Call Us Today

1300 72 10 73

Looking for explosive growth? Here are a few tips.

The way that business is conducted has changed significantly over the past 20 years. A lot of the old techniques and practices no longer suit modern businesses. Here at Ruby we see new businesses starting all of the time and we see some of the practices that those businesses employ to help them to achieve explosive growth. Here are a few suggestions.

Where possible outsource roles. When you outsource your tasks it gives you the opportunity to match your costs against your revenues. Rather than employing full time staff get people in only when you need them. Great roles to look at outsourcing are IT roles, sales roles, admin roles and receptionist/telephone answering.

Get the best advice that you can. Look for a mentor who has similar experience who can help with opportunities. If possible, join industry groups and tap into their experience in the industry. Get involved with online forums and discussion groups like www.flyingsolo.com.au.

Consider bringing in external investment. A report that was published recently stated that one of the big differences between USA startups and Australian startups is that USA startups are much better at raising capital and bringing in investors. Australians tend to try to fund their businesses themselves. Consequently the USA businesses grow at a far more rapid rate.

Get tax and accounting advice

It can really pay off to get good advice from the outset. A good ACA or CPA can give you advice in terms of setting your company up properly, ensuring that you get any available tax breaks and assisting with any funding issues. It can really pay off in the long term.

Build a plan and continually review

Create a detailed business plan for your business

Before you can reach your end goal you need to have a good idea of what it will take to get there. I would suggest being as detailed as possible. Sit down for a day and really break down what the potential revenue sources are and what the costs are going to be. It's also really important to regularly review your assumptions and revise your plan.