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How can a marginal gains mindset help small business owners?

According to our research, the majority of the small business owners who have applied a marginal gains mindset have seen improvements in their businesses. But what is a marginal gains mindset? And how can it help you run your small business? We’ve gathered everything you need to know in our small hacks for small businesses factsheet, to help you find the answers.

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What is a marginal gains mindset?

Marginal gains is a term from sports psychology. It refers to making small changes that build up to bigger improvements. Whether you’re on the pitch or in the office, this approach can help you make a difference.

How can you apply a marginal gains mindset to your small business?

Through our research, we have discovered that most small business owners want to make changes to the way they run their business, but don’t know where to start. So, we have worked with sports stars turned small business owners to gather some tips on how a marginal gains approach could help you.

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1. Get a smart meter

Over half of small business owners reported feeling more concerned about energy costs compared to last year. One small, but effective change you can make to help you take control of your energy bills is to request a smart meter.

With a smart meter you may be able to view how much energy your company is using online, in a way that traditional meters can’t show you. Speak to your energy supplier to find out what they offer.

Smart meters also send your energy readings directly to your supplier, meaning accurate bills and an end to time spent submitting manual meter readings.

We believe that Octopus Energy is now responsible for Affect Energy customers. Therefore we are connecting you with Octopus Energy who will be responsible for taking your request forward.

We believe that Yu Energy are responsible for Ampower UK customers. Therefore we are connecting you with Yu Energy who will be responsible for taking your request forward.

We don't currently have information from your energy supplier regarding their bookings for smart meters, but we will connect you to their website so you can contact them directly.

We don't currently have information from your energy supplier regarding their bookings for smart meters, but we will connect you to their website so you can contact them directly.

We believe that Yu Energy PLC is now responsible for Bristol Energy Business customers. Therefore we will connect you with Yu Energy who will be responsible for taking your request forward.

We believe that Pozitive Energy is now responsible for Contract Natural Gas customers. Therefore we will connect you with Pozitive Energy who will be responsible for taking your request forward.

You can continue your smart meter journey at your supplier's website. They will take your request forward.

We don't currently have information from your energy supplier regarding their bookings for smart meters, but we will connect you to their website so you can contact them directly.

We don't currently have information from your energy supplier regarding their bookings for smart meters, but we will connect you to their website so you can contact them directly.

We don't currently have information from your energy supplier regarding their bookings for smart meters, but we will connect you to their website so you can contact them directly.

We believe that Shell Energy are responsible for Hudson customers. Therefore we are connecting you with Shell Energy who will be responsible for taking your request forward.

We believe that Smartest Energy is responsible for MA Energy customers. Therefore we are connecting you with Smartest Energy who will be responsible for taking your request forward.

We believe that British Gas is responsible for PFP Energy customers. Therefore we are connecting you with British Gas who will be responsible for taking your request forward.

To book your smart meter installation, please contact Pozitive Energy's Customer Care Team on 0333 370 9900. We will be taking you to their website now, where you can login for more information.

We don't currently have information from your energy supplier regarding their bookings for smart meters, but you can still visit their website and contact them directly. They will take your request forward.

You can continue your smart meter journey at your supplier's website. They will take your request forward.

We believe that Yu Energy is now responsible for Xcel Energy customers. Therefore we will connect you with Yu Energy who will be responsible for taking your request forward.

We believe that Yu Energy is now responsible for Whoop Energy customers. Therefore we will connect you with Yu Energy who will be responsible for taking your request forward.

2. Understand the value of your time

Dion Dublin, a former professional footballer and co-owner/Company Director of Lot 9 Auction House uses prioritisation:

“I was a forward in football, so I focused on my mission, which was to score goals. I try to remember this when I’m being pulled in a million directions as a business owner – focus on what needs you most and don’t spend time doing things that others could do (and probably do better!).”

3. Make use of tech

George North, a rugby player for Osprey and Wales and co-owner of Baffle Haus café uses technology to make improvements:

“In sport, tech is essential for tracking your progress, and data analysis enables you to become a better sportsperson. Behind the scenes at the cafe, implementing technology is a hack that’s paid off big time. It's this reliance on tech that’s turned me on to getting a smart meter. In rugby, I’m a player who likes to be in control of the game, and I’m no different in business – it will help me control my energy usage and keep an eye on costs.”

4. Daily targets become habits

Sheli McCoy, a CrossFit athlete, Olympic weightlifter and co-owner of Sweatbox gym and uses daily targets to help her focus:

“Setting daily targets can help you stay on track, with these then becoming second nature. I set small targets in my daily training, and I do the same in business – such as running up the petty cash, restocking the fridge, and cleaning one machine. This then trickles down into the team, as they follow my example and set their own daily targets.”

You can find more tips to get into the marginal gains mindset by clicking the link below:

Small hacks for small businesses

Want to find out more?

FAQs

How long does installation take?

Installations normally take about two hours and are arranged in advance so that you can make any necessary arrangements beforehand to ensure minimal disruption to your normal business operations.

Will my small business be charged to get a smart meter?

Many small businesses can get a smart meter at no extra cost. Depending on your business’s energy supplier and tariff, you may be charged for a part of the upgrade or for access to your energy usage data. Your supplier will let you know about any charges up-front.

Get a smart meter
Get a smart meter