5 Ways To Ensure Success For a Small Business

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With unemployment figures hitting all time highs and credit markets tight, many individuals are taking the opportunity to follow the dream of owning their own business.

With unemployment figures hitting all time highs and credit markets tight, many individuals are taking the opportunity to follow the dream of owning their own business. Regus the world's leading global provider of innovative workspace solutions have put together five essential tips for any budding entrepreneur and small busineses owner on how to maximize their long-term success, stand out from the crowd and minimise potential financial risks.

1. Focus on what you do best and outsource the rest

Administrative and support services are necessary for any business, but the costs and time expended managing these services may not be worth the investment for a small organisation. Rather than hiring an office manager or worrying about which internet provider to select, focus on what your business is really about and let someone else handle the rest.

2. Project a professional image on par with your services

A professional image is crucial to any entrepreneur's success. Potential investors and customers judge you on how you present yourself and your business. One critically important element of a professional presentation is an impeccable office where you can entertain potential clients and investors. Having a Sydney Darling Park or Melbourne Rialto Towers address can also add a level of prestige to your business that is hard to put a price on, but leasing traditional space there may still be cost prohibitive.

3. Spend wisely

Whether striking out on your own for the first time or maintaining an established small business, your company's long-term success is dependant on making more than you spend. Spending wisely doesn't mean cutting corners; paying your employees well and your bills on time is important, but too many entrepreneurs spend on things they don't use or don't really need. It is wisest to spend only on essentials: good employees, technology, marketing; not on that really great, but expensive, espresso maker.

4. Grow wisely

As the world becomes increasingly interconnected, having presence outside of your local area may be an important part of your business's growth. However, expanding your business, whether nationally or globally, can be an expensive and risky undertaking. Make sure that you have researched new markets extensively and are confident you have the tools necessary to succeed in these uncharted waters. Often it is best to dip one toe in first before you take the plunge. Try a part time or virtual office for several months and set strict goals for performance before setting up shop permanently.

5. Network, Network, Network

Meeting other entrepreneurs is critical to creating lasting business relationships and expanding your business. Whether it's joining groups of other entrepreneurs or using social networks to connect with business leaders in your industry, networking is a great way to expand your professional contacts, gather advice, information, and raise your professional profile.

About Regus Australia and New Zealand
The Regus Group is a leading providing of workplace solutions and serviced offices in Australia and New Zealand. Regus has 20 business centres in major metropolitan cities including serviced offices in Brisbane, Sydney, Melbourne, Adelaide and Auckland. Australian and New Zealand clients benefit from access to services ranging from virtual offices, to fully equipped offices, professional meeting rooms, video conferencing studios and business lounges.

For more information visit http://www.regus.com.au or http://www.regus.co.nz.

About the Regus Group
The Regus Group is the world's leading provider of pioneering workplace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the largest network of videoconferencing studios. The Regus Group delivers a new way to work, whether it's from home, on the road or from an office. Clients such as Google, GlaxoSmithKline, and Nokia join thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to The Regus Group, allowing them to focus on their core business.

Over 500,000 clients a day benefit from Regus Group facilities spread across a global footprint of 1000 locations in 450 cities and 75 countries, which allows individuals and companies to work wherever, however and whenever they want to.

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David Peiris

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