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Zeeshan Pasha - CEO, Nifnex Linkedin: http://au.linkedin.com/in/zeeshanpasha Twitter: https://twitter.com/zeeshanpasha Hello Nifnex readers, Perth has just had an overwhelming number of events, expos and seminars in the past few weeks. We also have 4 big awards by Belmont BEC, Stirling Business Association & Malaga Districts Business Association on the 31st Oct and Armadale Awards on the 7th Nov. You may have even picked up this copy at one of these awards or one of the 150 hotspots we make this paper available at. Speaking of awards, we are so excited to be running the Influential 100 Awards again which had Perth businesses talking for months. These awards even won us the Best Marketing Initiative Award at CEBA Awards. Stay tuned for more info as we start our nomination and voting very soon. We have just re-launched our new Smart Phone App thanks to Glenn Heaton from Perth Local Marketing. It has some excellent features which will make reading our publications & articles easier and also help you listen
or watch our panel discussions via a podcast. We also felt a need to assist small business owners with one central place to find locations providing free Wi-Fi, meeting rooms, discounts & coupons to shop local. We have addressed four important topics in business, which are around courage, productivity, profitability, marketing & cash flow. The live panel discussions attracted a record number of people and the Q&A went longer than anticipated which shows how valuable these panel sessions are. Our next panel discussions are on the 7th Nov, themed around Planning, Taking Action, Evaluation & Celebration. The best way to put this in theory is a glass walk. Join us to hear the subject matter experts and get your questions answered. Should you be brave enough, try glass walking too? Please do send me your opinions and feedback from this edition as we endeavor to get better each day, week, month‌.
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Distribution: Monthly editions are distributed to 150 locations around Perth business suburbs. Cafes, Business Centres, Office Lobbies, business associations etc. Online: This edition is also emailed to the entire database and available on social media. Estimated Online and print Readership of over 44,000. Disclaimer: All articles, advertising, contributions and material supplied to Nifnex are opinions of the advertiser, contributor and author of the article/material. No responsibility is taken by Nifnex. Opinions published are not necessarily those of the editor.
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If you were at the live panel discussion for this topic, you would have realized the ease at which the three panel members addressed this topic. The questions didn’t stop flowing as we all realized how big and common this issue really is. The video is very informative & light hearted and definitely worth watching. Below is an extract and summary from the panel discussion between the Hament Chavda, Alicia Menkveld and Jamie Vine hosted by Zeeshan Pasha, Editor/CEO of Nifnex.
Alicia Menkveld
Hament Chavda
Jamie Vine
0425 177 897 alicia@designerlifetech.com Radical Consulting
1300262241 www.coach26.com.au Coach 26
08 6141 3100 jcv@libertyoffices.com.au Liberty Executive Offices
6 simple steps to address difficult conversations
Discover the 5 'constipating enemies' of Courage
The top 3 tips for ensuring you’re being courageous and not foolish
Alicia is well known for her inspirational talks & is referred to as the Courage Ambassador. Alicia addresses this discussion in the video by talking about her past role as a young HR manager where she needed to have difficult conversations with her staff around hygiene, showing up late to work, not reaching the KPI etc. Alicia says, the first step to having difficult conversations is to not let the problem fester. The problem generally doesn’t go away and usually gets bigger. The next step is the hamburger approach, (it’s not about appeasing the situation with food) but about building bridges. Acknowledge the good points first instead of jumping into the issue. Third point is to having solution focused, open and authentic conversation. Fourth point is to let the other person speak and make it a two way conversation. Fifth point is to have a clear head and work out for yourself, where is your fear and discomfort in this particular situation which will help you address the facts rather than emotions around it. Finally, listen and learn so you don’t end up in the same situation again.
Hament tells a great story about Tony Robbins and his words of wisdom when a gentleman from the side of the stage called out to Tony Robbins at his event asking for two things. One, he would like to get on that stage and secondly a picture with him. Having the courage to yell that out showed his courage.
Jamie Vine is the CEO of Liberty Executive Offices and is highly regarded in the business c o m m u n i t y. H a v i n g j u s t celebrated his 3rd birthday at Liberty, Jamie says that in a business environment there are a few questions everyone need to ask themselves to ensure they are being courageous not foolish.
Courage is the little steps that you take every single day, the decision to go into business, decision to having that conversation at work, with your team or with your partner may be, the decision to forgive and let go.
Firstly, he suggests everyone need to question their motives. Starting a business itself is a courageous step because you are leaving some kind of employment and regular income behind. Why are you doing what you are going to be doing?
Often people mistake courage for stepping up and having a fight like in the movies etc. Gandhi said, “The weak cannot forgive, forgiveness is the virtue of the strong” That’s what courage is about.
Ask yourself serious questions and be brave enough to answer the questions and leave the blue sky thinking out of it.
Limiting beliefs, fear, negative environments, distractions & procrastination are the five constipating enemies of courage. Hament goes through these in a little more detail in the video. Secret to success is to take massive determined action. What is that going to be for you?
Are you the expert you think you are? Know your limits and don’t try to do everything yourself. Outsourcing parts of what you do needs courage. May be the reason you haven’t outsourced because of cash flow but if you are serious about growing the business, seriously consider which part of the business you can hand over for someone else to do. This will ensure you have more time to focus on things that you are good at.
Send us your business challenges & we will get them addressed by an expert panel. nifnex@nifnex.com.au
04
Office 365, Exchange Online, tools that help you to collaborate from wherever you are, to share calendars and emails, talk to your colleagues, go from one computer to another; and have all your settings and files exactly where you had them – everything linked to your cloud account. Christmas break gives you time to think about strategies and the possibility to implement those changes within your organization and have minimum impact to your team. There are endless opportunities and even more questions every Business Owner has in mind. What most of our clients think of is whether those changes will bring them more profits, less headache and worries, and how it may impact their bottom line. Let’s just focus on one solution that lots of businesses have heard off but not everyone has taken advantage of it. Up until now. Emails. Why Exchange Online and how easy is it to migrate your emails to it?
Over the years I have found that many people are caught off-guard when it comes to how they should prepare before visiting with a financial plannerr, particularly for the first time. This is because they usually did not expect such a thorough instigation into their situation. So how should you prepare before visiting with a financial planner? How can you get great value from your Planner from the outset? Here are a few tips that should help you prepare for “that” dreaded visit with your adviser but more importantly put you in the best position to receive the advice that will follow and keep you ahead in the financial game! Tip 1. Tune in to your honesty, and
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I meet around 60 business owners a week and almost 90% of them admit that they are “POPing” or “iMAPing” their emails from some kind of server. Some don’t know where it is coming from. Some say they use GMAIL for their emails but they are not exactly sure what it is and how it works. Why and when do you need to change and why this is important? Calendar Sync. Your calendar and availability is extremely important. Being able to give access to your appointments and get someone to help and schedule the next one at the time you are going to be free is critical in todays’ busy business life. You could restrict access to your private appointments or get your team to only see appointments they have created. Email Access from anywhere. You no longer need to have different sets of folders on each computer. When you log in to your email via web browser you have access to the same folders you have across all of your devices. iPhone, iPad, Laptop or Office computers have the same email messages and folder structure including your send items. If you are required to archive every email that comes
not just a little. It’s irrelevant as to how long you have been planning to visit a planner the reality is if you are going you now realise that it is a must to visit with one. Therefore what your planner is hoping for is frankness and honesty. A piecemeal story of “what has been” or “what has not been” accomplished will only present more problems down your financial journey and your planner will not be able to provide the best service possible to you. Tip 2. Further to the above, as you need to explain what you are trying to accomplish and why, it is equally extremely important that you receive complete honesty from your planner. This will help you understand your planner and open the opportunity for the best program to be developed that will meet all financial objectives.
to your mailbox it is no longer a painful process. Set and forget, delete and don’t worry.
What do you need to do to minimize the cost and make the transition as smooth as possible?
If your computer crashes. You no longer need to re-create your set of folders, re-create the email rules you have been setting up for the last five years. The emails from your ex will always go to Deleted Items folder and autoresponder will send yet another reply that you are away from the country and have no plans to return. And of course you no longer need to worry about the backup of your emails.
- Make sure you have your own domain. Emails from restaurant@bigpond.com or mysuperbusiness@gmail.com aren’t considered as trustworthy. John@mysuperbusiness.com.au sound better as well as encourage your client to go and check your website. If you don’t have one you could set up a d o m a i n f r o m crazydomains.com.au or talk to your IT provider. Don’t worry about your existing email address. You could forward all of your emails from the existing provider to the new account without a need to let everybody know.
Why not GMAIL? Gmail has limited compatibility with Outlook, the program that most people chose over the other email programs. Why you need to do it during the Christmas break? Most businesses have quite a large number of emails and folders. If you have more than one person in the office you would probably need to migrate a lot of data to the email system. Whilst this process is pretty straight forward it will require some time to sync all of your emails between all of the devices. As well as you could have some spare time to test your new system and ask your IT guys all the necessary questions.
To help here ask for testimonials from similar clients - this will help build trust between the both of you. Tip 3. This may sound strange but you must be ready and open to talk about your finances. Whether you make a lot of money or only a modest income, whether you have a lot in savings or haven’t started yet, there are questions that must be answered to accomplish the end goal of financial security. Being vague about finances will only complicate the meeting and the outcomes. Tip 4. There is a saying I have come across and that is “If you want to succeed faster, you need to be prepared to make twice as many mistakes”, so be prepared to be wrong. Everyone wants to think that they have created a good
- If you have your own domain make sure you have noted your web hosting provider details. Generally, these are the people who set your website up. - Have the list of your staff member ready. The ones that you would need to give the email addresses to. The typical setup looks like: info@yoursuperbusiness.com.au the emails will go to all 5 people in the group. boss@yoursuperbusiness.com.au your own email address;
plan which was developed sufficiently and may only need a few tweaks to be perfect. But the reality is that this is a very rare circumstance.
Nick Shmakov Nick Shmakov is a Solution Architect and the Director of a Consultancy firm called Res-Q IT. He is passionate about music, being a piano player for 23 years. He transitioned from piano keyboard to the computer keyboard and qualified as the IT Engineer back in 2006. His team has helped hundreds of Businesses in WA and worked as the consultancy firm to Department of Health and Diabetes Australia. www.resqservice.com.au (08) 6555-6500 manager@yoursuperbusiness.c om.au – your fantastic manager. theotherimportantperson@your superbusiness.com.au – another team member. - Get your IT support all the above details and schedule the time over Christmas break to get this done! Wishing you all a smooth transition in to the New Year!
great and memorable experience that sees you progress towards achieving your goals sooner rather than later.
Please understand that this is not a personal battle between you and the planner. You need to see your planner as a guide, not a judge. By letting personal feelings get in the way may create a wall that the planner cannot break through. The best plans that I have been involved in are developed with a sense of cold logic and overall clear and pliable goal setting. As the financial landscape and economy is in a constant state of change using a financial planner is becoming even more a necessity not a luxury. I hope these tips help you prepare for a
Conrad Francis For a detailed and customized financial planning solution, contact Conrad Francis from Inspired Money at : 08 9301 2631 www.inspiredmoney.com.au License No: 234665
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Digital marketing seems to be the buzz word and although marketing online has a free component it is getting more complex by the day. Social media is free but now you need to pay for it to reach your audience. Newsletters are free to send online, but are they being read? The case study focused on digital marketing, social media and newsletter marketing and the fabulous panel addressed these topics very well in the video. Extract of which is below. Please do visit NifnexTV channel on YouTube for the full discussion.
Douglas Lim
Diann Bates
Rajab Karume
08 9200 4429 douglas.lim@alyka.com.au Alyka
08 9355 0600 www.creativefruition.com.au Creative Fruition
0434586087 RajabK@NeedlenHay.com Needle 'n' Hay
Where & How do I start using my social media?
Well planned newsletters to drive business growth
Douglas is the Cofounder of Alyka, which is a digital marketing agency based in Subiaco. Whilst helping customers get a digital presence, Doug also assists them in social media and getting traffic to the social media channels.
With 15 years of experience in the field of Marketing and Communication studio Diann suggests have historically been the foundation of any business’s marketing strategy whether internal, external or even communicating with stakeholders.
Deriving meaningful value & business growth through digital strategy
Doug suggests the first thing to do is to work out your target market / audience. Do you really need to be on Twitter, Facebook, LinkedIn, Instagram etc? There is no point being across all platforms if there is no real reason and just because it is a buzz word. You need to first work out your target market’s demographics etc and sites like www.quantcast.com can help you with that. If your target market is of a GenY demographic, you will need to be more aligned to Facebook for example and platforms that they use, and if your audience is professionals and B2B you must be focusing on Linkedin. Doug also suggests you need to have one unified consistent message throughout your content marketing channels.
Any marketing strategy needs to be cost effective and planning is the key. Make sure it is relevant & engaging to the target audience whilst positioning yourself as the go to people in your industry. Diann strongly says, consistency is king with newsletters so you need to stick to a schedule whether it is weekly, monthly or quarterly. So, would you put out a print or an html/online newsletter? According to Diann, Print newsletter statistically has a higher return on investment and although online newsletters are virtually free to send, they have a lower read rate. Finally, Diann says offering prizes and incentives to sign up and warns against anti-spam laws when sending newsletters especially when you buy lists. In the YouTube video on NifnexTV channel, Diann details nine things that you will want to have as content in your newsletter.
If you have been doing the same things over the past 5 years and have been successful, that’s fantastic, but the next 5 years may not be the same and will not be a replication of the past 5 years. Interconnectivity that the technology has brought is significantly changing how we do business now and how we will be doing business moving forward. Rajab gives a very good example in the video about how a French gentleman, Aristide Boucicaut came up with a transformative idea to introduce Le Bon Marché ("the good market"). The store was founded as a small shop in Paris during 1838, and was a fixed-price department store from about 1850. Instead of having indent retailer with no fixed prices, he put them as a collective. He introduced fixed pricing, display, catalogue, delivery and everything considered ‘normal’ now in a big mall that you visit. Rajab says, if you are not looking at a transformative engagement with your client, you will be doing what has already been done and you are expecting to getting a significant output from minimum input.
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“Whether you think you can or think you can't, you are probably right” Three years after launching Liberty Executive Offices, this quote still rings in my mind as a catalyst, a driving force that compelled me to take on a powerful duopoly in t h e serviced office sec or.
Our story began in early 2011, when I got a group of sophisticated investors to back me to start a serviced office business to take on Regus and Servcorp – the behemoth multinationals. Liberty Executive Offices launched in June 2011, at Allendale Square on St Georges Terrace. The plan was to open other premises in the CBD within the first year of operation, then expand to the East Coast and Asia within five years. My competitors publicly said we would fail. The challenge was set. When we opened our doors we had an almost immediate positive response.
Jamie Vine
Liberty Executive Offices was extremely
well-received, filling our premises quickly with very high levels of client loyalty. To quantify this, we have double the industry standard in client retention. The strong base enabled a second premises in the Perth CBD within 10 months of starting. Client orientation the key to success: When I started to develop the concept and put together a business plan I had to focus on the needs of our potential clients. I did some 'mystery shopping' with the serviced office providers here, who flippantly made it clear they were at capacity. Local competition was really complacent and understandably so given they were operating at 100 percent occupancy.
Last month's event featuring the cash-flow queen Tracey Loubser sharing her knowledge was received enthusiastically. For a dry topic Tracey is a dynamic speaker sharing unique knowledge taking any business to apply her attention to detail strategies to the next level. We had an overwhelming number of questions for our social media panel of Rajab Karume, Linda Liebe and Peter Butler. Attached photo from last month's meeting - members sharing business and pink being the colour of the evening. Our November event titled 'Know Your Mind… Know Your Business' is sure to be simply transformational for all those attending. Paul Counsel will present How an understanding of your mind's 'natural' cognitive preferences allows you to discover your hidden form of genius and whether or not you're in the right business model for your genius type. Be sure to not miss this event on Wed 12th November 6 - 9pm. http://outoftheboxbiz.com.au/events
My plan was to deliver service excellence and still compete strongly on price – and clearly it has worked.
Australia and into Asia. It's ambitious but, “Whether you think you can or think you can't, you are probably right”.
Next steps: We have an ambitious growth plan and we're progressing that steadily. We want to offer our services across
Some press coverage of Liberty's Launch and growth
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Cash flow is extremely important when running a business and the three panelists address this topic from various angles. Rueben Taylor from Business Wealth Educators shares his three practical strategies to get some cash flowing again in your business. Conrad Francis addresses the importance of insurance and how to fund it without affecting cashflow. Undeniably, cash comes from sales. Are you competing on price and think lowest price wins? Think again…Sue Findlay, addresses a strategies on how you can stand out of the crowd without having to compete on price.
Rueben Taylor
Sue Findlay
Conrad Francis 08 9301 2631 www.inspiredmoney.com.au Inspired Money
08 9468 0200
0417920149
www.BusinessWealthEducators.com.au
Suzanne.findlay@bidbuddy.net.au
Business Wealth Educators
Bid Buddy
3 quick strategies to increase your business Cash Flow.
How to present my value when pricing quotes & proposals
Rueben has been a business mentor and coach for the past 15 years and runs one of the most successful business communities in Perth.
Pricing is the most difficult part of preparing a proposal or tender. There is a myth that lowest price wins. Usually, a business doesn’t lose a tender because they were expensive. It’s just that they failed to position their value.
Cash flow is a critical topic for small business and looking at your balance sheet tells you what you have been doing with your cash. Is it stuck in sock, spent on assets, paying yourself or your debt etc. First place to look for cash is in your debtors list. Who owes you money that you can recover straight away. Second thing to do is to generate cash. The new cash generating opportunities are not always from new customers. What about the existing database of customers? People who you have already done business with? You may be sitting on a database which you haven’t communicated with for a little while. It is much easier to win an existing customer than a new one.
Comparing apples with apples, and not knowing one different from the other, its normal to go for the cheapest / lowest in price. If your product is a premium product, there are a few things you can do to create a gap and position yourself away from competition from price between the most comparable product/service to yours. Firstly, Show Value. You have to show your buyer a value, as opposed to its price and in presenting value to the customer, they are more likely to gravitate to a product they trust, because remember value also brings trust. Find out what your customers value. Give them some insight on your product/service. You can also use techniques like help them avoid a minefield, present business case demonstrating ROI, and also justify the purchase for example, long term lower running cost although higher upfront cost.
Finally, optimize what you are doing already. Look at your sales process for example. If you have quoted, how well have you followed them up or have you followed them up at all? Conversion rates can increase by 10-15% just by doing that one extra follow up.
Ultimately, it boils down to presenting a value and knowing what’s going to make your buyers eyes light up and draw a gap based on perception between what the two products can do.
The above three strategies will certainly get cash flowing again in your business.
Watch the video on YouTube for more indepth details on presenting a value.
How do I achieve the best investment and insurance o u t c o m e w i t h o u t compromising my cash flow? In most cases, you can’t retire until you have replaced your PAYG or income streams. So when you think about investing, When you are running your own business, and you can’t continue for whatever reason, it’s important to have insurances like key person insurance etc in place. It boils down to the priorities on how you use the money. Many people insure cars and equipment when they have financed yet, they don’t insure themselves, the person who is repaying the finance of those cars & equipment. Conrad agrees cash is king and hence also suggests business owners also look at deductibility and superannuation when looking at organizing your insurance. Contact Conrad Francis or your financial planner to get more clarity on how you could have yourself covered without effecting your cash flow. Watch the video on YouTube for more indepth details on presenting a value. License No: 234665
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08
No one wants to fail and everyone wants to succeed. Yet, most people are not where they want to be this time of year. In January you hear:“This year is going to be different. It's going to be huge or I won't let anything hold me back this year.” Sounds familiar? Then why do most people get to December exhausted after a year's efforts and looking back, realise that they haven't had nearly as many success stories as they've wanted? Not letting stuff hold you back are easier said than done. I believe that 3 main things hold people back:
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1. We don't believe that we can achieve what we really want 2. We don't write downwhat we want or have a laser focus on our goals 3. We don't have enough selfdiscipline to persist when the going gets tough. Most people consider themselves undeserving of greatness or unable to achieve truly great things in life or business. We're all built the same way, yet some change the world and others struggle to get off the couch. Do you truly believe in yourself and your abilities or do you believein your excuses more? Become like The Little Engine That Could in 2015, because if you think you can, you can and you will succeed!
The Small Business Development Corporation is pleased to announce the finalists in Western Australia's most prestigious regional business awards for 2014. Chosen from a diverse group of award-winning businesses, this year's finalists represent eight regions and cover seven award categories. Small Business Development Corporation CEO, Mr David Eaton, says the WA Regional Small Business Awards are a highlight of the small business calendar and provide an opportunity to showcase the best of the State's regional businesses. “Small business is a major contributor to the State's economic prosperity and this year's finalists are a terrific example of the high calibre of businesses servicing regional Western Australia,” Mr Eaton said. The winners will be announced at a gala presentation event at the Hyatt Regency Perth on Friday, 14 November, 2014. For details and tickets visit: smallbusiness.wa.gov.au
It takes courage to set big goals and it takes courage to stay focused and fight the fear that's holding you back. Most people think that they must first conquer fear before they can achieve their goals. I believe you set and write goals down, and then every small step you take towards your goal, will p u s h f e a r f u r t h e r a w a y. Competence builds confidence and confidence leads to action. Focussed action is the only thing that achieves goals in life. I'm guilty myself of having grand ideas and taking on too much at once. I've had to learn the hard way that the only way to make real progress is to define and contain my goals while working every day to achieve them.
Alicia Menkveld Focus and consistent effort coupled with belief are the only things that will get you there.As Thomas Edison said: “Genius is 1% inspiration and 99% perspiration.” Even if the goal is a far off at the moment, believe it's possible for you, have it clear in your mind and focus on attracting the right people and opportunities while chipping away at it daily. You have greatness within you, so let nothing hold you back in 2015!
Alicia Menkveld is an international, inspirational speaker and courage-builder who helps people and companies to be more courageous.She's an entrepreneur and co-authored a book called “In the Spirit of Abundance” with world class leaders such as Jack Canfield and B r i a n T r a c y . Join her FREE Program to Build More Courage + Confidence: www.66daysofcourage.com Keynotes and Training: Contact Alicia on 0425 177 897 or alicia@radicalconsulting.com.au
SOUTH WEST Koomal Dreaming, Yallingup Australind Veterinary Hospital Morries Anytime, Margaret River Southern Skydivers, Busselton West Australian Alternative Energy, Busselton Jarrah Grove Retreat, Rosa Glen Pick-a-WooWoo Publishing Group, Nannup Progress Physiotherapy/Physio Group South-West, Collie/Harvey
CATEGORY Aboriginal Business 11-20 Employees 11-20 Employees 5-10 Employees 5-10 Employees Home-based Business 0-4 Employees Small Business Achiever
PILBARA IBN Group, Port Hedland Gurrgura Pty Ltd, Roebourne Wrapped Creations, Karratha Beautylicious by Chelsea, Karratha
Aboriginal Business Aboriginal Business 0-4 Employees Small Business Achiever
KIMBERLEY Gooring Jimbila Contracting, Kununurra Kimberley Air Tours, Kununurra Subway Kununurra Abney Air Conditioning & Refrigeration Services, Kununurra Out of Reach Tree Services, Kununurra
Aboriginal Business 5-10 Employees Franchise Business Home-based Business Small Business Achiever
PEEL Mandurah Cruises & Gift Shop Confident Cashflows, Baldivis Wicked Dance Works, Mandurah
11-20 Employees Home-based Business 0-4 Employees
MID WEST Nufab Industries Pty Ltd, Dongara HoseXpress, Geraldton Bank of Queensland, Geraldton Natural Lash Beautique, Wandina
11-20 Employees 5-10 Employees Franchise Business Home-based Business
WHEATBELT Geoff Perkins Farm Machinery, Narrogin Merredin Panel & Paint Walkers Hill Vineyard, Lake Grace/Narrogin
11-20 Employees 5-10 Employees Small Business Achiever
GOLDFIELDS/ESPERANCE Lakes Electrical Distributors Goldfields Pink Lake IGA and Esperance Supa IGA Quest Yelverton, Kalgoorlie South East Agronomy Services, Esperance TV Financial Services & TV Financial Planning, Esperance Inspired Life Health Club, Kalgoorlie
11-20 Employees Franchise Business Franchise Business Home-based Business 0-4 Employees Small Business Achiever
GREAT SOUTHERN Jaguar Cabling, Albany Battery World, Albany HideAway Haven, Albany
5-10 Employees Franchise Business 0-4 Employees
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As Paul J. Meyer put it, Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort. The Panel discussion focused on whether if technology is actually increasing productivity and also how profitability links in. Below is an extract and summary of the video discussion with Chee Wong who specializes in time management, Brett Patten from Telstra Business Centre Morley & Dominique Engelter from William + Hughes Lawyers. video.
Chee Wong
Brett Patten
0423 267 517
08 9275 7451
chee.wong@expertmessaging.com.au
Expert Messaging Australia
Brett.Patten@vitagroup.com.au Telstra Business Centre; Morley
www.whlaw.com.au William + Hughes Commercial & Litigation Lawyers
Gain profitability by spending less time on email
Technology use to increase productivity
In a survey that went out to 350,000 business people conducted by Franklin Covey, the legacy of Stephen Covey author of The 7 Habits of Highly Successful People. Respondents admitted to spending 40% of their work time on unimportant tasks during their work time.
Making the assessment – Are we profitable and what are the risks of trading if we are not
Stats from the ACMA showed that businesses 47% of people in business are out on the road which is a huge percentage. It is important to get access to a lot of the information like emails that people live and breathe by, especially in manufacturing, real estate and when you have a mobile sales force.
The primary reason they were not able to focus on the important tasks is because they were distracted. Until one can master their own attention (or limit the distractions in their day) they will always be 40% off their best. Email and …. Increasingly social media are the primary distractions that we can easily address in our work life. Control it or you’ll be 40% off your best. It’s important to recognise that emailing and social media is not the problem, it’s our ability to use it appropriately. Happy emailing.
For example plumbers, are getting savvy in using technology and getting payment on the spot using a tablet instead of finishing their job, write out invoices, drive back to the office, submit it to the admin, send it to the customers etc which has saved them time and money. However, is technology scary for many small business owners? In today’s market, Brett says smart phones and tablets are out selling laptops or desktops and consumers love technology. End of the day, it’s about working out the business drivers and what technology to use to get more time back in the day and how it’s going to be more profitable for you. So it’s an easy transition from the old way of doing things (paper based) to 21st century way of doing things using apps, software and devices (technology based).
Dominique Engelter
08 9481 2040
The test as to whether a company is solvent or not is whether it can pay debts as and when they fall due. This is a “cash” test; not a “balance sheet” test. Sometimes a company can have a period of purely temporary illiquidity. In those circumstances the company may not be insolvent, but it is something that needs to be closely watched. If a company does not create and keep financial records that adequately summarise its financial position, it is presumed insolvent. That’s not a problem while everything is smooth sailing. It becomes an issue if down the line the business fails, the company goes under, and the question is asked as to when the company became insolvent for the purpose of the liquidator commencing recovery proceedings. The company may only have been struggling with its debts for 12 months but if it hasn’t kept financial records for 4 years the presumption will be that it’s been insolvent for 4 years. This matters in a number of ways. Firstly, it means the liquidator will be looking closely at any transactions going back to that earlier period. Transactions entered when a company was insolvent or bordering on insolvency can in some cases be unwound. Secondly, it increases the period over which the director may be personally liable for the debts the company has incurred. If a director causes the company to incur a debt at a time it is insolvent, he or she can be ordered by the Court to compensate the company the amount of this debt. These claims can be quite significant.
Send us your business challenges & we will get them addressed by an expert panel. nifnex@nifnex.com.au
10 Take everything you have heard about walking on hot burning coals and smash it into tiny little pieces while you entirely engage in the zen-like practice of glass walking. Walk barefoot on razor-sharp pieces of broken glass, committing every thought, experiencing every moment, tapping into your razor-sharp focus. Feared and revered, once the domain of mystics, martial artists and yogis, is now a tool to heighten selfawareness to develop your mind to be completely present in any situation. When we deliberately focus our minds on a single moment, we are able to achieve things we thought impossible.
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16 OCT – 15 NOV 2014
goals, purpose, health, finances, all require our attention and focus. When we learn to use our laser sharp focus on these things, we move to a place of absolute certainty. Join us at Nifnex Panel Discussions on Planning, Taking Action, Evaluate & Celebrate and if you are brave enough also experience Glass Walking for yourself. Visit: http://www.trybooking.com/GGMP 7th Nov 2014 2PM Crowne Plaza Perth
Furthermore, the relationships we are in, our
If you are a lady in a trade such as, electrician, beautician, hairdresser, carpenter, motor mechanic, personal concierge , cleaner, dog groomer, bookkeeper, hairdresser, plumber in fact any vocation 'Lady is a Trady' has just been launched and is coming to a suburb near you soon. It is a banner that women from all walks of life, passions and roles can gather under in
order to build and promote their business and share their passion. Founder Lisa Ravenscroft says, “Joining Lady is a Trady is about working the hours you want, managing time off around family commitments and being your own boss!” For more information, visit: www.ladyisatrady.com.au
16 OCT – 15 NOV 2014
LIFE in the computing cloud means less time spent wrestling with technology, and more time focusing on what your business does best. Moving to the cloud makes a whole lot of business sense, says Telstra Business Centre Manager Brett Patten. It removes the burden, and much of the cost, of looking after your IT infrastructure yourself. It unchains your staff from their desks so they can work from anywhere with a reliable Internet connection, making the most of new business opportunities and new markets. It can help
strengthen existing relationships, and throw open the doors to new ones. Brett says the cloud is a major shift in the way we think about technology.“Think about giant increases in storage capacity, and add to that the latest technology and security features,” he said.“Imagine you have a billion dollars to spend on It infrastructure. Moving to the cloud means you are able to get the benefits of that sort of investment.“Your business can shift from managing its own security and storage, to having access to the best security minds and processes in the business –with access to as much or as
It's well reported that more than 50% of Family-Owned Businesses (FOBs) fail within first five years of starting.
Asian countries and other less formal economies where the family is seen as the business.
These figures are extremely alarming for a few key reasons. Firstly, FOBs are prolific across the world a c c o u n t i n g f o r approximately 89% of all businesses in the USA and about 67% in Australia. Secondly, FOBs account for a significant contribution to their domestic economies and in the USA employ more than 60% of the workforce and reportedly account for up to 80% of new jobs. Although these figures are lower in Australia these patterns hold true throughout the world, and are even higher in certain
In my opinion the high level of FOB failure is most alarming because a large percentage of people that start their own business don't do so out of choice but rather out of necessity. As economies and industries expand and contract coupled to the pressures on large corporates to deliver short-term financial performance in everincreasingly competitive environments and increasing cost pressures conspire to put people out of formal employment. This phenomenon is being exacerbated by an aging population in some countries and the wave of Baby-Boomers rapidly approaching retirement age, many of whom have not adequately catered for their retirement.
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little capacity as you need.“No need for a crystal ball guess on what your IT needs will be next year.“And you could achieve cost savings of around 40 per cent over traditional IT models.” Find out more about clouds benefits by visiting Brett at Telstra Business Centre Morley
Telstra Business Centre Morley 7 Collier rd. Opposite Centro Galleria Morley 1300 822 327 http://telstrabusinessperth.com.au
In simple terms, the trick is to not fail. To achieve this requires a number of critical things, most notably that FOB owners and leaders firstly clearly understand what the key 'causes' of FOB failure are. There are a vast array of reasons FOBs fail, most notably family conflict, however most of these can be avoided or dealt with if the FOB owner or leader knows what to look for and how to address the problem, either before it occurs or once it has started to become a problem. For the purposes of this article
the next most important consideration is to ensure that your business is 'strategically ready', either to commence business as a start-up or to embark upon its next phase of development or chosen strategic path. So many business are doomed to failure from the getgo as they never had the essential key ingredients for success, or 'Critical Success Factors'. In closing I would like to draw the reader's attention to a simple, yet profound statement - “To be successful businesses require both leadership and
management. The two are very different functions and capabilities, seldom to be found in the same person.”
Doug Verley
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16 OCT – 15 NOV 2014
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The new era of banking has come to Malaga with the opening of the area's first Westpac Bank Now branch and business banking centre. The new site, the result of a $1.6 million investment, represents the latest in Westpac's new Bank Now branches featuring a Smart ATM lobby with a focus on self-service cash dispensing, automatic deposit-taking, coin-processing and notecounting facilities. Adam Hay, Bank Manager at Westpac Malaga, said the new features and 24 hour access will allow customers and small businesses to do their banking in the branch lobby whenever it suits them. “This Bank Now site is the first Westpac branch in Malaga, helping us to successfully serve local customers while adding to our current branch portfolio in surrounding suburbs including Dianella, Morley a n d Wa n n e r o o . " O u r customers lead increasingly busy lives so they require quick and easy-to-use digital services. They don't want to queue or wait for someone to serve them in order to deposit or withdraw money. "That's why we have i n s t a l l e d S m a r t AT M machines which offer this style of transactional banking which frees up the staff to help our customers with more complex financial needs."
Following a series of Bank Now refurbishments at Westpac branches around the state, Westpac Malaga is the first newly built Bank Now branch in Western Australia, putting the area at the forefront of a $200 million dollar-plus three year investment program which harnesses the rapidly developing word of digital banking with a new approach to face-to-face service. Unlike a traditional bank branch, the new Malaga Bank Now has a clean, openplan lay-out with a lounge-style area for customers to use tablets
to do their digital banking. The new branch design replaces the glass screens and counters that use to separate customers from staff and which allows Westpac's specialist bankers to offer tailored advice on financial needs such as home loans, insurance, wealth and financial planning and superannuation. The branch will also be among the first in the country to offer Westpac's new and fast Connect Now advice service, designed for small and medium enterprise customers who are looking for specialist banking advice on
equipment finance, working capital, complex payment solutions, foreign exchange, SMSFs, transactional banking, wealth and financial planning.
George Pavisich, Westpac's Regional General Manager for Commercial Banking in the Malaga Region said customers feedback since the centre opened suggests that the investment in the area has well and truly paid off for existing and new customers. "Malaga represents the next stage in the revolution of
banking services where we aim to help people with all of their financial needs when, where and how they want. “We are the only bank in the area to have a combined branch and business centre in the one location. Located at the rear of the Bank Now branch, our dedicated Business Banking Centre gives consumers and small businesses an all-in-one offering for their varying financial needs.”
Westpac Malaga is located at 9 Bonner Drive, Malaga.
16 OCT – 15 NOV 2014
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- By Patrick Green
On Friday 24th October 2014 the startup community in Perth came together at the Whipper Snapper Distillery in East Perth to fraternise with alcohol and celebrate the community with a festival style event called S t a r t u p W e s t (StartupWest.org.au). Over 150 people from all around the startup community attended the event, which was opened by the Rt Honourable the Lord Mayor Lisa-M. Scaffidi, who expressed her strong personal support for the startup community in Perth. Timed to coincide with the national #StartupAus
Soon to be launched, eKarma.com.au is a unique and innovative social enterprise which will use the eCommerce growth and opportunity in Australia to support and raise funds for registered charities. eKarma is a social enterprise project started by a group of P e r t h - WA b a s e d entrepreneurs who believe in the principal of Karma and Giving-it Forward. While eKarma.com.au will
Startup Spring event, Startup West was organised by a collective of Perth co-working spaces, meetup group organisers and //Startup News. The group plans to hold a similar event next year.
Justin Davies (prezentt.com) MC'd the night, and Sam Birmingham (Pollenizer), Brodie McCulloch (Spacecubed) and Mikey Kailis () spoke about their experiences in the startup community over the past few years.
Six local startups pitched their ideas during the event, all Perth startups who are launching their businesses at the time of the event:
be officially launched early next year the team are about to prelaunch a special 'Christmas eKarma Project' in the coming weeks. Since Christmas is the 'Season of Giving' eKarma is looking for business owners and companies who would like to come forward and give products and services which would be sold online via eKarma.com.au During this prelaunch phase 80% of the revenue generated will be donated directly to registered charities nominated
- Estelle Olivera of Eternal Eve - Nick Van Den Berg of Simply Wall St - B e n T h o m a s o f Vi n e Collective - Robbie Adams of Mobilyser - Blaise Thomas of Total Pets - Jon Cahill of Orowa In keeping with the startup theme, there were festival food providers Ole Paella and Jumplings putting on some great belly fillers, along with a host of locally produced beverages like Crazy Uncle Moonshine, Castelli Estate Wines, Feral Brewery Beer and Core Ciders that helped keep the party atmosphere running high. The event was sponsored by Elance/oDesk and Beacham group, as well as a range of local community organisations and startups
by the businesses donating and by the buyers with the remaining balance of 20% used to bootstrap the next phase of this social enterprise project. This truly will be a win-win project. If you are or know a business owner from WA who is an avid supporter of a specific charity or cause and believes in Karma and giving-it forward please register on eKarma.com.au so we can keep you up to date on news of the project’s progress. So lets do eKarma...
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16 OCT – 15 NOV 2014
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Hament Chavda In December 2013 we made the decision to purchase an iconic (in its heyday) business that had averaged over the last 30 years. A decision literally made in a 'light bulb' moment of clarity early one morning. In the past I planned everything. I would write out the business plan, did the cash flow, found the builder, searched for the best IT system and so on. Having started many businesses since the age of 26, the experiences had started to add what I call the 'wiz' to my 'dom'! Its always easier to do something better the next time around when you've already been there. The wiz I'm referring to is the wiz in 'wisdom' - the cash of life experiences. Taking action and evaluating is a more powerful process of
upgrading your software and increasing your luck. Luck by definition is when preparation meets opportunity. We are preparing all the time. The separation of planning then looking to take the next step doesn't always work out. With the goal to transform Natures Harvest into a health destination, we started to find others who had already taken the journey before us. On our first reconnaissance trip to Perth CBD we came across 'The Lunch Box', a high-end yet fast service food business. I recognized the owner Troy Nguyen a pharmacist who had changed his career path. Although the concept was not the same, the workmanship and results were to the standards we were aspiring to. Troy shared his 2 years of experience in 10 m i n u t e s . We w e r e n o w connected to people who delivered the results we aspired to with a list of what Troy would do differently next time! There are two options in business, plan yourself and make the mistakes to learn for next time or find people who have been there and ask them to share the wiz. When we hire
coaches, lawyers, accountants, IT experts they can save us much time and money. The key is to hire people not through trust alone but trust on merit. You see, feel, hear their results and then know that they have been or helped others arrive at similar destinations to where you plan to go. So how do we bank the wiz? Or put another way, how often do you upgrade your software? Studies show that the brain in a curious state will find a way. Questions are a command for the unconscious mind to search for the answers to your quest. The whole purpose of planning is to prevent problems but what if problems were there to help us grow and bring out our true potential? What if it's not only about the goal but who you become in the pursuit of the goal?
The five questions that bank the wiz: 1. What am I grateful for about this week? What was magic? (Mining the wiz and focusing on the gifts of the experience) 2. What did I learn? (This is the wiz) 3. What would I do differently? (This is how to re invest the wiz for even better returns in the future) 4. What specific actions will I take to integrate these learning's? (Actually
Nike knows the power of 'just do it'! Even Sir Richard Branson told a room full of MBAs, undergraduates and high school grads not to waste money on business degrees and that success was far tougher to teach at university? He was referring to too much planning and no action.
By Denise Bradley The deadline for the first quarter's (July to September) BAS (Business Activity Statements) was the 25th October 2014 unless you use a 'Registered Tax Agent' to lodge your return, in which case the lodgement deadline may be the 25th November 2014. Check with your Accountant or Registered Tax Agent if you are unsure about your circumstances, or give Charter Financial Services a call for more information. If you are breathing a sigh of relief with this news, because you missed the 25th October deadline it probably means that you need help with your business's finances. Not because you
are late with your tax reporting, but it means you may have dropped the ball when it comes having your finger on the pulse of your business. If you haven't seen that familiar pink form in the mail, you could be right. You may no longer receive a paper activity statement if you've lodged your activity statement using the Business Portal, Standard Business Reporting (SBR), or electronic commerce interface (ECI) since July 2014, which is the case if your 'Registered Tax Agent' has lodged for you. According to the ATO they are doing their bit for Australia's carbon footprint and are moving some of their forms online. “This means that you can now
access the interactive GST calculation worksheet for BAS online as we won't include it in the paper BAS mail-out. You can then print and keep this worksheet for your records. Moving the form online means that we can cut our paper usage by 7,200,000 sheets each year, saving Australian taxpayers almost $136,000 a year.” The ATO also encourage you to lodge your BAS online using: - the Business Portal, and - Standard business reporting (SBR). If you lodge your activity statement through a registered agent, we encourage you to discuss this change with them to determine how to manage your activity statements in the future.
Top Three Tips for October Finances; Know your numbers. Keep your debtors down and creditors under control. Get help to improve your profitability. Manage your cash flow so you don't get caught short and have the capacity for growth. Run and read reports; financial, sales and / or manufacturing. Set realistic key performance indicators (KPI's) and measure your results. Don't wait until it's too late to fix a problem. Taxation; Are you getting all the eligible deductions possible? Are you planning for growth ? If you are not up to date with the ATO get help from a good Bookkeeper and Accountant.
investing the wiz instead of sitting on the wiz doing nothing) 5. Who will I share this with? (Reinforce your learning's by sharing the wiz with others? When Troy shared his experiences with us it made a huge difference in our lives. What legacy will you inspire for others to follow?) Most important remember to celebrate the wiz!! You can see the transformation yourself at Natures Harvest, 20 Napoleon Street, Cottesloe.
16 OCT – 15 NOV 2014
mobility that technology offers
what you are working on and
ambassadors will be talking
us to be contactable anywhere
who you would like to meet.
about you and networking for
and everywhere …. whilst we
You just never know who they
you.
wait for that ONE call or email
know!
from that ONE client who will
Zeeshan Pasha, CEO, Nifnex In reality, it is a lot of hard work, I remember when I handed
lot of patience, lot of positivity,
my company car keys back
enormous number of
and packed up my desk
conversations, collaborations
because I had made that BIG
and bit more money than initially
decision of wanting to run
anticipated.
my own business, be my own boss, be a millionaire in a couple of years and the business idea I was working on secretly for a while (outside of business hours ofcourse) was just exactly what the market was craving for … little did I know that the online employment
3) Don’t be fixated on your idea.
about your business and plans.
Be flexible but have an end
Not everyone is. It will bore
In all honesty, irrespective of the
goal in mind. Ask yourself the
them. So, don’t make that a
dire straights we are in and think
big WHY. Why are you doing
topic of conversation every
a hundred times before we buy a
what you are doing?
single time. Listen, ask and
decent meal for ourselves, it’s the feeling of jubilance and conquering the world that we get when that ONE ‘client’ says
Ofcourse none of us have a
a nod, a smile suggesting that our
crystal ball and thank goodness
idea has wings. Those wings are
we don’t, because if we really
larger than the wings of a Boeing
knew it will take us through all
707. How big are the wings of a
those tears, hardship, debt, I
Boeing 707? I am not sure but
wonder how many of us would
you get my point.
still say, I don’t care “I will still
Having worked with hundreds of
do it!”
entrepreneurs over the years, and having had conversation with
4) Just be YOU, have fun and enjoy the journey along the way. 5) Be open to feedback and don’t treat it as criticism. Not
engage with others and their lives. 11) Don’t always think offering your service for FREE is the magic formula. It isn’t.
everyone knows your big plan
12) Stop making big plans and
so not all advice is relevant;
hopping from one plan to the
however, it pays to reflect on
other. Implementation is the
it.
key with quick decisions. See
6) C e l e b r a t e e v e r y s m a l l
your idea through.
success. It’s the best way to
The mantra needs to be… DO
stay positive and take you
IT! TAKE ACTION! Doesn't
through to the next stage.
matter if you don’t know how to
How many entrepreneurs do we
many successful ones, let me
7) Build your personal brand
transform into a unique
meet who say, I don’t need much
share with you 10 things an
along the way. Present on your
award winning business
to live on. As long as I can just
entrepreneur can reflect on to
topic regularly even if it is a
newspaper and steaming
make ends meet for a little bit
expedite their journey to
small group.
ahead to launch in 18 cities
longer, I will then be living my
success.
around the world.
dream, floating in money and
But like any other start up
creating was going to
10) You are definitely passionate
give us that ONE break.
‘YES’ or even shows a glimpse,
agency platform I was
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do it, just take the next step and believe me, you will make it happen.
8) You don’t always need to be
You are an Entrepreneur. You
1) Educate yourself constantly
completely ready to launch.
will find solutions along the
sailing on my yacht!
and don’t ever think you know
Procrastination is just an
way.
business owner, I knew all it
I love that positivity amongst us
it all! Engage someone to
excuse. The right time you are
No stars and planets need to be
needed was a little bit of
entrepreneurs. I also love the age
guide you in their area of
waiting for in Now!
aligned perfectly and there is no
work, a little bit of patience,
we live in with easy access to
specialty.
positivity, contacts and may
inspirational Ted Talks and
be a few dollars ...
motivational videos and
9) Create a following, well
such thing as right time to make
2) Carry yourself professionally.
wishers who become your
it happen. Of course, there is a
Let people you meet know
ambassadors. These
fine line between being optimistic and being stupid … you will know if you are being realistic. If it feels right, take that step forward. Ask the universe to help you. I know that sounds insane, then again you are the same person who thought you know it all. Zeeshan Pasha is the Founder & CEO of Nifnex and is a strong advocate of Personal Branding. Based in Perth, Australia he has created a strong brand within the small to medium sized business market and is taking it global.
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This is the 2nd year of Influential 100 awards to acknowledge the leaders and influencers within Perth’s small business community who are giving it their best, helping the business community and assisting others grow. Their efforts are usually not recognized and this event creates an opportunity for us to nominate and vote for them.
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16 OCT – 15 NOV 2014
Save the date: 27th Feb 2015 It is a gala seated 3 course dinner & drinks event with 300+ attendees from the business community, leaders of associations, chambers of commerce, small business centres, networking organisations and some of the most well connected individuals.