At Praeparo we believe we can save you money in the long term. All too often small businesses are either not marketing at all or putting effort into the wrong areas first. For many small businesses getting your own website into order will be sufficient and it is not worth doing anything else until you have done this.

We guess you have asked the question “What do people search for when they are looking for my products or services?”

But, who did you ask? Often you as the business owner are not the best person to answer this as you understand the product, services and the problems trying to be solved. It is all to often seen that a business owner makes assumptions that are just not valid for the person looking on the Search Engines.

For example, are you using keyword phrases that are very technical, in which case would a member of the public outside of the industry use such a phrase.

In any digital marketing campaign your success criteria is to increase business by a % greater than the marketing spend, i.e. go for the highest possible Return On Investment (ROI).

The simplest way to achieve this is to get as many of your website pages, facebook page or twitter tweets in front of the people looking. This is not just about how well your home page performs on the Search Engines.

First of all don’t think about keywords but ask the question “What problems am I solving with my product or service?”

We often see that website pages are written targeting the answer but you rarely get a search engine query looking for the answer but instead they state the problem and hence are looking for the answer. i.e. the searcher has no idea on the solution.

Once you have a list of problem statements you then need a page on your website dedicated to solving each problem. You should not duplicate but keep a single page focused on solving a single specific problem or need. For each question and thus each page you need to turn the questions into keywords. We would suggest selecting no more than 3 keyword sets, one primary 3 word objective and two secondary phrase sets (3-4 words each) per page. It is the primary one we will first target.

The aim is to have as many of your website pages on the first page of a search engine’s results (SERPS) that solve the searchers question. If you have the solution then it stands a good chance you have a new customer.

This is just party of your overall keyword and website content strategy that also needs to consider other elements, like brand and customer up-sell and retention.

Your ultimate aim is not to get 10,000′s of visitors a day to your website but to get very targeted visitors that make a purchase.  It is a lot better to have fewer visitors that purchase than more that just browse. Think like a high street shop, it costs money to open the shop and gets depressing if you get lots of people arriving every day but the till is empty. In fact if you don’t make a profit they typically shut up shop and relocate to another area.

At Praeparo we believe we can help you adjust your existing website so that it organically arrives at the top of the search engine results for phrases that bring purchasers. No need to spend large sums of money on adverts. You need to think of this as an iterative process just like that high street shop where you constantly manage your inventory (in your case website pages) and adjust those that don’t sell and promote more those that bring in a high ROI.

They clearly show that the England receives a massive spend in the travel and tourism sector:

• £8.3bn is the amount spent on domestic holidays in England between Jan and Sept 2011.
• £225 is the average amount spent per overnight holiday trip in England between Jan and Sept 2011.

A number of surveys predict that as money gets tight more domestic holidays will be taken, add this to the focus of the Olympics and Diamond Jubilee celebrations, 2012 is a year of opportunities to UK travel and tourism businesses.

How can you as a small business help yourself get full occupancy, more visitors to your attraction, full teaching groups, or a greater number of visitors in through the door?

Well you can compete against the large corporations. In today’s online world a simple well thought out website can get you in front of the many potential clients searching around the World Wide Web. Unlike a few years ago people will book with small websites as long as the website obeys a few simple rules:

• Has a postal address and landline phone number.
• Has an email address the same as the domain name (www.praeparo.com, sales@praeparo.com)
• Has a privacy policy.
• Has clear, relevant terms and conditions.
• Has clear descriptions and pictures.

As well as the above you must be able to take online bookings and a deposit. If you force someone to pick up a phone or write then you may well loose out on the point-in-time purchase.

This all does not have to cost you a fortune but as more people start using mobile devices like smart phones and iPads then you need a website that works well on these devices. If you have not touched your website for a few years then you will more than likely look very outdated, why not compare it with some of your competitors to see how far you have fallen behind.

2012 is the year to get your website working as people expect it to work or risk loosing valuable business.

Writing a business plan is one of the most important things an entrepreneur must do when starting a new business. However, writing a compelling business plan is easier said than done, particularly when time can be so precious. This article outlines the key resources available to UK entrepreneurs when preparing a business plan. Use them for assistance with the writing of the plan, as well as for understanding the implications of certain business decisions you make in the process, such as those regarding corporate structure, sources of funding, and more.

1. Business Plan Pro UK software

Business Plan Pro is the best-selling business plan software available for several reasons. It is easy to use, saves time, and has over 500 sample plans to get you started. It also provides a structure whereby you can complete a plan in a methodical manner, while enabling you to benefit from a helping hand at every step.

Where: Business Plan Pro is available from www.paloalto.co.uk

Cost: RRP is only £79.99 for the Standard Edition and £129.99 for the Premier Edition.

2. Business Plan Competitions

Numerous business-planning competitions are taking place in the UK at any given time. These competitions test a wide range of skills that are often neglected by entrepreneurs. By producing a credible business plan and presenting your case persuasively, you will significantly enhance your ability to secure funding. These competitions are an invaluable resource enabling you to road test your business plan in a safe environment before submitting the plan to potential investors.

The main advantages of submitting a business plan to a competition include:

• Tap into Increased Support for Entrepreneurs in the UK
• Obtain Critical Independent Analysis of Your Business Plan
• Gain Access to Mentors and Networking Opportunities
• Improve key Transferable Skills, e.g. Presentation Skills
• Enhance Your Understanding of What Investors Want

Where: Use a search engine such as Google to find a list of competitions

Cost: Entry costs are usually negligible, although some competitions limit entry to students or locals.

3. Start-up Websites

There are a number of start–up websites that can help you understand what needs to be done and how. These websites normally consist of a mix of articles and relevant products and services from third-party vendors. Most also have specific business-planning sections to help you with your plan. The following three well-known UK sites can give you some further insights into the building blocks that make up a winning business plan.

Where: www.startups.co.uk , www.clearlybusiness.com, www.bytestart.co.uk

Cost: Free

4. Government Sites

There are also a number of government websites designed to assist people in starting a business which can also help you in writing a business plan.

• Companies House www.companieshouse.gov.uk

The website contains information on incorporation procedures. It also provides annual accounts of companies which can be purchased so as to enable you to assess the financials of comparable companies.

• HMRC www.hmrc.gov.uk

HM Revenue and Customs has an easily accessible site where you can access information and calculators relating to employing people, paying VAT, paying Corporation Tax, and so on.

Where: As above

Cost: Free

5. Local advisor

Despite the availability of a range of different online resources, there are occasions when professional advice is highly recommended. While there is undoubtedly a trade off (professional advice usually costs), there are some decisions that should be made only after consultation with professionals, such as choosing the legal structure of the company. While local accountants are a natural starting point, there are also a number of other bodies that can provide information and advice, and can point you in the right direction for more complex concerns.

• Business Link www.businesslink.gov.uk

Business Link provides information, advice and support to help people start, maintain and grow their business. It is an excellent site with some really great sections and clear sign posting to additional resources. There is also a postcode search facility so you can track down your nearest local advisor.

• National Federation of Enterprise Agencies (NFEA) www.nfea.com

The National Federation of Enterprise Agencies (NFEA) is the membership body for Local Enterprise Agencies, and other similar organisations. It forms a network of independent, not-for-profit local agencies that provide a comprehensive range of free services including a facility to search for your local agency.

Where: As above

Cost: Free

6. Funding websites

Entrepreneurs need to consider their financing at the start-up stage and most will look to outside help to assist them in financing the start-up phase. A good understanding of the implications of the various sources of funding is important, not least with respect to the various obligations arising under each. At its most basic, the sources of funding are either debt based or equity based, and each class confers certain obligations on the recipient of the funds. If the business plan is used to secure funding it will need to clearly outline the benefits to the investor, and the terms of investment, as they’ll be seeking to assess their risks, as well as the ability of the firm to generate free cash flows. Outside of the traditional sources of finance, it is also worth exploring the following sites, which explain the merits of grant or VC funding. Obviously the conditions for securing either are fairly strict, so both sites will indicate which issues you should consider, as well as information on the availability of the funding.

• J4B www.j4b.co.uk

The site allows quick and simple searches of the j4b database of business grants and loans — the most comprehensive database of its kind in the UK.

• BVCA www.bvca.co.uk

This is the website for the British Venture Capital Association (BVCA) which has over 170 full members and contains a directory that enables users to search for a local member.

7. Bplans.co.uk

Bplans.co.uk contains extensive business-planning resources and is also owned by Palo Alto Software, makers of Business Plan Pro. There is an extensive back catalogue of articles, with new additions a regular occurrence. It also contains a number of free sample business plans, some calculators. and links to a range of appropriate resources.

Where: www.bplans.co.uk

Cost: Free

8. Scavenger by Cobweb

Scavenger reports are essential reading material for anyone starting up a business in the UK. The Business Opportunity Profiles are reports on specific industries and are updated frequently. With over 800 reports in total, the range includes everything from ‘Children’s Day Nursery’ profiles to ‘Coffee Shop’ profiles to a profile on ‘Complementary Therapy’.

Where: www.scavenger.net

Cost: Individual reports cost around £5

9. Sites with demographic data

There are also numerous resources you can use in assessing likely demand for your goods or services. Websites such as www.caci.co.uk/acorn and www.upmystreet.com provide extensive free demographic data about areas based on UK postcode searches. These enable you to build up profiles of the local population and are ideal when you are looking to set up a shop to serve the local community specifically. If you want to consider setting up overseas, then websites such as www.cia.gov/cia/publications/factbook/ give an excellent insight into various local conditions in advance of undertaking more detailed localised research.

Where: As above

Cost: Free

10. Your local library

Finally, libraries can be excellent resources, helping you access information from a host of disparate sources. They can be particularly useful for researching hard-to-access data relating to markets and potential suppliers.

The Business and IP Centre at the British Library www.bl.uk/bipc/ is just one example of a new resource specifically created to support entrepreneurs in the UK. It enables users to access a range of databases including Amadeus, Economist Intelligence, Mintel, Datamonitor, One Source, LexisNexis, Dialog and the Complete Business Reference Adviser (COBRA).

Alternatively, your local library may stock one of Pearson’s excellent titles on starting a business and writing a business plan. www.pearson-books.com/bplans

Summary and conclusion

Writing a winning business plan can take time and effort. However, utilizing the above resources should make the job a lot easier and help you to gain a thorough understanding of the fundamentals that underpin every successful business. Good luck!

Article content provided by: bplans.co.uk and paloalto.co.uk

When I am asked to explain why business planning is so important, my first inclination is to quote Lewis Carroll. In Alice’s Adventures in Wonderland, Alice comes to a fork in the road and asks:

“Would you tell me, please, which way I ought to go from here?”

“That depends a good deal on where you want to get to,” said the Cat.

“I don’t much care where–” said Alice.

“Then it doesn’t matter which way you go,” said the Cat.

For me this scene encapsulates perfectly the problems of not having an over-arching goal and plan for your business. Without a plan, a business is essentially rudderless, and day-to-day activities are likely to be haphazard and reactive, in stark contrast to those businesses implementing a well thought out business plan.

The following represents a list of my top five reasons a firm needs a business plan.

1. To Map the Future

A business plan is not just required to secure funding at the start-up phase, but is a vital aid to help you manage your business more effectively. By committing your thoughts to paper, you can understand your business better and also chart specific courses of action that need to be taken to improve your business. A plan can detail alternative future scenarios and set specific objectives and goals along with the resources required to achieve these goals.

By understanding your business and the market a little better and planning how best to operate within this environment, you will be well placed to ensure your long-term success.

2. To Support Growth and Secure Funding

Most businesses face investment decisions during the course of their lifetime. Often, these opportunities cannot be funded by free cash flows alone, and the business must seek external funding. However, despite the fact that the market for funding is highly competitive, all prospective lenders will require access to the company’s recent Income Statements/Profit and Loss Statements, along with an up-to-date business plan. In essence the former helps investors understand the past, whereas the business plan helps give them a window on the future.

When seeking investment in your business, it is important to clearly describe the opportunity, as investors will want to know:

• Why they would be better off investing in your business, rather than leaving money in a bank account or investing in another business?
• What the Unique Selling Proposition (USP) for the business arising from the opportunity is?
• Why people will part with their cash to buy from your business?

A well-written business plan can help you convey these points to prospective investors, helping them feel confident in you and in the thoroughness with which you have considered future scenarios. The most crucial component for them will be clear evidence of the company’s future ability to generate sufficient cash flows to meet debt obligations, while enabling the business to operate effectively.

3. To Develop and Communicate a Course of Action

A business plan helps a company assess future opportunities and commit to a particular course of action. By committing the plan to paper, all other options are effectively marginalized and the company is aligned to focus on key activities. The plan can assign milestones to specific individuals and ultimately help management to monitor progress. Once written, a plan can be disseminated quickly and will also prompt further questions and feedback by the readers helping to ensure a more collaborative plan is produced.

4. To Help Manage Cash flow

Careful management of cash flow is a fundamental requirement for all businesses. The reason is quite simple–many businesses fail, not because they are unprofitable, but because they ultimately become insolvent (i.e., are unable to pay their debts as they fall due). While the break-even point–where total revenue equals total costs–is a highly important figure for start-ups, once a business is up and running profitably, it becomes less important.

Cash flow management then becomes more vital when businesses pursue investment opportunities where there are significant cash out flows, in advance of the cash flows coming in. These opportunities need to be assessed against any seasonal variations in the business and the timing of the flows. If you are a “cash-only” business, you can bank the income immediately; however, if you sell on credit, you receive the cash in the future and hence may need to pay some of your own expenses before that income hits your account. This will put a further strain on the company’s solvency and hence a well structured business plan will help you manage funding requirements in advance.

5. To Support a Strategic Exit

Finally, at some point, the owners of the firm will decide it is time to exit. Considering the likely exit strategy in advance can help inform and direct present day decisions. The aim is to liquidate the investment, so the owner/current investors have the option of cashing out when they want.

Common exit strategies include;

• Initial Public Offering of stock (IPO’s)
• Acquisition by competitors
• Mergers
• Family succession
• Management buy-outs

Investment decisions can be taken in the present with one eye on the future via a well-thought-out business plan. For example, if the most attractive exit route appeared to be selling to a competitor, present day management and investment decisions could focus on activities that would increase the company’s attractiveness to that competitor.

Given that valuing firms is notoriously difficult and subjective, a well-written plan will clearly highlight the opportunity for the incoming investors, the value of it and increase the likelihood of a successful exit by the current owner.

Article content provided by: bplans.co.uk and paloalto.co.uk

The key aspect in any marketing strategy is to fully understand where you stand with respect to your competitors. For this, we use a SWOT analysis to identify your Strengths, Weaknesses, Opportunities and Threats. A SWOT analysis allows you to look at your environment from within and from outside.

Your strengths and weaknesses are often internal to your business environment. For example, a strength could be your pricing policy and service offerings, but a weakness could be the limitations of your research budget.

Strengths: Your strengths provide your competitive advantage over your competitors. Strengths may include: good customer service, a strong brand and/or reputation.

Weaknesses: Weaknesses pinpoint areas of concern and can include high overheads or a new untested brand.

Opportunities and threats look at the outside factors.

Opportunities: New opportunities may enable you to explore new directions. For example, a change in government policy or new technologies.

Threats: These can include factors such as a new competitor or any change in legislation that may adversely affect you.

A good way to get to the bottom of this is to workshop your employees and to talk to suppliers or friendly customers.

Once produced this is input into the marketing strategy and needs to be undertaken at regular periods. This is not a one-off task.

Praeparo are offering a 50% reduction on our strategy workshop was £995 now £495.

For this you get an expert on site for a day to discuss your website and internet marketing strategy and help you validate the current plan and discuss improvements and way forwards.

This is not a formal report generation meeting but a real person sitting down with yourselves and talking through ideas. We admit that we may not have all the answers but will either point you at a relevant resource to get an answer or we will take away the question and get back to you.

The agenda can be anything you want but we typically think a discussion around:

• Where you currently think you are?
• Where you think you are going?
• Gap analysis between you current and future state.
• Start to discuss how the gaps can be addresses.

Use our contact form or give us a call on 020 8123 8159 to start the ball rolling.

Remember, visitors hitting your website and thus purchasing don’t come by accident, as the internet gets more competitive you need to be on top of what your competitors are doing.

Note: onsite visit for UK customer within 150 miles of postcode HP22. Other will be considered but travel may incur a small charge.

Writing a business plan can seem a daunting challenge. However, this skill is a vital requirement for any entrepreneur or business seeking to increase their chances of survival. Here is a list of my top ten tips for writing that winning plan:

1. Write from the audience’s perspective

The starting point for any business plan should be the perspective of the audience. What is the purpose of the plan? Is it to secure funding? Is it to communicate the future plans for the company? The writer should tailor the plan for different audiences, as they will each have very specific requirements. For example, a potential investor will seek clear explanations detailing the proposed return on their investment and time frames for getting their money back.

2. Research the market thoroughly

The recent Dragons’ Den series on BBC 2 reiterated the importance prospective investors place on knowledge of the market and the need for entrepreneurs to thoroughly research their market. The entrepreneur should undertake market research and ensure that the plan includes reference to the market size, its predicted growth path and how they will gain access to this market. A plan for an Internet café will consider the local population, Internet penetration rates, predictions about whether it is likely to grow or decline, etc., concluding with a review of the competitive environment.

3. Understand the competition

An integral component to understanding any business environment is understanding the competition, both its nature and the bases for competition within the industry. Is it a particularly competitive environment, or one that lacks competition? How are the incumbents competing—is there a price leader evident? Finally, including a thorough understanding of the bases on which you intend to compete is vital; can you compete effectively with the existing players?

4. Attention to detail

Make the plan concise, but include enough detail to ensure the reader has sufficient information to make informed decisions. Given that the plan’s writer usually has a significant role to play in the running of the business, the plan should reflect a sense of professionalism, with no spelling mistakes, realistic assumptions, credible projections and accurate content. The writer should also consider the format of the plan, e.g., if a presentation is required, a back-up PowerPoint presentation should be created.

5. Focus on the opportunity

If you are seeking investment in your business, it is important to clearly describe the investment opportunity. Why would the investor be better off investing in your business rather than leaving money in a bank account, shares, or investing in another business? What is the Unique Selling Proposition (USP) for the business? Why will people part with their cash to buy from you?

6. Ensure all key areas are covered in the plan

Undertake research on what a business plan should contain; one good place to find this is at bplans.co.uk. Include sections on the Company, Product/Service, Market, Competition, Management Team, Marketing, Operations and Financials. The plan should also take on board the readers’ various preferences for viewing data. While many plans are predominantly textual, the plan should include some simple colour charts and spreadsheets.

7. Do the sums

The numbers will be subject to particular scrutiny. Costs should be documented in full and sales predictions should be both conservative and realistic. While costs are more certain and predictable, a crucial factor in the success or failure of the business will be the level of sales. If you are not particularly comfortable with maths, have someone assist you in preparing a simple cash flow and break-even chart. This will help the reader understand how many sales you must make to cover your costs, and also how much financing you must raise to start up successfully. Remember, at the beginning, there are a lot of start-up expenses in a period of uncertain sales volumes. If sales are on credit (including via credit card) it may take up to four weeks for you to receive the cash.

8. Executive Summary

Arguably the most important component of the plan is the Executive Summary. This is a summary of the entire plan and is usually contained at the start of the plan. It also tends to act as a key qualifier for time-pressed investors—if they like it, they will read on, if not they will go no further. It should be completed at the very end of the business planning process and should have a “wow factor” that entices them to read further. In tandem with this, the writer should also prepare a short “elevator pitch,” a five-minute overview of the key benefits of the new product/service.

9. Review process

Once you have completed your plan, have it independently reviewed. Select someone detached from the process who can offer constructive criticism on all aspects of the plan. Your local Business Link or Enterprise Agency should be able to assist with this. This review should prompt further questions that will need to be addressed in a revised draft.

10. Implement the plan

Finally, a plan should always be viewed as a living document and contain specifics regarding dates, deadlines and specific responsibilities. It should be constantly reviewed and updated, as well as being used in regular “plan versus actual” discussions. Business relies heavily on people taking actions and being accountable for them. A winning business plan will help to ensure that the business is fully focused on what is required to achieve the company’s goals.

Article content provided by: bplans.co.uk and paloalto.co.uk