Skip to content

Three business ideas for your clients

Ideas are a dime a dozen. But what are good ideas worth? Well, we can tell you Moula’s business ideas for 2020 are priceless. And that’s because we’re giving them to you for free so you can share them with your clients.

Work that business plan

Everyone has that friend, or perhaps client, who flies by the seat of their pants. These people power forward with less haste, more speed, preferring to skip steps A, B and C and go straight to what they think is step Z. Elon Musk and Mark Zuckerberg are good examples. After all, entrepreneurship is about doing, not planning. Some of the most successful business feats have indeed been pulled off with not much else other than elbow grease. Until it comes time to secure funding, of course.

Now, being the start of a new year, is as good a time as any to gently prompt these clients (perhaps even these friends!) to get their ducks in a row. If they have less money than Musk and enough sense, they should have a current business plan.

It may have been sometime between classes, so let’s take a quick refresher course. Moula’s Business Plan Template is a good place to start, with the Product-Market Matrix a useful complement.

What is the Matrix? The answer is here

It may not blow your mind quite like the movie The Matrix, however, wait for it, this Matrix arguably goes one better, possessing the potential to change the trajectory of one’s business. Also known as the Ansoff Matrix, the Product-Market Matrix has legions of fans in business circles.

The Product-Market Matrix can help businesses identify ways to grow through market penetration, product development, market development and diversification. It’s prudent for SMEs to know which direction they want to grow before applying for a loan.

For a new business or one with cash flow problems, a market penetration strategy is probably lower risk. Maturing businesses with access to funding are probably more inclined to look at the Matrix in a different light. These are the businesses that have greater access to finance, perhaps setting their sights on developing products and/ or markets.

Unlike the movie, this Matrix may help your clients put things in perspective. For example, as the Product-Market Matrix shows, diversification in business is associated with moving up the risk curve, whereas diversification in other contexts, such as investing, is often associated with moving down the risk curve.

One last (first) thing

Because we know you’re such a quick learner, we did skip over a couple of lessons in this business refresher course.

That goes with saying, before encouraging clients to go to town on the Business Plan Template or master the Matrix, ensure they have their books in order first.

According to the Australian Small Business and Family Enterprise Ombudsman, up to 45 per cent of small businesses don’t use accounting software to maintain accurate and up-to-date financial records. If your clients are in that bucket, you may want to gently remind them it’s time to start using accounting software and updating their records on a regular basis.

Good accounting is worth its weight in gold. And perhaps worth even more when seeking a business loan.

These are just a couple of Moula’s good business ideas for 2020. We wouldn’t want to shortchange you through a shortage of good tips. If you’re interested in learning more, check out 20 Business Ideas for 2020.


Business content for Australian SMEs. Sharing guides, growth hacks, and expert tips on finance, sales and marketing, and tech.

Get a repayment schedule

Close form panel

We’ll send the results to your inbox right now.

Email sent

Your email is on its way!

Something went wrong

Your repayment schedule email was not sent. Please call us on 1300 88 09 72 for assistance.