Seven Reasons Why Many Small Businesses Fail

Starting your own business can be an amazing adventure. But today more than ever you need to be aware of why so many small business start ups fail to prevent you from making the same mistakes.

It is an uncomfortable fact of business life that four out of five start-ups end in failure, this can be for a multitude of reasons; however, the underlying issues are surprisingly common.

Give your new business venture a fighting chance by taking care to avoid these fatal errors:

Reason 1 - Cash Will Always Be King:

When money is tight and business may not be as abundant as it once was, conserving your cash resources is critical. Keep an eye on expenditure and watch credit control carefully. Make sure money owing to you is paid promptly.

When I send out an estimate, I always have our terms stating 'All work MUST be paid on day of completion'. When we know we are about to finish a job, I give our invoice to the customer on that day. We don't allow 30 days credit. Thankfully, up to now, it has worked.

Reason 2- Location, Location, Location:

Location is critical to the success of your businesses survival. A decent location can cost more but it can make the difference between just getting by and turning a decent profit. Don't let a cheap lease tempt you into opening your doors in the wrong neighbourhood if your gut is telling you it's not right.

Things to consider when choosing a location:

• Where are your customers based?
• Traffic, accessibility, parking and lighting
• Location of competitors
• Condition and safety of building

Reason 3- Keep Purchase Prices Low:

You need to know how to get the least expensive price on everything you purchase. This can make a huge difference. Use the internet to check prices, and then negotiate prices down with suppliers. Do not just accept the first price they give you.

Reason 4 - Never Stand Still:

An old mentor of mine once told me - if you never change anything, everything will remain the same. It is business insanity to do the same thing this year as you did last year and expect a different result.
Successful businesses innovate and change all the time - those that don't are simply left behind.

Reason 5 - Don't Give Up Too Quickly:

Any new business will be lucky to break even in their first year. Many people new to business often assume that they are going to make a fortune within 12 months. In reality less than 80% of new start-ups make a profit in their first year. Do NOT give up too easily.

Reason 6 - You Need A Website:

Simply put, if you have a business today, you need a website. Period.

At the very least, every business should have a professional looking and well-designed website that enables users to easily find out about their business, their products and services? Later, additional ways to generate revenue on the website can be added; for example selling ad space on your website.

Remember, if you don't have a website, you' will probably be losing business to your competitors that do. Make sure that your website makes your business look good; -- you want to increase revenues, not decrease them.

Reason 7- You Need To Get Your Name Out There:

You need to advertise, customers can not walk through your front door if they don't know you're there. Learn how to cost-effectively advertise and promote your business through such tried-and-true methods as ads in local newspapers, Web sites, blogs, even by sponsoring a local little league team. The number of advertising and promotional ideas that exist is only limited by your own creativity.

By Mike Zane

Top 7 Tips - Volunteer Engagement

Tip 1 Attracting People to your Organisation

So many charities, so little time! Ensure that your charity is at the top of the list. Volunteers will tell their friends and contacts about their work with your charity. Help them to recruit new volunteers for you. Provide them with up-to-date information about the work of the charity.

Give them newsletters, flyers, promotional goodies and gifts that are useful. This will help spread the word about the charity and provide the volunteer with something tangible to help them tell the potential new recruits about the organisation.

Tip 2 Recruiting Volunteers

Preparation is key to the successful recruitment of volunteers. It is worth taking the time to draw up a brief outline of the role you want the volunteer to perform, the types of skills that will be required, the ideal number of hours to be worked and an overview of the environment the volunteer will be working in.

Consider how you will advertise the role (remember that volunteers currently working with you could be your best marketing channel, so make sure they are aware that you are recruiting!).

Other methods could include online recruitment via dedicated volunteering sites to appeal to those who regularly use the internet, adverts on internal notice boards or maybe as an advertorial in the local newspaper. Always remember to monitor your success rate with each method used.

Tip 3 Induction is Key

Your new volunteer has arrived and is eager to start putting energy into the role. People who volunteer are giving up their discretionary time and want to make a difference, feel valued and happy in the knowledge that they have done a great job.

A formal induction from day one of their time with you provides a welcome and introduction as well an understanding of the basic rules of the workplace.

Written policies and procedures demonstrate professionalism and an outline of how volunteers are expected to work within your organisation. Providing a formal induction programme for your volunteers will give them knowledge to start the role with confidence.

Tip 4 Train and Develop

Ensure that your volunteers continue to be trained and developed once the initial induction has been completed. Ongoing learning and development for your volunteers is vital to ensure that they carry out the duties they are required to undertake in a professional and knowledgeable manner.

It is an investment that will bring short and longer term rewards. Consider the different ways in which you provide learning for your volunteers. Make use of structured on-job training, coaching, mentoring and other skills development learning activities.

Always ensure that you keep records of the learning and training you provide for your volunteers. Remember to relate the new skills, knowledge and behaviour back into the work environment.

Tip 5 Leadership

How clear is your mission? What are your organisation's values? How does your leadership team communicate the strategy? Your volunteers need to be motivated by the cause and the work that you want them to do.

The engagement of your volunteers will be influenced by the degree to which the organsiation's core values are communicated, understood and demonstrated by your senior management.

The work of your volunteers should be directly linked to the organisation's overall strategic objectives and measured on a regular basis. Volunteers can then recognise how the work they do has a positive impact.

Tip 6 Innovate to Retain Your Volunteers

Your pool of volunteers come from a variety of backgrounds and experiences. Many will be in full time employment and have little spare time so you need to consider how to keep in touch with them, how to provide meaningful short term project work, how to make use of their skills from a distance.

Create oportunities that can be done online, or provide flexible hours or specific projects that can be managed around the volunteer's other commitments. Consider the impact of the rising retirement age and how this will affect the reducing volunteering hours available to you.

Tip 7 Communicate

How do you keep your volunteers informed and involved with the organisation's activities? What channels of two way communication do you use? Is it easy for volunteers to have their say? In order to encourage feedback, involvement and commitment, use as many different communication channels as you can.

As well as formal surveys, consider forums, focus groups and intranet-based options. Make use of the internet and social networking sites. Appeal to a wide audience and remember to keep up-to-date with the information being communicated.

By Jane Child

10 Tips to Avoid a Disaster in Buying a Wall Map

Buying a wall map that shows street-level detail can be one of the trickiest tasks a small business faces, especially if the buyer is geographically challenged.

For some businesses, a good local wall map may make the difference between a flat bottom line and one that bulges upward a little.

Few buyers know it, but the task of buying a map for the wall is loaded with possibilities of making a mistake that the purchaser later will regret. The job is not as simple as reaching for a can of beans on a shelf at your local supermarket.

Here are 10 tips to help the buyer avoid a disaster:

1. Know what job you want the map to do.

· Does it cover the territory you need covered?
· What features do you want the map to show?
· Do you want a pretty map or a useful map? Color? Black/white?
· What size do you seek? Will it fit your wall?
· Is the method of hanging important? (rails? rollers? eyelets? nothing?)
· Is lamination necessary, or would you accept paper if available? (Most maps for the wall are not available in paper, because the publisher can't make enough money to support its business by selling paper maps.)

2. Be willing to compromise.'

There is no such thing as a perfect map. Be aware that the business of publishing a map - any map - is extremely complex. Partly because of this, as an example, every map sold to businesses is out of date on the day it comes off the press. And the longer it sits unsold on a shelf, the less current its information is.

The key questions the buyer needs to ask: Does this map do the job for me? Or are there better alternatives?

3. Know your publisher.

Publishers come in all kinds of stripes. No two are alike. Each publisher has its own methods, its own goals, its own priorities. And different publishers focus on different markets, serving different clientele. Make sure the publisher you choose focuses on your needs as a customer.

Don't buy a map just because the publisher is a household name. That publisher may not serve the market you're in, and the map offered by that publisher likely won't serve your needs. Example: If you're not part of the market that includes tourists, you don't want to choose a street-level-detail product for your wall produced by a publisher whose primary market is tourists.

While you may want to avoid a publisher that is a household name, it's not wise to choose a publisher you've never heard of. Ask another small business that has bought a map for the wall. Would it buy another one from the publisher you're considering?

Where does the information on the map come from? A map publisher's standard answer is that it comes from local government sources. What that publisher doesn't want you to know is that it may be buying that information from a third party which may have gotten it from a local government source, maybe via the Internet.

Which is okay, if it's accurate information. But how can the buyer know for sure? Is the publisher telling the truth? Yes, and no. Unfortunately, the economics of map publishing are forcing the largest publishers to buy the information from third parties.

4. Buy directly from the publisher if possible, not from a distributor.

This may be more easily said than done, but here's why it's important: The publisher controls the quality of the product. The distributor makes sure it gets to a place where you can buy it, and most often the distributor is the end seller. The distributor has no control over quality. A distributor sells the products that are available. (Most maps available on the web are sold by distributors, not publishers.)

Like many industries, the map business is going through a period of consolidation and change. What was true as little as five years ago may not be true today. Regional publishers are vanishing like the 10-cent movie theater, so it may be hard to find one in your area.

But a regional publisher is much more likely to serve your street-level-detail needs than a national publisher, who is more likely, for example, to serve a different market. It makes sense that a publisher in Chicago who serves the national tourist market can't keep up with the street changes in your area - especially the streets that a local business needs.

Example: If a street is missing on a tourist's map, few tourists are likely to notice it. But the omission will stick out like a palm tree in Alaska to a local business -- and tell volumes to a potential buyer. Be aware that this difference affects cost, and thus price.

5. Don't buy sight unseen.

You don't buy shoes sight unseen. Why would you buy a map sight unseen? Like shoes, one size doesn't fit allBuying sight unseen is the biggest mistake a map buyer can make.

One change in the map industry has been that many regional map stores have closed, robbing the customer of the chance to see various map products on the wall. That's too bad, because the chances of making the wrong decision are greatly increased for the buyer.

In many cases, the choices for the buyer today are the web, the web or the web. You can buy a wall map on the web, but you have to be very careful. Know this: What a map website doesn't say may be more important to you than what it does say.

Beware the publisher or website that is unable - or unwilling - to show and tell. And - if the publisher does show its wares - it's likely to leave the prospective buyer feeling cheated in his quest for information that can be used for a purchase decision. Click away from the website that doesn't show you what you want to see.

6. Make sure the map shows information current enough to serve your needs.

A map may be considered up to date by one buyer, but the next buyer may have a far different opinion.
The currency test is this: Check an area you're familiar with -- make that two or three areas. Ifyou think the map is up to date, then it's up to date. The next buyer doesn't matter. Above all, be aware of this: If a publisher touts his map as being up to date, he may be just telling the buyer what he wants to hear.

7. Try to learn when the map was published, if that is important to you.

Resist the temptation to look at the date on the map (almost all maps show the 'date it was published').

This may surprise you: More often than not, the date on the map is meaningless.

Little known by most map buyers, here's what that date means: This is the publisher's edition for that year. The date on the map often has absolutely nothing to do with the up-to-dateness of the map's information.

8. Comparison shop - not only for price but also for quality.

The web is chock-full of publishers offering wall maps. Google wall maps and you'll find almost a hundred million pages containing that phrase. That makes comparison shopping mind-boggling. It's a maze. But it's research that every map buyer should do.

Remember this: The least expensive map may not be the best to fill your needs, and the most expensive may not be the best, either. Never forget the job you want your map to do.

9. Be prepared to weigh price vs. quality.

On this issue, you'll have to compromise something. Is price more important to you, or is quality more important to you?

Bottom line: Does the map do the job?

10. Take your time deciding. Don't make a snap decision.

If you decide at 9 a.m. that you need a map on the wall by 2 p.m., you're going to make a horrible mistake. Buying a map for the wall - one that does the job - just doesn't happen that fast.

Yes, buying a map for your wall is tricky business, and your business probably is tricky enough. What you don't need is more tricks. Like most other purchases, in buying a wall map you need to do your homework. Use these tips. Ask a lot of questions. If you don't like the answers, don't buy.

By Gene Ingle

Top Seven Tips on Finding a Supplier For Your Retail Business

Anyone running or planning to run a succesful and profitable business needs to have good suppliers. Everything you need to run your operation efficiently, from the till rolls for your cash machines to the goods you will sell, needs to be supplied by people who you can trust, provide a reliable service and charge a reasonable price which will not put a dent in your budget.

In order to help you find the right supplier for you, here are our Top Seven Tips

* Be sure of just what you need for your business. Identify the items you need for your company to run successfully. There is no sense in spending more cash than you really need to. So it is absolutely vital you only buy the kind of items needed for your retail business to run efficiently and successfully.

* Having identified what you need for your retail business to run successfully, you then need to do your homework to identify who your suppliers should be. Crucially they should be suppliers who you can trust and will not let you and your retail business down. Speak to other people you know in the retail business about who they might recommend as suppliers for your retail business. Also check on the internet to find about companies who could supply your business.

* After having picked likely suppliers for your retail business the next step is to contact them personally, either by visiting them or over the phone. If you are to enjoy success it is crucial that you check out how quickly they can supply you and the prices that will be charged. It is vital to the success of your business that you confirm the time it takes from order to delivery and price.

* Be prepared to haggle. Do not accept the first price you are quoted. If you are ordering in bulk and especially if you plan to order from the supplier on a regular basis then push for them to offer even further discounts.

* Don't be too proud to accept freebies. By doing this you will save yourself precious cash. They will leave more of your money in your pocket and put less of strain on your budget.

* Once your business is up and running it is good practice to keep faith with with a trusted supplier, even if another one can offer you cheaper goods and supplies. Other suppliers may be cheaper but they may not be as trustworthy. Using a good supplier could make all the difference between success and failure for your retail business.

* Should a previously trustworthy supplier let you down without good reason then be prepared to drop him. You can always find another good supplier and your profits will depend on regularly delivered supplies at an affordable price.

If you take the trouble to find a supplier who can be trusted, but who can supply his wares at a price your profit margin can stand, then you are on the road to success.

By Craig Ellyard

Increase Productivity With Morale - Top 7 Ways to Boost Morale For Free

1. Praise a Job well done.

As small business owners we pride ourselves on fixing problems and putting out fires left and right. Be as quick to notice a step in the right direction as you are a brewing problem -- whether someone doubles their productivity or it's a baby step toward your goal, celebrate it.

2. Ask Questions.

A staff meeting, a conference, or at the water cooler is a great opportunity to gain insight to what your people are thinking. If you don't know what their concerns are, you can't help them.

3. Get involved.

Sometimes the only motivation a person needs is an example of what a good job looks like. Show them.

4. Be Specific.

A team should be working towards the same goal or outcome. Does everyone know what that end result should look like?

5. What's in it for me?

If you are great at setting clear goals and expectations for your people, have you addresses their number one question - What's in it for me?

6. Explain why.

Always check to see if your people have the knowledge to complete a task, but if you find they have the skills just lack the enthusiasm, make sure to explain why it's important to the company then revert to point number 5.

7. Listen.

No, I mean really listen. If you take the time to have a genuine conversation with your people and actually listen to their answers (meaning don't look at your watch, cell phone, a person walking by, or think about the 30 other tasks you need to do) they will feel genuinely appreciated.

By Andrea Atkinson

How Do You Keep Your Employees Motivated?

Well motivated employees lead to high business productivity, minimal staff turnover and greater profitability for your business. However, how do you keep your employees motivated?

Motivating your employees is not just about paying a competitive salary or offering perks and bonuses. To ensure your employees are well motivated you need to consider all aspects of your business.

Here are some hints and tips to help you:

1. Make your employees feel valued. Thank them, give them praise, recognise them for their contribution to the business, encourage them to feel that their work makes a difference to the business and give feedback constructively.

2. Communicate with your employees in an open and honest way, including regular staff meetings in groups and on a one-to-one basis and staff updates on how the business is performing and management decisions that have been made.

3. Review performance on a regular basis through staff appraisals and individual update meetings, ensuring individual objectives are realistic and align with the overall business objectives. Ensure your approach is consistent and fair between employees.

4. Consult with your employees before making decisions that will affect them and encourage your employees to make suggestions for improvements in the business. Ensure you listen to your employees and acknowledge their opinions.

5. Develop trust and teamwork among your employees and encourage them to ask for help when problems arise.

6. Give your employees a reasonable amount of autonomy and control and try and ensure each employee has a variety of interesting and satisfying work.

7. Support your employees through times of change in the business, in achieving work/life balance and managing stress.

8. Provide employees with development and career opportunities, through training, work placements and encouragement.

9. Create an atmosphere where employees enjoy working alongside their colleagues, where there is time for humour and fun and take the time to be interested in their life outside work. Provide a good working environment, together with the right training and equipment to do the job.

10. Pay your employees a competitive salary and appropriate bonuses and perks.

By Liz Makin

Managing Across - 10 Points For Collaborative Success

Many people use a competitive mindset at work, focusing their interactions on WIIFM - "What's In It For Me". This approach can bring short-term success for the side with the sharpest mind and toughest resolve.

But when we approach work as a battle that has winners and losers, rather then as an opportunity to collaborate with others to build a bigger better joint solutions, the company suffers. This is a classic case of winning the battle but loosing the war.

The solution? Get rid of the competitive mindset and adopt a collaborative approach.

Here are ten steps that you can take to build effective collaborative relationships:

1. Plan Your Approach.

Before you meet with a potential collaborator gather as much information as possible to identify potential common goals and think through the benefits that achieving these goals could bring each side.

2. Don't assume that everyone sees things the same way you do.

People have different needs, styles, desires and goals. Before you can effectively collaborate with someone you need to understand them. People make decisions for their reasons not yours - so make sure you recognize what they value and know how they operate.

3. Think big and focus on enlarging the pie rather then dividing it up.

You will be able to achieve more by working together. Take on big and exciting goals that will inspire others to also join you and make a difference.

4. Be observant and listen.

One way to understand someone's goals and personal preferences is of course to ask directly; this only works if you listen very carefully to the answer. Listen for unspoken needs. Notice the topics that they get passionate about. Listen for the whole message. The better your understanding, the more flexibility and creativity you'll have as you work together.

5. Openly exchange information.

To understand the total opportunity, everyone needs to exchange information. People will not share much with someone who is holding back. Lead the way by sharing your perspective and asking others to do the same.

6. Build trusting relationships.

Collaboration is not an event. Collaboration is an ongoing investment in people. When you do decide to collaborate with someone on a common goal or task, make sure that you also invest time in building the relationship.

7. Clarify roles and responsibilities.

Once you have defined what you are going to do, you need to agree to a consistent understanding of how is it going to be done and who is going to do it. Be specific and clarify agreements at the end of your meetings.

8. Keep your commitments.

f you say you are going to do something - do it. Don't make commitments lightly. Failing to meet a commitment is inconsiderate of others and can kill trust.

9. Appreciate others.

Notice and acknowledge the contributions of others as you work together. Credit and recognition becomes a sticky issue when you work across organizational lines. Be aware that people are sensitive in this area and sincere recognition of the contributions of individuals and teams is always welcomed.

10. Watch out for individuals that just want to win.

Collaboration while powerful is not always the answer. Some peers may not want to or need to collaborate with you. In these situations you need to use a more measured approach.

By Doris Kovic

Top 10 Tips For Startup Businesses

1. Affordable office space

There are many affordable places to start a business. If you chose an up and coming place to base your business at then your overheads will be less. Many technology business for instance can work from anywhere because the majority of their services can be provided over the internet.

2. Gain expertise from experts

Business mentoring is absolutely key to the success of the entrepreneur. You don't know everything and so need experts around you to aid you. A common mistake that young businesses make is trying to do everything. They secret is to kind other people to compliment your own weaknesses.

3. Networking events

Network events allow you to find work and other businesses to compliment your work. Valuable leads can be found at both the free business networking events and the more specialized fee based business events.

4. Cashflow is key

You've heard about profitable businesses going under right. This is because they ran out of cash. They had got enough leads and business but could do the job because their cashflow can dry. This is because they didn't plan properly.

5. Planning

You've heard of a business plan. Well, you need one. The business plan isn't a static document either. It changes throughout a businesses life cycle. If you fail to plan you plan to fail.

6. Pricing

Your price must reflect your experience. As your experience grows so will your earnings. At first work may be scarce but try not to deviate from the specialization. It is ok to do the odd job which is not par of your specialization but stay focused on your business plan.

7. Marketing

You must get word out that your product or service exists. But more importantly you must use your available resources informing the right people that your product or service exists. This is where market research comes into it.

8. Sales

So you've started to get interest in your services but you're having difficulty closing that sale. Are you asking the right questions? Don't push too hard. Make friends with them. Ask them about there business. Find out what they want.

9. Quality

Do a good job and deliver your product to a high standard and your customers will refer their associates to you. Do a bad job of inferior quality and your ex-customers will tell their associates not to use you.

10. Get paid

If you don't get paid then your Cashflow will suffer (see 4), if should be part of your business plan (see 5) to maintain your cashflow. If you don't get paid then you will fail.

By Michael J Greenwood

Top 10 Best Reasons to Have a Mesh Back Office Chair

Unless you are aiming for a virtual office, the first thing you have to be sure of in making your office as comfortable as it should be is the office chair. This tool is relative to the interior design you have for your office.

When you have an offline business, you can't throw in a bubble chair graphic to a prospective investor; you have to give him a chair. You might even want to give him a La-Z-Boy if only to make sure that he is sitting comfortably and he would sign off the deal sooner.

There is in fact a much conventional way to offer him great comfort without literally handing a hammock to him. That is by giving him a mesh back office chair.

So why would any executive assistant want extra mesh back office chairs in his downtown United Kingdom office?

Find out more about it here as you read on:

• The leather back chair has been there for so long but it has not been giving fair breathability on whoever sits on it. More often it may give a rancid odor and may be that difficult to clean or replace when torn for years of use. That is not a problem with a mesh back office chair. This type of chair has fabric that gives you absolute breathability and easy to wash or replace.

• Most of these chairs have advance features and one of them is the pneumatic seat height adjustment. This will ensure that the torso and the back of anyone who sits on it will be given optimum support.

• It also has the tension back support which means that even if you stayed all night on your desk there will be less back pains the morning after.

• Its polished aluminum base will ensure that it sits right in a well-designed executive office. It can go with your office's dignified look.

• You can choose among different varieties of mesh back office chairs. There are those that have casters in them to ensure mobility. If you want to exude an executive aura, you can have an executive office chair with mesh back. Even the big boss has to be relaxed. Don't you think?

• You can get a mesh back office chair that has adjustable arm rests. This will accommodate anyone no matter how long his upper extremities are.

• Besides all these features and many more add-ons like headrest and foot caps to ensure weight support, the mesh back office chair is also not that hard to find. You can just browse online and order for this chair type with the specific features you are looking for. No sweat and it can be delivered right on your doorstep.

• You can look for great bargains on this type of chair. All you have to do is look for a reliable site that deals with this kind of chairs. From time to time they give great discounts.

• Most of these chairs have good warranty coverage, allowing you to have free service and replacement when necessary.

• Lastly, the best reason why you should have a mesh back office chair right there on your desk is that you don't want to look ordinary or very traditional, right?

By Jim Oneil