The power of Facebook for business

Facebook is the biggest social media channel your small business can use. Here’s why you should use it.
To promote your business
If your business has a strong identity that is highly visible on Facebook, you will get an audience. While you can set up a Facebook page for free, you may need to advertise to get the reach you want.
To create a brand personality
Boring, business-specific posts won’t grab people’s attention. Express yourself online, and let customers see your business’s personality.
To engage with existing and potential customers
This is an obvious reason companies use Facebook, but it’s important. If you don’t engage, who will know about your business?
To tap into the largest online consumer network
Research has shown that three-quarters of Facebook users have some connection to a local business.
To connect with the local and global community
Depending on the type of business you run, you’ll want to engage people in different areas. Facebook lets you do that easily.
To run promotions or events
Organise some Facebook-specific events and giveaways, and watch interest in your business rise.
To learn from the audience
Communication is a two-way street, and Facebook gives people the chance to engage directly with brands. Don’t be afraid of what people have to say about you.
To share product or service information
If you are launching a new product, spreading the word on Facebook is an excellent way of letting a vast amount of people know about it.
To drive traffic to your website
Generating interest in your product or service through Facebook can refer traffic to your site, where you have further branding and communications opportunities.
To boost staff morale
Get your employees involved by encouraging them to contribute to your Facebook posts.
READ MORE: Facebook says 8 billion videos a day are watched on its platform. Here’s how to tap into this audience.
Image Shutterstock.

This post was originally published here - https://www.thinkbusiness.ie/articles/how-do-i-use-facebook-for-buiness/ on

Three ways to finance your business

Before you apply for a business loan in Ireland, you should consider a few things that will increase your chances of getting the money.
There are three main types of finance for most businesses:

Debt: The business borrows from an external source to meet its business needs
Equity: Part of the ownership of the business is sold in return for cash to support business growth
Cash: A business can also finance its growth through cash from the business owner, family or friends, or grants from government agencies.

Borrowing from a bank is a form of debt finance. There are several different types of finance, and which type you use will depend on whether the finance is for a short-term or a long-term use. The “golden rule” is to match the type of finance (short-term or long-term) to the intended business need (short-term or long-term).
Lending for short-term purposes adds to a business’s working capital. Two main types of working capital loans are:

Overdrafts
Invoice discounting

For long-term purposes, the most relevant forms of finance are:

Asset finance, which covers leasing and hire purchase arrangements
Term loans

Let’s look at each of these different types of finance in turn:

Overdrafts
Overdrafts are a short-term permission by a bank to a business, allowing the business to issue cheques or make withdrawals on the business current account, up to a specified amount (called an overdraft limit or permission). Interest is charged on a daily basis on the amount of the overdraft used. Generally, there will also be quarterly fees as well as an annual facility fee.
Most often, overdrafts are used by a business in managing its working capital and to meet very short-term financial need.
The main advantages of an overdraft are that they are usually easy to arrange, they do not have a fixed repayment schedule and you only pay interest on the amount of the overdraft that

This post was originally published here - https://www.thinkbusiness.ie/articles/how-to-get-business-loans-ireland/ on

A Business Model Canvas

A Business Model Canvas is the resource for startups. Forget a business plan, they are not suitable for early stage startups. This one-page business model, however, is golden. Download a free ThinkBusiness Business Model Canvas.
Below is a two-minute video overview of the Business Model Canvas.

2: The Value Proposition Canvas
This drills deeper into one of the key elements of the Business Model Canvas.
The Value Proposition Canvas is a very powerful tool. If your business doesn’t clearly understand the value of what you are offering then you don’t stand a chance of survival.
3: User Stories
Understanding your user helps your business’ value proposition. It’s best to have a nice, neat user story to help get your startup focused. Here is a good article that shows you how to do this.
Article by Ita O’Sullivan.

This post was originally published here - https://www.thinkbusiness.ie/articles/free-business-model-canvas/ on

The best lean startup guides

1: The Business Model Canvas (or Lean Canvas)
This is the resource for startups. Forget a business plan, they are not suitable for early stage startups. This one-page business model, however, is golden.
Thoughtfully done, it can guide a business through the first choppy months. Download it here.
Below is a two-minute video overview of the Business Model Canvas.

This post was originally published here - https://www.thinkbusiness.ie/articles/best-lean-startup-guides/ on

Ten steps to selling online

Selling goods online isn’t easy. Here are ten tips to get you started.
If you decide to start selling online, how can you ensure you hit the ground running?
You can set yourself apart from the rest by following these tips:

Develop an attractive, user-friendly website: Your text and design must be consistent, and it must be simple for customers to navigate your site for products. Loading times must be quick, and all information must be readily visible. A good website hosting service is essential, and you should optimise the site for mobile.
Use dedicated landing pages: A landing page is a single webpage that is accessed when users click on a search engine result or advertisement. A landing page should have a clear call to action for the customer, and will help to generate sales.
Use incentives: Customers appreciate their loyalty being rewarded, and will respond to time-specific promotions. The sky’s the limit: you can offer seasonal or anniversary deals, or even randomly reward customers.
Use social media: Promotions on sites like Facebook and Instagram will generate a good response, as well as new followers. Use incentives here to get people involved. Think of new and exciting ways to market your products.
Consider a blog: Blogs are a fantastic, organic way to generate interest in your business. You can write about a wide variety of topics, such as sector news, product information and even current events, where applicable. But be sure only to take on a blog if you have the ability to keep it up to date. Ensure you share your blog posts on social media.

Make customers feel safe: Emphasise your trustworthiness by offering free return policies and warranties. Offer shipping deals. Customers will be far more likely to buy online if they feel safe doing so.
Share good reviews: Credibility is crucial in the online

This post was originally published here - https://www.thinkbusiness.ie/articles/how-to-sell-online-the-easy-way/ on

Kiki Moon and the Kardashians

Keelin O’Keefe, founder of KiKi Moon, talks about her startup journey, the bumps along the way and how her products are now getting noticed in America.

Quality of life
O’Keefe manufactures the Kiki Moon blankets in Portugal. “Everyone said I should go to the Far East to make the blankets, but that just wouldn’t work for me. I have two small children. I need to be able to hop on a plane and meet my suppliers within a few hours. I didn’t launch my business to detract from my quality of life. I want it to enhance my life and travelling all over the world won’t do that.”
Setting up the online store wasn’t the hardest part of O’Keefe’s startup journey. “I had to learn very quickly that social media, especially Facebook and Instagram, would play a huge part in our marketing strategy,” she says.
“Setting up the online store wasn’t too difficult because we had

This post was originally published here - https://www.thinkbusiness.ie/articles/kiki-moon-and-the-kardashians/ on

The story of Kiki Moon

Keelin O’Keefe, founder of KiKi Moon, talks about her startup journey, the bumps along the way and how her products are now getting noticed in America.

Keelin O’Keefe, already a mother of one, got quite a surprise when she found out she was expecting her second baby, due on the same month she had planned to launch her first business.
“I had put so much work into research, planning and design that I couldn’t just quit. I decided to go on and launch the company. I just had to make it work.”
O’Keefe says there is no “perfect time” to launch a company, and most of her new business had been built before its inception.
“I had a beautiful baby girl in March and in August of that year I launched the Kiki Moon online store.”
Kiki Moon is a platform that sells organic baby blankets in vibrant, fresh colours.
“I had a strong vision of what I wanted to design, make and sell,” says O’Keefe. “That’s the most important thing, getting the products right. After that, it’s sheer hard work, organisation and determination.”
Quality of life
O’Keefe manufactures the Kiki Moon blankets in Portugal. “Everyone said I should go to the Far East to make the blankets, but that just wouldn’t work for me. I have two small children. I need to be able to hop on a plane and meet my suppliers within a few hours. I didn’t launch my business to detract from my quality of life. I want it to enhance my life and travelling all over the world won’t do that.”
Setting up the online store wasn’t the hardest part of O’Keefe’s startup journey. “I had to learn very quickly that social media, especially Facebook and Instagram, would play a huge part in our marketing strategy,” she says.
“Setting up the online store wasn’t too difficult because we had

This post was originally published here - https://www.thinkbusiness.ie/articles/business-ideas-kiki-moon/ on

How to spot a lie on a CV

Here are five of the best ways to spot a CV bluff.

Many employers expect an exaggeration or two on a CV, but being able to spot an outright lie can be crucial to hiring the right candidate or getting a dud employee. Below are top tips on how to spot a CV lie.

Go online

The most obvious way to check if a candidate is bluffing on his or her CV is to go online and have a look around. A glance at someone’s social media profile can be very revealing, but your search shouldn’t be limited to Facebook. If they claim to have worked for a particular company, do their connections on their LinkedIn page reflect this? Furthermore, do the details on their CV match with what they have on their LinkedIn page? Likewise, a candidate might claim to hold a particular position in their current company, but a visit to that company’s website’s ‘Meet the team’ page may reveal something entirely different.

See them in person

It’s easy to lie on paper or from behind a keyboard, but get someone in person and it’s much easier to separate fact from fiction. Simple things like body language or a verbal tick might reveal the truth, otherwise asking specific questions about past roles should quickly catch a liar out.

A competency based test during the interview will also be useful in verifying if a candidate has the skills and know-how they profess to have. If a role has a specific language requirement, there is no better test than getting the applicant in front of you and seeing exactly how fluent they are.

Ask to see the Certs

Depending on the role, there are a lot of employers out there who won’t seek proof of a candidate’s educational qualifications, and some candidates will take advantage of this oversight. A 2.2 can become a 2.1, and some fishy schools can masquerade as legitimate academic institutions. Where the role requires certain minimum educational achievements, ask the candidate to furnish you with copies of their college transcripts and eliminate any doubts.

Don’t call the number provided

Putting down a fake reference is the oldest trick in the book, and it can be difficult sometimes to discern if a reference is who they say they are.

The person you are calling could be the applicant’s friend or family member, or indeed a colleague who does not hold a managerial position. Where possible, just call the company and ask to speak to the person named. This will ensure the person you’re talking to is who they say they are.

Fill the gaps

Finding out a candidate’s reasons for leaving a previous job is important, but sometimes applicants may not be entirely honest with you on this point, especially if they’ve been fired.

Therefore, it’s important to read between the lines with a CV and try and identify gaps; where a gap of say a couple of months is common between roles, it’s possible this person may have a history of being dismissed.

RELATED: How to hire a dream team.

Article by Peter Flanagan.

Images from Shutterstock.

This post was originally published here - https://www.thinkbusiness.ie/articles/how-to-spot-a-cv-lie/ on

Monthly Archives: August 2016