A step away from the issue of networking in today's post. I'm glad the headline got your attention, because for any small business one of the biggest nightmares is unwarranted attention from the tax man. Whilst we all work hard to make sure our businesses are tax compliant, tax inspectors have a way of making us all fell a bit queasy: our integrity and efficiency are being second guessed.
By far the best protection from the tax man for SMEs is offered through membership of the Federation of Small Businesses. The Federation's "Tax Protection Scheme" comes as an automatic right of membership, which for a one man band costs £150 for the first year, £120 thereafter. If you have between 1 and 4 employees then it's £200 for the first year, £170 thereafter.
What does the Tax Protection Scheme offer? Professional advice and support and full representation during any HMRC investigation. Now when you consider that the average length of a tax enquiry is 21 months; just consider the cost, financial, emotional and time-wise that such a process will take out of you, your business your health and your family.
Here is an interesting statistic, in 25% of HMRC investigations the businesses concerned had a turnover of less than £25000, 50% of targeted businesses had a turnover of less than £150000. HMRC clearly sees small businesses as an strong source of revenue yield.
What are the results of FSB protection? Well 70% of FSB members had an additional liability of £500 or less after investigation. 30% had no additional liability. Add to that the fact that FSB professionals do all the work for you whilst you look after your business, and you can see like, BFORB East Yorkshire members have that it's a no- brainer.
Here is the link to the FSB website. If you call them now you will receive a visit from an officer within a few days( weather permitting).
Good luck
Thursday, 2 December 2010
Monday, 29 November 2010
Business Networking Clubs are a Complete Waste of Space
If you follow the guidance below:
1. Join the first one you come across, especially if it's got lots of members
2. Don't waste your time outside of your club with fellow members. The whole point of the club is to provide you and them with one opportunity to pass on business. We all have our own lives to lead. Focus on your business and focus your efforts on the needs of your business at your networking club.
3. Don't stay too long if you get no business out of it. Once you've found that none of these people you meet once a week are passing you business then join anther group.
4. What ever you do, don't take on what these clubs refer to as executive roles or officer status. Life is too short and you're not paying money for extra work.
5 Make sure you sell as much as you can to members. This links up to point number 3. Sometimes these people need to be reminded who you are, especially when you are trying things out. The best way to get noticed is by approaching individuals and letting them know what you have to offer. They will certainly remember you, especially if you offer a nice discount!
6 Don't get too anxious about your sixty second slot or elevator pitch. Everyone else is a nervous as you. Just be yourself and tell them as many things as possible about what you offer and all the different types of leads you are looking for. There is a good chance that at least one of your colleague swill pick up on one thing that will be advantageous to you. It's a numbers game after all.
1. Join the first one you come across, especially if it's got lots of members
2. Don't waste your time outside of your club with fellow members. The whole point of the club is to provide you and them with one opportunity to pass on business. We all have our own lives to lead. Focus on your business and focus your efforts on the needs of your business at your networking club.
3. Don't stay too long if you get no business out of it. Once you've found that none of these people you meet once a week are passing you business then join anther group.
4. What ever you do, don't take on what these clubs refer to as executive roles or officer status. Life is too short and you're not paying money for extra work.
5 Make sure you sell as much as you can to members. This links up to point number 3. Sometimes these people need to be reminded who you are, especially when you are trying things out. The best way to get noticed is by approaching individuals and letting them know what you have to offer. They will certainly remember you, especially if you offer a nice discount!
6 Don't get too anxious about your sixty second slot or elevator pitch. Everyone else is a nervous as you. Just be yourself and tell them as many things as possible about what you offer and all the different types of leads you are looking for. There is a good chance that at least one of your colleague swill pick up on one thing that will be advantageous to you. It's a numbers game after all.
Thursday, 25 November 2010
Monty Python's Networking Technique
Mark: Hello my name's Mark.
Mark's New Friend: What do you do then?
Mark: I run Business Referral Clubs.
Mark's New Friend: I went to one of those once.
Mark: Oh Good, Enjoy it?
Mark's New Friend: Nah. Didn't want to go to a meeting every week.
Mark: Glad you said that, we meet once a fortnight.
Mark's New friend: Didn't want to have to give referral every week
Mark: Glad you said that. In my group someone said that to me once. I just said, "Anything you do like asking to have a chat to someone later adds to building relationships." Referrals come later, relationships first.
Mark's New Friend: Too much structure, don't like that.
Mark: Glad you said that. Well we have quite a bit of structure in our groups but we also make sure that we have plenty of time for informal chat. Last week's meeting overran by 30 minutes as we all stayed chatting about City.
Mark's New Friend: You follow City then?
Mark: No I follow Southampton
Mark's New Friend: You poor sod.
Mark: Yes.
Mark's New Friend: What time do you meet?
Mark: 6.45
Mark's New Friend: Sheessh too early for me!
Mark: Glad you said that. We'll be setting up an evening group in the New Year.
Mark's New Friend: Like to get home after work. Also I like to do business in the pub.
Mark: Glad you said that. That's what x over there did. I introduced him to one of the members and they met for a beer last Friday.
Mark's New Friend: I only go to pubs with people I know.
Mark: Glad you said that. So apart from the structure, the referrals, the time in the morning, the time in the evening and meeting new people basically you think its a good idea, want to come next week?
Mark's New Friend: Grunt
Mark: I'll piss off now shall I?
Mark's New Friend: Nah, don't worry. So why the hell do you support a crap team like Southampton anyway?
Mark: Glad you said that.....
Mark's New Friend: What do you do then?
Mark: I run Business Referral Clubs.
Mark's New Friend: I went to one of those once.
Mark: Oh Good, Enjoy it?
Mark's New Friend: Nah. Didn't want to go to a meeting every week.
Mark: Glad you said that, we meet once a fortnight.
Mark's New friend: Didn't want to have to give referral every week
Mark: Glad you said that. In my group someone said that to me once. I just said, "Anything you do like asking to have a chat to someone later adds to building relationships." Referrals come later, relationships first.
Mark's New Friend: Too much structure, don't like that.
Mark: Glad you said that. Well we have quite a bit of structure in our groups but we also make sure that we have plenty of time for informal chat. Last week's meeting overran by 30 minutes as we all stayed chatting about City.
Mark's New Friend: You follow City then?
Mark: No I follow Southampton
Mark's New Friend: You poor sod.
Mark: Yes.
Mark's New Friend: What time do you meet?
Mark: 6.45
Mark's New Friend: Sheessh too early for me!
Mark: Glad you said that. We'll be setting up an evening group in the New Year.
Mark's New Friend: Like to get home after work. Also I like to do business in the pub.
Mark: Glad you said that. That's what x over there did. I introduced him to one of the members and they met for a beer last Friday.
Mark's New Friend: I only go to pubs with people I know.
Mark: Glad you said that. So apart from the structure, the referrals, the time in the morning, the time in the evening and meeting new people basically you think its a good idea, want to come next week?
Mark's New Friend: Grunt
Mark: I'll piss off now shall I?
Mark's New Friend: Nah, don't worry. So why the hell do you support a crap team like Southampton anyway?
Mark: Glad you said that.....
Tuesday, 23 November 2010
Netiquette Part 3: Sending E-Mail to Rude Folk
There's nothing quite like people who are rude and don't respond to e-mails.
I've just seen an excellent posting on the website Netm@nners.com . This article, tackles the question of how quickly one should respond to e-mails. Whilst there is no question that we can all become inundated by e-mails especially SPAM , it is incumbent upon us to respond to all e-mails as quickly as we can.
Sometimes it can feel a nuisance having to wade through a pile of e-mails, and there very well may be a good reason why we cannot send a quick response, but to the sender a lack of response will appear to be bad manners. As the article says, the fact that the sender knows that the message is delivered to your desk the second it is sent means that they will assume that you are able to deal with it there and then.
The answer, it is suggested is to set up an out office reply. This can set up a brief automated response to inform people that you are out of the office and will get back to them as soon as possible.
Here's a link to a site that shows you how to do it. Anyone who has any comments or further advice, please post a comment here.
I've just seen an excellent posting on the website Netm@nners.com . This article, tackles the question of how quickly one should respond to e-mails. Whilst there is no question that we can all become inundated by e-mails especially SPAM , it is incumbent upon us to respond to all e-mails as quickly as we can.
Sometimes it can feel a nuisance having to wade through a pile of e-mails, and there very well may be a good reason why we cannot send a quick response, but to the sender a lack of response will appear to be bad manners. As the article says, the fact that the sender knows that the message is delivered to your desk the second it is sent means that they will assume that you are able to deal with it there and then.
The answer, it is suggested is to set up an out office reply. This can set up a brief automated response to inform people that you are out of the office and will get back to them as soon as possible.
Here's a link to a site that shows you how to do it. Anyone who has any comments or further advice, please post a comment here.
Friday, 19 November 2010
I am a Name not a Number
I have to make a confession. When I started my career in teaching I could never remember children's names. When you first start out in secondary teaching you have 7 or 8 groups of 30 children to teach. You meet them all once within the first 3 days, that's 240 names to learn. In my first year I struggled terribly for the first half term and there were still about half a dozen children whose names I could not remember. Part of the problem is that when you start teaching there are a bewildering array of things to learn, systems, timetable , staff names, discipline systems (or more usually a complete lack of them).
After the first 2 weeks I met with a Mother who wanted know how her son was getting on. I didn't know who he was. There was not much point making excuses that I was a new teacher and was suffering from information overload. I managed to fluff my way through with some generalisations and from then on resolved never to be caught out again. I developed a number of tricks to make sure that I had a class' names taped within two lessons.
Amazingly, I come across people in the business world who only meet 1 or 2 people at a time and yet still don't remember their names second time round. Greeting someone by their name is a compliment, especially if you have only met them once before. When someone greets you by your name they have clearly taken the effort to value you as an individual.
Two tips for remembering names with more to follow:
1. Repeat the name as you are presented. I don't mean repeat christian name and surname like Arnie in The Terminator, just say "Tom nice to meet you". Verbal repetition is a useful way of memorising something. You are also positively reinforcing your new acquaintance's identity.
2. If you've taken a business card from someone then send them a brief courteous e-mail that evening. By looking at the card and recalling the name and face you will again be embedding that person's identity into the memory bank.
After the first 2 weeks I met with a Mother who wanted know how her son was getting on. I didn't know who he was. There was not much point making excuses that I was a new teacher and was suffering from information overload. I managed to fluff my way through with some generalisations and from then on resolved never to be caught out again. I developed a number of tricks to make sure that I had a class' names taped within two lessons.
Amazingly, I come across people in the business world who only meet 1 or 2 people at a time and yet still don't remember their names second time round. Greeting someone by their name is a compliment, especially if you have only met them once before. When someone greets you by your name they have clearly taken the effort to value you as an individual.
Two tips for remembering names with more to follow:
1. Repeat the name as you are presented. I don't mean repeat christian name and surname like Arnie in The Terminator, just say "Tom nice to meet you". Verbal repetition is a useful way of memorising something. You are also positively reinforcing your new acquaintance's identity.
2. If you've taken a business card from someone then send them a brief courteous e-mail that evening. By looking at the card and recalling the name and face you will again be embedding that person's identity into the memory bank.
Tuesday, 16 November 2010
How Not To Work the Room
Yesterday I went to an event hosted by Yorkshire Business Angels, they are a group of venture capitalists who invest in SMEs and have regular conferences where entrepreneurs can make presentations and pitch for investment.
I went along not because of any need for a business angel but to network and tell people about BforB. I met some familiar faces and one or two new ones as well. One particular chap I met is a business consultant. As we talked I understood that we had a lot in common, we both spoke more than one langauge and we had both lived in Mexico city for a time. I also learnt that he was a vastly experienced business man who had worked for and on behalf many prestigious companies around the world.
As we spoke we were joined by somebody else who described herself as a "Non Exec". Having asked what we both do she spoke largely about herself and then said her goodbyes and joined another group. At the end of the presentations my older wiser and more experienced colleague turned to me and said: "Just a word of advice, I found that woman who joined us and then cleared off after 5 minutes pretty offensive. Make sure you remember that."
As we said our goodbyes he said: "I wouldn't expect you to pay me, but if you ever feel you need some advice on running your network referral business then let me know"
Enough said.
I went along not because of any need for a business angel but to network and tell people about BforB. I met some familiar faces and one or two new ones as well. One particular chap I met is a business consultant. As we talked I understood that we had a lot in common, we both spoke more than one langauge and we had both lived in Mexico city for a time. I also learnt that he was a vastly experienced business man who had worked for and on behalf many prestigious companies around the world.
As we spoke we were joined by somebody else who described herself as a "Non Exec". Having asked what we both do she spoke largely about herself and then said her goodbyes and joined another group. At the end of the presentations my older wiser and more experienced colleague turned to me and said: "Just a word of advice, I found that woman who joined us and then cleared off after 5 minutes pretty offensive. Make sure you remember that."
As we said our goodbyes he said: "I wouldn't expect you to pay me, but if you ever feel you need some advice on running your network referral business then let me know"
Enough said.
Monday, 15 November 2010
Following up after a Pitch
A friend of mine has made four major pitches in the last two months. Each of the contracts he was bidding for had different specifications and therefore he was not able to regurgitate the same pitch four times. He won one of the contracts but lost out on the other three.
The contract he won he was told there and then on the spot. The three companies who did not engage his services behaved in three very different ways.
Company 1. Thanked him for his pitch, left him to find his way out of the building. Informed him that he had been unsuccessful when he called to enquire a week later.
Company 2. Thanked him for his pitch, offered him a drink before he left. Informed him by letter 3 days later.
Company 3. Thanked him for his pitch, received a personal e-mail the same day thanking him again for his presentation and pointing out specific strong points. the e-mail went on to say when he would be informed of the decision. A week later an e-mail telling why he had not been successful followed later by a call form the MD thanking him and expressing a wish to do possible business in the future.
Result. My friend has already recommended this business to a colleague.
The contract he won he was told there and then on the spot. The three companies who did not engage his services behaved in three very different ways.
Company 1. Thanked him for his pitch, left him to find his way out of the building. Informed him that he had been unsuccessful when he called to enquire a week later.
Company 2. Thanked him for his pitch, offered him a drink before he left. Informed him by letter 3 days later.
Company 3. Thanked him for his pitch, received a personal e-mail the same day thanking him again for his presentation and pointing out specific strong points. the e-mail went on to say when he would be informed of the decision. A week later an e-mail telling why he had not been successful followed later by a call form the MD thanking him and expressing a wish to do possible business in the future.
Result. My friend has already recommended this business to a colleague.
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