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The Australian Journal

GETTING STARTED

Starting a new business in the modern age involves a raft of additional things to consider than days of old. The many interwoven dimensions including type of entity, tax registrations and other government compliance or regulations, social media strategies together with other elements, mean you have to consider very carefully from the outset what your strategy and plan is going to be.

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KEEPING IT WITHIN THE LINES

Stay on the ball in your business.

A common mistake that people and, more to the point – entrepreneurs – make, is to think that they can “catch up later”. It’s a falsehood. Falling behind in the back-end is the surest way to failure and one of the pitfalls of trying to succeed with your front-of-house.

ABS apply knowledge and experience to helping you create value, while you get on with the big picture.

Get your foundations sound from day-dot. Allocate an hour or two each week to sitting down with specialists like ABS, share your wisdom and learn from theirs.

Australian Business Services are an idea factory on many different perspectives of business.  Systems. Accounting. Marketing. Online know-how, from website construction through to SEO and SEM strategies.

Surround yourself with successful people – that is a wise choice. You don’t have to be the most intelligent person in the room, but you will be the smartest if you get the best help.

Spend some of your time – maybe 5% – seeking out and asking people about the grey areas where you might learn some new things to apply in your operations.

Give consideration to finding a business coach, or a mentor – somebody whom you look up to and admire, to bounce ideas off from time to time and be a sounding board for challenges that you are facing, or prospects and proposals you might be considering.

 

 

 

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ESTABLISHING A WEBSITE

Websites and your online identity: before you establish a business, build a great website. If you have an existing business, make sure you spend some time on maintaining a virtual identity – it’s your online profile – project your business culture, service quality, people and products well. Properly thought through and maintained, it can be the most inexpensive and valuable form of marketing and advertising, with almost limitless potential.

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BUSINESS OR FRANCHISE ACQUISITION

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more detailed understanding of the figures.

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REFINANCING MORTGAGES & LOANS

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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STAYING ORGANISED

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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FORWARD PLANNING

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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MANAGING REMOTELY

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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BEING AN ENTREPRENEUR

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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