4 catastrophic errors entrepreneurs make with their business partners

More and more aspiring businessmen would like to start their own business but do not have enough capital needed for their startup as well as the skills needed to properly manage the business. This is why they decide to work with a partner or more.

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Successful Partnership

Partnership has become one of the most attractive forms of business legal structure here in Perth these days. Aside from the fact that partnership allows the owners to manage their business easily, partnership is also easy to establish and requires less requirements.

However, there are certain key things business partners have to consider in order for their business to become successful. To a new venture, the most important and the first step to consider is to find the right business partners.

When finding a partner or partners, look for those whom you have successful stories before. Great business partners almost always have had a prior history of working with each other. The more closely they’ve worked together, the better. But if you found a promising person but you don’t have that kind of history yet, you can still get him. Work on small projects together, or at the very least, spend a lot of time together before you agree to do anything. It is important that you build chemistry before immediately starting your business.

Once you’ve found someone whom you can build great chemistry with, the next step is to agree on a vision. You must agree on what you want to achieve both their short-term understanding of the company’s value proposition, and their long-term understanding of how they think the venture fits into the world.

Then, partners should avoid having contradicting styles. Having several methods on problem solving and creating new opportunities is a mistake. Instead, have compatible styles.

In order to become successful, partners need to avoid doing certain mistakes with their partners that could ruin their business. What are those? Click here to know: https://www.flyingsolo.com.au/startup/business-partnerships-legalities

First home buyers must-haves to keep the whole family happy

So, your family is finally ready to buy your own home. This is truly one very exciting time for your husband or wife, and kids but at the same time could be very stressful experience.

When there are a million first-home related questions buzzing in our brain, what are the most important ones you should be asking?

During this stage, there are a lot of questions to ask yourself. Here are some:

  • How much is your budget?
  • How big of a house your family needs, or do you want?
  • What neighbourhood will you choose? Are you safe there?
  • Will your new house be near to where you work or your children’s school?

These are the most common things every homebuyer thinks about. If you also face such issues with your home buying, you are definitely not alone. Fortunately, there are some home buying tips you can do in order to ensure you get bang for your hard-earned dollars.

When buying your own new house, the first thing to consider is how to find one that suits your lifestyle. This is very important because according to a Perth-based study conducted by RESIDE, where you live significantly impacts your health. According to this study, homeowners who live in places with access to public parks and connected streets were more active hence are healthier compared to those living in crowded areas where exercising outdoors are impossible to do.

The next step to consider and is probably the most important is the budget. Sure, buying your first home is one happy life event. However, it is also one hefty financial commitment you’ll make so you will be required to have intensive research and budgeting in order to prevent mistakes and regrets. Keep in mind that you’ll be spending a lot of money for your home, so you really have to be extra careful.

When buying a new home, you should have an answer to each of the questions mentioned above. Otherwise, you’ll be ending up full of regrets wishing you could have done better.

For more on home buying tips for families, check out this nice article from PerthNow.com: https://www.perthnow.com.au/lifestyle/home-decorating/first-home-buyers-must-haves-to-keep-the-whole-family-happy-ng-b88925033z

Save the furniture from scratching pets

Do you have problems with your home furniture? Do they get scratched so easily by your children or even pets? If you are one of those homeowners who spent a lot of money on their home decors, and are looking for ways on how to preserve your pieces of furniture at home, you need to learn these tips.

Kitten on hind legs against scratching pole.

Caring for home furniture is not only smart and responsible, but it saves money. With the recent national economic woes, many homeowners are trying to find new ways to cut costs such as saving their water and electricity consumption, but this solution is arguably less difficult to do than the previous two.

The life of your furniture can be extended considerably if you know proper care. After all, you won’t have to allocate funds to replacing worn out furniture when it could have been avoided with a little extra care.

The first thing to do when taking care of your furniture is to make sure that it is cleaned regularly. If your child spilled his chocolate drink on your chair, it should be cleaned promptly. Otherwise, the liquid will dry up and turn into stain that is extremely difficult to remove.

All of us know that regular cleaning is important, but do you know how does it prolong the lifespan of your furniture? By regularly cleaning furniture, you don’t have to use cleaning products that contain harsh chemicals, which will damage furniture over time. Making office furniture last also requires paying attention to how different pieces should be cared for. Keep your furniture out of direct sunlight no matter what type of material it is made as sunlight can result fading and cracking.

Moreover, you need to regularly inspect furniture for any screws that are loose or parts that need to be fixed. Aside from safety, tightening loose screws and bolts helps prevent furniture from falling apart.

One major problem that homeowners face is looking for ways to save their pieces of furniture from scratching pets. To know how, read this: https://thewest.com.au/lifestyle/pets/save-the-furniture-from-scratching-pets-ng-b88828325z

How Alex Louey and Nick Bell turned a $3000 app start-up into $25 million business Appscore

Young rich lister Nick Bell is the co-founder of Appscore.

Many people made the right decision to become entrepreneurs and have found success in business. However, despite the fact that entrepreneurship is a great way to build wealth, many are still leery to start their own small business. Why? That’s because they are afraid of to fail.

Well, starting a business might really be a risky decision. According to a certain study conducted by Forbes.com, every month over half a million small businesses in the United States while more shut down that startup. With this stat, it is really not a surprise why people are hesitant.

Starting a business (whether retail store, a home-based shop, or a tech) is not something that should be entered into lightly. More often than not you’ll go through a long period languishing while trying to make your business viable. As with many big decisions in life, starting a business is a very big risk.

Just like any other aspect in life, there is never an assurance of success in business. Rather, it is expected and statistically likely that you’ll fail. However, if you’re willing to work at beating the odds and fulfil a professional goal, this may still be the route for you.

Talking about how to overcome the challenges brought by startups, I’ll share to you an interesting article that I’ve just read from The Sydney Morning Herald. It’s about an App startup company that started from $3,000 and is currently valued at $25 million.

Read the full article right here: http://www.smh.com.au/small-business/smallbiz-tech/how-alex-louey-and-nick-bell-turned-a-3000-app-startup-into-25-million-business-appscore-20171107-gzgp15.html

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First home buyers must-haves to keep the whole family happy


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All of us want to be the guy who seems to never run out of cash. Well, becoming that person can be difficult if you are not born rich. Luckily for us, being able to free yourself from worries about your financial issues can be done even if you are not born wealthy – this is through being wise enough to know where every cent goes.

For the majority of average citizens, budgeting is the most important aspect in planning both in personal life and in business undertaking. This is also true even to those who have high monthly incomes because drawing up a budget can help you determine proper way, time and place of spending.

Knowing the real value of spending is the first rule of budgeting. You should know how to prioritize your needs and knowing exactly what is necessary in your daily life. Being able to do this would be a great help in drawing a clear budget.

If you want to save money, you should analyse and review every item in your household, especially those items that entail large costs, whether it is necessary or useful in the course of your everyday activities.

Keep in mind that misspending is the reason why many get broke even those who used to have a lot of money in the past. For more on proper spending, read this: https://www.moneysmart.gov.au/managing-your-money/budgeting/spending

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Seeking support from others can bolster your business through shared experience and sound advice

7 reasons no one’s reading your blog (and how to fix them)

To many, creating a blog is only for people who want to have an ongoing diary that is published online. These people believe that blogs could not have any advantageous effect on their business. But the truth is; while there are people who use blogs for that purpose, both large and small companies are now using blogs to reach their market, build an audience, gain online visibility, and promote their business.

There are many of ways that can possibly contribute to your business’ success. However, one of the easiest, most proven, and most cost-effective ways to do this is by creating a successful blog. Blogging, if done correctly of course, can give tons of benefits to your business.

How? Blogging is an excellent way to generate high number of traffic to your business website. It generates and builds huge traffic of visitors to your website on a daily basis. When this happens, you will generate better sales for your business.

Blogging is not difficult, unlike what most business owners think. Blogs for business are simple to set up. It is also cheap because you can set it up free of charge. These are the reasons why one cannot understand why some businesses do not use blogging to promote their products and services not only here in Perth, but to other places around the world. Even if one does not have much technical skills, a blog can be set up. It is a matter of adjusting some settings.

Another advantage of such online marketing strategy is that when you own a business blog, you got a place wherein you can effectively answer all the questions of new clients, which is ideal for introducing new products or new features of an old product or service.

Meanwhile, there are also many possible mistakes that could kill your business especially if you are a startup. If no one reads or visits your blog it is basically as good as nothing. To avoid these mistakes, you should check out this article: http://www.flyingsolo.com.au/technology/business-websites/content-marketing-small-business-blogs

Seeking support from others can bolster your business through shared experience and sound advice

Eire Cafe and Eire Pies owners Stephen Lowery and Zoi Kokoti found a mentor in a previous Telstra Business Award winner. Pic Naomi Jellicoe

In entrepreneurship, there may come a point where you are unsure of your next steps whether you are starting a new business, or expanding an existing one. When you have a mentor who will guide you in your business management, it will help diminish the doubts you may have regarding certain decisions.

Who is a business mentor? Basically, a business mentor is an individual who got numerous years of experience in the entrepreneurial field and is capable of guiding other business owners and managers with their ventures. As you strategise your way through the ups and downs of your business, this person becomes your trusted confidante. Depending on the type of counsel you are looking, this mentorship may last for several months, or even years.

The services offered by a business mentor are usually provided free of charge as a means of giving back to the community at large. And having a business mentor can dramatically transform the way you manage your business.

One of the most important benefits of having a business mentor is that you can learn from his past mistakes. Your mentor has achieved his high ranking business status due to mistakes made in the past. He may have made decisions without having a clear idea of what direction he should take. In such cases, he may have made decisions that cost him lots of money. Your mentor is in the position to share his personal business experiences with you, so that you can avoid such setbacks from occurring in your business. This will allow you to establish or expand your enterprise in less time.

Another advantage of having a business mentor is that he can provide you with emotional support. When you own a business, don’t simply follow orders and base your decisions from your bosses. Instead, you work on your own because you have no one to turn to for advice on what’s step to do next. Now that you are finally an entrepreneur, the ball is in your hands and you can decide the outcome of your game. Your mentor can fill the gap by providing you with emotional support. If you require a second opinion on a matter, he can provide you with the clarity required to move forward.

In addition to the mentioned advantages, having a business mentor also helps you in expanding your network. That’s because as your relationship with your business mentor develops, you may have the opportunity to meet other business owners in his network.

In an article published by PerthNow.Com.Au, there are many other benefits you may get when you work with a business mentor. According to the article, shared experiences and sound advice are the biggest advantages you can get as they can bolster your business.

You can read the full article here: http://www.perthnow.com.au/business/small-business/seeking-support-from-others-can-bolster-your-business-through-shared-experience-and-sound-advice/news-story/1b9e1d64a51745fc725c4dda5a8fddf0

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First home buyers must-haves to keep the whole family happy