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Entrepreneurs and SMEs – Making the Most of Your Employees’ Individuality When Hiring New Staff

As an entrepreneur or SME owner you’ll want to ensure your business grows quickly, effectively and successfully. Part of this growth can often see the expansion of your enterprises through increased trade, physical expansion of your workplace and the investment in new staff.

That latter of these aspects is arguably one of the most important: your new staff are the future of your company and naturally you’ll want only the best. But how can you be sure whether a) you’ve got a decent candidate, and b) they can offer your business something positive in the long term?  This is where you need to turn to the expertise of the staff you already have.

Promoting Positive Values

As a small enterprise you may presently only have a small staff roster, but among them you’ll have a pool of qualifications, skills and abilities that you can proudly demonstrate to prospective applicants as part and parcel of working in your industry. Before you publish any advertisements for new roles, be sure you’ve referenced some of the skills your employees have as this could be appealing to potential candidates who share common interests.

A Thorough Interview Process

Depending on which role you have on offer, a way to help assess and properly consider interviewees is to have one of your existing staff on the panel. Get them to ask challenging questions about their shared specialist area to really put the applicant to the test. This way you can know for certain that this person really knows their field well and isn’t just trying to bluff their way through the interview.

Not only can this be a good way of vetting people, you can get an honest and more reliable opinion post-interview about whether your employee thinks they will be a good acquisition for the future. Equally you can decide whether they have the potential to develop further with extra training and support – which again your current staff can offer advice on.

Added Benefits

Another positive to consider is the effect such actions might have on the morale of your staff. They may feel flattered and proud for you to ask them to do this and be pleased that you acknowledge their hard work and skills, which in turn could see them working even harder and more productively.

So if you want to see your company head in the right direction, look to your current staff and what they have to offer to ensure you find the best fit for your business.

Does your Business Need its Own Mobile App?

Apple recently announced one of the biggest profit margins in history and according to the New York Times has a “93% share of the profit in the handset industry”. These figures have come predominately from Apple’s massive global sales of its latest iPhone model, with millions sold in China alone.

What’s perhaps more incredible about this, is that this is only one of the leading smartphone companies. Other tech giants like Samsung and HTC can also boast healthy sales figures of their devices and you only have to take a look around you on a busy street to see just how many people are using a smartphone.

But should we be surprised by this? Gone are the days where a mobile phone was just that, a phone, with the occasional luxury of being able to send a text. Today they are portable multimedia platforms allowing users to do pretty much anything tech-based from the touch of a button. Whether it’s taking a photo or organising a date, I’m sure you’ll have heard the expression ‘is there an app for that?’ being asked at some point.

The Answer

So, really the answer to the above titular question should be a resounding ‘yes’. The bottom line really is that if you want your business to connect to your clients, then going via their smartphones is a sure-fire way to do so.

Creating Apps?

The creation of an app may well exceed your computing capabilities but that’s where companies like Evolve. These specialist firms can create bespoke apps for businesses which can offer as much or as little as they want them to.

What Benefits?

So aside from being able to showcase your business, other benefits you can realise from an app include:

  • Being available 24/7 – apps aren’t limited to working hours and depending on the nature of your service you can provide for customers around the clock.
  • Improved Communication Services – businesses can go above the standard phone call or email communications that the average company offers. Apps can feature messaging services meaning you can directly answer, and ultimately deal, with any issues far quicker.
  • USP – at the moment, you can market your app as a unique selling point and it can make your business stand out from the competition.

These are just a few generic examples of what having a mobile app can bring to your business, again depending on your service you could offer much, much more. So if you are in a position to invest in such features, be sure to do so to tap into a huge global market.

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Top Tips for Asset Management Start Ups

For those looking to build an asset management business, there’s an awful lot to think about. The field is a complex one, and the knowledge, skills and financial backing you’ll need are not always easy to come by. That doesn’t mean that you’re doomed to failure, however; with the right business plan in place, and a firm understanding of how to get started, it’s fully possible to build a successful enterprise.


But where do you start? Read on to find out more…


Step One: Make Sure that You Meet Regulatory Compliance Standards


Given the potential for abuse, it’s no surprise that asset and investment management firms must meet a number of regulatory controls. The exact requirements that you’ll need to fulfil are dependent on the country that you live in. It’s best to seek professional advice to guide you through them and make sure that you tick all of the necessary boxes – some of them can be quite complex. You’ll find that there’s a wealth of information and useful contacts available online to get you started and put you in touch with the right people.


Step Two: Secure Investors for Your Enterprise


Asset management firms are not a cheap endeavour to embark upon. Your start up costs will be high, and in addition to typical start up expenses, you’ll also need a substantial amount for seed capital. This figure could be anything from tens of thousands of pounds to millions, depending on the scope of your envisaged business.


Unless you already possess a vast personal fortune, this means that you’re going to require investors or wealthy partners. To do so, you will be required to jump through hoops, so make sure that you have a solid business plan, detailed budget forecasts, a proven track record and a realistic exit strategy in order to attract the investors you need.


Step Three: Surround Yourself with Experience


Fully-fledged companies have the luxury of hiring brilliant graduates on a low wage and training them up themselves. As a start up, you’re going to need to pay your staff more in order to attract the necessary experience. The best will come with their own contacts, and their success, capability and skill set will help to put your business on the map. If you can surround yourself with the right staff, you can go in hard and fast and make a killing from the start. Your sales team will be particularly important, as you’re going to need their talent to draw in the clients who’ll fund your enterprise.


Once you have these three key assets in place, you’re ready to hit the ground running. What are you waiting for?