It’s that time of year when we all get ready for a well-earned break and some serious festive action! But also the time to hit refresh for the new year and some goal-setting to give our business a spruce and get ourselves ready to thrive. We chatted with Pin Payments to find out some hot tips (we love hot tips) and to learn how small biz might start to get the wheels (or propellers) in motion to scale (let’s grow!) and spread small business wings into overseas markets.
Just meeting Pin Payments for the first time? Let us introduce you! This Aussie payment platform helps small businesses accept online card payments. From solo entrepreneurs to businesses with global ambitions, they take care of your payments so you can focus on what you do – BUSINESS. Accept payments from your website, invoice, favourite business platform or set up recurring payments from their platform.
What does scaling a business mean?
When we talk about scale, it’s about increasing your business operations and revenue with minimal cost while leaning on your resources and expertise.
Can you share some tips for small businesses looking to scale?
- Understand what your audience wants: Take time to understand what is or isn’t working for your customers. Talk to your customers and get them candid about what they’d like to see more of and what they could do without. Then, rinse and repeat.
- Embrace online: It is cost-effective and can go a long way in helping you scale. We’ve seen proof of this during the pandemic, as everyone resorted to remote ways of working, shopping and catching up with friends and family. If you wonder if there’s a way to simplify your business, chances are there is an online tool that can help you. Don’t be afraid to find a new solution that can help you reach new customers or improve your customers’ experience.
- Find a payment partner who understands your needs: Find a payment partner who can look after you through the different stages of your business. You’ll want someone who doesn’t lock you into a contract and has the appropriate payment tools for your business.
Tell us how Pin Payments can support a small business in selling its products overseas.
When you think about going international, the first thing that comes to mind is how to sell in a different currency. As your overseas business customer grows, you probably have suppliers you need to pay in foreign currency. You’ll want the flexibility to accept and settle in foreign currencies instead of being forced to convert back to AUD – and we are here to support that need.
What other tools do you recommend to small biz looking to scale?
- Online accounting tools such as Xero can help you manage your finances and track your cash flow.
- Adopt a multi-region strategy: Your marketing and website content will likely get more hits if it matches your audience’s currency and pricing. Most off-the-shelf eCommerce solutions, such as WooCommerce or Ecwid, have this capability as part of their platform.
Meet 3 Aussie businesses scaling with Pin Payments:
1. Fig & Bloom founders Kellie Brown and Dan Groch started their business from their garage. Their strategy was to move slowly but on their own terms. They’re now a national online business and have not looked back!
2. Aussie Holiday Stays started as a WA-based homestay platform. Founder Amanda Walker realised there was an opportunity to scale nationally after receiving interest from accommodation providers in other states. We helped her realise her ambition by helping her grow nationally.
3. Globetrotting founders Kate and Steven Pilcher founded their boutique horse riding travel agency in Queensland in 2008. As the number of destinations they offered grew globally, they needed a simpler and faster way to accept multi-currency payments. That’s where we came in.
Learn more about how you can grow your business and scale with Pin Payments here.