e-factor

Christmas seems such a long time ago and before we know it, the next one will be here. As trade gets tougher on the high street, we may well be seeing the Christmas sales again in nine months’ time.

Traditionally this is the one time of year we reminisce on the good times over the last twelve months. Ah well, swiftly moving on.

One thing is for certain, if you continue to do what you’ve always done, you’ll continue to get what you’ve always got. That’s great if things are just the way you want them, which is not normally the case. But for many, they shy away from change and the fear of stepping out of their comfort zone, only to wonder why things are still the same when they look back at the year that was. Granted, not everything is under your control or subject to your influence, which gives you more reason to focus on what you can change.

You can't move for the predictions of a tough year ahead for business and there is no doubt we will all feel it in our turnover and our margins. Nonetheless, as small business owners we are not ones to back down from a challenge. Resilience rather than resignation is called for and whatever is happening out there, the fundamentals of doing good business remain as important now as they ever did.

I am delighted to welcome you to the new e factor website. The new site designed by local companies Kinetic Marketing & Design and Be-everything will I hope you agree give you even more opportunity to be informed and understand the immense amount of help e -factor can provide to anyone interested in business and enterprise.

e-factor is dedicated to inspiring enterprise in North East Lincolnshire and providing the best possible assistance to local businesses. Since we started out our Business Advisors have amassed an incredible amount of experience as well as training to make sure we continue to bring you the very best in solid business support and advice.

When it comes to social media it always seems to be a case of playing catch up.  No sooner do you get your head around Facebook, then Twitter crops up, master Twitter and it's Linked In, feel like you're getting somewhere and then it's writing blogs, You-tube and now google+!

In business you need an element of luck, but the way that you work on your business may be the difference between earning a living or exceeding all expectations. This is more relevant when times are tough.

In a recent straw poll amongst local SME businesses I asked “What most frustrates you about marketing your business?” The overwhelming answer came back as “not knowing what I am getting back for the money I spend”.

This got me thinking. Why is this so difficult for SME businesses to know the return on investment (ROI) from their marketing spend?

I think that most people will agree that establishing and sustaining a small business in today’s economic climate is challenging to say the least.  Indeed when you are thinking about starting a business – or wanting to know how best to survive in business, any number of friends and “self styled experts” will be on hand to offer advice and tell you what you should or shouldn’t do.