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British Business Etiquette Top Tips

23 April 2015

Every country has a different culture based on attitudes and values. If you’d like to successfully do business in a foreign country, it is important to know and reflect these values. In order to aid businesses hoping to trade in the UK, we’ve compiled our top tips for getting British business etiquette right. Whether you’re working for a company based abroad and are looking to expand into the UK, or are a UK business wanting to brush up on your etiquette, this article will help you to make a great impression.

Appreciate the environment

Corporate social responsibility is becoming more important to businesses in the UK. With global warming and our impact on the environment a topic many UK businesses are currently thinking about, it would be a good idea to do what you can to reduce your business’ carbon footprint and negative impact on the environment. This will also give you a great subject to talk about to bond with other businesses.

Be punctual

British people in general value good time keeping. If a meeting was arranged for nine o clock, a British business person would generally arrive at that time or even a little earlier. It would be considered impolite to turn up to a meeting late. If you’ve been delayed unavoidably for a few minutes, an apology upon arrival is acceptable. However, if you’re going to be more than a few minutes late it would be a good idea to call and offer to rearrange the meeting if it’s no longer convenient for them. Time is valued as an economic resource.

Fit in

To really do well trading in the UK, embracing the British culture is a good way to forge relationships both with potential customers and business allies. British people like to support businesses they perceive to be local traders and it is likely they’ll also be more trusting of a British business. A good way to fit in is by using a business address service. Visit https://blog.eformations.co.uk/address-service/ to find out more about our business address service that will enable your company to use a prestigious West London address as your company’s mailing address and on company stationery.

fit in

Observe the correct dress code

Classical conservative dress is the norm for business occasions in Britain. Dark colours such as black, dark blue and grey are all common and you can almost never go wrong wearing a suit. While dress code varies across industries, with more creative based companies possibly being less formal, it is always better to be overdressed than under dressed. Silk ties and well made suits and shoes are also considered a sign of affluence and status.

Thinking about changing your business address?

We offer an easy to use business address service that will make it so your business has a prestigious London address. To apply for our business address service please click here: https://blog.eformations.co.uk/address-service/ If you’d like to find out more about any of our other business services, why not give us a call for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk/ .

Five Tips For Successfully Running Multiple Businesses

13 April 2015

For many entrepreneurs, one business simply isn’t enough. Having multiple businesses is also a great way to generate multiple streams of income, and if you delegate well enough, it can even lead to the holy grail of business owners: passive income. It also means you don’t have all of your eggs in one basket.

However, balancing multiple businesses is a delicate task and it’s a lot more complex than forming a company, forming another one and then trying to do everything at once. We’ve put together five tips that will help you to successfully run multiple businesses and eventually generate multiple streams of income.

  1. Choose your projects wisely

Find a niche, test it, and then fill that gap with your product or service. Your idea doesn’t have to be completely original; it can just be your own twist on something that already exists. Choose something you’re passionate about, you may be working on this project for years, so it’s important to stay interested!

 

  1. Hire great people

Successful businesses require great staff. If you’re juggling multiple businesses, having those extra pairs of hands around to catch every ball is very important. Having great people, who share your vision, on board will also help you gain new opinions and insights that could help your businesses succeed. Always listen to the people you work with!

 

  1. Pick some great partners

Once your business and brand gain a reputation, you may discover that people want to work with you. While diversifying with partners is a great idea, as you can benefit from their talents and experience, always keep in mind whether or not it fits with your vision and brand. However enticing the offer may seem, make sure it feels right and don’t be afraid to say no if it isn’t, as it will benefit your business in the long run.

partner

 

  1. Start simple

The best way to begin your journey to owning and running multiple businesses is to start with one. Successful businesses usually start small and grow. Even though you may have multiple good ideas for businesses, it’s always best to start with one and master it before moving on to your next project. Sticking with one maximises your chances of success, as forming multiple companies and trying to start them all at once is likely to mean that you’re spread too thinly and do a poor job.

 

  1. Keep working hard

Whether you’re working on a single business, or have several ventures on the go, it is important to keep your foot on the pedal. If you’re at the head of a business, by working hard, you’re setting a great example for your employees. Working hard doesn’t mean never having a break and sometimes it’s good to step back from the project and see it from a new perspective, but a great working ethic is important if you want your businesses to stay successful. Hopefully you’ll be passionate about your projects and it won’t feel like work!

Thinking about forming a company?

If you’re considering forming a company, we’re here to help. Our online company formation service is easy to use and your company formation will be done in just 3 – 5 working hours. If you have any questions about this service or any of our other business services, call us for a friendly chat on 020 8232 5479. Alternatively, visit our website blog.eformations.co.uk for information about all of our business services.

Seven Top Tips For First Time Business Owners

02 April 2015

Even the biggest success stories come from small beginnings, and there is absolutely no reason why you can’t be a success too. With the right idea and a lot of hard work, you’ll be on your way to business success. However, there are many things it is helpful to know before forming a company and starting your first business. Here are seven top tips for first time business owners that will help you to launch your first venture successfully.

  1. Focus on one idea

Entrepreneurs often feel like they should be taking every opportunity and capitalising on new ideas. However, having multiple projects on the go means that you’ll be spread too thinly, which can slow your progress. It is better to do one thing perfectly than ten things poorly. If you’re thinking about jumping on another idea, it may be that your original concept isn’t grabbing you enough. See if you can adapt it and try to see an idea through from start to completion.

matters

  1. Analyse weaknesses and strengths

What are you good at and where do you lack experience? It is a mistake to think you’ll be able to do everything yourself. Figure out where your strengths lie and surround yourself with successful advisors and mentors who will help you to become better at business.

  1. Start cheap

When you’re starting out after forming a company, watch every pound and triple check all expenses. The money in your wallet is all that’s keeping your business afloat at the start, so keep a close eye on it! Fancy offices and cars should wait until after business success.

  1. Scale down

If you need a lot of capital to get your business started, you should probably rethink your concept. Investors are unlikely to give money to someone that is untested. Scale down your idea and make it work as an early stage venture. If you’re successful, investors are more likely to be interested.

  1. Do what you know

Businesses built on strength and talent have a greater chance of being successful. Don’t jump into a business just because you think there’s a chance to make a lot of money fast. Do something you know and something you love. You’ll be putting a lot of work into this one idea so it’s important to like it!

  1. Learn your pitch

You never know who you’re going to meet, so it’s a great idea to have a thirty second pitch you can reel off. Be sure to adapt the pitch to the person and always be concise.

  1. Know when to walk away

If your idea doesn’t pan out the way you envisaged, know when to walk away. Don’t go down with a sinking ship. Instead, reflect on where mistakes were made and what could be done differently next time. Then try again, either with a new idea or with a fixed version of the old one. Never give up and you will prevail in business.

Thinking about forming a company?

We offer an easy to use online company formation service that will help you to register your limited company and start trading in no time. If you’d like to find out more, or to talk about any of the other services we provide, call us for a friendly chat on 020 8232 5479 or alternatively, visit https://blog.eformations.co.uk/