Trashing Financial Models, Games For Sales and Other Small Business News

Startups, Throw Out Your Financial Models: The Argument For Lean Modeling In an interesting article on Forbes.com, J.J. Colao argues for a simplification of financial models for the next generation of startups.  Create a way of tracking growth and projections in your financials that is lean and fits your entity.  The key is making sure that whatever metrics you use in your business, that they are tied to your long-term goals. Measure those things that are important to your business in a way that will allow you to progress and adjust as necessary.  Make sure that your financials show you the information that you need to know and that will allow you to make the most beneficial decisions for your business.  As you build a strategy that works for you remember to adjust it as your business adjusts. Also, remember…

Get Inspired! Knowing What Motivates You Improves Your Business:

We are all motivated by different things.  Some take inspiration from friends and family.  Others look to nature and the world around them.  We even have famous examples or popular stories that connect us to people who would otherwise be strangers.  Inspiration is an excellent motivator and often calls us to action and increased success.  The key is taking the inspiration and doing something with it.  Here are some ways that you can use your inspiration to improve your business productivity: 1) WRITE IT DOWN! It is critical that whenever you have one of those ‘Aha!’ moments that you write it down.  All too often we get a great idea but are pulled somewhere else and we do not follow-up on it.  Make sure that your write down what you feel inspired to do.  Also, make a note of what…

Four Money Saving Tactics for Your Small Business to Try in 2013

Small businesses face a number of challenges from a variety of sources, because of their limited revenue small business success can be won or lost with a relatively small amount of money. In order to save money and help your business be more profitable this year these are some tactics to consider. 1. Eliminate Paper Wherever Possible Electronic isn’t always better but in a lot of cases it is cheaper, electronic customer files require less storage space and are ready to be pulled up in a second. Electronic paychecks for employees remove the cost of printing checks and can be scheduled on a recurring basis so that they require less time and effort. Even things that don’t seem like they would be easy to make electronic can be, like offering electronic invoices can allow your customers to choose whether or…

New Years’ Resolutions and Business

It has become very popular to make New Year’s Resolutions every year.  Whether or not we managed to keep our commitments and to reach the goals that we’ve set, most of us are still very open to make new resolutions for the upcoming year with the hope that we will be able to stay focused and accomplish them. Some of the most common New Year’s resolutions that people make can be visualized below with the help of Mindomo mind mapping software: Our actions are very much related to the type of decisions that we make and the resolutions that we choose to define as guidelines for our choices.  Depending on the areas we focus on, our resolutions may be structured according to our personal, family or business interests and focus.  Since our lives are often defined by the choices we…

Game Changer: Getting Serious About Your Website

If a company is not willing to take the time to put a professional website together, customers will notice because today’s customers are able to visit thousands of similar businesses from the comfort of their homes. They are searching for the best deals available from their smartphones on buses, trains, and in their cars, so your website has become the business card of the 21st century. To get serious about your business, you must focus on a website, and there are several things that go into making a good website that customers can find and use. Implementing these strategies can help you stand out on the Internet for the right reasons.   Build Your House upon a Rock First, you must have a stable platform that can handle incoming traffic, and the platform must operate smoothly and load quickly. Definitely…

Christmas Business Party Do’s and Don’ts

Plenty of people love to show their employees how much they appreciate them with a business holiday party. When you love the idea of making sure that your employees have a great time at the business holiday party, there are a few things that you should keep in mind when you are doing the planning. DO Get a Number of Attendees The best way to plan a party is to make sure that you know who is going to be there. Tell your employees that they are welcome to invite their significant others or their friends, but they need to tell you who is going to be present. An easy way to inform everyone of the party is to send Christmas cards for business parties beforehand. DON’T Schedule It For Christmas Your employees might love their job, but the truth…

The Benefits of Furthering Your Education through Business Training Courses

Professional development in the business field is extremely important. Furthering the education of employees benefits the whole company. Any time an employee’s goals are considered along with the goals of a company, everyone wins. There are many training courses in Brisbane that can help a company and an individual further their education while still working in the field. Business courses are readily available online allowing individuals the convenience of learning from home. Furthering Education during Employment Professional development through training courses in Brisbane will take a time commitment as well as a possible financial commitment. However, this does not mean that a person should neglect it. The benefits of professional development are numerous, especially in today’s economic climate. Many people who have lost jobs have stated that they were not diligent in pursuing further education to help ensure that they…

The Two Most Important Elements Of Business

Small business owners typically have to wear all sorts of hats in the company.  The typical small business owner may fill the role of CEO, COO, CFO, and CMO at the executive level, and it is common for the same owner to have to regularly fill the role of frontline employees, such as the administrative assistant, the tech team, and the sales rep.  Trying to balance all of this out can be exhausting.  And even worse—it can be damaging to the business. As an entrepreneur it is easy to get distracted by non-essential tasks.  This can be devastating because in the early stages of a business’ life, staying afloat is often the number one challenge.  Therefore, there is not a huge buffer of cash to allow for business mistakes and non-essential tasks to eat up an entrepreneur’s time.  Peter Drucker…

4 Tips for Improving Your Office Ergonomics

Office ergonomics – perhaps you have already heard about the word, perhaps not. That does not really matter. The truth is that a huge percentage of us is spending every single day in an office environment. There is no need to judge whether that is a good thing or a bad thing, it is just the way it is. The thing that we have to do – since it is practically impossible to change our office lifestyles – is to try to improve our office environments in a way that will help us get through our routines without any negative effects. Even though you might not have not heard about office ergonomics yet, you have certainly already heard at least some tips about how your chair and computer desk should be set up. Those are the basic tips that everyone…

Pros and Cons of In-House and Outsourced Telemarketing

Telemarketing is one of the most effective ways to extend the horizons of your business. And getting the right ones to do the most effective job is the uphill task. Especially when you are caught up in dilemma of an outsourced and in-house option, the best is to assess the needs of your business and then make that big decision. Based on your needs and the advantages and disadvantages discussed below, choose the right kind of telemarketing service and thereby get benefitted. In-house telemarketing Advantages The first and foremost advantage of having an in-house telemarketing service is the direct access you have to the clients which is based on your business requirements. By having the direct access, you can hire the right kind of people whom you need for the job and train them accordingly. So, managing your resources becomes…

Preserving The Good Name Of Your Business

In business, one of the most important aspects of any business is the reputation of the business itself.  By upholding a good reputation, the business is telling its customers that they care about their image, as well as their customer’s opinions. By hiring professional reputation managers, businesses of all sizes are able to breathe a bit easier about their image. What Does A Reputation Management Service Do? Reputation management services provide maintenance.  This is not the kind of maintenance you would order for a printer, website, or database, however it is equally as important.  These services maintain the company’s reputation. In order to maintain a company’s reputation, in-depth searches must be done to find out what kind of information is out there regarding the company.  These searches bring up blog posts, reviews, client comments and many other every day postings…

Dubai, A Perfect Place to Do Business

Location can play a huge part in the success of a business. Ask any business owner, anywhere. Being in the right place, and at the right time, too, can often mean opportunity presents itself when otherwise it perhaps wouldn’t. The Middle East is perfectly placed in that respect, with major emerging markets to the east and west. Add minimum red tape and bureaucracy and a strong international banking presence to the mix and the decision to move there becomes decidedly easier. That’s why the United Arab Emirates (UAE), and the city of Dubai in particular, is increasingly seen as the perfect place in which to do business. A case in point is the rapid rise of Dubai International Financial Centre (DIFC), the financial and business hub which connects the region’s emerging markets with the developed markets of Europe, Asia and…

Business Budgeting for Start-Ups

A budget, like a business plan, is absolutely necessary for a start-up business venture. Without a budget, the owner will not know if he or she has included everything. There will be no picture what the business will look like at the end of the year without revenues estimates. Often business start-ups are short on available funds. There is often a time constraint on how long the business has to break even and start making a profit. A budget that shows an eventual profit makes a case for a valid, sustainable business. In addition to providing a picture of the business, the budget is at the same time, a road map. Extending income and expenditure out into the future will give the owner (and possibly investors or creditors) an idea of what the route the business will follow and describe…

Branding for Startups

Many experts agree that branding should start as soon as the company is formed. As prospective customers, friends and business peers ask about the venture, the words used to describe your company begin the branding process immediately. For this reason, it is critical that some serious thought be given to branding before company representatives begin making statements that will shape the company’s image. Viable questions that must be answered for branding purposes relate to understanding who your target market is, and the benefits you want them to associate with your company brand. How a business differentiates itself from competitors must be clearly communicated. Depending on the target market, the message can be quite different. Focusing on a few memorable sound bites that summarize your company’s competitive edge is a proven way to make a memorable impression. Communicating this message to…

Understanding the Universe of the Promotional Items Industry – from Buyer to Supplier

There are various elements making up the promotional items industry: manufacturers; distributors; and buyers. The manufacturer makes the items in question, providing a range of branding types and opportunities for the end-user. The distributor is the channel through which the various products make it into the market; and the buyer is responsible for finding the products most suited to a specific branding initiative or advertising campaign. The more information each of these industry strands is party to, the better the overall landscape of the promotional items can be. For instance, the distributor can distribute more effectively when he or she has access to complementary services (like website designers); and the buyer is given more power when he or she is able to define the likely success of different types of promotional product. If you have access, for example, to information…

Why You Need A Franchise Lawyer

So you’re buying into a franchise. Needless to say, you’re about to make a big life decision. And for any big decision, especially one that you’re investing tens – perhaps even hundreds – of thousands of dollars into, you’re going to want to make sure that it pays off in the end. That’s why it’s important to have guidance along the way, whether you’re a franchise prospect or a franchise owner. A part of this guidance is hiring an experienced franchise lawyer. So what exactly is a franchise lawyer? Specifically, they help franchising prospects understand the legal issues associated with buying into a franchise. While this is more of a preventative measure than anything else, hiring someone to read between the lines and understand the legal rules and regulations associated with franchising is something that can prevent you from making…

3 Clever Ways to Advertise Your Event

Planning a successful event takes a lot of hard work, dedication, and creativity. Arranging and running the event is only half the battle. If no one shows up for it, the event itself simply can’t be a success. Fortunately there are a variety of ways that event organizers can effectively get the word out without spending too much of their advertising budgets. Postings This massive website can be used for more than just selling a used car, finding a roommate, or setting up your next blind date. In the Community sections of the metropolitan pages, there is a sub-category called “Events.” Here you can post a listing for your event at no cost to you. The caveat is that you are relying on your potential event attendees being able to find your listing and getting the necessary information about the…

Options for Promoting Your Business with Promotional Clothing

Whether your business is a start-up, or you have been running for some time; finding effective and unique ways to promote your business on a budget is a challenge in itself. Every industry is competitive right now, which means that standard marketing techniques are familiar to customers and may not be as effective as they once were.With a little out of the box thinking, and a little research, there are many ways a business can advertise and market products and services without spending much at all. Promotional clothing is a marketing technique that has been around for a long time and is a highly effective method in getting your businesses name or brand out there for the public to see. Brand marketing is vital and really important, especially for a start-up business. Getting your businesses name out there is essential…

Overview of Business Branding

Your company’s brand is going to play a significant part in evaluating what consumers think of your products. Simply put, a brand will develop an image in the minds of your target audience and clients. Therefore, you need to be extra careful when implementing business branding strategies. Distinctive logo For the success of your business, it is quite important that your logo is unique and you use it on a regular basis when it comes to business marketing and promotion. It will go a long way in ensuring your business gets established as a brand in a quick time. For example, majority of individuals linked the image of the “golden arches” with McDonald’s. Catchy slogan When your main objective is to reinforce your brand with your target audience, you will require a catchy slogan. Another good thing about a catchy…

5 Common Mistakes that Prevent Your Small Business from Growing

The competition is stiff for small-business owners, and if you want your business to grow and succeed, there are certain things you should and shouldn’t do. Hard work, commitment and dedication are critical as you endeavor to turn your business idea into a booming small business. Although it’s normal to make mistakes along the way, there are certain foibles you want to avoid, if possible. Consider these common mistakes and use them as a heads-up to help you improve your learning curve on the way to small business success. Don’t be Ruled By Fear or Risk-Taking. A solid middle ground will help you move forward in your business without going overboard. Many first-time small-business owners find themselves paralyzed by the fear that they’ll make mistakes. While others take the all-or-nothing approach and dive right in without a lot of thought….

Creating the Right Impression for Retail Assistants

In the world of retail, first impressions count.  If your sales assistants are inattentive, dishevelled, or rude, then you could be losing customers. It’s hard to change the attitude of an employee; some people are simply good with customers, while others aren’t – however, you can change the way that people present themselves.  The right uniform can make a big difference. Uniform Design for Retail Most major stores make use of uniforms for their customer facing employees.  There are a few reasons for this.  Firstly, enforcing uniforms is easier than enforcing a dress code.  Secondly, uniforms make it easier for employees to spot each other, and help customers figure out who is staff, and who is a customer, so they can ask the right people for help when needed. A good uniform can improve morale too, making your employees feel…

Competitions and Your SMS Marketing Campaign

SMS marketing is an effective way to reach out to your customers, but building a large opt-in SMS marketing list, and encouraging the people on that list to respond to your messages – rather than those of a rival, can be quite difficult; especially if your rival has a bigger budget, and is able to run campaigns across several media, such as magazines, billboards, or the radio, as well as bulk SMS. One way to build an opt-in list quickly is to run text competitions. Competitions build excitement and engagement, and can generate goodwill too.  You will need to spend money on prizes, but if the prizes are topical and interesting enough (perhaps a new iPhone, or a small holiday package), then you should easily get enough people joining your list to recoup the cost of the prizes. Free vs…

When to Re-Think Your Business Strategy

The world of business can be an ever-changing tapestry of conditions and problems. No one strategy can carry a business from decade to decade. The general economy, taxes, product availability and the changing tastes of customers all create constant challenges. A number of signs can indicate that it’s time to review your business strategy to ensure that you have taken these changes into account. Monetary Losses One of the first ways a business owner realizes that something is wrong is through monetary losses. This problem may be felt as reduced sales, increased costs or a variety of other situations that hurt the bottom line. Unfortunately, this realization often occurs after the fact, at the end of a financial quarter or year. Analyzing financial data on a weekly or monthly basis is a more advantageous way to catch problems before they…