Develop a Business Properly: October 2018

Why Are Online Businesses Booming

Without doubt the internet has changed the way that we live our lives. This has been particularly apparent with recent sales figures for many retailers including Next showing a slump in high street shop sales and a growth within online shopping sales proving that the internet is now the preferred method of shopping for many of us. Sadly this has resulted in the closure of many high street stores, especially electrical retailers, as they battle stiff competition from online retailers.

During the past ten years the growth of the internet has resulted in many individual success stories and has also strengthened sales for many established businesses as they also use websites to generate extra revenue. Experts predict that by 2020 90% of transactions will take place online or will be influenced by the internet.

With this in mind there has never been a better time to start an internet online business. Statistics show that the demand and audience is huge so what better way to capitalise on this demand than by starting an online business.

Internet businesses involve less risk, cost and effort and most can be started straight away. To create a successful home online business you will need to take the following into consideration:

Look For A Product That Doesn't Have A Market Leader

If you want to become a successful entrepreneur you will need to find a niche that is quite unique without massive competition. One such example was a lady who found a gap in the market for providing baby products and accessories in your own home. She thought of the idea after having a baby of her own. She has now formed a very successful business providing this service.

Having a passion for what you are selling is also crucial to your success. This was the case for twelve year old Louis Barnett who created a successful confectionary company selling chocolates to top retailers. He left school with severe dyslexia and dyspraxia but his desire to be able to spell the word chocolate inspired him to set up his own company selling chocolate. He scored the highest score ever for his pitch with one retailer which even at twelve years old was full of passion fuelled by his belief in his product.

Write Up A Good Business Plan To Get Funding For Your Business

Presenting a good business plan will help you to get the necessary funds to start your on line business. Make sure that you ask for adequate funds at the beginning to ensure the success of your business. Asking for too little funds is a mistake often made but will only result in your business struggling in the short term.

If you anticipate that your sales will exceed the current threshold of £73k you will need to register your company for VAT.

On line traders also need to ensure that they comply with data protection legislation when storing information on customers.

Create A Good Website

With any internet business it is crucial to create a powerful website to attract customers to your business. Your website acts as a shop window for your business and will determine how successful your business will become.

Whilst it is cheaper to install your own website it is better, if financially possible, to outsource this task as this can be the difference between making sales or not.

You will need to ensure that your website is appealing as people will buy if they like what they see. Make sure that the website is easy to navigate especially on the ordering page as people will tend to leave if the sales process is too difficult.

Test your website with potential customers, friends and family before launching your website to make sure that it has the necessary appeal.

Marketing Your Business

For an online business, marketing is vital to its success. Effective marketing will ensure that people are drawn to your website over your competitors.

There are several ways in which you can market your online business. You can advertise organically by writing articles or blogs or you can pay for advertising using Google ad words or by paying for SEO. The type of advertising you choose will be largely governed by the type of online business that you have and by the budget that you have available.

Offline advertising such as direct mail can also be very effective in promoting your online business and increasing sales.

Don't Give Up Your Day Job

Don't make the mistake of giving up your day job too soon. Most online businesses only require you to work part time from home to begin with allowing you to work around your current employment and still enjoying the security of earning income while your business gets off the ground.

All in all your internet business will thrive provided that you offer people what they want to buy at a price that they can afford and that you make them aware that you have what they need.

What Can You Expect From the Business Consulting Process

Consulting firms are getting popular now. Top dollars are being paid to these firms to come up with business recommendations and suggestions to prop up and improve the business management styles and decision-making processes. The role of the business consulting firm varies depending on the real needs and requirements of the company. But there's one link that connects all these services and this link is common to all providers of these services- all these providers will get to know and understand the business.

Though there's market for this kind of business and a number of businesses that tap the services of the professionals, still there are some people and businesses that don't get the process and principle behind business consulting for best business practices. Getting confused with the services of a consulting firm is understandable but if you are in the business sector whether as a business owner or as a manager, it's best to be aware of what business consulting is and the typical process that gets into the picture. The common understanding is that a consulting firm will take a look at the business and from there recommendations are forwarded. Though this is true, still it should be kept in mind that there are four more major steps that come in between these two. Here's one look at consulting using a six-step process.

Step one is learning about the business. This is a given and a must for consulting. The consultant should have a good understanding of the business, from its operations to needs before recommendations can be drafted. Different consulting firms will have different approaches in doing this step. One approach is to take survey the business and interview key people in the organization. A survey will involve a tour of the office or plant to learn about the business. Interviews will be given as well to understand the products or services and to learn about management styles and the decision-making process.

Step two is to find the problems of the business. The problems that will be listed are not just the ones that are seen and observed by the business owners or employees rather the consultant will also find these problems from the consultant's perspective.

Step three is the identification of opportunities. The principle behind consulting is that for every identified problem, there's an opportunity waiting to be tapped. These opportunities should be discovered not just by the consultant but by the business owner as well.

Step four in business consulting is analysis. This step calls for the consulting company to analyze and study. This is the part where the problems and opportunities will be reviewed, and a listing will be made stating the problems and opportunities that will be prioritized. Future problems will be identified a well by the consultant. The analysis that can be provided by the consultant will also result to delivery of conclusions and these are all based on verifiable facts and figures.

Step five is the provision of solutions based on the problems and the facts provided. A good business consultant should offer a game plan to the business owner or managers that they can follow. The recommendations that can be made by the consultant will definitely help the company change the business management direction or improve on it.

Step six is the receipt of the feedback and adjusting the plan or strategies if necessary. Right after the submission of recommendations and conclusions to the business, the next step considered by many consultants is to let the business grow and see from a distance while the company makes use of the designed plan. By observation, the consultant should note some changes or issues that may have crop up along the way. This is also the time when the business owner or manager will also offer some feed back about the plan. Based on the feedback provided, the business consultant can do the necessary adjustment to improve or change the game plan.

Different consulting firms will have their own ways of undertaking the consulting business, but you can be sure that some of these steps will be reflected in their own approaches as well. At the end of the day, business consulting is about knowing the business and recommending solutions.

Dany Cooper

I live in a tiny village in Ontario Canada, thanks to the internet it has allowed me to work from home just like millions of others. This wonder tool of the 20th century the internet has given all of us the power to connect it does not matter were we are or where we live. It's an amazing device with a growth rate that increases daily, as more and more people discover what and how the internet can help them. Whether it's for business or pleasure it does the job that we ask it to do.

I have a successful online business, I enjoy learning and passing it on in my coaching. If you are looking for a online business I have one here that you can genuinely trust and you will make money. It has all the necessary components that it takes to make a successful home business.

What to Expect From a Business Consultant Offering Business Management Recommendations

It seems that almost everyone knows someone who is considered as a consultant. Just take the case of internet marketing and doing business online. If you check out some sites that offer these services and search engine optimization, you will find out a huge amount sites and personalities offering their services for a fee just to help others start-up their business. There's a consultant for almost everything- you can count on a consultant for SEO, for start-up tech businesses or for network marketing.

Some personalities and sites may have abused the term but still one cannot deny the services and the benefits of tapping the services of business consulting and the business consultants. Business consulting can help re-direct the direction of the business, help others start their own business or simply help you discover new best business approaches and strategies. If you are looking to start up your own business or just wanting to boost your business's stock, you too can get the services of the consultants that offer you ways to improve your business management skills and practices. The services are valuable but don't just sign up with one without knowing the basic services that can be offered by the pros. Here are some of the basic services that you can expect from business consultants.

Business consultants will get to know your business. This is an important step in consulting, and you can expect as well that the professionals will do the same to you and your business. The consultant will exhaust all means and tools to learn more about the business. Of course, they can't come up with sensible recommendations if they don't know a thing about the business. The consultant will take time to learn about you and the business. Since you are the business owner, then the consultant will take the opportunity to spend more time with you. Once the consultant has understood the business, then it's time that they can give recommendations for the business.

The consultant will also find problems and opportunities on the business. Once the consultant understood the business, then you can expect that they will come up with a SWAT analysis of the business. This means coming up with the problems and opportunities for the business. The identification of the problems and the opportunities will be a 2-prong approach. On one end, you can come up with your own listing of problems and opportunities for your business as you see it. The business consultant will also try to come up with its own listing of problems and opportunities from his own perspective. The consultant will bring a fresh take on the problems and opportunities of the business, and you can take advantage of this. Though you as the owner may know the business well owing to your years of experience in directing the business, still a fresh take on things will certainly help.

A business consulting company can also offer an analysis that can help tweak business management direction. After the observation and analysis, the next step for the professionals is to analyze all of these. The analysis will involve a check of the facts and figures, and from here conclusions and recommendations will be generated. The consultant will generally look at the business at the micro level yet will offer decisions and recommendations while taking a look at the business at the macro level. This is the common limitation of many business owners as they look at the business at a micro level every time. The consultant will attempt to change all that by incorporating a macro look at the business enterprise.

You can also expect that the consultant will interact and listen to your needs and wants. This is a necessary need so that the consultant can get a better picture of the business. It is imperative that the consultant will interact with the important members of the business and to listen to your complaints, needs and wants. The business plan is never considered complete if this is not done in consultation with the important members of the business or company.

There may be other services that can be expected from the consultants, but you can expect these listed above as examples of their services that can help promote best business practices.

Dany Cooper

The Best New Year's Resolution for a Small Business Owner

It is that time of year where everybody pledges to change their lives for the better. Almost everyone in the country waking up on New Year's Day will have promised that 2012 will finally be the year where they cut down on the bad foods and alcohol and get to the gym more. Unfortunately for most people their New Year Resolutions lie in ruin before the end of January! Why? Because New Year's Resolution's always have a habit of pledging huge change to normal everyday life which is unrealistic and unsustainable. These New Year Resolution's also take place in the world of business. There will be strategy meetings kicking off all over the country in the first week of the year promising all manner of different strategies to become 'market leading' or 'best in class'. But as with our personal resolutions too often these business strategies are too big and too bold to be sustainable with many failing to be truly realised by the end of the year.

As we head into 2012 the economic landscape is still very challenging and if there was any New Year's Resolution to be made by a small business owner it should be to achieve financial sustainability in 2012. This article is about how accounting software can help small businesses achieve this New Year's resolution and encourage small businesses to manage their finances to prosperity in 2012.

4 New Year's Resolutions for any small business owner in 2012.

1) Don't spend unnecessary time and effort on non-value adding activity

Do not waste time on things that are not going to generate additional profit for your small business. TIME = MONEY and in the current economic climate both items are extremely precious resources. As we approach the end of the financial year do not fall into the trap of taking time out of the business to pull end year reports together. Accounting software can provide a quick, easy and cost effective way of pulling end year reports together professionally without having to spend time out the business. The more time that is spent focussed on growing the greater the chance the business will achieve long term success.

2) Get closer to your company financials

There are many small business owners that are not close enough to the cash flow position of their business. Even if a small business owner is not comfortable looking through pages of financial balance sheets accounting software can enable a small business owner to quickly and easily view the key financial indicators of the business. Short term cash flow problems can have devastating effects on the long term success of an SME. The owners that are closer to the key financials of the business stand a better chance of being ultimately successful.

3) Track and manage income lines into the business

Making sure that all income lines into the business are well-managed is of utmost importance. Companies without meticulous collection processes are at risk of their invoices being paid late if at all. In order to ensure that the lifeblood into the business, revenue, comes in as planned accounting software can organise all invoices and clients making it clear and simple which invoices are due and who is left to pay. This way a small business always keeps the finger on the pulse when it comes to collecting income.

4) Have a tight grip on company expenditure

Every penny counts and making sure that all spends are accounted for is critical to ensuring that the biggest possible margins are realised by any small business. All structured company expenditure should be evaluated to ensure it can't be consolidated or eradicated entirely whilst supplier rates should always be assessed and managed in line with company profits and scale. Sometimes the most profitable companies are not the ones generating the biggest contracts but the ones with the most controlled expenditure.

Buying accounting software will not categorically guarantee business success but it will enable owners of SME's to get a lot closer to their business financials to help them make better decisions for their business. It will be the small business that methodically manage their finances that come out of this economic austerity stronger; therefore, whatever your business New Year's Resolution make sure you go into 2019 with the intention of making your business financially sustainable in these challenging times.

Steps on How to Develop a Business Properly

So you want to develop a business, huh? Well, you're just in luck. This article will help you whether you are planning to start up new or have an existing business that you would like to expand. This is a step by step guide on how to start, improve, and expand a business while minimizing loss on your part. If you are starting new, please read this article carefully from the very beginning. For those, who already have an existing business and would like to improve or expand, the latter part of the article will be more useful.

Every business starts with an idea. You will find that throughout the article, I have emphasized the mental aspects of people rather than physical or financial aspects. Call me philosophical, but the mind is where everything happens. I have seen and experienced it time and time. When your mind is fully committed, there is literally nothing that you cannot do. Let's begin.

Find Your Passion

To start a business, you need to find out what it is that you are truly passionate about. "Why is that important", you say? The answer is simple. You really do not want to get yourself stuck into a kind of work that you hate. There are plenty of planning and executing involved in a brand new business and if you are passionate about it, they would not feel like work at all compared to a kind of business you do not care for. After all, happiness is the end result of anything that we do in life. Why not choose a business that would make you happy while doing it?

"When your vacation becomes your vocation, you have succeeded in life".

How to Sell It

Now that you have found your passion, let us figure out how to use it to bill people who are in need of the kind of service you can provide. Even though yours is the most ridiculous passion ever, believe me, there are millions of people who would be glad to have your services. As a matter of fact the stranger and more unique your passion is, the more likely you are to succeed simply because that type of business doesn't exist yet. That also doesn't mean that if your passion is something common or usual, you shouldn't do it. Even if it is something common, if you really love it, you will always find ways to do things differently than the others and that itself is the winner.

Let's say that you are passionate about cars. You are more likely to succeed in an auto shop, auto parts shop, or a repair and modification shop. Sure, there are plenty of those out there, but if you love it, it is going to be one of a kind. Maybe your shop has a nice waiting area where your customers can have a seat and a free beverage when they come to drop off or pick up a car, or you may have free stickers complementary to having their breaks fixed. Once you're in the business, you'll figure that out.

The Planning

Write down your unique ideas and prepare a presentation. Take some time to do it. You should not rush this part. If a new idea comes while you are in the middle of the planning stage, do not hesitate to change. Edit and modify until you are fully satisfied and you can see a clear mental picture of your business. I cannot emphasize how important this is. You have to be absolutely clear and certain. If there are parts that are hazy, leave for a while, do something else, and come back to the planning table again when your mind is clear. You will see later how we will reuse this step over and over again.

A thing to remember here is that I am not talking about the "Hows". At this point, you're not thinking how you will start the business. That will come later. Your focus at this stage is the "Whats". If you start thinking about the "Hows", you will ruin your plan because you will start to think about things such as "How do I get the capital", "How am I going to find an ideal place" etc. The "Hows" will show up later when you are clear about the "Whats".

Visualize Your Success

Now that you have had the clear picture of your business, visualize how it would look and feel when it is fully operational and successful. You must be able to taste the success. This again is another important stage. Why-you ask? There will be obstacles on your way to success. This is the picture that will keep you going. It will also help keep your team motivated in the future should you need to inspire them in times of hardship. You, the leader, must have that picture of success handy at all times.

The Needs

You are clear about what your business will be and you have a clear picture of success. By now, you are mentally ready, so let's get physical. The physical needs of the business include 3 things: infrastructure, personnel, and finance.

Infrastructure: If your business is local such as an auto repair shop, you will need a space, an office, a storage area, and some furniture. If your business is virtual, you will need a website or other computer based applications. In any case, you have the clear picture (Step 03), so you can create a list of infrastructural needs.

Personnel: If it is a kind of business that you can do totally on your own, then you are it. If not, you are going to need assistance. Use Step 03, and find out how many people you will need and what their jobs and qualifications should be. You may also look among your friends, relatives and acquaintances that may have those qualifications and would be happy to help you in the beginning. Having a good friend or partner at this stage is very helpful. If you have a friend who shares almost the same vision as you, you have hit the jackpot. Things are a lot easier with a good friend beside.

Finance: This part is slightly uncomfortable for a lot of people. For this reason, a lot of great ideas never see the light of the day. Many would give up at this sector because they believe there is no money. If you feel that, please remember that the financial industry was built on great ideas. It is their purpose to invest. How else do you think the Empire State Building was built? One person didn't put all his money into it. The idea was great and was simply backed by several financial institutions. The truth is there are numerous banks, lending agencies, and investors who are looking for a great idea to invest in.

Alternative Internet Business Opportunities to Try Out

The web is full of opportunities for people wanting to do business and earn money from home. This is the reason thousands of people are flocking online to discover the thousands of opportunities online. The main reason for its popularity is the flexibility and the luxury of time as offered by top business opportunities. Can you really earn hundreds of dollars on a 10-hour a week schedule? Yes there are some entrepreneurs who earn under this kind of arrangement thanks to their well-chosen internet business but for those just starting with their online business keep in mind that this is far from the truth.

If you are just starting out, you will start your first few weeks with a heavy workload. Instead of loving the 10-hour work week, your calendar will be packed with a 40-50-hour per week schedule! This happens, and if you are really interested in tapping a business opportunity then you need to be ready for this. When you want to consider an online business opportunity, you also need to widen your outlook. Of course, the usual options for making money online include setting an e-commerce site where you can sell products or services or you can join an affiliate program to sell products and earn commission for every sale. These are classic opportunities online that you can try, but keep in mind that all these popular options are already packed with people. What you can do instead is to take a look at the alternative business opportunities that are still flourishing online. Listed below are some of these business opportunities that you can try.

You can start an online coaching business. You can be life coach or stress coach online and make money from it. There are a number of people into this kind of business where they help the clients and customers live a healthier life by overcoming life and business' obstacles and problems. In order to do well in this business, you need to have good listening and questioning skills to probe into the problems and concerns of the clients.

You can also start a business consulting business. If you are into business and have a vast experience in handling business problems, then this online business opportunity is right for you. For this business, you can offer your services to business and companies and you can offer suggestions and recommendations on how they can better run their organizations. The common approach in business consulting is to learn about the business, and from there make the necessary analysis and checks so you can make competent recommendations.

You can also set up a membership site where you can host an e-learning environment which can be accessed by paying members. The site can be a resource site when it comes to arts and crafts or focused on children books and stories. The choice is yours when you design an e-learning environment.

Another good idea that you can try out is the setting up of a tutoring website. If you have the knack for teaching and you want to impart knowledge, you can try this business opportunity. Instead of inviting students into your home so that you can tutor them, you can simply tutor the students using the web. You can use a number of online tools in this trade including YM, Skype and webcam. When you engage in this kind of internet business, just make sure that you have the right academic and teaching skills. Of course, you need to have the patience as well in order to do well. Another similar service that you can provide is an essay or thesis writing service online. This is an internet business where you can provide your writing service to students who are struggling with their papers and dissertations. Students and parents will pay for these papers if the papers are expertly written and of course they will get this kind of service is deadline is already looming.

Keep in mind that a number of options available online just waiting to be tapped. Just be creative in searching for your own business opportunity and for sure you find what you want!

Dany Cooper