Let’s Talk Business 1
Let’s Talk Business Back To Basics Business Solutions - Support for Small Business
Volume 2 Issue 14 - January 2014
Inside this issue
Cover Story - Finding New Opportunities, Products, Services
Finding New Opportunities, Products, Services
Web: www.marketingmeansbusiness.com
Email: dennis@marketingmeansbusiness.net.au
Business Snippets ...………..3
Your Business and the Community Dennis Chiron……………..4
Biz Tips For Small Business Dennis Chiron …………….5
The Tyranny of Email Dr Tim Baker …………..…6
6 Ways to Fight Distraction Geoff Butler ……………….7
How My Millionaire Clients are Different to My ‘Want’ To Be Millionaire Clients Dan Buzer ……………........8
Do You Owe The Taxman? Jo-Anne Chaplin ……….....9
Do You Own Your Domain Name? Karen Ahl ………………...10
Stop Interfering PeterNicol………………...11
Disruptive Incidents in the Workplace Ron Court …..…………....12
Live Long and Prosper Paul Gillmore ………….....13
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Let’s Talk Business 2
Finding New Opportunities, Products, Services
Bionic Ear
Sometimes there are ideas that hit us like a lightning bolt, but that’s as far as it goes. It’s a fact that most creative new ideas never reach the market place. Even in today’s “tricky” climate, business opportunities exist for the astute operator.
are essential to increase sales.
The small business owner who can arrange his / her commitments to either think through, or trial the options, plan new products, or experiment and work at anticipating shifts in consumer demands, is in a much stronger An opportunity is an exploitable situation competitive position - simply because or condition which the small business he / she can react much quicker to entrepreneur can turn into increased changes in the market place. sales, profit or competitive edge through Efficient small business management some marketing action. requires a quick response. An important aspect for growth in any Some ideas will win and some will fail. enterprise is to find and exploit new market opportunities. Even when This means that any experimental push business is good, there is always a need, into a new market must be planned to and there are always opportunities, to minimise any potential loss. seek out new markets and new ideas. There are always sources for new ideas New market opportunities spring from a and new opportunities. Whenever you range of possible sources and vary in see weaknesses or inefficiencies in the their size, importance, and risk. market, and you believe that you can Flexibility and the speed with which improve that weakness or inefficiency, changes can be put into effect is one of then you have found an opportunity. the key competitive advantages of the Many, many sources of ideas and small business. opportunities generate from existing Being flexible and willing to change is half the secret. Gaining experience in an field is a process of trial and error; and a common mistake is being too cautious to the extent that nothing ventured nothing gained. To survive in a competitive business environment you must be prepared to innovate and also take risks. In many ways the whole principle of investment in small business is a calculated and controlled risk.
products or services, and one of the most promising sources of ideas for new business comes from customers. Many successful money making ideas first arise out of a need by your customer . Listening to customers is something we should do continuously, in order to understand what customers want, where they want it, how they want a product or service supplied, when they want it supplied, and at what price.
The trial and error principle is especially important in marketing where new ideas Web: www.marketingmeansbusiness.com
Email: dennis@marketingmeansbusiness.net.au
Conversely, sometimes a company will develop a product and then try to generate a need amongst consumers. For example, we really had no idea that we needed a microwave oven or even an iPad, until we were told and shown that we did. The small business owner who does not evolve with the marketplace runs a serious risk of soon becoming extinct. Innovation needs to be high on the list of market opportunity for every small business. As a guide to where new opportunities may emerge, the entrepreneur should consider examining some of the following areas:
The Internet
Product advantage
Changing lifestyles of the market place and target market
Emerging technology
Market coverage
Discovery of new applications
Improvement facilities
Cost/price vulnerability
Retail and Commerce
Regional / local tourism
The “Grey” market
in
service
*This article is an excerpt from an article written by Dennis Chiron and printed in the Hunter Business Review.
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Let’s Talk Business 3
NSW Leads Manufacturing
equipment (+27%); and Child Care Centre (+21%). Industry Sector Decline
NSW manufacturers appear to be heading for a soft landing, and are leading their counterparts in every other State, according to the Australian Industry Group (AIG). An AIG / Telstra survey of Australian manufacturing found that NSW achieved stronger November/December/January trends than all other States, with 44% of companies reporting production increases and 27% reporting declines. The quarterly production and sales performances reported by NSW manufacturers were the strongest in twelve months. A Good Example of Bad Research The Pepsodent Toothpaste Company mounted an advertising campaign in South-East Asia, promoting pearly-white teeth when the user buys Pepsodent. It turns out that many Asians darkly stained teeth - particularly with women as being very attractive.
The fastest declining industries / products in Australia, according to the same Yellow Pages survey are: Arts and Crafts; Video recorders; Calculators; Dishwashing machines; Microwave ovens; Refrigeration equipment services, and Leather products. Chinese Coke Options Local soft drinks in China are gaining a greater market share while market leader Coca-Cola is losing ground, according to Market Research company Frank Small & Associates. Asian Media Magazine reports that the number of Chinese consumers who say they prefer Coke has dropped from more than 35% to just under 30% in the last year. In contrast, local brands are building up their own base of loyal consumers. For example, Asian Carbonated has increased from 4% to 11% in the last year. And On The Same Subject In China, the slogan “Come Alive With Pepsi”, translates as “Bring your ancestors back from the dead”.
Industry Sector Growth The fastest growing industries in Australia, according to a recent Yellow Pages survey are: Computer networking firms (up 48% in the last 12 months); Hot food shops (+ 35%); Arcade game suppliers (+39); Massage Therapists (+41%); Mobile phone outlets (+36%); Relaxation Therapists (+31%); Training organisations (+26%); Domestic safety
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Hearing Things A company in the United States is now producing cans of beer that actually talk. The cans tell consumers about real estate purchases, motor vehicles, and clothing. They even tell some lucky drinkers that they have won a prize and how to claim it.
Email: dennis@marketingmeansbusiness.net.au
Only In America! Free, 12 months Internet access is being given away as companies are rushing to link prospects and clients into the Internet. Hilton is leaving access disks on pillows in guests’ rooms; Volkswagon is putting them in the glove boxes of new cars; Time Inc. is inserting them into over 7 million magazines; and MasterCard International is mailing them out to all their customers. ATO Keeps Us On Our Toes A Beaudesert business couple received a strong letter from the Australian Taxation Office telling them they had not lodged a tax return for their business for over five years, and they were liable for fines up to $50,000 and 12 months’ jail. The couple were obviously concerned, particularly as they had only been in business for 12 months. After a call from their accountant to the ATO, it turns out that it was the old “computer error” story again. Wonder how the ATO would react if the shoe was on the other foot and the business couple had made the error? Lord Laurie Speaks Swimming coach and noted business speaker and motivator Laurie Lawrence was quoted recently as saying: “Perspiration is the lather of success”. Mobile: 0451 184 599
Let’s Talk Business 4 Dennis Chiron Marketing Means Business 0451 184 599 www.marketingmeansbusiness.com
dennis@marketingmeansbusiness.net.au Skype: dennis.chiron2
How does your business fit into the community? Is there a downside to usage of your product? Can the community be put at risk by using it? Carlton United Brewery (C.U.B) is spending literally millions of dollars on advertising urging to be responsible. It begs the question … is it all too late? There is a massive movement on now to try and prevent the “king hit” or the “coward punch” as it is more recently referred to - a violent assault fuelled by alcohol. McDonalds runs a lot of advertisements promoting its community work. Why? Because junk food is constantly being targeted by many pressure groups, including the Australian Medical Association (A.M.A). However, McDonalds is investing a lot of money in showing the general public that they have a social conscience. You’ve seen the CIG advertisements featuring clear, blue oceans and happy, playful dolphins, but did you know that CIG is the largest producer of Freon, the gas used in fridges and air conditioners? CIG is also, reportedly, a major contributor to the hole in the ozone layer. And how’s this for ethical business conduct. A multi-national diet company based in the USA, sold its entire mailing list of over 600,000 names to a direct mailing chocolate company for a reported $1.5 million.
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Your Business and the Community
Unethical? Or is it simply good business? We both know the answer to that one.
Letters to the Editor are most welcome
So, over 600,000 unsuspecting, diet conscious people are being invaded by junk mail flogging off chocolates. All of this without their permission or knowledge.
Please send you letters to
However, there is no law presently in existence to prevent it. … and even if there was such a law, how many large or multi - national firms seem to get away with doing whatever they want.? ADMA, the Australian industry body, has recently prosecuted two of its own members for unethical behaviour , but ADMA (and any other group) is severely restricted in their efforts to put the “baddies” out of business because of the limitations of the law. Between 1 July 2013 and 31 December 2013, the ACCC received close to 3,600 complaints from small businesses. This was an 84 per cent increase from the first half of 2013. Enquiries from small businesses also increased dramatically. Franchising complaints rose slightly from 286 in the previous period to 309 this period, while franchising enquiries almost doubled. ACCC Deputy Chair Dr Michael Schaper said: “The growth in complaints received by small businesses and franchisees reflects the need to educate and empower the sector.”
dennis@marketingmeansbusiness.net.au
that requires a complete rethinking of the functions of compliance, governance and social accountability, putting ethics into the daily vocabulary of mainstream management. “Australians are exposed to unethical business practices on both the micro and macro level, from the preference of cheap foreign workers over long standing Australian workers; the selling of Australian mines to foreign Governments; pollution cover-ups; insider trading; to the bribing of local Government councillors to approve developments that are not in the interests of the communities they represent. All of these examples have one thing in common; the use of economic rationalism and little consideration for social and cultural impacts as having a societal value.” Vivian Roberts “If you do not act with integrity … you are not likely to enjoy the kind of reputation that will keep good people in your employ, or keep customers coming back for your products or services.” - John Ralph.
The Institute of Chartered Accountants Australia argues that ethical conduct has moved front and centre as corporations are increasingly exposed to the glare of public scrutiny.
Nothing, it seems, will prevent the shonks from preying on the community, not even the law. The only long-term hope we have is that the public becomes more aware and educated, and starts to lobby strongly and vigorously against these predators.
In particular, there has been a fundamental shift over the past few years
Email: dennis@marketingmeansbusiness.net.au
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Let’s Talk Business 5 Dennis Chiron Marketing Means Business 0451 184 599 www.marketingmeansbusiness.com
dennis@marketingmeansbusiness.net.au
BIZTIPS
Skype: dennis.chiron2
Protect Your Business And Your Income How many small business owners take the step to insure their greatest asset - their ability to operate their business and earn an income? Most people don’t think twice about their need to insure their car, home or even themselves when they are travelling overseas. Think for a moment about how much you earned last year. Now total your income over the last five years, or since you started running your business. Quite simply, if you were to seriously injure yourself, and be hospitalised or off work for a number of months, or contract a serious long-term illness, your business could “fold” as a result. There are numerous insurance policies available for the small business owner, and if you are interested in learning more about appropriate coverage and policies, I suggest that you contact a local insurance broker who can offer you some sound advice. Preparing Your Business Plan “Not another article Business Plans”
on
Although a good business plan is vital to the success of your business, only about 17% of business owners throughout Australia actually prepare one. Why? All sorts of reasons are usually given, from: “It’s too difficult” to “I simply haven’t got the time”
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People often spend more time in planning for their annual holiday than they do in planning for the future direction and success of their business. So, what is a Business Plan? Simply, it is your Business Bible; your guide to success. The planning process allows you to put your ideas down on paper, and this becomes your Action Plan. Think of it this way: If you intend to visit an unfamiliar city, you would use a road map or a Sat Nav, check your current location, work out where you wish to go and how you are going to get there. Then you would use your map or Sat Nav to get you to where you wanted to go.
customers (both internal and external) has been talked about “until the cows come home”. But I wonder how many of us really appreciate the absolute importance of this practice. Your business will be successful if you devote time and energy to building customer relationships. The first step towards better management in this area is to identify and have a true appreciation of your weaknesses (and your staff’s) when dealing with people. The small business operator should vigorously look for areas where these weaknesses stop them from developing the best customer relationships.
A Business Plan serves a very similar purpose.
Once you have identified weaknesses, a major part of the process of overcoming them has been achieved.
Where are you with your business now? You need to examine your current situation, your resources, the size of your market, your customers and market share, your pricing structure, and your competition.
If you have difficulty in identifying any weaknesses - or perhaps you won’t admit it to them - ask your customers what do they believe you could do better to provide total satisfaction to them.
What objectives do you have for your business? Where would you like to be in 2, 3, and 5 years from now? How are you going to achieve this? What strategies will you adopt in terms of product development, marketing, finances, and human resources?
You will be surprised how helpful your own customers can be. Because they value the relationship that they have established with you, they will want to assist you in improving your customer service.
A Business Plan is not a document to be put aside for occasional reference. It should be used as a tool to keep your business on the right road to prosperity. Keep checking it to ensure you are heading in the right direction. Building Better Relationships The importance in building solid relationships with
Pay a visit to your competition, and evaluate what they are doing in terms of building better relationships. What are they doing that you are not? What are you doing right that they are not doing? Customer Loyalty is an important aspect of any business. Do it right and you have a customer for life. Do it wrong and they are gone forever.
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599
Let’s Talk Business 6
Dr Tim Baker
The Tyranny of Email
Managing Director WINNERS AT WORK Pty Ltd
www.winnersatwork.com.au www.about.me/tim.baker Telephone. +61 7 3899 8881
Editor’s Note:
on together and fired off an angry
With 1, 240 employees in this
Dr. Tim Baker is an international consultant, successful author, keynote speaker, master trainer, executive coach, university lecturer and skilful facilitator.
email to the other. He did this when he
company spending 22.4 hours of
could have simply got out of his chair
time on email and nothing else, that
and had a conversation with his
amounts to a total of 27, 776 hours
colleague to share his concerns. The
a week on email- related activity.
In a nutshell, he has conducted over 2,430 seminars, workshops and keynote addresses to over 45,000 people in 11 countries across 21 industry groups.
other
"“Dr Baker leads the world in offering an innovative new approach to appraising employee performance. His research and energy in the specialised field of performance management is evidenced by his international profile as a renowned speaker, management consultant and facilitator" . Stephen Hartley, Australia’s leading expert on project management and author of Project " Management: Principles, Processes and Practices.
Engineer,
very
angry
and
defensive about the email, fired off a
The average wage of a full-time
heated email response and copied in
Australian workers in 2013 was
the Project Manager!
$72, 800 per year. Therefore the average hourly rate for a 40 hour a
Back to the solution this company
week employee is $35. Based on
asked me to resolve.
these figures, email is costing this company $972, 160 per year.
I asked all 1, 240 employees to anonymously complete a single simple
I have no doubt that much of this
log for the week recording the amount
time was well spent.
of time they 'invested' in reading, writing and responding to email. I
But let's assume that we could half
collected the responses and calculated
that
How much time do you spend every
the average time per week spend on
protocol, that would save $486, 080
week attending to email? It's a question
email. Guess how many hours of time
a year.
worth answering. Although, I suspect
were devoted to this single activity for
What does it cost you each year in
you won't like the answer one little bit.
each employee?
your organisation to use email?
11.2 hrs!
This
I was asked recently to assist a company to curb their chronic addiction to email as its supreme communication medium. Here is a sad example of typical
Based on a standard 40 hour work
behaviour
week, that amounts to 28 per cent of
in
this
Australian-based
company.
the week. If we consider that while
figure
is
an
with
better
extract
from
Tim
Baker's newly released book - The End of the Performance Review: A New Approach to Appraising Employee Performance. Dr Tim Baker is an international
people are attending to their emails,
consultant who helps managers develop
Two Engineers working on a complex
they aren't devoting time to their core
productive workplace cultures. Tim
project sat in a cubic opposite each
tasks, we could reasonably double this
can be contacted at
other. The only thing separating them
figure. Accountants refer to this as an
tim@winnersatwork.com.au or go
was a partition. One of the Engineers
opportunity cost. Considering lost
to www.winnersatwork.com.au or
was upset with the other over some
opportunities, the time is really 22.4
follow Tim on
details in the project they were working
hours per week per person.
Web: www.marketingmeansbusiness.com
Email: dennis@marketingmeansbusiness.net.au
Twitter @winnersatwork.
(www.winnersatwork.com.au). Mobile: 0451 184 599
Let’s Talk Business 7
Geoff Butler FAIM AP, MAITD MACE Principal/Business Improvement & Implementation Specialist Business Optimizers Mobile: 0414 943072
Six Ways To Fight Distractions
Fax: 3036 6131 Email: geoff@businessoptimizers.com.au Skype: business.optimizers1
Time management is critical to business and personal success. Why is it that some people achieve so much in their day, and others seem to get virtually nothing done despite appearing to be very busy? Every day you expect to get everything done but halfway through the day you find yourself checking your email for the umpteenth time, looking at cat pictures on Facebook, and trying to tune out your co-worker’s loud conversations. You start the day with great intentions but did your productivity live up to your aspirations? Distraction is the primary killer of productivity. According to studies, workers are interrupted by distractions roughly every three minutes. It can then take over twenty minutes to get back to the task at hand -- and the things you think are helping your productivity might be having the opposite effect. Here are some tips that might help overcome some of these issues: Focus on you. Set aside quiet time in the mornings by showing up early and doing some planning, the quiet atmosphere will really help you focus. With less distraction you can focus on what matters and breeze through your most challenging projects. Don’t be Web: www.marketingmeansbusiness.com
afraid to shut your office door for a little peace and quiet. This allows you to centre yourself and focus more fully on work. Stop multitasking. You can either get one task done well or a bunch of tasks done poorly. Today we’re living in a multi-screen world and have become multitasking addicts. A study showed 66 percent of people use smart phones and computers simultaneously, while 90 percent use electronic devices sequentially throughout the day. Every time you stop a task to quickly check Twitter or answer a text you’re breaking your concentration. Put them on silent and give your full attention to your work for more productive results. Kick your email addiction. Are you really getting anything done if you stop your work every time another email pops up in your inbox? Schedule specific times during your day to check your inbox and only check it then. Your phone still works, so don’t worry about missing out on something important. Follow the 80/20 rule. Twenty percent of what you do produces 80 percent of the results. Cut the extraneous from your to-do list in order to get the most out of your efforts. If your list is too long odds
are you won’t get much done. Make it manageable and put the most essential tasks at the top. Focus your full attention on the top 20 percent of your work that will produce results. Make tough choices. If you know you’re a sucker for Twitter, it’s time to say goodbye - at least temporarily. Shut out distractions by being tough with yourself. You know your weaknesses - whether it’s messaging with friends or looking at baby animals. You’re the only one who can manage distractions during your workday. Skip social media and pick up the phone. Sometimes the quickest route to information is to just pick up the phone. Typical employees send about 43 emails per day and receive a whopping 130 messages. Instead of wading through a never-ending deluge of emails, picking up the phone can sometimes be a faster and more personal way of getting the information you need. Not only will you be building connections with your co-workers, you’ll be cutting down on your inbox. It can feel impossible to cut out distractions and get back on track but productivity is right around the corner. Just learn how to say goodbye to distractions and get focused.
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599
Let’s Talk Business 8
Dan Buzer Profit Mechanics
0414 567 188 www.profitmechanics.net/ dan@profitmechanics.net
“… How My Millionaire Clients Are Different to My ‘Want’ To Be Millionaire Clients? …” I spent an intensive ½ day with one of my millionaire Clients last week. After our meeting I offered to drive him over to another of his business sites. On the way back to my office I took a moment to think about how he and my other successfully wealthy Clients are different to my not so wealthy Clients. Here’s what I came up with …
They’re not big users of Facebook, Twitter, Pinterest and other social media tools. They have people manage those tools for them (very well), but are not into it themselves. They’re prolific uses of the phone, as are their friends. Their phones are almost constantly ringing. They use emails to help lead into conversations on the phone (which lead to business), to transfer information and to have documented records. They spend their lives ‘solving problems’. Nearly every word out of their mouths revolve around identifying, solving or reflecting on the solving of a problem of some kind. Problems with tenants, staff, sales, marketing, cashflow, supply, product quality, efficiency, etc. The number one difference!? They are PRODUCTIVE! They generally hate (and I know that’s a strong word) wasting time on fluff, crap and maybe’s. They mean what they say and get
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things done. If they need more sales, they go and get them. Full stop! Lastly, they love leveraging by using experts in their field. They don’t see it as a cost if the expert gets them the results they want.
My millionaire Clients are also passionate! They generally love what they do. They’re products and services are an extension of them. They’re busy people, but they don’t see it as work. If they didn’t work in/on their business, they would be busy doing something else. They are also forward thinkers, community aware and family conscious. Some of my Clients could comfortably (very comfortably) retire and live off their current income streams. However many of them are driven by the idea of leaving a legacy and an ongoing opportunity for their family, employees and even their suppliers & customers. My ‘not so financially successful’ Clients have some commonalities as well …
They often get distracted by bright and shiny objects, new ways of doing things and promises from other people who are not successful. They don’t know how to accurately measure where they are in terms of what results
they’re aiming to get, what they’re progress is to achieving results and how to get back on track quickly without losing momentum. They use their time to save money, rather than use money to save time. They see spending money as a risk because they often don’t have past experience to learn what to spend money on. They sometimes get distracted from the ‘learning experiences’ on their journey to getting the results they want. I asked some of my successful Clients what their suggestion to those who would like to be successful. They’re answers were surprisingly similar. “Learn to be the leader of a smart Team. If you’re the smartest person in your business, you’re probably doing things harder than you need to be”. I hope these ideas help you to either identify why you may be achieving your goals, or not. Mention this article for your copy of the Profit Mechanics Sales & Marketing Diagnostic Questionnaire along with a 30 minute phone chat to help guide you through the tool and apply your business objectives to it. Remember … Business is More Fun, When There’s Profit! Dan Buzer Profit Mechanics Business Mentor
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599
Let’s Talk Business 9 Jo-Anne Chaplin Tax & Superannuation Professionals Pty Ltd PH 07 3410 8116 / Mobile 0457 960 566 Email : taxandsuperprofessionals@gmail.com Web: www.taxandsuperprofessionals.com.au
I am a qualified Accountant and will celebrate my 20 th anniversary as a Registered Tax Agent this year. During my time in Public Practice I have assisted clients to achieve business growth and prosperity. My earlier career included positions in banking, manufacturing, construction and retail. My particular interest is in promoting a culture of using local industries and business in order to build a strong community.
The ATO are currently owed $18 billion in unpaid tax liabilities. As much as $10.6 billion of this amount is reportedly owed by small business. If you have an outstanding tax liability which you are having difficulty meeting, then the best course of action is to speak to your Accountant as soon as possible. I suggest this for two reasons: 1. Your Accountant can check that the liability is actually correct. They can also then advise on the various strategies which may be available to address the problem. For instance, varying future PAYG instalments to reflect your current income level, organising a refund of overpaid PAYG instalments, lodging outstanding income tax return/s, or check BAS statements to confirm they have been correctly calculated. 2. They can liaise with the ATO on your behalf. Tax agents have specialised access to tax office staff, so if your situation is a complex one, it is best handled by someone with experience in dealing with the tax office. If you prefer to handle these matters personally, then be sure to approach the ATO before the due date to request an extension of time to pay. These approaches are usually met with a positive response. However there are conditions: Web: www.marketingmeansbusiness.com
Do You Owe The Taxman?
All Repayments agreed to must be paid on time.
All future liabilities & lodgements must be completed, lodged and paid on time
A general interest charge will be imposed on the debt
Future requests for a repayment plan may not be approved.
One more tip: always lodge BAS or tax returns forms by the due date, even if you are unable to pay the liability. Late lodgement of these forms will attract significant late lodgement penalties. We have found the tax office very unwilling to remit a late lodgement penalty without a really good reason The best way to stay on top of GST & tax liabilities is to account for them periodically. Use your cash inflow cycles to set aside some cash in a separate bank account specifically for this expense. Depending on your type of business, amounts between 5% - 10% of the cash collected should be sufficient. For example if your business is in retail, where you are buying goods for resale, then you will be paying GST on those goods which can be claimed against the GST that you are collecting from sales. Hence, a smaller percentage of turnover can be set aside. If you business is mainly for the provision of services, then you
will not be paying significant amounts in GST on your expenses. Accordingly, a higher percentage should be kept aside. The major benefit of doing this is that you won't have a large cash outlay to meet at a time when cash might be short as the accumulated balance will either be sufficient, or close to the funds required to meet the tax liability. This is known as cash-flow smoothing as it recognises the GST expense at the time of collection, rather than as one lump sum from your sales once per month, quarter, or annually. Of course, any surplus funds are a bonus saving. A useful strategy to adopt is to move from a quarterly BAS to a monthly BAS cycle. For some businesses the smaller monthly payments are usually easier to manage than the quarterly payment. Particularly if cash flow is irregular. In summary, if you have an outstanding tax liability, its best to address the issue promptly. In my experience the ATO have been reasonable toward those taxpayers who are genuine in their requests for assistance.
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599
Let’s Talk Business 10
Karen Ahl Bac. Bus (Mark, Man), TAE40110, Cert IV IT Caboolture, Queensland Ph 0415 142 178
www.web-sta.com.au info@web-sta.com.au
Do You Own Your Domain Name? The ownership of a domain name (website address) can easily be overlooked. You know, you pay your bill, your website works, everything is hunky dory right? WRONG. Between the multitude of scams or businesses being sold and bought…we are seeing a massive increase in this. It is imperative that you check who LEGALLY owns your domain name. Common Domain Name Scams Back in 2010, the US Federal Trade Commission stopped a group who reportedly made $4,261,876US from email scams targeting domain name registrants (www.netregistry.com.au). This alarming trend continues in Australia. Your domain name information is publicly available. This makes it easy to create unsolicited correspondence. There a number of domain name scams that even the most diligent of business owners still fall for… It is the “Official Looking” emailed or posted “invoice-like” document requesting to renew an existing domain by transferring to a new supplier. Of course any business owner or employee is fearful of losing their presence online. Imagine your website being temporarily (or even permanently) “switched off”. It is easy to protect yourself 1. Keep in touch with the company who supplies your domain. TELL YOUR OFFICE STAFF THIS to ensure they get it right also. Web: www.marketingmeansbusiness.com
2. Keep a note of when your domain is due for renewal. (.com = yearly / .com.au = every 2 years). This can help prevent you paying a SCAM invoice as well as help you manage your budget.
registration details. You must ensure that this website address belongs to the current owners, especially if this is you. Your name, business name and ABN should appear here.
3. Read all invoices and emails carefully – if in doubt, talk to your web designer.
Having said this, it is usually pretty easy to rectify. 9 times out of 10, it is simply a matter of contacting the previous owners, completing a form (paper or online) and paying an “ownership transfer” fee. This fee can be anywhere between $80 and $200, depending on the supplier of the domain name. If you are the new owners, check the Contract to see who is financially responsible for covering this fee…OR…just bite the bullet, pay it yourself and get it sorted. The last thing you want is the old owners of the business seeing how successful you have become then deciding to enforce their LEGAL right to sell/rent you the domain name for a lot more than it’s worth.
4. If you want to change your domain provider – compare the price. A lot of these scammers charge a premium and often don’t even register your domain. Remember, it is a SCAM. HERE ARE SOME OTHER SCAMS!
Invoices for a web address that you don’t even own. e.g: You may own the .com.au version but they are invoicing you for the .com version.
Invoices where the domain spelling is slightly different to yours.
Offer of a free gift, like an ipod shuffle, with your domain name purchase / renewal. WARNING: Rip off and good luck getting your free ipod.
Bought or Sold a business? Another way to lose sight of who actually OWNS your domain is when a business is sold. Your first step is to visit whois.domaintools.com, type in your website address and check the
If not, you are not legally the owner of this domain name.
Speak with the company who registered the domain or your own web designer/supplier. Get them to ‘broker’ this transfer for you. This can sometimes help where the relationship between the previous owners and the new, is not harmonious. A few minutes to check your records and/or to speak to your web designer can save you money AND even your website. For further information contact Web -Sta Affordable Web Design.
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599
Let’s Talk Business 11
Peter Nicol Wisdom Marketing & Management Services 0417627097 www.wisdommarketing.com.au manager@wisdommarketing.com.au
STOP INTERFERING! Whilst I have made my living of recent years as a marketing person I still demand that we test the idea in the market by going out on the road and seeing how it works with the customers. This takes me back to the 70’s when I was a sales rep and was one of the tree people. Tree people are the reps who would grab a sandwich and eat it under a tree to cool off. No air conditioners or Maccas in those days! Life in sales can be full of ups and downs and we are judged on one criterion only HOW MUCH DO YOU MAKE. They were great days. Good sales people are really hard to find and when you do you have to put up with their foibles. No I am not saying long lunches or short working hours are acceptable. I am saying that if a sales person is not so good on the paperwork then just maybe you have to suck hard and put up with it if the numbers are there. So next time you feel you have an issue make sure you have had a good look at their results before you haul them over the coals. The other thing I have seen all too often is the need for many people in the office to want to control the sales people. They whinge and complain about the fact that they are never there. Duhh, they are supposed to be out and Web: www.marketingmeansbusiness.com
people become dispirited leave. Guess I showed them!
and
Have good measurements of performance in place. Good Position Descriptions.
about you know! If you have good measuring systems and the results are forthcoming I would suggest you get them to temper their passion and take a cold shower. The next sure fire way of making sure they do not make target is to have meetings with them. Now this makes those in the office feel very important and as the person is important the sales people turn up, drink lots of your coffee leave, then ask themselves what it was all about.
Identifiable and easily understood targets and last by no means least a commission scheme. The number of employers who I have met who would rather slit their wrists than pay a commission is large. No, it is not meant to be a bonus for doing nothing it is a way of getting exceptional performance out of people who are at the coalface and it usually works out cheaper. I am currently working on a commission scheme for a customer. It will take time but the team is worth it.
Less calls are made that day and then you wonder why you had a bad week. Sure one meeting a week is fine but several is simply stupid and must be stopped.
So leave them to it. Keep control but do it with balance. Go out on the road with them. The things you will learn are incredible, not only about them but from customers as well.
Set an agenda and get on with it. I have seen in my lifetime in sales and marketing people in offices hell bent on simply wanting to control sales people. Yup, I am gunna bring these people who are often different into line.
That is not interfering it is good management and that is what it is all about. Bring out the greatness in your team. If they like you and you are fair and you know your craft and can lead then do just that and good things follow.
Make them conform; make them understand the world is about control. Usually it does not work; the sales
Cheers Peter
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599
Let’s Talk Business 12
Ron Court, AMC Dip (Funerals) MQJA JP
OH&S Advisor 0419 679 619 roncourt@aapt.net.au
What is a disruptive incident? Any incident that disrupts the normal work processes and has an emotional or traumatic effect on employees at a workplace (It does not include disasters or catastrophes, such as major fires, explosions, floods or earthquakes). Disruptive incidents are likely to occur in a variety of workplaces and workplace safety and health planning should take these events into account. Various forms of violence, personal threats or other situations that are unexpected and distressing can result in lost production for the workplace and long term emotional or psychological reactions in workers who are affected by them. The approach recommended is to identify potentially hazardous situations, assess risks and implement risk control measures to eliminate or minimise the impact of disruptive incidents. Key risk control principles are presented within the framework of the hierarchy of controls. To be effective, the management of disruptive incidents should be an integral part of the workplace's emergency management system. Disruption may occur on a small scale, perhaps when an individual has suffered some personal trauma and that trauma has a detrimental effect on the person's work, usually dealt with by individual referral to appropriate assistance. Web: www.marketingmeansbusiness.com
DISRUPTIVE INCIDENTS IN THE WORKPLACE
On the other end of the scale, a catastrophe or disaster, such as a major fire or explosion, flood or earthquake may disrupt work. These events require major disaster planning and may involve the co-ordination of emergency* services over an entire geographical area. A "disruptive incident" is somewhere in the middle of these: serious enough to disrupt work to the extent that management plans have to be activated to restore order and serious enough to have long term effects on the workers if not managed properly. There may also be property damage as a result of the incident. Disruptive incidents do not include incidents which occur as a normal and expected aspect of the work, for example, the type of incident regularly dealt with by emergency rescue workers, road accident police and domestic violence workers. These categories require a different level of management because there is an emotional and potentially traumatic element inherent in the work. Aggression towards people at the workplace Example: from customers who are dissatisfied with a product or service, Death or serious injury that involves people at the workplace This would include a fatal or serious accident at the workplace, the sudden death or injury of a fellow worker or person well known to the workforce (for example: the death of a work colleague in a road accident outside of work) or a suicide by a person on Email: dennis@marketingmeansbusiness.net.au
work premises. The announcement of retrenchments or organisational restructuring These may be disruptive if they are sudden or more widespread than expected. The cost of disruptive incidents Disruptive incidents are by their very nature a cost to organisations because they disrupt normal work processes. In some cases work may cease altogether for a period of time. The impact of disruptive incidents on workers can also cost organisations in terms of reduced morale, impaired performance, absenteeism, sick leave and staff turnover. Communication systems Effective communication systems are especially important for people who work alone. Provide adequate resources Employers should provide the resources needed to manage disruptive incidents from the planning process all the way through to the completion of the recovery phase. You can get information about your OH&S obligations and other valuable OH&S resources both in hard copy and online from their websites. http://www.deir.qld.gov.au Always seek independent legal advice on what is applicable to your situation. ďƒž Mobile: 0451 184 599
Let’s Talk Business 13
Paul GILLMORE DFS Founder and Director Southern Cross Financial Services 07 5429 5561 0402 685 032 paul@sc-fs.com.au
Live Long and Prosper!
We are living longer!
part of their employment contract.
It is not unreasonable to think that most of us are likely to live to our nineties on average. Indeed, for couples reaching age 65 years, there is a 50% chance that at least one of them will live to age 98.
But there’s a Problem
Baby Boomers have not had enough time to contribute and not enough time for compounding to increase their super. Some 85% of people will retire with an income Many of us are becoming more health of less than $500 pw and most will conscious too. This is great because retire with less than $500 per more of us will lead healthy active month. lives as we age. The Response This longevity is something we must Governments have put an array of consider in our working lives because assistances in place for people to whilst we might work for 45 years, we take advantage of in order to are likely to spend 25 years or longer, provide for their retirements. There in retirement. However, chances are are strategies ranging from Self that in the next quarter century, we Managed Superannuation Funds could well live longer still, on average. (SMSF) to Transition to We also know that the ‘Baby Retirement (TTR) strategies. Boomers’, the high number of babies These all sound too complex and born in the post WW2 period, are too hard don’t they? beginning to retire. Further, we know that this places a disproportionate So what do we think? I know, my demand on government resources to business is my super, right? fund pensions for this increasing group O.K., allow me to ask, what if your of retirees – so, what should we do business goes under? What if about this, as a nation? something happens to you and you can’t run your business? What if The Solution the world changes and your In the early 1990’s the federal business is no longer applicable? government recognised that there was a What if you can’t sell your potential problem so they legislated business or can’t get the price you that employers pay 9% superannuation hoped for? for all employees. Recently, this has been increases to 9.25%. Some The answer is: You won’t have employers like local and state enough and will be ill prepared for government employers pay more as retirement. However, what if you looked and Web: www.marketingmeansbusiness.com
said “My business is an income producing saleable asset” and “My business contributes to my retirement” ? Then:
You would have separate money set aside for later This money would be Asset Protected Your business could go under and you would still have your retirement savings This could be available to you in extreme financial hardship You could save on tax and keep the money for yourself You could use it as a tax planning tool You could invest it in a way best suited to you (within the regulations) You could have total control of your retirement savings You could have cost effective and tax effective personal risk cover in place You could use leverage within your super Your super can be protected from market downturns ensuring that will be there for you It can assist in managing capital gains tax (CGT) when selling your business I could certainly go on but hopefully you get the picture so what to do? Engage Warp drive, Mr Scott ! To all business owners and employees alike I say, ENGAGE with your super. Take the advantages and take control, NOW ! They are there for the taking. But how ? Contact an independent advisor for a complimentary chat on what could be done for you so you can . . . Live Long and Prosper.
Email: dennis@marketingmeansbusiness.net.au
Mobile: 0451 184 599