The 10 ‘C’s’ of Performance Insurance

Performance Insurance

We all want our businesses to do well, we want them to succeed and for us to have a business we can be proud of. My 10 C’s listed below will insure that your business performs above and beyond what you might expect. Who knew that there were so many business related words beginning with C that will keep you focussed on your goals no matter whether they are long term or short term.

1. CONSIDER where you would like to be in 5 years time, spend 30 seconds visualising the picture. Who are you with? Where are you? What are you doing? Jot it down and contextualise it. This is what you are striving for.

2. CONSISTENCY. Whichever part of your business you are focussing on, consistency is the key. Your brand, your business has to be seen to be active in what ever it does. If you are known to email your customers 2 a month then don’t miss a month – out of sight is out of mind.

3. CLEAR COMMUNICATION Whether you are talking to your customers, your employees, your suppliers or your accountant, you must be clear about what you require. Share with them your goals and desire so they can understand why you might do certain things.

4. CHALLENGE ISSUES which arise. Sometimes our challenges feel like they come on a daily basis, sometimes we can go months plain sailing. But challenges are put there for you to learn from. Confront (another C!) them head on push through to the other side rather than letting them stop you in your tracks

5. CORE SYSTEMS AND PROCESSES are in place. Aren’t they? No? Well, start thinking about how you could work smarter by implementing them. working smarter using systems and processes saves us time in the long run.

6. CUSTOMER RELATIONSHIP MANAGEMENT How often to you review your database of clients? If you haven’t heard from them for 3 years chances are they have moved on or no longer require your services. Keep your customer database up to date so that you can send relevant mailshots. Keeping your customers happy is KEY to a successful business.

7. CALCULATE your financial performance. Have you kept up to date accounts? Have you invested in a piece of equipment and not checked to see if it was money well spent (return on investment). Knowing your financial position is vital to a successful business.

8. COMPARE yourself and your business to those who are in the position you want be and see what their strengths and weaknesses are. This can give you a clear idea on what areas of your business to focus on

9 CLOSELY monitor where you are at. In the systems and processes you have created (see point 5!) you need to schedule in time to review if you are on track. Do you need to make any adjustments?

10. COACH yourself. Entrepreneurs and self employed people are on a continuous learning journey. One which will see themselves transform from one person into another and then another. As time passes our outlooks on life change as does the knowledge we have acquired. Learning new skills is possibly one the the most important weapons in your business armoury!

Start Up Britain 2014

Thank you to Start Up Britain for providing this information. Interesting to see that Nottingham is ranked number 8 for the number of new start up businesses for 2014.

Is it just me, but I wish we would see a break down by industry.

How many people do you know who started their own business last year? Are you one of them.  Do you need advice?  That’s what I’m here for.

Naming your business

what's in a

Congratulations! You have chosen to become your own boss, you have your business idea, you love it and now you have to think about creating a business name that you are happy to announce to the world.

It’s trickier than you think. Firstly, you want a business name that people won’t forget. Secondly, your business name must not be the same as an already existing business and the domain name must be available, it wouldn’t be the greatest idea to come up with an amazing name only to find that you couldn’t create a website or blog because someone has already chosen it. Thirdly, and there are many things to consider I couldn’t possibly name them all, you must have a business name that you can be confident presenting to the world. Being confident in your business name, for me, is one of the most important considerations.

Some businesses will hire companies to spend months strategising and analysing the market to come up with the perfect name to drive the company forward. I’m guessing that you don’t have the cash flow nor the time to invest in such a way to develop your business moniker so you must spend some time developing it for yourself. I’m sure you’ll be happier with the result once you’ve achieved your perfect business name.

Some simple suggestions are to brain storm alone and then with friends and family who’s opinions you trust. Try not to merge words together, they may seem like a good idea at the time but they come across as forced. Also try to avoid replacing letters for phonetically sounding alternatives – replacing a qu for a k for example. This would make it harder for your potential customers to find you.

When brain storming write down 10 descriptive words about your business, look at your competition for ideas, not to copy them but for inspiration. Did you know that there is a list of words that you can’t use? Check with Companies House for an up to date list. And don’t forget – never make your business name specific geographically. You may be based in and around your county now but who knows where you might be in 3 years time!

Essentially, you need to create a business name that is clear, easy to remember and pronounce, ideally give your customer an idea of your business and most importantly available.

There you go, you have you very own, unique business name – YOU MUST NOW REGISTER IT so that no-one else can steal it from you! Sole traders and partnerships must register through HMRC and Limited Companies must use Companies House to register.

If you need any help, just drop me a message to or tweet me on @ClairCFAR