You have a startup and it has great potential, might even be the next big thing. So how do you upscale for significant growth in the beginning? Why are some of these tech startups seeing what seems like overnight success going from $0 to millions in a couple of years? The answer is often through an accelerator program.
Despite accounting’s boring reputation, it can't be emphasized too much how essential it is that your business follows best practice accounting principles right from the start. No matter what size your startup is, there are some fundamentals that even the smallest self funded startup should be applying from the get go.
To keep your people costs down it can be beneficial to automate as many of your processes as you can.
You have just started in a new business and you want to make your mark, stand out from the crowd and make a good first impression in your industry and with clients. Here are 5 things you can do straight away to set yourself apart:
In a few years it will be hard to find a business or person that isn’t touched by Virtual Reality ("VR"). In fact, if you are using Siri on your phone or have Google Home or Amazon’s Alexa then you already have virtual reality in your life.
Startups are difficult at the best of times, but there are some issues that are unique to the world of tech startups. We have broken these into two sections, financial viability and strategic advice.
Whether you need motivation to transform your idea into a functioning business or you just need a little boost when you’re down, it’s always good to seek wisdom from bright and successful minds who have experienced it all before.
Recently, I heard one successful entrepreneur say “If you don’t want to work ON YOUR startup for at least 10 years, don’t startup at all”. This was meaningful to me because, as a business owner myself with more than 25 years experience in entrepreneurship I can easily relate with that sentiment.
Your relationship with your accountant should be a long term, trusting relationship. They should have a good understanding of you and your business in order to assist and advise you in the best possible ways. Not all accountants are the same, and it is therefore important that you choose an accountant that is right for you and your startup. Here are our tips on things to consider when choosing an accountant.
When setting up a business there are hundreds if not thousands of tasks of varying size that need to be done or considered. When you haven’t even got a client yet it is hard to consider that you need good terms and conditions. Many entrepreneurs think those sorts of things can wait till later.
The startup economy is booming in Australia. Driven by innovation it is tipped that by 2033 startups will play a huge role in our economy by contributing as much as $109bn or 4% of GDP and 540,000 jobs.
With this increase in numbers, the failure rate of startups is likely to soar. A report by the International Business Times in May 2017, suggested the failure rate was 50%. One of the reason for this was due to Capital Issues. So can you ensure your startup doesn't fail due to financial reasons?
Finances are always an issue with startups. In fact, good habits can often mean the difference between a start up that thrives and one that fails. So how do you give your start up the best chance at survival? Here are our top 7 tips for creating strong financial habits: