Have you ever thought that you can make the world a whole lot easier for yourself with some online business tools?

They are cool! They save you a lot of time and help you sync your business activities seamlessly. It means you don’t have

to worry about trivial paperwork and other issues. You can automate them and leave it to themselves. I have collected three of my favourite online tools for business that will save you trouble,money and of course,time.

#1 Shoeboxed

Fed up with book keeping before it’s begun? Shoeboxed is an automated filing system for business receipts and paperwork. You can upload your paperwork through their free online and desktop uploaders, via email or with one of their free mobile phone apps. Simply scan and send, and let shoeboxed compile the rest. Ideal for start ups, and competitively priced, I think it’s a great way of keeping organised, and takes the headache out of hoarding papers, tickets, business cards, invoices and receipts.

#2 PR Web

Looking to get the word out about your business? Choose PRWeb as your news release distribution service.  PRWeb press releases deliver your business news to all the search engines such as Yahoo!, Google and Bing, putting your business right where your customers are looking. Their packages start small, and as the price increases, you can send your story to all the major local and national news websites, as well as PR Web’s database of over 30,000 journalists, bloggers and influencers looking for stories like yours.

 #3 MOO

Moo.com is and online business printing and stationery service. With hundreds of business card templates, your cards can be designed and ordered in minutes. MOO also supply cards, notecards, greeting cards, stickers, accessories and gift cards for your business.

Printing over 6 million cards every month, MOO has hundreds of thousands of customers in over 200 countries. Their excellent turnaround times and delivery makes them the number 1 choice for business start ups and growing businesses alike.

Have you found any great online business tools for your start up? What online business services do you find saves you the most time and money?

For business startups with limited budget creating a high-impact marketing can be a tough and demanding job.

Traditional marketing like radio and newspaper ads, brochures and banners will instantly eat into your marketing budget. The good news is, it is possible to introduce a killer marketing campaign at a very low cost!

Image courtesy of Stuart Miles / FreeDigitalPhotos.net 

3 Reasons to Use Low-budget Marketing Techniques

#1 You can repeat these low-cost marketing strategies over and over to get your company message and brand image across to potential customers (which affects buyers’ decisions enormously). It is effective and it won’t cost you an arm and a leg!

#2 You can direct a low-budget marketing plan into several marketing channels as opposed to traditional marketing mediums. For example, the money that you would spend on a single newspaper ad campaign can be spent on email marketing, social media and your business website combined, to create a larger, more sustained campaign.

#3 With this kind of business marketing plan you can test your campaigns relatively cheaply and stop spending money on a medium once you see that it is not effective. You can experiment with different channels and choose the one that best suits your business.

Her are 5 low-budget marketing techniques:

#1 Finding your target market

Probably the most important part of your marketing plan is finding the right target customer for your business. What you need to do is to split your target market into easily identifiable chunks and then carry out your marketing plan accordingly. For example; If you are setting up a personal training company in your local area, find conversations on Twitter, local groups on Facebook, LinkedIn Groups and local Forums, and find out the cost of placing a banner ad on the site or get involved in the group conversations and message boards as a helpful expert in your niche.

#2 Guerilla marketing

It doesn’t always have to cost thousands! Low cost guerrilla marketing tactics are often a great success and can propel a company image overnight. For those who haven’t heard the term before, guerrilla marketing is a kind of advertising strategy in which un-conventional means are used to promote a product or service. Guerrilla marketing is different to traditional marketing in that it mostly relies on personal interaction and word-of-mouth. You can focus on smaller, more targeted groups to spread the word instead of large-scale media marketing campaigns. Think outside the box for example;  you could introduce a viral YouTube video to be shared across the social media sites, you could ask for customer participation or customer video responses. Maybe ask a public question where people post images of themselves with your product.

#3 Referrals and Loyalty Discounts

Another surefire way to reach new customers is by a system of business referrals. This method is cost effective and proven to increase sales. Word-of-mouth is a powerful tool when it comes to people making decision about buying a product or service. One satisfied customer telling others about your product can do far better than any advertising campaign. Offer an incentive to refer your next sale; you could give a free gift, a discount or some other reward, specific to your business.

#4 Collaboration

You could partner up with another business and help to promote each others services. For example, if you are running a restaurant you could offer local businesses discount coupons or free items from the menu in return for advertising space on their premises. Again, what you offer and what you get in return will vary, so be sure to contact businesses that you believe your potential customers will be frequenting.

#5 In Person

A great way of building credibility and helping spread the word about your services is to offer free seminars, webinars or lectures which focus on building awareness about your niche. This will help place you as an authority in prospective clients’ minds. Find local pubs, bars, restaurants or function rooms – many will let you have a space free of charge if you can guarantee a set number of attendees, as they will purchase food and/or drink on the premises. You could start a regular free Meetup for people to attend, to help build your business brand.

Summary

As you dig deeper into marketing for your small business you will explore more and more inexpensive strategies. Before you launch any business marketing campaign, take some time to think ‘outside the box’ and brainstorm ways of using some of the powerful free social media and other online channels in your strategy. Feel free to add your ideas below or share some successful business marketing campaigns you have created on a budget.

Using Social Media For business

So what are UK small businesses using social media for and how are they using it? Find out how from this infographic created by Sage.

This interesting research carried out by Hiscox has been turned into an infographic by Sage and presents some interesting statistics for Facebook, Twitter and Linked in.

Research shows how uk small businesses value social media as a part of their marketing plan and how they are using it to help build or strengthen their business.

Interesting statistics include;

• 27% of small businesses use social media to increase brand awareness
• 15% of small businesses use social media to boost sales
• 13% have their own blog
• 81% see the value of social media as a business tool
• 14% do not separate their personal profile from professional on social media
• 57% use social media to support their marketing efforts

Many of the figures show huge potential for small business owners to use the various social media platforms to build a loyal company following and increase their audience. With just 57%  currently using it as a tool for marketing and promotion, it shows there is potentially more scope and maybe even some untapped resources still left for small businesses on social media, especially from a local business aspect.

This infographic was produced by Sage UK

I was quite surprised to see that just 13% of those surveyed are using a blog for their business. A blog is an excellent way to communicate with your customers and can really help grow brand awareness online.

Interestingly enough, Facebook still seems to dominate the charts when small business owners were asked ‘where is your audience’ – I am not sure if this is due to lack of knowledge or experience on other social media platforms, or whether Facebook truly is still dominating the social business marketing arena.

I know many business owners who are exclusively using Linked in now for networking, recruitment and promotion, however these are mostly B2B businesses, hence the lack of casual interaction on Facebook.

Sage have also created a handy guide for your business to download free. You can get a copy here

Which platform do you tend to use most? Have you had huge success on Facebook and none on Twitter? Are you aware of Linked in for business or have you chosen not to explore another platform? Please comment below.

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Image courtesy of ddpavumbaFreeDigitalPhotos.net 

Funding your business start up is often something that can stop your business idea in it’s tracks.  Where will you get the money? How much do you need to get your start up going? What can you do to ensure start up loans? All of these questions may not be answered here, but I do have three tips for funding your start up.

#1 Utilise savings for funding your business start up

Personal money saved up for funding your start up is the best option. If you do not have enough then you can look at other options, however it is always recommended that you start saving towards costs as soon as you are sure that you want to set up your own business. The ideal situation would be to have a year of operating costs saved up for your business start up. This amount of money should not be what you need for your mortgage and personal expenses. It should be enough to support the business only; you will need to save separate funds for your personal expenses. Get into the habit early and start separating your personal expenditure with your business accounts. One idea would be to set up a new bank account for business purposes only, ultimately keeping everything separate and manageable.

#2 Decide on whether a business start up loan is suitable

If you find you do not have enough funding for your start up, then you have to make a choice. Do you wait another year until you have the appropriate funds or do you look for start up loans? The US government has been very helpful of late to establish grants and funding options for small and new businesses as a way to combat the recession issues. Banks are still holding tight especially for start up loans. They may make it very difficult by asking that you have at least enough funds for a year or 80% of the start up costs in your savings account. Still, loans can be helpful if you qualify. The downside to loans is that most businesses fail within 5 years and you may still need to pay the start up loans back. Most experts suggest you avoid loans, but if this is not possible be sure to carry out solid research and to prove your business can be a success and profitable.

#3 Seek investment for start up funding

Investors are another option to business start up loans. Investors are quite helpful if you know someone willing to split the company in terms of investment money. You will need to present a strong business model and provide potential investors with a business plan and summary of your company mission. Initially, you will  want to be the majority owner. You definitely want to use as much of your own funding as possible as this helps you retain control of your company. Decide what type of investor you want to attract – sometimes it is preferable to have a silent investor- one that is not going to want to have daily input in your business.

While you may not find a silent investor easily, look for one or consider taking on a partner you know you can work with and has the same vision as you. Partners in a business start up could bring a bit more capital to the table and have an extra employee to help you out. There are pitfalls though, so ensure you think through all the options first.

Your turn! How did you manage finances when you started your business? How are you planning for the costs associated with your start up? Please share your experience below.

Image courtesy of renjith krishnan / FreeDigitalPhotos.net

If you are operating a business with a lack of cash flow, chances are there is money to be found if you know where to look for it. Many SMEs just aren’t aware of all the options available to them when it comes to finance and funding and this is exactly why so many are faced with insolvency. Instead of continuing on your current path, take a few moments to explore ways in which it is possible to obtain that extra influx of cash to meet your day to day expenses. This brief guide to finance and funding for your business in 2013 should help you see that cash flow doesn’t need to be a problem. You simply need to understand what is out there and how to go about cashing in on it.

Factoring and Invoice Discounting

By far the most common method of obtaining funding in today’s economy is factoring and invoice discounting. This is quite popular amongst small businesses because a loan is made to the company based on outstanding accounts receivable. The factor or discounter will take a look at your books to see exactly what is owed to your company and will lend an amount up to 85% of what is outstanding. Bear in mind that these must be B2B accounts (business to business) and not a ledger full of outstanding invoices to the general public. In factoring the lender will take over your accounts and collect payments where is in invoice discounting the business maintains control of their books.

Trade Finance

Although trade finance is not optimal for all businesses, it can be a viable solution for those companies that meet certain criteria. For example, sometimes a trade financier will lend money over a short period of time to a business that has a solid history of meeting orders and the profit margin is relatively high. Perhaps there is not enough money to meet the current order so the lender is willing to make an advance against expected profit once the order is filled. Usually trade finance is sought when there is a lack of more conventional loans because of the current credit crunch where banks are holding tighter reins when lending.

Asset or Equity Finance

When a company is in need of a quick loan, asset or equity finance can be the ideal solution. Sometimes there is a slump in business due to unusual circumstances. Seasonal demand may be low or there could be other reasons why products are not moving at the moment. A lender will sometimes make a loan based on the value of merchandise ready to be sold. It should be noted that this particular type of financing is contingent upon the lender’s ability to see value in your products. This would not be a loan for the service industry as there has to be some tangible (equitable) goods to guarantee or secure the loan.

Business Angels

In recent years, business angels have become prominent in the world of finance. A great number of investors are out there looking for somewhere safer than the markets to place their investment capital. These are usually private individuals looking for a good return on their money who are willing to invest in viable businesses. They can be thought of as a type of silent partner in that they are usually not made directors of the company, but they inject much needed capital to keep the business trading. It will take a solid business model and proof that the company has the potential to show a profit, but there are an astounding number of investors out there willing to take a risk.

Government Grants

Depending on the industry, there are also government grants available which are intended to help stabilise and grow the economy. Certain industries are more apt to qualify for government grants such as construction and building enterprises. A good financial adviser will be able to help struggling businesses research grants available to them and this is money which may or may not need to be repaid. Often there is very low interest on those loans needing repayment so if you qualify this may be worth your time and effort to investigate.

Some Final Thoughts on Finances

Rather than struggling from day to day waiting for that first creditor to petition a winding up order, take the initiative to find finance and/or funding. If there simply seems to be no way to qualify for a loan, talk to an Insolvency Practitioner about keeping creditors at bay with a Company Voluntary Arrangement. No, this is not a loan but it may enable you to pay pennies on the pound towards outstanding debt. It is not the same thing as bringing in a quick influx of cash but it would certainly reduce your monthly repayments which in turn would free up money for day to day expenses. You can survive the current credit crunch so don’t give up just yet.

Running a business, no matter how large or small, you need to ensure that you have some systems and procedures in place. Even if it is just little old you right now, having basic templates, pricing schedules, filing and accounting systems allows you to work much more effectively. And if there is more than one of you, all of the following are even more important to stay consistent and organised.

Templates

Under this umbrella come things such as:

• a proposal template
• an invoice template
• a contract
• a pricing schedule
• a services overview or brochure

All of these can be very simple, one page documents. Simply start a new WORD document, insert your logo and contact details, and fill in the rest. If in doubt, keep it short and to the point. It looks much more professional to have these things ready if a client asks and you can feel more in control.

Accounting systems

Invoicing IN; Invoicing OUT. Repeat this five times. Now create a folder (either electronically or paper copies) and keep track of all invoices in and out. It helps to keep a spread sheet listing all invoices you have issued and the amount and what the work was for, and then mark off when it’s been paid. Likewise, it can help to do the same with invoices you have to pay to suppliers. It doesn’t have to be as hard as it seems. Spend 30 minutes on this once a week and stay on top of the most important factor in your business: cash flow.

Emails and correspondence

You may choose to print documents and emails out and keep hard copies of things in a filing cabinet. Great idea, just make sure that you actually file things away rather than having a huge pile of paper work all over your study (or your dining room table!)

If you choose to keep a paperless office, this is great too. Keep your email inbox organised, create subfolders and flag important items and move emails once you have finished with them. Back up your computer so that all your work is not lost should there be an issue with your computer.

Dear Diary

Keep a work diary and factor in personal time too such as lunch breaks. If someone invites you to a meeting or an event, for goodness sake put it in your diary. Make sure you can send and receive diary invites. You can also categorise diary entries into business, personal, networking, accounting and so on.

As you can see, a few simple steps can help you grow your business. How can you grow or make more money if you do not even know what you owe to suppliers or have an up to date diary. Spend one hour each week sorting things, and updating templates to ensure you are up to date, organised and in control.

The Sage Business Experts Programme Is Now Live!

I am excited to announce that I have been selected as a Sage UK  Business Expert, supporting UK small businesses.

Last month, Sage selected well-connected business people to join their experts programme aiming to support and advise the UK business community via social media and building online awareness.

I am honoured and very excited to be a part of the experts team and to provide even more online engagement with UK Business owners. The programme ties in really well with the support that I provide for business starts ups, and I think it will be great to share business insights from Sage with my online communities.

Sage Business Experts were chosen for their;

• Contribution to the business community – sharing knowledge and helping others improve and develop their businesses
• Knowledge and influence – from first-hand experience, Sage Business Experts have a wealth of understanding about business challenges and solutions
• Online presence – from forums and Twitter, to LinkedIn and blogs, Sage Business Experts are extensively connected

It’s great news that Sage are embracing Social Media and Influence and incorporating it with their programme to increase online awareness for both the business experts and their software, products and services. It reflects my work extremely well, and will hopefully help me share more exciting news and content for business owners.

About Sage

Sage is a well known and powerful Global business and accounting software provider, but what is little known is they are currently supporting a wide range of businesses by offering help and guidance on marketing, social media and other essential aspects of business.

Working with entrepreneurs and businesses from small one person start ups, right the way through to corporates, Sage provide a wide range of services and products, tailored to suit your company needs.

Sage Provide Software and Support Services for a wide range of products, supporting industries in the following;

• Finances
• HR & Payroll
• CRM
• Planning & Forecasting
• Retail & Ecommerce
• ERP
• Manufacturing
• Service Management
• Accountants and Bookeepers
• Construction

Summary

You can find out more about the Sage Business Experts here

I will update more with business news and insights from Sage soon!

It’s been a tough couple of years for the Small Business Owner and Entrepreneur.

Read on and find out the latest global stats from business owners and see the latest INFOGRAPHIC from Hiscox.

Bad Press…

The Media have reported lots of  doom and gloom on the economic front, bad press for the banks, and tough times for small businesses. We are regularly presented with grey outlooks for growth and business stability, and are almost constantly being told about low outlooks for growth.

High Hopes…

It great to know though, that all is not bad. There is still hope for small businesses and entrepreneurs in the UK, some parts of Europe and of course, the USA. The statistics shown on recent research by HISCOX shows that many enterpreuenurs have high hopes and a great deal of confidence for the coming business year. Over 48% of them are optimistic about the year ahead and 45% of them have reported growth in profits in the last 12 months, which is great news for us all.

Less Layoffs…

Business owners and entrepreneurs outlook seems seems much more positive for the year ahead, reflected by a massive 75% of them predicting new staff recruitment and avoiding layoffs. This is great news, and indicates the possibility of some strong growth for businesses next year.

But More Stress…

Of course there is nearly always a downside,  Increased stress was the biggest single personal impact of the downturn, reported by 43% of all respondents. Perhaps significantly, this shows no increase on last year, although most SMEs are finding life tougher. I think most entrepreneurs are at least doubling their efforts, which sets it’s own price.

Determined To Succeed…

Research shows that the downturn also strengthened the resolution of SMEs. Three in ten respondents (30%) said that it had made them stronger and more determined to succeed and 31% said that it had spurred them on to work more efficiently. More efficiency means more business, and this should help stabalise the business markets and increase sales and profits for 2013. Easy Offices UK who offer serviced offices all over London, also reported an increase in enquiries for new and expanding businesses.

Source: HISCOX

SUMMARY

This is great news for business owners entrepreneurs and shows just how committed and determined we are! Hopefully 2013 will prove to be a better year for many businesses . Long may the positivity continue!

Business Start up Checklist

So, you’re going to go it alone. You’ve finally decided that you want to set up your own business. This may be one of the biggest decisions you ever make; don’t jump in too fast, there are some important things that you must consider before you actually take the plunge.

Using this business start up checklist will help you focus on the roadmap for your new business and work in a more organized and effective manner when everything ‘goes live’

What Kind of Business Do You Want to Start?

1. A part-time or a full-time business?
2. Do I want to launch a business based upon my own idea – a completely new product or service?
3. Buy a running an established business model (franchise?)
4. Do I want to start the business on my own or I want to do it as a partnership?
5. Managing someone else’s business?

Research Your Business Idea

Image: FreeDigitalPhotos.net

1. Do you have enough financial resources to go ahead with your idea?
2. Is there scope for your business? How scalable is your idea?
3. Research your competitors. Check if it is possible for you to make an impact with the existing competition and grab a good share of the market.
4. Find out what unique selling points (USPs) you have.
5. Check price points. Fin out how you can add value.

Prepare a Business Plan

1. What are your main business goals?
2. Decide on the location of your business and the associated costs.
3. What is your break even point?
4. How will you finance your business? Think cash flow, profit and loss and projected sales.
5. Define your marketing strategy and budget for a minimum of 12 months.

Get Training

1. Prepare yourself. Gain as much business skills as much you can.
2. Read business books.
3. Attend various business training courses.
4. Join business support networks and keep up to date with training workshops available.
5. Contact your local chamber of commerce and ask what help is available for business start ups.

Choose Staff For Your Business

1. Decide how many employees you will need (if any initially)
2. Don’t start employing people until you really need them because this will cause you extra expenses. Create a budget for staff.
3. Hire the best people available at hand. Never compromise on the skills and capability of your workers for lower wages.
4. Use references when hiring staff.
5. Clearly define roles within your company before you hire.

 Name Your Business

1. Choose a name for your business. The name should be unique and self-explanatory. It should also be brief, simple and interesting.
2. Make sure no else uses the name.
3. Check no one has taken the domain name if you started with the name that you have chosen because then you will not be able to have your website or blog with that domain name.

Register Your Business

1. Decide in what capacity your business will trade i.e. sole proprietorship, private limited company etc.
2. Register your business with the appropriate registering body.
3. Seek professional advice when setting up partnerships or limited companies
4. Run a check for trademark names and availability.
5. Discuss your business name with friends and family. Make sure it makes sense!

 Location

1. Set up your office. (You have decided if it will be at home or if you will need premises)
2. Find the best location for your business.
3. Get the infrastructure ready for your office i.e. internet connection, phones, furniture etc.
4. Check footfall in the area if you are opening a bricks and mortar business (local councils can help you with this)
5. Keep records of pre-set up costs and equipment to sumbit with your first year accounts.

Marketing

1. Develop an affordable marketing strategy.
2. Get your business cards ready, complete with all the details about your business including addresses, phone numbers and web presence.
3. Write a brief overview of your business and send it to the local newspaper. Find an angle for publicity and mention your USP.
4. Set up your business website.
5. Create a presence across social networks and start building a fanbase,

 Legal and Professional

1. Get legal, professional advice for anything you are unsure of. It can save you tons of money in the long run.
2. Get your business insured.
3. Find out what taxes you will have to pay and start planning ahead.
4. Find out rules and regulations you will have to follow.
5. Seek advice about tax breaks for start ups.

Suppliers and Distributors

1.  Choose your suppliers and distributors carefully.
2. Reach as many suppliers as possible so as to cut costs.
3. Always keep a backup list of suppliers  in case of problems with existing ones.
4. Talk to distributors. Clarify terms and conditions with them.
5. Negotiate payment terms and ask for extended credit where possible to help with cash flow.

Keep Good Records

1. Keep good records of everything that comes in and goes out of your business
2. Consider setting up a separate business banking account.
3. Make sure you understand the book-keeping process.
4. Discuss keeping accurate records with your accountant
5. Submit everything on time and in good order to save money at year end!

Business Start Up Checklist Summary

The main focus here is keeping good records and planning a strategy for your business and always ask a fellow business person or a professional for advice. Remember there are lots of support networks for new business start ups, quite often there will be one in your local area. Never be afraid to say you don’t know something when starting up, you will gain more respect by asking intelligent questions, these support teams are used to helping people starting out every day.

Social Media Facts and Figures 2011.

I was having a conversation with one of the marketing directors for a well known Motor Factor yesterday, we were discussing his taking over of a £450,000.00 marketing budget for the independent retail arm of  their branded carparts and accessories.

Most of the budget has already been spent on radio and magazine campaigns already, and there’s still little or no sign of any real consumer awareness on the ground. I disagreed with the allocation of the marketing budget at our last quarterly meeting and discussed Facebook and Social Media in general as an option for a faster, more targeted and more measurable ROI and suggested running test campaigns for them to start getting some feedback and results. This was promptly ignored and here we are, three months down the line, with no real results to look at.

When I mentioned Facebook and he said ‘we’re not targeting that generation, most of our targeted audience are still using traditional forms of media such as paper, magazine and radio’

Oh dear…So I went off to gather some information to present to him, and found this great info-graphic, which shows results that show the complete opposite of the traditional ‘social media is a teen world’ stereotype.

For those of you who are still ignoring the Social Media Opportunity, I wanted to share this breakdown of demographics, compiled May 2011.

The results really surprised me, in fact the 21-54 market is on the rise and is much bigger than most perceive. Although you still need to drill down on the stats, reports and figures, I think it’s a worthy read.

Source