● Laura Thornberry ●: money

Whether you’re just about to launch a start-up or your business is ten years old, you should always be thinking of innovative ways to attract new customers and retain existing ones. This essentially comes down to your marketing strategy and some trial-and-error processes to figure out what works for your company and what doesn’t. Read on for some helpful tips.

1) Audit Your Website

Nowadays, it’s absolutely crucial for all companies to have a fully functional website. Potential customers will use the website to gauge the value of the products or services, 24 hours a day. Assess your website or contact an SEO agency to carry out an audit on your behalf so that you can figure out some areas for improvement, and therefore attract more traffic to the site.

Consider the following when auditing your site:

· Does your website align with your brand values?

· Is your website responsive across all devices?

· Does your website load quickly?

· Does your website run on HTTPs?

· Does your website contain any broken links?

· Does your website contain enough relevant content and keywords?

2) Share on Social Media

The online world doesn’t just refer to your website. Social media is another great way to advertise your products or services to a wider audience. Employ a graphic designer or try your hand at creating your own on Canva or another design tool so that you can share stunning visuals on your social pages. Make use of appropriate hashtags and ensure your captions are captivating.

You should also consider the best time to post on social media, as this is crucial for boosting engagement. This will involve some experimentation, but you could also look at the Instagram Insights tool if you have a business account to get an idea of when your followers are usually active.

3) Launch Some Google Ads

Goole Ads allow you to get to the top of Google’s Search Engine Results Page so that you stand out amongst your competitors. Again, this is another way to get notices online, but you’ll need to do your research so that you are targeting appropriate keywords. You may require some additional support with this, but it will be worth it for the ROI.

4) Giveaway Merchandise

Promotional merchandise is a fantastic way to appeal to your target audience and make yourselves more memorable. Here are some examples of how you can use branded items to promote your business.

· Take branded stationery, such as pens and notepads, along to your pitch meetings

· If you’re an eCommerce company, add a small gift to customers’ online orders

· Launch a competition on social media, in which a selection of branded items form the prize

· If you own a store or restaurant, give away promotional merchandise with each purchase

These are just a few ideas to get you started, but there are plenty of other things you can do with promotional items. Just make sure the items you choose are illustrative of your brand. For instance, if you own a beauty salon, you could give away little lip glosses or nail polish. Don’t worry if your branded merchandise campaign doesn’t result in a large influx of sales; it’s more about building relationships.

5) Concentrate on Customer Retention

It’s usually a lot easier and more affordable to retain existing clients/customers than it is to attract new ones, and handy because they tend to spread the news about how great you are. Be sure to inform them of any changes to your business that might affect your relationships, engage with them through emails and social media and encourage them to leave you feedback on Trustpilot and other review sites.

The above suggestions merely scratch the surface when it comes to marketing, but should give you a few ideas to inspire you to take your marketing campaign to the next level.

Do you use any of these ways to market your business? What other tips do you have?

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As a business owner, no matter how big or small, it is crucial to effectively manage your finances to ensure the business remains stable and successful. This requires an education; you will need accounting skills, like how to apply for a loan or how to draft a financial statement. Make sure you’re clued up on all of the finance related terminology, like VAT, PAYE, corporation tax, etc. Important financial decisions will need to be made even before you launch your business and extra resources might be necessary.

All limited companies are required by law to have a separate business account. Sole traders don’t have to, but it might save you some finance related headaches in the future to have a unique bank account specifically for your business. It’s probably worth investing in some sort of accounting software. Even if you’re running something completely unique, like a farm, there is farm accounting software that can help you keep things in order. Often, this type of software is used in conjunction with a professional accountant to keep on top of your financial obligations on an ongoing basis, like submitting tax returns.

Keep an eye on your cashflow at all times. You can do so by creating a cashflow statement and forecast. Your accounting software should contain functionality that allows you to download a cashflow report, but if not, they’re not too difficult to make yourself. These statements essentially show how much money is coming in and going out of your business over a particular period, allowing you to ensure there is enough cash to operate your business effectively. You may need to take out a loan at some point. This can be scary, but it will be worth it because it will allow you to buy the equipment you need and hire staff to help you get your business of the ground.

Don’t forget to pay yourself. It can be easy to get carried away and invest any extra capital back into the business to ensure it continually grows. Seeking out opportunities for growth is crucial and you should certainly keep some money aside for this, however, you play an important role in your company and should therefore be compensated accordingly.

As a business owner, one thing you should definitely start doing is planning ahead. There will always be random, unforeseen issues, so it’s crucial to keep your finances in order so that these issues can be dealt with, with limited repercussions. You could even create a “rainy day fund”, savings that mean you don’t have to rely on things like credit cards or overdrafts to cover unexpected fees.

Ultimately, managing your finances should not be an afterthought, especially if you want to survive long-term.

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Can you imagine a world where you don’t need to stress about money? You know there is enough to cover your bills, and if an emergency was to crop up, you have savings to tackle it. As well as being able to live the lifestyle that you want? If you make the effort to become financially stable, you will be able to do just that. Let’s have a look at some of the things you can do to achieve it:

Make Sure Finances Are Personal

It essential to make your finances personal to you, and this doesn’t mean avoiding talking about them. To make your finances personal, you just need to stop concerning yourself with others and making a comparison. Focus on your own situation rather than concerning yourself with another financial situation.

This is one of the most vital parts that will help you achieve the financial stability you’re after. We are all guilty of comparing ourselves to others, but it’s important to concentrate on your finances alone. Try not to concern yourself with the new car your neighbour has bought, or the holiday your sister is going on, chances are you have other things to spend your money on. Maybe you are looking for a house for sale and you need to save for your deposit, or you are paying off your debts to become debt-free.

Make a Budget

Budgeting is likely something that you have heard before. And they aren’t as bad as they actually sound. It should be used as a tool not as something to restrict you or make you unhappy. It’s definitely the best way to manage your money and ensure things get paid when they need to be. There are always essentials that need to pay, so make a plan to do this on time every month. If you find that you are overspending on your essentials, you need to look for ways to increase your income or reduce your spending. However, the problem usually lies with other spending when it comes to failing on a budget. When you have a budget, you can also identify where you may be able to save money for a good financial future.

Always Live Below Your Means

This is again, something that you have probably have heard before. You most definitely heard about people living to their means and then struggling to afford luxuries or extras. You should make sure you make a budget and create a living expenditure that is below your means instead of spending right to the mark. If you live below your means, you can almost guarantee that you are covered if you need to tackle any emergency, or if you want to save.

Build an Emergency Fund

As well as thinking about your future such as retirement or paying off your debts, you should also make sure you build an emergency fund. Having an emergency fund is your way of protecting yourself against anything unexpected. You never know when something bad might happen, losing a job with a regular salary can really hinder someone financial security if they have no emergency fund.

Pay Off Your Debt

If you have any debt, it will likely stand in the way of you having financial security. Once you are aware of how much you are able to comfortably spend, using your budgeting, and when you have built an emergency fund, you can focus on getting rid of any debt. You should pay credit cards and other high-interest debts first, it’s best to avoid any future debt on these while you are trying to clear them. Bear in mind that if you have signed a contract for a term, it doesn’t necessarily mean you can’t pay it off sooner. If you want to keep on top of the debts that you have, it best to track your credit score. You can do this for free, and doing it can you the best chance of getting straight with your finances.

Financial security is where you will have the freedom to live a life where you don’t need to worry about how you will pay the next bill that comes your way. For some people, this may seem like an unachievable dream but it is something that everyone is capable of achieving.

These tips should help you on your way to becoming financially secure, just remember it does take a little effort but once you are in the swing of it it will become second nature.

Do you have any other tips that you are using to help you get you there?

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Happy New Year!

2020 may not have been the year we had hoped for and it is definitely one we wont forget. This year seemed to be full of negativity and uncertain times, with Coronavirus, multiple lockdowns, working from home and staying indoors, it's definitely been a rollercoaster year. But one positive for me was managing to continuously work on improving my finances and working towards a savings goal which I'm extremely happy and proud about. I'm hoping that this will continue in 2021, in an attempt to reach an ever bigger goal of mine financially, and here's 6 ways I'm going to use to help me with my targets and get on top of my finances.

1. Savings Account - I mentioned that in 2020 I was lucky enough to reach my savings goal of 5 figures. This was mainly due to the multiple lockdowns, where I wasn't spending as much money as I would usually. This may not seem like a lot of money but having somewhere to direct that money to definitely helped. Every month, I would deposit an amount of money from my wages, along with an money I had earnt through sponsored posts and advertising. This method really worked for me as I was able to physically see how much each month I was putting away to be saved, yet still leaving enough money in my main account for the month ahead, and whatever I have left in my account before payday, that money also gets transferred to my savings.

2. Spend On Essentials - This is definitely something that I've been working on over the last few months. I've been quite strict on myself when it comes to spending, and making sure that I only purchase necessary and essential items. A few ways I've managed this is by trying to use up my beauty stash, re-wear and re-style clothing items for example. It's definitely been important for me to use what I already have in order to save some extra pounds.

3. Use Discount Codes and Vouchers - I'll admit it, I always seem to be on the hunt for discounts and vouchers, especially when shopping online. I always check my emails for discount codes, or simply have a quick google sometimes strikes lucky. I've also got both the Honey and Pouch extensions added to my internet browser, hoping that one of them will give me some savings when taking my shopping basket to the checkout. You may only save a few pounds each time, but it definitely adds up over time, and I can assure you, the money is better in your pocket!

4. Sell Unwanted Items - This is perfect for decluttering your home and getting rid of unused, unwanted or unworn items, and giving them a better home somewhere else. I've been listing unwanted clothing, shoes and other bits and bobs on eBay recently, and it's definitely helped me save a few coins whilst emptying my wardrobe.

5. Save Up Spare Change - This is a really quick and simple way to add some extra funds into your life. Every time you get change or find some money laying around in your coat or handbag, add it to a money jar or money box. It may only seem small to begin with, but over the year it will definitely add up. I've done this previously a few years ago, and had just over £100 in change!

6. Find Cheaper Alternatives - This doesn't have to be for everything, as many of us will definitely have holy grail items or products we just cant live without. But if you're on the hunt for something new, definitely try out cheaper brands/products, as you may really be surprised with what you can find. There are so many brands offering such affordable but high quality products, you'll definitely be able to save some money by testing them out, and you never know, you may repurchase in the future!

What ways will you be improving your finances in 2021? Do you have any money goals?

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