Friday, 24 February 2012

week included bookkeeping, management accounts, first aid training, Pathfinder club meeting and 'hands on' marketing support

Tuesday, 21 February 2012

So does a deal with a supplier like Groupon work for you?

Well the answer is very definite. It depends!!! Yes such a promotion can drive new customers to your door, it can create a greater awareness of your business, it can move dead stock, it can help you build greater relationships or the offer can be upsold with further sales, but at what price? We will all have read the horror stories from some businesses not putting a maximum number on their offer. Yes perhaps the business owner should know their own capacity etc, but surely the suppliers of these group buying offers have a responsibility?You should also take care what impact the offer has on your pricing short term and then the long term expectations of your customer. A1 supports one client who now receives a number of calls per week asking when they are making their next offer, having only undertaken the initial promotion as a loss leader and a test. There is also the customer perception that if you offered it for one price then, why can't you offer that price now or what profit are you making from my purchase. From a straight forward financial aspect, then the deal offered is unlikely to be profitable, but may generate cash for the business. You also have to be careful that your offer may attract the wrong type of customer for your business.

Sunday, 12 February 2012

Tax rebates looking phishy

HM Revenue & Customs (HMRC) is warning taxpayers not to fall victim to ‘phishing’ emails sent out by fraudsters. The email tells the recipient they are due a tax rebate, and provides a link to a clone of HMRC’s website where the recipient is asked to give their credit card or bank details. Fraudsters then try to take money from the account using the details provided. Victims risk having their bank accounts emptied and their personal details sold on to other organised criminal gangs.HMRC strongly advises customers to:

• Check the advice published at www.hmrc.gov.uk/security/index.htm to see if the email you have received is listed
• Forward suspicious emails to HMRC at phishing@hmrc.gsi.gov.uk and then delete it from your computer/mail account
• Do not click on websites, links contained in suspicious emails or open attachments
• Follow advice from www.getsafeonline.co.uk

If you have reason to believe that you have been the victim of an email scam, report the matter to your bank/card issuer as soon as possible. If in doubt please check with HMRC at http://www.hmrc.gov.uk/security/fraud-attempts.htm

Friday, 10 February 2012

week included Marketing support, Pathfinder club in Oxfordshire, bookkeeping and some great goal setting

What is your Motivation?

Why do people start their own business and what motivates them?There are a number of personal reasons why people start their own business. Some see an opportunity, some suffer a personal situation such as redundancy or unemployment, whilst others have a family history of self employment or consider it as a way of earning their living. Thinking about your motivations can help you think about the goals you may set yourself and provides a measurement for success as defined by you and not as defined by others looking at your business externally.Success means different things to different people.You need to define what success means for you and this will certainly help you to find the ways to achieve it. If you do not know what you are aiming for it is unlikely you will ever achieve it. Understanding your motivations will help you identify the real purpose of your business and its aims and objectives.So for example, if it is a bigger house for your growing family, then how will the business generate the cash for this? Motivations such as “I simply do not want to work for someone else anymore” is not strong enough on its own.You should also consider planning your exit from day one. You need to have a vision of your exit from the business, so that you get the timing right for you. Too often business owners say my business is my retirement nest egg, but in reality when they come to retire it may not be the right time to sell or the value may not be as expected.So consider the need to groom successors and how to exit at your chosen time, not when other pressures may dictate. Then plan your business to build towards that exit plan. So if you want to sell for a price of £250,000 in 25 years time, what do you have to achieve in the meantime to get there?Possible exit options include: your family succession, selling the business, flotation of the business, a merger or simply closing down the business.

Sunday, 5 February 2012

Is Vinnie fighting the good fight?

The British Heart Foundation launched a new campaign promoting giving CPR Basic Life Support to Cardiac Arrest Victims. Their new advert shows Hollywood hard man Vinnie Jones giving only chest compression CPR to the rhythm of the Bee Gees classic “Stayin Alive”. The advert is specifically targeted at untrained members of the public to raise awareness that any CPR is better than no CPR, so even an untrained bystander can assist...that's who the advert is targeted at right ? But, now it's raising questions? We have had some enquiries asking whether there have been changes to first aid procedures as a result of seeing the new advert. The answer is no. Their current training protocol stands. If you have been formally trained you should continue to combine rescue breathing and chest compressions. Of course, if for any reason you feel unable to give the rescue breaths or forget what to do, then chest compressions alone can still help the victim until medical professionals arrive.
week included bookkeeping, new client start up support, meeting of the Institute of Certified Bookkeepers, Business Builder Forum