bizthreads.net: Business Information for Entrepreneurs by an Entrepreneur

Choosing and Registering a Domain Name

Ready to put your business online? Do you know what it takes?

Here’s a quick look at the down and dirty of choosing and registering a domain name.

Name Selection

1. Make it simple – The easier name you can use, the better. Potential customers are less likely to remember a long domain name.
   
   Use simple spelling. Names that are hyphenated are also problematic because many people forget the hyphen and end up somewhere else.
2. Make it legal – While you may have a fun name, if it’s too close to another company’s name, it may be trademarked - meaning you could lose it down the road.
   
   Do research on the name you are thinking of using.
3. Make sure it’s available – Use a domain registry check (such as godaddy.com or networksolutions.com) to see if the name you are considering is available.

Registering Your Domain

One you’ve selected a name, it’s time to register it. Choose a reputable domain registrar (companies like networksolutions.com and godaddy.com have been around for some time and are well trusted).

Compare prices. Domain names range from a few dollars to $40 or so annually; so find out what is offered for the money you will pay.

If you let someone register your domain name for you, and they put it in their name, you may be locked out of your own site down the road if something goes wrong in your relationship.

In online business, that’s like changing the locks on the storefront and not letting the owner into their own store.

4 Keys to a Great Website

Once you have your domain name and web hosting service, you may think the trip to a wonderful website is almost over. Think again – it’s really just beginning.

As your website is designed and brought to life, there are a lot of things you need to manage what it’s doing - and not doing - to keep your customers happy.

Focus

One major mistake made by many business owners on their website is to try and tell the customers EVERYTHING about their company.

Keep in mind the average potential customer is going to pop onto your site and may decide in 30 seconds or so if they are going to stay - and if you are going to get their business.

If they have to read through pages of information to decide if you are the right company to work with, they are going to move on.

Make sure your site focuses on what you want to sell, why people should come to you, and anything else that makes you stand out in your market.

Load Speed

How long will it take someone to get your website to load?

If you have a site filled with pictures, graphics, videos, audio and other additions, people with slower connections may have a tough time getting your page to load, and may go elsewhere.

Streamline where you can.

Ease of Navigation

If a buyer has to go through various pages on your website, don’t make it difficult. Have obvious, easy to use navigation buttons to avoid frustrating them.

Contact Information

Make sure there are easy and obvious ways for customers to contact you. Not only is this good for customer service, but it also helps to build trust with potential customers. You are letting them know you are willing to talk to them.

In addition to these tips, make sure you have a central and consistent theme on your website. This way, you will begin to create your own brand and style that is visible on every page.

Do I Need a Business Attorney?

As you venture into the creation of a new small business, you may have a lot of questions. Many of these questions can be easily answered by doing research on the Internet.

Other parts of this information may well be a little touchier. You should consult with a business attorney so you know what to do and how to deal with various situations you may encounter, such as:

• Business Name – Want to use a fictitious name to run your business? A business attorney may well be your best friend in this venture.
  
  When you are choosing a name, it is important that you select one that is not being used elsewhere. It should also not be trademarked or copyrighted, to save you from legal trouble down the road.

• Taxes – A business attorney can tell you how best to structure your business for tax purposes.

• Liability – Making sure you are protected, should something go wrong with your company, is vital.
  
  Depending on the business structure you have selected, you may be personally liable for any legal actions or debts incurred by your company.

• Licensing and Registering – Whether it’s permits, licenses or business registration, there is a lot of legal paperwork that goes along with being in business.
  
  While you can do most of this yourself, making mistakes can mean big trouble from local, state and federal regulators.

• Contracts – Probably the most popular use of a business attorney is the job of checking over contracts to make sure they are in your best interest before you sign.

These are just a few of the roles a business attorney can serve for your small business. If you think you have all of these under control, you may not need an attorney’s help.

If not, you may want to consider looking for an attorney to keep an eye out for your small business’ best interests.

Home Based Business Ideas

Once you are ready to work for yourself, you may have a lot of energy to get going but not know what kind of business to put that energy into.

Here’s a look at some home business ideas that you can get up and running quickly:

• Virtual Assistant – If you have worked in an office all your life and know how to keep things running and organized, why not put that skill to use for your own profit?
  
  Virtual assistants do everything from setting up meeting and travel plans to basic bookkeeping and organizing presentations.
  
  If you have the skills, you can do this from your own home for clients all over the country or around the world.

• Gift Baskets – If you are creative and like to make things to sell, you may want to get into the gift basket business.
  
  This is a very popular business, as people always need gifts and are always looking for something different.
  
  Original ideas for gift baskets that are both useful and unique can translate to big money in a home-based business.

• Secret Shopping – Like to shop? Why not get paid for it?
  
  Companies are always looking for secret shoppers to go to their stores to make sure the business is running as smoothly as they would like it to be.
  
  You will be asked to make a purchase and take notes of the transaction. In addition to getting paid for your time, you will often be reimbursed for the purchase and able to keep the item or items you bought.

Working from home can be very rewarding. By considering some of the ideas above, it can be very lucrative as well.

Record Keeping 101

It is one of the least liked but most essential parts of running a business – record keeping. Unless you are an accountant, no one likes keeping the financial books in order.

For some, it may border on torture. But if you don’t do it properly, you will likely regret it down the road.

The best way to make your way through the maze of recordkeeping is to set up a plan before your start running your business, so you know what to records keep and where they go.

Here are some of the records you should be keeping:

• Invoices
• Receipts
• Contracts
• Important Correspondence

These all need to be kept separately to avoid a jumbled mess at the end of the year.

Make it a Regular Routine

If you’re smart, you will also make record keeping an ongoing part of your business, instead of stacking things up until the end of the year and trying to sort it all out in a frenzied panic.

If you have a small business, you likely don’t need an accountant, but you may want to enlist the help of accounting software. There are plenty of programs that will let you set up a small business account within them, such as MYOB or Quick Books, which will help you sort and separate all those papers into their appropriate categories.

If you do this as you go, instead of worrying at the end of the year, you will have a perfect print out of all expenses, payments and other financial information you need.

It is important to note that financial rules and requirements differ by state and region, so you may want to check with a CPA in your area when you are first setting up your financial record keeping program to make sure you haven’t missed anything.

3 Simple Ways to Protect Your Vital Computer Data

While the falling cost of computers, software and peripherals has helped even small businesses to automate on a larger scale, they have also become vulnerable to attacks from within and from the outside.

Here are some simple tips to protect your vital computer data from falling into the wrong hands.

Use Passwords for Different Levels of Work

If your employees are working on the same computers or using common servers, then restrict them to their level by using different passwords. This will keep your data safe.

Remember to change your passwords frequently and keep your current password list secure.

Use Good Anti-Virus Software

If you are using the Internet or exchanging data between different storage media like CD’s and pen drives, then you need to install a good anti-virus software program. 

The program should not only detect viruses and Trojans, but also remove them without damaging your files.

Don’t try to save money by installing free anti-virus software that can only detect a limited number of viruses.

Restrict the type of websites that your employees can visit to lower the chances of an infection.

Perform Multiple Backups and Store Them in a Secure Place

Do not allow your employees to use pen drives or mobile data storage devices with USB ports.

Perform multiple backups of your data and store them at different places that are under lock and key. Your accounting and inventory package should have a password- enabled backup and restore program so that only you can take the backup of data.

Even though computers have made your life so much easier, overlooking these cautions will open the door for misuse of your vital data.

How to Determine When it’s Time to Redo Your Office

If you have conducted your business from your office or your retail store for quite some time, then there could be a time when change will not be just an option but a necessity.

Here are some ways to determine if it is time to redo your office.

When Things Begin To Peel Off

If you have wallpaper peeling off the walls or if the vinyl flooring and desktops start to warp, then it’s time to take some action to spruce up your office.

If you delay it any longer, then you might have clients tripping over the floor (a legal liability), or small children pulling at the remaining wallpaper on the walls.

When Your Needs Change

After a few years in business, you may notice that you require your computer, fax machine or other materials in different locations.

If you had not made these arrangements previously, then you can now redo your office and place critical items correctly.

When Space Falls Short

If you feel that your growing business requires more space for to handle your ever-increasing client base, then you will need to make the necessary changes.

When You Have Redesigned Other Aspects of the Business

If you have re-designed your logo or if you have changed your business identity, then you will need to incorporate these changes into your office to reflect the new look.

When You Just Get Bored

If you have the money, and if you are just plain bored with the look of your office, then you can make a few changes to rekindle the passion. Just remember to make it better than it was before instead of just going for an artistic change.

Keep these hints in mind and redo your office according to your existing budget when the time is right.

Advantages of Having Online Suppliers for Your Small Business

The winds of change have affected the way people live, shop and do business. You might have bought that new swanky mobile phone and even registered your small business on the Internet.

But have you decided to start purchasing your inventory online? Here are some advantages of having online suppliers for your small business.

No Boundaries: In the past, traditional purchasing would have meant searching for suppliers that were near your place of business.

By going online you can reach out to any supplier that might be in another state or even in another country.

Wider Choice: By going online, you have access to a wider choice on both suppliers and products.

This can help you in increasing your product offerings; and your clients will benefit by getting access to an increased variety of products.

Product and Rate Comparison: By going online, you will be able to do an online comparison of various products and their rates, so that you can get the best possible quality at the lowest price.

Be sure to calculate the shipping costs before placing an order. If your shipment is ordered from another country, then make sure you include customs duties and other charges.

You Can Do Business 24/7: You can post product inquiries, receive quotes and place your orders on a 24/7 basis.

This will enable you to save valuable time and money.

You Can Create A Niche Market: By scratching under the virtual surface of your market, you can ferret out suppliers that deal in rare or extremely high quality products.

By joining hands with them, you can stock those products and carve out a niche market for your small business.

Use the power of the Internet to your advantage and forge virtual ties with your suppliers to locate and procure your products online.

How to Keep Your Office Equipment Running Smoothly

With the business world going high-tech, even small businesses need to have a certain degree of automation to speed up their daily work.

Computers, copy, and fax machines are among the more common machines that small businesses use. Here are some ways to ensure that your office equipments perform smoothly.

Installed in the Right Place by the Right People

It is very important to get office equipments installed by the right people authorized to do so. Trying to cut corners by letting inexperienced people install them could literally burn your fingers.

The equipment should also be installed in the right location, so that they are isolated from heat, dust and vibrations.

Use with Care

You should use the equipment with care, and instruct your employees to do the same. Banging on your computers or on the copier isn’t going to make them run any faster - but is surely going to damage them.

Keep an eye on your employees to make sure that they are not mistreating the equipment.

Preventive Maintenance Is Key

You should hire the right people to maintain all your office equipment. They should regularly come to service the machines and should also be available in case of an unexpected breakdown.

Your service provider should have the right mix of testing equipment with experienced staff to look after your office equipment.

It is not only important to procure the right quality equipment for your office, but also look after it properly. If you do this, you’ll save lots of time and money in the long run.

How to Child-Proof Your Home Office

While you may save a lot of time and money by working from your home office, it is also essential to ensure that your home office is safe for your children.

Children are naturally very curious - and given below are some tips to ensure that your children are safe and your home office functions well.

Lock Up All Items That Could End Up In Their Mouths

Small children tend to put everything in their mouths.

Make sure you lock up tiny things such as pins, paper clips, erasers etc. in your side cabinets or drawers so that they can’t get their hands on those items.

Make Sure That Your Desk Has Rounded Edges

Your office desk and any other furniture should have rounded edges. There should not be any sharp edges in your home office that could injure your children.

Seal All Electrical Outlets

You should use dummy plugs to seal all electrical outlets so that children can’t insert their fingers or pencils into them.

The plugs should fit tightly so that only an adult can remove them.

Keep Your Computer, Coffee Maker and Printer Out Of Reach

You should shift your office equipment to a high table or desk, so that children cannot reach them.

Make sure that the cables to these machines also run at a good height, so that children cannot pull at them.

Ensure That Your Children Play Away From the Door

If your home office door opens inwards, then make sure that your children stay away from the door. Anyone walking in might invariably injure your children if he or she suddenly opens the door.

Even if you have the joy of watching your children from your home office, a little extra care is required to make sure that they stay safe.