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2002

02.11.2002: Sales Forecast Tips

#1 Describe the business concept simply and clearly

You cannot expect potential customers to say what they think about your business unless you describe it clearly and succinctly. Try to articulate in a few simple sentences what the business does and why it's better than other ones already in operation.

Here's an example: One of our colleagues to build an app that would enable people with private parking spaces in a given city to rent them to individual travellers. The renters would receive a guaranteed space at a reasonable price and the landlords would take in extra money.

Make sure you can convey your business idea in clear terms. 

08.08.2002: Process Tips

#3 Focus on your core strengths

One issue that we see far too much is start-up owners, particularly software-as-a-service providers, believing that they need to create everything from scratch. If you've already got a coder on your team, it can be seriously tempting to have him or her build internal apps and products rather than investing in existing solutions.

The problem with this approach is that it wastes your time. It might save you a few pennies at the end of the day, but the cash you'll save is peanuts compared to what it cost you to take a key employee away from those activities that drive revenue for your business.

Instead, it's far more cost-effective to work with existing providers and use the tools that they've already perfected, rather than trying to reinvent the wheel on your own.

08.06.2002: Business Finance Tips

#2 Choose accounting software that makes sense for your business

When it comes to accounting software, there are a variety of different solutions. Think of Xero, QuickBooks and Sage. The best online accounting software depends on your business, and it's worth considering several options before making a decision.

If you haven't moved your financial data from desktop software to the cloud yet, that should be your first order of business. Cloud-based tools allow you to view real-time insights, and they can be accessed from anywhere at any time. The ability to keep an eye on your finances on the fly gives you a great deal of flexibility as a business owner.

If you've already picked out an online solution, ensure that it's the right one for you and your business. Today more than ever, there are a myriad of options to choose from, and if you aren't satisfied with your current service, you can always make the switch to another platform that better matches your needs.

2001