Relevant to all of us though, there are some tips to help you tame the credit beast, and get your credit back on track and working for you, instead of the other way around.

Via: Credit Card Education

You can have Quality, Service, or the Cheapest Price – pick two, because you can’t have all three.

I can’t even remember where or when I saw / heard this rule (it isn’t my original, but I can’t remember the source – sorry source), but when I heard it….a light bulb moment, a BFO (blinding flash of the obvious – I remember the source for BFO, Casey Gollan – thanks Case)

I use it every day, when I buy, and when I sell.

When buying, the application is pretty simple – If the price is low, low, low, what’s the catch? If you get three quotes, and one estimate seems to be way below the market value, you can usually bet that either quality or service has been compromised. Now that is not to say that a compromise in quality or service is always a bad thing, just a compromise.

For example, buying on eBAy. I love eBay, I have bought & sold some great stuff really cheap – but, there was always a compromise. To buy or sell at a low price, there has to be a compromise on either service or quality. I just bought a nice coffee machine on ebay. Brand new, an unwanted gift. I saved about 35% off retail- great price. The machine is brand new, under warranty, known brand – great quality. Therefore, the compromise is the service – I had to wait for it to be sent, no instant gratification. I take a small risk that the goods will not be as described. I have less rights as a consumer because it was bought at auction. So, the service has been compromised – not bad service, just different. Different enough that I have to decide if it is worth paying more for the better service, or accept the compromise for a better price.

A selling example could be when I sell caps. If a client wants 150 caps in under 2 weeks, with an average size logo we can easily turn that around for about $7-8. Great quality, Fast service, and a market value price. If the client wants to get them cheaper for whatever reason, then of course there are things that can be done, but they involve a compromise of some sort. We could choose a cheaper hat – a compromise in quality. We could print instead of embroider – again quality (it wont last as long) – so a cheaper hat or different decoration doesn’t mean bad quality, just different.

We could also compromise the service. If we made the caps to order in the Chinese factory instead of using stock already in Australia, we can reduce the cost of the same hat to about $4-6 – great price. Great quality – it’s the same hat, from the same factory, no compromise. Lesser service – delivery will take 12 weeks, rather than 1-2 weeks (literally a slow boat from China!) So, not bad service, just different.

How can we apply this to our businesses?

Do you have any competition?

Do you ever have to competitively estimate?

Are you in a price driven industry?

Are you in a commodities industry?

If you answered yes to any of those questions (and I think most of us would at some stage) then you must use the rule of three to define your USP.

We need to analyse our own business, and our competitors business to see how the rule of three applies, and how we can use it to our advantage.

For example, if your competitor has a consistently cheaper price than you, what are they compromising on? Do they offer a slower service? A different brand? A lesser warranty or guarantee? A lesser after sales service? A different production method? Somewhere, the compromise will be there (it’s a rule). Once you know what that is, you can then rationally explain to prospects exactly what the difference in features (quality, service) is, and why paying a little bit more could be justified. Now, some people will always go for the cheapest price. And some will be willing to wait for delivery, take a generic brand, live without the extended warranty, give up the free after sales service – that’s ok, let’s face it, you probably couldn’t keep up if you won every single order, right?

It could be the other way. You could be the one whose competitive advantage is a cheaper price. You still need to know what that compromise in quality or service is so that when a prospect brings it up, you can rationally explain why the compromise doesn’t matter – you don’t need the extended warranty because they never break down – the generic brand is made in the same factory as the branded one – you deliver slower, but you deliver right on time (when you said you would). Now some people will always steer away from the cheaper version just because they can (Ferrari would never sell any cars if price was always the major factor, right?) – that’s ok, you probably couldn’t keep up if you won every single order, right?

So, according to the rule of three, where is the compromise in your business, and your competitors? More importantly, how can you use those differences between your competition and yourself to your advantage?

This year, month, week, that’s pretty much changed. The word is, we are fast moving towards breaking the drought. With just “average” rainfall mind you. Fantastic! However, it’s caused a bit of chaos this week. You see, Geelong is a city divided by the Moorabool River. It runs roughly West to East, and dissects the North from South.

Of course, there are multiple points at which to cross the river, but one (apparently) vital one. It’s called the Breakwater Rd & Breakwater bridge. As the name suggests, it’s a breakwater, and it floods every time the Moorabool River reaches a certain level. It a pressure release valve so that the river doesn’t flood as badly as it might.

It’s a two way, one lane intersection. It’s tiny. It’s insignificant. It doesn’t appear to be that busy in the scheme of things. I take it everyday in my 5 minute trip to the office.

When it floods, it throws the City of Geelong into Traffic chaos! This week has seen a lot of Geelong employees late for work. My daily 5 minute drive has turned into 45-60 minutes!

My City has a heart problem. Like our Hearts, the city depends on all it’s arteries to follow un-hindered – block one, and you have a heart problem.

It made me think about my business (while i was stuck in traffic ) Sometimes, we have arterial blockages in our businesses. It might be that the phone messages stall at reception and don’t quickly get sent to the sales guy, it might be the order release message from the accounts dept stalls and doesn’t get communicated to the despatch area, so an order sits on the back dock two days longer than it should.

An arterial blockage in our business is simply a part of the system that gets blocked up, slows the rest down, and sometimes even stops the system dead – grid lock!

The first step to clearing such a blockage is to identify it. Sit back, take a breath, and objectively look at your business and how an order goes through your system, even place an anonymous order and see how your system looks to an outsider. Once identified, you can take steps to alleviate the pressure and work out ways to prevent future issues.

In my business for example, the artwork process can be one of those areas that can bog down and block the system. It might be the client is slow to send us appropriate files, or our email breaks down, or a contract artist does not do the job fast enough – there are any number of ways that part of my business can (and has) block and stop orders from proceeding. I don’t like it, but knowing it is an area for a higher potential for screw ups, I pay more attention to it to avoid said screw ups.

Another area with potential for blockages is delivery. I rely on third parties often for delivery. I have clients all around Australia and even a few Internationals. Therefore, I am often reliant on third parties like manufacturers and couriers. If the guy on the back dock at the pens factory is having a bad day, my urgent delivery might not go out, just as the courier driver might have a flat tyre or only pick up 2 of 3 boxes. Even a foggy night made us miss one deadline when the plane holding one box was grounded.

I can’t completely avoid potential blockages, but if i know exactly what they are, I can put safe guards and pressure valves in place to reduce the risk.

So, does your business have a heart problem? It’s one of those questions just like your own health – it might not be comfortable to self analyse if you are at risk, but well worth the effort.

So here are the top seven IT mistakes I have seen new businesses make:

1. POP email

POP email accounts are those email accounts that you get when you sign up with an ISP. Often you get a few free email accounts that you can associate with your company domain. The problem with POP accounts is that they don’t get backed up and leave you with a false sense of security. Ultimately much of your businesses value lies in the contacts that you have, as much as the conversations you’ve had. POP accounts only store the conversations, and in many cases even those are cleared from the server by your email application. So now all of your data is sitting on the one vulnerable hard disk in your computer and unless you know what you are doing, this does not get backed up.

Shop around. For less than $US15 per month you can get a hosted 5GB Exchange mailbox that stores all contacts, calendar and email. It gets backed up each night and it can be made to synchronise contacts and appointments as well as email with your mobile PDA. If you have multiple employees you can share contacts and calendars and email. This can takes office productivity to a whole new level. Outside the office, on the work site, having access to your email, contacts and calendar is fast becoming as important and as expected these days as having a mobile phone was five years ago. From the work site you can place a booking with a client into the Calendar on your PDA and within minutes staff back in your office can see that booking by looking into your calendar on the server. And Vice-Versa, how good is that. No more checking with the office then calling the client back to confirm, not to mention the to and fro reduced if the booking did not suit.

Of course if you lose or break the mobile phone al of the contacts and appointments that are synchronised to the server are not lost. Just get a new phone and set up again and all the contacts and appointments will be synchronised back onto the phone.

OK, setting this up may require some help from an IT consultant but when you factor in the productivity gains and the reduced risk of data loss in the event of failure the gains are worth it for most businesses.

2. Peer to Peer networking

There is a plethora of fantastic cheap devices on the market these days that let you store copious amounts of data on a networked hard disk. If you like you can also share the hard disk of your own computer so that your co-workers can store all of the data in a single location.

But please don’t forget that you need to back that data up and, just as importantly, you need to be able to restore from that backup should the data be accidentally overwritten, corrupted or you just have a good old fashioned disk crash. Most IT professionals don’t like keeping all of the eggs in one basket. So we devise ways of making systems redundant. A ‘real’ server solution will have redundant hard disks, so that should one fail, your data does not go with it, resulting in days of downtime while the system is pieced together from that backup that you regularly do.

Too many small businesses still store scary amounts of critical data on a single hard disk inside a regular workstation (usually the oldest one in the office).

3. Free software

Free software sounds great. And it can be. I am not against it in itself, but with most software it is not the license that will end up costing you the most money, that will actually be a small part of the cost. You need to consider the longer term costs of implementation and running your systems utilising that software. For a small basic single user application that may be fine. But for something that will be implemented across your business to become what we call ‘mission-critical’ you need to consider the longer term implications. How easily can I get outside help to support this system should those who know it move on (key-man risk)? Can I recruit people who know how to use this system, or will I need to train them up?  Will updates for the software be available when I come to upgrade the platform on which it runs?

These are some of the questions you need to ask before taking on what may appear to be a cheap solution.

4. Mates Rates advice

It is hard to pass up free advice. However free advice rarely translates into good support. At least not the kind of support you can depend on from a strategic point of view. Your mates may be available after hours and on weekends but if they are holding down a full time job they may not be as accessible as you need them to be. There are also often strategic and technical differences between how IT is setup and run in a small business environment compared to that of larger organisations. There are specific product bundles available from vendors such as Microsoft, Dell, Hewlett Packard, Symantec and many others that facilitate excellent solutions for small business when implemented correctly. However while these bundles may appear to be a collection of products that many IT experts may be familiar with, they often include some additional bells and whistles that allow you to get real leverage with your IT investment. I have seen many implementations Microsoft’s Small Business Server where a so-called expert was unfamiliar with the use of Remote Web Workplace and so had not known to implement this for the business. Yet Remote Web Workplace is one of the core offerings of small business server and one that many administrators of large organisations would give their eye-teeth for. It allows small business workers to connect to any workstation within the office and run all of their applications from a remote location.

So how could this have been over-looked? Remote Web Workplace is not a feature available on ‘big’ business systems, so if your friends work in big business, they may not know about it, or many other things.

Another important function I have seen ‘knowledgeable’ mates overlook is the ability of Microsoft’s Small Business Server to enable BlackBerry type functionality with regular iPhone, Nokia and Windows PDAs. Perhaps the mate thought they would need to buy a BlackBerry server to do all of this, perhaps because the company they work for has one.

5 . Backup-backup-backup and offsite-backups. Then test them.

It makes me cringe to see what some people consider a backup plan.

Too often I have heard people telling a reporter that loosing the house to a fire was bad enough but loosing the family albums and memories was devastating. The rate of business failure after a major IT disaster from which there was no backup is very high. I have seen figures like 80% in the two years following the disaster thrown around.

So I guess lesson one is make a backup of all of the family photos and take them to a location away from the home. And then repeat this regularly. And check that you can access the copies that you have made. Lesson two is to do the same for your business.

6. In-house software / DIY Systems

All too often I see people who believe that their systems and their way of doing things is so special that they must create their own software just to manage this. Accountants probably bare the brunt of this when the new business owner fronts up to them with a box full of receipts and an excel spreadsheet full of fancy macros that nobody except the business owner knows how to use. Or the very very special Access database for managing stock levels and generating very very special reports.

All businesses want to feel that they are unique. But encoding that uniqueness into a software application that can only be modified by one select person can turn out to be a serious strategic mistake when you try to sell the business or when that ‘key-man’ risk is realised because the person who knows the system can no longer maintain it.

Ask yourself how your business will make money. If developing this special piece of software and selling it is not on the list then don’t go there.

7. Lock in.

No deal in IT is so good that you should sign up for more than two years. The market and your business moves too fast for that. What is a great deal today can be serious drain on cash flow in as little as six months from now. So whether it be a mobile phone plan, an internet connection, a PABX system, a server hosting plan or an IT support plan, two years is just too long a commitment to make. If we think a deal is good today, you can be assured that a better deal is just around the corner and if you’ve locked in for a long time you will be regretting the lock in for at least half of that time.

And it is not just the money. Once you’ve locked into a plan you’re often locked into a technology. Then along comes the next best thing and your business is now not as dynamic as you thought it was.

Svend Petersen is the Managing Director of Excelan.

Excelan provides a personalised level of IT support and strategic consulting for small to medium sized organisations in and around the Sydney CBD.

As the name would suggest, Goodsync is a syncronisation program. It will syncronise Folders & files on a PC, Network, and the internet.

I use it on a daily basis to back up my most critical files. Everyday, I copy my accounting back up, my CRM data, my clients art files, copies of my quotes and invoices, our procedures manual, my Roboform data, and my quoting program data – a lot right? It is a lot, and frankly, if I was simply making a back up or copying all those files every day, it would take all day!

I also make multiple copies – I have the original files on my mail PC, I have a back copy on a “storage PC” on the work network, and I make a copy to my laptop (so that I have a mobile copy of the file in case of something like a fire at work). That’s how I use it, you could just as easily use a portable hard drive.

The beauty of Goodsync is; it only copies over files that have changed. This means it doesn’t get bogged down copying files that are already there in the back up destination, a big time saver.

First, Goodsync analyses the source files compared to the destination files, after the initial analysis, this takes only a few seconds.

Then Goodsync creates a list for you to check. There are default settings like always forcing the sync one way, or force the newest revision of the file to override the direction of the sync. You can either manually make the decision, or let Goodsync decide for you based on your preferences.

At the click of a button, it copies the right files to the right place super fast – the only limitation of speed is the speed of your connection. My hard wired network syncs faster than it does to my laptop through the wireless router for example. Still, it only take 3-5 minutes per day to back up all my critical files to two different locations.

Goodsync is super easy to use, A few minutes to set up the initial settings, and then once that is done the daily task takes only minutes. Take this link for a quick overview of how Goodsync works . There is also a MAC version of Goodsync, which I haven’t tried yet, but if it’s like anything Apple, it’ll be easy

I haven’t used the portable version, Goosync2go, but i have used the protable version of Roboform, so I have to assume the portable version is every bit as good as the PC version.

Of course, there is a free trial of Goodsync, it has full funcionality, just a few limits on the volume, so give it a go!

Bren

In these tough economic times, owners are struggling to make their business grow, but strangely enough, there is great opportunity for companies to make leaps and bounds while the market is down.

Take a Step Back

Being in the day-to-day running of your business can alter your perception of how effectively it is run.  Take the time to look at every facet of your business to gain the most unbiased perspective.

What kind of relationships do you have with suppliers? Is there any way you can leverage the associations you have with them to gain better pricing or additional extras (like longer trading terms to increase cash flow) that they don’t usually provide?

Do employees see their position as a job or a career? One of the most difficult tasks an employer can face is motivating their staff so that they are more productive.  Try to introduce creative, cost effective ideas to improve staff morale, which will ultimately allow your business to be more successful in so many different ways – higher customer satisfaction, increased work output, less mistakes and a much nicer place for everyone to work.

What are your sales margins? Taking a realistic look at how much you are making on your products and services is crucial to allowing your business to grow.  A small increase in sales margin may not seem like much in isolation, but calculated over a year, this additional profit can make quite a difference to your bottom line.

In many cases, customers will expect to see increases in prices every few years, purely because of inflation.  If you do apply increases, be transparent to your valued clientele – it will only reaffirm why they should continue to spend their money with you.

What are your competitors doing? If they are blazing trails in your area or industry, find out why and how.  Start to follow their lead and see where you can even improve on their practises.  But another, far more powerful way to knock down competition is to find out what they are doing badly.  By being exceptionally great at what your competitors do badly, it will soon put you miles in front.

Planning – What to Consider

After all the research has been done, it’s important to spend some time planning how you will turn all of these findings into meaningful actions.  There is a fine balance between continuing to maintain a high service level in your business and being able to implement new processes, procedures and projects.  Figure out what elements can be immediately implemented into your business and what will take more time and resources. Once you’ve determined this, you can then allocate timelines to these more lengthy projects so as not to interrupt the flow of your business.  Many strategies tend to stretch over several years, so make sure you build some level of flexibility in to allow for changes in your business, the economy and the marketplace.

Implementation – Getting Your Hands Dirty

It’s all well and good to research and develop business strategy, but sometimes the hardest part can actually be doing the work involved.  The best way to avoid being overwhelmed with implementing the strategy is to break up each task and set key goals and milestones.  Once you have completed the task or project successfully, make sure you take the time to look back on what you have done and be constructively critical.  If you have an upcoming project of a similar nature, it will allow you to become more efficient in implementing your business strategy.

All in all, developing a business strategy gives you the chance to recognise opportunities and shortcomings that may not have been realised otherwise.  While each business can be very different, the foundations of a solid business strategy are ultimately the same and can be applied to most companies, regardless of their service offering or industry.

An article provided to us by one of our site sponsors – NRMA Business Insurance

Part 1 – Roboform.

If you are like me, you have dozens, if not hundreds of log ins and passwords to remember.

I have several websites and blogs to manage and they each have a log in for the blog, one for the forum, one for the admin etc etc, I bank accounts, supplier sites – the list goes on. As of today, I have 212 log ins to various websites, all needing me to remember the URL, the log in name, and the password – yeah, that surprised even me

I also use the web a lot these days, like most of us, for purchasing, researching, enquiring products and services. So i’m constantly filling in forms – Name, address, age, hair colour……. – very time consuming.

About two years ago, I found the very nifty product – Roboform. Roboform is a little bit of software you load straight onto your PC that securely stores all your personal info.

RoboForm’s Key Features are;

• So Easy – You remember one password, RoboForm remembers the rest. I suggest you don’t use your beagle’s name, ok?
• Saves Time – With ONE CLICK RoboForm goes to a website and logs you in automatically. I can log into any site on the list – no finding the site, no remembering the log in, no remembering the password.
• Saves More Time – RoboForm also fills long registration and checkout forms with one click. Roboform will fill in just about any form you find on the web. I save lots of time when signing up for service, newsletter, buying a product, making an enquiry. I’ve found a few it wont work with, like java applet stuff, but even then you can copy and paste faster then you can type it all in.
• Secures Your Information – Stores passwords on YOUR computer, protects them with AES encryption. Hey, nothing is bullet proof, but Roboform’s encryption is far stronger than having your browser store your passwords in the cache.
• Strengthens Passwords – Generates random passwords that hackers cannot guess. A strong password has, letters (a mix of upper and lower case), symbols, numbers, is min 8 digits long, and is apparently random in appearance. So, a strong password looks like this – 1&xT44B! – a weak password would be – Franklin (your beagle’s name that you use for every password, banking, your blog, your facebook, the lot!) The problem is of course, how do you possibly remember a password like the strong one, let alone remember dozens or hundreds of different ones? Roboform features a password generator that you can set to generate passwords of different length, different types of digits (numbers, upper / lower case text, symbols). It will fill the forms on the fly, and copy the password to you clipboard if the form you are using won’t allow auto fill in (some more secure sites like banks won’t allow auto fill in to stop robots)
• Fights Phishing – Phishing is when you get those emails from a bank or PayPal or some such asking you to log in and confirm your details. Often these fake sites look so real that many unsuspecting users will “log in” and hand their name and password to the thieves on a silver platter.Fills passwords only on matching web sites. Just for the record, your bank will NEVER email you and ask you to log in.
• Defeats Keyloggers – Somewhere along the line, we have all been infected by a malicious virus. A common threat are keyloggers, simply put, a virus records every keystroke, and send a small text file to the data thief at a pre-determined time. Roboform doesn’t use the keyboard to fill in your passwords, or to fill forms (like credit card forms), so keyloggers are rendered ineffective. You can also use your mouse to fill in the master password, so even that can be kept secure.
• Simple to Use – Just download RoboForm and learn as you go. It really is intuitive and easy to use. Even if you are very new to the interweb, you will be Roboforming like a pro in no time.

There are a few other features – you can find more details here – too many for me to detail, but the three above are the ones I use every day. In fact, i’m using it right now. I can quickly and easily skip between different sites. At the moment i’m working from home, so i’m skipping between logging into the work network, Vertical Response, the WordPress log in for this blog, and the admin for www.freepromotips.com.au. Too easy!

The good folks at Robofrom also have a portable version – Roboform2go – for installation onto a usb. You can take that with you and log in on any PC (the portable version doesn’t work on your Mac)

When you buy Roboform, you also get access to the online system, which means you can even log into your account from anywhere without Roboform2go (I find having a USB easier and more convenient myself)

It’s ready to go for PC’s, but they haven’t yet produced a MAC friendly version. I’m told that will come, but for the moment they have created a system utilising the online product, and a java applet that sits in your safari or firefox menu bar (it may work in other browsers, but I don’t know. I only use Safari of Firefox on my Mac)

If you think that sounds good, you can trial it free or buy it here.

That’s my favourite web tool.Part 2 next week – Goodsync.

Bren

I think I got started in business from birth. My Mum and Dad had corner stores and I was taught business skills at an early age. (I can remember balancing the till while in primary school… It was one of the ways we learnt to count).

After school I worked in One Hour Photoshops, working my way to Manager by the time I was 19. In 1995 I was offered a “job” at a lab as manager.. Turned out they wanted someone to buy it, so I did. This led to the expansion to 2 suburban Kodak Express stores. In 2001 someone offered me an offer too good to refuse so I took it ? (I took a year off and then took up a position as the EA to the Managing Director of the No 3 Photographic Supplier in Aus.)

Meanwhile my hubby, Mick, had been working in various companies doing Security Screens, Window installation, Blinds, Awnings etc. In 1998, I convinced him he should go out on his own. This business – Abacus Screens and Security – while successful, it suffered from my lack of time to manage the business side of things. (Advertising not planned, very much RE-active rather than PRO-active).

In 2000, he was offered a job at one of his suppliers so he took it. Lesson 1: ONE business at a time ?

Fast forward to 2005 and we moved from Brisbane to the Sunshine Coast. Mick secured a position at a local screen company. (I am still travelling to Bris 3 days a week). Mick learnt very quickly, the coast was grossly under serviced in the security screen business, so we resurrected Abacus Screens in October 2006

Understanding the problems from “Abacus Mach I” we put a number of things in place up front.

• We made sure we had enough money to start. Printing, advertising, good ute, etc etc etc. Also enough “buffer cash” for 3 months wages, just to take the pressure off.
• We joined a couple of networking clubs, so we had people to talk to and bounce ideas off.
• Mick spent a fair bit of time scoping out who he knew (Lots of his old colleagues have moved to the coast and are now in management and decision making positions with building, window or aluminium companies)

Nearly 2 years down the track and all in going along VERY well.

2. What inspired you to become part of the FBT forum?

Gosh it is soooo long ago now ? From memory I was googling something to do with business and came across FBT. I am a forum junkie and join anything !!! Most though get deleted from my Favourites after 3 months or so when I get bored. So I guess the fact I have been a fairly active member for the past 24 months or so is testimony that the forum is vibrant and above all RELEVANT!!

3. What have been your three biggest business challenges (so far) and how have you overcome them?

• Finding staff- As with many communities, we have a skills shortage on the coast. (Hmmm Well maybe not We have a “committed worker shortage”. Talk to many business owners (especially “tradie types” in any coastal community) and , if the surf is pumping, the sickie rate is high ?)
• We have overcome this by asking prospective employees LOTS of questions (I asked the forum to give me some questions to ask – Thanks Guys!!) and following up references. My number one telling question with references is “Would you be happy to have “Fred” work for you again?”
• Marketing – With my background in retail I have great skills in creating a rapport to keep customers coming back and back. Abacus presents a different scenario wherein, generally, we only see our customers once or twice Overcoming this is an ongoing process. I ask a LOT of questions of similar, non-competing businesses. Eg our local winner of “Young Woman in Business” is in the steel shed business, so I rang her up, took her out for coffee and picked her brain.
• Managing Growth – Mick is getting a reputation among builders for being good ? So being able to say NO is difficult. We have learnt to say No gently, “No you can’t have it in 5 days but is 7 ok?” If he delivers in 5 Great!! But at least he doesn’t have to. Having a buffer allows us to outsource the manufacturing if need be.

4. What five tips would you give to a person starting in business?

5. Is there anything you would like to say about being in business, and or being an active part of learning more from Internet type forums?
Internet forums can be a good source of information and networking. FBT has a great cross section of industries and people who are ready to help. There is no such thing as a silly question!

6. The best part about being in business is…
The journey ?
I like to think of any of our businesses like a baby. They took a year or so of sleepless nights and teething troubles, then they walk all by themselves and eventually don’t need you anymore ? Along the way you need to guide and point them in the right direction, they won’t just grow on their own. Discipline is important and , if you get it right, you raise a healthy self sufficient entity, with a life of its own.

Mick Moynihan & Sue Josephson

Abacus Screens
25/6 Beerburrum Street
DICKY BEACH Qld 4551
Ph 5491 5489
Fax 5439 4125
www.abacusscreens.com.au

Steve spoke to Sue from Abacus Screens……..

1. How did you get started in business?

LOL I think I got started in business from birth. My Mum and Dad had corner stores and I was taught business skills at an early age. (I can remember balancing the till while in primary school…It was one of the ways we learnt to count ?) After school I worked in One Hour Photoshops, working my way to manager by the time I was 19. In 1995 I was offered a “job” at a lab as manager..turned out to be they wanted someone to buy it, so I did ?. This led to the expansion to 2 suburban Kodak Express stores. In 2001 someone offered me an offer too good to refuse so I took it ? (I took a year off and then took up a position as the EA to the Managing Director of the No 3 Photographic Supplier in Aus.)

Meanwhile my hubby, Mick, had been working in various companies doing Security Screens, Window installation, Blinds, Awnings etc. In 1998, I convinced him he should go out on his own. This business – Abacus Screens and Security – while successful, suffered from my lack of time to manage the business side of things.
(Advertising not planned but very much RE-active rather than PRO-active )
In 2000, he was offered a job at one of his suppliers so he took it. Lesson 1: ONE business at a time ?

Fast forward to 2005 and we moved from Brisbane to the Sunshine Coast. Mick secured a position at a local screen company. (I am still travelling to Bris 3 days a week). Mick learnt very quickly that the coast was grossly under serviced in the security screen business, so we resurrected Abacus Screens in October 2006

Understanding the problems from “Abacus Mach I” we put a number of things in place up front.
A: We made sure we had enough money to start. Printing, advertising, good ute, etc etc etc. Also enough “buffer cash” for 3 months wages, just to take the pressure off.
B: We joined a couple of networking clubs, so we had people to talk to and bounce ideas off.
C: Mick spent a fair bit of time scoping out who he knew (Lots of his old colleagues have moved to the coast and are now in management and decision making positions with building, window or aluminium companies)

Nearly 2 years down the track and all in going along VERY well.

2. What inspired you to become part of the FBT forum?

Gosh it is soooo long ago now ? From memory I was googling something to do with business and came across FBT. I am a forum junkie and join anything !!! Most though get deleted from my Favourites after 3 months or so when I get bored. So I guess the fact that I have been a fairly active member for the past 16 months or so is testimony that the forum is vibrant and above all RELEVANT!!

3. What have been your three biggest business challenges (so far) and how have you overcome them?

1: Finding staff- As with many communities, we have a skills shortage on the coast. (Hmmm Well maybe not We have a “committed worker shortage”. Talk to many business owners (especially “tradie types” in any coastal community) and , if the surf is pumping, the sickie rate is high ?)
We have overcome this by asking prospective employees LOTS of questions (I asked the forum to give me some questions to ask – Thanks Guys!!) and following up references. My number one telling question with references is “Would you be happy to have “Fred” work for you again?”
2: Marketing – With my background in retail I have great skills in creating a rapport to keep customers coming back and back. Abacus presents a different scenario wherein, generally, we only see our customers once or twice Overcoming this is an ongoing process. I ask a LOT of questions of similar, non-competing businesses. Eg our local winner of “Young woman in Business” is in the steel shed business, so I rang her up, took her out for coffee and picked her brain.
3: Managing Growth – Mick is getting a reputation among builders for being good ? So being able to say NO is difficult. We have learnt to say No gently, “No you can’t have it in 5 days but is 7 ok?” If he delivers in 5 Great!! But at least he doesn’t have to. Having a buffer allows us to outsource the manufacturing if need be.

4. What five tips would you give to a person starting in business?

Know your craft. (It astounds me how many people have NO idea about any part of the business they are in – Often seen in franchise owners)
Learn the basics of book keeping. It is VITALLY important to know the basics of profit and loss and the difference between Gross profit and Nett profit. I see too many people who think they can buy something for $10, sell it for $20 and think they have made $10!!
Work ON the business. Of course you will read that everywhere, but what does it mean? It is the time to do bookwork, time to think of marketing strategies, time to work on staffing, time for networking. You need to MAKE time. If you feel you have no time because you are actually doing the job- get some staff and let them do the job!! If you have staff for 1 day, use that day to work ON your business.
Make sure you (and your family)are healthy. As an employee, it is ok to have a day off to be sick or look after the kids when they are sick. It is much more difficult to do this as a small business. Keep fit and eat well.
Balance family life Keep a diary. USE it. I have been known to schedule family time ? But it IS important to block time out in your diary for yourself. Remember than in the overall scheme of life your kids and family is worth FAR more than any business. Little Billy’s birthday party is infinitely more important than any business meeting. If you already had a meeting with Client A and Client B wanted to meet you would reschedule… Family is ALWAYS Client A!!.

5. Is there anything you would like to say about being in business, and or being an active part of learning more from Internet type forums?

Internet forums can be a good source of information and networking. FBT has a great cross section of industries and people who are ready to help There is no such thing as a silly question ?

6. The best part about being in business is…

The journey ?
I like to think of any of our businesses like a baby. They took a year or so of sleepless nights and teething troubles, then they walk all by themselves and eventually don’t need you anymore ? Along the way you need to guide and point them in the right direction, they won’t just grow on their own. Discipline is important and , if you get it right, you raise a healthy self sufficient entity that has a life of its own.

Mick Moynihan & Sue Josephson

Abacus Screens
25/6 Beerburrum Street
DICKY BEACH Qld 4551
Ph 5491 5489
Fax 5439 4125
www.abacusscreens.com.au

carnival of australia

archives | submit post

Welcome to the February 27, 2008 edition of Carnival of Australia.

 Thanks to all the contributors, some great stuff there, enjoy your reading! 

Elias presents The day we said “sorry”! posted at Ramblings of an Australian teacher, saying, “I hope I can still squeeze in the current carnival.” – Yes and No Elias! I think you wanted to be in last fornight’s carnival, but you are welcome in ours

John Crenshaw presents The Biggest Scam Your Bank Gets Away With Everyday posted at Truthful Lending dot Com, saying, “This little known scam accounts for a huge portion of fees paid to banks every year and is going on right under your nose. The worst part is, it’s completely legal.”

Micellaneous Mum presents Project book – introducing my Illustrator! posted at Miscellaneous Adventures of an Aussie Mum, saying, “The next installment in the series on how I’m going to publish my book this year.”

Business

D Robinson presents Diana Williams and Fernwood Women’s Health Clubs | Australian Women Online posted at Australian Women Online, saying, “This interview with Diana Williams is just one in a series of articles on successful women in business featured on Australian Women Online.”

Kathie Thomas presents Being Ready To Receive posted at soho-life.com, saying, “Helping clients to receive information.”

Leela Cosgrove presents How to Write a Professional Bio posted at Leela Cosgrove.

Leela Cosgrove presents The Seven Step Book Leveraging Program posted at Leela Cosgrove.

Michael Crooks presents Promotional Marketing Articles posted at Crooks Advertising Alliance, saying, “This article explains how salespeople can prevent children from sabotoging a sale.”

Martin Russell presents 5 Keys To Word of Mouth Marketing posted at Word of Mouth Marketing.

Dr. Gavin R. Putland presents Can you stop paying the mortgage and keep the house? posted at /etc/cron.whenever/, saying, “In America, thanks to reselling and repackaging of mortgage loans, the answer is often “Yes” because nobody can prove to whom you owe the money.”

Culture

bryce presents Tropfest Tumblings posted at a strangled duck, saying, “Tropfest was a great night with some great movies.”

Suzie Cheel presents There is a Fork In The Road: Which Path Will I Take? posted at The Abundance Highway, saying, “One morning walking on the beach I was fascinated how a tree branch thrown up by the tide was so beautifully positioned on the beach. For me, it was a fabulous image for a fork in the road. I knew then that one day I would find a saying or the words that would be just perfect to go with the picture.”

Michelle Sweeney presents My How Times Have Changes posted at Tonic Gifts.

Current Affairs

Dr. Gavin R. Putland presents Rationalizing stamp duty posted at Putland Uncensored.

Environment

Carole Fogarty presents Your Wealth Location for 2008: posted at THE HEALTHY LIVING LOUNGE, saying, “Locate your prosperity and wealth energy for 2008 and then elementally enhance and energetically uplift to bring new opportunities into your life. This is a potent energy that given the right conditions will surprise you.”

jen presents Semantically driven: blogging about blogging, parenting and living in Australia. » True blue posted at Semantically driven, saying, “This is a bit about what I do to save and reuse water.”

Family

Carole Fogarty presents The ultimate guide for a calmer driving experience: posted at THE HEALTHY LIVING LOUNGE, saying, “Ten practical and simple ways to ensure your car is not a metal container full of adult and children stress. Turn the calm dial up in your car now.”

Megan Bayliss presents Alleged sex predator masquerades as parent blogger posted at Imaginif…, saying, “What’s the time Mr Wolf? Time to take care because I have seen the avatar of an alleged child sexual abuser on many of your sites. Posing as a family blogger and all round decent human being is an easy thing to do…particularly when you want something. Be aware of who you are letting in the front door of your virtual home. Child protection is serious business. An investment in it nets returns beyond any current financial investment.”

PlanningQueen presents Ten things we should never say to kids. posted at Planning with Kids, saying, “A reminder to me as a parent about how I can impact my child through what I say to them.”

Food

Lightening presents Zucchini Lovefest posted at Lightening Online, saying, “Need some help using up those zucchini’s. Here’s a recipe or two for you to try.”

Gillian Polack presents Food History at the Royal Canberra Show – #1 posted at Gillian Polack, saying, “There’s a second article on bush foods, too. http://www.foodpast.com/food-history-at-the-royal-canberra-show-1-2/”

History

Romeo Vitelli presents Constance Kent posted at Providentia, saying, “Either a tragic victim or a brutal murderer (and maybe even Jack the Ripper). You make the call.”

Music

Duncan Macleod presents The Presets produce My People posted at Duncan’s Music Videos, saying, “Music video for My People, by Sydney electro pop duo The Presets, directed by Kris Moyes, younger brother of Kim Moyes. “I’m here with all of my people, locked up with all of my people. So let me hear you scream if you’re with me”"

Travel

Raymond presents Airline Credit Cards That Offer Free Miles posted at Money Blue Book.

That concludes this edition. Submit your blog article to the next edition of carnival of australia using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

We see a lot of them in the FBT forum and places like The Messy Desk

I noticed something interesting though. I noticed how many of them do not own their own domain. Instead they have names like “www.myserviceprovider.com.au/my_user_name”.

I think it is almost vital to have your own specific domain, and almost unforgivable these days to do anything different when there is such affordable web hosting so freely available.

I posed the question in the forum to see what others thought.

Gavin from Australian Business Directories said:

I know if you are a band, then having a myspace site can sometimes be a lot more beneficial.

As for owning your own domain, I think it looks a little more professional when customers come to your website.

Also having your own domain is like having real estate in cyberspace and depending on what your domain name is and business, it could be worth a lot of money in 5-10 years time

Great points Gav, we are not in a band, we are business owners, even if we do work out of a home garage like a band! We still need to portray a professional image, and a myspace page does not cut it. It may compliment what you do, and I am not saying social networking sites can’t help a business, but it cant be your only domain.

Online Real Estate! Yes, too true. There is a name out there right now that I would dearly like to own, but someone has it parked and wants more money for it than I can justify spending right now. Sad fact is, I probably will buy it in the end for what the seller wants.

Steve & Kelly mention brand image:

I think its vital, in the Brand Me Inc stakes I have to make a stand. – Steve

As well as a branding thing it’s much easier to remember. Word of mouth, radio advertising, anything printed people see, a simple “mybusiness.com.au” is so much easier than “members.serviceprovider.com.au/my_user_name” is to remember. – Kelly

I cringe when a business person gives me a hotmail, gmail, yahoo or similar email address. It says so much about your brand and what you care about. If you are too much of a skinflint to pay a minimal fee to have a proper email address, what do you skimp on in my dealings with you?

Craig summed it up nicely:

……why wouldn’t you?!

But I am not one to rest on my laurels and just use this site only for my research, I am always on the look out for new resources. I recently came across Uk business resource site.

Freshbusinessthinking.com is an on-line resource for small business owners, directors and entrepreneurs. It is where information hungry and time-poor business decision makers can source information and advice to help them run their businesses more effectively and efficiently.

It’s a wealth of information, there are articles, Business news (although i found this was a little biased towards UK news, but it’s a UK site, what did I expect?), Documents and forms templates, and Videos.

It really is a great online business resource for entrepreneurs. It’s the leading UK website giving advice, information and ideas to successful and growing businesses

Check out freshbusinessthinking.com, but be warned, you may be there for a long time reading!

Judging by how slow the servers have been for the last 24 hours I guess a lot of you have!

The 30 Day Challenge is a great concept by Ed Dale (and a couple of other guys whose names escape me right this second). The guys are offering their substantial expertise to train (over 30 days) people like me and you how to make money online.

It started yesterday (August 1st 2007) and I am signed up along with Ross & Steve (thats our team so far)

The goal this year is to create an online product and sell at least 1 x $10 sale in the first month, all without spending a single cent, thats right, nothing.

To be honest I am still a little vague about how it is going to work and what will be required of me in the next month (as if I need more to do!), however from what I have seen so far I think I am going to learn some very valuable lessons on online marketing, which can only help my other sites like this one and Black Dog Promotions.

Ed keeps telling me that it will be very easy, and so far it has. We have downloaded several tools for Firefox (all free) that will help us in the challenge, and just those tools alone are pretty nifty and worth checking out.

This is apparently the 3rd annual challenge, and previous entrants have had great success.

Like anything else, one of the main requirements is time. You will need the time to dedicate to the challenge, that in itself is a challenge for me! I see some late nights ahead

I listened to the Day 1 Podcast and video and i am about to listen to Day 2. I will write a journal for the challenge as I go along, I won’t post everyday, but I think once a week will do.

Wish me luck!

This has enormous potential, especially for those of us who can convey thoughts and concepts much better standing at a white board than we can with the written word.

I love it! I can’t wait to learn how to do this and give it a go.

A great idea from Richard Ziade @ Sketch Basement