M A G A Z I N E
Why Your Account Will Become a Futurist
SEPTEMBER 2012
The Future Of Manufacturing maxiom
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About Modern Business Magazine: Publisher Maxiom Group Pty Ltd 600 Lonsdale Street Melbourne Vic 3000 www.maxiom.com.au Editor Mark Matthews Digital Magazine Created By Maxiom www.maxiom.com.au Advertising Enquiries 1300 855 696 (within Australia) + 613 8199 3486 (International) advertising@maxiom.com.au Editorial, Media Releases & Article Submission magazine@maxiom.com.au
Welcome to the September Edition of Modern Business Magazine Written by some of the most exciting business and marketing minds from Australia and around the world, Modern Business Magazine focuses on cutting edge business strategies that business owners can implement in their organisation today! Modern Business Magazine is a great resource as it provides guidance for business owners and managers to develop ideas and concepts from their peers, leading edge entrepreneurs and organisations. Boasting exceptionally high quality information, tips and advice, every issue is packed with fantastic value added content including videos and webinars. Best of all, it’s completely free and open to everyone!
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A Quick W or d with Mar k Matthews Thank you and welcome to the September edition of Modern Business Magazine. Australia’s leading business lifestyle magazine. This month we have put together a jammed packed edition of Modern Business Magazine with contributions from some of Australia and New Zealand’s most respected business minds - plus selected international contributors. Modern Business Magazine contains special features, information, tips and advice on how to supercharge your business and your life. Modern Business Magazine is different to traditional trade magazines and journalist driven titles that contain little more than gossip and press releases from organisations with clear vested interests . Modern Business Magazine is a community of business leaders - innovative and creative thought leaders - that are experiencing success in today’s fast changing, challenging but exciting business environment. Our communities incorporate every sector of industry and have a truly unique vision, with both a local and global perspective. Only by doing this are we able to ensure that our audience gets the best possible information and guidance at the right time.
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Modern Business Magazine | 3
M A G A Z I N E
What’s in this month’s Magazine?
Regular Features Page 18:
The Modern Business
Page 42:
Getting To Know You
Page 44:
Your Business Experts
Page 62:
Featured Business
Special Features
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Page 8:
Why Your Accountant Will Become a Futurist
Page 22:
The Chief Executive’s Role in Pricing
Page 24:
Why Being a Good Presenter is No Longer Good Enough
Page 26:
How to Run Your Own Publicity Campaign
Page 30:
How to Take Advantage of Group Buying for Your Business
Page 48:
Creating a Revolution in Your Industry
Page 54:
The Future of Manufacturing
Page 54:
Always Be Changing - The New ABC of Selling
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SEPTEMBER 2012
Why Your Accountant Will Become a Futurist
Profiles Page 18:
Catalyst Pacific
Page 42:
8020 Centre & Tom Poland
Page 44:
Business Development Alliance - BDA
Page 62:
Mish McCormack
Articles Page 14:
5 Things Candidates Hate About Your Recruitment Process
Page 16:
The Workplace Revolution That is Changing Business
Page 28:
Let’s NOT talk About Brand
Page 32:
Common Branding Mistakes Small Business Makes
Page 34:
Why Outsourcing has Become the Key to Business Success
Page 50:
Getting the Right Training to Meet Business and Career Goals
Page 56:
Events That Tell Your Brand’s Story
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Modern Business Magazine | 5
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Modern Business Magazine | 7
WHY YOUR ACCOUNTANT WILL BECOME A FUTURIST With business undergoing rapid structural change and new technology having an increasing impact on the way we work, live and do business, the accounting profession is also undergoing a fundamental change from a reactive role to a more proactive one. By Morris Miselowski We talk with Morris Miselowski about what changes he sees in the world of accounting over the coming years and how this will affect our businesses.
How will these changes affect By 2020 relationships between organizations, people and our relationship with our service providers will be far more accountant? intimate, accountants will be part of an individual’s advisory group There will be an increasing and statutory requirements will reliance on accountants, with What changes you forecast their detailed knowledge of their be outsourced to some other for the accounting clients’ business, for information country or person – that’s a fundamental shift. profession? about how best to manage the business’s financial affairs. Does this mean that we will The world of accounting will be view our relationship with our revolutionised over the next 15 Accountants will have real-time accountant is a far different years with a fundamental move access to all of their clients’ by most accountants away from relevant business details at their way? the backline, with its focus on fingertips. historic figures and tax Accountants’ relationship with compliance, to become a Much of the mundane their clients will be significantly forward-looking well-informed donkeywork needed for tax different. holistic business adviser on the compliance will be outsourced frontline. and accountants will become Accountants who will prosper are specialist financial advisors who moving beyond traditional Is this going to be reflected in become an integral part of their taxation advice, playing a clients’ thinking process. the way we do business as broader role in their clients’ businesses and offering more well? Accountants will move from a holistic advice. reactionary role to a proactive Most aspects of how we work role. In the past much of the work What impact will this have on and do business are already accountants have done is client- our businesses? changing. Employees are working remotely and carry their driven, reactionary and done offices with them in their mobile after the fact. They will be part of In tomorrow’s business model a process that works in tandem clients will think ‘you are my device which can be accessed in real-time with business anywhere in the world at any financial advisor, you are part of operators. time. my trusted tribe, you work in relationship with me and the others who advise me, you are 8 | Modern Business Magazine
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constantly aware and switchedon. I expect your advice when I ask for it but also at times when I don’t.’ Accountants will know that information because they will monitor their clients, with permission, in real time. This approach will apply to accountants working within a firm and those working externally within an accounting firm. Is Outsourcing likely to become a key function of our accountants business? Much of the number work will be sent to workers in the future economic powerhouses of China and India. Bigger firms in the US already send up to 70 per cent of their tax compliance work offshore and Australian firms are starting to catch on too. Already book-keepers in India have good knowledge of tax laws in various countries around the world. The world will become a much smaller place and work will be routinely sent around the globe. So for accountants it’s more evolution than revolution?
relationships with their clients, though by 2020 closer client relations would become the norm rather than the exception.
online digital advertising – because this is a space about which many of their clients are seeking advice.
The growth in the industry will see accountants offer more than just numbers advice. They will offer business growth advice and bring in specialists to assist their client with other elements of their business.
What about the so-called “Revolution of Business”?
Large firms already act as a trusted advisor and offer specialists in various areas of business.
Some accountants – particularly We are already seeing the Big in big accounting firms or boutique accounting businesses Four employing non-traditional employees – such as experts in – already have close online shopping and retailing and
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There will be a revolution of business across all levels, and its effects will be felt by accountants who work within a corporation or accounting firm, and in Australia and across the globe. Over the next 10 years we will see business change more significantly than we have in many hundreds of years. The financial/accounting world will evolve to meet new demands Modern Business Magazine | 9
There will be new jobs, a whole lot of new areas we create, and new industries.
They see the world as simultaneously physical and virtual.
So how fast is this “revolution Human behaviour though is of business” likely to occur? unlikely to change much. We are programmed a certain way. It’s how we use the new The pace of change in the past 20 years had been exponential, technologies and apply them in our lives and business that with it not being unusual these makes the difference. We have days for businesses to amass to keep learning to keep up. Our millions of customers within a whole approach to education, year – a rate of unprecedented including business education, will business. change. Our accountants will also In the next 10 years we will move play a role and have the forward more than 100 years of knowledge and expertise to technology and within 100 years guide us. we will move forward 1000 years Are we heading towards of technology. We are living a digital wild west, with few rules to information overload? guide us. Technological advance has brought with it information (“we’re We have moved into the digital world and we now have an online drowning in it from Google”); knowledge (“I can go to a blog world where every physical and get someone else’s activity we do has an online interpretation”) but to get wisdom equivalent. an accountant would need to be consulted. Does this mean we need to adopt “lifetime education” as What clients in the future will be the norm in order to stay wanting is the wisdom of competitive? someone with specialist knowledge at a time and place Generation Y and Z, the next generation to take over business that is meaningful to them. Advances in technology will allow boardrooms, would have been accountants to mine and capture raised in a digital world. They the number work. have grown up with computers and mobile devices and are incessantly on them.
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interpretive wisdom. The wisdom sought will deliver different skills, different mindsets and offer different opportunities. Accountants will have to become good at interpreting information; work successfully with clients to inform them – sometimes in advance of their actions; and become adept at communication. We are already seeing the move to mobile access to information. So what will our accountant of the future look like? We are moving away from a fixed computer and moving into a mobile world. Smart phones recognise where we are, who we are with, what we are doing and do all kinds of things at our behest. Bank accounts, share portfolios and other financial information will be connected in one space and will be able to give you advice, such as which credit card is best to use at this time. Within 10 years this will be absolutely normal. Accountants will be mining that information routinely and they’ll know all about their clients, their spending habits and what they have bought.
Accountants’ main role in the future will be in selling the
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It’s already undergoing significant change. In the accounting world of the future number crunchers will be a small enclave rather than the totality. The current business model – which sees most accounting practices with a majority of number crunchers and the minority (partners) outreaching and outsourcing business – simply doesn’t make sense financially.
What other revolutions are ahead?
At least a third of the workers in the western world will work virtually and remotely by 2025.
My advice to today’s accountants in accounting firms is to find a specialist niche that can be sold or provided through an accounting or financial firm which is a growth area for the world in which they work.
Looking further into the future, by 2020 stem cells will start to be used to grow organs and bones, travelling into space for tourism will be more common place, an increasing number of today’s cancers would have been tamed, we will have an understanding of how the brain works and children born then will live for at least 120 years and manufacturing will be done to order using 3D printers.
Accountants will no longer Internal advisors will take on a necessarily be physically housed generalist advisor role because in a building, and won’t work 9-5 that will also be needed. weekdays. While there was limited room for The notion of squeezing work in businesses to continue to exist in between the hours of 9am and their current narrow model, there 5pm is a nonsense. The business was still a need for them. world will adopt a project and task model, whether accountants Future accounting practices will work internally or externally. have extremely communicative consultants with a far closer and more intimate relationship with So what does this all mean for While the need for traditional number crunching accounting their clients and accountancy our accountants? work will remain, today’s would become a much more accounting practice business advice-based people profession. The accounting industry will also be involved in a revolution in the model will be turned on its head by 2025. way people work.
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Modern Business Magazine | 11
Where once accountants saw their clients once or twice a year and interacted more with texts, books and notes, in the future they will be consulted much more often and interact much more with people. Accounting will become a complete customer interaction industry because there will no longer be any need for clients to use them ‘to get their books done’ How will our accountants achieve all this?
Will the “globalisation” of business have an impact? The huge opportunities open to Australians keen to capitalise on the growth of the economic powerhouses of China and India. There are and will continue to be enormous local opportunities. By 2025 China will be a dominant spending power on the planet and will have a large The highly-regarded principal and middle class. India’s growth in consumer demand will be about founder of Success through Focus since 1981, Morris a decade or so later.
Australia and New Zealand, in Accountants will continue their the Asia corridor, are placed education by constant up-skilling perfectly to have a great because they will be custodian of influence on those economies. their own career. Global Geographically, they are close to accounting qualifications will most Asian countries and has begin around 2030. better time zones than the US and UK. Is the current mood of individual entrepreneurialism Australia also knows, from a financial/accounting perspective, good for accountants? how businesses will evolve. The working world had changed These countries are inviting Australia to share the business vastly even in our lifetime. wisdom they have and that they Generations X and Y have learnt, are yet to gain. through watching their parents, Our accountants will be at the that employment is short-term and loyalty is no longer required. forefront. There are a growing number of employees defined by the notion of six careers and 14 jobs in one lifetime.”
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Miselowski’s specialty is futurevision.
He’s a business futurist, mentor and consultant, a venture capitalist, an academic, and a dynamic presenter whose mission is to inspire, to encourage, and to motivate his clients and audiences to embrace the unlimited opportunities of their future. Each day he consults with business leaders around the globe, helping to shape their businesses so they can be first to take profitable advantage of tomorrow’s business opportunities. Morris foresees an unlimited future for those companies which take the time to prepare and strategize for the future NOW. For regular updates from the future join Morris in Facebook www.facebook.com/BusinessF uturist
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Modern Business Magazine | 13
5 THINGS CANDIDATES HATE ABOUT YOUR JOB APPLICATION PROCESS BY KRISTIN MCNICOL
We all know why candidate experience matters. So we thought we’d flag the top 5 application problems that leave candidates badmouthing you. This is not a new topic, nor is it a complex one. Candidate experience has been discussed for years and boils down to something as simple as treating others as you would like to be treated – but huge numbers of recruiters and employers are still getting it wrong. If you’re guilty of any of these, it’s time to re-work your application process: 1. Unresponsiveness. The Black Hole. Most candidates have been there: they poured hours into a CV, filled out an application form, crafted the perfect cover letter – then nothing. Even if you’re still living in the administrative nether world of email applications, there’s no excuse for at least setting up an automatic response to acknowledge the receipt of an application, then copying and pasting a template for rejections.
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2. Poor communication. It’s not quite the Black Hole: you’re in touch with the candidate, which is a start. Unfortunately, the information you’ve given is too vague. A real example: I interviewed for a job last year. The interview went well but I was warned at the end that it would be “a while” until I heard back from them. A month passed; I assumed that I hadn’t impressed them as much as I thought.
sounded surprised that I had written the job off, reminding me, “We did say it would be a while until we’d be in touch...” The moral? Be clear and realistic when you set expectations, or you’ll lose good candidates. If you think it’s going to be 3 weeks before you can get back to someone, tell them exactly that - then Deliver. 3. Long forms.
Recruitment software is a I accepted another job. Another 3 powerful tool; but, like all weeks later, I got a call from the powerful tools, it can be misused. We all love watching recruiter offering me the job. Granted, it’s possible that something had been going on behind-the-scenes. Perhaps another candidate accepted the role then let them down. The recruiter assured me, however, that the delay was the result of a senior hiring manager’s holiday and even
data from application forms appear in our database
automatically – but remember that it’s not quite magic. Candidates are filling in that data for you, and they’re not keen on never-ending forms either. The shorter your form, the more likely candidates are to make it to the bottom of it.
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4. Out-of-date ads. You don’t go to the supermarket and expect to find out-of-date food on the shelves; nor do candidates expect to find out-of-date ads on your careers site. If you let a candidate fill out an application form, upload a CV and write a covering letter only to be told that the vacancy expired a month ago, don’t expect them to be any more pleased than you’d be if you walked out of the supermarket with a three month old slice of bacon. 5. No contact details. Who loves receiving covering letters that begin, “Dear Sir/ Madam”? Nobody - and candidates don’t like sending them either. Including the recruiter or hiring manager’s name on the ad doesn’t just give the candidate a name to put on the cover letter either; it gives the impression that
they’re dealing with a human being, not a faceless, nameless web form. I’ll re-iterate: none of this is news. These 5 mistakes centre around the absolute basics of recruitment, and that’s what makes it shocking that so many companies are still making them. If you felt a guilty chill as you read over any of them though, don’t worry: they’re easy to remedy, so get on it!
Kristin is a consultant to enterprise on HR & recruitment best practices, having worked for over 20 years in North America and Europe. Kristin has worked with some of the biggest household names, franchises and government organisations helping senior management improve communication with all stakeholders in order to achieve better business outcomes. For more information visit: www.kristinmcnicol.com
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MODERN FRANCHISE MAGAZINE
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THE WORKPLACE REVOLUTION THAT IS CHANGING BUSINESS There has been a mood of individual entrepreneurialism sweeping the world since the GFC. Structural change, new technologies and ultimately ingrained human behaviour are creating a revolution in our workplaces. By David Marks Simply put…The employee is dead!
First, we are seeing the way we work undergoing a significant change. We are more mobile. This statement may seem slightly Technology means we are no over the top to some. How could longer tied to a desk or an office. anyone say that the employee is dead? This in itself allows us to be more entrepreneurial, taking charge of Why would anyone make such a our own calendar, agenda and surprising claim? Why should we working day. More often we are make such a non-politically making our own decisions about correct statement, and upset the how we do business. apple cart? What's to be gained by rocking the boat? More people are coming to the realisation that they don’t need Well the short answer is that the an employer for security. In fact, workplace is in the early years of working for someone else is now a revolution. That means that less secure. There is no such what you see today will become thing as a “job for life’ anymore. more and more common. Most of us have several careers and many jobs in our lifetime. So The word revolution implies that more and more we are asking, “why not do it for ourselves?” something has been revolved, completely turned on its head. Society as a whole, however, The certainly can be said of the seems to be stuck in the infancy workplace now compared to as stage of this revolution because it still refers to unemployment recently as 5 or 10 years ago. and employment. Until such time And a growing number of people as the words they use to describe the world of work are beginning to see that the reflects the new, rather than the dust they thought would old, it will remain there. eventually settle, won't. It will never again be the way it was. 16 | Modern Business Magazine
Seth Godin observed that prior to the Industrial Revolution, there was no such thing as unemployment. And he's right. Employment, as we know it, has only existed for about 300 years; and now, the workplace in that respect is returning to those preindustrial days. Why am I telling you this? Because it's the entrepreneur to whom the future belongs. Employment will have it’s ups and downs for some time to come, and during that time, many people will feel the push to start their own businesses. But, you'll know that the revolution is maturing when self-employment is as common as employment is now. David Marks is a respected advisor and consultant to small business owners, franchisees and solopreneurs having authored several books on the changing workplace and entrepreneurship. A keen futurist and analyst of employment trends, David is highly sought after key note speaker and advisor on these issues.
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Modern Franchise Magazine | 17
MODERN BUSINESS: CATALYST PACIFIC Helping people be effective in cross-cultural environments 1. What inspired you to start Catalyst Pacific? What are your goals and values? We have always been passionate about learning and supporting people’s efforts to achieve to the best of their ability. This combined with a desire to set up our own business led my wife, Trish and I to establish Catalyst Pacific Ltd. We saw that there were a significant number of people whose talents and potential were largely untapped and that an often unspoken part of leveraging their potential was a strong underlying need to raise cross-cultural awareness. While much of our work has been in coaching and facilitation, and Pacific communications and engagement, we are aiming to increase our business in the area of building cross-cultural effectiveness. It is a key aspect of all business. The qualities we value in ourselves and our clients are; Trust, Commitment, Strong relationships, Generosity, Integrity, Openness, Honesty, and providing practical evidence-based solutions. 18 | Modern Business Magazine
2. What was the driving force behind your decision to specialise in the cross cultural awareness aspect of Business?
3. What types of customers do you help? What experience do you have helping small business customers?
It’s who we are as people. We are a cross-cultural couple, family and business.
We help organisations and teams in the private, public and Not- For-Profit sectors from large and small organisations. For us, it was a logical extension We work across all levels in into the business arena, our key organisations but our point of difference and an area opportunities have tended to be of potential growth. Equally with influential groups particularly important for us is that it is middle and senior leadership work with a ‘good’ societal teams. We are aiming to do Purpose. more with small businesses. Cultural diversity is a feature of New Zealand and Australian society and an integral part of all work Teams. Relating effectively with people is a key aspect of any Business. We could see that with an increasingly multi-cultural workforce, for businesses to get best from their people and benefit from a deeper level of staff engagement, they needed to consciously develop effective cross-cultural communications as an essential leadership and team building skill. We have the experience and expertise to help them.
4. Do you service other sectors as well? Yes. Effective cross-cultural communications is an essential skill across all sectors. We have clients in the Health, Essential services, Energy, Education, I.T. and manufacturing sectors. 5. What are the main reasons that someone would choose the Catalyst Pacific to help improve cross cultural awareness and their employment brand? We are client focused and easy to work with. We model what we do and have specific expertise
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Lominger Architect suite of tools, ExcelL and CultureActive (two inter-cultural skills tools) and Culture-Connect which is a unique approach we have developed through our work in this area. 7. What challenges did you face in setting up your Business?
5. What are the main reasons that someone would choose the Catalyst Pacific to help improve cross cultural awareness and their employment brand?
6. What process, services and support do your clients Receive?
We use professional research based tools and are continually refining our offering and researching international trends and best practise in this Area.
There is an increasing demand for our One-on-One coaching services. We draw from a wide range of proven, research based tools to up-skill and strengthen leadership, improve staff engagement, enhance productivity and strengthen cross-cultural effectiveness.
Our business has three main streams of work - coaching and facilitation for high We are client focused and easy performance, building crossto work with. We model what we cultural effectiveness, effective do and have specific expertise in communications and the area. engagement.
We work alongside our clients to design, develop and deliver practical outcomes to address their specific needs.
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Being new to the market, establishing ourselves and deciding the best business model for us were challenges. For the past six years we have used an associate business model. However our biggest challenge has been in getting companies to recognise that in a growing global economy more than ever before, effective crosscultural communications skills are an essential leadership and staff competency. Interestingly this challenge is in itself a reflection of New Zealand and Australia’s egalitarian values i.e. that we all have the same opportunities and should treat all people the same.
Often our services have been engaged for other work, where These tools include Appreciative we can see that there are Inquiry, work-style profiling, deeper cultural influences also Modern Business Magazine | 19
MODERN BUSINESS: CONTINUED…..
play. Part of our challenge is getting our clients and potential clients to recognise and acknowledge those cultural Influences. 8. Tell us about some of the expectations that you had. Have they been met?
It is hard work but good work and it has always been enjoyable. 9. What types of services do you offer?
We offer a range of diversity training, cultural awareness and cross-cultural communications skills workshops. These also This is very much a work in include pre-posting and preprogress. We wanted to work with ‘Perfect Clients’ i.e. clients travel briefings, Inter-cultural mentoring and In-Country where we shared a strong transition training. We have alignment of values, had a mutual respect and were willing particular expertise in strategic facilitation, executive coaching, to explore building a long-term team development to build high relationship. This way we are performance teams and Pacific really able to gain an in-depth knowledge and understanding of communications. We are in the where we can add greater value process of developing an online in addressing their needs. This stream to our business. is far more satisfying than a more transactional relationship. 10. Do you provide services throughout New Zealand? We are committed to making a positive difference and to Yes. We work in all the main helping our client’s achieve their cities and provincial centres as business objectives particularly best suits our client’s needs. in the areas we work. For us one of the best ways to do this 11. Do you have any plans for is by working with influential overseas expansion? leadership groups. Yes definitely, particularly for By and large we have managed Australia and the Asia-Pacific to do that. Much of our work has region. We have both travelled come through and continues to extensively and want to combine be on a referral basis. this with our business well into the future. 20 | Modern Business Magazine
As part of positioning Catalyst Pacific Ltd in the cross-cultural space, we wanted to be part of a global network with other inter-cultural experts. We have done this, meeting our now global inter-cultural expert colleagues based in Finland, the UK, Singapore, Hong Kong, and Australia. We are able to combine forces and share their expertise for specific international projects. We have worked in the Pacific and advised clients on working as mentors in the Pacific. We want to do more of this at home and further afield through our international networks and other Connections. 12. What would you say to someone looking to educate their workforce in crosscultural awareness and what advice would you give them? It is great that they are being proactive and forward-looking. New Zealand and Australia have an increasingly culturally diverse workforce, clientele and business partners. It is important that the provider they contract uses proven research-based cross-cultural communications, learning and development tools.
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Modern Business Magazine | 21
THE CHIEF EXECUTIVE’S ROLE IN PRICING Pricing is all about customer value management. Price a product too high relative to value and you’re selling a rip-off product. Price too low relative to value, and you’re leaving money on the table. By Jon Manning If the role of the chief executive is to ‘maximise shareholder value’, shouldn’t the maximisation of customer value come naturally to the CEO? As recent examples show, the answer to that question is “not necessarily”. Just over 12 months ago, the CEO of Netflix (quite rightly) decided the future of his business lay in online video streaming, rather than DVD rentals. Separating one combined subscription into two individual subscriptions for each service, resulting in a 60% price increase for customers who still wanted both services, was not good customer value management.
Unfortunately, customers don’t see value in “Fair and Square Everyday Pricing” – shoppers are craving discounts and coupons, and voting with their feet and wallets.
This will ensure proper attention is paid to Pricing in order to put customers at the centre of critical decisions and the strategy is consistent with the organisation’s overall goals. Clearly in the examples above, customers And closer to home, Deane have been forgotten in the tangle Priest, CEO of Brumby’s Bakery of the organisational web. fell on his sword recently, after putting his name to a memo to franchisees saying they should raise prices and blame in on the carbon tax. The revenue uplift would provide added shareholder value, but the court of public opinion had other opinions.
Entrepreneurs are usually forced to do their own pricing in the incubation and infant stage of the development of their business. The company’s incurred the Sure, this is borne out of wrath of over 80,000 hostile comments on its Facebook page resource constraints, but at least they can still take a holistic view within a week, 400,000 of their business in those early subscribers departed years. and its share price is yet to Recover. But as companies grow, Ron Johnson, formerly of Apple, executives need to change their role from price setter to pricing decided to overhaul US retailer JC Penney’s pricing strategy. His champion, and recruit dedicated shareholder value management pricing expertise, just as they objectives were admirable: 75% hand over financial matters to a CFO, operational matters to a of inventory was sold at 50% COO, and so forth. off, thanks to 590 sales a year. 22 | Modern Business Magazine
Jon Manning (right) and Greg Eyres (left) run the website PricingProphets.com, the worlds first and only online pricing advisory service where companies can ask a panel of global pricing experts and thought-leaders what price they should charge for a product or service and why. http://twitter.com/PricingProphets http://www.youtube.com/user/ PricingProphets http://www.linkedin.com/ company/pricing-prophets
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Modern Business Magazine | 23
WHY BEING A GOOD PRESENTER IS NO LONGER GOOD ENOUGH Becoming an inspiring presenter can have a positive ripple effect on everything you do in business and this is true whether you are a business leader, marketer, entrepreneur or business owner. By Gabrielle Dolan Why is being an inspiring presenter important? Why isn’t it OK to just to be OK, or why isn’t good, no longer good Enough?
If you are an entrepreneur being a good presenter verses and inspiring presenter may be the difference in securing investor funding or not.
In an age where most people can pretty much find out everything they need to know from a Google search then just providing information is no longer good enough. Your customers, potential customers and employees most likely have access to the information, what they are looking for and need is for someone to help them make sense of the information.
If you run your own business or are pitching for work, being OK or good versus inspiring might mean losing customers and business to a competitor.
Daniel Pink in a Whole New Mind articulates this when he says ‘we have moved from the information age to the conceptual age and the people who will succeed are not the people that just provide the information but the people who help others conceptualise it.’
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If you are a leader, being an inspiring presenter may just result in the next promotion. Look at Barack Obama, he won the American Presidency because people truly believed he would be an inspiring leader, because he was an inspiring Presenter. Like it our not, every time you present people are making judgments about you.
employer, a future supplier or Partner. So if presenting is part of what you do, it’s important to realise this because suddenly that 60 minute presentation or sales pitch, takes on a whole new meaning. That presentation has the ability to impact, either negatively or positively on your future success. It truly can have a ripple effect, both personally and professionally. So if we understand that good is no longer good enough and we need to aim to be an inspiring presenter, it’s worth spending some time defining Inspiring. When we define inspiring we tend to use words such as ‘motivational’, ‘moving’ and ‘influential’.
Yes they are critiquing your presentation style but more importantly they are making judgments about your ability as a We believe an inspiring leader, judgments about your presenter always does two ability as a business owner, a things. future
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PUT YOUR CAREER & BUSINESS IN 1st PLACE SUBSCRIBE TO AUSTRALIA’S CAREERS & EMPLOYMENT PUBLICATION They connect and they influence Being an inspiring presenter people to act; and they do this becomes critical because from a place of authenticity. every time you present it is an opportunity to sell yourself, By connect we mean they your company and your connect with their audience; Message. the audience connects with them and their messages. And every time you use that opportunity you seize By influence we mean they the chance to have an impact, influence action - this could to influence and to create a be as varied as getting their positive ripple effect. audience to think about something differently, to Gabrielle Dolan is a global providing funding or engaging thought leader on organisational their services. storytelling and an expert So right or wrong, fair or unfair, if you are not inspiring when you present people will assume you will not be an inspiring leader, you will not be an inspiring person to work for, you will not be someone they want to do business with. This is the painful truth and the reason why being good, is no longer good enough.
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CAREERS MAGAZINE
in making good presenters Inspiring. For more information and workshop details, go to:
CLICK HERE
www.onethousandandone.com.au
TO GET YOUR FREE COPY DELIVERED DIRECT TO YOUR INBOX EVERY MONTH Modern Business Magazine | 25
HOW TO RUN YOUR OWN PUBLICITY CAMPAIGN - IN FIVE EASY LESSONS By Jules Brooke
Lesson One:
Media contacts
It’s all well and good to want to get publicity for your business, but where do you start? Well the first, and perhaps one of the most important things you need to do, is prepare.
You will need some up to date media contact lists before you get started. Remember the wider you cast your net, the better response you should get.
Identify your target markets (i.e. who will buy your products or In order to run a campaign effectively, you will need to have service) - and then create some media lists that target those the following: customers. Of course, we sell contact lists on our website, but Goals if you have the time, many of the What are you hoping to achieve? contacts can be found online or via some phone calls to the Have a think about what you various media outlets so let really want to get across and nothing stand in your way! who you want to hear your Messages. Photography Media release
This can be crucial to the success of the campaign. Some Make sure you have identified good quality, hi-resolution the angle/s that you think will (1-2MB) jpegs will make a big make your story newsworthy. Then write up a media release, difference to the media. Ideally you will need at least one or following the format we have two ‘lifestyle shots’. By this we detailed on our website. You just need to make sure you have mean that it shows your product your media release ready to go or service ‘in use’. It might - in electronic format as well as be a shot of a child riding the printed versions to send out with scooter you want to publicise, or a customer undergoing your samples. 26 | Modern Business Magazine
beauty treatment or wearing your jewellery or accessories. You will also need them as low resolution (lo-res) images for the email you send out to the media. If they are interested in using it, they will ask you to send them a high resolution (hi-res) version. Samples If the media are interested in your product or service then it is likely that they will want to experience it for themselves. You will need to allocate some stock to send out to the media as samples. Be aware that these are often not returned unless they are of a very high value. If your business is service-based,
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then work out a way to let a journalist try the experience for themselves. You may also want to set aside some vouchers/ stock for promotional purposes.
Remember that if you are targeting customers nationally, the national media will be receptive. If it is local, then the local media will want to know.
Often the media will be happy to run a competition for their readers or viewers, in return for prizes. This can be a cost effective way to get coverage.
Lastly, but definitely not least, you will need a biography (background information) about the person who will be available for interviews - whether this is yourself, an expert in the field or someone else you have Nominated.
Website/list of stockists You will need to make sure that your website is up to date and that you are happy with the content before you start to tell the world about it! If you sell your product or service from the site, then make it easy for the media to see the prices and the availability. If you sell your product from retail stores, then have them listed or offer a phone number that people can ring to find their nearest Stockist.
Before you get interviewed on radio or TV (and sometimes in magazines), it can be handy to have a short biography to send through to the journalist so they have an idea about the business and can formulate some relevant questions to ask you. Okay, so once you have all that together, you are just about ready to get started.
Jules Brooke Handle Communications and Handle Your Own PR Ph: 0409 494 490 www.handle.com.au www.handleyourownpr.com.au (Au/NZ) www.handleyourownpr.com (USA) www.handleyourownpr.co.uk (UK)
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Modern Business Magazine | 27
LET’S NOT TALK ABOUT BRAND Here’s an idea. Heresy in many circles. Downright subversive you could say. Let’s not create a Brand. Let’s not build one. Let’s not talk about our “personality or essence”. Let’s let our logo and name just be our logo and name. In short, let’s not talk about Brand. ByMichelHogan Let’s have a different conversation instead. Over 10 years ago Saatchi & Saatchi CEO Kevin Roberts proclaimed that Brands were table steaks, old hat, of no use to anyone. At the time I disagreed with him wholeheartedly, but during the ensuing years I’ve come to see he had a point.
worse it gets strip mined of it’s history and legacy in service to whatever the agency d’jour deems the latest incarnation.
and what expectations we want them to have.
Let’s talk about how we can meet those expectations (not I’m also not here to suggest we exceed them because that takes give “Brand” another name. (Full a lot of resources with little disclosure I do have a word I use return). to describe what I talk about, but that is not a replacement for Let’s talk about alignment of all Brand.) What I am suggesting is of that across different areas of that we put Brand out to pasture our organisation. Granted, it wasn’t the point he for a bit. Give it a little holiday was making (which was in and let’s talk about the things we And most importantly let’s talk support of his “brand already do in our organisations about how we connect those replacement” Lovemarks). instead. Things that don’t need a things up and really understand moniker or label to be them so we can make promises However, in his contention that understood. we can keep and keep the Brand has had its day – well on promises we make. that front, I now agree. Brand Let’s talk about why we are Consistently. today has become a crutch. That doing what we do in the first thing organisations too often place. Because in the end that is what do instead of the things they will get people to remember you, should really be focusing on. The Let’s talk about what our values talk about you and come back distraction. Make a lot of noise are. What we believe and how for more. over here and over there maybe we show them. people won’t notice everything Let’s not talk about Brand. they aren’t doing. Let’s talk about our products and services. What problem do they Michel Hogan is an independent Made little more than the pawn solve? Why will people want to adviser and advocate dedicated of marketing whim, it too often buy them? to helping organisations make promises they can keep and keep finds itself sacrificed to hype the promises they make – with and “unkeepable” promises so Let’s talk about who the right a strong, resilient organisation out of alignment with what the people are for our organisation and Brand as the result. She also organisation can really deliver as and how we want to treat them. publishes a blog at michelhogan. to be almost fictional. Or even com. You can follow Michel on Let’s talk about our customers Twitter @michelhogan. 28 | Modern Business Magazine
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Modern Business Magazine | 29
HOW TO TAKE ADVANTAGE OF GROUP BUYING FOR YOUR BUSINESS By Mikel Kew
• Use Deals Wisely
• Lower Customer Acquisition Cost
• Great Service The key to Success Group Buying and Daily Deals are no longer just for consumers; businesses can now get involved in this growing trend and can save their company thousands of dollars in the process.
Group Buying Rules for Business
and IT support to SEO, printing, business coaching, office equipment, cleaning services and much more.
There are some basic rules to follow with group buying deals for business, both as a customer Benefits for the Risk Averse and a vendor. Group buying and daily deal sites The advantages work two-fold, have become the Australian As a business owner or someone as not only can a business save online success story of the past charged with the responsibility money on products they need, two years, with a market now for purchasing, group buying is it can also advertise directly to worth over $500 million annually, an excellent way for business their business audience. and growing. Group buying has to trial a new product or service taken this country by storm and before committing to a longer Unlike traditional advertising, the likes of Scoopon, term involvement with that there’s no upfront spend LivingSocial, Spreets and Cudo supplier. whatsoever, just a commission have become household names. taken from each sale that brings In a way it’s a no risk a new customer through your More than 5000 deals are environment. door. published every month, with an average of 1 million vouchers There is no onus on the As an advertiser or vendor it is sold, as consumers scramble to customer to continue purchasing important to consider that your find discounts on everything from the product or service and there offer is structured correctly and restaurant meals, jewellery and is no risk to the vendor as they that you are able to deliver the holidays to electronics, incur no costs unless the deal is product or service at the discount clothing and massages. accepted by the market. price without compromising on your customer experience. But while the public has been Used well, group buying sites cashing in on this bonanza of can save businesses around Many purchasers of group cut-price offers, business has 70% on many of their most buying deals will be doing so to been slow to catch up. common overhead items, from evaluate your ongoing value as stationery, office supplies, coffee
30 | Modern Business Magazine
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a supplier, so it is important that you are able to deliver at a very high standard. Customer Experience is Still the Key In fact, in providing a great customer experience, the ongoing value from your new customer will significantly outweigh the discount given in the original promotion. This is particularly valuable for industries that typically have high customer acquisition costs.
This has a flow on effect, meaning more and more businesses are taking advantage of group buying as both a customer and a vendor. B2B group buying is the next big thing in Australia’s online business industry, and it is just getting started. Be smart and utilise it well. Buy what you need or want to try out. Trial various promotions of your own products and services, after all there is little or no risk involved.
Maturing Sector Group buying for business is still very much in its infancy in Australia, but with the market predicted to grow to over $100 million in 2013 it is has the ability to have a significant impact on your business and if utilised well, your bottom line.
Everyone Still Loves a Great Deal Business owners are always looking for ways to save money or get an advantage over the Competition.
Group buying for business, if used well, is another excellent We are now seeing some major opportunity that businesses must companies becoming vendors on consider. group buying and business deals sites as these sites become more popular and sophisticated.
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Mikel Kew is Co-Founder & CEO of Bargains4Business, Australia’s premier business group buying and deals site. Mikel is also Director of Film Cartel and works as a technology consultant for a number of Australian eCommerce sites. LinkedIn: www.linkedin.com/profile/ view?id=53411085 Facebook: https://www.facebook. com/Bargains4Business Twitter: http://twitter.com/#!/ B4B_Australia Google+: https://plus.google. com/107036293438866621077 Pinterest: http://pinterest.com/ b4baustralia/ Website: http://www.bargains4business.c om.au
Modern Business Magazine | 31
COMMON BRANDING MISTAKES SMALL BUSINESS MAKES Branding is extremely important for small companies that want to grow and sustain their businesses for the long term. It is a major challenge for a small business to establish a brand because of the lack of funds, resources, people and time. Yet branding is what makes your company attractive to investors, consumers and future employees. Your brand is the relationship you have with your customers and relationships are not built overnight. A lot of entrepreneurs have difficulty with branding because they prioritise product development and sales before meaning and experience. A company that doesn’t have a well-defined brand will have trouble with differentiation in the marketplace and with generating media awareness. Here are some common missteps to watch out for. 1. They don’t define a set target market In order to gain visibility in the marketplace, it’s imperative that you are specific with the types of customers you’re going after. You can’t be everything to everyone or you’ll be nothing to no one. Too many entrepreneurs think that they need a mainstream product for the highest potential sales. 32 | Modern Business Magazine
By defining and segmenting your audience, you can appear higher in search engine results and the “right people” will find you and want your product. Think about the age, gender, geography and lifestyle of the people you’re targeting and don’t be afraid to define your market in public. For example, instead of being just another accountant in suburbia, you can position yourself as “business mentor for young entrepreneurs in your region.” If a young entrepreneur is looking for business support, they will search online and your website will come up. Since you have a well defined position, they will choose you over a more generalist firm that doesn’t understand their needs. 2. They focus too much on advertising and not enough on PR Sixty-three percent of small to medium-sized businesses advertise online. While targeted advertising on specific blogs, websites, and through Google AdWords and Facebook Social Ads might help, it’s well worth the investment to get PR support and partner with brands.
Public relations is extremely important because what other people say about your brand has more impact than what you say about yourself. Self-proclamations don’t build brands; the your audience, your stakeholders and the media does. It’s far better to have a profile in a magazine related to your industry or sector than it is to pay for a full-page advertisement in the magazine. Earned media is much more respected by customers. Small businesses typically don’t have well-known brands so they require third-party endorsements and partnerships in order to become established. If people haven’t heard of your company, then it’s helpful if you create strategic partnerships with companies that your market is familiar with. By associating your company with a well-known brand, your company becomes more credible and your brand grows.
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YOUR TOP SECRET MARKETING WEAPON THE MONTHLY MAGAZINE FROM THE BUSINESS OWNERS MARKETING BRIEF 3. They don’t build a strong Web presence to attract new customers
4. They disable their employees from building their brand
Every single business should have a website, but 55 percent of small businesses don’t have one. How are potential customers supposed to find you? People are searching for you online and every time you don’t come up, there’s another missed opportunity to build your business and brand.
Half of all small businesses have a policy that prohibits employees from visiting FaceBook and other Social Media. Many also do not have a blog or newsletter and those that do don’t empower their employees to contribute. Small business owners should let their employees use social networking sites as long as they are doing it for the benefit of the company.
Consumers turn to the Web first before making a purchasing decision. A strong Web presence allows you to point people to where they can find more information about who you are, what you do and what products and services you offer.
Consumers want to hear your story and connect with your employees to get a better sense of your company. If you enable your employees to become evangelists for your company, then you will be able to scale Instead of blowing money on your marketing and foster advertising, invest your stronger relationships with your resources in social media and customers. Your employees your website. Consumers also should be able to build and turn to their friends, through develop their own personal social networks, when deciding brands because then they what company to purchase from. become more valuable to your company. That’s why it’s crucial, more than ever before, to create your own Andrew Brown is a small profile pages, and engage with business marketing specialist that helps start-ups get more clients your customer base. Start by concentrating your efforts on the faster. You can visit his web site: top three social networks: www.clientmachine.com.au Facebook, LinkedIn and Twitter.
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CLICK HERE TO GET YOUR FREE COPY DELIVERED DIRECT TO YOUR INBOX EVERY MONTH Modern Business Magazine | 33
WHY OUTSOURCING HAS BECOME THE KEY TO BUSINESS SUCCESS A combination of new business realities, delivery models, destinations and technologies has increased the utilisation of outsourcing strategies by SME’s and large enterprises alike. As more businesses realise the importance marketing plays in driving growth and achieving business aims many have turned to outsourcing to help ramp up their marketing activities.
This also brings employee recruitment and education challenges as businesses need to recruit and train staff to cope with this new marketing and technology. It is also bringing about a new appreciation for This has driven home the reality relationship building with all that many business functions are stakeholders as business owners better off being outsourced so carefully steer their business that management can towards it’s goals. concentrate on the key drivers of business growth and profitability Labour Shortage rather than managing timeconsuming and repetitive Despite the doom and gloom talk business functions. of the economy, unemployment is still at very low levels. This is There are still challenges though, unlikely to change significantly in with the talent shortage and the near future which means access to finance still remaining entrepreneurs will continue to find key barriers to achieving the it difficult to recruit the expertise growth business leaders desire. they need to grow their business. Many businesses are increasing their online presence with greater utilisation of social media, content and local marketing tactics to boost revenue. Many are outsourcing the day to day processes of creating & posting content, managing feedback and comments. Business is turning to technology to boost productivity and flexibility.
34 | Modern Business Magazine
Marketing, sales, finance and technical positions will be particularly hard to fill. Businesses of all sizes will lean more heavily on cloud-based software in particular Software as a Service (Saas) to facilitate project and client management as an increasing shortage of technology labour affects all businesses in 2012 and beyond.
This places a greater pressure on businesses to outsource some of these new roles in order to get access to the talent and knowledge required to successfully utilise these marketing and technology opportunities. Business is now learning how to integrate outsourced services into their operations as seamlessly as possible in order to pursue their commercial goals. Freedom & Flexibility Business has embraced outsourcing more than ever in an effort to be more flexible. New Media tools such as tablets, webinars, document hosting and videoconferencing have become more important in staff communications and training. The latest generation of potential employees insists on being able to work wherever they feel most productive. If that means at home, on a customer’s premises, or at a café, business will need to offer ways for those employees to keep connected.
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Being Where Your Clients Are As the traditional retail economy struggles, clients won’t want to go back to paying higher prices. Many businesses have taken keenly to the online environment Social Media has also been and to social media in recent times, using sites like Facebook partially responsible for the high levels of retail competitiveness and LinkedIn to broaden their with a clear majority of people reach to customers. While the that “follow” or interact with commercial zeitgeist suggests companies using social media every company should use this doing so to gain special offers or technology, entrepreneurs are scrutinising the benefits carefully discounts (71%) and make purchases (55%). to avoid wasting an investment that may be better placed in other As a result, business is finding media, including traditional ways to reduce their own costs to media, as that may be where restore margins, and zero in on clients are. Having the right outsourced partners to help you those customers who may be reach these clients has become willing to pay more, given exceptional service and best-ofvital to modern business industry products. success.
Finance Entrepreneurs trying to win over banks and other lending institutions are facing a tough audience. Banks aren’t going to open their purse strings to SMEs that don’t have incredible credibility. The European debt crisis has put financial institutions there under pressure. If a European bank were to fail, lending may be severely restricted, and we could easily see a return to the Global Credit Crunch that saw banks collectively review their lending policies based on their access to funds. This could mean that obtaining business finance whether to start or grow a business will be more difficult.
Relationship building will be the key to winning over these clients. Regardless of this, lenders won’t be willing to lend to businesses Here’s something that isn’t going While we would never suggest that lack excellent business plans to change anytime soon outsourcing relationship building – and in this day and age, you customers’ willingness to pay with your clients, outsourcing will can bet that more businesses more. Some companies have than ever are vying for the banks’ been discounting their products help business reduce costs, become more flexible and attention. and services to compete with provide more time to concentrate online businesses, discount on building these client Smart outsourcing to improve coupons and international relationships that are so essential cash flow (such as paying competitors, both online and new to staying competitive in the outsourced contractors monthly bricks & mortar arrivals. modern business environment. instead of staff weekly or Tough Customers
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Modern Business Magazine | 35
fortnightly) has helped many SME’s stay afloat and reduces the reliance on external finance options. Strategic Outsourcing Many business-critical, high-level services such legal, finance & accounting, marketing, HR, recruitment, facilities management, security, and strategic planning are outsourced. Modern outsourced service providers, have become more experienced at seamlessly integrating their services into client businesses.
Technology Convergence The convergence of social networking, collaboration and mobility platforms has created a significant demand for valueadded outsourcing services. Companies are increasing their emphasis on social media to source talent globally, position their products and services, and collect intelligence around their end users that goes significantly beyond SEO and SEM.
The use of cloud based services for document hosting, training, sales and promotional materials has been growing significantly for several years and as more companies look to replace outdated intranet solutions with more secure, flexible and functional cloud-based solutions, printed marketing material with digital brochures and look for more measurable marketing solutions that the cloud offers; integrating these with existing business functions, processes and strategies has become vital.
The Cloud
The roles of sales, marketing and IT have become somewhat As cloud computing solutions Collaborative and Strategic continue to proliferate worldwide, merged. Very few businesses can find candidates with the Alliances and Partnerships customers and suppliers will knowledge and experience to continue to struggle to comply deliver the results required for with increased government Models where customers and modern business. This is where regulations, the real risks of service providers work cyber-security and threats of eco- outsourcing comes into its’ own. collaboratively to develop performance-based partnerships terrorism. The best outsourced providers are being increasingly used by have teams that deliver for clients companies. Business is moving Having said this, the growth in across these disciplines so that outsourcing out of the back-office cloud solutions across the IT, the entrepreneur can concentrate Human Resources, Marketing and into more customer-facing and Digital Publishing functions on the business functions that processes and more strategic deliver the highest returns. opportunities making seamless means more businesses will integration by service providers need HR, Marketing & IT expertise that understands the even more critical to business technology. success. 36 | Modern BusinessMagazine
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Modern Business Magazine | 37
RUNNING WITH THE BIG DOGS AND WINNING BY PATRICK HANNAN
If you are a smaller company in your market, you often are competing against the idea that the safe choice is the right choice.
Here are some strategies and techniques to use when up against a competitor that trots out the “safe choice” fallacy.
1) Risk Ratio - Challenge your The best part of fighting Safeprospect to consider where they Choice Syndrome is that safety is want to be on the priority ladder a minimum standard of their provider. As the 21st measurement. If you can appear biggest customer of a big "safe enough" then you can win company, your prospect would on your compelling value. receive very different attention than that prospect will receive as Recently, I had a couple of a top 5 customer of yours. The business owners in my office who question is simple, "Who wants to had discovered that their largest be someone's 21st biggest competitor quantified its number customer?" one reason for winning contracts, over a third of all deals, from 2) Strong - Bring your strength to being the "safe choice." That was the conversation early and often it. not just your value. Take your best people, case studies, and clients That competitor wasn't better, into the early parts of the sales cheaper, faster or smarter. They process that show your strength were just perceived as safer. and stability. The safe-choice option only wins because of As entrepreneurs, we find this strength, stability and hard to stomach. We create defendability as a decision. Be advantages, best-in-class stronger. performance, tailored solutions and benefits. 3) 4 key safety flags - If safety is the operative term, then what can To be beat out for the reason that you include in your sales "bigger is safer" is intellectually conversations, presentations and offensive. This notion has to be proposals that will convey safety? crushed in every corner of the sales process that it is found. People - Demonstrate a sense of scale, interplay and uniquely Otherwise, smaller companies relevant resume experience to risk permanent second-position your prospects. status in larger sales opportunities. 38 | Modern Business Magazine
It's true - people buy from people. However, even more true is that people connect to safety with other people they see as peers, not sales people. Process - Illustrating directly the processes that you follow to achieve results gives the confidence of predictability and scalability that decision makers need to feel safe. Technology - One of the concerns of larger buyers when considering a smaller firm is that of scalability - "Does this little company have the resources necessary to grow and flex for my needs?" Your leverage of equipment, systems, software and platforms generates confidence that you can ramp up through technology rather than only by hiring, which carries many inherent risks. Experience - Your bona fides in the prospect's problems first, market second and industry third give them an anchoring reference point in defending the decision to go with the smaller company. You need to bring these to the discussion and hammer home the direct application on all three levels. Know that “safe-choice” is always lurking in the decision-making shadows of every big sale. Use these strategies to win.
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Modern Business Magazine | 39
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. 40 | Modern Business Magazine
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.
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 Personable - The graphic with the most up to date software. designer you work with should be It's essential that the company is approachable. They should able to offer you visual design carefully listen to your instructions proofs before you decide to so that they do not miss out on agree to the design project. any details. In addition, they should ask questions where But it shouldn’t end there. Too necessary, so that as much many designers and agencies information as possible can be are just proficient at using the availed for the project. software but lack real knowledge and understanding of modern Price quotations - Dealing with business requirements, marketing and brand design agencies can get a bit development as well as specific tricky when it comes down to industry knowledge relative to pricing. As such, be cautious your business. about the agency you pick, and ensure all the costs are given, prior to carrying out the project. If The best agencies have industry specialists, who have worked the work is on a contract basis, with many companies like your be sure to read all documents and understand the audience you before signing. This eliminates any future misunderstandings or are trying to reach. hidden costs. The agency should also have vision and be proficient in the Passionate - Good website technology available to ensure design and graphic designers are genuinely passionate about your message is consistent across all channels. their work.
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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
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Modern Business Magazine | 41
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. 42 | Modern Business Magazine
2. What was the driving force 3. What experience do you behind your decision to have helping small business specialise in the small clients? business marketing sector? More than I care to remember. How does 32 years, over 2,ooo In regard to my chosen target clients, 197 different industry market: I dislike corporate bureaucracy with a passion and types spread over four continents sound? by contract I like fast decision makers and pragmatists. So 4. Do you service other almost by default that means I want to work with business sectors as well? owners but not necessarily just the small ones. Anyone who has I’ve been approached and the autonomy to make decisions completed marketing strategy and the courage to back consultancy work for national themself rather than blame and international organizations someone else, that person is my including NFT, corporate and ideal client. educational institutes. But I don’t go looking for that work. If the Secondly in regard to why I enquiry looks interesting and chose to specialize in marketing they are prepared to pay and services: I like to go where the they are serious about cutting demand is and in survey after through red tape and getting survey, business owners cite effective marketing in place then getting more clients as their I’m happy to talk. number one need. 5. What are the main reasons Marketing is also a very honest that someone would choose profession in that you either get the 8020 Centre to assist with new clients or you don’t. I like the developing their business? measurability and accountability that goes with that as opposed Firstly, people can try before to some of the fuzzier touchy they buy. We have various feely business disciplines. opportunities for a prospect to get great value from us without investing one cent. Secondly, our stuff works.
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Thirdly, what we teach is simple and can be implemented by any business owner who had a modicum of determination and persistence. 6. What process, services and support do your clients receive? A free marketing plan course (21 modules over 30 days delivered online)
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! 8. Tell us about some of the expectations that you had. Have they been met?
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. 12. What would you say to someone looking to grow and develop their business?
That’s a hard one to answer because I keep moving the goal posts! It’s like I get to the top of Get your product or service so Free daily marketing ideas from one mountain and then see the that it works very well. peak of a higher one and go for world renowned experts called that. the “Business Owners Then focus your time and energy on becoming an expert marketer Marketing Brief” (BOMB) So in short, I’d have to say “no” or your product or service. There are also various products to the question. I don’t think that I will ever be satisfied with my That’s where the money is and in our online store and other business. I simply don’t like the once mastered, many find that programs but it’s best for anyone idea of not continually improving marketing is extraordinarily interested to sign up for the free what I offer. fulfilling because the better you marketing plan course and the are at it the more people you are BOMB. 9. Who is the target market for able to help. your business? 7. What challenges did you face in setting up your Any English speaking business business? owner who want to get more clients, make more money and For more information about the I guess the hardest thing was 8020 Center or to register for the have more fun. coming up with a business Free Marketing Plan please visit model that gave me both the 10. Do you provide services their website at: lifestyle and free time I wanted together with making marketing nationally? www.8020centre.com and value delivery as easy as Internationally to any English possible. or contact Tom Poland at speaking business owner in any tom@8020center.com country in the world. 24 | Modern Franchise Magazine maxiom
Modern Business Magazine | 43 maxiom
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Modern Business Magazine | 45
Your Business Experts Business Development Alliance
Strategise Systemise Commercialise Franchising is a highly competitive sector with a unique set of challenges. But we discovered that successful franchises have one common characteristic, and that is extraordinary “passion”. This is a key asset for any business owner, particularly in franchising - along with getting great advice - as Mark Fernandez from Business Development Alliance explains. 1. What inspired you to start BDA? What are your goals and values?
passion and determination. With our never ending search for excellence coupled with our experience we believe that we have a lot to offer anyone either BDA has been servicing the Franchise and Business sectors entering or already immersed in since 2002 and we have grown the sector. into one of Australia’s Premier Management Consultancy. Our 3. What experience do you values enable us to express have helping franchise sector what we do and what we believe clients? in, which, in turn enables us to put into practice what we are We have been involved in the committed to, which is – Franchising sector for over 40 excellence in everything we do. years and have experience across all facets of franchising. Our goals revolve around With this vast experience we providing the best advice, believe our clients can only service and education to benefit from what we have Franchise Networks whilst learned along the way and that assisting and educating brings expertise to the table prospective franchises to when making those critical become more profitable. business decisions.
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 capabilities and experiences to assist any small business find its growth path. 5. What are the main reasons that someone would choose BDA to assist with developing their business?
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 2. What was the driving force Our Director is a Committee when expanding however, may Member of the Franchise behind your decision to Council of Australia WA Chapter not be aware of the boundaries specialise in the franchise in which that control can be and is intimately involved in a sector? exercised. number of well recognised brands within the sector. Its all about passion!!! This sector demands a high level of 46 | Modern Business Magazine
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We have had many clients over the 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. 6. What process, services and support do your clients receive?
completing the Viability Study, Financial Modelling, Scripting Operation Manuals to Training and Recruitment. The real work starts 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.
8. Do you provide services nationally? Yes we do, we have worked in all states and territories in and across our beautiful country. 9. Do you have any plans for overseas expansion?
We are looking to form international affiliates with 7. Who is the target market for companies that have the same We provide a ‘one stop shop’ for your business? values and principals as us. franchising your business. We undertake all activities in setting Typically we find that business 12. What would you say to up a franchise; everything from looking to grow and have heard someone looking to franchise about franchising but not really their business? sure what It’s all about. Yes they know of the major brands but are The key here is to get good looking for a guiding hand to quality advice. If you want to be take their business to a new successful in an industry that level. employees around 650,000 Australians and contributes Business that have been more that $140b to the operating successfully for at Australian Economy, then you least 12 months and are need to have a relentless search profitable are now looking to for excellence. expand. With this in mind, setting the structures and putting the Surround yourself with the best infrastructure in place for growth advisors that you can afford and can be a costly exercise and get out and chat to people in the without sound advice can leave industry – these are my top tips you exposed and put your for business that are looking to business at risk, hence we are grow through franchising. finding more and more Mark Fernandez - brings over 20 Mark Fernandez entrepreneurs seeking years of senior management mark@bda-online.com.au experience in business development professional advice. and franchising to your business. www.bda-online.com.au 24 | Modern Franchise Magazine maxiom
Modern Business Magazine | 47
CREATING A REVOLUTION IN YOUR INDUSTRY By Siimon Reynolds
Why do businesses fail? Certainly research indicates that lack of capital is one of the reasons. Another is the inexperience of the founders. But I believe many businesses fail because of a far more fundamental reason: Look behind their flashy new websites and grand PR releases and typically you’ll find that most businesses are not different in any substantial way from their competitors. Their products aren’t unusual, their distribution model is the same old stuff, their pricing strategy is ho hum and their overall value proposition is just more of the same. The truth is, almost every sector has hundreds more companies than it needs. If a new company opens that doesn’t offer a significant advantage, why on earth should it survive? Which brings me to your Business. If it isn’t growing at the pace you want, then perhaps it’s time to take a long, hard look at what you’re offering.
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If it’s basically the same as everyone else then it’s time to change it – and pronto. Or you could end up in the corporate grave yard. Why not take an hour this week to brainstorm ways you could differentiate your offering? Here’s a checklist you can use to help you radically separate your business from the herd: • Focus on a different customer – older, younger, richer, poorer or in a different location. • Offer your products in a different way: online, offline, by subscription, by mail.
• Offer the biggest range, or cut your range dramatically. • Specialise in one tiny niche and be the best in the world at it. • Create totally different payment terms- lease your product instead of selling it for instance. • Be extreme in your product’s Design. • Add technology, or remove technology. • Add features and make it remarkable, or remove features and keep it simple. I’m not saying it’s easy to
• Move from business to consumer to business to business, or vice versa. • Charge much more, or much less.
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business, but almost every week I see it being done. Here’s an example I recently discovered:
So even though they may sell an $1800 bag for only $200, it’s still highly profitable for them. Now that’s smart.
It’s called www.runwaybidder. com.
So if RunwayBidder can revolutionise one of the most competitive industries on the planet, so can you. And I urge you to do so, because if you’re not offering any special, your chances of building the business you’ve dreamed of are Slim.
RunwayBidder offers women the chance to get high end shoes and bags for 90% off. That is not a misprint; they actually sell top line brands like Gucci, Jimmy Choo or Chloe for a whopping 90% off. Understandably with a promise like that women all over the world are jumping on the site. The big question is, how can they make any money with that Model? Well pretty easily as it turns out. They auction each item like many fashion websites, but they have one primary difference: they charge you money to bidabout 70 cents each time.
They say that ‘Fortune favours the brave’. I think it favours the different.
Over the last 25 years, Siimon has created multimillion dollar businesses from the ground up and is now teaching other entrepreneurial business people his systems for success. He started the Photon Group and grew that company to be worth over $500 million while employing over 5000 people so he can definitely help grow your Business. Siimon has a passion for helping entrepreneurs build and grow so definitely visit his website and download the free ebook and business building videos. http://thefortuneinstitute.com
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Modern Business Magazine | 49
GETTING THE RIGHT TRAINING TO MEET BUSINESS AND CAREER GOALS BY PAUL NEWTON
Today, the average employee has 6 careers and 14 jobs in their working lifetime. Our parents generation (we’ll call them baby boomers to humour the demographers) embraced having a “job for life”. Our working life has changed substantially in one generation and will continue to change. Whether we are the CEO or an employee, we must continue to learn or be left behind. Never before has the term “lifetime education” been so important. Studying for a new qualification can often be one of the most effective ways of boosting your business or career prospects, whether by enhancing your CV or by equipping you with professional qualifications that will enable you to improve business performance, gain a promotion, or to move into a new line of work.
Simply put, the world has changed. We are more mobile, our adoption of new technology is rapidly changing the way we live and the way we work.
So how do we choose the right education and what are the options?
Our education is becoming obsolete in a short time period. What we spend years learning at University is now often obsolete by the time we graduate.
One of the first considerations is whether to choose an academic or a vocational course.
Only a decade ago, if a person came to me looking for a job and they had more than three jobs in their lifetime, I’d ask myself “what’s wrong with them?” and “why can’t they keep stable employment?” and put them to the bottom of the pile. Today, if a prospective employee hasn’t had a range of careers and employers that demonstrate a path of growth and development I find I’m shuffling them to the bottom of the resume pile.
We now must continue to learn all our lives just to meet the minimum standards expected of us. The more we learn, the more options for new careers, directions and opportunities arise.
Generally speaking, academic Qualifications - such as bachelors and masters degrees - focus on theories and concepts, whereas vocational courses teach the hands on skills relating to a specific profession such as nursing.
So what has changed so much in such a short period of time that has turned our perception of job candidates on its’ head? 50 | Modern Business Magazine
Of course this is putting strain on our education systems which will undergo the largest change in our history in the coming years. The way we learn will have to change to meet our needs. Our broader economic, business and personal futures depends on this.
Academic or vocational?
Consequently, a vocational qualification is likely to have a more immediate effect on your job prospects as you’ll be able to prove to your employer that you already have training relevant to the job at hand. In fact, in many industry sectors, such as accounting or IT, there is a clear vocational learning
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pathway that must be followed in order to secure certain roles. Will employers value your Qualification? One of the most sensible things to do before signing up to any further study is to speak to your employer or other employers in your sector to find out which qualifications are most sought after. If your motive for further study is to improve your prospects then this should be a prime consideration. You will soon realise that there are a wealth of courses under umbrella subjects but often with slightly different content and objectives, so it’s essential you choose the course most pertinent to your job or your aspirations.
needs of employers and their workers ● your employer may get help with the costs ● your employer may pay for or subsidise your costs Some employers run “mentoring” schemes to help you get on at work. Find out from a senior member of staff whether your employer runs any training or mentoring schemes. If they don’t, ask if they would consider setting one up. Classroom-based or Internet based learning?
Once the most relevant qualification has been identified, your next move involves finding the learning provider that offers Another good reason to discuss the most compatibility with additional learning with your your existing commitments and employer is that it will help you learning preferences. Do you tailor your learning to the roles study in a formal classroom you are suited to. Plus nearly all setting or over the Internet from employers support employees your office, home or wherever learning because: you are at the time. ● having a skilled workforce Is the training provider can help boost accredited by a reputable productivity professional body? ● there are training schemes which can be Horror stories of bogus courses designed to suit the and qualifications have been all
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too apparent in recent years, as many education providers fail to keep up with the technological and structural changes transforming our industries and our lives. It is important to check that the course is accredited by a bona fide professional body. Many education providers claim to be approved by a range of institutions but sometimes this is either untrue or the organisation in question has no legal authority or government recognition. If you’ve opted for Internet based learning then you should look for appropriate accreditations that you can confirm and talk to past students or those giving testimonials about what they found so useful in the course. Is the course recommended by other students and business? Often the best way to get a feel for a course and the benefits it is likely to have is to contact former students. The course provider will usually be happy to assist with this, and current or former students, having been in your position, will usually be happy to discuss the pros and cons of the course.
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From as little as $99.00 per year you can post unlimited job vacancies on the Maxiom Jobs web site. 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.
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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!
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Modern Business IntelBuild Magazine Magazine | 53 |3
THE FUTURE OF MANUFACTURING
By Gene Stark
Manufacturers need to focus on consumer needs and changes in technology In one word - MARKETING - the changing needs in the market place! Mass Marketing & Traditional Advertising as a real science were born after WWII to make the ‘masses’ aware of all the wonderful new products being produced by mass production which was beginning to come out of its’ teenage years of the 1920’s.
The Age argues that Australia must keep the skills to sustain economic diversity. The article makes the following points:
But is this really a problem and is it the real problem? Here are 2 great articles that examine the future of manufacturing and the changes this will bring to the workforce and the economy.
● ALMOST 1 million Australians work in manufacturing, compared They are great because they focus on the future instead of with 135,000 in mining. the past and they provide ideas Rather than complaining about on how to best survive in this ● Only retailing employs the things manufacturers cannot time of change. more people than control, they need to start taking manufacturing. marketing seriously to remain ● www.theage.com. competitive and relevant, whilst au/opinion/politics/ ● Decline in the ignoring statistics and market manufactured-crisismanufacturing sector has data that added absolutely no 20120428-1xro9.html and accelerated in the past value. three years, with more ● www.economist.com/ than 100,000 jobs lost. There are some future trends node/21553017 that cannot be ignored! ● Neither the government In summary the future is not nor the opposition has Here’s a typical headline from given any indication that bleak, but: the last few months, and there they see the crisis in is no doubt that as sad as it is, ● the government and the manufacturing as more maybe these sorts of headlines industry (employers and than an opportunity to lash have become and will continue employees) need to let go each other. to become the staple of the of nostalgia business pages here in Australia In New Zealand the figures and globally! ● “…we still need to MAKE are slightly different because the economy is less reliant things but the number of The Headline reads on mining than Australia. But people employed to do “Manufacturing needs more the exact same lessons for so will keep decreasing than promises” - an opinion manufacturing apply. and this is called piece from February 10, 2012 in productivity. Even in China manufacturing jobs are in decline!” 54 | Modern Business Magazine
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● “…the manufacturing successes in New Zealand & Australia come from niche manufacturers in areas that require high skills and high precision.” Niche is the operative word here! Differentiation through your product offering and marketing communication (branding - how your customers and prospects perceive your offering) are the order of the day! ● “…service industries are more diverse and less tangible. But productive work is productive work. What should it matter if we make a dollar’s worth of tractors or code a dollar’s worth of websites?” Smart manufacturers have realised that the greatest value is in new product ideas, products that solve problems in new and cost effective or convenient ways! They have realised that design and marketing of these products is what actually makes money! And the one thing that cannot be replicated quickly and easily is the relationship that you build with your customers! The rest can and will be copied
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and patents are unlikely to help you for long! To illustrate the point here’s another quote “Factories used to move to low-wage countries to curb labour costs. But labour costs are growing less and less important: a $499 first generation iPad included only about $33 of manufacturing labour, of which the final assembly in China accounted for just $8.” Guess where the other costs went? Design, Marketing, Distribution…
Already, hearing aids and hightech parts of military jets are being printed in customized shapes. The geography of supply chains will change.” ● “The lines between manufacturing and services are blurring. Rolls-Royce no longer sells jet engines; it sells the hours that each engine is actually thrusting an aeroplane through the sky.” ● “Like all revolutions, this one will be disruptive. Digital technology has already rocked the media and retailing industries, just as cotton mills crushed hand looms and the Model T put farriers out of work.”
● “Offshore production is increasingly moving back to rich countries not because Chinese wages are rising, but because companies now want to be closer to their customers so that they can respond more quickly The question is - are you to changes in demand. And some products are manufacturing your future by listening to the market? so sophisticated that it helps to have the people who design them and the people who make them in the same Place.” ● “The first two industrial revolutions made people richer and more urban. Now a third revolution is under way. Manufacturing is going digital…the applications of 3D printing are especially mind-boggling.
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EVENTS THAT TELL YOUR BRAND’S STORY
By Naomi Walshe
Public Relations often leans toward pitching and placing stories, but events are a different - and equally effective - strategy to increase your brand’s exposure, share your key messages, and ultimately generate quality engagement with the media and your target audience, in fact all your stakeholders. Here’s what you need to know about getting an event on the calendar and making the most of it when the day comes. Join In or DIY
Be sure to reach out to the event organizers well in advance event panellists and speakers When it comes to events, you have two options: taking part in tend to get confirmed quickly industry events, or hosting one of - and suggest an interesting, relevant topic that the intended your own. audience will be able to relate to and get excited about. Get in on Other Events There’s no better way to promote your brand than to position yourself as an expert on a relevant topic or industry in front of an audience you care about. Check in with the organizations, brands, or trade publications that host events of particular interest to you, and put together a calendar to keep track of what’s going on and when.
Host Your Own
Then, think about which events you might be able to participate in - are there any panels or sessions that your brand should be a part of? Get yourself booked!
But keep in mind that you don’t have to do it all yourself. Look for opportunities to partner with other interesting companies relevant to your brand by having them co-host or sponsor the event or moderate the panels.
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This allows you to get exposure to a whole new network of people and align yourself with other respected brands (not to mention help keep your costs down). Use PR to Your Advantage
When it comes to events, the world is your oyster - PRWhether it’s a networking speaking, that is. Whether you’re breakfast, industry conference, sitting on a panel or hosting a or cocktail reception, an event grand opening at your office, can help you raise the visibility keep these tips in mind to ensure and credibility of your brand you maximize the many directly with an audience of your opportunities you’ll have to choosing, including current and engage with your audience. potential clients, key journalists, and industry influencers. Get in Touch with Media As soon as you have them available, share details of the event with media outlets and on your social media platforms. As you firm up specifics like speakers and event partners, share that news as well, via all the same Channels.
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To further engage your audience, create a hashtag for the event on Twitter (or see if the event you’re joining has one already). Beforehand, ask followers questions related to the event, like what they’re most excited about seeing.
Work the Room When you’re at an event, regardless of whether you’re hosting or attending, always have a sense of who’s going to be there beforehand.
If there are key journalists During the on the list, make sure you event, send live tweets, know who they are and what Facebook updates, Tumblr they cover, and make sure you posts, or YouTube videos that get in front of them. If there are highlight any unique content, like social media influencers or high a behind-the-scenes peek of a profile industry guests, be sure cocktail party or an interview to introduce yourself. The more between two industry leaders or homework you do, the better thought leaders in your own prepared you will be to tell your organisation. story to the right people.
Or trends in the industry that you’re noticing? Also think about the trends and news that everyone else will be talking about. Whatever the hot topics of conversation are, make sure you’re actively participating. Organisational Storytelling is big business now, so make sure your story is interesting and relevant.
Get professional coaching from organisational storytelling specialists if need be. Hone your teams’ skills and practice. When attending an event or holding your own, remember that Finally, after the event, follow up Know What to Say every piece of it is a reflection with media outlets and bloggers of your brand. So be a gracious to provide them with recorded host or guest, a lively (but polite!) That said, make sure you’re interviews, quotes, videos, or panellist, and an active prepared to tell that story! Photos. Before an event, prep your team networker. and run through what you really Anything that might spur want attendees to know. Do you Above all be consistent. And their interest to write a story no matter what the venue, make have important news about the event (or add to a the most of the PR opportunities announcements planned? Are story they may already have in there any new, noteworthy clients there that’ll enable you to tell the works) is worth sending over. you’re working with that you can your brand’s story. talk about (with their permission, of course)?
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Modern Business Magazine | 57
ALWAYS BE CHANGING THE NEW ABC OF SELLING • Become the architect of tomorrow’s business relationships. • Create new and extraordinary customer experiences. • Make these experiences intentional. With the increased pace of technology bewildering many businesses it can be difficult to maintain focus on providing an extraordinary customer experience when your customers have embraced these new technologies but your business hasn’t.
So what are the definitions of each of these customer types?
they’ll go to social networks and ask people “what do you think I should do?” They’ll ask for information or recommendations, Traditional read the reviews of their peers, they’ll do in-store research using They watch TV, read newspapers and magazines and their mobile phone – so they are much more empowered and they have conversations in the real world with other people and much more informed. are not really going to change Connected Customers - a much in terms in how they $4.2 Trillion Dollar influence and how they learn in Opportunity the future.
Many marketers still produce communications based around traditional marketing and sales strategies, disseminating messages pushing their brand Online like in the old world sales mantra, ‘Always Be Closing.’ These are the customers we have come to know over the Customers Are Changing last 20 years. They start their So Must You search with Google, they are comfortable with getting However, as your customers informed through web sites and change and find information they are very comfortable with in new ways so must your ecommerce. marketing adapt to meet customers’ needs. Connected In his book, “The End of Business as Usual,” Brian Solis talks about the three types of Customers: 1. Traditional 2. Online 3. Connected
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They live in mobile & social networks…a key difference between connected individuals and the other two types of consumers is that connected individuals look for information in a different way, expecting it to come to them via their peers, so instead of going to Google,
The Boston Consulting Group (BCG) reported in “The Connected World - The $4.2 Trillion Dollar Opportunity,’ that businesses that have changed to become “high-web” are the most Successful - increasing revenues and profits and creating more jobs. High-web organisations use a range of Internet tools to market, sell, and support customers, interact with suppliers, and empower employees. This is compared to medium-web businesses that market or sell goods or services online, lowweb businesses which have a website and/or social networking site and no-web businesses that have no web presence at all.
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Business One significant change is that Brands are now co-created through the experience of our customers. This is a huge and fundamental change that many businesses have found hard to swallow. It changes the way that a company has to market itself. Companies now have to change the experience to meet customers’ needs.
Customer Journey Is Different To the Marketing Roadmap Recognizing that the customer journey is different to the path the business wants to follow is another key to creating extraordinary customer experiences. Putting customers in the sales funnel and progressing them in the traditional sense is no longer relevant because your customers are finding information in different ways.
others about what they want, so the touch points that businesses now have with these individuals are different to the traditional sales funnel.
How businesses use the strategies and information they put into the various communications channels determines how successful they are likely to be. Unfortunately, many companies are still using traditional marketing strategies when communicating with Engagement is the way connected customers. This is that businesses change the why when measuring social experience. However, just adopting new technologies, The customer decision-making media marketing against brand having a Facebook page or a journey for connected customers engagement on Facebook the website doesn’t have an impact and how they influence others is engagement level is only around 1% - because much of the unless the customer experience different than for traditional marketing efforts are simply not changes. customers. worthy of engagement. One example of this is the Connected customers look for Influence Drives Outcomes decline of newspapers. In information to make informed Australia there have recent decisions and then they share announcements of mass that with their connections, who Businesses also have to ensure layoffs by the major newspaper are in effect, their audience. that when consumers find publishers and a move to a information about you that they greater digital presence, but find the information that you want When the new connected none of that will mean a thing them to find. Connected people customer wants to make a unless their customer find information about you one or decision about a product, they experience also changes. two ways, because they either go online and start talking to follow you now or someone they know follows you. Influence has
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become so important because It’s All About The Experience businesses can be influential, as what they share and what they Customer experience is the next say drives outcomes. big trend in business. Experiential outcomes will Change Is A Cultural Thing become your new mission or vision statement. If you want people to always say great things about you and Stop and ask yourself what type recommend you then you must of experience are you trying to change. We all know that the create? Is the experience process of change is hard, but intentional? first you have to recognise that you must change, then, decide As a business owner you are the on the process. With the one who should be defining the increased pace of technology customer experience, because if development businesses must you’re not then your customers constantly adapt. Rigid business will be when they share those models are no longer working. experiences with their connections…their audience and In fact, moving forward, having an their audience shares them with adaptive culture is one of the their audience and so on… biggest foundations of business success. Connected customers look beyond the ordinary and don’t As Brian Solis pointed out, 40 settle for uninspired products per cent of fortune 500 and services. companies over the past 20 years have gone…and that is Connected Customers Pay because they failed to change. More, Buy More & Buy More Many more household names Often are running the risk of disappearing in the near future Connected customers already because they have failed to buy more than traditional or change. online customers, they pay more
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for their products and services and they buy more often. But connected customers won’t settle for low value products, services or experiences. For business this means creating an adaptive culture within your organisation that embraces change and becomes predictive so that you create a customer experience that people will find extraordinary enough to want to share, over and over again. Connected customers make up a significant percentage of your potential market. In some sectors they are already the dominant group. So are you willing to change? Do you want a share of the $4.2 trillion dollar opportunity? Or as Brian Solis put it, will you succumb to Digital Darwinism? Mark is CEO of Maxiom Group. Maxiom delivers the Business information and advice you need straight to your inbox. Best of all, it is completely FREE and open to everyone. Learn more at www.maxiom.com.au
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GETTING TO KNOW YOU: MISH McCORMACK We talk to Mish Mccormack of Mishfitness about her international expansion plans and why workplace health & fitness is now a key component of managing energy levels and creating a high performing workplace . What inspired you to start Mishfitness? What are your goals and values?
What was the driving force behind your decision to specialise in workplace and suburban health promotion I had been working in the fitness Programmes? industry for Les Mills as a Personal Trainer and loved The driving force behind it. I wanted to be able to offer my decision to specialise in a lot more than I could as an workplace health and suburban employee, so I set up health promotion programmes Mishfitness to expand the client was to inspire and motivate base I was working with and people to exercise that were not reach more people. naturally led to exercise. I believe everyone can improve I have remained closely aligned their life through regular fitness with Les Mills and our and health programmes and I arrangement is a huge win-win had a huge desire to make a for both of us; that was important difference to the health of our to me. I’ve always been very nation. For me, the best way to goal-driven and superdo this is to motivate and inspire passionate about what I do, so as many people as possible into setting up my own business was positive action. another fantastic challenge for me. What type of customers do you help? What experience My objective is simple: to use do you have helping small my knowledge and skills to business customers? improve as many lives as I can through encouraging people to My customers include corporate adopt a fit and healthy lifestyle. professionals, and suburban clients ranging from full time parents to local professionals, as well as small business customers, corporates and athletes. 62 | Modern Business Magazine
I love working with business clients (eg SMEs and corporates) as I find they are highly motivated to change. They are usually very time-poor and having us initiate and manage their fitness programme means they can focus their valuable time on their business. They just have to turn up to my sessions and participate. Business owners and corporates also are fun to work with and generally make significant progress with their body evaluation measurements, and as they are used to measuring KPIs this usually propels them into implementing a great maintenance programme, as well as setting further goals and targets. Do you service other sectors as well? I also work with the political sector, and have initiated several group training programmes such as the free waterfront fitness programme.
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What process, services and supports do your clients Receive?
Establish short term goals
Setting realistic and easily achievable short term goals Research has shown that those at the outset keeps my clients interested and motivated who want to exercise, rather than know they have to exercise, thereby easing them into the are much more likely to adhere exercise habit. I introduce them to a regular fitness programme. to more challenging longer term Wanting to exercise is enhanced goals later on. through continually visualising Start slowly a successful end result and experiencing, early on in the I develop programmes at the programme, activity-related outset that my clients find benefits such as feeling fitter enjoyable and I ensure that they and more energetic. progress at a pace they find comfortable. If they are pushed Accordingly, we use the too hard early on and are not following techniques and enjoying their programmes they services to support my clients and ensure they stay motivated: soon become disenchanted with the process and lose motivation. Help clients understand the Change the programme Benefits
What are the main reasons that someone would choose Mishfitness to help keep their It is important early on in the programme that I continually workplace healthy? reinforce with my clients the benefits of exercising. If my Business clients choose clients want to exercise to Mishfitness because they improve themselves they know Mishfitness is a trusted, are much more likely to stay reliable and award-winning brand. Mishfitness offers a very motivated, whereas if they are exercising because they feel professional and affordable guilty about not exercising, then service, personal attention, regular follow-up and monitoring, it will almost certainly be tough going. and above all positive results. Mishfitness walks the talk and this also inspires our clients.
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Boredom with an exercise programme quickly saps motivation. For this reason I make regular but appropriate changes to the programme so that my clients’ interest doesn’t begin to wane. Nutritional advice It’s generally accepted that it’s not at all easy to out-train poor nutrition. Nothing is more motivational for clients than
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making steady progress towards their goals and I make a point therefore of regularly discussing nutrition and helping them make better food choices.
I have much betters systems and support structures now and have been able to consolidate and grow and become a respected national brand.
Keep records and provide frequent feedback
Tell us about some of the expectations that you had. Have they been met?
I keep detailed records of the exercise programme and the monthly weight, body composition and girth measurements. Feedback is provided on a regular basis and this in itself can be very motivational. For corporate clients I have a very structured process of body analysis and achievement measurements. What challenges did you face in setting up your business? Like all businesses I faced the usual challenges of securing capital, and I was personally very stretched for time like most new business owners and totally overworked in the first stages. However, I found solutions to these challenges and now manage my time so I can work both on the business and in it.
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My expectations have been exceeded! I love running my own business and some of the achievements we have had at Mishfitness are well beyond my initial expectations.
in Fitness Life and other Magazines. What type of services do you offer? Do you provide services Nationally. Mishfitness offers corporate health programmes, seminars, community fitness events, personal training, group fitness programmes, advice and coaching. Do you have any plans for overseas expansion?
I have developed a loyal client Having stated in Wellington, base amongst corporate clients. New Zealand, we are expanding into Australia and we are also Winning national honours currently looking at opportunities four years running was fantastic to reach more people via digital for our profile. Also, the media and the web, so yes, this achievement of creating definitely includes a global and running the free waterfront component. classes really boosted Mishfitness in terms of us being I believe our fitness able to give back to the professionals lead the world community, which exceeded (this is supported by the fact a our goal expectation early on in huge number of our top trainers the business. I have also gained are recruited offshore, plus the respect and brand awareness world’s most successful fitness amongst general consumers brand is the New Zealand based through my regular features Les Mills brand).
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Once you have the feedback, recruit a professional to help you develop a fun programme that does not intimidate the employees in the first instance, yet inspires and motivates them to participate. Set goals to encourage friendly competitiveness (for example between departments) and measurements across a variety of variables so various team members have the chance to win across different KPIs. This in itself adds weight to the Mishfitness brand and I look forward to taking my business International.
Introduce incentives or prizes to give them targets to work towards.
Our programs are all about ensuring your workplace is healthy and fit, managing energy levels for both management and employees and creating a high performing workplace.
Mish McCormack and Max Bowyer are passionate about helping business improve workplace health, fitness and performance. Mish won national honours four years running at the Finess Life Awards and Max, after a successful career in business spanning many years at both senior management and director levels, is now following his passion to help businesses improve their health and fitness.
You could also engage guest What would you say to speakers to talk on motivation, someone looking to improve stress management, nutrition and other topics. workplace health and what For more information about advice would you give them? Mishfitness visit their web site at Be aware that you will have a www.mishfintess.com range of personalities within My advice would be to set up your team and some will be a programme that engages the employees and develops a self-conscious and shy in regard to health, fitness and exercise in sense of comraderie, fun and the first instance. Competition. Your first step could be to run a survey amongst your team and get the input of your employees. There is no point setting up a running programme if 90% of your team have no motivation in health & fitness, hate exercise or have (knee) injuries.
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We generally find that once they reach a certain level of engagement, the psychological benefits of exercise kick in and that provides the motivation for ongoing participation.
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