With a huge population and a constantly evolving market, London is a hub for businesses of all sizes and industries. This does, however, mean there is competition out there. So, for your business to thrive, it’s important to equip yourself with the necessary skills to navigate the rough landscape and come out on top.
Steer clear of common pitfalls when conducting business in London by following these universal tips.
Manage your time better
It’s not until you start to manage your own business that you truly realise how precious time is. When operating in the Capital, you want to make sure that you use your available hours efficiently. If you find that there aren’t enough hours in the day, it’s time to start freeing up some time.
Whether it’s hiring more staff or utilising technology to simplify and reduce manually laborious tasks, you’ll find that you’re left with valuable time to focus on the things that matter. You may even consider contracting out some of these tasks to professionals in the area. For example, you could look to outsource your accounting in London or have a third party keep track of your payroll.
Connecting with local communities
While you may not instantly associate London with a strong sense of community, findings have shown that people’s sense of community in the Capital is in good health. In fact, 75% of locals say it’s important to them that they feel a part of their community.
Tapping into these communities is key to attracting consumers in the area and making your presence known in a positive way. These residents tend to favour supporting local businesses, especially those that reward them for their loyalty.
Perfect your marketing
There’s no doubt about it, marketing is a must for any business – especially those in such a busy city. How else do people find out about your startup? You don’t necessarily need to be an SEO or PPC wiz to get the word out about your company though as there are plenty of digital marketing companies located in London.
Effective SEO can take a while and requires a good strategy to boost your visibility and reach. In the meantime, try to create an engaging website and various social media pages. Since people can interact with your posts and share with their followers, it’s practically free advertising.
Increase your networking
Forming relationships with other businesses in the area can be an effective tool for boosting your brand. Not only does this provide you with helpful advice about what not to do but you can also gain valuable insight into ways of expanding your business.
You may even come across different suppliers, where you can gather your resources for a cheaper cost, or form a partnership, in which you can reach new markets and target a much wider audience. While in-person networking always guarantees some success, expand your horizons and look to utilise online platforms like LinkedIn.
Photo credits: Coworking London