Business Plus Baby

December 6, 2015December 4, 2015

Can you change your mindset? Yes you can!

Sometimes, the main obstacle between where we are and success is our mindset. Yet many of us think it’s impossible to change the way we feel. You may even think that by changing your mind you’re being weak or indecisive.

From childhood, there are many stories we tell ourselves as we absorb everything around us. For example, we might believe that our siblings are older, wiser, and smarter, and that we simply cannot match up with their intelligence. Or there may be a mindset of ‘thinking small’ because we think that people like us don’t achieve big things.

We all want our children to succeed, but with the best will in the world we can pass on our limiting beliefs about the world and out place in it. By working on our growth mindset, we can move beyond some of the beliefs and habits we have accumulated in our lives so far and prevent our less positive habits from being passed on to our kids. Continue reading “Can you change your mindset? Yes you can!”

December 5, 2015

Grow your business with international shipping

If you want to grow your business, allowing for international orders is one of the best things you can do. Many people think it’s going to be very complicated. But it’s not too hard to expand into global delivery. If it’s something you want to do, you have to be prepared to make things easy for your customers. They need to be able to pay for their orders and receive them in a timely fashion. Start with the steps below to help you begin offering international when you take orders online.

Make International Payments Easy

If you want to allow for people to place orders all over the world, you need to think about payments. You won’t be able to offer the service if you can’t take international credit cards, for example. You need to find a system to make it easy for customers to pay for their orders by their preferred method. You might choose to use PayPal, allowing people to use their PayPal account or to input their card details. There are other tools you can use too so that your customers can pay quickly and easily. It also helps to include the ability to view product prices in different currencies.

Organize Your Shipping

Shipping internationally can seem difficult. But it shouldn’t be that hard to add to your usual mail. You can make it easier if you can deal with everything yourself, without having to take it all to the post office. You can look at the range of services offered by USPS or consider using a courier for some deliveries. Find out how to buy stamps online by going to http://www.onlinestamp.net/how-to-print-stamps-online/. It’s easier to attach postage to all your orders if you can print stamps whenever you need them. Don’t forget to consider customs, as well as delivery times. Your customers need to know how long they’ll have to wait for their orders.

Photo credit: VFS Digital Design

Consider Offering Other Languages

Using languages other than English on your website isn’t a necessity. Many people from around the world are happy to place their order in English. However, offering other languages could help to boost your sales. If you do decide to have the ability to translate your site, you’ll have to think about SEO too. A global SEO campaign can be difficult to master, but it will help people find your site. Look at where your orders are coming from to determine which languages you should offer.

Provide Excellent Customer Service

If you’re going to expand your delivery locations, you need to offer great customer service. People from all over the world could be asking about your website and their order. As with your site, you might need to consider offering customer service in more than one language. Dealing with time zones can present a challenge, so you might consider using email support as one of your primary methods.

Think carefully about offering international shipping before you implement it. It will be more successful if you take the time to plan and organize.

December 5, 2015December 3, 2015

How could a solicitor help your small business?

Many small and home businesses are aware they need to take care of the legal side of their business but aren’t really sure exactly what a solicitor could do for them and when they need to talk to one. This infographic is a good starting point.

Infographic by www.mhhplaw.com

December 4, 2015

How to make your first trade show a winner

Since you clicked on this post, I imagine you’re about to attend or thinking about attending, your first trade show. It’s a great opportunity and one that a new business owner can certainly profit from. Whether you are marketing a new business or product, there is success to be found at a trade show. That much is guaranteed. However, there is no such guarantee that you will be the one to claim that success. Indeed, it’s true to say that a trade show is one of the most competitive environments you will encounter in the business world. It will seem as though people are screaming at the top of their lungs, just to be heard. Others will have invested as much to attend the trade show as it cost to set up their business. But fear not, because with these tips you’re sure to get the interest you want over the rest.

Photo credit

Show Before You Go

Our first recommendation is that you let people know that you will be attending the aforementioned trade show. It’s important that you use your social media accounts and other online resources to your advantage here. Tease your followers with what you might be introducing to the market or your business idea. If you do this, you just might catch the interest of some of the investors who plan to attend. It’s never too early to start marketing, so I suggest you do this even a year in advance of attendance.

Market Before You Gets There

Like I said, there’s nothing wrong with getting a good head start. When the trade show is just a few months away, you’ll find that billboard space is for sale around transport links. If you have the funds, it’s good idea to invest and buy these up. That way, you can market to investors before they reach the trading floor. If you do this, you can get ahead of the competition although you might look for cheaper methods of marketing.

Designing Your Exhibition

It’s important that your booth at the trade show stands out from the rest. If it just blends into the background, you won’t be able to gain the attention of attendees. However, I am aware that you will have limited funds to spend on your stall. That’s why I suggest that you invest in banner designs like the Grasshopper. This is a cheap banner that is still strong and large. It comes highly recommended to those who are attending a trade show on a budget.

Use Free Merch

Another tip I suggest is that you buy some free personalised merchandise. You can purchase this in bulk online at low prices. You can bet a number of other people will be using this marketing concept but it still won’t hurt to give investors something that they can take away with them. Try to make the design of your personalised merchandise unique and an item they would want to use or wear.

Take these tips on board and we’re sure your first trade show will be a huge success. But remember if you do get interest, don’t wait. Seize the opportunity before they move onto the next company.

December 3, 2015December 3, 2015

Everything you need to know about funding your business

Photo: Philip Taylor

Launching and growing a business will always require money in some form. There are some business models that you can start with minimal or even no capital. But it’s not always possible. Securing funding for your business idea can be difficult. However, there are a number of options to consider and avenues to explore. If one method of funding doesn’t work for you, you can try others. Many people go straight for a bank loan, but that’s not your only option for funding your business. Whether you’re starting up or trying to grow, think about using one or more of these options. Remember, you don’t have to stick to only one.

Dig into Your Savings

If you have some private savings, you could use them to fund your business. Of course, it means you will no longer have the money for its original purpose. Perhaps you weren’t saving for anything in particular. And you’re confident that you’re going to be able to replace the money. It’s cash that’s already there for you to use, and you won’t have to spend time trying to get money from other people. However, there are downsides to using your own savings. You might not have much to start with, and once it’s gone, it’s gone. Plus, you’re taking away your safety net, which can be vital when you’re trying to start a business. If you’re going to use your savings, it can be best to do it when you have another job to fall back on.

Hit Up Friends and Family

If you’re lucky, you’ll have friends and family who believe in you. And, crucially, they have a bit of money to spare that they can toss your way. You might have one family member who has a sizeable amount of cash they’re willing to loan or even give you. Or you might ask all your friends and family to give you a small amount. But you need to convince them that it’s worth it to invest in your idea. What are they going to get in return, apart from to see you succeed? You might offer them shares in the company or a gift to say thank you. A loan from a family member can better than a bank loan, with lower interest rates and payments. However, be careful that you do everything officially and draw up a contract. If you’re not careful, borrowing from family can get messy.

Traditional Bank Loan

One of the most common routes for people to try and secure funding is the bank loan. If this is an option you want to explore, you first need to have a solid business plan. You’ll need to present it to the bank and convince them that you’re going to be able to pay back the loan. Securing a bank loan for your business can be tough, so don’t expect to be handed one right away. You need to put a lot of work into your proposal and show that you’re financially responsible. Many potential business owners find themselves unable to get a bank loan. So don’t despair if you don’t succeed. There are other options.

Photo credit: Tax Credits

Some methods of raising capital are becoming more popular, thanks to the internet. Crowdfunding is one of the things that people are using more to fund all sorts of things. Some people use it to pay for a creative project while others crowdfund the launch of a new project. The great thing about crowdfunding is that it’s not a loan. Usually, people give you however much they want to, and you give them something in return. People put their money into various projects just because they want to see them succeed. You can offer a range of incentives to get people to give their money. They could include little goodies or expensive products.

Angel Investors

Angel investors are also a popular way to fund your new business or to start growing it. However, they can sometimes be difficult to find. It can be especially hard in some locations compared to others. You may find that it’s easier to get funding if your business is based somewhere with an active startup community. Your business angel could be a friend or acquaintance you met while networking. One of the bonuses with using an angel investor is that they don’t just give you money. They can also help you by providing you with guidance and advice to grow your business. You have their money, so it’s in their interest to help you succeed.

Securing a Business Credit Card

Another way your bank can help you with funding is by providing you with a credit card. It can help you to get started and to grow your business until you’re in a stronger position. If you’ve tried other financing options, a start up business credit card could be a good solution for you. It can help to bolster your finances and can earn you rewards too. However, there are risks to consider if you want to take out a credit card. Firstly, banks will look at your personal credit information to decide if you should have a card. If you don’t have a good record, you might not have much of a chance. Banks will usually ask you to provide a personal guarantee. That means that you will pay off any debts the business can’t repay. However, some banks will waive the agreement after you’ve been in business for a few years.

Photo credit: Omer Unlu

Bank Overdrafts

Your bank can also help you out by providing you with an overdraft. Of course, it’s unlikely to be enough to fund the launch of your startup. But if you have a sizeable overdraft it can be an excellent way to boost your funds when you need some quick cash. Perhaps your cash flow isn’t as synchronized if you need it to be. You can have funds to take out while you’re waiting for more money to come in. It may not provide you with vast amounts of cash, but it will keep you going in the leaner months. Remember that there will be interest to pay, however.

Business Grants

You might be able to find some business grants that are available to you. These can come from government agencies, charities, and other organizations. To access them, you would usually need to meet certain requirements. They might be looking at you as a person or at your business model. For example, you might belong to a minority that needs more representation in business. Perhaps you’re hoping to launch an eco-friendly business. You could be competing with lots of other companies and business people for these grants. If you want to have a chance of securing them, you will need to be confident about your business plan. You should be able to explain it well and talk about why you deserve the funding.

Private Equity and Venture Capital

Using a venture capital or private equity firm isn’t the easiest of options for a startup. They usually don’t deal with small amounts of money. So they’re more likely to work with a growing company. If you have big dreams, and your business is already on its way up, it could be a good option for you to continue expanding. It can be very hard to get them to invest in your company, but that doesn’t mean you can’t convince them. You’ll need an awesome business plan to show that you can grow quickly. You need to prove that you’re worthy of investment. You need to show that you’ll be making them money.

Corporate Venturing

You can also consider using corporate venturing. An established company can incubate you to provide you with the funding, advice, and support that you need to grow. Using this method does mean that you won’t have full control over your business. However, this is true to some extent for many funding models. You need to make sure you find the right firm to work with. If you can discover someone that suits you, they could provide you with everything from office space to mentoring.

Growing Organically

Some businesses can get started on very lean funds. If your company can begin with little or no capital in your home office, you can use your profits to support your growth. All it takes is funneling the money you earn back into the business to help you expand. It’s a good way of funding a company such as one offering professional services. Your primary product is your skills and experience. So you don’t need funding for manufacture or other expenses. It’s not the method that’s going to help you grow extremely quickly, but it can be a safe way to help you get off the ground.

You have lots of options to choose from if you want to fund your new or existing business. Don’t forget that you aren’t limited to only one method of funding. You can combine several of them to build capital.