6 tips for new business owners in 2022

Starting a new business is equal parts exciting, exhausting and exhilarating – here's how to take some of the stress out, and streamline things from the outset.

When you start a new business, you'll initially be overwhelmed by the amount of paperwork, documentation and emails required just to get things off the ground.

Once everything is set up and you're ready to trade, that's where the fun begins. Unfortunately, this is where the paperwork and process management begins too!

I've owned a few businesses over the years, and one thing I learned early on is that organisation is your absolute best friend. The more organised and process-driven you are, the easier it will be to not just run your business, but ultimately grow it and scale to new heights.

So along those lines, here are the top business tips for new owners in 2022:

Business tip #1: Outsource with purpose

It is impossible to know, action, understand, problem-solve and optimise every area of your business all by yourself. Those who attempt to do so, usually in an understandable effort to save money, often end up burnt out and exhausted, quick smart.

It can also be a false economy. If you try to maintain your own website, and you can't quickly fix an issue that takes your website down and costs you customer sales, but you've saved money by not hiring IT support… those savings came at what cost?

Early on, do a skills analysis. Work out exactly what your strengths are, and where you need to engage a professional to fill in any gaps.

Business tip #2: Start how you intend to go

At the very beginning, run your business as if you have staff and you need to share resources regularly – even if you're operating a one-man show.
This will help you set up systems and processes that will make your business so much easier to run in the long term.

This includes things like:

• Setting up a Google Drive or dropbox account to store important documents
• Creating processes and checklists to do simple tasks - it will make them easier to outsource if/when needed
• Being organised when managing your bookwork, so it's easier to manage regularly (rather than building up into a big task after a few months)

Business tip #3: Don't let your internet let you down

A strong internet connection is essential for so many functions of your business. Whether you operate in an office, in retail, as a cafe or restaurant or even working from home in a service-based business, virtually every enterprise relies on the internet in some capacity to thrive.

This is not an area where you want to take short cuts, but that doesn't mean you have to spend a small fortune. When you choose a plan powered by business nbn, you get access to an enterprise ethernet connection built upon a robust fibre network, which is designed to help businesses of any size choose a wholesale speed that suits your needs.

Business tip #4: Shop around for competitive deals

There are a number of suppliers, subscriptions and resources you may need to invest in to run your business, and it really pays to shop around.

David C, who owned a restaurant, was looking for app to schedule his staff and manage rosters. The initial app he used charged around $120 a month. After about 6 months, he decided that was too expensive and shopped around for another solution. He found another app that provided almost the exact same service, for just $35 a month.

Over 12 months, that's over $1000 in savings, after doing just 30 minutes of research. Imagine the savings you could enjoy if you shopped around and achieved an efficiency like this 3 or 4 times?

Business tip #5: Get involved with free tools and resources

There are so many tools, programs, apps, communities and resources you can use to help your business grow and thrive. It's a matter of working out which tools and communities best suit your business and your needs.

For instance, Canva offers a free subscription model that allows you to create eye-catching graphics to post on social media. Along the same lines, there are several free social media management tools that can help you streamline your social media plans. And you can use free SEO optimisation tools to make sure you're targeting the right keywords in your website copy, too.

Business tip #6: Set yourself goals

There's a huge value in setting short, medium and long term goals, so you have a really clear roadmap to drive your business forward.

Goals are like a travel itinerary: they help you stay on track and pursue the most aligned opportunities, to help reach the outcomes that matter most to you. You can have a broad goal of travelling to Europe, or you can create a plan about what you'd like to do when you get there (travel to Italy, stay in Rome for 3 nights, visit Pompei, sip wine in Positano). The more specific you are, the better: aim for goals that are SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound).

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