More and more Australians are turning to self-employment and it has never been easier to set up a small business; the entire process can be handled online, which is nothing short of amazing. In this short article, we offer a few tips and suggestions to assist you in the process of creating a small business.
- Write a comprehensive business plan – Whether you’re going to start a coffee shop or an e-commerce operation, you need to write a comprehensive plan that details every aspect of the operation. A typical business plan would be 15-30 pages in length and would include an overview of the business, a section on marketing, details of start-up and running costs, a list of business assets, and a flowchart to show the various responsibilities of all stakeholders. Once you feel the plan is complete, ask a business coach to take a lot and he or she will find any issues, if they exist.
- Image is everything – Successful entrepreneurs wear bespoke business suits that are tailor-made by skilled tailors when attending a business meeting, which projects the right image. If you engage the services of a virtual office provider, you can have a registered business address in Sydney CBD, which sends out the right message. People like doing business with winning organizations and you can use a virtual receptionist service to handle all incoming calls. The qualified receptionist is located at a call center and is fully briefed on all client operations, so the caller will think she is your full-time receptionist in your plush offices in the CBD part of the city.
- Registering the enterprise – The Australian federal government has made it quite straightforward to register a small business. When on the government website, you will discover what the requirements are and what documentation you will need to complete the application process. Don’t make the mistake of thinking you can register the business later, as this would mean you are operating illegally. Click here to find out the many benefits of hiring remote employees.
- Be realistic – If you approach things wearing rose-colored glasses, you won’t be doing yourself any favors; you can’t simply assume that you will hit your sales targets, rather you need to show exactly how these figures can be achieved. In many ways, playing devil’s advocate is the best way forward, as this will prepare you for the worst by exploring all options. Could you cope if the first 3 months saw no sales? You should have a slush fund for any unexpected costs, which could occur at any time.
- Minimise risk – As the business owner, it is your responsibility to minimise risks to the venture and this means taking out the right insurance policies. One such policy is general liability, which covers the business in the event a claim is made for compensation, then you need to insure company assets, commercial vehicles, stock, and your business premises.
Start by visiting the government website for business registration and check out the many resources to assist you. Your business plan is your guideline to success and with made-to-measure business attire, you will always look the part.
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