B2B magazine issue 107 August 2015

107 AUGUST 2015

B2BMAGAZINE.COM.AU

EXECUTIVE LEVEL INTERVIEWS HOW TO BY HAYS RECRUITMENT

MORE THAN FENCING… JEREMY FOSTER BRANCHES OUT

CONFIDENCE KEY TO BUSINESS GROWTH ROBYN HENDRY CEO CANBERRA BUSINESS CHAMBER

nts e m o m c i g ma

Why are Maloney's prepared to guarantee their work? read more p.16

HOW TO INTERVIEW SELF-PROMOTERS HORIZON ONE RECRUITMENT

IMPROVING THE PROFITS IN YOUR BUSINESS RSM BIRD CAMERON CHARTERED ACCOUNTANTS

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EVERYTHING JUST WORKS!

ISSN 1833-8232

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CONTENTS

PUBLISHER'S NOTE

THE CLASSIC BISHOP SACRIFICE Politics is just like chess and Bronwyn Bishop has been TIM sacrificed for the greater good.

BENSON She spent the public's money on Publisher choppers and limos and paid a price for it, primarily because her decisions were not in the spirit of her entitlements or represented the standards of a parliamentarian let alone the Speaker of the House of Representatives.

But I fear that this is just the tip of the iceberg and dozens let alone hundreds of politicians, past and present, must be crawling over their entitlements and chafing at the bit to repay hundreds and thousands of dollars that could be considered inappropriate use of taxpayers money: if anyone ever found out about them.

I would think that there are millions of dollars of questionable claims that are made each year for meetings with business and unions, political party meetings, conferences, holidays, festivals, dinners, lunches etc - that are justified by having a legit meeting on the side that just happens to be close by.

But why stop with the politicians - lets look at their political staff that have generous entitlements as well, such as overtime, travel, accommodation, Cabcharge expenses etc.

How many of these people are actually staff or are actually apparatchiks for their respective political parties - why do we pay for these hacks on the public purse.

Then there are senior public servants themselves that similarly have their snouts in the trough - and are happy to find fault with underlings that might use a vehicle to pop to the shops, take stationary home or add an extra couple of hours to their overtime.

This rorting of entitlements has been going on for years on all sides of politics and the bureaucracy and I feel there is just too much vested interest for there to be anything serious done about it. Bronwyn Bishop has resigned as Speaker, but I'm sure those politicians that are calling for her head have been extremely carefully vetted to ensure that their head isn't next on the block - or have they?

Let’s see if the Prime Minister Tony Abbott has made the right move and has enough chess skills to stay in the game..

Send all comments to: editorial@b2bmagazine.com.au

16 COVER STORY MAGIC MOMENTS MALONEY'S PROPERTY

CONTENTS

FEATURE

22 ENTERTAINMENT Now's the time to book your Christmas entertainment

by Peter Funnell Entertainment

06 Everything just works!

OPC i.t

22 FAMILY LAW Why a "Pre-nup" (or Post-nup) might be good for your relationship

by Dobinson Davey Clifford Simpson Lawyers

08 More than fencing...

Jeremy Foster Landscaping and Fencing

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10 Whose sperm is it anyway?

Dobinson Davey Clifford Simpson Lawyers 12 Interviewing Self-Promoters – Cut through the spin!

Horizon One Recruitment 14 The "how to's" on improving profits in your business RSM Bird Cameron Chartered Accountants COVER STORY

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16 Maloney's magic moments Maloney's property marketing / management ADVICE FROM THE EXPERTS 19 ACCOUNTING 5 ways your accountant can help you save money

by RSM Bird Cameron Chartered Accountants 19 BANKING An investment in peace of mind

by ANZ Mobile Lending

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20 BOOKKEEPING What bookkeeping will look like in 10 years

by Tailored Accounts

24 SPORT The Gloss Ceiling: Does it exist in your business?

by Yabba.guru 25 WEBSITES Maximising conversions online

by Synapse Worldwide A2B: ASSOCIATIONS TO BUSINESS 26 CANBERRA BUSINESS CHAMBER Confidence key to business growth

28 CHIEF MINISTER'S MESSAGE 2015 -16 ACT Budget for Canberra

21 BUSINESS LAW The risk of using images off of the internet copy and paste, right?

by Bradley Allen Love Lawyers

ISSN 1833-8232

24 RECRUITMENT Senior management and executive level interviews: Outlining your vision

by Hays Recruiting experts worldwide

G2B: GOVERNMENT TO BUSINESS

20 BUSINESS ADVISORY Turnaround – the art of business reorganisation

by Vincents Chartered Accountants

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23 INTELLECTUAL PROPERTY Licensing of IP technology

by Arete Group

BUSINESS NETWORKING 30 B2B @ CBC Business after Business at Australian Bureau of Statistics 32 B2B @ Hot Shots Photography & Servecorp Business after Business at Servecorp

21 CORPORATE GOVERNANCE Good governance – better performance?

by Australian Institute of Company Directos

EDITOR / PUBLISHER

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LEGAL NOTICE Man Bites Dog Public Relations (‘MBD’) owns the copyright in this publication. Except for any fair dealing as permitted by the Copyright Act 1968 (Cwth), no part of this publication may be reproduced without the prior written permission of MBD. MBD has been careful in preparing this publication, however: it is not able to, and does not warrant that the publication is free from errors and omissions; and it is not able to verify, and has not verified the accuracy of the information and opinions contained or expressed in, or which may be conveyed to readers by any advertisement or other publication content. MBD advises that it accepts all contributed material and advertisements contained in this publication in good faith, and relies on various warranties and permissions provided to it by the persons who contribute material and/or place advertisements. Those warranties and permissions include that neither the material and/or advertisements are misleading, deceptive or defamatory, and that their use, adaptation or publication does not infringe the rights of any third party, or any relevant laws. Further, MBD notifies readers that it does not, nor should it be understood to endorse, adopt, approve or otherwise associate MBD with any representations made in contributions and/or advertisements contained in the publication. MBD makes no representation or warranty as to the qualifications of any contributor or advertiser or persons associated with them, and advises readers that they must rely solely on their own enquiries in relation to such qualifications, and be satisfied from those enquiries that persons with whom they deal as a result of reading any material or advertisement have the necessary licences and professional qualifications relating to the goods and services offered. To the maximum extent permitted by law, MBD excludes all liabilities in contract, tort (including negligence) and/or statute for loss, damage, costs and expenses of any kind to any person arising directly or indirectly from any material or advertisement contained in this publication, whether arising from an error, omission, misrepresentation or any other cause.

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F E AT U R E

Everything just works!

Photo: Brett Norton, Managing Director OPC IT, Julie Lenarduzzi, Group Operations Manager BCA and Stephanie Slater, OPC Account Manager.

T

he building approval and certification process can be both confusing and frustrating. It’s a complex field of stringent rules and regulations that requires expert and professional advice to ensure a project is fully compliant and avoids costly delays.

BCA Certifier’s are a Canberra based team of industry experts who go ‘above and beyond’ in assisting clients to obtain building approvals. With over 17 years of industry experience, BCA’s building certifiers and surveyors remain up-to-date with the latest changes to regulations in the building approval process to help fast track all types of construction projects.

BCA Certifiers specialise in the assessment and certification of detailed and complicated commercial projects as well as small residential developments. The organisation’s aim is to provide assistance with projects from conception to construction and in all phases of compliance and assessment of documentation. They aim for a smooth and cooperative process, providing attention to

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every detail and great communication right through to project completion.

BCA Certifiers approach to service delivery very much aligns with OPC’s. It took a major server crash which disrupted business for nearly 3 months for BCA to realise how critical its IT was to business operations, and to go ‘searching for some real help’.

OPC now delivers a fully managed IT service, and as Julie Lenarduzzi, Group Operations Manager for BCA, says “our experience with OPC has been nothing short of fantastic”. Part of that solution has been installing a new Dell server which has been faultless and that, along with OPC’s proactive monitoring, has taken the worry out of support. Julie adds, “everything just works and we can get on with business”.

Another great example where an OPC client has confidence to leave it to us

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Building Certification & Approval Building Surveying BCA Audits & Consultancy Advice www.bcacertifiers.com.au Canberra – Newcastle – Brisbane Est. 1998

For more information on how OPC can revolutionise your business, contact the team on 1300 788 616 31-37 Townshend Street, Phillip ACT 2606 www.opc.com.au

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F E AT U R E

Photo: Kasra Yousefi

More than fencing…

By Tim Benson

J

eremy Foster, founder of Jeremy Foster Landscaping and Fencing, started Foster’s Fencing five years ago – and made a name for himself in the fencing and homemaintenance industry.

Five years on and thousands of jobs later Jeremy has rebranded his business to focus more on gardening and landscaping.

“We are still one of Canberra’s best fencing contractors but we also do a lot more. These days you will find us doing things such as paving, retaining walls, landscape gardening – and a whole lot more.”

Growth in the business has led more machinery that now enable Jeremy and his team to undertake bigger and more complicated work.

“We now do residential and commercial work throughout Canberra and the surrounding region and are looking to grow the business over the next 12 months,” Jeremy explained.

I started the business because I enjoy working outside and the sense of achievement in delivering a great result for our clients,” Jeremy said.

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Jeremy is especially looking to grow the landscaping and gardening side of his business. He especially would like to grow the excavation services that he can provide.

“We are very good at digging holes,” Jeremy said laughing, “having recently purchased a mini-digger that allows us to access tight spaces for trenching, excavation and post-hole digging.”

I’m ready to take the next challenge that is put in front of me to grow my landscaping and fencing business Another part of Jeremy’s business that is taking off is commercial mowing and weed spraying.

“We currently do larger work for unit complexes and office buildings and are looking to expand this to other facilities such as schools and playgrounds and other public and private spaces.”

According to Jeremy there is no job to big or too small that he is willing to discuss with a client.

B2B M AGA Z I N E.CO M . AU

“We do work from backyard decks and pergolas to commercial paving and landscape design,” Jeremy said proudly.

Jeremy is passionate about his business and is ready to take the next step in expanding his services to builders, government and corporate clients.

“I’m ready to take the next challenge that is put in front of me to grow my landscaping and fencing business,” Jeremy said.

Facebook: Jeremy Foster Landscaping and Fencing phone: 0420 662 447 email: fosters.fencing@gmail.com

F E AT U R E

Whose sperm is it anyway?

By Rehana Richard

M

any Australians are turning to assisted reproduction technologies to conceive but have they considered what will happen to any stored genetic material in the event of their death? This question was considered by the ACT Supreme Court in a recent case (Roblin v The Public Trustee for the Australian Capital Territory & Anor [2015] ACTSC 100).

Following a diagnosis of cancer, James (not his real name) deposited sperm samples with a Canberra fertility clinic prior to undergoing chemotherapy treatment which would likely affect his fertility. At the time of depositing those samples James signed a contract which stated that the stored samples would be destroyed in the event of his death or permanent disability.

James and his (then) girlfriend, Amy (not her real name), made plans to be married and discussed having children using the sperm deposits. The couple decided against the idea once they found out James’ cancer was terminal. The couple also discussed the possibility of Amy sharing the sperm with two lesbian friends of theirs who were having difficulty finding a sperm donor. James’ wishes were only discussed verbally and not formally documented.

James died of cancer a month after he and Amy were married. The sperm deposits had not yet been used and James did not leave a will. After his death Amy contacted the fertility clinic regarding the use of her late husband’s sperm samples but was told that since James had died the clinic was obliged to

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destroy his samples in accordance with the contract he had signed. Amy commenced court proceedings arguing that her late husband had intended for her to receive the sperm samples as part of his estate.

… James’ stored sperm samples were part of the personal property of his estate and passed to his wife as the beneficiary.

In considering the legal authorities in this area, the Court recognised that while there are a significant number of cases that have dealt generally with the status of human sperm following the death of the donor, different issues arise in relation to sperm taken with consent prior to death and sperm extracted after death. There were no prior cases in the ACT dealing with this particular context.

In an interesting decision handed down in April this year the Court held that James’ stored sperm samples were part of the personal property of his estate and passed to his wife as the beneficiary. The clinic could not destroy those samples so long as storage fees continued to be paid.

This case is a timely reminder for those who have genetic material (eg. sperm, eggs or embryos) stored with a fertility clinic to specifically consider what they would want to happen in the event of their death or permanent disability. Regardless of what your wishes are regarding the use of any stored

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samples, it is worthwhile discussing your intentions with your family and documenting those wishes.

It also highlights the need to be aware of the terms of contracts with fertility clinics regarding the destruction of stored samples before or after death. While Amy was ultimately entitled to use her late husband’s sperm samples, the complex court proceedings may have been simplified with more detailed planning.

Once you have decided how you would like your genetic material to be dealt with, you should notify your lawyer of your intentions which will enable them to give effect to your wishes specifically under a will or enduring power of attorney.

Rehana Richard is a lawyer in the Wills & Estates team at DDCS Lawyers. The firm offers specialised advice in the area of estate planning and assisted reproduction.

(02) 6212 7600 estates@ddcslawyers.com.au, www.ddcslawyers.com.au

Expand and grow your business

Bird Cameron

Chartered Accountants

Do you want to expand and grow your business?

Who do you talk to about improving your bottom line?

Would you find comparisons against your industry peers useful?

At RSM Bird Cameron we know what it takes to make a business grow and we walk with you, side by side, to make it happen.

Call RSM Bird Cameron today and lets do business 6217 0300 | www.rsmi.com.au

With RSM Bird Cameron you really are‌ Connected for Success.

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F E AT U R E

Interviewing Self-Promoters – Cut through the spin!

By David Harrington

A

nyone who has spent time interviewing potential employees over a number of years has likely encountered ‘the Promoter’. They are the kind of person that always presents very well, they are easy to get to know, likeable, communicate readily and leave a good first impression.

Promoters LOVE: • Talking about themselves, they are big on positive personal narratives • Describing their successes, giving detailed stories of achievements • Speaking off the cuff, an unstructured meeting where they can go freelance on impressing you Promoters STRUGGLE WITH • Talking about their weaknesses • Describing situations where they or their team have failed • Structured interview questions requiring answers giving detailed specifics.

Typical traits of an interview with a Promoter: • It can be tough to get to the bottom of what they did themselves vs. what their team did • You are never entirely sure if there is substance behind the spin • You walk away liking them, but find it hard to pinpoint why • Interviews go on much longer, and it is more difficult to keep to a structure.

Promoters naturally tend to give you the positive spin on every situation regardless of the outcome.

Don’t get me wrong, we are not saying that Promoters aren’t great employees. They have many fantastic traits….. in the right role!

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The trick to interviewing a Promoter personality is cutting through what they want to tell you, and focusing on what you really need to know to make a decision.

Prepare structured behavioural questions A carefully planned behavioural or competency based interview delivered by an appropriately trained interviewer, followed up by a reference to confirm the details, is the only way to truly make an informed decision.

Do: • Before you start, identify the specific job related competencies you want to target and structure behavioural questions to focus on these • Drill down so you understand what they actually did themselves. Use probing statements such as “What were you responsible for?” What were you required to deliver yourself?”

• Be persistent and don’t be afraid to pause and wait for them to consider their response. Approach the question from different angles if you need to.

• Develop a rich picture of the situation described, what was required of the candidate in that situation, how they responded and what they achieved.

Don’t: • Ask general, open-ended questions • Let Promoters give a general answer to a specific question. Stop their answer before they get carried away and ask for a specific example

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• Don’t stop drilling until you have your answers!

Delve into the negative to reach a positive.

Promotor’s naturally focus on the positive, and it is useful to pose some of the behavioural based questions specifically towards a negative situation for example; “Tell me about a time you failed to deliver XYZ…” This is often where a Promoter will stop and can be somewhat lost for words. Commonly, they don’t want to recognise failure to achieve a strong outcome as something that was in their control.

In some situations this ‘blind spot’ can cause problems with accountability, particularly when employed in management positions.

Whilst it can be uncomfortable for inexperienced interviewers to persist in these circumstances, once the Promoter starts talking about a negative experience, it is usually where you will see them at their most open and frank. That’s when it can get very revealing.

Don’t be afraid to keep asking tough questions, Promoters can make great employees, but first you must cut through the spin to truly understand if they are a great fit.

Sourcing talent is a science, not a sales game

Please contact David Harrington, Director at HorizonOne Recruitment on 02 6108 4878 or david@horizonone.com.au www.horizonone.com.au

cso.org.au CSO concerts offer a unique and prestigious experience providing unparalleled opportunities to develop valuable relationships with staff, and current and potential clients.

Each CSO partnership is a bespoke package, tailored specifically to meet the needs identified by each partner. We don’t have set ‘plans’; we have an amazing product, innovative ways of associating with it, and a genuine desire to ensure that alignment with the CSO becomes a key element in your business development strategy.

To align your organisation with Canberra’s premiere arts organisation, write to partnerships@cso.org.au or visit cso.org.au.

LLEWELLYN SERIES

SATURDAY SERIES

/01 SIBELIUS 1 & 2 APRIL SCHUBERT The Magic Harp Overture ˇ DVORÁK Cello Concerto SIBELIUS Symphony No. 5

/01 SHELL PROM, GOVERNMENT HOUSE 14 FEBRUARY A Touch of Tartan

Nicholas Milton Conductor* Edward King Cello /02 TCHAIKOVSKY 6 & 7 MAY MATTHEW HINDSON Boom Box TCHAIKOVSKY Piano Concerto No. 1 RIMSKY-KORSAKOV Scheherazade Nicholas Milton Conductor* Hoang Pham Piano /03 BRAHMS 19 & 20 AUGUST KODÁLY Dances of Galánta SIBELIUS Violin Concerto BRAHMS Symphony No. 4 Nicholas Milton Conductor* Andrew Haveron Violin /04 RACHMANINOV 4 & 5 NOVEMBER MÁRQUEZ Danzón No. 2 RICHARD MILLS Soundscapes: for percussion and orchestra RACHMANINOV Symphonic Dances Nicholas Milton Conductor* Claire Edwardes Percussion

Featuring favourites such as Scottish Fantasy, Danny Boy, Hebrides Overture and more.

Guy Noble Conductor Anna Da Silva Chen Violin /02 ACTEW GRAND GALA 4 JULY Puccini Featuring favourites from Puccini, Wagner, Verdi & more.

Nicholas Milton Conductor* Eva Kong Soprano James Egglestone Tenor /03 CANBERRA WEEKLY MATINEE MAGIC 26 SEPTEMBER In the Mood music from the ‘big band’ swing era Featuring favourites such as Little Brown Jug, In the Mood, Chattanooga Choo Choo and more.

Timothy Sexton Conductor Rachael Beck Soprano *Artistic patronage of Nicholas Milton courtesy of ActewAGL

F E AT U R E

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F E AT U R E

The ‘how to’s’ on improving profits in your business

A

s a business owner, without profit you won’t be able to guarantee the long-term survival of your business. It provides the vital funds needed for reinvestment and growth, and is the lifeblood of the organisation.

Increased profit generally comes from two strategies: • cost reduction and efficiency • changing the business model Using both of these strategies cohesively will mean that your chance of improving profits over the longer term will increase and be more sustainable. It also provides you with the ability to adapt to changing market conditions.

The profit formula (profit = sales overheads - variable expense) is a practical and simple tool for identifying changes to be made to the components of profit in order to improve it. The profit tool can be quite powerful in pinpointing opportunities and strategies to increase sales and decrease overheads and variable expenses.

When reviewing your business model, look first at decreasing variable costs and overheads then look at increasing sales and generating review streams to improve profits long-term.

Cost reduction strategies There are a number of ways business owners can reduce variable costs and improve your cash-flow: • negotiate better buy prices with suppliers • reduce the number of suppliers • exercise tighter control over stock holdings to free up cash • get rid of obsolete/slow moving stock.

Consider a ‘bargain bin’ approach to generate cash • focus on better stock management including carrying less slow moving stock

• improve labour management including rosters, staffing and overtime • improve operational efficiency by lifting productivity and output with the same level of resources and cost structure • improve delivery efficiency and reduce over-delivering product and services • avoid discounting prices on lowermargin products and services. Consider bundling in supporting products/ services for a higher price • don’t discount unless you can achieve the same or better gross profit margin There are also a number of ways to reduce general overheads to increase profit: • review staffing or consider contracting rather than recruiting • reduce discretionary expenditure • look at bundling or aggregating expenses such as telecommunications • reduce any double handling to improve efficiency and productivity • identify the expenses that keep you in business and make sure you don’t cut them Increasing sales and generating revenue streams

40% of those surveyed in the RSM thinkBIG 2015 study expected growth through increased sales Being able to assess where sales can be increased requires you to complete a current revenue stream analysis. This includes reviewing where revenue comes from, whether each stream is growing, declining or stable, and what the financial impact of each stream is to identify gaps and opportunities for growth in existing streams.

Once that is done you can begin looking at other potential sources of revenue

including expanding or changing current revenue streams. You should compile the top three opportunities based on: • perceived value to your customer and what they will be prepared to pay for it • being a natural fit with your existing business that will provide synergy • ease of doing it given any additional costs or investment in equipment, infrastructure, etc.

You also need to consider any barriers that will prevent you from converting these opportunities and the possible actions to overcome these barriers. This might include access to capital, cashflow, employee head count or supply chain restrictions.

As a business owner it is important to focus on the long-term sustainability of the business by making sure the business is primed for profit. This involves reviewing and adjusting the business model to ensure that variable costs and overheads are minimised and your sales and revenue is maximised.

While recognising the critical importance of compliance in areas such as tax, RSM Bird Cameron also help SME owners take the next step to longterm wealth creation through sound business planning.

If you want to improve the bottom line for your business, call Andrew Sykes of RSM Bird Cameron on 6217 0333.

www.rsmi.com.au Connected for success For a full copy of the RSM Bird Cameron thinkBIG 2015 report which includes recommendations and tips for businesses as well as many useful case studies, head to rsmi.com.au/thinkBIG2015.

Bird Cameron

Chartered Accountants

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COVER STORY

Maloney’s magic moments

PROVEN, PREFERRED AND NOW GUARANTEED…

M

aloney’s property are approaching 20 years in business in 2016.

An exciting milestone.

Over this period the business has not only grown but now includes many complimentary parts. Sue and Peter Maloney have refreshed their brand and now offer something that will bring peace of mind to any property owner: a guarantee.

“We are so confident that we have the right systems and professional staff in place, that if you’re not happy with us we will refund up to six months worth of management fees,” Peter said.

Maloney’s have also taken the hassle out of switching property managers by offering to organise the swap and even pick up the keys.

“We have taken the risk out of the equation for people that want to change,” Sue said.

Peter says that some property owners are attracted to property managers who discount the fees to grow their business, but don’t have the systems in place to manage their growth.

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“The great thing about us is that, unlike most smaller property managers, we have invested in developing systems similar to those of a larger agency which enable us to foresee many issues that may arise in advance and have systems to deal with then swiftly if they do,” Sue said.

Maloney’s pride themselves on ensuring their owners are fully educated as to their obligations and rights under the legislation through the Maloney’s handbook.

Maloney’s have made a significant investment to their staff with the addition of a facilities manager. His role is to liaise with owners, tenants and tradespeople to ensure the owners investment is protected.

Maintenance is an area of possible contention for owners and tenants. Maloney’s see this as a huge advantage to their business.

“Instead of playing phone tag we now have a centralised maintenance service,” Peter explained.

Maloney’s Property has grown over the last 20 years but is still small enough that their clients can deal with all the principals. For example both of the directors are readily contactable via phone or email.

Peter and Sue are extremely proud that many of their

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staff have stayed with them on their journey.

Sue says this is a huge buzz.

“We try and provide a career path for our staff. Juniors generally start as leasing consultants and become sales consultants.

Our longest serving staff member, Debbie-Lee started as a junior and worked her way up to key accounts manager,” Peter said proudly.

So where did this local, successful, property business start?

As a landscaper on New Parliament House in 1987 Peter decided to go into real estate.

Peter worked for Realty World for the next nine years and after three years he became a sales manager.

In 1996 Peter bought a Realty World franchise and in 1998 renamed it to Maloney’s Real Estate.

“We initially focused on property management. We started with 80 properties and now we manage 1200,” Peter said.

Peter launched, Accommodate Canberra six years ago, after seeing a similar model in Melbourne.

“I am very pleased with the growth of Accommodate Canberra to an offering of over 100 executive apartments in six years,” Peter said.

Accommodate Canberra manages a portfolio of executive one, two and three bedroom apartments on behalf of their investors. With over 90 apartments in Canberra City, Acton, Turner, Glebe Park, Kingston,

COVER STORY

Barton, Deakin, Forrest and Phillip, you can experience luxury, sophisticated elegance and high class living at affordable prices. One of the areas that has really taken off is Braddon.

“Accommodate now has just added 12 properties in Braddon, one of Canberra’s trendy suburbs. Professionals love Braddon as it now features some of Canberra’s best night life, all this is within easy walking to the city, great for interstate guests,” Peter explained.

All of the Accommodate apartments are in central desired locations in commercial or social precincts. We offer luxuriously appointed and fully furnished, elegant, serviced executive apartment accommodation in Canberra’s most prestigious and sought after residential complexes.

“The benefits for property owners and investors are that they can generate almost double the return they would receive from a normal rental,” Peter said.

Peter says that an average one-bedroom apartment will rent for around $500 per week in contrast to approximately $1050 per week through Accommodate Canberra.

“In the last couple of years rents have experienced a major correction by around ten per cent but Accommodate has maintained its rates,” Sue explained.

A weekly housekeeping service is included in the nightly rate as well as security car

parking, leisure facilities and the complete cost of the apartment’s utilities.

“Corporates are saying instead of putting people into other 5 star hotels, we can put them in serviced apartments. Once you have stayed in an executive serviced apartment you won’t want to go back to a hotel,” Peter said.

Accommodate Canberra markets itself to local businesses, government departments and embassies, and by keeping in regular contact with clients.

“The majority of our regular clients come from a vast area of industries, yet they all love the style and standard of our accommodate apartments,” Peter outlined.

Accommodate Canberra also provides the capacity to book for one night in addition to the normal five-night stay.

So why use Accommodate Canberra and not stay in a hotel?

“Our properties are convenient. We provide excellent service. We have quality properties and furnishings. You benefit from a 5 star style accommodation but with a home-style feel – basically our properties are comfortable and affordable,” Peter said.

Accommodate Canberra’s executive apartments are booked by a wide variety of groups in the community including: employers, consultants, corporates, tourists, group bookings, accommodation tenders, tours,

conferences, sporting tournaments, concerts and family groups.

“Talk to us before you commit to your usual arrangements – you never know, you might find our products to be more suited to your needs,” Sue said.

Peter says that the property market has certainly seen improvement over the last 6 months. Demand for homes is up, buyers are keen to purchase while interest rates are still attractive.

“There are some great opportunities in the market place especially if you are looking at established apartments.

Properties with good bones in need of some TLC offer great potential,” Peter said.

Canberra is a great place for families and will continue to provide opportunities for property owners into the future.

If you are weighing up your options about selling or renting your property, then have a discussion with Maloney’s Property.

The future is exciting for Maloney’s as they continue to build on their excellent base.

ey’s on Contact Malon 6232 0100 u aloneys.com.a maloneys@m s.com.au www.maloney

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ADVICE ACCOUNTING

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5 ways your accountant can help save you money

BANKING

19

An investment in peace of mind

BOOKKEEPING

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What bookkeeping will look like in 10 years

BUSINESS ADVISORY

20

Turnaround – the art of business reorganisation

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The risk of using images off of the internet copy and paste, right?

BUSINESS LAW

by Paul Lanzon, ANZ Mobile Lending

by Harry Hoang, Tailored Accounts

by Tony Lane, Vincents chartered accountants

by Mark Love, Bradley Allen Love Lawyers

CORPORATE GOVERNANCE 21

Good governance – better performance?

ENTERTAINMENT

22

Now's the time to book your Christmas entertainment

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Why a "Pre-nup" (or Post-nup) might be good for your relationship

FAMILY LAW

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by Andrew Sykes, RSM Bird Cameron Chartered Accountants

by Phil Butler, Australian Institute of Company Directors

by Peter Funnell, Peter Funnell Entertainment

by Alison Osmand, Dobinson Davey Clifford Simpson Lawyers

INTELLECTUAL PROPERTY 23

Licensing of IP technology

RECRUITMENT

24

Senior management and executive level interviews: Outlining your vision

SPORT

24

The Gloss Ceiling: Does it exist in your business?

WEBSITES

25

Maximising conversions online

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by Shaun Creighton, Arete Group

by Jim Roy, Hays Recruitment experts worldwide

by Abul Rizvi, YABBA.guru

by Sam Gupta, Synapse Worldwide

ACCOUNTING

BANKING

by Andrew Sykes

Brought to you by Paul Lanzon

your accountant can 25 ways line Heading ONLY help you save money

An investment in peace of mind

Not sure who to trust for business advice? If you only use an accountant for taxes then you are overlooking an important resource. An external accountant can provide vital knowledge about your industry and its key players.

Just a quick catch-up will give you an idea of how your business is doing relative to competitors. By benchmarking in areas like sales, market penetration, production costs and overheads, you may uncover changes you need to make to improve profitability.

Although taxation remains their bread and butter, modern accountants have evolved into business consultants focused on finding different ways to add value and save you money.

Five areas where they can deliver cost savings include: 1. Bookkeeping An accountant can design and implement an effective record-keeping system for your operations. This will save you time and allow you to concentrate on building your business.

2. Cash-flow management Essential to the survival of any business is a projection of cash flow that will occur in the next 12 months. An accountant can work with you to produce a cash-flow statement that shows when and how much money is coming in and going out. You can then decide whether you will need to reduce costs or increase prices for your cash flow to remain positive.

3. Personal finance Accountants have knowledge on tax-minimisation practices, business valuation, due diligence and estate planning – all crucial elements to establishing a cost-effective business exit strategy.

4. Business planning A business plan steers you toward your goals and helps to secure funding. Underpinning this plan are your assumptions about the environment around you.

Accountants can add value here by confirming or challenging your ideas and beliefs. This will ensure your plan remains achievable, realistic and up to date in the eyes of potential investors.

5. Managing growth Most businesses will need to plan for increased sales levels. Higher outgoings from growing spend on staff, office or warehouse expansion, production and logistics will need to be met before money arrives from your sales.

An accountant can model costs and help you evaluate alternatives to finance your growth and prevent costly mistakes and lead you down the path of success.

Should you wish to discuss any of the above in relation to your business, call Andrew Sykes of RSM Bird Cameron on 6217 0300.

Personal Financial Advice Services is provided by RSM Bird Cameron Financial Services Pty Ltd (AFSL 238282).

Bird Cameron

Chartered Accountants

For more information, please contact Andrew Sykes, Director Business Solutions at RSM Bird Cameron, on andrew.syke@rsmi.com.au or 02 6217 0333.

Thinking about buying or building a property? Building insurance is likely just one thing on your long ‘To Do’ list – but as it’s so important, should you make it number one?

Understanding the hidden costs Whether the property you’re about to purchase is a home or an investment, if it’s severely damaged or destroyed down the track, the costs of rebuilding or relocating could be higher than expected.

That’s because rebuilding doesn’t just require bricks and mortar. There are many hidden costs, including demolition and debris removal, architects and legal fees, and long-term alternative accommodation.1 More than just a good idea Building insurance isn’t just a way for you to sleep more soundly; it’s a requirement for most lenders before you can finalise settlement on a property.3 Because putting a numerical value on rebuilding can be difficult and potentially time-consuming, it’s a good idea to start gathering quotes as soon as you and the seller have exchanged and signed contracts.

Before you begin coordinating building insurance, however, make sure you arrange pre-purchase building and pest inspections, as pre-existing structural and pest damage usually won’t be covered by insurance if discovered later.4 Also, as well as insuring the building itself, you may need to organise contents insurance (if you’ll be living there), or upgrade to landlord protection insurance to cover house contents being used by tenants.2 Be a devil for the details It may be difficult to remember details about a new property when you’re getting quotes from insurers, but these specifics could lower your premiums.3 Make sure that, along with basics like location and type of property, you note down features like construction materials (timber, brick) and roof type, deadlocks, window locks, alarm systems and other security, pool fencing and smoke alarms.3 Although complicated and a legal requirement, building insurance is also worth it in the long run. As well as being a great investment in peace of mind, any insurance payments on an investment property are also tax deductible.2 References: 1. ‘Home & contents insurance’, moneysmart.com.au, accessed 3 January 2013. 2. ‘Steps to take after settlement of your property’, whichproperty.com.au, accessed 17 January 2013.

3. ’12 steps to buying a new home’, mmf.net.au, accessed 17 January 2013. 4. ‘Dispelling the myths’, justtermites.com.au, accessed 4 January 2013.

Disclaimer: The information is in summary form and does not purport to be complete.

It is intended as a general guide only and is not a substitute for professional advice. The information does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you.

ANZ Mobile Lending For more information, contact Paul Lanzon, ANZ Mobile Lender, M: 0422 007 005 F: 02 8456 6021 E: lanzonp@anzmortgagesolutions.com This Mobile Lender operates as ANZ Mortgage Solutions Canberra Inner South & Queanbeyan/Jerrabomberra, ABN 74 122 012 720 an independently operated franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Australian Credit Licence Number 234527. ANZ’s colour blue is a trade mark of ANZ. Terms and Conditions, fees and charges apply. All applications for credit are subject to ANZ’s normal credit approval criteria.

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BOOKKEEPING

BUSINESS ADVISORY

By Harry Hoang

By Tony Lane

What bookkeeping will looks like in 10 years

Turnaround – the art of business reorganisation.

I went to a conference yesterday listening to some speakers talking about digital disruption which will eliminate 60% of professional service job in the next 10 years. Today, the Canberra Times mentioned about digital transformation scheme leading by the Government which will sack another 25,000 public service jobs.

Applying all of the theory that I know about digital disruption plus my practical experience in the field, I believe that many bookkeepers will have trouble finding jobs in 10 years. Here are couple of good examples: 80% of current bookkeeping tasks are still manual data entries which involve entering bills to accounting system, hours for payroll and manual reconciliation. In 10 years, 99% business would be using cloud accounting system which allows them to talk directly to each other hence sale invoice will flow from your accounting system directly to the customer accounting system and creating a bill ready to be approved & paid. Perhaps, there might be no payroll in 10 years since people will try to get away from the complication of payroll by moving from employment arrangement to contractual basis.

Another time consuming part is to deal with the transfer of payment between different businesses. Due to the high level of responsibility & dedication of the task, each time when we as a bookkeeper/accountant transact on behalf of customer/business owner, we would involve at least 3 staff and lots of cross checking…sometimes we felt that it costs them more than $1 to transact $1 bill.

So in 10 years, I would think all of this time consuming will be handle by only small number of big institution like a clearing house who are operating like a manufacture running by robots. There will be no more debt collection as bill/sale will always be processing on time. There will be no more BAS agent as the system will be able to report GST automatically on individual transaction to ATO rather than monthly or quarterly BAS lodgement.

I don’t want to go too far on this futuristic topic but if it is possible, I would like the tax system in 10 year to be able to calculate tax payable/credit on individual transaction hence no more catching up work for accountant and no more audit from ATO! Yahoooo!

Current digital technology allow computer to collect data from multiple sources and collate them into any format of information we want…which could also be known as big data mining. So I believe that all of my sayings above has been backed by a solid scientific background…the will not be many bookkeepers in 10 years but there will still be few outstanding bookkeepers who will evolved themselves in a different role in the future business financial world.

If you are interested in being part of this interesting journey, come to talk to our team at Tailored Accounts, we have been adapting to this digital disruption for over 4.5 years since we started using XERO, Quickbook online & its add on products.

Harry Hoang is Tailored Accounts Executive Director M3 Building, Level 1, Suite 127, 24 Lonsdale Street, Braddon ACT 2612 Australia T: 02 6169 5196 | M: 0434 196 607 E: info@tailoredaccounts.com.au | www.tailoredaccounts.com.au

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“A ship in the harbour is safe, but that’s not what ships are built for”, a quote attributed to John A Shedd, is translated in the context of this column to “doing what is easy is safe – it takes courage to do what is hard”.

That could often be said of insolvency practitioners and business turnaround engagements. Why? Insolvency appointments seek the safety of the Corporations Act 2001 within which an administrator, liquidator or receiver has certain protections, rights, obligations and qualifications to the work being performed. They have the ability to compel the production of things, to include or exclude claims and to avail themselves of the Courts as required.

Restructuring (or turnaround) engagements involve none of the protections offered by the Corporations Act and often can expose the turnaround expert to the same risks as company officers. Why do it? Simply – it generates better outcomes.

In a recent matter, it was suggested that a Company indebted to a commonly-occurring creditor for a substantial sum ought to be wound up. Following review of the financial statements and discussion with the director, the following became clear: 1. The Company utilised specialised plant and equipment which would suffer a severe reduction in value if put to the market in a distressed sale; 2. The Company generated sustainable revenues through a captive clientele and operated in a niche market; 3. There were good systems and procedures that supported the business operations.

Therefore, rather than simply wind up the company, a decision to run a structured market-based sale process was made. The benefits over liquidation were: 1. The sale process was competitive and drove the price up; 2. Sufficient funds were generated to discharge all the Company’s creditors; 3. The director entered into a ‘golden handcuffs’ arrangement with the purchaser – securing his personal income stream; 4. The Company’s employees remained employed; and 5. A small surplus was returned to the shareholders.

This is a simplistic example and true turnaround engagements are inherently complex. It often requires creditors to commit to outcomes that may compromise future claims or result foregoing security in return for restructured contractual arrangements. Additionally, there is no practical means of binding creditors agreements reached – the analogy of ‘herding butterflies’ is often used when trying to achieve creditor consensus.

However, if undertaken by an experienced and qualified practitioner, turnaround engagements can and do yield enduring real benefits to traditional insolvency appointments.

Tony is a Director at Vincents Chartered Accountants and provides specialist advice to clients in the areas of insolvency, business risk and financial conflict and dispute resolution. For more information, contact Vincents, Level 7, AMP Tower, 1 Hobart Pl, Canberra City.

T: 6274 3400 F: 6274 3499 E: tlane@vincents.com.au W: www.vincents.com.au

BUSINESS LAW

CORPORATE GOVERNANCE

by Mark Love

by Phil Butler

The risks of using images off the internet: Copy and paste, right?

Good Governance – Better Performance?

The internet has become one of the primary means by which businesses can connect with their customers; but when creating or updating your website, the law of copyright should always be a primary consideration if you want to avoid the risk of unexpected liability.

Photographs, for example, can very easily be searched and viewed online. However by law, the exclusive right to reproduce an image resides with the owner of the copyright in the image (usually the photographer or their employer). “Reproduction” includes making a digital copy of the image, and so by copying an image found on the internet and using it on your website without any authorisation, you are very likely to be in breach of the owner’s copyright.

The right to reproduce images is often licensed for a fee. In the prevailing system, the copyright holder submits their images to a “stock image supplier” or “copyright agency”, who act on their behalf in licensing the images for use, collecting the fees and remitting them back to the respective owner.

But if a stock image supplier finds that you have been using “their” images without a proper licence, they can also enforce the copyright holder’s rights against you, including the ability to recover any revenue lost as a result of your conduct. As was emphatically demonstrated in the recent Dallas Buyers case, copyright enforcement is a very real risk.

That case also raised awareness in Australia of a method of copyright enforcement employed by film studios overseas known as “speculative invoicing”, which involves sending threatening letters to the person allegedly in breach, asserting that they are liable for a significant amount, but offering to settle for a much smaller amount.

In Australia, stock image suppliers are now following suit, with the amounts they “invoice” tending to be inflated multiples of the licence fee that would ordinarily have been payable. Ignorance of the existence of copyright is no defence and the sums claimed are not insignificant, especially if it is a cost that otherwise would have been avoided by taking your own photograph, or not using an image at all.

If you have received such an “invoice”, there may be bases on which you can dispute the sum or a defence available under the Copyright Act 1968 (Cth); but the best way to avoid the situation entirely is to take down any potentially infringing content or ensure that you always have the appropriate licences in place.

While this column has regularly promoted the need for better governance, and well governed organisations are seen in a positive light, the direct correlation between governance and performance has been challenging. The Australian Institute of Company Directors (AICD) website recently published an article regarding some research into this topic.

In late 2014, the Australian Institute of Company Directors commissioned Dr Robert Kay and Dr Chris Goldspink to undertake research into the relationship between governance and business performance.

While it is commonly accepted that boards add considerable value to the organisations they govern, surprisingly little research has been undertaken to ascertain when, in practice, good governance actually drives better performance.

The research (which was released at the AICD’s Company Directors Conference, May 2015) involved interviews with 100 senior chairs of Australian organisations. Relevant organisations included listed companies, not-for-profits, private companies and public sector organisations.

The methodology differs from previous research on this topic, which focused on the use of proxy measures or data from annual reports to draw conclusions on governance in organisations and how this translates to performance.

The research represents a progressive first step towards a deeper understanding of good governance in practice and how it translates to business performance. It challenges conventional thinking about the relationship between boards and management. It also suggests that some of the metrics by which boards have been assessed in the past fall short of the mark when it comes to understanding the real relationship between good governance and organisational performance.

Importantly, the research draws attention to the complexities and nuances in governance practice. While it does not represent a shift in the AICD’s views on important governance issues – such as the value of independent directors or the role of the board versus management – the AICD hopes that it will start a dialogue in the governance community about better governance practices and how and when this is achieved.

This report is the first in a series of research studies to be initiated by the AICD and Centre for Governance Excellence and Innovation. It marks the beginning of what will become an ongoing research program into the nature and practice of good governance.

The full report can be downloaded from the AICD website. Simply visit www.aicd.com.au and go to the Director Resource Centre web page.

Mark Love, Legal Director, Business Law 9th Floor, Canberra House, 40 Marcus Clarke Street, Canberra ACT 2601 E: mark.love@bradleyallenlove.com.au T: 02 6274 0810 | www.bradleyallenlove.com.au

Phil Butler is Manager - NFP, Public Sector & ACT at the Australian Institute of Company Directors.

Level 3 54 Marcus Clarke Street Canberra T: 02 6132 3200 | www.companydirectors.com.au

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ENTERTAINMENT

FAMILY LAW

by Peter Funnell

by Alison Osmand

Now's the time to book your Christmas Entertainment

2Whylinea “Pre-nup” Heading(or Post-nup) might be good for your relationship ONLY

Over 40 Years of Entertainment Knowledge and Experience in one call For well over 40 years I've arranged entertainers for a wide variety of Christmas and New Year functions and my best advice is to get in early. From a single entertainer for a small office party, or a show band guaranteed to impress your staff and clients, your choice of entertainers is as important as the menu, and the experience will last well into the New Year. From single artists, singers, musicians, comedians, comperes, discos, Karaoke or spectacular show bands, the variety is endless. One of our most popular show bands is Smooth Ops, one of Canberra's most versatile cover bands, at home with all styles of popular music from the 30s to now. With fabulous singers and a tight ensemble of keyboard, lead guitar, bass and drums, the band suits all occasions. As well as their party dance mix, and dinner/cocktail music, they perform a number of show segments featuring guest players (bagpipers, trumpeters and violinists).

Smooth Ops specialises in corporate and function work.

A very popular 3 piece band is Socialites who have been on the Canberra music scene for over 2 years and are one of the regions most popular bands.

Socialites are the band you want when you desire a complete professional and above all, entertaining act.

They have performed in such diverse areas as theatre, Casinos, clubs, pubs, corporate functions, weddings, football grand finals, and parties. Socialites are not just booking a band, but a complete entertainment EXPERIENCE!" For more information on these and many more popular choices including Checkone2–DJ & Karaoke, Tuchasoul, Big Boss Groove and Plump, please visit our website. From 50 to 1000 guests, one phone call is all it takes. We even recommend the perfect venue.

To ensure we deliver the best bands possible All bands are personally auditioned before accepted to the Agency.

Focus is on Punctuality, Presentation, communication with the client and keeping the dance floor full. For obligation free advice on the perfect entertainment for your next function, call me and we'll start planning your most memorable Christmas function ever.

For obligation free advice on the perfect entertainment for your next function, call me and we all start planning your most memorable Christmas function ever.

Peter Funnell’s knowledge and experience in servicing the Canberra region has no peer.

Corporate and government events, conventions, seminars, outdoor festivals, private functions, and entertainment to meet your requirements perfectly.

Go to www.funnellentertainment.com.au | Email: peter@funnellentertainment.com.au or Phone: 02 6251 5452 | Mobile: 0412 620 310

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Divorce rates are on the rise. These days, couples are bringing more to the table than ever before. They stay at home with their parents for longer, marry later and start families later. Nowadays, people are more attuned to the idea of having a choice about how their financial affairs will be dealt with, in the event of a relationship breakdown.

A well-drafted Financial Agreement (known as a “BFA” or a “Pre-nup”) is one way you can “buy certainty” about how your property and finances will be dealt with if your relationship ends. The process encourages important discussions with your spouse or partner about a range of different matters - not just about money. Sensitive matters can be considered and openly discussed at a time when there is an incentive for both parties to reach agreement about an acceptable way forward if the relationship ends.

You can enter into a Financial Agreement if you are: 1. Intending to marry or enter into a de facto relationship (regardless of gender) (also known as a “pre-nuptial agreement”); 2. In a marriage or a de facto relationship (to deal with the division of your property in the event that you separate); or 3. If you are separated (to formalise an agreed property settlement).

The benefits of a Financial Agreement before separation includes that you can: 1. Preserve previously-owned property by “quarantining” what you each brought in. You could then elect to then divide all jointly acquired assets in a pre-determined way if you separate; 2. Protect specific assets for the benefit of children from previous marriages. This can be particularly helpful for couples entering into second or subsequent marriages; 3. Preserve interests in multi-generational or family businesses, property or wealth; and 4. Prospectively deal with anticipated inheritances due to one party or both.

The benefits of a Financial Agreement after separation includes that you can: 1. Formalise a property settlement with your former spouse in a timely and confidential way without needing to provide information to the Family Court; and 2. Not have to “justify” to the Court the reasons for the property settlement that you have reached.

You can also obtain stamp duty exemptions for the transfer of property from one party to another.

Why do you need specialist advice?

It is important that you obtain advice from a lawyer who has expertise in family law and Financial Agreements. Good advice and proper drafting will ensure that your Agreement achieves its intended purpose. A well-drafted Financial Agreement can only be set aside in very limited circumstances.

Alison Osmand is a Senior Associate of the firm 18 Kendall Lane, New Acton Canberra City ACT 2601 T: (02) 6212 7600 E: mail@ddcslawyers.com.au www.ddcslawyers.com.au

INTELLECTUAL PROPERTY

by Shaun Creighton

Licensing of IP in technology include dealing with the technology for or within a particular industry.

Licence Fees and Royalty structures Careful consideration should be given to licence fees and royalties payable by your licensees including precisely defined mechanisms for calculating and reviewing royalty rates.

The commercialisation of intellectual property (IP) in technology (eg copyright in source code, inventions in patents and any branding in trade marks) is generally achieved through licensing.

1. Licensing of IP Licensing is a flexible and powerful tool and is a central feature of most effective IP commercialisation strategies. Licensing allows the IP owner to retain control of the IP while granting particular rights to another person (licensee) based on the licensee’s particular skills and needs.

The IP in technology can be licensed on an exclusive, sole or non-exclusive basis.

Exclusive licence. This involves the IP owner granting rights to the licensee, to the exclusion of all others (including the owner), permission to use the IP for the particular purpose described in the licence.

Sole licence. The same as an exclusive licence except that the owner retains a right to commercialise on its own behalf.

Non-exclusive licence. This involves the IP owner granting rights to a licensee on without any exclusivity meaning that the owner can also license others with the same rights. For example, most software is licensed to end users on a nonexclusive basis.

2. Key terms in a licence agreement We believe successful IP commercialisation strategies are built on contracts that create ‘win win’ results for all parties. A number of important clauses must be carefully negotiated and included in any licence agreement. These clauses include: Scope To successfully license technology you must understand and specify the boundaries of the monopoly rights that attach to IP in that technology.

Exclusivity A licence should always specify whether the licensee is the only person permitted to deal with the technology. Permitted use can be defined by reference to location, field of use, industry, length of time and industry type. Care needs to be taken not to breach competition laws which prohibit certain types of exclusive arrangements.

Territory It is important that you only grant rights to IP in those territories where your IP is protected or registered (or where you have the right to grant the licence). If your IP rights are not international then a licence entitling the licensee to deal with the technology in other jurisdictions may be of little value and create a risk that the licensee believed you represented that you had broader IP rights than is true. This could lead to a dispute.

Minimum performance obligations If granting an exclusive or sole licence, this is an important consideration because you want your licensee to achieve sales and to effectively commercialise your IP. Your licence agreements should include performance targets and include consequences for failure to achieve such as the right to limit the scope, territory or exclusivity of the licence so that you can appoint other commercialisation agents. A persistent failure to achieve targets might be expressed to result in the right to terminate.

Term You should specify the period of the licence agreement together with any right of renewal (including conditions for granting a renewed term).

Fields of use The scope of monopoly rights that attach to IP varies according to the type of IP. It is open to the parties to agree to limit the licence to any one or more of those monopoly rights. Common examples

Sublicensing You may wish to either prohibit or permit your licensees from appointing other persons with the right to commercialise your IP (known as a right to sublicense).

Other Important clauses There are a multitude of other issues that should be considered in any commercialisation arrangement and these include (in no particular order): • details of any IP that is being cross-licensed by the other licensee; • obligations to respect one another’s confidential information; • setting out the circumstances where a party can terminate; • defining who owns any new IP that may arise under the agreement; • the inclusion of a dispute resolution process rather than having recourse to litigation; • a right to audit the licensee’s books to ensure royalties actually received correlate with actual commercialisation performance; • a regime for defending and enforcing infringement of your IP by third parties; • management of risks and liability including indemnities from your licensees holding you harmless from any breach they may commit; • carefully limiting any warranties you may give in relation to your IP and excluding liability for matters beyond your control.

ARETE Group’s lawyers have expertise in protecting and commercialising IP, including drafting and negotiating suitable licence agreements. Contact Shaun Creighton to discuss how we can assist with your IP commercialisation requirements.

For further information or if we can assist, visit our website at www.aretegroup.com.au or email Shaun.Creighton@aretegroup.com.au for an obligation free assessment of your legal issues.

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RECRUITMENT

SPORT

by Jim Roy

by Abul Rizvi

Senior management and executive level interviews: outlining your vision

The glass ceiling: does it exist in your business?

Attending interviews for Senior Management or Director level roles can be extremely challenging. As you progress up the ladder fewer and fewer opportunities will present themselves, meaning when the right opportunity does come up, you really do need to ensure that you’re on top form to secure the role.

The challenge with these senior level interviews is that you will not only be asked to outline your experience in detail but you’ll also be expected to describe your management style, prove your delivery capability and set out your vision – not an easy task to prepare for!

An excellent book on management and leadership is ‘The Fifth Discipline’, by Peter M Senge. It’s a visionary book and how to guide on creating ‘the learning organisation’, which is a collaborative approach to organisational development.

Senge, a lecturer at MIT’s Sloan School of Business, created a very simple set of disciplines that organisations can use to truly understand the behaviours that are composite in the transformation of a business from broken to fixed, from good to great. Working with organisations such as Ford, Shell, and AT&T over many years, Senge is able to distil the key and necessary components that underpin lasting, radical and transformational change successfully.

Below are his five disciplines to help define your vision: 1. ‘Personal mastery’: A discipline of continually clarifying and deepening our personal vision, focusing our energies, developing patience and seeing reality objectively.

2. ‘Mental models’: These are deeply ingrained assumptions, generalisations, or even pictures of images that influence how we understand the world and how we take action.

3. ‘Building a shared vision’: A practice of unearthing shared pictures of the future that foster genuine commitment and enrolment rather than compliance.

4. ‘Team learning’: The capacity of members of a team to suspend assumptions and enter into genuine thinking and discussion together.

5. ‘Systems thinking’: The Fifth Discipline that integrates the other four.

So, how does this benefit you in preparing for a senior level interview? It helps outline a great strategy you could employ if you were to join the business and create a strong team culture. Many executives talk about a 90 day plan on appointment – these disciplines help you define that program. It could also help to outline how you would aim to maximise revenues through a shared belief on improvement and output; how communicating messages to everyone from the board to the shop floor will be clear, concise, engaging, realistic and believable.

Now, how would you get people on the shop-floor to focus on ‘Personal mastery’ goals? (Effectively, the sum of the parts creates the whole). Do employees have an appropriate ‘Mental model’ to latch on to? How will you make sure that management and staff have a shared vision? How does your team learn from its mistakes, experiments and endeavours? How will this learning help to define the strategy for the business?

These five disciplines represent an excellent wallet-sized view on defining leadership strategy that could be extremely useful in your next interview.

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Jim Roy, Regional Director 5th Floor, 54 Marcus Clarke Street, Canberra T 02 6112 7663 | F 02 6257 6377 E canberra@hays.com.au

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Barack Obama has said that rising levels of income inequality are “the defining challenge of our time”.

While he may not have specifically been referring to income inequality between men and women, the glass ceiling is a major contributor to income inequality. Despite sex discrimination legislation, the glass ceiling remains a real issue in many businesses and in many professions in Australia.

The sports profession is no exception.

At Govhack 2015, Harry Cominos, Lewis Bailey and Robert d’Apice used the tax data of over 10 million Australians (anonomised and made available by the Australian Tax Office) to develop a measure of how thick the glass ceiling is for different professions. That is the size of the income disparity between men and women in different professions measured as a mark out of ten inches (with ten being the worst possible score and zero indicating that men and women receive the same pay in that profession).

Of 433 occupations surveyed, Sports People were found to have the second worst score at 8.8 inches, just behind Electrical Distribution Trades Workers and on a par with Bank Workers. Truck Drivers was an example of an occupation with zero pay disparity.

The pay disparity between men and women sports people is putting intense pressure on many national sports governing bodies.

For example, each player in Australia’s women’s soccer team, the Matildas, was paid $500 in match fees for the games leading up to their effort in the round-of-16. Their male counterparts, the Socceroos, received $7,500 for the same thing. This is despite the fact the Matildas went deeper into the recent and previous World Cups than any Socceroo side ever.

Football Federation Australia women’s football head Emma Highwood has said that “[n]o doubt there will be an increase in the structure of those payments. Our long-term goal is the players have a full-time salary so they can concentrate on football… We grow it [women’s salary levels] when we grow the game, that includes how we grow it commercially and get more eyeballs watching.”

A similar commitment has been made by Cricket Australia in terms of the pay disparity between women and men cricketers.

But does this pressure apply only to sport?

What is the level of pay disparity between men and women in your business? Are you dealing with this proactively, or are you like many sports governing bodies, waiting for the women in your business to make more noise, perhaps via the media?

Is that the best strategy (ie keep your head down) or would your business benefit by being a leader in this space?

For more information, contact Abul Rizvi Managing Director Yabba.guru on 0413 990 439 or go to www.yabba.guru

WEBSITES

by Sam Gupta

Maximising 2 line Heading ONLY conversions online Gone are the days when you could simply rely on advertisement campaigns alone to generate sales. The sales process has become much more complex now and your website plays a critical role in it.

In the old times, you would come up with a package deal, run a TV, radio or print ad and generate traffic to the website and hope that some of it converts. Some obviously buy, but what happens to those who don’t? The problem is that a lot of resources and efforts are wasted in generating traffic and not enough in engaging visitors or building relationships. This can make the cost of acquiring new customer very high.

Customers nowadays have many options from which to choose.

They can get roughly the same kind of product or service at roughly the same kind of price from someone else. They don’t just blindly trust an advertisement anymore, they like doing some research before they commit to buy. There is too much noise out there. What it comes down to is the type of relationship you have with your potential customers. The stronger the relationship, the better the chance of conversion.

The idea is that rather than just focusing on the traffic that is ready to buy from you, try to also look after people who are interested in your product but are not ready to buy just yet. Try to capture the ‘not-so-hot’ leads and nurture them via your CRM and automated marketing.

Depending upon your product or service, you can employ a variety of short term and long term lead nurturing strategies to build a strong relationship with your customers. This way, when the customer is ready to buy, you are one of the first businesses in their mind. It will simply increase the chances of conversion.

Similarly, existing customer traffic is often taken for granted by many businesses. Integrate your website with the CRM and email newsletters to build relationships with your existing customers. It all comes down to personalisation. For example, a CRM can trigger an email to your sales when customers visit certain pages multiple times or show interest in another product.

By personalising the messages and building strong, genuine relationships, you will be able to increase the conversion as well as the likelihood of repeat business and referrals.

If you would like to know about how your business can grow online, give me a call and we can discuss it over a coffee.

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A S S O C I AT I O N S T O B U S I N E S S

CONFIDENCE KEY TO BUSINESS GROWTH ROBYN HENDRY

CEO CANBERRA BUSINESS CHAMBER

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I

was perusing some quotes recently and the following attributed to Helen Keller caught my eye: “Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.”

The reason this resonated with me is because it reflects why business confidence is so important.

Without confidence and optimism, whether economic times are good or bad, we are going to see less new businesses created and more businesses close their doors.

In the ACT, business confidence has taken a hit recently due to a downturn in Australian Government employment and spending. The Federal Government and people who work in the Australian public service are key customers for Canberra businesses.

However, unlike in 1996 – the last time Commonwealth cut backs really hurt the ACT – our business sector is more diverse and was much more confident of its ability to survive and even prosper by being innovative or targeting new markets.

As a result, the dip in confidence did not last long and anecdotally I am hearing excitement and positivity from business owners about the future.

The stories people are telling me are backed by figures, with the latest Sensis report showing business confidence up by ten points.

According to this research, the ACT is one of only three jurisdictions where small and medium enterprises are showing positive support for the policies of their local government. The view of businesses surveyed is that the ACT Government is focusing on infrastructure development and is doing a lot to promote the building industry.

Perhaps even more telling, is the fact only 22 per cent of ACT businesses feel negatively when it comes to confidence in their own business prospects in the next 12 months. This is the lowest this sentiment has been in over a year.

On top of this, other factors are also improving.

The ACT unemployment rate has dropped for the eighth consecutive month.

According to the Australian Bureau of Statistics, the territory’s trend unemployment rate fell to 4.1 per cent in June from a high of 5 per cent in October.

Meanwhile, elsewhere in Australia unemployment is on the rise. We know the ACT numbers are in B2B M AGA Z I N E.CO M . AU

part due to those without work in Canberra leaving to find employment elsewhere, but it is also due to improved conditions here.

Currently, the ACT enjoys the lowest unemployment rate in Australia. Not bad for a city where the largest employer stopped hiring for a period of time.

In addition, the ACT’s participation rate has remained stable at 70.1 per cent, which is higher than the national seasonally adjusted rate of 64.8 per cent.

Employment in Canberra should continue to improve as the Australian Government lifts its recruitment freeze.

The low Australian dollar is helping many local exporters, such as our internationally respected education sector, secure more international markets.

What this period has really shown us is that ACT businesses are confident in their products, their services and their ability to adapt when necessary.

Our innovative and knowledge-based businesses are competing on the world stage. Our construction industry is strong and a significant employer. These and other businesses have continued to operate and even grown.

Many new skills have flowed into small and medium businesses from those who left the public sector during this time and this will lead to even more new ideas and opportunities.

Unlike in 1996, when government cuts pushed the ACT into recession, this time around our businesses took a moment to breath and then confidently went to work in the changed environment they faced.

Seeing as I started with a quote, let me finish with one. A quote that sums up the attitude businesses took and why this has allowed them to come out the other side of an economically tough time and be confident about their future prospects.

“Don’t wait for opportunity to come knocking on your door... go out and give it directions.” No one has claimed responsibility for this saying, but it could definitely be a mission statement written and adopted by any of the ACT’s many successful business owners.

Contact phone: 02 6247 4199 email: info@canberrabusiness.com web: www.canberrabusiness.com/

At Synapse, we take the time to understand your business, your products, your customers and then design a digital strategy to help you steer your business in the right direction.

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CHIEF MINISTER’S MESSAGE

ANDREW BARR

CHIEF MINISTER TREASURER MINISTER FOR URBAN RENEWAL MINISTER FOR TOURISM AND EVENTS

2015-16 ACT Budget for Canberra

I

n early June, I delivered the 2015/16 ACT Budget for Canberra. This Budget will ensure Canberra remains the world’s most liveable city and remains a place all Canberrans can be proud of, with an economy in which we can all feel confidence.

The budget aims to ensure we maintain our core values – by continuing to invest in health and education. In 2015/16, we are investing $1.5 Billion into our health system and $1.1 Billion into our nation leading schools and tertiary education facilities. We are also leading the way by continuing our taxation reform, reducing stamp duty, abolishing insurance tax and seeking to address the impact that domestic violence has in our community.

This year, there is a substantial cut to the amount we receive from the Goods and Services Tax from the Commonwealth. In the coming four years, the Territory is expected to lose almost $559 million in GST funding. Such a large reduction has a significant impact on our budget. The Commonwealth has also walked away from health funding – with the Federal Budget indicating they are again failing to honour the National Health Reform Agreement.

Together, the effects of the Commonwealth’s past two budgets and the Asbestos Eradication Scheme have put significant pressure on the Territory’s finances. The ACT Government faced a choice – we could pass those costs on to the community in the form of cuts to support and services.

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Or we could stand up for our community and use our strong budget position to invest in our city. The Government’s immediate priority is to support the Territory economy, and this budget does just that. Supporting the economy and our people and building productive infrastructure creates employment, improves services and generates long-lasting benefits for our citizens. This fiscally responsible approach reflects a strategy that partially offsets spending through savings and revenue initiatives over the next four years.

The ACT Government, through the 2015/16 Budget, is also beginning the process of financing the Capital Metro project – with funding allocated for the first stage of a city-wide network. The Government will allocate $375 million for a capital contribution towards the transformative project, which will be set aside until construction of stage 1 is complete and light rail becomes operational. This is an affordable project that will change our city – providing citizens with a viable and sustainable public transport option now, and in the future as the city continues to grow.

This is a Budget for Canberra – and I look forward to seeing how this investment can transform our city in the coming year.

For more information on Confident and Business Ready: Building on Our Strengths visit www.business.act.gov.au/strategy

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