5 Ways To Generate More Potential Customers

5 tips for getting new customers

Often a business will rely on just one or two ways to generate leads; perhaps using traditional newspaper advertising and having a website. It’s likely that whatever you are using works or you wouldn’t be using it. There can, however, be a number of ways to reach your potential customers. And the best ways to reach them changes over time. This means it’s good to periodically review your methods and try new ones. Then when you find something that brings some results, milk it for all it’s worth! For instance, here’s 5 simple ideas to get […]

Tax Issues On Buying And Renting Residential Property In Ireland

Perhaps you’re thinking of moving to live in Ireland, or maybe you already live here. What are the tax issues you need to be aware of on buying or renting a residential property? Renting… When you rent a residential property then there is no tax relief available on the rent you pay. This applies whether you’re renting from a landlord or sharing a house with someone else. If you run a business from home then it may be possible to claim a proportion of your rent cost as a business expense in your accounts. This would […]

Are You Taking Needless Risks In Your Business?

You wouldn’t dream of climbing on board an aircraft if you knew the pilot was going to ignore the pre-flight checklist because they’d ‘done it before’. Would you allow a surgeon to operate on you or one of your children if they didn’t follow the recommended World Health Organisation (WHO) surgical checklist that has saved many lives in many countries? So why do businesses allow certain mission critical jobs in their firm to happen without the pedantic, disciplined, committed approach to checklists that airline pilots and surgeons have? Pilots and surgeons are some of the brightest and […]

5 Simple Ways To Reduce Your Tax Bill

  This is a very popular post that we first published in 2010. It’s been reviewed and refreshed for up-to-date accuracy. 1. Question Every Expense Whether you’re trading as a sole trader or a limited company, an easy way to reduce your tax bill is to ensure that all of your business expenses are recorded in your accounts. So every time you put your hand in your pocket to pay for something or reach for the credit card, think: is this a business expense? The general rule is that if the expense is wholly and exclusively […]

Can A 1% Price Increase Really Deliver An 11% Profit Increase?

It’s proven that the fastest and most effective way for any business to realise its maximum profit is to get its pricing right. The right pricing structure can boost profit faster than reducing costs or increasing your sales volume. On the flip side the wrong pricing structure can shrink your profits just as quickly. And yet many business owners are still reluctant to investigate initiatives to improve price for fear that they will alienate, frighten or lose customers. The result of not managing price performance, however, is far more damaging. Getting your pricing right is one […]

Are Your Staff Helping Your Business To Grow?

It pays to take your annual staff appraisal or performance review process seriously. Probably more seriously than you do now. Your business approach to appraisals can unlock greater success in your business because it can unlock greater performance from your people. However, most appraisals don’t result in higher levels of energy and motivation. This is a problem because a motivated team of people, an improving team of people, a more energised team of people can transform the results of your business. But a demotivated, ‘can’t-be-bothered’ team will undermine the future success of your business. As a […]

9 Quick Tips For Motivating Your Employees

Motivating employees can often seem like a dark art. While you might hope that providing someone with a job and regular pay should be enough, it often isn’t. The continual changes forced on us by the turbulent times we live in can severely affect morale, and with it productivity nosedives. On the other hand with motivated employees, productivity, quality and service all go up. How can you motivate your employees? 1. Read about motivation Before you start it’s a good idea to read the experts. People are motivated in different ways and by different things. So […]

How Delegating Can Help You Live a Better Life

You may have gone into business because you like being in control of everything. You’re probably doing things you know you do well yourself, and you get a strong sense of satisfaction from that. But, if you want to keep your sanity in a growing business and live a better life then it’s vital to learn how to delegate to your employees. Why is it so difficult to delegate? There are many reasons. Perhaps: It seems quicker to do a task yourself than explain it to someone else and then have to spend time correcting the […]

Small Businesses Benefit From Interest Rate Cut

From 1 July 2016, Microfinance Ireland is offering a 1% cut in its interest rates on loans to small businesses. Microfinance Ireland (MFI) was set up in 2012 as a not-for-profit lender designated to deliver the Government’s Microenterprise Loan Fund. MFI provides “micro-enterprises” with access to loan finance of between €2,000 and €25,000. This can be a helpful option to businesses in getting finance. What is a micro-enterprise? A micro-enterprise is any business with less than 10 employees and an annual turnover of less than €2M. MFI will consider applications from start-up as well as established […]

How to Retire and Smoothly Exit Your Business

More than likely your business is highly dependent on you. Perhaps it’s your skills or your drive and ambition that make your business a success. But now you’re coming up to retirement age or maybe you’re thinking of leaving the business for different reasons. How can you smoothly exit your business? The answer is to plan carefully. This is often called succession planning. What is succession planning? It’s a plan to determine and develop the person(s) who will take over from you in running the business. What are your options? Your options can usually be boiled […]

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