Learning new stuff for better small business performance

You’ve had a brilliant business idea. Or you’re brilliant at what you do, your speciality. Either way it doesn’t automatically mean you’re equally adept at every aspect of running a business. You can’t afford to employ experts in the early stages. Perhaps you don’t want to expand, happy as you are, there’s nothing wrong with that. But unless you’re a superhero you’ll need to brush up in some areas and learn new skills.

Pinning down the grey areas

1.       Jot down a list of your business-related strengths and weaknesses  

2.       Look for patterns and group your blank spots logically: 

·         Administrative

·         Financial

·         Systems

·         Sales

·         Marketing

3.       Put your blank spots in priority order using your business plan as a guide, basing your decisions on what you want your business to achieve and when.

Delve into DIY online learning

If you want to learn it there’ll be a course about it online. Often hundreds or thousands of choices from a vast choice of suppliers including trusted quality stalwarts like the Open University. You can take your pick from videos, how-to guides, animations, interactive and distance learning courses and qualifications, from dummy to degree-level and beyond.

Lose yourself in real books and ebooks

If reading is your favourite way to soak up new information, Amazon is a reliable source of new and used textbooks and course books. There’s also a world of useful stuff available on Kindle.

Face to face learning at our city’s excellent FE college

City College Brighton & Hove runs an impressive array of professional courses for the business community. Their part-time courses in employment-focused subjects are perfect for sprucing up your skills and boosting your capabilities. Courses are taught by people with recent industry experience, with professional backgrounds and recognised qualifications.

Private tuition

Do you know an expert, or know someone who does? Would they be willing to give you tuition on a paid or barter basis? Or would you like someone to simply be there for you, answering tricky issues you come across in your e-learning, testing your knowledge ad egging you on? Private one-to-one tuition and support suits some of us better than classes or DIY learning. It depends on your personal preferences.  If you’d benefit from private tuition you could even ask around at our next Curry Club event.  You never know!   

Business training in Brighton and Hove

We’re lucky to have a wealth of excellent training providers in the city. Here are just a few of them:

·         Silicon Beach Training (www.siliconbeachtraining.co.uk)

·         Integration Training (www.integrationtraining.co.uk)

·         Achieve Coaching and Training (www.nlp--training-business.com)

·         The University of Brighton - Training and professional development (www.brighton.ac.uk/business/training/)

·         The Life Project (www.thelifeproject.co.uk)

·         Sussex Chamber of Commerce (www.sussexenterprise.co.uk)

·         Pitman Training Brighton (www.pitmantraining.com)

·         David Foster Associates Limited (http://www.davidfosterassociates.co.uk/)

10 Great Reasons to Outsource Your Payroll

1. COST
 Big businesses can afford to maintain big payroll departments. For small businesses however, an in-house payroll service is a money burner. If you calculate the hours your employees spend on payroll-related activities, plus payroll software costs, training costs, printers, printing and distributing payslips, creating tax documents etc, you could be surprised by the result when you compare that amount to the cost a  payroll service provider can offer.

2. RESOURCES
The payroll function can consume a large proportion of your staff resources, especially if the staff in charge of the payroll are not trained specifically to deal with it or have the payroll function as a smaller part of their overall responsibilities.  The benefits of  outsourcing the payroll include freeing up these resources allowing your staff to concentrate on more essential tasks.  You may even be able to reduce your staff's size. Outsourced functions also give you better scope for expansion of your company with scalable services suited to your business.

3. TRAINING
It can often be expensive to employ staff with the necessary training to operate a payroll system. For smaller companies where the payroll role is not enough to warrant a full-time employee, you may have to use your current staff to train in payroll as an additional responsibility to their core role. Your payroll staff will also need to keep up to date with the latest tax procedures and legislation.

4. EXPERIENCE
Certain types of employment can lead to complicated payroll structures or scenarios. It pays to have a wealth of experience at your disposal which is something you are unlikely to have with a small in-house payroll department. A good payroll service provider will know all the ins and outs of payroll-related tax  laws and latest government legislation.

5. SPEED
As payroll service providers are specialists, they can process even the most complex payrolls at a great speed, providing a quick turnaround time on your payroll when required.

6. ACCURACY
Payroll mistakes can be painful, upsetting and stressful.  A good payroll service provider is far less likely to make a serious error than your in-house staff, as you are paying them for their expertise, knowledge and finely-tuned checking procedures they have in place.

7. RELIABILITY
In-house payroll activities function as reliably as the people doing the work. With a payroll service, output, speed and quality won't vary in accordance with holidays and sickness. There is always a risk that you may lose one of the key members of staff that deal with your payroll and all their knowledge walks away with them. If this happens you could find it extremely difficult to replace them, causing a logistical nightmare come payday. You also won't have to spend time training new staff or helping them to understand your business's payroll system.

8. FLEXIBILITY
Many payroll bureaux can offer small  and medium sized business total payroll packages in which all your payroll requirements can be met. With outsourced solutions, these packages are often flexible to meet your specific business model so you don't end up paying for something that includes services you don't need or misses key features that you do need.

9. SECURITY
Do you have the time and energy to closely supervise your business's payroll for time and rate abuses and other shady activities?  Most payroll bureaux have technologies that can spot and alert clients to various types of payroll fraud, such as payment manipulation and 'phantom workers'.

10. WORRY-FREE
There's a lot to be said for the peace of mind that outsourcing payroll services can bring to a business owner or manager. No headaches, no hassles, no stress, no worries: You're left to focus on running your business knowing you payroll obligations are dealt with correctly, efficiently and lawfully.

Sussex Payroll Services

@payrollgirls

info@sussexpayrollservices.co.uk

Mentioning the ‘C’ word – 7 tips for a happy marketing Xmas

Should you advertise during the run up to Christmas?

Millions of British companies and organisations spend time and money jumping on board the annual Xmas marketing bandwagon. But is it always a good idea?  

It’s a bit like the Olympics, where everyone who was anyone came up with an Olympic themed special offer or marketing campaign. Did they all attract loads of new customers and inspire existing customers to buy more? No idea, but common sense suggests there must have been an element of Olympics marketing fatigue and the same thing probably happens at Christmas.  

Standing out from the crowd

It’s hard enough standing out from the crowd as it is. But when the entire crowd joins in it makes your marketing life much more of a challenge. Do you have the budget to spend your way to visibility amongst the noise? Or would you be better off lying low ‘til the new year, when everyone gets back to normal?

NOT driving people nuts!

It might turn out that Christmas isn’t all it’s cracked up to be in your sector, full stop. Some people get stuck in as early as September, but does mentioning the C word four months in advance annoy people more than it attracts them?

If you can’t find a logical, clear, practical connection between the stuff you sell and Christmas, is it worth bothering? If your offer or campaign is less than relevant to the season, which many are, will it have the right kind of impact or will it fall flat?

Waiting for better media buying deals

Many direct marketers stop sending out campaigns half way through October because their message just gets lost in the Christmas frenzy. And media buying often costs less after the festive season is done and dusted. It’s a matter of supply and demand: when demand is high, prices go up. In the new year, when demand is lower, it can be easier to find good deals on ad space and advertorials as well as negotiate free or cheap editorial.   

What about email marketing? If your inbox is anything like yours it’ll be filling up with Christmas messages already. Would it be better to leave it until the fuss is over and things have died down? Or can you make yourself heard amongst the rubbish? The same goes for your newsletter. Your customers and prospects might thank you more if you just wish them season’s greetings and leave it at that –what do you think?  It’s all worth mulling over first. 

Whatever you sell it’s worth bearing in mind that female target audiences are traditionally busier than blokes, more so the closer we get to the day itself. We’re supposed to be equals these days but buying gifts, decorating the house, sending cards, buying food and cooking tends to be woman’s work in the majority of households. If your target audience is females over eighteen, it might be safest to leave them to get on with it!

7 tips for a happy marketing Christmas

1.     Keep it real – if the things you sell have absolutely no connection with Christmas, think twice about marketing at this time of year

2.     If your media costs are going to end up higher than normal because of Christmas, do your sums. Will your usual response and conversion rates cover the cost? If response goes down, what’s the worst case scenario? If you think you’ll end up making a loss, step away

3.     Plan everything like a military campaign to maximise your chances, creating a dedicated Xmas marketing plan

4.     Choose your target audience/s carefully, establish what they do at this time of year (buy gifts, buy supplies, ignore the whole thing in a business context) and tailor your offers as closely as you can to their needs. It’s always important but even more so at times like this, when targeting might be your only real way to stand out

5.     Remember that benefits sell much better than features. Again it’s always important but it’s more important than ever at Christmas, especially for people buying gifts. When you’re buying a gift you often need more detail than when you’re buying for yourself. You want to make exactly the right choice and benefit-led communications do a much better job the feature-led. It’s no good telling people what the buttons on a gadget are. They want to know all the good things the button functions will do for them. Don’t say this gadget has a ‘go faster’ button. Say the gadget’s ‘go faster’ button increases your play speed by at least 50%

6.     Do unto others. Use your most powerful tool, your consumer head, to gauge whether you’d appreciate and enjoy the offer yourself. If you wouldn’t, tweak it until it sounds like something you’d be thrilled to receive at this time of year

7.     Make your message the best it can be – creative, funny, beautiful to look at, quirky, rude, compelling, awe inspiring… whatever it takes to cut through the babble

National Minimum Wage October 2012

The national minimum wage (NMW) is the set minimum hourly rate that UK employers must pay their workers. There are three aged based rates and an apprentice rate which are usually updated in October each year.

Almost all workers who work in the UK are entitled to the NMW, except self-employed people and children who are still of compulsary school age.

The rates from October 2012 are as follows:

Adult Rate (21 and over):  Increase of 11 pence to £6.19 an hour

The 18-20 year olds rate will remain at £4.98 an hour

The 16-17 year olds rate will remain at £3.68 an hour

The apprentice rate: Increase of 5 pence to £2.65 an hour

HMRC enforces the national minimum wage and if they find you have underpaid the NMW they will issue a notice of underpayment showing the arrears you must pay to your workers and possible penalties you must pay HMRC.  Does your payroll software flag up when employees rates are due to be reviewed? Check your employees' ages and make sure you increase their houlry  rates when applicable.

Sussex Payroll Services

@payrollgirls

info@sussexpayrollservices.co.uk

EC Sales List - Reporting EU Sales to HMRC

If your business is registered for VAT in the UK and you sell goods or services to VAT registered customers in other EU countries you are required to submit an EC sales list (known as ECSL or form VAT 101) to HMRC.

Why HMRC needs EC Sales Lists

The information you give on the ESL is used by the tax authorities in other EU countries. They use it to check that the businesses you've supplied your goods and/or services to are dealing with the VAT correctly.

The details are also used to build up anonymous statistics showing how goods are traded in the EU.

The same thing happens if your business receives goods from a supplier in another EU country. Your supplier also completes a similar sales list showing the value of the goods and/or services they've supplied to you.

EC Sales Lists - the basics

All VAT-registered businesses in the UK that supply goods to a VAT-registered customer in another EU country must provide HMRC with information about the supplies.

There is no threshold for ESLs - you must list every supply, no matter how small.

• You submit the details on what's known as an ESL.
• This contains details of:
• Your customer
• The relevant country code
• The value of the goods and/or services

An EC Sales Declaration

Goods

The ECSL is generally submitted quarterly, but businesses that export goods totalling more than £35,000 (excluding VAT) per quarter must complete an ECSL every month.

When you completes box 8 on their VAT return because you have sold goods to a VAT registered business in another EU country, the Tax Office will automatically send you an ECSL form to complete.

If you move your own goods to a branch or subsidiary of your business in another EU country, this movement is treated the same as if to a third party and will also have to be entered on the ECSL for that period.

The paper ECSL form must be submitted within 14 days of the end of the reporting period. You can also complete the ECSL online, and have 21 days from the end of the period to submit the form. Note that this deadline is well before the deadline for your regular quarterly VAT return

Services

If your business only sells services to other EU countries you can continue to submit a quarterly ECSL, but they can opt to submit monthly ECSL forms.  You will not have entered this sale in box 8 of the VAT return so there is no reminder that you have to complete an ECSL.

If your client moves their own goods to a branch or subsidiary of their business in another EU country, they may also have to complete an ECSL for that period.

Ann Hughes

@thevatlady

The VAT Lady

info@thevatlady.co.uk

Social Loafing

Why Social Loafing is good for small business owners  

You’re a contractor, a freelancer or a small business owner.
Are you missing out on having loads of colleagues, people who can pitch in, lend their expertise and dream up fresh angles? If you’re drowning – not waving – and you’re finding it difficult to cope with all the work, would having a team on the job mean you’d get stuff done faster, in direct proportion to the number of extra hands on board?

Not necessarily. We assume that when we’re joined by others, together we’ll work harder and become more accomplished. But in reality, research proves we don’t pull anywhere near as much weight in a group as we do on our own. Once we have willing helpers, we slack off and invest less effort because we know our work will be pooled. And we know we won’t be judged on our individual efforts, either!

Evolved behaviour

Social loafing isn’t conscious. It’s one of those unconscious behaviours humans have evolved, probably because in evolutionary terms there’s no need to knock yourself out expending valuable energy when the burden can be shared.

Blindfold tug of war

How do the egg heads know there’s such a thing as social loafing? In one experiment the psychologist Alan Ingham set up a blindfold tug of war, with one person at each end of the rope. When he told them they were part of a team, they pulled 18% less hard than when they were told they were alone.

You can read about more social loafing experiments in the book, ‘You Are Not So Smart’ by David McRaney.

Why’s it good for lone cowboys?

The strange phenomenon of Social Loafing works to your advantage. You can drop the notion that the faster you can grow and take more people on, the more efficient things will get. You do a fantastic job on your own. Well done! When you do expand your business, just remember to put some careful thought into the way you distribute tasks and share responsibilities.

That way you’ll get the very best out of everyone.

Reach the top of your own mountain!

As an active networker, I’m often asked to represent groups that are run and operated by someone else. “It’ll raise your profile!” is the usual reason given.  Although that’s not in question, have you ever wondered what it’ll be like to lead your own? Operating ‘third party’ groups is great and I would recommend it.  I’ve done so myself and what I learned in a short space of time has been invaluable. Running your own is an entirely different ball game! There’s no big ‘system’ to lean on and the ultimate responsibility is on you.

With a solid networking grounding, here’s a question:  Why not climb up and reach the top your own mountain?

My late father, a distinguished army officer in WW2, who fought alongside Lord Mountbatten and his troops to help liberate Malaya, (now Malaysia and Singapore), mentored me to lead. Until I started my own business, I hadn’t really considered that I was in fact more active than most in various leadership roles from a young boy, throughout my adolescence, (more in my LinkedIn profile), and into the business world. I’ll never forget his pride when I became Head Boy of a UK boarding school, despite my not being considered a top academic.  Heck, when I arrived at the school at nine years of age, I was the boy who had the “funny accent”, (the Couplands and extended family were – and our family ‘hub’ still is – based in Singapore).

The bar is constantly being raised. Expectations are higher. Effective leadership can be a great solution.

I have come to the realisation that, in order to make a real difference, great leadership has to be at the core of almost everything one does in the world of business. I have shared with those I coach in marketing that the bar was and is still being raised. People’s expectations in what a business person has to offer are higher than ever. Why?  Well, there are several reasons. The main ones are lack of time; ever increasing competition and what I often term as ‘noise’.

So what do I mean by noise?

The fact that we live in a busier, more crowded world is a given, so that’s not what I’m covering here. What I mean is I often hear fellow networkers claim that they’ll start something for themselves, however don’t really deliver – assuming they started in the first place!  Ideas are the easy part. Most can come up with great ideas so, to me, there’s nothing in the slightest bit exclusive about that.  Action and action with great results is an entirely different matter! Sure, there are and will be plenty of mistakes, disappointments and regrets along the way. Isn’t life about that anyway?

Being a leader should no longer be regarded as something one can aspire to be. In my view, it has never been so vital in the business world.

Ever presented in front of audiences that consist of your customers, your network and your competitors? I can tell you, it’s no mean feat, however seldom have I found such a rewarding experience. In fact, taking on the mantle such as this has so far been one of the best things we have done so far since I started my business. Great relationships and business that resulted exceeded our own expectations.

So whether it’s networking, a committee or your business, why not climb and be at the top of your own mountain? I’m not saying I’m there yet however, for me, one or two mountains aren’t enough, I’m climbing more and, although my legs can sometimes hurt like mad, there’s no way I’m turning back!

There are no “you have to’s!” here, I‘m deliberately being thought-provoking.

…and what about representing someone else? (I’m not referring to advocating here, which is of course a great thing to do). If you represent someone else, ever considered removing the billboard of him / her / their logo at events and representing yourself?  It could well be time to move on and, usually, the best time is when you feel you’re at your (or their?!) peak. Don’t just imagine being at the top of your own mountain, why not do something about it?  It’s called change and a change that should have an even better view!


Reach the top of your own mountain! It doesn't have to be the tallest

What I seldom see are people truly aspiring, taking focussed action at coming out of their comfort zone and at least trying to lead and carve their own way, representing themselves and leading – no matter how large or small the initiative.

Those that do get more respect through what they have achieved anyway and, even if they end up doing something else later, it’s most certainly not failure as they’ve climbed their own mountain, took a deep breath of satisfaction and took in the view.

 Now how exclusive is that?!

John Coupland
@networkerplus Social Media
www.networkerplus.net