'A constellation of wellbeing': Five things we learned this week

It never ceases to amaze me how many businesses have successfully pivoted since the thing that shall not be named first reared its microscopic head.

What also amazes me - in the example below at least - is how businesses that have changed their models now describe themselves. This time last year, Colomba Online was a wellbeing and events studio. Now, it's a "constellation of wellbeing". Keep reading to find out exactly what that means…

5. How to ask our founder Emma Jones for business advice

Email us your question and it will hopefully get answered in the next edition of Ask Emma anything. It's that simple.

That's what Tammie, Emilia and Louise did - now they know when to turn a hobby into a business, how to deal with imposter syndrome, and how to get more newsletter subscribers.

4. How to pivot if your business is 'a place of gathering'

In the middle of the banana-bread-baking phase of the first lockdown back in April 2020, Hiba Binz understood early on that her business, a wellbeing and events studio - as she puts in, "a place of gathering" - would be hit especially hard by the pandemic. "When I later received the government's COVID-19 small business grant, I realised it would only cover a few months' rent - and I wouldn't be generating any revenue anyway," she told us.

"So I decided to pivot the business by launching Colomba Online. I harnessed my existing network of freelancers, dance instructors and videographers to create a 'constellation of wellbeing'. Within four months, we had an online platform with an initial offer of three on-demand courses in dance, mindfulness and creativity. Colomba Online is a place where many have found inspiration to get out of that rut, to learn something new, and to find calm, zen and joy."

3. How to use any money you raise for your business

When I launched a travel business in 2014, I spent the majority of my Start Up Loan on a website and some very, very comprehensive terms and conditions. There wasn't a huge amount left over for marketing, which meant I had to find other ways of getting noticed. Which was fine, just about. But not ideal.

How, then, to plan where the money you raise goes? Well, hopefully this helpful guide will… help. Aside from breaking down the two core areas that need funding - upfront expenses and working capital - it provides a list of fundamental things that the majority of small businesses must spend money on.

2. 'Cashflow is the most important document you can have'

"There was a point in my corporate life where I hated cashflow, because it was just painful. But now I love it. I absolutely think it's just the most important document you can have - not because it defines you, but because it writes the story of what your business is doing in the one common language across everything you do: cash."

The very wise person who spoke these words is our Local Leader for Redhill, Reigate, Gatwick and Crawley, Steve Jebson - specifically during a video the two of us recorded for Vodafone Business. 'Cashflow is not a dirty word' was just one of seven tips he shared; watch the nine-minute video now - go on, now! - to find out what the others are.

1. There's a 'need to create a new partnership between an active government, enterprising business and the British people'

So said Labour leader Keir Starmer during a speech about the economy delivered yesterday, in which he also pledged to boost funding for the Start Up Loans scheme to help 100,000 new entrepreneurs across the UK.

Starmer added that previous Labour leaderships had failed to realise "that the only way to deliver social justice and equality is through a strong partnership with business". Under his leadership, he explained, "that mindset will change" because he "believes in the power of active, enterprising government working alongside British business".