Finding a way forward for your London business
There's no doubt that the last year or so have been quite challenging for London businesses. Lockdown, facemasks, and Brexit have made sure that being a 'local business near me' means that you might as well be on another planet.
In these circumstances, being even 1-2% better than similar businesses in your area can mean the difference between bankruptcy, and survival.
Get the basics right
If you are determined to succeed, then getting that 1-2% advantage over your competitors often comes down to doing the basics right.
So, let's have a look at some of the things that you can do to gain that advantage. Firstly, plan your weeks and days in advance. Simply put, don't wing it. Efficiency is so important because if you want that small advantage over your competitors, you need to do even the small things well.
Next, find tasks to eliminate means that to survive, you need great time management. So, were there things in your working day that were low on the list of priorities? In that case, eliminate them. Allow time for the really important things that can help you survive.
Another small ingredient that can have a big impact is the issue of writing things down. Missing an order, quote, or other necessary task, can cost your business daily revenue, but it can also mean that your client base will also shrink. So, don't leave things to chance, write it down..don't leave it to memory.
Invest in learning is similarly vital. Many businesses have extra time due to decreased demand. Use that time wisely, become better at what you do. Invest in how to market your business, how to be more efficient at what you do, and, how to communicate better with customers.
Whilst the personal touch is vital for building relationships with clients, automating tasks can help your business thrive. What we mean is not that you automate your client relationships, rather, automate production, and back end tasks that take up huge amounts of time, time that could be used more beneficially.
It is important too not to multitask. Do what you do, and do it well. Multitasking is important when time is a valuable commodity. However, most businesses these days have ample time, so, use that time to become the best supplier, service, or deliverer that that you can be.
The king of putting it all together is organisaton. When you become organised you will find that you get more done, do it better, and, achieve better results.
Also, when organising time, avoid distractions. One, for example, is the constant need to check emails. Yes, you don't want to miss an important order, quote, or enquiry. However, constantly checking emails can take time away, and focus, from the tasks that have already presented themselves, not the ones that may eventuate.
Lastly, measure results, not time. What will help your London business survive is not how busy you are, but, rather, how your bottom line is affected by the results you achieve. Don't waste time on tasks that are really a waste of time!
So, what have we discussed? Doing the basics right is more important than ever before. Your success depends not on how many hours you work, but, rather, on how you use the time that you have.
Become better organised, do what you do better, and, measure your success by the results that you achieve. In this way, you may be one of the businesses that survive, not one of those that becomes a statitstic.