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43 amazing Inspiring quotes for business owners

2020-02-01T15:58:30+00:00 June 9th, 2019|Categories: Entrepreneur, startupgold, TheStartUpGold|Tags: , , , , , |

Running a business can be a true test of personality, strength and courage. In between the overwhelm, a good quote can be your source of encouragement. From art, to religion, music, politics, business and every walk of life in between, quotes have inspired people through challenging times.

"Nothing is impossible, even the word itself says I'm possible."

During periods of self doubt or experiencing a challenge in your business, this is a quote that reminds you not to give up. Keep this in mind as you find methods to overcome the obstacles in your way.

Stephen Covey will be remembered most as the author of The Seven Habits of Highly Effective People, which has sold over 25 million copies. Rather than being a victim of your circumstance, accept that life happens but the ultimate goal is where you are headed. Make a choice to avoid blaming your circumstance and take a stand on making decisions to get you to your ultimate goal.

When one door of happiness closes, another open, but often we look so long at the closed door that we do not see the one that has opened for us - Helen Keller

Love, Love this one by Helen Keller. Helen was a political activist and author who was the first deaf, blind person to achieve a bachelors degree in Art. How amazing is that? she could have looked at her obstacles as closed doors but she accepted and used them as a platform to become a world famous advocate for people with disabilities.

"Build your dreams or someone will hire you to build theirs" - Farrah Gray

So harsh but so true. If you have an innate desire to create something, to bring an idea to life, do not let your fears or circumstances stop you. Go for it.

Ideas without execution have no value. We must apply our knowledge, and act on what we are willing to do for the dream to materialise.

"Everything you've ever wanted is on the other side of fear - George Addair

No further words needed on this quote by George Addair. As you start a new week, remember that fear is the greatest thief of your blessings. Be bold to do that thing that scares you and start making the moves to achieve your dreams.

It does not end here, we have 37 more quotes for your mantra list and they are oh so good. Daily inspirations remind you that you are not alone. Write them and pin up in prominent spaces in your environment such as your fridge, desktop, somewhere you will be sure to see them every day. Share them with friends, family any co-workers and let it frame your conversations.

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The Boss Lady recipe for building a thriving business

2020-02-01T15:55:46+00:00 June 1st, 2019|Categories: Entrepreneur, startupgold, TheStartUpGold|Tags: , , , , , , , , , , , , , |

Boss Lady – Two words that define the successful savvy female leader. In business, a boss lady executes and delivers big ideas. This trending breed of entrepreneurs are your go to kind of people to get things done. Confident, knows her value, quick to learn and adapt, does what she says she would are only a few qualities of a boss lady.

Making your mark as an aspiring female entrepreneur in a growing world of business can be daunting. With lots of things to consider as you start your business, staying true to the things that matter can be a challenge. Here is a recipe you can live by to remain focused as you work your way to building a successful business.

#1 Work on building a business you can take to the bank

Herein these eleven words lies a tonne of effort that justifies the reason your business exists. Unless your goal is to run a non-profit business, you need a way to monetise whatever it is your business is about. Say for instance, you have a huge social media following but not converting this to sales of some type either through paid ads, affiliate marketing or promoting a paid service or product you aren’t quite scratching that boss lady surface yet. Think of ways to monetise your skills, talents or ability to solve a problem.

“Sales are incredibly important because that’s what really makes or breaks a business“

Ade HASSAN
FOUnDER NUBIAN SKIN

#2 Find and know your ideal customer

Marketing your service or product to everyone, promoting your content without knowing who your target audience is like playing a game of tag with blinders on. You are feeling around hoping to catch someone with no clear direction of where everyone is. When you know who your ideal audience and customer is, then you can start to create content or products that delight them. You keep their attention focused on what you can do for them. This is a great way to build loyalty and a way to grow your business.

#3 Confidence, Optimism and Resilience

Wear it, feel it, own it…. there is just no other way to it. If you are not confident of your ability to deliver why should others be? If you are scared to market your business and sell, do not sell yet. Go back to learning more about your offering, fix any gaps before going back into the market. When you can stand 100% by what you offer you will feel more confident of your ability to deliver.

Optimism will get you through tough times that will come. Maintaining a positive mindset that your business will thrive regardless of internal or external challenges is a must have for you as a business leader.

Below is a video from Refinery29 I quite enjoyed on 5 women entrepreneurs who share their secret to success.

The saying that tough times don’t last but tough people do, couldn’t be more true. A mix of confidence, optimism and resilience will keep you on top where other business leaders have failed.

#4 A daily routine

Many successful entrepreneurs practice a daily routine. It does not necessarily have to be a series of back to back activities but something you live by to improve yourself and ability daily. It is best not to copy someone else’s routine but find one that is meaningful and works for you so you can sustain it.

#5 A support network

No-one builds a business alone. A support network in the people around you within and outside your business circle can be one of the most powerful tools for your business growth. Most women juggle a number of hats in between work and life. A support network can be a good outlet to help find a balance. The online world has a growing community of support networks for busy women in business, one of which is our facebook group at The Startup Gold

#6 Good business and finance acumen

We’ve discussed the idea of building a business you can take to the bank and targeting your ideal customer. There are other skills essential to running a successful business. You do not have to be an expert in all and can hire the support you need. There are however areas you need to be comfortable with. Some of which include understanding business contracts, cash flow management, marketing, leadership, presentation and communication skills.

#7 Self love and care

I use almost every opportunity I get to remind entrepreneurs of the need to properly manage their health and well being. Why is this important? The mind is a space where the entrepreneur works a lot. Out of it will flow ideas for project plans, creativity and decision making. Keeping the mind flourishing requires self care. Resting regularly, exercise and a good diet are all part of this. A lot of people take this for granted and almost always at some point will reach their breaking point. For a business to thrive it needs a leader that is constant in her ability to work and deliver. Maintaining proper care for health and well being is essential.

Hope you enjoyed reading and will try some if not all of these. Can you add anything else to spice up the recipe? Share them in the comments.

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3 easy ways to use more technology in your business

2020-02-01T15:48:29+00:00 May 20th, 2019|Categories: Entrepreneur, startupgold, TheStartUpGold|Tags: , , , , , , , , , , , , |

Let’s face it. In 2019, if you are not riding the wave of technology, chances are your business is missing out on a world of opportunity. From sales through to operations, technology is simplifying traditional ways of working and improving efficiency. Interestingly it is still not a favourite topic for a lot of female entrepreneurs.  

An investment in technology can make all the difference in your business. I am not just talking Facebook and Instagram. Today, ease of use and flexibility for small business are key focus areas for tech providers when building their products. So we have less excuses not to embrace tech and many more reasons to love it.

Companies that use technology for competitive advantage will win in today’s fast-paced business environment

The next cohort of The Business Builders LAB starts March 2nd.

Enrollment now open for businesses that need the skills to build confidence and attract their ideal customer, convert them to fee paying clients and build customer loyalty.

Click to visit the builders page below and get more information.

LEARN MORE ABOUT THE LAB

If you like what you hear about technology but not sure how to get more of it in your business, here are some ideas.

#1 Hire a tech savvy person on your team.

You don’t have to go with a full time person if you’re just starting up. You can hire a freelancer on sites like Upwork, Fiverr or Freelancer. A part time virtual assistant with a tech background will do for a start. Task them with researching what tools are in the market and how your competitors are using them. If you like the results the tools can provide, make the investment and get your techie to integrate it into your business. With so much competition in the tech market, you can get tools at competitive prices, a lot of providers also offer flexible payment plans.

#2 Always default to automation first

Automation can save you a  lot of time and money. The golden rule is as long as it is a repetitive task, it can be automated, you don’t need to hire a dedicated person for the job. Today there are easy to use tools that automate almost every part of the business process. Marketing funnels, scheduled advertising, email, messaging, billing and payments automation, there are lots of options to choose from. So think of your end to end business process and and research the areas you can automate. The first thing you and your team should consider when you start a new project is how you can automate.

#3 Attend conferences and exhibitions.

One of the best ways to adopt the newest and brightest tech trends in your business is to attend industry events . You will find enthusiatic exhibitors keen to tell you about their products and how they can help your business grow. You also gain insight from other business owners in your niche who can share what works for them.

If you are thinking, “well my business runs as a service which I deliver myself, I don’t need technology”. As a business owner you should continuously think of how to grow and technology can help you do that. Think of how many more customers you can reach if you are advertising your services online and building an email list of clients interested in your services. Today the world is digital and there are so many tech tools that will help you achieve better results faster.

Smart entrepreneurs keep up with the times and use what works to serve their market. Technology works

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5 things to do when bootstrapping your Startup

2020-02-01T15:46:08+00:00 April 30th, 2019|Categories: Entrepreneur, startupgold, TheStartUpGold|Tags: , , , , , , , , |

Pitch decks, Venture Capitalists, Angel Investors are almost synonymous with Startups today. Now these are great ways to get funds but when you are starting your business, you probably do not need half a million pounds right away to grow. You may find that through self funding you can raise a good portion of the money you need to setup and get your first clients through the door.

Bootstrapping a startup business is the concept of using existing resources, what is already have in hand, to achieve a goal.

Is it easy? no it is not, particularly if you don’t have a regular source of income.

A lot of new business owners are already rockstars at doing the most with minimal resources (hands up mums in the house) The same applies when starting up your business. Don’t go pitching to investors just yet or procrastinate on starting your business because you have written up a startup valuation that seems out of reach.

Try these bootstrapping tips first.

Cut back on splurging

I guess this goes without saying. If you need the money then cut back on spend. That Fendi Baguette, or pair of Balmain boots will have to wait.

Build a business portfolio you can take to the bank first then you can splurge on luxuries later.

As you start to build the business keep an eye on expenses.

Surround yourself with inspiring and driven people

Ever felt like you needed some shopping therapy and then your girlfriend comes round to remind you – You Only Live Once? So you hit the stores and head into Soho for dinner, willing your savings goal to come back. Sadly a vision of Shrimp and Lobster with spicy lemon dressing for dinner at Nobu’s wins.

Ditch your goal-less friends while you bootstrap to grow your business. Find yourself some new friends that will keep you motivated.

Always go for the Best and Final Offer

Corporate giants do this stuff all the time.

When making a purchase to start your business, ask the seller for their best and final offer before placing an order. Do the same with other sellers then go for the most competitive price.

In other words, haggle like your life depends on it (professionally of course) If procurement teams at large corporates do this to save business costs, how much more your humble self? There is no shame in negotiating. Make your money work for you as you build your business.

One thing to be mindful of though is not to compromise quality for cost. Verify the quality of what the seller is offering before committing to the sale.

Use your vision board

Have a vision of what you want to achieve. If you don’t have a board that’s pinned up on your wall, keep a mental visual of what success feels like. Use this as your motivation when you feel like giving up.

Keep your big vision in mind. Fix your eyes on the prize – Always.

Get some assistance

Perhaps bank of mum and dad might be generous, or you have friends who believe in your idea and can support. Crowdfunding might be another way to go. Think of some alternative sources of raising money and use as many channels as you have available to you within your inner circle to secure your business funds.

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Business Feature – Ade Hassan of Nubian Skin

2020-02-01T15:17:52+00:00 March 7th, 2019|Categories: Entrepreneur, startupgold, TheStartUpGold|Tags: , , , , , , , , , |

I am not entirely sure where to start with this post.

I could start by describing the excitement when  I finally bought hosiery in my skin tone. I could start by describing how inspiring it is seeing a woman of colour redefine the marketplace in an industry. Maybe I should begin by describing the thrill when I learnt Ade was going to share some business insights with me…. I was so chuffed.

I’ll just get right to it.

Ade Hassan, a member of the order of the British Empire, Fashion Entrepreneur of the year and UKs favourite British designer of the year award winner is the founder at Nubian Skin, a company with a carefully edited collection of Lingerie and hosiery providing the essential underwear needs of women of colour. Available at Nordstrom, House of Fraser, Bravissimo and other big brand stockists in the UK and Internationally. Nubian Skin has gone from strength to strength since it officially launched in 2014 and has received interest from celebrities like Beyonce, Thandie Newton and Beverly Knight.

On her immediate thoughts when her first photoshoot for Nubian Skin went viral – “I was shocked. I didn’t fully understand how it all worked because I wasn’t big on social media. At the time, Nubian Skin had a Tumblr and an Instagram page that had about fifty followers from random images. It was our first product photo. I didn’t think anything of putting up the image of the four girls wearing our product. I actually went on holiday directly after but my phone kept buzzing. I was shocked and amazed just to get one hundred followers. By the end of the week, we had a thousand followers. I started to feel anxious because I didn’t really understand what was happening. At the end of four weeks, we reached twenty thousand followers and the press started picking it up. Kerry Washington retweeted a post that Self Magazine had done on us and we were on DailyMail. And, all of a sudden, it was everywhere. And it was insane because we didn’t have products to sell yet. We didn’t even have a proper website up”

“My name is Ade Hassan and I’m the founder of Nubian Skin. I was born in the UK, but my family is Nigerian.  I grew up all over the world, in the UK, Nigeria, Saudi Arabia and the US. After I finished my masters I ended up in Banking, which was something I had been interested in doing, but ultimately, I knew that I wanted to be an entrepreneur.  Both my parents are entrepreneurs, so I guess it’s in my blood. I didn’t know exactly what I wanted to do, but I’ve always had an affinity for fashion”

TSG: When you founded Nubian Skin, you were addressing a gap in the market for women of colour. How did you get past any reservations or concerns you had as to whether your idea would become successful? What sort of research did you do and what support did you have?

Ade: I did a lot of research and discovered that what I was looking for simply wasn’t available. This was a great starting point that validated my idea. After that I did a lot of testing and research amongst my friends and family. I also did a lot of research at make up counters that catered to women of colour to find out the most popular hues. Once I had that information, it was a huge process of refining these colours with the factories.  I had no idea how to find a manufacturer or how to break into the industry, so I hired a consultant who introduced me to tradeshows which was incredibly helpful.

TSG: What are the key areas you focus on in your business, in other words when you review your business metrics what areas are you concentrating on first before others?

Ade: Sales are incredibly important because that’s what really makes or breaks a business. We also take a look at our social media metrics, customer data and google analytics to get an idea of who our customers are, their behaviour and location etc. Another important area of focus is cost – it’s important to repeatedly analyse what you are paying for/whether it’s necessary/where it’s possible to reduce cost, because if there is a problem, you want to fix it immediately.

TSG: During your TEDx talk on “The reality of reaching your goal” you mentioned bored, frustrated and annoyed as really good motivators when you’re trying to figure out what to do next, a lot of women can relate to this, the question is when they figure out what to solve for, what do they do next?

Ade: For me it was figuring out what my end goal was (launching my e-commerce website) and then plotting backwards to where I was and figuring out every single step that was needed to get me to my goal.  Then it was a matter of putting one foot in front of another one step at a time.

TSG: You’ve talked about switching jobs when you figured out your business idea and moving into equity finance in the corporate world because you needed to save a lot of money. In a time where women aren’t getting a lot from venture capitalists, is bootstrapping the way to go and a more effective option for female entrepreneurs?

Ade: I moved from consulting into working for a private equity placement agent, which I really enjoyed and it enabled me to save a good amount. Bootstrapping worked for me, but it has its pros and cons.  I do think fundraising is also a very good option, and I think it’s important for women to keep seeking finance from angels and ventures because there are so many amazing ideas out there that are deserving of finance.

TSG: Obtaining Trademarks and Copyrights are essential to protecting your brand , in your experience at what point will you advise entrepreneurs to consider this and make it a top priority above everything else they must execute to scale their business?

Ade: It’s one of the first things you should do!

TSG: On manufacturing and bringing your product to life what advise will you give entrepreneurs when sourcing manufacturers and vendors for a product?

Ade: Figure out what is going to work for you.Do you need to do a smaller production run (which will be more expensive) or are you producing large quantities (which may be cheaper)? Find a vendor or manufacturer who you have good communication with because communication is key.  Finally, do your research, visit the factory to make sure it’s being produced in an ethical way.

 TSG: Nubian Skin is stocked in Europe, Africa, the US and Caribbean, what challenges have you had operating in International markets and how have you overcome them?

Ade: Communication and figuring out logistics are important.  Some of it is trial and error, it’s just a matter of refining your methods and figuring out what works.

TSG: Looking back on your journey as an entrepreneur, what advice would you give to women starting their business journey today?

Ade: If you’ve got an idea you’d like to bring to life, it’s really important to research your idea to make sure that whatever it is, it’s valid. Make sure you really believe in the idea especially if you’re working in another job. If you’re up at 4:00 a.m. or 2:00 a.m. working on this, then you want to believe in it. You also need to be willing to work really hard. Everybody who is going to start something anticipates that it’s going to be difficult, and that it’s going to be hard, but it will be so much more difficult and so much harder than you can prepare yourself for. And also – have faith in yourself. If you don’t believe in yourself, then who will?

TSG: There are so many products and services out there today, the internet has made it easy for everyone to start a business, what marketing advise will you give to small business owners so they can rise above the crowd?

Ade: I would say that good imagery is key – make sure your photos stand out and are of the highest quality. There’s nothing worse than visiting a website with grainy, low-res images. I would also say it’s important to do your research, make sure your idea is valid and be prepared to work really hard!

Beyonce and her Formation World Tour dancers in undergarments made by Nubian Skin

TSG: Finally on collaborations and Partnerships, how has this helped your business and what advice can you share with budding female entrepreneurs looking to engage in partnerships that can help grow their business?

Ade: We occasionally collaborate with influencers and bloggers to create content. It’s really important that the people we work with appreciate our ethos and that the partnerships are as organic as possible. I would say that collaborations and partnerships can be a great way to widen your audience, but make sure that you also think about return on investment and whether the money you spend is going to be worthwhile.

 

 

 

 

 

 

 

Follow Ade Hassan of nubianskin on Instagram, Facebook and Twitter @nubianskin

To see more of Nubian Skin and place an order visit the Nubian Skin Website

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What to look for in a co-founder for your business

2020-02-01T15:00:53+00:00 February 18th, 2019|Categories: Entrepreneur, TheStartUpGold|Tags: , , , , , |

A day in the life of an entrepreneur is full of plots, twists, turns, wins, fails and everything in between. Two heads (or more) are better than one. Having a partner or co-founder allows you share ideas, risks, tasks…

When thinking of how to find a co-founder, you are looking for a business partner that is the Ying to your Yang. 

It is an option for entrepreneurs who want to propel their business growth rate quicker and have no qualms splitting the profits.

So what do you need to validate when seeking a partner for your business? 

Purpose

Investors put their money behind people as they do ideas so finding someone you have a shared sense of purpose with is a great starting point. You could identify this from your history of working together on a successful business or projects. It is fair to say most startup entrepreneurs may not have had this experience. Perhaps engage your potential business partner on a small or short project before you say I do. Get the feels on their passion and vibe before you form a partnership.

Skills and Ability

Find a partner with skills that are compatible and complementary to yours. The perfect marriage should be a blend of capabilities that form a cohesive pillar for the business. Qualifications aren’t enough to validate capabilities you want to see some experience to back it up.

Personality

Know enough about your partners character to understand what drives them? what makes them tick or buzz? Are they emotionally stable and can be relied upon to remain the voice of reason during rough periods or are they the sort to make the business a free for all to attack and defend?

Ambition

Think growth and everything that comes with it such as investment in building client relationships, putting in the hardworking to grow the business. How does your potential partner feel about it and is it something she will support and be diligent on?

Values

Verify if your partner operates with ethical standards and shares your values. For example can your partner be relied upon to act with honesty and integrity always? What other values are important to you and how does your partner feel about them?

A partner is a trusted advocate within your business. Ensure you do your diligence to find a suitable one.

Are there any other attributes worth knowing about a partner? What are your thoughts on how to find a co-founder? 

 

 

 

 

 

 

 

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How to improve your efficiency on a busy schedule

2020-02-01T14:50:20+00:00 February 12th, 2019|Categories: Entrepreneur, TheStartUpGold|Tags: , , , , |

Do you sometimes feel like you will never get on top of the million and one things pending action from you?

You begin working through your To Do list and just when you’re about to expire, another wave of needs, wants and asks blossoms and knocks the wind out of you. Flat out and completely drained, the motivation you previously had to drive your business goals is replaced by an overwhelming despair of your workload.

You can change the despair to joy and excitement by making these  adjustments in your work life to improve your efficiency.

Adopt an entrepreneur mindset…ALWAYS

A busy To Do list focused on value adding activities (emphasis on the words VALUE ADDING) is a great thing and the time you commit to it is an investment in your business. The way you perceive your workload will drive your actions . Successful entrepreneurs have a positive mindset and are energised through self motivation. A positive mindset can help turn a bad situation into a good one in a shorter time period and help you find solutions quicker. This is the mindset you should adopt as you tackle your workload.

Adopt a Lean Approach

Eliminate the non value add activities completely. What you spend time on should bring some measure of growth to your business, if its responding to a customer concern, you could translate that to building customer satisfaction which is great for your brand. If it’s a meeting you’re attending, ensure the  purpose of the meeting is clear and that the discussion is contributing to an area of your business that requires attention. What ever you have on your schedule or To Do list should be something that adds value to your business.

Automate repetitive tasks. Chatbots and FAQs for instance are a great way to address your most frequent customer queries. Consider automation in areas of your business such as Marketing, delivery, invoicing and billing

Outsource and Delegate

Entrepreneurs wear many hats particularly when trying to upscale the business.  To maintain productivity (and your sanity) consider assigning tasks that aren’t your core skills to others. If you have the skill but it takes a significant amount of your time and attention away from other value add activities consider outsourcing or delegating to someone else.

This extends outside of your business life as well. Mumpreneurs in particular will find it beneficial to have a support structure outside of work that gives them more time in the day. This could be hiring the services of a cleaner or a child minder.

To the best of your ability, ensure you are outsourcing or delegating activities you do not necessarily have to do yourself.

Stay Organised

It is said that for every minute spent organising, an hour is earned. Maintain a schedule you are diligent with and ensure activities are done on time and at the right time. Maintaining a log of required actions and commitments helps to keep you focused. You could adopt a daily routine where you check your schedule the night before and plan the following day ahead of schedule. It isn’t uncommon for working women to have the spontaneous unplanned event (Mumpreneurs can relate) but it helps to manage your schedule better when you understand your priorities for the day and can move things round as needed.

Wunderlist, Evernote and Trello are some great mobile apps to help you stay organised and productive.

Prioritise your health and downtime

You really are no use to yourself or anyone else if you are constantly tired and spent. As an entrepreneur you are responsible for the decisions that impacts the people and businesses associated with your business, carrying the weight of this responsibility and staying productive requires you to be in fit form.

Be disciplined about tuning off work (and social media) a few hours a day, make time to connect offline with your family and friends, sleep well, eat well and exercise. When your mind and body is right, you are in a better state to stay motivated and improve your efficiency.

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Beyond Brexit – A guide for UK Businesses

2020-02-01T16:05:09+00:00 February 3rd, 2019|Categories: startupgold|Tags: , , , , , |

Change and Uncertainty remain apt synonyms to describe the impact of a ‘No deal’ Brexit on businesses. As the media purports more stories of gloom that comes with uncertainty perhaps there are reasons to be optimistic about the aftermath of Brexit afterall what is the point of entrepreneurship if not to seek opportunities and work with a growth mind set.

This is by no means an attempt to downplay the effects of a “no deal” Brexit. If we read the data according to the UK Government – EU Exit long term economic analysis , it suggests Brexit will result in a reduction to GDP under all scenarios over a 15 year period, ranging from -2.5% in the modelled white paper to -9.3% in a ‘no deal’ scenario. The numbers suggest a higher likelihood of business closures in the event of a recession. So for smart businesses this is certainly a time to act on a contingency plan.

A 2 – 5 – 10 year review of a UK business’s strategy following Brexit should bolster efforts in areas where there are perceived risks and leverage potential opportunities. The Brexit contingency plan should consider the following:

  • Encouraging an agile culture and mind set within the business to deal with change. Entrepreneurs and small businesses have thrived during periods of instability by being more flexible than established firms to quickly adapt and respond to changes internally and in the market, this would prove useful following Brexit.
  • A lead person within the business capable, empowered and knowledgeable enough to make decisions concerning the Brexit planning, this might be an in-house personnel providing the required governance or a hired consultant supporting the contingency effort.
  • A risk register and documented plan that details risk areas with mitigations, action plans and owners against each area.

As you review your business strategy and contingency plans, consider the effects of Brexit on these areas in your business.

The Economy

A short term economic recession and volatility in value of the Sterling would impact stock markets following Brexit and may affect sales and business confidence in investment. High interest rates could be a deterrent to investment causing FDI to be deferred due to uncertainty following the UKs withdrawal from the EU single market as businesses in the EU observe the impact of new rules regarding the flow of capital and financial services between economies.

Currency fluctuations

This may lead to a higher cost of operation for businesses in the UK with the pound likely to be unstable over a period of time resulting in an inflation and an increased cost of imports for small businesses in the UK.  The requirement for upfront VAT  on all goods imported from the EU along with the actual costs of producing the product itself will have the knock on effect on cost of operations.

A fall in the value of the pound though could also encourage a fresh wave of inward investment as businesses capitalise on lower exchange rates hence creating avenues of growth for small businesses.

Customers

Businesses that have customers concentrated in the UK may see a decline in sales as customers minimise investments and spend. This presents an opportunity for UK businesses to pivot and diversify, expanding into emerging economies and international markets, engaging a new customer base.

Skills and staffing

Reduced EU migration may reduce available workforce in the UK and impact skills in areas such as hospitality, construction, academia, agriculture, and seasonal employment. This could create more opportunities for individuals and businesses inside the UK labour market. The UK has stated that any EU nationals settled in the UK as of 29 March 2019 will be able to apply for a settled status scheme in which the individual is able to live and work in the UK so long as they do not exit the UK for longer than a two year period.

Distribution and Supply chain

It may become longer and harder to ship products considering the higher costs of imports and possible delays at the borders as UK firms comply with the new EU rules. This presents a good time for importers and retail businesses in the UK to source other suppliers outside of the EU.

With over 40% of UK exports going into the EU in 2017, reduced inward investment from the EU could in turn lead to higher tariffs on exports.

Perception of UK business

Whilst there are reservations about the strength of an independent UK from the EU, the reality is there are countries within the EU experiencing staggered growth or a semi recession. The UK’s exit from the EU may encourage some countries to welcome the opportunity to now work with a UK brand that is independent of the EU and its regulations; this could lead to more international joint ventures and partnerships.

Business Support

As UK businesses adapt to the effects of Brexit, small businesses in consultancy and service driven businesses are likely to be winners due to a fast growing demand from corporates and large enterprises seeking help with coping with legislation and effects of Brexit.

Tax

It is anticipated that there will be no immediate changes on indirect and direct tax. As new tax laws come into play in the UK, this may take time to mature and develop.

Contracts

Renegotiations may become necessary on business and customer contracts as new rules come in play and impact service level agreements or cost of operations.

Security and Data Protection

Under GDPR, personal data can be shared between EU member states , as the UK exits the EU and becomes a “third country”, data exchange with the EU becomes more restricted, businesses may be required to review and comply with the UK’s own rules on data protection. By now businesses should have adequate policies in place for data protection, the policies would need to continue being enforced to show there are adequate measures in place to safeguard customer data.

Need help analysing the effects of Brexit on your business?  Contact Us to engage a consultant for a review and contingency plan for your business.

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How to maintain a fit lifestyle while working

2020-01-24T14:05:33+00:00 January 10th, 2019|Categories: Entrepreneur, TheStartUpGold|Tags: , , , , , , , |

Active people are energized to  think smart and work smart

An active lifestyle increases your chances of a healthy life. When you make staying active part of your daily life, you’re energised, more alert, you do better at work and you become more confident.

Many of us spend our days in the workplace sat in on meeting after meeting, hour after hour . Long periods of sitting is said to lead to an increased risk of heart disease, obesity, diabetes and cancer. The World Health Organization even lists inactivity as the fourth biggest risk factor for global adult mortality,

Here are some ways to incorporate some activity into your work life depending on if you have an office for your business or work from home.

  • Walk or Cycle to work
  • Drive at least part of the way to work or try parking your car further away from the entrance
  • Volunteer for the coffee run
  • Start an office fitness challenge
  • Have standing meetings
  • Walk across the hall to talk to a coworker instead of sending an email
  • Take the stairs instead of the elevator
  • Take a longer, roundabout way to your desk
  • If schedule permits, try going for a run or take a long walk during lunchtime.

Healthy habits also go a long way in keeping you fit

Sit right

You probably spend more time at your desk than any place other than your bed. So when you’re sitting in front of it, it’s important to do it properly. Adjust your chair height so that your feet are flat on the floor and your knees and arms are at a 90-degree angle. Adjust your computer screen so that your eyes are even with the top edge. Angle the screen so it’s tilted slightly upward toward your eyes.

Wear comfortable clothes and shoes

Taking the stairs looks a lot less appealing when you’re in towering high heels or a stiff suit. If you must, have some comfy shoes around and perhaps a lighter wear under the stiff suit to help you move around easier.

Stretch

When you sit for an extended period of time, your body and mind falls asleep. Occasionally, you get up for a walk or a stretch. This will wake you up and get the blood flowing through your body (and your brain).

Messy Desk

An unkempt work area can cause stress and lead to inefficiency. Furthermore, your desk, phone, and computer are notorious for harboring germs. Once each week, clean your workspace with antibacterial wipes. Organize your desk in a way that minimizes strain on your body, and keep things in their place. If you need help, look around the office at coworkers’ desks, and ask them for tips.

Relax, Look on the bright side and Make your health a priority

When you are chasing a day full of meetings your stress levels are probably sky-high and stress has a terrible impact on your health and wellbeing. Therefore one of the best things you can do to stay healthy and fit is to learn how to relax.

Healthy people are more optimistic than unhealthy people. They don’t waste time and energy complaining. If they think they need to make a change in their life, they do it. They know that a positive mental attitude goes a long way toward promoting other healthy behaviors in their lives

Heathy people make a conscious effort to be healthy in especially busy or stressful times, it’s easy to let life get ahead of you.

Achieving healthy habits while at work is a mind game. Overcome your personal discouragements, believe in yourself, and take it one step at a time into a heathier, energized and more productive new you.

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