Tips and Advice When Starting a Business

One thing is for sure when you start your own business; you’ll be receiving advice from just about everyone you know. Unfortunately, this advice tends to come from individuals with no experience of doing so themselves. So you’ll turn to the internet in an attempt to fill your pockets with much needed guidance from every crack possible, which again isn’t ideal. Luckily though, you’ve found yourself comfortably onto Archery IFAA, where we are experts in both business and domestic financial advice.
In this article we will be running down the top tips which will help you on your venture into entrepreneurism.

 

Make yourself a detailed journey plan

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This should be the first thing that you do: create an extensive plan which will help you illustrate the path onwards your end goal. This plan should include any opportunities you’ve identified, it should mark out what your end goal is accurately, establish minor goals along the way which you can cross off on your way to completion. By setting deadlines for each milestone, you’ll be able to set a time on when you expect to be achieving the goals, so you know if you are before or behind schedule.

 

Get networking

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In the modern business climate, it’s extremely important to get out there and get your name about, whilst meeting the right people within your industry. You must create your own word-of-mouth in order to progress your business, as nobody else is going to be doing so when you start. We’d recommend selling your services and products at conventions and exhibits, as this is a great way to express yourself towards your direct audience, if you are at the right place.

 

Get the right team

Surrounding yourself with the right people can be greatly beneficial for your business. Whether it’s by forming a team of ambitious young people who are fast learning, or people who are already experts in their field, having the right team will play a huge part in your business.

 

Hire an expert to do your taxes

Doing taxes yourself can be beneficial, but only if you are a skilled tax expert. If you aren’t we would suggest hiring a company who know what they are doing. One of the biggest mistakes new businesses make whilst trying to cut costs is assigning an unskilled member of their staff to try complete tax forms and accounts themselves, as the almost certain mistakes will end up costing the business money. If you hire tax experts you will gain advice on how to save money on tax related payments, so you can make sure that you are paying no more than you should be. Companies such as Tax Kings in Glasgow are experts at this, and there is tax companies all over the UK who do the same.

Have any questions? Be sure to get in touch by commenting below!

What Is Data Management and How Can It Save You Money?

Here at Archery IFAA, it’s our job to try and save you money for your business and household. In this article, we will be concentrating more on the business side of things by the information you of what data management actually, how it can add value to your business and ultimately, how it can save your business time and money.

What is Data Management?

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Data management is an IT/administrative action which consists of acquiring, storing, validating, indexing and protecting that that you can be sure that the data is always accurate, easy to access at all times, and non-accessible for anyone without permission to view it.

 

The DAMA (Data Management Body of Knowledge) gave an excellent description of data management, where they said that it’s the development, execution, supervision of plans, policies, and programs that help to control, protect and both deliver and enhance electronic and offline data.

 

Why are businesses paying such attention to their data?

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To put it simply, businesses pay attention to data in order to save money and time, as we briefly stated in the intro of the article. But how would storing, indexing and protecting data actually help a company save money? Let’s say you are a large commercial business or an enterprise looking to grow, you are likely to be paying attention to the big data which your company has stored to help with decisions and develop deep insights into your customer’s trends, behaviours, which will then help create excellent customer experiences and more importantly, SALES!

 

To elaborate on this notion, if your data is accurate and trustworthy, and is telling you that 80% of consumers of your product, or services are under the age of 25, then this provides you with the opportunity to optimise and enhance your advertising campaigns so that it will better suit your target demographic. From this data, you can realise figure out which websites, magazines, and locations to be introducing people to your products.

 

As well as this example from age demographics, accurate data can also give insights to many different elements of your customer’s behavior including sex, relationship status, interests among more.

 

What is the danger of bad data?

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Firstly, if you aren’t aware of what bad data is, its data which is incorrect, inaccurate or out of date. It’s hugely important that you have people within your company making sure that your storage and arranged data is not only accessible but accurate. Inaccurate data can lead to catastrophic decisions being made, e.g. let’s say your data is telling you that there is a lack of interest in your products in Scotland, but you have a lot of interest in Wales, you might just put all of your stocks into developing your product interest in Wales, forgetting about Scotland, if the data turns out to be inaccurate, and you make equal sales in the countries this could cost your business a lot of money.

 

Because of the dangers of bad data, it’s important that you make sure you can trust the team managing the data. One way of doing so is by hiring experts with years of experience in the industry, can companies such as Paper Dock are just that. No matter what industry you work within or what sector you trade in, if you are located in the UK or Ireland, check out what they can help your company evolve.

 

Have anything else you’d like to know?

We hope our simple explanation of data management at the start of the article was enough to help you get your head around the subject, if you have any data related questions you would like answered feel free to get in touch with a member of our writing team by commenting below.

What Actually is Life Cover Insurance and How Does it Work?

Due to schools in the UK not always teaching students about things which are entailed in adulthood such as bill paying, insurance and other monthly financial aspects of life, it’s okay to feel as if you don’t know how about life cover insurance, although not to worry, Archery IFAA has you covered.

 

In this article we will be breaking down what life insurance cover is, and everything that is associated with it in a basic and easy to understand manner.

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What is life insurance?

Sometimes referred to as life assurance or life cover, life insurance is a way of protecting your family from the financial troubles which could happen if you were to pass away. Sometimes it can be commonly misconceived as some sort of banking savings or investment scheme, although it’s much more similar to the same way you’d insure a house or a car.

 

How do you pay life insurance?

Life insurance is traditionally paid in a monthly to annual direct debit, depending on your preference. Based on the insurance companies package or plans, you’ll choose one which makes sense to you, based on your current income and other aspects.

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How much does it cost?

There can be many factors which go towards deciding how much you’ll be paying on a monthly or annual basis; the factors include the likes of:
– Age
– Family size
– Size of plan
– Your health
– Debt
– Job role

 

Why would I need life insurance?

For most it comes to peace of mind. If it’s you who is bringing in the major of the household’s income you might ponder how your family would cope without you being there to support them. So if your family relies on your monthly income in order to pay for bills, food and clothes, if you were to pass away, they would receive a sum of money which would see that they are financially stable. Due to the potential risks of leaving your family with no money, it’s highly recommended that the dependent members of the family should pay monthly life insurance to limit the risk if the worst was to happen.

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What types of life cover are there?

The basic life insurance – This is prepared and set up so that you know exactly how much will be given out to your family if you were to die. The more that you pay monthly the more the insurance company will accommodate to the lifestyle of the family, contributing towards living expenses, child care costs and other things of this nature.
Critical illness cover – This is a feature which isn’t payed for alone, but more of an add-on to the basic life cover payments, it essentially means that if you come into bad health with a disease such as cancer, your family will be supported financially although you are unable to work.

 

Looking for more information on life cover?

We hope that this basic and simple straightforward information on life insurance was of use for introducing you to the subject, or helped increase your knowledge of how it works. If you are looking for more extensive information life insurance, check out mortgage protection insurance for factors and advice from experts.

3 Ways to Save Money on Home Entertainment

Today’s level of home entertainment is unrivaled with movies, video games, TV shows, music, and much more available to us at the touch of a button. However, with the rising quality and quantity of this type of entertainment year after year, costs begin to rise as well.

No matter what kind of entertainment or media you enjoy at home, there is always ways to save yourself both time and money. With a little research and thought, you could be saving cash on everything from the TV you play video games on to your monthly video-on-demand service. Below we’ll detail some of the ways you can save money on home entertainment. Continue reading

3 Forms of Long-Term Investment Anyone Can Take Advantage Of

Investing is something we all come to consider at one point or another from our 20’s onwards as these long-term decisions begin to matter more and more. There are so many different ways in which we can turn our money into something more, be it through a mortgage on a property, shares in a company, and government or business bonds.

While some forms of long-term investment are more suitable for some people rather than others, literally anyone can get involved with any one type of investment. Below we’ll go through 3 forms of long-term investment that anyone can take advantage of.

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Saving Money With Good Office Design

office-designOwning or managing an office business comes with the responsibility of keeping costs down and using resources to their full capacity. One money-saving aspect of this is, of course, efficient use of office space.

Effective office design services can help anyone and everyone make better use of their office facilities through a myriad of different ways. Below we’re going to take you through 4 different ways you can save money and space with professional office design.

  1. Make More Room For What Matters

Renting an office means that every penny you pay goes towards every square meter of free space, any room not being used efficiently loses you cash every month. However, this need not be the case with an effective office design in the workplace.

One tip to consider is making a list of all your office furniture, then adding each piece of furniture to categories such as ‘Essential’, ‘Occasionally Used’, and ‘Rarely Used’. This will help you determine what furniture you could put into storage, freeing up space to use for whatever you like. You may find that you don’t need to increase spending on rent for a larger office after going through this process, thus saving you from any unnecessary spending.

  1. Create an Environment for Efficient Staff

professional-office-designA large factor in what makes your staff work best is the environment they are working in. Ask yourself this; is your office environment comfortable? Is it engaging? Is it allowing people to connect with one-another? These are the types of important questions to ask when considering a new office design.

One idea is to quiz your staff as to what changes could be made to the office to make their working day more inspiring and productive. Simply making sure your office is well-decorated and that the windows are letting in some sun can improve employee efficiency, ultimately saving you money lost through unproductivity.

You could also consider hiring a professional to design your office, they can consider your needs and come up with an office plan to help you save money in the long-term: http://www.gazelleoffice.co.uk/office-design

  1. Keep Your Office Layout Organised into Departments

It’s no surprise that time can be wasted away in the office if communication isn’t quick and simple. Wasted time often means wasted money; avoid this by grouping your departments together when planning out the design of your office. Even if your workplace is already running daily, a well-planned reshuffle can ensure longer-term productivity.

One useful tip is to consider how much crossover there is between certain departments in regards to the tools they use and the assistance they may need from each other. If you find that your sales team often need to liaison with the marketing team, place them close together when designing your ideal office to minimise time wasting and save money in the long-term.

Recently Allstar Joinery, a shop/retail/restaurant fitting company in Aberdeen posted some of their projects onto their website, which give various different tips on how to design the perfect office starting with the blueprints. Allstar design and manufacture offices for some of the biggest companies in the world. Have a look at their work here aberdeen shopfitting company allstar joinery. It will prove to be great inspiration to you and your project.

  1. Save Money by Going Green on Energy

save-energy-officePowering an office space can be costly, especially when your workplace is particularly large. Some of the more obvious ways to cut energy costs are through changing supplier and turning all electronics off at the end of the working day. However, what can be done from an office design perspective?

Consider the following few idea. You could include movement sensing lights in your design so that lighting isn’t accidentally left on. You could also arrange your desks and chairs in such a way that natural sunlight could heat and light up the office during the summer. In the winter months make sure that your office heating system isn’t losing you money unnecessarily by ensuring your boiler and radiators are working to their full potential. If you are looking to upgrade your office’s boiler, Rhino supply high-quality boilers to commercial properties at competitive prices. Gas and electricity costs can be some of the highest costs to a thriving office-based business; save money by designing your office with energy-saving in mind.

You can find more tips on saving money on business energy bills with Love Energy Savings.

4 Money Saving Methods For The Household

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Running a household can be expensive. From buying toilet paper to getting the leak on your ceiling repaired, it seems that we are constantly spending money. This is why I, Tiffany William have been asked to construct a handy, concise and easy tip guide to method which could save you and your family money for the more exciting things in life.

1. Spend your money on reusable items

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Most disposable goods are relatively cheap and convenient in modern day life; you’ll eventually have to go out and buy a replacement for the temporary item. Again and again. The amount of paper, plastic and other re-useable materials that a family bins is very bad for the environment.

With some simple changes to your shopping life and life style you’ll be able to save a surprisingly decent amount of money. For example, don’t buy paper towels, replace this with a reusable cloth towel, this might only save you a few pound on your weekly shopping- but over the course of a year could surprisingly save you up to £100.

2. Don’t buy first hand

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Perhaps there is a stigma that buying second hand is a second rate purchase, and sure, in the past this was probably true, as you might get some unexpected wear and tear in a product which you didn’t notice ‘til 2 weeks after the purchase.

This isn’t a problem in 2017, as the competition for being a second-hand merchant is higher. With websites such as eBay and Gumtree becoming larger by the day, there is a strict grading principle in which warns the potential buyer of the exact condition the product is in before they buy it.

Forget the inaccurate stigma and buy second-hand more, you’ll save a crazy amount of money doing so!

3. Buy efficient high performance products

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There is a common saying “you need to spend money to make money”. This is another example that of it. For example, let’s talk about your radiator- an old radiator often requires a lot of energy to heat up a room, due to the out dates technology which is present in the heater.

New modern radiators have a high-performance level, as well as being constructed to use as little energy as possible to operate. This means that the better the radiator you have, the less energy you’ll use. As energy costs the house-owners money monthly, it only makes sense that you invest for long time savings. Plus, energy efficient radiators are now available on a budget, with websites such as Trade Radiators, you’ll notice that you don’t have to break the bank to afford a top of the line radiator for your home. Check out trade radiators cheap flat panel radiators for more information.

4. Take advantage of the library

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Instead of subscribing to Netflix, buying e-books, enrolling in short courses, paying for a tutor to teach you French… Whatever you might be paying for personal education and entertainment, remind yourself of the library, which is free for UK citizens.

The library isn’t just useful for books. Instead of spending £6 a month on Netflix, or buying a DVD set, remember that the library stocks CDs, DVDs and even blu-rays in their locations all over the country. As in the library you can rent out for free or very inexpensive affordable rates, this is a sure fire to save you money.

Targeting Your Beauty: How To Treat Yourself

We all deserve a little TLC and pampering every once in a while. So how can we make sure we get a little luxury without feeling guilty about breaking the bank? By following some of these tips from the team at ArcheryIFAA on how to make sure your wallet looks and feels as good as you will. In this blogpost we’ll be targeting baths, spa days, nail treatments and exfoliators.

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