We’re getting a lot of our factual content from the site ready for the new Wiki. The money content that used to be in the old Growth Center is being published on the Blog over the coming weeks, in preparation. This is a series of articles and templates on raising finance and, just as importantly, looking after it. We are also republishing the series of money spreadsheets to help control finances in a start up and early stage business.
Speaking of the Wiki. This will start out small and hopefully grow over time. For the short term Blog submissions will continue to be the way for contributors to get factual content into the Wiki. When the Wiki is up, contributors will be able to input directly. Hopefully if we get enough engagement, content here will be constantly kept up to date and relevant. Everyone who contributes will as usual, get full credit for submissions/amendments etc.
As we look through the Blog, a lot of it’s content will go directly into the Wiki as is. With the improved search facility, users looking for information on various aspects of business will probably find something interesting on the Blog. It’s also been pretty good at aggregating topics that have been discussed in the forums, with users stepping up to the mark and writing up an article on some topic that’s being discussed.
A good example of this has been the ongoing topic of getting paid on time and credit terms. It’s still an issue with regular contributor bigbluesquid saying that he’s read a lot of posts and articles on the topic. He says:
“I have been running my business part-time for four months now with great success and from the start of May will be operating full time. I’m acutely aware of cash flow management from previous business successes and failures but I would like to set credit terms for all new customers. It’s essential to me that every new client is a relationship, not just a sale so I am keen to ensure payment issues do not become an obvious wedge between working with a company. I’ve read a number of excellent articles and posts on this forum for enforcing payment but real world pre-sales ideas or other methods that won’t alienate a client would be very useful.“
Not only were we able to point bigbuesquid to some past articles, but, accountant Stuart Meharg piled with a new insight based on also having a relationship with the customer’s accounts department and understanding how its processes work. Stuart has also written a valuable larger blog on the subject and will add to an even greater body of work on this important subject when its all eventually (not long now) poured into the Wiki.
Three other great friends and valuable contributors to this site – harent, Eoin K and Kendlebell – ask about bank managers understanding SME business? in the forums. To be fair lads, there’s not many people including the poor old bank manager that can tell you three much about business or indeed how banking works. For the rest of us, there’s a couple of classic articles on the blog about us understanding banking and making good financing choices.
Still rooting round in the forums, here’s a few people that are looking for help.
Aine MacManus, who is opening a new restaurant in France, is looking for some inspiration on doing some projections. She asks:
“Does anyone know how detailed cash flow projections need to be for business loan applications…..I’m looking for finance for a restaurant and I was wondering if my projections should be weekly/monthly/quarterly? Any help would be much appreciated, thanks!“
Hopefully the Blog’s spreadsheets will help her paint an accurate financial picture (also found in the start up center under the Finance Module). And as usual the community are piling in with help in the forum. Bonne chance à la nouvelle entreprise, Aine. PS Why don’t you post a picture of the old church where you’re planning your restaurant?
And what about some help for Andrew Maher from Merseyside. He’s a fashion student who’s starting a fashion business and is already ‘getting it’. Its a business! and he’s looking for connections and any help/advice he can get. Don’t let business turn you into a clone Andrew!
Lets finish with a different kind of design. Jim Roche is in the process of patenting a design concept for a medical device. He’s looking for tips or pitfalls to avoid. Not only has Shauna from Hault piled in with some help, but we can also point him to an expert article on IP on the blog by Eddie O Gorman.
And here is where Jim is giving back:
“I have a lot of experience in sales and applications on medical equipment, specifically neurology, cardiac, vascular and ultrasound. If I can be of any help to anyone, just ask.”
This is starting to work isn’t it? Collaboration, perpetual motion of information, shared wisdom….
Don’t forget the Avatars
Enjoy the upcoming weekend. If you get any decent photographs of yourselves over the break put them up as Avatars. Yes this is a polite way of saying PUT UP AVATARS!