Bits of Australia has achieved a lot in its first two years in operation!
We now offer more than 1,200 unique products, promote 60 emerging and established artists, designers and suppliers, deliver to 25 countries around the world (top three - UK, USA and Canada) and have become one of the country's leading champions for ‘Australian made’.
So we stopped to celebrate and reflect on our achievements, and we put together some tips and lessons we've learnt along the way...
Whether you run a business, are planning on starting one or just looking for some business insights and motivation, we hope you find today's blog useful and interesting.
Micaela's top tips for starting a new business:
- Pace yourself - it’s a long distance hike not a sprint. Don’t fall for articles about the quick road to success, starting a business is hard work and there’s bound to be many late nights and working weekends.
- Positive energy -don’t put up with bad behaviour or people that drain you. You’ll need every bit of energy and plenty of support to build a successful business, so choose to surround yourself with positive people.
- Take risks - self-doubt is one of the biggest challenges when starting a new business and working on your own. Be brave and always ask yourself - why can’t I? Most of the time there is no good reason other than fear.
- Be financially secure- and don’t expect an income in the beginning. Despite all the noise about grants and investment opportunities, starting a small business is costly and funding is scarce - even with years of experience and a good credit rating.
- Watch out for red tape - we still have a long way to go in Australia when it comes to support for small business and no two businesses will ever be the same. Allow plenty of time to research, understand and negotiate the best services that will work for you.
Three lessons from our first two years of business:
- Love what you do - find something you enjoy and it won’t feel like work! I love working for myself and have more confidence than ever - even when dealing with the daily uncertainties of starting a business from scratch.
- Take action - you don’t always have to wait until you have your i’s dotted and t’s crossed. Just get started and you’ll develop and learn as you go. It’s the best advice I was given and helps combat procrastination and self doubt.
- Set simple goals- you don’t need to spend hours and write pages of business plans. You’ll be presented with many ideas and opportunities so it’s important to have a focus, set some goals and know your audience.
Read more from Bits of Australia in these news articles:
- Kochies Business Builders - Unreliable delivery services big challenge for online retailer
- Inside Small Business - Delivery services failing small business
- Inside Small Business - Aussie women leading the way in small business
- Business Review Weekly - Online retailer Bits of Australia recognises International Women's Day