7 minute read
Mentoring Business
Let’s Build Business Momentum
We know that starting and operating a business is demanding. In growing economic cycles hard work is rewarded by growth and profit. When economies are flat or trending to stagnate or feel recessionary the business cycle is made doubly tough. Business can make all the right moves, deliver high level enthusiasm, relevant products and still struggle to remain viable. Customer’s confidence always holds the key.
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Now more than ever consumer behaviour and spending swings are unpredictable. Media reports, world events and personal circumstances greatly impact our behaviour as consumers. Even Christmas time is not immune from changed behaviours of purchasing and spending less.
Customer sentiment and confidence has clawed back from negative territory to neutral 100 index points, for the first time since 2013. So let’s keep this momentum. There are some key areas where business can ensure they are atop the viability curve and not drifting backward when consumer confidence evaporates and spending stalls:
Review Margins. The greatest profit driver is healthy margins. What are your business best five product margins and what is this average. Do you know your key margins for: cost of sales, gross profit, expenses to revenue, wages to revenue. Benchmarking and review of industry standards will identify problems. There is plenty of data to compare your business model performance with similar industry operators.
Sample below – Industry average (ATO) BUSINESS GROSS PROFIT COST GOODS Coffee shop 61% 39% Clothes retail 49% 51% Mechanic 72% 28%
EXPENSES/ REVENUE 84% 83% 56%
WAGES / REVENUE 21% 16% 28%
Know your Break-even Analysis. Understanding break-even is empowering. Every business person should know this simple tool. Don’t leave this to your accountant. Break-even is what business live and perish by. Sales targets are determined and set by reference to break-even otherwise business is guessing and have no benchmark for sales staff performance. A simple example; if business average unit sale $86.00, with margin 51 per cent monthly expenses of $5,300/month what is the break-even? The answer is sales of $10,392.00 or 121 units.
Marketing Message. Marketing is everything you do. Your attitude, personal presentation, merchandising styles, phone manners, email signature, vehicle signage/condition, business cards and online sites/ presence all contribute marketing messages. Marketing is investing in awareness building and brand identification. But what is your message? What is the compelling value proposition business message? Are the business values and authenticity communicated in an understandable jargon free mantra. If not, it’s time to get one. In the clutter of competition, what will make your business and offering stand out? To create a powerful value proposition research customer insights and how competitors solve customers’ pain. Then ask what do we do. Why do we do what we do and does this fit our market providing real value.
Rod has 27 years’ experience as a company owner, director and entrepreneur, and 10 years as a Business Mentor and educator. He is a founding Director of the Business Enterprise Centre Sunshine Coast and Queensland Director of BEC Australia (non-profit Network). ca 1300 133 058 // www.businessenterprisecentresunshinecoast.org.au
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Why contact the Start Fresh Finance team? “From the very beginning, dealing with Jan was a pleasant experience. Jan walked us through our application via phone calls and emails as we live interstate. Distance was no barrier for Jan to work her magic. Our finance was organised without any hiccups and with a quick turn around. I would recommend Jan at Start Fresh Finance to anyone who is after efficient and friendly service.” Why contact the Start Fresh Finance team? “Jan is a BRILLIANT financial professional and she has all of the best qualities of a professional broker. She is highly client focused and cares deeply about the outcomes her clients. I greatly admire Jan’s ability to make complex situations seem simple and clear. I also respect her ability as a business owner and leader and I see her at the forefront of professional Financial Brokers” Jen & Paul O’Shea - NSW Ben Reiss – BTE Excavations
Contact Jan on 0468 371 449 jan@startfreshfinance.com.au
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IF YOU COULD HAVE ANYTHING IN LIFE, WHAT WOULD YOU WISH FOR?
www. businessmattersmagazine .com.au // Publication Date 15 June // Next Issue 20 July YOUR SUNSHINE COAST LIFESTYLE MAGAZINE SEE PAGE 68 FOR OUR SPOTLIGHT ON SUCCESS SERIES NINE YEARS ON WITH LOCAL SUCCESS ‘WORLD SURFARIS’
Sc–Rub Tur–kee [noun] • Adapts to local habitat • Prefers sustainable stuff
Welcome to Scrub Turkey! This funky and earthy café and produce store is the newest addition to the BFresh family. Scrub Turkey sources the best local, organic and sustainable products and is located adjacent to its ‘big sister’ BFresh in Warana. Each issue, Life Matters, will be sharing products and tips to not only help you to look good and feel good but to help you to make choices that will make a difference to the sustainability of our community, country and planet.
Turkey Scrub Gypsy Gregory is the inventor/chef of Turkey Scrub, a whole body exfoliator which combines sustainable coffee grinds and cold pressed organic coconut oil to exfoliate and moisturise the body in one deliciously pampering experience.
How did you come up with this idea? Gypsy learned that coffee grinds were a great skin exfoliator and when combined with the moisturising and antiseptic properties of coconut oil, she knew she was onto a good thing. Having had a few skin problems of her own and having tried many things, this combination was the perfect natural alternative and gave her fantastic results. Word soon got out and orders started rolling in from members of the Scrub Turkey and BFresh family. She was on a winner and now supplies her famous ‘Turkey Scrub’ to the general public.
How do the coffee grinds help the skin? Coffee grinds are the perfect exfoliator for the skin and due to utilising them in their natural state, are not as harsh on the skin as some processed exfoliates can be. As such, they also retain a lot of their caffeine levels and when applied to the skin, are absorbed naturally through our pores. Caffeine has been known to help with skin elasticity and firming, leaving your skin feeling fresh.
What are some other ways to use Coconut Oil? * Coconut oil can be used as a makeup remover. It’s really great for eyelashes as it softens the mascara and helps to remove it without damaging your lashes. Using coconut oil for makeup remover is also great as it helps to rejuvenate the skin with the moisture your makeup may have been removing throughout the day. * Coconut Oil can also be utilised as a hair mask.
Hop in the shower, brush it through, leave it in for a few minutes and wash it out with shampoo. Your hair will soak up the moisturising properties. * It can also be used for ‘oil pulling’. This simply means swishing it around your mouth, just like mouthwash. Due to the antiseptic properties it can help to keep your mouth and gums healthy.
Meet our SCRUB TURKEY Family… Gypsy Gregory
Tell us your Scrub Turkey story? For a year I was working over at BFresh and when I found out Belinda was starting a side project I was really interested in it and the concept and wanted to be a part of it What do you love about being part of the Scrub Turkey Family? I love getting to know all of our locals. You really discover what is coming into the store and what is going out. You know what’s being put into what you’re eating and what you’re buying. You also get to discover what everyone is doing on the Coast. It’s pretty awesome when you get to see just how many people have their own chickens, greenhouses and how many people make their own healthy chocolates. It’s amazing how many people are involved in the healthy lifestyle.
What are your favourite Scrub Turkey products (besides your own
amazing Turkey Scrub!)? I love the Saya Skincare range but I have to say my absolute favourite is the paleo chocolate!
