11 Things A Small Business Shouldn’t Waste Money On

11 Things A Small Business Shouldn’t Waste Money On

Oh, I know. When you start a business you’re so excited and full of enthusiasm. You want to have EVERYTHING you could possibly need to give your business the best chance. And you will happily throw your hard-earned savings at it, willy nilly until one day…you wish you hadn’t!

In the early days you don’t know what’s a good idea and what isn’t. You don’t know what you need and what’s just a ‘nice to have’ (or a ‘don’t actually need at all’). You’re learning as you go and you take advice from everyone, even when it might not suit your business.

Even as we get more experienced in business, we still waste money on things we simply don’t need.

From experience, here are 11 things that small business owners spend money on when they really don’t need to. This isn’t to say that you should never spend money on these things – many of them work brilliantly, however the cash is better in your pocket while you’re building your business. Cashflow and lack of working capital is one of the main reasons small businesses fail – they spend all their money on fluff and guff and ‘looking good’ and then run out of money.

[Tweet “The frugal approach is definitely best in marketing – not just for start ups but for everyone. “]

Think twice before you start to spend your carefully-saved money on things that really aren’t going to bring a return. What are the main culprits? Here, let me tell you my thoughts, but this is not an exhaustive list.

  1. An overly-expensive website
    Yes, of course you need a website. Websites are a great way to get found by potential customers. What you DON’T need is one costing several thousand pounds right away (if ever). It’s all about the content. Even a free or cheap website can drive enquiries and sales brilliantly if the content is right. The trick is to work out who is most likely to buy from you and aim your marketing at them – including your website. There’s no point trying to attract people who are realistically never going to buy – write your website for those people who are a great fit for your business and include the information THEY need to be able to make a buying decision.
  2. Unnecessary advertising
    New businesses get bombarded with deals and offer from newspapers, websites and magazines almost from the day they start up. Your challenge is to resist the deals. Remember in #1 where I talked about the person who is most likely to buy from you? They are your ideal customer and unless the publication or website in question is specifically aimed at your ideal customer, say NO. If it’s not going to reach the people who are most likely to buy, don’t buy the advertising. You can use that money for something else.
  3. Premises
    If you’re working from home and you’re hankering after a workspace of your own, renting premises can look really appealing. The thing with renting a room or a building, though, is that there is usually a fairly long contract. Not only that, you’ve then got to furnish it, get internet installed, maybe contribute towards rates and service charges. Before you know it, your modestly priced room has turned into a monster you’re stuck with for 6 months or a year, or longer. If you can get away with working from home, do it for as long as possible. I still work from home and I LOVE it, I wouldn’t have it any other way. See if you can jiggle things around at home to accommodate you – can you take over the spare room, get an insulated garden shed, camp out in the conservatory. Keep your costs down for as long as you can – then, when you know your business is healthy and paying you and making a good profit, THEN think about committing to premises.
  4. Promotional items and flyers
    It’s so tempting to buy a boxful of fliers, 500 business cards, a few hundred pens, coasters and mugs because they look beautiful and you’re so in love with your logo. However, that money could have been part of your salary. It could pay a tax bill. Far be it from me to rain on your parade but unless you have a specific use for these things, don’t buy them. By all means get a branded hoodie to wear, that’s a great talking point and good advertising. The rest can wait. Get 50 business cards and see if you use them. Leave the pens, mugs and coasters until you can justify them. Unless you’re planning on doing a carefully-thought-out door drop in a really, really promising neighbourhood, there’s a good chance that box of fliers will still be acting as a door stop this time next year.
  5. Membership of expensive networking groups & associations
    You may think that it’s absolutely essential to join certain networking groups but think long and hard before dishing out your hard earned cash. Some groups can cost you around £1000 per year – how likely are you to get that back? I remember when I started out, I paid out for the Federation of Small Businesses, The Chamber of Commerce and a whole load of other organisations because I thought I should. In actual fact I didn’t get a single piece of business from either. I did, however, get business from my local business club which cost around £50 per year and put me in front of people who were likely to buy from me – my ideal customers.
  6. Tons of stationery
    My name’s Claire and I’m a stationery addict. I remember getting my hands on a stationery catalogue and ordering folders, binders, calculators, envelopes, before I knew it I needed a special cupboard just for the stationery. A few years on and I’ve still got most of the darned things left. I never used them. What I do allow myself these days is as many pretty notebooks as I want, because I use them all the time and give them away to clients. Keep it simple. Don’t spend loads of money on stuff you don’t need. Buy what you need, when you need it, in small quantities. When you find you’re running out often, then bulk buy but not until then.
  7. Expensive software
    It’s so tempting to think that you need the Pro version of this, and that really expensive database system that the big brands use but do you REALLY need it? I’m thinking not. Make do with free and low priced options for now. Use trial accounts to make sure you can’t live without this particular piece of software. I can usually tell after 3 weeks if I’m going to stick with something. Software is just a tool. It doesn’t make your business better. It might save you some time or make a job or two easier but there are so many great budget options out there for almost every job, from task management to accounting, email marketing to social media management that you really don’t need to invest loads.
  8. Company car
    Hands up if you’ve thought about leasing a car through the business, or decided that there is no way you can show up to business meetings in your battered old Ford? You’re not alone. So many people think that they *should* have a better car because it reflects on their business. In truth, the only thing that really matters in your business is the product or service you provide, and how good it is. Customers don’t care if you have a beat up car if you are brilliant at what you do. They aren’t going to think any worse of you, so don’t go spending a whole lot of money on something that really doesn’t help your business at all. Save up, buy a little car outright – if you lease one, you’ll get hit by loads of tax. It’s just a car and the best car in the world won’t fix a bad business model. Focus on your customers and your business offering THEN when you’re making loads of money, treat yourself to a car just because you can.
  9. Franking machines
    Oh my goodness, the amount of businesses I see taking up offers and deals on franking machines that, frankly, don’t get used (did you see what I did there?). You don’t need one. You don’t need one! Just go to the post office.
  10. Trade shows
    I get so sad when I see ailing businesses spending thousands on trade shows that just don’t bring in the business. The truth is that it’s not just the cost of the stall at the show, it’s travel, accommodation, food, stuff to decorate the stand, freebies and time away from home. Trade shows can turn into a monster. And how many things are you going to have to sell to make THAT money back? It’s eyewatering. Try being a visitor at trade shows for a few years. Make your contacts there. That way you save loads of money and aren’t tied to a stand all day. You can still suss out who you need to speak to, you can get advice from other stall holders and you can save your money. You don’t NEED to be there. There is always another way.
  11. Sponsorship
    Whether it’s a tee on the local golf course, the local football team or carrier bags for the dogs home, sponsorships are everywhere and they are very rarely a good business decision. If you are sponsoring a tee at the golf course then really, unless you’re specifically targeting middle aged male golfers, you’re wasting a whole lot of money. Yes, they might all need an accountant but they are playing golf! They might be on a business golf day but then they are talking about THEIR business. It’s unlikely you’re going to get a return on your investment. Sorry. If you’re doing it as a kind gesture and to help out a local project, that’s fine – just don’t convince yourself it’s a business investment!

So be frugal. Save your precious cash for when you need it. It’s FAR better to make do and save your money in the early days and work out what you really need as you go along – I promise you’ll kick yourself if, a few months down the line you can’t afford something you REALLY need because your money is tied up in stuff you’re not using. What did YOU waste money on in your business that you just didn’t need or could have done without? I’d love you to share in the comments!

Are You A Premature Quitter?

Are You A Premature Quitter?

I had a question recently in one of my Facebook groups from a lady with a coaching business. She was frustrated, worn out and about to quit.

Why?

She had spent the last few weeks in a marketing frenzy. Her new business is about to launch and she’s been full of passion and enthusiasm about her new ‘baby’ for the last few months.

She’s been all over social media, she’s been writing press releases, she’s been building her database and sending out fabulous e-newsletters, she’s been guest blogging and webinar-ing and speaking…

She expected to be inundated with clients by now.

But she isn’t.

And she’s ready to lie down and give up.

So I had a chat with her.

The Truth About Marketing

She needed to know the truth about marketing.

I explained that marketing can take 3-6 months to bear fruit. (That’s a long time. So if you want clients in 3-6 months you’d better start marketing now.)

I told her that her Super Customers are only just getting to know her. 2 months is NOTHING in marketing, she has only just scratched the surface.

I told her that her Super Customers are watching and waiting, seeing what she has to say, waiting to see if she’s a perfect fit for them, reading everything she’s putting out there and when the time is right and they are ready to buy, they will buy.

I also told her that if she quits now, she has done all of this marketing for nothing.

Her Super Customers could be ready to buy right now and if she gives up now they won’t know where to find her.

The thing is, she’ll have done all this marketing and they will be itching to get their hands on what she sells and when they can’t find her, do you know what they will do?

THEY WILL FIND SOMEONE ELSE TO BUY IT FROM!

So all that work will benefit someone else.

Do you want that to happen? She didn’t and neither do you.

The darkest hour is just before dawn – the crappiest time often occurs right before a major breakthrough or turnaround.

Don’t give up. Keep going. Keep marketing. It will work.

Don’t be a premature quitter and hand all that business that’s just around the corner to someone else who isn’t as good as you.

6 Rules of Awesome Business Visions

6 Rules of Awesome Business Visions

If you’ve read my Business Secret Weapon and 5 Questions To Help You Create A Cracking Business Vision blogs, you’ll know I REALLY recommend having a vision for your business.

A business vision is a quick and easy way to get you focused, give you direction and stop you making bad decisions down the line when you’re busy. There are some business vision rules I always tell my clients, to ensure that they don’t stay stuck where they are.  These rules help them create an awesome business vision that’s not constrained by their current circumstances – in other words, they need to be creating the business vision of their dreams, not the one from their backyard….

Here are a few rules to get you out of your comfort zone and into a place where you can create a business vison that is worthy of you and your amazing business.

1. Think Big

Go for something huge, impressive, inspiring!

A vision is not a little idea; it’s a great big thing. If you can’t go wild now then you’ll only get smaller later.

Put something really scarily big down as a first draft – if you want to become a millionairess and own a global chain of handbag shops, now is the time to write that down. If it’s not pushing the boundaries and making you smile (or giggle) in disbelief then you’re not trying hard enough :0)

What would your business look like if you had a magic wand and got it to where you want it to be? Not thought about it? Well now is the time. Write down any ideas about what your business might look like in 5, 10, 15 years and see which ones appeal. If none of them do, then that will give you food for thought!

2. Be YOU – Write From The Heart

This is you, your life and business. It’s about your desires, wishes, dreams and hopes for the future. It’s written for you – nobody else.

No one has to believe it or approve of it other than YOU so if it gets you excited, that’s perfect. Even if it contains things that other people have told you that you shouldn’t or couldn’t do!

You make up the rules. If Richard Branson had done things by the book, or Anita Roddick then two of the world’s most inspiring companies might never have existed. And who knows how many other amazing companies never came into existence because they were trying to follow the ‘rules’.

3. Be There

Imagine yourself in that place in the future when you have ‘made it’. When your business is exactly how you imagine it could be. Think about how it looks, who you’re with, what is around you, where you’re working from and who with, who you’re selling to, buying from, what you’re charging. Get real (in an unlimited sense!). This is the quickest way to get you there. The more ‘real’ you can make it, the more likely it is to happen because your thoughts and actions will work between now and then to get you there in person.

4. Be Quick!

Don’t agonise. Don’t wait for the ‘right moment’. Don’t sit and think. Don’t wrangle or get frustrated. Just write for 30 minutes and then stop. Don’t edit and don’t beat yourself up. However unbelievable (for now) the stuff is that you are writing, keep going because it will all make sense in the end.

Write everything down because the things you didn’t write might end up being the most important bits otherwise. Don’t be restricted by convention, don’t think about constraints, what’s happened to other businesses like yours, or anything negative. Just get your business aspirations, hopes and dreams down on paper now. If you need another 30 minutes then go for it but do it NOW!

5. Mix it Up!

Your life vision will include stuff out of your business vision and vice versa. It will all blend together because the two are interwoven. Put your passions into both and see how your energy lifts as you describe your vision.

6. Get that vision up on your wall.

Tell anyone who asks that this is your vision and you’re working on achieving it. Tell yourself that you are already on your way – it is yours to have and you can think about what it felt to be ‘in’ your vision when you were doing your initial brain dump. It’s yours for the taking.

It’s worth the effort, I promise – the clarity, inspiration and excitement you get from articulating your vision will keep you going on your most challenging days and the act of articulating it means that you’re already on your way!

This will be invaluable when you’re feeling emotionally battered (yes we all have those days).

Being a business owner is tough, and being a woman business owner usually means that we’re juggling a whole load of other commitments while still working on building our amazing business. Your business vision is your light at the end of the tunnel. Your holy grail. And imagine how amazing it will feel when you have to create business vision #2 because you’ve achieved it all. Yayyyy!

5 Questions To Help You Create A Cracking Business Vision

5 Questions To Help You Create A Cracking Business Vision

As you’ll know if you read my Business Secret Weapon Blog, having a business vision is a GREAT businesss decision. It gives you focus and clarity, it helps with decision making and it stops you getting sidetracked and distracted when life takes over.

Hopefully you’re convinced of the need to have some, so let’s get down to business and get that business vision started.

Here are five questions that will guide you through creating your business vision and prevent the ‘mind blank’, writer’s block and overwhelm that hits us when we’re faced with a project like this. They will help you create a CRACKING business vision that will get you motivated and focused and help you make loads more money.

1. What Does Success Look Like To You?

Think about it. How will you know when you’ve ‘made it’? For me this has changed as I’ve grown my business. Initially it was to have a part time business making 100k. I achieved that, so now it’s about the number of women I can help, about the income I can create and the time I can free up.

Describe YOUR idea of success: Use your imagination, instincts, and/or intuition to express your “big picture”. In other words, describe what it will be like when you have reached your ultimate business success goal.

You might want to create a business that you can sell on in 10 years that will fund your retirement. You might want something that you can hand down to your children. You might want to create a million dollars of income and then retire.

Write down what you want your business to become but make sure you include some big numbers that you can measure – turnover, income, profit, number of customers or whatever.

This is not your business plan– but you can use your vision to help populate your business plan and marketing plan because your vision is your destination, remember?

So with that in mind, fill in the details. It’s this thought process that will shape your business from now on and don’t let doubts cloud your vision.

When I have used visioning with clients, the outcome can be wildly varied. On more than one occasion, when we’ve got a little way through the vision process, the client has realised that the business she’s describing is not one that she likes or wants! This happens!

And it’s important to embrace this because it could stop you wasting time on something that is never going to work for you.

Better to think about it now than several years down the line. Think through the details and see how it feels and if it isn’t working, change it now!

2. Why Is Success Important To You?

Why do you do this?

  • Why is it so important to you?
  • Are you trying to make your life and that of your family better?
  • Are you trying to get out of a job and go self-employed full time?
  • Are you trying to help your community?
  • Is it make or break otherwise you have to go get a job again?

What’s the driver behind you having your own business?

3. What Difference Does Your Business Make?

What difference do you want to make to your customers?

  • What do you want to bring to the world?
  • Do you want to make life easier for mums?
  • Help kids have more fun learning?
  • Help businesses to fulfill their potential?
  • Make women feel gorgeous and get their self confidence back?
  • Help them create a beautiful home?

It doesn’t have to be big and life changing but there will be a reason (or several) why this business will make a difference to the world

4. Who Is Your Ideal Customer?

Who is most likely to buy from you? Who gets you? Who would you love to work with? Who’s a really good fit? I have podcasts and blogcasts dedicated to helping you get really clear on this but for now just think about what sort of individual or business they are, where you might find them, what problems you solve for them, they should all be easy to answer and you will DEFINITELY have one even if you haven’t sold to them yet.

5. What Are Your Milestone?

What are the achievements that you want to reach along the way that will show you you’re moving forward? For me they were each time I paid off a credit card or loan. They were each time I took a holiday. They included beign able to afford Infusionsoft as a business tool.

What are they for you? They might be to do with leaving your job to go full time on your business, or having an annual vacation. They might be to do with levels of income or free time. They might be related to covering school fees or buying a new car. They might be smaller milestones like getting a website done or working with a particular customer or client. They are personal to you and your business and they will keep you on track when you’re feeling lost or overwhelmed – write them down and tick them off as you achieve them – which you will!

 

Your Business Secret Weapon

Your Business Secret Weapon

If you thought I’m going to share a snazzy tool or swish new piece of software, you’d be wrong. If you were hoping for a ninja-esque approach to marketing, you might be disappointed. BUT what I’ve got is much better than any single tool, tip or bit of software. My business secret weapon will set your business off on the right path (the one that leads to money and happiness) and will keep it on that path, despite obstacles, barriers and temptations designed to lead you astray.

What the heck is this thing?

Well, it might sound tame, but my business secret weapon is a Business Vision.

I know, it sounds pretty innocuous and even a bit tree-huggy (not that I’ve got anything against tree huggers, I love to hug trees, too) but it’s actually the opposite. If you like a bit of woowoo then this will work for you – it helps you to set a really clear intention that will supercharge your manifesting. If what I just said sounded like hippy speak to you, and you are a much more practical kind of girl, then it’s still great news because this will work for you too. It will keep you on the straight and narrow and it will be the quickest path to success and riches.

And yes, we’re still talking about a business vision. Let me explain. A vision is what gets you up on a morning. It’s what gets you through the bad days. It’s what keeps you going when people put you down. It’s what gives you energy when you’re so tired that you feel you can’t go on, but you do.

A vision is what makes the difference between having an OK business and an amazing one. It’s what will help you double and triple your business. That’s why I start all of my coaching programmes with it.

Why do I Need a Business Vision?

One thing all successful business owners have in common is that they have a vision for their business. And sadly the BIGGEST REASON by far why many women business owners never achieve the level of business they want is that they don’t have a business vision.

[Tweet “A successful business owner starts with her end results in mind. #tgmb #bizitalk”]

Her vision is higher—more prominent and powerful—than any obstacles she might come upon in her journey to reach her ultimate goal. This is why your business vision is perhaps your most important tool for success. There’s a great quote by Mohammed Ali that says “Champions aren’t made in gyms. Champions are made from something they have deep inside them – a desire, a dream, a vision. They have to have the skill, and the will. But the will must be stronger than the skill”

[Tweet “Having the WILL to succeed is more valuable than having the SKILL to succeed #tgmb #business #success”]

What he’s saying is that you don’t have to be the best at what you do to be successful. It’s about having that powerful vision and the determination to succeed, much more than being the best beautician in the world, or the best trainer or photographer. That is WONDERFUL NEWS because it means that any of us can be successful. You can be successful.

You can build the business of your dreams.

I have a number of female business owners that I coach and mentor and when I start working with them I ask them what their business and life vision is, their medium to long term plan, and they often look at me with a mixture of confusion and mild panic.

So I say to them “why are you doing this? What was your dream? Why did you set up your business in the first place? What did you want to get from it? Were you looking for a job that fits around your family? Were you looking for something which will give you a retirement option? What did you have in mind when you set up and what are you aiming for now?”

I’ll be honest. It’s quite rare that I get a confident, definitive answer from my female business owner clients first time around. They mostly set up in business because they want control over their life, they want to earn a living by doing something they love and not be restricted by the constraints of being an employee. They don’t really think much further ahead than just covering the bills as soon as possible.

But pretty soon they are so overloaded and overwhelmed with work, clients, family, and other commitments that they just plough on day to day, keeping their heads down, booking parties, opening the shop, seeing clients, making sure they hit their deadlines and appointments, and rarely looking up.

They are usually really busy with hardly a moment to spare, but they are always short of cash and there are never enough hours in the day. They think to themselves “it’s okay, all I need is a few more clients or more customers and it’ll be fine, I’ll fit them in somewhere along with the marketing and paperwork and then I’ll have the money I’m missing.”

By this point, they have lost the joy they experienced by having their own business, they can’t remember why they are doing this and they are seriously wondering whether they ought to go and get a job again!

Does this sound familiar? If this is you, then you’re not alone. Many people set up in business without any kind of target or end goal. If they had a business vision they would know what they are aiming for and it would keep them going through the challenging times.

The Perils of Having No Business Vision

If you don’t have a vision for your business then you’re doing it the hard way! Business owners that don’t have a business vision:

  • Often have no idea whether they’re doing well or badly
  • Don’t know whether their business is profitable and to what extent it might be profitable
  • Don’t know whether they are doing better or worse than in previous years, other than some kind of gut feeling and a vague sense that they might have more money to spend this year.
  • Have no measurement in their business and they have no direction.
  • Don’t know if their business is scalable, or whether it is ‘sellable’ in the future and
  • Don’t know if the future numbers stack up.

If you don’t know what you want to achieve with your business and what you want it to look like in a few years, how can you make decisions about it? How do you know if you are moving your business forward through that decision or holding it back? You can’t hit a target that doesn’t exist! If you don’t have a vision for your business, how can you make marketing decisions?

[Tweet “You can’t hit a target that doesn’t exist! #business #tgmb “]

Let’s turn that on its head.

If you DO have a vision for your business you are very clear about what you’re trying to achieve and by when. This in turn means that you can make decisions based on whether you think it will take you closer to or further away from your vision. If you DO have a vision you will be able to work out who your ideal customer is – it will be the one that brings you closer to your vision.

If you are not clear on your vision and ideal customer then this is probably quite tricky for you.

How do you know what constitutes GOOD business? Or BAD business? Not all business is equal but the gist of it is that some customers or clients are bad for your business. They take you further away from your big vision as opposed to closer to it.

Let me give you an example:

I have a client who is a marketing consultant. Her vision is to create a £100k turnover business working with large corporates, helping them with tricky employee engagement challenges. She has already had one of these projects and she’s spotted a gap in the market for her business – these are her ideal clients, they pay well and they need her.

So if a small café comes and asks her to help them with their marketing, she knows straight away that this doesn’t fit with her vision, it’s not going to get her closer to her vision.

Once upon a time, not so long ago, she would have taken on the work because she doesn’t like to say no and she would have hated turning down work. These days she tells them that she’s really a big company specialist and she refers them on to a couple of small business specialists she knows.

Your Business Vision

Having a vision makes a really tangible difference to the way you run your business. Can you see that you need to understand what you want to achieve from this business or you will not be able to make decisions based on that goal, and you won’t know if you hit it?

This is really, really important.

I believe that this is the key to fulfilling your potential as a woman in business. It is the only way that you will be able to get that laser focus that propels you forward and helps you to achieve all of your goals and dreams.

[Tweet “You can’t get laser focus with blurred vision. #tgmb #bizitalk”]

So I want you to think about your business, whatever business you are in. I want you to think about your business vision – I mean really think about it, and answer these questions:

  • Why are you running your own business?
  • What do you want to achieve with it financially and otherwise?
  • What are your business’s BIG numbers – the targets that you want to achieve (turnover, profit, units sold, etc) and by when?
  • Who is your ideal customer – the one who is a great fit for your business and takes you closer to your vision?

I don’t care if you’re selling jewellery through home parties, or you have a gift store, a website selling paintings, you’re an HR consultant or you do Angel card readings for a living. If you don’t know where you are going, how are you going to get there and how will you know you’ve got there? Without these big targets, or business objectives, you’re just coasting aimlessly and that’s a waste of time and energy. Who’s got time and energy to waste? Not me! I need all the time and energy I can get!

So, you get the message. If you don’t have a vision for your business, now is the time to change that. In our next blogcast episode I’m going to show you a quick and easy way to get your vision out of your head and onto paper, even if you don’t have an artistic bone in your body.

Happy visioning!

Do You Need The London Cabbie Approach To Business?

Do You Need The London Cabbie Approach To Business?

I was chatting to one of my VIP coaching ladies the other day and we decided that she needed to exploit an opportunity that appeared in front of her, even though it wasn’t part of her original plan.

It wasn’t a full-blown rebrand or anything like that, just changing the focus of her business to target a specific type of woman entrepreneur whom she’d previously not considered. She literally needed to change a few words on her website and swap her list-building freebie for something slightly different.

And this quick, simple shift in focus means that all of a sudden, she can target a big group of women within her existing networks who would LOVE to hear from her because she can teach them how to build a business that lets them travel or even move abroad, if that’s what they want. It’s a market that is waiting for her to teach them.

We both knew it’s a no-brainer but she got a major mind-monkey attack. Her fear was that all of her previous work had gone to waste, that she’d wasted all the time and money and energy she’d spent on her business until so far. She felt like she’d somehow be betraying herself if she changed focus.

So I had to get her to understand something.

Running your own business, especially when it’s just you plus maybe a couple of helpers, is a strange and unique situation in which to find yourself. Unlike a big corporate, you don’t need to plan 5 years ahead. You don’t need to enter into lengthy contracts and you don’t need to stick to what you thought you were going to do last week.

It’s your business. So you can do what you want.

I call it being able to turn on a sixpence. It’s what London cabs can do. Time is money for London cabbies – they need to be able to deliver one passenger and turn around quickly, with the minimum of fuss and WITHOUT complicated 3-point turns. They can literally spin around in a tiny turning circle, otherwise know as ‘turning on a sixpence’. It’s a brilliant thing to be able to do because it means they can change direction in seconds if they hit a traffic jam.

Do you know the best thing?

You can do this too! You can adopt the London Cab approach to your business. How?

Well, because your business is small, it’s also agile.

You can change direction now. If you hit a metaphorical traffic jam or dead end, you can change direction immediately.

[Tweet “Your biz can turn on a sixpence because you’re tiny and agile”]

And that’s a scary thought for lots of people.

They fret because they don’t want to waste money they’ve spent, or lose time and effort they’ve put in. They stay stuck in a business that’s not working because they are scared to admit that something needs to change. They feel committed to ‘giving it one more try’ even when better opportunities are staring them in the face. They keep doing things the way they’ve always done them because it’s too late to change. Except it isn’t.

The thing is, they could be using their tiny-ness and agility to their advantage.

  • Being tiny and agile means you can change the focus in your business today if you feel that it’s not working.
  • Being tiny and agile means you can spot and seize opportunities that bigger companies would have to overlook because it would take them too long to change their processes.
  • Being tiny and agile means you can decide that you’re going to do things differently, starting now.

I do it all the time.

I have a plan for the products and programmes I’m going to sell this year, so that I can work out what I need to promote, when, and how much I expect to make from it. But it’s not set in stone.

I’m tiny and agile so if I decide to drop one of them and replace it with something I’d rather do, I can do it.

Just like that.

Without asking anyone’s permission.

If I spot a gap in the market that’s a brilliant fit for my lovely ladies, I can add in a new product within a couple of weeks. I can change my focus today.

And so can you.

You’re tiny and agile. You can turn your business on a sixpence, like a London cabbie. Whenever you want. Without asking permission. Without feeling like a failure.

So, you tiny, agile little business, you – Now would be a great time to look at your business and see what’s not working – what can you change, today? What can you shift your focus around? Where can you turn on a sixpence? Get spinning, awesome girl!