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Online Accounting Software Small Business Accounting

Tips to Start a New Business from Scratch

Tips to Start a New Business from Scratch

Every business started from somewhere and that place is usually from the scratch. Some years ago, Microsoft, Apple, Oracle, Tesla and every other business you know today started from zero. All Bill Gate, Warren Buffet, Elon Musk, Oprah Winfrey and every other billionaire you know today has was an idea and passion. It is understandable that starting a business from scratch is a risk, but what do you really have to lose by not starting? Nothing right? Take a deep breath and skim through these tips and you’ll see reasons why you will succeed or fail.

  1. What’s the Problem You Are Solving

Every entrepreneur that has gone ahead to be on Forbes list today thought of a problem and started a problem to solve it. Brainstorm into a problem that needs to be resolved. Don’t stop there, look at the business side of the problem and know everything you can know about it. Obsess yourself with that problem, and you’ll see yourself thinking out business-oriented solutions.

  1. Start With Whatever You Have

Floating a business from scratch is not as difficult as it used to be 20 years ago. At your disposal are tools such as free accounting software that will help you manage your books. Don’t wait until you have a gargantuan capital base until you start that business. With tools like online accounting software for small businesses, you can kick-start the business right from zero.

  1. Know You Can’t Do It Alone

There are several tools out there such as MyBooks, MyStaff, and MyPlan at your disposal. Rarely will you find any successful business venture that did it all alone. It’s either they seek help from venture capitalist or angel investors. Steve Jobs couldn’t do it all alone at Apple, neither was Bill Gates. They all have partners and tools at their beck and call. Remember the popular saying, if you want to go fast, go alone. If you want to go far, go with someone.

  1. Research Your Market

You can’t be the first with the idea, someone is already doing something related. Knowing exactly what they know won’t set you apart. What will make you be the market leader is the hard work you put into researching your market and niche. Go deeper, not wider. Be thorough with your research. It’s better to focus on an aspect of your business rather than expanding early.

  1. Set Attainable Financial Goals

This is why you need to employ an online bookkeeping software from onset. Use it in creating financial targets for your business. A cloud accounting software that is accessible from anywhere will also make it simple in reviewing your financial plans. As a new business, you must always be ahead and abreast of your finances. It’s an aspect of your business that needs to be given a 24/7 attention via an online accounting software.

Final Words…

Of course, you are bound to make mistakes in the process of floating your new business. Don’t be discouraged, learn from your failures and move on immediately.

Categories
Online Accounting Software Small Business Accounting

How to Make Your Business A Great Place to Work

How to Make Your Business A Great Place to Work

After a long day at work, the adjectives usually used in describing the day is often; stressful, boring, tiring or even hollow. Work is seen by many as what they MUST DO, rather than what they enjoy doing. What many employers are unaware of, or somewhat unconscious of is how having happier employees translates to better results. Of course, many are aware of the importance of making their employees happy but are unable to do it. Follow the following tips to make your business the favorite of every employee;

  • Provide the Right Tools

There’s nothing as discouraging as not having the right tools to carry out task. No employee wants to spend longer time carry out a job that could have been carried out for a lesser time due to lack of working tools. Help your employees focus on what’s important with the right tools. For example, you can help your finance department with a free bookkeeping software to handle some cumbersome aspect of their task. Using a cloud accounting software will make them focus on what’s important.

  • Encourage Team Building and Leadership

Working in groups makes a workplace more lively and exciting. It avails everyone an opportunity to participate in the outlined task while not been left behind. You can even employ tools like myPlan to coordinate projects for your employees. This will give everyone a say and this, will help breed leadership skills in your employees. It’s more like giving them a stake in the company’s success and failure, make them feel they are part of it.

  • Cater For their Security and Well-Being

It’s not enough to hand them an accounting software for small business, you need to make your workplace calm, peaceful and soothing. No one will want to work in the midst of restiveness, ensure the workplace is safe and secure. If possible, there should be provision for insurance policies to cover work-related injuries. Depending on the size of your firm, there should be a first aid box or a medical team on standby. No one should be made to work under pressure or duress.

  • Offer Recreational and Fitness Space

Your employees will perform at their best when they don’t have to work from 9 to 5. In between working hours, 30 minutes of break to calm down should be encouraged and enforced. It should be a matter of compulsion for every employee to spend not less than 1 hour every week keeping fit. A physically fit employee will have a sound mind to deliver at their best.

  • Give Employees Reasons to Wake Up Every Morning

There’s a difference between earning a living and impacting lives. Let your employees know you are more interested in making profits as much as adding value to lives. This will give them a sense of fulfillment to wake up in the morning motivated to do their best. Everyone wants to work in an environment where they feel they are are blessing to humanity.

With all these implemented, your employees would rather want to be at work than anywhere else. It’s part of the motivational strategy employed by successful companies today.