Starting a business

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Above: men pull a train by hand, probably not a good business idea.

 

Starting a business can be daunting, with so many components factoring together to create a successful business, one can be left wondering where to start and what really needs to be done.

We have compiled a list of key components that every business new or existing should have in place to help ensure success and longevity. There are also a bunch of links that you might also find useful. 

Before you start a Business - Do you have what it takes?
Although you hear rumours about people that work for themselves doing all sorts of crazy hours, that's not entirely true... probably only 95% true. It won't be true for eternity either, once your business has built some momentum, life will get easier. Try to build automation into your business, so you don't become a cog in a machine. You need to make it to the end of the SWOT analysis phase to really help drive the decision around whether you start your business, look for another idea or work for someone else. SWOT was the clarity we needed to make the call. Be prepared, business is harder than you think but also really rewarding at the same time. 

 

Other links you might find useful are:

 

 

For all Australian based businesses - business.govt.au

In addition, your Bank / Financial Institute may also have some useful information and/or templates -

ANZ - Start-up business guide 
ASB - Setting up your business
BNZ - Start-up Business Edge 
Westpac - Business Resource Centre 

 

Additional information

Core areas to focus on and drive success in your business are:

  • Leadership
  • Offering
  • Market
  • Processes
  • Capital
  • Governance

The above points are generic points but highlighted to us by ICEHOUSE - thanks.

 

Videos about starting a business

Some tips from the IRD on the different type of business structures. If you have an accountant, ask them for help or to confirm your thoughts on what type of business you need, or ask an accountant friend!

Couple pointers from the ANZ below. We use the BNZ they have also been very helpful.

I'm not really sure the below video is titled correctly, but it represents the other side of the argument, which is, jump in the deep end and be adaptable. 

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