Top Legal Tips for Setting a Successful Business

If you are considering setting up a business it’s a good idea to get the correct legal foundations in place as soon as possible and here are our 5 top legal tips for setting a successful business:

  1. Business Structure – The 5 most common business structures are: (i) a private company limited by shares; (ii) a private company limited by guarantee; (iii) sole trader; (iv) a limited liability partnership; and (v) a general partnership. The main determining factors as to which would be the most appropriate structure for you include: (i) which is the most tax efficient and you should consult your tax advisor/ accountant to get guidance on this; and (ii) which reduces the risks associated with running a business; and (iii) which structure is most commonly used/ recognised in your business sector.
  2. Terms and Conditions – It is important that you ensure that you have watertight terms and conditions in place if you are supplying goods and/ or services. The main points to consider in drafting your terms and conditions include clearly defining: (i) the goods and services you will be supplying so there is no scope for misinterpretation; (ii) the price and payment terms so that you know exactly when you will be paid and whether there will be late payment interest in the event payment should be delayed; (iii) any limitations and / or exclusions of liability; (iv) ownership of any intellectual property rights; and (v) under what circumstances the terms and conditions will terminate.
  3. Insurance – You should ensure that you have all necessary insurance in place to operate your business. If the business has any employees then you will need to ensure that there is employers liability insurance in place. It is also important to ensure that you have public liability insurance which covers damage to person and damage to property. You might also need to consider professional indemnity insurance and officers and directors liability insurance.
  4. Website – Many business have a website which is used to promote the business and/ or sell goods and services. It’s important that if you use a website developer to design the website that you have a website development agreement in place. A website development agreement should include: (i) a transfer of all intellectual property rights in the content of the website to you; (ii) an indemnity or guarantee that the website content will not infringe any third party intellectual property rights; and (iii) acceptance tests to ensure that the website works the way you want it to.
  5. Branding – A lot of businesses try to ensure that the limited company name, trading or brand name and also the website domain name all incorporate the same name. For instance my company is called Summerfield Browne Limited, our trading name is Summerfield Browne Solicitors and our domain name is www.summerfieldbrowne.com. It is therefore important before you choose your company name to do a search of: (i) companies house company name register; (ii) intellectual property office trademarks register; and (iii) the relevant domain name register, to ensure that your chosen name is available and that no one else is already using it. If you require any further information on business law please contact Christian Browne of Summerfield Browne Solicitors on 01858 414284 or alternatively email him at

Tips To Follow When Starting An Online Business

Internet has made easy for the people to start their online business. Irrespective of the fact the type of industry you are involved in, Internet offers you variety of ways to make money online. The major problem faced

Internet has made easy for the people to start their online business. Irrespective of the fact the type of industry you are involved in, Internet offers you variety of ways to make money online. The major problem faced by many people is not that which business to start on but how to sustain the business for long-term.

This is the reason that many Internet businesses start losing their focus after starting. You may find advertisements stating that it is easy to make money over Internet and all you require is a computer that is connected to the Internet. Thus people are jumping into online business without having a second thought. They have the feeling that getting into a business is very simple and they just have to be connected to the Internet and start making money.

An impressive website is not just enough to start an Internet business. It is a lot more than this. You should update the website regularly in order to attract more visitors. Here are few tips that you must go through when starting an online business.

  • Do market research – Various online businesses fall flat as their owners fail to do the market research properly? It is very important to analyze the market first before you start an online business. You should go through a niche of high demand with less competition. This will ensure the money keeps on flowing into your account. The simple way to achieve this is to do a thorough study on Internet marketing trends in real time.
  • Transform your offline business – If you are selling certain products in your offline business then you can transform it into an Internet business. This adds an advantage to your business as you are already aware of the products and their demands. There may be times when things are slow but you should be confident.
  • Learn ways to promote your website – Only performing market research and going through the product that you found to be of high demand will not bring the ultimate profits that you want. You should also learn various ways to promote your website over Internet and also to create unique contents in order to attract visitors. The visitors are your potential customers. Through search engine optimization you get your website ranked higher over Internet. There are various companies that offer SEO services and you should engage with them to boost up your Internet base. The main focus should be to stamp your business over Internet so that more people get to know about your online presence.
  • Maintain perseverance – When starting an online business, never think of giving up even if things are not up to the mark. Just like other businesses, you need to go through various challenges and obstacles to establish your business. Do not despair if you are struggling a lot to achieve your business goals. You just need to maintain your perseverance all the way. It is essential to keep a positive mindset towards your business in order to tackle the problems in a better way.

Following these tips will help you to grow your business in a proper manner and you will start witnessing the results immediately. You should never be afraid of facing the challenges. Be optimistic and start your online business.

Dos And Don’ts Of Running A Business

The goal to all business is turning a profit, but exactly how to do so is another matter. The truth is there are no real simple answers, but there are guidelines that offer the promise of success. Some things depend on the scope of the business, and what the business owner is capable of doing.

Good Habits for Profit

This is not an exhaustive list, and there will be many variations offered by different sources. The following will give a basic idea of ways get your business into the customer base building mode:

Putting the right gear in place: No business can succeed without the necessary implements of the trade. Computers and various types of meeting software are pretty much basic essentials these days. However, other solutions that are fast becoming must haves include web conferencing tools, smart phones and Internet based promotional tools.

The customer is always right: It may sound like a tired refrain to say that the customer always come first, but this adage is still true today. Always be willing to listen to your customers. And be prepared to go the extra mile for those that arent quite satisfied, that is, if you didnt deliver as promised.

Upgrade your skills: There is always something new to learn in just about any field. The smart business owner keeps abreast of changes in their area so they can keep offering quality service.

Network, network: There are so many opportunities for building vital links for your business. These include trade shows and expos, family gatherings and high school reunions. This simply means letting others know what you do in order to create your own opportunities.

Business owners can add to this list as they see fit. This is a useful guide that can serve as a springboard to profitability. Many businesses choose to promote themselves online as it is more cost effective. The boom in support software for customer support and smart phone use underscores the need for fast and reliable communications. Keep in mind that if you ignore the basics of good business habits, you can be sure your competitor wont.

Different Strategic Levels In A Business Organization

A business strategy defines the direction in which a business will take in the future. The business organization tries to achieve an advantage over the competition by the configuration of its resources within a confronting setting so that the needs of the market are met and the expectations of its

A business strategy defines the direction in which a business will take in the future. The business organization tries to achieve an advantage over the competition by the configuration of its resources within a confronting setting so that the needs of the market are met and the expectations of its stockholders are fulfilled. This is the overall definition of a business strategy. This focuses a business organization on which market it should engage in and the activities that are needed to compete in that particular market for the business to grow.

In making a business strategy, the planners need to determine how the organization can outperform its competition in a particular market niche. These are the advantages of the company which it needs to utilize, in order to gain the upper hand. In this connection, the right resources that the company can utilize should be gained, in order to maintain its competitive advantage. These resources will include the skills, various company assets, relationships, facilities and technical competence. As an organization plan how to manage its resources, it should also take into consideration the environment in which it is to operate. These are the external factors which can have an effect on the ability of a business organization to compete. Furthermore, the hope and values of its stakeholders should also be taken into account on the overall business strategy.

Though there is an overall strategy which a business organization enforces, there are different levels in a business setting where particular strategies are implemented. First there is the so called corporate strategy. In this particular strategy level, the focus is on the overall purpose and coverage of the organization to meet the expectations of its stockholders. This is crucial to the company since it has a great influence on its investors and guides the strategic decision making all through the company. A corporate business strategy is posted for all to see in the mission statement of a company.

Next in importance to the corporate strategy would be the business unit strategy of a particular business organization. A business unit strategy is mainly concerned with how a business can compete in its chosen market niche. The decisions which are the focus of attention in a business unit level are about meeting the needs of its costumers, choice of products, gaining advantage on the competition and the creation and exploitation of new opportunities.

The next level of business strategy which a business organization focuses on is the operational strategy of the company. At this level, the focus is on how each segment of the business can be systematized so as to give the direction to the business unit strategy. The consideration is on processes, people, resources and other such concerns. Various business organizations have their own strategies which they see are most advantageous to the company. They each implement safeguards to guarantee that strategic goals and objectives are met and vigorously implemented and followed by each member of the team.

Top Home Base Business Tips

Are you searching for a top home-based business? In this article we want to take a look at four things that every top home base business should have

Regardless of how you search it we are still looking for a business that can be run from home and what does it take to be considered a top business.

  1. First of all for a business to be considered a top home business it must be one that you enjoy working and a business that you want to get up and do every day. Businesses today are being run out of the home and considered a home based business, yet people do go outside of their home to actually do them because it is in a field they enjoy. Many small businesses such as electrical contractors, plumbers, heating and cooling contractors, and so on, can be run out of their home and yet be a top home based business. They start at home and end up in someone else’s home where they actually do the work.
  2. I’m sure you are aware people are using the internet to make money with their top home base business. The Internet offers so many different avenues for people to make money and run a home business that there really is no limit to what people can do if they put their mind to it.
  3. One of the criteria I feel a top home business must have is it must be profitable. A home business, regardless of the product you sell, has got to be able to create profit for you. Just because you keep your overhead down and your income requirements are low, does not mean you will earn money. Many people that do run a business out of their house go out of business because they do not make enough money to cover the minimum overhead they have.
  4. So for your business to show a profit is should sell a product people are interested in and spending money on right now. Many times when people get started this is overlooked. A top home based business is one that will have a product people are coming online and looking for right now. This should help you think about what comprises a top home base business by considering these 4 things. There are many other things as well, but for you to be successful it should be a home business that you want to get up and go to work every day. It should also offer a product that can create profit for you.

Tips To Successful Business Negotiation

Successful business negotiation can be worth a great deal to your business. It can mean the difference between securing a contract and losing a contract, and has the potential to be worth untold amounts of money to your business. Thus, its no surprise that negotiation skills are fundamental to being successful in business. Negotiation is relevant when it comes to closing contracts on favourable terms with suppliers, but also during the sales process, and in dealing with potentially profitable clients. For the business owner looking to close more significant sales, learning the basics of negotiation is critical, and probably one of the quickest ways of being able to establish a successful business.

The first thing to understand about business negotiation is that its all about give and take. Obviously when negotiating in business you are out to get the best deal for your business. But its important to understand that these objectives are mirrored on the other side of the table, and very few shrewd businessmen will be willing to allow such one-sided negotiation. Therefore its important to distinguish between what you must achieve and what you want to achieve, thus building in some leeway for giving in to the requirements of the other side. Mutual negotiation, on a psychological level, where it may appear that there has been some form of compromise, can have a significant effect on closing sales and negotiating contracts, and can leave the other party to the negotiation feeling as though both parties have got the best deal.

When involved in business negotiation, a key skill is to listen to what the other party is trying to achieve and to try to understand their personal motivations during the negotiation process. This can help you understand more readily what the other side of the table desire, to enable you to more effectively come up with suggestions that may help the deal through. Dont fall into the trap of forcing yourself on the other side. Listen to what they have to say, and put yourself in their shoes to understand their objectives before taking things forward. Its also a good idea to be relatively cagey in terms of what you desire, and revealing this too early in the negotiation process offers a key opportunity to the other side to negotiate a bargain at your expense.

Finally, negotiation is best conducted on friendly, personal terms. Its easy to create a positive relationship with the other party prior to negotiation, simply through the way you talk and interact with them in the pre-negotiation stages. At the end of the day, negotiation in business is very much about understanding other people and their motivations and desires. People respond better to those that they feel share a good personal bond, and for the limited effort required to achieve that bond its well worth it. Negotiation in business with someone youve already spoken to and shared a positive relationship with is much easier, and much more likely to produce a mutually beneficial outcome.

Experts Share 5 Networking Tips for Business Owners

As the calendar changes from summer to fall, its time to refocus your energy on your fourth-quarter objectives. One great way to do this is to build or rebuild your pipeline of prospects.

As Ive said many times, it doesnt pay to go solo, even if youre a “solopreneur.” One proven way to build your business is to reach out to people who can help you. In fact, thats what I did in order to create this weeks Tip! I got in touch with five colleagues who work with business owners and asked for their #1 piece of advice on networking.

Meet people face to face. By giving your clients a chance to connect a face with a voice, youll be more memorable than if you limit yourself to phone communication, says Michael Katz, a marketing advisor who specializes in helping solo professionals develop a clear niche. Commit to one coffee or lunch per week and youll have 50 meetings under your belt by the end of the year. BluePenguinDevelopment.com.

Get past “hello.” When you meet someone, ask questions that go beyond what they do for a living, advises Victoria Nessen Kohlasch, owner of a marketing consulting firm that helps companies build brand momentum to achieve their growth goals. Follow up the necessary introductory questions by offering the other person an opportunity to share a success story. “What wins have you had recently?” or “How did your last client find you?” will give them permission to recall a positive experience. Dont you suppose that will make you more memorable, too? NKAmarketing.com

Send handwritten notes. Even if youve exchanged thank-you emails, follow up with an old-fashioned note on paper, says Evelyn Starr, a marketing consultant who assists young brands that have stalled after their initial success. In this day of constant electronic communication, its a treat to get a personal note. It will also distinguish you in the contacts mind and signal that youre genuinely interested in building a relationship. EStarrAssociates.com

Take your social media conversation offline. Your relationship with a contact may start on a social media platform, but it doesnt have to stay there. When you find a person with potential to help your business grow, move the conversation to email, or better yet, meet up for coffee, suggests Suzan Czajkowski, who helps small businesses and nonprofits develop online marketing strategies. This will take the conversation out of the public eye and create a space for more productive interaction. TheCommCoach.com

Know when to follow up. Theres a balance between persistence and patience. Too little connection, and decision-makers will forget about you, but too much and your prospects may become annoyed. How to know what to do? Just ask them, says Caryn Kopp, a consultant who advises business owners on how to secure initial meetings with hard-to-reach prospects. Dont assume your contact will remember you a week, a month, or a year from now. People like to know theyre not the only ones investing time and effort at the beginning of a relationship. Kopp suggests the following questions:

  • What do you see as our next step?
  • Would a call or email be the best way to schedule time to continue our conversation?
  • I understand there isnt an opportunity right now, but when can I check back with you? Even if the current response to your overture is “no, thanks,” the situation could very well change down the road. If you want to be considered when the need arises, you have to stay in touch. KoppConsultingUSA.com With so many ways to stay connected in todays multimedia world, its disheartening how often we still manage to miss each others signals. But remember: No matter how busy you are, its worth your effort to keep track of people who can help your business succeed. For more suggestions on using networking to build your business, contact me.

Useful Tips for Low Cost Business Start Ups

With decreasing number of jobs and few solutions at work, the best suggestion to the people who face this problem is to start their own business. Although might be economic turbulence, but starting a business of your own is surely a path of financial recovery. There are few tips for the people who have a plan of low cost business start ups. Making a big investment is not always necessary. If you do not have such a great amount to invest, it is better starting with a small investment. Here are the tips that can help you in doing so:

  • It is good that you have planned to start a business of your own, but it is essential that you must be clear in yourself. You must be clear about your aim and must possess the answer of the question that why you want to start a business of your own.
  • You must be determined that what type of business you want to start with. Never ever think of doing investment in something that is new to you. Doing something like that is full of risks and you have to go blindly towards a direction about which you are not at all sure. It is essential that the business you are planning to start should be familiar to you. It should not be like hit and trial case.
  • Planning is most important in any business. Most of the aspiring business people believe that they have to sit down for hours and make a lengthy business plans clearly showing the amount of money that you will make in the coming years. There is no need of keeping such complexity as it will become difficult for you to understand. The business plan should be simple and precise.
  • Something that has great importance for any business is the customers. So, one should be clear with the customers that he as to target. Their preferences, thinking, liking, everything matters a lot to you. You have search everything about your target audience, what they like and what they do not like about the business that you are plan to start.
  • Prices are something that attracts everybody. It might be possible that a person do not have any interest in the product in which you deal, but looking at the genuine prices, he can start taking interest as he find it beneficial in one way or the other. Always compare your prices with your competitors and make sure that you are providing genuine rates, keeping quality at the topmost priority.
  • The next thing, which has importance of its own, is to reach your target customer through proper advertising and promotion. Advertising has great significance as it is the only way of telling people about your product, introducing them what it is all about and how your product is different from the other similar existing products.

It is good to follow such tips when you are new to a business and doing it for the first time.