> Here are 4 things that every SME should have in place to ensure successful growth.
- Know your finances – This is crucial – many business owners are great at running their business and the key elements that entails. It does not mean they are great with their own numbers – if you are only seeing your accountants once a year (to be told your tax bill) something is wrong!
- Minimising taxes & Costs – This is easier said than done. Largely because business owners spend their time running the business not looking outside. We recently saved a manufacturing company over £200k of costs simply by taking time out to explore the market.
- Have a business plan – It’s vital that business owners know what their vision is. What ideally will the business look like in 2/3/4/5 years’ time? What are the realistic goals and what are the ambitions?
To share this with your team is essential for everyone to pull together in the same direction. - Have a Challenger Brand mindset.
“Challenger” isn’t a state of market, it’s a state of mind. This way of thinking is as important and powerful for a hugely successful brand as it is for a start-up.
Andy Berndt – Managing Director, Google Creative Lab