Young Entertainer & Dancers

The world of entertainment can be tough to crack into and stay in. You and your skills are your business assets, and you then need to be your own marketing department to get out there and find opportunities and make the most of them.
We have just heard of a great workshop coming up helping young entertainers, performers and dancers to learn more about marketing themselves - and it is free, yey!
Sydney-based professional dancer Clarinda Tivoli and internet marketer Philadelphia Tivoli are set to reveal their secrets to gaining regular paid work at an exclusive one-day free workshop, The Performer Secrets Workshop for Dancers to be held on Sunday November 30, in Sydney.
Get your seat:

Email contact@performersecrets.com

http://www.PerformerSecrets.com

Mention you heard about it through The Frank Team!!!

Mobile content Opportunity

The Gen Ys, especially 18 - 20 year olds, are switching to mobile content. A recent poll sited in BRW (Sept 3) says that 40% of 18 to 20 year old Gen Ys in QLD have access to mobile internet. This is no surprise really - we love our information on tap and with mobile phones getting bigger and better screens it is great.
So, how are you taking advantage of this?
- Perhaps you have a new online business idea that would be perfect for Gen Ys accessing on their mobiles. Go for it!
- If Gen Ys are your target market find out what sites they are visiting on their mobiles (apparently it is mostly social networking sites) and see how you can partner or advertise on those sites, as this audience is set to increase.
- Perhaps you have an expertise in creating websites that are perfect for mobile internet and the screen of a mobile. Get that business started and offer to do new mobile websites for businesses, big and small!
So - get mobile.....and grow your business.

Ytrep Profile - Just Creative Design

Jacob Cass is a self-employed freelance graphic designer, working in the fields of logo design, print design, web design and branding with the majority of his time spent designing and implementing marketing promotions for small businesses such as logos, brochures, letterhead, business cards, email signatures and more. You will also find him blogging on his popular website Just Creative Design which provides free graphic design tips, articles and resources. He's also the latest young entrepreneur to be profiled on our blog!

What made you decide to start your own business?

Originally I started out doing graphic design work as a hobby for friends and family for free and I just loved it so when people were starting to ask “how much for this” and “how much for that” I knew it was time to start charging money for my design so really I guess it was just natural for me to start my own business.

How long have you been in business for?

I am 20 now but I got my first paid job when I was 16 so I guess I could say 4 years however I have only been doing it seriously for the past two years.

Why graphic design for you?

I believe I touched on this in the first answer… because I really love it. I surround myself in design every day and regularly discuss and converse with other designers through the use of my blog. I am also subscribed to about 200 other RSS feeds (subscriptions) that I read on a daily basis – this really keeps me motivated and up to date with what is happening in the design world.

What are some of the trials you’ve been through in starting your business?

There have been many lessons learnt but no mistakes. The first thing that comes to mind is the problems that I have had with my many web hosting providers. Because my business grew so quickly, my web hosts couldn’t keep up with the traffic on my website so it in turn shut down my website which I could not get up again for about 10 days (a huge amount of time in regards to a website being down). So I guess the thing I learnt out of that was to think big – I should have gone with a bigger and better web hosting provider.

The next big trial I went through was actually building up my business and reputation. I put the hard yards in for 6 months straight and it really paid off. I don’t have to do as much as I did before as I have now built my reputation and my loyal readers / clients now do the work for me.

Check out his site and blog at www.justcreativedesign.com - Jacob has some pretty cool articles, downloads, and links to awesome photos on the web!

Share the good news!

I love hearing about and learning about new and cool businesses - either they are new to me because I haven't come across them before, or they are new because they have just started. They provide me with inspiration and even more determination in my own business.

But what I also love to do, and do it ALL of the time, is spreading the love. So whenever I find something new that I think is great and will help someone (website, article, video, email etc) I will send it to the person who I know will benefit from it....straight away! I do it because I love helping people, but it has also turned into a great networking and relationship building opportunity, so it's a win-win!

So in the spirit of sharing the good news here is a great website I have just found that is full of news about new businesses that are popping up around the globe that I think you will like. You never know - it may just be the inspiration you need to start your business, or a great place to find some strategic partners or affiliate marketing opportunities.
Check out http://www.springwise.com/weekly/2008-07-30.htm

Then, my challenge to you is to find 4 great pieces of "news" and send it out to at least 4 people you know of that could benefit from learning/knowing that news. Perhaps find someone in your network, business or personal, that you haven't contacted for a while and use this as a great "hey - how you doing?' contact!!!
So go forth and spread the good news.

PS: Also don't forget about our Frank Team young entrepreneur stuff going on right now.

FREE DOWNLOAD! Our article on Secrets to Systemising Your Business - http://www.frankteam.com.au/entrepreneur/secrets-download.html

JUST ANNOUNCED! Our next Young Entrepreneurs Event - August 14^th - Castle Hill, Sydney - http://www.frankteam.com.au/entrepreneur/free-seminar.html

APPLICATIONS OPEN! Our Young Entrepreneurs Stepping Up Program Sydney - http://www.frankteam.com.au/entrepreneur/marketing-systemise-program.html

Oh to be a millionaire!

In the past year, the number of high net worth Aussies increased by 11 000 - to 172 000. These 172 000 people are worth, on average, $3.2 million each, according to the World Wealth Report released last month.

The most popular things that these people lke to invest in include:
- private jet aircraft
- custom-designed and made yachts
- luxury cars
- fine art
- jewellery

My only conclusion is to get to the point that I can afford my customised yacht and my fine art collection - start my own business!

Profiled: Pick 'n' Drop

Ever heard of Pick 'N' Drop - "a new and innovative service which makes the hassle of drycleaning as easy as answering your door! No need to worry about when or where you send your drycleaning."

I wouldn't be surprised if you hadn't - because they've only been in operation two weeks! We were lucky enough to meet the three young entrepreneurs behind Pick 'N' Drop at our Young Entrepreneurs Workshop at the Sutherland Shire Hub for Economic Development just a couple of weeks ago.

Pick 'N' Drop will pick up your clothes for dry cleaning, and then drop them back when they're clean! They operate in the CBD, Eastern Suburbs and North Shore.

Nallakkumar Karunanithy, one of the three directors, explains below the motivation for starting up a business with his good friends and how the idea came about.

"The opportunity came to us during our brainstorming sessions, all three of us strive in challenging ourselves and we decided to start up our own business, regardless of the industry, just to gain the experience and thrill of doing something for our own benefit rather than working for a particular company or individual. We studied available markets and decided we needed to introduce something innovative and fresh, the Sydney business market/s is flooded with competition, so to start anything in one of those markets would have been near impossible without an endless supply of marketing capital...which we did not have. Our service is practically unheard of, so once we tap into the industry and spread the word, we have no doubt that our service will be useful. Pinpointing the idea was as easy as looking for a particular need in a market, that was not currently being satisfied, and the pick up and drop off idea really caught our attention as being a viable project to look into."

On the first week of operation:
"Things are slow, as always at the start of anything but we've had a few calls/orders and the people using the seem interested, so it looks promising."

And just a little bit about the three directors:
"We're all 23yr olds, known each other through university of Wollongong. I'm doing a Bachelor of Computer Science, my partner Amir does a Bachelor of Exercise Science and Rehabilitation. We're both graduate students who just completed our last semesters, and our third partner is Jay, who's doing a Bachelor of Medical Science and he completes his course at the end of the year. We're more like brothers than mates so its another reason as to why we decided to do this together."

Good luck guys!

http://www.pickndrop.com.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

The Importance of Mentoring

A recent report issued by Deloitte found that chief execs of companies rate mentoring as the second most useful method of improving staff skills. It's also one of the cheapest.

And yet, it's only the fourth most used method. So why isn't it being used more? Particularly considering the skills shortages affecting many businesses of all sizes. Why not take advantage of the expert knowledge, experince and different perspective of those more experienced to increase your skills? You don't need to be mentored by someone within the business - external mentors with relevant skills can be just as, if not more, useful and valuable.

Rated first is in-house training.

Source: BRW May 1-7, 2008, pg. 12.

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?

Awesome Marketing Quotes

Three of our favourite marketing quotes are:

“Marketing is not an event, but a process . . . It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely.” ~Jay Conrad Levinson

"Sell to their needs, not yours." ~ Earl G. Graves

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” ~Peter F. Drucker

What's your favourite marketing quote?

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?

Another Amazing Young Entrepreneur

It never ceases to amaze us here at The FRANK Team the potential in young entrepreneurs. Check out this article on a young entrepreneur from South Australia, Shane Yeend, who started his own business at 15 and (in no particular order) brought the E-Entertainment television network to Australia, created a board game that outsold Monopoly in Australia in 90 days and is now a global market leader in DVD games, among other things!

Who's the most amazing young entrepreneur you know? Or know of? We'd love to hear your opinions!

70% of Gen Ys want to run their own business

Many managers currently working with the ambitions and expectations of their Gen Y staff would not be too shocked with this finding. They know that most Gen Ys believe they should be running the business already. So it is no surprise that 70% of these Gen Ys harbour a vision of one day running their own business. And that ‘one-day’ is not too far away.

This is what the initial findings into the entrepreneurial aspirations of young Australians are finding. The Frank Team has decided to release some early data that is surfacing in their research into young Australians under the age of 35 and their career aspirations.

The Frank Team was founded by young entrepreneur Jessica Kiely and has been working with young entrepreneurs for the last six years. They were seeing more young Australians recognising the need to be entrepreneurial in their careers to get to where they want to, and a large majority having the desire to run their own business at some stage in their careers. However, despite these realisations there were lacking in opportunities to develop these skills and ideas further. The only other research that has been conducted in this area was a research and scoping paper by the Department of Family and Community Services in 2003 that found there were 170,000 young people under the age of 30 currently running their own business.

70% of respondents in the current survey indicated they think they will start a new business venture in the future. The most common barriers to starting their new business venture were all practical in nature, not attitudinal. These barriers included needing start up capital/finance (68%), their idea needed more development (50%) and the need for more education & training (40%).

A range of assistance options were identified by the respondents that they would use if available to help them start their business. The top rated ones were financing (74%), advice (56%), networking with other young entrepreneurs (55%) and training programs (55%).

It was also found that 76% of respondents rated entrepreneurial skills as highly important for their careers. When you consider also that in an average career today’s learner will have 10 – 14 jobs by the age of 38, and most of the jobs that will be in demand in 10 years from now don’t even exist yet, it is clear this entrepreneurial attitude and skills base is essential. So if the skills of innovation, educated risk taking, creativity, negotiation, thought leadership and the other entrepreneurial traits are essential, are they being taught within our schools and tertiary institutions? Our education systems are still designed to produce students with an employee mentality not an employer mentality.

Not only are we missing out on the opportunity to build that entrepreneurial attitude in our youth to get them through this Career phase, but it appears that our organisations are also not harnessing the ideas and enthusiasm of its younger workers. 84% of respondents have suggested an idea to their employer in their careers, and a good majority (68%) are highly comfortable with suggesting an idea to their employer. However, in contrast to the entrepreneurialism of these respondents, only 35% felt their employer was highly supportive of new ideas.

Sure any entrepreneur worth their weight in Richard-BransonNESS can make success happen despite a lack of anything really, but there would no doubt be more starters and faster growth if some of these key resources currently available to the adult market, were also made available to this emerging market in a manner that was relevant and engaging to their styles.

The Frank Team wish to extend the survey reach to build an even better picture of youth entrepreneurship in Australia today. This will help to inform policy and business practices that will assist Australia to remain at the forefront of innovation & business success by utilising and unleashing the entrepreneurial talents of its youth. Please get your young people to visit www.frankteam.com.au and click on the survey link at the bottom of the page.

What are you currently doing to inspire and develop the entrepreneurial skills of your young people or for yourself?

The Frank Team has a range of programs for schools, tertiary organisations and government departments to utilise to develop the entrepreneurial skills and ideas of their young people. Contact us for more info today.

Networking Tips

Networking is something that we are huge fans of here at The FRANK Team! It's a great way to meet like-minded people, make potentially valuable business and personal contacts, and come into contact with a really wide variety of ideas and opportunities.

So many networking contacts aren't followed up, or are made for the wrong reasons. Below is a link to an article with networking tips. Keep it in mind next time you're out there networking!

Check it out from Smart Company here!

What's in it for me?

This is a question probably asked too often by some of us... but if being an enterprising young person doesn’t leave you much time to be generous with, then it’s a question you feel is worth asking. Consider this though - Work experience (giving your time + skills + knowledge) = plenty for you in return. Like that equation? Read on to see how factoring some work experience into your week can help you get places faster!

At FRANK Team HQ over the years we’ve had a few work experience students and volunteers dropping in to get some experience and lend a hand. It’s awesome - we get to meet some great young people who are willing to help out, and they are developing their skills and getting some valuable experience to add to their resumes! It’s a win win situation!

So what’s so good about volunteering VS hanging out for the job you want, I hear you say? There is actually a lot in it for you. It’s not just working for nothing.

- Experience is sometimes valued over a qualification. So you might have a diploma or degree, but employers like to hire people who have some experience up their sleeves as well.
- Put your degree or diploma to work. If you are studying, why not put your learning to use straight away, who says you have to wait until you graduate and get a job?
- You could get a job out of it. If you make a good impression, you'you've got your foot in the door!
- Try before you buy. If you're considering an industry, but not sure and you don't want to commit to study yet, do some work experience first - this will help you decide if you are interested in pursuing that career, or if you need to do some more thinking.
- It's a great way to meet people who are in the industry you want to be in. This can help you get the job you want faster through networking - they will all find out what a hard worker you are. Plus you will be learning from professionals.
- You could find a mentor. You might meet someone in the workplace who inspires you, and embodies who you want to be in your career - support from them will help you succeed.
- It’s an opportunity to develop your skills, and find out what you're good at. Or use the skills you have to help others - we know we've learnt a thing or two from our work experience girls

So... you’re convinced now aren’t you?? Here’s how you can get yourself a work experience opportunity...
- Do some research. Find some local organisations, businesses etc who are in the industry you want to work in. Give them a call to see if they have any work experience positions. If they do, ask if you can go in to meet with them and see if you would like to do some volunteering there. If you don’t have any luck, keep searching... or check out the volunteer opportunities @ seek.com
- If you go in to meet with people and suss out an opportunity, put together a resume so you can show you are serious about having a go and you can display some of your assets!

So what are you waiting for?

Need some creative fuel?

Imagine that...

Albert Einstein said 'Imagination is more important than Knowledge' - but what about in business? When we use our imagination we free our mind from its 'factory pre-settings' to think more creatively and develop different and potentially better ways of doing business.

After years of education where we're often rewarded for following the rules and memorising information rather than exploring it, we look back at young children and wonder where all that fun and creativity went. How can kids spend hours with fuzzy pipe cleaners, textas and coloured paper with sheer fascination?

Imagination is a natural ability in each of us, to which our emories, experience, interests, thoughts, knowledge and freedom contribute. So consider that imagination is always in you, sometimes it just needs encouragement.

Imagination is left and right brain

In business, imagination is used to create a company but we often divide the workplace into creative and practical thinkers. Practical thinkers concern themselves with concrete details and planning, while creative people are known as divergent thinkers, arty and emotive. Rather than dividing us up, what if every one of us possessed both these qualities but just chose a different way of looking at the world?

Take the classic pessimist/optimist battle - two outlooks on life we regularly all switch between depending on our mood and the moment. Hearing your alarm clock go off at 5am hardly compares to winning a million dollars, right? The pessimist looks at life and thinks 'why oh, why?' just as the practical thinker tries to figure everything out. Meanwhile, dreamers and optimists envision imaginative scenarios that haven't happened or might happen, and open-mindedly ask 'Why couldn't that be possible?'.

George Bernard Shaw said, "You see things as they are and ask, 'Why?' I dream things as they never were and ask, 'Why not?'". So imagination is typically a right-brain function that needs to be supplemented with left-brain logic. And you've got both.

You can improve your creative thinking just by exercising it...

Ask Questions - What would you like to do that you've never done before? Where would be the best place in the world to live? What would be the best job? Ask questions that get you thinking outside the square you live in.

Just Do It - Don't sit on the sidelines, firsthand experiences provide new material for your brain to play with, out of which come new ideas. A Chinese proverb states, I hear: I forget - I see: I remember - I do: I understand.

Jet Set - There's no better way to broaden and refresh your outlook than travel. Travel takes you out of a rut and exposes you to new people, customs, ideas and ways of living. Every culture provides a unique way of looking at common situations and solving problems. If the budget bites, arm-chair travel with television programs and books on the world around us, or spend the day in an unexplored part of your city.

The Power of One - The more you apply your ability to think and use the talent around you, the better you'll become at creating new ideas. If you rely on 'experts' and consultants to solve your problems, your creative abilities can dry out.

Hang out with Creatives - Think more creatively by mixing with creative people. Talk to people who possess a different energy who will stimulate your thought processes.

Even more suggestions that provide creative fuel:

- Rent the movie 'Big' or actually go play in a toy store! Play charades or the board game Pictionary to stimulate visual communication.

- Get some fresh air into your lungs & play some sport.

- Play a strategy game like chess or checkers with an opponent.

- Try a word puzzle like a crossword, Boggle or Scrabble to sharpen your mind.

- Hobbies like painting or sculpture are workouts for your imagination.

- Try a technical hobby like amateur radio, electronics or remote control 'toys'.

- Get into a good book like a documentary, biography or mystery and give your imagination something to feed on.

- Read about new trends in a magazine you wouldn't normally buy.

- Doodle or draw with your less used hand.

- Go to the theatre and get immersed in someone else's life.

- Or why not just stare up at the clouds…and daydream.

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!

Free Business Advice

You heard about the Australian Industry Productivity Centres (AIPC)?
Well they are govt funded manned by business advisers. You can get a free business review and find out about matching grants of up to $20,000 to assist you business.
You have to google and find the one in your state. This is the Victorian one http://www.vecci.org.au/professional+services/aipc/index1.asp and then QLD one http://www.improvegroup.com.au/AIPC.html
Not sure of the quality of the advice. Perhaps if you have used them you could let us all know!

I know what it is like when you are starting and you would really LOVE some help, but all of the consultants charge a bundle of cash that you just don't have!!! So this could really help for your start up, development or growth. So check it out!

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?

Cash Up with Online Ordering

Ecommerce is booming. A total of $56.7billion in online trade was conducted in 2005 -06, even though only 29.8 % of Australian businesses had a website. There were about 150,000 businesses taking orders online, at an average of $378,000. (Source ABS)
That is some serious cash being made online.
The main consumer categories are travel, computer hardware and software, nooks, music and video.
So, firstly do you have a website? And then, what can you sell online to take advantage of this move by customers to buy online?

One entrepreneurial type?

Again and again, we come up against the belief that there is a ‘type’ of person who would make a good entrepreneur. One type. That’s it. End of story. We’re here to tell you that that’s WRONG – there is no ONE type of person who makes a good entrepreneur.

Is there one type of person who makes a good salesperson? Is there one type of person who makes a good parent? No, there isn’t. So why would there be one type of person who makes a good entrepreneur? There may be certain traits that many successful entrepreneurs have in common, such as a need for independence, the ability to sell yourself and your business, or a need for constant new challenges, but there is by no means an exhaustive list which you must meet.

Here’s what we reckon, if you’ve got a fab idea you have always wanted to make happen, even better if you have made some of your ideas happen and you’re thirsting for more, if you’ve dreamt of bigger and better in terms of your goals career and lifestyle, if you’re passionate about what you do and always on the lookout for more things to try out and experience to add to that list, then there is some entrepreneur in you, you just have to unleash it! So what are you waiting for?

Competitive advantages for young entrepreneurs

Would you pay a higher cost to ensure our environment is protected? A survey of Australian and US business travellers by the Centre on Ecotourism and Sustainable Development and the international Ecotourism Society found:

• 70 % of Australian travellers would pay a higher cost to stay in a hotel that was more environmentally friendly.
  
• 38 % of US travellers would pay more to use travel companies that aim in helping and saving the environment.
  
• 71 % of Australian travellers and 75 % of US travellers believe that when travelling to overseas countries it is important to not impinge on the local culture, and to keep your impact on the surrounding environment to a minimal.
  

From these survey results, it is clear that Australian and US business travellers are willing to paying a higher than average price in travel if the environment is being taken into consideration. This could be a great business opportunity to young entrepreneurs who want to help the environment and make a profit at the same time. Alternatively, this opportunity could also be taken advantage by those who seek to only make a profit or others who just want to help the environment.

Watch the trends - Create Opportunities

Hands up if you already know that you want to start a business BUT you don't have an idea? Ah yes, at least a handful. I often meet young people through my seminars and workshops who already know that they want to have their own business ("someday") but they haven't yet found that idea to move ahead on. Well, here is some help - watch the trends. Start looking at the statistics about what is happening out there, because that is where opportunity lies. What do I mean? Well below is a statistic I read in BRW recently - benign enough yes, but for the entrepreneur it is a light bulb flashing PICK ME! Have a read.....

Financial Planners Wanted
Australia will need 3000 new financial planners in the next 12 months to cope with growing demands for financial advice, particularly from baby boomers heading for retirement, according to Brisbane’s Griffith University. BRW June 2007

So if you are any way financially inclined then perhaps start training yourself up, and start your own financial planning business. Just you first, and then because of your awesome service and results for your customers you will need to get more people involved as demand for your services grow. And before you know it this trend you noticed as turned into a full blown business. Just like you have always wanted!!!

So what trends have you noticed lately that is a flashing lightbulb to budding young entrepreneurs?

Innovation & Adoption

Ever wondered why some inventions and innovations are adopted or taken on by the mainstream quicker than others? Or perhaps you are working on an idea, prototype or service that is going to be brand new for the market, and you need to work out the best approach to get the market interested in the first place, and then of course getting it MAINSTREAM so everyone wants it! Well I have just come across this great doc that explains the ADOPTION process, or "model of diffusion" if you want the technical term!
http://www.enabling-change.com.au/Summary_Diffusion_Theory.pdf
This not only goes through the teory but gives some really great tips on marketing. For your early adopters, who you have to hook 1st, you need to:
- Get up close and personal with them, through face to face meetings and presentations
- Allow them to experiment and play with the innovation, or allow them to trial it or see it in action
- Get some exposure and attention for those that are adopting the new innovation, showing how "ahead of the pack" they are
- Get regular feedback from them and have them feel like they are part of the ongoing innovation process
- Make them feel very special, build that relationship, give them attention & soon they will start to be your advocates that mean your innovation is that much closer to mainstream adoption!

So all you have to do now is work out who are your early adopters? Find them, target them, hook them and then use them!

Unmet needs of customers

Hunting for opportunities to get your feet into a new business? According to innovation consultants Strategyn Asia-Pacific, 7 out of 10 new product launches never go ahead, simply because the big guys aren’t looking for opportunities where there is that unmet needs. Do you think you are the one who could find out these unmet needs and take advantage of them? The opportunities are endless!

Staff management

Staff management can be tricky, and as a young entrepreneur with not much experience it can be hard to know what to do. What you should know, is that you should always be looking for ways to make your staff feel valued. Because hey, no one can run a business without other people helping them! Check out these suggestions from BRW on what some organisations are doing:

• Laptops
• Bottles of wine
• Mobile phones
• Housekeeping for a weekend
• Crystal glasses
• Gym membership
• Lifetime Qantas Club membership
• Football tickets
• A set of golf clubs
• A frozen turkey

Who knows what the frozen turkey was for!

Opportunities for young entrepreneurs - biz in Fairtrade

Did you know… $8 million was generated from Fairtrade products last year? The market for Fairtrade products has grown by 50%, that makes it the fastest growing industry in the world!! What does this mean? An amazing opportunity for young entrepreneurs to take advantage of! If you are worried that there is no money in ethical or socially responsibly businesses these days, and it is all just about profit, think again! See how you can make the most of this growing market.

Why young people make the best entrepreneurs in the age of the internet

Just read a great article http://many.corante.com/archives/2007/05/19/the_bayesian_advantage_of_youth.php that helps to explain why young people are amaking some of the best enterpreneurs these days. We have grown up with the internet at our finger tips - and it has been the internet that has changed the way business is done. Well, opened up all new possibilities. Have a read!

Testing Your Business or Project Idea

So you’ve had an idea! You think it would make a really great business and are thinking about starting up. So what are some “tests” you should put that idea through to really work out if it’s “the one” you should pursue with all of your time, energy & money? Try these:

Excitement levels
When you think of your idea and turning it into a business, how excited does that thought make you? Starting and running a business takes a lot of heart and soul to make it truly successful, so if the idea doesn’t “rock your boat” in some way then it’s probably not right. The most successful business people will always tell you that passion for your idea and business is essential. So really ask yourself right now, does this idea wake me up at night? Does this idea fill my belly with butterflies when I think of where I can take it? Does this idea lead directly to thoughts of who you could work with on it? If you answered yes to these, then your idea has passed its 1st test!!

Outsiders
Have you told anyone else about the idea? What do they think of it? Of course, you may be worried about people “stealing” your amazing idea, so put due processes in place to protect yourself (MOUs or confidentiality agreements or get some legal advice if you’re truly worried), but then get out there and ask everyone you know what they think! Get them to pick it apart and ask you a million questions. This will help you to see what research still needs to be done, where the holes in the idea are, where there is more potential in the idea and perhaps will show you if the idea is not right in its current form. Of course, “advisers” have been proven wrong before, but no one has built a successful business without the advice of others. If your idea has withstood this barrage, you are doing really well.

Anyone done it before? Why not?
If your idea looks like it will be the “first of its kind” or “too good to be true”, ask yourself, why has no one else had this idea or done something with this idea before. Often the reason why no one has done it before is because it is not a really great idea, or its time has not yet come. Do your research in your industry to really find out why no one has done this before. It could be that the idea is so simple that no one has seen it yet, and it is truly brilliant. Or it could be that others have not seen any value or money in the idea. You need to find that answer for yourself too, to pass this test.

Uniqueness
Every customer you will get, generally, means you are taking them away from someone else! So what is going to make yours stand out such that customers will come to you rather than anyone else? How well do you then know your potential competitors, direct and indirect? Do a SWOT not only on yourself, but also on your competitors. You will learn a lot about your idea with this test.

Start up costs
How much is it going to cost you, and thus how much may you have to risk to get it started? Can you put together a 6 month budget to see what you are going to have to put on the line to start it up? How does that amount make you feel? Perhaps you can get out and sell some of your idea (product or service) at cost or for free to really test your market. Just starting small is a great test for your idea – just selling 1 tutoring lesson, 1 new computer mouse, 1 piece of clothing on ebay – what was the experience like, what was the demand like, get your customer to give you feedback, learn, learn and learn more. This will provide a huge wealth of information that will help to direct your next move in testing your idea further. And by the way, if you do this you have started your business!!!

The market
Of course a general look at your individual industry market and the general economic market can help to test your idea. How are other businesses doing in your area? Are they growing, stable or contracting? Get out there and look at trends, read industry magazines, talk to people in the industry, go to networking events – really submerge yourself in the market you are thinking about. You will get a sense of the vibe and energy around your area. Good vibes = good idea!

The numbers
Now depending on the type of entrepreneur you are and why you are starting, the financial numbers can also help to test your idea. For those of you just wanting to get out there, and get started and see how it goes – do just that, just start now. Others want to see that the “numbers” all add up – that is, that there is going to be profit and good profit in this idea. This will mean putting together at least a 1 year budget backed up with your research of the industry, competitors and market information. Get someone on your team who is really good at all of this stuff, and put your idea up against the toughest test, financial! Here at The FRANK Team we just got started, and then looked at the numbers as the phones started ringing, it has been purely organic from that point onwards

Of course this is all just some general guidance based on our experiences here at The FRANK Team and how we test our ideas as we come up with them – and the tests we have learnt the hard way that you should put your ideas through before going ahead with them. You need to do your own research and then ultimately it is going to be your decision.

And remember, there is no one way or right way when it comes to business. Just make it up!

So what is your great idea? How have you tested it so far?

Jessica Kiely
The FRANK Team

Young Entrepreneurs Workshop!!!

Do you want to start your own business?
Do you want to learn from other young people running their own business?
Do you want to take your business further?

Come along to the Young Entrepreneurs event The FRANK Team is putting on this June!!!

The SSHED- Sutherland Shire Hub for Economic Development is a world class biz incubator helping out biz's in the Sutherland area and they're hosting another Young Entrepreneurs Workshop on the 2nd June from 10am-2pm.

This is a great opportunity for skills training, facilitated networking, and self promotion! It’s run by young people, for young people and it’s free!

We have a great line up of speakers and guests at this year’s workshop, with Luke Janssen from Tigerspike as our key note speaker! And throughout the day you will also hear from other young entrepreneurs, including Jessica Kiely, Director of The FRANK Team!

Plus you: - attend a skills workshop, either:
Effective and fun biz planning for those just starting out!
OR
Another exciting new workshop to be announced
- get feedback on your business ideas from a panel of successful young entrepreneurs
- and there's lots of opportunities for you to make new contacts.

Getting involved again for the third year in a row are Sutherland Shire Council, the SSHED, GROW Sydney, University of Wollongong and the workshop is being run by The FRANK Team.

If you would like more info about the event, a flyer or an agenda, if you've got any questions, or you'd like to register please email me anna@frankteam.com.au or check out our website
http://www.frankteam.com.au/


Hope to see you there!

Frank Team in the Media

http://www.news.com.au/dailytelegraph/story/0,22049,21686930-36437,00.html

Always nice to get some PR! Thanks to our PR Champ Catriona Pollard for setting it up for us. Hopefully this helps to inspire more young entrepreneurs to get out there and give their ideas a go. It's a wild ride, and you never stop getting tested, but you're the one in control (mostly!).

Bring back creativity into education

The FRANK Team is at its core an education & training company - when you strip it back to bare bones. We have a strong desire and passion for real, creative and frank eduation & training, with a particular focus on young people and young entrepreneurs.

We were recently alerted to a fabulous piece that rings the bells on bringing back creativity (and that entrepreneurial spirit) into education. Thank goodness. We so often see young people struggling with the idea of :"what do you really want to do in life" or "being enterprising and creative in your thinking" when all they are concerned about are marks at schools. We created The Frank Team because we could see that young people were not getting access to really good life skills and innovative thinking that will help them create great lives. We loved every word of this eloquent and very humourous piece, and so wanted you to enjoy it as well.

http://www.see.com.au/blog/?p=1850

Watch and then answer:
How did you discover your true talent?

After some reflection I have seen that my true talent is teaching. I never really "discovered" it, but more found that it came very naturally to me and was something I had been doing and enjoying for a long time. And when I combine that teaching ability with my creativity and entrepreneurial spirit you get The Frank Team - which is a company that provides creative education solutions that inspire and empower people to make their career, business and community goals a reality. Our authentic, fun and innovative skills training, guest speakers and resources are especially designed for young people and corporates. So I get to use all of my true talents!

So we ask teachers and curriculum writers to take up the challenge as well - to bring back creativity into education, NOW!

Let us know what your true talent is!

Financial Health of Your Business

For all you entrepreneurs out there, check out this link to Trump University blog! It outlines a quick way to check the financial health of your business – something that is vital to staying in operation!

http://www.trumpuniversity.com/blog/index.cfm?blogpost_id=882

The Average Entrepreneur

I came across an article in BRW (March 1-7, 2007) that details stats on the “average” Australian entrepreneur – if any entrepreneur can be labeled average. Some interesting points were:

- average entrepreneur is an Australian born male (just over 60%)

- more than 80% of all entrepreneurs are within the 30-59 years age bracket

- two thirds of entrepreneurs are running their businesses from home

- the most common level of education attained is high school or a trade qualification

So as us young entrepreneurs start taking over, we can start being the majority hey!

Let’s turn those stats around together!