Start a new business
Congratulations on deciding to take the leap and go out on your own. It’s usually the promise of ongoing work from 1 or 2 builders or property managers that gives people the confidence to make the move. This puts you in a vulnerable position and its imperative that you lay the right foundations here to quickly establish yourself outside of a small handful of clients.
You’ll be able to operate on competitive margins as you don’t have large overheads or sales and marketing costs. But with most of your revenue coming from 2-3 clients, you could find yourself in a position where you’ve lost half your income if one of those relationships turn sour.
This Start-Up program is what you need to create a solid online presence, set up your basic systems and get the phone ringing.
Work off an ABN
A sole trader/partnership with 1-2 offsiders is the classic trade business set up and the most common structure of all small businesses in Australia. Usually as the owner you’re working on the tools with one or 2 other offsiders/apprentices and could be turning over anywhere up to $300k a year. The majority of your work is mostly coming from a handful of clients or builders and you know the moment you get off the tools that your business will struggle to remain profitable.
Working with offsiders under your direct supervision usually makes for an efficient team whose profits could sometimes compete with much larger businesses. However, productivity on job sites tend to go down when you’re not present leaving you with shrinking profit margins.
At this stage it’s relatively easily to implement change in your business and you have the opportunity to mould the business from the ground up but because you’re wearing almost all of the hats in the business you’re extremely time poor and the thought of hiring more staff is quite daunting.
With this Start-Up program, we can establish a strong online presence, make new hires, get your policies in place and coaching to help guide you on the path towards 7 figures.
Whether you’re working on an ABN or are part of a company, integrating the latest business apps into the way you do things can directly