The Dragons’ Den star reveals a “forgotten area” that could aid small firms in their growth.
Exclusively with This website, DRAGONS’ DEN star Piers Linney gave his best recommendations for small enterprises to prosper post-pandemic.
Piers Linney, a former Dragons’ Den panelist, has shared his top advice for helping small businesses thrive post-pandemic. Mr Linney, a supporter of small and medium-sized businesses, believes that now is the moment to examine one’s business in order to go forward.
Mr Linney is an outspoken advocate of the entrepreneurs who fuel Britain’s economic success, and he has issued five vital items of advise to small firms to assist them take advantage of the brighter economic prospects that lie ahead.
“Small firms have fewer resources, so it’s critical that they’re focused on producing the most value,” he said.
“Doing more with what you have results in increased earnings and lower operating risk.
“In comparison to other nations, UK small firms have lower productivity due to a low use of technology, particularly to automate time-consuming and tedious jobs.
“Conducting effective and frequent reviews is a sure-fire strategy to consolidate present resources, find areas for development, and boost your company’s overall efficiency.
“Ask yourself if you’re getting the best bargain on every outgoing cost. If the response is anything other than ‘absolutely,’ look into the possibilities of renegotiating, reducing, or even eliminating it.”
“Time is of the essence; make the most of it.
“Be merciless with your time when it comes to chores that may easily be automated with the right tools, or even outsourced if costs are acceptable.
“The financial part of your organization is an important, yet often disregarded, area to evaluate. All of these activities, from day-to-day accounting through invoicing and spending, can be automated.
“Automation not only frees up time for you to deliver better customer service, but it may also help you save money, boost employee satisfaction, and grow your business.”
“Since the monopoly of huge corporations began – and was exacerbated by the Covid disaster – the sad fact that smaller, owner-led enterprises have been undervaluing themselves and leaving profit on the table has surfaced.
“Regardless of the field in which your company operates, it is critical to always understand the value that your company adds to the market and sell your products or services accordingly.
“This is true for even the most basic decisions, such as price. Do you have a price for your “Brinkwire Summary News”?