Wine merchant Edward Parker says margins in his sector are not generous and so 'cash flow management is absolutely key'. So too is seamless operations strategy. Parker sources wine for private individuals from producers globally and delivers across the UK...
You are right to be sensitive to the situation. Your long-term financial performance will be related to your ability to get the right product to the right person at the right time.
One option would be to offer gold, silver and bronze guaranteed delivery dates to accommodate different customer expectations with prices to match.
The full article can be read at this scanned pdf.
This was posted at the Business Support blog and I have taken a few lines from it.
"....Finally, I come to the aspect of what I would do if I were Robert Craven.
What could Craven do, occupying as he does the position of a leader in his marketplace (Consultancy).
Anyone involved in assisting SMEs wishes to help raise the standards and expertise of small business management.
As a market leader in UK Business advice and assistance Craven also needs to protect himself from business consultants trying to use or cheapen his business material.
So what’s my suggestion?
It is simple. Robert Craven (RC) already does a fantastic business presentation for UK SMEs in his business series: “Lets talk, More profit”. Market himself/rebrand himself as a business guru ‘celebrity’, increasing his ‘reach’.
He is already known as an author but he would benefit from raising of his profile. Creating top quality DVDs of his material (e.g. More Profit and Bright Marketing) and, with the help of the best PR in the business, he can try to -reposition himself as the celebrity business guru, such as the like of Alan Sugar.
Does this need TV to achieve it? I suspect it does, but that is where professionals come in.
The point is to rebrand Craven as a celebrity (i) is achievable and (ii) which bring him all the rewards he deserves (increased prominence, respect for his materials, financial return etc)."
Your thoughts?
I am slightly alarmed at the proliferation of so-called DIY solutions for small businesses.A quick look at the internet sees people offering DIY solutions for
- accounting
- search engine optimisation
- promotional materials
- PR
- web design
- market research
- creating a brand
- ‘any marketing material’!!
- payroll
- health and safety
- employment law
- company formation
- business planning
- legal solutions
- IT networking
- ISO9000 and so on
I bang on about business owners being control freaks, never letting go... the main thing holding the business back is the owner/manager–director. There is no way that any person could deliver a half-decent result from trying to do almost any of these DIY solutions. You cannot do it yourself! You cannot be an expert in that many fields. And why would you want to?
You should be doing what you are best at. You should be employing the people who are best at function x to do function x. I would not want to look at a DIY manual to consider whether to perform my own heart surgery; I would not look at a DIY solution to figure out how to do my accounts. There are other people far better equipped to do these things.
Anyone who has seen the IKEA shelves I once attempted to put up will understand where I am coming from – reading instructions is not my strong point!
It feels like a no-brainer to outsource most of your non-core operations. Neither I nor my people have the time to be 100% bang up-to-date on payroll legislation and its application, the latest google algorithms, top tax techniques etc. That is why we employ/outsource experts to do the job.
The expert outsourcer can be local; they are an expert in their field, they bring years of their experience to your business but you only pay for the skill as and when you need it. No full-time Finance or HR Director, just an FD or HR Director when you really need one.
On the cost side this is incredibly effective; on the benefit side you get heavy-weight/blue-chip assistance for your less than blue chip business.
Here are a couple of examples of businesses I have recently met who are ‘doing what it says on the tin...’
James Benson – The FD Centre
Sue Tumelty – HR Dept
Peter Prater – QTAC Payroll Systems
Anthony Sherry – Chorus IT
Jason Flintner – Flint Design
(And of course I must add Paul Jobin - The Directors' Centre)
From Insider Money Talks:With around half of small business poised to expand in the next 12 months Barclays is offering an additional 26 free business seminars around the country to support the renewed interest in business growth.
Barclays business seminars, with backing from ACCA and Business Link, are presented by a range of business gurus including Rene Carayol.
The Let's Talk Preparing for Growth is a series of nine new seminars from Barclays focusing on business growth.
In addition, Barclays is offering 17 Let's Talk Bright Marketing and More Profit seminars during the second half of the year.
"The focus for many companies has shifted towards growth," said Steve Cooper, Managing Director for Barclays Local Business.
"Expansion can be a positive move for a company, and there are always opportunities for growth, but the reality is that it's also difficult.
This is a chance for businesses to hear experts speak about growing successfully, and also to ask the questions they need to ask."
Business Secretary Lord Mandelson said: "This is an important initiative by Barclays which I hope helps small businesses get the support they need to grow.
"Small firms depend on bank lending to fulfil their potential and any move like this by lenders to help businesses deal with new challenges is encouraging.
"There is plenty of free advice available for small firms to help them succeed, including from Business Link, and it is important that they take advantage of the full range of support on offer."
The Let's Talk seminar programme is developed by Barclays and delivered by leading business gurus who have worked with organisations across diverse sectors and size, helping companies face the challenges of business by implementing strategies and processes that focus on customers and profitability.
Let's Talk Preparing for Growth will help companies to think about whether their business is in the right shape to look at expanding and how to go about it.
Let's Talk Bright Marketing makes businesses re-think how they get and keep customers, helping them focus their marketing activities more effectively and profitably, see their business and products through their customers' eyes, to take control of their sales and marketing activity.
Let's Talk More Profit makes businesses re-think how they make their money giving them tools and techniques to improve profits in their business, improve cashflow and how to make it all happen by getting more customers, more sales, more profits and more cash.
RELEVANT LINKS
Insider Money Talks: - the original article
Let's Talk Preparing for Growth - Barclays webpage
Let's Talk Bright Marketing and More Profit - Directors' Centre webpage
Let's Talk Bright Marketing - webpage
Let's Talk More Profit - webpage
Kiki Maurey, the keynote speaker for The Directors' Centre, is delivering four Let's Talk events for Barclays.
