A good philosophy to have as a small business is to surround yourself with those "who have knowledge and talents in areas where I might not be so well versed" (Richard Branson), whether it's regarding employees, suppliers or even customers. But, despite being a closer relationship that provides a more satisfying approach, working as a partner has its own challenges. If you're treating someone as a supplier or customer, there is a natural distance but, as a partnership, it becomes a bond that requires trust and confidence.
As businesses are starting to reopen, many are having to adjust the way they operate. A shrewd company is not thinking about how they can simply survive through the next few weeks and months, but how they can adapt their business model to the new environment. As their old thought processes become sub-optimal, and with the market potentially changing long term, firms are having to ask themselves "what are we good at; how can we deliver that value?"
Situations like the current predicament tend to give birth to innovation, and the technology that has come of age in this pandemic is the use of remote video . In the marketing world, this presents itself in the form of webcasts, a term we prefer to webinars, as it puts the emphasis on content (which is where the value lies) and not the format or as an advert. Regardless of software, issues such as video quality and connection should be non-existent, thus rendering the technology "invisible" to the user.
When it comes to effective communication, it's important to use a good mix of content and media to maximise viewability, rather than reliance on a single social channel. Any communication you have needs to sit well and reflect your business proposition in order to successfully spread the message. But a balance needs to be struck between saying the right things and getting them to your audience in the right way.
We've all been taking a philosophical view of life the past few weeks but what place should philosophy have in your business model? A while ago we explored 'the Power of Why' and the philosophy behind why you do what you do but today we're looking at it in more depth. What drives you in the morning? Why are you in business and what do you wish to do with it?
The success of Captain Tom's 100th birthday walk for the NHS has been well-documented in the UK, now raising over £28m thanks to becoming a phenomena on social media. Contributing to social media is a lot like buying premium bonds: you invest in it without expectations to make it big, but you anticipate getting something back for your efforts. People post on online platforms every single day, and while it may not gain major traction, there is value to be had.
While much has changed over the last 3 weeks, life goes on and a large part of the economy is still trying to continue. There are contrasting impacts felt: many do not have the freedom to close and furlough staff until salvation arrives, online food sales are booming while the high street is a ghost town, B2B businesses are enjoying more luck than significantly hit companies dealing with retail. And it's likely that for the next few weeks we're going to remain at home under lockdown...so how can your business adapt to this new normal?
In these current times, most of us are in unfamiliar and uncertain situations that are presenting new challenges daily. But can this can also enable great opportunities? Over recent weeks, we have been focusing on the long term and someone having pressed the Pause button provides the chance for people to work on their business rather than in it, whilst focusing on staying 'in the game' for now we have the opportunity to come out the other side stronger.
WordPress was launched in 2003 and, bar the odd website, we've exclusively been using the open-source system for a number of years now. But why is that? While it was initially designed as a simple tool, and still is, over time it has seen an increase in functionality and become a very powerful content management platform - one that can be flexibly and quickly used in-house.
Third party reviews are key for most ecommerce sites and very valuable even for niche B2B markets. But because there are so many fake reviews online, your testimonials need to sound as genuine and credible as possible; not everything needs to be a glowing 5-star review. The benefit of case studies is the demonstration of what your business provides via the eyes of the customer.