How to grow your Sydney business
Are you a fellow Sydney sider who’s always had an urge to create? Maybe you’re sick of the 9-to-5 grind, and want to be your own boss? Or perhaps you’re an established start-up that wants to catapult their business to new heights of profit, performance, and exposure? Either way, we’re here to help you make your mark in the Sydney business landscape!
Business plan Sydney - why start one?
As the largest economy within Australia, Sydney has earnt a reputation of being Australia’s top destination for global meetings. Research demonstrates that small businesses are integral to the Sydney economy. They provide niche services to the diverse communities who live and work in the NSW capital. Establishing your business in Sydney allows you to thrive from a community who readily embraces new technologies and alternative ideation. Being in an innovative community like Sydney is sure to keep you inspired. But in a landscape rife with talent and ambition, growing a business is no walk in the park. What can you do to better your chances of growth?
At Brainiact, we’re a Sydney-based team of strategy, innovation and marketing specialists, aiming to help small-to-medium businesses thrive. Three key areas in which we help aspiring Sydney businesses are through developing business plans, business consulting, and strategic growth.
A good business plan is your backbone
Whether you’re a well-established conglomerate or a one-man show, a business plan is essential for success. It allows you to bridge the gap between your goal and the course of action your company needs to take to see it through.
Important components of a business plan include:
- Executive summary delineates the company mission and an accurate description of products and services.
- Detailed company description elaborates on the company’s long and short-term goals. It also identifies the company’s target customer base, and how they intend to cater to their needs through their business.
- Examine competition because you need to know what already exists in the landscape you’re entering. Identifying the strengths and weaknesses of your competitors helps you discern what works and what doesn’t.
- Detailed assessment of products and services is important for business transparency. When an investor or shareholder looks at a business plan, they want to know the minute details of a business’ product and/or service. That’s why it’s essential to include a comprehensive breakdown on what your business offers.
- Roles within the organisation need to be included in a business plan. For each team member, it’s important to specify their roles and responsibilities, including relevant qualifications and core skillsets they bring to the table. This helps to establish cohesive business practice.
- Sales and marketing touch points keep the wheels turning. A business with amazing products can still fail without a sturdy sales strategy. Set monthly sales targets to stay on track.
Brainiact partners with a variety of companies who can assist with business planning, including:
- Definitive Wealth Management: Definitive Wealth Management are experts in financial planning and advice. They’re valued for helping clients make the best of their situation through effective financial management.
- Pearman Media: Pearman Media is one of Australia’s largest independent media agencies, dedicated to helping clients succeed through effective media planning and strategy.
- Daily Press Group: Daily Press Group is an Australian creative and digital design agency. They help clients plan their brand aesthetic through visually appealing marketing material.
Business consultant Sydney - consulting with others.... every hand helps
There are three certainties about growing a business.
- It’s hard work
- It doesn’t happen overnight
- It can’t be done alone
Asking for help is essential if you want to succeed in the business world. After all, it’s not what you know, but who you know!
Enlisting the help of business consultants yields many benefits, including:
Access to outside perspectives
When you work with business consultants, you become exposed to new ways of looking at things. This helps you avoid groupthink, a state in which no one is willing to challenge the status quo. Stagnancy is the antithesis of growth. So, be sure to welcome feedback and alternative ways of looking at things!
Expands your network
Business consultants are great at networking. As a result, working with them is likely to expose you to prospective investors and clients who can help you propel your business.
Business growth strategist Sydney - guided by experts
Business consultants can guide you in getting the most out of your resources, ensuring that you work smart, not hard.
At Brainiact, we partner with some great consultants, including:
- Marsdens Law Group: Marsdens Law Group is renowned for delivering first class legal services, which include commercial, local government, planning, and environmental law. As one of the first law firms to achieve IS09001:2015 accreditation, we’re certain they’re a “sure thing” for anyone seeking legal advice.
- The Launch Squad: The Launch Squad are a venue consultant who have recently expanded their services to include events management. As a longtime partner of The Launch Squad, we can vouch that they value quality service and meaningful relationships.
- Men At Work Agency: Men At Work Agency are an Australian owned creative agency who are renowned for innovative storytelling. As an ongoing partner, Brainiact has seen firsthand how highly skilled they are at creating distinctive marketing campaigns.
Stay ahead of the game with growth strategies
Exploring growth strategies enacts opportunities for business innovation. They allow you to leverage your point of difference in remaining a cut above the rest. Maintaining an appetite for growth strategies makes it easier for your business to adapt to a fluctuating economy, an especially prevalent concern in the age of COVID – 19.
Effective growth strategies begin with understanding the central pillars of business, including:
“People” relates to both employees and customers. As business owners, it’s our responsibility to keep employees motivated to help fulfill customer needs. People drive businesses. So, ensuring you have the right ones working and buying is critical for success.
Process is about deploying your readily available resources in generating desired outcomes for your business. Processes need to be results-driven, cost-effective, and easy to follow.
Products are the fruits of your business. They’re the result of the idea seeds you planted, and the reason people seek you. To ensure your target customers get the most out of your products, allow for constant feedback loops. This could include social media engagement (responding to comments, direct messages, likes, etc.), having a customer support team, and making note of your online business reviews. Listening to what your customers say about your product is essential. They’re the ones who ultimately determine if your business is relevant and worthwhile.
Cashflow refers to the way in which money moves through a business. It relates to things like expenses, returns on investments, and profits. Cashflow is the lifeblood of a business. So, it’s important that proper accounting and points of measurement are set in place.
“A stitch in time saves nine” is a well-known idiom emphasising strategic planning over belated action. This sentiment applies to the legal frameworks of a business. If a minor legal complication isn’t resolved in a timely fashion, it becomes a more serious burden down the track. Consulting legal advice is important in ensuring that proper contracts and business regulation procedures are established.
Expert business strategists that are among our handpicked partners include:
- Elite Words: Elite Words are a full-service copywriting agency, helping clients build their online presence through strategic communications. Their services include copywriting, copyediting, and content strategy.
- Prosperity Media: Prosperity Media are a team of SEO specialists. They help clients increase online traffic, generate high quality links, and gain more conversions. With multiple accolades under their belt, this technical SEO company has a proven track record of strategising their clients’ way to success.
- Inspire Small Business: Inspire Small Business make it their mission to assist Shopify owners in maximising their sales. Our ongoing partnership with Inspire Small Business make us keenly aware of their tremendous ability in transforming mere visitors into paying customers.
There are many moving parts involved in growing a business. But once you talk to the right people who can help you harness your resources and deploy effective strategies, your aspirations quickly become reality.
Want to learn more about growing a business in Sydney? Get in touch to find out how we can help! Sydney businesses are our passion!