| We all know that a building has to have a
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| | minutes. I would have left long before. I
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| strong foundation if it is to survive,
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| | am never that hungry. They are now out of
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| so, too, a business.There are many planks
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| | business.A kitchen renovator had a unique
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| that support a business but there are
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| | quality product and used an excellent
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| four corner-posts that bear the most
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| | installer. His price was very low
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| weight...The four corner-posts are
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| | compared to others in the area. They are
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| Marketing, Selling, Production and
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| | now out if business.You can produce low
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| Financial Control. There are a multitude
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| | quality items at a low price and a high
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| of other aspects which helps to make a
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| | quality product at a high price, but you
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| business profitable. For example,
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| | will lose your shirt if you try to sell
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| customer service, adequate capital, and
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| | low quality products at a high price or
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| location.But I can guarantee that if a
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| | high quality items at a low
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| firm is failing in any one of marketing,
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| | price.Financial ControlFor some reason
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| selling, production or financial control
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| | this is the area in which most small
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| the business will fail.And that's the
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| | businesses fail.One reason is that
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| chief difference between a small business
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| | bookkeeping is a skill that can be easily
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| and a big business. A big business has
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| | learned (especially with all the
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| whole departments to oversee each of
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| | accounting packages available).
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| those functions and it has people who do
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| | Accounting, however, is a discipline that
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| nothing else but make decisions
| |
| | requires 3 to 5 years of study and a
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| (manage).You must carry out all four
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| | lifetime of learning.Yet the small
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| functions and manage at the same
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| | business owner tries to do it all himself
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| time.MarketingI have been counseling in
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| | at the same time as all his other
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| small business for 30 years and still
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| | functions. Or he leaves it totally to his
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| find people who do not know what
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| | 'girl' who cannot do it either.But the
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| marketing is.At seminars I ask about
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| | success for any task is reliant on the
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| their marketing and it almost certain one
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| | ability to measure every important
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| or more participants will say, "Well, we
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| | aspect. In a restaurant we measure the
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| advertise in the local give-away
| |
| | value of wages against sales for the same
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| newspaper". Advertising is not marketing.
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| | period. Is your wages 45% of sales?
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| It's only a tool of marketing.To use any
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| | That's too high. Let's work out how we
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| marketing tool you must know who your
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| | can reduce it."We put 50% on our
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| target is and you must know what you're
| |
| | purchases to arrive at a price". That
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| selling.Your customer is not buying a
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| | means your gross profit margin is 33% but
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| drill. He is buying a hole! I do not know
| |
| | your financials show that you are only
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| who first said this and it has been
| |
| | achieving 29%. Let's do something about
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| around for at least 40 years. It sounds
| |
| | it.A compromise for the small business
|
| simplistic and hackneyed but it is really
| |
| | owner is to have a professional
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| a profound observation.I don't think that
| |
| | accountant design an easily kept system
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| girl is really buying a hole. She may be
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| | that will produce the information
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| buying independence; the ability to hang
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| | required. Then your 'girl' can be trained
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| pictures, put up curtain rods without
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| | how to operate the system.Most Businesses
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| having to rely on her male partner. The
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| | FailOnly about one in ten businesses do
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| features and benefits which appeal to her
| |
| | really well and makes some money for the
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| will be different to those which
| |
| | owner. Your's won't be one of them unless
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| influence a builder.So if you are hazy on
| |
| | you can get the four corner-posts
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| marketing you've got a lot of reading to
| |
| | right.Author, Kelvyn Peters is one of
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| do to get up to speed.SellingWe all know
| |
| | Australia's longest serving Tax Agents.
|
| what selling is...don't we? Well perhaps
| |
| | He was registered in 1962 and became a
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| not, because most small businesses do it
| |
| | CPA in 1964.Kelvyn served on many
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| badly...or the owner does it but the
| |
| | charitable boards including St Aubyns
|
| staff has not been trained to do it."Do
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| | Hospital, Alzheimer's Association and
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| you want fries with that?" has been made
| |
| | Older Peoples Advocacy Service.As a young
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| famous by a well known take-away. We call
| |
| | man he won the Outstanding Jaycee Award
|
| that up-selling .It was a very successful
| |
| | three times. He's a compassionate,
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| tactic which increased sales of fries
| |
| | generous man who loves people. That's why
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| etc. but it is starting to lose its
| |
| | he is so skilled at helping people in
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| edge.Several times on recent visits I
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| | trouble.Kelvyn Peters was Mayor of
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| have been asked whether I wanted fries
| |
| | Kingaroy Shire Council from 1982 to 1987
|
| when I already had fries, or did I want
| |
| | and campaigned as the 'Young Man of
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| desserts when I already had them. That
| |
| | Action'. Over 20 years later he still
|
| gives negative vibes. They are not really
| |
| | calls himself a 'Young Man of Action'.He
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| thinking of helping me. They are just
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| | is a director of Restaurant Catering Qld
|
| trying to increase sales.ProductionThis
| |
| | Inc the peak employer body in Queensland,
|
| applies to both manufacturing and retail
| |
| | and has advised the hospitality industry
|
| establishments. You have to 'produce'
| |
| | for many years. His specialty is moving
|
| your product but you must do more than
| |
| | in to rescue a sick business. Kelvyn has
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| that. It must be produced at the
| |
| | spent over 20 years experimenting and
|
| location, at the quality, at the time and
| |
| | researching methods to help small
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| at the price that your customer wants.A
| |
| | business.He has perfected it with local
|
| restaurant had their production down to a
| |
| | clients. Now he is going global and he is
|
| science but the waiting time between
| |
| | only an email away.
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| sitting and having the order taken was 45
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| |
|
