Small Business Tips and Ideas - BizSieve.com

Exhibiting at Trade Shows: How to Prepare

Trade shows and exhibitions have some of the highest ROI of any form of marketing. Aside from providing a great arena to meet qualified leads they also offer great opportunities to catch up with the latest developments in your industry. Check out competitors and maybe get a bit of inspiration for your next ground breaking product.

The problem is that trade shows require a large initial investment to get those opportunities and leads, so preparation is vital to ensure you aren’t throwing money away.

Objectives: Why are you going to this event? (hint: the answer isn’t because we can, or everyone else is doing it) Make sure you and your staff know what you want to achieve and plan accordingly, whether it’s to get a record number of qualified leads, great press coverage or an inside look at another industry, create a metric and make sure you have a way to track it. Preferably you should do this stage before you have even chosen an event. You can then pick the event which best fits your objectives rather than tying your objectives to the event.

Training: Staff surely don’t need to be trained just to talk to people? Well, actually yes they do. Good exhibition communication is often a mixt of counselling and acting. Your exhibitors need to be able to listen to the problems of the visitors coming to the stand so that they can offer them solutions, not products. They need to be able to listen sympathetically while hiding the fact they are tired and have been on message nearly all day. Much of the literature around trade shows suggests reps should spend 80% of their time listening and 20% talking.

Training your staff is vital to achieving this mix, and hopefully creating enthusiastic representatives. Depending upon what your budget is you can either hire outside experts to coach your staff on the finer points of exhibiting techniques alternatives a more affordable approach would be set aside an afternoon (at least) before the event to brief your staff. The briefing needs to include any products or services they need to be aware off, proper data capture methods and some practice of talking to visitors.

Consistent messaging: Having a consistent message is a vital part of any marketing and branding effort. Events are no different, and you should make sure that you are using your brand colours and logo’s on marketing literature, display stands and even clothing at a minimum. If there is any time when you are representing your company then sales meetings and trade shows are it.

Clothes are particularly vital when it comes to the message you want your brand to convey. A professional consulting company will probably want to wear suits, with any branding confined to lanyards and maybe ties in the company colours. In contrast a tech start up might prefer the branding opportunities available in a more relaxed approach such as adopting branded polo shirts. Similarly you need to think carefully about any promotional products you offer. For example if you want to promote your green credentials a pile of plastic tchotchkes will look hypocritical at best. A far better approach would be to create a report that can be downloaded from your website using a code only available at your stand. This will make you look both more professional and greener.

Pre-event Marketing: So you have trained your staff well, provided branded material and you have a great looking stand. But does anyone know where to find you, or why they should try? This is where pre-event marketing comes in. You need to tell people that you are going to be at the event and why they should care. While this can be as basic as taking advantage of the show organiser’s pre-event publicity, pushing it on your website, social media and offline marketing material can bring in a huge amount of interest. Try to come up with a promotion that will bring relevant people to your booth like a preview on a new product, a workshop or a chance to talk with an industry expert.

Eating and Sleeping: One thing you cannot do is leave your booth unmanned, but you also can’t expect everyone in your staff to spend all day on it. The simplest and most effective thing to do is arrange a schedule beforehand so that everyone will have at least one chance to sit down grab a bite to east. This will help your stand look professional, as there is no bigger turnoff than seeing a messy stand with discarded food wrappers. If it is at all possible then you should have a minimum of two people on the stand at all times. This will means that there is always someone to cover in case of emergencies and that visitors won’t to have to wait too long to find someone to talk to.

Similarly always book hotels and transport as far in advance as possible. This will not only save you money, it will also mean you can get rooms as close as possible to the exhibition centre. A five minute walk beats an hour long commute any day.

Hopefully this guide should help make any exhibits a success and ensure that you come out of the event with lots of great leads.

About the Author: Written by Daniel Frank on behalf of Nimlok Exhibition Stands

Image: Phil Sexton / Flickr

The Importance of Background Checks

The increasing competition amongst candidates is causing many to lie on their resumes, a step potentially dangerous for any business. Performing background checks on future employees is an essential step that all organisations must take to ensure that their business is protected against theft and fraud.

Failure to perform such checks can lead to several legal complications and cost your company a lot of money in the long run. Investing in thorough employee checks today can help you save substantial long term costs.

Potential risks of negligent hiring

As many organisations are in a hurry to hire professionals, experts advise businesses to take background checks seriously. Some of the most common facts that are tweaked in a resume include education level, university attended, job responsibilities, skill levels and previous salary drawn. Most candidates include falsified information in their resume to either gain advantage over other candidates or to mask their intentions. The risk of employee fraud increases if the hiring company fails to conduct its due diligence.

Negligently hiring employees could result in violence and assaults at the workplace. It also increases the risk of employee turnovers and job related accidents. Any liability charges filed because of the employee’s actions may cost the company millions owing to negligent hiring. The possible influence of drugs and alcohol can tamper employee productivity, leading to more losses. Theft and fraud committed by employees can cause a company millions. It is estimated that embezzlement costs companies billions each year.

Responsibilities of the employer

The potential risks of hiring an employee without performing thorough checks can be damaging to a company and its reputation. As an employer, it is your responsibility to know your employee. Employees with past accounts of violent incidents, alcohol and drug abuse and criminal records should be carefully dealt with. Any damage caused by an employee’s known or unknown past record will make the company liable.

If an employee has a past record of negligent driving or drunk driving, the organisation should not allow him/her to use company cars. Similarly, candidates with a history of violent outbursts are not suited for client interaction or personalised home visits. It is every employer’s responsibility to learn of any undesirable traits the candidate may possess. Performing a background check on an employee is not considered a violation of privacy.

Using professional services

Instead of spending days on performing background verification, many companies opt for the services of businesses that specialise in gathering such information. Professionals in background checking offer concise and detailed reports regarding the authenticity of information provided on the resume and interview. Detailed background checks include clarification in criminal history, illegal activities, financial background, educational background, credit history, and reference verification.

Benefits of background checks

One of the biggest benefits of performing detailed background verification is the satisfaction of hiring a promising employee. Including productive employees in your company not only boost your revenue but also reduces employee turnover (the ratio of employees that were replaced in a specific time period). Background checks help candidates be more honest about their qualifications and create a transparent relationship between the employee and the organisation.

About the Author: Penny is an expert associated with CV Insight, a leading group of employment screening specialists. If you are looking for services like background checks on candidates, contact our professionals for helpful advice. CV Insight also specialises in screening your employees to help you hire qualified candidates.

Thinking about FX trading from home ? 5 Common FX trading mistakes to avoid

Trading forex is simple, but it’s not easy. There are only a handful of currency pairs that are traded by most forex investors. However, the nuances of trading in this market are almost infinite. Before you make a single trade, make sure you understand the basics and avoid these five common FX trading mistakes.

Don’t Trade Forex Like You Trade Stocks

Stock traders often employ something called “averaging down.” This strategy is used when a stock position moves against the investor. For example, an investor buys 1,000 shares of a stock for $20 a share, and the share price drops to $15 per share. The investor may buy more of the stock at $15. When his 1,000 shares at $20 are averaged in with his new share purchases at $15, It produces an average share price that is higher than $15 but lower than $20.

Normally, this is a good thing because the stock trader expects to recover any losses. When he does, he realizes a higher average gain since his cost basis is lower. In forex, however, the market is much larger. The market can move against you and remain in an opposing trend for longer than you can remain solvent. Don’t average down when trading forex. Instead, rely on stop losses to maximize your profit.

Set A Stop Loss

A stop loss is like a safety net. Imagine working on a scaffolding 10 stories in the air without a harness. You might be fine working up there for a while, but the first time you lose your balance and fall, it’s all over. Stop losses limit your loss in the markets so that one bad trade doesn’t wipe you out completely. Use them. Instead of wiping out your entire account, you’ll only suffer small, recoverable, losses.

Stop losses also help to increase your gains. Since you are limiting your losses, you can use this strategy to buy back into the market when the trend reverses and exceeds your original stop loss amount.

Don’t Try To Trade Right After Late-Breaking News

New does affect markets in a dramatic way. However, it’s not always clear how the markets will react. Don’t try to out-think the market. You can’t do it. Instead, wait for a trend to develop. Then, trade on the trend. New forex investors tend to mistakenly believe that late-breaking news stories will have an immediate and predictable effect on the markets.

Often what ends up happening is that the market reacts somewhat unpredictably at first. Disruptive news reports often cause a “whiplash” effect, market orders and stop losses are triggered, exacerbating the issue. If you try to trade on this kind of movement, it’ll be like gambling in a casino.

Wait For The Trend, Forget Revenge

You’ve probably heard the phrase “don’t get emotional when trading.” It’s helpful advice, but many newbie traders ignore it. When you lose money, it’s understandable to want “revenge” on the market. However, the market doesn’t care how much you’ve lost. Revenge trading often involves increasing leverage or investment position to make up for previous losses.

This is an incredibly dangerous strategy. You risk losing even more money because emotions can easily cloud your judgment making it impossible to make any objective investment decisions. Instead, wait for another trend to develop, and trade on that trend. Forget your emotions for a moment, and rely on the goals and rules you initially established prior to trading.

Know When To Cash Out

There’s an old Kenny Rogers song, called “The Gambler” It contains advice that’s actually useful for forex investors. “You have to know when to hold ’em, know when to fold ’em. Know when to walk away, and know when to run.” New forex traders sometimes have the problem of “knowing when to fold ’em” and “knowing when to walk away.” When the market turns against you, don’t let your losses run all the way to your stops. Thinking that you can “handle” the downs and that the market will rebound is a fallacy. The market may rebound, but you’ll be out of money before it does. Walk away from losing trades, and don’t get involved in market trends where you know you can’t win or where winning is improbable.

About the Author: Guest post contributed by freelance finance writer Elizabeth Goldman on behalf of Sunbird FX the specialists in currency trading and trading oil CFDs.

Everything You need to Know about Starting Carpet Cleaning Business

Many people understand the importance of using professional cleaning services and appreciate the solutions that carpet cleaning businesses provide. On the other hand, many people are in search of either full time or part time income earning opportunities. If you are considering starting this type of business, you have a good opportunity to generate an impressive income because plenty of opportunities are available in commercial and residential properties.

Business start-ups require entrepreneurs to do their homework well by researching on every aspect of the business and having a business plan prior to launching. Rug cleaning is no different. You are likely to have a successful business if you arm yourself with all the necessary information about the business.

Business location

Most entrepreneurs who get into the business of cleaning carpets start their businesses from home. Some may eventually move to other business premises, but this implies additional cost. Before you decide to base your business in your home, find out about the local authority’s regulations that govern the running businesses from residential premises.

If you choose to rent commercial premises, identify a reasonably priced facility with ample space that meets your business operations requirements.

What do you know?

One of the best things about starting a rug cleaning business is that you hardly require any special skills or certification. However, you need to have good knowledge of professional equipment and products used for cleaning carpets in addition to learning skills necessary for running a successful business.

Hiring staff with experience in cleaning rugs is a good idea if you only have basic knowledge of the business. You will need to keep updating your knowledge about new cleaning equipment, supplies and invest in those that will add most value to your business.

Licensing

For this type of business, you will require to obtain a Business License before getting started. You may find it necessary to incorporate your business once you grow your assets.

Determine your clientele

Some businesses serve multiple clients successfully while others choose to target a niche market and focus on meeting their needs. Your research should guide you on which market you can serve best and create customer loyalty.

To franchise or not?

Franchising is a good option when you are starting out. Your business gets support in terms of marketing, advertising and operations. It is much easier to work with an already established business with a known name. However, franchising may not work to your advantage once your business is established.

Equipment

You will need to invest in cleaning equipment like steam and vacuum cleaners as well as cleaning supplies. You can start with light equipment and upgrade as your business grows. In addition, you have a choice between buying and hiring cleaning equipment. You may need to consider purchasing a van to transport equipment and staff.

Hiring Staff

Lounge cleaning businesses require workforce especially cleaners, assistants and administrative staff. The amount of work determines the size of workforce. Recruit staff with knowledge of using the equipment used in cleaning carpets.

Pricing

Draw up a reasonable pricing plan for your rug cleaning services. You are starting a business to provide a service in return for profit. Therefore, your pricing should allow you to cover your expenses and give you a profit.

Marketing

Getting your marketing right can mean business success. Establish and maximize on the most effective marketing and advertising strategies for your business.

Image: Frederick Md Publicity / Flickr

Treat Your Home-Based Business Right

When working from home, it can be very easy to cut some corners and leave things out. Falling into this trap can be a huge error on your part and can cost you loss in profits and potentially even a loss of your business. Setting things up the right way will help you to build a strong foundation for your business to grow on.

Financial

Having a system for accounting in place for your business in imperative for success. Just like with your personal finances, you need to be able to account for the money coming in as well as for the money going out. Not only will this information be important for you, personally, but it will be needed come tax time. Another time that your financial documents will come in to play is if you need to prove the success of your business for loan purposes; business and personal alike.

Keeping track of your income and expenses does not mean that you have to go out any buy special software and then try to learn how to navigate through it all. Accounting can be done in just about any fashion that you are able to do. If you are computer savvy, you can get software that can ease the process of tracking your finances, there are plenty of programs that are already loaded on most computers, or an Excel spreadsheet can be used. If you are not comfortable with a computer, there is no reason why you can’t use the tried and true paper, pencil, and calculator. Regardless of what you use, make sure that you are comfortable using it so that you can maintain it.

Licensing

Not every business needs to have a business license, but many do. Before you begin anything where money is trading hands, find out if you need a license to do business. Do not operate your business without a license if one is required as you will then be liable for anything that may go wrong as you will most likely not be covered by insurance.

Insurance

Depending upon what the business is that you are running out of your home, you may need special insurance coverage. Do not overlook this as you could have issues you do not want to be involved in should an issue arise. It is often thought that just because you do not need a business license or that you are not doing a business that could potentially harm another (like massage), that insurance is not needed. This is a costly misconception. Before you open your doors for business, call your insurance company, or one that deals with business insurance, to find out if you need to have coverage. Even if you do not need coverage, you may need to change your current insurance policy in order to cover your new business. If you have people coming in and out of your home or even hold a significant amount in inventory, your insurance company may want you to have additional coverage. Auto insurance could need to be changed as well, especially if you are carrying any sort of inventory that needs to be covered in case of a loss.

Operating a home-based business should be treated as seriously as if you operated one out of a building. Any business is just as important as another, regardless of where the headquarters are. Having a strong foundation in which to build on will help you to see the growth that you desire.

About the Author: Chris Baker is a freelance writer and blogs for www.cheapestcarinsurance.org.uk where you can find great deals on cheap car insurance for new drivers!