11 great tips for start-ups you company or business: Develop the correct structure
11 great tips for start-ups.
Getting your business plan and strategies in place is something that most of the owners, the sound, but not really.However, it is important to know at least its competitors, your marketing plan, its operation, and financial and administrative strategies. What is more important, is the way in which it will retain control of your business.
Experts agree that there is a direct correlation between those who put their plan in writing and those who create a good performance.
Often, a business collapse is partly due to the lack of concentration and a deficiency in basic business management. Most of the companies that come out of the company in Australia, the lack of a business plan. What are you waiting for? Follow these basic principles to become Business-ready:
Ideas and inspirations are ideal for a startup. Now, here is the rest.
1. Sit on a good business name
- think of what they represent and the perception that you need to communicate with your audience.
- is not only a good marketing tool but a point of difference. Nudie Boost Juice and served well to their owners in the initial phase of marketing.
- will have to search your name both online and offline and record the name and trademarks.
- you may need greater protection of your brand for advice.
- the logo design must be consistent with the name and marketing campaign.
2. Develop the correct structure -
if you have started a micro-enterprise, which involves you as a single operator operating under a number ABN (see www.ato.gov.au for your checklists) because you are a small amount of billing, you will want to know the following:1 do I have to be registered for GST?
2 how much money do I need to put aside for the first year?
3 what do I have to pay me?
4 how can I finance the expansion?
If your starting point of a family business and there will be two or more employees and some guaranteed cash flow through sales, then you might consider the possibility of establishing a structure of the company.
The structuring of its tax in terms of the business entity (trust, ABN or the structure of the company) can also help to increase the profitability of a company generally pays 30% of the taxable income while the individual can pay up to 46.5%.
Normally, the questions may include:
1 how are wages
2 how much tax will be paid and we must register for GST
3 how can we finance growth
4 our roles- Definition of the lines of responsibility and descriptions
Configuration or out parameters in conflicts and setbacks of communication
5 manage the change, such as the technology, car
See the family business of Australia ( www.familybusinessaustralia.com.au ) for more ideas and resources.
3. Upload your sales and marketing
1 not shy away from business development - create a list of objectives, a useful description of your business, and then get closer to old friends and clients, network and join the public-sector agencies. Spread the word- keep doing some citations for a coffee and chat.
2 spend money where it matters - outsource your brand, website, and design unless this is one of the main skills.
3 consider what you need to do your marketing plan. For example, consider the purpose of your website, and how you are going to update (preferably, ensuring that you can make changes to content yourself).
4 word of mouth is very powerful in the creation of a reputation so don't underestimate the power of consumer defense
5 measure their candidates, conversion rates, and the level of satisfaction.
4. Assemble the right equipment
1 you need a team of external experts, such as an accountant and a lawyer who understands your field of work, we will ask friends for recommendations.
2 if you are thinking about recruiting, developing HR policies from the beginning, which covers the role of that person, his probationary period, provides for measures of performance, benefits and working conditions.
3 check with the Labor Authority on the new 'Modern' awards. Changes in overtime, vacations, and charge termination will impact your business to do your research.
4 Occupational Health and Safety policies will vary according to its sector; ensure that covers the requirements.
5. Manage its risks.
1. what you don't know will do you harm. Management of risks in your business involves understanding your environment, planning and taking the protection through insurance, and the law.
2. Worker 's compensation in compulsory and policies tend to cost the same among insurers available.
3. tenants are often vulnerable to the owner of disputes; this is the number one issue in Victoria with the Ombudsman of small companies to look at how to handle disputes and negotiate the offer more adequate.
4. it is necessary to have some basic notions of contracts for suppliers, customers, partners, and new recruitment of staff (especially now that the laws will change). Invest in getting it right.
The rules governing fair trade or on how to deal with pricing policies and competitors - see www.accc.gov.au fair trade and the laws in your state.
6. Consider your working capital
1. you cannot start a business without money, therefore, to create a budget, and work your financial needs during three months, six months to a year. Consider your own vital needs.
2. write your business plan and make sure to maintain good financial records, know their points of reference for the financial industry and maintain a line of communication with your banker once you have configured accounts. What do you want a potential lender to say about your business?
7. Plan to avoid common mistakes
Some of the key financial mistakes entrepreneurs often do and can be corrected easily are:
1. not to develop a financial plan and a realistic business
2. spend a lot of money in initial setup and in the inventory
3. do not seek the advice of expert professionals (lawyers and accountants) in critical actions (for example, debt financing) and do not seek appropriate advice (for example, searching on the legal entry of a franchise agreement of a non-specialist)
4. not enough charge to your products or services - many start-ups under the value of your offer and, as a result, earn less money.
5. not be financially literate or business. Get reading and link to resources in the department of small business in your state (for example, Small Businesses of NSW in September www.smallbiz.gov.au) and the Corporation for the development of the State. See also www.smallexcellence.com.au and www.ebusiness.com.au
6. not know their motivations malls eg what they charge for their contributions or prices; the nature of its base of clients and potential clients; its average sales in dollars or canon; frequency of the cables or visits to clients, and how its fixed and variable costs are administered.
7. you yourself can pay? (And with a view to retirement)
8. Cash Flow Control
1. keep an eye on the days of debt and maintain a follow-up.2. prepare forecasts of regular cash flow
3. keep their cash positions and not excessively discount
4. reward staff, but link it to the registration receipts and payments instead of the promised
5. use your advantage in terms of exchange; it is not a bank to its suppliers through the first payments
6. maintain their personal benefits and drawings to a minimum
Your bank or keep in the loop, and maintain records
9. Keep an eye on taxes
1. you must register for GST if your volume is more than $75.000 or threshold that driving a taxi or limousine service. You will also be asked by the ATO if you want to record in a database of accrued cash or
2. if you have a small business of less than $2 million euros, preferably should nominate GST for a cash basis. You can claim GST credits back against their own taxes.
3. depreciation of plant and equipment includes anything with a life of more than one year, and this allows you to claim a portion of the costs of the asset over a number of years. Computers, fax machines, photocopiers and your desk, and examples.
4. small businesses and general business tax holiday premium to the investment of enterprises means that earn less than $2 million in revenue have the right to claim the 50% of the cost of assets acquired between December13 2008 and 31 December 2009, and installed a ready for the 31 December 2010.
5. if you have any doubts about the fiscal situation of their costs, consult with your accountant, especially where there is a crossover in the business and personal use.
10. Documentese
1. you may be blinded by their business ideas! Develop methods to investigate the perceptions of their customers and the market, especially the level of satisfaction. See www.knowyourtribe.com.au for ideas and free resources11. Stay resistant
1. perseverance is almost as important as other skills; to seek support from like-minded friends and family. Keep your narrow vision to sustain itself.
