JULY 2015 // expo edition
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business & Lifestyle V o i c e o f t h e S m a ll B u s i n e s s C o m m u n i t y In this Edition //
2015 budget
Are you telling or selling. p13 lifestyle entrepreneur. trading time for money. p15 // Dorota Dancewicz www.omojo.com.au
impact on small business Small businesses are the bread and butter of our state. In fact, 96% of Australian businesses are classed as small, they employ over 4.5 million people and inject over $330 billion into our economy each year. There are more and more small businesses being started each year and this growth is not slowing down. The Australian Government has given small business some extra concessions and tax boosts within this year’s budget announcement. Here we discuss what the
changes are and how these have been affecting Perth businesses. What’s the difference for small businesses?
The main difference this financial year is the tax break for purchases up to $20,000. This is up from the $1000 threshold last year. This means big purchases are more attainable for small businesses and tax deductions are available this financial year rather than waiting. The rule will apply for each item up to $20,000 and lasts until June 2017. Read more p6...
100 most influential in perth’s small business community p17 why business people need to fall in love? p19 improving your business the feng shui way. p24 Entrepreneur interview feature: ray mancini. p28 And much more...
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welcome // A word from the CEO It’s certainly time for a fresh new look and feel! To our readers, who have been following our work, constantly giving us feedback and encouraging us in our journey... Thank You. This is yet another step forward for us. We can now proudly say that we definitely are The Voice of the Small Business Community. As an entrepreneur, ‘Making Big Decisions’ can be hard. However, knowing and ‘Believing in those Decisions’ makes navigating and moving forward easier. We have been through an exciting 6 months. Since the start of the Nifnex Success Academy earlier this year, we have successfully brought the community together to learn, share knowledge and be mentored by some of Perth’s finest corporate leaders. Our mission is to provide inspiration, positivity and knowledge to the small business community and also to reinvent the concept of ‘Networking’. It is NOT about exchanging business cards and selling. As my mentor and good friend, Ron Gibson puts it, ‘It needs to be about building relationships.’ It is best to dedicate the ‘networking time’ to learning and sharing knowledge in a casual, friendly and vibrant environment.
This builds trust and relationship, which either directly or indirectly leads to winning more business. It excites me to see like-minded business people resonating with our new networking concept. You have possibly made it the fastest-growing business community in Western Australia! We are proud to announce that we are in the process of commencing licenses in Sydney, Melbourne, Singapore, Dubai and India. If you know anyone across the world with an entrepreneurial mindset, a drive to succeed and a passion in helping the business community, I would love for you to put me in touch with them. This special Expo-Edition is a gold mine for everyone, whether you are in business or not. Enjoy the read! We’ll see you at the Small Business Expo on 10th July in Ascot Raceway. Do come along for our next Success Academy event (More details on the back page).
Zeeshan Pasha Founder / CEO
Connect on LinkedIn: https://au.linkedin.com/in/zeeshanpasha
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JULY 2015 // expo edition
4 Keys to Peak Performance as a Business Owner! // Rueben Taylor Business Wealth Educators Much like how an Olympic athlete strives to achieve peak performance when they compete, we can also achieve peak performance in our businesses and lives. Here are 4 principles that you must understand and apply to better help you perform at your best.
Which Cloud?
// Ramzi Bahbah First Focus
complicated. A solution that works for one business may not work for another.
Cloud Computing is one of the biggest emerging trends in the IT industry today.
“ The key in making any IT decision is to ensure that your specific requirements have been taken into account when designing the solution”.
It’s possible you’re already using Cloud hosted software or applications already such as iTunes, Dropbox, Office 365, or Netflix, and further adoptions of these technologies is set to grow rapidly into the future. At its most basic level, cloud computing refers to a collection of technical infrastructure (servers, storage, and software) housed in a data centre, and made available to be used over a network. The variety of cloud services is quite broad, and ranges from specific applications such as Salesforce, to more basic building blocks like Amazon Web Services, which can be configured to replace traditional server hardware. Because “The Cloud” is a catch-all term referring to many different products and services, there are just as many stories and opinions both positive and negative about whether the cloud is the “right” way to go. The question instead should be which cloud? The answer, unsurprisingly, is a bit more
This requires an in-depth knowledge of what makes your business unique. How much data do you have? What sort of internet links are available at your offices? What software would you like to use? What devices do you want to use to access the software? What are your security requirements? What infrastructure and licenses do you currently own? The answers to these questions should then form the basis of an overall strategy that allows your IT infrastructure to support your business, not act as a handbrake on it. Managed Service Providers like First Focus have years of experience in designing and implementing solutions both in the cloud, and in more traditional “on-premise” configurations, and can help you navigate all the available options to ensure you get the most out of your investment.
1. Invest Your Time in High Value Activities. Your time is your biggest limiting factor – you only get 24 hours in a day. When you begin to understand how valuable your time is, you start to focus on high value activities and you automate, outsource or delegate the low value activities. 2. Address the Real Problem. It’s easy to get caught up dealing with problems when they arise. You try to fix the issue at hand, whether it’s unhappy customers, jobs that went wrong or team issues, but often the underlying problem persists and reoccurs. Peak performers look for the root cause of the problem, they ask questions and be honest with themselves about what’s really going on. 3. Daily Income Generating Activities You can easily get caught up in the ‘running’ of your business and by the end of the day you haven’t done any marketing, selling or other activity to generate income. Peak Performers make income generating activities a priority and focus that is non-negotiable. Aim to do just 5 income generating activities per day. 4. Learn To Ask “Who?” Too often in life we are asking “what”. What do I need to do? What’s my goal? Or “how”. How do I get my next client?
“ But the key to success is to actually ask “WHO”. “Who can I talk to who has dealt with this before?” Leverage others knowledge and experience.” By applying these key understandings to your life and business, you will put yourself in the best position to achieve peak performance in business.
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Why: “I didn’t know” won’t cut it anymore. // Samantha Robinson GW Marine Consultants How would your family survive if you lost all your assets and you were facing jail time? This is the harsh reality of the new Workplace Health and Safety (WHS) Harmonisation Legislation, businesses from sole-traders to corporations including senior management will be liable for Health and Safety in the workplace and the catchall “I didn’t know XYZ wasn’t safe” or “I didn’t know my employee’s weren’t doing it safely” won’t stop you receiving hefty fines or possible jail time. Key changes to the new WHS Laws are based around definitions of some fundamental words: The term ‘Employer’ has been replaced with ‘Person Conducting a Business or Undertaking (PCBU)’ and Employee is replaced with ‘Worker’ now defined as employees, volunteers, contractors, subcontractors, apprentices, work experience students and outworkers. The definition of ‘Person’ in PCBU is defined as not only an individual ie sole trader but also includes companies,
associations and partnerships. For example, a PCBU could be a retailer, manufacturing business, self-employed driver, government department, school, etc. Householders could also be classed as a PCBU if they employ directly (not via agencies) a nanny or cleaner, in this instance the householder would be liable and have to comply with the new WHS laws. How does this affect you? As a PCBU or an officer (Director, CEO, Owner, Manager, etc) of a PCBU you must meet the standard of behaviour expected of a “reasonable person in the same position and conducting the same duties”. Meaning, if it can be shown a hazard in your workplace would have been identified by ‘a reasonable person in the same position as you’ and you failed to identify the hazard, which caused an accident, then you would be held liable under the new WHS Laws. Whilst the WHS Laws have been legislated, WA is in the process of final review and is expected to sign this year. Therefore WA businesses still have time to evaluate their WHS standards and ensure they are in compliance when the new laws come into effect. “Not Knowing” will not be a defense in any WHS action taken against you.
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Combined Small Business Alliance of WA Inc. (CoSBA) CoSBA, had its genesis in the early 1990s as the Combined Business Association, which in 1998 changed its name to the Combined Small Business Association, in order to more accurately reflect its objectives. In our standing in the representation of Small Business we enjoy a close working relationship with the Small Business Development Corporation (SBDC). CoSBA made strong representations for the WA Small Business Commissioner’s role within the SBDC and are recognised as the peak Small Business organisation in Western Australia. Objectives of the Association Include: To represent members in a co-ordinated approach at all levels of government Local, State and Federal, in a non-political and non-sectarian manner. To represent members at organisations, conferences, seminars, locally, statewide and nationally. To encourage and participate in membership of similar business Associations. To conduct dialogue with other business organisations and associations. To promote and foster business alliances.
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JULY 2015 // expo edition
2015 budget impact on small business (p.1) Small businesses will also receive tax cuts this financial year. Incorporated businesses turning over less than $2 million will receive a tax cut of 1.5 per cent. Down to from 30 to 28.5 per cent. Whilst unincorporated businesses turning over less than $2 million will receive a 5 per cent tax discount. The budget also recognises the need for small businesses to get on board with the latest technology and acknowledges the rise of the tech start-up. They have removed the fringe benefits tax for work-related mobile devices to support businesses keeping up to date. There are also wage subsidies available to small business employers offering ongoing jobs to support our local economy. The government has announced these changes in order to encourage small business growth, help businesses employ staff, and support investment into local small business. The aim is to improve immediate cash flow for businesses and create sustainable long term economic growth. But what are businesses saying? Medium sized businesses turning over in excess of $2 million have received little help despite employing many staff and injecting money back into the economy. Payroll tax is a big expense here, and many medium-size Perth businesses believe help is needed to encourage more employment opportunities, where small businesses may sometimes be hesitant to employ staff in early stages. Brett Easton of Cablelogic in Perth states,
“ We currently employ over 60 staff and assistance of any description would be very appropriate at the moment especially in the area of payroll tax where we are penalised for employing staff, hence this is a real disincentive to anyone thinking of employing more staff”. Jamie Vine from Liberty Offices in Perth agrees that medium-sized businesses such as his were largely ignored in the budget. “SME’s are the future. Micro
businesses are staying small and big companies are invariably getting smaller through their focus on costs, automation and efficiencies, so maybe next time we can have an SME budget to really boost the economy”. In practice, Tracey Edwardes from Flawless Numbers says businesses should proceed with caution and careful planning. They might use the $20,000 raised tax threshold as an opportunity to purchase new work vehicles or equipment, however businesses should not splash out if they cannot afford it. Businesses should “make sure they have the cash flow to support their purchases and have worked out their numbers first.” Edwardes believes that working out your financial position is important in order to benefit the most from this budget and future budget announcements. Businesses are encouraged to “get their budget and cash flow forecasts sorted out for the next 12 months ASAP. That way when an opportunity comes up they already have the numbers sorted and can make smart financial decisions quickly to capitalise on the opportunity”. Gail Rogerson from GLC Business Services agrees that looking at your business financial situation is beneficial to maximise your opportunities and return. She has also found that “businesses are just getting on with being in business” after the announcement, and that the only conversation has been as to whether or not they are going to take advantage of the $20,000 capital benefit. The government is hoping that the money saved through immediate tax deductions and cuts will be put back into businesses. There is an online tool available on the Budget.gov.au website to determine how the budget will impact your business. They have also included case studies so you can see exactly how these changes might work in real life. The 2015 budget has been accepted well overall. Perth businesses are working with this year’s budget, however each business is different. It’s important to understand your own financial position and talk with qualified professionals to help you make the right decisions. If you require assistance with your small business, contact Nifnex today to be a part of our Nifnex Small Business Community and join in the conversation.
are you READY TO EVOLVE? // Sylvia Marina Sylvia Marina re you ready to SHIFT from where you are to where you want to be? Are you ready to STOP being the person you’ve been? Are you ready to START becoming who you’re supposed to be? Here’s my little toot for today! This is what I did. Stop listening to what others think you should do and be. Start being what your beating heart was born to be. It’s common knowledge that big events in life like losing a job, cash-flow anxieties, doing university because we didn’t know what else to do or how to evolve our dream, getting a divorce, renovating or moving brings high stress. Perhaps your inner agitation is none of these! Reoccurring unrest is a result of ideas and creativity being suppressed. Intellectually and medically we know, emotional suppression leads to illness and depression. Unless you are satisfied. Unless you are receiving joy and income you are worthy of... be courageous shift. Shift from where you are to where you want to be. Whether you are starting up or starting over again – • Honour your restlessness • Embrace your courage • Educate your curiosity • Be responsible – ignorance is no excuse •S tart receiving and acknowledging that inner glow of joy and satisfaction of doing what your yearning heart beats and throbs to do. Rather than shape another day, another week, another grave picture of not good enough. Rather than allow creative shyness, social muteness, frustration and perceived societal expectations to prison you in a façade of exaggerated or under-achiever expectations of others... Armor up and live, truly fully deeply madly... LIVE.
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CULTURE is EVERYTHING in your business. // Hems Thakrar Amani Finance
I have been asked many times why our staff turnover is almost non-existent and why our staff members who we call ‘Amani Family’ are so satisfied and engaged fully with their purpose and role at Amani. The answer is simple: It comes down to who we are. Our CULTURE. Amani has a company ‘Magna Carta’ where we have defined our values and we try to live by these values. Please see the diagram below:
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Applying the 80/20 Rule to improve your business. // Mike Schrick 80 Twenty I won’t go into the origins of the 80/20 rule here, except to say that it is a very common ‘rule of thumb’ within business (in fact within many aspects of life). Some typical examples of the 80/20 rule would include: • 80% of business or quality issues come from 20% of causes • 80% of repeat sales come from 20% of customers • 80% of things we do are trivial, 20% are vital • 80% of our calls are made to 20% of our contacts The list goes on, but the important thing is to firstly recognise that the 80/20 rule is very prevalent within business and our daily lives. A bit of basic analysis and measurement will prove this in most cases.
There are 7 levels of Personal Consciousness and we find that most companies have staff which operate at Level 1 to 3. Their purpose of being at work is Survival, Relationships and SelfEsteem. Amani is different as our team operates from Level 4 -7 where their Focus is on letting go of fears about survival, love and respect. Instead the focus is on finding meaning in existence, making a positive difference to the world and ultimately self-less service. These values are best described in a book – ‘The Go-Giver’ by Bob Burg. These values have the subtle effect of a change in our staff’s collective mindset which leads to change in their BEHAVIOUR. You may know of many companies where they have slogans which make claims that do not reflect what you actually see or experience. The external world, your clients, competitors and ambassadors will judge your company not by what you promise and say but by your BEHAVIOUR which ideally needs to be in alignment with your company slogan. This is brought about by encouraging the correct values through culture which causes a mindset shift leading to positive behaviour witnessed internally and externally.
Amani’s values are defined in a ‘Cultural Magna Carta’ which is quite detailed for this article, however I would like to summarise Amani as ‘A Noble Organisation’ which enables us to summarise our ‘Magna Carta’ as follows: A Noble organisation is Enterprising It carries itself with a visceral level of Authentic Dignity and Meaningful purpose that is compelling and self evident to any observer. It is CONTRIBUTION Focused when most organisations by nature are CONSUMPTION focused. In other words it operates as a ‘Business for Good’ It elevates the Value system to the status of being the Foundational Core of the organisation and Measures every decision against these Values. It establishes a Culture that fosters Voluntary Engagement in High Performance and Challenges everyone in the Enterprise to find Their Voice It engages with a ‘Nobility Network’ I hope this article has inspired you to focus on making a positive impact to your company culture. Remember that it starts at the top; with your behaviour.
Secondly, we need to identify those key 20% of root causes / activities / actions that are going give us 80% of the outcomes we want. Then comes the fun (and most challenging) part. We need to develop and implement clear strategies and solutions to leverage our efforts effectively. This phase requires discipline, resilience and perseverance and is the area where most businesses fail. Change is challenging, however the rewards of focusing on improving the core business drivers will ensure long term growth and sustainability. Another observation is that by eliminating the core 20% of issues, many of the other issues seem to diminish. This is because the most effective core business processes and systems have been established, that then ‘take care’ of many other issues. The most important thing to remember about the 80/20 rule is that it is a rough estimate and that it is a realisation that a few key actions will contribute to a large percentage of success. No matter how small or large a business is, we all need to leverage our resources effectively.
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JULY 2015 // expo edition
is being in the same room as Bill Gates & Warren Buffett on your bucket list? If you believe Google, the term “Bucket List” originated in the early 21st century: from the phrase kick the bucket ‘to die’, popularised by the 2007 film The Bucket List. Recently I was afforded an opportunity to “tick” a few things of my bucket list, with a recent trip to the US. Since my mid-teens I have been interested in stockmarkets and synonymous with stockmarkets is the name “Warren Buffett”. Love them or hate them stockmarkets are as much a part of our society as water & air and history will show that there has been is no better investor in them then Berkshire Hathaway (BKR)
an American investment firm headed up by Warren Buffett & Charlie Munger so when I received an invite to attend their company’s 50th Annual shareholder event, which was held in early May, I moved heaven and earth to attend. The initial journey from Perth to Omaha, Nebraska took around 35 hours, arduous to say the least, but the moment I landed in Omaha I was like a kid on Christmas Eve. The population of this Nebraskan city is circa 450,000 and over this weekend the population swells by a rumoured 40,000. All making the trek to what is colloquially known as the finance sectors “Mecca”.
After getting in at around 11pm on the eve of the event I went out to stretch the legs and acquaint myself with the city, it wasn’t a late night because I was told the next day we would be lining up for seats at around 5am… and so that’s how the day began. The doors to CenturyLink Centre didn’t open till 7.30am at which point it’s a first in best dressed scenario, and with only 18,000 seats available even a first grader could tell you some people would miss out… hence the early start. Fortunately I was one of the lucky one and managed to get a seat, but not before seeing a couple of Texas Longhorns
Read online www.NifnexReview.com.au walked by and a Wells Fargo carriage which was the transport of choice for the CEO, John Stumpf.
as “The Managers” one of which is widely tipped to succeed Warren once he decides to depart his role.
For those that weren’t as fortunate, or chose not to brave the early morning start, there were a number of ballrooms & conference facilities set up to take live feeds of the event in order to give everyone access to the event which is not televised or distributed externally.
The format of the meeting was a simple one, Warren & Charlie would field questions from first one of the journalists, then one of the analysts and then from one of the podiums in the wider audience. This format has been the format followed for as long as anyone can remember and as such was to continue today on their anniversary till the lunch break which was an hour then continue to 4pm. After that the necessary formalities of the shareholder meeting would take place and then the day would conclude.
Buffett & Munger weren’t due on stage till 9.30am and the annual video reel, or movie started at 8.30am so given I had an hour up my sleeve I took a walk around the Centre which housed all of the businesses that Berkshire have an interest in, businesses like Coca Cola, Dairy Queen, Nebraska Furniture Mart, Brooks, Russell Atheltic, See’s Candy, Wells Fargo, NetJets, Heinz and the list goes on. Each of these had displays, give aways and discounted items that were only available to the attendees/shareholders that were present at the meeting. The was also copious amounts of free Coke, coffee, danishes and given the meeting wasn’t going to finish till 4pm and the long flight I had I was certainly getting my fair share of intake of all of those. Rumour has it that Buffett himself consumes up to 6 cans of Coke a day in an attempt to stay youthful. Once the movie had started you could see the event was going to be special, and given the 50th Anniversary of the Buffett & Munger pairing the occasion was clearly evident in the banners and content. Occasionally I would look around and in awe wonder about the wealth that these two had helped create over their time together. When I was looking around you could see and hear Investors from around the world you could also notice the throngs of journalists and analysts that were looking for an ounce of information that would assist them making a different to their clients and own audience. Apart from taking questions from the journalists and analysts (handpicked and limited to 3 of each) there were also 10 podiums in the crowd for and the lines for getting in to see the two speak starts hours before the sun begins to rise in Omaha. When it was time for the two doyens of the investment world to arrive the entire crowd at CentreLink rose to a standing ovation, which seriously felt like it lasted a few minutes. The crowd eventually took their seats and the formalities began. Warren introduced the board, which included Bill Gates and his team that run the various businesses, they are commonly known
Naturally the questions from the journalists and analysts were very technical in nature and some were very topical with respects to the economic environment and effects on the various businesses the company held interest in. Some questions took in the greater effect of global conditions and whilst Warren answered most of the questions he also deferred some to Charlie, who at 92 years of age was extremely switched on and had a wit quicker than most half his age, in fact the two operated in such a comfortable unison that the reasons for the success of the pairing was evident, great communication. The questions from the crowd were interesting, and interestingly even more were the age of those asking the questions. The ages ranged from 12 to early 50’s not much older from my guesses but the audience tended to ask questions related to what continues to make them successful, how do they maintain their teams, what drives the culture within Berkshire, one bold lady even asked if she could take Warren to lunch to which he humble laughed and without saying no shuffled to the next question. The day was awe inspiring, and even writing this article the memories continue to provide smiles and a feeling of achievement. To find yourself in the company of people who have in no small way changed the direction of the human race, and between them Buffett, Munger and Gates have amassed a fortune in excess of $200 billion dollars that has all been pledged back to charity and their various other philanthropic endeavours is astounding. And when I was asked shortly after the trip what did I take away my answer was “how to succeed through simplicity”. What does that mean and how did the message come through, well looking at the companies that BKR invest in and the industries that they chose to be apart of there really isn’t anything that you or I couldn’t really understand,
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Coke, Heinz, dairy Queen etc are all very simple businesses that have a great brand prominence and deliver relatively simple products very very well. They have made mistakes so they aren’t perfect however how you recover from these, your reaction time, dictates the outcome. In fact they had a video from Warren’s long term Personal Assistant that explained what it felt like working for Warren through one of those moments. On the day they also were dealing with a protest out the front from one of their companies on labour issues. So nothing is ever perfect!
“ The last thing I took away is how they valued their people, Warren has a team in Omaha of just 25, whilst Charlie Munger has a staff of 1 in Pasedena. Again to me it echoed simplicity and excellence”. As the day concluded I was simply left aghast at what I was so privileged and grateful to witness. On the Sunday the group had a family “cook-out” or BBQ to us where the attendees could go relax have fun and rub shoulders with the two gentlemen, their board and management team. I didn’t attend this choosing to use the day to take a drive around Omaha, visit the offices of BKR & also drive past the humble residence of Warren, which ast the story goes he bought for a very modest sum some 50 years ago and has never moved from. From start to finish, form the arrival of the executives, to the Texan stampede for seats, to the brief moment when I could almost reach out and touch him, it is quite a day and one that will stay with me and benefit my clients forever.
// Conrad Francis Inspired Money
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JULY 2015 // expo edition
the decision to go to antartica. // Brett Easton Cablelogic It was June in 2014 and we were heading towards our 20th year in business with Cablelogic and I was facing a dilemma, weather to continue down the same well-trodden path we had been travelling which was getting tighter and more financially challenging or reinvent ourselves for the next chapter of business evolution. The answer was of course simple however the question challenging – so how and what do we want to evolve to and where do I start? I knew I had to expand my world and during the ongoing search I was inspired
one evening by Julio Delaffitte of JDL Strategies and Geoff Wilson the Australia Antarctic adventurer who were putting together a business entrepreneur’s adventure to the Antarctica starting on Australia Day 2015.
“ I knew immediately that I needed to be with these people to allow me to learn, grow and also to share what I had learnt over the past 20 years.” My decision was based on an intuition that I needed to reinvent myself first before I could began to evolve our business and that after years of growing to 100+ staff then downsizing again we had bounced off
a glass ceiling which I realized was created unknowingly by me and the limiting beliefs I had unwittingly carried with me; so the passion and the drive needed to be reignited again! I travelled with 105 incredible people from all walks of life and business experiences from startups to Billionaires. It was the most amazing 10 days of my life so far; where we collaborated; spoke openly and honestly, shared hopes and dreams for not only business but also doing the right thing by the planet and ourselves personally. It has only been since I returned and over the past 4 months after facing and reflecting on many challenges I am just starting to see what is seeking to emerge which is a new me, a new leader with a reinvigorated passion and purpose ready to begin the next journey of my life.
Read online www.NifnexReview.com.au
Leadership is a series of behaviours - so ladies, let’s take action. // Ruth O’Dwyer Business Strategist, Struth Ruth The art of empowerment and the creation of positive change is a ripple effect; and it has to start somewhere. Leadership values are more than a conversation; it is about empowering others with the tools to reach a vision for a better future. I am inspired each and every day by the women I meet and their open hearts and genuine desire help others. But there is great fear of the spotlight and great doubt in their achievements as leaders. As women, we just need to take stock of our mindset and judgements, and really open up to the knowledge that women already have valued leadership roles in our community.
At the heart of any true leader on a mission, is the ability to collaborate with others. When you are able to share and connect with others on a level that creates a change in the conversation, this is where the shift will take place. It is about creating a new perception of how things can be. Being a leader does not mean you have to do it alone; it does not mean that you have to be in the spotlight, it does not mean that you have to have a lot of money or even a lot of power.
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When Paper Clutter Stops You in Your Tracks! // Jay Shaw NE Solutions Pty Ltd Clutter isn’t usually a problem – until you need to find something and quickly. If I asked you to give me a copy of your current business insurance policies could you do so easily, or would you have to go through every filing tray, files on your computer, cabinet or box? Why would you need to give me a copy of your insurance policy anyway? Actually that was just an example.
Being a leader is about being willing to take action to make your desired change the current reality. It is about listening to that voice that knows you can do something to make a difference and having the courage to follow that vision.
We have so many important documents, and they become more important when we need them urgently. So, if you can’t put your hands on them immediately, then how much time would it take for you to find what you are looking for?
We are all leaders – we just need to know what to do with it.
So what do you do? You don’t need to tackle your entire clutter problem all at once, take one area or document at a time and decide: Do you need it? Why do you need it? And if so – then where do you file it? Electronically/ Hard Copy? If you don’t need it, can it be destroyed/ shredded or just thrown away? Have you categorised your files appropriately to find them easily? Don’t get caught out – file organisation can actually save an organisation!
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JULY 2015 // expo edition
ARE YOU TELLING OR SELLING? // Emmanuel Lardis Logicus Training Solutions
If during your sales presentations you are hearing your voice more so than your prospect. Then you are probably telling them what they want, without finding out what their key triggers are to make a buying decision. What you may perceive as value or benefit, your prospect may see as an objection. Talking less and listening more is a key discipline that will not only change the way you deliver your presentation, but will affect the outcome by increasing your ability to close more sales.
“Our mouth is what usually gets us into trouble. So make a conscious effort to speak less and little more” To put it into perspective. Let the 80 - 20 rule apply. Let your prospect talk 80% of the time to your 20%, by asking questions and following up at the end with your solution and the close or commitment. Now, why ask Questions? 1) To qualify your prospect to see if your solution suits their requirement
2) It allows us to gather intelligence and identify triggers to buy 3) It establishes trust as a solutions partners that is interested in solving rather than selling. 4) Allows you to better control the direction of the presentation and the final outcome
There are 7 main types of questions that help your prospect make a buying decision
to approve this decision?
6) Timeline Questions – These identify the urgency of the solution E.g. what kind of deadline are we working with? 7) Confirmation Questions – Used to reinforce the solution and draw out objections. E.g. what are your thoughts so far? Here are 7 additional tips:
1) Rapport Building Questions – These help establish a trusting relationships. E.g. how long have you been with the company?
1) Ask open ended questions
2) Need Questions – These identify the problem that is trying to be solved E.g. what are you finding most challenging right now?
3) Assume nothing, question everything
3) Uniqueness Questions – Tell us if the prospect has tried a solution or looking elsewhere. E.g. have you tried to solve this problem in the past?
6) Write down key intelligence to use as part of your solution
4) Budget Questions – These tell us if they have the financial ability and desire to solve. E.g. have you set aside a budget for this? 5) Influence Questions – Used to confirm the prospects authority as the decision maker. E.g. who else needs
2) Don’t lead or prompt your prospects response 4) Listen carefully 5) Do not interrupt
7) Add value to your solution that is relevant to your prospect By focusing on strategic questions that gather intelligence, you are not just selling, but solving. Your prospect will appreciate the opportunity to be heard and understood. They will feel more comfortable in having a trusted solutions partner who is interested in their current problems and requirements. Making the difficult buying decision, easy!
Read online www.NifnexReview.com.au
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TO REBRAND OR NOT TO REBRAND? 3 reasons to help you to take that step in the new financial year. It’s a brand new financial year and with it comes lots of exciting possibilities, refreshed momentum and renewed confidence in the small business sector. is this a better time to rebrand your business? The purpose of your rebrand should be to reconnect with your audience in a different, more meaningful way. It isn’t just about slapping a shiny new logo onto your existing framework. It is about digging deeper than that and redefining WHY you do what you do. Whether the changes are big or small, thorough consideration should be given before to go ahead. Here are my top 3 reasons to rebrand: 1. Your current brand looks dated. If your brand makes you cringe when you look at it, it’s probably a good sign to hit the refresh button. Rebranding will demonstrate your customers, competitors and team that you mean business, that
you are moving with the times, that you are on top of your game, and thus remaining relevant in a forever changing marketplace. 2. You need to shake off some negative publicity.
be taken lightly. So if you are thinking of taking the step, make sure it is for the right reasons. And if you feel a brand consultation with us would help, we’d love to hear from you.
Rebranding your company due to negative publicity is a hard task, but 9 times out of 10 is a worthwhile process. Demonstrating to your audience that you have changed from the bad to the good resonates with them that you have grown up and changed. 3. Your business is taking a new direction. Over time businesses may tweak, change or add new products to stay competitive and profitable. Throughout the twists, you may find that your goals and destination changes. It is important that your branding joins you on that ride to encompass the same vision. Remember, whether you’re looking to totally change your brand or make some minor alterations, rebranding shouldn’t
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Lifestyle Entrepreneur. Trading time for money In order to become a lifestyle entrepreneur, you need to commercialise your idea to the extent where eventually, you’re not trading time for money. That is, your idea is now generating income almost on autopilot. Let’s compare and contrast this to people who are in the employed or self-employed quadrants so that you can understand the benefits of commercialising your idea. People that are in the employed or selfemployed quadrants trade time for money. If you don’t rock up to work, you don’t get paid and I’ve certainly been in both these quadrants!
Finally, if you have an idea for a product then just like before, you need to validate it by testing the market. Find where your target market is and see if your product is something that they would buy.
What are over 55,000* business readers going to see in the next edition?
Next, pre-sell your product. Using a cleverly thought out digital marketing strategy, get people buying your product before you’ve even released it! Then reinvest this money into actually creating the product. It’s important to highlight that both strategies above require a lot of sweat equity initially, but eventually pay off to help you generate time and money so that you can be a lifestyle entrepreneur.
But how do we do this? Let me share some actionable strategies in order to accomplish this. First thing, if you have an idea to provide a service, then to commercialise it you need to first test the market and make sure you can get clients on board, so leverage your power base of family and friends. Next, you need to find people or companies that you can outsource that service to whilst setting up systems and processes in the backend so that the service can be delivered whether you are there or not. This will then free up your time to concentrate on scaling the business up whilst giving you the time freedom to be a lifestyle entrepreneur!
See page 17
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JULY 2015 // expo edition
Preparing to Buy or Sell a Business.
// Dale Wilcox Crush Business A division of RE/MAX Central
uying and selling businesses can be a complex process, fraught with risk and uncertainty. Those buying a business tend, naturally, to be very focused on the risks associated with that business and those selling tend, understandably, to be focused on what value the business holds for them and the great opportunities it presents for a buyer. In preparing a business for sale, therefore, it is important for sellers to put themselves in the prospective buyer’s position, consider what risks need to be addressed and develop strategies to address those risks. Examples include: Risk: The business is very reliant on the skills and business relationships of the owner. Strategy: Either put a manager in place or agree to remain working with the business, as a consultant, for a period after settlement. Risk: Some of the operations are perceived as technical and complex
Strategy: Prepare detailed procedures and training manuals. Risk: The business is reliant on a few large customers. Strategy: Try to put written customer contracts in place or obtain letters from key customers confirming that they will continue to deal with a new owner. Tips for Sellers, to maximise sale price: •E nsure that the financial accounts and the Add back Schedule are prepared by a reputable accountant and are fully compliant eg Fringe Benefits Tax paid on any benefits, Add backs clearly justified. •P repare detailed management accounts showing, for example, revenue by category and month, gross profit %, fixed and variable overheads, trends in key ratios. •S tructure the business to maximise variable v fixed costs. Buyers will analyse what could happen if, for example, sales fall by 10%. If the business uses a mix of permanent staff and contractors and has a low premises rental, it is more likely to be able to withstand such a downturn.
•E nsure that employment contracts are in place for all employees and that these are fully compliant with the Fair Work Act and relevant awards. •E nsure that the website is up to date and well presented. •W ork out a way to quantify the value of goodwill, if possible eg by preparing a schedule of recurring revenue. Tips for Buyers: •D ecide, in advance, what attributes you are looking for in a business eg easy to operate, 5 day week, low staff numbers, recession proof. Evaluate the opportunity against these criteria. •M aintain a balance between being concerned about risks and seeing the opportunities the business presents. Address key risks by ensuring that the sale and purchase agreement includes clauses to cover them. •S eek advice from professionals, such as accountants and lawyers. It will be money well spent.
Read online www.NifnexReview.com.au
What’s your brand worth? // Carol Kane Watermark Every business has a brand. In fact, you have a personal brand as well, which, if you are a small business operator, is probably inseparably intertwined with your business brand. Your brand stands for your business and for you. It identifies who you are. If used well, it has the power to communicate to potential and existing clients what your organisation is, what it stands for and what it offers. Take a moment to think of some iconic brands and reflect on the emotions that they evoke.
“A good brand, cultivated and managed with care, can pack a pretty powerful punch. It’s a valuable asset and should be treated as such.” But, fundamental and valuable aspects of brand, such as brand name or company logo are so very often left vulnerable. Sometimes this is due to misunderstanding, e.g. a belief that registering a business or company name secures the rights to a name (it doesn’t).
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Some business owners don’t think it’s worthwhile spending extra money for something they don’t think they need or don’t think they can afford, particularly when resources are tight. Unfortunately, this means that business owners may not in fact own or have the right to use visible aspects of their brand, or will face difficulties when trying to expand their business.
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What is your brand worth? What would it cost you in terms of money, inconvenience and loss of reputation if you had to change it or had to fight to keep using it? Risk can be minimised and valuable aspects of your brand secured by following one or both of a couple of relatively easy steps. First, check that nobody else owns the name or logo by searching freely available trade mark databases (in Australia, check out the trade mark search facility at www. ipaustralia.gov.au). Second, secure rights by registering the name and/or logo as a trade mark. Trade mark rights trump business, company and domain names and for the sake of what may turn out to be as little as a few hundred dollars, you can get legal and Australia-wide rights to valuable and visible components of your brand. In short, investing a little time and money early on can save a lot of grief and expense in the longer term.
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JULY 2015 // expo edition
what would get you NOTICED? Bake 260 brownies? // Charlotte Rubbo IMFS (In Mortgage & Finance Services)
How a Blog Can Supercharge your SEO Strategy. // Charles Ryder White Chalk Road A well-planned blog content strategy on your business website can grow your website’s audience, let more people know what you do, where to find you and how knowledgeable you are in your field. After a few exposures to your brand in this way, potential customers’ trust will build and they will be more likely to seek you out when they’re looking for your products or services. Furthermore, search engines aim to put quality websites at the top of their search results, so websites offering useful content are rewarded. Adding a blog to your site can help your site rank higher in Google in several ways. Fresh Content: Search engines want to give their users the most up-to-date information. While your product/service pages won’t change very often, blogging ads fresh, relevant content to your site. Additional Keywords: Your SEO strategy may be focussing on 10-20 core product/ service keywords, but what about the hundreds or thousands of other keywords customers would search to find you? A blog is the best way to cast a wider net, catching potential customers at all stages of the sales funnel. Inbound Links: Quality content increases your chances of other sites linking to you. Not only will this bring in more referral traffic, but the backlinks will also work towards strengthening your ‘Domain Authority’ – a core factor in boosting search engine rankings, bringing in more organic traffic too. Win-win!
As a newbie to the Mortgage Broking industry, my eagerness to step out to do things differently has certainly turned a few heads… Ready to add another string to my bow, I went to a networking seminar run by Ron Gibson of Go Networking, to help me grow my client referral base. At the end of the seminar, the participants were ‘networking’ and talking about ways in which to think outside of the box to obtain client referrals. We got onto the subject of cooking and how one of the participants sent recipes out to his clients every Friday to help them with quick and tasty weekend meals. The recipes ended up becoming very popular and he was able to use that tool to engage his target market. I mentioned that I enjoyed baking... and it got me thinking… The seminar was held at a large accounting firm, and one of professionals in my group, was the General Manager of that firm. We were talking about who would be your ‘ideal client’, and I said, “Well accountants actually, as they know the financial position of their clients and whether they would be in a financial position to be able to purchase a property.”
The General Manager then said, “Well I have 260 accountants upstairs that you can bake brownies for.” With eagerness, I accepted the challenge and said, “Yes, I can do that.” He wasn’t sure if I was serious, but I was.
“ Little did he know that I’m a woman of my word, and I do what I say I’ll do (statistics show that only 5% of business people follow through on what they say)”. Two weeks went by as I sourced what I needed to make my supply, and one Sunday I spent 14 hours baking up a storm in my little oven, making 260+ brownies! I wanted to make an impact, so I wrapped half individually with cellophane and ribbon with my business card underneath and a note attached. I called the office on the Monday morning to speak to the General Manager to say that I’m here with his 260 brownies. He was absolutely impressed and couldn’t believe his eyes! Needless to say, the accounting firm would like to help me obtain referrals. I’m planning on running seminars for their staff and clients for First Home Buyers, Investors, Re-financing and Professionals. He said that I will now be known as the ‘Brownie Lady’.
Read online www.NifnexReview.com.au
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Why business people need to fall in love. // Debbie Rivers www.dare2date.com.au
3. When you are in love you will hug often and this releases oxytocin which is the feel good/comfort hormone..
If you try to search for the benefits of love in Google you will get 505,000,000 results! That is a lot of zero’s and literally millions of benefits from being in love. What busy entrepreneur wouldn’t want that and better still love is FREE!
4. Living with the person you love can dramatically improve the health of your heart and prevent heart attacks. It also lowers blood pressure. But on the flipside you are more at risk of a heart attack if you keep changing partner!
There are endless songs written about love, even the Beatles sang ‘All you need is Love’ and they were right! People are made to have a deep connection with others and when we build great relationships the rewards we have are endless. We’re created to be social and connected to others, and if that need isn’t fulfilled, it can put stress on our bodies. So a strong and true love connection can work wonders. Those lowered stress levels will shine right through your skin! So what are the benefits? Here are 14: 1. SAVE money! Finding love could save the average single a minimum of $8000 per year. This is according to the Australian Securities and Investment Commission. How? It saves on the shared costs of living together such as rent, utilities, groceries, etc. 2. Being in love helps you live longer. Did you know that if you kiss every morning you can live five years longer?
5. Being in love makes you look the best version of you, it actually keeps your skin soft and smooth! It makes you look younger; so you can save money on Botox and aging products! 6. Love can help you combat asthma, arthritis, hayfever, nasal congestion and even a headache! It boosts your immunity and helps you fight all forms of disease/sickness and relieves pain. 7. It reduces stress and makes you less susceptible to depression. Again constantly changing partners does the opposite. 8. It gives you more energy. 9. Being in love improves your selfconfidence. 10. It can make your hair healthier and shinier. 11. Being in love can help your body burn fat quicker. 12. Being in love gives you a natural form
of amphetamine. No wonder it feels good and is addictive. Did you know the only other natural form is found in chocolate? No wonder we eat chocolate after a break up to make us feel better!
13. When you’re in love, it shows. Not only do you have that healthy glow, but you exude positivity. And, that positive energy will allow you to surround yourself with wonderful, positive people who will fill your life with even more love! 14. Most importantly, having love in your life will make you happier. There’s nothing quite like the feeling of being in love - it’s simply euphoric! And in these tough economic times, that euphoria is especially important. Having someone to share your ups and downs, successes and failures, worries and a few laughs with is an absolute necessity for a happy and full life. The road to love is also the road to happiness, so embark on the journey while walking hand in hand. With all those benefits who wouldn’t want to fall in love! Dare2Date can help you achieve this goal through their various services where you just may meet the one. But, don’t worry if you are single and aren’t yet ready to meet someone, genuine connections with the people in your life will provide the same benefits.
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JULY 2015 // expo edition
PPSR REGISTER: consequences to your business
small fee to save your business assets // Sharyn Roblom Your Cashflow Angel lot of business owners are not aware of the PPSA Securities Act 2009 that came into effect 29/1/2012 and the consequences to your business by not having the correct registrations in place. The PPSA Act means that if you extend credit, hire or leave plant and equipment of site, you need to secure your interest by registering on the PPSR registry. This act replaces about 70 pieces of legislation including REV’s and includes 750 pages of new legislation regarding ownership, retention of title and bankruptcies If you haven’t met the requirements of the PPSA act you could lose your assets as well as the liquidators, using a clause under the corporations act to claw back at least 6 months’ worth of payments that have been made to you deemed “preferential payments, in some cases then bankrupting your company of you can’t return those funds! This is serious and it is happening! In a landmark decision last year, an earthmoving company lost more than 1.4million dollars’ worth of equipment, had to return all assets reposed from the hirer before the appointment of the
receiver and ended up having to pay the liquidators costs as well when the court ruled in favor of the liquidator! All this could have been prevented if this company had done their PPSR registrations. Another alarming factor is that over 30% of PPSR registrations are invalid as the Government doesn’t monitor this and each registrations starts at $8.00, regardless of their validity this is a great source of revenue for the Govt. For a registration to be valid, the clauses need to in your terms and conditions of trade and your client needs to have signed a credit application accepting your terms and conditions of trade.
I haven’t changed, you just never knew me. // Sharron Attwood Brand Etiquette Have you ever really listened to the feedback people are giving you – about you? Try paying attention and you will gain valuable insight to the impression you are making. Then ask yourself – are they right? Do people see you the way you want them too? Are they experiencing the best, most authentic version of you or are you in fact getting in the way of your own success?
In some instances you may need two registrations, this is a very complex issue that could have dire repercussions if not executed correctly.
You didn’t just ‘wing it’ when it came to building your online presence did you? Yet too often I hear from people who do just that when it comes to representing their personal brand at work, in their relationships and in everyday life.
I am happy to meet with or conduct workshops to educate business owners on how to protect their business and lifestyle and to review their current terms and conditions of trade for compliance. The PPSR register is the “ insurance for your cashflow”.
You must agree it’s worth considering the impression you are making – not only in terms of how you look, what you say and how you say it – your personal brand is about expectation and having the mindset to effortlessly deliver on that expectation – every time.
I can be Contacted by email: yourcashflowangel@gmail.com or mobile 0498 800 002.
Your personal brand is whatever people say when you aren’t around – what’s yours?
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JULY 2015 // expo edition
Ladies... Let’s talk about money. // Deanne Carter JDL Strategies Listen up people… I can beat around the bush, and leave you with a warm fuzzy feeling, or if you’re game, you can get down in the trenches with me and read on. Let’s have a chat about money. Fact… we all want it, need it, earn it, spend it, and for many, we are trying to figure out how to get more of it? Yet… despite all of this… who really talks candidly with their friends to share knowledge, tips, strategies on what the best things to do are?
“ Over the last 10 years I have beared witness to an underlying confusion as people admit “I’m not sure if I’m doing the right thing” or “what can I do that is better” regardless of their current situation.” Deep down there’s a world of quiet desperation as we try to figure out how to get this money thing to stay in our corner. The problem is, there’s plenty of talk out there, and let’s face it, when you work hard to earn it, the last thing you want to do is risk it all, so who can you trust to point you in the right direction? It all starts with education, figuring out what’s really happening in your money flow, how can you move yourself to a debt free position as soon as possible, how can you not freak out when the credit card bill comes in, and what do you really need to know when building a sound financial foundation for yourself. And if you’re a woman, how can you set yourself (and your family) up to be financially secure? The stats are in and it doesn’t look good for us girls! It’s time for women to step up and take responsibility for their financial position too. One thing is clear, having money is a responsibility and it will respond to those who are in the know of what to do with it when you get it. Not knowing is no longer an excuse, it’s a choice. And you have the power to choose! Simply start at the beginning and get educated.
applying for a new job?
It’s not about ‘Skill Fit’ Anymore // Caron Marshall CM Startegic Consulting So we all think we make a “Great Candidate” when applying for a new job right? Well in all my 15 years’ experience of working in the Recruitment Industry and having recruited over a 1000 people across many sectors in both the UK and Australia, I can certainly give you a few tips as to “who makes a Great Candidate”. Did you know that 85% of jobs are never advertised to the general public?
“ In my opinion, the first thing that you will need is a good reputation and to be good at “networking” to ensure that you are in the forefront of an Employers mind when they are looking at recruiting an individual for their teams!” In the WA market it’s all about “who you know”! If you don’t have a big network, align yourself with a good Recruiter/Talent Manager like myself who understands and specialises in the Sector that you work in! They can certainly open doors for you and create opportunities that may not even exist yet! Cultural fit is now playing a key factor in the Hiring Process, it’s no longer a “Skill
Fit” with most Employers willing to invest in training of their new employees. Good academic skills are desirable but no longer essential for every role. Some other Key Criteria are good interpersonal and communication skills along with a high degree of self-motivation and candidates who demonstrate leadership qualities will also set themselves apart because this may contribute to their future succession planning, especially if you are an ambitious individual. Be well prepared for your interview, do your research on the company and have a list of key questions to ask them. Your attitude is a key factor too, be enthusiastic and show a high level of energy, this will also make you stand out. Going back to your reputation, this is also important, when you leave your employer never burn your bridges, always thank them for giving you a great opportunity for working for them and keep in touch where possible as you never know, you may want to go back and work there again one day! I could list a million and one other attributes but finally make sure you set yourself apart from your competition, always send a follow up email thanking the Employer for their time and express your further interest in the role, this always goes down well and shows your level of professionalism. So good luck, next time you attend an interview, make sure you are the “Greatest Candidate” by following some of my tips to impress your next potential employer!
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The Redundancy Rollercoaster. edundancies... a pretty hot topic and a cause for concern for many people and businesses right now. And we are hearing more and more stories of exceptional talent that put simply, just ‘can’t find any job… even if these candidates are applying for roles ‘beneath’ their skills and experience level. And companies needing to make these calls don’t usually make these decisions lightly, as they know that often they have trained and developed these staff members during the course of their employment, which is a cost to their businesses both directly and indirectly. These companies are also aware that if their businesses were to require staff in the near future, it will come at an additional price due to the recruitment costs associated with hiring supplementary employees, the training and development that it will take for these newly introduced employees to become integrated into their teams, with them taking time to learn new systems and ways of working (as happens in many new jobs), and additional infrastructure and equipment that might be required.
“ For the individuals, and their families, redundancies are taking a massive toll; not only on their personal finances but more-so on their selfconfidence and self-belief, as they are now ‘joining the cue’ with the many others who have similar skills sets and experience and who are also vying for the same roles.” If families have not considered and taken a proactive approach to the ‘what if it
ever happens to us’ scenario before being made redundant, financially many will find they will be doing it tough. There may be a need to sell personal items, even houses and cars etc just to get through the tough time. We are hearing from candidates who are living out of their cars, and others sleeping on friends and families couches because they just simply can’t find another job. The rollercoaster ride that is ‘redundancy’ does have some optimistic aspects to it; but unfortunately this may not be the case for everyone. Those aspects could include • An ideal time for individuals to upskill or gain further qualifications for when the tide turns, and so that they may be better prepared for additional roles to what they may have held in the past • Some ‘time out’… In our industry in particular, those who have been in it a while know how cyclical it is and will always be. In that case, those who have been in similar situations previously will also consider that in the ‘down times’ you may be financially secure enough to yourself have some ‘down time’. For those considering families, this might be a great time to start. Again it might also be a good time to undertake that qualification, degree, training that you have been thinking about, but haven’t quite got around to doing. It might also include that trip around Australia or extended overseas holiday – which might lead to some type of employment in itself.
salaries and pay rates, and quite possibly retain because of the current state of affairs. Our clients are having huge success with these candidates because people are grateful for an opportunity knowing how many are also out of work, and because previously our clients weren’t able to attract such talent, but now can.
“ It may also be a great time to implement job share, part-time or contract labour to supplement your business and offer these experienced candidates a job, with minimum outlay to your bottom line.” So yes redundancy is tough – for not only the individuals that are the ones with no work but also their supportive partners and families. It is also tough on the businesses needing to take such action. But remember there is assistance out there, in many forms and you may need to learn to ‘reach out’ to these support services right now.
• If you have been made redundant and offered compensation from your company, you might be able to ensure some is paid off on your mortgage, credit card or car loan. Just be mindful to keep some as ‘savings’ in case of a rainy day. For businesses that can afford to hire additional or complementary staff, now is an amazing time for you. With so much sought after talent around, there are exceptional candidates out there that you will be able to entice based on your operational needs, negotiate regarding
// Dani Tamati Recruitment Specialist
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JULY 2015 // expo edition
Improving Your Business The Feng Shui Way. Feng Shui literally translates to Wind & Water and the water harnessing the positive energy or ‘chi’ of the wind. Feng Shui is used to improve relationships, health and prosperity within residential and business environments. Feng Shui is thousands of years old and was only ever to be used for the Chinese Emperors so that they would continue to be prosperous and maintain their position of authority. If a Feng Shui Master was ever caught assisting anyone outside the court, he would be imprisoned and never saw the light of day again. Today, Feng Shui is used all over the world by business owners from the small home based, micro businesses to some of the largest corporations in the world, even the biggest banks in Australia use Feng Shui. To improve your business or work place why not experiment by trying some of these easy tips:1. Place a Lucky Bamboo in a vase of water on your desk or the Reception Desk; Bamboo represents ‘Longevity’.
Avoid having dried flowers or arrangements at all costs! They have no life and can create negative outcomes. 2. Keep your premises and your desk clear of all clutter. Clutter causes a business to become stagnant and very unproductive!
in the North section of your business premises or your office (do not place in a toilet or bathroom). 6. Place a 3 Legged Frog statue just inside the front door of your business premises, facing in as he ‘spits’ money and opportunities INTO your business
3. Should you have a Reception Desk or a Cashiers Desk, ensure that they are not placed in direct line to the door as this creates staff conflict and it is also considered confrontational to the perspective client. 4. Where possible, have your desk placed so that you have your back to a solid wall and you are facing windows and doors; this places you in the ‘Emperor or Empresses’ position. If this is not possible, then make sure you have a high back chair and place a small mirror on the wall in a way that it reflects just behind you, but doesn’t reflect you. 5. If you would like to increase your business or work, then place a bowl of water layered with blue stones, 3 blue candles and a statue of a turtle in it
// Sharron Brown Global Palace of Feng Shui
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winners:
nifnex Influential 100 Awards 2015
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The Nifnex Influential 100 Awards were created to honor the small business sector in Perth and recognising those who are doing something proactive in their local business communities, who are helping and also giving back. Organiser and CEO of Nifnex, Zeeshan Pasha, has created a business community which is thriving and is bridging the gap between the corporates, small to medium sized businesses, start up & graduates to learn and share their knowledge with each other through the Nifnex Success Academy. The Academy has had a massive membership uptake although only 2 months young and is already in talks with several potential licensees internationally. The Bollywood-themed gala awards night sponsored by Amani Finance was staged at Platinum Function Centre in Westminster on the 27th Feb 2015 and attended by more than 300 business people including Hon. Alyssa Hayden MLC; representing the Small Business Minister Joe Francis and the Consulate General of India Mr. Subbarayudu.
Alicia Menkveld, Radical Consulting Amanda Mackay, REM Consulting Apple Villegas, Account Master Global Solution Arna Van Ravestien, Imari Barbara McNaught, Momentum Forum Events Bev Letton, Wannerroo Business Association Big Al Connolly, The Whealth Group Candice-Marie Litchfield-Fox, iCandi Collective Carol Hazel, Carol Hazel Art Caron Marshall, CM Strategic Consulting Charles Ryder, White Chalk Road Christine Kopti, Christine K Photography Claire Eaton, Claire Eaton - ROC TEEN Craig Harman, Harmonic New Media Cyrus Roussilhes, Lighthouse Studio Productions Dani Tamati Tamati, The Resource Hub David Bearsley, Superior Business Networks Deanne Carter, JDL Strategies Debbie Rivers, Dare2Date Diann Bates, Creative Fruition Dinesh Bhatia, CFO Advisory Dr. Ann McCoy, ACN Emmanuel Lardis, Logicus Training Enrico Gismondi, MONDOTALK PTY LTD Fleur Allen, Out Of The Box Biz Fran Maunton, Feng Shui Fortunes Gail Rogerson, GLC Business Services Gary Pontifex, Reallogic Networking Gaurav M Sharma, Subpro Grant Grosser, SEQTA Software Hayden Dodson, Advanced Fitness Helen Golisano, Skindeep Medi-Spas Hems Thakrar, Amani Finance Ian Crawford, Condor Training and Consultancy
Janette Philp, Janette Philp Jennie Olszewski, Downsouth Deals Jennifer Rose Bryant, Women in Business WA Jill Hutchison, Evolve Dynamic Pty Ltd John Elliott, Elliott Insurance Brokers Jon Ellis, Rockingham IT Solutions Josh Winterton, Tiinkk Kash Bajaria, The Spice Merchants Kate Sanders-Tye, Verge Studio Kim Charles, Business Station Kim Barrett, Your Social Voice Kristy Adams, Mooz Mooz Photography Lisa Ravenscroft, Lady is a Trady Lisa McGillivray, Lisa Mack Associates Lita Squibb, Midas Business Services Louise Kelly, Louise Kelly Consulting Mia Shilkin, J-Fire International Mich Taryna Clark, Tremendous You Michael McCafferty, Prestige Catering and Events Hire Michael Fragomeni, Top EV Racing Michele Alexander, Your Local Business Coach Ming Johanson, OTOTGo Neil Gibson, CVW Creative Nerida Mills, Nerida Mills Nick Schmakov, Res-Q Nilesh Makwana, Tantra Technology Norma Reynaga, First Class Accounts-Currambine Pankaj Sharma, eKarma Paul Faix, Fortix Paula Smith, Self Leadership Institute Paula Jacobs, Design ino Pauline Bright, Pauline Bright Pauline Tarrant, Pauline Tarrant Consulting Peter Butler, Smarter Websites
Peter Taliangis, Professionals Ultimate Phil Platcher, Human Risk Management Group Pia Turcinov, Mystral Enterprises Ray Briene, Geckoblue Interiors Ray Mancini, SIG GROUP International Limited Richard Scholes, Waterfilter Man Rueben Taylor, Business Wealth Educators Rupen Kotecha, CFO Centre Sally Lovett, Coulson and Co Samith Pich, MOBE Sandra Spasojevic, Savvy Creations Sarah Cordiner, MainTraining Pty Ltd Shannon Bush, Creative Possibility Sharon Parcell, Talent Consortium Sharon Brown, Global Palace of Feng Shui Sharron Attwood, Modern Etiquette Sharyn McCasky, MDVS Business Services Sheryll Fisher, Outback Initiatives Songy Knox, Songy Knox Photographer Sue Papadoulis, Publicity for Profit Sumit Sindwani, Plunkett Homes Sylvia Marina, Sylvia Marina Tania Giorgetta, Seasons Online Tanya French, Wheatbelt Business Network Terence Borgioli, Borgioli Terrence Cheong, Integrative Business Solutions Terry Katz, Platinum Labs Thila Raja, Speak For Life Tom Smilovitis, Templar 12 Tracey Loubser, Confident Cashflows Tracey Regan, The Lemon Tree Book Company Tricia Ray, Colosoul Group Inc Viren Pabari, Futuristiq Entertainment
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JULY 2015 // expo edition
people form an impression P&L a of you within the first 3 Rear View seconds of meeting you. Mirror for your Business. // Rory Anderson CFO Advisory Would you fly your own light plane to Margaret River without knowing how much fuel is in the tank and without your compass and altimeter working? A simple question with an obvious answer, no. Yet it is surprising how many small business owners are doing just that when managing their business week to week and month to month. A simple but effective set of key financial reports is crucial to knowing just how the “business is flying” at any given point in time, where is it going and when will it get there.
Colour plays an important factor when creating an impression. Our brains literally pick up on contrast. By contrast I mean the difference between 2 colours. When you wear low contrast you appear to be elegant and sophisticated. But because the brain is not picking up on much contrast you might go unnoticed. Not the best contrast level to wear if you are going to a networking event or do a presentation. Medium contrast is wearing a light and a dark colour together. Think white and black or dark blue and light blue. This is the most people friendly and always appropriate level of contrast to wear. Great for interviews, networking events, presentations or even dating.
complexion wearing a high contrast outfit will take all the attention away from the face and will look overwhelming. If you naturally have high contrast, high contrast outfits will look great on you. And if you have medium contrast you are lucky as all types of combinations might work for you.
“ I am fascinated by the science of impression management and how presenting yourself in the best way possible will bring great success to your life”
High contrast is when we put together 2 colours that have great difference, imagine bright pink and yellow. Wearing high contrast outfits sends a message that you are creative and you will be noticed. Another important aspect to consider about the best contrast level for you is your natural contrast. What is the contrast between the colour of your eyes, hair and skin? Your clothes have the objective to complement you face and be harmonious with your natural complexion, not to take all the attention for themselves. If you have a natural low contrast
// Alba Gomez Personal Brand Specialist
Keeping it simple but effective, five basic reports are typically all that is needed in the financial cockpit of the small business owner. They are the Balance Sheet, Profit & Loss (P&L), Cash Flow Forecast, Accounts Receivable and Accounts Payable. Each of them are interrelated but present a different snapshot into the vital signs of the health of your business. The P&L in particular is a cornerstone of financial reporting as it presents a rearview mirror picture of just how profitable your business has been in the period being examined. Of course when we turn that the other way and forecast out forwards our expected and targeted profitability, this becomes our budget. Typically businesses will set their budget annually and then measure their ongoing P&L performance monthly against the budget. As the famous American Baseball Hall of Famer, Yogi Berra, is credited with saying, “If you don’t know where you are going, you might not get there”. A good P&L with the right format and line items will then enable the business owner to see where they are succeeding and where they are not. This then becomes the starting point that directs you to the right places that need addressing to make the business more profitable. That’s when the fun starts, as we then need to determine what action is needed and where to then make the numbers being displayed more attractive moving forward.
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cash flow issue: combination of ‘minor issues’ making money yet scraping through by the skin of your teeth? // Steve Gavorko Westpac Retail & Business Banking Through the relationships I build with Small & Medium Enterprise (SME) as Local Business Banker with Westpac, I have the pleasure of liaising with a broad spectrum of businesses on a daily basis. I get to understand their successes as well as the challenges that SME businesses face in an economic environment that is undergoing a period of significant structural change. The famous adage – ‘Cash is King’ – is as relevant today as it ever was. Cash flow issues can arise through a myriad of reasons. Often, it’s a combination of the “minor issues” that on aggregate can result in larger headaches.
Overall Review of Procedures There are strategies that can be implemented to bolster cash in-flows. For example: •A sking for 50% in payment advance or upfront – especially for large transactions or whereby the work will be delivered over an extended period of time. •P roactive invoice management – invoice at the earliest possible time. •S etting the expectation of terms of payment up front with the customer. •D iscounting invoices paid within terms can be advantageous if implemented correctly. Collection of Debts
“ A misconception is that a healthy ‘bottom-line’ may indicate that there is little need to examine cash flow.”
It’s important for SMEs to work with their customers in relation to terms of payment. In an ideal world - the shorter the terms the better. However in reality this may not always be feasible. If there’s a customer who is notoriously behind with payments – is there scope to clear their debts over instalments? Payment of Creditors
Moreover, I’ll be told “We are making money, yet at the end of the month we always seem to be scraping through by the skin of our teeth”. When approached with this dilemma – I’ll generally work closely with the customer to assess the following:
I will hear quite often that businesses will prefer to ‘pay the bills as soon as possible to get them out of the way’. Reasons include: knowing that there are no “surprises” at the end of month or even the belief that this will translate to good
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‘business karma’. Unless a discount is received for early payment there is often no benefit of putting the businesses cash into the creditors’ pocket sooner. Holding off until the last possible day and/or negotiating terms with your creditors to reconcile with debtor behaviour are some of the tools customers can implement. Short Term Finance An overdraft facility can be an important part of a business giving greater flexibility in business cash flow. It’s essentially a temporary loan which can facilitate payment of creditors during ‘peak periods’ and to pay for the essentials that arise regardless of cash in-flow. Furthermore, I am empowered with our new LOLA system that recognises and rewards the track record of existing SME customers with pre-approved business overdrafts & cash-flow lending. The above represents a good starting point for ongoing conversations. Other options to explore include debt consolidation & invoice financing which can be implemented as a medium to long term solution. Often there isn’t a quick fix and it is an ongoing process. One of the most rewarding things from my own perspective is implementing plans over a period of time and seeing our SME customers reap the rewards.
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JULY 2015 // expo edition
Entrepreneur Interview Feature
Ray Mancini. erth based entrepreneur and Director of SIG Group, Ray Mancini originally started in the executive protection sector and has worked with big stars in the entertainment industry such as Mariah Carey and Ice T. SIG Group is considered as one of best training organizations in the world and as a leader in providing the most current and up to date operational training methods law enforcement and high level security professionals. During the last 5 years we were able to successfully operate in more than 5 countries, which include, Ukraine, Italy, UAE, and the USA. This June Mr. Mancini announced the launch of Atlas Design which is a boutique digital branding agency to help small businesses and companies with creative transformation and strong branding of their identity to successfully reach and positively impact their audience and target market. We had the pleasure of sitting down with Ray to get an insight into business, knowledge and wisdom. ZP: Tell us briefly, what do you credit your success to? Since I was a kid I’ve always had a wild and vivid imagination, which allowed me to dream and be creative, I guess I took that from my father as he was a great successful artist. I’ve always been highly motivated and driven individual with a ridiculous and sickening dedication to whatever I put my mind to. I can truly say that having high work ethics, absolutely loving what I do, and always putting in 100% effort almost in everything is what I credit my success to. Z: Your training is highly regarded within the industry. Who is your typical customer? Anyone from the general public who wishes to enter the security industry or join a law enforcement department as well as law enforcement professionals who are looking at maintaining and improving their skills or investing in their professional development. ZP: What are you most passionate about? Helping people and giving back. My passion is charity and helping the local community, I have been involved with the
leukaemia foundation for over the past 12 years as well as being proactive towards raising funds for other charities such as Sane Australia which help and support those who are affected by mental illness. ZP: So your expertise and passion within design and branding can now benefit entrepreneurs starting up and businesses wanting to rebrand. How do you believe you are unique?
Well I’ve had an extremely fulfilling and successful career within couple of different industries across the world and I believe that all the experience and tricks of the trade that I have learnt along the way and through all the costly mistakes that I have made, I have priceless knowledge gained over 20 years of being in business at different and diverse capacities that can greatly benefit and help those young and new entrepreneurs with their journey and business adventures. ZP: Your 3 tips that can you share with the readers who are looking at rebranding? 1- Make sure you have a very strong and effective online presence, (these days if you’re not online you’re not in business.) It’s extremely important to have the right presence online that is informative and effective. 2- Don’t ever compromise on quality by cutting corners, 3- Don’t be afraid to be bold, different and aggressive with your marketing and make sure you engage the right branding agency that care about your business to help you succeed and stand out from the competition. One thing’s certain; you can’t expect to stand out from the crowd using the same marketing methodology and strategy everyone else is using. If you want to transform your business, you need to be creative and transform your marketing. ZP: What do you do in your spare time? That is if you have spare time (laugh). Well my work has been my hobby and I never feel like I’m working not even after smashing a 14 or 15 hour days but I do enjoy fitness and training whenever I can and usually I get to the gym or the beach for a training session between 2 to 3 times per week and I also enjoy competing in the IPSC shooting sport whenever I have the opportunity. Obviously family time is important to you
and you dedicate time for it. Have you always done so during the start up days? Unfortunately not, the truth must be told. (Greatness comes at an expense.) I’m very fortunate to have beautiful understanding and supporting family and I have struggled to find that good balance between work and family as I have been obsessed with my goals and career and that obsession has been one of the main key factors for my success so that has been one area that I have personally struggled with but I’m getting much better at it now and it is the main focus for me now and in the future. ZP: Thank you Ray, any parting words that you would like to share with the readers? Dream big, it’s for free. Wake up every morning remembering how lucky you are to be who you are and be grateful for everything you have in your life. Be passionate and put your soul and heart in everything you do and everything you touch, as this translates who you really are. Work hard and work hard and then work harder as nothing great is going to just arrive at your feet for doing nothing. Give back to the community and help as many people as you can along the way as this will give you great satisfaction and provide you with a meaningful purpose in your life.
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THE PROS & CONS OF BUYING A FRANCHISE BUSINESS. // Paul Adamson Finn Business Sales Being your own boss is the dream of many industrious and entrepreneurial people. When the time arrives for someone to buy a business, there are always many things to consider. There are personally determined factors such as industry, market segment, location and your budget, but there is also a very big decision as to whether you buy a franchise or an independent business. Investing in your own franchise can be the best decision you ever make. However, franchises aren’t for everyone, there are clear pros and cons to operating a franchise. When buying into a franchise, establishing yourself into the market is made that much easier by the franchisor having already done all the hard work in building up your brand recognition and developing the systems you’ll need. The franchisor will provide a ‘start-up’ package for you, complete with training, procedures, store design guidelines and suppliers. It should be noted that buying into a franchise system does not guarantee success and you still have to work extremely hard to make a success of it. As a result of the franchisor supplying essentially an off-the-shelf package for you, the start-up costs can be quite expensive. The ongoing requirement to pay franchise and other fees is something you’ll also need to be happy with. The corporate level support that you’ll enjoy in a franchise and the economies of scale are great.” However, if you want to steer your own ship, alter the product or service lines and make your own decisions, then you should steer away from franchises and investigate buying an independent business or start your own. If you’re looking to buy a business, you should consider the pros and cons of operating within a franchise model before making your final decision. In many respects, a franchise is an appealing option that provides a strong framework for success. However, for others who want to exercise their own business judgement, a franchise might not be the right opportunity.
from entrepreneur to edu-preneur. The world of business has changed and we find ourselves in a new era – an era where the traditional entrepreneur is extinct and a brand new breed of entrepreneur is flourishing: The Edu-preneur. The Edupreneur is here to shake up the future of marketing, lead generation, sales and customer relationships; for they have discovered a method of business growth that ditches sales and instead embraces education. Edu-preneurs work in any industry. They could be solopreneurs, infopreneurs, entrepreneurs, employed professionals, small/medium/large sized businesses (local or international) and of any niche expertise. They are people that either as part of their main business activity, or as a by-product of their usual business activities, inform and educate their markets. If you provide your market with (free or paid) informative/educational articles, webinars, workshops, eBooks, workbooks, tutorial videos, online or face to face training, seminars or any other medium of ‘education’ in your niche area – then YOU are an Edupreneur.
Before long, you position yourself as the go-to expert in your field, the guru (in the original sense of respected teacher) who teaches us how to do what you do best. This is when your small efforts to prime the pump generate a growing flow of customers coming to you. No more scrabbling for table scraps. Ever. Are your eyes realising this seismic shift in business, and on the flip side, the tremendous opportunity for meeting the growing hunger for valuable knowledge?
Are you beginning to see how being an edu-preneur is a far more valued and lucrative place to be than a business that just ‘tells and sells’? We need more edupreneurs. The demand is huge, and so are the rewards, financially and on so many other levels. And you can become an edupreneur - far easier than you think. Edu-preneurship is the new Entrepreneurship and the time is now. Are you ready to hop on board?
Educating your audience not only contributes to your business and to the body of knowledge within your industry, but it also gives you a sense of exclusivity in a blue ocean. You raise yourself above all the other people who are just talking about their topic, and leverage yourself as the only one who is teaching people how to do it.
“ This automatically increases your influence, leads, impact and ultimately your earnings.”
// Sarah Cordiner Author & Thought Leader
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JULY 2015 // expo edition
FREQUENT FLYER POINTS: KNOWING HOW TO GET THEM AND HOW TO USE THEM. Frequent Flyer Points are often hard earned and should be well spent. Here are some tips to avoid these common mistakes that can trip up even the most seasoned of frequent flyers:
first class is the best way to spend your points. In fact, with all the discussion on how much points are actually worth when converted to cash, many experts agree that putting them toward upgrades ensures you maximise their value.
1. Join The Right Program And Stick To It With all the providers out there vying for your loyalty, it’s no secret that a little research is required when deciding on which Frequent Flyer program is the best fit for your business.
Swap Your Points For Free Flights: If you don’t have enough points for an upgrade, free flights are the next best thing. This is especially helpful for business travellers who fly on a regular basis.
2. Maximise Earning Potential Deceivingly simple, maximising all opportunities to accumulate points is somewhat of a talent. Even if you’ve been collecting points through flights and hotels for years, many airline programs are now offering a global network across a number of industries, so you could be earning points by doing something as simple as shopping.
Hook Yourself Up With A Hotel: Many airlines, such as Qantas and Virgin, are partnering up with hotel chains across Australia to establish an extensive travel network created to inspire customer loyalty. As such, frequent flyers can utilise their points to book hotel rooms.
3. Don’t Devalue Your Points Once you’ve put in the work to accumulate as many points as possible, you want to make sure you spend them right. It may be tempting but don’t just jump online for a spending spree.
Convert Your Points Or Go Shopping: If you’re faced with spending or losing your points, or if you have a smaller balance that needs to be used up, converting or shopping is an efficient way to put them to good use. With many programs offering a huge selection of online shops to cash in your stash, you’ll have plenty of spending options.
Apply For An Upgrade: Purchasing an economy fare and upgrading to premium, business or even
4. Don’t Let Points Expire If you’ve mastered the art of accumulating points, one potential
mistake is letting them expire before you can spend them. Each program will have their own policy when it comes to validity periods. Make sure you thoroughly understand these periods before you sign up. If you have any questions regarding Frequent Flyer programs, or how you to make the most out of your points, or about other Flight Centre Business Travel services call Kelly Henderson on 0481 003 630.
// Kelly Henderson Flight Centre Business Travel
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have you Connected today to your animal yet? // Christina Burki Animal Connect If not, you are not the only one. We somehow forgot how to be connected with nature and her language. Your animal is waiting for you to connect. Animals are social and long for real and deep connection with you
Brain Differences Successful vs Emerging Leaders. // Karen Livey www.leadershipkeys.com.au Successful leaders have used neuroplasticity to their advantage. They have realised what they need to change to be successful. Emerging leaders have yet to embrace neuroplasticity, and the incredible possibilities for them to enable them to achieve their goals. To be a leader, you must have the threshold capabilities such as intelligence, determination, and vision. But to be a great leader, to stand out from the crowd, you must have a high degree of emotional intelligence. A leader’s mood can have a positive or negative impact on others and is crucial in the way their teams respond. Research has shown that there is a link between emotional intelligence and better business. To improve emotional intelligence you need to tap into the idea of neuroplasticity and realise that you do not always have to react or behave in a certain way in particular circumstances. If, as an emerging leader you recognise this as a potential development area, you can
make changes. You must remember that neuroplasticity is not a quick fix, but takes positive attitude and determination. The big payoff is you can use neuroplasticity to your advantage – change the pathways inside your brain to those that are far more appropriate in certain circumstances. The first step in any change is to become self-aware, without this you will never recognise when you should behave differently. There is a three-step process you should follow to change your brain: 1. Recognise the trigger that sparks a negative emotional reaction in you 2. Acknowledge the emotion, name it, focus on it 3. Find an alternative, more appropriate reaction in the circumstance If you do this each time you will have engaged in neuroplasticity, making the alternate pathway the primary one, creating better and improved emotional intelligence. As an emerging leader, you will achieve success and be recognised for your achievements and excellent business practices.
Connecting means to take time with your animal, to sit down and start to be in real contact with your animal. Real connection from eye to eye, like you would be with a common friend or family member. Yes you can! I am sure that every person has the ability deep inside her or himself to connect with animals and even to communicate in your own unique way. The positive news is that everybody can connect with another living being. More positive news is that you can relearn it as most would have forgotten this language of connecting, feeling and understanding each other. “ I have successfully connected to hundreds of animals internationally.” I have remastered this lost language of ours and want to share with you my knowledge. I am animal communicator and psychotherapist. I connect owners and animals. I can guide you to regain the lost connection and language. I would love to support you to understand your animal in a deeper and more profound way. I would love to speak to your animal as well. I can also provide psychotherapy and send healing energy given my background to both animal and human. If you would like to know more about the next steps and how to learn to connect with animals and other living beings then have a look at my website www.animalconnect.com.au and connect with me.
Nifnex Small Business Expo, Perth
10 July 2015 th 11am-5pm
B2B & B2C Over 100 Exhibitors
Ascot Raceway 71 Granstand Rd, Ascot Banking, Telecommunications, Webdesign, Apps, Travel, Accounting Firms, Legal, Sales, NLP, Education, Training, Finance, Virtual & Serviced Offices, Print & Design, Networking, Franchising, Public Speaking, Debt Collection, Corporate Branding, Corporate Feng Shui... And many more industry sectors
nifnexreview.com.au
Register Online
www.nifnexexpoperth.eventbrite.com.au
join one of the
FASTEST GROWING BUSINESS COMMUNITIES in Perth Monthly 3 hrs session in a very friendly & vibrant environment with like minded business people, CEOs, Graduates & entrepreneurs for a panel discussion, mentoring, breakout sessions and business networking.
“Learnin g Sharing & y knowle our dg Networ e And kin rated tw g are o keys to your BUSINES S SUCCESS ”
Contact us for a special entry price to check out our next event. Email academy@nifnex.com.au or Call 1300 643 639 or 0412 643 639