New Business Start Up - The essential for starting a business

The Essentials for Starting a Business

The Essentials for Starting a Business

This guide has been crafted for the new startups, for hobbyists ready to step it up a notch or even for the small business who may have jumped right in and didn’t put too many plans in place – after all, it is never too late to add some structure to your business plans and steer your dreams and business to success. 

Ideally, you would already be dreaming about your business idea and you know what you want to deliver. You now just need some stepping stones to put everything into action.

The Essentials for Starting a Business - Business owner in planning stage

1. Dream, create and fall in love

The best way to make a business successful is to LOVE what you do. When starting a business there is A LOT of sacrificing, long days and hard nights, and tough times. Having some portion of love, excitement and joy in there, will definitely, help you keep going and getting back along the way. 

Here is where your homework begins, and this is where you need to remember that you do actually love what you do. Because these steps are going to make sure the rest of the world gets to see it, so hang in there and do the work – it’ll be worth it!

2. Creating a Business Plan

Recently the Australian Government have upped their game. They have updated and released a whole bunch of free and important resources for the startups, to ensure you are geared for success. 

So, you can take the eye-roll back and get ready to flesh out your dream and turn it into reality. Here is the template for a Business Plan.

3. Work out a Budget

As part of your planning process, create a budget that estimates your revenue, costs, and startup expenses.

I know, I know, where do you possibly start with this one, well rest assured there are more free resources that the government are offering! Check out their free online calculator here to help determine your start-up cost. There is a little bit of homework required here too, but trust me it is all worth it.

4. Select the Right Location

For some, this could be a physical location and for others, it will be more online and working from home or public places depending on your unique dream. 

However, a couple of tips here is to check with your Local Council to ensure you can offer your business or services from the chosen location. If you want to operate from home, make sure you have a chat with your Insurer or Landlord to make sure they too are comfortable with this.

5. Implement a Marketing Strategy

This step is arguably the most important step in the process. If you can market your products, services or business correctly, you are destined for success. We are calling upon the trustee government again here, they have created a Marketing Plan template, which includes the all-important SWOT analysis (strengths, Weaknesses, Opportunities and Threats), and will make you look into your competitors and find what sets you apart. It will help you determine your unique selling point and your business goals. This document will become your bible, it is one you will refer back to multiple times and grow with your business and dreams.

6. Last but not least - Insurance

After all this hard work, you don’t want to risk losing it all from one little mistake. At AUZi, we specialise in small business insurance. Our main focus is on Professional Indemnity and Liability Insurance. We have taken the time to create policies targeted to set niches such as Soap and Candle Makers and Handmade Crafts, right through Dance Teachers, Natural therapists and I.T consultants

The best part is, we deliver insurance differently. You can obtain a quote and buy insurance online in a matter of minutes – honestly all before you finish your morning coffee.

By following these tips and partnering with AUZi Insurance for comprehensive coverage, you can confidently start and grow your breathwork practice in the dynamic Australian wellness landscape.