How to set up and run a small business

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Run a Business

Taking on your first employee should be an exciting time. It means your business idea is working and you need help to expand. But while employees will help your business grow, they will also bring new stresses you may not have encountered before.

There are all sorts of costs that you must take into account. Plus the way your business runs with just you and any business partner, may not continue to be appropriate when employees are on board.

This guide will help you identify the true cost of an employee, and build a plan to manage the impact on your business. Continue…

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In June 2014, flexible working requests became a universal right. Anyone with 26 weeks of continuous employment can now ask to work flexibly for any reason. The repercussions for small businesses, in which each employee may be vital to day-to-day operations, could be significant. Continue…

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Good publicity can help to propel your small business to another level. Sadly many small businesses don’t make any effort to get any press coverage because they think it’s impossibly difficult to do so.

However, it is really simple to get free publicity for your business. In fact, the reason that many businesses get it wrong is because they try to over-complicate things. Here are the five powerful and unbreakable rules you must follow when trying to get free publicity for your business:
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“Networking is always important when it’s real, and it’s always useless when it’s fake.” – Seth Godin

When I decided to investigate how some of the most successful networkers operated both online and offline, I was desperate to know the “differences”.

Some of the greatest teachers of our time encourage their followers to look for the distinctions in life – the greater your knowledge of these distinctions, the greater your capability to deal with life’s challenges.

Interestingly, regardless of whether the experts I interviewed were using offline events, clubs and conferences to build their networks, or whether they were joining digital communities and groups online, their actions were underpinned by the same operating principles and many of the same activities.

From interviews with leading business experts, I’ve identified their Top 10 tips for networking success. I’ve called them the “Magic 10″ because they kept appearing in interview after interview, seemingly from out of nowhere. If you can integrate these tips into everything you do, you will have a thriving business network in no time. Continue…

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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?
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The path from initial interest to confirmed sale hardly ever runs smoothly, especially in today’s tough marketplace.

Even though the buds of economic recovery are finally beginning to surface, failing to close is still a growing issue; a recent Silent Edge study has shown that only 49% of businesses are successfully closing deals, and that’s not the only problem. Continue…

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International bodies seem to be falling over themselves to upgrade their growth forecasts for the UK. The IMF recently hiked its predictions to 2.9% this year and the OECD to 3.2%. This is all good news. But what does it mean for business owners?

An interesting phenomenon occurs as economies race out of deep recessions; there is a rush for new and innovative products as buyers and consumers seek radical new solutions. This comes at exactly the time many companies are still in ‘recession mode’; blinkered, inwardly focused and slow, so creates a great opportunity for nimble and brave businesses. Continue…

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The Summer holidays are fast approaching and if you are an employer, you may soon be inundated with holiday forms from your workforce, as staff begin to prepare for their holidays.

Although a lot of businesses have a workforce structure that enables adequate cover during holiday season, there are some that struggle due to the lack of staff and or financial resources to provide cover, during the holidays.
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Business development is much more than just about marketing, sales, pitching, online wizardry, mailings, advertising, branding, social media strategies, glossy brochures, discount deals, promotional gimmicks or special events.

Every single thing a business does has a potential impact on how your business performs. Following these 10 business development truths, will help your business to grow and give you an edge over your competitors.
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With an estimated 2.1 million businesses based at home (a number which is growing fast), many of them operating in a family environment, more and more small business owners are torn between concentrating on a successful career and meeting the needs of a family.

Many small businesses are successfully started up from home, and there are huge advantages of doing this while you get your business off the ground.

The biggest benefit for a small business is that you do not have to fork out on the cost of premises in the early days. You also save huge amounts of time in looking for premises. Another advantage is that you can create more time to work on your business because your commute will be taking a few steps from the kitchen!

But the downsides are huge too. Continue…

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There’s no doubt that entrepreneurs need spark, grit, creativity and a huge amount of drive and commitment. However, adversity can be a helpful companion to an entrepreneur: it may be the catalyst for that light-bulb moment or it may create resilience. Continue…

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There are a few certainties in life; death, taxes and skills shortages. However you’ll notice that some companies suffer more than others when it comes to hiring and keeping great employees.

So, how can you be one of the smug employers that attracts and retains great people when everyone else is struggling? And how can you keep the down costs of recruiting staff?
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If you can develop a better understanding of the selling process, you’re more likely to make those all-important sales. And by knowing more about the seven specific steps you need to take before you can close the deal, your sales efforts will be more richly rewarded.

Here’s what you need to know about the seven steps of the sale;
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The Brompton Bicycle is a great example of how a simple idea can be transformed into a global business. Today, the company behind the bike is a well-known British business success story, but it wasn’t always the case.

Back in the 1970s, having looked at the folding bike designs already on the market, Brompton founder Andrew Ritchie, decided he could do something better.
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So you want to sell your business? The place where you’ve spent more time than with your family; invested money which you’ve sometimes had to borrow in order to expand or buy new equipment; given your heart and torn out your guts; worked anywhere from 60 – 80 hours a week, maybe more; tackled a recession and seen a chink of light at the other end.

Now think of decorating a room. Any professional will tell you it’s 80% preparation and 20% finish. I wouldn’t go quite that far, but the planning is all important when it comes to selling. Continue…

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When you are running a business you will come across and need to interact with a raft of various people. If you can quickly build up a rapport with different types of individuals things will be a lot easier for you. This is especially true when it comes to meeting and engaging with your all important customers.

But building customer rapport doesn’t mean that you change your values, beliefs, or your hairstyle! It simply means you need to find some commonalities between you and the customer that you can use to help them feel at ease. Continue…

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How can you be at your most efficient each day? What efficient or inefficient routines have you grown accustomed to in your everyday life?

Improving personal efficiency is not about forcing yourself into a daily regiment of torture, it is about creating awareness of what you want and discovering a few natural steps that lean more in the direction of where you want to go.
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Culture is the intangible glue that binds us. It shapes attitudes and behaviours. It generates tone and identity. And, it is the lens through which we make-meaning of the world around us, and our place as an organisation within it.

Building a culture of innovation in your business brings many benefits, including helping to give you a competitive advantage and making it easier to recruit new talent. Continue…

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Running a business means you always have plenty of problems to overcome and issues to deal with. It’s part of the fun of being in business, but when you’re busy it can be hard to be creative and to find innovative solutions.

Your brain is always coming up with solutions to problems and providing a constant stream of innovative ideas.  But if you aren’t tuned in and ready to receive them as they bubble up from the depths of your subconscious and surface in your conscious – they will quickly disappear again? If you need solutions, it is vital that you’re in the right state of mind to receive them.

When trying to be more creative, there is a technique called “dunking” you can try. It’s an approach inspired by the brilliant engineer Thomas Edison whose inventions truly changed the world.

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Most organisations and their leaders acknowledge that their reputation – establishing it, defending it, building it – is critical to their success in today’s always-on, connected and often very transparent world.

Reputation is really created by two things: what you say and what you do. This is heavily influenced by your approaches to brand management (what you stand for, what you promise, the products and services you provide) and talent management (the people who design, manage, and deliver the products and services you provide).
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