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How to network when you can’t network in person

Small to medium-sized businesses have to go the extra mile to stand out from competitors, particularly when those competitors can afford the best advertising campaigns. In the past we could compensate with networking, by attending conferences, trade fairs, or local groups. Now those options have gone, how can you compete with bigger businesses?

In many ways, the principles of virtual networking and prospecting are the same, but unlike a crowded coffee break, you have to work harder to strike up a conversation. Online you need to build up small talk, such as likes and shares, over a longer period of time.

The best place to network depends on who you need to talk to. People tend to use LinkedIn to sell professional services, but if your target market is people and businesses in your area, you should be able to find Facebook groups covering the parts of the country that you would like to sell to. Instagram and Twitter can be more difficult to network on, so we’ve focussed on Facebook and LinkedIn.

Get your profile right

Use a photo that shows your face clearly, or if you’re very shy, something innocuous. In person we all build rapport by talking to faces, whether we’re good at reading body language or not. When people interact with posts and comments, they’re building a rapport with your photo, so pick an image that you’re comfortable with as your work persona and you’ll attract the kind of people you want to work with.

You should also have a look at your profile as other people will see it and think about what it says to potential clients.

Follow any group administrator rules

When you know who you’d like to interact with and where, you can find and join as many groups as possible on LinkedIn and Facebook. The first rule for any social media platform is to make sure you follow the rules of any group you join. If a group states that you aren’t allowed to advertise your business, be careful about how your posts might appear. You could leave a bad impression if you get told off or banned by group administrators!

It’s still worth joining groups so you can see your competitors, find out what your potential clients are interested in and contact those that you’d like to work with.

Be visible

Whichever platforms you use, it’s best to post regularly. Not posting on a social media platform is worse than being a wallflower at an in-person event, because no one can see you at all virtually.

On LinkedIn and Facebook, the usual advice is that it’s better for your visibility if you write a new post on your own newsfeed, but to build relationships with potential clients, you need to be more generous. Sharing, liking and commenting on the posts of people you’d like to network with helps their visibility at the same time as introducing you to their circle.

Comment sections are a great way to network with people that you aren’t already connected with. They’re a little like small talk in the queue for refreshments, except that you don’t need to find your business cards while holding a coffee. Having had a discussion, it’s much easier to send a message to talk further.

Show them that you’re worth talking to

Since you can’t usually post traditional adverts in virtual groups, being helpful is a more subtle way of advertising your expertise. People won’t read a long explanation and you don’t want to give your expertise away for free, so a brief answer followed by “if you need more help, please contact me” is enough.

Remember to specify how they should contact you, so it’s as easy as possible for them to follow up. If they have to stop and think “did they mean email or private messaging?”, they’re less likely to follow through.

Look for mutual contacts

All of the main social media channels allow you to see friends of friends, or second connections, if those people have opted in. 15 years ago someone might have hesitated to ask a contact to introduce them to a new contact virtually, but it’s normal now that so many businesses use social media platforms for marketing and networking.

Return favours and share goodwill

Offline it can be difficult to make introductions unless the two people you think could work together are in the same room. The beauty of online networking is that it takes seconds to tag someone in a comment and say “this person could help you”. It may seem a small gesture at the time, but every little introduction is a step on the way to success for you and anyone that joins your network.

Business bounce back loan - boy on trampoline

Business Bounce Back Loans

Business Bounce Back Loans – what are they and should you apply for one?

Since the scheme launched in May 2020 (just 3 months ago), more than 860,000 bounce back loans have been issued. This means that thousands of small businesses who are struggling due to the coronavirus have applied for and received financial help; help of which will hopefully get them through this turbulent time. So what are bounce back loans? Here is what you need to know about them including a list of questions to help you decide whether you should apply for one.

Business Bounce Back Loans

While there has been a lot of financial support being dished out due to the impact of the Coronavirus, there are small businesses that can’t access this funding quickly enough; self-employed people who don’t qualify for the Self-Employment Income Support Scheme, and limited company directors who have fallen through the cracks.

For these businesses and individuals, the ones who aren’t covered by other schemes, bounce back loans are a saving grace.

So what are bounce banks loans?

Bounce back loans are 100% government-backed loans which include the following:

  • Loan amount from £2,000-£50,000 or 25% of your annual turnover (whichever is lower)
  • No interest charged in the first 12 months (the Government covers the first year)
  • No repayments needed in the first 12 months
  • After 12 months, all banks charge a fixed 2.5% interest rate/year
  • 6-year loan with no early repayment charges
  • Straightforward application and quick access to funds

Obviously, your business will always remain responsible for the repayment of the whole debt amount, but bounce back loans will provide you with significant support over the next 12 months.

Should I apply?

To help you decide whether you should apply for a bounce back loan, here are some questions for you to consider. If your answer is yes to a number of these questions then you are eligible to receive support.

  • Am I a UK-based business that has been impacted by Covid-19?
  • Was my business established before 1 March 2020?
  • Is this the only support that I am applying for (with the exception of personal support)?
  • Do I need financial help in addition to the self-employment income support grant and universal credit?
  • Do I need to repay existing finance, i.e. lenders?
  • Do I need help to pay investments or working capital for the business – including bills, running costs and wages?
  • Do I need capital immediately (within 24 hours)?

Things to note

If you would like to apply for a bounce back loan, all you have to do is contact a bank directly and fill in a short online application. You will need details of your annual turnover, your account number, the amount you wish to borrow, a copy of your tax return, and proof that your business has been negatively impacted by Covid-19.

In terms of repayments, there are no interest or repayments in the first year but after those 12 months, you will need to make 60 repayments of the amount borrowed. Unlike a personal loan, however, you won’t have fixed payments. Each month, you’ll repay 1/60th of the capital plus the interest that has accumulated that month. This means that the amount you owe will decrease over time and in turn, your repayment amount will decrease too.

If you would like to know more about the Business Bounce Back Loans book in a no-obligation free meeting TODAY!

How to deal with nit-picking clients

How to deal with nit-picking clients who are asking for a discount

Are you finding that some of your clients, some who have previously been good clients, have suddenly become quite fussy? Maybe they have been getting obsessed with the tiniest of mistakes when previously they would have just breezed over it, or maybe they are finding new issues that have never come up before. Whatever problems that are arising, here is how to deal with nit-picking clients, especially if they are asking for a discount.
Why postet note

The global pandemic has caused a considerable amount of stress. Some obvious, such as financial and health problems, and some not so obvious, emotions that can bubble and brew under the surface affecting our daily lives without us even realising.

As you can imagine, the net result of 3-4 months of anxiety and stress is starting to take its toll and people are trying to take control of what they can to ease some of that pressure.

Finances is a big one. Many people are worrying whether their businesses will bounce back, whether they’ll have a job to go back to, and their financial future, and to try and take control of this, many are now looking for that discount where they can. They are looking to shed overheads and for any opportunity to lighten the pressure of such a tight cashflow.

If you have clients who are asking for discounts, who are highlighting mistakes that you’ve made or who are trying to get more out of you, here are 3 things that you should do:

  1. Apologise – if you’ve made a mistake, acknowledge it. Put your hand up and own it and reassure them that you are investigating how it happened as well as putting in the necessary measures to prevent it from happening again.
  2. Offer additional value – don’t offer a physical discount, unless you’ve made a mistake that is of great magnitude. Always look to offer extra value instead. Is there any other way that you can help your client? Is there an add-on or service that doesn’t require too much from you that you can offer to the client for the same price?
  3. Listen and empathise – with how stressful it’s been, everyone is having a difficult time in their own way and they just want someone who can empathise and acknowledge this. If you can show them that you care and maybe even help them to see that this small mistake or issue they see is causing no material loss to them overall, that might be all they need.

Discount

It’s a difficult situation to be in, to have clients asking for discounts, but be strong. You are providing a service and you deserve to be paid for that service. It might only take an apology or for you to show your client that you want to help them in other ways.

If you start offering discounts, you will start training your clients to ask for discounts every time they see a mistake or if they’re not completely satisfied. Appeasing them now will only cause further issues for you down the line, so offer additional value and listen to their worries. They’ll soon start to value what you’re doing for them and you’ll be remembered for it when you need it most.

Businesses Need To Reinstate VAT Direct Debits

The deferral of VAT payments due to coronavirus comes to an end on 30 June and businesses need to take action to reinstate their direct debit mandates.

The Institute of Chartered accountants in England and Wales (ICAEW) Tax Faculty has reminded its members.

The VAT payment deferral means that all UK VAT-registered businesses have the option to defer VAT payments due between 20 March and 30 June 2020 until 31 March 2021.

However, ICAEW is reminding businesses that they need to take steps to reinstate their direct debit mandates so that they are in place in time for payments due in July 2020 onwards. Any outstanding returns should be filed, and three working days should be allowed to elapse before reinstating the direct debit mandate.

HMRC will issue guidance on the end of the VAT deferral period very soon but, to be effective, direct debit mandates usually need to be set up three working days before a VAT return is filed.

We cannot set up direct debit mandates on behalf of our clients; the business needs to set up the mandate through their business tax account.

HMRC has confirmed that it will not collect the outstanding balance of deferred VAT when the direct debit mandate is reinstated. HMRC has made the necessary systems change to avoid this happening for businesses in MTD for VAT.


Click here to find out more

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Supervising trainees remotely

With the changes in working practices COVID-19 has caused and the likelihood that many people will be working remotely for the foreseeable future, it is also worth considering how this impacts on the trainee experience and their supervision.  To help with this, we have compiled some tips and ideas on how you can effectively supervise your trainee and continue to give them a meaningful learning experience whilst working remotely.

Part A: Supervising Trainees

Tip One – ‘drop in clinics’

A key element of the learning experience for a trainee is the ability to ask questions as they go along.  When working alongside a supervisor and team, this is as simple as turning around and asking that question when it crops up.  However, remote working can make this extremely difficult as you can’t see if someone is available to ask that question.  Setting aside time each day (perhaps early morning and post lunch) for a 15 minute ‘clinic’ with your trainee gives them clear times (and permission) to call you with any questions they may have and not feel they are interrupting.

Tip Two – Break work down into smaller tasks

When allocating work to a trainee, depending on their level of experience, it may be beneficial to break the work down into smaller tasks.  Rather than asking them to draft a recommendation, break the task down into firstly conducting the research, then discussing what they have learnt before finally producing their recommendation

Tip Three – New skills

Working remotely and social distancing has resulted in new ways of working that are likely to stay with us.  These ways of working involve new skills (such as running virtual meetings, presenting live webinars and workshops, interpreting a client’s mood without being in the room with them, self discipline and time management) that will be essential for a trainee to develop (as well as the rest of us!).   Ensuring that time is set aside to help a trainee develop these skills will help to enhance the learning experience.  In addition, as many are already more tech savvy than some of us, they may also be able to teach us a thing or too!

Tip Four – Separate wellbeing catch ups and work-focussed meetings

Setting specific time aside to discuss the wellbeing of your trainee that is separate to the normal catch up to discuss progress against objectives and upcoming work will ensure that both are covered on a regular basis and gives your trainee permission to discuss non-work related matters that could impact them (and ultimately their performance).

Part B – Enhancing the trainee experience

Tip One – Encourage trainees to chat

They probably already have their own WhatsApp group and/or other means of staying in touch, but encouraging this from a learning (sharing experiences and ideas) as well as a wellbeing perspective adds value to the trainee experience.

Tip Two – Team meetings

As mentioned previously, running virtual meetings as well as presenting remotely are new skills that would be beneficial for trainees to develop.  Consider how you can use team meetings as a safe place for your trainee to start developing these skills.

Tip Three – Project work

Either as an individual or as a cohort, giving your trainees a business-related (and real) project or projects they can work on and own not only enhances their experience as trainees but can also have a real benefit to your business.

Tip Four – Get their feedback

Whilst many firms traditionally bring their trainees together once (or twice a year) to get their feedback on experiences (as well as for additional learning, creating a sense of belonging etc.) you may wish to consider a more frequent feedback  and idea collation mechanism that ensures current views are captured and your trainees feel listened to.  You never know, they may come up with a suggestion that has real impact on your business!

For any additional advice on supervising and developing your trainees remotely, our team is on hand to help.  If you have any thoughts on the  above or any suggested additions to this advice we would be delighted to hear from you.

Team of hands

8 Key Principles to lead your team and enhance performance

Whether leading in person or virtually, there are 8 principles that you can adopt to improve team performance. Many organisations are adjusting to remote or virtual working and the majority of managers have no training in how to manage staff that aren’t physically in the same office, which impacts on team performance.

We’ve produced separate guidance on managing a team remotely, so for now we’ll focus on how to lead, in or out of the office.

1. People don’t set out to be poor performers

The majority of people have good intentions and don’t want to be poor performers. There are 3 factors to consider before deciding on someone’s performance:

  1. The situation or environment that they’re working in
  2. Organisational culture
  3. Leadership

2. We get the team we deserve

The culture of a firm is shaped by the worst performance that a leader will tolerate. If a leader is too busy to notice or wants to avoid talking to a low performer, other team members will take note.

In general, it’s good practice to speak to all staff on a regular basis regardless of performance. That way, if a high performer slows down, you’re already aware of what might be behind it e.g. illness, caring for dependents etc.

If you haven’t been having regular conversations, the first step is to establish what’s going on. At the moment Covid-19 is the most obvious cause, since we know many people have had problems with things like access to broadband, a space to work, sickness and childcare. You may not be able to solve all problems, but you can fix some, if you know about them.

3. How your team perform is your responsibility

At first glance this seems unfair. Surely an adult is responsible for their own performance? But leaders are there to set priorities, ensure everyone has the information and tools to get on with their jobs and maintain a culture where staff are able to discuss anything else they need to get things done. For example, if a leader doesn’t give a clear explanation of what needs to be done and then creates an environment where no one can ask more questions, a member of staff could deliver something different, or spend a long time trying to guess what is wanted.

There is also a risk that if you tell staff to set their own priorities, they might not have the same vision for the business as you do. As a leader, you need them to follow your plan.

4. If someone is a long-term low performer, then you haven’t lost anything if they leave

It can be difficult to sit someone down and tell them that they aren’t performing well. If you’ve gone through the process of discussing their circumstances and the environment you’re working in, then thought about whether your organisational culture and leadership could be an issue and still have issues with performance, you’ll know that you’ve tried everything possible to resolve it informally. Many businesses rush to consult an HR specialist, before speaking to their employee, which can create unnecessary resentment.

5. We underestimate how much we actually know and how long it takes someone else to do it for us

When delegating a task, we tend to underestimate how much we know and how long it would take for someone else to take over, so when someone first starts a task they may look too slow. It’s frustrating when you’re busy, but delegating successfully does mean spending time creating detailed instructions. If you prefer not to write, or struggle to remember what you didn’t know when you first started working on the job you want to delegate, you could try recording video tutorials, explaining what you’re doing and why.

6. Everyone has a learning curve and no one is a mind reader

As mentioned in point 5, we have to make allowances when someone is carrying out a new task. They may have questions you haven’t thought of, or not understand why you’ve taken a shortcut or used a particular method. A little investment in time in the early stages will save time in the long run and you should see an improvement in performance as they get more practice.

If you’re concerned that staff are coming to you with the same questions, or are moving too slowly, a coaching approach is useful. Rather than giving answers, you could ask “what have you thought of or tried?”

7. Hire for attitude first, experience and skills second

No one can predict what might affect your employees in the future, but you can reduce the risk of low performance by getting the hiring process right. Companies tend to focus on the qualifications and experience that a potential employee has, but it’s important that their values are aligned with your business. For example, one business may value creative problem-solvers, while another needs people to solve problems by following set processes.

8. Making it always safe to talk to you is what makes a great people manager

Everything is tied together by communication. Leaders need to know what’s going on and what might affect productivity, not just what the output is. Two things that are highly effective, but often forgotten are:

Know when to apologise – if you see something’s gone wrong due to unclear communication, it’s helpful to say “I could have been clearer”. It emphasises that you’re open to answering questions where instructions aren’t clear.

Praise where it’s due – recognising good performance publicly encourages the rest of the team and keeps everyone motivated.

Business news update

C19 Business News Update

What’s Going On Now?

As time goes on it is getting harder and harder to keep track of all the Government changes. We have put together this blog to summarise the latest changes.

STAYING ALERT AND SAFE (SOCIAL DISTANCING)

Everyone’s actions have helped to reduce the transmission of coronavirus in our communities. Fatalities and infection rates continue to fall.

The government has set out its plan to return life to as near normal as we can, for as many people as we can, as quickly and fairly as possible in order to safeguard livelihoods, but in a way that is safe and continues to protect the NHS. The most important thing we can continue to do is to stay alert, control the virus, and, in doing so, save lives.

This guidance applies in England – people in Scotland, Wales and Northern Ireland should follow the specific rules in those parts of the UK.


Click here for more information

NEW FUNDING CONFIRMED FOR LOCAL AUTHORITIES TO HELP THOSE STRUGGLING FINANCIALLY AS A RESULT OF CORONAVIRUS

An additional £63 million has been confirmed by government to be distributed to local authorities in England to help those who are struggling to afford food and other essentials due to coronavirus.

Local authorities are already working to support those who are vulnerable, and this additional funding will contribute to that work.

Many have existing mechanisms to provide this support in a way that suits the needs of their community. This includes provision of cash payments, food vouchers, or alternative means of support.


Click here for more information

MANAGEMENT OF STAFF AND EXPOSED PATIENTS AND RESIDENTS IN HEALTH AND SOCIAL CARE SETTINGS

This guidance provides advice on the management of staff and patients or residents in health and social care settings according to exposures, symptoms and test results. It includes:

  • staff with symptoms of COVID-19
  • staff return to work criteria
  • patient exposures in hospital
  • resident exposures in care settings

Please note that this guidance is of a general nature and that an employer should consider the specific conditions of each individual place of work and comply with all applicable legislation, including the Health and Safety at Work etc. Act 1974.

There may be further information specific to each country in the United Kingdom, as this guidance was written by Public Health England primarily for an English health professional audience. To see if country specific information is available, please refer to Health Protection Scotland, Public Health Wales, or Public Health Agency in Northern Ireland.


Click here for more information

WHAT YOU CAN AND CAN’T DO FAQs

This guidance has been updated 12 June.


Click here for the guidance

Today is going to be a good day coffee cup

How to stay positive for your family and your team

How to stay positive for your family and your team (even if you are scared and worried too)

Do you run a business where you’re responsible for your employees’ wellbeing? Do you manage a team at work? Do you have children or vulnerable family members who depend on you?

Whether you said to yes to just one or all of the above, having people depend on you, especially during such a difficult time as now, can quickly lead to burnout. If this happens, who will you be able to help then?

To help you stay strong so that you can be there for others during this time, here is how to stay positive even if you’re scared and worried too.

3 steps for staying positive

Step 1: Deal with your fear and anxiety first

You need to let go of the negative feelings draining your energy first before you’re able to feel positive and expend this energy for others. Here are a few ways that you can do that:

  • Seek community and support by talking to friends and family or joining a support group online.
  • Get your news and facts from reputable resources but limit your exposure to news and social media.
  • Plan your daily routine and stick to it to maintain a sense of structure and normality.
  • Prioritise your own self-care and practice mindfulness activities such as yoga and meditation.

Step 2: Train your brain to think positively 

Our brains are wired to protect us, therefore sensing ‘threats’ and thinking ‘negatively’ are often a reflex response. To overcome this, you need to train your mind to think differently. Here are a few ways that you can do that:

  • Believe a positive attitude is a choice and start to focus on positive thoughts.
  • Rid your life of negativity by limiting your exposure to the news and people who think negatively.
  • Practice positivity every day by writing down things that you are grateful for.
  • Look for positivity to reinforce it in your life. You can do this by re-framing things that happen in a positive way (e.g. finding the silver lining).

Step 3: Share this positivity with others 

Only when you let go of negative feelings that are a drain on your energy can you be there for others. Here are some of the best ways you can help others:

  • Check-in regularly and really listen to them.
  • Be empathetic and share what works for you.
  • Help them to be more positive in their lives too.
  • Spread kindness as much as possible and show your appreciation for people with words and gestures.