Author: Nibletz Staff

Businesses can be pretty complicated. That’s hardly going to be something that comes as much of a surprise to anyone who’s ever tried to either start a business or keep one running over a long period of time. As the business owner, you’re often tasked with keeping a whole bunch of plates spinning all at once. This is something that comes with the territory and if trying to juggle a bunch of different things at once doesn’t sound like something you’d be able to handle then you may not be the right kind of person to be running a business. That being said, this doesn’t mean that running a business always needs to be an incredibly complicated, difficult process all of the time. In fact, if you’re finding yourself stretched thin trying to deal with a dozen things at once then something has probably gone wrong. There’s just no way that you could ever handle your business properly if you’re spreading your attention between so many things that you’re not really able to concentrate on anything. Luckily, if you do find yourself in this kind of situation, all hope is not lost! There is one solution to this problem that can make running your business a far easier and less frustrating experience: simplify. By stripping away unnecessary elements of your business, you’re going to be much more readily equipped to deal with problems that do occur. Streamlining and simplifying your business is a fantastic way to make your business far easier to manage overall without having to sacrifice its overall size and scope. Here are just a few aspects of your business that you should be looking to simplify right away.

Marketing

One of the most common mistakes that is made by a lot of business owners, especially those who are relatively inexperienced, is that they assume that the best way to market their business is simply to have as much marketing as possible. As though by spreading their marketing out to as wide an audience as possible, they’re going to be able to reach everyone at once. Sadly this is not the case and often has the opposite effect to what you might intend. For one thing, it’s important to remember that your business is never going to be able to appeal to everyone at once. Your business is going to have a target audience who will connect with it, and you should focus on those people. By putting out marketing in places where your target audience is never going to see it then you’re just going to end up wasting both time and money. Think about the kinds of platforms that your target customer uses and market through those avenues. Not only that but trying to appeal to everyone at once is just going to end up making your marketing so bland and generic that it’s not going to really appeal to any specific demographic. You’re much better off focusing your marketing in specific places and tailoring it directly to your target customers.

Infrastructure

No business can function without a solid infrastructure. This is especially true now that the vast majority of businesses are based online so much of the time. Without networks that allow you to communicate and connect with customers, employees and anyone else you need to speak to, your business could end up falling apart incredibly quickly. However, that also means that you could end up with dozens of crossed wires all at once getting in each other’s way and turning the day to day running of your office into an overly complex nightmare. Luckily things like hyperconverged infrastructure allow you to simplify and collect your data much more efficiently than you might otherwise be able to. Being able to simplify your infrastructure means that your business is working more effectively from the ground up, which is the best possible way to start making any changes.

Employees

A lot of businesses simply have too many employees. This is because the assumption of what you need is often way off the mark from the reality. Look at your business and ask yourself, how productive are you employees actually being? A lot of studies show that many employees are only productive for about three or four hours a day. That means that they could be spending more than half the day being distracted, chatting or doing something other than working. This often happens because they simply don’t have enough to do in order to keep themselves engaged. They have three hours worth of work that they need to stretch across an eight-hour work day. Given a choice between paying two employees to spend half the day bored with nothing to do, and paying a single employee to be productive for the entire day, it’s pretty obvious what the right call is.

Storage

Storage can be a major issue for a lot of businesses, especially ones that deal with large numbers of customer or accounts. In the past, as you took on more customers or clients, you’d fill up physical storage databases, something that would eat up a large amount of physical space. Then digital storage became a possibility, meaning that you were in a position to save physicals space by placing all of your storage on a dedicated server. However, that came with its own share of drawbacks. Filling up your servers puts a lot of pressure on your system which can cause it to slow to crawl or for things to go pretty badly wrong. However, many businesses have a solution to both of these problems at their fingertips: cloud storage. The cloud is essentially a vast network of servers that you can use to store, and easily access, important data and information for your business. It allows you to put everything you need in a single secure location which allows you to keep your information safe without overloading your personal servers.

Whenever you find yourself in the position where your business simply isn’t functioning the way that it should, take the time to see if there aren’t places where you could trim some of the fat away. By simplifying elements of your business, you’re likely to find that the whole things begins running more smoothly.

It doesn’t matter how good your services are, or how brilliant the item is that you have to sell if no one has any idea that you are offering these products or who your company is. That is where a good marketing strategy comes in. But the problem is there is so much information out there on the internet about how to marketing things successfully, how do you know where to start? Well, luckily we have come up with this short guide for you on what works. Read on to find out more.

Create interest

The number one tip that you need to consider when you are dealing with marketing is to create interest in your product. But how can you do this? Well, there are several ways, but in terms of web marketing, it really is about creating accessible and interesting content that draws potential customers in.

This can be done through providing some information relevant to the field that they are interested in. Or it can be done in an unrelated way with engaging content that first grabs people’s attention, and then associates your brand with the emotions that consumer experiences when they watch and interact with the content.

A really good example of this was the Cadbury’s advert with the gorilla and drum kit. Where they tried to create the feeling of joy you get when consuming their product.

Of course, different products will need different solutions and it important to consider carefully the interest you may create, before launching your content. As sometimes there can be a negative reaction as well as a positive one. An example of which is the recent KFC advert with the clean burger joke, that garnered a significant backlash on the internet.

Make it appealing

The next thing you need to consider when you are thinking about marketing is matching it to the type of audience that you project is aimed at. You need to ensure that everything from your web content, to adverts, to logos and branding is appealing to the demographic that you are trying to sell to.

A fabulous example of this that is around at the moment is the Halifax adverts in the UK. They use cartoon characters popular 30 years ago like The Flintstones and Top Cat. These are something that today’s generation of first-time buyers recognize and associate with positivity. So they make the perfect tool appeal specifically to the folks that are in the age range for buying their first property.

Work with professionals

If you are in the process of getting a startup off the ground, all of the above could sound like a lot to digest. Especially if your specialism, isn’t marketing. That is why is also a great idea to consider working with professionals for your field.

For example, if you are in the law profession then you may want to consider working with a unique web marketing partner for your law firm, instead of doing all of the work yourself. Or of you are offering a medical product, then you will want to go to a form that has marketing experience in this century.

The benefit of doing this is that it allows you to focus on the running of the business. Rather spreading yourself too thin, dealing with an area in which someone else could be more effective in.  

Federal income and capital gains taxes are a hit or miss game. You might think that the amount you earn might will determine how much you pay but actually it’s much more complicated than that and you can reduce your tax bill with some careful planning and a better understanding of the financial services available to you.  There are many things that can affect the percentage of tax you are liable to pay including the financial accounts you invest in and how you choose to manage any money that you make. There are investment programs and tax-efficient accounts specifically set up to encourage economic growth and free up taxable income for property, stock and business investment. For a startup entrepreneur, managing the amount of tax payable can mean the difference between new business success or failure so it is important to get it right. There are three main options for managing your federal and capital gains tax bills, these are:

• Using tax-advantage accounts and investments to not only save on the contributions on your current taxable income but also reduce tax on any investment growth in future years. Options such as 401(k)s, 403(b)s, IRAs, and health saving accounts allow you to defer your tax burden and potentially offer tax-free contributions, deposits and withdrawals.
• Utilizing strategic asset location and mutual fund distribution to manage your federal and capital gains tax. This includes offsetting charitable gifts, capital loss deductions and other tax deductable programmes such as 1031 exchange to manage income made from property investment.
• Reduce taxes by exploiting municipal bond income, Roth IRA or 529 college savings options. These not only reduce your overall tax bill but encourage good saving habits that offer huge growth benefits.

Let’s take a look at a few of these options in a little more detail. For instance let’s review how these options can help you to create a sound tax strategy that will look after your money so that you can get on with building your startup business as well as supporting your personal financial future through property and stock market investment.

Saving using a tax-deferred account is a positive choice not only to defer your tax bill but also to support high-growth savings that can be used towards your retirement. In fact this is positively encouraged. You will see your savings grow faster in a tax-deferred account and it has the dual benefit of planning for your financial future.  In fact retirement savings is an important part of your strategic tax planning because you are protecting your money both now and in the future.  

Tax deferment is only part of the puzzle though when it comes to good tax planning, choosing wise investment options is also fundamental. Choosing investment opportunities that actually reduce or deduct tax is key. That doesn’t mean you should only choose an investment based on its tax benefit, there are many reasons to choose a particular investment option which will depend on your personal financial goals and return requirements – but tax is important to consider when weighing up your choices.

One such investment opportunity that can reduce your tax burden is real estate, particularly if you use 1031 exchange rules to potentially avoid capital gains tax altogether. 1031 exchange legislation allows you to ‘swap’ property without having to worry about capital gains tax which means you are free to build your portfolio without worry about a tax bill until you wish to ‘cash out’. You can get more information online by checking out investment advisors such as this 1031 exchange company

Your next option is asset location placement, which might sound complicated to the layperson but it is simply working out which of your investments or personal income will demand the highest rate of tax and then placing that in the most tax-efficient account or program such as municipal bonds, stock index-linked ETFs or growth stocks. A general rule of thumb – the more tax rich an asset is the more you want to protect it using a tax-advantaged account.

It’s not just where you place your investments and savings that make good tax planning but also good timing. If you take an investment into a mutual fund for instance, you will want to see when the distribution of income and net capital gains is due because no matter how long you have held that account- from one day to one year – you will be reliable for the full amount, which could be up to a equal distribution of 90% of 98% of the total fund held. It is therefore worth doing a bit of research into the history as well as the tax benefits of the accounts you are placing your money in.   

Selling your investment close to distribution might seem like the solution for avoiding this potential distribution issue but it isn’t always advisable because if it generates you a large profit by avoiding the distribution of income and capital gains you are likely to incur a large capital gains charge on the sale profits. How long you hold your investment is also a considered part of your portfolio planning because if you sell a fund or security after the short term you could then be liable for short-term capital gains rate. You qualify for lower levels of tax if you hold on to your investment for at least a year so timing really is everything in successful tax planning.

This might all seem very complicated but it is just an extension of the fiscal strategy and planning you have applied to your business long-term goals.  Although paying tax is inevitable and you should never take steps to defraud the tax department, by taking professional advice and making smart investment decisions you can pay tax to your advantage, enabling you to free up monies to grow your business, increase your property portfolio or indeed invest in a new startup and encourage the future generation of entrepreneurs. Tax strategy planning then is as inevitable as paying taxes – but perhaps not quite as painful.

A lot of startups don’t make it past the first few years. If you don’t want your startup to be another one of these statistics, you’ll need to recognize what your best assets are. Once you highlight your best assets you’ll also need to know how to use them…

Technology

Technology is one of the best assets any modern day business can have. On a basic level technology makes it far easier to communicate with colleagues. It also negates the need for paper filing making systems far more efficient. Obviously, portable tech also makes it easy to continue working, networking and communicating on the go. But to fully harness this amazing asset you’ll need to use it as a marketing tool.

Before the days of social media, flyers, and word of mouth was the way to get your businesses noticed. In order to promote yourself, you had to physically come into contact with your customers and clients, or phone and email them. In today’s world, it’s far simpler. Social media allows you to instantly communicate with millions of people all over the world. Used correctly, social media can help you to grow your business by getting the word out. Don’t turn your back on this asset. You’ll need a copywriter, social media expert and an SEO company, to help you to tap into social media’s full potential. Excelsior Internet Marketing is one of the many companies who provide SEO advice to companies. Using these types of companies will increase traffic to your site and increase sales. Which means more profit and longevity for your business.

Your Staff

Staff are at the heart of most businesses, but nowhere is this more true than a startup. In the first few years, it will be your staff who are the engine room of your business, spurring it on. Having a passionate and dedicated workforce is one of your best assets. Make sure you make your employees feel like they are a part of something. Listen to their ideas too. This will engender an atmosphere of shared creativity, respect, and hard work. Employees will be able to give more to the business if they feel it is worthwhile. What you can’t give them in terms of a high salary, make up for in other areas.

When you are hiring prospective members of the team, make sure their personalities and ethos mesh with yours. You don’t have to be best friends, but it helps if everyone is on the same page and striving for the same goals. Most startups have a decidedly laid-back atmosphere as a response to the more corporate and aged business models. This is fine, but make sure you lead by example. If you don’t work hard and utilize your staff, your startup won’t last.

Startups are notoriously for having extensive initial capital requirements. Renting an office, getting your first employees on the payroll and transporting valuable resources to your area of operations can be a tricky endeavor in itself. However, one of the more insidious forms of startup cost come through your business tech.

Unless everyone is happy to provide their own laptops, in modern times it’s essential you provide them with some access to a digital workspace. This doesn’t even include all the overheads like your internet bill, electricity and just plain IT maintenance etc.

However, this doesn’t mean you need all the bells and whistles straight off. You don’t need to break the bank as soon as you start. With a little forethought and planning, you can actually greatly reduce the cost your soon-to-be great company will initially have to suffer.

Install a Linux format on old laptops.

If you’re struggling to provide a decent digital workspace for your employees, you needn’t despair. Sometimes you can buy laptops that are a few years old for an absolute pittance online. Especially ThinkPads, which are famous in small business for being easy to repair and found online for tiny sums of money compared to modern laptops or desktops.

In order to really speed it up and have it contend with a modern machine, install a light operating system on it such as Linux. If your company uses Google products for most of its operations, consider installing a free service like CloudReady, which offers a linux-based replication of a Chrome OS, essentially turning your old laptop into a Chromebook. This is a great way to ensure reliability and speed in even the oldest machines.

Use a storage facility.

Sometimes, you need to shop around for the best moving companies that also offer cheap storage. Using a service like MyBelkins (https://mybelkins.com) can help you offset the cost of potential tech items, or help you store unwanted items before you sell them.

Consider making cloud storage standard.

Before you’re operating at a level that requires entire building floors dedicated to your server farms, cloud storage offered by Microsoft, Google or Dropbox can be an inexpensive way of hosting the important files on your business needs to operate. It’s always good to save these in a multitude of secure places, but cloud storage is the first place it needs to be. You can also go to the trouble of adding different permissions for your employees, creating an easy way to give correct file access to those you work with.

Not only is this cost effective to begin with, but in a gigabyte per dollar ratio, purchasing the premium packaging options can expand your storage to really make your investment worth it.

Consider calling in favors for IT maintenance, or do it yourself.

Google is a valuable resource. 95% of problems you encounter with your IT systems will have been encountered by someone before you, and if you’re lucky there’ll be a long forum discussion somewhere that helps you resolve your problem. Alternatively, consider using a friend. Many people are IT literate these days and won’t necessarily charge you if you can promise a favor later on.

Keep these strategies in mind and you’ll be among the smartest running a startup in its infancy!

Good luck!

When you’re starting up your own business, the last thing that you want is to hit a wall. Most people tend to have a few hurdles, and that’s to be expected, but getting to a point where you don’t know how to continue or which path to take can be extremely daunting. For most of people, they stick with one startup and follow it through to the end; then there are those that are continually going through the actual starting-up process of their startup time and time again, with different ideas, but who always get stuck at one point and then give up. Sound familiar? Here are the tips to give you a leg-up over the obstacles.

Don’t Get Ahead of Yourself

The one thing that we seem to get completely backtracked by is trying to attempt things that we have no concept how to complete or no idea how to deliver. Another crucial point is waiting until your business is at the point where it is ready to accept change or be able to handle it. Everything comes in time, and as the old adage goes, Rome wasn’t built in a day. You need to give yourself the space to establish yourself, gain a reputation and more importantly win trust from those who are willing to invest in you.

Make It Easier For You – And Your Customer

Once you have started to slow yourself down and remembered to only take what you physically and mentally can on board (totally go for what’s within your remit rather than thinking about what you could achieve right now), it’s time to face the next challenge: The Customer. There are no startups that get by without having some sort of financial input into them, and this is what you need to be aiming for as your ultimate goal. People nowadays aren’t fussed about what you’ve got to offer. There will always be somebody offering an alternative. If there isn’t, there soon will be. It’s a fact that all of us need to get into our heads. You need to make it extremely easy for the customer to be able to part with their money. If you need verification for your customers, get an ID scanner; if customers need to pay, offer PayPal, BACS, Contactless transactions – the world is your oyster. There are so many simple solutions to what could potentially be putting hundreds of customers off. This isn’t a hurdle that will stay there for a while – it’s one that can easily be kicked down once you know how!

Spend Within Your Means

Most of the challenges that you faced with crop up because you need the money to be able to execute whatever plans you’ve got – it’s just that the finance isn’t actually there. There are so many grants and bursaries that are available for startups currently, it’s just knowing where to find them. Have a look around online and see if you fit criteria. For example, in the United Kingdom, there is a charity called The Prince’s Trust which has helped thousands of startups for younger people throughout the country. See what applies to you within your local community and whether you are eligible to apply.

Starting a business in the property industry is a route a lot of entrepreneurs are heading down. After all, real estate is one of the best ways to make money in the modern world. While other sectors might be failing, the real estate market is thriving with property prices flourishing year after year. And unlike other industries, you don’t have to worry about the business drying up as people are always looking for new properties! However, it’s easy for real estate businesses to fail if the wrong steps are taken. And then you could end up losing money. Therefore, to ensure you have a booming business, here are the essential ingredients to real estate startup success.

A well-researched plan

You might be surprised how many people take the first steps into their real estate business without planning out their business property. After all, they get the sufficient training to become a licensed realtor and think they can then start their business. But then they end up living with regret when their business fails as they encounter problems and have no clue how to deal with them. Therefore, if you want your real estate startup to be a success, you need to make sure you have a well-researched plan. You need to cover all the possibilities of what could occur in the next couple of years. That way, you have a plan set up if things do go wrong. You also need a plan of action when it comes to securing business. After all, you can’t just sit and wait for the customers to come to you. Therefore, plan exactly the route you are going to take to ensure your business is a success. You should get others to look through your plan too before you begin your business. After all, they might be able to spot issues, and then you can make changes. Also, experts in the industry are good to talk to when making a plan for your business. After all, they have the experience behind them to be able to help you make the right moves. And don’t forget to look at your competitors. After all, if you see how they have managed to grow into a successful company, you can follow their lead into the industry. It can also help you to see things they have missed which you can use to make your business a success!

Good customer service

A lot of people don’t realize how important customer service is. But in the real estate industry, it’s key if you want to make your startup a success. After all, if you don’t have excellent communication skills, property deals are easily going to fall through. And you will lose potential tenants for your properties which will result in money loss. Also, if they don’t think you are a good company, you could soon find bad reviews online which will harm your business. Therefore, to ensure your real estate startup is a success, it’s so vital that you work on sharpening your customer service skills. You might even want to go on a course which can help you to deal with customers in challenging situations. After all, you might have to deal with tough situations that require patience and smooth talking. And if you don’t have the skills behind you, it’s likely your startup will fail. Therefore, make sure you work on making your customer service top notch for the sake of your business. And hire other people to work alongside you when dealing with clients. That way, there will always be someone available to talk to the customers when problems occur.

The right properties

A lot of real estate startups go wrong as they don’t have the right properties behind them. After all, if the properties aren’t in good condition, you are going to struggle to get anyone to take them off your hands. But in order to be successful, you need properties which are going to go quickly, so that you can have a quick turnaround. That way, you can make money with your startup, and ultimately, be more successful. Therefore, you need to spend more time choosing properties to add to your list. If you are buying properties to let out to tenants, make sure you spend time checking over the house and the area. After all, you want to make a wise investment which is going to be an asset to your property list. You might even want to look into getting properties from companies like TripleNet Gateway. After all, it can be a convenient way of getting income-producing real estate on your books. And remember that if you do have a property you are struggling to shift, it might be time to sell it on. After all, you don’t want to waste time trying to shift it when there are other great houses which could be on your books making you money!

Great tenants

You also need to make sure that you are working with the right tenants if you want to be successful. A lot of companies make a list of requirements first before they let out any of their properties. After all, you might want to go for over 21’s who are in full-time work to ensure you get funds every month. And you should make enquiries into past renting experiences to make sure they are going to stick around and pay you monthly. And with the right tenants in your properties, you will have minimum work to do to the property after they move on. Just make sure you communicate with the tenant regularly to keep a good relationship with them. And whether you think they are reliable or not, ensure you do make checks to ensure that they are keeping the house in good nick. After all, you don’t want to be left with any surprises after you go.

And remember that any good real estate company has good marketing. After all, it’s the best way to draw people to your company. And make sure you use all the latest tech when it comes to advertising the properties. Property walkthrough videos and 3D floor plans are just two things you need to keep up with competitors.

Thinking of starting a business? It could be one of the best things you will ever do. You get to take the leap from employee to being your own boss, you get to use your creativity, call the shots and generally take control. But starting a business can be scary, having a good product or idea isn’t enough. When so many startups fail, it can give you ‘the fear’ and make you wonder if you’re making the right decision. Here are some things to brush up your knowledge of before taking the plunge.

Branding

Your image is everything, but this is one area new companies often overlook. Your company name and your logo are just the beginning, you need to know what kind of message you want to portray to your customers. Branding your business and creating a trademark also makes it more valuable, when people buy from a trusted brand they know they’re investing in the good reputation of a company. Speaking to a branding expert for small business is an idea and worth the investment. It can give you the information you need to get out there and succeed.

Office

In the beginning, you might decide to run your business from home. This makes sense from a financial point of view, and as things grow and develop you can move to office premises. Once you start hiring employees there’s a lot to think about- you will need to ensure you’re following all of the current rules and regulations to make sure everything is done fairly and legally. You will need to take health and safety into consideration, and also provide workers with an aesthetically pleasing office space. A clean, bright and spacious office will mean workers are happier and more productive. You will need to provide good equipment from ergonomically designed desks and chairs to high-quality tech equipment. And you will need to look into business software to run on the tech. Something like SAP business one partner can be useful as it merges all business software into one place, making it far easier and more efficient to use.

Promotion

Getting your business noticed can be more difficult than you think. You can set up a website and stock it with awesome products, but without promotion, how is anyone going to find you? There are a couple of ways you can go about this. You can pay for advertising, Google Adwords and link building are both effective. You can also write a blog to promote your website, this will help to boost the rankings in search engines and eventually lead to more organic traffic. You should also use social media to help get the word of your company out there. Once orders start coming in, encourage customers to leave you reviews. Reviews from real users on social media are invaluable, and can hugely sway anyone who is on the fence about ordering.

It has never been easier to start a business.

The rise of digital commerce has made it possible for all kinds of people to launch new ventures. It is a misconception, however, to assume that it is also easier to run a business now. If anything, it has become increasingly challenging.

Competition is fierce, so entrepreneurs need more than a great idea.

They need to be able to forge strong links with vendors and retailers, not just with customers. Settling bills on time, listening to the wishes of clients, and taking the time to network strengthens B2B relationships.

Keep reading for some tips on the best ways to impress big retailers and secure lucrative commercial contracts.

Give a Special Gift

One of the simplest and most effective ways to please clients is with smart promotional products. Everybody likes to get something for nothing and, if it has a practical application, it is going to go down well with people in the office. Just make sure to strike the right balance between branding and finding new B2B contacts. The gifts that you give should be immediately useful, attractive to look at and offer maximum longevity (like a calendar or mug).

Go the Extra Mile

It pays to be extra attentive when trying to convince retailers and vendors that your product is the next big thing. Don’t make promises unless you can keep them, but do make an effort to please clients. Whether this means taking industry contacts out to dinner or sending gifts to valued associates, make your B2B relationships feel important.

Always Be Reliable

If you are a first-time entrepreneur, you will likely be held to a very high standard. Mainstream retailers are used to taking risks on new products, but there isn’t much room for failure. If you miss supply deadlines or your products are not up to scratch, most won’t stick around for a second attempt. So, only commit when you are sure that you can deliver. Word of mouth is a powerful tool, and satisfied clients will want to introduce you to others.

Find the Right Crowd

Networking is a hugely underrated form of marketing these days.

Many younger entrepreneurs neglect it because they put all of their time into digital advertising and SEO. Both are important, but networking has a higher impact if it is done correctly. While it may not be as fast or broad as social media, face to face communication is unbeatable when it comes to leaving a lasting impression. Attend trade shows, workshops, industry talks, and pitch nights for the opportunity to schmooze new clients.

Prioritize the Customer

To impress retailers, you need to prove that you can please their customers.

When giving pitches and presentations to prospective B2B clients, focus on the end user. Make it clear why investing in your product is the best way to make shoppers happy. Try to be concise and straightforward. Too much marketing jargon can discourage sales consultants. Ultimately, all parties involved in a business deal just want to know how they stand to benefit.  

Why a Little Goes a Long Way in the World of B2B

When you are a small business and just starting out in the world, having the right support can mean the difference between success and early failure. So, make a special effort to connect with retailers and vendors who share your values. Put time into B2B relationships and don’t be afraid to remind clients that they are an important part of your operation. Whether you do this with promotional gifts, social meets, or special rates, giving a little is a good way to win those lucrative contracts.   

There is something that anyone who runs a medical practice is going to be acutely aware of. Something that sets it apart from many other organisations. That is the fact that there’s a certain degree of balance involved in a medical practice that is almost entirely unique. That balance is between two incredibly important things. The first is your ability to care for and support your patients. The other is running your practice like a successful business. The issue that many practice owners come up against is the fact that it can sometimes feel that each of those things needs to come at the cost of the other, or worse, that they’re complete polar opposites. Of course, there’s a chance for that to be true. You could have a practice that is so focused on functioning as a business that it leads to a lack of high-quality patient care, or you could focus on your patients so exclusively that you end up neglecting your business. Fortunately, being able to balance those two things is far easier now than ever before. There are plenty of modern innovations that have led medical practices to be able to not only improve both patient care and their business model but also balance the two in a much more intuitive way. A medical practice that is right on the cutting edge is one that uses innovation to improve every aspect of itself, and here are a few places in your practice where innovation is going to do you the most good.

Appointments

One of the most frustrating things for any medical practice is the amount of time and money lost when patients fail to show up for their appointments. Not only is this a waste of time and resources but it also means that there are patients who could have been seen but were turned away because there were no other appointments available. Of course, it’s not always going to be down to laziness or malice that a patient didn’t show up. Sometimes people find it difficult to get around when they’re sick, or they simply feel uncomfortable going to a doctor’s office. Luckily there’s a piece of technology that is already in use by millions of people all over the world that can solve a lot of those problems. That is, of course, video conferencing software. If you can use programs like Skype to chat with distant friends or relatives, then you can certainly use it to speak to patients. This way patients can talk face to face to a doctor without having to leave their home. Of course, there are limitations to this. If they need specific treatment or an examination, then they need to be physically present, but being able to speak to a doctor from a safe space in the early stages make patients far less likely to miss later, in-person appointments.

Coding

A medical practice cannot survive without income. That’s a fact of life, and whether you like it or not, it’s something you’re going to have to deal with. Of course, this can be very complex, especially when you have things like emergency patients, complex procedures and other, unexpected aspects to patient care. Medical coding allows you to transform those elements into universal codes that can be used to provide the correct financial information to patients and practices. Plenty of medical coding companies specialize in things like emergency treatment so that your practice doesn’t end up in a position where you’re unaware of what a particular treatment has cost. This doesn’t just benefit your practice of course. For one thing, allowing another company to handle your medical coding allows you and your staff to focus on patients more thoroughly, but it also makes sure that patients are never charged the wrong amount for a treatment, which is something that can cause real problems for their health insurance. Accuracy is paramount when dealing with medical insurers and it’s not something that you can afford to do half-heartedly.

Diagnosis

There was a time when the process of speaking to a doctor, describing symptoms, being tested, and receiving a diagnosis, was something that could take days, even weeks. But now, thanks to some incredible innovations in diagnostic technology, doctors are able to test and diagnose patients far more quickly, sometimes even within the first consultation. For one thing, simple access to the internet means that doctors can research symptoms far more easily than ever before. Add to that pieces of tech that can test for things like blood sugar and certain illnesses in minutes. There are even some occasions where artificial intelligence is being used to diagnose patients since they are able to search through a huge database of cases and symptoms in a matter of moments. This makes the lives of patients far easier as they are getting diagnosed far quicker and more accurately, but it also makes the lives of doctors far easier. It allows them to see more patients throughout the day and lowers the number of needles follow-up appointments that they need to do.

Patient Portals

A patient’s ability to interact with your practice is incredibly important. Many people are fairly unwilling to pick up the phone in order to make an appointment, so having an online patient portal can be an incredibly elegant solution. Not only can it be used to help them make appointments, but it can be used for renewing prescriptions, leaving feedback, even keeping informed of recent outbreaks of any kind. Not only does this mean that patients can interact with the practice far more easily, but it frees up administrative staff to get a lot more done since they are no longer having to deal with a phone that is ringing off the hook throughout the day. A patient portal is also a great selling point for your practice. After all, without patients your practice can’t function so having something like that to draw in new patients can be a genuinely invaluable tool.

Starting a business is a venture that is not usually all plain sailing. There will be a number of obstacles in your way and right at the top of the list is finding the money to fund it in the first place. After the economic crash that happened a few years ago, financing isn’t always easy to obtain and you may have to try several different methods before you settle on one that is right for you. Launching any business is something that comes with a degree of risk, but the rewards are there for those who make a success of it.

Here is a quick overview of the top ways that people get the money together to start their own business.

Use Your Own Savings/Sell Your Assets

If you have saved money over a number of years, you may well be able to channel this into your business. In today’s online marketplace, a lot of businesses can be started without requiring a huge amount of capital so this may be a good method if you don’t need a great deal of money to begin with. This has the natural advantage of meaning that you are relying on yourself rather than needing the support of others. Another option is to sell off any assets that you own as a way of self-financing your business. Of course, this isn’t the option for everyone as some businesses require a much larger amount of startup cash.

Raise Money From Friends and Family

Getting a little help from your friends and family is probably the most common way of financing a business. The main issue with this approach is that you turn those closest to you into creditors, which could jeopardise future relations with them. A common mistake is to go to them before a tangible business plan is in place. You need to make sure you have done all the calculations and give yourself the best starting point possible before actually approaching your friends and family. This shows them that you take the business very seriously and appreciate the money that they are investing in you. One of the most important things to do is reinforce that you understand the risk that they are taking. This can avoid any future awkward conversations down the line!

Get A Loan

Another common approach is to obtain an official loan. In days gone by, bank loans for small businesses were easier to obtain but now there tend to be more hoops that you have to jump through. Another option is to get a personal loan. Even if you don’t have a strong financial history, poor credit loans are available. Once again, this is where you need to have that strong financial plan in place so you minimise your risk of getting into difficulty somewhere down the line. Make sure you are fully aware and comfortable with the terms of the loan before actually taking the plunge.

Use a Credit Card

It is a risky approach if you use it for big sums of money, but many people use their credit card in order to have quick access to some extra cash. These tend to be relatively easy to obtain for most people, but don’t fall into the trap of getting sucked into a huge amount of debt. If you end up falling behind on your payments, your credit score could take a huge hit as a result. Alternatively, if you just pay the minimum each month then you could be digging a hole that it is very difficult to get out of. If used responsibly, a credit card can be a very useful tool for shoring up the cash flow situation of your business.

Try Crowdfunding

Nowadays, crowdfunding is becoming an increasingly popular way to fund various projects. These tend to be most common when it comes to relatively low cost, creative businesses. You start by setting a target of how much you would like to raise over a period of time. Next, friends, family and complete strangers all contribute their bit to the overall total. Remember, these type of sites don’t tend to be for long term funding. It is still a relatively new approach, so it is changing all the time, but investors can still end up making a decent return if your business is a success.

Pledge Future Earnings

If you are ultra-confident in your future success, you may be willing to make a bet on your future earnings. Ultimately, you will have to have a very strong business model and be able to show that you have projected to make a great deal of money in the future in order for investors to trust you. The deal goes that you will give a percentage of whatever you make in the future for that initial upfront investment.

Attract an Angel Investor

Finding an angel investor is another traditional way of getting money together for your startup. Wealthy individuals are still willing to back your business if you can prove to them that it is worth their while. A good way to improve their trust in you is to get the support of an experienced management advisor to pitch with you. This shows that you have expert support behind your team. Make sure that your business is a passion project and an area that you know inside and out. There is nothing more likely to give off a negative impression than if you are unable to answer a lot of the questions that are thrown at you. Make sure you have done everything from marketing assessments to sales plans so you can show them that you are well and truly prepared. If you can’t persuade them straight away, it is worth keeping in touch so you can inform them of successes that you have had that might persuade them to give you their backing.

Community Schemes

All kinds of community development finance initiatives have been set up around the country as a way of supporting individuals and businesses that can’t obtain the funds they need through traditional methods. Their terms are often quite restrictive so you will have to qualify by being a micro-business or social enterprise, or be based in a disadvantaged area. If you meet any of this criteria then it is worth looking into to see if you could finance your business this way.

Factoring

The process of factoring involves selling your receivables at a discount so you can get the cash up front. This is a common method for companies that have a poor credit record or those that have to fill long order before they can get paid. The main disadvantage is that it is an expensive way to raise funds. Companies generally pay a fee that is a percentage of the total amount, which can end up being pretty steep. That is why factoring has got a bit of a bad rep in recent years.

These are just a few ways that businesses can get off the ground fiscally. The one thing that they all have in common is that you will need a solid plan of how you will actually the spend the money, and more importantly, how you will pay the money back if you have borrowed it. Obviously, in business there are no guarantees, but you will be in a much stronger position if you build from a solid plan in the first place.    

We don’t have to go over just what percentage of startups fail. Needless to say, it’s enough to make you think twice about launching your own. However, percentages can be misleading – if you have a golden idea that you really believe in, then it’s probably worth throwing your hat into the ring and doing your best to make it a success, because the reasons so many startups fail is because they make too many obvious mistakes. Take a look below and make sure your startup isn’t guilty of any!

Moving Too Fast

In your enthusiasm it’s all too easy to jump ahead of yourself and launch before you’re ready. But if you move too fast you’re much more likely to overlook crucial details that might determine whether your startup succeeds or fails. Before you launch, make sure you’ve done a thorough checklist of everything that needs to be taken care of. Click here to see a list of the essential details. Conversely, moving too slowly might also be just as damaging, so do your best to ensure you’re moving at the right speed!

Not Enough Expert Voices

You’re an expert at something, but you’re definitely not an expert at everything. Unfortunately, there’s a lot of things that you need to get just right if your startup is going to be of the quality it needs to succeed. Take your website. It has to be on point, but you probably don’t have the skills to make it so. That’s why you need to rope in outside experts. At this website you can find PHP developers that’ll have the skillsets you need. Also, even if you’re smart with money, you won’t be as smart as a professional financial advisor, who will be able to tell you the right time to grow and when to be careful.

Being Too Specific

We know what you’re thinking. The startup market is pretty saturated, and if you’re going to survive you need to make sure you have a completely unique selling point or product or service. While that can be good, you shouldn’t rest on your unique idea for success. Make it a part of your startup but not the entire thing. Even if it’s the star, you should also be offering more general products that people will be interested in. You can’t sequester yourself in your own market; you need to get in the mix and compete against other companies doing similar things.

Living in a Fantasy World

You see companies who are much more excited about their product or service than their customers are all the time. They’ll send too many emails and hint at the “exciting things to come” which are really only exciting to the company, not the general public. Remember that your company is only everything to you; to the general public and your customers, you’re one voice in a million. Keep a level head and don’t overestimate how much people care – it’ll keep you focused and always pushing to keep people interested.

When you are starting a business of any kind, you obviously need a good idea and a huge amount of hard work and commitment. But you will also need some essential tools that will get you off the ground. Some businesses can be launched using just a laptop, whereas others will require a lot more technical equipment. If you are struggling to put your finger on exactly what you will need, here is a guide to investing in the right equipment.

Make A Budget for Your Equipment

Careful financial planning forms the cornerstone of any successful business. Before you actually spend anything, you need to write a list of exactly what equipment you need to begin with and its cost. Work out what is essential to actually get your business off the ground, and what can be bought at a later date as the company begins to grow. It is worth shopping around to see what kind of prices you can get so you get a full picture of the marketplace. Ask whether you need the equipment at the top end of the marketplace or you can get by with something cheaper. Sometimes, it works out as more affordable if you invest in the more expensive equipment as you know it will last longer.

Get A Tech Audit

When you are starting a business, you are usually going in with a decent amount of prior knowledge in your sector but there will always be someone who knows more than you. It is worth consulting with an expert in your field as they may be able to provide you with specific advice that will give you a better idea of exactly what you need. If nothing else, it always helps to get another perspective on things.

Prioritize Your Needs

Make sure you will be actually using what you buy within a short timeframe of starting the business. For example, most businesses require technology like a laptop and phone system to get off the ground, but you may be getting involved in an industry in which water is an important commodity, in which case a strap on water flow meter may be a priority. Ultimately, if you are not going to use a piece of technology within a short timeframe then it may not be worth getting straight away. Prices tend to come down over time and new technology is always replacing what has come before it.

Keep Tech Rentals in Mind

If you can think of certain items that you need initially but your business will begin to outgrow them after a limited amount of time, it may well be worth renting them instead of actually buying them. There is no point spending extra cash on an item that you know you won’t need after a relatively short amount of time.

These are just a few ways that will help you choose the right business tech. Remember, you can always invest in more as your business starts to grow.