Running a business isn’t always easy. We know, we’ve been there. To try and ease the way a little for our customers, at the beginning of August we launched a new Instagram series, SimplySunday. The idea being that we could put together soundbites of top business tips from industry experts in simple, bite-sized chunks. The series started with advice from our very own CEO, Kent Vorland, and our Chairman, Gary Prince.
In case you missed it, here’s a round up of what we’ve covered so far.
SimplyPayMe’s SimplySunday Business Tips so Far – All in One Place
Gary Prince, Chairman at SimplyPayMe
It’s all too easy in life to focus on the negatives. Things can be going really well. Your ROI is up. Your targets are in sight. And you’re getting praise from all quarters. But. You’ve got a couple of niggles. A few pieces of negativity have found their way through. And it doesn’t matter that they’re in the minority, you focus on them and a downward spiral begins.
Once you start doubting yourself it’s a race to the bottom.
I’ve learnt over the years that a certain type of person will always try to knock you down. Rather than give in to the negativity, I use it as a driving force to prove those people wrong.
In business and in life, negativity is prevalent. But it’s positivity and confidence that will help you find success.
You’re doing what you do for a reason and you’re good at it. Believe that and be successful.
Erald Krasniqi, CEO of Scroll Digital
Take control of your business processes
Don’t forget the boring bits
Starting a business is exciting. But although it’s tempting to do so, if you overlook the boring bits – the day to day processes – it will really slow you down. Because at its core, a productive business is just a series of well-planned processes.
A ‘business process’ is essentially a set of instructions that help reach a particular end. And they’re necessary because although things may seem obvious to you, the only way your business is going to grow is if everyone in your team is on the same page and knows what is expected of them.
So, take time to record what needs to be done, and how you expect it to be achieved. And make the document available to everyone.
Eventually you’ll get to a stage where you have such efficient processes that you won’t need to worry about certain parts of your business anymore. And that’s because you put in the effort now.
Cristina Sturza: Business Development Director, SEOmonitor.com
Learn to listen
Reading a room and the people in it
My job is to close deals. To do that, I deal with people. All kinds of people from all kinds of sectors. But it doesn’t matter who I’m dealing with, my number one rule is to listen.
When I go into a meeting, I remind myself of the 80-20 principle:
- 80% of the time you should be listening, understanding pain points, and working out where you can fill in the gaps and build a relationship
- 20% talking, presenting the product
And this is as relevant to a Zoom meeting as it is to addressing a conference hall full of people. If you want to manage humans, you need to learn to read a room. And you can only do that through listening.
Kieran King: Chief Operations Officer, 360 Equity
Corporate financial and legal literacy
Businesses can vary across different sectors. Industries can be wildly different from one another. But every business in the world can be actualised through these two areas.
As a business owner, you will significantly benefit from developing a clear understanding of these areas.
Financial – Understand your business’ numbers: cash flow, balance sheet and P&L.
Legal – It’s really important that you understand your company’s legal set up. Shareholder agreements, articles of association, employer obligations. This isn’t just integral to staying on the right side of law, but doing the best for your business and protecting your assets further down the line.
Kent Vorland, CEO of SimplyPayMe
Don’t forget to disconnect
Your business is your passion, you’re used to being always on, answering emails, strategising, taking calls at all hours. But it’s OK to switch off. In fact it’s more than OK, it’s necessary to be at your best.
You’re only human and you can only do so much.
Taking a break out of your day/week/month, just having time to think about something else, gives your brain a chance to recharge.
I like to watch the sunset. You might prefer to do something else. But the goal is to find something that makes you feel relaxed and tranquil.
Try it and see how it improves your business and your life.
So, these are the first five SimplySunday tips. If you like what you’ve read and want to learn more, don’t forget to check out our Instagram page every Sunday.