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Four Festive Christmas Business Top Tips

02 December 2016

There’s not long to go until Christmas, and if you’re a business owner, you’ll probably have already seen some festive shopping changes. Many businesses do their best business in the run up to Christmas. With that in mind, we’ve put together our four top tips on how to make the most of the Christmas period and maximise your own business’s success.

Let us know what you thought of our Christmas tips over on Facebook or Twitter, and if you liked this article, don’t forget to share it!

  1. Run special Christmas promotions

In the past, January was the time when the sales came out. Now, it’s never too early to start putting out promotional offers! Customers love to see offers with a festive twist, so be creative. You don’t necessarily need to slash your prices – it could be as simple as throwing in a free Santa toy with every product or service purchased, or offering a mince pie and a hot drink to every business visitor.

  1. Make sure you’re prepared

There is such a thing as being too busy! If you’re expecting a lot of business this Christmas, make sure you have the staff levels to cover the demand. Staff often like to book holiday during the Christmas period, so make sure you’ve taken this into account in your plans.

  1. Get your business looking its best

Christmas is a time when your business will be seen by a lot of existing and new customers, so make sure it’s looking great. Is your branding the way you want it to look? Is your business address doing you any favours? If you’d like to change your business address to a prestigious London address, you can use our business address service. Find out more about our business address service here: https://blog.eformations.co.uk/address-service/

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  1. Be a social media star

This Christmas, make sure you use social media to its full potential. Decorate your page with festive trimmings to show customers you are up to date and don’t forget to post all of your best Christmas offers. You could also take advantage of the precise targeting of Facebook adverts to advertise your Christmas promotions and introduce some new customers to your business. Facebook ads allow you to target customers within a specific mile radius from your location, so you won’t be paying to reach people who aren’t likely to visit your business.

Never used Facebook ads before? Facebook offer a lot of step by step help on how to create adverts on their Facebook.com/business site.

Are you thinking about forming a company over Christmas or in the New Year?

We’re here to help make sure your business succeeds! At eformations, we offer a wide range of business services designed to make forming a company and running a company, easy, hassle free and affordable. To find out more about our company formation service, and other business services, visit our website: https://blog.eformations.co.uk/Or alternatively, give us a call on 020 8232 5479 for a friendly chat.

The First Year In Business: How Successful Startups Made It Through

07 October 2016

Starting a business is a big risk, but often one that is worth taking. A lot of the time, start-up owners are on the line financially and sometimes even mentally during their first year of business. That first year is critical in deciding whether your business will be a success or a failure. While no one possesses a magic formula that can tell you for sure if your business will be a hit or a miss, these tips will help you to make that first year as good as it can be and line your business up for its best chance at success!

Keep on trying

When you read about businesses succeeding or failing, you’d be forgiven for thinking that there are only two options – magical unicorn businesses that are instant runaway successes and disastrous failures – businesses that have always lacked potential and are doomed from the start. The truth is that most startup businesses usually fall somewhere in-between these two extremes.

In order to influence your business in the right direction, perspiration and perseverance is required in order to make your inspiration pay off. It’s also important to try and maintain a positive outlook despite the challenges that your business will inevitably face. If you can see past these challenges to the future of your business, then you’re well on your way to succeeding.

Work together

Time is a commodity during the first year of a start-up and business owners are often immersed in the business, but it can be good to take some time to talk to colleagues, friends and other advisors. Collaborating with these people is a great way to gain feedback, insight and even new ideas that could help your business.

Not every conversation will be of value to your business, but in general most will be positive and you’ll also be building yourself a support network that will be useful in years to come.

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Enjoy the journey

This is an important one! There are a lot of risks involved with starting a business and some challenges can seem insurmountable and create a lot of stress. However, the opportunity to pursue something you truly believe in, to see it grow and to be your own boss is considered by most to be excellent compensation for the initial tough times after forming your company.

Plan for the future!

Planning for year two is something that is important to do. Setting long term goals, such as having five year plans, is also recommended by many leading entrepreneurs. This will also help you to see past any challenges that appear during year one and aid you in finding a way through to business success. It’s also great to set goals so that you know exactly what each task you do is contributing to!

Are you ready to begin your business journey to success?

From forming your company with our online company formation service, to business accounting and much more, we’re here to help your business on its journey to success. Find out more about the services we offer on our website: blog.eformations.co.uk Or alternatively, give us a call for a friendly chat on: 0208 232 5479.

Why Brexit Is Good For Business

11 July 2016

There’s been a lot of doom and gloom around the result of the referendum, mostly due to the devaluation of the pound, but is Brexit really bad for business? Here are six silver linings to Brexit that may benefit your business.

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1. Property

With uncertainty about sterling, the prices of UK property may fall in the future. This is good news for property entrepreneurs and businesses who are looking to purchase business premises.

2. It may be easier to get a loan for your business

The Bank of England are easing lending rules to stimulate the economy. As well as there being an extra £150 billion available in loans, analysts believe that the Bank of England may cut their interest rates soon to make loans an even more attractive prospect.

3. Businesses in the tourism industry will benefit

With the value of sterling down, the UK may become a more attractive holiday destination to foreign visitors. Foreign destinations are also comparably more expensive, so British holidaymakers may decide to holiday at home.

4. Exporters will benefit

Businesses who rely on imports will be feeling the crunch after the devaluation of sterling. However, businesses that export will be looking at Brexit as an excellent business opportunity. Many exporters are locking in forward contracts at the current rates in order to get the best deal.

5. New talent

While critics believe that businesses who largely hire talent from the EU will see a detrimental effect on their staffing due to Brexit, there is an alternative view that suggests Brexit may improve the workforce.

After Brexit, it is likely that the UK will allow more migrants from countries such as China, India, Australia, and the US, to move to the UK. Businesses may be able to recruit skilled workers from these countries. There is also the possibility that a points entry system will be established – much like Australia’s. This in turn may mean higher quality candidates coming into the UK looking for work.

6. Less red tape

Most businesses, from the micro to huge corporations, have experienced frustration at some point due to EU regulations. Brexit should give the UK full control over how business is run in Britain, which should help British businesses to thrive. After Brexit, the red tape could be removed very quickly and businesses may see benefits almost immediately.

A good time to start a new business?

In times of change, there are always opportunities for entrepreneurs and new businesses. If you’re thinking about forming a company, this may be the perfect time to do it. Take action today and use our online company formation service to form your company in just a few hours. You can find out more about our online company formation service here.

4 Reasons Why You Don’t Need a Brilliant Idea to Start a Business

14 March 2016

Entrepreneurs are often seen as ideas people. They pluck their inspiration from the world around them and come up with brilliant, game changing concepts that catapult them to success and net them millions, or even billions of pounds in profit. But what if you don’t have a burning idea that will change the world? Does that mean that you can’t be an entrepreneur or start a business?

It doesn’t mean that at all! Here are four reasons why you don’t need a brilliant idea to start a business.

  1. Starting with the perfect idea is rare

Most of the big businesses successes you hear about didn’t hit the ground running with the perfect idea. They probably had an idea that they then tweaked until it turned into the idea we know and love today. PayPal started out as a money transfer service to another set up, Confinity. It wasn’t until later that PayPal became the hugely successful company it is right now. Don’t be afraid to start with what you have. Just be sure to react and make changes as you find out what works and what doesn’t.

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  1. Inspiration is already out there

A lot of serial entrepreneurs take their inspiration from the daily paper, and you can too! Flicking through the pages and making a note of the headlines is a great way of identifying trends that you can then cash in on. Is a shortage of plumbers mentioned? You can be the one to set up a plumbing training course!

  1. Don’t worry about the idea, it’s all in the execution

A lot of people have great business ideas but they are doomed to remain as ideas for ever. The most important step towards becoming a business success is starting the business and working as hard as you possibly can to make it happen. Don’t just dream about it, do it!

  1. Take an idea and do it better

If your perfect business idea is already taken, that’s okay! If there’s a business concept that you admire but think could be done much better, why shouldn’t you be the one to make those improvements? This is another excellent way of starting a business without a brilliant idea. If you’re modelling yourself on an already fairly successful business, you can also be assured that there is a demand for the product or service you’re going to offer.

Have you been inspired to start a business?

Why not form your company online today with our online company formation service? You can find out more and form your company right away, here: https://blog.eformations.co.uk/

We’re here to help

At eformations, we’re here to help your business succeed. From a stress-free online company formation service, to business accounting and more, we’re here to assist you and your company. Visit our website to find out more about how we can help you: https://blog.eformations.co.uk/ Alternatively, why not give us a call for a friendly chat on 020 8232 5479.

4 Ways To Make Your Business Boom This Summer

30 July 2015

For some businesses, the summer season is the busiest time of year. However, many companies, especially B2B, will be bracing themselves for a drop in revenue as other businesses go on holiday and business staff take vacations too. Even if your business isn’t naturally geared to make a big splash in the summer months, you can do a lot to ramp up your revenue by taking action to gain future customers. Here are four tips to help make your business boom this summer:

  1. Take it to the streets

There are many outdoor events at this time of year and your business can benefit from them! Have a look at local festivals, fairs, and popup shop opportunities. Even if you don’t have any physical products to sell, this is a great way to become known in the community and to reach an entirely new potential client base. Spread the word!

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  1. Be sociable

This follows on from the first tip. It is also important to be sociable in the digital world. Make sure your social media accounts and website are up to date, and if at all possible, display posts with a summer theme. Graphics and photos should be lighter and brighter to reflect the season. Use your company’s down time to engage with large conversations on social media and use relevant hashtags to build your audience.

 

  1. Take time to reflect and improve

If summer isn’t going to be a very busy time for your business, use the time to reflect on the year that’s gone by and consider what’s gone well and areas you could improve in. Some things to consider may include how your brand is seen by potential customers and how efficient and organised your business is.

 

If you don’t think your business location is doing your company any favours, why not use a business address service? We offer a business address service that will enable you to use a prestigious London address on your business stationary. This is a great way to gain respect. https://blog.eformations.co.uk/address-service/

 

Have you formed your company? If you’ve just started out in business, but haven’t had a chance to form your limited company yet, the summer is a great time to do it. Don’t put off this essential step! If you’re putting it off due to the complication and time it will take, we offer a company formation service that will form your business in 3-5 working hours. (INSERT LINK)

 

  1. Use summer themes to tempt customers

Many businesses take advantage of the warmer season with seasonal offers. Why not package some of your products or services in a bundle and market it as a ‘summer saver’ or something similar? You could also brand it with bright, sunny colours and promote it outside your premises to show you’re in the summer spirit! It’s good to have something new happening in your business.

 

Need help making your business boom this summer?

At eformations, we’re here to help your business succeed. Whether you need a first class company formation service or to make your business address more prestigious, we’re ready to assist. For information about these services and any other services we provide, please call us for a friendly chat on 020 8232 5479, or visit our website: https://blog.eformations.co.uk/

 

 

3 Business Pitching Sins And How To Avoid Them

24 June 2015

Gaining funding for a start-up, especially if you’re new to business, can be a very challenging task. There are many pitfalls that should be avoided when pitching potential investors. With this in mind, we’ve collected together 3 business pitching sins, made by many new business founders, and how you can avoid them.

Don’t forget to let us know what you thought of this business help article over on Facebook or Twitter!

  1. Being unprepared

Before you approach potential investors, being completely prepared should be number one on your to do list. Do your market research and have realistic financial forecasts and answers to questions such as: ‘how much will it cost to get a customer?’, ‘When will you turn a profit?’ and ‘what are your main competitors currently doing?’

Another great way to make an excellent first impression is to have already formed your company. This can show a level of commitment that will demonstrate to investors you are serious about your business. If you’re daunted by the prospect of forming a company, have a look at our online company formation service packages: https://blog.eformations.co.uk/prices-packages/

Get a good business address. When initially communicating with potential investors, having a London business address on communications can really help your future business look great. If this is something you believe may help your company, you can find more info on business address services here: https://blog.eformations.co.uk/address-service/

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  1. Asking for more than you need

When starting a business, you may think that asking for more money than you need is better than having to struggle. However, having too much can cause the business to spend money on less essential areas and have a complacent approach. It’s better to start lean as it will keep you focused and you’ll also be able to raise the cash quicker.

It is also important to have a reasonable prediction of how much money you genuinely need to start the business. Work out all of the costs you can and make educated predictions for others. By outlining these costs in your pitch, you’ll also demonstrate to your investors that you’ve thought about it all.

  1. Making hard to keep promises

One of the biggest things that will put off investors is hearing phrases like ‘we are planning to’ and ‘we will do’. Pitching on a promise is a bad idea. More experienced entrepreneurs will simply state facts with a few personal interjections that support their case for investment. Don’t ask investors to bet on your future before you’ve taken any risk yourself.

Need help starting your business?

At eformations, we’re here to help your business get off to a great start. From a fantastic easy to use online company formation service, to a brilliant business address service and much more, we’re here to help you succeed. If you’d like to find out more about us, please visit our website: https://blog.eformations.co.uk alternatively, we’re always happy to have a friendly chat with you to answer any questions you may have. Just give us a call on 020 8232 5479.

Five Tips For Successfully Running Multiple Businesses

13 April 2015

For many entrepreneurs, one business simply isn’t enough. Having multiple businesses is also a great way to generate multiple streams of income, and if you delegate well enough, it can even lead to the holy grail of business owners: passive income. It also means you don’t have all of your eggs in one basket.

However, balancing multiple businesses is a delicate task and it’s a lot more complex than forming a company, forming another one and then trying to do everything at once. We’ve put together five tips that will help you to successfully run multiple businesses and eventually generate multiple streams of income.

  1. Choose your projects wisely

Find a niche, test it, and then fill that gap with your product or service. Your idea doesn’t have to be completely original; it can just be your own twist on something that already exists. Choose something you’re passionate about, you may be working on this project for years, so it’s important to stay interested!

 

  1. Hire great people

Successful businesses require great staff. If you’re juggling multiple businesses, having those extra pairs of hands around to catch every ball is very important. Having great people, who share your vision, on board will also help you gain new opinions and insights that could help your businesses succeed. Always listen to the people you work with!

 

  1. Pick some great partners

Once your business and brand gain a reputation, you may discover that people want to work with you. While diversifying with partners is a great idea, as you can benefit from their talents and experience, always keep in mind whether or not it fits with your vision and brand. However enticing the offer may seem, make sure it feels right and don’t be afraid to say no if it isn’t, as it will benefit your business in the long run.

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  1. Start simple

The best way to begin your journey to owning and running multiple businesses is to start with one. Successful businesses usually start small and grow. Even though you may have multiple good ideas for businesses, it’s always best to start with one and master it before moving on to your next project. Sticking with one maximises your chances of success, as forming multiple companies and trying to start them all at once is likely to mean that you’re spread too thinly and do a poor job.

 

  1. Keep working hard

Whether you’re working on a single business, or have several ventures on the go, it is important to keep your foot on the pedal. If you’re at the head of a business, by working hard, you’re setting a great example for your employees. Working hard doesn’t mean never having a break and sometimes it’s good to step back from the project and see it from a new perspective, but a great working ethic is important if you want your businesses to stay successful. Hopefully you’ll be passionate about your projects and it won’t feel like work!

Thinking about forming a company?

If you’re considering forming a company, we’re here to help. Our online company formation service is easy to use and your company formation will be done in just 3 – 5 working hours. If you have any questions about this service or any of our other business services, call us for a friendly chat on 020 8232 5479. Alternatively, visit our website blog.eformations.co.uk for information about all of our business services.

Seven Top Tips For First Time Business Owners

02 April 2015

Even the biggest success stories come from small beginnings, and there is absolutely no reason why you can’t be a success too. With the right idea and a lot of hard work, you’ll be on your way to business success. However, there are many things it is helpful to know before forming a company and starting your first business. Here are seven top tips for first time business owners that will help you to launch your first venture successfully.

  1. Focus on one idea

Entrepreneurs often feel like they should be taking every opportunity and capitalising on new ideas. However, having multiple projects on the go means that you’ll be spread too thinly, which can slow your progress. It is better to do one thing perfectly than ten things poorly. If you’re thinking about jumping on another idea, it may be that your original concept isn’t grabbing you enough. See if you can adapt it and try to see an idea through from start to completion.

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  1. Analyse weaknesses and strengths

What are you good at and where do you lack experience? It is a mistake to think you’ll be able to do everything yourself. Figure out where your strengths lie and surround yourself with successful advisors and mentors who will help you to become better at business.

  1. Start cheap

When you’re starting out after forming a company, watch every pound and triple check all expenses. The money in your wallet is all that’s keeping your business afloat at the start, so keep a close eye on it! Fancy offices and cars should wait until after business success.

  1. Scale down

If you need a lot of capital to get your business started, you should probably rethink your concept. Investors are unlikely to give money to someone that is untested. Scale down your idea and make it work as an early stage venture. If you’re successful, investors are more likely to be interested.

  1. Do what you know

Businesses built on strength and talent have a greater chance of being successful. Don’t jump into a business just because you think there’s a chance to make a lot of money fast. Do something you know and something you love. You’ll be putting a lot of work into this one idea so it’s important to like it!

  1. Learn your pitch

You never know who you’re going to meet, so it’s a great idea to have a thirty second pitch you can reel off. Be sure to adapt the pitch to the person and always be concise.

  1. Know when to walk away

If your idea doesn’t pan out the way you envisaged, know when to walk away. Don’t go down with a sinking ship. Instead, reflect on where mistakes were made and what could be done differently next time. Then try again, either with a new idea or with a fixed version of the old one. Never give up and you will prevail in business.

Thinking about forming a company?

We offer an easy to use online company formation service that will help you to register your limited company and start trading in no time. If you’d like to find out more, or to talk about any of the other services we provide, call us for a friendly chat on 020 8232 5479 or alternatively, visit https://blog.eformations.co.uk/

 

5 Ways To Fix Pre-Company Formation Nerves

09 March 2015

Deciding to form a company is a big commitment and some pre-formation nerves are normal. If you’re still worrying about whether or not your business idea will be a success and need help feeling more confident, read on and discover five ways you can fix those pre-company formation nerves. These fixes will also help ensure that your business goes on to succeed in the long term!

Test The Market

Hopefully you will have already done a lot of market research before committing to your business idea. While it is relatively simple to profile your perfect customer, there is no replacement for real world testing. Go to where your customers will be and test your product or service and ask for feedback. This is also a great way to get testimonials from clients before you’re officially open for business.
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Talk Your Business Plan Through With Other People

It’s easy to worry that you’ll bore people by talking about your business all the time, but asking someone if they wouldn’t mind listening to your plan and sharing their thoughts on it can be a good idea. Ideally this person will not be too biased in your favour, so avoid family members and close friends as their answers may not be as useful. The people you talk to don’t necessarily have to be your target customer or even in business themselves, try and talk to a variety of people. You never know who may pick up on something you’ve never thought of before, or spot a flaw that was invisible to you!

Engage With Your Business’s Future Community

A great way to get your business off to a flying start is to engage with your potential customers and other influencers in your chosen field. If you do this before you start selling, you’ll hopefully have already started doing the work needed to establish you and your business as an authority in your chosen area.

Keep The Paperwork Stress To A Minimum

When starting a company, it’s possible to get caught up in all of the paperwork that goes with running a business. This can take focus away from the business itself and can slow down progress. A great way of keeping paperwork stress to a minimum is to outsource admin tasks and use a company formation service. We provide an online service that will result in company formation in just 3-5 working hours.

Start Right Now

Some people spend months, or even years, planning a business idea that may not actually work when put to the test. Some of the best advice you can follow is to start running your business as soon as possible – even if it starts out as a skeleton operation! When you start successfully selling and taking orders, you’ll know you’ve got a winning idea. Conversely, if your business isn’t immediately successful, you’ll be able to make changes quickly before too much time and money has been wasted. If you are going to fail in business, it’s always better to fail fast.

Are you starting a business?

At eformations we’re ready to help you through every step of company formation. Instead of struggling with paperwork, form your limited company with us, using our simple and stress free online service. If you have any questions or would like to discuss any of our services, please contact us for a friendly chat on 020 8232 5479 or visit https://blog.eformations.co.uk 

 

 

 

 

 

 

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