SME Assistance

Fixed price plans and business support with 
guaranteed results and no long term commitment

Have you got a Cashflow Forecast?

Why you should have a cashflow forecast
1. Avoid running out of cash and going bust!
2. Prepare for large cash out goings eg. VAT, rent, wages
3. Sets a target for sales
4. Avoids over trading
5. Helps grow the business faster in a controlled and sustainable way
6. Helps plan the cash gaps
7. Helps with budgeting and controls spending
8. Answers “What if . . .” questions – “what if I lease a van?”
9. Avoid putting more of your savings into the business
10. Helps get more external funds (Banks, Family, friends)
11. Gives a greater understanding of the business
12. Reduces sweat and worry – Peace of mind!”

If you don’t know your numbers, you don’t know your business.” Marcus Lemonis

If you haven’t got a Cashflow forecast and you want some help setting one up please get in touch. Call/what’s app 0759 0673704 or FB message

Pricing up your services

How do I price up my services?

Pricing up services is a lot more difficult to do that pricing up products. And neither are an exact science!

It needs to be approched from several different angles and and average taken – along with good old gut feeling (but be brave!)

First off work out how much you want to earn per year – how much do you need for a really comfortable life style. Divide that by 52 (weeks) then by the number of chargeable hours you want to work in a week. Then if you think you’ll only sell half that amount of time double the chargeable hourly rate you want. Keep KPIs on chargeable hours you could do in the week and also the actual hours you can charge for. The goal is to make them equal.

Next work out how long each service or project is going to take you, include time on the phone and on emails and maybe some time doing research. Your experience of running your business will help with this – some customers will be a dream others will be a pain! Use the figure from above to calaculate the cost in time.

– Try and find out what your competitors are charging.

– ask some current customers what they think of your pricing
You will find the prices you should charge somewhere in that mix!

Remember everyones buying decision is based on 80% emotion and 20% logic (price). Your marketing should reflect this and the better you address the emotional side of the purchase the smaller the logic plays a part in the decision so the more you can charge!

Features V Benefits

What’s the difference between Features and Benefits?

If you’re not careful in creating your marketing copy, you may inadvertently end up with features laden descriptions of your products or services. This can be unfortunate, in that most clients and customers will base buying decisions on the benefits they perceive the product or service to provide, not its features. Most of us have been well-trained in telling people what they’ll get when they buy a product/service…how ‘it’ works…not what it means to them to buy it…what ‘it’ will give them if they own ‘it.’

Think of the feature as the description and the benefit as the result. Then re- write your feature statements into benefit statements. You’ll save prospective buyers the trouble of trying to do it themselves…which they generally won’t.

Consider the following example pairings of feature and benefit statements:

Feature: We’re open until 10 every night.
Benefit: Because we’re open late every night, you can shop at your convenience and don’t have to take time off work

Feature: Our day care center provides age-appropriate stimulation
Benefit: Because your child will be stimulated using age-rated activities and certified daycare workers, their mental development will be accelerated. We care about your child’s progress.

Feature: We use only high quality woods and adhesives in building our furniture.
Benefit: Because we use only the best in making our custom furniture…your purchase will be a one-time, long-term investment that’ll outlast you.

Feature: Our bookstore features comfortable chairs throughout the store 
Benefit: Because we provide comfortable chairs throughout our bookstore, you can relax and read snippets before you buy the book. Know what you’re buying and you’ll enjoy your investment that much more.

Feature: I have over 20 years experience selling houses in the neighbourhood 
Benefit: Because I have over 20 years experience selling homes in your neighbourhood, your house will be sold quickly, for the highest amount possible, letting you focus on other important things. Let me take the stress out of selling your home.

If you don’t believe in the power of ‘benefit-selling,” re-read the five feature statements above; then compare them to the five benefit statements. Which one in each case stirred or compelled you more?

10 Tips to make running your business easier and more profitable

In my travels around businesses in Dorset I sometimes find there are small changes business owners can make that can make a big improvement in the way their business runs and the profits they make. I thought I’d share a small section of them with you . . . . .  

  1. Know where you are going
    Do you get in your car with out thinking how you are going to get to your destination? What’s your destination, how are you going to get there and when?
  2. Invest your time wisely
    If you need more money you can borrow some but you can’t borrow more time, there is a finite amount every day. Is that meeting, that job going to move your business forward?
  3. Know your Numbers
    As you sit there reading this do you know how much your business is owed? How much it owes? How much you banked this week? Are these numbers going up or down? Knowing your numbers is the blood of the business – is your business loosing blood?
  4. Systemise the routine – humanise the exceptions
    Systems should run your business so that you don’t have to. Leverage your time by systemising / documenting the routine tasks in your business the best ways to do them. What can you systemise in your business now to save you time in the future?
  5. Take the pulse of your business with KPIs
    How many enquiries a week? How many sales or quotes a week? Just by measuring these tell-tale signs in your business they will improve. How fast is your business pumping?
  6. Make a plan to grow your business 
    A business that isn’t planning to grow will slip back because your competitors are planning to grow – how are they going to do that? By taking your market share! Make your business pump faster. How much market share can you afford to lose?
  7. Eat that Frog
    Unpleasant/difficult task can over shadow the day and often don’t get done and then get shovelled into the next day. Just do them first or better still as they arise. What did you put off ‘till today?
  8. Listen
    Listen to your customers, listen to your suppliers, listen to your competitors. Knowing what the trends are in your sector will save time and money and keep you ahead of the game.  What are they saying, what are they thinking, what can you do about it?
  9. Look after your team
    Engaged and committed staff will look after your customers, who in turn will look after your business with more orders and referrals and then the business will look after you with more profits! Will your team go that extra mile for a customer?
  10. Make time to work ON your business.
    This is taking actions on your business that will have a long term benefit. What are you going to do in your business today that you will thank yourself for in the future?

Bonus 11th Tip!!!
If you don’t know the answers to any of the questions posed above or your answers need improving – get in touch with me – I can help you find the answers