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	<title>Business Advisor Network</title>
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	<link>http://www.businessadvisor.net.au</link>
	<description>A not for profit organisation dedicated to supporting professional advisors.</description>
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		<title>Do you qualify as a ‘professional&#8217;?</title>
		<link>http://www.businessadvisor.net.au/uncategorized/qualify-professional/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/qualify-professional/#comments</comments>
		<pubDate>Wed, 09 Feb 2011 23:00:51 +0000</pubDate>
		<dc:creator>Peter Hall</dc:creator>
		
		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=996</guid>
		<description><![CDATA[The following short quiz consists of 4 questions and tells whether you are qualified to be a ‘professional’. Scroll down for each answer. The questions are not that difficult. 1. How do you put a giraffe into a refrigerator? The correct answer is: Open the refrigerator, put in the giraffe and close the door. This... <a href="http://www.businessadvisor.net.au/uncategorized/qualify-professional/">Read More</a>]]></description>
			<content:encoded><![CDATA[<p><strong>The following short quiz consists of 4 questions and tells whether you are qualified to be a ‘professional’.</strong></p>
<p>Scroll down for each answer.<br />
The questions are not that difficult.</p>
<p><strong> 1.</strong><em> How do you put a giraffe into a refrigerator?</em></p>
<p><em>The correct answer is:</em><br />
Open the refrigerator, put in the giraffe and close the door.<br />
This question tests whether you tend to do simple things in an overly complicated way.</p>
<p><strong> 2.</strong> <em>How do you put an elephant into a refrigerator?</em></p>
<p><em>Wrong Answer:</em><br />
Open the refrigerator, put in the elephant and close the door.<br />
<em>Correct Answer: </em><br />
Open the refrigerator, take out the giraffe, put in the elephant and close the door.<br />
This tests your ability to think through the repercussions of your actions.</p>
<p><strong>3. </strong><em>The Lion King is hosting an animal conference. All the animals attend except one. Which animal does not attend?</em></p>
<p><em>Correct Answer:</em><br />
The Elephant. The Elephant is in the refrigerator.<br />
This tests your memory. OK, even if you did not answer the first three questions correctly, you still have one more chance to show your abilities.</p>
<p><strong>4. </strong><em>There is a crocodile-infested river you must cross. How do you manage it?</em></p>
<p><em>Correct Answer:</em><br />
You swim across. All the crocodiles are attending the Lion King’s animal conference.<br />
This tests whether you learn quickly from your mistakes.<br />
According to a well-known top-4 consulting firm, around 90% of the professionals they tested got all questions wrong.<br />
But many pre-school children got several answers correct.<br />
The researchers concluded: “This conclusively disproves the theory that most professionals have the brains of a four-year-old”.</p>
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		<title>Nurture creativity or wither away on the vine</title>
		<link>http://www.businessadvisor.net.au/uncategorized/nurture-creativity-wither-away-vine/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/nurture-creativity-wither-away-vine/#comments</comments>
		<pubDate>Mon, 07 Feb 2011 02:30:45 +0000</pubDate>
		<dc:creator>Peter Hall</dc:creator>
		
		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=988</guid>
		<description><![CDATA[ORGANISATIONS THAT FAIL to nurture talent may not survive. According to a study by management consultants McKinsey, the demand for bright, gifted 35-45 year olds will increase by 25%. Unfortunately, over the same period the supply will decrease by 15%. In other words, talent will become the scarce corporate resource, more so than financial capital... <a href="http://www.businessadvisor.net.au/uncategorized/nurture-creativity-wither-away-vine/">Read More</a>]]></description>
			<content:encoded><![CDATA[<p><strong>ORGANISATIONS THAT FAIL to nurture talent may not survive.</strong></p>
<p>According to a study by management consultants McKinsey, the demand for bright, gifted 35-45 year olds will increase by 25%.<br />
Unfortunately, over the same period the supply will decrease by 15%. In other words, talent will become the scarce corporate resource, more so than financial capital or technology.</p>
<p>The ever-present demand for improving competitiveness within organisations means having people who can adapt and innovate.As the business environment constantly changes so staff must be able to change direction in order to keep pace. So how can you raise the creativity within a firm?</p>
<blockquote><p>Achieving a climate in which original thinking — or crazy ideas — are not immediately squashed is a critical factor.</p></blockquote>
<p>Certainly the growth in creativity training courses is an indication that companies are responding to the need. Teaching people the skills to use brainstorming, problem-solving techniques and lateral thinking can be an exciting process.<br />
Taking everyday problems and turning them around by using alternative thinking skills is a process that can be employed in any occupational sector and at every level.</p>
<p>Boots Company plc has appointed a Director of Innovation with a remit to look at all management processes and decide on what needs to be installed or cultural changes made, to ensure that customers get what they want through new products.<br />
Achieving a climate in which original thinking — or crazy ideas — are not immediately squashed is a critical factor.<br />
There is nothing more likely to kill off your staff’s enthusiasm for generating new ideas than a management that responds with “why don’t you put it in writing’ or “our customers would never go for that”.</p>
<h2>More of an art</h2>
<p>While the methods for improving the original thinking within a firm can be quite scientific, nurturing the ideas is much more of an art.</p>
<p>So organising the communication and development of ideas is as important as generating them in the first place.<br />
One way for organisations to overcome this talent gap is to encourage diversity. Many leading companies are still led by white, middle-aged men — and some are recognising that this is a drawback. Sir John Browne, chief executive of BP Amoco, says that diversity is one of four major challenges facing his company.</p>
<p>He recently told a conference: &#8220;My determination is that we should be the company which all the best people want to work for — regardless of background, nationality, gender, colour, political beliefs or lifestyle choice.&#8221; His reasoning is that talent must be drawn from all quarters of society in order to access the widest, most creative range of new ideas.</p>
<p>Inspiration is an intangible asset and it can take many forms to get it going. Looking ‘outside the box’ is a classic term to describe one of the processes.</p>
<p>When Virgin Airways was looking to find new ways to design the plane seat, unchanged for a decade, they avoided the aircraft engineers. Instead they looked at the innovations taking place within the automotive industry and enlisted postgraduates from the Royal College of Art.</p>
<h2>Shaping inspiration</h2>
<p>According to research from Roffey Park Management Institute, senior managers’ inspirational ideas are shaped by what they read, watch and listen to in their private lives. Music and theatre is becoming increasingly used in management training to get around the emphasis on words and find ideas from visual or aural images.</p>
<p>In his book ‘THE CREATIVE PRIORITY’ Jerry Hirshberg, president of Nissan Design International, a US company that produces the designs for the car manufacturer, describes how his organisation ensures successful innovation.</p>
<p>Among the key principles he outlines are: unprecedented thinking, ’beyond the edges’ and synthesis.To add emphasis to his conviction that creative practices can come about in unusual ways, he tells of an episode where the whole team went off to see ‘The Silence of the Lambs’ at the local cinema.</p>
<p>Now that’s different but perhaps not what every manager would consider a work-time solution.</p>
<h2>Major factor</h2>
<p>However, it is the case that finding stimulation from others is a major factor in generating new ideas.And that means putting aside time to let the creative juices flow and make everyone feel safe to open their minds in public.</p>
<p>Remember that the man who created “Post-lts”<br />
had discovered a problem which he then turned into a solution. Serendipity works if you feed it.</p>
<h2>Defining an effective team</h2>
<p>In our business lives we can all look back on teams that have been a joy to work in and others that have been a nightmare.<br />
Even teams that are made up of talented individuals are not always successful.</p>
<p>A study by Cranfield School of Management and specialist consultancy Crane Davies is trying to identify the collective competencies of teams which contribute to effective performance.</p>
<h2>Jazz group and football team</h2>
<p>By an initial study involving interviews and observations of a jazz group, a football team, a project team, a senior management team and a virtual team, the aim is to help managers predict what team competencies are needed according to the stability of the groups and the structure of the task.</p>
<p>As one of the researchers put it: “High performance teams are increasingly business critical. Learning the lessons of why nonbusiness teams invest so much time in rehearsal, training and practise before they perform should help us to advise new and established teams how to produce high performance faster.” ■</p>
<p>Adapted from an article by Peter Williams and Paul Andersen</p>
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		<title>Eight classic web marketing mistakes</title>
		<link>http://www.businessadvisor.net.au/uncategorized/eight-classic-web-marketing-mistakes/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/eight-classic-web-marketing-mistakes/#comments</comments>
		<pubDate>Tue, 01 Feb 2011 23:00:06 +0000</pubDate>
		<dc:creator>Peter Hall</dc:creator>
		
		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=976</guid>
		<description><![CDATA[WITHOUT DOUBT, most of us are constantly finding out new ways to improve our web marketing efforts — this is only natural. However, given that the Internet is jam-packed with sites which have run into all sorts of trouble in their quests to get noticed, I thought I’d list down some of the classic ways... <a href="http://www.businessadvisor.net.au/uncategorized/eight-classic-web-marketing-mistakes/">Read More</a>]]></description>
			<content:encoded><![CDATA[<p><strong>WITHOUT DOUBT, most of us are constantly finding out new ways to improve our web marketing efforts — this is only natural.</strong><br />
However, given that the Internet is jam-packed with sites which have run into all sorts of trouble in their quests to get noticed, I thought I’d list down some of the classic ways to ensure that your site will get no visitors whatsoever — reverse psychology perhaps!</p>
<ol>
<li><strong>Spam</strong> — The surefire way of getting your site blacklisted from the major  search engines. Never ever resort to this nasty method to get noticed. Overusing multiple ‘doorway’ or ‘gateway’ pages (small pages of text,  stuffed with keywords) is a surefire way to get your site banned by the  search engines.</li>
<li><strong>The Wrong Traffic </strong>— It’s great if your website is receiving hundreds of visitors, but are they the type of visitor you want? Make  sure your keywords and other meta tags reflect the true content of what you do, otherwise you’ll be disappointing both your visitors and  yourself.</li>
<li><strong>Single Keywords</strong> — Single keywords aren’t going to hit the bullseye in a  traffic sense. Go for keyword phrases which accurately reflect the theme of your website and the page they’re coded into.</li>
<li><strong>Sloppy Site Design</strong> — There’s no way around this one. Even if you get the  visitors through good web marketing, they’ll leave within seconds if  your site is not up to scratch.</li>
<li><strong>External Links</strong> — Absolutely essential. Many advisors don’t even  have a links page as they feel their visitors will desert them. Not true. Google, for example, looks at the quantity and relevancy of  links coming in and out of all websites to determine its ‘Pagerank’ and  how high a site appears in search results. Exchange links with sites  similar<br />
in theme to yours — go for quality rather than exchanging  links with US-based casino software sites which have no relevance to  your website whatsoever!</li>
<li><strong>Bad Code</strong> — After the search engine robots have visited your site,  they’ll see the meta information first, then they’ll scan your page for  the first chunk of relevant text. A large number of sites have  cluttered code (Javascript usually) after the meta tags. Either have a  re-think, or place any code in a separate file on your server and  ‘include’ it in your web page.</li>
<li><strong>Watch out for SEO ‘Experts’ </strong>—There must be a million so-called ‘search engine optimisation experts’ out there. Make sure you know in advance exactly what you’ll receive in exchange for their promises to boost your site traffic. There  are plenty of good companies out there who can do the work for you, but  seek recommendations from other advisors before making the  decision.</li>
<li> <strong>Patience</strong> — Building up your website traffic will take quite some time from a standing start. Not only is Google rumoured to implement a ‘sandbox’ on new sites to  deter spammers (new sites typically take several months to be ranked  correctly), but link building and publicising your site to others is an  ongoing and essential process.<br />
If you look at web marketing as an  ongoing activity and avoid some of the classic mistakes mentioned in  this article, you should save quite a bit of time and the rewards should  come.</li>
</ol>
<p>Using these tips you will be well on your way to creating a relevant and impressive Internet presence.■</p>
<p>If you would like more information on this topic, please don&#8217;t hesitate to contact us!</p>
<p>Adapted by from an article by <a href="http://www.bytestart.co.uk/">Bytestart</a></p>
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		<title>When the going gets pricey</title>
		<link>http://www.businessadvisor.net.au/uncategorized/when-going-pricey/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/when-going-pricey/#comments</comments>
		<pubDate>Tue, 01 Feb 2011 01:31:20 +0000</pubDate>
		<dc:creator>Peter Hall</dc:creator>
		
		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=970</guid>
		<description><![CDATA[How to keep travel costs down within an ever-tightening budget.

You can't always conduct business by long distance. Sometimes you’ve got to go to where the business is, whether it’s an important client, an international conference, or a high-level executive client meeting.]]></description>
			<content:encoded><![CDATA[<p><strong>How to keep travel costs down within an ever-tightening budget.</strong></p>
<p>YOU CAN’T ALWAYS conduct business by long distance. Sometimes you’ve  got to go to where the business is, whether it’s an important client, an international conference, or a high-level executive client meeting.</p>
<p>Getting there is no longer half the fun, thanks to cutbacks in travel  expenditures that the recession has inflicted on so many consultants.  One survey of travel managers found that 25 per cent have made emergency  spending cutbacks in response to the financial crisis, and 34 per cent  have instituted a freeze on travel altogether.<br />
But when nothing will take the place of looking the other person in the  eye, some smart planning will keep expenses under control. Follow these  tips for trips that won’t break your budget:</p>
<ul>
<li><strong>Book early</strong> (if not often). For the most part, you’ll get the  best  airline rates by making reservations at least three weeks ahead of   time.That makes long- range planning a necessity.You may be able to  get a  good deal at the last minute, but don’t count on it. Booking  early also  gives you time to compare prices and search for deals.</li>
<li><strong>Flexibility can stretch your money</strong>. Early morning and evening  flights  tend to be cheaper, so be willing to endure a little  inconvenience for  the sake of your bottom line. Look at nearby  alternative airports, too. Flying into New Jersey can cost less than a  flight straight to NYC.</li>
<li><strong>Expand your horizons</strong>. A hotel on the outskirts of a major metropolis  will probably be less pricey than one in the centre of town. <em>Remember</em>: your goal isn’t to spend a lot of time in your room.</li>
<li><strong>Look for simplicity.</strong> Consider accommodations that have  kitchens:  Preparing a simple meal is cheaper than eating out three  times a day. If  the hotel offers a free breakfast, take advantage.</li>
<li><strong>Take the low (cost) road.</strong> If you need to rent a car, try to  get away  from the airport first. Rates can be cheaper at rental offices  that  don’t have a built-in stream of business. Don’t use your hotel  parking lot if they charge for the ‘convenience’ —  the public lot down  the street will be usually be more economical. And  avoid valet parking —  those fees can add up quickly. (And you know that  you don&#8217;t need the  supplemental insurance that the car rental agency  will offer, don’t  you?)</li>
<li><strong>Don’t ‘hack’ into your budget.</strong> If you don’t need to rent a  car, but you  need to be downtown — where the airport most certainly  isn’t — consider  mass transit, if available, or a shuttle van. They’re a  whole lot  cheaper than a taxi. Adopt a similar strategy for getting  around  town, too, with one exception: if you’re a focal point of a   presentation, grab a cab. The savings from taking the subway will cost   you if you arrive looking like an unmade bed.</li>
<li><strong>Don’t turn molehills into mountains of money.</strong> Keep the small  stuff from sweating your budget down to nothing. Pack light so you can  carry your bag onto the plane instead of paying an additional fee to  check your luggage. Avoid hotel restaurants, gift shops and minibars.  Fill up your car before you return it or you’ll pay extra.</li>
</ul>
<p>Maybe you can’t stay home all the time. But if you’re going to spend  money making money, be sure you spend it where it’ll do the most good. ■</p>
<p>Adapted from an article by John M Cowan,<br />
<a href="http://www.ragan.com/WritingEditing/WritingAndEditing.aspx">Ragan eNewsletters</a></p>
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		<title>Thinking Strategically about Retaining and Rewarding Employees</title>
		<link>http://www.businessadvisor.net.au/uncategorized/thinking-strategically-about-retaining-rewarding-employees/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/thinking-strategically-about-retaining-rewarding-employees/#comments</comments>
		<pubDate>Wed, 17 Nov 2010 03:48:52 +0000</pubDate>
		<dc:creator>Web Admin</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=793</guid>
		<description><![CDATA[If your client is thinking about investing in human capital – in ways that will retain employees, think carefully about whether their investment will pay off.  Not just the investment they make when they employ staff, I mean real investment; the investment that is made over and above weekly or fortnightly wages. Since McKinsey first... <a href="http://www.businessadvisor.net.au/uncategorized/thinking-strategically-about-retaining-rewarding-employees/">Read More</a>]]></description>
			<content:encoded><![CDATA[<p>If your client is thinking about investing in human capital – in ways that will retain employees, think carefully about whether their investment will pay off.  Not just the investment they make when they employ staff, I mean real investment; the investment that is made over and above weekly or fortnightly wages.</p>
<p>Since McKinsey first coined the phrase “War for Talent”, much has happened to shape our thinking about attraction and retention.  Labour is now more mobile than ever before.  In America 1/3rd of the workforce is mobilised into part time or casual employment.  In Australia we are trending the same way as part of a global trend.</p>
<p>We have reached a new and unfamiliar era of what was once just simply the “labour market”.  What we now have is the scarce commodity of human capital, eyeing up business as a potential “meal &amp; career ticket” to the next big thing!</p>
<p>If we don’t learn to adapt and work with the pool of talent with its need for money, status and promise of once unheard of enticements, then the pool will be totally devoid of all potential leaving a few to complete all the work.</p>
<p>When the old methods cease to work we must look outside the square to understand and accommodate the needs of the 21st century workforce.</p>
<p>What is emerging is a new paradigm, one that challenges us to rethink retention and view our employees – past, present and future as partners of your client&#8217;s business.  Thinking strategically about retaining and rewarding employees by:</p>
<p>•    Thinking Relationship Management – building a social network of past, present and prospective talent<br />
•    Thinking Total Rewards System – initiating financial models that compensate and both reward and invest in the future of high performance talent<br />
•    Thinking Engagement Model – entrepreneurial contracts and project based engagement that fulfils the drive for mobility<br />
•    Thinking about how to access talent that provides sustainable delivery of our products and services</p>
<p>The world has changed: Employee mobility is the norm and it is becoming a global phenomenon.</p>
<p>It is time to consider</p>
<p>•    How can my client deliver their products &amp; service in a labour market where supply fluctuates?</p>
<p>•    How can my client leverage employee mobility?</p>
<p>In a research report by Brian Wilkinson, head of Randstad UK, said: “There is a gap between what organisations think will motivate their key talent to stay with them and what their employees actually say will retain them. The research also showed that a quarter of workers, who are not actively looking, would consider changing employer if something attractive came up.”</p>
<p>He added: “It is important that organisations act now to resolve this gulf in understanding, otherwise they risk losing talented people who have up-skilled during the recession and made themselves more valuable.”</p>
<p>Two very poignant pieces on this issue are<br />
Dan Pink on the surprising science of motivation published by TED.com and “Rethinking Employee Retention” by Associate Professor of Human Resource Management at Melbourne Business School, Ian O. Williamson</p>
<p><a href="http://www.ted.com/talks/lang/eng/dan_pink_on_motivation.html" target="_blank">http://www.ted.com/talks/lang/eng/dan_pink_on_motivation.html<br />
</a><br />
<a href="http://www.mbs.edu/go/episode/rethinking-employee-retention?play" target="_blank">http://www.mbs.edu/go/episode/rethinking-employee-retention?play </a></p>
<p>The concept of Total Rewards is not new; the approach however should be designed with global trends in mind.  It makes perfect sense to take the design of a Total Rewards program to the people who are at the “bullseye” of its strategic trajectory.</p>
<p>Step 1</p>
<p>Ask your client&#8217;s employees what they “value” about their business and the work they do for the business.  There are more than a dozen reasons that keep employees motivated to come to work each day and only part of it is their take-home pay.</p>
<p>Step 2</p>
<p>Develop a multi-option parcel of incentives.  We humans all have different values in life and so just money or just an annual bonus will never be embraced by 100% of employees.  It is time to tailor the Rewards to their needs and not what has ineptly been decided in the Boardroom or at a Managers’ meeting.</p>
<p>It is the level of respect demonstrated by manager in an “engagement” model that will lead to the greatest degree of buy-in to a Total Rewards program.  Assuming a “one size fits all” is the old paradigm and will fail to address the global shift in the market.</p>
<p>Develop a “talent” plan – which former employees can you engage with via social networking and relationship management.  Who is working for the competition that you would like to attract to your client&#8217;s business?  What are the criteria for their ideal new employees?  (When they come knocking at your door it would be wise indeed to recognise them!  Ask the guys at Google, they create jobs for top talent)</p>
<p>Step 3</p>
<p>Develop a “pool” to fund Step 2.</p>
<p>Step 4</p>
<p>Develop a distribution method for the pool.  There are many ways of slicing up the pie for distribution and every business will have unique requirements for how this should be done.</p>
<p>Take Action</p>
<p>Shirley Farrell HR Management Services has been involved in the design and implementation of Total Rewards systems and talent management planning for over 10 years.</p>
<p>By Shirley Farrell</p>
<p>web: <a href="http://shirleyfarrell.com.au/" target="_blank">http://shirleyfarrell.com.au/</a></p>
<p>email: hr@shirleyfarrell.com.au</p>
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		<title>The Present</title>
		<link>http://www.businessadvisor.net.au/uncategorized/present/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/present/#comments</comments>
		<pubDate>Wed, 13 Oct 2010 08:33:57 +0000</pubDate>
		<dc:creator>Web Admin</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=785</guid>
		<description><![CDATA[Imagine there is a bank which credits your account each morning with $86,400.  It carries over no balances from day to day, allows you to keep no cash balance, and every evening cancels whatever part of the amount you had failed to use during the day.  What would you do?  Draw out every cent of... <a href="http://www.businessadvisor.net.au/uncategorized/present/">Read More</a>]]></description>
			<content:encoded><![CDATA[<p>Imagine there is a bank which credits your account each morning with $86,400.  It carries over no balances from day to day, allows you to keep no cash balance, and every evening cancels whatever part of the amount you had failed to use during the day.  What would you do?  Draw out every cent of course!</p>
<p>Well, everyone has such a bank.  Its name is TIME.  Every morning, it credits you with 86,400 seconds.  Every night it writes off, as lost, whatever of this you have failed to invest to good purpose.  It carries over no balance.  It allows no overdraft.  Each day it opens a new account for you.  Each night it burns the remains of the day.  If you fail to use the day’s deposits, the loss is yours.  There is no going back; There is no drawing against the tomorrow.  You must live in the present on today’s deposits.  Invest so as to get from it the utmost in health, happiness and success!</p>
<p>The clock is running.  Make the most of today.</p>
<p style="text-align: center;">Yesterday is history</p>
<p style="text-align: center;">Tomorrow is a mystery</p>
<p style="text-align: center;">Today is a gift</p>
<p style="text-align: center;">“That’s why it’s called the present”</p>
<p style="text-align: left;">- By Anonymous</p>
<p style="text-align: left;">
<p style="text-align: left;">Just some food for thought,</p>
<p style="text-align: left;">Peter Hall</p>
<p style="text-align: left;">
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		<title>Four Ways To Differentiate Your Consulting Business</title>
		<link>http://www.businessadvisor.net.au/uncategorized/four-ways-to-differentiate-your-business/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/four-ways-to-differentiate-your-business/#comments</comments>
		<pubDate>Fri, 08 Oct 2010 02:37:10 +0000</pubDate>
		<dc:creator>Web Admin</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=585</guid>
		<description><![CDATA[There are a number of ways that you can get your advisory business to &#8216;stand out from the crowd&#8217;. Indeed, the market you operate in may be very competitive and you need to attract the right sort of customer to buy from you, rather than your competitors. In this brief article I will look at... <a href="http://www.businessadvisor.net.au/uncategorized/four-ways-to-differentiate-your-business/">Read More</a>]]></description>
			<content:encoded><![CDATA[<p>There are a number of ways that you can get your advisory business to &#8216;stand out from the crowd&#8217;. Indeed, the market you operate in may be very competitive and you need to attract the right sort of customer to buy from you, rather than your competitors. In this brief article I will look at a few ways in which you can differentiate your consulting business from other firms in your industry.</p>
<p><strong>Specialisation</strong></p>
<p>It may be possible to offer a particular speciality in connection with the service you sell. For instance, a general accountant may decide to focus more of their time on Inheritance Tax and advertise that speciality where as a consultant might want to focus on fixing the business in general. If you offer a range of services then you may consider just specialising in providing one type of service to your clients. Deciding to specialise in a particular product or service should be supported by the fact that it will be a more profitable move for the business and more favourable than your competitors.</p>
<p><strong>Promptness of Service</strong></p>
<p>It could be that you promise to deliver your services more quickly than your competitors. For example, you could guarantee<em> next day</em> delivery for a report that a customer has ordered from you or make yourself avaliable for meetings and sessions more often than others. If you wish to differentiate your business on this basis then it is important that you offer a client a solid guarantee. By solid guarantee, I mean that if you do not deliver on time they will get something back due to the inconvenience that has been caused to them. In other words, put the client first, make sure that they believe that they are the most important thing in your schedual.</p>
<p><strong>Local Business/ National Business/ International Business</strong></p>
<p>As a consulant, you may wish to differentiate yourself on a geographical basis. For example, it could be that you provide your advisory service to local businesses but this market is saturated. Therefore, you might consider it being worthwhile to offer the same service on a national basis, this can get tricky with face-to-face meetings but there are plenty of good tools out there to help with you; this would involve an element of re-branding your business to give it a national identity. The same principle can be applied to a business which wants to specialise in a local or international market. Differentiating on this basis also requires more marketing on your behalf and can increase an advisors workload a lot, however it is very beneficial and profitible in the long run.</p>
<p><strong>Premium Product or Service</strong></p>
<p>When your competitors are all cutting their costs and lowering the quality of their services, one option would be for you to stand firm on your prices or even raise them. If you choose this course of action, you will need to convince your customers that they will pay you more but get a better quality product or service. There are many products we come across everyday, some very famous brands, which use this premium product strategy. For a consultant, developing a reputation of being hard working and providing work of a high quality is one of the most important things you could do.</p>
<p>As we have seen, there are a number of ways to differentiate your business from your competitors. Whichever strategies you decide to use, you will need to make sure that you undertake some thorough market research before you take action.</p>
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		<title>Why is Benchmarking Important?</title>
		<link>http://www.businessadvisor.net.au/uncategorized/benchmarking-important/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/benchmarking-important/#comments</comments>
		<pubDate>Thu, 12 Aug 2010 23:00:32 +0000</pubDate>
		<dc:creator>Web Admin</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=689</guid>
		<description><![CDATA[Why is Benchmarking Important in Business? &#8220;Did you ever imagine that you could get confidential, real time, comparison of my business with other businesses in your industry sector, so easily.  You can&#8217;t see individual business data but you can now directly compare your business to your peers as a group&#8221; Benchmarking is a systematic process... <a href="http://www.businessadvisor.net.au/uncategorized/benchmarking-important/">Read More</a>]]></description>
			<content:encoded><![CDATA[<h1>Why is Benchmarking Important in Business?</h1>
<p><em><strong>&#8220;Did you ever imagine that you could get confidential, real time,  comparison of my business with other businesses in your industry  sector, so easily.  You can&#8217;t see individual business data but you can  now directly compare your business to your peers as a group&#8221;</strong></em></p>
<p>Benchmarking is a systematic process for comparing business  performance or processes in different organisations, or between groups  of organisations, to learn whether, and how, things may be done better.</p>
<p>The purpose of benchmarking is to improve performance or services by  identifying where changes can be made in either what is done or how  things are done. The best businesses have long been making comparisons  between themselves and others without necessarily labelling the exercise  as benchmarking. However, true benchmarking is more than just ranking  yourself against others or creating league table.</p>
<h3>Benchmarking differs from other improvement techniques because it:</h3>
<ul>
<li>focuses on excellence;</li>
</ul>
<ul>
<li>involves detailed comparisons;</li>
</ul>
<ul>
<li>pools shared information to benefit all the contributors; and</li>
</ul>
<ul>
<li>encourages front line managers and staff in seeking out and implementing change.</li>
</ul>
<h3>Key Benefits of Benchmarking for your business.</h3>
<p><em><strong>&#8220;As an advisor I can now see the impact of  the help I give my clients on a month to month basis.  Imagine how much  more effective that makes me as an advisor!&#8221;</strong></em></p>
<p>Financial benchmarking can provide businesses with the evidence they  need to identify significant differences in resource management, which  may suggest there is scope to do things better, to improve efficiency,  reduce costs or identify potential savings.</p>
<h3>How does it work in practice?</h3>
<p>Typically, businesses will contribute their information about their  own financial performance to an independent confidential organisation so  comparison can be made to grouped data from similar businesses. There  is, however, sometimes merit in a business comparing itself with a  different type of organisation that may be facing similar challenges.  For example, a service business that struggles to grow sales may learn  some useful tips by comparing its approaches with say, service  businesses of a different scale.</p>
<p>The benchmarking service enables businesses to request charts that  compare their income and expenditure profile with that of similar  businesses. The service includes information for all maintained  businesses in Australia through individual businesses regularly  uploading their own business data. Typically this is at the end of each  month and provides close to real time comparison for your business. Any  business can subscribe to use this service. Reporting is available for  Key Performance Indicators (KPI) like profitability, return on  investment, liquidity, capital structure, productivity and activity.  Reporting is also available for the standard profitability performance.  High level comparison is available within your industry sector and your  rank within a specific peer group like an industry association, without  disclosing your actual data or rank position to that association or to  other members of the group. This comparison is between your business and  the aggregated data only where there are more than five businesses in  the group.</p>
<p>Find out about joining the hundreds of other businesses that <a href="http://www.businessadvisor.net.au/Benchmark_Program/">subscribe to the benchmarking service </a></p>
<h3>So how can I use benchmarking in the current economy?</h3>
<p>An example is a business that suffers a significant decline in sales  due to economic factors. They can compare themselves to others in the  industry to identify if this is industry wide or actually their  individual business. No, this doesn&#8217;t solve the problem, but it helps to  identify the potential causes. Then the business can monitor it&#8217;s  performance compared to its peers and work out what actions are more or  less effective than its peers during the recovery phase.</p>
<h3>Data and Access Protection</h3>
<p>You cannot see anyone elses data and no one can see yours.  You can  only compare your results to the overall results of your industry sector  or group.  Data is uploaded to an independent third party secure server  and access is only available to staff with adequate security clearance  and then only for the generation of reports. Once you upload your data  we will be able to generate reports for you that compare your  performance to the grouped data from similar businesses in your peer  group or industry sector.</p>
<h4>By Virtual Advisor</h4>
<h4>Find out about joining the hundreds of other businesses that <a href="http://www.businessadvisor.net.au/Benchmark_Program/">subscribe to the benchmarking service here&#8230;</a></h4>
<p><a href="http://www.businessadvisor.net.au/Newsletter_Registration_Confirmation/" target="_blank"><strong>Add your details</strong></a> to receive important  and        vital business building information such as:</p>
<ul>
<li>Government and non government  grants,          support packages and programs for business in Australia.</li>
<li>Seminars, events,  workshops, training          scheduled in Australia.</li>
<li>The Virtual Advisor blog  with heaps of          free information about growing your business.</li>
</ul>
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Find out about <a href="http://www.businessadvisor.net.au/Resources/JobsAssist_Program/" target="_blank"><span style="text-decoration: underline;">Government Grants for Queensland business</span></a>?<br />
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		<title>Managing Delays in Implementing Business Strategy</title>
		<link>http://www.businessadvisor.net.au/uncategorized/managing-delays-implementing-business-strategy/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/managing-delays-implementing-business-strategy/#comments</comments>
		<pubDate>Fri, 23 Jul 2010 07:46:22 +0000</pubDate>
		<dc:creator></dc:creator>
		
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		<description><![CDATA[Implementing a business strategy is often slowed down or even put on hold because of having to deal with day-to-day operational issues — like fighting fires.  There is a simple way to deal with this issue; all it requires is the will to make it work and the discipline to act.

]]></description>
			<content:encoded><![CDATA[<p>Implementing a business strategy is often slowed down or even put on hold because of having to deal with day-to-day operational issues — like fighting fires.</p>
<p>Fighting fires often takes the management team on an extended journey of dealing with the demands of “immediacy” or the focus on the here and now rather than the future.</p>
<p>There is a simple way to deal with this issue; all it requires is the will to make it work and the discipline to act.</p>
<p>Start with setting time aside for the management to meet on a regular and structured basis. Make sure the timing is immutable and that all key people commit to the process. Take the meeting off line from the business or make it after hours if necessary.</p>
<p>This meeting should be set up, say monthly, with a specific agenda to deal with strategy-only topics.</p>
<p>The operational plan and budget should be driven from the revenue targets in the strategic plan.</p>
<p>Medium or even some smaller sized companies should consider creating their own “Office of Strategy Management” This could comprise in house team members coupled to external professional advisors that help to coordinate the activities needed to manage the strategy.</p>
<p>Naturally the executive team still needs to maintain their focus on operational improvement as well.  However in today’s environment planning your strategy and carrying it out is critically important.</p>
<p>Here are the key action points to consider.</p>
<ul>
<li>Develop the strategy based on where you want to be.</li>
<li>Plan the activities needed to make this happen.</li>
<li>Align the organisation so there is support for the strategy.</li>
<li>Devise the action plans to make the activities happen.</li>
<li>Monitor and learn.</li>
<li>Test and adapt.</li>
</ul>
<p>by Neil Fairley</p>
<p>Workforce Advisors Group</p>
<p><a href="http://www.businessadvisor.net.au/Newsletter_Registration_Confirmation/" target="_blank"></a></p>
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<ul>
<li>Government and non government  grants,          support packages and programs for business in Australia.</li>
<li>Seminars, events,  workshops, training          scheduled in Australia.</li>
<li>The Virtual Advisor blog  with heaps of          free information about growing your business.</li>
</ul>
<p>How to <a href="http://www.businessadvisor.net.au/Advisor_Meeting_Application/" target="_blank"><span style="text-decoration: underline;">book a meeting with a business advisor</span></a>,  mentor or coach?<br />
Find out about <a href="http://www.businessadvisor.net.au/Resources/JobsAssist_Program/" target="_blank"><span style="text-decoration: underline;">Government Grants for Queensland business</span></a>?<br />
Would you like to become an<a href="http://www.businessadvisor.net.au/Advisors/Advisors/" target="_blank"> <span style="text-decoration: underline;">Accredited Advisor</span></a>?<br />
Need information on how to <a href="http://www.businessadvisor.net.au/Thinking_Business/" target="_blank"><span style="text-decoration: underline;">prepare a business plan</span></a>?<br />
Do you want a step by step guide to <a href="http://www.businessadvisor.net.au/Thinking_Business/" target="_blank"><span style="text-decoration: underline;">growing your business</span></a>?<br />
Become a <a href="http://www.businessadvisor.net.au/Sponsors/Sponsors/#partnerform" target="_blank"><span style="text-decoration: underline;">sponsor or partner of BAN</span></a> and  connect with small business decision makers?<br />
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		<title>10 components for success in business – part 8, 9 and 10.</title>
		<link>http://www.businessadvisor.net.au/uncategorized/10-components-for-success-in-business-part-8-9-and-10/</link>
		<comments>http://www.businessadvisor.net.au/uncategorized/10-components-for-success-in-business-part-8-9-and-10/#comments</comments>
		<pubDate>Sun, 04 Jul 2010 23:00:58 +0000</pubDate>
		<dc:creator>Web Admin</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.businessadvisor.net.au/blogs/?p=602</guid>
		<description><![CDATA[10 components for success in business &#8211; parts 8, 9 and 10. 8. Comprehensive Corporate Profile A corporate profile contains all the relevant information and documentation. Before companies meet you to explain your goods and services, they need to be convinced by what they see in your profile. A profile is almost like a CV... <a href="http://www.businessadvisor.net.au/uncategorized/10-components-for-success-in-business-part-8-9-and-10/">Read More</a>]]></description>
			<content:encoded><![CDATA[<h3><strong>10 components for success in business &#8211; parts 8, 9 and 10.</strong></h3>
<p><strong>8.   Comprehensive Corporate Profile</strong></p>
<p>A  corporate profile  contains all   the relevant information and  documentation. Before  companies meet you  to  explain your goods and  services, they need to  be convinced by what  they  see in your profile. A  profile is almost  like a CV of your  business .  Some corporates are  creative enough as  they make the  profiles on  interactive DVDs or CDs  which they send out  to the  corporate work. Your  profile would  generally contain what you  find on  the main website of the  company. It  covers your background as  a business, your vision and  values, it also  gives details of  product lines you  specialize in, the  team&#8217;s  individual write-ups  (miniature Cvs) which  spell out skills and   experience, reference  sites where you have  provided the services  before.  This document  speaks on your behalf in  your absence hence it  has to be  of high  standard, something that  encourages the customer to  continue  reading.  The marketing team can be  used to come up wit this  plan.</p>
<p><strong>9.   Research and Development</strong></p>
<p>The  strength in every leader  is the ability  to  manage change, to be able to  run the business based  on best  practice  and setting standards that  many would want to  follow. To do  that a great  amount of time and money  must be spent on  R&amp;D. When  you do this you  will find out how not to  do certain  things, avoiding  the pitfalls of  others and most  importantly you stay  abreast with  latest trends.  Excellence is achieved  as you continue to  for the  development not only  of the product but of  the employee who is  also a  producer. As you  research and get knowledge,  pass it on to  those in  your team.</p>
<p><strong>10.  Safety, Health and  Environment (SHE)  Policy</strong></p>
<p>It  is no longer possible to  just do business  without  considering the  impact we make on the  environment. The world is  going  green ,  eco-friendly products and  processes. Before you make  your  packaging,  consider what it does to the  environment on disposal.  In  your  production line, the safety of your  employees is of utmost    importance. Unsafe environments can easily be  shut down by authorities.    If you produce goods in filthy environment,  you will endanger both   the  employee and the consumer. Any industry which  is production   oriented,  manufacturing, factory, heavy machinery based  processes   calls for  leadership to put priority on SHE. What use is your  mining   venture if  in one minute you can lose 400 employees in a shaft?  If you   cannot  invest in SHE, the best advice one can give change the  line  of  business  rather than risk people&#8217;s lives.</p>
<p>This is the last post in this series of 10 components for business success.</p>
<p>Stay tuned for more blogs soon.</p>
<p>Kind regards,</p>
<p>Virtual Advisor</p>
<p><a href="http://www.businessadvisor.net.au/Newsletter_Registration_Confirmation/" target="_blank"></a></p>
<p><a href="http://www.businessadvisor.net.au/Newsletter_Registration_Confirmation/" target="_blank"><strong>Add your details</strong></a> to receive important  and        vital business building information such as:</p>
<ul>
<li>Government and non government  grants,          support packages and programs for business in Australia.</li>
<li>Seminars, events,  workshops, training          scheduled in Australia.</li>
<li>The Virtual Advisor blog  with heaps of          free information about growing your business.</li>
</ul>
<p>How to <a href="http://www.businessadvisor.net.au/Advisor_Meeting_Application/" target="_blank"><span style="text-decoration: underline;">book a meeting with a business advisor</span></a>,  mentor or coach?<br />
Find out about <a href="http://www.businessadvisor.net.au/Resources/JobsAssist_Program/" target="_blank"><span style="text-decoration: underline;">Government Grants for Queensland business</span></a>?<br />
Would you like to become an<a href="http://www.businessadvisor.net.au/Advisors/Advisors/" target="_blank"> <span style="text-decoration: underline;">Accredited Advisor</span></a>?<br />
Need information on how to <a href="http://www.businessadvisor.net.au/Thinking_Business/" target="_blank"><span style="text-decoration: underline;">prepare a business plan</span></a>?<br />
Do you want a step by step guide to <a href="http://www.businessadvisor.net.au/Thinking_Business/" target="_blank"><span style="text-decoration: underline;">growing your business</span></a>?<br />
Become a <a href="http://www.businessadvisor.net.au/Sponsors/Sponsors/#partnerform" target="_blank"><span style="text-decoration: underline;">sponsor or partner of BAN</span></a> and  connect with small business decision makers?<br />
I wish to <a href="http://www.businessadvisor.net.au/Contact/Donations/" target="_blank"><span style="text-decoration: underline;">make a donation</span></a> to help small  business.</p>
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