small business

Educating yourself with podcasts

Podcasts have been around for a quite a few years now, in recent times interest has spiked with educational podcasts on the rise. This free source of information can prove valuable to anyone. Here are our top 5 podcasts:

1) The Gary Vee Audio Experience

2) Impact Theory: Tom Bilyeu

3) Aubrey Marcus podcast

4) The Tim Ferriss Show

5) Ted Talks Business

There are so many great podcasts out there, let us know your recommendations by dropping us a line on our Facebook page. Thanks for reading!

Quick, handy and not boring tax information

The ATO and that three letter word TAX, we hear you…….boring!! Apologies to all the tax accountants out there! We all know that it is an essential part of business and if you don’t get it right, well, things can take a turn for the worse very quickly.

Click here to visit the small business newsroom. We find it useful, with regular, bite sized pieces of information that is easily digestible. Whenever there is a tax reform or change, it is reported on this website. There is also a lot of useful information from the Australian Government related to small business. We find ourselves browsing this site quite often. We hope it can be of some use to you. Thanks for reading.

tax.PNG

Ask your landlord this!

So you have decided to relocate your business to a new premises or you are a new business owner looking to open a shop front in a prime location. Exciting times - no doubt! A million things are probably going through your mind, negotiating a new fit out, lease terms, contents insurance, the list seems never ending. 

So here's a thought - prior to signing any lease or contract, ask the landlord how they can help promote your business. If your new premises is in the same location as several other businesses and the property is owned by the same landlord (eg. a shopping centre), you could ask if they have a cooperative marketing fund that all businesses contribute to. If they do, be sure to ask how much is injected into the fund each month. 

If your landlord is smart, he / she should be willing to invest in marketing for your business. After all, the longer you stay in their premises, the more rent they will receive from you. They should want you to succeed.

So let's say your landlord is willing to invest in marketing. Where is it best spent? Who to contact to get the best deal? Well, here you have 2 options. You can employ a marketing agency (like ours!) or you can do all the research, negotiating, media buying and production coordination by yourself. There is a lot of effort involved in getting a successful marketing campaign off the ground. But if you have a background in marketing or are just willing to put in the time and effort, you can make it happen.

It is important to note that traditional media like radio broadcasters, television networks and newspapers are a lot more negotiable in price than they were several years ago and still provide effective advertising methods, particularly in the Darwin market. You can bolster your marketing efforts by contributing to your landlords funding, which will give your business further awareness.

So make sure you have the conversation with your landlord. Promotion of your new premises should be in your business plan and if it isn't - make some changes to include it!! If you would like to find out more about business plans and general business advice, the NT Government has a team for this. Contact your nearest small business champion here. Thanks for reading.

 

Using video to streamline processes

There is no doubt that video production has been on the rise for several years now. If you don't know how to do something, you can pretty much just jump on Youtube and find out how to do it, maybe not a heart transplant or brain surgery (best to leave that to the professionals!). But seriously, it is amazing the wealth of knowledge that has been accumulated using video production.

So why not use this to help your employees in your business? Imagine if your office assistant needed to know how to perform a certain function while processing an invoice. Your assistant is obviously going to ask you. But you are so busy, out at meetings with clients. What if you were able to send your assistant a simple link to a video, that would show her a step by step process of how YOU would like your invoicing processed. Well quit imagining. You can do it easily.

  1. Buy a headphone and microphone set - a good quality set. We tried it the cheap way with Apple Earphones and the attached microphone. We had alot of audio problems, so don't skimp on your equipment.

  2. Go to Google and download OBS Studio. This is a screen recording application that allows you to do explainer videos. It records your computer screen so you can create a personalised tutorial.

  3. Once you have downloaded OBS Studio, head over to Youtube and do a couple of "how to use OBS Studio" tutorials. It is really simple to use, but do the tutorials as it will assist with your knowledge of settings and workflow.

  4. Once you are ready to do your explainer video, open up your intended program or file that your want to produce.

  5. Put on your headphones and check your microphone works. Now hit record on OBS Studio, this will now start to record your screen and voice. Simply talk through the process and complete it the exact way you want the task done. Click on "stop recording" once you have finished.

  6. OBS Studio saves direct to your computers video files. Go there and view your first explainer video. If you are unhappy with it, you can edit it within the app.

  7. If you are happy with it, set up a private account on one of the video sharing platforms such as Vimeo or Youtube and set it to private with password security.

  8. Now you can just send this link to your collegue and they can complete the task the exact way you intended! Easy!

Processes like this sound painful at the start. However, the amount of time you will save is invaluable in the long run. Thanks for reading.

 

B2B Sales knowledge

Many people just cringe at the words sales and, or marketing. The reason being is that a lot of businesses have been doing it incorrectly for so long. Hard sell sales tactics are now an 'old school' approach and this has contributed to a bad stigma about the profession. The fact is that without sales and marketing, business wouldn't succeed. It just needs to be done right. If you have a sales team here's some knowledge that you can pass onto them:

 

  • Don't Sell: If you have taken on new sales staff, encourage your sales staff to build relationships and not to sell to your customers. You may find that your sales will take a hit initially but the lifetime value of a solid relationship will be far more beneficial. People buy from people. Sure, your product or service has to be good, however if a trust worthy relationship is built this will be the foundation for business success.

 

  • Provide Value: If you can provide outstanding value to your customers you will always win. Here is an example. We were in a meeting with a director of a company that provides equipment for sleep appnea sufferers. Prior to our meeting, the client had the mindset that a 100% digital marketing approach was the answer. During our meeting, we asked several questions and noted that the target demographic was people 50+ years of age. After careful consideration, we suggested a television advertising campaign, coupled with a Google Adwords approach. Our reason for suggesting television advertising was due to the fact that his target demographic watches television within his location. The client was surprised that we would offer this suggestion. He knew that we would not make as much profit from him as we are predominantly a digital agency. He appreciated our honestly and the campaign has been a resounding success. Doing the right thing, is always the right thing.

 

  • Take Interest: Really show an interest in what your client does. Try and learn something from them. The simple acts of listening and asking questions will gain you respect from your client. If you can politely make a suggestion to them, which will in turn benefit their business, this will build trust.

Master the above 3 points and you will be on the road to success. B2B sales is really just helping other people in business succeed. Lose the old school sales mindset and start to see some real progress, both personally and professionally. Thanks for reading.