let's talk business december 2014
DESCRIPTION
Small Business articles, tips and ideas from a range of skilled and experienced small business experts.TRANSCRIPT
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 1
Let’s Talk Business Back To Basics Business Solutions - Support for Small Business
Merry Christmas & Happy New Year
A Successful & Prosperous 2015 To All
Inside this issue
Inventors & Inventions ........2
5 Questions Every Boss Needs
to Ask and Answer
Dr Tim Baker …..….............3
Biz Snippets …………….......4
The Small Business Marketing
Plan
Dennis Chiron………...........5
7 New Year Resolutions for
Better Time Management
Angie “Speedy” Spiterie ….6
Continuous Partial Attention
Geoff Butler ………………..7
7 Uncomfortable Facts About
Not Forecasting Your
Business Cash Flow
Dan Buzer ……..…………...8
A Pleasurable Outcome -
Avoid Distractions
Karen Ahl ……..………..….9
“So, This Is Christmas”
Jo-Anne Chaplin………….10
Your LinkedIn Lifestyle
John Bellamy ……………..11
Why Credit is Declined
Paul Gillmore……..............12
Setting a Calendar of Events
Peter Nicol ………………..13
Celebrate - But In Moderation
Denis Keating …………… 14
Ethics in Business
Dennis Chiron ……………15
Editor’s BizTips ……….….16
LTB Objectives …..........…..17
Volume 2 Issue 25 - December 2014
(From all of the Authors who have contributed to LTB during 2014)
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 2
Inventors & Inventions
Potential Millionaires Miss Out
Windows XP
Wallpaper
Creator
Retired National
Geographic
photographer Charles O’Rear was
driving through the semi-rural
countryside of northern California,
when a he spied a vista of rolling
green hills and clear blue sky.
He set up his camera and took four
shots of the vista before the clouds
rolled in.
Charles sent this four photos to a stock
- photo sales group, Corbis, and then
thought no more about it.
Then a few weeks later, Microsoft
contacted him, and wanted to buy the
four photos outright. Charles had no
idea what Microsoft intended to use
the photos for, but accepted their
offer, and he was paid a flat fee - an
amount that he has never revealed.
It was only later that he the photos
were used as the default desktop
background for every computer
running Windows XP, arguably
making them one of the most sighted
pictures in history.
Charles has since stated that had he
know what would have happened to
the images, he would have negotiated
some sort of royalty deal. But that
doesn’t mean he is bitter.
“I’m just thrilled that so many people
gain pleasure from my photographs”
Karaoke was
invented by a little
- known Japanese
musician
Diasuke Inoue was
born in Osaka,
Japan in May 1940.
He was the son of a pancake vendor
with a stall behind a train station.
He started playing drums in high
school, but was not recognised as
being particularly skillful, so he
took on the business management of
his band, which provided back-up
music in a club for businessmen
who wanted to take the stage.
He developed the basic idea of
karaoke, which means "empty
orchestra", when one client wanted
Inoue to back him during a business
trip that Inoue could not attend.
He supplied the businessman with
taped accompaniment instead.
Thinking that the idea might have
widespread appeal, in 1971 he
began renting machines outfitted
with tapes and amplifiers which he
had assembled, to bars in Kobe.
They proved popular, and so a trend
was born.
Karaoke quickly become huge not
only throughout Japan, but
throughout the world. However, he
never patented the idea, nor ever
received a penny for the millions of
units sold that were based on his
concept
World Wide Web
Creator Never
Patented It
The person who is
most recognised as
creating the World
Wide Web, is Tim Berners-Lee.
A graduate of Oxford University and
a computer scientist, in 1989 he
proposed a system for exchanging
information between computers and
he designed the language of
accessing and linking documents
online.
This was the Hypertext Transfer
Protocol or better known as http.
A few months after proposing the
concept, he had developed the
system and had in place and, in
August 1991, the world’s first
website info.cern.ch (http://
info.cern.ch/) went live.
Berners-Lee is now director of the
World Wide Web Consortium, which
monitors international standards and
research.
But what did he get for creating the
World Wide Web? Nothing!!
In 2004, he was knighted by Queen
Elizabeth II for his pioneering work,
and is now Sir Timothy John Berners
- Lee
He could have patented it, but chose
not to because he thought it was too
important to be owned by any one
person.
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 3
There are really only five questions
that a manager needs to ask and be
able to answer to improve the
performance of employees. What are
they?
The first question is: What exactly are
my expected standards of
performance? If a manager has
trouble answering this question then
they can be confident that the people
who are suppose to meet those
standards will be unsure or confused.
So the second question is this: Have I
communicated my standards
persistently and consistently to my
team? Many managers will strongly
suggest to me during an executive
coaching session that they have done
this; that is, communicated their
standards.
But when I get the opportunity to ask
employees to indicate the standards of
performance expected of them by
their manager they quite often give a
different answer to the manager. The
key here is to constantly explain and
reinforce those standards moment-by-
moment, incident-by-incident, crisis-
by-crisis, situation-by-situation and so
on.
The third question then is: Do my
employees each know how they are
faring against my standards of
performance? Again, the feedback I
get from employees across 21
industries is that we don't get enough
feedback from our manager. This is
one of the many problems with the
traditional performance review. It
happens once or twice a year. The
manager saves up all his or her
feedback until this event and then lets
fly. The employee hears nothing
throughout the year between
performance appraisals.
The fourth questions is: What can I do
as a manger to assist you to either
consistently meet those standards or
to exceed them? Once employees
know where the cross bar is on the
pole vault, they have something to
aim at. The manager is partly
responsible for helping his or her team
to meet the cross bar. The employee is
still accountable for his or her results.
But good managers see themselves as
a facilitator of achievement. Their job
to get the very best from their team
members.
And the fifth and final question is: Are
you (the employee) committed to
meeting these standards I have set
now and in the future? This is often
not put to employees as a question by
managers. They assume that the
employee is committed to meeting the
set standards. This is not necessarily
the case.
If you ask an employee: Are you
committed to meet these standards? it
puts the employee in a situation where
they have to verbally commit. What
you are after is a nod, or grunt or yes.
But you want acknowledgement that
there is a pledge to meeting standards.
Of course if you don't get a positive
reaction, you can ask why? And this
then becomes an interesting
conversation in its own right.
Merry Christmas and Happy 2015
to you and your families.
Dr Tim Baker
Managing Director
WINNERS AT WORK Pty Ltd
www.winnersatwork.com.au
www.about.me/tim.baker
Telephone. +61 7 3899 8881
Five Questions Every Boss
Needs to Ask and Answer
Editor’s Note:
Dr. Tim Baker is an international consultant, successful author, keynote speaker, master trainer, executive coach, university lecturer and skilful facilitator.
In a nutshell, he has conducted over 2,430 seminars, workshops and keynote addresses to over 45,000 people in 11 countries across 21 industry groups.
"“Dr Baker leads the world in
offering an innovative new approach
to appraising employee performance.
His research and energy in the
specialised field of performance
management is evidenced by his
international profile as a renowned
speaker, management consultant and
facilitator".
Testimonial from Stephen Hartley,
Australia’s leading expert on
project management and author of
"Project Management: Principles,
Processes and Practices.
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 4
English Is Such a Crazy Language
FYI: Homographs are words that of like spelling but with more than one meaning:
1. The bandage was wound around the wound
2. The farm was used to produce produce
3. The council tip was so full that they had to refuse more refuse
4. He could lead if he could get the lead out
5. When shot at, the dove dove for cover
6. I object to seeing that object
7. The insurance was invalid for the invalid
8. They were too close to the door to close it
9. The wind was too strong to wind the sail
10. I had to subject the subject to a series of tests.
__________________
FAMILY TREE OF VINCENT
VAN GOGH (always pronounced
as Van GO)
His dizzy aunt - Verti Gogh
The brother who ate prunes - Gotta Gogh
The brother who worked at a convenience store - Stop N Gogh
His magician uncle - Where-Diddy Gogh
His Mexican cousin - A Mee Gogh
The Mexican cousin's American half-brother - Gring Gogh
The nephew who drove a stage coach -Wells-far Gogh
The constipated uncle - Can't Gogh
HUMOUROUS
BUSINESS CARDS HUMOUROUS SIGNS
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 5
The Small Business Marketing Plan
Dennis Chiron Marketing Means Business
0451 184 599 www.marketingmeansbusiness.com
[email protected] Skype: dennis.chiron2
Every business owner shares one thing in common: The desire to create a stable, steady business that achieves profitability and grows over time.
But not every business owner knows the secret formula that makes that possible.
So what is that secret formula? In a word, it's marketing.
Marketing is for all business - big
or small
Without customers, your business would not survive. To attract and retain customers, your business needs to understand the value of marketing. People are unlikely to simply walk into your business and buy something from you if they don't know who you are, what you are selling and why they should choose you over the competition.
Many smaller businesses don't place enough importance on marketing. They often see it as something that requires a lot of money and fancy advertising campaigns. However, marketing is about much more than advertising and sales.
"But what does the word 'marketing' mean?" you ask. "Is it just getting the word out about my business? “Because I've done that, and I can't really see any difference."
In its most complete form, marketing is about much more than letting people know your business exists (although that's an important piece of the puzzle.) In fact, in many ways, getting the word out is one of the last steps in a good marketing plan.
A strong marketing campaign goes much deeper, and provides benefits that help you attract customers at the same time as you clarify achievable goals and create realistic plans to meet them.
At its best, a marketing plan helps you understand:
Your business
Your customers
Your competition
The full range of opportunities available to you
The optimal way to attack those opportunities
Appropriate pricing
The marketplace in which you operate
and a whole host of other issues that will help your business grow.
Whether you own a small or large business, if you're in the game to succeed, a well thought out marketing plan is one of the best tools you can employ along the way.
One of the most important tenets that you should find in all marketing plans which is common in all businesses, whether it is a small, medium, national or international company, is “The
Customer Is Always Right”
In order to succeed, companies must establish relationships with customers. The strong, lasting relationships that will ensure a company's success are built on:
Establishing trust and rapport
Understanding customers' needs
Providing real benefits
In many ways, these three imperatives all reiterate one central concept: The relationships between successful businesses and their customers depend on careful understanding and reliable fulfillment of human needs.
The business owner understands what people need, and does everything he or she can to meet those needs.
Understanding Customer Needs
Most business owners have an good understanding of their customers needs -- but that understanding becomes a much more powerful tool if you articulate and analyze it.
Only then can you fully understand how to most effectively build the kind of customer relationship that will help your business succeed over time.
As a starting step in your marketing plan, ask yourself the following questions:
Who are my customers?
Who are my potential customers?
What kind of people are they?
What are their incomes? What are their needs?
Where do they live?
Can they buy? Will they buy?
Am I offering them real benefits, when and how they want them?
Is my business in the best place?
Is my pricing right?
How do customers perceive my business?
Who are my competitors?
How does my business compare with my competitors'?
A good marketing plan can help you reach your target audience, boost your customer base, helps you set clear, realistic and measurable objectives for your business and ultimately, increase your bottom line.
A good marketing plan can help you reach your target audience, boost your customer base, and ultimately,
increase your bottom line.
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 6
Having a life beyond work is the
spice of life!
2. Stop doing stuff that adds no
value to your business now or in
the future. Before adding
something new to your plate stop
to decide if it's going to be of
value to you now or in the
future? (and if you don't know
what to stop doing download my
Instant Profit Calculator to find
out)
3. Do more of what counts. Get this
into your week first. Do it before
everything else. Kick off your
day with money making
activities… or the activities you
are paid to do.
4. Keep things simple. Keep your
systems simple. Your filing
simple. You don't need a million
ways to remind yourself of what
you need to do… you only need
1! Streamline your processes.
Cut out steps that don't need to
be done. Leverage technology.
5. Chip away… it's a progress not
perfection… Waiting till you
TimeEqualsMoney
Angie 'Speedy' Spiteri Business Efficiency Specialist
www.timeequalsmoney.net.au
Ph: 0403 970 732
http://www.facebook.com/time.equals.money
have time or till all your ducks
are in a row = it's never going
to happen. Just start… Just do
it. You will learn, you will
make mistakes and you will get
better. Just keep taking small
steps till it's done!
6. Plan… Planning helps you do
less. Have patient time lines…
remember you still have LIFE
to do as well… and most of our
stress comes from self-imposed
deadlines. Most people
overestimate what they are
going to get done in a day and
underestimate what they will
get done in a year.
7. Do 1 thing at a time… Doing
10 things at once is
STRESSFUL and gets you
nowhere fast. Stop scattering
your energy and attention…
Rushing, does not help you get
things done faster. Leave space
to get to things. Doing 1 more
thing is not going to get you
ahead. There will be lots of
things to do tomorrow too.
Laugh as often as you can.
Breathe. Be in a good mood.
Everything is easier when you
are in a good mood.
Need some help identifying what to
read and what to ignore? Try our
free tool: Instant Profit Calculator
Angie Spiteri is a highly sought
after speaker, author and consultant.
To connect with Angie visit
www.timeequalsmoney.net.au
Investor resigns after daughter, 10,
hands him list of 22 milestones he's
missed - Telegraph
This was one of the most popular
social media posts from in the last
30 days. (http://buff.ly/1zRgMWm)
Why so?? Because it strikes a
familiar cord with so many…
Because it motivates us to evaluate
how we are doing things so we don't
end up resigning too?
A study by Harris
Interactive indicates a 74 percent of
people would today consider finding
a new job. Mercer‘s What’s
Working study says 32 percent are
actively looking for a new position.
As 2014 closes and another year
opens it's time to sit down and make
new year resolutions…
It's time to get a grip and to decide
once and for all how you are going
to do things THIS YEAR. How are
you going to own the work life-
balance unicorn?
Here are 7 New Year resolutions
for better time management.
1. Always make time to connect
with those important to you and
to have some time for yourself.
In the end, another meeting,
another call… another <fill in
the blank> won't mean squat if
you don't have your family and
friends. There is always another
day to do work. Always another
goal…. but the whole reason
many of us get into business for
in the first place is for those that
are most important to us.
7 New Year Resolutions For Better Time Management
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 7
Become more alert by doing less
online.
We are living in a world that is
more connected than ever. There are
some definite pitfalls in our hyper-
connected world as it intersects with
our business relationships and
networking.
Hyperconnectivity can lead to a
state of ‘continuous partial
attention.’ A state of continuous
partial attention is a state where
people are giving partial attention to
what they are doing – continuously!
Face-to-Face Networking and
Social Media
Continuous partial attention can
hamper your relationship-building
efforts – both in your personal and
professional lives. When attending a
function of any type, it is
increasingly common to find people
who remain connected to their
social networks (beyond uploading
a photo or tweet about the event)
with mobile devices during the
meeting. I see this all the time at
networking meetings, a Chamber of
Commerce luncheon, or even a gala
dinner event.
Our desire to connect and be
connected is one of the strengths of
business, but when we are actually
in person at an event where we want
to effectively connect with others,
this desire can actually dilute our
efforts by driving us to stay ‘live’
on our online social media sites
instead of ‘live’ with the people in
front of us.
We have probably all experienced
getting pinged while we are in
conversation with someone at a
networking function. When we take
our attention off what is happening in
front of our nose to take a look at
what is happening on our phone, we
lose the connection with the person
we’re speaking to.
We will not remember this part of the
conversation well, if at all. And we
will send a subtle message to this
person that he or she does not matter
as much as the various pings coming
in on our mobile device.
Continuous partial attention can
hamper your efforts to build
profitable business relationships with
people.
We are paying the price for our
constant connectedness that is
affecting our real-time relationships.
The truth is that our brains are not
capable of multi-tasking. They don’t
work like a computer which can have
many programs running
simultaneously.
Our minds have to switch between
tasks, and whilst some of us can task
switch extremely quickly, seemingly
multi-tasking, we really
aren’t. Others of us task switch with
a little more difficulty, making it
extremely challenging to really pay
sustained attention to anything when
we try to multi-task.
Working While Distracted
Most of us work at our computers,
laptops or tablets with notifications
switched on: email, Facebook, Twitter,
Instagram, Google+, LinkedIn,
Pinterest, Skype, YouTube, Tumblr,
and Snapchat pinging and whistling as
notifications fly across our screens
shouting, ‘Look at me!’
Even people who do not have ADD are
working in a state of attention deficit
due to the distraction of all these
notifications! These are the people in
the ‘Prayer Neck’ posture – hunched
over looking down at their hands while
holding their mobile device.
Continuous partial attention keeps you
from being alert, attentive and focused
and can hamper your post-event follow
up, not to mention your day-to-day
activities.
Be honest. Who do you greet first
when you get up in the morning - your
spouse, kids, the dog OR your virtual
community? Do you reach for your
smart phone before you even throw
your legs out of bed to get up?
I have found myself doing that. I used
to never turn my mobile phone on until
after I was up, had exercised, showered
and eaten my breakfast. I think social
media is great. I use it regularly to stay
in touch and build relationships.
But knowing when to focus on the face
-to-face interactions and put
notifications on “Do Not Disturb” is
also extremely important in this ever
expanding digital age.
Geoff Butler FAIM AP, MAITD MACE
Principal/Business Improvement & Implementation Specialist
Business Optimizers
Mobile: 0414 943072
Fax: 3036 6131
Email: [email protected]
Skype: business.optimizers1
Continuous
Partial Attention
My Boss said that I don’t listen
At least I think that’s what he said
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 8
7 Uncomfortable Facts About Not Forecasting Your Business Cashflow
1. Increased stress level
Not knowing the future cashflow of
your business, either good or bad,
increases your anxiety about your
business. This then distracts you from
focusing on productive activity and if
you work with other people, they will
feel this uncertainty through you.
2. Lower sales
Having a forecast of projected sales
sets a target to aim for. Most people
understand the simplicity of setting a
goal will help you make more
progress than not having a goal at all.
3. Poor Morale
It’s important to have a feeling of
purpose and achievement in your
business. If your business is not
making a profit, or even if you are
making a profit but you don’t know
it, your energy to strive ahead will be
negatively impacted. Productive
people are happier people.
4. Hinders your confidence
An important part of being in
business is the confidence the leader
and Team have in that business. If
you don’t have a cashflow forecast of
your business, you don’t know how
likely the business is to perform well.
Not having an idea of where the
business is at reduces your
confidence in the business. How can
negotiate better deals, set up Joint
Ventures and attract high calibre
people without truly feeling confident
about the position of your business?
5. Not measuring your cashflow
makes you go broke
Let’s be honest. Its common knowledge
that most small and medium businesses
go broke. Many are started and run by
very intelligent technicians who deliver
excellent products and services. Their
downfall is they don’t know how to be
excellent business managers. One of the
most important tools of any professional
business manager is their ability to form
and update a cashflow forecast.
6. Leaky bucket syndrome
Many people in business believe that
increasing sales is always the best
solution and will guarantee the survival
of any business. They fail to realise that
if they are selling a product or service
that when all things are taken into
consideration is costing more than what
it does to produce and sell, they are
digging a financial hole for themselves.
Just like a leaky bucket, there’s no sense
filling a bucket with a big hole in it.
7. It’s so easy to do
People tend to put things they don’t
normally do in the ‘too hard basket’.
Often, once they commit to doing that
thing, they find it easier than expected
and often even enjoy doing it. It gives
you a sense of achievement for doing
something you normally put off but
know it can only be good for your
business. It’s a similar scenario for
many people with their physical fitness.
Once they actually commit and do extra
exercise they feel better about
themselves while doing the activity they
believed they would never enjoy
doing.
Summary
Having a cashflow forecast is one of
the most important fundamentals of
business. Large businesses and
companies are forced to continually
update their cashflow forecast
because their shareholders demand it.
The challenge for small and medium
business is the person in charge can
very easily ignore the activity and
convince themselves they are doing
something more important than
planning the future cashflow of the
business.
Time and time again, successful
business owners are advising other
business owners either starting out or
struggling, to take a moment and
document the current and most likely
in the near future income and sales of
their business.
Experienced business owners know
that this is the difference between a
professional business and one that
just means to get by.
So why not get it done today. Go to
www.profitmechanics.com.au or call
Dan Buzer 0n 0414 567 188 for your
complimentary Profit Mechanics
Cashflow Forecast template and
instructions. Plus, if you mention this
article you can have a complimentary
1 hour session with a Profit
Mechanics Business Development
Manager (BDM).
Business is More Fun When There’s
Profit!
Dan Buzer
Profit Mechanics
0414 567 188
www.profitmechanics.net/ [email protected]
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 9
As the saying goes...
“Do something you
love and you will
never work a day in
your life”.
Many of us are fortunate to work in
business that IS pleasurable. Our work
brings us pleasure. We enjoy it. But,
how do we avoid the allure of more
pleasurable activities. You, know, those
fun little distractions that seek out
attention preventing us from what we
would be better off doing in and for our
business?
To be more specific, I an talking about
the modern-day distraction of being
ONLINE.
The biggest distraction of all being,
Facebook.
Many of us LOVE to “stuff” about on
Facebook; keeping up to date with our
friends, family and gossip, but what
about our WORK? Whole Hours can be
wasted spent “being social” on social
media instead of “being savvy” and
promoting our business, building a
reputation and increasing our credibility.
So, here are some basic, time-saving tips
that we use to manage our FACEBOOK
TIME!
“...being social on
social media instead of
being savvy...”
To MANAGE your Facebook distraction
you can;
Make a schedule: A time to “be you”
outside of business hours & a time to
“be the business” during business
hours - this will help you maintain a
healthy balance between your need to
“be social” and your business’ need
for you to “be savvy”. Put it in your
dairy; your daily or weekly schedule.
I personally spend a few moments
over breakfast “being me” on
Facebook and spend at least 1 hour a
week attending to the Web-Sta
Business Facebook Page.
Give yourself a time limit: Get in,
get it done and LOG OUT. e.g.
20mins a day. Remind yourself WHY
you have logged into Facebook and
what you need to stay focused on.
Look at the clock and be mindful
when you need to have your task/s
done by. It’s about being efficient and
practical.
Scheduling future posts: Using
Facebook’s built-in scheduling tool,
you can login, once a week, add your
weeks’ worth of posts and it let go.
Your Facebook Business Page will be
on autopilot (not available for
personal profiles). This has to be one
of my favourite tools.
Prepare: Type up your Facebook
posts in Microsoft Word BEFORE
logging in. I also pre-save a folder of
images ready to upload to Facebook
before I log in. This is specially
helpful when scheduling posts.
Share someone else’s content:
Check your business page news feed
and share relevant posts created by
someone else. Saves you coming up
with EVERYTHING. If you like other
Pages as your Business page, you can
share other people’s content. Save
even more time by only liking other
Business pages that are useful to you.
This way, when you look through
your Business Page “Feed”, you are
reading posts that relate to your
business/your customers and
minimising the risk of being
distracted. Save that stuff for your
personal account.
Other activities: channel all of this
time saved into keeping your website
up to date, writing blog articles,
listing your business with on online
directories and utilising other services
like LinkedIn. Working ON your
business is more than just adding a
few good Facebook posts.
“..add your weeks’
worth of posts and let it
go. Your Facebook
Business Page will be
on autopilot...”
Make it a pleasure doing business online -
not a pain.
For further information, please feel
free to email Karen ~ The Webgirl.
a pleasurable outcome ~ avoid distractions
Karen Ahl Bac. Bus (Mark, Man), TAE40110, Cert IV IT
Caboolture, Queensland Ph 0415 142 178
www.web-sta.com.au [email protected]
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 10
Jo-Anne Chaplin
Tax & Superannuation Professionals Pty Ltd
PH 07 3410 8116 / Mobile 0457 960 566
Email : [email protected]
Web: www.taxandsuperprofessionals.com.au
I am a qualified Accountant and I have celebrated my 20th anniversary as a
Registered Tax Agent this year. During my time in Public Practice I have
assisted clients to achieve business growth and prosperity. My earlier career
included positions in banking, manufacturing, construction and retail. My
particular interest is in promoting a culture of using local industries and
business in order to build a strong community.
The words of John Lennon's
beautiful song "So this is Christmas”
haunt me each year….
“So this is Christmas, and what have
you done, another year over, a new
one just begun", is a timely reminder
that a whole year has passed, and it’s
time to review and track our progress.
Each year it prompts me to remember
the good, bad, the beauty and the ugly
of my business over the past 12
months.
How did you do this year? Did you
achieve any notable goals?
Time passes so quickly, and if you are
like most small business owners,
you've spent the last 12 months trying
to keep up with everyday tasks and
problems with no thought of where
you're headed or what is going to
happen when you get there.
The start of the New Year is the best
time to stand back look at your
business from all angles. Being the
middle of our financial year, there is
still time to make tax planning and
investment decisions, rejig budgets
and generally make a plan for the rest
of the year.
Actively manage your business by
looking at it from the “outside”, so
that you get the big picture. There are
many facets to consider, financial &
budgets, productivity, supplier and
business inputs, human resources,
sales projections, marketing just to
name a few.
If your business is seasonal,
schedule more meetings in the quiet
times, and only a few in the busy
times.
A business that has a steady cycle of
activity is best served by evenly
spaced meetings.
By measuring your performance in
the different areas of your business
you will be able to identify those
areas which are not performing, or
have some negative effect on the
overall business.
Once these problems are addressed,
the business can then move on to the
next stage of development.
Changes in strategy don't need to be
mind-blowing. Subtle changes can
make a huge difference.
For example, making workplace
changes for employees can
significantly change their attitudes,
which in turn will make for a
positive projection of your business.
Don't let John Lennon catch you out
at Christmas 2015! Make sure you
have a strategy and action plan so
that next year you can list what
you've achieved with pride &
confidence.
If you would like assistance in
developing your action plan, then
please don't hesitate to contact us.
Have a Very Merry
Christmas
You won't be able to address all of these
areas on one sitting, so make a plan and
divide them into sections that can be
addressed one at a time. List in order of
urgency & put a due date for review on
each, and then log into the diary.
You will need to be careful when
organising review dates that you don't
choose dates which are already claimed
for other reasons / events. Don’t give
yourself any excuses to get out of this!
The best way to achieve solid growth for
your business is have these reviews on a
regular basis, and enlist the assistance of
a trusted colleague, friend or business
coach to be your sounding board.
You will find that you will feel more on
control of your business, and soon see
positive results in performance.
The number and schedule of the
business meetings will be determined by
the business you have.
“So, This is Christmas”
Now is the time of year that you should be
looking at your business from the “outside”
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 11
John Bellamy
Co-Founder
Phone: +61 404 473 755
Email: [email protected]
John Bellamy is recognised as one of
the foremost LinkedIn experts in
Australia, having spoken to thousands of business owners,
helping them to turn their LinkedIn profile into a virtual
ATM where they can withdraw cash at will.
In the new age of the digital
economy, it is no surprise that more
and more people are ditching the
typical constraints of the 9-5 job and
opting in towards building lifestyle
business.
One that supports you, your family,
and the freedom you have always
wanted to create.
Unfortunately for most, they become
stuck in the rat race, going full circle
and no further along to creating that
ideal lifestyle they most desire.
WHY?
Well, for most part I believe that
people get caught up in all the fluff
and excitement of building a
business and ultimately end up
stagnate and confused as to what
actually needs to happen next in
order to turn the dream into a reality.
Take Social Media for instance, and
specifically LinkedIn. I would have
it a guess that the majority of users
on LinkedIn really have no idea as
to why they are on the platform and
how to best use it.
It's not your fault though, as in
reality, you have never been shown
how to best work the platform for
your specific requirements.
Whether that be to get a job, to gain
speaking engagements, to generate
leads etc.
Most people I speak with (and that's
2. Communicate: Respond to any
connection request, emails,
comments on your posts:
When responding to connection
requests you want get curious, and
go on a discovery mission to
uncover information about your new
connection - problems, challenges,
opportunities.
Remember we're all people - not
brands... So connect with the
individual.
3. Engage: Taking the
conversation off LinkedIn
The objective here is to be
accessible, and encourage the right
connections to have an actual
conversation with you.
Actually help them out and give
them value.
This may be done via the phone, in
person, over Skype - what ever your
preference, and take it from there.
That's it! Nothing else to do.
Alright, so let's get back into reality
for a moment.
As I'm sure you all know the key to
success in anything in life is daily
consistent actions, and LinkedIn is
no different.
So whatever it is you are looking to
achieve from LinkedIn: a job,
speaking engagements, or more
leads - just remember Connect,
Communicate, and Engage.
hundreds a month) are really lost
when it comes to this very, very
powerful platform.
So how do you then utilise LinkedIn
to support the lifestyle you want to
create?
Well, here's the thing... When building
your lifestyle business, LinkedIn for
the most part is only utilised to
connect, communicate and engage
with your audience and you really
only need to be on LinkedIn for
around 27-minutes a day. Any more
and you could possibly be wasting
your time.
So what should your time be spent
doing then?
Here's the top three top level actions I
recommend taking on a daily basis:
1. Connect: Send 10 highly targeted
connection request each day:
The purpose here is to search and
connect with highly targeted people
on LinkedIn. NOTE: Make sure to
send personalised connection requests
opposed to just a generic one.
Your LinkedIn Lifestyle
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 12
We are all familiar with credit
through home loans, credit cards,
store cards, personal loans,
equipment leasing etc but why might
we have credit declined?
Serviceability
Serviceability is a fancy word for
your ability to make payments on a
loan. Your total income less your
expenditure is taken into account
including commitments such as
living expenses, and other loan
commitments. If you do not have
enough funds in your budget then
you will be declined for as loan.
LVR
Is short for Loan to Value Ratio
which is the proportion or percentage
you borrow. So, if you have a 20%
deposit for a home loan, you will
borrow 80% and the LVR will be
80%.
Different lenders have different
LVR’s based on the asset, its location
and their lending policy. For example
you might be able to get a 90 or a
95% lend on a property (if you pay
mortgage insurance) but you will not
get a 90 or 95% lend on the same
property if you buy it in your Self
Managed Super Fund.
Type of Asset
Most lenders will lend to buy a home
in most towns but most will not lend
to buy a large rural property more
than 100km from town. Both are real
estate assets but most lenders will not
lend on the latter. It’s similar with
commercial or industrial property.
You must speak to a specialist lender
to secure this type of finance
Valuation
Naturally, lenders will do their
independent research on the value of a
property before they lend. In fact, they
have their own panel of valuers that
they trust and will not accept a
valuation done outside this. Lenders
also ‘instruct’ valuers as to the way
they want a value to be assessed.
For example, a lender might instruct to
value based on rental returns for an
investment property, they might ask
for it to be based on comparable sales
of similar properties recently sold in
the area or they might instruct to
achieve a price to guarantee its sale in
a short period of time – commonly
called a ‘fire sale’ price.
Valuers
Licenced Property valuers are required
if necessary, to defend their valuation
in court. This actually occurred after
the GFC when property values fell
dramatically. Many valuers were
grilled by barristers about how they
could be so wrong. As a result of this,
valuers tend to construct a ‘relatively
conservative’ value for a property.
Value v LVR
If a lender will lend up to 80% of the
value of a property but the property
valuer values at significantly less than
the purchase price, the bank will only
Paul GILLMORE DFS
Founder and Director
Southern Cross Financial Services
07 5429 5561
0402 685 032
lend up to 80% of the valuation. For
example, if you want to buy a
property for $400,000 borrowing
80% ($320,000) but the valuer says
$360,000, the bank will only lend to
80% or $288,000 regardless of
whether you can afford to make
payments on $320,000.
If you still want to buy the property,
you will have to put the balance of
an extra $32,000. In other words,
instead of you original deposit of
$80,000, you will need a deposit of
$112,000, otherwise you will not be
able to purchase the property.
Credit History
Many of you will know that I
already work hard to protect your
credit history file because I know
that ALL applications for credit will
result in an entry on your credit file
irrespective of whether you take the
credit or not. Further, with the
recent changes from negative to
positive credit reporting, a default or
a missed payment will now be
listed. Lenders ALWAYS consult
your credit file and a bad entry
could result in a decline.
For more information from an
experienced specialist, please
contact
Paul Gillmore DFS
Founder and Director Southern
Cross Financial Services
07 5429 5561
Why Credit is Declined
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 13
Peter Nicol Wisdom Marketing & Management
Services 0417627097
www.wisdommarketing.com.au [email protected]
Setting a Calendar of events
Avoids costly surprises
No matter the business, no matter the
industry, you have to plan a calendar of
events and, other key happenings in
your business.
I recommend to all my customers that
they get a Sasco Year Planner from any
of the large stationery suppliers. They
cost very little and allow you (with
some types) to re-use them over and
over.
You then set about filling in the public
holidays, trading days in each month,
who will be on leave and then see what
you need to do to make best use of the
times you are trading and, get optimum
advantage of the days you can trade
and, special events.
Easter is a movable feast and, can be in
March or April. A few years ago
Goondiwindi had a real problem. It had
a show holiday and ANZAC Day on
top of that Easter. It meant that close to
10 days of trading were gone.
Many employees took a few extra days
and they ended up with almost 2 weeks
leave with little decay of the holiday
entitlement. Not sure but, I think it was
a quiet month that April.
Would the planner have worked? Well,
maybe if you knew in advance and
planned for poor sales in April then
maybe those who did plan might have
a better plan for May or indeed the
March. Planning a year in advance for
promotions is key to any marketing for
any business large or small.
Many events in a year can be of great
benefit to any business. Easter sales,
the beginning of the seasons Spring,
Summer, Autumn or Winter for
example are opportunities to leverage
off.
Even promoting opening hours during
these times can be a great marketing
tool. In the latter case however be
wary of the costs of labour as many
small business owners will simply not
open as, the labour costs are too high.
Those decisions can only be made
after carefully plotting out the
potential of the event. Filling in the
basics and then setting a plan can give
you the edge on the competition and
also get you ready with stock and other
things you need to make it the success
it can be.
Those with social media platforms can
be ready to push the buttons well in
advance and have promotions and
“deals” ready well before the event.
So you become strategic rather than
reactive.
A Sunday afternoon at home looking
at a year planner with a few family or
staff members (that might
have to be a work day) can
help you quickly get a good
idea on what you think you
can and indeed cannot do.
Maybe staff are not there,
maybe you have no emotional
connection with the timing.
Mechanics can tell folk to get
their cars ready for Easter,
Bakeries can say to order Hot
Cross Buns and talk about opening
hours or ordering Christmas
Cakes, Butchers can ask for early
Ham orders and, so it goes. This is
not rocket science but simply
common sense.
Failing to plan is planning to fail.
Get the 2015 year scoped out asap
and, then start the planning
process as to what you are going to
do. It might need brochures or
emails or mainstream media
planning but, do it.
One last thing, do not leave the
chart for all to see. I once saw it
left out for a competitor to see and
sure enough they beat them to it.
Plans need to have some people
involved.
Make sure they know it is in
confidence.
Happy Christmas and New
Year.
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 14
Denis Keating
Everest Resources
Brisbane, QLD
HR and WHS Protection for Your Business
Mobile: 0419 029 606
Fax: 07 3112 4072
Email: [email protected]
Web: www.everestresources.com.au
Skype: denis.keating1
Christmas time is the season of the
office parties and work functions to
celebrate the end of another
hopefully successful year of
business, and a chance to “let your
hair down” and enjoy some food
and drink with the staff.
However it is also the time when
we see a spike in the number of
incidents of bad behaviour in the
workplace including physical
injuries, bullying and sexual
harassment, which can lead to time
-consuming and expensive
processes of resolution, thus
ruining your start to the New Year.
In most cases, these can be easily
prevented by reminding staff of
their obligations and your
expectations, which should already
be spelled out in your Code of
Conduct and various policies.
This helps to promote your
business as a responsible employer
and a safe and healthy workplace.
The Christmas lunch or drinks
organised by the employer is
considered to be part of employment
even if it is held off-site.
It is an opportunity to demonstrate
that you care about your employees,
by ensuring that there are processes
in place to ensure their safety at the
end of year function, and especially
on their way home. This reduces your
liability as an employer too.
Most of the problems that occur
during and after Christmas functions
result from the consumption of
alcohol, so you need to think
carefully about moderation. Here are
a few tips to keep in mind to ensure
the safety of your valued employees
and reduce the risks to them and
yourself as an employer and business
operator:
Before the event, remind your
employees of the Code of
Conduct, that it applies during
and after the function, and that
you expect them to behave
accordingly.
Provide drink options including
plenty of water, non-alcoholic
and low-alcohol beverages, and
consider restricting alcohol
options to beer and wine (no
spirits). As a fun option, try
serving mock-tails at the
beginning of the event.
Ensure that food is provided
before and during the function,
and if appropriate that there is
entertainment supplied – other
activities provide distractions
which tend to reduce the
alcohol consumption. Pause the
service of drinks during any
formalities / speeches.
Have someone from
management appointed to
refrain from drinking and be
available to monitor behaviour
and prevent excessive drinking
by employees.
Think ahead with regard to
transport options so that public
transport / taxis / designated
drivers are planned and
organised before the function
begins. Have a strategy in
place to prevent intoxicated
people from driving, and
ensuring that they have a safe
means of getting home.
Celebrate - But
In Moderation
Denis Keating is an experienced
business owner and manager,
now specialising in HR and WHS
for SME’s.
He offers a variety of products
and services including HR and
WHS documentation (contracts
and agreements, policies and
procedures, SWMS), online WHS
and HR systems, performance
management and coaching, and
other HR processes and advice.
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 15
Dennis Chiron Marketing Means Business
0451 184 599 [email protected]
www.marketingmeansbusiness.com Skype: dennis.chiron2
False or misleading claims by
big retailers, including
supermarket giants Coles and
Woolworths, have always been
the main source of complaints
from consumers and the small
business sector.
But, it’s not just the giants who
do it (and appear to get away
with it).
Let me give you an example of
what I mean, and what
continues to peeve me:
I need to fly from Brisbane to
Sydney to meet up with a
client, and will need to hire a
car while I’m there, and also
stay overnight.
I do all of the bookings online,
and pay the respective fees or
give them my credit card
details (and that’s another
thing I hate doing.)
Land in Sydney, and it takes
the usual 10-15 minutes to get
off the damn ‘plane, and then
wait at the carousel for my
luggage for another 10-15
minutes. Then go to Avis, or
Budget, or Hertz to pick up my
car. Patiently (not) wait in line
until it’s my turn and then the
“fun” starts.
“Do you want insurance?” I
am hastily asked. “It doesn’t
matter who caused the accident, if you
don’t take out the insurance, you could
be up for at least $2,000.”
Of course I want / need insurance …
“Okay, $47.00 thanks” … and, “Oh,
by the way, if you don’t fill the tank up
again before you bring the car back, we
will have to charge you $3.50 a litre to
do it ourselves”
I then fire up and tell them that this
information is nowhere to be found on
their website, nor is it anywhere to be
found in the car hire contract I just
signed (in triplicate).
That’s when I get the “dumb” look and
glazed eyes from them.
But Wait … There’s more … Then I
arrive at the motel I have booked online
a few days earlier; and after checking in
and signing relevant paperwork, I am
then asked if I have a car.
Naturally my response is “Yes”. “Then,
if you would like to park your car in the
motel parking, that’s $20 per day. Is
that okay”? … is the reply from the
innocent - looking receptionist.
So, I fire up again. Why aren’t people
advised of this when they book? Why
isn’t it on their website?
Is this False or Misleading advertising?
Some people would say that it’s not.
However, in my view, it’s certainly
deceptive advertising, and you’re not
made aware of these necessary,
extra charges and fees until you’re
committed.
The Australian Competition and
Consumer Commission (ACCC)
states: “Prices displayed by a
business must be clear, accurate
and not misleading to consumers.
You should always display the
total price of a product or
service.” …. It goes on to say:
“However, You do not need to
include optional charges or
extras”
So, that’s how the businesses -
Airline; Car Hire; Motel / Resort
- appear to be able to get away
with it.
So, in my view, this sort of
advertising is unethical, but
apparently it is quite lawful
according to the ACCC.
Deceptive advertising is false
advertising, and it is illegal, but it
seems that unethical advertising is
neither deceptive nor illegal;
however, they offend moral
principles of human acceptance in
terms of bad intent and effects.
Ultimately, I’d like to believe that
ethical advertising is regulated by
societal norms of acceptable
advertising communications and
the moral and ethics of
advertisers.
Ethics in Business -
False or Misleading Advertising
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 16
Get Something to Work
Reasonably Well
Think about this for a New Year’s
Marketing Challenge: It’s better to
get one specific tactic working
reasonably well than to run off
chasing the next “fashionable”
thing.
I’m guilty, as I know most small
business are, of chasing the next
new “gimmick” or “fad”. The truth
is that most well-thought out
marketing strategies will pay off,
given your complete attention and a
bit of time to take hold.
My advice, as you begin making
plans for 2015 is to find one or two
good strategies and tactics, at the
most, and commit to them. If you
find something that shows promise,
then focus on making it even more
powerful.
Don’t fall prey to every business
coach, marketing guru, new
gimmick or revolutionary new web
application or app that promises to
make your life better by purchasing
and applying this new marketing
tactic.
Create one strategy, finish it, test it,
improve it and use it without regret.
Spice Up Your Signage
Boring signs and banners will often
get boring results. You might
consider revamping or spicing up
your sign for better results and gain
more interest in you and your
products / services.
Get a sign that lets you put a
changing message on it. We often
see church signs with a daily
inspirational message. Why not
consider having a changing message
encourage purchasing. Event
marketing creates excitement
around your store and your products
by creating something out of the
ordinary that entices people to your
location.
More than simply building store
traffic, events actively encourage
people to reach into their pockets
and make a purchase.
Work With Your Suppliers
If you hold n event, you may not
have to go it alone. Talk with your
main suppliers about co-sponsoring
an event.
This can take many forms - a
clothing store can have a special
designer sale; a photography store
can have a special “clean your
camera” day with service reps from
a particular camera manufacturer.
In some cases, co-sponsoring will
also include increased co-op
advertising funds or other supplier
incentives.
Speak with your suppliers to find
out if and how you can qualify for
these programs.
I have a client at Mount Gravatt,
and was working with them
recently, and they agreed to hold a
special event with two of their
suppliers and also an interior
decorator.
The lighting store increased its daily
sales (on that particular day) by
630%, and has since increased its
customer base by 17% and weekly
sales have risen by 24% and are still
climbing.
Try it for yourself - it works !!
on your signage?
Promote a sale; tell a joke; or make a
comment . People who pass it each
day will start to notice.
Network For Your Customers
It sometimes happens that you simply
can’t provide the product or service
that your customer is needing.
You can earn a lot of trust (and future
sales) when you tell your customer; “I
can’t do it for you. However, I suggest
that you contact this business (name).
Or, would you like me to ring them for
you, just to make sure they have it in
stock?”
Think about networking to find other
businesses who can provide additional
products and services to your
customers.
It’s called the “Referral or Buddy
System”
What services or products don’t
you provide that your client may
benefit from or enjoy?
Can you find a business in your
area that offers that service?
Are they a member of your
business network club?
Can you ‘Buddy’ with this
business?
Why don’t you speak to the other
business owners about placing your
cards in their business? And you can
do the same for that business.
Special Event Marketing
for Retailers
From cooking classes to book
signings, from do-it-yourself lessons
to fashion shows, special event
marketing is an effective way to drive
customers into your store and
Dennis Chiron Marketing Means Business
0451 184 599 www.marketingmeansbusiness.com
[email protected] Skype: dennis.chiron2
Let’s Talk Business
Volume 2 Issue 25 December 2014 Page 17
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