Are tough times one of the best times to grow your business?

The answer is YES. Many major companies have grown in tough economic times. Hard times are an opportunity to expand either through acquisition( by purchasing a business that has potential but needs new direction) or by attracting new clients(through offering a better service/product than they are getting from their current provider)

 Acquisition has many benefits including:

 

• Reduced overheads and increased purchasing power
• Established customer base and loyalties
• Immediate cash flow
• Proven products and services
• Drastic reduction in startup cost
• Experienced and skilled employees
• In place operating systems

 Growth through acquisition isn’t just the domain of large companies but also a chance for small and medium ones to achieve rapid expansion. However, the skill of identifying an “acquisition target” isn’t easy and specialist advice from a professional, such as a business mentor, can be an invaluable tool reducing risks. Their evaluation of the prospects and pitfalls might even tell you to walk away when you would have proceeded. Successful entrepreneurs, who have built a company in the same field as yours, have the experience needed to guide you through an acquisition deal

 Growth through more customers means giving them a reason to come to you rather than your competitors. Although attracting new customers nowadays means every £ they spend with you needs to work harder and offer more return and better service, that isn’t the be all and end all. People like to deal with people –people they like and trust. It is very important at every stage of business to build a good rapport with clients. Again a business mentor or entrepreneur, who has knowledge of your area of business, can be an invaluable tool in helping you achieve success through an increased client base. Sometimes we are too close to our own companies to come up with new ideas and initiatives but an outsider with experience can see just what we should be doing to boost sales.

 Make 2012 the year you become a wealthy entrepreneur through hard work and inspiration from a business mentor

 

 

 

 

How does an experienced business person become a mentor?

If you are lucky enough to have built a good business, sold it for a lot of money and now have a burning desire to help others do the same just how do you go about it?

 Rockstar offers a unique programme for people with considerable business experience to become mentors and offers a fee for their invaluable skills. The aspiring entrepreneur and mentor are carefully matched so that the mentor chosen has a strong background and record of success in the Start Ups chosen field.In the early days of a business having an experienced professional to steer a new entrepreneur round the common obstacles they face can avoid wasted expenditure, time and stress. Many new ventures do fail within the first year due to costly mistakes caused by inexperience. However with the knowledge built up by a mentor over many years it can be a very different picture. To the mentor imparting their knowledge and experience is very satisfying and the rewards in seeing someone else make a go of a new business quite a thrill.

 However it isn’t just start ups that use mentors – many SME’s realise that consulting a mentor at all stages of their business can avoid costly pitfalls and help in many areas of their business. A recent survey showed that SME’s prefer to receive advice and support from other experienced business people so if you have ever wanted to be a mentor now is the time.

How to you sell yourself, your company and your ideas to potential investors

Looking for finance can be one of the most daunting aspects of starting a business- especially for a novice entrepreneur. The most important sales tool you can have is belief in yourself and your business idea backed up with the confidence that comes from being properly prepared when doing your pitch for investment.

 

Many angel investors will pass on a seemingly good looking investment if they don’t have faith and confidence in the people presenting the proposal. Many investors will openly say they are not investing in the business plan but the person behind it because they can see the potential to succeed in that person.If you dont have the experience to write your business plan then a mentor could be invaulable.

 However, you still need to be prepared and have given thought to your pitch for investment so that you can easily answer questions such as:

 

• What are your strategic plans?
• Who do you see as your competitors?
• What gives you a competitive edge over your rivals?
• What return will an investor get?
• What exit strategy do you foresee?

A full business plan isn’t always necessary for an initial meeting. In many ways a short and to the point executive summary highlighting the key points of the business and the investment opportunity will grab an investors’ attention more and a business mentor can guide you to write this.It is vital that the investor can see what is in it for them so a brief summary covering the business proposal, how much investment is needed, how it will be used and the ROI (return on investment) Most important is how much you have invested yourself- potential investors know that if you have a serious financial commitment in the business you will work harder to make it a success.

 

 

 

 

 

 

 

 

Inspiration to boost sales and survive a difficult 2012

Sometimes running a business can evolve into a situation where the day to day pressures stop you from seeing and planning long term goals because you have become jaded and it’s hard to stay positive. You lose the drive and spirit that first made you want to become an entrepreneur and succeed.

  Inspiration from an outside source such as mentoring or workshops can reinvigorate not just the person running a company but the employees, the marketing strategy and most importantly sales. The guidance and experience of a business expert who has survived previous economic downturns will inspire and re motivate leading to a new enthusiasm. The prime aim of a mentor is to help your company grow and deliver sales and profits.

 So how can you increase sales – well if you aren’t in a growth market the only way is by taking market share from competitors? Market research will help you differentiate your product or service from your competitors enabling you to see what your target market wants in order to buy from you. In the current climate value is probably at the top of most potential customers list but if you feel you can’t compete on price because margins are too tight then you need to offer added value in the form of service, reputation, reliability etc.

 How do you reach these potential customers?  Start with low cost marketing options such as social media, internet marketing, PR, referrals from existing customers, and networking opportunities such as free business workshops. Then look at more expensive options such as advertising and marketing events.

 To monitor sales growth you need to set targets so that you can see what is working for you and delivering growth and what isn’t working. All marketing activity should have an identifiable code like a different phone number, promotional number or e mail address so  that you can identify what marketing is drawing new customers in.

 In what is undoubtedly going to be a difficult year seeking mentoring support is probably the best thing you could do to maintain or increase growth in your business .

 

 

 

 

 

 

 

 

 

 

 

 

5 steps to maximise success and boost sales in 2012

With 2012 nearly upon us many UK business owners will be wondering what trading will be like in the coming year. There are so many outside influences like the Euro crisis that will have a spin off effect but there are certain basic steps businesses should concentrate on to help maximize chances of success in 2012.

 

1. Relationships/Networking – fundamental to the life blood of a company are the people who will use or recommend your services or products. Servicing both existing customers and suppliers and building relationships with new ones through networking events is a free form of marketing.
2. Marketing – It is inevitable that most UK businesses will look at cost cutting in 2012 but in a downturn cutting marketing activity is not advisable. You need to maintain or increase your spend to stand out from your competitors. Customers are spending and you need to make sure you are their first choice – concentrate on not only offering great value for money, which will be most consumers’ priority in 2012, but also added value such as service, relaibilty and integrity. Also if you haven’t already embraced Social Media it needs to be an integral part of your marketing in 2012- it’s free, easy to use and sends a very personal message about your company.
3. Business Plan- probably more than ever it needs to be a working, evolving plan that grows and changes with your business and the pressures it faces in the coming year. For example you may not have thought of expanding in 2012 but with some businesses struggling the opportunity could arise to increase your market share by acquisition. Have you thought where to go for private funding as inevitably your bank won’t help?
4. Cost Cutting – keeping a tight control on costs will be vital in 2012 but not if it hurts your business. Consider all the options when looking at reducing overheads – it may be that a fresh pair of eyes in the form of a Business Mentor could actually save you money despite an initial outlay. The experience of a successful business person who has been through tough times in the past could be invaluable to SME’s and Start Ups.
5. People – your employees represent your company and the impression they give to prospective customers is vitally important. Employees need to have a sense of pride in the company they work for. Creating that environment is largely down to management but by delegating and allowing employees to make recommendations on the day to day running of the company they gain a feeling of involvement and pride in the success of the company.
6. Websites – make sure yours is really working for you and that it’s not just bringing traffic to the site but converting it to actual sales. Again there are specialist companies who will overhaul your site and make recommendations to achieve this. Is your site easy to navigate? Are your contact details on every page? Do you have the right keywords on your Home Page? Is the site constantly updated?

In a 2011 survey 81% of respondents said they liked to source information on line before buying and preferred to purchase from a business that had a website.

 

 

 

 

 

With 2012 nearly upon us many UK business owners will be wondering what trading will be like in the coming year. There are so many outside influences like the Euro crisis that will have a spin off effect but there are certain basic steps businesses should concentrate on to help maximize chances of success in 2012.

 

1. Relationships/Networking – fundamental to the life blood of a company are the people who will use or recommend your services or products. Servicing both existing customers and suppliers and building relationships with new ones through networking events is a free form of marketing.
2. Marketing – It is inevitable that most UK businesses will look at cost cutting in 2012 but in a downturn cutting marketing activity is not advisable. You need to maintain or increase your spend to stand out from your competitors. Customers are spending and you need to make sure you are their first choice – concentrate on not only offering great value for money, which will be most consumers’ priority in 2012, but also added value such as service, relaibilty and integrity. Also if you haven’t already embraced Social Media it needs to be an integral part of your marketing in 2012- it’s free, easy to use and sends a very personal message about your company.
3. Business Plan- probably more than ever it needs to be a working, evolving plan that grows and changes with your business and the pressures it faces in the coming year. For example you may not have thought of expanding in 2012 but with some businesses struggling the opportunity could arise to increase your market share by acquisition. Have you thought where to go for private funding as inevitably your bank won’t help?
4. Cost Cutting – keeping a tight control on costs will be vital in 2012 but not if it hurts your business. Consider all the options when looking at reducing overheads – it may be that a fresh pair of eyes in the form of a Business Mentor could actually save you money despite an initial outlay. The experience of a successful business person who has been through tough times in the past could be invaluable to SME’s and Start Ups.
5. People – your employees represent your company and the impression they give to prospective customers is vitally important. Employees need to have a sense of pride in the company they work for. Creating that environment is largely down to management but by delegating and allowing employees to make recommendations on the day to day running of the company they gain a feeling of involvement and pride in the success of the company.
6. Websites – make sure yours is really working for you and that it’s not just bringing traffic to the site but converting it to actual sales. Again there are specialist companies who will overhaul your site and make recommendations to achieve this. Is your site easy to navigate? Are your contact details on every page? Do you have the right keywords on your Home Page? Is the site constantly updated?In a 2011 survey 81% of respondents said they liked to source information on line before buying and preferred to purchase from a business that had a website.

WHO NOTICED ITS ACTUALLY 6 STEPS??

 

 

 

 

 

 

 

Are these the Top 10 UK Entrepreneurs in 2011?

2011 is nearly at an end and 2012 is looking uncertain but the entrepreneurs below aren’t complaining. Their hard work and entrepreneurial spirit has seen them make a fortune. If you want to join these successful millionaires   then you need to book a place on our free January seminars and learn from expert mentors the top secrets to becoming a millionaire entrepreneur.

 

1. Nick Robertson of ASOS (Clothing brand)
2. Simon & Bobby Arora of B and M Bargains (Discount retailer)
3. Paul & Jeremy Eakin of TG Eakin (Health care products)
4. Noel Hayden of Gamesys (Gaming websites)
5. Alan Reece of Pearson Engineering (Manufacturers of systems & equipment for the army)
6. Julian Dunkerton of Supergroup (Superdry clothing label)
7. Peter & Denise Coates of Bet 365 (online gaming)
8. Jonathan Milner of Abcam (Bio Tech business)
9. Sukphal Sing Ahluwalia of Euro Car Parts (Car parts supply company)
10. Chris & Laurie Edwards of Poundworld (Retailer)

 This inspiring group of entrepreneurs comes from a broad range of sectors proving that if you spot a gap in a particular market then hard work and innovation can still bring success in the current global financial situation. If you are a Start Up, or SME looking to expand, 2012 could be a good year for you with advice and direction from a Rockstar mentor.

 

 Who you would vote as the UK’s top entrepreneur 2011?

 

 

Start ups- take advantage of mentoring

Many SME’s make mistakes when they start up but learning from others how to resolve and recover from them is part of the journey to building a prosperous company. However, without outside help many start ups never learn how to resolve and recover but fail due to inexperience.

 The two main areas that UK SME’s fail on in the first year are financial management and marketing .Guidance from a successful entrepreneur, in the form of mentoring, will help with business planning, funding and the implementation of marketing and financial strategies. More and more SME’s are realizing that being able to pick the brains of a successful business person can prevent them from making costly mistakes. In the long run the initial outlay reaps a far greater payback in terms of both money and time.

 With the economic uncertainty launching a new venture or business is a bigger gamble than ever but this country needs entrepreneurs to create jobs and prosperity. Even in an economic downturn new businesses can emerge and thrive with the right combination of innovation, dedication and skill. Together mentor and ambitious entrepreneur can pool their ideas and experience to build a viable, well run and profitable company

Entrepreneurs – what businesses will do well in 2012?

With nearly a quarter of the population 65 or over what ventures could aspiring entrepreneurs look at to attract this target market – especially as a sizeable number have a high level of disposable income and aren’t being hit in the same way by the current global financial problems.

 There are the obvious sectors such as Care for the Elderly and Nursing Homes but not all elderly people have health or mental disadvantages .With huge jumps in life expectancy many people in their 60’s are living better lives than people in their 40’s who are struggling with families, mortgages and unemployment.

 So what areas could an emerging entrepreneur enter to attract this market – mobile phones with big buttons? Computer and Web courses? Specially tailored gym and fitness programmes? Adventure holidays? Why not seek the advice of a business mentor who has had the practical experience and success of running a profitable company.

 At the end of the day over 65’s are people like anyone else – as Professor Bernard Isaacs said “Design for the young and you exclude the old but design for the old and you include the young” So any entrepreneur launching a product or service should think about how they can attract this wealthy section of society rather than just concentrating on the young.Seek the right advice from experts and the over 65′s could make you a millionaire.

Should millionaire entrepreneurs be more generous at Xmas?

Why? They have worked hard and built their own fortunes with most giving generously to charities on an ongoing basis. They probably are more generous at Xmas but why should they be expected to be? We’ve all read about the Beckhams spending £35,000 on 6 Xmas trees because it makes a good story but if they are also giving to charity why shouldn’t they spend their money on what pleases them? However generosity and giving isn’t all about money – its giving also of time, support and knowledge which many very successful entrepreneurs do in the form of mentoring. Their mentoring skills aid others to build prosperous businesses which this country badly needs at the moment. Entrepreneurs create wealth for the economy and jobs for the country. If you have the entrepreneurial spirit to set up your own company, or are looking to expand an existing one but need advice on funding or building brand awareness then mentoring can help – you could be the millionaire entrepreneur giving generously next Xmas.

Young Entrepreneurs benefit from mentoring

Mentoring programmes in the USA have shown that many young entrepreneurs totally lack training and experience to prepare them for being in the business world. They may have talent and creativity to start a business but not the required back up skills. The same is true in the UK where aspiring entrepreneurs are starting up with no practical experience of running a company just theory from business courses and text books.

 

Business mentors, who could also be looking for investment opportunities, give their personal experience and knowledge to aid budding entrepreneurs become successful business people.Rockstar has a unique funding programme with mentoring aid for SME’s and has helped many young entrepreneurs on the road to success.