Intro

There are a thousand ways you can promote your business, but what really works and what do you need to think about before you get into the nitty gritty of setting up a marketing plan? Setting up your business correctly is one of the most important things you can do and will help you to avoid pitfalls later down the track. Understand what you need to do and use our simple task list to make it happen.

If you are starting a new business you need to go through a checklist of things to ensure you have set your company up correctly and that your processes, templates and organisational structure is in place before you start making sales.

Definition

The set up for a small business includes things like setting up an ABN with the right structure, registering for GST, registering domain names and trademarks, deciding on price and position of your product or service. You should check to see if you are eligible for any government grants, write down your 90 day, 1 year and 5 year business plan.

Benefits

Getting the basic structure is key to running a successful business from the outset. You will start on the right foot and be able to forge forwards faster.

Pros

• The investment will pay off
• You may find out that you are eligible for a grant
• You will have a sense of direction and purpose

Cons

• It is necessary by law to set up properly.
• It takes time to do
• It does cost money to set up
• Grant applications are lengthy and you probably need to match the money offered to be eligible.
• Business Planning takes time, research and thought

How to Implement this into your Business

• Use our simple to use task list which is added to your marketing plan once you click on “Add to my Marketing Planner”
• The task list will give you a number of simple tasks to complete to ensure you set your business up properly.

Tips

If you register for GST you will be able to claim all of the GST on the purchases you make for the business. If you don’t register for GST (only those businesses who earn under $75K apply) you will not be able to claim anything. So think about what you are purchasing in your first year to set up because it may be worth registering.