business ideas 4 you

Why You Should Get an ‘Idea Editor’ and 4 More Business Tips From the Week

admin — Fri, 24 May 2013 21:54:37 +0000

A roundup of the best tips of the week from Entrepreneur.com.

David Karp has always been Tumblr’s idea man, the one with a vision for how to drive the product forward. But his second-in-command, Marco Arment, served a necessary role as Karp’s “idea editor” in the startup’s early years. Karp was always dreaming big, and he sometimes needed a colleague to give him a dose of reality. “David would come in with a grand new feature idea, and I’d tell him which parts were infeasible or impossible, which tricky conditions and edge cases we’d need to consider, and which other little niceties and implementation details we should add,” Arment said.

Although the two men disagreed at times over Tumblr’s future direction or the question of whether or not to seek additional funding, Arment emphasized that Karp was usually proven right in time. Nevertheless, it’s easier for high-flying entrepreneurs to succeed if they have down-to-earth colleagues watching their backs — and working hard to refine and implement their big ideas. More: 3 Leadership Lessons From Tumblr’s David Karp

Engage millennials with casual conversation.
Millennials are used to interacting with their favorite brands on social media, and they want to be treated more as conversation partners than as mere consumers. So all of your communications should seem authentic and natural, like a real conversation. How? “Just talk to people like people,” says Michele Serro, founder of New York City-based Doorsteps, an online tool for prospective homeowners that targets young buyers. Try using casual language. (Tumblr’s David Karp recently signed off the note announcing Tumblr’s sale to Yahoo with a gleeful expletive.) Your brand’s messages “should feel like a dialogue that honors real human emotions,” Serro says. When people feel emotionally connected to your company, they are more likely to be loyal customers. More: 4 Tips for Marketing to Millennials

Make sure your app fixes a headache.
Successful products tend to sell themselves not as products but as solutions. Mobile apps are no different, says Rahul Varshneya, a startup coach and co-founder of Arkenea LLC, a mobility and cloud solutions company with offices in San Jose, Calif., and Pune, India. “Your app needs to be the aspirin that people need,” he says. When brainstorming and building your app, you can choose either to solve an existing problem — like the Flashlight app does — or build a better version of existing solutions, like a new-and-improved weather app. “Each of these approaches works equally well as long as it satisfies a need for consumers,” Varshneya says. More: 4 Essential Ingredients to a Successful Mobile App

Don’t discount your service for big companies.
If you’re one of the many startup founders who dreams of landing her first big client, there are a few things you should know before sitting down for a meeting. For instance, big companies will often ask for a “most favored nation” clause in the contract, which means they will enjoy the same rate for your service as the lowest rate you have ever given to any client. This is problematic for startups, which often have to cut sweetheart deals with early clients in order to get off the ground. Once you have a whale on the line, the last thing you want is to get minnow-sized payments. The best defense is to have a valuable, unique service that the big company couldn’t easily build itself, says Kathleen Utecht, a senior associate at Comcast Ventures. In that case, the startup can say no to the clause and still land the client. More: 3 Tips for Doing Deals With Big Companies

Stay true to your brand as your business evolves.
As brands evolve, they risk losing touch with their core principles. This is dangerous, because authenticity is crucial to any brand, says Ken Carbone of Manhattan design-and-branding firm Carbone Smolan Agency. And consumers today can smell a fake. Carbone holds up Apple as a positive example, because although it has changed a lot since its founding, “those changes are always planned and have been very well-nurtured over the decades,” he says. “You must make sure that your company’s fundamental tenets and beliefs are intact, and only fine-tuned by changes in culture, society and customer taste.” More: The 5 Branding Rules of Attraction

Got a great plan? How to protect your small business idea

admin — Fri, 24 May 2013 21:54:36 +0000

By
This Is Money

UPDATED:

04:21 EST, 23 May 2013

It is one thing to day dream about a great idea or invention that will make you millions, but quite another to turn it into a viable business.

But it can be done, as thousands of British entrepreneurs prove each year. If you have a ‘eureka’ moment, you must protect your idea. If your business centres on an invention, this is done by means of the patenting process. If you run a business along more ‘intellectual’ lines – for example, selling photography or producing literature – copyright is your protection.

It won’t be cheap – but it will be worth it. Vacuum cleaner tycoon James Dyson famously spent many many thousands of pounds on patents long before any of his products came to market, but had he not done so his unique cyclone technology could have been appropriated by rival manufacturers.

Protection: James Dyson famously spent many many thousands of pounds on patents

Patenting: the basics

Before you begin the patenting process, you must research whether your idea really is new, otherwise you will not be granted a patent.

Once you establish that your idea is unique, discretion is the key. Keep your plans secret until a patent application has been filed.

You can do this free of charge either on the Intellectual Property Office (formerly the Patent Office) website or at a public library with a patent department. If your search brings up nothing you should then go to a registered patent agent or search bureau, although this can be costly. Agents should be part of the Chartered Institute of Patent Attorneys.

For more information check out the Intellectual Property Office guide to patents here

Know your market

Check there really is a market for what you are offering: Who wants it? Where are the customers? Will it solve an existing problem better than anything else currently available?

Look at which companies and products are your potential rivals and what market share they have – can your invention compete with what they offer at a competitive price? For example, you may have developed a new paint – but could you compete with ICI? You could, of course, revolutionise the market with your innovative new product. But Patent Attorneys and the Intellectual Property Office should be able to offer advice on this.

Define your idea

Write down clearly what your invention is, how it works, how it could be made in bulk and at what cost, and what its advantages are, including a simple drawing if it is mechanical or electrical. Then take out a patent either yourself (very difficult) or via a patent agent.

Patent process and cost

If you apply yourself fees will cost between £230 and £280 from initial filing to a patent being granted. The process takes about 33 months (the fast track system can take under a year for the same price).

Drawing up patent documents is a skilled job, so it is usually better to use a patent agent – the Chartered Institute of Patent Attorneys can put you in touch with one.

The average cost of employing a patent attorney is between £3,000 and £4,000, but may be less for a simple invention. Your initial application protects your invention for a year, and although protection can be extended it becomes more expensive, especially for international patents. Try to find a company to buy or license your invention in the first year to save money.

Copyright: the basics

If you create ‘intellectual’ works you automatically hold the copyright on them. This lasts for 70 years.

You can’t claim copyright on slogans, names or titles, although these can sometimes be trademarked. Copyrighting also gives you the ‘moral rights’ to your idea. This means you can object to infringements of your idea.

Copyright is automatic in the UK – you don’t have to apply for it. However, it is worthwhile appending your work, where possible, with the international copyright symbol (©) followed by the year of creation and your name.

Under international conventions, this protection extends to overseas territory and allows you to control how your work is exploited for money and how it is copied, adapted, published, performed or broadcast. This can be an important source of income for some businesses.

Remember, if you use contractors, they hold the copyright unless you agree otherwise.

Useful links

The British Library Business and IP Centre

The Intellectual Property Office.

Gov.UK

Article source: http://www.thisismoney.co.uk/money/smallbusiness/article-1585163/Protecting-patenting-small-business-idea.html

10 Small Business Ideas

admin — Thu, 23 May 2013 21:53:33 +0000

By: Ivan Widjaya

Is your inner entrepreneur begging to come out?

You’re not alone. In the next few years, an increasing number of employees will pack up their desks and place their bets on self-employment and the profits and personal accomplishment that it brings.

Does it mean that everyone will succeed? Of course not! Any decision to start a business must be well-grounded in reality. And the reality is that markets change, so what’s hot today could be as cold as the Artic tomorrow.

There’s no ironclad way pick your next business venture, but there are ways to protect yourself from an unwise decision. To do this, you’ll have to pay close attention to demographic shifts in society.

Start with market research. It’s boring and seemingly a waste of time when you want nothing more than to get the exciting task of building your business. But with proper research, you’ll know how best to leverage your talents and knowledge to build a profit-pulling business.

There’s no substitute for research, not even the 10 great business ideas I’m about to list below. But these ideas should get you thinking so you could get started down the path to success. The business ideas are based on trends of what’s hot today and will probably remain that way for the foreseeable future. So whip out your notepad and let’s start digging into our top 10 small business ideas.

Virtual Assistant: One of the fastest growing industries among women, virtual assistants provide administrative support services, event planning, personal management and a host of other services over the Internet. They are not constrained by time or distance since technology facilitates communication and exchange of data.

Blogging: Blogging has grown significantly in the last few years. There are now thousands of professional bloggers who make a full-time income by firing up their home computers on a daily basis. Income is primarily earned through advertising. Some specialty niche bloggers are paid to publish content for industry blogs.

Home Staging Business: Nowadays, sellers have to use every trick in the book in order to sell their homes. Home staging is a relatively new trend used to improve the appearance of a home to attract offers and make a sale. Take a few courses in home staging to build on your natural designing skills. You’ll also need to network with real estate agents who will call you in when they have a home that needs staging.

Daycare: Childcare is an industry that is not going away anytime soon. With both parents working, someone has to keep an eye on the children. That someone might as well be you.

Handcrafted Items: Online shops like Etsy.com provide a place to sell your handcrafted items. Kick your love for making crafts into high gear, and start making profits doing something you love.

Niche Online Store: What if you’re not good at handcrafting? You can still setup an online shop, and maybe sell your perfectly round cookies, or gourmet cupcakes. Get your products photographed by a professional, upload them to your site, promote, and start selling.

E-learning Service Provider: Don’t throw your special knowledge or skill out the window just because you’re leaving your job. Setup a paid subscription based service and start teaching your expertise to anyone who wants to learn. Paid membership sites earn huge monthly revenues when they’re promoted to the right audience.

Specialty Reviewer: Set up a blog where you can write reviews for a particular industry. People often look for honest reviews online before they purchase a product or service. So if you dine out a lot, start reviewing the restaurants in your area and have your readers pay you for the tip. You can also earn money through affiliate recommendations.

Writing: If you’re a natural writer and you don’t mind deadlines, then you can earn a living by writing for magazines, local newspapers and online publications. You’ll have to market your writing business, but it’s another way to make a living by doing something you love.

Catering: Do you love to cook? If you’re the go to person for melt in your mouth baked goods or mouthwatering entrées, then it might be time to outfit your kitchen and open a catering business. You can book events or set up a storefront – whatever works best for you.

Ivan Widjaya is the Founder/Editor of Noobpreneur.com, BizPenguin.com and several other business blogs.

Article source: http://smallbusiness.patch.com/groups/business-news/p/10-small-business-ideas

Four ways to make your business lean

admin — Thu, 23 May 2013 09:48:20 +0000

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Brothers Hezi (back) and Gabby Leibovich.

Think ‘lean’ and imagine an athlete who is sleek, agile, flexible. The concept of a lean business is much the same as that athlete to the extent that all food is fuel and almost nothing is wasted. A lean business is one that is not only resourceful but also flexible in its approach to the market.

One of the principles of a lean business is an ability to quickly and easily adapt to change. Most startups already practise lean business concepts by virtue of having scarce resources that need to be deployed in a smart and timely manner to have a positive effect. However, many businesses grow out of being lean without realising that it can be the best way to grow while still retaining the agile properties of a startup. So how do you act like a lean business?

1. Keep the customer front of mind. Identify what you are trying to achieve and for whom. A customer-led vision means answering questions such as: what do they need that you can provide? Is it better than their current options? A lot of business owners get caught up in making a feature-rich product without first pinpointing what their customers really need, which is a waste of time and money.

Canvas the detailed opinions of at least 50 potential customers and note the top five things they would like to see in your product. This will give you a way to prioritise features in order of importance. When the product is nearly ready, go back to those trial customers and ask for feedback. Sort and prioritise the feedback and do a ‘second draft’ of the product to see if their opinions change. Lean businesses use a rapid feedback loop and a tight product cycle to get things right, and quickly.

2. Be cost effective in your research phase. Launching without first conducting research is an expensive exercise, so work out a cost effective way of testing your ideas before you go too far down the track. For example, long before we launched our online hot food ordering website and app, Eatnow.com.au, I visited more than 300 restaurants in Melbourne to speak with owners, ask questions, and watch how they did business. If we had built the service based on my initial assumptions of how the industry worked, I would have spent thousands of dollars building a useless product. Those couple of weeks were a cost effective way to understand my customers and stakeholders to build a product for them.

3. Get smart with technology. When we started Eatnow.com.au, we would take the orders from the site and call the eatery on behalf of our customers. We then invested in technology that allows customers to place an order through our interface, which is then transmitted directly to the partners: a process that is quick, without errors and with zero manual labour.

4. Make the right decisions quickly. A top-heavy management layer is cumbersome, so lean businesses often have a flat structure that allows junior staff to challenge the CEO with new ideas and improvements for products or processes. In our company, the people who do the work are also responsible for finding improvements in the processes they use. This gives us an effective, internal feedback loop that leads to quick, positive change.

Any business can learn to be lean if it really wants to reduce waste and embrace agility. Even large organisations have the chance to integrate lean concepts into their operations if they are open to changing the way they do things. The result? A heightened ability to turn a profit in a changing environment.

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Article source: http://www.smh.com.au/small-business/growing/four-ways-to-make-your-business-lean-20130522-2k00k.html

Four ways to make your business lean

admin — Thu, 23 May 2013 09:48:20 +0000

The Sydney Morning Herald

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Brothers Hezi (back) and Gabby Leibovich.

Small Biz news delivered to your inbox twice-weekly.

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Great accounting software for SMBs

What’s the best accounting software for small businesses?

At a loss about losses

Can business owners claim an initial investment as a capital loss?

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For new mobile postpaid customers, available on selected plans. Offer Ends 30/06/13.

Compare Mobile Phones

For existing mobile postpaid customers, available on selected plans. Offer Ends 30/06/13.

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Special upgrade deals and new prices

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NEW Samsung GALAXY S4 starting at $48/Month + special upgrade only deals!

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NEW Samsung GALAXY S4 starting at $49/Month
Min. total cost $1,176
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Compare Mobile Phones

Compare plans for the stunning iPhone 5 16GB, iPhone 5 32GB and iPhone 64GB models

Compare Now

Compare new plans from $30/Month over 24 months on major carriers

Compare Now

Available on Virgin Mobile from $52/Month
Min. total cost $1,248
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Compare Mobile Phones

From $48/Month on Virgin Mobile
Min. total cost $1,152
over 24 months

Compare Mobile Phones

Bonus wireless charger, available via redemption with Optus and Nokia. Offer ends 31/5/2013

Compare Mobile Phones

Samsung Galaxy S3 4G, $0 on the $59 Big Plan
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Article source: http://www.smh.com.au/small-business/growing/four-ways-to-make-your-business-lean-20130522-2k00k.html

business ideas 4 you

Why You Should Get an ‘Idea Editor’ and 4 More Business Tips From the Week

Got a great plan? How to protect your small business idea

Patenting: the basics

Know your market

Define your idea

Patent process and cost

Copyright: the basics

Share or comment on this article

10 Small Business Ideas

Four ways to make your business lean

Ask our Experts

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‘If the idea is good, the money will come’

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Check out today’s best deals

Four ways to make your business lean

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‘If the idea is good, the money will come’

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Check out today’s best deals