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Small Business Tips: Six Ways To Reduce Overhead Costs

Here’s a daunting fact: While more than 500,000 small businesses will launch this month, just as many will fold because they can’t meet overhead costs. Sure, there are factors beyond an owner’s control, like the economy and unforeseen industry changes, but successful small businesses find ways to pinch pennies, adopt wise practices and discover new innovations that save money.

Here are six suggestions:

    1. Go paperless.



It isn’t just for bank statements anymore.  Paperless options are enhancing how people run their business. For example:

    • If contracts are part of your business, companies like Docusign have e-signing services that make documents easy to complete from thousands of miles away, saving time and shipping costs.

 

    • Need to get hardcopy documents into your employees’, partners’ and client’s hands? Professional scanning companies can turn around large volume of documents in one day by converting them into CD-ROMS, DVDs or simple emails and integrating them with any software system you choose.

 

    • Cloud computing has become a business game-changer. Cloud-based services now allow you to easily share documents with coworkers and clients so last-minute meetings can be scheduled in an organized, efficient way.




    1. Evaluate your needs.



Make a list of all the items you spend money on for your business and then categorize them into essentials, enhancers and things you don’t need. Take the third list and eliminate everything on it. Take a good look at the “enhancer” list—are you getting a good ROI on each investment? If not, cut those, too. Whether it’s a barely used landline or a web service that could be replaced by a less-expensive service provider, every little bit counts.

    1. Use a virtual office space.



Working from your own home is already a cost saver, but it poses challenges—like where to hold client meetings. Gathering around your kitchen table with Fluffy rubbing up against clients’ legs might not leave the best impression. Davinci Virtual Office Solutions was created to give you a better, cost-sensitive solution.

We provide office locations and virtual office services worldwide. With professional business addresses in over 950 prime locations, we offer mail forwarding, lobby and directory listings, access to conference rooms and day offices, catering, administrative services, business support centers and more.

    1. Stay focused.



Likely you already use the clock to your advantage, but distractions happen—especially when you’re working from home (the dishes from last night, the random knock at the front door, phone calls both business-related and otherwise).

Gain valuable time-management techniques, like multitasking and daily planning, to stop the disruptions.

    1. Use a virtual receptionist.



Another way to avoid distractions so you can concentrate on growing your business is to hire a virtual receptionist—and it’s a lot less expensive than hiring a staff member. Davinci Virtual Receptionist offers live, offsite specialized receptionists who can answer your calls (and screen and forward them) make appointments, place orders, process payments, provide customer care and make outbound calls for a small monthly fee.

    1. Free advertising



Use that social media. Twitter, Facebook, LinkedIn and other platforms are a small-business owner’s way to easily and cheaply spread the word about their business. Why not ask a client to take a moment to write a LinkedIn review in exchange for a fee discount? Or simply ask a client to post a tweet about their experience. It’s free advertising with a vast audience.

The big picture

Owning a small business is an exciting, challenging endeavor. And there is no way to eliminate overhead. But with a smart business plan in place, using all the resources available to you, it may become the most successful move you’ll make in your career. Learn more about how Davinci can help. Contact a member of our expert team today.

 

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Business Glints and Glimmers in the Emerald of the Equator

Just north of Australia and the rich coral paradise of the Timur Sea lies the island nation of Indonesia, the Emerald of the Equator. You may covet this Pacific gem for its abundance of natural resources, its thriving manufacturing sector, or its lush tourism industry, and you know the time to move in is now. Its economy is starting to take off, and you're poised to reach in and earn a few of those riches for yourself. All you need are the tools to do it.

When it comes to navigating Indonesian commerce, you know where your efficiency issues lie. Long and expensive flights, customs, and local taxes can be a headache to handle. In fact, if you or other employees relocate to the islands, you have to pay income tax even if you're a foreign national. Skipping a local office is the way to go, but you still need a local address to conduct business and have a good reputation. That's where Davinci comes in.

Davinci virtual office solutions allow you to rent an Indonesian address without maintaining local office space. You can have a primetime address in a respectable Jakarta business center, but you never have to worry about managing a distant office or paying overhead. Davinci can forward any mail sent to the address to your desired located. It looks fantastic on paper while sparing you a lot of expense and hassle.

Inspirational speaker Zig Zigler once said, "You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win." If your goal is to become a mover and shaker in Indonesia's growing economy, take Zigler's words to heart. Plan to make it big while maximizing your time and monetary efficiency with Davinci, and your business is already set to put the glimmer of the Pacific's treasured emerald nation in your hands.

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Five Ways to Prove Yourself as an Entrepreneur

Whether you've been dreaming of owning your own company since childhood or you're longing to break loose from the confines of a corporate job, the opportunity to start your own business is too good to pass up. Now that you've got the ball firmly in hand, it's time to show the world you're ready to tackle any challenge coming your way. Here are five surefire ways to prove you're a serious entrepreneur.

Embrace Your Fears

Entrepreneurship gives you the chance to control your own destiny, but this can be a frightening prospect too. Acknowledge your anxiety, but don't let it stop you in your tracks. Embrace fear as a force that can power your drive and determination.

Become an Expert

Whatever your chosen field, you'll need more than a passing knowledge about your product or service to succeed. Do your homework, research the competition, and build your reputation by becoming a go-to source for reliable information.

Perfect Your Pitch

You are your company's primary asset, so ensure you're ready to pitch your product at every opportunity. Develop a personal yet professional narrative demonstrating your passion as well as your confidence and expertise.

Target Your Market

One of the most common mistakes start-up companies make is investing too much time and money into development. It won't matter if you come up with the most innovative product in the world if no one knows about it. Start marketing early, and engage your target audience with a steady stream of information.

Take Advantage of Every Resource

From social media to cloud-based data storage, it's important to take advantage of all of today's high-tech resources to put yourself on a level playing field with your competitors. Remember: you don't need to rent expensive real estate to expand your reputation. A virtual address from Davinci virtual office solutions lets you enjoy the prestige of an upscale location without the associated costs. By using a few of these strategies, not only will you prove yourself as an entrepreneur, but start-up owners will be coming to you for advice.

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Taking Your Business to New Heights in Hong Kong

Venturing into the fast-paced business environment of Hong Kong is both thrilling and a bit nerve-wracking. From the city's breathtaking skyline to its crowded sidewalks and boisterous canteens, Hong Kong is a city overwhelming to the senses at every turn. Once the first wave of culture shock has washed over you, however, the exhilaration of doing business in Hong Kong takes hold. When your business interests bring you to one of the world's leading financial hubs, you know you've arrived.

Whether you're headed to Hong Kong to raise capital or to expand your brand in a new market, opportunities abound in this supercharged city. The city known as one of the Four Asian Tigers roars with excitement and prospects for a bright financial future. Around 22 percent of the world's IPO capital is raised here, and more corporations are headquartered in Hong Kong than in almost any city in Asia. Competing with seven million people for your share of the city's 263 billion GDP won't be easy, but you're determined to toss your hat into the economic ring.

To help ensure your success, take advantage of every savvy strategy available to you. Your first step is to overcome one of the city's greatest obstacles: exorbitantly high rents. More than 1,200 skyscrapers crowd Hong Kong's skyline and more structures are added to the concrete jungle every year. The lack of land space in this vertical city drives rents sky high.

Davinci virtual office solutions can help you establish a presence in Hong Kong without committing to long leases and expensive rentals. Through Davinci, you can rent an address in the city's most prestigious business neighborhoods while continuing to run your company from another location. All correspondence directed to the address will be forwarded to wherever you like. With Davinci virtual office solutions on your side, your company's reputation can soar as high as a Hong Kong skyscraper.

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Five Simple Green Business Strategies for 2014

Are you looking for ways to turn your business green in 2014? You may be surprised to learn what’s good for the planet can also be good for your business. Are you ready to be socially responsible and business savvy? We want to help you seize your golden opportunity to create a green strategy. Here are five simple and painless ways to make your business plan a little friendlier to the planet:

Go Paperless 

Countless sheets of paper are wasted when employees print emails or internal documents. Important emails and documents could easily be archived in a virtual capacity. It may be advisable to have your information technology department coach employees on how to properly store documents and files for easy access.

Go Virtual

Allowing your employees to work remotely from home is one of the best ways to reduce pollution. This plan of action will eliminate the waste and high cost associated with supplying water, electricity, and furniture to a physical office space. This strategy will also help to eliminate the high amounts of fuel your employees would use to commute to work.

Ditch Desktop Computers

Laptop computers use a fraction of the energy consumed by desktop machines. Any new equipment upgrades should favor laptops and laser printers over bulky desktop styles. It's important to think twice before attempting to dispose of any old machines or equipment, however. Be sure to consult a recycling agency that handles the disposal of electronic goods. You may also be able to sell old equipment to other businesses.

Seek Green Vendors

Many office supply companies offer green solutions to their clients. Be sure to ask your representative about any green alternatives offered by the company you use to purchase paper goods, printing supplies, or office furniture. It is also important to inquire about harmful ingredients in any of the products used by the outside cleaning agencies or maintenance companies you hire to do work in your office.

Count Every Cup

It is estimated that the average employee will use up to 500 paper cups per year. You may want to consider giving every employee in your organization a complimentary reusable mug. The reusable mug can become a part of your company’s culture of supporting environmental efforts. Department managers and leaders should set the tone by proudly utilizing their mugs every single day.

Davinci virtual office solutions commend your decision to add green strategies to your business plan in 2014. We believe a greener world is always good for business. These five tips may help you do your part to preserve our planet for many generations of entrepreneurs to come.

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