Accounting and TaxSmall Business

Helpful Tips for Your Trade Business

By November 2, 2017 No Comments

trade business, accountant Gold Coast, Accountants Gold Coast, Accounting Industry Specialist, Business setup Gold Coast

Because of its potential and low startup investment, the trade business has attracted the attention of people all over the world. However, success depends upon skills and the way they are handled in business operations. Need more push for your small trade business? Take note of these tips from Gold Coast Accountants to have it skyrocket to success.

1. Stand out and keep up with the times

In such a competitive industry, it’s important to establish your points of difference as a tradesperson. Communicate these in all your marketing materials. Your online presence should also be strong in this day and age. Many small business operators are so busy that they neglect to maintain a website. If you’re looking at growing your business, this strategy is an important one that might put you ahead of the competition. A modern, well-made website can help you attract more business. You can also upload on your social media accounts some photos of your recent work and add search engine friendly captions so you can expose yourself to a wider network of customers.

2. Have the right licenses in place

They vary by location, by type and size of the job and even by the business structure. Don’t get caught out by not having the right licenses in place. After all, without the correct licenses, your business wouldn’t be able to operate. The good news is that all the information you need is now easily available online. From there, you’ll be able to know what body can help you with all the information you need and help you keep in tune with changing requirements.

3. Become the local go-to

For some businesses, a market of “everyone, everywhere” just doesn’t work. Instead, you can try selecting your key market areas and focus your advertising budget and efforts in those neighborhoods. Becoming a local expert in your field of expertise will boost your business in ways that you cannot imagine. Being seen as a local go-to expert will increase your share of the business.

4. Build on your customer service and make good first impressions  

You must always keep in mind that success is built on reputation. A business operator who returns phone calls gives well-presented quotes and is punctual will always be in line for repeat business and referrals. You must also try to maintain good first impressions with your clients. Show up on time, present in clean branded attire and smile. The goal is that before you have even stepped in the door, the customer has already decided if they would like to give you the opportunity to win the contract.

5. Try outsourcing

As a self-employed person, you may have the tendency to do everything by yourself. This could end you up overwhelmed and overworked. So you must consider finding someone else to do the other work for you. This frees you to either spend more time on the areas of your business that are most profitable or enables you to have more downtime outside of working hours. It can be a simple process to find the right person by searching online or posting a job on a website.

6. Track and measure your success

Your time is your most valuable asset so it pays to know what is working for you and what is not. Set yourself a quote success rate. Like, see if you’re getting 5 out of 10 jobs or even higher. And if you aren’t winning those jobs, ask for feedback and analyze why.

7. Get someone to do the accounting work for you

Keeping an eagle eye on the money coming in and going out is non-negotiable if you want your business to succeed in the long term. But this work can be very tedious, especially for an owner of a small startup with a lot on his or her plate. Then again, this is that one area of your business that should never be compromised, no matter how busy you are.

So to get things done in the financial aspect of your business, you can seek the services of professionals. Good accountants Gold Coast can assist you with everything, from your regular tax obligations, as well as help you establish the right business and tax structure for your operations.

Here at New Wave, we can make the tax and financial statement preparation process as simple and efficient as possible so that you can just focus on other aspects. We use tech-forward solutions and applications so you can easily rely on your figures to make the right decisions in your trade business.

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