Productivity

We live in a digital world, and new communication tools like SEO or strategies in social networks can make a big difference for start-up business. However, it`s easy to forget that offline communication can also be very important to your business. Here are some examples.

Your brand

Before you start talking about offline advertising media, I would emphasise how important your brand is, and to build it can be very interesting using some classic tools.The exterior decoration of your office, especially the signage is the first thing potential customers will see. This first impression can convince them to find out more.The business card is another classic tool that should not be neglected. You never know when you'll be able to talk about your business, and to give a card out is an excellent way this person with whom you exchange a few words with, can remember you and possibly contact you later.When you try to explain what makes your company, sometimes there's nothing better than a graph. A well-constructed prospectus can convey ideas in a much more powerful way than words.

Offline advertising

People have continued to see and hear ads through traditional channels, be it published or broadcast. The TV still has a large audience, much like the radio. It is true that newspapers have suffered, but they still remain considerably popular. But as an entrepreneur usually doesn't have the budget to advertise on television, radio or national newspapers, look into the vast array of alternatives.

Marketing strategy

The mailing, distribution of flyers or placing advertising on shop windows is still very effective methods to seduce a local clientele. Everything depends of course on the type of business you have, but for hotels, gyms, shops and local services for the public – this will work very well. In order to print these formats, you can come across good deals on the Internet and test online printing services.Sending letters by physical mail can also work very well, especially when targeted to customers who have already purchased products or similar services. This then means you can send a promotion or other important information.Advertising in trade magazines can be very effective depending on the sector too.Local advertising on radio, television, outdoor signs or local newspapers can also be very interesting if you have a local activity for the general public. In a big city, placing an ad in a tube station near to your business can bring in important clientele.You can also organise events, participate in trade fairs and conferences.All these options are part of your strategy of offline communication.

Seek the right solution for you

Clearly, if what you have is an online store, your main communication strategies are going to be through the Internet. But for a ‘bricks and mortar` business, offline communication cannot be underestimated. You have to proceed with a trial and error strategy, and see what works for you and what does not. You will have to try to associate and track each communication technique until you discover one that suits you best.

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.

Are you one of those who say`s "I`d like to create my business but ..."? If you really want it, it's likely that what is holding you back are not valid reasons, but excuses. And the excuses often disguise apparently very rational reasons. So here is a list of 10 tips to refute excuses and move on to success.

Are you afraid?

Normal. Doing something different always produces some fear. But do not confuse fear and real risk. Instead, streamline. Discuss what might happen and see how you find solutions to keep going even if things go wrong. If we let fear control our lives, we would not come out ono the street. And what about the feeling of overcoming your fears? It's called courage, and it is very rewarding.

Don`t have contacts?

Nobody has at the beginning. Unless you come from an entrepreneurial family, the contacts you build will come slowly. There is no magic formula, but it gets easier.

Do not have money?

This is even more common than having no contacts. It means that you`ll have to think of a more efficient system. Look for ways to start small, get your first customers, and see it grow. If you need a little more money, then work and save. You can also borrow money from family and friends. But again, there are ways to start a business without money, especially online.

Do not have time?

This excuse is also used by those who do not want to do sports or always postpone the day they will learn this or that. We all have some time spare. If you want something bad enough, you have to prioritise what you do.

Do not have the knowledge?

Before you learn something, usually no one knows. This is an easy solution and it`s called training. You can read information online as you are doing now or look for something more structured, online or offline, through public or private education. You have many options.

Do not have the required skills?

One of two things: either you have chosen a business that does not suit you, and then the solution is to perhaps look elsewhere. Or you only have some skills because no one can do everything, and in this case you need to surround yourself either with external advisors or professionals who can guide you.

Do not have a business idea?

Sure you have it. How many times have you seen the failures of other business and thought you'd do differently if you were the owner? Those are business ideas. What works best is to improve the existing ideas. Do the same as the other, only a little better.

Cannot afford the risk?

You may have the responsibility of a family, but this is again turning to the excuse of fear. To live is to risk. Starting a business is risk. The issue is you have to take calculated risks.

Are you still refining the concept?

There is no perfect product. When you put your product or service in the market, you might feel a little embarrassed because it will never be as you wished it to be. You have to then strive for a better version depending on what your customers want, not your personal concepts.

Are you too old, or young, or your health is not perfect?

There is no optimal age to undertake ventures. Young people are generally more enthusiastic and have greater energy, while the older enjoy a wealth of experience and more contacts. And health? Unless you have something very serious, it should not be a barrier. As mentioned earlier, when you undertake what you choose, you can usually find a way to overcome your problems.

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.

So that your business plan becomes a tangible and scalable corporate project, it is essential that a document is made outlining the mechanisms you`ll use to deliver to your potential customers.This document is typically known as a business plan, which, according to specialists in business management, is the foundation of your company where you have to map the actions that will make your initiative feasible.Experts say a solid business plan includes 10 essential elements, which we explain below:1. A need to market. Your business must have a purpose. And that is simply to solve a market need and seize an opportunity that no company has capitalised on. Without this basic premise, there is no feasible project.2. Description of the solution. Define your market need, and take actions to resolve it successfully.3. Originality – offering value. You have to establish clearly what makes your business different from the competition. It is essential to analyse the strengths and weaknesses of your opponents, and expose the benefits of your initiative.4. Key players in your business. Who will accompany you on your corporate adventure? Will you have a partner or several? Begin to shape the characters that occupy strategic positions in the structure of your company.5. Target audience. Find out who will benefit from your solutions or offers, that is, who are the protagonists of the market space you are going to attack.6. Size of your target audience. Evaluate your target, determine its size and identify their growth rate. This data will help you to realise your financial projections.7. Marketing strategies. Once you've defined and you analysed your target, you should raise the mechanisms to communicate with them. Search the means by which your offer directly impacts your potential customers.8. Exploration of income. You need to perform financial projections to foresee potential income and expenses. This includes the following components:- Structure prices.- Costs (fixed and variable).- Hometown (probable) of your income.- Expenses.- Profit margins.9. Budget and financing. Determine how much money you require to start your business and encourage its development. Then think about the financing options you can use to test your concept and make adjustments if applicable.10. Plan to cover expenses. You have to develop a plan to ensure the operation of your business in its initial phase. Create some scenarios and calculate how much you would have to sell to meet the needs of your growing business.Your Virtual Office London help many small start-ups become larger businesses by helping them appear more professional through our virtual office services. If you would like to discuss how we can help you please contact the team today, we are always happy to help.

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.

It`s always important you help to diagnose any financial problems with your new business and chart the path to its success. So, companies need a financial consultant to review their financial status to see what they have done well, what they have done wrong, what resources are available and, based on this, create the right strategies to achieve the objectives outlined.The beginning of 2015 is a good excuse to discuss your company and write down the result of this analysis, so that, throughout the year, you observe your financial developments and, if necessary, implement the necessary changes. But what must include this assessment? Below is the answer:- Review of previous goals. Before creating new purposes, know what goals you fulfilled in the previous year, which objectives were in the pipeline, what difficulties or obstacles on the road and find what you used strategies to meet your expectations. This represents an invaluable learning resource that should not be underestimated.- Planning of new goals. Based on the analysis described above, define the purposes that guide the actions your business. Determine which need to materialise and see if your business is financially prepared to meet them.- Prioritisation of needs. Think of your business requirements and determine which one requires urgent attention.- A look at security. Evaluate your policy; check your coverage, the insured amount, deductibles, and beneficiaries. If you're not convinced, explore the market and find the insurance that offers maximum protection at an affordable price.- Analysis and organisation of debts. Experts in corporate finance clearly recommend you to organise your debts. To do this takes into account payment terms, interest rates, minimum amounts, type of debt, and so on. It also reflects on the origin of your debts so that you avoid harmful financial practices.- Compliance with tax obligations. Did you have tax problems last year? Could you solve them? Prevent fines and other charges that may decapitalise you. Be focused so your mission will be clear what you pay, what you can deduct and when to declare.- Ability to invest. To meet the objectives of your business will need money. Define the capital available for investment and also the resources that cannot be touched.- Projected revenues and expenditures. Think of the fixed costs of your business and the money you intend to enter. It also reflects on extra income and unforeseen expenditures. The goal is to have control over the capital of your company and make timely responses to contingencies.Your Virtual Office London has helped many small businesses start up from across the globe. When you start a business it is important you take advantage of services such as a business consultant who may be able to see areas of growth, weaknesses and streamlining possibilities which could in turn help your business becoming more grounded and ultimately more profitable. A business is consultancy evolving and it can be alot to handle for some new start-ups.

Letting your business grow exponentially in certain periods is not a sure sign of continued development and this shouldn't also be a green light for you to spend money indiscriminately.In fact, every business, whether small, medium or large, should be careful with the economy of their business, whether you are in a boom period or not. It is a must for you to exercise control over the capital of your company, and keep it financially stable.Budgeting is cumbersome and unpleasant for many business leaders. However, it is a core task for companies like yours to maximise the capacity to develop and cope with economic contingencies that are beyond your control.The inherent discipline of creating a budget is key to your project. The budget is for all types of businesses. For a new business, budgeting is an economic platform that helps them avoid mistakes that can bury themselves hopelessly. For large corporate organisations, it represents a useful tool to distribute their capital strategically and to plan an expansion tool. It provides them the necessary discipline to avoid oversights.A basic need: Many think that the budget serves only to give you a starting address to a business and nothing else. This provision is necessary for businesses to raise new goals and achieve, especially when growth rates are above 30 or 40%.The budgets are drawn up each year, but should be tested monthly to know if capital has been allocated to the goals or, if appropriate, corrections made. This is called flexibility, a key feature in corporate survival.Get involved in the finances of your business. Do not let your dream destination be solely in the hands of accountants and lawyers. Naturally you do not possess the knowledge they have, but they are not experts in what you do. So what should you do? Learn a little of both issues and, above all, know what you're getting.Combining these two actions will ensure a healthy and fruitful relationship with money and legal specialists. If you are disciplined in economic terms, no one will stop you.