National Brokers Network

Technology is fast-paced; it won't wait for anything. It has its own path to follow without considering if there's someone following it. As a business, it's your responsibility to stay up to date with the trends and figure out which trend will work best for you (or if every trend works, go for it).

Small and medium businesses are the backbone of the Australian economy. These businesses are responsible for around 57 per cent of our GDP. And these businesses also employ around seven mission Australians. That's why there's no doubt these businesses are considered as the drivers of the economy.
In Australia, there are 2,065,523 small businesses that employ at least 19 employees, the Australian Small Business and Family Enterprise Ombudsman said. And within this population, 63 per cent are sole traders or businesses that only have the business owner as an employee. Being a sole trader comes with difficulties because you only have yourself.
But, how do other sole traders do it? How are they able to stand up with their own two feet and reached what they are today? It's possible and if you're planning on buying a business and make it into a one-man operation, here are business growth tips for you.
 
Turn to Outsourcing
Owning a small business means you have to wear multiple hats to get the job done. You task yourself in doing different jobs, such as a managing, accounting, and even meeting with clients. But you don't need to pressure yourself in doing everything. One answer is leveraging outsourcing.
Outsourcing is a solution that lets you hire another company or individuals to perform designated tasks. So, if you have a lot of data entry tasks, you can let someone else do the job for you. This will help you focus more on important tasks while lowering your overhead costs.
 
Know your Niche
There are different types of customers in the world. What you need are customers who will come back and buy again from you. These customers are under your niche — or the ones you should target with your marketing strategies.
There are questions you can ask yourself in order to identify your niche market:

Who do you think are the customers perfect for the business?
What solution can you provide them?
What are their concerns?
Have you searched their demographics?

The answers are essential data that will help you come up with solutions and marketing strategies that will get their attention. It's important to start your research and data gathering right away.
 
Talk to Experts
As a sole trader, you may not have any board of advisors to consult regarding the future of the business. It's important to consult with people with experience since they're the ones who have faced different challenges — and may have faced what you're experiencing right now.
Even if you're planning to Buy and Sell Businesses in Australia, there are also experts in this industry that can provide you with insights. National Brokers Network has experienced agents who have worked in various industries when it comes to selling and buying.

There's nothing wrong with side hustles. It's actually a great way to earn money on the side. The only concern for entrepreneurs is still performing your key responsibilities in your main business. For small business owners who have side-businesses and side-earners, here are our success tips.

Utility bills are a part of business expenses. As a business owner, you need to consider your energy consumption and how much it affects your daily budget. Even though the bills come in monthly, the way you use your electricity can have an impact on your earnings. Whether you're at home-based or office-based, being reckless in energy consumption can drastically increase your energy bills. Conserving energy is a win-win situation; you're not the only one benefiting from energy saving, the environment also as this is a sustainable solution. Here are energy saving tips for 2019.
 

A business survives when money flows into it. When there is no cash flow, how will an entrepreneur pay for the bills, improvements, employees, and more? That's why financial health is an important aspect of growing a small business.

Marketing is like clothes, it only fits certain people. In other words, if your competitors are using this method, doesn't mean your business can also adapt it. There's no "one size fits all" when it comes to marketing. It's a trial and error process that will only end once you've found the perfect strategy. In order to do that, here are ways on how to start marketing your business again.

No matter what your business is, including taxes on your year-end plan always helps. Tax time always brings out the common problems small businesses always face.

Digital technology has taken over how businesses are operated. With this, businesses under the traditional way of operations are required to leave their comfort zones and take a different route — or what experts call the

Now that the holiday season is completely wrapped up, stressful preparations and planning are now put to a close. January may be a part of the slow season for a number of businesses, that doesn't mean the business should stop planning altogether.
January is the month that starts the year, which is also the time to address the holiday aftermath and how to make the business better. Start your new year right with these tips in re-energising the business after holidays.
 

Inflation happens when there is an increase in prices of certain goods and services in a specific time period. From time to time, economies all over the world experience inflation — whether a small or big impact on the economy. And that is why business owners should be well aware of the impacts of inflation and how to deal with increasing prices.
These tips in surviving inflation can help business owners to cope with the impact.
 
Get the help of a trusted advisor
It's best to seek the help of professionals when it comes to a review of a company's expenses as they are experts on the field or already experienced the same situation you're in; therefore, they're able to provide suggestions and alternatives you could consider.
 
Renegotiate with suppliers
This would be a great time to speak to your suppliers and renegotiate your contracts and terms. With this, you can create a new agreement or even get discounts if you buy in bulk or pay for the goods earlier than agreed.
 
Prioritise growth
Focusing on making your business better can help fight inflation. One way is through your employees. As a business owner, despite inflation, you should still become an inspiring figure for employees and even motivate them to work better. One way is through incentives, such as bonuses, awards, and prizes.
 
Tighten your belts
Cutting costs is a great solution, but make sure to not affect your employees. This means that the cutting of costs doesn't affect the benefits of employees, which also includes stuff you provide in the pantry.
 
Monitor competitors
Everybody is affected by inflation and the difference is how a business can handle it. As a business owner, monitoring competitors can help on how much you can raise your prices. Experts recommend raising prices after a competitor raises theirs. But, always keep in mind to keep the increase a little bit lower compared to others.
 
Be honest
Honesty is the best policy. As a business owner, it's the business' responsibility to inform customers about the price hike beforehand instead of letting them find out when they buy online or through the invoice. Being honest and transparent allows customers to accept the hike and still buy from you.
 
However, if you’re planning to sell the business during inflation, these tips will definitely help the business become attractive to buyers. In addition, it's also best to consult with business professional brokers, such as National Brokers Network, to help you with the listings, negotiations, pricing and even promotions in order to land a great deal. Experts have knowledge in the field, which allow them to provide insights that are helpful and on point.

In order to survive the fast-paced world, we need to come up with ways to survive. As human beings, we find work or start businesses in order to feed our families and even improve our standard of living. But, like is not all about work.
Pursuing your career is not all about work that you don't have time to sit back and relax. Working overtime can be rewarding but too much can lead to stress, health problems, conflicts with family and friends, and even death.
In order to avoid these circumstances, companies are slowly adopting work-life balance so that workers are able to manage both their work and personal lives efficiently. And here are ways on how to get started in work / business balance.
 
Practice Time Management
Experts and even your boss — or even you if you're a boss or business owner — said it:

Do you have the guts to ask your customers for their feedback? Well, business owners should have because what customers say is essential for the business. This data can be used as insight for you to know on what areas you need to improve on.

Selling homes can be determined as the waiting game. Even though you've done your part as a seller (of course from listing to marketing), and there are leads whatsoever. Inexperienced home sellers often slump in a chair asking themselves: "How long is this going to take?", "When will I have a sale?" or even "Is there anyone interested in this?"

First-time commercial property sellers may not know it, but real estate pictures boost your listing; it can even make or break your sale.

2019 looks murky for the residential sector as it continues to weaken, pushing older investors to place their money elsewhere.
According to a report by The Investor of JLL, the so-called ‘Mum and Dad’ investors under the self-managed super funds (SMSF) in Australia are choosing to invest their money into commercial properties instead. The reason behind this is that the weakening residential market and commercial properties offer attractive propositions for investors, such as longer leases, higher certainty when it comes to income, and small liability on outgoings.
Aside from commercial properties, these investors are also opting for another option to boost their investment prospects, which is through banks’ lending restrictions through peer-to-peer lending.
So far, Australia houses 597,000 SMSFs, and when combined is totalled to around a whopping A$700 billion. In fact, that A$700 billion is only a part of the total superannuation sector of Australia, which is one-third to be exact, according to the Australian Tax Office. Not only that, the said sector is growing as data shows growth over five years to June 2017. Each year within the five years, the sector grew five per cent each year.
“Mums and Dads have always aspired to invest beyond the family home and residential historically has always been seen as the safe harbour, given it was what they knew. But they are getting more educated now and growing the confidence to invest in higher value property asset classes,

Warehouse storage and utilisation is no exception when it comes to technology. From delivery to stocks, and even robots for warehouse management, businesses are pushed to get these upgrades to cater to the fast-paced growth of customer expectations. Despite the efforts of catering to customers, warehouses used for supplies are ticking like a time bomb — the space is running out.
Organisations who have poor warehouse utilisation will suffer continuous expenses. Customers have the purchasing power, and it's the business' responsibility to provide what they need and want. Due to the fast-paced growth of customer expectations in orders and deliveries, organisations are being pushed in the corner, experiencing higher overhead costs and decreasing warehouse space. Technology plays a huge role in helping with this problem as warehouse automation, but it only helps in increasing inventory through supply forecasts. The bottom line is that space is still a problem. And this is a problem that needs a solution.
Yes, the warehouse itself needs the change. It's best to start adjusting your processes. Increasing forecast accuracy through analytics and real-time asset and inventory monitoring technology. As a business, there should be forecasts regarding future needs in order to optimise shelves. However, there is no slacking off since optimisation should be done all throughout. Technology is a powerful tool that allows operations to become efficient; therefore, take advantage of it in order to fill more orders faster. But, make sure to train staff in using such technological advancement to make it easier for them to interact and use it.
Aside from technology, it's also the capability of the warehouse team to fully maximise the space they have at the moment. Learning the art of using multiple-shelving techniques can help in taking up less space. Think of it as playing Tetris, but in an organised manner of items being grouped based on categories. The team is responsible for plotting the route of the delivery to and out of the warehouse, so being organised and meticulous should always be integrated with every decision.
Warehouses are important for businesses as it serves as the storage for their supplies. Looking for one through real estate websites' listings would make it easier. One of these websites is National Brokers Network and its team is ready to help businesses locate the best warehouse that fits the warehouse criteria. After all, organisations are in need of a space that could be maximised in order to cater their supplies.

There's no denying it, Millennials are taking over the workforce. In spite of the presence of the Baby Boomer population still going in and out of their jobs every day, Millennials are actually replacing them one by one in every work area possible, and that means your warehouse is also included.

Buying commercial properties come with different perspectives, and one is the legal aspect of the decision and action. Getting legal help is important for these professionals are knowledgeable with the process. They can help you dig deep at every step to make the purchase happens. National Brokers Network's know how important legal counsel is, so here are things you should know in buying commercial properties.
 

The last day of the month is usually the busiest due to the holiday season full of gift giving. But that doesn't mean the team should shrug what January can bring. The after holidays are considered the calm after the storm, but others see this as a season to look back, evaluate and make changes.
Make the business better as it starts a new chapter this year. Grab the chance to set new goals and develop strategies on how to achieve it. There are actually ways on how to restart your drive and motivation for business success in 2019.
 

Online shopping is the norm nowadays. After realizing the convenience of "one-day" deliveries and anytime window shopping (with the use of a mobile device and internet connection, of course), customers choose online retailers than brick-and-mortar stores.

2018 was definitely a good year for the business sector.
According to a report by BizBuySell, 2018 experienced a new high in terms of business buying and selling. The report said for a three-year run, 2018 has the highest, with a total of 10,312 sold businesses for the fantastic year. If compared to 2017's 9,919 and 2016's businesses sold, last year's record was 4 per cent and 32 per cent, respectively. In spite of a price spike for small businesses, the data shows there is no denying that the past three years was a wonderful year for both business buyers and sellers.
Looking at the data, the insight report said the average revenue of sold business increased from $500,000 in 2017 to $531,653 in 2018, while other businesses being sold had increased cash flow of $115,000 in 2017 to $120,000 in 2018, which is 4.3 per cent higher. According to the company, the data shown were the highest financial performance of sold businesses — and take note that this record is the highest so far as the BizBuySell started to track data.
On the other hand, the pricing also showed optimistic data. Small business owners were able to ask and receive more than before. This means that the middle price of the small business increased to $275,000 or 10 per cent higher; hence, increasing the sale price.
Bob House, President of BizBuySell.com and BizQuest.com, said the reason for the increase in numbers is due to the confidence of the people who want to be the boss of their own business, which was strongly influenced by the strong economy. Aside from confidence, these people strongly clung to the belief the strong economy will continue to become strong; hence the business buying and selling.
“We expect continued strong deal flow, but both buyers and sellers should also keep a close eye on factors that could affect the marketplace such as political gridlock, potential tariff impacts, rising interest rates, and stock market volatility. Those can be good indicators of how the market could shift moving forward,

Small contracting businesses need to work double time so that their target audience can even have the slightest knowledge about them. These businesses need to prove that they're capable of doing the job on par or even better than the big, high-priced contractors with tons of experience under their belts.

 
Identify a budget
Before making any decision, it's best to establish first how much you can a lot for your marketing. A business needs to properly budget the money it earns to make the business grow. This means there are other departments to consider when it comes to funding. Just make sure you have money saved to be used during downsides for marketing is an investment — it costs big up front and is long-term.
 
Hire a professional person or team
Cutting corners will get you nowhere. If you're finding it hard to come up with marketing strategies, maybe it's time to hire a professional to handle your marketing needs. It can be only be one person or a team, and it can be in house or outsourced — what matters is getting an expert to handle the marketing and execute a strategic long-term plan.
 
Create marketing collaterals
Marketing is like a battle against other companies. Always remember that the business world is a cutthroat competition and you need to create something creative to get noticed.
Through marketing, you can channel your branding to your target audience. And a variety of marketing collaterals to help in targeting audiences in different platforms. Also, these collaterals can be reused or updated depending on the marketing campaign.
There are many types of marketing collaterals. There are offline tools, such as brochures, flyers, photographs. On the other hand, there are online tools, such as social media, emails, and websites. As a contracting business, you can tap into these methods and incorporate into your marketing strategy and evaluate the results. There is no limit of what method you should use. These methods and tools can be combined to come up with better collaterals.
Again, marketing is a long-term investment. The costs are overwhelming and, sadly, there are chances your strategies will fail. Marketing it a trial and error process. So, once you get the perfect method for your current marketing strategy, you'll definitely reap the influx of leads.
 
Get the latest technology
Home redesigns or rebuilding are different from buying a meal at their favourite restaurant. When it comes to contracting, people think more deeply. Who wants to entrust their homes to people they barely know, right? With this struggle, as a small contracting business owner, you should make sure they're using the latest technology.
All thanks to technology, there are many ways to showcase your skills. If your budget permits, you can tap into 3D tours, digital rendering, virtual reality tours, a website full of resources, and even real-time edits where consumers can see the implication of every change.

There is always the saying "the little things go a long way." Even though small if you look at one of these steps, but if you stacked every step, you'll definitely see the difference.

Already outdated wallpaper? Or are there signs of old wood or broken concrete on the floor? Is it already Spring and there is new decor available? Are the colours not that bright anymore?

Investors who want to venture in Australia better watch out. Experts say that now is the perfect time to get started in getting that investment success you've dreamed of. This means beginners should start learning what they can in the industry. Better look ahead of 2019 and start your preparations in incoming real estate dealings. Here are simple beginner tips for new investors.