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Questions

What is the lean methodology?

I've heard all about it but I'm not really sure how I could apply it to my business. read more

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Hi Anonymous, There is a lot to implementing Lean management and operational practice into any business and the actual activities and actions are very business specific. There is a lot published on the topic ( I have authored a lot of generic material too). Find a Lean management consultant, or interest group in your area with some expertise in your business discipline. People who advocate Lean principals are more often than not most eager to tell you all about the benefits you may achieve.
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Questions

How do I crowdfund for my business idea?

I have heard about crowd funding. How does it work? read more

Jef LippiattOwner at Startup Chucktown
There are essentially 2 ways to crowdfund a business. The first model made popular by Kickstarter and Indiegogo is anyone can contribute to your idea in exchange for a future product discount, specific rewards based on amount of contribution or getting access before available to the general public. In this model the contributors do not get any business equity. This is seen as informal crowdfunding.The second model is being crowdfunded by "syndicate" or a group of accredited investors that have pooled their money to spread the risk (think mini Venture Capitalism from the stand point that these typically aren't companies but just groups of investors that have decided to band together). In this model you very well may give up business equity to make the deal happen. This is a more formal crowdfunding approach. I believe both Angel List and Gust both have this as part of their online platforms.But before pursuing either, you need to know how much money you are trying to raise. What will that money be spent on specifically if you get access to it? What percentage of your business are you willing to give up to make the deal happen? How will you thank or reward contributors? How quickly are you trying to raise the money? Why do you need the money (product production, raw materials, scaling for larger quantity runs, distribution, etc.)?
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Questions

How do I find a small business mentor?

I am in my first year of a small digital marketing business.  I feel it may be useful to have a... read more

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Hi Mentoring involues more of give overrall guidance and coordinate in taking appropriate business decisions.This needs experience in the particular field of business or someone who is good in strategy and number of years of experience in running similar business or maanegement experience where he can be approached whenever the business needs support in key decisions and ongoing development of the business.One of the ways to find a mentor is by identifying a person engaged in business advisosory and focussing on small business .
Marcus TjenOwner at Rugged Computing
That depends on what kind of mentors you're after: Paid Mentor Easiest way to get someone to mentor you is to get a professional mentor to guide you. Of course the downside is that you have to pay them pretty pennies to get the advice and guidance. When searching for paid mentor best to do your research and find one with good reviews. Unpaid MentorYou can find unpaid mentor from your family and friends circle. Ask around for someone who has some experience in the area that you need to be trained in and since they're your friend or family, they would be willing to assist you with some advice and guidance for free.Incentivised Mentor Good mentor are very busy people, so it's almost impossible to find anyone that would be willing to mentor you for nothing. But, you can try to incentivised someone who you think would be a good mentor for you with some sort of incentives. It doesn't have to be money, it could be by offering them some shares in your business, you could offer to work for them for a period of time for nothing or close to nothing, you could join a cause that your mentor is passionate about and spend time helping your mentor manage/support the cause (eg. charity that they setup, etc). Your imagination is the limit.Passive MentorIf you could spare 30 to 60 minutes a day, you could buy and read books from successful people in your industry. Busy successful people prefer to pass on their knowledge through books or videos simply because that's how they can reach and help the most people with the least of time. So give their books a try first before you go and try to find a mentor especially a paid mentor, it could save you thousands of dollars.
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Onwards and upwards

Hello, Opportunity?

Perhaps you are waiting for things to change in the new year. I’m not here to say that won’t... read more

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Jef Lippiatt Owner at Startup Chucktown
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Kevin Nash
things not goes change as per by itself. you need to make the certain steps to get the changes.
Questions

Lookig for Powder Coating Equipment in Melbourne

A comprehensive range of Pressure Elcometer Blasting Test Equipments, We are providing Nozzle,... read more

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RM Coating RM Coating Supplies at RM Coating Supplies Melbourne
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Questions

How do I increase turnover?

My turnover isn't paying bills. read more

Greg RogersFounder and CEO at REthink HQ
Hi Paulette,Having owned and operated a restaurant myself I can certainly identify with your problem.The previous replies are good ones and should be looked into, the biggest challenge in providing any feedback though is the lack of detailed information. This is the first point I always request of clients. Get armed with as much detail (information) as possible, when you have this then you can make informed decisions and choices.I suspect your initial problem is not having enough information to ask for help that is more defined than simply 'how do I increase turnover'. Baseline data is the key!Information for you, right now, is to quantify, do this by making everything measurable. How many days are you trading? Breakfast, lunch dinner? What is the average spend for each service time?What are you food costs? Wage costs? Rent as a % to turnover, you make the comment that there is nothing you can do about the rent, I would respectfully suggest this can only be answered accurately when the question is actually asked.What is the value of the 5% monthly increase you are looking for? Is it simply more customers X the average spend? If so this will mean a different course of action as opposed to perhaps investigating starting a breakfast or lunch service.You have hit a wall after 7 months, does this mean that you were achieving your 5% increase prior? If so have you stopped doing something, can you do more of what was working?I agree that simply reducing staff levels to the point that it affects service is pointless, no or bad service = no customers. Is your staff mix and rostering balanced?It may seem I have compounded the problem by asking questions rather than offering solutions but if you haven't gone through an exercise like this, then any answer is more akin to throwing a dart blindfolded. You might hit the target, you might not. The biggest problem is that you won't know either way!I wish you all the best in whatever course of action you take and I acknowledge your courage in putting it out there for help...always a big first step to overcoming a problem.CheersGreg
Ideal homeOwner at Ideal Home Storage
Very nice
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Business ideas and monetising new concepts

6 things you should know before starting a business

That moment when 'doors are open' there's no turning back. Jumping in the deep end and 'learning... read more

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Isn't that the truth Jef! "I believe that Honesty and Transparency along with being Humble build a solid reputation. It may not be the quick way, but I believe it to be the right way." Agreed 100%. Aligning with 'slow and steady wins the race.'
Hi Sarah, I haven't heard of that saying before. Love it. So true.
Questions

How To watch Kovalev vs ward Live Stream

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New Day at Kovalev vs Ward Live
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Onwards and upwards

Work Inside The Box: The Rise Of The Shipping Container Office

Other than being a dedicated space for the running of business, an office is important because it... read more

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Ashley Bryan Owner at Webstrategies Pty Ltd.
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Jef LippiattOwner at Startup Chucktown
I'm definitely a fan of re-purposing shipping containers. I'd definitely like to have an office / retail shipping container setup for my business, but I'm not sure about all the local regulations here in the United States (specifically Charleston, South Carolina). However, I think it is an inventive way to stretch money and end up with a unique solution.
Startup branding and PR

Is your brand up to scratch?

Your brand identity speaks louder than anything in your business. It sums up everything that your... read more

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Jef LippiattOwner at Startup Chucktown
Well written and helpful examples.
Startup branding and PR

Should you hire an agency to do your branding?

Yes. There are many things that you can very capably do yourself, do inhouse with your team or... read more

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Leanne O'Sullivan Founder & Creator at Summit School
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Jef LippiattOwner at Startup Chucktown
I definitely agree that an outside perspective is beyond helpful. Sometimes you don't even know what questions to ask.
Onwards and upwards

10 key factors to consider when assessing your export readiness

Your decision to start export operations may be prompted by a range of factors - to increase sales... read more

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Questions

Should you share business ideas with others?

Jef LippiattOwner at Startup Chucktown
Nick,building on the previous answer, I would also say that there are really 2 schools of thought. I'm not talking until we all sing NDA (Non-Disclosure Agreements)I'm telling everyone I possibly can and hoping for feedbackIn the bright world of 2016 most people, companies and definitely Venture Capitalists (VCs) have stopped signing NDAs. Why? It isn't worth their time. Why else? It limits them from hearing an analyzing other ideas in a similar industry or field. It is really only needed if you have and are showing registered Intellectual Property (IP) such as Patents or Trade Secrets.The argument against NDAs is mentioned above. Execution is key. Everyone has ideas, in fact I have more than 8 notebooks filled front to back with more ideas than I could ever execute on. However in those notebooks they'll never turn into anything. I've tried to give some of the ideas away.Keep in mind, many people will belittle your ideas. It really is hard to get someone to steal your idea (most people wouldn't want to put in the effort). However, if absolutely no one wants to steal your idea, you may not be trying to create something that anyone (or at least not enough people want or need).If you aren't sharing your idea, you aren't getting feedback. Chances are, you'll need to make some tweaks to your original idea anyway. So be open about what you are trying to accomplish and realize that there is room for competition and that it is a healthy driver of innovation in and of itself.
Prosper TaruvingaDigital Marketing Expert at Livelong Digital Pty Ltd
The dream is for everyone, but the hustle is sold separately. What I mean here is, When you have an idea, it is worth nothing if it's not executed.So if you share your idea, someone may not execute it as much as you would or as good as you will. You can actually buy lists of ideas ready to implement, so your idea is only as good as the execution.You wanna know the wealthiest place in the world, Nick? It's not Dubai, It's not America. It's the graveyard!There you will find, dreams and ideas that were never realised. People die, clutching their ideas, books, or whatever gifts they have because either, they are not willing to execute or share with others what they have.Usually fear stops people from sharing their ideas. Fear of failure, fear of ridicule. That should not stop you from getting your idea out and getting feedback.Speaking of which, what was the idea about?
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Startup branding and PR

Should you hire an agency to do your branding?

In a word, yes. There are many things that you can very capably do yourself, do in-house with your... read more

Added by:
Leanne O'Sullivan Founder & Creator at Summit School
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Jef LippiattOwner at Startup Chucktown
The branding is definitely an important aspect that most business owner's do not fully grasp or understand. I think the creative agency also needs to educate the business owner on why the branding is so important and how to correctly implement it not just hand it over to them.
The fact that the potential value of a brand is rarely considered during its development is another failing of the DIY methodology. Your brand’s value (as well as its associated IP) may one day need fund your retirement, or form the basis of a national franchise.Every brand must be devoid of fatal impediments that restrict your capacity to grow regionally, diversify into new market revenue streams or simply attract investment capital. Your enterprises brand represents its potential value and is what every business owner works each day to create and sustain.I always emphasise that a genuine commercial brand must never include any content that appears on an envelope addressed personally to the business owner. There are very few legitimate exceptions to this rule.
Questions

best way to launch my dental surgery business

* Tips to have a good business plan * Guidance to negotiate good commercial lease. * Suggestion to... read more

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Just wanting peoples perspective if they have donated their time / equipment for a charity?

I have donated time and equipment for 3 separate charities. Each time it has left a very sour taste... read more

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Questions

If you saw a business name "balance personal finance consulting" what would you assume they do?

Just throwing an idea around. read more

Steve OsborneOwner at Smarthinking
I would assume the firm dealt primarily with helping Mums & Dads, young singles and those on limited budgets with budgeting, crisis financial management and getting out of debt.I might also expect basic help for low/small budget first time investors with getting into the share or property markets. I would not expect a firm with this name to be operating with high nett worth individuals.
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Questions

Have you considered engaging an Advisory Board member or a Corporate Mentor?

Advisory Board Members or Corporate Mentors are increasingly used in startups and/or growth... read more

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Neil Steggall Partner at Wardour Capital Partners
Kirsty FoxPrincipal at Spitfire Solutions
I think it is a good idea. I think every business can benefit from an "Advisory Board". Probably the bigger question is who to have on your board. A mentor is an excellent starting point, and you need an "outsider" who can look at the business dispassionately.
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Startup branding and PR

It's okay to make mistakes with your brand

Songkran in Thailand is New Year and it is celebrated every April. Songkran comes from the Sanskrit... read more

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Lauren Clemett Director at Ultimate Business Propellor
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Jef LippiattOwner at Startup Chucktown
Some very insightful thoughts to consider.
Questions

Are there differences between Chinese internet companies and the Silicon Valley model for internet companies?

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