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Five Business Technology Tips That Will Help Grow Your Business

16 February 2015

You’ve got a fantastic idea for a business, you’ve planned it all out – don’t let your business fail by overlooking technology. Modern businesses have to be up to speed with the latest technological advances in order to connect with their customers. Technology can also be used to help organise your business by saving time and highlighting areas of weakness and strength through data. When forming a company, take some time to research and get to know technology that will help drive your business to success.

You can get started right now by reading our top five business technology tips that will help grow your business.

Get a handle on which data is important for your business

Once you start running your business, you’ll find there’s a lot of data to get a handle on. Working out early on which metrics are key to your business will save you a lot of time later and help you to monitor and improve your business. Starting by using a service such as Google Analytics to monitor conversion rates and customers’ online journeys can be a good way to begin doing this.

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If it saves you time, don’t be afraid to spend money on technology

If there was a choice between a free service and one that cost you £10 a month, but took an hour less to do the job, it would be sensible to pay the fee. If you’re going to earn more than £10 in that hour of free time, this is a good choice. However, it’s a good idea not to make big upfront payments and commit to long term software usage at the start of a business.

Make your website work for you

Work out what you want your website to do for your business. Every business should have a website, even before they’re officially trading, as it looks professional. Depending on your product or service, you may use your website to sell online or simply as an online business card. It is a great idea to have an email opt in form included on your website so you can start building an email list of potential customers.

Meet your customers at their social media hang outs

The first thing you should do is work out where your customers hang out online. A lot of time can be wasted on marketing on the wrong social media channels. Research the user demographics of social media sites, such as LinkedIn and Facebook, and work out where your audience is.

Look bigger than you really are

It can be a good idea to use a telephone answering service and an address service for your business as it creates a professional impression that customers will appreciate. At eformations, we offer both of these services for businesses.

Need a helping hand with your business?

At eformations we’re here to help your business succeed. Services we offer include company formation and registration, an address service and a telephone answering service. For a full range of the services we provide for businesses, please visit our website here:  https://blog.eformations.co.uk/

Alternatively, if you’d like to find out more about any of our services, please contact us for a friendly chat on 020 8232 5479.

 

 

 

 

Bootstrap Business: The Most Affordable Way To Start A Business

09 February 2015

Starting a business can mean that a lot of money has been put forward and there is the potential for that money to be lost. It is this risk which stops many companies from ever being formed. For those starting out in business, the more money that can be saved, the less of a risk forming a company becomes. We’ve collected together some of the most effective ways to make starting a business affordable, which we hope will inspire you to go ahead and form your limited company!

Get as many things right first time as possible

This may sound like something that is easier said than done, but there are certainly ways to improve your likelihood of getting things right first time in business. Hopefully you’ll already have conducted extensive research which should indicate that your business idea is a viable one. Beyond that, a great way of getting things right, after forming your company, is by reaching out to other business owners and drawing on their experience. Most people are happy to share tips and you’ll also make your business some allies, which may benefit you in the future!

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Strip down your operation

Some businesses start very small and then grow, but other businesses need a certain number of people to be effective. At the start of a business, an elite team is required, but keeping things stripped down doesn’t have to mean cutting your costs by cutting staff. Instead, consider your office space and other expenses that could be reduced. Where you can, make savings. For example, perhaps have some staff working from home, or source your office furniture from a site like Freecycle.

Outsource rather than hire

Outsourcing is a great way to utilise a large pool of people without the costs usually associated with running a large business. Outsourcing also allows you to hire people for a single job that you’re certain they can do. By using freelancers, you can avoid complicated employment law and keep a close eye on the business’s finances.

Use experts to help your business

Using experts is another good way of saving your business money in the long run, and sometimes in the short run too! Instead of spending hours figuring out and filling in complex paperwork, invest in a company formation service with a reputable company. One of the greatest mistakes often made by people starting out in business is to try and do every task themselves. By outsourcing and using experts, jobs will be done faster, better, and you’ll have more time to focus your attention on making the business succeed.

We’re company formation experts and more!

Here at eformations, we offer a wide range of business services, designed to take the pressure off you and help your company to succeed. We’re business experts, and will provide professional results fast. If you’d like to find out more about any of our services, please contact us for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk 

Business Success Stories: Four Secrets Of Successful Companies Who Did Well In Their First Year

02 February 2015

The first year of business can be a rocky time for companies just starting out, and it is during this time that many businesses fail. However, there are many success stories out there which can inspire your own business and help you to become a business success.

  1. Find the right inspiration

All businesses start with an idea. Sometimes an idea for a business comes from working for an employer and realising that something could be done better. Other times, business inspiration strikes because of an idea inspired by an occurrence in daily life. A good way of knowing if a business is right for you is to consider whether you feel passionate about the concept. All businesses experience ups and downs and commitment and passion for an idea is needed in order to persevere.

 

The entrepreneur behind AlgAran, a seaweed product company, first became fascinated with seaweed because of its impressive results as a grape fertiliser. This inspired a fascination with seaweed which resulted in her spending so much time researching it she says she was shunned by her friends due to it being all that she talked about!

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  1. Discover your motivation

Money is often the first answer that springs to mind when people are asked why they want to have their own business, but the most successful businesses are usually founded because their founder was passionate about solving a problem or improving upon an existing idea. Some entrepreneurs are even motivated by the excitement of building teams and starting something new. Listen to successful serial entrepreneur Judy Estrin talk about what motivates businesses here: http://www.bbc.co.uk/news/business-24853536

 

It is a great idea to consider exactly why you’re in the business you’re in – even if you’ve been doing it for a while!

 

  1. Be prepared to be flexible

Many businesses fail because their owners get fixated on one idea and refuse to make any changes that could result in massive success. PayPal was originally envisioned as a cryptography company and overcame many failures before they found their sweet spot as an online payment system. If something isn’t working about your business model, consider a slight change of direction. Small adjustments can make a huge difference and lead to business success.

 

  1. Don’t be afraid to grow your business

If you’ve conducted research, tested the idea, and are passionate about what you’re doing, you shouldn’t be afraid to seek funding for your business. While obtaining backing for a new business can be tough in the current economic climate, raising money to grow your business is very important and will stop you from trying to do every single task yourself. Funding can help your business to grow faster and succeed faster.

 

Applying for backing might seem intimidating. It’s a great idea to connect with other business owners and entrepreneurs who’ve obtained backing before and ask their advice. Starting a business shouldn’t be a lonely process!

 

Taskrabbit, a business that specialises in errand running, connected with an already successful entrepreneur who supported the idea and allowed Ms Busque to watch him scale a business of his own and raise the money to support it.

We’re here to help your business succeed in its first year and beyond

At eformations, we offer a wide range of services beyond company formation. We’re here to help demystify the behind the scenes work that goes into running a business. Using our business services will help free up your time so you can focus on taking your company forward. If you’d like to find out more about any of our services, please contact us for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk