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!

3 Disadvantages of Running a Business

Running a business is not for the faint of heart. You must be willing to put in the time and effort to get your business fully operational. If you’re new to the world of entrepreneurship, it is important that you educate yourself on the multiple facets of starting a business. Although you may not get everything right the first time around, knowing what to expect in running a business will go a long way in helping you meet your business goals.

Responsibility

As a budding business owner, you’ll be required to carry out the majority of work, especially if you’re unable to hire employees to help you with your day to day activities. With one person in charge of several tasks, the productivity and efficiency may suffer greatly, since you do not have a team to whom you can delegate tasks. With a team, you’ll be able to spend more time on tasks of which you’re highly knowledgeable and assign the ones which may take you a longer time to complete to employees who are more skilled in those areas. As an example, you may be quite knowledgeable in the area of human resources. However, your business requires persons with expertise in marketing, product sales, and accounting. Due to your lack of skills in those areas, you may end up dealing with work overload, and before you know it, you may end up becoming burned out.

Financial Risk

When running a business, you must be prepared to invest in your venture.

If you’re unable to put out the funding, you may have to borrow money and end up in debt to start your business. Whether you invest or borrow money to start your business, the capital used to do so will be linked to the business’ success. If you’re unable to manage the finances of your business wisely, you’ll be responsible for sending it into financial ruin. The financial risks are higher with sole proprietorships and partnerships than limited liability companies. In addition to the financial risks, you may encounter delayed profitability if your business is not established at the appropriate time.

Lack of Benefits

Health and life insurance; retirement plans; paid holidays; sick leave; training opportunities; annual increment pay; 401(K) plans; and travel allowances are just a few benefits you’ll have to forfeit when initially running a business. Even if you were able to secure health insurance, you may end up paying a higher insurance rate. Small businesses are charged higher rates than large companies, since small businesses are less likely to secure group rates.

Although there are disadvantages to running a business, you can take the necessary precautions to decrease the likelihood of such occurrences.

Educate yourself on the responsibilities you’d be required to fulfill in your business. Create a financial plan for your operations. Prepare yourself to forfeit certain privileges that you may have had if you were an employee. Following each of these steps will allow you to establish a solid foundation when getting started. Furthermore, you would decrease your margin of error for running a business.

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Starting your own business? Or even growing your current business? I’m giving away a free ticket to my interactive workshop on November 17th valued at £295

Starting your own business can be a scary thing for anyone, especially when there are so many things to consider to make it a success from the get go. That is why I am putting together an interactive workshop (the first of many) to help you get you off to a flying start for 2013.

In just 8 hours you will have a solid strategy to
starting your own business GUARANTEED!

Are you fed up networking, attending events and business shows and coming out more confused and overwhelmed than ever? Is the idea of or planning or growing your current business a little overwhelming to say the least?

You need to write a business plan, you need to map out your marketing strategies, you need a social strategy – and that’s just the start. It’s all these different elements to consider that can put people off even getting started.

With this in mind I’ve got together with some of the  greatest business teachers to give you an amazing day that will change the future of starting your own business forever. With our combined experience and proven strategies, we’ll take you from A-Z with your business plan and you’ll leave with a new sense of direction and focus.

Thee is no hiding the fact that our economy is suffering and 2012 has been another tough year for business and career opportunities alike. But its not all bad news. Opportunities for starting your own business and growing businesses have never been higher. Some of the worlds most successful companies were built during world recessions. This is your chance to be one of the businesses that are thriving.

The investment for my workshop is £295 and we’ll give you over £500 of free gifts vouchers and discounts for you and starting your own business. But even if you have already got a business and you need to grow it, I can help you with that too. This is possibly the best investment you’ll make in your business all year!

But I’m also giving you the chance to WIN a ticket by just entering your details HERE – starting your own business has never been easier!

Make that commitment to yourself today to do everything you can to make your plans a reality. Once you say yes to yourself, the rest falls in to place. I wish you the best of luck with your entry and look forward to meeting you in person if you decide to join us in my starting your own business workshop.

Did Facebook Just Pull The Plug On Business Pages?

I’m not sure if you have noticed recently, but Facebook Pages have undergone something quite spectacular in the past few weeks. Apparently it is all down to a recent algorithm change, however nothing official has been released yet, so it is entirely speculation.

My personal experience shows a noticeable decline in reach on updates and posts, some posts on my StartMeInBusiness Fanpage were only seen 105 times, which with over 2,000 fans, leaves a lot to be desired and a huge question mark over exactly what is going on!

Armed with my fan reach information, I decided to check into other business/brand pages that I manage and which have been performing well over the past few months with organic delivery of updates.

Pre Facebook Algorithm Change

Post Change (same page)

RESULT:  Similar findings,with the addition of a decline in engagement and an increase in the promoted post reach tenfold.

So what’s happened?

My gut feeling is that Facebook are encouraging Businesses and Brands to increase their use of Facebook advertising opportunities such as sponsored stories, promoted posts and their new style Facebook ads that incorporates offers.

This therefore increase their revenue model and sets businesses with huge advertising budgets in their line of fire!

Here are todays stats from Page Data showing the increase and decrease on the top fan-pages for brands and businesses alike.

What Can You Do To Help Sustain Fan-page Growth?

Well, no-one really knows right now. Here are a few guidelines for managing your Facebook Business Page. Hold out until there is an official update before making any radical changes.

1. Get ready for it. Many organic page posts are about to decrease anywhere between 5% and as high as 40% Apparently pages following best practices will remain largely unaffected. ( Social@Ogilvy)
2. Facebook is growing it’s organic/paid ratio, where 80% of the newsfeed is organic and 20% is made up of sponsored stories, promoted posts and such.
3. Brands will need to develop their target accordingly and model it to the news-feed.
4. Posting will need to be done at optimal times, so analytics will need to be monitored closely via Page Insights for your fan-page.
5. Try to post audio, photo, video twice a day at optimum times where possible.
6. Use Promoted Posts and sponsored stories to reach a wider audience. Carry out a small test with videos, audio, photo, text at various times of day to suit your audience demographics and find a suitable budget. Create a model based on these results.

I will be investigating this further and will post again when I have some updated information and some hardfast guidelines.

What have you experienced on your Fanpage for Business? Share your story below.

7 Essential Components of a Business Plan

Creating a business plan does not have to be an insurmountable task. If you plan on doing one yourself, here are seven essential components to incorporate into your business plan.

Executive Summary

The executive summary provides readers with an overview of your company. Details such as its current position, future goals, and plans for achieving these goals are outlined in this section. The executive summary is considered as the pillar of your business plan, since it determines the overall strength of your company.

Company Description of your business plan

Your company description highlights the different aspects of your business. This section goes into greater detail about your business and helps to enlighten potential investors about the intricacies of your company. The company description features the nature of the business; the benefits of products and services to be provided; the market (consumers, organizations, or businesses) that are being served or will be served; and the competitive advantage your company has over others in terms of location, expertise, or value.

Market Analysis

The market analysis provides an evaluation of your industry and market based on extensive research in that particular field. Your market analysis covers the current size, historic growth rate, and trends of your industry. It also specifies your target market; its needs; and the demographics of that market. With this information you’ll be able to determine the potential gain of your market share, as well as the pricing and gross targets with which you should work.

Company Strategy

The company strategy can be broken down into four strategies. These include a market penetration strategy; a growth strategy; the channels of distribution strategy; and a communication strategy. A market penetration strategy is where the price of your product is set low to increase its demand and market share. A growth strategy may focus on providing the same product to a different target market, or buying another business. The channels of distribution strategy may include distributors, retailers, or original equipment manufacturers. A communication strategy focuses on the methods that you’ll be using to reach your customers. Such methods may include public relations, promotions, or advertising. Once you’ve developed your marketing strategy, you can move ahead with your sales strategy. The sales strategy comprises of a sales force strategy and sales activities. A sales force strategy deals with the type of sales force you intend to use; the number of salespersons you intend to recruit; the recruitment methods you intend to implement; and the training and compensation you’ll provide to your sales force. The sales activities provides information on your sales performance based on factors such as the number of potential customers and the number of sales calls required to make a sale.

Products/Services

The products/services section outlines the benefits that such products/services will provide to your customers. These benefits may be described on the basis of how these products/services meet customers’ needs and how they stand out above their competition. The product’s life cycle, intellectual property, and research and development activities also appear in this section.

Financial Business Plan

The financial plan provides an overview of your company’s financial history. Owners of established companies should include historical information on their company’s financial performance, while those with start up businesses should provide their company’s financial projections.

Appendix

The appendix in your business plan consists of items such as your company’s credit history; licenses, permits or patents; letters of references; and management resumes. This section should be excluded from the other six sections, since it contains sensitive information. Such information in your business plan should only be shared with those who play a key role in making lending decisions.

We’re all looking to drum up a little extra business with a little free marketing on social media right?

In fact, nowadays, everyone is at it and there are very few businesses that can afford not to have a social media marketing strategy!

The sheer number of people using Facebook, Twitter, Google+ etc doesn’t mean social media is an easy, free way in to advertise goods and services for sale. Many businesses are smashing it on social media platforms but there are still businesses that are struggling to get interaction of any kind whatsoever and have yet to make a return on their efforts.

Keeping social media marketing simple is key to any engaging campaign for your business, and while learning, setting up and deploying, it’s often the simplest of rules that get forgotten.

So how do you…

• Promote without promoting?
• Sell without selling?
• Advertise without spamming?
• Comment without irritating?

Read The 6 Golden Rules Of Social Media Marketing For Business and take your next campaign straight to the top.

Rule 1. Be Patient

Once you have set up your accounts on different social media, don’t be too excited and overwhelm people with tons of information about your product or service all at once. It’s much better to ease your way into building strong relationships with your audience.

Initially, you won’t see a huge response, so I always advise new business owners to invite friends and family to like or follow and engage, just to get some interaction going.

Be polite, and interact with customers when prompted. Make sure you give them only the most valuable information about your product or service. A simple way of promoting without the hard-sell is to write about features or benefits of your product or service, rather than the service itself.

Rule 2. Don’t Hard Sell

Don’t use hard-selling tactics as it shows you are desperate for sales, and will  eventually turn off your audience. It could also damage your reputation by showing a lack of interest in your customers.

Show a positive attitude towards your industry, share relevant and interesting news and updates and always ensure you put the customer first. No-one likes a self promoting, self indulgent speaker. Seek to become an authority in the consumer eye by becoming a valuable resource.

Rule 3. Interact With Your Customers

It is no use setting up an account on any of the social media platforms and then letting it linger there with no activity. You need to actively participate in activity on these platforms once you have established your business there. You need to interact with your customers, listen to their point of view and discuss problems and solutions with them.

Ask questions. Make sure you thank regularly, RT their interesting content and share anything you feel relevant to your business, including other clients reviews and comments.

Rule 4. Listen To Others

Listen to what others say about your product. Check regularly for reviews and respond swiftly. A good way to keep track is to set up a feed in Google alerts for your company name, and be prepared to act quickly when a review or comment is left, positive or negative. Be positive and open-minded when responding.

Don’t be bothered by criticism – take it as an opportunity to improve your product or service and increase customer loyalty by demonstrating your willingness to adapt to your audience. Focus on constantly improving your product for the benefit of your customers.

Rule 5. Test Different Social Media Platforms

Having a presence on all of the social media platforms will obviously do your business some good, but how do you know its the right social media platform? Try different platforms and measure the results for your business.

You need to remember that different platforms attract different audiences and hence your focus should be on targeting the platform that suits your business. What works for one business may not necessarily work for another. Make a plan for different social platforms and then execute it effectively. Test results and ditch under performing platforms. Your time is best spent focusing on where your customer is at.

Rule 6. Provide Regular, Relevant Content

Finally, the content you provide must be relevant to your product, and you must post on a regular basis. Whether it is a status update, a tweet, a video or a blog post it must all be relevant to your product.

This is extremely important because people are there because they are interested in your company and what you can offer them. They also want to know there will be something new for them next time they visit your profile or feed. You will lose your audience over time if you let your updates go stale. Share your point of view on recent, relevant news stories, industry news and solutions for your audience.

And Finally…

No-one really wants to hear about what you had for breakfast… honest!

Simple as they are, these 6 Golden Rules For Social Media Marketing are often forgotten when you’re caught up in the throws of starting and marketing your business. Remember them, follow them and let me know your results. Share them with us below.

Do you have a small business marketing budget but want to create a big impact campaign? This checklist for business marketing ideas will help you minimize your advertising spend for maximum impact.

Not sure where to place your ad-spend? You’re not alone. Many new business start ups spend a colossal amount of their budget on marketing and advertising, and sit back after the spend with very few new leads or clients after a low performing campaign.

Years ago, I could put a small ad in the local freebie newspaper or sign up for a local directory listing (printed) and the customers would flood through the door. Businesses back then that were making an effort and budgeting for advertising spend reaped the rewards.

Fast forward to today’s economy structure and our digital age of information and content marketing, and we’re in a completely different race.

This #1 Tip Will Save You And Your Business Thousands!

Tip #1   DO YOUR RESEARCH FIRST!

If you’re looking to start an adverting campaign for your small business, then use the following marketing research checklist to find out exactly where your target marketing is looking. Then decide where your budget is best placed.

1. Research Demographics

– use Quantcast and Alexa to build a profile of your website visitor or check competitors visitors to get an idea of your target market.

2. Research Your Established Competitors Efforts.

Look at a similar business to your own, and work out what media platforms they are using and how. Tried and tested is always a great way to start when testing campaigns. Make sure you check it’s their regular spend. Don’t invest in their tests!

3. Find out what your buyers are searching for

Use Google Keyword Tool and research ‘buyer’ keywords. Put yourself in your customers shoes and try to think of what they would be looking for. Use the keyword tools suggestions for more ideas.

4. Get A Quote, never sign up straight away.

Often advertising companies will come back to you with a counter offer. This is particularly efficient for printed media – newspapers and magazines often have last minute space available just before the print deadline, so hold out until then to receive rock bottom prices.

5. Use Social Media!

If you’re like many small business owners and are reluctantly being dragged kicking and screaming into social media, then do it for your customers. They’re all there waiting for you. Guaranteed 🙂 The infographic below proves it.

6. Email Marketing

Promise yourself you will make an effort to build your targeted list of subscribers for your business. Collect your existing customers details. Start a regular newsletter, or just keep email addresses on file to help you promote special offers or new products or services. Want to try it for free? Mailchimp have their ‘Forever Free’ plan where you can send 12,000 emails per month to 2,000 subscribers.

Done your homework? Great! Now check out this ideas for small business marketing infographic to plan your moves!

Ideas For Small Business Infographic

Via: Bolt Insurance

Launching a business in today’s economy is challenging. With everything costing more, our savings not making an interest, and our income drastically reduced, it might seem like an impossible dream. But for many entrepreneurs, now is exactly the time to start a business. Whether your product or service saves time, money, or just brightens up peoples’ lives; some business start ups are actually thriving.
It doesn’t need to cost the Earth either. The Internet is littered with loads of great – and free – resources for start-ups of all kinds. Here we look at 7 of the best places you can get extra information, plan your expenses, and much more:

1. Business Planning Templates

Before you get started, you need a comprehensive business plan. But with little business know-how, writing an accurate plan can be challenging. These free templates (http://office.microsoft.com/en-us/templates/CT010357400.aspx?tl=2#ai:TC001017512|) from Microsoft Office can be downloaded onto your office or home computer.
These will make it quick and easy to plan your finances, and make sure you don’t miss a thing. Having an accurate business plan is essential when applying for funding, or approaching partners. This can also help you launch your start-up, knowing exactly what you need and how when you need it by.

2. Start Up Cost Calculator

Launching a business involves a certain level of financial commitment, and you’ll have to take into account costs you have never even considered. Even those with little financial prowess can estimate exactly how much they need, with an online cost calculator (http://www.startups.co.uk/start-up-costs-calculator.html).
While you’ll never be able to factor in any unforeseen circumstances, extra expenses, or loss of time; you can have a rough idea of your initial costs. Your business plan will help you work out everything you need to calculate the costs for. Together, these resources can help you secure the appropriate amount of funding for your start-up.

3. Smarta

Smarta (http://www.smarta.com/) is tone of the best sites on the net, jam-packed with advice and guidance for start-ups. The likes of Richard Branson and Dragons Den star Theo Paphitis have lent their pearls of wisdom to the site, so you know it’s good.
The site is full of marketing, finance, legal, and planning advice. If you’re in the early stages of starting your own business, their resources are great to help you get off the ground and thrive. Once you’ve launched, the site continues to offer great support.

4. NameChk

Imagine your stress and surprise to find that, after investing in printed work wear, business cards, and a logo, another company is already using the name you had chosen for your business? Or your dismay to find that the clever website URL you had concocted is already taken by someone else?
NameChk (http://namechk.com/) checks hundreds of websites to see if your chosen URL, username, or social media handle is taken. This makes it easy for you to reserve your place on these websites, even if your company isn’t ready to launch just yet. There are other similar domain checkers on the Internet, but this is one of the most comprehensive.

5. The Startup Lawyer

Before launching your own business, it is important to take sound, legal advice. The Startup Lawyer (http://startuplawyer.com/) is a great blog, containing a whole host of legal advice to make your life easier. It clears up some of the jargon you may encounter, and can help you make smart and informed decisions.
This advice however, is not specific to your company so should always be viewed as such. If you really can’t get your head around all the things thrown at you, make sure you consult a professional. They will be in a position to impart specific advice to your unique needs.

6. LinkedIn

Social media is a great way to build connections with fellow businesses and your clients. LinkedIn (http://www.linkedin.com/) is a great way to build relationships with other entrepreneurs, and make connections with industry authorities. Whether you’re looking for advice, guidance, or just to network LinkedIn is for you.
You should create a personal and a business account, as well as making the most of the groups and forums. Fellow start-ups are bound to be looking for the same answers as you, so make sure you join in the conversations and make yourself seen.

7. Dropbox

Dropbox (www.dropbox.com) is a file-sharing service that allows you, and everyone else in your business, to access things on the go. Photos, documents, videos and other files can be accessed quickly and easily from computers and mobile devices.
This is not only a quick and easy way to share files, it’s safe and secure too. You don’t have to worry about files getting lost on hard drives or USBs, as Dropbox looks after everything for you. You’ll be able to use this service on your Windows, Mac, iPhone, Blackberry, and Android.

Launching your own business takes time, money, and dedication. But it can run a lot smoother with the aid of the World Wide Web. There’s a whole host of free resources online, as well as information about other resources offline. Do your research, find out what works for you, and launch your start-up into huge success.

Outcomesuk.com is one of the UK’s leading executive search and selection recruiters. Visit their website to see how they can find you the right staff for your business.

Are You Wasting Money marketing Your Business?

I’m guessing the answer is probably yes. I went into a company last month and they were spending £2,000 per month on marketing and promotional material and they were asking me where it was going wrong, as they were getting little or no new business as a result.

I took a look at their newspaper ad, their flyers and their Online marketing efforts and noticed a HUGE problem. I saw it instantly.

Quite simply, there was no call to action!

BIG MISTAKE. But also very common. Business owners get so wrapped up in their brand, so focused on telling everyone how great their company is and how wonderful their services are and often forget the golden egg of marketing – THE CALL TO ACTION

No matter what media you are using to promote your company or your brand, you need to ensure that you have a clear, easy to understand call to action. Your advertising needs to seek a response from your audience – consumers are now blind to shameless self promotion and brand bashing.

Here are 10 Killer examples of a Call To Action that you can swipe and tailor to your own business needs.

Or perhaps they will inspire you to create new ones!

Remember, testing is key, and results will differ depending on your target market  and your industry or niche. Enjoy!!!

1. Call For a Free Estimate / Quote, etc.  – ideal for generating new inquiries.  Tell them what they will get when they call.
2. Pop In For A Free Consultation / sample, etc. – Free information and shows you’re friendly and approachable. Great for getting foot traffic.
3. Watch Video! – put it on a button great for sharing and tell the reader exactly what they get for their click.
4. Try It For Free – often generates a higher click through / inquiry rate than Sign Up Free or Get It Free.
5. Limited Availability – yes, you’re probably sick of seeing it everywhere, but it converts!
6. Reply Today – go on, replace the good old contact button!
7. Reserve Your Seat / Free Place / Ticket, etc. – the word reserve invokes a sense of limited availability without actually saying it.
8. Find Out How  – great when used after a compelling statement, can be used in so many different ways.
9. Get Your Copy Here / now / today – the word ‘your’ seems so much more sincere and speaks to the individual rather than the general public.
10. Click Here / Buy Now – yes, I know there are two here, but both are tried and tested to convert 🙂

See what I mean? You can transform your ad copy overnight by pre-selling your product or service and requesting a simple response!

Remember these 4 tips when you are developing your own call to action.

1. Request a clear, concise action from the audience
2. Make it a simple design – a button, an alert box etc
3. Try to create a sense of urgency or exclusivity
4. Answer the question your consumer is asking- ‘What do I do now?’
   

And there you have it! Give your marketing a little magic, sit back and enjoy the results!

Do You Have Any Favourite Calls To Action?

The 40 Minute Business Blog

“Blogs Will Change Your Business. Look past the yakkers, hobbyists, and political mobs. Your customers and rivals are figuring blogs out. Our advice: Catch up…or catch you later” Bloomberg BusinessWeek

Building a Business Blog is today’s essential way of communicating with your customers. Over the past few months, I have been helping small business owners get their business blog up and running and have been surprised to see that many web design companies are quoting hundreds of pounds to add a blog to their existing website, and even more to maintain it! The good news is, there is no need to pay hundreds for a blog to be installed. WordPress is a free, easy to use and / or install platform from which to launch your business blog.

See the Infographic below this post for your 40 minute guide to building a business blog.

What A Business Blog Will Do For You…

• Build Consumer awareness
• Brand Loyalty
• Increase consumer engagement
• Attract more visitors to your site
• Allow your Company voice to be heard
• Keep customers informed
• Allows shareable content to be produced regularly
• Increase search engine visibility

What Topics To Cover On Your Business Blog

• A list of helpful pointers
• Visual posts – great use of imagery and diagrams
• A reader survey
• Ask for product opinions
• Interviews – related industry experts
• The ‘how to’ post
• Your latest promotions

Notes:

WordPress offer free blog hosting on their platform WordPress.com

If you already have your own hosting and domain name, you can go to WordPress.org and download the files needed to install. I suggest you installit on: http://www.yourdomain.com/blog

Read this low down, and then use the infographic to guide you through installling WordPress and setting up your business blog on your site.