Business News

When starting a business, an entrepreneur may not always have an office to conduct operations, since this would mean paying monthly rent, plus all the services like water, electricity and telephone, among others. One option to solve this problem is to work from home; however, doing so implies certain responsibilities and rules to establish from the outset, to maximise time and not fall into the routine.

1. For starters, someone who works from home should enjoy what they do, so it is important to fully believe in the project or task in which they are involved.
2. Personal image is another aspect that should not be neglected, since you must constantly remember that even spending a lot of time at home means you can`t spend all day in panamas. If so, then this situation will eventually be counterproductive to your motivation.
3. Establish work schedules and respect others around you, as if this is not done, you`ll gradually lose the personal life and everything becomes work.
4. Choose an area to work that is away from distractions like television. This will be helpful to avoid pausing while working, so it's easier to concentrate on customers or suppliers.Talking about your business some of the time with your family and friends can be a good option to vent your problems; however, if you want solutions, it`s better to surround yourself with entrepreneurs or a coach you occasionally can contact about business.
5. If you have people working with you, the best way to avoid problems in the future is to establish rules from the start, because if not, it will invade the space of your family, which in the long term will be annoying for everyone.
6. Finally, organise your time developing methods and organise processes to help you avoid deliveries outside of your work time and make your work more efficient.

Today, work type and working environment have changed a lot. therefore, it is necessary for teams within a company to collaborate in new ways. This helps employees subjected to high amounts of stress to create and implement different things.According to experts, currently for a company to be successful, there is a need for innovation; however, the fact that their workers are not creative could stop their growth.Fortunately there are techniques that help improve the mood and performance of workers, which are directly related to fun, because when a person enjoys their work, they turnabout proposing new things.To do this, companies must make their employees feel confident to innovate and create fun in their environments.In the market there are already companies that do not require their workers to abide to a set schedule to work; i.e., they do not start and finish at rigid times every day, but are left to organise their time to work as they see fit, in order to meet their objectives.There are also companies that offer their workers a playroom in order to enable them to overcome stress and thus coexist with each other to achieve and establish new projects.Another way to achieve a friendly atmosphere is decorating the office with bright colours and funny pictures, in common areas where everyone can see them.The HR department from time to time should implement some dynamic activity with all members of the company, as this will be vital to promote integration and creativity of workers.Remember that the conduct in meetings where all your employees participate could enhance the sense of teamwork, generating an atmosphere of trust where you can be more fun and so innovative.

To think that small and medium enterprises (SMEs) have the infrastructure and financial characteristics necessary to export their products is overkill for some people, if not a pipe dream. However, despite the difficulties and scope, it is possible to achieve.In the first instance, it is prudent to note that within the SME segment, midsize companies (a workforce of between 51 and 250 employees) are more likely to export. This is because its corporate structure is better defined and allows them to envision a brighter future compared to small businesses.Here we present some concepts and practices to be considered by small and medium scale businesses to make their products penetrate foreign markets:Creating quality export products. The basic principle of an exporting firm is a product for its quality and freshness. To ensure these qualities, businesses must implement quality systems, whose functions in simple terms are eliminating unnecessary activities and the tuning of key production processes.Production capacity. Companies can capitalise in the SME segment by being more flexible and to more smoothly modify their production lines. This is important because when exporting products, companies must ensure double coverage: the domestic market and external.Leverage corporations. SMEs can place their products abroad with the support of exporting firms. This will provide access to distribution channels and marketing independently.Knowledge and expertise. Companies with export potential should have updated information on the behaviour of foreign market information. Also, to acquire the corporate, financial and legal expertise to deliver your offers in completely different national contexts.A great way to help SMEs comply with these requirements in foreign trade is outsourcing. Entrepreneurs in the small and medium sector have several options available. To choose the best option, you should explore and analyse each alternative according to the demands of their initiative.

Between 2009 and 2013, e-commerce has more than doubled. It has long since ceased to be a marginal sales channel, and has been integrated into our lives naturally. Even television ads now include many spots for all types of digital services. But how do you manage profit from this growth?

A market that continues to grow strongly

According to data, E-commerce has grown 22% more than the previous year. In all the years during the recession, the sector's growth has been in double digits. The lowest growth year (2009) still grew by 11%. This is proof that if you haven`t already, you should be getting in on some of the e-commerce slice.

There is scope for more

E-commerce still has the potential to quadruple in size given the current growth rates seen. The scope for e-commerce remains vast and as smartphone technology only increases, so too does the expectation of e-commerce as a mobile friendly facility. The trick is for you to take advantage of this and go one better than your competitors – don`t settle for second best, spend the extra money on getting a truly unique and fluid e-commerce platform up and running for your website.

Being present on the Internet is very simple

Today, there are no excuses. Anyone can start a website, the only thing stopping them are excuses. You don`t need a programmer to sort out your online business presence anymore. There are companies that provide you a hosting service with tools that allow anyone to create a site without technical knowledge. Even having a “turnkey” site and not having an online store with specific services will make life easier.

E-commerce has changed the way we buy

When I see that my parents' generation have become accustomed to looking for a product on Amazon and buy it online, I realise how far we have come in recent years. I still remember the sceptical comments when I bought my first airline tickets online many years ago. The forms of consumption have changed a lot, so it's important to have this in mind for the business you're thinking about promoting.

2014 was a booming year in the United Kingdom for startups and small businesses. According to the Department of Business, Innovations, and Skills, there were a record 5.2 million private sector businesses at the start of 2014, which was the first recorded time that the business population had exceeded over 5 million in the UKThis record increase of 330,000 new businesses since 2013 validated the 2015 public perceptions that the economic woes of 2008`s Great Recession are finally a thing of the past, and a quickly fading bad memory in this part of Europe.99.3 percent of the businesses in 2014, out of the 5.2 million private sector businesses, were small businesses that were once fledgling startups. They established themselves on the road to success by pure economic courage, perseverance, and a newfound faith in their nations` economy.

The three main categories that made up the business population at the start of 2014 were:

1. 1.5 million - Large companies - 29% of the total.2. 460,000 self-employed partnerships at 9%.3. 3.3 million - Were sole proprietorships that made up an astounding 62% of businesses.They say that statistics don't lie. It would seem a safe assumption that 2015 is going to be one of the most opportunistic times in which to launch a new startup in the United Kingdom.When speaking recently to Ryan Gallagher, the CEO of IOVOX Call Tracking and Phone Analytics, he had some wise words for anyone contemplating a start up in today`s economic, technological and social climate.I had a boss in Alstom once who had a saying that always stuck in my head. His name was John Rebus, and he used to tell me speak with data. If you believe something, go and prove it, or get as near close to that as you can then come and talk to me.” This has been one of the many useful pieces of advice that I have acquired over the years, and I still constantly use it to this day.Following this useful and professional advice in life has led to huge amounts of opportunities that might never have come about otherwise. Rarely do I ever act upon something these days without thoroughly evaluating and properly assessing it first.Wise words from a successful man and when you follow suit and evaluate and assess the current state of UK start-ups, it is clear that now is the perfect time to seize the momentum of a recovering economy that has been held back for far too long. Now is the moment to seize the bull by the horns, and tame it to your needs and aspirations in life. These are not things that are easily given; they must be taken by force with one`s sheer strength of will, intelligence, and abilities.Markets globally are expanding at a steady and encouraging rate in Asia, the U.S., and Europe, offering business opportunities locally with bigger markets opening up almost daily across the world; all eager to promote their businesses and trade abroad.With this trade, brings the need for more services with these new services comes more employers with more new jobs to offer, which circles around to more disposable income to be spent locally on small businesses and entrepreneurial startups.This in turn completes and repeats the cycle of growth by fueling and supporting the rising local economy. Understand this cyclical pattern and you can ensure your future success.Listed below are a few other inspirational quotes by successful modern day entrepreneurs, who envisioned their goals, seized the moment, and then strategically ran with them to create successful operations:

Matthew Woodward of Matthewwoodward.co.uk

"When starting out in business you should discover what you love in life first. Then, find a way to make money at it"

Patrick Drake - Co-founder and head chef at Hello Fresh - Hellofresh.co.uk

William Wordsworth, said "To begin, begin" and the advice still rings true today. One of the greatest killers of a new business is hesitation and procrastination. Don't spend 6 months creating (what you think is) the perfect product, take it to market and realise it's not what the market wants. Instead release a prototype early to test the reaction and then develop your product based on real customer feedback. In other words - Just Do it!"

Adam Connell of Bloggingwizard.com

When you start a business you can either dive into an ocean full of bigger fish and fight to get your fill or you can swim further out into uncontested space. This means either coming up with a unique idea or finding a market with very little competition. When you make the shift into uncontested space, you'll notice a significant positive change to the growth of your business.” This is also known as the Blue Ocean Strategy (also a great book worth reading).

Sofia Quintero - Head of growth at Geckoboard

"Focus on what matters. Anything that is not helping your customers to succeed with your product is a distraction."Great minds, great quotes, great ambitions, who utilised great opportunities in order to fulfil great dreams; this is what all these people above have in common.Last year, the International Monetary Fund`s Managing Director Christine Lagarde, had to publicly eat crow by admitting that they totally underestimated the strength and potential growth of the UK`s economy. This year and beyond will be the time that the great lamenters of the world will feel the same embarrassment that the IMF did in 2014, because they also underestimated, and failed to realise the potential growth for entrepreneurial startups in 2015.The United Kingdom`s future CEO`s however, will be the ones with the drive and vision to enter themselves and their businesses into the up-and-coming positive economic upswing to come, and will become the envied happy and successful haves of the U.K. Unfortunately for those who do not, they will be destined to remain the have nots of years past, by failing once again to seize the moment of today.

An essential concept in the financial management of business is cash flow. Financial analysts explain that cash flow refers to the resources generated by companies in a given period from its operating activities, investing and financing. The indicator is the result of the comparison of the financial inputs and outputs over a financial year.The measure of cash flow represents the ideal solution for companies to identify their value, assess their finances and make decisions for the future.Such measurement is the basic substance of cash flows. It portrays the sources and uses of money in circulation by companies, i.e. where it came from and what was used.The cash flow statement includes three types of activities:

1. Operating activities. This is the main source of cash for companies without considering those practices relating to investment or obtaining financing.

Within this category you have to consider:

• Collection of cash from the sale of goods and services
• Cash payments for the acquisition of goods and services
• Collections and payments made to ensure the operation of your business
• Lost income, be it interest or cash payments.

2. Investing activities. These are the activities that relate to the acquisition or sale of fixed assets.

In this category are:

• Payments and receipts inherent in the sale of machinery, buildings, equipment, and in general all those enduring intangible assets and fixed assets.
• Investments in debt management and loans made by your business.

3. Financing activities. These are the practices associated with the hiring of financial obligations.

In this section you should include:

• Obtaining external financing or any other source provided it is not operating an internal financing source.
• Cash payments for the obligations of your business.
• Disbursements, cash reimbursement or distribution partners of your company.

After analysing all these components, your company should know its liquidity. This means its ability to meet financial commitments and generate immediate cash.

Startup Interviews: Kimanzi Constable is a former bread delivery guy who self-published two books that have sold over 86,000 copies. In the last year he has lost 170 pounds and moved his family to Maui, Hawaii. You can usually find him writing while enjoying an ocean view. He is a published author, international speaker, and coach.He's a contributing writer for The Huffington Post, Entrepreneur Magazine, andMind Body Green. He is a business editor at The Good Men Project. His mission is to help men and women create true freedom in life. Join him at KimanziConstable.comand on Facebook at Kimanzi Constable.A great product or business idea is only the beginning. Gaining exposure for your new venture is critical, but many new entrepreneurs/businesses struggle with this. What is the key to getting attention and getting ahead of the crowd?You have to go where others won`t. Too often, entrepreneurs stay inside their comfort zone by focusing on what they know. They see top entrepreneurs posting on a certain website, or getting interviewed on a certain podcast, and think that`s where they need to be.There are over 900 million websites and 250,000 podcasts. There are many places to get exposure that are far less crowded than the ones we typically know. Research new and better places to get exposure. Go where the crowd isn`t, and as much as possible, go mainstream (Such as traditional media).

What advice do you have for new companies looking to gain media exposure?

Research. You have to figure out what are going to be the best outlets to get exposure for your business. Once you figure them out, study what the best practices are. If you`re writing, what are the terms of service and the guidelines? What kind of content works best on that outlet? When a pitch isn`t successful it`s usually because the business hasn`t done its research.It starts with an incredible business and product—let`s assume you`re already there. Then, it`s a matter of reaching out to as many top outlets as possible. You can also form a relationship with the editors or writers at an outlet. It`s also the same with podcasters.

Do you have any tips for pitching your business or product to the media or reporters? Do`s and don`ts for a media pitch?

Normally a pitch isn`t successful for a few reasons, but the main reason is the “ask” exceeds the relationship. Your first interaction shouldn`t be to ask for something. That`s the equivalent of meeting someone and asking them for a kiss on the lips. Your first interaction should be to form the relationship. This should be done on social media.Be Patient and don`t send a follow-up email. I understand how frustrating waiting can be, but if you want to successfully land an article on some of the largest websites in the world, you have to learn how to wait. More than that, the wait will be worth it. Editor`s priorities aren`t the same as ours.From what I`ve seen—on average—it typically takes three-weeks to get a response, and another three weeks before the article runs. For some, it happens quicker. For others, it takes longer. Realize that this is brand new; there are no definite criteria.We see no problem in sending a follow-up email to see what`s up. From an editor`s perspective, it`s annoying. To them is says the person will be difficult to work with. They are getting a pitch from a stranger, and then the stranger is questioning why things aren`t moving quicker? That`s how it comes off even if that`s not your intent. The follow-up email could cost you the opportunity. How do I know this? I had an email exchange this week with an editor at the Huffington Post. She told me this is the reason most pitches aren`t successful.Target the right publications. I get a lot of articles sent to me for The Good Men Project. Instantly, I can tell if an article will get the desired result for that person. I have people write articles about parenting who are in the online business space. Those articles won`t get them any clicks.If your goal is to get credibility to leverage other places, that`s one thing, but if you write somewhere just because they have a lot of traffic, you won`t get your desired result. When someone reads a parenting post, and then your bio says you`re an online marketer, there will be a disconnect in the readers mind and they won`t click. Target the publications that best fit your message.Connect with an editor. One of the first things you should do is Google the editor. See what they`re up to. Connect with them on Twitter and share their content. If they have a blog, comment and share their blog. Nothing fake, actually read and understand what they`re saying. Your goal isn`t to be their best friend, but you do want them to recognize your name. It will make the pitch smoother and more effective.Don`t pitch multiple editors or different publications. Pitching multiple editors would get you better results, in theory. However, in reality you end up coming off as a spammer. Editor`s talk, and when they enter the article in the queue, another editor who you pitched would see that. Your article gets rejected and you get put on a “do not accept” list.Don`t pitch multiple publications with the same article. I know of a few people who had their articles accepted in all three of the places they pitched the same article. When he informed one, they emailed the other two and the article was rejected in all three places.This interview was brought to you by Capital Office Your Virtual Office London.

Entrepreneurs need resources to transform their corporate projects into a tangible and profitable business. Small and Medium Enterprises (SMEs) require capital to evolve, by getting a foothold in the market and to eventually expand.These resources typically allude to what we know as financing. Experts in business administration define it as the mechanism that allows entrepreneurs and companies to acquire the assets they need to launch their production processes. Furthermore, this helps meet the expenses related to them and, in general, aids with the overall development of their initiatives.Funding has no specific origin but comes from various sources, all willing to offer financial solutions to business leaders and their companies, but not without getting some revenue.As a result, the options available to an emerging entrepreneur are diverse:

1. External Financing.

- Bank credit specialising in the SME sector.- The short-term credit granted by suppliers.- The deferred payment to suppliers.- The capital injection by an investor.

2. Domestic Financing.

- The capital of the entrepreneur themselves.- Contributions of the partners (if the company has them).- The proceeds from the productive activity of the company.- The sale of idle assets (those that are no longer used).All these alternatives (except as regards to the entrepreneurial resources), represent certain costs for companies.Funding associated with bank loans must be repaid with interest included. Credit agreed with suppliers will have to be settled by the deadline, otherwise the risk of losing their services or supplies will apply.Similarly, the investor benefits after injecting money into the project. The partners want to get better dividends than to bet their capital in less risky financial instruments. Therefore, although the sale of idle fixed assets represents certain income from capital, this will be lower than what would be achieved from the sale of assets in terms of use.As a result, potential funding partners have to assess your financial situation, consider all alternatives available to promote their projects and define what the costs of each are to make the best decision.They will take into account financial conditions, interest rates, payment terms, fines and penalties for non-payment, and benefits payable by creditors, among others.

An interview with the Co-Founder of inventRight; Author of One Simple Idea Series, Stephen Key is an inventor, author, speaker and co-founder of InventRight, LLC., a Glenbrook, Nev.-based company that educates entrepreneurs in how to bring ideas to market.

1) The idea of "renting" out your ideas is fascinating to me. How did you come up with this as a business model?

I worked at Worlds of Wonder, a startup toy company, in the 80s. I watched the creator of Teddy Ruxpin, the talking teddy bear, collect royalties on every bear that WOW sold. Teddy Ruxpin was the best-selling toy in 1985 and 1986. I can remember traveling to China, looking at the bears roll off the production line, and thinking, Ken Forsse is collecting millions! My father always told me that if I wanted to create wealth, I needed to find a business opportunity that had a multiplying effect and that didn't require my presence. Soon after I arrived back in the United States, I quit my job at WOW.Licensing seemed so straightforward to me. If I could design a product that a company could sell, they would pay me for my efforts. It was and is more or less working on spec.

2) Can you share a few of your most successful ideas that you licensed to other companies?

One of the first ideas I licensed was the Michael Jordan Wall Ball. It was an indoor Nerf basketball game whose backboard was shaped in the image of Michael Jordan. I licensed it to Ohio art. At the time, they were selling Nerf basketball games that had a very small sticker of Michael on the backboard they were boring. The Michael Jordan Wall Ball sold for more than 10 years. Ohio Art also created different versions of the game using other basketball players` likenesses.I am also the creator of a rotating label innovation I named Spinformation. I`ve collected royalties on hundreds of millions of labels. The label has been featured on Nescafe coffee in Japan, Jim Beam`s DeKuyper liqueurs in United States, and Rexall Sundown Herbals. It is currently featured on bottles of water in some national parks as well as colleges.

3) How do you know when you have a good product idea?

You never really know if you have a good product idea, but there are a few indicators I rely on to let me know that I`m on the right track. Does it have a large market? Can it be manufactured easily? Is it easily demonstrated (in other words, without having to educate the consumer)? And of course, does it have a high profit margin?

4) What is your process for validating your idea?

I validate my ideas by submitting them to potential licensees—which is not only easy to do but also affordable. After all, their opinion is the only opinion that truly matters. First I file a provisional patent application. Then I begin submitting a one-page sell sheet that showcases the benefit of my idea. I quickly discover whether or not there is any interest in the idea.

5) How do you find potential companies to license your idea to?

Identifying potential licensees is easy. I like to visit retail stores I think would sell the product. I locate the aisle where similar products are sold; the companies selling products in the same category are my potential licensees. I also use the Internet to flesh out my list. Doing a Google image search generates a lot of similar ideas. I add the companies manufacturing those products to my growing list and contact all of them.

6) How do you protect your idea while you are pitching it? Do you need a patent?

You do not need a patent to license your ideas. Most of the ideas I (as well as my students) have licensed have not been protected by intellectual property, save for a provisional patent application. Companies pay royalties for ideas that are not protected by IP, for ideas that have patent pending status, and of course, for big ideas that require a wall of patents. To succeed at licensing your ideas, what you need to do is have established perceived ownership. I have a new book coming out this month that explains what I mean by that in great detail. It is entitled How to Sell Your Ideas With or Without a Patent.

An interesting option for new start-ups and something that can give a great return on investment is opening a business in a shopping centre. This reflects the fact that this type of complex maintains a constant flow of relevant consumers.However, for a commercial initiative of this kind to succeed, it is essential to gain information on the following aspects: market, selecting the centre, consumption habits of potential customers, paperwork, financing and growth strategies and consolidation. This is crucial because blindly undertaking a project of this scale can devalue your investment.

To successfully implement your business in a shopping centre, put into practice the following recommendations:

- Define your goal. What is your goal? Succeeding in the big leagues, where you will face more intense competition and have to invest more money - or start with intermediate links, which requires an investment of smaller rivals and there will be less income due.- Perform market research. Once you've defined your goal, you must know thoroughly the chosen site. It is no longer enough to know how many people will walk through, but to identify what kind of people too, what kind of offers exhibits the complex and what need can or will solve your business in that place, or if you will create one. Thus, it is essential that you evaluate the site's features, customer profile and know kiosks, and local islands that are already up in their place.- Know your potential competition. Display initiative and visit the places you are interested in for a week for example and at different times. Observe the behaviour of users with respect to established businesses. Identify trademarks displayed on the site; detect who your rivals are and how prestigious they are. This is an important indicator of what you will face, because if you stumble upon a top-end business, your chances of success are reduced - unless your concept is so original and powerful enough, that it overcomes the expectation.- Investigate costs. Weekly costs can range according to the location, the time of year that you wish to trade and floor space, but the average rents are from between £300 - £700 per week.If instead, you want a kiosk or an island to trade from, investment costs and monthly rent per square metre are decreased, but are a function of the total occupation of the allocated space.Moreover, you should not forget the expenses for maintenance; typically represent 10 to 20% of the monthly rent, payable additionally.- Define the ideal business model needed to transform the market need that you detected or created in a conceptual project. You must select the right business twist, the ideal space and give identity to your initiative, one that differentiates you from the competition, but that makes it seem alien to commercial ecosystem of the centre.- Create a solid business project to use all the information gathered to develop your business plan.. At this point, you should be clear about your strengths, weaknesses, threats and opportunities, as well as capital you need to implement your idea.- Comply with the necessary formalities with the managers of the shopping centre and complete the paperwork related to admission to the leasing of space.- Implement strategies from the beginning. As soon as you start your business, you need to engage your employees to your business and differentiate your initiative further, which is only possible with added value. What do we mean? Promote your offer with services or additional benefits.