business support

How to Make the Most Out of Business Awards

MOMENTUM Business Support Business Support
A trophy placed on an office desk next to an open laptop and documents

If you’re running a business, you already know that it requires a lot of hard work, dedication, and devotion. That’s why it’s essential to commemorate your success and acknowledge your team’s efforts. And what better way to do it than by winning an award? So, in anticipation of the 2023 Adur and Worthing Business Awards, we’re exploring how to make the most out of business awards!

Prepare Your Entry Carefully

Your entry is your chance to impress the judges and stand out from the crowd. Therefore, it’s crucial to take the time to prepare it carefully. Make sure you highlight your achievements, provide evidence and statistics, and showcase why your business deserves to win. Ensure that you tailor your entry to the specific award that you’re entering. Each award has different criteria, so make sure you address them comprehensively in your submission.

Promote Your Entry and Celebrate

Once you’ve submitted your entry, it’s important to promote it- so tell your team about the nomination and encourage them to share the news online. You can also use this opportunity to reach out to your customers and spread the word! If you’re shortlisted or win the award, make sure you celebrate with your team and update your website and socials. This is great for increasing audience engagement as well as tapping into new networks within local communities.

Use the Award to Your Advantage

Utilise your victory and leverage it to grow your business further. You can use the award’s logo on your website, social media, as well as other marketing materials to display your new accomplishment. Don’t forget to share photos/videos from the night; it will help to boost your online presence and emphasise your businesses involvement within local communities. You can also use this opportunity to gain press coverage, attract new customers, and network with other industry leaders.

Keep Improving Your Business

Winning a business award is an excellent milestone, but it’s crucial to remember that it’s not the end goal. It’s essential to keep refining your business and striving for excellence. You can use the feedback you receive from the award judges to identify areas of improvement. This will help you stay ahead of the competition, continue growing, and win more awards in the future.

Winning a business award is an excellent way to gain recognition, increase credibility, and stand out from your competitors. If you have an individual or a business in mind that deserves recognition, or would like to nominate your own business, why not take part in the fun this year? Entries for 2023 are open! Swing by https://awbawards.com to get all the exciting details.

The Impact of Mobile Optimisation for SMEs

MOMENTUM Business Support Business Support, Digital Marketing
A close-up of a person holding a mobile phone on a blue background

With the rise of smartphones and tablets, optimising your website for mobile devices has become essential for any business. In fact, it’s especially crucial for small and medium-sized enterprises (SMEs) to have mobile-friendly sites. Why is that, you ask? Simply put, mobile optimisation enhances user experience by improving site speed, reducing bounce rates and increasing user engagement, all of which contribute to higher conversion rates and greater ROI.

Consider this: about 70% of web traffic comes from mobile devices. If your website is not optimised for mobile devices, you’re missing out on a massive number of potential customers. Additionally, Google has announced that mobile optimisation is part of their search algorithm, which means that if your website is not mobile-friendly, you’ll likely have a poor search ranking.

Beyond these benefits, mobile optimisation can also boost brand credibility. A mobile-friendly website shows that a business is current, reliable, and trustworthy. On the other hand, a non-mobile optimised website can make a business seem old-fashioned and out of touch.

So, how do you optimise your website for mobile devices? Here are a few key steps that you can take:

Ensure that your website is responsive: A responsive website changes its layout dynamically to fit the screen size of the device being used, without altering the content.

Make sure your website is easy to navigate: Mobile screens are small, so it’s important to make sure that your site is easy to navigate. Use clear, concise headings and subheadings, and ensure that buttons are large and easy to press.

Reduce load time: A slow-loading website can be frustrating for mobile users. Ensure that your images and videos are optimised for mobile viewing and that your website’s code is streamlined.

Mobile optimisation can be the difference between losing potential customers and converting them into loyal clients. With its potential to improve user experience and boost conversion rates, it’s no wonder that more and more businesses are prioritising mobile-friendly websites. So, if you haven’t already, it’s time to invest in mobile optimisation and ensure your website is mobile-friendly.

If you’d like to find out more about mobile optimisation or require any other business support, please do not hesitate to get in touch. We are always happy to help.

T: 01903 688789 E: makeithappen@mbsmih.com

The Small Business Owner’s Guide to Maximum Efficiency

MOMENTUM Business Support Admin, Business Support, Home Working
A woman in formal clothing working at a desk with an open laptop and a cup in her hand

Small business owners wear many hats and juggle numerous tasks all day, every day. With so much to do, it’s easy to feel overwhelmed and struggle with productivity. However, implementing a few simple strategies can boost your efficiency and help you get the most out of every workday. In this blog post, we’ll explore practical tips and tricks that can help you achieve maximum efficiency and get ahead of the curve in the competitive world of small business. Whether you run a retail store, a consultancy or any other type of small business, these strategies will work for you.

Get Organised: The first step towards increased efficiency is to declutter your workspace. A tidy working environment reduces stress and distracts you from looming piles of paper. Set up a filing system for important documents, store items in their designated places, and allow ample storage space. In addition, organise your digital workspace and consider utilising project management software. This way, you’ll have a clear overview of your tasks and deadlines, and you can easily delegate work to team members if you have them.

Prioritise Tasks: One of the biggest challenges small business owners face is knowing where to focus their energy. Identify the most critical tasks that need your immediate attention and deal with them first. Create a daily to-do list and break each task into smaller, more manageable steps. Not only will this increase your productivity, but also help you maintain focus throughout the day.

Employ Time-Management Techniques: Good time management is about making the most of your working day. For example, you could use the Pomodoro method -a technique where you work for 25 minutes and take a five-minute break between sessions, then repeat- to combat procrastination and distractions. You can also make use of tools like RescueTime and Trello to track your productivity, identify your most productive times, and eliminate time-wasting activities.

Automate Processes: Automation is a fantastic way to streamline your workload and save time. Use software to handle administrative tasks like sending invoices, scheduling appointments, and responding to emails. This automation gives you more time to focus on growing your business, networking, and other high-level tasks that require your attention. You can also automate marketing and sales processes by using chatbots, social media scheduling tools, and email automation tools, among others.

Use Outsourcing Services: Outsourcing frees up your time and resources so that you can work on your core competencies, reduce costs, and increase efficiency. Outsource administrative tasks such as bookkeeping, social media marketing, and content creation to reliable and experienced agencies to further streamline your business operations. This way, you can focus on the essential aspects of your business, and the day-to-day tasks are handled efficiently by experienced professionals.

Running a small business is often a delicate balancing act, more so if you’re a first-time entrepreneur. With so many tasks vying for your attention, it’s easy to feel overwhelmed and stressed. However, by implementing the above strategies, you can increase your efficiency, reduce stress, and grow your business more. Just remember to keep the end goal in sight, stay organised, and make the most of each day. With focus, consistency, and perseverance, you can achieve, and even exceed, all your business goals.

T: 01903 688789 E: makeithappen@mbsmih.com

Why We Believe in Transparent Pricing

MOMENTUM Business Support Business Support, Finance
A woman typing on a laptop while using a white calculator

As an SME owner, it’s important to know exactly what you’re paying for. No one wants to receive an unexpected bill or hidden charges, especially when running a business. At MOMENTUM, we believe in transparent pricing because we recognise how challenging it can be for SMEs to manage their finances. We are dedicated to providing clear and comprehensive pricing structures for all our outsourcing services, so our clients can focus on achieving their business goals and make it happen..

Always Adding Value

At MOMENTUM, we believe in providing a fair and competitive service which adds value. We want to make sure that our clients are not paying over the odds and that they are always getting a fair price. First and foremost, we believe that outsourcing should be affordable and accessible for all businesses, regardless of size or sector! We pride ourselves on being a value-based and customer-centric business.

Avoiding Misunderstandings

Transparency is crucial when it comes to avoiding misunderstandings, which is why we believe in being straightforward about the cost of our services. We aim to eliminate any uncertainties by offering clear and concise pricing information upfront, allowing our clients to know exactly what they are paying for, while having confidence in what we can offer.

Helping with Budgeting

Our pricing ensures that you’re only paying for the services that you need, without any hidden fees or costs. We provide detailed breakdowns of costs and fees for each service we offer, so our clients can make informed decisions about which services they require based on budgets and timelines.

Keeping it Simple

We know that as a business owner time can be a limited resource, which is why we always aim to keep things simple. Our transparent pricing aims to make it quick and easy for our customers to understand exactly when and what they are paying for. It simplifies the process by removing any confusion or guesswork and allows you to receive the support you need without any unnecessary delay.

At MOMENTUM, we believe that transparency is key to building strong relationships with our clients. We aim to make our pricing simple, affordable, and unique, while offering business owners the peace of mind they need to make informed decisions about their outsourcing budget. Check out our easy-to-use pricing calculator here: https://momentumbusinesssupport.com/pricing/. If you have any questions about our pricing or would like to find out more about the services we offer, please do not hesitate to get in touch. We are always happy to help.

T: 01903 688789 E: makeithappen@mbsmih.com

Essential Key Performance Indicators (KPIs) for SMEs

MOMENTUM Business Support Business Support
A group of people working together on some printed analytics at a table

It’s no secret that the world of business is a competitive one. As an SME owner, you need to make the most of every opportunity and keep a close eye on your business’s performance. One essential tool to achieve this is to track the right Key Performance Indicators (KPIs). KPIs tell you how well your business is doing against your goals, allowing you to measure growth and uncover areas for improvement. In this blog post, we’ll delve into the most critical KPIs you need to track to measure your SME’s success.

1. Monthly Revenue Growth: One of the most important metrics for SMEs is growth. To measure this, track your monthly revenue growth, which shows how much your sales are increasing each month. You should target a steady, incremental monthly revenue growth percentage that will enable you to reach your goals. If your revenue growth is declining or stagnant, you’ll need to investigate why this is happening.

2. Customer Acquisition Cost (CAC): CAC is the total cost involved in acquiring a new customer, including sales and marketing costs. It’s essential to track this metric as it helps you understand how much money you’re spending to attract new customers and whether this cost can be reduced. Ideally, your CAC should be lower than your Customer Lifetime Value (CLV) to ensure profitability.

3. Gross Margin: This KPI measures the percentage of revenue that remains after accounting for the cost of goods sold. It helps you understand how efficiently your business is operating. A high gross margin indicates that your business is generating more income for each unit of product sold. A low gross margin suggests that your business is inefficient, and you may need to consider cost-cutting measures.

4. Customer Retention Rate: Customer retention is critical for SMEs as it costs significantly less to retain a customer than to acquire a new one. Tracking your customer retention rate allows you to measure how many customers you retain over a certain period and improve your customer experience. Improving customer retention rate means your business will benefit from better brand reputation and positive word of mouth, resulting in more sales.

5. Inventory Turnover: This KPI measures how quickly you can sell inventory and purchase more. A high inventory turnover rate indicates that your business is selling products quickly and efficiently, whereas a low inventory turnover rate suggests that you may have obsolete inventory or slow-moving Stock Keeping Units (SKUs). Efficient inventory management is important to maintain a healthy cash flow and prevent unsold inventory from accumulating.

KPI tracking is crucial for any SME to measure its performance and growth. Identifying the right KPIs helps you stay focused on your goals and make more informed decisions. We hope this blog post has given you a clear understanding of the most important KPIs you need to track. Remember, KPIs should be tailored to your business requirements and goals, and monitored regularly to ensure continued success.

If you’d like to find out more about KPIs or require any additional business support, get in touch. We would love to answer any of your questions and discuss your needs!

E: makeithappen@mbsmih.com T: 01903 688789