(1) Establish separate accounts – This is the most obvious point, but you would be amazed how many people do not do this. Set up a separate account for your business and for your personal affairs. As long as you do this, once tax return time comes around, all you have to do is look in the one business account for all the details you need.

(2) Separate Storage for Receipts – Again, if you have one box for your personal receipts and one box for your business receipts, then it will be much easier to organize all the taxes and expenses claims for your business, without having to madly pour over thousands of receipts trying to work out which one was for personal use and which one for the business.

(3) Get a Business Credit Card – This is important for a couple of reasons; the first is the same as the two above – you will be able to keep track of purely business spending on it. But the second reason, equally important, is that you will be able to use it to establish a credit record and credit history for your small business independent to your own personal credit status.

(4) Set Fixed Budgets for your Business – this means setting up a fixed program of spending based on your business earnings. What this will do is prevent you from subsidizing the business out of your own pocket if there is a shortfall. The business needs to be able to stand on its own, without you adding in extra personal money. A firm business budget will prevent this. 

(5) Have a Clear Idea of What Constitutes a Business Expense – Expenses are one of the biggest areas of confusion for small business owners and it is worth chatting with a tax attorney to clarify what you can reliably claim on expenses. Find out which meals and entertainment bills are deductible before you start taking everyone out to dinner!

(6) Make Clear the Dividing Lines Between Office and Home – This is important if you work from home. Try and set up your home office in a very clear separation from the house, so that it is relatively easy to calculate infrastructure expenses (building work, office equipment) and utilities bills. These can include electricity, gas, phone and broadband.

(7) Log All Business Costs Immediately – If you use a car for both personal and business use, keep a log book in the car and jot down business mileage every time you go out in the car. Same with a phone bill if you work from home but can’t afford a separate line.

Following these simple tips should make your life a lot easier everytime the dreaded tax return comes around!

Esther is a journalist and blogger who writes about small business and freelancing. She covers everything from contractor tax to how to set up umbrella companies.

Steps to Cut Business Expenditure

Make an Inventory

To begin with, make an inventory of all the things your company spends money on right from insurance policies to computers to printing paper. Browse through this list and identify the superfluous items on it. It might sound trivial but once you actually perform this drill, you will be surprised to see how much your office might be spending on coffee or unnecessary magazine subscriptions.

Buying Strategies

While buying things for your office, it is always a good idea to buy them in bulk. This way, you can get decent discounts and you don’t have to worry about refilling stocks of things repeatedly. Additionally, you could also buy used items like computers or photocopy machines off the internet.

Office Rent

If you have just started your business venture or if it is still in its early stages, paying the rent for your office is a major monthly expense. If you are finding it difficult to pay this amount, you can always have a candid conversation with your landlord and request him to modify the lease. In dire straits, you can also consider subletting a part of your office. You should check with your landlord before taking such a step.

Internet and Phone Service

Internet and phone services form the backbone of just about every business venture in this day and age. It is impossible to even conceive of a business without these two services. You can look for special corporate plans which offer discounted rates to small or mid-sized business ventures. Make sure not to compromise on the quality of these services.

Advertising

It is no secret that social networking is the next big advertising platform. Therefore, it is time to re-think your advertising strategy and invest in advertising through Facebook or Twitter. The good part is that this move will also save you some money without compromising on the performance forefront.

Outsourcing

Outsourcing might mean a little more management but it is much cheaper. You can always outsource your content, design or programming requirements. In some cases, you can even outsource your accounting services and HR.

There are many other ways of cutting down business expenses but they all depend on how extreme the circumstances are. Firing employees and re-working their insurance plans should be the very last alternative. You will be surprised to see that small measures can go a long way when it comes to curtailing business expenses. The crucial idea is not to compromise on the quality of services provided to the customers. You have to find that fine balance between cost cutting and professionalism.

Brent Ryan is the Chief Editor at Mypetinsuranceplans.com a site specializing in pet insurance reviews and info.

A selling position that is created just for your company is one that allows you to have a complete understand of what your customers want and need from you. This is what sets you apart from the competition. This is what will really give you a edge customers prefer to deal with business that they feel understand them.

It is not enough to have a great product and great prices you need to also have that personal touch that lets customers know that you are paying attention to what they want. This is what makes your business the one that gets the referrals and repeat business. Almost everyone in business will claim to care about their customers’ wants and needs but it is really showing this that keeps people coming to your business.

How to know what your customers really want from your business.

It is important to know why your customers return to you instead of the business down the street. What can you do to drawn their attention to your small business, to show them that you are willing to go that extra mile to make them happy customers?  To know the answers to the questions you will first need to ask yourself a few other questions.

• What makes your small business different from the other ones doing offering the same services?
• Why exactly should they buy from your business?
• Do you have a way to express to your future customers a idea of what your business is willing to for them.

The reason you need to develop a strong and effective selling position is so that you can make your future and current customers aware of how great your business is and that they will not regret doing business with your company. It is important to make sure you let them know that your small business is able to give them everything they need and some things they may not even know that they need.

Real Steps to Making a Powerful Selling Position.

Having a good selling position is extremely valuable. Its benefits can be measured by your customers. It is important to make sure that you as a small business owner understand what you are offering your customers and why they need it in a clear and concise manner. If you don’t really understand it then your customers will not either. This is where planning comes into play. If you have hired a small business coach then they will help you to make your selling point clear and exciting to customers. You have worked hard getting it all together maybe you even decided to work with a life coach to help you pull it all together. Having a mission statement at this point is vital for your plan to succeed.

You need to determine a few things when making your plan. Ask yourself what makes my business different and special? What will make customers choose to come to me instead of someone else? What can I offer that no one else is offering?

Now that you have a great plan for your selling position it is time to put it in action. Following these steps will make your business very successful.

About the Author

Morris N. Mann, P.D. – Morris helps solo business owners and professionals achieve successin business and greater happiness in their personal lives. For over 15 years he worked as abusiness executive responsible for marketing and systems management in international product and service companies. He has a Ph.D. in psychology and has been a sought after life coach for over 10 years.

In the early start up phase a company may require an initial investment to move as quickly and as smoothly as possible from concept to functioning business. The amount of investment that can be realistically expected will depend not only on the strength of the business concept, product or service, but also on the structure that is in place.

If a start up has a qualified management team in place this will increase the appeal to investors and the amount of funding which the company can realistically seek. Even if this team is not in place, but those involved in the company have a strong idea of how the management team is going to be structured then a company can begin the preparation necessary to approach potential investors.

The structure of the management team, and indeed the structure of the business itself, will of course require a business plan. The basics of the business plan should cover the value of the product or service that is offered; how it will sit in the market and the costs involved in bringing the product to market. Investors will need to know the potential for profit that the company can offer but also they will need to know that risks in bringing the product or service to market are also understood by the company.

It is advisable in most cases that new companies do not approach investors until a solid and well thought out business plan is in place.

A good business plan should take a long term view and where possible anticipate the need for further investment, as the business grows and develops. Company owners and managers should also be flexible enough to modify the plan as the company moves forward. If the goals of the initial business plan have been met or changed then it may be time for an injection of more capital to ensure that the company maintains its position in the market and can reach full potential.

Approaching investors at this stage requires a different strategy than in the earlier stages of the company. The owners of the company will need to demonstrate a deep understanding of how the company has performed in the past, as well as being able to project future performance. Good performance tracking methods therefore are essential.

There are many different sources to approach when seeking investment. Initially, this may be banks or family members, or possibly Angel investors. An Angel investor is an individual or group who provide capital for start up businesses in return for a share in the company or for convertible debt.

When a company has been in business for a longer period of time it may be able to approach different kinds of investors, such as venture capitalists. The majority of venture capitalists will require a share in the company in return for their investment.

This article was written by Workbooks, leading supplier of online CRM software.

However, there is good news if you are willing to put in the effort. There are still a number of options out there for alternative sources of funding and if you follow the right steps, you will be able to get that funding. All you need to do is work out how much you are going to need for everything, including premises, stock, equipment, wages and other associated costs and then approach one of the following options:

Try at the bank with their small business advisor: Despite the lack of available funds the first place you should go is still your bank. They will know your financial situation and you will have a relationship with them – and they will know if you are good for the credit too. Talk it over with their advisor who will be able to tell you if they think your plan is viable and your business likely to succeed.

Think about using some equity from your home: If you own your own home and you have equity available then it is possible you could release some of this equity as some kind of secured loan, which would then be used for your new business.

Borrowing from friends or family: If you’re ok with doing this and so are they, then friends and family can be a valuable and helpful way to get your business off the ground. Just ensure that you get everything down on paper from the start and that you make it clear that things could go wrong – the last thing you want to do is fall out with your family over money!

Peer-to-Peer-Lending: Along with purchase order financing, peer to peer lending is another recent innovation for small businesses. An online broker will put your business and your business idea together with a network of investors and individuals who want to make small micro loans as a business investment.

Government Loans: In the current financial climate, the government is as keen as possible to get businesses up and running. Consequently there is a lot of small business start-up finance available if you know where to look. What’s more they offer low interest loans and are reliable and keen to help. The only downside is the amount of hoops and bureaucracy you will have to jump through.

Esther is a financial journalist and blogger. She writes about all areas of personal finance from mortgages to credit cards to umbrella companies.

Drop shipping works simply. Customers zero in on the drop shipping website while conducting an online search for the product they wish to buy. Once they place the order, the retailer accepts the payment and then passes on customer information to the wholesaler or manufacturer along with the shipping address, so that the order can be dispatched as per schedule. The producer gets his price and the retailer gets to keep a margin as profit for only booking the order.

Some of the benefits of drop shipping are:

• Low establishment costs – online businesses do not need the investment required for setting up physical, real word stores. Ecommerce businesses set up stores online which are essentially websites, and the only expenses incurred, are those for designing the websites and using a web hosting service.

• Wider product range- retailers, both online and in the physical world, are somewhat restricted in the range of products they offer due to the expense and investment involved in stocking products, getting a warehouse for inventory and other related expenses. But with drop shipping, no investment is required since products do not have to be bought, no warehouses are needed, and all related issues get resolved as well. All that is needed is a landing page for each product being offered, index page for search engines and other similar website features that cost a fraction of the store cost.

• Fast entry into market- The Drop shipping business model can start much faster than any other business. Once products and their manufacturers or wholesalers have been indentified who are supportive, and the website has been designed, serious business can start. There is nothing like a waiting period or a gestation period for business to bring in profits.

• Introduce new products- Drop shipping is a perfect platform for the launch of new products. All that is needed is a landing page on the website without any risk of investing in an untested product. This is also a perfect trial method to gauge public response to a new product.

• Loans and funding requirements are low- When a website with multiple landing pages is the only requirement for the retail drop shipping business, investment and loans become unnecessary. No stores, stocks and overhead expenses are to be made and the startup business becomes less risky.

• Less time involved- retailers often find themselves cash strapped when inventory level is high and goods are not sold-this means their capital invested is blocked and the time span between investing and getting returns is high. With drop shipping there is hardly any investment and capital need not be blocked at all.

Such advantages make drop shipping a tempting and lucrative business proposition. But it has its fair share of problems and challenges. The biggest challenge faced by drop shippers is providing excellent customer service with no hiccups in deliveries through wholesalers. Additionally, this is a low margin business, since the markup a drop shipper can charge will be the discount the wholesaler is able to offer him for the volume of orders he manages to get. The price he charges has to be at par if not lower than that offered by competing sites. Additional expenses like card payment fees etc further eat into the thin margins.

This post has been submitted by Neil from eMobileScan, who are a dedicated B2B supplier of the latest handheld technology like the Motorola ES400 and the Zebra GK420T which allows them their customers to reduce costs and improve efficiency

1. Be sincere. Your sincere belief in the value of your company’s product or service, or the ideas you’re selling to others in your organization, often mean more than any fancy sales techniques. When your passion is genuine and palpable, others will feel it too.
2. Support your position. Sales professionals are typically experts in the product or service they are selling. They know the ins and outs of what they are offering and how exactly it will fulfill a need. Make sure you have supporting documentation to back up why the product, service or idea you’re selling is the best.
3. Be persistent. Sometimes you will hear “no” a lot before you get that final “yes.” If you’re not getting the response you want, fine-tune your proposal and try again, or try someone else within the organization.
4. Understand the value of middle management. Although middle management may not have the final purchasing say, often they are the gatekeepers you need to go through to make a sale. Get their support, and you are one step closer to making the sale!
5. Listen more than you talk. By listening carefully to a customer’s needs and pain points, you’ll make sure to hit the hot points for your customer when describing your product or service.
6. Follow up with your contact. Selling often isn’t a one-shot deal. Put it on your calendar to follow up with your contact if you haven’t heard from him or her.
7. Slow it down. People are often nervous when giving presentations of their products, services or ideas. This can result in speeding through the material. Take a deep breath, remember to pause, and slow down.
8. Remember, it’s about the relationship. Sales is about building a mutually rewarding relationship between you and your customer. Instead of just selling your product or service, build this relationship.
9. It’s not about the features. Customers rarely buy something because of the features of a product or service. Instead, they buy by virtue of how a product solves a problem or fulfills a need. Focus on these aspects—not the features.
10. Put yourself in their shoes. Before making your presentation, consider what your customers may be thinking about. Try to anticipate what benefits they’ll appreciate but also try to anticipate what pain points they may have regarding the proposal, and prepare to address them.

Randall Davidson’s company, AudioTranscription.Org, supports new and experienced salespeople through it’s market research transcription services. Randall’s company also offers focus group transcription services, in order to provide salespeople and marketers with a better understanding of their potential clients’ needs and desires.

Get Experience

Leaving the corporate world to pave your own path can be daunting. There are many unknown factors with starting your own business.  How much money to make to cover all you’re needs, where to get new clients, etc. But being experienced in your new business venture will give you the knowledge necessary to start off right. Look at your current role and past experiences in other jobs and life situations. Ask yourself what tools and traits have I learned that I could leverage in my new business. Are you great with people? You will be able to bring in new clients naturally. Are you a good designer? You can market yourself with spiffy brochures and marketing campaigns. By recognizing all of your talents you will feel more confident in your new business role.

Know Your Audience

Before you even open your new business doors, make sure you have a clear understanding of whom you are talking to. Most new business’s that open fail because they do not understand or meet the needs of the right audience. Ask yourself what does your product and service do for others? What problem does it solve for people? What are their needs and desires? How can you make their life better?

Be Unique

Make sure that your product or service is unique. Understand the marketplace and study your competition. If you want to start a new business being a coach for executives then study and read about the industry. Who is doing what you want to do? And who is doing it well? Study them, make sure you don’t imitate them and set out to do it better. You are unique and individually you. Naturally when you set out to create a new business it will be unique to you. Celebrate your individuality and add your personality into your business.

Make a Business Plan

Most new businesses flop after the first year because owners fail to do one thing – make a clear business plan. Put your goals to paper. Break down your business into quarters and focus on what you want to achieve each time. Don’t forget to promote yourself and use local resources, such as the newspaper and local news channels. Work with a writer or craft your own press release. Sharing the news about your new business can ensure your success.

Shannon Kaiser is a lifestyle tip writer for many online and print publications. To get more healthy living tips visit Southwest Portland Dental, a Dentist in Southwest Portland.

Get Personal

The more your marketing targets positive and strong customer relationships, the more loyal your customers will be and the more attractive you will be to potential ones. You may have never sent follow up emails in the past or splurged a little on personalized packing tape but you need to now. Your customers need to know how much you appreciate them.

Evaluate your Message

What message are you sending to browsers and how do you compare to your competition. If you were visiting your own page for the first time what is the first thing you would notice? Is there a sentence that jumps out at you? If so, is that sentence portraying you positively?

Be Different

There’s a good chance you are selling the exact same thing as a large number of people but that doesn’t mean you can’t sell it differently. If you carry a specific type of dog collar, why not sell them in packages with a leash or offer them personalized? You could always throw in a free dog tag or bag of treats as well.

Evaluate Your Product Descriptions

Many sites utilize almost the exact same description of many products. Not only is this hurting your search ranking with Google if you look like duplicate content, it’s not doing anything to excite the reader. If you don’t have time to write product descriptions for your site, consider hiring a freelance writer for you so you can really stand out from the rest.

Appreciate Your Customers

The more your customers know they are appreciated, the more likely they are to come back to you. Repeat customers are the bread-and-butter of any business. They are loyal, they enjoy their shopping experience, they are more likely to take the time to write reviews and they will refer others to you. Not to mention, they often spend more money because they’ve already had a favorable experience with you.

Make Use of Social Networking

Do not underestimate just how powerful and effective social networking sites like Facebook and Twitter are. This is free marketing that you need to be taking advantage of. Not to mention, this gives you the chance to connect with customers on a personal level and keep them aware of sales and specials.

Shop Around

Do you do any shopping online? If not, you need to start! You can learn a lot about what not to do when you run across sites that make the shopping process difficult. Evaluate not only your competition but other big name stores too. What are they doing to make it easy for customers to buy?

Upgrade

How old is your site? Sure, maybe you change the font, layout and even video frequently but are you updating other areas? Do you accept PayPal or Google Checkout? Are you offering international shopping yet? If not, you could be losing out on a lot of sales.

Ask Questions

Don’t be afraid to ask your best customers why they keep coming back or if there is anything they would change. If you have customers who haven’t made a purchase lately and they used to shop all the time, email and ask the why they haven’t been around and what you can do to earn their business again.

It doesn’t matter how successful you are, there’s always room for improvement. Never be satisfied. Appreciate the sales you have but fight hard for more.

This guest post has been provided by Neil, head of marketing for eMobileScan, an ecommerce site dedicated to B2B sales. Its product set includes handheld computers like the Motorola MC9190 and Es400. Both units have been designed to cut costs and increase productivity which is essential for any business to succeed in today’s marketplace.

Overvaluation and errors occur often and you have nothing to lose if you appeal to the county.  If you do appeal, the assessment will either stay the same or it will be lowered. It cannot be increased and you will not be fined.  Depending on what county your property is in, it will be reassessed typically every two to five years.  However, you can make an argument for lowering the assessment at any time if your property’s status changes (i.e. zoning changes, structural changes, changes of ownership, etc…)

1. Great Tips

Throughout the year, take note if there is a change in the condition of your commercial property at any point. Also, make sure to review this at the end of the year, when it comes time to pay your tax bill.  The factors you should be looking for include (but are not limited to):

• Loss of a tenant
• Renewal or renegotiation of a lease, resulting in a loss of revenue
• Vacancy of any portion of your property
• Significant improvements or repairs
• Physical damage to a property including vandalism
• Environmental issues
• Overall decline in market value that warrants a lower appraised value

If any of these changes occur, you are not guaranteed a change in your property’s assessment,  but it may warrant an assessment review upon appeal.

2. Foreclosure

A foreclosure or deed in lieu of foreclosure (when property is sold back to the lender to avoid foreclosure) can also provide enough evidence that the property’s value has deteriorated.  Also, purchasing a property at less than the value it is already assessed can provide evidence that the property was overvalued when it was purchased.  This information can be used to lower the assessment value right away and you don’t have to wait until the property is due to be reassessed.

3. What Now?

If you own any commercial properties, the sooner you can evaluate them, the better.  If you have a property that you believe is overvalued, it is in your best interest to move quickly. The county will not refund money back to you for an overvaluation, even if it seems an obvious error on their part.  If you feel you have a strong enough case, you should consider hiring an attorney who specializes in real estate tax assessment appeals.  An attorney can expedite the process and make a stronger argument with the county.

The main thing to remember is that a reduction in taxes due to assessment is not an automatic process.  The county leaves it up to the owner to find these corrections and without your input, they have no idea that condition of your property has changed.  Also, if your property is now more valuable, there is no point in bringing this to the counties attention, they will figure it out… eventually.

Kelsey Jordan looks to websites like Iowa City Real Estate for great advice on how to save on real estate.