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Thursday, August 10, 2017

6 Useful Tips for Growing Your Small Business

5:24 AM 0

To succeed with growing a small business, it is essential to have great organizational and planning skills, as well as having a flexible approach to work. Before starting a new business venture, it is important to put in the time for initial planning before opening the doors. Here are a few things to consider for the greater likelihood of success in the future:

1. Get organized

In order to set up and grow the business it helps to be very organized. An organized person is that much better at staying on top of things and completing tasks. A simple strategy to achieve this is a to-do list. This can be updated daily to give a complete overview of what needs to be done on any given day. Also, this is a great way to avoid forgetting tasks or leaving things until the last-minute.

2. Maintain detailed records

Any successful business will keep and maintain detailed records. A major benefit of record keeping is the ability to constantly know the financial position of a business and make it easier to see potential growth options or challenges in the future. Also, if things do start to look bad, there is more time to start creating strategies to overcome those hurdles.

3. Analyze the competition

Healthy competition has the potential to breed the best possible results. To grow the successful business it is always worth checking the local competition to see if there is anything to learn that could help improve your business.

4. Be creative

Try to be creative in the process of setting up your business and think up ideas that could potentially make your business stand out from the rest. It is worth remembering that you won't have the complete business knowledge when starting out, so you should always be open to new approaches and ideas to expand the business.

5. Stay focused

Even with a lot of time spent on the planning stage, there is no guarantee the business will start to earn money straightaway. It can take a little time and marketing to get a new business recognized, so it is essential to stay focused and continue to work on the short-term goals.

6. Understand future risks

In the early stages, it may be necessary to take one or two calculated risks in the process of growing the business. If the worst-case scenario of a particular risk isn't too devastating it may be worth taking the risk in the hope of a tremendous reward in return.
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Wednesday, August 2, 2017

7 Things to Look Out for in Accounting in 2017

5:18 AM 0

Accounting plays a pivotal part in the operation of any business. If an accounting system is not up to the standard, you may start facing money crunch. For an organization to work smoothly, you must understand the essentials like the required costs, how much time is put in for making a product and what more should be invested in the business. If you fail to plan meticulously on these points, it is very unlikely that your business will expand. Conversely, if you have kept a track of the way, things are carried out and have a fair idea about its financial scenario, you will be able to stay ahead in the competition. There have been multiple changes over the years in accounting. Accountants have started adopting new trends that have given a boost to their income and also made their work easy to a great extent. Following list demonstrates the most-recent trends that have taken accounting industry by storm.

1. Shift to cloud accounting will increase

As more businesses are shifting to clouding technology to store data and cut down costs, cloud accounting is gaining importance. An emerging shift, this has set the path for enhanced cooperation among team members and given a better understanding of financial condition. This involves the use of software, which operates on server and can be accessed from anywhere through the Internet. This way, the data is available to employees and the accountant for use whenever required. It gives the accountant more transparency in work and also lets him/her keep checking on possible discrepancies.

2. Decentralization of accounting software

Earlier tasks such as generation of bills, reports, management of inventory and setting up a payroll system were all carried out at one place. However, more businesses are now opting for distribution of these tasks. The accounting field is making use of various applications for solving business issues with ease. These applications facilitate easy sharing of information. Decentralization has doubled the revenue for accountants as they integrate into multiple partnerships.

3. Automation will be an integral part of work

It eliminates manual data entry and thus reduces the burden of maintaining huge book records of years. It also reduces the chances of records being misplaced or tampered due to human negligence. This can be beneficial for small-business owners and entrepreneurs to a large extent. These tools promote effective communication between accountants and their clients and also help them deal with real time accounting problems.

4. Rise in social media strategy

Many businesses today prefer social media marketing of their products to increase their target audience. In the same way, use of social media strategy for accounting is also rapidly gaining attention as business owners are found more active on this platform. This trend has not only been picked up by major accounting firms but also has given entrepreneurs a better clarity to choose their accounting firm by getting an insight into the services offered. The accountants can market themselves by communicating to various people. It also enhances their exposure to new things and increases their visibility in the industry.

5. Increase in collaborative accounting

Although this is not which has been introduced recently, it is certainly giving new direction to business and opening up new vistas for sale. Collaborative accounting makes use of the Internet and latest technology to function irrespective of the location. For instance, the accountants can access client transactions and modify them if necessary by making use of cloud software. They can then inform about it to their clients by using different available chat platforms. This is being termed as the future of this field.

6. Accountants will turn into consultants

The working module is going to witness a huge change. Instead of paying your accountant on an hourly basis, flexible options will come into the picture. Apart from advice on tax deduction, accountants will be able to give you an outlook and suggestions on how to cut down your tax bill for the next financial year. They will become your trusted consultants who help you make your business grow exponentially.

7. Firms outsourcing their accounts

Many organizations are catching up with the latest trend of outsourcing their accounts department. This helps the owners to focus on their business and think of ways to boost it. It also helps in cutting expenses and guarantees that the accountant will scrutinize the reports for frauds.

Managing accounts form an important part of an organization. It keeps a check on the inflow of cash and enhances scalability of business. With new ways available to manage accounting of your firm, it has greatly reduced monotonous methods of handling records and increased lucidity in the working of an organization.
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Tuesday, August 1, 2017

3 Simple Strategies to Deliver Good Content to Your Targeted Audience

5:14 AM 0

One of the key components for effective content marketing is to find out who your audience is. Think about what a waste of time and effort it would be to deliver your content to the wrong audience. That is why you need to know the wants and desires of your target audience.

For effective content marketing, you should focus on creating content that answers the questions of your targeted audience and makes them willing to come back for more. It may sound like "it is easier said than done" but it is not that complicated if you follow these three simple strategies to find out more about your audience.

1. Who Is Looking for Your Product?

The first step in determining your audience is learning about what your product. Does your product solve the needs of your audience? What is it that you are offering? Are you selling a business-to-business product or service such as web hosting or a business-to-consumer such as health and wellness programs? Once you answer this question you can have a better idea of who is looking for what you are offering then you move on to the next step.

2. Get to Know Your Audience

OK, so now that you identified the target audience for your product it is time to get to know them better. If you want to create content that is appealing to them, you need to find out more about their lifestyle, income, location, education, wants and needs. Every little detail that you know about them will help you create better-targeted content that they will be interested in.

With that information, you can start to create what is called "audience persona" which is basically a snapshot of your prospects or customers, including their basic details and interests. Once you create your audience persona you can have a better insight about the content you should create because it is as if you had your audience right in front of you telling you what they want to hear.

3. Explore the Power of Social Media

Nowadays, social media has become an unlimited source of information for you to learn more about your audience, their likes, dislikes, social trends and much more. In just a few minutes a day, you can identify what your audience is talking and curious about. That gives you a glimpse of ideas for creating new content that is hot and that will create engagement with your audience.

These simple strategies will help you get to know your audience better and create content that is accurate and appealing to them. This will not only keep your current audience engaged and asking for more but will also attract new potential customers interested in your products or services.
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Friday, November 16, 2012

Everything You Need to Know to Run a Successful Silent Auction

3:31 AM 0
Silent auctions are profitable fundraising tools used at charity fundraising events to help raise money for schools and nonprofits. A silent auction can be extremely lucrative for the charity when run well.

A silent auction is a type of auction that involves takes bids on items or services that are on display at an event. Typically, attendees write down their names and bids for particular items on pieces of paper, which is then either placed in a receptacle to be tabulated later, or is added to a list of bids kept near each item. There are electronic solutions that run on smart phones or with tablet PCs around the room. The type of auction you decide to run is up to you, but each type provides a peaceful and social fundraising opportunity that can be carried out throughout the entire event. There is no need to interrupt entertainment or food service to perform this type of auction. Winners can either be announced at the end of your event or at a later date.

To facilitate raising money for your school or non-profit engaging the services of one of the many silent auction item providers who can help you obtain a variety of items for your event that evoke interest and buzz. You should try to include items in your auction that are designed to cater to the specific demographic in attendance to ensure that every item at your next school auction receives a bid. By including everything from sports memorabilia to travel and vacation packages that can offer your attendees special services and new experiences, you can guarantee that there will be something for everyone at your auction. Certainly, sports memorabilia from the most famous athletes will be interesting to some attendees but also items from local sports stars that are currently active or even retired can be attractive items. It is a generalization that has certainly been shown to be empirically true that the men will be excited about bidding on rare sports memorabilia while the women at your event will rush to bid on that VIP vacation and spa packages. When hard to find items and once in a lifetime products are available to bid on, it is a guarantee that your guests will exceed any reserve bid. The best part of a charity auction is the buzz within the room that is generated by the items. Nothing can be better for event organizers than hearing people talk about the auction items excitedly so that competitive bids can develop.

The most important part of any charity event is maximizing your profits, which is why it is a good idea to purchase your auction items and vacation packages on consignment if you can't have them donated. Holding a silent auction shouldn't be a risky decision, it should provide your school or non-profit with a unique opportunity to raise significant funds. Never take another risk by purchasing silent auction items at full price; make every event a success by purchasing all your auction items on consignment. Most vendors who provide items to this niche industry work on a consignment basis so that the items don't need to be purchased until they are sold.
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