How Entering Awards Can Help Your Business

 

We have a growing number of business awards designed to celebrate the achievements of commerce. These events are generally accompanied by a glitzy ceremony and champagne, but are they really worth entering?

Business owners time is so precious, arguably our most precious commodity, so is the time invested in applying for awards really worthwhile?

Well, (and here is my unashamed opportunity to show off a bit!!) YES, THEY ARE.

What Are Business Awards?

There are a range of awards in the UK established to recognise the achievements of the country’s businesses. Some celebrate major national and international firms but there are also many events geared towards the innovative, small businesses that form part of the bedrock of our economy.

Business awards tend to be judged by an expert panel who assess applications made in a variety of different categories. For example, award categories might recognise achievement in fields like digital engagement, marketing or growth. Most business awards also have ‘business of the year’ categories, where the winner of which is often drawn from the winners of each of the other categories.

 

Why Should You Enter?

Entering provides a range of potential advantages – whether or not you eventually win.

Gain credibility for you and your business

Winning, of course, brings obvious advantages. Reputable business awards can generate significant amounts of publicity, and this can have a direct and dramatic impact on your firm. Just as importantly, winning a business award clearly differentiates you from your competitors, and can provide a real competitive advantage when seeking or retaining customers.

If you win just one business award, you have become an award-winning business. People will want to do business with you and buy from you. This can increase your sales, your potential suppliers and clients, and can often help you to attract new employees; all of which can facilitate additional growth of your business.

 

Take a Deep Dive into your Business

Entering awards is an excellent way to stop and reflect on what you have achieved and how you have achieved it. You’ll learn more about yourself, your business systems and what your clients really want from you. It will also help you to identify ways to further improve your business.

The application process for awards is often a very rigorous process which can provide you with a valuable opportunity to properly appraise your business. The process will often force you to adopt a new perspective on your business and encourage you to identify your strategic strengths and weaknesses.

The judging process is much like a benchmarking process, your application will be compared against other firms which are often of a similar size. So the process may give you an opportunity to assess your position compared to your peers and competitors.

 

They Are Often Free but The Time Is Well Invested

Often business owners are so overwhelmed with the day-to-day running of their businesses that they do not get a chance to sit back and review their business. Rarely do they celebrate success, too often just focusing on what needs to happen next.

The majority of business awards are free to enter, so you really have nothing to lose. All the time you invest can help your business improve, if you win it is a big bonus.

 

The Impact of Awards

Many of my clients are multiple award winners and it is always interesting to hear about their awards, celebrate their successes and discuss how we can capitalise on their achievements. Their awards also provide me with excellent opportunities to promote and recommend their businesses to relevant businesses that I meet. It has been a fantastic opportunity to monitor the progress of their businesses, ensure they are keeping on track and of course they offer great PR opportunities.

In the last 24 months I have entered 4 awards and won 3; all for business planning and business growth. I had to invest some time to enter but the rewards are certainly worth it.

In the short term, receiving the awards and the following celebrations were obviously very, well, rewarding and of course good fun. But beyond that they offer a lot of long term benefits for your business.

 

How Do You Find the Right Awards?

Applying for business awards can be a time-consuming exercise so it is important that you choose your battles carefully.

So which awards are really worth applying for, and which should you steer clear of?

Perhaps the primary factor to remember is that not every business award will be right for you. For example, it may not be appropriate for you to compete with huge multinational corporations, so you need to identify the awards that are geared towards businesses like yours. Once you have found the right awards you need to work out which categories you should be applying for.

When choosing categories make sure you play to your strengths. Which fields does your business really excel in? Have you had exporting success, or have you developed truly unique marketing strategies? Entering multiple categories will increase your workload and may detract from the quality of your applications, and remember you still have a business to run.

 

Business Excellence Awards (BEF) 2018

As always, here we come to make sure you’ve got ACTION to take right away.

The Business Excellence Awards were created to recognise the ‘Best of the Best’ in the business world; the awards ceremony honours the achievements and accomplishments of business owners and professionals from around the world.

The European Business Excellence Forum and Awards 2017 comes to Liverpool in April and you have the chance to gain recognition in front of more than 1800 European business leaders.

Take a look at the categories and sign yourself up to hear some world class speakers here, or as always get in touch and I can help you with the process.

Use this as an opportunity to grow your business and your profit. Attend the UK leading business event BEF and enter some awards.

Good luck!

BEF 2018 Speakers:

Baroness Karren Brady of Knightsbridge CBE,

  • One of the most influential, high profile and respected female business leaders in the UK.

Andy Bounds, 

  • Awarded the title Britain’s Sales Trainer of the Year,

Sharon Lechter CPA, CGMA

  • Entrepreneur, best-selling author, philanthropist, international speaker and mentor.

Michael Heppell,

  • The Sunday Times No.1 International best-selling author of 6 books

Brad Sugars, 

  • ActionCOACH Founder and Chairman Brad Sugars is recognised as the world’s number 1 business coach.