Category Archives: General Business

General Business

SaaS Business Solutions

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Software as a Service (SaaS) Business Solutions

Most business owners, while being concerned about the economic recession and how it will impact on their business, are also quite optimistic about the future and Australia’s ability to weather the economic storm.  As a nation we must continue to have economic growth in the market place and where possible support small to medium enterprise (SME) businesses in their attempt to continue to grow and increase sales demand. It was not that long ago that we were in a state of almost full employment and as a consequence the business community looked towards online software as a service (now known as SaaS) to deliver solutions to a growing economy. Now, whilst the economy has somewhat slowed, it seems that the interest in SaaS has not and the requirement to invest in SaaS is even more important than ever before.

Gone are the days where websites were simply online brochures and, as a business, you needed to budget to build a fresh website every 3 to 5 years. The two major and obvious advantages of new and emerging technologies in online development is the sustainability of the technology and the ability to build on a framework over a longer term of your business. This means that your website can now grow as your business does and have a much longer life cycle online. Applications can now be added that develop as your business does, making your online operation more flexible than ever before. It’s now cheaper to develop these applications and you can put in place initiatives that are low management, in some cases completely automated, and high in return on investment.

But the real savings can be felt on the bottom line of your business as you negate the need to operate, maintain and pay an IT professional to manage your in house server. Applications can be hosted online in a secure server environment that can save you big dollars over the term of the financial year. It can be, in some instances, a case of set and forget. When applications need to be upgraded or new applications need to be created, they can be hosted and tested in a non-live environment, allowing your team full access before the application goes live. When testing is complete the application can be up and running the next day. There is simply no down time as your business continues to work 24 hours a day, seven days a week, taking orders and earning you money while you sleep.

Off the shelf items such as Customer Relationship Management (CRM) programs rarely suit each and every business model in the way that they are intended too. This is simply due to the fact that all businesses structures, personnel, marketing, internal processes and ideas are different. While there will always be some similarities they will always be far outweighed by the differences. With SaaS, you only pay for applications that your business needs. Applications can be fully customized and as flexible as your business needs them to be. This means you will never pay for applications that you will never use as you do with ‘off the shelf’ solutions.

Another fantastic advantage to using online platforms is that as a body corporate you negate the need for staff to have to come back into the office to complete lengthy paperwork orders and hold daily team sales meetings. The new online applications have on-the-road advantages for your sales team, again saving you time. Your team can have the ability to provide a quote then and there to the customer at the initial appointment, and enter the data once with the knowledge that the information is now in the office database, safe and secure. This is all possible when you have a well developed and secure SaaS application, a good laptop, an internet connection, a user name/password and good training. There are also many savings to be had in the office environment. For example, if all staff are using and working off the same application in your office, there is no longer the need to purchase and update several different product licenses at every single workstation every year. 

Making an investment in SaaS will not only result in you being able to automate the parts of your business model that you require, but you will ease the pressures on day to day client and general business management. As the economy bounces back and recovers from the current recessionary pressures, the value of your online SaaS applications will continue to grow and adapt to the new environment as your business does.  Protect yourself from future economic fluctuations and consider what SaaS applications can offer your business today, tomorrow and in 10 years time.  

 Author: Linda Ross

Business: Star 3 Media

Phone: 1300 100 333

Website: www.star3media.com.au

General Business

Starting a Small Business in Colorado

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The idea of starting their own small business is very exciting to some people, and some of them go forward with it. However, most new businesses fail. Largely for that reason, there are no State or Federal government grants for business start-ups.

However, there are many programs which offer a “guaranteed loan”, meaning that the bank applies to the government for a guarantee on your loan. There is also private financing. Most start-up financing comes from the new business owner, or his friends and family. When your business has a two- or three-year business history, then the government and banks are more likely to consider some type of loan.

Business Plan

The first thing required is a well-written business plan. The State of Colorado offers free counseling on this in its network of Small Business Development Centers. The Colorado Office of Economic Development and International Trade (OEDIT) offers an online Business Resource Guide, which offers guidance on writing a business plan and on other aspects of starting a business in Colorado. This is a good place to consult in the early stages of your business planning. Alternatively, you can consult an experienced business start-up law firm, who will know all the steps to take and have copies of all the required paperwork.

Business License

No general business license is required in Colorado, but a specific licence is required for each type of business, and these are issued by the State of Colorado. If you are starting a corporation, Limited Liability Company, Sole Proprietorship or General Partnership, you will need to register your trade name with the Colorado Secretary of State, and file all the required paperwork.

Business Name and Tax ID

The new business name must be registered with the Secretary of State also, although this will not establish your exclusive rights to it. You will first need to verify with the Secretary of State that it is not already in use. The State tax ID will be issued by the Colorado Department of Labor and Employment when you apply for it correctly.

Workers’ Compensation Insurance

You are required by the Colorado Division of Workers’ Compensation to provide this, and more details can be obtained from them. There is no State fund for it. It is available through various private insurance companies in Colorado and from Pinnacol Assurance, a non-profit insurance carrier. You would need to shop around for the best rates and service.

Unemployment Insurance Taxes

The beginning base tax rate for most employers is 0.017, plus a surtax which is computed annually. If your business is construction-related, it may be subject to a different tax base.

Sales Tax

Colorado’s sales tax rate is 2.9%. Counties, cities, and special districts also collect sales taxes. Your business’s exact sales tax rate will depend on its location. Colorado has 43 home rule cities that require separate business licensing and independently collect their portion of the tax on all sales made within their jurisdiction.

Some legal assistance

Requirements for starting your new business in Colorado are extensive and complex, and meeting them all without any assistance is time-consuming. You can obtain prompt and wise legal help from highly experienced attorneys, however, and this will enable you to focus on the more enjoyable aspects of your new business.

General Business

Business Loans and Small Business Loans

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The word Loan does not need any specific definition nowadays. Yet the meaning of Business Loan at this juncture could well be defined as money borrowed for the specific period of time at the agreed rate of interest by the particular person who operates some business or projects to start some business. The terms of repayments of such loans are also required to be mutually agreed upon in the official format. The definition of Business Loan is very broad and there are different kinds of such loans available to the general business people across the world. The basic factor considered while approving such loans is the viability or the feasibility of the business and actual profitability involved in the business for which the loan is sought. If the applicant borrower is new at his business, or has little experience or skill about his projected business, this may force the lender to think thoroughly before extending any lending or business loans.

It is therefore rather advisable for such new business persons to establish enough business creditability in the market and then approach for any business loans. Business credit may definitely help him getting business loans to great extent. Establishing business credit could easily be done by:

• Initiating or opting for the business credit card account and settle it in full from time to time creating good records

• Procure all the equipments and required supplies mainly from the companies that would report good and favorable standing to the business credit bureaus

• Have really good business plan and poise genuine earning potentials, letter of intent besides any types of customer contracts already laid out successfully

All such attempts could help strengthening the business person’s business credit records and ease the loan application sanctions without many hurdles. Most of time, the lenders or the financing institutions, demand extensive business plans be prepared. One should be prepared to spend a long time fulfilling the necessary certification paper work before applying for the business loan. The business loan is always permitted on the business status as well as based on the personal credit history of the applicant. Hence the business projection must satisfy the lending institution about the profitability and security of the amount to be lent, besides the borrower’s ability of timely repaying the borrowed amount. Different states have different policies for the business loans so it is rather advisable to evaluate the probabilities before applying. Even your local bankers may extend you the desired business loan as they do monitor your company’s growth, turnover and profitability. Try to utilize the most the of loan amount on the projected business to ultimately avoid unnecessary burden on your profitability.

There are different types of business loans available which include the options like secured loans against collateral, non-secured loans based exclusively on the credit worthiness of the applicant, as well as the government loans especially for the small business enterprises, women and minorities. The government loans are usually secured type of loans that are given to the business owner who can prove that the community in general will be benefited by the business project. In most of the government loans, the lending is based on the personal creditability of the applicant.

Some of the commonly and easily available business loans include:

• Loan for acquiring the already existing lucrative and prosperous business expansion

• Loans for Inventory

• Loans for Account Receivable

• The loans as working capital for converting the company’s assets into working capital

• For leasing of equipment

• Loans for the commercial properties

• Loans to finance warehouse facilities

• Loans for running international export – import business

• Loans for franchise
Business Loans

General Business

A Business Directory Can be Effective Marketing Tool to Reach to Prospects

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Getting listed in a reputed business directory, under a highly relevant classification, is one of the best marketing options for your business.

Paid advertisement solutions (pay per click, banner etc.) and organic search engine marketing is very important for a business to be successful over internet. It’s also important for a business to be listed in reputable business directories.

Though consumers search products or service on search engines, they esp. b2b buyers also use the business directory as a database to collect specific and detailed information of a business, compare products, analyze and evaluate product specifications and features.

Scope of a business directory: A general business directory list businesses from more than one industry. Every directory has its own object and scope. Below is given a general picture of sites that business directory can list:

Sites of manufacturer, distributor, marketer, sellers.
Sites of trade associations, educational institutions and training programs, business and economic news, events, etc.
Sites of service providers who provide business services like accounting, finance, human resources, management, marketing, etc.

Given below are some of the features a business directory offers that a business can benefit from-

Regular listing: Adding business is through comprehensive category structure is the main service a directory offers. Being listed a business can increase its online traffic. Major business directories can send very relevant traffic to a business.

Featured listing: Featured listing some directory also called it sponsored listing. If business is added as featured it is shown at the top of the category it is listed. The feature gives a listing opportunity to be noticed first when the category is visited. A sponsored listing will send more traffic than a basic listing.

Advertisement: Business directories also offer advertisement service like pay per click campaign, banner advertisement, news letter advertisement etc. Some directories also offer offline advertisement in their print news letter or magazine. A business can spread the word further taking advertisement service of business directories.

Market place: Many business directories also offer marketplace to buy or sell products or service. By taking part in the market place that a business directory offers a business can increase its sells.

Other features: Business directories also offer industry news, market research information, how to guide and other innovative services.

Indirect benefits a business directory can offer:

Most of the business directory offer search engine friendly listing. When a business website is added in a directory, it gets a link. The link from a business directory is one way and very much relevant. It is one of the editorial forms of link that a site can have. This type of editorial link from authority business directory helps to improve search engine ranking that will result in more traffic from search engines.

A business must consider a business directory important marketing tool to promote a business over internet along with its other online marketing and promotion campaign.

General Business

Power of a Business Incubator

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Business incubators are programs designed to accelerate the success of an individual who is starting a new company through an array of business support resources and services. It allows for the development of the individual or team to grow and use their skills in a nurturing and supportive environment where their is constant feedback. In most cases there is a team of experts, mentors or masterminds that are helping the new incubator business through sharing their experiences, network of contacts and leadership. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term: Historically, 87% of incubator graduates stay in business.

Incubators differ from research and technology parks in their dedication to start-up and early-stage companies. Research and technology parks, on the other hand, tend to be large-scale projects that house everything from corporate, government or university labs to very small companies. Most research and technology parks do not offer business assistance services, which are the hallmark of a business incubation program. However, many research and technology parks house incubation programs.

Incubators also differ from the U.S. Small Business Administration’s Small Business Development Centers (and similar business support programs) in that they serve only selected clients. SBDCs are required by law to offer general business assistance to any company that contacts them for help. In addition, SBDCs do not target start-up and early-stage companies; they work with any small business at any stage of development. Many business incubation programs partner with their local SBDC to create a “one-stop shop” for entrepreneurial support.

According to Linda Knopp, 2006 State of the Business Incubation Industry, in 2005 alone, North American incubation programs assisted more than 27,000 companies that provided employment for more than 100,000 workers and generated annual revenues of $17 billion.

Cash Flow Potentials is bringing incubators into the home based personal franchise business sector. Our ideas of business incubators are organizations that support the entrepreneurial process through the home, using personal franchises as a low cost of entry for the beginner, helping to increase survival rates for the individual. They have been used in high tech and universities for years! We bring entrepreneurs and people interested in a home based business together into this home-based incubators model where they are offered a focused menu of assistive resources, services and a team of supporting individuals.

Resources and services include such elements as:

How to use your home’s physical space for offices, meeting space and inventory.

Management coaching

Correct entity structure

How to evaluate an opportunity

Help in preparing an effective business plan

Administrative services support

Technical support in setting up a business from home

Business networking

 

We are seeing a rapid increase in incubation activity! This can be attributed to a number of factors. Business incubation has been identified as a means of meeting a variety of economic and socio-economic policy needs, which may include:

Employment and wealth creation;

Transfer of technology;

Promoting innovation and a new concepts

 

The strategies we use in the Personal Franchise sector that we have used in high technology start ups are:

Don’t do it alone – The Power of Three

Super Asseting Your Home

Promoting your business through new concepts

 

Join the Entrepreneurship revolution, the practice of starting new organizations or revitalizing mature organizations, particularly new businesses, generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail unless you surround yourself with people who have done what you have chosen to do. Cash Flow Potentials has made that easy by showing you the process step by step.

 

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