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The Pereto Principle

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The Pereto Principle or what is known as the 80/20 Rule applies just as equally in advertising as it does anywhere else. 80% of your customers are going to come from 20% of your marketing. Therefore your marketing effort must cover a wide range of activities, all of which must be monitored and measured. Note. If you can't monitor and measure an advertising promotion, DON'T USE IT...! It's a complete waste of time! No matter how much you might think it's working, get proof, if you can't find proof then we strongly suggest that you try another approach. Once you've established which of your existing marketing is working…
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Be Tax-Effective

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It's probably not an over-statement to say that a majority of SME businesses in particular are not as tax-effective as they should be. There are a number of reasons for this, the main one being "tax" accountants simply do not get involved in that kind of "bullet-proofing" or as it's formerly known "asset protection". The vast majority of SME owners will use an accountant merely as a bookkeeper. Although this is changing over recent times since the introduction of GST, an increasing amount of SME owners are beginning to use bookkeepers as a medium between themselves and their accountant. Clearly the less tax you have…
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Are Your Staff the WOW Factor in Your Business?

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"A Business's staff are the most important people it serves. Satisfy and challenge them and you will almost certainly exceed your customers' service expectations."   Before we begin to examine the importance of staff to your business take one minute to answer these three (3) questions... 1.     When was the last time that a business you purchased something from rang you up to ask whether you were happy with your purchase?   2.     Has a business you regularly buy from ever sent you a Birthday Card?   3.     Name three (3) businesses that you have been to in the last month which made you feel welcome and went…
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7 Things You Need to Know about Your Business Profit and Loss Statement

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Source: Chris Nobbs - ABC Business   Understanding Your Profit & Loss Statement, Tip 1:  Your business Profit & Loss statement shows you the day to day health of your business. If your financial information is kept up to date your Profit & Loss statement will be able to show you a number of key things:    Sales/ Income – You should be able to see the value of sales your business has made for the period. You should also be able to see the mix of sales if you are selling different types of products or services. This information can be compared to last…
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Strategic recycling of Visa gains. Danny John

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Source: Sydney Morning Herald When I heard this on the ABC whilst driving I almost had an accident... Then I read all about it and... well, you make your mind up.      Strategic Recycling of Visa Gains
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New Queensland Government Grant “Jobs Assist” for Queensland SMEs

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Source: Chris Nobbs Director - ABC Business Introducing a new Queensland Government Grant that has just started targeted specifically at small and medium sized businesses across Queensland. The grant program is called JOBS ASSIST, and quite simply it gives businesses who qualify the opportunity to get a grant of up to $8,000 from the Queensland Government (Stage 1 - $3,000 to get their business assessed to identify opportunities to improve performance; and Stage 2 - $5,000 to get coaching/consulting help for 3 months to improve actual performance and/or focus on fixing a specific business challenge). The Jobs Assist Grant initiative is helping businesses weather the…
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Yellow Pages, A Good Investment or a Cost…13 ways to make your ads work for you!

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Source: Chris Nobbs ABC Business Yellow Pages, A Good Investment or a Cost. Yellow Pages is and will continue to be one of the best places to advertise products and services because of two key reasons; Customer Demand exists – Yellow Pages directories have existed for many years and as such consumers have been educated to use them on a regular basis. Even with the emergence of technology based alternatives (Yellow Pages Online) these options tend to compliment the very strong book based directories. Customers Use & Buy – The majority of Australian Adults use at least one form of the Yellow Pages at least…
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Seven Key Numbers to drive profit in a Recession

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Source: Sue Hirst (CAD Partners - 1800 362436)   Ever look at the reports from your accounting software and get over-faced by all the numbers?  Do you not bother printing out the reports at all because you aren't sure which numbers to look at, and you don't have the time anyway? You would not be alone if you answered yes to either of these questions. A typical set of financial reports (i.e. Profit and Loss Statement and Balance Sheet) contains a lot of numbers and it can be a daunting task to make sense of it all and know which numbers are the important ones. …
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Why a Rate Rise Will Only Take House Prices Higher

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Source: www.crikey.com.au In an effort to present balanced views on topical issues todays article is from Crikey.com.  Now Crikey are an unbiased, non-aligned news agency.  These days it is difficult to not read news that espouses editorial from the political leanings of its owner(s).  I believe we should strive for a balanced view (even though I am a screaming lefty!). The housing situation is crazy.  Prices and rents continue to escalate.  Rents increase with every quarter % point interest rate increase.  It almost feels like the petrol collusion that takes place in this country on a weekly basis.  Prices increase along with all the excuses…
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The Final Word on The Stock Market Rollercoaster

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Source: www.theage.com.au ...or is it?  Look, after a brave showing it appears that the stock market is settling.  Let me reiterate - how brave!  What's certain is the instability will affect small business - your small business.  Just how much is anyone's guess.  At these times it pays to keep a level head and do everything possible to maintain an equilibrium in business.  Watch the balance of creditors to debtors and continue to be canny in your marketing.   Let's turn it over to Anneli Knight from The Age who has some interesting and worthwhile advice for us small business operators...   What to do…
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