Advent calendar - 25 tips for your small business

The First of December has arrived! Children around the world are excitedly opening the first door on their advent calendar. If you are a small business, Christmas can be an exceptionally busy time. 

Don’t despair as help is at hand with our Advent Calendar – 25 tips for your small business. 

Thanks to a wide range of digital and virtual innovations, it is now easier than ever for a small business to get off the ground. However, getting started can often be the easy bit – it is staying around and growing your business that can be the real challenge.

According to TV Dragon Theo Paphitis, 50% of all small businesses fail in the first two years.

The question is - how can your startup avoid becoming just another failed enterprise?

Take a look at our selection of useful tips on a range of issues facing small businesses, which should help your company establish some strong roots.

1. Do your homework.

 This is another tip from hugely successful entrepreneur Theo Paphitis, who said recently in The Guardian: "The reason people fail is because they don't do their homework."

2. Get ahead of your competitors.

 You not only need to know your industry, you also need to know your competitors. Knowledge is power in business, so put in the research to get ahead.

3. Network, network, network.

 As we said in an earlier blog, networking can be a great way to get a small business off the ground. Moving into a shared office at a co-working centre is a fantastic way to network and meet potential employees and even clients.

4. Define your brand.

 Right at the very start, you need to establish what your business is all about, it’s ethos as well as what it sells.

5. Keep your goals realistic.

 Take it one step at a time – don’t stretch yourself too thinly.

6. Perfect your online presence.

 A working website, and perhaps one that is optimised for mobile devices, is a business essential that you need to prioritise right from the start.

 7. Identify who’s doing what.

 One of the best tips for avoiding chaos in the office is to ensure that everyone has clearly defined responsibilities, avoiding overlaps (unless needed) and gaps.

8. Move on from a home office.

 Home offices might be super convenient but they can be limiting. Think about setting up in a shared office, such as Carrwood Park, would bring that extra touch of professionalism to your business.  

9. Don’t trap yourself in expensive contracts. 

 By the same token, at this stage, you need flexible solutions for office space. What you don’t need is a five-year contract that you’re trapped in - a serviced office on a 12-month contract would be a far better solution.

10. Choose the right location for office space.

Convenience is key when selecting office space, for both employees and clients. Choosing a convenient location, such as outside a key city will enable you to meet clients and colleagues with greater ease. Renting office space at Carrwood Park, for example, which is just outside of Leeds will be you could meet key individuals that will help drive your business forward with ease.

11. Plan your space.

It’s not Feng Shui, it’s organising your office for maximum efficiency. Even better, choose a serviced office where the layout is already planned out and ready to use

12. Be professional.

You can run your business from home, but not having a receptionist, office space or a meeting room will not impress clients. If you don’t want to commit to leasing space, a serviced office offers the best of both worlds.

13. Be ready for growth.

 You don’t want to expand too fast, spending a fortune on leasing office space, but you should be ready for growth. For example, choose a serviced office with larger space you could ‘upgrade’ to if necessary.

14. Be credible.

To win new customers without an established brand, you’ll need credibility. Virtual offices give you a professional business address and phone number, giving your clients’ peace of mind.

15. Keep records.

For tax purposes and for a hundred other reasons – be meticulous about keeping accurate records.

16. Prioritise business planning.

 Don’t simply react to new changes and challenges; plan ahead to predict, grow and achieve goals within your business.

17. Watch the everyday expenses.

 Keep a close eye on the costs of everything from stationary to printing – at this stage, every penny counts.

18. Embrace new technology, but not just for the sake of it.

 Only invest in new technology if it will actually help to move your business forward.

19. Adapt and evolve.

According to Katherine James, the head of small business at Danske Bank: “The businesses which will thrive and grow will be the ones which keep pace with change and adapt to new market places.”

20. Delegate and outsource.

 If it saves you valuable time in your working day, it can be worth investing in virtual office and reception answering solutions

21. Be a stickler for regulations.

Without the proper regard for health and safety, fire safety and employment law, a small business can soon land itself in hot water.

22. Make use of free marketing tools.

Social media is a prime example – did you know that 80% of consumers would be more inclined to buy from a company that has a social media presence?

23. Listen to your clients and customers.

Use their feedback to shape the future of the business.

24. Track and celebrate success.

It’ll keep your employees motivated and push the business forward.

25. Learn from failures.

As well as tracking success, learn valuable lessons from failures.

If you have a small business and you’re looking for professional serviced office space in a highly convenient location, get in touch with Carrwood Park Leeds to discuss your needs. We look forward to hearing from you.