Small Business Tips and Ideas - BizSieve.com

Recurring Meetings in DC? Surprising Ways a Condo Can Save Your Business Expenses

Small business owners understand the expenses associated with traveling. In addition to the flight, airport fees and meals, you could be talking about serious costs, and you haven’t even booked your lodging yet. The following are advantages of condominium ownership, and ways it can improve for your business savings.

Great Resale Value

Washington DC is one of the few areas around the United States experiencing a rise in home prices in recent years. Not only have the values on homes, condominiums, and town homes increased, the area is reporting substantial housing property growth within the community. For companies with employees consistently traveling in and out of Arlington VA and the Washington area on business, you’ll find buying a substantial savings to renting or booking an expensive hotel. Depending on the location, you can find affordable condominiums for sale in a great neighborhood. Also, with interest rates at an all-time low, your payments will be minimal compared to expense-budget money on lodging.

Savings on Meals

Meals on the road can be expensive for business owners and eating out several times a day can add up. With a condo, you have the opportunity to trim your budget by eating in-house and preparing your own food. Hotel gift shops, convenience stores, room service and the mini bar can be expensive, and you won’t find the healthiest of choices. Storing your own food, beverages and toiletries can save many a traveler on unnecessary costs.

Centrally Located

Condominiums that are centrally located make it easy for you and your co-workers to get to your meetings and trade shows on time. The urban destinations are also ideal for entertaining, and you’ll have an assortment of restaurants, shows and historic sites to select from.

Additional Benefits

In addition to saving on expenses such as food, lodging and time, you’ll find owning a dwelling in the Washington DC area an added tax benefit compared with renting. Not only is your money going down the drain by renting, your company’s monthly mortgage amount will stay the same, and the debt reduced significantly every year until it’s paid off. Maintenance on the building and other common elements are also taken care of so you don’t have to worry about mowing the lawn or general upkeep. Many condominiums have an assortment of amenities at your fingertips such as a fitness facility, clubhouse and security.

Using a Real Estate Agent

Utilizing the services of a real estate agent can help small business owners when selecting a Washington DC condominium. Not only are they an expert in the realty industry, they can also offer sound advice on selecting the perfect dwelling for your needs. A Realtor is also a tough negotiator and can provide you with the data to make the right offer on a property.

Business owners traveling to the Washington DC area regularly may want to think twice about wasting their hard earned cash on renting or reserving a hotel room. Investing in real estate can save you money on an assortment of expenses and help you place the funds saved on your company’s growth and success.

A small business owner, Ann Bailey shares these pointers for saving business travel expenses on Arlington VA and DC trips. The dedicated Realtors at Northern Virginia Avenue Realty work tirelessly to help their clients find exactly what they want and need in property around the nation’s capitol.

How Important is Your Business Credit Score?

Business credit ratings have become more important over the last few years. While they have always been crucial to the success of a business, the recent financial crisis has made managing your business credit rating even more important. Your credit rating will now be used in almost every aspect of your business. Vendors, even ones you currently use, will now review your credit standing periodically to determine if they are going to continue offering you terms on your purchases.

Government agencies offering contract opportunities will now review your credit standings to determine if your company is qualified to complete the contract. They believe if your company has a less-than-perfect credit rating, you will be unable to make purchases necessary to complete the project.

How To Keep Your Business Credit In Good Shape

There are several things that you can do to improve your credit rating or keep your credit standing in good order. Many of these suggestions are also things you could do to manage your personal credit:

• Pay Invoices On Time Regardless of the “grace period” stated on many of your invoices, it is crucial to pay your bills on or before the original due date. While using the grace period may not negatively impact your credit score in a large way, each incident will have a small impact that will quickly impact your credit.
• Watch Balances You want to remain at 35 percent or less of your available credit balance to maintain a good score. While some credit scoring agencies will allow businesses to go up to 50 percent of available without a negative impact, you should try to remain in the 35 percent range. When your debt-to-credit ratio goes to high, the credit rating companies view you as a risk.
• Use Credit Repair Services Many times it takes a “different set of eyes” to see a problem in your finances. You may believe that everything you are doing should have a positive effect on your credit, but your score remains low. A professional agency using business credit repair software can help you manage your debts in a way that will improve your overall credit rating.
• Go To Auto Pay Bills that can be automatically deducted from your checking account each month should be enrolled in auto pay. This simplifies your bill paying process, guarantees your bills are paid on time, and helps you improve your credit rating with little effort.
• Overextension Is Bad Yes, it may seem like a great idea to have accounts established with every provider in your area under the pretense of always being able to get supplies, but this can also impact your credit. As more vendors pull your credit record before establishing an account, or randomly check your record while you are their client, the more inquiries are posted to your credit record. Just like personal credit reports, every time your credit report has an inquiry placed against it, your credit score will drop a few points. If you have an excessive amount of vendors, you could possibly have an excessive amount of inquiries.

Little steps like these can make a huge difference in the success of your company. Sadly, business owners involved with every other aspect of their company often forget how important managing their credit standing can be to their success.

Author Catherine Stephens is a small business consultant and offers this article to help college student avoid heavy debt load. DebtPayPro is one of the best providers of business credit repair software systems within the finance industry. These important tools will help your lender to determine eligibility and assist them in doing necessary common repetitive actions faster and more accurately, which is important when it comes to your financial history.

Photo credit: http://www.flickr.com/photos/andresrueda/3274955487/

3 Misconceptions About Starting Your Own Business

Many people see successful businesses and think “what a simple idea, why didn’t I think of that?” But what they often don’t realize is the sheer amount of planning and work that went into making that business a success – not to mention the money spent. In fact, there are a lot of misconceptions that people have about starting a business. Here are three of the most common.

1. It is All About the Product

When it comes down to it, if your business starts with a bad product, it cannot succeed. However, just because your business starts with a good product, it does not necessarily mean that it is guaranteed to succeed. One of the biggest assumptions that people make when starting a business is that people will actually buy their product. Whether it is because of bad marketing, unaffordable prices, or just a bad product, there are many reasons why certain ideas do not take off with consumers. Extensive research is needed to prevent this sort of a problem. Things such as surveys, market research, and focus groups will help you to know what people want, as well as where there is space in the market. Again, you could have the best idea in the world, but if it will be entering an already saturated market, it will struggle to take off.

2. Money is All the Motivation That I Need

Obviously you are going into this business wanting to make some money, but if you sole motivation is that you want to make a million dollars, you might just want to rethink it all. It is incredibly hard for a startup business to even break even, let alone start making money, and this will take a lot of hard work and time. When not much else is going for you, passion and sheer enjoyment of the work that you do will be the only things that carry you through. Your business is also much more likely to succeed if you are creating it because of an interest and talent for business, and passion about your product or service.

3. A Business Plan is Ironclad

The most common piece of entrepreneur advice is to have a solid business plan. Firstly, it is important to have a business plan. Not only will it help you organize your ideas and prepare for what comes next, but you will need it to present to potential investors who will help you to fund your venture. But one mistake that people make is over planning, as well as taking a plan too far. As you start your business, you will soon realize that it is full of hurdles to overcome, and pits to climb out of. The business world is notoriously fickle and constantly changing. This makes it almost impossible to have an ironclad business plan, because within a few months, it is likely that you will just have to throw it out of the window. Good businesses quickly learn to adapt to the changing needs of the market, and those are the ones that survive.

About the Author: Robert Cordray is a freelance writer and expert in business and finances. He has received many accolades for his work in teaching and small business consultation.

Include Social Media Marketing Strategy to Boost your Business Visibility

Social media is a viable means of promoting business. Having a social media marketing strategy is the need of the hour if one is to successfully promote any business idea or concept. An inexpensive way of promoting ones endeavors, social media marketing strategy can be incorporated through various social media websites as Facebook, Twitter. LinkedIn, You Tube and Google plus.

Below are listed the ways through which one can use these social media websites to promote their product or service.

Promoting social media marketing strategy through Facebook

Facebook has increased in popularity over the past few years. Use the same to your advantage and set up a business page on Facebook. This way you can not only promote your venture but will be able to communicate with increasing number of people.

Alternatively to give your social media marketing strategy a cutting edge treatment, you can post polls in form of questions on Facebook. As a reference, if your website deals with clothes, you can post questions on the color and texture of the cloth that the customers would want to see in beginning of summers or winters. This way you will be able to connect with the customers on a personal level and increase your professional reach. Connecting with customers is a multi layered step and you need to engage the customers too. Ask them to share pictures of your range of clothes on the Facebook page.

Try the above innovations and you will find it an easy task to incorporate your social media marketing strategy on Facebook.

Promoting social media marketing strategy through Twitter

Your social media marketing strategy will receive a boost if you decide to use Twitter for the same. You can use Twitter to tweet interesting facts on your business venture. Do not forget to provide link to the product page on your website.

You can also use Twitter to send some short tips on how to use the service or product. Alternatively, you can tweet some pictures that relate to your business venture to people who follow you on Twitter.

Promoting social media marketing strategy through You Tube

You Tube is a social video site that is immensely popular with users. Incorporate your social media marketing strategy creatively in this medium too. You can start by creating a You Tube video for your business venture and update the same regularly. Share the same with friends and family and increase its reach.

You can launch a video contest on You Tube. Ask customers to post videos on the way they use your service or product range. This way you will be able to increase the reach of your service . Ask your customers to vote on the best video thus generated. Your social media marketing strategy will receive a big boost if you follow the above listed measures while promoting your ideas on You Tube.

Promoting social media marketing strategy through LinkedIn

Social media marketing strategy can be promoted through LinkedIn. You can start by creating a LinkedIn profile and adding links to your website. You will need to update the profile with new links or information that is of use for your customers. Alternatively, you can join LinkedIn groups that are popular with your customers. You can post comments or some contests on this social media platform and derive benefits from the same.

You can ask your customers and other business associates to refer some recommendations in the related sectors that you are dealing in. Some of your customers might be having business links and the same can be explored for commercial purpose too. Incorporating your social media marketing strategy creatively in LinkedIn will have great advantage for your professional prospects. Try the measures listed above and reap the benefits.

Promoting social media marketing strategy through Google plus

Google plus is a new addition in the social media circle and the same can be used Innovatively to promote your business endeavors. For a start you can create circles in your personal Google plus profile. The same may be created for your customers, vendors or people who have interest in any of your business venture.

You will need to post interesting content on the Google plus profile to connect with your customers in an engaging manner. You can include blog posts, articles, product reviews and announcements about any new endeavors. Alternatively, you can start a Hangout to solicit some feedback from your customers. The same can be used to discuss some new launches or products that might be in the offering.

Make use of these social media websites to promote social media marketing strategy and boost your business interests.

About The Author: Alyssa is a writer/blogger. She loves writing travelling and reading books. She contributes to Social Cloud.

Help And Ideas On Becoming Self-Employed

It’s a very difficult time for people to find work, particularly for students entering the job market and those who have been made redundant or out of employment for a long time. It’s an accomplishment simply to be invited to interview and on average only 1 in 10 companies offer a “thanks but no thanks” response to applications. This is very depressing for people who have been seeking work for months or even years. Many people resort to taking jobs for which they are highly overqualified or to accept part-time work to try and make ends meet. Some people take out online loans while they seek work, retrain for a new career or as an investment in a new business.

One option for those who are out of work is to look into becoming self-employed. But where do you start? Just finding a job which is suitable can be daunting. Read on for inspiration.

Look Online

Try investigating online to see what other people are doing. Use a search engine and look for articles, blogs and forums where people recount their own experiences and offer advice and inspiration. You could also try on line quizzes and tests to find out what type of jobs suit your personality, interests and skills. Try brainstorming, keep notes and record every type of job that is appealing to you and then keep on researching.

Look at government websites to get information on becoming self-employed, including legal advice and information on self-assessment tax returns.

Look on job sites where people advertise their services to see what is available. Freelance websites are growing all the time; spend some investigating the work that is offered and also what services others provide. If you have a skill, such as writing, art, crafts or photography – look at what others are doing to make money from their abilities.

Talk to Other People

Ask around and find other people who are self-employed, they can be a great source of information and inspiration. Perhaps you have employed the services of someone who is their own boss, or perhaps you have other acquaintances who are self-employed. Ask your friends and family if they know anyone who might be willing to have an informal chat or give you a few pointers.

Talking to friends and family about your interests and skills is also a brilliant way to stimulate ideas. Sometimes you can overlook the obvious and an outside perspective might help. Your perfect job may turn out to be something you have never considered before, or even a job that you didn’t know existed!

Government Initiatives and Career’s Advice

Look for Pathways to Work or other similar initiatives provided by the government. Visit your local job centre or seek out a career’s advisor. If you are at university, careers advisors will be based on your campus, try to start thinking about your career options long before you leave. Being self-employed for a period of time is a valuable way to get work experience and looks great on a CV as it shows you are responsible and have initiative. If you have already left university, try contacting the careers advisors where you studied, it is likely that they are still willing or even obliged to see you as a graduate.

Local Media

Look at the types of work undertaken by self-employed people who operate in your area by looking in local and national newspapers or business directories. You may be surprised at the amount of different self-employed job opportunities that exist, in a range of different professions. They can range from routine and manual work to highly skilled professional roles. Don’t feel disheartened by the amount of jobs that you aren’t qualified for, just focus on what interests you. It is never too late to retrain or embark upon a new career. Also investigate funding that is available or the possibility of free or discounted courses that are available, particularly as a job seeker. Even some university courses are free, particularly those related to healthcare – where there is a desperate need for staff.

Retrain

Investigate courses that are available, either online, through private companies or at local colleges. Find out which colleges offer adult education or professional qualification courses in your area, then look at their website or write to them to request a prospectus. If you are interested in retraining, you could look into online loans as an option for funding you studies.

About the Author: Wendy Derbyshire is a blogger who understands the current challenges of the job market. If you are considering taking a course or starting up your own business, why not investigate online loans to fund your new career?