Starting a solo business can be a great adventure.
For many, there’s a sense of taking control and freeing yourself from the shackles of a daily commute and 9-5. At the same time, if you haven’t run a business before it can be hard to find the information you need to get started.
1. Getting started
If you’re new to running your own business, business.gov.au is a great place to start.
A government-created resource designed to help anyone understand the basics of business, it contains information on different types of business structures, the basics of invoicing, invoice compliance, tax obligations, business planning and much more
It’s also useful for pointing you in the right direction for things you may not have considered, such as registering your company name or for an ABN.
It may still be worthwhile to bring in a professional for more advice, but business.gov.au is a great place to begin!
2. Practical real-world advice
As well as the technical stuff, you’re likely to want to talk to and hear from freelancers already on the journey. Unsurprisingly, there are many online and social media groups that can connect you with a wide and diverse group of freelancers and small business owners.
Some of the best are:
- The Freelance Jungle – A vibrant Facebook community of freelancers of all types and levels of experiences. A safe place to ask questions, find resources, discuss topical issues.
- The Freelance Collective – A member-based marketplace helping to promote freelancers and their work. Build an online profile, showcase talent and find work
- Freelance Australia – A not for profit advocacy group which promotes professional development and industry education via online resources, conferences, and meetups.
3. Business tools
Everyone you talk to will have a different opinion on “must-have” business tools, so you will have to do some research. The exact nature of your business will determine the tools you need. Here are our favourites:
- Invoicing and Accounting – Rounded.com.au
Getting the right product at the outset will save countless admin hours, stress and sleepless nights as well as making sure you minimise cash-flow issues, lost revenue and missed expenses.
Rounded is a local Australian product built specifically for freelancers. They offer a free 2 week trial with no CC needed to sign up.
- Business Management – G-Suite
G-Suite is a top choice because it comes with so much for $US5 a month. Cloud Storage, an email address, video conferencing, a calendar, every type of office document you’re likely to need, and much more.
Accessed via desktop and a selection of free mobile apps and set up in minutes it’s a one-stop-shop.
4. Avoiding isolation
There are many benefits to being a solo business owner, including being your own boss and working where you want, when you want. The flip side is that working on your own can become isolating, and removes you from a community for large sections of your week.
The good news is that the growth of coworking makes it easy to find a convenient, cost-effective and flexible space to work from. Most spaces have a variety of casual, flexible, and dedicated desk plans to suit all needs, as well as including amenities.
Committing to working from a co-working space can provide a great change of scene and enable you to meet other like-minded business owners and entrepreneurs.
Hub Australia has spaces in Sydney, Melbourne, Brisbane, and Adelaide. All locations have modern fit-outs with premium amenities and technology, as well as dedicated account managers. Being a member also opens doors to a host of business development events and networking opportunities.