It takes some courage to drop your steady-paying job in favor of going it alone, but it’s these types of risks that can be rewarded greatly in business. But although you may be starting off alone, a daunting experience in any industry, there are advantages of breaking off from the main piece to thrive elsewhere.

It takes a great deal of financial backing and careful strategic planning to get into that position, and after years of working within someone else’s project, it’s time to build.

Below are just a few of the reasons why going it alone can be very beneficial for yourself but also those that come under your employment.

Ensuring a work/life balance

One of many advantages is the ability to control your work/life balance. This could come in the form of having the flexibility to determine when you can start and leave work when you feel necessary to enjoy the downtime, choosing the hours you wish to work or delegating tasks to a competent and capable senior.

Entrepreneurs can also organise their priorities and spend more time with what they hold most important in their lives. This will then help them focus properly on the work-related issues they have with a clear mind.

You’re also following your dreams by building something from scratch that all came from your own ideas. When you’re spending your work life time pursuing the things you’re passionate about, this will stand you in good stead with having a balanced mental attitude in both work and leisure time.

Surrounding yourself with the right people

As an employee, you can have a say as to which type of person enters a company but you won’t have the final say unless of course it is a delegated decision. Having your own business means that you can select the personalities that you wish to work alongside, surrounding yourself with like-minded individuals that will contribute towards continued success.

This way, you can dictate who will help shape the plans to take your business forward. Entrepreneurs have, in the past, been known to employ personal friends and family to work alongside them in varying capacities because they know they care for them, which will translate well in the attitudes they have towards the work they’re in.

Pierre Vannineuse, founder and CEO of Alpha Blue Ocean, an alternative investment company based in the UK, works alongside his friends that have been his business partners for a number of years, he says: “I founded the company alongside my two good friends, one of which I’ve remained close with since childhood.

“We all know each other inside and out, which has allowed us to utilise each other’s strengths and grow upon each other’s weaknesses. Doing this allows for as much transparency as possible which limits the amount of potential problems.”

Giving back to the community

In the process of building a business, entrepreneurs enjoy the idea of using the size of their projects to give back to the local community and beyond. This can be done by means of charitable donations or events or simply just the action of creating jobs in a local area, which is becoming an increasingly concerning problem. Inspiring the next wave of entrepreneurs by attending colleges as a motivational speaker is another feelgood factor of being at the top.

There is nothing more that encourages entrepreneurs in their roles than feeling a sense of pride in what they do and giving back to the community will help them achieve this.

Learning how to manage people

Founders usually also take on the roles of CEO’s when a company is relatively small, even if they have limited experience of managing others. This forces you into a position where you learn to govern the actions of your employees. Mistakes will be made along the way, but it’ll be a learning curve that you’ll gain valuable experience from.

Starting off as a small business and slowly increasing in size will allow you to see how a business and its personnel operate through the growing stages, and its transitions from each step.

Sources

https://www.thebalancesmb.com/the-advantages-of-owning-your-own-business-2948555

https://www.inc.com/guides/201101/top-10-reasons-to-run-your-own-business.html

https://businessingmag.com/2619/entrepreneuring/advantages-of-owning-your-own-business-in-case-you-need-a-reminder/

How Does A Business Benefit from Monitoring Solutions?

Monitoring solutions such as cell phone spy apps and computer monitoring software have proved to be quite beneficial to many entities, especially businesses. In this post, we are going to talk about how exactly a business can derive multiple benefits by using monitoring solutions.

Monitoring solutions represent spy phone apps or programs that are usually installed on the target’s device in order to monitor their device activity as well as their internet activity. These monitoring programs have been designed to spy on someone’s online activity to find out whether or not they are on the right track.

While it is a common misconception that cell phone spy apps are mostly used by concerned parents who want to keep an eye on their children’s online activity, they are also being used by the majority of the businesses now.

Employers deploy monitoring solutions on all the company-owned devices so that they can keep tabs on their employee’s activity. One of the major reasons why most of the companies and businesses are now turning towards spy software is because they have to deal with corporate theft.

Even small-scale businesses have to end up being a victim of theft crimes. The disappointing and saddest part is that in the majority of the cases, it is their own employees who end up selling off their company’s private and confidential data to the third-parties, outsiders, and competitors.

However, there is no need to fret because of corporate thefts now because now spy software is available that can help companies enhance data security for their businesses.

Computer spy software and cell phone spy apps help you spy on your employees and find out whether or not they have been involved in sharing the company’s private data with outsiders. These spy apps help a company from corporate theft and keep the data safe and secure.

Different Ways a Business Can Benefit from Spy Phone Software

Now, let us go through some different ways in which a business or a company can benefit from cell phone spy software and apps.

Save Business from Data Theft

As we have already mentioned above, cell phone spy apps and computer spy software help business from data theft. Once employees are aware that spy apps have been deployed on their mobile devices and spy software has been installed on their computers and PCs, they will not even think about leaking the company’s data with an outsider.

Spy phone apps and software will help employers keep an eye on their employee’s activities, especially their online activity. Even if employees go ahead and leak the company’s private data with others, the employer can find out about it immediately with the help of the spy software.

Monitor Employees Online Activity

A cell phone spy app or a computer spy software helps you monitor your employee’s online activity. Usually, employees chat with their friends on social media sites and browse the internet to spend their leisure time during office hours.

The problem arises when employees spend time on leisure activities during office hours, especially when they have been given the assignment to work on. When they neglect their work and focus on leisure activities, the company’s overall productivity gets compromised. With monitoring solutions, you can monitor the amount of time your employees spend on leisure activities. You can even block apps and sites to make sure your staff does not waste their time using them.

Tracking Employees Business Trips

Another important benefit a business can derive from using monitoring solutions is location tracking. Most of the genuine cell phone spy apps offer location tracking feature. This feature makes use of GPS tracking and helps you track your employee’s whereabouts. The good thing about this feature is that it tracks their location even when their phone’s GPS is turned off.

For instance, if your employee has gone on a business trip, you can remotely monitor all the locations they visit using the cell phone spy app. This will help you know if your employee has gone somewhere else other than the meeting place. Spy phone apps help companies know that their staff is where they are supposed to be.

Protect Company’s Devices from Virus

When your employee surfs the internet, there is always a risk for their device to be corrupted by some virus. When their device gets affected by the virus, all the company’s data and files become corrupted. The data comes into danger, especially from the attackers.

The only way to avoid this type of danger is to block all the websites and apps that can be potentially dangerous and threatening to the system. By using cell phone spy apps and software, companies can have a method to know which websites and apps are being visited by their employees. They can even block the ones they find harmful for the company’s data.

With all the incredible monitoring and surveillance features provided by a cell phone spy software, there is doubt that companies and businesses can now have a powerful monitoring tool that can help boost their data security and enhance employee productivity.

Starting a brand-new company requires a good idea, a willingness to put in the effort, a bit of good fortune and, of course, money. The last requirement is often the hardest to come by. Raising money for a start-up can feel like begging at times – whether you are asking family and friends for contributions or talking to a bank officer in search of a loan.

Series funding is another way to get a start-up off the ground and develop it into a strong and legitimate business. This sort of funding can, over time, result in millions raised over many years of seeking investors. Many times start-ups that follow the series funding path eventually end up going public.

It is important for every start-up owner to fully understand series funding and how it works before launching their businesses. Series funding definitely has its advantages, but there are disadvantages as well. Business owners should have a clear vision of what they want their companies to eventually be in terms of ownership and control. That vision will dictate funding choices.

How Series Funding Works

Series funding is a way of raising money for business by soliciting private investors. A good start up funding guide for new business owners will explain in greater detail the differences between series funding and seeking out bank loans, government grants, etc. In a nutshell however, funding a start-up through series funding requires being willing to give up some measure of control.

Investors willing to put money into a start-up don’t do so out of the goodness of their own hearts. They want something in return. What do they generally ask for? An equity stake in the company. And more often than not, that equity stake includes a voice. This is where series funding gets tricky.

The investors who contribute the most to your start-up will want the most say in how things are run. And why not? It is their money at stake. They want your business to succeed so that they make a profit. They certainly do not want to lose on the deal. That is why so many investors demand to have at least some influence over how the new business runs in exchange for their investments.

As you can see, series funding comes with a trade-off. You give part ownership in your company to all those investors who come on board. If you’re fine with this, series funding might be the way to go. But if you want to maintain total control over your business for as long as you own it, you might want to look at bank loans and other funding sources instead.

Four Separate Funding Rounds

Series funding is normally divided into four different rounds. The amount of time it takes to transition from one round to the next really depends on the circumstances of each individual start-up. Some move at a snail’s pace while others rapidly progress through each series and eventually onto an IPO.

Here are the four different fundraising rounds:

• Seed Round – The seed round provides the cash necessary to get a business started. This money may not necessarily come from an angel investor or venture capitalist. Instead, it might come from family members, friends, and even a small crowdfunding campaign. Bootstrapping can substitute for seed funding if the business owner has the financial resources.
• Series A – The first round of funding that normally involves outside investors is Series A. This round is made possible through a consistent business record that has produced hard and fast data investors can look at. This round of funding is generally used to solidify the company’s core service or product and begin the process of establishing a brand.
• Series B – The second round of funding is known as Series B. In this round, raised funds are intended to fuel business development. Companies are looking to expand their market reach and perhaps introduce secondary products or services. Investors are convinced that the business has long-term potential.
• Series C – This fourth and final round of typical series funding is intended to scale up the business. By the time the series comes around, the company is well-established and enjoys a significant market reach. Series C funding fuels the efforts to scale up by expanding market share, acquiring competitors, or a combination of both.

You now have a basic outline for series funding. If this is something you think would work for your business, take the opportunity to educate yourself about all of the finer details. Otherwise, consider other options for funding your start up.

Starting your very own business is very appealing in the UK, with seven out of 10 of us pondering the idea, according to surveys. Back in 2017 there were over 5.7 million businesses within the private sector

In the UK, the idea of setting up your own business is greatly appealing. Surveys have found the seven out of 10 of us have pondered with the idea, while four out of five 16-21-years-olds would like to be their own boss. In 2017, there was a four per cent increase on the previous year, with over 5.7 million private sector businesses in total.

There are so many businesses starting up, from a side hustle to a full-time project. But as a huge number are ultimately failing, we’re here to look at the laws you must follow and how to give your business the best chance of success through advertising.

Business Registration

Business registration can be a more in-depth task that it sounds due to the various options available to new owners. Mostly business owners will set up as a sole trader, partnership or limited company. It may be easier to set up as a sole trader initially but in the long run it can end up being tougher; this is because you’re deemed responsible for any debts that the business builds up over time.

On the flip side, a limited company helps you to keep your personal finances away from your business assets, but this usually means a lot more reporting and management tasks involved.

If you’re going into business with someone else, it makes sense to go down the route of a partnership. This is the simplest way to set up your new business if there are two a more people involved.

Licensing

Often overlooked but Licensing is an integral part of the process when setting up an SME. Certain small businesses may not require a licence, but you should always check at the earliest opportunity to avoid fines or being shut down before you’ve really began.

There’s also the issue of a licence to play music, sell food or even trade in the street. Use this Gov.uk tool to find out which licences your concept may require.

Employing staff

Several points need to be considered if you intend on employing staff. First of all you need to make sure you’re paying them the National Minimum wage and must set up National Insurance payments. It is worth noting here that you’ll be able to claim an allowance to reduce your bill. You must also make sure that they are actually legally entitled to work in the UK, so don’t just presume — be sure to do thorough checks, including a possible DBS check if needed.

Then there’s employment insurance, as mentioned previously, and the need to write up a legally binding statement of employment for any members of staff that will be employed for more than one month. HM Revenue and Customs must also be informed via registering as an employer.

Insurances

Insurance for your business basically covers you and your company against any unexpected costs. It doesn’t matter if you run a large multinational company, a small business, or are self-employed, it’s important to find the right insurance for you. For example, insurance for dog kennels will greatly differ from catering insurance or retail insurance, so be sure to properly research your options.

Business insurance protects you against mistakes, damage and legal costs, known as liability insurance. Certain insurances are required by law, such as employers’ liability insurance. This will cover the cost of any injuries or illnesses any employees may suffer due to work. Elsewhere, if your company will be using vehicles, you must have commercial motor insurance, while some professions must also have professional indemnity insurance that has been provided by their professional bodies or regulators.

Cyber insurance and commercial property insurance are two examples of optional policies, but depending on the nature of your business, could well be worth purchasing. If you are going to be working from home, while it’s not a requirement to have business insurance, you should consider updating your home insurance as you’ll need to have the appropriate commercial property insurance.

Employing staff

Several points need to be considered if you intend on employing staff. First of all you need to make sure you’re paying them the National Minimum wage and must set up National Insurance payments. It is worth noting here that you’ll be able to claim an allowance to reduce your bill. You must also make sure that they are actually legally entitled to work in the UK, so don’t just presume — be sure to do thorough checks, including a possible DBS check if needed.

Then there’s employment insurance, as mentioned previously, and the need to write up a legally binding statement of employment for any members of staff that will be employed for more than one month. HM Revenue and Customs must also be informed via registering as an employer.

Advertising

Once everything is up and running, it’s essential that you advertise your services or business if you want to succeed. A solid marketing plan is crucial in order to outline where you want your business to go and how you can progress. It will look at how much advertising will cost. A great cost-effective way for any local start-up to take advantage of is leaflet delivery services.

Research has found that nine in 10 people remember receiving door-drop mail, with almost half confirming that they keep ahold of these leaflets, making it an effective method of advertising if you utilise it correctly. It’s recommended that you keep your content simple, include your business name and logo, telephone number, email address and the service(s) you are offering.

Similarly, newspaper advertisements can be a very cost-effective way to promote your business — if they have been properly written. Make sure you don’t neglect your online presence, either. This is a significant area in advertising at present, and social accounts are a great way to promote your business to your intended audience.

If you are opening a new office space, outdoor banners can direct people’s attention towards your business. These relatively cheap and durable displays can be used outside your workspace and research has found that the majority of a local business’s regular customers live within a five-mile radius of where you are based. This means that each potential customer could see your banner up to 60 times each week. Digital printing services can be a strong addition to your companies marketing efforts.

With so much to think about when you decide to set up your own company, it’s crucial to plan meticulously if you want your brand to be remembered and not end up another failed start-up. By fully researching the above points, you will stand yourself in good stead from the offset.

Sources

https://www.gov.uk/set-up-business

https://www.abi.org.uk/products-and-issues/choosing-the-right-insurance/business-insurance/

https://www.gov.uk/employing-staff

https://www.smallbusinesscomputing.com/slideshows/10-inexpensive-ways-to-advertise-your-small-business.html

https://dma.org.uk/article/what-is-the-response-rate-from-leaflet-distribution

https://blog.psprint.com/marketing/why-banners-make-perfect-outdoor-ads-local-small-businesses/

https://www.hiscox.co.uk/business-blog/top-9-reasons-small-businesses-fail/

Seven out of 10 of us have thought about starting our own business. However, often we don’t know how to go about getting started. This article will offer advice on the laws you have to abide by and what documents are required. It will look at several business ideas and start-ups, including dog walking.

There’s no denying that Starbucks is a business giant. The Seattle coffee chain sprung into being in 1971 and has since gone global, with 29,000 stores across the world today. In under 50 years, Starbucks has achieved what many businesses dream of: instant brand recognition and iconic status. Starbucks has managed to leverage an unmistakable image and identity to propel its business around the globe and to a record $6.3b in revenue in the last quarter of 2018, according to its financial data.

Business owners of all stripes can learn from Starbucks. You don’t have to be working in the coffee industry or even run a retail business to be able to take valuable lessons from the success of Seattle’s finest. Here are five things that your business — in any industry — can learn from Starbucks and put into practice.

1. Brand Identity Is Vital

One of the reasons why Starbucks has been able to storm the globe is its strong sense of brand identity. The green and white two-tailed mermaid is synonymous with Starbucks. While an attractive and unique logo is important for a business, it is not the only thing that matters when crafting a brand identity.

Starbucks says its mission is to provide “the best coffee possible”, and has defined its niche as a café chain committed to premium products. It’s no coincidence that the closer a house is to a Starbucks, the greater its value is. Rightly or wrongly, Starbucks is perceived as luxury by many, and this is because Starbucks has reflected this in its branding.

Along with its luxury image, Starbucks tries to portray itself as friendly and community-based, even calling itself a “neighbourhood-gathering place”. When a barista asks you for your name when you’re taking coffee out, it may be to aid organisation and ensure customers get the right drink, but it’s also a small personal touch that makes customers feel valued and special. This also has great shareability, allowing the chain to benefit from free promotion across social media.

Have a strong mission statement where you state what your business stands for and make sure that every marketing strategy you use and every step you take to push your business forward revolves around it.

2. Make Customer Convenience a Key Part of Your Strategy

In the simplest way, Starbucks offers customer convenience through its takeaway cups. Customers seeking a caffeine fix on the way to work and who don’t have time to stay can easily slip in for their drink and be on their way with it in hand.

When the mobile payment revolution began a few years ago, Starbucks was quick to integrate mobile payments into its apps for iOS and Android. Customers can even order and pay in advance, allowing them to pop in to grab their drink and go — it’s convenience at its finest, and shows that Starbucks not only knows its demographic — busy commuters — but also tailors its growth towards it.

Starbucks increased its delivery service last year and will soon roll it out across stores in Japan, China, and the US, which brings us to the next point…

3. There’s Strength in Numbers — Work with Other Businesses

In a bid to further expand its delivery, Starbucks has partnered with Uber to provide its products through the UberEats service. After trialling it at stores in Miami and Tokyo, Starbucks will spread the service to a further 2,000 locations across the United States this year. When Starbucks first started delivery — in China — it worked with internet retail giant Alibaba and food delivery service Ele.me.

The lesson here is that collaboration is not a dirty word. Not every other business is a rival, and partnering with others to achieve shared goals is a smart move in driving your business forward. All parties involved could financially benefit and your business could gain greater recognition and awareness as a result. The cost of partnership is often significantly less than delivering the service independently while working with other businesses lets you put a specific task in the hands of the experts — rather than risk spreading yourself too thin.

4. Don’t Put Your Business in a Rigid Box

Starbucks has always been known as a coffee company, but that doesn’t mean it can’t branch out. In 2012, it acquired Teavana, a tea company with branches across the US. Soon after, Starbucks closed all of the Teavana stores and began offering some of its products within Starbucks stores.

Just because it began four decades ago as a coffee shop doesn’t mean that it needed to rigidly stick to this and sacrifice diversification. Starbucks also offers food and has continued to add to its roster of drinks available. When it comes to your own business, consider how you can build on what you already do to offer new services to your clients and customers. Think about what your customers want and, as always, make sure you’re in alignment with brand identity — there’s no reason why you should limit your own growth and expansion.

5. Craft the Right Atmosphere

Starbucks states that it wants to promote a “rewarding coffee experience”. Take note of the word “experience” — this is about more than its products. The decor of its branches ensures that wherever in the world you are, Starbucks is unmistakeably Starbucks. Starbucks has successfully created its own coffee culture, and whether you’re in Japan or the UK, you’re instantly reminded of Starbucks’ friendly and luxury vibe in its decor and personal touches.

What sort of atmosphere do you want in your business? What does your decor — if you operate a physical space — and the way you treat your customers or clients say about your business and how it operates? If you run an online business, what’s your website like? Is it welcoming and easy to use? Is your copy friendly and fun or stiff and inflexible? The colours you use and the layout you choose help to create an atmosphere. As the popular saying goes, there is only one chance at a first impression, making it crucial that your business, at a glance, promotes the image and atmosphere that you want to present.

James Fell is Online Business Editor at Aceville Publications, overseeing digital projects for What Franchise and Global Franchise. He’s passionate about writing about business and the future of franchising.

If you are a veteran of the workforce in this era than I am sure this is not the first time you are switching companies. It can be really nerve-racking to start off at a new place. There are so many different office dynamics to learn and names to try and not forget. At this point I am sure you have a good idea of how to make a smooth transition but I am hoping this list will either reinforce your opinions or give you a few new great ideas.

Getting the right Office Furniture

If you are starting off in a new office then I am sure you were given the option to choose which furniture you will get. There are so many different styles out there so picking the right office furniture can sometimes be overwhelming. If you have free reigns on what you get then you should maybe take a stroll around the office to see what the others have picked out. This way you do not get any dirty looks if you choose a style that people thinks look out of place. But then again, it is your office and you get to choose what you get so take advantage of the offer.

Cleanliness

There is nothing worse then coming into the breakroom to make a morning coffee to find out that you need to clean up the last person’s mess. If you do not want to get on everyone’s bad side then this is something you definitely need to keep in mind while you are half asleep in the morning. The breakroom is basically everyone’s favorite place to go so keeping it clean is of utmost importance.

Making sure your office is clean is important as well. Studies have shown that having a clean office increases your productivity which is important when you are just starting off. Your employer wants to feel satisfied that you were worth the money that he or she is paying you. It also gives you more of a professional look.

Do not Fake it Til You Make it

This mantra can be useful in some situations, but it is never ok at a new job! If you have important questions then it is better to ask in the beginning. Having someone say “I already explained this to you on your first week” when it is a year later will make you look terrible. Overall just make sure you are always asking questions in the beginning while it is still acceptable.

Do Not Avoid Feedback

This is the best advice that I have gotten so far. You do not have to wait until you are at a company for six months to find out how you are doing.  Feel free to talk to your boss and get feedback whenever you feel the time is right. This will make you look great because improvement is really important if you want promotions. If you look at the employees that have kept the same title for a long time most likely they are the ones that are comfortable with where they are and do not want to change. Change is good at a company that has a lot of room for promotions.

Review On boarding Materials

Adjusting to the office can be made easier by looking at the employee manual. I know it seems kind of boring but their may be a few things in there that will surprise you and bring up a few questions. It is important to ask all of the questions in the beginning, but at the same time, many of them might already get answered in the on boarding materials. For example, they probably have the company logins and a tutorial on how to do it. If you ask a coworker for help you do not want to look bad when they say “O, it should all be in the on boarding materials they gave you”.

Learn the Computer Programs Necessary

If Microsoft Excel is a big part of your job and you are not an expert at it then learning tips and tricks before you start will be a huge plus. Excel has shortcuts that will truly make your job easier. Personally, I used to spend so much extra time doing something manually and a coworker noticed one day and showed me a shortcut. I was so relieved that I was able to save hours on my work, but I also felt a little annoyed that I did not know about it before.

Look Professional

You might have been expected to wear a suit to your interview but that does not necessarily mean that you are supposed to wear one to work every single day. Find out what the workers typically wear and start to build your style off of that. You do not want to go to work in a three piece suit when everyone else is wearing Jeans, and a collared shirt. It will make you look a little snobby. On the other hand, do not show up in jeans if you have a feeling the work attire most people are wearing is a bit more professional. You are already going to feel out of place and uncomfortable during the first few weeks so fitting in is going to help with that.

Being Punctual

There are so many workers that end up showing up late to their first day or they are trying to leave early. This will make you look terrible. There is no other way to say it. The person that hired you is taking the risk, and vouching for you that you are a good employee. It is a true letdown for them if you show up late on the first day, or even during the first month. If you have kids and you know that you may be a few minutes late every now and then you should let them know that in the beginning to offset any frustrations they may get from this.

Overall, just be positive and do not forget to ask questions!