Flying Solo

WorkSmart: When freebies compromise success

2012-05-28T07:30:00+10:00

Sadly I've seen people in business - who've spent months, even years, perfecting their policies and procedures and are ready to go - instantly sabotage their success by giving too much stuff away.

This series of Work Smart articles by Robert Gerrish is proudly brought to you by Visa.

More small businesses go forward with Visa. Visit www.visagobiz.com.au

In the normal course of events, there’s nothing wrong with giving stuff away. Quite the reverse. Being generous is extremely good for winning new business, but it needs to be part of a strategy. Knee-jerk giving is not a strategy.

In business, the giving trap can manifest in a number of ways, many of them seemingly harmless.

Time generosity is the most common giving trap for independent professionals. If you charge for your expertise by the hour, it follows that every hour has a value. Your potential client or customer needs to be under no illusion that this is how you work.

Dedicating time to the pursuit of winning new business is, of course, fine and often very necessary. But you need to keep a handle on it. Your clients must know what you’re doing, why you’re doing it and how far you’ll go.

From time to time you’ll be pushed or gently nudged to go further and it’s your response to this that can see you enter the trap. The moment you go further - without at least clearly flagging it - you risk devaluing your services.

Good, strategic giving is when you add value without being asked. The giving trap is when you discount your services or weaken the perception of your value by going too far.

More small businesses go forward with Visa. Visit www.visagobiz.com.au

Here are two scenarios to consider:

Scenario 1:

You give a free one-hour consultation as part of your new business development strategy. You’re so keen to hook a client that you let one-hour turn into 90 minutes. You say nothing.

Scenario 2:

You give a free one-hour consultation as part of your new business development strategy. At around 50 minutes you realise it’s likely to run over the hour. Assuming you’ve decided it’s beneficial to continue, you pause, make clear you are about to complete the hour and then offer your client an extension of 30 minutes. You take the opportunity to fully explain your motivation for this action.

Spot the difference? In the first scenario you’re signaling a lack of respect for your time AND creating a potentially damaging precedent in the eyes of a potential client.

In the second scenario, you’re highlighting the value of your time AND adding value by giving more of it.

From which position would you most like to begin a new business relationship?

Podcast: David Allen on getting things done

2012-05-27T07:00:00+10:00

David Allen, famous for his ground-breaking work-life management system, Getting Things Done, talks to Tim Reid and Luke Moulton about how you can be buried in projects yet have nothing on your mind!

In particular, David Allen discusses:

how Getting Things Done, the famous productivity methodology came to be.
solutions for transforming overwhelm and uncertainty into an integrated system of stress-free productivity.
how getting stuff out of your head and onto paper can set you free.
how we can be buried in projects but amazingly have nothing on our mind.
how to go from overwhelm and uncertainty to being ready for anything.
PLUS David shares with us some of the marketing behind Getting Things Done, and how the writing of one book turned in to a global phenomenon.

Also, this is Luke Moulton's last episode of the Small Business Big Marketing podcast so Tim Reid wishes him farewell (if you missed the announcement, listen here).

About these podcasts: The Small Business, Big Marketing podcasts are characterised by plenty of banter between the hosts Tim and Luke who’ll typically kick off with nuggets of advice and tell shaggy dog stories as they warm up to the episode's topic. Sit back, relax and enjoy! And share your feedback below.

Duration: 1:03 minutes

Links to resources mentioned in the show: smallbusinessbigmarketing.com/david-allen-getting-things-done

To subscribe to this show in iTunes, please head here.

How to launch your business for under $1000

2012-05-26T07:00:00+10:00

Is it possible to brand, market and launch your new business for under a grand? I did it – and so can you – in ten easy steps.

Many soloists feel they need to have significant funds available in order to get their business started. While every cent helps, it can be done on a shoestring. Once you’re up and running, you can build on improving your branding and marketing where necessary. But for starters, here’s how it’s done.

Register your business name to ensure that no-one else can operate under that name. In Australia this costs less than $200.
Register your domain name and set up web hosting (about $100 per year). This will enable you to set up emails at your business domain and host a website at your business domain address. This looks far more professional than a third-party email or website provider.
Decide on your brand image and obtain an effective logo. You could pay thousands of dollars for logo design work; however, there are some companies online that can provide you with a professional, customised logo design suited to your brand for as little as $49. Beware of “free” offers, as you may not get the quality you want.
Set up a website. The best low-cost solution is WordPress, a free website content management system that allows you to update website content. This will save you hundreds, if not thousands, of dollars. It is advisable to purchase a premium website theme from a third-party company with built in functionality that can then be customised to suit your branding ($20-40).
Purchase website maintenance training. A professional-looking website is critical for an online business’s success so I highly recommend investing in an online training program (for WordPress, about $200) that covers everything from the basics to using recommended plug-ins and widgets, as well as search engine optimisation (SEO) techniques.
For a professional look, purchase high-resolution images. Source these from a stock photography website (about $1 per image). These can be used on your website and any other print and graphic design projects, so long as credit is given.
Design and purchase business cards consistent with your branding. There are numerous online companies that offer business cards for a minimal cost (about $30). Having your contact details on hand is important for networking and marketing your business in the early stages.
Set up social media accounts under your business name with Facebook and Twitter and consider extending this to LinkedIn and Google+. Ensure that your branding is consistent across all of these social media platforms and connect with other companies that have a similar audience. Invite your personal and professional networks to connect with your business via these platforms and ask them to recommend to their networks where relevant.
Set up a blog. Write concise, relevant and informative articles to your target audience and issue this on a consistent basis (weekly or monthly). Repurpose these documents and submit to other websites or blogs that serve a similar audience, and to content websites such as Ezinearticles. By having other websites link back to yours, you will get significantly better results in Google searches and drive traffic to your site.
Consider some cost-per-click advertising and set a low budget ($25 per month) with Facebook or Google AdWords.

As a final tip, sign up for as many reputable business newsletters that provide free tips and resources in online marketing, branding, social media networking and search engine optimisation (SEO). In the online age there is so much to master and many businesses provide enough free content to allow you to be successful without blowing your start-up budget.

There are many more branding and marketing activities that could be undertaken, but the ones listed will get you off to a professional and importantly low-cost start.

How did you save money when launching, branding and marketing your business?

Succession planning for micro businesses

2012-05-25T07:00:00+10:00

The old adage, “Fail to plan and you will plan to fail”, is very relevant and true when it comes to business. Implementing a succession plan will ensure your business continues to thrive when you leave.

Most business owners dedicate years of hard work to making their business a success. But what happens if they are suddenly unable to turn up to work anymore or it has come time for retirement? What will happen to your business then?

It’s not really a pleasant thing to think about so we tend not to, much like people shying away from making or updating a will. But the last thing you want is for those years of hard work to come to a grinding halt because you did not think to implement a business succession plan.

What is business succession planning?

Business succession planning refers to assessing, devising and implementing “exit strategies” for the business owner or owners. This can be for an unexpected need for a new owner – such as in the case of death, disability or significant trauma – or it can also be in relation to planning for the future, such as the business owner/s going into retirement, passing the business on to a family member or selling it to a completely unrelated party.

When implemented correctly, a business succession plan can assist you in addressing the issues of when and how the changes to new ownership and management will occur. It also gives your business an improved chance of survival when the transition to new ownership or management takes place.

Benefits of succession planning

The benefits of business succession planning depend on the precise personal circumstances of each case, but they can include:

Preserving and generating family wealth – including protection from creditors, spendthrift family members and estranged or divorced spouses.
Minimising disharmony between family members – particularly if they have different views about what should become of the family’s assets.
Minimising the impact of tax.
Funding retirement.
Risk minimisation and mitigation.

Key Person Insurance

It is important to differentiate between business succession planning and “key person insurance” – two concepts that are often confused. Business succession planning is generally concerned with the more logistical and day-to-day implications to the business should the owner not be around. This includes considering who will manage the operations and/or be the new owner, and how the succession might impact on the spouse or beneficiary of the exiting party. Essentially a risk management strategy, business succession planning should also involve any other entities that are operated, managed or owned by you or your business.

Key Person Insurance exists to protect the business against risks that it may be exposed to should the “key person” (or persons) suddenly exit the business. A key person in this context is considered to be a business owner, principal, manager or sales executive. These people are valuable in the business as they generate income and profit and they may generate capital cost for re-training or replacement. Key Person Insurance is concerned with the direct and immediate effects to the financial state of the business such as revenue and profit. It considers, and seeks to formulate answers to questions such as; if the key person is no longer around what would be the effect on revenue and profit? Would the business be able to continue trading? Could it pay the necessary bills and other costs?

It is extremely important to have plans in place that will protect not only your lifestyle interests and needs but also your intentions for your business. It is never too early to start planning for the future, so put together a succession plan now.

Do you have a succession plan in place for your business? Have you had experience with succession planning and, if so, do you have any tips?

Five benefits of registering your trademark

2012-05-24T07:00:00+10:00

Why should you register a trademark? Here are just some of the benefits only a registered trademark can bring your business.

1. The right to use your name, logo, slogan or other trademark

Only a registered trademark provides the owner with the right to use their trademark, Australia wide, on the goods or services they provide. Because of this, it is recommended you conduct a trademark search before registering a new business or company name, to help ensure the new name is not infringing an existing trademark, and to determine whether you will be able to achieve exclusive rights to use the name.

2. The right to stop others using your name, logo, slogan or other trademark

Once you have registered your trademark you have the right to take action against others who are found to be infringing your rights. Generally speaking, infringement would occur if someone else, who has not registered their trademark, starts using a name, logo, slogan or other “sign” that’s too similar to the one you have registered, in connection with goods or services that your trademark is registered to cover. Simply having a business name or company registered does not give you the right to claim an exclusive ownership over the name and to stop others from using the same name.

3. Add professionalism to your business

Owners of registered trademarks are entitled to display the ® symbol with their trademark and generally refer to it as a “registered trademark” in materials. To consumers, this symbol represents dependability, trustworthiness and professionalism. If you have taken the steps to protect your trademark and ensure it’s yours, this shows that you care about your business and intend on sticking around for a while. Note that it is a punishable offense to use this symbol or claim a trademark to be a registered trademark when it’s not.

4. Increase your business’ lifespan

In a study conducted several years ago at the University of Melbourne, it was found that a business survived on average more than two years longer for each trademark registered compared with businesses that did not register their trademarks. Registering your trademark increases the longevity of your business, which in turn increases consumer trust in your business. This then increases the likelihood they will choose to buy your products or services.

5. Generate further income for your business

As the owner of a registered trademark you are entitled to authorise the use of your trademark in connection with the goods or services it is registered to cover. Basically, you are allowed to license the use of your trademark to other people. Only trademark registration outlines “authorising use” as a right in this way. This means you can charge a licensing fee, often referred to as a “royalty” for others to use your trademark. You also get to control how it is used, allowing you to maintain quality control over your brand whilst generating further income for your business. You can continue licensing the trademark for as long as it remains registered to you, which – depending on ownership structures – could see you continuing to earn an income way past retiring or finishing with your business!

How has registering your trademark benefitted your business?

Balancing bubs and business: Five tips for maintaining your sanity

2012-05-23T07:00:00+10:00

Business can be stressful and crazy at the best of times but add babies, toddlers and kids and it can be utter chaos. So how do you service clients, meet deadlines and stay sane as you balance bubs and business?

1. Set realistic goals

As a “mumpreneur” (or dadpreneur) you have to play multiple roles. You’re General Manager of the family, your household and a business, not to mention the sub-roles you take on in your work.

With this in mind you need to be realistic with what you can achieve each day. There will be days when you don’t get everything done. But there will be other days when you are amazed at what you have accomplished. The key is to become good at prioritising.

Before you start any work, make a list of your tasks, separating the urgent jobs from those less pressing. When you are prioritising ask yourself, “What will make the biggest difference to my bottom line?” and “Are there any tasks taking up my time that I could outsource to someone else?” Following this, allocate yourself three to five core tasks each day and keep the rest in a task list entitled, “Would be nice to get done today”.

2. Separate work and family time

No doubt you’ve experienced the pull of competing priorities. The key to managing these is to have set times for each role. Schedule specific hours for playing and bonding with your kids, spending time with your partner, having “me” time, working and keeping house. Not only will you feel more at ease, you will also be able to give your full attention to each area during the allocated time slot.

It won’t always work out the way you plan, but your schedule will keep you mindful of where you need to make up time later.

3. Incorporate “time buffers”

Unexpected daily events happen all the time. From clients running late, traffic and meetings running overtime to shortened deadlines and sick or fussy tots. By building little gaps of time into your schedule you cater for these unforeseen daily events.

When planning your day, leave one hour open to address anything unexpected. With meetings and conference calls, add half an hour to the estimated duration in case the person runs late or it goes overtime. Most importantly, add time to deadlines you set – just in case something happens and you need the extra time. Better to tell your clients it will take longer and deliver on time or before than miss the deadline and potentially lose their business.

4. Make your work portable

You won’t always get the kids to be happy and sit still in the office and, depending on what you do, you may not want them with you at all. For these reasons, it helps if your work is portable. A laptop, smart phone and wireless internet are must-have tools that will enable you to do your work in the backyard, or even at the park or play centre if you need to.

5. Make time for you

Making time for you is vital for your own productivity, sanity and sometimes the sanity of everyone else. Your family and your clients deserve the best version of you and the only way they will get that is if you look after yourself. Be sure to schedule some “me” time into your day – after everyone is asleep, before everyone wakes or during naptime. You’ll come up with better ideas and be ready to handle whatever life has in store.

Do you struggle to stay sane managing both the kids and work at home? Share your tips for keeping it together…

Your future depends on your devoted dozen

2012-05-22T07:00:00+10:00

You might have 100 Facebook friends, 250 LinkedIn connections and 500 Twitter followers, but when push comes to shove, your long-term success relies on the support of just 12 individuals.

People often talk about those pivotal crisis points in your professional and personal life when “you find out who your real friends are”.

When things are going well, everyone wants to offer their help and be your friend. But when the proverbial hits the fan, or your star power wanes, hangers-on drop like flies. For most people, sadly, your value lies in what you can do for them.

Just ask ousted politicians, retired CEOs or fading celebrities how quickly the lunch dates and opportunities dry up once the previously desired power, money and influence are gone.

When you filter out acquaintances, colleagues, clients, casual friends, distant relatives and online connections, you may be left with a dozen or so devoted allies – and that’s if you’re lucky. These are the unconditional relationships that really count.

These are the people in your life that would:

Refer you unreservedly with glowing praise
Let you crash at their place if you turned up unannounced
Give you another project even though you screwed up the last one
Introduce you to the exact people you need to know
Come and visit you in jail
Trust you with their children (maybe even their new car!)
Answer your call at 3am
Be your sounding board and offer life-changing advice
Lend you money

In the short-term hurly burly of business networking and getting ahead, it’s all too easy to lose perspective and forget about this inner circle, and how valuable they are to you.

Symptoms of an imbalance can be prioritising work over close friends, sacrificing your health for money, neglecting loyal customers in the pursuit of new ones, or being charming in client meetings and snapping at home. Unfortunately it’s sometimes the people we love the most that get the worst of us.

Don’t wait until you really need them: identify this core group of friends, family and mentors and nurture them every day. Each is worth more than a million “likes”.

Have you ever been let down by a friend in business? Or, how has your devoted dozen saved your bacon? Tell all your friends in the comments.

How the 2012–13 budget will affect SMEs

2012-05-21T07:00:00+10:00

Wondering how the recent budget will affect your business? While there are a few benefits for SMEs, on the whole it leaves much to be desired, writes Michael Quinn.

As I’m writing this overview with a bias towards small- and medium-sized entities (SMEs), there was little in the budget to get excited about. The budget was particularly stark for SMEs given that the Government’s proposal to lower the company tax rate to lessen the impact of the impending mining and carbon taxes did not eventuate.

The two major items that will benefit small businesses are:

Immediate write-off for Small Business Entities; and
Claiming company losses

1. Immediate write-off for Small Business Entities

From 1 July 2012, small business entities (that is, entities with a turnover of less than $2 million) will be entitled to:

an instant write-off for the first $5000 expended on a new or used motor vehicle;
an immediate write-off for each eligible business asset up to the value of $6500 per asset.

2. Claiming company losses – company tax loss carry-back scheme

Companies, including entities that are taxed like companies, are now allowed to “carry-back” and apply current-year tax losses against profits gained in a prior income year to obtain a refund of tax the company has previously paid. Losses up to $1 million may be carried back each year, which could potentially translate to a cash benefit of up to $300,000 to the business.

As a transitional measure for the 2012–13 tax year, a one-year loss carry-back will apply such that tax losses incurred during the 2012–13 income year can be carried back and offset against tax paid in 2011–12. From the 2013–14 tax year, tax losses can be carried back for up to two income years prior.

Aside from these, the following changes affecting SMEs were also announced:

Capital Gains Tax (CGT)

Changes will be made to the application of the scrip-for-scrip roll-over and small business concessions to trusts, super funds and life insurance companies.
The revenue asset and trading stock roll-overs that apply to the exchange of interests in a company or unit trust for shares in another company will be broadened.
The CGT scrip-for-scrip roll-over integrity provisions will be strengthened.
CGT: temporary loss relief will be made available to facilitate super reforms.

Superannuation

The changes to superannuation will make even more Australians wary of investing extra funds towards their retirement. Every time any Government makes changes to this area, investment declines. Ideally if we want to save for our future, we need a long-term plan to superannuation rather than short-term changes. The budget announced the following changes to superannuation:

The start date of the 2010–11 budget measure increasing concessional contribution caps for individuals aged over 50 with low superannuation balances will be deferred by two years, from 1 July 2012 to 1 July 2014.
From 1 July 2012, individuals with income greater than $300,000 will have the tax concession on their contributions reduced from 30 per cent to 15 per cent (excluding the Medicare levy).
From 1 July 2012, the employment termination payment (ETP) tax offset will be limited so that only that part of an affected ETP, such as a golden handshake, that takes a person’s total annual taxable income (including the ETP) to no more than $180,000 will receive the ETP tax offset.

Goods and Services Tax (GST)

Most of the GST changes announced will only affect international business transactions or those in the finance and banking sector. The changes are as follows:

Funding for additional GST compliance activities will be extended for a further two years until 2015–16.
Minor changes affecting cross-border transactions will include a clarification of the definition of permanent establishment for GST purposes.
The operation of the GST law in relation to the mortgage lending sector will be clarified to reduce compliance costs.
From 1 July 2011, access to reduced input tax credits (RITC) will be restored for credit unions who rebrand as “banks”.
Health supplies by a health care provider paid for by a statutory compensation scheme operator will be GST-free if the underlying supply from the health care provider to the individual is also GST-free.
From 1 July 2012, a regulation-making power will allow certain payments between government-related entities to be prescribed as not being subject to GST.

Other measures

The Government has provided a significant injection of funds into the ATO’s cross-agency task force, which was established to counter tax evasion, avoidance and related crime. This is a further revenue-raising exercise for the Government but also serves as a warning to all taxpayers to ensure they accurately declare all their tax liabilities.

Additional funding – $76.8m for the Tax Office and other Project Wickenby agencies provided for the Tax Office to manage tax debt.
From 1 July 2012, the wine producer rebate will be amended to ensure that wine producers will not be able to claim multiple rebates for the same quantity of wine, beyond the total amount of wine equalisation tax payable.

Were you left feeling disappointed after the federal budget announcement? How will it affect your business? Comment below or join the forum discussion here.

Podcast: Australia’s largest media buyer sheds light on the future of brand communications

2012-05-20T07:00:00+10:00

In this insightful interview, Harold Mitchell talks about how the media world is undergoing its most dramatic shift since the introduction of the printing press.

Harold Mitchell AC owns Aegis Media. the largest media agency in Australia. Hundreds of millions of advertising dollars go through his business each year. In this interview, Harold talks about how the media world is undergoing the most dramatic shift it has ever seen since the introduction of the printing press and how by 2020 80 percent of all content we consume will be digital

Plus in this episode of the Small Business Big Marketing podcast, Tim and Luke tackle a question from a chiropractor who’s running out of patience and Professor Mike Ewing suggests social media may not be all it’s cracked up to be!

Duration: 34:08 minutes

Links to resources mentioned in the show: http://smallbusinessbigmarketing.com/harold-mitchell/

To subscribe to this show in iTunes, please head here.

Is your desk dangerous, even deadly?

2012-05-19T07:00:00+10:00

That acre of stunning leather-topped desk may look impressive and make your clients gooey with envy, but is it giving you those killer headaches, too?

Office furniture shouldn’t just be functional and look and feel good, it should also be good for your health.

I was once called to the home of a family who had recently relocated and were now all getting headaches, and the little boy was getting rashes.

When I got there I saw (and smelled) the brand new leather-topped desk in the home office. It looked very impressive, I must say. Unfortunately, because it was brand new, it was still off-gassing the preservatives (including fungicides and formaldehyde) used in its manufacture.

Try to avoid leather

One of the major ingredients used in preserving leather is formaldehyde. It's an excellent preservative - it's what's used to embalm bodies prior to funerals. It is also a carcinogen, irritant, allergen and can give you almighty headaches.

Also avoid PVC

PVC, or polyvinyl chloride, is linked with many adverse health effects, including birth defects, immune system disorders, reproductive health disorders, endocrine and nervous system abnormalities, and cancers.

I remember getting car sick on long journeys as a child, and I now know that this was actually caused by the PVC used in the car interior heating up and off-gassing. PVC Is horrid stuff, give it a miss.

... and particle board, chipboard and MDF

Furniture made from particle board, chipboard or MDF (medium-density fibreboard) should also be avoided. This is recycled or waste timber (that’s great!), which has been broken down and glued together with formaldehyde (that’s bad!), and sometimes covered with melamine or contact. The glue (and therefore the formaldehyde) can off-gas into your office or home. If you’ve already got this type of furniture and decide to get rid of it, for everyone's sake, don't burn it!

The other issue with chipboard is that it's a haven for mould. If "real" wood gets mould on it, you can clean it off and let the liquid soak in. When chipboard gets wet, it disintegrates, rots very quickly and attracts mould. If it’s a piece of furniture that you store other things in – like books or files – you’ll likely find that they get mouldy too.

Choose natural products

Natural products are great. Wood is excellent, and should preferably be raw and unfinished. That's because the finishes and varnishes you get on wood can contain acetone, benzene, ethylene glycol, methylene chloride, toluene and xylene. These are solvents that normally "flash off" while the varnish is curing, however smaller amounts can continue to off-gas for some time.

You know that "new paint" or "new varnish" smell? It’s toxic. Wood finishes that contain few or no volatile organic compounds (low-VOC or no-VOC) are available, so ask your furniture supplier to use these oils or finishes prior to supply or add them yourself.

Antiques are a good option if you can afford them and they fit with you décor. Because they're old they've usually off-gassed most of their toxins. Of course the exception to this is antiques that have been re-finished with modern toxic finishes. Second-hand (but real) timber from op-shops is a good option, too.

Glass and steel are also good, especially if you like the modern look. Go for low- or no-VOC paints or finishes on the steel though.

When it comes to your soft furnishings, carpets and underlays, again go for natural products, such as wool. Don't get the anti-stain or the fire-retardants additives though, because they’re toxic. And don’t forget to check how your carpets and underlay are to be installed; there’s no point choosing superb quality, non-toxic carpet only to discover it’s been glued down with the yucky stuff discussed above.

Have you had health problems from your office furniture? Please share your story below.

Stop being busy and start being productive

2012-05-18T07:00:00+10:00

Recently I sent out an email asking people what their top business issues were, and one issue kept coming up: How can I get more time to do all the things I need to do? I wish I had the answer to that one! Well, actually I do…

While I would love to start a discourse about the nature of time, reality, consciousness and “the matrix”, I’ve decided to give you some “instant pudding” instead – something that you can use straight away. It is the best (ever) tool I have found to focus your thinking and actions, so that you can get the best results in line with your vision and within the time you have available.

Where does the time go?

I have searched for years and never found more than 168 hours in a week. And yet, in business today we are expected to produce more with less – better services, quicker response times, more products to market, increased sales and better value for money. Managers and leaders in particular are expected not just to plan and prioritise their own work but also to be responsible for what their team accomplish.

And then therein lies the catch 22:

The harder (or more) we work, the more money we make. And the more money we make, the less time we have to enjoy it.

This is the world that we live in today, and the only way out of this loop is to stop being busy and start being productive.

How to be productive

In about 1986 I read a book by Alan Lakein called How to Get Control of Your Time and Your Life. Why can I remember this so clearly? Because it was from this book that I learnt the best time management/time allocation tool I had ever come across – bar none.

Lakein suggested that you should always ask yourself two questions:

What is the best use of my time right now?

Is this contributing to my progress?

This literally became my mantra and allowed me to always work on my highest priorities. In fact, I had these questions written in every day of my diary (I used paper back then!) so I saw them possibly one hundred times a day. As a result I became incredibly productive and achieved a great deal.

Over time, as my vision has become broader and more holistic, I have added some key additional questions:

What is the one key thing I will complete today that will move my world forward?

If this is the ONLY thing I get done today, will that make me happy?

Is this serving my highest values?

Is this contributing to my higher purpose?

Am I doing what I want to do, or am I just being busy?

Am I avoiding what I know is important by creating new stuff to do?

These questions have taken me about 20 years to learn (I know, I know – I’m a slow learner!). But now I use them all day, every day. They are programmed into my phone to remind me (hourly). They are printed out on a sign right above my computer screen.

As a result, I now focus on the things that are meaningful to me and uplift me, rather than responding to other people’s agendas. In other words, I am spending my time the way I want to.

Now for the challenge: give David’s questions a go and let us know the results! Or what techniques do you use to increase your own productivity?

How safe is that cloud app?

2012-05-17T07:00:00+10:00

Cloud apps might seem like a godsend for soloists, increasing efficiency, mobility and capabilities, and are often free to download and install. But have you considered the risks associated with the benefits?

Take for example the Google Apps Marketplace. It’s full of useful add-ons for Google Apps, created by third-party vendors, covering categories such as CRM, Project Management, Accounting, Education and Backup. The level of integration varies by app, ranging from sharing log-on information through to the app being able to read and write the data in your Google Apps account such as your email, calendar, contacts and Google Docs.

This raises the important security issue: how well should you trust these third-party apps? And it's not just how well can you trust the vendors themselves with access to your data, but how tight is their own security?

Shared-authentication integration

This is the option with the least opportunity for things to go wrong. You see, when you use Google’s OpenID, the third party is not actually obtaining access to your password. It’s simply passing the authentication through to Google, who is verifying your identity and passing that back to the third party. It’s pretty slick and it saves you having to remember and type in separate passwords for multiple apps. But what about giving one of these third party apps access to your Google Apps account data?

Access to account data

Here’s where you need to exercise much more caution, as there is a risk these third-party apps could become a “back door” into your otherwise secure Google Apps account.

It’s important in this case to scrutinise who the third party is and what their own security measures are – both from an internal point of view (what are they doing to make sure their own staff are not illegitimately accessing your data?) but also from an external perspective (what are they doing to make sure their own systems are not going to be hacked?).

Search the vendor’s website for reassurance on these points. If they don't address these issues expressly and specifically, email them or ask questions in their online forum.
What sort of questions can you ask? Try some of these:
- What procedures do you have in place to prevent your staff from accessing Google Apps data without our authorisation?
- How do you vet staff before you give them access to customer data?
- Tell me about your own security practices and policies? Are they audited by independent authorities?

Also look for logos showing certification for the app from trusted authorities such as Truste.

The best vendors will be pleased to get the chance to provide their credentials. The ones who are slow to respond or “woolly” in their reply may not be giving security the appropriate level of attention.

The third-party apps on the Marketplace can bring great benefits to a business in terms of automation, effectiveness, efficiency and functionality. But proceed with sensible, level-headed, hard-nosed business caution. Don’t get carried away clicking to add apps without properly assessing what access you’re giving to your data and to whom.

What cloud apps do you use in your business, and have you considered their security?

Make report and proposal writing easy with an outline

2012-05-16T07:00:00+10:00

Creating an outline for writing reports and proposals can save you time and effort. Here’s how.

Do you find it difficult to begin the writing process for your business documents, especially reports or proposals?

Have you ever found yourself in one of these situations?

You have limited time to complete your document.
You’re not absolutely clear as to what you need to produce with your document.
You have too much information and sifting through it is taking too much time.

In any or all of these scenarios, an outline can save you time and can help you to become clear on the essential components of your document.

Creating an outline

An outline is the skeleton of the document – it shows you what you should write and at what point. Follow these four steps to create an outline for your document. A good outline gives you something to follow during the writing process, breaking the task into manageable parts and ensuring no information is left out.

Step One: Key result

Write down the key result you’re aiming for. When doing this consider these questions:

What specific outcomes should this project produce?
Which outcomes are most important?
What business needs do the outcomes address?

When writing the key result it’s important to write it as a concise sentence. You don’t want to be referring to entire paragraphs in the following steps when you revisit your key result.

Step Two: Brainstorm

Brainstorm all that you know about the relevant aspects of your proposal or report, focusing on the who, why and when:

Who needs to be involved?

Why is your solution the best one to follow?

When will the project need to be completed by?

To develop a complete picture, some further questions to consider include:

How can I define the result areas?
What are the appropriate measurement indicators?
What is the cost?
What is my solution to the problem or situation?

It’s important not to order the points that you’ve brainstormed at this stage. If you do, then you’re more likely to block any further thoughts about your report or proposal.

Step Three: Group related ideas or facts

Once you’ve finished brainstorming it’s time to group related ideas or facts. Connect the relevant points to the key result that you wrote at the beginning of the brainstorming process. Expand on the ideas, becoming more specific where possible.

Step Four: Prioritise

Now is the time to prioritise. Think about your reader and what should come first from their point of view. Number the key points in order of importance.

Result

The end result is an outline for a report, the executive summary of a proposal or an outline for a complete letter proposal.

You can repeat the process for each section of your document as necessary. Depending on your document you can then focus on areas such as technical specifications, functional specifications, project plan and cost analysis.

Making this a regular part of your writing process will help you save time and energy, whilst creating a document that is easy to follow. By producing a document that is easy to understand and that covers the key areas for your reader you are more likely to have your report accepted and followed or your proposal winning you new business.

Do you use an outline for report and proposal writing? What else do you do to make the writing process easier?

Let’s get personal

2012-05-15T07:00:00+10:00

Whether you’ve put conscious thought into it or not, your business already has a brand personality – and if you’re a soloist, it’s probably closely aligned to your own.

Talking to some clients about their marketing messages recently, I realised few soloists are aware of the personalities their businesses convey. Even fewer seem to incorporate this more touchy-feely aspect of communication into their marketing decision making.

Those that do, really stand out. Off the top of my head, I can think of a web designer who relishes in his geeky reputation, a graphic designer with a quirky sense of humour, and a copywriter who’s passionate about playing an active role in her local community.

Without asking them, I’d guess that all three have deliberately decided to highlight these aspects of their own personalities in their marketing. I’d also be willing to bet that the decision has paid off for them in spades.

On the other hand, hanging out in the Flying Solo forums means I’ve also encountered umpteen people who’ve introduced us to their businesses without mentioning a single thing about themselves. I can’t tell you how that decision worked out for them because, frankly, I can’t remember a single thing about them.

The secret to adding a bit of brand personality to your marketing is to be both genuine and selective. As a soloist, if the personality traits of your business don’t align with your own, you won’t be able to carry it off, and you’ll come across as awkward at best or untrustworthy at worst.

But you don’t need to tell us everything about yourself either. Identify aspects of your brand personality that make your business a logical choice for your prospects and shine the spotlight on that.

If you need some clues, ask your satisfied clients what makes them feel good about doing business with you. You might assume it’s because of your technical skills and knowledge, as states your marketing material; but it’s more likely that they love doing business with you because you’re the bookkeeper who takes the stress out of BAS time, the business coach whose calmness is contagious, or the IT-guru who cures computers while putting clients at ease by cracking dad jokes. That’s your brand personality right there. Milk it!

Here’s a challenge: can you condense your brand personality into a single sentence? Please share it with us below.

WorkSmart: Why moving fast can equal failure

2012-05-14T07:00:00+10:00

Recently I've heard of a couple of instances where hurried behaviour very nearly resulted in the loss of a sale…and that can't be good.

This series of Work Smart articles by Robert Gerrish is proudly brought to you by Visa.

More small businesses go forward with Visa. Visit www.visagobiz.com.au

Modern business moves at great speed but at times, racing too fast can compromise the quality of the outcome. I've identified a number of places where we move fast for all the wrong reasons. See if any of these scenarios are familiar:

1. You assume you know what's needed

Even when you absolutely know the answer to a customer's problem, forging ahead to a solution without fully listening to their very specific circumstances is not a good look.

Being heard is what a customer wants and the deeper you listen, the clearer the next steps become.

2. You don't fully understand, but figure you'll work it out later

The newbie or out-of-depth soloist tends to hurry forwards even when they know there's a big gap where knowledge ought to be.

Speeding up dialogue or skipping over issues is used to cover for this, but is merely papering over the cracks. Speaking up beats stuffing up.

3. You're over-excited

The excitement of a new customer or project can result in the by-passing of sensible steps or procedures. To work more efficiently, you need to take a deep breath and get back with the program.

4. You're overstretched

Overwork happens to us all, but no customer enjoys being rushed because you need to be somewhere else. If you cannot be fully present you shouldn't...er, be present.

5. You have a noisy head

Clearly it's not just work pressure that messes with our mind so if you're starting to get a bit speedy and can feel the onset of some instability, seek out some new skills or get some help.

More small businesses go forward with Visa. Visit www.visagobiz.com.au

One of my favourite quotes comes from the Dalai Lama. He said words to the effect, 'I have so much to do today, I will have to meditate for twice as long'.

So have you suffered the fallout of the fast lane? Do you need to work more efficiently? Share your misdemeanors below.

Podcast: What happens when passion takes over

2012-05-13T07:30:00+10:00

In this podcast, Tim and Luke interview Hana Tolhoek, the creator of Strom, a high end spirit retailing at $110 per bottle. Hana is a true marketing go-getter.

Hana Tolhoek is building an empire one bottle of premium spirit at a time. Hana is a marketing go-getter, driven by a passion for what she does … and the fact that her parents encouraged her to drink alcohol from a very early age (for medicinal reasons, of course!). A modest budget for marketing her alcoholic beverage hasn’t stopped her from associating with the helicopter fraternity, a world snow-boarding legend, getting in front of the top 100 bar tenders in Australia and exploring export opportunities globally.

Plus in this episode of the Small Business Big Marketing podcast, Tim and Luke answer a question from Miriam at the Old Hawaii Bakery who asks how she can continue to make money from her beloved business whilst slowly pulling back from the day to day hustle. And, Marketing Professor Mike Ewing explains how the concept of simultaneous media consumption leads to attention fragmentation which eventually impacts on the way we consume marketing messages.

Duration: 45:22 minutes

Links to resources mentioned in the show: http://smallbusinessbigmarketing.com/alcohol-marketing/

To subscribe to this show in iTunes, please head here.

How smart sourcing can help your bottom line

2012-05-12T07:00:00+10:00

Smart sourcing is the big brother of outsourcing: it’s not just about cutting costs; it’s about sourcing the optimum solution for your business, making sure that it stays agile and flexible.

Here are three key types of business costs and how you can smart source in each area to help your bottom line.

1. Overheads

These are the costs of “keeping the lights on” – the everyday expenses of running the business. They don’t change with fluctuations in revenue, unless there are significant movements in business activity, but they can be the hardest to rationalise because they are often contractual or fixed. Here are some ideas:

Take advantage of virtual services: Outsource your admin support to a virtual office service, which is shared between a few companies. This can free up your time to concentrate on generating revenue and fulfilling orders.
Specialist services: Consider outsourcing services such as technical support, accounting and marketing. How much time do you waste putting off tasks that you aren’t comfortable with? Engage someone who lives and breathes it.
Embrace the cloud: Not only can cloud technology solutions be more cost effective but they can also make your business more effective by allowing you (and your clients) to access applications and share documents online.

2. Revenue-generating costs

These costs have an impact (directly or indirectly) on the revenue that you bring into the business, so proceed with caution here when looking for ways to smart source in this area. The tricky thing is correctly identifying revenue-generating costs. Direct costs – the cost of delivering a specific project – are relatively easy to identify. Indirect costs can be harder. For example, marketing is considered an indirect, revenue-generating cost, and is often the first “go to” for some companies when it comes to cost cutting; however, this can be dangerous, or at least a missed opportunity to attract revenue. The key is making sure that your marketing is highly targeted and you have a clear strategy.

So how can you streamline revenue-generating costs without hurting your business?

Virtual teams: Think about supplementing your own efforts with a virtual team either based in Australia or overseas depending on your business needs. Your costs can then flex in line with your business activity. One of my clients uses this model very effectively. Despite being a permanent team of one they can offer 24/7 responsiveness by having virtual team members based in Australia, the UK, South Africa and India. That’s smart!
Renegotiate supplier contracts: Even if you are only part way through a contract it may be worth raising with suppliers, particularly if you have a good relationship with them and are a regular customer. Alternatively, look for new entrants into the market who may be willing to be more competitive.
Reassess your marketing strategy: Are you targeting your marketing spend where the results are most measurable? Can you use SEO (Search Engine Optimisation) more effectively to replace some of these costs?

3. Discretionary costs

These are costs that can be eliminated or postponed without disrupting operations or productivity. They are the easiest to cut but in today’s bootstrapped environment they are usually few and far between. Do they exist in your business?

Finally, these smart sourcing reviews should be a regular part of your business operations and not just something to be done in tough times. Keep an open mind on new ways to operate, regularly review existing contracts and stay agile.

How has smart sourcing helped your bottom line?

When is it time to hire an employee?

2012-05-11T07:00:00+10:00

If you are planning to bring on an employee in order to help grow or support your business, just how should you go about it?

What’s your growth plan?

Each solo business owner needs to decide whether they want their business to grow. Flying Solo’s survey suggests it’s on the cards for half of all soloists. How do you know when is the right time to bring someone on?

Spotting the symptoms of growing pains

One of the main issues with being a soloist is deciding when it’s time to relinquish control of your "baby". Many solo business owners can't get past this point and struggle to continue providing their services by themselves.

What do you gain from doing this? In my view, nothing. You become worn out, your service level drops, customers leave, and you start feeling unmotivated.

You need to recognise these symptoms early and look for solutions. This is the time when you know you need to look for help.

Outsource or hire?

Initially your solution could be to outsource some tasks or responsibilities. But outsourcing can be expensive and will only relieve you of some duties. To really get the help you need, you’ll probably eventually need to hire an employee.

How do I find an employee?

Do I look to family? Do I advertise in the local paper? Do I advertise on a jobs board or use a recruitment consultant?

For a soloist, using a recruitment consultant can be too expensive, advertising on a jobs board or in the local paper can be like a lucky dip, and using family can end in disaster.

I normally suggest you try hiring someone you know (but who isn’t related to you) or have worked with in the past. You could also take a referral from a friend or friend of a friend that knows someone looking for work.

Regardless of where you find your new employee, make sure you interview them thoroughly, implement a strong employee contract, and always, always have a probationary period.

Have you bitten the bullet and hired a helper? What’s the experience been like, and how has it affected your business?

Manage your cash flow and get paid on time

2012-05-10T07:00:00+10:00

Getting paid on time is essential to minimising cash flow problems, especially for new businesses. Here are seven simple techniques to help you avoid cash flow roadblocks.

Customers that don’t pay on time usually have an excuse. By far the most common complaint our business receives from late-paying customers is that their invoice is incorrect. The second most common? That businesses don’t communicate effectively with their customers when there is a problem.

Disputes about invoices and overdue payments cost both parties time and money, which can erode into business cash flow. As a business, you can combat the above (and a few other common “pay delay” excuses) by implementing the following procedures into your day-to-day operations.

1. Be paid in advance

Requesting payments in advance of delivery eliminates the need to chase up overdue payments. It also secures the work before you invest in its delivery and maximises the cash flow available to your business. If your industry doesn’t traditionally allow for this payment structure, offer your product or service in a unique way. Consider establishing package deals or bulk-buy deals that offer a discount for upfront payment.

2. Only send correct invoices

Errors in invoices cause delays. It is common for inaccurate invoices to be set aside by customers until time is available to investigate the correct payment amount. This investigation usually occurs after the business chases the overdue payment.

3. Communicate with both customer and the person who pays

It’s often worthwhile sending two invoices (with the same invoice number, so there is no confusion) – one to the person who has placed the order and another to the person who pays the accounts. Reference the person who placed the order on the invoice so that the two people involved in paying know who to talk to within the business if confirmation is needed.

4. Snail mail your invoices

Posting invoices ensures they aren’t accidently left read-but-not-actioned in someone’s inbox. Most businesses need to print hard copies of invoices in order to stamp, date, sign off and file them, so by sending a hard copy, you make it easier for it to go through the correct channels quickly.

5. Make paying easy

By accepting payments via various methods, your customers have fewer excuses for not paying on time. The most popular payment methods are direct debit, credit card, BPAY, PayPal and cheque. Direct debit is a very popular method, so ensure you offer it as an option.

6. Receive and check payments vigilantly

Ensure your invoice has a clearly visible due date (bold it!) and have a process enforcing this date. Always check that you’ve received the payment by the due date and follow up on the next business day, preferably via telephone, if the payment hasn’t arrived. Don’t delay in contacting your customer as this will set a precedent and encourage future late payments. Ensure that a revised payment date is set in your follow-up communication, and send written communication (an email is fine) to confirm that extension agreement and payment date.

7. Get tough on repeat offenders

If you have a repeat late payer on your hands, then it’s perfectly acceptable for you to send them an email or make a phone call to them a week before their next payment is due to check that it will be made. Only do this for your repeat offenders, not if a customer is paying on time. You can also consider putting late payers on a warning system. Once the customer has exceeded the warnings you have set, make your business profits a priority and send notification that you can no longer do business with them.

These seven techniques will help you communicate effectively with customers and avoid falling into common traps affecting the cash flow of many businesses. Great cash flow management will alleviate most causes of financial stress, leaving you to focus on more important matters – like great customer service and growing your business.

Have you encountered cash flow dramas in your business? How did you resolve them?

Media pitch writing tips

2012-05-09T07:00:00+10:00

Ready to start contacting media so you can harness the power of PR? Here’s how to write perfect pitches that will get a busy journo’s attention.

Get straight to the point

How long do you think you have to catch someone’s attention during a phone pitch?

I make a lot of phone calls to media - quite often to people who don’t know me – and honestly, I think I have less than 30 seconds to make an impression.

It doesn’t matter if you’re contacting media or making cold calls to prospects. People don’t have much time for chitchat before you get to the pitch, and they don’t have time to wait while you get to the point.

Ask yourself every time: how can I be as persuasive as possible in the least amount of time?

Hint: Think about how many times you’ve gone over your elevator speech, and treat your phone pitches to media the same way.

Use headlines to grab attention

How can you catch and hold attention when you’re emailing rather than on the phone?

Because I want recipients to click on my email, I always turn my subject line into a catchy headline. Surprisingly, journalists tell me they often receive emails with the subject line “Media release attached” or even with the subject line left blank. Use the email subject line to sell your idea in the same way that the headline of an article, news report or blog catches your attention.

And again, keep it short. Next time you’re drafting an email, challenge yourself to create an irresistible subject line that will lead everybody to click.

Hint: Almost all my email headlines are six words or fewer.

Be clear about your message

When drafting your email message or phone script, be clear with yourself on what you’re trying to say. Respect the recipient’s time and get to the point.

Stick to bold, assertive statements. Explaining too much at this early stage can give an impression of uncertainty and you need to sound stronger than that. I believe explaining belongs in the media release or later on when the journalist has questions for you.

Hint: If you find yourself explaining ideas early in your phone or email pitch, your message probably needs more work.

Keep it concise – but creative

Challenge yourself to be more efficient with language by using powerful words and efficient sentences. I can write or speak using long-winded sentences that take you all the way around the garden or I can walk you directly to the rose bush. For this purpose, we’re going straight for the roses.

But we’d still like the path to be scenic. So if writing is not your forte (or even if it is) have a word storm before you begin. Spend ten minutes writing down every word you can think of that will help you describe and sell this idea. Get excited and have fun - now you have your own thesaurus to use for the pitch writing.

Hint: To really get your creative juices flowing, try making up words and phrases that convey your meaning.

Be your own barometer

The more you enjoy what you’ve written, the more your recipients will engage with you and your ideas. Would this pitch really catch your attention? Are you getting someone excited or just listing things?

Hint: Don’t try to rush the process of writing media pitches. Take time with your words and get them working hard for you.

Can you offer any other tips or hints for perfecting media pitches? Please share them below.