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Key lessons I learned about starting a business

December 18, 2013 by Guest contributor

Key lessons I learned about starting a business – Andrew Slack of MoreNiche/Business with Start Up word{{}}Starting a business involves making an often tough, but amazing journey. I was fortunate enough to have started ‘tinkering with the internet’ right when affiliate marketing was just starting to evolve. At that time eBay, for example, would pay for every website visitor they received, even if they clicked straight back off. I could see the enormous opportunities and decided to pursue them.

I completed a degree in computer science before going into business with my best friend, using the money I made designing and selling my first website. I developed a very basic affiliate programme and learned all the basics to being a single Internet marketer, website management, design html and online marketing. I did not know it at the time but this would eventually become MoreNiche, the affiliate marketing company of which I am managing director. We decided to specialize in the growing health and beauty industry.

The business really started to take off and in 2007-2008 we grew sales to such an extent that we broke the £5m per year turnover mark. All our growth came organically from our own affiliate work, but later from partnerships. 

Face problems head on. There is always a solution

We’ve certainly learned lots of lessons getting where we are today. Every business has its challenges. One time I had to work solidly for 36 hours because someone had managed to paralyse our systems, which meant that none of our websites were working. After much soul searching and a severe lack of sleep, I eventually managed to get us up and running again. 

We’ve had numerous other bad experiences, including a credit card processor going bankrupt, which severely dented our profits, as well as a supplier selling us tens of thousands of units of product that simply were not as described. The important thing is that you learn from such things, deal with them and make sure they don’t happen again. 

Success is a team effort

One of the most important lessons I have learned since starting MoreNiche is that success cannot be achieved alone. A business, no matter how big or small, is really just a collection of people working towards a common goal. It’s these people that will either make you a success or not. I have some superstars who have worked with me for many years and I would not be here without them. Rewarding key staff for their dedication is critical.

Never take your foot off the gas

Having the creative freedom and the technical foundation to try ideas out has allowed me to enjoy business and continue to thrive on tomorrow’s challenges. It would be very easy to take the foot off the gas and relax a little, but that’s just not in my DNA.  For whatever reason, I just want to go further.

Blog supplied by Andrew Slack, managing director of affiliate marketing business MoreNiche, which specialises in the health and beauty industry.

Further reading

10 top tips for saving money on office printing

April 01, 2010 by Matt Bird

It is a well-known fact that ink is now more expensive than gold – and last time I checked not many companies were printing in gold. So how can you minimise your long-term printing expenditure? Here are my ten tips.

1 Separate cartridge slots
Great saving potential lies in simply switching from a printer using tri-colour cartridges to one with individual colour cartridges. You only replace what you use, thereby minimising waste and with ink/toner now containing chemicals to counteract drying out, you needn’t worry about cartridges sitting dormant.

2 Draft print mode
Draft uses up to 50 per cent less ink than the default print mode, with the only downside being a small loss of print quality. It’s a great money-saver and you can easily switch back to the standard setting when printing important or presentation-quality documents.

3 Greyscale prints
Do you need to have colour in all letterheads, text and images? If not, select greyscale in your printing options. This only uses the black cartridge, saving the more expensive coloured ink for important pages.

4 Low ink performance
Some printers will mix all three colour cartridges to maintain printing, even when the black has run out. Check your printer guide. If yours has this feature, you need to monitor black ink levels rigorously to avoid draining your colour reserves at a horrendous rate.

5 Duplexing
Technology is your friend. Duplexers (printing on both sides of the paper) save not just time and effort, but paper costs too. Even budget-end printers may now include this feature.

6 Print in batches
There are two important factors to remember for each separate print request sent to your office printer:

  • Laser printers must warm up.
  • Inkjets lubricate print heads.

You will use less power and ink/toner if you send print requests through together, instead of forcing the printer to run numerous start-up and cool-down procedures.

Additionally, certain printers perform print head cleaning every time they turn on, which wastes ink. If your printer manual lists this attribute, either limit how often you turn it off or only turn it on when you need to do groups of printing.

7 Paper quality
Printers have become more tolerant of lower weight (ie thinner) paper, making it an ideal way to limit costs for documents that don’t need a professional finish. Look out for reams of 80gsm paper, as this stock can still give nice prints and good cost savings.

8 Paper settings
Not many people know that their printer’s paper settings can impact their ink usage, and thus your costs. Different papers have varying absorption and dispersion rates, which will be pre-programmed into printers. To confirm your setting matches the paper you’re feeding into the printer, when you select print, quickly take a detour through to “Properties”, locate the “Paper type” option (typically in the form of a drop down or tab) and ensure they match. This will eliminate any ink wastage and help reduce costs.

9 Recycle paper
Make it a habit to check if sheets of paper are blank on the reverse before binning them. If there’s no print and the edges aren’t damaged, you can add them to the printer tray and use for producing draft prints. This saves a lot on cost, as well as being more environmentally responsible.

10 Go compatible
The stereotypical dodgy refilled cartridge vendors have been rendered obsolete by advancements in quality requirements. Compatible (third party) cartridges must now meet stringent testing requirements to be listed on respectable retailers’ shelves and websites – and are of course cheaper.

Matt Bird works for printer cartridge superstore StinkyInk.

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