Mistakes Archives - BOLLYWOOD SURKHIYAN

Top 5 Mistakes to Avoid When Selecting Intellectual Property (IP) Management Software

The investment made in Intellectual Property (IP) management software can work wonders in helping IP departments gain visibility, lower administrative costs, improve accuracy, and increase productivity. Unfortunately, a significant percentage of Intellectual Property management systems purchased are never fully implemented or don’t deliver the utility the customer hoped for.

Here are the five most common mistakes made when selecting Intellectual Property management software:

Mistake #5: Not Knowing What You Really Need in IP Management Software

Before diving right into choosing a solution, take the time to understand what you really need. For starters, determine whether you require a fully integrated Intellectual Property Asset Management software, Patent Docketing software,or IP Matter Management software.

Often, this depends on the issues you are trying to solve or the opportunities you are trying to capture, as well as the size and structure of your department. For example, if you don’t file many patent applications or trademarks, you should first get that data organized in a centralized repository. Your core team should be able to access and generate reports from them.

If your IP portfolio is getting large enough for you to manage, and you think that providing access to inventor community and law firms can reduce administrative costs, you should look at a robust Intellectual Property management system. This type of system will allow you to streamline your processes and improve productivity at a lower cost and with fewer resources.

Before diving into the selection process, ask “What are our top five needs?” If these key needs are not identified, it may be difficult to distinguish between vendors. Many vendors claim to do many things. The vendor’s strengths must match the company’s key needs.

Mistake #4: Not Recognizing the Uniqueness of Your Business

Every IP department is unique. Without configuration capabilities within the software, you are more susceptible to failure during software implementation.

While initial license and maintenance fees can sometimes appear lower, these hard coded solutions will often result in increased costs due to extensive customization requirements, upgrades, ongoing maintenance, and longer system deployment timeframes. Essentially, you may end up reducing and delaying your overall return on investment.

Avoid choosing a software that limits your team’s capabilities and your department’s growth. Your software should enhance your business, not hinder it.

By choosing an Intellectual Property management software solution that can adapt to your business processes, you will get better user acceptance, improved efficiencies, reduced costs, and faster ROI.

Mistake #3: Not including Key Users in the Selection Process

Surprisingly, many IP department still select computer systems without soliciting meaningful input from key users. At the beginning of your selection project, form a selection team with representatives from all affected teams such as patents, trademarks, docketing, licensing, compliance and billing. The active participation of key stakeholders will not only help ensure all bases are covered, it will also result in a better decision and fewer complaints after implementation.

If possible, you should also include a representative from your IT department. The IT Liaison can help you in identifying any issues related to deployment, data migration, integration and security.

Mistake #2: Evaluating Too Many Vendors:

Avoid vendors that offer a deal that is “too good to be true”. You may find yourself missing the essential tools you need to conduct your business after implementation. Many of these bargain systems also provide very rigid solutions, making it difficult for you to meet the unique needs of your inventors, patent committees, and law firms. Also, You may need to reinvest additional money toward upgrading, or in some cases replacing, your system later-thereby reducing or eliminating all together any savings that you might have originally experienced.

Choose no more than four vendors at the start of your search. If more than four are chosen, it often becomes difficult to remember who does what. If none of the first vendors will meet 80 percent of the key needs, dismiss these and begin investigating several more.

Mistake # 1: Not Investing in Intellectual Property Management Software for the Long-Term

When choosing Intellectual Property management software, be realistic about your expectations and perceptions of cost. You’re making an investment to improve or enhance your processes. So, while hard dollars spent are important, the key is choosing the right Intellectual Property management software. Choose the right partner who will provide you with a fast and effective implementation, high ROI (Return On Investment), and low TCO (Total Cost of Ownership) after implementation.

Use your intuition and good business judgment when comparing provider costs. Look for applications that support your ability to achieve your department’s long term primary strategic goals and work within your budget. Hasty decisions in favor of the lowest cost IP management software provider or solution now may leave you plagued later with hidden costs, and delay or eliminate any ROI for your business.

Several progressive legal departments have realized better and more predicable processes, improved productivity, and better control over law firms with Lecorpio’s IP management software. Lecorpio IP Asset management solution includes invention disclosure management, patent management (including docketing), trademark management, domain management, open source management, licensing management, contract management, standards management, IP transactions management, and spend management.

Six Deadly Pool Purchasing Mistakes and How to Avoid Them

The six deadly pool purchasing mistakes are frequently made as a result of simply not being informed and knowing what questions to ask. Avoiding these mistakes could save you thousands of dollars and hours of heartache and frustration.

So you want to buy a pool but don’t know where to start? Perhaps knowing the common mistakes people make when purchasing a pool will help you start off on the right foot. Everyday, people get “duped” into buying the wrong pool, the wrong way, with no recourse or protection. These same people wind up being dissatisfied and even angry because their expectations weren’t met.

Throughout my long career in the pool industry, I have met many people who have made serious mistakes when they purchased their pool. Every year it seems as though I hear the same stories over and over. As a result of talking with scores of pool owners and through my own years of experience in the industry, I have concluded that there are six common mistakes that people make when purchasing a pool.

The Solution to Avoiding the
Six Deadly Pool Purchasing Mistakes is. . .
Ask the right questions! It’s simple. If you ask the right questions, you’ll uncover 90 percent of the potential problems that most pool purchasers commonly face. There’s always that 10 percent chance that something will happen that you couldn’t have foreseen; but, for the most part, you’ll be able to avoid almost any surprise.

However, if you’re like most other pool purchasers, you know so little about pools or pool construction that you don’t even know what questions to ask. That is why I wrote this special report just for you. After reading this report, you will be one of those few pool purchasers who “know what they’re talking about.”
The first questions you need to ask yourself when thinking about buying a pool are:

1. Why do I want a pool?
2. What will my family and I use the pool for?
3. Who is going to maintain the pool?

Why are these questions so important? Before you can decide “what” type of pool you want, you need to understand “why” you want a pool. Is it for family recreation, entertaining guests, physical therapy, exercise, personal recreation or just to “keep up with the Jones’?”

Knowing the answer to these questions will help you avoid the first deadly pool purchasing mistake, which is. . .

Mistake #1:
Not Designing Your Pool for its Intended Purpose
You might have heard the phrase, “Form follows function.” To know what type of pool you want, you need to know what you’ll be using it for. The type of pool you’ll select should depend on what you’ll be using it for.

More often than not, people considering the purchase of a pool have a specific purpose in mind. It is important to write this down and have it ready when you start to talk to pool builders.
For instance, if you are going to use your pool mostly for family entertainment, then you will want to include safety features such as gating or fencing that will control access to the pool. If your primary use is for entertainment, then you may consider mood lighting features with special landscaping features, such as waterfall features in and around the pool. If you want to build a pool for physical therapy or exercise, you might include a longer shallow area for swimming or perhaps built in spa jets in the seat, pull up bars, or even a smaller pool with swim jets.
The Myth of the Large Pool
An interesting phenomenon frequently happens when the majority of first-time pool buyers desire a large pool with a deep end and a diving board. After about a year of pool use, new owners discover that the deep end rarely gets used and the diving board becomes more of a safety hazard. Most of the games that are pla
yed by the kids are done in the shallow end and that’s where the adults spend 95 percent of their time. Because they decided to build a large pool with a deep end, only 35 percent of the pool gets utilized, resulting in unnecessary expense and low usage. It’s also important to consult with your insurance agent regarding increased premiums with diving boards.

Fencing is always an important element of your pool, not only for child safety but to provide a certain level of privacy. You may consider a retaining wall if your yard is on a slope so that you can step down to the pool, providing you more privacy. Many pool builders will try to talk you into elevating the level of your pool if your yard has a slope. Simply because there’s less dirt to remove, builders can cut trucking expenses. This can leave you with an inground pool that has an above ground look.

You should also have an understanding or vision of what you want your entire backyard to look like, not just your pool. Your pool should compliment your existing backyard and integrate with your intended landscaping goals, both now and in the future.

Here are some other points to consider when designing your pool:

1. Access – Ensure there is easy access to your pool from your house, restroom or entertainment area. You might want to consider how patios, decks or walkways are positioned to provide a safe and simple entrance and exit between your home and your pool.

2. Lines and Cables – Before settling on a location, you need to ensure that there are no electrical or telephone wires, sewer or septic lines or buried pipes.

3. Drainage – Water needs to drain away from the pool to avoid standing water or dirt and mud getting into the pool. This is especially important if you’re in a location that has a history of flooding.

4. Add-Ons – If you plan to install a diving board, spa, slide or waterfall, make sure that you plan for adequate deck space for each add-on.

5. Sheds – A common method of protecting equipment is to build an equipment shed close to the pool.

6. Sun vs Shade – The sun can help to keep your pool water warm; however, placing your pool under trees can result in a lot of extra maintenance.

7. Covenants – Find out if there are any subdivision covenants regarding the construction of pools.

To obtain a building permit, it is generally required to get a survey or plot plan of your entire property. In fact, you should already have one from when you bought your home. The survey will help you to decide where to locate your pool and any other accessories.

Make sure you schedule an initial on-site consultation so that your pools primary functions and activities are reflected in the design. Furthermore, an on-site consultation should urge you to consider the overall vision of what you want your backyard.

Mistake #2
Choosing the Wrong Pool “Container”

There are three basic types of in-ground pools: concrete/gunite, fiberglass, and vinyl liner.

No matter what type of pool you choose, you will be required to perform a certain amount of maintenance. However, each type of pool provides its own maintenance challenges. It’s important to understand these challenges by pool type before you make your selection.

Concrete/Gunite Pools
Concrete and gunite (a type of reinforced concrete) are the most common in-ground pool types because they have been on the market longer than the new, more efficient types of pools.

Concrete and gunite are sprayed over a framework of steel rods and wire mesh, then coated with plaster to give the pool a smooth, printable surface. Today, concrete and gunite pools are most commonly used for commercial and public swimming pools.

The nice thing about concrete and gunite pools is that you can virtually build them in any shape or form that you wish. Unfortunately, it is the most expensive of the three types of pools and it takes a long time to build.

Furthermore, concrete and gunite is porous, therefore providing small areas for algae and bacteria to grow. In addition, it can easily crack and chip with the change of the temperature and weather conditions, providing even more areas for algae and bacteria to grow. This is why concrete and gunite pools require the most maintenance of the three types of pools, costing $100 or more a month to maintain. It is also rough on the kids feet, and because kids will stay in the pool for extended length’s of time makes this extremely damaging to the skin.

Concrete and gunite pools require periodic annual or semi annual pool draining for cleaning purposes. When the pool is drained, the cracks in the concrete and gunite need to be repaired and the pool siding acid-washed and perhaps re plastered, if necessary. Acid washing is necessary every one to three years, depending on water condition. Acid washing does remove a layer of plaster or mar cite. Usually, after the second acid wash you can expect to re plaster the pool.

Vinyl Liner Pools
Vinyl liner pools use a high-density vinyl lining, offering a cosmetic textured pool surface. The lining is “seamed” together throughout the sides of the pool. Polymer or steel walls are bolted and fastened together on concrete flooring. The vinyl liner is spread over the floor and paneled walls and connected to the top of the walls by a vinyl rib at the outside edge of the liner.

The upfront cost of vinyl lined pools can be inexpensive when compared with concrete and gunite pools and take much less time to install. However, the maintenance on vinyl lined pools is high because the liner can be easily scratched or cut, especially if there will be toys or hard objects in the pool (even mechanical pool cleaners!). To repair a vinyl lined pool, you’ll need to replace the entire lining, which can cost from $1,500 to $3,900 or more depending on the time of the season for replacement.

Also, algae and bacteria tend to nest in the porous texture of the fabric and seams of the vinyl, requiring high amounts of chlorine to keep the pool clean. It’s kind of like a shower curtain that is exposed to moisture and heat on a consistent basis.

Severe problems can arise when algae starts to grow under a vinyl liner because it can start to eat the liner from the underside and is very difficult to treat. You can expect to pay up to $100 or more a month to maintain a vinyl liner pool.

In addition, heating costs will generally be higher, especially on steel wall construction. The only thing between the ground temperature of 57 degrees and the pool water is steel and vinyl. A polymer or plastic wall does reduce the cost of heating somewhat; but, it also adds considerable cost to the construction of the pool ($1,500 to $2,500 in some cases).

Fiberglass Pools
Fiberglass pools are made out of a seamless one-piece, pre-formed fiberglass container that is set in the ground and can be installed in less than five days. The fiberglass itself has a smooth, non-porous gel coat surface.

Although fiberglass pools have a wide range of sizes and shapes, and can be moved if you choose, you are restricted to those sizes and shapes that are offered, unlike a concrete or gunite pool. You’ll rarely find a fiberglass pool over sixteen feet in width because the come from the factory ready to install in one piece.

Fiberglass pools are appealing because they require much less maintenance than either of the other pool types. Fiberglass will not rip, tear, crack, chip or leak, providing a longer-lasting surface. Therefore, monthly maintenance costs are minimal. The durability of fiberglass is especially important if you live in a cold weather climate, or unstable soil, in which surface materials contract and expand. This is why concrete and gunite pools crack and chip.

Because a fiberglass is non-porous, algae and bacteria cannot stick to the surface. This reduces the amount of chlorine necessary to keep the pool clean to about one-fourth of the amount that other pools use, which can add up to large cost savings over time.

Fiberglass pools never require draining for cleaning, which is a huge chore. In addition, to clean the fiberglass surface, all you need to do is vacuum the bottom of the pool, which takes only 10-15 minutes a week. At first you might think that concrete/gunite pools are the most stable; however, fiberglass pools can flex about two feet without sustaining any damage and can safely withstand more external pressure than concrete/gunite pools.

However, there are huge distinctions between different fiberglass pools. (They are not all created equal.) Vinyl Ester resin is a must! This material is a bonding agent that helps hold the pool together. Vinyl Ester also prevents cobalting, which is a black or purple stain that forms from the outside in. It is a chemical reaction within the fiberglass itself. The stain can usually be removed but will continue to resurface. Make sure you see it in writing that the pool has Vinyl Ester. If it’s not advertised in print, chances are it doesn’t have it.

It’s also important to have some sort of vapor barrier in the fiberglass. Even though the gel coat or finish is smooth and non-porous, the back of the pool is without a vapor barrier. Fiberglass is a cloth that will absorb moisture from the ground. Moisture or even ground water will leach through the fiberglass causing blistering on the gel coat that is not usually covered by warranty.

You also want to make certain the pool is constructed with hand laid fiberglass as opposed to chopped glass. Hand laid fiberglass is much stronger and is built with full sheets of fiberglass cloth. Chopped glass fiberglass is a pudding-like substance with shreds of fiberglass usually sprayed or rolled on. Fortunately, because fiberglass pools are pre-built, you can see the pool prior to installation. Check out the finish beforehand. If it doesn’t look good out of the ground it won’t look good in the ground. Remember, water magnifies any flaws.

The technology in this industry is changing and evolving almost monthly, with recent introductions like the infusion of Carbon Fiber which adds extreme strength, and some pretty nice looking colors, this makes this worth a closer look than in the past.

Mistake #3
Choosing the Wrong Developer
The worst mistake that a person buying a pool can do is choose the wrong developer to build the pool. There are many “fly-by-night” pool developers that use temporary workers to install pools,. Other developers employ installers (or subcontractors) that have virtually no experience with pool installation.

Pool developers consistently experience a high turnover with their staff so it’s a constant struggle to keep good, experienced people who have installed a lot of pools. There are also a lot of developers who will sell you a pool with no regard for how it will be integrated with your landscape and lifestyle.

Make sure the developer has a firm brick and mortar location and is not working out of his garage. Also, do not purchase a pool from the Internet. Take time to visit the location.

After narrowing it down to the top two or three builders, invest in the time to visit their location to look at their products and services. See how their staff treats you. (Remember, people who feel good about themselves produce good results).

This is the biggest investment of your life next to your home. Invest your time. Take the family on a fun day out to look at pools and builders. Stop for lunch. Slow down, take your time. Feel comfortable and investigate.

The following are several questions you can ask potential pool developers when you request a proposal or bid to build your pool.

1. Do you offer the type of pool container that I want (fiberglass, concrete/gunite, vinyl liner) and how much experience do you have with installing that type of pool?
Most pool builders specialize in one of the three types of pools. A builder that is an expert in installing concrete pools may not necessarily be an expert in installing fiberglass pools. Find out how many of the same type of pools the builder has installed. If you are having accessories such as a deck, spa or landscaping done with the same builder, make sure that they have done that type of work in the past with other clients.

2. What is the average experience of your installation staff or do you subcontract out the construction? Do you hire only licensed and bonded sub-contractors?
It isn’t uncommon to find a pool builder that uses subcontractors for the entire installation process. In this case, you need to consider the experience level of the subcontractors. A pool builder is only as good as the people doing the installation work. Preferably the builder will have his own staff, resulting in better quality control. However, if a subcontractor is used, make sure that they are licensed and bonded to protect you if things go wrong.

3. Are you certified by the National Spa and Pool Institute? What other trade organizations do you belong to?
The National Spa and Pool Institute (NSPI) is the association that supports the spa and pool industry. The NSPI has a “Certified Builder”course that teaches builders how to build high-quality pools using the latest techniques that meet specifications. Having the certification means that the builder has at least met some standard education requirements to do the job right and it shows the builder’s commitment to quality. This one question can weed out a fly-by-night builder from a reputable builder. If the builder belongs to the Better Business Bureau, a Chamber of Commerce, or even a Rotary Club, it demonstrates that the builder intends to be around for a long while.

4. Do you provide financing for the pool construction project?
Even if you have the money sitting in the bank or you plan to get it from a commercial lender, asking this question may result in some revealing information. If a builder provides financing, it means that they have been around long enough to build credit and a good reputation with the banks. It is advantageous to have options for financing the construction of your pool. Another benefit of financing your pool is that in-ground pool construction is considered a home improvement and the interest payment on your loan is tax deductible.

5. Can I speak with several of your past customers?
This is the killer question. The proof is in the pudding and if you can’t speak to a previous customer, it probably means that they don’t have one or that they are disgruntled. Run from a builder that can’t provide you with testimonials from prior satisfied customers.

The real test is talking to those customers yourself. Ask the builder if you can pick one or two from a list of 10 previous customers. This will ensure that you’ll be choosing a non-biased customer. Ask the customer, “I know that the builder does great work but all jobs have at least one or two things that didn’t go as planned. Can you tell me what were some things that didn’t meet your expectations?” This question will get the customer off the fence.

6. To what extent is the owner involved in the daily operations of the business?
If the owner of the business isn’t 100 percent involved in the business, it doesn’t mean that you write them off but you should find out how the business is being managed. Quality usually has a direct correlation to the level of involvement by the owner of the business.

7. Can the builder present a certificate of insurance to prove that they are fully insured?
Ask the builder about any liability and compensation insurance he may carry to protect you in the event of an accident during the construction of the pool. There’s nothing worse than getting into a situation in which things didn’t go as planned and not having recourse for receiving compensation because of damages. Every reputable builder should be fully insured. Period.

If you ask and don’t receive a copy of worker’s compensation and liability insurance, don’t use the builder. You may even go as far as to call the agent listed to verify that their insurance is in force. Finally, remember worker’s compensation protects people. Liability protects property. You need to have both.

Other things you might consider are the builder’s credit rating and you may want to check county records for lawsuits.

8. Does the builder offer in-home design services?
Many good builders will offer in-home design services that will not only save you money but also demonstrate the builder’s experience and expertise.

9. If there is damage to my yard or landscaping, will you repair it?
It is imperative that you set your expectations up front during the interview process with the builder, especially when it comes to damage. Many pool buyers are surprised when they see the amount of damage to their yard that takes place during a pool installation.

However, there is such a thing as excess damage due to negligence on the part of the builder. Make sure you address this right up front and that it gets into your contract. Some pool builders aren’t willing to take on the risk of paying for yard damage.

10. What are the electrical and plumbing requirements and who will perform them?
Your pool builder should know about existing electrical, plumbing, zoning, building and grading requirements. It’s important to test the knowledge of your builder. Even if you don’t know the answers yourself, you’ll have an idea whether they have a good grasp on the requirements.

By the way, never allow a pool builder to force you to take a permit out in your name. It should always be in the builder’s…

11. What type of maintenance training will I receive upon completion of the pool?
Upon completion of pool installation, your pool builder should provide you with training, including: equipment maintenance training; chemical and cleaning training; winterizing training; and safety training. These topics will be crucial to the longevity of your pool.

12. How long will the construction take and when can you start?
Even if a pool builder is good and you feel comfortable with their skills and ability, their schedule needs to sync with your schedule. A good pool builder will most likely be booked, so you may want to start the search process early in the season or reset your expectations as to when the pool can be installed.

Never choose a pool or a builder based strictly on schedule. Make your choice on the quality of both the product and the builder. A high-quality builder will never sacrifice quality for speed. Remember, if you are a first time pool buyer, another couple of months won’t hurt you. Stay focused on quality.

13. What is the cost and how much do you require as a deposit?
Ultimately, your pool needs to fit your budget. You should ask for a proposal only from builders that you feel comfortable with and meet your minimum requirements. Although it varies from builder to builder, 2 percent to 5 percent down is an acceptable amount to ask as a deposit. If a builder asks for an amount greater than 10 percent down, it’s time to end the interview. Also, make sure you examine the down payment schedule and make sure the builder explains it to you.

Good References are Important

Overall, asking this series of questions will help you get a feel for who may be the best choice to build your pool. Remember, good references are important because they are based on past experience rather than a right answer to an interview question. Call local building departments, call the state, and call the Better Business Bureau. A good builder’s reputation will precede them.

Mistake #4
Not Getting a Full Understanding of Your Pool Contract and Warranty
It is certainly a deadly mistake not getting a full understanding of your pool contract and warranty. As Ross Perot once said, “The devil is in the details.” Pool contracts and warranties can be deceptive if they are not read carefully and if you don’t ask enough questions.

Parts of a pool usually included in the warranty are:

1. Structural – Structural integrity of walls, reinforcements and concrete.

2. Equipment – Equipment such as filters, skimmers, pumps and heaters.

3. Plumbing – Materials and workmanship on electrical, gas, piping and pool plumbing.

Generally speaking, most pool buyers get surprised when something goes wrong because they didn’t take the time to understand the details of what is included in the warranty and more importantly, what is NOT included in the warranty. Try to make sure your pump, filter and heater are from the same manufacturer. That way you have one warranty that covers your main equipment. Plus, most pool companies will not stock repair parts from multiple manufacturers. Things like discoloration in fiberglass and vinyl liner pools are usually not covered because the color of the walls have a lot to do with how you’ve maintained the pool and the chemical balance of the pool water. Chipped concrete or gunite are not usually warranted because that’s the nature of concrete when exposed to the elements.

When purchasing a vinyl liner pool, you need to be cautious about what’s included in the warranty for the liner. Is it just the seams or is it the entire liner? Most vinyl liner pool builders stress the warranty on the seam, but the seam never goes bad. What frequently goes bad is the vinyl lining, not the structural walls or the seam.

Who’s Warranting What?
Understand who warranties what. For instance, who warranties the pump and filter? The manufacturer or the dealer? Who do you contact to report problems? Do they have a toll-free number? Who comes out to fix the problem? In some cases, each individual manufacturer will warranty each separate piece of equipment and will have different service providers fixing the problem. There’s rarely a one-stop solution for pool warranties and service.

Read the warranty carefully with the builder and ask questions. Ask what is not warranted and why. After you’ve seen a couple of warranties side by side, the questions will become much easier.

Mistake #5
Focusing on Upfront Cost Rather than Cost of Ownership
Because in-ground pools can cost up to $40,000 and more, most pool buyers are concerned about the upfront price and pay little attention to daily operational costs. Purchasing a pool that requires little maintenance will usually be the cheapest deal in the long run. Pools that don’t require a lot of chemicals, cleaning, resurfacing or replacement parts will cost less over the life of the pool.

Additional Costs

Additional costs of required basic equipment can surprise some pool buyers. Equipment such as filter systems, steps or ladders, and skimmers for surface cleaning are considered essential.

Many pool owners install heating equipment and pool-side decking of concrete or wood. Pool covers are often used to keep water clean and retain heat when the pool is not in use. If used properly, these covers can be a wise energy-saving investment.

Mistake #6
Falling for Slimy Sales Gimmicks
Once you have decided to build a swimming pool, there is a natural excitement and eagerness to have it installed as soon as possible. This is often the point at which unwary buyers can get into hot water because dishonest salespeople and builders will be quick to take advantage of the situation.

Keep in mind that the late spring and early summer months can bring these unscrupulous people into communities where home swimming pools are popular. Attractive advertisements can turn up, offering deals that seem too good to turn down. Here are some warning signs that signal “Buyer Beware!”

1. Salespeople who tell you an advertised pool they offer “on sale” is not worth having and then try to switch you to a more expensive model. This is called “Bait and Switch” and is a tactic that is often used in the retail world.

2. Salespeople who use the ploy of offering a reduced price on the basis your pool will be used as a model.

3. Salespeople who pressure you into signing a contract. Remember: no reputable builder and no authorized representative of a reputable builder will rush you into signing any agreement or contract at any time.

4. Never get talked into taking out the “Building Permit” yourself or in your own name. The contractor should do this. Always make sure that the contract clearly states that the pool builder is required to hire only licensed and bonded “subcontractors.”

5. If the pool builder will not do an on-site initial visit, be alerted to the possibility of a hard sale. Chances are, the builder does not understand or care to understand your requirements.

Conclusion
Purchasing a pool can be a scary experience, especially for those first timers who haven’t been through the process. There are a myriad of items to consider… pool type, maintenance, warranties, contracts, liability, plumbing, landscaping, electricity, drainage, restrictions, accessories, and so on. It’s no wonder many pool buyers make mistakes that end up costing them hundreds, even thousands, of dollars.

With the information in this special report, you will be able to avoid many of the most common mistakes people make when purchasing a pool. It will equip you with the ability and know-how to ask smart questions that will result in helping you find the right pool for you and your family.

Common Mistakes When Planning Your Medical Spa

Everything starts with a business plan: If you don’t have one. Write it. A good business plan will help you get a handle on all of the things that get glossed over in the excitement of starting a new business. It’s also a usual requirement for getting financing.

Remember that this is a medical business and comes with special requirements. Non-physicians can not employ physicians, medical oversight, HIPPA compliance, and a host of other regulatory issues need to be addressed. Play fast and loose with these rules and you’re asking for trouble. (One of our local competitors in Utah was not providing adequate physician oversight. The state walked in one day, confiscated all of their technology and patient records and closed them down.) All lenders want to know how you’re going to handle these issues. ADVERTISEMENT

Financing is easy. Financing smart is hard: Speak the words “medical spa” as a physician and you’re everyone’s best friend. Banks, lenders, technology companies will all have big smiles on their faces and papers in their hands, ready to lend money or finance everything you need. If you’re not a physician it’s going to be harder.

If you need money or a line of credit for needs other than technology, a bank will probably be your first stop. Banks will provide the best rates but are the most rigorous in investigating borrowers and have the least tolerance for risk. Banks will require that you have spotless credit and that the entire loan is secured. In most cases, everyone who owns 10% or more of the business will be personally responsible for the loan and have to provide two or more years of tax returns. Be prepared for a blizzard of paperwork. Banks will want to see financial statements, cash flow, a business plan (although they don’t read it), and have a little visit.

The bank is going to want to know what the funds are intended to be used for. They want to see tangible assets that have a market and can be sold if the business fails or you can’t make the payments. They don’t want to hear that you need more money for marketing and advertising or salaries that don’t have any resale value.

The money that banks will lend you will take the form of a loan, or a line of credit. Loans have a set schedule and payments. A line of credit is somewhat different. The idea is that the bank extends a line of credit that you may draw on. Interest is paid only on the amount of money that is used. However, banks usually require that the entire balance is paid off and unused for one month every year to ensure that the business is liquid. If you can’t meet this requirement, the entire line reverts to a loan.

Some bankers are helpful and some are not. In one instance a branch manager told one of our accountants that wanted some information that “he didn’t need our business and we could just live with that”. Avoid these types if you can. A friendly banker can go a long way in securing loans and providing a little flexibility if things don’t go exactly as you planned. If you find a great banker, send him a Christmas card and some cookies once in a while.

If you are in the fringe of what a bank can tolerate risk wise, they will often suggest or apply on your behalf for an SBA (Small Business Administration) loan that’s partially guaranteed by the government. (sba.gov/financing)

Half of something is better than all of nothing: If you’re going to need more money than you have in assets, you still have a couple of options. These involve partnerships, joint-ventures, venture loans or equity.

Most start-ups involve some form of equity trade. Partnerships are a good example. Sweat equity in the early stages provides ownership in lieu of payment or salary. It’s very common for entrepreneurs to take little or no money, sometimes for years, until the business is on its legs. Sweat equity at this stage usually extends only to the founders but may extend to badly needed partners. When we started Surface, I took more than an 80% reduction in income.

Equity: The simple rule is; the more money you need and risk you entail, the more equity you’re going to give up.

Angels: This is the first stop for most entrepreneurs. Angel financing (also called seed money), is usually raised from friends and family or “high net-worth” individuals. In some cases you may find “Angel Groups” that meet together and look for investments. Angels are usually found a the early stages of a business and are often bought out when larger investors come in.

Venture Debt: A recent surge in venture debt has made its way into the market and is worth discussing. Venture debt is basically a venture loan. The lender charges a higher interest rate than banks are allowed to (often around 14%) and accepts more risk in return. In addition, you will have to give up a small percentage of your company in what are called warrants. This small percentage (usually less than 5%) allows the lender to share in any potential upside. Venture debt is worth considering if you’re sure of success and you don’t want or need to give up a large equity position in you company. But you’ll still be personally responsible.

Venture Capital: When most people think of raising large amounts of money, they’re thinking of venture capital. For most start ups, venture capital is not an option. VC money has some downsides though. It is hard to get and extremely expensive. When you add up the entire enchilada, you’re looking at about 80% compounding interest each year in return for that money. VC’s are looking for an investment term of three to five years and a ROI (return on investment) of 700% or more. Whew. You’re also going to loose complete control of your company and have someone constantly looking over your shoulder. There are cases where this actually makes sense. Many VC are extremely well connected and bring these resources to the table.

So, now you’ve got the money you need. What are you going to do with it?

Most medical spas have grown out of an existing physician practice. The idea of having technicians producing revenue, low additional overhead, increased patient flow, and the feel that “I could do that” is attractive to a large number of doctors who are tired of the grind of medicine. (We’ve been approached by a surprising diversity of physicians looking to enter this market including; anesthesiologists, cardio-thoracic surgeons, and even podiatrists.)

Multiple Locations: After some initial success, many physicians and MedSpa owners attempt to open additional locations. (For some reason, these second-clinic startups are often opened by a relative, usually a wife or daughter.) These second locations never achieve the success of the first clinic for a very simple reason; their a completely different animal. If you’re thinking of opening multiple locations you’re work load just tripled. Multiple location sites are outside the abilities of most physicians and involve a much greater financial risk. Staffing and human resources, legal issues, medical oversight… most fail within the first year.

Successful multi-location practices are built around systems. If your first clinic doesn’t run without you there, you’re not ready for a second. Expanding to fast is a sure why to overextend your resources. Then you’re in big trouble. If you’ve closed a second clinic, lenders are going to be very wary of lending you money.

The Turn Key Solution: Franchises and consultants love to drop this phrase. The idea is an attractive one. Experts will guide your steps to financial glory. Marketing, financing, training, everything will be delivered in a nice little box with a bow on top. But, knowing a number of franchise owners and the problems they’ve encountered, I would give this advice; beware.

The current crop of franchises have a lot of problems. (One of them in California was shut down for selling medical practices to non-physicians. They’ve since reopened and are among the most aggressive advertisers.) Franchises are attractive because they claim to have all the answers. If you’ll just write the checks all of your troubles will be over. Not so fast. What you’ll really get are some manuals, pre-written scripts for sales, and bad ad-slicks. You’ll also get: locked into specific technologies that might be second-tier (the franchise gets kick-backs), spend money you could use elsewhere, and pay royalties on all of your income. (The franchises that offer a flat fee are an even worse idea. They have absolutely no motivation to help you.)

Big dogs eat little dogs. The next five years will see dramatic and disruptive changes in this marketplace. Large, well-financed medical businesses with smart physicians and high-quality care are going to open up next door to you. (You’re the corner store, they’re Wal-Mart) These businesses will be category killers and if you’re not well established with a broad market presence and multiple revenue streams, you’ll be gone.

The $80,000 towel dryers. Choosing the right technology is one of the things that will let you move ahead a step, or put you in cement boots where you stand. I always think of the way one physician described the pair of IPLs [Intense Pulsed Light devices] that he’d bought; as $80,000 towel dryers. Before you decide on which system to buy you’re going to need to crunch the numbers. How many shots will the IPL heads last for until they need to be rebuilt? How much support is included? What kind of training is provided? Does the device work better than its competitors? Before you sign your next few house payments away, make sure of your technology decisions.

Buy or lease. Leasing is the best way to go if you want to pay for your equipment as you use it while preserving your capital. Many of the technology companies have delayed payment plans as long as six months. Buying used equipment is often the best way to save money if cash flow is not an issue. (We purchase used medical lasers and IPLs online from a broker we trust and sometimes negotiate with our buying power for other physicians.) You can often save up to 40% off the price of a new machine if you have the cash on hand.

Don’t guild the lily: Cash flow is a problem many start-up medical spas face. Revenues and growth projections are commonly exaggerated in the excitement of a new business. Before you invest in embroidered leather treatment tables, make sure you can pay your bills. One medical spa startup spent $350,000 on build out and didn’t have any money left to attract patients. They were out of business in four months.

A few simple finance rules:

o The Golden Rule is actually translated as: He with the gold makes the rules.

o You will end up being personally responsible for the money: Physicians sometimes think that they can use equity in their medical practice or future earnings as security. Nope.

o Be frugal: Take only the amount of money you need. It’s tempting to take as much money as you can get. Don’t. All the money you take will come with strings attached.

o Take enough money: Lenders hate it when you need additional money. They worry something’s going wrong in the original plan.

o Sometimes you can’t get there from here: Competition is fierce. If your market is already “owned” by a competitor, think carefully before going into debt to compete in a market you can’t win.

Tighten your belt: Financing is like anything else. In order to really find the best solutions you’re going to need to do some research. Find a mentor, someone who’s done it before and knows what to avoid. And remember, the most common reason that businesses fail is not lack of capital, its poor decision making.

Resource links for all of the businesses and information discussed in this article are available online at MedicalSpaMD.com

Top 10 Startup Mistakes

The following review will provide a number of examples that every entrepreneur should try to avoid when starting a venture. Some of the holes referenced below go in parallel with going out of business. With this in mind, we highly encourage you to carefully follow these guidelines. Remember, It is better to be safe than sorry. Each one of you should take your own decisions based on your due diligence, and other critical factors.

1) Having one founder. Startups should have more than one founder. The reason for this is credibility. Having at least two founders helps to diversify the work. It’s also a good thing if the founders are from different backgrounds, so that each one of them has something different to add to the mix.

Moreover, investments can be difficult to pitch with only one founder. With this in mind, potential investors might feel as though your ideas are not good enough. From a psychological stand point, when you are involved in a startup there are going to be more bad days than good days (yes we know, it is unfortunate). Having another founder that will support you through such days, and vise versa, is key. One of the best things about the early stages of a startup are the brainstorming sessions. It is impossible to describe with words the great satisfaction of coming together as a team with the perfect solution to a problem. Avoid individualism – that kind of spirit does not get you far. Team players are key, try to stay together as one and create an environment where everyone has each other’s back.

2) Wrong Location. Location is key. If you are located in the middle of nowhere it will be very hard not only to attract talent, but also the investment that will help you to build and launch your company. If you have an amazing idea and plan on executing it the best way possible, try to move to a bigger city where there is more action happening. In the beginning it will be hard to get used to a new city and to all the new changes, but you can certainly believe that in the long run it will be worth the struggle.

Some of the best cities to start a company are Silicon Valley, Boston, Seattle, Austin, Denver, and New York.

3) Doing too many things at once. One of the biggest issues that startups have is trying to do too many things at once. This creates distractions and focuses less on the tasks that need to get done. Do not try to go big right away. Make something small and make it better than anyone else. Once you have built your initial idea, then is the time to start adding new features. The easier you make it for the public, the better; otherwise they will get overwhelmed and won’t understand what you are doing.

Remember. There is nothing wrong with changing the idea that you initially started with in spite of what the market is demanding from your product. Some of the greatest projects did not turn out to be the way they were planned.

4) Hiring C- employees. On average it can take around 2 to 3 months to hire a person depending on your location. We advise you to be on the look 24/7 and never stop interviewing people. Talent is hard to find, but not impossible.

In the event you are a startup involved with the tech industry, make sure that you are hiring the best programmers. Before hiring them review projects that they have been working on, see case studies and ask for a first hand account from previous customers. This will help you in making an informed decision.

Furthermore, we recommend that you stay away from recruiters at an early stage. They do not care about your company as much as you do and the only thing they are going after is their 25% commission based on the annual salary of the potential person that you are trying to hire. This is way too much money for a startup to throw out the window. It is a pain taking care of human resources, however, someone’s gotta do it. After all, this is your company!

5) Launching too soon or too late. If a startup launches their project too soon, there could be a possibility that the product is not complete, and will not satisfy consumers. The main problem here is that if the project is not finished, it will completely turn off its users and as a consequence, people will not come back. On the other hand, you may have the problem of launching too late. This issue not only gives a bad image to the company, but since you have not been able to accomplish your milestones, it also creates a hole in the company’s pockets because keeping the lights on is not cheap.

From our point of view, launch when you have something solid. Don’t plan to launch the absolute best while waiting until such process is complete, launch with what you need and keep moving forward.

6) Raising more or less then the capital needed. Startups make this type of mistake all of the time. Make sure you have developed a detailed business plan that you are constantly updating and following carefully. This business plan should be the company’s guidelines when entering a round of financing. Keep track of your finances, and know when you are running out of money. Be sure to plan accordingly so that you can raise a little over the money that you need (in case of surprises) to carry your company until the next round of financing.

7) Lack of budgets. When startups raise money they sometimes forget that money is very easy to burn. Even though you might feel like you have everything covered, that will most likely not be the case. There are always unexpected expenses that come along the way. With this in mind, we highly encourage you to keep all the expenses as low as possible. Try to negotiate every single invoice, and extend as much as you can for the sake of your company’s cash flow. Try to operate only with the necessary number of employees. Another example of spending money could be moving into an expensive office space before the company is making any revenue. There are plenty examples of startups that blow up their bank accounts by renting very nice offices.. The moral – avoid getting an office space. Have it all start from your house if possible and only move into an office space when it is the absolute last resort.

8) Investors with lack of knowledge and expertise. Raising money is a tough battle. Dead money is the kind of investment that comes from a person who does not give an added value to the company. A good example of this would be startups who only bring in any of their friends or family members at an early stage. These kind of investors will not contribute the drive needed to have a successful startup. This can also turn off angel investors and venture capital firms that might want to jump in at a later round of financing. Another piece of advice is to not have a large number of investors at the Seed Round (first round of financing). Otherwise it will get too crazy with the legal paperwork on the next financing round, and as a consequence the attractiveness of the startup towards VC’s and Private Equities will be extremely reduced.

9) Arguments between founders. There are many examples of founders fighting, which can potentially result in losing a team member. Try to avoid fights, establish guidelines so that it never gets to a situation that it is impossible to handle. Make sure your startup has a healthy working environment. Remember, startup life is very hard to begin with, do not add additional obstacles and always try to understand each other. As explained in our article “10 Must-Know Legal Tips For Startups”, having restricted stock will prevent founders from walking out of the company with all the stock. Starting a company is not a joke, and is a long road to follow full of obstacles and darkness. Make sure you have a trusting and special connection with that person that you decide to share this journey with.

10) Lack of marketing. Your startup may have a unique product or platform, however, if no one knows about your product it’s the same as it not existing. Make sure that you get the word out and reach as many people as possible. Figure out what are the best marketing channels in order to reach the right audience. Keep in mind that print media or advertisements are less affective than online resources nowadays. In any case, as a startup your company should NOT spend too much money on advertisement.

Business Plan Mistakes To Avoid

Don’t Do The Following

Claim A Lack of Competition

Some entrepreneurs get carried away in their zeal to demonstrate barriers to entry that set their company apart from others. A “Barrier to Entry” is proprietary information or knowledge, or a set management team experience no one else can claim. Factors that make your company stand out are attractive, but the reality is that no business has no competition.

The Industry Analysis section of your Business Plan must show the size of the industry in which you compete. The Market Analysis will show the sub-set of that industry on which you will focus. The Competitive Analysis must show your competitors strengths-and how you will overcome them.

You can have your cake and eat it too, in other words. You must show there is enough competition to convince investors that the market is large enough to cash in big- time, but that your strategy is focused and unique enough to navigate an exclusive path through the waters of that competition.

Use First-Mover Advantage As Your Chief Exit Strategy

Companies who’s sole exit strategy, or investor payout point, is to flood the market with a new product or service, and then sell the company in a year, will not find worthy investors. Things move too quickly in the information age. Investors want a company that can grow quickly but steadily in phases. They look for Business Plans that show a sober, realistic lookout, and fiscally responsible exit strategies.

Target Just One Large Company To Eventually Buy Your Smaller Company

For example, if your company is developing new software, do not place all your eggs in the Google and Microsoft basket. If the exit strategy of your Business Plan depends on a larger company buying yours, provide parallel case studies. Show sufficient evidence that the conditions are the same for your company as they were for the successful sale of the case study companies.

Furthermore, show why a larger company would not want or be able to develop the same product in-house.

Let us be absolutely clear:

Don’t Claim a lack of competition

Don’t Use first-move advantage as your chief exit strategy.

Don’t Target just one large company to eventually buy your smaller company.

Avoid those Business Plan mistakes and your path to funding will be much clearer. Make sure to set your Business Plan aside once completed for a few days and review it again with fresh eyes.

8 Business Plan Mistakes to Avoid

It is hard to get a funding from a business plan, even a very good business plan. You can give yourself a much better chance of raising capital if you avoid eight common business plan mistakes.

Your business plan may be the first thing investors see, and it is important that your business plan be written professionally and excellently. Investors see thousands of business plans each year, and the ones that get funded are less than 1%. You will greatly improve your chance of getting funded if you avoid these mistakes.

1. Mistakes in Overall Content

A well written business plan finds the solutions to problems that customers are looking for and will pay money to solve. The plan dos not need superlatives to say that it is great. If it is great, the readers will come to that conclusion. Also, be sure your plan presents a focused strategy to solve only one problem in the target market.

2. Stating “There is no competition”

Every business has competition, either direct or indirect. A competitor is everybody else that is trying to sell to the same target market. Your plan should show how you differentiate yourself from competitors and show that you are stronger in the market.

3. Too Long and Technical

Your plan must convey your business idea concisely. Any detail that you believe is important can be included in an addendum. Also, your plan should not be too technical or scientific. Keep it simple.

4. Poor Organization

There is a logical way that business plans should be put together, and each section should logically flow into the next section. You can finds hundreds of resources that tell you what the basic sections of a business plan should be, and you or any professional you hire should follow this advice.

5. Incomplete or Inaccurate Financial Statements

You must use the right terminology in describing the financial condition of your business. The financials should contain enough detail to fully support your important assumptions.

6. Unreasonable Financial Projections

All the numbers in your financial projections should be reasonable and similar to financial projections of other companies in your industry. Your financials must include Income Statements, Balance Sheets, and Cash Flow Statement, and they all must be prepared in compliance with GAAP.

7. Writing Errors

You must use proper spelling and grammar and cannot be redundant. Be sure your plan is attractive, interesting, easy to read, and professional looking.

8. Timing Mistakes

Have your plan in final form long before your presentation to investors. You may not have the 500+ hours required to write a business plan. Then you must hire a business consultant to write your plan. Be sure to have another objective person read the plan thoroughly and give you some feedback on its effectiveness before you show it to investors.

Top 10 Mistakes Entrepreneurs Make When Choosing a Business Name

In this rapidly growing economy, it is commonplace to see businesses in every nooks and crannies of the world. Sole proprietorship is having the highest number of registration. From the home-based entrepreneur to the shop owner, and then the small office consultant, people are taking advantage of the freedom enjoyed in becoming their own boss.

Billions of corporate monies are invested yearly in starting new businesses. A visit to the Lagos office of the nation’s registrar of business names buttresses this fact.

While it is true that anybody can start up a business of their own, many entrepreneurs have fallen short of the leveraging that accrues from this experience. This, to a large extent, has to do with the disadvantaged names worn by these businesses.

A business does not actually begin by formulating a business plan or opening a bank account. It starts from choosing a name. There’s more to business names than just identity. The right name is an advertising tool. If the name doesn’t describe the nature of your business, potential clients may not realize that you offer something they need.

Let’s take a look at the top 10 mistakes to avoid when choosing a business name:

1. NOT KNOWING WHAT KIND OF BUSINESS YOU ARE IN. It is surprising that some entrepreneurs choose a name with little or no indication of what type of work the organization actually does. Including a descriptive word in your business name can be useful when marketing your products or company. This may be made possible if you have identified what differentiates you from competitors. Take the following examples:

Adenix and Sons

One Love Enterprises

Just You Shop

Can you tell me what any of these companies do? No! They’re relying on customers already knowing who they are (a tricky proposition for new businesses).

2. USING A NAME THAT IS TOO LONG, DIFFICULT TO REMEMBER, SPELL OR PRONOUNCE. A good name is something that can be mentioned on radio or over the phone without explanation. People will make a quick decision based on their first impression of your business name. Put the name through a spelling test and ask others to spell it. So, choosing a name such as “Lolitoesy” is not a good one.

3. NOT SPENDING QUALITY TIME BRAINSTORMING. Business names are not “spur of the moment” creations. It is the result of possibly long days and nights of brainstorming, digging the Thesaurus for synonyms and antonyms, interrelated words and words that have some kind of relationship with the proposed business activity. The big companies even hire expensive consultants to help them choose the right name for their businesses or products.

4. PROMOTING A NAME WITHOUT TESTING AND CHECKING ITS AVAILABILITY. Once you have chosen a few names, test them out on friends and family, potential clients and everyone you know. Ask them what kind of service they feel you provide and feeling they get about the name. You’ll be surprised at how honestly they give you suggestions. Then you can proceed to check availability at the name registry nearest to you after being convinced it’s best. Don’t waste money on letter heads and complimentary cards trying out a business name already chosen by someone else.

5. CHOOSING WORDS WITH NEGATIVE OR NEUTRAL CONNOTATION. A word’s connotation can be positive, negative or neutral, depending on the emotional associations that people generally make. If you are starting a transport business for instance, you don’t want it to have a weak sounding or negative name, such as “Willow Twig Trucking” or “Kitten Transport”. You want a business name that conveys strength and reliability. A choice such as “Stone Creek Transport” would be much better. Remember: Words are powerful.

6. NAMING A BUSINESS AFTER THE FOUNDER OR ANY OTHER PERSON. It is a common tendency for a business to be named after the original founder. This approach can make customers expect the personal attention and care of the owner. Using your name, followed by the type of service works well if you have an already established reputation in your specialty. But, if you are planning to one day sell your company, a company-owner named business is less attractive.

7. NOT CONSIDERING THE FUTURE. Robert Dilenschneider wrote about a public relations person who broadened her services from just writing to media relations and had to change the name of her business from Miller’s Writing Services to Miller’s Communications. Aside brainstorming for ideas, you need foresight in choosing a name. Even if you are operating a highly-niched product, select names that would represent a broader category of your product line.

8. FAILURE TO GET THE RIGHT DOMAIN NAME FOR YOUR BUSINESS. If your business activity is almost 100% online or will do better having an online presence, you may need to consider starting your search by getting a suitable domain name for your website first. In the modern world of the internet, where people automatically turn to the web for information, it pays to have a domain name that reflects your site or business.

9. NOT AVOIDING LAWSUIT. Be unique. The best you can be trying to be someone else is second best. Avoid being a copycat. Using a name similar or identical to that of another business can get you into problems including legal issues. If you call your line of equestrian apparel “Polo Sporting Designs”, the holder of the trademark “Polo” – the giant Ralph Lauren – may slap you with a lawsuit.

10. NOT CONSULTING A BUSINESS NAMING EXPERT. While the services of lawyers, chartered accountants and chartered secretaries can be invaluable in the registration of a business name and company, these categories of professionals might not understand the selling and marketing principles that copywriters can use to your advantage. A good copywriter is always looking for ways to help you communicate more effectively to more people.

Prevent These Business Mistakes With the Right Global Markets Reports

Information, is the most important term in business – it’s what you need to stay ahead. Using the global markets reports related to your business, you can assimilate all your resources and use them effectively.

Business experience might not be enough to propel your brand into the market, or a new one at that. Data also needs to be utilized in a way that it creates a constant flow of solutions. It&rsquo’s important to gain a better understanding of your buyer, competitor and market – or what it really takes to stay competitive. Without the right ideas, answers and information at your disposal, you could find yourself facing these issues:

Maintaining over-optimistic strategies:

Most entrepreneurs start out with and noble idea of where they want to take their brand and often get carried away. Exemplary planning, without adequate research to support it, could destroy your business entirely. This is because, in addition to developing a really good business idea, you have tested out its viability – preferably before you set up your business.

Research will help you to understand the level of customer expectations or type of needs they have. It identifies the right product testing tools you should be using and ways to factor in the feedback or results of these preliminary tests.

Avoiding collaborating over business ideas:

A business idea cannot come into play overnight. You have to invest the right amount of efforts in sharing it with partners, colleagues and even customers. This is where you will find the suggestions or opinions necessary, to improve on your idea or find new ones altogether.

That being said, it’s important to share your prototype or idea with trustworthy people. You also need to understand how to protect your ideas from being stolen or being used in unscrupulous ways.

Not understanding your customers or market:

The biggest danger of overlooking research is that you end up selling your product in the wrong markets. You wouldn’t even know how strong your competition is, leading to the untimely failure of your product.

To prevent this, you can use research reports to gain access to data on government laws, social norms for developing your own business networks. You can even get an understanding of the sector you are in to discover prevalent purchasing trends.

Bad or inadequate financial planning:

Business capital is important too. The reluctance to prepare yourself with the right amount of it and have contingency plans ready could lead to a lot of problems. It might even prevent you from taking an idea forward, even if happens to be a very viable one.

Capital is what will help your brand to survive and shows that your business has a future. This is one part of your business plan that will appeal to investors, should you choose to look for any. Research report data is what you can use to structure your financial objectives. It identifies damaging situations that could lead to a negative result such as inflation rates, political instability and ways to resolve them.

Common Small Business Web Design Mistakes to Avoid

As a small business owner, you probably already know that your website is a very important tool for marketing your brand and reaching your target audience. Ensuring your website design is attractive and functional to your audience is also necessary for success. Unfortunately, there are quite a few small business web design mistakes that are all too common. Sometimes this occurs when small business owners hire a cheap designer and believe they’re getting a value, although sometimes it’s mistakes the website operator makes by excluding certain important information.

To make sure you maximise the potential of your business website, keep these pitfalls in mind and avoid them.

Mistake 1: Not Building Trust

Building trust with your audience is arguably the most important thing any small business web design should do. There are actually some really easy and quick ways to build trust, as well as improve your conversion rate. Start my making sure your full address, company name and phone number is included on every page, preferably the footer. If you have an e-commerce storefront, make sure you are displaying badges like your SSL certificates and sitelock. After all, most people are not going to want to place an order if they doubt the professionalism and security of your website.

If you are a very small business or a freelancer, it also helps to add a picture of yourself to your “About Us” page along with a personal quote. Be prepared to be very transparent about your services and offer as much detail as possible, including any return policy or guarantees you provide. You should also have a privacy policy on your website, which tells your visitors what you will and will not do with their personal information that’s collected.

Finally, consider adding the rel=”publisher” link to your homepage, which points to your business’s Google+ page. This way, the image used on your Google+ profile will be displayed alongside your website on Google search results.

Mistake 2: Website is Too Flashy

It’s not uncommon for business owners to get a little carried away with the content and design of their website, requesting flashy graphics and bold colours that detract, not add value. To effectively market your brand and improve visibility, you want a clean and minimalist interface that impresses customers but makes it easy for them to find what they are looking for.

Content should be straight-forward and relevant, not a long rambling monologue or an excuse to stuff in keywords unnaturally. Users should come away with a good experience and feel like they found exactly what they were looking for.

Mistake 3: No Call to Action Buttons

Call to action buttons are important because they funnel your visitors further into your site. By keeping website users on your website for a longer amount of time, you’ll lower your bounce rate and increase the chance of a conversion. It also improves user experience by directing users exactly where they want to go, assuming it isn’t overdone. If you sell insurance, for example, you would have a call to action button encouraging users to request a quote. If you sell products online, you would have a call to action button for users to “Buy Now” or “Add to Cart.”

Mistake 4: Not Using the Rel=”Nofollow” Tag on Outbound Links

Finally, a really common small business web design mistake is not using the rel=”nofollow” tag on outbound links away from the website. While it may not seem like a big issue, it actually allows you to control the “link juice” of your website, which gets leeched out to all of your “dofollow” outbound links. Only links going to your internal pages should be “dofollow,” which means they pass along this link juice.

It’s also important to avoid linking to a lot of low authority or low quality websites, especially if you do not have a great deal of inbound links to your website.

Unfortunately, these mistakes are all too common, but very easy to fix, for the most part. As they say, an ounce of prevention is worth a pound of cure, so the best option is avoiding these mistakes in the first place by working with an experienced individual who can create a custom web design for your business.

5 Most Common App Development Mistakes You Need To Avoid

Having a mobile application has become imperative for every business today right from startups to SMEs and enterprises. Mobile apps have made life easier and faster than ever before. And today almost every smartphone user prefers using an app for almost everything they need right from buying their daily grocery items to other essentials, garments, booking tickets for movies, planning trips, reading news, playing games, and more. And it’s because an app can be opened and used with just a tap on the device. This increasing use of mobile applications has also made millions of businesses have an app on one or more platforms. As per Statista,

More than 5 million applications are already there on the App stores serving the users in different ways.
The Google Play Store has over 3 million apps today, and
The Apple App Store has more than 2 million applications.

This huge number of applications already existing on the App stores has already increased the level of competition. Having a flawless and user-driven app is important today to stay ahead with the maximum number of users. And for this, it is essential to create completely bug-free and high-performing apps overcoming all the challenges and complexities and avoiding all common mistakes during the app development process.

Here are the most common mistakes app developers need to avoid to end up with an ROI-driven and user-friendly mobile application.

Avoiding these following mistakes can help developers create a device compatible, user-friendly, secure, and competitive application keeping the business requirements, target users and the current market demands in mind.

Not doing proper market research:

Doing proper market research is important before getting started with app development. The App Stores are over-flooded with different types of applications. And staying above the competitors is not that easy. Doing thorough market research can help you to get an idea of what are the strong and weak points of the similar competitive applications already existing on the App Stores. And knowing what the competitors lack and what they have can help you to include better features and functionalities in your app keeping the current market demands in mind. And this can ensure more user retention and user acquisition of your application.

Overloading the application with too many features:

Many of you may think that adding too many features can make your application more detailed and powerful. But this is not the fact actually. Adding too many unnecessary features can simply make your application heavy, slow down the loading speed and can deteriorate its performance at the same time. Keeping minimal features can make the app look cleaner, clearer, lightweight, and can enhance its performance and loading speed as well. Also, the fewer the features, the less confusing it will be and the less the chances will be to install it.

Building the app without considering the target audience:

One of the most vital factors you need to consider before getting started with the process is to know for whom you are building the application or who are the target audiences, what are their tastes and preferences. One of the primary objectives to build and launch an application is to gain the maximum user engagement and this makes it essential to consider the target users and their needs and expectations first.

Not considering the OS and device compatibility:

No matter you are creating the application for iOS, Android, Windows, or for all, you need to ensure that the application offers the same look and feel on all devices. This means you have to build a device compatible application considering the OS on which the application will be launched. You need to be aware of the market fragmentation of the Operating System and then create the application for all the devices supported by that OS. This will increase the user base and will ensure a great user experience irrespective of the device one is using.

Not paying attention to the current updates:

The process of application development does not come to an end once the application is launched. Regularly updating the application is also important. New technologies keep on emerging in the app market and staying updated with these is crucial to stay ahead on the App Stores and to ensure your application is always up to date.

Developers need to consider several factors in mind to give a competitive edge to their applications like application performance, the mobile application design, app optimisation, troubleshooting, proper testing of the application, the app icon, bug fixes, user engagement, user experience, security of the application, etc. Building a successful mobile application is not that easy today and this makes it important to consider these factors and identify and avoid all these above-mentioned mistakes during app development.