Drive: The surprising truth about what motivates us

This video sheds some light on what motivates us to do things, excellent stuff!

Interesting Collaboration/Project Management Tools

ActiveCollab – Used to be a clone of Basecamp, now self-hosted, not free.

Basecamp – Probably the most popular tool, remotely hosted and not free.

Comindwork – Has both self-hosted and hosted versions.

Feng Onsite – Self hosted and free. Many features.

Taskfreak – Free and Open source, basic features only.

At the moment the leaders are ActiveCollab and Basecamp. If you don’t like paying monthly fees then the choice would fall on ActiveCollab.

Micro Invest Tax Incentive Scheme in Malta

Malta Enterprise offers several incentive schemes for businesses in Malta. The Micro Invest scheme is for sole-traders and other small businesses.

This scheme supports micro enterprises and the self-employed that invest in their business, innovate, expand, implement compliance directives and/or develop their operations. Micro enterprises and self-employed will be supported through a tax credit representing a percentage of the eligible expenditure and wages of newly recruited employees and/or apprentices.

MicroInvest covers investments undertaken between 1st January 2010 and 31st December 2011. The following are eligible expenses for this incentive:

• Furbishing and upgrading of business premises for improved operations;
• Machinery or technologies to improve operations;
• Machinery or technologies which save or generate energy;
• Investments which enable compliance with regulations, including Health & Safety, Environment Directives and Physical Access;
• Cost of one commercial vehicle as long as such vehicle is involved in the transport of goods as specified in the guidelines;
• Wage Costs for new jobs created and/or apprenticeships taken, as long as these constitute a net increase in the total number of employees as of the 10th November 2009.

Malta Enterprise may approve a tax credit equivalent to 40% of eligible expenditure.

Costs must be incurred and paid for between 1st January 2010 and 31st December 2011.

Eligible expenses include:

(a) Investment in furbishing, refurbishing and upgrading of business premises including extensions or modifications to premises;

(b) investment in acquiring machinery, technology, apparatus or instruments which enhance the operations, including systems which help to save energy or to produce alternative energy;

(c) investment required to become compliant with regulations including Health & Safety, Environmental directives and Physical access.

(d) Investment in one motor vehicle as long as such vehicle is involved in the carrying of goods (category N1, N2 or N3 motor vehicle), Tractors (category D) and Special Purpose Motor Vehicles (category E) as established in the Motor Vehicle Registration and Licensing Act (Cap. 368).3

(e) Wages costs covering a 12 month period pertaining to new jobs and apprenticeships created as from 10th November 2009 as long as this constitutes a net increase in the total number of employees of the applicant.

The maximum tax credit per enterprise shall be capped at €25,000 for the duration of this incentive.

The tax credit must be utilised by year of assessment 2014.

Applications should be made to Malta Enterprise once a year after the costs have been incurred.

This incentive runs for two years commencing on 1st January 2010.

Applications for assistance under this incentive will be received until the 31st March 2012

Planning Your Website

You’ve decided to create a Web site, excellent, you’ve done the right thing! Next up is thinking about what kind of Web site you are going to need. Just like everything else, in order to create the best possible web presence for yourself or your business you need to ask yourself a couple of questions. Let’s take a look at some of the things you should be thinking about.

1. Deciding what you want to say

One of the most crucial concerns you want to tackle is that of stating as clearly as possible the purpose of the Web site in one sentence. You need to be as specific as possible here, something like “Creating the best looking website in the country” is not going to cut it. Focus on the real purpose of your Web site. Some excellent examples:

• To advertise music lessons offered by a collective of piano teachers in Malta
• To chronicle my trip to India working with orphan children
• To provide a showcase of all the products and services our company offers

That gives you a starting point that will lead you in the right direction for tackling the next question.

2. Targeting your audience

Defining the site’s intended audience is another determining factor in planning your Web site successfully. A site’s visual style and functionality is considerably influenced by its expected audience. When thinking about your audience, you should consider factors such as their age, experience in using the Web, sex, equipment they are using and educational background. Clearly a shopping site will have a more straightforwand and simple look and functionality compared with a technology magazine site, for example. While the shopping site has a very wide spectrum of potential users, a technology magazine website has a much narrower target audience and can probably afford to be more complex and snazzy.

3. Determining your resources

The final step is to thinkg about monetary, time and also bandwidth resources. Great websites don’t get done for free, and neither are they done in a day or two. The process of building a Web site does not only involve development resources but also the creation of materials and content, as well as ongoing maintenance.

It is also important to think about what bandwidth you can expect your users to have, if most of your users will probably have limited internet speeds it is probably not a good idea to include alot of bandwidth gobbling videos and animations, although they can be used sparingly where relevant.

Giving yourself the time to go through the ideas presented above will go a long way in ensuring that you start off your Web site venture on the right footing, with a clear idea of what the final Web site should work and how it will look like.

Advice for start ups and entrepreneurs

Here are a few lessons I’ve learnt along the way from my own experience and from experiences other entrepreneurs have shared with me. Hope you find them useful.

1. Take your time in choosing your company name, make sure it is understandable in multiple markets, and does not have negative meanings or connotations in other languages. Also work hard on creating a great looking logo that portrays the key features of your business.
2. Building a great looking website will also help you alot, preferably also include a blog which is great for attracting new visitors and engaging with your target market and peers.
3. Research and prepare contracts and questionnaires to use in the beginning stages of your relationships with clients. Although they might seem a nuisance, they help establish clear requirements and boundaries for the project. You will be thankful for doing them later on in the project. Having written agreements and spec documents are a God send when you or the client start to forget what had been said and promised earlier on.
4. Establish a clear work routine. Being your own boss gives you additional freedom but also more responsibility and a need for self-motivation and discipline. I have my working hours stuck to my wall and try to keep to them as much as possible. Avoid waking up late if possible. Somehow starting work early seems to provide some extra good vibe that will help you be more productive and satisfied at the end of the day.
5. Plan your day beforehand, set clear tasks and goals and if possible try to deal with one task at a time. It is hard to be efficient when you are thinking and worrying about 3 different jobs, as well as other distractions such as phone calls. A good idea is to take some time at the end of the day and prepare a work plan for the following day. This gives your mind the time to prepare and wake up the next day focused with clear objectives and the necessary motivation to get everything done.
6. Starting your own business brings on additional work and dedication, but it doesn’t mean you don’t have time for anything else. The important things in life are relationships and keeping yourself healthy, so make time for exercise, socialising (networking also gets new clients), and other hobbies. A good work-life balance will get you more motivated and satisfied with what you are doing.
7. Make plans. A business plan is recommended by many people, but even a simpler plan is enough to get going. It will help you focus your resources and help you make your goals clear and commit to achieving them.
8. Socialise and network, try to get to know as many people as possible, and not only from your line of work. Having a few friends in your direct line of work however is very useful as you can shoot them a quick mail/phonecall when you hit a tough problem, or need a second opinion on something.
9. Always carry around a set of professional business cards and hand them out generously, you never know who you might meet and where. Also keep in mind that although a person might not have a direct interest in your services, he might know someone who does and thus be able to recommend you.
10. Before meeting a prospective client, try to learn as much as possible about his business, his online presence and that of his online competitors. Try to anticipate what his concerns are, and try to think of a few ways he can improve his business (specifically online). Sharing these ideas during an initial meeting will naturally leave a very positive impression with the prospect. A developer who actually takes an interest in your business before he even gets the project definitely augurs well for a high level of service during the project itself.
11. Believe in yourself, and don’t let fear of things you don’t yet know hold you back from taking on challenging projects.