Learn about Business planning, Finance and Legal Issues
Planning is very important when setting up your business. Having plans in place will allow you to:
- set goals
- track your progress
- sell your business idea to others
- know what to do when things don’t go to plan.
Find out more on how to develop your business plan and manage your legal responsibilities, earn money and manage your finances!
When you start a business, there are also tax and super responsibilities you need to be aware of, including:
- the tax implications of your business structure
- registering your business
- records you need to keep
- deductions you can claim.
We provide information about the key things you need to know and do when starting your own business.
Set up business: Our Super Value Pack is a must have for small business owners. The 4-in-1 ‘Set up your business’ downloadable pack includes the 4 essential elements for business success.
This pack includes Modules 4- 7 from our full ‘Business Success Program’. These 4 essential modules will help you in setting up your successful business. At a very low price, this downloadable pack is super value!!
- Module 4: Write a Business Plan
- Module 5: Understand your legal responsibilities
- Module 6: Register your business
- Module 7: Plan your Finances
You can read details about each module below…
Module 4- Write a business plan: “Fail to plan, plan to fail”
All successful small businesses have detailed business plans. These plans are a roadmap to business success. It is very important for you to take time to write down what you plan to achieve and exactly what steps you are going to take to get there.
For example, in our last successful business that generated millions, we actually wrote down the 1000 steps that we would need to take to achieve that success. Do you know your 1000 steps to success?
As a result of completing this ‘Start a Small Business’ module, you will be able to define the 1000-steps for your small business. This module will cover:
- Define your business and financial goals
- Identify your products/ services
- Identify why customers should buy from you
- Research your competitors
- Plan how your products/ services will reach your customers
- Decide on your pricing strategies
- Analyse your business strengths and weaknesses
- Plan your day-to-day operations
- Plan your marketing strategy and budget
Module 5- Understand your legal responsibilities as a small business owner
As a result of completing this ‘Start a Small Business’ module, you will understand your legal responsibilities as a small business owner. In this module, we will use Australian laws to illustrate the types of compliance requirements for small business owners. Most countries have similar laws. You will need to look at corresponding laws in your own country.
This ‘Start a Small Business’ module will cover:
- Workplace Health and Safety
- Industrial Relations/ Employer obligations towards employees
- Anti- Discrimination laws
- Tax and Superannuation (GST/ PAYG etc)
Module 6- Register your business: Time to get excited! You are on your way to business success
By completing this module, you will have a registered business ready to sell your products/services and make money. The workbook will help you to:
- Identify and select the appropriate legal entity for your business
- Register the legal entity and business name
- Register the domain name
- Get a bank account
Module 7- Plan your Finances: Understanding your income and expenditure is fundamental to your small business success
People who start a business are usually very good at the technical aspects of their business. For example, a self-employed plumber is very good at his trade and can fix leaky pipes easily. A doctor running her own medical practice is very good at treating her patients and a retail shop owner is very good at managing his stock and his customers. However, just because a business owner is good at their craft or profession, does not mean that they understand business finances. It is imperative for all business owners to understand the basics of financial management. Most small businesses fail because they don’t understand basic financial management.
This ‘Start a Small Business’ module will help you understand small business finance and help you achieve financial success. It will teach you how to:
- Assess how much money your business can realistically make
- Calculate how much cash will be left in your pocket after expenses
- Set realistic financial goals
- Price your products/ services sensibly so you can make money
- Calculate your break-even point (the number of sales you need to make to start making a profit)
- Plan a budget that will help you with your cash-flow
Start a full Small Business course today! Start a business, work from home or buy a franchise or business for sale and make money.
Or do the above ‘Set up business’ modules by clicking below: