Posts Tagged ‘start up business’

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starting a business for the first time

Saturday, July 3rd, 2010

If you are starting a business for the first time, you may forget to include all of the little supply needs in your start up budget. You will want to look at the things that you will need for a project or just overall. You will find that there are tons of reasons for you to want to consider the little things. Things like not having a clock in a rental space could mean all the difference when trying to rent out an office. You will want to make sure that you are prepared for even the smallest things. Even if your place looks good, but you don’t have anything that you need like a paper clip or a pen to write in appointments, then what is the use of having a beautiful space? The small things count!

Office supplies are a need for any business. Whether you spend lots of time in the office or not, you need pens, paper, stamps, paperclips, tape, envelopes, pencils, and sticky notes if you wish to run a successful business. You will have to learn to budget for even the small items. If you use lots of a certain item (pens, for example), it may be most beneficial to buy these items in bulk. Also, take advantage of the catalogs that offer discount rates for a order over a certain amount so that you can be prepared for future use, and also get a discount and save a lot of money.

There are some supplies that you will need in the office more than others, and you will want to make sure that you don’t overlook anything. For example, will you have employees? If so, will they be required to wear uniforms? You will most likely want to provide these uniforms to ensure that everyone’s dress is the same, but this means you must be prepared for future employees who may be of many shapes and sizes. For those who work in food service, you might want to remind yourself about the sanitary supplies like gloves, hairnets, or hats.

Also, don’t forget those supplies that you need to keep your business and the building functional. Your bathroom must be stocked with toilet paper, for example, even if the only ones who use it are employees. Don’t forget the cleaning supplies to get the place clean and stay clean and think about trashcans for every room.

Before you give your business plan a thoughtful budget, you will want to make sure that you set aside some money for you to get those miscellaneous items that you’ll need. Also, think about all those little things that you will forget. Make sure that on the second day that you’ll have plenty of money for you to get all those things that you might have missed. You will also want to think about setting more money aside so that you can have some profit at the end of your first month if you don’t end up spending all of the money. You should also think about purchasing some items a little bit at a time so that you can help get your business up and running.

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Decide if running a business is for you

Saturday, May 22nd, 2010

Starting and running your own business is one of the most exciting choices anyone can make. Millions have done so successfully and found it an exhilarating and rewarding challenge. However, starting a business brings its downsides and its risks, so it’s important to think about all the implications of your decision.

You need to seriously consider whether starting your own business is right for you, by honestly appraising your strengths and weaknesses. Do you have the skills and the stubborn determination it will require? Do you have the full support of your family and friends?

You should also look very carefully at your circumstances. In almost every instance, starting a business involves a degree of financial uncertainty and risk. Can you afford to forego the stability of a regular wage or salary? Can you afford to lose any of the money or assets you might invest in the business? Are you in a position to wait for revenues and profits to start growing?

1 Understand the implications

1.1 Be ready to work long hours.

Many people start a business hoping to improve their work-life balance. But in the early stages, particularly, running a business can be an all-consuming venture.

It’s likely that you’ll have to sacrifice some of your social activities, for a time at least.

1.2 You’ll need to cope well with pressure.

The final call in most business decisions will rest with you. This can be one of the most rewarding aspects of being your own boss, but it’s a high-pressure position to be in.

If you’re an employee, most of the decisions you’re faced with will be within your area of expertise. But, as an owner-manager, you’ll have to be ready to deal with every area of your business, from sales and marketing to finance and HR.

1.3 The stakes can be high.

The potentially serious consequences of your decisions can be another source of pressure when you run your own business.

The success of your business – and your livelihood and that of your employees – can depend on your course of action from week to week.

1.4 There are many tedious tasks to be completed.

It’s easy to focus on the exciting aspects of starting a business. But the flipside of being your own boss is that in the early days you’ll probably also be your own receptionist, admin assistant and book-keeper.

And there are red-tape obligations – forms to be filled, records to be kept and rules to be learned and followed.

1.5 But the personal rewards can be great.

Running your own business can be an immensely rewarding experience, giving you a real sense of control over your working life, as well as clear potential financial gains if you can turn your idea into a successful operation.

2 Assess your skills and attributes

2.1 Make sure you have the sector-specific skills your business will require.

Make sure you have a clear understanding of the requirements of the business sector you’ll be working in.

If you have worked in the same sector previously, this shouldn’t be a problem. But if you’re moving into an area that’s new to you, do your research. You might want to look at training, or hiring an experienced staff member.

2.2 You need determination and confidence.

Being half-hearted isn’t an option. If you are going to start your business you have to give it all you’ve got.

Can you keep plugging away even when things aren’t going your way?

It’s crucial that you believe in what you’re doing, because you’ll have to convince others – such as your bank manager – to support you.

2.3 It helps to have an independent streak.

Running a business can be lonely, particularly in the early stages.

There’ll be no one looking over your shoulder to make sure you get things done. You’ll have to rely on your own motivation and self-discipline.

2.4 But you’ll also need to work well with others.

Being your own boss isn’t all about independence and autonomy. You might have more direct contact with suppliers and customers than ever before, so being able to form good business relationships is an important skill.

As your business expands you will also need to be able to share responsibility and delegate tasks to others.

2.5 You must be flexible.

Successful entrepreneurs are generally comfortable taking advice and are happy changing their approach if a better one is pointed out.

2.6 Patience and resilience are valuable attributes.

People who start their own businesses benefit from being resilient, patient and realistic. Make sure you are prepared for the fact that you are unlikely to become a millionaire overnight.

For more information about training courses for owner-managers, visit the learndirect business website

3 Make sure you have a support network

3.1 Discuss your plans with your family.

Family can be a great source of moral support for someone starting out in business. Keep them up to date with how things are progressing.

Make sure that everyone understands and accepts any significant changes your going into business might involve for them. Your schedule might be busier, for instance, or your income less predictable in the early days.

3.2 Seek the advice of friends and colleagues.

Your friends will also be an important source of support.

If you know people who have experience of running a business or know the sector you’ll be operating in, ask for their advice.

3.3 Talk to the experts.

There’s a wide range of business support available that can ease the process of starting out in business. These include professional advisers from organisations such as Business Link and Enterprise Agencies.Business mentoring is another option – this involves experienced entrepreneurs providing ongoing help and advice to start-up businesses.

4 Get your finances right

4.1 Carefully assess the financial implications of starting a business.

Do you have the money you’ll need to get your business going until revenues start to grow? If not, where will you get it?

If you’ll be giving up a regular wage to start your business, do you have the flexibility to cope with possible fluctuations in your income?

4.2 Be clear about your financial priorities.

Which is more important to you – safeguarding your financial security or seeing your business grow?

Make sure your strategy for your business reflects your financial priorities.

4.3 Consider the implications for others.

If your business plans place others at financial risk, make sure they understand the risks and accept them.

5 Weigh up any doubts

5.1 Don’t worry about fearing failure.

Worrying that your business won’t succeed is perfectly natural. It makes sense to think about how you would respond if your business were to fail.

But if your fear is more intractable than this – if it continues to undermine your work and confidence – then starting your own business may not be the most rewarding course to take.

5.2 Take steps to improve your chances.

Once you’ve assessed your skills and your situation, don’t be surprised or disappointed if there are areas of weakness.

The important thing is to acknowledge these fully and to see how you can overcome them. There is a wide range of support available – from family and friends to banks and business-support organisations.

5.3 You can fill in gaps in your knowledge.

Few people know everything about running a business before they start.

Most things you can pick up as you go along – though you should be ready for a steep learning curve.

Remember – take advice and learn from others whenever you can.

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How to write a press release

Sunday, May 16th, 2010

Checklist

1. Decide which publication your target audience reads.
2. Focus on creating a news story which will suit the publication and audience you are targeting.
3. Create an interesting headline which will encourage the journalist to read the whole release.
4. Include all the key points of the story in a brief opening paragraph.
5. Continue with additional paragraphs providing more information, in order of importance.
6. Keep the entire piece short, typically 300 words at most, using short sentences and paragraphs of 60 words at most.
7. Include your contact details in case the journalist needs further information.
8. If necessary, add more detailed background information in a separate ‘note to editors’.
9. Write in the style of the publication, avoiding inappropriate jargon.
10. Consider including quotations to add colour to the article.
11. Find out to whom you should send your release, what the deadline for copy is and how they prefer to receive releases (eg mail, fax or email).
12. Write ‘PRESS RELEASE’ across the top of the page. If you are posting or faxing the release, print the release on letterhead paper.
13. Use double-spaced lines and wide margins to make the text easy to edit.
14. If possible, include an interesting and relevant picture; check what kind of print or transparency the publication needs or what format you should use if you are sending it by email or on disk.
15. Check your spelling and any factual information.
16. Review whether the piece is interesting, in the right style, and could be cut at the end of any paragraph and published without further editing.

Cardinal rules

Do:

* write a story the publication will want to use
* put all the key information in the opening paragraph
* write in the style of the publication
* use a press release format
* include contact details

Don’t:

* allow any part of the piece to become too long
* use inappropriate language or jargon
* send the release without checking it

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Work at Home as a Home-Based Business Entrepreneur

Friday, March 12th, 2010

Being an entrepreneur is very appealing but not everyone can become one. One of the quickest and easiest ways to become a successful entrepreneur is by working at home through a home-based entrepreneur business.

Firstly, you need to evaluate your strengths and weaknesses. After the evaluation, you can now determine if you can manage your own online business. Aside from the evaluation process, you must know how to plan, organize, staff, and control. These are your responsibilities as an entrepreneur. You should be able to work alone because now you’re the boss and all business decisions will be made by you.

Some say that online businesses can be run without many problems. Well, they are very wrong because even with an online business, you have to deal with certain business problems and risks. You can’t eliminate such risks because that goes hand in hand with any business undertaking, both for online and offline businesses. However, you can reduce the risks that you’re bound to deal with in the future by choosing the best home-based entrepreneur business that will work for you.

Entrepreneurs are known to be self-starters. Organizing your time is a difficult task but if you want to run a home-based online business, you should be able to do it. Remember, you don’t have a boss that you can rely on. This is your business and you have to be responsible for it at all times.

Running your own business would also mean that you have to deal with different kinds of persons. You will surely encounter demanding customers, moody vendors, and an unreliable staff. To become a successful home-based business entrepreneur, you should know how to deal with them individually. You should know the quirks of every person that you encounter so that you can address them and the situation correctly.

Running an online business is all about your attitude and character. According to some experts who conducted researches about the characteristics of entrepreneurs, there are certain traits that an entrepreneur should possess. As mentioned earlier, entrepreneurs are risk-takers, self-starters, and know how to deal with different kinds of people.

Those traits and characteristics are not enough. You have to have more than that. Another trait that you should possess is being an excellent decision maker. Since you’re the boss, you should be able to make quick yet effective decisions. Some situations are filled with pressures but despite the pressures, you still need to make an informed and wise decision. As owner of your online business, you have no one else to rely on when it comes to business related decisions.

To be an effective online business entrepreneur, you must have lots of energy and superior work ethic. Owning an online business may mean working even on late hours and on the weekends. However, you must not be pressured of your tasks. View them as challenges and strive even harder. Your efforts will be rewarded once you see the profits rolling in.

If you already know the responsibilities of an entrepreneur, then you can assess if you can become successful in an online business. Working at home through a home-based entrepreneur business requires dedication and hard work. You must be able to monitor your finances, tasks, inventory, work schedules, and many others. Good luck and may your chosen home-based business become a success.

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Sail To Success

Friday, March 5th, 2010

How To Make Money Online With Your Net Biz.

A quick video update showing the new website Sail To Success which launched on the internet Wednesday 3rd March 2010.

Once you have the tools and the knowledege about how to use the internet, the world really is your playground!

I made the decision in 2009 to create my own Your Net Biz and it was one of the best decisions of my life (after marrying my wife and having children!)

I look forward to helping you create a fantastic future for yourself and your family.

Enjoy the video!

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Dare To Be Powerful Beyond Measure!

Thursday, March 4th, 2010

This is a moving video from Tony Robbins, by the way, Happy 50th Birthday!

“” Its Tonys 50th birthday and he has a special gift for you, an exciting and moving 3-minute video mash-up called Powerful Beyond Measure”

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Branching out: Anthony Sudbury

Thursday, March 4th, 2010

With Self Assessment season safely behind them, AccountingWEB.co.uk caught up with some of our Class of 2009 members to see how their firms are progressing.

Anthony Sudbury has been running Better Bookkeeping since 2005 but it wasn’t until February 2009 that the company was incorporated and Anthony focused his attention on building up the practice full time. When we last spoke to him in October, he was concentrating on building up his client base. Four months on, we caught up with him again to find out how it was going.

AccountingWEB: What progress have you made since October in terms of consolidating your business?

Anthony: In October I branched out and decided to look at using the internet to gain new skills I could use to start marketing my business. I had found that the traditional routes, local magazines and newspapers were costing a fortune with no results – except people calling me and trying to sell me things! I have spent the past four months diligently increasing my knowledge about internet marketing and what tools are available to use and actually in the process created another service I can offer my clients. As a result I have added a few things to my website, which I plan on developing further in 2010.

AccountingWEB: Have there been any major challenges over the last few months that you’ve had to overcome?

Anthony: The biggest challenge is juggling time. There are a lot of different roles when you run a business and when you are working by yourself you have to do them all. I also look after my children (aged three and four) in the afternoons in order to keep childcare costs down as we build the business, so most evenings and at least one day at the weekend is spent working on the business – be it client work, admin or even my own accounts.

AccountingWEB: Have you attracted any new clients since we last spoke? If so, how did they come to you?

Anthony: Yes things really started to pick up from October onwards (after a drought for the first six months). I also finished a six month maternity contract I was covering for my old employer in November 2009 so I have been able to concentrate on my own business permanently now. I now have 25 clients on file which is a nice mixture of tax returns, monthly bookkeeping and payroll, and quite a few limited companies. They have come from a variety of sources which has included direct advertising (not cost effective), Facebook (yes, my new skills are working already!), search engine results from Google and word of mouth.

AccountingWEB: Have you experimented with any new marketing techniques over the last few months? How effective have they been?

Anthony: Yes I have experimented with internet marketing. I have been blogging, using Twitter and Facebook mainly (very effective!) and I am going to be looking at using video marketing more in the next 12 months to provide information and even software tutorials to my clients. The most important message I learnt last year was ‘The Law of Attraction‘ and personal branding. As a result I created my own website and have actually created a nice sideline business on the internet which runs 24/7 (to a global target audience) which will complement the accountancy side, especially as the UK heads out of recession.

AccountingWEB: Which of your processes are paperless at present?

Anthony: At the moment I am using traditional files for working papers and important correspondence, and using the computer to save electronic emails, spreadsheets, etc to each individual client file. I don’t have the technology or hardware to run a paperless office.

AccountingWEB: Do you see any obstacles for small accounting firms like yourself to going paperless?

Anthony: Yes, the cost! Until you are established with a consistent amount of fees coming in every month, you can’t afford to buy all the equipment, servers, software and then usually a monthly fee to run it.

AccountingWEB: Have there been any successes you’ve had over the past couple of months, or new things you’ve tried that you’re keen to share with other small practitioners?

Anthony: I actually signed up with KeyTime Accountancy for my software – accounts, personal tax and corporation tax – based on reviewing what was on offer and the price. It has been fantastic and on the occasions I have needed support they have been superb. I would thoroughly recommend them. On a more important note, my first year end was on 28 February 2010 and I am thrilled at what I have achieved in the past 12 months. When I first decided to set it up full time, my main reason at the time was to be up and running as the UK heads out of recession. So far it’s looking fantastic!

http://www.accountingweb.co.uk/topic/branching-out-anthony-sudbury

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Blogging to the Bank 2010 – The Truth!

Sunday, February 14th, 2010

 

 

Blogging has been around for a few years now. Most people use blogs to record their thoughts and lives, while the select few use them as a free way to make a fortune.

One guy who uses this to his advantage is Rob Benwell. In 2006 he dished the dirt on the tips and tricks to making a fortune using blogging. But as time passes the old systems become obsolete and new techniques are required. This is where his brand new, fresh off the press Blogging to the Bank 2010 system comes into play.

For those who know who Rob Benwell is like me, you’ve probably made a killing using blogs.

For those who don’t, he’s the story:

Back in 2005 he was struggling to make any profit online, had dropped out of college and was getting deep into debt. He was trying all the techniques the gurus tell you and wasn’t getting anywhere fast. All of that went in the bin and he started using his own techniques and started making more and more money using simple blogs. In early 2006 he shared this with the world and had a great ebook called blogging to the bank. Tons of people got rich from using these techniques (including me). He then spoke at Online Marketing Legend Yanik Silver’s underground Seminar where he revealed even more of his underground strategies. Then July 2007 he released Blogging to the Bank 2.0 which showed users his new methods to creating online wealth using blogs. In total both versions have been read by over 50,000 people across the world.

But as I said earlier, the techniques used in these ebooks are now showing there age. Some of them are not even working in the slightest! This is where blogging to the bank 2010 comes into play.

It’s full of great new techniques that work online right now! Everything’s explained in plain English with all the fluff cut out. I got hold of an advanced copy of the book for a much higher price than what it actually sells for and it has been worth every single cent! I got it in the afternoon and by the evening I was creating new profitable blogs. Within a couple of hours of them being active I had made a nice little profit.

Blogging To The Bank 2010 teaches you Robs new step by step blueprint to creating highly profitable long term niche blogs using the newest optimization techniques. There’s even a section on advanced Search Engine Optimization. Most people think SEO is difficult but Rob explains this nice and simply so even the blogging newbie will understand it.

Blogging To The Bank 2010 is a breath of fresh air and I highly recommend it to anyone wanting to make easy money online.

Click below for more information about this system

BLOGGING TO THE BANK

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Resorts360 – Save $2,000 USD@ 5 Star Resort!

Saturday, February 13th, 2010

Latest deal at Mayan Palace Beach Resort.

Elegant accommodations, breathtaking views, and blissful diversions make Mayan Palace Mexico golf resort an oasis for weary travelers. Set your soul at ease as you explore the golden sands of our beach, rejuvenate yourself at the spa, or create family fun at the aqua park.

Just try to concentrate on your golf game while surrounded by the awe-inspiring golf course views found in Mexico! The natural beauty of Mayan Palace Mexico golf resort stretches from our many lakes and gardens to the refreshing ocean air. 

Interested in joining?

Click Here For More Information

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Is it a Good Time to Start a New Business in a Recession?

Friday, February 12th, 2010

In the last recession of the 1990s thousands of people, many of whom were made redundant successfully set up their own businesses.

If you are in this situation and you decide to start up your own business perseverance and determination are absolutely critical. In the early days you can not allow yourself to be swayed by negativity or failure to secure business after many repeated attempts.

It is essential to always keep motivated and to imagine success and the feeling that you will have when you secure your first client. You need to focus on tailoring each opportunity to suit your clients needs, don’t be afraid to ask for feedback as to why you did not secure the deal and adapt appropriately to secure future deals.

One of the major hurdles often facing start up businesses in a recession is how to secure funding from banks at a time when they are cutting back on offering loans. The only way to ensure success here is to invest a considerable amount of time in writing a rock solid business plan.

The other advantage one has if you start up in a recession is that you are already used to being more frugal and questioning everything to ensure that you make the best and most informed decisions. You are also more likely to develop the intense vision and commitment to ensure business success. Don’t forget how better placed you will be when you come out the other side after the recession.

If you can set up in a tough market look what wonders you will be able to achieve in a more receptive market place.

Don’t forget that success also depends on your own personal enthusiasm and your ability to build relationships and offer excellent products and services to all potential clients. If you achieve this you are also more likely to keep these clients when the good times begin.

So where do you start?

1. Think of an appropriate business name
2. Write a robust business plan
3. Investigate sources to get initial financial funding
4. Build a website (note – the DIY versions on the internet are not only cost effective they can also look extremely professional)
5. Develop a Marketing plan: Define the product/service that you are planning to offer, where you are going to sell it, the price you are going to charge and what incentives you plan to offer to clinch your first deal
6. Develop an advertising plan to build awareness of your product/service, for example: Ring up all potential clients to introduce your new business, send out flyers and business cards to potential clients with appropriate covering letters and get on the internet and start driving traffic to generate free media

If you decide to go ahead you must remember to hold the VISION and imagine SUCCESS.

Article Source: http://EzineArticles.com/?expert=Anthony_Sudbury

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