Category: <span>Business Blog</span>

Business Blog

How Borrowing Can Boost Your Business

Borrowing is something humans have been doing for a very long time; the idea of loans has existed since time immemorial and interest has always been a way to get people to pay it back on time. Yet, this idea of borrowing what you need from other people because you can’t get it yourself is incredibly useful, and it’s stuck around for good reason. When it comes to business, there’s a lot you can do with a bit of borrowing. So often enough when you’re in business, you’re not doing it alone, and you can really complement this by borrowing a few things from others around you. Invest effort into these ideas.

 

Taking Inspiration

Looking to other people for ideas isn’t bad when it can take your business higher than it is now! Seeing someone using an idea and then refining it for other purposes, or even just being inspired by someone else doing something well, can bring in a whole new level of custom for your company

We’re not talking about copying other entrepreneurs here, but all throughout history people have seen what’s going on around them and made something else out of it. It’s a good business practice when you can be original; take a marketing campaign for example. Where did your competitors get featured? Can you get the same deal or featured spot they did? Simply doing a bit of research for your own market can mean you find so many new avenues to go down!

Taking Out a Loan

Loans are a good investment when they have a fixed interest rate and can be easily paid back on a schedule. That means, when you’re in business with plenty of revenue to cover something you borrow on the side, they’re going to be a good idea for taking you where you want to go.

Expansion is often cultivated via taking out a loan, and there’s none better for business purposes than short term personal loans. These won’t take a huge cut out of your business, and if you can afford to take one out and pay it back, it’s a good sign you’re headed in the right direction.

 

Outsourcing Employees

Bringing in outside professionals to do tasks traditionally performed by your own employees can often sound like a shady deal, and yet it’s one of the best and safest things you can do for your business!

You can very easily cut down business costs by bringing in the right kind of people on a short term basis, and still get fantastic results from it. When you know someone is absolutely specialised in a field, borrowing their skill for a few weeks can build you some good relationships amongst the outsourcing community, and make your business a lot more successful as your resources are freed up for elsewhere. Outsourcing doesn’t have to be difficult to do either.

Borrowing can very easily boost your business, and there’s so many ways to do it! Try some of these ideas today.

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!