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Fallen in love with a new idea?

BUSINESS BUILDING

Published: 

As a creative, there’s nothing like that first flush of a new love. You think about it first thing in the morning, it occupies those sleepless hours, you drift off to sleep thinking about it. Everything else pales in comparison.

Yes, there’s nothing as alluring as a shiny new idea.

AUTHOR

The PXT Team

Co-founder @ Pixel Together


Monday 27th June 2022

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Image credit: Eden Constantino

From the time you have a new idea to the point that you decide to go ‘all in’, a lot can happen. Whether you’re working for an employer and building a business on the side or already running your own business and pursuing something additional, testing and timing is really important. If your idea takes off, you can make a better informed decision about whether it should become your focus. If it turns out to be something smaller, congratulations on your new revenue stream!


A side gig is a good thing


The last few years have reinforced the importance of building yourself a buffer. And if it doesn’t work out, every new project will teach you more skills which you can bring back into your job or business.


Finding inspiration


Feeling a bit lacking in ideas? That’s fair. There have been … things going on. If you’re keen to explore something new but you’re not sure exactly what, it’s time to be pragmatic and think about your skills. Is there something you love to make? Something you could teach other people through an online course? Or maybe there’s something that you’re keen to learn about, that you could in turn create content around? Alternatively, if you have a special connection or can see a gap in the market you might just see an opportunity for importing or even manufacturing a product.

Note that whatever you choose, it’s important that you feel passionate and connected to your side gig because even if it’s not your main focus, it’ll still mean time and energy.


Setting up a new project


Book in the time
The best way to get a new project going is to approach it like your second job. One easy way to do this is to create a routine and stick to it. If you use an online calendar, create a calendar for your business and block that you’ll spend working on it.


Read more about getting it all done on Extraordinary Routines, a site for creative people


Create your site

Giving your new idea a site is the thing that really makes it real. A URL, a brand identity, and a home on the internet. A site also lets you get a much better understanding of whether your idea has legs.

If you choose Pixel to host your site, you can bundle five sites together for the price of three, saving you money as well as keeping things simple.

Tracking site visitors, enquiries and mailing list sign ups will start to give you some metrics and ideas for what you can adjust to grow your business. Along with your website, if your business idea lends itself to a social media presence, you can create bespoke accounts.

Psst! Are you following Pixel Together?

'If you have a special connection or can see a gap in the market you might just see an opportunity for importing or even manufacturing a product'

Keep things separate

Once you start to invest and eventually make money, a separate bank account for your project can make life easier at tax time.

If you’re in Australia, here’s some local tips below to help get you up and running.


This report from Canstar is a good place to do some research into your bank options.


Apply for an ABN

In Australia, if you’re not currently registered for an ABN, it’s a good idea to chat to your accountant to find out how you should best structure your new business. 


An Australian Business Number (ABN) is necessary when your business brings in income. If you think they will apply, you can also register for tax obligations such as GST and PAYG withholding.


Get inspired

Doing something new can feel a bit lonely or even scary at times. Podcasts are one way to hear stories from other people who are trying something new- here’s a great list to get started with.

'Once you start to invest and eventually make money, a separate bank account for your project can make life easier at tax time'

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AUTHOR

Published: 

Monday 27th June 2022

Co-founder @ Pixel Together

The PXT Team

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