Once your business is established, there are a few ways you can think about increasing your business opportunities and growing revenue. Below are a few key tools and resources that you might like to consider. You can also click here for a full range of business growth topics, courtesy of Business Queensland.
Upskilling you and your staff
Successful businesses must be nimble and ahead of the curve, and keeping yourself skilled across a range of business topics will ensure that you remain competitive. Updates to business legislation and reporting requirements, changes to workers’ rights and local economic conditions can all impact your business’s ability to run smoothly and turn a profit. As the director of your business, it is your responsibility to make sure you understand any changes and how they effect you.
Many public and private agencies offer upskilling workshops and webinars to small businesses, start-ups and entrepreneurs across the Central Highlands region. Events of interest will be advertised in our fortnightly eNews, but you can search for events at any time using the below links:
Queensland business events – Business Queensland
Australian government business events – Business.gov.au
Applying for tenders
Tenders allow your business to become part of a wider supply chain for public and private business opportunities. Most often, the public sector will invite private companies to submit tenders for a range of goods and services.
Although each tender process is different, there are few main things to consider:
- You should always thoroughly read the tender document and requirements to make sure you are eligible to submit a tender response;
- You should plan your tender response carefully, taking into consideration your current resourcing commitments, costs, project management capability and how you plan to win the contract;
- You should read through previously-awarded contracts, paying particular attention to contracts awarded by the government agency you wish to win business from;
The Business Qld website has great resources for companies looking to submit tenders for the first time. You can check it out by clicking here.
CHDC also releases a list of Tenders weekly to subscribers on our eNews database. If you’d like to receive the latest Tenders straight into your inbox, click here.
A capability statement is a powerful tool that showcases the experience, successes and capability of your business. It tells potential customers exactly what your business does, how it can help them and how your business has tackled similar problems before. A well-written capability statement can help your company stand out against your competitors and provide you with the edge to win business.
You will likely need a capability statement when responding to public and private tenders. Decision makers will look at your capability statement as a key resource that verifies your company’s abilities against the assessment criteria for the tender. Keep in mind that, given these decision makers are usually time-poor, your capability statement should be easy to read. It is also important that your capability statement is concise, targeted and personalised for each tender.
Writing a capability statement can seem like a daunting task at first, so we have developed a template guide below that you can use to get started. You can also check out this great resource from the South Australian Government.
Finding a mentor
Finding a mentor can be a fantastic way to open up your business to opportunities that you hadn’t previously considered. Business mentors usually work alongside their mentees to develop strategies, critically analyse their current operations and find ways to grow revenue.
Business mentors usually have extensive experience in business and can also help you by expanding your business network. Some industry bodies offer mentoring programs so you should check out yours and see what is available.
Business Qld have a range of mentoring programs for businesses looking to grow. You can read more about the programs by clicking here.