Starting a business is no simple task, preparation and planning is paramount. As an entrepreneur, pre start-up can be just as important for the success of your business as your activities when the company is up and running.
Some tips listed by entrepreneurs to prepare you for entrepreneurialism were described by Entrepreneur.com;
Identifying your ideal market segment is half the battle when trying to tailor your products, services and marketing activities. Market segmentation can allow you t provide tailored services to these consumers. For small businesses this is particularly important as you try to drive customer loyalty, against larger competitors. Here are some cost effective ways to do so;
“Let it be heard around the world… Britain is open for business” Those were the words of George Osborne as he announced the new 2011 budget yesterday.
The budget was seen to increase tax breaks for small businesses, as small business research and development tax credits will rise to 200 percent in 2011 and 225 percent in 201, giving some small companies more than twice as much as usual off their tax bills for research and development. The current £370m rate holiday for SMEs will also stay in place until 2012.
Virgin Media have conducted some interesting social media research. The report showed that of 5,000 businesses surveyed a third of them are utilizing online networks such as facebook, twitter and linkedin.
Some of the uses of these networks for small businesses include communication, customer service, recruitment and advice. Within the UK the south west was best using these functions.
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Of 1,000 businesses studied coming into the New Year 71% have stated that they want to improve their online presence in 2011, mainly through social media and marketing. However, only 25% said they would make it a priority stated smallbusiness.co.uk.
This inevitably will lead to a boom in the amount of social media experts and technicians needed in the coming years. 15% said they would create specific new roles within their business to cater to this need and an even greater 65% said they would be considering hiring freelance experts.
