Tag: soletrader

How do I guarantee the quality of work when outsourcing?

Posted on | by Jade Donno

Do you worry about outsourcing work because you don’t think the quality will be the same as you’re getting now? Do you worry that the outsourcer won’t be in line with your company’s cultural values? Do you worry that you won’t be in control of the process and that you might end up having to do more work checking over what someone else has done?

If you are guilty of losing sleep over one or more of these worries above, then take a step back and open your mind to the possibility that outsourcing work can be a huge success. Your outsourcer may even do a better job than your staff – imagine that! To help ease your quality concerns, here are 6 things that you need to do to ensure that you get the quality you want.

6 must-dos to guarantee the quality of work when outsourcing

  • Invest more in the selection process

Since you’ll be working with the outsourcer you choose, hopefully, for the long haul, you must take the time to select this person/company and ensure that they are a good fit for your projects. Try assigning the same project to 2 or 3 different outsourcers; it’s a great way of comparing the quality of work and deciding who are the best people to work with.

  • Ask them what processes they have in place

A good outsourcer will be able to show you the processes they have in place to ensure you get the level of quality you require and minimal rework. Before you work with them, take the time to ask them about these processes so that you can understand how they will ensure a quality job is delivered on time and how you can keep in control of the process.

  • Discuss how mistakes will be resolved beforehand

Will they rectify any mistakes and make amendments at no cost? Or will this be something that you will need to do on your time? Discuss this in advance so that you both set expectations.

  • Give clear briefs

Sometimes quality may suffer because the outsourcer hasn’t been given a clear or detailed brief. Make sure that you have given them everything they need and confirm this with them before they start the work!

  • Communicate regularly

Regular communication is vital to keep you both aligned to the goals of the project, so make sure that you decide the best way to communicate and when before the project starts. Whether this is via Zoom, Slack or even WhatsApp, make sure you are getting regular progress updates from them and that you’re available if they come across any issues.

  • Treat your outsourcer like a new member of the team

You wouldn’t expect a new member of your team to deliver a top-quality job first time around. After

all, you’d take the time to go over with them exactly what your firm requires, e.g. processes they

have to use and standards they need to achieve. It’s the same when you start outsourcing.

Your outsourced team will need some time to work to your standards and your processes, so oversee the first project and provide feedback. From then on, take more of a backseat but respond promptly when they have any issues or questions, and always give feedback to help them learn what you want.

 

How to get back in control of your workload

Posted on | by Jade Donno

For many of us, Covid has caused a wave of work or we’re experiencing challenges with everyone working remotely and there’s just too much day-to-day work that needs to be done. This is an issue that needs to be nipped in the bud quickly so here’s how to get back in control of your workload so that you can make time to work on the business rather than in it.

3 steps to take control of your workload

If you are spinning multiple plates and you have too much on each plate, you need to take back control. This amount of overwhelm can be difficult to shift, so here are the 4 steps that you need to take:

Without valuable deep-thinking time, you are constantly spending your days firefighting. To take back time (and stop firefighting), see the time-management tips below. Start working smarter not harder.

Get more headspace

You need to know where your business is growing and how you are going to get there. If you have this, then you can prioritise work of high-value and ensure that you have the capacity and resources to facilitate this growth.

Once you have a clear growth plan and a capacity and resources plan, you need to make sure that you monitor and measure progress. Whether that’s a daily huddle, a weekly operational meeting, a monthly leadership meeting, and/or a quarterly one big focus reset meeting, find what works for you and your team to keep everyone on track.

How to get back more time

We are all guilty of working too much within the business rather than on it, but how do we make more time? How do we reduce the time spent on low-value tasks and increase the time we spend on the tasks that will grow our business?

Here are our best time management tips:

  • Do a time audit – where are you actually spending your time? Track what you are doing and how long it takes for 2 weeks. You’ll soon see where your time is being wasted and what needs to change.
  • Plan and prioritise work – which tasks are urgent and which are the ones that will help grow the business? Prioritise these to do first.
  • Delegate effectively – start delegating authority as well as tasks so that you don’t have to micro-manage.
  • Minimise interruptions – when you’re doing high-value tasks, switch off your phone, mute notifications, block out your diary, and work somewhere where you won’t be disturbed.
  • Ditch unprofitable clients – low fee clients are often more of a hassle and take up the most time so let them go.
  • Outsource low-value tasks – this is the quickest way to gain back time and increase your revenue.
  • Hold everyone accountable – even yourself. If you and your team are all held accountable for your tasks, they will get done and done promptly.

Start working smarter, not harder

If you’re overwhelmed with work and there’s just too much in the day to do, every day, take a step back and breathe. What are the goals for your business? What do you need to prioritise to get there? What can you delegate or outsource? What are the tasks that you, and you only, must do?

If you take some time to put these three steps in place – get more headspace, develop a growth plan, and monitor and measure progress – you’ll soon find that you’ll be back in control of your workload and you can spend more time working on the business rather than in it.

 

How to change your Mindset to trade through a recession

Posted on | by Jade Donno

The global pandemic has hit everyone hard, the knock-on effects of which will be ongoing for the years to come. So how do we make it through? How can we keep trading successfully through the recession? While there are many changes and improvements you can make, the most underrated one by far is your mindset. By simply choosing the right mindset, you can not only survive in the recession but you can thrive in it.

How to change your mindset to successfully navigate the recession

It’s very easy to dwell on the doom and gloom when it comes to the current state of the economy, but what does that do? How does that help us to navigate through the recession so that we can come out of it stronger and more successful, and ready for the economic upturn? In short, it doesn’t.

Here are a few ways that you can change your mindset to a more positive one. One that facilitates growth and success in a time where we need it most:

1, Remember that the economy is cyclical

It’s important to remind yourself that the upturn will come. The economy is cyclical. Yes, we are currently in a downward spiral but there’s still business out there. Businesses are still doing business and they are looking for help. That’s an opportunity for you to try and grab some of that opportunity.

Be creative – how else can you offer value? What does your target audience need help with the most?

2. See this as an opportunity to review and improve

It may be difficult to see but the recession is an opportunity to put everything under the microscope and see whether you can do it differently. In some instances, you could even find a way to do things better. This is a massive opportunity for businesses and one that will go as quickly as it has come.

3. Appreciate that recessions are cleansing times

It might not feel like it now, but recessions are cleansing. If you find yourself less busy, is it because you’ve just weeded out the time-wasters? Many businesses have reported that the recession has forced them to focus on what really matters and as a result, they are focusing on their core business and what they are good at. They’ve found that the clients who were producing the most ‘noise’ have gone and they actually have time to focus on tasks that help their business to grow.

4. Reconnect with your “why?”

We’ve been forced to look at our businesses in a different way so re-evaluate. Why are you doing this? What is it that you are doing it for? What does it actually mean? Reconnecting with why you started is a great way to re-ignite the fire. It’s a great way to self-motivate and to start being proactive.

5. Surround yourself with people who support you

The last way to get the right mindset is to appoint a war cabinet. What we mean by this is surround yourself with people that you trust, people who you can lean on and who can advise you to get through this time. If you choose the right people to have around you, who you can vent to and laugh with, and who can lift you up, it’s really easy to choose the right mindset and to make positive changes.

Believe that you can and you will

Mindset is really all about attitude and you can choose it. If you think you can, you can, but if you think you can’t, then you can’t. It really is that powerful.

If you think that you can grow through this recession, you will, not because of magic but because of the decisions you make and all the things that you’ll put in place. So how can you change your mindset during this recession? How can you innovate and offer more value so that you can grow?

If you would like some more advice on changing your mindset please click here to get in touch. 
Or feel free to use our chat box —>

How to get your distractions under control

Posted on | by Jade Donno

How many times are you distracted during an average workday? Once, five times, ten times?

Now, multiple this by 25.

You’ve probably heard this productivity statistic before – that it takes an average of about 25 minutes to return to the task at hand after you’ve been distracted – so imagine just how much time is being lost to distractions every day.

That means distractions don’t just eat up time during that interruption, but they affect your progress afterwards (e.g. that 30 seconds on social media is actually 25 minutes and 30 seconds), so we have to do something about it.

If you need to be contactable via social media and various messaging apps, it may seem an impossible challenge, but here are some tips on how to get the main distractions under control.

For the social media scrollers…ditch your phone and join an online networking group

A lot of us check our social media throughout the day, but there are some that do it frequently enough that it eats into their productivity. So how do you stop this?

The easy fix is to ditch your phone in the day and not have it with you at all. However, if that isn’t possible, consider adding an app on your phone that tracks your usage or limits you from using it for certain apps. Time limits mean you can tell friends and family that you have to spend your time on clients during the day, even if they see that you’re active on any social media channel during the day.

For the web surfers…install an internet blocking tool

It’s so easy to open up a tab and be diverted from a helpful article to a mass of other websites, so how do you knock it off during work hours?

Another easy fix is to install an internet blocking tool on your computer such as FocusMe or Freedom. These applications allow you to block certain websites for set periods of time so that you can still use the internet for work but you can’t get distracted by, for example, news sites.

For the easily distracted…plan a schedule and stick to it

It can be really hard working from home. Having family there is distracting, so many chores are to be done that are on your mind, and that hour for lunch seems to turn into tackling the household “to do” list. If this sounds like you, then you may be the type of person that is easily distracted.

The way to combat this problem is to create a schedule for yourself both for the week and for every day. It can help you see how much you have to get done and it gives you the discipline to sit down and do it. You can be flexible with this, e.g. setting your work hours earlier because you’re more productive, so find your best routine and stick to it.

For the busy fools…collate groups of tasks together

If you feel like you firefight through your days answering emails and phone calls, only to end the day not having done what you wanted, you can end this chaos! Start managing your time by managing your tasks.

What we mean by this is to group similar tasks together. For example, start your day off with a difficult task or dedicate 30 minutes just before lunch to answer all your emails. If you start grouping tasks together, you’ll find your productivity increases because you don’t have to shift your mindset from one task to another all the time.

For the fidgety folk…create a dedicated working space

For the people who can’t seem to sit still, who need to organise their desk every five minutes or who spend too much time gazing into space or at their photos on the wall, usually, we would recommend working from a café. Since this isn’t really possible right now, the next best thing is to create a dedicated working space at home.

Whether that’s in the spare room or in the conservatory, set up a comfortable desk with minimal distractions around you, and preferably, somewhere that has a door that you can close. This will help you to switch on your work mind when you’re in there, and switch off when you leave.

For the bored, overworked or burnt out…take a real break

Last but not least is the overworked. It’s very difficult working from home, especially if you still have your family at home too, so don’t be too hard on yourself. Not being able to concentrate or ‘switch off’ completely can really impact your productivity in the moment and the next day, so give yourself a break.

Make sure to take regular breaks away from your desk every day, go for a walk, and truly switch off at the end of the day so that you can start the next one ready to smash it.

4 ways to recession-proof your business

Posted on | by Jade Donno

Unless you have somehow managed to avoid the headlines, I’m sure you’re quite aware that a deep dark recession is coming our way. In fact, it’s practically knocking on our doors. As if this isn’t bad enough, the knock-on effect is causing issues too; relentless client queries being a big one. So how can we weather the storm as business owners? How can we be one of the ones who come out of it stronger than ever and ready to grow when the economy bounces back?

4 ways to recession-proof your business

1, Change your mindset (and quickly)

Henry Ford said “whether you think you can or you think you can’t, you’re right” and it’s true. If during the recession, you think that you are going to come out of it, then you will. Just make sure to surround yourself with people who support you and reconnect with why you started your business. It will make a positive mindset so much easier.

2. Increase your marketing activity

The temptation is to cut marketing to save on some costs but that will do more harm than good. The recession will show some clients that they aren’t getting the service that they want so how can you expect to win them if you’re not marketing yourself?

Increase your marketing in the right areas. For example, refresh the copy on your website, review your marketing to see what is working the best, send out weekly emails to your clients, call them every month, call prospects who went cold to see how they are doing, and increase your activity on your LinkedIn.

3. Make it easy for your clients to pay little and often

Clients will say they have no money (they are struggling too), but you will find that they do for the right service. If you swap your services for ones that they really need now, they will see you as essential and they will pay for your service. You can also help them in other ways such as switching them over to a direct debit payment method or by giving them a payment holiday on their normal monthly payments.

4. Increase your practice efficiency and reduce your overheads

The best changes that you can make for your business during a recession is to cut your overheads in a way that will increase efficiency. For example, what can be automated or eliminated? Automating certain processes will cost initially but they will increase productivity. The same goes for things like outsourcing and offshoring.

Don’t forget to involve your team in this process. Ask them every week what they think can be improved on and you’ll see that they will have some great ideas.

Another task that you can do which will cut overheads is to get tough with your long-term debtors and low-performers. If you tackle these head-on during the recession, you may find that costs will reduce while efficiency soars.

How to adapt your marketing to turbulent times

Posted on | by Jade Donno

Every business is on a three-step journey: survive, adapt, and thrive. Before COVID-19 hit, many were adapting or had adapted and were thriving, only to be thrown backwards to tread water once it did. With the effects of the pandemic still causing havoc, business owners now need to adapt to move from ‘surviving’ to ‘thriving’ once more. So how do you do that? How does your marketing need to change in turbulent times?

Your clients want to feel supported

One thing is for sure: your clients (and potential clients) are struggling and they have no desire to be sold to.

So what does this mean for you?

While people may not be receptive to the usual marketing efforts and ways of winning business, if you can offer them value and support during this difficult time, you can win some very loyal clients.

Yes, they might not be interested in a pitch, but they’re struggling. Many may be realising that they have been receiving poor service and have been turning to Google and social media to research their needs.

Never before have they been so motivated to do something about these so this is a unique opportunity for you. If you market right, there has never been an easier time to win clients.

Key marketing activities to prioritise right now

  • Invest in ways to quickly update your client base on the changing realities
  • Give your website a COVID-19 refresh
  • Call all of your clients and find out how you can support them
  • Be “there” for them so that you become part of their ‘war cabinet’
  • Help your clients build their strategy to adapt and thrive
  • Reconnect with your old prospects and offer this help
  • Be active on social media and share useful content to boost your credibility
  • Collect the great testimonials that you are receiving throughout the pandemic
  • Plan your clients’ communication and content for the next 1-3 months

Adapt and thrive during the recession

We can all cut costs and budget and prioritise to increase our chances of survival during the recession, but if we want to do more than that, if we want to adapt to the changing times and thrive during the recession, we just need to tweak our marketing.

The recession is an opportunity. It’s a chance to stand out by being credible and being there to support existing clients; it’s a chance to win those clients who are finally realising that they are not getting the type of service that they want. So do that. Use this time to adapt your marketing and you’ll soon see that you start to move from ‘survive’ to ‘thrive’ very quickly.

Getting Started With Outsourcing: the Insider’s Guide

Posted on | by Jade Donno

Outsourcing is becoming more popular as technology propels the business world forward. And why wouldn’t it? Outsourcing manual, low-value tasks allows business owners to focus on better client service as well as those areas that will actually grow their business and keep them competitive.

While these points are completely valid, some professionals still have their doubts about outsourcing; will this affect the quality of work? Will this go down horribly with my clients?

To help ease these concerns, we’ve put together a quick outsourcing guide.

Top 8 Outsourcing FAQ’s Answered

1, What actually is outsourcing?

Outsourcing is when you decide to ask someone, who is not directly employed by you, to complete some work for your business that is usually done by someone who is employed directly by you.

2. What is the typical turnaround time for an outsourced job?

This depends on the task that you outsource and the agreement that you make with your outsourced provider. However, expect to compromise on turnaround time if you’re paying less.

3. What will outsourcing cost?

The cost of outsourcing depends on what model you choose (for example, you could be charged on a per hour basis or on a per job basis). Don’t forget to also factor in any potential hidden costs, such as the time it takes for your staff to review the work.

4. Will an outsourcer do as good a job as us?

Quality is a big worry for many business owners who are considering outsourcing. Like any job, there are no guarantees that your chosen outsourced provider will do as good a job as your staff, but then on the flip side, there’s also no guarantee that they won’t do a better job. Outsourcing is all about trial and error and doing the due diligence to find the right person. You can then put the necessary processes in place to ensure quality work (with minimal re-work) every time.

5. What due diligence should I do on my potential outsourcer?

Outsourcing your client work is a big decision that shouldn’t be taken lightly so make sure that you do your due diligence. The best outsourcers come recommended, but if you don’t have this, ask them; how they will guarantee the quality of work, where they are located, what office hours they work, the best way to contact them and when, and check things like their quality of English and their workflows.

6. How do I get started with outsourcing?

Take the time to talk to your outsourcer to make sure you are 100% happy with everything before moving forward. If you’re not confident or you’re having doubts, outsource just a few low-value tasks first. This will give you the chance to iron out any kinks at low risk.

7. Which clients’ work should I start to outsource first?

To test your outsourcer, start with ‘easy work’ with low-risk clients. Which clients do you struggle to make a profit on? Which tasks don’t take long to complete? Which tasks do you dread doing? If you choose the clients that, if things go wrong, you won’t jeopardise a strong client relationship, this is a great place to start.

8. Do we need to tell our clients that we are outsourcing their work?

It’s good practice, and in some cases, you are contractually obliged, to tell your clients that their work may be done by your outsourced team. This is especially true if you’re using staff outside of the EU as their data could be processed outside of the EU. You can do this easily by updating your contracts with ‘we may use a carefully selected contractor to complete your work’ and ‘your data could be processed outside of the EU,’ and also mentioning this when you engage with them.

Try outsourcing and see what you think

Interestingly when you talk about outsourcing, it produces a strong reaction – often one of fear. But before you get caught up in emotion, it’s worth taking a step back and thinking about outsourcing more generally.

You need to at least try it (with some low-value tasks) before making a solid decision. It may take some time and trial and error first, but when you find someone who can produce quality work for you consistently, you can free up the time to concentrate on the higher-value tasks; the tasks that will grow your business and ensure that you remain competitive.

How to prevent upwards delegation working remotely

Posted on | by Jade Donno

Do your staff members often come to you with questions or problems that they could potentially work out themselves just by using their initiative? More often than not, do you end up saying “just give it to me and I’ll get it done, it’ll be quicker?”

While it might be quicker to do this one task right now, what you’re actually doing is training your staff to be helpless. You’re training them to come to you when they are stuck instead of taking some time to work it out for themselves. Ultimately, this ends up taking up a lot more of your time.

To stop upwards delegation, especially now that many teams are working remotely, here are some quick tips for remote managers.

number 1

remote working requires more frequent and clear communication, especially when it comes to delegating tasks. Give clear briefs and explain the impact this task has on the work of others to inspire action.

Discussing important tasks or projects directly with your employee will ensure that they can ask any questions and you can address any concerns in real-time. It also allows you to set clear expectations and to have them confirm that they understand.


number 3

Monday.com, Zoom, Slack, What’s App…use virtual tools to communicate quickly and effectively with your whole team. Make sure that everyone has access so that they can see what is assigned to who and how they all relate together.

If an employee has an issue or needs help with a task, take the time to coach them through it. Instead of giving them the answer, ask them questions to help them get to a solution by themselves.

number 4
number 5

It’s a difficult time where everyone is craving some social interaction. Plus, who doesn’t love to be praised for good work? If a team member has done a good job or they’ve picked up a task really quickly or they’ve made a difference to your day, tell them. There’s nothing more powerful than positive reinforcement, especially when it comes to motivation.

‘What would you do if I wasn’t here?’

Stop saying “I’ll do it, it’ll be quicker” and start asking “what would you do if I wasn’t here?” Delegating isn’t an easy thing for most managers to do and it’s even harder when your whole team is working remotely, so don’t put even more pressure on yourself by taking on the tasks of your employees too. It may take some time investment in the immediate, but if you coach them through any issues as they arise, you’ll be training your employees to be innovative workers who will take the initiative.

Do you have a scalable business model?

Posted on | by Jade Donno

Nobody starts a business to see it crashing after a couple of years. No one wants their business to stay small forever or to have to throw in the towel when a recession hits. Every business owner wants their business to generate sustainable revenue, one that funds the lifestyle that they want and creates a comfortable future for them. So how do you do this? And how do you know if your business is scalable?

What is a scalable business?

Firstly, to know whether your business is scalable, you need to understand exactly what that means.

To quote Investopedia, scalability is defined by “a company’s ability to grow without being hampered by its structure or available resources when faced with increased production.”

To put it simply, a scalable business is one that can handle and perform well under mounting workload or scope; it is one that can grow through new geographies and markets without falling apart.

Man thinking
measuring tape

How to check you have a scalable business model

With the current Covid-19 recession, if they haven’t already, businesses need to be checking that they have a scalable business model. If they haven’t, then they need to be implementing one.

Here are a few questions that you need to be asking yourself:

1. Is your bottom line growing faster than your top line?

2. If you went on holiday for a month, would your business still grow?

3. Can your current systems/processes/ways of working support your business being twice or 3 times as big?

4. Can your current ways of working produce predictable new client wins?

5. Can your business win work without you being involved?

6. Is there enough of a market place for your firm’s services to scale to the level you want?

If you answered yes to all of these questions, you have a scalable model in place. If you answered no to some or all of these questions then you have a bottleneck that is limiting the growth of your business and you need to address those areas.

Build a scalable business

The difference to surviving the recession and thriving in it is whether you have a scalable business model. There are plenty of fast-growing, cash-burning companies that are going to be vulnerable during this time, but if you have a flexible model in place, then you can not only adapt to the turning tide, but you can also grow comfortably when the economy is on the upturn again.

Here are a few tips on creating a business that can sustain the level of profitability as sales volume grows:

  • Refine the company’s growth trajectory
  • Communicate and enforce a growth culture
  • Define specialist jobs clearly & set and monitor goals
  • Set and monitor goals
  • Hire strategically and invest in technology
  • Streamline processes to boost efficiency
  • Build trusted partnerships
  • Give significant importance to marketing
  • Tactically outsource

5 easy ways to cut overheads during a recession

Posted on | by Jade Donno

So many businesses are in the position where they need to cut overheads but how do you do this without having to make anyone redundant or reducing their hours? How can you do this without having to trawl your financial reports? If you’re looking for easy ways to cut your overheads during a recession, here are 5 steps that you can take.

Number 1

What processes can you automate or eliminate? What tasks can be passed down the hierarchy or outsourced to reduce wage costs and free up staff for work of a higher value? How can you streamline your workflow? What do you do for clients that doesn’t really add value?

While the answers to some of these questions may take an initial investment, such as automating your processes, the increase in efficiency and productivity will save you in the long run.

number 2
team walking down street

Your employees are the ones on the ground, they are doing the tasks and are experiencing the potential problems and inefficiencies first hand so involve them. Ask them all the questions above that you’ve been thinking about yourself. They may come up with some great ideas that you haven’t even thought of.

number 3
Lady on phone

Make the first two steps a continuous process. For example, in every weekly team meeting, ask your team members to identify one thing which can be improved or made more efficient. If something hasn’t worked or hasn’t been delivered on time, analyse the process and see what changes can be made. If you give your team members new objectives that aim to improve the efficiency of the business, you’ll soon see that you will all start improving the way you do things naturally.


You can’t afford underperformance normally, never mind during a recession, so now is the time to address this. While setting individual targets and having regular check ins will work for some employees, others will need a bit more support. Maybe they need more training in the areas where they are struggling or for a particular software. Maybe they need to be put onto a formal performance management procedure.

number 5
Two men high five.

It’s all well and good talking about positive changes and implementing them, but you need to know if they are indeed making you more efficient and productive as a business. To do this, you’ll need to decide on your KPIs and you need to measure and monitor them. Once you have these figures, review them regularly, and you’ll be able to see if the changes you are making have been worth it.

You can reduce your overheads AND increase efficiency

The best changes, especially during a recession, are those that increase productivity as well as reducing your costs. That way, you don’t have to let anybody go and you don’t have to reduce hours. It’s all about working smarter.