Category: Tips and Tools

When it comes to needing to keep things in a row, your finances are usually the number one priority. Your money isn’t a sitting duck, but it does need as much looking after when it comes to being out of the water: you’re running a business, and you’re not used to it! You’ve got to cope with business costs, trimming off unnecessary parts of those, making sure you’re making a profit by the end of the day, and that all your employees are paid on time and in full. Sounds like a lot already, doesn’t it? If you’re not skilled in the art of accounting, or even having to look after any money that isn’t your own, this is the post to get you started. Here’s some quick tips and tricks to show you the ropes.

Get Your Needs Understood

Your new business needs money, and you don’t have the money! You can try and make the money yourself, but it will take too much time and won’t have the right payoff. So, that means you’ll have to turn to loans. Don’t worry, they’re not as predatory as you think! Try a credit union, as your needs will be met first and foremost by one. Think of it as a bit of a secret weapon in this wide world of corporate ownership.

Using something like a credit union would go a long way in helping you make sure you have all the funding needed when you first startup, as they can be a lot easier to tailor towards you. They’re smaller than banks in their financing ability, but that’s what you need to make sure you’re not paying unnecessary fees you didn’t even know existed, and seeing as they’re usually more local, they’re a lot more accessible.

Hire a Professional

So of course this is going to cost extra money at the end of the day, but when you desperately need to make sure your books are balanced and that you’re on track for your end of month targets, it’s going to be worth it. You don’t even need to hire an accountant on a permanent basis, and outsourcing is always there when you need it. With this, you can find someone who properly fits your business model, and build up a good reputation amongst the temping community.

An alternative to this is to try out a helpline when you need advice. Looking into accountancy, audit and tax skills for just a bit more security when it comes to coping with your financial records means you’ll quickly come to terms with everything you have to do. If you think you could fit it into your days, make sure your schedule has some time dedicated to studying the ins and outs of the financial world.

Your finances are always going to be important to your business at its core, so don’t let them fall by the wayside. Focus on everything you have to do as a unit, and treat everything equally!

Image: Timisu

 

 

Work in business car sales? It can be incredibly difficult to hit your targets and maximise profits each month and even the best salespeople have a dip in form from time to time. The best way to maximise profits and have a lucrative career in this field is to use all the tips, tricks and techniques to close deals. Another important, yet sometimes overlooked, aspect is to be fully aware of the different consumer markets out there – what works on one consumer will not work for another.

Consumer Markets

This means that you must be aware of the different markets and how to close deals for a range of consumers. Customers will have different requirements, budgets and tastes, so you should be aware of different groups and how you should approach selling in order to maximise profits and close deals. Preparation is the key to success in this industry, so read on for advice on different markets that you will encounter as a car salesman or saleswoman.

Young & Or New Motorists

Young drivers, or those that have only recently passed their test, are a key market. These consumers will be looking for their first vehicle, so they will be excited and likely to have many questions (they are also likely to have a parent or similar figure with them). Positivity is key with this group, but often they will be shopping for the cheapest cars on the lot and ones which do not cost much to insure and run. Always remain friendly yet confident when interacting with this market.

Professionals

Professionals tend to have done their homework and (typically) will be looking at slightly more expensive and stylish models. Although they know what they are looking for, they can be a tricky market to crack as they understand how the industry works and may look to bring the price down by haggling or comparing prices. This is why confidence is key with this market.

Families

Families tend to shop for large, reliable and safe vehicles. Knowing how to communicate to parents and considering their children is crucial for this market, so you must be able to put yourself in their shoes. Being friendly but also showing your expertise can put you in the driving seat for negotiating and picking the right car for their needs.

Pensioners

Older motorists may need advice in selecting the right vehicle for their needs, so you should always listen carefully and be friendly in your approach. Build a rapport and observe what the best car is for each individual customer, but if they have a particular car in mind and have done their research then always look over the vehicle with them.

Disability Access

It is vital that everyone working in car sales needs to be aware of those that require disability access/options and can cater to their needs. Specialists like Mobility Solutions have a wide range of wheelchair accessible vehicles (WAVs) that serve an important purpose. A sound working knowledge of this industry, the Motability Scheme and how the car’s work allows you to confidently help this market to find the right automobile for their particular needs. Thanks to the many excellent adaptations and technology in modern-day vehicles, there is an increasing number of motorists with a disability passing their test and joining the roads.

These are the main consumer markets to be aware of – as you can see, it is about adapting and connecting with each group. You must also always be confident, show your knowledge and listen to their particular needs. Being able to change your approach based on the customer allows you to connect with the consumer and maximise your sales, as well as make you an observant, thoughtful and personable salesperson.

Image: Burak Kebapci

 

Career choices can be both tricky and simple to make. When it comes to changing your entire model however, that can be a real upheaval to struggle with! Your life can be turned upside down if you go in too fast too soon, and there’s a lot of planning to start off with. So in the same way that you can easily decide to become a freelancer on a whim, you can easily decide you want your own business (and the two are different after all). However, do you have anything other than your idea to backup your plans? If not, this is the list for you to make sure you’re on the right track.

Are You Satisfied with Your Current Job?

Starting your own business is going to be tricky if you have nothing to fall back on in terms of finances , so make sure you haven’t already quit the job you have! Secondly, is the job you’re working something you’re happy with?

This is something that can be quite confusing to think about. If you’re not looking forward to going into work everyday, or you’re not receiving the results you want from your daily grind, leaving your position might be the right decision. But I remember getting so much out of my job when I first started? If all you have are memories to your name, and you’re not experiencing the same payoffs in the here and now, it’s time to work on that business plan you have in the back of your head!

Can You Read the Statistics?

The long and short of it is that statistics let you know how you’re doing in your business. If you’re confused at the prospect of your profit and loss, or you can’t read the monthly data table of what you’ve achieved in the past few weeks, you’re going to be at a loss.

Yet, it’s not the end for your business dreams! Look into some tableau training to make sure you’ve got all the advantages you can for running an entire company all on your own, as this won’t take too much out of your schedule whilst still being incredibly informative. It can even be a good way back into a traditional career if you find your own business isn’t the route for you.

Do You Know all the Risks?

Running a business is always going to be risky, and that is something we all know when we think about starting our own companies. However, do you actually know the details of what you’re going to have to deal with?

Risks aren’t something you’re always going to fear of course, and a lot of risks are those we can use to our advantage. But knowing the general trends in leadership challenges and financial backing is going to be the number one thing to letting you know that you’re ready.

Look into some of the skills above to make sure you’ve got business under your belt!

Image: Pexels

Cash flow

The key to encouraging a healthy cash flow is making sure you know how to run your business effectively and make the best purchases possible for you. There’s often so much in a business’ operations that can be optimised, which means there are significant amounts of cash to be saved! It’s important that you don’t ignore these opportunities when you have them and invest in an upgrade to your revenue. You should be prepared to make investments when it comes to these changes, as some of them are likely to cost you at first; but you shouldn’t let that be a factor to put you off because you’ll be making more later on.

Workplace

There’s a lot in the workplace that can factor into how well a business is doing, and it’s important that you try to make the best of what you can get. First off, you should be looking at your location, and how it’s affecting what you do. If you run a store, is it in the right location for you? While you might not have been able to afford better locations before you started up, you may be able to afford to make that change now that you’re making an income; in which case that upgrade can be a great investment. You don’t have to worry about how you’re going to get all of your equipment there, either. You can invest in furniture removalists to deal with your possessions; which makes the whole process much more efficient. The reason you might want to invest in these professionals is that you have to consider how much time it will take you to move everything, and how long it will take you to get up and running again.

Outsourcing

Outsourcing work is a very common practice, as it can bring so many benefits to your business. You don’t risk having to go and hire employees for a job they might not be so good at, which you may even have to train; instead, you get the quality that the third-party business has a reputation for, so it’s something you can trust right off the bat. Also, you likely won’t need to pay as much for their service as you would a full-time employee. There are many fields in which you could outsource work to. However, it would depend on what kind of operation your business runs. Take tech support, for example. It might not be something you need for a full-time period, so your demand for it would not require an employee working for you.

Advertising

Advertising can be very costly for businesses, especially when they don’t know exactly how to pinpoint their audience. Using online advertisements are known to be very cost-effective when it comes to finding customers, as it almost guarantees you that you find the people with interest in what you have to offer. You may have noticed that when you browse sites like a social media, you  see adverts for things that you’ve searched for or shown interest in in the past, this is because of your browser cookies. This is effective for businesses as you can pay to have your advertisement shown exclusively to people with interest in your product; which costs much less than advertising to everyone.

You can also use social media as free advertising for your business, which can  save you significantly. If you set yourself up an account on multiple social media platforms, you’re likely to get yourself a lot of exposure when you keep on posting. Not only is this an opportunity for you to advertise freely, but you also get a direct form of communication with your customers. It’s a great way to get feedback, and an excellent way to improve customer reputation. It’s true that it takes time to manage these accounts, so you may want to assign it to a trusted employee. Don’t trust just anyone with this role though, as they will be representing your business to many out there who will see it, and you want to make sure they are going to do the best job possible. Some businesses often interact with customers in a fun and friendly way; which can even bring your more popularity.

Image: Pexels

Don’t let your business be a victim to frivolous spending, there are many out there who are actively losing money due to these flaws. Take some time to investigate your operations every now and then to see what can be improved, some of which can change the further on you get in the market.

 

Staying in business today has become quite complex and difficult. For one, there are a lot more companies fighting over the same “piece of the pie”. Do your research and you will find that there are hundreds of companies offering basically the same products and services. How to choose? Who to choose? And the least innovative providers, those who do not know how to market themselves well, fold, as they could not generate any interest for themselves from the market – website, flyers, and all.

Marketing your company in the age of the Internet is quite easy. All you need is a website, an SEO expert, social media accounts for promotions, and voila! The world is supposedly your oyster already. But then again, to be seen is one thing, to be considered as a potential business partner is another.

Winning the Battle of Projection

Websites are a dime a dozen. There are a lot out there that look haphazardly done. There are those that look like all the other forgettable websites. Their common denominator? They are not professionally made or if they seem they are, they lack that certain “oomph” that make their readers want to stay and browse some more. There is definitely a lot to be learned about the power of projection.

Rule of thumb in corporate marketing – pictures first before words. It has been scientifically proven that people first notice pictures than words. The secret then is out of the bag. Invest in pictures and let them tell the story of who you are and what makes you stand out from the rest. In other words…project!

Power Photography: Where Perception is Everything

Do you want to communicate teamwork as a recipe of your success? Stage a photo with your team suggesting a lively brainstorming activity. Do you want to be seen as a company that values employee growth and development? Snap that candid shot in training! The pictures, if cleverly done using the right lighting, angles, and vantage points, will tell those stories for you.

Power photography is a valuable tool through which you can communicate and engage your website visitors. It can tell a compelling story of grit, character, passion, excellence, and even corporate social responsibility – characteristics and values that are worth projecting if you would like to be considered as a legitimate player in your own industry.  Always remember, perception is everything!

You may choose to harness that budding, creative photographer in you by wielding those almighty smart phones and taking snaps by yourselves or, and if your budget allows it, engage the services of a business photographer. The investment is truly worth it!

It is never too late to win the battle of projection for your business. Power photography is all it takes. What are you waiting for? Take a pose…PROJECT!

Image: Free-Photos