getting back to work

Studying as a Single Parent
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Life after Divorce – How to Start Studying as a Single Parent

Published on
Mumandworking
Zena Scott Manager Mum and Working

Financial Help – Studying When You’re A Lone Parent

If you would like to go back to college to learn something new or brush up on old skills, what help is there available?

The mumandworking.co.uk team have looked at some of the help and support that is available to parents wanting to return to studying.

If I go back to college, who will look after my children? What financial help is available for childcare?

Most colleges provide basic childcare facilities to accommodate children up to five years old during term time. They offer quality childcare and education for your child whilst you study on full- or part-time courses. To secure a place at the college nursery you must apply early as possible.

If you cannot get a place at the college nursery, look at other childcare facilities in your local area, such as:

  • local créche facilities
  • registered childminders
  • private nurseries

You may be eligible for a Childcare Grant to help you with your Childcare fees.

Full-time higher education students with children can apply for a Childcare Grant.  The grant helps with childcare costs for children under 15, or under 17 if they have special educational needs.  You must be eligible for student finance to apply for a Childcare Grant.

Any money you get is paid on top of your student finance and you don’t have to pay it back.

2015 to 2016

In 2015 to 2016 you can apply for:

  • up to £155.24 a week for 1 child
  • up to £266.15 a week for 2 or more children

For more information, and how to apply visit – www.gov.uk/claim-tax-credits

I’ve heard college courses are very expensive…can I get any help with fees?

There is financial help available for paying your fees. It may vary within different Local Education Authorities (LEA’s), so it is worth contacting them or the college guidance service at the college you would like to attend directly to double check any of the information below

Under 20? The Care to Learn fund is intended to help enable young parents under the age of 20 to continue in, and return to education after the birth of a child by providing funding for childcare whilst the studying as a single parentyoung parent is engaged in a study programme and is therefore not able to provide care for their child.

Care to Learn can also assist with the cost of associated travel costs.

The scheme can provide up to a maximum total amount of support of £160 per child per week or up to a maximum of £175 per child per week in London.

The amount you get will depend on your personal circumstances. You will not get this grant if you receive The Lone Parents’ Grant or if you claim the childcare element of the Working Tax Credit from the Inland Revenue.

The application process for Care to Learn is moving to an online approach. Guidance will be available throughout the online process to help young parents complete their application.

In order to apply, you must register on the Student Bursary Support Service portal. Further details on how to access the portal will be provided later in the Spring. Once registered for an account you will be sent an email confirming your Username and Password. Once logged in, you should follow the instructions to complete your online application.

The Parents’ Learning Allowance is help towards course-related costs for full-time students who have dependent children. How much you get depends on your income and personal or family circumstances. The grant can be worth up to £1,523 per year. Jobcentre Plus will not count this grant when they work out your benefit entitlement. You will not get this grant if you receive the Lone Parents’ Grant.

Child Tax Credit from the Inland Revenue may be available to students with dependent children. It is paid to parents whether or not they are working or studying. To get this you must be between 16 and 18 years old and be in full-time education or registered with the career services.

Child Tax Credit at a higher rate may be available to parents with disabled children or children under one year old. The money you get depends on your circumstances and you can make a claim at any time.

One of the main things to bear in mind when thinking about returning to college is that is doesn’t mean you will be cut-off from your current benefits.

Many of the grants and funding that is available has no effect on your benefit amount at all, and will top-up existing support to make sure you are covered for childcare.

The best place to start when thinking about starting a course is either a talk with your local Local Education Authority or with a Lone Parent Advisor at the JobCentre.

Take a look at more Lone Parents advice on the mumandworking.co.uk support pages here.

 

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How to Own a Franchise

Back to Work after Divorce – How to Own a Franchise

Published on
Gary Wolff
Franchise and Marketing Manager

This is a brief outline of some of the things to look for when buying a franchise.

There are suggestions and advice but it is by no means exhaustive or complete as there is not enough space here to allow that.  Buying a franchise is not an easy option when wanting to start your own business.

It takes time, effort and commitment.  When you buy a franchise, you can sell goods and services that have instant name recognition, and get training and support that can help you succeed. 

But purchasing a franchise is like every other investment; there’s no guarantee of success. 

It is very important to understand right from the start that if you have pre-conceived ideas on how you want to run your business then you must decide if franchising is the way forward for you.  You will need to run your business in the way that the franchisor has set down in their franchise manuals.  If you do no think you can do this then franchise may not be for you.

A franchise enables you, the franchisee, to operate a business using a pre set system or format developed by the franchisor.  The franchisor also gives the right to use the name and operating system and to call on them for assistance.

For example, the franchisor may provide you with help in finding a location for your business, initial training, an operating manual and advice on management, marketing and sales, in fact everything to do with successfully running the business.

Buying a franchise may reduce your investment risk by enabling you to associate with an established company who, in theory, will have ironed out most of the pitfalls encountered by someone starting out on their own. 

In return for this, a franchise fee will be charged and in some cases may be substantial.  You will also have other costs: for example, you may be required to pay for advertising, insurance and other usual costs that you will incur when starting or running a business.

In exchange for the right to use the franchisor’s name and assistance, you will pay some or all of the following fees:

  • An initial franchise fee
  • Training fee
  • Transfer fee if buying an already established franchise outlet  
  • Other costs needed to launch your franchise successfully.

In most cases the franchisor will charge ongoing royalties either based on turnover or profit or a standard monthly or yearly fee that is paid no matter how well you are doing.

A lot of franchisors also charge an advertising or PR contribution.  Indeed, even if you voluntarily terminate your franchisee agreement early, you may owe royalties for the remainder of your agreement. You must also find out if there are any on-going costs and what they are for.

To ensure uniformity, franchisors usually control how franchisees conduct business. 

These controls may significantly restrict your ability to exercise your own business judgment.  For example, site selection, signage and advertising methods, advert content and restrictions on the goods or services you can offer.

This is often a good thing but you may not agree with what you are restricted to.  Your method of operation may be dictated to you as well.  For example, they may dictate hours; pre-approve signs, employee uniforms, advertisements or demand that you use certain accounting or bookkeeping procedures or that you buy supplies only from an approved supplier even if you can buy similar goods elsewhere for less.

Virtually all franchises will offer you a territory in which to operate.  This is to maximise the potential of that area and to stop you encroaching on the next franchisees territory.  This may of course restrict you for expanding should your business do well so you must choose and check your territory well before agreeing to it.

At some point you will want to sell your franchise. 

You must make sure that when you are starting out in your franchise you already know how you are going to get out of it when you want to move on.  Your franchise agreement should have clauses in to let you know how this will work and what you should expect.

Divorce Questions by children of divorce
How to own a franchise?

Before signing any contract or agreement you should have it checked over by a franchise lawyer and have them explain to you just what you are getting into. 

The agreement is very important both to you and the franchisor as it sets out just what is expected from both parties. 

When you buy a franchise you are essentially entering into a partnership between you and the franchisor and it is vital that everyone knows just what is expected and offered. 

All agreements will have a limited time attached to them and you should know how long your agreement lasts and if you are required to buy the franchise again at the end of it or if you just have to renew it. 

You should also be aware of any costs involved when this happens.  Although no one can make you sign the new agreement you should make sure that it has not been changed.  For example, have they raised royalty payments, methods of practice or reduced your territory.  Make sure you check it again a very carefully.

Before you invest in a particular franchise system, think about how much money you have to invest, your abilities, and your goals.  Be brutally honest with yourself.  How much money do you have to invest, how much money can you afford to lose and how much is it possible to make?  Are you purchasing the franchise alone or with partners? Where is your finance coming from?

You just look at yourself and think about what you can really do and if that particular franchise will suit you and your way of life. 

  • Do you have technical experience or special training or education?
  • What special skill set can you bring to a business and specifically, to your business? 
  • What experience do you have as a business owner or manager?

Write down your reasons for buying a particular franchise:

  • Do you need a specific annual income?
  • Are you interested in pursuing a particular field? 
  • Are you interested in retail sales or performing a service?
  • How many hours can you work?
  • Do you intend to operate the business yourself or hire a manager? 
  • Will franchise ownership be your primary source of income or a supplement do your current income?
  • Do you get bored easily?
  • Are you in this for the long-term? 
  • Would you like to own several outlets?

Other things to consider when buying a franchise are competition, your ability to run the business, brand awareness, training and support and company growth.

You should consider visiting franchise exhibitions to have a look around and see who is there and what they have to offer. 

The main national franchise exhibition is held annually at the NEC in Birmingham around October time.  Check the franchise magazine for dates and they also often have  free ticket in the as well.  there are other franchise exhibitions held all around the country at other times of the year and again these can be found in the franchise and local press.

Before  buying into any franchise and after attending the franchise interview, go away and do your research.

Read all the paperwork you have from the franchisor.  Don’t be shy about asking for explanations, clarification, and answers to your questions before you invest. 

If you feel you have found the business for you, you should seek advice from a franchise lawyer on the agreement and visit and call as many other existing franchisees in that business as you can to really get a feel for whether this is right for you.

Always stay clear of a franchisor that will not let you have all the names and numbers of their franchisees.  They should have nothing to hide from you and must ask them the questions that you have been asking the franchisor.

Starting your business may take several months.  Estimate your operating expenses for the first year and your personal living expenses for up to two years.  Compare your estimates with what other franchisees have paid and with competing franchise systems.  You may be able to get a better deal with another franchisor. 

An accountant can help you evaluate this information.  Your accountant will also look over your business plan to make sure you have not missed anything.  The business plan is essential as this is going to be your roadmap to success.  Remember “if you fail to plan, you plan to fail.”

Gary Wolff is a franchise and marketing manager with 12 years experience in the field of franchising including Franchise Management, Advertising, Coaching and Training

Gary Wolf – gldw@hotmail.co.uk – Tel: 07889 307 974

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looking for finance
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Let’s Talk about Money – 6 Dos and Don’ts when Looking for Finance for your New Business.

Published on
Griselda Kumordzie Togobo
Griselda Kumordzie Togobo Owner of Forward Ladies

Are you looking for cash to fund a new business, purchase an existing business or franchise?

Finding extra cash features very highly on every entrepreneur’s wish list. Although a lot of people find investors to support their business ventures, there are also lots of people struggling to get their businesses off the ground due to lack of funding.

In this article I will be sharing with you the main reasons why some entrepreneurs struggle to find funding and how you can go about your funding process to increase your chances of success.

The Dos when Looking for Finance

  1. Get your business plan in shape

Your ability to produce a clear, succinct, well thought out and well-researched business plan places you a few steps ahead of the competition.

A lot of businesses don’t get funded because their plans are poorly written, over optimistic in their financial projections and poorly presented.

Don’t let this initial hurdle stop you. If you don’t have a business plan at this point, then go write one or get someone to help you put it together. If you already have a business plan, then refine it and have it reviewed by a professional.

What investors look out for:

  • Is the product or service commercially viable?
  • Does the company have potential for sustained growth?
  • Do you and your team have the ability to deliver this plan and grow the business?
  • Is it too risky to invest in?
  • Does the potential financial return on the investment meet their investment criteria?
  1. Stand out from the crowd with a mind blowing pitch

 The banks and investors receive scores of business proposals. Why should they spend their precious 5-10mins looking at yours? Make yours jump out from the rest any way you can.

If you are lucky enough to be given a platform to pitch your business, then this is your chance to grab their attention. Tell them who you are, what your business is, what’s unique about it, the amount you are looking for, what you will use it for and what they get in return. Cut out all the fluff and gimmicks and get to the point. Basically aim to blow their minds in under 3 minutes.

  1. Stick to what you know

Investors are looking for competent and experienced partners to work with. You have a better chance of finding finance if your business venture is in an area you have knowledge and experience about. As much as possible try to stick to what you know and avoid industries that you have no knowledge about. A team with the relevant experience is a MUST if you have no personal experience in the industry.

 

looking for financeThe Don’ts when Looking for Finanance

  1. Don’t forget the financial bit

The financial statements i.e. balance sheet, income statement and cash-flow statement shouldn’t be your weakest link. The quality of your projection will demonstrate to investors that you pay attention to detail and have properly thought out the financial implications of your plans. An accountant can help you with this area if you struggle with numbers.

  1. Six degrees of separation – don’t underestimate your existing contacts

Every article on funding starts with asking your friends and family, but few people take the trouble to exploit this avenue properly.

Our friends and families are our greatest supporters and are quite willing to support us provided we present them with a viable business proposition.

Don’t cut corners when pitching to friends or family. Be professional and show them how you can make them money. At the end of the day that is what most people are interested in. I had a friend who did a full on presentation of his business idea to my family.

Although we didn’t invest in his business, we were so impressed with him that we opened up our contacts to him. If there is only six degrees of separation between everybody on earth, you never know where this seemingly small step may take you.

  1. Don’t Limit your search

It may be that a cocktail of funding options is your only chance of securing adequate funding for your business. Do your research to identify the options available to you. Few businesses have only one source of funding.

There are age and gender specific grants and other funding options available to specific demographics of the population. Research the grants, banks and angel networks available, tailoring your approach to each source. Your geographic location doesn’t matter so much anymore, as investors are quite happy to invest anywhere provided it fits their investment criteria.

The quest for funding takes time. You’ll be better off starting now! Reach out to people, ask for help and let them share their experiences with you.

For those looking to buy existing businesses or franchises – why not ask for introductions to the seller or franchisor’s bankers? Their bankers already know their business, all you have to do is prove that you are capable of replicating their success.

Good luck and wishing you every success in your search.

Griselda Kumordzie Togobo is a business consultant, speaker and coach dedicated to helping business owners increase their profits and productivity. She is a chartered accountant and holds an MPhil in Industrial Systems, Manufacture and Management from Wolfson College, Cambridge University.

I’m also an Enterprise Ambassador at Leeds University and guest lecture on entrepreneurship.

I founded AWOVI Consulting after a career with an international professional services firm where I provided business advisory services to small and medium sized Enterprises, Charities, The NHS and blue-chip companies.

I also own and run Forward Ladies where I am on a mission to make a difference in the lives of entrepreneurs as well as career women. Check it out.

 

 

 

photo credit: Women In Tech – 73 via photopin (license)

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business of intuition

How to Use your Business Intuition – Don’t Wait for Opportunities, Create them.

Published on
Susie Johns
Susie Johns
Intuitive Counsellor and Life Strategist

The trouble with intuition is; it can only be proved retrospectively.

Consequently, in the business world, it’s mistrusted in favour of a more rational approach that places its faith in statistics, market research and all manner of appropriate data.

However, data too is only as good as the premise upon which it is based and one data source can contradict the findings of another.

The best managers evaluate all the rational information available to them then add a sprinkling of intuition to bring successful results.  In general terms, women tend to be focused on their emotions and their physical body looking after and protecting their families.

Traditionally they were judged to be less objective and logical and are often perceived as lacking emotional control and intellectual rigour. Either way, they lost their power.

Men have tended, traditionally, to be more in their heads and bodies; working hard, playing hard, steering clear of emotions and gut feelings. Men – or women emulating men’s behaviour – can arrive at middle-age, ‘successful’ with their second homes, cars, all the material requirements more than fulfilled yet emotionally burned out and spiritually empty. These men and women are both half-fulfilled.

So for both sexes it’s not just a case of employing intuition to make the right business decisions but using it to keep us true to ourselves in every area of life because they are indivisible.

Intuition is our core spirit, our gut feeling.

We all basically inhabit four areas of life:

The Physical World: This includes our health, sexuality, how we earn a living and our attitude to the material world.

The Emotional World:  How we respond emotionally to situations and what our emotional needs are … our feelings

The Thinking World: How we understand and mentally translate our life; the way we communicate to others and ourselves.

The Spiritual World: Our belief and trust in ourselves and what we believe we can achieve in life.

We should flow through all these areas comfortably with each one having equal status and respect. The problem is that we can live life without this balance and harmony and yet we can’t be successful and fulfilled if we do not achieve it. As a woman, once we recognise this we can move forward beyond our blocks, easily.

business intuitionMen and women have to learn to respect each other’s strengths and be sensitive to their vulnerabilities, not always easy in the world of office politics.

But, we are human beings; human means flawed. Our flaws show our compassion and our tenderness. It’s when we see the great sportsmen or top businessman shed a tear, that we respect them more through displaying their humanity and humility. So we, in our world, should embrace our vulnerability as being an important factor of who we are.

So how do we as women celebrate our intuition whilst developing our objective intellect and being clear about our physical boundaries?

IQ is Mental Intelligence, it shows our ability to understand, analyse and communicate. For example, I am working as a financial executive who understands the nature of the work I do and I’m good at it.

EQ is Emotional Intelligence. We ask ourselves; am I happy or unhappy in this role?

SQ is Spiritual Intelligence. We ask ourselves Why. You will note that spiritual intelligence doesn’t provide a neat answer. It encourages us to ask more questions, such as; do I believe in what I’m doing? SQ is experiential. It requires us to be more in the moment and to trust our intuition.

Women are high on intuition but need to own it in the workplace by using it openly. So what exactly is it; how do we celebrate it and how do we demonstrate that it is valuable?

A mother is naturally Physically engaged with her baby, Emotionally connected, Spiritually intuitively reading all the signals emanating from the baby and Mentally analysing the constant stream of information – all at the same time. There is a feeling of fulfilment as she does so. Women need to use this principle in the workplace.

In writing this article, I was asked to explain what gut feelings are and how to use them in business.

However, the more I think about it, the more I see that women are brilliant at gut feelings. Their weakness seem to be harnessing their emotional responses, remaining objective, without losing trust in their intuition.

Intuition is our gut feeling that arises suddenly before we get emotionally or mentally engaged and yet incorporates our mind and feelings. If our head and heart agree, we are in harmony with the decisions we make. Trust the gut feelings we have about when to contact someone or not. If someone is telling you something and you feel there’s a hidden agenda, trust your instincts.

As a mother, you’re purely instinctive for the survival of your baby; if you don’t have children, you are instinctive in pursuit of self-preservation. We are all intuitive to some degree so what we need to do is to refine it and wear our intuition as a badge of honour.

Some women tend to feel their way through situations but are prone to crying when they get upset. However, behind the tears is often anger.

We need to deal with situations before they get to this level. Women need to own that they are as logical as they are intuitive. If a child is difficult, you instinctively calm your own emotions in order to handle the situation. Learn to handle business in the same way.

Trust your gut feelings and develop them.

Look at where you get things right in your wider life and use that in business. Feed your confidence and starve your fears. Bring balance into your life and develop your objectivity. See your emotions as a healthy part of you. Learn from your mistakes with compassion and never be defensive. We are human, and we’ll continue to make mistakes the trick is not to repeat them.

Don’t wait for opportunities, create them.

Susie Johns is an internationally acclaimed Psychic, Intuitive Counsellor, and Life Strategist; Her classes, workshops, articles, books, and private sessions empower people everywhere through self-awareness. Her goal is to help you gain insight into the bigger picture of your life so that you can face your demons, develop a plan of action, and overcome negative patterns to achieve true fulfilment.

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What is a Freelancer
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Back to Work – What is a Freelancer?

Published on
Griselda Kumordzie Togobo
Griselda Kumordzie Togobo Owner of Forward Ladies

Being self-employed is a decision that isn’t taken lightly by most people.

The legal structure you choose to operate your business with should be taken just as seriously as the initial decision to go self-employed. This is because the legal structure impacts the potential risks, compliance issues, financial and tax implications that you will face as a self employed business owner.

Lets assume that as a first step into self-employment, you decide to trade your skills as a professional freelancer.

Freelancing and contracting tend to be used interchangeably however the main difference is with the number of clients you work with at any given time.

Whilst freelancers tend to work with several clients at a given time, contractors tend to be contracted to work with just one client over a fixed period of time. Whether you call yourself a freelancer or contractor is irrelevant to Her Majesty Revenue and Customs (HMRC), you still need to make sure that you pay the right tax on time.

HMRC are very keen on investigating “employees” disguised as limited companies in order to pay a lower corporation tax rate. This is called the IR35 status which every freelancer or contractor needs to be aware of. This can potentially create fines and huge tax charges accumulated as a result of being taxed at a lower limited company rate.

Freelancers enjoy flexibility, independence and freedom as a result of being their own boss. As a freelancer, you have the option of operating your freelance business as a sole trader, limited company, partnerships or limited liability partnerships or through a PAYE umbrella company.

What is a freelancer?  Each will be described briefly but it is always worth speaking to an accountant to decide the best structure for you.

Sole trader

A sole trader is simply someone who runs a business without registering it separately as a different entity.

This is the simplest and least cumbersome way of starting and running a business. All you need to do is inform the Inland Revenue within 3 months of starting to trade that you are now a sole trader.

The downside of being a sole trader is that you are personally liable and responsible for any debts run up by your business. This effectively means that your personal assets may be recovered to pay off any debts that your business racks up! A sole trader pays income tax and national insurance contributions on their earnings.

what is a freelancerLimited company

When you operate your freelance business through a limited company, you become a director who is responsible for managing the affairs of the business (which is considered to be separate from you).

Having a limited company offers some protection when things go wrong.

Your personal assets are protected in case the company has to be liquidated or dissolved which usually happens when the company is unable to meet its financial commitments.

You are personally protected from bankruptcy arising from business losses. This makes it easier to recover from any business failures and to try again. There are also tax advantages in the form of lower tax rates and deductible expenses for limited companies. Directors of limited companies pay both Income Tax and NICs on their director’s earnings.

 

Partnerships (ordinary or limited)

Partnerships are business where two or more persons, the partners set up a business and share the risks, costs and responsibilities of being in business.

Partners can be individuals, businesses or other partnerships. Ordinary partnerships are unincorporated businesses (the business has no separate identity from the partners). An ordinary partnership is the simplest form of partnership much like a sole trader.

With limited partnerships or limited liability partnerships the business is registered as a separate entity therefore the personal assets of the partners are protected when things go wrong, similar to a private limited company.

Each partner in any partnership needs to pay tax on their share of the profits and gains, and make National Insurance contributions on their earnings.

The main issues with incorporation (for both partnerships and limited companies) are the burden and cost of compliance. If you are however serious about running a freelance business then you shouldn’t be discouraged by the extra administration. In most cases, the benefits of incorporation far outweigh the disadvantages.

PAYE Umbrella companies

Freelancing through an umbrella company is a hustle free way of freelancing because you effectively outsource the invoicing and administrative aspect of being in business to the umbrella company who act as your employers.

The umbrella company acts as an agency and contracts you to various organisations.

The umbrella company pays you a salary through PAYE so you don’t need to worry about tax and NIC contributions but you potentially earn less than the other structures because you directly or indirectly pay for the service.

As a final word, starting any business venture is exciting but you must be certain there is a market and demand for your expertise.

Without demand, it can be stressful and an uphill struggle getting clients, which defeats the whole purpose of freelancing in the first place.

 

Griselda Kumordzie Togobo is a business consultant, speaker and coach dedicated to helping business owners increase their profits and productivity. She is a chartered accountant and holds an MPhil in Industrial Systems, Manufacture and Management from Wolfson College, Cambridge University.

I’m also an Enterprise Ambassador at Leeds University and guest lecture on entrepreneurship.

I founded AWOVI Consulting after a career with an international professional services firm where I provided business advisory services to small and medium sized Enterprises, Charities, The NHS and blue-chip companies.

I also own and run Forward Ladies where I am on a mission to make a difference in the lives of entrepreneurs as well as career women. Check it out.

 

 

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networking

Essential Networking for Business Success..Back to Work after Divorce

Published on
Yvonne witter
Yvonne Witter  – International Entrepreneurship Consultant

The mere mention of ‘Networking’ will elicit a different response, depending on your personal experience of networking.

Some people who dread ‘Networking’, wail, “Oh, I can’t just walk up to strangers and start chatting!” or “I would not know what to say!” they exclaim.

Some people feel a little embarrassed to take that first step, smile, and with outstretched palm say, “Hello” to a complete stranger.

What often happens is that people attend business networking events with a friend.  The ‘security blanket’ makes you feel better and it’s a great opportunity to catch up face to face instead of via social media.

So whilst it releases the anxiety of being ‘alone’ in a room full of strangers, this kind of strategy defeats the whole purpose of being there.

I know, because years ago I used to do it too. I would only meet those that were brave enough to interrupt my animated conversations with my friend. I had no defined goals or strategy and couldn’t quite see the point of it all.

Over the years, I realised that there is a definite purpose to networking, as I too have been hosting my own events for 10 years.

Some people are definitely more adept at networking than others. However, it is a necessary business activity, and preparation is vital, especially for those who are slightly uncomfortable with the whole idea of networking.

The first rule of preparation is to choose events that are appropriate to your need, in that the speakers are of interest, the attendees are people that you can sell to or, who might be interested in buying from you.

Ask yourself if the event will attract attendees with whom you might want to become business associates, to strengthen your own sphere of influence?

Grooming is important and fresh breath essential.

You will be standing, and often balancing a drink and a plate of canapés, whilst also clutching your handbag. I prefer those events where the waiters serve canapés and drinks to you throughout the evening. If you are prone to speaking quickly, then speak slower, so that you can be understood. Never speak with food in your mouth.

Avoid jargon, swear words and topics of controversy. Understand and respect personal space, being mindful to stand a couple of feet away from the person that you are speaking with.

Networking is essential to the micro business owner, who is reliant on good client relationships and referrals, in the absence of sophisticated marketing plans with large budgets attached!

Having an end goal in mind is essential. There are different types of networking events, and small groups are easier as everyone usually gets the chance to introduce themselves, and it’s therefore easier to identify whom you need to speak with.

Networking Goals

  • To meet with specific people identified, prior to attending, from the guest
  • To speak with a defined number of people as a
  • To distribute your contact information or promotional materials to a defined number of people
  • To have an exhibition stand at an event to promote your goods and services
  • Raise your personal
  • To meet a number of potential new
  • To acquire new business
  • To learn from experts
  • To expand knowledge base in a particular

How to do it

  • It is really important to practise your introduction before you leave home until you get used to saying who you are and what you do. Not your job or position title but what is the difference that you make. So, instead of “I am an accountant” try “I manage a budget of £30m for allied homes who provide affordable housing for low income families”.
  • Remember to use open questions (What, Why, How, Who, When, Where) this will encourage people to talk more freely especially if the subject is not too personal.  A compliment on a handbag or personal item is a good one. It breaks the ice and is not intrusive.
  • Practise your listening skills – very important to know how to be an active listener.  Not to interrupt others in flow, and to respond to what has been said in acknowledgement, [nodding] or the seeking of clarification, or affirming what has been said, also suggests that you were paying attention.

Of course, the aim of networking is to see many people, so gracefully thank the person that you have been speaking with, with a polite offer to contact them again, [only if that is your intention] and exchange cards or contact information and move on.

Networking is about building relationships with people, so it is good practice to follow up next day by email or telephone call and start on building a relationship with the key people.

Practice makes it all the more easier, and after a while you will be churning over business based on referrals, and introductions from people you meet via networking events.

The Divorce Magazine - TDM“I had to make my own living and my own opportunity! But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them!”  – Madam C.J. Walker, creator of a popular line of African-American hair care products and America’s first black female millionaire

Winner, Southwark Business Woman of the Year in 2009 for contributions to Enterprise Development, Yvonne Witter is an International Entrepreneurial Skills Development Consultant and Trainer, working across ASIA, UK, Caribbean and Africa.

Working across Micro Small Medium Enterprise and Social Enterprise, Yvonne is an expert in Entrepreneurship policy and practice with ample experience in strategic development and management of enterprise and new business start up programmes.

Particularly known for her innovative work on Women’s Enterprise, Yvonne holds qualifications in Coaching Organisations Change, Project Management, Adult Skills Training.

Yvonne is also a Churchill Fellow.

Yvonne has an upcoming event in April.  You can see all the details here – DIVERSITY BUSINESS SEMINAR AND NETWORK

 

 

photo credit: NY_Alumni_ConnectionsConversations via photopin (license)

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