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Beginner Business: 5 Things You Need To Know

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Starting a new business can be a daunting process. With so many different aspects of your new venture to consider, it can be easy to get overwhelmed so it’s important to stay organised and in control. When you are starting a new business, you need to ensure that you have a clear plan in place from the very beginning to stay on track towards your goals and ensure that you do everything necessary to get your startup off the ground successfully.

The day you finally open your doors to the public, will likely be one of the most memorable and exciting days of your working life. However, to get there, you will need to ensure that you follow the proper steps. Starting a small business is no easy task and you will need to get yourself up to speed with marketing, bookkeeping, single touch payroll, staff management and all of the other components of your business operations to ensure that your new venture has every chance of succeeding when you launch.

Follow the five steps outlined below that new businesses need to follow to start a new business in Australia.

Conduct Thorough Research

Before you move forward with anything, you need to be sure that you conduct thorough market research. Knowledge is power and the more information you can gather the more informed your decision-making will be. Consider if there is a demand for your offerings in the area you will be serving, who your customer is and where the best location is for your new business premises. You will also need to pay close attention to what the competition is doing to understand how you can stand out and gain an edge over your competitors.

Create An Effective Business Plan

Having a well-thought-out and well-written business plan is crucial in securing funding for your new business. Whether you go to a bank or a private investor, you will need to show potential investors how your business is going to be profitable. Your business plan will also act as a roadmap to help guide you on your journey as your business evolves. Remember, as your goals or circumstances change, you should update your business plan to reflect what is happening so you always have a document you can rely on for guidance, especially through the early stages of your startup.

Register Your Business

Registering for an Australian Business Number (ABN) in Australia is free of charge. The Australian government makes it easy for you to apply for your ABN and tax registrations such as PAYG, GST and FBT all from the same portal. The process can be completed in just a few minutes online and there is a lot of information on the Business Registration website to help you through to complete the necessary forms.

Secure Funding

Depending on the type of business that you are starting, you might need a little, or a lot, of capital to get your startup going. For example, a web designer working from home will need very little in the way of upfront investment, while an entrepreneur opening a new restaurant will need to pay for premises, supplies, staff, kitchen equipment, and much more. There are many ways that you can secure funding for your startup in Australia. The government offers various grants and funding programs that you may be eligible for, you can apply for a bank loan, look for private investment or use your personal savings. Whichever route you choose to go, you will need to ensure your startup is adequately funded to ensure you are financially secure moving forward.

Market Your Business And Prepare For Your Launch

Once you have secured funding, you will need to start marketing your business and prepare for your grand opening. Launching your business is an exciting moment for every entrepreneur. However, with the right preparation, you can ensure that your business is set up for success and that you launch your new venture in style.

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Investment

What to Remember When Buying a House in 2021

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Purchasing a property is a life goal that many people worldwide have. Dreaming of how they will decorate the interior to the ideal location, some people spend their whole lives dreaming of these moments.  

While that is very well the case, some things should be remembered when going through the purchasing process. Whether you are buying your first home or are purchasing another to add to the portfolio, read on to find out a little more.  

Be Aware of Your Finances 

You need financial stability to buy a property. Make note of your available finances as early as possible. This enables you to know what your budget is and to view properties that fit within this budget.  

Ensure you do not end up in financial difficulty; know your credit score before signing any paperwork. The higher your credit score, the lower your mortgage interest rate.  

Conduct financial planning with services provided by the likes of The Home Loan Expert. Minimize how much you will be paying back over time by using services like these. Save yourself thousands of dollars.  

Make a note of all costs associated with buying a house. This includes the price of the property itself but extends to include real estate fees and associated costs.  

Choose a Suitable Location 

Decide on where you want to live before launching headfirst into the buying process. Understand the pros and cons of the areas you have selected.  

You want to be happy in your new home. This process is the ideal way of distinguishing this.  

Are you purchasing a home as a parent? Consider the location of your property for ferrying your children to and from school.  

Compare the distance you will be commuting to get to your place of work also. Know this information as soon as possible to minimize any obstacles forming in the future.  

Choose a location that is within budget and which provides you with the amenities you desire. Evaluate how safe an area is with online resources.  

The safety of an area impacts the cost of a property. You do not want to be losing value on your home. Ensure the property you are purchasing is safe to protect your family and belongings.  

Conduct Relevant Checks 

Ensure you analyze the interior of the property thoroughly. Highlight any potential or existing issues you notice and distinguish what needs to be done to solve these issues.  

Check any renovations on the property are up to date. Ensure there are permits available. This ensures the property renovations were appropriately conducted. It also protects you in the future if you choose to sell the property.  

Conduct checks on water and electricity supplies to ascertain they are in full working order. Older homes might not be compliant with modern wiring systems and building codes. This is something you want to avoid, for it could be costly should something go wrong, and the system needs rewiring.  

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E-Commerce

Is it Promising to Study E-Commerce For Students of the UK?

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E-commerce, is selling or buying services or goods via the internet. And the transfer of data and money that happens during buying or selling is also known as internet commerce or electronic commerce. In recent years, e-commerce has become very popular, almost 96% of the population in the UK uses the internet, and 86% of those people are expected to make at least one purchase through the internet in a year. Making e-commerce careers extremely attractive to young university students. 

Everyone can benefit from a career in eCommerce. Starting from independent freelancers, small businesses, and even large corporations. You surely have heard someone say, “you need to check this online clothing store” or “this essay writing service is a must” basically, eCommerce has endless opportunities. You can find many retail stores that sell directly to clients or wholesales that sell to retailers, subscription services, or digital products, and even the best essay writing services and online courses are purchased and paid online. 

The development of the eCommerce market is amazing, and the United Kingdom has the largest e-commerce market in Europe, with total projected revenue of 200 million euros. Although the eCommerce market also plays an important part in the broader economy of the United Kingdom. Almost 8% of the GDP is attributable to eCommerce, and that number is expected to rise, as more and more retailers shift towards online retail stores. Also, selling services or products online has a lower cost than the traditional methods have. Basically, e-commerce reduces the variable and fixed cost, and people are able to get their services and products for a lower price. These are some of the many reasons why teachers implement lessons of e-commerce in education. 

There are five e-commerce perspectives, B2B, B2C, C2C, C2B, and D2C. 

  • B2B or Business to Business refers to one business selling services or products to another business, like a wholesaler and a retailer or manufacturer and wholesaler. This kind of e-commerce usually involves software, raw materials, or combined products. 
  • B2C or Business to Consumer is the most popular model of e-commerce. This means that the sale is taking place between a consumer and a business, like when you buy a dress from an online store. 
  • C2C or Consumer to Consumer happens when a service or product is sold from a consumer to another consumer, this kind of sale takes place on platforms such as Fiver, AliExpress, eBay, etc.
  • C2B or Consumer to Business happens when an individual sells their product or services to a business. This encompasses photographers, freelance writers, consultants, etc. 
  • D2C or Direct to a consumer is the newest model of e-commerce. This refers to a brand that is directly selling to customers without going through retailers, wholesalers, or distributors. The most popular D2C items are the sold subscriptions via platforms such as Facebook, Instagram, Snapchat, Pinterest, etc. 

And all of them bring many benefits. Some of the biggest ones are the simple and faster consumption that allows a quick delivery, easy returns, and 24-hour sales. The companies are no longer restricted by physical or geographical barriers, and consumers from all around the world can shop on any e-commerce site. It offers a personalized experience to the customers, and most importantly, it requires minimal expenses to launch such a store. 

However, to be able to succeed, e-commerce jobs require skills such as software development, SEO, Data analytics, Writing skills, Design, Artificial intelligence, etc. 

Conclusion

With that said, it is promising to study e-commerce because it opens many career doors. To start with e-commerce, you can work as a Marketing specialist, SEO content writer, Administrative assistant, etc., and once you get the needed experience, you can work as a User experience designer, Community builder, Developer, Business analyst, etc. basically the options are endless because e-commerce powers the future of many businesses.

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Work

How to Stay Productive While Working from Home

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Whether you’ve been working from home for years or just started using your home office recently as a result of the coronavirus pandemic, it’s always a good idea to figure out ways to improve your productivity. There are plenty of benefits that come with working from home, but there are also some unique challenges that come with the territory. Below, find six simple and effective tips that will increase your productivity and improve the work-from-home experience!

Stick to a schedule

If your employer doesn’t require you to work specific hours, create your own schedule and do your best to stick to it! One of the great benefits of working from home on your own schedule is that you can choose to work during your most productive hours. Some people are night owls while others are early birds, and still others find themselves somewhere in the middle.

When you create your schedule, be sure to give yourself an hour for lunch, as well as occasional 15-minute breaks. This will keep you from getting burnt out and help you to stay focused and productive throughout the day! Setting a clear start time and end time for your workday and promising yourself that you won’t work outside that time frame is also essential because it helps you create a healthy work/life balance.

Designate a workspace

When they first begin working from home, many people think it sounds like heaven to earn a living while sitting on their comfy couch or even while they’re snuggled up in bed. But those dreams quickly fade when you realize that it’s nearly impossible to be productive from these types of locations. Instead, designate a workspace and commit to doing your work there each day. Maybe you already have a home office, or perhaps you can rearrange a corner of another room to serve as your workspace. Even spreading out your work on the dining room table is much better than working from the couch or your bed.

Once you’ve chosen a workspace, optimize it! Make sure you have a supportive yet comfortable place to sit, a large enough surface for you to to fit everything you need, and plenty of light, whether it comes from a window or a lamp. As you create the habit of working in this location every day, your brain will begin to associate that specific area with work, and getting into a productive mindset will become much easier! For more advice related to mental health, check out MyTherapist.

Get ready for the day

It might sound nice to roll out of bed and walk right over to your desk to get to work, but if you’re like most people, your brain needs more of a transition between sleeping and working. Think about the morning routine you would have if you worked in an office. You’d probably shower, put on a clean outfit, eat breakfast, and brush your teeth. If you’re particularly ambitious, you might even fit in an early-morning workout before your coffee! Then you’d commute to work. This morning routine tells your brain that you’re getting ready for the workday, and it prepares you to be productive. Therefore, it’s very important to get ready for your day, even when you’re working from home, so that you can help your brain transition from sleep to work.

Obviously, it’s not necessary to dress as nicely as you would at the office if you don’t want to, but try to avoid staying in your pajamas all day. Since we associate pajamas with sleep and laziness, you’re much more likely to be lazy and unproductive if you don’t change into an outfit that’s more suited to work. Even a t-shirt and sweats is a better choice than last night’s pajamas!

Avoid distractions

Yes, avoiding distractions is much easier said than done, but there are still plenty of actions you can take to eliminate most of them. For example, if you know that you have a tendency to scroll through news sites or social media when you get bored with your work, download a browser extension that allows you to block those websites during working hours. If possible, set your phone in a different room so that you won’t pick it up and get distracted while you’re working.

Earplugs or noise-cancelling headphones are also a great idea if you struggle to block out sounds and prefer to work in silence. It’s also wise to inform anyone you live with of your work schedule so that they know not to bother you during those specific hours. You can even hang a sign on the door that lets family members or roommates know not to come in so that they don’t break your concentration.

Set clear goals for each day

A good habit to get into is to set goals for the next day at the end of each workday. That way, you’ll have a to-do list with your top priorities ready to go at the beginning of your next shift. Rather than looking through all of your work and having to decide what to focus on, you’ll already have your tasks laid out, and all you’ll need to do is begin. Setting two or three goals as top priorities can be very helpful so that you know exactly what to focus on throughout the day.

Maintain a healthy work/life balance

When you work from home, it can be extremely difficult to separate your home life from your work life–because they take place in the same location. Designating an area as your workspace, setting clear start and end times for your workday, and informing the people you live with of your working hours are all ways to set boundaries and maintain your work/life balance. Another way to separate work and home is to try working from other locations whenever possible.

If COVID guidelines in your area allow for it, you could work from the library, a coffee shop, or even a local park–just be sure to social distance and wear a mask, of course. If you’re unable to leave the house, try working from your porch or the backyard if possible. The fresh air plus the new location should help you to be more productive, and when you go back inside, you’ll feel like you’re coming home from work, helping you to maintain a healthy work/life balance.

The Bottom Line

It can definitely be a challenge to remain productive while working from home! But if you stick to a schedule, designate a workspace, get ready for the day, avoid distractions, set clear goals, and take action to maintain a healthy work/life balance, you’re likely to find that staying productive becomes much easier!

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