Modern Business Magazine

Modern Business

速

M A G A Z I N E

The Pace Of Change Is Bewildering Many Companies

JUNE 2012

Urgency Addiction: The New Corporate Disease

Modern Business

®

M A G A Z I N E

What’s in this months magazine?

CAREERS MAGAZINE Regular Features Page 4

The Modern Business

Page 14

Getting to Know You: Pricing Prophets

Page 26

Your Business Experts: Business Development Alliance

Page 36

Getting to Know You: 8020 Center

®

Special Features Page 6

How To Gently And Naturally Attract Prospects And Turn Them Into Clients

Page 8

Busting The 3 Most Common Business Storytelling Myths

Page 12

If You’re Not Unique, You’re Invisible!

Page 24

Bring Your Gun To A Knife Fight

Page 28

The War For Talent Is Getting Bloodier And Dumber

Page 46

How To Create Commerce-Enabled Content

CAREERS MAGAZINE JUNE 2012

速 The Pace of Change is Bewildering Many Companies

In the spotlight Page 18

The Pace Of Change Is Bewildering Many Companies

Page 20

Can I Have That Yesterday? Urgency Addiction: The New Corporate Disease

Articles Page 10

What To Look For When Hiring A Professional Graphic Design Agency

Page 30

10 Traits That Make Great Employees Outstanding

Page 32

How To Keep Your Employees Engaged

Page 34

Introducing A Different Kind Of Recruitment Service

Page 38

Content Is No Longer King It Is Master Of The Universe

Page 42

Australian Retailers Still Confused

By Online

M A G A Z I N E

Modern Business

THE MODERN BUSINESS with Mark Matthews Welcome to the June 2012 Issue of Modern Business Magazine.

Recent economic data shows Australia has experienced strong growth over the past 12 months which reinforces the robust growth expectations of Australian private businesses discussed in last month’s issue. Though, some businesses and sectors are still struggling, with the pace of change bewildering many businesses.

With Australia predicted to experience decades of strong growth adapting to a fast changing business environment is likely to become a key management discipline. But are we ready.

Or are you now addicted to urgency? Do you always want or need something yesterday. We look at the new disease infecting corporate Australia.

If you’re not unique you’re invisible. Standing out from the crowd is a key to winning and keeping customers. In an increasing crowded marketplace David Solomon gives us some timely advice about why it is so important to be clear in what you stand for.

Sales & Marketing Have you ever wondered How to gently and Naturally attract Prospects and turn Them into clients. Well Tom Poland has some great advice on how to do just that.

Online Content marketing is the most powerful tool in most organisations marketing arsenal.

With many companies now allocating over a third of their

marketing budget to this alone, getting it right is vital to long term business success.

With the explosion in content marketing, business storytelling has become a key marketing tactic. It has also proven to be highly effective in boosting sales - improving communication and closing rates. Yamini Naidu, one of the pioneers in of commercial storytelling in Australia, talks about the myths of storytelling and why it is so effective in improving sales & marketing results.

Finance Running a modern business has enough challenges. Richard Wozniak tells us about the most powerful financial management tool you can use in your business.

It’s like bringing your gun to a knife fight.

Staff Management One area of business management that has undergone more change than almost any other is how we many people. Talent is harder to come by and determining the traits that make great employees outstanding, then keeping them engaged can be challenging.

So we’ve put together some

4 | Modern Business Magazine

information that will hopefully make this a little bit easier.

Features Have you ever struggled with pricing your products or services?

Are you too cheap, too expensive or if the price reflects the true value? Well, this month we chat with Jon Manning from Pricing Prophets about how to get what is probably the most important aspect of your business right.

We also talk with Tom Poland from the 8020 Centre about his new Free Kick-Butt Marketing Plan and the marketing challenges facing modern business in “Getting to Know You”.

We also interview Mark Fernandez from Business Development Alliance about what makes a great franchise consultant in “Your Business Experts”.

Plus there is an exciting selection of executive job opportunities courtesy of the Maxiom Jobs web site.

Enjoy the magazine. All feedback is appreciated. To have your say or if you have any inquiries please visit our website at: www.maxiom.com.au

M A G A Z I N E

Maxiom Digital Magazines

Maxiom Digital Magazines

14 Different titles covering many interesting aspects 11 Titles Covering&Many Interesting Aspects of ofDifferent Business, Marketing Sales, Franchising, Business, Marketing, Franchising, Leadership, HR & HR & Recruitment, Construction and more....

Recruitment, Construction, plus more....

Subscribe

Subscribe

5 | Modern Business Magazine

Subscribe

Subscribe Subscribe

Subscribe

Subscribe

Modern Business Magazine | 5

Modern Business

Subscribe for free.

Subscribe for Free.

Modern Business

M A G A Z I N E

HOW TO GENTLY AND NATURALLY ATTRACT PROSPECTS AND TURN THEM INTO CLIENTS

By Tom Poland

The Bait Trail Many people travelling to Europe from this part of the world are a little taken aback by severe faces worn by middle aged and elderly Dutch and German men. (For some reason this does not apply to the women – and no, I am not just saying that to cover my behind in the unlikely event that my German wife reads this!)

Whereas it’s easy to spot an American in Europe (baseball cap, camera and a smile), a Frenchman (beret, garlic and ignores you), a Brit (plaid sports jacket, shorts, sandals and socks) or even a Russian (always looking like they are plotting something), spotting the difference between the Dutch and Germans was a mystery to me until my most recent European visit last month.

How do you tell the difference between the Dutch and the German men?

With apologies to all my male German friends, it’s simple: older Dutch men walk around looking like someone just died whereas

older German men walk around looking like someone is just about to die. I concede that this difference can be subtle but it’s definitely there.

And furthermore, some of the older German men have a happy knack of looking like the impending death is their own personal responsibility. Talk about grim.

This is, I have concluded, how the brothers Grimm came up with their name. From a marketing perspective the name is stroke of pure genius in that it must have created instant empathy with tens of millions of Germans. “Grimm? Wow, amazing … that’s how I feel all the time, I better listen up!”

Anyhow, get on to the point of the article Tom. Okay, here’s the Grimm brother’s story which illustrates the key marketing strategy that I’m writing about: Hansel and Gretel got to the wicked witches house via a “Bait Trail”. They picked up a sweet and then saw another one and picked that up and so on until they were led to the

6 | Modern Business Magazine

rather unlikely house made of lollies and owned by a witch with a big cauldron.

The latter had presumably played host to many such young kids previously. (The very fact that the brothers Grimm reckoned this was a suitable tale to tell children must have given Freud and others years of material to work with.)

So how does that apply to copy writing and marketing, I hear you ask?

By way of explanation: at the 80-20 Center we teach the need for business owners to create four levels of “value delivery” a.k.a. product/service. And at a big picture level those four levels illustrate the broad principle of the Bait Trail very well.

Level One contains all the Free Added Value (FAV) products/ services: special reports, ezines, samples, initial meeting, quizzes, talks, webinars, trial periods, test drives, check ups etc.

Level Two consists of Easy Entry Products (EEP): these are

M A G A Z I N E

Level Three has all of your Core Offering Products (COP) and it’s where you want your clients to end up.

Level Four are “Spin Off Products” (SOP) and at the start of a business you probably will not know what they are going to look like and there’s no need to plan for them because they will make themselves apparent in the form of client requests. They are often high priced and more customized versions of Level Three but can also end up as additional Level Three products/ services.

So many people don’t have the first two levels and those two levels are the start of the critically important Bait Trail. It’s a game of patience and seduction. Level One products should be thrown around your marketing universe like confetti at a wedding: you aim at your target marketing (bride and groom) but other than that you chuck them out indiscriminately and in as large amounts as humanly possible.

So have a think about your products/services. Do you have a Bait Trail or are you simply sitting

in your lolly house, buried deep in an enchanted forest forlornly hoping that clients will stumble upon your genius products/ services?

Worth thinking about.

Other uses of the Bait Trail principle

Note that the visitor was not confronted up front with having to give contact details in exchange for the quiz and the offer of the ezine. It was laid out in a step by step sequence that was carefully constructed to maximise the likelihood of getting their contact details.

Another example

We vastly overestimate the ability of our clients to process data. The conscious mind can hold one thought at a time. That means that anything more than one thought at a time requires us to actually think. That’s when the frowns start. That’s when we think “I’ll get to that later”.

For example: I’ve discovered that the all-time (currently) best way to get visitors to a website to give their contact details is to offer them a quiz.

But rather than say up front: “hey, give us your contact details, take our quiz and we’ll also sign you up for our great ezine” it works better if we “Bait Trail” it.

So the visitor clicks on the nice shiny “take the quiz” button (without having to enter their contact details at this stage), then they get taken to the quiz page and answer the questions.

Then a screen pops up and says “Hey congratulations for taking the challenge … we’ll email your results to you right away … simply pop your details in the nice box below and as a bonus you’ll also get our great monthly ezine full of great tips on how to [xyz]]!”

7 | Modern Business Magazine

This week I sent out an invite to a free online seminar. Based on past experience over 100 people will register and 50 will actually show up (a prerequisite for success). At the event I’ll provide a lot of valuable information and offer attendees a “Discovery Call” if they are interested in the offer that I will make at the end.

A handful will request that call and when we conduct it I’ll find out if I can help them achieve their business goals and most will become a client on my 4 month program and one or two will graduate from that program and become clients for years.

The latter is what I really want.

But notice how many steps there were in the Bait Trail? Email invite, attend webinar, have Discovery Call, complete short term course, become long term client.

So have a think about breaking down each of your goals and each marketing process into small Bait Trail steps. It take patience and a little persistence but my oh my, it pays off handsomely.

Modern Business Magazine | 7

Modern Business

designed to make it easy for a prospect to become a client i.e. they must now pay some money, honey. Not a lot of money compared to our main products/ services but enough so they now have some “skin in the game”.

Getting someone to part with their hard earned, regardless of how little is the only valid test of whether your value proposition is working. Until you’ve got some money, you’ve got nothing.

Modern Business

M A G A Z I N E

Busting the 3 Most Common Business Storytelling Myths

By Yamini Naidu Seven years ago when I set up a business specializing in Business Storytelling and went home and told my mother, she said like every good Indian mother would “Business Storytelling, is that even a job? Why can’t you be a Doctor or in IT? Storytelling you can do on weekends.” Whenever I share this in presentations (with a strong Indian accent of course) it gets a roar of laughter. Because it speaks to a universal truth …both about mothers and about storytelling Most people don’t get what business storytelling is and how it can help them achieve business success. Simply stated Business storytelling is storytelling with a business purpose and for business results.

Myth # 1: All your stories have to be about business Absolutely not. In fact we highly recommend that your stories are not from business as that is boring and predictable. If for example your message is around the customer experience you could use a personal story just like our customer Matt Ritchie from MLC did.

‘I was recently reading a magazine that featured an interview with Bruce Springsteen.

Bruce Springsteen has been a musician and performer for over 20 years and has a tremendous reputation as a live act. The interviewer asked him how he kept up his motivation to deliver night after night. To which Springsteen replied “It was when

I realized that, while for me, every night is a “Bruce Springsteen concert night” there are 1000′s of people in the audience, who have spent their money to see a Bruce Springsteen concert maybe for the first and only time in their lives. They may only come to one Bruce Springsteen concert in their life and I want to give them the best ever Bruce Springsteen experience. And that’s what keeps me going night after night”.

Reading that reminded me of us at work every day. While we might take hundreds of calls, for a customer who rings us, that might be the only contact they have with MLC, this might be the only “Bruce Springsteen concert” they go to. Imagine the difference we can make if every

8 | Modern Business Magazine

time our customers got the full Bruce Springsteen experience…’

The story struck a chord with everyone in the group and what a powerful and memorable frame for thinking about, and delivering customer service, the Bruce Springsteen experience.

So using a personal story (and as you can see from this one it does not have to be the most revealing personal moment in your life) and linking it back to a business message can be really refreshing and powerful in business.

Myth # 2: You need just ‘one story’ Our clients often come to us asking for help to develop their ‘story’. Their ‘Customer

M A G A Z I N E

Myth # 3: We can create stories by committee or by group

1. Introduce storytelling attached to a current business issue.

This is a major myth. There is no one story that can capture the range and complexity of what you are trying to do. If you try to cram everything into one story, it will probably not end up being a story anymore and it will end up sounding like a mission statement.

A client recently shared with us how senior leaders in their organization were tasked to come up with the organization’s story. Needless to say the attempt was disastrous, resulting in a patchy set of motherhood statements. Not to blame the leaders, this was simply the wrong process for trying to find the stories in their organization.

Storytelling even in a business context is a personal endeavor, a single human activity. Notice how most books are written by just one person? So storytelling by committee will not give you any stories. The best stories emerge when individuals are given the skills and the confidence to bring the personal into work and link it to business message, purposefully. Like Matt did with the Bruce Springsteen story.

2. Formalise the storytelling process and provide leaders training so they can skilfully and confidently apply it.

You need a suite of stories, catering to different audience segments. The Bruce Springsteen story would for example be one in a suite of stories all around delivering customer service.

Nordstrom, the upmarket retailer in America has ‘Outstanding customer service’ as one of its core values. And they communicate what they mean by this through a range of stories.

Like the story of a Nordstrom employee who made a house call to exchange a pair of shoes and another one about Nordstrom splitting two pairs of shoes in order to fit a customer with different sized feet. They never talk about ‘Our Outstanding Customer Service story’ or even worse ‘The Nordstrom Story’, but use a range of stories.

When all these 3 myths are busted that is the first step to understanding how to harness the power of storytelling for business results. If you want to bring storytelling into your company to start achieving business results, we have found this works best when you:

9 | Modern Business Magazine

3. Develop formal and informal strategies to capture stories and then find multiple channels to relay stories to other leaders, employees and customers.

And that’s just the start. But none of this can happen unless the storytelling myths in your organization are busted first.

Yamini Naidu is a Graduate from London School of Economics, a business expert and thought leader in storytelling. She is also the co-founder of One Thousand & One and has helped some of Australia’s major corporations strategically introduce storytelling to achieve significant business results. To contact her or for more information go to www. onethousandandone.com.au

Modern Business Magazine | 9

Modern Business

Experience story’ or ‘Insert name of department/organization story’.

Modern Business

M A G A Z I N E

WHAT TO LOOK FOR WHEN HIRING A PROFESSIONAL GRAPHIC DESIGN AGENCY The benefits of hiring a good graphic design agency are many and there are an oversupply of designers out there, so why are the great ones so hard to find? By Trevor Cooke Choosing the right design agency - one who will clearly understand your vision - can be a time consuming and tedious exercise. You want a designer who can take the visualisation you have of your company name or trademark, what your business represents and the message you want to send to your audience and replicate it. Here are some things to look for in a graphic design professional.

Open communication channels - A professional creative design agency should have an open communication channel with you at all times.

This will keep you in the loop throughout the design process. It will also give you a chance to gauge how much time and effort they are putting into your project.

Furthermore, graphic designers who are looking to keep you notified on your design, imply that they are giving due attention to the work at hand.

Prior research - To get a complete understanding of your creative design needs, an agency should be willing and able to conduct a thorough research.

This will give them insight into your company, as well as your business focus. With such information, creation of a design that embodies the company’s qualities is possible.

Personable - The graphic designer you work with should be approachable. They should carefully listen to your instructions so that they do not miss out on any details.

In addition, they should ask questions where necessary, so that as much information as possible can be availed for the project.

Price quotations - Dealing with design agencies can get a bit tricky when it comes down to pricing. As such, be cautious about the agency you pick, and ensure all the costs are given, prior to carrying out the project.

If the work is on a contract basis, be sure to read all documents before signing. This eliminates any future misunderstandings or hidden costs.

Passionate - Good website design and graphic designers are genuinely passionate about their work.

10 | Modern Business Magazine

Creativity is part of the job, and that aspect should be evident as they carry out the project.

Skills Required - The design agency you decided to use should be capable of designing with the most up to date software.

It’s essential that the company is able to offer you visual design proofs before you decide to agree to the design project.

But it shouldn’t end there. Too many designers and agencies are just proficient at using the software but lack real knowledge and understanding of modern business requirements, marketing and brand development as well as specific industry knowledge relative to your business.

The best agencies have industry specialists, who have worked with many companies like your and understand the audience you are trying to reach.

The agency should also have vision and be proficient in the technology available to ensure your message is consistent across all channels.

Amaze Creative Keeping it clear and simple.

Amaze Creative Strategies Creating, distributing and analysing engaging, recurring digital content experiences across multiple channels.

MWA Design can help you get your marketing message to your target clients in the most effective way to boost your sales and your profit. We are not just interested in great design and the latest technologies we’re interested in your business, your customers and your commercial success too.

Inspire Your Customers & Franchisees Inspire them to buy Inspire them to share Inspire their loyalty Increase brand recognition Increase interaction with your brand Create a consistent brand experience

Brand Design | Print & Digital | Web Design | Web Development

www.amazecreativestrategies.com

11 | Modern Business Magazine maxiom

Modern Business Magazine | 11| 39 Outsource Resource Magazine

Modern Business

M A G A Z I N E

If You’re Not Unique, You’re Invisible!

By David Solomon Let’s start by looking at uniqueness...

Have you ever done a Google or a Facebook search on your own name? How many other people with the same name did you come up with? 5? 10? 20?

Over 50? I mean, there are now over 500,000,000 people on just Facebook!

I used to think my name was pretty unique, but even preinternet I found out about 7 other people called David Solomon living in Australia. I had never met any of them, but occasionally I’d meet someone and they’d ask me “Are you the David Solomon who...?” Nope, they weren’t me, so I quickly learned to differentiate myself.

After all, I didn’t want to be held accountable for their actions and deeds - only my own.

When looking at uniqueness, I think it is hard to go past the 2003 groundbreaking book

by Seth Godin - In Praise of the Purple Cow - making and marketing remarkable products.

Godin talks about driving through France with his family and how they were enchanted by the hundreds of storybook

cows grazing in lovely pastures right next to the road. For kilometres, they all gazed out the window, marvelling at the beauty.

Then, within a few more minutes, they started ignoring the cows.

Why? Well the new cows were just like the old cows, and what was once amazing was now common. Worse than common - it was boring. You see, cows unless perhaps you’re a farmer or a butcher - after you’ve seen them for a while, are boring.

They may be well-bred cows, Six Sigma cows, prancing cows, cows lit by a beautiful light - but they are still pretty boring.

But Godin thought “...a Purple Cow - now that would really stand out!”

The essence of the Purple Cow - the reason it would shine among a crowd of perfectly competent (even undeniably excellent cows) - is that it would be remarkable. Something remarkable is worth talking about, worth paying attention to. Boring stuff quickly becomes invisible.

12 | Modern Business Magazine

Godin says that the world is full of boring stuff - brown cows - which is why so few people pay attention. And remarkable marketing is the art of building things worth noticing right into your product, service or brand. Not just slapping on the marketing function as a last-minute add-on, but also understanding from the outset that if your offering itself isn’t remarkable, then it’s invisible no matter how much you spend on well-crafted advertising.

Today, the one sure way to fail is to be boring - and therefore invisible. Your best chance for success is to be remarkable.

Another reason the Purple Cow is so rare is because people are afraid of rejection. If you’re remarkable, then it’s likely that some people won’t like you.

That’s part of the definition of remarkable. Nobody gets unanimous praise - ever.

Criticism comes to those who stand out - it’s part of the territory.

Not standing out, playing it safe, following the rules - they may seem like the best ways to avoid failure. However, that pattern isn’t safe. In a crowded

iness, Marketing, Franchising, Leadership, HR & ruitment, Construction, plus more....

CONSIDERING A CAREER THAT MAKES A DIFFERENCE? Then you must read this magazine!

marketplace fitting in is failing.

In a busy marketplace, not standing out is the same as Subscribe being invisible.

SOCIAL ENTERPRISE MAGAZINE Subscribe

Subscribe

Seth Godin himself demonstrates himself to be a remarkable Purple Cow. (His blog is at http://sethgodin. typepad.com/ - is worth checking out.)

It’s been said that “If you don’t stand for something, you don’t stand for anything.” So does everyone need a Compelling Value Proposition? Not necessarily - but everyone does need a purpose, something to stand for - a higher purpose.

In previous articles I’ve written about several examples of Subscribeperforming artists who have been very clear about who they are and what they stand for.

These include Cirque du Soleil, Kylie Minogue, Lady Gaga and The Grateful Dead.

m

As a result, these artists have created very clear CVPs or Compelling Value Propositions.

I work with women entrepreneurs who feel overworked and getting nowhere, so they end up frustrated and unsure of how to move their businesses forward. I help these women build a Higher Subscribe Purpose Business so that their business works for them, rather than them working for it.

To know more about my approach to business, check out http://quidditybusiness.com.au

13 | Modern Business Magazine

Subscribe

CLICK HERE To get your FREE Careers Magazine | 5 copy delivered direct to your inbox every month

Modern Business Magazine | 13

Modern Business

M A G A Z I N E

GETTING TO KNOW YOU: PRICING PROPHETS Small business hasn’t had access to much good pricing information and advice in the past. Most people think that there is only one option when pricing their product or service. You work out the cost to manufacture a product, or the number of hours involved in delivering a service, add a percentage for the profit you would like to make and voila! You have your price. Talking to pricing expert Jon Manning to find out more about pricing strategy, we quickly learnt that value based pricing is far more effective.

1. What inspired you to start PricingProphets? What are you goals and values?

In mid 2010, I was at a networking event where there were speakers talking about crowd-sourcing.

Although, I wasn’t one of the speakers, I was asked a question about pricing and crowdsourcing.

After the talk had finished, someone approached me and said “I’m selling this product, but I’m about to launch that product, what do I charge for it?”

At that moment I realised that people had been asking me that question for over 20 years, and rather than answering “that depends”, I could provide a more specific answer if I created a platform that crowd-sourced the answer.

[NB: crowdsourcing is an online movement where you get ‘crowd’ of people to solve a problem, such as, in the case of PricingProphets, what price to charge] 2. What was the driving force behind your decision to specialise in the pricing

strategy sector?

I have worked in pricing for almost all my working life, and it started by accident rather than design. My first job was in the oil industry checking the prices on invoices, and wondering where those prices came from. I don’t think anyone has solved that mystery yet.

I then started pricing catering, and quickly worked out where those prices were coming from: the addition of costs, plus a desired profit margin. After that I moved into pricing airfares, where prices are primarily driven by the competition. And for the last ten years, I’ve been consulting to a wide range of companies, assisting then with pricing on the basis of value, rather than costs or the competitions.

3. What experience do you have helping small business clients?

SME’s are the type of clients I like the best. I’ve helped many over the years, ranging from homebased business, entrepreneurs with start-up businesses, as well as retailers and wholesalers.

14 | Modern Business Magazine

Some of their products include marketing and music recording services, websites and technology products, through to fresh flowers.

The great thing about working with SME’s is that you can make a difference to the bottle line very quickly, and without having to worry about the bureaucratic baggage that comes with a large firm. You usually end up with both a relationship and a friendship with the people in the business as well.

4. Do you service other sectors as well?

Of course! You know, one of the misconceptions of a lot of people is that you need pricing experience in their particular industry to be able to help them.

This could not be further from the truth.

People don’t ask an accountant if they have experience in their industry: 80% of what they need to do they are trained in, and the other 20% is worked out from the financial transactions they crunch for the client. The same applies in

M A G A Z I N E

5. What are the main reasons that someone would choose PricingProphets to assist with developing their business?

There are several reasons clients use PricingProphets: • They realise that an incorrect pricing decision can mean the difference between profit and loss, but they have no idea where to start; • They think they are charging the right price, but they’re not quite sure, and they would like to validate the price, or; • They are going to be grilled on their pricing strategy by an investor or venture capitalist, and they want to speak from a position of informed authority.

6. What process, service and support do your clients receive?

So using PricingProphets is relatively simple. The first step is to create a log-on and complete a simple, once-only business profile. Once that’s done, a client can run a project, which involves answering around 40 questions on the product they

want priced. That seems a lot of questions, but most are relatively straightforward. Clients then pay for the project, we do our stuff, and in about 7 days the client gets and email telling them the results are available online to view or print.

One of my personal dislikes is websites run by people who don’t want to talk to their customers.

We’re happy to chat, and support is available on every step of the journey, either by email, telephone Skype or even Twitter.

7. What challenges did you face in setting up the business?

I’m a very optimistic person, and I don’t believe in ‘problems’ or ‘challenges’, only solutions. So the biggest ‘challenge’ associated with setting up PricingProphets was self-imposed. I set my partner and myself a deadline of 100 days to set up the business and build the website.

Did we achieve the target? No! The Australian Tax Office took longer than expected to give us our tax file number, and it took us 101 days.

8. Tell us about some of the expectations that you had.

Have they been met?

I tend to find people in business fall into one of two camps: those

15 | Modern Business Magazine

that have business plans and those that do not. I’m closer to the latter. I don’t have a formal, written business plan, other than the one in my head.

There are two reasons for that.

The first is that I can change direction quickly, without having to worry about that change of direction being in my business plan (or not). And secondly, if my expectations are not documented, then there is no disappointment if they are not achieved…but we are happy with the progress we’ve made with PricingProphets so far.

9. Who is the target market for your business?

We’ve built the service for the hundreds of thousands of SME’s who have no dedicated pricing resources, who can’t afford to attend pricing workshops or conferences, who can’t afford expensive pricing research alternatives, such as focus groups or conjoint analysis, and who want to ditch cost-plus pricing.

10. Do you provide services nationally?

Absolutely. Obviously Melbourne is our home market, but half of the projects we’ve completed to date have been for clients outside of Victoria.

Modern Business Magazine | 15

Modern Business

pricing…perhaps even more so, as we know what sort of pricing works in business markets or consumer markets.

Modern Business

M A G A Z I N E

11. Do you have any plans for overseas expansion?

That process has already started as well. We already have experts in (Australia, NZ, the USA, the UK, Singapore, India and the Netherlands), We’ve also completed projects for clients in the US and India, as well as Australia.

his channel-to-market, and if he priced his service as a percentage of school fees, there was only one way his revenue would go: up!

Watch Jon Manning, Founder & Managing Director of PricingProphet.com talking about Pricing and PricingProphets.com on Sky News Tech Report (2nd April 2012)

12. What would you say to someone looking to grow and develop his or her business?

I’ve got a couple of tips. Firstly, look to partner with organisations that have already got the clients you want. It’s a lot more cost effective than going after all those clients individually. Secondly, identify companies that are either upstream or downstream from your business (i.e. what do your clients buy before and after they buy from you) and work with them.

Finally, and not everybody can do this, but if you can, adopt a pricing model that grows with your clients’ business. One of the projects we recently completed on PricingProphets was for a company selling a safety services to parents of school children.

The experts suggested the client stop selling the service to the parents and start selling it to the schools. It would not only make the schools look concerned about safety, the schools were

Some more useful links...

Jon Manning has over two decades of global pricing management experience, and is the mastermind behind PricingProphets.com.

To speak to Jon for further information you can email him at; jon@pricingprophets.com or phone 0405 629 141 (International +61 (0)405-629-141) Find us online; http://www.PricingProphets.com Youtube; http://www.youtube.com/user/ PricingProphets Our Free Online Pricing Diagnostic & Newsletter Subscription; http://www.pricingprophets.com/ pricediag.php

16 | Modern Business Magazine

Ten Things Every Accountant (and their Clients) Should Know About Pricing

Ten Things Every Entrepreneur Should Know About Pricing

80-20 KICK BUTT MARKETING PLAN 30 Day On-line course - FREE! Now YOU Can Create A Powerfully Effective Marketing Plan To Bring A Predictable Flow Of New Clients Into Your Business …

It takes just 30 days … it’s simple … it’s proven internationally… and it’s FREE!

CLICK HERE TO SIGN UP! 17 | Modern Business Magazine

Hosted by 80-20 Founder Tom Poland Modern Business Magazine | 17

Modern Business

M A G A Z I N E

THE PACE OF CHANGE IS BEWILDERING MANY COMPANIES The $4.2 Trillion Opportunity: The Internet Economy in the G20, a report released by the Boston Consulting Group (BCG) in March this year showed that a surprising number of small and medium sized companies across the world’s top 20 economies have failed to embrace the opportunities of the internet.

BCG conducted an 18-month study of workers at more than 15,000 companies that operate in the world’s biggest economies and employ fewer than 250 people (500 people for US companies).

Definitions High-web companies use a wide range of internet tolls to market, sell and support customers, interact with suppliers and empower employees.

By contrast, the report says that businesses across the G-20 have been more wary, with a “surprising number” of SMEs not embracing it as an “important vehicle for revenue growth and job creation”.

While we have looked at this report before it is worth revisiting as one of the key findings is often overlooked. The report divides the companies into four categories: high-web, mediumweb, low-web and no-web.

By contrast, medium-web businesses market or sell goods or services online, low-web businesses have a website or social networking site, and noweb businesses don’t have a website.

“Businesses, particularly SMEs – the growth engine of most economies – have been uneven in their uptake, but they are moving online in increasing numbers and with an increasingly intense commitment.”

BCG group says across 11 of the G-20 countries, high-web SMEs have experienced revenue growth that was up to 22% higher than that achieved by SMEs with low or no use of the web over the last three years.

Size

The study also found that Australia is lagging well behind most other G-20 economies with the internet currently accounting for 25% less to GDP than in the other G-20 countries and along way behind the UK and US.

The study also finds that high and medium web SMEs generate more jobs and recorded growth that was six times as fast as those with no web presence.

“If it were a national economy, the internet economy would rank in the world’s top five, behind only the US, China, Japan and India, and ahead of Germany.”

“It has reached a scale and level of impact that no business, industry or government can ignore.”

“And like any technological phenomenon with its scale and speed, it presents a myriad of opportunities, which consumers have been quick and enthusiastic to grasp.”

18 | Modern Business Magazine

A key finding was the scale and pace of change has left many SME’s falling further behind.

The scale and pace of change is still accelerating, and the nature of the Internet—who uses it, how, and for what—is changing rapidly too. Developing G-20 countries already have 800 million Internet users, more than

M A G A Z I N E

The speed of these developments is often overlooked. Technology has long been characterized by exponential growth—in processing speed, bandwidth, and data storage, among other things—going back to Gordon Moore’s observation nearly five decades ago. The Intel 80386 microprocessor, introduced in the same year as that first domain name, held 275,000 transistors. Today, Intel’s Core i7 Sandy Bridge-E processor holds 2.27 billion transistors, or nearly 213 times as many. As the growth motors along, it is easy to lose track of just how large the exponential numbers get.

The power of exponential growth is illustrated by an ancient fable, re-popularized by Ray Kurzweil in his book, The Age of Spiritual Machines. It tells of a

rich ruler who agrees to reward an enterprising subject starting with one grain of rice on the first square of a chessboard, then doubling the number of grains on each of the succeeding 63 squares. The ruler thinks he’s getting off easy, and by the thirty-second square, he owes a mound weighing 100,000 kilograms, a large but manageable amount. It’s in the second half of the chessboard that the real fun starts.

Quickly, 100,000 becomes 400,000, then 1.6 million, and keeps growing. By the sixtyfourth square, the ruler owes his subject 461 billion metric tons, more than 4 billion times as much as on the first half of the chessboard, and about 1,000 times global rice production in 2010.

to grasp. Businesses, particularly small and medium enterprises (SMEs)—the growth engine of most economies—have been uneven in their uptake, but they are moving online in increasing numbers and with an increasingly intense commitment.

In Australia, SME’s and larger enterprises alike have been slower to take up Internet technologies than our G-20 counterparts, slowing growth, costing jobs and opportunities.

While some sectors whine about structural change and want to slow its’ pace to delay the inevitable and restrict competition, high web users are just getting on with the job and reaping the rewards.

The Internet has moved into the second half of the chessboard.

It has reached a scale and level of impact that no business, industry, or government can ignore. And like any technological phenomenon with its scale and speed, it presents myriad opportunities, which consumers have been quick and enthusiastic

19 | Modern Business Magazine

Modern Business Magazine | 19

Modern Business

all the developed G-20 countries combined. Social networks reach about 80 percent of users in developed and developing economies alike. Mobile devices—smartphones and tablets—will account for four out of five broadband connections by 2016.

Modern Business

M A G A Z I N E

CAN I HAVE THAT YESTERDAY? URGENCY ADDICTION: THE NEW CORPORATE DISEASE

By Dr Dion Klein Do you get agitated when someone doesn’t reply to your email or text message within 30 minutes? Does your boss constantly tell you he needed something ‘yesterday’ when he has just asked for it today? Do you hang up the phone on customer service when you have only waited for a minute? Are you frustrated by the slowness of people and things around you?

If you answered yes to most of these questions, you could be suffering from urgency addiction.

In his book First Things First, widely known author Steven Covey highlighted “Urgency Addiction” and stated that few people realise how the sense of urgency affects their lives. Many get so used to the adrenalin rush from attending to perceived urgent matters they become dependent on it ‘for a sense of excitement and energy’ just as a gambler needs his betting game or a drug addict needs his ‘fix’.

When the feeling is constant, the feeling then becomes ‘normal’ to the addict.

Covey defines urgency addiction as a “self-destructive behaviour that temporarily fills the void created by unmet needs”.

Another definition is having the urge to live and do everything in haste. This behaviour can

become self-perpetuating and get worse the more we repeat the pattern. True, there are times that deadlines must be met and unexpected matters need to be attended to immediately, but it is when urgency becomes the ‘ruler’ of our life without realizing that what we are urgently attending to is the least bit important.

Some managers get a temporary high from solving urgent matters which can sometime correlate to their own personal sense of importance or security. An example of this is when managers give tasks to fellow employees resulting in redundant paperwork. Covey states, when the importance is not there, “people will be drawn to anything urgent, just to stay

20 | Modern Business Magazine

in motion.” If and when the person ‘stops’, the feelings of ‘false uselessness’ may become overwhelming. When this motion stops, the person may realize that his or her role is fairly insignificant which may then lead to insecurity. From this, other mental health issues may arise such as depression.

If someone asks “How’s work”, the usually response is “Busy. Things are real busy,” with a sense of urgency in the respondent’s voice. There also comes across a sense of importance for the individual.

Public perception is the important people are busy people and vice versa. It has become a status symbol.

How many people use their

M A G A Z I N E

How did we get this way having this constant feeling of urgency - which has thrown many lives out of balance? Firstly, technology has heightened our urgency addiction. For example, how many times has someone rang you in the afternoon to see if you got the email he/she sent earlier that morning and then wondered why you hadn’t responded? One of the vendors I was meeting with at his office took a call.

One of his clients rang to make sure he got the email he sent 30 minutes ago for he hadn’t had a response. Obviously that person must have thought he was his only client.

Mobile phones have increased the need (“false need”) to ring someone immediately to get an answer about something that is probably not very important.

And if we cannot phone them,

we can SMS them to which they can reply quickly. How many times have you been at a meal with a friend, your mobile phone rings, and you ‘have to take the call’ when you know you haven’t been expecting one?

One’s urgency addiction to the phone can be seen by some as just being outright rude. It has only been over the past 10 years since technology sees to have replaced our sense of patience to an overwhelming sense of urgency now that we can access the internet and mobile phones 24/7.

The sad part is that this behaviour is now being accepted as ‘normal’. Society has ‘culturally-sanctioned’ this sense of urgency as routine which has filtered into the workplace. What is the culture of urgency in your workplace? Are you in a situation to where you are chronically overcommitted and are unable to get all the things done that you intended to do? Are you experiencing ‘information overwhelm’ and have difficulty learning and

21 | Modern Business Magazine

retaining new information? Do you feel guilty when you are underproductive? If you work in an environment that is one of urgency, the organisation may be suffering from “Corporate Attention Deficit Disorder (A.D.D.)”, a term coined by expert Rand Stagen. He states that Corporate A.D.D. affects both individuals and organisations and is “a condition of involuntary distractibility characterised by an unfocused, urgency-driven, reactive work style”. The workplace tends to create this hyperactivity if the culture of the organisation is one of urgency. Many workplaces do not even realise it is constituting this type of environment.

Urgency addiction, as with any addiction, has a negative effect on your overall wellbeing and quality of life. Though confronting, it is important for employees and employers to identify the unmet needs that the urgency patterns are fulfilling. These unmet needs may include relationships, intimacy with others and self, a

Modern Business Magazine | 21

Modern Business

‘busyness’ as a false sense of their own importance? These same people will most likely use the ‘busy’ excuse for not dealing with the real priorities and issues in their life.

Modern Business

M A G A Z I N E

sense of purpose, and security.

The body can become physiologically dependent on the adrenalin which comes from the urgency. Urgency addicts tend to consume large quantities of caffeine and other substances that hype the metabolism. This constant state of distress, or constant hyperarousal, can take a negative toll on the body over time and lead to heart disease, hypertension, and headaches. In addition to the physiological stressors on the body, other dangers of this feeling of constant urgency include compromised effectiveness, damage to important relationships, and losing ‘control’ of your life.

Breaking the ‘urgency’ pattern can be a challenge but there are strategies you can implement to break the habit. Firstly, become more aware of how you spend your time and determine if YOU create the urgent matters (versus someone else). Plan your ‘To Do’ lists based on

importance and priority rather than ‘urgent’ matters. Find a quiet place, sit down, think and clarify what is most important (ie., roles, goals) to you and then write it down and commit to it.

Determine if your workplace is discouraging or encouraging life balance. Are the demands being placed upon you realistic or urgent (e.g. are they lifethreatening emergencies)?

We live in a very fast-paced society which talks about ‘slowing down’ and life balance but seems to struggle in practice. Employers have a duty to identify those that have tendencies towards urgency addiction as well as do some self-reflection in the organisation. Without doing this, the organisation may crash and burn similar to a speeding car losing control on a curve.

22 | Modern Business Magazine

Dr Dion Klein is a Business and Life Strategist, and is Director of Healthy Worksites, a company specializing in corporate wellness strategies for the public and private sector. To find out more about Dr Dion and his various areas of expertise, go to http://www.drdion.com.

23 | Modern Business Magazine maxiom

Modern Business Magazine | 23 | 39 Outsource Resource Magazine

Modern Business

M A G A Z I N E

BRING YOUR GUN TO A KNIFE FIGHT

By Richard Wozniak

Every entrepreneur want to keep their business agile, relevant, adaptable, and profitable.

And there is a way to do all this thanks to our friends in accounting. It’s called Zero Based Budgeting and it can be one of the biggest guns in your arsenal defending your business against shrinking margins, bloat, obsolescence, and irrelevance.

Zero Based Budgeting or ZBB, elevates financial forecasting to another level. It’s a gun brought to a knife fight, so to speak.

Definition Zero-based budgeting is an approach to planning and decision-making which reverses the working process of traditional budgeting.

In traditional incremental budgeting, managers justify only variances versus past years, based on the assumption that the “baseline” is automatically approved.

By contrast, in zero-based budgeting, every line item of the budget must be approved, rather than only changes.

During the review process, no reference is made to the previous level of expenditure. Zerobased budgeting requires the budget request be re-evaluated thoroughly, starting from the zero-base.

This process is independent of whether the total budget or specific line items are increasing or decreasing.

Fundamental Difference So the fundamental difference from traditional forecasting is the approach: ZBB is goal based and not history based. It analyzes future needs independently of the past. The numerical presentation won’t look much different, except you’ll be creating projections based on future actions instead of prior history. There will still be numbers plugged in the usual spots on your budget.

What will be the BIG difference is how you arrive at those numbers.

In ZBB, assumptions will be primarily based on the targets and needs of the upcoming period, with little concern for the prior period.

There is a great parable from the heydays of Total Quality Management (TQM) that says it all.

24 | Modern Business Magazine

Every Easter, a woman baked a ham. Before putting it into the oven, she slices off the end.

One year, her husband asked her why. She replied, “Because my mother always did it.” She then calls her mother and asked her why she sliced off the end of the ham before baking it. Her mother gave her the same reply “Because my mother did it.” So, they both called the grandmother and asked her the same question. Her grandmother’s answer? “Because my pan was too small.”

Social Scientists call this Path Dependence. It explains how the set of decisions one faces for any given circumstance is limited by the decisions one has made in the past, even though past circumstances may no longer be relevant.

THE “MUST READ” MAGAZINE FOR ALL BUSINESS LEADERS AND ENTREPRENEURS

Starting Point ZBB cuts to the core of this and is exactly why we champion it. It looks at our expenses in terms of what we need, why we need it, and what the alternatives are. So, here’s the basic format for you to begin. Yes, it’s an oversimplification but it offers a good starting point.

•

What is it?

• Why do I need it?

• Will it make or save money?

• Is it necessary or discretionary?

• What would be the result of not having it?

Now, for the most important ZBB question of all - drum roll please...

•

What are the alternatives?

MODERN LEADERSHIP MAGAZINE

A few things to keep in mind if you make the move from standard budgeting to ZBB: • Wholesale changes to financial reporting are a lot like introducing the emperor to a new tailor. There are a lot of opportunities for “exposure.” Don’t jump into zero-based budgeting for every department at once.

Think of it as eating an elephant: The best way to do it is one bite at a time.

• The success of any change is largely dependent on a leadership who is dedicated to it.

Never lose sight of your values, core competencies, or brand promise. The purpose of any type of financial forecasting is to prioritize your goals not become a goal on its’ own.

And if you want to add a layer or 6 of sophistication: • What are the alternatives at varying budget levels?

25 | Modern Business Magazine

CLICK HERE TO GET YOUR FREE COPY DELIVERED DIRECT TO YOUR INBOX EVERY MONTH

Modern Business Magazine | 25

YOUR BUSINESS Experts:

Business Development Alliance

“Strategise Systemise Commercialise” Franchising has been a highly successful and popular business development strategy for several decades. This success has resulted in many new franchise systems.

When looking for franchising advice there is one characteristic every great franchise exhibits, as Mark Fernandez from Business Development Alliance explains.

1. What inspired you to start BDA? What are your goals and values?

have a lot to offer anyone either entering or already immersed in the sector.

capabilities and experiences to assist any small business find its growth path.

BDA has been servicing the Franchise and Business sectors since 2002 and we have grown into one of Australia’s Premier Management Consultancy. Our values enable us to express what we do and what we believe in, which, in turn enables us to put into practice what we are committed to, which is – excellence in everything we do.

3. What experience do you have helping franchise sector clients?

5. What are the main reasons that someone would choose BDA to assist with developing their business?

Our goals revolve around providing the best advice, service and education to Franchise Networks whilst assisting and educating prospective franchises to become more profitable.

2. What was the driving force behind your decision to specialise in the franchise sector?

Its all about passion!!! This sector demands a high level of passion and determination. With our never ending search for excellence coupled with our experience we believe that we

We have been involved in the Franchising sector for over 40 years and have experience across all facets of franchising.

With this vast experience we believe our clients can only benefit from what we have learned along the way and that brings expertise to the table when making those critical business decisions.

Our Director is a Committee Member of the Franchise Council of Australia WA Chapter and is intimately involved in a number of well recognised brands within the sector.

4. Do you service other sectors as well?

Yes, we have worked in many sectors assisting business grow including; manufacturing, retail, hospitality, shipping and wholesale. We have the

26 | Modern Business Magazine

Businesses choose BDA as we assist in finding the right growth path. We will determine wether Licensing, Agency Agreements, Dealerships, Co-Operatives or Franchising is the best way forward. Most business understand the need for control when expanding however, may not be aware of the boundaries in which that control can be exercised.

We have had many clients overthe years that just need good, sound business advice and that’s where we come in.

A ‘sounding board’ for senior management and for those franchises that need assistance along the journey.

Modern Business

M A G A Z I N E

6. What process, services and support do your clients receive?

We provide a ‘one stop shop’ for franchising your business. We undertake all activities in setting up a franchise; everything from completing the Viability Study, Financial Modelling, Scripting Operation Manuals to Training and Recruitment

Mark Fernandez - brings over 20 years of senior management experience in business development and franchising to your business.

8. Do you provide services nationally?

The real workstarts after the launch of a franchise, we then take a ‘coaching’ role in the organisation just to keep things on track and to enable the practical application of the system is actually in play.

Yes we do, we have worked inall states and territories in and across our beautiful country.

7. Who is the target market for your business?

Typically we find that business looking to grow and have heard about franchising but not really sure what it’s all about. Yes they know of the major brands but are looking for a guiding hand to take their business to a new level.

Business that have been operating successfully for at least 12 months and are profitable are now looking to expand. With this in mind, setting the structures and putting the infrastructure in place for growth can be a costly exercise and without sound advice can leave you exposed and put your business at risk, hence we are finding more and more entrepreneurs seeking professional advice.

27 | Modern Business Magazine

9. Do you have any plans for overseas expansion?

We are looking to for international affiliates with companies that have the same values and principals as us.

12. What would you say to someone looking to franchise their business?

The key here is to get good quality advice. If you want to be successful in an industry that employees around 650,000 Australians and contributes more that $140b to the Australian Economy, then you need to have a relentless search for excellence. Surround yourself with the best advisors that you can afford and get out and chat to people in the industry – these are my top tips for business that are looking to grow through franchising.

Modern Business Magazine | 27

Modern Business

M A G A Z I N E

THE WAR FOR TALENT IS GETTING BLOODIER AND DUMBER By Wally Hauck In the New York Times, a few weeks ago, Facebook CEO Mark Zuckerberg made a comment that caused me to throw up just a little bit in my mouth.

“Someone who is exceptional in their role is not just a little better than someone who is pretty good, they are 100 times better.”

Just like Jack Welch who still gives high praise for the false notion that his omnipotent process of rating, ranking, and firing the bottom 10% was a key to his success at GE, Zuckerberg has made an arrogant remark that places credit for the incredible success of Facebook on a false premise. By implication he claims he is exceptional and that exceptional people are the main factor for the success of Facebook’s meteoric growth.

Sure talent is important, but the quality of the interactions in a system is more important than the quality of the people. Anyone who knows something about systems thinking will know that and will avoid making an arrogant statement like that.

Bill Walsh, one of the very best NFL coaches ever said it best when he explained that “players are only as good as the system that they play in.” You would think after 30 years of books and education about systems thinking that the people as smart as Welch and Zuckerberg would have been more well-read.

Here is an example. Our microwave stopped working.

Our family depends upon the microwave in ways I could never have imagined years ago. I started to experience “microwave withdrawal.” I told my wife, Lori, I would look up the best model on the Consumer Reports website. I found the Sears’ Kenmore rated near the top. I suggested we buy one. She said OK. Later that day she informed me that there is a discount “scratch and dent” Sears’ store. She suggested we go there first. I agreed. I looked up the MapQuest to get the directions. I drove because the car is larger and that makes it easier to transport the new oven. Also, it would have been difficult for Lori to inspect the microwave by herself. They are heavy and difficult to handle alone.

The “scratch and dent” had an oven we wanted. I brought a tape measure to be sure the new one would fit in the space. I picked it up so Lori could inspect it on all sides to be sure there were no other blemishes. Everything looked great.

I asked the attendant if he could help us bring it to the car. He said he would. He told me where to move the car for the loading dock. Lori paid for the microwave.

So which one of us was exceptional in this project?

28 | Modern Business Magazine

How could anyone decide fairly who worked harder or who was smarter? Should one of us get a bonus? Which one? Should one of us be promoted? Should one of us be fired? Which one?

It is NOT about “who the exceptional person is” Mark and Jack! In a system results come from the quality of the interactions between the people not the quality of the people. Anyone who knows systems thinking knows this.

Learn how to improve employee engagement in your team: http://www.wallyhauck.com Learn to improve leadership skills - The Art of Leading: 3 Principles for Predictable Performance Improvement:

Jelden Recruitment Brand | Culture | People

Because When You Want the Best People for Your Business You Want the Best People in Recruitment We worry about finding the best staff for you so you don’t have to worry about it!

No matter what size your business Jelden treats you like you are our only client.

Unrivalled Service and Expertise Full service recruitment without the pushy sales & hype A global network with a wealth of experience & expertise We share information, knowledge and experience for the benefit of clients and candidates Four way fulfilment methodology, search, selection, portfolio networking, online Recruitment Marketing Solutions Business Growth & Staff Planning Assistance SaaS Staffing & Recruitment Management Software

Brand | Culture | People

www.jeldenrecruitment.com 29 | Modern Business Magazine maxiom

Modern Business Careers Magazine | 29 | 7 Careers Magazine

Modern Business

M A G A Z I N E

10 TRAITS THAT MAKE GREAT EMPLOYEES OUTSTANDING Everyone knows great employees are dependable, reliable, proactive, great team players, have strong work ethics… all the standard (yet often uncommon) qualities.

So what traits take a great employee to the next level and make them a truly outstanding employee?

The extra 1%: The qualities that often go unnoticed (and unremarked in performance evaluations) yet make a major impact on performance.

Here is our list of qualities that make an already great employee outstanding:

1. A little bit “off.”

The best employees are a little different: Quirky, sometimes irreverent, happy to be unusual… they seem slightly “off,” but in a really good way. Unusual personalities shake things up, make work more fun, and turn a vanilla group into a team with flavour and flair. People who aren’t afraid to be different stretch boundaries, challenge the status quo, and often come up with the best ideas. But for this to be a great quality, the people who are a little “off” also need to…

2. Know when to reel it in.

A non-standard personality is a lot of fun until it isn’t.

When times get tough, major challenges pop up, or situations become stressful, even the most eccentric should know when to set aside their desire to express their individuality and fit seamlessly into the team.

Outstanding employees know when to play and when to be serious, when to be irreverent and when to conform, and when to challenge and when to back off. Tough balance to strike, but outstanding employees walk that fine line with ease.

4. Eager to prove others wrong.

3. Ignore job descriptions.

5. Praise in public.

The smaller the company the more important it is that employees think on their feet, adapt quickly to shifting priorities, and do whatever it takes, regardless of role or position, to get things done.

When you are in danger on under-delivering on a key customer’s account, outstanding employees know without being told there’s a problem - and jump in without being asked, even if it’s not “their job.”

Few things can boost morale more than praise from a peer, especially a peer you look up to. Outstanding employees recognize the contributions of others, especially in group settings where the impact of their words is even greater. But they also know when to…

30 | Modern Business Magazine

Self-motivation often springs from a desire to show that doubters are wrong. Like a “red rag to a bull”…so to speak.

The young employee without a degree or the mum returning to the workforce who was told she didn’t have leadership potential could have a burning desire to prove themselves. Education, intelligence, talent, skill - all are important, but drive is critical.

6. Complain in private.

We all want employees to raise issues, but some problems are better handled one-on-

M A G A Z I N E

7. Ask questions for others.

Some employees are hesitant to speak up in meetings. Some are even hesitant to speak up privately. For example, an employee once asked me a question about potential layoffs.

After the meeting I said, “Why did you ask? You already know what’s going on.” He said, “Yeah, I did, but a lot of other people don’t - and they needed to hear the answer from you.”

Outstanding employees have a feel for the issues and concerns of those around them and step up to ask questions others are hesitant.

8. Work to a Plan.

10. Entrepreneurial.

In an era of flexible work places and when many employees are more mobile, work from home or hold meetings in cafes, the notion of start and finish times is often out-dated or irrelevant.

But great employees always seem to hit the ground running at the start of the work day. Truly outstanding employees plan their week well ahead, start early and finish on time, reviewing each day, making sure that they achieved what they set out to and planning for the next day, before they “clock off”.

This is often a contentious quality that some employers fear. But outstanding employees exhibit entrepreneurial qualities such as vision and self-motivation which are vital for any organisation to reach its goals. Having employees that share your vision, can see where your industry is heading and what the future will look like is a key factor in modern business success.

Entrepreneurial employees are known for seeing things from a different perspective, disrupting the “status quo” and “breaking the rules”. Better that you lead the direction of your industry than let your competitor take it.

9. Tinker.

Some people are rarely satisfied in a good way - and are constantly playing around with something: Reworking a report, tweaking a process, experimenting with a different workflow. Great employees follow processes.

Outstanding employees go a step farther and find ways to make those processes even better, not just because they are expected to but because they can’t just help themselves.

31 | Modern Business Magazine

Modern Business Magazine | 31

Modern Business

one. Great employees often get more latitude to bring up controversial subjects because their performance allows greater freedom. The employee who comes to you after a meeting to discuss a sensitive issue that if brought up in a group setting would have set off a firestorm does you and the business a favour. And speaking of favours…

Modern Business

M A G A Z I N E

HOW TO KEEP YOUR EMPLOYEES ENGAGED

By Kristin McNicol Do your employees see their jobs as a dead-end street? A recent study from Accenture that focused on executive-level professionals found more than half of employees were dissatisfied at work. Despite this, the majority (69 percent) had no immediate plans to look for a new job. But these plans could easily change if employees feel there is more opportunity for them elsewhere.

Smart companies will use this time while employees are not job-hunting to increase employee engagement, advised Adrian Lajtha, Accenture’s chief leadership officer, in announcing the results.

“Companies must capitalize on this moment in time to equip their people with clearly defined career paths that include innovative training, leadership development and opportunities for advancement.”

The study, “The Path Forward,” found the biggest reason employees were dissatisfied at their jobs was the lack of opportunity for advancement.

Forty-two percent cited this issue, compared to just 20 percent who cited a clash between job and family responsibilities.

Even though they may perceive no immediate room for advancement at their current companies, the study found employees are taking steps to

help themselves advance in the future, including taking on new roles or responsibilities at work (58 percent), getting additional training and education (46 percent) and working more hours (36 percent).

How can you ensure your employees aren’t dissatisfied at work?

• Start by talking to them.

Just taking the time to meet with your employees and see what their goals for their careers are can go a long way toward making them feel understood and more engaged.

• Work with employees to identify opportunities.

Even if you don’t have the budget for salary increases or aren’t able to offer promotions & careers advancement, consider

32 | Modern Business Magazine

steps such as crosstraining employees in new roles or giving them added responsibility and autonomy.

• Encourage development of new skills. Paying for employees to take training courses or get advanced degrees may be out of your budget, but look into free or lower-cost options offered by industry associations and mentoring organizations. If you can pay for part of the costs, that’s great. If not, you can still show your support by giving employees flexible hours that will help them attend training and study to develop their knowledge, skills and leadership capacity.

4321 FIRST STREET LOREM ET $525,000

Increase sales and grow your business all through the power of storytelling. .Y e in s rB u o w G T e tm s rC u o Y ih tW c e o C d n A lo S s Ira g iy u tfB c h T n e L s a le E o h W

This online coaching program contains over 30 individual modules with video, worksheets, audio and full transcripts.

Ability to ask questions and submit stories for feedback and receive individual, detailed responses.

Full access to other participants questions, stories and our feedback which significantly deepens your learning.

What others have said...

“The Success Through Stories online coaching program was beyond my imagination.

The quality of the content is exceptional.”

Kristin Owen, Kumon Franchisee

“The program not only provided me with a deeper understanding of the subject, it also sharpened my skills. Above all, it inspired confidence. Credit goes to Gabrielle and Yamini, whose feedback I valued most.”

Sai Keng Choy, Singapore

Access to material 24/7 for 12 weeks from the time you start training.

Cost is $850 (GST Inclusive)

For further information and to register go to

“What a wonderful experience it’s been soaking up your storytelling knowledge and applying it to my business. You really sharpened up my game over the course. It’s great to have a full kit of easy to use storytelling tools. I’ve already used several of my stories to effect.”

Paul Kaan, The Social Larder

www.successthroughstories.com/register

33 | Modern Business Magazine

Modern Business Magazine | 33

CAREERS MAGAZINE

INTRODUCING A DIFFERENT KIND OF RECRUITMENT SERVICE Maxiom Jobs is built on our network of digital publications with over 300,000 business leaders and talented professionals subscribing across a wide range of industries and sectors, you can now reach a greater pool of active and passive job seekers.

For Employers

For Recruiters

For Candidates

Utilising this network of subscribers, we help you find and identify the best talent that fits your organisation’s culture, business goals and vision.

Advertise your vacancies on Maxiom Jobs and get access to the best talent across a wide spectrum of industries and sectors.

Maxiom Jobs offers job seekers unprecedented access to the best jobs and employers.

From as little as $99.00 per year you can post unlimited job vacancies on the Maxiom Jobs web site.

From just $199 per year you can post unlimited vacancies, search our candidate database, add screening questionnaires, add video to job postings, create a profile page for your firm and unlimited profile pages for your clients.

You can also pay a small premium to have you job ad appear in one or more of our industry or business publications.

Maxiom Jobs covers all industries and sectors. With over 300,000 business leaders and professionals subscribing to Maxiom’s digital publications, we can help you secure the best talent.

Maxiom Jobs offers you everything the paid jobs boards do and more. And with more features regularly being added to our site, you won’t be disappointed by the ease of use or the quality of the candidates.

Accessing a pool of prequalified talent has never been easier.

34 | Modern Business Magazine

With thousands of business leaders, CEO’s, recruiters and hiring managers subscribing to our digital magazines, posting your resume on Maxiom Jobs is the best way to get found and secure the role you truly desire.

Add video resumes, sign up for job alerts and link your Social Media accounts to improve your chances of landing the right job.

Maxiom Jobs also provides free advice and tips for job seekeers with practical help for getting the right job.

Best of all, it’s completely free and open to everyone!

maxiom Group of Companies

Maxiom Jobs

A DIFFERENT KIND OF RECRUITMENT SERVICE

Think Big…

Aim Higher…

See Beyond…

All Industries

Top Performers

Qualified Talent

Maxiom Jobs covers all industries and sectors. With over 300,000 business leaders and professionals subscribing to Maxiom’s digital publications, we can help you secure the best talent.

Partnerships with the leading businesses, associations and not-for-profits help you to reach a targeted, highly desired audience.

Pre-qualified pool of passive and active candidates and the hiring managers who seek them

www.maxiom.com.au maxiom 35 | Modern Business Magazine

Modern Business IntelBuild Magazine Magazine | 45 |3 Modern Business Magazine | 35

Modern Business

M A G A Z I N E

GETTING TO KNOW YOU: 8020 CENTER 1. What inspired you to start the 8020 Centre? What are your goals and values?

Well firstly I really like to make money!

I know that may not be a trendy thing to say but it’s true.

And it’s also true that I love to see the impact on a client’s business life and the significant improvement in the quality of their family and personal lifestyle when their marketing goes well.

One of my core values is to publish marketing training, templates and systems that actually work and that are outstanding value for money.

I also like to keep things simple.

Another core philosophy is that I don’t want people to feel that they have to trust me when handing over money to me for a product or service. I prefer for them to gain outstanding value before they pay me a cent. That way we both sleep well at night.

Once someone has received great value from me and I’ve had that chance to prove that what I offer actually works, then I’m happy to talk money. But not before.

2. What was the driving force behind your decision to specialise in the small business marketing sector?

How does 32 years, over 2,ooo clients, 197 different industry types spread over four continents sound?

In regard to my chosen target market: I dislike corporate bureaucracy with a passion and by contract I like fast decision makers and pragmatists. So almost by default that means I want to work with business owners but not necessarily just the small ones. Anyone who has the autonomy to make decisions and the courage to back themself rather than blame someone else, that person is my ideal client.

4. Do you service other sectors as well?

Secondly in regard to why I chose to specialize in marketing services: I like to go where the demand is and in survey after survey, business owners cite getting more clients as their number one need.

Marketing is also a very honest profession in that you either get new clients or you don’t. I like the measurability and accountability that goes with that as opposed to some of the fuzzier touchy feely business disciplines.

3. What experience do you have helping small business clients?

More than I care to remember.

36 | Modern Business Magazine

I’ve been approached and completed marketing strategy consultancy work for national and international organizations including NFT, corporate and educational institutes. But I don’t go looking for that work. If the enquiry looks interesting and they are prepared to pay and they are serious about cutting through red tape and getting effective marketing in place then I’m happy to talk.

5. What are the main reasons that someone would choose the 8020 Centre to assist with developing their business?

Firstly, people can try before they buy. We have various opportunities for a prospect to get great value from us without investing one cent.

Secondly, our stuff works.

Thirdly, what we teach is simple and can be implemented by any business owner who had a modicum of determination and persistence.

M A G A Z I N E

8. Tell us about some of the expectations that you had.

Have they been met?

12. What would you say to someone looking to grow and develop their business?

A free marketing plan course (21 modules over 30 days delivered online) www.8020Center.com/ FreeMarketingPlan/

That’s a hard one to answer because I keep moving the goal posts! It’s like I get to the top of one mountain and then see the peak of a higher one and go for that.

Get your product or service so that it works very well.

Free daily marketing ideas from world renowned experts called the “Business Owners Marketing Brief” (BOMB) www.8020Center.com/Bomb/ There are also various products in our online store and other programs but it’s best for anyone interested to sign up for the free marketing plan course and the BOMB. 7. What challenges did you face in setting up your business?

I guess the hardest thing was coming up with a business model that gave me both the lifestyle and free time I wanted together with making marketing and value delivery as easy as possible.

I had a big advantage though because my objective is setting up a business like that is pretty much what I teach my clients so it was really just a matter of swallowing my own medicine!

So in short, I’d have to say “no” to the question. I don’t think that I will ever be satisfied with my business. I simply don’t like the idea of not continually improving what I offer.

Then focus your time and energy on becoming an expert marketer for your product or service.

That’s where the money is and once mastered, many find that marketing is extraordinarily fulfilling because the better you are at it the more people you are able to help.

9. Who is the target market for your business?

Any English speaking business owner who want to get more clients, make more money and have more fun.

10. Do you provide services nationally?

Internationally to any English speaking business owner in any country in the world.

11. Do you have any plans for overseas expansion?

Already doing it. And I love it. I have clients in Africa, Europe, North America, Asia and of course Australian and New Zealand.

37 | Modern Business Magazine

Tom Poland is a serial entrepreneur and the founder and director of 80-20 Center and shows business owners and business coaches how to “get more clients, make more money and have more fun”. www.8020Center.com

Modern Business Magazine | 37

Modern Business

6. What process, services and support do your clients receive?

Modern Business

M A G A Z I N E

CONTENT IS NO LONGER KING – IT IS MASTER OF THE UNIVERSE Content Marketing has become the most powerful factor in marketing, engaging, connecting and interacting with your audience. This is because unlike other forms of communication, the audience selects you as the person or business with which they wish to build a relationship. But get it wrong and you risk losing your audience for good.

We all hear phrases like “content is king” more and more these days, particularly as search engines reward relevant and original content by ranking it higher in search results. That is why many companies around the world allocate over one third of their marketing budget to content marketing alone.

“Content marketing” have become “buzz words” and all the rage just like “social marketing” and “SEO”. Everybody is talking about it. Many are doing it…but very few of them well.

In fact, I see far more content marketing failures than I see organisations doing it well. It’s an honest mistake an organisation makes. For most, content marketing is new territory and rarely are we good at something when we first start doing it.

If you’re just starting out with content marketing, you are almost definitely making some of these mistakes.

Low quality Content or Article “Spinning” Recent changes to Google’s algorithms have resulted in SEO tactics becoming less relevant so producing low quality or “spinning” content will see you penalised in search rankings.

After all, their business is about providing quality answers to your search questions.

They know that you don’t want 100 spun versions of the same piece of content showing up in search results. Unless their search results are relevant and provide quality information, their customers will look elsewhere.

Yet there are still content marketing and SEO “spruikers” out there masquerading as experts charging thousands of dollars to implement these outdated tactics.

Likewise, content that is clearly marketing or sales copy will not show up in search rankings either. Again, their business is about providing answers not marketing messages, which is

38 | Modern Business Magazine

why if you want to advertise on Google, they charge you for the privilege.

Hiring an Advertising Agency or PR Firm As the business landscape changes, advertising agencies and PR firms have been offering more services to satisfy their clients’ needs, such as content marketing and social media services.

This might seem a natural progression as these firms know how to write and produce video for marketing purposes, it should be a natural shift to do the same editorially. It’s not.

Unless the advertising agency or PR firm already has a staff of former journalists and TV producers, it’s not a natural shift just like it wouldn’t be a natural shift for a journalist to start writing marketing copy.

Of course these firms can still physically create media without seasoned editorial staff, but it’s

M A G A Z I N E

Many advertising agencies and PR firms are basing a lot of their new business on content marketing. And this is perfectly fine so long as they have experienced staff to do it. This requires hiring people who have worked in traditional journalistic media, not just giving new responsibilities to staff who don’t have the experience or training.

Traditional media is very different from creating advertising copy.

Treat content marketing like marketing This is one of the net results of hiring an ad agency or PR firm to do content marketing. Because their head is so steeped in creating marketing and delivering for the client, it’s very hard to break away from it. “Marketing” is in the title of “content marketing” so why not treat it like marketing?

People are forced to watch ads, but they choose content If it appears that your content is really marketing in disguise, your audience will sniff it out and avoid it.

There are rare exceptions to this rule such as truly entertaining commercials that people like to watch on YouTube.

The core problem is in the name “content marketing.” It sounds insidious. We’re giving you content, but we have an ulterior motive and that’s to market to you. The term I prefer which I think is a more apt title that speaks to the viewpoint and the skills needed is “brand journalism.”

Try content on a limited basis, and give up quickly Sadly too many businesses fall into this category. Before you embark on any content marketing you have to calculate time into your strategy.

Rarely do companies have that kind of patience with any marketing & communications.

After all it’s understandable that if you spend money you’ll want to see some results for your efforts.

The problem is measuring a content marketing campaign is unlike measuring a marketing campaign.

Content’s value is cumulative.

Initially, you won’t see the results like you would from a pure

39 | Modern Business Magazine

marketing effort, but over time results will increase, sometimes dramatically.

No magazine built a brand with its first issue. It takes many issues, trial and error, to build an editorial voice, a brand, and a following.

They don’t “get involved” in social media Traditional marketing doesn’t require involvement with your audience. It’s something that can be outsourced and you don’t have to get your hands dirty.

Not the case with social media.

Social engagement should be part of any content marketing effort. Unlike most services, this isn’t one that someone can “just do for you.”

You need to take a level of responsibility yourself, and that requires building a social presence and that takes time.

Have extremely high expectations about fast results and increased traffic This coincides with giving up quickly.

Many entrepreneurs eat, drink and breathe their company’s

Modern Business Magazine | 39

Modern Business

like hiring a general practitioner when you need a specialist. They can only sort of help you.

Modern Business

M A G A Z I N E

marketing messages. If you’re so steeped in it you lose perspective and think the rest of the world has been desperate to hear more about you and once your story gets out there they’re going to be busting down your doors.

It’s not going to happen. Unless you already have a brand with an extreme loyal following, no one cares about you. Everyone cares about themselves.

Believe there’s a direct correlation between site traffic and inbound sales calls It rarely works that way. Have you ever purchased something solely after reading an article or seeing a video a single time?

Probably not, so why would you believe there are other people out there that do. Direct sales shouldn’t be content marketing’s purpose. That’s the purpose of marketing. Content marketing helps you build greater brand affinity and trust. It plays into many other critical factors, such as: 1. Increasing brand value 2. Increasing audience trust 3. Humanizing your business 4. Connecting with industry influencers

5. Creating assets to be traded via social media 6. Creating assets that are visible in search 7. Increasing the value of your services 8. The asset itself and the process of creating it is what creates value. Have a narrow view of production Many people will contact a marketing firm and state “We want to make a video” and immediately the first question is “How much does that cost?”

Which is the equivalent of asking, “How much is a car or a holiday?”

In all cases, someone who wants to “make a video” has a bigger problem to solve, and that should get into discussions of strategy and whether this video will be the solution to that strategy.

But a greater concern is that if you focus all your efforts on just one video it can get very costly to just create a single item and that means you’re putting a pretty heavy gamble on one single piece of content.

Conversely, multiple units of original content will be far more cost effective and provide greater flexibility to your marketing efforts and enable you to engage your audience in different ways. And notice I said “original content”

40 | Modern Business Magazine

not spun content. For example, instead of going to a conference and producing one video of the event, why not produce multiple videos (with different content), articles, photos, a podcast, and maybe also a summary of the event? All of that is going to yield much greater output, make you more visible, and your per unit (video, article, photos, podcasts) costs will be a fraction of that original video you wanted to create. An interesting point to note is that long form videos (those over 10 minutes in length) are the most popular with viewers.

Conclusion: Pay attention to your audience first Being self-centred with content production only works for a select few that have already established a powerful brand.

For organizations that are just starting out you must always play to your audience. It’s a great rule of thumb. Before you create any piece of content ask yourself, “Why would anyone care about this?” If there isn’t a compelling reason, then move on to another content effort.

Remember, unlike traditional marketing, content marketing is user selected.

So make something the user wants to select.

Latest Technologies Here at Telecube we aim to do things a little differently. We will provide your business with services that are feature rich and economically efficient. Then we’ll give you control over those services. You can change everything, online and in real time, every time.

1300/1800 Numbers VoIP Phone Systems Email to Fax AutoProvisioned Hardware Auto Attendant (IVR) NZ 0800 Numbers

VoIP Phone Systems

A complete range of PBX functions at a fraction of the cost

100% Satisfaction Guarantee 1300 Numbers : 1800 Numbers We guarantee that you will be satisfied with our available 1300 number selection. We handpick our numbers and they are almost always better numbers than the others are touting as ‘Gold Numbers’ or ‘Premium Numbers’ We absolutely guarantee that if you are not 100% satisfied with the numbers available to you we will refund 100% of your signup.

Signup Now Are you ready to signup with the #1 provider of 1300 numbers and 1800 numbers? Click through to the signup process and you’ll have your new number up and running in a few minutes.

41 | Modern Business Magazine maxiom

Modern Business Magazine | 41| 27 Outsource Resource Magazine

Modern Business

M A G A Z I N E

AUSTRALIAN RETAILERS STILL CONFUSED BY ONLINE The Australian Retail Adoption Plans for Online Advertising and E-tailing report released by AIMIA has provided some interesting insights into Australian retailers’ online dilemma. The report shows more retailers are moving online, but not many are actually selling.

Less than half sell online The report found that while 75% of Australian retailers now have an online presence, only 43% of them are actually selling online.

33% of retailers with 100+ stores do not even know how much online sales contribute to their total sales revenue.

Another worrying finding is that 88% of Australian retailers are advertising on the web, even though some of them don’t have a website!

And almost one third of retailers are leveraging social media even though they don’t know how to extract maximum value from it.

The report also revealed that retailers regarded advertising as the most important function of their website!

Repeating the same mistakes The findings are worrying as the internet is not an advertising medium.

The other fact is that online

advertising still doesn’t work very well.

least effective online marketing techniques.

The fact that so many businesses believe the web is an advertising medium - we assume that they are most likely being told this by their advisors - just highlights the lack of expertise in the online business world.

Again this merely highlights the retailers’ lack of knowledge and experience and the out-dated advice being given to them by their advisors.

Using out-dated tactics

• 36% of retailers rely on agencies,

Another worrying finding is that Search Engine Optimisation (SEO) and Search Engine Marketing (SEM) are regarded as two of the most important online marketing techniques.

Unfortunately, SEO is pretty much dead as a strategy.

Google has been working hard over the last couple of years to ensure search results can’t be manipulated by SEO practices.

Recent Algorithm updates have virtually rendered SEO practitioners impotent.

Search Engine Marketing (SEM) is just another name for online advertising, and it is one of the

42 | Modern Business Magazine

• Only 14% of retailers do not engage external strategy support,

• 31% use external technical support, • 9% have engaged Consultants.

On the plus side, most retailers regard email as the second most important online marketing technique. Email at least is a proven business and revenue performer.

The best strategies are being ignored However, what is crucially missing from the marketing

M A G A Z I N E

These are three strategies that are known to make the biggest difference in increasing revenue and marketing effectiveness.

Content marketing, is booming overseas, with many companies allocating a third of their marketing budget to this alone.

Other techniques such as copywriting, cart abandonment reduction and improved user experience are all missing from the list.

Positive outlook The report is encouraging though, as it seems retailers may in fact be leading the belated move into online shopping, no doubt partly in response to the dire performance of offline retail over the past few years. Australian businesses are still way behind many of their international counterparts so there is quite a bit of catching up to do.

Steep learning curve

• 31% of the sample did not know – which indicates many retailers are not actively considering this metric.

Retailer barriers focus on systems, supply chain and people. Systems integration and supply chain management are the most common barriers.

While several retailers are moving towards dedicated internal resources, there is still a lack of sufficient expertise.

Overall, organisations are placing greater priority on the online channel

Whether that’s because the report’s authors didn’t know about them, so forgot to ask, or the retailers themselves didn’t know about them, is of concern either way.

Many retailers appear to be overwhelmed by the pace of change and have been somewhat caught out by consumers embracing online channels.

Again it just reinforces the perception of lack of knowledge and expertise within the industry.

Retailers have said significant numbers of their customer base are active online shoppers;

Retailers are placing greater priority on:

• 20% of retailers surveyed said that 60%-99% of their customers are active online shoppers;

43 | Modern Business Magazine

• Only 4% of retailers believe none of their customers shop online;

• Resources: especially people – some retailers are moving towards creating a multichannel division. However, there are significant problems in securing experienced skilled staff for online e-tailing.

Modern Business Magazine | 43

Modern Business

tactics employed by retailers according to the report, is conversion rate optimisation, ongoing testing and content marketing.

Modern Business

M A G A Z I N E

• Systems: mainly backend and support infrastructure.

Retailers are thinking more deeply about multichannel integration, as opposed to stand alone e-tail businesses.

• Budgets are being allocated, but this tended to be tied to short term marketing/ sales performance.

Organisational structure is evolving The composition of the digital/ online team within an organisation differed across retailers.

Savvy retailers were looking to recruit multichannel directors/ managers and also attempting to create cross-functional teams.

Sometimes a stand-alone unit had been created within the organisation, with the common reporting line to general management.

Often the structure remained within the marketing team.

Support typically still sits within marketing, but in some instances it lies with senior

management.

The Marketing Department is still the most common area from which the online strategy is developed, however, it is substantially lower than in 2010.

Slightly more retailers are managing the online strategy across multiple departments.

Marketing budget still inadequate and not being directed in the right areas Retailers expect the share of advertising budget allocated to online activities will increase over the next 3 years, however currently most retailers allocate less than 10% of their marketing budget across all online channels, which is leaving leave them exposed.

• Over 20% of larger chains have their online budget sit outside of Marketing.

• 29% of retailers with 100+ stores dedicate up to 10% of their marketing budget to online.

• 65% of retailers with 31 – 100 stores dedicate up to 10% of their marketing budget.

•

44 | Modern Business Magazine

• Over 30% of small chains and single stores dedicate over 10% of their marketing budget to online.

There is at least clear evidence from this study that retailers will be spending more on capital development as well as marketing.

Conclusion As we have seen with David Jones and Harvey Norman, many retailers just don’t want to listen to good advice. Most retailers are still too attached to their old ways of doing business and are in a form of denial over just how much these new technologies are having on their current business model.

Australian retailers have a lot of catching up to do, but at least they are starting to recognise the importance and magnitude of online to their future business success.

45 | Modern Business Magazine

Modern Business Magazine | 45

Modern Business

M A G A Z I N E

HOW TO CREATE COMMERCE-ENABLED CONTENT Building a well-structured library of quality, relevant content is vital in today’s digital business. But content isn’t just what’s on your website or a few spun articles.

So how do you create and structure commerce-enabled content that allows you to reach out across multiple channels while maintaining a consistent content experience, regardless of the channel, media or platform?

Content is a powerful tool Most organisations have, over time, built a vast archive of content. Have a quick look around your own business and see how much content you have already generated.

You will have internal assets such as marketing resources, sales presentations, technical manuals, catalogues, customer service articles, press releases, news & commentary, even training materials and reports.

Then you will have external assets such as syndicated news and reviews, community generated commentary, and curated social media conversations.

Making the Most of the Opportunities When used effectively, and interlinked, these content assets attract new customers via search and social recommendation, help solve the problems of current customers, build ongoing relationships, and establish a strong brand reputation.

For many, content is what inspires us. It inspires us to think, it inspires us to act and it inspires us to buy.

However content is only valuable if it is unique, provides positive attributes that cannot be found elsewhere, and can be accessed efficiently on the technology of the user’s choice.

46 | Modern Business Magazine

Content also has to compete with the new kid on the block which is “user experience” (UX) and organisations, in order to compete effectively, must also get this right. User experience is dynamic, because it changes over time as the user’s circumstances change.

The future is extremely exciting with huge opportunities available for those brave enough to take advantage of them. The organisations that will prosper are likely to have high quality content, tailored to their respective audiences, supplemented by a compelling user experience that creates community and advocacy.

These are the important elements that will provide

M A G A Z I N E

However, in most organisations content assets are unstructured and disconnected, so they are not utilised often enough or effectively enough, and do not send a consistent message or maximise the organisation’s end goals. Thus, they also fail the “user experience” test.

Content is Competitive Advantage Consistent, quality content is valuable to your audience.

Customer focused content is a competitive advantage. It is your voice, your personality and your relevance to your customers. If you have nothing valuable to say, would it be unreasonable for your customers to think that you have nothing of value to offer?

Today, customers have a voice and they are talking to each other more and more, thanks to Social Media and other online platforms. Often, they know as much about your product or service as you do and know more about your competitors than you do. Content, and how you use it, differentiates you from the competition.

Focus on your customer When you evaluate your existing content you will probably find you will have focused entirely on generating original content, which is the most valuable element in the publishing spectrum. But make sure this content focuses on the customer’s needs, is written for the customer and in a manner, and using language, that they can relate to.

Including external content, encouraging community

47 | Modern Business Magazine

authoring and linking to external articles or sources of note, so that you become the authoritative gateway, can also be an effective and less costly way to provide value to your audience.

Focusing on the customer’s needs involves listening and responding to customers, but it also enables you to deliver communications that give the customer a truly unique experience. The end result is content driven commerce.

The cloud is the future The cloud allows you to communicate and share information easily. It delivers immediacy, scalability, efficiency and flexibility. It also means the technology can be implemented at low cost, there is no hardware required, you can manage and support your communications remotely, and

Modern Business Magazine | 47

Modern Business

commercially viable, sustainable businesses.

Modern Business

M A G A Z I N E

it can be quickly scaled as the need arises.

So what does this mean for your content? To ensure that your content delivery doesn’t just become more “noise” to your audience, systems must be implemented that enable sound business management and decision making. These systems help you provide personal attention in a scalable way to guide leads from interested to sales-ready.

Attempting to address the sheer volume of information, segmentation, and reporting requirements using a manual process would be virtually impossible.

Yet there are already several cloud-based all-in-one marketing platforms that enable organisations to create, archive, deliver, measure and enable revenue generating content that provides for a valuable, consistent and unique customer experience.

Start with Free and build

And you can guarantee that over the next 2 or 3 years these platforms will be better, more accessible, faster and delivered on many new devices most of us haven’t seen or dreamt of yet.

They don’t require extensive technical or marketing skills, expensive hardware, and a long term ROI plan. Start at a small level, and measure the results. Then upgrade as you feel comfortable or build on top of it.

But still, many companies are betting their future on poorly integrated solutions, or have no systems for content management at all, let alone a compelling user experience.

48 | Modern Business Magazine

Many platforms offer free trials or free low level usage accounts. There is no need to re-invent the wheel. Utilise open and free technologies and services wherever possible.

If you are not doing it, you can be sure your competitors are, or soon will be.

You can start today!

maxiom Group of Companies

CLOUD PUBLISHING SOLUTIONS Creative & Secure Solutions for all your Digital Documents Create the Content Yourself or Have Our Professional Designers & Writers Create It for You

Solutions Catalogues Brochures Manuals Training Sales & Marketing Presentations Report and Accounts Business Publications Corporate Magazines eBooks Textbooks Learning Materials Presentations & Reports Internal Communications For more information on Cloud Publishing Solutions visit our website: or call us on 1300 855 696 49 | Modern Business Magazine maxiom

www.maxiom.com.au Modern Business Magazine | 49|17 Outsource Resource Magazine

Modern Business Magazine Franchise Magazine chiseModern Magazine

in this issue Franchise Services se Services Featured Your Franchising Experts Selecting the right Franchise For You Turning Your Business into a Franchise Financial Modelling Interstate Growth Strategies Operations Manuals/Documentation Recruitment/Selection Manuals

SPECIALISTS IN WHS MANAGEMENT AND TRAINING Join the leaders in the $2 billion workplace safety market

Franchisor Coaching/Mentoring Franchises Induction Program Field Visit Services/Training

WHS (OH&S) Consultants

‘Health Checks’ - Franchise Reviews/Audits

Procedure Development & Training Recruitment Of WHS Personnel WHS Audits Change Manaegement Solutions Manuals & Policies

51 | Outsource Resource Magazine

Amaze Creative

Keeping it clear and simple.

Brand Design Franchisor or Franchisee Print & Digital Does Your Franchise Need a Design BoostWeb it’s Performance?

maxiom 1300 & 1800 Numbers

51 | Outsource Resource Magazine

Latest technologies at a fraction of the cost

VoIP Phone Systems 100% Satisfaction Guarantee

WebThen Development Click Here for More Information www.amazecreativestrategies.com | Modern Business Magazine 51 50 | Outsource Resource Magazine Modern Business Magazine | 61

maxiom

ModernFranchise Business Magazine Modern Magazine Featured in this issue Franchise Services

4321 FIRST STREET LOREM ET $525,000

Maxiom Jobs maxiom A Different Group Kind of ofRecruitment Companies Service

the best platform to create +growmanage Increase sales and your business 4321 STREET 4321 FIRST FIRST STREET LOREM ET LOREM ET$525,000 $525,000 .Y e in s rB u o w G T e tm s rC u o Y ih tW c e o C d n A lo S s Ira g iy u tfB c h T n e L s a le E o h W

local websites for your franchisees all through the power of storytelling.

Increase sales and grow your business Increase salesthe and grow your business all through power of storytelling. .Y e in s rB u o w G T e tm s rC u o Y ih tW c e o C d n A lo S s Ira g iy u tfB c h T n e L s a le E o h W

.Y e in s rB u o w G T e tm s rC u o Y ih tW c e o C d n A lo S s Ira g iy u tfB c h T n e L s a le E o h W

all through the power of storytelling.

Where The bestyou’ll place find the the best to find Instant Demo franchise best talent & staffjobs the best Modern Franchise Magazine This online coaching program contains over 30 individual modules with video, worksheets, audio and full transcripts.

This online coaching program contains over 30 individual modules with video, audio and and full transcripts.

Ability toworksheets, ask questions submit stories

for feedback and receive individual, This online coaching program contains Ability to ask questions and submit stories detailed over 30 responses. individual modules with video, for feedback and receive individual, worksheets, audio and full transcripts. detailed responses.

Full access to other participants questions, Ability and to ask and submit stories stories ourquestions feedback which Full access to other participants questions, for feedback and receive significantly deepens your individual, learning. stories and our feedback which detailedsignificantly responses. deepens your learning.

Access Access to material 24/7 24/7 for 12 weeks from toother material for 12 questions, weeks from Fulltime access to participants the you start the time youtraining. start training. stories and our feedback which significantly deepens your learning.

Cost is(GST $850 (GST Inclusive) Cost is $850 Inclusive)

Access to material 24/7 for 12 weeks from For further the time you startinformation training. and to register go to For further information and to register go to www.successthroughstories.com/register

www.successthroughstories.com/register Cost is $850 (GST Inclusive)

What others have said...

“The Success Through Stories online coaching What others have said... program was beyond my imagination.

The quality of the content is exceptional.”

“The Success Through Stories online coaching program wasKristin beyondOwen, my imagination.

Kumon Franchisee The quality of the content is exceptional.”

What others have said...

Kristin Owen, Kumon Franchisee

“The Success Through Stories online coaching “The program notbeyond only provided me with a program was my imagination. deeper understanding of is the subject, The quality of theprovided content exceptional.”

“The sharpened program not only me with a it inspired it also my skills. Above all, deeper understanding of the subject, Credit goes to Gabrielle and Yamini, Kristin Owen, Kumon Franchisee itconfidence. also sharpened my skills.

Above all, it inspired I valued confidence.whose Credit feedback goes to Gabrielle andmost.”

Yamini, whose feedback I valued most.”

Sai Keng Choy, Singapore Singapore “The program Sai notKeng only Choy, provided me with a deeper understanding of the subject, “What wonderful experience it’ssoaking been up it also sharpened my skills.

Above all,soaking it inspired “What aa wonderful experience it’s been up your storytelling knowledge and applying to my your storytelling knowledge andtoapplying it to and my itYamini, confidence.

Credit goes Gabrielle business. really sharpened myup game business.You You really sharpened myover game over whose feedback Iup valued most.” the It’sIt’s great to have a full kit of easy to easy to thecourse. course. great to have a full kit of use tools.

I’ve already used several of usestorytelling storytelling tools.

I’ve already used several of Keng Choy, Singapore my stories to Sai effect.” my stories to effect.”

Paul Kaan, The Social Larder

Kaan, it’s Thebeen Social Larder “What a wonderful Paul experience soaking up your storytelling knowledge and applying it to my business. You really sharpened up my game over the course. It’s great to have a full kit of easy to use storytelling tools. I’ve already used several of my stories to effect.”

Franchise Services For further information and to register go to

Paul Kaan, The Social Larder

www.successthroughstories.com/register

Your Franchising Experts CORPORATE GIFTS YOUR STAFF OR CLIENTS ARE GUARANTEED TO LOVE! Selecting the right Franchise For You

Turning Your Business into a Franchise Financial Modelling

Interstate Growth Strategies

Operations Manuals/Documentation Recruitment/Selection Manuals

Franchisor Coaching/Mentoring Franchises Induction Program Field Visit Services/Training

‘Health Checks’ - Franchise Reviews/Audits

Premier Corporate Gifts 51 | Modern Business Magazine maxiom

51 | Outsource Resource Magazine

Jelden Recruitment Brand | Culture | People

Because When You Want the Franchisor or Franchisee Best People for Your Does Your Franchise Need Business You Want thea Boost it’s Performance?

Best People in Recruitment Then Click Here www.jeldenrecruitment.com for More Information

Modern Business Magazine | 51| 51 Outsource Resource Magazine

Maxiom Jobs maxiom Maxiom Jobs maxiom A Different Group Kind of ofRecruitment Companies Service A Kind of Companies A Different Different Group Kind of of Recruitment Service Group ofRecruitment Companies Service

sEDITORS SELECTION BEST JOBS OUTSOURCING JOBS -- MAY 2012 EXECUTIVE JOBS - JUNE 2012 MAY 2012

fasset bs TION - BEST JOBS Goodes & Co

e

Job Title: & Web Design Sales Job Title: Graphic Enterprise Solutions Sales AY 2012

Company: Amaze Creative Strategies Company: Amaze Strategies Job Title: Enterprise Solutions Sales Location: Sydney & Melbourne positions Date Posted: 2/05/12 Company: Amaze Creative Strategies Location: Sydney & Melbourne Positions Date Posted: 15/05/12 Location: Sydney & Melbourne Positions

JOBS - MAY 2012

fasset

Job Title:&General Manager Goodes Co Company: Fasset Job Title: OH&S Training Manager Job Title: OH&S Training Practise Accountant Manager PREMIER CORPORATE REWARDS Job Title: Practice Accountant Date Posted: 15/05/12 Company: Goodes Building&Up Up Consulting Company: Building Co Consulting Company: Goodes & Co Location: Melbourne, Date Posted: Posted: 02/05/12 Date Location: Brisbane, 14/5/12 QLD Vic

Job Title: Corporate Sales Representative Date Posted: 1/05/12 Location: East Melbourne, Melbourne, Vic Location: East Vic Company: Premier Corporate Rewards Location: Melbourne, Vic Date Posted: 14/05/12 Location: Melbourne, Vic

Job Title: Job Title: Practice BusinessAccountant Development Manager Goodes Co Company: Fasset Company: Job Title: General&Manager Location: Melbourne, Date Posted: 1/05/12 Vic

Company: Fasset Date Posted: 15/05/12 Location: Melbourne, Vic

Location: Melbourne, Vic

Jelden Recruitment Brand | Culture | People

Job Title: Professional Job Title: Franchise Recruitment Consultant Company: Jelden MaxiomRecruitment Company: Date Posted: 2/05/12 VicDevelopment Consultant Location: Melbourne, Job Title: Publication Location: Melbourne Vic

Company: Maxiom Date Posted: 15/05/12 Location: Melbourne Vic

M ich ael Po lo H o mes

Job Title: Franchise Partner Job Title: of Manager Marketing Strategy Job Title: Franchise Business Editor Partner Job Title: Chief General Job Title:Franchise Publication Development Consultant Job Title: Professional Company: Maxiom Franchise Concepts 360째 Business Concepts Company: Franchise Concepts Company: Polo Homes Company: Michael Company: Maxiom Company: Maxiom Date Posted: Posted: 13/04/12 Vic Date Location: Melbourne, 14/5/12 Location: Melbourne, Date Posted: 2/05/12 Vic Date Posted: 2/05/12 Date Posted: 15/05/12 Location: Melbourne, Vic Location: Melbourne, Vic Location: Vic Job Title: IT Support Franchise Job Title:Melbourne, OH&S Franchisee Location: Melbourne Vic Location: Melbourne Vic

Company: SuperGeek Company: SafetyQuip Date Posted: 14/05/12 Date Posted: 14/05/12 For a full list of executive jobs and For a full list of franchise jobs and information information about about Location: Various, East Coast Location: Melbourne, Vic

franchise careers careers please visit our executive our website website www.maxiom.com.au www.maxiom.com.au For a full list of franchise jobs and information about orfranchise search for more careers in franchising visit Job Title: Chief ofto Marketing or toStrategy search for please more vacancies careers visit ourvisit website Company: 360째www.maxiom.com.au/maxiomjobs/franchising Business Concepts www.maxiom.com.au/maxiomjobs Job Title: OH&S Franchisee www.maxiom.com.au Date Posted: 2/05/12

Location: or Melbourne, Vic Company: SafetyQuip to search for more Posted: 14/05/12 51 Date | Outsource Resource Magazine 52 | Modern Business Magazine

careers in franchising visit www.maxiom.com.au/maxiomjobs/franchisingmaxiom

maxiom Group of Companies

Maxiom Jobs

A DIFFERENT KIND OF RECRUITMENT SERVICE

Think Big…

Aim Higher…

See Beyond…

All Industries

Top Performers

Qualified Talent

Maxiom Jobs covers all industries and sectors. With over 300,000 business leaders and professionals subscribing to Maxiom’s digital publications, we can help you secure the best talent.

Partnerships with the leading businesses, associations and not-for-profits help you to reach a targeted, highly desired audience.

Pre-qualified pool of passive and active candidates and the hiring managers who seek them

www.maxiom.com.au 53 | Modern Business Magazine maxiom

Modern Business Magazine | 53 Modern Business IntelBuild Magazine Magazine | 45 |3

About Modern Business Magazine Publisher Maxiom Group Pty Ltd Level 2, 710 Collins Street Docklands Vic 3008 Australia www.maxiom.com.au Editor Mark Matthews Digital Magazine Created By Modern Business Magazine www.modernbusinessmagazine.com.au Advertising Enquiries 1300 855 696 (within Australia) + 613 8199 3486 (International) modernbusiness@maxiom.com.au Editorial, Media Releases & Article Submission magazine@maxiom.com.au

54 | Modern Business Magazine

PRIVACY POLICY: Modern Business Magazine is published as a service to subscribers.

We adhere to strict Privacy Policy concerning all subscribers on our database and will not disclose your details to any third parties without your prior written permission.

If you have any queries about our privacy policy or this magazine, please contact our office on (03) 8199 3486 or email privacy@maxiom.com. au. A full copy of our Privacy Policy is available on our website at www. maxiom.com.au/subscribers/privacypolicy.

In the meantime, thank you and we trust you enjoyed this issue of Modern Business Magazine!

DISCLAIMER Information published in this online magazine has been compiled with due care and attention, but it does not clam to be exhaustive.

Maxiom Group and/or Modern Business Magazine cannot be held responsible for the content of external sites reached via a hyperlink from this site. We accept submissions from outside contributors, and whilst great care is taken, the author of the submitted article is responsible for what they write, and Modern Business Magazine will not be liable for any loss or inaccurate information or any other omission or error by outside contributors.

This online magazine is provided for information only. It is not intended to replace a consultation with a qualified industry professional. Modern Business Magazine does not accept responsibility for any loss, damage or injury that arises from the use of this online publication.

55 | Modern Business Magazine

Modern Business Magazine | 55

www.modernbusinessmagazine.com.au www.modernbusinessemagazine.com.au

Published by:

Maxiom Group Pty Ltd Level 2, 710 Collins Street Docklands Vic 3008 Ph: 1300 855 696 Fax: 1300 799 493 info@maxiom.com.au www.maxiom.com.au

maxiom