Opportunity Not to Miss: 5 More Days to Enter Business Achievers Awards

Here are some good reasons why you might want to consider adding ‘must enter business competition’ to your ‘to do’ list!

The application process is an opportunity to reflect on what your business is all about and clearly articulate your USP.

It’s an opportunity to work on your business rather than in it by stepping back to look at achievements, challenges, market trends and areas for improvement.

As such it gives you an opportunity to dust off and update the business plan.

Competitions are also about PR, marketing, selling…spin. They’re an opportunity for you to raise the profile of the business for free. Entering the competition will get you into the local press. It’ll probably get you into the regionals and it could get your business national and even international profile.

Marketing opportunities

By working the competition – filling in the forms correctly, engaging with local Ulster Bank reps for the competition, turning up at the networking events, volunteering to give quotes and elbowing yourself into photos, you will get marketing material that’s ‘independent’ for your website and other marcomms. If you progress through the competition there are programs such as Ulster Bank’s Business Achievers Awards that produce corporate videos for all of the short listed companies. These are done by professional companies with editors and designers. You probably cannot afford to produce these yourselves! They are given to you after the competition for your website and other marketing material, and they will impress!

Let your business grow

Working the competition will also give you access to a big network of people that can help your business grow. For obvious reasons the politicans always turn up. You’ll have access to state agencies. You’ll meet all the local and national enterprise support agencies. Bankers, funders, journalists, other successful businesspeople…the big national Awards are a veritable who’s who of the great and the good in business. And you’ll be one of the stars of the show…just by entering. And if you win…!

When you sit down and take the time to apply to a competition, you’ll realize that you have a team supporting you. It illustrates the importance of the support of family and its role in moving your business forward. You’ll see the staff that have and are stepping up to the mark.

You’ll probably get your management involved. Sometimes just by reflecting and internally acknowledging what you’ve achieved together is a major win in its own right.

Superb packages

There are many different competitions out there from local and regional awards to national events. Aside from all the benefits listed above, the winners often benefit from superb packages which may include cash prizes, mentoring, free PR and much more.

Look here, we wont deny that it takes time to enter. We’ve worked with Ulster Bank in particular to get the form down to a fairly slick 20-30 minutes. But even if it takes more time, you owe it to yourself, your staff and your family to give it your best shot.

Even if you’re not short-listed you will benefit from working ‘on’ your business. You can use the knowledge to plan future strategies and identify weak areas. It’ll help you make your business stronger and better. And that’s what it all, eventually, boils down to!

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This post was originally published here - http://www.smallbusinesscan.com/opportunity-not-to-miss-5-more-days-to-enter-business-achievers-awards/ on thinkbusiness

What is it Like to Win the Business Achievers Awards? – The Food Hub

We talk to former winners of the Ulster Bank Business Achievers Awards to learn more about how winning the award has impacted on their businesses.

In this post we speak to Social Enterprise Award winner The Food Hub

An initiative of Drumshanbo Community Council, The Food Hub is a voluntary community group that converted an old food factory into an enterprise centre for food and drink companies. Designed to address the needs of food group manufacturers and to attract enterprise to their community, the food production facility tailors to entrepreneurs who may not have the initial seed capital to invest in a start-up production facility, and to existing businesses wishing to expand who demand greater cost-effective production capacity as their sales volume increase.

Established in 2007, the Food Hub also offers sectoral training programmes for the food sector; from start your own food business programmes to hospitality operations. The Food Hub employs over 40 people across eight tenant companies.

What was your start-up day?
We had our official opening on October 12th 2007. Not the best timing given the economic climate at the time but we survived a few lean years to see things come together in the last 18 months or so.

What motivates you?
As this is a community initiative it’s all about creating jobs and encouraging enterprise in the local area with the ultimate aim to enable people to earn a living in their own area.

What keeps you up at night?
Thankfully we’ve gotten over that stage!

Social Enterprise Award Winners, The Food Hub

Social Enterprise Award Winners, The Food Hub

 

What’s been the most surprising part of running the business?
Because of the nature of running an enterprise centre with several different businesses, one of the big surprises was how supportive and co-operative companies have been with each other.

What’s been the most challenging for you?
Undoubtedly the first 3 years when we really struggled with low occupancy and had a couple of business failures here that had a big impact. We had to borrow money to complete the project and meeting that obligation without the revenue to support the business was very difficult.

And the most rewarding?
Definitely seeing over 50 people come to work every morning in a building that was derelict 10 years ago and contributing nothing to the local economy.

What is one mistake you’ve made, and what did you learn from it?
Trying to do everything ourselves for financial reasons – there are times when you have to accept you don’t have the expertise for certain jobs and must pay those that do.

What are some of the characteristics of people that have been successful at your company?
Single mindedness is a common trait among those businesses that tend to succeed. Those that refuse to be side-tracked by the bureaucracy of setting up a new company usually emerge as winners. It’s like Henry Ford said:” Whether you think you can or think you can’t, you’re right”.

What are you most excited about for the future?
We’re now looking at a new phase of the project whereby we hope to become a food tourism destination by developing visitor attractions and hopefully creating more jobs and in the process pulling in visitors to this region.

Any amazing families, partners, friends behind the scenes you’d like to thank – how did they support you in the early days?
Like all voluntary projects it was only possible because of the support of families and friends but they are too numerous to mention.

What doors has winning the Ulster Bank Business Achievers Awards opened for you?
Certainly has raised our profile and provided a level of recognition that wasn’t there previously.

What was the biggest benefit for you winning this award?
I think the acknowledgment of the work carried out to date on a national stage has led to an increase in confidence in the group that will hopefully lead to further ambitious developments in the years ahead.

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Marketing Tips and Techniques for Entrepreneurs

Marketing can be seen as an art form in many cases and you need to be aware of the various techniques that will showcase your business ideas in the best light. If you find that you are struggling to get your business off the ground, it could be due to the possibility that you are missing out on something that you can easily incorporate into your marketing strategy. Read on for some key marketing tips for your business…

Get Visual

We are perceptive and visual people, which is why we are always drawn to movies and fantastic works of art. If you want to get your company noticed, you have to start using business stationary and advertising to sell your company. A great option is to use brochure printing from Helloprint to reach a bigger customer base further afield. Other options to use include business cards, flyers, banners or leaflets in order to get your brand out there and start making valuable connections with potential customers.

Showcase Benefits

Instead of focusing solely on the different features that your company has to offer, showcase the benefits that choosing your brand can have on potential customers. Lean towards these benefits whenever you are trying to sell to a new customer and they will begin to realise that your business can provide solutions to their problems.

Marketing Strategy

You need an innovative and productive marketing strategy to lift your business off the ground and see it blossom. Make an app for your company and be available via mobile and social media. According to www.onboardly.com it is important that you test your marketing ideas on small batches that last a period of two weeks. This is so that you can measure the ‘successes and failures of these two-week experiments you will have a better idea of what works and what doesn’t’.

Listen

You need to learn to listen to not only your customers, but other successful business leaders who will be able to give you valuable advice. Ask questions and learn as much as you can about the relevant market in which your business occupies. Research other companies that are similar to yours and discover what has worked for them in the past and what didn’t.
Pay attention to the trending subjects online if you plan to use content marketing in your strategy and seek those who are in need of your company in order to attract new clients/customers.

Trustworthy Team

A successful business always has a talented team of people working behind the scenes to ensure that the business runs smoothly. You need to weigh your strengths and weaknesses up and then hire people who will be able to strengthen those weaknesses. According to Forbes, hiring the right talent is essential to your business’ success. Don’t rush into the decision. As an entrepreneur it may be difficult to come by the finances to be able to hire a talented team in the first place which is why it is important to take on the right people, who are passionate about the business and who are able to advance and enhance it.

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Questions and Answers from Ulster Bank’s #BusinessAchievers Twitter Q&A

Leading up to Ulster Bank’s Annual #BusinessAchievers Awards, a team of Ulster Bank specialists, Ron the Co-Founder of Smallbusinesscan.com, sat down for a Live Twitter Q&A.

The team provided some tips and tricks for award hopefuls, as well as detailed insight into previous winners, and the application process. For those of you who missed the live event, you can check out the Q&A below! Alternatively, search for #BusinessAchievers on Twitter.

Q1. When is the closing date for entries? #BusinessAchievers via @wellclever

UB: Hi @wellclever, it’s the 25th of September. See here for more details http://bit.ly/1pXjvt5 . Best of luck.

Q2. What would be the number one tip for applying for #businessachievers? via @orangemanta

UB: Hi @orangemanta, make your first paragraph stand out… and run spell check! See here for more details http://bit.ly/1pXjvt5  

Q3. Can you enter the female entrepreneur award if you are one of four founders, the rest being male? #BusinessAchievers via @iveavicky

UB: Hi @iveavicky, if you are the CEO – the answer is yes. Please get in touch via ron@smallbusinesscan.com for more info. #BusinessAchievers

Q4. What categories are there to enter in #BusinessAchievers @UlsterBank? Via @davranetworks

UB: Hi @davranetworks, there are 8 categories and you can enter up to 2 categories. See here for more http://bit.ly/1ECwyC8  #BusinessAchievers

Q5. Can companies operating internationally, but based in Dublin apply? #businessachievers via @spud554433

UB: Hi @spud554433, absolutely. There is also an international category. See here for more http://bit.ly/1pXjvt5 . #BusinessAchievers

Q6. Want to enter the start-up category, when still in the beginning phase. Can we enter&how do we do it? #BusinessAchievers via @iveavicky

UB: Hi @iveavicky, yes. Tell your story from the original idea up to incorporation. Good luck! #BusinessAchievers

Q7. What is the best category to go for in the #businessachievers? Via @orangemanta

UB: Hi @orangemanta, the category that best tells your company story! #BusinessAchievers

Q8. Is there a category for an Irish company that is built largely around trading foreign products? #BusinessAchievers via @TankersleyWine

UB: Yes there is @TankersleyWine. You should take a look at international category here http://bit.ly/1ECwyC8 . #BusinessAchievers

Q9. Are there regional awards or just a national competition? #BusinessAchieversAwards via @kieranomalley1

UB: There are Leinster, Connacht, Ulster and Munster provincial finals and a national final @kieranomalley1. #BusinessAchievers

Q10. I’m a one man show – is there a category I can enter? #BusinessAchievers via @killerfitz

UB: There are a number of categories that you can go for @killerfitz. Check out here for more info http://bit.ly/1ECwyC8  . #BusinessAchievers

Q11. Why do you think applying for #businessachievers is worthwhile? Via @orangemanta

UB: PR, access to the Ulster Bank ecosystem – national & global, networking opportunities AND sales @orangemanta. #BusinessAchievers

Q12. Can I get help with my #businessachievers application? via @bizwomencan

UB: Yes. You can book a free mentoring session with the guys from @SmallBC. See here http://bit.ly/1LvXOF1  @bizwomencan #BusinessAchievers

Q13. Can businesses enter more than 1 category? #BusinessAchievers via @KarKeeley

UB: Yes – you can enter up to two categories @KarKeeley. See here for more http://bit.ly/1LvXOF1  #BusinessAchievers

Q14. Who’s the most famous winner you’ve had? #BusinessAchievers via @kezzamcfezza

UB: Some Include: @taytopark, @Mcor3DPrinting, @RealexPayments,  @MoyParkChicken, @JaipurIndianCO + many more @kezzamcfezza. #BusinessAchievers

Q15. Is there a category for writers/artists or is it just business? via @helenmcnulty

UB: There’s a social enterprise category, but if you sell art or writing for profit, enter biz categories: http://ow.ly/Sh7EW

Q16. Are there any requirements for start-ups planning to enter? Via @iveaLabs 

UB: Biz must be in existence for less than 3 years. Any sector, turnover, no. of employees #BusinessAchievers http://ow.ly/S63Kl

Don’t forget to follow @UlsterBank and @SmalBC for more on this and other events.

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A helping hand when entering business awards

If you believe that you or your clients deserve to win business awards, such as the coveted Ulster Bank Business Achievers Awards, but do not have the time or expertise to compose powerful award submissions yourself, then there’s a consultancy that can help. Boost Marketing are the world’s first dedicated award entry consultancy, and helping businesses enter awards successfully is what they do for a living – day in, day out.

The firm can help you evaluate the impact of your initiatives and strategies, write your submissions and even help you prepare for judges visits and second stage presentations.

To date, Boost have written over 1,500 award submissions, with 75% making it to the finals and 40% going on to win.

Since launching in 2007, Boost have become market leaders in their field, with operations in the UK, Ireland, USA, France and New Zealand.

The Boost Marketing team

The Boost Marketing team

As well as helping clients write their submissions, Boost have also developed the world’s largest database of over 2,500 global award schemes, ensuring clients never miss a suitable award. You can view this database for free via their website.

What’s more, they provide a free ‘Award Alerts‘ service, whereby they will email you each month with a list of awards that are coming up, so that you never miss an upcoming deadline. You can sign up easily for free via their website.

“Boost work incredibly hard to understand every facet of our business. This investment has paid real dividends. Our shortlist rate and our win rate have sky-rocketed with their help.”
Julie Urquhart, PR Manager Hastings Direct

Contact Boost today to see how they can help you win awards:

 

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Debunking Myths About Merchant Cash Advance Loans to Small Businesses

For many people who are vaguely familiar with the term, ‘Merchant Cash Advance’, it is not something they want to deal with. This is probably because many business people have always viewed this kind of loan with some degree of suspicion. It is worthwhile for you as a small business owner to learn what it really is and what it really does.

Many businesses fall into financial problems which can be sorted out in the short-term by merchant cash advance facilities. You will not be in a position to take advantage of this facility unless you purge some of the myths that float around about such loans. Here we debunk these myths and we will see how they can help your business weather financial storms.

  • MYTH 1 – Merchant cash advances are expensive for you: This myth comes from the fact that most quick loans are deemed to be expensive. The truth is that the interest which is pre-agreed is the only money you have to pay over and above the amount you borrowed. Most service providers do not charge any application, processing or closing fees like banks do.
  • MYTH 2 – They are for failing businesses: Not true at all. All businesses come into financial difficulties once in a while. This does not mean that those businesses are on the verge of failing. In fact, merchant cash advance for small business, as short-term financing, has helped such businesses ride financial storms and emerge stronger and better afterwards.
  • MYTH 3 – You cannot use merchant cash advances to spur growth: When business owners, who know the value of these type of loans, take them, it is not because they just want to help with cash flow shortfalls or such issues. You can take such financing to acquire new machinery or improve your business process or carry out renovations, all which spur growth.
  • MYTH 4 – They have a negative impact on credit ratings: Strictly speaking, a merchant cash advance loan is where you sell your future credit and debit card sales to another party. This loan will actually help you avoid a bad credit score by helping you to pay off debts, maintaining your payroll and by preventing you from loading all your debts on your credit card.
  • MYTH 5 – The processing period is long: Here, the opposite is true. The time taken by most merchant cash advance companies to process your application can be as short as 48 hours and definitely not extend beyond one week. Comparing this period to the weeks or months a bank takes to approve your conventional bank loan, you know where the advantage lies.

Most business myths are easily debunked by having the right information. As a small business owner, merchant cash advances could be the difference between your business now and increased productivity.

Josh Wallace has written widely on small business funding in many respected journals. He is also an advisor to the government on small business promotion. For more information on merchant cash advance for small business, contact him for insightful advice.

The post Debunking Myths About Merchant Cash Advance Loans to Small Businesses appeared first on Small Business Can.

Debunking Myths About Merchant Cash Advance Loans to Small Businesses

For many people who are vaguely familiar with the term, ‘Merchant Cash Advance’, it is not something they want to deal with. This is probably because many business people have always viewed this kind of loan with some degree of suspicion. It is worthwhile for you as a small business owner to learn what it really is and what it really does.

Many businesses fall into financial problems which can be sorted out in the short-term by merchant cash advance facilities. You will not be in a position to take advantage of this facility unless you purge some of the myths that float around about such loans. Here we debunk these myths and we will see how they can help your business weather financial storms.

  • MYTH 1 – Merchant cash advances are expensive for you: This myth comes from the fact that most quick loans are deemed to be expensive. The truth is that the interest which is pre-agreed is the only money you have to pay over and above the amount you borrowed. Most service providers do not charge any application, processing or closing fees like banks do.
  • MYTH 2 – They are for failing businesses: Not true at all. All businesses come into financial difficulties once in a while. This does not mean that those businesses are on the verge of failing. In fact, merchant cash advance for small business, as short-term financing, has helped such businesses ride financial storms and emerge stronger and better afterwards.
  • MYTH 3 – You cannot use merchant cash advances to spur growth: When business owners, who know the value of these type of loans, take them, it is not because they just want to help with cash flow shortfalls or such issues. You can take such financing to acquire new machinery or improve your business process or carry out renovations, all which spur growth.
  • MYTH 4 – They have a negative impact on credit ratings: Strictly speaking, a merchant cash advance loan is where you sell your future credit and debit card sales to another party. This loan will actually help you avoid a bad credit score by helping you to pay off debts, maintaining your payroll and by preventing you from loading all your debts on your credit card.
  • MYTH 5 – The processing period is long: Here, the opposite is true. The time taken by most merchant cash advance companies to process your application can be as short as 48 hours and definitely not extend beyond one week. Comparing this period to the weeks or months a bank takes to approve your conventional bank loan, you know where the advantage lies.

Most business myths are easily debunked by having the right information. As a small business owner, merchant cash advances could be the difference between your business now and increased productivity.

Josh Wallace has written widely on small business funding in many respected journals. He is also an advisor to the government on small business promotion. For more information on merchant cash advance for small business, contact him for insightful advice.

The post Debunking Myths About Merchant Cash Advance Loans to Small Businesses appeared first on Small Business Can.

How Can You Get Individual Superstars to Work Together?

When you have a small business, you need to have the best hire to be part of your tram. However, it’s not always a piece of cake to gather aces and put them on their best places and get them to work altogether.

Most managers are then faced with the question on how to combine their talents, skills, and brains for one project and lead them to work harmoniously.

Vince Lombardi believes that the secret to building a team of superstars is to motivation them to work towards a common goal. But even if we’re not talking about sports, the same motivation is quintessential in any team, especially in the workplace.

In the Team Effectiveness Review led by Elaine Yew at Egon Zehnder during the late 90s, she discussed the six critical team competencies that can make an A-team thrive.

Let’s explore the six ingredients that make individual superstars work great with a team.

Balance

It’s not enough that the team understands the importance of diversity of skills and strengths. They should be also willing to incorporate them. Dan of The Leadership Freak noted about 13 reasons why teams lose momentum and one of them is dominant members who cause others to feel insignificant.

As the leader, you are responsible to help your members understand each other’s skills and strengths despite the fact that superstars tend to be “me-focused”. By identifying each superstar’s motivation, you can work around how to best motivate and inspire them to work with others without feeling the need to be always be on the spotlight.

Energy

An ambitious team thinks about long-term momentum at a high level. Superstars are naturally driven individuals who always have the thirst for victory and excellence and each member’s enthusiasm would easily rub off on others.

Alignment

Do your team members understand the larger team purpose? If not, you may want to direct all theirefforts on one central objective. It’s time to leverage their thinking. TribeHR Staff said businesses are most successful when employees’ personal goals are aligned with that of corporate goals. Yes, while each member may have personal goals and priorities, team leaders should aim to make the business thrive and ensure that each team player’s goal aligns with that of company’s.

Resilience

Author Margaret Heffernan said that social capitals make a group resilient. By that, she means trust, knowledge, reciprocity, and shared norms. If you are a team leader, it helps to show your team the outcome of their collected efforts. Writer Glenn Llopis said one of the ways to inspire a team is to make them feel that their hard work makes a difference beyond just profitability.

Efficiency

One of the biggest challenges to teams is how to deal with pressure not only individually, but also as a team. You may encourage your team to try a few quirky de-stress hacks such as photography contest activities or simply employee’s day out. After a super-busy week, your team deserves relaxing and reenergizing activities to keep them motivated and happy at work.

Openness

Do the team members’ value engaging with the broader organization? When each member has connection to one another, it becomes effortless for them to share ideas, concerns and contribute towards the common goal better.

Having great individuals work together as a team is a great opportunity and a challenge to focus on the over-all and high level goals. By focusing on the over-all objectives, one can minimize the potential clashes within the team and make the best use of individual talents, skills and take advantage of the adversity of the group.

Having aces on their best places allow each team member to feel significant without having the need to be constantly on the spotlight and think more of the common goal as opposed to focusing solely on individual ones.

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A Guide to Improve Online Customer Experience with Upselling and Cross-Selling Strategy

For aspirants in eCommerce industry who wish to make it big, merely cataloguing products and focusing on intelligent navigation will not suffice. It’s time to think out of the box. And this comes through the process of upsell and cross-sell strategy. Most of the digital businesses often do not care of this selling technique and lose revenue in the long run.

Why Upselling and Cross-selling?

The process is an art of introducing customers to complementary products that gets instant acceptance. According to Forrester research analyst, upsells and cross-sells strategy is responsible for an average of 10-30% of eCommerce revenue.  Every time a customer buys something, and if you fail to offer an upsell and cross-sell, you are definitely missing a great opportunity to increase your sale.

Surveys have revealed that both these strategies are useful in increasing revenues manifold. Also, the tool helps customers choose the high quality products when shopping online.

Here’s how it goes…

Let’s say a customer is looking at purchasing a camera

Upselling strategy: After selecting a camera, if customer is immediately presented with the option of buying a DSLR camera, the merchant is trying to persuade the customer to switch his purchasing decision to a more expensive product. Upselling is getting the customer to spend more money on the same type of product he initially intended to buy.

Cross-selling: Ones when the DSLR camera is purchased, if the customer is presented with options like a camera bag, additional lenses and memory card, it complements their existing purchase. When customers are offered additional products to support and complement the product that he has already decided to buy, the technique is called cross-selling. The special packages supporting the main item allow your customers to receive that extra at a special price. The strategy aims at getting a customer buy more products in addition to the original product he intended to buy from you.

In case of an online business, upselling and cross-selling includes showing the related and relevant products on order or product page.

The Core Difference

Upselling is about understanding the features of your more expensive products and how those features can be of great value and benefit to the customers. While cross-selling involves how the special packages supporting the main products allow your customers to acquire that extra they require at a special price.

Can You Upsell and Cross-sell everything?

Simply focusing on selling more and increasing the customer’s cart size isn’t always the right strategy. You need to understand what exactly your customers want. Consider what actually makes sense to show your customers and at which stage in the purchasing lifecycle.

Consider the three primary factors during Upsell and Cross-sell Method-

Relevance of the add-ons

Showing irrelevant additional products will unnecessarily confuse your customers. Make a list of your products and accessorize them with the compatible ones. Given a situation, customers will always need something besides the product he’s currently buying.

The greater familiarity your customers have with the additional item, the more likely they’re to buy.

Value for money

While you upsell and cross sell your products, do not increase the overall product order by more than 25 percent. Customer should feel the worth of every penny they spend.

Right time to approach

You don’t want to seem pushy with your products and on the contrary, you also don’t want to miss the window of opportunity. It is recommended to create triggered-based rules to showcase the right message at the right time.

Don’t exaggerate

Ones you know what to upsell and cross sell your customers, be tactful about it. Showing your customers heaps of unnecessary products, page after page will only confuse your customer’s acuity about your brand. This ultimately affects the overall conversion rates.

Are You Considering Upselling or Cross-selling?

Most of the retailers often remain confused as what to select – upselling or cross-selling. Research and analysis has revealed that consumers are more attracted to the upselling process than the cross-selling. It has been observed that they pay more attention to the pages that upsell the products. Studies have also revealed that 4% of the total online sales are usually driven by upselling strategy, whereas cross selling drives only 0.2%.

However, it has been noticed that cross sell is more effective when the products are presented on the checkout pages. It should not be ignored completely, but suggestions of the add-ons should be made more intelligently based on what the customers are buying, post purchase history and the amount they spend.

Measure your Performance

Analytic tools help in assessing the purchases that has already taken place and the trends associated with it. If a mother is buying diapers for her baby, she might buy other products related to infant care. This trend needs to be analyzed so that next time a mother clicks on a diaper in an online catalogue, she must get a pop-up of other products related to her baby care. These related products are quite useful for prospective customers.

Considering all these factors, plan your upsell and cross sell strategy to improve conversion rates as they’re effective drivers of additional revenue for your business.

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