SME
Posted by admin | Posted in Helping Small Business | Posted on 05-09-2009
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Is there an alternative to real estate to create wealth?
Small to Medium Businesses help create Australia’s wealth!
This site is not meant to be advice. It is meant to help people with information about how to start a small business.
So how does a small business start?
Someone has an idea! and then the excitement begins!
So is the idea any good?
Run it past business consultants? cost? $$$$$$
Mr Bing agrees with guy in video, run it past family and friends. They will soon tell you! cost? $NIL
Mr Bing
PS This video is not Mr Bing!
So now you have the concept and everyone thinks its good! What next?
The dollars!
Back of an enevelope! Start with the cost first, and now add a bit extra! It always costs more than what you originally plan for. Now what can you sell it for? What are your competitors charging? if the numbers are good, then lets move on.
Whats next?
Up steps the marketing man! Whose the marketing man? You are!
Concepts are great, however businesses are about brand! You now need to create the brand!
Brand is everything! Without a brand, Coca Cola is just brown lemonade! Why do people buy a Rolex when they can tell the time for free off their phone?
Its all about brand!
Mr Bing says the value in a business is its brand!
Brand is just so important. because you are a startup you are going to need to create a brand. Starting point is the web. Before you name your product, or service you will need a domain name. Your product should be named around your domain name. The domain name, names will depend on your market. If it is only in Australia, best real estate is .com.au. If it could be international later on, then both .com.au and .com are needed. If possible, and it is very hard, try and get same name for both domains. That is why before you name your product or service you must see if the domain name is available
Mr Bing says a .com domain name will give you an international shopfront!
Why is brand so important? Because brand is everything!!! Big statement but true. Brand gives you the margin. The margin is profit. Larger the margin, larger the profit. Why do people pay thousands of dollars for a Rolex watch? They could just as easily buy a cheap watch. They pay the extra money because of brand and what is associated with that brand. Remember when you are building your business, brand is everything!!