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INNOVATION CENTRE CEO MARK PADDENBURG SHARES HIS TOP 10 TIPS FOR STARTUPS

WITH JANINE ALLIS

MONEY

CHRIS CHILDS EXPLAINS THE ‘REAL’ VALUE OF MONEY

PROPERTY

DISCOVER THE FOUR GOLDEN RULES OF PROPERTY INVESTING

Allan Pease

shares simple but effective do’s and dont’s for your next job interview

BIGGEST HANDBRAKES ON MOMENTUM

WHAT THE FOX CREATIVE Page 24

ALTUM Page 66

CHRIS CHILDS Page 44

AMANDA STEVENS Page 72


Five diFFerent cover stories

From the editor HI EVERYONE AND WELCOME TO THE SECOND ISSUE OF THINK BUSINESS MAGAZINE. WE’RE PROUD TO BRING YOU THIS HIGH PROFILE NATIONAL PUBLICATION OFFERING YOU THE LATEST INFORMATION ON MARKETING, FINANCE, PROPERTY, TECHNOLOGY, HUMAN RESOURCES AND MUCH MORE. yoU Loved the first issue of Think Businesses Magazine – the response from our readers has been overwhelming.

This issue we want to hear more about you and what you want to read more about, so make sure you fill in our reader survey – we’re listening.

This month we have another great line up of engaging and informative stories for you, as well as interesting statistics and informative columns from some of Australia’s best business coaches, marketing experts and writers.

we are excited to bring you the second edition of Think Business Magazine and can’t wait for you to see what we have in store.

In this issue, we chat with Boost Juice founder Janine Allis about how she built her multi-million dollar empire; leading high performance coach siimon Reynolds tells us five super effective ways you can become a productivity maestro; body language expert allan Pease shares his expertise on body language in business, and the Blokes About Town talk all things education and training, plus lots more.

Ingrid

INGRID NELSON, EDITOR

Same great magazine! aLtUM Developing forward thinking we introduce you to the award-winning property development group raising the bar on sustainable living

the FortUne institUte 7 ways to grow your business siimon Reynolds shares unusual but highly effective ways to get your company on the fast track to success

what the FoX creative Create (and keep) the customers you want Nita Childs shares how to attract the right customers and convert them into lasting customers

aimed at achieving maximum readership and exposure, we are delivering the magazine through both print and digital mediums, and readers can enjoy an expanded version of many of our stories on our website.

chris chiLds A life of passion

Once again, many of our feature articles include augmented reality, bringing the stories to life on the page and linking you to some great educational video footage from several of our contributors.

Chris Childs shares her passion for helping others achieve financial freedom through debt reduction and wealth creation through property

aManda stevens The C’s of change

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scAn this PAGe to WAtch inGrid introduce issue 2 of thinK business mAGAZine And PrevieW All the excitinG neW content

amanda stevens reveals her top strategies to maximise your customer base, while creating advocates of your brand THINKBUSINESS | 3


PUBLISHER Chris Childs publisher@thinkbusinessmagazine.com.au GENERAL MANAGER Kara de Schot EDITOR IN CHIEF (THINK GROUP OF PUBLICATIONS) Ingrid Nelson ingrid@thinkbusinessmagazine.com.au ART DIRECTOR Bobbi Simonds DIGITAL COORDINATOR What the Fox Creative DESIGN Chelsea Barnard, Tara Murphy CONTRIBUTING WRITERS Nicole Fuge, Ingrid Nelson, Tayla Arthur CONTRIBUTING PHOTOGRAPHY Paula Brennan, Tanya Chesterton Smith, Wade Fuge, Reece Woodland

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THE FORTUNE INSTITUTE Co-fouNDER siiMoN REYNolDs REVEals sEVEN waYs To gRow YouR BusiNEss fasTER

fRoM THE EDiToR ..................................3 ouT & aBouT ..........................................8 NEws fYi ...............................................10 THE DEBaTE ...........................................14 BlokEs aBouT TowN..........................90 THE woRD .............................................94 Book REViEw........................................96 fiNal woRD ..........................................98

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A LIFE OF PASSION CHRis CHilDs sHaREs HER PassioN foR HElPiNg oTHERs aCHiEVE fiNaNCial fREEDoM


BUSINESS 7 waYs To gRow YouR BusiNEss fasTER....................................................................16 TakE 10 wiTH JaNiNE allis ..............................................................................................22 aTTRaCT (aND kEEP) THE CusToMERs You waNT ........................................................24 5 waYs To igNiTE YouR ENTREPRENEuRial sPiRiT.......................................................30 BRaNDiNg PHoTogRaPHY – CliENT CasE sTuDY .........................................................32 ToP 10 TiPs foR sTaRT-uPs .............................................................................................34 THE 5 BiggEsT HaNDBRakEs oN MoMENTuM...............................................................36 wHY YouR BusiNEss NEEDs a CulTuRE of CouRagE................................................38 BuilDiNg BRaND REsiliENCE ...........................................................................................40 wHEN lifE fEEls likE a CiRCus...BE THE sTRoNg laDY (oR sTRoNg MaN) .............42 a lifE of PassioN .............................................................................................................44 BoDY laNguagE foR iNTERViEws .................................................................................54 kNowlEDgE foR EMPloYMENT EMPowERMENT .........................................................56 sCoRiNg goals ................................................................................................................60 TED Talks: MoTiVaTioN ....................................................................................................70

WHAT THE FOX CREATIVE How To aTTRaCT aND CoNVERT THE RigHT CusToMERs

24

C’S OF CHANGE .................................................................................................................72 WHAT IS YOUR BRAND FAMOUS FOR: QUALITY, SERVICE OR PRICE? ............................76 MillioN DollaR BEauTY QuEEN .....................................................................................78 a fuTuRE foR THE NEXT gENERaTioN............................................................................80 7 sTEPs To aDD ViTaliTY To YouR BusiNEss aND PERsoNal lifE ............................82 THE CoNNECToR ...............................................................................................................84 RolliNg iN THE DougH ....................................................................................................86 THE ‘SECRET SAUCE’ OF MARKETING SUCCESS.............................................................88

36 MICHAEL MCQUEEN THE fiVE BiggEsT HaNDBRakEs oN MoMENTuM

34

ALTUM THE PRoPERTY DEVEloPERs BREakiNg NEw gRouND oN RiVERfRoNT liViNg

66

MARK PADDENBURG ToP 10 TiPs foR sTaRT-uPs

PROPERTY THE fouR RulEs of PRoPERTY iNVEsTiNg ................................................................... 50 sTaTE of THE NaTioN REPoRT ......................................................................................... 62 PoRTfolio PERfECTioN ................................................................................................... 64 DEVEloPiNg foRwaRD THiNkiNg ................................................................................... 66 suNsHiNE CoasT ECoNoMY BuCks THE TREND .......................................................... 68

MONEY REDUCE YOUR DEBT, FAST .................................................................................................46 THE ‘REAL’ VALUE OF MONEY .............................................................................................48 $PEND iT ..............................................................................................................................52

AMANDA STEVENS fiVE kEY sTRaTEgiEs To CHaNgE THE faCE of YouR BusiNEss

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Think Business Magazine is a free publication (subscriptions available) published quarterly by Think Publications Pty Ltd ATF Profile Mag Trust. All rights are reserved and the contents are copyright and may not be reproduced without the written consent of The Publisher, Think Publications Pty Ltd ATF Profile Mag Trust (“The Publisher”). Their related companies and officers hereby disclaim, to the full extent permitted by law, all liability, damages, costs and expenses whatsoever arising from or in connection with copy information or other material in this magazine, any negligence of The Publisher, or any persons actions in reliance thereon. Any dispute or complaint regarding placed advertisements must be made within seven days of publication. Inclusion of any copy must not be taken as any endorsement by The Publisher. Views expressed by contributors are personal views and they are not necessarily endorsed by The Publisher.


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OUT AND ABOUT

scAn this PAGe to see more Photos from the event

ANGELA MILES, ZOE SPARKS AND MEAGAN CROSS

7th octoBer, twin waters

DEAN VEGAS

Think Money RACQ LifeFlight Rescue Gala Ball Twin waters Resort was transformed into an amazing Vegas-themed extravaganza on Friday, 7 October, as guests dressed to the nines and danced the night away to help raise funds for the lifesaving LifeFlight rescue service. Cosentino the grand illusionist provided the entertainment for the night, guaranteeing everyone had a magical evening. PHOTOS JASON HAY PHOTOGRAPHY

MICHELLE BLOOMER AND BAILEY TEED

JARROD AND SALLY BLEIJIE

MICHELLE EVANS, ROWENA MORRIS, HELENE DYKE, CONNIE MCINTOSH NARISSA PACE AND ASHLEA GIERKE

AMBER WERCHON AND PAUL MCHUGH

8 | THINKBUSINESS

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OUT AND ABOUT

DELEGATE WITH SARAH WILSON – FOUNDER, I QUIT SUGAR

15th sePteMBer, sydney

LUKE O’BRIEN – MANAGING DIRECTOR OF DATA & INSIGHTS, PUREPROFILE

2016 Publish Conference Hosting hundreds of influential figures from the publishing world and boasting a broad variety of experts from the media and marketing sphere as keynote speakers, this conference offered an amazing insight into the future of publishing. Held at Royal Randwick Racecourse in Sydney, the soldout one-day event saw the likes of Sarah Wilson (of I Quit Sugar fame) and The Australian’s chief executive officer Nicholas Gray share their insights as the best in the business. PHOTOS PUBLISH.ORG.AU

KEITH HERNANDEZ – PRESIDENT, SLATE MAG

KYLIE ROGERS – MANAGING DIRECTOR, MAMAMIA

DELEGATES WITH NINA VANNECK, HEAD OF ONLINE PARTNERSHIPS GROUP FOR AUSTRALIA AND NEW ZEALAND, GOOGLE

THINKBUSINESS | 9


NEWS

FYI.

20 INTERESTING FACTS ABOUT EVERYDAY LIFE

COMPILED BY CRAIG LEVITT

YOU PROBABLY DIDN’T KNOW

Where we holiday

BRAND FACTS

HOW MANY OF THESE TOP 10 TRAVEL DESTINATIONS FOR AUSTRALIANS HAVE YOU BEEN TO? Source: Australian Bureau of Statistics

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

New Zealand indonesia usa uk Thailand China singapore fiji Japan india

Coca Cola launched its third product, Sprite, in 1961 Hilton was the first international hotel chain The brand Nokia is named after a place in southern finland Monopoly is the most played board game in the world MasterCard was originally called MasterCharge

1.

Only 11% of people are left handed

2.

august has the highest percentage of births

3.

The average person falls asleep in 7 minutes

4.

The 3 most common languages in the world are MandarinChinese, Spanish & English

5.

You share your birthday with 9 million others

6.

In 1878 the first telephone book was made and contained only 50 names

7.

an average person will spend 25 years asleep

8.

Everyday is a holiday somewhere in the world

9.

There are 31,557,600 seconds in a year

10. Black on yellow is the colour combination with the strongest impact 11. China manufacturers 70% of the world’s toys 12. Rice is the staple food for 50% of the world’s population 13. Bill gates began programming computers at the of age 13 14. Every possible 3 character .com domain has been registered 15. Einstein slept 10 hours a night 16. The term ‘Blue Chip’ comes from blue casino chips which have a high value

17. In developed countries 27% of food is thrown away 18. There is 200 times more gold in the world’s oceans than has been mined 19. After petrol, coffee is the largest commodity bought and sold 20. You can’t trademark surnames


COFFEE ADDICTS – READ UP! Latte is the most popular type of coffee sold in VIC, QLD, WA, NT – with NSW & TAS favouring a cappuccino. Queenslanders are paying more for their caffeine hit, often up to 6% more than those in Victoria. Australia ranks a lowly 42nd in the world in terms of coffee consumption per capita. The average Australian consumes just 3 kilograms of coffee each per year, well below Italians and the French who annually consume 5.9 kg and 5.4 kg respectively. Instant coffee was invented in 1901.

TOP AUSTRALIAN BRANDS OF 2016

BRAND VALUE

COMPANY

BRAND VALUE

COMPANY

TELSTRA IS NOW AUSTRALIA’S MOST VALUABLE BRAND AFTER INCREASING ITS BRAND VALUE BY 37 PER CENT TO $14.58 BILLION OVER THE LAST YEAR, KNOCKING WOOLWORTHS BACK TO SECOND SPOT. UP UNTIL 2016 WOOLWORTHS HELD THE NUMBER 1 SPOT FOR AN IMPRESSIVE SEVEN YEARS.

1

2

3

4

5

TELSTRA

WOOLWORTHS

ANZ

COMMONWEALTH

WESTPAC

$14.58 $10.56 $10.15 $9.78 $7.96 BILLION

BILLION

BILLION

BILLION

BILLION

6

7

8

9

10

NAB

BHP BILLITON

COLES

OPTUS

RIO TINTO

$7.55 $7.18 $6.57 $4.93 $4.18 BILLION

BILLION

BILLION

BILLION

Source: Business Insider Australia

fYi sPoNsoRED BY:

BILLION


NEWS

FYI. MARKETING STATS A WELL PLANNED MARKETING STRATEGY CAN MEAN THE DIFFERENCE BETWEEN BUSINESS SUCCESS OR FAILURE. THE CHANNELS BY WHICH YOUR BRAND’S MESSAGE IS DELIVERED IS JUST AS IMPORTANT AS THE MESSAGE ITSELF. WITH NEW TECHNOLOGIES OFFERING MORE WAYS TO MARKET THAN EVER BEFORE IT IS IMPORTANT TO KNOW WHAT RESULTS YOU SHOULD EXPECT FROM YOUR INVESTMENT.

WHERE ARE BUSINESSES INVESTING THEIR MARKETING $$? A report from Forrester Research shows the estimated allocation of marketing funds offline vs. online and across the digital channels. 1

1

In 2016, the average business was expected to allocate 30% of their marketing budget to online.

2.2

This rate is expected to grow to 35% by 2019.

3.

Search engine marketing will capture the largest share of online spend with online display (banner ads, online video, etc.) taking the second largest share.

4.

Social media investments will continue to grow as an overall share of online spend, but will only represent about 15% of the total online spend.

5.

Mobile marketing has grown to a point that it’s no longer tracked in the forecast and is presumed to be considered across all channels.

3 4 5

MISSED OPPORTUNITIES Connecting with customers via email marketing software can be the cheapest and most effective form of marketing for almost any industry. it allows brands to personalise their communication, gauge traffic flow and track customer behaviour. Surprisingly it is often the most underutilised form of marketing.


64% of brands do not personalize email copy, and over two-thirds don’t use customer data to personalize products and services featured in their emails.

Almost 50% of retailers do not collect email addresses via social media or instore, and over two-thirds don’t collect consumers’ email addresses when they interact with the business online.

The power of video marketing Visual content is 40 times more likely to be shared than other types of content and the future predicts that this figure will only increase over time. Video content works because it combines both visual and audio to communicate messages quickly on portable devices.

of online traffic in 2017 will be video-based.

74%

Source: Usabilia

x 1.81

shoppers who view video content are 1.81 times more likely to purchase than non-viewers. Source: Usabilia

69%

of users would prefer to watch video to learn about a product than to read about it. Source: Wyzowl

98%

of users say they’ve watched an explanatory video to learn more about a product or service. Source: Wyzowl

74%

of users who watched an explanatory video subsequently bought the product or service. Source: Wyzowl

70%

of users have shared a brand’s video with a friend or on social media. Source: Wyzowl

fYi sPoNsoRED BY:

Forty-five percent of small business owners don’t maintain an email list that prospective customers can opt in to.

DO YOUR EMAIL MARKETING STATISTICS ADD UP? According to email marketing firm sign-up.to, averages across 2015 were:

24.88%

oPEN RaTE foR EMails

3.42%

CliCk-THRougH RaTE

0.52%

uNsuBsCRiBE RaTE

10.88%

CliCk-To-oPENs RaTE

2.72%

uNsuBsCRiBE-To-oPENs RaTE


THE DEBATE

THE DEBATE FOR THE AFFIRMATIVE:

PiPPA colemAn OWNER PIPPA COLEMAN AND ASSOCIATES SOLICITORS

in aLL the time that i have been in business, I have never heard of anyone arguing against having a business plan. Yes, it is essential for success – because, without your plan, you won’t have worked out your goals, and you won’t know if you have achieved them or not. some people are cautious about doing a business plan as they think that it is a

14 | THINKBUSINESS

comprehensive and complex process, resulting in a rather large document that occupies a couple of ring binder folders and that it takes on a life of its own and is an arduous task to update it, etc. I prefer the “Keep it Simple Stupid” principle – that is, my business plan is just one page (well maybe two). it identifies our overall strategic goal and objective and i break my business down into 4 areas – financial performance; the people in the business; my clients; and my operations (anything that doesn’t naturally fit into the other categories). It clearly identifies goals and objectives within these categories and the key elements of the operational plan that needs to be actioned in order to achieve the desired outcomes. and it literally is one page that i can keep handy with me and I can easily refer to it when making strategic decisions. i tend to review my plan monthly to check we are making progress and if anything within the plan needs to be changed, or to identify areas that we need to focus more on. Remember a business plan is not set in stone. It needs to be flexible so that you can adapt to new opportunities or defend yourself against emerging risks. so a nice simple plan that is easy to adapt and change as you progress makes it even more valuable as a management tool. Some time ago, I read an article by Alan gleeson who has a standard response

for when he is asked – why is business planning so important? He quotes Lewis Carroll who wrote alice in wonderland. There is a scene where alice comes to a fork in the road and asks: “Would you tell me, please, which way I ought to go from here?” “That depends a good deal on where you want to get to” said the Cat. “I don’t care much where –“ said Alice. “Then it doesn’t matter which way you go” said the Cat.

it needs to be flexible so thAt you cAn AdAPt to neW oPPortunities or defend yourself AGAinst emerGinG risKs.”

so yes i think a business plan – no matter how comprehensive it is – needs to be in place in order to identify your success in business. Without it, it doesn’t really matter what you do with your business.

www.thinkbusinessmagazine.com.au


BUSINESS PLANS:

ARE THEY REALLY NECESSARY FOR SUCCESS?

FOR THE NEGATIVE:

BUsiness today is dramatically different from 10 years ago let alone 100. The rise of technology has allowed for instant global communication, stronger access to specialised talent and even rapid prototyping. However, when we look at the business plan, very little has changed over the course of time. I see these plans as archaic and believe that they are inhibiting in today’s world. This isn’t to say that l think they should be scrapped but simply adjusted.

luKe humble MANAGING DIRECTOR ITALIC GRAPHIC DESIGN

i see these PlAns As ArchAic And believe thAt they Are inhibitinG in todAy’s World.”

Having a business plan doesn’t necessarily determine the success of a business, but it does provide a stronger understanding for the owner to work towards achieving success. If you download the free Queensland government business plan template, you will see that even before adding any content you have a 37-page document. Although this has a lot of beneficial sections to help guide you through the creation of a business it can greatly inhibit growth as it is extremely laborious to complete, let alone maintain on a regular basis. With the increased pace of startups launched globally and the fact that in the first 3 years around 60% of businesses fail, having no plan can be as fatal as planning too much. It is because of this that l believe a business plan must be agile just the same as a business should.

WANT TO GET INVOLVED IN OUR DEBATE? WE WOULD LOVE TO HEAR YOUR THOUGHTS ON BUSINESS PLANS AND IF YOU THINK THEY’RE NECESSARY FOR SUCCESS

TO CAST YOUR VOTE: simply hover your mobile phone over the button below and click on YEs or No. It’s that easy!

Results will be revealed in the next issue of Think Business

THINKBUSINESS | 15


BUSINESS

7 ways to grow your business fAster WORDS SIIMON REYNOLDS, CO-FOUNDER OF THE FORTUNE INSTITUTE

IF YOU OWN A BUSINESS YOU ARE PROBABLY FRUSTRATED ABOUT HOW SLOWLY IT’S GROWING. SALES ARE NEVER QUICK ENOUGH, PROFITS ARE NEVER BIG ENOUGH. SOMETIMES I BET YOU WONDER WHETHER IT’S ALL WORTH IT.

as a Partner at The fortune Institute, a leading mentoring company for entrepreneurs, I hear this complaint about slow growth all the time. The truth is, there are many ways you can grow your company a whole lot faster. But you have to think laterally. How? Let’s take a look at some unusual but highly effective ways to get your company back on the fast track.

1

do more level tWo thinKinG

Ever heard of Ray Dalio? Most people haven’t, yet Ray Dalio made over $3 billion dollars last year. He has run his company, a hedge fund known as Bridgewater Associates, for the last 36 years, building it from a tiny operation in an apartment, to America’s largest hedge fund. Like all billionaires, he has some fascinating viewpoints and distinctions. I’ve been studying Ray lately and today i want to explore one of his most interesting concepts – consequence Levels. Basically the thinking goes like this: The average business person only looks at the consequences of an event one level down. The highly effective person however, takes the time to think more carefully and evaluates the deeper

16 | THINKBUSINESS

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meaning of the event. It’s often only when you look at consequences at levels two and three that you can work out your optimum tactic in response.

scAn this PAGe to meet siimon reynolds And leArn All About his business mentorinG ProGrAm for hiGh Achievers

let me give you an example that happened to me a few years ago. My fiancé and I were organising our wedding day (actually she was doing 90 per cent of the work). After weeks of negotiations, we had agreed upon a cost for the wedding reception with a hotel in Palm springs. Then at the last minute the hotel’s general manager overturned the deal and demanded about $5000 more, while also giving us only hours by which we had to agree. If we failed to give in to his new (and in our view, unfair) terms he’d cancel our reservation. forced into a corner with a deadline looming, we very reluctantly acquiesced to his demands. Now, that general manager thinks he’s being a clever business person. By putting immense last minute pressure on us he has made his hotel an additional $5000. But he is only looking at the level one consequence. The level two consequence is that in response to his behaviour, we reduced the number of rooms we booked in the hotel, leading to a major loss of revenue for them. Furthermore, the level three consequence is that we will tell so many people about his despicable act that he will lose numerous wedding bookings, amounting to likely lost revenue of at least $200,000. So these deeper level consequences mean that he actually cost his hotel a large amount of money. What level do you think at? In this breakneck speed business world, it’s very tempting to decide an issue with level one thinking. We look efficient and decisive. We get things done. But it’s only later that level two and three consequences emerge. Hidden ramifications which could easily hurt our business. or even kill it. as Ray Dalio has shown, the deeper the level you think at, the higher you will rise. By going down, you’ll go up.

2

AsK more often

I was on a plane from North Carolina to Los Angeles, 200 people were on board and bored. The flight was over five hours, yet only once did the flight attendants walk down the aisle offering food/snacks. If they had simply done it twice they would have increased their food sale revenue by at least 30 per cent. Now this airline has well over 1000 flights every day, so just think how many tens of millions of dollars they are missing out on, simply by not coming back to their customers with another chance to buy. Are you making the same mistake in your business? Customers who buy once will often buy two, three or 10 times. If only they are asked. Hundreds of billions of dollars of potential income is lost every year by all the businesses that don’t follow up the first sale with other enticements. REPEAT OFFERS NEW REASONS TO BUY DISCOUNTS ON THE NEXT PURCHASE A CALENDAR OF SALE EVENTS

Any of these techniques will increase the profits of any business significantly. So many business owners complain that they aren’t making enough money. But like that airline, they’re ignoring the opportunities right in front of them. THINKBUSINESS | 17


BUSINESS

3

GenerAte PoPulArity

I was out driving recently in Los Angeles and saw an amazing sight. A famous hot dog stand called Pink’s had a line of people outside that went halfway around their entire building. The question is, why? Is it because their hot dogs are so amazing? Well, I’ve eaten there and while they’re good, a hot dog is a hot dog. There’s only so much you can do with it. Is it because they spend a fortune on marketing? No way. In all my years in L.A I’ve only seen one ad for Pinks. Is it because they cost less than other hot dogs? On the contrary, they cost more than many of their competitors. No, in my opinion the reason Pink’s has people waiting for an hour just to taste their dogs is because of a factor far more strange and subtle. People line up outside Pink’s because they see other people lining up. They assume that because so many are lining up the hot dogs must be amazing, and so they decide that they too must visit this place. So it becomes self perpetuating. There’s a term for this in behavioural research – it’s called Social Proof. Humans tend to get more interested in things when we see that other humans are interested in them. So, think about this: How can you create the appearance that lots of people love your company? If you could just achieve that, then you too would get an ever increasing number of people desperate to buy from you. As I see it, there are three ways:

1

GET LOTS OF TESTIMONIALS

When potential customers read about other customers that adore your products, their desire for your stuff will dramatically increase.

humAns tend to Get more interested in thinGs When We see thAt other humAns Are interested in them.”

2

INITIATE A PR CAMPAIGN ABOUT POPULARITY

Plan a campaign of hitting the media outlets with stories about the fast growth and popularity of your company, product or service.

3

CREATE SHORTAGES

Consider occasionally making your product unavailable or booked out, due to high demand.

None of these strategies cost much money, but together they will go a long way to creating the impression that your company is popular, and that your product is something really special. Pretty soon you could end up like Pink’s. Not selling hot dogs, but selling hot products.

18 | THINKBUSINESS

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4

AlWAys offer An exPensive oPtion

Here’s some amazing news. Diageo recently announced that they will be releasing a $150,000 whiskey. That is not a misprint. They really are going to ask people to pay 3000 times more than normal for a bottle of malt. If you’re like me, you’re probably thinking who on earth would be silly enough to buy it? The answer is, plenty of people. In fact Diageo expects to sell out of the stuff. As their spokesman remarked, “We don’t think we’ll have any trouble finding buyers”. This is worth thinking about. If Diageo can feel confident asking for $150,000 for a single bottle of alcohol, maybe

your company should introduce a super premium priced product or service. Maybe not 3000 times more expensive than your usual products, but how about three times more? Most entrepreneurs believe that they couldn’t possibly charge that much. In fact most of them feel they couldn’t even offer a product that cost 20 per cent more than their competition. But having spent over 25 years advising a myriad of companies on pricing, my experience is very different. If you position it right (emphasing exclusivity, premium ingredients or service, and focusing on value rather than price) at least five per cent of

your customers will choose your super expensive option. Indeed, many companies find that 20 per cent or more of their clientele pick the uber expensive product. And here’s another interesting aspect of premium pricing: even if nobody at all buys your premium offering, they will think your current products are cheaper by comparison. (for research that supports this, read the classic book on persuasion, Influence, by Dr Robert Cialdini). so either way you win. why not take a few minutes now to conjure up some ideas for a really expensive product or service. Create a good one and in a few months you and your business partners may be celebrating record profits. (Maybe with a bottle of that $150,000 whiskey).

if diAGeo cAn feel confident AsKinG for $150,000 for A sinGle bottle of Alcohol, mAybe your comPAny should introduce A suPer Premium Priced Product or service.”

THINKBUSINESS | 19


BUSINESS

5

WorK liKe A sPorts stAr

I often ask myself the following question: what will the top business leaders be doing in 50 years? I figure if I can guess that, and start doing those things now, i should lead the pack over the next couple of decades. Let me give you one of my answers, it may help you build a better business, faster. I believe that the elite business people in 50 years will train like sports stars. a. they wiLL Use the MentaL traininG techniQUes Used By sPort stars For example, almost every major olympian today regularly rehearses in their mind, seeing themselves performing perfectly. This mental rehearsal has been shown in countless studies to improve performance. So why don’t we in business world do the same? Is it not likely that it could improve our performance in sales presentations, time management and our interaction with clients?

business executives Perform best When mimicKinG the WorK PAtterns of sPortinG stArs – intense WorK folloWed by freQuent short breAKs And lots of sleeP.” 20 | THINKBUSINESS

Of course it would. The brain is a magnificent computer that can be programmed much like any other computer. Just read books on neuroplasticty like The Brain That Changes Itself by Norman Doidge or Rewire Your Brain by John Arden for examples of how deliberate imaging of superb performance can literally change the structure of the brain and improve our performance. When you think about it, it’s crazy every ambitious business person isn’t using these techniques daily. I certainly do. B. they wiLL Use FocUsinG stateMents LiKe toP sPort stars do Focusing statements are short, sharp summaries that many top sports men and women use to remind themselves of what they need to focus on, just before they perform.

For example, the great baseball hitter Alex Rodriguez, uses this focusing statement, “I hit the ball solid with an accelerated bat head”. For a sprinter it may be something like, “Stay low, stay relaxed”. For a football player it may be a sentence as simple as the following, “Confidence and aggression”. The bottom line is that focusing statements like these have been found to be highly effective for all manner of sport stars. They concentrate your mind on what matters and take it away from negativity and distracting thoughts. Couldn’t every entrepreneur get value out of using one of these focusing statements? You bet they could. c. they wiLL Learn to reLaX LiKe sPort stars The top sports players all value relaxation and downtime. They take their breaks seriously, because they are intimately aware of how overwork harms future performance. They make sure each break is a quality break. They monitor their sleep patterns, ensuring they get enough rest. and critically, they work in quick intense bursts, followed by recuperation. Now you may think that you couldn’t possibly behave like that in the business world. But according to the Human Performance Institute in Florida, you’d be mistaken. In over a decade of studies, Dr Jim Loehr and his team have categorically shown that business executives perform best when mimicking the work patterns of sporting stars – intense work followed by frequent short breaks and lots of sleep. There you have it. Three ways to improve your business performance using techniques of sporting champions. Try them. You may not win a gold medal, but you can still win plenty of gold. www.thinkbusinessmagazine.com.au


6

focus on neW ideAs

we live in a culture that admires busyness. We applaud the fast moving, hard driving entrepreneur, always on their phone, endlessly moving from meeting to meeting. we respect the urgent executives, with mountainous ‘to do’ lists, no time for breaks, as they get tasks done at a rocket-like pace. But our obsession with busyness can be incredibly costly because usually, the busier we are the less quality thinking we are doing. And it’s thinking that really improves businesses, not just doing. Sure, we should all work hard, but working hard doesn’t create a competitive advantage, as most of our competitors are also doing it. where we can get ahead is by devoting at least 20 minutes a day to just thinking – alone, with a blank pad of paper and a pen. Resisting society’s urge to do, do, do all the time. It’s ideas that created the modern world and it’s ideas that will revolutionise your business. But they need time to originate. So every day, stop working for a while and do some quality thinking. It sounds simple, but it’s not an easy thing to do. As Henry Ford said, “Thinking is the hardest work there is, which is probably the reason so few engage in it.”

7

Give them A tAste

Here’s a great way to quickly build up your business success – offer free trials of your products. They’re a simple, but amazingly effective way to get people interested in buying from you. This really hit home for me recently when I was out shopping in a mall. I walked past a Teavana store – the huge chain of tea stores that has taken America by storm. There was a girl outside the store who offered me a free sample of their tea. As I sipped the delicious brew I asked her, “What percentage of people who try your product then walk into the store?” Her answer floored me – “About one in three”. Isn’t that incredible? Just by offering a free sample of the product she gets hundreds of extra people walking into the shop every day. What does it cost Teavana? Very little. What does it gain them? Millions of dollars of extra sales a year. Free trials are a highly underestimated marketing technique. The concept has been around for so long many business owners have forgotten about it. But free samples really work. Why? Because people need to be convinced, because they’re ambivalent, conservative with money, or stuck in habits of buying your competitor’s products. But often just one free trial is all it takes to sway them to your company and start buying from you. Try offering a free trial this month. It could be the difference that really makes the difference. so there you have it. seven unusual but powerful ways to grow your business faster. Do one of them and it will definitely improve your business. do them all and your sales will sky rocket. for more info visit: THEFORTUNEINSTITUTE.COM THINKBUSINESS | 21


BUSINESS

tAKe 10 with Janine Allis PHOTOS CONTRIBUTED

JANINE ALLIS FOUNDED BOOST IN 2000, FROM HER KITCHEN BENCH AND GREW HER JUICE AND SMOOTHIE EMPIRE TO NOW OPERATE IN MORE COUNTRIES THAN ANY OTHER JUICE BAR IN THE WORLD. The business has squeezed and blended its way through thousands of tonnes of fresh fruit and veg every year, including over 2000 tonnes of watermelons, 49 million blueberries and 3 million bananas a year in australia alone. That passion for healthy, fresh taste has translated into over $2 billion in global sales since inception.

1

yoU had no ForMaL BUsiness traininG and never attended University, what advice do yoU have For other PeoPLe who aLso want to FoLLow the ‘non-traditionaL’ Path?

Interesting question, as when I was growing up, the non-traditional path was not to go to university, so it is all perspective. Education is education, I learned business from doing business, and asking business people, not reading about it. Of course, there is a place for uni and other further study, but it is not for everyone, there are many paths to success, but what people need more than education is to be prepared to work hard and the tenacity to never give up.

2 3

when yoU were startinG yoUr BUsiness, what was the Best advice yoU ever received and who was it FroM?

“If you settle for mediocrity in your people in business and life, that is what your business will be.” – Jeff Allis when yoU eXPerience setBacKs in BUsiness, how do yoU reGroUP and Move Forward?

learn. Every setback can feel like two steps back, one step forward, but without setbacks and challenges, that business would not be what it is today.

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www.thinkbusinessmagazine.com.au


scAn this PAGe to WAtch A recent intervieW With JAnine on sKy neWs

i leArned business from doinG business, And AsKinG business PeoPle, not reAdinG About it.”

4 5 6 7 8 9

what is the ForMULa For achievinG sUccess?

Have a winning attitude. Be accountable for both your success and your failures. Do not do the blame game, but take control. what advice can yoU Give a yoUnG entrePreneUr startinG their own BUsiness?

Hire well, only surround yourselves with great people. who is yoUr Mentor in BUsiness and what have yoU Learnt FroM theM?

I do not have one mentor, I keep my ears open and my mouth closed most of the time, because you never know when you will find a gem. how woULd yoU descriBe yoUr LeadershiP styLe?

I make people accountable, I’m supportive and demand excellence. i allow my teams to make mistakes. FindinG the riGht PeoPLe can Be diFFicULt, how do yoU Find PeoPLe who can Be Leaders in yoUr BUsiness?

Make sure you recognise them and continue to develop them within the business.

yoU are an avid investor and Mentor to yoUnG BUsiness owners, what do yoU LooK For in a ProsPective investMent?

10

what are yoUr

toP 5 tiPs to success? Marry well (or pick your partner well) – if you have a negative partner, you will never achieve what you need to achieve

Do your own accounts at the start so that you can know your business. People who know their numbers have a more profitable business

Hire slowly, fire fast

Speak to your customers every day and find out how you can be better

Have fun

Great people, scalable, know their numbers.yourself with a reliable, enthusiastic and energetic team – then trust them.

THINKBUSINESS | 23


BUSINESS

AttrAct (and keep) the customers you want WORDS NITA CHILDS

THE TACTICS YOU USE TO MARKET YOUR PRODUCTS AND SERVICES HAVE THE POWER TO MAKE OR BREAK YOUR BUSINESS. NITA CHILDS FROM WHAT THE FOX CREATIVE SHARES HER INSIGHTS AS A HUBSPOT CERTIFIED INBOUND MARKETING EXPERT TO HELP OTHERS STEP INTO THE 21ST CENTURY OF MARKETING.

whether yoU’re ready or not, the marketing world has been disrupted – your customers’ behaviour has changed and they are tuning out of traditional marketing. Modern customers are wise to old, out-dated marketing methods. You know yourself how easy it is to skip television ads, hit ‘unsubscribe’ from email lists, trash direct mail and ignore cold calls. It’s official: the old marketing playbook is dead.

enter the solution – inbound mArKetinG! in order to attract the right leads and convert them into loyal customers, you need to provide something they love. Delight comes before devotion, and inbound marketing is an effective tool to connect those dots in your customer’s journey with you.

so WhAt is inbound mArKetinG? According to the experts at Hubspot, ‘Inbound marketing is a holistic, datadriven approach to marketing that attracts individuals to your brand and converts them into lasting customers’. In my words, it’s a measurable, precise and empathetic method of marketing that taps into your customers’ deepest

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www.thinkbusinessmagazine.com.au


1

every mArKetinG Activity should be dictAted by your customer PersonA

When you use inbound mArKetinG, it’s liKe mArKetinG mAGic; your customers Will come to you.”

wants and needs. Remember, delight comes before devotion to your brand. Think about the push-marketing style of days gone by. Marketers and business owners interrupting potential customers with their message, using a garish web banner or loud television ad. This outdated methodology creeps into modern digital platforms too. How annoying is unsolicited facebook ad ‘spam’ that’s irrelevant to your interests? Inbound marketing works because it’s a more targeted and welcome way of creating the experience people are looking for. It adds value to your customers’ lives. When you use inbound marketing, it’s like marketing magic; your customers will come to you. Statistics irrefutably back this up. inbound tactics generate 54 per cent more leads than traditional marketing. Better yet, when you use the right technology to automate your inbound marketing, attracting, nurturing and converting new customers is highly economic and virtually effortless.

here are nita’s top four tips to transition to inbound marketing in your business.

As Nita mentioned earlier, inbound marketing is all about: ■

attracting strangers to your website

Giving them something they love (Hello, Delight!)

Converting them first into customers

Ultimately creating brand advocates (Score! Devotion)

So, the first thing you need to figure out is who are you targeting, and what it is they love.

scAn this PAGe to WAtch nitA exPlAin inbound mArKetinG And hoW it WorKs

Chances are that you’ve probably already heard of the term ‘buyer persona’. You may have even already spent time around the whiteboard nutting your personas out. Buyer personas are a semi-fictional representation of your most valued customer. They are also one of the most important aspects of an inbound marketing strategy. why? Because buyer personas are the potential customers you are trying to reach and who you are creating content for. After all, you don’t want to attract any old stranger to your website – you want to attract the right strangers, as these are the people who are going to be most interested in what your business has to offer. Therefore, every single piece of content on your website should be aimed at attracting, converting, closing, and delighting your persona. There’s no way around it; you’ve gotta know what makes them tick. THINKBUSINESS | 25


2

creAte Killer content thAt is suPer Generous

The formula is actually pretty simple. By publishing the right content, in the right place, at the right time, your marketing becomes relevant and helpful to your customers – not interruptive. As a customer yourself, you know how this feels. Compare your delight at receiving the perfect advice on a blog article, right before you needed it, to the pesky telemarketer who calls right on dinner time and needs to be told umpteen times that you’re really not interested. Once you have a clear idea about who your customer is and what their needs are, it’s time to craft some creative content offers that are relevant, helpful, and fun for your readers. These offers don’t need to be complex and you don’t have to be an accomplished wordsmith. But they do need to address a problem or interest that’s relevant to your target audience. This could be a simple blog article, helpful tip on social media or small downloadable resource. The next step is sharing your amazing content on the right platforms, at the right time and in the right style. sound scary? I promise, it’s really not.

PlAce

content

time

every sinGle Piece of content on your Website should be Aimed At AttrActinG, convertinG, closinG And deliGhtinG your PersonA. there’s no WAy Around it; you’ve GottA KnoW WhAt mAKes them ticK.”


creAte An unforGettAble user exPerience

When designing your website, it’s important to start with the end in mind. Consider how the buyer will feel from their first impression of your homepage, to how you want to interact with them post-purchase. Every step of this journey provides potential opportunities to add value to your customers’ lives (delight) and create longevity in your relationship with them (devotion). By intimately understanding your customers’ needs and interests, you can create an unforgettable user-experience (uX) on your website. uX design makes your website easy for customers to navigate, creates engaging journeys and appropriately asks customers to share their details with you.

4

sPreAd your content fAr And Wide

You’ve just created super-generous content that delights your customers and fulfills their wants and needs, so what now? You need inbound marketing! used artfully, it’s my goldstar marketing recommendation to get your word out to the right people. There are many tools and options to choose from. After all, inbound marketing is multi-channel by its very nature because it approaches people where they are, when they want to interact with you. Here are some key channels to consider: sociaL Media: gone are the days when Facebook was merely fun and games. Social media is now a fullymonetised marketing machine and provides an incredible platform for connecting with your customers.

LandinG PaGes: landing pages improve conversion and are rewarding for clients because they save time without having to search around your website. Hot tip: Keep forms on landing pages succinct and match the amount of information you ask for (i.e. form fields) with the value of content on offer in exchange. aUtoMated worKFLows (eMaiL): Many new email opt-ins may come from cold leads. However, by nurturing new leads through autoresponder email funnels, you can create delighted, devoted customers! This also reinforces your brand experience by rewarding your users and making them feel like they have made the right decision to connect with you. It’s worth it – nurtured leads make 47 per cent larger purchases than nonnurtured leads.

3

Taking this one step further, you can create enticing calls to action (CTa) throughout your site. CTas guide your customers through the decision-making stages of purchasing. Remember though, your goal is not to interrupt or ‘push’ people into taking action. It’s more of a gentle nudge. Appropriate placement of these CTAs involves an empathetic consideration of where people are in their decisionmaking process at various locations on your website. This effectively means that you are asking people to take action when they feel ready. The result? A natural, comfortable conversion process that helps you to build trust with your audience.

Ultimately, these channels work synergistically to attract, delight, coNvert and close a purchase with your customer. with the right inbound marketing, you can even gain a devoted brand advocate who will repeat this cycle again!

By following steps 1 to 4, with a heart of service and total empathy for your customers’ wants and needs, inbound marketing will transform your business into a powerful magnet for loyal, delighted customers who are begging to do business with you!

Turn over to meet the Foxy team


meet the foxy teAm WHAT THE FOX IS A TEAM OF EXPERTS WHO SHARE A PASSION FOR PLANNING, DESIGNING AND DEVELOPING EVERYTHING YOU NEED TO MAKE YOUR BUSINESS DREAMS COME TRUE. THESE CREATIVE SPECIALISTS ARE IMPRESSIVE AS INDIVIDUALS, BUT WHEN YOU PUT THEM ALL IN THE FOX DEN TOGETHER – THERE’S NOTHING THEY CAN’T DO.

tAlK to nitA About oPtimisinG inbound mArKetinG for your business: PHONE (07) 5443 7743 NITA@WHATTHEFOX.COM.AU

tiP: Focus on your customer. That’s what i bring everyone back to. Every decision you make about every piece of marketing, every new offer you have, every new product you develop should be related directly to the needs of your customer. So you need to know them intimately and know what their needs are and what motivates them.

nitA childs

AdriAn PAinter

Creative Director

Operations Manager

Affectionately known as ‘Mumma Fox’, Nita’s primary focus is on client strategy and education – so rather than keeping all of her oodles of knowledge held tightly to her chest, she sprinkles it around like fairy dust.

“Make your brand and marketing stand the fox out!” Adrian says, and boasting 24 years in the design and sales industry he sure knows what he’s talking about, so you better make sure you listen (if you want your business to stand out from the crowd). adrian brings a witty perspective and expert wisdom to the WTF team and is in charge of guiding the clients on a successful journey and making sure his team continually surprise and delight their customers.

along with delivering strategies in workshops and one-on-one with clients, Nita also oversees the creative and strategic direction of all work at each touchpoint of the business, making sure the goals discussed at the welcome stage are followed through to the end of the campaign. “Often at What The Fox we’ll have lots of different clients who have quite large multifaceted projects and my superpower is being able to jump between those projects and know exactly where the tweaks need to happen.” A designer by trade, Nita can nail the aesthetic of a campaign, while her experience in marketing means she can couple that with a killer strategy. Nita also has a background in education, which explains why she’s so passionate about helping people learn and apply that knowledge through a tailormade strategy.

In his past life, Adrian managed a creative team, a design studio and a team of account managers and production staff for ANZ past nine years. “I have always had a passion for art, design and people; studying Visual Arts at The University of Melbourne where i graduated as a secondary school art teacher,” he says. “But my path soon changed as i started work as a freelance Graphic Designer for a three-month contract that turned into four years. From there I professional developed working in print production, customer service, account management to my last role as a contract manager in charge of a $30m portfolio of design, print, warehousing and logistics for the ANZ Banking group nationwide.”


nAtAshyA mAnfield

JAsmin tulK

PAtricK WAlsh

Lead Brand Strategist

Art Director

Lead Digital Designer

“i make sure a brand is working towards its strategic objectives across all channels – from the offline experience to digital marketing and beyond!”

Jasmin is a gun designer, responsible for the visual style of your project at What the Fox, and draws on her diverse background in visual and graphic arts, marketing and copywriting with national brands including The Australian Ballet, The Melbourne Times, Sony Ericsson, Cadbury and schweppes.

“What do I do? I’m a digital designer and developer – i make stuff!” Patrick says humbly, but it takes a special kind of creativeoriented tech geek to sling code while producing websites that are beautiful. Patrick is that man.

with a double bachelor degree in fine arts (fashion) and Business (Advertising), Natashya knows a thing or two (or three) about transforming businesses into beautiful brands. “When I graduated from uni I started a fashion label with a retail boutique and international wholesale accounts. After five years of designing, pattern making and sewing, I discovered that i enjoy creating brands more than dresses! so i enrolled in a graduate law degree (part time) to strengthen my understanding of the commercial landscape and started creating brands with the team at what The fox!”

When it comes to branding, Jasmin says simplicity and consistency are king. “Your brand is more than just your logo so it pays to consider all of the supporting elements that help communicate your message, whether it’s colour, typefaces, photography or tone, developing a consistent look and feel to these elements all help to reinforce your brand.” while Jasmin now possesses incredible experience in graphic design, she originally studied painting and printmaking at Queensland College of Art, so has a well-rounded creative background and the ability to draw on that knowledge whether it’s a branding, print or digital project.

“My superpower is organising information. I’ve always loved solving puzzles and trying to figure out what information should be included on a website and ‘how’ it should be organised is one hell of a puzzle,” he says. while Patrick now proudly pops on the foxy ears, he has worn many hats – having started with an accounting degree, then moving to Canada to take on the role of a youth worker before returning home and studying design. Patrick landed his first job as a digital designer in 2009 and started picking up mad skills in web development (it’s hard to have one without the other). since then he has immersed himself in the industry, working his magic within creative agencies and in-house at internationally-renowned food Matters.

ON THE COVER NITA WEARS OWN DRESS, NECKLACE RRP $12.99 FROM COLETTE BY COLETTE HAYMAN AT SUNSHINE PLAZA. ADRIAN WEARS TRENT NATHAN JACKET RRP $399, TRENT NATHAN PANTS RRP $150 AND VAN HEUSEN SHIRT RRP $59.95 FROM MYER SUNSHINE PLAZA. NATASHYA WEARS OWN BLOUSE AND BASQUE TUNIC RRP $89.95 FROM MYER SUNSHINE PLAZA.

As Lead Brand Strategist, Natashya orchestrates multi-platform experiences that are informed by a deep understanding of customer value. Possessing a super-fine superpower of creating customer value (and stalking people on Instagram!), Natashya’s golden rule for social media is to “express your brand’s personality and make your posts beautiful. Professional photography and design will attract more far eyes than blurry DIY artwork”.


BUSINESS

5 ways to ignite your entrePreneuriAl sPirit WORDS GAVIN SEQUEIRA, SPEAKER, COACH AND AUTHOR

HAVE YOU EVER WONDERED IF YOU HAVE WHAT IT TAKES TO MAKE IT ON YOUR OWN? DO YOU HAVE THE ENTREPRENEURIAL SPIRIT TO BE ABLE TO PAVE YOUR OWN WAY IN LIFE AND DO WHAT IT TAKES TO SUCCEED?

hAve you noticed PAtterns or siGns out in the mArKetPlAce, thAt oPen uP oPPortunities for you to contribute And mAKe A difference?”

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Do you find yourself always starting new projects, looking at ways to solve problems, being creative, constantly designing gadgets, looking towards change and innovation, and generally feeling optimistic about the future? Then perhaps you have some of the base characteristics needed to be successful in this game. The entrepreneurial spirit is filled with passion, positivity, leadership and ambition and if cultivated, can be so powerful that it can see dreams turn into realities, make fortunes and have long lasting impacts on society in general. Here are 5 unique ways to ignite that entrepreneurial spirit within you:

www.thinkbusinessmagazine.com.au


1

see Where the oPPoRTuNiTiEs lie

an entrepreneur cannot help but notice things. Gaps, areas that need improvements, shortfalls and shortages, missing links and information gaps, and generally trends that can be created, amended, turned around or eliminated. what opportunities do you notice on a daily basis? How closely do you pay attention to what is happening around you? Have you noticed patterns or signs out in the marketplace, that open up opportunities for you to contribute and make a difference? If not, then the best way to get your juices flowing is make a habit to look out for changes going on around you. a wise mentor once said – “If you can find a way to help the many, you can have everything you want.”

2

embrAce your PassioN And Get stArted

Once you have your idea firmly cemented in your head and you are set on it, then get passionate about making it happen. why is it important that you succeed in this venture? Only you know the true answer to this. find a reason that will motivate you to beat the odds. a great example is Richard Branson who, despite being a high school dropout, is one of the most passionate and respected businesspeople in the world. He has created an empire with Virgin and currently runs over 400 businesses. He is driven out of pure passion for business and life. He simply got started and never looked back.

3

build on your EDuCaTioN And skills

They say your formal education will make you a living, yet your selfeducation will make you a fortune. one great way to spark up the entrepreneurial spirit and ensure you are always on your game is to keep on learning, developing, improving and growing. As another mentor of mine Dale Beaumont once shared “If you are not green and growing, you are ripe and rotting”. Never stop your quest for knowledge and becoming a better version of yourself.

4

Aim HigH And set your goals

5

shAre your VisioN

and every successful entrepreneur has started at the bottom. The difference for them is that their vision was so compelling and magnetic that it attracted others to willingly join in and help make it happen. a great example is Mary Kay Ash, founder of Mary Kay Cosmetics, a company that has helped more than half a million women fulfill their dreams of owning a business. Google and Facebook are other examples of big companies that started out in dorm rooms and garages fuelled purely from passion. Once their vision was shared, our world has never been the same again!

hAve you noticed PAtterns or siGns out in the mArKetPlAce, thAt oPen uP oPPortunities for you to contribute And mAKe A difference?

There’s nothing quite like setting a goal and actually achieving it. Some of the most successful entrepreneurs of our time like Steve Jobs, Bill Gates, and Oprah all aimed high and achieved some pretty outrageous goals. They have created legacies that have touched and positively impacted millions of people. Don’t settle for less. You are only limited by your imagination. If you aim for the moon, worst-case scenario is you land on a star. So, how high are you aiming?

Every big business starts out as a small business,

GAVIN SEQUIRA for more info visit: BREAKFREEFROMCORPORATE.COM

THINKBUSINESS | 31


BUSINESS

brAndinG PhotoGrAPhy client case study

PAULA BRENNAN

PAULA IS A PERSONAL BRANDING PHOTOGRAPHER WHO CREATES PERSONALIZED CONTENT IMAGERY TO SUPPORT BUSINESSES AND ENTREPRENEURS. THROUGH HER WORK WITH HER CLIENTS, SHE HELPS THEM TO FOCUS THEIR MARKETING OBJECTIVES SO THE IMAGES ARE SPECIFICALLY DESIGNED TO RESONATE WITH TARGETED AUDIENCES AND ARE CAPTURED AND SIZED TO SUIT SPECIFIC PLATFORMS AND MARKETING MATERIALS.

cAse study SIMONE LESLIE, MASTER NEUROSTRATEGIST, SPEAKER, AUTHOR aND BloggER simone came to me keen to create a collection of images to expand her current marketing platforms and support her on her upcoming book tour in the us. Simone works with a wide range of people from fortune 500 companies, elite athletes, small business and everyday individuals so it was important to create images to appeal across all those markets – in particular the us market, whilst staying true to her down to earth, loveable Aussie self. simone is a naturally gorgeous woman, so the challenge was to make sure we created images that obviously showcase Simone’s natural beauty whilst still making her relatable & approachable. During her deep dive session, I was totally smitten with her quirky sense of humour, so it was essential this also translated through her imagery. above all it is vital to create images with purpose, that will help to elevate her presence and make her recognizable, relatable & an icon in her marketplace.

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1. Profile/PortrAit These are the images she can use for her social media profiles, website & business cards. The teal features heavily across Simone’s branding so we wanted to incorporate this colour here for consistency. Depending on the channels, it is important to project different parts of your personality to suit the audience.

www.thinkbusinessmagazine.com.au


2. PersonAlity simone needs to be able to cut and paste herself into her blogs, website and advertising, so the white backdrop was used so the images will be versatile for any occasional promotion. These images have her flair, style & personality written all over them – and are going to help potential clients to get to know and fall in love with simone and (most importantly) want to spend time and money with her!

PAulA WAs the cleAr choice When i needed to uPdAte my business imAGery With her uniQue tAlent, creAtive eye And brAndinG KnoWledGe. she hAs reAlly lifted my brAndinG And exPosure to A GlobAl mArKet.”

3. siGnAture as simone helps people in numerous areas of their life from wealth creation, health, relationships, career and business success we created specific wow images to resonate with these themes. As the US market is also quite driven by celebrity culture, we thought creating “covergirl” style images as well as showcasing Australian beach lifestyle may be attractive for this market.

booK A free 15-minute consultAtion to discuss uPdAtinG your PersonAl brAnd imAGery: WWW.PAULABRENNAN.COM.AU (07) 5326 1668

THINKBUSINESS | 33


BUSINESS

toP 10 tiPs for stArtuPs

WORDS MARK PADDENBURG, SUNSHINE COAST INNOVATION CENTRE

BEFORE YOU EVEN START PLANNING YOUR BUSINESS, MAKE SURE HERE ARE FOR CREATING A REAL BUSINESS, NOT CREATING A JOB FOR ARE NOT ACTIVE IN IT, WHILE CLEARLY A JOB DOES NOT). TREAT THE TIPS

1. be ProfessionAl And leAd from the Get-Go It’s not a hobby anymore. You now represent a business and it’s your opportunity to do your life’s best work. Everything about you and your startup needs to let people know that you are 150% committed to running a serious business. Your pitch, your story (your why) and the culture you create needs to be compelling. Whether you’re the founder or leading a team, how successful you are will come down to your ability to lead and unify people around a common purpose.

2. hAve A PlAn bAsed on Product mArKet fit Even if your plan or business model canvas is just one page – write it down. This will help clarify your objectives, goals, milestones, value proposition and will help you differentiate yourself from competitors. Do the necessary research and don’t keep your plan top secret - ideas are cheap. You need to action the ideas to create value and scale to achieve success.

3. APPly for your Abn And business nAme You’ll need an ABN (Australian Business Number) to run your business. It’s used for various tax and business purposes like claiming GST credits and confirming your business identity when ordering and invoicing. Applying for an ABN is free. Your business name or trading name is the name you use to run your business. While it’s not compulsory to register a business name, if you’re a sole trader or partnership and want to trade as something like Mic’s Lab, you’ll need to register it. It’s also a good idea to check if your preferred business name is available as a web address and social media profiles.

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4. secure customers And sAles eArly Make sure there is an authentic connection between you and the problem you are trying to solve. Do a lean, minimal viable product and test it out on potential customers and friends. Secure early adopters, customers, testimonials and revenue asap so your business can survive then thrive. Cash is king because until you collect the cash, you’ve not made a sale. Without sales, your cash flow is going in the wrong direction. Customers are your most important asset, so understand how to find and keep them (and your legal obligations when marketing and selling products and services to them). Really define the problem you are solving and who you are targeting: age, education level, income group. understand purchase patterns and motives, then define how they will benefit from your product. Then look at positioning your product to maximize those benefits and price your product accordingly. in sales you sell to two key emotions Fear and Greed.

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be reAdy to Pivot if you need to, hAve PlAn b reAdy in cAse the Worst scenArio hAPPens And exPect the unexPected.”

MARK PADDENBURG

YOU HAVE THE MOTIVATION, PASSION AND COMMITMENT. THE TIPS YOURSELF (A BUSINESS CONTINUES TO EARN MONEY EVEN WHEN YOU AS A CHECKLIST.

5. Get it riGht the first time Get the structure, legal and tax issues right the first time. It’s much more difficult and expensive to unsnarl a mess afterward. Learn what your legal and tax responsibilities are before you start your business and operate accordingly. There are four types of business structures – sole trader, partnership, company and trust. There are advantages and disadvantages for each structure, so investigate each option carefully. Having the correct registrations, licences and permits is crucial. You also need to consider registering a name for your website and insurance issues i.e. insuring your commercial risk and getting workers’ compensation for any employees, etc.

8. Get the money lined uP get the money lined up and dilute if you need to. The best startup capital comes from customers (and some grants,) however, if you need investment to grow your business, you need to be investment ready. set aside time to secure the capital (it usually takes three times longer than you expect). You must be prepared for rejection and to share the risks and rewards. There are many options so get professional advice and remember a smaller percentage of something funded is worth a lot more than 100% of something that’s not. If investors don’t say yes, move on. Be prepared to lose 30 per cent equity if you’re inexperienced and 10 per cent if you’re not.

9. be reAlistic Be prepared to aim high, defy logic and lose your social life (at least temporarily). startup businesses are often fun and exciting however they demand commitment and persistence to beat the resistance. You will need to put in long hours and lots of them to make the business work - it is certainly not a 9 to 5 proposition.

6. don’t be A lone Wolf get a business mentor and the right team. we all have blind spots and having a trusted mentor with deep knowledge and experience will help get you through the startup journey. know your strengths and weaknesses and surround yourself with the team you need to make the business successful.

7. Get Action oriented Time is precious - you’re your own boss now, but you will need to be disciplined. Success will depend on your own merits - think for yourself but also access great advice and remember, slow decisions will probably mean you miss out. Be ready to pivot if you need to, have Plan B ready in case the worst scenario happens and expect the unexpected.

10. be PAssionAte Enjoy the journey – it obviously helps if you do what you love. You’re going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it’s really important that you truly enjoy what you do… for the medium-term anyway. mArK PAddenburG CHIEF EXECUTIVE OFFICER INNOVATIONCENTRE.COM.AU

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the 5 biggest handbrakes on momentum WORDS MICHAEL MCQUEEN, BUSINESS STRATEGIST AND AUTHOR

FROM SONY TO MICROSOFT, ADIDAS TO ALCOA, AND BILLABONG TO LEGO, MANY A BRAND HAS LOST THEIR MOJO AT ONE TIME OR ANOTHER. RESEARCH SURVEYING HUNDREDS OF BRANDS AND BUSINESS LEADERS OVER THE PAST SIX YEARS SHOWS THAT A SIZEABLE 34 PER CENT OF RESPONDENTS DESCRIBE THEMSELVES AS HAVING LESS MOMENTUM NOW THAN THEY DID FIVE YEARS AGO. THESE ARE BUSINESSES WITH SOUND FINANCIALS, PROVEN REVENUE MODELS AND SOLID VALUE PROPOSITIONS, AND YET, THEY HAVE STRUGGLED TO MAINTAIN DYNAMISM, VITALITY AND GROWTH OVER THE LONG HAUL.

i vividLy recaLL the conversation I had with one particular CEO whose business had faced four straight years of decline. ‘How do we get our mojo back?’ My client asked with more than a hint of desperation - it had been a brutal few years. While his leadership team and I spent considerable time addressing this question and formulating a strategy for reviving the company’s fortunes, an equally important question should have centered on why and how they lost momentum in the first place. In my work as a business strategist and consultant I have found five common factors that contributed to the stumble or demise of almost every iconic business, brand, institution or idea throughout human history.

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1

the iNToXiCaTioN of success

In the late 1980s senior vice president of the Bank of America, K. Shelly Porges, observed, “The greatest challenge we have as we become successful is not to rest on our laurels, never feel like we’ve done it. The minute you feel like you’ve done it, that’s the beginning of the end.” The pages of business history suggest that Porges is on the money. success can be a dangerous thing. It tends to erode a healthy appetite for invention and innovation. Success creates a sense of satisfaction with the status quo and spurs complacency, which dulls our motivation to grow and to keep learning

2

the TYRaNNY of trAdition

success cAn be A dAnGerous thinG. it tends to erode A heAlthy APPetite for invention And innovAtion.”

Frank Vermeulen, associate professor of strategy and entrepreneurship at the London Business School, points to the fact that over time, humans naturally develop processes, routines, habits and traditions that we repeat habitually long after we forget the original reason for their existence. This would be fine, of course, if the world around us stood still — but it doesn’t. Things around us are changing faster than ever before and we must run faster and faster just to keep up. While we may naturally be creatures of habit, those who are committed to building and maintaining momentum must resist every urge to get stuck in patterns and routines from the past. After all, what has served us well yesterday may prove to be a shackle tomorrow.

3

the BaggagE of bureAucrAcy

Red tape, over-regulation and bureaucracy are the unholy trinity of inefficiency. Few other things have the potential to sap individuals and organisations of momentum faster. In order to maintain momentum, organisations need to engage in ruthless pruning of red tape. This may be unpopular, but it’s necessary to achieve long-term agility, responsiveness and momentum.

4

MICHAEL MCQUEEN

the faTiguE of monotony

Most businesses and individuals start off with an inspiring vision for the future. Over time as things settle into a routine, however, sober realism begins to replace optimism. The inspiring ‘big picture’ gets crowded out and lethargy, despondency and numbing monotony become the default. Naturally, there are always going to be days and seasons where we feel a bit dry and uninspired. However, when this becomes the norm, watch out. Purposeless productivity is soul destroying. Emotionless motion is exhausting.

5

the sEDuCTioN of immediAcy

In our modern ‘seize the day’ age where the pressing concerns of the current financial year, quarter or funding cycle can dominate our thoughts, it is critically important that leaders avoid short-term thinking. Momentum is never an overnight thing. It takes time to build, whether we like it or not. You can try and shortcut it, but all you’ll do is shortchange yourself in the long run. As James Kouzes and Barry Posner argue in their book ‘A Leader’s Legacy’, that we must be wary of becoming hostages to the present.

While the process of losing momentum is often incremental and unconscious, it is also predictable and measurable. My hope is that these five points offer echoed warnings of the traps that have derailed the momentum of countless other organizations and institutions over the years. After all, momentum is a powerful force to guard and preserve at all costs —once it is lost and working against you, turning things around can be an enormous uphill battle.

for more info visit: MICHAELMCQUEEN.NET

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Why your business needs a culture of courAGe WORDS MATT JACKSON, AUTHOR AND TEDx SPEAKER

EARLIER THIS YEAR THE WORLD ECONOMIC FORUM PUBLISHED ITS FUTURE JOBS REPORT AND THE RESEARCH LISTED COMPLEX PROBLEM SOLVING, CRITICAL THINKING AND CREATIVITY AS THE MOST VALUABLE SKILLS FOR 2020. NURTURING THESE SKILLS WILL ENABLE YOUR BUSINESS TO ADAPT AND THRIVE IN AN ERA OF UNPRECEDENTED FAST-PACED DISRUPTION. HERE ARE SEVERAL BEHAVIOURS YOU CAN IMPLEMENT IN YOUR BUSINESS TO CREATE A CULTURE WHEREIN PEOPLE VOLUNTEER AND CHALLENGE IDEAS.

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the dAnGer of too much comPetition is thAt the levels of AdrenAline Are too hiGh for too lonG. this leAds to stress And individuAls reGressinG into A self-centred, feAr driven, self-PreservAtion mode of oPerAtion.”

MATT JACKSON, AUTHOR

shift AWAy from AdversAriAl thinKinG iF yoU want to find a competitive, angry battlefield to hack your way through, business certainly offers that. However, you will find it exhausting and isolating to see everyone as an adversary. It is also impossible for you to grow personally. The business may get bigger, but you will not grow. The first step to not fighting is to stop picking fights. See problems objectively as something to be solved together rather than looking for who is at fault.

hire on PrinciPle An individual should fit the values and purpose of an organisation, not the look and personality. If you can find people you can disagree with, hire them. Then create a culture together wherein all members hold each other accountable to the values and purpose of the organisation. The people who agree with the principles of the organisation and are willing to challenge the execution of them are the people who open up the doors of opportunity for the business. The business is now open to possibilities outside your perspective.

collAborAtive or comPetitive culture Collaborative behaviour is not always superior to competitive behaviour, or vice versa. At the highest level though, the organisational culture must be a collaborative one which uses the adrenaline of competition in bursts when it serves the greater good. The danger of too much competition is that the levels of adrenaline are too

high for too long. This leads to stress and individuals regressing into a selfcentred, fear driven, self-preservation mode of operation.

fAcilitAte the creAtive instinct Everyone has a creative instinct. it drives our desire as a social species to contribute. when collaborators contribute ideas and the rest of the team expand on them, everyone is highly tuned and focused. If a brainstorm is facilitated well and judgment is truly suspended by all members then everyone feels energized. working collaboratively for half an hour reinforces how productive we can be when we have access to resources beyond our own. If the brainstorm is run badly, people feel exhausted, dismissed and undermined. Their instincts to contribute are extinguished by fears of standing out, failing, embarrassment or cynical thinking that believes no one would listen or expand on their ideas. Circumstances like these have the opposite effect on engagement, productivity and confidence.

sWAP comPliments for encourAGements Encouraging someone requires you to focus on the individual qualities unique to them that you are actually appreciating. This affects the person you are encouraging in a profound way that compliments and praise do not. Telling someone that they are “correct” or “smart” directs their attention away from their personal contribution and toward some system of assessment or metric outside of themselves.

To increase the amount a person participates direct the encouragement into their heart by saying, “I love the way you think, specifically the way you…”. This will lead to them thinking more and fearing less.

vAlue PAssion over exPerience when choosing what role is best suited to each team member, assign responsibility for a goal to the person who is most passionate about its achievement. Place more importance on passion than experience. If you hire people who have the most experience, you will often find that they lack the desire to challenge themselves and experiment with new ways of achieving the goal. They prefer to do it the way they have done it before. implement these behaviours one at a time and let the team know that it’s important that all members hold

if you cAn find PeoPle you cAn disAGree With, hire them.” each other accountable to them. That includes you too. ask them to help you become more aware of when you are encouraging people to participate and when your behaviour might be unintentionally shutting them down. when team members see the leader commit to personal growth, they are inspired to do the same. mAtt JAcKson IS THE FOUNDER OF AFFECTORS.COM AND AUTHOR OF THE AGE OF AFFECT

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building brAnd resilience WORDS KIRRILEE MURRAY

NEW TECHNOLOGY, CHANGES TO INFRASTRUCTURE AND ECONOMIC STABILITY ARE ALL FACTORS THAT AFFECT BUSINESSES ON A DAY-TO-DAY BASIS. WITHOUT A FOCUS ON THE FUNDAMENTALS OF MARKETING, THIS CHANGING LANDSCAPE CAN LEAVE SMALL BUSINESSES IN A HIGHLY VULNERABLE STATE. WITH OVER 330 PODCASTS UNDER HIS BELT, YOU’D BE HARD PRESSED TO FIND A MARKETING STRATEGY OR FUTURE TREND THAT AUSTRALIA’S NUMBER 1 MARKETING SPEAKER, DOESN’T HAVE AN OPINION ON. THINK BUSINESS MAGAZINE SPEAKS WITH TIM REID ABOUT HOW TO BUILD A RESILIENT BRAND IN THE EVER-EVOLVING LANDSCAPE THAT IS MARKETING FOR SMALL BUSINESS.

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scAn this PAGe to WAtch tim reid’s lAtest mArKetinG PodcAst

tim’s mArKetinG mAntrA

1

gET YouR CoRE MESSAGING RIGHT

2

HaVE a soliD ONLINE FOOTPRINT

3

gET YouR BRANDING RIGHT

4

REsPECT YouR VISUAL IDENTITY

5

BE MiNDful of YouR GOOGLE RANKING

6

BuilD a TRiBE of SUPPORT PEOPLE

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i oPerAte more from the heArt thAn i do from the heAd, so GoAls hAve never feAtured on my PlAnninG boArd. i use my Gut instinct And my intuition to mAKe my next move.”

fundAmentAl strenGth

$

$

mArKetinG As An investment, not An exPense For small businesses and entrepreneurs, start-up capital is often thin on the ground, which means it can be hard for businesses owners to prioritise marketing spend. Tim explains this is due largely to the misconception that marketing has to be expensive. “They think that marketing is going to cost a fortune, and it is such a limiting belief. To get the right message out in front of the right people was expensive, but the marketing world has changed, and all of these changes play right into the hands of start-ups who have very limited budgets.” with the continually increasing options of free social media channels, costper-click and trackable advertising, marketing has never been more measurable or targeted, which removes a lot of the guesswork out of where to invest. smartphones have also given business owners the power to create their own social media brand identity without the need for engaging marketing professionals.

As powerful as technology is for Small Business marketing, it can also be a minefield of clutter if you aren’t presenting a consistent message. “from a marketing point of view there is always going to be another bright, shiny, new object and they are just distractions.” Tim has proven in his own career that focusing on the fundamentals of marketing is of more importance than keeping up to date with technology trends. “Get your message right first before you worry about where to put it. Have a website and make sure you populate it on a regular basis, with really helpful content. Get your brand right. Visually the brand is an emotional attachment, so make sure that you have a great logo for every marketing touch point. i encourage business owners not to worry about what the future can bring and focus on the here and now and what they can do to really own a particular space.”

Push mArKetinG vs Pull mArKetinG Tim is a big believer in finding a way of differentiating your brand from its competitors. with the accessibility and choice that online business offers to consumers, there is no longer any industry that does not exist in a crowded market space. This begs the question to small business owners of why would a consumer choose your brand over another? Tim’s approach to this challenge is all about attracting customers by offering them solutions that fit their problems. “There are lots of different marketing strategies, but for me, it’s about the Boomerang Effect, which is the concept of helping and being helpful in your marketing. Pulling people towards you because they love the fact that you are helping them solve problems, to make more informed decisions about purchases, vs push marketing like advertising, sponsorship and direct mail, all of which are valid strategies, but I love being helpful.”

TIM REID

WhAt’s next? Tim is still as passionate as ever about speaking at conferences and his show ‘Small Business, Big Marketing’. “My Podcast is very special to me and i will continue to do that. Secretly I’d love to do another podcast about something completely unrelated to marketing or business, just because I love the audio medium.”

to find out more, visit: WWW.TIMREID.COM.AU

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When life feels liKe A circus... be the strong lady (or strong man) WORDS CHARMAINE CHILDS

WE ARE SHINING THE SPOTLIGHT ON A FEW OF THE FEATS-OF-STRENGTH THAT YOU CAN PERFORM TO CREATE GROWTH AND TAKE CENTER STAGE IN YOUR LIFE. When things feel chaotic or off track in life or work, it can feel like a Circus: clowns running around in circles; acrobats risking a fall and working so hard we see their sweat, jugglers trying to keep an impossible number of balls in the air. We don’t know where to look, our hearts race and we hold our breath. scAn this PAGe to WAtch the stronG lAdy in Action At the GoP vAriete theAtre in GermAny!

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then the stronG lAdy tAKes the stAGe, And tAKes control. i am a strong lady. i have spent the past 14 years performing around the world with a mix of strength, elegance, excitement and humour. Drawing on some exciting findings from the field of neuroscience, here are a few feats of strength you can perform as the strong lady or strong Man in your own life to make it feel less like you’re managing circus.

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feAt of strenGth: teArinG A booK

feAt of strenGth: liftinG A WeiGht Often the thing that stands in the way of our growth is the weight of negativity in our thinking. The brain is wired with a negative bias as part of our survival instinct, but we can train our minds to lift this weight by consciously choosing our focus of attention. when we are mentally moving towards something we want, we engage the approach system. when we are mentally moving away from something we don’t want, it is the avoidance system of the brain that is firing. Being in approach mode offers us increased mental and physical strength, it enhances our immune system, lowers the stress hormones and increases the happy hormones. It is the difference between stepping onto a stage, excited to connect with the audience or stepping into the spotlight determined not to embarrass myself. Even a strong lady can not control everything that is happening or every thought that pops into her head... but you don’t need to arm wrestle your thoughts. Just repeatedly keep choosing where you focus your attention. Choosing what you want to move towards and letting everything else blur into the background. Mindfulness meditation, gratitude practices and regularly ‘getting clear’ about your intentions and your goals are a few different ways to strengthen this muscle.

feAt of strenGth: breAKinG A chAin an iconic strong lady stunt is to break a metal chain with bare hands. In life, the equivalent feat-of-strength is to break a chain reaction. Whenever we repeat an action, behaviour or reaction it fires a chain of neurons in the brain that will physically grow closer to each other, making it take less energy to repeat next time. The brain will always opt for the path of least resistance, firing the strongest neural chains. This means that the actions or reactions that we repeat the most, become our strongest habits. Habits are the gym sessions of the mind, it is by changing our small daily habits that we can create the biggest changes and growth. We must first become self-aware enough to recognise when we begin to fire a neural chain or habit that is not helpful. We then need to pause, get a good grip and snap that chain. No need to fixate on it or get frustrated by it, just break it and throw the pieces aside. Take a moment to celebrate the feat-of-strength, hear the audience applaud, maybe even kiss your biceps. Then replace the old habit with an action or behaviour that is helpful in moving towards the growth you want. Deliberately choose the action or behaviour that you want to replace it with and repeat it over and over again. This will strengthen the new neural chain and eventually become your instinctive response.

Repetition does not only work to create strong neural chains for action, but also creates our beliefs. Beliefs are just thoughts and stories that we have repeated often enough. For any growth or change that we desire strongly, we are likely to have a story or set of beliefs about it that are either propelling us forward or holding us back. The work of the strong lady is to examine their beliefs or stories and recognise that they are just habits of thinking which can be torn up if they aren’t helpful. The strong lady takes any story, no matter how thick and with her bare hands tears it in half, to rapturous applause. One of the thought patterns that most often stands in the way of growth is that things should be some other way or that they shouldn’t be the way that they are. Even a strong lady can not win when wrestling with reality. The fastest way to move forward is to stop wasting energy fighting with the way things actually are. See reality as it is, decide how you want to change it and write a new story that focuses on what is going to happen next. Just like any habit, repeat the thoughts that move you in the direction of growth and they will become stronger until they become beliefs. Your new story will have a much happier ending.

tAKe the stAGe Just like building biceps at the gym, developing strength in our lives is mostly about the things we do every day. setting aside time to regularly clear your mind and make plans is important in making sure that our habits and ideas are moving us in the right direction. When the strong lady takes the stage, she has a plan, she is open to improvise and she is ready to have fun.

chArmAine is bAsed in the uK And Will be in AustrAliA for PerformAnces, sPeAKinG events And WorKshoPs from december 2016 until lAte februAry 2017. find out more At WWW.stronGlAdyProductions.com

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scAn this PAGe to leArn hoW to comPArtmentAlise your finAnces into columns

A life of PAssion WORDS CHRIS CHILDS, ENTREPRENEUR AND THINK MONEY FOUNDER PHOTO PAULA BRENNAN

WHILE SUNSHINE COAST BUSINESS OWNER AND ENTREPRENUER, CHRIS CHILDS, BELIEVES THAT MONEY IS NOT THE MOST IMPORTANT THING IN LIFE, SHE CERTAINLY FEELS IT IS RIGHT UP THERE WITH OXYGEN. IN BUSINESS, THIS SUNSHINE COAST WEALTH WARRIOR SHARES HER KNOWLEDGE AND PASSION ABOUT PROPERTY INVESTMENT WITH HUNDREDS OF HAPPY THINK MONEY CLIENTS, DAILY.

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often PeoPle AsK me Where i find the time to do it All... And i tell them it’s simPle, i live my life in columns.”

i have aLways been absolutely passionate about wealth creation and business. so much so that i run a business helping people create wealth. But i also run other businesses and many people say, ‘you must be so busy Chris - with so many different things, how do you do it?’ Anyone who knows me, knows my answer to this – ‘I run my life in columns’. What does this mean? It means that i create separate columns for each of the different areas of my life, each business, my investments and my personal sides are all different and all in their own columns.

separating your personal and business sides from your investment side really is the key to success. we start on the personal side of things, because this is the perfect place to start. However, the true magic starts when you can concentrate on the investment side. So, instead of getting overwhelmed by crossing over between each area, I choose to deal with each separately, which for me gives me the time to focus individually on each one. And it means importantly that my business money is separate from my investments which are separate from my personal finances. So one doesn’t affect the other. That way I can focus on individual strategies and there is no risk of one affecting the other. I am very confident when I say that you too can have both a successful business and a successful investment strategy, so that when it comes to retire from your business you can still have an income in retirement.

for All of your business, money And ProPerty needs:

PHONE (07) 5430 4777

chris chiLds was a financial planner for 10 years prior to becoming a mortgage broker specialising in debt reduction. Chris and her husband Jack began to plan their retirement and built their own property portfolio. Chris’s clients wanted to follow her lead and learn how they too could build a property portfolio, thus Think Money Wealth Through Property was born. Chris’s passions are property, people and business. she has had the privilege of transforming peoples’ lives on a daily basis by teaching them to change the way they manage their finances.

the looK of AmAZement When PeoPle reAlise WhAt they cAn ActuAlly Achieve is Priceless.”

CHRIS@THINKMONEY.COM.AU

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MONEY

reduce your debt, fAst! THE BIGGEST FALLACY OUR PARENTS TAUGHT US IS TO BELIEVE A HOME LOAN IS A “LONG TERM” DEBT. MOST OF US SAW OUR PARENTS WORK HARD ALL OF THEIR LIVES TO PAY OFF THEIR MORTGAGE, AND THEN STRUGGLE TO RETIRE COMFORTABLY. IT IS NURTURE NOT NATURE THAT KEEPS MOST OF US IMPRISONED ON THE MOUSE WHEEL OF DEBT.

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oUr GrandParents, God bless their little cotton socks, were taught by the banks how to do their banking, they passed this on to their children who passed it on to you. They had a lot to say about money... “MONEY DOESN’T GROW ON TREES.” “A PENNY SAVED IS A PENNY EARNED.” “IF YOU COUNT YOUR PENNIES, THE DOLLARS WILL TAKE CARE OF THEMSELVES.” “IF YOU CAN’T PAY FOR IT – DON’T BUY IT.”

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chAnGe the WAy you do your bAnKinG And most of us cAn PAy off our homes in 5 to 7 yeArs (insteAd of 25) And AcQuire 10 ProPerties in 10 yeArs Without struGGlinG With the holdinG costs.”

Most of us believe that we should work hard, save to buy our home, spend the rest of our lives working to pay it off and hopefully, save a bit to retire on. By learning the benefits of how loans work and setting up the correct finance platform for both fast debt reduction and smart wealth creation, most of us can pay off our homes in 5 to 7 years (instead of 25) and acquire 10 properties in 10 years without struggling with the holding costs. It’s just a matter of setting your loans up properly.

let’s looK At your current situAtion... Have you been paying your home loan off for years and feel like you are getting nowhere? add up the amount you have paid into your loan to date: Your monthly payment – say $2k x 12 months x 5 years = $120k. Most loans have only reduced by $5k or so in that time... Now we have an oMg moment! It’s time to do things a bit differently. Change the way you are doing your banking, follow the next 7 steps and you will be well on your way to getting out of debt fast.

for All of your business, money And ProPerty needs:

folloW these stePs And WAtch the yeArs fAll off your loAn

1 2 3 4 5 6 7

the riGht Loan Use a cash ManaGeMent systeM Use yoUr credit card correctLy BanK yoUr Pay into yoUr Loan stay orGanised invest and Get ahead seParate yoUr PersonaL and investMent BanKinG

PHONE (07) 5430 4777

CHRIS@THINKMONEY.COM.AU

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MONEY

the ‘reAl’ vAlue of money IF YOU WANT CHOICES IN RETIREMENT, YOU’RE GOING TO NEED TO PUT A PLAN IN PLACE

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this isn’t the sort of plan you may have been told before. You know the one that goes like this: You have to work hard, you have to save hard, you have to invest in super, you have to invest in shares and in retirement you have to sell your property to get cash to live off. who’s Been toLd that tiMe and tiMe aGain? Well that’s not actually correct. It is more about being smart with your money and separating your life from your investments. at the same time it is important that you are enjoying life all the way through because you

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money devAlues over time! As A finAnciAl PlAnner, i Would Point out to clients hoW much money they hAd, And hoW lonG it Would ProbAbly lAst becAuse the cost of livinG Goes uP Which mAKes the vAlue of money Go doWn.” don’t want to be the richest man in the graveyard. What happens if the ‘big red bus’ comes along and you haven’t made it to retirement but you haven’t lived because you’re doing everything to save towards retirement? Where is the fun in that? It is important to have balance. I was a financial planner for 10 years and we taught people to save for retirement like this: During the build

up to retirement, we advised to invest in balanced or higher growth funds, which was important because it gave higher returns during the growth phase. Five years before retirement, we advised to move from the high-risk funds to cash based investments to retire with cash. The reason being it is lower risk, but it is also lower return. If you don’t change and you are in high-risk funds and let’s say a week before you retire the market crashes (which it can do) you can end up losing more than half your money. So there’s a problem having high-risk investments when you retire, however, there is also a risk to being invested in cash. This is because of the way that money works. The problem with cash is: Money devalues over time! As a financial planner, I would actually point out to clients how much money they had, and how long it would probably last because the cost of living goes up which makes the value of money go down. Let’s say you retire with $500,000 cash invested and imagine you miraculously received a 10% return on the cash investment. This would give you $50,000 per annum income. we are taught that we should be living off the interest. But when you start to live off the interest, guess what happens? The cost of living goes up so you start spending more than the interest and start to eat into the capital and then you earn less interest because the cost of living goes up and the cycle continues with the money depleting itself until you run out of money. That’s why cash doesn’t work in retirement.

retirement plan because property values go up over time and so does rent. The reason we don’t sell property is because if you sell property, you’re going to end up with cash. It’s a fact that money devalues over time. If you just hold money in retirement you’ll have less to spend. You can use money or better still equity to create a property portfolio. Property values go up over time, putting your money in property should keep your wealth growing in line with the cost of living. What’s more, your rent goes up and your debts reduce, so the more income you will have in retirement. It’s this NPI ‘nonperspiration income’ that helps you to retire comfortably. While property values usually go up, it doesn’t matter if they don’t. People often worry the property market might not continue to grow at 5% or 10%. The reason it doesn’t matter is because you should never sell. If you don’t sell the value of property in retirement is irrelevant. You don’t use the equity in retirement, you live off the property ‘return’ (rent) and rent normally increases with the cost of living, thus giving you an ongoing and increasing income for the rest of your life.

ProPerty vAlues Go uP over time, PuttinG your money in ProPerty should KeeP your WeAlth GroWinG in line With the cost of livinG.”

Jack and I chose property for our

for All of your business, money And ProPerty needs:

PHONE (07) 5430 4777

CHRIS@THINKMONEY.COM.AU

WWW.thinKmoney.com.Au THINKBUSINESS | 49


PROPERT Y

the four rules of property investing WHEN IT COMES TO PROPERTY, THERE ISN’T A LOT CHRIS CHILDS HASN’T TRIED. SHE HAS LITERALLY STEPPED IN EVERY PROPERTY PUDDLE THAT SHE COULD HAVE AND TOOK SEVEN YEARS TO WORK OUT HOW TO DO IT RIGHT. THROUGH UN-PARACHUTED TRIAL AND ERROR, SHE DEVELOPED FOUR CRUCIAL RULES WHEN IT COMES TO BUYING PROPERTY.

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the most imPortAnt PArt of successfully investinG in ProPerty is the orGAnisAtion of your money.” www.thinkbusinessmagazine.com.au


1

sePArAte your life from your investments over the PAst 100 yeArs, AustrAliAn ProPerty hAs GroWn in vAlue on AverAGe 10% Per Annum.”

The most important part of successfully investing in property is the organisation of your money. By getting control of your income and personal mortgage, getting debt reduction and money control happening, you can confidently launch into property investment. We teach our clients to separate their personal side from the investment side and build a property investment portfolio. Many investors fail from the financial pressure when the rental property expenses and income flow in and out of their personal accounts. By managing their investments and not having the holding costs affect their personal income, our clients increase their wealth, without decreasing their lifestyle.

2

buy neW, not old

There is quite a difference to wealth creation by buying new properties instead of old. Over the years, the drain on cash flow from constant maintenance and repairs of old properties can really hold back your ability to buy more investment properties.

CHRIS CHILDS

The benefits of buying new property are not only an increased cash flow but also being able to attract better tenants and importantly, the bonus of receiving tax deductions from depreciation. With all of these financial benefits, you are able to go from negatively geared to positively geared much faster.

3

interest only loAn!

interest only loans always spark debate in both the home owner and property investment circles. We use interest only loans but pay extra, assisting in massive debt reduction against your home mortgage. Most clients reduce their debts in record amounts – more than $30-$40,000 in the first year. On the investment side there are big benefits. Interest is tax deductible, principal payments aren’t. It’s easier to manage the investment holding costs if you minimise the cost of payments during the ‘negatively geared’ period. As the property goes up in value, so does the rental income. The property should go from negatively geared to positively geared and then the extra rent reduces the investment debt. so it is all about the timing and maximising the tax deductions.

4

never sell

Over the past 100 years, Australian property has grown in value on average 10% pa. It’s not 10% every year, it works in cycles, usually 2 or 3 years of really good growth, 5 or 6 of flat and a couple of years of negative growth or retraction; meaning that a property can have flat or even negative growth over an 8 year period. The property growth cycle is often debated, but history shows this as fact, though no one has a crystal ball for the future. There are many benefits of keeping property - you incur buying costs only once, and pay no commissions on selling or capital gains tax. But by selling, taking profit and buying again you maximise the costs and minimise the profits. These costs can equate to $50 or $60,000 even before capital gains tax. By not selling, this money can be utilised as equity to purchase more property, and your existing property continues to grow as well as the new one.

for All of your business, money And ProPerty needs: PHONE: (07) 5430 4777 CHRIS@THINKMONEY.COM.AU WWW.THINKMONEY.COM.AU WWW.CHRISCHILDS.COM.AU

THINKBUSINESS | 51


colours AvAilAble

MONEY

$Pend it

MAKE WORK EXCITING WITH THE HOTTEST GO-TO GADGETS AND CLEVER CREATIONS OF TODAY.

CUT THE CORD

Cablestop is the nifty little device designed to ensure you no longer have to struggle to reach behind your desk to access your cords. If you’re in a position where you often need to plug in and unplug devices from cables at your desk – such as power cords, phone charging cables and USB adaptor cords – and you’re sick of these cables sliding off your desk once unplugged, the Cablestop uses the gentle force of gravity to secure them in one convenient place, without the messy tangle of wires. Cablestop is available in white, red and grey. RRP $30 each, Stockist: cablestop.com.au

CHARGE ON The MIXIT Power Pack 4000 ensures you always have an extra charge within reach. With two USB ports, you can charge two devices at the same time while you’re on the run, so you never have to worry about your phone or tablet running out of battery while you’re out of the office. Boasting a compact and lightweight design, it’s ideal for travel and easily slips into any handbag or backpack. RRP $39.95, Stockist: Belkin.com.au

TABLET TAMER

DRAWING INSPIRATION The wacom intuos 3D is the latest innovation built off the back of the 3D printing revolution. The Intuos 3D is the first complete and affordable technology that enables the user to create print-ready 3D designs on both Mac and PC. The intuos 3D consists of an intuitive pen and drawing board built using Pixologic’s powerful ZbrushCore software – the same sort of technology professional film and game studios have been using for years. RRP $299, Stockist: Officeworks, buywacom.com.au

52 | THINKBUSINESS

Great for the office and at home, the Goos-e is a flexible yet stable tablet holder that makes it easier to multitask. Designed with an extendable holder that fits most tablet sizes, and a long ‘arm’ that is flexible enough to be molded into the position you require, yet strong enough to remain in place, the Goos-e enables you to have access to your tablet’s screen while allowing you to keep your hands free. Set it up next to your laptop or desktop so you no longer have to flick between windows and watch your productivity soar. RRP $179, Stockist: www.goos-e.com.au

www.thinkbusinessmagazine.com.au


MONEY

FINANCIAL TECH

HIGH GLAMOUR TECH Ora: LED Compact Mirror usB charging power bank is the latest in fashionable tech. It’s a premium designer lED compact mirror with an internal power bank battery pack to charge your mobile phone and smart devices on the go. with 2600MaH capacity and two style mirrors – one including 2x magnification and LED lighting for accurately applying makeup – the latest gadget by Zumi is multifunctional technology catered to a female market. RRP $159.95, Stockist: www.zumi.com.au

Expensify is a fantastic computer program that allows businesses to quickly take care of their finances by making it easier for them to track their expenses. Integrated with major business players the likes of Quickbooks, Xero, Oracle and Receiptburner, this nifty program and app gives employees the ability to quickly and easily create expense reports by simply taking photos of their receipts, in addition to providing fast reimbursement for work expenses among other great applications. Through Expensify, bosses can also set rules for expense approval – meaning that for straightforward cases, the app will grant approval so you can cut waiting time in half. Expensify is free for individual use, $5 a month for each active user for start-ups and small businesses, and $9 per month per active user for corporate companies. Stockist: use.expensify.com

REACH FOR THE STARS HANDY HUES The Philips HUE wireless lighting system is great for the home and workplaces where a little ambience can go a long way. Controlled using an app on your phone, the HUE system alters the lighting to suit the mood you’re after, whether that’s a soft glow or a colourful party atmosphere. You can even set the lighting to boost productivity! The Philips HUE system works for both iOS and Android devices, but for iPhone users there is even more power, with the system able to respond to voice commands through siri.

The Daily Greatness Business Planner provides resources to not only improve your business but also yourself. It’s part planner, part business advisor, and part self-help coach all wrapped into one. RRP $44.95, Stockist: www.dailygreatness.com.au

RRP from $284, Stockists: Harvey Norman, www.simply-leds.com.au

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BUSINESS

body lAnGuAGe for interviews WORDS ALLAN PEASE

IF THERE’S ONE PLACE WHERE BODY LANGUAGE IS GOING TO MAKE A DIFFERENCE TO YOUR DAY, IT HAS TO BE AT A JOB INTERVIEW. HOW YOU COME ACROSS VISUALLY ASSISTS THE INTERVIEWER TO MAKE A JUDGEMENT ON WHETHER THEY FEEL YOU WILL FIT INTO THE TEAM DYNAMICS OR NOT. BODY LANGUAGE EXPERT, ALLAN PEASE SHARES SIMPLE BUT EFFECTIVE DO’S AND DON’TS FOR YOUR NEXT JOB INTERVIEW.

first imPressions Are the ‘love-Atfirst-siGht’ of the business World.”

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INTERVIEW DO’S

1

enter With confidence

2

sAy their nAme

How you enter a room tells others how you expect to be treated. Don’t stand in the doorway even if your interviewer is on the phone. Enter the room, put down your briefcase or bag and sit down immediately.

Especially if you are meeting your interviewer for the first time, try to use their name twice in the first 15 seconds. It will make them feel important and you will remember their name through repetition.

3

Position yourself

Angle your chair, or body, 45 degrees away from the interviewer. This prevents you being stuck in the face-to-face position which can feel too intense and takes the pressure off your interview.

4

leArn the JArGon

5

exit With confidence

Use power words, particularly in phone interviews. Research shows that some of the most persuasive words are ‘discovery’, ‘guarantee’, ‘love’, ‘health’, ‘money’, ‘easy’ and ‘you’. Choose words that are relevant to the industry you wish to work in.

Plan your exit beforehand – pack your things calmly and deliberately, not in a frenzy. Shake hands, turn and walk out confidently. If the door was closed when you entered, close it when you leave. Whether you are conscious of your body language or not it, how you present yourself influences people’s perception of you even before the conversation starts. What you don’t do can be just as crucial as what you do.

www.thinkbusinessmagazine.com.au


scAn this PAGe to WAtch AllAn PeAse Present his entertAininG tedx tAlK on body lAnGuAGe

reseArch shoWs thAt the first 15 seconds of An intervieW Are vitAl”

INTERVIEW DONT’S

1

don’t forGet your GroominG

in most occupations it is considered appropriate to either be clean shaven or have facial hair professionally groomed (especially men). while a beard or moustache may be part of your personal style, it is a sign of respect for both yourself and your potential employer to be neat and tidy.

2

don’t be disorGAnised

Never overfill your briefcase or folder. it will make you look disorganised. The bigger or thicker your luggage, the less authority you project.

3

checK your Posture

If you have a choice, never sit on a low sofa that sinks so low it makes

you look like a giant pair of legs topped by a small head – if necessary, sit upright on the edge so you can control your body language and gestures.

4

don’t rAmble

5

mAKe sPAce for the shAKe

Avoid talking for long periods. High-status individuals communicate effectively in short, clear sentences, so don’t talk endlessly. This is particularly important in a phone interview as all the interviewer can judge you on is what you’re saying.

Where possible, never shake hands directly across a desk. Step to the left of a rectangular desk as you approach to avoid being given a palm-down handshake, which would immediately put you in a ‘one-down’ position.

ALAN PEASE Phone: 5445 5600 INFO@PEASEINTERNATIONAL.COM WWW.PEASEINTERNATIONAL.COM

THINKBUSINESS | 55


BUSINESS

Knowledge for emPloyment emPoWerment WORDS MICHALLE FAULKNER PHOTO PAULA BRENNAN

FOR SUCCESSFUL GROWTH IT IS VITAL TO KNOW HOW TO BUILD THE RIGHT TEAM OF PEOPLE. IN BUSINESS, FINDING AND MANAGING YOUR EMPLOYEES CAN SOMETIMES BE A MINEFIELD OF LEGALITIES AND COMPLIANCE. EASTCOAST HR HAVE FLEXIBLE SOLUTIONS TO HELP YOU NAVIGATE EMPLOYMENT RELATIONS WITH SPECIALISED TRAINING OPTIONS RELEVANT TO YOUR BUSINESS.

at EastCoast HR group we have a philosophy of People Investment. We believe that if you are informed you are empowered. we advocate that when clients and business owners have the relevant compliance information at hand, it ensures that they can then develop sound HR systems and platforms for business growth but also be compliant, minimising the risk of costly adverse action. There are so many compliance obligations and responsibilities employers must adhere to – from industrial relations through to work health and safety legislation – it can be a minefield to navigate. The sunshine Coast is also the home of small business with many of us required to wear multiple hats, so it’s easy to see how our systems and sometimes compliance can be neglected. The only way to provide yourself with this information is to be educated and informed through ongoing professional development. Don’t fear – help is here! We’ve listened to you, our clients and business owners of the Sunshine Coast. we know you want to be informed about employment relations in a way that is practical, easily applied but most importantly, relevant to your business operations. We also know that you don’t want to have to travel to Brisbane to find it. in making your training investment wisely we also know, that it is essential to choose the most indepth and value-added training available. it gives us great pleasure to announce our exciting new practical workshops around employment relations compliance – The Employment Relations Masterclass series. our Employment Relations Masterclasses are facilitated by our senior consultants who are specialists in their areas of expertise

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and who can provide you with high value, relevant content, real business scenarios and case studies, and practical result focused outcomes. Participants will enjoy a small intimate training environment with class numbers limited to six participants and each master class shall include a 15 minute networking opportunity to engage and interact with likeminded business owners and managers. whether you are a novice or have some experience in employee relations, we have the workshop content to suit. Unfair dismissal claims and internal employee conflicts are very common and are an incredibly problematic issue for many businesses on the Sunshine Coast, says HR practitioner Michalle faulkner and managing director for EastCoast Human Resource group.

We believe thAt if you Are informed you Are emPoWered.”

“at EastCoast we support many clients who find themselves at risk, often stressed and flustered in the aftermath of an employee termination to support them in preparing their employer response to Fair Work because of claims by those employees of an absence of procedural fairness being used in their dismissal,” Mrs. Faulkner said. “when you have to deal with claims such as this, it eats up the limited and valuable resources you have – time, money and energy – which would otherwise have been better utilised in other areas of your business.”

The EastCoast consulting team have also identified a number of other issues such as providing support and information to employers in the areas of managing workplace mental health matters, recruitment and retention, workplace investigations as well as good employee relations management practices - as a mustknow for employers.

the WorKPlAce, the methodoloGy of WorK And the need for multisKilled WorKers is rAPidly defininG the World of WorK in AustrAliA And We hAve to be reAdy.”

‘The workplace, the methodology of work and the need for multi-skilled workers is rapidly defining the world of work in Australia and we have to be ready. Employers need to be aware of the industrial relations and practices that govern employment if they want their business to avoid costly legal action in the future,” Mrs faulkner said. “We want to share some of that knowledge and help other small businesses like ourselves, navigate the sometimes confusing workplace and industrial relations requirements so they at least have a heightened awareness by understanding the basic statutory requirements and their legal responsibility so they know the pitfalls to look out for.”

to discuss WhAt hr solutions they cAn offer your business, CALL EAST COAST HR ON 5443 6022, EMAIL MICHALLE@EASTCOASTHR.COM.AU OR FOR MORE INFORMATION VISIT WWW.EASTCOASTHR.COM.AU

THINKBUSINESS | 57


Experience our series of EMPLOYMENT RELATIONS MASTERCLASSES At EastCoast Human Resource Group we believe that people investment coupled with sound and compliant employment relations are essential for any business owner,

MASTERCLASS SERIES

supervisor, manager or CEO in successfully, ethically and profitably achieving the business goals, outcomes and results.   Committing to invest in your people is to provide yourself, your senior management and supervisors, with high level practical skills and expertise to improve your business performance. In making your training investment wisely we know, that it is essential to choose the most in-depth and value added training available. Join Heidi Bishop in a series of Employment Relations Masterclasses to learn more around employer responsibilities and obligations under the Fair Work Act. Designed for Employers, HR Managers and Supervisors these Maroochydore based classes can also be held on site.

½ DAY WORKSHOPS Employment Relations 101 (2 part workshop) This interactive program will guide participants through the relevant employment legislation and guiding principles in relation to the engagement and commencement of an employee. Participants will also grasp compliance obligations to mitigate risk and discover the benefits of effective Employee Relations management.

Everyday HR Conversations This interactive program will provide participants with the skills, tips and tools to hold everyday individual conversations to address ‘people’ related issues. Participants will gain confidence to appropriately approach conversations with employees to address everyday issues such as emerging patterns of lateness, absenteeism, lack of motivation, ‘attitude’ and other sensitive matters.

FOR MORE INFORMATION CONTACT HEIDI BISHOP

heidi@eastcoasthr.com.au I 07 5443 6022 58 | THINKBUSINESS

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Workplace Investigations (full day workshop) Provides participants with an understanding of the investigation processes and the underlying key principles involved in a robust, fair and objective investigation. Participants will gain tips, tools and processes to ensure their investigation framework is efficient, credible, thorough and holistic. Participants will also explore investigation protocols including – particulars of complaint, terms of reference, template letters outlining the investigation process and guidelines for support people, arranging interviews, interviewing parties, note taking, collating and assessing evidence, making findings, defining recommendations and drafting an investigation report.

Managing Workplace Behaviour and Risk Provides participants with the broader spirit and intent of legislation covering standards of behaviour in the workplace. Participants will gain an understanding of what discrimination, harassment, sexual harassment and bullying behaviours potentially look like. Participants will also explore strategies to mitigate risky behaviour, create a healthy compliant culture and apply early interventions to address risky behaviour.

Managing Mental Health in the Workplace Provides participants with key principles, processes and skills related to managing mental ill health in the workplace. Participants will explore strategies around privacy and confidentiality considerations, mitigating possible adverse actions or discrimination, identifying reasonable adjustments as well as early interventions and performance management.

Mitigating Unfair Dismissal Provides participants with an understanding of the key points combined with the spirit and intent of procedural fairness when terminating an employee. Participants will gain an understanding of the importance of having systems and policies in place (and adhering to them) when managing non-performance, disciplining or terminating an employee.

Recruitment & Selection (2 part workshop) Provides participants with the background knowledge, tips and tools to undertake a fair and credible recruitment process. This program will explore the important preparatory steps involved once a vacancy arises within your team and up to conducting the actual interview.

See the workshop calendar online:

www.eastcoasthr.com.au/training


BUSINESS

scAn this PAGe to discover hoW crAiG levitt cAn helP you Get your stAff excited About your business

scoring GoAls WORDS TAYLA ARTHUR PHOTOS CHESTERTON SMITH PHOTOGRAPHY

IT’S THE SECRET TO MANY OF THE WORLD’S MOST SUCCESSFUL BUSINESSES, WITH THE LIKES OF GOOGLE AND VIRGIN AUSTRALIA FAMOUS FOR IT – YET WHEN IT COMES TO TAPPING INTO THEIR EMPLOYEES’ PASSIONS TO BOOST PRODUCTIVITY, THE MAJORITY OF BOSSES REMAIN OBLIVIOUS. THINK BUSINESS DEVELOPMENT’S CRAIG LEVITT SHARES HOW EMBRACING STAFF GOALS HAS THE POWER TO TRANSFORM YOUR BUSINESS. our lives are typically divided into two areas – work and personal time – and there is often an unspoken rule not to mix the two. But what if getting to know your employees’ personal goals was actually the secret to unlocking their full potential within your business?

them motivated, it’s more likely to benefit your business,” explains Craig. “As a business person, I can’t just say to someone, ‘I want you to be more passionate about my business’, and expect them to be; there needs to be something they get in return.

As the business development manager for Think Business Development, Craig Levitt works alongside employers and their staff through one-on-one coaching and group training programs that teach the power of goal setting, and according to him, this is very much the case.

“It needs to be more of a matter of understanding of what they are passionate about, then aligning that to your business. It’s the same in getting staff to think up more ideas to benefit your business; it’s more interesting to them if they’re connected with it somehow, so find out what drives them and forge a link.”

“But what’s in it for me?” you say. Well, according to Craig, that is exactly the point.

Craig goes on to explain that where many businesses go wrong is they assume that because work is traditionally a financial transaction where employees are paid to provide services, money will always achieve the results. But while money can

“If you can tap into providing something for your staff to get

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often buy the things people most desire, this doesn’t always ring true – and even when it does, it can be hard for employees to draw a line between the two. It is for this reason Craig encourages employers to go the extra mile and discuss with their employees not only what their personal goals are, but how they can help them achieve them, so when they’re working towards their work goals they feel like they’re accomplishing something towards their personal goals too. “The owner of one of the organisations I worked for earlier in the year actually came back to me and said that having taken this approach, they can see that personal goal setting was much more powerful in shaping the employees’ attitudes and behaviours post training, than the team goals were,” says Craig. “If people have nothing to work towards, they feel stagnant,” he goes on to explain. “The reason why organisations like google spend money on their employees is to create a better workplace, which creates a more productive environment and a place where people actually want to go to work and help the organisation – because they’re excited by it.” Whether it’s offering extra in a staff member’s package to go towards the house they’re looking at buying, giving them time off to spend with their kids or work on their pet project, or simply rewarding them with vouchers they can put towards a hobby when they’ve done great work, by tying the incentive to their passion and showing them that you have listened, you make them feel valued, and they are likely to offer extra value to you in return. So, how do you implement this goaloriented system? Craig suggests having the discussion as part of regular performance reviews, writing them down and revising them every six or 12 months. “Coming up with actions or steps to take is critical because that builds momentum and that gives us something to measure success by,” advises Craig.

if you cAn tAP into ProvidinG somethinG for your stAff to Get them motivAted, it’s more liKely to benefit your business.” Even more effective is getting a third party like Craig to come in and do a group training session with both management and staff to get everyone in the team mindset. “Society has moved from skills-based training to value-oriented training,” says Craig of the Think Business Development programs. “we work on having three goals to work towards – one work-related, one finance-related and one personal goal – and linking them together. Because of the experience we have through Think Money in seeing how people’s lives change when they feel more in control of their money management we thought it was the perfect opportunity to marry those things together. “Money gives you the freedom to make choices and do more things, so we’ve implemented a three-tier program to help managers and staff manage their money, reduce debt and create wealth, then we align that with their other goals by including components of personal goal setting and team goal setting, so the employer is getting the benefit of both.

GoAl settinG tiPs WorK With someone else to determine your GoAls Most people know more about what they don’t want than want they do want, and as we grow, we tend to limit what we think is possible based on our past experiences. But often working with someone else helps overcome those blocks that you can’t see.

enGAGe techniQues such As visuAlisAtion to ‘see’ WhAt you WAnt There’s a difference between thinking what you want and seeing what you want, and humans are generally visual. when we think about something, we often get stuck on what’s going to stop us from moving forward, but when we visualise, it tends to overcome that issue and see what is possible.

CRAIG LEVITT

“We also figure it’s a great combination to offer – goals and money management together – as an employee benefit for working for an employer.” Proving you really do get back what you put in, Craig is helping make a difference to how people see their workplace, one business at a time. CRAIG@THINKBUSINESSDEVELOPMENT.COM.AU THINKBUSINESSDEVELOPMENT.COM.AU

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PROPERT Y

stAte of the nAtion rePort: WORDS TERRY RYDER, DIRECTOR, HOTSPOTTING.COM.AU

A SIGNIFICANT CHANGING OF THE GUARD IS TAKING PLACE IN MAJOR PROPERTY MARKETS AROUND AUSTRALIA. SYDNEY’S DAYS AT THE TOP ARE OVER AND MELBOURNE ALSO HAS PASSED ITS PEAK. MOMENTUM IS COMING FROM SOME OF THE SMALLER CITIES, INCLUDING CANBERRA, HOBART AND ADELAIDE, WHILE BRISBANE REMAINS SOLID. MEANWHILE, DARWIN AND, IN PARTICULAR, PERTH CONTINUE TO PRODUCE WEAK RESULTS ON PRICES, RENTS AND VACANCIES.

QueenslAnd BrisBane has had elevated sales activity for the past three years. It has delivered only moderate price growth overall, below the levels seen in Sydney and Melbourne, because Brisbane has not had the same level of impact from economic growth, population influx and infrastructure spending as the two biggest cities. some individual markets have recorded double-digit annual growth in median prices at times in the past three years, but there has not been the consistent 10%-plus growth across the city that sydney has experienced. There is now evidence that sales activity is tapering off and that the remaining momentum is being seen in the affordable suburbs in the outer-ring areas, including in the Moreton Bay Region in the far north, Logan City in the far south and Redland City in the east. Evidence of oversupply in the inner-city apartment markets continues to grow. and now we are seeing the over-building disease spread to the suburbs, especially on the Northside. some postcodes have 4-5% vacancies and one is sitting at 9%. The gold Coast continues to be a busy market, but investors must be cautious about the high-rise unit market, which has high levels of new supply under

62 | THINKBUSINESS

the sunshine coAst is chAllenGinG the Gold coAst As the no.1 GroWth mArKet in reGionAl QueenslAnd.

construction. The sunshine Coast is challenging the gold Coast as the No.1 growth market in regional Queensland, boosted by major spending on infrastructure and new development.

Those still keen to invest in sydney would be wise to focus on locations destined to benefit from new infrastructure under construction or planned across the city, which is extensive – and mostly concentrated in the western suburbs.

neW south WAles

Most of the regional markets close to Sydney, which caught the wave from the capital city, are also past their peak, including Wollongong and Gosford.

there is consideraBLe confusion about the state of play in Sydney because different research sources have published conflicting data on price growth. one widely-published research business has indicated strong price growth remains, but multiple other sources (including the aBs) record a sharp decline in the rate of price growth. Hotspotting’s assessment, based on sales data, is that Sydney is well past its peak. sales activity has dropped markedly in 2016 and most research sources have recorded much lower rates of price growth, including the Australian Bureau of Statistics, Domain and SQM Research. Auction clearance rates are artificially high (and have misled some commentators into believing that the market is still booming) because listings are very low – i.e. there are very few properties being offered for sale at auction. The number of buyers in the market is much lower than last year, but so too are the number of properties for sale.

Further afield, there remain buoyant regional markets, including Newcastle, Coffs Harbour, Tweed Shire, Bathurst, Ballina, Goulburn, Orange and wagga wagga.

south AustrAliA whiLe sydney and Melbourne sales activity has dropped markedly in 2016, adelaide sales volumes continue to rise. Adelaide is one of Australia’s most under-rated markets and seldom features when investors discuss good places to buy. But the city has a good track record on price growth and offers an attractive level of affordability and value for money. The city economy is underpinned by good levels of spending on infrastructure. The western suburbs between the CBD and the beaches stand out with an array of suburbs that offer good quality houses at value-for-money prices.

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victoriA MeLBoUrne, LiKe sydney, has passed its peak and the level of sales activity has dropped markedly in 2016. Also like Sydney, auction clearance rates appear strong and top-end sales are still being made at good prices because listings are low.

Western AustrAliA Perth MarKets rePresent both danger and opportunity for property investors at present. The city, which led the nation in price and rental growth in 2012 and early 2013, is three years into a cyclical downturn, exacerbated by the wind-down in the resources investment boom. Sales activity has been falling steadily since 2013 and the decline gathered pace since the start of 2016. Some Perth suburbs have sales volumes at a fraction of their former levels, indicating further price decline is likely. This has been further impacted by vacancies well above 3% in many areas, as workers have left the city in the wake of the resources downturn. The situation also represents opportunities for counter-cyclical investors to buy well while prices are down and competition is weak. Perth historically has been a population growth leader and one of the strongest capital cities for long-term capital growth. Perth property markets will recover and now is a good time to be looking for bargains. Investors, however, should continue to avoid the inner-city apartment markets which have high vacancies and an oversupply situation that is likely to get worse before it gets better. There is little to entice investors in regional wa at present. Mining-related centres such as Port Hedland, Karratha and Newman have had huge declines in value and continue to fall. Lifestyle markets south of Perth, such as Mandurah and Busselton, have held up better but there are few signs of growth at present.

The very strong price growth seen in middle-market suburbs in 2015 is no longer occurring and much of the momentum in Melbourne is being experienced in the outer-ring areas, driven by affordability. There are many warnings current about inner-city apartment markets around Australia, none more than for Melbourne. This market faces the biggest oversupply problem in the nation, even more than Perth and Brisbane. Regional cities and towns within reasonable commuting distance of Melbourne have gained popularity, following recent price rises in the capital city. The strongest market in Victoria at present is the City of Greater Geelong, which benefits from its affordability relative to Melbourne and its good transport links to the state capital. Towns in the Macedon Ranges lga (such as kyneton and gisborne) and also in Mitchell shire (such as wallan and kilmore) are experiencing increased demand from buyers seeking cheaper lifestyle options within striking distance of Melbourne.

northern territory darwin is not the weakest market among the capital cities, but it is close to it. Perth outscores it in terms of high vacancies and decline in rents and prices. But there’s no doubt Darwin is in the depths of the downturn. Like Perth, Darwin rose, thanks to the resources sector and had standout growth in rents and prices in 2011-2012 and the early part of 2013. It got particular impetus from the $30 billion Ichthys gas development, but once the considerable impacts of this massive enterprise had worked its way

through the economy and property markets, there wasn’t much following behind. sales levels across Darwin are now at their lowest in five years and, without major investment projects on the horizon, it’s difficult to see what will inspire recovery. Possibly the recent change of Territory government, after a landslide election result, may inspire something positive.

tAsmAniA MarKets in hoBart and Tasmania continue to make strong advances. while market activity has dropped markedly in 2016 in the larger cities, Hobart has continued to deliver steady increases in sales. Hobart leads the capital cities on a number of key parameters. It has the lowest vacancy rate, the lowest house prices and the highest rental returns, making it appealing for mainland property investors. This is underpinned by an improvement in economic indicators for Tasmania, which is no longer regarded as a basket case economy. Tasmania’s second city, Launceston, also has a buoyant market, despite being impacted by floods in June. The northern port centre of Devonport is another solid market with cheap prices.

Act canBerra’s stocKs have gradually risen in 2016, particularly for housing markets. while the apartment sector continues to struggle, the Canberra housing market has risen steadily. Most research sources report steady growth in the city’s median house price and growth in rentals also, but the numbers are less positive for the unit market, which has been previously weighed down by oversupply and has not yet fully recovered. Most of the growth suburbs are in the north of the city around Belconnen and Gungahlin, although there are some growth suburbs in the south around Tuggeranong.

THINKBUSINESS | 63


PROPERT Y

Portfolio Perfection WORDS CHRIS CHILDS

A GOOD PROPERTY PORTFOLIO SHOULD INCLUDE A MIX OF PROPERTY TYPES AND AREAS. NO MATTER WHERE YOU’RE STARTING OR WHAT YOUR SITUATION, AGE OR EXPERIENCE, BALANCE IS IMPORTANT IN HELPING YOU MAXIMISE YOUR PROFIT AND MINIMISE YOUR RISK.

1

WhAt does A bAlAnced Portfolio looK liKe?

For some investors, it could include owning properties in different geographic areas, which in South East Queensland alone could mean Brisbane, Toowoomba and the sunshine Coast. A balanced portfolio can also be a mix of new house and land, units or townhouses, existing houses, or off the plan units or townhouses. units and townhouses may meet inner city requirements where house and land could be uneconomical, whereas in some markets house and land may deliver the best return. The type of property is often less relevant than its appeal to tenants, its cash flow or its capital growth potential.

64 | THINKBUSINESS

2

cAPitAl GroWth vs. rentAl return

Capital growth properties grow in value over time. Properties that have achieved strong long-term growth are often located in inner-city areas and high population growth areas with strong infrastructure growth. Cash flow properties or positive-geared properties earn enough rental income to cover the mortgage. You’re making a loss in the short term, but rental income from the property will increase in future when the property turns positively geared. as an investor your ultimate goal should be a portfolio that pays for itself each month, whilst also growing in value.

3

buyinG neW vs. old

After years of experience and making enough mistakes myself, the most important thing i have learned is to buy new, not old. There are quite a few reasons for making this decision – one of the most important is the huge difference the tax benefits can make. The maintenance costs are close to non-existent as the builder is responsible for correcting any faults for six years. Newer properties are also generally well presented with an appealing design and high quality tenant-ready features.

www.thinkbusinessmagazine.com.au


JACK CHILDS

GAVIN SEQUIRA

4

comPArinG exPenses And returns

It’s always interesting to compare houses against units and townhouses. Houses seemingly have less cost compared to units or townhouses due to the latter properties having body corporate fees; however there is a maintenance component not factored into houses that is allowed for and covered in body corporate expenses. Council rates are also calculated differently for the different property types. All have their benefits and we generally find that over time, costs and returns are often equal.

5

doinG the riGht reseArch

Research is key in identifying the best property for your portfolio. Property types should match demographics and the area. for example, units or townhouses may not be required in smaller regional markets, whereas house and land on the other hand may have strong demand. The majority of investors don’t do enough research, or worse still, get incorrect information from the huge amount of data available online. it is vital to know what is happening with infrastructure spending, demographics, employment, economic growth, and supply and demand, to name just a few. for further detAils: PHONE (07) 5451 1080 JACK@THINKINVESTMENTREALTY.COM.AU WWW.THINKINVESTMENTREALTY.COM.AU

THINKBUSINESS | 65


develoPinG forward thinking

doWnloAd the lAyAr APP And scAn this PAGe to tAKe A looK Around foreshore

WORDS ALEX RIGBY

WITH 10 PRESTIGIOUS PROPERTY DEVELOPMENT PROJECTS UNDER THEIR BELT, ALTUM’S NEXT RESIDENTIAL PROJECT IN MAROOCHYDORE IS SET TO BREAK NEW GROUND IN RIVERFRONT LIVING.

A mArKet leAder in desiGn And QuAlity living up their name (altum translates to ‘sustainable’ from Latin), Altum has certainly raised the bar on sustainable property development in Queensland, and it’s easy to see why their properties are so highly sought after. altum Property group has won dozens of awards for excellence in construction, including two-times winner for best home in Queensland; Queensland winner for excellence in sustainable building

However, Altum’s latest project, Foreshore Maroochydore, stands to be their finest yet with its north-facing location on Maroochy River.

“We always concentrate on the quality of construction; sustainability is not just about energy use but about the lifespan of the building.”

Due to begin construction in february 2017, Foreshore will introduce a vision of timeless sophistication and a new benchmark in connected riverfront living.

“as a result we achieve low body corporate rates because we keep the overall cost of maintaining the building down. we might spend a bit more money achieving that, but in the long term people really appreciate it and it leads to repeat investment purchases.”

Foreshore consists of 28 riverfront apartments. all two and three bedroom apartments bask in open plan living, maximum light, privacy, and a forward thinking resort-inspired design for boutique riverfront living.

We AlWAys concentrAte on the QuAlity of construction; sustAinAbility is not Just About enerGy use but About the lifesPAn of the buildinG.” and numerous other awards, including several for True North – a sustainable 15-unit project in Maroochydore. Their strategy is simple and it’s successful: to achieve affordable longterm sustainable building solutions that address climate change issues and reduce future energy costs. They do this by building resilient, efficient properties using carefully selected materials to ensure low cost maintenance. Projects such as True North apartments in Maroochydore, Sunset Boulevard in little Mountain and Plantation Park in woombye have gained altum an enviable reputation in sustainable development and quality residential projects.

Rob McCready, a licensed builder with over 21 years experience in design, construction management and sustainable building, and Alex Rigby, who has a Bachelor of Applied Science in Property Economics and 20 years in property development, are the directors at altum Constructions and together forge a highly successful team.

That repeat business is a true testimony to the quality of Altum’s projects, with astute investors choosing to purchase multiple altum properties. Enhancing the investor experience further, Altum’s customer care philosophy is that the development relationship is for life. “we stay on board long-term with the development. we hold onto a couple of units ourselves, and we manage the finished development and the body corporate, so if there are ever any issues, we can handle them straight away.” This attention to detail and high quality customer care is what really appeals to investors and owner-occupiers alike.

“We’ve really thought through the design, with high ceilings, stacks of storage, plenty of parking and energy efficient fittings. Every little detail is considered and planned with sustainability and longevity in mind.”

off-the-PlAn sAles hAve commenced. for more informAtion on sAles, PleAse cAll 1300 319 888 or visit the Website WWW.foreshoremAroochydore.com.Au 66 | THINKBUSINESS

ALEX RIGBY

ROB MCCREADY www.thinkbusinessmagazine.com.au


INVEST OR LIVE 2 & 3 BEDROOM RIVERFRONT APARTMENTS ARTIST IMPRESSION ONLY

ARTIST IMPRESSION ONLY

PHONE 07 5451 1080 WWW.FORESHOREMAROOCHYDORE.COM.AU


INVEST OR LIVE

NOW SELLING WWW.FORESHOREMAROOCHYDORE.COM.AU


Blending the indoor and outdoor with style and ease • Perfect northerly aspect • Expansive balconies blur the line between indoor and outdoor living • Generous storage unit to each apartment’s car park • Convenient study nook or recess to most apartments • Landscaped BBQ area • Elevated pool area that’s both secure and private • Secure parking, access and intercom • Spacious, private courtyards to ground floor apartments • Entertainment areas built for al fresco dining • Native landscaped outdoor spaces • Low body corporate ARTIST IMPRESSION ONLY ARTIST IMPRESSION ONLY

2 & 3 BEDROOM APARTMENTS ON MAROOCHY RIVER For more information call Jack, Dan or Troy on 07 5451 1080.


A vision of light Introducing a vision of timeless Sunshine Coast sophistication and a whole new benchmark in connected riverfront living. Foreshore is an exclusive enclave that consists of two and three-bedroom boutique apartments perched on the pristine Maroochy River – where open space architecture brings azure water and golden light together seamlessly in the Sunshine Coast’s most desirable location. The north facing aspect catches the Coral Sea breeze as well as the uninterrupted, never to be built-out, panoramic view across the river with picture-perfect Mount Ninderry as the backdrop.

Take a look around Foreshore 1. D  ownload the LAYAR app from the App Store or Google Play on any iPhone, android or tablet.

2. Open  the LAYAR app and scan this page to watch the Foreshore video.

www.foreshoremaroochydore.com.au


SUNSHINE PLAZA SHOPPING CENTRE 8 MIN

NOOSA 30 MIN

COTTON TREE BOUTIQUES & CAFES 8 MIN

TWIN WATERS 7 MIN

OCEAN STREET DINING & ENTERTAINMENT 7 MIN

THE SPIT MOOLOOLABA SEAFOOD EATERIES & DOG-FRIENDLY BEACH 11 MIN ALEXANDRA HEADLAND BEACH 9 MIN

BRISBANE 1 HR 23 MIN SUNSHINE COAST UNIVERSITY HOSPITAL 16 MIN

‘SUNCENTRAL’ CBD 10 MIN

AIRPORT 7 MIN

UNIVERSITY 15 MIN

FOREFRONT

This is one geographically blessed location … Mooloolaba 

Central and desirable …

Noosa 

11 min 30 min 1h 23 min

Foreshore is spectacularly

directly connected to the style

Brisbane 

moored on the sands of the

and vibrancy of Maroochydore

Sunshine Coast Airport 

7 min

iconic Maroochy River, linking the

City Centre.

Sunshine Plaza 

8 min

Ocean Street precinct 

7 min

pristine hinterland to the see-

9 min

At Foreshore you’re as

Alexandra Headland 

connected as you want to be.

University Sunshine Coast 

15 min

A home right at the heart of

This is Maroochy style at its best

University Hospital 

16 min

a vibrant waterfront precinct,

– a signature blend of coastal

Bruce Highway 

15 min

just minutes from boat ramps

chic, urban convenience, and

National bus network 

In front

and world famous beaches, and

relaxed riverfront resort living.

National rail network 

20 min

through waters of the Pacific.

For your free information pack CALL 07 5451 1080 www.thinkinvestmentrealty.com.au


FORWARD DESIGN

This property is suitable for self-managed super funds.

Sophisticated coastal architecture Award-winning coastal architects Blackburne Jackson have created a living space that honours the world-class location – where design and construction combine to create the ultimate in space, light and convenience. All two and three bedroom apartments bask in open plan living, maximum light, privacy, and a forward-thinking resort-inspired design that sets the touchstone for boutique riverfront living.

A word from the architect “Foreshore’s elegant and contemporary architecture capitalises on the favourable northern aspect and commanding river views. Its light filled interiors have been planned to provide flexible spaces that flow from interior to exterior, enhancing the best of coastal living.” Rohan Jackson – Architect

Gold Standard interiors The focus is firmly on executing the living space with painstaking attention to detail and meticulous workmanship. Interiors are designed with a contemporary neutral palette of white and pale greys, together with timber and stone finishes to compliment any personal style and interior furnishings.

FOR LIVING A city coming of age Foreshore sits in the most desirable location of a region that leads the country in modern urban planning – in finding the ultimate work/life balance. The masterplanned new town centre was conceived around the existing lifestyle that has made Maroochydore famous, and is based on the central values of the local culture.

For your free information pack CALL 07 5451 1080 www.thinkinvestmentrealty.com.au


i will grow your sAles & Profits for only $1

you could Attend A 2-dAy business mbA on the sunshine coAst normAlly vAlued At $1500.”

BUSINESS COACHING EXCELLENCE: SIIMON REYNOLDS AND BRIAN SHER ARE THE FOUNDERS OF THE FORTUNE INSTITUTE. THEY ARE BOTH BEST-SELLING AUTHORS AND HAVE CREATED A MULTITUDE OF MULTIMILLION-DOLLAR BUSINESSES OVER THE LAST 25 YEARS. BRIAN AND SIIMON HAVE DISTILLED ALL THEIR COMBINED BUSINESS KNOWLEDGE INTO A REAL WORLD AND TACTICAL BUSINESS COACHING PROGRAM FOR SERIOUS ENTREPRENEURS WHO ARE DRIVEN TO TAKE THEIR BUSINESSES TO THE NEXT LEVEL. They have created a program called High Achiever specifically to assist an elite group of highly ambitious business owners and entrepreneurs who want to achieve exponential results fast.

our live coAchinG ProGrAm includes: • One on one coaching – weekly and monthly • One on one mentorship sessions with Brian sher and siimon Reynolds • Group Retreats • Quarterly Boardroom planning sessions • Access to our Experts No one else in the business coaching market offers this level of support or guidance. You will immediately surround yourself with a Team of Fortune Institute Experts, Mentors, and Coaches, to help you grow your business fast.

we will work with you one on one to design a 12-month strategic growth plan based on your overall three-year goals. We then focus on a solid 90-day practical action plan, which we help you implement, as well as hold you accountable each week. Most business courses are either taught by university professors with little commercial business experience or independent business coaches who have had little practical experience or success running multimillion-dollar businesses. The fortune institute is absolutely different and provides businesses with the most cutting edge and contemporary business coaching, business strategies and advice available. If you want to make millions in business, get mentored by people who have actually made millions in business at The fortune institute.

hiGhAchiever.com.Au/thinK-business

Siimon Reynolds

yes, i WAnt to GroW my business yes, i need to Get more customers Are you A business oWner With A turn - over of more thAn $300,000 A yeAr?

If yes and you would like the opportunity to be part of the High Achiever Program for just $1 then you need to find out more at: hiGhAchiever.com.Au/thinK-business

Thanks to Think Business Magazine, if you qualify, you also get the opportunity to attend the fortune Institute’s special 2-Day Business MBa planning workshopright here on the sunshine Coast. find out more at: thinKmAGAZine.com.Au/2dAymbA

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THINKBUSINESS | 67


PROPERT Y

sunshine coast economy bucKs the trend WORDS FIONA SIMPSON

SUNSHINE COAST STATE MEMBER FOR MAROOCHYDORE FIONA SIMPSON SHARES SOME OF THE REASONS BEHIND WHY THERE ARE SO MANY ENTREPRENEURS ON THE SUNSHINE COAST.

oUr 4.8 Per cent unemployment rate is now below national average with 17000 jobs created in the sunshine Coast region in the year to august 2016. Unfortunately the current economic outlook for Queensland is not so bright with recent ABS figures showing 32,000 jobs disappearing across the state since the beginning of the year. with unemployment continuing to grow and business confidence spiralling downwards, Queensland is now battling Tasmania for last place on economic growth. Since the state budget, a wide range of independent reports indicate a decline in economic activity, investment and business confidence with lack of incentives and support and excessive bureaucracy seen as major concerns for the Queensland business community. Confidence in the property industry has fallen to its lowest level in three years, which the ANZ Property Council survey attributes directly to Labor’s foreign investors tax.

All three tiers of Government Are WorKinG With business leAders to ensure the sunshine coAst economy Will continue to be A GreAt PlAce to live, WorK And rAise A fAmily.” 68 | THINKBUSINESS

www.thinkbusinessmagazine.com.au


FIONA SIMPSON MP

so why is the sunshine Coast bucking this trend and seeing a growth in employment? Some of our new jobs could be attributed to our tourism boom – thanks to a 14.9 per cent increase in domestic visitors in the 12 months to June 2016 and our growing reputation for major events like the aussies and ironman. And there’s more good news for local jobs on the horizon with the start of the $400 million expansion of Sunshine Plaza expected to generate more than 2900 jobs during construction and 2300 extra retail positions when it opens by Christmas 2018. We are already seeing the flow on effects of the $1.8 billion investment into the sunshine Coast university Hospital which will provide 2500 new jobs when it opens next year. work is commencing soon on a $1.13 billion upgrade of the Caloundra to Sunshine Motorway section of the Bruce Highway and we are hoping to see the approval of a $181 million Federal Government loan to build the new runway at the sunshine Coast airport. This will more than double the airport’s capacity and give us access to new domestic and international destinations – which will provide a $4.1 billion boost for our local economy and an extra 2000 local jobs. With an expected 370,000 extra people moving to the region by 2036 we’re about to see huge growth in construction with property development and associated infrastructure at Palmview and Caloundra south. in addition, the new Maroochydore sun Central CBD project is expected to generate 30,000 jobs by 2040. However we need the infrastructure to keep pace and that’s what we’re fighting to achieve. All three tiers of government are working with business leaders to ensure the sunshine Coast economy will continue to be a great place to live, work and raise a family. Recently we participated in a combined government and business forum hosted by Sunshine Coast

With An exPected 370,000 extrA PeoPle movinG to the reGion by 2036 We’re About to see huGe GroWth in construction.” Business Council and University of the sunshine Coast to listen to experts presenting their views on challenges facing the region. The top three priorities we are working on for the Sunshine Coast is getting the final tick of approval for the Sunshine Coast Airport expansion, bringing forward the six-laning of the Bruce Highway between Palmview and

Caloundra and the duplication of the North Coast Rail line. unlocking the bottleneck on the Bruce Highway is critical to our continued growth, as is the rail duplication which will take more vehicles off the road by providing a better service for Sunshine Coast commuters and facilitating more movement of freight by rail. getting this key transport link to Brisbane working right is the first step in creating an integrated regional transport strategy to meet the needs of our growing population. fionA simPson mP STATE MEMBER FOR MAROOCHYDORE WWW.FIONASIMPSON.COM.AU

THINKBUSINESS | 69


BUSINESS

scAn this PAGe to WAtch tony robbin’s ted tAlK directly on your Phone

talks: motivation

LOOKING FOR SOME OF THE BEST TIPS ON HOW TO RAMP UP YOUR MOTIVATION? SCAN THESE PAGES TO HEAR THE STRATEGIES USED BY SOME OF THE BEST IN THEIR FIELD.

TONY ROBBINS: WHY WE DO WHAT WE DO Best-selling author and arguably the world’s best-known motivational speaker, there are very few people who haven’t heard of Tony Robbins, which is largely due to his no holds barred approach to telling it like it is. Tony dives head first in the psychology behind what drives our actions, what shapes our mindsets and what makes our lives fulfilling.

70 | THINKBUSINESS

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DAN PINK: THE PUZZLE OF MOTIVATION since venturing out on his own almost two decades ago, Pink has forged his way to the top of the business world in more ways than one, proving himself amongst the industry elite after being named one of the 10 top business thinkers in the world and three-time New York Times bestseller. Pink invites us to explore the science behind the incentives and behaviours where motivation flourishes.

SHAWN ACHOR: THE HAPPY SECRET TO BETTER WORK CEO of Good Think Inc. and winner of over a dozen distinguished teaching awards, Shawn Achor shines a refreshingly different perspective on how we look at motivation in the workplace. Drawing from over 12 years of experience at Harvard he humorously argues that happiness, not incentives, inspire productivity.

DAN ARIELY: WHAT MAKES US FEEL GOOD ABOUT OUR WORK? Professor of psychology, behavioural economist, founding member of the Center for Advanced Hindsight and bestselling author Dan ariely has a passion for researching what influences human behaviour. In this Ted talk, Ariely reveals two eye-opening experiments that show surprising results on our attitudes towards creating meaning in our careers.

scAn this PAGe to WAtch eAch sPeAKer’s ted tAlK on youtube

THINKBUSINESS | 71


BUSINESS

scAn this PAGe for AmAndA’s tiPs on mAximisinG your mArKetinG dollAr And creAtinG A World clAss customer exPerience

c’s of chAnGe hoW curiosity, commonAlity, connection, celebrAtion And collAborAtion could chAnGe the fAce of your business. WO R DS A M A N DA S T E V EN S

IMAGINE IF THE SECRET TO GROWING YOUR BUSINESS QUICKLY AND COST-EFFECTIVELY WAS RIGHT UNDER YOUR NOSE? IN THIS SPECIAL FEATURE, AWARD-WINNING MARKETER AND BEST-SELLING AUTHOR AMANDA STEVENS REVEALS FIVE STRATEGIES FOR MAXIMISING YOUR EXISTING CUSTOMER BASE AND HOW TO TURN YOUR CUSTOMERS INTO ADVOCATES – RAVING FANS WHO WILL DELIVER YOU A STEADY STREAM OF NEW BUSINESS.

“descriBe yoUr weddinG to Me in 10 words,” he said, Pen Poised eXcitedLy

George was the third designer I’d met with and it was his ability to ask questions that were surprising, different and unique that convinced me that he approached each assignment not just as ‘another dress’ but a creation based on the individual personality, dreams and vision of each client.

This was the first question couture wedding dress designer george wu asked me at our very first meeting in June 2015 and the moment i decided that george would design my dress.

The previous two designers had a stock-standard questionnaire that they went through with me robotically, with the first 10 questions dedicated to the boring, functional stuff like the

curiosity

72 | THINKBUSINESS

date, time and location of the wedding, number in the bridal party, style of dress I had in mind, blah blah blah. I didn’t realise it until later that day, but the questions George asked me not only differentiated him from the outset, it put me into storytelling mode and gave george valuable insights into my vision, not only for the dress, but for the wedding as a whole. It positioned george not just as a dress designer, but a collaborative partner who was genuinely interested in the broader outcome.

www.thinkbusinessmagazine.com.au


it also gave him important information that he could then use to build commonality, through examples and stories of how he’d worked with other clients and his initial ideas in response to my brief. on that day and throughout the resulting process (13 dress fittings in total) george continually asked questions – not only to check in and ensure i was happy with the progress – but to evolve the process of collaboration. He considered every conceivable detail in designing the dress and it resulted in a designer-client relationship that was built on complete trust, communication, fun and friendship. Often in business it’s the questions we ask that are more powerful than the answers that we give. at the heart of what we all do – whether it be a fashion designer or funeral director, a real estate agent or a retailer – we’re all in the problem solving business; we want to find the perfect solution for our customers. The challenge is that sometimes, in our enthusiasm and commitment to finding a solution that perfectly suits the needs of our customer, we miss out on the opportunity to ask more questions; demonstrate curiosity and build greater connections, magic moments and, ultimately, customer advocacy. Brands, as with humans, are only ever in one of two states: interested or interesting. are your brand messages and customer service efforts merely trying to be interesting or are they demonstrating genuine interest in your customers?

commonAlity when two or More PeoPLe are LooKinG UP at the sKy, do yoU do the saMe? iF no one is BUyinG a certain FLavoUr oF ice creaM, do yoU stay cLear oF it too? The force that influences you every day when it comes to decision making, from the biggest decisions like where you want to live, down to the smaller every day choices like what to have for lunch, is called social proof. Social proof, also known as informational social influence, is a psychological phenomenon where people assume the actions of others in an attempt to reflect correct behaviour for a given situation. This effect is prominent in ambiguous social situations where people are unable to determine the appropriate mode of behaviour, and is driven by the assumption that surrounding people possess more knowledge about the situation. Basically, we’re wired to conform and reflect the behaviour of those we feel we have an affinity with and therefore demonstrate herd mentality to a certain degree at certain times. in a sales and marketing sense, we’re influenced by the thoughts and actions of people we have something in common with. In a fascinating environmental study published in The washington Post, researchers examined the effectiveness of signs on persuading customers to use less energy in the summer by turning on fans instead of air conditioning.

the researchers tested FoUr siGns: Informed the customer that they could be saving $54/month on their utility bill. siGn 1

Told customers that they could prevent the release of 262 pounds of greenhouse gasses every month. siGn 2

Encouraged customers that saving energy was a socially responsible thing to do. siGn 3

let customers know that 77 per cent of their neighbours were already actively using fans to save energy. siGn 4

which sign do you think was the most effective at getting people to use less energy? Surprise, it was sign #4 – the one that invoked the positive social proof. That means that in this instance, the positive social proof was more persuasive than saving money (sign #1), protecting the environment (sign #2), and making responsible choices (sign #3), all of which are positive behaviours, but none of which could stand up to the power of group influence. sociaL ProoF worKs Better with PictUres and even Better with video Testimonials are one of the most persuasive forms of social proof in marketing terms, again when you can demonstrate testimonials that leverage commonality. Studies have found that when it comes to valuing the opinions of others, our brains place more weight on people we deem to be most like us. Develop customer testimonials – written or in video. Ensure to find a customer that truly represents (in the best way) what your ideal customer looks like. Emphasise how your company solved their pains and headaches, and then other customers will be able to relate to them. That’s the power of commonality.

THINKBUSINESS | 73


BUSINESS

connection how sticKy is yoUr Brand? I don’t mean in the literal sense, but how engaging are the different touch points your customer has with your business? Everything you do in business is what I call an ‘MMM’ – Mini Marketing Message. It’s how your phone is answered, it’s how your invoices are worded, it’s your business card, it’s your in-store signage, it’s everything your customers see, feel and experience. Your Mini Marketing Messages present an opportunity to build customer loyalty and advocacy by surprising and delighting.

Called your own business lately? Step into the shoes of a customer, smile and dial. Does the response and conversation inspire you or brighten your day? If not, it’s time to change the script and train your front-line people to understand that they are the director of first impressions. Every touch point across your business is an opportunity to humanise the customer experience and create a talking point. Here are some other ways to humanise your brand, offer opportunities for your customers to connect with your business and increase your ‘stickiness’. Your invoices, your receipts, the text confirmations you send clients – they are all Mini Marketing Messages. are they functional and unremarkable or fun and memorable?

here are soMe other ideas For connectinG with yoUr cUstoMers and increasinG enGaGeMent, MeMoraBiLity and advocacy Include a fun, unexpected fact in your email signature relevant to your business – how you have your coffee, how many countries you’ve travelled to, who your business hero is, which sport you’re most passionate about, which sporting team you barrack for, how many siblings you have, the best advice you were ever given, or which charity you support. install a herb garden in your store or office and invite customers to take some home with them when they visit. give your customers a choice of three charities you’re supporting and allow them to choose which charity their purchase will generate a contribution to. Paint a wall in chalk paint and invite your customers to share an inspirational quote, answer a question of the week, or play noughts and crosses with a staff member.

celebrAtion i recentLy enGaGed a new FinanciaL PLanner to set UP a seLF-ManaGed sUPer FUnd The day after our first meeting, I received a beautifully wrapped package with a silver photo frame and a ‘welcome’ card. Although she did a perfect job setting up my super fund, it was the surprise gift and the fact that I was ‘welcomed’ to the brand that made me a vocal advocate. As humans we’re wired for recognition, and adopting a milestone marketing

74 | THINKBUSINESS

approach provides the opportunity to surprise, delight and create customer advocates.

business, referral opportunities are sitting, dormant, in your customer base right now.

In any business, there are key milestones with your customers. There are external milestones that relate to their life events – birthdays, weddings, divorces, starting a business for example. and then there are internal milestones – anniversaries, spend levels and number of visits.

There are loyal customers who buy your product or service, love your brand and are loyal to your business but aren’t your vocal advocates. Why? Because they don’t have a specific, top-of-mind reason to talk about you at a dinner party.

Celebrating these milestones gives you a unique opportunity to cement the relationship you have with your customers and develop what i call ‘dormant referral opportunities’. Regardless of your industry, your business type and the size of your

If you analysed your customer base, segmented the top 10 or 20 per cent of your customers and sent them a thank you gift, it could possibly generate more word-of-mouth business than you’ve had in years. It would make your brand top-of-mind and give your customers a reason to talk about you.

www.thinkbusinessmagazine.com.au


A culture of collAborAtion should stArt from the inside out”

Be yoUr cUstoMer’s nUMBer one advocate what many business owners and salespeople don’t understand is that they have a multitude of opportunities to create advocacy; they just often don’t take advantage of them. They overlook the most obvious opportunities to celebrate their clients’ wins and achievements and be their chief cheerleader.

i love my mortgage broker Pete. Not just because he gets me great interest rates – which he does. and not because he miraculously managed to overnight some mortgage documents to me while i was holidaying on a remote island in Fiji a few years ago (the original documents had gone missing) – which he did. When I talk to friends and family about Pete, the story I recall is the hand-written card he sent me in 2013 after seeing a news article that i had been chosen as the supporting speaker for former US Secretary of State, Condoleezza Rice, at the global leadership summit. The card included a copy of the article and was signed ‘You go girl!, Pete J’. If you want your customers to be your advocates, start with being an advocate for them.

collAborAtion when you hear the term ‘collaboration’ you might imagine getting together with other business owners and entrepreneurs to brainstorm ideas. But have you ever considered collaborating with your employees and your customers? a cULtUre oF coLLaBoration starts FroM the inside oUt. are yoUr staFF cUstoMers oF yoUr BUsiness? A culture of collaboration should start from the inside out. Wherever possible, your staff should be your greatest brand advocates. when they can see the business through the eyes of a customer, they will not only be more empathetic and considered in how they deal with other customers, they will be inspired to deliver exceptional service. Aside from making your team members brand ambassadors, they can also be your innovation partners. In fact, involving your staff and charging them with conceiving new ways to up the ante on your customer service levels can be a brilliant ongoing team building exercise, particularly if it has some friendly rivalry and incentives tied in. Just remember, everyone is different and will be motivated differently. coLLaBorate with yoUr cUstoMers Ever wondered what your customers really think? Ask them! appointing a customer advisory board is one of the most simple, cost effective ways to collaborate with

your customers and see your business from their perspective. You will get a refreshing and powerful insight into your marketing, your business processes and your customer service – through the eyes of your customers. They will not only give you honest answers and fresh ideas, they will value and appreciate that you asked their opinion in the first place.

estaBLishinG an advisory Board is a Matter oF Five siMPLe stePs: a panel of 10-12 1. Recruit customers or clients that are

representative of your target audience (hint: diversity is key as it will give you a range of different opinions). an objective facilitator 2. Source who can lead and moderate the meetings (you will get much more honest insights).

clear long-term objectives 3. Have for the program, as well as a set agenda for each meeting.

back results and outcomes 4. feed to the group throughout the advisory group program. The group will be more motivated to develop new ideas and strategies if they can see that their thoughts and opinions are having an impact.

participants. Ensure they 5. Reward feel validated and valued. They

will leave the program feeling like their opinions matter – a potent ingredient when it comes to creating raving fans.

Make your customers advisors and they will become advocates. what are yoU waitinG For? Adopt these five strategies and maximise your existing customer base and turn your customers into advocates – experience the C’s of change.

for more info visit: AMANDASTEVENS.COM.AU

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What is your brand famous for: QuAlity, service or Price? WORDS ROWDY MCLEAN, AUTHOR, SPEAKER AND BUSINESS CONSULTANT

IN THIS DIGITAL WORLD, YOUR CUSTOMERS HAVE MORE PLATFORMS THAN EVER BEFORE TO SHARE THEIR THOUGHTS ABOUT WHAT THEY THINK OF YOUR BUSINESS. WHETHER YOU LIKE IT OR NOT, THEY ARE ON 35 PLUS PLATFORMS RAVING ABOUT THE GOOD, THE BAD AND THE UGLY OF BUSINESSES ACROSS THE GLOBE. SO, IF YOU DON’T KNOW WHAT YOU WANT TO BE FAMOUS FOR, YOUR CUSTOMERS GET TO CHOOSE, AND THAT IS DOWNRIGHT DANGEROUS!

Get AheAd of the GAme iF i asK you to think of each of the following companies, I am sure you could tell me what they are famous for. McDonalds, Virgin Airlines, Coca Cola, FedEx, Nike, Mercedes. They own their place in the market because they know their market intimately.

ridinG the tricycle Most businesses are famous for one of three things – Quality, Service or Price. It’s almost impossible to be famous for all three. So you need to choose one and be absolutely clear on why you want to be famous for that particular thing. Just because you choose one, doesn’t mean you shouldn’t pay attention to the others. It’s a bit like riding a tricycle. What you are famous for becomes the lead wheel. It gives you direction and purpose, but you need the other two wheels to provide balance. It’s not much fun trying to ride a tricycle with only one or two wheels; you end up going around in circles or going nowhere!

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there are two Main reasons yoU need to Be cLear on what yoUr Brand is FaMoUs For:

1. Your customers will know what to expect from you.

This means they are in your game from the get go. They know why you exist, why they have chosen you and can measure your business against something. You have control of how you are perceived, not them.

2.

Customers know how to position you and sell you to other customers. The best form of marketing on the planet is word-of-mouth marketing. We trust a friend’s or colleague’s recommendations much more than any advertising. So if you know what you want to be famous for and are delivering on it, your customers will market your business for you exactly the way you want them to.

When you know exactly what you are famous for and deliver it without fail, your customers will market you; your employees will be more engaged and committed (because they know what game the brand is playing) and you have something to differentiate your business. Something to measure its performance against. That’s what makes a winner, and winners become famous. www.thinkbusinessmagazine.com.au


fAmous for Price If you’re famous for Price, people expect lower quality and will accept poorer service but not to the point that either of those no longer exists. Ultimately they want value for money. When your customers are saying; “they are the best value” or “they do such a good job for the price” it’s not that quality and service don’t matter, they do. However, the price is the driver.

fAmous for service

fAmous for QuAlity Imagine you want to be famous for Quality, That’s your lead wheel. Obviously if quality is your chosen strategy, it’s going to cost you more to do business, so you can’t be cheap with price. But you do need a pricing strategy that matches the quality you provide. Too cheap and the perception of quality disappears. Too expensive and the quality is not valued. You will also need to provide a good level of service. There is an expectation that quality products or services come with good customer service. ultimately price and service are the back wheels of your tricycle, keeping it in balance, but quality is the lead wheel. It’s what you stand for. It’s what your customers rave about. when your customers talk about you they are saying; “you make the best xxxxx or “you provide the best yyyyyyy”. That’s what makes you famous!

And finally, if you want to be famous for Service. Lots of companies want to be, but very few manage to deliver, and that’s why it’s my favourite business strategy, and the one I spend the most time implementing in the companies I work with. If you can get it right, you can really own the market. So the idea is that you take better care of your customers than anyone else. Again quality and price matter but customers will pay more for less if you provide a level of service that blows them away. when they talk about you and say; “you are amazing” or tell people that “you are the best to deal with” - winning!

ROWDY MCLEAN for more info on roWdy mcleAn, visit: WWW.ROWDYMCLEAN.COM

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million dollar beAuty Queen WORDS KIRRILEE MURRAY

IT IS IMPOSSIBLE NOT TO BE INSPIRED BY THE HARD EARNED SUCCESS THAT ONLINE BEAUTY STORE CREATOR IRENE FALCONE HAS BUILT FOR HERSELF WITH NOURISHED LIFE. SITTING AT HER KITCHEN TABLE WITH $100 AND A BEAUTY BLOG AS A STARTING POINT, IN JUST THREE YEARS IRENE HAS GROWN HER NEWFOUND PASSION INTO A MULTI-MILLION DOLLAR BUSINESS. THINK BUSINESS MAGAZINE SPEAKS WITH IRENE ABOUT HER JOURNEY FROM ENTREPRENEUR TO BEAUTY INDUSTRY GURU.

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www.thinkbusinessmagazine.com.au


think: how have yoUr career GoaLs chanGed since yoU BecaMe yoUr own Boss? When I was working in corporate, my career goals were very much focused around securing my next promotion, applying for a mortgage, and planning for retirement. Since becoming my own boss, my focus has had a seismic shift. I’m now so focused on creating a safe and inspiring workplace for the people who work for me. I place a large focus on keeping staff motivated and well trained, as this is the best way to keep our customers happy. think: what is one worK strateGy that yoU have FoLLowed since day one? Always listen to your intuition and follow your gut. think: what is the Best Piece oF advice that yoU can oFFer UPcoMinG entrePreneUrs? As clichéd as it sounds, don’t be afraid to take risks. Ultimately, this is what gives you the best return. think: do yoU thinK technoLoGy MaKes it easier For BUsinesses to trade onLine, or does it JUst increase coMPetition? Technology definitely makes it easier for businesses. Technology is a performance-optimising tool, but like any tool, it’s only as good as the person who is using it. think: what have yoU Learned aBoUt yoUrseLF since startinG noUrished LiFe? I found a whole new strength and belief in myself that I never thought i had. think: what have yoU Learned aBoUt yoUrseLF as a Leader throUGhoUt the years? As a leader, I’ve learned the importance of leading by example. I’ve also learned to remain calm, even if it seems like everything is going wrong.

think: what have yoU Learned aBoUt ManaGeMent in terMs oF GrowinG a BUsiness FroM a soLo oPeration to hUndreds oF eMPLoyees? Despite enormous growth and an influx of staff, I’ve worked really hard on running this business like a tight-knit group. It’s important to me that everyone who works here feels involved and appreciated. think: what do yoU FeeL was the deFininG Factor that transForMed yoUr BUsiness FroM a start-UP into a FULLyFLedGed coMPany? In all honesty, having come from working in corporate I was firmly in the multimillion dollar business mindset when I began Nourished Life. Even though I was sitting at my kitchen table, I never felt like I was a start-up. I feel more comfortable running a fully-fledged company because it’s just the way I’ve been working for years.

just been myself from day one. Ironically enough, I was quite unhealthy when I started the business. I was very fatigued and suffering from chemical overload. As I’ve been using my own products and the help of our in-house naturopath, I’ve been feeling so much better. I think my customers have followed my health journey as much as the growth of Nourished Life. think: iF yoU had the BeneFit oF today’s hindsiGht BUt were startinG aGain FroM scratch, what woULd yoU do diFFerentLy? i would probably hold back a little bit before jumping in head first! If I were to start again, I would at least sketch out a skeleton of a business plan.

AlWAys listen to your intuition And folloW your Gut.”

think: how do yoU stay connected with yoUr cUstoMers throUGh tradinG onLine? These days it’s far more social to be online than not to be! we have a lovely retail store where we can meet our customers face to face, but predominantly we use our social media and blog to communicate with our customers en masse, all day. think: what is the BiGGest chaLLenGe in BUsiness yoU have Faced so Far? Managing high growth and huge volumes of new customers without compromising our core offerings, which are the best customer service and the best sustainable, eco-friendly products. think: what do yoU BeLieve were the Key strateGies Used to heLP shaPe yoUr Brand identity? There was never really a key strategy for developing a brand identity. Excuse the pun, but I’ve always let it be organic. I’ve

IRENE FALCONE

DO YOU HAVE AN INSPIRING START-UP STORY OF YOUR OWN TO SHARE? THINK BUSINESS MAGAZINE WOULD LOVE TO HEAR FROM YOU. thinKbusinessmAGAZine.com.Au

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scAn this PAGe to vieW A recent chAmber event focused on the economic future of the sunshine coAst

A future for the next GenerAtion WORDS KIRRILEE MURRAY PHOTO REECE WOODLAND

WITH HUGE CHANGES UNDERWAY THAT ARE REDEFINING THE LANDSCAPE OF THE SUNSHINE COAST’S CBD, WE CHECK IN WITH PRESIDENT OF MAROOCHYDORE CHAMBER OF COMMERCE, TROY DEIGHTON, TO GET THE LATEST FORECAST ON WHAT BUSINESSES CAN EXPECT.

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www.thinkbusinessmagazine.com.au


my GoAl is hAvinG A future for our Kids to GroW uP in; i thinK thAt’s reAlly imPortAnt in movinG the coAst forWArd.” Undoubtedly, the alluring natural attractions of the Sunshine Coast have been the biggest drawcard for both tourists and sea-changers. “It’s our enviable lifestyle that keeps people coming back and, from a sustainability point of view, a part of our identity that we never want to lose. It has been the launch pad of our economy and continues to be our benchmark,” Troy Deighton says. However, with more and more national companies setting up branches, and in many cases their headquarters here, beautiful beaches and serene waterfalls are not enough to create long-term business growth. A year into his role as president, Troy is as passionate as ever about ensuring a viable future for both small business and large corporations on the Coast, merging his vision with a commitment to creating future opportunities for the next generation. “I think from a technology point of view, the underwater cable (international submarine Broadband) would add national opportunities, not just for local businesses but offerings for national companies coming in. what we want to try and do on the sunshine Coast is have a balance of businesses and the infrastructure to facilitate that,” he says. from his appointment with the Chamber of Commerce, Troy identified an opportunity to analyse what changes could be implemented to help drive what he sees as the Coast’s fastest growing industry – entrepreneurs. He says, innovation is already booming across the region, but now we need the infrastructure to support it. “The Sunshine Coast is fast becoming a leader in technology and innovation for start-ups and entrepreneurs. These industries are becoming their own little economy. we need more national business without destroying the businesses that we’ve already got. and we need to grow in a way that also supports our natural environment,” he says.

Troy also believes that the recent and rapid rise of world class sporting and music events has also contributed to an influx of people coming to town, who had previously viewed the Coast simply as a holiday destination and were now considering it as a place to settle down. “In the future, the biggest changes will come from the new health precinct and seeing the bigger australian developers come to the Sunshine Coast, such as aurora at south Caloundra and with the new Maroochydore CBD,” he says. “It’s preparing us for a future we have needed for a long time. The Coast will not survive just on hospitality and the building trade. Having a good balance of national and small business is going to create more jobs, which is a future for our youth that we’ve never had before. “To move the Coast forward from a business perspective it’s important that our key messaging is around welcoming business. we want newcomers to know that we are serious about business diversity. To achieve this, it’s really important that businesses and residents are able to collaborate and come together to decide on the future of the Sunshine Coast, and the chamber sees itself as a leader in driving this forward.” in the past 12 months Troy has seen quite a few changes happen within the chamber – changing times means having the right people on the committee and having the right membership offerings for businesses.

Troy’s Tips Why should you Join the chAmber of commerce?

connection, MentorinG, advocacy The Chamber is about connecting people, mentoring and advocacy. There are many opportunities that come from our events. We provide information and assistance for businesses to grow and this offering is diverse enough to cater to start-ups or corporates. Give yoUr BUsiness a heaLth checK working with the chamber will teach you to evaluate what offerings you present to your customers and stakeholders, and if you aren’t offering enough, look at how you can add more value and how you can do things better - it’s like giving your business a health check.

TROY DEIGHTON

“Every business is different. The needs of corporates, as opposed to sole traders, are very different. We need to facilitate value propositions to different business groups, and it’s important for members and stakeholders that we create events that have a wow factor,” he says. “we believe that this is what businesses have to do for themselves as well. Look at the market, evaluate how it is going. Get a fresh set of eyes onto what you are doing if you are too close to your business.”

for more informAtion on the mAroochydore chAmber of commerce, visit: WWW.MAROOCHY.ORG

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more stress, less time, more resPonsibility, less suPPort. sound fAmiliAr?

7 stePs to Add vitAlity to your business and personal life WORDS NIKKI FOGDEN-MOORE, CORPORATE WELLNESS EXPERT

HOW DO WE GET BACK TO LIVING A LIFE WE LOVE WITHOUT GIVING ONE THING UP FOR ANOTHER? AS A BUSINESS OWNER, LEADER OR ANYONE IN CORPORATE KNOWS - THE BEST RESULTS COME WITH A CLEAR STRATEGY AND THE COURAGE TO MAKE A PLAN THAT’S RELEVANT, REALISTIC AND RESULT DRIVEN. SO WHY ARE SO MANY PEOPLE STRESSED, AND NOT RUNNING THEIR BODY LIKE THEIR BUSINESS? in 2015 it was quoted that 64% of people were stressed, overwhelmed, exhausted, stuck in a rut, wading through mud and emotionally burnt out. No spark, no mojo, just monotony. overall statistics show lower levels of personal wellbeing and workplace wellbeing, higher levels of stress, depression and increased symptoms of anxiety than ever before. What if there was a very simple way to change that pattern of highs and

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lows and feeling over-worked once and for all. What if you could learn to blend your business aND your personal vitality on a weekly (even daily) basis without turning your life upside down? Here are 7 steps you can action right now to get back into control, feel in balance and create sustainable energy levels for work and play: More importantly, do this for yourself and lead your team by example for lasting results.

1

PlAn A WinninG WeeK With All AreAs of life It’s time to recognise your week as a whole and not try to fit everything else around work. Friends, family, health, fitness, time out - they all need to be factored in and lodged in your agenda like work appointments. i call these the 6 Pillars of Vitality.

www.thinkbusinessmagazine.com.au


2

3

Fresh is best. Opt into accountability for great fuel for your day. Choose fresh salads rather than rich, creamy dressings and make conscious choices of food that will recharge, rather than empty calories. Don’t skip meals and go for the fresh ingredients on a menu when out for work.

Give yourself permission to write a new set of well-being and weekly schedule goals. What worked for you in your 20’s is probably not going to work now. Re-organise your health and fitness choices, and use of time based on your current life and responsibilities. get smart and be proactive.

choose heAlthy fresh food, All the time

out With the old

7 4

focus on fresh Air

Exercise outdoors rather than aiming for gym sessions or workout classes that you know you won’t make with your ever changing schedule. Take ‘walk and talks’ for updates with your team, even if it’s around the office. When you can - MOVE. Get out of that chair and stand up. It’s never too late to be the healthiest version of yourself no matter what your title, position or age. In fact, it’s essential for clarity, decision making and sustainable success.

5

mAKe exercise A PArt of your dAy - every dAy Enough said.

don’t sKiP meAls And Go for the fresh inGredients on A menu.”

the lAst but most imPortAnt is the 1% rule If you want to bring your business and your personal vitality to life, take each element that has been eluding you health, personal finance, family or friends and add 14.4 minutes in your day dedicated to that. After 100 days you’ll be 100% better off. Little improvements make a big difference. Find support and advice from people who are truly experienced and understand the nature of striving in business.

Get rid of diGitAl devices from the bedroom Turn your sleep space into a place of peace, calm and real rejuvenation

6

for more informAtion: NIKKI@THEVITALITYCOACH.COM.AU WWW.THEVITALITYCOACH.COM.AU

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the connector WO R DS I N G R I D N EL SO N P H OTOS R EEC E WOO D L A N D

LEADING SOCIAL COMMENTATOR BERNARD SALT RECENTLY DUBBED THE SUNSHINE COAST THE ‘ENTREPRENEURSHIP CAPITAL’ OF AUSTRALIA. HELPING TO NURTURE AND PROMOTE OUR UNIQUE ENTREPRENEURIAL ECOSYSTEM, WHERE INNOVATION, NEW IDEAS, ENTREPRENEURS AND STARTUPS ARE ACTIVELY SUPPORTED AND ENCOURAGED, IS THE CHIEF EXECUTIVE OF THE INNOVATION CENTRE AT SIPPY DOWNS, MARK PADDENBURG. WE CAUGHT UP WITH MARK TO DISCOVER THE INSPIRATION BEHIND THE CREATION OF THE CENTRE AND THE HUGE IMPACT IT HAS HAD ON STARTUPS AND HIGH GROWTH BUSINESSES – AND IN TURN, OUR LOCAL ECONOMY.

Mark Paddenburg has always had an entrepreneurial streak and it’s this passion to see Sunshine Coast start-up businesses grow and prosper, coupled with his instinctive ability to connect people with opportunities and resources, that landed him his dream role as chief executive officer at the innovation Centre in 2012. “i have always been interested in start-up businesses. i started doing the paper run when i was a kid and we lived on a farm so I was the one selling the cherries, plums, peaches, anything. I quickly learned as a young teenager the value of money and the sense of satisfaction of making money for myself,” says Mark. In previous roles, Mark assisted a range of start-up ventures

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and has also worked in various business roles in Australia, the UK and China as well as The Office of Economic Development for the City of Brisbane – where he discovered his talent for connecting people. “Working at The Office of Economic Development, part of the role was to assist and facilitate with new investment coming to Brisbane and supporting entrepreneurs and innovators who needed guidance and connections,” says Mark. “That’s my skill set – I’m good at connecting the dots between ideas, capital, people, teams, students, researchers. That’s really what this job is about, connecting our members with the opportunities they may not be aware of and the resources they need to grow their team.”

www.thinkbusinessmagazine.com.au


We hAve become A destinAtion of choice for entrePreneurs.” Established in 2002, the Innovation Centre was the brainchild of Founding Vice Chancellor of the University of the Sunshine Coast, Paul Thomas. The centre’s role is to create tangible value for stakeholders including member businesses, the regional business community, the University of the Sunshine Coast, entrepreneurs, small business owners, students, all levels of government and the many people who call the sunshine Coast home. “Paul had a vision for the Sunshine Coast. we had a rapidly growing university but all the fruits of its labour would be pointless if the best and brightest graduates had to leave the sunshine Coast to go interstate and overseas for work, which is what was happening,” says Mark. “The vision was to develop an innovative centre and business incubator to connect enterprising students who wanted to start their own business and provide them with the suitable infrastructure, which wasn’t being provided for in the private sector at the time.” Since 2002, the centre has been home to more than 160 start-up and high growth companies who have collectively employed over 700 staff. “we had an impact assessment done last year that showed these businesses had contributed $60 million of payroll into the local economy and we helped raise $32 million for those companies in terms of early stage capital,” says Mark. “Even better, 89 per cent of those companies are still in business, which is fantastic given that unfortunately 95 per cent of small businesses fail within four years. The innovation Centre is currently home to 47 businesses,15 of those are associate or virtual members who work off-site but still have access to all the benefits, and there are many.

“Members pay one invoice per month, which covers their office space, fibre connections of 300 megabits per second speed, plus access to a mentor panel, an in-house chief technical officer for tech support, access to a video podcasting studio, meeting rooms, the list goes on. all they need to bring is their laptop. we keep it simple. They don’t need to sign long leases, it’s just from month-to-month. We offer small to large offices and they can move as their business grows.” with the highest growing economy in Queensland and plans to triple the economy over the next two decades, it’s an exciting time to be in business on the sunshine Coast and according to Mark we have all the right attributes to make it happen. “We have a skilled labour force, the infrastructure, business culture and of course the wonderful lifestyle on the sunshine Coast. it really does make us very attractive.”

MARK PADDENBURG

mArK’s five

reAsons Why smAll businesses fAil Within the

first five yeArs

1

Business owners fail to do their research properly, particularly competitor analysis

2

The founder or innovator becomes the CEo and might not be the best person to lead the team

3 4

Insufficient funding Lack of cash flow

5

Not knowing enough about their ideal customer and doing the right marketing to achieve the engagement in the first few years

mArK PAddenburG CHIEF EXECUTIVE OFFICER INNOVATIONCENTRE.COM.AU

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rolling in the douGh WORDS KIRRILEE MURRAY

TOM O’TOOLE IS THE TYPE OF BUSINESSMAN WHO EMBODIES THE DEFINITION OF WHAT IT MEANS TO BE AN AUSTRALIAN. HARD WORKING, READY TO LEND A HAND AND FULL OF SPIRIT. HIS JOURNEY HAS NOT BEEN A SMOOTH RIDE, BUT EVERY OUNCE OF HIS SUCCESS CAN BE ATTRIBUTED TO ONE SINGLE STRATEGY – HARD WORK. TOM OFTEN ATTRIBUTES HIS MOTIVATION FOR SUCCESS TO HIS CHILDHOOD OF POVERTY. FROM A YOUNG AGE HE WAS DRIVEN TO TURN HIS LIFE AROUND TO CREATE A BETTER FUTURE. WITH LIMITED SCHOOLING AND THE CHALLENGE OF A LEARNING DISABILITY, TOM UNDERSTOOD THERE WAS ONLY ONE WAY TO IMPROVE HIS SITUATION AND THAT DEPENDED ENTIRELY ON HIM. FOUR DECADES LATER AND TOM IS THE OWNER OF AUSTRALIA’S MOST SUCCESSFUL STANDALONE RETAIL BAKERY BUSINESS, BEECHWORTH BAKERIES. THINK BUSINESS MAGAZINE CHATS WITH TOM ABOUT HIS REMARKABLE TRANSFORMATION FROM BAKER’S APPRENTICE TO SUCCESSFUL BUSINESS OWNER, SPEAKER AND MENTOR.

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www.thinkbusinessmagazine.com.au


think: what were the deFininG Factors that transForMed yoUr BUsiness FroM a start-UP to a FULLy-FLedGed coMPany? After the break-down of my marriage I was forced to ask for help with the aspects of the business I didn’t know about. This was a huge challenge for me but also a great help because i had to learn how to take care of my business. it also prompted me to change my management style and get my staff involved. It gave them a sense of ownership, which inspired them to help make the business a success. think: as yoUr BUsiness eXPanded to incLUde Branches in other towns how did yoU estaBLish and Maintain connections with each coMMUnity? In the beginning it was difficult because i was determined to give back to each community in a big way, but it was also very rewarding to build meaningful connections. We do a lot of sponsorship, we employ locals and we do a lot of demonstrations and giveaways at community events. think: how do yoU stay connected to eMPLoyees that are GeoGraPhicaLLy sPread oUt? as well as taking to time to regularly visit the different stores we have a monthly in-house newsletter for all staff and the store managers stay in contact with each other through group messaging. we also make a point of having our management meetings in person. think: how do yoU continUe to Motivate yoUrseLF aFter so LonG in the saMe indUstry? I’ve been in the baking industry since i was 16 and in the beginning money motivated me to relieve me of poverty. I’m still passionate about the industry because my team motivate me, I remember to be grateful for what I have and remind myself where I came from. i subscribe to every baking magazine in the country plus some overseas publications to keep up with what is happening in the industry and i give myself the task of going to the gaol every week and talking to prisoners about making life changes. Most of all I try to be grateful.

think: how does aUstraLia’s cULtUre iMPact how yoU rUn yoUr BUsiness? We are a country style business, we embrace and promote the australian culture as part of our brand, because it helps us with our business values. This has helped to increase our customer base to include the tourist demographic. think: what are the BiGGest chaLLenGes yoU have Faced so Far as a Leader? Asking for help, learning how to let go in order to grow and giving staff the space and freedom to take control. think: do yoU BeLieve startUP BUsinesses have it easier these days? i think the rules and regulations that businesses have to follow now compared to 40 years ago make it harder, but I also think there are more opportunities than ever before. We are no longer restricted by our location because of the access to resources that technology offers. think: what do yoU FeeL are the BiGGest chanGes to the aUstraLian BUsiness LandscaPe in the Last Few decades? Mainly technology and social media. They have connected the world instantly. think: what is the one Piece oF BUsiness advice yoU woULd LiKe to Pass onto the neXt Generation? The importance of helping people and not being too proud to ask for help when you need it.

scAn this PAGe to WAtch tom o’toole Present his enGAGinG breAd WorKshoP for businesses

think: iF yoU coULd chanGe one Part oF yoUr career what woULd it Be? learn to work ON my business earlier instead of always working IN my business because working in my business is staying in my comfort zone so it was easy for me to do, but I wasn’t pushing myself. i wish i had thought bigger. Had a bigger vision for myself earlier.

hArd WorK is the Price thAt i’ve hAd to PAy for my success.” find out more About tom’s insPirAtionAl sPeAKinG events, visit: WWW.TOMOTOOLE.COM.AU

toP PrinciPles to business success

1

MY BUSINESS HAS BEEN AND ALWAYS WILL BE ABOUT PEOPLE, NOT ABOUT THE PRODUCT

2

IT IS VITAL TO TREAT EACH AND EVERY CUSTOMER AS AN INDIVIDUAL

3

ALWAYS BE AVAILABLE TO SERVE YOUR CUSTOMERS’ NEEDS CONSISTENTLY

TOM O’TOOLE

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BUSINESS

the ‘secret sAuce’ of mArKetinG success WORDS LUKE KRESTENSEN, IC PRINT

I AM OFTEN ASKED BY OUR CLIENTS FOR THE ‘SECRET SAUCE’; A NEW IDEA OR DIFFERENT MESSAGE THEY CAN USE THAT IS GOING TO CHANGE THE GAME AND GET THEM EXPONENTIALLY BETTER RESULTS THAN NORMAL. THE ‘SECRET SAUCE’ THAT WILL GET YOU RESULTS IS SIMPLE. it’s not in having a new message, although that will help. It’s not about having a quality design, though again, that will help. It’s not coming up with something new and unique that no one has ever done before in your industry, which may or may not help. The secret sauce that gets the results that you are hoping for is CoNsisTENCY! The clients we work with that consistently get the results that put them in the top 5% of their industry are the ones that are consistent with their marketing. They are consistent with the frequency and the message that they put out into the marketplace. The concept to learn here is called ‘Recency & Frequency’. A statistic to keep in mind is that 80% of people will buy from the business that has marketed to them most recently and the one that has marketed to them the most frequently. That’s right, 80%!

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A quick look into basic neuroscience principles can identify 2 simple reasons why this is the case.

reAson 1: the rAs (reticulAr ActivAtinG system) Put simply, the RAS is a part of the brain that filters things from the conscious brain to stop it becoming overwhelmed. Think of the last time that you purchased a new car. Just after you drove it out of the dealership the roads suddenly become filled with hundreds of cars the same model as yours. Magically the day before no one was driving them and today they are everywhere. The truth is that they were always there; the information was just being filtered by your RAS because of its unimportance to your life. The RAS basically makes

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your marketing invisible to those that are not familiar with your marketing or not interested in what you are talking about, and this is the pitfall of inconsistent marketing. No one remembering your message because they haven’t seen it enough means it will make it from hand to bin in no time. Conversely, repeating your message does keep your audience’s RAS open to your message. The big end of town knows this fact, which is why you continuously see Coca-Cola and McDonald’s marketing everywhere, from the street corner to your living room. Everyone knows who they are and what they sell. They got there and continue to stay there by keeping their message top of mind through complete market saturation. That is why when you drive past a McDonalds it isn’t filtered out of your consciousness by your RAS, you are instead consciously or subconsciously aware that you just drove past a set of golden arches and if you are feeling hungry they have

reAson 2: the mere-exPosure effect Being frequent is one side of the coin, but you must also keep your marketing consistent in message to increase its effectiveness, as presented by the mereexposure effect. The mere-exposure effect is a psychological phenomenon first tested in 1876 by Gustav Fechner and most famously in 1968, by Charles goetzinger to prove a point hypothesised by Robert Zajonc, where people tend to develop a preference for things merely because they are familiar with them. Goetzinger’s experiment saw a student come to class in a large black bag with only his feet visible. The black bag then sat on a table in the back of the classroom. The experiment was to observe if the students would treat the black bag in accordance with Zajonc’s mere-exposure effect.

this effect is sometimes called the familiarity principle. Put simply, by being seen more frequently by your clients with a consistent message; you will become the preferred option for them. adding extra communication to support your core message such as; direct mail, flyers, letterbox drops, thank you cards and phone calls included in your follow up or nurture process that support your message will not only add value to your relationships but it will also offer extra reasons to make contact, adding exposures and increasing the mereeffect. For example; emailing them for address details, sending the physical letter and calling them up to confirm they received your letter adds three additional exposures and gets the mereexposure effect working for you even sooner. Consistency, Frequency and Recent Exposure are the three keys to getting your message heard!

the clients We WorK With Who consistently Get the results thAt Put them in the toP 5% of their industry, Are the ones Who Are consistent With their mArKetinG.”

significantly increased the odds of you pulling in to grab a burger! so to ensure your marketing message is being noticed, keep up a high frequency to your target audience. Every business will vary, but I would say that once per month or more is a good starting point to test. If you need to choose between reach and frequency, my recommendation would be to decrease the reach until your budget allows for monthly marketing messages for at least 6 months. Now that we have talked about frequency it’s time to look at reason two for attention-getting marketing and how to saturate the marketplace effectively.

His hypothesis was confirmed. The students in the class first treated the black bag with hostility, which over time turned into curiosity, and eventually, friendship confirming Zajonc’s mereexposure effect, by simply presenting the black bag over and over again to the students their attitudes were completely shifted. The important thing to remember here is that the message or ‘control’ was the same, day in, day out. A black bag with exposed feet was presented to the group. The colour did not change, nor did any other part of the appearance or message presented in the experiment. In social psychology,

LUKE KRESTENSEN

ic Print And desiGn WWW.ICPRINT.COM.AU PHONE: 1800 427 746

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survey subcard

BLOKES ABOUT TOWN

formAl educAtion – is it essential for success? WORDS INGRID NELSON PHOTOS WADE FUGE VIDEO THE FILM TREE VENUE FIVE AND DIME, COTTON TREE

THERE IS MORE THAN ONE WAY TO ACHIEVE A SUCCESSFUL CAREER AND IT DOESN’T ALWAYS INVOLVE A UNIVERSITY DEGREE. LIFE EXPERIENCE, ON-THE-JOB TRAINING OR PERHAPS EVEN STARTING YOUR OWN BUSINESS CAN PROVE TO BE MORE LUCRATIVE. THE BLOKES ABOUT TOWN GAVE US THEIR TAKE ON WHAT’S MORE IMPORTANT TO THEM.

richard Branson, steve Jobs and Mark Zuckerberg – they are three of the most successful entrepreneurs and businessmen of our time, but did you know not one of them went to college? In fact, Richard Branson is dyslexic and left school when he was 16. Many business-minded people take the less conventional route to fame and fortune, gone are the days when we were brought up to believe that going to school, getting good grades, working really hard and getting a good job are the steps you need to take to become successful. Today, a good education and formal qualifications are no longer a proven formula for wealth and success, with many employers placing life experience and a can-do attitude above a university degree. To find out more, I asked the Blokes About Town for their thoughts on the matter over a delicious lunch at five and Dime Burger Bar at Maroochydore. Joining me for lunch was Sean O’Donnell, creator of Eco Nappy, a premium biodegradable nappy service delivered throughout australia; adrian Ramsay, revered home designer and CEO of Adrian Ramsay Designs; Craig Dalgleish, owner of Toni & Guy, Cotton Tree; Ishkan Kojayan, award-winning jeweller and owner of Laurisha Jewellery, Montville, and real estate expert John Pratt of One Agency, Caloundra.

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John PrAtt

ishKhAn Ko

seAn o’donnell

JAyAn

is A deGree essentiAl for A successful cAreer? craig: Not necessarily, although it can provide the rigour and discipline needed to be successful. It’s also a great opportunity to meet like-minded people who can go on to be lifelong friends and mentors. john: No. I think past work and life experiences are some of the greatest education tools you can have. a degree can give you all the theory in the world but actually rolling your sleeves up and getting stuck in there, doing the hard yards and learning from all that time is invaluable. ishkan: No, I don’t think it is essential. i know many people who do not have degrees and have extremely successful careers. Through hard work, determination and lots of experience they have probably achieved more than those in the same industry who do have a degree.

sean: No. But it is essential to have determination, creativity and introspection and fantastic communication. WhAt Are your thouGhts When it comes to on-the-Job trAininG versus formAl trAininG? sean: A balance of the two would be ideal, but leaning more toward on-thejob training. This gives all involved a connection to the business, culture and brand. craig: it really depends on the work and the individual person. some people need the structured learning environment of university or TAFE, whereas others are more suited to being part of a workbased learning environment. from a hairdressing standpoint there is always a strong emphasis on in-salon training and development throughout a person’s career as trends, techniques and equipment are always changing.

adrian: On-the-job training is invaluable, in a real life situation you get the nuances that you would never learn in a theory-based education. when employing, I look at a wide range of areas including formal education. I use it as a way to assess if people see the job through and get the job done, far more than the marks they achieve, then I look further into how they have developed since they finished their formal education. in mAny vocAtions, such As nursinG And the Police force, A deGree is noW reQuired. some Would sAy on-the-Job trAininG is PreferAble in these hAndson tyPes of Positions – WhAt Are your thouGhts? sean: I strongly agree, a friend of mine is a doctor in A&E, he struggles with the lack of care from “formally trained” nurses and the occasional problem with knowing the parameters of their role.

it is essentiAl to hAve determinAtion, creAtivity And introsPection And fAntAstic commmunicAtion.” adrian: No I don’t. The fact that many of the most brilliant business people in the world have very little tertiary education is testament to this. in saying that, it can often be a quicker path to success to have a degree rather than not, dependant on what you are looking to achieve and the level it may allow you to enter the market at. in my experience I’ve found that success is more dependent on the personality type and suitability to the role.

john: i think both have their place. i have had both, but being a hands-on practical type i enjoyed the on-the-job training more, being in the real world environment and knowing the difference between the theory of how it should work as opposed to how it does work in everyday scenarios. some things you just can’t teach in a formal classroom. ishkan: i think both are as important as each other for certain industries or jobs. If you have the opportunity to do both, then i think that would be the ultimate. THINKBUSINESS | 91


BOOK REVIEW AdriAn rAmsAy

profession can be explored and lead to training in specialist fields. Hopefully followed by ongoing education. john: You can tell someone how to do something or the procedure to be followed, but actually doing the procedure with all the quirks and idiosyncrasies that it might entail really needs that hands-on experience. a prime example of this is when I was in the RAAF learning how to fill Liquid Dry Breathing Oxygen containers for F 18 fighters. The procedure is all there in black and white, but learning how to deal with frozen fittings or connections that just don’t want to fit together or leaks that occur, all of that needs to be learned from the hands-on experience of doing it over and over again. ishkan: i tend to agree that these types of positions would require more onthe-job training. There are some things that just cannot be learnt or taught in a classroom or lecture theatre, especially when dealing with the public.

crAiG d

AlGleis

h

adrian: one without the other would be a worry. i would say that both are required to get an effective result, whether it should be a degree or not, I think much of this is driven from a lack of the government to be able to get the selection criteria correct in the employment process, and they are hoping at selection from a more academic based group of applicants will do the job for them, I think they are wrong, and that you need diversity in the way you select people and testing them well will find the right ones. craig: Yes certainly there is a role for on-the-job training, but as technology and best practice is developed and implemented in certain professions a degree is preferred. Also in a formal learning scenario different facets of that

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WhAt Would you choose first in A PotentiAl emPloyee – sKills (formAl trAininG) or Attitude? adrian: Attitude first, then skills – always. Culture is such a key to customer experience that if the attitude stinks, the business will stink as well. A great culture is worth everything, look at how Richard Branson approaches this and look at how we love dealing with his companies ... it says it all. craig: Definitely attitude – skills and training can be learnt, attitude can’t! john: i think attitude is a primary consideration. obviously skills are required in particular areas, but they can also be learned and improved on. a person with the right attitude to a job will make the effort to make sure the job is done right. I’m sure we all know people who are highly qualified in their areas but poor attitude can make them a liability, and in areas of customer service that can really hurt a business. ishkan: i would look at both as they can go hand-in-hand. You definitely want an employee with the right skillset, but having the right attitude can go a long way as well. sean: Now that it is a hard question, I would love to say attitude but i know i tend to choose demonstration of skills first. If an applicant demonstrates great attitude, determination and fantastic communication, they will be highly rated.

do you imPlement trAininG As PArt of your emPloyment? adrian: Yes. My team and i are always learning and challenging the growth of ourselves personally as well as professionally. Adrian Ramsay Design House employs a world class business coach, has a board of directors, and I believe that when it comes to getting it right it’s best to follow the rule of the three Ts = train, tolerate or terminate. we work to create kPis that will deliver better culture and better customer outcomes internally as well as externally, and have fun along the way. craig: Certainly. Training is one of the most important components of working with Toni & guy in a very creative atmosphere and what sets us apart from other salons. There is extensive training required to reach a prescribed standard to work at one of their salons. Then an ongoing program of further training and education to keep up-to-date with new looks and techniques as trends change. That is one of the most exciting parts of hairdressing – that you never stop learning. sean: in my business i choose people with certain skills and work in a collaborative way. This is a method of training and then i expect the person to work semi autonomously.

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scAn this PAGe to WAtch video footAGe from our bloKe’s lunch

offerinG both indoor And outdoor dininG oPtions, the sPAce inteGrAtes A nostAlGic industriAl decor.”

Andi Wood oWner

Five and Dime burGer bAr The first thing that strikes you when you enter five & Dime Burger Bar at Maroochydore is the inviting atmosphere and genuinely warm welcome you receive from Andi Wood and her friendly staff – it’s what they pride themselves on. That and their gourmet burgers of course. Made from scratch using the freshest, locally-sourced ingredients from the Sunshine Coast and surrounds, you can taste the love and attention that goes into each and every burger. using only 100 per cent australian Wagyu beef, each of the juicy patties are hand crafted in-house daily and all burgers are served on a light brioche bun, with gluten free options also available. The name of the restaurant is a nod to the unique style and history of the classic American Five & Dime stores, popular in North america in the late 1800s. Offering both indoor and outdoor dining options, the space integrates a nostalgic industrial decor. We kicked things off by sampling a selection of tasty morsels from the sides menu including cheesy jalapeno

poppers, hand cut onion rings and crispy crinkle-cut chips, the perfect accompaniment to your burger. Offering an array of mouth-watering beef, chicken, pork and vegetarian options, after much deliberation, i decided on the mushroom and goat’s cheese burger and it was sublime. The perfect combination of balsamic mushrooms, sweet roasted capsicum, goat’s cheese, caramelised onion, rocket and garlic aioli, it really hit the spot. other popular options included the pulled pork burger with crunchy slaw and southern fried chicken burger, both of which looked (and from all accounts tasted) amazing. Five & Dime is also open for breakfast on Saturday and Sunday from 8am and also caters for groups. If you love good food, good service and a great setting, drop in, you’ll love it. five & dime burGer bAr 20 AERODROME ROAD MAROOCHYDORE PHONE: 5479 5946

THINKBUSINESS | 93


OPINION

What are the

biggest challenges

fAcinG businesses todAy? JANE MEREDITH SECRETS SHHH FOUNDER/OWNER

the need to react swiftly to change is even more vital for success today than it was say, 10 years ago. There is so much competition between bricks and mortar retailing and e-Commerce, making it more challenging to continue to have a unique product and selling point. Your online store is becoming the Flagship store of your business and is the first thing many customers see these days. Hand-in-hand with e-Commerce is social Media. This ever changing environment continues to be the number 1 challenge of our business. The entire arena changes overnight and it can change your business overnight too. we love it! we are constantly trying to align ourselves with partners who complement our brand and philosophy. i believe that all challenges are opportunities and should be embraced. we are always excited to see what a new idea or direction brings. i love being in business and the wonderful challenges it brings.

94 | THINKBUSINESS

JAMIE GRIGG JGI INSURANCE BROKERS FOUNDER/OWNER

as an owner of two businesses, I feel the biggest challenges sometimes come from within. Trying to find the elusive work-life balance people talk about. Business owners usually work in excess of 60-80hrs per week and sacrifice almost everything they have to make it successful. Just recently I had my first holiday in over 4 years! I also feel that social media trends and market changes would have to be one of our biggest challenges as a business. Trying to keep on top of our competition is now a full-time job. Let’s not forget client expectations which have increased incredibly over the years and in many cases clients want their needs attended to immediately. I feel this stems from smartphones and fast-paced internet speeds which offer services almost instantly. To keep up with market demands, we had to implement same day service to ensure our client’s expectations were being met.

JODI CHAPMAN ADVANCED WELLNESS CLINIC OWNER

GettinG noticed. Being seen in your industry, and standing out to your target audience through the right marketing, being understood for what you have to offer, while displaying the benefits for your audience in an ever expanding and evolving marketplace. Educating your target audience through varying forms of media that have the capacity to express what you do, while representing accurately how you can benefit them, in a succinct manner, can certainly be a balancing act. Choosing the right forums can be quite unique for your type of business. Accurately testing and measuring your chosen forums and their responses to learn what works for you and what doesn’t. Testing and measuring your marketing material can be one of the most fundamental components of any small business looking to expand and grow successfully.

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The Word SIX EXPERTS IN THEIR FIELD IMPART THEIR OPINION AND KNOWLEDGE

CHRIS SALES LUXE COMMERCIAL REAL ESTATE OWNER

stayinG UP-to-date and in front of market trends is one of our biggest business challenges. If you do what you did yesterday, you won’t continue to attract customers. The market is forever evolving and if you don’t stay ahead of it, then you’re no longer relevant to vendors, investors, buyers or your peers. Personally, the prime example of that is in real estate marketing; as online options increase and override the success and penetration of print, we need to utilise that space and make it as effective as possible. Identifying your target audience is one thing but how to reach them, catching their attention and finally motivating them to act requires strategies and a level of understanding that continues to change.

JACK CHILDS THINK INVESTMENT REALTY DIRECTOR

GettinG the riGht people in your business who have the same focus and passion for the business that you do as the owner is one of the biggest challenges a business can face today. The first and most important part of looking after your business is to look after your staff. Having the right ethos as an employer includes ensuring your staff are happy. Happy staff equate to happy clients, as when they are happy and fulfilled at work your staff can concentrate on looking after your clients to the best of their ability. It is also vital to ensure your staff have access to the right support and training to be able to deliver their best. another challenge is to take the time to ensure you have a clear direction of where you want your business to go, and to review your goals regularly. keep a close eye on the fundamentals; review your costs and profits; and test and measure your marketing – it’s vital.

CRAIG LEVITT THINK BUSINESS DEVELOPMENT BUSINESS DEVELOPMENT MANAGER

the PerenniaL chaLLenGe of employee engagement has only been made harder as generation Y (people aged between 22 and 39 years) have become more dominant in our workforce. Why? Often put down for being programmed for instant gratification they have also been described as difficult and unrealistic in their career ambitions. whether this is true or not, there is no doubt they have been responsible for changing people management practices in the workplace. So how do we take advantage of this? Change the way you manage. one way to manage all doesn’t work anymore. It has to be one-to-one management. You must learn to how to relate individually to your people, creating rapport, building trust and identifying their goals and passion. Then when you can align these with your business goals, that’s when the magic happens and you can unlock all of their energy for your business.

THINKBUSINESS | 95


BOOK REVIEWS

reading to motivAte & insPire BY ALEX KORB REVIEW 2 OF 2 BY CHARMAINE CHILDS

oUr daiLy Practices and habits have a profound impact on our happiness, health and success. In The Upward Spiral, neuroscientist Alex Korb offers an incredibly accessible and practical insight into recent neuroscientific research. He suggests simple choices that we can make every day to rewire our brains, to initiate an upward spiral in the direction of health, happiness and success – instead of a downward spiral in the direction of depression, anxiety and confusion. we need only make small changes to greatly increase momentum in an upward direction.

Along with many other topics, he touches on the neuroscience of habit formation. Korb explains that the reasoning part of the brain, the pre-frontal cortex, is where we make decisions based on our values and goals. This cortex has limited resources, and once they are depleted or stressed, the more impulsive and habitual parts of the brain will take over. However, once we have developed good habits and find ourselves depleted, stressed and becoming impulsive, we fall back on these newly formed positive habits to make choices that send us spiraling upward, rather than down.

rePetition When we repeat any action, thought sequence or behavior, it creates a neural pathway in the brain. Every time it is repeated it becomes stronger, taking less deliberate energy to repeat next time (rather than more energy and focus to create change). The best way to break unhealthy habits (or neural pathways) is by deliberately repeating the habit that we want to replace them with. While it will take considerable effort to begin with, the habit will become easier to continue as the pathway becomes stronger. in times where you are calm and energised, do the work of developing better habits through repetition, so that when you are stressed you will instinctively do the things that spiral you up, not down.

be Kind to yourself when trying to create a new habit (or

96 | ABOUTBUSINESS

break an old one), research has proven that when you feel good about yourself, you make better choices, more easily. This is partly because it enhances serotonin activity, which the pre-frontal cortex relies on to be able to overpower the habitual parts of the brain. Find ways to boost your sense of achievement when you repeat a new habit, perhaps by keeping a checklist of habits you want to repeat and ticking them off to mark your success. If you find yourself stumbling in creating or breaking a habit, don’t berate yourself. Take steps to increase the serotonin and other chemicals needed to re-energise the pre-frontal cortex by focusing on what you want to achieve (rather than what you have failed to do) and celebrate that you are making a change. This is not just positive thinking; it is creating a mental environment where change becomes more possible. serotonin activity can also be enhanced by getting more quality sleep, exposure to sunlight, regular massage, aerobic exercise (especially if it is fun), and thinking in detail about happy memories.

chAnGes helP mAKe chAnGes Once we have a habit wired in, it is often activated by specific triggers in our environment. when trying to create significant changes in habit, it can be useful to identify these triggers and try to eliminate these for a while. This is why it can be much easier to establish new behaviours on a retreat or on holiday... by taking a little break you can make a big change.

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WANT TO KNOW HOW TO GET AHEAD AND STAY AHEAD OF THE GAME IN BUSINESS? HERE ARE OUR TOP FIVE READS ON ACHIEVING SUCCESS:

HOW SUCCESSFUL PEOPLE THINK: CHANGE YOUR THINKING, CHANGE YOUR LIFE JOHN C. MAXWELL Synopsis: Maxwell introduces the concept of big picture thinking and how we can use this perspective to change the way we live our lives.

HOW TO WIN FRIENDS & INFLUENCE PEOPLE DALE CARNEGIE Synopsis: Boasting an impressive eight decades in publication, this book is on ‘must read’ lists worldwide. Carnegie invites you into his theories on how to increase your ability to get things done in every aspect of your life.

MINDSET: THE NEW PSYCHOLOGY OF SUCCESS CAROL DWECK

OUTLIERS: THE STORY OF SUCCESS MALCOLM GLADWELL

Synopsis: Professor of psychology Carol Dweck combines decades of research on success, goals and achievement into this number one bestseller. learn how to create motivation and productivity in both business and leisure.

Synopsis: Have you ever wanted to delve into the minds of the world’s best and brightest? The most famous and the most successful? gladwell takes you on a journey into the real lives of high achievers to show us how they got to where they are today.

THINK RICH AND GROW RICH NAPOLEON HILL Synopsis: This iconic book is loved world-wide by university students, entrepreneurs and business people alike. It contains 13 principles for successful living and moneymaking secrets that can make big changes to your life.

ACT LIKE A SUCCESS, THINK LIKE A SUCCESS STEVE HARVEY Synopsis: Harvey takes a different approach to achieving success by showing us that rather than learning a new skillset, what we really need to do is tap into the unique talents that we already possess.

TO READ THE FULL REVIEWS VISIT WWW.THINKBUSINESS.COM.AU

THINKBUSINESS | 97


FINAL WORD

FINAL WORD

SIIMON REYNOLDS IS A LEADING HIGH PERFORMANCE COACH FOR CEO’S AND ENTREPRENEURS WORLDWIDE, HELPING AMBITIOUS PEOPLE EXCEL, MAXIMIZE PROFITS, LEAD THEIR TEAMS AND REACH THEIR GOALS.

SIIMON REYNOLDS THEFORTUNEINSTITUTE.COM

5 suPer effective WAys you cAn become A Productivity mAestro... 1. SPEND 10 MINUTES PLANNING EACH DAY

Resist just starting work in the morning. Carefully prioritise your key tasks, then schedule a time to get them done throughout the day. Every minute of planning saves 10 minutes later on. Here’s Abraham lincoln on planning and preparation: “give me six hours to cut down a tree and I will spend the first four sharpening the axe.”

2. DO THE MOST IMPORTANT TASK BEFORE 11AM People who are ineffective tend to postpone important or tough jobs. Discipline yourself to get it done early in the day before you get caught up in all the busy work that comes as the day progresses. You should plan your day so that you could leave at 11am and still be able to say you got the important stuff done.

3. USE A TIMER FOR ALL WORK ACTIVITIES

This helps you in two ways. It forces you to estimate how long every task will take (which aids efficiency) and it helps you get things done much faster when you know you only have a certain amount of time to do a task. Using a timer feels strange at first, but once you see the results of using a timer you’ll be hooked.

4. FOLLOW THE 80 PER CENT RULE

Perfectionism slows everything down. It’s far more effective to do most tasks to 80 per cent of your ability. That’s all that’s usually needed and you can quickly move on to new work. Yes, there are times when you have to do things perfectly, but most of the time it’s totally unnecessary and a huge time waster.

5. HAVE A LEAVING TIME

When you know you have to get out of the office at a certain time you always work more efficiently all day. Decide what the ideal time would be to leave work each day and stick to that. You’ll find it has an amazing effect on your productivity.

98 | THINKBUSINESS

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Think Business Magazine - Issue 2 - Allan Pease  

The Inside Story on Business, Money and Property

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