Onwards and upwards

How Recycling Cuts Costs and Attracts Customers For Your Café & Restaurant

Running a small business is a difficult and challenging vocation, no matter what industry you’re... read more

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Phil KhorFounder at SavvySME
Great article, love the compost idea and using it for a herb garden, especially for a restaurant! Thanks for sharing.
Jef LippiattOwner at Startup Chucktown
Lots of engaging tie-ins, great post.
Investor funding and capital

How to win the interest of investors when pitching

When pitching your idea to investors, ensure your concept is clear, compelling, and begins with a... read more

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Jef LippiattOwner at Startup Chucktown
This article is full of detailed information for entrepreneurs just starting out on their journey. Also, make sure that you adapt your pitch and presentation based on the investors in front of you as best you can. Different things motivate different (kinds and types of) investors. Do your research on them ahead if at all possible. It will help you better connect with them based on their experience and expectations.
Business ideas and monetising new concepts

Product Validation: How to pre-sell

Before you invest all your time and money into a product, build an audience that would be... read more

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Bootstrapping

How to Efficiently Grow a Small Business on a Tight Budget

Small businesses that are just starting out have to use their money as wisely as possible, getting... read more

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Investor funding and capital

CBA: Get ready for higher business investment in 2018

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Bootstrapping

What have I learnt from bootstrapping my latest venture, 6 months in?

I am now 6 months into my 3rd start up which feels like a good time to share my experience of... read more

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David BradburyOwner at Selector
Yep pretty pleased with the engagement levels to date, baked in plenty of sticky "secret" sauce to the build which combined with a constant flow of new, rich content seems to be delivering
Neil SteggallPartner at Wardour Capital Partners
Wow! a one in three re visit is better than healthy is on steroids! We may need to have a chat as to how you achieved this. Well done
Business ideas and monetising new concepts

3 Tips for Starting a Company in an Unfamiliar Industry

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Measuring startup success

4 Tips for Building a Million-Dollar Business

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Investor funding and capital

$1 billion raised in Australian venture capital over the last year, report finds

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Questions

What are the best ways to market for a community-based cafe?

John lewis
If you send me you location, I can provide a map of the catchment area, showing areas of about 300 dwellings with estimated discretionary income, and a complete list of all addresses for these areas.Your cafe is more likely to be successful if you can attract more regulars from your catchment area, compared with your competitors.A key part of success will depend on the quality of your overall hospitality offer, as well as the value in special offers that you provide to the locals in your catchment area.
Michelle Gentry
I've sold a niche Instagram account to an investor and she is now monetizing that account. Hope you can elaborate what you mean by community-based cafe. Is it built by or for the community?
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Questions

Where can I find angel investors?

I have a business idea and planning to present it to investors but I do not know where to find... read more

Marcus TjenOwner at Rugged Computing
Put yourself in an investor's shoe, would you give a stranger your hard earn money because he/she has an idea? Anyone who is a professional investors would not give you a time of day if you only have an idea, you need to develop your idea into something tangible such as a patent, a prototype, or something that shows that it is of value and not just in your head. Even if you have a patent or a prototype, investors are not going to line up to see you, most of them want to know whether there is any potential return for their investment and how long they have to wait to get a return which is why most people who are successful in getting investors are people who already start a company and already getting sales or subscribers or members or users for their services. If you only have an idea, you're a long way from getting a professional investor to invest in you.Most people with good idea can find investors but they're not professional investors or angels. Your potential investors are your parents, your family members, your friends and colleagues. Approach them about your idea and see whether they would be excited to make your great idea into a reality. If you can't convince people you know that you have a great idea, chances are you won't be able to convince professional investors who do it for a living.
Yee TrinhCo-founder at SavvySME
Great to have you on board Greg. I think you are far from funding stage, of any sort. With simply a business idea. You don't need a lot of money, if any, to do some initial mockups or tests to assess results and viability of your business idea. Focus on the business first and foremost. Show some traction. Doesn't matter how little. You'd be hard pressed to find any investor who will take you seriously otherwise. Once you have driven some results and or traction, then look to ask for funding. Having said that, always build connections early on. This is a great time to look for mentors and connect purely for purposes of advice or insight. Over time, invest in your relationship, demonstrate to them what you are able to achieve.
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Questions

How did your brand and identity survive 2012-2013?

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Miky Kens at Patriot Electric
To further qualify your question Miky, 4 to 5 years after the event what difference douse a retrospective on a brand identity's survival make?
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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

Marlon MuyaFounder and Owner at Casino Financing
Have you started crowdfunding Clive? How was it?
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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Brad LyonsOwner at SMS Fusion
I would say don't hire a mentor, hire a consultant. Banks and other large companies hire consultants all the time to introduce you processes and technology into their business.Talk to sales reps. If you want to improve different areas of your business, speak to sales from the service providers. They will help you get an understanding of how their product can help. Speak to enough sales reps and you will get a better understanding of the industry and ways you can improve your current processes. You could hire a consultant and I would recommend that. However not until you talk to sales reps first and do some industry recon first. Research your industry, know more about the tech that is available, then look at a consultant. Then you can get value for money out of them. I have companies call asking for help however they don't really know their industry. They don't research and they don't want to change anything. They just want someone to talk to and let off steam. I have no interest in that and nor to most consultants I know. A consultant should be able to walk in. Identify issues and put forward solutions. If your not willing or can't afford to make changes, your not in a position to hire a consultant. Prior to hiring a consultant you should have a basic understanding of what your pains are. Are your processes taking too long. Is your spend too high vs return. Do you want to automate more. Just speaking with a consultant over the phone prior to hiring them, they should be able to tell you. Yes or No, around how much to actually make changes in your business. If the consultant can't give you a basic understanding of what you should expect and how much to impliment change. Then call someone else.
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 .
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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.