SMEs won't be picking up the public sector job extras

The Government hopes the private sector will start hiring as the public sector starts firing. But SMEs beg to differ, at least in the short term.

We’ve heard a lot from the Coalition recently about how entrepreneurship is the answer to the UK’s economic woes. The Chancellor told the CBI conference just weeks ago that he envisaged a future where new start-ups could ‘flourish’, ‘drive growth’ and ‘create jobs’. With 500,000 public sector jobs expected to be lost, that means we'll need a whole lot of high-growth start-ups to avoid the dole queue expanding exponentially. However, research conducted shows that 85% of SMEs aren’t planning to take on any new staff in the next three months. Doesn’t bode well…

Add to that recent reports that the UK’s lack of world class manufacturing is going to hinder any recovery where are we to go?

That said, the Prime Minister may not need to fret just yet. Research released by the London Chamber of Commerce and Industry earlier this month found that the majority of London-based entrepreneurs are planning to invest in growth in the next two to three years (just 30% weren’t). So although most entrepreneurs are sitting on their hands for now, it could be a different story further down the line. That's backed up the survey, which also found that around 35% of firms are more optimistic about the economy than they were three months ago, and a similar number are expecting business to take a turn for the better in 2011.

But if the Government is really going to persuade small companies to invest in growth, it may have to go further than spending money on infrastructure and its much-heralded centres for innovation (though that's a decent start). What do entrepreneurs really want? Less red tape, for a start: a quarter of SMEs reckon the Government should start by taking the axe to health and safety legislation, while a further 19% thought tax compliance was the place to start. Hopefully, reducing the compliance burden will save money and free up entrepreneurs to do what they’re best at, i.e. running their business - while shelling out lots of tax and hiring lots of ex-civil servants in the process.

Also there is a  lack of training for women  in business which has bee identified as holding back UK industry, where next?



Helping Real People do Real Business Through Real Networking

Elevator Pitch and Lifts in General

Looking at business connections and learning’s, I reflected on how you haven’t learnt anything until you have put that learning into action.

Take the infamous “elevator pitch” it’s a speech you would give if you were in the elevator  with a potential customer and you only had until they got out at the tenth floor to impress them with details about you and your services

There is some evidence to support this was originally used as a way to impress the personal assistant who was escorting you to your interview.  The thought process was the boss would ask said PA what they thought of the applicant

However, in summary, a relatively short description of what you do and the benefits you deliver. A helpful, but by no means the only recommended structure, is to develop your sentences as follows:-

We/I work with ………………………………… (insert a description of customers)
Who have a problem with……………………………….…………. (insert description)
What we do is……………………………………………………………... (insert description)
So that………………………………………………………………………..………. (insert results)
Which means that…………………………………………………………….. (insert benefits)

Research shows that people respond more readily to problem solvers than they do to potential benefits.  This is why the second line is so important.  This is another way of looking at the age old phrase that ‘Knowledge is King’ and those who use it wisely will generate more business.

For those out there who would like a free evaluation of your elevator pitch please send me yours with a few details of your product or service and I will give you a free and impartial review.

To your success in business

Paul Johnstone
paradigmshakers@gmail.com

Big firms getting Social media right

Here’s a thing- Big companies are teaching small businesses an online lesson. And it’s usually small companies that have the ability and flexibility to teach bib business lessons about on-line smarts.

Anyway this Graham Jones fellow puts it across better than I can check out his message.  http://bit.ly/bOM5u4



Helping Real People do Real Business through Real Networking

Paul Johnstone

PS do you see a duck or a rabbit?