Category Sole-Trader

Entries 36 Total

Why educate women – isn't it a waste of resources?

Apr 16, ’08 10:01 AM
Author Stefan Töpfer (Editor) Categories Comments, Employment, Entrepreneur, Freelancer, Home Business, Lifestyle, Personal Business, SOHO/SMB/SME/Micro, Self-employed, Small Business / SOHO, Sole-Trader, Work/Life Balance, do a reality check

When my wife went to university in London in the eighties one of her professors was of the opinion that the education was wasted on women, since they would leave university, get married and have children. While nobody says these things anymore in public, we still seem to have the same mentality.

Today I travel around the world and speak with all kinds of people about micro-business, like home-business. Often the conversation includes the so called “skill shortage”, felt especially hard in Australia these days. When I question this alleged shortage, I’m always surprised about how little consideration is given to well skilled and educated parents – mainly women – sitting at home looking after the family.

After one of these conversations today, I was reminded of this professor and began wondering if he was right with his opinion in the final analysis? Trivially, his assertion that educating women is a waste, is completely nonsensical, but the final result to the economy seems to suggest his analysis could be right. How else can it be explained that we ignore this massive “skills resource” sitting at home.

The technology we at WinWeb have developed allows for work from anywhere at anytime, others have done the same in other areas? Where is this “skill shortage”? The truth in my opinion is more the fact that we often block this remote working possibility from our minds, but why?

If you consider the skills potential of parents, if each parent would only contribute one hour on average per week to their learned professions. This would be a staggering number of man hours per week.

The benefits for the home working parent would be very tangible too. They could show a almost uninterrupted work history, stay in touch with their profession and would therefor find it much easier to get back into full-time employment after the kids have grown up.

To often my conversation partners look somewhat bewildered at my initial suggestion, but then often admit they had never thought about this possibility.

It is not a waste to educate women or any parent, it is however a waste to treat parents as if they do not exist in work terms. I consider it an insult to each parent and unbelievably damaging for our economy. — ST.

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Small Business Maxim: Have a Passion.

Nov 20, ’07 6:30 AM
Author Stefan Töpfer (Editor) Categories Contractor, Entrepreneur, Freelancer, Generation-Y, Home Business, MumEntrepreneur, Personal Business, SOHO/SMB/SME/Micro, Self-employed, Sole-Trader, Start-Up, be successful, start-up in business

When you talk about business, small business or even micro business, eventually the talk always turn to making money. How to make it, how to make some more and how to make sure the business keeps making money in the future. Most often than not people are surprised by my simple answer:

If you are passionate about what you business does, you will make money. If you are only after making money, you won’t.

I can proof that to you, too. My wife will always ask me why I can’t give up work, she will say you don’t have to do anything, why not stop? Answer: Passion. Why would people like Bill Gates, Richard Branson, Rubert Murdoch carry on working, after they amassed not millions, but billions? Answer: Passion.

We are not driven by making money, but by making a difference, leaving a mark. We can’t wait to tell people about our “brilliant ideas”, even if they turn out not so brilliant sometimes. I got up today at 4:00 am, because I have a great meeting set up today, with some people I wanted to meet for some time, and I can’t wait to tell them my ideas about the future of our business, so I’m going over my presentation again.

I’m sitting here at 5:15 writing my daily postings to you all, you may think I’m nuts. Or you may think I’m driven by the idea to make small and micro businesses more successful, but whatever you think, it is not “my god is this guy greedy!”

Greed is NOT the same as passion! So be passionate about your business and your customers will love you for it. ST.

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Identify your most valuable customers and don't make them scream.

Nov 19, ’07 9:35 AM
Author Stefan Töpfer (Editor) Categories Entrepreneur, SOHO/SMB/SME/Micro, Small Business / SOHO, Sole-Trader, Start-Up, do customer service, start-up in business

I have mentioned the 80/20 rule before, it basically says that you will do about:

80% of your business turnover with 20% of your customers.

Everyone in your small business should know these 20% of your customers by name, so when they call you can give them the “special” treatment they deserve. Often you will hear people say, “you need to scream the loudest to get things done”, many of you 20% customers will not scream, they will leave.

Knowing these customers by name, giving them top priority in terms of service and courteous professionalism is essential, to build your business in the long run. Make your business the business, where your customers don’t have to scream, but just phone and feel treated special, because that is what they deserve.

Your reward for this kind of service is a loyal customer and word of mouth marketing you could not pay for. ST.

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What is your customer service agenda?

Nov 19, ’07 9:25 AM
Author Stefan Töpfer (Editor) Categories Entrepreneur, Home Business, Relationships, SOHO/SMB/SME/Micro, Small Business / SOHO, Sole-Trader, Start-Up, do customer service, start-up in business

I hope you have got one and everyone in your small business knows it. You need to understand what level of customer care your customers want, so most of all you need to listen.

I often come across small business, where customer complaints are causing stress and sometimes even anger. That is sad to see, since you should be grateful that your customers bother telling you about your problems, nine out of ten times they don’t. That should be a frightening thought for any small business owner, they will just stay away and you lost a customer.

You should thank your clients for taking the time to talk to you about your problem. Sometimes listening to simple little comments can make a difference too:

  • “No parking out there!” – could cost you your customer for the next order;
  • “I forgot, I can’t pay with credit cards!” – will cost you business;
  • “Nobody called me back!” or “Nobody answered the phone!” – are business killers;

These are just a few examples, why you need a customer service agenda. You should get your staff to understand your customer service agenda fully, so they can do things professionally, courteously and promptly.

If you don’t have a customer service agenda, your customers may have a agenda, to go and buy somewhere else. ST.

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Customer Service The Backbone Of Any Small Business

Nov 19, ’07 9:05 AM
Author Stefan Töpfer (Editor) Categories SOHO/SMB/SME/Micro, Small Business / SOHO, Sole-Trader, Start-Up, do customer service, start-up in business

Once you have started your business, you will encounter problems, teething problems. Things like the courier did not turn up, your product didn’t work or maybe you could not deliver fast enough, and thru all that your customers stayed with you and ordered new product.

At this point you must realise that you have made your first important step to business success, you have created loyal customers. These customers need to be cared for as they are the back bone of your company sales. On average it is five times more expensive to sell to a new customer than to an existing one. The reasons for this ore obvious, they already know your product or service and you do not need to sell your product to them anymore, lower marketing costs, less time spend on explaining the product or service.

Don’t misunderstand me here, your small business needs new customers all the time, but as mentioned it is far more costly to get them. If your business can’t keep customers than that is a bad sign, and you need to investigate this ASAP.

Turning new customers into loyal customers is the key objective in any business, small or large. And the only way to that is with outstanding customer service. ST.

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New Small Business Startup Idea: Coworking Space

Nov 14, ’07 11:21 AM
Author Stefan Töpfer (Editor) Categories Business Ideas, Contractor, Entrepreneur, Freelancer, Generation-Y, MumEntrepreneur, Office - IT, Personal Business, Self-employed, Sole-Trader, Virtual Assistants, use online IT

It may be that you have some spare space in your house, out-building, or you even a whole house, you can’t or don’t want to sell or rent out, then you could generate income by setting it up as a coworking space, a coworking wiki-site explains it like this:

Coworking is cafe-like community/collaboration space for developers, writers and independents.
Or, it’s like this: start with a shared office and add cafe culture. Which is the opposite of most modern cafes.

All you need is tables, chairs, a WI-Fi setup and apparently a coffee machine and you are in business. But remember you will have people in your house every day, so make sure you are OK with that, before you start. Have a look at the website for coworking to get some more ideas, or read the blog.

It will be a great place for working, socializing, and getting ideas and help from others. ST.

NOTE: If you have any problems with setting something like this up, give our 24/7 live support a “click“, they can help you.

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Free Press Release Distribution for Small Business.

Nov 13, ’07 12:18 PM
Author Stefan Töpfer (Editor) Categories Entrepreneur, Home Business, Marketing/PR, Small Business / SOHO, Sole-Trader, Start-Up, WinWeb, bootstrap, grow your business, market and sell, start-up in business, use online IT

When you sign up to WinWeb’s free LiveNet – still in public beta – you can also use our useful and FREE RSS Press Release service.

While LiveNet is an online marketplace for your services and products, which allows you to promote your business to others and find others to help you with work you need to have done. It is also a great place to make new business friends and share experiences.

The PR tool has been around for some time and we have registered this RSS feed with many different search engines and news sites. Using this free service will give your small business web coverage, sometimes even the old media picks it up.

Give it a go – it’s free – and that makes it a great bootstrapper tool. ST.

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New Small Business Idea: Local News Portal

Nov 12, ’07 11:13 AM
Author Stefan Töpfer (Editor) Categories Business Ideas, Contractor, E-Commerce, Entrepreneur, Personal Business, SOHO/SMB/SME/Micro, Self-employed, Small Business / SOHO, Sole-Trader, Start-Up, bootstrap, start-up in business

With all the new mobile gadgets, with Wi-Fi and free data service, it is obvious that more and more people will consume their news and information electronically. This has been happening for some time now. Local news is still harder to come by, but you could change that with this little business start-up idea.

You could get some pre-designed portal software, blogging software or a forum to set up your portal and then write about local events, with things like this:

  • Live events – like Live Jazz in the local pub,
  • New Business launch – write about the company, people and products;
  • Evening Classes – anything from cooking to phontography;
  • Club News – what time they meet, run a prifile.
  • For Sale Section – from paperclips to houses and cars

You get the idea, there are many more events you could report about. Take leaflets around to get it started and then get revenue from ad’s of local businesses, clubs, for sale ad’s, and get paid for event announcements. Have a look at your local paper that will give you some idea, what people want.

It will get you involved in many areas of your community you didn’t even know existed, get you out of the house, make new friends and earn you some money – what else can you want. One day Google may pay you some money to supply local news to them, who knows?

There is money to be made in each locality, be the first and hog the niche first. Work from home, keep it cost effective, then the set-up should be about $150/£75 and the monthly cost no more than $20/£10, assuming you have a phone, computer and broadband. ST.

NOTE: If you have any problems with setting something like this up, give our 24/7 live support a “click“, they can help you.

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Q & A: How can I grow my business.

Nov 7, ’07 3:38 PM
Author Stefan Töpfer (Editor) Categories Health Check, MumEntrepreneur, Question & Answer, SOHO/SMB/SME/Micro, Self-employed, Small Business / SOHO, Sole-Trader, Start-Up, grow your business, start-up in business

I received this question form a lady working from home, she emailed and explained her business had started of well, she got some clients and kept her costs down. But her turnover is not high enough and she wants to grow her home business. Interestingly she does not want to grow the business more than 20 to 30%, she wants to stay at home with her business. This is not unusual for many small businesses and start-ups, a home business is an ideal way to run your own business.

Getting back to her question, there are really four answers:

  • Increase the number of customers - this in turn will increase the your turnover, yielding the extra business you want, while at the same time make your business more recession proof;
  • Increase the order frequency from your existing customers – this could be more difficult, you need to find out if you can replace someone else as supplier, or diversify your offering;
  • Increase the average order value – same as before, offer higher quality or premium service.
  • Increase your own efficiency – outsource more if you can, cut costs this will not grow your turnover, but increase your bottom line, so you can take more money out of the business for yourself.

Once you start thinking about these options you will find out what you can do, often it is a combination of things to do. But you need numbers, so plan your business, get an overview and find out where you stand.

Remember what you can measure you can manage. ST.

Disclaimer: As with any of my readers questions, I do not have all the answers and here on my blog I can only give you some ideas, since I know very little about your small business. If any of you can add anything here do so for the benefit of my reader, who asked the question and everybody else, leave a comment below – I’d be most grateful.

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New Small Business Idea: Be A Niche Authority

Nov 1, ’07 10:28 AM
Author Stefan Töpfer (Editor) Categories Blogging, Business Ideas, Entrepreneur, Green/Eco-Friendly, Home Business, Self-employed, Small Business / SOHO, Sole-Trader, Start-Up, be successful, sell your business, start-up in business

I’m sure you have some expertise in a special (niche) field, it could be something to do with your training and education, or a hobby you really enjoy.

You can make money with this niche knowledge, and the boorstrapper blog has a post today on how to do that. Raj has posted a great list with an easy step-by step guide on how to build your authority and it centers around setting up a website and blog, nothing could be easier, even if you are not a tech. geek. This type of small business venture is extremely ego-friendly too.

I find this kind of entrepreneurship especially useful for parents at home. Just think about the number of highly skilled moms and dads at home enjoying parenthood, but wishing at the same time they could stay on top of their professional game. This is a fun, flexible way to stay involved and great for any CV should you ever want to go back to work for someone else – although I doubt that very much.

Long before you make it into the top 100 blogs of just about anything, you will find people willing to pay you money for ads, white papers, speaking at events, invite you to product launches, etc. – you will be an authority in your field, it’s just a question of time and passion.

You do not necessarily have to be that good at writing itself (look at me!), use a spell-checker – but be passionate about your topic and people will read your blog and respond. It is the a great feeling to communicate with your readers world-wide.

One final point, blogs are being sold like hot-cakes for serious amounts of money these days, do not under estimate the selling potential of a venture like this!

So just one question then – what are you an Authority in – tell me, I will read it? Setup and running cost for this, $20/£10 per month. ST.

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