Australia boasts a conservative 5.8 percent unemployment rate. While this figure may be envy to most countries in the world, the need to reduce the unemployment rate still lingers, the all-time 1978 low of 4.0 percent still fresh in the memory of most of its citizenry. One factor attributed to these low figures is the growth of entrepreneurs. Citizens have grown to create job opportunities rather than ask for their respective government’s intervention. If the numbers of small and medium enterprises are anything to go by, Australians seem to have been bitten by the investment bug.
An increasing number of successful Australian entrepreneurs continue to make headlines from all the right reasons. Their genius is evident in their numerous investment ventures and massive profits they have been able to reap from these activities. Their investments vary from traditional businesses to the new age tech businesses, whatever they choose; they have been able to convert the proverbial haystack into gold like Rumpulstelstkin. Some of these investors range from the age of early twenties to mid forty’s. The recently compiled list of entrepreneurs to watch in 2014 includes, Matt Barries, Tom Water house, Josh Guest amongst others. While they all have one factor in common, they tend to differ on how to start a successful business. While not on account of their own admission, but as the adage goes actions speak louder than words.
Take the case of the Freelancer, the online crowd sourcing community, boasts a massive global following. Not only has Matt Barries stepped in to line pockets of the firm’s owners with cash but also able to solve a global headache of unemployment. Killing two birds with one stone. While the key motive of most entrepreneurs is to use factors of production like land labour to bring about profit. Well Adam Smith and other economists of yore, would beg to differ or might alter the meaning of land to fit into Matt’s entrepreneurship model. However, the ability to utilise labour in different parts of the world, in different time zones, to bring about completion of duties to customers satisfaction is still subject to study. One conclusive finding is that, one rarely goes wrong when it comes to internet businesses. Perhaps that explains the world top earners can trace their origins to the Silicon Valley. Forget the massive infrastructure and capital intensive traditional businesses like real estate, all you need is a laptop and small capital and off you go, your online business is on the way.
Who said business pedigree doesn’t exist. The Hiltons, Rockefellers, Rothschild’s, have one thing in common, the business genetic code that flows in their blood. One such Australian example is of Tom Waterhouse.Coming from a rich history of bookmakers; this 30 year old has transformed a family business into a cash cow. By bringing betting houses, casinos, to the electronic world, the hassle to Las Vegas or super secured casinos has been minimised. Robbie Waterhouse’s son must have found venturing into untested waters and the Columbus like venture into undiscovered investment lands particularly taxing, so what better ways to mint millions than to digitalise pops old business? After all he already knew everything about the business. Next time you want to start a business, a quick look into the family tradition might prove to be a game changer.
There are several offline and online methods used by business owners to improve their business profits in Australia. The most important business tip is to ensure that you spend much of your time dealing with the most essential issues. A good number of business owners do not spend enough time trying to expand their business. To improve your business profits, consider hiring a professional or help to guide you through out the expansion period.