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Do you prefer to start with a small project or jump straight in with a freelancer?

When starting to work with a new freelancer or consultant do you prefer to start with a small... read more

Asked by:
Jef Lippiatt Owner at Startup Chucktown
Small projects are probably the best when using contractors for me.When you and your prospective colleague are both new to a relationship, small projects provide a low cost, low risk, time-bound opportunity for parties to clarify expectations, define boundaries and explore each other's strengths, weaknesses and expertise. Everyone has different styles and skills... it's just about finding someone who works well with yours. An employment relationship is no different to any other relationship.
Steven FreemanOwner at Evolved Sound
Starting small as a test on skill, professionalism and attitude is the best first step. The whole probation (or prove your worth) thing applies to most new contractor experiences, as it would in the traditional word too.
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Questions

How do I start a business incubator program

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What do you use to manage work/life?

I am currently using 3 diaries - biz, work, home! It is definitely not efficient, and at times is... read more

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What sacrifices and risks am I willing to take to be successful?

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How will I balance family and business?

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Questions

Any advice or tips to consider while reviewing the proposals?

I'm out of my depth on this and naturally would talk to our accountants and lawyers etc read more

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Questions

Anyone ever used Freelancer or similar to find someone to build a website? Am i being crazy even considering it?

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What is the go with spammy sales emails that you can't unsubscribe from?

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What do you do when you can't even get a client in the door?

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When you arrive at a new town or city; what sort of information do you want to know

or what are the things you look for? read more

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HOW do you go about finding and choosing a VA?

given that I don't have abundant time to keep trying people until I find someone that clicks? (I'm... read more

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Questions

Would you rather lose a client or lose a staff member?

Or in other words, keep a client and lose a staff member or keep the staff member and lose a... read more

Melanie GrayOwner at MyCL (My Computer Lab)
Much prefer to loose a client! I only keep employees if they are awesome.
Jef LippiattOwner at Startup Chucktown
Gary,I would somewhat echo what Huy wrote. I would most likely want to keep all of my staff, unless someone was causing problems for the overall team or not meeting expectations. If you've done your due diligence when hiring, it'd probably be hard to let someone go.However, from a client perspective I would examine a few more items. If the client is always difficult to work with, it would be an easy decision to stop working with them. I think the main concern before losing a client would be to consider, how much of your business will be impacted by not having their business? If cutting a client loose (even a difficult one) would impact your business to the point of closing your business you need to do some hard looking. Build up some additional clientele before cutting the client off. I would take that approach to ensure that if I lose a client, my staff would still have jobs.
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Questions

If you have done jobs for groups like Target and Tyco, do you have a right to list them on your website as past clients?

Steven FreemanOwner at Evolved Sound
Depends on the specific agreement you have with them. Just because you served them doesn't give you the automatic right.It is generally OK to list them, however displaying their logo may be a breach, so it is best to seek their written permission first.
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Questions

What is the right time to buy Investment property?

How much money do i need to get into property investing? read more

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Have you ever wanted to become an Author & Speaker and know that you have a message to share with the world?

Could you please share the top 3 things that have held you back from writing your book and sharing... read more

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Training and development

TRAINING: Negotiate your way to business success in Asia

If you are considering expanding your business to Asia, negotiation skills are critical each step... read more

Added by:
Heather Chai Head of Communications at Asialink Business
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Heather ChaiHead of Communications at Asialink Business
Register for MELBOURNE here: https://www.eventbrite.com.au/e/negotiation-influence-in-asian-contexts-melbourne-registration-25527116292 Register for SYDNEY here: https://www.eventbrite.com.au/e/negotiation-influence-in-asian-contexts-sydney-registration-25527238658 And don't forget your discount code!
Questions

What have been your biggest challenges in starting a business?

Daniel BradyOwner at Heavenly Hammocks
1. Growing sales further. Our sales are up 150% year-on-year, but higher would be better.2. Warehousing. Since recently, we've been using a fulfilment warehouse (Brisbane Logistics). It works pretty well except that their Toll delivery charges aren't cheap compared to FastWay. However, the rent charges only seem economical for our best selling products, not the slower moving products.So the less-popular products are still stored at home, while the popular products are warehoused. So we're only half-way to being a properly warehoused business.
Melanie GrayOwner at MyCL (My Computer Lab)
Marketing. Was a huge learning curve. And I don't enjoy the tasks.
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Questions

How can I get a venture capitalist to pay attention to me?

Steve OsborneOwner at Smarthinking
DebraA similar question* was asked some time ago by one of the Savvy community. Ling asked:"What can I reasonably expect from venture capitalists for my new startup?"Altho' you may or may not be a startup in the traditional sense, I think the way you get VC's to pay attention to you is to give them what they want. Here is the answer I gave back then, which applies equally to your question:Without knowing what your startup is about, my comments are pretty general. Therefore, it depends. Amongst many other things, it depends on what industry you're in, what the scalability potential is like and how much skin the founders have in the game.The first and most obvious thing to say is: they expect a return. And that mighty quick. My experience preparing business plans for VC investment taught me several things – the most important being: 1. your idea is worth precisely zero until it is implemented. Investors want to see a working model. 2. investors are taking a big risk, therefore will expect a big return. After all, if your startup is not doing something that's never been done before, by definition it's just another business. And if all you need is money, go to the bank. So expect them to ask for at minimum, 30% return over 3 x years on say, $1mill. 3. investors are most interested if you can clearly show your three different customers. If you can define these three distinct groups early on, you stand a better chance of growth and a better return on exit. A wiser man than me defined them thus: Customer One is your end-user. It is to serve her needs that your business was created. Without this customer, you don't have a business. Customer Two is your bulk-buyer. This second customer is the one on whom rapid expansion will pivot, based on the idea that it's easier to sell to one who buys 1,000 than it is to sell to 1,000 who only buy one (customer 1). This customer shapes the speed and scale of growth. Customer Three is the business buyer. This is the entity that will eventually buy your business. This individual or company will ultimately make more from your assets (customers, database, products) than you can. This customer shapes your positioning, your customer information collection, your database. And this customer is the most difficult to identify. But it's this last customer the VC's are most interested in, because that's where the greatest value lies. If you can demonstrate a firm grasp of how each customer group is linked, you can argue a simple and very powerful case for investment. Everything else is just logistics. Ask Neil at Wardour Capital about this stuff. He is the expert.**Note to SavvySME Questions Admin: there is no system available within the site to refer to previously asked questions, if they were answered more than a few months ago. Perhaps a form of cross-referencing could be devised so questioners could find out whether their question already has an answer?
Jef LippiattOwner at Startup Chucktown
Debra,One of the most important ways to get a venture capitalist excited about your business is by looking for the right connections.You don't want to approach just any VC. You want to approach VCs that are interested your business industry or type of business.You also need to customize information you are sending to individual VCs so they can tell there is a personal touch (don't blast out stock emails to a bunch of VCs).One of the best ways to attract investors is to have you business positioned correctly. There are key metrics that VCs find more tantalizing than others, so know them. Some questions and metrics to keep in mind:Do you have a repeatable method of monetizing your business / users?Are you cash flow positive? If you aren't, when will you be?What is your cash burn rate per month?How many Monthly Active Users (MAU) do you have? Is it increasing?Who is on the team and what are their areas of expertise?Do you currently have any mentors or advisors? What are their strengths?How much money are your trying to raise?What will you do with that amount of money specifically? How will it help the business?If you can answer more than half of those questions, you should put a slide deck together or start looking for pitching opportunities. If you can't answer even half of those questions, wait until you can before approaching a VC.
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Questions

How can I obtain cash to maintain and grow my business?

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Questions

What terms would you search online to find someone who can install your baby capsule/child car seat in your car?

I'm curious as to what words people are searching online. read more

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