The Opportunity for Irish SME’s

The Irish economy has come through an economic crisis of unprecedented proportions since 2007, but over the past couple of years it has started to emerge with a level of vigour and momentum that few would have predicted. The recovery that effectively commenced during 2014 has been sustained and built upon in 2015. The external trade performance continues to be strong; manufacturing activity is vibrant; the labour market is continuing to improve; the public finances are getting steadily better; construction activity is bouncing back from a very low base; tourism is doing very well with the number of inward visitors to the country growing steadily; and consumer spending is gaining strength. In other words the economic recovery is becoming more broadly based and this trend looks set to continue. Over the next couple of years GDP looks capable of expanding at an annual average rate of around 4%, assuming that there will be no significant external shock.

Ireland has been fortuitous in the sense

that factors outside of the country’s control have developed in a very favourable manner. Two of the country’s main export markets, the US and the UK have been doing well and this has helped insulate the economy from the weakness in the Euro Area; the euro has fallen significantly against the dollar and sterling; and oil prices have fallen sharply. In addition, the domestic policy pursued in relation to the public finances and the banking sector is gradually proving successful. Ireland’s recovery is due to a combination of positive external developments and generally sensible domestic economic policy.

The Employment Imperative

One of the most important areas of the economy is the labour market. From an economic and social perspective, unemployment is an evil that causes severe social problems such as forced emigration and inequality; it imposes a major burden on the Exchequer through the loss of payroll taxes and increased social expenditure; and it represents a loss of potential output in the economy. Consequently, one of the key metrics for success or failure should be the number of people at work in the economy. Ireland is now doing reasonably well on that count. The number of people unemployed declined to 206,500 in August, which represents a decline of 66,800 over the past 2 years, and the unemployment rate stood at 9.5% of the labour force down from a high of 15.2% at the beginning of 2012.The latest employment data from the CSO show that in the second quarter of the year the number of people at work in the economy stood at 1.96 million, which represents an increase of IDA client companies make the following contribution to the Irish economy:

  • They pay €8.5 billion in wages and salaries;
  • They purchase €2.6 billion in materials in the Irish economy;
  • They purchase €11.3 billion in services in the Irish economy;
  • They pay corporation tax of €2.8 billion;
  • They account for €124.5 billion in exports of goods and services; and
  • They engage in total expenditure of €1.4 billion in in-house R&D expenditure.

In summary, IDA supported companies make a very significant economic and financial contribution to Ireland and the potential for further growth is very significant.

In its latest strategic outlook the IDA has set a number of ambitious targets for future FDI.

Specifically, by 2019 it is seeking to achieve the following targets:

  • Direct employment of 209,000 in companies supported by the IDA by 2019;
  • 900 new investments;
  • Grow the portfolio of client companies from 1,195 to 1,350;
  • Win a greater share of investments made by European and Growth Market FDI companies;
  • Win a cumulative €3 billion in new RD&I investment projects, including in-house and collaborative RD & I projects with companies and universities, and encourage 120 additional companies to engage in R&D across the FDI portfolio; and
  • Increase Irish economyexpenditure from €22.4 billion in 2013 to €26.8 billion by 2019

The Growth Potential For The SME Sector

FDI makes a very significant contribution to all aspects of Irish economic and financial wellbeing. It has set ambitious targets for

2019, but based on the long-term track record and recent trends, such targets look eminently achievable provided Ireland preserves its corporation tax status; its focus on supplying a well educated English speaking labour force with other language skills; and preserving a competitive cost environment, where the ability to do business is strong.

The big question for the indigenous Irish economy, which is dominated by Small and Medium Enterprises (SMEs), is the extent to which the growth in FDI can feed into the SME sector to a much greater extent than we have seen in the past.

The SME sector accounts for around 54 per cent of total employment in the Irish economy, and 70 per cent of total private sector employment.

Most people recognize that the re- building of the Irish economy over the coming years will have to depend heavily on the SME sector. This is not to suggest that the multinational sector will not have a role to play, in fact the very opposite is the case, as demonstrated by the recent track record and the targets set by the IDA. However, in an increasing competitive global environment for FDI, indigenous SMEs will have to play an increasingly significant role in the future development of the economy, and particularly in the regional economies that are currently lagging the Greater Dublin area in terms of economic activity and employment creation.

The SME sector is incredibly diverse. It ranges from single person operations to operations with up to 500 employees; and from trout farming, to car sales, to engineering, to IT, and a lot more besides. Despite the wide diversity within the sector the issues facing it are very similar.

Lack of demand

The lack of demand in the economy over the past few years has obviously been the biggest issue. At a more structural level however, it is clear that many SMEs are very good at doing what they do, as in manufacturing a product or providing a service, but they are a lot less good at developing other necessary attributes of the business such as marketing, developing export potential, innovation, and driving efficiencies and economies of scale in the business.

A major challenge for many small Irish companies is to move from Small to Medium to Large. Many lack the capability of completing this business transformation.

Those multinational companies who invest here can play an increasingly important role in developing the indigenous SME sector.

Between 2015 and 2019, the IDA is targeting an increase of 155 extra multinational companies in Ireland, taking direct employment up from  174,488 to 209,000, representing an increase of 34,512 in total FDI employment. Based on IDA employment multiplier, this would result in the creation of an extra 24,158 indirect jobs, taking that total up to 146,158. This would take the total number of jobs supported by IDA sponsored companies up to 355,158 from 296,488 jobs at the moment.

It is estimated that the value of global sourcing by Irish-based multinational companies is around €80 billion, with just €11 billion in services and €2.6 billion in materials sourced in Ireland. A large part of the expenditure on goods and services is likely to be on services such as water, energy and other utilities, which cannot be sourced elsewhere but locally.

Trading potential

Potentially, the multinationals operating in Ireland offer enormous trading potential for indigenous SMEs, and could alleviate the pressure to grow export markets to achieve scale, a process that many Irish companies find very difficult to achieve. However, this is easier said than done.

One difficulty for Irish firms in securing greater trading linkages with multinationals  is the fact that many operate centralised global procurement systems and significant changes to global supply chain management approaches.

To exploit the potential growth emanating from the multinational sector in Ireland SMEs need to achieve a number of attributes. They need to be of sufficient scale to satisfy the requirements of a demanding client base; they need to be efficient in production and priced competitively; they need to be able to comply with multinational procurement systems; they need total quality assurance; they need high quality financial management; they need high quality HR management; they need very strong IT systems and capability; they need top quality customer service systems; and they need to engage in R&D and be as innovative as possible.

All of these attributes are essential if the potential to service a very sophisticated and demanding multinational client is to be realized. Most Irish SMEs are nowhere close to achieving all or even some of those objectives, but they should be given whatever assistance is required to help them move up the value chain. State agencies should provide whatever support and mentoring necessary, but every effort should be made to get FDI companies to help SMEs achieve the objectives. This would be good for the multinationals, the SMEs and the economy in general.

If the necessary attributes were to be achieved and success attained in servicing SMEs, the projected number of indirect jobs supported by FDI companies in 2019 could easily be 75,000 higher than the projected 146,158 jobs.

This clearly is an agenda worth pursuing, because if the Irish SME sector were to achieve success in servicing the FDI sector to the greatest extent possible, it would put them on to a platform from which building export capability would be the next logical step.

The Opportunity for Irish SMEs
Jim Power, Economist

This is an extract from the CPA Ireland Report – Charting a Course for Growth. The report is being serialised exclusively on smallbusinesscan and other articles will be related in the coming weeks.

Jim Power

The post The Opportunity for Irish SME’s appeared first on Small Business Can.

5 Personal Finance Books to Add to Your Reading List

What have you been reading this summer? Every person reading this post likely has a different answer. Some prefer lightweight reads in the summer months such as young adult fiction or romance novels. Other prefers historical fiction, political satire, or biographies. Maybe sci-fi and fantasy are more your speed. Whatever you have been reading, hopefully you’ve enjoyed it.

Now, let’s talk about a few books you should be reading as your autumn closes out. When it comes to personal finance books, everybody could use a little bit more information, and a little more education. Whether the authors are giving advice on saving money, living on a budget, or investing, books on personal finance are great additions to anybody’s summer reading list.

This is why we have put together this list of 5 books on personal finance that you should read before the weather turns cold.

Women and Money – Suze Orman

Suze Orman has provided insightful financial advice to people for decades. She continues this pattern with “Women and Money”. Suze Orman recognizes that when it comes to money women need both education and empowerment. This book includes a 5 month program that helps women establish financial independence and personal freedom. Many books provide a lot of heady, high level information.

Ms. Orman takes a more practical and relatable approach providing women with specific steps that they can take towards improving their financial situations.

Why didn’t they Teach me this in School: 99 Personal Money Management Principles to Live – Cary Siegal

Cary Siegal wrote this book upon realizing that his children and their peers would graduate from high school and college without any formal, personal finance education. In spite of covering 99 principles, this book is quite easy to read and the lessons are conveniently parsed out.

This book targets young adults, but there is valuable advice here for any age group.

The Success Principles: How to get from where you are to where you want to be – Jack Canfield and Janet Switzer

Do you have plans and life goals that you have yet to achieve? Maybe you would like to start a business or go back to college. Whatever your plans are, it can be easy to feel stuck where you are, and getting to a place where you have achieved your goals can seem impossible.

This book is a goal-oriented book that gives financial advice that relates to conquering your next challenge. The authors include daily action steps, ways to increase your confidence levels, and practical advice on living in the modern age.

Rich Dad Poor Dad – Robert Kiyosaki

Rich Dad Poor Dad is a book about money lessons learned from two different men and the influence those lessons had on the author. The lessons he learned from the rich dad in the novel gave the author the opportunity to retire before the age of 50. In this book, he passes that knowledge on to others.

Many readers will be surprised to find that what they have been taught about money is completely off base.

Total Money Makeover – Dave Ramsey

Dave Ramsey is a well-known author, financial guru, and a nationally syndicated radio talk show host. Ramsey has a very easy to read writing style, and provides a lot of great practical advice to his readers.

The best endorsement of Ramsey’s is advice is simply the success that his readers and listeners have achieved by following his advice. Many are put off by Ramsey’s tendency to be extreme in his rhetoric, and that is a valid criticism. However, if that can be ignored in favor of focusing on just his financial advice, readers can learn a lot.

The post 5 Personal Finance Books to Add to Your Reading List appeared first on Small Business Can.

Social Selling: Generate More Sales using Social Media

Of course selling has always been social but technology has now led to different behaviours on the part of buyers and sellers. Sellers who effectively use social media now outperform other sales professionals and much of today’s buying process is completed before the buyer completes the purchase.

Social Selling, Generate more Sales using Social Media 2

Mespil Academy is delighted to announce a special half-day’s training session facilitated by International Social Media trainer, Greg Fry, on how to generate more sales using social media.

Topics covered will include:

  • Using advanced searching techniques to identify leads
  • Creating content to attract customers
  • Building a social sales funnel
  • Ensuring customers become sales advocates
  • Using personal branding to establish your reputation

Grey delivers regular social media training and workshops, and has worked for the likes of Ulster Bank, Microsoft, Fáilte Ireland, UPC, Abbott Labs, Symantec, Coca Cola, the Digital Marketing Institute and the Digital Skills Academy.

Greg will be joined on the day by some special guests and industry leaders who will take part in a breakfast discussion on using social media for sales.

This is the second live training event run by Grey and Mespil Academy. Earlier this year, they ran an event on social media strategy. The following video gives an overview of what happened at that training day and what to expect from the next event: ‘Social Selling: Generate More Sales using Social Media’.

Tickets can be purchased online for a special early bird price of €99 and the event takes place on the 20th of October at the Chartered Accountants House, Dublin 2.

The post Social Selling: Generate More Sales using Social Media appeared first on Small Business Can.

A Startup’s Guide to Business Insurance

You’ve finally reached the end of the grueling journey in creating your first startup. We know the feeling, and we know how good it must feel to be here at the end. But before you start celebrating we need to cover a very important to do. Insurance. Your business needs it. After a grueling process of forming your company, you might have forgotten that you could lose all that hard work in the blink of an eye if you go forward without checking for the proper business insurance quotes. Below you will find business insurance tips that will help your startup stay safe and profitable for years to come.

Key Person Insurance

As a business owner, many people depend on you. Customers and employees alike look to you for leadership and guidance. Your company could suffer if you die without a mechanism in place to replace your expertise. If you have key person insurance, you have the assurance that your business has the means to continue if you or your key employee dies.

Upon death, key person insurance pays a sum to the company that will help the company recruit and train a replacement that can fill the shoes the death empties. When you buy this insurance, your key people will know how much you value them, building a cohesive team that will loyally work to achieve your goals. Vendors and banks also like to know you have key person insurance because it improves the chances your company will pay bills after your demise.

Directors and Officers Professional Liability Insurance

If you formed a corporation, you might need to buy directors and officers professional liability insurance. If you hold a board position, if your board of trustees makes controversial decisions, or if your products or services have the potential of harming people or property, people can sue your business for damages. When you have this type of insurance, your insurer will pay for claims made against you. With so many people in our society looking for ways to gain wealth through litigation, you cannot afford to go without this type of insurance.

General Liability Insurance

Regardless of where your business operates, its facilities represent a potential liability that could destroy it. General liability insurance provides coverage if someone gets hurt while on your premises or if a fire or natural disaster destroys your business property. According to personal injury attorneys, in cases of premises liability, a judge and jury look at several factors when determining if the injured person should receive a settlement, but ultimately a property owner is legally liable for injuries suffered by others on their premises. Your insurance will also cover problems resulting from false advertising, copyright infringement, and other acts that hurt others without bodily injury. You could incur substantial legal and medical costs if one person gets hurt on your business property. So buy insurance with the optional coverage you need to protect your firm.

Workers Compensation Insurance

If an employee gets hurt while working for your company, you could be liable for thousands of dollars of medical expenses. Workers compensation insurance makes sure your employees get the care they need for job-related injuries while protecting you and your company from liability. Laws and regulations where your business operates might mandate that you buy workers compensation insurance. As you shop, keep applicable requirements in mind to make sure you buy coverage that meets your legal and business requirements.

Business insurance for your startup can help your company survive lawsuits, accidents, deaths and other routine occurrences. Although you might face the temptation to avoid buying insurance to save money, the reasonable costs associated with business insurance makes it worthwhile in the end. So don’t think you’re cutting any corners by not getting insurance. What you will be doing is creating more of a headache later on down the road if you skip this very important step.

The post A Startup’s Guide to Business Insurance appeared first on Small Business Can.

Complacency – The Death Knell of Small Business

Let’s look at how complacency effects business.

1. True Customer Engagement
What do I mean by true customer engagement? I mean not just firing information and content to a regular list of current and potential customers, but more importantly, it means listening to what they have to say. It means a consistent engagement, across your customer journey timeline.

There are many tools available to allow you to listen to your customers and your competitors customers online; – Talk Walker, Google alerts, trip advisor, Facebook, Twitter, etc. But one of the most successful is one of the oldest – sitting down with your existing clients and asking for their opinion. This request needs to be authentic, genuine and heartfelt. Be prepared for and to act upon uncomfortable feedback. MAKE SURE YOU THANK THEM FOR THEIR FEEDBACK.

2. Innovate
It is possible for every product or service to be innovated, switched up or turned on its head. Combinations with other providers to create collaborative ventures can initiate something that is unique and a major differentiator from the market.

Use your consumer feedback, market research and have regular innovation meetings with staff and maybe even include your customers, with the sole objective of making your proposition better.

3. Keep Your Focus
Never lose sight of what solution your customers are purchasing from you, rather than what you think you’re selling.

Convenience, quality and speed may be some of those reasons. The why someone does something is more important than the how. If you take time to understand your clients or prospects “why”, it will be the key to unlocking your success and avoiding complacency.

4. Value your customers
Everyone wants to feel important and that the business they bring to you is valued by you.

Recognition can come in the form of loyalty vouchers and discount but one of the simplest and most effective methods is to tell them in a genuine manner. Where achievable, not by email or telephone call, a handwritten note/letter, lunch, coffee or in way that is personal to them, e.g. tickets to that show they wanted to see will have a long lasting impact.

5. Consistency
Deliver a uniform customer experience across all aspects of your business.
I know this may sound strange, especially in line with my comments on innovation. But once a client has gotten to know you, they almost certainly want to know that they can count upon you and that you are reliable. The smallest of hiccups can have the largest of impacts.

If you endeavour to make these elements a part of your customer experience design process, you will almost certainly keep ahead of the competition and provide solutions for your clients that will ensure their long-term loyalty.

As always I appreciate your comments, your feedback and the sharing of any of my blogs.

The Business Therapist – making your business better.

The post Complacency – The Death Knell of Small Business appeared first on Small Business Can.

How to Create an Inventive Marketing Strategy on a Budget

We’ve all been faced with a situation in life when we haven’t necessarily got the funds to simply buy what we want or need. Being canny with a budget and creative in our approach is an important part of life. Having these skills in the business world is an essential requirement.

When it comes to marketing it can be daunting to deliver a strategy on a modest budget. Traditionally making a big noise required the budget to back it up. Large print ads, TV commercials, celebrity endorsements, radio jingles, billboards – all tools in the armoury of marketing departments and all relatively expensive.

Yet the modern world – and the technology that the world is obsessed with – plays into the hands of those looking to be canny and creative. There are essentially three things you must do to create an inventive strategy when on a budget: plan properly, embrace new technology, and share your wisdom.

Plan

If money is tight then you need to get it right. You need to be specific and you need to plan everything properly. How much money do you have exactly? What does your strategy have to achieve? Who does it need to reach? Ask yourself important questions and ask important questions of your target market so that you are clear before you begin.

Often by focusing solely on the essential goals you can deliver a focussed campaign that is successful. By setting out a good, well-researched plan you can track performance and monitor costs at all stages.

You also need to plan in advance. Rushed, last minute campaigns are likely to attract greater cost.

Digital can disrupt

One of the very best things about the technological advancements of recent years when it comes to marketing is that they have greatly reduced the cost of getting your message across.

Expensive print runs for big batches of flyers can be replaced, for example, by sending out a large batch of SMS messages. It’s quicker too. If sending too many SMS sounds like it’s going to be painful for your thumbs don’t worry. Technology exists to send hundreds or thousands of messages in seconds. People much prefer a text, too, to a leaflet pushed through their door.

Videos no longer need to be made for television or cinema screens – YouTube and social media have reduced the barriers to getting these to your customers.

You should harness social media well. This is your chance to show a human face for your brand and create content that can be shared by your customers who, in this scenario, act as ambassadors for you. It’s powerful, effective and does not come with a big cost.

In general you should think about how digital technology can deliver some of the traditional marketing methods at a fraction of the cost. Stage a virtual trade show, for example, use eye-catching poster images on Facebook instead of billboards and pay for web banners instead of print ads.

Share wisdom

Don’t confine yourself to the short term. One way to boost your marketing efforts is through content. Set yourself up as a thought leader through sound, well-written blog posts on your own website and offer your services as a guest writer for good, relevant industry websites.

In the long-term being a thought leader will establish your brand as something to be respected and will help you to have greater authority when marketing new products, services and practices. If you have a flair for writing and interesting thoughts to share, this can be a lucrative long-term way of extending your marketing efforts in a cost-effective way.

Plan properly, embrace digital and use content smartly and you’ll deliver a winning creative strategy at a cut price.

The post How to Create an Inventive Marketing Strategy on a Budget appeared first on Small Business Can.

5 Innovative Social Media Tips to Grow Your E-Commerce Business

A report by Hubspot shows 365% growth of social media use in the past 7 years. Not only this is an astonishing figure, but also shows the vast number of customers that online businesses can attract. In another report, it showed that more than 70% people on social media prefer to make purchases online. This shows how the world is transitioning from a physical platform (real stores) to a digital platform for shopping and this is mainly due to the increased online presence on social media. But as innovative the social media platform is, business owners must also think of innovative ideas to attract more and more buyers and eventually turn their businesses into brands. Here are a few tips to attract the customer’s attention on social media and help grow your e-commerce business.

1. Grow Your E-Commerce Business with User Generated Content

The best way to engage your customers or clients is by encouraging user generated content. It provides a platform to your customers to showcase their creativity but also helps you promote your brand. So ensure that your e commerce platforms are equipped with social media tools that promote customer engagement. You can also look for the best e commerce platforms on websites like FinestShops and others. Guest post by select customers, photography contests and any campaigns that feature your customers not only increases their interest but will also ensure their loyalty. Maintaining goodwill is one of the most prime aspects of a business and promoting the customers is a great way of establishing yourself as a brand.

2. Inspirational Quotes

Promoting your products through an inspirational quote can be really effective if served in the right manner. In a recent study it was found that inspirational quotes by famous personalities get a 19% boost in shares on various social media platforms like twitter and Facebook. Any quote that is funny, motivational or educational is increasingly shared by social media users creating a great area for marketing. One of the great examples of this is the Never Settle Campaign by clothing brand Ugmonk that was coupled with an inspirational Quote from Steve Jobs. This not only allowed people to share their product on social media but also worked on an inspirational level rather than a promotional one.

3. Video Campaign about Upcoming Products

We all know that watching a video is more engaging than reading and hence it is also important to include a video campaign to promote your business. We are pretty familiar with video ads through the popular modes of entertainment like radio and television. As the world has moved on to the digital platform through the internet, the need for audio visual content still remains. A sneak preview video of your upcoming products not only creates more curiosity in the customers but also keeps them engaged about the product launch. Nevertheless, this should be served in an innovative manner and should not appear as a direct advertisement.

4. A Little Self Promotion Doesn’t Hurt

While the internet world hates people who brag, adding a bit of humor and cheekiness can work wonders. Showing some personality while making a self promoting statement helps the customers identify your business as an entity and not just a company. Try to have fun when trying to tell people why your brand is the best, instead of taking a more direct or serious approach.

5. Using Trending Content to Your Advantage

Using the current events to your advantage might be considered as a cheap trick for most businesses. But when done ethically, an ad campaign bundled with trending content can work wonders for your online business. Coupling your products with a trending hashtag on twitter can significantly improve your viewership. It not only promotes your products but also helps you engage in different conversations that were started by other brands or celebrities.

Not only social media emerged as a boon to the people across the world but has also opened several opportunities of business and created a whole new market. Hence, the owners of the online business must always think ‘outside the box’ to attract and engage more and more customers. The above tips can be implemented for most business that operate online and can certainly attract more customers and media attention.

The post 5 Innovative Social Media Tips to Grow Your E-Commerce Business appeared first on Small Business Can.

SEO Tips – If You Build It They Will Come

So you’ve got the new shiny website that you have spent an age designing and developing to get just right. You’re finally happy with your website and it has gone live. Well done, you’ve got this far, but your work in getting search engine optimization for your website has just begun. Good SEO, content and social media are crucial to you getting your desired results. Read on for some invaluable SEO tips…

Good content needs to be planned and continued throughout the website’s life. The website design and development is just the start, the future of the website needs to be mapped out, according to the whole point of the website, why the website was created in the first place and how you are going to get results.

Have clear objections

What are your objectives for your website? Do you need to drive sales, create awareness, influence or educate?

SEO – Get the Google love

First things first, you need to get found by google, set up google webmaster tools and google analytics. Verify your website with Google, add your google sitemap to the root folder and to google webmaster tools. As your website gains traffic you will be able to analyse what your website is getting found for and how you can improve upon this.

Promote, promote, promote

You need to promote your website with a mixture of SEO, content and social media. With the right mix and a lot of hard work and perseverance you will get your site ranked by google. Your aim is to get ranked close to these and hopefully above these with good SEO, content and social media so that you will get found by your customer base. To be successful in this you need to have a sound technical infrastructure for good SEO.

Google webmaster tools have some great checklists and blogs on SEO that you should really immerse yourself in. You also need to provide fresh, new content consistently and always. Good quality content related to your website is what you really need to work on, this takes a lot of time and is pretty relentless. Just think your website is new on the digital scene, competing for google love with a plethora of already well established brands. How to even start to compete with them might be mind boggling. With the right mix of SEO, content and social media and sheer hard work you will get there eventually!

Blog

You need to have a dedicated blog as an intrinsic part of your website. You need to have regular blog posts related to what your website specialises in. You need to understand your customer base, who are you targeting and what for and with the right blog content you will succeed in getting these to your site and get results. Blogging once you get started has a way of gaining momentum as you write your first couple you will then organically come up with content for more blogs.

How to best equip yourself for blogging, become a voracious reader of everything related to your specialist subject, do the research, check out the competition, what are they providing content on, and what are their target audience interested in reading more on. Be ahead of the game in new trends and developments and blog regularly on these, providing unique content that informs and gets results and you will have your target audiences attention and keep them coming back for more. It’s not nuclear science but once you do get content right you will reap the benefits.

The post SEO Tips – If You Build It They Will Come appeared first on Small Business Can.

Marketing Tips and Techniques for Entrepreneurs

Marketing can be seen as an art form in many cases and you need to be aware of the various techniques that will showcase your business ideas in the best light. If you find that you are struggling to get your business off the ground, it could be due to the possibility that you are missing out on something that you can easily incorporate into your marketing strategy. Read on for some key marketing tips for your business…

Get Visual

We are perceptive and visual people, which is why we are always drawn to movies and fantastic works of art. If you want to get your company noticed, you have to start using business stationary and advertising to sell your company. A great option is to use brochure printing from Helloprint to reach a bigger customer base further afield. Other options to use include business cards, flyers, banners or leaflets in order to get your brand out there and start making valuable connections with potential customers.

Showcase Benefits

Instead of focusing solely on the different features that your company has to offer, showcase the benefits that choosing your brand can have on potential customers. Lean towards these benefits whenever you are trying to sell to a new customer and they will begin to realise that your business can provide solutions to their problems.

Marketing Strategy

You need an innovative and productive marketing strategy to lift your business off the ground and see it blossom. Make an app for your company and be available via mobile and social media. According to www.onboardly.com it is important that you test your marketing ideas on small batches that last a period of two weeks. This is so that you can measure the ‘successes and failures of these two-week experiments you will have a better idea of what works and what doesn’t’.

Listen

You need to learn to listen to not only your customers, but other successful business leaders who will be able to give you valuable advice. Ask questions and learn as much as you can about the relevant market in which your business occupies. Research other companies that are similar to yours and discover what has worked for them in the past and what didn’t.
Pay attention to the trending subjects online if you plan to use content marketing in your strategy and seek those who are in need of your company in order to attract new clients/customers.

Trustworthy Team

A successful business always has a talented team of people working behind the scenes to ensure that the business runs smoothly. You need to weigh your strengths and weaknesses up and then hire people who will be able to strengthen those weaknesses. According to Forbes, hiring the right talent is essential to your business’ success. Don’t rush into the decision. As an entrepreneur it may be difficult to come by the finances to be able to hire a talented team in the first place which is why it is important to take on the right people, who are passionate about the business and who are able to advance and enhance it.

The post Marketing Tips and Techniques for Entrepreneurs appeared first on Small Business Can.

Seven Ways to Save on Your New Business Building

Buying a new business building can be a costly and time consuming process. But there are a few proven ways to reduce both the short term and long term costs. Use these seven ways to save on your new business building and make sure you’re heading in the right direction financially.

Work with a Real Estate Professional
The building you purchase and the subsequent location will have lasting consequences for your business. Choose your building according to both your present and projected future needs. A real estate professional will have better access to a wider range of properties and will also advocate for your needs and dislikes. As a result, a real estate agent can be the negotiator you need, and use their professional skills to get you a better deal.

Choose Wisely
Your new business building will require the employment of many different contractors. While a finished building may only require a few touch up projects, be sure to carefully select your contractor. Avoid accepting the first bid, or rushing through the process. Thoroughly check references for contractors through asking their previous clients for reviews. Choosing the right contractor will be financially beneficial in the long run because you will most likely have need of their services in the future.

Project Management Software
Buying and fixing up a building for your business will be a long term project with many complex tasks. Using project management software will allow you to stay within the budget, while making sure deadlines are met. Project management allows you to stay focused while reaching your business goals. Use a good organizational or software system to keep track of bills, project progress, and future tasks.

Understand the Math
It is important to understand the financial costs of buying a business building. There are also real property costs, such as real estate taxes and settlement costs. Your constructing assets will be part of your cost basis, which may include labor, materials, contractor payments, and inspection fees. Be sure to work with a certified accountant to maximize your savings. Learn more about the financial costs of buying a building from the IRS.

Permits and Licensure
Consider establishing a limited liability company (LLC) as the owner of the building. This will provide legal protection through limiting your personal liability and protecting your personal assets from potential lawsuits. Buying a building through an LLC also guarantees privacy, as LCC records are not public property records. Finally, be sure to obtain the correct local, county, and state licenses and permits for your business and industry.

Save Energy
The good news is, there are plenty of ways to save energy through making adjustments to lighting, office equipment, and the HVAC system. For example, use compact fluorescent lamps (CFLs) and replace any incandescent ‘exit’ signs with LED ‘exit’ signs. Be sure to install motion sensitive lights in areas that are occasionally occupied, such as break areas or conference rooms. Purchase EPA approved, Energy Star equipment, and plug load controllers that can shut down inactive electronic equipment. Laptops use over 80 percent less energy than desk computers, and you can keep your HVAC system in top shape through regular, preventative maintenance.

Lawn Care
Using a professional landscaping service will save you time, which in turn will save you money. A BBB business reviewed lawn care service company will have commercial-grade equipment and tools which will save a lot of money in the long run, since lawn maintenance requires a variety of supplies and equipment, such as fertilizer, leaf blowers and lawn mowers. Landscapers will have the expertise and know how to properly care for plants and trees. And most services like Pro-Lawns aren’t just hired for the pleasant seasons, but also come in handy during winter for snow removal in St. Louis or wherever your business is located.

As a business getting into a new building, you can save a lot of money through using competent real estate agent and contracting professionals, utilizing project management software, understanding finances and licensure, and can cut costs through energy efficiency and by using a lawn care service. Use these tips to help you get started saving more on your next building.

The post Seven Ways to Save on Your New Business Building appeared first on Small Business Can.