The first year of a new business is critical, with repeated evidence that around one third of businesses fail during this phase. However, equipped with the right knowledge and education, you can get off to a strong start. Whilst the focal point for the early months should ideally be on rapid income generation, new business […]
Four years ago, Sydney’s Frank Andrews began to transition away from a nearly 20-year career in the banking sector, where he was earning a six-figure sum, to pursue his passion for coffee roasting as a legitimate business. With limited hospitality experience, he faced an uphill battle – especially considering the fiercely competitive nature of the local café […]
By the time you have read the title of this article there is a 50/50 chance that you have got something else on your mind as well. In 2010, Harvard psychologists carried out a study that tracked people’s activities, their thoughts and their feelings at random intervals. They found that just under 50% of the […]
A new year inevitably leads to new business goals but what many SME owners don’t realise is that these goals could trigger compulsive behaviours and actually stunt a company’s growth. There are only two types of goals business owners make – objective and subjective – the latter will negatively impact profits and workplace culture. Subjective […]
Yes, you read that right. It’s time to ditch that 30-page document and put it in the bin where it belongs. Professionals agree that writing a formal business plan is not the best strategy, most especially for SMEs that have limited time and resources. Not having a business plan doesn’t mean you’re going to spend […]
Entrepreneurs start businesses to solve problems facing customers or to improve the way customer needs are satisfied. In the event that on-hand funding is insufficient to fully realise the potential of their proposed business, an entrepreneur will need to seek assistance from investors. Finding the right financial partner can be challenging. There are key things you should ask to […]
Ideas and execution go hand in hand. There is no greater importance placed on either aspect of starting and running a successful business. Without one another, a business cannot wish to exist and succeed. Ideas and plans exist together. Once you’ve established a grand idea, it’s time to put that into a master plan and […]
Are you all set to convert your dreams into reality? Establishing your own business and becoming your own boss can be really overwhelming, but it also requires loads of discipline and dedication. Here are a few tips for getting you started in the proper direction: Developing an elaborate plan Creating an elaborate business plan can […]
You’re tired of the daily grind. It’s time for something different. E-commerce seems like the right move. It’s easy to get set up, and it’s a proven business model. Here’s how to get started. How To Find A Good Market It all starts with product research. Actually, it starts with market research. If you don’t […]
An action plan could save thousands of small businesses from going bust but as many as eighty percent don’t take the time to make one despite its proven success. I’m not talking about a five-year plan with detailed budget forecasts, but an annual action plan that is reviewed regularly and updated quarterly. I’ve seen first […]
