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Buying an Online Business: What is it worth?

Start or buy an online drop shipping business using Shopify and Oberlo - online training courses to work remotely from home - EzyLearn

I’ve been speaking to an ex-corporate employee from the US lately and we were talking about buying an online business. It’s something that I have spoken with people about a lot but it seems to be more relevant now that we’re all stuck at home!

The common words online business buyers and sellers use are “drop shipping”, “affiliate marketing”, and “advertising revenue” and they are synonymous with Google and Amazon. It’s little wonder these companies continue to grow during the Covid19 crisis, but there is lots more to consider.

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Airtasker Desparately Seeking Links

Airtasker, Fiverr, Upwork, Freelancer - people starting a bookkeeping business or digital marketing business

Airtasker is an Australian success story in the Gig-economy for individuals who want their own micro business doing odd jobs for other people. Just like Uber, Ebay and other online marketplaces they leverage their digital marketing and brand to help individuals find clients and customers – for a fee. 

Airtasker and marketplaces are a great place for people who want to start their own business but these systems fail when a better alternative comes along.

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Expression of Interest: Earn Money as an Accounting Course Tutor

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CONTINUOUS IMPROVEMENT IS fundamental to our online training courses. Part of this is the way we systemise our course support so we can be super-responsive and detailed.

We’ve learned where the headaches tend to occur and where students encounter the most problems. We generally have an answer to every question. However some students would still like the option to speak directly to someone currently working in their industry of study and that’s where this program comes in. Continue reading Expression of Interest: Earn Money as an Accounting Course Tutor

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Working Less to Earn More? Why Freelancing is So Darn Popular

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EMPLOYEES IN GERMANY have the world’s shortest work week, according to SME Magazine. Their work week averages just 26 hours due to strict workplace relations laws that promote a healthy work-life balance.

Sweden is also known to have implemented a 6-hour workday, or 30-hour work week, following research which has found that countries with shorter working hours generally have higher disposable incomes, greater productivity, and a stronger economy as a result. How can you do this in Australia?

Continue reading Working Less to Earn More? Why Freelancing is So Darn Popular

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Why Freelancers and Contractors are Good for Your Company

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THERE ARE ESTIMATED to be over 4 million Aussies working as freelancers. Of this, roughly 750,000 people work regular jobs but freelance on the side (which, needless to say, is a great way to break into freelancing while reducing your risk).

The number of freelancers in Australia has skyrocketed since the GFC, partly because of the overall reduction of the workforce; and partly because of the number of mature-aged workers staying in their jobs past the traditional retirement age.

These factors combined produced a bottleneck effect in the job market, which made it difficult for certain workers to advance their careers, while others, typically young graduates, struggled to gain a foothold in the job market at all.

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Why Older People are Saving Startups

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There’s a growing freelancer economy in Australia which is being driven by the decreasing number of full time jobs.

Freelancing and working as a contractor is popular among young workers due to fewer job vacancies that exist because older workers are remaining in their jobs for longer.

There’s also more women with children starting their own businesses and working as freelancers and contractors. Without generalising older contractors don’t try to pretend they’re something they’re not and business respect their experience – AND small businesses need these people.

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How Aussie Mums are Starting their Own Businesses

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THERE IS A FAIRLY SIGNIFICANT gender imbalance for executive positions in the corporate world. Sure, there are notable exceptions, but men in managerial positions in the workplace still outnumber women two-to-one.

But when you look at some industries, like Bookkeeping, the numbers are massively swayed towards the female gender and one of the reasons is it can be the perfect business to run from home.

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The Risk-Free Way to Become a Freelancer

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IF YOU’VE EVER DIPPED your foot into starting your own business, while keeping a steady income flowing from elsewhere, all at the same time, then you’re far from alone.

During the global financial crisis and in the years that immediately followed it, a funny thing happened to the job market: it birthed a freelancer economy, of which a third of Australians in the workforce are a part, and many of these freelancing individuals are also working at (an)other job/s.

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She Shares “Sales Secrets” for Bookkeepers Starting New Business

ONLINE INDUCTIONS ARE WIDELY used for contractors who visit building sites or any other site where they perform work that can be risky, like plumbing, electrical, HVAC, roofing, security etc.

Many  inductions are delivered manually by a qualified staff member (usually in the WH&S department). Usually any person in the organisation or business who hasn’t yet been inducted will be notified about the forthcoming induction and urged to attend.

However, this way of carrying out inductions can be a little hit and miss — people can be absent, overlook (or ignore) communications, and the quality of the inductions themselves probably vary.  Continue reading She Shares “Sales Secrets” for Bookkeepers Starting New Business

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Can You Ask Any Business Person What Their Day Rate Is?

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Pricing your products to adapt to change

business management course online learning study how to price
Would you be able to adapt the figures to adapt to change?

THE TRADITIONAL REAL ESTATE agent model is being challenged by disruptor sites like BuyMyPlace and Purplebricks. These sites are offering homeowners low-cost way to sell their homes and agents are increasingly having to be open to different ways of operating.

But change can happen at any time in any industry and it can happen swiftly; business owners and operators in all fields need to be able to adapt to change and see it as an opportunity to do their business differently. Often times, what’s required is a change to the way you price your products and services. And there are many things other people in business can learn from the real estate industry.

I was looking for a roofer to do some work for me recently. The first roofer I spoke to said he could solve my problem for a flat $1200; estimating the work could take between one and two days. Another roofer I spoke to, and ultimately ended up hiring, said he would charge me his $600 a day “day rate” until it was fixed; it only ended up taking one day.

How much time do agents spend selling your home?

Like Rome, a home isn’t sold in a day. Depending on the property and its location it could take anywhere between four and six weeks; quite likely less, but sometimes more.

But an agent doesn’t spend every one of those days working on your property. They spend portions out of their day working on it. An agent will often have three or four listings at the same time so they’ll split their time among those listings, while also chasing down leads for new listings.

Consider the Purplebricks method

Purplebicks has determined that it will cost between $4,500 and $6,000 to appoint one of their “property experts” to sell your property. Although they’re licensed real estate agents, they don’t call them that, because the service is different. (Buyers arrange inspections and make offers through the Purplebricks “property portal,” which homeowners also use to make appointments with buyers and accept offers.)

The Purplebricks fee, which is payable regardless of whether the property is sold or not, covers the cost of an agent-appraisal, all the marketing and advertising costs, as well as conveyancing. But the homeowner does the rest via the Purplebricks property portal software.

Find an agent that’s willing

If you’re prepared to pay an agent for the time they spend working on the sale of your home, regardless of whether it’s sold, you might find one that’s willing to alter how they’re paid. More real estate agents are trying to be as transparent about the process as possible, and this is just one more way that they can be.

Sweeten the pot by breaking the process down into phases (a four-week campaign may have two; a six-week campaign three) and pay them once each phase has been reached, like you would a builder. You can even add another sweetener: a bonus if the agent sells your home over a certain threshold.

For the agent, the upshot is getting regular money (which is good for their cash flow), rather than waiting until the property is settled.

There are many things bookkeepers — and anybody else running their own business — can learn from the real estate industry; see some of our past blogs about setting prices; formulating sales pitches; how to use video and images and how to advertise on Facebook.


Stuck in a rut running a business for yourself?

“Mark Starts his Own Business…”

business and marketing help for tradiesAs part of our EzyStartUp Course, we give you real-life business case study scenarios, including the case of Mark the Painter and Decorator. This case study outlines the questions asked by every business owner when they first start a business: What should I do and how much should I charge?

 

Some jobs are small and straightforward, while others are blow out and become time consuming and fiddly; some work is complex and requires fine detail, while some work is basic and low level.
Managing ones’ time and figuring out how to price for different kinds of work is always a challenge in the successful running of any business.
Our EzyStartUp Course teaches you how to use digital and social media marketing to attract enquiries, how much to charge, and how to clearly define the work to be done. We explore productivity tools like Google Gmail and Calendar to help manage time, improve sales and customer service, and how to manage the change in your charge-out rate depending on what clients are willing to pay in the market.

Find out more about our EzyStartUp Course and Digital Business Course.


 

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When a Bookkeeper Isn’t Just a Bookkeeper

start your own bookkeeping business registered BAS agent business

Why NOW is the time to become a work-for-yourself bookkeeper

THERE ARE UMPTEEN REASONS why starting a bookkeeping business is a great low-cost venture for people looking to take a step back from the corporate world, or even for those looking to do quite the opposite by working from home so they have the flexibility they need as parents to young children.

If you’re a subscriber of this blog, then you’ve read posts about National Bookkeeping, the company EzyLearn has partnered with to deliver training courses to people who become National Bookkeeping licensees.

However, I’m going to talk about it again because there are still too many talented people out there who don’t think they have what it takes to go into business for themselves. And I’m here to tell you, you do, and we’ll help you!

Continue reading When a Bookkeeper Isn’t Just a Bookkeeper
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Don’t Forget: You Can Still Deduct 20k In Asset Purchases till 30 June

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EOFY Asset Deduction

asset deduction bookkeeping business online study training course videosTAX TIME IS NIGH and it might be a good time to think about whether there are any assets your business may need, and try to get them in before June 30 rolls around. Whether it’s new computers, tablets, office furniture, a new car — as long as each item costs less than $20,000, you can deduct it immediately, rather than depreciating it over time, as was the previous method for assets over $1,000 in value (depreciation still applies for asset purchases above $20,000) — but only until and including 30 June 2018.

The small business tax breaks were introduced by the Abbott-Hockey government, but having already been extended, they will cease on 30 June 2018. Following this date, any big ticket assets for your business (and of course there are some exceptions) can be used to reduce your taxable income immediately.

Pick an asset, any asset…

There are a lot of items you can deduct, with the exception of some small items, such as horticultural plants, software that’s allocated to a software development pool and some capital works, which have special depreciation rules. If you’re not sure of what you can claim, it’s wise to ask your account or financial adviser first, particularly if you have a penchant for horticultural plants (perhaps try artificial ones?), otherwise make sure to keep your receipts!

After 1 July 2018, the asset threshold will reduce back to $1,000. After then, any asset purchase you make that’s greater than $1,000 will have to be depreciated, using the traditional methods of depreciation, which you can read about in this blog post.

Australia is a services nation

While you’re thinking about starting a business, don’t forget to consider starting a business within the leading four service groups, identified by Australia’s Chief Economist Mark Cully:

  • Professional and support services
  • Information and communications technology (ICT) and the digital economy
  • Trade, transport and logistic services
  • Utilities services

Professional and support services, in particular, is currently experiencing a phase of high growth, largely because starting a business in this sector is both low risk and cost. Most businesses operating within the professional and support services sector are home-based, providing vital services to other businesses located across Australia and, sometimes, the world.

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Starting Your Own Bookkeeping Business

woman learning xero myob excel online training course videosOne such profession currently in high demand is bookkeeping, specifically BAS and tax services. As more and more Australians start their own businesses, there becomes a greater demand for bookkeeping, BAS and tax services. EzyLearn recently partnered with National Bookkeeping to help registered BAS and tax agents to start, growth and develop their business, by becoming National Bookkeeping licensees.

Visit the National Bookkeeping website or contact their team for more information.

Read more about the requirements to become a registered BAS agent.


 

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Amazon is Here, But How Do You Get Traffic?

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Can you make real money by selling on Amazon?

NOW THAT AMAZON has launched in Australia, one of the hottest work-at-home opportunities is to become an Amazon seller, especially if you become part of the “fulfillment by Amazon (FBA) program”, which is due to launch in Australia in 2018, along with Amazon’s “fresh” program.

We have helped hundreds of bookkeepers to find work and launch into business for themselves, and so we wanted to investigate some of the pros and cons of venturing into business selling products on Amazon.

In the FBA program, there are no upfront costs, and sellers don’t hold any stock or have to worry about shipping products to customers — they just have to find items to sell on Amazon.

Continue reading Amazon is Here, But How Do You Get Traffic?
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What Does Employer Recognised Mean?

registered BAS agent joining an employer recognised industry association

Going beyond merely training and helping you to establish your career

registered BAS agent joining an employer recognised industry association

THERE ARE A NUMBER OF industry associations that BAS agents (and aspiring BAS agents) can choose to join. However, as a BAS agent you are not compelled to join an industry association unless you really want to — it’s totally up to you. If you’ve been looking around and comparing the different industry associations you can join, you may have seen the term “recognised employer” or “employer recognised.”

A “recognised employer” is an organisation that’s partnered with an industry association and made a commitment to the professional development of their employees. The CPA, for example, says on its website that becoming a recognised employer will help firms attract top talent and provide training to their staff.

A mutually beneficial relationship

Organisations partner with industry associations to become recognised employers because it gives them access to the association’s members, the majority of which are often looking for work.

In turn, the organisation is attractive to members because it has the association’s endorsement. And the industry association usually gives its recognised employer partners access to discounted training for their staff.

Employer recognised

Because of this relationship between organisations and industry associations, members will often hear or see the term “employer recognised” used by their industry association. It’s basically the inverse of “recognised employer,” and it’s not unique to industry associations.

EzyLearn is an employer recognised training organisation, because we are the online training organisation of choice for many well known organisations in the accounting, bookkeeping, finance and related industries. (Plus some unrelated industries too!)

EzyLearn training at small, large and public sector firms

EzyLearn has delivered training to small and large organisations, as well as state and federal government departments, including WorkSafe and WorkCover. We use our online learning management system so people at the companies and organisations we work with can complete training remotely from their workplace or at home.

This gives students and employers the flexibility to choose when training will take place, rather than being restricted to a specific time and place, as occurs with face-to-face training.

It also means, we’re able to deliver lots of different courses, simply by making them available to each organisation and their staff, who can then study multiple courses successively or concurrently. This would prove quite difficult to organise if training was being delivered in person.

Why EzyLearn is employer recognised

It would require multiple training sessions over an extended period of time to make sure each employee who wanted to study got the chance to. And it would be expensive for the company as well. There’d be the cost of paying the trainer, room hire, and a day off work for the employees. This is also why our learning management system is so beneficial for organisations carrying out inductions.

EzyLearn is the preferred choice for dozens of companies because our courses are structured to let students choose when to study and the pace at which they’ll complete the coursework. Students can jump back and forth between the modules, studying the most relevant portions first before going on to complete the rest of the course.  

Thousands of students study with EzyLearn to find work

Besides working with employers to help maintain their employees’ professional development, EzyLearn is also the training organisation of choice for thousands of students who wanted to refresh their skills to find work. Nearly all of those students went on to find employment, while many others either started their own businesses or added to their skills while already running a business. Our website has an abundance of testimonials you can view which show how people of all ages, from all backgrounds, have used the EzyLearn online training courses as a springboard to find work, start their own businesses, refresh their training and many other applications.

For students looking to start their own bookkeeping business, it is worthwhile taking a look at EzyLearn’s partnership with National Bookkeeping. Individuals who join National Bookkeeping as a bookkeeper receive help starting their own business — through lead generation, marketing and promotion — in addition to software and digital marketing training to ensure their business’s longevity in the marketplace.

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Learn more about why EzyLearn is an employer recognised training organisation and view our extensive range of training courses. You can also learn more about becoming a National Bookkeeping bookkeeper at the National Bookkeeping website.

 

start your own business as a bookkeeper

See National Bookkeeping for more details.

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What’s an Earnings Guarantee?

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Will your business be able to stand up without an earnings guarantee?

WHEN YOU START A NEW franchise business, you may be offered what’s called an “earnings guarantee” or “income guarantee” for a period of time after you first start the business. It usually lasts the first six months but it could possibly last as long as a year.

Earnings guarantees are designed to help people transition from having a salary to being self-employed, by providing them with a top-up payment each month if their sales fall short; peace of mind for those would-be business owners, concerned about all the “what if’s” that come with starting a new business.

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Sometimes “Real World” Marketing, Not Digital, is More Appropriate

IF YOU’RE A TRADIE, working as a plumber, builder or carpenter, handyman, gardener or electrician, then you probably already know that some of the best jobs come by referral.

Identify “real world” sales opportunities

During my recent renovation of an investment property in Newcastle, most of the good tradies would tell me, “Someone you’re working on a job with on Monday will ask you to do a job for them somewhere else on Friday, or a neighbour of a client will ask you to do some work for them.” I soon saw from other tradespeople how “work can come to you just because someone happens to be walking by while you’re on the job” — gardeners get a lot of work this way, for example.

The important thing in this scenario is to act efficiently in finding out what the potential client needs, finding out what else is important, and then selling them on your services. I recently had the pleasure of interviewing Kristine Seymour, an experienced sales person and business builder, for the Sales Training Course at the Australian Small Business Centre (ASBC). She spoke in detail about how to act when your future income depends on how well you can sell. This Sales Training Course is available on the EzyLearn LMS.

Continue reading Sometimes “Real World” Marketing, Not Digital, is More Appropriate