The is4profit team, Author at Business advice from is4profit | Page 3 of 375's Posts

Managing Your Money and Your Business: A Guide

Managing Your Money and Your Business: A Guide

For anyone striking out as an entrepreneur for the first time, the stakes are often high. Owning and managing a small/medium sized business means that your own personal financial affairs are likely to be tied up in those of the business. It’s crucial that you always consider how your business is affecting your financial situation – whether you have been running it for two weeks or 20 years. This guide aims to help you control the flow of personal finances into and out of your business – how to manage the investments you put into the company and the income/profits it provides you with in return. Furthermore, it will help you choose the business structure that benefits you most financially, learn about tax advantages, how to withdraw profits and make investments, how to manage an exit, and m... »

How to Plan Your First Advertising Campaign

How to Plan Your First Advertising Campaign

If you have just launched a new business, the first thing you want to do is tell the world. A well-targeted ad campaign can plant a flag in your intended market and let a wide range of customers know about your offering – assuming you have the budget for it. This article is intended as an introduction to advertising for businesses looking to advertise for the first time. For a more general guide, read this article. If you want to make your marketing budget go even further, you should also consider a PR campaign. How do I set my goals? Your advertising budget will almost certainly be misspent if you don’t have a clear idea of what you need advertising for. You need to think about a number of things: Who is my target audience? You need to be very clear about which demographic you are targeti... »

A Guide to Making and Presenting the Perfect Sales Presentation

A Guide to Making and Presenting the Perfect Sales Presentation

For many business people, the idea of delivering a sales presentation can seem more like an ordeal than an opportunity. Standing up and speaking in front of a large audience is never going to be the most relaxing of experiences. But the rewards a good presentation can offer your business far outweigh the discomforts of public speaking. The chance to talk about the benefits of your offering in detail to a captive and interested audience isn’t once you should pass up, and if you prepare well in advance, you can teach yourself to avoid any pitfalls and relish the experience of selling your business on such a large platform. This guide will help you to carefully plan and structure your sales presentation to ensure you deliver it confidently, ready to handle any questions thrown your way. What ... »

How to Use Marketing Research to Really Understand Your Customers and Position

How to Use Marketing Research to Really Understand Your Customers and Position

Businesses can always understand more about the market they are selling to. Marketing research, as opposed to market research (which refers to research conducted solely into the location, size, and growth potential of a chosen market) can help you gain a much deeper insight into your customers, your current position, and the potential opportunities and risks you face. Though it yields indications rather than concrete answers, marketing research can be an invaluable part of your decision making process. This guide will help you understand the different kinds of marketing research, decide what kind of research to carry out, and the best approach for doing so, and decide who should carry out the research, and how to budget for the resources involved. What kinds of marketing research are there... »

How to Create a Killer Marketing Strategy

How to Create a Killer Marketing Strategy

The terms ‘marketing’ and ‘advertising’ are often conflated, but they are in fact very different – the latter coming under the umbrella of the former. Marketing means delivering on the promises you make to customers – so getting your offering right, and delivering it in accordance to your customer’s needs. The objective of any piece of marketing – whether that be pricing, selling, promotion, distribution, market research, or customer care – is to establish and deliver upon the needs of the customer. Successful marketing is no easy thing to achieve, but getting it right should be a core priority for any business hoping to have any kind of success. This guide will not only help you obtain a better understanding of marketing but also help you to plan a marketing strategy while avoiding acommo... »

Conducting Market Research: A Small Business Guide

Conducting Market Research: A Small Business Guide

Before you start up, gaining an understanding of your potential market is essential. You might have the greatest idea ever on paper, but if it doesn’t fly with your potential customers, it’s time to think again. Good market research can deliver these essential insights that test the viability of your business idea. This article provides an introduction to market research for any small business. We cover how to identify your target market, and how to conduct your own market research. You will learn how to leverage different sources of information to conduct research at low cost, what you can learn from your potential competition, and whether to employ the services of a market research agency. Read on to find out more. What should market research help you find out? The key element of market ... »

How to Complete an Income Tax Self-Assessment

How to Complete an Income Tax Self-Assessment

Completing a self-assessment can be a daunting prospect for many, especially if you lack a natural aptitude for numbers. Unfortunately, for the majority of people working in business, it is a prospect you are likely to face. However, provided you keep comprehensive and relevant records, and meet your deadlines, it doesn’t have to be something to fear. This guide will help you both recognise your obligations as a small business as well as teach you how to keep detailed records to ensure you submit your return without any problems. Am I affected by self-assessment? You are responsible for performing your own self-assessment if: You are a sole trader You are in partnership You are a company director who receives benefits or remunerations You are a higher rate tax payer with a higher-rate taxa... »

How to Develop a New Product: A Guide for Small Businesses

How to Develop a New Product: A Guide for Small Businesses

Constant innovation is the key to staying ahead of your competitors as a business. When you think you have hit upon the next big idea for a product, it is tempting to rush through the development process in order to see it hit the market as soon as possible; but this stage needs to be carefully planned, in order to minimise the inevitable risks to your business. It is important to note that a ‘product’ a company offers does not have to be a physical good; whether it is a new insurance package or windscreen wiper, the development principles are the same. In this article, we assume you have already hit upon inspiration for a new product; it is not a briefing on coming up with an idea, but rather a guide to the equally challenging process of bringing it to market. Can I bring my idea to marke... »

Choosing and Using an Accountant for Your Small Business

Choosing and Using an Accountant for Your Small Business

When running a business for the first time, it can be tempting to think you can go it alone – as an enthusiastic advocate of lean techniques, you may have taken the view that an accountant represents an unnecessary expense. But the opposite is almost always the case; a small outlay on an accountant can save your business untold costs in the long run. In this article, you will find an introduction to accountants from the point of view of a small business. We cover what services they can provide, where to find one, and how to save on accountancy fees. What services can an accountant offer my small business? Accountancy is a broad term, and different accountants will offer different kinds of service. There are a number of such services. Helping you file annual accounts. Whether you are a sole... »

Business Angels: How to Find Them, Pitch and Secure Investment

Business Angels: How to Find Them, Pitch and Secure Investment

If you’re looking to secure investment above £25,000 and below £750,000, then a business angel could be the way to go. A business angel is any individual prepared to provide you with capital at their own personal risk. The personal nature of their investment means an experienced angel can also offer hands on knowledge and expertise than can help grow your business. This guide will give you advice on finding a business angel that suits your needs, how to pitch to them successfully and how to secure their investment. When should I consider using a business angel? An angel should only really be considered if you are able to fulfil the following conditions. You must be: Trying to raise £25,000-£750,000 Equity finance over £250,000 is generally the preserve of syndicates – angels investing toge... »

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