Startup

I haven't done this personally, but I do know both founders from a local company (Charleston, South Carolina, USA). Their company, Launchpeer, pitches itself as a "Startup-as-a-Service" company. Over the years they have launched several unique programs, such as an accelerator and a loan program for clients. I really couldn't do their story justice, so I've linked to the article that explains their start. I think you'll gain a lot from checking them out.

Having a good set of accounts is a must however; what many SME,'S forget is Cash flow projections! This can be done with a simple spreadsheet and should be updated every six months to project the next twelve months. Having a great business model and increasing sales is great but if you run out of cash its game over

I actually live by this rule as often as possible and it has served me well. As far as Vinomofo goes I would say our most valuable time has been spent on delivering the best possible product. Make it so good that your customers do the marketing for you. On the flip side if your product is shit no amount of advertising is going to save you.

Ling,

Thanks for asking. I moved to the area (Charleston, South Carolina, USA) for a full-time job. When I arrived in the area, I had already been working on several side projects. I connected with who would eventually become my co-founder on Twitter several months after being here.

I got the idea for Startup Chucktown after looking around at the local startup resources and being disappointed that all most all of them only focused on technology startups (a very small portion of the overall startup ecosystem). I wanted to create a platform/resource that would benefit all entrepreneurs and startups regardless of their industry. I toyed around with other names (Holy City Startups and Silicon Harbor Startups) Holy City and Silicon Harbor both being other monikers for the area. I don't agree with "Silicon X" derivatives as they don't really give a unique identity to the area. Startup Chucktown stuck and it became a project to see if me and the new co-founder worked well together.

It seemed like a good partnership and our content started getting noticed (I attribute this to our all inclusive entrepreneurial approach). Since we started more things have sprung up but they still mostly focus on technology. We believe in our product and the responses we get are why we continue to look at ways to improve and adapt our content.

My inspiration is that my startup aspirations span multiple industries: technology, music, food, liquor, writing, physical consumer goods and digital products. We also are targeting 3D printing and open hardware. If all goes well, we also want to open the first all inclusive coworking facility in the area. We want to blend shared office space, a commercial kitchen, 3D printing and open hardware lab as well as a full machine shop. We have large aspirations.

If you are a startup Commbank is pretty good and has a lot of good features. However I would highly recommend setting up an Hong Kong company and getting a HSBC multi currency account setup with them. It makes life a lot easier when it comes to international payments.

While most people think having a Hong Kong company is just a tax dodge, reality is for anyone doing business in multiple countries it simply makes sense. It only costs about ~$2,000 to have setup (both company and account) and can make life easier.

Word of warning though, if you just setup a Hong Kong company and live & work from Australia only you will be questioned by the tax office.

A professional business mentor should be someone who has been exactly where you want to be, not to mention where you were. They need to be paid a decent wage, since they're going to be the ones helping you get to the next level. Here's what you should be aware of...

IT'S A SPECTRUM OF PRICING
It is possible to find a free mentor. I ought to know, it's happened to me. However, you usually get what you pay for. A free mentor is volunteering their two cents and will only work in their free time. If you want to get someone who will be there day in, day out, you need a professional. 

With that said, the typical range is between $50 to $300 per hour. Some, like Mark Cuban, can charge as much as $10,000 per shot!

HOW THEY CHARGE 

Most professionals will charge between $80 to $100 per hour-long session. Some offer bulk packages for around $500 a pop. For most people five to 10 sessions is more than enough to fix everything that you could get fixed.

HOW CAN YOU TELL IF IT'S WORTH IT?
You should pay a professional business mentor a reasonable price, and that all comes from their reviews as well as their results. If it's clear that they walk the walk, you can expect to see results in your own company.