Growing Your Business

Growing Your Business

Taking your business to the next level is a well used phrase but strategies need to be put in place to allow this to happen. Here we present the necessary elements to build a successful growth strategy.

YBC Academy : Disability Awareness

Give me five! …. 5 reasons why disability awareness will improve your business

Embracing disability awareness can positively impact the development of an SME in many ways – here are 5 reasons why disability awareness improves business…

1. Expanding your market
It may shock you to learn, that ignoring the needs of people with disabilities as a potential customer base, costs UK businesses around £1.8 billion per month. This is largely due to a lack of awareness and can be changed by making a few minor adjustments to the way your business operates. By understanding and removing your organisation’s barriers, implementing staff training, and making a few physical and technological adjustments- your business will certainly begin to appeal to those spending the purple pound.

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YBC Academy : Domain Names – The Crucial Company Asset

Alarmingly we still hear of companies being held hostage by their current online/ web or marketing agency when it comes to domain names.

Regularly we hear of domains being registered in the outsourced developers’ name or business, all account details only known by one employee or these details being only stored in a single word file on a company laptop – passwords and all!

Domain names are a vital asset for a company and great care needs to be taken to ensure you get the right ones and that you don’t lose your intellectual property (IP).
Recently there was a case of a company so nearly losing two of their domains but also didn’t realise there was a .com version available as well.

The situation wasn’t looking too clever:
– One domain was being held by a squatter
– One domain (the main one they were using) was registered to, and held by, their old web developer
– One domain was currently in ‘Expired’ mode and could have been lost within days

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YBC Academy : Do You Trade On Price Or Value?

The Value Proposition
Do you trade on price or on Value?

I have often been described as the consummate networker. Over the years I have connected with hundreds, no thousands of business owners and I find that a very large percentage of them share a common flaw: They do not understand the difference between trading on price and trading on value.

I want to explain the difference and explain how I charged over £11,000 to produce 5 x 3-page documents resulting in my client warmly thanking me and shaking my hand, exclaiming that he could not thank me enough.

When you trade on price you make yourself a commodity and if you are always trading on price, there will always be somebody who is prepared to do it cheaper. There comes a point where the price becomes so cheap you might as well cease trading. There are very few businesses that are successful trading on price (I suppose the £1 Shop is the exception).

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YBC Academy : How To Handle Price Negotiations

THE 3 KEY STAGES – HOW TO HANDLE PRICE NEGOTIATIONS

Has a prospective customer of your services ever said to you:-
“Your price is too high or can you do me a better price”?
Giving a discount in the right way, may well be the most appropriate thing to do.
Conversely, giving a discount in the wrong way, can not only lose you a sale, you could also potentially lose all possible future sales.
If you said “yes” and immediately give a discount, what do you think that person would now be thinking?
1. That you seem desperate for the sale!!
2. How much further would they/you have lowered the price or worse, maybe they should have asked you for an even bigger discount.
3. The price they/you originally offered was not the real price. Are they/you tryingto trick them? Can they really trust you?
4. If I come and buy from you next time,I’ll ask for an even bigger discount.

The problem here is that you’re not setting a very high ‘value’ for your services if you are prepared to discount so quickly, in effect you’re agreeing that your price is too high!! Another thing to consider, is that you have given something away without asking for anything in return. You’ve just created a win/lose situation.

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YBC Academy : How To Reduce Your Business Tax Bill

Seeing your first pennies roll in as a business owner is a rewarding and exciting time. You finally get to eat the fruits of your labour and yep, they taste good.
However, once your tax bill comes in you soon realise all that gorgeous profit could be eaten up and the business will have nothing to show for that big outlay you just made.
It is also important to keep in mind that, although dedicating a large proportion of your profit to fill your pockets may give short term gratification, you could ultimately be doing your business more harm than good.
Yes, you do need to put food on your plate, but, look at where that money is coming from, and, more importantly, where it’s going to.

Business owners are often advised to look at reinvesting as much of that potential payment to HMRC as possible back into the company so here are a few reasons why wisely reinvesting money back into your business is the key to growth and success this year and can save on your tax bill.

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YBC Academy : Sales

5 REASONS WHY ‘PERSUADING’ PREVENTS SALES

Do you think selling is all about persuading and convincing?
Are you trying hard to get people to agree with what you tell them? If that is the essence of your sales approach, it will lose you sales. Here are five reasons why.

Reason #1: You will resist selling.
If you think selling is all about persuading and convincing, you’ll simply resist actively selling as you probably don’t enjoy the experience of having to get people to agree with you.
Doing that is difficult and can feel like fighting. You may also be concerned about what people will think of you. As a result, selling will be something you do rather reluctantly, and really wish you didn’t have to do at all.
If you resist selling, you are not going to be selling as often as you need to. Consequently, the less time you spend selling, the less sales you will make – plain and simple.

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YBC Academy : Sales Strategy

WHAT IS AND WHY DO I NEED A SALES STRATEGY
It’s surprising how many people in business simply do not have a clearly defined and written strategy for how they gain new and repeat sales of the products or services that they sell.
In the boom years businesses could just about get away with this because there was so much business sloshing around that few people really had to work very hard to make a reasonable living.
But the world is a very different place since the pandemic and it’s unlikely to ever return to a less competitive environment which is why now more than ever, it’s absolutely imperative that you have a solid bullet proof plan of action to magnetise customers to you instead of your competition.

To begin we must start by better understanding what the main challenge is, before we can focus on developing a solution of building a sales strategy that works.

Noise, (competition and speed of life)
You are someone’s customer aren’t you? Think about your average working day and what runs through ‘your’ mind from the moment you wake up until your head goes back on the pillow…
Family, food, car, journey, office, e-mail, STUFF, phone calls, more STUFF, car, journey, gym, home, family, food, chores, TV, Bed……
You me and everyone have so much noise and ‘stuff’ going on in our lives each and every day that when it comes to buying stuff or services, all we want is someone who will make the buying process easy by giving us what we want at a good price and who will do what they say they will before we agreed to buy… Don’t we?
OK so if that is all we want, then clearly, this must be what everyone wants right?
You bet!!

Yet you know as well as I that despite every single company out there advocating ‘we promise great service at a great price’ very few actually deliver, so how are you at delivering the dream? Are you really any different?
This is where you have to have, a sales strategy that really is different to all of your competitors, one that starts differently, runs differently and does something they (your prospective customer) expects but is unsure they will receive … you’re going to have to ‘really’ deliver!, so that your customers can see, feel the difference that will have them become a raving fan and incredible referrer to other people.

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