Congratulations to Noel Lennon, creator of Lennon Lines and the innovative Easy Anchor which featured on this week's Dragon's Den. Monaghan man, Noel Lennon from Latton, is an engineer by trade applied for Dragon's Den a number of months ago after completing his website www.lennonlines.ie and branding with Amatino Partners. Based on his application, interview and the innovative design of the product, Noel was invited to present his pitch to the Dragons earlier this year.
A daunting task for any entrepreneur is facing a team of hungry Dragons but Noel stayed calm and faced them in the battle for investment.
If you have an existing website which needs to be replaced or you would like to create a website to promote your business, your local County Enterprise Board currently have funding. The requirements and funding available varies from county to county but currently Cavan County Enterprise Board will grant up to €750 of the cost of a website and Monaghan County Enterprise Board will grant up to €1000 providing the website has an eCommerce shopping facilty.
For many businesses, a website can be a really useful promotional tool and a great way of targeting customers to your business. Your website is available to your customers, 24 hours a day, 7 days a week so it is vital that it reflects your business correctly.
Survival and failure of any business comes down to a huge number of reasons from financial restrictions right through to the viability of the business idea itself.
One reason that some businesses fail is that entrepreneurs and business owners think that they can be all things to all people. Many feel that no one else will carry out the work to the same standard and find it difficult to release control of the business in order for it to grow.
In a start up situation this is understandable and manageable as the needs of the business are limited but there are two main issues:
1. Holding on to control of all areas of the business restrict its growth as the business owner can be consumed by the business and they end up working “in” the business the entire time and forget to work “on” the business to develop it.
2.
Congratulations to Sinead and Kathleen Coyle from Top Tier cakes who have been nominated for the prestigious Weddings Online Awards in the category of Wedding Cake Designer of the Year.
For anyone who hasn't tried one of Top Tier's fantastic creations, we would recommend you visit their website to see their portfolio of wedding, christening and birthday cakes. To vote for Top Tier visit their website www.toptier.ie
This weekend, our Managing Partner, Barry Kieran will be featured in the Sunday Business Post newspaper for a feature in the Out on Your Own section of paper. The topic of the article is about Buying a Business and gives advice to those thinking of starting up a business or growing their existing business through acquiring an existing business.
Check out the article this Sunday and let us know what you think by leaving comments on our blog. If you are interested in more information on this topic or would like some advice on another business issue, contact Barry Kieran by emailing barry@amatino.ie or calling 047 84955.
Enterprise Ireland's aim is to increase Irish exports across the world. The success of Irish exports will greatly effect the recovery of the Irish economy and employment rates. Enterprise Ireland are supporting businesses by upskilling business owners to help them face the challenges of the exporting market and have developed a series of workshops to help.
The workshops are aimed at rapidly embedding the proven tools of best international selling practice into Irish companies across all industry sectors who are looking to upskill for export growth and who want access to selling skills development in a readily accessible and user-friendly format.
Enterprise Ireland are tapping into the experience of their team of international market advisers, past and present, and have developed the Excel at Export Selling Workshop Series to deliberately focus on the three fundamental building blocks of successful international selling:
- Developing a compelling Customer Value Proposition.
- Following a systematic repeatable Sales Process.
- Executing a well-defined Route-to-Market strategy.
These workshops are designed to equip Irish companies with the skills to truly make an impact on international markets and master the fundamentals of export selling. For more information on the workshops click here http://www.enterprise-ireland.com/en/Events/OurEvents/Excel-at-Export-Selling-Series-/
Marketing is all about communication and it is vital to stay as close to your customers as possible through regular communication. The age of social media has made communication even stronger as we can communicate through Linkedin, Facebook and Twitter within seconds. The old reliable traditional method of direct mail may seem out of date but its potential impact should not be overlooked.
For your direct marketing campaign to work, the most important thing is to make sure that customers don't mistake your communication with Junk Mail.
Tips for Direct Marketing
1.Your customer list is key to the success of your campaign and it is essential that it is up to date and accurate.
Attic Robes is one of our most recent marketing clients. The brainchild of Castleblayney man, Brian Mc Caul, Attic Robes is a very innovative solution for all home-owners with a lack of storage space in their homes. Grainne Brady, Marketing Consultant at Amatino Partners has been working with Attic Robes over the last number of weeks to create a strong and recognisable brand for Attic Robes.
Attic Robes solves storage problems, by creating space without the need to get the builders in as it makes the most of your attic space for storage.
Amatino Partners are bringing their business roadshow to the Headfort Arms Hotel, Kells on Wednesday the 5th of October.
We are offering local business owners a
free, private consultation to discuss any issues regarding accounts, taxation, grants, marketing or other business issues.
We offer a full range of competitively priced services to our clients including:
• Preparation of Accounts & Taxation Returns
• Tax Planning & Consultancy
• Outsourced bookkeeping & payroll
• Assistance with bank and grant applications
• Marketing Consultancy
• Business Advisory services including debtor & cashflow management programmes, cost reduction programmes, ISO quality assurance and assistance with public sector tendering.
To Book a place, call Grainne Brady on 047 84955 or email
grainne@amatino.ie
Amatino Partners are bringing their business roadshow to the Headfort Arms Hotel, Kells on Wednesday the 5th of October.
We are offering local business owners a
free, private consultation to discuss any issues regarding accounts, taxation, grants, marketing or other business issues.
We offer a full range of competitively priced services to our clients including:
• Preparation of Accounts & Taxation Returns
• Tax Planning & Consultancy
• Outsourced bookkeeping & payroll
• Assistance with bank and grant applications
• Marketing Consultancy
• Business Advisory services including debtor & cashflow management programmes, cost reduction programmes, ISO quality assurance and assistance with public sector tendering.
To Book a place, call Grainne Brady on 047 84955 or email
grainne@amatino.ie
Its vital to remember the difference between Linkedin and Facebook. Facebook is a social way of communicating with your friends and if you have a Facebook Business this will be more professional but on Linkedin, remember this is the showcase for your business so remember to be professional.
Setting up a Linked in Profile
1. Register your details on www.linkedin.com
2.
Linkedin is like the professional version of Facebook, it allows you to add a profile of yourself, detailing your experience, qualifications and the business that you work in.
Linkedin - who should use it?
1. Small Businesses & Startup Businesses - Linkedin allows these businesses to create a profile for the business and the managers/employees. It gives prospective clients and customers a great understanding of who you are, your experience and your offering.
2.
At Amatino Partners we offer our clients a wide range of outsourced administration and bookkeeping services. Our experienced, qualified staff provide excellent service and significant cost savings over employing equivalent full-time employees.
These services can be carried out on-site at your premises or alternatively from our offices in Cavan or Monaghan.
The Services
- Secretarial Services – letters / typing / filing / appointment scheduling
- Bookkeeping & Accounts:
- Sales & Purchases Invoicing / Processing;
- Bank reconciliations;
- Supplier payments;
- VAT Returns;
- Payroll and Employee Expenses.
- PAYE / PRSI Returns
- Subcontractor payments & RCT Returns
- Credit Control – fully managed debtors / credit control function including issuing debtor statements, phonecalls & letters to debtors, regular reporting and meeting with business owners.
The Benefits
- Experienced Staff who will use the most efficient and up to date methods available
- All bookkeeping work is supervised by qualified accountancy staff
- Free up business owner’s time to concentrate on other parts of the business
- Ensures quality & accuracy of internal accounts reports
- Provide the business owners with regular reports – sales / bank / debtors / profitability / suppliers.
- Significant Cost Savings over full-time Employees:
- Lower annual cost
- No Employer’s PRSI
- No Holiday Pay
- No Redundancy Entitlements
- No training costs
- No / Reduced software costs
For a free consultation and quotation in respect of our outsourced services contact Geoff Foster geoff@amatino.ie or Barry Kieran barry@amatino.ie
When starting up a new business, launching a new product or simply approaching a new target market, marketing may be an expense that business owner will try to avoid.
Unfortunatley, you can have the best product, service or business but if you cannot communicate the benefits of these to your customers, you won't be able to grow your sales. I would always advise, thinking ahead when starting up. Small investment throughout the year can really pay off and it will strengthen your brand in the long run.
As business gets tougher, you can be sure that your competition will try to win over your customers and they will do this through marketing. Don't wait for your competition to steal your customers.
Most businesses are tightening their belts rather than spending and when you suggest marketing, many business owners take a sharp intake of breath. In reality, tightening up on spending can only save so much, if you cut back or remove your marketing budget entirely, you could be cutting more than just your costs.
Marketing is not some fluffy idea and neither does it have to cost a fortune. Simple, effective marketing is within your business reach.
Amatino Partners are the very proud sponsors of the
Cancer Tractor Run which involves a non-stop tractor run from Mizen Head in West Cork to Malin Head in North Donegal using a vintage Ford 4600 Tractor. This exciting and novel idea is in aid of St Christopher's Hospice in Cavan and Monaghan's Cancer Homecare/Palliative Care who support cancer patients and their families.
The tractor will run non-stop and will pull an accommodation unit which will house fuel and the relay team of drivers. The accommodation unit will advertise the businesses and individuals who have supported the event so if you would like to donate, call
Michael O Reilly on 085 1741923.
If you are in business or thinking of starting a business then join us in the Riverfront Hotel in Virginia on Wednesday the 15th of June for our Business Road show from 2-8pm. We will have accountants, business advisors, tax and marketing consultants there on the day to give you advice and answer any queries you may have.
So if you are interested in debt management, product costing, how to best market your business or pass your business on to the next generation, then call and book a place now.
Appointments are private and will last about an hour so book you place in advance by calling 047 84955 or 049 4371211.
We are offering a FREE one-to-one business workshop on the 17th of May in the Shirley Arms Hotel from 2-7pm. We will provide practical and relevant advice on how to deal with the following business challenges:
• Debt Management – Create workable solutions to collect cash quicker.
• Stock Management – Holding stock costs you dearly if not properly managed, we can help you manage your stock effectively.
• Product Margins – Do you know your best/worst performing products with regard to cashflow?
• Cost Management – In these challenging times, the businesses which are surviving best are getting more for less from their available sources. We can help you introduce workable strategies to ensure your business costs are managed efficiently.
• Marketing – Practical Marketing activities can help you retain your customer base and attract new customers to your business.
At Amatino Partners, we work with businesses in a wide variety of sectors and we can advise you on the current best practices for your sector.
If you are in business in the Monaghan area and would be interested in increasing your sales through referrals from fellow business people, then BNI may be for you. This well known networking model has been successful all over the world and now it has come to Monaghan.
How can it help my business?
With 20-40 members in each group, it is an ideal place to promote your business, increase awareness of what you do and generate work from other businesses.
There is only one business place for each category available so that means there is no direct competition within the group or conflict on your category.
What types of businesses can join?
The Monaghan BNI group has members in a wide variety of categories from a building contractor and cleaning company right through to a photographer, florist, accountant and investment advisor. So really any business can join the group as long as their category has not yet been filled.
Can I visit the group to see it in action?
Yes, we meet on a weekly basis in the Westenra Hotel in Monaghan town for a breakfast meeting that starts at 7am sharp and the meeting finishes at 8.30am.
Writing a business plan is a crucial first step when setting up a business. A business plan is the blueprints for your business it can help you navigate and manage your company while also helping potential investors, partners, and lenders understand your business strategy and your chances at success. It can help you describe your product or service, detail your marketing strategy, and lay out your sales and operational forecasts, including the ever important cash-flow projection so as to keep your business on track for profits.
The Irish County Enterprise Board has a grant available for new micro enterprises in the first 18 months of start up. This grant will be available to:
• Community groups,
• Sole traders,
• Limited companies,
• Partnerships.
For this grant to be available to you, you must fulfill the following criteria…
• A domestically traded services business with the potential to trade globally,
• A business which will recruit up to 10 employees,
• A business situated within the CEB’s geographic region,
• A business which on growth may or may not fit the Enterprise Ireland portfolio,
• Unemployed persons where the potential for deadweight and displacement does not exist,
• A manufacturing or globally traded services business,
• A domestically traded services business being established by a female returning to the workforce.
There is a maximum grant of €15,000 per full time employment created this shall apply in respect of any employment support grant aided. In all other cases, the maximum grant shall be 50% of the investment or €80,000 whichever is smaller amount.
Grants which are €80,000 and up to €150,000 shall be the exception and will only apply in the case of businesses that clearly display a potential to graduate to Enterprise Ireland and/or to export globally.
1. Be strategic and accurately define your target market. This can be much more difficult than it sounds. Define your ideal customer and list their needs.
If you missed our weekly slot on Northern Sound radio, you can listen again now by clicking on this link http://www.northernsound.ie/podcasts.php
Grainne Brady spoke about Marketing for small businesses and how it can be achieved with a limited budget.
Foras na Gaeilge is committed to supporting the Business Community in exploring and developing the practical business application of the Irish language and to this end financial assistance of €3,000 / £1,750 is provided through their ‘
Bilingual Signage Scheme’ and their
‘Bilingual Materials Scheme’. Development grants with a value of up to €12,000 / £8,000 are also available through our support fund
‘Innovation in the Business Sector’ to facilitate and normalize the use of Irish within the relevant field.
Foras na Gaeilge has developed a wide range of custome-designed business support aids, all of which are available free of charge through the self-ordering system at ‘Reources to Order’, and there is an extensive collection of relevant bilingual templates which can be downloaded free from ‘Downloadable Resources’. ‘Gnó Means Business’ also provides information on other relevant business-support sources as at ‘Sources of Funding’ and ‘Business Support Resources’, in which there is a valuable information database of opportunities for the use of Irish within a business context.
1. Good Reasons to Start a Business in Recessionary Times
• Lower Costs
• Labour is cheaper
• Rents Cheaper
• Using the latest technologies in your business – cost advantage
• People are shopping around looking for better value – this creates opportunities for the starters.
• Cost base will be lower – therefore better able to compete with more established business.
• SME are corner stone of employment in local economy
• SME are flexible and adaptable.
• Think like a large business from the start
2. Financials - Know your numbers
• Enough Cash to get started and keep your business financed until it starts making profits – usually after year 1
• Big failure of start up business – insufficient cash
• Work out the set up costs + running costs
• Project your sales figures
• Tendency to under estimate the costs and over estimate the sales income = ,Leads to early problems
• Sources of finance
Own Savings – be prepared to put your money on the line
Bank Finance = Straight Loans, Leasing (Motors certain Plant) bank Overdraft
Relative Costs of Finances
• Essential to have a well tested business plan.
Its the perfect time of year to start planning for the year ahead so whether you are in business 1 month or 10 years, start today.
1. Be strategic and accurately define your target market. This can be much more difficult than it sounds. Define your ideal customer and list their needs.
The Importance of Marketing
There are a couple of key misconceptions about marketing.
1. Many business owners believe that they are too small for marketing. This is completely untrue, small business need to market themselves so that customers know who they are.
2.Others think they cannot afford marketing.
We have all felt the effects of the frost, fog and snow on our lives in the last few weeks but even more so on our businesses. Online sales have sky rocketed during the last month as many shoppers turned to the Internet to purchase their groceries and gifts for the Christmas period. For businesses who have websites but do not sell online, many have experienced increased browsing which can transfer into sales in the New Year.
Just think of your own home, during this cold spell you may have looked up insulation, plumbing, chimney cleaning services or even just the contact details of a restaurant.
All of these businesses can target new customers by building their online presence.
So over the Christmas period, ask yourself, could my business benefit from a website and how can I target new customers with a marketing plan for 2011.
Click here for more information on marketing.
It is important to research the markets you wish to export to. This may be the success or failure of your exporting expansion.
The following factors need to be researched to access the viability of your export project:
- Background of the market including political and economic stability, foreign exchange problems,
- Consumer market being targeted – culture, attitudes to foreign products, language, consumer spending power, need for product or service.
- Distribution channels – does the target market have the necessary networks in place to deliver your products/services.
- Competition – who your competitors are and their background information such as current product offering, prices, number of years established.
- Target Markets Legislation/ Customs & Excises – Does your target market impose additional tariffs on foreign goods or import restrictions, level of duties, packaging & labeling requirements.
Market research is the only method of answering all your questions before the decision is taken to export, so if you require any assistance in assessing potential export markets, please contact Amatino Partners www.amatino.ie or Patrick Cunningham on 047 84955.
Many businesses face exhausting their domestic market and the next step is to introduce their products to foreign markets. However it is imperative to understand the market you wish to enter as well as the financial aspects of this method of expansion.
Benefits of Exporting
• Sales growth
• Increased profitability
• Providing economies of scale
• Raise the company profile
Considerations when evaluating decisions to export
• Is there a demand in the export market?
• Which countries have the best opportunities?
• What are the best sales channels for any product in that market?
• Will my product need technical or design modifications?
• Can it be packaged suitably for international transport?
• Is an export license required?
• Assess and profile the competition:
• Who is my competition?
• What channels of distribution do competitors use?
• Is there any government funding available for exporting my product?
FOREARMED IS FOREWARNED.
There are many more considerations to be assessed and if you feel that this is the next step for your business, please contact Amatino Partners www.amatino.ie or alternatively Patrick Cunningham on 047 84955 and we will guide you all the way.
When? Thursday June 3rd at 6pm
Where? Cavan Bank of Ireland
Agenda
6pm Registration and refreshments
6.30pm - 8.00pm Guest Speakers
Minister Brendan Smith
Bank of Ireland
Gerry Prizeman, BOI Regional Manager, North East
Business Planning
Bob Chestnut – Mentor with Enterprise Builder
James Fox, Asst CEO County Enterprise Board
Ms Fiona Maloney, Adult Education Officer, Co Cavan VEC Adult Education Services
Cooney Architects – Conservation Architects
To register for this free event, call Maureen Murphy on 07662 30418 or
email maureen.murphy@boimail.com
Bank of Ireland have launched the Show your Business Campaign in all branches between the 24th and 28th of May. It is a great opportunities for businesses to showcase their services within the bank environment to potential new customers.
Amatino Partners will be participating in the event in the Cavan town branch this Friday from 10am until 4pm so why not call in and see what we can offer you and your business.
Show your Business Week, is a business initiative organised by Bank of Ireland.Its aim is to bring local businesses together in Bank of Ireland branches across Ireland, to show and sell their products and services. All Bank of Ireland branches will host the Show your Business Week from the 24th-28th of May so if you are interested in showcasing your business, contact your local branch today!
Amatino Partners will be taking part on:
- 14th of May 10-4pm in Bank of Ireland Monaghan
- 28th of May 10-4pm in Bank of Ireland Cavan
Feedback received from the last Show your Business Week in December confirmed that many of the businesses achieved new sales leads, and it provided them with a platform for greater exposure to the local business community along with the prospect of reaching a new audience/marketplace.
Having achieved and maintained the cost cutting measures introduced to your business here are some key pointers towards ensuring future growth & profitability:
1. Product / Service Profitability
• Proper consideration of the true costs & profits associated with each product/service will show the optimal sales mix from a profitability perspective.
• Review your purchasing policy for potential savings and consider outsourcing as a means to reduce certain overheads.
2. Customer Profitability
• As above consider the true costs including the cost of delivery & credit terms in assessing this measure.
3.
Calling all business owners who are confused about what social marketing is and whether it can benefit their business - let us help you get to grips with it.
It is a widely held thought that Social Media is only useful to large businesses with huge budgets and well known brands. This is simply not the case, social media can be a great marketing tool for small businesses too and it doesn't have to cost much at all.
Social media can be used to help raise the profile of almost every type of business. With most customers "Googling" to find our contact details and product range, it is essential that as many mentions of our business as possible can be found online.
We send out a monthly newsletter to our clients and those who have signed up to our newsletter. The topics we cover vary but we try to keep them as relevant as possible to you and your business.
It is a great source of information for new budget changes, taxation, marketing and business news. Sign up today by clicking here.
I joined Amatino Partners in 2009 after moving my accounts from a large well known practice in Dublin. I was delighted to have a dedicated Partner in Barry Kieran who took a hands on approach to my business and my accounts. Barry's ability to analyse issues, develop & implement practical, beneficial solutions across my business has helped my business immensely.
We are all tired of the doom and gloom which prevails over the business sector in the last 12 months. With a New Year comes new opportunities and the option to look at your business in a new way.
Recession...even the word sounds depressing but use this time of change to your advantage by reviewing your business, your systems, your staff and your products. Taking stock allows you to look objectively at your business and see where it needs to be changed to compete in the new market of 2010.
Review your business under the following topics:
Operational Excellence – this is one way of protecting the core of your business
Operations – can you improve on the way you make decisions, use your time, run your production etc
The marketplace – are you competitive in the current marketplace
Value – review the value in your product or service, add extra value only if it is required by the customer
- Customer – are you communicating to your customer?
Businesses and cultural organisations in Dublin have come together in a bid to attract more consumers into the city. They've launched their biggest ever Winter Programme, which includes a Family Day on December 8. The 8th of December has traditionally been the day when consumers from all over the country travel into Dublin city to do their Christmas shopping.
Recent years has seen a decline in the number of consumer travelling to Dublin city centre in favour of cross border shopping, US shopping trips and regional shopping centres.
Amatino Partners attended a Speed Networking Event yesterday morning which was held in the Shirley Arms in Carrickmacross, Co Monaghan. The event was a resounding success, with over thirty businesses from Donegal, Belfast, Dublin, Cavan, Monaghan, Louth and Kildare attending. The businesses were as varied as the locations they came from resulting in an upbeat and active networking session.
The event was organised by Great Minds who are based in Monaghan but are both active networkers and training experts across the country.
The unusual format of the networking session kept everyone moving, polished business pitches and ensured that everyone attending managed to meet with all the networkers, learn about their business and pitch their services and products to them.
Key Financial’s business seminar was held in the Cavan Crystal Hotel on Thursday evening last with key note speakers Jim Power and Dermot Mc Conkey. The event was a resounding success with attendees coming from businesses in Cavan, Monaghan, Louth and Meath.
Chief Economist with Friend’s First, Jim Power was introduced to the packed function room by Managing Director of Key Financials, Niall Thornton. Jim Power is well known from his regular press and news commentary on the state of the Irish economy and the potential for market recovery.
Our article from this week's Cavan Post :
There a number of key reasons why start-up businesses fail. Knowing these pitfalls can help you avoid them when setting up your new business.
1. Misguidance & Lack of Feasibility - starting up a business for the wrong reasons
You must be committed to the business and aware of the challenges that lie ahead. Confidence in your ideas will spur others on but cannot be the sole reason for the venture, your business venture must be feasible.
Is your Business feeling the pinch? Are you Interested in Cutting Costs?
Well, click here for more information /_fileupload/Amatino Partners Cutting Costs - Website.pdf
Last week saw the launch of a new RTE programme about start up agri businesses. A fantastic show which will surely inspire the entrepreneur in all viewers.
The format of the show is ideal for agri-businesses as it highlighted the need for research, planning and the importance of marketing...a concept very close to my heart. Last Thursday's show focused on a local Monaghan duck egg business who quickly realised the importance of a concise and focused marketing plan.