The Success of Your Business Is Down to Your Knowledge of It

books-927394_1280

Do you know what separates business success and failure? A business’s owner. It is the work that a business owner puts into their venture which ultimately makes or breaks it. It is the calls they make on both the everyday and important aspects of their business that makes the business what it is. It is the ideas they have to take it forward, and the way they implement them, that does in fact take a business forward. And to stop a business going backward, its owner must be prepared to go further than the extra mile. They must be prepared to learn everything there is to learn about their business. If you own a business or are a prospective owner of a business then make sure to take heed of the advice below.

To run a successful business and dominate your industry you need to be knowledgeable. You need to know everything there is to know about your business and the industry it markets in. You have to know everything from the exact details of your business model all the way to the personal likes and dislikes of your customers. If you aren’t attuned to absolutely everything regarding to your business then you need to become so. One way to do so is to learn. And one way to learn is to take courses. Yes, going back to school may sound like a step backward. But if you do so, and you do so correctly, come your graduation you will be many steps ahead of your competition. And going back to the world of education in order to benefit your business doesn’t mean you have to take a Business Management degree. There are a whole host of different courses to take and degrees to earn out there. You just have to pick the one that will help you understand and run your business a bit better. For instance, you may take a degree in order to understand your customers a bit better. If the main percentage of your business’s customer base are of an older generation then why not take studies that will help you understand them a bit better? You could take a Gerontology degree and learn all about the behavioral and psychological habits of the elderly. In taking this kind of venture you will not only increase your chances of understanding your customers but you will show to them that you are willing to go the extra mile to make their custom special. Or you may go back to school in order to hone your skills with the hands on aspects of your business. You could take a degree in Project Management, for instance. A Master’s in Project Management online will leave you in good stead in your future as a business owner. Being professionally trained in this area will mean you become an effective decision maker. And every business needs an effective decision maker at its helm.

So, if you want be successful in the world of business make sure not to dismiss the idea of going back to school. In order to run a successful business you need to sharpen the best tool that is afforded to you: your brain. You need to make sure it is full of everything you need to know on a daily basis to make your business a success. And to fill it with these things, you need to be open to the idea of being taught.

From 0 To 1: Powering On Your Tech Startup

pexels-photo (6)

Getting any startup off the ground is a serious undertaking, but tech startups are certainly within the right industry in this modern and digital age. Of course, your tech-based startup is going to face its fair share of competition. All the popularity and demand for technological solutions to the world’s problems means that thousands of other like-minded entrepreneurs had the same idea as you to pave their way into the technological sector with a strong and innovative business concept. If you’re wondering how on earth you can power up your tech startup to stand out from the crowd, here are some pieces of advice which might help guide you to success.

Understand the concepts.

Being an entrepreneur requires creative ideas and a strong grasp of business, but the boss of any company doesn’t always have the technical knowledge required to carry out every single operation within their company. You’ll likely be looking into either outsourcing work during your business’ early days or hiring developers to help if you have the money. Either way, you’ll want some form of team to help turn your business concept into a reality. Yet, as explained over at https://www.entrepreneur.com, that doesn’t mean you should have no technical knowledge of the finer details involving your industry at all.

You likely have some interest in technology if you wanted to create a startup in the first place, and perhaps you have some coding skills or understanding of computer hardware, depending on the specific area in which your company will be based. If not, you should be furthering your knowledge so that you can explain how you want your ideas and concepts to be developed into real systems to your developers. You need to understand the language so that you can efficiently communicate what you want to be done. As explained on https://www.theguardian.com, an idea is only as good as its realized form.

Be vigilant when faced with security threats.

Security threats are something which which every modern day business must deal, whether it’s a threat to the physical premises in which your company is based or the virtual aspect of your business accessible through the internet. Security threats are unavoidable, but their damaging effects are preventable. As a tech startup, this should certainly be a priority for you. You could even head over to http://online.maryville.edu/cyber-security/bachelors/ for qualifications in cyber security if you’ve always had a penchant for safety precautions when it comes to technology.

As the owner of a startup, there’s a lot that you’ll have to do yourself in the early days of your company. Your organization is going to be vulnerable on so many levels, and it’s vital that you protect your company from potential security threats to your data and the overall system, as such attacks could damage everything you’ve built before you’ve even properly built it. It’s important that you take extra precautions with digital security, considering that your tech company likely depends on its digital capabilities to run smoothly.

Mobiles are taking over.

As explained over at http://seriousstartups.com, mobiles certainly are taking over the world of technology. Whilst they’ve been popular since their inception, the new smartphone breed of mobiles has further pushed other technologies out of the limelight, as mobiles can do everything. Consumers spend their time on mobiles rather than laptops, and that’s why your company needs to focus on gearing itself towards the future. Google’s search engine favors websites which are responsive to mobile phones, so you know what your tech startup needs to do if it wants to remain modern and relevant.

The True Cost Of Starting Up

CostRomrf-1

There’s a whole world of things to consider when you embark on a start up. The chances are, you know that by now. But, even when you think you’re on top of everything, another issue needs attention. Of course, no one who jumps head first into the startup world thinks it’s going to be plain sailing. You only have to look at the kinds of people who embark on these projects to see that much. In general, startup front runners are motivated, hardworking individuals who go above and beyond to get their ideas off the ground.

But, with so much focus on your project itself, you may find that you’ve neglected to consider one thing. The costs. Okay, chances are you haven’t neglected them altogether. But, you may have neglected how much work you’ll need to put in to keep on top of accounts. The good news is, there are ways to make things easier. You could pay an accountant to keep track of things. Or, you could look into something like a UAB accounts course and take care of things yourself. Whichever option you settle for, you need to find a way to get on top. If not, you could find things spinning out of control before you know it’s happening.

The first step towards getting your accounts under control is to gain an understanding of your outgoings and income. This may be hard to predict, but there are some ways to get a head start on things. Think, first, about where money will be going out. You’ll need to think about the cost of product materials. No matter your product, the chances are you’re going to need to pay some money towards production. Do your research to find out how much we’re talking. It may also be worth looking at what you’ll be spending if things get off the ground. You won’t want to halt production because demand got out of control. That’s a sure way towards failure. Instead, it can help to predict customer trends if possible.

As well as the upfront material costs, consider extra expenditure involved. A lot of the time, how much this is depends on how far you want to take things. For the most part, though, few of us would say we wouldn’t like our business to go as far as possible. So, you’ll also need to consider the cost of employing someone to help out. You can’t take on a fast-growing business on your own, and things will soon start to slip if you try. How much could you realistically afford to pay? Bear in mind that your rates will need to be competitive. Yet, you don’t want to put yourself out of pocket here. Think, too, about the tech costs you’ll need to consider. You may want to provide company computers. And, you’ll certainly need to supply an internet network. The good news is, there are ways to save here. All you need to do is research what they are.

What Separates Business Success & Failure?

pexels-photo-220068

Are you made of the ‘right stuff’ to enjoy success? It’s a question on the lips of anyone starting out in business for the first time, and there are certainly a few habits, traits, and practices that can help you become a successful entrepreneur. But the reality is that even if you tick off every box on the entrepreneurial skills checklist, there are no guarantees you will succeed. There is a fine line between success and failure in business, and to enjoy the former over the latter, you should take the following principles to heart.

A good work/life balance

One of the myths that always occurs about becoming a successful entrepreneur is that you have to invest all your time, 24-7-365, in running your business. But this could be a huge mistake. Almost 6 out of 10 successful entrepreneurs state that spending time with their families is critical to the success of their businesses. And while virtually all of them would agree that you can never actually switch off, if you can’t strike the right balance, it can often result in business failure – not success.

A robust network

Don’t believe the myth that entrepreneurs work exclusively by themselves, and are entirely self-reliant. Nothing could be further from the truth. Yes, there is the odd entrepreneur that succeeds in going it alone, but the vast majority have a good support network surrounding them that contribute to their successes. And the DIY ethic is also a myth – successful entrepreneurs rely on delegating and other people to take on specific roles within their business. Whether it helps with accounts, marketing, or product development, there are usually huge teams of individuals working behind every great entrepreneur.

Love what you do

If you love what you do, there is a lot more chance you will avoid failure. Passion is a big part of the reason why Entrepreneur Steve Altimari succeeds, for example. It was a love of brewing practices and learning about the different methods used to brew beer around the world that inspired Altimari to give up a Silicon Valley career and start work on a highly successful, award-winning brewing company. If you have a passion for a particular industry or product, it can be a huge boost to your chances of success.

Failure to fail

The biggest difference between successful entrepreneurs and failed business owners is that the former keep going. When your business fails, you should see it as a good thing, learn from your experience, and either make adjustments or move onto the next project. Just because a business tanks doesn’t mean you have no future. It’s also worth pointing out that a failed business isn’t necessarily one that dissolves. In fact, many business failures still get bought by other companies who think there is potential and are willing to make changes – meaning even a failing company could provide you with valuable funds to put towards a new idea.

If you want to enjoy success in business, follow your passions, be dogged and determined, and build up a good team and support network around you. It will make the difference – and even make a success out of a failure.

Want A Successful Marketing Campaign? Include These Three Things!

Startup Stock Photos

Even though every single day you run your business is an opportunity for you to market yourself, you may find that certain situations arise where a full-scale promotion campaign is needed. Perhaps your business is embarking on a new branch, or maybe you have reached a celebratory milestone, and you want to do something special to mark the occasion. Whatever it is, a marketing campaign that is well-executed has no drawbacks – the only thing it can do is get people talking about you, and therefore pull in customers. However, it isn’t always as easy as just putting a few things out on social media and updating your website. A great marketing campaign has many different arms attached to it, all who need to work in sync with one another. Here are all the different bases you need to cover to successfully deliver your campaign to the masses.

Get a press release out there


With the steady decline of the printed media, you may wonder if sending out a press release is even worth it anymore. But the truth is, they are so much more than simply a way to get into your local newspaper. Press releases are now picked up by multi-faceted organizations. So, even if you send out a press release to an industry-relevant magazine, it could end up on their website and social media instead. Utilize your in-house writing team to craft a press release that ticks all the boxes. If you’re unsure what any of these boxes are, read a guide like http://theprauthority.com/how-to-give-an-online-press-release-and-do-it-well/. A good press release has the power to get your campaign recognized in many different media formats, so take the time to make sure you get it right.

Connect to your local network


Are you aware of the business events that are currently going on in your area? If not, why not? Connecting with other companies and your service users can be a great way to spread your message and get results. Treat it as a form of direct marketing. For example, you may head to a casual networking event that is being held at a local bar. You don’t want to overwhelm people by giving them too much of a hard sell, but you can certainly drop off a few business cards and some flyers to help promote a specific event.
Image source

Improve your visibility


No matter what it is you are promoting, good engagement with your marketing campaign relies hugely upon visibility. This relates to how much you are shouting about what it is you are doing within the public sphere. For example, is your event or latest news clearly advertised on the front page of your website, or do readers really have to dig to find so much as a mention of it? Make sure your website and social media platforms are all on the same page and all promoting the campaign – continuity will help to get the message across.

Investing: Your Profit/Loss Plan

chart-1905225_1280

A profit/loss plan is an important step that many investors unfortunately overlook. This is basically a set of limits that determine the maximum loss or gain that any given investor can take on an asset. Containing your losses is obviously very important, so the profit and loss plan is crucial to your strategy. Here’s how to form a solid plan for limiting your investment losses…

Devising the Plan

Devising a profit/loss plan may turn out to be a lot trickier than you might expect. First of all, you need to establish the maximum gain and the maximum loss you’ll accept from your investments, but these shouldn’t always be the same for every stock. For example, a small-cap growth stock is much more likely to rise and fall by 10% in a given year compared to a blue-chip stock. You need to analyze each stock on an individual basis, and make a good estimate as to how likely it is to rise and fall. A lot of investors use technical and fundamental analysis through high-end trading platforms to do this, which is one more reason why you need a Falcon trading computer! Another, albeit slower and less accurate way of doing this is modeling your plan on the performance of a specific benchmark, such as an index.

Putting It into Action

Once you’ve settled on your figures, whether they’re aggressive or conservative, it’s time to put your plan into action while avoiding as many hiccups as possible. Remember that there are two sides to this. You’ll need to sell your stocks both when they rise to a certain level, and when they fall to a certain level. Brokers won’t let you make two different selling orders for a single security, so you need to take some time to decide which one you’d like to enter first. In many cases, it’s wiser to start with orders that protect your downside. Consider using a stop-loss order, which will instruct your broker to buy or sell a certain stock once it reaches a given price. Precautions like this will ensure that you don’t get burned when the market is on a downturn, especially if you don’t have the time to keep tabs on your stocks every hour of the day. Still, when you’re first setting up stop losses, you should make a point of keeping an eye on the market’s swing. If your price winds up appreciating up to your upper parameter, you’ll need to change the price of your stop loss order.

Maintaining Discipline

Once you’ve put a well-thought out profit/loss plan into practice, all you need to do is stay disciplined, and remember that the whole idea behind the plan is establishing strict limits on when to sell. It can be painful to see a stock keep on rising after you’ve sold it, but it’s better to sell when it’s on the way up, rather than simply waiting until you’re forced to dump the stock due to its rapidly collapsing price. Don’t hold out for top dollar if the risk is too high!

How Poor Leaders, Digital & Rules Can Ruin Your Startup

fail-1714367_1280

When you decide to embrace the startup life, you need to be aware of the obstacles that might be paving your road to success. Startups are just like any business likely to make mistakes, even more, if this is your first step as an entrepreneur. Lack of knowledge and experience are often the main reason for mistakes. Besides, making mistakes is not the worst part. Not realizing that you are in the wrong can seriously damage your business model. Commonly, in the world of startups, most mistakes come from issues related to a lack of leadership skills, a lack of digital intelligence – or the understanding to use digital technology as a growth tool – and the lack of management rules. While this might seem a little confusing at first, for first-time entrepreneurs it is considered normal not to get things right immediately. The emphasis is not on choosing the wrong path, but on not managing to change your ways on time once it’s been established that they are damaging. So consider yourself warned and dive into the core of startup failures.

Poor Leadership

Leadership failures are common for inexperienced entrepreneurs who are keen to establish their authority. Often, narrow-mindedness is the biggest enemy of success, especially as the entrepreneur refuses to seek support or advice to improve their business structure and processes. While it takes a lot of confidence to launch a business, this also requires humility to be able to listen to experts and external advisors. More often than not, a startup collapses when the entrepreneur didn’t have the right intentions behind the creation of the business. In other words, wanting to get rich is called ambition, but launching a business only to increase your income with no interest in the quality of your product or service is pure madness.

No Digital Intelligence

Digital intelligence is the ability to make the most of the digital tools to support your business growth and generate cost- and time-saving solutions. In the world of business, this can relate to a variety of scenarios. For example, a business that prefers to waste employees’ time in clients meetings instead of organizing video conferences is lacking digital intelligence and also reducing its productivity. Another common example for digital businesses is when services are not monitored through a cloud load balancer to ensure that websites and online applications are available when users need them. To put it in other words, a business that displays a server error message reduce potential customership. Providing online network continuity enables all client connections to run smoothly, even during peak times.  

Lack Of Rules

Finally, nobody likes rules, but they are essential to keep the business running efficiently. For instance, when certain employees have the right to be rude or disrespectful towards others – which could be a possible risk in a family business – can be particularly damaging to the morale and the performance of the team. Also, as most offices have developed a mentality of interruptions, where individuals have acquired the right to interrupt the work day of other employees with no regard to their tasks and commitments, it is essential to train the team to reduce interruptions. Interruptions can be varied, from an email with a cute video to an unplanned meeting, but they are all time-consuming and counterproductive.  

Want A More Efficient Business? It’s Time To Simplify!

pexels-photo-266185

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.

Release Your Business’s True Potential With Marketing Tips That Actually Work!

newsletter-2123477_1280

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.  

Taking The Pain Out of Capital Gain (And Other Taxes)

tax-time-top

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.

What Are A Startups Best Assets?

technology-792175_1280

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.

Saving Startups: The Best Ways To Reduce Your Startup’s Tech Costs

360729456_cf18b80099_b

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!

Going For Gold – How To Beat The Startup Hurdles

pexels-photo-101604

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.

The Essentials Ingredients To Real Estate Startup Success

1399994708-tech-startup-renovating-12-trillion-commerical-real-estate-industry-view-the-space-nick-romito-3

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.