Major Parties Fiddle While the Economy Burns

In our current (and now it’s official) recessionary environment, herVoice is appalled that Australia’s federal politicians have accepted the “Discretionary Electorate Allowance” of just under $5,000 pa granted to them earlier this week.

The key word is “discretionary”. If our pollies decide not to spend the allowance, they can keep it as taxable income. So for those parliamentarians who choose not to spend it on electoral expenses, the so-called “allowance” equates to a de facto pay rise of almost $100 per week.

Not a pretty picture against a backdrop of small business owners struggling to remain viable in today’s economic climate, workers accepting wage cuts to retain their jobs, working Australians losing their homes and pensioners struggling to survive day to day.

It’s bad enough that the “allowance” was granted at all in the current climate, but it’s even worse that at the time of writing, the silence from the major parties against accepting the payment is deafening.

The ABN is an apolitical organisation and has no affiliation with any political party.  However,  from a natural justice perspective herVoice commends Bob Brown, the Greens and Nick Xenophon for their stance against accepting the payments.  There might be integrity in politics after all.

But if there is, the major parties aren’t displaying  theirs -  it’s a total disgrace that well-paid and politically astute parliamentarians  are fiddling with their allowances while our economy burns.

For me the consultation process was very valuable

For me the consultation process was very valuable.  Of most benefit to me was to have someone to discuss my business concerns with particularly getting another point of view and different insight.  At the time of the consult it was regarding to start a website or not.  The discussion gave me the confidence in making that decision but also the understanding of how it would benefit my business.  In terms of improving the consultation it would be good to be able to pay to have such a consultation at any point.  Although I am in the mentornet program now (which is going really well) I can imagine after the program, despite the network of contacts I will build up, there will still be times when I would benefit from another consultation and would be happy to pay for it.

Kate Furst
Andiamo Landscape & Paving

It has been really a great privilege for me to be part of this program

It’s been really a great privilege for me to be part of this program.  It’s been a great learning experience.  I’ve enjoyed the unity of it.  I’ve really gotten to enjoy the inspiration and enthusiasm and the energy of my Pod, and I’ve learnt from them and I hope I’ve contributed in a small way to them.  So it’s really made a difference in so many ways.  And I’ve loved being connected with Australia in a whole new way that’s really made a gigantic difference.  So it’s made me closer to home in my heart.

James Burgin
Brandwithin
www.brandwithin.com

Is collaboration bad for your business?

In the April issue of the Harvard Business review Morten Hansen asked: Is internal collaboration bad for your business?

Hansen’s research raises a good point about just how valuable (or not) internal collaboration can be. He says:

“Too often a business leader asks, How can we get people to collaborate more? That’s the wrong question. It should be, Will collaboration on this project create or destroy value? In fact, to collaborate well is to know when not to do it.”

Here is a link to his article: When Internal Collaboration is Bad for Your Company

At the Australian Businesswomen’s Network COLLABORATION is one of our company values.

Internally we collaborate easily because we are a small team and we lean on each other to produce results. Our staff brainstorms many business development ideas before we execute them.

I believe it is the leader’s role (whether that’s the business or project leader) to ultimately decide if an idea goes ahead based on your business strategy, available resources and what course of action will achieve results. It takes a strong leader to run with an unpopular idea, even when it has come out of collaboration and team brainstorming.

But what about collaborating with those outside of your organisation?

Hansen’s points are as relevant when thinking about collaboration with external partners.

We encourage collaboration between our community members. Most members are women business owners who can benefit from joining forces with others to pitch for business, to barter services, to provide peer mentoring.  Actively supporting collaboration fits our positioning of being a community of like-minded women who network and connect to help each other grow business.

Collaboration often works best when parties have an equal amount to offer each other.
If you’re a big fish (ie. you’re successful) in an area of business, you are more attractive to the small fish than they are to you.

For instance, I’ve never been keen to (or known the best way to) collaborate with competitors. Maybe that’s because often, when these opportunities arose, I was the big fish in the equation. I’ve had what it is that others want a piece of.

I’ve also been in the position of being the small fish in a situation (and today there are many areas where I am new/young/green and the small fish.) In these situations it’s up to the small fish (me) to find ways to provide value within the partnership.  And, through collaboration you can add mass to your ’small fish’ weight and grow.

Hansen’s point - ie. Know when collaboration is pointless and when it is not - seems to ‘hold water’ regardless of who you are collaborating with.

Stimulate your business with Kevin Rudd’s help

Do you have your Australian Federal Government Stimulus payment yet? If not, I’m sure it will be in your hot little hands really soon.

Now… before you spend it I’d like you to have a think about this…

You’ve got a nice some of cash that you don’t need to pay tax on. How do you get the most out of it?

Idea —> Use it to STIMULATE your BUSINESS.

Yes, you could use it to buy a new pair of shoes or to pay off your credit card, and I thought of doing the very same thing!

But then I spoke to my business advisor and, ‘Duh’.  There is an opportunity that I’d totally neglected.

You can give your Stimulus check to your business.

And, here’s why it makes good sense (and why I adore my business advisor!)…

1. When you then spend the payment on legitimate business expenses (such as those we’ve suggested below) you can claim these expenses as tax deductions
2. Your improved skills and knowledge will help you make a better return on investment, potentially multiplying the value of what you have received

Here are some useful ways to use your Stimulus cheque to grow your business:

• Register for a training program that will improve your business skills
• Get a mentor and get sound advice from an experienced business owner
• Access resources that make business easier and more rewarding
• Join a business network
  

I’ve decided to use my payment to pay for a Podcasting seminar — because that’s an area of education that will help me in my business.

At the Australian Businesswomen’s Network we are big supporters of education as a vehicle to creating strong, sustainable businesses.

And, I have no problem suggesting that perhaps a good investment for YOUR stimulus is the ABN’s MentorNet Mentoring program.

I’ve seen more than 200 people go through this program and get a HUGE return on their investment of time and money.

MentorNet is a six-month small business training program that teams you up with a Mentor while you:

• Develop a business plan
• Discover your Strengths, Weaknesses, Opportunities and Threats
• Create a customer profile so that you can target your messages
• Design a marketing plan using innovative marketing vehicles
• Explore finances and budgets so that you know where you stand financially
• Learn how to induct and motivate staff to produce results
• Implement new media and technology to help grow your business
• Collaborate with other business owners and find new business opportunities
• Put in place ways to measure your business performance

You can learn more about the MentorNet program (and how you can save up to $750 when you register by 8 May here.

Regardless if this program is right for you or not, I invite you to consider spending in a way that will grow your business and help create the future you’re looking for.

Suzi

I gained enormous benefit as both a Mentoree and a Mentor

The Australian Businesswomen’s Network (ABN) has conducted Mentoring programs in the past and I have participated as both a Mentoree initially and later as a Mentor.  I gained enormous benefit from both roles.  As a Mentor, I enjoy the satisfaction of helping a (usually) young person “find their feet” and help them grow and develop as business owners.  All the women I have mentored have appreciated having an objective person who they can use as a confidential sounding board and who understand what it’s like to start a new business.

I offered my services for this ABN Program because of its use of leading edge technology and innovative processes for delivering the content of the Program.  I believe this technology is the way of the future and will provide many more women (and men for that matter) the opportunity to participate in this valuable learning experience.

Linda McDonald
Corporate Learning

What I am most grateful for is the amazing amount of sharing of knowledge

I think my biggest wins have actually been a couple of things.  First one which really opened my eyes was to see the value of what I had been putting into business planning, that it really pays off - enforcing that planning is where it all starts from, and as long as you keep doing that and following your plan you can move forward.  The second thing is learning so much about marketing, which was one of the weakest areas in my skills, so I have really learnt a lot.  What I am most grateful for is the amazing amount of sharing of knowledge from all people including presenters, mentors and participants, because everybody has been so forthcoming with all sorts of ideas and advice  - and I have been able to take it from there and implement it into my business.

Kaisu Christie
Ikko Pty Ltd

How many customers do you need to be successful?

How many customers, followers (on Twitter), friends (on Facebook), database names do you need to have a successful business?

Is it 10,000 followers, 5,000 friends? How many fans? How many names on a database?

I’ve seen people do an amazing job amassing connections on social networks, often in a short period of time and sometimes with relentless effort but questionable reasons.

Similarly, as a direct marketer I’ve run many campaigns to get names on a database.

When I started on Facebook I (like many) began to collect friends (many of whom I didn’t know at all). Then when I started on Twitter, I similarly began to collect followers. (Here’s a snapshot of  my profile page the day I went to 1,000 followers.)

Then, one day recently, I had a change of heart. I decided it really isn’t about size (or at least it isn’t only about the size of the following/names/database).

I changed my strategy and how I think about those that take the time to connect with me.

I read this post called 1,000 True fans. It convinced me that my ‘gut feel’ about how I want to relate to my community was something I should follow.
I encourage you to read the post in full.. but here’s an excerpt…

“A True Fan is defined as someone who will purchase anything and everything you produce. They will drive 200 miles to see you sing. They will buy the super deluxe re-issued hi-res box set of your stuff even though they have the low-res version. They have a Google Alert set for your name.”

So, I’m looking to make you a true fan.

While I do that I’m not about to dismiss the thousands of subscribers to our network or to do away with a focus on generating more (relevant) community members I have a new way of looking at things.

Here’s what I’m doing now.

• I follow people on Twittter that I feel I can add value to or who I think may have common interests to me
• I become friends only with truly personal contacts on Facebook (I haven’t quite figured out how to unfriend some of the ‘friends’ I don’t know without upsetting anyone)
• I continue to accept those that subscribe to the Australian Businesswomen’s Network - in fact I encourage you to…  if you want access to great articles on business

I understand that MY responsibility in the communications (whether they be tweets, posts, emails, letters)  is to:

• Deliver what you tell me you want to know about
• Know that if I don’t you’ll unfollow/unfriend/leave
• Understand that your name on my database means NOTHING (who wants to be a name on a database???)
• Stay relevant and build a relationship with you and give you resources you want

Thanks for being around.

I used to be terrified of selling

When I started my first business I knew nothing about sales. In fact I was so terrified at the idea of selling something that I would avoid answering the phone in case someone rang wanting me to convince them to buy.

To stay in business though I had to learn how to sell. I learned, that with practice and some steps to follow my confidence grew.

I know that you probably believe you have a great product or service to offer customers otherwise you wouldn’t be in business.

But…

• How do you sell (and feel comfortable in your shoes while you do it)?
• How do you overcome objections?
• What questions do you ask to understand what the real barrier is for clients who seem to be interested but are not getting ‘over the line’.
• What system can you follow that feels authentic (and not sales speak) that works?

For some sales has not been an easy part of doing business. Certainly for me, it was not.

But, it doesn’t have to be hard. That’s why I’ve invited Leanne Griffiths to present the Sales Success webinar on 29 April.

During this webinar we’ll look at:

• How to increase your revenue and maximise profits
• Innovative selling techniques
• What other successful businesses are doing to get new clients
• How to get new clients
• How to prospect and network more effectively

And, we’ll cover:

• New clients - where are they and how do you get them?
• Revenue and profits - what is the right balance?
• Pricing structures. What works.

And, if your specific question is not answered we’ll also continue the discussion on our closed-door online community.

There is no charge for ABN members to attend.

So, Register here for the Sales Success webinar which will be held on 29 April 2009.

And, read the most recent issue of the Women in Business eNewsletter - The Sales Strategies to Boost Your Bottom Line edition.

Just register here today for the Sales Success webinar.

I hope to see you there.

Suzi

Government Considers Banning Bank Exit Fees

Bank exit fees in the firing line

The Federal Government is considering banning bank ‘exit fees’ to help borrowers frustrated by the failure of lenders to pass on interest-rate cuts.

Cabinet sources report that the Government is furious at the banks’ refusal to pass on the most recent 0.25 per cent cut in full, accusing them of ‘hijacking’ monetary policy as the Reserve Bank tries to free up cash in the economy.

Assistant Treasurer Chris Bowen said he was seriously considering including punitive bank exit fees in a banned list covering unfair contracts.

They would be part of a bill Mr Bowen plans to bring to Parliament in June. Draft legislation will be published next month.

You can read the full Bank Exit Fees story here.

We say “Bring it on, Chris!”

Allowing other banks to refuse to follow the direction taken by the Reserve Bank is poor fiduciary policy; and we can think of no other industry that exploits Australia’s competition policy by charging exorbitant exit fees to stop dissatisfied clients leaving.

The effect of this most recent grab for cash by the major banks will do nothing to support Australia’s SME’s - their bottom line will continue to be savaged by both clients’ and customers’ continuing lack of disposal income and the increased overheads that follow in the tail of bank’s refusal to cut interest rates.

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