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Three Trends Your Startup Should Pay Attention To

Posted By Administration, Monday, March 12, 2018

A recent study conducted by researchers from the academic journal Venture Capital found that startups with more unusual names are more successful when it comes to getting early-stage funding from investors and venture capitalists and even do better on crowdfunding sites.

The researchers believe this is because, when a company is first starting out and little is known about it, a more quirky, unique name makes it more likely to stand out from the crowd and thus attract the right sort of attention. It's a strategy that clearly worked for the likes of Uber and Lyft and means many more unusual names are likely to be used in the future. Read on to find out more about Sage’s hottest trends new startups need to be aware of in the near and distant future.

1.      Services for freelancers

Many startups focus their attention of providing services to big businesses or consumers, but there is a group that occupies the space between the two that, to date, has not been fully exploited, but is brimming with opportunities.

According to a 2016 survey, there are now more than 55 million people working as freelances in the United States, an astonishing 35 percent of the workforce. This number is set to grow to 43 percent by the year 2020.

Freelancers need many of the same services as those that are provided to small businesses but need them on a smaller, more affordable scale. Those startups looking to carve out a unique niche for themselves would do well to find ways to cater to the growing freelancer market.

2.      Optimal outsourcing

Fast-growing companies need more and more in the way of back-office operations, but the time and effort required to put together such a team, especially at short notice, can often consume valuable time and energy that could otherwise be put into the core activities that the company is built around.

Outsourcing is already hugely popular but is likely to become far more so due to the fact it offers massive cost savings and allows for greater efficiency. This especially the case when it comes to tasks that require specific specialist knowledge but do not form a large enough part of your business to make it viable to hire someone to work on them full time.

The future is also likely to see a more strategic use of outsourcing. If, for example, your company gets involved in a project that requires skillsets none of your staff possess. Handing off these aspects of the project to others will ensure the work is carried out correctly and with a high level of efficiency but will also enable your own staff to work alongside the outsourced team in order to acquire the skills themselves for future projects.

3.      The cloud becomes even more compelling

Cloud services are increasingly becoming the de facto way of doing business, and the amount of storage available is likely to increase as a result, leading to reduced costs for those companies who take advantage of such services.

If your business works with big data, you'll be able to make use of this increased space to store far larger data sets and carrying out detailed analytics, harvesting far more valuable insights into areas such as customer behavior, as well as using such information to make better strategic financial investments.

Tags:  Startups 


How to Launch a Successful Business Event

Posted By Administration, Wednesday, March 7, 2018

There are many kinds of business events you could be planning and how you launch your event will almost always depend on whether it is inward or outward facing. Are you launching a business event for your staff and directors or is it a marketing event which is obviously going to be outward facing? Typically, a business event that involves only people who are already associated with the company is a bit less intense and much easier to plan. Outward facing business events can be far more complicated, but these tips should help you organize the launching so that it goes without a hitch.

Marketing a Key Component

If you are hosting a business event to broaden your client base, marketing is a key component. The best way to reach the largest audience in the quickest amount of time is to set up a webpage dedicated to the event. Use backlinks, internal links and click ads to attract visitors to your event page and by all means, check out hosting packages reviewed on sites like Hosting Kingdom because you can’t have servers being down all the time. Not only will you miss out on an opportunity to attract new clients, but that will not say much about the integrity of your company. Clients want to know that you will be there to address any concerns they may have and if your landing page is down periodically, that won’t speak well of your reliability.

Choose an Experienced Events Coordinator

While you may think you can easily organize a business event, there is much to do which probably isn’t within the realm of your expertise. With a professional corporate event coordinator, the only thing you will need to do in the background is probably line up guest speakers and put together an agenda for the event. Your coordinator will help you plan everything from the venue, to the menu to the entertainment if you decide to include any. In fact, a great business event probably should feature entertainment of some sort as well as a banquet where attendees can network.

Online Registration Is a Must

Here again, that reliable web hosting company can take much of the onus off you and your coordinator. With a site that is up 24/7, guests who plan on attending can complete an online registration form so that you know how many to plan for when it comes to such things as seating and the number of dinner guests at your event banquet. In order to launch a successful business event, you need focused preparation each step of the way and this is why a coordinator is an absolute must. Most company administrators simply don’t have the time or experience it takes to plan a successful event.

Remember, no one will even know of your event if it isn’t marketed well, so you just may want to hire a marketing consultant to help you know how best to reach the largest audience. Do it right and you can grow your business exponentially. That’s the idea so a little expense now can offer a massive yield over time, and that’s what you are looking for. Give your company a face behind the name at your next big event and watch your numbers climb.

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Why Playing Sports is a Secret to Business Success

Posted By Administration, Wednesday, March 7, 2018

Taking part in sports is more than just having a kick around with friends. The bond between team players and the collaborative efforts, which combine everyone’s strengths, provide a wealth of benefits in a range of environments. This way of working together is great for bringing new light to working relationships and encouraging collaboration on a larger scale. There are many benefits to taking part in sports, and aside from the health aspects, you can learn a great deal from having fun, being part of a team and achieving goals. Here are some of the top advantages of playing a team sport and how this can have an impact on your success in the workplace.

 Learning to plan and strategize effectively

When you play a team sport, there is nothing more important than planning and strategizing your play. The same can be said for businesses looking to secure business growth. Team players whether in business or sport need to develop a succinct plan and realize the bigger picture for it to work. Establishing where you sit within the team and utilizing those strengths is also essential in planning the way projects come to life and determining who is responsible for each aspect to deliver its success.

Teaches a collaborative team effort

In both business and team sports, collaboration is key. Neither will get very far without the efforts of everyone on the team especially if they are unable to work together to complete project goals. Playing sports has huge benefits for promoting a collaborative environment as this respect and appreciation of the other people and factors influencing the team effort to reap the rewards for future successes. Much like putting a wager on, you can take a chance on your teammates who’ll help you to reap the rewards of a great business win. Bringing these skills into a working space can help people effectively cooperate and compromise without unnecessary conflict, which ultimately leads to the team succeeding as a whole.

Helps to develop confidence and determination

Whatever line of work you’re in, you are often met with barriers or negative feedback. This type of discouragement can lead to lack of motivation and an overall unwillingness to take part for fear of future failure. This type of attitude is often seen in both sports and working environments, but if you play team sports, you are more likely to have a level head about it in the long run. Taking this into the workplace, learning from failures and working to improve is a key attribute of dedicated staff. Much like sports, setting goals and working with everyone to achieve and surpass them is ideal for the growth of a business. This perseverance and boost in confidence give workers the chance to embrace their strengths, ask questions and face obstacles without the fear of rejection or failure.

There are many similarities between playing sports and good business acumen, so be sure to take part to feel the benefits, both at work and in play. 

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Convincing Your Management Team to Transition to E-invoicing

Posted By Administration, Thursday, March 1, 2018

Paper invoices were once the order of the day when it came to payments between businesses. However, the introduction of e-invoicing has changed the way invoices are delivered completely. Not only is it a faster way of sending and receiving bills, but it is also far more convenient. As with most things in life, e-invoicing has evolved since its conception and is changing in ways that will create even more efficiency and ease. However, there are still some businesses that are yet to transition due to various reasons such as lack of understanding, resources or just not being open to change. This article, however, has put together three key points that you can use to pitch e-invoicing to your management team.

It’s Automated

When trying to convince your management team to switch over to e-invoicing, you may need to put together a comprehensive but concise presentation. You can use free slideshow software to put together your presentation if that doesn’t happen to be your area of strength. The first point you could consider using for your proposal could be the fact that e-invoicing is far more automated than traditional forms of invoicing. This would be beneficial to your company as automation will save you time and as a result help increase productivity and strengthen customer relationships. This could be attributed to the fact that e-invoicing enables businesses to get paid quicker which could, as a result, have a positive effect on the speed in which customers receive products and services. You could also consider including that e-invoicing has the potential to ensure greater security and protection from fraud for your organisation.

You can Utilise Mobile Invoicing

A second point that you could add to your proposal to your management team is that e-invoicing can be mobile which is becoming increasingly popular. This could be because utilising mobile invoicing enables you to review, send, and approve invoices irrespective of where in the world you might be. Mobile invoices ultimately create a large amount of flexibility and can help save a great deal of time. Customers may also be more inclined to patronise businesses that are mobile friendly and have apps for ease and convenience. Mobility, therefore, offers several benefits for both customers and businesses alike.

It’s Cost Effective

It has been said that e-invoicing, as well as e-payments, can help businesses save on their bottom lines. This is as a result of several reasons which include ease, efficiency, convenience, costing and also how much time and resources they stand to save by doing so. Additionally, fewer employees will be needed in the billing department when e-invoicing is used which saves you money on overhead costs. This point should serve as a convincing argument for your management team and at least give them food for thought.

We live in an age where time is of the essence, so we are constantly looking for ways to create more time. This could be because the more time we have, the more productive we’re able to be and this is especially important when running a business. Sometimes, trying something new can be a scary thing, however, often it only takes one person to convince others and lead the way. Hopefully, after proposing the many benefits of e-invoicing to both small and large businesses, your management team will be more open to transitioning to the digital side of invoicing.

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3 Reasons Your Small Business Needs an Accountant

Posted By Administration, Monday, February 26, 2018

Starting your own business is no easy task. Building it into something successful is an even bigger ask. There is no denying that the journey to entrepreneurial success is a long and difficult one, one that is fraught with obstacles. In the cutthroat modern business world, entrepreneurs need every advantage they can get. The odds will always be stacked against you and the only person you can always rely on to look out for your interests is yourself.

Effective and efficient management is essential for any business that is hoping to seriously compete and succeed. When your business is in its infancy, it can be very tempting to take control of every single aspect and to try and do everything yourself. This might work ok for a while, but in the long run, you are going to need a better plan and some reliable people on hand to help you pull it off. As your business grows, you will find accurate accounting increasingly important, to the point where it is worth hiring an accountant as insurance against the potential losses arising from poor bookkeeping. Here are just some of the reasons that you should consider adding an accountant to the staff of your small business.

Create a Business Plan

An accountant will help you to ascertain exactly how much money you have, how much income you are generating each month, and how much your expenses are. Without this information, you are limited in the scope of any business plans that you make. In order to plan in any real detail for the future, you need to have a good idea of what your business’s finances are going to look like over that time. Hiring an accountant is an excellent first step towards a more considered and better planned out future.

Avoid Mistakes

There is nothing as important to a business as money. Money is the lifeblood of your business. It is the nourishment that allows the business to function and to continue to grow over time. Mistakes in your accounting can set off catastrophic chain reactions. There are few things as scary for a business owner as realizing that you have a lot less money than you thought you did. Having a qualified accountant doing your books will give you peace of mind and ensure accurate records.

Increasing numbers of entrepreneurs are turning to online accounting degrees, such as the one offered by New England College. As with many other renowned educational institutions in the US, students can study with New England College Online.

Breeze Through Audits

Audits can be an absolute nightmare. Having someone going through your finances with a fine-tooth comb is nerve-wracking even when you are sure that everything is in order. If you are managing your books for yourself, there is a much greater chance of something going wrong. If an audit reveals serious problems in your financial arrangements, then you could incur penalties and fines, which seriously dent your coffers.

Hiring an accountant for your small business is a smart move, one that is likely to both save and generate money in the long run.

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