How To Get More Sales part 1

How To Get More Sales part 1

Getting new sales is not easy. Sales leads do not often come to you. That said, be patient and follow some of our strategies and sales leads will come to you.

One way to get to the end conclusion is asking yourself how do you purchase a new service or product?
While they might not leave you with your answer it should help you a little. However, I doubt it will lead you to one way I got a sale recently...

I am certain there are ways to get new sales from SMM (Social Media Marketing) and SEO (Search Engine Optimization). I know, I've got sales from both. However, that's not the topic of discussion today.

Networking without networking events- Meeting people the old fashioned way!


This actually happened to me recently...

I went to fix one of my computers and the IT man who runs the local shop suggested that as someone who runs a media company I should contact web designers to see if they need videographers and photographers. I thanked him. I contacted friends and then business life took over and I worked on some projects and largely forgot about contacting the cold leads he'd mentioned.

Fast forward, I go back in. Another computer issue. I  then ask him about if he knows any leads. He thinks and then says ' Ahh, yes I do actually' and then he gets me the card and said that I should say 'M' recommended me. It worked a charm.

I'd like to say I planned that, but I didn't. I didn't need any Search engine optimization tips for that sale! Networking, outside of networking events, can get you sales. Think of some businesses you can use and see if you can get new sales in this unconventional manner. If you tell people you are starting out, or that things are 'slow' people often find a way to help out..Small businesses people in particular are willing to help each other out. They know what is like.

Be warm and friendly to your customers and your suppliers... they can pass on business to you. If they don't, throw in a line or two about your business when they ask 'How are you?'.
Give them your card, smile and keep upbeat. This can lead on to a discussion about your business and can give you a hot lead, without the need to pay a salesman!

5 Ways You Can Save Money on Contracts

5 Ways You Can Save Money on Contracts

1. Ask a lawyer friend to help you out in exchange for a favour later down the road or a charity donation
2. Look online for off-the-shelf contracts you can buy and then alter
3. Ask other business friends if they have any contracts you can use
4. Go to a law school/university and ask if anyone wants some experience if they can help you draw up a sample contract
5. Go to a networking event to meet people- and later email to ask about contracts- they might be able to help you out

 However,  by whatever means, just do get got contracts. The bigger the deal, the better the contract needs to be. It just saves time, anger, frustration, loss on all fronts... saves it all. I think amongst the jazz of logos, business cards, networking, working any hour you want yada yada, contacts are just not..... sexy. They're dull. But they are necessary.

Build them into future cash flow projections and into any launch. They are a hidden cost, but, well, they're very necessary.

Other Articles

Self employment in the UK part1

Should I start a business? Self employment part 2- freedom of location

How To Get More Sales part 1

Should I start a business? Self employment part 2- freedom of location

Self Employment in the UK part 2

One of the main reasons why I have chosen to move away from employment, into first being self-employed, and secondly into running my own companies (see other posts for info on companies I run) is the freedom self employment and being a business owner allows.

Before I was told where to be, what to do, for 35-45 hours per week. It only gets worse the further up the ladder you go. Your freedom declines with salary increases. This, to me, seemed counter productive. If I wanted to spend my time doing what I wanted to do, the more I worked and the better I got in my role the further I moved from this goal. Granted, some people will be doing what they want to be doing, great! If so, they might not want to move into running a company or being self-employed.

Freedom of location

1. Work where I want
2. Work when I want
3. Choosing customers and suppliers

Working where I want

 Working where I want matters quite a lot to my personal self-esteem. I now choose to work on the beach, or work on the train or work while in bed or, which I find the best, chilling out in coffee shops, before or after meeting up with friends.

Working when I want

This is equally as important. Personally I have productive and non productive parts of the day, I am sure most people do. Indeed Tim Ferriss points out in his Four Hour Work Week book (recommended), that workers often waste a lot of time by coffee machines, or just idling time away. When you work for yourself, you choose when you work, so you can pick the most productive times of day for you.

Choosing Customers and Suppliers

I find this concept great. You cannot choose your boss. But you can choose your customers and suppliers.How great is that.

It is quite important for a businesspersons' self esteem and feeling of self-worth. Picture this. A negative boss, someone who puts you down, stressed you out, maybe even humiliates  you intentionally. Customers and Suppliers are not like that, you have the power to say 'No' to them.
That is quite a good freedom to have, a freedom that most people do not enjoy.

Summary

A business/self-employment can help give you more freedom, but do not believe that is the route to easy street. Working for yourself is not easy, and is not for those who are work-shy. That said, for those that yearn for excitement, freedom of many kinds and more money, the lure of starting out on your own or starting up a company is often to great to ignore.

Self employment in the UK part1

Selt employment in the UK- should I go Self-employed/ start my own company?(Part 1)

There are many arguments for and against self-employment vs employment and indeed from self-employment vs a limited company. I am going to focus on the jump between going from an employee to being self-employed. Some people find this jump the hardest, as you go from the relative 'safety' of a job to being self-employed. In fact, the field of self employment often involves the in between stage where someone is earning in a different capacity, outside of their work.

 My friend was having some financial difficulties recently and I spent one hour with him. On his tax return I showed him that off setting costs, including equipment, could not only reduce his tax bill but he got £400+ back in a rebate. A £500+ return in less than one hour! There are many perks, both financial and non financial, to being self-employed.

 Most common reasons to go down self employed route -
More flexibility - To earn more - To be in charge of one's day - Tax reasons - To be creative - To have freedom of location.

I have already hinted at the potential savings of being self-employed, I'll continue with the hinting.
One major difference is spending. If you are self employed and need a piece of equipment, (lets say you enjoy painting and plan to sell the occasional painting or two) you buy it. Great, new paintbrushes or whatever. You then store away the receipt (or give it to your bookkeeper or accountant). Later in the year they can then use this information to offset for tax. Therefore if you make £10,000 one year, above the non taxable threshold (that changes every year- so for longevity's sake I'll leave out) and you spend £5,000 on equipment then that £5k is no longer liable for tax!

This means you can get some tax savings. As an individual wage slave, no luck. You still pay tax on all your income, receipts or no receipts. Self-employed, your income comes down. That sounds bad on first thought, but not when you save money as you then do not need to pay that extra money in tax. Carrying on with the 5k example, if hypothetically speaking (again tax rates change all the time, and are different in different countries) if the rate was 20% tax on this 10k income and 5k was expenses then you only get charged tax on the remaining 5k. Thereby saving £1000 in tax!


What about a Limited Company?

If you do the same example but suppose that the situation we are comparing is a top earning executive earning 100k a year with 40% going to the tax man, ie £40,000. As a opposed to a  consultant who owns their own small consultancy practice who then paid himself in dividends or kept the money within the company, only paying himself £30k and having expenses- travel,food, equipment (nice new laptop/phone anyone?) of 10k per year...Then he might only be 'earning' 20k (over the year).Therefore he might only be taxed- probably in the smaller tax band of about 20%- equaling 4k. Quite a difference.

The Company, he owns, though will have a lot of money in the bank. Money, or freedom, to do what it wants/needs to.

There's the difference. The difference between separating yourself, from the business.

Big earning individuals. Good. Good for an ego. Great for the taxman.

Big earning company who pays their 'staff' (ie You!) a regular salary but keeps the money for future growth within the company. Great for you, not so great for the taxman as the company, ie Your Company, keep the money.

I'm no accountant but being Self-employed in the UK (and probably in other countries too) allows you to legally save money on tax. Great for people who are interested in working for themselves and/or owning a company/companies!

------------------------------------
Other articles you might like:

Self employment in the UK part1

If you own a company or have started one, or are starting, please do comment and let us know your experiences... Wishing all our readers all the best!

Pros and Cons of writing a business plan part 2

In this second part I am writing mainly from my personal experience, which some readers may or may not agree with... Having started two small companies recently I was told it was needed for me to write a business plan. Unlike in past ventures, where I have planned and sketched out years in advance- this time I thought i'd do things differently. Instead of doing a plan I wrote goals. Strategic and financial goals. How has it worked out?

Well the bank required a small business plan and my accountant recommended one too- so I did sketch one out when asked to, after about 6 months. Guess what? Without realising it, it was remarkably similar to the monthly goals I had set from day.

What are you planning for?


If you are a just starting out, or indeed if you have been going 6 or 12 or even 18 months, you may not yet know how you are doing. You might be trading, doing business, but might not know about your business. Where are you going? What gross profit margins do you need for the next stage of your business?

The main thing any entrepreneur needs to plan for is viability. The stage where your own or other peoples' capital works for itself; where the business generates enough money to sustain itself.
Mcdonalds was losing money even when it had hundreds of stores, until Ray Kroc realised that the way to make money from the fast food business was to own the properties/land. If he had not realised that we would not have Mcdonalds today. There is often no choice but to change, in order to become viable/profitable.

My Story

 What I have noted is that with time, strategy changes. I started off doing lots myself, I graduated to delegating more to part timers and contractors. I have changed goal posts mid year based on resources and energy levels and have responded to unforeseen events, for example doing trade shows and filming them to get publicity. Was any of this in the plan? Not really, no. Remember you should be doing a business plan for you first, unless trying to secure investor or bank funding. Plans change.

One thing that I personally find difficult is if I do spend too long planning the future I end up putting off the here and now. My strategy? Set daily and weekly goals and make sure I do most, or at best, all of them. Have monthly goals too. Then I speak with people I can trust about my company's direction and my industry and make an informed decision on the best course of action. The business plan route can be a type of determinism, restrictive. For start ups and small businesses I think dynamism and the ability to change course quickly are essential.

Let me know if you are an entrepreneur going through, or have been through similar things.

Other posts:

Self employment in the UK part1

Under 30 and starting a business

Under 30 and starting a business


I once did a test online about something to do with what type of businessman are you? Something like that. Anyway, I was hoping that I would be told that I was a leader, or on route to do well, or something else equally positive and reassuring. No such luck. I was told that I was waiting and that what I was waiting for was other people, a partner. It went on to say I would never start a business.

Well, I'm proving that waste-of-time test wrong! Far from wanting to prove anyone wrong, the logic suggests that running a start up, certainly for a young person, is quite a good option (for those with a little bit of start up capital). The alternatives in the jobs market are things like

- Doing free work experience/internships
- Taking a pay cut
- Losing your job due to companies' tightening up their budgets
- Long term unemployment/state benefits
- Sit and pray that my investments triple in the next few years, leaving me with a pitiful dividend income.

Nope. None are these for are for me. I am a risk taker. And yes, I'll do it alone. Or will I?

It is not easy running a business, at any age. Being under 30 has its pros and cons.
Youth brings with it energy, dynamism and generally an appetite for risk. The older would be entrepreneur more than likely has more contacts, money and knowledge. However, from everyone I have spoken to, they are the ones that am saying I am brave.

In my other articles I go into more detail about life at a start up, the ups and the downs.

Other articles:

Self employment in the UK part1

Should I start a business? Self employment part 2- freedom of location

How To Get More Sales part 1