8 Tips for Small Businesses to Avoid Liquidation

Smaller companies are far more exposed to liquidation, which is often due to serious debt problems, especially when the company has just commenced trading. There are ways an owner of a small company can avoid the likelihood of liquidation by using some basic debt management tips like the following.

Tip 1 Buy Used Equipment

A small company can get a step ahead quickly by purchasing second hand equipment. This could be anything from office furniture to computers to tools or any other equipment that is essential to ensure a successful start up. This can save a business 75 percent in cost terms.

Tip 2 Savings Should be Secured

An astute business person will always have personal savings set aside before venturing into business but these should only be used out of sheer desperation. If you need to put a little extra money into some enterprising aspect of your business which you know will be a success then you can always pay it back later.

Tip 3 Use Friends and Family

This depends, of course, on your relationships with the people around you, which are normally your family and friends. They may be interested in helping to finance you, especially if you have been refused backing from a financial institution. It is quite surprising how your closest contacts might have faith in your impending success.

Tip 4 Use Angel Investors

These are eager investors who will want to gain a share of your company if they provide equity for it and they may also want some operational control, too. There are databases on-line of people who have money available that they wish to invest in a viable enterprise.

Tip 5 Conduct Market Research

The greatest reason for company liquidation is lack of market research into the position of the product being marketed in the market place. Relevant market research provides notice of any pitfalls that may occur when marketing your product.

Tip 6 Keep up your Personal Income

It is not uncommon for those who are starting companies for the first time to still work in their usual occupation. This means they still have an income coming in while their business is establishing itself. It gives you a chance to build up a cash reserve, just in case you need it. Forgoing your job can take place once you start to reap reliable cash benefits from your business.

Tip 7 Be Frugal on Equipment Requirements

A small business may not require a full range of equipment straight away or even office supplies. Orders should be kept to a minimum until business picks up.

Tip 8 Be Flexible

A small company means flexibility is needed. For example, it may mean you find yourself storing your product at home or in a storage unit and then selling your product on-line. It is much harder to run up serious debts when you operate an on-line business as there is much less capital investment required. Expansion can be invested in if the business prospers.

How to Become a Business Development Executive?

A business development executive (BDE) plays an imperative role in the growth of a company. It is the job of a BDE to promote the product/service segment of the company. At some organisations, business development executives are also called sales executives. If you want to build a career as a business development executive, below career guide would ease your journey.

Some of the duties of a business development executive-
1) As a BDE, you would need to frequently interact with potential clients to establish new business relations.
2) It is the job of an executive to do market analysis. On the basis of these market reports, business strategies would be formulated.

Required education & qualifications
The stream in which you have completed your graduation doesn’t play a crucial role because students from all fields can apply for the job. Moreover, top-notch companies prefer to hire candidates who know two or more foreign languages. In fact, this is a kind of job where your soft skills would be more beneficial than your academic qualifications & degree.

It is advised to gain some good work experience in finance and management by pursuing a business-related course. If you want to work in a technical company then it is important to have some good technical background and sales experience in a particular field.

Some crucial skills
1) Excellent business knowledge
2) Good communication skills
3) Learner
4) Negotiable skills
5) Team player
6) Analytical ability

Scope of business development executive jobs
In the near future, there would be a great rise in the number of BDE job positions, especially in fast developing fields like online commerce and pharma. As more and more companies are vying for the online space, there would be a huge demand of business development executives who can help a company in expanding its online business.

The package
Typically, the salary structure of a business development executive includes basic pay and commission. The basic salary of a BDE can vary anywhere between Rs 2-3 lakh/annum. If you hit the target then you will also earn commission and incentives.

Where to look for BDE jobs in India?
The jobs are available throughout the country. However, there are few Indian cities, like Delhi, Gurgaon, Mumbai, Chandigarh, Bangalore, Chennai and Pune, where you can find booming job opportunities in diversified sectors. Various top-notch companies have opened their offices in these cities and therefore, there is a high demand of BDE in these areas.

The Basics of Small Business Branding

You own a small business and you’re doing well but recently you have noticed that your competitors have a slight edge on you. Wondering why? Chances are, it has nothing to do with your product or price – it’s the simple fact that they are more memorable than you. There are two ways that you can increase your memorability. The first is through advertising and marketing and the second is through small business branding and brand strategy. To learn more, continue reading this article. Today, we will discuss the branding basics and give you some need-to-know branding tips.

Before we discuss branding tips, let’s begin by discussing a simple question: what is branding? Think about small business branding as a definition of what the clients think your business is about. With a good brand strategy, you can easily differentiate your services or products from those of your competitors, giving you the leading edge. To clarify, let’s use a brief example. You wake up late one morning and if you don’t leave soon you will be late for work. You don’t have time to make your own breakfast but you do have time to stop for a quick drive through bite. As you are thinking about where to go, you suddenly hear “Badabababa I’m lovin it” play in your mind. Where do you head? Towards the golden arches!

Why did you choose McDonalds? You may think that it is because their food tastes great (and that can definitely be part of it), but doesn’t most fast food taste good? Most people do not realize that many of the decisions they make are based on branding. McDonalds has developed a great tag line that sticks in our heads. On top of that, anyone over the age of 3 knows what the golden arches represent. Small business branding, or the combination of a good tag line and a memorable logo, play a significant role in the success that McDonalds has seen in the past decade. By creating a strong brand strategy and developing your own tagline and logo, you too can see your business expand by making it memorable to your clients.

Let’s cover some cool branding tips to help you build a magnetic brand. First of all, there are many things that you can do to increase the successfulness of your logo and tagline. However, of all the branding tips available, there is one that stands out as the most important; small business branding alone is not enough. Once you have developed a brand strategy, logo, and tagline, you must follow through on your promises. If your tagline is “I’m lovin it”, you better keep customers loving it. You can do this through brand management. Brand management involves a great deal of things, each of which is designed to keep your customers happy and keep them remembering your brand in a positive light. Brand management can include things such as manufacturing a high quality product, keeping your prices reasonable, and providing high quality customer service.

If you own a business, small business branding will become a necessary part of attracting customers. By developing a brand for your customers, you will make your business memorable, keeping them interested and returning for more. If there is one piece of information that you should take away from branding tips it is this one; branding alone is not enough. You must also engage in brand management tactics to ensure that your brand is seen in a positive light rather than a negative one. Start developing a brand strategy for your business today and give your customers something to remember you by!

The Value Of The Service Business Development For Professional Services Firms

One of the basic requirements for business development is to assess the current market value, as is more related to the growth and maintenance of the company. To do this, providers of development services called business development specialist who will work with sales and marketing professionals to develop an effective strategy. This business strategy is based on the popular that the company already has in other areas of the clients.

Specialist business development will be sought for customer feedback frameworks customer care. These leaders will help the manufacturer of the strategy for collecting data from existing customers for their opinion on the company and its services. This type of action can often develop specialists to learn more effective ways to promote the company, which can replace the current marketing strategy and objectives more number of customers in the market where the company is already present. In addition, the acquisition of client statements by executives of the channel for customer care specialists assist business development to identify areas of the series of new products and develop a marketing strategy adapted to them. This strategy will lead to the rapid commercialization of new products and services later.

The role of business services development is not limited to an increase in sales and customer satisfaction. Even if these things come naturally in the development of the service, development strategy Maker is to ensure the best use of company funds, management and improve the functioning of various departments, and resolve legal problems that may arise to continue to grow. Many companies offer professional development of creative business strategy, the right to charge business information relating to all levels of corporate structure and use it to attract more customers.

Every little to the organization of large companies may choose to develop the company. It brings success guaranteed for all types of legal entity. Many companies have little time to have tried and achieved a solid record in their own sector. In most cases, companies were able to capture the targeted area and achieve growth due to the efforts of specialist business development. Thus, companies must focus more on development and leasing for professional development, if it seems impossible for them.

Corporate retain their own wing of business growth and development that will deal with all development activities. But small businesses can not afford to do so. Then they can apply to a development consultant to work for them. The consultant will help assess the current situation and develop strategies to bring business growth in the future.