SMEs in the City: Getting your team to think more commercially

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SMEs in the City:
Image credit Michael Fousert on Unsplash

Commerciality is a really simple thing. But it’s like most skillsets, if it’s what you’ve inherently been in and around, it comes naturally. If you’ve never been in in a commercial environment, then it is going to seem alien.

It’s imperative to understand that everyone doesn’t think and act the same.

What is commerciality?

The premise of commerciality is predominantly around sales and its delivery. That’s it. Have you sold something from your action? Have you delivered something or supplied something that somebody has bought? Both are equally important.

There’s an understanding in business that there are simply two different sides of the coin in sales and delivery, and nothing more. So, work out which side of the coin you’re on. Are you in sales, or are you in delivery?

Then decipher: what have you done today that has improved or benefited a client, a customer, or a process that’s going to improve multiple going forward?

Unless you’re creating a new product for someone to sell, actioning and engaging with people so that they understand the benefits and wish to transact with the product/service or improve the function delivery or experience of buying that product/service, then you’ve probably wasted your day.

Regardless of how stressed you feel, or how hard you feel you’ve worked, these key areas need to be a constant focus for you and your team.

Keep it simple

In the case of our business, Champions (UK)plc, initially there was just a couple of us in a room off the side of a bedroom. You can work 16-hour days, but if you didn’t sell anything or deliver something you had nothing in the bank, and it’s therefore really simple.

The problem in businesses is that it gets complicated, it gets riddled with politics, riddled with ineffective or unnecessary processes, and a lot of what are called fiefdoms – people building empires within organisations to empower themselves, or to make their position seem more valuable to a business.

Business does not always have to be complicated. It’s how much have we sold, how well have we delivered it? Every modern entrepreneur will benefit from occasionally going back to the absolute core basics of business, which is simply the: ‘so what?’ Have I sold something, have I improved or delivered something well?

If the experience is good, people come back. So sell it, exceed their expectations, and sell them some more of it. That’s business.

If you get that right, then you can grow very efficiently and quickly. Get that wrong, you’ll go out of business very, very quickly.

The importance of commerciality for City SMEs

Establishing a strong commercial presence allows SMEs to attract customers, generate revenue, and expand their market reach. In cities, where consumer preferences are diverse and dynamic, I believe it’s even more imperative to be commercially savvy to help you adapt quickly to changing trends and demands.

Effective commercial strategies enable growing businesses to build brand recognition and loyalty, essential for long-term success in competitive markets.

Ultimately, embracing commerciality will empower you to not only survive, but also to grow and prosper within your sector.

The author of this article is Matthew Hayes from Champions (UK) plc

Champions (UK) plc – Your Growth Partner | Business Consultancy

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