bartercard
issue twelve
. RESPECT EACH OTHER . WHY CONSUMERS BUY . . BUSINESS CONTINUITY PLANNING . . SOCIAL MEDIA 103 . SUNNY HAWKE’S BAY .
CONTENTS
6 10 THE CEO’S DESK 3 FROM Respect each other
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MAPS 4 BARTERCARD Your quick guide to getting started
CONSUMERS BUY 12 WHY How you can help fulfill your customers needs MEDIA 103 13 SOCIAL What is Social Media?
MEDIA 6 SOCIAL Join us online
YOU 14 THANK Recognising your employees can go a long way
7 Christchurch Earthquake Appeal A SMALL BUSINESS 8 SELLING What it’s worth YOUR BUSINESS SURVIVE A 10 WILL DISASTER? THE BARTERCARD FOUNDATION
HAWKE’S BAY 16 SUNNY Visiting the Hawke’s Bay, New Zealand
Business Continuity Planning
www.bartercard.co.nz Not a member of Bartercard? To find out more and join the world’s largest trade exchange phone 0508 BARTER (227 837) or visit www.bartercard.co.nz
bartercard vivere PRODUCED BY Bartercard New Zealand Marketing Team Marketing Manager: Emma Oliver Graphic Designer: Juran Haurua Marketing Assistants: Melissa Harwood, Steven Wong Please contact your Trade Broker with any Advertising queries. CONTRIBUTING WRITERS Sarah Ferguson, Emma Oliver
Bartercard New Zealand PO Box 101 563 NSMC, Auckland Email: info@bartercard.co.nz Website: www.bartercard.co.nz
FROM THE CEO’S DESK
Respect each other Point 5 in my series on Servant Leadership is all about respect. As leaders we need to earn it and give it, respect cuts both ways. So how do you earn respect as a leader? Is it possible to recover from a lack of respect? I believe the answer to both is the same thing, doing what you say you will by positive action and results. People want to see leaders in action and being prepared to do what they are asking of their people, not only that they want to know you can get results, at what they do and for the organisation. Let me give you an example, in Bartercard our sales people are responsible for introducing the Bartercard concept to businesses and showing them how the business tool can help their business. Much like any business someone is responsible for gaining new customers. For me to earn the respect of my sales team the simplest thing I could do was to sign up a new Bartercard member myself, not just once but on a reasonably regular basis. Have I had people say no?, absolutely, have I experienced what I ask my sales people to do?, yes. This is a key way to earn respect from your people. Leaders need to be prepared to get their hands dirty, show your people you understand what they have to go through. I met with the CEO of the NZ Rental Group yesterday and one of their companies is Portaloo. When I booked the meeting I offered two alternative times, the first time I offered he said he couldn’t make because he was out all day on a pump truck emptying portaloos, now that is earning respect! Respecting the people you lead is the other key area of respecting each other, respecting what they do & who they are. Remember that in every team someone is the water boy, but without the water boy the team could not function properly. Every member of the team needs to be respected as part of the team regardless of the role they play. Respecting who people are is another key area, they may have different beliefs than you, have different interests, think differently on a range of subjects and they will most probably have a different personality to you. I want you to pick two of the following words that best fit you: Playful – Powerful – Precise – Peaceful. You will find one of these words is most like you and a second is pretty close behind it, as leaders we need to understand that the people we lead are all very different from us and we need to understand why that is, and personality is one of the keys to answering that. My wife learnt about these words a few years back and she is a Precise Peaceful, and now when the pillows on the couch are out of place she loves to say “precise is not happy” and we both know this is important to her. We need to respect that we are all different and accept people as they are, even if that means ensuring the pillows are kept straight on the couch!
Paul Bolte, CEO Bartercard New Zealand
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BARTERCARD MAPS Getting started with Bartercard Maps
Bartercard Maps - Your Guide to Getting Started Bartercard Maps is the smart mapping tool developed by Bartercard New Zealand to enable you to find other Bartercard Members in New Zealand with ease. Log onto Bartercard Maps and discover other members to trade with in your area or search for members by category. If you want to search for all members in one area or just one category such as restaurants in Wellington it is a breeze - you can even view their directory listings! The map is refreshed every day with new members’ details as they join and any changes to existing members’ details. Bartercard Maps will always be up-to-date and showing the latest listings for all members.
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Enter your card number & cardholder name (your personal name, not your account name) in the fields provided.
To get started log on to www.bartercardmaps.co.nz
You can use the remember-me facility on the login page by ticking the box so the site will remember who you are the next time you log on using the same computer.
If you have a Bartercard Gift Card just enter your Gift Card number, and your name in the fields provided.
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There are 2 textbox search boxes that you can use to perform Bartercard Maps searches. You can use one or more of these textbox search filters.
If you are looking for a particular member: You can type the members name in the ‘What’ textbox.
To look for all members in a particular industry: Use the ‘What’ textbox. As you start typing, a list of possible categories will be displayed. Alternatively, you can browse the available categories by clicking on the browse button above the ‘What’ textbox.
View all Members nearby, or in a particular area: To do this, you would use the ‘Where’ textbox. You can provide an actual street address, or just a suburb or town. As you start typing the address in the ‘Where’ textbox, a list of possible addresses will be displayed. Once you select a location from the displayed results, the map will zoom to your chosen location. Rather than providing an actual location to search, you could tick the limit search to current map view (below the ‘Where’ textbox). This will perform a search for Bartercard Members that fall within the displayed map.
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If your search returned more than 10 results, you can use the paging facility located below the search results (on the left hand side of the page). Although only 10 large result icons are displayed at one time, smaller dots are displayed on the map for all returned Bartercard Members. You can hover over these to see the name of the Bartercard Member. You can also click on these to jump to the page displaying that Members full listing details.
www.bartercardmaps.co.nz Bartercard Maps is now available on your mobile!
Other helpful hints...
• To change the sort order of search results click on the sort drop down above the search results. In addition to the default sort, you can sort by closest to your location, or alphabetically. • All searches performed within the last 2 weeks are visible by clicking on the recent tab on the top left hand side of the page. You can then click on a recent search to bring up the results for that particular search. • After performing a search you can bookmark your search for future use. Click on the bookmark icon above the search results (Green Star). Then choose your own bookmark name for the search. You can also bookmark a Member. To do this, click on the Member icon to display the Members full details. Click on the Member bookmark (Green Star), at the bottom right of the listing window. Bookmarks are available under the favourites tab.
Using Bartercard Maps on your Mobile Phone If you have a smart phone you are now able to use Bartercard Maps on the go.
To log onto Bartercard maps with your mobile phone type in the web address and you will be taken to the mobile version of the site. Enter your details as you would on the computer and you are logged in and ready to use Bartercard Maps. If you have an iPhone click the icon with the arrow at the bottom of your screen and select “add to home screen”. This way it will save Bartercard Maps onto your home screen so it can be accessed easily at any time.
• To delete a Bookmark look for the red cross to the right of each bookmark under the Favourites tab. Click on the red cross to delete that particular bookmark.
Click here to view our step by step video guide to Bartercard Maps presented by CJ Bruton
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SOCIAL MEDIA Bartercard & Facebook
FIND US ON FACEBOOK We are aware that many of you use Social Media sites such as YouTube, Twitter and Facebook on a daily basis. If you haven’t joined our facebook page already visit us at www.facebook.com/BartercardNewZealand and click “like” to join us online. Our Facebook page will keep you up-to-date with what is happening with our sponsorships, branch events, trading tips and other info that you won’t want to miss out on!
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BARTERCARD FOUNDATION Bartercard Foundation
THANK YOU TO EVERYONE WHO DONATED TO THE CHRISTCHURCH EARTHQUAKE APPEAL With your help we managed to raise over T$180,000 to help those affected by the February earthquake in Christchurch. Through the generosity of our members, the Bartercard Foundation was able to provide a shipping container of water bottles, cases of fruit, a shipping container of meat pies and a container of needed products such as hand sanitisers, camping lanterns, batteries, face masks and anti bacterial hand soaps. We must also say a very special thank-you to Graham Pullman and the team from the Combined 4WD clubs who managed to distribute all of these valuable items to those in need on the ground. We are still working to spend the remainder of the funds and have turned assistance to helping our members to get their businesses back up and running. We will continue to update you with progress on the Bartercard Foundation & the Bartercard Foundation Earthquake appeal on our Facebook page.
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BUSINESS Selling a Small Business
Selling A Small Business What’s it worth? Valuation
No matter what your business is you will ultimately ask yourself “what should I do with my business?” The answers are many and varied, whether you decide to turn it over to a family member, sell, or retain an interest in it. Whatever the answer, it is a challenging question. Like most business people, your business will mean a great deal more to you than a way to ‘pay the bills’. To build it, you invested a great deal of your time, energy and resources, and it probably seems like an extension of yourself. Letting go of it will be difficult, however it is inevitable.
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No matter how good you are at running your business, you may not know its fair market value. You may know your plant and equipment cost, and you may have a good idea of their current value, but these tangible assets are likely to comprise just a fraction of your businesses total worth. It also has intangibles, such as goodwill and “going concern” value.
So, how precisely can you know your businesses real value?
on the best terms.
There is no simple formula for computing the value of a business. Even if two businesses have roughly equivalent cash flow, their capacity, the markets in which they operate, the competition, and numerous other factors can make all the difference in the world when it comes to value. Each business must be valued as a unique entity. The fair market value of your business is the value it would have to a prospective buyer - someone whose primary concern is its profit potential. Determining that potential is a specialised task and one that calls for the skills of a professional business valuer. By investing in an expert valuation, you can save yourself a great deal of time, money, and grief. Without it, you run the risk of either underestimating your businesses worth and accepting too low a price for it - or overestimating its worth - and wasting valuable time trying to reach an unrealistic goal. A good way to find a reliable valuer is to obtain referrals from other people who have sold their businesses, ask your financial adviser or an industry body. An appraisal that merely lists transactions that appear to resemble yours will not prove terribly useful; it should also include data about comparable sales with information about your business. The end result should be a comprehensive statement of your businesses worth. A valuer will need to examine your businesses books in detail and to review financial statements for the last five years, including balance sheets, income statements, and sources and use of funds. In addition, the appraiser may review local, national, and worldwide conditions that affect the business. In valuing your business, an appraiser is likely to review past financials to determine the business’s maximum earning capacity. Small business owners often employ a wide range of operating styles, from aggressive to conservative, which produce wide ranges in earnings. An experienced valuer will recast these numbers to reflect more accurately what a prospective buyer could expect the business to generate as profits. At the end of the day, an accurate valuation puts you in an excellent position to negotiate a sale of your business
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BUSINESS Business Continuity Planning
Will your business survive a disaster? Business Continuity Planning.
As a small business owner you need to ensure that your business is operating in an effective manner at all times and often you can’t afford to spend hard earned dollars and resources on anything that is not absolutely essential to your business. That is why small business owners usually don’t plan for a disaster. However there are some simple steps that may keep you in business should a disaster or emergency event occur.
Ask yourself: • Do you know and understand the major threats and risks to your business operations? • Do your preparations address the critical emergency functions of planning, mitigation, response and recovery? • Do you have a Business Continuity Plan, and is it integrated with normal business operations? • Have you checked and practiced your emergency preparedness? • Can you alert staff, managers and response teams in a crisis? • Could you deal with the media during a crisis? The first step is to understand what is critical to your business. Start by asking your managers and senior staff to provide you with the following: • • • • • • • • •
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What activities they do on a regular basis. Who do they send to, or receive information from, to complete these activities? What software do they use? Do they use any special type of equipment to complete these activities? Customer names and contact information. Supplier information and contact names. Copies of financial information that can be stored off-site. Contact information for staff members. Copies of manuals and other information that they use on a regular basis that can be taken off-site.
Once you have this information what do you do with it? You need to make sure copies of the software, contact information and manuals or documentation are stored off-site. Much of this can be stored electronically. You probably won’t have a large amount of material to take off-site so you won’t need an off-site storage provider. It is key that your staff know how to contact each other in case of an emergency. You do need to make sure that this information is accessible 24 hours a day to you and at least two other people, so keeping it on the servers or your laptop isn’t really a good idea.
If you can burn copies of all of the data onto CDs, then make it a habit to burn multiple copies of the data and changes on a regular schedule.Take a copy home and give the other two people copies to take home. Once this information has been gathered, and stored off-site, you can start looking at the technology and work area recovery that you need to put into place to fully recover your business when an emergency or disaster event occurs. Business Continuity Planning doesn’t have to be difficult or expensive, but it is essential, no matter what size the business is because disasters can happen at anytime... is your company prepared?
If it is stored on your servers, what happens if you cannot get into your building after the event? If it is on your laptop, do you take your laptop everywhere you go? This includes lunches, meetings, coffee breaks and anywhere else that takes you away from your desk during the day.
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BUSINESS Why consumers buy
Why Consumers Buy Put very simply – people purchase to fulfil a need. So what influences us to make the choices we do? Most consumers flow through 5 stages when making a purchase. The amount of involvement the consumer has at each stage is dependent on the type of purchase for example someone purchasing toothpaste will go through the stages of consumer purchase behaviour seeking less information than someone who is purchasing a new laptop computer.
The 5 stages explained simply... Problem/Need Recognition Something prompts the decision to buy – it may be that you run out of shampoo, so you head to the shop to purchase a new bottle, or your DVD player has stopped working, which prompts you to go and look for a new one. You have a problem that needs to be remedied – a need that requires fulfilment. Information Search Using the example of the DVD player - How do you decide which brand? What functions do you need? Will you purchase the same brand you had previously? What other factors are important to you? Consumers when faced with the task of purchasing a new item, especially ones with a high perceived value will search for information to guide them towards a decision. They may gain information using an internal search (within their memory), or external sources such as the internet, family, friends, niche magazines and sales people. They also may trial the product before the purchase, all in order to be able to make an “informed” decision. A successful information search will leave the consumer with a set of options to evaluate.
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Evaluation of Alternatives It is more than just the brand that is important. With high value items many consumers will act on what is similar to a points based system, comparing products to decide which one will better fulfil their need. This way they are able to compare attributes of various brands and rate them according to their importance. Consumers will usually have a brand preference although it may be a review or recommendation from a friend that tips the scale. In the case of a DVD player it may also be more than just comparing brands. Consumers may also look at other technologies such as a DVD-R or Blu Ray when making a decision. Purchase Decision After evaluation of the alternatives the consumer will make the purchase – either online, over the phone or in store. Post Purchase Behaviour After purchasing we may have doubts about the product - did we do the right thing? Was this really the best product to suit my needs? This is where it is important for companies to reinforce the buying decision, to make consumers feel proud of their purchase decision. Consumer behaviour is affected by so many factors such as culture, social standing, income, media and role models. Through all purchases however, the buying behaviour is consistent. It is important that you understand who your customers are in order to find ways to understand the process of how they purchase in more detail.
TECHNOLOGY Your Social Media Guide
Social Media 103 Using Social Media to reach your business goals. Through our last few articles we have covered the importance of Social Media and the different platforms available for you to use, but what now? How do you go about engaging your current and potential customers through your online space?
What is the big picture?
Think about what you are trying to achieve through your online efforts… is it increased awareness of your product? Increasing your sales? do you want to find out what your customers are thinking? or perhaps something else. Make sure you clearly define the reasons for getting engaged with Social Media. Realise that people are always going to use these avenues to express their criticism and point out where your business has faults although if you provide a platform you will at least have to opportunity to address it. This is a great medium for finding out how happy your customers are and how you can improve your products and service. It is also a great platform to get feedback and ideas for improvement – your customers may even come up with ideas and alternative uses for your product you may not have thought about.
Make sure you have a plan
Know your audience and keep your information relevent to them. Make sure you are tweeting, posting and blogging about things that are relevent to your customers, things that they are interested in… People always want to know what is in it for them - if they feel there is nothing - they will “unlike” your page or stop following you. Plan in advance what you are going to say to ensure that you always have something to keep them engaged. Often companies start off with great enthusiam only for it to wain after a few weeks, or months as they run out of ideas. You are also able to use offline opportunities as ways to enhance the online experience. You may give special in-store offers to those who follow you online, or invite them to special events.
Measure, Measure, Measure
The measurement may be something as simple as gaining more “likes” on your page, or to increase traffic to your website through click throughs.
If you were paid $1 for every time an article was posted on Wikipedia you would earn $1,712.32 per hour. 400 million people sign into facebook at least once every month. 50% are on the site every day.
As with all marketing efforts it is important to measure your effectiveness. Social Media takes time to establish so you need to make sure that what you are measuring is realistic and the goals you set for yourself are attainable.
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BUSINESS Recognising Employees
Thank You As we all become busier going about our day it seems to have slipped our minds how important these two words are. In early April the Japanese government placed ads in newspapers throughout the world to say “thank you” from Prime Minister Naoto Kan. The ads were in response to the support shown to Japan after their horrific Earthquake and Tsunami. How is it that a government is able to see the effect that two small, but important words can have, whilst as managers and business owners it is harder for us to acknowledge those who support us? Employee engagement is one of the major drivers towards success. According to Dr Bob Nelson, 85% of employees feel overworked and underappreciated, and recent surveys from Leadership Management and Seek show that at least 60% of employees either hate their job or have a neutral attitude towards it. At least 20% of the workforce is looking for alternative employment and 4 out of 5 would leave their job if the right position presented itself.
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As business leaders how can we solve this? Of course it starts at the top. You have to be engaged – this will in turn influence those around you and increase morale and productivity. The role of a manager today is to be a coach, mentor, counsellor and cheerleader. We must make sure our employees have a supportive environment and that this ever increasing pace of business doesn’t allow us to lose touch with our most important asset – our people. “Men and women want to do a good job, a creative job, and if they are provided the proper environment, they will do so” Bill Hewlett, Co-founder, Hewlett-Packard The impact recognition has is staggering – you are able to increase moral, productivity, competitiveness and of course revenue & profit. If you have a disengaged workforce you will see more stress, absenteeism, staff turnover and related costs.
So how do we recognise employees? The main types of recognition are formal and informal. A structured program for recognition of performance is important, although personally thanking employees for a job well done is a top motivator. Make sure you are able to “capture the moment” when an employee does something that you appreciate. A spontaneous gesture or sincere thank you will go a long way. Whether it is in front of peers, one-on-one, in writing, or a combination, make sure it is timely and delivered with sincerity. What would happen if you extended this recognition to your customers? If you want to build strong customer relationships, then you need to take the time to express your gratitude to your customers as well as employees. Recognition is so easy to do; it is inexpensive and may just help to make the difference engaging those in your business. Give it a go today.
There are plenty of inexpensive and effective ways to recognise your employees… here are a few to get you inspired: • Personal thanks • Thank you notes • E-mail praise • Public praise • Certificates, trophies or awards • Time with CEO, Manager • Employee parking space • Wall of fame – photos of achievers • Time off (longer lunch hour one day, day off, extended weekend) • Baking cupcakes, biscuits • Cooking & serving a meal – pancakes or BBQ • Inter-team competition Try these sentence starters… Thank you for… I saw what you did… I appreciate it. It makes me feel… Make sure you focus on the areas that will have the most impact. Have lots of winners and allow flexibility with rewards. Once something starts to lose effect don’t be afraid to change it – put the spark back in it and continue to find ways to encourage the behaviours you would like to see… then don’t forget to say Thank you!
“Once employees see that what they do makes a difference to the organisation and is valued, they will perform at higher levels.” Rita Numerof, President, Numerof & Associates
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TRAVEL National Destination - Hawke’s Bay
SUNNY HAWKE’S BAY The Hawke’s Bay is renowned throughout the country for its sun & wine. Its long hot summers and mild winters make it a perfect destination to visit year round. It is the perfect destination for a romantic getaway, time out with the kids, relaxing on a beach or an adrenalin packed adventure. Encompassing Napier, Hastings & Havelock North there is plenty to see and do. Napier, the main city of the region has a large collection of Art Deco architecture, which was built after the earthquake that devastated the city on February 3rd, 1931. The gannet colony on the tip of Cape Kidnappers is unique to this area and believed to be one of only two mainland gannet colonies remaining in the world. The region also boasts the longest place name in the world according to the 2009 Guinness Book of records. Taumatawhakatangihangakoauau otamateaturipukakapikimaunga horonukupokaiwhenuakitanatahu is an unremarkable hill in southern Hawke’s Bay, not far from Waipukurau.
Hawke’s Bay is one of New Zealand’s warmest, driest regions so it is no surprise that it is a large producer of wine and the largest pip fruit growing area in the country. There are several vineyards only a short drive from the main Hastings and Napier city centres. The vineyards are an excellent retreat, where you are able to relax and taste wine in the Mediterranean style climate. Relax where art meets science amongst a wealth of scenery and take a behind the scenes look at a winery. Odyssey NZ is Hawke’s Bay’s leading scenic wine and gourmet experience. They will collect and return you to your place of accommodation. During your day with them you will savour some of Hawke’s Bay’s internationally acclaimed wine and food on this fabulous Odyssey. They also include a fully guided sightseeing commentary. You will sample wine and matching food at one of NZ’s top winery restaurants. Platters include the finest local produce - meat, seafood, vegetables, cheese, olives, olive oil, breads and dips.
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If you are looking for something a little more adventurous give Hawke’s Bay Cycle Tours a call. You are able to choose from one or more of their specially designed tours ranging from 35 - 80 kilometres. If cycling is not your fortay but you would like to give it a go there is no need to worry as all their tours are pleasant one day tours suitable for anyone with a moderate level of fitness. All tours come with a booklet giving you tour information and easy to follow directions so you don’t need to worry about getting lost! One of the tours is fully guided and the others can be guided by arrangement. Flexible tour packages give you the opportunity to decide what you want to do and all equipment is included. After your cycle adventure, you will be in need of a good meal. Take a drive out to Waimarama Beach and take in the awe-inspiring scenery and views. Be rewarded for your efforts at Jarks - true destination dining! They have Brunch, Lunch, Dinner, Bar Snacks and a Jarks Junior Menu available.
Log onto Bartercard Maps to find out where to use your Bartercard
www.bartercardmaps.co.nz
Of course you will need somewhere to stay when visiting, as you will want to spend more than a day in this region. From chic Bed and Breakfasts, to luxurious Lodges, affordable family motels and upmarket hotels, the region has a plethora of accommodation options to suit all visitors. Just contact Bartercard Travel and they will be more than happy to assist with your travel requirements.
HAWKE’S BAY CYCLE TOURS www.hawkesbaycycletours.co.nz (06) 870 1114 info@hawkesbaycycletours.co.nz Your guides - Sheryl Summers & Greg Bigg PEGASUS RENTAL CARS www.carrentalsnapier.co.nz napier@rentalcars.co.nz (06) 843 7020 Contact - Bing and Janice Young
JARKS LICENSED SURFSIDE CAFE & RESTAURANT Open Thursday-Saturday: 10am - 10pm Sunday: 10am - 8pm Monday: 10am - 4pm www.jarks.co.nz 2252 Waimarama Road, Waimarama, Hawke’s Bay (06) 874 6550
ODYSSEY NZ “A Wine & Gourmet Odyssey” T$85.00 per person for a 5 hour wine experience: 12:30 - 5:30 pm 0508 639 773 info@odysseynz.com Your Guide - Gareth Kelly Listed in Cuisine Magazine - Wine Country - 2010 Qualmark endorsed
ACCOMMODATION Contact Bartercard Travel 0800 22 87 22 vivere 17