
In this course, we dive into all the practical and tactical things every entrepreneur should know but never gets told to get their business off the ground. From idea creation, to thinking up a business name, to establishing your business structure and getting your product or service into the hands of your first customers, this is a must-do for every early-stage business owner and entrepreneur.
Tim Morris is a lifelong entrepreneur. Prior to becoming CEO at The Entourage, Tim has had a long and diverse entrepreneurial journey starting, growing and managing a range of businesses. He launched an innovation consulting business straight out of a university, followed by another 4 businesses on the side, from a subscription-based service for socks and underwear to e-learning course and content development for all major universities across Australia. He also served as the General Manager at Uber during its period of international expansion into Australia before returning to his roots in entrepreneurship and education at The Entourage.
The first thing that entrepreneurs do wrong is that they actually start with an idea, but here’s the problem: when you start with an idea and build a business around that, often what happens is you’ve started with a “solution” without first identifying a consumer problem that needs solving, then you try (unsuccessfully) to fit that solution to a problem. You should start with the problem first, or an unmet customer need, and then come up with an idea to solve it. We’ll talk through the concept of an “unmet customer need”, and how to identify one for your target audience, in this short video.
Once you’ve identified your target audience and their unmet needs and frustrations, you need to come up with a creative solution to that problem. Don’t fall into the common pitfall so many other entrepreneurs face where they come up with just one potential solution. In this video, we’ll take you through how to come up with as many ideas as possible so you find the best possible one to solve an unmet customer need.
Here, you’ll go through a number of strategies, tactics and techniques so you can test your idea with your target customers. Remember, testing is a mindset: it is the core principle that will significantly increase the chance of your business’ success. So let go of your ego, and let the market decide for you how your idea will fare so you’ll 100% be on the right path.
One of the easiest ways to test your idea and get some initial customer feedback is to build a landing page. Here, we’ll take you through this fast and cost-effective technique of putting your idea out to potential customers so you can see how they respond.
Another way to test your idea is to make an explainer video. You do not have to have developed your product or service all the way to completion before you develop this video to explain your value proposition to potential customers. In this video, we’ll show you how to do this, plus an example of a business that employed this tactic with extraordinary results.
A Minimum Viable Product, or MVP, is the smallest version of your value proposition. It is a product which has just the necessary features so you can ship it to early adopters who will pay for it, but more importantly, give you feedback on it. We’ll give you some tips and tricks to get you MVP out into the world.
This is such a common question. No, it is unlikely that someone will “steal” your idea, but the thing is, ideas are not rare. It’s very likely that someone has the same, or a similar idea to you. The longer you wait to put your idea out there, the greater you risk someone executing a similar one. Here’s why you need to get your idea out there now and start generating feedback right away.
Speed to market will set you apart from everyone else. Entrepreneurs will not “steal” your idea, but there are probably some out there with the same idea as you. In this video, we’ll talk about the importance of speed to market to protect your idea but also continue making it better so you can actually develop a product or service that people want. Remember: start before you’re ready.
Landing on a name for your business is probably one of the most painful and difficult parts of the whole process, namely because there are so many things to consider.
This is such an important step for creating the visual identity of your business. We’ll go through some simple yet effective ideas in this video so you can get an awesome logo designed that doesn’t break the bank.
There are so many different options available for you to create your website. We’ll go through 3 go-to’s that’ll get your website up and running in no time at all (and at a small cost).
In this video, we’ll talk about the 4 most common business structures available to you, their characteristics, as well as some pro’s and con’s for each one. You can change structure as you go along in business, but it’s best to get it right at the outset. As you watch, think about what is right for your situation.
You’ll also need to register your business name with ASIC. We’ll talk you through everything you need to do in this video.
All business require an ABN, or Australian Business Number. It’s really easy to apply for one.
In this video, we’ll cover everything you need to know about registering for GST.
In this video, we’re going to talk about Intellectual Property (IP) protection and the core concepts of it. Once you know that your startup is going to become a business, it’s a good time to start thinking about IP protection, so we’ll talk about patents and trademarks, and how to apply for them.
IP Australia has some great resources available which go into even more detail on the topic.
If you’re really concerned about someone “stealing” your idea, a measure of protection you can put in place is to ask potential partners or retailers to sign confidentiality, or non-disclosure agreements.
This is something that so many entrepreneurs get wrong! If you’re going into business with someone, or you’re looking for a business partner, this is a must-watch video so you don’t make the same mistakes so many other entrepreneurs do.
As your business grows, it’s likely that you’ll need more hands on deck to help you out. In this video, we’ll talk you through everything you need to know about outsourcing - that is, hiring freelancers to work on a part of your business. It’s easy to get this wrong, so watch along and listen for our tips to make sure you bring on the right people to help you.
Is this still a core step in the entrepreneurial process? The product development cycle is now more important than ever, but do you still need a business plan as an early-stage entrepreneur? Watch on to hear what Tim thinks and download the resources he mentions using the links to the right.
Do you need rigorous financial projections right at the early stage of your business? Probably not. There are other things you should divert your energy to - watch this video to hear from Tim what your priority should be.
Finding an accountant who can provide you with good advice and keep your paperwork in order is an important step as your business launches and grows. Here are some top tips to help you find the right one for your business.
The challenge of running your business from home is that you will go stir-crazy pretty quickly, so we recommend moving out as early as possible. We go through some tips in this video to get you in an office as soon as possible (without breaking the bank).
Look at you go! You just smashed through our entire Startup Starter Pack course - you’ll be well on your way now to get your business off the ground and running.
But we’re still here to help. We’ve got other short courses available for you on a range of topics, as well as words of advice from other successful entrepreneurs who swung past to share their tips for starting, running and growing a business. Now - go forth and conquer!
We believe that entrepreneurs drive the world forward and make it a better place. But we also believe that the traditional education system doesn’t empower or equip them with the tangible business skills it takes to create and build a scalable business. That’s where we come in.
In this course, we dive into all the practical, tactical things you need to do to get your business off the ground. From idea creation, to thinking up a business name, to establishing your business structure and getting your product or service into the hands of your first customers, this is all the stuff an early stage entrepreneur needs to know but is never told.
This course is presented by lifelong entrepreneur, Tim Morris. Prior to becoming CEO at The Entourage, Tim launched, grew and managed 5 of his own businesses - from a subscription service for socks and underwear, to e-learning course and content development for all major Australian universities. He also served as the General Manager at Uber during its period of international expansion into Australia, before returning to his roots in entrepreneurship and education at The Entourage.
Now, are you ready to access all the tools you need to bring your business to life?