Ten top tips to successfully grow your business

Anthony Casey
Noone Casey
Sprint – Start
Clarion Hotel, IFSC
29 August 2011
Ten Top Tips to Successfully Grow Your Business

Ten Top Tips to Successfully Grow your Business

Introduction

Tip #1 Optimum business structure

Tip #2 Minimise your taxes

Tip #2 Minimise your taxes (cont’d)
Simple tax planning
Put spouse on payroll
Consider BIK vs mileage
Recruit long term unemployed
Pension contributions

Tip #3 Understanding Client Needs & Wants

Tip #3 Understanding Client Needs & Wants (Cont’d)
QWERTY keyboard
Patented 1878
Slowed down typing to prevent keys sticking together
Intentionally illogical & inefficient design
DVORAK keyboard
Carnegie Foundation grant to Prof Dvorak in 1932
More efficient design/World typing record
Commercial failure
Clash between client need (faster typing) and client want (desire not to relearn how to type)

Tip#4 Develop relationships....
Knowledge base

Tip# 4 ...& Build a Team Around You

Tip#5 Research & Development tax Credit

Tip#5 Research & Development tax credit (Cont’d)
Identify eligible R&D projects
Determine the expenditure incurred on qualifying activities
Optimise the amount of your R&D Tax Credit
Draft supporting financial & technical documentation
R&D tax credit is 25% of qualifying expenditure
If no CT payable, Revenue will refund credit

Tip# 6 Strategic Planning
Simplify things by focusing on 7 simple steps:
A Firm Strategic plan – having a blueprint rolling plan for your firm
Marketing Strategy – being clear on your growth strategies
Client Retention – creating focused client care programmes
Increased Spend – having plans to increase client annual average spend
Targeted Referrals – focusing on the best way to grow your client base
Low Cost Marketing – creating plans for effective and prioritised marketing activities
Business Development – knowing how to professionally gain ‘yeses

Tip #7 Management Information

Tip #7 Management Information (cont’d)
Financial
Management accounts
Budgets
Forecasts
Commercial
Market share
Market penetration
Facilitate Commercial decisions

Tip# 8 Be Adequately Funded
Identify capital requirements
What are sources of capital
Seed Capital
Investor Capital (BES)
Venture Capital
Promoter’s loans
Grant aid DCEB/EI
Bank loans

Tip# 9 Know Your Law
Employment law
Employee rights
Employer obligations
Business Law
Contracts
Passing off
Taxation
PAYE
VAT

Tip# 10 Be Curious
Keep up to date
Know what your competitors are doing
Ask for advice
Demand answers
Keep learning

Conclusion

Any Questions?

Thank You
Anthony Casey
Noone Casey
9 Fitzwilliam Square East
Dublin 2

Telephone: (+3531) 6766 476
Email: acasey@noonecasey.ie
Web : www.noonecasey.ie
Blog: www.taxation.ie
Twitter: noonecasey
LinkedIn: Anthony Casey

Ten top tips to successfully grow your business

by AnthonyCasey on Sep 20, 2011

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Ten top tips to successfully grow your business — Presentation Transcript