Business Advice

Best Business Advice for Small Businesses in Gold coast

Starting a business is one of the most exciting things you can do in your life. There is a lot of pride in being able to grow your own empire and control what you do. However, there are many small business that are not able to last for long because there are many challenges in running a business.

In order to overcome these challenges it is imperative that a business receives business advice Gold Coast. Here are some amazing small business advice tips that you can use to grow your business.

Plan for When You Have No Money

There are instances when your business might not make any money at all. It is important that you plan for instances like those when there will not be any money incoming to the business. Have some money stashed up somewhere for such days so that the business can have money to run.

Plan for More Costs

when starting out you need to plan for more money that you think you would need. It is recommended that you triple or quadruple the amount you have come up with.

For instance, if you come up with $1m as the money required for the business have at least $3m ready. This will help to keep you afloat when things get hard. It will also leave you with money for your personal expenses.

Follow Your Dreams

This business advice tip sounds cliché but it is very important. Most business fail because of lack of passion from the entrepreneur. When you start a business make sure it aligns with your dreams and follow them passionately.

When you engage in a business you are not passionate about small challenges are likely to make you quit.

Be Knowledgeable About Your Industry

Knowledge is important because it points you in the right direction in your industry. Learn all that you can about your business either from the internet, from agencies, books and business seminars. Knowledge when combined with passion for the business will propel your small business to great heights.

Avoid Debt As Much As Possible

This piece of business advice Gold Coast is important because it helps the business to make profits. A business that is in debt will not be seeing any profits until all the debt has been cleared. You can grow your business slowly to a big business without acquiring debts when you manage the finances well.

Do Not Do Everything Yourself

One of the biggest problems that small business owners make is trying to do everything on their own. You cannot be good in doing everything and therefore getting help by employing the right people will propel your business to great heights. You will be amazed at how much value other people can bring to your business.

Business advice Gold Coast is really important in helping a small business to grow and become an established business making money. A business will not only fail because of not making sales, but also when the money that is being made is not managed properly the business fails. Business advice Gold Coast will help you take care of your business professionally.

Hiring the Right Corporate Lawyer

Are you thinking about hiring the right corporate lawyer? Have you wondered how you can find someone who could help you with your basic business dealings? Keep in mind that the right corporate lawyer can help ease your burden and help you focus on growing your business. That is why it is extremely important that you hire a corporate lawyer who can work on the same wavelength as you do. Just make sure to keep the following things in mind when hiring corporate lawyers.

A corporate lawyer is hired often as a precautionary method

Keep in mind when you hire a corporate lawyer, it’s because you want to save your business from going through any sort of legal trouble. It doesn’t matter whether you have a small or a big firm, the right corporate lawyer would help your business grow without it facing any sort of hitch. Once you face legal issues then hiring a corporate lawyer won’t be of any great help. The major reason why you hire a lawyer is to avoid legal issues. So make sure you hire a lawyer as soon as you can.

Look for the right firm to handle your legal issues

A well reputed law firm compromises of individuals who specialise in corporate law. They have the necessary skill and experience to help business owners sort any kind of legal issues before its too late. A large firm may cost more and you might find yourself having to pay more than you expected but larger business often thrive well when they hire the right corporate law firm.

Small business owners should hire corporate lawyers who charge a fixed fee

If yours is a small business, you could do well with hiring a corporate lawyer who charges a fixed amount of fees. Most business complain that their lawyers’ fees often shoots up h then they expected. This is usually because their lawyers charge them an hourly fee. If budget is an issue or yours is a new start up, choose a lawyer who charges a fixed fee.

Experience is important

The person you hire to manage all your businesses legal affairs should have the right kind of experience. The better their experience, the greater are your chances of a more successful partnership with them. Have they dealt with businesses which are particularly like yours? This way they can see any problems way head of time. Help you with your tax issues as well. Legal jargon is often difficult to understand but the right lawyer can help make it easier for you.

Choose someone who is open and friendly

The top lawyers on the Gold Coast need to be a professional and dedicated people. They should be aware of what kind of business dealings you go through and they should help you avoid any legal difficulties while you conduct your business. They should help you understand legal issues with patience. This is because ay layperson can get confused when faced with legal jargon. A person with an amiable personality and a great attitude should be your first choice.

The Digital Marketing Era

Five  Digital Marketing Tips for perfect Targeting with Facebook Ads

Since the internet was created, people have spent more time on them rather than other things. This is the impact of technology to the lives of so many people. Although, it sounds a little bit negative, but in reality, technology has an advantage too.

One of the best examples for good form of technology is social media where people tend to interact with one another all over the world. This is the venue where they share and post their sentiments, their pictures, and so on. Moreover, Facebook is also the place where people can actually market their businesses. And so, here are the five digital marketing tips for perfect targeting with Facebook Ads. Ensure you hire a top Digital Agency to ensure you get results.

The first one is to choose the right campaign that is most suitable for your business. Facebook for business offers ten different campaigns to choose from and all you have to do is to choose the right one. In choosing the right campaign, you have to consider your audience and also the time that your audience will most likely see your campaign advertisement in Facebook.

Moreover, the second thing that you need to do is to target on the things that most audience like which can be connected with your business. Go for trending topics such as food, heart problems and advices, latest fashion trends, and celebrities and many more.

Third, if you have started out your ad already and there were some individuals who have converted the advertisement that you have posted, then you can always reach out to them. Surely, Facebook can contact a lot of people, over a million for this. With this, you can still gain more clients with this filter.

Fourth, you may want to target people who have a lot of money and of course those who have reached college or more. In most cases, these groups of people usually have better chances of purchasing your advertisements. All your posts will be accordingly matched to your possible audience.

Lastly, you can always target those people who are around your locality. You can set the Ads Manager to contact or to reach those people within the area. In this case, people who are near you will most likely go for your advertisement. Aside from that, people in your area will get to know your business even more compared before.

In summary, when it comes to online and digital marketing, Facebook is the leading social media application used by a lot of people. With this, people do not only communicate but at the same time this is a good place where people can advertise their business. In order to have this goal successfully met, you should know the right campaign to be used and of course you should know your audience well. The strategies mentioned above are effective ways on how to get your audience and how to effectively advertise in Facebook. Overall, it is important to test whether your campaign is effective or not. These strategies could be a good basis for improvement.

Choosing The Right Accountant

Choosing an accountant in Hervey Bay to help you with your new startup is one of the most important decisions you would make. That is why it is necessary to be armed with the right kind of questions to help you find a person who is perfect for the job.

A good accountant will not only help you save precious time but even give you the right kind of advice to help your business grow. The wrong one would only cost you loads of money and also make you fall into financial losses. So how do you go about finding the right person for the job?

Just make sure to keep the following things in mind when hiring an accountant

Would they add value to your business?

The first question you need to ask any accountant in Hervey Bay is why you should hire them for the job. They should be able to give you the right kind of financial advice which would help improve your business. They would ensure that your gain is theirs as well. They would treat your business just the way they would treat their own. Their aim should be to help your business grow and go places.

Before you make a final choice make sure you narrow down at least two or three candidates. Have meetings with all of them. This would help you decide if they are on the same wavelength as you. Do their goals pertain to yours?

Get to know their qualifications

It is important that the accountant you hire has the right kind of qualifications. They should also be registered with the proper accounting body. They should have professional indemnity insurance. In case of wrong advice and business losses you would be compensated.

As a startup you should be conscious of any financial gains or losses you would incur. Your accountant is just not responsible for balancing your books but they would also help you pay your taxes at the end of the year. Plus offer you valuable advice and find grants and commissions which would actually work in your favor in the long run.

Get to know if an accountant is willing to work for small businesses

Most business owners don’t have a good idea of what their requirements should be. Not all accountants are willing to work for start-ups. Make sure you choose someone who is a professional in helping small businesses grow financially over time. You can ask around from acquaintances or people in similar businesses whom they have hired to help manage their accounts. They should understand the nuances of small businesses. Not every business works the same way. It is therefore necessary to hire someone who has the right insight to make a small business grow over time.

Also it is necessary to know if your accountant has the same goals as you. Are they willing o put in extra effort? A little bit goes a long way. Finding the right person could actually help you achieve success earlier.

How to conduct a customer survey

Tips to take the pulse of your business customers

According to William Schatten, Vice President, Research and Analysis, for Toronto-based Forum Research Inc. , customer surveys help you get valuable information about what customers like or do not like. Whether you’re launching a new product or service, or wanting to assess customer satisfaction, Mr. Schatten tells us what to do or avoid to get the most out of your surveys.

1. Choose online surveys.

For small business owners, online questionnaires, unlike telephone surveys, in person or on paper, are the easiest and the most economical, says Schatten. “With a paper form, you could ask clients to complete the survey at your company, otherwise you have to send it by mail and ask for it back,” he adds. “Then you have to transfer the results to a computer, which results in costs. “

Easy-to-use and effective (and often free) online tools like SurveyGizmo , Checkbox or SurveyMonkey will help you design your survey and analyze the results yourself.

2. Formulate your questions carefully.

“Preparing a questionnaire requires science and art,” says Schatten, whose company employs a full team for questioning. “Science is about getting the right data for analysis. The art is to write the questions in a very precise way to make sure that you are not influencing anyone, that there is nothing confusing, and that the questions are not biased or ambivalent. Results from poorly formulated questions can mislead you into making bad decisions. “

Open-ended questions (requiring more than a “yes” or “no” answer) provide more detailed answers, while multiple-choice or ranked questions (eg, “on a scale 1-10”) Allows you to quickly obtain demographic or percentage information.

No matter the format, the poll must be short. “The longer it takes, the less people will want to answer it. Five minutes of their time is not an exaggerated demand, “says Schatten, who also warns about incentives that could affect the validity of responses. “Respondents can complete the survey only to get the incentive. “

Check out the results.

The clearer the purpose of your survey, the easier the analysis will be (eg, do customers like or hate your new product?). It is also important to react to the answers. Use these valuable insights to assess customer satisfaction, encourage customer loyalty and other visits, launch the right products and services, or even just stay open on Fridays.

Similarly, it is a good idea to follow up with respondents or another client survey after any changes or improvements have been implemented to confirm that you are on the right track.

How to do a market study

You have a good idea for a small business, but how do you know if there is a market for your product or service? Do research. In other words, data collection and analysis, profitability, placement and price of what you sell, demographics, competitor information, daily earnings expectations, and trends in your business. industry that can change everything, better or worse.

Some companies benefit more from a feasibility study than others, says Mark Eversfield, market research analyst for Small Business BC where he runs seminars and webinars on this topic. “It’s more important to do a market research for a restaurant than for a journalist working at home,” he says, referring to various levels of risk. Here are five strategies to consider before the official opening of your business.

Secondary school first

Mr. Eversfield explains that there are two types of market research: primary and secondary. He always starts with the secondary study because it allows him to learn more about the primary study. “The secondary market study, which includes reports and market research or statistics, tells you what’s happening with your target market, your competition and the trends in your industry,” he says. This information is collected by trade associations and your local Chamber of Commerce, as well as government agencies such as Statistics Canada , BC Stats , the Conference Board of Canada and the Canada Business Network .

Also, visit your public and academic libraries with a periodic index, a powerful search tool that allows you to search content rather than keyword searches.

The primary then

The primary market study is information coming directly from the source: your potential customers. Mr. Eversfield recommends starting on social media to gather informal feedback by sending messages to your friends and colleagues, then to polls and focus groups.

SurveyMonkey , a free cloud questionnaire tool, allows you to create a custom survey. Do not forget to ask short, direct and relevant questions. Focus groups are more complex because you have to gather a reasonable number of people. Submit a draw or discount on the merchandise if you decide to use this method.

Where are the buyers?

You can offer the best product or service in town, but what will you do if your potential customers are in the city next door? Market research will tell you. “Suppose you want to open a bike shop,” says Eversfield. Your research shows that the number of bike stores has been declining over the past five years or that they have moved to a key location [organizations such as the Canada Business Network keep a record of this data]. Look for something that you can exploit as a growth in the number of children or planning a cross-country race. So you will know that a children’s bicycle store would be more profitable than an adult bicycle store. ”

Know your competition

Business directories, industry knowledge and web searches ( Industry Canada is a good source) contain information about your competition. Or you can discover it for yourself. “Go to a competitor pretending to be a customer and learn more about the services offered, how customers and complaints are handled and how they use social media,” says Eversfield. Google Alerts can also help you track your competitors, trends, target markets, and more. ”

Action plan

You have done due diligence in doing your research. What should you do now? “It’s all about feasibility,” says Mark Eversfield. Normally you will have a better sense of what you need to do. »Use your new knowledge to complete your business plan ( LivePlan is a good online resource), select your site, adjust your product as needed, order inventory, purchase equipment, hire employees and choose a publicity campaign.

“Market research is your plan,” says Eversfield. It’s about matching your ideas to the market, or modifying them to get there, and then finding the environment in which your ideas will be successful. Market research is an argument for starting a business. Sometimes you have an argument. Other times, you do not have one. ”
Take from time to do a market study allows to minimize the potential headache. This is a good reason to do it.