It seems like in today’s economy general day to day expenses mount up in just trying to keep the business running. Cash flow is always an issue, as is staffing. Employ too many staff and your costs will be too high, employ too few staff and your business efficiency will be affected and that can lose you business!

A way around this is to ‘outsource’ where possible your office and business requirements. So let’s look at the different areas of Outsourcing.

Secretarial and Administration Services

• Secretarial and Administration services can be found in a variety of companies, from a firm that simply takes your phone messages, to a company that will deal with all your daily requirements, from diary management to online marketing. Draw up a list of your requirements and expectations before you start your research to make it easier to find the right provider.
• You may find that you will need to hire more than 1 virtual assistant to cover all your needs: someone can be answering your phones while another VA could specialise in copy writing.

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The cuts have been recently announced and many business owners still fear the recession coming back and how the cuts will affect their business. Will their customers be able to pay them? Will their cash flow stay afloat allowing them to pay their creditors? It’s pointless blaming the government or big banks though for what’s happening down your street and in your small business. Better let us all roll up our  sleeves and go make sales!

So how can we keep our businesses profitable in tough economic times?

Sell more to your existing customers – you have already created rapport, trust and proved your credibility to them. Use bundles when selling: as your customers decide to buy one product you can offer them another. You can also add low cost bonuses to your offer that have high perceived value – ebooks, member-only sites, consulting, e-reports, etc. And never forget about viral marketing on the Internet!

Create joint venture deals with other businesses and cross promote your products or services. You will reach a wider audience at less cost. Trade advertising with other businesses, find complementary products or services through networking. Start an affiliate program for your business. Less money on advertising, yet more guaranteed sales!

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Freelancing and consulting can often seem like an impossible juggling act, but if you keep these seven practical business tips in mind, your business will go from strength to strength.

Work out what you’re best at and express it clearly on all marketing material – niche marketing is a simpler and more profitable way to grow your business, rather than trying to be everything for everyone. The more detailed your customer avatar is – the simpler it will be for you to find them, connect with them and offer something of value. To start creating your customer avatar think of the following questions:

• Who is my ideal customer? Who would I like to work with?
• Are they able to pay my fees? Will they be willing to pay my fees?
• What problem do they have in life, that my offering will help them solve?
• Why is it important to get it solved?
• How many of those customers are out there in the marketplace?
• WHERE… (do they work? Where do they study? Where do they live?)
• WHAT… (do they eat, drink, read, listen to, are interested in?)
• HOW… (do they look for new products or services, do they choose their suppliers, do they pay the bills?)

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We often come across small business owners without a definite plan to follow up on their leads. They keep a collection of business cards from networking events, and have address books where they record contact details. But these are often used at random, if at all, and are sometimes simply forgotten. So what is a database, how does it differ from the card collection and why should a small business have one?

The answer is simple. Would you use a typewriter to prepare a proposal for your customer? Probably not. Same reasoning applies to managing your customer data. The business database is one of the most important assets in your business and, if used properly, it can generate a steady stream of income each time you turn to it.

A database is essentially a collection of information about something, in this case – about your customers and prospects. The main benefits over collecting paper cards are:

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How do you rate your time management skills? Do you feel you get a lot done every day? Do you plan your day to the last detail or just “go with the flow” and deal with whatever landed on your desk/in your inbox? Whichever category you are in, it’s important that you take time to analyse what’s working for you and make adjustments where necessary.

I’m someone who’s fond of written to-do lists. I’ve got my hardcover diary where I scribble every day my lists and feel great emotional empowerment once all items on my to-do list have been ticked off. I add my meetings there too, any trivial household tasks like getting the shopping or doing the school run. In this way I know exactly how much time I’ve got between “fixed” commitments and can schedule and organise the rest of the tasks in between those.

Here are some tips from the born organisers (aka “virtual PAs”) for organising your day:

1. Write it down.
Make a list and write everything down – on paper, on computer, in Excel, on iPhone or Blackberry. It doesn’t matter where but it’s got to be written! You may be shocked, surprised and overwhelmed looking at your list of ‘to do’s’. But don’t despair – as they will all get done, if you follow the steps below. Also, don’t forget to schedule lunch in your diary, especially if you find yourself often working through your lunch break!

Another tip I’ve picked up from Nigel Botterill (UK top entrepreneur) – “this day isn’t over until tomorrow is planned”. Don’t stop the work until you’ve done the list. In this way you won’t waste time in the morning and you will be more likely to stick to your list/plan rather than changing everything because of an email that landed in the Inbox overnight. continue