Month: August 2020

Pub-goers want to keep ordering on apps rather than the bar when Covid-19 restrictions ease

When lockdown lifted, many pubs and bars across the country implemented digital ordering systems to adhere to social distancing.

New research out today shows that 80 percent of pub-goers that have used such systems want pubs to keep the service available even after guidelines change.

According to the study commissioned by Flipdish, almost two-thirds of respondents said they are now more likely to visit a pub or a bar with a digital app and over half would actually miss ordering drinks via an app if it stopped. The preference for digital ordering intensifies among younger demographics and women. Only one in seven of 18 – 24 year-olds surveyed prefer queuing at the bar and women are half as likely to do the same compared to the men.

Customers that have experienced digital table ordering since lockdown say the top benefits are: not needing to queue, not losing table and

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Small businesses should re-invest nine percent of profits to succeed

A quarter of small businesses say re-investing profits back in the business is one of the most important factors driving the success of their business

A new study has looked to quantify exactly how much UK small businesses should be re-investing to succeed post-Covid. The study analysed data from over 1,000 companies and ranked their success on a scale that evaluated factors including productivity, growth, consistency and outlook.

In the post-pandemic marketplace, businesses will be focusing on recovery plans and survival, but Covid-19 has proved it is more critical than ever to plan for the future. Re-investment may be deprioritised during the crisis, but it is essential for small businesses to grow.

The study found that a quarter of of small businesses say re-investing profits back in the business is one of the most important factors driving the success of their business. This was the most commonly cited factor driving

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Never make forecasts, especially about the future

If you could predict with absolute certainty the exact moment each opportunity in your company’s sales pipeline would convert into an order, wouldn’t life be marvellous.

The Hollywood movie mogul Samuel Goldwyn is reputed to have said “never make forecasts, especially about the future’.  Whilst these may appear (especially in current times) wise words, if you’re running a large order complex business, Sam’s quote is unlikely to be an escape route from having to say, “What you expect to happen in the future”  when it applies to your sales (and cash flow) forecasts.

With that in mind, here are some tips that might help you get your sales forecast closer to right than wrong.

Measure your accuracy

If you work in an environment where your forecast accuracy is measured for you, be grateful that someone is helping you improve your forecasting ability.  If you don’t, start to measure it

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