Top business tips for 2016 – Part Two

Top 10 business tipsIn the earlier post, Top business tips for 2016 – Part One, we discussed what business leaders around the world are now focusing intently on, their aims and challenges for the next 12 months in 2016. In particular, the key themes for business minds to raise their standards this new year.

Based upon the themes, you then develop an outline of your goals for 2016. The outcome should be no more than 3–4 big goals. Perhaps one goal per theme.
Did you manage to develop a list of goals? Or are you still struggling to find the small number of goals which will make a real difference to 2016?

Part Two of the best business leaders – and rock music legends – profiled in 2015 for the BBC’s (by Will Smale) The Boss slot share their thoughts on running or setting up a business in 2016.

Deb Weidenhamer, founder of American Auction Company

Deb Weidenhamer, founder of American Auction Company

Collective wisdom says that goal-setting, planning and managing your time wisely are critical for success.
However, there is a secret formula to achieving objectives that is widely overlooked – do what you dread first!
Tackle the task, have the conversation, do the mundane that you least want to do at the beginning of your day.
It takes incredible discipline to start with the unexciting, but when you complete the task, you avoid using psychic energy towards fretting about what you’re avoiding.
You will open yourself up to more inspiration and imagination and find more time to accomplish greatness.
David Spencer-Percival, founder of recruitment firm Spencer Ogden

David Spencer-Percival, founder of recruitment firm Spencer Ogden

Setting up your own business requires enormous focus, drive and ambition, coupled with an incredibly hard work ethic.
You need funding, and you need relentless energy. Charm and wit help.
You also need to have a decent pair of rose tinted glasses to hand as if you knew all the pitfalls before you started you probably wouldn’t do it.
But my one piece of advise is that outside legal and finance issues – don’t listen to anyone, don’t read business books, and do things your own way.
Technology and new ideas are changing the world faster than people can become experts in it. Don’t follow the crowd – think for yourself, be different and break the mould.
Nirmal Sethia, founder of Newby Teas

Nirmal Sethia, founder of Newby Teas

The most important things when starting a business are – don’t lie, don’t pretend, and don’t mislead your executives and the masses. And be passionate about the mission, have an innovative mind, and be totally honest in implementing your vision.
Hiring the best team is a matter of luck. Bosses must keep their eyes open not to allow politics, dishonesty and indiscipline. Anybody who gets involved with these three, should be sent home immediately. In my experience, referrals are the best source of fine personnel.
How long does it take for positive returns? Management is about making things happen, managing changes.
If the vision is innovative and supported by all requisites, i.e. finances, production planning, and strong administration, then success needs short gestation.
Innovation is not only required for product, but also for administrative and financial systems. Slow progress can be tolerated, but negativity beyond a short space of time – in spite of the excellent management team – should indicate the time is ready to pull the plug.
There ought to be constant innovation in both product, resources and management. Without personal commitment and understanding of people’s psyche, the best can fail. A successful entrepreneur needs divine grace, commitment to the cause, discipline and courage.
Gary Grant, the founder of toy shop chain The Entertainer

Gary Grant, the founder of toy shop chain The Entertainer

Entrepreneurs have a different level of risk taking.
In life we all have a risk threshold. There are people for whom not having secured their regular monthly salary cheque is daunting.
You have to believe in yourself, and then you have just got to go for it.
Depending on where you are on the risk register separates the very calculated “I need to know all the answers” type of person, from the ‘I’ve got a good gut feel about this, I’m just going to give it a go’ person. To be honest, the later one is the kind of person I am. I’ll have a go.
I don’t take on unnecessary risk. But if you want dead certs they don’t come your way. They don’t exist.
Mark Constantine, founder of toiletries and cosmetics firm Lush

Mark Constantine, founder of toiletries and cosmetics firm Lush

Reconsider your marketing. If your marketing is the same as others in your sector, you’re doing it wrong.
Make sure that your customer can work out the value for money. If they can’t, you don’t deserve to retain them.
Think of different things you can do with your business that are not just about making money.


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