How to manage your SME experience

Whether your small business experience is a short-term internship for a few months or a more long-term graduate job, it’s important to make the most of your opportunity and use the time wisely. Here are our suggestions:

Make contacts and build your network

Joining a new company will bring you into contact with a wide range of new people, at all levels of seniority. All of these colleagues and acquaintances will become your network – a very valuable resource.

Your first step to successful networking is to create a LinkedIn profile if you’ve not already got one. You can expand your network by connecting with colleagues and acquaintances you will meet through your work. Very often there will be established sector-based LinkedIn groups where you can learn from what other companies are doing in your business’s sector and potentially what contracts are on offer and how to access new work; very important if you are working in a business development or marketing role.

You may not realise immediately how each individual contact will be able to help you but by taking the time to build a relationship – to find out more about them and to share your story – you will soon realise that they can, either directly or by introducing you to someone within their own network.

Try to impress and become involved

In a small business, it is common for employees to get involved with whatever needs doing (especially during busy periods) as well as having their “day job”. So always volunteer to help out other colleagues however routine the task is. Plus, if your manager is always tied up, ask if there is anything you can do to help with their workload. Small gestures can have a big impact and also provides you with an insight into different roles and other areas of work.

Build your knowledge

Learn about what’s happening in your company, its sector and business environment. Take an interest beyond your day-to-day role and you will be developing your commercial awareness. You will also get a better insight into what opportunities a small business can offer you. If you are considering self-employment in the future a period of time working in a small business really gives you an informative insight into the pressures – as well as the plus points – of being your own boss. If you have the opportunity to access any training courses or conferences, welcome these with open arms as these will definitely enhance your CV.

Record your achievements

As you start building your professional experience, whether as a student or graduate, it’s surprising how quickly you can forget what you’ve been doing all day, every day, for months, and what you have achieved. One tip is to record your activities, responsibilities and achievements on a regular basis. As/when you start to update your CV or prepare for an interview, you will have a set of relevant, up to date and clear examples of how you’ve progressed through the work you’ve undertaken.

The Importance of Commercial Awareness

Commercial awareness is:

  • The ability to view situations from a business or commercial perspective and take advantage of it
  • An understanding of what is happening in the business sector
  • An appreciation of business news and its wider impact
  • An awareness of economic issues and concerns

Why it is important to you, as an employee?

  • It demonstrates your interest and commitment to the job and to the business that is employing you
  • It shows you can appreciate the risks, costs and benefits of the commercial activities performed by your company
  • It helps to build relationships with key customers and clients as you understand their environment and what impacts them
  • Everyone in a company (especially in a small business) needs to have this awareness

Why it is important to small businesses?

  • To help develop new products and services to meet changing customer needs and interests
  • To be aware of changing environmental and economic conditions that might impact on sales, production, sourcing raw materials, or staff
  • To take advantage of opportunities as/when they appear, to not be left behind
  • To recruit staff that are motivated and interested in their business and the environment that they are working in

How can you become more commercially aware?

  • Read quality newspapers, especially the business pages
  • Keep abreast of your sector/industry’s analysis
  • Read professional journals, watch the news