If you are a savvy entrepreneur with an extraordinary idea, getting a startup running may feel quite overwhelming. However, the rewards will be well worth it in the end. Launching a brand is an inspiring journey that most entrepreneurs live for, although, several challenges can be initially demotivating. For this reason, you will need to evaluate all the basics of starting a business. As your main focus won’t just be on your products or services, the following essential financial tips will keep your business running while you find ways to implement notable growth along the way.
Payroll And Business Tax
You probably already know you will need to register your business for tax requirements to ensure you are compliant right from the start. However, you may not have considered the details of payroll and how crucial it is for business financial affairs. You will need to learn how to do payroll UK and uncover the specifics according to your region. You will need to be registered as an employer and outline the basics of the pay as you earn scheme for your employees, even if you have only employed one person.
Cash Flow Management
One of the most common reasons startups fail is cash flow issues that could have been avoided. Cash flow issues can quickly snowball into frustrating and stressful concerns that can ultimately have your business shut its doors. You should know how every cent of your businesses funds is spent and where it comes from. Monitoring cash flow means being aware of your financial situation. You will therefore be able to make changes to expenses or other spends that can keep your business afloat during trying times. To best manage cash flow, you should craft a detailed budget and stick to it strictly.
Limit Fixed Expenses
You may feel inclined to go even a little bit overboard in the beginning while launching your brand, although this will be a notable mistake that may cost you dearly later on. Rather than overspending, in the beginning, you should make an active effort to limit all fixed expenses to the bare minimums. Limiting fixed costs means you will be less likely to have to downscale your business in the future. Downscaling might be considered an effort to keep the lights on, although the details of restructuring a business often illuminate significant loss in the process.
Outsourcing To Save Costs
Outsourcing is one of the most money-savvy moves business owners can make. While startups and smaller-scale businesses are tasked with running and growing with only minimal funds, outsourcing is the solution to implement growth. This is because outsourcing workflows from entire departments can help you access industry experts for a fraction of the cost when compared to average salaries of expert employees. You can outsource departments from marketing to financials and even human resources. This means your business can ultimately function with far fewer employees, drastically reducing your overall spend on wages.
Typically the challenge has been to get up from your desk or off your couch, strap on a pair of shoes, and go for a jog. That was what we considered to be that tough form of exercise that everyone knew was important, but no one wanted to do.
Although as we spend more and more time online, staring at screens and considering our virtual spaces, getting a workout done to our physical selves might look to be the easier one. We don’t even consider the fact that we have to take care of our mental health while we were clicking and tapping our phones and laptops to no end.
Too Much of Anything Is Not Good
Getting into a good workout routine is key, and once you are able to do so, you should be applauded, but every expert and trainer will tell you that you shouldn’t do intense workouts every day. Your body needs to take time off. You are pulling and flexing your muscles as you exercise, and these same muscles need to heal and repair themselves to grow stronger. That’s not to say that you should lay in bed all morning after a previous day of working out (in fact, you should always be stretching every day), but balancing your time properly is essential. You can get tired of anything, even having a wild night in London having someone escort you to the restaurants and clubs that get top reviews.
This is especially true with the internet. Of course, it is a good thing that we can be so connected so easily at all times, no matter where we all are in the world. It means friends can always chat, work can always get done quicker, every bit of information can be shared, and great fun can be had. But always having it close to you (with your mobile in your pocket) is certainly not the best way to go about it. Getting too comfortable with this level of immediacy will affect your expectations for everything else in life. It’s amazing that you can order a product and have the package arrive on your doorstep the next day, that you can stream almost any tv or movie or play any video game right away, but it makes engaging with ‘reality’ that much more difficult and dispiriting.
You think exercising every day is a good thing until you injure yourself doing it, and likewise, you think spending every waking moment online is good until you make a post you regret, order something you didn’t really want, or maybe trust someone you shouldn’t have and get scammed or hurt.
Take Regular Breaks
‘Moderation is the key’ is a paraphrasing of the general attitude of Greek philosopher Aristotle. It may be several thousand years old, but it is more relevant than ever. Work may demand that you be available to answer email throughout the day, and it’s become normal that we ‘escape’ this grind by doom scrolling through our social media news feeds, but regardless of what we are looking at, the fact that we are looking at all is the problem.
That’s why non-screen activities should be embraced, whether it be reading a book made out of paper or puzzle-making or knitting, or going outside for work and yes, exercising or kicking a ball around. Making an ironclad schedule might not be possible, but try to set aside one hour a day of not using the internet. At first, you could sneak that hour into other activities, like some daily chores or even cooking (which would mean not listening to podcasts while vacuuming or quickly rushing to double-check the recipe!).
Just as plenty of parents are able to put ‘locks’ on their kids’ electronic devices to make sure they don’t spend all day with them, have a friend or loved one do the same for you, putting a password on your mobile for a certain hour or two of the day. One of the best ways to do this is to cordon off areas of your home and call them ‘no-phone zones’. Have certain rooms not be allowed to have a phone or computer in it for part of the morning, evening, or afternoon.
Keeping a Positive Attitude
Saying that 2020 was a lousy year is putting it mildly, and it was too easy to find negative and dispiriting news whenever you started to check any news, sports, or entertainment-focused apps. The fact that we all were going through the same thing is slightly heartening, but that just meant going to friends’ social media pages was the same thing over and over, because either nothing different happened, or something terrible did.
Doom-scrolling is the term given to just going through newsfeeds and seeing all the bad news over and over, with little variation. It’s easy to get sucked into reading people snapping at each other and posting memes about it, because seeing other people ‘work out’ their problems can help you make you temporarily forget yours. But that doesn’t mean it’s good for us, or for how you feel about your own mental health.
Part of getting past this is certainly putting the mobile or laptop down, but it should definitely be acknowledged that the internet has some solutions for this as well. It’s good to find articles that proclaim that social media use can certainly be a net positive for mental health, but this always comes with some caveats.
You have to be the one to decide not to post a snide remark. You have to be the one to take a moment and consider that maybe the person misinterpreted your comment and that you might be misinterpreting theirs. It sounds silly to think that after almost three decades of the internet being part of our lives that we all can’t detect sarcasm, but there’s not much body language or vocal inflections to interpret in a message. Giving people the benefit of the doubt can definitely make you happier.
These are my top 6 most listened to Electronic/Trance podcasts so far this year:
1. Tiesto's Club Life
Week after week Tiesto's club life provides consistent quality electronic music. The hour long weekly show has a mix of melodic and uplifting trance. I listened to the two part Christmas special several times as it had some of the best songs of 2008 including some from Tiesto's own In Search of Sunrise album.
2. Armin Van Buuren's - A State of Trance
Armin's podcast introduced me to one of my favorite songs of last year, Sunlounger & Zara - Lost (Club Mix Edit). His weekly 20 -25 min podcast provides equally as good quality electronic music as Tiesto and is often a great place to hear Armin's own tracks before they are released.
3. James Vardil's - Monthly Mix
Ex ImAFish founder James 'Yammez' Vardil's monthly funky house mix combines a great mix of new and classic tracks. The podcast goes from strength to strength with February's podcast being the best yet.
4. Above & Beyond's Trance Around the World
The UK's best trance DJ's Trance Around the World podcast provides 2 hours of weekly trance including guest mixes and tracks from upcoming albums. I can see Above and Beyond topping DJ lists in the years to come.
5. Funky House London Style
A monthly house podcast that provides consistent funky house music.
6. Sean Tyas' Podcast
Hot off his recent essential mix, Sean Tyas' podcast is my most recent addition in iTunes. It has a nice trance feel and the tracks are hot and consistent.
It's been a while since I blogged about music but with the Miami Winter Music Festival coming up it seemed like a good time to mention my two favourite trance podcasts. They come from no less than two of the biggest names in trance music and their weekly updates are well worth listening to:
Both can be found within iTunes or from the sites above.