Take the positives … and run with it!

Posted on April 25, 2013 by admin


There is no better time to start a new business venture on the back of the best news since the stormy economic crisis kicked in during 2008, the UK has defied its critics and managed to step side a triple-dip recession.

So with the eyes of the world firmly looking at the UK, it truly displays that Britain really is ‘Open for business’, a claim that David Cameron has conveyed for some time, only now he has the statistics to back it up.

It’s no surprise that working conditions are tough, many entrepreneurs continually remark how many hours they need to work and that competition, pricing, staffing and increased overhead costs are constant worries. Putting the negatives to one side, as business is always difficult, the latest report shows that the economy avoided two consecutive quarters of contraction – the definition of a recession and it grew by 0.3% in the first three months of the year. While other economies such as Germany and the US have recovered and since lost ground, George Osborne believes the measures he has learnt from these countries and put in to practise means the UK shouldn’t go the same way.

Globally where the East is reducing their growth forecasts, the world stage will see that ‘Rule Britannia’ exists once again and the UK being a reputable place to do business, ironing out the balance between the East and the West.

The Deputy Prime Minister Nick Clegg spoke about the report on LBC 97.3 radio: “That’s a better number than I think many people had been anticipating, but it’s one number for one quarter.

“We haven’t triple-dipped, so that’s obviously a welcome thing, but I don’t want anyone to think that somehow we are out of the woods yet.

“We have still got a lot of work to do. The healing of the British economy is taking longer than we had anticipated and we will continue to work hard to make sure the country and the economy grow from strength to strength.”

Wealthier individuals of the East revere British business processes and quality products, services and brands while their own are sometimes sub-standard.

While on home turf there never was a better time to bring a great practical solution product to the market, a tech product, luxury items etc as well as a quality service that is helpful to many people for example, domestic financial services, stress relieving consulting etc along with great opportunities for investment and gaining partners.

Look for the niches and gaps in the market that the UK has to offer and maybe this is the answer to a new and exciting entrepreneurial venture. Take the positives … and run with it!

Posted in Entrepreneurship, Inspiration, News | Tagged , , , | Comments Off

Top 100 Entrepreneur blogs To Follow

Posted on April 19, 2013 by admin

Top 100 Entrepreneur blogs to follow

An infographic by the team at CouponAudit

.

Posted in About Dream Idea, Guest blog | Tagged , , , , | Comments Off

Getting and remaining Linked In

Posted on April 17, 2013 by admin

LinkedIn, the online business social network, launched in 2003 and now just ten years later has over 200 million registered users globally. The question is, how should you be using this growing business portal to make the most of your contacts and create new business opportunities?

Personal Profile
For starters you need to make sure that people can find you. Create your profile, making sure that you are as thorough as possible, including past and most importantly present work, your professional summary and useful links for potential clients. Remember, unlike facebook, LinkedIn is a purely professional networking site so make sure that your profile is just that –purely professional.

Connect with people
Now that your profile has been created you are ready to get connected. LinkedIn is all about connections. Connect with as many clients and associates as possible, both past and present and maintain your working relationships with these people by sending personalised messages and making business recommendations (which will often be reciprocated). It is important to have a solid 1st degree foundation of contacts upon which to build 2nd degree connections and future clients. When you feel you have built up a really good rapport, or you have already met, suggest a personal face-to-face meeting.

2nd Degree Connections
As a business person on the hunt for new business and business partners, one of the most useful aspects of LinkedIn is the ‘2nd degree connection’. LinkedIn allows you to browse the connections of anyone you are already connected to. If you see someone who interests you, or possible affiliation opportunity, LinkedIn then enables you ‘ask for an introduction’ from your connection. Never be afraid to ask for an introduction, you never know where a conversation may lead.

Groups
Use the LinkedIn search function to find relevant groups to join. Joining groups can be a good way of finding out information useful to your business, meeting new contacts and raising your profile through the use of ‘discussions’. You can start discussions to inform group members of relevant news or business updates and by participating in others’ discussions you can show off your expertise in a particular area, so keep posting so that your connections become familiar with you and your specialities.

Get Recommended
Yet another super feature of LinkedIn is the recommendations function. Strong recommendations or testimonials show that you are respected and valued within your area; these are particularly useful if you are looking for new clients or a job. A glowing recommendation from a previous client, associate or employer speaks volumes!

Research, Research, Research
If you have an important meeting on the horizon, make sure that you investigate the person/company you will be meeting with on LinkedIn. Check personal profiles to look for mutual contacts and interests which could be good discussion points and if their business has a LinkedIn Group it may contain company updates, news and other useful information that proves your interest in working with them.

And Finally…
…When you get back to your desk from any networking meeting, after checking your answer phone and emails, go through the business cards that you accumulated. Log-On to LinkedIn and connect with anyone who may be a potential business lead. Do it now, not tomorrow, while you can still put a face to a name. Contact them and say how nice it was to meet them and keep connected as with regular traditional conversation.

Posted in Entrepreneurship, Inspiration, Tips | Tagged , , | Comments Off

Tips for Funding for Entrepreneurs from Angels Den

Posted on April 9, 2013 by admin

Angels Denconnects business owners that need funding with Angel Investors and provides a fast-track to business funding. It is one of the largest Global Angel Networks with over 4,500 Business Angels registered worldwide with links to thousands more.

Angels Den is passionate that every business looking to grow, in any part of the world, should have the opportunity to access funding and they have put together their top five tips on how to win angel finance for a business:

1. Financial forecasts – All financial information needs to be expertly produced, easily understood, realistic and justifiable. Mistakes here will cause a loss of credibility and interest.

2. The presentation – Those offering angel finance aren’t just investing in your business, they are also investing in you. You need to be passionate and likeable, as well as precise and persuasive. This is your opportunity to sell yourself and build up a rapport with the Angels.

3. Research, research, research – Find out all there is to know about your customers, competition and the potential of the business. You need to become an undisputed expert, and to be able to convey this knowledge to those around you.

4. Questions – A full and complete understanding of your business, its market, finances and strategy are essential as Angels will expect those presenting to them to be able to answer any question thrown at them.

5. Talk to people in the know – Getting as much impartial advice about your business or start up idea as possible can be invaluable when looking to start or expand your business. Angels Den provides free Business Funding Clinics which are a great opportunity for you to get free advice on your business and ask any questions you may have about the funding process.

It is important to ensure that as an entrepreneur or business owner, every aspect has been carefully thought about. Are your financial forecasts realistic? Do you know your market? Have you researched enough? What is your strategy for the future? With so many points to cover, it’s easy to miss something that may seem trivial but could be a deal breaker for a potential investor, so it’s worth getting as much impartial advice about your business plan or start up idea as possible.

Finally, once you feel you are ready to look for funding, don’t forget to make sure all your hard work pays off by delivering a show-stopping pitch or presentation and remember that Angel Investors aren’t just investing in your business, they are also investing in you, so if you know your stuff and show your passion for your business then you might be closer to securing investment than you think!

Posted in Guest blog | Tagged , , | Comments Off

So you want to start a new business?

Posted on April 3, 2013 by admin

Dream Idea offers a few hints, tips and advice to take the small steps towards giant leaps of entrepreneurial success.

•    Choose the right business for you – Sometimes it’s not cut and dry what businesses that you feel ready to do, you may have a specialist area but may not although you have a passion for business generally. A good way to decide on the business for you is to look at current trend opportunities , this is what 2013 has on its cards for great options.

•    Don’t wait, take action – like most things in life, there is never a good time to do anything, if you want it, cease it, your ambition will drive you the way forward. There is no point waiting until you get stale and uninterested, take the bull by the horns and get stuck in, what ever the economic weather!

•    Plan your business – the first step really is to get your plan etched out and stabilised so you know where you are at and where you are heading. Clear thinking comes from clear planning and although things may happen beyond your control, at least by looking back at your blueprint you can see the track back to the path that you envisage your business to be on.

•    Organisation – a key factor to running a successful business. Literally start with the basics, a diary and a back-up diary whether electronic, mobile or a papery book. Keep records of your meetings, receipts and dealings of all your business finances on a daily basis so you don’t lose sight of things and avoid unnecessary frustration. The more organised you are with this side of the business the easier it is to plot your progress and future growth as well as keeping the cost down on accountancy fees.

•    Cash is King! – Starting any kind of business always used to need money: from savings, relatives, angel investors, a bank loan, or of course, Dream Idea. Either way focus on the cash coming in once your business is up and running, the rest should take care of itself.

•    Tell your story, – present the right image, brand yourself well for brand recall and brand identity and keep marketing, too much marketing is never enough.

•    Get the right staff  align yourself with like-minded personalities, ensure they have the skill sets to do the job but the ambition, drive and passion to make your ideas and leadership shine. Encourage their thoughts that they can bring to the table, remember great minds think alike and so sometimes we don’t have exactly the same ideas, but often are singing from the same hymn sheet, so can bring a good melting pot of thoughts to plans and projects.

Posted in Tips | Tagged , , | Comments Off

What’s the Chance a Startup Business will Fail?

Posted on April 2, 2013 by admin

This blog comes from kind permission of Staff.com

Blame it on the media when people seem to think that their hot tech startup will make them a billionaire by their mid-20s.

Being a startup ourselves, we are very interested in the factors that contribute to a startup’s success, so we created this infographic on those factors, or chances that your startup will fail or succeed. This also includes some research on projections for the best sectors to start your new business.

 

Staff.com presents What’s the change a startup business will fail - Infographic

Staff.com – Connecting Great Companies with Global Talent

Posted in Guest blog, Inspiration | Comments Off

Let’s get face-to-face

Posted on March 13, 2013 by admin

Being at the hub of 21st century technology, it can be easy to hide behind a screen and stick to emailing, skyping, social network platforms or occasionally picking up the phone to clients, business partners and potential sales reps.

Let’s look at the evidence and what history dictates, remember that we have even more ways to get in front of people and gain great opportunities, don’t forget traditional methods and how much more you can get from meeting with people face-to-face.

•     Look into my eyes – so much can be gained by those who can look you straight into your eyes, it gives real insight into how what you are talking about makes sense to them, whether they are interested and if they give the all important buying signals.

•    Strictly confidential – A one-to-one conversation can provide more in-depth information that wouldn’t necessarily feel comfortable over the phone or in a short email. Asking intelligent leading questions in a relaxed atmosphere, possibly over a coffee, might get you the information that you need to prime a potential lead. Although neither of you have anything to hide, it’s easier to speak more freely knowing work colleagues or staff aren’t listening in. Also a surprising amount more can get discussed, often people feel a phone call needs to be hurried due to confines of the office, so puts element of time constraints on the back-foot and undisclosed information on the table.

•    Let’s talk about the weather – Many of us admit that the small talk is difficult with people we don’t know too well but it is a vital element to natural relationship building and puts all parties at ease. Going in head-on to sell, sell, sell is off-putting so take a bit of time and effort to get to know this new person. If you can learn and share more about each other a true connection can be formed, with the knowledge of what makes this person tick could provide useful pointers to how you might be able to solve a particular problem of theirs quickly and efficiently.

•    First impressions last – An old adage but a good one, you can make a far better impression with your appearance, your personality, your style and the all important smile factor when people can actually see you.

•    Body talk – Eye contact, hand movement and facial expressions often communicate far more than words alone, it also shows an outward confidence which transfers when done genuinely, making conversing so much freer. The ability to ‘read’ more about a person, through someone’s body language is invaluable as long as we meet people face-to-face.

•    Right place at the right time – It is also important to find out what types of people meet where regularly, meeting by chance or informally can always add brownie points to your chances of gaining access to the right people in an light-hearted atmosphere. Follow that by asking to visit a potential client or business partner in their office, this allows you to get a feel for their business and learn so much more about their company and how your product or service could work within it.

Not only is meeting people for the first time face-to-face important, regular ‘in person’ meetings are vital to build and develop positive business relationships and form a quality bond for future transactions and maybe possible less informal meet-ups.

Posted in Tips | Tagged , | Comments Off

UK Service Sector boost

Posted on March 6, 2013 by admin

If you have waiting for the tide to turn, seeing off the possibility off a triple-dip recession or have been indecisive about your business plans, then the news that the UK  Service sector is showing impressive growth, might give you the push you need  to strike while the iron is hot.

With energised enthusiasm and the right knowledge, diving into one of many industries could be the key to a fast growing start-up. These could include transport, storage and communication, financial intermediation, business services, personal services, computing and IT, and hotels and restaurants. About three-quarters of the UK economy is built on these industries and has seen very healthy improvements following the beginning of 2013, with The Markit/CIPS Purchasing Managers’ Index recording 51.5 in January and most recently rising to 51.8 in February.

This news comes in stark contrast to the Eurozone which continues to travel along stormy waters, proving that the UK is still a fantastic place to do business and a positive option to start a new business. On the back of this encouraging news the jobs market in the UK has continued to expand throughout the country meaning that the world stage, particularly the emerging markets like the East, eyes Britain as a good ally when doing business.

Posted in News | Tagged , , , , | Comments Off

Have you heard of RTI? by Andy Paterson

Posted on February 20, 2013 by admin

Whether you love HMRC or loathe them, you can’t argue with the taxman’s determined efforts to modernise their services. Last year HMRC moved all VAT filing online, and this year – in what has been described as ‘the biggest change to payroll since the introduction of PAYE in 1944’ – they are pushing forwards with the introduction of Real Time Information, or RTI.

In simple terms RTI means companies will have to file payroll, tax and National Insurance information about their employees every time they pay them, instead of once every tax year. Of course, in practical terms, the changes are far greater.

Old school accounting software providers, for whom the predictable cycle of the financial year is sacrosanct, have been thrown into turmoil by the concept of “real time” data, and many have had to abandon their current payroll packages are rebuild them from scratch, rather than just issue an update as they do when rates change.

For businesses this means an ordinarily routine software upgrade can become a potentially expensive purchase of a new suite, plus the cost of training bookkeeping and accounting staff on the new software.

Those who use outsourced bookkeeping services should see these costs mitigated somewhat as bookkeepers will be able to spread the cost across their client base – however a recent survey showed that a massive two thirds of accountancy firms would be hiking their rates to recoup the costs they will incur when RTI comes into force.

RTI is launching (with optional fanfare) in early April to coincide with the beginning of the new tax year. Although it promises to be burdensome in the short term, it’s not all bad news. Once the dust has settled employee payroll should be a more automated affair, and a few tax forms (P35s and P14s specifically) will be quietly retired.

It is vital your business is prepared for RTI, as non compliant businesses are in line for a slap on the wrist from HMRC (although actually monetary penalties have been delayed until 2014/15). It’s also important to remember that the introduction of this new scheme does not change reporting requirements for the 2012/13 tax year – all payroll information must still be filed, same as it has always been!

Andy Paterson
Sales Manager
——————————
Crunch Love Accounting

Posted in Guest blog | Comments Off

Get your networking tip top

Posted on February 19, 2013 by admin

Whether you’re launching a start-up or looking for new opportunities, networking events are an essential part of the game. Some social butterflies dive right into these events and come out with various great leads and a best buddy. But for others, these orchestrated events can be a totally draining, full of awkward moments and monotonous small talk.
Whether you’re a seasoned veteran or new to the networking scene, here are some ways to make the most of these events.

•    Don’t Appear Desperate
Neediness is a major turn-off. When your main purpose is getting something from the event, you send the message that you’re deprived of something (a job, customers, clients) and you’re looking to the person you’re meeting to save you. So no matter how badly you need a job or new client, you’ve got to set that aside and stay in the game when interacting with others.

•    Remind Yourself: You’re There to Give, Not Get
Don’t ser the stakes too high, you suck all the fun out of the event and put an inordinate amount of pressure on your shoulders.
Change your mindset. You’re not there to get. Instead, you’re there to contribute to the event, help others or just learn what other professionals are doing. This little change in thinking will boost your sense of purpose and self-worth and erase that overwhelming pressure. Before you know it, you’ll find yourself having a good time, developing strong relationships and attracting loads of referrals.

•    Connect with Everyone (and Never Look Over Anyone’s Shoulder)
Maybe your goal is to find a new job as a community manager, but you’re “stuck” talking to someone with less common interests than yours. Don’t write off the opportunity. I can’t tell you how many people have found a client or job through someone who knows someone who knows someone. What’s the lesson here? Appreciate each person you meet, don’t be dismissive, and never ever scan the room while talking to someone. You just never know where a conversation may take you.

•    Practice
Think of networking like any other professional skill. While others in the room may look like born networkers, they are likely just more experienced. It’s something you have to learn through trial and error. And the only way to improve is to just get out there and do it, or practice beforehand at home with a friend.

•    Have Sincere Conversations
Get your frequently asked questions clued up and be prepared to listen appropriately in order to react genuinely. There’s a lot of jargon out there, and these buzzwords block any kind of meaningful conversation or relationship. Yes, you should prepare and practice answers to expected questions like “So what do you do?” But these answers should be simple, natural and in plain English. Your goal is for anyone (not just those in your industry circle) to understand and connect with what you’re saying.
And if you find yourself stuck on the receiving end of a stuffy, jargon-filled elevator pitch, try to shift the dynamic with a simple question like “So what does that mean?” You’ll get into a more natural, and interesting, conversation.

•    Ask Open-Ended Questions
This is a great skill for anyone who can’t stand all the repetitive small talk associated with meeting people the first time. The goal here is to always ask people questions that can’t be answered with a simple yes or no. Pick questions that demand a real answer, like, “How has your industry changed in the past 10 years?” “What are your customers asking for the most?” and “Why do you think that is?”
As a general rule of thumb, “why” questions generate the most interesting answers and conversations and can take you down a realistic path that could give you enough information to prod for  alead.

•    Limit Your Drinking
You might think that a few stiff drinks will help you relax and mingle. There’s nothing wrong with a drink or two, but know your limit. When talking with potential employers, clients or referrals, you want to be as sharp, clear and on top of your game as possible, and alcohol doesn’t always help in these areas. Remember, you want to portray yourself as someone others want to work with, not necessarily drink with.

Posted in Entrepreneurship, Tips | Tagged , , , , | Comments Off