It’s important to keep your equipment up to date and ensure it matches your business needs. Can’t buy your tolls or equipment outright yet? Consider hiring it out or looking for second-hand equipment until you can.
Coming up with a good marketing strategy to get the word out there about your business is the key to growth. This can be through word of mouth, leveraging your social media platforms or looking into paid advertising.
Keep up to date within your current industry by attending industry related events, training sessions, conferences etc. Get to know and build a rapport with other business owners or suppliers who may be able to refer you along to their clients or call you up themselves to get a job done.
If you’re going into business, we suggest putting 20% aside (as a minimum) to cover your tax. And don’t forget to put aside any GST if you’re charging it. After your first year the ATO will ask you to pay your tax every quarter. Everyone’s income and tax rates are different so plan ahead.
What does a business plan do for you or your business?
Business plans provides clarity and direction. Business is more about thinking than execution. Execution is a consequence of thought. Without the thinking process your business could find itself meandering along a winding path into nowhere.
At any level, business is a resource allocation issue. That is, where and how do I apply my resour
For peace of mind, think about Personal Insurance & Public Liability Insurance. Earning an income is your most important asset so it makes sense to insure it. Who will pay your bills if you get sick or injured and can’t work!