Business Questions and Answers that Affect Your Family's Finances

Don’t Get Caught Out Without A Backup Plan

On more than one occasion in 2014 news headlines have contained two words that – when used together – send a shiver down the spine of every airline boss and traveller, both of the business and leisure variety. Those words are “Iceland” and “volcano”. Should the worst case scenario arise, make sure you and your staff have a reliable travel money card and a backup plan to support them in the event of a potential stranding.

Eyjafjallajokull Volcano in Iceland

Anyone who recalls the events of April 2010 will be well aware that the scenario proposed is not one that affects Iceland alone and that you need a backup plan. When the country’s Eyjafjallajokull volcano erupted it spewed millions of cubic meters of ash into the skies over northern Europe.

Barely visible to the naked eye from ground level, these ash particles are no less a major hazard to aircraft. Circulating in the atmosphere in such a heavy concentration they can both affect visibility and cause damage to engines.

When the risk became apparent, a zone in which airspace was closed crept down across the continent. In the UK, Scotland alone was cut off first – meaning travelers on regular shuttle services such as London to Edinburgh had to make alternative arrangements… all because of a natural phenomenon taking place nearly 1,000 miles from the Scottish capital. As the ash travelled, so the airspace restrictions increased to a point that air travel across most of the continent was cancelled.

You Need a Backup Plan

The thing is this was not a once in a lifetime occurrence – such circumstances could very likely occur again, and indeed there have already been a few scares since 2010. Responsible companies who rely on air travel for any part of their business should make preparations for such a scenario unfolding in future.

Why Cash Flow Improves With Efficient Invoicing

by Guest Contributor

A small business owners’ invoicing process seems like a minute detail in the grand scheme of your business. After all, that small business owner is focused on innovating, selling product and growing his or her business.

But improving an invoicing process — that part of the business that allows a small business owner to get paid — can actually improve your cash flow, allowing the business owner to grow the business. It’ll also save some headaches along the way.

Here are a few tips and tricks to making the invoicing process more efficient.

Understanding Invoicing

Most small business owners didn’t start out as business owners. It’s likely that they started as an employee for someone else in a position that paid them on a regular basis. As long as they were doing their job, they never had to worry where and when their next paycheck would come from.

The small business owner, however, is the one that has to make sure his or her employees have that same peace of mind. It’s not always that easy.

Save Money Investing In Software For Your Business

by Guest Contributor

The appropriate software is something that can not only help your company thrive and be streamlined, but it can also help your business save a great deal of money by investing in software. There are plenty of different software programs out there that can help companies maximize profits and have a much great return on investment.

The proper software can make the difference between a good business and a great business. In a world like we have today, keeping up with the competition is a more daunting task than ever.

The correct software can truly help your company thrive. Here we will share with you four different software programs that can help your business in different areas.

Accubuild.com

Accu-build is a great piece of software that can help those in the construction industry truly thrive with their business. While many construction companies have different software programs for financial management, workforce management, and document management, Accu-Build bundles that all into one easy to use software program.

Accu-Build construction software is a great example of a software program that is truly going to help any construction company be much more streamlined and profit minded.

Xactware

Xactware is another great software program in the builders industry that can truly help companies save money when it comes to repairs, remodels, construction, and more. The many different programs Xactware has to offer can truly benefit builders. The wide array of programs that Xactware has to offer will show builders potential cost so that over budgeting is a thing of the past.

Why A Point of Sale System Streamlines Retail Businesses

by Guest Contributor

Small businesses have a host of problems facing them now that weren’t even remote considerations 15 years ago. The foremost problem that small businesses face is how to balance online marketing with retail outlets. What products do you want to sell online? What products do you want to combine with both your physical and digital location? These questions are just the tip of what a small business owner thinks about. Sales can become a compounded problem when you only have one true inventory. You don’t want to risk selling out of an item and leaving customers waiting. You also do not want items to sit on your shelves. Finding a robust point of sale system can solve many of these evolving … Read more

How to Get Rewards When Spending with Your Business Credit Card

by Guest Contributor

Credit card companies often use rewards and bonuses to attract private clients, but even business products are now starting to come with the same additional benefits. While individuals rack up points and cashback one pound at a time, business credit cards have developed a whole line of innovative programs, offering multiple ways to earn valuable rewards. How To Earn Rewards With a Business Credit Card Points Points-based rewards systems provide attractive flexibility, giving business customers access to a bonus system focused on things they actually need. Points can be earned on most important company expenses, including everything from car rentals to office supplies and insurance to repairs. Once accumulated, these points can then be used against future purchases, helping to bring … Read more

How To Launch An Online Business On A Budget

by Guest Contributor

The following guest post by Kimberly Palmer is based on her new book, “The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life.”

When you’re launching a new online business, it’s tempting to spend a lot of money getting it going. You might want to pay for a professionally-built website, the perfect logo, public relations services and maybe a lawyer’s time to help you get your paperwork in place.

Here’s my advice: Don’t do any of that. At least, not until you launch your shop and have a steady stream of revenue coming in.

There are some exceptions, of course. Certain types of businesses require some hefty start-up costs. A custom cake baker needs an oven and a fridge (and the required licenses); anyone selling products that could potentially lead to injuries needs to make sure they are protected legally.

But for most of us launching online businesses, we can do it on the cheap. Here are five tips to help you keep your own costs down as you build and launch your online business on a budget:

1. Use existing e-commerce sites.

E-commerce websites like Etsy, Fiverr, Elance and Freelancer make it easy and virtually free to create a profile, describe what you have to offer, and start looking for customers. It took me about two weeks to officially open my shop after I first got the idea.

That’s because the infrastructure already exists, you just have to tap into it. There’s no need to start from scratch and create your own e-commerce platform, or even your own website.

Sure, you might want to consider hosting your own site once you get bigger, but to start out, you can simply piggyback on the ones that already exist. An added bonus is that it gives you a built-in customer base of people already browsing those sites.

2. Stick with digital products.

I made the mistake of launching my planner shop with the idea that people wanted to buy bound, printed copies of my planners. I was wrong. The printed planners that I paid hundreds of dollars to create are still sitting in my closet, unsold.

What did sell was the digital version of my planners. Not only does that option save me money in printing costs, but it also saves me time and postage on shipping. Digital products can download automatically, too, which means you’re not keeping your customers waiting.