Starting A New Business

So you’ve got a business idea and you think it will work - make you money and/or give you satisfaction.

We could write many pages on what’s important in setting a business up - the does and don’ts.

More succinctly, from our reading, you may find the following useful to ensure success:

  • Be single minded - make a list of what’s important now and what can be put off for 5 years
  • Be prepared to make sacrifices - they’ll put you at an advantage against others
  • Don’t exclude those close to you - share information and maybe even get them involved
  • Beware of getting sidetracked - you may come up with other ideas but you need an evaluation method to check if its going to be more successful than the one your working on before you divert your valuable resource - don’t forget you’re probably the constraint!
  • Make a plan - review it regularly and be prepared to make changes if required to ensure success
  • Make your commitment to the business known to your customers
  • Don’t sacrifice your values/standards - its what sets you apart from others

 Good luck.

Are you dealing with your problems?

I’ve just finished reading a short but valuable book dealing with a problem we’ve all experienced at some stage of our careers “trying to handle problems that really belong to our subordinates”

You must read:

The One Minute Manager Meets The Monkey

By:

Ken Blanchard, William Oncken Jr, Hal Burrows

ISBN: 978-0-00-711698-0

The results of the problem described in the first paragraph is a reduction in your productivity and an increasing aptitude of your subordinates not to deal with the problems they should. They get used to throwing difficult things in your direction. You procrastinate and your personal performance suffers.

By the way “A monkey” is the next move in solving a problem.

Oncken’s rules of monkey management are:

  1. Descriptions - the next moves are specified
  2. Owners - the monkey is assigned to a person
  3. Insurance policies - the risk is covered
  4. Monkey feeding and check up appointments - the time and place for follow-up is specified

EMS recommends you read the book, apply it and prepare for improved performance. 

The Premiership Season Has Started But Business Goals Have Never Been More Important!

Another thank you to Rachel Bridge of the times who wrote another good article in the Small Business Section on 15/08/2010.

The article referenced three guys who set up a business a year ago showing people round London in Mini’s - they’re successful. They rightly see setting tangible goals as underpinning the philosophy of the business - “It is imperative to have goals, otherwise you are just sailing with the wind”. They go on to explain that they make a decision together then do individually what we need to do to get to that goal, breaking it down into smaller goals that are going to help us get there - see our blog on ”Are you dealing with your problems?”.

Their principles of making dreams come true are:

  1. Stick a picture on your fridge of something substantial you want to achieve.
  2. Write a list of your long-term goals which should be time lined. Break them down into more practical milestones. Review them.
  3. Think about your true motivation. The more you link your goals to your life the easier it will be to achieve them.

EMS recommends you read the full article.

Job cuts on the rise……….

The Chartered Institute of Personnel and Development (CIPD), state that a third of employers expect to cut jobs in the next three months.

CIPD research shows that 36% of public sector employers are planning staff cuts.  It reports that “across all sectors employers are expecting to make an average of 5.5% of their workforces redundant, up from the 3.6% average cut being considered three months ago.  This data comes from a survey of 600 companies.

Written by our HR specialist Simone Greasley

Bribery Act Announced…………

The Government has announced the timetable for the implementation of the new Bribery Act 2010.  This will now come in to force in April 2011.A new and controversial offence of “failing to prevent bribery” will be introduced, which will apply to all businesses operating in the UK.  This includes partnerships, limited companies and all commercial entities.  

The Government will engage in a short consultation exercise in September this year.  This will be published in early 2011 to allow businesses time to familiarise themselves with the guidance before the Act commences in April 2011.

Wriiten by Simone Greasley - HR and Recruitment Consultant

Equality Act Will Become Law In October 2010………..

The Equality Act will become law in October 2010.  It will cover the same groups that are protected by existing equality legislation – age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership and pregnancy and maternity.  It also extends some protections to groups not previously covered and seeks to strengthen equality law.

For the employer the Equality Act will ensure consistency in what you need to do to make your workplace a fair environment for all.

Reported by Simone Greasley our HR and Recruitment Specialist

Small & Medium Size Businesses?

So what are they?

For information definitions worth considering are:

Under the Review requirements of the Companies Act, a ‘Small Company’ is one that does NOT exceed 2 of the following:-- Turnover £6.5M- Balance Sheet £3.26m- 50 employees A ‘Medium – sized Company’ is one that exceeds the small company parameters, but does NOT exceed 2 of the following:--Turnover £25.9M-Balance Sheet £12.9M-250 employeesThankfully,

I still work for a Small Company!

Written by John Hill one our financial people.

Additional Paternity Leave…………

On 22nd July, Theresa May, Minister for Women and Equalities, suggested that the coalition Government may postpone or re-write the Labour Government’s regulations on extended paternity leave for fathers………………………………….

Further information is awaited with interest.

Information supplied by Simone Greasley - HR and Recruitment Consultant

Age Discrimination Claims On The Rise………

The 2009-10 Employment Tribunal statistics show a significant increase in the number of age discrimination claims.  5200 claims were recorded compared to the previous year of 3800 claims.

It appears that employees are becoming increasingly aware of their rights in this area.

Reported by Simone Greasley our HR and Recruitment specialist

Family Business Awards - if time is the obstacle?

Some of you will have seen our blog entry last week on The Wilson Organisation - Family Business Awards.

It struck us that some companies may not enter since they are too busy running their business - they lack time to make their entry?

If this is the case then EMS are prepared to help complete their entry free of charge.

Anyone interested should contact enquiries@emseff.co.uk quickly since the closing date for entries is 23rd July 2010.