Founder and director of bridal retailer Glamour Bride, Pat Giuliano, always had a dream to own her own bridal shop. Like so many aspiring small business owners, at first, she didn’t have the capital to make it happen.
Giuliano started her dressmaking business from home, working around her family of three young children, and began her online bridal accessory business in 2008.
“At the very beginning, you find yourself saying, ‘Where do I start?’”, says Giuliano.
At the beginning of the setup journey, you’re going to hit a number of stumbling blocks, whether it’s securing investments or managing admin tasks.
The setup stage can seem daunting, says Giuliano, [with so many tasks ahead of you] one of the first things you can do to is decide on a business name and then check its availability.
“Then you need to secure the domain name, register for an ABN and set up a website.”
All of these areas are absolutely vital in today’s landscape if you want customers to find you, she says.
The processes involved with setting up a business when you just want to start getting your idea off the ground can seem arduous. ANZ’s Business Ready tool takes away that pain, helping you get ready for business in less than a day.
Money-smart tips for your business
When Giuliano decided to move into a retail outlet, an ANZ Small Business Specialist was on hand to help, after having been her banking partner since the launch of her online business.
“After several phone calls and submitting my application, I was approved for finance under the ANZ Small Business Pledge, allowing me to open my long-awaited bridal shop,” says Giuliano.
“The most important thing is to keep very detailed financial records of everything. This is very useful for monitoring growth, as well as knowing the financial health of the business,” she says.
“For tracking my finances I do all my banking online or on the ANZ Go-Money app on my phone.”
However, Giuliano warns small business owners not to try and do it all on your own – contact accountants, web developers and specialists in their field who can make a big impact on your business’s success.
Is there such thing as a ‘work-life’ balance?
“From the moment I wake up to the moment I go to bed at night, I am constantly either working or planning the next day’s work. I am dedicated and I put in tremendously long hours because I want my business to succeed,” says Giuliano.
If you’re ready to become your own boss, the first three to five years will involve sacrifice and long hours of hard work – “Now that the business is in the growth stage, I am taking on staff and looking forward to being able to delegate work to them, so that I can start to ease back on my workload.
“I will enjoy a work-life balance once I get to the point of being able to choose the hours that I can work. I am certainly looking forward to that!”
Written by: Thea Christie
This material does not take into account your personal and financial needs and/or circumstances, and you should seek appropriate advice (which may include property, legal, financial and/or taxation advice) before making any decisions or acting on any of the information contained in this material. To the extent permitted by law, all members of the ANZ group of companies disclaim liability or responsibility to any person for any direct or indirect loss or damage that may result from relying on the information contained or this site, or any act, omission or error, by any person in relation to the material contained on this site.
The post How this high-end bridal retailer funded her dream and turned it into a reality appeared first on StartupSmart.