Category Archives: Small Business Advice

What does it take to be a business owner?

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What does it take to be a business owner?

Always dreamt of having your own business? Perhaps you’ve fantasised of being able to plan your own day or want control over your workload –  but do you actually know what it takes to be a business owner? We help thousands of businesses get started every year, so you could say we have some experience. Here’s what we consider to be the most important requirements for getting your business idea off the ground:

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An interview with Ryan Panchoo from Borough 22

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Ryan Panchoo from Borough 22

We had the pleasure of speaking to Ryan Panchoo – the business owner and mastermind behind the successful gluten-free vegan doughnut sensation, Borough 22. Be right back – we’re off to get our doughnut fix!

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What to expect when you form a company

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What to expect when you form a company

You’ve had the dream and taken the plunge to set up a limited company, but what next? First of all, well done on deciding to start your own business – you’ve made a courageous decision in taking the first steps of your business venture! Let us guide you through some steps to take once you have your newly incorporated company.

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Do you have a cost-effective business?

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Profit margins are the be-all and end-all of running a business, and with so many expenses coming from every angle, it can be a huge challenge to keep things cost-effective. 82% of small businesses fail because of cash flow mismanagement, which goes to show just how important it is for a business to maximise their income and minimise their output.

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Top 5 Marketing Tools for Startups

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Startups face the unique challenge of translating passions and ideas into repeatable profits. If you want to scale your business successfully, you need systems that support your goals. The great news is that with today’s technology, you no longer have to rely on manual processes and spreadsheets as your business grows. There are many powerful tools available that offer agility-boosting features for a price that won’t break the marketing budget.

Here’s a closer look at the top 5 marketing tools that your startup company should (and can) invest in early on to support your business goals as your grow.

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An interview with Julie Holmes, co-founder of Hey Mic!

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 HeyMic! Founders

Tell us a little bit about your company. What is your business in your own words? How long has it been running?

I’m Julie Holmes, the creator and co-founder of a company called JUST Innovate Ltd which manufactures and sells a neat little gadget called Hey Mic!. Hey Mic! is a Bluetooth wireless microphone explicitly designed to connect with smartphones to capture great audio with your videos.

Our business has two founders: Steve Clarke and me. We’re both professional speakers who decided to work together early last year, and we’ve been running since June 2017. We launched Hey Mic! within 90 days!

Was there a lightbulb moment?

It happened when I was working at a trade show, where I was speaking to a group of about 200 people. I wanted to capture some audio of the essential messages I had put together for this presentation and the questions asked by the audience so that I could share them back with other people in my business, namely sales and marketing.

I’d done recordings on my phone before, but they were never good enough to be used as it was often hard to hear in big, busy rooms. I knew at that moment I needed to create something that would make it easy for me to capture and reuse the audio, so that’s where the idea of Hey Mic! was born.

Were there any big pain points when you were starting up the business?

One of the most significant challenges we had was purely finding time to get things off the ground.

Both Steve and I are busy, full-time speakers and business leaders, so carving out and creating another company was incredibly hard. So, as you can imagine, we were both working evenings and weekends as we tried to get Hey Mic! off the ground and it often felt like there weren’t enough hours in the day – we got tired! But we believed in our product, so knew we had to make it happen.

What has the high point been so far?

We donated a couple of Hey Mic!s to the Professional Speakers’ Association in the UK to help raise funds for their Foundation, which collects money from its members via auctions for other speakers when they fall on hard times, or just need a helping hand.

I was amazed to see how excited everyone was to bid on our product! It was so rewarding to see how much money we were generating for the cause, but it also reinforced that people in our marketplace; our friends and colleagues, saw how valuable Hey Mic! could be for them.

Have there been any low points and how did you overcome them?

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Give your business a workout

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Give your business a workout!

We all know the promises we make at the start of the year to get in shape, feel fitter and be stronger, but do you think about your business in the same way? Forget signing up to the gym, give your business a workout instead and get a head-start to 2018. Ready, set, go!

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What’s your business’s most important asset? It’s probably not what you think

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When asked, “What is your most important asset?” most company owners that we asked said it was their business or their properties. However, at Interlife we would disagree. We believe your health is a much more valuable asset. Ask yourself this, if your health deteriorated and you were unable to work, would your business continue, and would you be able to afford to pay your loans? This starts the business protection discussion. Continue reading

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10 resolutions for entrepreneurs to action in 2018

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2018 Goals

The end of the year is always a good time to reflect on achievements from the last 12 months. But the pressure we put on ourselves to fulfill promises for the next year often fall to the wayside after a few weeks of effort. So we’re sharing 10 small resolutions that you can easily implement in your business that could mean big things. Make these your resolutions, then go forth and action them in 2018!

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