I've Got My ABN, Now What?
When starting a business it’s often hard to know what you need and where to go next! Follow our 4 step guide from registration to finding your first customer.
Set up your business
1. Setting up your business
An ABN is one of the most crucial parts of starting a business, it’s a unique 11 digit number that identifies your business or organisation to the government and community. Your ABN should be placed on invoices issued for the work you’ve completed or product you’ve sold, it can also be used to make business purchases at wholesale price.
So once that’s been sorted, what's next?
A business name is a name or title under which a person or entity conducts a business. You will need to register a business name if you carry on business within Australia and are not trading under your personal name.
For example, if your name is John Smith you do not need to register a business name. However if you trade under the name “John Smith Automotive”, then you will need to register.
Next up we have the business bank account. Easily track and manage your business income and expenses, appear more professional and build trust by receiving and making payments in your business name. It may appear easier to integrate your personal and business transactions within the one account but it can actually complicate things. Leading business owners even use different banks for their business and personal accounts.
The next step is to think about customer communication, 65% of customers prefer to contact a business by phone, versus just 24% who prefer to fill out an online form because they feel they will receive faster and higher quality service when talking to a human. Honcho Phone provides your own exclusive business landline, personalised to your state or territory. When customers call they are immediately diverted to your mobile phone for answering.
Honcho Phone protects your personal number while still allowing you to take business enquiries on the go. Like your logo, this number can be displayed across business cards, websites and signage to make your business look professional and trustworthy.
2. Getting online
3.2 billion people use the internet daily. 85% of those discover new businesses via various search engines.
Securing an online presence for your business is essential. A website address (BusinessName.com.au) is a unique identifier that sets you and your business apart with an online address. Honcho can help you easily secure your website address for free! We recommend securing the same or a similar website address as your business name so your customers can find you easily online.
Once you’ve registered a domain name you can apply for a professional email address, look established by streamlining the online presence of your business with a matching email (firstname.lastname@example.org).
Building a website to link with your domain is the next step in forming the foundation of your online presence. Honcho offers a free business profile website with each subscription, there are also additional services available for more complex website designs.
3. Make money
Investing in invoicing software means that your business transactions are processed and managed digitally and you will get paid quicker! With reduced processing time, errors and costs, using invoicing software is 60-80% more efficient than traditional paper invoicing. Honcho Invoicing includes everything you need in order to quote, invoice, receive payments and stay on top of cash flow!
Connect Honcho Pay with your invoices to accept all credit and debit card payments for a super low fee of 2.9%. + 30 cents per transaction.
Did you know, Honcho Pay businesses will receive payment from customers 3x faster than traditional methods? Customers can make payment at their own convenience, overcoming geographical and time zone limitations.
4. Find customers
Check out our blog for 8 ways to advertise and promote your business for free! This article provides easy and cost effective approaches to getting your business out there and engaging with potential consumers.
Once you've utilised the free promotion options, advertising on Google with Honcho can boost your brand, deliver customers and significantly impact your bottom line. 95% of Australians use Google as their search engine and the top ad spots on Google get over 70% of traffic.
Your campaign manager will design, monitor and optimise your targeted campaign and report back to you monthly on key indicators and overall performance. Furthermore, you'll have access to ongoing support throughout the campaign.
Let us identify how you can make money faster, take the 5 minute survey below!
Follow our 4 step guide to register your business, make money and find customers today!