Invest Wisely - become a Trustee

Statistics often paint an interesting picture. So here are some key trusteeship related statistics from last year.

• Estimated 1million trustees in the UK supporting,
• 181,000 charities which control around £53 billion of income,
• Around 50% of these charities have an unfilled space on their board,
• 39% of boards report difficulties in recruiting trustees,
• 81% of boards use word of mouth to recruit,
• Only 5% of the population are aware of trusteeship as an opportunity to support a voluntary organisation,
• 66% of trustees are aged over 50, 20% are over 70 and the average age is 57,
• only 0.5% of trustees are aged under 24years (despite 12% of the population being in this age group and apparently only 300 (three hundred) trustees in the UK are known to be under 18).

So what do these stats tell us? Are these issues, problems, challenges or opportunities?

Encouraging individuals to become trustees is an on-going challenge. NCVO have recently released a Prezi presentation outlining some of the reasons to become a charity trustee. Something to refer people to when they ask about trusteeship?

http://prezi.com/r838a2q3bvhk/become-a-charity-trustee/

When you visit the Trustee Bank have a look at the opportunity to lead Wessex Heartbeats' board

http://www.ncvo-vol.org.uk/vacancies/chair-trustees-wessex-heartbeat

Who is your Valentine; Cupid or a fish?

Some creatures have almost magical abilities to recover from trauma. For example starfish can regenerate their legs, and worms can survive being cut in two, although only the part with the heart! However, these feats pale when compared to the zebra fish, which can fix a broken heart. These common little black and white striped fish have nothing to do with soothing jilted lovers, but amazingly zebra fish can regenerate heart tissue. They also have the ability to regenerate fins and eye parts.

Harvard scientists surgically removed 20% of the heart tissue of ten adult zebra fish, then put them back in the water to see what would happen. At first the fish swam weakly near the bottom of the tank; a microscope revealed that in the early stages of recovery, scar tissue partially clotted the wounded organ.

However, after about ten days the fish were back to their normal routines, swimming vigorously. Of the ten fish with broken hearts, eight fully recovered. Another microscope inspection revealed that the recovered fish had regenerated their heart tissue with virtually no scarring.

How, exactly, zebra fish mend their broken hearts is of great interest to scientists. When people recover from a heart attack their hearts are never quite the same. A healing heart normally accumulates scar tissue instead of muscle growth. The scarred, weakened heart cannot contract and pump blood as efficiently as an undamaged heart.

Since zebra fish and humans share many of the genes responsible for cell regeneration, further study may lead to techniques for scar-free human heart repair.

Finding Your Perfect Customer

Nearly every book on marketing will remind you that you need to identify your target market and offer something that meets their needs. But what if when you do this you identify a group of people or a product or service which leaves you cold?

Working with your perfect customer and the services and products you offer should really excite you. If it doesn't, it's bound to have a knock-on effect on the perception of customer service and certainly impact your bottom line. But if it doesn't excite you why would you want to be doing it anyway?

So in an ideal world you want to be dealing with people with whom you share interests, values or enthusiasm. So how do we find the ideal customers?

Start by listing what you enjoy, what's important to you. Can these be incorporated into your business? If your business reflects your interests the likelihood is you’ll attract other people who share them. You're more likely to be able to build rapport with them, and you can be more targeted (and successful) with your marketing, both externally and on-site.

Create your values around what is important to you. If it's important to you to use sustainable resources, or care for the environment create your values around these principles.

Your core beliefs should really influence what you offer; whether you focus on just one of those beliefs or a number, it's a combination of these that add up to make business different.

One way of really capitalising on your interests and capture the interest of your customers is to become an expert in something that they and you are interested in. In addition to attracting the type of customers with whom you can build a good rapport and a better prospect of repeat business, it also gives you a great opportunity to get noticed. By writing articles, blog posts, guidebooks or maybe even organising clubs or seminars around your interests or topic, you'll be on the radar of people who share your interests, which in turn enables you to build your prospect list. It also provides a great opportunity for PR.

Any of these ways of tying in your interests into your business not only enables you to enjoy what you do and who you work with, but is a great way of being unique and really standing out from your competition. If you have a very niche interest it will translate into a very niche target market!

Jeff Bucchino, "The Wizard of Draws" 

Competitive Advantage

There are more opportunities than ever before for SMEs to embrace CSR to improve profits, whilst playing a more productive role in their communities. Take social media for example, with an innovative and strategic approach to CSR combined with the audience exposure of platforms such as Facebook & Twitter the potential is incredible. This is further fuelled by the Generation Y demographic and rise (even through the economic crisis) of ethical consumerism.
Regulation is coming, slowly, but it is coming in one shape or another. The key is better regulation rather than more regulation as CSR should be integrated into core business anyway. We already have CSR legislation as part of UK Company Law, it’s not burdensome by any means but it already exists.
Progress at the global level is accelerating toward an even deeper embedding of the CSR / sustainability agenda for a multitude of unavoidable reasons such as climate change, resource depletion, energy security, biodiversity, population growth and water scarcity.
CSR is beginning to demand to be seen as a competitive advantage rather than a burden. It is like any other commercial pressure, you can ignore it, comply or embrace and excel.

Online Fundraising

Income in the Third Sector is disproportionately distributed – this also applies to online fundraising sites. The majority of these sites are dominated by larger charities. Larger charities are also on those sites that target the smaller charities and the smaller charities simply do not have the resources to compete. The majority of these sites charge set up or monthly fees and often a fee per transaction as well. This has a disproportionate impact on smaller charities.

Charities income sources can differ according to their size. Many of the smallest (50% have under £50k income) are reliant on cash donations and cheques from local community based forms of fundraising.

Generally amongst the smallest charities there is a lack of knowledge and understanding about online fundraising, also for some a lack of IT equipment and skill in their organisation. Many are run solely by volunteers. The majority of the Small Charities Coalition’s members say they have no experience or rate themselves as beginners in online fundraising. Of the 85% of them who ask for help with fundraising an increasing number are asking for help with online fundraising.

Advice to small charities:

• Do your research and find out about fees. Some provide additional support with the development of the charity’s page which might make the fee more reasonable.
• Do your sums – calculate whether a lower transaction cost will offset a higher set up fee or vice versa. Be realistic about how much you are likely to raise from this channel and assess whether it enough to outweigh the costs – don’t forget you also need to factor in the time to set up and maintain your web presence.
• Register for Gift Aid – until April 2011 you will get 28p extra for each £1 given if you do and the donor has completed a deliration. It is crucially important that you encourage all your donors to use Gift Aid, if they are eligible.

 Advice to donors:

•  Also do your research and sums – which site will pass on the best deal to your chosen charity
• Use Gift Aid and other forms of tax effective giving – payroll giving, CAF account

 

The frustration with meetings!

I get very frustrated when I go to meetings and find that the other people there aren’t really there at all. They spend an inordinate amount of time thinking their own thoughts. They are not prepared for the meeting and they think that by repeating a point already made they will show that they are contributing. However, by far the biggest frustration is the lack of listening. Although most business leaders will say that listening is extremely important, research indicates that we actually spend 75% of our time not listening and when we do listen we only recall about 25% – 50% of what is said, even when we really pay attention!

So what are we actually listening to when we listen? Only 10% of our message is communicated through words, while 50% is our body language and 40% is the tone of our voice. That is one of the reasons why communication via the telephone is fraught with misunderstanding.

Coming back to the problem of really attending meetings here are some points to consider;

• During the meeting be aware of how often you are not thinking about what others are saying rather thinking about your relationship to them and how valid their contribution is. Put this judgement to one side and concentrate without preconceptions,
• Be aware when your mind is drifting off on your inner conversation and make the effort to focus on the speaker’s body language, tone and words,
• Notice how your mind jumps to conclusions or want to “make a point” rather than listen and understand. Which is more interesting: understanding what the other person is trying to say or making your own point?
• Take note of yours and other people’s physical gestures, as this tells you a lot about their attitude and readiness to listen too.
• Notice when someone’s words say one thing and their tone of voice conveys a different message. Which message has a greater impact on you?
• Above all be curious, when appropriate, asking questions and probing to better understand and clarify what others are saying rather than trying to second guess them or jump in to make your point.

Mentoring for Success

Over the past year I’ve been working with Mentor-net. Mentor-net is the business mentoring scheme for Hampshire and the Isle of Wight. It is a confidential service provided by the not-for-profit Mentor-net program and volunteer Business Mentors, who are drawn from experienced members of the business community and the professions. I would like to extend my experience to people who are not part of this wonderful service.

My understanding of a mentor is essentially a ‘wise or trusted adviser or guide’. The word has its origins in Homer’s The Odyssey. Before leaving to fight the Trojan war, Odysseus leaves his son and estate in the care of his friend Mentor, who then guides the young Telemachus. I rather like this connection as Telemachus's name in Greek means "far from battle” and mentoring is most definitely a relationship of support .

To give it a more modern context, I see a mentor as someone with experience or wisdom, sharing and imparting their knowledge on to someone younger or less experienced. The concept works incredibly well in a business environment where an entrepreneur may have a great idea for a business but needs a bit of guidance turning it into a successful and profitable venture. Successful entrepreneurs will often attribute much of their achievement to the support and guidance they received from a mentor. Most notably, billionaire airline and entertainment industry mogul Richard Branson was mentored by the British airline entrepreneur Freddie Laker.

A business mentor is someone who can act as a sounding board for your ideas and plans. They bring their own unique experience of life and business and are willing to share their skills and knowhow with you. Having a business mentor can help you to focus, to look at your business from a different perspective. This is essential to identify strategies and opportunities for improvement and growth.

As a business mentor I am not a consultant, I will only mentor from my own experience. By acting as a sounding board for you, I walk alongside you as your business grows. My role as a business mentor is to support and develop, stimulate and challenge.

The way you choose to approach mentoring will be dependent on how much involvement you agree to, or request me to have with your business. I can work extremely closely with you, speaking or meeting most weeks or even days. However, in most cases I will have less of a day-to-day involvement. Instead I’ll provide help every few weeks or months which could take the form of phone calls, emails, face-to-face meetings or a combination of all of these.

Mentoring can be a very formal and structured process with regular meetings which follow a specific agenda and set of goals. It can also be quite a casual arrangement, where you as the mentee calls on me as and when problems or questions arise.

The main thing to remember about mentoring is that it’s not just a one-off meeting, or opportunity to pick my brains. It’s an ongoing relationship where both parties must be committed to achieving certain goals and willing to live up to their end of the bargain.

If you’d like to try it out please visit my mentoring site and we can arrange a taster session.