When people talk about ‘gearing’ in a business, they are usually referring to one of two types;
- Financial gearing
- Operational gearing
Here’s a guide to what gearing is, and how you can use it to increase the returns your business makes;
If you’re starting a business then chances are money is tight – so anything you can do to increase sales without spending a fortune is worth looking at.
It’s easy to imagine that you need to employ a crack sales team – but the truth is, if you’ve made one sale, then you already have one sales person – that customer. And more often than not, the best people to sell your products and services are your customers.
Customers have already gained benefit from you and because they are impartial, they can provide legitimate social proof. So how do you get your customers selling for you? Continue…
One of the main benefits of becoming self employed is the ease with which you can start up and run your new business.
You can even become a sole trader (another term for self-employed) whilst working as an employee for someone else, so you can test the water and see if you’re suited to working for yourself.
Here are 5 things you need to do when you decide to go self employed: Continue…
If you’re launching a new business, or looking to grow your existing business, then the chances are you’ll need to do some cold calling at some stage.
However, despite its importance within their business and the doors it can open, many business owners shy away from cold calling and find it extremely stressful. To help you overcome such cold-calling anxieties, here are six techniques that can help you become a more confident, far less stressed, and much more effective cold caller:
A change is afoot for the UK’s self-employed workers, and it’s good news for some 1.7million one-man bands!
From 1st October 2015, if you are self-employed and your work activity poses no potential risk to the health and safety of other workers or members of the public, then Health and Safety law will not apply to you.
So are you one of the sole traders that no longer has to worry about complying with Health & Safety legislation? Continue…
When you are starting a business, sitting down and grappling with Health & Safety legislation isn’t one of your top priorities. It’s fair to say that it’s not one of the more exciting parts of running your own business, and it doesn’t bring in any money.
However, with the average fine for Health & Safety prosecutions being over £30,000, it can be very costly if you don’t stay on the right side of the law. With so much at stake, we asked Louise Hosking of Hosking Associates to explain what small businesses need to do; Continue…
There is a lot to be gained from business planning but many businesses will search for a million reasons to avoid it. However large or small your business is, planning for the future is critical to its success.
Apart from the obvious benefits of setting your stall out for the year ahead, creating an annual strategy will motivate, inspire and focus you on what needs to be done and when.
Young businesses and start-ups that are looking to raise funding have a dizzying array of choices nowadays. In fact, there has probably never been a bigger range of places to go for early-stage finance, from crowdfunding and angel investors through to government-backed start-up loans and P2P lenders.
But before we take a look at the options in more detail, it’s important to think about what sort of funding you’re after for your business, and what you’re prepared to offer in return. The basic division here is between equity and debt. Continue…
When you decide it’s time to get your business started, you’ll find the first piece of advice given by most experts is to “get a business plan written”.
And they’re right; that is the first step to turn your business dream into a reality. But many people find it the hardest step to make.
A key skill for business owners is the ability to deliver a successful business pitch.
A pitch can take many different forms, it might be pitching for contracts with possible new customers, highlighting potential opportunities to new partners, persuading talented individuals to join your team, or trying to win investment to grow your company.
With the ability to pitch being such an important tool in a business owner’s armoury, here are some simple steps you can take to give yourself the best chance of succeeding with your pitch and getting that handshake.
Most small business owners have an opinion on networking. For every person who enjoys and values it – you’ll find another who visibly shudders at the mere mention of the word.
But why does networking seem to polarise small business owners? Is it a massive untapped opportunity, or is it an uncomfortable evening in the company of strangers and cocktail sausages?
Poor posture at work can lead to serious long-term health problems for many individuals, often triggering severe stress and anxiety in sufferers.
There is compelling evidence to indicate people who sit for more than four hours at a time are at greater risk of obesity, heart disease and diabetes – a condition that has risen by almost 60% in the past 10 years.
Back pain caused by bad posture is an issue affecting around 70 per cent of the nation’s workforce and is now the second most common complaint among employees. Few will be aware that poor posture can also contribute to knee pain, fallen arches and even cause poor bladder control.
With back pain damaging the health of employees and costing businesses in sick days, it’s clear that employers should do everything they can to eliminate poor posture in their workplace.
There are restaurants that have people queuing up to dine, products that you have to pre-order months before they are released, tickets that sell out within hours and shares that shoot up in value right after they float.
There are cars that are snapped up before they are constructed and apartments that are sold before the first brick has been laid.
But, why are a select group of people and products in such high demand? And more importantly, how can you recreate a similar desire for your business?
Starting a new business is fun. It’s a world of learning and discovery as you set out on your own and try to build a brand new business from scratch.
Many people are so caught up in building their business that they don’t really consider where they want it to go in the long-term. And very few people are forward thinking enough to plan the finish – their exit strategy – when they are starting up.
Yet it’s an essential part of your start-up planning. Not only will there have to be a day when you walk away from the business, but when you know where you ultimately want it to go, you are much more likely to make the right decisions along the way.
Here’s why you need to plan your exit before you launch your new venture;
A fire or flood can prove crippling for a small business, and therefore business owners should have a plan of action in place, should they fall victim to such a disaster at their business premises. Failing to do so could prove to be an extremely costly, or potentially fatal oversight.
Here are some practical steps businesses should take when disaster strikes; Continue…