Setting up your own startup business can be as daunting as it is exciting. With so many things to look into from a financial, operational, compliance and governance perspective, you want to make sure that you have done your homework right.
You can save yourself significant time and valuable capital by making yourself well-versed with what it is exactly that goes into running a business. Not just any startup business, but one that is specific to the industry you intend to venture into.
Taking out Time for Proper Planning
Making sufficient time to plan your startup can help you convert your vision into reality. Running a small business is more than just about being your own boss or having the flexibility of working from home. You need to self-develop or bring in the right management talent, industry expertise, technical skills, financial proficiency and the long-term vision for sustainability and growth.
Before you take the leap, it is important to understand whether you are really cut out to run your own business and live the self-employed life. Ask yourself the following questions –
- How do I go about choosing a name for my business?
- What skills do I require to get the business started?
- What are the goals and objectives of my business?
- How much income will I need to generate to break even soon?
- Is this really a business or just a hobby?
- What are the benefits and disadvantages of starting my own business?
- How should I work on a business/ marketing plan?
Getting your Business Started
You needn’t hire someone to get your business registered. It is a lot easier than you can image. All you need to do is log on to the internet and pursue the following steps –
- Choose your business structure and type
- Apply for an Australian Business Number (ABN)
- Register the name of your website
- Register for appropriate taxes
- Apply and register for the right licenses to start your business
- Register for an Australian business account that helps you manage your permits and licenses
- Buy or lease out your business premises
- Get insured
- Continue learning about selling your products and/or services
Hiring People for your New Business
Finding the right talent for your start-up can be a tedious process. However, before you start writing pay-checks make sure that you have clearly understood the government requirements that may be relevant to you as an employer. Take into account factors such as minimum wage rates, super and leave entitlements among other things when making hiring decisions.
If you need professional help for your new startup to understand the nitty-gritty’s of running your own business in Australia, you will be able to get in touch with a number of low cost advisory services for help. In addition to this, also look out for mentoring services in your area, sign up for entrepreneurship workshops and events and read up articles online that can give you a sense of direction. You could also get in touch with us and avail our business expertise that helps you get an organized start to your dream set-up.
Click Here for information on Business Australia website
He lives in Frankston and travels to St Kilda road just to distribute the flyers for other businesses.
Two weeks ago he dropped a flyer in our office that’s how I met him. It triggered a thought in my head well if he can distribute for others why not for my business. Me and my friend (Gurpreet) gave me two lots to distribute. We did had some queries and conversions as well (that’s not the point here).
It doesn’t hurt if we ask for it we may not get anything but at least we tried.
I don’t think I need to introduce myself (well this is not about me).
Guy is not waiting for opportunities to come to his door he is getting out and trying his best. He is senior citizen and still getting out doing his bit.
Do you think if he got his website it will bring bit more work for him?
People out there may need his service?
Price: $55 per 1000 flyers. Not registered for GST
He distributes the flyer along St Kilda road and inner CBD. Might not mind distributing in other suburbs as long as its within his reach.
Well we people in IT think that we can solve world problem by creating an app (just kidding). I don’t want to charge anything from this guy.
After thinking for a little while we (myself and Russell) decided to give it a shot to build website for him.
Step 1) Sort out branding for him…