Archives for September 2012

How to Create Wealth on Any Income

September 30, 2012 by
Filed Under: Miscellaneous

Serviced Offices Help SMEs Cut Down Overheads

September 28, 2012 by

Serviced office space in Leeds and across the UK refers to the rental of fully furnished offices in business districts. Services that are usually supplied include the rental of hotdesks and furnished conference rooms, receptionist and mail forwarding and the use of prestigious addresses that SMEs and independent contractors can use.

This type of rental contract is particularly well suited to certain job sectors, including those who work in sales (for example, estate agents or medical reps), construction, tutoring, accounting, insurance, nursing and many others.

Contractual companies that operate in locations over certain periods of time need to have permanent offices for short to medium contracts – but these do not necessarily conform to conventional 6 or 12-month lease periods. Thus virtual offices are useful because they’re flexible depending on a person’s needs – whether you require a fully kitted executive suite or mail forwarding.

Renting this type of office is helpful to small businesses on a number of levels as well. The fact that the premises tend to be in prime locations assists in helping new start-ups cement their reputations without their having to part with high expenses. Employees can also make use of the building’s furnishings – in fact every comfort that comes with renting a fully fitted building is available – without their having to sign, and pay for, a complete lease.

Meeting clients in this environment is far more desirable than meeting them in the local Starbucks, from the perspective of professionalism. Employee retention is increased as it provides people with a comfortable and smart location in which to get their work done, but – and perhaps best of all – the virtual office is a new take on the more common 9 to 5 office model, in which employees barely leave their desks throughout the day.

Suited to a surprisingly high number of business sectors, virtual offices are becoming more and more applicable to other types of industry including software development and customer service and support – and long may it last.

Filed Under: Miscellaneous, Starting a Business

5 Tips for Starting any New Business

September 27, 2012 by

Every year thousands of people get the entrepreneurial bug and decide that they want to start a new business, either online or in the ‘real world’. What usually happens next I that the ‘high’ that they were on slowly starts to fade as they realize that staring a new business of any kind takes a lot of effort and a lot of patience.

So with that in mind here are a few things to keep in mind if you’re dying to start a new business and want to keep that dream alive.

One of the most important factors in starting any new business is to know exactly what it is that you want to accomplish.  You need to really define what it is you want to get out of the business, what it is you’re really good at doing, and what your weak points are also. If you don’t have a clear vsion of this you should step back and wait until you do.

You will need to know what your resources are before you start any new business.  Do you have substantial savings, can you get access to loans and other money that you will need to keep the business afloat until it start to make a profit. This is very important. Most new businesses fail because they do not have the capital to survive the first few months or years it takes to get a reputation and client base that will support them.

Once you’ve decided what you want and made sure that you have the financing it’s time to do your due diligence.  This means researching every possible avenue to determine what the best route is to open your business and give it the best chance of survival.  If you sell widgets and you’re in an area of the world that hates widgets you may want to reconsider your plans.

Finally, test, test, test.  Your first few customers will give you more knowledge about your product and potential than anything else so get as much feedback as possible as you test your product or service as much as you can.

If you can do all of these tasks and they all have a positive result it’s time to really start
going and make that entrepreneurial dream of your into a reality.  Good luck!

 

Filed Under: Entrepreneurship, Starting a Business

Starting a Business? Do Your Competitive Research Online

September 25, 2012 by

Starting a new business? Know your competition, experts say, and start sooner rather than later.
For a start, you should begin a search for company information in order to learn about businesses already doing what you want to do. Indeed, one of the things many start-ups forget about is Competitive Intelligence, or CI.
CI can be as simple or advanced as you want to make it, from knowing who your competition is and understanding who the key players are at each, to (more advanced) knowing a competitor’s general financial situation and their individual specialties, which can help you understand how you might compete against them. The more you know about the competition, the more able you are to asses where openings in the market might be and how to take advantage of those openings.
While CI has been big in places like the United States for years, many UK businesses are just beginning to avail themselves of this practice, which is an established field that abides by ethical codes of conduct. In fact, many start-ups entrusted with seed money from venture capitalists, or from friends and family, see it as their moral obligation to understand the market they are entering into as thoroughly as possible, and this includes understanding the competition.
But where do you begin to search for this information? Certainly some research on Google will turn up bits and pieces of information, but there are now full-fledged CI services in the UK, such as Duedil.com, that allow you to search for company information online, and even set-up on-going searches that will track your key competitors and provide you with updates via email on their financial or leadership changes. As required by UK law, businesses must release certain information to the public in order to remain in compliance and keep their legal status to operate. This is intended to protect the public, and is in the interest of transparency and freedom of information, but it is also a requirement that also allows conscientious businesses to collect information on their competitors in order to better compete with them.
It’s then easy to see how, as you start building your marketing plan and make preparations to start your business, the search for information about competitors is essential and will put you on the right track from the very first day of business.

Filed Under: Starting a Business

Two Golden Rules For Every Small Business

September 23, 2012 by

Running a small business is by no means a lesser accomplishment than running a major corporation. Small business is what drives the economies of a country, sustains societies and offers products and services that are truly essential. Come to think of it and a world could do without an Apple because an iPad is not what we cannot live without but a neighborhood or a city center area cannot do away with eateries, grocery shops, small boutiques and the likes. Sure, the headlines are dominated by the billion dollar deals and the honchos of global giants but when you consider the revenue and taxes every small business generates cumulatively, the billions by the corporations would seem to be unutterably insignificant.

A small business faces as much trouble as the large businesses but the resistance is weaker and sustainability is always a matter of concern. Here are two golden tips that every small business could use and if used successfully then a world of prosperity awaits.

Create A System Independent Of Your Intervention

Most entrepreneurs running a small business let everything depend on their able shoulders. Right from the basics to the business meetings, an entrepreneur or two partners tend to do everything on their own. There has to be a system in place for every small business wherein if the proprietor goes on a holiday for a month then the company will not fall into pieces. You must make your business independent of your intervention. You can intervene as and when you want but let the operations be managed by your staffs, stop reminding everything when there are people assigned to those tasks, take your hands off the accounts and taxes and let the professionals do it for you. This way, you would be able to do better things such as planning for a much better, bigger and more rewarding future, not just for your business and yourself but also for your employees and customers.

You Are Always Ready To Grow

A small business can think that it is doing fine or decide to tread uncharted territories. Most people think growth is not a possibility since there is a lack of funds or one doesn’t have the available time. The latter can be taken care of if you adhere to the tip above and the former will never be a problem. If you have a growth opportunity then funds, resources and other factors would automatically fall in line, at times from banks or from other investors. You just need to be sure that you want to do it and it is viable.

Filed Under: Miscellaneous, Starting a Business

The Joy’s of Entrepreneurship

September 18, 2012 by

Entrepreneurship is something everyone is capable of engaging in, whether they think so or not, especially if it is home-based.  Beginning a home business is indeed exciting; however that thrilling feeling can also cause you to overlook some important things. In this article we are going to provide you with some timely pointers to ensure you get started on the right track.

Only a very minute percentage of home businesses achieve success instantly. Know in advance that entrepreneurship calls for a tremendous amount of effort, planning and time. Figure out from the beginning just how much time you are willing and able to put into your business, then create a schedule and stick with it. Sure it is great working from home with flexible hours, but you will still need a certain amount of commitment in order to make it worthwhile.

Come up with a business plan. This cannot be emphasized strongly enough; put it down on paper along with the strategies you plan to use in order to accomplish your goals. That plan will be the document you go to frequently to ensure you have a proper evaluation of how your business is doing. But also, make sure your goals are realistic and detailed. Come back to your goals on a regular basis and make sure they are indeed the picture of what it is you’re trying to achieve. If you find that some strategies are not working, don’t hesitate to change some of them and replace them with some you think might be more effective.

Make sure all of your business documentation is organized. Keeping track of all this calls for more than just tossing receipts and other paperwork into a box. Have specific files and folders for your important forms and documents. Make sure that everything is properly filed right when you are done with them. You along with your accountant will really appreciate this come tax time.

Harness all the power of the internet to help with growing your business. Doing so will allow you to reach a larger market and deliver more products and services to people Learn how your potential customers think and also where they hang out online so you can tailor your marketing efforts accordingly.

Often people will find that they are not reaching their goals as quickly as they had hoped. Do not let that dissuade you; it happens to the best of us.  Realize that sometimes ideas take a little longer to bear fruit than you initially envisioned. However, you also need to know if it is because certain ideas just aren’t working and whether you need to give them a little more time or cut them loose. It is important to know the difference between the two and what to do about the both of them.

Without a doubt, there can and will be many obstacles in entrepreneurship and small business, but stay the course and you should be okay. We hope that the tips mentioned above assist you in achieving your richly deserved success.

 

Filed Under: Entrepreneurship

The Do’s and Dont’s of Starting a Small Business

September 13, 2012 by

One of the best ways to prepare for a future would be to start a new business. Starting a new business needs not be a difficult task but can be quite challenging. The most important aspect of successfully setting up this new business would be to plan. Planning is basically the best way to start up and establish a new business. A good plan will ensure that the business is set up properly so it may operate successfully.

 

There are many reasons why an entrepreneur may choose to start a business. It may be because they need to set up their professional career, a need to make money and generate profits, the need to have a job and even for purposes of investing and having a regular source of income. Whatever the reason for establishing a business, it is essential to have a solid plan and a back up plan.

 

When choosing a business to start, an entrepreneur should carefully consider their options so that they begin a business they know something about or one which they have skills which they can employ. Such considerations are very important. It is also absolutely necessary to keep costs down in the initial phases before the business starts making money. Finally, the business will have to be marketed so that customers may get to know of its existence. When setting up a business, some of the most important considerations should be capital, labor, premises, marketing and a plan. All these are very important factors and each should be taken into consideration. When coming up with a plan, an important aspect needs to include a budget and finance.

 

Budget and Finance

 

Every business needs to be financed in one way or another. The source of the funds needs to be established. It could be savings, loans or capital contributed by partners, members or even family. These funds will need to be properly budgeted. For example, some funds will be needed to set up and establish an office or business premises such as a shop or warehouse. These costs need to be set up. Another important consideration should be the equipment and stock, if any. All the budgeting should be made accordingly.

Filed Under: Entrepreneurship, Starting a Business

How To Run A Great Business From Your Home

September 9, 2012 by

Life can be unexpectedly cruel. You may find yourself unemployed, suddenly, and then unsure of what exactly to do next. Now may be the time to consider starting your own home business. There are tips in this piece that can lead you in that direction.

Design your office so that you are comfortable and your essentials are within easy reach. Straining your neck all day to view a computer screen can be very discomforting and could possibly cause permanent nerve damage. If you plan to spend a while working at your desk, make sure you purchase the best seat your money can buy. Do the same thing for your keyboard, lighting fixtures and with your mouse and mouse pad as well. If you have $200 to spend on these items, it should be more than sufficient.

It is easy to forget that personal interaction with others is a benefit of working. Going about your daily tasks while in your pajamas may be enjoyable, however, you will soon miss the social aspect of working. Try to make it out to other locations throughout the week to keep up those personal interactions.

Dedicate a specific part of your house to your business, and set it up as a work area. Make sure that your designated space is large enough to accommodate everything you need for your business, without creating clutter. This will keep things in order, and this order will be vital to your success.

Whenever you get a payment, put it in the bank. Don’t wait around until the end of the week or month to deposit checks. Do not leave any checks lying around; instead, make sure you deposit them. Go into the bank and deposit your checks with a teller rather than using the ATM, to avoid any problems.

The information on your site should always be an accurate reflection of your actual inventory. It’s very upsetting to order an item and find that you won’t receive it for weeks. Let your customers know beforehand if a product is on back order, that way they can pick out a different product.

Before you start your home business, you need to be sure to figure out what your start up expenses will be. While home businesses cost less than their traditional counterparts, they still have costs. By determining how much it is going to cost to operate your business, you will avoid the hassle of losing money.

If you are setting up a home business, you must pay close attention to financial business planning. For instance, you should prepare a projected income statement, which can be helpful. This document shows future projections of your business finances. You begin by making estimates on what you think will be your expenses, sales and profits. This will get you ready for future financial planning and will give you some concept of what to expect with your business.

Try to stay organized. If you have to find something in a hurry, you will want to know exactly where it is. Also keep contracts like your phone or internet providers here, in case you need to reach them about a problem.

One cost-effective way to buy online advertising is by paying in kind: offer to host another webmaster’s ads in exchange for getting your own hosted on there site. This will give both of you more traffic, and provide search engine ranking benefits. Ensure that advertisements appearing on other sites are clear and that potential customers know where the link will take them.

While reading this article, hopefully you were inspired to take your life into your own hands. You were given a lot of tips about starting a home business, and now is the time to grab the bull by the horns and go for it! You can keep this article for reference to read anytime you are not sure what the next step you should be taking is.

Filed Under: Entrepreneurship, Miscellaneous, Starting a Business

Starting an Online Business Venture: Part 2

September 5, 2012 by

In Part 1 of this 2 Part series we looked at the basics of setting up an online business.  In Part 2 we’re going to examine some of the more detailed tasks that you’re going to need to accomplish before you can ‘open’ your online business and start making a living (or at least some extra income) online.

As with Part 1 most of these Tasks can be accomplished using online service providers that already have the templates and tools that you’re going to need to get started.

Online Payments need to be set up so that, obviously, you can sell your products and collect the revenue from those sales.  When you set up your website most service providers already have a template for setting up your virtual cash register and ‘shopping cart’ so the only task you have is to connect that page to an online cash / payment service company.  One of the biggest in the world is PayPal and there is also Google Checkout, both of which will do just fine.

Both of these will allow you to start small and then increase and expand as your business grows, keeping overhead to a minimum while you’re still small and getting a foothold online.

One of the most important aspects of selling online is building ‘traffic’ to your site.  Let’s face it, without people coming to ‘see’ what you have to offer you’re not going to make very many sales. Building traffic means setting up SEO, using keywords, buying ads and making sure that you rank high with the major search engines.

Honestly there is so much that is included in creating Traffic to your website that it can’t be covered in depth here.  A good suggestion would be to use an online service provider at first until you have a better idea of how to create traffic on your own.

Once you have people coming to ‘visit’ your website you’re going to need a method to deliver your product. There are quite a few of these service providers online and, of course, if you make the product yourself there’s always the USPS and companies like FedEx and UPS.

Creating an email customer list is essential for targeting repeat customers and essential for your growth.  Using landing pages and giving away great information is a great way to do this. As with all of the other tasks there are service providers online that can help you with this task but suffice to say that it’s one of the more important that you have.

Finally there’s tracking your growth and offering what your customers want.  If you track what is going on well you will begin to see subtle changes and be able to react to them and be ready with the products and services your customers want when they want them.

Good luck in your online endeavors and remember to always keep abreast of the ever changing internet and the even more ever changing needs of the consumers who you wish to sell to. In no time you’ll be a seasoned vet who’s writing about how to do these things also.

 

Filed Under: Blogging, Entrepreneurship, Starting a Business

Starting an Online Business Venture: Part 1

September 1, 2012 by

Today more than ever there are countless opportunities to start an online business and make money from home. The biggest question isn’t always what you’re going to sell (there are countless things to sell including products and services) but where to start.

Rapidly changing technology has made it easier than ever to have your own website and domain name and to set up everything from a landing page to a payment page.  It’s also gotten much cheaper to do all of these things than it was scant years ago.  Websites like Mighty Deals and 5 Minutes will help you set up the website and propagate it with all the tools you need to get started. There are many other tasks that you must also accomplish when starting an online business, including;

Know your way around the Internet.  If you still don’t know the difference between a tweet and an office suite it’s time to take an internet course online.  Social media, branding, SEO, search ranking and many other concepts that may seem foreign now will need to be learned and used if you want to be successful online.

Register a ‘domain’ name. Your domain is your online address. It’s the place where your customers will ultimately come to see, ask about and, hopefully, purchase your goods and services.  There are a number of places online where you can register and purchase your domain name, including onr of the most well-known, GoDaddy.com.

Rent ‘space’ on a web-hosting site. Like a brick-and-mortar location, a web host will rent you space on their server so that you can host your website. Most will actually sell you your domain and rent the space, allowing you to finish 2 tasks at once.

Design your new website.  This sounds difficult but today there are numerous service websites online that will help you (for a fee of course) to easily design a fully-functioning website with only a small amount of effort.  Of course if you have no clue how to even use a computer you still may need some help but sites like 5 Minutes.com give you access to powerful website design tools that can help you immensely.

If your main site will be a Blog (as an affiliate marketer, for example) there are plenty of Blogging sites on the net, the most popular of which are WordPress  and Blogger. They will help you set up and publish your Blog and, from there, you will be able to recommend your viewers to the services or products that you wish to promote.

This should get you started.  Check back for Part 2 of this 2 Part series for more helpful Tips and tasks that you will need to be a successful online entrepreneur.

Filed Under: Blogging, Starting a Business