer service process.

A complete 360-degree view of the customer gives organisations the ability to make these soft changes, delivering real benefit. Rather than limit customer service staff to specific information, providing team members with a complete, searchable history of a customer relationship can dramatically increase the proportion of queries resolved first time.

There is also a clear cost benefit. Customer service staff

are more effective and productive when customer call backs are radically reduced. Having created this complete searchable information resource, it is also then far easier to build a selfservice option for customers that delivers problem resolution at a far lower cost.

Gathering and acting on customer feedback is one of the eight requirements cited by the Institute of Customer Service – by creating a full audit trail of customer interactions, organisations can not only analyse performance, but also use automation to address recurring problems within the customer engagement processes to ensure proactive steps are taken to resolve them.

The bottom line

Rapid, “right first time” resolution is at the heart of good customer service. It drives retention and therefore feeds directly into the bottom line. And whether it is achieved through self-service via online tools or the completeness of a customer service form, it ensures the problem is solved quickly.

Contact: www.invu.net

At your service The science of good service: Colin Gallick, CEO of Invu, fills us in on resolving customer problems, fast

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05/07/2012 14:26

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09/07/2012 15:51

Focus on people REMOTE WORKING

Easynet’s UK managing director, Ivan Gunatilleke, outlines the recruitment benefits of remote working

Embracing change

“It will be a real differentiator for recruitment”

With a 68% increase in remote workers in 2011 compared to 2010, working away from the office is becoming more and more prevalent.

This is no surprise as the benefits are clear to staff, to many employers and to the environment. In 2011, TUC research revealed that employees spend almost 200 hours a year – the equivalent of five extra weeks of work – commuting to and from the office. Reducing this has an immediate impact on the “softer” benefits to staff of home/life balance, and also reduces transport congestion.

Staff sickness currently costs UK businesses £17bn per year and home working, says non-profit organisation Work Wise, plays an important role in reducing this.

By 2013 it will become a legal right for businesses to extend flexible working to all staff, rather than just parents and carers. Each application will be assessed by the business on a case-by-case basis. For employees looking to improve their work/life balance, this will be welcomed. For businesses which embrace flexible working, it will be a real differentiator for recruitment.

Technology will continue to play a prominent part in making this happen. Flexible working, combined with an increased business uptake of mobile devices such as smartphones and tablets and the surge in collaboration technologies such as Microsoft Lync, means that more and more businesses are realising that they are in a position to bring work to their people, rather than encouraging their people to physically come into the office.

Earlier this year, we predicted that “Smart People” would be a key theme for 2012, where these fully supported remote working processes would help employers and recruiters to source the right people for roles, without needing to take into consideration their geographical location. In theory, a properly-provisioned remote working plan gives employees access to the relevant business information and applications, no matter where they are in the world. This means, for example, that if the business is based in London and the right candidate is based in Exeter, the distance between the locations should no longer stand in the way of them getting the job, nor should it force them into having to relocate.

This is great news for businesses. After all, instead of having to focus on geographical factors when hiring for a job, they can concentrate on bringing in the best possible person, with the right talent and skill set for the role. And with organisations actually able to take work to their employees rather than vice versa, there’s a whole new opportunity for the economy to benefit from a global pool of talent.

A robust cloud deployment is at the heart of making this notion become a reality. This involves not only the use of cloud technology, but also ensuring that the network infrastructure underpinning it is properly managed and as resilient as possible.

Ultimately, a future in which business can find the best people for the job by taking work to people, rather than people to work, could be great for a number of organisations.

Contact: www.easynet.com

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09/07/2012 14:54

Focus on people UNFAIR DISMISSAL

A

ny new employee taken on after 6 April 2012 will need to have gained two years’ continuous service with the same employer in order to bring a claim for unfair dismissal. This is an increase on the one year qualifying period previously in place, and is designed to stimulate growth and confidence among employers.

This measure has been met with hostility from some trade unions, including the TUC, which claims that the change will mean around 2.7 million workers across the UK will be at a higher risk of losing their jobs. In particular, the TUC has identified younger workers, part-time female workers and those from black and ethnic communities as being most at risk of discrimination under the two-year qualifying period.

Speaking on the subject, TUC General Secretary, Brendan Barber, pulled no punches in stating that the measures: ‘risk generating a “hire and fire” culture in the UK, and will lead to the creation of insecure employment, which is here today and gone tomorrow’. He went on to state that, far from meeting the Government’s aims, the move will ‘do nothing to boost the economy’, and argued that ‘if people are constantly in fear of losing their jobs, it will lead to even less consumer spending’.

Such vitriol from the TUC may have been expected, but is it justified?

A key aim of the change is to reduce some of the demands on employers, encourage growth, reduce employment tribunal claims and provide greater flexibility for employers in managing their workforces.

This emphasis on delivering a more flexible workforce and giving employers more confidence to take on new staff is an understandable one in

the current climate. As John Longworth, Director General of the British Chambers of Commerce (BCC), stated recently: the measure to double the qualifying period ‘sends the right message to business’ and ‘will boost their confidence to hire’. In fact, the BCC hopes for further reform to redundancy rules in order to further encourage growth. Longworth continued: ‘Although this is a good start, more changes are needed if the Government is to create a really hard-hitting deregulatory package for the labour market’.

This view is backed up by a survey conducted by the BCC in 2011, which found that 47% of businesses felt the regulations to be “extremely” or “fairly” burdensome.

One of the key benefits to employers is the additional time now available in order to

“Such vitriol from the TUC may have been expected, but is it justified?”

assess the employee and their contribution to the employer’s business. Indeed, the change has a potentially significant benefit for employees.

Previously, if an employee was struggling, the employer may have tended to terminate their employment in order to avoid exceeding the old one-year unfair dismissal qualifying period. The two-year qualifying period will give employees more time to achieve the standard required and employers more time to properly assess them.

This is the view taken by Dr Neil Bentley, Deputy Director General of the Confederation of British Industry, who believes that the increase will ‘give employers, especially smaller ones, confidence to take on more staff’. If the change means that more employees are able to demonstrate their value to employers, this will also

The two year itch The qualifying period for bringing an unfair dismissal claim just got longer. Sukhpal Matharoo, employment associate at Blandy & Blandy, considers what the change means for businesses



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Focus on people UNFAIR DISMISSAL

reduce the need for employers to return to the recruitment market as quickly and often – potentially saving them money.

Ultimately it is hoped that the extended qualifying period will mean that more people are employed for a longer period of time, while employers and businesses can be confident that, where necessary, changes in the workforce can still be made without fear of reprisal.

With this reasoning, the introduction of a two-year qualifying period is of benefit to both employers and employees, particularly at a time when growth and confidence are desperately needed. However, as we have seen, the TUC argues that the change in the law will increase job insecurity disproportionately, with certain groups affected more prominently than others.

For instance, it insists that 1.4 million part-time female workers have been with their

current employer for less than two years. The TUC also explained that 61% of employees aged 24 or under have not been with the same employer for at least two years.

This figure contrasts with those aged 30-40 (24%) as well as those between 40 and 50 (17%).

The unions are concerned that although employers’ confidence will be increased, this includes the confidence to fire employees without proper care and attention.

It’s important to note that employees will still retain the right to bring a claim at any stage of their employment in respect of discrimination, or in cases where the dismissal is judged to be automatically unfair. In fact, there is an argument that there may be an increase in claims relating to these grievances, particularly discrimination, when a claim for ordinary unfair dismissal is not available. This view appears

to contradict the argument put forward by the Government that the changes in the law will reduce the number of claims.

Indeed, Dr John Philpott, chief economic adviser at CIPD, states: ‘Employees are increasingly bringing claims linking unfair dismissal with discrimination claims, which can be made from day one’.

The Government claims that there is no evidence to suggest that there will be an increase in discrimination claims, although it’s difficult to see how this risk can be completely discounted.

A key issue for employers faced with discrimination claims is that compensation for such claims is uncapped, unlike unfair dismissal cases. As such claims are often more complex than standalone unfair dismissal claims, they are often more costly to defend and, even if the defence is successful, costs are still rarely awarded by the tribunal.

“Employees will still retain the right to bring a claim at any stage of their employment in respect of discrimination”



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09/07/2012 15:59

Focus on people UNFAIR DISMISSAL

The other main issue lies with the validity of the change from a discrimination law perspective. As we’ve seen, these changes are likely to affect certain groups more than others. It is therefore quite possible that the change will be challenged by individuals who are disproportionately affected by it. If an employee can show that they are being treated less favourably on the basis of a “protected characteristic”, such as age, race or sex, as the TUC suggests will be the case, they may advance an argument that they have been indirectly discriminated against.

The Government has faced this challenge previously.

Following an increase in the unfair dismissal qualifying period from one to two years in 1985, a challenge was brought in the case of Regina v Secretary of State for Employment. In the case, it was held that although the unfair dismissal qualifying period was indirectly discriminatory, it was

justifiable as a proportionate response to a legitimate aim.

But things have moved on since then, and we now have the Equality Act 2010 as well as the addition of age as a protected characteristic. It’s far from certain whether the courts and tribunals would reach the same decision in 2012 and beyond as they did in 2000.

Notwithstanding the risk of challenges and further litigation, the change in the qualifying period for unfair dismissal is now in force and there are some practical steps that employers should be taking now to best respond to the change. Firstly, it would be worth reviewing and, if appropriate, amending the length of probationary periods in precedent contracts of employment to ensure that the contracts of any employees joining on or after 6 April 2012 take into account the extended period of time now available to review employee performance.

Similarly, any relevant staff policies and procedures dealing with probationary periods should also be reviewed.

It is also advisable for those employees with responsibility for managing staff to be made aware that the change in the law does not remove the risk of unlawful discrimination claims, and so it’s still important to

“The change has a potentially significant benefit for employees”

ensure that all staff – new and old – continue to be treated fairly. Such managerial staff should also be made aware that the change only covers new employees joining on or after 6 April 2012 – those who started before this date and have accrued a year’s service are already protected against unfair dismissal.

Many believe the increase in the qualifying period to two years is a positive step for employers and will, arguably, create a more confident and stable environment in which to hire new staff. But in time we may see issues arise as employees seek new methods to enforce their rights; this may undo a lot of what the Government hoped to achieve in terms of reducing claims and creating a more confident, flexible labour market. Given that the measure applies only to workers employed from 6 April 2012, there will inevitably be a delay in seeing the results.

Only time will tell how successful this move will be, and how big a role it will play in kick-starting the job market.

Contact: www.blandy.co.uk

Next Steps 1. Review and amend probation periods 2. Review any relevant staff policies and procedures dealing with probationary periods

3. Make managing staff aware that the change doesn’t affect unlawfuldiscrimination claims

4. Make managing staff aware that the

change only affects those that started on/after 6 April 2012

100 July 2012

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05/07/2012 14:41

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09/07/2012 14:25

Focus on people SECRET DIARY

Day 1: Marbella

Secret Diary of an Entrepreneur In a bid to combine business with pleasure Helen Buteux, founder of D3 Marketing and I Am Now Media, headed for Marbella but found that time and sunshine were both in short supply

On the red-eye flight to Spain, staff of that orange airline with a less-than-impeccable reputation greet me with enough warm smiles to brighten even this dullest of British mornings. My PR team create hype but it’s always good to remain open-minded about the bad stuff you hear, as it allows life to be pleasantly surprising. The airport sandwich sadly isn’t.

I’m heading to Marbella on a trip to look at opportunities to link two clients’ businesses, and to oversee a filming project.

DSV Villa Collection owns three stunning luxury rental villas (my home for the week) and No1 Bootcamp has just launched fitness bootcamps in the region (my pain for the week). In the middle I’m shoehorning in the filming and photographing of the villas, a project that would normally take five days per property. We have just three days to deliver it, which means my plans to get reacquainted with the pool and sleep after

five months without a day off are already looking hopeful at best.

Day 2: Villa el Cano

The villa is incredibly beautiful, and along with Nicky and Rupert – two bootcamp guests – its ten bedrooms, three floors, two pools, one sauna and sea views are all mine to enjoy.

With a bedroom the size of a London flat and TV the size of a wall, it’s something of a shock to the system to find myself halfway through a hard-core gym session at 7.30am instead of having a lie-in.

We are at a secret No1 Bootcamp location up in the hills behind Malaga, where the instructors serve up tears, tantrums and toned bodies before breakfast. This is my eighth bootcamp experience.

Aside from my rather questionable addiction to the physical pain, it’s the journey through complete emotional breakdown to invincibility that really fascinates me every time. It’s a particularly powerful transformation in women –

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05/07/2012 14:46

Focus on people SECRET DIARY

“The life of an MD is not always a glamorous one, even in Marbella”

“It’s something of a shock to the system to find myself halfway through a hard-core gym session”

from young mums to senior CEOs, we seem to accumulate more self-esteem baggage than Louis Vuitton.

Ian Dickson, my business mentor, knows that limiting self belief is the biggest obstacle to business growth – as a female entrepreneur, my demons are kept at bay through physical bootcamps and Ian’s mental coaching.

The third exercise session looks like an absolute killer so I’m glad for the excuse of a marketing meeting with No1 Bootcamp’s director, Deena. A past employee has “acquired” a copy of their customer database and is using it to promote one of their competitors. With so much media attention around data protection laws, my clients are well aware of their obligations and consequences of misuse, but employees less so. A potentially costly naivety. Following the ‘every cloud has a silver lining’ philosophy, we plan a brand reputation CRM campaign to counter the attack over a glass of water (cold turkeying from coffee is part of bootcamp).

Day 3: Lights, camera...

The videographer arrives without the right equipment, preparation or a clue about how to do the work to brief. I lose 24-hours of my filming window acting as story-boarder, chauffeur, logistics, counsellor and finally executioner. After this week the three villas aren’t empty again until October and we won’t get another opportunity.

Thank God for a big LinkedIn network, Google and passable Spanish. Panic is not an option. Action is. At midday, after rapid negotiations conducted overlooking the sparkling pool that I still haven’t dipped a toe into, I hire a local filmmaker. By 1pm I’m lying on the floor providing the “door opening” movement for the walk-through lounge shots. The life of an MD is not always a glamorous one, even in Marbella.

Day 4: Editing

Near hurricane wind and rain make today’s filming

challenging, so we switch to editing. The client sees the rushes and asks if we can stop the palm trees flapping so frantically and brighten the sky!

Time to catch up on emails and arrange a meeting with Brad Burton, larger-than-life founder of 4networking.biz. Brad’s best selling book “Get Off Your Arse” is still in my luggage waiting for some pool time. It might be waiting a long time.

Quick call in to ex-Dragon James Caan’s HBVP team back in London about PR coverage for an upcoming event we are media partners for. Hosted by entrepreneur Dave Symondson, we are hoping to get over 150 of the south coast’s leading SMEs together to talk about boosting business growth.

D3’s new project manager, Sarah, seems to be keeping things ticking over at the office.

She hands me the writing of a marketing strategy for a legal firm and copywriting for a tourism website we’re developing.

She has already learned the art of delegation perfectly.

Day 5: Home time?

The last day was supposed to look like an afternoon with friends in London but turns out to be another morning filming in Spain due to the terrible weather we had all week. I’m tasked with rolling a golf ball across the putting green. Hole in one. There could be worse ways to spend a weekend working I guess.

The villas look incredible in the blazing sunshine today, the client is happy and the property manager has just popped over with a jug of Sangria.

I think Sarah might be delegating the next film assignment abroad to herself.

My bootcamp training may come in useful for the inevitable bun fight!

Contact: www.iamnowmedia.com www.d3marketing.co.uk

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09/07/2012 14:40

Focus on

technology

Daniel Mitchell, founder of Lifeline IT, warns that thinking small when it comes to IT could end up costing SMEs more than they bargained for

Think W BIG

hile being economically prudent and limiting overheads makes sound business sense, cutting corners on technology could threaten security and cost companies thousands of pounds in legal fines.

A recent investigation by the Information Commissioner’s Office (ICO) revealed alarming lapses in security around data removal from hard drives that had been sold or passed on by companies and individuals.

The investigation analysed the amount of data left on computers, laptops and other mobile devices. It found information about employees, their companies and clients, including personal health and financial details.

While the organisations involved were given only warnings and asked to tighten up IT security, other companies may not be so lucky – breaches of the Data Protection Act could result in a fine of up to £500,000.

Under the UK Data Protection Act, companies are responsible for all data they receive from the moment they acquire it to when it is destroyed.

Another key reason for ensuring IT systems are robust is the increasing threat to businesses of cyber crime, which has been ranked as one of the top four risks to national security by the Government. A third of the world’s population now uses the Internet and it is key to global commerce, communications and entertainment. But as the 

talkbusinessmagazine.co.uk 105

105_107 invest in tech.ga.indd 105

05/07/2012 14:52

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09/07/2012 14:58

Focus on technology IT INVESTMENT

world’s dependence on cyber space increases, so do the opportunities for crime.

One business group most at risk from cyber crime is small to medium-sized companies, which account for 70% of GDP. From Lifeline IT’s own experience working in the sector, small businesses have a major challenge when it comes to IT security – they have fewer resources than larger companies, but still have to maintain the same security standards.

Research we carried out revealed that a worrying two-thirds of companies said economic pressures had led them to slash their IT budget, despite 74% acknowledging that modern IT systems need more specialist support.

A further 95% of those questioned by Lifeline IT acknowledged that reducing technology spend could damage their business in the mediumto long-term.

Although IT operations can be complex, there are some simple procedures that SMEs can follow to ensure they get maximum benefits with minimum risk:

1

Get the right support

Make sure you have the right IT support in place. Companies are now embracing technology rather than seeing it as a necessary business function, and the rise in mobile and flexible working has created an even greater demand on services. From a financial perspective, outsourcing IT is often the most cost effective route – employing an internal IT team can be up to three times as expensive as using an external supplier. Outsourcing IT also adds a highly flexible resource to an organisation; unlike any internal alternative, it is easily switched on and off, grown or shrunk, which is an attractive advantage for SMEs.

2 Be aware

Keep yourself up to speed with what’s happening in the IT

world. Make sure you’re aware of what’s happening in your own organisation and among your employees – the growth in mobile communications now means that the majority of staff may be carrying confidential company data (such as email contact details) in their pocket, via a PDA.

3 Identify critical systems

Identify the IT systems that are crucial to your business, so a recovery plan can be put in place to retrieve information in emergency situations. What is the critical data that you need to keep operating should a disaster happen?

This critical data needs to be stored in a central location that can be accessed quickly – there’s no point holding it on a server or USB disk if no one can get to this in an emergency.

4 Know the risks

The obvious risks are accidental, for example, hardware failure or damage from flood, fire and theft.

A company can be at risk from its own employees, often unintentionally. Flexible working now means the divide between home and office is blurred – employees could be using a shared family PC that does not have the same IT safeguards in place as a work computer.

Even systems designed to secure information can be vulnerable to security lapses – passwords are often written down and left in unsafe places.

Workers are frequently travelling around the world with highly confidential information on their laptops, PDAs and tablet devices that can be misplaced or stolen. Every week, nearly 1,000 business laptops go missing at Heathrow airport and only half of these are recovered.

5

situations and consider different options for backing up your critical system data. Many companies are now choosing to back-up certain data online, as well as using back-up tapes, which enables business critical information to be accessed quickly from any location.

6 IT security policy

Companies underestimate the importance of having an IT policy – it should be a set of guidelines that all staff understand and buy into.

Your policy must be concise to ensure it is read and understood – a couple of pages should do the job.

“Breaches in the Data Protection Act could result in a fine of up to £500,000”

“The majority of staff may be carrying confidential company data in their pocket”

Contact: www.lifelineit.net

At a glance…

• Get the right IT support in place • Keep abreast of developments in the IT world • Identify the key systems which you couldn’t do without • Make yourself aware of threats to your IT security • Plan a recovery path for if your systems go down • Create an IT policy and share it with staff

Have a recovery path

You need to plan your recovery scenario, should there be a malfunction in your IT systems.

Plan for all potential emergency

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05/07/2012 14:52

Focus on technology DIGITAL ACCESSIBILITY

Access all areas Are you accessible? Léonie Watson, director of accessibility for Nomensa, breaks down how an accessible website could put pounds in your pocket

S

“Really good accessibility is still rare enough to make it a compelling differentiator for your business”

everal high profile price comparison websites have been in the press recently, but this time for all the wrong reasons. A report has found that five of the UK’s leading brands are failing people with disabilities, and breaking the law in the process.

The report from a UK charity highlighted the problems experienced by disabled people trying to use price comparison websites, but it didn’t look at the commercial realities of digital accessibility. The impact of not getting digital accessibility right can be damaging to businesses, but the benefits to getting it right are very positive indeed.

Let’s get the legal bit out of the way first. Among other things, the Equality Act 2010 requires that the digital services provided by your business are accessible to people with disabilities. For most businesses that encompasses websites, online applications and mobile apps.

To date, no court cases have been brought under the Equality Act, or its predecessor.

That could be set to change however. Earlier this year the Royal National Institute of Blind People (RNIB) issued proceedings against BMIBaby because the budget airline’s website isn’t accessible to blind people.

With no cases tested in court, a degree of complacency has grown up around digital accessibility. What isn’t so well known is that numerous cases have been settled out of court and under heavy non-disclosure. Paying out compensation is one thing, but having your business’ name muddied in the press is quite another!

Which leads us neatly onto the subject of brand reputation.

All businesses trade on their good reputation. Brand is incredibly important to most consumers, and trust is hard won in today’s consumer driven marketplace. So the last thing your business needs is to be highlighted as actively discriminating against people with disabilities. Most businesses would be horrified at the thought, much as they would be if their brand was associated with racism or sexism – both covered by the Equality Act. Let’s look at it another way. There are around 12 million people in the UK with a recognised disability. If you include the 12 million people in the UK aged 65 or over, many of whom also benefit from good accessibility, that’s a fair chunk of the population. Even allowing for some overlap between the two, let’s say 25%, that’s still 16.5 million people who could

be losing trust in your brand.

On the other hand, if you’re getting digital accessibility right, that’s 27% of the UK population that would probably choose your brand over that of your competitors. It’s a depressing thing to acknowledge, but really good accessibility is still rare enough to make it a compelling differentiator for your business.

There is also a more subtle benefit to getting digital accessibility right: positive PR and, more specifically, word-ofmouth recommendations. Most brand experts will tell you that a personal recommendation is gold dust in marketing terms.

People with disabilities often belong to support networks or groups. Word travels fast when it comes to a really positive experience, and recommendations from trusted friends are often a key factor in the decision-making process.

It isn’t just about word-ofmouth recommendations either.

Getting people to your website is one thing, persuading them to return again is quite another. If someone with a disability finds that your business offers them a good (accessible) experience, the chances are that they’ll become a very loyal customer as well as recommend your business to their networks.

Being risk averse and protecting your brand reputation makes sense, but they’re both 

108 July 2012

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09/07/2012 13:51

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09/07/2012 15:06

Focus on technology DIGITAL ACCESSIBILITY

relatively intangible outcomes.

There is a much more commercial benefit that can be derived from getting digital accessibility right.

Let’s think about those numbers. Estimates suggest that disabled people have an annual spending power of around £120bn, and that people over the age of 65 could be spending as much as £84bn a year by 2017. That’s an awful lot of money.

Whether you’re a corporate business in an international marketplace or a local firm with a regional customer base, it makes no sense in today’s economic climate to ignore a potential revenue stream that size. No one business will increase revenue by that entire amount, but if your business attracts just 0.001% of the “accessibility pound”, that’s a cool £20.4m on the table.

There are other benefits to getting digital accessibility right.

It can help boost your natural search engine ranking for one thing, and it can lead to reduced bandwidth requirements and faster download times for another.

Then there’s the feel-good factor. It’s a tough world out there. The forecast is gloomy, difficult decisions have to be taken, and being in business often feels like an uphill struggle. Getting digital accessibility right is a chance to enjoy doing the right thing for all the right reasons. It’s worth it for the sense of personal satisfaction, as well as for the confidence boost it can bring your business.

So now you know there’s a risk to your business if you don’t get digital accessibility right, and a whole range of benefits if you do. All of which leads us to the matter of how you get digital accessibility right in the first place.

British Standard (BS) 8878 is a good place to start. It explains how to create and implement a digital accessibility

“Estimates suggest that disabled people have an annual spending power of around £120bn”

Accessibility by numbers 12,000,000

The number of people in the UK who have a recognised disability

27%

The percentage of the UK population who would benefit from accessible websites

£120bn

The annual spending power of disabled people

£84bn

The projected annual spending power of over 65s by 2017 strategy. In other words, it’s a process to help you make digital accessibility part of your business as usual. You’ll find more information here: www.nomensa.com/blog/2010/ bs8878-web-accessibility-codeof-practice.

So why am I telling you all this? I’m director of an agency, so I understand the commercial realities of digital accessibility.

I work with businesses to improve digital accessibility, and I’ve seen the increased conversion rates and web traffic figures first hand.

I’m also blind, so I know how horrible it is when businesses shut their doors in my face because they haven’t got digital accessibility right. I’m an optimist though, so I have great faith in the business community and your ability to make the UK digital accessibility leaders of the world.

Contact: www.nomensa.com

110 July 2012

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09/07/2012 13:51

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09/07/2012 14:45

Focus on technology GADGETS

3

2

1

TABLETS TO SIGH FOR… Super-portable, stylish and easy to use: ever since the first iPad erupted onto the gadget scene, the tablet has been the must-have toy for the savvy businessman.

Here are four of the best

Samsung Series 7 Slate

Samsung has packed an entire Intel Core i5 laptop into a slim, light tablet that comes with a Bluetooth keyboard.

The Samsung Series 7 Slate benefits from Samsung’s overall design experience; at 1.29cm thick, the Series 7 Slate is particularly thin for a Windows 7 tablet.

Thanks to its dual-core 1.6GHz Core i5 CPU and 1GB of graphics memory, Samsung’s Series 7 Slate is virtually an ultraportable with the keyboard chopped off.

The machine comes with a generous 4GB of RAM, four times what you’d find in a typical Android tablet.

112 July 2012

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10/07/2012 15:02

Focus on technology GADGETS

1

4 2

BlackBerry PlayBook 2.0

RIM’s revised BlackBerry PlayBook offers unbeatable value, putting budget Android tablets to shame.

The PlayBook 2.0’s 7in screen is housed in a metal casing with rubberised back, which makes it comfortable to grip. Everything about it feels solid and reliable, from the front-facing speakers which produce impressive sound quality, to the compact and well balanced chassis that’s light to hold for extended periods but sturdy enough to withstand the occasional knock.

The standout feature is its screen. It displays a 1024x600 resolution, with vibrant colours, impressive detail and excellent viewing angles.

3

Microsoft Surface

The Microsoft Surface is a Windows 8 tablet with integrated stand and keyboard, running on both ARM and Intel systems.

Microsoft truly has paid close attention to the details; this tablet is one of the few with a full-sized USB port. Its integrated kickstand is sheer brilliance, sturdily designed and stylish, and the keyboard in Microsoft’s “smart” covers is the tablet keyboard you’ve dreamed of: versatile, lightweight, functional, and a true aid to productivity. The Type Cover has mechanical keys and a multitouch clickpad, and the Touch Cover comes in bright and cheerful colours as well as the more staid black.

4

iPad 3

The same size and shape as its predecessors, the hotly anticipated “new iPad” nevertheless has a lot of new and improved features.

The screen is still 9.7in (diagonally), but packs 2047×1536 pixels, or twice the resolution of the iPad 2, to dramatically improve the viewing experience.

Apple has integrated the same rear camera as the iPhone 4S, enabling it to take photos at 5 megapixels and record video at 1080p. Previous iPads have had 10-hour battery life and Apple has maintained that on the iPad 3, despite its high-resolution screen, quad-core processor, and 4G LTE connectivity. talkbusinessmagazine.co.uk 113

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10/07/2012 15:02

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29/06/2012 13:50

Focus on franchise

Franchise news Brits find master franchises at Venice forum

Franchising succeeds despite economic downturn

Britain’s franchisors were represented at the inaugural global master franchise forum, held by Franchise Pool International in Venice.

The forum aimed to introduce franchisors to European brokers and consultants, who could help with finding master franchises in their targeted countries.

The UK member of Franchise Pool is the International Franchising Centre, part of Britain’s largest franchise consultancy group.

‘Many are actively seeking growing overseas markets and this was reflected by the strong UK representation,’ said Farrah Rose, a director of the International Franchising Centre. ‘One UK franchisor has already found a European master franchisee as a result of attending, and there are more deals in the pipeline.

‘The success of this two-day meeting was due to the fact that it wasn’t a side show, but an independent event in its own right, entirely focused on matching franchisors with master franchisees across Europe.’

Franchising continues to outperform the economic downturn with turnover up by 8% to £13.4bn and nine out of ten units trading profitably, according to the British Franchise Association/NatWest 2012 survey.

The number of franchise brands increased to 929, while the number of franchise units grew by 4% to 40,100 employing a total of 594,000 people.

A majority of 90% of franchisees reported satisfactory relations with their franchisor, the highest recorded percentage for 10 years.

The mean turnover per unit increased by 4% to £349,000 and a larger proportion of units reached over £500,000.

Brian Smart, BFA directorgeneral, said: ‘The last few years have put crippling pressure on businesses, creating some of the toughest trading conditions that many have ever seen.

‘However, yet again we see the franchise sector proving

its value by generating new sustainable business start-ups, jobs and revenue for an economy that desperately needs them.’

Graham Jones, head of franchising at NatWest and RBS, said: ‘Expectations for growth are high in the sector, and we have invested in the largest specialised team of managers of any bank to ensure this growth happens.’

For more information, visit: www.thebfa.org

ChipsAway expands into Middle East ChipsAway, one of the world’s largest car repair networks, has announced its expansion into the Middle East.

The opening of a master franchise in Riyadh, Saudi Arabia, marks the next step for the British business, which currently has 300 franchisees in the UK as well as a growing network of international master franchisors.

Deputy chairman of ChipsAway, Lloyd Evans, said: ‘Proving resistant to global economic downturn, the Saudi Arabian economy has actually managed to maintain growth in difficult times.

‘Auto-sales are currently worth SR69.4bn and are expected to achieve growth of 30% by 2013, which provides some great opportunities for a business such as ChipsAway to thrive and grow.’

Heading up the master franchise in Saudi is Talal Obid Al Osaimi, who studied for his MBA in the UK at Bangor University.

Having run two repair centres in Riyadhin in addition to his own profitable construction business, ChipsAway is confident that Talal is well-placed to lead this new venture.

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05/07/2012 15:08

Focus on franchise SPOTLIGHT

The culture of every franchise is different, and every brand looks for a unique set of qualities in its franchisees. So it’s perhaps unsurprising that at énergie fitness for women, outgoing, sales-orientated franchisees come out on top; and can earn a substantial income in the process.

What sets énergie fitness for women apart?

Our clubs are unique actually, because they don’t look like fitness clubs. They’re very small, so they can start from 800 square feet, up to about 2,000 square feet. The other interesting fact about them is that most clubs don’t have any changing rooms or showers because most women just come along, work out and then leave.

Let’s talk wonga…

The entry-level cost, as an absolute minimum, will be about £12,500, so very low, but can go up to about £35,000 depending on the size of the club. That fee gives them all their training; every single thing they need to know to run their club. It doesn’t include the equipment, so they would need to lease the equipment.

But the equipment only costs £11,000 as well. There are two sets of training that we give.

One is the ability to run their business, but also, because it’s the fitness industry, you need to be qualified in fitness instruction: we provide that as well within the franchise fee.

training courses running every single month.

“There are training courses running every single month, for every single franchisee”

What’s the earning potential?

We have a franchisee who allows us to discuss his figures, and he will earn over £100,000 profit this year from his club.

But that is quite a big club; on average, profits are about £30,000 to £60,000.

What makes a great franchisee?

One of the most important aspects really is to be outgoing, to be able to do sales, because sale of memberships is the club’s key element of being successful. Other than that, just nice, honest, friendly people.

This month fitness club franchise énergie fitness for women takes centre stage. We find out from Chief Executive, Peter Croney, what makes a great franchisee

You can view the video of this interview, filmed by FranchiseSales.co.uk, on the Talk Business website.

Contact: www.effw.co.uk

UNDER THE SPOTLIGHT… énergie fitness for women

What kind of support do franchisees get?

Every step of the way to get into business is covered by us, so for instance we will even go and inspect and approve the premises. And then, once they’re in business, we provide a hotline for them, every single day. We have seminars every quarter for them, and they meet with other franchisees to discuss business. And there are

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05/07/2012 15:14

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edit2.indd 1

02/07/2012 16:33:48

Focus on franchise TAKE ONE FRANCHISEE

TAKE ONE FRANCHISEE:

ZIPYARD, ALTRINCHAM We get the lowdown from Richard McConnell on heading up England’s first clothing alterations franchise Richard McConnell opened his clothing alterations, repairs and tailoring franchise, The ZipYard, in Altrincham in September 2011.

Although well established in Ireland, Richard’s business is the first ZipYard centre in England.

“The reaction from customers is amazing.

They seem genuinely ecstatic that we are here”

What did you do before being a franchisee?

I was 24 years old and I wasn’t enjoying the groundhog-day feeling of working in an office. I craved a new environment and wanted to get out and meet people. I was looking for work when an advert for becoming a driving instructor in the local newspaper grabbed my attention.

I liked the flexibility that the job offered along with working my own hours and being my own boss.

What led you to make the switch from driving instructor to ZipYard franchisee?

My wife and I wanted to start a family, but my hours as a driving instructor were really

unsociable, mainly during evenings and weekends. We didn’t think this would fit in well with family life, so I started looking around at different opportunities. We had saved up a bit of money and thought that investing in a franchise was a less risky option.

We did lots of research in the franchise press and online, and looked into a wide variety of franchises.

Why ZipYard?

My wife noticed the ZipYard advert and she thought it was a fantastic idea. We did some research and quickly realised that there was no real competition in our area. Most of the time clothing repairs are done as a bolt-on service at dry cleaners. The turn around time isn’t very good, and they don’t offer a very wide range of services.

We went to meet Nigel Toplis, the franchisor, and we visited a centre in Wales. We were impressed by the professionalism of the franchise. The brand is very strong and the shop fit is amazing, from the fitting rooms to the equipment and layout. They really know what they are doing and can cater for every kind of alteration and repair on site.

So, how’s it all going?

It’s going brilliantly, and we are getting busier every week. In the first six weeks we saw our sales rise by 600%!

The reaction from customers is amazing. They seem genuinely ecstatic that we are here and their faces light up when they come into the centre.

They are delighted that we can breathe new life into clothes that they can’t wear or that are damaged in some way.

What does the future hold?

Once we’ve got this centre up and running to full capacity, we would love to open up a second one. Marie would also like to get more involved with the business once Darcey has grown up a bit.

Would you recommend ZipYard?

Absolutely, no doubt about it.

It is one of the most unique franchises available, with a professionalism and quality that just shines through.

Contact: www.thezipyard.com

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05/07/2012 15:24

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09/07/2012 16:01

Focus on franchise LEGAL AGREEMENTS

T

ypically, franchise agreements include extensive obligations on the part of the franchisee, and often the owners of the franchisee business. These obligations frequently regulate not only actions during the franchise agreement, but also for a period following its termination.

The courts’ approach

TAKE CARE… Jacques Smith, partner at Blandy & Blandy LLP Solicitors, takes us through the legal pitfalls that opened up for a franchisor in a recent High Court case, and the steps that can be taken to avoid them

If the obligations have the effect of restricting trade (such as preventing the franchisee from competing with the franchisor after termination of the franchise), the courts can refuse to enforce them.

Another aspect is that the courts look carefully at the precise terms of the franchise agreement to ensure that the franchisor is able to enforce its terms. Where an owner of the franchisee business is agreeing to back the franchisee’s obligations, this is similar to a personal guarantee and the court will, in general, require the franchisor to show that all formalities have been completed for a legally binding obligation to be created.

A recent franchising case has emphasised the extreme care that is required in the preparation and completion of franchise agreements.

The Dream Doors case

In this case, Dream Doors Limited was applying for an injunction against its former franchisee, Lodgeford Homes Limited, and a director of that company, Martin Lodge.

The franchise agreement contained a series of

obligations on the part of the franchisee, Lodgeford Homes Limited, and it also referred to a number of obligations being imposed on a “principal”.

Dream Doors said that it had meant to name Mr Lodge as the “principal” in the franchise agreement. It therefore asked the High Court to make an injunction against Mr Lodge personally, so that Mr Lodge could not compete against Dream Doors for a specified period following termination.

The problem Dream Doors ran into was that Mr Lodge was not named as a “principal” in the franchise agreement. Although Mr Lodge had signed the agreement, he said that he had signed in his capacity as director of the franchisee company, Lodgeford Homes Limited.

Mr Lodge said that he had not intended to sign the agreement as principal, and that he therefore had no personal liability, meaning that he could not be bound by the post termination non-compete clauses in the agreement.

The court took the view that there were two possible interpretations of the situation.

The first was that Mr Lodge had signed on behalf of Lodgeford Homes Ltd only (and not in his personal capacity as principal), and the other was that he had signed as principal only (and not on behalf of the company).

The court came to the conclusion that the only sensible interpretation was that Mr Lodge had signed on behalf of the company only. This meant that only the company was bound by its terms. This conclusion was based partly on evidence relating to the circumstances in which 

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05/07/2012 15:47

Franchise master 59555:Franchise master 59555

13/1/11

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Lloyds TSB can help you with your franchise plans.

Whether you’re buying into a franchise or franchising your own business, it’s important to have the right kind of support and guidance before you take the next step.

That’s why we have a team of specially trained franchise managers who have a wealth of knowledge, and can offer you practical support and guidance.

To find out more call:

0800 681 6078 lloydstsb.com/franchising

Calls may be monitored or recorded. Lloyds TSB Commercial is a trading name of Lloyds TSB Bank plc and Lloyds TSB Scotland plc and serves customers with an annual turnover of up to £15m.

Authorised and regulated by the Financial Services Authority under numbers 119278 and 191240 respectively.

Untitled-9 1

01/05/2012 14:17

Focus on franchise LEGAL AGREEMENTS

the agreement was prepared and signed.

The Court said that the other interpretation (i.e. that Mr Lodge’s signature was on behalf of himself as principal only) would have meant the agreement was legally unenforceable.

This was because, on this interpretation, Lodgeford Homes would not have been a party as franchisee, which was difficult given that Lodgeford had acted as franchisee under the franchise agreement for several years before its termination.

Lessons to take away

This case demonstrates the high degree of care that should be taken in both the preparation and signature of franchise agreements. Particularly where, as in the Dream Doors case, one party to the agreement, such as the franchisor, hopes to impose personal obligations and liabilities on an individual.

Post termination restrictions, such as non-compete clauses, are often seen by franchisors as a key tool for the protection of the franchisor’s business following termination of a franchise. However, these clauses are regarded by the courts as being contrary to public policy, since they have the effect of restricting trade.

Accordingly, a franchisor who wishes to enforce restrictions of this nature is required to demonstrate that they are reasonable as a protection of the franchisor’s legitimate business interests. In addition, the court will be particularly careful to scrutinise the agreement containing the restrictions.

creating and amending the franchise agreement.

If an individual franchisee is to sign the agreement as principal as well as director, this needs to be made clear both in the body of the agreement and the execution wording.

In the Dream Doors case, there was a central conflict between the parties as to whether it had ever been intended that Mr Lodge would act as principal under the agreement. One way to head off this sort of issue is for a note to be made on file summarising the key terms that have been agreed in principle, and which are to be included in the franchise agreement. Notes of this kind can then be produced later, as evidence of the parties’ intentions in the event of a dispute.

From the franchisee’s perspective, it is dangerous to assume that the restrictions set out in the franchise agreement

will not be enforced by the court.

The better approach is to assume that they will be enforceable, and to negotiate and agree with the franchisor specific terms that recognise and protect the franchisor’s business, while enabling the franchisee and its owners to trade in one form or another following termination of the franchise.

Finally, the franchisee should really obtain independent legal advice on the terms and effect of the agreement: it could save a lot of hassle in the long run.

Contact: www.blandy.co.uk

“It is dangerous to assume that the restrictions set out in the franchise agreement will not be enforced by the court”

“A recent franchising case has emphasised the extreme care that is required”

Avoiding these problems

It is of course prudent to have in place a rigorous system for managing the process of

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05/07/2012 15:48

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Your HR Partner is a unique HR Consultancy which works together with your business to address HR issues. Whether you need help in drawing up HR Policies or Contracts of Employment; dealing with poor performance; or making redundancies we will work together with you, understanding your business issues and finding solutions.

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Directory JULY 2012

Hampden provide a complete client focused IT solution tailored to your business. We provide a complete service that combines technical expertise with experience and knowledge for cost effective IT solutions.

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Directory JULY 2012

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T: 01508 494488 W: www.worldaddresses.com E: enquiries@worldaddresses.com

Company Name Here Tario in con re restem 24 Seven is a UKaboris based illat.

Telecommunications cuptat enlhimus Arum quae estrum Networkillitiure Operator, providing telecoms destiam coreped itatin corum idsolutions magnis for clients ranging from multi-nationals destiam illitiure coreped itatin corum id to magnis corporates, SME’s ent to resellers andquias local estem auria from eperferum moditesed enterprises to end-users. ipsumqu untiam di temporit face stiuhhggmqu.

T: 00000 08000 000000 247 247 T: W:xxxxxxxx@xxxxx.co.uk www.24seven.co.uk E: E: info@24seven.co.uk W: www.xxxxxxxxxx.co.uk

Tech IT Solutions is your single point of contact for all IT related services, in Devon and Cornwall. We have experience working for the private and public sector, manufacturing, media, finance and travel industry in the UK. With over 20 years experience in the corporate sector, we are well placed to look after your business. We offer a range of solutions from technical support to management outsourcing and now cloud service provisioning.

T: 0845 6804023 W: www.techitsolutions.co.uk E: karl@techitsolutions.co.uk

At Forge Dynamic, we understand the challenges that small and medium sized businesses face. This is why we aim to provide the highest quality service we can offer, while keeping costs as low as possible. We endeavour to offer flexibility in our working practises and to work closely with your business to develop solutions that suit you best. In addition, our partner network means we are able to offer additional services, creating an all round IT Support to your company.

E: info@forgedynamic.co.uk T: 0845 564 6883 W: www.forgedynamic.co.uk

Innovative and flexible Web and IT Development for SME’s in Buckinghamshire and surrounding counties. We provide you with a ‘one stop’ solution for all your technical requirements, whether Web Design, Hosting, IT support or solutions.

T: 01628 478 429 W: www.arisia.biz E: info@arisia.biz

Are you serious about Lead Generation?

We understand Direct Response Marketing.

We’ll design your website to produce a constant stream of enquiries. We’ll promote it to ensure a steady flow of visitors. We’ll measure the response so you’ll know it’s working. And we’re pretty good at advertising and design too!

T: 01732 460 052 W: www.agile-creative.co.uk E: talk@agile-creative.co.uk

It’s your brand. It’s your business. And with help from Avery, it’s your success. Avery have a product catalogue which includes laser and inkjet labels and cards, printer consumables, desktop accessories and filing products.

T: 0800 80 50 20 W: www.avery.co.uk

Avis long term car hire is a flexible alternative to car leasing or car pooling. Enjoy fixed daily price and your only commitment will be to hire a car for 28 days.

T: 0844 544 7733 W: www.avis.co.uk E: avisflex@avis.co.uk

DSIS is a computing and IT company specialising in ensuring the smooth and effective operation of all your computer equipment, programs and networks. We have decades of knowledge, from hardware replacement and data recovery through to hosting websites and dealing with email viruses.

T: 0141 4382030 W: www.dsis.co.uk

We at Soft-Teck cater to every needs of a Clients Requirement.

• Branding • Web Design • IT Services • Telecom Solutions • Graphics Design • Security Solutions • Company Formation T: 0203 488 4884 W: www.soft-teck.com E: sales@soft-teck.com

MONBRO specialise in assisting SME’s with all manner of creative New Media solutions from company websites, e-commerce, intranets and all types of online solutions to increase business efficiency and communication.

T: 0207 735 4892 W: www.monbro.com E: info@monbro.com

Cartridge World is the UK’s largest specialist provider of high quality printer cartridges.

Cartridge World offer massive savings on inkjet and laser toner cartridges without compromising on quality.

W: www.cartridgeworld.co.uk

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Directory JULY 2012

I.T.S Telecom Ltd is part of the I.T.S Group of companies, comprising of I.T.S Support Ltd, I.T.S Internet Solutions Ltd & I.T.S Telecom Ltd. We provide a comprehensive range of IT and communications solutions to the Corporate & Education sectors.

T: 0800 008 7009 W: www.its-telco.co.uk E: enquiries@its-telco.co.uk

The Sethi Partnership Solicitors has a dynamic team of highly experienced solicitors based in West London, who can provide individual clients and businesses with a full range of legal services delivered in an understanding, professional and cost effective manner.

T: 020 8866 6464 W: www.sethi.co.uk E: ritu@sethi.co.uk

KariaTec is a leading IT support companyhelping businesses focus on their‘business’ rather than worry about their ITsystems.With our innovative solutions, our clientshave been able to maintain maximum uptime.

T: 0203 137 6669 W: www.kariatec.com E: info@kariatec.com

DynaCom IT Support was established in 2003 to give a personal service to a high business standard, serving Essex, Suffolk, Hertfordshire and surrounding areas. We use a combination of remote and onsite support where appropriate – our aim is to resolve your issue in the shortest time with the least inconvenience to you. Remote and telephone support is great for monitoring and simple fixes, but we believe you can’t beat an engineer on your doorstep!

T: 01376 342787

In essence, BartaClub is a trading site.

Barta, for example: a hotel room, a cleaning service, photography for a special occasion – whatever services and products you offer – for services that you need today – for example, printers, accountants, car valeting, live entertainment ….

You sell at full price to our client base, and then you pick what other services you’d like to obtain from our network.

W: www.BartaClub.com

BCPA offers a comprehensive payroll service to meet the needs of voluntary/community groups and other organisations.

The service provides practical support, information and advice on any aspect of PAYE and other payroll related issues, taking on the administrative burden and freeing you to deliver your voluntary and community services..

T: 01274 787800 W: www.bradfordcpa.co.uk E: payroll@bradfordcpa.co.uk

Karbonite designs and develops professional and fun Bespoke Websites at great prices, ensuring you get great value for money.

Karbonite is based in Chelmsford, Essex and specialises in E-commerce, CMS and SEO. Our services range from personal ventures to professional business Web Design.

Bespoke static Web Design From £199 T: 01245 600 075 W: www.karbonite.co.uk E: info@karbonite.co.uk

Into Somerset is the inward investment organisation for Somerset. Its resourceful and independent team offers unbiased advice and support for businesses considering moving all or part of their business to somerset.

T: 0845 1222066 W: www.intosomerset.co.uk E: enquiries@intosomerset.co.uk

Over 5 years ago, we set out to build an independent energy brokers that focused on delivering quick, free, impartial advice to both small and large businesses, on what is the best gas and electricity deals available.

T: 0800 043 0423 W: www.utilityhelpline.co.uk E: mail@utilityhelpline.co.uk

We provide over 400,000 homes and small businesses throughout the UK with Home Phone, Mobiles, Broadband, Gas and Electricity. In a recent survey, 96% of our customers said they would recommend us to a friend.Where do you want to start saving?

Home Phone, Broadband, Mobile, Gas and Electricity.The more services you take, the more you save T: 0800 131 3000 W: www.utilitywarehouse.co.uk

For over 5 Years we have provide Small Businesses with affordable SEO services to promote themselves online. In this time we have gained the reputation of providing a high quality service and offering friendly and helpful advice in all apsects of online marketing for small businesses in the UK. T: 0800 611 8151 W: www.optimisemywebsite.co.uk

At ABN AMRO Commercial Finance, we know that life can be full of frustrations. But we can allow ourselves to smile at these once the big issues are dealt with – like funding your business’s growth.

T: 0800 515 053 W: www.abnamrocommercialfinance.co.uk E: enquiries@abnamrocommercialfinance.co.uk

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And finally...

THE DAILY GRIND

TB asks a well-known entrepreneur about their life, inspiration, and a few other things of no particular importance. This month, we’re up close and personal with Jamie Murray Wells

THE DAILY

GRIND Where in the world are you right now?

At the London offices of Glasses Direct, the top floor of an office block on Great Titchfield Street.

What gets you out of bed in the morning?

“I failed my driving theory test three times”

My pet monkey Kershaw poking me in the face, usually!

What do cereal (sic) entrepreneurs have for breakfast?

Occasionally Lucky Charms, but most of the time Banana Nut Crunch.

Who or what inspires you the most?

Sir Terry Leahy, Steve Jobs, and Jeff Bezos. Their belief in letting what customers want drive decision-making, their strong sense of humility, and their neverending questioning of the limits of possibility is truly motivational.

Where and when were you happiest?

I’m happiest in the garden of my local pub, The Cat and Custard Pot in Shipton Moyne, with a

pint of local ale on a summer Friday evening.

What single piece of technology could you not live without?

My JetLev (www.jetlev.com)

Gordon Gekko famously said: ‘lunch is for wimps’. Do you do lunch?

If you could have your time again, what would you do differently?

Started earlier while still at school, and thus been able to innovate on the web pre-2000 rather than 2004.

Can ‘anyone’ be a successful entrepreneur?

Then I’m a complete wimp.

If you’re the kind of person who doesn’t give up easily, then yes.

Choose three dinner guests (alive or dead)

How many entrepreneurs does it take to change a light bulb?

What has been your most effective business tactic?

What would you say is your most important skill?

Aged 11, what did you want to be when you grew up?

Do you have anything to declare?

Elvis Presley, Lady Thatcher, Ayrton Senna.

Not to rely on tactics, but instead on instinct.

A train driver. I still kind of want to be one actually.

None – the bank of LEDS are controlled by an app on their iPhone.

Being a very good listener and learner.

I failed my driving theory test three times.

What is your favourite smell (apart from crisp £20 notes)? £50 notes.

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Contura.indd 1

Timothy Travel.indd 1

08/03/2011 11:04

08/02/2012 10:13

The Small Business Specialist

“XLN works out as almost a third cheaper… so hundreds of pounds saved.”

Martin Denholm

Fusion Hair Design, Worthing Switched to XLN in 2010

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business services

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first 6 months then £11.99

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XLN line required Up to 17Mb speed

Business Gas & Electricity

save up to

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Card Processing Services

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Prices apply to new customers

Martin Denholm - talk business ad.indd 1

4/26/2012 3:46:55 PM