Small Business Advice every Business Owner Should Hear

(Newswire.net — September 1, 2014) Adelaide, SOUTH AUSTRALIA — Small business advice comes in all forms. Accountants, lawyers and business consultants all have something in the way of advice to offer the small business owner. But sometimes business advice is great in theory, but not always practical. Rick Nash, CEO of YourGM, shares four valuable pieces of advice for any small business owner.

 

Despite how in depth the Internet is in our everyday lives and society as a whole, more than 50 percent of small businesses in Australia do not have a dedicated business website. “No matter how small the business, a website is a vital necessity in today’s world” said Rick Nash, CEO of YourGM, a successful business management and consultancy service based in NSW.

 

Many of these business owners believe that, because they are small with only a few or no employees and their product is not something that is sellable online, they don’t feel any need for a website. Above anything else, a website offers credibility. These days, a potential customer is not going to take seriously a business that has no online presence, especially when the competition does. A website provides customers with useful information and an idea of who the business is and what they do.

 

Not only should every small business have a website, the site must be mobile friendly. Considering 60 percent of consumers use their Smartphone to search for local businesses, a business who is not up with Internet technology is losing customers to those competitors that are.

 

“So often I see small business owners believing that they can cut costs by doing their own accounts, including payroll, profit and loss, GST and personal taxes” said Rick Nash. “More often than not, these business owners are the ones who spend more time and money in doing the work themselves than what it would cost to hand it all over to an accountant.” When you consider the Australian Tax Office carry out hundreds of thousands of audits each year, the importance of having accurate and organized taxes is very important for all small business owners. Outsourcing accounts is usually far less costly than many realize.

 

Along with the importance of having a website, and a mobile-friendly one at that, another vital piece of small business advice Rick offers is for business owners to harness the power and effectiveness of social networking. “Social networking is now a fundamental marketing tool for any business, no matter their size.” Research statistics reveal that around 72 percent of adults are active on social networking sites like Facebook and Twitter. “For customer loyalty, showing a more personable side to a business is key” said Rick. “Utilize the power of social networking to connect with customers and engage them in your product or service.” Connecting with customers in this way is also one of the best and most effective ways to deal with customer complaints. Publicly dealing with complaints will keep customers coming back to you time and again.”

 

The fourth piece of advice Rick has to offer small business owners is to consider the competition. Look at the statistics on Australian businesses. According to the Australian Bureau of Statistics, there was over 2.1 million actively trading business during 2012. Of these 2.1 million, 96 percent are small businesses. “These statistics may just look like a lot of numbers on the surface, but anyone looking to start up should consider their potential competitors and identify what their particular point of difference will be” said Rick.

 

Owning a small business can raise many challenges, but it can also be very rewarding, both financially and personally. Despite high failure rates and other negative statistics that surround small businesses, the right advice is a key step towards building a successful small business in any industry.

A unique and highly effective business management and growth service, YourGM provide business owners with the right advice tailored to suit their business needs. With access to a number of select business experts, YourGM are dedicated to help you manage and grow your business, and all for the cost of one employee.

 

Offering practical support and advice, the experienced team at YourGM work alongside you for every aspect of your business. From short term consultancy to long term management, YourGM work with any business no matter the industry, assisting in everyday business management, giving you the freedom to focus on growing and developing your business.

For more information and a free consultation from YourGM, contact Rick Nash via jason@newsworthyvideo.com