How to Create A Scalable Startup Business

Investors love to put money into business’s that are proving to be a scalable startup or ready to be scaled. But what does it really mean? It means that your start up has the potential to grow and multiply the revenues faster than the cost. Here are some informative tips on building a scalable start up, which is sure to give you the launch pad you require: Have a Vision For Your Scalable Startup Don’t think about catering to a few hundred to outbid your cost and earn profit that will keep you afloat. Have a vision. Think beyond local boundaries and about catering to potential customers worldwide. This requires having an out-of-the-box approach. A Scalable Startup Needs To Solve A BIG Problem Identify a problem or a market niche. Carry out thorough market research to find out the market gaps and providing value. Whilst planning your scalable startup, aim to provide innovative solutions to a problem to create your own competitive edge. Realistic Assumptions Investors like justifiable assumptions and how they link with profits. It is essential to base your financial projections on realistic assumptions and be very clear on your goals and means of achieving them. Customer Demographics It’s paramount to your scalable startup that you identify the customer base that you plan to capture. Their age, spending patterns and how you will multiply you customer base with your business. Quantifying the customer demographics will help clear the picture of how you plan to make revenue and how you will outgrow your estimated figures. Build a Strong Team Show that you have the skill set it takes...

4 Stage Online Business Growth Cycle

Online Business Growth Cycles Your online business will go through periods of growth just like us, how we manage that, is what direction it takes and the rewards your online business will achieve.  The business growth cycle will reach each period with success & continue on into eternity should it follow some simple principles that will shape how each cycle progresses. The online business growth cycle can be best looked at broken up into four periods. These being the start-up, launch, stabilisation and expansion. Start-up Starting a new online business requires a large amount of planning and research. It’s important that you research your intended market, your competitors & initial costs. This first stage is pivotal in reaching your intended business growth targets. A good way of identifying the potential  viability and capabilities is to perform a SWOT analysis, acronym for Strengths, Weaknesses, Opportunities and Threats. It’s at this point most online businesses fail. Planning provides a map of the journey your online business will take in its most vulnerable cycle. It’s quite easy to get overwhelmed with all the research, tools and advice available, however start-up is a high energy cycle and what’s required by you is the right focus for these objectives. Launch You have made the leap of faith & your  venture is up and running. All your marketing and advertising efforts are showing signs of good customer acquisition,  sales and rapid growth. This cycle can present new ventures with cash flow shortage so be sure to keep costs to a minimum. Cutting costs from the get go will maximise your cash flow and keep the...

Startup Capital For Your Business – How To Choose

Choosing and acquiring the right mix of startup capital for your business can be daunting! Raising finance for your business start up is a crucial aspect to cover. As an owner its imperative your very clear about your options and approach. Calculate exactly the amount of startup capital you need to launch and run your business. There is an estimated 2.2 million small businesses in Australia alone. Around 80% of these acquire their startup capital funding through bank finance, credit cards and other lines of credit. Capital refers to the money which will finance your business and there are two types of capital: Debt and Equity. Some points you should consider before opting to choose are: Do you have a good personal credit rating or other lines of credit at your disposal? Do you have close friends or family who are willing to invest? Do you have money of your own to invest in the business? Do you own any assets which are required in running the business? Have you correctly estimated the funding requirement? Equity Investment With equity investment you can make use of investor’s money in return of extending them a share in the business. You need to be careful about how much share you are willing to give up. If you sell 51% of your shares, the control of the business is lost. Debt financing Debt refers to the source of funding which you acquire having a rate of interest applicable on it. You need to pay back the borrowed amount plus the interest which applies to it. Grants Startup capital can be approved by applying for government grants....

7 Ways to Starting A Business Without A Loan

You are starting a business and you don’t want to obtain a loan for financing it? Here are some ideas to finance your startup using other means: Providing Consultancy Many products are developed while giving a consultancy. Being a part of the industry gives an insight of its problems and niches which otherwise you may not be able to see. So, blend your product with consultancy and let that pay for your startup. Approaching Friends and Family There is no one in this world that trusts you more than your friends and family. These people can help you no matter, because they believe in you. That is what you require in the initial stages. There support can be a huge help both in monetary and non monetary terms. Participating in Competitions There are many platforms available for entrepreneurs to take part and benefit from. Business plan competitions of various types keep taking place. Keep a look out for those and participate with the motivation to win. These competitions are there to promote new ventures and provide winners with the initial kick-start money that they need. Clearing Clutter Before diving into starting your business, make space and set your priorities right. Do away with all the things you do not need and are unnecessarily lying around. This will not only gain you some cash but also provide with the necessary space required for setting a workplace. Monetising This may not apply to every business or startup. But, depending on how creative you can get, try to monetize on every effort that you are making. Maybe your prototype product could be...

The Basics Of A Business Plan

Understand Why It Is So Important for Your Start-up Simply put, a business plan is a strategy and blueprint to establish and run your business with. It is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. It is important for a number of reasons: To attract key employees, attain new business, and to deal with suppliers To convey your vision to investors for obtaining funds To help you understand and manage your company better What Constitutes a Quality Business Plan? A business plan includes your goals, what you wish to achieve, and how you will achieve it. The strategies you will use to accomplish your goals and objectives. Potential problems that you may face and how you will solve them. The organisational structure and lastly, the amount of finance you require for your start-up and the means to acquire it. Three Basic Parts To put together a good business plan, consider breaking it into three primary parts: Business concept section: In this part you will discuss the industry and then move onto the organisational structure, your product and how you plan to make it successful. It may also include your vision and mission statement, like what you wish to achieve by your business and its scope in the broader sense. Marketplace section: In this part of the plan, write about your potential customers and provide an analysis: who they are, where they are, why they will buy your product and so...