IT Visionary - Home & Small Business Review

Aimed at the small or home-based business, this version of the Business Review offers an overview establishing what your business IT costs and needs are with opportunities for savings identified. It also is used as a feasibility tool to see if a project is a sound business idea or not as the case may be.

Prior to any review an online questionnaire is completed outlining the business you are in, the size of the operation and how long it has been trading, amongst other details. Once completed an appropriate review time and location will be arranged. This can be during office hours at the Styleweb office in Crendon Street, High Wycombe or at your business premises if you are already trading. If you are a home-based business we can meet at home during the evening or weekend.

With the background derived from the questionnaire, the review quickly gets to the main issues of the business. Below are the review details for set out for both a new and an established business.

For a new business purchasing new IT equipment, brochure & website creation and the like are the main IT issues. Cost of materials and other expenses will be considered together with the sales income. A new business will probably not make profit for maybe three years so working out how the company and owners survive during that time will be discussed. One area where IT can save a new business money is doing the accounts. Keep paperwork in a box file and your records on a computer. File the accounts – job done. The time to use an Accountant is when your business is VAT registered.

Existing business will focus on savings and value for money. Buying hardware and software that does a job, not necessarily the best or newest would be a start. A small business, be it just one person is likely to have more than one IT location. The home PC, laptop, PDA or office PC. Working efficiently between these sources may need some planning. Managing customers for initial contact to invoice is another computer strong point. Investigating how this can help will be undertaken.

For both business models areas of reference will be defined. The obvious one is profit. If cost savings could generate more profit that is one success. If extra expenditure in marketing, for example, brought in more sales that would point to a different approach for business expansion. Once the areas for measurement are set up, self-monitoring with adjustments can take place.

The review lasts about three hours and costs £85*. It consists of:

At the de-brief the report recommendations will be discussed. A formula that takes into account the size of the business and the turnover generated, is worked out. The resultant figure is the return on investment made on the company relative to income drawn. Home businesses that break even without a true salary being taken are still regarded as work in progress.

In some cases the review may find that a venture will never make good money. In this case do heed the recommendation and consider trying some other business venture.