the extras - soundcartel...example, do lots of marketing without spending much money. you can do...

THEEXTRAS

Yes, you can prosper and not just survive in tough times. At Business Essentials we’ve been through recessions and we’ve helped to guide our subscribers through them -- for which they’ve given us heaps of praise. On this month’s CD we’ve gathered some important information to ensure we help you through the current situation. For example, do lots of marketing without spending much money. You can do that by following up leads, converting them to sales and lifting your revenue on all sales. Analyse your own strengths and build on them. Take advantage of the market place in your area where others might be over cautious and fearful – “steal” their customers.

The pie might be smaller right now so you need to concentrate on gaining a bigger piece.Then, when the tough times are over, which one day they will be, you will have gained more customers than you can keep.

To give us an overview of the economic road ahead we hear from our regular economist Professor Neville Norman who has been right about interest rate cuts when all others have been wrong. Not only does he tell us more about interest rates but he has a seven-point plan on handling tough times.

In this Extras booklet you’ll find some very good offers -- $200 off a Stock Doctor subscription, $200 off using Final 5 to find a new employee and $100 off a Business Connect workshop with US author Robert Bloom. You’ll find details on the various pages in this booklet.

We will continue to help you through this economic crisis. Enjoy this month’s program and this Extras booklet.

Michael SchildbergerExecutive Chairman

Introduction

EXECUTIVE CHAIRMAN: Michael Schildberger

MANAGING DIRECTOR: Nick Schildberger

ADVERTISING/SPONSORSHIP: [email protected]

PRODUCTION MANAGER: Heather Dawson

CHIEF EDITOR: John Hounslow PRODUCER: Bob Kearsley

STUDIO MANAGER: Peter Letts

PUBLISHER: Business Essentials Pty Ltd ABN: 98 006 144 449

405 Riversdale Road, Hawthorn East Vic 3123

Phone: (03) 9882 8333 Fax: (03) 9882 8017 Web: www.be.com.au

© COPYRIGHT 2008. No reproduction of contents without written permission of the publisher.Business Essentials and the BE logo are registered trademarks of Business Essentials Pty Ltd ® ABN: 98 006 144 449Neither Business Essentials Pty Ltd nor Michael Schildberger, nor sponsors, nor advertisers of this magazine or CD accept any form of liability, be it contractual, tortious or otherwise, for the content of this magazine or CD or for any consequences arising from its use or any reliance placed upon it. The information, opinions and advice contained in this magazine and CD are of general nature only and may not relate to or be relevant to your particular circumstances. You should always take independent advice relating to your particular circumstances prior to making any decisions.

Track 2

THE ECONOMYProfessor Neville Norman, Melbourne University

• Whenthehistoryof2008iswrittenitwillshow:➢ First full year of a new Government handling biggest financial crisis for decades➢ World-wide credit crisis, percolating into fearful confidence effects➢ Severe jack-knife interest rate behaviour – up and strongly down➢ Budget surplus forecasts plundered• Itwillnotshow“recession”eventhoughwehavemuchdatayettocollectonthis• Makeajudgmentonhowbadthiswillbe–notgenerally,butforyoursector• Seekpositiveopportunitiesfromfailingfirms• Sharemuchmorewithyourbankers/financiers

QuizQuestion:Whenwasthelast“recession”?Answer:thelasttwo-quartersofnegativerealGDPgrowthinAustraliaweretheMarchandJunequartersof1991–butonlyaslenderdeclinewasobserved

Track 3

USE YOUR “INSIDE ADVANTAGE”Robert Bloom, US Author

• Growingyourbusinessisimperativeandurgentinaglobalrecessionaryeconomy• Growthfromwithinisthefastest,surestandleastexpensivemethodavailable• Whatabusinessdoesbest,thatsinglesitout,isitsInsideAdvantage• Fosteryourexistingcustomerbase–sothey’reawareofyourInsideAdvantage• Exploititinallyouradvertising,marketingandbrandpromotion• BringyourmanagementteamtogethertoidentifytheInsideAdvantageandhowtouseit – their enthusiastic support is essential

Track 4

GET OUT AND SELLTony Gattari, Achievers Group

• Yourattitudewilldeterminewhatyoudo• Alousyattitudegivesyounoactivity.Agreatattitudegivesyouresults• Ifacompetitorhasa“victim”mentalityyoucanpickuptheirmarketshare• HarveyNorman,evennow,isspendingbigonadvertising.Itworks• Youdon’tneedtospendallyourownmoney.Formamarketingpartnershipwithasupplier because you both benefit• Learntoturnyourprospectsintocustomers

03

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Track 5

RECESSION PROOFINGMitchell Taylor, Taylors Wines

• Makesureyou’renotholdingexcessstockasmarketconditionstighten• Reviewyoursupplycontractstolockinthebestavailableterms• Takeadvantageoffallinginterestratesifyouneedfinancetotideyouover• Lookoutformergeroracquisitionopportunitiesamongcompetitorswhomaybe succumbing to the tough conditions• Thefallingdollarwillhelpexportscompete,butrecessioninoverseasmarketswillcutdemand, particularly at the top end of the price range• Passionfortheproductandtheabilitytoinnovatequicklyarestrengthsofthefamily-runbusiness• Goodmarketingandcostcontrolswillbecrucialwhenbusinessconditionsimprove

Track 6

SHARING OWNERSHIP OF YOUR BUSINESSPatrick Holt, DC Strategy

• Lookatyourentitystructure.Doesyourcorporatedocumentationallowforminimalor maximum effort?• Whydoyouwanttochangethestructure?• Ifyoubringinemployeesasshareholderstheyhaverightslikevoting• Thealternativetoemployeeequityistoofferprofitsharingsuchasbonuses• Ifyougiveemployeessharesthey’renotnearlyascommitted• Youneedshareholdersagreementsincaseequityholdersleave• Rememberthatyou’recreatinganewcorporateentitywithnewlegalobligations

Track 7

WATCH YOUR CHEQUES!Wayne Gladman, Fraud Risk Solutions

• Alotoffraudiscommittedthroughtheissuingoforreconciliationofcheques• Yourvulnerabilityisoftenfromwithin,fromyourownstaff• Don’tallowonepersontoberesponsibleforallaspectsofchequehandling• Bewarehowyouwritecheques-makeithardtoalterfigures• Createapurchaseorderwhenissuingchequesandgiveeveryinvoiceapurchaseorderreference• Makepaymentsonanoriginalinvoiceandendorseeachinvoicewhenpaid• Chequesshouldbesentoutbysomeoneotherthanthepersonwhopreparedthem• Everyjoborcostcentreshouldhaveabudgetwhichcanbemeasured

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Track8

MAKE SURE YOU INSUREVernon Sawers, ISR Accounting

• Allbusinessesshouldhaveproperty,stockandcontentsinsurance,liabilityinsurance and business interruption insurance• Businessinterruptioninsurancewillhelpyousurviveadisaster• Consideryourindemnityperiodandthegrossprofitsumlookingahead• Talktoyourbrokeraboutincreasedcostofworking• Ensureyouhavecoverforclaimpreparationcosts• Formanybusinesses,renewaltimeisnow• Bewaretakingonthebiginsurersyourself–seekthehelpofaprofessional

Track9

SHAREMARKET UPDATETim Lincoln, Lincoln Stock Doctor

• Ihavenopredictionsabouttheshorttermbutit’sstillalifetimeopportunity• It’sagoodtimetogetourportfoliosintotopshapeandpossiblydripfeedintothemarket without over-committing• Ourcurrentstrategyis80%tothebiggerstocks• Manysmallerstocksarestrugglingandwe’veremovedsomefromourStarStocklist• Whenacompanyhasaprofitdowngradeit’stimetothinkaboutselling• Stocksofthemonth:CSL,Woolworths,Cochlear,BHP,Westpac,St.George,Fleetwood, RejectShop,JBHi-Fi,SMS


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Track 10

TAX: SHARE LOSSES / TAX DEDUCTIONS FOR INTEREST PAYMENTSMichael Jones, Cummings Flavel McCormack

Lossesfromshares:• Taxlossesonlyexistoncetheshareissold• Capitallossescanonlybeoffsetagainstcapitalgains• Revenuelossesareincurredifyou’reconductingasharetradingbusinessTaxdeductionsforinterestpayments:• Theuseofthefundsdeterminestaxtreatment• Incomeproducingusewillgetataxdeductionforinterest• Problemscanarisewhenasingleloanisusedformixedpurposes• It’sbettertohaveseparateloans,oneforincomeproducingpurposesandoneforprivatepurposes

Track 11

MAKING JOB ADS WORK FOR YOUJason Snell, Final5

• Askyourself“whywouldsomebodyworkforme?”• Tailortheadvertisementtoaprospectivecandidate• 10yearsagoeverybodyadvertisedinnewspapers.Nowtherearesomanyonlinealternatives• Doesyourwebsitehaveanemploymentsection?• Whatisyourtargetmarket?Thisdetermineswhereyoushouldadvertise• Youcanincludemuchmoretextonlinethaninanewspaper• Innewspapers,considerwhatstandsoutmorelikeacolourborder• Online,refreshyourad.frequentlysoitstaysnearthetop

FOR M

ORE INFO

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FOR MOREi NFORMATION

MAKE SURE YOU INSUREVernon Sawers, ISR AccountingT:1300883963www.israccounting.com.au

SHAREMARKETUPDATETimLincoln,LincolnStockDoctorT:1300676332or0398549444PleasecontactLincolndirectfor details about itsStock Doctor fundamental analysis software or Managed Fund serviceswww.lincolnindicators.com.au

TAX:SHARELOSSESTAX DEDUCTIONS FOR INTEREST PAYMENTS Michael Jones, Cummings Flavel McCormackT:[email protected]

MAKING JOB ADS WORK FOR YOUJason Snell, Final5T:0385266555www.final5.com.au

about the topics discussed on this December 2008 program, please contact the relevant

organisations as listed below.

THEECONOMYProfessor Neville Norman, Melbourne [email protected]

USE YOUR “INSIDE ADVANTAGE”Robert Bloom, US [email protected]

GETOUTANDSELLTony Gattari, Achievers GroupT:0294407373www.achieversgroup.com.au

RECESSION PROOFINGMitchell Taylor, Taylors WinesT:0285853555www.taylorswines.com.au

SHARINGOWNERSHIPOFYOURBUSINESSPatrickHolt,DCStrategyT:[email protected]

WATCHYOURCHEQUESWayne Gladman, Fraud Risk SolutionsT:0394971422www.fraudrisk.com.au

final5 will cut the time and cost of

your recruitment for only $1900+gst

for BE subscribers

Call 1300 FINAL5

looking for staff?

final5.com.au

Staff Shortlisting

What’s on at AIMAIM VICShort Course: Think on Your Feet® Getting your ideas across to others is critical to success in most roles. Sometimes we do this in a formal presentation but the great majority of the time we communicate informally, without preparation or aids: over the phone; via email; in meetings or after formal presentations. This course teaches the ‘capsules of persuasion’ concept - ways to structure your ideas on the spot.

Date: Wednesday 10th December

Venue: AIM Victoria

Cost: AIM Member $1035.00 Non-Member $1150.00

See aimvic.com.au for more details.

AIM NSWShort Course: Business Writing Skills The ability to write clearly and effectively is a critical professional skill. This two-day program will assist participants to plan, organise and structure their writing to achieve better results with written communications.

Date: Thursday 4th December

Venue: AIM North Sydney


See aimnsw.com.au for more details.

AIM SAShort course: Assertiveness Skills

This course provides participants with guidelines for standing up for themselves without violating the rights of other people. You will develop confidence and understand the impact of the assertive style in defusing problem situations.

Date: Monday 8th December

Venue: AIM South Australia


See aimsa.com.au for more details.

AIM WAShort course: Conflict Resolution

Conflict is present in all organisations. In any situation where people interact, there is the potential for disagreement, challenge and struggle. This program offers a variety of practical learning opportunities for participants to develop skills in identifying conflict and resolving it effectively.

Date: Monday 1st December

Venue: AIM Western Australia

Cost: From $730.00See aimwa.com.au for more details.

Cummings Flavel McCormack are accountants who provide specialist business advice to business owners.

By becoming your business partner, we assist you, the business owner, to ‘see further’.

You will receive advice that increases profits, and helps achieve your financial and personal goals.

Services include: Business advice using a sophisticated range of services

Expert, commercial taxation advice

Audit services

Tax return and BAS preparation

Preparation of financial statements

Strategies to increase profits

For more information contact Neil Flavel on: 03 9252 0800 or email: [email protected]

Accountants Who Help You See Further

see further

CFMC KEY TAX DATES FOR DECEMBER 2008 AND JANUARY 2009

01 Dec Income tax: final date for payment for companies and superannuation funds that were medium/large taxpayers in the previous year.

21 Dec November 2008 monthly activity statements: final date for lodgment and payment.

15 Jan Income tax: final date for lodgment for companies, superannuation funds and trusts that were large/medium taxpayers in the prior year and are not required to lodge earlier.

21 Jan Dec 2008 monthly activity statements: final date for lodgment and payment.

Quarter 2 (Oct-Dec 08) activity statement containing a monthly GST obligation: final date for lodgment and payment.

28 Jan Quarter 2 (Oct-Dec 08) superannuation guarantee contribution: last day for payment to a superfund provider.

Send in a tax problem – be in the running to win a bottle of wine!If you email me your tax problem I will send you an answer. If the problem is of general interest I will discuss it on the Business Essentials program (in an anonymous way). Whoever submits the tax problem that I judge to be the most interesting for the Business Essentials audience will win an excellent bottle of wine from Dominique Portet’s Yarra Valley winery.

Michael Jones, [email protected] DetailsLevel 15, 390 St Kilda RoadMelbourne VIC 3004T: 61 3 9252 0800 F: 61 3 9252 0801E: [email protected] E: [email protected]

www.cfmc.com.au

Top minds in business show you how to drive top line growth in tough times

24 – 25 February 2009, AJC Convention Centre, Sydney

GROWTHSUMMIT

Special $100 discount for Business Essentials Subscribers

International Speakers

include:

Verne HarnishThe “Growth Guy” –Drive Top Line Growth & Dominate Your Industry

Dr Victoria Husted MedvecHigh Stakes Negotiations: Strategies for Maximising Outcomes

Robert H BloomThe Inside Advantage: The Strategy that Unlocks the Hidden Growth in Your Business

PLUS presentations from leading industry experts and successful Australian entrepreneurs

Growth Summit (2 days): $1195

Inside Advantage Workshop: $795

Growth Summit + Workshop: $1690

Register before 19 December for early bird prices. Promo code BE

For a full brochure call 1 300 721 778 or www.businessconnect.com.au

The Inside Advantage Workshop

by Robert H Bloom

Thursday 26 February 2009

Realise your business’ potential today withAchievers Group

Find out how Tony Gattari

and the Achievers Group can

advise, strategise, train and

mentor you and your team.

Education > Inspiration > Motivation > Activation

As General Manager for

Harvey Norman Computer and

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Gattari oversaw the growth of

the division from $9 million to

$565 million in 9 years. He has

been the Managing Director of

a publicly listed company and

CEO of a successful technology

company.

Today Tony is a powerful

business speaker and author who

educates thousands of business

owners around the world.

Straightforward, passionate,

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on a grand scale.

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Experience the success that over 110

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We offer:

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Our current and past clients include:

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Call us, we’ll sit down with you

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Phone 02 9440 7373or email: [email protected]

G R O U P

“Let myself and my

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team come alongside you

and build your company

into everything it can be.

I guarantee you won’t be

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Level 1, 284 Bobbin Head Rd, North Turramurra NSW 2074 PO Box 3104 North Turramurra

www.achieversgroup.com.au

Achievers Group ad_2.indd 2-3 18/2/08 2:53:13 PM

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DC Strategy International Head OfficeLevel 5, 530 Collins Street Melbourne VIC 3000 Australia

[email protected] www.dcstrategy.com

building better and more valuable businesses...

If you have an opportunity or a challenge, DC Strategy can help you build a better and more valuable business.

the extras - soundcartel...example, do lots of marketing without spending much money. you can do...

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