Bennetta's City Council Welcomes You
Doing Business the Right Way
What we have to offer
Bennetta's city council of fashion
Hello there! it a pleasure having you today. I am the CEO of Bennetta's city council and I guess your here for some sort of business enquiry? well, you have arrived at the best place! please make yourself feel at home.
Explore the rest of our site to learn more about what we have to offer, and get in touch with any questions. Bennetta's City Council is here for you.
Business motivations & inspiration
Having your own business is quite useful in terms of increasing personal wealth, improving owns status, making an investment, choosing your work location, as well as being your own boss in decision making. But firstly, when commencing a business, always have a business plan and a clear vision of what you wish to achieve with your business. Opening a business can be quite scary and overwhelming, but it’s a step by step process which requires patience and dedication. However, always expect the unexpected and be willing to learn from your mistakes. To become a successful entrepreneur there are a few basic skills to acquire, but firstly an entrepreneur is a businessman or woman who sets up a business, taking a financial risk in hope of profiting. Risk-taking is the essential skill to become a great entrepreneur, due to being unaware if your business is going to make a profit or a loss. Another significant skill needed for a business to grow is creativity. Creativity is highly required, especially when your business is not a niche, meaning that you will have many competitors and your creativity is what will attract your future customers to your business, and always try new things to see what best works for you. Also, you will need perseverance, because not every business starts with a boom, and you'll have to undergo the growth and establishment phase. Also many successful entrepreneurs suffered devastating failures, but through perseverance and passion, they kept striving to reach their dreams.
Entrepreneurial skills
Risk taking
Communication
Project managment and planning
Problem solving
Networking
Creativity
Knowing your target market
Learning
Communication and negotiation
Marketing, sales and customer service
Mission & Vision statement
It’s important to communicate your business’s purpose and goals to the market place, a market place is an open place where people buy and sell things. A way to express your business’s purpose can be done through vision and mission statement. A vision and a mission statement are very similar. A vision statement is the future of the business, such as the hopes and dreams meanwhile a mission statement is the overal results of the aims and value of a company. Having a good mission statement can potentially draw consumers to your business. Below are some different mission statements from different companies :)
BIG W
"We are on a mission to deliver the best in convenience, value and quality for our customers".
IKEA
"Offering a wide range of well designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.”
TARGET
"Our mission is to make Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional guest experiences by consistently fulfilling our Expect More. Pay Less. brand promise".
FOOTLOCKER
"To be the leading global retailer of athletically inspired shoes and apparel", (
COLES
"To give the people of Australia a shop they trust, delivering quality, service and value.” Our customers come first – always!"
Know your consumers
Target Market
Another important segment in business is knowing your target market, but having a USP (unique selling point), will make you more attractive to potential consumers, such as doing some sort of market research, which will be helpful in terms of knowing your competitors and what services they have to offer. Understanding your business segments is a way of learning various ways you can segment your business. Knowing your target market helps your company to generate effective marketing communication strategies. Also, give your consumers a fair price....below are some teams which you may be interested in.
Products
These are a few easy products which you may be intrested in. Remember every business starts small
Product
Branded bags
Product
Customized phone case
Product
Designer glases
Product
Branded shoes
Business segments
There are four primary sections of business segmentation
Demographics
Demographics are the age, gender, location, culture and education level of your consumers (B2C)
Firmographics
Firmographics are the attributes of a company or an organisation (B2B),
Psychographics
The Psychographics are the interest, values, and lifestyle of your consumers (B2B/B2C), lastly, we have the behavioural segment, which divides consumers according to behaviour patterns as they interact with a company
Business Structures
All you need to know about business structures
When your planning a business, you should always choose a fundamental business structure which is suitable for you and your circumstances, but be aware that each business structure has advantages and disadvantages. There are four legal structures when it comes to business that you need to know about. firstly, you would need to know what a cooperated and incorporated business’s as well as liability and unlimited liability in a business.
Business structures
PRIVATE COMPANY
Whos is a sole trader?
A sole trader is a self-employed business. Being a sole trader allows you to see if your business will be successful before committing too much time and effort, there is 100% ownership of all profits, they do not need to complete a separate tax return for their business, most sole proprietorships are easier to establish, with less expensive to operate, and its easy to change business structure. Although there are advantages, it can also be difficult in terms of acquiring start-up finance, but I’ll recommend you use equity finance, in other words your own money. There is unlimited liability, no access to tax advantages, and it is labour intensive, as you are the only owner.
LEGAL OBLIGATIONS
After deciding which structure suits you and your capital, it’s time to be aware of your legal obligations. The first process in making your business legal is to complete a series if registrations. When registering your business, you are required to be a wear of your tax file number, health regulations, zoning and Australian competition and consumer commission. But, the first obligation required for starting a business is having an ABN also known as Australian business number. This is important because you’ll need to keep track of business transactions for tax purposes. After registering for an ABN I’ll personally advise you to register for a GST, goods and services tax. This registration is needed so you can claim GST credits for any GST you have paid for and used in your business. A trade mark is optional, it is highly required for you to trademark your business name because if another business tries to use your name or a similar name to your business, you have legal remedy to stop them and also protect you from counterfeit products. And also getting a patent from IP Australia is another way of excluding others business from your inventions.
If you want to go fast, go alone. If you want to go far, go together.
Bennetta Mendekia
As a business you want to contribute to a positive change in the world so always consider ways to help the community, such as protecting the environment and contributing to social welfare, this act in a business is known as cooperate social responsibly (CSR). A business will not succeed without having good ethics, CSR and morals. A business should always be honest with its employees, stakeholders, investors, customers, profit and revenue. When hiring staffs its your responsibility as the employer to ensure the safety and a healthy working environment, as well as paying your staff with fair wages. Corporate social responsibility does not only benefit the well-being of the community but it also improves a company’s bottom line.
Contact support
If you have any pressing questions, dont be affraid to contact me on +61 000000000.
Bibliography
Target mission, vision and values, accessed on the 10th of may 2020 , comparably target,
published on february 2020
https://www.comparably.com/companies/target/mission
About us, woolworths, accessed on the 15th of may 2020, published on january 10 2020
https://www.woolworthsgroup.com.au/page/about-us
Ikea mission and vision statement analysis, ikea, accessed on the 27th of april 2020, published
on november 12 2019 https://mission-statement.co
business, L. . (2020, 2 12). Retrieved from https://www.business.gov.au/Planning/New-businesses/Legal-essentials-for-business
cycle, B. . (2020, january 17th). Retrieved from https://wwwthe .business.gov.au/Planning/New-business es/Legal-essentials-for-business