3 Reasons to start your own small business

Reading time: 2 mins Read time

In Australia we have over 2 million small businesses and counting. Here are three reasons why so many are taking the big step:

All people are businesses

Think of yourself as a business. Your skills, knowledge and experience is the product you’re selling. When you’re employed full time you’ve sold all of your products to a single customer. In today’s fast moving economy relying on a single customer puts you on shaky ground. Starting a small business is a way to create additional revenue streams.

Anyone can start a small business

In today’s connected world, an idea and an internet connected mobile device is all you really need to get started.  The internet and the size of your network it connects you to will help you test ideas and build cash flow, skills and knowledge.  You now have access to 40% of the world’s population from wherever you are and it’s all about how efficiently and creatively you use your network.

Anyone can build a successful business.

The definition of success has changed and is no longer confined to revenue, profit or market share.  Today it is all about flexibility, mobility and satisfaction. Minimal start-up costs and the ability to run the business flexibly means that anyone can start small and gradually build the business by testing learning and adapting. This minimises the risks of failure whilst at the same time develops vital skills and experience.

It’s not about writing a business plan before you start it is about building a real business model testing it and creating real-time evidence of how the business works, unlocking opportunities and dealing with issues before they become fatal.

Understanding what is happening in your small business finances will help you do exactly this. Sage One can give you a birds-eye view of how your business is trading, payments outstanding and more from wherever you are. Try it free for 35 days. Go to www.sageone.com.au


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