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HAPPY CHRISTMAS!
Another year almost over – have you reached your goals set at the beginning of the year? We certainly hope many of you have and are smiling at the thought of a holiday break and fun with friends and family during the festive season. ......... read more
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SELLING? JUST ASK FOR THE ORDER
When it comes to sales, your customers quite literally have all the answers. When it comes to increasing sales, many businesses look to their marketing to bring in more leads. What is often overlooked though is they may very well have enough leads, but their sales process is not converting enough of these leads into paying customers i.e. sales. ......... read more
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STOP PROCRASTINATING NOW!
It seems that no one is immune to the tendency to procrastinate. When someone asked Ernest Hemingway how to write a novel, his response was "First you defrost the refrigerator." But putting off tasks takes a big hit on our productivity, and psyche. Procrastination is not inevitable. Figuring out why you postpone work and then taking concrete steps to prevent it will help you get more done and feel good about yourself. ......... read more
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"THE GFC" AND YOUR BUSINESS...
There has been a lot of talk about the GFC and a double dip recession and as this is a situation which has never occurred previously where countries are at risk of “going broke”. ......... read more
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BUSINESS PROPHETS - WINTER 2011
Winter has set in with blizzards blowing a gale outside. Australians are waiting for the latest news on the carbon tax and business owners are wondering where this is going to take their business and its profits in the future. ......... read more
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BUSINESS GROWTH USING NETWORKING
As a general principle networking via one of the many networking groups is a slow paced way to grow a business. Much depends upon the dynamics of the group, the type of business you have and whether you have a natural business synergy with others in the group.
There are a number of professional networking groups meeting weekly/fortnightly where you pay an annual fee for membership… ......... read more
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TO "SOCIAL MEDIA" YOUR BUSINESS OR NOT?
This article has been prepared by Matthew Craig of MindArc Digital Agency who has set up the YBM business facebook page. We are very aware of the need to understand and “test and measure” the benefits of this medium of marketing so that’s why we have taken the step into yet another segment of internet communication. ......... read more
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GET IT RIGHT THE FIRST TIME
How often are you disappointed when something you’ve asked someone else to do isn’t done the way you wanted? How much time is wasted in your organisation on rework – redoing tasks that were not completed correctly the first time?
Think about this - how often do you misinterpret what someone else is asking for? ......... read more
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DEALING WITH "DIFFICULT PEOPLE"
How many times have you heard a business colleague say in jest “life would be so much easier if it wasn’t for customers/staff”? Don’t laugh, the larger your business the greater demand on your time when dealing with staff and customers. Figures as high as 80% of effective time have been quoted by some! So what is the solution? ......... read more
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BUSINESS PROPHETS MARCH, 2011
Here we are, on the downhill run to the end of the financial year. Do you know, or have an estimate as to just how much company tax you are likely to have to pay this year? Have you been tracking your cash flow regularly? If not, NOW is the time to take stock, get your records up-to-date and talk to your accountant about the strategies you need to implement prior to 30 June. ......... read more
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FINDING YOUR " EASY" BUTTON
You wish for an "Easy" button to operate your business effectively?
There is an easy button available for your business – “Easy” is spelt
S – Y – S – T – E – M - S
So no matter what you try in your business you find the business is just so dependent on you that you just can’t seem to get away for a break? To have a button that you pressed and your business would take care of itself? – Bliss! ......... read more
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STAFF ASSESSMENT PROGRAMS
Staff assessment programs; if properly implemented and administered; should be an important part of any business owners’ strategies and systems. Self-assessment programs can be coupled with incentive programs which in turn enable both the employee and employer to understand the objectives and goals of each party and tend to breed a strong team culture. ......... read more
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MENTORING IN YOUR BUSINESS
Mentoring is vital in planning for business growth. It outlines and prepares analysis, inquiry and resolution to finish tasks and improvise ways on how to achieve goals. It acknowledges the importance of team work in carrying out tasks and stresses the significance of mutual understanding and cooperation among members of the team. To achieve better results, coaching must be done from the bottom of the organizational chart to the top-level. ......... read more
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IS A SELF-MANAGED SUPER FUND THE RIGHT FUND FOR ME?
When you consider the growth and size of the Self Managed Superannuation Fund (SMSF) sector in Australia you come to the realisation that more and more Australians are taking the management of their superannuation assets into their own hands. Out of the $1.23 trillion total superannuation assets in Australia, approximately $390 billion is managed within SMSFs making them the largest and fastest growing superannuation sector by both number of funds and asset size. There are currently more than 430,000 self managed super funds in Australia. ......... read more
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YBM Mentor Nov 2010 Message
It’s almost Christmas and half way through the financial year. Are you meeting your 2010-2011 business goals? If you are, congratulations! If the going is tough and you are getting frustrated, maybe you need a little help along the way and that is available if you are really motivated from within. ......... read more
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TIPS FOR INSURING YOUR BUSINESS
Business owners invest a great deal of time and their personal money into starting and running their business. In numerous cases the resulting business asset becomes an owner’s superannuation when they retire.
......... read more
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BUSINESS MENTORS - You pay for what you get!
Small business mentoring is a hot business. Mentors have literally popped out of the woodwork over the past decade.
There is evidence that a top quality business mentors can be a tremendous asset to your business. In a few words they can help you bridge the gap from where you are today to where you want to go. ......... read more
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EIGHT STEPS TO ATTRACTING CLIENTS
There’s a logical sequence to building a business. By committing to follow these eight steps, you can attract more clients and have the kind of income you want. ......... read more
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VDUs AND VISION
One of the most significant changes to modern office procedures has been the introduction of the computers and the visual display unit. They have brought important benefits to business and industry. However, along with the benefits there have been some problems. Eye strain and vision problems are among the most frequent complains.
......... read more
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KEY PERFORMANCE INDICATORS FOR SMALL BUSINESS
Businesses are like motor vehicles on Australian roads. The speedometer and the fuel gauge are not only for the expensive Ferraris or the big Volvo trucks. All vehicles need to know at what speed they are travelling or when to refuel, because the day the vehicle runs out of petrol, it’s too late! A recent article in the Australian Financial Review explained that the three main reasons for small business failures were: poor financial management (28% of failures), poor accounting (16%) and lack of management experience (15%). ......... read more
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FAIR WORK WEBSITE MAKES NEW IR LAWS SIMPLER FOR SMALL BUSINESS
Australia’s small businesses can now access a complete range of free webinars about the Fair Work Act, designed to help them better understand their rights when it comes to employing staff.
The Fair Work for Small Business website features a full suite of modules on a variety of topics, allowing small businesses to watch 30-minute webinars on Fair Work information, or get a quick summary with the two-minute quick guides. ......... read more
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SME Stress Levels
Does this apply to you – it need not! Stress levels for many business owners have climbed during the past year, with the impact thought to be particularly hard on smaller, family-owned businesses. An international survey carried out by a world wide firm of Accountants found of 7400 business owners across 36 economies found that a large percentage in Australia and New Zealand (thought to be as high as 65 + %) business owners said their stress levels had increased from a year ago, compared with a global average of 56 %. ......... read more
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TEN KEY POINTS OF INTEREST WHEN NEGOTIATING
Business relationships generally develop from mutual need. Each party has something the other party needs. Often these needs are met through negotiation. If the parties wish to sustain a long term business relationship, it is important that they achieve mutually acceptable outcomes in these negotiations. ......... read more
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GOVERNMENT TO STRENGTHEN FRANCHISING CODE OF CONDUCT
In further measures to promote competition, the Government will strengthen the Franchising Code of Conduct and the unconscionable conduct provisions of the Trade Practices Act, to give small businesses greater protection from anti-competitive behaviour by more powerful businesses ......... read more
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EMPLOYMENT OF IMMIGRANTS
Occasionally YBM has a client who has employed a staff member whose immigration status is not in order. These people need to be advised of the implications of employing someone who does not have the appropriate immigration papers. A migration specialist colleague has put together this brief note as a guide to what those ramifications are and the options available . ......... read more
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WORK ON YOUR BUSINESS
If you want to sell your business in five years time for $5 million, what's one of the assets your prospective buyers will be looking for? Your systems and procedures manual of course! How can you expect anyone to want to buy a business that has been run for years by the knowledge you have accumulated in your head over your business lifetime? ......... read more
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THE HAPPINESS-CENTRED BUSINESS
Customers enjoy buying from businesses where the team members are happy. Happy team members tend to be more productive and have a long term commitment to their occupation. Most people in business think that their customers buy their product because it is better or cheaper, but stop and think about your own experiences - grumpy, unsmiling people are not fun. It's those who are happy, get pleasure out of assisting you in every way who will win you over every time! ......... read more
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STAFF ASSESSMENT & INCENTIVE BONUSES
Staff assessment programs if properly implemented and administered are an important part of any business owners’ strategies and systems. Self-assessment programs, coupled with incentive programs will enable both the employee and employer to understand the objectives and goals of each party tend to breed a strong team culture. One of the most common complaints which comes up in job satisfaction surveys is the employee never gets useful feedback on how they are going with their job. ......... read more
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ACCOUNTS RECEIVABLE
Unless your business is a cash business e.g. a coffee shop, the collection of money is always going to be an issue. By not collecting the money you are owed your exposure in difficult business times to bad debt is considerably higher than in “good times”. There are some simple things, if implemented, which will make the collection of money easier. ......... read more
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STARTING A NEW BUSINESS?
It is imperative to professionally market research your business idea or plan before investing any money or time into starting a business. Too many business owners think that they know the market because it’s an industry they have spent ten years working in already. Unfortunately, they were an employee and not a business owner during that time and three out of four will be forced to close the business within three years ......... read more
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COPYRIGHT & TRADEMARKING
Now, more than ever, the importance of protecting your intellectual property, information technology and trademark has never been so important in Australia. All too often, there have been cases where simple advice from an intellectual property lawyer or copyright attorney could have avoided an expensive, time-consuming litigation process ......... read more
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CASHFLOW IS CRITICAL
Managing your cash flow is just as important as your business’s ability to deliver its goods and services to customers. Think about it - if you fail to satisfy a customer and lose that customer’s business, you can always work harder to please the next customer. However, if you fail to have enough cash to pay your suppliers, creditors, or your employees, you’re out of business!
......... read more
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NETWORKING A NECESSITY!
Effective business networking is a vital component of a small business owner’s life. A referral has far more impact than any business directory or yellow pages. Consider – how many times have you responded positively to a personal, positive referral?
......... read more
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