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You are here: Home / Archives for Small Business

Small Business

Building Your Own Business

April 1, 2015 by Guest Contributor

Whenever the unemployment rate climbs people begin to get desperate and many think that this may be the time to strike out on their own (since they can’t find a job anyway). Unfortunately, a time when even experienced businesses are struggling and consumers are cutting back on their expenditures may not be the best time to start a new business…  unless it provides a way for people to actually save money. Some examples might be windshield repair, resume writing or a used clothing or used baby items store.

Business IdeaOf course, beginning a business pursuit on your own is never easy, but the advantage is that you are your own boss. Though this doesn’t mean you get to take off whenever you want. It usually means you get to work harder than anyone else.

Find Your Niche

One of the most important things in the early stages of your company is to focus. Pick one product, Idea or service, or one aspect and sell it. It’s much less of a risk, and turns out to be more profitable when you invest in [Read more…] about Building Your Own Business

Filed Under: Small Business Tagged With: business, Start-up

Taking Your New Business to the Next Level

December 22, 2014 by Guest Contributor

Getting a new business off the ground is a tremendous achievement, as many small businesses fail in the first year. After establishing a beginning level of success, however, it’s not a good idea to rest on past laurels. Rather, it is important to take the business to the next level to keep up with, or even surpass, the competition. The following suggestions can help to update a thriving young business.

Develop a Strategic Plan

Taking Your Business to the next levelAs the company settles into a successful routine, the next step is to develop a long-range plan to grow the business. Goals may need to be adjusted, along with the budget. The mission statement should be reviewed, and if necessary, revised in keeping with company objectives. Know where you want your business to be and what your goals are for long and short term.

Cultivate Customer Loyalty

Whoever the primary customer is, that market should be [Read more…] about Taking Your New Business to the Next Level

Filed Under: Small Business Tagged With: Small Business, Upgrade

How Safe is Your Business from Media Sabotage?

August 27, 2013 by Guest Contributor

Every year at least one politician or businessman has their career torpedoed by an interview nightmare. Just last week Labour immigration spokesman Chris Bryant ducked out of several interviews after fearing the repercussions from his ‘botched immigration speech’.

Jeremy Paxman is an English journalist, broadcaster and author. He has worked for the BBC since 1977, and is known for his forthright and abrasive interviewing style, particularly when interrogating (ahem, I mean interviewing) politicians. Unfortunately for them, multitudes of politicians and businessmen have had their careers sabotaged by one of Paxman’s now infamous tirades. I mean, doesn’t everyone in England remember this Michael Howard clip?

PaxmanThat clip is now 6 years old, and people are still talking about it! This just goes to show the importance of media management and media training, whatever your business.

The simple fact of the matter is that every year at least one politician or businessman has their career torpedoed by an interview nightmare. Just last week Labour immigration spokesman Chris Bryant ducked out of several interviews after fearing the repercussions from his ‘botched immigration speech’.

Media training and management are undoubtedly vital if you’re dealing with the media and it is incredibly important that you know how to respond calmly under pressure; especially in a crisis situation. [Read more…] about How Safe is Your Business from Media Sabotage?

Filed Under: Careers, Outsourcing Tagged With: Media Management, Media Mentor, Media training

What Is Pre Pack Administration and How is it Saving Jobs in the UK?

July 17, 2013 by Guest Contributor

Although there are a number of tools to track unemployment statistics here at home and abroad in the UK, there is no doubt that the current economic climate has caused thousands of workers to lose their jobs. Companies are fighting insolvency at every step of the way, and most are hard-pressed to find a way to continue staffing at their current rates.

One of the most effective ways in which company directors are saving jobs in the UK is through a process known as ‘Pre Pack Administration.’

What Exactly Is Pre Pack Administration?

Pre Pack AdministrationNow here’s a term we don’t often hear in the United States. Pre Pack Administration as defined by Real Business Rescue, is the process of selling an insolvent (bankrupt) company to a new owner who can carry on business without carrying along the debts of the old company. The company is typically sold to one of the directors or other interested parties because they know the business and are able to pick up trading where the old company left off.

Although there were no provisions made in the Insolvency Act 1986 for Pre Pack Administrations,  courts have recognized these new entities which will operate under the leadership of new owners. New owners may elect to keep the name intact or they can choose a new name under which to do business. The real benefit, other than wiping off debt, is [Read more…] about What Is Pre Pack Administration and How is it Saving Jobs in the UK?

Filed Under: Small Business Tagged With: Pre Pack Administration

Four Touches that Give a Business Personality

July 1, 2013 by Melisa Cammack

In the modern economy, it is not enough for businesses to be good at what they do; with so much competition they must also be unique. People need to feel that a business is relatable. Customers should describe businesses as if they were describing friends. This is how loyalty is built: by infusing a business with a unique sense of character. Here are four ways to add personality to your business.

Origin Story

Advertising the origin story of a business gives customers a narrative that they can be a part of. Few people dislike the story of an entrepreneur who sought to change an industry or the simple business owner who decided to serve the customer in a new way. These stories allow customers to feel a connection to a business. Used effectively, a good narrative will also convey a relatable sense of personality.

Four Touches that Give a Business PersonalitySocial Networking

A strong social networking presence is perhaps the easiest way to create a unique identity in customers’ minds. The beauty of social networking is interaction. Customers can develop relationships with a business when [Read more…] about Four Touches that Give a Business Personality

Filed Under: Small Business Tagged With: Business Personality

Small Business Security Tips

February 9, 2013 by Guest Contributor

The revenue from your small business is hard-won, and the last thing that should compromise its profitability is theft. Unfortunately, many small business owners overlook this key component to a successful business, or are lax in the implementation of security policies. Establishing a secured premises is easier than it may sound, as long as you consider these three components.

1. Visual Security

Business SecurityTake a look at your building at night—is each and every entry point well lighted? Are the light fixtures used tamper proof? If there are shady doorways, or lights that can be easily broken or removed, the building is susceptible to break ins. Make sure thieves don’t get the luxury of breaking into your building in the privacy of darkness. The lighting on the interior of the building also needs to be considered. When the interior lights are on, and you’re standing outside of the building at night, can you see the people inside the building? If the answer is no, then you need to adjust your lighting strategy. If thieves feel confident that they can work in privacy once they’re inside, they’re more likely to make your building a target. Finally, make sure that you are able to see each entry point in the store from key positions inside the building. Can cashiers see the front door without turning around? Can the person sitting closest to the back door see it without standing up? If not, then make use of convex mirrors to keep visual contact with these entry points. This allows for a quick reaction if a break in is in progress.

2. Physical Barriers

Once your property is well lighted and [Read more…] about Small Business Security Tips

Filed Under: Small Business Tagged With: business Theft Prevention, Theft Protection

Keeping Your Small Business Taxes Organized

February 8, 2013 by Tim McMahon

Small Business TaxesTax season is coming up, and if you’re a small business owner and haven’t been keeping careful track of your business expenses this year, you could have a lot of work ahead of you. As you gather everything for 2012, you should also take the time to get 2013 on the right track and get yourself organized. A little bit of planning now will go a long way when next January rolls around.

Keep all Business Receipts

As a small business owner, it’s absolutely imperative that you keep every receipt connected to your business expenses. Looking at old bank statements, trying to remember why you spent seventy dollars and eighty-three cents at Home Depot a year ago, and if it was a business expense or not, is frustrating in the extreme. Keeping a file for receipts for all business purchases you make throughout the year will allow you to start 2014 without the anxiety. On top of that, if you can do a once a week categorizing of all of the receipts will help you keep organized, and at the end of the year, will give you a list of total expenses, rather than having to go back through all those receipts. If you want to get really high tech you could try using the NeatReceipts Mobile Scanner and Digital Filing System.

Small Business Tax Deductions- Vehicle and Property Costs

If you use a vehicle for work or [Read more…] about Keeping Your Small Business Taxes Organized

Filed Under: Small Business Tagged With: organization, Small Business, Small Business Taxes, taxes

Self-Employment Assistance Program Help Jobless Develop Small Businesses

December 22, 2012 by Guest Contributor

The acronym SEA stands for Self-Employment Assistance, self-employment programs that entitle jobless individuals to claim unemployment benefits while receiving access to small business development assistance from the government. In other words, American workers can use unemployment as a springboard to business ownership thanks to the Middle-Class Tax Relief and Job Act signed into law by President Barack Obama in early 2012.

"Businessman Builds His Business" by renjith krishnanSEA programs address the fundamental challenge faced by jobless workers who can’t afford to lose their unemployment benefits simply because they aren’t actively looking for a new job. A White House blog entry from May of this year explained the inflexible system they faced before the new law:

“If they stop looking for traditional work full-time, they will lose their unemployment benefits. Instead, SEA allows an entrepreneur with a viable business plan to receive those same unemployment benefits, as long as they are working full-time to get a new company off the ground.”

Here’s how the Self-Employment Assistance program works

[Read more…] about Self-Employment Assistance Program Help Jobless Develop Small Businesses

Filed Under: Small Business Tagged With: self employment assistance, Small Business

Business to Business Sales Training

November 19, 2012 by Marie Into

Business to Business (B-2-B) Sales are Different

When we think of “sales”, we usually think of products moving from the manufacturer to the consumer. But before a consumer can buy the finished product many products move from one business to another with each business adding another piece to the puzzle. In business to business marketing, both the buyer and seller within the equation are companies rather than individuals. Sales will typically hinge on bottom-line considerations rather than on a fleeting desire for a product like an individual consumer might have. Here are some factors that makeup business to business marketing.

In B2B Goods and Services Are Still Exchanged

Business to Business Sales TrainingJust like in traditional marketing, the end goal of business to business marketing is to sell some kind of good or service. Examples of business to business marketing might include selling raw materials to a manufacturing company or even paper sales to a book publishing company. In both examples, every part of the equation is a business or organization. However, there is still a need to be met and an item or service that is bought or sold.

In Business to Business Sales Cycles are Extended

When a product like a pair of jeans or a new car is sold to a consumer, the cycle typically ends after the purchase. With business to business marketing, however, the cycle is much longer. Sales may be in monthly installments and the relationships that are formed may last years. If you are selling cotton to a clothing manufacturer, for example, your sales will not be a onetime deal. Instead, you will sell [Read more…] about Business to Business Sales Training

Filed Under: Small Business Tagged With: B2B, business, Business Sales, business to business

How to Start an Auto Repair Shop

November 10, 2012 by Karen Schweitzer

Starting your own business is going to be scary no matter how bad you want it. Being your own boss and having to make all the decisions may sound appealing, but you are going to want to know a little about opening your business before you start the process. Starting an auto repair shop isn’t the most inexpensive business in the world so be sure to take the time to figure things out before you begin. Here are the basic steps you should take when opening your auto repair shop.

Create a Business Plan for Your Auto Repair Shop

auto repair shops fix all kinds of problems including exhaust systemsThe first step to starting any business is making your business plan. When creating your business plan, you should be thinking about your goals for your business and finding ways to achieve them. This is when all the major decisions should be made such as what type of vehicles you will specialize in and how much you are going to charge. Don’t forget to put down advertising methods and expenses, as well as start any other start-up costs. Your business plan should not only include your plans for startup, but expand beyond that into at least the next year. Be sure to include your budget in your plan as well.

The Garage

Location is very important to your businesses success. Take the time to seriously search your area for the right spot for your garage. Areas close to highways or in a busy city is likely to provide you with the most business, but if you’re looking to start up with as little amount of money as possible, consider using [Read more…] about How to Start an Auto Repair Shop

Filed Under: Small Business Tagged With: auto repair shop, Small Business

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