District32 Business Prophet - May 2023 Issue

Boosting Your Business with Effective Marketing Strategies

As a business owner, we all know the importance of building a strong local presence to attract and retain customers. Local marketing strategies can help you achieve this by focusing on your target audience's specific needs and preferences. This article will explore some effective local marketing strategies that can help your business grow and thrive.

Digital marketing is a powerful tool for reaching potential customers online. Search engine optimization (SEO) and Google Ads can help you rank higher in search results and target customers searching for products or services related to your business. Facebook Ads can also help you reach potential customers in your local area based on demographics and interests.

Direct marketing, such as sending out letters and offers to your local business community, can help you reach potential customers in a specific area. Unaddressed mail can also be used for branding your business to a broader audience, at a very low cost per lead.

Finally, building relationships with other businesses in your community can be a valuable way to increase your visibility and credibility.

Joining local business groups or networking organisations, can provide opportunities to connect with other business owners and establish partnerships that benefit both parties. Networking is an effective way to increase your reach ten-fold.

In conclusion, combining digital marketing, direct marketing, and networking can build a strong local presence for your business and attract and retain customers. Don't let your business suffer from a lack of visibility. Implement these strategies and watch your business grow.

g sultants.com.au 0438 938 914

www.integralbusinessconsultants.com.au

The Perfect Storm – Why is Cashflow so important?

“Cash is King” – we’ve heard the term and while it has been used in many financial and corporate contexts, in small business it highlights the importance of cash as an asset for short term purchases and operations.

“The Perfect Storm” – another phrase we are all familiar with. A disastrous situation caused by the coming together of many forces at the same time and with lack of concern, resulting in overwhelm and disaster.

The lack of cashflow risks the perfect storm

Cashflow can be even more important than revenue or profit. With a solid cashflow, your ability to predict the cashflow of your business can highlight cashflow crunches even before they happen. The ability to look 3-6 months in advance to predict a shortfall can mean the difference between weathering the storm or succumbing to the perfect storm!

Why you need a cashflow!

1. Cash really is king!

An overall positive cashflow points to a successful business.

Read in conjunction with your financial reports, a solid cashflow forecast assists with lending requirements such as purchasing plant and equipment, taking on staff members or moving premises.

2. Avoid late payment penalties

Keeping your business cashflow positive with available cash to pay your liabilities, decreases the chance of being charged extra penalties from suppliers, overdraft interest, ATO late penalties and interest, and superannuation charge statements.

3. Optimal decision making

Are you expanding or are you selling? With a robust cashflow forecast, your ability to pinpoint the time to expand or sell is highlighted, giving you confidence and power in your ultimate decision.

A thorough and robust cashflow forecast will prevent the perfect storm!

Susan Carson

Marketing without Brand Strategy, is like a book without a plot.

About this workshop

Here is the truth and what marketing people don’t tell you.

Word of mouth is still the best form of marketing today, and by simply putting a strong digital foundation in place, you will amplify your word of mouth and grow your business.

The next step in the development of marketing your business is to invest in your brand strategy. Whether you’re a small business or an enterprise challenging the status quo for market share, without investing in your brand strategy, you won’t attract, you won’t build trust, and you won’t get the best return on your marketing dollars spent.

There is too much noise, and the competition is fierce! So, developing your brand strategy will help you to craft content and media that breaks through the noise and connects you with your ideal customers.

Customers that value, appreciate, and invest in the products and services you offer.

Main outcomes / learnings

Learn how to attract, share, and convert by creating awareness, engagement, and connections that matter, with a brand that cuts through the noise and stands out.

What you can expect from this workshop.

Let’s play a game and make it fun! Learn about brand strategy, and let’s do a mini workshop. Save yourself $10,000 because we will provide you our Brand Strategy Workbook.

Invest in your brand strategy and come have some fun with Calum.

About Calum

Calum Maxwell is an educator, collaborator and storyteller, who is purpose-driven on a mission to make the world a better place. With 20 years’ experience in Sales, Marketing & Business Development, Calum is an Online Growth Expert.

From Silence to Support: The Importance of Mental Health Programs in the Workplace

As a business owner, you likely understand the importance of your team members. Without their hard work and dedication, running a successful business would be incredibly challenging, if not impossible. It is our responsibility as business owners to add value to the lives of our employees not only while they are at work but also in their personal lives.

At Innovative Hair Loss Solutions, I have been fortunate to have team members who have been with me for over nine years. This loyalty and dedication is something I truly appreciate and try to reciprocate. As business owners, we have an opportunity to positively impact the lives of our employees, and this is something I take seriously.

Mental health challenges are becoming more prevalent in our community, and this includes our workplaces. Statistics show that 20% of people in Australia will experience a mental health episode within the next 12 months.

[GU1] Unfortunately, many people suffer in silence, and in some cases, this distress can lead to self-harm or even suicide.

We need to create a supportive environment where people feel comfortable talking about their mental health and seeking help when they need it.

This is why Troy Coward, Ray Mancini, and I have teamed up to create the Beacon of Light. The Beacon of Light is an educational program designed to help micro-communities identify and respond to crises. This includes situations where a loved one or colleague may be struggling with their mental health but is not speaking out. By providing your team with the knowledge and tools to potentially save a life, you are giving them a gift that will have an immeasurable impact.

I encourage all business owners to consider implementing mental health programs in their workplaces. By doing so, we can help break down the stigma surrounding mental health and create a supportive environment where everyone feels valued and supported.

What Is Residual Income and Why Would You Want It?

...versus linear income, which is solely based on hours worked; continuously exchanging time for money.

Residual income requires an upfront investment of money and/or time, but once the work is completed, a stream of income has been established that takes little or no effort to maintain.

Three Keys to Building a Residual Income

Create something people will continue to buy or use on a regular basis.

Leverage - you must be able to leverage other people’s time or money. This is how Richard Branson is able to run 400+ companies. If you have a team or employees, you have leverage. If you are an employee, you are the leverage.

3.

Patience – residual income is an asset and it takes time to build. A long-term vision is required.

Examples:

Book, movie, song – asset to the people earning royalties.

House – asset to the landlord being paid rent.

Business – asset to the business owner who no longer needs to be involved in the day-to-day activities.

Five Benefits of Residual Income

Continuously get paid for work already done.

Asset for future generations.

Once you’ve built up an ongoing residual income covering all your expenses, you are essentially financially free.

You have choices. You are no longer tied to a job or even where you live. Residual income is accessible and can be created by anyone, regardless of experience or education and there are many options, including some with very low start-up costs.

"If you don't find a way to make money while you sleep, you will work until you die."

1. 2. 3. 4. 5.

- Warren Buffet

Andrew Njuguna

How Many Annoying Projects Have You Got on the Back-Burner that You’ve Been Avoiding?

All businesses have projects sitting on the “back burner.”

The reason they stay there, is often the business owner lacks the full skillset to complete the work. We try and be the ‘jack of all trades’ in business these days, but it’s far more effective to outsource these projects and specific tasks to someone with the right skills... (and if it’s a VA, for a quarter of the cost of getting it done locally).

Outsourcing allows you to focus on core competencies. By outsourcing non-core tasks such as social media, HR, or administration, companies focus on what they do best improve their overall efficiency productivity.

VA businesses that specialise in areas like social media, businesses access to industry-specific expertise. Realistically most of us these skills so it’s often better to help.

This can lead to increased scaling operations as needed. When a bu outsources work, it gains access resources it needs to grow and ex rapidly, without worrying associated with hiring additional staff upgrading infrastructure.

For these reasons, Leap Resourcing is now offering project work to help businesses clear out these dormant projects and access specialist team members for casual assignments.

Whether it’s a database that needs a complete overhaul, 6 months of social media posts, an e-book written or market research - we can do it!

We are kicking off with a promotional offer of 20 hours of VA for $199. This offer is just for social media.

On a professional level, as an insurance broker, Derek took the time to understand our businesses before evaluating and proposing potential insurance cover.

Derek has an in-depth understanding of 'all things Insurance' and we have had all our insurances organised by Derek over the past three years.

Certainly providing 'Certainty in Crises,' I have previously recommended Derek's expertise to other businesses and have received a very positive response from every business I have referred.

- Cletus D'Cunha Director at BzyBuild Projects

The Revolutionary Way to Heal

Body

For more information on the Oska Pulse, go to www.oskapulse.au or call Customer Support on 1300 764 117.

Strategic PlanningEnablers & Inhibitors to Growth with Jack McGrath

Guidance and insights into how you can build and sustain the culture you want going forward, in turn delivering sustainable growth.

Insights into which leadership elements will enable and impede your strategic growth.

Ignorance around strategic and cultural diagnostics doesn’t wash with great leaders. How to navigate these choppy waters with ease, while taking home some useful snippets of information to use in your organisation and the implementation of your strategy.

1300 55 22 93

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The views and comments expressed by the authors may not always be those of the publisher While every effort is made to ensure the accuracy of content, District32 accepts no responsibility for any errors, omissions or resultant damages or loss due arising from content in this publication.