Category: General Article

5 Ways To Make Your Small Business Run More Efficiently

5 Ways To Make Your Small Business Run More Efficiently

Every small business wants to have an advantage over their competitor; after all even one small advantage can make a big difference to improving your market share.

Efficiency is one of the key areas looked at to create that advantage. But how can business owners improve their businesses efficiency?

Converting to cloud-based computing is one way, says QBO Hero is a converter of QuickBooks ™ from desktop to online says on their website.

Other Ways To Improve Efficiency

  • Minimize Travel Time

While a certain amount of travel time is needed with any business, a lot is time-wasted. Cut down on a with some different technologies. For example, instead of spending time driving across town for a meeting you could instead phone or or use some form of communication software such as videoconferencing or polyphone..

  • Focus On Core Activities

Many business owners spread themselves too thin when trying to address everything in the business.

Outsource many of the non-essential parts of your business so that you have the time to focus on what’s most important. The likes of cloud computing and other technology can help to ensure that even outsourced workers will be able to work relatively easy alongside your business.

  • Automate Your Process

.Automating many processes–such as using a preloaded tablet that captures customer information and then syncing it to a QuickBooks system–will save you time, making you become more efficient freeing you up to focus on other aspects of the business.

This will have a significant impact on your efficiency as you’ll be able to get some tasks done simultaneously without any errors. This will also help you when it comes to focusing on core activities as it will provide you with the time needed to focus on them.

  • Address and Correct bottlenecks

That’s when a process in the entire operations chain doesn’t work as well as it should. An example would be a delayed approval process or even irregular and inaccurate communications.

A  bottleneck develops stalls in production and  supply overstock. It also is responsible for creating unhappy customers, which possibly result in a loss of business, and lowering  employee morale–which of course lowers productivity.

Because it’s such a threat to productivity and efficiency; this is why it’s so important to address them as soon as they become a problem.

  • Have A Long Term Technology Plan

Cloud computing and other technology can be a significant benefit to the small business. Since many startups may not be able to afford much of the technology needed to automate their processes, systems such as QBO Hero and Quickbooks can help.  QBO Hero has developed a White Paper explaining, in great detail, the importance of using cloud-computing in business. Request a FREE download here.

Often Overlooked Tax Deductions That Could Save You Money

Often Overlooked Tax Deductions That Could Save You Money

There are a number of deductions that many people miss when they gather their receipts together to tackle tax preparation. Whether doing it yourself or hiring a professional for your personal finance be sure that the deductions listed below from Taxfyle are taken into consideration.

  • State Sales Tax

State and local amounts due are deductible from your tax due. The IRS has tables for individuals to deduct the estimated sales taxes they paid based upon income levels, taking into account the statistical amount that was paid for common usage.

These rates do not include purchases of luxury or large purchases. If you bought a new car or boat, new major appliances such as a washer or dryer, a new spa or made any other major purchases the sales tax for these purchases are not calculated in the formulas and may be added to the amount in the charts.

  • Out Of Pocket Charitable Contributions

Did you know you may deduct 14¢ per mile for using your car when used for the benefit of a qualified charitable contribution? Just keep accurate records.

Food you donate to a soup kitchen or food pantry may be deductible if the organization is IRS qualified. This includes food you may purchase and prepare for such organizations. Even the stamps and supplies you purchase to support your local school’s fundraising promotions are deductible.

  • Reinvested dividends

While not technically a deduction, reinvested dividends in your mutual funds and investments change your cost basis and reduce any amounts reported as income, thus reducing tax debt for your personal finance.

Consult your tax professional or investment adviser to accurately report these savings, reducing future capital gains, thereby reducing tax debt.

  • Child And Dependent Care Tax Credit

A tax credit is better than a tax deduction as it reduces amounts owed dollar for dollar rather than the estimated 20% savings of a deduction.

The government has tables to help you determine the amount of credit you may receive. Even if you have a tax-favored reimbursement account through work, any amounts over $5,000, up to $6,000, that are not reimbursed may be declared by you to gain a tax credit.

  • Prior Year State Taxes Paid

If you had a tax liability the previous year you filed your return that amount may be included on your current year return under state and local taxes. This deduction may be up to $10,000. Don’t forget this often overlooked tax deduction benefit.

Taxfyle is a tax preparation resource you may want to refer to for help in preparing your tax returns this year. They seek to provide you all the deductions you are entitled to when filing your current tax returns.

Secure your Future Career in a Growing Industry

Secure your Future Career in a Growing Industry

South Africa’s private security industry is one of the largest globally and is continually growing. The majority of places you visit, be it a shopping centre, a private residence, or a restaurant,will all have some level of security system in place, mostly from security service providers. This high demand for security services introduces a huge gap whereby young jobseekers can secure their future career by moving into a growing industry with an abundance of job opportunities. By specialising in the field of VIP protection, not only will you be securing your place in the industry, but you will also be opening yourself to many divisions which require the specialist services acquired through VIP bodyguard training.

In-House Corporate Security

Large corporations often have their own in-house security teams and are therefore continuously on the lookout for young people who have gone through VIP security training. They want to hire people with particular skillsets to provide their enterprise and senior management teams with a high level of executive security services. Go for VIP protection training to find a corporate security job in South Africa to begin your long-term career in the industry.

Government Close Protection Teams

The government and local municipalities provide young jobseekers with multiple opportunities within their security teams. Proving that you have the skillsets they require with VIP bodyguard training, you can apply for jobs in the government to provide ministers and members of parliament with expert close protection services.

Cash-in-Transit Security

Cash-in-transit is another huge industry in South Africa, and one of its most important element is highly-trained security personnel. To apply for a protection and transport job in the massive cash-in-transit industry, you will need to have completed top VIP security training in order to be considered as a part of a cash-in-transit security team.

Elite Bodyguard Protection Services

Another opportunity available to people who have completed VIP bodyguard training is working as an elite bodyguard for important people who need a more personal security solution. VIP bodyguard training will help individuals to gain the skills and knowledge they need to provide VIPs with a professional close protection service that is performed discreetly, while giving the client full peace of mind.

For specialist VIP protection training in South Africa, contact Global Bodyguard Solutions.Its intensive close protection course awards graduates with the skills and expertise needed to enter the security and bodyguarding industry.

How a technology degree can give you a head start in business

How a technology degree can give you a head start in business

 

The words “technology” and “business” may not appear at first glance to go hand in hand, and it’s certainly true to say that some businesses are pretty outdated when it comes to computer use! However, there’s actually a substantial crossover between the skills learnt on a technology degree and the skills required to be successful in business. Computer science, for example, relies on strong mathematical ability – which is invaluable in the figures-focused business contexts of the modern age.

And that’s before even looking at technology as a business. This industry has been worth around 5{6689a152b9279bcdd26c91e939e58c0ecc437ab2764b593dc0336303a222505a} of US GDP in recent years – and this means that there are plenty of business opportunities available for those who want to use their direct tech skills rather than just their transferable ones. From software design to search engine optimization, there’s a whole world of tech careers available. Here, then, is just a selection of the options on offer.

Transferable skills 

Before plunging headfirst into the technology sector, it’s worth considering whether or not your skills could actually be applied to other niches. Take a networking degree: studying for this sort of qualification with an IT coursework component can give you the skills needed to take apart a network and repackage it in an optimized way, but it can also help you to think logically and solve problems. This is a handy skill for all kinds of roles across many different sectors, including business development and administration.

Software development 

It’s certainly true to say, though, that much of the focus for tech graduates tends to be on how they can directly apply their new skills in tech-related businesses. One route that some tech graduates go down in order to do this is software development. For many computer science graduates, this means heading to a start-up in Silicon Valley or elsewhere. The entire business model of the firms here is technological in nature, and software (or some kind of software-powered experience, such as a social media network) is usually their main product. If you opt for this route, then you could find yourself writing or editing the actual code – or perhaps working with the product development team to locate opportunities for the product to change and evolve.

However, if the start-up world doesn’t appeal for whatever reason, then there’s still scope to use your coding or computer science knowledge in the wider business world. Take insurance: companies in this sector rely on software to do everything from automated underwriting to client information management, and if you can come along and use your skills to make these systems smarter and cheaper, then you’re going to be in demand.

Digital marketing 

Some may believe that technology is restricted to fiddling around with pieces of hardware or coding software in a darkened room all night long. While this does happen, the technology sector isn’t just about coding languages and powerful equations. It’s also about applying digital principles to the pre-tech landscape, and as a result, professionals in fields such as digital marketing can benefit from studying it at degree level. While this isn’t the sort of career most associated with tech, it’s definitely one that goes hand in hand with a technological education.

Take, for example, search engine optimization – or SEO. This industry requires knowledge of how Google’s back-end software operates, but many who want to enter digital marketing are scared off because of words such as “algorithm”. Successful digital marketing professionals, however, know that they need to develop an understanding of this sort of phenomenon – otherwise they can’t harness it for their clients’ needs. If you already have that understanding of technology in place thanks to a computer science degree or similar, then you can be streets ahead in a field such as digital marketing without even trying.

If you’ve just graduated with a degree in a technology-related subject, then you’ve got a lot to look forward to. After all, the salaries in this career are usually quite lucrative – and you’ll certainly have plenty of cutting-edge and newsy conversation material whenever someone asks you what you do! However, your most pressing decision is likely to be which career path to take. You could, for example, leave technology altogether and use your quantitative skills in finance or a similar industry. Or you could go into the tech sector, and work in software development or a related field. In truth, your options are completely open – so you’ll be able to find a business niche that suits you.

Six Stages Of Developing A Business Plan

Six Stages Of Developing A Business Plan

A business plan is a document that explains your business and how to make your business a success. Writing out a good business plan will never waste your time. Conversely, there are many benefits that you will get from a written business plan.

 

Writing a business plan can be tiring. However, this article will provide tips for you to start writing easily. That way, you are expected to continue writing and developing it as you see fit.

What are the benefits you get from a business plan?

 

Help you work smarter in considering your business details during the concept-building phase. Business plans are useful for those who are just starting a start-up, as well as for those of you who have plans to expand the business currently owned.

As a tool in sharpening the direction of your business goals and how to achieve them. In addition, the business plan also serves as a basic indicator for evaluating the progress of your business.

Anticipate the challenge and minimize the risk of failure that you will face in running your business in the future.

Save time and make your investment efficient in achieving success.

It functions as a resume when you try to get an injectable funding from the outside. Banks and investors need fact-based data that is believed to assist in their decision-making process. Having a written business plan is needed not only for the benefit of creditors and investors but also for you in order to minimize the risk of an investment failure.

As one of the management tools for your company. Running a business is a big effort that involves teamwork. It’s easy for you and your team to lose focus and unwittingly allows you to pay attention to things that do not contribute to your desired goals.

A good business plan reminds you and the team remains focused on the goals and what you need to do to achieve those goals.

A good business plan will provide the basic structure that is directed in you directing the company’s daily operations with your team so that it is not only focused but also goes in harmony in achieving targets and dealing with dynamic situations in your business environment and market situation.

 

6 stages in the process of writing a business plan.

 

Writing a business plan document is not just sitting down and then writing.

There are several steps that need to be passed, namely:

 

  1. Preparation Stages

 

This stage is the process of self-evaluation and your business idea. At this stage, you think of all the possibilities that make your business successful or not. Building a business means you need several skills such as managerial, market recognition, specific business-specific techniques/ competencies/finances, long-term vision and vision to make your business grow and succeed.

 

The preparation stage is the stage to fix your concept of business.

Some questions you can ask about your business are:

Is your idea achievable?

Is there a need for services/products that you will offer in the community?

Who are companies or entrepreneurs already in the same field, does the market make it possible to make your business grow?

What products/services will you offer?

What skills are needed to run your idea?

What is unique about your business that can be provided in the market?

How much is your financial capacity to start a business?

How do you protect your idea?

 

Some questions related to your self-analysis:

Why do you want to do business?

What is your business purpose and what does it relate to your personal goals?

What are your skills?

How much revenue do you want to earn from your business?

What are the advantages and disadvantages of starting your own business?

  1. Writing Process

After going through the preparation stage, you already have a variety of basic materials about business ideas that are ready for you to pour into a business plan format.

 

When writing business plans, there are a few things to note, such as:

Compact writing will make it easier for readers to understand the model you offer. It is important to show early how your efforts are beneficial and profitable. Use simple language.

Write down the specific thing. Your business plan document should be able to show you clearly and in detail how you are doing your business to achieve the expected goals.

Show how you understand the market: who your target customers are, how you communicate with them, who other companies are already selling similar products/services, and who your potential business partners are.

It is important to show how you understand financial management. Show how you make money and make a profit. The benefits you gain will enable you to maintain the quality of your service/product business and also enable your business to have healthy economic growth, and benefit many people.

Do not forget the look of a professional business plan design, especially if you need a cash injection from outside. Draw a design that represents the character of your business; giving the impression of interesting, easy to read, and clear the target and its purpose.

The format of a business plan varies depending on who needs it. Common business plan formats consist of:

Front cover

Executive Summary

Company profile

Market Research

Products / Services

Marketing and Sales

Financial Projection

Attachment

  1. Phase of Study

 

At this stage, you need to make time to review what has been planned and written down. Business planning is an ongoing activity that goes along with the changes and growth of your business and also takes into consideration the market situation of your industry. Repeated reviews will help you minimize errors and become one of your compasses in response to a dynamic business world.

  1. Spreading Stage

 

Business plan documents are a blueprint of how your business will run and where your business’s future goals will be. Therefore, treat your business plan as your intellectual property. In an effort to maintain fair business competition, it is understandable and advisable for you to be more selective to whom you show business plan documents. Sometimes it is necessary to avoid your competitors looking at your business plan. In connection with the deployment stage of business plan documents, several ways you need to consider are:

What are the benefits of distributing your business plan documents to others?

Make a written statement (written in the document and also by email) stating that the document cannot be circulated to a second party, without your permission.

The document you circulate should not contain in detail information about your business unless there is a partnership contract that you have mutually agreed to.

If your business is something innovative, you can take further action by registering your business as an official right of your intellectual property.

  1. Technical Assistance Phase

 

Having a business idea and trying to draw up a business plan is the first step towards realizing your business. But besides the spirit, you also need knowledge about the industry business you are interested in. You also need other skills to realize your business plan, including the skill of developing a business plan.

 

Right now the literature reference on business plan writing tips can be easily found by searching on the internet search engine. In addition to searching for internet pages, it’s a good idea to sharpen your knowledge by attending seminars or workshops, and or you ask for consulting services from a competent mentor or business counselor.

 

Examples of other help you can get through consulting services that have expertise in writing business plans. This consulting service will bring in a team of consultants to listen, ask, and then write your idea into a business plan document. If this is the way you are going, then your role is to review the business plan until you understand and believe that the business plan is in accordance with your wishes. Next get ready to run your business plan with confidence.

  1. Business Plan Compilation Steps Using Templates

You can now easily access various business plan template formats across multiple pages. Here are some tips before you choose to use an appropriate template. Do previous research and choose a template that suits your situation For whom this document is addressed Writing does not necessarily need to be followed in sequence as it is written in the template; You can start wherever you can and be relevant to your business Find help opinions or even edits for writing when you feel unsatisfied with your business plan paper writing Make sure you clearly write down the estimated or actual figures Write a summary at the end of the writing Professional front cover view Get used to doing repetitive review.

 

Hopefully, this article makes you more spirit to realize your dreams.