Archive for March 9th, 2011
On 1 January 2011 the Australian Consumer Law (ACL) commenced. It aims to benefit consumers by giving them the same rights and protections wherever they are in Australia. Basically the ACL has simplified the old laws and made them easier to understand and to enforce. This law benefits you as a consumer in the following ways:
Intellectual property (IP) represents the property of your mind or intellect. It can be an invention, trade mark, logo, original design or the practical application of a good idea. In business terms, this means your proprietary knowledge - a key component of success in business today. IP is often what helps consumers to recognise your business; recently some businesses have even gone so far as to successfully trademark certain colours as their own intellectual property for a particular product category.
A fringe benefit is any benefit you provide to an employee, or to the associate of an employee (such as their spouse or children) in addition to their salary or wages. Some of these items could include.
Your money is constantly moving from one place to the next in a cycle of income, expenditures and investments. Your personal cash flow is described as being the difference between the amount of money you make compared to the amount of money you are spending. Research shows that 75% of Australian families will experience financial hardship at one point, and so it has now become essential that you manage your money wisely in the growing financial market.
Whether expressed explicitly or not, most small business owners and managers have goals for the business they would like to achieve. It’s important to clearly state the goals that you have so that you possess a precise view of the short-term and long-term aims of the business, and can ensure that you are working towards them rather than just looking after the day-to-day needs of the business. Setting goals can also help with the process of determining what needs to be done to improve the business and should always be:
If you are preparing to transition ownership of your business, or just beginning to consider your options for stepping away from the business, it is important to be prepared and have accurate expectations about the sale price. There are a range of factors that have an impact on the price or value of your business and listed below are some of the most important:
The use of colour in marketing is a powerful psychological tool which sends a specific message to your audience. While visual appeal is important, it is a good idea to consider how colour can represent and enhance the appearance of your product and influence the behaviour of potential buyers. Colour is the first thing registered by a person who views your website, logo or packaging; so select your colours wisely and keep in mind the meaning and harmony of colours.
An online presence is now a necessity for a business and it provides a great opportunity for small business to communicate with customers. Some of the benefits that online marketing provides include direct customer engagement, instant feedback and decreased costs. Listed below are some important tips for managing your online presence.
Anyone who owns or is considering starting a business, is best-advised to write a business plan. A business plan is perhaps one of the most important documents that your business can have, and it can be written at any point. It is used to achieve many things, such as seeking start-up finance and engaging suppliers, customers & partners in business, employees, investors and lending banks. However, the most important reason to write a business plan is for your own direction and planning out all future aspects of the business. A business plan serves multiple purposes. A few of these are: