Startup Australia + 11 Steps to Launch Your Business
If You, Your Kids OR Your kids school should be involved
Get excited!! Cherly Mack tells us all about it – Bigger & Better. Here is what we can expect to get out of it;
- actionable insight
- unfunded growth
- nail it and scale it
- growth tactics
Have you got a little idea in the back of your mind that just won’t go away? These are the business ideas worth pursuing. Transitioning from daydreaming to action can be daunting but by taking things one-step at a time you can beat the fear that’s holding you back.
1. Become an expert in your industry
Researching the industry you want to enter is key to understanding what works and what doesn’t. The Directory of Government and Business Associations is a great place to start, if you’re researching industries inside Australia, and Trove has historical industry information. Try and become an expert in your field – knowledge is power.
2. Research the market
Get inside the minds of your customers. Learn their challenges – what they like, what they don’t like and why. This information can help you develop your product and service offering, and find your niche. Read how Innocent Drinks did this in the UK.
3. Join networking groups
Hearing about successes and challenges that other entrepreneurs have faced can help you recognise your own success and pick yourself back up in hard times. It can also help you spread the message about what your business does and the products and services you want to sell. Inspiring Rare Birds is a global hub that’s dedicated to supporting established entrepreneurs and women who want to start a business. They hold regular networking events, provide entrepreneurs with mentors, and produce resources and information to help start and grow businesses.
4. Write a business plan
Business plans are great for getting your thoughts on to paper and will help you set goals, expectations and timelines. Not only does a business plan map out growth or prepare for bumps in the road, it can help you secure investment. Once you have your plan nailed down, the next step is to write a strategy for how you’re going to reach these goals.
5. Work out your UVP
What is your unique value proposition? How do your products and services solve your customers’ problems or help their situation? Defining why your offerings have a competitive edge is an important step in ensuring they provide better value than the competition.
6. Improve your financial literacy
Financial literacy is an area where many entrepreneurs go wrong. Making sure you are financially savvy early on will start your business on the right foot. Accounting software such as Xero can empower you to manage the finances yourself.
7. Decide what skills you need inside the business
Most entrepreneurs are the sole owner of their companies, but many aspiring entrepreneurs also seek out co-founders to help get their ideas off the ground, especially if they need tech founders inside their businesses. This is where incubators, networking events and platforms such as LinkedIn can really help you form the necessary connections.
8. Create a marketing plan
A clear marketing strategy is all about getting your brand out into the world and helping your audiences understand your products and services. If successful, the plan will help you increase revenue. If marketing isn’t your forte, seek the help of an agency or consultant.
9. Join an incubator
Incubators bring entrepreneurs together in one physical location so they can network and access resources, such as mentoring, lawyers and accountants to help their companies grow. Often those running incubators have money to invest and can also help founders access venture capitalists and angel investors.
10. Nail the branding
The name and visual identity of your business is a hugely important part of differentiating yourself in the market. Getting the branding right can help you portray what your business is about in an instant and attract the right customers.
11. Get your brand online
Once you are happy with your brand name it’s time to register for your domain name and build your website. Budgets may be tight so consider a platform such as Squarespace. There are customisable templates that are simple to set up, and you can secure your domain name easily. As your business grows you can look at doing a full website build with the help of a developer.
Check out this and more at www.inspiringrarebirds.com
These steps are the foundations of your business journey. So what are you waiting for? Take the leap and get started.
Paul Towers gives us his startups of the week –
EasyShare -Pay your shop. office or indusetirial unit rent via credit card. Boost your cash flow.
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Topics from the week ;
Tech Sydney – TechSydney is an independent industry group led by a team of experienced proven
entrepreneurs who are determined to make this happen. They are now the highest funded non-profit crowd funded business in Aus
US fintech giant Acorns has attracted more than 100,000 users in Australia after launching locally in February.
After just three weeks the micro-investing platform had already racked up 50,000 users, and Acorns Australia managing director George Lucas says this continual growth as been in part thanks to interest from young Australians.
Acorns achieved global fame after actor-turned-tech investor Ashton Kutcher bought a significant stake in Acorns Grow. The Acorns app was then brought to Australia through a joint venture with Instreet Investment Limitd.
After witnessing the huge growth of the cannabis industry in the US once it began to be legalised across the country, Miller decided to create a startup, BuddingTech, to get on the front foot in Australia and pioneer a tech-approach to the market.
Despite the clear business opportunities, he says he is still motivated by helping his family member and other Australians fighting serious illnesses.
BuddingTech is aiming to create a range of digital solutions and resources to support the growth and legitimisation of the medical cannabis industry in Australia.
Tel-Aviv Accelerator Program
Earlier this week, StartUpIsrael reported that 10 Australian startups from Fintech and cyber security are joining a Tel-Aviv accelerator program.
Tel Aviv was pinpointed as one of five locations around the world the Australian government had selected to help incubate a greater sense of innovation and entrepreneurship. These “Landing Pad” locations were selected based on their status as a “global innovation hub” and their startup ecosystem. The cities include; San Francisco, Singapore, Berlin, Shanghai and Tel-Aviv.
As part of their activities in Israel in September, the participants will meet with Israeli startups, attend the DLD Tel Aviv innovation conference, meet with Israel-based multinationals and gain access to leaders in the venture capital industry and entrepreneurs.
Inspired by the Bionic ear & Cochlear an Australian success story, A physicist, an engineer and an entrepreneur join forces to create a bionic eye using diamonds and laser beams.
It sounds like science fiction, or the stuff of comic books, but the project is actually underway right now, right here in Ottawa and in Australia.
Shortly after moving to Ottawa, Australian physicist Stephen Prawer and his wife Michelle teamed up with engineer Michel Pigeon, a partnership that began as a chance encounter when Michelle took up winter running and met Pigeon on a run.
Australian physicist Steven Prawer says it’s his dream to one day look into the eyes of someone who can see thanks to his technology. (iBionics)
The three founders each brought something to the table, but were missing a business brain and a surgeon. That’s where entrepreneur Suzanne Grant and Dr. Flavio Rezende came in.
The result: international startup iBionics. The goal: to create diamond eye implants that can help restore sight to the blind.
To really fund the dream they will need around $100m. BUT in this area that is not a huge amount especially considering Cochlear is a $7b company
There’s nothing quite like witnessing a big fat Indian wedding . Indian weddings are an unparalleled experience in itself- almost like a four day festival of delicious food, meeting relatives, wearing your best outfits and shaking your leg to the choreographed dance sequences. And, soon JoinMyWedding.com, a website that allowed curious foreign tourists a chance to experience Indian weddings for a fee was born.
Thirty-three year old Australian startup mentor Orsi Parkanyi had the eureka moment when a friend told her that she was travelling to India to attend a wedding.
the Indian cricket captain has been signed up as the global brand ambassador for Secured Venture Capital, an Australia-based VC firm led by former Australian fast bowler Craig McDermott. Dhoni will be the face of Secured Venture Capital for Indian Subcontinent as the VC firm looks to invest in startups in the region and also scout for Indian investors for its fund.
Per the deal, Dhoni will also be the face of Craig McDermott International Cricket Academy (CMICA), which is a private cricket and educational sports academy based in Australia. The endorsement deal is worth between Rs 9-10 crore a year for five years.
Secured VC will also look at raising a fund from Indian HNIs and have a $100-million fund here. Secured Venture Capital funds seed and late stage technology entrepreneurs in Australia
Carbon neutral postage startup Sendle is continuing to take on Australia Post with the launch of a new parcel delivery option that aims at to save small businesses both time and money.
From today, small businesses can take advantage of the Sendle Satchels service, which allows for A4 500g satchels can be individually picked up and delivered nationally for $6.95.
The parcel delivery startup claims this is cheaper than lining up at a Post Office to ship packages of the same size, unless 500g satchels are pre-purchased in bulk.
A pack of 10 small 500g satchels from Australia Post costs $78.40, according to the Australia Post website. This equates to $7.84 per satchel.
More than 10,000 Australian kids have set a new world record for number of children coding simultaneously at the nationwide Moonhack event last night.
Moonhack, run by non-profit Code Club Australia, was part of the organisation’s national campaign to improve digital literacy, and was held on the anniversary of the Apollo 11 moon landing.
is deploying a wireless network promising fibre-like download speeds to suburban users. Starting in Melbourne’s inner suburbs with plans to extend to other state capitals, Lightning Broadband is connecting homes and businesses via 5.8 GHz microwave links capable of delivering 100 Mbps download speeds
a Sydney-based video production start-up with a A$7 million ($5.2 million) valuation has closed a A$1 million ($748,000) funding round with an investment from ASX-listed advertising agency AdCorp, who possess a 15 per cent stake in the startup venture.
Shootsta provides large companies with training, along with equipment enabling them to shoot their own videos, after which the footage is then sent back to the startup for post-production edits.
the Melbourne-based energy spend management platform, has secured A$7 million ($5.24 million) in funding and listed itself on the Australian Securities Exchange (ASE) on Wednesday.
BidEnergy is a cloud-based subscription service that uses technology to change the way it manages power consumption for users by placing the onus for business back on to the suppliers who bid for the work.
Sydney-based startup venture EzyCollect, which is meant to help small and medium enterprises (SMEs) get paid quickly and smoothly, has closed an oversubscribed seed round valued at A$1.25 million ($935,000), with plans to expand across Australia.
The venture offers cloud-based platform to help business with debt colleciton, via a combination of automated follow-up emails, SMS messages and dispute management.