let's talk business march 2014
DESCRIPTION
Small business information and ideas from a diverse range of business experts.TRANSCRIPT
Let’s Talk Business 1
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
Let’s Talk Business Back To Basics Business Solutions - Support for Small Business
Volume 2 Issue 16 - March 2014
Brainstorming &
Mind Mapping
Bringing Back Old Techniques For New Ideas
Inside this issue
Cover Story - Brainstorming & Mind Mapping ………………...2
Being Human is Common for
Human Beings
Dr Tim Baker …………..….4
Tackling the Most Common
Success Roadblock for
Startups
Geoff Butler ………………..5
What is a Profit & Loss
Statement ?
Jo-Anne Chaplin ………......6
What is Link Building, Why
Bother and Where to Start?
Karen Ahl ………………….7
Is it 20 years’ Experience or
One Years’ Experience 20
Times?
Peter Nicol………………….8
Material Safety Data Sheet
(MSDS)
Ron Court …..………….....9
Tips for 2014 – Pay down
that Debt !
Paul Gillmore ………….....10
ATO Tax Tips …………….11
Biz Tips & Snippets ……....12
Let’s Talk Business 2
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
BRAINSTORMING And how to do it right
Dennis Chiron Marketing Means Business
0451 184 599 www.marketingmeansbusiness.com
[email protected] Skype: dennis.chiron2
Although it doesn’t appear to used that
much these days, a very dynamic and
effective group creativity technique is
Brainstorming - which is not much
different to Mind Mapping!
Although it was once widely practiced,
only seldom is it utilised correctly for
optimum benefit.
Even if you currently use brainstorming,
review these rules to check your
technique.
Preparation: Prior to the meeting,
give each participant an overview of
the subject to be brainstormed: The
Problem Statement, background
information etc. …. Send each
participant a set of brainstorming
rules.
Brainstorming Rules: The ideal
group size is between 5 and 12
people. Ideally all are familiar with
the procedure. A facilitator will lead
the group, and a video should be
taken of the process, which will
record the ideas expressed. The entire
group should participate in the idea-
generating process.
Part One
Before working on the “real”
situation, it is a good idea to begin
with a warm-up exercise (preferably
something imaginative to help relax
the group). When you are ready to
“get to work” the facilitator should
state the problem and invite initial
input.
The facilitator should:
1. Keep the atmosphere relaxed, fun
and free-wheeling;
2. Encourage everyone to
participate either with original
ideas or ‘piggy back’ on other
people’s input;
3. Focus initially on quantity, not
quality of ideas. Some groups set
a numerical goal, say 25 to 50 ideas
and try to reach these ideas in the
allotted time;
4. Urge participants to say anything
that occurs to them, no matter how
wild or ‘far fetched’ those ideas may
seem;
5. Allow around 20 - 25 minutes for the
idea generation phase. If the group
has been too conservative during this
phase, the facilitator should
encourage more lateral thinking by
saying something like: “What are the
wildest, most outrageous ideas we
can come up with?” (Remember, you
may find a brilliant idea that could
be “teased” to fit reality;
6. During the idea generation phase, no
one should be allowed to judge,
criticise or quelch any of the ideas
generated.
7. The facilitator should stay alert for
non-productive comments such as,
“We tried that last year” or “That
would cost too much”, “I don’t think
that would work”, etc; and counter
with, “This isn’t the time for
evaluation yet”.
Break:
Before you begin part two of your
brainstorming session, the group should
be thanked for their participation in the
idea generation phase.
Then the group needs to put closure to
phase one and take a break before going
on.
One creative twist that can be effective is
to use two groups to look at the ideas
generated, and then these two groups
evaluate the ideas. Then switch lists so
that both groups offer evaluation of all of
the ideas.
Part Two:
The entire group should then reassemble
to evaluate the input. As this happens,
be sure that each member is familiar
with the criteria essential for the
evaluation.
For instance, if price, human
resources, or timing is important, let
everyone know.
Look at all the ideas and suggestions
that have been generated for the value
that they may contain, both as they
have been originally stated and if they
need to be altered at all.
See if you can scale down an
outrageous idea to one which has
practical dimensions.
Follow Up:
Regardless of the results of the
session, all team members should be
thanked for participating. (A short
note may be appropriate).
If ideas were suggested that the group
decides not to implement, your
feedback should be in the form of a
very positive response.
If a solution that came from the
session is accepted, the entire group
must receive full credit..
Brainstorming can be dynamic and has
the added benefit of people working
together to achieve a common goal.
TRY IT!
Letters to the Editor
are most welcome
Please send your letters to
Let’s Talk Business 3
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
From helping you plan a major (or
minor) project and outlining complex
documents, to envisioning future
scenarios and serving as a powerful
information “dashboard,” mind maps
can help you be more productive,
creative and effective.
Some of the ways that Mind Mapping is
of huge benefit to business are:
Conduct a SWOT analysis.
Plan and manage a project.
Capture ideas from a group
meeting.
Maintain an idea database.
Creative problem solving.
Formulate a plan for the launch of a
new business or for an acquisition.
Make better-informed business
decisions.
Business process improvement.
Analyze and improve your
company’s business model.
Brainstorm potential partnering
opportunities.
Succinctly, a Mind Map is a graphical
way to represent ideas and concepts. It
is a visual thinking tool that helps
structure information, which in turn
helps you to better analyse,
comprehend, recall and generate new
ideas. Mind mapping is an
extraordinary creative and logical
means of making notes that literally
"maps out" your ideas. It is a highly
effective way of formulating ideas and
information by starting off in a graphic,
but sometimes cryptic form, and
developing your ideas from this starting
point.
One simple way to understand a Mind
Map is by comparing it to a map of a
city. “The city centre represents the
main idea; the main roads leading from
their own mind maps to suit their
own styles.
When to Use Mind Mapping
Notes: Whenever information is
being taken in or shared, mind
mapping helps to organise it into a
form that is easily assimilated by
the brain and easily remembered.
Recall: Whenever information is
being retrieved from memory, mind
maps allows for ideas to be quickly
noted as they occur, in an organised
manner. There is no need to form
sentences and write them down in
full. They serve as quick and
efficient means of review and so,
keep recall at a high level.
Creativity: Whenever you want to
encourage creativity, mind maps
liberate the mind from linear
thinking, allowing new ideas to
flow more rapidly.
Problem Solving: Whenever you
are confronted with a problem -
professional or personal - mind
maps help you see all the issues and
how they relate to each other.
Planning: Whenever you are
planning something, mind maps
help you to get all the relevant
information together in the one
place, and organise it easily.
Presentation: Whenever I am
speaking or presenting, I prepare a
mind map on the topic and the flow.
This really helps me to organise the
ideas coherently.
What is Mind Mapping?
And How it Can Benefit You and Your Business
the centre represent the key thoughts in
your thinking process; the secondary
roads or branches represent your
secondary thoughts, and so on. Special
images or shapes can represent
landmarks of interest or particularly
relevant ideas.” *www.mindmapping.co
Using A Mind Map
Most young children use mind-mapping
techniques easily as they naturally
progress from labelling and describing
their pictures. The older we are the
more reliant we are on our much-used
note-taking methods. The time and
practice to gain confidence in mind-
mapping are well worth the effort.
Many students already use some mind
map techniques such as highlighting,
numbered points and summary cards.
These skills can be extended into more
effective techniques. People may go
through a stage of using both notes and
mind maps until they become so
successful with mind maps that they
feel confident to rely on them alone.
A good idea is to start by brain-
storming new topics, then doing mind
map plans for assignments, then moving
on to mind map revision summaries.
Later, mind maps can be used to record
lectures and to summarise readings.
Many businesses use mind-mapping
and brainstorming as an excellent
method to stimulate free thinking.
Group decisions can be made about the
branch headings, keywords, and other
points, but individuals should prepare
Dennis Chiron Marketing Means Business
0451 184 599 www.marketingmeansbusiness.com
[email protected] Skype: dennis.chiron2
Let’s Talk Business 4
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
As an experienced consultant, new
clients will often remind me that: "Our
industry is different ...". Having worked
across 21 industries, I appreciate and
understand these differences. Different
priorities. Different processes. Different
approaches. Different products and
services. Different organisational
structures.
But I feel like saying to these clients
this: "But there are lots of similarities
too. People are people. They have the
same fundamental needs and interests". I
don't say this to my clients, but I think it;
I believe it. Consultants are in the unique
position to grasp this.
We all like to think we are special and
unique. And to a certain extent that is
absolutely the case. But the things that
bind us as human beings far outweigh
our differences.
The media likes to portray divisions and
anomalies and special cases. We tend
to buy into this message that the scale
of difference is mammoth between
human being inside and outside work.
But being human is very much a
common practice.
Consider this illustration.
People often ask me: "Who do you
work with? Who are your clients?" I
reply with this: "At one end of the
spectrum I work with police and at the
other end of the spectrum I work with
several orchestras, and many industries
in between these two". This is my
stock answer.
They look as if they are the bookends
of all industries don't they? I mean one
locks up hardened criminals and the
other creating beautiful classical
music. Polar opposites you might
think.
But the similarities between these two
industries are far greater than you
would possibly imagine.
For starters, police usually have a
distinctive uniform, but so do
orchestral musicians before
performing on stage. Both
organisations have a long and proud
history and as such, are very old
institutions. As a consequence, both
institutions are reasonably traditional,
having their own quirky conventions
and rituals. Both are hard to change;
but both are in desperate need for
change.
Police organisations and orchestras are
very hierarchical. The commissioner
of police and the conductor of an
orchestra are like God; what they say
goes, unquestioningly. Both
organisations are highly unionised.
You can't blow your nose without
consulting the union in either
industry.
Both have very distinct cultures and
if you are an 'outsider', it is hard to
break in to that culture. To gain
entry, you need to go through a long
and tough indoctrination process. In
the case of the police, it is lot's of
training and assessment at the
academy. With orchestras, you are
on what they call a 'trial' for a
minimum for six months. If your
peers don't like your playing your
out.
But once you are accepted, your
embraced. It's virtually impossible
to get booted out. And if you do,
you have messed up big time.
To be promoted in both
organisations you need to have
done the hard yards. Police can only
be promoted from the ranks. There
is no shortcuts and sideway
entrances. The commissioner was
once a humble constable. The
orchestra is the same. To be a
principal player or section leader,
you need to have been part of the
'rank and file'. And finally, both
organisations divide the public.
People either loath or love
orchestral music and the same goes
for police.
What's my point?
It's simple: People are people and
the things that we have in common
far out way our differences.
I think it is good to be reminded of
this when we go about our business.
Being human is common for human
beings.
Dr Tim Baker
Managing Director
WINNERS AT WORK Pty Ltd
www.winnersatwork.com.au
www.about.me/tim.baker
Telephone. +61 7 3899 8881
Editor’s Note:
Dr. Tim Baker is an international consultant, successful author, keynote speaker, master trainer, executive coach, university lecturer and skilful facilitator.
In a nutshell, he has conducted over 2,430 seminars, workshops and keynote addresses to over 45,000 people in 11 countries across 21 industry groups.
"“Dr Baker leads the world in offering an
innovative new approach to appraising
employee performance. His research and
energy in the specialised field of
performance management is evidenced
by his international profile as a
renowned speaker, management
consultant and facilitator". Stephen
Hartley, Australia’s leading expert on
project management and author of
"Project Management: Principles,
Processes and Practices.
Being Human is Common
for Human Beings
Let’s Talk Business 5
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
The chances of any startup failing are
perilously high. Research shows that
60% of new businesses will disappear
within the first three years and 90%
within the first ten.
This research further finds lack of
managerial experience is the most
dangerous warning sign your startup
might be doomed. Most companies
are failing for reasons that are
preventable.
One of the biggest yet least talked
about challenges startups face is
accountability.
It has been discovered that successful
startups take a four-pronged approach
to establishing a new business:
process, culture, people, and
accountability.
Unfortunately, accountability is the
one aspect most businesses never talk
about. It falls by the wayside, but
might be the most important aspect of
turning your startup from a great idea
into a successful company.
Tom O’Toole, the Beechworth Baker
says ‘I see the greatest problem in my
business every time I look in the
mirror.’
Unfortunately, for most business
owners the problem is the same.
Mostly enthusiastic entrepreneurs
develop projections, and sometimes
it’s impossible to tell how an untested
innovation is going to fare. This
problem in turn drives the system and
leads to a problem called ‘success
theater.’
In success theater, entrepreneurs build
a business model around unknown
and highly unpredictable idea to make
it seem like a great idea. They will
optimistically project growth while
underestimating the costs, making the
project look appealing to investors
and financiers.
This promise can blow up in
entrepreneurs’ faces when their
uncertain projections don’t exactly
pan out in investors or bank’s favor.
How to fix the problem:
It’s time to address your startup’s
accountability problem head-on. Here
are a few fixes to consider:
Innovation accounting
It’s time to use a different set of
metrics to measure progress in new or
unstable industries.
The old KPI’s are tailored for well-
established industries, so it doesn’t
make much sense to apply them to
fledgling startups. Instead, find new
metrics you can use to show
stakeholders value without resorting
to success theatre.
Build self-organized teams
It’s important to build cross-
functional teams that can pivot when
strategies aren’t working.
Develop a flat and team-based
structure which helps to be more agile
as a whole. With a flatter organization
small, independent, and cross-
functional teams can innovate more
quickly.
It also makes it OK to fail since
mistakes are much less expensive in
this model.
Don’t be afraid of innovation
By preserving the status quo we think
we’re making the safe choice, and the
next thing you know you’re out of
work. Remember if you’re not
innovating, you are probably dying.
Rupert Murdoch was quoted as saying
‘It’s no longer the big beating the
small, it’s the fast beating the slow.’
Our biggest advantage in the SME
sector is that we are nimble and can
change direction and markets virtually
overnight.
This is why I love it.
SME’s can come up with a new
strategy and begin implementation
today, whereas a corporate will take a
proposal to a board meeting who will
appoint a working party to come up
with a White Paper for consideration.
By then the SME has had a chance to
grab the new market position and
exploit it. How cool is that for us in
small business?
Companies from Blackberry to Kodak
thought they were safe by sticking to
the road most traveled, but this isn’t
the way to build an innovative
company that can change with the
times.
Understanding the accountability
problem is the first step to fixing it for
entrepreneurs. It’s time to leave the
success theater behind, and instead
rethink the way you measure success.
Geoff Butler FAIM AP, MAITD
MACE
Principal/Business Improvement & Implementation Specialist
Business Optimizers
Mobile: 0414 943072
Fax: 3036 6131
Email: [email protected]
Skype: business.optimizers1
Tackling the Most Common
Success Roadblock
for Startups
Let’s Talk Business 6
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
Jo-Anne Chaplin
Tax & Superannuation Professionals Pty Ltd
PH 07 3410 8116 / Mobile 0457 960 566
Email : [email protected]
Web: www.taxandsuperprofessionals.com.au
I am a qualified Accountant and will celebrate my 20th anniversary as a
Registered Tax Agent this year. During my time in Public Practice I have
assisted clients to achieve business growth and prosperity. My earlier career
included positions in banking, manufacturing, construction and retail. My
particular interest is in promoting a culture of using local industries and
business in order to build a strong community.
What is a Profit & Loss
Statement?
Each year your accountant will
prepare financial statements for your
business. An important part of these is
the Profit & Loss statement. This
statement might also be called
'statement of income & expenditure',
or 'Operating statement'.
This statement is a particularly
valuable, often overlooked, tool for
managing the financial side of your
business.
If you take a closer look at the list of
expenses on this statement it will give
you indications of where there are
profit leakages. Each item on the list
of expenses should be reviewed to
understand how it impacts on the
profitability of your business.
Controlling expenses is one activity
which can be used to generate higher
profits.
Review each line item carefully and
consider where savings can be made
without affecting the quality or
operations of your business.
If the statement lists the previous
year’s expenditures as comparatives,
anomalies will be evident, which
gives a clearer picture of
the business' pattern of expenditure .
Controlling expenses - possible items
to consider:
Telephone & Internet services - the
products of this industry change
regularly, are you on the most cost
effective plan available and is that
plan meeting your business needs?
Electricity - discovering savings here
might mean researching if off-peak
rates are a suitable option for your
business, utilising more energy efficient
lighting, heating / cooling options or
signing up with an alternative energy
supplier.
Advertising - review and evaluate
which type of advertising is working for
you and which is simply an extra
expense.
Bank fees & Merchant fees - stiff
competition amongst banks now means
savings could be made, just ask.
Interest expense - is your business
funding appropriate for your type and
size of business? Speak to your bank
manager about your options for
business funding.
Trading stock - are you buying at the
best price? Approach your major
suppliers to see if they can give you a
better price/rate. Are you holding too
much slow moving stock?
Insurance - obtain quotes from
alternative suppliers who offer the same
or better insurance cover and compare
your position.
Stationery and consumables - these are
by far the hardest of all to control.
Consider the merits of implementing a
'paperless system' where some or all of
your record keeping is kept in digital
format.
Purchase at the best price and take
advantage where appropriate of bulk
buying discounts.
Benchmarking
Another use for this statement is
'benchmarking'. This means comparing
your business to other similar
businesses via the use of trading
percentages.
Benchmarking is a powerful tool to
gauge the business viability, and is
used by prospective purchasers to
assess and value a business.
If you are using benchmarking in your
business, you can be sure that you are
driving your business toward greater
success.
Meeting with your advisor and
preparing an interim profit & loss
statement (prior to the end of the
financial year) will provide tax
planning options, as well as the
opportunity to rectify profit leakages
earlier.
Using this interim profit and loss
statement trading margins can be
reviewed, projections for the remainder
of the year estimated, and any
corrective action required can be taken.
I urge you to spend some time with
your profit and loss statement as a part
of your business management
processes, and view this as an active
document with significant potential to
drive your business to greater success
and profitability.
Please call me to arrange advice,
assistance in interpretation, or to
prepare an interim profit and loss
statement.
Let’s Talk Business 7
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
Link Building is part of an overall,
effective SEO or Search Engine
Optimisation strategy. SEO is the act
of making a website more appealing,
to the search engines (Google,
yahoo, Bing etc), than its
competitors.
The end objective: to get a website
ranking at the top of a search engine
search, and, for a range of related
search words and phrases e.g. for
Web-Sta, one of our targeted search
phrases is “Caboolture Web Design”
– we currently rank second on page
one on www.google.com.
So, what is it?
Linking Building is the listing your
website/business on other websites
online that provide a “link-back” to
your website. This can be done by
listing and creating links on forums
and blogs, other people’s websites
and online business directories.
Link Building is considered “Off-
Site” optimisation whereby no
access to your actual website is
required – you are merely directing a
bunch of traffic to it.
“On-Site” optimisation is where
physical edits to your website
wording, images and background
content occur (I will cover On-Site
optimisation in my next article). The
two go hand in hand and doing both
well can result in great search engine
rankings.
For the most part, online business
directories, like www.hotfrog.com.au
and www.truelocal.com.au are
deemed the most effective.
They allow you to list; your
business name, contact details,
description, industry, maybe a logo
and most importantly – A third
party LINK back to your website.
Listing your business on more of
these online directories, creates
more LINK backs, and the more
LINK backs you have, the more
‘popular’ your website is deemed
to be. It is called “Link popularity”
and the more quality links you have
the better.
Now, I did just mention the word
quality.
Google in particular, is so clever
that it can actually tell if a LINK is
considered quality or not. For
example: if you are listed on a
dodgy overseas blog website that
has nothing to do with your
industry – don’t expect any gold
stars from Google.
These days, Google can actually
penalise you for the effort. Also,
the number of links created in a
short space of time can be held
against you…there are many
offshore companies offering 200+
link backs for $99.
These are usually artificially
created so quickly, that Google
deems them dodgy. Of those 200+
links, most are poor quality. The
trick is to find online directories or
quality/related forums to promote
your brand message on.
If you can find it easily on Google,
then chances are Google already
likes it. AND, most online
directories are FREE.
The Why?
While Link Building is aimed at
helping a website rank better, Link
Building is also aimed at getting
your business on multiple ‘online’
locations. This can help reinforce
your brand. Imagine having your
business advertised on a bunch of
bus stops – eventually, people see
your brand enough, they are more
likely to want to deal with you, or at
least, be unlikely to forget who you
are and what you offer.
Where to start?
A great way to find more directories
is to Google your competitors. See
what websites come up with their
name on it, other than their own.
Most of these will be directories. If
they are free, list your business on
them too.
Here is a quick list of our top 5
directories:
www.hotfrog.com.au
www.truelocal.com.au
www.localbusinessguide.com.au
www.dlook.com.au
www.companylist.com.au
If you require any assistance, please
feel free to email Karen (The
Webgirl) at webgirl@web-
sta.com.au.
Goodluck and Happy Link Building!
Karen Ahl Bac. Bus (Mark, Man), TAE40110,
Cert IV IT Caboolture, Queensland
Ph 0415 142 178
www.web-sta.com.au [email protected]
What is Link Building, Why Bother and Where to Start?
Let’s Talk Business 8
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
Peter Nicol
Wisdom Marketing & Management Services
0417627097
www.wisdommarketing.com.au
IS IT 20 YEARS’ EXPERIENCE OR ONE YEARS’ EXPERIENCE 20 TIMES?
As a young salesman in the early
1970’s in Sydney I saw many
talented managers on my calls. I sold
advertising in those days in a series
of journals that related to the
electronics and mining industry. My
calls took me to many businesses
who wished to sell products to these
marketplaces.
I was privileged to meet many
marketing and sales people who
often shared their life experiences
with me. One such call still resonates
with me and maybe you might get
the same education from it as well.
The man was English and was at that
stage about 50+. He had a huge
amount of life experience. At that
time 1973/4 the Australian economy
was undergoing massive changes
(sound familiar).
In a few short dramatic weeks British
Leyland closed down leaving the P76
as an albatross.
Then a huge electronics company
Plessy closed its doors with 3000 out
of work and there was general
scaffolding down of many iconic
businesses. Just like 2014 seems to
be doing. I asked this very intelligent
man what was his call on it.
I still recall to this day his answer.
He said not long after the Second
World War world growth was
fantastic as the world had a
voracious appetite for anything that
could help re-grow the world
economy.
Plastics were in their infancy and
DuPont had just developed NYLON
(a name made up of the words New
York and London) where the
laboratories that made the product
were located. It was a product that
went ballistic and soon NYLON was
on everyone’s lips as a must have
product. Sales abounded and a
massive business was created.
Then, others came into the
marketplace.
Using different formulas and
learning from the marketplace they
too made inroads into a world
economy that by 1960 had begun to
feel the effects of too much growth
so things began to slow down.
Young sales people were at a loss as
to what was happening to them in a
market that had hitherto been
boundless in its support of the new
and innovative. There was less
demand and plenty of products to
select from. These sales people were
in an environment they had not
experienced.
They went to their managers and
asked them what they should do. The
management culture of many
businesses at that time was based on
“success breeding success”.
They had been elevated (yes based
on talent of that there is no doubt)
but they had never really felt the
chilly winds of failure and had no
real advice they could offer to the
problem.
The last 20 years has seen the world
awash with money. Some of it I
believe not real just an entry on a
page that overvalues something.
Success was breeding success until
we have a GFC that seems to be
lingering for far too long.
Now is the time to hunker down
and look closely at your sales
mix, the competition, develop
and hone inventory levels, look
for new product options and how
you sell and package the current
ones. If there are any folk you
know who were in business
successfully in the 60’s & 70”s
then go and have a chat with
them.
See what tips they have as to
how to compete in the markets
of today. They did not have the
tools we have today e.g. internet,
mobile phones etc.
But, they had the savvy to work
their way through issues. They
had the 20 years’ experience not
the one years’ experience 20
times.
This is a time to hunker down
and take a long hard look at the
past and from that work on
trying to predict your future.
An old boss of mine once said
“he who lives by the crystal ball
shall surely eat glass”
Do not turn forecasting into a
massive time wasting navel
gazing exercise.
But have a real good look at
where you are – where you want
to be and – how are you going to
get there.
A few minutes now might save a
whole world of grief.
Cheers Peter
Let’s Talk Business 9
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
to the criteria of Safe Work
Australia.
A statement of the manufacturer's
intended uses of a product is
important.
Codes from different classification
systems. They provide a quick
meansof identification of the hazard
presented by the substance and the
response required in an emergency
involving that substance.
Of particular importance is the
Hazchem Code. An example of a
Hazchem Code is: 2WE
The number (1, 2, 3 or 4) indicate
what firefighting medium should be
used (water, fog, foam, dry powder);
The first letter indicates what
personal protective equipment and in
particular what type of respirator the
firefighters should wear; and the "E"
indicates evacuation of surrounding
areas might be necessary, some
examples of signs are:
The Physical Description and
Properties subsection tells you what
the product looks and smells like.
This information can be used to
double-check the identity of the
product. If the colour, smell or
appearance does not match the
description, then the product may not
be what the label says.
Under the sub heading of Ingredients
you may find the chemical names of
any hazardous ingredients and the
Ron Court,
AMC Dip (Funerals) MQJA JP
OH&S Advisor
0419 679 619 [email protected]
Material Safety Data Sheet
(MSDS)
proportion of the product it
constitutes.
Health effects: outlines any short
(acute) or long-term (chronic) health
effects that may result from exposure
to the product. It should state the
symptoms associated with varying
degrees of exposure, from least to
most severe, will also give the routes
of exposure for harmful effects.
Most likely routes of entry to the
body are:
Inhalation (breathing the
substance into the lungs);
Skin absorption; and
Direct ingestion (swallowing).
Physical contact with a substance
may also have harmful effects.
Examples include dermatitis,
corrosion, chemical sensitisation and
eye damage.
Under the First Aid section of the
MSDS you will find details of
immediate action to be taken to
minimise harm and stabilise the
victim until treatment from qualified
persons can be obtained.
You will also find emergency
handling information under the
subheading of Spills and Disposal.
It is essential that you know how to
read &understand an MSDS.
You can get information about your
OH&S obligations and other
valuable OH&S resources both in
hard copy and online from their
websites. http://www.deir.qld.gov.au
Always seek independent legal
advice on what is applicable to your
situation.
No matter where you work or what
you do you will come into contact
with chemicals of some description,
this also applies to the home
environment.
An MSDS contains information on a
particular substance, including its
uses, physical & chemical properties,
health effects, and precautions for
use, safe handling requirements, and
first aid and emergency procedures.
The information in an MSDS helps
users of the substance to:
Know how dangerous the
product is;
Assess the risk associated with
the handling of the product; and
Develop the controls needed to
minimise that risk.
Anyone who manufactures or
imports a hazardous substance for
use at a workplace must prepare and
keep up to date its MSDS and ensure
it is available before the hazardous
substance is supplied to the
workplace.
MSDSs must be compiled in
accordance with the National Code
of Practice for the Preparation of
Material Safety Data Sheets.
Reading a material safety data
sheet will include:
The Australian organisation that
manufactured or imported the
substance. There should also be
an emergency telephone number
to call in case of an incident such
as a spill, fire or exposed person,
for example:
List alternative names that the
product is known by and any
manufacturing codes.
A statement as to whether the
product is hazardous according
Let’s Talk Business 10
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
2013 has left us with a new federal
government after a tumultuous
year politically. Other legacies are
substantial federal debt. This is
unfortunate because in 2007 we
had no net debt but now we have
the highest debt ever! We, as
families and businesses know that
we cannot continue to run up debt
and at some point, it needs to be
repaid. When we repay debt, we
must use surplus funds which
might otherwise have gone into
investment or perhaps lifestyle. In
short we have to live poorer
because we ran up debt. We are in
this position as a nation right now
and instead of investing money in
the nation’s future we have to pay
off debt thus stifling our ability to
grow our economy. This is a
grossly irresponsible thing for a
government to do, to slam our
economy into so much debt. A few
short years of ‘partying’ for a small
group of politicians has resulted in
years of debt reduction discipline.
What Else?
We cannot use surplus money for
investment because it must be used
for debt reduction means that we
are ‘hogtied’ regarding investment
of ours and our children’s future.
Naturally this places massive
constraints on our capacity to drag
our economy out of the aftermath
of the Global Financial Down turn
which is still rippling through
world economies. It becomes a
very fine line to try to stimulate
investment AND reduce debt
Structural Debt
We hear terms like this being
‘bandied’ around in the media but it
simply means ongoing debt or
expenditure responsibilities that
become an integral part of one’s
budget. You might think of a business
loan as structural debt in your
business because it must be budgeted
for as long as the debt lasts.
Structural debt in our nation are
things like education expenditure,
medicare and the latest major item –
the Disability Scheme. Now don’t get
me wrong. We as an advanced
compassionate society MUST afford
to look after those who are less ‘well
off’ simply because it speaks of us as
a people and a society if we don’t.
Nevertheless, if we budget for
expenditure when we are already in
massive debt we can easily see that
something has to ‘give’.
Debt and Taxes
If we raise taxes to reduce debt, it
stifles our economy. If we don’t pay
off debt, it allows the creditors to
remain in control and interest
payments remain a drag on the
economy. It’s a distasteful dilemma in
which to leave a nation. So we must
walk the tightrope of trying to invest
in our nation simultaneously paying
down debt to reduce the risk that debt
creates.
What about Good Debt v Bad Debt,
Paul GILLMORE DFS
Founder and Director
Southern Cross Financial Services
07 5429 5561
0402 685 032
I hear you say?
Robert Kyosaki, author of Rich Dad Poor
Dad describes good debt as debt that
creates cash flow as opposed to bad debt
that doesn’t. We might think of an
investment property of a share portfolio as
creating cash flow but borrowing for a
holiday including spending money as bad
debt.
This is precisely my point that as a nation,
businesses and families, we must consider
the nature or ‘structure’ of our debt and
what the implications might be. A good
way to do this is to utilise modelling or
projections. You can do this with your
budget or your investments. Good
modelling can assist with comparing
investments and considering the outcomes
in relation you your specific position and
goals. Don’t know how to do this?
Get Some Help
This is ‘bread and butter’, for your advisor
but ask yourself: how can I make an
informed decision without considering the
implications of my decision? What about
cash flows, your tax position, your debt
levels, your borrowing capacity, your
credit history, the potential risks and
drawbacks, what if something goes wrong,
do I have a ‘Plan B’, what is my exit
strategy?
We business owners tend to try to be Jack
of All Trades but a fresh pair of eyes and
some specialist knowledge can be
invaluable.
You have heard of “Surround yourself
with good and delegate” haven’t you?
Tips for 2014 – Pay down that Debt !
Let’s Talk Business 11
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
The Australian Taxation Office
recently launched a new campaign
to help Australian businesses meet
their tax obligations.
The social media and promotional
campaign provides business owners
with practical tips to increase
awareness of their tax rights and
obligations and make it easier to
comply.
It also provides information on
support available from the ATO for
business owners.
With New Year resolutions in full
swing, the first stage of the
campaign focuses on tax resolutions
to ensure businesses have the help
they need to become more
productive, efficient and profitable
in 2014.
Resolution 1 – lighten your tax debt
weight in 2014.
Tips:
Avoid penalties and interest by
lodging and paying on time.
Contact the ATO if you can’t
pay on time.
Keep the GST you collect
separate from your business
account.
Resolution 2 – give your business a
health check.
Tips:
Check your systems and records
are in order to avoid mistakes
on your BAS.
Leave paper behind and keep
records electronically.
Use the ATO’s business viability
tool on ato.gov.au to help assess
the financial performance of your
business.
Resolution 3 – better tax habits.
Tips:
Don’t be afraid of the ATO – ask
for help and boost your business
performance.
Always lodge your BAS on time
even if you don’t have anything
to report.
Avoid the paper shuffling – lodge
your BAS on line.
Missed the 28 February
Quarterly BAS Deadline?
Most businesses lodge and pay on
time with over 1.3 million BAS
lodgements received by the due date
for the last quarter.
If you haven’t yet lodged, you may
be missing out on a credit, or you
could be accruing penalties and
interest charges. The good news is
it’s not too late to get help if you
need it.
“Every business is different and there
may be a range of reasons for not
lodging on time such as short-term
financial difficulty, challenging
business conditions, and unexpected
events.
Depending on your business
circumstances, we may be able to
offer payment arrangements or a
remission of the general interest
charge.
However you must contact us as
soon as possible and have the
arrangement in place before we
contact you”, says Deputy
Commissioner Steve Vesperman.
Remember that even if you have
nothing to report, you still need to
lodge a nil activity statement.
If you have an amount owing, you
can use the Payment arrangement
calculator to get an idea of how
quickly you may be able to pay it
off.
On the flip side, during the 2012-13
financial year 20% of BAS
lodgments were entitled to a credit.
If you’re expecting a credit this year,
remember to check your bank details
are up to date when you lodge.
Tip
It’s never too early to get organised.
If you think you’re likely to have
difficulty lodging and paying your
BAS for future quarters, get in touch
with us before the due date and you
may be able to get an extension to
lodge and avoid the failure to lodge
penalty
For more information on how the
ATO is working for Australian
businesses visit www.ato.gov.au/
worksforme
Tax Tips
Let’s Talk Business 12
Web: www.marketingmeansbusiness.com Email: [email protected] Mobile: 0451 184 599
Your Business Name
Selecting the right name for your
business can be a very important
aspect of your overall Image, and
can sometimes be a powerful
marketing tool. The right name can
create a unique business identity,
but the wrong one can mar it, along
with your chances of success.
The best names for small businesses
are those that customers can easily
remember and associate with your
business.
For this reason, many small
businesses prefer to use words that
cleverly suggest qualities about the
underlying product or service
without describing them outright,
such as Lending Tree for loans,
Slenderella for diet food products,
or The Body Shop for personal
hygiene products.
These names are also considered
distinctive and are therefore
protected as trademarks.
Think carefully about what your
business name is saying about your
business. Consider the impact of the
following:
Jane’s Babysitting or Mother Hen of Claremont
Mac’s Plumbing Service or The Tap Doctor
J.B’s Sands Supplies or Soils-Aint-Soils
Steve’s Furniture Strippers or Strip Joint
Bob’s Tree Cutting Service or Tree Wise Men
Which name has the most impact
and leaves the best impression on
you?
Can You Delegate?
Small business owners have a
tendency to try to do everything
themselves. But there are so many
facets to running a small business
that what often happens is the small
business owner runs himself or
herself ragged, and the business
suffers. After all, how long can a
person work 50, 60 or even 70 hour
weeks before something collapses?
Many of the business owners I've
talked to understand the concept of
delegation, but have real problems
doing it. Their excuses include fear,
cost, and, in the case of sole
proprietors, that there's no one else
to do it.
But there's always someone that
you can delegate or outsource at
least some of your many tasks to,
and once you do, you'll be amazed
at how much more time you have to
focus on what you do best.
Why Postcards Are Powerful
Marketing Tools
Firstly, is the saving:- each postcard
mailing costs you at least 10 cents
less than a direct mail letter.
Then, postcards don't require a
letter opener or long fingernails to
open. Next, remember that
postcards take away from the
recipient the decision as to whether
or not they should open the
envelope.
You've made that decision for them.
People don't have to consider
whether or not to read your mailing
because postcards are so concise
that they're an astonishingly quick
read.
And let's not forget that postcards
can be churned out by your
computer easier than ever before.
More inexpensively, too.
Postcards are superb for saying thank
you, reminding customers of their
next appointment, and announcing a
fantastic discount, a new product or a
new service.
Postcards should be designed to be
eye-catching amid a flurry of mail.
Make certain that they highlight the
name of your business.
Use the same style of type that you
use in other marketing materials.
Aim for quick recognition and don't
forget you can hand out postcards as
well as mail them. Naturally, they
should reflect your identity and your
attitude.
Promote Your Business Through a
Media Release?
How can you get your business
to stand out from the crowd?
How can you do this without it
costing you a fortune?
One way to gain recognition and
exposure for your business is to send
a media release. The media are
always looking for stories of interest
to fill their newspapers, magazines,
websites, TV and radio shows. If
you can offer them something that is
newsworthy, topical, interesting or
entertaining then you have a good
chance of your story being used.
Sending newsworthy media releases
will help you establish good
relationships with the local media
and can be excellent public relations
for you or your business when your
story is run.
The local Press are all very
supportive, and you should think
about making contact with them to
identify media releases that they
would consider newsworthy.