This course was previously only available as part of our Small Business Management Course, but because it’s such an important first step in starting your own business, we decided to make it available for individual enrolment.
The course focuses on the all-important research phase of starting a business. In order to complete this course, students will need to already have an idea for a business, which they can begin researching.
In the originate and develop concepts course you’ll be looking at things like the geographical area your business will service, whether seasonal factors will impact it, demographics and other socio-economic information that may be necessary.
These are important first steps that many business owners don’t learn until they’ve already opened their doors, at which point realigning their business accordingly is often costly and difficult.
But if you’ve already determined that to start your virtual bookkeeping business, you need compete, say, with two other established bookkeepers who only offer straight bookkeeping services, you can offer BAS services and establish a point of difference between yourself and the competition from the get-go.
Knowing where your business stands in the marketplace will also aid you in marketing and advertising your business, while it’s also necessary to have completed this kind of preliminary research if you intend on securing finance from an investor or a bank.
In the course, you’re also required to isolate your ideal customer, which is imperative to ensure you’re delivering the correct products or services, but again, also helps you market your business directly to that person – because you know exactly, what they do and how to reach them.
The word ‘contractor’ doesn’t just relate to tradespeople, like plumbers or electricians, who may come to your business to perform work. It also refers to the IT or marketing consultants or temp workers who regularly come to your office to work.
Even though they are usually employed by another organisation, or perhaps even self-employed, while they are at your office or premises you are still bound by a duty of care to ensure their safety.
This means providing them with work, health and safety training – although they are not required to provide a safe work method statement (SWMS). (That is a requirement only for tradespeople.)
Induction for Info Beyond Safety
But safety aside, it’s important you provide induction training that also covers where contractors can refer customers for customer service or more detailed product information.
Induction training is even necessary to advise contractors of common things, such as where they can find parking, where local amenities – like cafés and train stations – are.
Many companies provide this information in the form of hard copy ‘welcome packs’, but it’s much easier and more efficient – particularly if your organisation uses contractors often – to deliver this induction information using an online training course.
Further, besides creating and updating the training material itself, online induction training courses require very little maintenance. And the training material can be as simple or elaborate as you like. By delivering your course online, you can add steps to ensure people actually read the material. It’s as simple as creating the course in PowerPoint, recording your audio and uploading it to your learning management system.
The Importance of Due Diligence and Morale Building
The most important part of an induction training course is that it shows evidence of due diligence. That is; you have made a concerted effort to ensure contractors are aware of certain process and procedures within your organisation.
Induction training is also an important aspect of building team morale. Whether it’s among your permanent staff members or contract and temp workers, if the morale within your organisation is low, your business will suffer as a result.
A key way to build team morale is to ensure your staff, contractors and temp workers understand what is expected of them in terms of performance – and what they can expect of you in return.
And though no one likes to think about the negative things like this, induction training is very important should you ever find yourself involved in legal action over something a contractor should have known about.
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If you would like to learn more about induction training for your organisation, visit our website, or request a quote from us.
The price you charge for goods or services should always include GST.
We are regualarly refreshing the content of our MYOB training course so that you can benefit from all the new information that is always coming in about being a bookkeeper, running your own bookkeeping business or doing the books for someone else’s business.
If you’re not on board yet, here are four reasons why you should be!
Search engine optimization: like it or not, SEO is still plays a huge part in how your customers arrive at your website. Using analytics you can see exactly what keywords and key phrases your customers are searching. Know this, and you’re able to create content that makes it almost impossible not to sign up for that newsletter, download an ebook, etc.
Socially active: everyone knows that social media can drive traffic and result in leads, but what platform is best? Analytics answers this question without even breaking a sweat. For some businesses Facebook is the must-have platform, but for other businesses LinkedIn is more useful, so why waste your time on the wrong one if you don’t have to?
A/B split testing: by combining the new-fangled world of web metrics with old school metrics like A/B testing, the internet doesn’t combust, but does, in fact, make fine-tuning your call-to-action strategies a cinch — particularly which ones to use and which ones to ditch. We recommend using another piece of software called Optimizely, but more on that later.
Personalise email marketing: ever wondered how to increase the open-rate of your newsletters and emails? Wonder no more! Say a user arrives at an ebook download and then subscribes to your newsletter — does that mean they’re interested in a certain product or service? Probably, so why bother them with irrelevant information? This is a particularly useful given the sheer number of emails most people receive today.
By now you should be asking yourself how and where you can find this analytics train so that you can board it. In our Digital Business Course we recommend using Google Analytics because it’s free and easy-to-use, which are maybe two of the most important things small business owners care about, right?
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For small businesses wondering how you can best transition online, either in part or entirely (like EzyLearn did not so long ago), our Digital Business Course has been especially created to demystify this process.
If your business isn’t using web analytics then you’re still not using your website to REALLY understand what makes your customers tick.
Ok, so you’ve got a website and on it you have all this information about your company — who your people are, what you do, how customers can contact/connect with you — and best of all: you get heaps of page views every month! Talk about winning the Internet! You’ve got this website marketing business down, am I right?
Except that maybe you don’t. And for this reason, we’re currently developing a new Digital Business Course to help businesses transition into the online world. A big part of that transition involves understanding how web analytics work, which is the bread and butter of any successful website — and indeed, successful business.
How to Use Web Analytics
To get the most out of web analytics, you kind of need to change the way you view your website. You need to see it as a form of marketing, just like an advertisement in a newspaper or a piece of direct mail. Once you start treating your website the same as you would any other marketing activity, it’s likely you’ll have some questions you’ll want answered.
Your Conversion Rate – Do YOU Know It?
Somewhere on this list — though we imagine that it would be on the top — should be “What’s my conversion rate?” To answer this question, you need web analytics. We recommend Google Analytics, namely because it’s free and extremely easy to use.
Your conversion rate is the number of people who have visited your website and carried out some form of action — signed up to a newsletter, made a request for more information, downloaded an e-book, and so on. In short, it’s any action that involves the exchange of information that you can later use to develop into a sale.
Constant Improvement
But the real genius of analytics lies in how it allows you to isolate problems with your website’s content and refine them. For instance, if you have a rather average conversion rate, but a high bounce rate (the number of people who leave your website within 30 seconds of landing on it), there’s a good chance that’s there’s something wrong with the keywords you’ve selected for your SEO. Or you’ve selected keywords that your website’s content doesn’t address properly. Either way, you need to fix this.
Finding Out How Your Customers Think
Once you do, you should see you bounce rate drop off and your conversion rate increase, which means more opportunity for more sales. And just think: if you didn’t have analytics, you’d have never known. This is what makes web analytics invaluable for small business owners, because it gives you rare insight into what makes your customers tick — what are they really looking for, and how can you adapt your business to meet their needs? — and provides you with the opportunity to meet those needs.
In essence, small business owners now have the same resources at their disposal as large multi-nationals, who typically spend bucket-loads on research and development, focus groups, and the like, trying to ascertain what exactly their customers are looking for — and even then, often don’t get it right.
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At EzyLearn, we use web analytics extensively to ensure we’re constantly meeting the needs of our students and potential students. Through web analytics data, we ascertained that a number of small business owners were looking for a cheaper alternative to MYOB, so we developed two new cloud-accounting courses: the Reach Accounting Training Course and a Xero Training Course to satisfy that need.
This post has been created to demonstrate simple accounting principles for our MYOB Training Course students. It demonstrates, visually, a very simple fact that is often sensationalised.
I’ve been to many presentations, seminars and watched hundreds of webinars run by people who describe themselves as gurus yet the secrets they reveal are actually just plain old good accounting principles.
For any new business, it’s important to market your new business so develop new leads and customers, but it’s also important that your marketing costs don’t outweigh your income. In the marketing module of our small business management course, we talk about Google Adwords, which is a low-cost way to advertise your business online, using keywords.
Another Option is Facebook
Facebook is also another option for businesses large and small, but we think it works particularly well for small businesses, due to the community-minded nature of Facebook, itself.
There’s an old saying around EzyLearn: People like to do business with people they know, like and trust. Facebook helps you to develop online relationships with your customers, allowing them to get to know, like and trust you.
But in case you’re still not convinced, here are another 6 reasons why you should be on Facebook:
Population and penetration: We know that over 1 billion people are on Facebook, but what’s the penetration rate for a market, like the USA, for example? 67 percent of internet users in the US are on Facebook; in Australia that penetration rate is much higher—82 percent.
Age: Facebook skews young—83 percent of 18-29 year olds are on Facebook—but the 45-54 age-bracket has also seen 46 percent growth since the end of 2012.
Income: The incomes of Facebook users higher than any other social media platform. 73 percent of Facebook users earn more than AUD$75,000 compared to 17 percent for Twitter.
Mobile: Social media is the most popular social media app on smartphones and accounts for 66 percent of total social media sharing on iphones.
Gender: Like every other adverting medium, Facebook also skews toward women, but it’s still more gender neutral than Google+ or Pinterest.
Education: Nearly 75 percent of Australian Facebook users have some form of university or tertiary education.
If you’re looking to target any or all of these demographics for your small business marketing campaign, then create a Facebook page and start marketing your services to your followers.
Michelle provides support for our MYOB training course students
Did you remember receiving that blog post about us looking for a person to work with us doing office admin in Chatswood? Michelle, one of our MYOB course students, completed her Business Service Provider profile and fit the bill so we brought her in for interviewing.
Michelle is a hard working mother of two teenage children and she has worked hard to learn new skills, while managing her fathers business, building it’s website and lots of other great things.
Michelle is now part of our team and she’s learning a lot of new things about how we operate our business, how we promote ourselves online and also how we use online marketing tools like Google. Most importantly I’m introducing her because she’s available to help current students get through their course as part of our Student Community and Tutor Support program to helps them in their journey to find MYOB jobs.
But more than MYOB, Michelle is currently completing her Cert IV in Small Business Management with the aim of being able to help people start their own business or manage their existing business better.
Welcome aboard Michelle 🙂
We’re revamping our Student Community and Tutor Support service to specifically focus on skills to help students find MYOB jobs and learn small business management skills and Michelle will be available to help students.
MYOB jobs in Chatswood and Gold Coast.
I was so impressed with the result of our search that I’m reaching out again. We are looking for another admin assistant at our Chatswood office and also in the Gold Coast area so if you live in these areas make sure you complete the Business Service Provider and tell us a bit about yourself. We prefer to work with students who have completed our course and understand how we operate our business so you get the first chance!
Keep up to date with the government’s increases to superannuation.
Now that we are offering the Small Business Management Course, and with so many of our MYOB Course students running their own businesses, many of our readers will know that the Superannuation Guarantee (SG) rate increased on 1 July to 9.25% in a government scheme that will see the SG rate increase incrementally until it reaches 12% in 2019-2020.
The increase to the SG rate follows 2010’s Henry Review, which identified that the number of Australians over the age of 65 would increase from 3 million to 8.5 million by 2050.
Who Pays? Workers or Employers?
The scheme can be seen as a coup for workers. Business owners, however, will receive no government assistance in meeting the new rate. As such, the scheme has been criticised by some economists who believe it will adversely affect low-income earners.
Writing for ABC’s The Drum, Sinclair Davidson a professor in the School of Economics, Finance and Marketing at RMIT University, called compulsory superannuation a “fiscal illusion”.
“The illusion,” Davidson writes, “revolves around the fact that superannuation is an ‘employer contribution’ — many people think superannuation is paid by employers and not employees.”
While the government will kick in an extra $500 for those low-income earners taking home less than $37,000 per year, the increase to the SG rate for most workers will mean a reduction in their take-home pay, though maybe not immediately.
Conceding that many employers will reduce pay rises in order to offset the cost of the SG rate increase, the government has, however, cautioned business owners that breaking wage agreements won’t be tolerated.
But given most employers now advertise salaries as a “package” that includes superannuation, holiday and sick leave, annual leave-loading, overtime, and the like, a $60k salary package just became $150 lighter almost overnight.
On the upside, however, by increasing compulsory super contributions by 3 percent, an aggregate $500 billion will be added to the existing pool of superannuation savings by 2050.
If you’re a business owner, as it’s now 1 July, you must pay 9.25% super for each of your employees until 1 July 2014, when the SG rate will increase again to 9.5%.
For a full schedule of the SG rate increases visit the Future Tax Website.
It’s all too easy to be distracted but if you do you’ll work harder and longer with less results.
As part of the Lifetime membership when you do an EzyLearn MYOB training course, you get ongoing access to the content we are constantly updating to reflect the ever-changing bookkeeping industry.
If you’re one of the many bookkeepers who have started your own business after completing our online MYOB course or perhaps you’re thinking of starting your own business, then today’s post is here to say loud and clear — don’t waste time on things that don’t matter!
As part of our range of courses, EzyLearn is now offering a small business management course which will give you the skills you need to start your own business. It will also teach you how best to spend your time by doing tasks that result in profits, rather than getting distracted by things that don’t matter. (It’s a little frightening just how many business owners do, though!)
Classic Time Wasting
We’re all guilty of it: logging into Facebook to post a quick update and spending an hour watching cat videos. Wasting half a day trying to create the perfect flyer/postcard/ logo/webpage/cover image/thinga-ma-jig when you should have outsourced it or settled on version #5. Taking a week to make a decision because you “need” to have all of the facts.
Here’s the thing. Wasting time may seem innocent enough. But it is destroying your business. It is causing you to work too hard and too long. It is causing you stress and making you feel unproductive.
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If sales and marketing are what you do when you have time or when you get around to it, then you will never have the business you want.
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The List of Main Priorities
Your main priorities should be (in order of importance):
1. Servicing current clients.
2. Having a sales conversation with hot prospects.
3. Cultivating warm prospects.
4. Identifying leads and getting referrals.
5. Marketing your business with social media and other tools.
6. If you have a website, creating content that people want to read.
7. Creating new products (that is, solutions) to service your client’s needs.
8. Everything else.
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There’s no better time to start than right now (a tad cliched, but true). Spend the first hour of today only working on things that will get you more clients. That’s it. Nothing else. Only tasks that will grow your business. See how that feels. You’ll find it feels a whole lot easier doing the same thing tomorrow. And the next day. And the day after that. Learn to always prioritise and you’ll really start growing your MYOB or small business.
We’re often talking about start ups, starting a new business, what it takes to succeed, and we cover many of the practical aspects of owning and operating your own business in our Small Business Management course. We’ve also touched on prepaid legal services for bookkeepers who have completed our online MYOB training course and the latest provider to enter the prepaid legal fray: LawPath — which is also the latest venture of start-up incubator, Pollenizer.
Pollenizer: How it all Started-Up
Based in Sydney’s Surry Hills, Pollenizer, which was founded by Mick Liubinskas and Phil Morle — the former chief technology officer of infamous file sharing site, Kazaa — aims to co-found companies and grow them to a point where the founders can then exit for a profit.
Pollenizer’s most recent success story is that of group-buying site, Spreets, which was sold to Yahoo for $40 million dollars after only 12 months.
When Morle and Liubinskas spot a start-up they’re interested in, they invest up to $150,000 to help get what is often just an idea scribbled on a napkin off the ground.
Pollenizer’s Start-Up Science
How do ideas make it to some kind of fruition? This involves employing what Morle calls the Pollenizer “start-up science” where each start-up is dragged over Pollenizer’s so-called technical and marketing coals.
Discovery, Validation and Efficiency
Starting with discovery, the Pollenizer team looks into whether a particular start-up solves an existing problem and whether customers will pay for the solution. Next, is validation — testing whether real people will actually want to pay for the product. The last stage is efficiency: ensuring the business is capable of operating when more customers come on board.
But about half of the start-ups don’t make it past the second stage.
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But one of the most interesting aspects to the way Pollenizer operates occurs before you’ve even opened your doors for business, so to speak: Pollenizer’s “start-up science”.
By methodically looking at your business idea and what your business aims to do, you’ll discover any pitfalls you may encounter, giving you the chance to modify and refine your business idea.
We all like to think we have a great business idea that could change the world. But as Pollenizer shows, for half of us it’s just an idea.
That doesn’t mean give up; it means research, reassess and retry.
How will reforms to the Privacy Act affect your business?
As EzyLearn provides what, in our humble opinion, is the best Small Business Management Course in Australia (yes, blatant plug, but we firmly believe this and can show you why) the issue of privacy, and the way people’s privacy is handled by small business, is of concern to us.
In November last year, the Gillard government’s Privacy Amendment (Enhancing Privacy Protection) Bill was passed in parliament, marking some of the biggest changes to the Privacy Act in the last 20 years. The reforms, which are due to come into force in March next year, give individuals greater control over their personal information and who has access to it, making it essential for all businesses to review the way they handle their customers’ details to ensure they’re not in breach of the Act.
Australian Privacy Principles and Direct Marketing
Perhaps the biggest change to the Act is the introduction the Australia Privacy Principles (APPs), which, by streamlining previous policies relating to privacy into one set of guidelines, will limit an organisation’s ability to use unsolicited information; regulate the use and disclosure of personal information for the purpose of direct marketing; and introduce new responsibilities for organisations transferring information overseas.
For the first time, the Privacy Act — by way of the APPs — takes issue with direct marketing, particularly whether or not an individual would reasonably expect an organisation to use and disclose their information for the purpose of direct marketing.
So for every business that collects email addresses and other personal information during the course of their operating procedures and then uses that data to contact lapsed customers or remind them of “special offers” this could well be in breach of the Act.
Regardless of whether organisations offer individuals an “opt-out” mechanism, greater onus is now being placed on how the organisation came to hold the individuals information in the first place.
Individuals will now be able to request that organisations tell them how they got their personal information or request that an organisation doesn’t disclose their information to anyone for the purpose of direct marketing.
This could potentially put an end to the practice of organisations renting data to or from other companies for the purpose of direct marketing, or at least reduce the instances of it.
Privacy Breaches
The reforms also introduce a new scheme for credit reporting — making it possible to be denied any future credit if you miss or pay a loan or credit card payment late — and give the Information Commissioner greater powers over privacy breaches.
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For every business dealing with their customers’ personal information, the new reforms should serve as an impetus to review your current policies relating to data collection to ensure you’re in compliance with the Act. To start with, does your business or website have a readily viewable privacy policy? You can find a variety of free online templates and more at LawLive.
And on a lighter note — Happy Mother’s Day to all the Mum’s out there.
We made the decision to use WordPress for our website because it’s easy to use, inexpensive yet looks professional. It’s great for blogging and bringing visitors to your website and is also really flexible — with an abundance of features, layout options and plug-ins.
Yet, when it comes to websites, there are still thousands — yes, thousands — of business owners who don’t have one. These are people who still believe in phone books.
Phone Book Uses
Phone books are pretty handy things. They’re handy for fashioning into a makeshift monitor stand to prop up your laptop. They’re handy for wrapping glassware and crockery when you’re moving house. They’re pretty darn handy for killing really big spiders. And if you’ve got a stack of them collecting dust in your garage since, say, 1982, then why not build a fort? Surely that’s pretty handy for someone, somewhere — the kids, maybe?
Phone books are not particularly handy, however, for finding a telephone number or business listing in 2013. Why flick through some-seemingly million pages searching for something you could easily find with a click of your keyboard, a glide over your tablet device, or a quick chat with Siri?
Get a Website
If you’re a business owner and you don’t have a website, our strong advice is: get one! Today, when people are searching for a business, product or service they invariably Google it, so for anyone in business, a website is an essential online marketing tool.
Again, we highly recommend WordPress. Business owners can manage their own content, which gives you enormous flexibility and it comes with a host of attractive themes and options. We offer an online WordPress training course, designed to help you understand things like SEO, working with plugins (including mobile sites and RSS feeds) and much more.
The 7 Website Must Have’s
If you’re a business owner and you already have a website but it looks like a 90’s relic with loads of Clipart, an endless-scroll of 10-point, Times New Roman copy, punctuated periodically by headings that are underlined, in bold and capped off with 73 exclamation points, then it’s time for a makeover.
There are 7 things you must do when building or renovating your website:
1. Establish Goals: Like anything in business, you need to establish some goals for your website. Things like: Why will people visit my website? What information do I want to provide? What do I want people to do next? You need to answer these questions before you begin.
2. Don’t Forget to be Mobile: The Internet is literally in the palm of your hands; so don’t forget to consider a mobile strategy during the planning stage. You’ll need to consider the main reason people will be visiting your site — for information about your products and services, to purchase your products and services, or something else — and build that into your mobile site, make it the most prominent feature.
3. First Impressions: Your website is your brand, your personality, and your reputation all rolled into one. If your website resembles the shambolic mess we described above, that’s how people are likely to view you and your business: as a shambolic mess. Photos from online photo libraries, like iStockPhoto will give your website a professional finish, but don’t forget to add a bit of you into your website. Too many stock-standard images and you run the risk of seeming generic, uninspired, bland. And bland is boring.
4. Keep it Simple: Don’t overwhelm your visitors with too many links, too many choices. This isn’t a Pick Your Own Adventure novel, it’s a website. Ensure your menu and links are intuitive and consistent. If you want to point people to the “contact us” page in your copy, use the same language that’s in your navigation menu — this will eliminate confusion.
5. Use a ‘Call-to-Action’: Your visitors are here for a reason; capitalise on that. Make sure it’s easy for them to find what they’re looking for — display contact details, proceed to checkout links, or your mailing list prominently — and encourage them to take the next step.
6. Less is More: The endless scroll of copy has got to go. It doesn’t matter how multifaceted or interesting your business is, people won’t read it. They don’t care. If you can’t whittle your business and services down to two or three (short) sentences, get someone else to — we recommend you use a professional copywriter.
7. The Need for Speed: Load times are critical. If people can’t open your page within ten seconds — that includes mobile devices — they’ll try a website where they can. If you’re taking your own photos to include on your website, remember that huge files require huge download times. Make sure to reduce the image sizes to a few kilobytes rather than a few megabytes.
You can master the skills to build a fabulous website a lot sooner than you think! Check out the details of our WordPress Course Outline
There’s an art to resume writing but it’s not rocket science.
The job market is tough; that much is true. But if you’ve been sending out your CV with very little response, the job market is only one part of the problem. It’s more than likely that your resume isn’t doing you any favours.
Keeping resume writing simple
Resume writing is about showing prospective employers why you are the best fit for a position and their organisation. It’s not about listing all the jobs you’ve ever had in the past — a café owner looking for a new barista is probably not interested in the three years you spent working in a corporate law firm.
When it comes to pointing out your experience, there are some basic do’s and don’t’s to resume writing. A resume shouldn’t be like a laboured novel; nor should it be so subtle in pointing out your experience that the reader is left to work out exactly how your experience applies to the position they need to fill — recruiters don’t have time for that.
And remember, the majority of companies today outsource the recruitment process to recruitment agencies that receive thousands of CVs and resumes on a daily basis for their large portfolio of clients. Even those companies that still handle recruitment themselves will have extremely busy HR departments; even in large companies, often there’s only one person reviewing the abundant CVs they receive.
35 seconds to make your mark
When it comes to resume writing, you have to get them in quick! Being time poor and exceedingly busy, most recruiters only spend about 35 seconds on each CV or resume.
This means you have 35 seconds to convince a recruiter that it’s worth reading your CV further or, better still, getting you in for an interview.
You’ll achieve this if you:
Get to the point, but don’t be arrogant — this is a massive turn-off.
Don’t over-embellish: if you didn’t actually do something, don’t say you did — you willget found out.
Are concise: don’t cram your resume or CV full of interesting (to you) but ultimately irrelevant previous positions (like dog walker in 1982), achievements or interests (ferret racing is better kept to yourself).
But don’t see the minimalist approach as an opportunity to get fancy with the design of your CV.
Unless you actually are a designer of some sort, just use a clean template that clearly highlights why you’re the right person for the job. I once received a CV formatted like a crossword puzzle to list the person’s experience and education; clever perhaps, but the CV after that was easy to read and it was that person I called in for the interview.
To avoid the daunting task of resume writing from scratch each time you decide to change employment, you should get into the habit of updating your CV on a regular basis.
Need more help?
EzyLearn is in a great position to help you with your resume writing because we understand the employment market and the needs of employers. We also have team members with top quality resume writing skills and experience in creating quality resumes for administration and bookkeeping positions in particular. Other related blog posts: Finding a Job Using LinkedIn
Are you in business as a bookkeeper, tradesperson, retailer, trainer or real estate agent and want to stand out from the crowd? We can teach you the online marketing techniques to help you do just this! Check out what’s included in our comprehensive Social Media and Digital Marketing online training courses.
It’s often said that the majority of new businesses fail in the first year. Some people even go as far as to say that 90 percent of new businesses fail within their first twelve months of operation, but is this statement really true?
According to the Australian Bureau of Statistics it’s not. The number of new businesses that fail in the first twelve months is closer to 30 percent, or 3 out of every 10.
However, just because a business survives its first year or even the second or third, doesn’t necessarily mean it’s a successful one.
If a business isn’t able to pay the owner a wage that equaled or exceeded what they could have earned elsewhere as an employee, it’s not successful.
Further, if that business hasn’t generated a profit or positive cash flow, it’s still not successful.
Nor is a business a successful one if it hasn’t had enough working capital to service their debt, pay taxes and suppliers, and so forth.
New businesses are incredibly risky; and even if you have a great idea for a start-up or years of experience in your particular field of expertise, that doesn’t guarantee success.
Ensuring a new business is fail-safe requires a solid business plan. A business plan is like a road map—it shows you exactly what route to take in order to arrive at your destination—and without one you’re literally driving blind.
If the idea of writing a business plan seems a little daunting, you’re not alone. It’s one of the key components to running a successful business, but it’s also the most often overlooked, which is why we are now offering a Small Business Management course.
Among the subjects included in the course such as, researching the market and creating a marketing action plan, you will also learn how to write your very own roadmap to success—a business plan.
If you’re already employed as a bookkeeper or have graduated from our MYOB training course and starting your own business is something you’ve always dreamed of, then turn that dream into a reality.
Starting a bookkeeping business is one of the few low-risk start-up options, because a bookkeeping business, unlike other bricks and mortar businesses, can be operated from your home-office, eliminating many of the costly overheads that eat into your profits.
In fact, many of the overheads related to running a home-based bookkeeping business involve items you probably already have or are inexpensive to source, such as a laptop, mobile phone, internet connection, and a designated work-space.
But like any business, just because you have previous experience or the zeal to make your venture a success, doesn’t necessarily guarantee success—a business plan does. This should be the first thing you do.
Writing a business plan lays out things like what services you will offer, pricing structures, and how many customers you will need to turn a profit. But it also forces you to do market research and compare your services and prices with your competitors. Our Registered BAS Agent has created a bookkeeping business template that you can use if you start your bookkeeping business with us!
Market research, no matter how experienced you are in the industry, can help you establish a point-of-difference from other bookkeeping services and aid in the setting of your rates. Many small business courses like our Small Business Management course cover writing business plans as well as other strategies to ensure you manage your business efficiently.
Contacting an insurance broker to find out what kind of policy you will need should be your next port-of-call. Rather than calling many different insurance companies and going through their product disclosure statements yourself, a broker can do this for you and find the best policy at the best price.
You’ll also need to contact an accountant to discuss the ways to maximise your business tax deductions—this could also serve as a good way of drumming up some business, as many sole traders still take their shoeboxes full of receipts and bank statements to their accountant to sift through come tax-time!
It’s also wise to consider ways you can grow your business using low-cost marketing strategies. Many small-business owners make the mistake of thinking that as a small business, they don’t need to worry about marketing, leaving it to the big guys instead.
If you’ve been dreaming about one day starting your own bookkeeping business, then what are you waiting for? We now have the training, coaching and mentoring support to help you start a bookkeeping business and work from home as an independent contractor working your own chosen hours. We’ve teamed up with a registered BAS agent and business coach to compliment the small business management course and provide you with the support and training you need to start a bookkeeping business without joining a bookkeeping franchise and paying ongoing franchise fees.
Get a bookkeeping business plan created by a registered BAS agent and get started fast
Become a National Bookkeeping Licencee
If this is something that interests you explore the “Start a bookkeeping business” opportunity with National Bookkeeping and get franchise like support without loosing a percentage of every hour you work. We can help you succeed in your own bookkeeping business by give you the training you need.
National Bookkeeping is designed to help ordinary people start a bookkeeping business as an independent contractors working from home as a virtual assistant with the help and support of existing businesses.
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Xero is a great bookkeeping program for tradies who are on the go and using their phones (or a tablet) all the time. From receipts scanning to creating quotes and invoices, receiving payments and keeping track of project costs.
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