Category: Entrepreneurship

5 Methods to Save Money as a Small Business

Owning a newly established small business can be difficult. If you are someone that owns a small business, then you will know just how hard it can be to cover all of your general costs while also trying to run a successful business.

Though you may not want your business to be all about money, it is hard to deny that money isn’t an important factor when it comes to running a business. As a business, you depend on your financial income and you have to make sure that your incoming and outgoing costs are balanced, which can be difficult to do. Saving money should be the priority of every small business and here are 5 methods that you can use to save your small business money.

 

Don’t hire too many staff

A very common mistake that brand new businesses often make is hiring too many staff. Staff is a key part of ensuring that your business operates smoothly, but when you are a small business you don’t really need that many staff.  If you have staff, then they will expect to work at least sixteen hours a week and if you have a lot of staff, the wage cost will be quite expensive.

Our recommendation is to start off with minimal staff and if you believe you need more help, then hire someone else. This means that you can manage your money better and pay your current staff a reasonable wage.

Hunt for deals

Many people think that business owners have to stick by wholesale prices, but this really isn’t the case. If you can get your products for a very cheap price, then you can sell them for a little more and turn a very good profit.

There are many ways that you can save money on your products. For example, if you buy a bulk order of a product then you can get it much cheaper.  Also be sure to look out for any coupons that you can use,  be sure to check out top1 coupons and deals to see if there is anything that may benefit your business.

Go online

If you are a small business and you are struggling with the costs of operating a store, we recommend that you move your business online. Moving online cuts out a lot of the costs that come with owning a business. Rent and utility costs can take a large chunk of your profits, which means that you may not start to see any returns for quite a while because of this. A lot of people prefer online shopping these days, so you may even notice an increase in sales if you do decide to move online.

Do your own advertising

Another big cost that comes with owning a small business is advertising. A great way to cut these costs is by working on your own advertising. A great way to advertise your business is actually with the bags that you give to your customers. If you have a vibrant logo and a customer walks around with your bag for the rest of your shopping trip, then other people may notice this and they may feel the need to check out your shop themselves.

Look for good utility deals

Gas and electricity can be very expensive and so it is important that you don’t settle on the first deal that you come across. Something that you may not know is that you can actually haggle with a lot of utility providers in order to get a good deal, so take the time to shop around and find the best possible deal.

Why do a lot of Business People play Golf?

Whilst isn’t exclusively business people who enjoy a leisurely game of golf, a lot of businesspeople visit the golf course much more often than the average person. Every time you visit the course you’ll always see groups of suited-up business people in the middle of a game, it also is commonly featured in films because it does happen so often. So if you’ve ever wondered why so many business people play golf then keep reading because we’ve found all the reasons golfing is good for business people.

Networking

One of the main reasons that you’ll always see business people on a golf course is because it presents some fantastic networking opportunities. To be successful in business you need to forge as many relationships and friendships as possible as it’s a very interpersonal industry.

Everyone has heard the saying ‘it’s not what you know, it’s who you know’ and the golf course is a great place to expand your circles and meet people who may be able to help you. As golf is a long game it gives you several hours of quality time to impress whoever you’re playing golf with whether it’s an interviewer for a new job or if you’re delivering a pitch to a potential investor, it’s a great environment and has a relaxed atmosphere so it’s no surprise that so many business deals are completed on the golf course. It’s also a good way to get some extra time with people, first impressions are important when forging a relationship but you can’t establish a relationship with one meeting and they’ll be more likely to say yes to playing a game of golf than they will a meeting in a formal setting. Once you’ve secured a game of golf then remember that you’ll be with the other players for hours and you’re there to enjoy yourselves and have a fun game of golf as well as to discuss business so don’t jump right in with the business talk, you’ll know when the time is right to bring it up. If you’re playing a game of golf with people that you’re trying to impress then you’ll want to make sure you’ve got the basics of the game down even if you aren’t great, I used to struggle but I vastly improved at golf with an indoor home golf simulator which I can’t recommend enough if you don’t have time to get to the course to practice.

Character Building

Golf is one of the most challenging and frustrating sports to play, you can practice and practice and start to see some improvement but sometimes even though you don’t do anything differently you can have an awful day where everything goes wrong. As frustrating as this is at the time it builds character as you’ll be able to learn from the bad game and next time you perform poorly you’ll be in a better position to deal with it. This skill is transferrable to business as you’ll have a lot of unsuccessful meetings and you need to know how to pick yourself back up after a bad one and keep going.

Health Reasons

Many business people spend hours a day every day sat at a desk looking at a computer.  This isn’t good for their health to be sat down all day, a golf course however has to be big and a game of golf on average involves 4 miles of walking. Even a weekly game of golf for a business person can massively add to improving their health. It also has a great impact on mental health as well as physical health, the fresh air, the social interaction, and the nice surroundings are shown to improve mood which many business people need after a 60 hour week A business person has a very stressful job and playing golf is also linked to lowering stress levels and can even boost confidence which is an important quality in a business person. The health benefits of golf are so good that a study showed that golfers live 5 years longer than non-golfers because of these benefits.

The Ins and Outs of Getting Settled in Australia

Immigrating to Australia is an exciting time in anyone’s life. If you decided to take the plunge and move to the land of sunshine, you have a great adventure ahead of you. Filled with sunny beach days, incredible BBQs, and a lot of exotic animals.

But moving to Australia also comes with its own set of challenges that are less fun to navigate. And often, for those unprepared, a lot of these issues can blindside you. So we have put together a helpful guide that will walk you through the Ins and Outs of getting settled in the beautiful land of Australia.

 

The Heat

This is the biggest issue you will face as it is also the most unavoidable one. Australia is hot. It is easy to look at the sunny views presented in the media and fall in love. But we often forget how hot it actually is.

Australians are acclimatized to the heat, due to years of exposure. And after a while, your body will also start to acclimatize to it as well. But for the first few months, or maybe a year, you will be struggling. So you need to find ways to beat the heat.

Firstly, stay hydrated. You will need to drink a lot more water than you normally do, at least until your body stops sweating so much. Secondly, try to stick to the shade as much as possible. The temptation to build up a tan is going to be there, but trust us you want to be kind to your skin.

 

Legal Help

A different country means different laws. And not just the day to day laws but the more intricate issues such as inheritance, permits, and smaller legal details like that. You don’t want to make an innocent mistake that ends up costing you a small fortune in legal fees.

To that end, you will want to find a good legal firm that can quickly go over all the finer details with you. You will need to reorganize your will and inheritance forms to adhere to Australian laws and make sure your visa and working permits are all up to scratch. You can find a good list of legal firms here.

 

Insects

Australia is famous for its wildlife. In particular its insect life. You cant mention the country without someone making a joke about poison spiders sneaking into your shoes or snakes coming out of your pipes.

But these jokes are sadly based on truth. These things can happen. The snake one is a lot less likely, but chances are you will start finding spiders or bugs everywhere. You will want to check the list of native wildlife that will be present in the area you have decided to move to.

You will then need to take the necessary precautions to deal with them. You won’t be allowed to go around destroying habitats or ecosystems. That is a big no. But you can secure your home with a variety of anti-bug gadgets and stock up on bug spray. You will want to invest in bug screens and keep your shoes safe in a box to make sure no insects take refuge in them. And also make sure to check them before you put them on, just in case.

 

We hope this has helped you figure out your first move when you arrive in Australia. It is a beautiful country filled with natural wonders, friendly people, and rich in history and culture.

 

 

Essential Services: What Classifies A Business As Essential?

Essential Services. This is a term that has been thrown around a lot this past year. As the world has undergone one of the most drastic pandemics in recent history, Essential Workers have stepped up and provided us all with the help and support we needed. But what does the word ‘Essential’ actually mean in this context?

Of course, in the very base definition, it means a service that is needed more than any other. That much is obvious. Essential Services are ones we cannot do without. Firefighters, Doctors, and Nurses, water and power facilities. But it goes deeper than that. We are going to briefly explain what it is to be an Essential Service. The perks that come with it. And a few reasons why you don’t actually want your own business to be an essential service.

 

Security

The biggest advantage of an essential service is, of course, the security that comes with it. Essential services are regulated and maintained by legislation. This is handled at the governmental level, either for a specific country or from a collective body such as the UN.

This means the services are needed and will not shut down during turbulent times, as we have seen during this pandemic. It means those working in these sectors will still be earning a living wage and won’t be sitting idle. This is also a huge benefit to those relying on these services.

 

What Is Essential

Aside from the most obvious answers, there are a few other sectors of the business world that you might be surprised to learn are classified as essential services. An example is Pest Control. In America, very recently, pest control was deemed an essential service. This means companies like permakillexterminating or ampest are now essential.

This is fantastic, as the vast majority of these firms are privately owned and, as such, provide massive benefits to them and the local economy as well.

Supply chains are also considered essential, meaning fleets of delivery drivers, factory floor workers, and other management areas are going to be kept in work. This provides a further support channel to keep the economy afloat.

Construction is a field most people wouldn’t realize is classified as essential. Due to the vast numbers of people employed in this field, and the constant need for their services, it would be impossible for it not to receive Essential status.

Reading this, you might be wondering how being an essential service could ever be seen as negative for a business. Allow us to explain.

 

Restrictions

The legislation put upon these services works both ways. It provides security for those working, and those benefitting from the services. The biggest security point being a lot of these labor forces are not allowed to strike. This might sound extreme, but that is the price that is paid for being essential. A strike would be devastating to everyone involved.

These services are also forced to adhere to strict regulations and rules. There is no room for innovation or compromise. The red-tape is out in full force.

All of this works together to create an environment that does not benefit a lot of businesses.  It really is reserved for those aspects of society that we cannot do without.

But don’t dismay. The benefits of being a non-essential, or what is called a minimum service, are fantastic. You are supported by a lot more labor laws and the freedom to strike. You aren’t hampered by strict government regulations and have a lot more freedom and control over your business.

Why You Must Stay Positive to Succeed in Business

The world of Business is full of trials and tribulations. There are constant obstacles to overcome. Numerous challenges to rise to. And plenty of competition. Having a wealth of business knowledge is important, but it only goes so far. With real estate, location is everything. With business? It’s all about attitude. You need to be able to foster relationships, maintain bonds and keep your mind focused and on the ball. Below are a few reasons why this is needed and ways you can better tune your attitude towards success.

Law of Attraction

This is a very simple philosophy that can change the way you live and go about your business completely. It states that if you put out a positive or negative attitude to the world, you will receive back what you put out. This translates to the world of business in a few ways. Principally, if you approach your ventures with a mindset of success, then you will find success comes to you easier. If you approach your colleagues with positivity and commitment, they will respond to you in kind. And in the world of business, both these things are vital. If you visit jewelshealinggarden, you will be able to find out more about the law of attraction.

Steps to Success

Business is never a straight upwards path. There will be setbacks and failures. There are times you won’t meet your goals and you will want to give up. It is at times like these that a positive attitude is vital. When you make your goals, it is important to approach them with the mindset of success. Visualise your self-completing them. But at the same time, know your limits. Remember you are only human, and mistakes happen. But view these mistakes with positivity. They are a learning experience. Utilise them.