Congratulations on taking this step in evaluating your business idea.
This toolkit contains the following worksheets:
- Customer Avatar Worksheet
- Value Proposition Worksheet
- Value Proposition Canvas from Strategyzer
Click on the link above and you can instantly download the Toolkit and start defining your customer and the value your new business will provide. There are also extra links inside the workbook that you can use to learn more about how to use them effectively.
We cover these in more detail in Chapter 2 of the How to Start a Small Business Guide which is all about researching your idea. This is just one of the topics that we cover in the full guide which you can access HERE.
At Bee Group Accountants we love small business and aim to do everything we can to support the people behind them. You can find a bunch of other tools and resources as well to start your journey all at our site.
We have had some questions about this toolkit as well and have put these at the bottom of the page, so scroll down to check them out. If you have any questions be sure to let us know too.
How to Start a Business in Australia
Have you read through the guide but would like to learn more about just how to get your business started? Then keep an eye out for our workshop on How to Start a Small Business in Australia. You will find upcoming dates in the Events section of our website.
This workshop is a hands-on, guided implementation of all of the steps in the Complete Guide with hints, tips, tactics and strategies all there to help you shortcut the path from idea to market. These are run in-person and also online. There are minimum numbers for the event so if you are interested just get in touch and let us know.
Stay Connected
Come and connect with the community that we are growing on Facebook at Everything Small Business. Share your expertise and learn from the experience of others as you gain bigger insight to your business.
Next Steps …
Join us In the Lab
If you’re still in the research phase of starting a new business, why not join us in The Lab. This is both a course and a space for you to learn, connect and experiment.
The online course walks you step by step through the basics of making sure things are right in the business.
Become a Client
FAQ’S
You have questions!! We have the answers. These have been some of the questions that have come up so far …
How do I know if my business idea is viable?
Short answer, you can’t. There are no guarantees in business. However, you can put in place the best foundation possible through solid research to ensure that you understand the market as best you can.
Is it necessary to create a full business plan before starting a small business?
No, in fact it is a negative. You don’t want to spend a whole lot of time and money building this massive business plan that will likely just end up accumulating dust in the bottom drawer. Reality is you do need a plan. You just don’t need a full fledged operations plan. You need to map out your assumptions and document clearly a key number of your business model blocks, as these will form the basis of the hypothesis about your business. But keeping this process agile means that you can adapt as and when conditions change. We really subscribe to the Business Model on a Page approach so that your vision for the business and its key drivers are easily communicated and monitored.
How can I identify my target market?
There are many tools and techniques that will help you do this. However, one of the easiest ways to identify your niche is to understand who you like doing business with. If you have already worked in the industry, you will generally know the attributes of your most favourite customers … and the least favorite. Spend some time thinking about what are the commonalities and traits of your favorites and expand those into any number of frameworks that can be used to help you really develop clarity on your market. In our toolkit we have used the Customer Avatar as a starter model to ask you to identify different traits about someone who might be your preferred market. You will generally never have one Customer Avatar though and you need to think about who the buyers are as well. If you need a hand with this connect with us in our Facebook group and ask any questions in there.
How can I differentiate my business from competitors?
Spending time in research before you start your business is one of the easiest ways to really look at just how you can create a point of difference. Remember, your clients and customers will be evaluating you against your competitors every single day. So taking a very honest look at what you are going to offer against what already exists in the market is essential to being able to distinguish yourself in a crowded marketplace. Business models come in all shapes and sizes and this is a very big topic in itself. One word of caution though is probably don’t aim to be the cheapest at whatever you do – it only leads to a nightmare in the end as it will generally be a race to the bottom. There are some businesses who have successfully competed on price alone however they are generally at the larger end of town as they depend on volume and scale to make the margins to make the business profitable.
What legal requirements do I need to consider when starting a small business?
There’s a very wide range of legal requirements to setting up a business. These will be regulatory, legal and financial. Always ensure that you get good advice from a lawyer and an accountant when looking to setup a business. We touch on some of these requirements in our How to Start a Business in Australia guide. So be sure to read through that and reach out for any assistance that you might need. We can help put you in touch with the right people to help you simplify your starting a business journey.
Have a question of your own?
Connect with us and ask on Socials or book-in a Personalised Consultation
Disclaimer – Nothing on this page constitutes personal advice, please refer to our Terms and Conditions. If you are looking for tailored advice for your situation then please reach out to become a client. You should always do your own research before making decisions and engage the services of qualified legal and professional advisors.
