Business Guides

5 Things to Consider When Starting a Family Business

Starting a business is one of the most rewarding things you can ever do. Beyond simply being a solid investment, running a business builds character, boosts confidence, and offers a chance to do a lot of good for the community and the world as a whole. And some see it as a perfect opportunity to build something for their family. Family businesses have been a staple of local communities across the western world for generations. They build lasting relationships and are full of charm and character. For anyone looking to create something that they can run with their family, there are a few things to take into consideration.

 

The Idea

The most important part of any business is the idea. Before you do anything else you need to know what you want your business to actually be. This is also one of the more fun stages of company development. Here you can really stretch your creative muscles as a family and decide what sort of business you all want to be a part of. Some of the more common family businesses include craft stores, restaurants, and cafes or perhaps something more obscure like artisan watchmaking.

 

Start-up Capital

The sad truth of our culture is that everything is run on money. You could have the greatest idea in the world for your business, it won’t mean anything without some serious start-up capital to back it up. There are many ways to go about getting this, be it through a loan from your bank or simply saving up, but it is something you need to consider and look into before you start doing anything. And make sure you are staying smart when it comes to money. Do not borrow beyond your means or go through any illicit channels.

 

Inheritance

This one is something that a lot of people in family businesses seem to overlook. Inheritance plans need to be in place way before you even open to the public. And this is for a number of reasons. The main one being, if you died, it needs to be clear who is going to inherit the company. But there are situations where you could be declared unfit to work or placed in a state of coma in which case the inheritance information would be vital. Places like inheritancelaw are perfect for making sure everything is sorted and above board.

 

Community

The key aspect of a family business is the community it is placed within. If you are at the center of a major city then chances are your small family business is going to fail when it is competing with massive name-brand corporations. Small, family-run companies often tend to do better when placed in smaller town environments. In these settings, it is more common that everyone knows each other. This is going to work to your advantage as people are more likely to spend their money at a shop if they have a good relationship with the owner. This leads neatly into the last point.

 

Relationships

This covers both your relationships with your customers and your family. Depending on who is going to be working at the restaurant, you will want to set up your marketing and décor in accordance. A husband and wife duo will suit a nice, romantic atmosphere better. A father-son team will suit welcoming, vibrant colors. Consult some marketing experts and find out what is going to work best for you.

Keeping on the good side of your customers is always a positive. If you build strong relationships with them you will guarantee they will return but also find they act as free marketing for your venture.

How the Advent of the Internet has Changes the Business World

Particularly in the last decade the internet has come around as one of the most used developments in computer and mobile technology ever. These days everything runs with some form of internet connection in order to make our lives efficient and easy, the requirement of a solid internet connection has never been greater as the tech giants roll out more and more products. In this internet age, you may be experiencing some great changes in your business, from more and more tech appliances to video call boardroom meetings, you will find that there isn’t much that can escape the need for the internet.

 

A classic business setting used to consist of a group of offices and a handful of computers and phones, nowadays you will find technological feats like virtual meeting spaces, cloud data storage as opposed to a classic filing cabinet and wall to wall internet coverage. Some argue that the old ways are better than these new technological improvements and others greet it with open arms. Below are a few instances that you may notice becoming more advanced in your business.

 

Filing

Your business is likely to house a variety of important documents that need to be stored safely and securely as well as be organized for efficiency in the workplace. You may have noticed a decline in the amount of physical filing that goes on around your offices, instead of many businesses are turning to online data storage which provides an unlimited amount of space in a secure and recoverable cloud. Some prefer to stick with physical documentation because by transferring online you open your business up to the threat of online crime and being hacked and your files being leaked.

Meetings

Gone are the days of traveling long distances in order to meet with a business associate or conduct a meeting with your team, virtual board meetings are commonly used now with services such as Zoom and Skype allowing video calling in groups. Simply arrange the call and instead of having to be physically present people from around the world can chat in one group call. This not only makes meetings much more efficient but widens the range to the number of people you can talk to. Without the need for physical presence you can speak to any overseas contacts you may have with ease.

Computers

Businesses have used computers for a very long time, they provide research and networking solutions and are great tools in any business situation. However the computers that were available ten years ago have drastically changed to what we now have access to. With improved processing speeds and new functions being included in the recent releases, offices are now equipped with high-quality professional-grade devices that can provide a great deal of help in the business environment. Although these technological advances are great, a downside would be that the need for an upgrade is much more frequent.

 

Phones

Like computers, phones are essential in an office situation in order to communicate with staff and business associates. Although many would say that the older models are absolutely fine in terms of functionality many businesses have been upgraded with newer models with some companies going as far as providing employees with their own smartphone. These steps may seem drastic but they do make life easier in the business setting in terms of having a virtual, organized contact book and better connection to make calls overseas. Much like the effect of improving computer systems, phone upgrades broaden the range of the people you are able to contact.

 

Customer Interaction

Your interactions with customers as a business can make or break your rate of success, it has been a business mantra to value customer service and to ensure customers have a positive experience with you and your business. Nowadays as opposed to actual physical interaction you will be communicating with customers over social media or your webpage. It is important to remember that although the platform has changed you must still interact with customers professionally and ensure their needs are met just as well as if you were directly speaking to them.

 

IT Support

With all of the new technology being implemented into your workplace it is likely that you will have some trouble with it at some point or another. Technology is an extremely useful attribute, until it stops working which has meant in many businesses sourcing an IT support service. With so many new kinds of internet technology being used in day to day business life some businesses need managed IT services in order to limit the damage done by technology issues. Although new technology is a blessing, when it goes wrong if your business is too dependant it can have huge consequences, this is why it is important to have a physical contingency if things go south.

 

Advertising

With the huge dependence on the internet and social media that is around in today’s society it makes sense that advertising has shifted to an online platform too. Compared to the more physical advertising formats such as leaflets and billboards to today’s advertising which is conducted on an internet platform. Businesses use the popularity of social media in order to launch huge marketing campaigns that have the ability to reach millions of people around the world thanks to the power of social media.

8 Sporting Firms to Consider Investing In

In a financial landscape that is only starting to recover from the coronavirus pandemic, we are only beginning to see a reinvestment in many stocks that had taken a loss in their value over the pandemic period now; investors are currently studying the market closely to see which stocks are most likely to bounce back first. This passage will explore this question and detail eight of the strongest rebounding sporting stocks to invest in.

 

Nike

Nike is known as the quintessential all-American clothing company, but in recent years it has started to make immense inroads into the Chinese market. With China being the first country to reopen its shopping hubs after the pandemic Nike has been able to build a strong amount of sales in the Asian market. This has led to Nike’s stock reclimbing by 2% every day; invest while you can.

 

Puma

More known for its running shoes nowadays Puma remains a sound investment in any market. Just like Nike Puma stocks are currently climbing at 2% every day; and with the Puma sponsorship being all over the re-opened German football first division Puma is a brand that will receive greater exposure over the coming months. Puma has been known to be kind to their investors gifting them with new shoes and other forms of new Puma produce; if you are looking for socks to match your new Puma’s I would highly recommend giving tiux a visit; offering comfortable socks for athletes.

 

Manchester United

What this latent corona period has seen is the return of sports in some form, and soccer has been no different. First founded in 1878 English soccer club Manchester United are now slated for a return by the end of June, which has led to a greater interest in the club as the market can testify. Not exploding like other sporting stocks on this passage Manchester United will be a real slow builder and is a brilliant inclusion for any investment portfolio.

 

Adidas

Adidas still remains the premier European sporting brand; and the corona pandemic has done nothing to change this fact, which the stock market shows. The German sportswear company has been reclaiming its stock at 3% every day. Remaining at the pricier end of the stock market with one share currently priced around the 230 Euro mark, but do not feel priced out by this fact as this price is always climbing.

 

New York Knicks

Bringing this passage back to the states you should give the New York Knicks a thought when investing. The New York Knicks have taken a beating in the stock market with basketball one of the sports that have been affected the most. Do not be in any doubt though when the NBA does return the stock is bound to rally, invest while you still can.

 

Comcast

Now some readers may be slightly confused by the inclusion of Comcast in a sports investment passage, but Comcast is actually the owners of Sky Sports the largest European sporting broadcaster. With stocks currently climbing by 2.5% every day it is clear that investors see potential. With prices sitting around 40 dollars a share this is a low risk and high reward stock.

 

Disney

In a similar vein to Comcast some readers may be surprised by the inclusion of Disney, but they are actually the owners of North American sporting giants ESPN. Now Disney’s performance in the stock market cannot be placed on ESPN alone, as Disney does have their fingers in many pies; but the figures still speak for themselves. Share prices are currently climbing by 3.5% every day; with a share price of around 120 dollars. Invest while you still can this one is a real climber.

 

Atlanta Braves

Finally, we will explore the Americas game of Baseball with the Atlanta Braves. The Braves stock is currently sitting at 17 dollars under its usual market price, but it is rallying. Investment in this stock is a real no brainer and I would invest heavily while this option is still viable.

Why Video Marketing is Essential for Businesses in 2020

The digital age has come in full force. It is impossible to avoid it. The internet has become a hotbed of activity and consumerism. And you would be a fool not to utilize it. Video marketing is one of the most powerful and essential tools for any business. No matter what it is you sell, you will be losing out if you aren’t utilizing video marketing.
By this point, you should know who your target demographic is and have done plenty of market research. All of this is vital to creating a successful video advertisement. Below I will be listing the reason why video marketing vital and also a few tips on how to get the most out of your marketing.

YouTube

YouTube is a behemoth. The biggest and most viewed video platform on the planet. Everyone is on there and that means adverts on YouTube can reach everywhere. A company without a YouTube presence is already at a disadvantage. But it can be daunting stepping into the world of YouTube. Starting from zero views and working up is not easy. But there are ways around it. For YouTube views on my videos, I simply use themarketingheaven.com. Simply put they will provide you views for your video and give you that boost you need to get your marketing into the public eye. While YouTube is the primary video platform, do not be afraid to branch out into other video platforms as well such as Vimeo or Dailymotion.

Relatability

A key to successful advertisements is relatability. Your audience needs to be able to view your marketing and find something within it that they want or can relate to. Otherwise, they are simply going to ignore it. Print media is fine, but people can relate better with things they can see and hear. Videos are perfect for this. Showing scenarios that highlight your product that also allow your viewers to relate to the video will boost your sales enormously. To that end, you will also be able to relate to your target demographic by hiring actors or presenters that fit into that demographic and are relatable to your audience. This is also a great opportunity to stretch your creative muscles.

Print is Dead

Print advertising used to be a powerhouse. But these days people rarely buy print media. Newspapers and magazines sell less and less and often only to specific demographics. If you are a niche organization then maybe print media will be enough. But for the vast majority, you cannot rely on it. Digital marketing is the way forward. But to a greater extent, you can’t rely on simply static digital marketing either. If it isn’t a video, then people are often going to ignore it or even bypass it with an ad-blocker. Whereas having your own channel with your own videos means people will be gripped and able to view your content whenever.

How to Design Your Office to Look Professional

A good office needs to look sophisticated. If you have clients coming in for meetings or you’re planning on securing that killer deal, your office needs to look like you take your job seriously. You don’t want people to leave it thinking you don’t deserve to be where you are. You need to take pride in your office, not just for others but also for yourself. You spend a lot of time there. It’s like your second home. Therefore you want to take the necessary steps to make it look as presentable and professional as possible. Below are seven incredibly easy steps to making your office the best it can be and massively increase your chances of promotion.

1) Plants. Any kind of greenery is a sure fire way of making your office look clean and professional. It also shows whoever is visiting your office that you are a person that can take care of things other than yourself. If you water it everyday and make sure it is exposed to natural light, you will look like you’ve got everything under control. Plants also generate oxygen which will make the air in your office nicer and any visitors will be thankful for it.
2) Introduce more light. Making your work environment bright will not only make you work more productive, people will view it as more professional and more inclined to go there. Clients will enjoy going there and will associate the brightness with positivity.
3) Invest in good quality furniture. Nobody likes squeaky chairs or lumpy couches. It’s your job to make sure your clients are comfortable. You won’t secure any deal if they’re sitting throughout your presentation with lower back pain. That is why it’s so important to invest in good quality furniture.
4) Add art. By hanging up a few paintings around your office, you are telling any clients that you are a person of culture. It will make your office stand out while still being incredibly smart and professional. It may even start a discussion that will lead to a rapport being struck with a client. Maybe they have the same piece of art in their office. Any little thing to help you secure the deal will help and art is a sure fire way of doing this.
5) Keep it tidy! There’s nothing worse than going into an office and seeing empty cans, wrappers and post it notes scattered about the place. This will make your clients feel uneasy and assume that if you don’t value the space you work in, how can you value their business relationship? By keeping your office tidy, you are sending the message that you are on top of things and take pride in yourself. Have a small waste paper basket under your desk and take the garbage out daily.
6) Add a new coat of paint. Paint is a great way to make your office stand out and look professional. I recommend you use Interior Painter. This link will take you to their website where you can order paint from interiorpainter to improve your office.
7) Stationery. Have a good and organised collection of pens and paper always. This will show you take great care in your work and don’t just write with any pen you happen to find.

These seven steps are simple but when implemented, your office will stand out as a professional work space that you are in control of rather than it in control of you. If you want to strike that killer deal with clients or get that promotion you’ve been trying so desperately for, follow these seven steps and watch the effect it has on your life.

5 Key Skills Needed to run a Successful Digital Business

Hundreds of people try their hand at starting up and running a digital business. And a vast majority of them fail. Some through fault of their own, others due to bad luck. But what ever the cause, there are a few things that separate those that succeed from those that fail. These 5 skills will help give you an edge when running your digital business.

Know your Audience

This is one of the simplest, yet effective things you have to be aware of when running a digital business. Unlike a normal high-street store, you won’t have the luxury of seeing who is buying your product up close. You will have to look through the data and do market research. But it is worth it. Being aware of your target demographic is priceless when it comes to success.

Branding

Despite your business being digital, your branding needs to be everywhere. Online marketing is a powerful tool, but there is something to be said for physical marketing as well. Getting your business brand onto as many different things as possible will help immensely. Pamphlets and leaflets. Pens and bottles. Wristbands with a message. All of these things are great examples of tools you can use to get your brand out there.

Dedication

This is more a personal skill you need to develop rather than a business aspect. Those who aren’t dedicated to their business are doomed to fail. Dedication is a skill you can instil in your self and it will become invaluable to you. Train your self to stick to a set schedule and allot time to work on your business. It is easy to fall into bad habits when you only have yourself to answer to.

Money Management

This is a vital skill for any business. And it goes beyond simply knowing how to spend your money. You need to be able to keep track of your income and expenditure. Keep on top of taxes and making sure you are filing them correctly.

It is also about knowing what to spend the money on. What do you invest in and will that investment work for you and your business or is it superfluous? Keeping yourself grounded and focused is the key to this skill.

Confidence

The world of business is often cut-throat and harsh. You will face rejection and failure on a regular basis. Not every day will be a winner and there will come hard times. It is important to keep your head high and focus on the little victories and know, with hard work and dedication, there are better times ahead.

More than that, being confident will reflect in your business and marketing, which in turn will attract more customers and increase your profits. People are naturally attracted to confidence and it inspires something within them. Remind your self that you can do this and that you are worthy of success and it will come to you.

Office Sports: Setting up and Running a Team

Do your employees look like they could do with a bit of a morale boost? Well, look no further as we have the perfect solution. Setting up your own office sports team. It may seem like a strange idea at first, but it actually has a huge number of benefits for everyone involved. It can help boost morale, help your employees, and coworkers bond and have fun all while keeping fit and getting your companies brand out there. So how would you go about setting up and running an office sports team? Here are some tips to help you get started.

Decide On Your Chosen Sport

The first step to creating your own office sports team is deciding on which sport you’re going to pursue. The smartest option is probably to do it democratically, either by putting sports into a hat or by leaving it up to a vote. You’re more likely to get more dedicated team members if it’s a sport most of the office is willing to do. Whether it be soccer, hockey, basketball, or baseball, there is any number of sports to choose from.

Set Up a Team Name

The next step is to decide on a team name. Probably another time to put it to a vote. It can help your employees/co-workers feel more heard and make them more likely to want to play for a team they helped to name. Once you decide, why not check out companies like merchology to get your own personalized team shirts with your team name printed on them. It’ll help you all look the part and feel like a real team. You could even have some fun with nicknames on the back of shirts (just be sure to keep it appropriate).

Sign Up For Charity Events

Many office teams take part in charity tournaments and for good reason. It’s a great way to get some experience playing against other teams and offices whilst also doing your part for good causes. You’ll be sure to find a whole host of tournaments near you.

Organize Practices

While you may not be professionals, it’s still worth taking time out to organize practice sessions. Sites like runningandmiles are designed to put all the best equipment and exercise apps all in one place. With a bit of research, you’ll be able to organize a simple training program for your teammates to help them make the most out of the sport.

Do Your Research

As with any sort of venture, the best thing you can do is do your research. There are plenty of already established office teams out there that you can learn from when creating your own. Make sure to brush up on health and safety and research ways on how to manage the cost of running the team in the most effective way. If you’re well-researched and have learned from some of the best, then there should be nothing stopping you from creating the next best office sports team.

It’s Just a Bit of Fun

While it should go without saying, it’s important to remember that the point of the sports team is for your office to have some fun with each other outside of work. While a bit of healthy competition may be fun, don’t let your need to win and be the best cloud your judgment. Don’t forget that the people in the office have chosen to give up some of their precious time to take part. Make sure they are having fun and don’t feel pressured to be there. Have some leniency when people can’t show up to practice and make sure communication is a priority and you’ll be topping the office team leaderboards in no time!

Why You Must Stay Positive to Succeed in Business

The world of Business is full of trials and tribulations. There are constant obstacles to overcome. Numerous challenges to rise to. And plenty of competition. Having a wealth of business knowledge is important, but it only goes so far. With real estate, location is everything. With business? It’s all about attitude. You need to be able to foster relationships, maintain bonds and keep your mind focused and on the ball. Below are a few reasons why this is needed and ways you can better tune your attitude towards success.

Law of Attraction

This is a very simple philosophy that can change the way you live and go about your business completely. It states that if you put out a positive or negative attitude to the world, you will receive back what you put out. This translates to the world of business in a few ways. Principally, if you approach your ventures with a mindset of success, then you will find success comes to you easier. If you approach your colleagues with positivity and commitment, they will respond to you in kind. And in the world of business, both these things are vital. If you visit jewelshealinggarden, you will be able to find out more about the law of attraction.

Steps to Success

Business is never a straight upwards path. There will be setbacks and failures. There are times you won’t meet your goals and you will want to give up. It is at times like these that a positive attitude is vital. When you make your goals, it is important to approach them with the mindset of success. Visualise your self-completing them. But at the same time, know your limits. Remember you are only human, and mistakes happen. But view these mistakes with positivity. They are a learning experience. Utilise them.