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How to run your business

How to grow your business – find new customers, set up your own website, and make your small business appear ‘big’!

Your new business may have a promising product and high-value clients, but if they don’t pay for your goods and services, then your venture could quickly fail. Therefore managing your invoicing is a vital part of running any business. Having a comprehensive understanding of what needs to be included in an invoice and common billing mistakes can also benefit your cash flow.
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There may be a time that you have to say goodbye to your small business, whether it’s because you’re a serial entrepreneur and want to make money from your successful business or you simply want to get rid of your struggling business. The key to successfully selling your business is to devise an exit strategy. An exit strategy will help you decide how much money you can make from a profitable business or how much of your initial investment you can retain from a struggling business.

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When you are a small business owner, going international and expanding your business into the global market may be a distant dream. However, if you’re hungry for the international success, then you will need to get prepared for the challenge ahead. Your home country will seem small compared to the big unfamiliar global market, and you will be leaving behind those home comforts and familiarity, therefore you will need to tread carefully. International growth can be both daunting and rewarding and you will have to see if the positives outweigh the challenges.

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Buying an existing business may be easier than starting from scratch and it may be ideal if you’re new to entrepreneurship. However, as with any business, running it is never easy. Being a small business owner comes with its own hurdles, whether you are starting from scratch or buying an already existing enterprise. To make sure that you don’t get yourself into unexpected problems, make sure you consider all options and research fully to make an educated decision.

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Often success is measured by increasing profits of a business, if the profitability isn’t increasing, it can make a business feel stagnant. You don’t have to make dramatic, big changes or cuts such as increasing prices or laying off staff. There are other ways in which you can make small changes that will benefit your business and increase your profits. Being a small business owner, if your year-on-year profits aren’t increasing, or even worse are decreasing, then you will seriously need to look at different strategies to increase your profits.
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When you think of New Year’s resolutions, you probably think of failed attempts at getting fit or travelling more. However, New Year’s resolutions can actually be useful and you can even set some that you can achieve. The whole idea of a New Year’s resolution is to make a change that will have a positive impact on you and your business, so why not take the opportunity to do so.

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With the year coming to a close, it’s time to look back and reflect, as well as looking ahead. 2017 has been a great year for small businesses which have thrived and stood strong despite uncertainty bought on by Brexit. From the Autumn Budget being small business friendly, to the huge success of Small Business Saturday, small businesses can allow themselves to be optimistic about the upcoming year.

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Good customer service can almost always be a deciding factor of the success of your business. Building a client base that is loyal can really help your business thrive. Therefore, providing customer service should really be a prominent part of every business’ goals and objectives. Proving a good service means that you can bring the customers back as well as sending them away happy and satisfied.

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In business we need to give successful presentations and pitches. I’ve realised through experience that focusing on content alone leads to failure. I’ve learned the hard way. Over the years I’ve given countless presentations to business audiences small and large and also spoken to ten thousand. As a result I now have my own methodology which I will outline for you here, writes Bret Freeman from Toastmasters International.
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The self-employment sector grows continuously in the UK. More and more people are taking the plunge of becoming their own boss and it’s not an easy decision to make. To leave the security of being an employee, which provides regular work and pay checks, it can be daunting. Being your own boss and running a business can be glamorised, but in reality it can be quite difficult.
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You might not even be aware that the power that comes out of your plug sockets and other outlets can vary in quality. It is true that there are strict rules governing the quality of power to ensure that individuals, businesses and organisations receive consistently high levels of power. However, sometimes errors can occur within systems that bring power quality down significantly.

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Running a business is no small feat, though with the right finances, support, and expertise, most challenges can be overcome. But while small and medium-sized enterprises (SMEs) owners might possess proficiency in their specialist field, how do they secure sufficient cash flow and support to setup a long-term and prosperous business model? These are the biggest challenges businesses faced in 2017 – but technology is making it easier to solve them.

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One of the main balancing acts over the festive break is ensuring that as many staff as possible can have time off to enjoy Christmas and New Year with their families, whilst still maintaining customer service.
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The end of the year is often a quiet time for non-retail focused companies, as staff and management look forward to Christmas and the New Year and begin to wind down in anticipation. This can mean that big decisions are left for January. By and large this makes sense; there’s little reason to institute changes which won’t really go into full effect until January or beyond.

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Besides your usual marketing strategy, have you ever thought about alternative ways to drum up interest in your business? Holding a workshop to teach others your area of expertise could be just what you need to capture a new audience in your field, as well as meeting new people that could soon become colleagues.

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Perhaps the greatest challenge facing any young tech company trying to grow its business, is to ensure that the enterprise is operating to the best of its ability – efficient, dynamic and prepared to make the most of market opportunities.

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As children, there was always time for naps, cloud-watching, or simply to lie around and just ‘be’. But as business owners it can feel as though there simply isn’t the time to kickback, explore, play, and dare we say, go on an adventure. There is always more work to do on the business!

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Have you invested heavily in your website only to find that those leads you thought would be flowing in, are simply not coming?  You are not alone. Tim Butler, the founder of Innovation Visual gives you 10 of the fastest ways to improve the performance of your website.
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Small business owners often don’t delegate when they can and when they should. Lack of delegation in a small business environment can lead to the business owner being overworked and over-stressed. Taking on everything may seem natural to you as a business owner and you may think it is productive, however doing so can really hinder your chances of growing and developing your business. Therefore, practice and take time to learn the art of delegation and its many benefits.
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Getting less than 7 – 8 hours of sleep per night on a regular basis can have severe repercussions for your health. Your brain functions, your mood and the way you interact with people will be affected. Those are all vital aspects for small business owners, so the smart thing to do would be not to lose sleep.

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