Starting a Business in 2020
Starting a business in 2020 might seem like a daunting task, but instead, if you are in Australia, it might not be all that complicated. Not only can you register as a sole trader very quickly, Australia currently ranks 5th on the global entrepreneurship index. At the same time, we are also ranking 7 on the ease of starting a business!
Not only is Australia a great place to start a small business, but they are also very welcoming to businesses. We highly recommend looking at the free resources available by the Victorian Government; you can use the links below
Start with The Basics
If you are like many, the information on the Victorian Business page might seem frightening, but it doesn’t have to be. The way it should be is from starting from leveraging your expertise in a product or service which you can charge your clients.
Questions you should ask
- Is there a market for this?
- Are others in the market?
- What platforms should I use to sell to my customers?
- Are there any free networks regarding your industry?
- Are other people selling it?”
Tasks You Should Do
- Clear Idea of what you want your business to be
- Write a plan
- Make a Marketing Plan
- Research Your Industry
Start With Digital
The pandemic has forced many businesses to invest in digital transformation, and now you are in a position of starting digitally mature! Jumping ahead of many can provide you nimbleness your competitors will be envious of, as you have a competitive advantage which they are unable to develop overnight. If you have had the opportunity to still connect with others during the pandemic, you would have a chance of a ‘new’ virtual experience over the past few months.
Proactive Learning: To sell online, you will need to consider creating an eCommerce website or shop for your business. You can try Shopify or Woocommerce as popular options. If you would like specific instructions, reach out to me on Instagram or contact us, and we will get back to you.
As digital matures, consumers are expecting more transparency across companies as the concerns of privacy grows. It has never been more critical to have information your consumers are looking for easily accessed. As the foundational pillar of transparency is to ensure every pain point is addressed by letting your consumers having everything they need to make an informed decision.
Give Buyers Control
As competition becomes fierce in all industries as new entrants enter each year, you may already be competing in an oversaturated market. It is up to you to decide how you communicate your offerings to your customer. In most situations, you should start considering how to give your buyers complete control of their buying decision, whether or not that means to make transparent pricing, options they can choose from, but essentially giving them the power.