Nifnex Perth's 100 Most Influential Edition

Small Business Newspaper www.nifnex.com.au

16 APR – 15 MAY 2014

Photocredit- Lighthouse Photography

Inside this edition....

SIX BUSINESS CHALLENGES SOLVED

WHAT IS YOUR TIME WORTH?...pg 03

HOW TO START A BUSINESS...pg 11

IDENTIFYING QUALITY LEADS AND CLIENTS...pg 05

HOW TO PLAN YOUR MARKETING DOLLARS & RETURN ON INVESTMENT...pg 13

WEARING TOO MANY HATS IN YOUR BUSINESS?...pg 07

THE FINE PRINT FOR YOUR BUSINESS...pg 15

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MESSAGE from the CEO Zeeshan Pasha - CEO, Nifnex contact via : Linkedin: http://au.linkedin.com/in/zeeshanpasha Twitter: https://twitter.com/zeeshanpasha

C O N TA C T

I was at a business forum and asked a room full of small business owners about the challenges and issues they face regularly. The responses were so spontaneous and synonymous that we decided to address them with our Expert Panel in this edition and Nifnex TV. One of the 6 discussions at length is about what your time is actually worth and the discussion leads into time taken at coffee meetings with clients.

We also have interesting discussions about finding quality leads, business owners who juggle too many roles in their businesses, Return on Investment on marketing dollars, T&Cs and also how to start a business.

Acknowledging the fact that people

not only read, we have filmed these discussions and made them available on YouTube (NifnexTV). Please also feel free to interact on these topics via social media and on our website under each case study.

On 1st April, we had a balloon event where the business community wrote their fears on balloons which we collectively popped in the presence of The Hon. Lord Mayor, Lisa Scaffidi.

The Courage Builder, Alicia Menkveld shared a few words of courage with Perth City as a backdrop at HLB Mann Judd's office. Don't miss the pictures on Page 10!

We have some very important and useful industry updates from industry leaders and also various business

associations, chambers of commerce and small business centres.

Page 14 has useful business tips from exhibitors at Gosnells South East Metro Business Expo.

Please do feel free to send us any business challenges you face, so we can address them with the Expert Panel.We are working towards filming the discussions with a LIVE audience soon. Please do subscribe via our website to stay tuned with latest developments and event announcements.

Looking forward to your feedback.

Enjoy reading this edition!

Advertising Enquiries and Media Relations Email: nifnex@nifnex.com.au Tel: 1300 643 639

Address: 45 St Georges Tce, Perth WA 6000 Postal Address: PO Box 1186, Technology Park Bentley DC, WA 6983

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.

UPDATE: MALAGA & DISTRICTS BUSINESS ASSOCIATION

INDEX WHAT IS YOUR TIME WORTH?

UPDATE : FREMANTLE CHAMBER OF COMMERCE

page 03

page 07

PERTH'S JOB MARKET UPDATE Exclusive Interview With Deanne Tindale

INFLUENTIAL 100 AWARDS FEATURE

page 12

HOW TO PLAN YOUR MARKETING DOLLARS page 13 & RETURN ON INVESTMENT

page 08-09

page 04

INDUSTRY UPDATE: SMEs ARE RESPONDING TO GLOBALIZATION

- Tim Milsom, CEO

page 13

- Andrew Christopher

CHANGES TO CREDIT REPORTING IN AUSTRALIA

page 04

- Natalie Walker

3 FEARS THAT SCARE SMALL BUSINESS OWNERS TO DEATH - Alicia Menkveld FREMANTLE COMES ALIVE WITH LIVE MUSIC

page 10 page 04

- Elicia Petite

HOW TO START A BUSINESS

page 11

BUSINESS TIPS FROM EXHIBITORS BUSINESS EXPO SOUTH EAST METRO

IDENTIFYING QUALITY LEADS AND CLIENTS

page 05

UPDATES FROM BUSINESS ASSOCIATIONS

page 06

WEARING TOO MANY HATS IN YOUR BUSINESS?

BUSINESS CONFIDENCE IS RISING

page 11

Perth Serviced Offices Update By Jamie Vine

page 14

THE FINE PRINT FOR YOUR BUSINESS

page 15

FIND YOUR VOICE & USE IT

page 15

- Stephanie Chan

page 07

3 BIGGEST MARKETING MISTAKES BUSINESSES MAKE

page 12

INFLUENTIAL 100 AWARDS WINNERS

page 16

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WHAT IS YOUR TIME WORTH? SOLUTIONS BY THE PANEL OF EXPERTS Expertise: Digital Media

Expertise: Marketing CLICK TO WATCH THIS CASE STUDY DISCUSSION For a detailed and customized Marketing solution, contact Alicia Menkveld from Radical Consulting on 0425 177 897 alicia@designerlifetech.com

For a detailed and customized digital media solution, contact Rajab Karume from NeedlenHay at 0434586087 RajabK@NeedlenHay.com Rajab Karume

Alicia Menkveld

Services vs. Products The framing of this question presumes the provision of professional services rather than physical goods.

Business success depends on pricing your products and services at the right price and there isn't one pricing strategy that suits all types of products, businesses or markets.

As a service, the focus should be on the value delivery to the market. Diverging from conventional wisdom on this subject, my view point is that tangibility is inversely proportional to value i.e. the more tangible an output is, the less value it has in comparison to value delivered by a corresponding intangible output.

Eg: Say we have a mining contractor business (business A) with a significant portion of its multimillion dollar valuation tied to its capacity, heavy duty mining equipment assets. Business A was subcontracted to the recentlycollapsed Forge Construction Group. In comes a professional service business that delivers Business A advice that keeps it from being dragged down by its Forge association. What is the value of this intangible service/advice?

And yes, there are strategic decisions that could have been made by Forge Group subcontracting businesses and these decisions may have buffered those businesses from their Forge Group financial dependency.

Function over Form By asking how much to charge its clients, the business owner admits that he is not in tune with his target market.

Pricing is conventionally based on the costs that a provider incurs in delivering a service, plus the margin that they wish to make in the process. Alternatively, a service provider may set their prices based on the prevailing market rates.

In today's market, this function over form business model, widely adopted and accepted in the business world, is the Achilles heel for these businesses.

Tips to the question 1. Do you want to be a market leader?

2. Do you aim for your business's survival or are you after a thriving business?

3. How well do you know your market?

4. Are you concentrating and chasing function over form?

http://goo.gl/rux2Hd

4 Key Factors to Pricing Products/Services: - Know Your Customer : Do market research to get to know your customer. Are they budget sensitive, focussed on convenience or is status important to them? Figure out which segment you're targeting and price accordingly.

- Know Your Costs : Know the actual product costs and the number you need to sell to turn a profit.

The cost of a product is more than the literal cost of the item; it includes overhead costs, marketing and sales costs too.

- Know Your Competition : Like your customers, look at your competition. How do their products compare to yours? Competitive pricing can be used as an initial gauge but find additional value in your product. Do you offer additional services or is your perceived quality higher than theirs?

watch or read

- Have a Pricing Plan : Have a pricing plan that extends 3-6 months in the future. You owe it to yourself and your business to be relentless in managing and tweaking your product pricing.

Under-pricing can be detrimental to your offering and brand, especially if you are trying to build a premium brand, as customers often infer quality from price.

Ensure you turn a profit in 2014 by charging your products and services' worth.

Send us your business challenges & we will get them addressed by an expert panel. nifnex@nifnex.com.au

solutions to all 6 case studies in this edition

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UPDATE : FREMANTLE CHAMBER OF COMMERCE March has been a very busy month, with The Chamber organizing an Indonesian Festival at Bathers Beach, which attracted many thousands of visitors to the area. The Indonesians put on a great show of song and dance and showed us many facets of their culture. It was a great event and one we hope to hold annually.

We hosted a number of Business 'After-Hours' in conjunction with Plantagenet Wines and Two Feet and a Heartbeat, as well as a

In March 2014, new laws came into effect in Australia, changing credit reporting by providing more data about individual credit histories. The new laws move away from a negative reporting structure and provide instead, comprehensive credit data.

This change is good for businesses extending credit.

Businesses will now have more accurate information on how to assess risk when it comes to lending money. This information will be reported more frequently, giving businesses increased confidence when they extend credit.

Under previous laws, only negative information can be collected about a creditor. The new laws include five new fields of data that will be collected and shared: - Payment history for the account - Current limit of account - When an account was opened

fundraiser on board the Duyfken, which was well attended.

The Queen Mary 11 visited Fremantle on two occasions during March and The Chamber hosted an indigenous welcome where four traditional aboriginals played didgeridoos and clap sticks to a very enthusiast audience on board the Queen Mary 11.

The Chamber hosted a number of Business lunches, one of

- Type of credit account · When an account was closed By providing this additional information, businesses can begin to understand the individual's patterns regarding debts. If payment histories are largely positive, a creditor may feel more comfortable about lending money to the business and directors.

In addition, creditors are likely to identify credit stress quicker than before.

which was hosted by Rottnest Island Authority alongside the Rottnest Lodge and Rottnest Express, who kindly subsidized the cost of the ferry.

We held our first ever Golf day, which was a well-attended event and a great day out.

Guest speakers, Adam Gilchrist (former Australian wicketkeeper) and Entrepreneur of the Year, Frank Wilson from TFS will speak at a breakfast seminar at the Esplanade Hotel in

Fremantle on May 1st.

The Chamber is growing and becoming more and more relevant to the business community. Join us to expand your business contacts and have fun. Come and use our free training and learn more about the fantastic services we provide to the business community.

Together, we are a powerful influence on Perth's and Fremantle's economic development.

Tim Milsom, CEO

CHANGES TO CREDIT REPORTING IN AUSTRALIA

The effects of enhanced credit reporting remains to be seen but CCR legislation will almost certainly have a positive impact on consumer spending. As more individuals have access to credit and businesses are more confident about lending money, the economy will benefit. There are restrictions to accessing and storing this information and businesses should be aware about the recent changes to the Privacy Act as well.

Debt Collection with Natalie Walker

Natalie Walker

Blitz Credit Management is an innovative and technology driven debt collection agency. Formed in 2010, the company has grown rapidly to become one of Australia's leading debt collection agencies. Blitz Credit Management provides commercial and consumer debt collection and credit management services to businesses across Australia. For more information, visit www.blitzcredit.com.au or call Natalie Walker, Managing Director, on (08) 6140 2584.

FREMANTLE COMES ALIVE WITH LIVE MUSIC What makes Fremantle so unique and how important is the live music industry to this uniqueness??

Popular opinion over the past years had deemed Fremantle to be 'dying' when what we are now seeing evolving (thanks to the dedication of many key groups, businesses and individuals) is a new, dynamic and progressive city and culture which has sustainability at its forefront.

The live music industry may also be undergoing a similar transformation. We have seen the end of many wonderful arts organizations and live music venues across both Fremantle and wider Perth such as Kulcha and Deck Chair Theatre. Is it really the end and how important are the live music and arts industries to Fremantle?

Tim Milsom from Fremantle Chamber of Commerce commented on the Live Music Scene in Fremantle: “The cultural scene is changing in Fremantle, with the live

music industry being extremely important to Fremantle's future. One of the things that actually brings people into Fremantle week after week, is the fact that we have got a range of music venues and so many talented musicians in Fremantle.

The Chamber of Commerce and City of Fremantle are intent on nurturing the talent in Fremantle and encouraging live music venues to succeed.”

We all need to work together to develop a new wave of live music culture in Fremantle. Again, the live music industry isn't dying; it is just re-forming, as is Fremantle into something even more wonderful than what we had before. The key thing here, which applies to all of our small business models, is to persist. When all appears to be doom and gloom, if we are doing what we know and love, and our belief is strong enough, and we continue to take strategic steps towards our goals, there is always a pot of gold at the end. It's not magic; it's a

combination of structured work, the right connections, and continued belief and of course persistence where others would give up.

To help you in your work day, remember to tune in to some of Fremantle's fabulous musicians here on www.pirate88.com/listenlive Have a fabulous month!

Elicia Petite GM Pirate 88 FM & WA Academy of Arts & Music

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IDENTIFYING QUALITY LEADS AND CLIENTS CLICK TO WATCH THIS CASE STUDY DISCUSSION

SOLUTIONS BY THE PANEL OF EXPERTS Expertise: Tenders for SME

Expertise: Social Media Solutions

If you are interested in submitting tenders and need help, contact Sue Findlay at 0417920149 Suzanne.findlay@bidbuddy.net.au Sue Findlay

A quality client is one which gives you a large amount of revenue for a small amount of trouble.

Some clients just aren't worth the hassle because they are difficult, slow, or bad payers.

Firstly, weed out your current clients that are not good quality. Then replace them with larger clients in your target market.

Expertise: Online CRM Solutions

For a detailed and customized CRM solutions for your business, contact Anton Menkveld at 0420 975 033 anton@designerlifetechnologies.com

For a detailed and customized social media strategy for your business, contact Douglas Lim from Alyka at 08 9200 4429 douglas.lim@alyka.com.au Douglas Lim

When using social media to get quality clients and leads, the first thing to identify is your target clients and which social media channels they use. So for example, if your client base is predominantly businesses (you're a B2B business), then LinkedIn is a great social media channel to get new clients and leads as it is a professional network and has a thriving community of business professionals sharing their experiences and knowledge.

However, if your typical client base is Generation Y, then Facebook is a great tool. Likewise, if you're a start-up looking for new customers, then Reddit is a great social media tool.

The public sector publishes great data. You can download government agency strategic plans and see what they are up to that gives you an opportunity for new business. You can also go onto the government tenders website to see their buying history.

Once you have identified the social media channels where your typical clients reside on, then it's time to work out your sales funnel. So for example, are you going to use ads on your social media channel to get cold leads and follow that up with a phone call to make it a warm lead? Or are you going to use a soft-sell approach – post great content on your social media channels, and have your fifth post talk about your service or product offering? It is vital to sit down and work out your sales funnel as it then drives everything else.

In the private sector, you don't have access to such great data. You could start by using your network and calling to ask if your service offering is currently under contract. If it isn't, great! Ask for a meeting! If it is, try to find out when the contract is due.

Now the next part is to understand how to use each of the different social media channels effectively, which will tie into your sales funnel. For example, if you are using LinkedIn, then set up a premium account and start adding people to your network with a friendly message on your invitation. Once they accept your invitation to connect, then private message them with a coffee request and catch up for a coffee. Business will then flow.

Join a network association and/or use LinkedIn to gain introductions to your targeted companies. Start building a relationship within 18 months of their current contracts falling due. Before that, they are in contract and won't want to talk to you. After that, they are out to tender and can't talk to you.

http://goo.gl/VhJehV

Anton Menkveld

You got them to your website, now what?

Many businesses waste their time and advertising dollars on attracting leads but squander opportunities by not having a clear follow-up plan once they've acquired the leads.

In other words, they don't have a well-defined sales funnel.

Every business has a sales funnel. This is the process you follow to take a prospective customer from being a lead to becoming a paying customer.

It's almost impossible to make the most of your hardearned leads without a sales funnel that is specifically designed to give customers the exact experience you wish for them to have with your business.

The purpose of your sales funnel is to build relationships with prospective customers, so they have time to get to know, like and trust you enough to buy from you now and in future.

The good news is that many of these relationships can be maintained online. Like how we use email and social media to keep in touch with friends and family, we also use it to learn more about the products or services we are interested in buying.

You may want to use Facebook to create a fan page and organically grow your page with new fans. This then opens up the door for your fans to hear more about your business. I would recommend a soft-sell approach in this instance.

Luckily, companies have technology like Infusionsoft at their fingertips to assist in building and maintaining customer relationships.

As you can see, the possibilities are endless with social media. As I've covered today, it's important to work out your target clients, where they reside on social media, work out a sales funnel and then tie this in with how to effectively use each of the different social media channels.

Technologies like these allow us to design and automate our sales funnel, which ensures that we convert the maximum number of leads into paying customers and create more repeat business.

Send us your business challenges & we will get them addressed by an exper t panel. nifnex@nifnex.com.au

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UPDATES FROM BUSINESS ASSOCIATIONS SUBIACO BUSINESS ASSOCIATION STIRLING BUSINESS ASSOCIATION JOONDALUP BUSINESS ASSOCIATION SUBIACO BUSINESS ASSOCIATION The Subiaco Business Association (SBA) is a memberbased, not-for-profit organization working for businesses in Subiaco, West Perth, Nedlands and surrounding areas. The SBA runs a range of events and seminars throughout the year, such as keynote speaker lunches, networking events and training workshops. Join us at our next event on digital marketing, entitled: “Email Marketing: How to push SEND and grow your business” with Jenny Spring of Spring into

Sales.

Jenny is an internationally awarded digital marketing specialist, and works with retailers, professional services and restaurateurs to build their businesses using this low-cost tool. She is a published author on Email Marketing Strategies. This event will be held at 5:30pm on Tuesday, May 6th at the Llama Bar in Subiaco.

For more information, visit www.subiacobusiness.com.au

STIRLING BUSINESS ASSOCIATION Our next event is a business

breakfast at the lovely Sandbar in Scarborough on Wednesday April 9th. With WA in the enviable position of having less than 5% unemployment, there is a competitive war for talent and it is essential for employers to stand out of the crowd. Learn how to Be an Employer of Choice with HR expert, Jayne Griffiths joining us to discuss why employees should choose you, the benefits of employee engagement and how to build your employer brand.

For more details and to register, visit: http://www.stirlingbusiness.asn. au/index.php/2012-02-03-0534-42/upcomingevents/item/293-april-breakfastbe-an-employer-of-choice This year, the Stirling Business Association is proud to be celebrating its 40th Year of Incorporation and as such, we will be hosting a huge Rubythemed Gala event that will coincide with our annual Small Business Awards. We will have some fantastic special guests and entertainment for everyone to enjoy as we take a look back at the SBA over the years and look forward into the bright future of business in the Stirling area by recognizing the successes of

16 APR – 15 MAY 2014 hardworking businesses today.

The Ruby Anniversary Awards Night will be held on Friday, October 31st so save the date and keep your eyes peeled as we continue to release more details.

OTHER UPCOMING EVENTS: Networking Sundowner (Pure unadulterated networking) Wednesday 14th May, 6 - 8pm, The Paddington Ale House An Afternoon on the Green Thursday 12th June, 2pm Registration for 2.30pm Shotgun-start, Maylands Golf Course 9-hole Ambrose Shotgun-start with bbq dinner, awards presentation and guest speaker Brant Garvey, International Para-Triathlete, joining us afterwards.

JOONDALUP BUSINESS ASSOCIATION The Joondalup Business Association and Bankwest hosted a very successful golf day on 25th February 2014.

With over $17 000 raised, this was a golf day with a difference.

The business community of Joondalup as well as the sponsors were extremely

supportive, echoing sentiments of wanting to be involved again next year. No one pulled off a hole-in-one this year but Clive Haddow, CEO JBA, is hopeful that next year, there will be a winner for that prize of a brand new motor car.

Come 20 June 2014, JBA will be presenting the 2014 North West Metro Small Business Awards at the Joondalup Resort to recognize outstanding small businesses in the Joondalup area. This event will be sponsored by Commonwealth Bank.

3 new categories have been added and these include Best Trade Services Award, JBA People's Choice Award and Entrepreneur of the Year Award.

Details of the 12 award categories are available on W W W. J B A . A S N . A U .

Alternatively, contact CLIVE HADDOW at 9300 1414.

New Projects: JBA's new membership drive (commencing 1st May), Business Focus Magazine (to be released in May 2014) and a new-members-only 'Value Card', offering major saving opportunities.

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WEARING TOO MANY HATS IN YOUR BUSINESS? CLICK TO WATCH THIS CASE STUDY DISCUSSION

SOLUTIONS BY THE PANEL OF EXPERTS Expertise: Time Management

Expertise: Business Excellence

For a detailed and customized time management solution, contact Chee Wong from Expert Messaging at 0423 267 517

Lesley Dewar

Andrew Christopher

- Being an email productivity specialist, you'd obviously expect me to say that conquering your inbox will help your business. Researchers tell us that most Australians are spending over 2+ hrs in their inbox every day. For most people, it may be possible to cull that back by as much as an hour. The quickest and most efficient way to learn how to do this is via one of our 60 minute workshops (www.expert-messaging.com.au/public).

- While working on techniques to increase efficiency in the business is definitely going to help, perhaps the single most important thing that helped me through my early days was getting my mindset right. I reached a point when I said to myself “This is not working, this is not sustainable!”. I made a conscious decision to change. That's when I started listening to podcasts such as 'This is Your Life' by Michael Hyatt and reading books such as 'The 4 Hour Work Week' by Tim Ferris.

- I'm not doing a 4 hour work week, but I am achieving far more in 4 work days than I ever did working all those crazy hours.

- Feel free to email me directly or leave a comment on my Youtube video on Nifnex TV.

Expertise: Writing and Using Social Media to Network

To engage Andrew Christopher to take a closer look at your business and assist you, contact Andrew from RFBE Consulting at 0419197558 achris@rfbe.com.au

chee.wong@expertmessaging. com.au

Chee Wong

http://goo.gl/JYzZxN

The importance of balancing working “on the business” with working “in the business.”

Maintaining this balance is a critical challenge that is common to small and large businesses. Very simply, if you do not have the right focus “On the Business”, the business will be challenged to improve and grow.

Larger businesses can afford resources to maintain “on the business” focus through Boards, Executive and Specialist Functions. They are however, not immune to getting the balance wrong through failure to delegate, management dipping down, firefighting etc.

Small business owners, particularly at startup, are going to be wearing multiple hats. It is important, however that they seek expert help to understand:- what these hats should be, the obligations as well as risks in order to make informed decisions about trade-offs and when to seek external help.

- “on the business” imperatives- e.g. work in the areas of strategy, leadership, market and competitors- help the business to grow and increase profit - “in the business” tasks- e.g. work on the tools, production and accounting are all important but don't grow the business.

- what balance is required and how to achieve this Today, small business owners can access this help from consulting firms such as RFBE that provide affordable and integrated SME-focused Director, CEO, CFO, CIO and other senior “On the Business” role services and support.

For a detailed and customized solution from an expert in writing and using social media for networking, contact Lesley Dewar from Stories My Nana Tells at 0417 915 502 www.storiesmynanatells.com

My approach is to focus on identifying major goals, the strategy to achieve them, and work in highly focused, intense sessions.

The power of having written goals cannot be overstated. With written goals, 3% of business people achieve 98% of the wealth derived from business.

What is a strategy? It is a plan of action or policy designed to achieve a major or overall aim. The end goal never changes and you base your reviews on “is this moving me closer to my goal?”. The commitment to have a strategy is more important than the strategy itself. You can amend, redefine, and change your strategy as the year progresses, as results make themselves apparent or opportunities present themselves.

- Do not procrastinate on minor decisions - Filter out what is not necessary for you to do, yourself.

- Think about saying “No”, instead of saying “Yes”, if it does not fit your strategy and will not move you towards your goals.

As an intense working session on a major task, a 50minute sprint will increase your productivity. The decision to start has been made. Turn off your email, Facebook, Twitter and phone. STOP at 50 minutes.

Take a 10-minute break. THEN decide IF you will continue on the same task.

Send us your business challenges & we will get them addressed by an exper t panel. nifnex@nifnex.com.au

UPDATE: MALAGA & DISTRICTS BUSINESS ASSOCIATION The Malaga & Districts Business Association (MDBA) is currently involved in trying to expand and develop Malaga and surrounding areas to establish the district as the place to go. We're doing this through a number of initiatives aimed at helping our members to promote and grow their businesses.

Since January, we've increased the number of events we hold from every six to eight weeks to at least two every month, including our monthly breakfast. Our other

event is usually a family friendly networking sundowner aimed at facilitating contacts between our members and showcasing some of the businesses in and around Malaga. Recent sundowners include Star Gazing, held in February at Parkview Hall, Ballajura, Lazer Tag held in March at Lazer Blaze, Malaga and Rock Climbing held in April at City Summit Rock Climbing Centre, Malaga. We're also working on increasing our involvement in the community

through partnership with several other not-for-profit organisations.

To find out about what the MDBA can do for your business or for further information on becoming either a member or a sponsor, please contact us on (08) 9248 2526 or at mdba@malagab2b.com.au.

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NIFNEX DEMONSTRATES THE POWER OF NETWORKING many others they had never met before, online or off.

Lesley Dewar

Zeeshan Pasha, CEO and Founder of Nifnex, launched the first Influential 100 Awards in Perth at the end of February 2014, with one hundred local business people publicly awarded for achievements in their own business spheres. It was a glittering affair, held at the Hyatt Hotel Ballroom, with the Lord Mayor of Perth, Ms. Lisa Scaffidi, as the principal guest of honour.

The ladies dazzled, gentlemen looked suave in business suits, and the conversation bubbled – as friends put human form to Facebook images, speaking to

As a networking event, it was a spectacular success, with promotion primarily through Facebook and Twitter. The concept of nominating someone else on Facebook as one of one hundred influential people was an instant success, and some highly innovative messages circulated on Facebook during the voting period!

Perth has one major daily newspaper, a Sunday-only tabloid, one business newspaper and a scattered conglomeration of suburban newspapers that publish at different times and generally focus on local happenings. These publications do not focus on small business practices, even though small businesses are a huge part of the Australian economy. Business magazines abound, and business organizations offer guidance

mostly pitched at a higher commercial level than that of small entrepreneurs. Multiple association memberships and subscriptions, along with the time and costs of attending meetings and events, mean many entrepreneurs miss much needed expert advice.

These are highly limiting factors for small business owners, when their real need is for a coordinated format.

Recognizing this vacuum, Zeeshan directed his efforts into creating “The Nifnex Review”.

To quote him, “It is a monthly B2B print publication delivered to 10,000 small to medium businesses in Perth, featuring business articles to inspire, create positivity and provide knowledge”.

Zeeshan has a quirky sense of humour. He created the name “Nifnex” as a combination of Nif (from Nifty) and Nex (from

Nexus) – so the business is a quick and smart way of making connections.

Business experts, who form the Nifnex Writers' Club, write articles with authority and experience and they are a source for publication in the Australian Small Business Magazine too, which expands the sphere of influence of those writers.

As the readership grew, Zeeshan organized Nifnex events where entrepreneurs could display their businesses and the highly innovative launch of Nifnex TV. Each month, Zeeshan chooses six real case studies, where each case study is addressed by a panel of three experts with different expertise. Each expert writes 400 words on how they approached the case study. Their discussions are recorded on video and each case study, its YouTube link and the three short overviews are featured on

Nifnex's website for public viewing and sharing. This is a highly innovative way to bring excellent content to the SME business owner. You can view a sample case study here:http://youtu.be/uPOsboN vQsg. The business writers also contribute a topical article on a regular basis, for publication in the paper and potentially, in other business magazines.

Hon. Lord Mayor, Lisa Scaffidi

Sponsor: RFBE Consulting

Sponsor: Women Friendly Services

Sponsor: WTV

The growth of The Nifnex Review in the past twelve months is testament to the power of networking – online and in person.

Photocredit- Lighthouse Photography

EVENT SPONSORS

Opening Act for Awards Night: Nez Erok

Business Station Team: Jessica Shrank, Donna Rose, Ginene Marriott

Sponsor: SwitchMyLoan

Sponsor: Small Business Centre Stirling

Masters of Ceremony: Terri Billington and Elicia Petite

Sponsor: Opportunity International

Sponsor: Wealthwise

Sponsor: AusIndustry

Sponsor: Stories My Nana Tells

Sponsor: Fremantle Chamber of Commerce

Sponsor: Blitz Credit Management

Sponsor: TFS Corporation

Sponsor: Fortuna Accountants and Business Advisors

Sponsor: Tantra Technology

Sponsor: Liberty Executive Offices

Sponsor: Business Station

Sponsor: Telstra Business Centre Morley

The N i fnex I nfl uenti al 100 Awards Team

Sponsor: Radical Consulting

Sponsor: Belmont Business Enterprise Centre Inc

10 Running a small business can be scary and of all the obstacles, don't let fear take you down.

Small business owners' fears range from the economic situation, to losing key staff or not making enough money to pay the bills.

Research found that internal fears and self-doubt erode your ability to succeed the most. The antidote to fear is having courage and confidence in yourself, your business, team and product.

Top 3 Deadly Fears 1. Fear of Failure We all fail but some see failure and others, feedback. Businesses fail for many reasons: Competition grabs market share, funding disappears or a recession blind-sides you.

Read online www.nifnexreview.com.au ideas. Can I handle what business will throw at me?

Give yourself credit for what you already know and do. Learn what you don't know. No one can predict every challenge. Do your due diligence, enlist help and confidence will replace inadequacy.

3. Fear of Risks Psychologically, humans experience losses twice as powerful as gains. This means that we place high value on personal possessions and will fight very hard not to lose it.

Whether you're in a job or a business, it's risky times for everyone. Business owners take calculated risks and accept them as part of business and of living life.

Which mistakes were made and what can be learned? Failing can inspire greater wisdom and triumphs; and it's better than never trying.

Do the same in your job. Find ways to add value and do more than expected.

Keep your big picture and goals front of mind, and remember that action is a great antidote for fear.

2. Fear of 'Not Being Good Enough' Dreams are left unfulfilled because of fears of inadequacy. We question ourselves, our abilities, products and

How you respond to fear makes all the difference. Will you freeze and pull the covers over your head or will you face your fears head-on?

16 APR – 15 MAY 2014

3 FEARS THAT SCARE SMALL BUSINESS OWNERS TO DEATH 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 Brian Tracy.

Join her FREE Program to Build More Courage + Confidence: www.66daysofcourage.com

Alicia Menkveld The Courage Builder

Keynotes and Training: Contact Alicia on 0425 177 897 or alicia@radicalconsulting.com.au

BUSINESS COMMUNIT Y POP THEIR FEARS

16 APR – 15 MAY 2014

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HOW TO START A BUSINESS CLICK TO WATCH THIS CASE STUDY DISCUSSION

SOLUTIONS BY THE PANEL OF EXPERTS Expertise: Unleashing Entrepreneur Mindset

Expertise: Accounting / Business Structures / Bookkeeping

A great book I recommend is Business Model Canvas - by Alexander Ostelwalder. The extremely visual book takes you through the 9 key building blocks of a business - Key Partners, Key Activities, Key Resources, Value Propositions, Customer Relationships, Channels, Customer Segments, Cost Structure and Revenue Streams. The best thing about the Business Model Canvas is you put your ideas on post-it notes and arrange them in the appropriate building blocks, so if you don't like something you can always remove it, or add something else in.

Business plans can also be very important if you're going for funding, particularly from the bank and venture capitalists. They want to see the rigor in your planning and whether or not any key assumptions have been tested. I'm personally not a fan of a 52 page business plan, as it invariably ends up in the top drawer, collecting dust. Making your business plan simple, concise, and dynamic are the three top keys to ensuring it is a useful document that you refer to regularly.

For a detailed and customized solution regarding serviced offices, contact Jamie Vine from Liberty Executive Offices at 08 6141 3100 jcv@libertyoffices.com.au

sonja@assetfinancialaccounting.com.au

Jamie Vine

Sonja Pilkington

People don't plan to fail, but they fail to plan.

Determining your business model and preliminary research in validating your idea can save you heartache if things go awry, not to mention your wallet too.

Expertise: Serviced Offices

For a detailed and customized accounting solution, contact Sonja Pilkington from Asset Financial Accounting at 1300 880 961

For a detailed and customized solution from an entrepreneurial perspective, contact Daniel Jovevski from Switch My Loan at 1300 307155 daniel@switchmyloan.com.au Daniel Jovevski

http://goo.gl/rrMc4T

Decide on the business type – Sole trader, Partnership (if there is more than one partner in the business), Company (being able to sell shares in the company later) or Trust (for asset protection). Obtain advice from your accountant about which option is best suited to your needs.

Decide on a name and check its availability. ASIC's website will tell you if it has been registered. If the name is already being used, it may also be trademarked and you don't want to be subject to a cease and desist order.

Once you have decided on the best vehicle for your business, you need to apply for an Australian Business Number (ABN – not to be confused with an A.C.N – Australian Company Number). Without it, you cannot trade and your customers should withhold 46.5% and pay this to the ATO. Register the Business name with ASIC. You can apply online for an ABN at abr.gov.au and can apply for the following at the same time: - AUSKEY – makes it easier to change or update registrations in future; - Tax file number for the entity, if not trading as a sole trader; - GST – the limit is $75,000 (or $150,000 for not-forprofit organizations). Be aware that if you do not register and then reach the limit, the ATO may require GST to be back dated and all GST liabilities to be paid for the year, even if GST was not raised on sales; - If you are employing staff, you need to register for PAYG with holding.

Other requirements to consider – - Open a business bank account and keep it separate from your personal expenses - Licenses to trade for your profession - Working from home – do you need permission from your shire?

- Special permits An accountant can assist a new entrepreneur with most of these registrations and applications. It's less expensive to pay someone to do it correctly from the start than to pay someone to undo and fix the errors later.

PERCEPTION IS REALITY. With business, overcoming challenges is a key to success. Having enough credibility for people to engage you for the first time is vital.

Potential clients need to feel comfortable with you.

No matter how good your offering – the perception of your target markets is the reality.

Don't look unprofessional: Organizations look out for a number of 'red flags' which will make them nervous about your ability to deliver. Business cards, website and marketing collateral without a credible business address, or just a mobile phone number as a contact looks unprofessional.

People like to see a track record and the indicators of professionalism.

So how do you look credible without a long lease?

There is a solution – businesses can take on what's called a virtual office. Without moving location, you can have a prestigious address, personalised call and mail handling services. You'll enjoy freedom to work anytime, anywhere - without costs of renting office space.

Your business cards will have a CBD address, you'll never miss a call and you can arrange meetings at your 'office'or 'meeting room'.

If perception is important to you, I advise looking into a virtual office. As a provider of virtual offices in Perth, I'd be happy if you consider Liberty Executive Offices. We have virtual office packages starting from $18.50 per week.

Do visit our website at http://www.libertyoffices.com.au/virtual-offices/

Send us your business challenges & we will get them addressed by an exper t panel. nifnex@nifnex.com.au

BUSINESS CONFIDENCE IS RISING PERTH SERVICED OFFICES UPDATE by Jamie Vine There's currently a significant upturn in business activity in Q1 2014. One of the key business confidence indicators is commercial activity.

We have a range of parameters we use to measure this in our own business forecasting – some of which are highly analytical and detailed financial modelling apparatus.

However, other indicators we analyse are basic patronage statistics such as meeting room

and facilities usage. These indicators are a sound empirical barometer of business confidence as they reflect an increased level of business development activity, training and personnel interviews - all of which demonstrate that businesses are investing their growth strategies.

To take one metric – our meeting and conference room facilities have experienced a 98 percent increase since the beginning of 2014.

Even though the anecdotal feedback is indicating that we're the preferred provider of these facilities – we still expect that other providers are still enjoying good patronage, indicating broad business confidence in WA. About our meeting room and conference facilities: Our conference rooms can be booked by the hour by both resident clients and the external market, where our facilities compete head to head with the more

costly and less businessfocussed accommodation found within the CBD hotels.

Aside from the benefits of conducting meetings in a purpose-built business environment, our facilities come without the 'add-ons' that can be found in hotel tariffs. We don't charge any more for the use of whiteboards, flip charts and presentation equipment and we even offer day delegate packages where your meeting can be fully catered at an all-inclusive price,

allowing you to budget accurately.

For more information on meeting rooms that mean b u s i n e s s , c a l l Ta r a Cruickshank on (08) 6141 3100 or http://www.libertyoffices.com.au/ meeting-rooms/

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16 APR – 15 MAY 2014

Read online www.nifnexreview.com.au

3 BIGGEST MARKETING MISTAKES BUSINESSES MAKE An Out of the Box Biz Event

by Hilary Poeton

More than 40 business owners got together at the Technology Park in Bentley to hear Hilary Poeton speak about the 3 biggest marketing mistakes businesses make.

The topic was well covered addressing: - The common words and phrases that you should NEVER use in your ads, and what you should use instead - How you could be missing out on up to 85% of your potential customers and what you can do about it - How you can stop your prospects cutting you down on price and how to make them choose you over your competitors, even if you charge more The next event on 21 May, addressed by Sue Papadoulis, is about generating free publicity for your business.

PERTH'S JOB MARKET UPDATE EXCLUSIVE INTERVIEW WITH DEANNE TINDALE

Having spent the first part of her career as a manager in the heady days of IT in the late 80's and 90's, Deanne Tindale; CEO of DreamVast Executive Search, saw first hand how success or failure of a business rested in the quality of its people. She had great teams that were absolute winners and was also a Sales Manager at Wang when it hit the wall because it failed to change when the market changed.

Deanne moved into the Recruitment business in 1995, spent some time working for the world's largest recruitment firm in Australia, Asia and the US and set up her own company in 2005.

We h a d t h e p l e a s u r e o f interviewing Deanne to find out more about the job market in Perth and also about her business.

Q: Deanne, thank you for your time. Can you please update us about Perth's job scene?

The Perth job market depends heavily on mining and resources and as a consequence of the recent downturn in the mining industry, is experiencing a tougher time. An executive from one of the big miners said to me last week, “A mining engineer can get a job anywhere in the world except Perth right now”.

Deanne Tindale

That being said, most Perthbased SME's are flexible, willing

Topic: Generating FREE publicity Presenter: Sue Papadoulis When: Wed 21st May, 6-9pm Where: Function Centre,Technology Park, 2 Brodie-Hall Drive, Bentley To book, visit: Outoftheboxbiz.com.au/events Discount Code: NIFNEX

to innovate and will take on good people if they think it will improve their business. There are always good jobs for good leaders and managers who can show they know how to respond to a changing market and can bring their people along for the ride.

Q: What is your niche in the recruitment industry?

I specialize in 1 thing and I've done it since 1997: Recruiting people who are masters of business transformation and turnaround; the people who know how to change and improve a business and make sure that those changes stick.

Q: Why do you do what you do?

My personal life mission is to help people transform their lives.

I spent 7 years volunteering with women suffering domestic violence, who had nothing and went on to change their entire world.

I've worked with countless senior executives who had a great deal more and helped them turn around their business, their career and their personal lives. To me, it's all on a continuum – it's about helping people get to the place where they want to be in their lives. I love it. It's what I was born to do.

Out of the Box Biz is a network of professional people and business owners providing business development and education at every meeting, featuring guest speakers to share their expert knowledge.

If you are a professional person or business owner committed to: - Building a professional business brand online - Seeking high quality business connections in person - Do what it takes to achieve increased profits Consider working with Out of the Box Biz!

Q: Could you give the readers (small to medium sized business owners) 3 -5 tips when hiring their next employee?

1. Ask your candidate to tell you what are the 3 things they are proudest of in their career and what is it about those things, which makes them proud? This will show you their real capabilities, what they are likely to be good at and if they are a good fit values-wise for your organization.

2. Say to your candidate: “Imagine it is 12 months down the track and this is the most successful and enjoyable job you've ever had. What would have happened?” This will tell you what they are hoping will unfold in the role. Check: is that what you, as the owner want?

3. Then say to your candidate: “Now imagine it is 12 months down the track and I'm firing you. What happened?” This will tell you what they are worried about in this role. Check: Are those concerns valid and if so, what do you need to do in response?

Please visit my website at w w w. d re a m v a s t . c o m , e m a i l m e a t dtindale@dreamvast.com or call me on 0413 448 822 if I can be of service in any way.

16 APR – 15 MAY 2014

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HOW TO PLAN YOUR MARKETING DOLLARS & RETURN ON INVESTMENT SOLUTIONS BY THE PANEL OF EXPERTS Expertise: Creative / Branding

http://goo.gl/u9MRMS

Expertise: Award Winning Business Mentor For a detailed and customized solution to help you grow your business, contact Rueben Taylor from Business Wealth Educators at

For a detailed and customized creative and branding solution for your business, contact Diann Bates from Creative Fruition at 08 9355 0600 www.creativefruition.com.au Diann Bates

CLICK TO WATCH THIS CASE STUDY DISCUSSION

08 9468 0200 www.BusinessWealthEducators.com.au

Rueben Taylor

Today's marketing dollars must work harder and be profitable, as products and services don't sell themselves!

Your business is no doubt facing increased competition locally and from overseas, which is putting the squeeze on sales, profits and has you clutching to your market share.

To make the most of your budget, you must clearly understand which efforts will return the best value, and to what extent.

Knowing how much you have to spend on marketing, as well as how you spend it, is critical!

The first step is to have a comprehensive plan and budget which outlines the costs of how you are going to achieve your marketing goals within a certain time frame.

Knowing your customers precisely and the most effective ways to reach them are the keys to unlocking profitability and increasing your marketing return on investment. Answer the 'who,' 'how,' 'why,' and 'where' of consumer decisions to create the most comprehensive view of the consumer available.

To communicate effectively, you must see the purchase decision-making process and the media landscape through their eyes. The optimal media allocation plan will lead to growth and profitability, based on historical learning and your future objectives.

Make sure you get found. Nurture, engage, provide relevant offers, build trust, measure and above all, be aware of how your competitors are marketing to your customers!

Too many businesses are ad-hoc with their marketing strategy and budget, and end up wasting time and money. Here are a few things to consider in order to maximize the Return on Investment of your marketing.

Test and Measure 80% of Marketing bombs and 20% works miracles.

The only way you will ever know the difference is by testing and measuring. Ask every customer how they heard about you. Set up analytics for all your online marketing campaigns.

For small business marketing to be profitable, more money should be brought in than the cost of marketing.

Measure everything using offers, codes, links etc so you can ensure this is the case.

Buying Customers Marketing is all about how you cost-effectively buy customers. If you want more customers, you will need to invest in marketing. A key number to understand is Acquisition Cost, which is the cost to buy a customer.

For example, if you ran a campaign costing $300 that resulted in 10 new customers, then your acquisition cost is $30. Ideally, your acquisition cost will be less than profit from your first sale. That way, any new customer you buy is profitable from day one and you can keep investing in your marketing.

The Best Way to Set a Marketing Budget Your marketing budget can simply be set based on the number of new customers you want. If you wanted 100 new customers a month and if your acquisition cost was $30, then your marketing budget would need to be $3000 per month. Most businesses do not invest enough in marketing for the level of growth they desire.

For more business tips and strategies, visit www.businesswealtheducators.com.au

Send us your business challenges & we will get them addressed by an expert panel. nifnex@nifnex.com.au

INDUSTRY UPDATE: SMEs ARE RESPONDING TO GLOBALIZATION

Andrew Christopher, RFBE Consulting Mob: 0419 197 558 E: achris@rfbe.com.au

Globalization is the worldwide trend in which an increasing proportion of economic, social and cultural activity is carried out across national borders.

Previously, main beneficiaries of globalization were larger companies with the networks, funds & resources to access & establish cross-border supply, services etc; improving revenue and reducing costs.

With technology advancement in a global workplace, social media interaction, easing of trade restrictions etc, SMEs must leverage the benefits of globalization or face extinction.

Today, SMEs are already accessing the benefits of globalization by producing overseas, importing directly sourced supplies & exporting; cutting out middle-man costs & eliminating process delays.

SMEs still lag behind large enterprises and only now begin to understand the imperative of focusing on core activities & accessing benefits of professional, cost effective and efficient white collar services that are available in the global workplace. SMEs should contact expert advisors to explore their potential to benefit from globalization.

WANT TO SELL MORE ONLINE?

Let us create your Video Blog!

For all your video needs, contact Reg on 040 171 9859

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16 APR – 15 MAY 2014

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BUSINESS TIPS FROM EXHIBITORS BUSINESS EXPO SOUTH EAST METRO Having a mobile website makes it easier for your customers to find you.

Paula Giolitto - Everything Visual Design & Print - 08 9256 3477 Protect your invoiced money by becoming a Secured Creditor, which will protect y o u f r o m Liquidators/Receivers of your clients' business affairs.

Donald King - Credit Protection Australia - 0417 450 451 For People and Businesses that want to grow.

Whaleback Golf Course, every Wednesday 7am 8.30am.

Everyone welcome. Call to book for a free breakfast.

Nigel Yoxall - BNI Southern Stars - 0407 933 118

When running a small business, you may get sucked into the all work and no play scenario. This is really dangerous for you as the main stakeholder because if you burn out, who will look after the business? So take time out occasionally, go away, turn your phone, computer, ipad etc off and ignore emails and make sure that you eat regularly, sleep enough each night and try to include regular exercise into every day. And have fun!

Pippa Spibey - Renew U Support - 08 9398 3719

The Water you Drink? How Safe is it? Think local. Deal local. Call the multi award winning West Coast Water Filter Man because… If you're not using a water filter, your body is one!

Richard Scholes - West Coast Water Filter Man - 1300 663 037

Make sure you advertise and promote your website to the right target audience; otherwise it would be like having a billboard in the desert.

Gary Hanley - Website Rescuers - 08 9277 3338

A website's number one goal is to convert visitors to potential customers.

Focusing the website on how you can solve their problems (rather than what you want to tell them) is paramount.

Neville Greenwood - Web Wizards - 08 9350 9392

Seek professional advice before starting a venture. It will save you money and anguish later.

Jules Lewin - Charthill Legal 0417 921 428

Registering your business name does not provide you with any protection for your valuable brand name and logo. Register your trademark to keep your competitors at bay.

Have a new idea, innovation, or invention you want to commercialize? Speak to your patent attorney first or risk losing your patent rights.

Dr David McCarthy; Golja Haines & Friend - Patent & Trade Mark Attorneys - 08 6468 0932

Make sure you give importance to your personal brand to stand out of the crowd and be seen, heard & talked about often.

Zeeshan Pasha - Nifnex – 1300 643 639 Have your mortgage broker research all the available options for you. They will save you time and money.

David Goode - Westate Finance - 0421 415 558 When applying for work, ensure that you present yourself as a serious candidate. Dressing to impress is the key. Present yourself like you are seriously looking for work and that you have pride in your appearance as this would flow on to your work practices.

Rod Dever - ORS Group - 1300 677 789

If you fail to plan, you plan to fail. Setting goals and being proactive is critical to the success of any small business.

Treat your staff with respect and fairness and they will go that extra mile to make your business a success.

Tanja Coyne - Circa HR Solutions - 1300 174 435

Cloud-based accounting helps streamline systems and processes so you can spend more time focusing on business strategy and projecting your expected financial results rather than re a c t i n g t o w h a t j u s t happened last month.

Mick Popovic - Numero Accounting - 0450 601 903

Don't forget the small things.

Ensure your business mail has a return address. This will help ensure your client contact details are up to date.

Ellie Knapp - Quickmail - 08 9493 0477 First impressions can have a lasting impact on the reputation of your business.

So make sure you keep your office clean and tidy to create a great first impression.

Manpreet Mann - Wise West Cleaning Services - 0433 898 238 Smart IT services not only provide businesses with a stable network, it also improves business productivity, reduces costs and maintains that IT is hassle-free.

Future Logic - 08 9471 6500

16 APR – 15 MAY 2014

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THE FINE PRINT FOR YOUR BUSINESS CLICK TO WATCH THIS CASE STUDY DISCUSSION

SOLUTIONS BY THE PANEL OF EXPERTS Expertise: Legal

Expertise: Financial Planning / Insurance

Written terms and conditions of trade (T&C) are closely tied to sales and results. To recover money for goods or services provided, the starting point is the T&C on which you agreed to trade.

- Your right to payment.

T&C will specify when your right to be paid accrues (eg, at the end or progress payments along the way), when and how payment is to be made (eg, 14 days from issue of an invoice), whether you are entitled to interest on unpaid amounts and if so, at what rate and from when.

- Security for payment.

T&C will ordinarily cover any security arrangements to guarantee payment to you. If you are supplying to a company, you may want a security charge and/or director guarantees. You can incorporate a credit application into your T&C. - Ownership of goods and passing of risk.

T&C should identify the point at which risk of loss or damage passes. Do supplied goods remain yours until payment in full? What happens if they are lost, damaged or destroyed prior to full payment?

Without T&C, you cannot protect your interest in unpaid or hired goods in the event of insolvency or enforcement steps taken by other creditors.

- Limitations on liability The T&C is your opportunity to limit your own liability. Except for certain matters covered by legislation, you can generally agree to exclude or limit your liability for contract breaches and negligence.

Expertise: Organizational Leadership

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

For any legal business advice, contact Dominique Engelter from William & Hughes Lawyers at 08 9481 2040 www.whlaw.com.au Dominique Engelter

http://goo.gl/c1IHf6

For a detailed and customized leadership solution for your team, contact Shannon Bush from Creative Possibility at 0403 270 196 www.creativepossibility.com.au

Conrad Francis

Shannon Bush

The value of any insurance policy is in what they will and won't cover when you have to go down the unfortunate path of making a claim. With prior medical history and some other complications thrown in, I have had to personally rule out policy after policy before finding something that, although not perfect, would fit the bill for what I was attempting to achieve.

In a recent survey commissioned last year, it was found that just 30 per cent of Australians thoroughly read the product disclosure statement to find out what they are covered for. Surprisingly low, given what most are trying to achieve with their insurances.

In the same survey, nearly two-thirds of the 1000 people surveyed said they skimmed the document, with 9 per cent admitting they hadn't read it at all.

While reading fine print is no one's idea of fun, there is no point in shelling out for a policy that won't pay up.

Consumer watchdog, Choice, conducted a review of 89 insurance policies in late 2012 and found significant differences between them, leading it to declare that "choosing the wrong policy can almost be as bad as none at all".

The organization says only 30 per cent of disputes that reach the Financial Ombudsman Service's "decisions stage" are resolved in favour of the applicant, because the ombudsman can only help where the issue is covered by the policy taken out by the policy owner.

There is no inbuilt safety net for those who choose the wrong policy or fall through a gap by failing to declare a factor that could affect their insurance.

In my opinion, an effective manager is actually a leader, not someone who manages the day to day running of a business just focusing on the small stuff.

To be a true leader, there are different traits and skills that come into play.

A leader is someone who - Is strategic - Leads by example - Is committed to growth and learning for themselves and the team - Understands the broad range of objectives of the business and leads the team to achieve them - Employs a team of specialists to carry out the functions of the business in order to execute the strategic plan and achieve the business goals - Motivates the team, sets direction, defines the vision, promotes and encourages If they are sweating the small stuff too much, then they don't have the right team or right supports for the team, such as training or mentoring, in place.

It is important that effective managers are aware of the fine details but they should not be spending all their time worrying about them. Leaders define the policies and support the team to execute them. They encourage monitoring of those policies and procedures but do not necessarily carry out the monitoring. They lead by example, showing the team how to follow an organization's policies and procedures. They work with the management or senior executive team to ensure the relevant policies and procedures are current and relevant, and lead the team to review and finalize any changes or additions to the organization's documentation. They support a culture of growth, learning and quality, and act in a consultancy role.

Send us your business challenges & we will get them addressed by an exper t panel. nifnex@nifnex.com.au

FIND YOUR VOICE & USE IT Stephanie Chan; Strategic Insights Coaching Stephanie@strategicinsights coaching.com Do you fear losing a sale because you weren't convincing enough? Are you short of being inspirational or babble on when motivating your team? Are you stumped for words at networking events only to defeat the purpose of creating relationships there?

COMMUNICATION is the key. Your message is important but often it's not what you say but how you say it that gets the results. 4 years ago, I joined a public speaking club in Toastmasters

International to find my voice. I went from an invisible attendee to a major contributor at department meetings. I enjoyed effective communication so much that I have now switched careers to pursue this passion.

There are several ways to help you improve your communication skills: Short one to two minute speeches allow you to practise delivering a powerful message to people with an equally short attention span. Perfect for an “elevator speech” in describing what you do.

Impromptu speaking provides an opportunity to think on your feet while maintaining an organized speech structure with an introduction, body (content) and conclusion/summary.

This is another commanding skill to take with you to your networking events.

Prepared speeches of 4 to 15 minutes allow you to synergize on voice variation (tone, tempo, pitch & pace), gestures, stage presence, vocabulary and speech structure to entertain, persuade, inspire and motivate your listeners.

Workshops are practice-runs for making presentations at work and in public speaking.

Evaluations using the Commend – Recommend – Commend – Summary method is no different from a leader evaluating and motivating team members on their performance.

Everyone has something important to say and deserves to be heard. Finding your voice and using it appropriately will give you that confidence, edge and Unique Selling Proposition which distinguishes you from everyone else.

WANT TO INCREASE CONVERSION RATES?

Let us shoot a Testimonial Video for you!

For all your video needs, contact Reg on 040 171 9859

100 MOST INFLUENTIAL Perth Small Business Community - Adriana Graubard; Via Appia Networking WA - Alba Gomez; Alba Gomez Image Consultancy - Alicia Curtis; Alicia Curtis Leadership - Alicia Menkveld; Radical Consulting - Alida Cubbage; Caffissimo Westend Village - Andrew Herrmann; Access 1 Security Systems - Anna Murphy; Annasha Day Spa Retreat - Arna Van Ravestein; IMARI - Betty Tran; Betty Tran - Big Al Connolly; The Buyerdirect Group - Bob Litchfield; Bob Litchfield – Master Photographer - Brian Gillett; Bloo - Brodie McCulloch; Spacecubed - Calvin Coyles; Young and Wildly Successful - Carol Pearce; The Naked Specs Company - Carol Frieling; Urban Day Spa, B Waxed and RBS - Carol Hanlon; Belmont Business Enterprise Centre - Caroline Babbage; Fawkes House / Kalamunda Chamber - Caron Marshall; CM Strategic Consulting - Charles Ryder; White Chalk Road - Charlie Caruso; Puggle Productions - Colin Atkinson; CA Management - Daniel Jovevski; SwitchMyLoan - Diann Bates; Creative Fruition - Douglas Lim; Alyka - Evan MacRae; Small Business Centre Stirling - Elicia Petite; Pirate 88 FM P/L - Emina Davis; Logistic Settlements - Felicity Orr ; Malaga Print and Copy - Fleur Allen; Property With Purpose - Frances Williams; FWRD Rewarding Databases - Gabor Hernadi; Business Foundations - Gary Hanley; Website Rescuers - Gary McGrath; Commonwealth Bank of Australia - Gary Pontifex; Real Logic - Ian Crawford; Candor Training and Consultancy - Iwona Polowy; Minds United - Jamie Vine; Liberty Executive Offices - Janet Cheeseman; USANA Health Sciences - Jennifer Rose Bryant; Women In Business W A - Jo Saunders; Wildfire Social Marketing - John Ross; FBI Young Guns - Jon Ellis; Rockingham I.T. Solutions and ioSafe AU - Julie Jeffery; Pierrot's Hair Studio - Julissa Shrewsbury; New Work Photography - Kellie Briggs; Women Friendly Services - Kim Charles; Small Business centre South East Metro

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- Kim Barrett; KBOSS Fitness - Lari McDonald; Seadragonz Swim School - Lesley Dewar; Stories My Nana Tells - Lesley Hardy; TheJobZone

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P I C T U R E S

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Lita Squibb; Midas Book keeping Services Lorraine Garvie; Business Reboot Lucio Di Giallonardo; HLB Mann Judd Mabel Laidlaw; Keynote Events Mark Diggins; Small Business Centre North West Metro Mary Argese; Coaching Business Success Matthew Walker; Tireweb Marketing Michele Alexander; Your Local Business Coach Ming Johanson; OTOTGo Natalie Walker; Blitz Credit Neil Gibson; CVW Creative & Connecting Bassendean Nicole Ashby; FIFO Families Oscar Fong; Foice Paul Faix; Fortix Paul McKinley; Finance 48 Paula Smith; Self Leadership Institute Pauline Bright; Pauline Bright Pauline Song; Optiwealth Consultancy Pty Ltd Peter Taliangis; Professionals Ultimate, LinkedIn Profile Auditor, Networking Host Phil Kemp; Business Foundations Pippa Spibey; Renew U Support Rajab Karume; Needle n hay Richard Scholes; West Coast Waterfilter Man Richard Klimek; Klimek & Co Family Lawyers Richard Giannini; Infinity Growth Roisin McLachlan; Alpha Models Ron Gibson; Go Networking Rueben Taylor; Business Wealth Educators Sarah Thomson; Online Social Butterfly Sarah Bellow; Local Chambers of Commerce & Industry Shannon Bush; Creative Possibility Sharyn McCaskey; MDVS Business Services and RBS (Rockingham Business Sundowners) Sherryn McBride; Marketing Talk Simon Creek; HHG Legal Group Sonja Pilkington; Asset Financial Accounting Stephan Jenner; Telus Partners & Future Logic Steve Cloughley; WA Cleanskin Cellars Sue Pember; Aussie Orientation Services Sue Papadoulis; Publicity for Profit Suzi Arslan; Suncorp Bank Sylvia Marina; Sylvia Marina Terrence Cheong; Integrative Business Solutions Terri Billington; Rock Your Business Tim Milsom; Fremantle Chamber of Commerce Tom Tapping; Major Fundraising Tony Romano; De Freitas & Ryan Property Group / President of MCCC Tracey Edwardes; Flawless Bookkeeping Urika Wong; South Central Accounting and Tax Ze Weng Wong; Ze Photography

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