Marketing Tip - Focus on the Problems...

Your customer's problems that is! By constantly monitoring the difficulties that your customers have, that your product/service overcomes, you will be better placed to:

1. Understand their needs
2. Meet their needs

Anchor the key problems of your current and prospective clients to your product/service, communiate it in your marketing campaigns, get your sales staff aware and focused on it, and your sales should benefit!

WANTED: Passionate Young

Entrepreneurs Ready To Grow Their Business

The FRANK Team is excited to announce the YOUNG ENTREPRENEURS STEPPING UP PROGRAM (YESUP), funded and supported by the NSW Department of State and Regional Development. Applications are now open!

The YESUP program focuses on Lifestyle Marketing Systems. As a small business ourselves, we know that there are two key needs to be met for a business to grow: Marketing and the ability to create systems within your business. So we’ve combined these two topics into an amazing new program for young entrepreneurs!

Applications close midnight August 31st, so get in quick - there were 16 places available – now there’s only 12 left! Workshops will take place in Sydney throughout September – November.

APPLY NOW To Be Part Of The YESUP Program!!!

For more info & an application form go to:

www.frankteam.com.au/entrepreneur/marketing-systemise-program.htm

How Does YESUP Work?

YESUP combines skills workshops, one-on-one mentoring and more to produce real and immediate results for you and your business. The workshops are run over six weeks and concentrate on the Lifecycle Marketing System creation for your business. They are presented by Jessica Kiely, the Director of The Frank Team. The one-on-one mentoring is also

run over these six weeks and allows you to work on an area you have identified within your business for some intensive assistance and guidance - all with an experienced and successful business person. More information about these elements is below.

In YESUP, You Will Learn How To:

v Become aware of how to develop systems for all aspects of your business

v Develop a comprehensive Lifecycle Marketing System

v Learn directly from experienced and successful entrepreneurs

v Attract and retain more customers

v Free up your time to work in other areas of your business

v Generate a more reliable income by creating a six to twelve month marketing calendar ready to go

v Track your businesses progress more easily and manage the performance of your marketing

v Make better strategic decisions

v Make it easier to expand and grow your business

v Sell more to existing customers and increase your profits on a regular and consistent basis

Also Included In YESUP:

v A Self-coaching session (Valued at $780) - This will inspire and empower you to drive your business success further by training you to coach yourself through the harder times.

v Networking with other young entrepreneurs who have growing businesses - This will expand your contact list, increase your business knowledge, and introduce you to new potential customers.

v A full ENYA Lawsense workshop (Valued at $750) - To help you avoid legal mistakes and save your business from losing money on legal cases. An ENYA (www.enya.org.au) Business Legal Workshop will be organised for you to attend free of charge at a time convenient to program participants.

v Weekly Inspirational TIPS (Valued at $450) - For ongoing inspiration and motivation to get you through the tough times.

v Regular Mentor Case Studies (Valued at $180) - To ensure you avoid business mistakes and leverage the experience of other successful entrepreneurs.

v LET IT OUT Roundtable (Valued at $350) - You will get other entrepreneurs brains working on and solving your business's problems. Grow your business faster by enlisting the help of other entrepreneurs to supercharge your business and help improve your weaknesses.

v Graduation Ceremony & Certificate - be recognised for your achievement at the YESUP Graduation Ceremony.

If you’re a young entrepreneur between the ages of 18 and 35, running a business in NSW that has been in operation for at least one year, and you are interested in taking part in our skills and mentoring program, contact Lesley on (02) 9966 4333. For more info go to http://www.frankteam.com.au/entrepreneur/marketing-systemise-program.html

APPLY NOW To Be Part Of The YESUP Program!!!

For more info & an application form go to:

www.frankteam.com.au/entrepreneur/marketing-systemise-program.htm

How Much Does YESUP Cost?

YESUP will cost you ONLY $200 (+ GST). But it’s valued at over $4450. Invest a small amount of money for a very large return. This program gives you access to the type of training that

normally costs you thousands of dollars!

If you’ve been in business yourself for at least five years and would like to be involved in the program as a mentor, we’d LOVE to hear from you. Contact Lesley on (02) 9966 4333.

If you know someone who could benefit from participating in this program, please forward this opportunity on to them. We’d love to get a wide range of young entrepreneurs and mentors involved and we need your help!

The workshops are made possible by the NSW Department of State and Regional Development (DSRD) the New South Wales Government's business development agency. DSRD delivers programs and services that support the NSW Government’s commitment to winning new business activity for NSW, and developing the capacity and productivity of the State’s economy. For further information on how DSRD can help your business go to www.business.nsw.gov.au

Keeping an Eye on Australia

A recent study - the 2008 Eye on Australia report (compiled by Grey & Sweeney research) has found the following things that we thought were pretty interesting:

- 67% of people say their job gives them a sense of identity (but is it the sense of identity they really want?)
- Australians are working longer hours than ever before (39% work more than 40 hours each week on average)
- 24% of people are "very satisfied" with what they do for a job
- 54% are "somewhat satisfied" with what they do for a job
- only 54% of Australians rate themselves as innovative

In regards to the environment:
- most Australians are concerned about the environment - 53% of respondents said that it is one of the biggest issues Australia will need to face within five years
- 87% of people surveyed think companies should tell people what they're doing to help the environment
- 68% of respondents said they're more likely to trust a company that looks after the environment

Yet only 49% would be willing to pay more for a good/service that is seen to be environmentally friendly.

Some other findings we found interesting:
- those surveyed trust Google as much as the police force
- those surveyed trust Google more than the ABC
- 91% of people are more likely than not to trust a company that's willing to admit it's mistakes

So, all you young entrepreneurs out there, what can you be doing to better serve your customers, create trust, and improve your business model?

Check out http://www.eyeonaustralia.com.au/summary/home.aspx for more info

Cashflow!

There’s no denying that cashflow is absolutely vital to a business, particularly one just starting out.

We’ve come up with a few tips for cashflow management, from our own experience over the past 6 1/2 years:

1. Clearly state on your invoices when the money is due. Give a date – not just a number of days. Then no one can make the excuse ‘I didn’t know.’
2. Make sure your customers understand your payment terms. If you expect payment within 7 days, let them know. That’s part of the condition of them working with you.
3. Don’t be afraid to chase up outstanding money. It may not be the most fun job, but it is really important, and often the accounts payable person of the company you’re dealing with may have overlooked the invoice (or will say they have) and will be happy to pay up pretty quickly.
4. Keep track of when money is due to you, so that you know when it’s overdue. If your customers know you expect prompt payment terms, they’re more likely to pay up on time.
5. Understand other people’s cashflow issues – if they’re an established customer and they’re having a little bit of trouble paying right now, let them know you understand and give them a little longer. That way you won’t damage the relationship, and next time you need help, they’re going to be more likely to help you out.
6. Make it easy for your customers to pay you. Make sure you clearly state your bank account details, or link to a paypal payment option, or whatever it is that you use.
7. If money is a bit tight, plan your cashflow. Know what’s going to who and when, so that you can prioritise.

What are some cashflow tips and tricks that you use?

Great Business Ideas That Are Way Too Easy!

Start your own business by:

- signing and promoting local bands to high school and uni crowds

-teaching older people how to use modern technologies - computers, the internet, mobile phones, blogs

Both quick, relatively easy and using skills you might just have, hiding inside you...

What's your simple business idea that's way too easy?

Traddies Opportunity

So who wants to take up this opportunity? It is a great online business to set up, or improve existing ones!

The average time between the decision to engage a tradesperson, agreeing to a contract and getting the tradie to your font door takes 11 hours, research by WHoCanDo has found. Just putting together a list of tradespeople to call takes 47 minutes.

How can this be done better? Do you have an innovative solution that the customer is just waiting to use?

We recently found www.elance.com and www.serviceseeking.com.au when looking for a web developer for a few small jobs we needed doing. Service seeking has proven to throw up some good options for us, and it only took a few minutes to upload our job requirement! Would be great to have a ranking system like ebay to see how other people who have used them have found their services! That would really help!

The Top 10 Legal Pitfalls of Business

When you put so much of your heart, soul and time into your business, you want to make sure it will not all be taken away from you. Being an entrepreneur often means that we live in the world of ideas, rather then details. However, correctly setting up the legal details of your business will help to ensure your hard earned sweat will remain for your benefit.

BRW Jan 10 - Feb 6 2008 lists these as the Top 10 Legal Pitfalls for Small Business.

1. You die unexpectedly and your business stops dead too. Have a will with a clause allowing a trustee to take over.
2. Your business is sued and your personal assets are up for grabs. Check that your legal structure of your business protects your personal assets from business problems.
3. You don't have a shareholder/partnership agreement.
4. You don't have terms and conditions written in your dealings with clients, customers or employees.
5. You fail to protect your IP. Use licenses, apply for patents, non disclosure & confidentiality agreements etc
6. You don't have written contracts with your employees, ensuring there are clauses about confidentiality and stealing customers.
7. You don't read the small print on important contracts. When you sign it, you are stuck with it, so READ it!
8. You fail to protect your business/product names with trademarks, and URL domain names close to yours.

I can see that I need to add terms and conditions to our customer booking forms, add to my will for a trustee and always read the small print on the contracts no matter how long it takes!

So how is the legal side of your business shaping up?