There’s an age-old saying ‘Failing to plan, is planning to fail’. This applies in so many areas of our lives, but in particularly is extremely important when starting a business. Many small businesses fail because they simply don’t set the solid foundations from the beginning. Developing a business plan should be the first step in your planning journey. Planning is simply deciding in advance; what to do, how to do it, when to do it, who will do it and what resources will be involved. Your business plan should be a documented set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period of time.
When writing your business plan you should consider;
- Will you want to expand your business, be more competitive in your industry or achieve certain goals?
- Who will be your targeted audience?
- How will you market your product/service?
- How will you obtain finance?
- What business structure will best suit your business?
- Will you operate as an independent contractor?
Setting up your own business is an exciting prospect, but it takes more than just a good idea to start a business. Operating a business is not just about working for yourself, it’s also about having the necessary management skills, industry experience, technical skills, finance and of course long term vision to grow and succeed. Make sure you have the solid foundations in place to give your business the best start.
If you would like to learn more about starting your own business, register now for our FREE small business workshop, scheduled for Tuesday 5th September @5.30pm.
Register now, click on the link below –
Running a small business has its challenges. Everything from human resources issues to making sure your business has secure cash flow. Wouldn’t it be great if there was a software that could tell you everything you needed to know about your finances.
We are finding more and more clients are turning to Xero Accounting Software. Why do our clients love Xero;
- Online accounting and payroll in one
- Easy online invoicing and quotes help reduce debtor days
- Bank statement lines are automatically fed into your Xero account, making reconciliation a breeze
- No need to install or update software
- Collaborate in real-time with your advisors
- Bank Level Security
- Dashboard give users a clear financial overview
- Available anytime, on any device, anywhere you’re online
Click on the image below to learn how Aaron Berson, manager of New York based company EisnerAmper, uses Xero Accounting Software to deliver efficiencies in his business, and for Aaron that means less time on data entry and more time on providing value to his clients.
If you would like to learn more about how Xero can help you in your business please contact Kade Tronson, our Xero expert at McMahon Osborne Group.
Contact Kade@mcmahonosborne.com.au or call Kade on (03) 9744 7144.
Wealth creation must be a long term commitment. Like a healthy diet, it must become something ingrained, rather than a flash in the pan. A well balanced and good tasting financial diet is where you want to be. Consider setting out short term and long term goals to help measure your success. Keep these goals achievable, or risk losing drive and ambition. An understanding of your current net worth and the avenues available to create additional wealth is too, very important. Knowing what you are worth requires a multi faceted understanding of your finances and the things that effect your finances. Once you have this understanding, you can look at how affecting certain parameters can change your wealth creation – for example changing to a higher paying job, should result in greater wealth creation if it is accompanied by saving and investing. It’s up to you to create your wealth, no one will care for your wealth like you do. To assist you with planning your wealth creation strategy we have developed an 11 step personal wealth creation checklist.
Simply download our 11 steps to personal wealth creation checklist and get started TODAY
If you would like to learn more about how we can assist you in developing your personal wealth plan, please email email@example.com today to make your appointment.