Author Stefan Töpfer

Top 5 Tips for Business Credit Cards

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Top 5 Tips posts from the SME Blog are always full of hints and tips for small, home & micro business owners.

1. Using a credit card is actually a sensible thing for a business to do, provided they are going to be paying it off in full each month. Doing this helps to build a solid credit history.

2. The card should be used for small purchases at first to allow you to improve your credit rating. As your credit rating improves you will be allowed to borrow more money.

3. Don’t pay for too much all at once on credit. Plan your purchases carefully and stagger them across multiple months if possible.

4. If you must buy things on long-term credit, shop around for a good interest rate and don’t be afraid to chop and change lenders to get the best deal.

5. Make sure that any employees who will be able to buy things on the company credit card understand what should be paid for on credit or upfront.

Taking over the (virtual) world

The online space is very competitive and businesses can sometimes struggle to be seen. Your business probably can’t afford to buy any physical land, so why not grab yourself some virtual land and start taking over the map one grid at a time?

That’s exactly what the people at Landjacker are allowing businesses to do. They have a giant virtual map on their homepage gridded into 6×6 squares and the more squares that your business purchases, the easier it will be to see.

But the great thing is that Landjacker is not like other forms of advertising, because there is the potential to earn your money back and make a profit on top! If someone wants to buy your land, you will get your money back and earn a profit of at least 10%. So it is a win-win situation each way, because you will either make a profit on your land or have your advert displayed there forever.

If you get in early your land is not available for “landjacking” in the first two months and your business logo will be displayed in the Original Owners page for the life of the site. Why not go and grab some land today?

Top 5 Tips for London 2012

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Top 5 Tips posts from the SME Blog are always full of hints and tips for small, home & micro business owners.

1. The London Olympics are expected to cause travel chaos for small businesses and the general public this Summer. Make sure that all your vital journeys are well planned in advance and that you identify potential alternative routes if you get stuck.

2. Aside from vital journeys, it isn’t advisable to actually travel anywhere in London right before and after Olympic events. You can also expect to see increased traffic in Hertfordshire as well because all the shuttle buses going to the venues will be departing from there.

3. Keep your customers informed. Let them know that you will still be open during the Olympic period. Now would be a good time to start up a website for your business if you don’t already have one.

4. Make sure your deliveries and other services are not going to be affected by the events. Keep in close contact with suppliers so you know what is going on with them.

5. Planning is important to make sure you are adequately prepared for the festivities. Overall, the Olympics are likely to be an excellent opportunity for many small businesses to increase revenue as long as they are prepared.

The Easiest Customer May Also Be The Best

I love reading Seth Godin’s Blog – you should click over to it, it’s worth it – he has a way to extrude the essence out of all kinds of stuff and topics.

But sometimes he gets it spectacularly wrong, at least in my opinion. In one of his posts he asserts that:

The easiest customers to get are almost never the best ones.

If you’re considering word of mouth, stability and lifetime value, it’s almost always true that the easier it is to get someone’s attention, the less it’s worth.

That is looking at customers from a sales man point of few, which is so last century. To me, there is no connection between ‘a customer’ and ‘getting someones attention’!

You should focus on customers that need what you have to offer, means you don’t have to sell to them.

In that scenario, the easiest customers may just be the ones who understand and need your offering and don’t need selling to.

Top 5 Tips for the New Tax Year

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Top 5 Tips posts from the SME Blog are always full of hints and tips for small, home & micro business owners.

1. If you found the tax deadline to be very stressful, it is likely that you are doing something wrong throughout the year. Use this opportunity to get more organised and get your books in order – try to post transactions daily to your accounts.

2. Halfway through the year you should conduct a review of your books to see if everything is in order. Ask your accountant if you want an expert opinion too.

3. Remember to adjust the value of your business assets to account for annual depreciation.

4. Consider introducing some employee benefits like health insurance or childcare subsidies. Not only will they be made very happy and less likely to leave, you should be entitled to tax breaks.

5. Update your estimated totals for the previous year and replace them with the actual figures now they are known.

The Secret Behind The Success of Group Buying

In recent years, businesses have been exploring new ways to market and sell their products and services. Group buying is a phenomenon that has caught on in the last few years and it doesn’t show any signs of slowing down in the future. What exactly is group buying and why is a good for both buyers and sellers?

Group Buying

The idea behind group buying is that a seller can afford to sell a large number of products at a lower price if it knows that enough people will buy. Because of this, there had been a number of group buying services emerge in recent years such as Groupon

With a group buying arrangements, the group buying service approaches local merchants and asks if they have any products that they would like to sell in large quantities. They negotiate a deal in which the product can be sold at a deep discount. In many cases, the product is sold at half price or even at a lower price point. The group buying service then sends out a message to a large list of subscribers providing information about the deal. Subscribers can then purchase the deal directly through the group buying service. They will be given online coupons or a promotional code to use when they visit the merchant. The group buying service pays the merchant directly for the deal.

Advantages for Sellers

This type of arrangement can be very beneficial to merchants who decide to participate. In many cases, merchants sell their products at very high margins so that they can generate profits. Because of this, they know that if they had a large order, they could sell the same products at a much lower profit margin and still make money. In these cases, the merchant can make a decent amount just by offering a deal through the group buying service.

Another reason that these deals can be so beneficial is because many consumers buy other things while they are visiting the merchant. For example, if a restaurant offers a $20 gift certificate for $10, the customer probably won’t just spend $20 at the restaurant. Instead, he may spend $30 or $40 in one visit. When the deal is to a retail establishment, the customer may end up buying additional items that are not included in the deal. These items can be sold at regular price and the merchant can make a good profit margin on them. This means that even if the item sold through the deal isn’t that profitable, it can generate plenty of business in other ways for the company.

In some cases, these deals can be a good way to create brand awareness. Instead of spending money on a radio ad that may or may not bring people in the door, you can offer a deep discount through these group buying services. This will bring people in the door and let them see what you have to offer. If customers like what you have to offer, they will probably come back for more and pay full price next time. This can be a very productive way to bring in loyal customers.

Advantages to Buyers

The obvious advantage for buyers is that they get major discounts on many of the things that they need to buy anyway. These services typically work out deals with merchants in buyer’s local areas. This means that when you subscribe, you can expect to get some great deals on food and things that you would possibly need to buy already. The deals are usually divided up by geographic region, so you don’t get a bunch of deals that you cannot gain access to.

The online deals are usually not a sales gimmick. They actually do represent a deep discount of somewhere between 50 and 90 percent off.

Group buying is a process that has changed the way a lot of companies do business. It will be around for the long-term as more companies see the power in this promotional model.

GUEST BLOG: This informative business article was provided by Victor Daly.

How Cloud Computing is Revolutionizing Project Collaboration and Gaming

As technology has advanced over the past decade, cloud computing has revolutionized life for both businesses and individuals. Cloud computing allows users to store data, process information, and retain settings on a central server.
This allows mission-critical data to be stored in a safe location. This prevents the accidental loss of data through fire, flood, theft or electrical glitches.

A Little History of the Cloud

Cloud computing uses the internet to transfer files and data. There have been several different iterations of cloud computing over the past decade. Early cloud computing allowed users to store a backup of financial software on a central server. Since the early internet was much slower than a modern internet connection, it often took a significant amount of time to transfer files. A backup of local data was usually made during the night.

Modern cloud computing benefits from broadband internet connections. A modern consumer-oriented internet connection can transmit high-definition images and audio in real-time. This allows users to stream movies, audio, games, and other information quickly and easily.

Many services allow users to store a backup of all their files and folders on a central server. These services can mirror a local hard drive in real-time. In addition, it is possible to create a local copy of data stored on a server.

Benefits of the Cloud in Business

SIP Trunking

Businesses can leverage the cloud by communicating over IP, also known as SIP trunking. Allstream SIP trunking, or from similar providers, can be a great way to empower cloud technology as it allows you run all your data and voice traffic – local, long-distance and inter-office – on a single IP backbone.
 
Project Collaboration

A cloud drive or shared folder will allow multiple people to access the same resource. This allows for excellent collaboration on shared projects. One of the challenges of project management is maintaining a set of shared resources. It can be difficult for multiple people to work on the same presentation, document, or data set. Cloud computing allows multiple users to view and edit files at the same time.

In addition, some programs allow users to see the changes other users are making in real-time. Individuals can provide real-time feedback while another individual is working. This can create a positive environment for brainstorming, nurturing talent and proofing documents.

Gaming Industry

The cloud is also used by video game and high-end graphics companies. It can be expensive and challenging to process high-end graphics on a computer. Cloud computing allows users to render graphics and other processor-intensive work on a central server. This can be a valuable tool when creating models, rendering an animation, and computing a complex set of equations.

Gamers can also take advantage of the cloud, which allows users to play games over an internet connection. A gamer purchases a small set-top box that connects to his or her television. This set-top box acts as a video receiver with an internet connection. An audio and video stream of a game is transmitted over an internet connection, where users can see it on their television. Inputs from a user are transmitted through the set-top box.

New advances in computing technology have revolutionized life for both businesses and individuals and will continue to respond to the demands of an ever-increasing tech-driven market.

GUEST BLOG: This helpful article was brought to you by Steve Williams.

Is Your Accountant A Bean Counting Historian?

These days we hear much about business mentoring and business consultants and how important it all is to the survival of all SMEs/SMBs.

I can’t help but wonder where it all went wrong?

Business has always been surrounded by advisors, who could have helped, their accountants. Why this need for all this mentoring and consulting?

Reading a story on the WinWeb Business Blog and following discussions in the LinkedIn Accounting Group like “Do Accountants Still Matter?” and “How do you become a Trusted Advisor both within a company and to external customers/clients?”, you know something is very wrong!

SMEs/SMBs need support from many quarters, but financial planning has to rank as one of the highest. Why are so many accountants hiding behind their desks and tax calculators, instead of going out to help their clients to survive and prosper? It would be good for their own business, too. Is the fascination of a beautifully completed tax return so great, that accountants forget about the business future of their clients? Are they actually working for their clients or are they working for the IRS or HMRC?

Every business owner needs to look for more than a bean counting historian, when it comes to doing your financial books and tax returns. History will teach you lessons, if you understand how to read your companies financial history, that is! Learning these lessons and planning for the future accordingly, needs a ‘working’ relationship with your accountant.

Do you have a ‘working relationship’ with your accountant? Or are you in the accounting profession, how do you work with your clients? Let me know…

PS.: It is good that some accountants are beginning to ask the right questions, as mentioned above. Is there hope yet?

Top 5 Tips for Small Business Collaboration

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Top 5 Tips posts from the SME Blog are always full of hints and tips for small, home & micro business owners.

1. Make sure that you set achievable goals for your team to give them something to work together for.

2. Identify the skills of your team and organise workloads so that these strengths are highlighted.

3. Set a tight schedule for collaborative projects and do everything you can to keep the team focused on completion dates.

4. Team-building exercises and social events are good ways to improve the bonding of the team and help them collaborate better.

5. Use software and devices that make it simple for your team to communicate. Most of the problems that occur with collaboration only happen because of poor communication.

Exciting New Partnership Options for Your Small Business

My company WinWeb has launched a brand new partner network that could help you to build an additional revenue stream for your small business.

If you would like to sell our products and services to your existing clients you could easily increase your business earnings by receiving ongoing commission on everything you manage to sell them for as long as they subscribe!

This is a great opportunity for all my business owning readers to supplement their income by reselling our products, particularly for those in the IT sector.

In addition, I am excited to announce that for the first time ever we have opened up the Business Cloud to partners who want to become part of the Development Programme. This will allow them to collaborate with us to produce new software and extensions tailored to their business or a particular market niche.

Find out more and apply to become a WinWeb Partner today.

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