Sports stars turned small business owners have revealed how a sporting mindset can help gain an advantage in business. Familiar faces from football, rugby and weightlifting claim that a ‘marginal gain mentality’ (a sports psychology term referring to incremental improvements made to significantly increase performance) has enabled their companies to succeed. Former Aston Villa striker, pundit and property auction business owner Dion Dublin said his sporting marginal gain mentality has helped him apply little tricks, such as focusing on teamwork and employee motivation, to create continuous improvement that has led to his business flourishing. Wales and Ospreys Rugby star George North has told how adapting to modern technology and dealing with pressure made a difference to his motorcycle café startup. Scottish weightlifting champion Sheli McCoy believes setting small but consistent goals for personal development and business growth has helped her business move in the right direction. The Stars have teamed up with Smart Energy GB to create a digital guide and show other small business owners how making small changes can work across all areas of the business and help them feel more in control. Small Tips for Small Businesses, [https://smart-meters-for-business.smartenergygb.org/how-can-a-marginal-gains-mindset-help-small-business-owners]It follows research that found 90 percent of 640 small business owners were intrigued by the thought of marginal gains. And of the 84 percent who have already implemented this approach, 9 in 10 reported seeing tangible benefits. Some of the most significant marginal earnings improvements they might try were around small but achievable performance goals (28 percent), greater focus on motivation (25 percent), and using technology for better data analysis (23 percent). But this was not the only similarity found between sports and business; teamwork, leadership and management, overcoming setbacks, and clear end goals were other examples of the synergy between the two. It also found that 69 percent want to make changes to the way they run their business, but they’re not sure where to start. Dion Dublin, who runs LOT9 Auction House, said: “Setting small but consistent goals for my team of eight works because they are achievable and motivate everyone. “Team communication is crucial to the success of my business; it means everyone understands the goal and is on board with what we’re trying to achieve. “What I’ve learned in sport has really helped me in my job and that’s why I wanted to be a part of sharing tips with others. I know how difficult it can be to run a small business. ” The study also found that making changes that will benefit their business, saving money and being more mindful of budgeting are the areas where they think marginal gain hacks will mostly help improve, with 58 percent saying they are more concerned about energy costs this winter compared to last year While 86 percent claim they cannot afford to waste energy, OnePoll data shows that while 75 percent of respondents said they had a smart meter at home, only 67 percent were aware that they were also eligible for a smart meter at their workplace. Accurate billing and residual estimation The absence of bills was seen as the key benefits of getting smart meters, as was the fact that they could help identify where cost savings could be made. Victoria Bacon, from Smart Energy UK, said: “The concept of marginal gains shows that even small, inexpensive changes can make a big difference. “Our research shows that energy bills are still a concern for many this winter, and small business owners are being mindful of wasting energy and its impact on their bottom line. One small thing they can do is install a smart meter, which will give small business owners greater visibility and control over their energy use.” “It helps; it’s a big help with financial planning and cash flow management.” George North, who now runs café and retail space Baffle Haus, believes the marginal gains approach works brilliantly for SMEs. He said: “Sometimes small steps in the café can be as simple as ensuring the lights are turned off completely at night, or turning the dishwashers on just barely.” Once it’s full, we turn it on. “In sport you learn to work well and perform under pressure, and I took that skill with me when I managed the café. “I’m also a big fan of technology in monitoring and assisting with my performance, both in sports and business.” ADVICE FROM SPORTS STARS AND SMALL BUSINESS OWNER * Use your resources wisely – When Dion Dublin was captain of Cambridge United, we didn’t have huge amounts of money to spend on players, so we used what we had on things like training and equipment to develop our team. In small businesses, you also need to think about where your money goes and how it’s spent. That’s why we have a smart meter at Lot9; It tracks our energy use in near real time so we only pay for the energy we use – a real help in managing cash flow.* Don’t be afraid to do things differently – George North There is no blueprint for success. Don’t be afraid to try things outside your comfort zone This is definitely something I kept in mind throughout my rugby career. I was lucky enough to win the Six Nations three times and we had a different strategy each time. If you stay at the same level, you’ll be left behind while everyone else is catching up. The situation is the same in business life; Whether it’s a new menu item or improved customer service, you need to keep things fresh and exciting for your customers, too. * Quarterly goal setting – Sheli McCoy Goal setting is ingrained in your mindset very early in sports. The same should be true for your business. Setting small, manageable goals helps you focus on making progress, which leads to more significant improvements. Gradually increasing working hours at Sweatbox made it easier for the team to get used to the changes and adapt to the new route. We were then able to add more classes to the program, and by the end of the quarter membership was up 5 percent. KEY AREAS WHERE SMALL BUSINESSES THINK MARGINAL EARNINGS CAN HELP 1. Being more mindful of budgets, expenses and savings 2. Improving employee productivity 3. Improving employee well-being 4. Optimizing logistics 5. Product development 6. Quality control 7. New technology to monitor performance 8. Time management 9. Adopting the latest technology to improve performance 10. Security