For some people starting a business in Australia, deciding whether to set up as a sole trader or establish a company can be pretty daunting. How do you really know which option is best for you? It can be confusing. Between the labyrinth of government websites, lawyer’s legalese and accountants Excel spreadsheets… deciding the best structure can be incredibly tough.
Making the right decisions when starting a business can be hard. Hopefully this simple layman’s guide to deciding whether to sole trade or start a company will help.
Business founders who decide to start up business as a Pty Ltd company are often on the right track. The benefits of a Pty Ltd company structure make setting one up the wisest option. This is especially the case if you are:
starting up with business partners, be they Directors or shareholders
seeking fast growth
plan to supply to major corporations
intend to hire staff
seeking to maximise the benefits of a tax effective business structure
considering equity investment
want ‘street cred’ as an Australian company
already considering exiting the business at some stage
If one or more apply to you, you should seriously consider forming a Pty Ltd company. That’s not to say setting up as a ‘sole trader’ is not a suitable option. However, people who set up to ‘sole trader’ usually fall into one of the following categories:
starting up a hobby business to supplement income
starting a part-time businesses
planning to work as a one man/woman band for the foreseeable future
testing the waters in business for the first time
looking to run a business that fits an existing lifestyle
generally not seeking significant growth.
Every person’s circumstance is different so exceptions to the guidelines above do occur. The decision is not always simple or clear cut. Age, industry sector, start up capital, family status, asset base and a range of variables should be taken into consideration.
For this reason, input from a professional, such as a lawyer, accountant or a specialist start up firm is very much worth considering.
What else determines the decision to choose between sole trader and Pty Ltd?
In a word, liability. And it is so important a point it deserves a section of its own. As a sole trader your liability is unlimited. That means if you are sued your personal assets (house, car, money in bank, valuables etc.) are 100% exposed. A Pty Ltd company structure offers a better level of asset protection, as the business is its own legal entity (and therefore separate from you).
Regardless, for all new businesses we highly recommend business insurance. It’s like going out for a walk on a cold Winter’s night with a really warm jacket on. However, for sole traders with 100% liability risk, insurance cover is doubly important.
What about the cost?
Setting up a Pty Ltd company in Australia is a little more expensive that setting up as a sole trader. However, for the sheer value it delivers, we believe that …
The realm of video marketing may be new to some, though it has recently become a wildly popular platform. Fast Internet connections and greater accessibility allow people all over the country to spend more time online in search of interesting content. This article will help you leverage video marketing.
Any marketing video should be short. Many people are not willing to spend a lot of time watching a video online. Should you require a longer, more detailed video, it may be best to divide it into segments. For example, a 20-minute video could be split into four separate videos of five minutes each.
Never miss out on a good opportunity because you’re too intimidated to try new things. A tripod and a good quality camera are all you need in order to make your own videos. You may want to give a demonstration of the way your products are made or simply speak with viewers.
The way to have your video go viral is to focus on excellent content. You need not have expensive video equipment for your video to be viewed by millions of people. People would much rather watch a relevant video. That said, buying the best camera you can get can help you have a better quality video.
Optimize your videos by using keywords. It is essential to have a unique title for each site uploaded to. You must make sure to include their targeted keywords too. Also, include your contact information so customers can reach you for more info.
You have a limited amount of time to capture the attention of your viewers. That’s why the first few seconds are so important. This is the place to have a unique perspective and hook the viewer.
Working with a team is a helpful way to make video content. You don’t have to just use people you work with. You can also try loved ones or people you know in your community. Be sure to include their names in the credits at the end to give them some publicity.
How-to videos are ranked as one of the highest searched topics on the web. Having tutorial videos creates an avenue for those who search in your niche to find you. Once they respect you as an authority, they’ll want to know more.
Omit any information that is off-topic or not important. When not properly prepared, straying from the topic is common. Put together a detailed outline and include all the points you want to talk about. Being focused is going to help you have video marketing success.
When you go to a convention or other event, bring along the recording camera. You will probably have the occasion to interview some experts or simply document your experience at this event. If you are giving a public talk, make sure someone records it.
As you can tell by reading this article, video marketing is not really hard. The only thing that you have to do is learn all you can about …
There are literally millions of people out there who have a hard time with their finances and wish that they could be the boss. Unfortunately, many people have no idea of how to make this wish come true. Making money online is the solution. Read on to learn more.
Figure out the niche that you are in first. Do you think you are a good writer? Become a content writer. Are you good at graphic design? A lot of folks might hire you for website or document projects. Look around to find what you want to do.
Make out a daily schedule. Your income is absolutely tied to working hard daily. This is no quick fix to tons of cash. You have to be willing to put in the effort each and every day. You need to have a time established daily for focused work. Over the long term, just an hour each day will really add up!
Consider surveys as an option. There are a plethora of surveys to pick from on the Internet. These are a good source of online income. Depending on the site, they usually don’t pay much. This is easy when you have some down time, and that money can quickly add up.
Tutor if you are very intelligent. Therefore, if you want to be able to work online from home, then consider e-teaching as a viable option. Sites like TutorVista and SmartThinking allow you to put your knowledge to use. You could even open up new career paths if you do a good job.
You can always just search Google for pointers about making money. This will give you a huge variety of ideas and options. Once you find something that sparks your interest, be sure to do a thorough search about reviews about that company. No matter what your choice is, you should take your time with things.
Flip domain names. A lot of people make good money off domain names. It is sort of like purchasing real estate, and you will have to spend some money. Google Adsense can help you find out what is trending. Buy domains which can be acronyms. Predicting popular domain names of the future can be quite profitable. Give it a try!
Never pay money out of your own pocket when earning money online. No company which is legit will ask for money up front. They will have little to offer you once they get their money, so don’t fall for websites that offer “memberships” to be able to access their list of supposedly great paying jobs. Be sure to avoid these companies.
Write your own Ebook for selling online. This is a great way to get people to know that you have knowledge of a subject while making some money too. A collection of recipes is a great idea for an E-book.
Online money making is quite possible. With the knowledge you have gained from this article, you can begin making money as early as today! …
The Internet has made is easier than ever for businesses to interact with customers. Email marketing is one method that is effective at maintaining customer relations. Use the advice from the article, below, to launch a successful email marketing campaign.
Each message needs on clear message. If your email has too much information, clients will feel annoyed, bored or even overwhelmed. Create one simple message that is short and direct to the point. In the end, your customers will be thankful for being given the information in a concise and organized manner.
Keep your customers interested in your emails by offering promotions. Email marketing makes your readers feel more valued, as well as encourages them to invite friends. Consider giving even greater discounts to those readers who do refer new customers.
Keep things consistent. Be consistent in your emails, using the same colors, and always including the company logo. Always use a legible font. With enough exposure to them, your subscribers will come to find your consistent emails distinctive and start paying more attention them. Familiarity counts even more for email marketing campaigns than it does for other businesses.
It is a very good idea to require people that are interested in receiving emails from you to double opt-in. Although it is an extra step for your customer, you can be more confident that your customer is genuinely interested and it also reduces the risk of trouble with your email provider for spamming.
Don’t use too many graphics in email marketing materials. Many email programs will block out graphics, making it a waste of time to utilize them. If your email contains graphics, it is also much more likely that it will be sent to a junk folder instead of to a potential customer’s inbox.
It is important that you get adequate permission from the people you are going to send emails to. Disregarding this can not only cost you your current customers, but also any future customers who correspond with this one. Certain Internet service providers will blacklist you which will harm your marketing efforts and ultimately your business.
Encourage your customers to buy from you by offering rewards in your emails. Give your customers a compelling reason to give their business to you instead of your competition. For example, clicking on a link and making a purchase could award them free shopping.
It is critical to get someone’s permission before putting someone on your list for email marketing. If not, consumers will think you are spammer and throw your communications in the trash. If your email provider receives enough complaints, they could even drop you for violating their spam policies.
Don’t forget to include an effective call to action at the end of each email. Your readers need to understand what they need to do by you simply telling them in your emails. If you are including links, ensure that they are obvious, and make sure that you explain how these links can be utilized. You can repeat …
Before trying to use email marketing for your business, you need to know how it works. Avoiding the spam folder and making sure that your customer actually reads what you are sending is crucial. Read on to get more great advice on email marketing.
Send emails to people who are familiar with you and request your notifications. When you do a mass mailing to random recipients, they are often received in a spam filter. They will wonder if they know you and whether or not they care about what you’re offering. They’re likely to delete your email, wasting everyone’s time.
Make sure you include limited promotions and special offers in your newsletters; this will keep your customers interested and always on the lookout for future emails. This email strategy has the dual benefit of rewarding your customers for their subscription to your newsletter and inspiring them to recommend that their friends and family do the same. Referrals are an invaluable way of increasing your email list and customer base.
Utilize various resources and learn as much as you possibly can about the concept of email marketing. There are lots of books both online, as well as in libraries. In addition, lots of local classes and workshops can be discovered in your area. Therefore, it would help you to attend these when you can.
Prior to contacting customers through email, be sure to obtain their permission to do so. All unrequested emails are spam, whether or not that was the intention of the sender. Sending out emails to large groups of individuals without permission might violate ISP policies.
Keep in mind that the ultimate goal with email marketing is to get your product sold. Thus, each and every message ought to increase the likelihood of a sale. Do this by creating emails that offer product information – new and old – as well as information on special discounts.
Don’t send more than one email marketing message per week. Most likely, your subscribers receive dozens of emails every day. Customers may skip your emails if they receive too many of them.
It is wise to have a clean, unsubscribe link. Don’t fail to include one or bury it so that it is not readily apparent. It is important that your customers feel in control and that they aren’t being forced into anything.
Remember, that many of your email subscribers will be reading your mailings on mobile devices, like smartphones. Many mobile devices have lower resolution than the average computer monitor. Figure out what your restrictions are and then work within them.
The emails you send out should entice your customers. Customers who get something out of working with you are more likely to buy from you. For example, clicking on a link and making a purchase could award them free shopping.
By following the tips found here, you can produce a campaign that is reader worthy. You can use these tips to improve your current projects or start working on a brand …