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Being in Business

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Being in business - a presentation to TAFE students, Hobart 2016

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Being in Business

  1. 1. Being in Business – a story and some lessons ;) 1 1996 2008 2014
  2. 2. Purpose of this session? 2 1. Share some insights from my experiences 2. Offer some starting points for those wishing to succeed in business in Australia 3. Leave you with access to the tools you’ll need to get started.
  3. 3. Process? 3 Questions welcome  1. Presentation 2. Examples 3. Share stories If anyone wishes to blog or tweet this session please use the hashtags #business #tassie
  4. 4. Payoff? 4 • Practical steps to start a business • Links to ‘how to do this’ • After session support Image – source unknown
  5. 5. What do I do? 5 Train AssessDevelop Business health check Implement changes Solve problemsReview Advise Provide tools Pelion - RTO CoacheStuff FFC - Consulting
  6. 6. What do I do? 6
  7. 7. A short video https://youtu.be/pQHX-SjgQvQ
  8. 8. Thoughts? What did you learn from the video?
  9. 9. 1. Born here? 2. Studied here? 3. Family here? 4. Arrived with money in hand? Journeys
  10. 10. My story… Lived and studied in 3 locations in Scotland, BA Edinburgh Univ 6 yrs old when TV installed. All Uni assignments done by hand. 1978-1981 Worked in Government, catering and hospitality jobs. MS-DOS and IBM PC first invented. 1981-1982 Travelled from Scotland to Australia Kept in touch with family/friends by letters, cassette tapes and phone. 1983- 1989 Worked in OHS, Information, Community Development Internet created, Word 1.1, Apple 1990-1992 Worked in remote South Australia (TAFE) Began playing with distance learning tools (video / phone conferencing) 1996 Started own business Pelion Consulting Pty Ltd - private RTO Established business, training adults to use action learning. Created own Website using a static web page 1999 OTAN - Online Trainer and Assessor Network WebCT - an early LMS 2000 Collaborative Online Moderated Assessment. First online course as learner Attempted to set up three online communities
  11. 11. My story cont.… 2001 Began work as online facilitator Own projects plus forums and text chat at the 2002 IT World Congress 2002- current Facilitator, designer, mentor of e-learning activities. 90% of work is done online Keep in touch with family/friends through VOIP, video, e-cards  2008 Started consulting arm - Frankie Forsyth Consulting Creating and producing online tools, videos, SCORM based objects, social media well established. 2013/4 - current Combined with two friends to start CoacheStuff Working virtually with shared, collaborative tools. Future ???
  12. 12. Formal credentials + practical experience = … Insight No. 1
  13. 13. Product/service/person in demand! Photo © Frankie Forsyth, all rights reserved.
  14. 14. Questions?
  15. 15. Starting a Business! Image: 'Google Doodle'
  16. 16. Starting a business 1. Choose your business structure and type 2. Apply for an Australian Business Number (ABN) 3. Register your business name and trade mark 4. Register a website name 5. Check what taxes to register for https://www.business.gov.au/info/plan-and-start/start-your-business
  17. 17. Starting a business 6. Registration and licences to Start a business 7. Register for an Australian Business Account to manage your licences and permits 8. Buy or lease a business premises 9. Arrange insurance for your business 10.Find out about selling products and services. https://www.business.gov.au/info/plan-and-start/start-your-business
  18. 18. Photo by Mark Roy (Creative Commons)
  19. 19. Ask yourself… 1. Why do I want to be in business? 2. Is this a good time? 3. How much money will I need? 4. Where will I get the money? 5. What other people do I need? 6. How do I cope with ups and downs of business? 7. What’s my exit strategy? http://www.forbes.com/sites/thesba/2013/12/09/7-questions-to-ask-before-starting-your-own-business/#20944e6a3512
  20. 20. Are you… http://www.wix.com/blog/2014/04/10-qualities-of-fantastic-small-business-owners/ Decisive Creative Bold Excited Resourceful?
  21. 21. Do you have these characteristics? http://www.wix.com/blog/2014/04/10-qualities-of-fantastic-small-business-owners/ Honest Sociable Dedicated Forward thinker Flexible?
  22. 22. Do the quiz  Try the quiz at: ANZ Business Hub - Tools https://thesbhub.com.au/tool s-and-templates/should-you- go-into-business-.html https://thesbhub.com.au/tools-and-templates/should-you-go-into-business-.html#.VzcXNvl941I Successful Australian small business owners: 1 2 3 4 5 1. Already have strong skills and experience in the relevant sector 2. Identify an opportunity in the market that no one else is exploiting 3. Carry out thorough market research before making crucial decisions 4. Have support from family and friends to get through the tough times 5. Have sufficient money to keep the business running and outlast a cash crisis 6. Have a network of experienced business people to talk to 7. Understand how to market their business, especially online 8. Keep up with industry trends through fairs, trade publications and websites 9. Have the entrepreneurial spirit – passion, determination and persistence 10. Work to goals but are prepared to adapt their strategy if necessary 11. Can easily convince others that their business idea is good 12. Have a revenue stream or a customer ready to order before they start
  23. 23. Tips to get started… • Do your research • Get help • Build a good team around you • Know your customers, who, where, how will they find you • Plan, plan, plan! (product/services, competitors, stock, $/breakeven, finance, fun).
  24. 24. Questions?
  25. 25. Photo by Mark Roy (Creative Commons)
  26. 26. Do the research  https://thesbhub.com.au/tools-and-templates/should-you-go-into-business-.html#.VzcXNvl941I
  27. 27. https://www.commsec.com.au/content/dam/EN/ResearchNews/CommSec_State_of_the_States_April2016.pdf
  28. 28. About Tasmania In 2013 Tasmania Australia Population 513,159 23,135,281 Median Age 41.2 yrs 37.3 yrs Total No. of Businesses 37,484 2,079,659 Business employing 5+ people 5,596 251,944
  29. 29. Business in Tasmania
  30. 30. Business in Tasmania http://business.tas.gov.au/__data/assets/pdf_file/0020/121781/Small_Business_Stats_Update_June_2015.pdf
  31. 31. Investment priorities • high-value food and agricultural initiatives • tourism growth and infrastructure development • developing further our natural resources with a focus on minerals and forestry • Antarctic and Southern Ocean • science research • building upon our precision manufacturing capabilities. http://cg.tas.gov.au/home/investment_attraction/why_invest_in_tasmania/innovative_progressive_industries
  32. 32. Proper, prior planning Prevents Poor performance! Insight No. 2
  33. 33. Photo by Mark Roy (Creative Commons)
  34. 34. Ask for help 
  35. 35. Help is at hand… https://www.business.gov.au/info/plan-and-start/new-to-business-essentials
  36. 36. Help is at hand…
  37. 37. • Bank • Accountant • Solicitor • Insurance Broker • Business Advisor/Coach/Mentor • Inspiring Stories from existing business people More Help needed?
  38. 38. More examples in Tasmania http://www.enterprisecentres.tas.gov.au/home/success_stories
  39. 39. "Do. Or do not. There is no try." - Yoda, Jedi Master. Insight No. 3 "Twenty years from now, you will be more disappointed by the things that you didn't do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails. Explore, Dream, Discover." Mark Twain, author.
  40. 40. What next?
  41. 41. Enterprise Centres Tasmania (ECT) provide free and confidential business assistance and workshops to people thinking about starting a business, those who have just started a business, and established small businesses. The ECT program is delivered by experienced small business consultants who provide practical one-on- one guidance to business owners and intenders. http://coachestuff.com/ Enterprise Centres Tasmania
  42. 42. Thank you  Original image: 'Rainbow Cafe's door knob' http://www.flickr.com/photos/93382027@N00/80959145 by: CarolineReleased under an Attribution-NonCommercial-ShareAlike License Contact me: frankie@coachestuff.com and on skype: frankieforsyth A copy of this presentation is available at http://www.slideshare.net/frankie/being-in-business
  43. 43. Copyright Please feel free to use any of the material in this PowerPoint with the exception of any photos with an @all rights reserved on them. Most of the graphics and photos were sourced from Flickr under a CC licence. Thank you to all who make this possible. If I have inadvertently used someone’s copyrighted photo please contact me and I will remove it. Enjoy! Frankie

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