Tag: startup tips

Doing business like a pro!

We all have some dreams we would like to come true. Some dream big, others small; but what truly matters is how you plan on achieving what you want. So you dream of owning your own business? Running it successfully? Believe in yourself, after all big corporate giants like Google, Apple, Sony also started somewhere. Well here are some small business tips for all the budding entrepreneurs to keep in mind.

5 tips of the wise:

  • You don’t necessarily have to start your business from scratch. If you find a small business that you believe you can benefit from, buy it. You can either grow it or sell it for an even bigger return.
  • Do you have a lot of dough to start with? Good! Hold on to it. There is no need for a young business to have a very lavish office and setup. Buy and spend very wisely. Old office furniture can be just as useful and serve the purpose. You can save all your extra cash for a rainy day. Just because you have it doesn’t mean you should blow it
  • Who are you? And what can you offer? A good business always has a sense of direction. Make a game plan, set goals and go about how you are going to achieve them. Keep in mind who you are exactly targeting
  • What makes you so different? Think about what makes you standout in the crowd. Always go the extra mile for customer satisfaction. This will never fail you. After all happy customers are loyal customers
  • Most importantly, exercise gratitude. Towards your employees, your customers, and your own self. Research in the field of human resource management shows that appreciation goes a long way to ensure success. It is a tool not frequently used by employers.

The toughest is the battle within:

As much as capital and resources are needed to start your own venture, some things come easily and without any cost. A bit of planning and smart thinking can make your journey of success a whole lot smoother. Though the road leading you towards your goals may not always be easy to tread upon, a positive outlook and determination can always ease your burden.

No matter what line of business you pursue, always believe that you have something unique to give to the world. It is only when you find out everything good has already been done, you push yourself to create something even better.

And one more thing:

As quoted by Steve Jobs, “Innovation distinguishes between a leader and a follower”. Knowledge is truly Power and today’s world is the most volatile it has ever been. Always keep educating yourself, learn, explore. There is no limit to the knowledge one can attain. There is always innovation in the world around us. New marketing techniques, management studies, growth opportunity factors; if one stays aloof to changing times he will be left behind. So always nurture your talents and keep polishing them in order to shine.

About the Author: The author is currently pursuing a degree in business administration and has a penchant for writing about modern day management techniques w.r.t. your credit card and organizational behavior.

5 Steps To Set Up Your Own Business in Australia

After much planning, you have made the decision to move Down Under. You want to set up your own business in Australia to allow you to take advantage of all what Australia has to offer including sun, sea and surf. Here are 5 steps to help set up your business in Australia.

1. TFN

This is your Tax File Number, which is the same as a National Insurance Number in the UK or a Social Security Number in the US. Everyone needs a TFN which is issued by the Australian Taxation Office (ATO) before they are able to work. It shows they have the legal right to work in Australia and are paying taxes. Everyone has a different TFN and it stays with you your whole working life so that the Government can identify your tax records. If you do not have a TFN, you will be paying emergency tax which is 46.5%.

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Image: marc falardeau / Flickr

2. ABN

Every person that is self employed and is running a business, has an ABN (although it is not compulsory). You will need to use your ABN when dealing with other businesses, (when doing work for them), when filing your tax returns, if you are registered for GST (goods sales tax). Once you have your TFN you can then apply for your ABN, which can take up to 4 weeks. The ABN will be used when you file your tax returns at the end of the financial year, which runs July to July.

3. Contact An Accountant

It is important to get in touch with an accountant at the earliest possibility. This will help you to sort out your tax before you start bringing in a lot of business. The last thing you want to doing before the end of the tax year is finding out you have not been paying enough tax. The amount of tax you pay is dependent on your earnings and whether you are classified as an Australian resident. If you have to buy products for your company and travel costs, you can claim these as an expense.

4. Set Up Your Website

As you have just come into a new market, you will need to do a lot of advertising to promote yourself and be seen in Australia. The best way to do this is to set up your own website. If you already have one, then you will need to amend the details to include your new location. If you do not yet have a site, there are many companies in Australia that offer affordable web design solutions.

5. Print Your Business Cards

Once you have your website, you will need to ensure you have some business cards printed with your website address, new Australian mobile and landline number (should you have one).

About the Author: The article is written by Jo Turnbull. There are many printing services in Australia. Visit your local printing company to see what’s on offer.

Launching Your Own Digital Start-Up

Digital businesses are the buzzword today. These are not brick-and-mortar businesses; in fact, these are computers and Internet entities. The creation of a digital business is not very difficult, and requires far less money than a land-based or traditional business. However, like everything new, it requires careful planning and preparation.

Good Idea

Begin with a good idea, and then expand upon it. There should be clarity on what the business is all about, what is it going to sell or do, and what are the aims and goals of the business. The conceptual process is probably the most important part of any business; since, it lays the groundwork for all that shall come later.

Domain Name

Register a domain name which represents the name of the business. It should be easy to remember and easy to access. Registration of a domain name also gives email ID’s and, in some cases, websites are also part of the package. As in a traditional start-up business, the name should reflect the aim or purpose of the company.

digital business tips

Website

The most important aspect of a digital business is its website. It is the face and the office of the company and it is the first point of contact for the clients. An error-free and well-designed website is the biggest asset a digital business can have. It is equivalent to having the best manufacturing facility a company can afford. Navigation through the website should be easy, the content should be clear and crisp, and all contact information should be clearly marked. The images should reflect exactly what the company is selling, or offering to the clients. In a traditional start-up, the office or factory is the productive space; and in a digital start-up, the computer replaces the factory or the office. A digital start-up is not limited by the location; it can be conducted from anywhere defying geographical boundaries.

Financial Software

The second most important part of a digital start-up firm is the quality of the financial software being used. All transactions should be securely routed, and the client should be able to make payments easily with a single click of the mouse. Credit card processors and payment platforms should be an inherent part of the financial software. This should be arranged much before the first sale goes through. Any glitches can lead to the loss of good customers, and also monetary losses.

Communication Strategy

Keeping in touch with customers has now become very easy due to the various online platforms. Social media, email newsletters, and websites – all these have made the world move closer, but it has also enhanced the need for excellent communication strategies. Attention spans have become shorter; hence, information needs to be condensed into fewer words and presented in a crisp manner. There has to be quick interaction with the clients, the response times need to be much shorter than they would be for traditional businesses and since there is no personal interaction, the written words should be satisfactory.

About the Author: This article is written by James Bentham.

Image: renjith krishnan