Compass Estates 2
20 May

7 Game-Changing Business Insights from Nicola Anderson

Tired of the same old business advice from self-styled gurus? Let's cut through the noise.

We want to learn from honest conversations with local entrepreneurs who walk the walk. These are the real professionals who have repeatedly proven their ability to elevate businesses with methods that actually work. The advice they share is practical and actionable, right what you need to make real changes in your business.

What to expect: diverse expertise, a sense of community, and a collaboration mindset. 

oOo


Today's guest is Nicola Anderson, a dedicated Estate Agent and partner at Compass Estates. She thrives in the real estate industry with a commitment to integrity and excellence. Moved by the all-too-common sight of homeowners receiving subpar service and facing unreasonable costs while selling their properties, she decided it was time to set a new standard.

Nicola Anderson
Nicola Anderson - Compass Estates

Here, she shares her journey of transforming frustration into a flourishing business that puts clients first.

1. Capitalise on Your Unique Selling Proposition

One of the most practical pieces of advice the real estate pro shared with us is to highlight what makes you and your business different in your marketing. For instance, Nicola Anderson and her business partner Judith Mackie's defining difference is their exceptional personal service and high standards.

Anderson highlights her personalised service directly on her social media and the company's website, ensuring that it's one of the first things potential clients learn about her.

And there's more! She made this differentiator a part of all operational decisions and customer interactions. This consistency has strengthened her personal brand in the local market and built customer loyalty over time.

2. Expand with Intention to Maintain Quality

Another key lesson is the importance of avoiding the trap of growth for growth's sake. It's easy to get caught up in the cultural push for expansion, but this mindset can lead to growth decisions that compromise one's core values.

Anderson found a way to counter this trend. "My business is based on moral standing and ethics. To maintain the business's sustainability, I only work with a maximum of 20 clients at any time," she explains.

This approach allows her to spend more time with each client, building stronger relationships and trust. This depth of interaction translates into higher client satisfaction and a positive reputation that naturally attracts more business — which can be more valuable than broader marketing strategies.

3. Measure Impact, Not Just Income

When considering pivotal moments in her career, Anderson doesn't prioritise financial gain but emphasises becoming her clients' preferred agent as the turning point for her business. We can all learn from this that defining success in more personal and qualitative terms can lead to more fulfilling business outcomes.

It's important to develop the right metrics to assess the impact of your services or products on your clients' lives. For Anderson, these metrics include client satisfaction, repeat business, and referrals. They help her make business decisions and choose strategies that may not directly translate into immediate financial gains but contribute to her business's overall health and growth.

4. Be Selective with Sponsorships

Early in her career, Anderson learned that not all sponsorship opportunities led to positive outcomes. While some partnerships enhanced her visibility and aligned with her values, others failed to meet expectations.

"You need to be very subjective when sponsoring events or companies," she suggests. Anderson only chooses opportunities that offer clear benefits and align closely with her objectives.

You should do it, too. Define what you hope to achieve with each sponsorship, whether it's increasing brand awareness, entering a new market, or reinforcing your position in an existing one.

When an initiative doesn't generate the expected results, understand why and use those insights to make better choices in the future.

5. Find Your Ways to Navigate the Marketing "Discomfort"

Anderson candidly admits that marketing isn't her forte, primarily because she is uncomfortable with self-promotion. "However, I know it must be done," she adds. And we couldn't agree more.

Her LinkedIn strategy exemplifies how to step outside your comfort zone as an entrepreneur and do marketing without aggressive self-promotion. Anderson educates her audience, shares valuable advice, and highlights industry pitfalls. Her content promotes her expertise while building trust and credibility, as it helps people understand the industry better.

She also shares customer testimonials and case studies, generally considered a more comfortable form of promotion.

When looking for ways to market your business, choose strategies that align with your comfort level. This way, your marketing doesn't become a barrier to growth but a sustainable practice you can consistently execute and improve.

6. You Can Do A Lot on A Budget

One piece of advice Anderson wishes she'd known sooner is to focus on low-budget marketing strategies — yes, they exist and can be incredibly effective.

There are so many things that you can do without overspending. Sponsor a local event, set up a stand at a local business event, or join a community of business owners. For example, Nicola Anderson is a member of the BNI Hall of Fame (Stonehaven), the world's most-known business referral network.

These strategies are not just for the big players but for entrepreneurs and businesses of all sizes.

7. No Marketing Beats Highly-Customised Services

High-quality services and focusing on smart, targeted improvements can lead to outcomes that traditional marketing alone might never achieve. Here's a story from Anderson's collection of case studies:

"One client had a property on the market for six years. The homeowner was constantly being asked to lower the price, eventually sitting at £60k. There had been no viewings for three years! When I took the property, I asked them to upgrade the kitchen. They spent £2k, and I sold the property within 12 days. We achieved a sale price of £68k. They have referred me to other people and used my services again."

She shared this particular story because it has so many lessons for us:

  • No marketing can replace expert knowledge of market demands and customer preferences.
  • Targeted, thoughtful investments in a product or service can significantly enhance its value and attractiveness, often leading to a quick and profitable outcome.
  • Excellent service and successful outcomes can lead to word-of-mouth marketing, which is often more effective and less costly than traditional advertising.

More about Nicola:

Nicola Anderson is your go-to professional for every aspect of property transactions. From accurate property valuations and effective home staging to managing viewings and navigating the complexities of sales negotiations, she ensures a seamless experience to the point of sale.

Nicola offers a unique, free property check-in service. She provides detailed feedback after each viewing, keeping clients well-informed and engaged throughout the selling process. Acting as the single point of contact for sellers and buyers, Nicola simplifies the communication process, making every transaction as smooth and stress-free as possible.

And now that you know more about Nicola, feel free to drop her a line at nicola@compassestates.uk.

7 Game Changing Business Insights from Nicola Anderson - Compass Estates


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