Small Business Energy Saving

There are so many ways that so called experts think you can use to save money, and in the typical workplace you can save up to 20 per cent. If you want to save money and energy as a business then you need to keep reading.

1. Give your workplace a lighting makeover. 
Did you know that one continuously illuminated light bulb can waste up to £50 annually? Give your office, factory or studio a lighting makeover by taking some simple measures to save energy. The first step is always to switch your old bulbs to compact fluorescent ones; these bulbs use significantly less energy than their incandescent predecessors and work just as well. Next, install motion sensored lights so that you and your staff never have to worry about accidentally leaving on the lights at the end of the day.

Is Your Business Visible?

What are some clever and inexpensive ways to make you company more visible to possible consumers? In the process of getting more exposure for any company it is mandatory that you branch out as wide and fast as you can in order to allow as many viewers as possible to see your company. Here are four clever ideas on how to make you business more visible in your community.

First, you want to be sure that you are in the local business directory and Yellow pages. This is important because it will allow people that are specifically looking for your product or service to be able to find your business. Some of the local business directories are very easy to add your business to although others may cost a little money and time. Whether you have to pay or whether it is free it is necessary for a business to be represented in its local business directories and yellow pages to broaden the visibility of the business to more than just the current customers.

Interested In Starting a New Business? Here Are Some Tips..

If you are looking for a change of direction in your life and considering starting a new business, here are some factors that you may care to consider.

· Being your own boss is a dream that many people aspire to. Not being answerable to anybody other than yourself when it comes to how much you earn and how many days leave you can have is usually extremely appealing to most people, just as it was, and still is, for me. However there are certainly many factors to consider and it is advisable that you give yourself sufficient time to think through your ideas.
· It is important that a new business owner truly believes that he or she is on the right path and that the business will bring, among other things, prosperity and pleasure into their life.

· There are serious considerations to deal with when starting a business as your business is going to be the predominant influence in your life from now on. It will give you pride and satisfaction and along with those attributes your business will bring you hard work and more than likely, some concerns. But, isn't that what life is about; if everything were to go along smoothly for 365 days of the year one would more than likely become bored and look for greener pastures. So if you are ready to take on the challenge, I offer you my congratulations along with some tips to help you get started.

The Right Way To Bring In Revenue

I was at my mastermind retreat in California. Being that I live in New Jersey I found myself very awake and productive at 5:00 in the morning and went to the gym at 5:45.

After my workout, I was standing by the water cooler and looked out the window. There was a beautiful sunrise. One of the hotel attendants was next to me and I said, "Look at the beautiful sunrise." She was courteous to me, but yet I could see in her eyes that she assumed that I wanted something from her or was complaining about something. I said, "Everything is okay, I just don't want you to miss the good stuff."

So often in our day-to-day lives we end up focused on the things that are not going well, on what we still have to do or more often, what we think we'll never get around to doing. We spend our day beating ourselves up instead of paying attention to what is going right.

To Be, Or Not To Be A Limited Company? That Is The Question

As of April 1st 2011, the rate of tax levied on Limited Companies (corporation tax) is the same as the basic rate of income tax - 20%.

National Insurance Contributions were increased, and the increases, mainly in Class 4 National Insurance, should prompt sole traders to review their business structures and look into how they can reduce the amount of tax that they pay.

Are You A Sole Trader? A lot of businesses start out as a Sole Trader; mainly because starting a business is hard enough, without the added paperwork forming a limited company entails.
Deciding which business structure to take in a difficult decision to make, as a 'one size fits all' scenario doesn't exist in the world of business.

Countless Ways To Earn Money Online For Free

Today a large number people are now looking for ways to earn money online for free, mostly due to high unemployment rates and the state of the economy. Most of them are now turning to the Internet to search for ways to earn money online for free. There are numerous opportunities available to you to make money online, and it's just that you have to search for them on the Internet.

We are discussing some ways to earn money online for free:

1. Article Writing
This is one of the best ways to earn money for all those who have excellent control over their verbs. You can write interesting articles, blog posts and press releases and make money. There are many sites such as Freelance, Elance, odesk.com and guru.com that offer you consistent work.

My Dream Work

Recently, I had cause to really think about what my "ideal" job would be. This was no easy task. The problem being that I have a huge range of interests. For years I wanted to be an astronomer. Then for a while I wanted to be a geologist. Archaeology sounded very interesting! However, I also like working with numbers, and keeping figures in order. That makes doing a home budget into a pleasant evening pastime! On top of all that, I enjoy designing web pages and creating graphics. Coming from an artistic family, I like to dabble with drawing once in a while, to say nothing of writing stories.

The fact is, though, that I ended up working a typical eight-hour day in an office in general administration in the construction industry. It's not that the position is so bad; in fact, it has its own benefits. The big drawback is that it takes quite a chunk out of my day, leaving only a few daylight hours to try to do any of those other activities. And that doesn't count my bird-keeping hobby, or my garden, or playing badminton or squash, and, of course - and this is by no means the least - my family.
I think I need more hours in a day.

Since I can't make the days any longer, I am carefully considering my options. Clearly, it is a physical impossibility to do all of the above, at least, all at once. I could allot a few years to each. Perhaps by the time I have become a competent astronomer, there will be spaceships to take me out to the newest travelling telescope. Perhaps, by then, scientists will also have found a way to make us stay younger and fitter for longer.

How Can You Start Your Own Business?

With the current economic climate, unemployment at an all time high and no signs of major improvement in the near future, it's no wonder that 50% of people in the UK want to start their own business. However only 5.8% actually do! This I think is due to the fact that people simply do not TAKE ACTION! Many people have great ambition and ideas of what they would like to be doing with their life and how they want to live but unless you act on this and take action to achieve it you will never move forward and make that change.

What is stopping you from starting your own business?

If you've made that conscious decision that you want to work for yourself and start you own business then I imagine, that you've started to look around at your options. When I was in that position I looked around at many courses to learn something new that I could then implement into setting up a small business working for myself. I soon realised that these courses would cost me several thousands of pounds and take 2-4 years to complete and that is without any real experience within that field or trade. Not to mention the costs in then setting up a business, buying equipment, vehicles, advertising and all this without knowing that it would even become successful or profitable.

Managing Business Debt - 6 Tips to Keep Your Business In The Black

There has been a great financial shake-up of sorts that has taken shape over the past 5 years, around the world. Those who were only concerned with growing their businesses suddenly started becoming aware of debts incurred along the way and found themselves wondering how to curb them, and there are tried and true manners or practices that assist in the process of reducing the amount of debt held by a company.

Business debt is for the most part something that all businesses have, as companies and proprietors are generally not cash-rich and therefore need to borrow in order for the business to grow. The problems begin when the amount of debt continues to build and becomes excessive.

At this point, there is a good possibility that the company is either losing profit or on the verge of becoming non profitable and the owner needs to begin to make some major decisions on how to tackle the situation.

Here are six basic business practices that are widely known that a company can do at this point:

Business Concept

It is crucial that your business plan states your business concept and value proposition. Since this part of the business plan follows the executive summary and company history, readers already should have a general idea of your company. The business concept, however, comprises your vision of the company, explaining the value your product or service will bring to the customer, why you are especially qualified to offer it, as well describing your offering's uniqueness and growth potential.

This in turn enables you, as well as interested parties and potential investors to research and analyze the concept for feasibility, both from a market and financial perspective. 

The Feasibility Test

 

Think of a feasibility test as a reality check for your big idea. According to Entrepreneurship For Dummies by Kathleen Allen, a feasibility test weighs the validity of your business concept by examining four points: The product your firm will offer The customer you will target Your value proposition How you will get the product to its intended usersBy this stage you should have a firm grasp on what product or service you intend to offer, as well as who you believe will be your primary customer. The final item requires weighing various distribution channels, but, again, should be answerable with a little leg work. 

Are You Entrepreneur Material?

Despite the difficult economy -- and in many ways because of it -- entrepreneurship in America is alive and well. Take a look around you, on Main Street and on the Web. Even when unemployment is high and consumer confidence is low, there are new businesses opening as fast as others are closing. Many of them are being launched by people who lost their jobs and either didn't want to, or could not, find another.

If you're thinking of taking the entrepreneurial plunge, it's important to know to what it takes to be successful before you make what could be the biggest financial and emotional commitment of your life. Here are five ways to know if entrepreneurship may be right for you.

Are You Running Away from a Problem or Running Toward a Vision?

Some people feel they have no choice but to start a business when all they really want is to find a good job. A few of these so-called "forced entrepreneurs" may come up with the next big thing, but many don't have the heart to be in a business for the long run. So do some soul-searching and figure out if you're running toward a defining vision of your future as a business owner, or away from a problem. And if all you really want is a great job, you can learn how to find one much more easily than you can find success as an entrepreneur.

Before You Apply for a Loan

A bank or government agency (such as the U.S. Small Business Administration) are two common sources of funding for your startup venture. If you go that route, here’s a checklist of the things you’ll need to do and think about to prepare for the application process. 

Develop a Business Plan and Financial Statements 

The lender is going to want to make sure you have a credible business proposal, and that you understand the products you’re offering and the market in which you’re operating. A typical business plan includes an executive summary, a clear description of what the business intends to do, forecasts of revenue and expenses, an analysis of the market and the competition, and strategies for growth and possible exit. Use the business plan to demonstrate your understanding of the industry and your particular expertise. You’ll also want to provide the lender with cash flow projections to indicate there will be a steady flow of cash to help repay the loan. 

What Would Jobs Do?

Apple CEO Steve Jobs is hands-down one of the greatest entrepreneurs of all time, so any sensible entrepreneur should spend some time studying his. Carmine Gallo, a communications coach and author, has written a book about Jobs that extracts key lessons on entrepreneurship and innovation. In The Innovation Secrets of Steve Jobs, Gallo lays out what he believes are the seven core principles of Jobs's core business philosophy and how others can adapt it.

1. Do what you love. 
Following your passion might sound like a soft skill, but Steve Jobs has said it's responsible for much of his success. Jobs was once asked point-blank what advice he would give a young entrepreneur looking for career advice. His response: "Go out and a get a job as a busboy or something until you find something you're really passionate about." Entrepreneurship is hard and takes perseverance. You will not have the energy to jump the inevitable hurdles unless you find that something that you are truly obsessed with.

Alternative Financing

Small business owners have become well aware that the days of walking into a commercial bank for an easy loan are long gone. And we may all grow very old before Congress approve's President Obama's plan to expand SBA loans and infuse capital into community banks. This doesn't mean that everyone is folding up their tents. On the contrary, small businesses are getting very creative about financing and are leveraging the many alternative sources available to them. 

For example, some firms are turning to purchase-order financing, in which a middle-man finance company pays a factory to manufacture goods for a small business. Once the purchase order financier is paid, it takes a commission and delivers the goods to the small business. Then there is peer-to-peer lending, in which individuals lend to each other through exchanges. 

Boost Your Advertising ROI

If you think that, because your business is small, you can advertise without having a defined marketing strategy, Ed Yeaker disagrees with you.

"In the acting business, there are no small parts, only small actors, and there is no small advertising plan, either," says Yeaker, president of Ed Yeaker Associates, Inc. Advertising and Marketing Services in White Plains, N.Y."No matter the size of the business, ad budget or extent of activity, the advertising investment is always huge."

Yeaker, a former adjunct marketing instructor at Pace University, offers five tips for small businesses that want to get more ka-ching out of their advertising.

1. Have a Clear Marketing Direction -- and Stick to It. 

"Advertising helter skelter just because of aggressive media sales reps, friends' suggestions, status and emotional appeals usually has little or no value, or even hurts the business," Yeaker says. "Every business, no matter the size, needs a planned approach to marketing-directed advertising that supports the company's goals and allows it to prosper." The key elements of a solid plan should include: 

Business Survival Strategy

A strong business is one that can ride out the tough times. Your business plan should be able to account for a soft economy or an industry slump and should have the built-in flexibility you’ll need in order to react quickly and nimbly in the face of change.

Take these business survival measures to insulate your company in the event of an unexpected downturn. 

Maximize Your Cash Holdings

 

Remember that cash is king, and with it you can pay your suppliers and the bank. A quick way to boost your cash reserves is to sell off surplus inventory and then cut back your inventory orders until the situation improves. You can also push to improve your accounts receivables collection. 

Planning Your Exit Strategy

The final portion of your business plan outlines your exit strategy. It may seem odd to develop a strategy this soon to leave your business, but potential investors will want to know your long-term plans. Your exit plans need to be clear in your own mind because they will dictate how you operate the company. For example, if you plan to get listed on the stock market, you’ll want to follow certain accounting regulations from day one. If you plan to pass the business to your children, you’ll need to start training them at a certain point.

Here’s a look at some of the available strategies for entrepreneurs:

Exit Strategies for Long-Term Involvement Let it run dry

This can work especially well in small businesses like sole proprietorships. In the years before you plan to exit, increase your personal salary and pay yourself bonuses. Make sure you are on track to settle any remaining debt, and then you can simply close the doors and liquidate any remaining assets. With the larger income, naturally, comes a larger tax liability.  

5 Biggest Mistakes Business Owners Make

Financial security expert Pamela Yellen, author of Bank On Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future, believes that business owners are prone to making financial mistakes that undermine their efforts to build wealth. Here are the top five mistakes she sees and strategies on how to avoid them.

Deferring your taxes

Business owners love the idea of deferring taxes. That's a big part of the appeal of tax-deferred retirement plans, such as 401(k)'s. But what direction do you think tax rates will be going over the long term? If, like many people, you believe taxes are going up, consider that if you're successful in growing your nest-egg, you'll only end up paying higher taxes on a bigger number. Even if tax rates stay the same, I estimate that by deferring your taxes, you'll ultimately pay 10 to 20 times more in taxes over a 30-year period. Consider paying your taxes up front - at least you know what they are.

Tips for Freelancers

Barbara Kerbel, who runs a corporate communications business based in Great Neck, N,Y., has been a solopreneur for more than a decade. She started her business after a successful career as a vice president of corporate communications for a publicly-held company, a columnist for Newsday, and a weekly newspaper journalist. In this installment of our interview with Barbara, she address pricing, how to define business terms and how to get projects started properly.

How do you come up with fees as a freelancer?

It is pretty much up to you to determine whether you want to charge by the project or prefer an hourly fee. Project fees can be dangerous because sometimes a piece of work is touched by so many hands and changed over multiple drafts before it even gets to the decision maker, who then start additional rounds of changes that often lead back to copy that is closer to what you originally handed in. 

Trademarks 101

What is a trademark?

 

Simply put, it's a brand name. More formally, it's "a word, phrase, symbol or design, or a combination of words, phrases, symbols or designs, that identifies and distinguishes the source of the goods of one party from those of others." (USPTO) A service mark identifies a service rather than a product. 

Trademark protection only applies to a particular category of goods or services, although a single trademark owner may use it in multiple categories. For example, Nike Inc. owns the mark on a variety of shoes, clothing, sporting goods, etc., but Sweden's Nike Corporation could not prevent their use of the name because Nike Corporation's trademark was for heavy machinery, including hydraulic lifting jacks, pistons and presses.