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Over 500,000 new business start each year. One third fail within the first year and more than half within 2 years. The biggest reason is cash, or lack of. In most cases, this will be because of poor planning from the start. Cash is the oxygen of a small business and you cannot afford to not get it right – from the start. Most businesses that fail due to lack of cash, is because of poor planning within the startup phase.
Read moreI’ve seen many small business owners go almost crazy stalking their competitors, thinking of them as the enemy. This should not be the case. They are the reason you’ve created an innovative solution more attractive than theirs. It keeps costs competitive and ensures your customers get great customer service.
Read moreSo, we’ve got an idea, we’ve done some Market Research and we’ve looked at the right Business Models. But who are we going to sell to and how?
First, we need to establish who we are selling to, as that is likely to at least give a pointer on how we sell to them. That’s what we’ll be looking at in this post.
The vision for your business is a vivid mental image of what you want your business to be in the future, based on your goals and aspirations. Having a vision is important as it will give your business a clear focus, and can stop you heading in the wrong direction.
Whether for you that means being a market leader, creating a world class company that operates across the globe, winning business/industry awards or just making a massive pile of cash.
The answer is simple; right now!
As I explained in my earlier topic, Can you handle being a Business Owner, starting and running a business is tough. Not can be tough, it is tough!
When the time comes to make a decision on when you start, I guarantee you will be able to list at least 10 reasons why now is not the best time to start.
First question – what is a business model? It’s not just a word a lot of people in business use to try and look smart. A business model explains what you’re providing your customers (relieving a pain, making life easier, fulfilling a need etc), why your solution works better than competing ones, how and when they pay for it, and how to maximise profits. Basically it’s how the whole damn thing works.
Read moreOne of the most common questions we are asked by a business owner is ‘what can I claim?’. We summarise the main points in this blog post.
Read moreMarket Research has been the reason for many lost hours, lost £’s and lost souls for budding entrepreneurs. It’s a task I believe is almost taken too seriously and has too much importance placed upon it. Make sure you don’t waste your time and, most importantly, budget on it.
Read moreThe minimum contributions you and your staff pay into a workplace pension will increase from 6 April 2019.
Read moreMaking Tax Digital (MTD) is the Government’s new initiative to move all business and personal tax affairs online. The first phase of this comes into play shortly for all businesses with a turnover above the VAT threshold of £85,000. For all VAT periods starting on or after 1st April 2019, businesses must now keep digital records and file their VAT Returns using compatible software, such as Xero.
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