let's talk business february 2014
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Let’s Talk Business 1
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
Let’s Talk Business Back To Basics Business Solutions - Support for Small Business
Volume 2 Issue 14 - January 2014
Finding
New
Opportunities,
Products,
Services
Inside this issue
Cover Story - Finding New Opportunities, Products, Services
Business Snippets ...………..3
Your Business and the
Community
Dennis Chiron……………..4
Biz Tips For Small Business
Dennis Chiron …………….5
The Tyranny of Email
Dr Tim Baker …………..…6
6 Ways to Fight Distraction
Geoff Butler ……………….7
How My Millionaire Clients
are Different to My ‘Want’
To Be Millionaire Clients
Dan Buzer ……………........8
Do You Owe The Taxman?
Jo-Anne Chaplin ……….....9
Do You Own Your Domain
Name?
Karen Ahl ………………...10
Stop Interfering
PeterNicol………………...11
Disruptive Incidents in the
Workplace
Ron Court …..…………....12
Live Long and Prosper
Paul Gillmore ………….....13
Let’s Talk Business 2
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
Sometimes there are ideas that hit
us like a lightning bolt, but that’s as far
as it goes. It’s a fact that most creative
new ideas never reach the market place.
Even in today’s “tricky” climate,
business opportunities exist for the
astute operator.
An opportunity is an exploitable situation
or condition which the small business
entrepreneur can turn into increased
sales, profit or competitive edge through
some marketing action.
An important aspect for growth in any
enterprise is to find and exploit new
market opportunities. Even when
business is good, there is always a need,
and there are always opportunities, to
seek out new markets and new ideas.
New market opportunities spring from a
range of possible sources and vary in
their size, importance, and risk.
Flexibility and the speed with which
changes can be put into effect is one of
the key competitive advantages of the
small business.
Being flexible and willing to change is
half the secret. Gaining experience in an
field is a process of trial and error; and a
common mistake is being too cautious to
the extent that nothing ventured nothing
gained.
To survive in a competitive business
environment you must be prepared to
innovate and also take risks. In many
ways the whole principle of investment
in small business is a calculated and
controlled risk.
The trial and error principle is especially
important in marketing where new ideas
Conversely, sometimes a company
will develop a product and then try
to generate a need amongst
consumers. For example, we really
had no idea that we needed a
microwave oven or even an iPad,
until we were told and shown that
we did.
The small business owner who
does not evolve with the
marketplace runs a serious risk of
soon becoming extinct. Innovation
needs to be high on the list of
market opportunity for every small
business.
As a guide to where new
opportunities may emerge, the
entrepreneur should consider
examining some of the following
areas:-
The Internet
Product advantage
Changing lifestyles of the
market place and target market
Emerging technology
Market coverage
Discovery of new applications
Improvement in service
facilities
Cost/price vulnerability
Retail and Commerce
Regional / local tourism
The “Grey” market
*This article is an excerpt from an article
written by Dennis Chiron and printed in
the Hunter Business Review.
Finding New Opportunities, Products, Services
Bionic Ear
are essential to increase sales.
The small business owner who can
arrange his / her commitments to either
think through, or trial the options, plan
new products, or experiment and work
at anticipating shifts in consumer
demands, is in a much stronger
competitive position - simply because
he / she can react much quicker to
changes in the market place.
Efficient small business management
requires a quick response.
Some ideas will win and some will fail.
This means that any experimental push
into a new market must be planned to
minimise any potential loss.
There are always sources for new ideas
and new opportunities. Whenever you
see weaknesses or inefficiencies in the
market, and you believe that you can
improve that weakness or inefficiency,
then you have found an opportunity.
Many, many sources of ideas and
opportunities generate from existing
products or services, and one of the
most promising sources of ideas for
new business comes from customers.
Many successful money making ideas
first arise out of a need by your
customer .
Listening to customers is something we
should do continuously, in order to
understand what customers want, where
they want it, how they want a product or
service supplied, when they want it
supplied, and at what price.
Let’s Talk Business 3
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
NSW manufacturers appear to be
heading for a soft landing, and are
leading their counterparts in every other
State, according to the Australian
Industry Group (AIG).
An AIG / Telstra survey of Australian
manufacturing found that NSW achieved
stronger November/December/January
trends than all other States, with 44% of
companies reporting production
increases and 27% reporting declines.
The quarterly production and sales
performances reported by NSW
manufacturers were the strongest in
twelve months.
A Good Example
of Bad Research
The Pepsodent
Toothpaste Company mounted an
advertising campaign in South-East
Asia, promoting pearly-white teeth when
the user buys Pepsodent.
It turns out that many Asians darkly
stained teeth - particularly with women -
as being very attractive.
Industry Sector Growth
The fastest growing
industries in Australia,
according to a recent
Yellow Pages survey are:
Computer networking firms (up 48% in
the last 12 months); Hot food shops (+
35%); Arcade game suppliers (+39);
Massage Therapists (+41%); Mobile
phone outlets (+36%); Relaxation
Therapists (+31%); Training
organisations (+26%); Domestic safety
equipment (+27%); and Child Care
Centre (+21%).
Industry Sector Decline
The fastest declining
industries / products in
Australia, according to the
same Yellow Pages survey are: Arts and
Crafts; Video recorders; Calculators;
Dishwashing machines; Microwave
ovens; Refrigeration equipment
services, and Leather products.
Chinese Coke Options
Local soft drinks in China
are gaining a greater market
share while market leader
Coca-Cola is losing ground, according
to Market Research company Frank
Small & Associates. Asian Media
Magazine reports that the number of
Chinese consumers who say they prefer
Coke has dropped from more than 35%
to just under 30% in the last year. In
contrast, local brands are building up
their own base of loyal consumers. For
example, Asian Carbonated has
increased from 4% to 11% in the last
year.
And On The Same Subject
In China, the slogan “Come Alive With
Pepsi”, translates as “Bring your
ancestors back from the dead”.
Hearing Things
A company in the United
States is now producing
cans of beer that actually talk. The cans
tell consumers about real estate
purchases, motor vehicles, and clothing.
They even tell some lucky drinkers that
they have won a prize and how to claim
it.
Only In America!
Free, 12 months
Internet access is being
given away as
companies are rushing to link
prospects and clients into the
Internet. Hilton is leaving access
disks on pillows in guests’ rooms;
Volkswagon is putting them in the
glove boxes of new cars; Time Inc.
is inserting them into over 7 million
magazines; and MasterCard
International is mailing them out to
all their customers.
ATO Keeps Us On
Our Toes
A Beaudesert business
couple received a
strong letter from the
Australian Taxation
Office telling them they
had not lodged a tax
return for their business for over five
years, and they were liable for fines
up to $50,000 and 12 months’ jail.
The couple were obviously
concerned, particularly as they had
only been in business for 12 months.
After a call from their accountant to
the ATO, it turns out that it was the
old “computer error” story again.
Wonder how the ATO would react if
the shoe was on the other foot and
the business couple had made the
error?
Lord Laurie
Speaks
Swimming
coach and noted
business speaker
and motivator Laurie Lawrence was
quoted recently as saying:
“Perspiration is the lather of
success”.
NSW Leads
Manufacturing
Let’s Talk Business 4
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
Your Business and
the Community
Dennis Chiron Marketing Means Business
0451 184 599 www.marketingmeansbusiness.com
dennis@marketingmeansbusiness.net.au Skype: dennis.chiron2
How does your business fit into
the community? Is there a
downside to usage of your
product? Can the community be
put at risk by using it?
Carlton United Brewery (C.U.B) is
spending literally millions of dollars
on advertising urging to be
responsible.
It begs the question … is it all too
late?
There is a massive movement on
now to try and prevent the “king hit”
or the “coward punch” as it is more
recently referred to - a violent
assault fuelled by alcohol.
McDonalds runs a lot of
advertisements promoting its
community work. Why? Because
junk food is constantly being
targeted by many pressure groups,
including the Australian Medical
Association (A.M.A).
However, McDonalds is investing a
lot of money in showing the general
public that they have a social
conscience.
You’ve seen the CIG advertisements
featuring clear, blue oceans and
happy, playful dolphins, but did you
know that CIG is the largest
producer of Freon, the gas used in
fridges and air conditioners? CIG is
also, reportedly, a major contributor
to the hole in the ozone layer.
And how’s this for ethical business
conduct. A multi-national diet
company based in the USA, sold its
entire mailing list of over 600,000
names to a direct mailing chocolate
company for a reported $1.5 million.
Unethical? Or is it simply good
business? We both know the answer to
that one.
So, over 600,000 unsuspecting, diet
conscious people are being invaded by
junk mail flogging off chocolates. All of
this without their permission or
knowledge.
However, there is no law presently in
existence to prevent it. … and even if
there was such a law, how many large or
multi - national firms seem to get away
with doing whatever they want.?
ADMA, the Australian industry body,
has recently prosecuted two of its own
members for unethical behaviour , but
ADMA (and any other group) is severely
restricted in their efforts to put the
“baddies” out of business because of the
limitations of the law.
Between 1 July 2013 and 31 December
2013, the ACCC received close to 3,600
complaints from small businesses. This
was an 84 per cent increase from the first
half of 2013. Enquiries from small
businesses also increased dramatically.
Franchising complaints rose slightly
from 286 in the previous period to 309
this period, while franchising enquiries
almost doubled.
ACCC Deputy Chair Dr Michael
Schaper said: “The growth in complaints
received by small businesses and
franchisees reflects the need to educate
and empower the sector.”
The Institute of Chartered Accountants
Australia argues that ethical conduct has
moved front and centre as corporations
are increasingly exposed to the glare of
public scrutiny.
In particular, there has been a
fundamental shift over the past few years
that requires a complete rethinking of
the functions of compliance,
governance and social accountability,
putting ethics into the daily vocabulary
of mainstream management.
“Australians are exposed to unethical
business practices on both the micro
and macro level, from the preference
of cheap foreign workers over long
standing Australian workers; the
selling of Australian mines to foreign
Governments; pollution cover-ups;
insider trading; to the bribing of local
Government councillors to approve
developments that are not in the
interests of the communities they
represent. All of these examples have
one thing in common; the use of
economic rationalism and little
consideration for social and cultural
impacts as having a societal value.” -
Vivian Roberts
“If you do not act with integrity … you
are not likely to enjoy the kind of
reputation that will keep good people
in your employ, or keep customers
coming back for your products or
services.” - John Ralph.
Nothing, it seems, will prevent the
shonks from preying on the
community, not even the law. The
only long-term hope we have is that
the public becomes more aware and
educated, and starts to lobby strongly
and vigorously against these predators.
Letters to the Editor
are most welcome
Please send you letters to
dennis@marketingmeansbusiness.net.au
Let’s Talk Business 5
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
BIZTIPS Dennis Chiron
Marketing Means Business 0451 184 599
www.marketingmeansbusiness.com dennis@marketingmeansbusiness.net.au
Skype: dennis.chiron2
Protect Your Business
And Your Income
How many small
business owners take the
step to insure their
greatest asset - their
ability to operate their
business and earn an income?
Most people don’t think twice about
their need to insure their car, home
or even themselves when they are
travelling overseas.
Think for a moment about how
much you earned last year. Now
total your income over the last five
years, or since you started running
your business. Quite simply, if you
were to seriously injure yourself, and
be hospitalised or off work for a
number of months, or contract a
serious long-term illness, your
business could “fold” as a result.
There are numerous insurance
policies available for the small
business owner, and if you are
interested in learning more about
appropriate coverage and policies, I
suggest that you contact a local
insurance broker who can offer you
some sound advice.
Preparing Your
Business Plan
“Not another article on
Business Plans”
Although a good business plan is
vital to the success of your business,
only about 17% of business owners
throughout Australia actually
prepare one. Why? All sorts of
reasons are usually given, from:
“It’s too difficult” to “I simply
haven’t got the time”
People often spend more time in
planning for their annual holiday than
they do in planning for the future
direction and success of their business.
So, what is a Business Plan? Simply, it is
your Business Bible; your guide to
success.
The planning process allows you to put
your ideas down on paper, and this
becomes your Action Plan. Think of it
this way: If you intend to visit an
unfamiliar city, you would use a road
map or a Sat Nav, check your current
location, work out where you wish to go
and how you are going to get there. Then
you would use your map or Sat Nav to
get you to where you wanted to go.
A Business Plan serves a very similar
purpose.
Where are you with your business now?
You need to examine your current
situation, your resources, the size of your
market, your customers and market
share, your pricing structure, and your
competition.
What objectives do you have for your
business? Where would you like to be in
2, 3, and 5 years from now? How are you
going to achieve this? What strategies
will you adopt in terms of product
development, marketing, finances, and
human resources?
A Business Plan is not a document to be
put aside for occasional reference. It
should be used as a tool to keep your
business on the right road to prosperity.
Keep checking it to ensure you are
heading in the right direction.
Building Better Relationships
The importance in building
solid relationships with
customers (both internal and external)
has been talked about “until the cows
come home”. But I wonder how many
of us really appreciate the absolute
importance of this practice. Your
business will be successful if you
devote time and energy to building
customer relationships.
The first step towards better
management in this area is to identify
and have a true appreciation of your
weaknesses (and your staff’s) when
dealing with people. The small
business operator should vigorously
look for areas where these weaknesses
stop them from developing the best
customer relationships.
Once you have identified weaknesses,
a major part of the process of
overcoming them has been achieved.
If you have difficulty in identifying
any weaknesses - or perhaps you
won’t admit it to them - ask your
customers what do they believe you
could do better to provide total
satisfaction to them.
You will be surprised how helpful
your own customers can be. Because
they value the relationship that they
have established with you, they will
want to assist you in improving your
customer service.
Pay a visit to your competition, and
evaluate what they are doing in terms
of building better relationships. What
are they doing that you are not? What
are you doing right that they are not
doing?
Customer Loyalty is an important
aspect of any business. Do it right and
you have a customer for life. Do it
wrong and they are gone forever.
Let’s Talk Business 6
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
How much time do you spend every
week attending to email? It's a question
worth answering. Although, I suspect
you won't like the answer one little bit.
I was asked recently to assist a company
to curb their chronic addiction to email
as its supreme communication medium.
Here is a sad example of typical
behaviour in this Australian-based
company.
Two Engineers working on a complex
project sat in a cubic opposite each
other. The only thing separating them
was a partition. One of the Engineers
was upset with the other over some
details in the project they were working
on together and fired off an angry
email to the other. He did this when he
could have simply got out of his chair
and had a conversation with his
colleague to share his concerns. The
other Engineer, very angry and
defensive about the email, fired off a
heated email response and copied in
the Project Manager!
Back to the solution this company
asked me to resolve.
I asked all 1, 240 employees to
anonymously complete a single simple
log for the week recording the amount
of time they 'invested' in reading,
writing and responding to email. I
collected the responses and calculated
the average time per week spend on
email. Guess how many hours of time
were devoted to this single activity for
each employee?
11.2 hrs!
Based on a standard 40 hour work
week, that amounts to 28 per cent of
the week. If we consider that while
people are attending to their emails,
they aren't devoting time to their core
tasks, we could reasonably double this
figure. Accountants refer to this as an
opportunity cost. Considering lost
opportunities, the time is really 22.4
hours per week per person.
With 1, 240 employees in this
company spending 22.4 hours of
time on email and nothing else, that
amounts to a total of 27, 776 hours
a week on email- related activity.
The average wage of a full-time
Australian workers in 2013 was
$72, 800 per year. Therefore the
average hourly rate for a 40 hour a
week employee is $35. Based on
these figures, email is costing this
company $972, 160 per year.
I have no doubt that much of this
time was well spent.
But let's assume that we could half
that figure with better email
protocol, that would save $486, 080
a year.
What does it cost you each year in
your organisation to use email?
This is an extract from Tim
Baker's newly released book - The End
of the Performance Review: A New
Approach to Appraising Employee
Performance.
Dr Tim Baker is an international
consultant who helps managers develop
productive workplace cultures. Tim
can be contacted at
tim@winnersatwork.com.au or go
to www.winnersatwork.com.au or
follow Tim on
Twitter @winnersatwork.
(www.winnersatwork.com.au).
Dr Tim Baker
Managing Director
WINNERS AT WORK Pty Ltd
www.winnersatwork.com.au
www.about.me/tim.baker
Telephone. +61 7 3899 8881
Editor’s Note:
Dr. Tim Baker is an international consultant, successful author, keynote speaker, master trainer, executive coach, university lecturer and skilful facilitator.
In a nutshell, he has conducted over 2,430 seminars, workshops and keynote addresses to over 45,000 people in 11 countries across 21 industry groups.
"“Dr Baker leads the world in offering an
innovative new approach to appraising
employee performance. His research and
energy in the specialised field of
performance management is evidenced
by his international profile as a
renowned speaker, management
consultant and facilitator". Stephen
Hartley, Australia’s leading expert on
project management and author of
"Project Management: Principles,
Processes and Practices.
The Tyranny
of Email
Let’s Talk Business 7
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
Time management is critical to
business and personal success. Why is
it that some people achieve so much in
their day, and others seem to get
virtually nothing done despite
appearing to be very busy?
Every day you expect to get everything
done but halfway through the day you
find yourself checking your email for
the umpteenth time, looking at cat
pictures on Facebook, and trying to
tune out your co-worker’s loud
conversations. You start the day with
great intentions but did your
productivity live up to your aspirations?
Distraction is the primary killer of
productivity. According to studies,
workers are interrupted by distractions
roughly every three minutes. It can
then take over twenty minutes to get
back to the task at hand -- and the
things you think are helping your
productivity might be having the
opposite effect.
Here are some tips that might help
overcome some of these issues:
Focus on you. Set aside quiet time in
the mornings by showing up early and
doing some planning, the quiet
atmosphere will really help you focus.
With less distraction you can focus on
what matters and breeze through your
most challenging projects. Don’t be
afraid to shut your office door for a
little peace and quiet. This allows you
to centre yourself and focus more
fully on work.
Stop multitasking. You can either
get one task done well or a bunch of
tasks done poorly. Today we’re
living in a multi-screen world and
have become multitasking addicts. A
study showed 66 percent of people
use smart phones and computers
simultaneously, while 90 percent use
electronic devices sequentially
throughout the day. Every time you
stop a task to quickly check Twitter
or answer a text you’re breaking your
concentration. Put them on silent and
give your full attention to your work
for more productive results.
Kick your email addiction. Are you
really getting anything done if you
stop your work every time another
email pops up in your inbox?
Schedule specific times during your
day to check your inbox and only
check it then. Your phone still works,
so don’t worry about missing out on
something important.
Follow the 80/20 rule. Twenty
percent of what you do produces 80
percent of the results. Cut the
extraneous from your to-do list in
order to get the most out of your
efforts. If your list is too long odds
are you won’t get much done. Make it
manageable and put the most essential
tasks at the top. Focus your full
attention on the top 20 percent of your
work that will produce results.
Make tough choices. If you know
you’re a sucker for Twitter, it’s time to
say goodbye - at least temporarily.
Shut out distractions by being tough
with yourself. You know your
weaknesses - whether it’s messaging
with friends or looking at baby
animals. You’re the only one who can
manage distractions during your
workday.
Skip social media and pick up the
phone. Sometimes the quickest route
to information is to just pick up the
phone. Typical employees send about
43 emails per day and receive a
whopping 130 messages. Instead of
wading through a never-ending deluge
of emails, picking up the phone can
sometimes be a faster and more
personal way of getting the
information you need. Not only will
you be building connections with your
co-workers, you’ll be cutting down on
your inbox.
It can feel impossible to cut out
distractions and get back on track but
productivity is right around the corner.
Just learn how to say goodbye to
distractions and get focused.
Geoff Butler FAIM AP, MAITD
MACE
Principal/Business Improvement & Implementation Specialist
Business Optimizers
Mobile: 0414 943072
Fax: 3036 6131
Email: geoff@businessoptimizers.com.au
Skype: business.optimizers1
Six Ways To
Fight Distractions
Let’s Talk Business 8
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
I spent an intensive ½ day with one
of my millionaire Clients last week.
After our meeting I offered to drive
him over to another of his business
sites. On the way back to my office I
took a moment to think about how he
and my other successfully wealthy
Clients are different to my not so
wealthy Clients.
Here’s what I came up with …
They’re not big users of
Facebook, Twitter, Pinterest and
other social media tools. They
have people manage those tools
for them (very well), but are not
into it themselves.
They’re prolific uses of the
phone, as are their friends. Their
phones are almost constantly
ringing. They use emails to help
lead into conversations on the
phone (which lead to business),
to transfer information and to
have documented records.
They spend their lives ‘solving
problems’. Nearly every word
out of their mouths revolve
around identifying, solving or
reflecting on the solving of a
problem of some kind. Problems
with tenants, staff, sales,
marketing, cashflow, supply,
product quality, efficiency, etc.
The number one difference!?
They are PRODUCTIVE! They
generally hate (and I know that’s
a strong word) wasting time on
fluff, crap and maybe’s. They
mean what they say and get
things done. If they need more
sales, they go and get them.
Full stop!
Lastly, they love leveraging by
using experts in their field.
They don’t see it as a cost if
the expert gets them the results
they want.
My millionaire Clients are also
passionate! They generally love
what they do. They’re products and
services are an extension of them.
They’re busy people, but they don’t
see it as work. If they didn’t work
in/on their business, they would be
busy doing something else.
They are also forward thinkers,
community aware and family
conscious. Some of my Clients
could comfortably (very
comfortably) retire and live off
their current income streams.
However many of them are driven
by the idea of leaving a legacy and
an ongoing opportunity for their
family, employees and even their
suppliers & customers.
My ‘not so financially successful’
Clients have some commonalities
as well …
They often get distracted by
bright and shiny objects, new
ways of doing things and
promises from other people
who are not successful.
They don’t know how to
accurately measure where they
are in terms of what results
they’re aiming to get, what
they’re progress is to achieving
results and how to get back on
track quickly without losing
momentum.
They use their time to save
money, rather than use money to
save time. They see spending
money as a risk because they
often don’t have past experience
to learn what to spend money on.
They sometimes get distracted
from the ‘learning experiences’
on their journey to getting the
results they want.
I asked some of my successful Clients
what their suggestion to those who
would like to be successful. They’re
answers were surprisingly similar.
“Learn to be the leader of a smart
Team. If you’re the smartest person in
your business, you’re probably doing
things harder than you need to be”.
I hope these ideas help you to either
identify why you may be achieving
your goals, or not. Mention this article
for your copy of the Profit Mechanics
Sales & Marketing Diagnostic
Questionnaire along with a 30 minute
phone chat to help guide you through
the tool and apply your business
objectives to it.
Remember … Business is More Fun,
When There’s Profit!
Dan Buzer
Profit Mechanics
Business Mentor
Dan Buzer Profit Mechanics
0414 567 188 www.profitmechanics.net/ dan@profitmechanics.net
“… How My Millionaire Clients Are Different
to My ‘Want’ To Be Millionaire Clients? …”
Let’s Talk Business 9
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
Jo-Anne Chaplin
Tax & Superannuation Professionals Pty Ltd
PH 07 3410 8116 / Mobile 0457 960 566
Email : taxandsuperprofessionals@gmail.com
Web: www.taxandsuperprofessionals.com.au
I am a qualified Accountant and will celebrate my 20th anniversary as a
Registered Tax Agent this year. During my time in Public Practice I have
assisted clients to achieve business growth and prosperity. My earlier career
included positions in banking, manufacturing, construction and retail. My
particular interest is in promoting a culture of using local industries and
business in order to build a strong community.
Do You Owe
The Taxman?
The ATO are currently owed $18
billion in unpaid tax liabilities. As
much as $10.6 billion of this amount
is reportedly owed by small business.
If you have an outstanding tax
liability which you are having
difficulty meeting, then the best
course of action is to speak to your
Accountant as soon as possible.
I suggest this for two reasons:
1. Your Accountant can check that
the liability is actually correct.
They can also then advise on the
various strategies which may be
available to address the problem.
For instance, varying future
PAYG instalments to reflect your
current income level, organising a
refund of overpaid PAYG
instalments, lodging outstanding
income tax return/s, or check
BAS statements to confirm they
have been correctly calculated.
2. They can liaise with the ATO on
your behalf. Tax agents have
specialised access to tax office
staff, so if your situation is a
complex one, it is best handled by
someone with experience in
dealing with the tax office.
If you prefer to handle these matters
personally, then be sure to approach
the ATO before the due date to
request an extension of time to pay.
These approaches are usually met
with a positive response. However
there are conditions:
All Repayments agreed to must
be paid on time.
All future liabilities &
lodgements must be completed,
lodged and paid on time
A general interest charge will be
imposed on the debt
Future requests for a repayment
plan may not be approved.
One more tip: always lodge BAS or
tax returns forms by the due date,
even if you are unable to pay the
liability. Late lodgement of these
forms will attract significant late
lodgement penalties.
We have found the tax office very
unwilling to remit a late lodgement
penalty without a really good reason
The best way to stay on top of GST &
tax liabilities is to account for them
periodically.
Use your cash inflow cycles to set
aside some cash in a separate bank
account specifically for this expense.
Depending on your type of business,
amounts between 5% - 10% of the
cash collected should be sufficient.
For example if your business is in
retail, where you are buying goods for
resale, then you will be paying GST
on those goods which can be claimed
against the GST that you are
collecting from sales. Hence, a
smaller percentage of turnover can be
set aside. If you business is mainly for
the provision of services, then you
will not be paying significant amounts
in GST on your expenses. Accordingly,
a higher percentage should be kept
aside.
The major benefit of doing this is that
you won't have a large cash outlay to
meet at a time when cash might be
short as the accumulated balance will
either be sufficient, or close to the
funds required to meet the tax liability.
This is known as cash-flow smoothing
as it recognises the GST expense at the
time of collection, rather than as one
lump sum from your sales once per
month, quarter, or annually.
Of course, any surplus funds are a
bonus saving.
A useful strategy to adopt is to move
from a quarterly BAS to a monthly
BAS cycle.
For some businesses the smaller
monthly payments are usually easier to
manage than the quarterly payment.
Particularly if cash flow is irregular.
In summary, if you have an outstanding
tax liability, its best to address the issue
promptly. In my experience the ATO
have been reasonable toward those
taxpayers who are genuine in their
requests for assistance.
Let’s Talk Business 10
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
The ownership of a domain name
(website address) can easily be
overlooked. You know, you pay
your bill, your website works,
everything is hunky dory right?
WRONG. Between the multitude of
scams or businesses being sold and
bought…we are seeing a massive
increase in this. It is imperative that
you check who LEGALLY owns
your domain name.
Common Domain Name Scams
Back in 2010, the US Federal Trade
Commission stopped a group who
reportedly made $4,261,876US from
email scams targeting domain name
registrants (www.netregistry.com.au).
This alarming trend continues in
Australia.
Your domain name information is
publicly available. This makes it
easy to create unsolicited
correspondence.
There a number of domain name
scams that even the most diligent of
business owners still fall for… It is
the “Official Looking” emailed or
posted “invoice-like” document
requesting to renew an existing
domain by transferring to a new
supplier. Of course any business
owner or employee is fearful of
losing their presence online. Imagine
your website being temporarily (or
even permanently) “switched off”.
It is easy to protect yourself
1. Keep in touch with the company
who supplies your domain.
TELL YOUR OFFICE STAFF
THIS to ensure they get it right
also.
2. Keep a note of when your
domain is due for renewal.
(.com = yearly / .com.au =
every 2 years). This can help
prevent you paying a SCAM
invoice as well as help you
manage your budget.
3. Read all invoices and emails
carefully – if in doubt, talk to
your web designer.
4. If you want to change your
domain provider – compare the
price. A lot of these scammers
charge a premium and often
don’t even register your
domain. Remember, it is a
SCAM.
HERE ARE SOME OTHER
SCAMS!
Invoices for a web address that
you don’t even own. e.g: You
may own the .com.au version
but they are invoicing you for
the .com version.
Invoices where the domain
spelling is slightly different to
yours.
Offer of a free gift, like an ipod
shuffle, with your domain
name purchase / renewal.
WARNING: Rip off and good
luck getting your free ipod.
Bought or Sold a business?
Another way to lose sight of who
actually OWNS your domain is
when a business is sold.
Your first step is to visit
whois.domaintools.com, type in
your website address and check the
registration details. You must ensure
that this website address belongs to
the current owners, especially if this
is you. Your name, business name
and ABN should appear here.
If not, you are not legally the owner
of this domain name.
Having said this, it is usually pretty
easy to rectify. 9 times out of 10, it is
simply a matter of contacting the
previous owners, completing a form
(paper or online) and paying an
“ownership transfer” fee. This fee
can be anywhere between $80 and
$200, depending on the supplier of
the domain name. If you are the new
owners, check the Contract to see
who is financially responsible for
covering this fee…OR…just bite the
bullet, pay it yourself and get it
sorted. The last thing you want is the
old owners of the business seeing
how successful you have become
then deciding to enforce their
LEGAL right to sell/rent you the
domain name for a lot more than it’s
worth.
Speak with the company who
registered the domain or your own
web designer/supplier. Get them to
‘broker’ this transfer for you. This
can sometimes help where the
relationship between the previous
owners and the new, is not
harmonious.
A few minutes to check your records
and/or to speak to your web designer
can save you money AND even your
website.
For further information contact Web
-Sta Affordable Web Design.
Do You Own Your Domain Name?
Karen Ahl Bac. Bus (Mark, Man), TAE40110,
Cert IV IT Caboolture, Queensland
Ph 0415 142 178
www.web-sta.com.au info@web-sta.com.au
Let’s Talk Business 11
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
Peter Nicol
Wisdom Marketing & Management Services
0417627097
www.wisdommarketing.com.au
manager@wisdommarketing.com.au
STOP INTERFERING!
Whilst I have made my living of recent
years as a marketing person I still
demand that we test the idea in the
market by going out on the road and
seeing how it works with the
customers.
This takes me back to the 70’s when I
was a sales rep and was one of the tree
people. Tree people are the reps who
would grab a sandwich and eat it under
a tree to cool off.
No air conditioners or Maccas in those
days! Life in sales can be full of ups
and downs and we are judged on one
criterion only HOW MUCH DO YOU
MAKE. They were great days.
Good sales people are really hard to
find and when you do you have to put
up with their foibles.
No I am not saying long lunches or
short working hours are acceptable. I
am saying that if a sales person is not
so good on the paperwork then just
maybe you have to suck hard and put
up with it if the numbers are there.
So next time you feel you have an
issue make sure you have had a good
look at their results before you haul
them over the coals.
The other thing I have seen all too
often is the need for many people in
the office to want to control the sales
people.
They whinge and complain about the
fact that they are never there.
Duhh, they are supposed to be out and
about you know! If you have good
measuring systems and the results are
forthcoming I would suggest you get
them to temper their passion and take a
cold shower.
The next sure fire way of making sure
they do not make target is to have
meetings with them. Now this makes
those in the office feel very important
and as the person is important the sales
people turn up, drink lots of your
coffee leave, then ask themselves what
it was all about.
Less calls are made that day and then
you wonder why you had a bad week.
Sure one meeting a week is fine but
several is simply stupid and must be
stopped.
Set an agenda and get on with it. I
have seen in my lifetime in sales and
marketing people in offices hell bent
on simply wanting to control sales
people. Yup, I am gunna bring these
people who are often different into
line.
Make them conform; make them
understand the world is about control.
Usually it does not work; the sales
people become dispirited and
leave. Guess I showed them!
Have good measurements of
performance in place. Good
Position Descriptions.
Identifiable and easily understood
targets and last by no means least a
commission scheme. The number
of employers who I have met who
would rather slit their wrists than
pay a commission is large. No, it is
not meant to be a bonus for doing
nothing it is a way of getting
exceptional performance out of
people who are at the coalface and
it usually works out cheaper.
I am currently working on a
commission scheme for a
customer.
It will take time but the team is
worth it.
So leave them to it. Keep control
but do it with balance. Go out on
the road with them. The things you
will learn are incredible, not only
about them but from customers as
well.
That is not interfering it is good
management and that is what it is
all about. Bring out the greatness
in your team. If they like you and
you are fair and you know your
craft and can lead then do just that
and good things follow.
Cheers Peter
Let’s Talk Business 12
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
On the other end of the scale, a
catastrophe or disaster, such as a
major fire or explosion, flood or
earthquake may disrupt work. These
events require major disaster planning
and may involve the co-ordination of
emergency* services over an entire
geographical area.
A "disruptive incident" is somewhere
in the middle of these: serious enough
to disrupt work to the extent that
management plans have to be
activated to restore order and serious
enough to have long term effects on
the workers if not managed properly.
There may also be property damage
as a result of the incident.
Disruptive incidents do not include
incidents which occur as a normal and
expected aspect of the work, for
example, the type of incident
regularly dealt with by emergency
rescue workers, road accident police
and domestic violence workers. These
categories require a different level of
management because there is an
emotional and potentially traumatic
element inherent in the work.
Aggression towards people at the
workplace
Example: from customers who are
dissatisfied with a product or service,
Death or serious injury that
involves people at the workplace
This would include a fatal or serious
accident at the workplace, the sudden
death or injury of a fellow worker or
person well known to the workforce
(for example: the death of a work
colleague in a road accident outside
of work) or a suicide by a person on
Ron Court,
AMC Dip (Funerals) MQJA JP
OH&S Advisor
0419 679 619 roncourt@aapt.net.au
DISRUPTIVE INCIDENTS
IN THE WORKPLACE
work premises.
The announcement of
retrenchments or organisational
restructuring
These may be disruptive if they are
sudden or more widespread than
expected.
The cost of disruptive incidents
Disruptive incidents are by their very
nature a cost to organisations
because they disrupt normal work
processes. In some cases work may
cease altogether for a period of time.
The impact of disruptive incidents
on workers can also cost
organisations in terms of reduced
morale, impaired performance,
absenteeism, sick leave and staff
turnover.
Communication systems
Effective communication systems
are especially important for people
who work alone.
Provide adequate resources
Employers should provide the
resources needed to manage
disruptive incidents from the
planning process all the way through
to the completion of the recovery
phase.
You can get information about your
OH&S obligations and other
valuable OH&S resources both in
hard copy and online from their
websites. http://www.deir.qld.gov.au
Always seek independent legal
advice on what is applicable to your
situation.
What is a disruptive incident?
Any incident that disrupts the normal
work processes and has an emotional
or traumatic effect on employees at a
workplace (It does not include
disasters or catastrophes, such as
major fires, explosions, floods or
earthquakes).
Disruptive incidents are likely to
occur in a variety of workplaces and
workplace safety and health planning
should take these events into
account.
Various forms of violence, personal
threats or other situations that are
unexpected and distressing can result
in lost production for the workplace
and long term emotional or
psychological reactions in workers
who are affected by them.
The approach recommended is to
identify potentially hazardous
situations, assess risks and
implement risk control measures to
eliminate or minimise the impact of
disruptive incidents.
Key risk control principles are
presented within the framework of
the hierarchy of controls.
To be effective, the management of
disruptive incidents should be an
integral part of the workplace's
emergency management system.
Disruption may occur on a small
scale, perhaps when an individual
has suffered some personal trauma
and that trauma has a detrimental
effect on the person's work, usually
dealt with by individual referral to
appropriate assistance.
Let’s Talk Business 13
Web: www.marketingmeansbusiness.com Email: dennis@marketingmeansbusiness.net.au Mobile: 0451 184 599
We are living longer!
It is not unreasonable to think that most
of us are likely to live to our nineties
on average. Indeed, for couples
reaching age 65 years, there is a 50%
chance that at least one of them will
live to age 98.
Many of us are becoming more health
conscious too. This is great because
more of us will lead healthy active
lives as we age.
This longevity is something we must
consider in our working lives because
whilst we might work for 45 years, we
are likely to spend 25 years or longer,
in retirement. However, chances are
that in the next quarter century, we
could well live longer still, on average.
We also know that the ‘Baby
Boomers’, the high number of babies
born in the post WW2 period, are
beginning to retire. Further, we know
that this places a disproportionate
demand on government resources to
fund pensions for this increasing group
of retirees – so, what should we do
about this, as a nation?
The Solution
In the early 1990’s the federal
government recognised that there was a
potential problem so they legislated
that employers pay 9% superannuation
for all employees. Recently, this has
been increases to 9.25%. Some
employers like local and state
government employers pay more as
part of their employment contract.
But there’s a Problem
Baby Boomers have not had
enough time to contribute and not
enough time for compounding to
increase their super. Some 85% of
people will retire with an income
of less than $500 pw and most will
retire with less than $500 per
month.
The Response
Governments have put an array of
assistances in place for people to
take advantage of in order to
provide for their retirements. There
are strategies ranging from Self
Managed Superannuation Funds
(SMSF) to Transition to
Retirement (TTR) strategies.
These all sound too complex and
too hard don’t they?
So what do we think? I know, my
business is my super, right?
O.K., allow me to ask, what if your
business goes under? What if
something happens to you and you
can’t run your business? What if
the world changes and your
business is no longer applicable?
What if you can’t sell your
business or can’t get the price you
hoped for?
The answer is: You won’t have
enough and will be ill prepared for
retirement.
However, what if you looked and
Paul GILLMORE DFS
Founder and Director
Southern Cross Financial Services
07 5429 5561
0402 685 032
paul@sc-fs.com.au
said “My business is an income producing
saleable asset” and “My business
contributes to my retirement” ?
Then:
You would have separate money set
aside for later
This money would be Asset Protected
Your business could go under and you
would still have your retirement
savings
This could be available to you in
extreme financial hardship
You could save on tax and keep the
money for yourself
You could use it as a tax planning tool
You could invest it in a way best
suited to you (within the regulations)
You could have total control of your
retirement savings
You could have cost effective and tax
effective personal risk cover in place
You could use leverage within your
super
Your super can be protected from
market downturns ensuring that will be
there for you
It can assist in managing capital gains
tax (CGT) when selling your business
I could certainly go on but hopefully you
get the picture so what to do?
Engage Warp drive, Mr Scott !
To all business owners and employees
alike I say, ENGAGE with your super.
Take the advantages and take control,
NOW ! They are there for the taking.
But how ?
Contact an independent advisor for a
complimentary chat on what could be done
for you so you can . . .
Live Long and Prosper.
Live Long and Prosper!
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