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Posted by Adam Driscoll on

Starting your own business? 6 more common questions answered

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Just the sound of the phrase “starting your own business” conjures up pictures in the mind of the entrepreneur. Money, freedom, and fulfilment are just some of the many things why lots of individuals decide to start their own business whether online or brick-and-mortar.

Starting your own business is an opportunity available to millions of Australians. Though there are a bunch of benefits you can get by becoming an entrepreneur, there also come liabilities. And as a wise business man, you need to consider not only the pros, but also the cons of starting a business.

Freedom is one of the reasons why many quit their jobs and decide to become their own boss by starting a small business. For many of us, freedom is the most important thing. When you have freedom, and it is not only the platform from which all other business benefits spring from, it is the greatest single benefit.

Money is another reason why a lot want to become an entrepreneur. More money has been made and can be made by self-directed enterprise than any other way of work. If you need proof of this, look to history.

Finally, entrepreneurship brings fulfilment – one great reason why entrepreneurship is a popular option. While running a business can bring huge financial rewards, deeper and more meaningful are the personal development gains that come from it.

However, like we’ve said, starting a business can be tough. If you want to know how to overcome these challenges, read this: http://www.flyingsolo.com.au/startup/business-start-up/starting-your-own-business-6-common-questions-answered

Posted by Adam Driscoll on

Self-employed ‘need more support’

Self employment is a type of career where the person is employed by one’s self. It identifies an individual who manages a company of her own or hires someone to oversee the day to day operations of your online business.

Another distinct quality of self employment is that these jobs are for those who don’t receive paid salary from another person or company.

One of the reasons people choose self-employed jobs is lack of sustainable jobs. Lack of employment may drive one to start his or her small business, in other words become self-employed. Another common reason why many choose self-employment is flexibility. People will go for self-employed work opportunities so as to become free. Self-employed people do not rely on others for his or her living.

Another aspect in self employment is increased wealth. It offers a possibility to increase their prosperity. Being your own personal boss allows you to decide how much money you can make in a month as opposed to salaried people who earn a standard salary monthly. Others create a part-time self employed job to bolster their income.

There are many other big reasons why people opt self employment rather than working for someone else. However, self employed individuals should get more support in running their businesses, says an article published by BBC New Australia.

Read the full article at: http://www.bbc.com/news/business-35572817

Posted by Adam Driscoll on

‘Next Level’ Business Growth Requires These 3 Steps

The economic environment nowadays is ripe for entrepreneurship. If you have wanted to start a business the time has never been better. Opportunities for small businesses start to arise especially whenever job loss occurs.

Thoughtful strategy and commitment are the two most important things required when you decide to start your own small business. The desire doesn’t create success; the commitment makes the success happen. The patience for the commitment is crucial.

As a business owner, the topic about growing a small business should be a topic that you should be interested in. If you want to grow your business, you need to do a ton of planning. All successful entrepreneurs take planning very seriously.

Small business systems are critical to growing a business. If you’re holding regular planning sessions like board meetings, you need to have systems get consistent results from your actions. However, these systems normally take a lot of time to develop that is why you should have patience.

Growing a business is a process and every entrepreneur and businessman goes through it. For some companies, growth is slower but it can dramatically grow in time with proper planning. On the other hand, there are some that have started their company and have experienced great initial success but eventually their growth starts to slow.

To learn more about the tips on how to grow your business, you should check out this article posted at YFS Magazine.

You can read the full article here: http://yfsmagazine.com/2015/08/26/next-level-business-growth-requires-these-3-steps

Posted by Adam Driscoll on

Playboy tycoon Eike Batista files for bankruptcy in Brazil

Bankruptcy can happen to any business or a family and the sad truth is that most people do not see this coming until it is too late. Obviously, bankruptcy is a result of poor financial decisions over a long time that could have accumulated into a huge mess. In the simpler sense, it is overspending more than you earn.

There are many reasons or financial crises that could lead to the edge of bankruptcy. And to the Brazilian billionaire and CEO of EBX Group Eike Batista, being a symbol of Brazil’s economic boom is not an excuse for being bankrupted. Recently, he filed a bankruptcy protection for his OGX Oil Company.

According to a report published by Perth Now, Eike Batista filed for bankruptcy protection for his OGX Petroleo e Gas Participacoes SA, part of his EBX Group conglomerate before a Rio de Janeiro state court.

For more story about this bankruptcy case, read the full article here: http://www.perthnow.com.au/business/companies/playboy-tycoon-eike-batista-files-for-bankruptcy-in-brazil/story-fnhohek5-1226750886293

Posted by Adam Driscoll on

Six questions start-ups must ask

Unlike larger organisations, start-ups can often flourish in a challenging economic condition. That’s because they are more agile and flexible in reacting to market conditions. In addition to, they are also more motivated to bring their products and services to market quickly. On the other hand, large companies are usually slower to innovate than smaller companies with less internal hierarchy because of their complex structure.

Start-ups are also best when the economy is down because people are desperate for work, so you may snag some truly talented employees who might never have given your start up business a second look a few years ago.

However, since most small business owners simply do not have the skill set necessary to make this work, it is very risky to invest for an individual to invest in their own money in a start-up company.

Luckily, you can check out an article published at WAtoday My Small Businesses. The article can help you understand how to fight against the risks of running a business start-up. It features 6 questions start-ups should ask.

You can find the full article here:  http://www.watoday.com.au/small-business/startup/six-questions-startups-must-ask-20130619-2oiqe.html

Posted by Adam Driscoll on

Pricing strategies for small businesses

Product pricing refers to the decisions you make to meet your marketing objectives within a certain market. Price is part of the marketing mix which includes place, promotion, product and research. The market size, competition, buyer behaviour, company objectives, and the company’s product portfolio are the main factors that affect the product pricing. Businesses know that product pricing would be a standard part of the product development definition. However, too often they skip over it because it seems too hard to do.

The value of product and service pricing can never be under-stressed. Numerous experts have written articles providing templates on computing the “correct” price for almost all situations. However, the dynamic changes in the industries and markets make setting up the prices difficult. No matter how your product is priced today, there is a good chance that it could be priced much better if only you knew how to do it

An article posted by Gayle Bryant at WAtoday can help you with this important subject of your small business. The article talks about pricing strategies you can use for your own business.

You can check out the full article here: http://www.watoday.com.au/small-business/managing/pricing-strategies-for-small-businesses-20130605-2npk5.html

Posted by Adam Driscoll on

Tips for having difficult conversations at work

Being the leader of a team, there are several issues and topics that might need to be discussed in order to give people professional feedback. There are certain issues such as someone’s hygiene, punctuality, work practices, interpersonal skills or inappropriate language that needs to be corrected. So, if you are responsible for leading or managing people, there is a good chance that one day you will need to hold a difficult conversation.

One of the most important skills for a leader to have is to conduct difficult conversations with employees effectively. However, the most challenging conversations seem to be the ones involving personal habits; difficult conversations come in all shapes and sizes. Handling them effectively means you will need to come up with clever, creative, and direct solutions.

The problem is that most people avoid having difficult conversations. But, if you are able to have the courage to do them, as well as the skills to conduct them effectively, you’ll be able to overcome that issue, your team will respect you, and you will carry out for personal and business goals.

Lynda McAlary-Smith published an interesting article at WAtoday can help you with your conversational problems at work. The article teaches some tips on how you can overcome difficult conversations.

Read more at: http://www.watoday.com.au/small-business/growing/tips-for-having-difficult-conversations-at-work-20130718-2q5q6.html

Posted by Adam Driscoll on

Locating your Business at Home

A lot of people simply do not have the time to devote to a regular job due to geographic restraints or family commitments. So, most of these people opt to get their laptops and start working online at their homes.

Over the last few years working from home has become a lot more popular. The advent of internet and the improvements in technology have allowed so many new businesses to operate solely in the online domain. This advancement also helps to keep overheads to a minimum since you do not have to spend for your transportation, clothing, rent, etc.

A lot of people do it because for them it is easier and more convenient because they can do all the things that they want at their own pace and time. Moreover, they don’t have to leave their homes and go to the office or work place.

If you are planning to operate your own business at home, you can check out an article posted at Small Business Development Corporation, Western Australia for more information. The article can help you understand the pros and cons of operating business at home, as well the legal matters you need to take care of.

Read more: http://www.smallbusiness.wa.gov.au/locating-your-business-at-home

Posted by Adam Driscoll on

Selection and Recruitment

We cannot deny the fact that the success of any firm depends on the quality of human resources or talents in that firm. Therefore, the most important job of a Human Resources (HR) officer is the selection and hiring/recruitment of employees. When there is an opening in a firm, it is always very important for the HR department to all the applicants that can fit perfectly into certain positions.

A human resources expert needs to be very sure when hiring the right staff without compromising anything from the onset. While sourcing for talents, you should also put check if these staff can deliver what you expect. Furthermore, you should know what their strengths and weaknesses are.

A candidate’s competency can be seen in his skills, educational qualifications, knowledge, abilities, achievements, strengths, social roles, self image, attitudes and goals.

An article published at smallbusiness.wa.gov.au can help you with this type of Human Resources task. The article talks about the basic steps you can follow for your selection and recruitment process for you to be able to get the best persons for the job you need.

You can check out the full article here: http://www.smallbusiness.wa.gov.au/selection-and-recruitment

Posted by Adam Driscoll on

What Australians look for in their bosses

Becoming a good boss is not something that takes overnight because it is an ongoing learning process with struggles along the way. However, once you are able to achieve a perfect balance among the needs of your employees, your business goals and personal needs, you know that you are on your way to becoming an effective and good employer.

Finding that balance is a challenge task, but there are some techniques you can do to keep employees happy; you can motivate them to do their best. Building a spirit of teamwork can be a great move. Another great way to be perceived as a good boss is to show a professional side. It is good to find ways to connect with employees; let them be inspired by what you do and how you act.

The next thing you can do is to know what they expect from you. An article posted at news.com.au can help you know what your employees want you to be. The article talks about what Australians look for their bosses.

You can check out the full article here: http://www.news.com.au/business/your-business/what-australians-look-for-in-their-bosses/story-fn9evb64-1226664972900