Dodo Loves Marketing

Once you’ve done your market research and worked out if you can make a profit from the business, the next step is to take advice. This will not only confirm whether your calculations are realistic, but can take a lot of the pain out of setting up. The good news is that there’s lots of advice available - and much of it is free. What’s more, experts on small businesses reckon that over 60 per cent of small business failures could be avoided if only people took advice in three areas - money, management and marketing.

1 TECs/LECs A good place to start is your local Training and Enterprise Council (TEC), or Local Enterprise Council (LEC) . These can also put you in touch with other helpful agencies; such as your local Enterprise Agency and Business Link. You can find them through your telephone book, Yellow Pages or local library. The Department of Trade and Industry also has a hotline. ..more

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Making The Deal

When you finally find a car that looks good, runs well, and seems like a fair deal, go back with a parent or friend—someone who’s more objective than you are. It’s easy to get infatuated with a car and miss some of the troubling details. Be sure to ask the owner about the car’s history of accidents and repairs. You may not get a straight answer, but it’s always wise to ask. Also, ask for records of maintenance and repairs. A person who keeps a file of receipts is generally someone who takes care of cars.

If it still looks like a good deal, take it to a mechanic. He can run simple tests on the car, inspect the brakes and fluids, and tell you if there’s anything scary lurking out of view. If the car has big problems, look for another—you don’t want to be buying someone else’sproblems. If the car passes your mechanic’s inspection, make an offer. ..more

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The first and totally obvious way to save up your money is to put it in the bank. Duh. You know that. But you may not know exactly how banks work, the various accounts they offer, and why it’s important to shop around for your banking needs.

Banks and savings and loans are good at coming up with fancy names for their accounts; names like “Advantage Plus Mega-Money Super Savings Certificate Account.” But most of their accounts fit into one of four basic categories:

1. Basic savings accounts (sometimes called passbook accounts) have little or no minimum balance and pay minimum interest. Advantages: You can withdraw your money whenever you want (no minimum deposit period), and you earn more interest than if you hid the money in that secret place near your bed (shh!). Disadvantage: You don’t earn much interest. ..more

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Bank CDs (Certificates of Deposit) are a smart investment for teenagers. Unlike most other investments, gains are guaranteed, and the interest rate is higher than a regular savings account. And because your money is locked up for the prescribed time period, you can’t spend it on a new wardrobe in a fit of insanity. If you have money sitting in a savings account or piggy bank, stick it in a CD and start earning some real interest.

But there’s just one problem. What if you don’t have the $500 or $1,000 minimum to open a CD? Three solutions:

1. Sweating. Save your allowance, store up the birthday checks, work a few extra hours—and above all, spend less. ..more

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