Tag: business strategy

How to Apply for Business Grants Online in Australia

Raising funds is one of the most important things to think about, whether you are a startup looking to develop a mobile app or an established business that wants to take it to the next level.

There are plenty of options available to do this these days, from finding investors, creating a crowdfunding campaign or even borrowing money from friends and family to raise funds.

One great way to do this is to apply for a business grant from the Australian Government. Business grants can provide you with funding anywhere from $500 to $2,000,000, depending on the nature of your business. Although it takes a considerable amount of effort to apply to one, it is well worth the time as the business grants are non-repayable, unlike investors who would typically demand partial ownership of your business (equity) or request repayments depending on their contract with you.

1. Access the grants website business.gov.au/Assistance

Depending on the nature of your business, you will want to apply to a different set of business grants available. On the Grants & Assistance page, there is a form that will help you search and list the most appropriate grants for your type of business.

2. Select the reason for your application

This is where you will choose the reason for applying to your business grant.

  • If you are a startup / business that has only an idea but is looking for a grant to research and develop your idea into an actual product, then click on “research and develop a novel idea”.
  • If you are a startup / business that wants to expand their existing business or to scale, then click on “expand my business”.
  • If you are startup / business that has an existing product developed, understands your market and has intellectual property rights to your product, you would want to “commercialise a product”.
  • Similarly, if your need for a grant relates to Aboriginal and Torres Strait Islanders, Arts, Disaster Assistance, heritage projects, hiring more employees, training existing employees etc. then select the appropriate categories.

3. Choose your State, Industry, Annual Turnover and Years of Operation

Your selections here will also influence the type of business grants that the website will suggest you apply for.

Not all grants are necessary for you to apply for, especially if your startup / business is within a certain industry. Some grants are only offered to applicants who are within a specific industry or specific lifecycle / stage of their business.

Click on the “Show Assistance” button and the website will list the grants that are most relevant to you.

4. Go through the list of suggested business grants

Click into every business grant that is listed to you and have an in-depth read of the requirements for each grant.

Inside the business grant information, you can click on “Tell Me More”, which will give you information on:

  • The overview of the grant
  • Who the grant is targeted towards
  • Who can apply
  • The eligibility criteria
  • How to apply.

5. Commence applications on relevant business grants

Once you have read through the list of suggested business grants, decide which ones you may want to apply for. Choose the most relevant grants for your startup / business that you should apply for and don’t waste time on ones that aren’t, as it is time consuming to try apply for every grant and you will need solid detailed research and solid preparation to build your grant application.

Depending on the business grant, you may be able to apply directly on the website or you may have to contact an external government department to start your application.

6. Do enough research and preparation before submitting the application

Make sure you do enough research to back up why the government should provide you with the business grant. Your should:

  • Have prepared a professional, but unique application.
  • Have outlined a solid business strategy.
  • Understand all the necessary requirements and upkeep for the grant.
  • Make sure the grant is the right fit for your business.
  • Keep an eye on the grant deadlines.

Considering the high number of applications for Australian business grants, half-complete applications or ones that aren’t thoroughly researched enough will most likely be rejected.

 

Key Considerations To Take Into Account Before Building A Website

Your business website is the first impression you make to prospective clients that get in touch with your company, for the first time. And first impressions always matters. In fact, here are some key statistics to prove it:

Did you know that:

  • Approximately 96% of visitors that come to your website are not ready to buy.
  • Approximately 97% of consumers use online media to aid their purchasing decisions.
  • The more landing pages you have, the more leads you are likely to get.
  • A 1 second delay in your site speed can result in a 7% reduction in conversions.

But running a business is no small task, not to mention the skills needed to achieve the proper web development skills to drive your sales. Before you think about designing or re-designing your ‘first impression’, you need to take into account several considerations. Some of these key considerations refer to areas that deal with: accounting, management, sales and marketing skills.

Working with a complete solution provider vs. working on your own

For someone who is not tech-savvy, the idea of creating a business website sounds like the least desirable task to start working on. There are proper solutions your company can take into account, and one of the most results-driven and efficient one of this kind is the experience a well-versed web design company can provide.

Which are the key considerations you need to take into account prior to building your business website?

Your business goals

Establishing the goals for your organisation is the first step you need to take in order to help define, clarify and analyse your marketing efforts and compare them to the results you achieve.

Make sure you have a specific answer to the following questions:

  • Who is your target market?
  • What is your product?
  • Where will you sell your product?
  • When do you want bring the product to market?
  • Why are you starting your business?

 

When you set certain goals for your organisation, you streamline communications from within your company and align your internal teams with a common vision.

Make your Website user-friendly

The main consideration regarding this point should be creating a clean and easy-to-navigate website, no matter what industry you are representing. Some of the key elements that you need to incorporate into your web design process are represented by lightboxes, white spaces and also big font characters.

Make sure your visitors are able to easily:

  • Read content
  • Navigate from page to page
  • Subscribe to your email list
  • Leave comments
  • Share your content

 

Did you know that 29% of sites fail to comply with basic usability principles, and 50% of online sales are lost because visitors can’t find content?

When does too much content become an issue?

There are plenty of business owners, in particular small businesses, who strongly believe one can never have enough content to display on their page. However, too much content has the potential to diminish the number of visitors your website could be having.

According to Marketo’s VP of Marketing, Jon Miller, “The challenge is maintaining a high bar of quality; if your content is not relevant and useful to your target personas — in other words, educational and entertaining — more content might actually hurt your efforts. Buyers are already overwhelmed by brands competing for their attention; don’t make it worse with irrelevant content.” 

Furthermore, receiving too much data at once, can instantly lower the quality of your web design. Consider focusing on a minimal amount of information located on the homepage and delivering only the most primary content about how your business should and can solve the customer’s need.

Your website is the first source of information for your prospective clients and it should play a crucial role in establishing the successful outcome of your business project.

In fact, 44% of online shoppers begin by using a search engine, and 61% of global Internet users research products online, according to Ispos.
With that in mind, if you need professional assistance and support in creating your business website, do not hesitate to contact us here. We can provide you with optimised solutions to cater to your every professional need.

Finding The Right Outsourcing Partner

Although it has been considered as a frightening proposition by a lot of business owners who misunderstand the concept, outsourcing can have a strong, positive impact within any organisation: it can improve efficiency, reduce costs, speed up the product development process and allow companies to focus on their initial, core competencies.

When considering a partner for a strategic outsourcing alliance, there are some key elements that you should be aware of.

Should you invest in outsourcing?

Over the past 25 years, the outsourcing industry has grown from zero to a multi-trillion US dollar business worldwide. This fact alone should give you a new perspective on the idea of choosing an outsourcing partner for your company.

Furthermore, according to the Information Services Group, annual global revenue from information technology outsourcing is estimated to amount to between 60 and 70 billion U.S. dollars. (Source: statista.com)

Here are some additional values of working with an outsourcing partner:

  • it enables an organisation to achieve business objectives, add value, tap into a resource base and mitigate risk
  • it concentrates on the core process rather than the supporting ones
  • it reduces operational and recruitment costs

 

How do you know you have found the right outsourcing partner?

Best practices for finding the right outsourcing partner to your business include:

  1. Your company’s ability to attract and retain talent
  2. A good understanding of their existing processes
  3. The company’s plans and efforts to keep their employees up to date with the latest advancements
  4. Keeping a healthy company culture
  5. A vision that identifies itself with your own company’s goals.
  6. Your employees’ willingness to adapt to the company’s changes

If you want to make sure you have found a reliable outsourcing project for your business, get ready to ask the right questions.

  1. Reliability

Asking for details of the company you want to do business with is crucial when it comes to outsourcing. Make sure you receive a satisfying answer to the following questions:

  • How long have they been in business?
  • How many offices do they have?
  • How many employees work for them?
  • What is their history and experience in the business?
  • Who and where are the employees located if they have multiple offices?

 

  1.   Project Experience

For a better understanding of the company’s professional integrity, you need to know what types of projects they have worked on in the past. Be sure to know:

  • When was the last time they had someone working on a similar company project?
  • Will that respective team of employees be working on your project as well?

 

  1.  References

What do your client references have to say about the company’s customer service department and how do they handle bad reviews?

 

  1.   Additional costs

You need to be aware of any hidden costs that could be found in implementation, testing, training, connectivity, infrastructure, transition and so on.

The right questions to be asked here are:

  • Did they ever work on fixed cost engagements?
  • What is needed to get a fixed cost pricing on a project?

 

These are just some of the questions that require a valuable response from your prospective outsourcing partner.

Outsourcing can have plenty of advantages for your business. From growing the company to saving capital, finding the right outsourcing partner can help your business focus on its core activity and become a leading tool in the management process, within the organisation.

 

If you need professional assistance and support in finding the right outsourcing partner for your business, do not hesitate to contact us here. We can provide you with optimised solutions to cater to your every professional need.

The Essential Financial Planning Template For App Development Startups

You may think that starting your own company is a daunting task. Apart from the necessary planning and market research that needs to be done, the financial side of things requires a lot of focus and determination. Are you ready to be all in?

To ensure their success on the market, business startups also need a dedicated mobile app for complete customer reach and an increased profit. But an effective mobile strategy requires more than just a mobile-friendly website.

Did you know: According to a recent study by Knicket, there are approximately 40,000 new app releases every month, with an estimated 200 billion app downloads per year by 2017. 

Planning the budget for your app development startup

Financial planning is crucial for the successful outcome of any business. An efficient business planning template for app development should include ideas about:

  • how much money will be needed to get off the ground.
  • what to expect in the first few years in order to best allocate the available resources.

 

Additional planning for developing the app could include suggestions regarding supplementary staff, premises (or work-from-home) or any other type of additional software or equipment.

A short overview of the costs involved in the mobile app industry

84.5% of Australia’s mobile phone population has accessed the internet using their mobile devices in 2015, alone. This speaks to the powerful source of influence and conversion that the mobile industry is capable of.

Here are some interesting facts regarding the costs and revenues involved in app development:

  • 76% of Apple’s App Store revenue was made from in-app purchases in 2013.
  • 38% of iOS’ apps are paid while Android has 31% of apps as paid on their platform.
  • The App Store has approximately 20,000 apps which cost more than $6.99.
  • The average cost of an app is $1.47 on iOS, compared to $3.74 on Android.

Forecasting the real costs of your app development startup requires rigorous financial planning and a reliable view of the market. To get things started, you need to create a plan for business in the real world.

These are the steps that need to be taken in order to achieve just that:

Start-up costs – Depending on whether you are a sole trader or not, the start-up costs don’t account for a great deal of money. Instead, think about calculating costs based upon the situations presented below:

  • what your wage is
  • the marketing costs involved
  • the development costs involved
  • hiring an accountant
  • how will you raise startup funds (for example, through crowdfunding, banks, venture capital firms).

 

The budget for app development – In other words, what are the costs involved in the development of the app and the budget allocated for it. Think about the platforms your app will be launched on and the submission fees and processes included.

Submission fees – If you want to submit an app to the iTunes Store, for example, you will need to sign up for a developer account first. Each platform has their own submission fees and additional benefits included in their program.

Monetising the app – From signups and emails to efficient advertising and multiple payment options, monetising your app is crucial in order to transform your startup into a profitable business.

The marketing process – This is what makes your app go viral! If you want to market your app accordingly, think about:

  • getting good reviews
  • having a good SEO
  • reviews from bloggers prior to the app’s official release
  • advertising through social media
  • having a great social presence

 

The successful outcome of your app development startup begins with a good financial plan. EB Pearls can help you develop a powerful and efficient financial planning template for your app development startup. We’ve got app developers in Sydney and Melbourne Contact us here for more information regarding app budget and revenue suggestions.