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Ten top tips to successfully grow your business

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Presentation by Noone Casey to startup entrepreneurs on getting the simple steps correct

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Ten top tips to successfully grow your business

  1. 1. Anthony Casey <br />Noone Casey<br />Sprint – Start <br />Clarion Hotel, IFSC<br />29 August 2011<br />Ten Top Tips to Successfully Grow Your Business<br />
  2. 2. Ten Top Tips to Successfully Grow your Business<br />
  3. 3. Introduction<br />
  4. 4. Tip #1 Optimum business structure<br />
  5. 5. Tip #2 Minimise your taxes<br />
  6. 6. Tip #2 Minimise your taxes (cont’d)<br />Simple tax planning<br />Put spouse on payroll<br />Consider BIK vs mileage<br />Recruit long term unemployed<br />Pension contributions<br />
  7. 7. Tip #3 Understanding Client Needs & Wants<br />
  8. 8. Tip #3 Understanding Client Needs & Wants (Cont’d)<br />QWERTY keyboard<br />Patented 1878<br />Slowed down typing to prevent keys sticking together<br />Intentionally illogical & inefficient design<br />DVORAK keyboard<br />Carnegie Foundation grant to Prof Dvorak in 1932<br />More efficient design/World typing record <br />Commercial failure<br />Clash between client need (faster typing) and client want (desire not to relearn how to type)<br />
  9. 9. Tip#4 Develop relationships....<br />Knowledge base<br />
  10. 10. Tip# 4 ...& Build a Team Around You<br />
  11. 11. Tip#5 Research & Development tax Credit<br />
  12. 12. Tip#5 Research & Development tax credit (Cont’d)<br />Identify eligible R&D projects<br />Determine the expenditure incurred on qualifying activities<br />Optimise the amount of your R&D Tax Credit<br />Draft supporting financial & technical documentation<br />R&D tax credit is 25% of qualifying expenditure<br />If no CT payable, Revenue will refund credit<br />
  13. 13. Tip# 6 Strategic Planning<br />Simplify things by focusing on 7 simple steps:<br />A Firm Strategic plan – having a blueprint rolling plan for your firm<br />Marketing Strategy – being clear on your growth strategies<br />Client Retention – creating focused client care programmes<br />Increased Spend – having plans to increase client annual average spend<br />Targeted Referrals – focusing on the best way to grow your client base<br />Low Cost Marketing – creating plans for effective and prioritised marketing activities<br />Business Development – knowing how to professionally gain ‘yeses<br />
  14. 14. Tip #7 Management Information<br />
  15. 15. Tip #7 Management Information (cont’d)<br />Financial<br />Management accounts<br />Budgets<br />Forecasts<br /> Commercial<br />Market share<br />Market penetration<br />Facilitate Commercial decisions<br />
  16. 16. Tip# 8 Be Adequately Funded<br />Identify capital requirements<br />What are sources of capital<br />Seed Capital <br />Investor Capital (BES)<br />Venture Capital<br />Promoter’s loans<br />Grant aid DCEB/EI<br />Bank loans<br />
  17. 17. Tip# 9 Know Your Law<br />Employment law<br />Employee rights<br />Employer obligations<br />Business Law<br />Contracts<br />Passing off<br />Taxation<br />PAYE<br />VAT<br />
  18. 18. Tip# 10 Be Curious<br />Keep up to date<br />Know what your competitors are doing<br />Ask for advice<br />Demand answers<br />Keep learning<br />
  19. 19. Conclusion<br />
  20. 20. Any Questions?<br />
  21. 21. Thank You<br />Anthony Casey<br />Noone Casey<br />9 Fitzwilliam Square East<br />Dublin 2<br /> <br />Telephone:         (+3531) 6766 476<br />Email:                  acasey@noonecasey.ie  <br />Web :                   www.noonecasey.ie<br />Blog:                    www.taxation.ie<br />Twitter:               noonecasey<br />LinkedIn:             Anthony Casey<br />

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