Any small business owner will tell you that success lies in getting customers to settle their bills on time, and it can be infuriating when this doesn’t happen. Sending out constant reminders is time and resource consuming, and the longer… Continue Reading →
The Data Protection Act 2018 enshrines in law new General Data Protection Regulations (GDPR), giving protection to EU residents on how companies and sole traders manage the collection, process and use of their personal and sensitive data. The regulations apply… Continue Reading →
Starting a new business at any time is a risk but with the current crisis once again stalling the economy, every startup needs to have a strong marketing strategy. What online tools should be considered? Marketing is about sales and… Continue Reading →
This is a worrying and confusing time for small businesses up and down the country with business owners perhaps not clear on where they stand with obligations to employees or whether help is available to access. Hopefully, our guide will… Continue Reading →
Video is a fantastically effective tool in marketing but only if it’s done right. Advances in video editing technology available to everyone with a smartphone has lead to an explosion of videos in every sphere you can think of and… Continue Reading →
When just starting up your business, it is not uncommon for mistakes to be made, especially if this is your first company. After all, you are on somewhat of a learning adventure. If you make a mistake, you simply need to acknowledge where you have gone wrong and do your best to rectify the problem. Nevertheless, there are some common start-up errors that can cause huge problems for your business. These are the types of problems that you really need to try and avoid altogether. With that being said, read on to discover some of the common start-up errors that could kill your business.
Selecting an unsuitable investor
You may discover a decrease in your cash reserves once your business begins to gain some traction. When in growth mode, you may need to apply for a loan or raise outside capital. There is one important rule to keep in mind, and this is the fact that not all cash is equal. There are a whole range of different types of loans available and other ways to raise funds and all have advantages and disadvantages so scrutinise all potential deals to make sure they are 100 per cent suitable for your situation.
Choosing the wrong premises
For some businesses it is essential to have a certain type of premises in the right location. For instance a high-end retail outlet is unlikely to be successful on an industrial estate, similarly the clients of a high value services company would expect to be able to visit suitable upmarket offices. But many businesses do not require these sorts of expensive premises and could save money by using self-storage units instead of expensive warehouses or be based in a business hub rather than committing to a long term rental of dedicated office space. There will be plenty of time for smart locations once your business is a success so don’t waste money now where you don’t need to.
Nowadays, the success of any business is largely dependant on their marketing campaign. After all, you can have the best product on the market or the best service in your sector, but if no one knows about it, you are not going to get very far. The trouble is that there are so many marketing options to choose from, a lot of which are expensive, and no one wants to spend their money on something if the results aren’t guaranteed. Keeping that in mind, below we have put together some top tips and marketing suggestions for SMEs.
It is always a good idea to team up with other companies that are related to the services you provide, however, are not a direct competitor. You can then discuss and share experiences of sales training courses for your sales team for example. Or you can embark on joint projects together, from promotional giveaways to special events. This means twice as much notice, as you are going to be introduced to all of the other company’s customers, which are no doubt going to be interested in what you have to provide.
The cost of data security breaches in the UK has doubled, causing the government to urge businesses to take action. Nowadays, the average cost of the most serious online breaches is almost one and a half million pounds. When you… Continue Reading →
Project management errors can result in lost money, time, and trust. Errors can pull you further away from attaining your goals, and, unfortunately, mistakes are not uncommon when it comes to project management. After all, project management skills are not… Continue Reading →
The importance of communication when it comes to project management cannot be emphasised enough. If you do not know how to communicate effectively, it is impossible for targets to be reached. This is especially the case when you consider the… Continue Reading →
No matter if you work in a successful technical SEO company or an international corporation, project management is going to be one of the key components to success. While a lot of businesses recognise this, they do not invest in… Continue Reading →