123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Developing Your Micro Business Products

Profile Picture
By Author: Sarah Ryan
Total Articles: 45
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

What is a micro business?

A micro business is classified as one that operates with four people or less. Micro business is one of the fastest growing sectors in the NSW economy, making up 88% of the State's small businesses. (Source: ABS Cat No. 8165.0, Counts of Australian Businesses, Jun 2003 to Jun 2007).
Micro businesses may operate as a single operator or multiple employee business from either home, mobile, shared offices or commercial premises.

Lifestyle Factors

Operating a business from home has become increasingly common because of the digital revolution, outsourcing, the trend to self-employment and the growth of service industries. This accelerated emergence of micro business operating in recent years can also be linked to better technology and trends toward more flexible lifestyles. Apart from the economic value this growth entails, local communities also gain with social and environmental benefits of those working from home.

Developing Your Products

Many micro-businesses are developing unique products and business services to bring to the market. They are also developing unique ...
... brands and trademarks. To check on the commercial viability of your product we suggest you seek an innovation consultant which specialises in commercialising products or services. The first port of call can be the NSW Innovation Advisory Service, which provides an initial free consultation to assist you get on the right path. They are specialists in product commercialisation and will assist with streamlining your product development process and refer you to the appropriate expertise for each step of the way.

Also, consider securing your trademarks, patents and copyright for manuals and written material. The Innovation Advisor will again assist with this process. They are also business strategy consultants and will discuss the best business model for bringing the innovation to market via licensing or capital raising.
Product development is not for the faint hearted, but can be enormously rewarding. Seeking advice at the correct stages can save much time, heart-ache and money.

You may wish to check out the viability of your product before meeting an innovation advisor. The NSW state government has developed a resource, called Ideas Online, where you can self-assess the idea, its protection, the business case and options for reaching the market place. You will be asked over 40 questions and it is valuable to be brutally honest when answering those questions. Enter Ideas Online.

The NSW Innovation Advisory Service is funded by the NSW state government to support innovators and small business commercialize their ideas, products and services. Services include preliminary patent search, technical assessment and market reviews through to licensing and capital raising. See www.ausinvent.com for more information. Dan Liszka is the Managing Director of Alchemy Equities, the firm which is contracted by the state government to deliver the NSW Innovation Advisory Service.

For more information on Business Strategy Consultants, Innovation Consulting Firms and Innovative Consultancy. Please visit: http://www.ausinvent.com/

Total Views: 174Word Count: 467See All articles From Author

Add Comment

Business Articles

1. Lucintel Forecasts The Global Wall-mounted Ac Ev Charger Market To Grow With A Cagr Of 22.4% From 2025 To 2031
Author: Lucintel LLC

2. Technology Landscape, Trends And Opportunities In Global 3d Printing Photopolymer Market
Author: Lucintel LLC

3. Lucintel Forecasts The Global Smart Home Market To Reach $372 Billion By 2030
Author: Lucintel LLC

4. Second Marriage Matrimonial – Verified Matches & Free Registration
Author: Truelymarry

5. Core: Leading The Way In Managed It Services For Businesses Across London
Author: IT Management

6. The Role And Function Of A Collection Agency
Author: Bennett Carter

7. Understanding Debt Collection Agencies: What They Do And How They Affect Consumers
Author: Bennett Carter

8. How To Use An Smm Panel Effectively For Fast Social Media Growth
Author: Smm Panel

9. Essential Tips For Beginners And The Power Of Professional Editing
Author: Sam

10. How To Improve Field Staff Efficiency With Geolocation Tools
Author: TrackHr App

11. Building An Effective Energy Management System
Author: Jane

12. Internal Auditor Training: The Key To Effective Risk Management And Compliance
Author: Sqccertification

13. Why Accurate Accounting In Property Management Is The Key To Higher Roi
Author: Harsh Vardhan

14. Kaal Sarp Puja In Trimbakeshwar – Benefits, Process & Trusted Pandit Contact
Author: Pandit Milind Guruji

15. Data Entry Vs. Data Processing: What’s The Difference And Why It Matters
Author: Allianze BPO

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: