So as Sandy has now landed back in the UK and hit the ground running with a great days trading yesterday, it’s my turn to get off on holiday! But before I shoot off to Budapest, as promised earlier in the week, I wanted to share with you our second helping of lessons in business from Sandy and Mitun:
Click "Read More" to hear the final 5 lessons!
Lesson 6: Don’t rush yourself
Similar to not assuming you are going to grow a business quickly, don’t rush to grow your business too quickly. One of the main challenges as you grow is taking on staff, you need to ensure you have a clear strategy that ensures if you have a sudden loss of income or a dip in sales you can still support both the business and its staff.
Lesson 7: Be good at one thing
Especially when starting out, it’s important to focus on one goal. I remember all the ideas Sandy had within those first few months once he had set up SR Investments. A high street branch, taking on staff, international events… and while world domination is still the aim… it was key to focus on one thing to start with instead of 5 - building a successful investment portfolio that clients can trust.
Having that focus has had great results with investments now reaching over £150,000 – pretty well trusted!
Lesson 8: Be visible online
Everything is online now and unlike traditional marketing methods such as leaflets, everything online is trackable. One of the game changers for Mitun’s business was gaining #1 ranking on google for the search “mobile phone repairs nuneaton”. This was all achieved by rebuilding his website to improve his SEO (search engine optimisation). If your site has strong SEO your will have more traffic to your site and are therefore more likely to gain sales. You can also track this traffic and each customers journey through Google Analytics and find out who is landing where on your web pages.
Being #1 ranked also means that he has had more footfall into store from people searching locally looking to drop in somewhere for a repair.
Lesson 9: Find ways to spread the word
How else have Sandy and Mitun promoted their businesses?
Facebook, Google and Reviews. Reviews are key to build trust and if you deliver an outstanding service, people love to talk about it.
You may have seen our recent recommend a friend for £150 giveaway… this led to us gaining 2 new investors within 15 minutes of posting! Think about how you can get people talking about your business. The great thing with our recommend a friend was that even if you aren’t a direct customer of SR Investments people still wanted to get involved.
Lesson 10: Working alone is tough!
One of the toughest parts of running a business independently is the time spent alone. It’s not so bad on a day when everything is going your way but whenever there is a dip in performance or a challenge comes your way it can feel overwhelming when you don’t have a team of people around you. This isn’t so bad if Sandy is out meeting with his clients however the majority of the time is spent analysing the markets and trading. Luckily due to the success of the business Chanel Baldwin has now joined the team as an Account Manager which should help on those more testing days, as well as improving the service and support offered to clients.
If you are in an industry where you do spend a lot of time working independently it’s really important to get a network of people around you, whether that’s to discuss strategies and ideas or just simply to raise spirits with some banter, they don’t have to be an employee but a fellow business owner for example or anyone who may be facing similar barriers and challenges.
I had only planned to share 10 lessons with you across the two blog posts but while I’m on a roll, lesson 10 reminded me of a crucial tip - Surround yourself with successful people.
Since becoming a client of SR Investments Mitun has been in regular contact with Sandy and the fact that both of them run businesses has built a competitive spirit between the two. They regularly check in with each other in regards to performance and sharing their successes each week spurs the other on to do more in their business. This is something, if you want to be successful yourself, you need to replicate. Surround yourself with people who want to see you progress and those that will question your ideas, not just tell you what you want to hear. Sandy now has a number of connections with other successful traders and business owners which allows him to gain best practices from other industries that perhaps he can replicate in his own organisation.
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To hear more about our low-risk investment options email email@example.com or contact me on 07949223771.
Thanks – Sean, Marketing Manager.
Here I will follow Sandy's journey - from creating SR Investments to becoming successful within the Forex markets.
Investments for your future