7 December 2021
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Business

Innovation patents - the accessible weapon of the IP arsenal

Innovation patents are unique to Australian law, and were introduced in 2001 to allow protection for innovations having insufficient inventive merit. Innovation patents only require a lesser hurdle of an ‘innovative step’. In essence, if your innovation is new but not inventive it might still be protectable by way of an innovation patent. The innovation […]

Business Boot Camp, day 12 - become a motor mouth

Marketing your business need not be an expensive exercise – all you really have to do is talk about your business at every opportunity to ensure it remains top of mind for potential and existing customers. Consider sending out a newsletter to your clients, telling them about your new products and business. It’s easy these […]

Business Boot Camp, day 11 - coach team players

Do your staff wear uniforms or drive vehicles with your business’s name on them? If so, then are your staff properly representing your business? If a staff member can be easily identified as your employee, then even if they’re off duty, they’re representing your business. A colleague was walking to the bus stop when he […]

Business Boot Camp, day 10 - train to be a cash flow expert

I recently was asked by a young person who was keen to start her own business what she had to do to avoid failing? The advice was to not be negative and ask yourself, ‘what do I need to do to succeed?’ Peter Drucker said great businesses innovate to get a market advantage and then […]

Business Boot Camp, day nine - more reps, less weight

All business owners want customers to return to do business. That’s why it’s so important to build a strong relationship with your customers. I heard a story recently about a local cafe owner who instead of giving coffee cards to all his customers to keep, instead kept the customer’s card with their name on it […]

Business Boot Camp, day eight - haggling for a better deal

Being a tough negotiator is a must in any business. This doesn’t mean you have to be rude, but you do have to stick to your guns when trying to get your way. For example, if you want to get a better deal and think your supplier is charging too much, try calling some other […]

Business Boot Camp, day seven - all systems go

Organisation is crucial to business success and great systems can help. So, what are systems? Put simply, systems involve a set of instructions that anyone should be able to follow. No matter how simple or complex a task may be, a system helps everyone to be on the same page. Security, for example, is important […]

Business Boot Camp, day six - a business that's all ears

Many business owners ignore a great source of feedback about their business, and it’s the people they are so desperately trying to please – customers. Most customers are not going to tell you what they think of your business unless you ask them straight. Find out from your customers what they like and don't like […]

Business Boot Camp, day five - exert some debtor pressure

Having debtors who won’t pay on time is a major cause of cash flow problems. Sometimes, getting a customer to pay can be like pulling teeth. Some business owners put off calling debtors, but how does that help cash flow? Put aside a particular time each week to contact the debtors who have outstanding debts […]

Business Boot Camp, day four - marketing out of left field

Thinking outside the square is important when it comes to marketing your business. Tim Pethick did it with his nudie fruit juice – he handed out his contact details on fliers with free samples of his drink. People could take the fliers to their local store if they liked the drink and ask them to […]

Business Boot Camp, day three - keeping your finger on the pulse

Business owners often don’t realise how important it is to keep up with business news. A number of indicators are released monthly such as business confidence and consumer confidence. The Australian Bureau of Statistics, for example, releases information such as monthly retail sales figures, employment numbers and the quarterly consumer price index. All of these […]

Business Boot Camp, day two - customer service in training

Most businesses start and grow on the back of the founder’s great customer service. It’s driven by a passion for the product or service and the customers who decide to patronise the business. I find many single-person operations, such as mortgage brokers, worry about growing their business because they don’t think they can replicate their […]

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