Our 10 New Years resolutions for businesses looking to grow in 2012
Did you know that out of the all of the people that make New Year's resolutions only 12% manage to keep them!
One of our own New Year's resolutions is to grow our RM2 Community page and we would be delighted to hear from other firms interested in pursuing a strategic alliance.
We have also come up with ten resolutions for businesses looking to grow in 2012 and refer you to the companies that offer the help needed to keep your resolutions.
- For our business in 2012 we will: look into key man insurance. Think about your key staff, not forgetting yourself, and what would happen if one of you were to die or unexpectedly not be able to work. How would the company cope and how would the spouse cope financially? Advisers such as Magus can help put safeguards in place both for the business and for the spouse to ensure both can cope if the worse were to happen.
- For our business in 2012 we will: reduce the cost of our IT systems and applications. Read the great money saving tips provided by Lucidica here. The top tips include where to use great free applications!
- For our business in 2012 we will: ensure all our contracts of employment and HR policies and procedures are up to date. JMA HR & Legal provide legal services surrounding employment law and are able to consult on HR matters. They also wrote an article for us late last year about employment contracts and the relationship with the offer of share options.
- For our business in 2012 we will: source funding. Companies such as Route to Funding provide support throughout the company's progression in order to secure funding. To find out what investors look for and how Route to Funding can help you then see here. If you are an early stage entrepreneurial TMT company then the Accelerator Academy programme is for you. The programme provides mentorship to help you get your business investment ready and then facilitates investment. RM2's Liz Hunter is a course leader for one of the modules. For information about the programme see acceleratoracademy.com
- For our business in 2012 we will: review and benchmark our pay structures to ensure that they are comparable and competitive to minimise the risk of losing talent to industry peers. With the help of reward consultants like Innecto pay structures should act to reward, incentivise and retain staff. If you wish to discuss any pay structure issues you have, please contact Deborah Rees at Innecto Consulting on 0207 268 3664 or email: Deborah@innectogroup.co.uk.
- For our business in 2012 we will: join and participate in a relevant networking group or association. It is lonely at the top and CEOs of businesses in London and surrounding areas should consider joining the Entrepreneurs' Club London, a group of leaders wanting to help and add value to society through mentorship. Intellect is a trade association that represents members in the UK technology industry and Vistage offers executive coaching across the UK. If you are in the recruitment sector then Elite Leaders could be a great source of support for you. RM2 are part of ifs-ProShare which promotes and encourages employee ownership and employee share scheme use.
- For our business in 2012 we will: consider putting a shareholders' agreement in place. If you have more than one shareholder this could be essential. Please call us directly on 0208 949 5522 to discuss this.
- For our business in 2012 we will: invest more time in social media. With the increasing power of social media, RM2 have found both Twitter and LinkedIn useful in keeping and making contacts as well sharing our services and knowledge. Please connect to the RM2 team on LinkedIn by viewing the Meet the Team page and follow us on Twitter @rm2partnership.
- For our business in 2012 we will: reduce our employer's national insurance contributions. Instead of paying ineffective cash bonuses we will look into how share schemes can deliver tax savings and work as an effective retention tool.
- For our business in 2012 we will: look into succession planning. Succession planning in any business is extremely important and it is never too early to start thinking about this.
If you would like help in ensuring that you achieve your New Year's resolutions then contact the RM2 team on 020 89495 522 and speak to one of our advisers. Alternatively you can visit our community page and see which Company can help you.