For many of us, driving is a necessary part of our everyday lives. But with the average car costing us around £3,000 per year, it can be a highly expensive necessity.
However, with a bit of careful driving, the right car and the right car insurance, you can ease the cost of driving considerably. So here is our easy five-point guide to cutting the cost of driving. Continue reading “5 easy steps to cut the cost of driving”
On Monday I wrote about why cashflow is something you need to watch, however small your business may be. In fact, poor cashflow can kill an otherwise healthy business.
Since the recession hit us a few years back, all the talk has been about customers not spending enough. But if they do place orders and then don’t pay up on time, you still have a major problem. Continue reading “The answer to your biggest cashflow problems…or not?”
One of the great things about running a solo or micro business is that your accounts don’t have to be anything like as complex as they would be for a larger business. But it can be hard to know where you can sensibly take short cuts and where they could lead you into trouble later on.
So what about cashflow management? Continue reading “Cashflow management: Do ‘micro businesses’ really need to bother?”
The problem with selling anything online is that you can’t get face-to-face and tell people how your product is just what they need. For most of us, it’s far easier to help people in person because we pick up clues from their body language.
True, you can make up for what’s missing by becoming good at copywriting (that’s certainly something I’ve been working on) but there’s another option.
Video.
I know what you’re thinking…but don’t panic.
Video ‘sales letters’ are more interesting, more dynamic and more emotional than text sales letters. Best of all, I keep hearing that video sales letters simply out-convert traditional sales letters by a mile. So I had to give it a go. Continue reading “Using video to sell online: how to get started”
It seems that more and more mothers are turning to running their own businesses as they seek to balance the financial demands of having a family with their desire for career success after giving birth. In fact, the popularity of the proposition has led to the phrase ‘mumpreneur’ being coined across the pond and now over here.
Buy or start from scratch?
For most the option to buy an existing business is probably not financially or practically possible, but for those with some existing capital acquiring a business or a franchise is a tangible possibility. The most important factor when contemplating a purchase is whether the business is sound, and whether it fits your abilities, expectations and level of commitment.
If considering a franchise, be sure to have a lawyer check over the fine print. Franchises are great as they offer a business concept packaged and ready to go, often with a brand name and corporate identity included. There are other options to a franchise running along similar lines, which include a license agreement, agency or a distributor agreement. The downside to a franchise-type model is that you won’t be free to run the business as you wish, and you will usually be expected to contribute significantly to the initial start up costs, and pay a franchise fee.
Keeping it going
Once your business is up and running, or your franchise agreement is signed and sealed, the hard work begins. The most important advice to any mother running their own business is to carefully plan how to integrate your business with your family. Small businesses and families require huge amounts of time and dedication to make them a success, and of course you will be caught in the middle of this.
There is plenty of help and advice out there to help anyone starting business, this will include information on the legal aspects of running a business, including employment issues, national insurance and PAYE tax matters, intellectual property issues including copyrighting your website and protecting your ideas and logos with patents or trademark registration.
Knowing when to sell
Selling a business is a difficult decision for any owner. You may decide that the hours are no longer possible, you may be forced to change location or even decide to go back to an employed position. The most important first step is to plan your objective for the sale, and to approach a company lawyer for advice. You may decide to sell to an employee or partner, or to market the business through an agency. Getting good information early on is the key to ensuring you are able to make an informed decision on the best way to withdraw from the enterprise. The final most important factor is the timing; maximising revenue will depend on achieving the sale at the right point in the business cycle, and this is no mean feat.
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