By studying what other painters ‘were’, and ‘were not’ doing, my business became successful.
As it turned out, it was indeed too good to be true.
Find your way to financial stability and success.
Tips that should be part of your business plan to effectively scale your business
Welcome to the 134 th issue of The Aussie Painting Contractor Magazine.
What an amazing month we have had. I would like to
welcoming Mikayla to the team. She has come in and amazed us with her work ethic and ideas she is bringing to the
If you call the office, you will likely get her on the other end of the phone. If you speak with her, remember to welcome her!!
The Skilling Queenslanders for Work program continuing and some of the participants already having been offered apprenticeships. The program only has a few weeks to go. If you are on the Gold Coast and are looking at putting on an apprentice reach out we have a few great participants to send your way.
The last 10 days we have spent travelling through Qld. With the first stop for training in Cairns, a big shout out to Inspirations Paints Cairns for welcoming us and letting us use their facilities, also thanks to all the painters that came down to see how real training is done in the regions. After a couple of days their it was off to Airlie Beach, another 2 days of training covering from Working at heights to Decorative finishes, (you might have seen Matt’s videos). Now I’m sitting in a hotel room getting ready for 2 days of training at Crowies in Rockhampton. We still have Bundy and Hervey Bay to train in next week if you want to catch up reach out and let me know.
'Til next month, Happy Painting!!
How can I navigate my business through the cost of living crisis?
What direction is your business heading in?
How to Address What’s Really Causing Your Avoidance
Why prices are so high –8 ways retail pricing algorithms gouge consumers
What Insurance does a Trade Business need?
Is Cheap Ever Good?
How to Scale Your Business with Minimal Effort
What Exactly Does Pty Ltd Mean in Australia?
Protective Coatings and Graffiti Removal
Debt Management Tips for small business owners
Become Quiet So You Can Listen...
Opinions and viewpoints expressed in the Aussie Painting Contractor Magazine do not necessarily represent those of the editor, staff or publisher or any Aussie Painters Network’s staff or related parties. The publisher, Aussie Painters Network and Aussie Painting Contractor Magazine personnel are not liable for any mistake, misprint or omission. Information contained in the Aussie Painting Contractor Magazine is intended to inform and illustrate and should not be taken as financial, legal or accounting advice. You should seek professional advice before making business related decisions. We are not liable for any losses you September incur directly or indirectly as a result of reading Aussie Painting Contractor Magazine. Reproduction of any material or contents of the magazine without written permission from the publisher is strictly prohibited.
So, we’re officially in the thick of a cost of living crisis. Many businesses are feeling the pinch with all the new challenges it presents.
If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your staff, you’re not alone. It’s likely you’ve already looked at where you can cut costs, but it seems like an impossible task when suppliers are raising their own prices.
But, don’t despair just yet! There are strategies to stretch your dollar further, and they’re not always about trimming expenses.
Regularly review your costs
Knowing exactly where and when money is coming out of your business, is the first step to seeing where you can save costs. You could be paying for services you don’t even use, or simply aren’t worthwhile.
Check your statements with a fine-tooth comb
By going over your accounts in detail, you might find payments coming out that you had forgotten about, e.g. for subscription services you no longer use. Even
if it only saves a tiny amount each month, these costs add up over time and the cash could be better spent elsewhere.
Take it one step further and ask yourself if the products or services you pay for add value for your business.
Be on the lookout for deals
Once you’ve got a clear idea of your costs, work out whether your money is going as far as it can for the services you need. When was the last time you reviewed your providers? Can you negotiate a better rate? Could you get a better deal by going elsewhere?
If you’re a single-person business, you also might be able to get better rates. Many software companies have much cheaper individual plans, so it’s worth double-checking you’re taking advantage of your one-man-band status.
Look at ways to bring more money into your business
We’ve explored the topic of outgoing expenses, but there’s another approach to enhancing your cash flow – bolstering your sales and generating more revenue, a strategy with a longer-term impact.
Amp up your marketing efforts
It might seem counterintuitive to spend more when you’re looking to save, but investing in marketing can yield profitable results in terms of increased sales. There will be short-term costs, but in the long run, effective marketing can substantially contribute to a positive cash flow.
Nobody enjoys chasing after debts, yet doing so can significantly boost your business, especially in challenging times. Here are some ways to streamline the process:
• Implement a payment gateway system like Stripe for invoice collection.
• Make it as easy as possible for people to pay you by ensuring your bank details are clear on each invoice.
• Enable invoice reminders via your accounting software.
• Consider asking clients for an upfront deposit or partial payment.
• Implement a strict debtors policy and make sure all staff are aware of it.
Resist the urge to indiscriminately slash expenses. Cutting back in the wrong areas might hinder your business’ growth. Make it a priority to retain your staff, exploring other areas to trim costs or increase revenue instead.
If sales volume is a challenge, consider adjusting your pricing strategy. As inflation rises and suppliers hike prices, it’s crucial to respond accordingly or risk bearing the brunt of the impact.
You can’t control everything about your business. Stay aware of external factors that might impact the way buyers behave..
During uncertain times, empathy goes a long way. Understanding your customers’ fears and concerns can inform strategies to drive sales. Depending on their situation, you might be able to offer more services or adjust prices without adverse reactions.
Do you know how competing businesses are coping with the cost of living crisis? Can you see what kind
of strategy they’ve adopted? Understanding their strategies can provide insights about your place in the market and potential customer perceptions.
There’s a silver lining in every cloud. Reduced sales? Use this time to review and streamline your business processes. Examine the reasons for changing sales patterns and adapt accordingly.
Making decisions based on accurate up to date financials is more important than ever. Use actual business data to create your strategies, not assumptions. Don’t create a strategy based on what you think is happening, but on what is actually happening.
As the saying goes, “the numbers don’t lie”. Before making decisions, know your numbers!
In an unstable economic and consumer landscape, your data remains a reliable constant. Accurate, indepth financial data is crucial to making informed business decisions.
Working closely with your business partners is a game changer
A good bookkeeper and accountant can provide the right solutions at the right time. Their expertise on your business can be instrumental in improving its financial health. They can help interpret the numbers, understand the situation, and guide your future steps.
For further support through the cost of living crisis and beyond, feel free to contact us on 0468 944130. We’re here to assist!
Sandra Price www.tradiebookkeepingsolutions.com.au
It’s frightening to know but there are so many businesses that fail! Statistics show that it could happen to 80% of them in the first 5 years.
The main problem is that we get so attached to doing the same thing, we fail to notice the business going into a decline. Often this is because we subconsciously train ourselves not to expect the best and take the ‘that’ll do’ approach.
The old saying, ‘Better the devil you know than the one you don’t’ is unfortunately a message of making us settle for something that isn’t necessarily suitable to operate a good business. In life we get by with this sort of mentality but in business, it is not acceptable, as doing so can lead to disaster.
SO! What is it that makes a ‘business a success’ and what does it take to make a ‘good business owner’.
The factor for success is knowing how to listen to others and not being afraid to ask questions. These are major problems a business owner has, (especially
for men), as we are too proud to admit we are doing something wrong. We may think we know everything and don’t require help, but there is so much to learn in running a successful business. You don’t always have to go to a professional to get advice either (but I do advise it), as it’s easy as taking note of how others are operating. See what they are doing ‘right’ and adapt it in your business. See what they are doing ‘wrong’ and apply the opposite.
In the days when I first started in business (when there were no avenues where you could seek advice), I applied the ‘watch and learn’ method and took full note of my opposition.
How did they present themselves personally? (That question was answered every time I went to the paint shop). What condition were their vehicles because in a clients’ mind, a neat and tidy vehicle can reflect on how a tradesperson would treat their home.
Every so often I asked the client their opinion of how I presented myself compared to the other painters. The feedback I received was always positive so I knew I was doing that part correct. Getting a ‘sneak-peak’ at the oppositions’ quotes also came in handy. This was not to check on their price but how they had written it out. In a lot of cases, they were just scribbled out or on a back of a business card (if they had business cards) so I always fully detailed my quotes. One other thing I made sure of was to turn up on time as I knew in 75% of the cases, the other painter did not. This really annoyed the clients and why they chose me.
By studying what other painters ‘were’, and ‘were not’ doing, my business became successful. I understood what the client wanted and expected from a tradesperson and so, I became a complete package; a professional in my trade, not just a person that applies paint to a wall.
Nowadays, because of the internet, there are many avenues where you can seek advice from. There are professionals out there that want to help you become more successful and being part of the ‘Aussie Painters Network’ group, is just one of them.
When you do get advice though, be open-minded and look at the changes you may have to do. Be willing also to take advantage of changes in technology as it doesn’t pay to behind the times. It may be completely opposite to how you have been doing things, but it could possibly be what your business needs to turn things around, especially if you have noticed that your profit margin has declined over the years.
Jim Baker www.mytools4business.com
st st
221 1 March 2024 March 2024
The APN Business Breakthrough Webinar, where we will unveil the secrets to success that every painting business needs to thrive.
When we are procrastinating, avoiding exercise or some other habit we want to create, or avoiding taking on a difficult project … the underlying cause is rarely what we think it is.
We think that all we need to do is do the thing we’re avoiding, and stop procrastinating. Simple! But then when we fail, we wonder what’s wrong with us.
The problem is that we aren’t really addressing the real cause. We’re addressing the symptom, and while there are tactics that can help with the symptom, they rarely last for very long.
So what causes our avoidance? An underlying emotional current. Some kind of inner state.
Let me walk you through it:
• You’re feeling a certain way — because of the way your life is going, you might be feeling overwhelmed, anxious, afraid, sad, lonely, emotionally exhausted, frustrated, battered by life.
• You resist that emotional state — you don’t want to feel that way, so you resist letting yourself feel it. This resistance is usually in the form of distraction, like online distraction, busywork, messaging, etc.
• Facing difficult things is harder in this emotional state — turning toward a difficult project, or clearing clutter, or dealing with a thousand
emails … these are all overwhelming in the best of times. But being in a difficult emotional state makes it even harder. No wonder we’re avoiding!
• We try to overcome our avoidance with tactics — we try to coerce ourselves to do the thing we’re avoiding, with tactics. “No distractions, only work today!” And it sometimes works, but because the underlying emotional state hasn’t been addressed, it never lasts long. We go back to avoidance.
• This makes us feel bad, and worsens the underlying emotional state — we feel bad about ourselves when we revert to avoidance. This only adds to whatever emotional state was already there. Go back to the first step above, and repeat, with some added emotional stress!
Any of this sound familiar? It’s what we’re all going through, every day, usually without knowing it. Even if we’re aware, we’re rarely actually facing it, because we’re resisting the emotional state.
So the two problems to address are:
1. We’re unaware of the emotional state causing avoidance.
2. We resist the emotion, whether we’re aware of it or not.
Let’s talk about how to address these issues, so we can address the real cause of avoidance.
The key is to notice when you’re avoiding something. Is there a project, task, conversation, or personal habit you’re putting off?
Alternatively, you could notice that you’re caught up in distraction — messaging, social media, email, Youtube, Netflix, news sites, forums, etc. Doing a little of this is always cool, but if you are caught up doing it a lot, then this is a sign you’re probably avoiding.
Once you notice your avoiding or caught up in distraction … see if you can notice your underlying inner state. Are you feeling sad, grieving or lonely? Overwhelmed, afraid, anxious? Frustrated, angry, resentful, burdened? Hurt, unloved, unseen?
At this point, you don’t have to do anything about the emotional state. Just notice. The more you bring awareness, the more you’ll be able to address it at some point.
If you’re avoiding or caught in distraction, it’s a good bet that you’re resisting the emotion. That means that you don’t want to feel it — you feel there’s something wrong with feeling sad, angry, anxious, etc. In your head, you might think there’s nothing wrong with these feelings … but there’s a part of you that doesn’t want to feel them. Maybe you think you can’t handle it, or it’s too hard.
There’s nothing wrong with resisting the emotion. It’s human to resist! But as long as we’re resisting it, it will have a power over us, and avoidance becomes unavoidable.
If you’re up for letting go of your resistance, the practice is just to let yourself feel the emotion. Just feel sad, lonely, anxious, frustrated. Sit in stillness for a few minutes, and just let yourself feel it. The main instruction is to relax — let your body and mind relax, as the emotion comes up.
Surrender to the emotion. It’s rarely that difficult, and will usually only last for a minute or three. If it’s too intense, you can stop — do something to take your mind off it.
Whether you’re able to surrender to it or not, give yourself a few minutes of self-care after. Give yourself compassion, love, a nice warm cup of tea. Get a hug from someone, or talk to a friend or therapist. And acknowledge yourself for whatever you were able to do.
Putting this all together, here’s how to create a shift so you aren’t avoiding as much …
Notice when you’re avoiding or stuck in distraction.
Notice the underlying inner emotional state.
Surrender to the emotional state, letting yourself feel it. Relax.
Give yourself some love and self-care.
Once you’ve done that, you should be much clearer. Now see if your heart is more open to taking on what you’re avoiding.
Just do 5 minutes of what you’re avoiding, to start with, to give yourself an emotional victory. It’ll open your heart even more.
Dance in victory!
Leo Babauta ZEN HABITS
The just-released report of the inquiry into price gouging and unfair pricing conducted by Allan Fels for the Australian Council of Trades Unions does more than identify the likely offenders.
It finds the biggest are supermarkets, banks, airlines and electricity companies.
It’s not enough to know their tricks. Fels wants to give the Australian Competition and Consumer Commission more power to investigate and more power to prohibit mergers.
But it helps to know how they try to trick us, and how technology has enabled them to get better at it. After reading the report, I’ve identified eight key maneuvers.
Otherwise known as Rocket and Feather, this is where businesses push up prices quickly when costs rise, but cut them slowly or late after costs fall.
It seems to happen for petrol and mortgage rates, and the Fels inquiry was presented with evidence suggesting it happens in supermarkets.
Brendan O’Keeffe from NSW Farmers told the inquiry wholesale lamb prices had been falling for six months before six Woolworths announced a cut in the prices of lamb it was selling as a “Christmas gift”.
A loyalty tax is what happens when a business imposes higher charges on customers who have been with it for a long time, on the assumption that they
won’t move.
Energy companies like loyalty taxes. AAP/Dan Peled
The Australian Securities and Investments Commission has alleged a big insurer does it, setting premiums not only on the basis of risk, but also on the basis of what a computer model tells them about the likelihood of each customer tolerating a price hike. The insurer disputes the claim.
It’s often done by offering discounts or new products to new customers and leaving existing customers on old or discontinued products.
It happens a lot in the electricity industry. The plans look good at first, and then less good as providers bank on customers not making the effort to shop around.
Loyalty taxes appear to be less common among mobile phone providers. Australian laws make it easy to switch and keep your number.
3. Loyalty schemes that provide little value
Fels says loyalty schemes can be a “low-cost means of retaining and exploiting consumers by providing them with low-value rewards of dubious benefit”.
Their purpose is to lock in (or at least bias) customers to choices already made.
Examples include airline frequent flyer points, cafe cards that give you your tenth coffee free, and supermarket points programs. The purpose is to lock in (or at least bias) consumers to products already chosen.
The Australian Competition and Consumer Commission has found many require users to spend a lot of money or time to earn enough points for a reward.
Others allow points to expire or rules to change without notice or offer rewards that are not worth the effort to redeem.
They also enable businesses to collect data on spending habits, preferences, locations, and personal information that can be used to construct customer profiles that allow them to target advertising and offers and high prices to some customers and not others.
4. Drip pricing that hides true costs
The Competition and Consumer Commission describes drip pricing as “when a price is advertised at the beginning of an online purchase, but then extra fees and charges (such as booking and service fees) are gradually added during the purchase process”.
The extras can add up quickly and make final bills much higher than expected.
Airlines are among the best-known users of the strategy. They often offer initially attractive base fares, but then add charges for baggage, seat selection, in-flight meals and other extras.
Read more: Junk fees and drip pricing: underhanded tactics we hate yet still fall for
5. Confusion pricing
Related to drip pricing is confusion pricing where a provider offers a range of plans, discounts and fees so complex they are overwhelming.
Financial products like insurance have convoluted fee structures, as do electricity providers. Supermarkets do it by bombarding shoppers with “specials” and “sales”.
When prices change frequently and without notice, it adds to the confusion.
6. Algorithmic pricing
Algorithmic pricing is the practice of using algorithms to set prices automatically taking into account competitor responses, which is something akin to computers talking to each other.
When computers get together in this way they can act as it they are colluding even if the humans involved in running the businesses never talk to each other.
It can act even more this way when multiple competitors use the same third-party pricing algorithm, effectively allowing a single company to influence prices.
7. Price discrimination
Price discrimination involves charging different customers different prices for the same product, setting each price in accordance with how much each customer is prepared to pay.
Banks do it when they offer better rates to customers likely to leave them, electricity companies do it when they offer better prices for business customers than households, and medical specialists do it when they offer vastly different prices for the same service to consumers with different incomes.
It is made easier by digital technology and data collection. While it can make prices lower for some customers, it can make prices much more expensive to customers in a hurry or in urgent need of something.
Excuse-flation is where general inflation provides “cover” for businesses to raise prices without justification, blaming nothing other than general inflation.
It means that in times of general high inflation businesses can increase their prices even if their costs haven’t increased by as much.
On Thursday Reserve Bank Governor Michele Bullock seemed to confirm that she though some firms
were doing this saying that when inflation had been brought back to the Bank’s target, it would bemuch more difficult, I think, for firms to use high inflation as cover for this sort of putting up their prices
A political solution is needed
Ultimately, our own vigilance won’t be enough. We will need political help. The government’s recently announced competition review might be a step in this direction.
The legislative changes should police business practices and prioritise fairness. Only then can we create a marketplace where ethics and competition align, ensuring both business prosperity and consumer wellbeing.
This isn’t just about economics, it’s about building a fairer, more sustainable Australia.
David Tuffley Senior Lecturer in Applied Ethics & CyberSecurity, Griffith University
If you’re starting a new business, or simply reviewing your existing needs, knowing what types of insurance you need is vital.
Running a business – small or large – involves multiple risks, and therefore multiple forms of insurance may be needed.
In this guide, we’ll take at which types of insurance are compulsory for a business, which ones are considered vital, and some which you should at least be aware of.
If you’re also professional advice rather than reading our guide, please call our office on 1800 808 800 to speak with one of our experienced business insurance brokers.
Insurance checklist
We’ll go much deeper in this guide, but to get started, here’s a quick guide on the types of insurance which may be needed for your business.
Types of insurance a business may need:
Public Liability Insurance – Depending on your licensing requirements and state
Public Liability + Glass Insurance – If you’re signing a lease
Personal Accident Insurance – Required under some contracts
Professional Indemnity Insurance – Depending on your occupation
Plant & Equipment Insurance – If you have finance on your gear
Workers Compensation Insurance – If you employ staff
Those are the types of business insurance that can be considered mandatory, but there are many other types of insurance that you should certainly consider.
In terms of their need, many types of Trade Business insurance can be viewed in a similar way to comprehensive car insurance.
Whilst comprehensive car insurance is not required by law, most of us know that it would be crazy to drive around without it.
Many forms of business insurance are the same. They might not be mandatory, but operating a business without them is not a good idea…
What insurance is compulsory for a business?
The answer to this question will depend on the type of business you are running, and in some cases, which state your business is operating in.
It can also depend on the types of contracts you are entering. You might find there is no legal requirement for a certain type of insurance, but the contract you are signing requires it.
We’ll break this section down into the different types of insurance.
When it comes to compulsory forms of insurance, and especially with public liability insurance, often this is driven by your licensing requirements.
For example, if you’re an electrician in Queensland, you’ll need to have public liability insurance along with consumer protection insurance.
Without these two, you won’t be able to obtain or renew your electrical contractor’s licence.
Many other Australian states have similar public liability insurance requirements for electricians, along with plumbers and certain other trades.
Most contracts in the construction industry will also include a requirement for public liability insurance.
If you’re subcontracting to someone else, you’ll most likely find that the contract will require public liability cover, and you’ll be required to provide evidence of your insurance.
For those businesses who are operating from leased premises, such as a workshop, warehouse or office, your lease will almost always have a requirement for public liability insurance, along with glass cover.
When it comes to the main types of insurance that a business needs, public liability will generally be at the top of the list.
Public liability insurance will cover your business in the event that you cause property damage or personal injury to a third party.
Some professions will have a requirement to hold professional indemnity insurance. Whilst this generally isn’t relevant to the trades we deal with, it is for professions such as accountants and financial planners.
Other occupations more closely related to the trades might not have mandatory requirements for professional indemnity, but that doesn’t need you don’t need it.
If you’re offering any sort of testing or inspection service, or providing written reports that clients are specifically paying you for, you should have professional indemnity insurance.
Whilst there is no legal requirement for any business owner to hold personal accident insurance, it is a common requirement within contracts.
Many contracts within the construction industry will require that all subcontractors and self-employed workers have their own personal accident insurance.
Even if your contracts don’t require it, as a self-employed tradie it’s so important to insure your income.
If you’re unable to work for a period of time due to injury or illness, you won’t be earning any money and you won’t have access to sick leave.
Personal accident insurance is an absolute must for any self-employed business owner.
Plant and equipment insurance isn’t mandatory for any licensing reasons, but it may be mandatory if you have finance owing on the item.
If you’ve used asset finance to purchase any of your equipment (typically the big-ticket items) the finance company will require that the item is comprehensively insured.
When purchasing a piece of plant or machinery using secured finance, typically the finance company will require proof of the insurance before they settle the loan and release the equipment to you.
The insurance will need to specifically mention the finance company as an interested party.
This is the same if you are purchasing a house or a car using finance, and the lender will want to protect their investment by ensuring that the asset is properly insured.
Although we don’t generally deal with workers compensation insurance, this is another form of insurance that a business will need.
The rules vary slightly between the states, but generally this form of business insurance will be needed if you employ staff, and in some states, even if you don’t employ staff but are a working director yourself.
Other types of insurance a business will need
We’ve covered off the most commonly needed types of business insurance above, but your insurance package certainly shouldn’t stop there.
If we’re talking tradies, then tool insurance needs to be near the top of your list.
As a business owner, if you don’t have your tools to work you most likely won’t be able to earn a living.
By having tool insurance in place, you’ll be able to replace your gear relatively quickly and get back to work.
Car insurance is an obvious one if you’re using a vehicle in your business, which is pretty much every trade business!
It’s important that your car insurance specifically notes that your vehicle is being used for business purposes. If you’ve insured it as a private vehicle and you have an accident whilst working, you might have difficulty making a claim.
As your business grows you may find that it needs multiple other forms of business insurance.
By this stage you should have a great insurance broker who’ll be able to review your cover each year to ensure you have the insurance that your business needs.
In this guide we’ve covered off the main types of insurance that a business will need, or at least may need depending on your circumstances.
These are the five main ones, depending on the factors we outlined:
• Public Liability Insurance
• Personal Accident Insurance
• Professional Indemnity Insurance
• Plant & Equipment Insurance
• Workers Compensation Insurance
With any of these business insurance types you could take the ‘DIY’ approach and set them up yourself.
We strongly recommend speaking with an insurance broker who understands your industry and can help to ensure you are getting the right types of insurance that your business needs.
If you think you know what you need and just want some quotes, we can help you.
If you have no idea what you need, and you’d like one of our experienced brokers to run through everything with you, we can help with that too.
To take the next step in properly insuring your trades business, call us on 1800 808 800 or complete our online quote request.
We can help with all of the types of business insurance you need, as well as those which just make good business sense to have.
Just because you know you need public liability insurance, doesn’t mean you know which options you might need, or which insurers are better suited to your business.
At Trade Risk we’ve been helping business owners for over a decade. We understand the trades, we understand the construction industry, and we certainly understand insurance!
There's a common adage that poses a question: can something be fast, cheap, and good all at once? The answer typically given is that you can only have two out of the three. This principle often holds true in various contexts, including the realm of hiring services. A recent anecdote shared on social media illustrates this point vividly.
In my extensive 30-year tenure within the industry, I've overseen countless projects from inception to completion. Additionally, I've conducted inspections on behalf of clients, providing me with a comprehensive view of the quality and professionalism prevalent in the field.
Recently, however, I encountered a case that stands out as one of the worst I've witnessed.
It involved a painter who purported to offer top-notch service at a rapid pace and an affordable price—a trifecta that seemed too good to be true. As it turned out, it was indeed too good to be true.
The series of missteps began with the initial consultation. Instead of meeting the client on-site to assess the project and provide an accurate quote, the painter opted to provide an estimate remotely, devoid of a thorough understanding of the scope of work required. Consequently, when the work commenced, it quickly became apparent that crucial details were overlooked.
Compounding the issue was the absence of a formal contract outlining the terms and expectations of the project. This lack of documentation left the client vulnerable and exposed to potential disputes down the line. Furthermore, a substantial deposit was paid upfront, further entrenching the client in a precarious position.
As the project progressed, it became increasingly evident that the painter's promises were hollow.
Quality was sacrificed for speed, resulting in shoddy workmanship characterized by overfilled VJ's, insufficient filling in other areas, and overspray contaminating surfaces indiscriminately. The extent of the damage was staggering, encompassing everything from glass doors to intricate lead-light windows.
In the aftermath of this debacle, what emerged was a testament to the power of community and solidarity. Despite the dire situation, individuals from the network I've cultivated over the years rallied together, offering their assistance to rectify the mess left behind.
While this unfortunate episode serves as a cautionary tale, it also underscores the importance of diligence and discernment when selecting service providers. The allure of cheap prices and swift turnaround times can often obscure underlying deficiencies in quality and professionalism.
As we navigate the intricacies of our respective industries, let us remain vigilant in upholding standards of excellence and integrity. By doing so, we can mitigate the risks associated with subpar service and ensure that our projects are characterized by quality craftsmanship and client satisfaction.
I'll continue to provide updates on the progress of this particular project, serving as a reminder of the pitfalls to avoid and the resilience of community in times of need.
Keep painting on!
Nigel Gorman nigel@aussiepaintersnetwork.com.au07 3555 8010
If you want to implement a business plan to grow your business, you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double your number of customers, for example. Scaling means increasing your revenue without a substantial increase in the resources used.
For example, email marketing is a great way to scale. You write one marketing email and it can be seen by 100 people or 100,000 people, without any extra effort from you. Scaling is a way of efficiently using your resources to increase revenue, without incurring additional costs—or only incremental costs.
Here are some tips that should be part of your business plan to effectively scale your business with minimal effort.
1. Keep it simple
Processes that are overly complex take more time and energy. They also come with a higher risk of errors. Scaling your business doesn’t have to be complex—in fact, complexity can often slow progress and waste your time.
Keep your processes simple. That will help you not only maintain control of your business, but enable your employees and your customers to understand what you do and to buy in. If it seems too complicated, avoid it.
2. Use scalable administrative processes
Scalable processes allow you to operate efficiently because they enable you to take action quickly, with less effort and input. Technology makes it easier for companies to access software that increases productivity and revenues while decreasing time spent on administrative tasks.
For example, having an online invoicing tool helps you scale because you can quickly create invoices, follow up with clients and track project management, without having to do so manually. That saves you time and energy that can be better spent in other areas. Meanwhile, marketing automation tools can bring in an additional $50,000 a year but only cost around $5,000 a year.
Examine the activities you perform regularly and explore whether there’s a tool that could automate them.
Don’t speculate about what is and isn’t working in your business, use data to determine where you should spend money, and where you should stop. Business owners have access to a wealth of data-driving metrics, everything from how customers interact with your website to which marketing initiatives are working, to how long it takes to convert customers.
Use that information to make effective spending and operational decisions, rather than guessing at what is and isn’t working.
Chances are, you can scale your offerings to encourage repeat customers. Automatic renewals or subscriptions can increase customer retention rates without you putting in the effort of chasing people down. Rewards programs nurture customer loyalty.
Explore whether you can offer repeatable pricing packages as well. Even if you offer professional services, selling packages saves you from manually quoting on every individual project. There is likely a way that you can implement subscriptions or service packages to save you time and hassle.
Scaling your business is an important way to increase revenue without significantly increasing your expenses. If you automate your processes, scale your offerings, focus on data and keep your systems simple, you can scale your business effectively and efficiently.
If you have any questions on the best ways to grow your business, feel free to arrange a FREE No Obligation Meeting with me. Call my office on 07 3399 8844, or just visit our website at www.straighttalkat.com.au and complete your details on our Home page to request an appointment.
Copyright © 2024 Robert Bauman.
As a commercial law firm, one common question we see raised regularly is, “What exactly does Pty Ltd mean in Australia?” Understanding this concept is crucial for anyone looking to venture into the business world in Australia. In this blog, we’ll break down the meaning of Pty Ltd, explore the differences between small and large Pty companies, and outline the requirements for Pty Ltd companies, from a legal standpoint.
“Pty” stands for “Proprietary.” In the Australian business context, this term indicates that the company is privately owned. Shareholders in proprietary companies are typically fewer and more closely associated than in public companies. The key characteristics of a Pty company include:
• Limited number of shareholders (no more than 50 non-employee shareholders).
• Restrictions on the public trading of shares.
• Often family-owned or small businesses.
“Ltd” stands for “Limited.” This term signifies that the company’s liability is limited. The concept of limited liability is fundamental in corporate law. It means that the shareholders of the company are not personally liable for the company’s debts beyond the amount of capital they invested. In essence:
• Shareholders’ personal assets are protected.
• Liability is confined to the amount invested in the company.
• Encourages investment as the risk is capped.
In Australia, Pty companies are categorised into ‘small’ and ‘large,’ based on certain criteria set by the Australian Securities and Investments Commission (ASIC).
Large Proprietary Company: For financial years commencing on or after 1 July 2019, a proprietary company is considered ‘large’ if it meets at least two of the following criteria:
• Consolidated revenue for the financial year of the company and any entities it controls is $50 million or more.
• The value of consolidated gross assets at the end of the financial year of the company and any entities it controls is $25 million or more.
• The company and any entities it controls have 100 or more employees at the end of the financial year.
Large proprietary companies are required to prepare and lodge a financial report and a director’s report each financial year, and their accounts must be audited unless ASIC grants relief.
Small Proprietary Company: A proprietary company that does not meet at least two of the above criteria is classified as ‘small’. In some circumstances, small proprietary companies may also have to lodge financial reports.
These classifications are important as they determine the specific legal and financial reporting requirements that the company must adhere to. Large proprietary companies, due to their size and potential impact, are subject to more rigorous regulatory requirements compared to small proprietary companies.
For further detailed information, have a look at Rise Legal’s blog: 5 Things you need to know before starting a new business
Operating as a Pty Ltd company in Australia involves compliance with certain legal requirements. These include:
• Registration with ASIC, including the appointment of a director (who must reside in Australia).
• Keeping financial records that correctly record and explain transactions and financial position.
• Annual review and solvency resolution.
• Compliance with taxation obligations, including the submission of an annual tax return.
For small Pty companies, the compliance burden is usually lighter, especially in terms of financial reporting and auditing. Large Pty companies, due to their size and impact, face more rigorous requirements.
Understanding the meaning and implications of operating a Pty Ltd company is essential for business owners in Australia. It involves a blend of legal, financial, and administrative knowledge. As a commercial law firm, we guide our clients through these
complexities, ensuring that they not only comply with legal requirements but also make informed decisions that benefit their business’s growth and sustainability.
Remember, while this information provides a general overview, legal advice tailored to your specific circumstances is invaluable. Don’t hesitate to contact Rise Legal for personalised guidance or book in a free Discovery Call.
Disclaimer: This blog post is intended for informational purposes only and should not be considered legal advice. Consult with a qualified commercial lawyer for personalised advice related to your specific circumstances.
The importance of specialized training in the application of protective coatings and graffiti removal cannot be overstated in the painting and decorating industry. As these areas have evolved, they have become more technical and specialized, necessitating a deeper understanding and skill set. This is evidenced by the introduction of a license class for resin flooring in some states of Australia, along with a certification (Cert 3) in resin flooring. Such developments highlight the industry's recognition of the need for specialized knowledge and skills in applying protective coatings and managing surfaces, including graffiti removal.
Proper surface preparation is crucial in the application of protective coatings. Failure to prepare surfaces correctly can lead to several potential problems, undermining the durability and efficacy of the coating. These issues not only affect the aesthetic appeal of the surface but can also compromise its protective qualities, leading to increased maintenance costs and reduced lifespan. Training in this field helps professionals understand the science behind surface preparation and coating application, ensuring they can effectively protect surfaces against various environmental factors and vandalism.
1. Adhesion Failure: This occurs when the coating does not properly adhere to the substrate, often due to inadequate surface preparation or contamination.
2. Blistering: Moisture entrapment beneath the coating layer can lead to blistering, compromising the coating's integrity.
3. Cracking and Flaking: Coatings may crack or flake due to the application of too thick a layer or due to the substrate's movement or expansion.
4. Chalking: Exposure to UV light can degrade the coating, leading to a powdery surface layer.
5. Corrosion Underneath Coating: Inadequate protection of the substrate can allow corrosion to occur beneath the coating.
6. Discoloration: Various factors, including UV exposure and chemical reactions, can cause the coating to discolor over time.
Understanding the differences between sacrificial and non-sacrificial coatings is critical in the protective coatings industry. Sacrificial coatings, such as anti-graffiti coatings, are designed to be removed after they have been defaced, taking the graffiti with them.
This type of coating protects the underlying surface by sacrificing itself. Non-sacrificial coatings, on the other hand, are designed to resist graffiti and other contaminants, allowing for cleaning without the need to reapply the coating. This distinction is essential for professionals in selecting the appropriate coating type based on the specific needs and environmental conditions of the project.
Training in the application of protective coatings and graffiti removal is essential for professionals in the painting and decorating industry. Such specialized training ensures that practitioners are equipped with the knowledge and skills to correctly prepare surfaces, apply coatings effectively, and understand the critical differences between types of coatings. This not only enhances the longevity and appearance of surfaces but also contributes to the sustainability and maintenance of properties, making it an indispensable aspect of the industry.
If you don't understand and get the required training for the use of these products, then you could be up for thousands if not tens of thousands of dollars to rectify the work you have done. Ensure you fully understand what you are doing prior to using these products.
Nigel Gorman nigel@aussiepaintersnetwork.com.au 07 3555 8010
For a small business proprietor, the task of financial management can be quite formidable. Keeping tabs on expenditures, payments, and cash flow can feel overwhelming, especially when dealing with debt. Whether it’s a business loan, a line of credit, or a business credit card, these financial tools can enable your company to hire new staff, procure inventory, buy equipment, and fuel growth.
However, excessive debt can become an unsustainable financial burden. Effective debt management is paramount for the long-term success and stability of any business. Continue reading for some valuable tips on how to effectively manage debt as a small business owner.
• Prioritize Your Debts: The first step in managing debt is to discern which obligations require immediate attention and which can be deferred. Prioritizing your debts helps you tackle the most urgent ones first and prevents defaulting on payments. Defaulting on loans and credit can lead to a drop in your business credit score, which can have long-term financial repercussions.
• Debt Consolidation: Consider consolidating your debts into a single monthly payment. This simplifies debt management, reducing the risk of missed payments and late fees. Debt consolidation can also result in lower interest rates for high-interest loans, ultimately saving you money on interest expenses.
• Boost Your Revenue: One of the most effective ways to manage debt is by increasing your business’s income. Evaluate your existing offerings, explore new markets, or invest in products or services that align with your brand’s vision. The more revenue your business generates, the more funds you’ll have to allocate toward debt repayment, minimizing additional interest costs.
• Trim Expenses: Reducing costs and effectively managing expenses can also contribute to debt management. This may involve negotiating with suppliers for better pricing, adopting energy efficient equipment, or renegotiating loan terms to lower monthly payments. Avoiding unnecessary expenditures can free up cash for debt repayment while simultaneously building savings for other business needs.
• Seek Professional Guidance: If you find it challenging to manage your debt, consider seeking professional advice. Professionals can help identify areas for improvement, offer guidance on debt consolidation options, and assist in creating a budget that aligns with your business objectives.
Debt management can indeed be a source of stress and complexity for small business owners, and we acknowledge the challenges you face. It’s important to remember that you’re not alone in navigating the intricacies of business debt management. Many small business owners grapple with similar issues and ultimately find their way to financial stability and success.
We are here to assist you. Don’t hesitate to reach out to us via phone 0468944130 or message for support and guidance in managing your business debt.
Sandra Price“The quieter you become, the more you are able to hear.” - Rumi
There’s rarely a moment in the day when most of us stop moving and stop the noise. For most of us, we’re working, we’re moving, we’re driving, we’re listening to things on our headphones, we’re watching things, we’re filling up the little spaces by checking our phones.
This isn’t wrong — it’s a very human tendency to want to be busy, productive, filling every space with something useful or entertaining.
What happens is something magical: we start to discover a new way of being alive, and a deeper experience starts to reveal itself to us.
What does it mean to become quiet? There isn’t a simple answer to this, but here are some of what I’ve been learning:
• It means slowing down for at least a few minutes, physically — refrain from moving around doing a lot of things, refrain from doing a bunch of tasks on your computer or phone, but instead just sit or come to some kind of stillness or slowness.
• It doesn’t mean you need to meditate — though of course that’s one way to do it. Instead, you
could go for a quiet walk in nature, or sit watching the sunset, or lie in a hammock and just feel the breeze.
• Move away from technology, at least for a few minutes. Disconnect. Let go of reading and listening as well. Just sit still or move slowly, not trying to get anything done or consume anything.
• It means you let go of being productive or being entertained. You don’t need to achieve anything, prove anything, be excited. You let go of these kinds of compulsions, even for a few minutes.
It means you don’t need to feel a certain way, or avoid feeling a certain way. For example, a lot of people want to feel productive, competent, entertained, so we do whatever we can to get those kinds of feelings. Also, we don’t want to feel bored, lonely, sad, helpless … so we do everything we can in order to avoid these feelings. Becoming quiet means we can allow ourselves to feel however we feel, just allowing it to be our experience. This gives us a freedom for life to be just as it is, and for ourselves to be just how we are, however we’re feeling.
Stillness and quiet aren’t the sexiest things, where you can make a lot of money or get a bunch of followers or viewers. We don’t usually realize we’re craving quiet. But in my experience, this is where the deepest experience of life lies, in the quietude.
What might you hear in the stillness and quiet? What life has to say.
“In stillness, the world is restored.” — Lao Tzu
Leo Babauta ZEN HABITS
Remember the sadness that came with the last time you failed miserably at something? Or the last time you were so anxious about an upcoming event that you couldn’t concentrate for days?
These types of emotions are unpleasant to experience and can even feel overwhelming. People often try to avoid them, suppress them or ignore them. In fact, in psychology experiments, people will pay money to not feel many negative emotions. But recent research is revealing that emotions can be useful, and even negative emotions can bring benefits.
In my emotion science lab at Texas A&M University, we study how emotions like anger and boredom affect people, and we explore ways that these feelings can be beneficial. We share the results so people can learn how to use their emotions to build the lives they want.
Our studies and many others have shown that emotions aren’t uniformly good or bad for people. Instead, different emotions can result in better outcomes in particular types of situations. Emotions seem to function like a Swiss army knife – different emotional tools are helpful in specific situations.
Sadness can help you recover from a failure
Sadness occurs when people perceive that they’ve lost a goal or a desired outcome, and there’s nothing
they can do to improve the situation. It could be getting creamed in a game or failing a class or work project, or it can be losing a relationship with a family member. Once evoked, sadness is associated with what psychologists call a deactivation state of doing little, without much behavior or physical arousal.
Sadness also brings thinking that is more detailed and analytical. It makes you stop and think.
The benefit of the stopping and thinking that comes with sadness is that it helps people recover from failure. When you fail, that typically means the situation you’re in is not conducive to success. Instead of just charging ahead in this type of scenario, sadness prompts people to step back and evaluate what is happening.
When people are sad, they process information in a deliberative, analytical way and want to avoid risk. This mode comes with more accurate memory, judgment that is less influenced by irrelevant assumptions or information, and better detection of other people lying. These cognitive changes can encourage people to understand past failures and possibly prevent future ones.
Sadness can function differently when there’s the possibility that the failure could be avoided if other people help. In these situations, people tend to cry and can experience increased physiological arousal, such as quicker heart and breathing rates. Expressing sadness, through tears or verbally, has the benefit of potentially recruiting other people to help you achieve your goals. This behavior appears to start in infants, with tears and cries signaling caregivers to help.
Anger prepares you to overcome an obstacle
Anger occurs when people perceive they’re losing a goal or desired outcome, but that they could improve the situation by removing something that’s in their way. The obstacle could be an injustice committed by another person, or it could be a computer that repeatedly crashes while you’re trying to get work done. Once evoked, anger is associated with a “readiness for action,” and your thinking focuses on the obstacle.
The benefit of being prepared for action and focused on what’s in your way is that it motivates you to overcome what’s standing between you and your goal. When people are angry, they process information and make judgments rapidly, want to take action, and are physiologically aroused. In experiments, anger actually increases the force of people’s kicks, which can be helpful in physical encounters. Anger results in better outcomes in situations that involve challenges to goals, including confrontational games, tricky puzzles, video games with obstacles, and responding quickly on tasks.
Expressing anger, facially or verbally, has the benefit of prompting other people to clear the way. People are more likely to concede in negotiations and give in on issues when their adversary looks or says they are angry.
Anxiety helps you prepare for danger
Anxiety occurs when people perceive a potential threat. This could be giving a speech to a large audience where failure would put your self-esteem on the line, or it could be a physical threat to yourself or loved ones. Once evoked, anxiety is associated with being prepared to respond to danger, including increased physical arousal and attention to threats and risk.
Being prepared for danger means that if trouble brews, you can respond quickly to prevent or avoid it. When anxious, people detect threats rapidly, have fast reaction times and are on heightened alert. The eye-widening that often comes with fear and anxiety even gives people a wider field of vision and improves threat detection.
Anxiety prepares the body for action, which improves performance on a number of tasks that involve motivation and attention. It motivates people to prepare for upcoming events, such as devoting time to study for an exam. Anxiety also prompts protective behavior, which can help prevent the potential threat from becoming a reality.
There is less research on boredom than many other emotions, so it is not as well understood. Researchers debate what it is and what it does.
Boredom appears to occur when someone’s current situation is not causing any other emotional response. There are three situations where this lack can occur: when emotions fade, such as the happiness of a new car fading to neutral; when people don’t care about anything in their current situation, such as being at a large party where nothing interesting is happening; or when people have no goals. Boredom does not necessarily set in just because nothing is happening – someone with a goal of relaxation might feel quite content sitting quietly with no stimulation.
Psychology researchers think that the benefit of boredom in situations where people are not responding emotionally is that it prompts making a change. If nothing in your current situation is worth responding to, the aversive experience of boredom can motivate you to seek new situations or change the way you’re thinking. Boredom has been related to more risk seeking, a desire for novelty, and creative thinking. It seems to function like an emotional stick, nudging people out of their current situation to explore and create.
People want to be happy. But research is finding that a satisfying and productive life includes a mix of positive and negative emotions. Negative emotions, even though they feel bad to experience, can motivate and prepare people for failure, challenges, threats and exploration.
Pleasant or not, your emotions can help guide you toward better outcomes. Maybe understanding how they prepare you to handle various situations will help you feel better about feeling bad.
Heather Lench Professor of Psychological and Brain Sciences, Texas A&M University
Aussie Painters Network
aussiepaintersnetwork.com.au
National Institute for Painting and Decorating painters.edu.au
Australian Tax Office
ato.gov.au
Award Rates
fairwork.gov.au
Australian Building & Construction Commission www.abcc.gov.au
