Month: April 2018

Starting a new business can be a difficult venture with its own challenges. Follow these three tips to ensure a success start to your company!

#1 Work with purpose

Find a mission that you feel passionate about and be purposeful in the birth of your business. Pursuing something just for the sake of it may not hold you business in the long run.

#2 Focus on one project at a time

New businesses owners often feel the need to pursue several projects at once and reach for every new opportunity to ensure growth in their company. This can be more harmful than beneficial, as the original purpose gets lost in the process.

#3 Practice your pitch

Now that you’ve decided your mission and have narrowed down your projects, the next step will be attaining funding and building interest in your product or service. Build a 30 second pitch that highlights what you’re business does and how it adds value to the customer or the larger society.

Building a strong foundation is important in starting a company and will help you go far!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow

Brexit has raised a series of questions and uncertainties for the people of Britain, and even more so for those involved in financial services. One major concern going into the new policy was that London’s previously iconic finance industry would suffer globally. Now that the initial chaos is starting to subside, professionals are recognizing that there is hope after all.

British policymakers are pushing to work with the EU on a basis of mutual recognition of each other’s regulation. As of now, this has received criticism from the EU however attitudes are starting to shift. Rather than seeing Brexit as a barrier between the UK and the bloc, other countries are becoming more reasonable and calm in their interactions with the UK.

Even though there is a sense of optimism in Britain regarding the policy, several banks and other financial institutions are developing quarters in other areas in an effort to maintain connection throughout Europe.

Many professionals believe that regardless of the policy that is finally agreed upon, London will always maintain its image as a financial hub within Europe.

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com

In today’s world, established an online presence is key to success. Websites are a great resource for current and potential clients to keep updated with information on the company, such as an address, hours, or services. For someone without a technical background, it can seem like a daunting task to have to create a website from scratch. Although it is an option, it is not always necessary to spend hundreds of pounds on a professional website developer.

Using a template

One popular option is to utilize a website building site. These include GoDaddy, SiteBuilder, SquareSpace, and Weebly. Each option has a wide range of choices, and each is aimed for a different approach. It is best to look at each in order to decide which would be best for the company at hand. Using one of these websites is usually cost effective as cheapest packages can be around 4 pounds. Depending on the complexity of the website this price can vary. If you use one of these providers, you also will not have to worry about finding a separate hosting service, as this is often included.

Domain Name

You will also need to come up with a domain name, which is essentially just the name of your website. It is best for the domain name to come as close as possible to the company’s name, as that will make it easier for others to find and identify the website. It is also important that the domain name be short and sweet so that it is memorable and user friendly. You may need to get creative with domain names as it is possible that your company name is already taken. Purchasing a domain name is usually can range from 2 pounds to 100, depending on your choice of extension.

Websites are crucial to the success of small businesses and are very simple to begin!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com.

Saving money is especially important during the early phase of your business, however, the needs of expansion can often be expensive. Here are some ways to cut costs while still getting the job done.

#1 Legal fees

Legal fees can get out of hand when not managed properly. Some ways to keep these fees down are to be clear with your lawyer about the job so no time is wasted in mistakes and by taking advantage of the multiple billing options available. In most cases, you can choose between an hourly rate or a flat fee, so determine which is most cost effective for the project at hand.

#2 Renting vs. Buying

If your business uses equipment for its operations, consider renting over buying. If the item is needed only once or for a short time, renting can save you money by cutting out maintenance costs and making sure you do not pay more for something that won’t be used often.

#3 Marketing and PR

If your business is still growing, taking care of your own marketing can help save money from salaries and help you deliver a very clear and targeted message to the world. After all, you know your business best.

By keeping these few aspects of your business in mind, you can start to cut down on costs and improve the state of your balance sheet!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com

Small businesses often find themselves subject to a rough spot in regards to navigating finances. Here are some ways you can keep your business financially stable through the instability that comes with this new endeavor.

#1 Stay organized

Although it seems simple, there are often many loose ends that are associated with starting up a business that can be hard to keep track of. By establishing a place for different documents and records, you can always look back to a specific day or purchase on demand. Using online resources such as QuickBooks can help with this.

#2 Hire strategically

As the business grows, so will the number and diversity of tasks that need to be completed. Instead of hiring several full time workers to complete this, consider other cheaper options to save money early on. This can include hiring freelance workers or part time interns. Carefully consider the task you are hiring for and evaluate accordingly. If it is a one time project, consider cheaper employee options.

#3 Limit personal spending from business funds

With small business, the line between personal and business is often blurred. Overspending early on can lead to problems later, so it is best to keep the personal and business funds separate. Consider establishing a separate salary for yourself and sticking to it.

Keeping a tight leash on your spending and being detailed in financial tracking can be the difference between a successful and unsuccessful business. Be sure to use these tips to ensure the efficiency of your finances!

For more tips and tricks on helping you grow your business, follow Budget Mastermind on LinkedIn or @budgetmastermnd on Twitter!

Budget Mastermind provides business finance solutions to help grow businesses. If interested in our services, visit our website at www.budgetmastermind.com.