Author: Ethan Theo

Abe WalkingBear Sanchez is an International Speaker / Trainer / Consultant on the subject of cash flow / sales enhancement and business knowledge organization and use. Founder and President of www.armg-usa.com, WalkingBear has authored hundreds of business articles, has worked with numerous companies in a wide range of industries since 1982 and has spoken at many venues including the Shakespeare Globe Theater in London.

Operations

Increase Your Sales by Making Payment Easier

Post author By Ethan Theo
Post date January 4, 2014

The quicker the payment process is, the more sales you’ll get. This goes for everything from waiting in line in the supermarket to filling in endless fields buying online. So if you’re looking to sell (and who isn’t) then the first thing you need to do in 2014 is to streamline your payment process.

Diversify Your Methods

Providing more than one way to pay makes it more likely that customers will buy. While it’s not practical or advisable to offer lots and lots of different payment types, you should do your research into your target audience and see which they prefer. This is true whether you’re asking for payment in a shop or online, and is even true for traditional cash payments like taxis.

Ecommerce retailers can easily offer a variety of payment methods, but you can make your site especially lucrative if you allow for mobile payments too.

Don’t Over Complicate It

One of the worst things that you can do with online payments is to ask a potential customer to make an account before they buy. While it might be a good way to build up your email marketing list, it’s a major turn off for potential consumers. Not only does it make it take longer to buy anything, the anticipation of a flood of marketing emails is enough to make anyone abandon their basket. It isn’t essential for buying in a physical shop, so why is it necessary for online payments?

Instead, offer the option to buy without creating an account, and make it quick, easy and unobtrusive to buy products from you.

You can still offer the option to create an account – it is often beneficial for returning customers – but make it as easy as possible. Their email address and name should be all you need.

Don’t Forget About the Shop

It’s easy to talk about making payment easy online, and forget about making it easy in your high street shop too. Having as many payment terminals as possible is essential, so why not use something like Card Cutter’s mobile credit card terminals to make your customers’ lives as easy as possible. They work just the same as the ones you see on trains or in restaurants, so you can take payment from your customers anywhere on your shop floor. This means that customers don’t have to queue, and can walk away happy and likely to return.

How-To Guides

How to Create a Successful Freelance Business in 2014

Post author By Ethan Theo
Post date January 3, 2014

Working as a freelancer offers a number of benefits including the freedom to decide your own schedule. Flexible working hours may seem like a dream come true if you are used to working from nine to five but keeping productivity levels high can be a challenge. With this in mind, here are four tips that will help to ensure your freelance business is a success.

Create an Efficient Working Environment

Productivity is the key to creating a successful freelance business and if you want to be productive, separating your home and work life can help. If you have a spare room, turn it into an office and create a comfortable place to work that is free from distractions. If you aren’t comfortable, your mind will be on other things so make sure you invest in a high quality office chair. Sitting at an office chair for hours on end can cause a few aches and pains but this article will help you to set up an office space that promotes good posture.

Set Up a Website

Becoming a successful freelancer very much depends on word of mouth recommendations. However, if you are just starting out, you can do with all of the exposure that you can get. Having your own website is the perfect way to promote your services and show potential clients what you offer. You can use this platform to showcase your freelance portfolio and use it to secure new clients.

Get Social

Having a website is the first step to creating a successful freelance business but if no one knows it exists, interest will be limited. Social media sites such as Facebook and Twitter are the perfect platforms to drive traffic to your website. Promote your services via social channels and increase awareness without paying as penny.

Invest in Professional Correspondence

As a freelancer, you may not be in a client facing role but this does not mean that you shouldn’t conduct your business in a professional manner. In order to make a living from freelancing you have to present a professional image to your clients if you want them to use your services on a regular basis. Stationary printing services can help you to maintain a professional image with unique invoices, envelopes, letterheads and more. Rockhill First Class Envelopes have a great selection of quality envelopes that are guaranteed to make a great impression.

So, there you have it, four tips to help you build a successful freelance business in 2014.

Starting Up

Preparing to Launch: Tips for Establishing your Business Start-up

Post author By Ethan Theo
Post date December 15, 2013

As part of a wider coalition drive, Chancellor George Osborne’s Autumn Statement delivered several breaks and benefits for small business owners. Led by the decision to cap business rates at 2% for the forthcoming financial year, there were a number of initiatives designed to empower small business owners and reduce operational costs. While this may well tip the balance for aspiring entrepreneurs and encourage them to establish a business, however, there are numerous legal and compliancy issues that they must first address.

Launching your Start-up Venture Responsibly and Efficiently

While the exact nature of these issues will depend on your business, there are a particularly high number that revolve around employment law, health and safety and tax compliance. With these in mind, consider the following steps for launching your business responsibly and effectively: –

Ensure that your Business is classed in the Correct Tax Bracket

Not all businesses are created equal, either in terms of their resources or company structure. Initially, you will need to decide on a legal framework that suits your business model, and specifically one that ensures compliance with tax regulations and government laws. To begin with, determine you projected turn-over for your first year, as this will inform you whether or not you are eligible to pay VAT (the current threshold is a turnover of £65,000 a year or more). This will also help you to settle on a legal framework, whether you establish a limited company or set-up as a sole trader.

Respect Construction and Health and Safety Laws

If the construction of a site or workplace is part of your start-up plan, you will be required to comply with national health and safety laws as a matter of course. Without this, you may fall foul of a compensation claim or compliancy issue that could cost your business thousands of pounds before it has properly launched. To negate this, ensure that your construction site is equipped with easily identifiable warning signs, which distinguishes hard-hat areas, chemical hazards and potential electrical wiring risks. Suppliers such as Signarama Signs produce an array of similar notices, enabling your business to remain compliant and safe at all times.

Avoid Employing Staff until you have a Suitable Infrastructure

One of the big mistakes that UK start-ups make is attempting to run before they can walk, especially when it comes to implementing growth plans and employing staff. Taking on a team of employees requires significant financial resources and a suitable infrastructure, as you must provide a complaint and safe workplace and a host of benefits aside from their bottom line remuneration. Failure to appreciate this could cause numerous issues and even law-suits in some instances, so think carefully and commit to developing your venture in a considered and organic manner.

Operations

The Importance of Tracking your Businesses Assets

Post author By Ethan Theo
Post date December 14, 2013

While technological advancement may mean that it is now easier than ever to establish a business as an entrepreneur, this has created an extremely competitive commercial market. This means that creating a profitable and visible business is a far more difficult business, especially if you intend to sell products through an e-commerce model. In the wake of one of the busiest online shopping days in recent history, it is clear that the market is saturated with independent retailers who compete for a vast and well informed audience.

How Asset Management Software can help you to achieve a Critical Edge in the Market

With this in mind, the proactive entrepreneurs among you may wish to consider investing in asset management software. This delivers considerable advantages to product orientated ventures, primarily because it enables you comply with national legislation and also track every single physical asset that is owned by your firm. In particular, it will allow you to create a real-time graphic that lists each asset, its precise location and its exact cost. There are even advanced packages of software, such as those that have been innovated by Assetware Technology, which help you to create planned maintenance schedules while also calculating the cost of depreciation for each individual product.

With this in mind asset management software can be even more invaluable for companies with a warehouse location and an in-house distribution model. In this instance, advanced software solutions can also be deployed to track assets after they have being shipped, making it far easier to follow their progress and share this information with customers. If managed correctly, it also offer you an opportunity to be proactive and pre-empt any delivery issues or delays, meaning that you can significantly improve your businesses customer service output.

The Last Word

As these examples show, the implementation of advanced asset management software can help to manage production costs, maximise manufacturing output and improve the delivery of customer service. These all translate into higher profit margins for your business, while they also enable you to gain a competitive edge on similar retailers in your particular market niche.

In an age where millions of small and independent online retailers compete for their fair share of a chosen market, even the smallest potential advantage can make a significant difference. This is why any investment in asset management software represents a sound decision, as it is likely to more than repay its value over the course of several years.

How-To Guides

Selling your Business: How to Achieve a Profit

Post author By Ethan Theo
Post date December 13, 2013

Whenever people refer to the Great Recession, the topic of accidental entrepreneurship is almost always brought up. This is because the worst financial crisis in years had a huge impact on the job market, and forced thousands of unemployed individuals to go it alone in the quest for security and independence.

Now that the economy is improving, however, those without the drive or instinct to remain as entrepreneurs are looking to sell their ventures for a healthy profit. This is far easier said than done, however, as anyone with first-hand experience will testify that selling a commercial business is a process fraught with hidden dangers and potential pitfalls.

Top Tips for Effectively Selling your Business

With this in mind, what practical steps can you take to effectively market and sell your independent business? Consider the following: –

Set a Fair and Reasonable Valuation

Whether you are looking to sell your entire business or simply a predetermined equity share, it is crucial that you apply a reasonable valuation which offers some incentive to potential buyers. While there are multiple ways that you can appraise your commercial assets and arrive at a valuation, this means little unless you are able to apply common sense and establish a price that has merit in the existing market. So be considered in your approach, and remember that compromise may be necessary if you are to achieve your long-term financial goals.

Target the Right Market for your Business

While there are a number of potential deal-makers who may offer to help sell your business, not all of these are as reputable as they seem. With this in mind, it is imperative that you are patient in your approach and strive to identify the right market for your business. In effect, this will put you in touch with reliable individuals who have the willingness and capacity to buy, which in turn will optimise your chances of executing a quick and efficient sale. This may prove crucial, especially if your business belongs a niche market that is prone to instability.

Seek Out Professional Assistance

Regardless of the price that you set for your business, you will need to work extremely hard to maximise the value within the firm. This may require professional assistance, as market leading firms such as the Axis Partnership bring a wealth of experience and professional negotiation skills to the table. This is key, as potential buyers will always strive to lower the cost and achieve a bargain regardless of the nature of your business and its overall appeal. By partnering with an experienced firm, you can achieve the best possible financial results for your business.