Brand collaborations to boost your business

When we need a job done or have to ask someone for help, the most common response is “I know a guy!’’ Growing your business through word of mouth is the Australian way. However, times are changing. With more and more businesses investing in digital advertising and brand collaborations, it can be hard for people to notice your brand. Whether you’re a new business or have been in the game for a while, if you are wanting to reach a [...]

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Small business culture

On average, we spend 90,000 hours at work in our lifetime. So, as a business owner, making sure your workplace has a positive culture, is the best thing you can do for your company. Culture, as defined by the Cambridge Dictionary is “the way of life, especially the general customs and beliefs, of a particular group of people at a particular time”.  So, what makes the culture in a workplace positive?   Atmosphere  Culture in the workplace can make or break an organisation. Without a positive culture, employees will struggle to find value in their work. In turn, this can lead to low productivity, stress, and poor morale, which will [...]

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Business Planning: Marketing and Sales

The marketing and sales section of your business plan should cover the basics; your target market and competition, defining your product messaging, pricing, and other marketing strategies to maximise sales. Marketing is not just advertising; marketing is an investment in the growth of your business. Like any other investment, money spent on marketing must generate a return. With that in mind, the aim of the Marketing and Sales chapter of your business plan is to answer the question “How will [...]

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Business Planning: Finance

Over the past few weeks, we have been covering the different sections needed for a successful business plan; goals and objectives, your competition, the executive summary and now, finances. Starting a business is a huge investment for yourself, for investors, partners and for banks. Preparing a financial plan for your business is not only going to show you the costs involved, it will also provide you with an insight to how your business will profit in the future. What you should [...]

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Business Planning: Your Competition

Analysing your competition is a key component when writing your business plan. Understanding both your current and potential competitors is critical to ensure your business survives and grows. In this chapter of Business Planning you will learn the key aspects of conducting a competitor analysis. An analysis can be a time-consuming exercise, to make the process easier start with the current businesses you will directly compete with. For example, if you plan on opening a local bakery you should investigate [...]

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Business Planning: Goals and Objectives

Goals and objectives steer a new business in the right direction and help to keep an existing business on the right track. Think about it, you need a final destination before you can land a plane. Including your business goals and objectives in your business plan is giving the reader confidence in you and the future of the company. In this section of ‘Business Planning,’  we will cover how to set your business goals and objectives. To start, you need [...]

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Collaboration tools for small businesses

5 collaboration tools small businesses should know about

Collaboration is key to achieving sustainable growth and longevity for many businesses. Connecting with co-workers is easier than ever thanks to modern collaboration tools for small businesses. Who would have thought you could communicate with your team through a video call, group chat and share documents all at once with the click of a button. The best part? You don’t have to be in the same room or even country. There are hundreds of options in the market today, so [...]

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Business Planning: Executive Summary

The purpose of an executive summary is to outline the company’s purpose and goals. It needs to clearly define each section of your plan so the reader is prepared for the upcoming content. Your summary is considered as the most important part of your business plan, it sets it up for success. Even though your summary is generally at the start of your business plan, it is often written last. Think of it as the trailer for a new Hollywood [...]

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Out with AUSkey, in with myGovID

Australian business owners have been using AUSkey for the past 10 years to access government business services. At the end of March 2020, myGovId and the Relationship Authorisation Management (RAM) system will replace AUSkey and be the only way business owners can access online government services. With the replacement of AUSkey a host of online government services will not be accessible without a myGovId or RAM. These include: ATO: single touch payroll and lodging tax returns Australian Business Register: updating the business [...]

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Why business plans are the recipe for success

A business plan is the recipe you are going to follow to construct and develop your business. Have you ever baked a cake without checking what ingredients are needed or finding out the correct measurements? If you have, the chances are it didn’t turn out as you’d expect. Running a business is much like baking a cake, without following the recipe your business can end up crumbling. Companies that write and review their business plan regularly grow 30% faster  than [...]

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