Evolving Stages of Business – Growing with you

You have a great idea or a hobby which you think can earn you some money. Excitement is in the air, plenty of people support your idea but plenty cannot see the vision for the future and are quick to point out the risks and tell you why it will not succeed.

At this stage you need to have a clear idea of your business. You will need to be flexible as you evolve but in the short term you need solid idea of your next steps.

It is important to know:

• Who are your customers – It does not have to be everyone
• Why are you different to other offering a comparable service
• What is the worst thing that can happen, how much you prepared to risk.
• How to get your message out to the customers

You have put everything on the line. Now the way you going to feed yourself is thought your new business. Often you can feel isolated as everyone one else looks to be doing it easy. Cash Flow is the number 1 concern. Not only doing work but how to earn the money but how to collect to money.

• How much money do you need to make a profit.
• What trading terms

Business has grown, suddenly you feel like you have not time. Money is coming in but seem to go out just as quickly. It is time to bring someone onboard who can else the load and allow you to expand.

• How do you find the right person?
• How much do you pay them?
• How do we manage Payrun, PAYG and Superannuation?

The business gets to a point where they can run without you. It allows you to focus on the big picture making larger strategic decisions.

Trust is the most important factor knowing that you have created an organisation structure where everyone one know what is expected and is confident in the way the company thinks and acts.