One of the end goals of most entrepreneurs is financial freedom. So what exactly does financial freedom mean? Well to me that means not needing to work, i.e. having a residual income steady enough, and large enough, to have the ability to stop working. So if you want to go on a holiday to a tropical island for 3 weeks, you can do that and not worry about the business (or businesses). So, how do we get there? Good, solid planning and preparation. From day 1 you could be looking at those working with you to groom them into a management position where you could leave.
So you’ve got an idea for an app? Awesome! But how are you going to turn this puppy into a real business? There are options galore: charging for it, selling virtual goods, or everyone’s guilty pleasure, running ads. What will be your strategy? Learn the tricks and trades of various mobile monetization strategies and put yourself in a position to grab your share of this rapidly growing $2B dollar market.
Subscription commerce seems to be skyrocketing lately. Customers pay a monthly subscription to be entitled to use services, buy cheaper products or receive goods each month. It’s proving to be hugely successful for many companies and this is resulting in well-known business models reinventing themselves to offer a similar service. If you are looking to jump on the subscription commerce band wagon you will need to be aware of the necessary criteria that you’ll need to make it a success.
Australian startup Bills to Pay have just launched their new TV show across community television stations in Melbourne, Brisbane and Adelaide. Founder and CEO Kris Bodin hosts the show which sees himself and a panel of financial experts go into people’s homes and help them with their finances.
Let me ask you a question… If Bill Gates lost everything tomorrow, do you think it would take him long to become a millionaire again? How about Richard Branson? Michael Dell? Or Jeff Bezos?
Leading small business accounting software provider Xero continues to change the accounting game with the addition of online invoicing.
Over the last 6 years the company has been building accounting on the web. This has been a major investment, to build a full accounting system that connects small business owners to their accountants, bookkeepers, banks and other business solutions. Over 111,000 businesses now run on Xero.
thinkBIG 2012 revealed that 76 per cent of SME owners now undertake formal planning, which is a massive jump of 30 per cent compared with 2011. This suggests a clear shift in SME owners’ focus on business planning. Andrew Graham, national head of business solutions RSM Bird Cameron, said, “The fact that the number of owners now doing a formal business plan has almost doubled shows that they understand its importance.