THE STREET EAS STRAIGHT FROM FRESH MARKETING ID
ISSUE 08 • A P R I L / M AY 2 0 1 4 •
Structure your business ready for
SALE
INSIDE
o” list -d o “t ed is al n so er p r u yo e at Cre with the Marketing Experts
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make my own notes.. 10/04/2014 6:36:25 p.m.
Save the Date... April BUSINESS MASTERY Adelaide Saturday 12th April Crowne Plaza Adelaide 16 Hindmarsh Square Adelaide SA 5000 Melbourne Monday 14th April Mantra on Russell 222 Russell Street Melbourne VIC 3000 Sydney Tuesday 15th April Mantra Chatswood 10 Brown Street Mantra NSW 2067
Gold Coast Wednesday 16th April Royal Pines Hotel Ross Street Benowa QLD 4217
Friday 18th to Monday 21st – Easter Weekend Friday 25th Anzac Day Perth Tuesday 29th April Technology Park 2 Brodie Hall Drive Bentley WA 6102
May BUSINESS ADVISOR TRAINING Saturday 3rd - 6th May Sunday 11th May Mothers Day BUSINESS MASTERY Adelaide Saturday 17th May Crowne Plaza Adelaide 16 Hindmarsh Square Adelaide SA 5000 Melbourne Monday 19th May Mantra on Russell 222 Russell Street Melbourne VIC 3000
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May... continued
June ... continued
Sydney Tuesday 20th May The Menzies 14 Carrington Street Sydney NSW 2000
Perth Tuesday 24th June Enterprise Room, Innovation Centre of WA (Building EU3) 9 De Laeter Way Bentley, WA 6102
Gold Coast Wednesday 21st May Royal Pines Hotel Ross Street Benowa QLD 4217 Perth Tuesday 27th May Technology Park 2 Brodie Hall Drive Bentley WA 6102
CRACK THE MILLIONAIRE CODE
Sydney Saturday 28th - Sunday 29th June The Sydney Masonic Centre 66 Goulburn Street Sydney NSW 2000
July
June SCREW SURVIVAL AUSTRALIAN TOUR Sydney - Mon 2 June Melbourne - Tue 3rd June Adelaide - Wed 4th June Perth - Thur 5th June nd
Venues to be confirmed BUSINESS MASTERY
Adelaide Saturday 14th June Crowne Plaza Adelaide 16 Hindmarsh Square Adelaide SA 5000
BUSINESS ADVISOR TRAINING Monday 7th July Crowne Plaza Surfers Paradise 2087 Gold Coast Highway Surfers Paradise
GOLD COAST BUSINESS SCHOOL Tuesday 8th - Thursday 10th July Crowne Plaza Surfers Paradise 2087 Gold Coast Highway Surfers Paradise
Melbourne Monday 16th June Mantra on Russell 222 Russell Street Melbourne VIC 3000 Sydney Tuesday 17th June The Menzies 14 Carrington Street Sydney NSW 2000
Gold Coast Wednesday 18th June Royal Pines Hotel Ross Street Benowa QLD 4217
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publishing editor Ian Marsh
Who else wants the biggest pay day of their life?
ian@streetsmartmarketing.com.au
chief copywriter Max Kitchen design Melissa Hinves Marie Broderick
marie@thegrowagency.com
distribution
This magazine is a private publication available by subscription only.
Ian Marsh
CEO & Co-Founder StreetSmart Marketing ian@streetsmartmarketing.com.au
For subscription enquiries please phone 1800 896 410.
Hello Fellow Entrepreneurs, I am very proud of this issue of StreetPress because I believe we nailed it! What is the ‘it’? Well, by the time you finish reading this magazine, you would have come to the realisation that if you are not seriously committing to structuring your business ready for sale then you are spinning your wheels and not going anywhere. I learned this skill of ‘Business Ready for Sale’ many years ago, and so I have sold three of my companies for fantastic money. I sold an education business, an air-conditioning business and an online internet business. Now, with each one, I set out with one goal. Who was my ideal buyer, and what would they want this business to look like. Now, let’s look at the two outcomes of hard working entrepreneurs. I promise you other people went into air-conditioning at the same time that I did. They worked just as hard as I did. But, 5 years down the track, when I wanted a different life, I managed to sell my company for a huge payday, and yet the other guys, who were just as smart and worked just as hard, still had the same type of business, which in reality was a good paying job, instead of setting themselves up for life.
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….and yet statistically only 2.1 out of 10 business owners ever get to sell their businesses.
Ladies and Gentlemen, please understand all large successful businesses started as little unsuccessful basket cases in many instances. They were all disasters, until they put the effort in to become masters. So, I say to you, you have to work anyway. Isn’t it better to be progressively putting systems in place to grow a real business, than to muck around the edges and maintain a well-paying (or in some cases, not so well-paying) job. So,
GET OUT THERE, GET SERIOUS AND GET STRUCTURED FOR THE BIGGEST PAYDAY OF YOUR LIFE! Ian Marsh CEO, StreetSmart Marketing
To kick-start your business growth and profit today visit www.StreetSmartMarketing.com.au
10/04/2014 6:36:26 p.m.
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Latest News
Taking the 8 LEAD
10
EXIT this way...
14
12
Navigating your way through the employee dismissal minefield
17
Business School in Sydney
The Great Man’s Effrontery to Fall Asleep in Front of an Audience and Turn Potential Embarrassment into Brilliance The Short-Cut to Copywriting Riches Exposed
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Take it to the next level
19
You’re an ass#@%&
20
Because You’re Worth it
5
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It’s time to up your game KPI Scorecard
To kick-start your business growth and profit today visit www.StreetSmartMarketing.com.au
10/04/2014 6:36:27 p.m.
NEWS
A change is gonna’ come With the huge changes in the global business landscape over the last decade, including China’s economic rise, not to mention the GFC, there’s no question that businesses have to embrace change because the business world will soon be very different. In Georg Vielmetter’s new book, Leadership 2030: The Six Megatrends You Need to Understand to Lead Your Company into the Future he attempts to identify the key areas that business leaders need to focus on in the years ahead.
welfare systems will be placed under increasing pressure, and will ultimately transform global consumer markets. Leaders will be forced to deal with the challenges of an increasingly intergenerational workforce, in which each distinct age group has vastly diverse attitudes and requirements.
Here are some of the highlights:
TECHNOLOGY
THE ENVIRONMENT
With the advances in scientific fields like nanotechnology and biotechnology, the potential for new product markets will be huge. What’s more, with the increasing demands on companies to stay ahead of the game, they will need to collaborate closely with competitors on innovative and complex Research and Development programs.
With a combination of the world’s diminishing natural resources and the continued threat of climate change, corporations are facing accelerating costs and social and market pressures. As a result, companies will need to fundamentally rethink their operations if they want to survive.
GLOBALISATION
THE DIGITAL (R)EVOLUTION
With the economic balance shifting to fast-developing markets in Asia, and away from the older, more established economies, it means many opportunities and threats will appear from highly localised market dynamics as a new middle class emerges.
It’s fair to say digital has become part of our everyday lives, with the balance of power shifting from organisations, through to consumers and employees. The line between personal and professional life has also become increasingly blurred, which means many leaders will be faced with more transparency around the way they work, and will need to act with greater sincerity and authenticity.
Leadership 2030: The Six Megatrends You Need to Understand to Lead Your Company into the Future
DEMOGRAPHICS
by Georg Vielmetter is now available at amazon.com
With an ever ageing world population, social structures and
Taking a swipe at the future It seems like The Matrix has finally infiltrated the business world, with the launch of new software that allows you to swipe images off a wall in Melbourne and view them on a table in Sydney.
content; and share and work on projects with colleagues anywhere in the world. The platform was launched at the recent Connect Expo 2014 in Melbourne and has already been adopted by clients including Victoria Police, Mondelez, Jumptank and Colliers International.
Turning walls, tables, whiteboards and smart devices into touchscreen networks, Cruiser is a new, innovative software program that is set to have a huge impact on the way companies collaborate.
Patrick Higgins, Manager, Property Management Group at Victoria Police remarked that the software was the most advanced touch interface he had come across.
The new product allows users to flick information from any surface, including personal smart devices, tablets, tables, walls and whiteboards, to any other surface located anywhere in the world for dynamic group discussion.
“We‘ve actually established a Cruiser facility at Victoria Police where staff can come together and collaborate on different aspects of building maintenance and property management as a team. We have 800 properties to manage, so this is an amazing tool for us,” he said.
As a result, teams can annotate images and video; resize, manipulate and copy media files; contribute additional 6
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Gloria Jean’s looks to get their ‘fix’ from franchising In a bid to wind down its corporate-run stores and become a franchise-only business, Global coffee chain Gloria Jean’s has announced that it will be closing 25 of its 400 Australian outlets this year. The decision comes after the chain revealed it was bought in December by Global Yellow Pages, a Singaporean database and directories company that has ambitions to export the Gloria Jean’s brand to China. Chairman and co-founder Nabi Saleh said: “Owning retail property ourselves is a distraction from our primary business strategy. By March 31 our goal is to either have all these coffee houses successfully franchised or closed.”
The Gloria Jean’s brand currently has corporate-run stores in five Australian states. The company could not confirm which stores would be closed or how many stores would be converted into franchises. They did however confirm that talks with a number of potential franchise partners had already begun, with some already deep into the training process.
Under the cash-and-shares deal, for which Global Yellow Pages raised $S62.9 million ($55.3 million), the company took control of all Gloria Jean’s Coffees and It’s A Grind intellectual property, the global supply chain operations, and the master franchisor business for all Gloria Jean’s Coffees coffee houses throughout the world. 7
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EARN A SIX OR SEVEN FIGURE INCOME AS A BUSINESS COACH
Have you ever thought how you could use your business knowledge and success to not only help other business owners but earn a substantial six or seven figure income in the process?
StreetSmart’s Business Advisor program takes a limited number of applicants each year into their intensive training program providing already successful business strategists with the tools and implementation capability to help Australian and international business owners reach their full potential. Unlike any other training program on the planet, the Advisor Training System potentially includes your first number of clients given to you to start working with straight away. A complete business, ready to push ‘GO’!
To order your FREE Information Kit please visit
StreetSmartBusinessAdvisors.com
Need more customers? Streetsmart Marketing can help. Phone us on +61 8 9201 2122
10/04/2014 6:36:29 p.m.
LEADERSHIP
Taking the
LEAD
How to build leadership qualities in your team so they can take your business forward without you
To be successful, every business requires a range of complementary skill sets. As the owner of a small business there’s a fair chance you’ll be asked to perform a handful of different roles out of necessity. And it’s likely that you’ll find that you are better at some roles than others. If you want your business to evolve and grow, and be in position where your team can take the lead so you don’t have to, there will come a time when these necessary skills need to be improved and extended. From the get-go, having the right team in place to complement and reinforce your business is essential, as it will help you to develop a more efficient and capable business. But there are also a range of additional leadership strategies that you can use to ensure your management team not only leads from the front, but ultimately, achieves a level of performance that gives you the confidence to leave the business in their hands.
Here are four of the best…
Get the balance of your team right from the start
Key staff are the backbone of your team
A great team cannot rely on the attributes of just one ‘player’. It needs to offer that vital mix of old experience and young talent. So, when you’re assembling your management team, understand what each of your ‘players’ brings to the table. A combination of individual specialities and expertise will ensure the business benefits from having its overall direction and goals viewed from different perspectives. The rapport that exists within a team is also crucial and can add further value beyond the individual talents and skills of each employee. Indeed team members who can relate to one another will contribute significantly to the overall success of your business. So when you’re hiring, don’t just look at their work experience and qualifications, try to get a real feel for who they are, their personality traits, and above all, whether they will ‘gel’ with their new colleagues.
The skills required to run a great business usually include some, or all, of the following: sales and marketing, production, finance, administration and procurement. Of course, not every business requires these competencies to the same degree or in the same combination. A review of your company values and organisational structure will help you identify skills that are essential and those skills that you and your staff currently posses. For instance you might find that specific areas of expertise (like a web developer) might only be required occasionally, in which case it may be better to outsource. As a business owner one of your most important tasks is to ensure that every team member is clear on their individual roles and responsibilities, and that effective communication strategies are in place. This should cover everything from formal management meetings, briefings, and weekly Work In Progress meetings, through to informal team building sessions, and an open environment where feedback is encouraged.
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Upskill, upskill and upskill some more Keeping your team members ‘relevant’ and ‘up to date’ is one of the key foundations of a successful business. There’s no doubt that regular training programs and courses are a great way to develop an employee’s specialist skills and knowledge, and also ensure they lead with confidence. The choice of industry training programs is usually wide and varied. Depending on your preference, there are the more formal courses run externally at a dedicated training facility, or in-house. training sessions, which are designed to offer help with on-the-job training, Team-building exercises are also great for morale and can play an important part in helping the management team work more effectively and collaborate better. So when you’re going through your budget planning at the start of the year, make sure you put something aside for team training and development throughout the year.
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It’s all about performance Developing your team into an effective, high performing unit is an ongoing process. Regular performance appraisals should help you to identify any skill gaps and implement potential training and developmental solutions. As you continue to delegate management responsibility and become more removed from the day-to-day tasks of your business, it’s crucial you have good systems in place to allow you to monitor performance. Key performance indicators (KPIs), give you the transparency you need to understand whether each team member is delivering in key areas – from hitting sales targets and their production output, through to financial performance and downtime. To ensure a 360 approach, KPIs should support informal and subjective feedback also. For instance, weekly team meetings will allow for an open forum where everyone can offer their opinion and give constructive feedback as to what could be done better.
A more informal appraisal system is also an important part of the development process, as this allows you to judge performance in areas that are not so easy to measure. A successful foundation for a good appraisal system usually covers these four steps:
1. S et objectives and make sure each team member is clear on what they are. 2. M anage performance by giving your staff access to tools, resources and training.
3. C onduct the appraisal and agree on future objectives. 4. O ffer financial rewards or promotion for good performance, or provide constructive solutions for performance that’s below par.
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SUCCESSION PLANNING
T I X E y a W s i h T
How to put in place a succession strategy that ensures your business remains successful when you’re no longer in it down the track, some owners or business founders will actually construct a succession plan when they start their own business, But the reality is, most of us, when we’re starting out, won’t have the time or indeed inclination to plan for something that wont happen for a number of years.
It goes without saying that businesses that have a succession (exit) strategy in place have a better chance of survival. So if you want to guarantee the success of your business over the long haul, now is the prefect time to start thinking about a succession plan that puts your company in good financial health when you eventually sell, move on or retire.
If you’re one of those people, then the first thing to ask yourself is: how long do you see yourself being involved in the business? Everyone’s answer will of course be different, but based on your individual circumstances and the state your business is in, here’s a loose guide:
Why is succession planning is important?
Creating a succession plan is all about ensuring your business is successful without you. It’s an important element of business planning, because businesses that don’t rely on one person or a departing owner’s knowledge, reputation and industry contracts, will be in a stronger position when inevitable changes happen.
2 YEARS
You’re a business owner with a strategic plan in place and your business in good shape.
There are several distinct outcomes that come form implementing a good succession plan. These include: an increased potential for impressive business growth, more protection from future business challenges, a retention of existing business relationships and, above all, a higher survival rate.
3 TO 4 YEARS
You’re a family business owner looking to leave your business sin the hands of a professional management team.
3 TO 5 YEARS
You’re a knowledge-based business owner and you need to impart your knowledge to future owners/managers.
Timing is key
When making any business decision, timing is always an important factor. And the same goes for succession planning. In most instances a succession plan should be implemented sooner rather than later. In fact, to ensure a smooth transition further
5 YEARS +
You’re a family business owner looking to pass your business on to the younger family members.
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Getting to the nitty gritty There are many different factors that need to be considered when implementing a succession plan. The length of time you devote to each process will vary depending on the complexity of your situation and how prepared you already are. In the meantime, here’s a quick guide:
PROCESS
TIME ALLOCATED
Goal setting
Up to three months
Your family
One to two months to work out how to best cater for the interests of your family.
Wealth accounting
One to two months to identify assets and liabilities, and consider allocation.
The business
Two months if your business is in good shape If this isn’t the case, allow: Three months to prepare a strategic plan Twelve to eighteen months to restructure a failing business One to two years to recruit and train professional management Two to three years to recruit and train professional management where the business depends on the knowledge and experience of the owner Three years or more to prepare family successors.
Your legacy
One month to consider the footprint you want to leave.
Your plan
One month for your plan to be finalised and documented .
Review
On an ongoing basis.
A good plan now will give your business many more good years
will have in the future to prepare a well formed plan that puts the interests of your business first.
Despite succession planning proving to increase business survival rates, a recent study from Harvard and Wharton Business School shows that only 47% of business owners have any kind of exit plan and few of those were formal ones. Some of the most common reasons for the procrastination include: not having enough time, not knowing where to start and it being too early think about it. It’s true that many business owners simply wind down their business when they’re ready to retire, but it’s also true that the more time you spend putting off the inevitable, the less time you
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So start thinking about your succession plan as soon as is feasible. Because, if you put in the hard yards now, you’ll be rewarded handsomely in the long run.
Would you like help to structure your business ready for sale so you can have the biggest payday of your life? If you answered YES, then simply email info@streetsmartmarketing.com.au or call 08 9201 2122, mention this article and RECEIVE A
FREE CONSULT WITH A STREETSMART CERTIFIED BUSINESS GROWTH CONSULTANT (VALUED AT $297).
To kick-start your business growth and profit today visit www.StreetSmartMarketing.com.au
10/04/2014 6:36:32 p.m.
KPI SCOREBOARD Why simple KPI Scorecard Software is the fastest and easiest ways to monitor – and improve - the performance of your business Most small businesses will track their sales or profits, but do not monitor other important areas, such as the number of new enquiries, product returns or credits, conversion rates, or whether their employees and customers are happy. By creating a unique one-page report at the click of a button, and using a simplified balanced scorecard methodology, KPI Scorecard is the fastest and easiest way to keep a close eye on all aspects of business performance. The software comes complete with an experienced video coach that offers advice, tips, and a step-by-step guide on how to complete each report. (It even congratulates you on a great performance and offers encouragement when things aren’t going so well!).
Save your business time and money
Using graph KPIs for viewing staff, senior management and investors, KPI Scorecard will help you prepare future business plans, implement new systems and analyse your business through non-financial KPIs. Here’s why dozens of Australian companies like Streetsmart are already tracking their business with this intelligent software.
It allows you to: n Set goals for your business that revolve around more than just sales or profits n Review your obstacles and successes n Set monthly action plans and initiatives n Agree on new sales, advertising, marketing and customer initiatives that you will you implement n Agree on product development, employee morale, employment and training type initiatives to be carried out in the following months n Define which areas of the business you should be cutting costs in n Assess which systems and processes you need to improve n Customise the software to suit your own organisation n Access planning templates and balanced scorecard pre drafted formats n Take advantage of bulk data-entry capabilities, so you can utilise previously collected data
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10/04/2014 6:36:32 p.m.
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www.CrackTheMillionaireCode.com.au StreetPress2014_Apr_MaySPRDS_STG4.indd 13
10/04/2014 6:36:33 p.m.
DISMISSAL
Navigating your way through
the employee dismissal minefield If you employ staff, you have a number of legal obligations to adhere to including staff health and safety, non-discrimination, superannuation, taxation and insurance. If you want to terminate an employee’s contract, you also have certain obligations to abide by.
If you want to terminate an employee’s contract, you also have certain obligations to abide by. If you do not, you could end up with an unfair dismal claim, be liable for hefty legal fees and significant compensation to an employee. Additionally, the mental stress and worry of having to deal with an investigation about how you treat your employees can be enormous.
A recent example of a costly lesson for an employer was the case against Linfox (a logistics company)1. Fair Work Australia ordered Linfox to reinstate a truckie after it sacked him upon discovering some derogatory posts on his personal Facebook page. The employee made some comments about his manager during an online chat with other Linfox employees – comments that the managers claimed were sexist and contained racial vilification. While Linfox thought the employee’s comments were “serious misconduct” and justification for dismissal, Fair Work Australia granted the unfair dismissal application because the employee argued he didn’t consider the comments to be public as his page had the highest level of privacy settings. One of the main reasons
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why Linfox lost the case was that they didn’t have a good social media policy and didn’t educate staff about the policy. As well as ordering his reinstatement, Linfox had to compensate the driver for lost wages. Another example is the case of an employee working for a wedding gown shop 2. She was fired, in part, for turning up to work late five separate times. She claimed unfair dismissal and, after investigation, Fair Work Australia said the employer didn’t have a case for instant dismissal. So, while the employer might have had good reasons to dismiss her, they didn’t do it fairly or provide her with an opportunity to change her behaviour after appropriate warnings. These examples demonstrate how easy it is to make a poor and costly decision when dismissing an employee. With the correct policies, training and performance management processes, these businesses might have saved themselves a lot of money and frustration.
Checklist for employers who want to protect themselves 1. Give all employees a position description. They set clear expectations for employees and enable you to evaluate their performance.
2. Give new employees a probationary period and explain
to them the performance management process during that time. Be aware, though, that during a probationary period an employee has the same Fair Work Act entitlements to paid annual leave, paid personal/carer’s leave and minimum notice periods as non-probationary employees. If you decide to dismiss an employee on probation or within the ‘minimum employment period’, 3 you should still ensure you are in a position to prove the reason for dismissal and show that it is a lawful reason.
3. Put policies and procedures in place that communicate
your expectations as an employer. Such policies and procedures should cover areas such as code of conduct, bullying and harassment, confidentiality, disciplinary procedures, dress code and social media. Write these policies so that your employees clearly understand who the policy applies to, when it applies and what will happen if an employee does not comply with the policy.
4. Conduct regular performance reviews and document these meetings carefully. This documentation can be used as evidence to justify a valid termination.
5. If you decide to dismiss an employee, first seek legal advice to ensure you are complying with your employer obligations.
The information contained within this document is general in nature and does not represent legal advice. If you require specific legal advice on a particular matter, you should contact a law firm or Workplace Relations Consultant. 1. Linfox Australia Pty Ltd v Glen Stutsel 2. Filomena Ceccarelli v Red Carpet Creations Pty Ltd T/A Red Pearl Couture 3. Under the Fair Work Act the minimum employment period is either 12 months (if you employ less than 15 employees) or 6 months (if you employ more than 15 employees). That is the case regardless of whether the employment contract includes a probationary or trial period.
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10/04/2014 6:36:34 p.m.
“The Great Man’s Effrontery to Fall Asleep in Front of an Audience and Turn Potential Embarrassment into Brilliance” THE Short-Cut to Copywriting Riches How often do you sharpen your marketing saw? You know what I mean – dedicated time to learn new techniques, to study the latest material, to re-visit older proven resources to refresh your knowledge and keep you focussed? In my line of work this is a constant, never-ending and darn stimulating process.
Here’s what I mean… I was re-listening to one of Dan Kennedy’s recordings recently and it got me thinking.
I’ll relate it as accurately as I can so apologies to Messrs Kennedy, Carlton and the late Gary Halbert, who many believe to be the greatest copywriter of the modern era, if I get some of the details wrong. The story began at Halbert’s live copywriting training in Florida. All three legends were on the stage for one of those hot seats.
An attendee was on stage with them and they were doing a makeover (imagine that… Halbert, Kennedy AND Carlton working on your marketing…). Apparently, as was his custom, Halbert had on stage his big recliner armchair. Kennedy and Carlton used stools. So the business owner was telling the three greats about his business and his market and his problem. Kennedy heard a noise and looked over at Halbert who was snoring. Stunned, he turned to Carlton and whispered, “Halbert’s asleep”.
Room full of people, a business owner on stage pouring his heart out and the great man nods off. Carlton leans over and whispers back, “Don’t worry about it.”
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Steve’s Favourite Copywriting Click #2 – “If/Then”
Kennedy then says when the business owner had finished Halbert shook himself awake like a big old hound getting up from a nap, walked to the blank flip chart and proceeded to map out brilliant campaign strategy for the business owner.
Many times a year I hear a common complaint… “I just don’t know how to start my copy”. Problem solved. Dial up the “If/then” click.
Kennedy went on to explain how he could get away with this. It’s simple he said…
It goes like this…
“CLICKS ON THE DIAL”
All copywriters have a series of proven techniques or “clicks” which they regularly use.
Dear Friend,
Suggest you do the same.
Let me explain…
Halbert simply listened to the start of the business owner’s problems, nodded off to let it seep into his subconscious and then went to his bank of “clicks” and selected the most appropriate for the market and task at hand. So thought it would be helpful to give you a quick summary of my 5 favourite “clicks”. I try and use these as often as possible for one simple reason… THEY WORK.
If you’ve ever stared at a blank screen and felt panic in the pit of your stomach as your deadline raced toward you, and if you’d like a proven way to get straight into writing your copy, then this could be the most important message you read this year. Ok, a quick example which needs a tweak but you get the idea. This gives you a formula to get started, namely… “If you’ve ever had this problem, then here’s a solution”. See it’s simple but powerful in that it cuts to the heart of the problem and gives you a framework to start your marketing message.
Steve’s Favourite Copywriting Click #1 – “Reasons Why” I LOVE this one… all you do is come up with a number and give it to them straight eg 7 Reasons Why Now is THE Time to X or 5 Reasons Why this is so Powerful.
Steve’s Favourite Copywriting Click #3 – “You Deserve”
And then you number each one and explain them.
This is very powerful for a number of reasons (or 5 Reasons why this is so powerful) Humans love lists – we’ve grown up with them
These are short sharp and allow you to summarise quickly, to really ram home your message
Dan Kennedy calls this a “copy hug”. Essentially, everyone believes they are engaged in an epic struggle. Think about it… we all do… So what you have to do is give your reader acknowledgment. If they don’t feel you “get” them, you’ll have an uphill battle converting them. Where possible I give the copy hug with the words… “You deserve”.
Human nature being what it is, we don’t like leaving things unfinished – so you present them with a list and they are VERY likely to read all of it
You deserve to be wealthy, happy, loved, thin, fit etc etc.
This is very powerful because it connects you and your solution to the reader. Just don’t overdo this one.
There is power is in the specificity 5 reasons... There are 5???? Cuts through the clutter/good for skim readers Helps them talk themselves into it Here’s an example...
5 Reasons to Book Your Move with TOTAL SERVICE MOVERS NOW… 1 C omplete, one stop, “all done for you” removal experience... GUARANTEED to NEVER break a thing – PLUS a cleaning service can be arranged if needed! 2 Home packing, moving, storage and unpacking experts… takes the stress out of these stressful moments! 3 Office and commercial removals... specialists for transporting furniture, equipment and files for businesses 4 No job too big or too small... 12 trucks ready to go, over 200 on-site insurance company approved storage units available, finance option available through FAI... 5 Go anywhere any time... national line haul service, truck or container, anywhere nationwide or worldwide!!
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To kick-start your business growth and profit today visit www.StreetSmartMarketing.com.au
10/04/2014 6:36:36 p.m.
Steve’s Favourite Copywriting Click #4 – “Final Thoughts”
This one is from the “Masters of Influence” event sales letter.
As you can see it gives you a chance to summarise your message. Because you use the subhead “Final Thoughts” (or “Last Thing” or a variation thereof) it draws in the skim readers with a final chance to convince them.
Number 2 gave you a way to get into your copy, this one gives you a powerful way to get “out” of your copy at the end of your message.
As in the example above, in this click you summarise your key point of points, the real reason they should ACT NOW on your offer.
It goes like this…
Steve’s Favourite Copywriting Click #5 – “Proven Headline Template” There are many ways to write a killer headline. When I’m stuck I go to this proven click.
A good headline must have these 4 elements… 1. What’s the BIG PROMISE?
2. What SPECIFICS are included?
3. Does it CALL OUT to the target market? 4. Is it UNIQUE?
If you answer “YES” to all 4, chances are you’ve got a winner. There you have it… 5 of my favourite “go to” clicks which are proven winners. See how many you can incorporate into your next piece of copy.
And remember, you don’t have to be a Gary Halbert, Dan Kennedy or John Carlton to make REALLY GOOD money with your marketing… you just need to be better than your competitors. These clicks on the dial will help you do just that. And they save you heaps of time to boot. Good luck! Steve Plummer
Copywriter and Marketing Strategist P.S If you’d like some FREE copywriting training, check out Steve’s and Mal’s website www. killercopywritingsecrets.com.au! Includes a 30 day free trial... download everything for nothing. No risk because you can cancel any time. It all starts with one month’s trial... you’ll be writing “killer” copy like a pro in no time!!! P.P.S. Sign up today and you could even get Steve to critique your latest piece of copy… for FREE!!
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10/04/2014 6:36:37 p.m.
“REVERED FUTURIST HARRY S. DENT AND US PRESIDENTIAL ADVISOR JOHN THOMAS WOWED ‘EM AT BUSINESS SCHOOL IN SYDNEY!”
Here’s what you missed if you couldn’t make it…
Two internationally acclaimed key note speakers Harry S Dent and John Thomas gave their respective takes on what going to happen in the next 12 months and beyond! Harry Dent, who’s predicted most of the major shifts in the economy over the last 25 years, revealed his latest research findings, including the industries likely to boom on the next 10 years. A particular highlight was the pre-dinner drinks Harry shared with members and Mal’s in-depth Q&A with him over dinner! John Thomas, whose claim to fame, apart from virtually inventing the hedge fund industry, is an independent advisor to President Barack Obama on international economic matters as well as to the US Treasury and House Minority Whip Nancy Pelosi. He also has consulting contracts with the governments of China, Singapore and Germany and… his private clients have enjoyed profits of up to 60% in 2013… he revealed where he predicts the Dow will climb to and why (all based on his “inside” knowledge of the workings of the US Government!!) Alex Mandossian - “No List Marketing” – commonly referred to as the Warren Buffet of the internet because nobody seems to lose money when they get involved with him. Live cross to the US allowed Alex to reveal how a bricks and mortar business can monetise the internet.
Mal Emery revealed his Ultimate Business Autonomy Blueprint that has allowed him to work with who he wants when he wants and charge what he wants – included The 10 Big Breakthroughs You Must Make if You Want Business Freedom Julie Mason, Australia’s “Social Media Princess” focussed in LinkedIn and how, with just a few tweaks you can DRAMATICALLY boost your response rate in a high energy hands-on workshop. One savvy member even made money overnight thanks to just one of Julie’s changes!!! Ian Marsh revealed the principles for creating and managing exponential growth in your business, including the ‘must have’ ingredients to ensure your company delivers the financial and lifestyle rewards that you deserve. Mark Selbst - Past owner of All Heads Reconditioning Services, which was recently sold for a multi-million dollar payout, Mark revealed the step-by-step process (including actual samples), he and partner Carl Smith used to take All Heads Reconditioning Services from a struggling business to complete and utter domination of their category.
Did you miss Sydney Business School, or would simply like to relive that great information shared. Then you can purchase the complete event on DVD.
Simon Bowen who works with the top end of town showed participants how to put the X Factor into their businesses – rare live training usually reserved for the corporate market! Steve Plummer - Web Copy Secrets were revealed in an internet focussed version of Steve’s ever-popular hands on “Copywriting Classroom” sessions – they saved the best for last!! Matt and Liz Raad - How to Flip Websites for Outrageous Profits… the latest version of the timeless “buy low, sell high” formula, for those who love online profit strategies. And yes it was presented in their no nonsense and easy to understand way. Pete Godfrey let rip about what it takes to make a sale today based on what’s working now. Warren Black showed the simple strategies the rich use to protect their wealth – his out of the box ideas had everyone thinking, “Have I got my structures right?”
NEXT BUSINESS SCHOOL is on The Gold Coast 8th, 9th and 10th of July at The Crowne Plaza, Surfers Paradise. MAKE SURE YOU REGISTER – SEATING IS LIMITED BY ROOM SIZE
To find our more email michael@streetsmartmarketing.com.au Need more customers? Streetsmart Marketing 19
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can help. Phone us on +61 8 9201 2122
10/04/2014 6:36:37 p.m.
SYSTEMISATION
Take it to the next level How to create systems and processes, so your business can become scalable and run independently
As a business owner you may well be satisfied with the size of your business right now. However, if you’re truly passionate about growing your business and making it a long-term success, then it’s important that you make it scalable – and put the processes in place, to ensure it can run independently when you’re not around. To start with, it’s important to understand whether your business is scalable in its current state. So, to begin with, ask yourself this: if you had an emergency, and had to be away from your business for a few days, could you easily ask someone to step in and run your company easily and confidently? If the answer is no, then it’s fair to say you need to set up some effective systems and processes.
You see, having detailed processes and procedures in place for every task in your business, means it can run totally independently, without you needing to be around.
Even better, these systems and processes can later be duplicated to create a real life copy of your existing set-up, allowing you to double your revenue, by establishing another office, franchise, or retail outlet that does it for you.
And the beauty of this is, once you’ve finetuned the process for creating a duplicate of your service, you can do it again and again. Think of it as having a sort of systems ‘bible’ which anyone can pick up at any time and by following each procedure, create the same outstanding results.
Here are 9 essential steps to creating that scalable business you’ve always dreamt of…
1
BE HONEST AND LOOK AT YOUR BUSINESS OBJECTIVELY
Whether you’re doing something new, or trying to do something better, faster, or cheaper, be honest with your self. Some ideas are scalable, some are simply not.
2
CREATE A ROBUST BUSINESS PLAN
Start by creating a business plan, which includes scalability at its core. And remember, a good scalable business should operate with high margins (over 50%), low support, and minimum staff.
3
KNOW THAT YOUR PRODUCT/ SERVICE IS VIABLE
No product, even with a massive potential, is ready to scale until you prove it works and has customers who are prepared to pay the full price. So be patient first and spend some time getting it right.
4
SURROUND YOURSELF WITH A RELIABLE TEAM If you are still spending most of your time working “in” your business,
rather than “on” your business, then you are not yet ready to scale. Think about hiring more staff that can do the day to day running of the business for you, so you don’t have to be all things to all people.
5
DON’T BE AFRAID TO OUTSOURCE
It would be silly to attempt to do everything in-house, because developing the right expertise you need can be slow and expensive. Part of effective scaling means calling on outside resources that can help you right NOW.
6
FOCUS ON AUTOMATION
A startup that is labour intensive is not scalable. So before you even think about scaling, think about how you can automate your product, by using proven process technologies, with minimum staff involvement. For instance, online project collaboration tools are an effective way to eliminate needless manhours spent at face-to-face meetings.
7
BE A MAGNET FOR INVESTOR FUNDING
By building a business that’s worth investing in, you’ll be creating something that investors are more likely to take on, and in the long run, are happy to use their experience and expertise to make it scalable.
8
THINK ABOUT FRANCHISING
Although the market might be highly competitive, partnering with your competitors is much more effective for scaling than trying to out-market them. Likewise, once you have a proven model, franchising will let you scale quickly, rather than trying to manage each individual location yourself.
9
BE MORE THAN A ONE-TRICK PONY
If you only offer one thing, the perception is your business won’t be scalable. That doesn’t mean trying to solve every one of your customers’ problems, but building a bulletproof strategy and plan that shows continuous innovation and leads to impressive growth in the future
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10/04/2014 6:36:38 p.m.
EVENTS The GREAT DEBATE between world leading economic figures gets personal - read on to see why everyone is STILL talking about Secure the Future Super Conference…
“You’re an ass#@%&”
They went at it like two heavyweights standing centre ring swinging until one man dropped… the venue was the “Platinum” lunch room and moderator Professor Alan Patching had his hands full. HOW DID IT COME TO THIS? The event started well enough, the 500+ in attendance receiving good value from what is arguably the best line-up of speakers seen under one roof in the last 5 years.
Revered futurist Harry S Dent headlined the bill and gave a detailed analysis of his latest research data. Attendees were shocked by his findings which included predictions for the sudden burst of the “China bubble” and how it will deeply impact Australia, the industries most likely to prosper over the next 10 years and where to (and not to) invest your money so you prosper in the looming downturn, likely to hit in the next several months. Which was good news because Roy McDonald then showed attendees the RIGHT path to riches today, the latest share market and forex trading strategies were covered by Andrew Baxter and Greg Secker, and Phil Anderson revealed how to get started in property with just $1 down!
All successful people agree that money is made in the mind first, long before it appears in your bank account. Australia’s “Mindset Master” Paul Blackburn walked the audience through the steps needed to get your thinking right so the money can flow.
This was the ideal lead-in to modern internet moguls Matt and Liz Raad who taught how to buy, build and flip websites for outrageous profits and continuing the internet theme the very entertaining Steve Essa showed just how easy it is to create and monetize webinars in just about any business. Mark Bouris, from the hit TV series The Apprentice, closed out the second day with his take on the immediate economic future of Australia, based on his 10 market-driven criteria.
And then there was the other keynote presenter, US Presidential Advisor John Thomas. If you haven’t heard of Mr Thomas before, his resume is impressive… apart from virtually inventing the hedge fund industry, he is an independent advisor to President Barack Obama on international economic matters as well as to the US Treasury and House Minority Whip Nancy Pelosi. He also has consulting contracts with the governments of China, Singapore 21
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and Germany and… his private clients have enjoyed profits of up to 60% in 2013… he revealed where he predicts the Dow will climb to and why (all based on his “inside” knowledge of the workings of the US Government!!).
AND HEREIN LAYS THE PROBLEM.
Harry Dent who has successfully predicted just about every major economic shift in the last 25 years (including the fall of Japan, boom of the 1990s and the 2007 global financial crisis) vehemently disagreed with John’s forecast for global recovery and riches. Demographics, said Harry, would ensure this did not happen. And over lunch in the Platinum room the two bulls went at it, pulled no punches in convincing each other of the merits of their argument until…
BANG!
“That” response leapt out… “You’re an ass%#&@”.
To see the “GREAT DEBATE” in full, uncut and uncensored please email your name and email to... info@streetsmartmarketing.com.au and we will send you the link directly.
To kick-start your business growth and profit today visit www.StreetSmartMarketing.com.au
10/04/2014 6:36:38 p.m.
CALCULATOR
Because You’re
Worth it!
Knowing what your business is valued at will give you the confidence to ask for a price that’s realistic and fair
Like any product or service, the fact is your business is only worth what people are willing to pay for it. For instance, one interested buyer might have a clearer understanding of the risks associated with taking on your business, while another may simply, on an emotional level, fall in love with everything your company stands for.
There are three common methodologies used for calculating the value of a business. #1 ASSET VALUATION When it comes to valuations, the assets of your business can be split into three distinct parts. These include: tangible assets (like your premises, the machinery you have and the vehicles you use), existing stock (including materials and supplies), plus intangible assets (covering exclusive contracts and patents).
#2 COST OF ENTRY COMPARISON Another valuation method used is a cost of entry comparison. Put simply, this method places a limit on the value of your business, based on what it would cost to start a comparative business from nothing, and achieve the same level of success.
This method takes more of a holistic approach to valuation as it analyses both tangible and intangible assets. Let’s say you estimate the buyer would need to allocate around $100,000 to get set up, plus around $10,000 in monthly overheads each #3 PRICE-EARNINGS RATIO VALUATION
Known as the P/E ratio, this method calculates your business worth by multiplying net profit to arrive at a projected value that is based potential future earnings.
With a lower potential for earnings, one industry’s P/E ratio could be quite low,
Intangible assets are the ‘non-physical’ elements of your business, which you’ve evolved over the years and have increased your perceived value – for instance a fantastic word-of-mouth reputation or a desirable brand.
If you don’t posses any intangible assets as such, then your business valuation will be based on tangible assets. By simply calculating the value of these assets minus debt, will give you your asset valuation figure. month for two years, before they get the business to the stage your one is at. On that basis, your business would be worth at least $340,000 to them.
Naturally, as part of the negotiation, any potential buyer will calculate their own cost of entry comparison, based on using the cheapest set-up and overhead options. In this instance, you’ll need to sit down and work out a price you are both happy with.
while another, such as a technology based business could be quite high. To find an accurate P/E ratio for your business and industry, it’s recommended you seek advice form relevant industry associations. As always, when valuing a business, you should consult a professional accountant or lawyer.
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10/04/2014 6:36:38 p.m.
HEARTBROKEN BUSINESS OWNER How this simple test could make you millions.
John sat in his office wondering how it could all have gone so horribly wrong. This is what it had come to. In his mind he started ticking off how much he could get for the various parts of the business… plant and equipment, the shed he’d borrowed to buy a few years back, the list of loyal customers. You see John, like many Baby Boomer business owners, had been trying to sell. Three long years, thousands wasted on marketing and four business brokers later his retirement plans were in tatters. What had made matters worse was a chance meeting which occurred recently. John met a business owner from the same industry at a social function. Craig was his name and he looked happy, relaxed and confident. When John got to talking to him, he found out why.
Annoying – less experience but a better result
Craig, who was two years younger but had 9 years less industry experience than John had recently cashed out and was looking forward to the next phase of his life. They hadn’t mentioned specifics but reading between the lines John was certain this younger bloke had just banked several million. What had irritated John, almost as much as the money, was that Craig was only on the market for a couple of months and had two choose between two red-hot buyers.
What had difference?
made
the
And as he sat there, that sick feeling in his stomach, he couldn’t help but think why it hadn’t worked out for him. It wasn’t skill. It wasn’t experience. And it
certainly wasn’t desire. John, like many Baby Boomer business owners is a victim of the perfect storm brewing in Australia right now… • 57% of business owners are expected to retire within 10 years • Only 17.1% of them have a succession plan • Just 15% of those on the market are able to close the sale (sources: CPA Australia, KPMG Family Business Survey)
Based upon simple economics - the Law of Supply and Demand – it is likely, as John discovered, the large number of businesses for sale will impact the sale value. We are seeing the start of an ultra-competitive buyer’s market.
The big payday
The question is, how do you turn a business like John’s, which has been making a solid $200,000 annual profit into a multi-million dollar payday. At best, if John could find a buyer he could expect to sell for a 1.5 multiple where he’d pocket $300,000, well short of the $1 million needed if you want to live on $50,000 per annum in retirement. Because their businesses were so similar, John couldn’t figure out how Craig had managed to sell for a multiple of 5 or 6 and achieve his multi-million dollar payday. You see both men had had started their businesses from scratch. Both had worked very hard and endured their share of sleepless nights. And both had provided excellent service to their loyal customers. What John didn’t know was that Craig had discovered how to make his business more attractive to buyers. Craig had fully
structured his operation so it ran on autopilot. He’d spent years developing the right systems so his business would be ready for sale when the right time and right selling opportunity presented itself.
What about you?
Is your business structured ready for sale? Have you got your retirement plans either partially or fully in place? Or are you hoping, a little like John did, the right buyer will just come along? All it takes is the RIGHT kind of action, like it did for Carl Smith and Mark Selbst from All Head Services in Melbourne: “A change in government regulations almost destroyed our business but thanks to the right guidance from Mal and the team at StreetSmart we doubled sales within 18 months and were putting on five new buying clients a week for a 91% growth in two years.” They have since cashed out for a massive payday!
Here’s what to do now
If you’d like to discover just how ready for sale your business is right now then as a service to business owners, for a short time, StreetSmart Marketing is offering a complimentary “Exit Readiness Survey”. All you have to do is contact StreetSmart Marketing using one of the four methods listed below and complete the survey. It only takes 3 minutes and you’ll receive a report of findings which shows you areas you need to work on to improve your chances, like Craig did, of structuring your business so it’s ready to give you your ultimate payday! Take the Survey NOW, it costs you nothing and comes without obligation. See below for details…
Avoid the heartbreak – take this simple test to see how you rate…
The complimentary “Exit Readiness Survey” takes just 3 minutes. Do it NOW using one of these methods…
1
2
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www.streetsmartmarketing.com.au/business-audit/
10/04/2014 6:36:39 p.m.
StreetSmart Marketing is a business success organisation that has been created by Mal Emery and Ian Marsh to provide a guaranteed mechanical process for entreprenuers and business owners to achieve financial and lifestyle freedom in three to five years or less. The processes that have been developed are a complete done for you business and marketing program that incorporates an educational process so that not only do Business owners receive the most powerful online and offline lead generation systems and conversion systems, but they are on a continuous journey of structuring their business ready for the ultimate buyer, within three to five years.
ph:
1800 896 410
www.streetsmartmarketing.com.au mail: PO Box 83 Mount Hawthorn WA 6915 StreetPress2014_Apr_MaySPRDS_STG4.indd 24
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10/04/2014 6:36:39 p.m.