Category: Management

Financing Your Business at the Beginning Stages

Posted by WFG – September 2, 2011

Financing your business can be something for the more advanced business owners. Other, more modest small businesses may need minor funds before making an investment pitch. So where do these finances come from?

Money

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Financing your business with Personal Savings

The first way for financing your business is through personal savings. This can be easier when you’ve had time to save though in some circumstances this option isn’t available. It can be tough to make sufficient savings for starting a company, but it’s one of the best ways of small business funding. The advantages include.

  • No debt
  • No interferences from external sources
  • Building a good credit rating
  • The ability to take small steps, instead of one larger loan Read the rest of this article

Investment Pitch Mistakes

Posted by WFG – August 31, 2011

During your investment pitch the chances are you will make some mistakes. This is normal and errors such as dropping your pen will be largely ignored. But there are other glaring problems that need to be addressed. The only problem is, you probably don’t know you’re making them.

Overselling Your Investment Pitch

You may think you’ve made it big when you pitch your business to investors. But the truth is you’re not even close. Some small business owners are overly confident when they believe their business to be in a great position. But be warned, investors can see through this. Read the rest of this article

Pitch Your Business with Three Simple Rules

Posted by WFG – August 30, 2011

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Image courtesy of Klara.Kristina

If you have the chance to pitch your business for funding, there are three simple rules. These rules are for those of you that already have a basic outline and a business plan, but need that something special to help you stand out. Without it, you’re just another small business owner with an average idea.

Pitch Your Business in a Circle

Not physically in a circle, that would be silly, but make sure that the start and the end match up. Think of it like a Simpsons episode. At the beginning everything is normal, Homer works in the factory and the family live at the same house they always have. There is an introduction, much like your investment pitch, until the storyline starts and the core of the show unravels. This is the moment to reveal your business plan and company outlook. As the program goes on, the cartoon characters are built up and more often than not, the loose ends will be tied up, with the family back to sitting on the couch. It’s in this part that you summarize your pitch, much like you started, but with a broader outlook. Read the rest of this article

Small Business Funds

Posted by WFG – August 30, 2011

money roll

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Small business funds are the life source of a startup company. They not only help you progress as an organization, but as a small business owner. These funds though, can be hard to come by and while you can try pitching your business to investors, you can also look to government grants.

Government Grants

The first approach to finding small business funds is the government grant. But before you rush to your nearest government office, you’ll need to consider a few requirements.

  • Make sure you’re eligible, which sounds obvious, but true. A wide selection of applications get turned down simply because company owners don’t read the criteria.
  • Keep your finances in order. When going through the application process, authorities will need to make sure your finances are professionally maintained. This means invoices, receipts and any documents to support your application.
  • Have enough time. Many small business owners don’t understand that government grants can take time to complete. Give yourself roughly three to four weeks.
  • Seek professional help. You may find that completing the application process is getting in the way of other tasks. By getting professional help you can complete a good government grant application, and work at the same time. Read the rest of this article

Finding an Investor

Posted by WFG – August 29, 2011

Finding an investor might sound simple, but it isn’t. There are a series of different strategies and the chances are you’ll need to put them all into action. Just remember that if your business idea is good, they’ll need you as much as you need them. Pitch your business well and you’ll be in a commanding position.

Know Your Plan

Before you start pitching your business and finding an investor, you need to know what you’re looking for. There is a typical angel investor and you should aim your search for the following points.

Age: 40-60

Income: Exceeds $100,000 Read the rest of this article

Pitching Your Business

Posted by WFG – August 26, 2011

Pitching your business can be a nerve-racking experience. We all remember the time, as children, when we had to make a presentation at school. Your hands would shake and your speech sounded wrong, all this, in front of a room full of people. Though years have passed, your body still acts the same. The only difference now is that you’re pitching your business to potential investors and have the future of your business in their hands. Read the rest of this article

Small Business Guides

Posted by WFG – August 25, 2011

Small business guides are there to help companies find advice. But while you may come across one you like, there are several that offer different ideas and angles on the same topic. Some will offer news, others include business opportunities.But no matter what they offer, it’s always good to have a shortlist of the best, so you can compare what they all have to offer.

What to Look For In Small Business Guides

When looking online for a small business guide you’ll no doubt find a lot of websites offering a wide variety of advice. This can be overwhelming, but think about your position and what you need. Most articles are specific and will aim to help target companies. For example, you wouldn’t look for articles on running an eBay business if you were starting a coffee shop. Narrow your search down by using search bars, not by flicking through the lists of articles. Read the rest of this article

E-Business Risk

Posted by WFG – August 24, 2011

E-business risk is everywhere and it can severely damage your company reputation. But in this day and age not using internet technology would leave you falling behind the competition. So how do you get by and manage the potential e-business risks?

What Is E-Business?

Computer Keyboard - stock photo

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In the most basic terms, e-business is using internet technology for your business. By using this, companies can reach out to more customers, speed up their services and create a better product. It’s an ever changing part of the industry, but learning how to use it isn’t the hardest part of e-business. One of the toughest aspects is keeping up with the progression. One of the e-business risks is being left behind, but by staying one step ahead of the industry you can use it to your advantage. Some of the examples of e-business are:

  • E-mail
  • Online Banking
  • Customer Relationship Management
  • Business to Business Data Exchange
  • Commercial Transactions Read the rest of this article

Small Business iPhone Apps

Posted by WFG – August 23, 2011

As technology evolves it’s important to find the best small business IPhone apps. It can keep you up to date with current events, can help you monitor your website and will also push you to be creative. So what are the best small business IPhone apps?

iPhone 4's Retina Display v.s. iPhone 3G

Image courtesy of Yutaka Tsutano

Communication With Your Small Business IPhone Apps

Every business person needs to communicate. So you’ll need something that can help you contact whoever you want, whenever you want. Though you can pretty much do this already, some IPhone apps enable you to make conference calls to more than one person. Read the rest of this article

Dealing with Difficult Staff

Posted by WFG – August 19, 2011

As a manager, dealing with difficult staff can be a pain. It makes your life hell, causes problems with other staff and harms progress. But before you make a sudden decision and fire the employee, remember why you hired them to begin with, you may be able to use the situation to your advantage.

Ashes of Problem Employees

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Dealing With Difficult Staff, Not Ignoring

Some staff might cause problems in the work place, but also bring something to the company that others can’t. A wide range of managers will simply choose to ignore the problems, because of the more positive aspects. But doing this won’t solve the issue. The difficult staff won’t just stop being who they are, so deal with it sooner rather than later. Before it gets out of hand.

The chances are that the member of staff won’t realize they are causing a problem. This is down to a polite workforce that wants to get along. As the manager you will need to help your staff by addressing the issue and making it go away. Not only will you feel better, but the rest of your team will be grateful.

Read the rest of this article