User simon swords - WhenBusiness

Answer by Simon Swords for What's the Best Bookkeeping Software for a Small Start-up?

2009-11-09T16:49:44Z

Personally I would recommend www.xero.com or if this doesn't take your fancy check out one of the many other online bookkeeping packages. Plenty of plugins, excellent support and more features now regularly added.

Whatever you do decide please stay away from Sage!!

Answer by Simon Swords for Business Challenges for a start up company

2009-10-21T15:40:18Z

The challenges that a start up business will face depends largely on the strategy the business has for growth. However, a challenge common to all businesses regardless of their size or shape is cash flow, or rather a lack of cash flow. Running out of cash is the equivalent of a heart attack and within days your business will be dead.

During the first few years of trading when a business doesn't have much cash it is vital that the business keeps a tight reign on its creditors. This includes credit checking new customers, chasing overdue invoices promptly and establishing at least 30 day payment terms with suppliers to ensure that the business keeps cash in the bank whenever possible. On top of the aforementioned ideas when I started my second business I decided to apply for an overdraft while business was good, not because I needed it but because I knew it could come in handy at a later date.

Answer by Simon Swords for Do I need a business plan?

2009-10-20T15:08:59Z

If you don't write down what you expect your business to achieve you cannot benchmark against your expectations at a point in the future. In other words, if you don't know where you're going how do you know if you've made it there?

I would suggest that all businesses no matter how large or small need a business plan, even a simple two page document, outlining what you hope to achieve over the course of the next year. At the end of the year dig out your business plan and update it according to the progress you have made. Realign your objectives for the next year and repeat year on year. As your business and your understanding of your business grows you'll want to expand on your business plan to include more information I'm sure.

Answer by Simon Swords for What should I do when my small business is slow?

2009-10-19T17:42:17Z

If you're running a bricks and mortar setup without a website I would suggest that you're missing out on a huge amount of revenue. Get yourself a cheap e-commerce website (there are plenty of online shops you can customise for little cost). You can then include your online shop details on your literature.

Also how about providing services over and above that of just shipping A/V boxes. You could hold cinema nights in your shop to show the quality of the goods you sell. Provide custom installations or consultancy on your equipment. Position yourself as a centre of both knowledge and equipment.

Finally, why not partner with local builders and architects to provide A/V equipment, knowledge and servicing to their existing customer base?

Hopefully one or more of the above ideas will see you through this quiet period. Good luck!

Answer by Simon Swords for When is it a good time to start renting an office?

2009-10-19T17:36:41Z

The primary question I asked myself before we moved in to an office was "will the renting or purchasing of office space increase our revenue to the extent that the office pays for itself?". I held off moving out of the garden shed myself and my developer were occupying until I knew the answer to this question was a profound "yes". The only other factor you may consider as a driving force behind getting office space is the need to take on more employees.

With technology available such as VoIP/Skype, e-mail, GoToMeeting etc. you should be able to work from home and still engage with clients. If a face to face meeting is essential request that you go to the client rather than they come to you.

If you have read all of the above and decide that you still wish to pursue commerical space make sure you negotiate heavily with your potential landlord, especially if you're taking on a lease. With the current economic climate you should be able to request break clauses that get you out of long term leases at predefined points, a reduction in your rent for the first year, caps on service charges, redecoration of the office free of charge. The list is as long as your imagination and haggling skills will allow.

Good luck!

Answer by Simon Swords for Customer Management software with Quickbooks integration

2009-10-17T22:19:32Z

Check out the QuickBooks market place for a range of CRM applications that integrate with Quick Books, I'm sure one of them will meet your needs

http://marketplace.intuit.com/v2/f-crm-sales-automation/software-solutions.aspx

Answer by Simon Swords for Do NDA's really mean anything ?

2009-10-17T22:14:56Z

While I would never suggest that one should ever do without legal documentation when disclosing sensitive business information or ideas I have to agree that the enforcement of the NDA should the need arise is expensive, time consuming and difficult to see through.

To this end I would suggest that NDAs be used in conjunction with due dilligence and common sense. Perform background checks on any business or individual you're thinking about divulging information to. Ensure that they are trustworthy and more importantly only give away information vital to the context of the discussion you are currently having with them.

Answer by Simon Swords for Where do I find a good graphic designer?

2009-10-17T22:06:03Z

Check out http://99designs.com. A site for posting your design brief from which multiple designers submit numerous designs for you to choose from. Very powerful and very cost effective.