Ccoep booklet v9.5

Creative Cycle

Online Entrepreneurship Project

!

Table of Contents Chapter 1: Online Selling 3 Ebay 3

Setting Up Your Ebay Account 3

Fees 6

Feedback 6

Returns 6

Refunds 7

Analytics 7

Etsy 8 Setting Up Your Etsy Account 8

Shipping Information 13

Returns 13

Analytics 14

PayPal 15 Setting Up Your PayPal Account 15

PayPal Fees 15

Shipping/Royal Mail 16 Proof of Shipping 16

Compensation of Damage 16

Royal Mail Insurance Policy 17

Additional Tips 17

Chapter 2: Online Marketing 18 Getting Started 18

Facebook 18 Create your Facebook Account 18

Create Your Facebook Page 21

Twitter 27 Create Your Twitter Account 27

Linking Your Twitter to Facebook Page 30

Linking Your Facebook Page to Twitter 32

How to Use Facebook and Twitter 34

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This booklet is to serve as a guide for you to set up accounts on various websites to help you put your business online, brought to you by LSE SU

Enactus. Any information presented here may be subject to change. This was last edited March 17, 2014. For any comments or queries, please e-mail us at

[email protected] or leave us a comment at our website at creativecyce.enactuslse.co.uk !

Tips on Posting Updates 34

Importance of Engaging with Others 34

Summary 35

Third Party Tools 36 Logos & Business Cards 36

Online Competitions 36

Third Party Tools to Manage Social Media 36

Analytics 37

Chapter 3: Accounting and Finance 39 Excel/Spreadsheets 39

The Magic of Excel/Spreadsheets 41 Multiplication 42

Sums 43

Glossary 44

Online Security and Privacy 45 What are the Common Risks? 45

Tips on Keeping Safe Online 45

Useful Links 46

My Notes 47


Chapter 1: Online Selling!!There are many platforms on which you can sell products online. Some key sites for selling personal items, crafts, and handmade products include Etsy and ebay. Other sites, such as Amazon or ASOS Marketplace, are not as focused on such products, or require the seller to to show personal information. !To get started, you will need: • A computer • An internet connection • An e-mail address • A bank account or credit card • A product (with pictures) to sell

Ebay!Ebay is an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide. This section has used Christmas baubles for demonstrative purposes.

!Setting Up Your Ebay Account 1. Start by clicking the register button on

the top left corner of the homepage. 2. Registration will require few important

details such as your name, e-mail and a password. Ebay initially assigns you your own User ID. This is first automatically done by Ebay, but you can edit this later from “My Ebay”. Only the User ID will be shown to your buyer and therefore privacy is ensured. !!

Advantages Disadvantages

Simple to use Fees are relatively high

Huge traffic (over 14 million active users in the UK alone

Negative feedback destroys reputation

Receive assistance from eBay with regards to returns/refunds

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3. After registering your account, you can start selling products by hovering over the Sell button on the top right hand corner of the screen. To start selling an item, click Sell an Item. After filling out an address form, you can create a category for the product you are selling. !

4. After clicking Create Your Listing, you can add pictures of your product. To achieve a professional presence, using high resolution pictures is recommended (Figure 1.3).


Figure 1.3

Figure 1.2

5. Fill in the details of your product: Give it a title, select a condition of your product from the available options, and add a small description highlighting the main features of your product.

6. To set your pricing, you can choose between either a fixed price or an auction. It is advised that you select a fixed price, as evidence shows that you will be 10% more likely to sell your product. Enter the price and the sale duration. !

7. The delivery options provided by Ebay allows you to choose whether you will charge the customer the delivery fee, or whether you will pay the delivery fee yourself. Depending on the size of the product, different methods are suggested. For small products (jewellery, other small hand-crafted goods, etc.) it is recommended to cover the delivery charge yourself. Specifics regarding delivery fees will be discussed later.


Figure 1.4

Figure 1.5

8. After completing steps 1-7, your item should be available for preview like show in Figure 1.6:

Fees There are three types of fees on eBay:

1. Insertion Fee: These fees are paid whenever an item is listed on eBay, regardless of whether it sells, and are £0.40 per listing.

2. Final Value Fees: These fees are charged any time an item is sold, costing 10% of the value of the total transaction.

3. Feature Fees: These fees are only applicable if optional features are selected. For small start-up businesses, it is advised that these features are avoided (perhaps you can consider this after your business has a stable presence online!). !

Feedback Buyers can leave either positive, neutral or negative feedback. This is in addition to the reviews they can write about your products. Good sellers tend to have over 99% positive feedback, as it is the norm on eBay to save positive feedback on the vast majority of cases. Thus, it should not be difficult for you to achieve this. !Returns Most items on eBay are sold easily. However, sometimes if a buyer is unhappy with an item, the seller may be required to accept a returned item and refund the buyer. If you have decided to make returns an option for the buyer, there are different steps and


Figure 1.6

timeframes for returning and refunding an item. If you have decided not to include this service in your shop, then you may disregard the following steps. !If the buyer is unhappy with their purchase, the buyer will first have to ask eBay to review the case (whether the bought item did or did not match the description of the item provided on the website). If eBay determines that the buyer should receive a refund, they will put the case on hold and give the buyer 8 days to return the item. The buyer will be requested by eBay to use a tracking or a delivery confirmation number so that they can confirm when the seller (you) has received it.

Once this confirmation reaches eBay, eBay provides the buyer the refund within three days that covers the cost of the item and the original postage and packaging This refund will be taken from your PayPal account (or other reimbursement payment method, if available). ! Refunds If you have agreed provide refunds for items, you must do so within three days of promising the refund or within three days of receiving the returned item. If the seller does not provide the refund directly, the buyer can go through eBay for help: eBay will refund the buyer by deducting the amount from the your PayPal account. It is important that your credit card details are added to your PayPal account to use this reimbursement payment method. If there are insufficient funds in your PayPal account, then eBay will look for alternative reimbursement methods. eBay will always let you know when they are seeking reimbursements. Failure to cover the refund will lead to a limited or suspended use of eBay until the payment is made. !Analytics To access data on your online shop, using analytics enables you to track your sales and fees on a monthly basis. After going on the homepage of eBay, follow these steps to get access to this data:

1. My eBay 2. Account (hover over) 3. Subscriptions 4. Sales Reports 5. Subscribe !


Etsy!Etsy is an e-commerce website focused on handmade or vintage items. For this section, we have demonstrated the set-up process using Christmas baubles. !

Setting Up Your Etsy Account 1. Register an account by clicking

Registry on the top left hand corner of the page.

2. After registering, click Sell on the top left hand corner of the page. !

3. Localise your shop by choosing your language, currency and shop country (Figure 1.8).

4. Next, you can start setting up your shop. Complete the tabs displayed on the website and your shop is ready to sell. This includes choosing a shop name, listing items, providing payment methods and the different fees of using Etsy (Figure 1.9).

Advantages Disadvantages

Cheaper fees than eBay Strict guidelines: must be vintage or hand-made to be sold on Etsy

More specific to the type of product (hand-made crafts, jewellery, etc)

More complicated to set up

No risk of not receiving the money as you can post the item out after receiving payment


Figure 1.8

Figure 1.9

Figure 1.7

5. Your shop name online is the same as any other shop name offline: H&M, Tesco, Boots. Etsy will also allow you to edit and change this anytime (Figure 1.10).

6. As you create your own shop, you can also create your own look and branding of it. This means that you can design a banner (760 x 100 pixel image at the top of your shop page), a shop title (description of the shop and the types of things you offer) and a shop announcement (This is often used to welcome buyers or to promote sales). Figure 1.11 shows you an example.

7. The next step includes listing your items for sale. Etsy provides you with a series of drop-down menus where you can describe who made it, what kind of an item it is, and when you made it, and whether it is a physical item (or a digital file). If you are producing personalised item, you can choose “Made to Order”. If you aren’t sure of how to classify your products, just describe it to your best abilities with the available options.


Figure 1.10

Figure 1.11

Figure 1.12

8. Continue this process by categorising your item and selecting variations. More drop-down menus should be made available to you (Figure 1.13 and Figure 1.14)

!9. By adding images you can provide the buyers with a feel of the item. Images should

be between 800-100pixels wide, but the height can vary. Try to use natural light and include a great close up to provide a professional look (Figure 1.15).

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Figure 1.13

Figure 1.14

Figure 1.15

10. You can then add more information about the item you are selling. Add a descriptive title to your product, and remember to include important details such as size, materials used, how it was made and any other unique features (Figure 1.16).

!!!11. Continue adding more information about your product by providing additional

attributes: who it is for, if it is for any specific event, or what kind of style it is (Figure 1.17).

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Figure 1.16

Figure 1.17

!!12. Finally, you can tag your products. Like titles, tags will help aid search results when

buyers are looking for your item. Tags can be described as “words you would use to search for an item”. For the Christmas baubles, we used tags such as “christmas” and “balls” (Figure 1.18)

13. Selling Information: You can decide the price of your own item, but remember that this does not include the delivery fees. The listing fee on Etsy is £0.12 and this price does not change, regardless of how many items you list. There is an additional transaction fee, which is 3.5% of the transaction fee. !

14. Shipping Information: To ensure a good transaction, you will need to provide your seller the information about shipping. First, describe the processing time (the length of time between when your item is ordered and when it will be shipped). Second, decide which countries you will be shipping to. If you are starting new, it is recommended that you stick to the country of origin. Shipping to different countries would mean different shipping costs for each country, though you can also decide how much to charge for such fees. Figure 1.19 shows the different fields Etsy requires you to fill in (Price, Quantity and Shipping). !

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Figure 1.18

Figure 1.19

15. Every individual has to sign up with tax authorities within the first 3 months after opening an Etsy account. You can register online if you go to this web address: http://online.hmrc.gov.uk/shortforms/form/CWF1ST?dept-name=CWF1&sub-dept-nMake sure you also complete the Class 2 NI exemption form if you don’t expect to make more than about £5000 in the tax year through Etsy. You can include tax in your price. You can find more information on www.hmrc.gov.uk/working/intro/class2.htm.Otherwise, consult someone (Alexa at Eaves) for more help.

16. You are now reaching the final steps of setting up your Etsy: Etsy provides you the opportunity to make any changes to your listings. This includes the adjustment of photo (you may want to emphasise a certain part of the item - see Figure 1.20)

You can continue to make changes by clicking the grey Edit button. To save your listing without publishing it, click the Save As Draft button. You can go back to your shop, listings and drafts at anytime. Once you are satisfied with it and you click on Publish, you will be charged the £0.12 listing fee. !

Shipping Information Shipping and fulfilment are handled by you as sellers individually, giving the sellers a lot of flexibility and also decision making power about how much to charge, where to send to, etc. !Etsy has a feature called the Shipping Profile which allows the seller to group similar items that ship for the same costs. In other words, the sellers can determine the shipping costs for an item of a specific size, weight, and shipping method to a Shipping Profile. !Returns Like shipping costs, return policies are up to the seller. It is really important for the seller to fill out your policies in order to be covered under seller protection. If you are wondering what kind of policies to implement, it is advised for you to look around similar shops and read their policies and let that inspire you. Click on Your Shop at the


Figure 1.20

upper right side, then look at the left side, click on information and appearance, then policies. !Analytics Etsy’s Shop statistics provide you as sellers the volume of the traffic in your shop as well as the traffic sources. Traffic is the number of views your shop gets. This is available under Your Shop ➡ Shop Statistics. You can additionally use Google Analytics by linking your Etsy account to Google, but this will not be covered in this handbook.


PayPal!PayPal is an online intermediary banking service that makes transferring of money of sales more safe online. Various websites use it mostly to protect user identity. To create a PayPal account, you will need a bank account/credit car details. !Setting Up Your PayPal Account 1. Go on the PayPal website, www.paypal.com 2. Click on Sign up on the right top corner. 3. You will be provided with two options in creating your PayPal account: Personal and

Business. For small scale businesses, it is recommended that you pursue the Business account (this is required to sell).

4. As with setting up your eBay and Etsy accounts, complete your personal information and enter bank account/credit card details. No details are showed to buyers of your product. As you are an small independent business, choose individual from the drop-down menu under business type. Click Continue when you’re done.

5. Next you will have to fill in your account information. These steps are similar to other accounts you will create online. Security Questions may be new to you: they are simple security measures if ever you get locked out of your account (forgotten your username/password) and PayPal wants to confirm that you are the true owner of the account.

6. Click confirm, and you will be redirected to the homepage. 7. To finalise your account, you must confirm your e-mail address. You should have

received an e-mail from PayPal that has instructions on how to confirm your e-mail. !PayPal has only recently changed its system policies and so the information here is limited. If you have any questions, please contact us on our website or get in touch with the Education Training and Employment Officer at Eaves. !PayPal Fees For sellers, PayPal takes a fee of £0.20 for every transaction you make. In addition to this, PayPal takes between 1.4% - 3.4% of the transaction fee depending on the number of monthly sales. A full breakdown is shown in Figure 1.21.


Figure 1.21

Shipping/Royal Mail!To ship your products to your customers, you will need to calculate rates by weighing and measuring the dimensions of your products. You will then need to choose from a host of various mail services, for example Royal Mail (follow this web address for the prices Royal Mail charges: http://www.royalmail.com/price-finder). Royal Mail’s 2nd class stamps would be the cheapest based on items weighing less than 1kg and classifying as small parcels. Royal Mail covers compensation but does not provide tracking services. You can instead pursue Royal Mail Signed for 2nd class stamps to get a proof of delivery. Royal Mail’s charges are depicted in Figure 1.22.

!Proof of Shipping You can ask for a proof of shipping at the post office. This is important, as it allows you to protect yourself against a buyer who claimed he had not received your item. This will be further explored in Compensation of Damage. !Compensation of Damage Royal Mail may pay for compensation if an item in a postal packet has been damaged to an extent that the material function or contents has been reasonably impaired. Damage may be compensated for when it is the result of the delivery process, and excludes liability for any pre-existing damage. Royal Mail will expect its customers who are posting items that have an intrinsic value to take them to a post office that can provide the suggested and appropriate evidence (proof of shipping/certificate of posting). This will help you protect your item while it is being posted, and protect you as sellers to your customers. !


Figure 1.22

Royal Mail Insurance Policy Figure 1.23 covers Royal Mail’s Retail Compensation Policy for Loss policy:

!!Claims for loss must be made within 80 calendar days of the date of posting, or no claim will be compensated or considered by Royal Mail. Royal Mail also advises customers to claim as soon as possible after an event has occurred, to enable enquiries to be made as soon as possible. This is your chance to use your Proof of Delivery as evidence as well to make your case. !Additional Tips Packaging: Use proper packaging when your packing your product! Consider different types of material to pack your products, such as newspaper, bubble wrap, cardboard, etc. This is important as you would not want to deal with the hassles of a damaged product. !Reviews and Feedback: Reviews and feedback are especially important in online to promote a reliable shop presence. They are one of the main reasons a buyer will choose your product over someone else’s. It is important for you to maintain a certain standard which will encourage positive reviews and help you develop a reputation as a great seller with promising products. !!!!!


A. 1st class stamped, metered and VAT exempt account mail, including items sent using SmartStamp® and online postage

B. 2nd class stamped, metered and VAT exempt account mail, including items sent using SmartStamp® and online postage

C. 1st and 2nd class Royal Mail Signed for™ mail when used in conjunction with stamped,metered and VAT exempt account products above

Figure 1.23

Chapter 2: Online Marketing!

Getting Started!In this section, you will learn to create an online presence for your businesses on various social media platforms. There are two main social media platforms you can use to promote your business, and you will probably have heard of these already: Facebook and Twitter. At the end of this section, you will have:

1. Created an account on both of these websites, 2. Posted your first status update/tweet, 3. Learned to engage your audience 4. Learned to recognise the various tools and resources available

to improve your online presence.

Facebook!Facebook is the most popular, full-fledged social network. There are over half a billion people registered with Facebook, and is therefore a great resource to tap into. On it, you can use various media (including images and videos), status updates, sharing, and have friends and followers. There are two prerequisites for creating a Facebook page for your shop: an e-mail address and an authenticated Facebook account. Here we will explain how to create a Facebook Account and Page, assuming you already have an e-mail address. !Create your Facebook Account Before you start creating a Facebook account, you will need a valid e-mail address to sign up with. You can choose between either your personal one or you can use a separate one for your business if you have one. 1. Enter the web address

www.facebook.com. This will take you to the Facebook homepage. The Sign up starts right there: fill in your details as provided in the spaces. These details can be fake and can also be edited later on (Figure 2.1).


Figure 2.1

If you decide to enter a fake name, make sure it sounds a real one: using a name that has a “branding sound” to it will be recognised (like Laura’s Cool Shop). Remember to make a not of all the details you enter as it will be helpful if you were to forget your password. Click Sign Up when you have filled in all your details. !

2. Find your friends: Facebook gives you the option to add your friends that are already on Facebook to your new account. As you will want to make this your professional business account, you may want to click skip this step at the bottom right corner. You can always return to add friends later (Figure 2.2).

3. Fill Out Info: This steps allow you to fill out more personal information about your education and career. As this is not your personal account, but your business account, you may want to skip this step (bottom right corner). You may return to edit these details later if you so choose. You will also notice the many Earth symbols with a downward facing arrow on the right of the blank spaces. The Earth symbolises that the information provided will be made public to everyone, regardless of whether they are your friends on Facebook or not. Clicking the downward arrow will provide you with additional security options to protect this data. !!


Figure 2.2

Figure 2.3

4. Add a Profile Pic: Facebook gives you the option of adding a Profile Picture onto your profile. This will help others recognise who you are. As you will be using this account for company purposes, you may choose your brand logo. You can also click Skip if you are not ready to upload one yet, and you can always add a picture later. (Figure 2.4)

5. After completing these steps, you will be taken to the Facebook Welcome Page, which comes with a brief introduction on the basic features.

6. To complete the sign up process, you will need to validate your account. Validating your account will give you access to all the Facebook functions. To validate, you will need to check the e-mail inbox you used to sign up.

A. If you haven’t received any e-mail from Facebook with further validation instructions, click Re-send e-mail on the top of your window (Figure 2.5).

B. In your e-mail inbox, you should have received an e-mail that looks like Figure 2.6. Click on Confirm Your Account to validate your account.

C. Alternatively, you can use the confirmation code under the Confirm Your Account button and enter that on the website.


Figure 2.5

Figure 2.4

Figure 2.6

7. After you have confirmed your account, check your e-mail inbox for another Welcome E-mail from Facebook. Congratulations! You have now created your own Facebook account!

Create Your Facebook Page A Facebook Page is different from a Facebook Profile as it is used to promote companies, products, events, etc. It is usually strictly professional, and acts as the platform for the promotion of goods on Facebook (in contrast, a Facebook Profile is usually used for one’s personal life, friends, photos, etc.) Other Facebook users will be able to “like” your page and receive updates on their newsfeed. It is, in a way, a smaller account for your product and therefore has a similar setting-up process. !1. On the Facebook homepage, click Like Pages under the Pages on the column to the

left of the window. This will take you to the Pages section of Facebook (Figure 2.7)

2. Once you are in the Pages section, you will be invited to “like” other products - your page will become “like”-able too! Click on Create Page on the upper right hand corner to create your company’s page (Figure 2.8).


Figure 2.7

Figure 2.8

3. You will then be led to the Create a Page section. Here you can choose what kind of Page you wish you create. If you are setting up a Company page to promote your products, choose Brand or Product (Figure 2.9).

You will be led to a pull-down list where you can choose a category for your product (Figure 2.10). If you can’t find the category for your product, choose the closest one. You can then enter the name of you brand or product (Laura’s Cool Shop as an example of a brand name).You will then be asked to agree with the Facebook Pages Terms and Conditions - click the accept box. If you wish to read the full terms and conditions, you can click on the link. Finally, click Get Started to get started! !!!!!


Figure 2.10

Figure 2.9

4. About: Just like when you created your Facebook Account, Pages gives you the option to fill out details about your Company. Remember to tick the box to confirm that your brand is real (Figure 2.11).

5. Profile Picture: You can next

add a profile picture on to your Facebook page. As this is your Company’s page, you may choose to add your brand logo. You can also skip and return to edit the details later (Figure 2.12).

!!6. Add to Favourites: Facebook gives you the option of adding your company’s page to

your Favourites bar. Your favourites bar is on your main newsfeed page, and so you can easily go to your page and manage it from your homepage. You can also skip and return to include this in your favourites bar later (Figure 2.13). !

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Figure 2.12

Figure 2.11

Figure 2.13

!7. Reach More People: Your Page can reach more people by using the various Facebook

services to advertise your page to the public. However, this is a fee-paying service. If you wish to pay for these services, click on Add Payment Method and follow their steps. If you are just starting up, you may want to skip and consider this option later when your Page is better established (Figure 2.14).

!8. Congratulations! You have now created your company’s Facebook Page. You can now

quickly access and edit your page from the homepage (Figure 2.15).


Figure 2.14

Figure 2.15

!If you choose to go back and edit any of the previous mentioned details, you can do this by going to your Page on the left side of the homepage, Edit Page, and then Update Page Info (Figures 2.16 and Figure 2.17). You will then be led to a page where you can edit and update various aspects of your company page (Figure 2.18). Switch between the various tabs (General, Page Info, Admin Roles, More…) to explore how you can customise your company’s Page.


Figure 2.17

Figure 2.16

Figure 2.18

The Admin Panel (Figure 2.17) gives you oversight of recent activity on your Facebook page, including notifications, new likes, insights, etc. Facebook also offers a guided tour on the different features of Facebook Pages (Figure 2.19).

Having a Page is very similar to having an actual account. You can change your profile picture, cover and can even like other pages as a company. Make sure that you differentiate between using your personal account and your Facebook page - you wouldn’t accidentally want to post a private update from your company’s page! (Figure 2.20)

!!


Figure 2.20

Figure 2.19

Twitter!Twitter is another social media network that works through posting updates called tweets that are under 140 characters. It’s a great platform for sharing (retweets allow you to re-post another person’s tweet) and getting in touch with your customers (using hashtags or the @ mark to tweet at somebody). There are over 500 million registered users on Twitter, and is often used with conjunction to Facebook. !Create Your Twitter Account To create a twitter account, you will need an e-mail address. The following steps on the next page will guide you through it. Twitter also provides a basic tour of its features as you create the account, which will be covered in step 3. !1. Enter the web address www.twitter.com and enter your name, e-mail, and

password. Then, click Sign Up for Twitter (Figure 2.20).

2. Enter the details provided in the

blanks. You can input a fake name for your security if you wish. As you are creating an account for your business, it is recommended that your company name is reflected in the name or the username (or both). This will be the name that will follow the @ symbol when others may tag you. Click Create My Account (Figure 2.21). !!


Figure 2.20

!

!Figure 2.21

3. This is where the basic tour provided by Twitter starts. You will first see your twitter dashboard (Figure 2.22). After clicking next, you will be invited to build your timeline by finding people or companies that you want (Figure 2.23). When you find another twitter account, you can click follow to get their posts will on the dashboard. Twitter will ask you to follow 5 people before the next step.

!

!!!!! 4. The next step is similar to

what you just covered. Twitter will try to connect you with more relevant twitter accounts by allowing you to choose categories similar to your interests (Figure 2.24). Again, you are encouraged to follow 5 people (a minimum of 2 before you can skip this step).


!

!

Figure 2.22

Figure 2.23

!

Figure 2.24

5. You can find people you know by adding contacts from other e-mail accounts you have online. Click on Search contacts if you wish to find your friends, or skip at the bottom left if you decide not to (Figure 2.25). !

! 6. Finally, you can personalise your account by uploading a

profile picture. Click on Upload Image to select a picture you want to use. As with your Facebook page, you may want to choose your logo, designs or a product. Write a short summary of your shop in the Bio box as well, and then click Done! You can also skip, or come back to edit these details later as well. !!!

7. You will be lead to your new dashboard. Here you can posts tweets and see what the accounts you followed post. Try posting a tweet! Keep it short and simple and use relevant #hashtags. You can also use the search bar at the top right to search words and hashtags. This might give you insight on how other companies use their twitter to promote their products. !!!


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Figure 2.25

Figure 2.26

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Figure 2.27

Linking Your Twitter to Facebook Page!You may choose to link your twitter to your Facebook to be more efficient in staying in touch! This requires you to have a twitter, Facebook account and a Facebook Page. Linking them together will allow any tweets from your twitter to appear as status updates on your Facebook page, and vice versa! !1. Click the little cog at the top right of your screen to get to Settings (as you get more

familiar with the internet, you will recognise that cogs often symbolise setting) (Figure 2.28).

2. Next, go under Profile.

3. Toward the bottom of your the page, there should be an option to connect to Login to Facebook. (Figure 2.29) !!!

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Figure 2.28

Figure 2.29

4. You will need to authorise twitter to connect with your Facebook and then post on behalf of Facebook by clicking Ok. (Figure 2.30 and Figure 2.31)

!5. Having completed those steps allows you to post updates directly to your Facebook

account. However, as this is your company’s twitter, you will want to post your tweets to your company’s Facebook page (instead of your account, which would be personal). Click on the blue Allow button to connect your twitter to your Facebook page (Figure 2.32). You will have to then allow Twitter to manage your pages again. Click Ok (Figure 2.32).

!!6. You will then get a drop-down menu to choose which Page you want to connect your

twitter account to. After you choose, it will automatically link them together. Try posting a tweet! It should appear on your Facebook page. !!!!!!


Figure 2.30 Figure 2.31


Linking Your Facebook Page to Twitter!Previously you learned how to connect your twitter to your Facebook, sending tweets directly to your Facebook Page as status updates. This section will help you do the opposite: sending Facebook status updates as tweets. !1. Enter the web address www.facebook.com/twitter. This should take you to a page

that looks like Figure 2.33. To link your Facebook page to your twitter, make sure to click Link a page to Twitter. If you click Link my Profile to Twitter, it will link your personal account, instead of your company’s page, to Twitter.

!2. The next step gives you the choice again to choose between your Profile and your

Page to link to Twitter. Choose the bottom option under Link Pages to Twitter, and click on Link to Twitter (Figure 2.34).

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Figure 2.33

Figure 2.34

3. Now that you have chosen to link your Facebook Page to your Twitter, you will have to authorise Facebook to use your Twitter’s account on your behalf. Click on Authorize App. (Figure 2.35) You will be redirected to a new page, and then you’re done!

!!!!!


Figure 2.35

How to Use Facebook and Twitter!This section will help you use Facebook and Twitter efficiently. Though these websites features are different, there are some online etiquettes that apply to all websites, especially when promoting. !Tips on Posting Updates Whether you are posting Facebook to a tweet on Twitter, remember the following points.

• KISS: Keep It Short, Sweetheart! The more short, simple and engaging, the better. This is because people’s attentions spans are quite short on social media!

• Use media wherever possible! Post pictures, videos, songs, etc. when you can to promote your products.

• Create your own #hashtag or engage with others using other hashtags. • Consider timing your posts e.g. not posting at sleeping hours. The reach on

these posts will be very low, especially if most of your target consumers are within one timezone. This is especially important for Facebook. !

Importance of Engaging with Others There are many ways you can engage with others on social media - it is social after all! Below are some of the ways you can get engaged:

• Sharing updates on Facebook or Re-Tweeting on Twitter: by promoting other companies, you are creating a strong relation as everyone wants to get promoted as much as possible. This may even allow for reciprocity, and increase your reach!

• Comment on posts directly (on Facebook) or reply to tweets to ensure your customers that you are paying attention to their input.

• One way to build an audience includes managing a Giveaway: this generates an awareness for your products

• Reward people who are connected to your Page and show loyalty and online sales by providing them with exclusive information (product news, contests, events, give-aways)

• Stay updated with current trends, like current events or holidays. These topics can allow for discussion among your audience, and an opportunity for you to connect with them.

• Create deadlines for offers to create a sense of urgency. People are more inclined to buy something when they know it’s only available for a limited time. !!!!!


Summary The more engaged you are with your social media, the larger your audience is. The larger your audience is, the more people are aware of your product and therefore your sales can increase. The ways you can use your social media can be overwhelming at times, so here are two ways that can help you remember the different aspects of proper social media use: !

!Remember: the more you use social media, the more you will realise it's actually all around us. Next time when you enter a shop or pick up a newspaper, see how many #hashtags or @handles you can find! !

A ttention/awareness P roduct/ServiceI nterest P lace

D esire P riceA ction P romotion


Third Party Tools!Besides Facebook and Twitter, there are lots of other ways to promote your company online and offline. Here we will list some ways you can increase your company’s exposure. These tools may require you to create more accounts.Remember there's a longer list on our website. !Logos & Business Cards There are some tools online that can help you design your own logos and business cards. For logos, we recommend visiting the website SquareSpace. Their web address is http://squarespace.com/logo. !For business cards, there are even more companies online that help you design business cards. Most of these come with templates from which you choose from, and charge at different prices. You may also want to include your logo on your business card. We recommend these two companies: !

Of course you can look around in your neighbourhood printing shops and keep an eye out on their deals on business cards. It can be cheaper if you go into a printing shop, as some delivery fees don't apply. !Online Competitions If you decide to engage with your audience through online competitions, you may need to draw names from your Twitter or Facebook feed. There are three tools we recommend you:

• Twitterdraw: http://www.twitterdraw.com/ • ContestCapture: http://contestcapture.com/ • Competwition: http://competwition.com/ !

Third Party Tools to Manage Social Media If you think you're overwhelmed with all of social media’s features, you're not alone! This is why there are tools to manage your social media. It allows you to manage multiple accounts, understand your audience better through rich analytics and provides another tool that will bring you real-time notifications. !

Name Moo Vistaprint

Web Address www.uk.moo.com www.vistaprint.co.uk

Price 50 cards for £17 minimum 250 cards for £8

Others Allows you to print different designs in a batch of cards


We suggest two tools: Hootsuite: this tool brings together Twitter, Facebook, LinkedIn, Instagram, YouTube, and more social media networks. https://hootsuite.com/ !Tweetdeck: this application is a comprehensive dashboard where you can merge several twitter accounts together to keep track of different feeds, mentions, and direct messages. https://tweetdeck.twitter.com/ !MailChimp: this tool creates beautiful newsletters if you want to e-mail your audience with updates on your company. Asana/Trello: these tools are task/project managers, keeping you in track with all your business details for teamwork. https://asana.com/ and https://trello.com/ !Analytics Analytics allow you to study your market through social media. There are other lots of tools online which can help you understand your market. Some are listed below. !Analytics are important because it will tell you how effective your use of social media is. Monitoring what types of posts are getting good responses is key. On Facebook, using Page Insights will help you determine what types of content - videos, posts, questions, etc. - are getting good engagement, compared to what types aren’t. This is located at the top of Facebook Page. !Facebook has a feature called reach, which is defined as the number of unique Facebook users who see your updates. It is generally influenced by one or more of the following actions

• Your posted content on your Facebook Page. Most of your fans probably won’t it, but it still generates reach. This is called organic reach by Facebook.

• Facebook users taking action on that update (like, comment, share) which shows up as a story in their friends’ news feeds. This is called viral reach by Facebook.

• You sending visitors to that update using your own marketing channels (e.g. Twitter). Another example of this would be linking a specific Facebook update in your e-mail marketing newsletter. This would also be called organic reach.

• You buying reach with Facebook ads. Facebook offers a variety of ad options, including boosts and targeting custom audiences. This is called paid reach by Facebook.


!Another factor you will have to consider is audience optimisation. Ask yourself this: when is it the best time to post on Facebook? Obviously when most of your fans are actually using Facebook! Posting an update at 2AM will have a relatively unsuccessful reach because most of your users probably won’t be online. By the time they wake up, that post will not be the most recent update anymore. The same applies for tweets on Twitter. Facebook provides you with graphs on when your fans are online. !Facebook also provides Performance Indicators to help you analyse how well your posts are doing. This will in turn help you identity the best tactics. !Facebook provides a good tour of its features on its Insights page. If you have any more questions, ask them on our website.


Chapter 3: Accounting and Finance!Having the proper accounting skills will help you keep track of the finances of your business. This section will teach you the basic Excel skills, help you understand how accounting works and the key terms used in spreadsheets, and ultimately help you make more informed business decisions using your data. You may even apply some of the skills you learn in this section.

Excel/Spreadsheets!Excel is a programme used to organise and manipulate data. It is part of a series of products released under Microsoft Office, which you have to purchase. However, as these products are expensive, you can also choose Open Office which provides you with similar basic functions if you don’t already have Microsoft Office. You can download Open Office on https://www.openoffice.org/download/index.html and click Download Apache OpenOffice 4.0.1. Follow the installation process to get access to the series of programmes (Figure 3.1).

!!Under Microsoft Office, you will choose Excel (Figure 3.2), and under Open Office, you will choose Spreadsheets (Figure 3.3) for this section. !!!! !


Figure 3.1

Look how OpenOffice advertises their Twitter

account! This is one way to increase your audience.


There are various ways in which you can learn to manipulate data on Excel/Spreadsheets. We have provided templates that include some of the basic data you may need to record the financial data of your business. You can download this from our website, www.creativecycle.enactuslse.co.uk. On our website, go to resources and under Supplementary Files, you should be able to find a Template that allows you to download the file. !Download and open the file Accounting Template. !It should look something like Figure 3.4:

!!That’s a lot of information! But don't be overwhelmed! !

Notice at the bottom of Figure 3.4 are small tabs called IS,BS, Sales, Purchases, Expenses and +. These are different sheets within this Excel file. You can switch between these tabs as you would switch between chapters of a book to find the section you are looking for. The + tab allows you to make more sheets. !!!


Figure 3.4

Definitions of the Sheets: IS,BS: this is the basic summary page of your entire business. The Income Statement includes data in the short term (within one year) whereas the Statement of Financial Position is data from the long term (over the past few years) Sales: your income from your products Purchases: things that you bought that will directly affect your business (raw materials, machines, etc.) Expenses: things that you bought that will indirectly affect your business (transport, catering fees if you have, etc.) !You can manually enter any data you have in the according cells. If you are unsure of what some terms are, refer to the glossary. Figure 3.5 shows an example of what a Sales page can look like.

!!The Magic of Excel/Spreadsheets!For the previous part, you will have noticed that all you had to do was key in the numbers in the cells, and that the total was calculated automatically for you. This section will explain the formulas you can learn to manipulate similar data. This section will use the examples on the Purchases sheet to exemplify the use of formulas for a case study of jeweller (Figure 3.6). See how they have listed 5 different purchases under Column A, the respective price per units under Column C, the respective quantities under Column E, and the total spent under total spent in Column G.


Figure 3.5

Figure 3.6

Multiplication The first formula you will come across comes under Column G. Click on any cell in Column G, and you will find a formula appear in the formula line fx (Figure 3.7).

!Figure 3.8 shows you a breakdown of the different things inside this formula. Formulas are signalled by entering an equals sign, =. This means that the cell will calculate a value instead of merely stating a value.

!It’s a simple multiplication formula, where the quantity (Column E) of an item is multiplied by its price per unit (Column C) are multiplied. In numbers, it would look like Figure 3.9. The answer is then represented in the cell in which the formula is written (G3 has 12, because 4 x 3 = 12). !!Column G, or Total Spent, therefore calculates how much you have spent on an item of the same row in column A. In this case, the jeweller spent £12 on buying beads. !You will find that this formula is inserted in every cell of Column G, except for the bottom, black-outlined cell. That will show the next formula we’ll break down. !


Figure 3.7

Figure 3.8

Figure 3.9

Sums In Figure 3.10, cell G12 is highlighted. In the formula bar, you can see a new formula, different from the previous. This formula calculates the total money spent by finding the sum of all the prices for each item you calculated. The sum is £89.50.

!!The new formula is fx=SUM(G3:G11). Figure 3.11 shows a breakdown of this new value.

!You have basically calculated G3+G4+G5… until G11. !The “:” symbol is used mostly when you are finding the sum of values in cells that are either in the same row or same column. For example, other ways in which the sum formula can be used are:

!You will find that a similar equation was used in cell E12 to calculate the total quantity of items purchased.

Example Explanationfx=SUM(C3:C7) This calculates the sum of the cells in column C, from rows 3 through 7.

The simplified formula would look like C3+C4+C5+C6+C7

fx=SUM(A4:D4) This calculates the sum of the cells in row 4, from columns A through D. The simplified formula would look like A4+B4+C4+D4.


Figure 3.10

Figure 3.11

Glossary!Here are the list of words used in the templates available online and their definitions. !

!!

Words DefinitionsAssets Anything of value that you own

Bank overdraft When the cash at bank is negative

Capital Amount invested in the business

Cost of transport IN Cost of transporting the purchases

Closing inventory Value of goods, supplies and materials held at end of year

Creditor Purchases that we have not paid for yet

Current assets Assets that can be converted easily into cash.

Current liabilities Liabilities that have to be paid back in the near future

Debtor Money owed by customers

Discounts received Discounts given by suppliers

Expenses Costs not directly related to the production of goods

Fixed assets Assets that cannot easily be sold for cash

Gross Profit Sales minus cost of goods sold

Interest Fee Cost of having a loan

Liabilities Anything that you owe to someone else

Miscellaneous Income Any form of unexpected income

Net Profit Gross profit add income minus expenses minus taxes

Non-Current Liabilities Liabilities that do not need to be settled in the near future

Purchases Amount paid for supplies and materials this year

Opening Inventory Value of goods, supplies and materials held at the beginning of the year

Sales Income received from sale of goods


Online Security and Privacy!

What are the Common Risks?!Although we would like to think the internet is a safe place, without taking the right precautions, we may be at risk of privacy and security issues. This guide does not guarantee your internet safety, though it provides a starting point for things to remember.

- Remember, what you post online stays online: anything you post remains in the public domain and accessible indefinitely. In other words, online footprints are permanent. Even if you subsequently delete a post, it may have been cached (hidden away) in a search engine, an internet archive, or in a company server.

- Any communication on platforms (Ebay, Facebook, Twitter, etc.) could be exploited by spammers including links to websites they are promoting, cyber-criminals including links to fraudulent websites, or people using abusive or threatening language. These comments are sometimes programmed by robots as well, so if it doesn’t sound entirely human, ignore it or delete it! These bots can follow you on Twitter or request to be your friend on Facebook.

- You may get phishing e-mails or messages on Facebook which may appear to be from an auction or online payment sites, but are actually from criminals trying to lure you to a fake website to get your personal information (such as login details for you online payment account - PayPal or your bank details). If you are feel unsafe about anything, seek a second opinion!

Tips on Keeping Safe Online !Aside from purchasing security software, you can also protect yourself! It is likely that anti-virus software won't be able to protect all your actions online, so here are a few easy tips that you can take to improve your own safety and privacy. !- If you want your sites to be public, make sure you acquaint

yourself with the privacy policies of that website. Disclose only what you want everyone on the the Internet to know. Be careful about what private feelings you share, and which tone of voice you use. Do not post anything that may cause you embarrassment or trouble at a later date.

- Do not post confidential information that might be used to steal your identity, such as credit card numbers, passport details, or home addresses. Avoid sharing or posting any private contact information such as your personal email


address or personal phone numbers on any public platforms. Various websites might ask you for these details, but try to be as secretive with your personal information as possible!

- Beware of posting photos which may be revealing personal information about you that you would rather keep safe. (For example: is your business card with your address details accidentally photographed in the back of your product photos?)

- Periodically review who has access to your site, what information is available to the public, and make changes if necessary.

- Consider using an alias (false name) if you wish to keep your identity secret for personal safety.

- Be cautious about meeting in person someone you only know online. Just like you can provide fake information, so can everyone else!

- When making a payment to an individual, never transfer the money directly into their bank account, but use a secure payment site such as PayPal, where money is transferred between two electronic accounts.

- Always log out of sites into which you have logged in or registered details (especially if you are using public computers in internet cafes or libraries). Simply closing your browser is not enough to ensure privacy.

- Check credit card and bank statements carefully after online deals to ensure that the correct amount has been debited, and also that no fraud has taken place as a result of the transaction. !!

(Cr: GetSafeOnline)

Useful Links!Below are some useful websites that provide help and advice, teaching you how you can protect yourself and your family from security risks online. - Get Safe Online: https://www.getsafeonline.org/ - Google Safety Centre: https://www.google.co.uk/safetycenter/everyone/start/ - BBC WebWise: http://www.bbc.co.uk/webwise/topics/safety-and-privacy/ - Facebook Safety Centre: https://www.facebook.com/help/safety - Twitter Safety Blog: http://support.twitter.com/articles/76036-safety-keeping-your-

account-secure - Ebay Safety Centre: http://pages.ebay.co.uk/safetycentre/ - Etsy Trust & Safety: http://www.etsy.com/trust - ThinkUKnow: https://www.thinkuknow.co.uk/ - Childnet International: http://www.childnet.com/ !!!!


My Notes!Feel free to include any notes here! !________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
