These Are The Easy Online Business Opportunities You’ve Been Looking For by John Hawthorne

Brick and mortar is no longer a necessity for entrepreneurs. If you want to start a business, you just need a good idea, a computer, and internet access. You want to run a business from the comfort of your home or a beach or a chalet in the Alps? You can do it.

Of course, before you start an online business, you need to have an idea or two. People aren’t going to pay you to surf the internet.

Consider this article your guide to finding the online business that’s right for you.

We’ll cover the different business models, help brainstorm business ideas, and give you the step-by-step guide to getting off the ground.

The Different Types Of Business Models

Before we jump into how to start your business, it’s a good idea to know the common business models out there. Once you know the various models, you can pick the one that’s the right fit for your personality and goals.

Merchant & Brokerage Models

When selling a product to consumers or to other businesses, you have two different types of models: merchant and brokerage.

Merchant — A business that opens up an online store where consumers can buy products directly from the company. Target’s online store is a prime example of this. If you want to buy Target products online, you go to their eCommerce website. If you have a product you want to sell, the merchant model could be perfect for you.

Brokerage — A business that brings sellers and buyers together into one marketplace (example: Amazon and eBay). The buyers purchase from the sellers and the brokerage takes a small fee. Thousands of people have created full-time jobs and businesses from selling products on eBay, Amazon, and other brokerage sites.

Community Model

The community business model is when consumer reviews of products and services drive the success of the model.

This could be businesses like Angie’s List or Yelp. Basically, the model relies on consumers sharing info and experiences about the business. The consumers benefit from the honest reviews and the business can monetize their customer base. For example, Angie’s List charges to let customers see the reviews and Yelp lets businesses advertise on their platform.

If you can create a platform where consumers can share reviews with each other, you could have a big money-maker on your hands.

Infomediary Model

An infomediary gathers information about products and presents it in an unbiased way to their customers. For example, Consumer Reports objectively reviews products and then presents that information to their customers. Some sites like Wirecutter review products, present an unbiased opinion, and then receive a commission if someone purchases through them. If you love reviewing various products and giving unbiased reviews, this could be a great option.

Affiliate Model

Websites that are a part of an affiliate program make a commission from the products that consumers buy through said website (example: Amazon’s Affiliate Marketing program). Websites that get a significant amount of traffic or have dedicated followings can get significant revenue through affiliates.

Advertising Model

You see online ads everywhere you go, from Facebook to Google to Forbes. If a company has a significant amount of exposure (think web traffic), they can charge other companies a premium to advertise on their site. In terms of a business, if you can create a website or app or platform that attracts a large following, you then become very appealing for businesses who want to promote their services or products.

Manufacturer’s Direct Model

The Manufacturer’s Direct model is simply buying directly from the manufacturer. If your business manufactured a product, consumers would go right to your website to purchase and customize, rather than outsourcing to a seller (example: Dell, which allows customers to customize the computer to their needs).

Subscription Model

More and more online publications, like The New York Times and Wall Street Journal, are moving to subscription based business models. Basically, readers pay a monthly amount to get full access to the business’s content.

Subscription services, such as Dollar Shave Club, are also becoming hugely popular. These services allow customers to get a product delivered to them on a regular basis so they don’t have to remember to buy it.

Sweepstakes Model

A sweepstakes business helps other businesses grow through by creating sweepstakes for them. For example, if you run a sweepstakes business, you could help a local catering company run a sweepstakes in which customers exchange their email address for a chance to win a catered dinner.

Most companies don’t have the knowledge, manpower, or technology to create a sweepstakes, which is where your business comes in. Franchises like Sweep Surge make it incredibly easy to build a sweepstakes business.

Web 3.0 Model

Most people are less familiar with the Web 3.0 model. A step up from Web 2.0 (or the Social Web), this model relies on collecting as much info about consumers as possible (like online activity and purchasing history) and aggregating it to create a personalized buying experience.

Although it’s new, places like Amazon and their suggested products feature and Facebook’s ads setup are taking a stab at it. The challenge of creating this type of business is that you need to have a huge number of users in order to gather any meaningful amount of data.

Internet Business Ideas

Now that you know the different types of online business models, let’s dive into some potential internet business ideas. This is by no means all of the possibilities, but these are some ideas to get you started.

Web Design

If a business has no website (or a terribly designed website), it can really hurt business. Essentially, every business needs a website.

So why not start a business to provide websites?

If you want to build deep, technical websites, you’ll probably want to learn coding an the variety of website building platforms available, such as WordPress or Joomla.

However, it’s increasingly possible to design outstanding websites for businesses using services like Squarespace or Weebly, which make it possible to create sites with no knowledge of coding.

And if you’re good at web design, your own website is the best place to showcase your talents.

Affiliate Marketing

Forget what you think you know about affiliate marketing. You might have heard people say you will work 10 hours a week while making $30,000 a month.

Maybe some experts do that, but they’re outliers.

However, you can make a living from affiliate marketing, but it will take work. As mentioned above, affiliate marketing is basically a referral program. So, knowing that only a fraction of your referrals will lead to sales, you’ll need lots of referrals.

Lots of people do this through blogging. They drive traffic to their website by writing content people want to read, then link to products within their affiliate program.

Social Media Management

Many businesses aren’t sure how to market themselves on social media, which means there’s a huge need for social media managers.

Marketing is moving away from simple ads to social interaction and engagement. So if you can learn the tricks of social media management that lead to more sales, then you’ll be in a great place to create business for yourself.

And it’s not all about pulling traffic to your clients’ websites. It’s about helping a business converse with their customers to create a long-lasting bond that will, in time, lead to more sales.

If you have a smartphone and some time, you can easily get into the social media management business.

Virtual Assistant

Being a virtual assistant (i.e. work-from-home assistants) is another business opportunity that’s in high demand. As more and more businesses move toward remote workforces, the need for virtual assistants is skyrocketing.

If you start your own VA business, you can offer services like bookkeeping, marketing, scheduling, website management, and anything else your traditional assistant would do.

Or you could simply focus in on one of those skills and become an expert at it, meaning you could charge more for your services.

Freelance Writing

If you can write, you might have a future in freelance writing.

It involves everything from writing advertising pieces to writing technical articles to simply creating high-quality blog posts. Businesses are increasingly relying on content to demonstrate their authority, and if you’re a great copywriter, you may be able to take advantage of this growing demand.

If you can learn about a topic quickly and write about it clearly in a easy-to-read way, this might be a good business idea for you.

How To Start An Internet Business

Alright, now to the fun stuff. Here are the general first steps to starting an internet business.

No Demand, No Business

One big mistake many entrepreneurs make is starting a business without seeing if anyone even wants what their selling.

If there’s no demand for a product or service, why start a business centered around it?

Start with finding a potential market. Find the need first. Here are a couple ways you can do that:

  • Browse specific forums and ask people about their problems (which you can then solve by creating the right business). For example, if you were in a small business forum, you could ask business owners if they have trouble getting new leads. This would indicate that a franchise like Sweep Surge could be a big service to these people.
  • Figure out what people are searching for on the internet and see if a lot of other businesses exist in that problem-solving area. A simple way to do this is to go to Google Trends, which will show you the various things people are searching for on the web.

Create A Website

Now that you’ve picked your business model, your market, and your problem-solving product, it’s time to bring that all together on your website. If you’re going to get new customers, you need to be able to point them to your website.

The best thing to do is to keep it simple. Navigating your website should be easy. If it’s overwhelming or confusing, people will close out of your website and never return.

Make sure that it’s really clear what your business does. Create a services page which spells out everything you can do to help customers. Also, make it very easy to have people contact you. Make your phone number, email address, and social media presence easily findable.

Wrapping It Up

Like we said at the beginning of this article, to be a successful entrepreneur, you don’t need to go anywhere but to your computer.

Heck, stay in your pajamas all day. Your customers don’t know, and honestly, they don’t care. As long as you keep selling them what they need.

The opportunities are everywhere. You don’t even need a lot of capital to get started with many online businesses.

But you do need to get started.

So what are you waiting for?


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Considering the Health and Safety Implications of Big Changes in Your Workplace

Any change that you make in the workplace is going to have wide sweeping changes that need to be taken into consideration before you make them. For example, if you’re going to add new machines or a powder coating booth to your manufacturing business, then have you considered the type of equipment or training that your employees need in order to utilize these new tools and machines to their fullest? It sounds like common sense and it should be, but not every business seems to care about the health and safety of their employees especially when new machinery or processes are involved.

This article is going to be mainly focused on industrial workplace where health and safety is a huge concern, but there are going to be a few talking points that also apply to even those working in offices. Without further ado, let’s take a look at some of the health and safety implications of big changes in the workplace and what we can do to reduce them.

Large warehouses and manufacturing plants are prone to accidents if you aren’t keeping employee safety in mind. 


Introducing New Equipment

When you add something new to your business, are you letting your employees know about it and teaching them how to utilize it correctly? For example, when you add new industrial process filters as part of your factory’s filtration system, are you giving your employees and foreman access to the manual and other important notes? Are you training them on its use and maintenance? Something important to health and safety like a filtration system needs to be fully understood even before its installed so that your foreman and managers can give their opinion on its use and how viable it is. If you don’t consult experts before making such a big change or if you ignore their warnings, then you could end up putting someone at risk.


Adequate Training of New Staff

Whenever you add new staff to your workplace, it’s important to train them sufficiently. It’s not just about training them to understand the machines and processes involved but also training them on your company’s workflow and any additional quirks that your staff might have in how they perform their tasks. This is going to vary from company to company, but let’s give a simple example to help illustrate this. Imagine that your staff have their own way of distributing safety equipment that is used for construction purposes. If your new recruit isn’t aware of how to receive their own safety gear from your inventory, then they’ll either hold up their work or they might be foolish enough to work in a dangerous environment without even considering the safety implications. It sounds unlikely for someone to do dangerous work without safety equipment, but it is your responsibility as the employer to oversee these things.


Final Words

No matter how big or small you think a change in your business is, it’s important to focus on all of the potential failure points and issues that you might run into.

Can You Still Grow Your Business Despite Brexit?

When many entrepreneurs are still trying to figure out the threatening consequences of a hard Brexit, there is no doubt that the British public is beginning to measure the dangers of a post-Brexit situation where no EU worker is left to help. The NHS is already in a crisis, and we know for sure that the decrease of medical EU staff has significantly worsened the emergency. But 20% of restaurants in the UK are at risk of going bust, without mentioning the numerous startups that have received EU funding to survive. Nevertheless, if you run an already established business, it’s essential to plan strategies to grow your company during these dark times. Weaker business structures are likely to close down during the Brexit transition phase. Therefore business growth appears as the most viable solution for the survival of your company. As an entrepreneur, it’s crucial that you protect your assets from the potentially damaging impact of leaving the EU market.

Dublin has become a major EU business hub


First things first: Tech is the key to your future

In times of uncertainty, investing in the right technology can be an absolute game-changer, as it’s the safest way to improve your productivity, increase your profit, and streamline your internal structure to gain a competitive edge. Your choice of tech investment begins with a thorough audit that needs to review the gear available in your business and compare it to your everyday needs and known issues. There might be elements that need to be replaced or updated, for instance. But these items will only need to be changed to maintain alignment with your business strategy. Finally, consider the cost of training and IT support for each tech solution, and espêcially how it compares to the gains you expect to make with the new technology.


Leaving the EU means you need new trading deals

Admittedly, technology is not sufficient when you consider the potent $22.7 billion trade hole from a hard Brexit. Whether you work in the automotive, consumer goods, healthcare or tech sectors, every industry branch has an annual project decline of several billion, with a drop of up to -22% in export for car manufacturers. So, as an entrepreneur, you need to research new trading partnerships. You can just accept the Brexit threats, but instead, it’s time to sit down and ask yourself: How can I export my products overseas? There are trades in the pipeline with China and the US already, so now’s the best time to check the logistic side for those.


Can you stay in the EU nevertheless?

However, preparing for Brexit doesn’t mean that you have no option but to exit the EU. In fact, whether you’re using the UK as a point of entry into the EU, or whether you’re a British entrepreneur, you can follow the examples of major American big players such as Google that have moved to Ireland. The Republic of Ireland is not only a tax haven, with only 12,5% corporation tax, but it’s also a cost-effective way to remain in the EU while running a competitive business.


If you’re still worried about growing your business despite Brexit, a combination of smart tech and effective trading deals is essential. But companies that want to maintain their EU partnerships can choose Dublin as their new business hub.


Go Back To The Future With Manufacturing

A couple of years ago, it seemed as though every business in the manufacturing industry was eager to stop being an analogue machine in a digital world. There were a huge variety of ideas and concepts that were set to take manufacturing into the future. These days, those concepts seem to have come to a standstill, and that’s a problem because if the manufacturing world doesn’t change and evolve soon, it will ultimately perish. At least, a number of small manufacturing firms will cease to exist. So, what steps need to be taken to bring the manufacturing industry back to the future?



Going Green

Manufacturing isn’t the most inefficient business on the market today, but it’s certainly not the least either. As such, changes do need to be made in this area. One of the issues of manufacturing is that you are constantly playing with a massive number of materials and using heavy materials that do, on some level, damage the planet. It’s a problem, but not one without a solution. There are plenty of ways that a manufacturing firm can be set up to be more eco-friendly.


One of the possibilities would be to use the waste products that are being produced. If one of the main materials used in your manufacturing firm is wood, then you will have a heavy supply of wood chippings. These can be crushed down to form a biofuel that can then be sold. As such, you can get a double benefit of going green and gaining a secondary income source.


Faster And More Effective

One of the biggest issues facing local manufacturers right now is a slow down in production rates. Companies are constantly looking for businesses that can produce products at a faster rate and make sure that they do not have to face a delay when waiting for a product. Well, that won’t be the case if you invest in the latest equipment from suppliers like Mills CNC. Companies like this are constantly producing CNC machines that can make products faster than before without any delays. It’s exactly what you need to keep in mind when you are expanding and growing your manufacturing firm.



You might also want to think about what processes you should be completing in your manufacturing business. Perhaps right now you are creating a product from scratch to reach the final point when it is ready to be sold on the market. But is this the fastest and most effective way to make a profit? A lot of manufacturing companies today are starting to realize that specialisation is a better business model. By doing this, your firm focuses on completing one process in the entire production. Fewer machines are used, less energy is needed, there’s limited amounts of waste, and you will be providing a vital service that companies on the market desperately need.


We hope you can see that manufacturers do need to start looking at ways to reshape and reinvent this industry. Or the entire sector could come tumbling down.


Best Practices For Your Warehouse

In order for your warehouse to be as efficient as possible, there need to be a few best practices in place. These should be carried out by each and every one of your employees who has some responsibility in the warehouse. They ensure that things can continue to run smoothly and that there is never any hold up in shipping any deliveries and orders.

Take a look at these following best practices to see which ones you need to utilize in your warehouse right now!

So this happened… 😂😂 #warehouse #wearegettingracking

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Use Shipping Notifications

As soon as an item leaves your warehouse on delivery, you need to send out a notification to the buyer. This shows them that their item is on its way and can also give them a more definite delivery date. Similarly, it’s also a good idea to set up notifications for when your own orders are on their way to the warehouse. That way, you can be ready for when your new stock is delivered and you can have all hands on deck to help sort it out.

Carry Out Regular Inventory Checks

It is also crucial that you regularly carry out inventory checks and stock takes so that you always have a clear idea of what you have in stock and what might be running low. That way, you can always place orders before you run out completely and aren’t able to fulfil your own orders to your customers. There are a few different pieces of software and computer programs that you can use to help you with all of this. You can find out more about the best ones at

Store Goods Efficiently

It’s important that you store all of your goods correctly so that none are damaged during storage. Using the racks available at will help you store all of your items so that they are all visible. They can also help you keep everything spaced out enough so that nothing ends up crushed or squashed. It’s also necessary to track the temperature of your warehouse if you store fresh food or other perishable items. That way, it will always be at the optimum temperature for storing your goods.

Retrain Staff

Whenever you get any new recruits working in your warehouse, you will need to make sure that they go through sufficient onboarding training so that they know all about your company’s warehouse best practices. But it also makes sense to retrain all of your employees on a regular basis as well. That’s because it will help them continue to work efficiently on a day to day basis. Not only that, though, but it also helps to refresh their minds about health and safety practices. Ideally, you should hold some training sessions for your staff every six months or so.

Hopefully, all of the great tips above will help you improve the best practices in your warehouse. And by doing so, your company can maintain its efficiency and profitability for the coming years!

Build Or Buy? Finding Your Perfect Office


The time will comes at some point in your business life where you will look to move from your home to an office. Deciding whether to buy an office, rent a space or build your own premises is a decision which can be difficult and will take you a lot of time.


Although renting an office might be the cheapest idea to start out with, you will not have the control over the space so if you ever want to extend you cannot. Buying an office or building one gives you full control over the premises and allows you to make it into your own unique space. But which is better?



It is pretty obvious that buying an office space is cheaper than building one from scratch. When you buy a building you will have to pay fees for solicitors, damage reports, the mortgage and all of the other taxes involved. When you build an office you will have all of these costs plus your construction costs. You will need to pay for the framework of the building, which will either be Armstrong Steel or wood: the electrics and plumbing and then everything else inside. Once this is all paid for you will have a long wait before the building is finished, so if you are looking at cost alone, buying is better.


Your Unique Needs


Although buying a property is much more cost effective for you, the building you buy may not fit your requirements for business so you may end up rebuilding some of the structure anyway. In this case, you may be better off hiring an architect to plan your perfect building including everything you need to run it effectively. It will take longer however you can be sure that you have everything you need for your business to run smoothly.



If you do build your own office, you could benefit from building the premises much bigger than you need for your own operations. Once the building is all done you can rent this extra space out to another business and earn income from the rent they pay for you. It will make the most of the space you have as well as pay off some of the building costs you incurred in the process. You could even rent out small offices to multiple different people and companies to make even more money from rent. This will be a great way to earn extra for your business to grow and develop.


Tax Benefits

Depending on whether you build your premises or buy it, you may be eligible on some cases for certain tax benefits which you would not get with renting. This is due to the fact that the investment you make for building or buying an office building could result in a large number of new jobs for people in the area. The local council will look favourably on this and will likely reward you with certain benefits. It may be worth checking if your local area offers these benefits, as it will affect your decision.

Bringing An Inefficient Business Into The 21st Century


If every business on the planet were eco-friendly, the world would be a better place. Not only that, but the economy would boom as companies tend to save millions in costs. Sadly, some firms aren’t efficient powerhouses in the green industry. Mining companies, power stations, and petrol stations are inherently bad for the environment. Plus, their entire existence is based on extracting minerals from the Earth’s surface. How are they supposed to change now? If you are a leader of an inefficient company, the thought of going green can be terrifying. But, it shouldn’t be because it is feasible as long as you make the right moves.


Start Small

People may laugh this off as insignificant, but nothing is arbitrary regarding the planet. As ASDA says, every little helps and nothing could be truer for the environment. Carbon dioxide pollution is at an all-time high, as is plastic pollution, yet experts recommend recycling at home. If homeowners can make a difference, so can business owners. Changing to energy-efficient light bulbs and lowering energy usage shouldn’t be underestimated. Not only does it make a difference but it also creates a positive mental attitude which may last for the long-term.


Invest In new Opportunities

The old ways may be set in stone, and there is nothing you can do to change the past. But, technology is rapidly changing the future and the way the world does business. Who would have thought oil companies were bothered about the environment? No one, yet Exxon Mobile invested $100 million into biofuel research in 2009. Critics point out it stopped rather abruptly, yet industry leaders such as BP followed suit. British Petroleum is seen as one of the pioneers of low-carbon tech. As humanity advances, so do the opportunities to help Mother Nature.



Use Legit Partners

Don’t forget about the supply chain as a whole. Inefficient companies need the help of others if they want to change their ways. Think about Gas Oil Drums UK for a moment. This company delivers commercial fuel to its suppliers such as petrol and power stations. How can an oil supplier help with the green process? Well, it itself may use eco-friendly measures to reduce the firm’s carbon footprint. Also, the bosses could invest in new tech which aims to phase out potentially deadly methods. The supply chain is like the food chain: as one link breaks, it affects everyone else in the sequence.



As a leader of a non-green company, there will be a perception that you don’t care. To make a point, only the CEO of Shell has stated publicly that both parties can find common ground. By admitting there is a problem and your business has a role to play, it is possible to find a compromise. It might not be enough for some people, but they will never be happy. As long as you commit to reducing greenhouse gases and lowering pollution, the majority should be satisfied.


Do you think it’s possible to turn an inefficient business into a green one?


If Your Business is Stalling, Get Inspired

No one enjoys being in a situation where their business is stalling and failing to hit the heights that they know it’s capable of. If that sounds familiar to the situation you find yourself in right now, the way to get yourself out of it and get your business back in first gear is to get inspired. This might not sound like the most obvious plan of action, but it will get your creative juices flowing and provide you with the kind of motivation you need. Read on to find out more.


Look to All Around You For Good Ideas

Too many business owners make the mistake of thinking they’re better than those around you. Even the most lowly employee can come up with ideas that you would never have thought of, so don’t rule out looking for ideas and inspiration from the people around you. You’ll probably end up being pretty surprised by just how much you learn from them, so keep that in mind.


Head to an Ideas Conference

Conferences come in all shapes and sizes, so they’re hardly uncommon in the world of business. If you want to get some inspiration from people who really do know what they’re doing, don’t rule this out. You can sit and listen to people while you take notes, and you just make come out of the conference energised and excited by the ideas you learned about.



Take Inspiration From the Success of Others in Business

There are plenty of other business owners have found success in their careers, and they’re the people you should probably be looking towards when it comes to finding inspiration. People like Michael Burry often inspire people working in finance. And they’ll be a success story that you can take inspiration from in your chosen niche too, so start giving this issue some thought.


Remove the Things That Are Holding You Back and Distracting You

We all have lots of things around us that distract us and stop us focusing on the things that matter most in our careers and business lives. You should take steps to remove the things that you feel are holding you back and stopping you from filling your full potential. There are no excuses for failing to do this, so it’s all down to you and your actions.


Question Things You’ve Never Really Questioned Before

Assumptions can be damaging if they’re carried forward unquestioningly for too long. It’s not in your best interests to not question things that really ought to be questioned. You could inspire yourself by finally discovering that all the things you thought hold true are not necessarily true at all. It’s these kinds of moments that inspire invention and new ways of thinking.



You’ll be surprised at how a little inspiration can go a really long way to helping you turn a negative situation into a much more positive one. Once you’re inspired and raring to go, nothing will be able to stop you and your business from major successes, so get to work.

Futureproof Your Technology Investments In Three Steps


Technology is supposed to be something that makes our lives easier – but get it wrong, and it can cause untold headaches as well as potentially damaging your business. For under-staffed start-ups, having the right technology in place can be absolute game-changer – pushing up productivity, increasing profit margins, keeping you organized with limited administrative support and allowing you to gain a competitive edge and serve your customers better. But how do you make sure that you give the right decisions when you’re setting up? Technology is the one thing worth investing in – but you need to get it right. Here’s how to do that:


Make a Technology Audit

Start by knowing what tech kit you already have in the business. It may be that you’ve collected in piecemeal as the company has developed and there are lots of incompatible operating systems and pieces of kit. How well is what you have currently serving your business? Could it be adapted for other uses? What gaps are there in the technological capabilities that you now have? You don’t need to replace everything at once. Try categorizing things into ‘works but needs improvement’ ‘not fit for purpose’ and ‘fine for current use.’ Do your research on what new systems for small business are out there – sometimes it’s hard to think about what new solutions you could be using if you aren’t aware what’s available. Think about the processes you do as a business and what could be streamlined or made more accessible to allow you to focus more on delivering excellent customer service and expanding your business. Business areas such as communications, databases, order tracking software and accounting are often where you can make the greatest gains.


Futureproof Your Tech

As a big-ticket purchase, it’s only smart to consider future needs as well as current when paying out for new tech. Use your projections and business plans to get a picture of where you are likely to be in a couple of years’ time – will this current solution still serve you then? How easy is it to upgrade capacity or integrate with new systems? If you have engagements and customer meetings all over the place, is it better to invest in tablet computers and use Wi-Fi to access cloud systems wherever you go rather than paying to upgrade desktop PCs? What systems are there specific to the industry that you operate in that other companies are using successfully? It’s also worth investigating refurbished hardware. A lot of larger companies upgrade every year, meaning you can get nearly-new technology for a fraction of the price of out of the box – check providers such as before buying new.


Get Support and Training

It’s no good spending money on new tech if no one knows how to use or maintain it. Consider hiring in specialist IT support on a temporary basis to troubleshoot any problems and make sure everyone is up to speed on the new systems. Have training manuals produced in-house that can be referred back to in case of any future complications? And make sure you are signed up for alerts on any security patches or upgrades that become available so you can stay ahead of the curve and keep your tech as up to date as possible.


Ruling The Roost – Money’s Impact On Your Business


When you own your own business, you will start to hear about various things that are meant to be “king”. For instance, content has been “king” now for the past couple of years. At least, that’s what people are now saying seeing as content is such a big influencer and is one of the best ways of attracting as much traffic to a website as possible. There are also some entrepreneurs out there who would argue that it is in fact the customer who is king. After all, without plenty of customers, your company won’t be able to make enough sales to break even and go on to make the profits that your company needs to survive.


These are true, of course, that customer and content are both really important to a business’s success. But are they really king? I would argue that there is something much more important in the corporate world that controls a lot of what entrepreneurs and CEOs do. It’s so important that it even dictates various aspects of how a company is run. You’ve guessed it; I’m talking about money. Money is the true king of business and is, ultimately, what rules the roost.


Here are some of the many reasons why money is ruling your business and how it has a huge impact on everything that you do.



Can’t Get Started Without It


First of all, there is no way you will be able to go about setting up your own business without any money behind you. The majority of entrepreneurs and startup founders have some sizeable savings in their bank account that they can use to fund their new company. However, this isn’t always possible for some people. Thankfully, that doesn’t mean that you need to resign your corporate dreams to the dustbin, though. There are plenty of ways you can get the finance you need. You can see about finding an alternative finance provider if you don’t have such a good track record with credit. However, if you think that you will have an easy time getting some credit or financing, you can visit your nearest bank and talk to the bank manager about getting a business loan. If you are feeling really motivated and are completely committed to your business idea, you should consider setting up a Kickstarter campaign as a way to help raise your funds.



Your Budget Is King


When managing your money, it’s really important that you put a budget into place. This will help you get a good overview of your company’s finances and complete financial situation. Sure, your money might be king of your company but this budget is the overall ruler of your cash! Without it, there is no way you would be able to correctly allocate your funds or spend your money in such a way that wouldn’t bankrupt your company. If you don’t have a head for finance, there’s nothing too much to worry about. Just hand your budget over to your financial department or accountant and they will take care of all your cash management for you.


Employees Want Your Cash


You will probably need to employ a team of workers to help you and your company achieve all of your goals and targets. This is especially important when your business is going through a period of growth and development as you will need as many hands on deck as possible to increase the size and productivity of your company. There’s just one problem with employees – they always want your cash! There’s no getting around the huge expense that employees will have on your company, but this is one that you will have to simply take on the chin, I’m afraid. When you do start hiring a team of staff, don’t forget that you will also need to budget for their sick and vacation pay as well as monthly payments into their pension plans.



Investments Prop Up Your Company


Once you do start making a profit, you need to think about what you will do with all your money. You could just leave it in the bank if you want, but that won’t see it grow as much as it could if you invested it. Bank accounts these days have very low interest rates attached to them. That means that your money in the account won’t get quite as much interest added onto it each month as you might like. So, it’s a good idea to look for some investments which will see your money grow a lot more. For instance, you could invest your cash in the stock market or in other business funds. However, it’s always important to remember that investments aren’t always as safe as bank accounts. Sure, there is a good chance that your money will grow and increase in value, but there is also the risk of losing some of your money if the investments lose value. Some investments are safer than others, and you might want to start off with the safer options if you are totally new to the investment markets.



Cashflow Makes Or Breaks Businesses


Once you start receiving payments from clients and paying your own invoices and bills to your suppliers, you will have to manage your cash flow. Cash flow is just all the money that is coming into and going out of a business. In order for your business to keep on top of all the bills that come your way, you need to have a good cash flow. So, you need to ensure that there is always cash in your bank account that you can always use to pay your bills. If not, then these bills and invoices might go unpaid for some time and you could end up incurring fees for late payment. These fees are just excess costs that your company could really do without. If you find that you are struggling to control your cash flow, it’s worth speaking to a corporate financial advisor for some useful tips and helpful pointers.  



Expenses Pin Down Your Profits


All businesses have expenses, there is just no getting away from them. But that is no bad thing. In fact, it’s important to have some expenses on your books so that you can bring down your overall annual profits of the company. This will then reduce the total taxable profit you make. That means that you can then lower your yearly tax bill. In some cases, entrepreneurs are able to drastically reduce the amount that they have to pay in tax each year. There is a whole host of different expenses that you can claim for your business and corporate tax. If you aren’t entirely sure what counts, you should speak to your accountant about it.


There’s Always Room To Negotiate


When it comes to finding new suppliers, you should always try and negotiate a better price for their products or services. Generally speaking, the price that they first offer you isn’t going to be written in stone. Most companies and organizations will be willing to discuss the price that you will end up paying. You should also remember this when you start hiring staff. New recruits might not be happy with the wage or salary that you first offer them, and they might want to negotiate with you. You should be open to these kinds of salary negotiations. Otherwise, you might end up putting off some great recruits from wanting to work at your company.



Never Forget About The Annual Tax Return


Your business will have to pay tax to the tax man each year. This is something that you really can’t forget about. Otherwise, you could end up receiving a very big fine through the post. In some cases, not paying taxes after a few years will result in jail time. So, make sure you always stay on top of your tax return. Thankfully, this is something that can be easily outsourced if you don’t think you can handle all of this on your own. An accountant will tell you all the paperwork and documents that they need in order to file your tax return. They will need to know your yearly expenses as well and will need evidence of all of these. They will then go and do their thing, and in a few weeks or so, they will have figured out how much your company needs to pay to the tax man. It’s also important to remember that you will need to pay your own personal tax on top of what you are paying for your company. Of course, the amount of company tax will have an effect on the final amount that you have to pay personally, as it will affect your personal income.


As you can see then, there are a lot of different ways money can take a hold of your business. But as long as you have a dedicated team of financial advisors by your side, you shouldn’t have too much to worry about.