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Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 1
Calls to Protect Small Business
AUSTRALIA'S $202 billion
franchising sector should be
backed by penalties and better
disclosure of joint marketing
funds, a new report says.
The Federal Government-backed
review of the Franchising Code has
also called for the introduction of a
duty of good faith - a new element
designed to counter allegations of
franchisors refusing to offer
extensions to contract terms after
franchisees have built up a new
business.
Parliamentary Secretary for Small
Business Bernie Ripoll has not
committed to the report's 18
recommendations but said he will
consult to ensure the sector "can
continue to grow and develop as an
essential part of our economy".
The sector has long been wracked
by tension between franchisors and
their contractors, the franchisees,
with legal cases highlighting the
disparity in power and potential for
abuse.
The Australian Competition and
Consumer Commission recently
abandoned its regulatory neutrality
and called for penalties to enforce
breaches of the Franchising Code -
now backed by a recommendation
of $50,000 penalties for breaches
and broadening the ACCC's powers
to demand documents.
Let’s Talk Business MARKETING MEANS BUSINESS - Solutions for Small Business
Issue 05 June 2013
The review, undertaken by Alan
Wein, has also squarely addressed
concerns about the administration of
joint marketing funds.
Mr Wein has recommended the funds
be kept under trust - thus ensuring the
franchisor has a duty to account for
the funds to franchisees - and that
company-owned units contribute the
same amount as franchised units.
The fund would also be audited
annually, if the recommendations are
adopted.
The report has dismissed calls for
recognition of franchisee goodwill at
the end of the contract and limited the
scope of "good faith" to be introduced
under the Code.
The Franchise Council of Australia
welcomed the report and again called
for a consistent approach a direct
challenge to South Australia, which is
preparing its own Franchising Code
that is likely to be inconsistent with
the provisions of the Federal Code.
Conversely, the Franchise Council of
Australia welcome the outcomes and
recommendations of the recent
review of the Franchising Code of
Conduct, conducted by franchising
expert Alan Wein.
“This is the most comprehensive
Federal Government backs review of the Franchising
Code:
The Franchise Council of
Australia welcomes Review:
AUSTRALIA'S $202 billion
franchising sector should be
backed by penalties and better
disclosure of joint marketing
funds, a new report says.
Russell Emmerson
From: News Limited Network
review undertaken of the Code since
its introduction in 1998.
Pleasingly, but not surprisingly, the
Wein Report has found that the
Australian franchise sector operates
well, and the Franchising Code of
Conduct is ‘a robust model’ and
‘generally operates effectively within
a very dynamic and difficult
economic environment’,” notes FCA
Chairman Michael Paul.
“This is the most comprehensive
review undertaken of the Code since
its introduction in 1998. Pleasingly,
but not surprisingly, the Wein Report
has found that the Australian
franchise sector operates well, and the
Franchising Code of Conduct is ‘a
robust model’ and ‘generally operates
effectively within a very dynamic and
difficult economic environment’,”
notes FCA Chairman Michael Paul.
“We look forward to working with the
Government to ensure the
recommendations are implemented.”
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 2
DO YOU CONDUCT REGULAR
COMPETITOR RESEARCH ? (SPYING)
Dennis Chiron Marketing Means Business
0451 184 599 [email protected]
Skype: dennis.chiron2
An essential tool in any business's
toolbox is a clear idea and
understanding of reality.
Reality? What's that?
Reality is the difference between
the way you are conducting
business compared with the way
your competitors are conducting
their business.
The ultimate goal is to do
absolutely everything better than
your competitors. But how do you
accomplish that? The answer is: by
spying.
Successful business owners ensure
that they thoroughly research their
competitors, their industry, and
especially, themselves.
Just realize that business
information is more available now
than ever and that your
competitors are “on the ball”.
They're getting smarter every day,
and the only way you're going to
know how you measure up to them
is by actively engaging in regular
spying.
Competitor ‘Fact-Finding’ is a
painful job, especially when you
learn that you are falling behind,
but the opportunities to make your
business the best make up for the
pain.
Here are five suggestions to help
you get the best out of your
Competitor Research:
1. Order something. Buy
something from some of your
competitors. Do it by phone or
mail or in person. Keep a
watchful eye out for the
smooth or rough edges in the entire
process. There will be more
differences than you think. And
you must ensure that you must
outshine your competition in all
areas. Note especially when they do
their follow-up. Make sure that you
can do it faster.
2. Visit your competitors. You
personally, or one of your most
trusted people should pay a visit to
the premises of your competitors.
Note the little details that win or
lose potential customers.
3. Phone your competitors. Focus on
the personality and attitude of the
person who answers the phone. If
it's warmer and more friendly than
the person who answers the phone
in your business, then train your
person to excel in this role.
4. Make a request for something.
Maybe it will be a price list or a
brochure. See how your request is
fulfilled, concentrating on speed
and follow-up. Do you handle
requests as professionally as your
competition?
5. Compare and assess. Look at your
own business through the eyes of
your customer and compare your
and your competitors' service,
pricing, packaging, people, product
selection, follow-up, signs, quality,
delivery and attitude. Only
thorough research will give
you honest feedback on how you're
doing.
6. Buy something. It always helps
you to own the product or use the
service of your competitors,
because it enables you to spot your
own weaknesses as well as your
own strengths.
Be prepared to have to face up to
some home truths about your
business.
Of course, there's a chance that
you're doing everything better than
your competitors, but if you
research (spy) properly and learn
from your espionage, there's a great
chance.
Once you've completed your
research, react to what you've
learned and be committed to
improving.
Of course, a nicer term for this
activity are words like Competitor
Analysis; but no matter how it is
phrased or worded, it boils down to
be totally aware of everything your
competitors are doing.
Remember, many of the best
companies in the world remain at
the top of their game by keeping a
very close eye on their competitors.
Strategic competitor analysis is an
excellent way to obtain information
about important competitors and use
that information to predict
competitor behaviours whilst
making better business decisions.
In my own capacity, both as a business owner and a consultant, I am often surprised that small to medium business owners neglect to analyse their competition. It is so important to know who and what you’re competing with. Can you imagine that Microsoft doesn't know what Apple is doing in terms of its product development and market share, or vice versa?
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 3
PROTECT YOUR IDEAS
Dennis Chiron Marketing Means Business
0451 184 599 [email protected]
Skype: dennis.chiron2
idea.
Altair and MIPS were already
producing. Every hobbyist club in
the country talked about it in their
meetings. Apple Computers,
however, did it. They found the
resources, contracted people, took
the risks, and started up.
There are plenty of good examples.
Was Federal Express patentable?
No, but they did it. Look at
Amazon.com—it was a good idea,
but very easy to copy or imitate.
In that case they knew they had to
move fast and gain visibility very
quickly to pre-empt competition.
What about McDonald's?
There are companies whose main
advantage is the idea. Kodak,
Polaroid, and Xerox are examples,
but these are exceptions, not the rule.
By the time you've had a good idea,
so have hundreds or thousands of
others. So how do you approach a
large company with a good idea? I
suggest that you don't; at least not
until you have momentum.
Sure, some ideas need larger
companies to move them forward,
but if your idea is that good and not
legally protectable, why shouldn't
the big company move in on it?
Managers are charged with
enhancing the value of the company
they work for, and you're saying
there's no patent, so why not? They
aren't bad people, it's just that you
don't own the idea.
Besides, larger companies move
very slowly, and unless you've
proven the idea and developed the
concept, it's even harder to think
they'll do it better.
My advice is to build some
advantage first, develop this idea,
bear down, and make it work. After
that, then you will have something
to sell.
Even without patents, you could
have trademarks, service marks, and
legal protection against people
trying to trade on your company's
name and trademarks.
Think of it from the buyer's point of
view, for awhile. Which would you
rather buy, an idea, or a business?
Turn your idea into a business that
works, with sales and employees
and a market position, and then you
have something to sell.
Companies really don't pay for an
idea, patent or trademark. What they
pay for is the work you've done to
get an idea to market-ready status.
Remember that there are almost
always people proposing ideas to
large companies, and you'll have to
make sure the contact in the
company understands that you
might have something that's very
worthwhile.
It's hard for me to think you can do
that without building it first, then
selling it.
Think about what it is you own that
they would need your participation
for—perhaps it's your expertise or
name in an industry.
There are only three ways to
protect intellectual property patents, trademarks and copyrights.
A patent applies to a specific product design; a trademark to a name, phrase or symbol; and a copyright to a written document.
All three methods have limitations; there's no one perfect way to protect an idea.
Successfully licensing an
invention or taking a product to
market requires research and the
ability to talk to people about
your invention.
For good reason, many inventors
are reluctant to share their
invention with people they don't
know.
However, it is impossible for a
manufacturer or retail buyer to
commit to a product without
seeing it.
People often ask if they can sell an idea of a new product or service to a company that will implement it. But ideas that can't be protected are worth relatively little. I don't mean necessarily legally protected, but at the very least, protected with marketing momentum, image, and awareness.
Relatively few of the well-known
successful start-ups depended on
the ideas. What matters is doing
it, starting it up, getting it done.
For example, when Apple
Computer started in 1976,
thousands of people had the same
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 4
“Prancerine”
Creator: “Let Them
Laugh”
It could be the new Gangnam Style,
except this dance craze is no joke. Joanna Rohrback has unleashed "Prancercise" on the world, a unique exercise program that mimics the various gaits of a horse. Jane Wells, CNBC News 30th May 2013
Holy Cow Sells for
$170,000
Think beef is
expensive now? A
cow just sold for a
record $170,000 at auction in Syracuse,
New York. "That's more than the median
home price in Central New York last
month: $112,500," wrote Marnie
Eisenstadt in the Syracuse Post-
Standard.
Well, you can't milk a house.
The Worst
Movie of 2012
"John Carter,"
was voted the
worst movie of
2012, and it was
a movie so bad
that Disney wrote it off as a $200
million loss? Well, at least the film
brought in an estimated $72 million in
ticket sales domestically, plus another
$210 million worldwide.
Women Drink More After Marriage According to Psychology Today, women start drinking more after
they get married, while men start drinking less.
2012's Most
Overused
Buzzwords
Calling yourself
"creative" is getting
less and less creative. LinkedIn has
released its list of the most overused
buzzwords on LinkedIn Profiles, and for
the second year in a row, "creative" tops
the list.
Forget Bacon, What
Else Do We Need to
Stockpile?
The droughts that
ravaged crops across
North American and
Russia have had a huge impact on the
food supply, livestock and farmers but
now it may be time to hit the “panic”
button – one pig group is predicting a
BACON SHORTAGE. “A world
shortage of pork and bacon next year is
now unavoidable,” the National Pork
Association in the UK said this week.
But now, it looks like the next acute
shortage will be Beer. According to the
Daily Beast, "Water shortages might be
the end of two of the world's most
beloved alcoholic beverages. Germany's
premier beer-making region is having a
hard time growing hops and barley
without some aquatic help."
$315 Nikes?
Now that's a
Shoe
Shoes are the
new cars. Men
now aspire to
do what
women have aspired to for a long time
—spend a month’s grocery bill to cover
up their feet.
The latest proof is the Lebron X shoes,
which carry a price tag of $315.
The Ragu
Commercial
That Has
Everyone
Cringing
Worst business marketing move of
the week!
Ragu is trying to sell spaghetti sauce.
Rather than selling it on taste, or
convenience, or fresh ingredients —
maybe these are not its strengths? —
the company has landed on the idea
of spaghetti sauce as comfort food.
Grass-lined Flip
-Flops - Would
You Buy Them?
The $30 flip-
flops, made by
Australia based KUSA("kusa" is
"grass" in Japanese), are not lined
with real grass, but with "life-like
artificial grass to give you the
feeling of walking out in an open
field--minus stepping on bees."
Wonder how they smell?
Asphalt From
Pig Manure?
Desperate times
call for crazy
measures. As
high feed costs put livestock
producers in a bind —especially
dairy farmers. Sure enough, a
company called NuVention
Solutions in Valley View, Ohio, is
developing an asphalt binding
additive made from...manure.
"Do you know we have 900 million
tons of animal waste a year?" asked
NuVention's President, Jim Sattler.
A pilot project in Missouri "shows
no signs of deterioration" and
"appears to be performing well after
having been in place for a year."
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 5
Business expert and entrepreneur
Chrissy Crust recently launched her
business, Chrissy Crust Consulting, to
help small, micro and solo businesses
succeed in an increasingly competitive
market.
Crust has worked closely with
businesses for over 30 years, and over
that time, she developed a keen interest
and passion for smaller sized businesses.
After noticing how little guidance was
being offered to micro and solo
businesses, Crust decided to design
specialised services for the smaller end
of the market.
“I’ve worked with a number of
businesses over the years. I wanted to
bring my experience in food, hospitality
and retail, to the smaller end of the
market because I feel that’s very
neglected,” said Crust.
Services offered by Chrissy Crust
Consulting are tailored to help
businesses with hard tasks such as
business planning and managing cash
flow.
“Some of the business coaching
packages I offer are to help people write
business plans.
A lot of business owners, often to their
detriment, either don’t have the time to
write a business plan, or are too scared
to write one. But the basis for any good
business is a framework,” said Crust.
She explained that business owners often
fall short of reaching their goals because
they’re not implementing cost-effective
marketing strategies and are struggling
to manage their finances.
“A lot of people don’t like numbers, but
they’re critical to success and they tell
the true story of your business” said
Crust.
“Often you’re working in your business,
and not enough time working on your
business. This is where I can help.”
As a start-up business owner herself,
Crust is all too aware of the stresses
involved in the initial stages of building
a business, and can connect with
business owners on a more personal
level.
“There are a lot of things you need to
juggle as a small business owner until
you’re able to outsource or delegate and
take on staff.
I’m going through the same stages as
other start-ups. So with my clients, I’m
not only coaching them, but I’m also on
a journey with them,” said Crust.
Crust’s advice to other business owners
is “Believe in yourself, as cliched as that
sounds.”
She explained, “I have a wonderful
support network of more established
and senior businesswomen and I’ve said
to them at times, ‘how am I going to
face all the things I have to do today?”
“They say, ‘we still feel that way
sometimes’. So to me, it’s something
that we need to keep reminding
ourselves all the time – that we are quite
capable doing it. We just need to stay
focused on the end goal and continue
heading in that direction. If you’re off
path, redirect yourself and keep walking
forward.”
Chrissy Crust Consulting is currently
hosting workshops every month.
The next one, ‘Pricing for a Profit’ is
held the last Wednesday in the
month, and “Wholesaling for Small
Business” is on the third
Wednesday of every month.
For more information on services
offered, or upcoming workshops,
email Chrissy Crust at
chrissycrust@chrissycrustconsulti
ng.com.au.
Chrissy Crust's Summary
Business consultant, coach and
trainer specialising in micro to small
business and social enterprise start
ups and early stage enterprises;
extensive experience in a broad
range of industries.
Working with owners to see their
business with fresh eyes, to make
plans that make a difference and to
support them along the pathway to
satisfaction and success.
Specialties: Business analysis,
writing business plans; developing
growth strategies; creating
procedures and operating systems;
time management coaching.
Specialist services for small and
micro business ranging from
Business Review and Planning, one
on one Business Coaching Packages,
specific Coaching for areas needing
attention, Business Building
Workshops and follow on support.
We work with solo entrepreneurs,
home based businesses, market staff
holders, retailers, social
enterpreneurs, start ups and early
stage enterprises.
Business Expert, Chrissy Crust,
Launches New Consulting Services
Web: http://chrissycrustconsulting.com.au/
Email: [email protected].
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 6
The Tortoise and the Hare Revisited We’re all familiar with the story of the
tortoise and the hare, and how they
became embroiled in an argument
about who was faster.
To settle the argument they decided to
conduct a race and settled on an
appropriate route. They set off and
soon the hare found himself miles
ahead, so decided to sit under a tree and
have a rest. He soon fell asleep and the
tortoise plodded on steadily, won the
race and was the undisputed champ.
The moral of the story being slow and
steady wins the race.
That’s the version of the story we all
know. However I recently heard an
interesting new version that has lessons
we can all apply to our businesses.
You see, the hare did some Root Cause
Analysis about his loss and realized it
was because he was too complacent. He
decided that if he applied himself to the
task there was no way the tortoise could
beat him. So he went back and
challenged him to another race.
This time the hare went flat out from
start to finish and ran without stopping.
He finished the race and beat the
tortoise by several miles. The moral
this time is that fast and consistent will
always beat slow and steady.
If you have two businesses, one slow,
methodical and reliable, and the other
fast and still reliable, the fast and
reliable one will consistently achieve
more than the slow and steady one. It’s
good to be slow and steady, but it’s
better to be fast and reliable.
The story doesn’t end there. The
tortoise did some thinking and realized
that there was no way he could beat
the hare in the race in its current
format. He thought for a while and
challenged the hare to a race over a
different route.
The hare agreed and they headed off.
In keeping to his commitment to be
consistently fast, the hare took off and
ran at top speed until he came to a
broad river. The finishing line was a
couple of kilometers on the other side.
The hare wondered what to do. In the
meantime the tortoise trundled along,
got into the river and swam across
then continued walking and finished
the race.
The moral here is to identify your key
strengths and competencies, and
adapt the game to suit these strengths.
The story hasn’t finished yet. By now
the tortoise and hare had become good
friends and spent some time thinking.
They realized that the last race could
still have been run better.
They decided to run the same race
again, but this time as a team. They
started off, and the hare carried the
tortoise till the riverbank. There, the
tortoise took over and swam across
with the hare on his back. On the
opposite bank, the hare carried the
tortoise and they reached the finishing
line together. They both felt a greater
sense of satisfaction than they'd felt
earlier.
What’s the moral of this story? It's
good to be individually brilliant and
to have strong core competencies; but
unless you're able to work in a team
and harness each other's core
competencies, you'll always
perform below par.
Teamwork is mainly about
situational leadership and letting
the person with the relevant core
competency for a situation take
leadership.
There are more lessons to be learnt
from this story. Note that neither
the hare nor the tortoise gave up
after failures. The hare decided to
work harder and put in more effort
after his failure. The tortoise
changed his strategy because he
was already working as hard as he
could. In life, when faced with
failure, sometimes it is appropriate
to work harder and put in more
effort. Sometimes it is appropriate
to change strategy and try
something different. And
sometimes it is appropriate to do
both.
The hare and the tortoise also
learnt another vital lesson. When
we stop competing against a rival
and instead start competing against
the situation, we perform far better.
To sum up, the story of the hare
and tortoise teaches us many
things.
Important lessons are:
that fast and consistent will
always beat slow and steady;
work to your competencies;
pooling resources and working
as a team will always beat
individual performers;
never give up when faced with
failure; and
finally, compete against the
situation. Not against a rival.
In Short, BE STRATEGIC!
Geoff Butler FAIM AP, MAITD MACE
Principal/Business Improvement &
Implementation Specialist
Business Optimizers
Mobile: 0414 943072
Fax: 3036 6131
Email: [email protected]
Skype: business.optimizers1
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 7
If it’s worth doing, it’s worth doing
badly. No, it’s not a misprint! …. AND
it can make you good money
This tool goes hand in hand with
“perfection is the enemy of profit”
It’s not about doing a shoddy job or
giving poor value to your customers.
It’s not about ‘everything’ being done
badly, some things need to be done
perfectly by definition.
For example, I want my brain surgeon
to do the job perfectly.
What it is, is a great way to get a new
perspective on your profitability and
marketing efforts.
It’s not new either. So if you have not
heard this twist on the “if it’s worth
doing it’s worth doing well” you might
be surprised that we have been
discussing it since at least 1910.
The idea was said to be first expounded
by Gilbert Chesterton and is reportedly
widely used out of context.
Chesterton believed that amateurs and
generalists could be defended against
professionals and specialists, however
this may well be out of its original
context too.
No matter the origins of the idea, as
business people we often need to look
at issues concerning our dealings often
from several perspectives and this
provoking notion is always a good
starting point.
Any manufacturer will tell you that the
products they produce could easily be
improved.
This is true for everything from soft
drinks to super computers. Let’s
consider your favourite software. Have
you ever installed a Microsoft product
first version that was bug free?
The programmers are smart enough to
fix them, that’s not the issue. How
many times a month do various
software products ‘update themselves
automatically?
So why publish something that is part
of your reputation, part of your brand,
that is essentially defective? The
answer is of course, millions of dollars.
Wait costs money. As long as the
product still presents a value
proposition, it’s always worth trumping
your competition, or taking what you
would have earned earlier rather than
later.
Does anyone remember their first XT
computer with 8 kilobytes of ram and a
20 megabyte hard drive?
The 40 megabyte hard drive was
available at the time and it was easy to
double your RAM.
IBM just thought getting a cheaper
product to the market faster would be
better for their customers and better for
their bottom line.
Getting to the market early with a
substandard but cheaper product
can build product awareness and
actually create a need Especially
when the product is new territory..
Who really believes that the
iPhone 2.0 was not already a done
deal even before the iPhone 1.0
was released?
What have you got on the drawing
board?
What secret profit have you got
waiting for production that you are
hanging off because it’s just not
perfect yet?
Everyone has a few pet projects
that to them, look like a badly done
job, but to a customer, if that
represents a value proposition, you
are missing out and so is your
customer.
You owe it to your customer to
think about “If it’s worth doing,
it’s worth doing badly” however
you owe it to yourself not to use it
as an excuse retrospectively.
Ask yourself some questions. Is it
good enough as it is? Would I buy
it as it is? Will my customers still
get good value? If you can answer
positively then go for it.
Send Hate Mail to:
m.au
M: 0405 318 449
Peter Athey
Specialized Management Services
0405 318 449
www.specializedmanagement.com.au
If It’s Worth Doing, It’s Worth Doing Badly!
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 8
It may sound hard to believe, but
it’s really quite simple. You see,
most businesses on the market
today are owned by people who
are not trained to run, build and
sell businesses.
Most people in business think short
term … don’t spend money, make
sure there’s enough in the account
to pay the bills and where can I get
more customers?
This is what amateur business
owners constantly think and stress
about.
Professional, trained and
experienced business owners
understand that the value of your
business has very little to do with
what it’s assets are valued at, how
long it’s been around for or even
what it’s sales figures are!
Here is the difference between a
typical business, of which most die
and a professional business that is
easy to sell …
“The value of a business is
determined by proof of a quality
relationship it has with its
Prospects and Customers”
THIS is the true ‘’Good Will” of
the business.
Good Will is simply the likelihood
of future sales at a particular value.
How many good businesses have
you personally seen get taken over
by people who don’t maintain
good relations with their customers
and in a very short time go broke?
There are three steps to follow to build
and sell a business for its maximum
value. Here’s a real life example from
my personal experience. A coffee shop
in a suburban shopping centre.
Step 1. Measure & Document your
numbers constantly and in a way that
they can easily be seen on 1 sheet of
paper. A simple spreadsheet that
shows the important numbers of your
business in easy to see timeframes.
Not only how much you sell, but also
WHO you sell to.
For example; New Customers; VIP
customers; random customers; average
dollar sales of each group; the
products or services they buy most;
when they’re next due to buy.
Step 2. SYSTEMS run the business
– People run the systems. If the
business owner is required to run the
business, it is NOT a business, it’s a
JOB! People will pay much more for a
business than a job.
Most people find this part the most
challenging. Get help from someone
experienced in this area who not only
know what systems you need, but also
has the systems ready to be installed
and customised for your business.
Step 3. Understand what the buyer
really wants. My accountant looked at
the numbers and compared to other
businesses he had seen on the market
considered $100,000 to be ‘market
value’. The buyer of my business and
her husband were taking home about
$1,500 per week working for other
people.
They borrowed $315,000 to buy my
business that would make them a
profit of $2,500 per week. The loan
repayments to get the business was
$700 per week. So $2,500 - $700 for
the loan = $1,800.
They got their dream of being their
own boss, were getting a higher
income from what they were doing
and enjoyed working together. The
price was irrelevant. The outcome
was their passion!
If you would like to experience a complimentary review of your business that takes less than an hour, call Dan at Profit Mechanics on 0414 567 188. An easy to understand business performance questionnaire will be rushed to you so you can see where profit may be leaking from your business and how to fix it.
Dan Buzer
Profit Mechanics
0414 567 188
www.profitmechanics.net/ [email protected]
How I Sold My Business for 300% More
Than My Accountant Said It Would Sell For “ … and in record time, with NO advertising and NO vendor finance …”
Dan Buzer – Profit Mechanics
Co founder of Profit Mechanics
One company Dan worked with grew
from 6 outlets and $4.2 million
dollars turnover to 36 outlets and
$25,000,000 turnover in 7 years.
Has owned several businesses,
including an Australian based
franchise operating in 16 countries.
Out of 44 stores one of Dan’s was
number 1 in the country from its first
month! It consistently sold 1,000%
more of its lead product than the
franchise group average.
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 9
Remember this old saying?
I hope no one believes this old saying.
Children were told to say this to
themselves when they were being
teased or bullied at school. Words can
be used to demoralise or praise, and
can contain loving or hateful
messages.
When a customer comes into your
business and you welcome them into
your store/office have you really
thought about the words you use to
greet them? I have been greeted with
“are you right?” Or upon the instance
of stepping over the threshold “can I
help you?” On these occasions I have
felt like saying “no I am half left” and
“can I at least get in the store first”. I
imagine these people thought they
were trying to be helpful. At least
they acknowledged me being in the
store.
Most people upon entering an office or
store would like to be greeted with a
smile and a “hello or good afternoon/
morning”. Then when they are moving
towards the counter or to look at the
products depending upon the type of
business you might want to ask “is
there anything in particular I can show
you or help you with? “
I had a very good experience when I
stepped into an Accountant’s office
one rainy day and the receptionist
came out from behind her desk to help
me with my paperwork as I tried to
close my umbrella. As she was
helping me she commented that “the
weather isn’t very nice today”.
This receptionist got it so right; not
only did I get a nice smile and
greeting from her, but I also got some
much needed assistance. I was very
impressed and automatically thought
that I had made the right choice by
coming to this Accountant.
Do you train your staff on how you
would like your customers to be
greeted?
The first few minutes are crucial as
this will make the customer feel
comfortable.
If the customer is “just browsing”
don’t assume they are just ‘tyre
kicking’ maybe they are looking for a
gift for an upcoming event or
thinking through their budget and
wondering what they can afford.
Either way, you would certainly want
them to come back and buy that
product.
I had a very good teacher when I was
in retail sales, they taught me that
when a person enters the business
premises that you smile and be
genuinely friendly as your service can
make or break the business.
Does your company use secret
shoppers? Secret shoppers are a great
to obtain feedback. If you don’t
have access to secret shoppers you
could ask another business colleague
to come to your business and act as a
secret shopper. If you are a member
of a business network group then
you could always ask someone from
there if they would like to come
along and be a secret shopper.
Do you have a Customer Care card?
It is a card that you ask your
customers to fill in (if they wish) to
give you feedback. You can ask
specific questions or just one - Did
we care for you today? Or Did you
receive good service today?
If you are the product in your
business such as a Hypnotherapist or
Life Coach or Mediator then you
need to practice a lot more than
smiling. Be mindful on the things
you talk about during your sessions.
If your client brings up politics for
example have a response ready so
that you don’t get into that
conversation. As you never know
how your response could affect their
perception of you.
I had an experience with a person
who I felt stepped over the boundary
in their conversation with me. They
spoke about politics and they also
made sure that I knew their
viewpoint about certain programs for
businesses.
Think about restaurants and retail
shops you have visited, what is it
about the place that would make you
come back? Was it the service?
Was it their range of products? Did
the practitioner remain professional?
What type of words would you want
your customer to use when
describing their visit to your place of
business?
©Janelle Macpherson 2013.
“Sticks and stones may break my bones, but
words can never hurt me”
Janelle Macpherson BBusInfMgt, DipMgt, Certified NLP
Practitioner , Cert MHSS.
Business Owner/Life Coach/Consultant
emPOWERful Solutions
Sub Company – Express Life Coaching Brisbane North
ABN 76 594 335 474
Blue Card: 1161688/1
0409728579
http://empowerfulsolutions.com.au/
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 10
Do you remember what it felt like when
you first started a new job and how you
felt?
Did you look for guidance, leadership
just to get through the first couple of
days? We all have a duty of care, so
what is meant by that?
The terms "general duty of care", relate
to broad responsibilities, expressed in
general terms, of a wide range of
persons who are connected with the
work or within the working
environment.
These may include employers,
employees, self-employed persons and
others, such as people who control
workplaces, design and construct
buildings or manufacture and supply
plant. The concept reflects the fact that a
"duty of care" is owed in law by one
person to another. Examples include:
An employer must, as far as practicable,
provide a work environment in which
employees are not exposed to hazards;
Employees must take reasonable care
for their own health and safety, and that
of others, at work; and
Self-employed persons must, as far as
practicable, ensure the work does not
adversely affect the health and safety of
others.
Provide safe systems of work
Employers are required to provide and
maintain workplaces, plant and systems
of work so that, so far as is practicable,
employees are not exposed to hazards.
The emphasis here is on the
coordination of all work activity, so
that one part does not endanger a
person who is working in or on another
part. This system of work should take
into account the layout of the
workplace, the storage and handling of
all materials and the location and
movement of all people on site.
The following matters need to be
considered:
Planning, of the work.
Equipment and appliances,
whether they are appropriate for the
job and whether employees know
how to use them.
People, carrying out the task need
to have appropriate information,
instruction, training and
supervision.
Plans and procedures, for dealing
with problems or mishaps,
including the need for warning
devices, emergency stop buttons,
evacuation plans and so on.
A safe system of work implies that
all aspects of the work have been
considered as an integrated whole.
While the work may be broken into
tasks for the purpose of hazard
identification, it is necessary to
consider the effects of all
components on each other.
The provision of information,
instruction, training and supervision
and the provision of personal protective
clothing and equipment, as specified
under the general duties for employers,
are an integral part of a safe system of
work.
A safe system of work, takes into
account unintended consequences or
mistakes ("mishaps"). Employers need
to consider the possibility of these
occurring and take steps to avoid
them. When the likelihood of
mishaps can be predicted they are
"foreseeable" and employers have
a duty to prevent them.
When considering the potential for
mishaps, employers should take
into account the risks of danger
through inattentive work or work
carried out without suitable
instruction and training.
Inadvertent acts by employees
could result in injury to themselves
and others; and in situations where
an employer can foresee that
misjudgement or inattention is
likely, the system of work should
minimise these risks.
Similar workplace Experiences can
alert employers to the problems
that may occur in their own
workplaces.
We can use a three step process to
make sure we have a safe and
healthy work environment.
Identify any Hazards
associated with the work
Assess the risks of injury or
harm to health with each
hazard
Consider the means and apply
the control measures, e.g.
eliminate, reduce or control
etc.
All Employers have the major
responsibility under the general
duty. In most cases, employers
must provide a safe system of
work with adequate information,
instruction, training and
supervision before employees
can take reasonable care for
their own health and safety at
work.
You can get information about
your OH&S obligations and other
valuable OH&S resources both in
hard copy and online from their
websites.
http://www.deir.qld.gov.au
Always seek independent legal
advice on what is applicable to
your situation.
Ron Court
Ron Court AMC Dip (Funerals) MQJA JP (Qual)
OH&S Advisor
0419679619
“General Duty
of Care”
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 11
There are substantial legislative
changes to the financial services
industry. These are as a result of the
federal government review following
the shocking behaviour of the Storm
Financial Group, Opes Prime, Banksia
and Basis Capital and others which
affected clients so badly after the
Global Financial Downturn.
Firstly, the terms “Financial Planner
and Financial Adviser” are to be
enshrined in legislation. It will be an
offence from July 1 to call or refer to
yourself as such unless you are fully
qualified and licensed / operating under
an Australian Financial Services
licence (AFSL).
Protecting the Public
Accordingly, advisers must attain and
adhere to these standards or be unable
to operate. Advisers must have
educational standards plus ongoing
educational requirements, carry
professional indemnity cover,
understand our clients and have a
working knowledge of products we
recommend.
This provides massive protection
because it rids the industry of various
crooks and charlatans who hold
themselves out as being “Financial
Advisers” when they might really be
just property spruikers, shonky
operators or banned ex-advisers.
Therefore, if someone can substantiate
that they are a fully authorised adviser,
the legislation seeks to ensure they
maintain a proper standard thereby
protecting the public.
Best Interests of Clients
Another change in favour of client
protection is the duty to operate in
the best interests of the client. The
fancy term is ‘Fiduciary Duty’ but it
means that advisers must put the best
interests of clients ahead of their
own. This gives confidence to clients
that their advice does indeed have
their best interests at heart.
All good advisers have been doing
this anyway but the fact it is now
enshrined in legislation will bring
added confidence.
Accountants Banned
From 1 July 2016 Accountants will
be banned from giving advice about
whether to set up a Self Managed
Superannuation Fund (SMSF) and
financial advice for the SMSF unless
they are qualified and operate under
an AFSL. Accountants are not
presently qualified or licensed to
give financial advice however many
of them do. Presently, accountants
can legally advise on the set up of an
SMSF. They can legally give broad
financial advice but it must be non
product specific. It means that they
can recommend investments in
shares, commercial or residential
property, Managed Investment
Schemes, art, collectables etc but
they cannot advise which ones to
buy.
Similarly, Financial Advisers are not
able to give specific tax advice
without being qualified to do so.
New legislation which allows
advisers to give tax advice is
Paul GILLMORE DFS
Founder and Director
Southern Cross Financial Services
07 5429 5561
0402 685 032
currently being considered by the
federal parliament however
advisers are unlikely to be able to
give tax advice without becoming a
registered tax agent or attaining a
minimum qualification.
Financial Advisers are required to
have a broad understanding of
taxation and are qualified to
discuss in general, non specific
terms.
Mortgage Brokers
Mortgage Brokers cannot give
financial or tax advice.
Lending in SMSF’s is highly
regulated and restricted. Lenders
(banks) require a suitably qualified
financial adviser to be engaged to
advise on the procedure.
Mortgage Brokers and Property
Marketers cannot advise on
SMSF’s. Brokers can facilitate the
loan but they cannot advise on the
setup or operation of the way the
SMSF borrows or manages the
cash flow including repayments of
a loan.
Protection at a Cost
Client protection is paramount but
it can be a double edged sword.
More red tape and compliance adds
to the cost of doing business.
My personal fear is that people on
lower incomes who could benefit
ENORMOUSLY from financial
advice are being priced out of the
market. More ‘Red Tape Costs’
will make it uneconomical to help
those with greatest need, so, an
overbearing and onerous
compliance regime discriminates
against those who need it most.
Let’s have sensible laws that
protect people and allow everyone
to flourish.
Stop Press ! Changes to Finance Industry July 2013
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 12
On April 8 Australia Post increased
its postal charges by 30%!!!
They face a backlash from businesses
of course, but will that change
anything? Small business and
especially EBay ecommerce
businesses are worried and rightly so.
Price increases by Australia Post for
delivery services will make it
impossible for Australian websites to
compete online internationally. In
most cases it is cheaper to buy from
New Zealand, Hong Kong or even the
UK and USA.
Australia Post says that most increases
are less than 7% and all parcels now
include tracking.
Now customers can choose a delivery
speed - same day, next day, or regular
- and then choose add-ons such as
extra cover or cash on delivery.
However, online retailers will now
have to pay for such services, some of
which they used to receive for free as
part of using registered post. That
could mean price increases of up to 40
per cent, once add-ons were included.
The cost of Australia Posts' signature-
on-delivery service, once restricted to
eBay sellers via the Click and Send
service but now universally available,
has almost tripled, from $1 to $2.95.
http://auspost.com.au/parcels-mail/new-
prices.html
Increase in Australia Post postage costs! How to kill Australian businesses and price them out of the market ...
Online shopping in Australia is
now worth in excess of $13 billion.
There is huge demand for parcel
delivery services-it is a growth
industry. There is certainly room
for a more innovative approach and
recently Toll Group signed up with
the technology group TZ, to
implement a locker system for
online retail parcel deliveries, to
begin in May.
This would give online shoppers
access to their parcels via
convenience stores, petrol stations,
corporate and retail buildings and
office parks across Australia,
hopefully reducing delivery costs.
Surely we are going to see ‘free
postage’ disappear now? As many
as 90% of buyers are using Paypal
now. Paypal sellers need to show
‘proof of delivery’ in case of a
dispute claiming an item has not
been received. Many parcels go
missing either by theft, damage,
fraud or abandonment so if the
extra $2.95 for a signature on
delivery is not taken up, the case
will be closed in the buyer’s favour.
Do you need to add
Ecommerce to your Website?
We'd be happy to give you
A FREE Website
Analysis and Review
to help point you in the right
direction. No obligations. Just a
friendly chat!
Ph 3410 1071
web: online-biz.com.au
Like the Eagle we see the Big Picture
MIMBEE MULTIMEDIA (est 2002)
Online Business Website Consultants
Miriam Battersby,
dip Multimedia, International Webmaster Certification
Woorim , Bribie island
ph 3410 1071
http://www.online-biz.com.au
Postage is so expensive now that
you may as well use couriers.
Go to http://www.temando.com/,
an online courier booking site.
There you can get a range of
quotes from most of the main
stream courier companies in
Australia.
Sometimes it works out cheaper
and they come to your door so that
means no more queuing at the post
office.
Marketing Means Business 0451 184 599 Email: [email protected] Web: www.b2bbs.com.au 13
KEEP IT LOCAL
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