As Managing Director of nSYS Julian Keating marks 30 years in business, SBNN took the opportunity to hear about the 10 most important lessons he has learned during his career.
Julian’s top ten tips
Don’t be afraid to do business outwith your area – Oil and gas has plummeted and to stay in business you can’t be afraid to travel elsewhere to find business. nSYS have travelled all over UK for business trips many times especially in 2016.
Believe in what you sell – Believe in it and you will sell it. As a business selling financial solutions in credit management, e-invoicing software and Purchase-to-Pay you must be passionate, well informed and know the benefits to your clients.
Do not expect success immediately – Don’t expect your business just to take off, you need to put in time and effort to create your client base, brand and reputation as well as investing in staff training.
Have a good team – One person can’t be good at everything so build a team with skills. You need to look for intelligence, honesty and energy – these are the people who drive the business.
Find new ways to keep costs low – Reduce costs by outsourcing administration. This can be HR, health and safety, reception, PA and even financial office. These areas have excellent outsourcing services and will save you a fortune.
Invest in sales and marketing – Sales and Marketing is a large part of succeeding in business. You need to ensure that your business is promoted to the right audience. Don’t be frightened to use social media outlets such as LinkedIn and Twitter. Intelligent and informative comments, blogs and links will draw people to your website and in turn create interest and awareness for the company. Invest in a good CRM, understand the psychology and learn to triache prospects.
Networking – The more contacts you have, the better. It is all part of getting your name out there and people knowing what your business is all about. Attending events in the right sectors is a good way to get more contacts and introduce yourself to new companies and people.
Learn from competition – You need to be knowledgeable about your competition. It is all about knowing the pros and cons of your competitors and your own USPs. Having this knowledge means you can improve at a faster rate than the competition.
Acquire Partners – Acquiring partners is a good way to grow your business and it means you get support and possible funding from them when needed. For us, partners like Basware and OnGuard have supported us to grow into a successful business.
Modern Technology – Technology is always changing. You need to be up to date and adapt to new types of technology or else you’ll fall behind. This is why having good IT support is crucial. The ability to use the cloud and being able to gain access from anywhere will drive costs way down.