BusinessTimes - December 2013

business networking: Frankston | Mornington Peninsula | Dandenong

December/January 2013-14 | $4.95 (GST inc.)

spring in his step Getting into hot water can lead to success

design win architects praised for dandenong’s new look

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Inside

www.businesstimes.net.au

ISSUE 41 / DECEMBER-JANUARY 2013-14

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FRANKSTON / MORNINGTON PENINSULA / DANDENONG

TONY MURRELL KEITH PLATT MARG HARRISON DAVID HILET MELANIE LARKE SIMON BROWN Design MARLON PLATT

Publisher / Director Editorial Director Sales Director Managing Director Material production / Prepress

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STREET DESIGN: Architects sweep award for new look Dandenong street.

BEND IT, SHAPE IT...

A versatile building board is giving designers more scope.

Email: General: inquiries@businesstimes.net.au Editorial: news@businesstimes.net.au Advertising: sales@businesstimes.net.au Artwork: production@businesstimes.net.au

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Columns Networking: Ivan Misner Health: Mike Ellis Markets: Richard Campbell Social Media: Jessica Humphreys Excel: Neal Blackwood Managing: Hamish Petrie

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For advertising, contact Marg Harrison on 0414 773 153 or marg@businesstimes.net.au DISCLAIMER: Information in BusinessTimes contains general advice only. No article or column has been prepared taking into account any individual reader’s financial situation, investment objectives or particular needs. Readers should personally consult professionals for advice on any matter, including investment, health and the law. While all care is taken, BusinessTimes accepts no responsibility for errors or omissions in the published material.

Views expressed are not necessarily those of BusinessTimes Pty Ltd. All content is copyright.

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SPRING IN HIS STEP HOT WATER GETTING INTO SUCCESS CAN LEAD TO

WIN DESIGNPRAISED FOR

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COVER: Charles Davidson wants Australia to develop a viable industry based around hot springs . P11.

PICTURE: KEITH PLATT

ARCHITECTS NEW LOOK DANDENONG’S

DUCT BEND NEW PRO BUILDING PANELS FOAM WITH THE SHAPE

Check updates online at www.businesstimes.net.au

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February 2013 | Frankston / Mornington Peninsula / Dandenong | BusinessTimes | 3

the region

Dandenong street wins design award The redevelopment of Lonsdale St, Dandenong, (left) has won this year’s Walter Burley Griffin Award for Urban Design.

Judges for the Australian Institute of Architects National Awards described the Lonsdale St part of the Revitalising Central Dandenong project as “a complex work in a challenging socio-economic environment”.

The award was announced at the Sydney Opera House on 7 November.

The judges said the Lonsdale St works had already had “a dramatic impact in changing the feeling of the city, shifting how it is understood and used by locals and visitors alike. Not so long ago Dandenong was seen as a place to avoid, now it is a destination”.

The judges notes continued: “The architects and landscape architects describe themselves as ‘urban curators’ who ‘offer key ideas and strategic moves

‘Not so long ago Dandenong was seen as a place to avoid, now it is a destination ... The project is an example of the success of a whole-of-government approach.’ that are catalysts for change’. This first built outcome [of the revitalisation program] demonstrates the power of such a strategic design approach.

“Transport systems (bus routes) have been reconfigured, and existing infrastructure (train station, substation) integrated into the existing urban fabric, with clear new connections established to Lonsdale St. This has helped shift the city’s centre of gravity and created healthy, vibrant urban spaces.

“The design process was genuinely consultative and collaborative, and has led to a resilient, clear master plan that allows other stakeholders – including other architects –

WIN FOR ‘SMART’ FORUMS

HICKINBOTHAMS SPREAD WINGS

SMART Small Business Forums, a new Melbourne based business supporting the micro and small business sector, won the award for “Best New Start-up Business” at the 2013 Action Coach My Business Awards.

Founder Brenda Thomson, (Business Times cover story March, 2013) said the forums were a vital resource fro small business owners in a climate where so many fail.

“A major problem is that many small business owners have a lot of energy and ideas, but lack the business knowledge and experience to turn their passion into a successful business,” Ms Thomson said.

“I launched SMART Small Business Forums because of the huge need for knowledge and support in this small business sector.”

“With limited business experience small business owners are often completely unprepared for the challenges of identifying, attracting and retaining clients.

“They frequently work long hours, often in isolation and for little reward, and struggle to maintain motivation and focus.”

Eighteen years ago Andrew and Terryn Hickinbotham built their own winery at Dromana intentionally sourcing pre-used material. The counter is from an old State Bank, the main frame was the Hampton High School gymnasium, while ironwork was from the old Melbourne Steamship building and glass doors from a Hoyts Theatre.

Since then they have opened a cafe for their growing number of cellar door visitors. The live music on weekends has meant a packed winery most weekends.

Hickinbotham says he mingles with guests because wine drinkers like to talk to the winemaker, which rarely happens at large wineries.

The Hickinbothams now make ‘Hix’ beers that are proving popular with entrenched wine drinkers. So popular that a ‘Beer Bar’ has opened in nearby Rosebud.

Also, cellar door visitors can enjoy the family’s apple cider and fruit liqueurs.

The café’s ‘Strawberry Kiss’ is gaining an army of fans and vegetables served are all grown on the property. Andrew and Terryn make a point of promoting their enterprise as ‘children friendly’.

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Brenda Thomson

“SMART Small Business Forums create an environment where small business owners can share knowledge, ideas and resources, working together to reduce costs and implementing shared marketing strategies and joint ventures.”

“Forum meetings give members the opportunity to talk through challenges and issues and share experiences, learning from each others’ failures and successes.

Ms Thomson said “We are encouraged by the recognition from the Action Coach My Business award and grateful to Regus the sponsors of the Best Start Up Award, for their endorsement.”

Ms Thomson won the Australian Home Based Business of the Year award in 2008.

BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/January 2013-14

BUSINESSES BEHIND ART Backing from businesses for the Mornington Art Exhibition is helping increase the amount of money being spent community projects.

Since its inception, the art exhibition has raised close to $900,000 for Mornington Rotary Club projects such as student scholarships, senior citizens’ welfare, yachts for people with a disabilities organised by Mornington Yacht Club, building four gazebos and helping science-based education for students.

Artists participating in the exhibitions have received more than $1.5 million for their works.

“Business sponsorships remain the lifeblood of the exhibition,” Rotarian John Renowden said.

The 42nd exhibition being run by the club runs 18-27 January at Mornington Community Theatre also includes photographic art.

He said sponsorships taken up by

business “defray overhead costs and enable a profit to be generated”.

“The exhibition receives a commission from the sale of art works and gains revenue from entry fees and a major raffle,” Mr Renowden said.

“The gala opening night on 17 January is a colourful social occasion infused with live music, finger food and refreshments.”

Major sponsors supporting the exhibition include Mornington Peninsula News Group, the Grand Hotel, Cameron’s Menswear, Watsons, Mornington Cinema, Bunnings, Galaxy Print, Big Four Holiday Parks, Farrell’s Bookshop, AMCLA medical supplies, Helloworld Travel, Mornington and Progress Signs.

Mornington Chamber of Commerce and Mornington Peninsula Shire.

Tickets to the exhibition opening are available at www.morningtonartshow.com.au or at Camerons Menswear and Farrell’s Bookshop, both in Main St, Mornington.

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to contribute meaningfully to the vision.

“The project is also an important example of the success of a whole-of-government approach. It has been achieved through a concerted, coordinated effort from VicUrban, the Department of Planning and Community Development, VicRoads, the Office of the Victorian Government Architect and others.

“This integration of many agencies successfully brings both urban hardware and activity to the area.

“Lonsdale St has been transformed from a wide, barren arterial route into an engaging pedestrian realm. Through traffic is now concentrated in the centre of the street, separated by four rows of trees. Local traffic is slowed through the careful design of side roads, paving, planting. Existing shop fronts now open onto a sequence of generous, beautifully planted, carefully furnished public plazas.”

The judges said positive development of Dandenong “will surely flow from this outstanding, resonant and far-reaching work”.

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December/January 2013-14 | Frankston / Mornington Peninsula / Dandenong BusinessTimes | 5

BUSY BITES

It’s probably not the recognition that he would choose, but environment minister and Flinders MP Greg Hunt has made his mark colloquially. The usually wellscripted Coalition minister quoted Wikipedia when telling reporters in October that bushfires were nothing new in Australia while explaining away links between climate change and bushfire intensity. Questions were immediately raised about Hunt referencing the editable online free encyclopaedia when he had the parliamentary library and any number of dependable scientific references at his disposal. From now on, for better or for worse, checking “facts” with Wikipedia can be seen as “doing a quick Greg Hunt”.

China investment fair Dandenong businesses are likely to be encouraged to attend an investment fair in Chinese “sister” city, Xuzhou.

If the trip goes ahead, the delegation will follow in the footsteps of a three-day visit in July by the then mayor Angela Long, engineering services director Bruce Rendall and business group manager Paul Kearsley.

Mr Kearsley has since returned to Xuzhou to assess the value of attending next year’s fair.

technology reduces personal touch Nearly two thirds of Australian business owners and managers believe that the increasing use of technology and digital communications means we are losing the personal touch when doing business.

The Servcorp Good Business Study published in November found that almost half of those surveyed admitted to spending less time meeting in person with clients and contacts than they did five years ago.

The research by the serviced and virtual offices provider reveals that too much reliance on technology could be threatening the art of good businesses.

Business owners and managers admitted to being significantly influenced by technology-related faux pas when choosing a supplier or awarding a contract, including: • Not having calls and/or voicemails returned (78 per cent) • Not feeling like their needs are understood or met (67 per cent) • Receiving poorly written emails containing typos and grammatical errors (58 per cent) • Limited points of contact – no office line or address on their business card (42 per cent) • Feeling like they are too busy for a face-to-face meeting (34 per cent).

“There is no question that the use of technology and digital communications in business can significantly increase productivity and help fuel growth and expansion, said Marcus Moufarrige, Servcorp’s Chief Operating Officer “However, Australian companies could be putting future growth prospects at risk by using technology in isolation – it’s becoming the default rather than a complementary tool to support businesses in everything from communication to automation.

“It’s clear that maintaining a personal touch by being responsive, showing you have time for your clients and that you understand their needs is more important than ever. To do this, technology can actually provide a competitive edge by helping companies

Mornington

ART

to service clients more effectively – but it should not be at the cost of personal, one-to-one engagement.

Ultimately, like everything in business, there is a time and place for technology.”

When it comes to communication, email (91 per cent) now far outweighs face-to-face meetings (64 per cent) as people’s preferred way to keep in touch – with more informal text messaging (26 per cent) and social networking (10 per cent) also playing an important role in business communications.

Despite Australia’s sprawling economic geography, most business owners and managers also admit to actively avoiding interstate travel – with phone or video calls (54 per cent) and email (25 per cent) most likely to be favoured over making plans to travel for a face-to-face (19 per cent) when a client or business contact requests a meeting.

“While technology undoubtedly plays a critical role in helping businesses to grow and innovate, companies cannot let its potential benefits outweigh the risks of over-reliance and not using digital communications tools effectively,” Moufarrige said.

“Making time for your clients and providing that personal touch are fundamentals of good business, and we should be looking at ways technology can allow us to do this more.”

Asked why they now spend less time meeting with clients in favour of digital communications, business owners and managers cited a number of reasons: • Email is quicker and easier (71 per cent) • I can save money on travel (46 per cent) • Less face-to-face meetings give me more time at my desk to get work done (30 per cent) • Conference calls are more convenient (27 per cent).

GAlA openinG niGhT TickeTs: friday 17th January from 7pm presented by the rotary Club of mornington

Exhibition

18-27 January 2014

peninsula Community Theatre

Cnr Wilsons rd & nepean Hwy Mornington Open daily from 10am - 6.00pm For more information Peter lawrence 0418 361 001

www.morningtonartshow.com.au

Feature artist – Ian Johnston

TickeTs: Online at www.morningtonartshow.com.au Also AvAilAble fRom: Farrell’s Bookshop - Cnr Main & Barkly StrEEtS, MOrningtOn 5975 5034 Cameron’s menswear - 185 Main StrEEt, MOrningtOn 5975 7255

6 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/January 2013-14

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Doing a ‘Hunt’

Failure is an inside job: innovator

business chooses to fight back: MP Federal Small Business Minister Bruce Billson, speaking to the inaugural Frankston and Mornington Peninsula Biggest Breakfast series on 22 November: “The entrepreneurial eco-system has been a hostile place for many small businesses since the Howard government left office (six years ago) and we have to change that. This has directly impacted on our city, on our community and on our economy.”

But, he said, business people in the region were choosing to do something about it.

“This breakfast is a statement that we ‘The entrepreneurial need to do something eco-system has about it; the Shop Small been a hostile place campaign is a statefor small business’ ment that we need to do something about it.

“If you value strip shopping centres, if you value choice and innovation, customer service and the vitality of small business, put some of your hardearned into those businesses,” Billson said.

• MP backs retailers over online GST: P.11

Pillow talk Small Business Minister Bruce Billson has recounted a lesson he learned when he and his wife opened a business in Mornington.

“We sold for a very substantial loss, but we had a go,” he told a business breakfast in Frankston last month.

“I remember the $4667 monthly rent. Mornington Main St rents were on a par with rents at Southbank.

“We would go home at night and have that pillow talk about cash flow: to a young couple it was the greatest contraceptive ever invented.”

New name for city?

Frankston City Council will consider renaming itself City of Greater Frankston.

The move comes from former mayor Cr Colin Hampton who says the city is a collection of large villages – like Langwarrin, Seaford, Pines Forest and Carrum Downs – where some residents don’t see themselves included in Frankston.

“The name Greater Frankston would be more inclusive,” Cr Hampton said.

The name change, to be considered in the new year, would come at a cost because of the necessary rebranding.

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More needs to be done to teach resilience and break the stigma associated with failure in entrepreneurship, says Anna Pino, CEO of Lighthouse Business Innovation Centre.

“For anyone, not just entrepreneurs, failure is painful,” says Pino, whose business accelerator works with inventors, researchers and entrepreneurs.

She said most successful businesses will describe a journey filled with false starts, mistakes and lessons learned.

“The difference between those that pick themselves up, dust themselves off and do what has to be done very often comes down to attitude,” Pino said.

While you can’t control everything that happens to you, you can control your attitude and be open to learning from your mistakes. So, when you receive less than favourable feedback about ‘Fail early, fail often, but always fail forward’ your startup idea, your pitch session – author John C. Maxwell is a fizzer or your funding application is denied, these are some things to keep in mind: 1. Equip yourself by understanding what makes business ideas fail: There’s a lot of information about business models in books, online, at conferences and from expert advisors. There are also online diagnostic tools like Bizlab (http://bizlab. lighthouseinnovation.com.au/) that provide feedback on the strengths and weaknesses of your idea.

2. Redefine failure and success: Think of mistakes as lessons and just like in school, you get to repeat a lesson until it’s learned. Sometimes you need a painful wake-up call to learn the lesson, but you’ll know you’ve learned it when your actions change and you see new and promising results in your business.

3. Don’t be too quick to declare a failure – keep the bigger picture in mind: One of the biggest challenges facing startups with disruptive ideas is that initially nobody gets them. Be careful not to

judge a big idea a failure too quickly, look at initial rejections within the context of the bigger picture.

4. Both success and failure are a journey: The process of business success includes planning, informed decision-making, risk management and identifying opportunities. Equally, the process of failure involves ignoring the warning signs, failure to act, poor planning and insufficient risk management.

5. Mistakes are not a permanent stain: When you’re pushing the boundaries nobody gets it right the first time. Henry Ford had two business failures before he started the Ford Motor Company.

Being able to fail quickly and recover from setbacks is an important skill for entrepreneurs. Sometimes the best way to look at your business idea is as a collection of experiments – some will pan out and others won’t.

December/ January 2013-14 | Frankston / Mornington Peninsula / Dandenong | BusinessTimes | 7

NETWORKING gallery

1. James Eling, of Extreme Networks, Shanti Rodrigo, ANZ Business Banking Manager, Dandenong, and Tracey Montgomery, of Dyslexia Enhanced.

Photo: Daryl Gordon, 0412131492

2. Choon Kiat Ng, of Hurst Partners, business brokers and consultants, with Melanie Keenan and Robert Kininmonth, of Somerset Capital.

Robert facilitated the Four Decisions Executive Workshops at Narre Warren, sponsored by Extreme Networks and Business Times. Photo: Daryl Gordon.

3. Tina Eling (left), of Extreme Networks, Mark Peterson, of Marked Focus, and Nic Parsons, of Nic4bas, at the Four Decisions Executive Workshops. Photo: Daryl

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We build referral networks around your business and you benefit with  long  term referral partners that lead to business and profit growth.   Why not attend a meeting your local area where you can meet and  connect with other local business and see what opportunities await you  and your business.   For your nearest group see our website or call 9782 0555

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4. Tara Greaney and Rebecca Gagliardi, of Pitcher Partners at the Biggest Business Breakfast sponsored by Frankston and Mornington Peninsula councils as well as Monash University and Frankston Business Chamber.

5. Breakfast guests Douglas Spencer-Roy, Strategy and Marketing Manager at ConnectEast, with Shane Wakelin, of St Kilda Football Club, and speaker Phil Martin, Manager of the Government Relations Office of the AFL. 6. Bruce Billson, MHR of Frankston and Mornington-based seat of Dunkley and Minister for Small Business, was the principal guest speaker.

7. Guest winemaker Ros Ritchie with Hugh McLean (left) and Terry Saddington at Frankston Wine and Food Society’s third luncheon at The Gallery Bar and Grill@Manyung on Wednesday, 30 October.

8. Mt Eliza Networking Group took a cruise for its annual break-up.

Pictured are Ian and Trish Brumley.

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9. Anita Hilet and David Hilet, owners of Galaxy Print and Design, Hastings, at Frankston’s first Long Lazy Lunch on Frankston Park Oval. (Report P.16) 10. Frankston City mayor Darrel Taylor with Amanda Stapledon, deputy mayor of the City of Casey.

11. Frankston City CEO Dennis Hovenden and his wife Susan.

12. Asian Pacific Group marketer Palatina Negara (left) Mark Engwerda and Raffaela Del Mastro, of Belmar Property Group.

13. James Morrison with musicians from Frankston High School, performing at the Long Lazy Lunch.

14. James Morrison with (from left) form Frankston City mayor Sandra Mayer, Casey Council deputy mayor Amanda Stapledon and Frankston councilor Suzette Tayler.

15. Peninsula Business Network Christmas break-up was held at Morning Star Estate on 3 December.

Pictured are Luke Dowdle and Melinda Ryan, of Nepean Planning Consultants.

16. Also at Morning Star were Karen Watson. of Quest Apartments, Frankston, with Gillian Thompson, business development and marketing manager for Frankston Arts Centre.

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Latest Networking Galleries

December/ January 2013-14 | Frankston / Mornington Peninsula / Dandenong BusinessTimes | 9

NETWORKING

What motivates people in referral relationships?

Why did you get out of bed this morning? What made you wear those shoes today? What has you going 75 mph in a 55 mph zone? What makes you attracted to that particular businessperson?

What makes you choose to go to that networking event? Why did you want to talk to that person and stay away from the other one?

The simple answer is…motivation.

Motivation can be very tricky to understand. Humans are incredibly complex on one hand, but on the other hand so easy to figure out when you understand behavioral styles.

When you think of what motivates you, it can be a multitude of things. Some motivation is a temporary situation. Say you’re a business owner, but you don’t enjoy numbers or accounting. However, if you don’t bill your clients, you don’t get paid. You may be temporarily motivated to do the accounting necessary to make sure you do.

However, if you thought about a career in accounting, it would make you sick to your stomach. Many people make an incredible living in this profession, so obviously you wouldn’t die if you had to do that forever.

But you are definitely not motivated to work with numbers on a regular basis.

The motivation that I would like to discuss now is the “how you are wired” variety. It’s a motivation that may have been with you forever.

If you’re a parent, have you ever noticed that your children are “wired” differently?

Did you notice what motivated them before

Dr lvan Misner*

Networking specialist

Understanding someone else’s motivation can give you unique insights while developing a relationship. they could even speak? Did they want independence or to hold their own things?

At times did they seem to not need you?

Or maybe your child had a knack for taking stuff apart and putting it back together, had to have 12 toys to play with to be happy, or maybe they simply wanted time with you.

These characteristics stay with children as they grow into adults, and culminate into what my colleagues - Dawn Lyons and Tony Alessandra - and I call the Four Behavioral Styles that can affect one’s referability: • Go-getter - A hustling, enterprising, “get it done” type of person • Promoter - An active supporter, someone who urges the adoption of, or attempts to sell or popularise someone or something • Nurturer - Someone who gives tender care and protection to a person or thing, especially to help it grow or develop • Examiner - A person who inspects or analyses a person, place or thing in detail,

ONLINE...UP TO THE MINUTE Connect with decision-makers who are sourcing their goods and services online.

•Attractive rates.

•High traffic positions.

• • • •

while testing their knowledge or skill by asking questions The independent baby could be the Go-Getter. The baby who is taking everything apart and putting it back together could be the Examiner. The baby who has to have 12 toys to play with or they get bored could be the Promoter. The baby who just wants time with you to feel safe could be the Nurturer.

Again, these styles are lifelong. The independent baby almost always grows up to be an independent adult. The same with the other four styles. If you can recognise the behavioral style(s) of each of your important referral relationships, think of how you can motivate them to pass you referrals.

Now, I want to remind you of the fact that everyone is a blend of all four styles, with one or more usually being dominant.

So, it’s important to understand that the above example is not entirely clear cut. I just want you to start thinking about these four styles and how each is motivated very differently. It will allow you to see people in a different way, as it’s extremely helpful as you are deepening your referral relationships.

Understanding someone else’s motivation can give you unique insights while developing a relationship. When you add in being able to speak the same language as that person… now you have some magic happening, *Dr Ivan Misner is a New York Times bestselling author. He is founder and chairman of Business Networking International (BNI), the world’s largest networking organisation. Dr Misner is also senior partner for the Referral Institute, an international referral training company.

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retailing

MP backs retailers on GST for online sales

Bakery wins Dandenong retailer of the year Polish Rye Crust Bakery is the premier Central Dandenong retailer for 2013.

Hanna and Andrew Lipiszko, owners of the Foster St business, were awarded Dandenong Retail Traders’ Association Central Dandenong Retailer of the Year award at the association’s Christmas dinner at the Dandenong Club on Tuesday, 12 November.

“We bring a part of Poland to Dandenong by showcasing traditional Polish hot dishes and breads that are so popular back home and always with a smile,” Hanna Lipszko said.

Andrew Lipszko added: “We try to provide all of our customers not just with good and fresh food, but also with an experience that will make them want to come back to Dandenong for more.”

Dandenong shoppers were invited to vote for their favourite retailer and the five finalists were: A1 Bakery, Angie’s Massage, Efkas Cafe, Polish Rye Crust Bakery and Ritchies IGA Supermarket.

Polish Rye Crust Bakery was a nominee last year, too.

The Central Dandenong Retailer of the Year is an automatic entry in the Greater Dandenong Chamber of Commerce Premier Regional Business Awards. Polish Rye Crust Bakery joins the 2012 Central Dandenong Retailer of the Year Heidi Rose Clothing. Compleat Angler and Camping World in 2011 became the first dual winner.

Brown Gouge Dry Cleaning, Dandenong, won in 2010, following Rob’s The British Butcher in 2009, Austgold Manufacturing (2008), Crystal Nails (2007), Gemini Catering Equipment (2006), Compleat Angler (2005), Answers For Hair (2004) and Big In Black the inaugural winner in 2003.

Answers For Hair and Gemini Catering

ABOVE: Mayor, Cr. Jim Memeti (left) presents the Retailer of the Year Award to Hanna and Andrew Lipiszko. of Polish Rye Crust Bakery.

Equipment went on to win at the Premier Regional Business Awards and completed the treble by winning their category at the Australian Retailers Association (Victoria) awards.

“The award of the Central Dandenong Retailer of the Year brings extra prestige to retailers in Victoria’s largest shopping precinct outside of Melbourne Central,” Glenys Cooper, Dandenong Retail Traders’ Association Chairperson, said.

“The winner being an automatic entry in the Premier Regional Business Awards provides retailers with a stepping stone to some of the state’s most important business awards.”

The five finalists received a framed certificate, signwriting on their window congratulating the business (with permission), details and photograph in a newspaper advertisement regarding the award winner, acknowledgement in all press releases regarding the winners, and acknowledgment in Greater Dandenong Council’s business newsletter.

“We had an excellent response with a large field of nominations but when the votes were counted Polish Rye Crust Bakery was the overwhelming winner,” Glenys Cooper said.

“They are to be congratulated on receiving this recognition”.

The Chairman’s Award was presented to Georgie Mcleod who has stepped down after providing outstanding service to the DRTA executive and members.

Ms Cooper congratulated winners and acknowledged the City of Greater Dandenong’s support for the awards as well as also Sign-ARama, Dandenong, which donates the signwriting.

Small Business Minister Bruce Billson favours lowering the $1000 tax-free threshold on goods bought online from overseas companies.

Billson joins the growing voice of Australian retailers calling for a level playing field.

The same week the Frankstonbased MP addressed a home-town business breakfast, the National Retail Association lodged a submission with the Commission of Audit calling for shoppers to be charged GST on overseas purchases worth more than $20.

The new Abbott government cabinet minister said a business case for a reduced tax threshold on online overseas purchases would reach the government early next year.

He said the Coalition would be looking at both tax neutrality (“no free kicks” like the low value GST threshold) and tax efficiency (not spending more collecting the tax than the tax brings in).

“There has been an enormous increase in online trade, trending up at eight per cent a year,” Billson told the breakfast for more than 200 guests at Frankston Arts Centre.

“A lower threshold is something I would like to see.”

Internet: Billson said the region would get high speed broadband within three years with average download speeds of 50 megabits per second and minimum download speeds of 25 megabits per second.

Melbourne’s east-west tunnel: Billson said the debate was whether to put taxpayers’ money into the tunnel or a rail project.

“Both have great virtues, but we’ve chosen to put it into the (tunnel) that moves not only commuters, it moves commerce,” Billson said.

Small business: “Over the past six years Frankston City has lost a net 37 small businesses.

“Small business contributes about a third of the wealth that is created in this country but the number of small business across Australia has fallen by 3000,” Billson said.

• See Networking Gallery: P.8-9.

December/January 2013-14 | Frankston / Mornington Peninsula / Dandenong BusinessTimes | 11

COVER STORY: PENINSULA hot springs

A life in hot water can be a good thing Charles Davidson talks about how his inspiration led to a mult-million dollar lifestyle and tourism enterprise.

BY KEITH PLATT

The comfort of a hot spring in Japan provided the right environment for Charles Davidson to spawn a good idea. Lying back reflecting on his good fortune and enjoyable job, Davidson wondered if there could be a more satisfying career. A plan evolved as the realisation dawned on him that he was surrounded by his future: water warmed and mineralised by the earth. Nothing seemed better to him at that moment than being able to sit back and reflect and relax.

“What could be better than spending your life putting people in a pool for a relaxing experience,” Davidson says, reflecting back on that day in 1992.

It took time, but Davidson, through a sequence of coincidences – “synchronicity, really” – is now able to do business from the comfort of a hot spring with the added satisfaction of having his own spring, Peninsula Hot Springs, near Rye. The business has 210 staff on its roster, making it the second biggest private employer on the Mornington Peninsula (only BlueScope, at Hastings, has more employees). Davidson is proud that the hot springs has provided employment opportunities for young people on the peninsula, especially young women.

Reluctant to provide income details, Davidson volunteers, “our turnover is as much as Phillip Island’s penguin parade, and we’re still in our early stages”. (The penguin parade gets about 700,000 visitors a year.)

Having established a thriving business (along with his brother Richard and partners Bruce and Norm Cleland) Davidson wants to see an Australian industry based around hot springs.

In early October he was at the Global Spa & Wellness Summit in New Delhi, India, (sharing

the stage with the Dalai Lama) and last month was speaking with indigenous leaders in northern South Australia about traditional practices relating to the sustainable use of hot springs on traditional lands.

He wants to develop a hot springs culture as exists in many overseas countries, but based on the “Australian experience”, not just copied from Europe, Japan or even New Zealand. It was 1992 when Davidson first thought about introducing Australians to the hot springs experience, but his initial investigations put a bit of a dampener on his idea.

“I was told by a Japanese geologist that there were no springs here because it was such an old continent, worn down by time and with no active volcanoes.”

Accepting of the answer but never giving up on the idea, Davidson continued working in Japan both for the Australian embassy in Tokyo and the giant Mitsubishi Corporation.

It was a dream job that he virtually stumbled into after completing a commerce degree at Melbourne University.

He had first walked into the Melbourne offices of Mitsui, another global Japanese firm, but was ticked off by its employment officer for seeking an interview without an appointment.

12 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/January 2013-14

Charles Davidson has a vision for an Australian hot

“So I jumped on a tram and went to Mitsubishi, a company that at that time had larger exports than BHP.” After being given a job in the Mitsubishi’s food and wine department Davidson was on his way to becoming an international businessman, learning to speak Japanese and rubbing shoulders with exporters and trade officials.

It was clear his future would be divided between Australia and Japan where he went to work and study on a federal government Asia-Pacific fellowship. This was strengthened when he married his Japanese-born wife, Yuki, who he met while she was working for the Australian embassy in Tokyo.

Having an after-work drink with Victoria’s Tokyo representative five years after his “epiphany” at the hot springs in Kusatsu, Davidson learned that the state’s minerals and energy department had discovered hot water deep underground.

One government test bore had revealed a thermal water source near Rye on the peninsula, a familiar area for Davidson, whose parents had owned a farm at Merricks North, where he spent holidays and weekends as a child.

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n hot springs industry and international understanding through hot springs.

The family’s connection to the peninsula go back to the 1840s and The Briars homestead at Mt Martha. Davidson’s father, Rodney, is a former National Trust chairman (The Briars is heritage listed). His mother Marion is a direct descendant from Dame Mabel Brookes, great grand daughter of Alexander Balcombe, who named the property after The Briars on the French Island of Saint Helena, once used to house the exiled Napoleon.

The existence of hot water under the peninsula and his familial links to the area convinced Davidson of his future.

His brother Richard (then a partner in a florist business in Collins St, Melbourne) was quickly on board, followed by investor Norm Cleland and his brother Bruce, a “silent” partner. Former Mornington Peninsula Shire mayor, Bill Goodrem, introduced the Clelands to the Davidsons.

The first of many “stepping stones” leading to the opening of Peninsula Hot Springs in June 2005 was buying the 17 hectares of land that Davidson knew was above the subterranean store of hot water.

Then came the decision to leave the role of international businessman and open Mizu Spa, near the hot springs property, as a trial and to

provide an income for his growing family.

The hot springs is a staged development that Davidson says has more or less followed the initial business plan.

One major setback came early. Hiring a contractor to drill down 640 metres to tap into the hot water delivered development lesson number one: if the machinery operator doesn’t turn up to work regularly the bore is not going to be dug. The quoted three-month job took 18 months and led to the loss of initial investors.

The water – 54 degrees at the bottom, 47 at the top and 38-43 in the hot springs ponds – came within nine metres of the surface under its own pressure, allowing work to finally begin in earnest above ground.

The “year or two” the partners thought would be needed to build the first stages of the hot springs project eventually blew out to five.

It had taken eight years by the time Davidson knew he had finally realised his dream and then Acting Premier John Thwaites came along to open Peninsula Hot Springs on 28 June, 2005.

Although there are some stages yet to be built – “we’ve spent $20 million plus with another $40-50 million to go” – Davidson sees the hot springs experience as “Australian,

embracing the unique coastal flora and fauna of the peninsula’s Cups area”.

Peninsula Hot Springs has several “bathing experiences” including a Turkish steam bath (hamam), reflexology walk, sauna, cave pool, massaging thermal showers and a hilltop pool with views.

“We try to be global in approach,” Davidson says, believing Australia’s multicultural society will appreciate a mix of bathing styles “inspired by cultures all over the world”.

“It is one of the few activities families can do together, we often see up to four generations here together. During the week we have university students and younger kids here. It’s a social activity that doesn’t involve drugs or alcohol.”

The next development stage involves building accommodation cottages around wetlands and a bird sanctuary as well as a health and wellbeing centre.

“We have a permit for 126 rooms, but we’ll probably bring them in gradually – along with another 1000 other ideas,” Davidson says.

One of those ideas is the Peninsula Explorer, a 45-minute hop-on hop-off circuit bus service stopping at various sites and tourist enterprises, initially around the southern peninsula.

Davidson first floated the idea in 2007 thinking its not-for-profit base would have been a “no brainer” to attract council support.

This time around he has commercial partners, including Driver Group Australia, Bunyip Tours, Searoad Ferries and the Portsea Hotel.

He hopes open topped double-decker buses will be on the road by October 2014.

The $300,000 plus buses will be imported from China or England (“which I prefer”) because they are not built in Australia and, if they were, would cost about $700,000 each.

Another idea is more global: helping undeveloped countries develop a hot springs industry “which, in Africa, can offer an alternative [income source] to poachers”.

After a walk around the pools crowded with Saturday afternoon bathers, Davidson readies himself for another meeting before closing his “office”, a laptop computer, and returning to his family in Tokyo.

Instant telecommunications have enabled him and his family to spend a year in his wife’s country … when he isn’t overseas researching hot springs and adding to his list of 1000 ideas.

“Rather than compete, we [hot springs around the world] are learning to cooperate and build a community based on quality and knowledge,” Davidson says.

“International understanding through hot springs is one of our company’s and my life goal.”

December/January 2013-14 | Frankston / Mornington Peninsula / Dandenong BusinessTimes | 13

manufacturing

Foam makes firm backbone for building There’s a glint in his eye and a slight curl to his mouth.

“I especially love it when Carlton supporters come in here,” Tony Russo says, turning his chair towards a framed picture hanging on the wall behind his desk.

The meaning would be lost on anyone without some knowledge of the tribal allegiances of fans of Australian Rules football and Victorian-based teams in particular.

The picture shows grinning Collingwood players, traditional and unapologetic foes of Carlton. The rivalry goes back to the historic fan bases of the two clubs: working class for Collingwood and upper middle for Carlton. For Russo, it’s a laugh. A footy joke that probably breaks the ice for business associates making the trip to his Mt Eliza office. Finding the office, above and behind a row of shops, is another matter.

The office, which includes a showroom, is the commercial face of Russo’s MultiPanel business. The factory, which produces sheets of the company’s highdensity polyurethane foam building panels, is a few kilometres away at Carrum Downs.

The necessity to keep the exact nature of the production process a secret leads Russo to rule out a visit to the factory.

A former builder and plumber, Russo still renews both licences but now concentrates on marketing MultiPanel, “the first waterproof building panel – it’s not just water resistant”.

“I‘ve been self employed since I was 19,” he laughs.

“I’ve never had a job [working for someone else]”.

Years spent carrying and fitting heavy wall panels that needed waterproofing led him and his cabinetmaker brother David to start researching a viable substitute.

They hired an industrial chemist who came up with the “secret formula” and then had machinery built to make sheets of MultiPanel foam.

The industrial chemist (one of nine employees) is still with the Russos and is their supplier of chemicals.

“We spent five years researching and developing an 1800 by 900 panel and then the market told us to make a 2400 by 1200 panel, which took another 18 months,” Russo says.

“It’s made from polyurethane and a liquid that turns into foam. There’s no rising and setting before it reaches the corners of the mould.”

There are now several sizes and thicknesses of MultiPanel products, which are 80 per cent lighter than other wall panelling.

“Chippies love it,” Russo says.

Although some panelling is cheaper, Russo says this is more than made up for in labour costs, including speed of installation and absence of any need for a waterproof membrane.

“Once installed, it’s finished. What can be done in a day takes three or four days with other, more conventional materials.”

Tony Russo, Magpie supporter and MultiPanel founder.

‘

The marine industry was the first big user of MultiPanel, mainly because of its lightness and ability to wrap around curved surfaces.

’

WORDS & PICTURES

BY KEITH PLATT

The marine industry was the first big user of MultiPanel, mainly because of its lightness and ability to wrap around curved surfaces. Glue on a timber veneer and the interior fittings of upmarket pleasure craft look expensive while being light, waterproof and save money on fuel, a major expense for the industry’s heavyweights.

“When the GFC [global financial crisis] came in 2008 the marine industry faded,” Russo says. “So we decided to get into the wet room areas and balconies of houses.”

Tests have been conducted to gain Building Commission of Australia accreditation for a MultiPanel shower base for domestic and commercial buildings.

“Eighty-three per cent of [building] warranty claims in houses relate to water damage,” Russo says.

Besides its lightness and being waterproof, MultiPanel foam can be easily shaped to follow curves and then painted, rendered, covered in tiles or laminated. It can be used as a base and then covered with tiles on balconies. Product literature produced by the Russos makes MultiPanel sound like a wonder material: waterproof; won’t rot; light; non-toxic; reduces noise; non-carcinogenic; can be used outside and inside; fire retardant; good insulation; cuts and bends easily.

The company produces an adhesive that will bond its foam to timber, plasterboard, metals, polyurethane, concrete, brick, melamine and some plastics.

Small wonder then that Tony Russo expresses amazement that so many builders are yet to appreciate, let alone use, his wonder product.

14 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/ January 2013-14

Builders installing MultiPanel sheets at a new McDonalds restaurant on Princes Highway, Dandenong.

One of the attributes of the panelling is hat it can be bent to wrap around curved surfaces.

items, including water-filled planter boxes, have been sitting for years on the deck outside his office, testament to MultiPanel’s endurance. While yet to bring on board the wider domestic market here in Australia, Russo is already trying to build on his company’s international reputation in the marine industry. Exports have been made to the United States, China, the United Kingdom, South Africa and the Middle East and he feels confident volumes will grow. Like his beloved Collingwood, Russo knows the flag of victory can only be hoisted after a well planned, sustained campaign.

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He has met hundreds of builders at trade shows where he goes to demonstrate the versatility of MultiPanel “but no matter how many I meet there are others coming up asking where have I been”.

Architects are picking up on what was first recognised by the marine industry: seeing the versatility of the foam and using it to more easily transfer their ideas into built structures. Arches have been combined with curved walls at a new McDonald’s outlet on the Princes Highway, Dandenong. There is a curved MultiPanel wall at the Glen Eira Aquatic Centre and Russo has photographs of many other projects where MultiPanel has been embossed to add interest to what would otherwise be soaring concrete walls.

The foam will be coated with aluminium and other “decorative metals” for the Australian embassy in Jakarta, Indonesia.

“It’s a real solution to the building industry’s water problems,” Russo says. “We could save the insurance industry megadollars.”

At his Mt Eliza home Russo has used the foam for garden walls, ponds and outdoor furniture. Similar

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community event

Long lunch gets thumbs up

We’re here ... to help you achieve your business goals.

Long Lazy Lunch guests bathed in sunshine on Frankston Oval by the bay.

If messages of congratulations are a guide, the inaugural Lazy Long Lunch at Frankston Park on 17 November was a resounding success. Organiser Proudly Frankston was swamped with positive messages after 360 guests relaxed in brilliant sunshine on picturesque Frankston Oval listening to jazz virtuoso James Morrison backed by bands comprising present and past Frankston High School students.

Morrison gave a music master class to the talented young Frankston musicians and rapt audience.

The celebrated trumpeter, composer and director played alongside, encouraged and praised the home-grown musicians.

Proudly Frankston president Alan Wickes described the day as “a celebration of the positives of Frankston”.

Guests included the new mayor of Frankston Cr Darrel Taylor, councillors and Frankston MLA Geoff Shaw. Ritchies supermarkets’ boss Fred Harrison hosted the afternoon.

Wickes said the goodwill from people “in and outside our city has been a real bonus and very rewarding”.

In thanking Frankston High School principal John Albiston, the music teachers and the band members, Wickes said: “The contribution made by your students and alumni was outstanding. The feedback we are receiving daily reinforces the wonderful entertainment … I suspect there were many very proud parents and siblings joining in the standing ovation at the conclusion.”

Messages received immediately after the event included: Fred Harrison, Ritchies CEO and Master of Ceremonies: One of the very best events to happen in Frankston in a long time. Great to see some of the stalwarts of Frankston there on the day.”

Bryan Mace, Operations manager, Frankston Football Club: “A lot of hard work and mind-blowing organisation but well worth it in the finish. In all my years in Frankston, I thought it the best ‘good feel’ day I have been associated with …”

Geoff Shaw, MLA for Frankston: “Great work Sunday. Fantastic event. Stirring speech, too, Alan. Good on you. Please pass on my congratulations to Fred Harrison and the team.”

Jonathan Reichwald: Business Development Coordinator, Frankston City Council: “Congratulations on a simply magnificent day yesterday ... it couldn’t have been more perfect. We had a wonderful time as did everyone else on our table.”

Prinicpal sponsor South East Water has committed support for two years. Other sponsors were Frankston City Council, Peninsula By the Bay, Best Western Frankston International, Core 24 Fitness and James Crowder’s Community Real Estate. The event raised money for Menzies Caring for Kids, Frankston Homeless Support Services, Peninsula Home Hospice and Peninsula Health.

• More pictures: Networking Gallery, P.8-9

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16 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/ January 2013-14

news & contributions

‘CONVINCER’ STRATEGIES EXPLAINED

by Beverley Unitt* We all run multiple meta programs which is fancy jargon for the filters our brain uses to help us determine how we sort and make sense of what we experience and how we determine our focus direct our attention.

The term Convincer Strategy is one of our meta programs and it relates to the filter and pattern we use to make a decision. We all have this filter and we use it before we say ‘yes’, before we commit, before we go ahead with an offer.

When you understand the three main Convincer Strategies, it suddenly becomes clear why a potential client said “I’ll think about it” or “I’ll get back to you”, or why that very same sales chat resulted in another person instantly saying ‘yes’.

Knowing about Convincer Strategies should make you re-think your marketing materials, your marketing frequency and your decision to be a master of communication with your clients.

Put simply, there are generally Automatic

Convincers, Period-of-Time Convincers and Three-to-Five-times Convincers.

If we consider potential customers as a total pool, the percentages would look something like this: • 14 per cent are Automatic Convincers, with criteria. They will say ‘yes’ to you if and only if your product meets the results and outcomes they are after.

• 35 per cent are Automatic Convincers based on an emotional decision that it ‘feels right’ to them. These people also respond strongly to testimonials or ‘who else’ uses this product.

• 35 per cent are Period-of-Time Convincers. During that period of time needed to make up their mind, they are checking in with themselves, subconsciously, do they feel secure and comfortable about this decision they are about to make.

• 16 per cent are Three-to-Five-Times Convincers. They need to see it, hear it, check in their feelings about it, and will often be the ones who are doing the research into you. Their decision is factual, not emotional.

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So now you know why a one-off ad, or a once done letterbox drop, doesn’t necessarily make the phone ring. A good 51 per cent of people, who could potentially buy your product, are not automatic convincers! *Beverley Unitt is a qualified NLP Master Practitioner, an NLP Trainer, and an eDISC Trainer. Website: bev@beyousuccesscoaching. com.au or 0402089988

FORMER MP GETS BANK ROLE Carrum Downs Community Bank has appointed former Liberal MP Gary Rowe as business development manager. Rowe is a City of Casey councillor and former Gary Rowe chairman of Carrum Downs Community Bank Branch for 13 years, was MLA for Cranbourne from 1992 to 2002. He will be based at the Marriott Waters branch of Bendigo Bank.

Call him on 9799 0344.

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December/ 2013-14 | Frankston / Mornington Peninsula / Dandenong BusinessTimes | 17 Accounting team members - Jason January Beare, Dereen Wallace, Amy Bignell and Irena Lioudvigova.

HEALTH

How to be a Time Lord Every year a vivid memory of my school days comes flooding back: that exhilaration of waking up on the first day of summer holidays. It was a heady mixture of relief and anticipation. I’m sure this was a common experience –a Get Out of Jail Free card, redeemable for six decadent weeks. Birthday aside, it was the greatest day of the year.

It marked the end of stultifying December afternoons sitting in portable classrooms, willing the second hand on the wall clock to move, while suspecting that the oppressive heat and stifled sighs of 32 bored pupils had drained its battery.

Stretching into the immediate future was the glorious vista of holidays – with the delicious bonus in the middle of Christmas (maybe this year I’ll get a bike).

Yes, the summer holidays lasted only six weeks, but on day one that seemed like an eternity. The next school year was so far away it was like a foreign country, too distant to even enter your consciousness.

I also remember the brilliant blueness of the summer sky, and the “High” on the TV weather map that sat unmoving over the entire continent for days. Those hot spells were relentless. Summer was endless. At least that’s how it is in my memory.

A paradox of life is that the very young can’t wait to be older, while the very old wish they were younger. The universal experience for those in between is that the older you get, the quicker it goes. (Hasn’t the year just flown?) Of course the relative speed of time is all about perception. When we are young

Michael Ellis*

Chinese Herbalist

Consider learning a language.

Sign up for guitar lessons; try a meditation class. Do anything, as long as it’s new. and experiencing things for the first time, our brains are continually creating new neural pathways, storing away these initial memories.

When we recount these experiences, they are full of rich detail, not just visual but also replete with smells (the dunes, the wattle), tastes (watermelon, shortbread, mint leaves) and even a sound track (cicadas, waves on the sand, cricket on the radio).

So, recalling the timeline of our lives, our perception is that these experiences lasted a relatively long time.

However, as we grow up and start to repeat experiences, the neural pathways are already laid. We may re-use them, but we don’t enrich them. So when we think about more familiar experiences, our memories recall nothing new. In retrospect, these expe-

18 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/ January 2013-14

riences take no time. They have “flown”.

As we got older, our lives become routine.

This starts with school and evolves into work and even our recreation. So our brains get lazy.

What are you doing this summer holiday?

Camping at the same place again? For your brain, soon enough it’s Groundhog Day again. In the memory, last year merges with the one before, and the one before that, and before we know it … wow, can’t believe we’ve been coming here for 32 years. Hasn’t the time flown?

Have you ever been driving your car along a familiar route and suddenly shocked yourself with the realisation that you don’t remember driving that last stretch of road.

You weren’t paying attention. You “blanked out”. That’s because you drove in remote control. So familiar was the task that your brain got occupied with other distractions.

Now you have no memory of that drive.

Those few minutes of time have vanished.

A similar thing happens in the other areas of our lives. Once things get routine, time speeds up.

So here is the big secret to slowing time back down again: buy yourself a Tardis.

No wait, that was a joke. It’s this: pay attention. I don’t mean just to driving the car, but giving your full attention to everything you do. Be conscious of the small things – really see the sights, hear the sounds, smell the roses, taste the tastes. That’s what fires up your neurons. It puts your mind fully in the present moment. The more “present” you are, the richer your experience is, the more time slows down for you.

The second secret is to bring some new experiences into your life. OK, it’s kind of nice to have camped on the same site at Rosebud for 32 years, but can you make this holiday different enough that your memory can distinguish it from the 31 previous holidays? If successful you will know when you get home, when you get that “seems like we’ve been away for ages” feeling. Then you’ve got the time equation back in your favour.

That takes care of the holidays. As for the rest of the year, think of something. Consider learning a language. Sign up for guitar lessons; try a meditation class. Do anything, as long as it’s new.

Then you can be a Time Lord. *Michael Ellis is a registered Chinese herbalist in Mt Eliza. Visit www.mtelizaherbal.com

MARKETS

The long tale of Silex Systems In 1995 a small research team funded by Sonic Healthcare proved it was possible to consistently separate two almost identical forms of uranium. A highly concentrated beam of light was directed at a gaseous form of uranium.

As the laser was tuned to the frequency of U235 – the unstable variant of the uranium atom – some absorbed the energy of these pulsed photons. This “excited” the isotope drawing it to a negatively charged collector plate. By repeating this process the gas could be “enriched” building the amount of U235 from .7 per cent to 4-5 per cent or more depending on the requirement of each reactor type. As seven other research teams had spent several billion dollars over the previous decade attempting to do the same thing, this ranked as one of the more significant achievements of the post industrial age.

It meant that the energy and capital required to concentrate the U235 isotope to drive the world’s reactors would be just a fraction of the cost of the prevailing methods. The cost was potentially so low that it could also mean that stored tailings from the enrichment process and from nuclear fuel rods could be re-processed with the valuable isotopes used while the toxic long-life isotopes could be isolated and removed.

Now, 20 years since the founders of Silex Systems set up their laser equipment at Lucas Heights, the technology is in sight of commercialisation for both natural uranium ore and processed material. Silex is also liquid with cash and receivables of $80 m. or 20 per cent of market valuation following rights issues and receipt of milestones from its licensing agreement with GE, Hitachi and Cameco, its development partners.

As the Global Laser Enrichment alliance

Richard Campbell* Stock Analyst

(GLE) these three have completed nearly five years of tests at GE’s turbine manufacturing campus in Wilmington, North Carolina and won all regulatory approvals.

A month ago GLE was granted control of the Paducah, Kentucky enrichment complex that for more than 50 years supplied much of the enriched fuel for the USA’s 100 civilian reactors and a similar number of reactors for its subs and nuclear powered carriers. On site at Paducah are 15,000 tons of uranium tailings which still contain vast amounts of U235 at low .2 to .3 per cent concentrations. The laser method is apparently so efficient this is still a $3 billion windfall for the partners and Silex. For shareholders who have stuck with Silex for many years, but witnessed the price steadily fall as the commercial phase drew closer, these developments are at least some vindication. They will in time receive a royalty stream from enriching natural uranium, but also royalty streams from Paducah’s and other stored enrichment tailings. Since the royalty will be no lower than seven per cent and as high as 12 per cent on the gross revenue, the cash flowing into Silex down the years could swell to very large figures. The global market for enriched uranium is $6 billion a year with prospects of doubling as the global population grows and as hundreds of millions more

expect the high energy life style of the West.

Since the royalty is perpetual it also means that so as long as conventional reactors are used to provide base-load power, Silex shareholders will receive income.

This raises a critical point: will nuclear power expand, shrink or remain stable?

Projections need to start from the assumption that power demand globally will rise by 40-50 per cent over the next 25 years.

The next question is whether the 50 or so reactors under construction will be the last hurrah for nuclear power or the beginning of a new phase as the safety and waste issues of nuclear power are fully dealt satisfied.

Freed of these shadows, the efficiency of nuclear energy is inarguable. One kilo of coal produces 12 kw/h. A kilo of uranium produces 45,000kw/h. But it is still too soon after Fukushima to talk of a second nuclear renaissance. Only two Japanese reactors are operating while Germany and several other European countries intend to phase out their reactors, even though a dozen countries are planning construction of 50 or more. This number may accelerate because in the background, haunting us all, is rapid on-set climate change with its calamities like Sandy’s destruction of 340,000 New Jersey homes and Haiyan’s thousands of dead and four million homeless. One final insight may play into decisions for and against Silex as an investment. When Rear Admiral Sam Locklear took command of the US Pacific Fleet earlier this year he was asked what he thought was the greatest challenge he faced.

His answer was “climate change”. * Richard Campbell is Executive Director of Peninsula Capital Management, Tel. 9642 0545. rcampbell@peninsulacapitalmanagement.com.au

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Free helpful hints available online! www.smartbusinesssolutions.com.au December/ January 2013-14| Frankston / Mornington Peninsula / Dandenong BusinessTimes | 19

What is a hashtag? It’s one of the most Jessica Humphreys* common social media questions. And Social media consultant the immediate follow-up is why should I use one? Hashtags started on Twitter and are used on multiple platforms, most recently Facebook.

Hashtagging a word means it hyperlinks the term and becomes a searchable term. If you click on a hashtag on a supported social media platform you will see every post come up with that hashtag in real time.

The advantages of using hashtags means your post has increased visibility – your followers and anyone who searches that hashtag will see your post.

Hashtag tips: • Only use hashtags that are relevant to your business.

• Hashtag key terms. Create your own hashtags for your business. For example, I could hashtag #socialconcepts • Develop interesting hashtags for competitions. It’s okay to ask people to tweet or post with a specific hash tag. It makes it easy for you to track who is talking about the competition.

• If you want to hash tag two words, such as social media, don’t leave a space between the two words. If you want to differentiate the two words use capitals.

• Don’t use punctuation in hashtags. Numbers are supported.

• Don’t use too many hash tags at once. How many really varies

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hashtags CAN INCREASE YOUR ‘SOCIAL’ VISIBILTY

20 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/ January 2013-14

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CONTRIBUTIONS

depending on the platform you are using and on a matter of opinion. On average I use between five and 10 on Instagram, and between three and four on Facebook and Twitter.- • Check what hashtags are trending. This means hashtags that are currently gaining a lot of momentum. You can check what is trending on Twitter through the tool bar on the left hand side. On Facebook it’s on the top right hand side of your news feed and for Instagram, I suggest using a third party site webstagram.com to identify popular hashtags. You can also use the website hashtracking.com which has a free and paid for service that allows you to track hashtags. *Jessica Humphreys operates Social Concepts, a social media consulting business. Send questions to Jessica@socialconceptsconsulting.com

EXCEL IS YOUR DATA HUB PAR EXCELLENCE Excel has been around for more than Neale Blackwood* 25 years and is continually being Business software specialist upgraded. Being so up to date means it has many features that can help you to understand your data. The term “big data” is thrown around a lot these days. It typically involves huge data sets from large organisations. Big data aims to combine data from different sources, to identify relationships and trends. Hence Amazon can tell you that people who bought your book also bought these other books.

You don’t have to be Amazon to benefit from combining data sets. Excel is capable of extracting data from most systems, enabling you to combine your data into a single file. Excel’s charting ability means you can then create dashboards and other visualisations to enable you to see trends and spot relationships.

Database systems are usually separate and don’t always interface with other systems. Excel can operate as a hub between your systems. This opens up your data for better analysis.

The Data Ribbon tab in Excel holds all the options for extracting data. Initially, you will probably need to involve your IT people to get access to the data. Your data will be on secure servers and Excel will need to jump through a few hoops to get to the database. The good news is that once you have established a connection, reconnecting is automatic. Excel has a powerful feature called Pivot Tables that can summarise a huge data set without a single formula. However, it is limited to analysing one data table at a time. A new feature in Excel 2013 (latest version) called PowerPivot, takes the Pivot Table functionality and adds the ability to extract data from multiple databases. PowerPivot is available as a free Microsoft Add-in for Excel 2010.

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Springs Lane, Fingal p: 03 5950 8712 CITY AWARD FOR ‘GO AWAY MR WORRYTHOUGHTS’ Frankston City has won a silver achievement award in the Mental Health Promotion category of the International Organisation of Mental Health Services for the theatrical production “Go Away Mr Worrythoughts” by Langwarrin author Nicky Johnston.

(BT cover story, January 2012. www.businesstimes.net.au)

2010 2012 Victorian Victorian Tourism Tourism Awards Awards Tourist Attraction

2012 2013 Victorian Victorian Tourism Tourism Awards Awards Tourist Attraction

2010-12 Victorian Tourism Awards Health & Wellbeing

www.peninsulahotsprings.com

December/ January 2013-14 | Frankston / Mornington Peninsula / Dandenong BusinessTimes | 21

MANAGING

It’s a risky world out there Unfortunately, around 15 per cent of small businesses fail every year in Victoria. Interestingly, data shows that this failure rate is typical of small businesses in Australia and the USA. So what can owners of small businesses do to avoid failure?

Small business owners usually start with the germ of an idea that they develop into a viable plan, including a financial plan and an analysis of the inherent risks.

While this is a great start, it often is not enough to ensure that they can survive, even through the first year. Sometimes, the reality of their business is a long way from the initial concept and the business owner has to adapt and change the business to help it through this first phase of establishment. Risk management is a great business process that can greatly reduce the probability of underperformance and failure, particularly when it is recognised that risks should be identified as potentially having either a negative or positive impact on the business. Sometimes, it is the probability of positive risks that place the greatest stress on a business, for example, when a business has too much customer demand in its start-up phase.

Risks occur in virtually every aspect of business and they can be generally categorised in many ways, such as operational or strategic risks, financial or non-financial, and controllable or uncontrollable by business management. They can also be categorised according to the likelihood of occurrence and potential consequences. It is valuable to determine a risk analysis structure that suits your specific scenario and to then work through this structure to determine the best possible set of actions that you could take to mitigate your greatest risks.

Operational risks are generally well understood as they can be observed in daily activities and the business owner or manager is focussed on pre-empting these risks whenever they look like causing a business upset.

Strategic risks usually take more work to identify and mitigate. Large businesses have about half the failure rate of small businesses and one of the fundamental differences is that they usually do a better job with risk management, because they

Hamish Petrie*

Business Consultant

Large businesses have about half the failure rate of small businesses and one of the fundamental differences is that they usually do a better job with risk management... can invest more time and resources in identifying and managing their risks. In public organisations, risk management is a specific focus for both board members and senior executives, because there is a critical need to be able to demonstrate that they have been diligent in protecting the business from upsets and outside influences. Board structures and their processes are usually designed to focus on the specific risks that they consider to be the major ones that could reduce the shareholders’ value. These usually include such things as poor financial management, poor leadership, poor environmental performance, poor customer or public perception of the business. Boards normally set up a processes or committees that have specific responsibility to identify, monitor and manage specific major risks.

For example, audit committees have the accountability to ensure the integrity of financial reporting and compliance with legal and regulatory standards.

If you don’t have a board of directors, then it may be worth setting up a process, which synthesises the role of a board. This could be as simple as finding a few family or friends that you respect and trust, and asking them to become your “virtual board of directors”. This can start by simply asking them out for a meal each month, where the mealtime discussion is about your business challenges and risks.

They can contribute ideas and experiences and help you to identify potential actions that can reduce your risks. You can make this as informal or formal as it suits your

22 | BusinessTimes Frankston / Mornington Peninsula / Dandenong | December/ January 2013-14

group, but there may be some added value in migrating it towards being more formal over time. This will need you to do some extra work between your meetings, and you will need to give this a priority to ensure that you can sustain this process over time by showing your “virtual board” that you respect their inputs and are committed to integrating their ideas into your operations.

One specific aspect that is often overlooked is identification of specific strategic threats that could result in closure of the business. It is valuable to work out exactly what scenarios could develop to cause complete failure of the business. In this process, the first scenarios identified are often financial ones, like cash flow and profit, but it can be the non-financial threats that can provide early warning signs that the business is in trouble. Issues like customer satisfaction, product or service quality, environmental performance, or supplier reliability can often illustrate the early onset of a strategic risk well before there are significant financial indicators of the risk. Small businesses often fail because they do not invest enough time in managing risks, particularly when they allow their time to be consumed in just running the business day to day. If you are in this situation, then it is important to give a higher priority to managing your risks with an emphasis on the strategic threats that could result in your business becoming one of the casualties.

Action Planning Questions: 1. Do you have a process to identify major business risks, analyse and mitigate them?

2. Have you specifically identified positive risks that could place a major stress on your business?

3. Have you designed a process for a “virtual board of directors” to help you identify and analyse strategic risks?

4. Have you completed a “strategic threats analysis” including your actions to mitigate them?

5. Have you identified leading indicators for your major strategic risks? *Hamish Petrie had a 37-year corporate career including 25 with Alcoa Inc. His latest position was VP People and Communications for the Global Alcoa Corporation based in New York.

He can be contacted at hamish@nitroworld.net or on 0404345103. © Hamish Petrie 2013

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