posted Nov 18, 2010 5:42 PM by Lisa Russell
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updated Nov 18, 2010 5:50 PM
]
Attention Entrepreneurs, Business Owners and Sales Professionals!
Do you want to maximize the value of your business? Improve your cash flow, drive up sales and revenue and boost profits to the highest level?
TAKE BACK CONTROL AND BECOME AN ALCHEMY BUSINESS MASTER....
16 weeks FAST TRACK to SUCCESS Profit Acceleration Program with full support, meetings and assistance to stay on track, complete tasks and implement LOW or NO COST Alchemy Network Strategies as well as FULL on Business Growth and Development, changing your Business and your life AND a Cert 4 in Small Business Management* through the RPL process.
We will meet weekly for 3-4 hours (depending on the module) and work through them together implementing these strategies and tools into your business. Each week you will have access to me via phone, email & Skype in addition to our face-to-face meetings, whenever you need it so that you never feel like you are on your own!
Benefits:
- Business Growth Analysis + Instant Alchemy (your FAST track to WINNING cash generation strategies)
- All support & implementation assistance (so you are never left wondering)
- Copywriting & marketing advice & assistance (so your marketing is effective & affordable)
- Business Growth advice with growth strategies (AND assistance with implementation)
- Complete set of Alchemy Business Mastery Manuals (so you have a full reference set for the future)
- Mentoring and feedback (so you know how you are going every step of the way)
- Cert IV in Small Business Management through Small Business Solutions
- PLUS you will get A FREE “Business Check Up’s” – held 6 weeks after completion of your program
- PLUS you will get support via Skype, phone or email for the full 12 months from the date you start right to the finish of the 12 months AND beyond if you need it, we are never more than a phone call away.
Achieve more in the next 12 months than the previous 12 years!
This is the ONLY Business Coaching Program available that delivers all this AND more…On top of ALL that as part of the Alchemy Network International you have access through me to International ideas, feedback and guidance….again this is not available with any other coaching program out there.... That's awesome!
This Program is comprehensive and relevant to all small businesses today, giving you EVERYTHING you need to turn YOUR business into a money making machine and covers:
1. Formulating An Unbeatable Strategic Advantage.
2. Creating Your Business Success Plan.
3. Building A Winning Image And Enduring Brand.
4. How To Get More Customers.
5. Turning Prospects Into Buyers.
6. Making More Money From Each Sale.
7. Radically Increase Your Profit Margin.
8. Increasing The Buying Lifetime Of Your Customers
9. How To Get Your Customers To Buy More Often.
10. Time Management For Busy Business People.
11. Getting The Most Out Of Your Staff.
12. Systemising Your Business.
13. Certificate 4 in Small Business Management
14. Goal Setting, Vision Charts & The Future
Blueprint for Success!
For further information contact Shiralee Wilson Alchemy Network Accredited Partner- Marketing and Business Development Ph: 07 5438 8881 M: 0414 967 951 shiralee@alchemy-network.com |
posted Nov 18, 2010 5:34 PM by Lisa Russell
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updated Nov 18, 2010 5:42 PM
]
Why you should plan your exit strategy while still developing your business?
Exit strategy and succession or continuity planning are vital when it comes to long-term business development. While most entrepreneurs focus on achieving business success, and aim to develop their company and grow their sales, they should never forget that it is not enough simply to develop a business that brings them wealth.
One of the most important aspects is planning how to release that wealth by ensuring that there is always a way to take that money out of the company – i.e. a clear exit strategy. That is why having an exit strategy or a succession plan is as important when you start your business, as it is when it comes time to either sell your business, franchise it, or, in the case of a family business, pass it on to the next generation.
Unfortunately an exit strategy is often never considered until the business owner decides it’s time to retire or move on. At that point it is often too late to implement a properly planned exit strategy and disposing of the business can become something of a scramble, which often results in significant value being lost.
"Selling the business is the Number One planned exit strategy for most business owners"
Who would you sell the business to?
One option is to sell the company to a buyer who is already involved with the organisation at some level, perhaps in the development or management process.
Those in charge of strategic management, planning and development – typically the management team – are likely to be well placed to see how to further grow sales, develop the company, put in place successful systems and strategies. The aim of management teams in taking over the running and development of the company is to build on what they can see works well already and to explore new ways of improving what is not performing so well. One example is the acquisition of the fashion chain New Look by its founder Tom Singh, funded by private equity – an exit strategy based on a management buyout.
If an organisation is growing its customer base, then those who are loyal to the company or the brand and helping to increase sales – the customers – might well be loyal enough to want to buy the brand themselves. In the 1970s, the legendary Victor Kiam famously liked Remington Razors so much that “he bought the company”. Others who pursued the same path are Tony and Ridley Scott, two successful film-making brothers who decided to buy into the company that employed them and acquired Shepperton Studios (now part of the Pinewood Group). Chris Evans, a presenter on Virgin Radio, bought the entire broadcasting operation from his employers and in turn sold the company on, making millions in the process.
Selling a business to your customers, suppliers or associates is a definite endorsement that many of the tools and techniques you’ve been using are popular and will enable the organisation to thrive in the future.
Putting a successful exit strategy in place means planning to ensure continued business success
- By planning your exit strategy you can ensure continuity of succession and business success
- Even when you are starting a business it is vital to have a suitable planned exit strategy in place, enabling you to market your company to those looking to buy and to invest.
- Whether you have a particular schedule or you are selling a business for reasons you can’t predict, you should always prepare for the potential to sell a company by ensuring that you manage your business to maximise its value at all times.
With the right exit strategy in place, it is possible to successfully sell a business, franchise a business or find a new structure to buy into a business. The key is always to make sure that even at the start, when establishing a business, to keep the exit strategy in mind.
Source: Shiralee Wison - Alchemy Business Development Solutions.
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posted Nov 18, 2010 5:29 PM by Lisa Russell
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updated Nov 18, 2010 5:33 PM
]
Succession planning is fundamental for the success of any organisation and is a strategic, systematic and deliberate activity to ensure an organisations future capability to fill future vacancies. It specifically focuses on ensuring the availability and sustainability of a supply of capable staff that are ready to assume key or critical organisational roles as they become available.
Succession planning strategies, which focus on developing employee capability, ultimately enable organisations to respond to change more effectively and attract and retain skilled and valuable employees.
Succession planning may include some reference to recruitment markets, lateral recruitment from other organisations, and in some cases, involve the short-term purchase of skills. A significant emphasis is on the development of internal capability which can contribute to organisational readiness when contingencies occur.
Succession planning forms part of workforce planning which seeks to ensure in general that the right people are in the right place at the right time to achieve successful business outcomes. Like workforce planning, succession planning involves raising strategic questions about the changing nature of work and the sorts of roles that are likely to emerge rather than focusing solely on today’s roles which may not be required in the future.
Source: Queensland University of Technology |
posted Nov 1, 2010 6:59 PM by Lisa Russell
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updated Nov 2, 2010 4:09 PM
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In accordance with the Fair Work Act, an employee has been unfairly dismissed if Fair Work Australia (FWA) finds that:
- they were dismissed, and
- the dismissal was harsh, unjust or unreasonable, and
- the dismissal was not a case of genuine redundancy.
It’s not an unfair dismissal if the employer is a small business employer and they follow the Small Business Fair Dismissal Code when dismissing an employee. A small business employer is defined as someone who employs fewer than 15 employees (up to 1 January 2011 this means 15 full-time equivalent employees) However, from 1 January 2011, this method of calculation will change and will be based on a headcount of each employee, irrespective of hours worked. The headcount includes casuals employed on a regular and systematic basis, employees of associated entities, and the employee/s being dismissed.
When is dismissal unfair?
When FWA considers whether a dismissal is harsh, unjust or unreasonable, they take into account a range of factors including:
- if there’s a valid reason for the dismissal relating to the employee’s conduct or capacity
- if the employee is notified of the reason and given an opportunity to respond
- any unreasonable refusal by the employer to allow the employee to have a support person present at any discussions relating to dismissal
- if the dismissal relates to unsatisfactory performance, whether the employee is warned about this unsatisfactory performance before the dismissal
- the impact of the size of the employer’s enterprise on the dismissal process, including the absence of dedicated human resource management specialists or expertise
- any other factors FWA considers relevant.
Applying for unfair dismissal
Employees wishing to apply for unfair dismissal, must be:
- covered by the national workplace system
- eligible to apply.
To be eligible to apply, the employee must:
- have completed a minimum employment period of at least 6 months (or 12 months if the employer is a small business employer who employs fewer than 15 employees)
at the time of dismissal, be in one of the following categories:
- covered by a modern award or a pre-modern award instrument, such as a federal award, a state reference transitional award or a notional agreement preserving state award (NAPSA)
- covered by an enterprise agreement or an agreement-based transitional instrument, or
- be earning less than $113 800 a year.
If employees believe they have been unfairly dismissed, they can apply to Fair Work Australia (FWA) for a remedy. This must be done within 14 days after a dismissal takes effect, although FWA may accept late applications in limited circumstances. Employees are required to pay an application fee. This fee may be waived on the grounds that its payment would cause serious hardship.
What happens next
Fair Work Australia (FWA) will check the application to see if it’s complete. FWA will notify the employer.
Usually, a conciliation is then arranged, to help both sides to resolve the matter by agreement.
If a resolution can’t be reached, a conference or hearing will be held.If FWA finds that the dismissal was unfair, the employer can be ordered to either:
- reinstate the employee (give back their job), or
- compensate the employee for up to 26 weeks pay (up to a maximum amount of $56,900).
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posted Nov 1, 2010 6:54 PM by Lisa Russell
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updated Nov 2, 2010 4:06 PM
]
From 1 January 2010, the National Employment Standards (NES) replaced the non-pay rate provisions of the Australian Fair Pay and Conditions Standard (the Standard). Under the NES, eligible employees have a right to request flexible working arrangements to assist them to care for their child.
What's a flexible working arrangement?
From 1 January 2010, an employee who is a parent or who has responsibility for the care of a child, may request a change in their working arrangements to assist the employee to care for the child.
Examples of changes in working arrangements may include:
- changes in hours of work (e.g. reduction in hours worked, changes to start / finish times)
- changes in patterns of work (e.g. working ‘split-shifts’ or job sharing arrangements)
- changes in location of work (e.g. working from home or another location).
How to make a request
The request for flexible working arrangements must:
- be made in writing
- set out details of the change sought and reasons for the change.
What does the employer need to do?
As an employer, you must give employees a written response to the request within 21 days, stating whether you grant or refuse the request. You may refuse the request only on reasonable business grounds. If you refuse the request, the written response must include the reasons for the refusal.
What are the employer’s options?
The NES doesn’t require an employer to agree to a request for flexible working arrangements, but refusal must be made on reasonable business grounds, as outlined below. Employers and employees are encouraged to discuss their working arrangements and, where possible, reach an agreement that balances both their needs.Factors that may be relevant in defining reasonable business grounds could include:
- the effect on the workplace and the employer's business of approving the request, including the financial impact of doing so and the impact on efficiency, productivity and customer service
- the inability to organise work among existing staff
- the inability to recruit a replacement employee
- the practicality or otherwise of the arrangements that may need to be put in place to accommodate the employee's request.
What happens if there’s a dispute?
If the parties to the dispute have agreed in an employment contract, enterprise agreement or other written agreement to seek mediation in case of disagreement, the Fair Work Act 2009 empowers Fair Work Australia or some other person to deal with the dispute.
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posted Nov 1, 2010 6:48 PM by Lisa Russell
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updated Nov 2, 2010 4:06 PM
]
Overview
Recruiting someone into your business, regardless of the role, is an important investment. The aim of your recruitment process should be to select the best applicant for the role. You will have a better likelihood of doing this if you can attract the best pool of applicants for a position by using a systematic and fair approach to the selection process. There are many things you should consider such as employment status (i.e. permanent, casual, part-time etc).
Advertising Internally or Externally
All businesses should aim to recruit the best person for every job. In order to encourage and promote employee development, in some circumstances it is appropriate to open vacancies to existing employees who possess the required qualifications, skills and knowledge. A vacancy can be advertised either internally (within the organisation) or externally (when there is no suitable candidate already within the organisation).
The Importance of Not Discriminating
It is essential that applicants are not discriminated against when applying for a role. It is generally unlawful to refuse to consider for employment or otherwise discriminate against any person because of:
- Race
- Colour
- National origin
- Sex
- Religion
- Physical or mental disability
- Marital status
- Sexual orientation or
- Age
You must also ensure that no bias is shown when advertising the vacancy and remember any information obtained for recruitment purposes is to remain private and confidential.
Reviewing the Needs of Your Business
It’s important to review the needs of the business before you replace someone or add a new position and things which should be considered include the development of position descriptions, determining the employment status and the remuneration and benefits related to the role.
Advertising Your Vacancy
Once these components have been completed you are able to look at advertising your vacancy. An advertisement needs to be written in such a way to attract suitable and qualified applicants, therefore you should; be factual and to the point, not exaggerate, use language that is easily understood and include important details relating to the job.
Developing Selection Criteria
It is recommended that selection criteria is developed in order to make the application process fair for everyone and therefore makes it easier for potential applicants to be shortlisted based on qualifications, previous experience and relevant personal behaviours and abilities.
The Interview Process
When preparing for the interview it is easier to have all the questions pre-determined and directly relating to the selection criteria this will help ensure that ensures all applicants are asked the same base questions; in line with EEO principles and, if written correctly, without any reference to discriminative bias. Remember make sure you do not ask anything discriminatory including questions relating to ages, sex, race, religion, ethnic background, marital status, disabilities or family matters.
Interviews should be conducted with at least two interviewers (where possible) and remember the main aims are to verify information that the applicant has provided and assess their capabilities against the key selection criteria. Remember be prepared, ask competency based questions to prompt examples and take notes. Don’t ask long complex or closed questions, show discrimination or express judgements.
Making the Selection
Once the interviews have been conducted it’s now time to make your selection. You should always select the most suitable candidate for the role based on knowledge, skills and abilities in conjunction with their performance in the interview and accompanying information obtained from reference checks.
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posted Oct 4, 2010 5:27 PM by Lisa Russell
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updated Oct 4, 2010 6:45 PM
]
Taking time away from work for a new baby is a common part of working life. The Paid Parental Leave scheme will help parents spend more time at home with a new baby, and help employers keep skilled and valuable staff! Here's what it means.....
FOR EMPLOYERS
When does my role in providing Parental Leave Pay start?
The Paid Parental Leave scheme starts on 1 January 2011. Your role in providing Parental Leave Pay will be voluntary until 30 June 2011. From 1 July 2011, you will be responsible for providing Parental Leave Pay to your eligible employees who have or adopt a child from 1 July 2011, and have worked in your business for 12 months or more and are expecting to receive more than eight weeks Parental Leave Pay. However, you will have the choice to pay your employee if they have worked for your business for less than 12 months, or are accessing less than eight weeks Parental Leave Pay. If you choose not to provide your employee their Parental Leave Pay in these situations, we will pay your employee.
What are my obligations as an employer to provide Parental Leave Pay?
To make sure you meet your obligations to provide Parental Leave Pay to your eligible employees, follow these simple rules:
- Provide your bank account details, employee’s usual pay cycle and pay cut off details to the Family Assistance Office to ensure you receive Paid Parental Leave funds.
- Provide Parental Leave Pay to your employee for their Paid Parental Leave period.
- Provide Parental Leave Pay as part of your employee’s usual pay cycle.
- Withhold tax from Parental Leave Pay under the usual PAYG withholding arrangements. You will need to include Parental Leave Pay in the total amounts on the employee’s annual or part-year payment summary(statements given to the employee for tax purposes).
- Provide a record of Parental Leave Pay for your employee (usually a payslip).
- Keep written financial records of receipt of Paid Parental Leave funds received from us and of the Parental Leave Pay provided to your employee.
Also, you must Notify the Family Assistance Office:
- if and when your employee returns to work before or during their Paid Parental Leave period
- if and when your employee resigns from your business
- if you change your bank account details or your employee's pay cycle, or
- if you receive an incorrect amount of Paid Parental Leave funds or if you are unable to provide Parental Leave Pay to your employee
- if you are ceasing to trade
- if you are selling your business, or
- transferring ownership or merging with another business.
How does my business get ready?
To make sure your business is ready to provide Parental Leave Pay to any eligible employees, you can register for the Paid Parental Leave scheme through Centrelink Business Online Services. If you do not have access to the internet you can call the Centrelink Business Hotline to register.An Employer Business Requirement Statement is available to assist employers, human resources staff, accountants and tax practitioners to prepare for the introduction of the Paid Parental Leave scheme.
For further information about what it means for employees click here. Or for further information about your rights and obligations please contact us now on 07 5444 7771.
Alternatively, you can contact the Family Assistance Office between 8am and 8pm (local time) Monday to Friday on 13 61 50.
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posted Oct 4, 2010 5:15 PM by Lisa Russell
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updated Oct 4, 2010 8:45 PM
]
Taking time away from work for a new baby is a common part of working life. The Paid Parental Leave scheme will help parents spend more time at home with a new baby, and help employers keep skilled and valuable staff! Here's what it means.....
FOR EMPLOYEES
Am I eligible?
You may be eligible for Parental Leave Pay if you:
- are the primary carer of a newborn child or recently adopted child
- are an Australian resident
- have met the Paid Parental Leave scheme work test before the birth or adoption occurs,
- have received an individual adjusted taxable income of $150,000 or less in the previous financial year, and
- are on leave or not working from the time you become the child’s primary carer.
The Paid Parental Leave scheme work test
To meet the Paid Parental Leave scheme work test you must have:
- worked for at least 10 of the 13 months prior to the birth or adoption of your child, and
- worked for at least 330 hours in that 10 month period (just over one day a week), with no more than an eight week gap between two consecutive working days (a working day is a day you have worked for at least one hour). There are some exceptions to the work test if you cannot meet it due to pregnancy complications and/or premature birth.
You do not need to be working full-time to be eligible for Parental Leave Pay. You may meet the work test even if you:
- are a part-time, casual or seasonal worker
- are a contractor or self-employed
- work in a family business such as a farm
- have multiple employers, or
- have recently changed jobs.
- If you work for a family business (such as a farm), you can include your hours of work even if the business is not generating any income, providing you are undertaking the work for financial gain or benefit.
Can I work while receiving Parental Leave Pay?
If you return to work, your Parental Leave Pay will stop. If you decide to return to work before the end of your 18 week Paid Parental Leave period you will need to notify the Family Assistance Office. The unused part of your Parental Leave Pay may be transferred to your partner if they meet the eligibility criteria and claim your unused Parental Leave Pay. The unused Parental Leave Pay may also be transferred to a separated father or their new partner, if eligible.
You can ‘keep in touch’ with your workplace....This means you can participate in activities at the workplace for up to 10 days from the birth or adoption of your child until the end of your Paid Parental Leave period without losing your entitlement. For example, your employer may have scheduled a short training course that you want to attend. This must be a voluntary agreement between you and your employer. Your employer cannot make this a compulsory requirement for you.
Will the Paid Parental Leave scheme affect existing leave entitlements offered by my employer?
The Paid Parental Leave scheme provides you with Parental Leave Pay but does not give you an entitlement to leave. The scheme does not change any of your existing leave entitlements.If you are eligible for the Paid Parental Leave scheme, you will be able to access up to 18 weeks of government-funded Parental Leave Pay, as well as any of your existing employer-provided paid or unpaid leave. You can take your Parental Leave Pay before, during or after any paid maternity or parental leave, or other employer-funded leave entitlements (such as annual leave or long service leave). If your employer currently provides paid maternity or parental leave through an industrial agreement, they cannot withdraw the entitlement for the life of that agreement.
When does Parental Leave Pay start?
From 1 January 2011, you and your employer can agree that your employer will provide your Parental Leave Pay. Your employer will be funded by the Australian Government to do this if you are eligible. If either you or your employer do not agree, you will receive your Parental Leave Pay from the Family Assistance Office.
From 1 July 2011, your employer must provide your Parental Leave Pay if you have worked with them for at least 12 months prior to the expected date of birth or adoption of your child and you will be receiving at least eight weeks of Parental Leave Pay. If this does not apply to your situation, you and your employer can still agree that your employer will provide your Parental Leave Pay after 1 July 2011, provided you are eligible.
For further information about what it means for employers click here. Or for further information about your rights and obligations please contact us now on 07 5444 7771.
Alternatively, you can contact the Family Assistance Office between 8am and 8pm (local time) Monday to Friday on 13 61 50.
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posted Oct 4, 2010 5:03 PM by Lisa Russell
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updated Oct 4, 2010 5:39 PM
]
If you have a nice back-end, you’re going to make a lot of money in sales. Not that back-end! I’m talking about a selling strategy that you simply must adopt right now - the very survival of your business may depend on it.
What is back-ending? Simply, having a second, third, maybe even a fourth product ready to sell after right after you make the first sale. This is the way real money is made in sales, and sometimes, it is the only way a true profit is made.
Amazingly, many businesses don’t do this.
Finding first-time customers is expensive. Advertising, direct mail pieces, sales peoples salaries or commissions, the cost of telemarketing and more. Then your other overhead costs, labor, raw materials, or what you pay wholesale for your retail sale items etc. Calculate the time, agony and effort in getting that customer to put trust in your service or product - only to sell to them just once. What a waste!
Adding it up each customer you attract and sell to can cost as much or more than the profit you make from each sale.
The solution is to make additional sales to each customers you have already bought and paid for with your marketing efforts. Each time you sell more to that customer; it frees you from the need to pay more to find a new customer.
But the point is, once you have a customer; get the most out of him or her because you have expended a lot of resources to find that person in the first place. A customer has to buy goods and services somewhere…it might as well be with you …makes sense really.
Successful back-ending means careful planning. It means having additional products ready to go and available at the time of the first sale this works best when you try to make that second or third sale right away, not two weeks later when the customer has already cooled off, or even maybe forgotten about you.
If you sell shoes, sell shoe polish, maybe a pair of socks. If you sell a shirt, sell a tie, or several ties. If you sell bicycles, sell as many accessories as you can - water bottles, pumps, biking gear eg shoes, gloves, caps and more. If you sell computers, sell software and an extended warranty.
It’s really a simple concept to make back-end sales, but it’s amazing how many businesses never do it. Even if you’re satisfied with the profits you’re making on your first sale right now, and you don’t think you need a second-tier product, think about how much potential income you’re letting pass by, possibly to go into your competitors pockets.
Back ending is the method to continually garnering continuing profits from the customers that you have spent so much money acquiring and worked so hard to get.
So take care of your back-end, and it will take care of you.
Contact: Shiralee Friel
Business: Alchemy Network Sunshine Coast
Phone: 0414 967 951
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posted Sep 7, 2010 8:55 PM by Lisa Russell
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updated Sep 7, 2010 9:02 PM
]
There has never been a better time to implement flexibility within your organisation. Flexibility encompasses many aspects including reduced hours and the ability to work offers. Flexibility is a smart way to reduce overheads and meet employee needs for great work-life balance. Implementing flexibility has been proven to improve productivity, increase morale, reduce turnover and increase levels of job satisfaction.
The Fair Work Act states employers are required to provide “reasonable grounds” if they refuse employees’ requests for flexible hours or leave - research shows that 72% of HR executives take this matter very seriously.
A survey recently conducted by AHRI indicated that:
- Since the Fair Work Act was introduced, approximately one in four respondents (26.32%) report that management in their workplace has less flexibility to dismiss employees.
- Nearly four out of ten respondents (38.6%) report the Fair Work Act has made employee flexibility easier, and nearly half (47.37%) report no change. Only 10.53% say it’s made employee flexibility harder.
- Although more than four out of ten respondents (41.07%) report their organisation is taking more time to manage flexible employee arrangements, less than two out of ten (17.54%) report more time is spent negotiating with unions on flexibility arrangements.
- Around four out of ten respondents (40.35%) report more legal advice is needed in dealing with requests for flexibility arrangements and about the same proportion (42.11%) believe that will continue into the future.
- Nearly four out of ten respondents (39.29%) report more time is now spent keeping records relating to flexible working arrangements than previously.
- Even though employer refusals to grant requests for flexibility are not subject to appeal, more than seven out of ten respondents (71.93%) reported their organisation is likely to take those requests seriously with only 12.28% reporting they are not likely to do so.
- While more than eight out of ten respondents (82.14%) report the culture in their organisation does not insist on employees working to the clock, nearly four out of ten (37.5%) report the culture puts pressure on to work unpaid overtime hours.
- While seven out of ten respondents (70.1%) report senior management openly calls on employees to work sensible hours, six out of ten (61.4%) report that senior management does not model that behaviour
Source: www.ahri.com.au
If you are not sure how to respond to an employee’s request for flexibility in their role or have any other questions regarding flexibility in your organisation, give us a call on 07 5444 7771 and we’ll happily have a chat to you about your options.
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