On 10 November, the winners of the National Business Awards were announced. We give a rundown of some of the success stories from the night and look at what you could learn from their approach.
In the news, it’s reported that HMRC are closing local tax offices and the National Grid has played down fears that the UK could face blackouts this winter.
Top news stories
HMRC reveals tax office shake-up
After last week’s news that HMRC was failing to answer phone enquiries, the tax authority will be closing 137 local offices and replacing them with 13 regional centres.
National Grid plays down fears of power crunch and blackouts
Despite Britain’s energy capacity becoming increasingly stretched, the chief executive of National Grid has said he was confident of getting through this winter without blackouts.
Freelancers are happier than employed workers
The Association of Independent Professionals and the Self Employed surveyed freelancers and found that 86% were very satisfied with the way they worked. That’s in contrast to a recent survey from Investors in People which found only 40% of employees were happy in their jobs.
44% of staff want employer support to make healthy lifestyle changes
85% of respondents believe their productivity would increase if they were able to stick to positive lifestyle changes.
Apple 'to launch peer-to-peer payment app'
Apple is rumoured to be in discussions with banks to set up a new money transfer app that would put it in direct competition with PayPal.
Key dates for your diary
27 November: Black Friday. see our article; is your business ready?
30 November: Cyber Monday.
National Business Awards: the lessons for businesses
It’s often easy to get bogged down in the day-to-day running of your job - but it’s essential that you take time out to not only celebrate success but also think about new ways of working that could help you hit your targets.
Some businesses have already been successful in this area. Here we take a look at some of those award winners, the reasons the judges chose them and what lessons you could apply in your job.
The Body Coach - make the most of digital
Just because an industry is traditionally face-to-face, doesn’t mean that it won’t work online. Joe Wicks has used his experience in personal training and nutrition to create a plan which he shares on his website and through social media. This has allowed him to increase his reach, from 100 or so people in the local park to more than 450,000 people on Instagram and 70,000 on Twitter.
The judges said, “He is showing everyone how digital can enable businesses to scale-up exponentially. Joe's business is growing rapidly; it’s generating revenue in the millions; it’s employing c. 40 people; and crucially, Joe is delivering his excellent fitness and weight-loss programme to c. 50k+ people all over the world every day.”
So don’t be scared of thinking of new ways of delivering your traditional business digitally. It could allow you to reach those growth targets.
MVF and Emoderation - think global
MVF helps businesses acquire new customers and started in a basement near Borough Market in London. Although the company is only five years old, it’s already operating in over 100 countries and employing more than 200 people. They say the key to their success is that “we only recruit people with the language skills, cultural knowledge and winning attitude to sustain this incredible growth.”
Emoderation also received an award. This company provides social media management services in many parts of the world and in multiple languages. It’s had year-on-year growth of more than 30%.
Some smaller and newer businesses think that they can’t expand into global markets, but that’s simply not true. We’ve just produced a new guide that can help you get started.
Better Bathrooms - stay true to yourself
The judges praised Better Bathrooms for its ability to “retain a real sense of personality and motivation” while experiencing rapid growth. The management remains approachable and the structure is flat, which helps build a sense of community amongst the staff.
Just because you’re expanding, doesn’t mean you have the adopt the hierarchy and systems of a big business. Think about what could work for you, your employees and your customers and stay true to your vision when you founded the business.
Vanarama - know your customers
The winner of The Lloyds Bank Small to Medium-Sized Business of the Year was praised for “their insight into their customers and their ability to turn that into strong business growth”. Vanarama help their customers find the right van for their business and spend time listening to their customers’ needs and supporting them with financing their purchase.
Having a strong understanding of your customers and prospects allows you to target them with the right communications and provide a service that helps you stand out amongst the competition. It doesn’t have to be expensive to get this information - online surveys can be conducted for free or very cheaply using sites like SurveyMonkey or you can simply ask your customers for their feedback.
Want to see the full list of winners?
Check out the National Business Awards website.