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Business Blog

How to Organise a Business Fundraising Event

Many business owners have certain causes that they like to support through charitable means. Hosting a fundraising event both helps your worthy cause and positions you as a business which takes its social responsibilities seriously If you are in the process of event planning, here are a few tips which you can use to help you along the way.

 

Choose a Cause and Goal

If you have yet to choose a cause which you are going to donate to, this is the first thing that you want to do. Perhaps it will be a one-off event or a charity which you would like to align your business with. Once you have settled on this, it is time to decide on the amount of money that you would like to raise. Remember that you will also need to deduct all expenses of holding the event.

 

Choose a Type of Event

The type of event depends on who you will be inviting and how much you are planning to raise. Perhaps you simply want to organise an elegant dinner party with a charity auction at the end. Maybe you would like to arrange a fun run complete with obstacles and color powder. Ask yourself whether charity is the only point of your event or you would like to do some networking or general publicity. This will all have a bearing on the type of event you choose.

 

Budget Carefully

When you run any kind of event, you need to make sure that you have done all your budgeting carefully. A few of the things which you need to include are staff, catering, transportation, entertainment, venue hire, and anything else that you need to make the event a success. Always leave a bit of extra room in your budget for any unforeseen costs which may arise down the line.

Set-Up in Advance

To make sure that everything isn’t done at the last minute, you should set up everything well in advance of the event date. Think about where it will be held, what food will be served, whether or not there will be entertainment and what the event itinerary will be.

 

Marketing

Now is the time that you want to start raising awareness about your event. You may want a small occasion with a select group of people or something larger which generates a lot of coverage. If it is the latter, you need to draw up a marketing plan including direct mail, PR, an email campaign and social media.

 

Sales

The whole point of running this event is that you raise money for charity, so there needs to be a clear procedure in place for making ticket sales or accepting donations for the event. You may have several fundraising activities planned on the night as well.

Finally, you need to make your last preparations to ensure that everything goes smoothly on the day. Make a timeline of how everything will flow throughout the day and stick to it as closely as possible.

Business Blog

Do You Have Efficient Business Operations?

Are you in business? If you’re reading this, there’s a pretty big chance you are! However, when it comes to making sure your business is the best it can be, there’s a few checks you should make from time to time! Business can change in the blink of an eye after all.

So, your business operations are always something you’re going to need to keep working on. When you’re first starting out in business, or you have a startup plan in mind, use this time to make sure you’re fully informed on the most efficient ways to get things done. To take a company as far as it can go, with all the right expansions, remaining vigilant is the first step. Here’s a few recommendations for you to check out.

Are You Communicating Enough?

When you and your employees don’t talk to each other, it’s going to cause a lot of problems. People need to collaborate when they’re in business, so when communication is thin on the ground, nothing is going to get done the way it needs to! This is the first thing to change; for the good of your company, hold meetings and get feedback whenever you can.

Typically, as the boss, you’re at the top of the chain of command. You issue out tasks and directives to your employees, but that’s not where it should stop. It’s a lot easier to keep up with what your workers are doing, which means you can direct them where they’re going wrong before any mistakes occur. Praise them for what they do right, as it garners more and more of the same results in the future.

 

Are You Getting Paid?

This is something we all worry about when we’re trying to get our companies off the ground. Of course, when you’re in business, this is what makes the world go round. Yet, there’s a lot of difficulty that can go into this!

Try out the use of invoice factoring companies, which includes a middleman that immediately pays you for any work done, and then the client has to hold their own end in their own time. It completely removes the issue of not getting paid on time and losing profits because of an unruly client, and you can move on with your business to bigger and better heights as soon as possible.

 

Do You Have an IT Support System?

Most of the business we conduct in the modern age is done online or via a network, and that means we depend on it working 24/7. This is why you need an IT support system in place to report any bugs or crashes to.

If you can’t get your filing system up and running when you walk into work one day, you’re going to be behind on all your tasks for the week at least. There’s a whole trickle-down system when it comes to delays, so cut them off at the root.

Your business operations depend on your awareness!

Business Blog

Avoiding Bankruptcy At All Costs

Business leaders all live in fear of one common word – bankruptcy. We all know what it means. If loans and outstanding debts you have are impossible to bear the brunt of, then going bankrupt can help you completely wipe off the necessity to pay them. Sounds good right? Well, not entirely. This will always mark your credit report, which can make gaining pretty much any financial agreement practically impossible. It will also be a black stain in the business world. When potential future business partners do their research on you, you can be sure that they will find this information and will be less inclined to respect your viewpoints or even take business with you in the first place.

Bankruptcy is not a horrific place to inhabit, but it’s inconvenient through and through, and can truly limit your entrepreneurial ambitions. This is not to mention the emotional cost of seeing everything you hoped to build fall into liquidation. But how can you avoid such a fate? What should you preemptively be hoping to carry out in order to make sure this is not considered a necessary and unfortunate option?

 

Sell Assets Immediately

Selling assets is an important thing to do when you know you’re unable to meet the cost of your debts. Try to find the best places to sell them. For example, certain machinery might be sold better at auction, while others might find a better place on eBay. For example, instead of selling a whole job lot of your firm’s IT equipment at an auction for convenience, selling each computer individually on eBay can net you a further amount of profit.

It’s important to know and research the correct areas of sale, and you can do this by browsing markets yourself. Make a list of the essential and non-essential items for sale. Sometimes, selling everything your business owns is much better than becoming bankrupt, and gives you time to ascertain a new means of income to overcome these burdens.

 

Debt Consolidation

Debt consolidation is useful through and through. It offers us the means to compound (or consolidate of course,) all of our loans into one monthly payment at a select firm. This will provide you with the funding to pay off your loans to multiple creditors, and combine those into one creditor more understanding of your situation. The best debt consolidation loans will require a small amount of research, but it’s worth it in order to find the most favorable terms. Sometimes, the peace of mind this gives you is worth the cost of admission alone.

 

Labor

Sometimes, providing unused and unsold items, performing free work and services or another arrangement can take the place of paying debts back at a firm. This can be harder to negotiate, but it’s also worth a try. Sometimes businesses find that your material good is more worthwhile to them (especially at a cut rate,) than trying to aggressively pursue your repayment of their loan. While this is not always a possible option, trying to achieve it is always preferable to going bankrupt.

 

We hope these tips help you.