Episode 3 - 4 Views
Business has been growing for Michael and Vikki at
4 Views, a business that offers set-out services and specialist software for the shop-fitting and wood-working industry. There's demand for the service but profitability is proving difficult to come by.
Our cash flow expert,
Matthew Nolan from
Provident Cash Flow, gives Michael and Vikki some tips on prioritising their
bill payments and negotiating better terms of payment with their customers bills. Matthew also suggests the type of bank accounts 4 Views should have to reduce debt in their business and improve
cash flow. Michael and Vikki discuss all the cash flow challenges they are facing with Matthew, who offers some great advice on how they can
release cash back into the business.
Matthew also discusses with Michael and Vikki: what business planning they have undertaken to ensure they have enough cash in the business for the immediate
future, a financial
exit strategy should they need to cut their losses and leave the business, how they are providing their customers with
payment penalities and also how
leasing equipment can help to keep as much working capital as possible in the business.
We also send in our marketing expert,
Sharon Williams, from
Taurus Marketing to discuss with Vikki the success rate on the sale of their software. Sharon suggests a 3 pronged approach to
qualifying prospects. Vikki and Sharon also discuss the use of headsets as a
marketing give-away for customers at their trade-shows, how 4 Views should go about marketing
on-line to their prospective customers and what
market research 4 Views should be doing at the moment to better understand why their customers buy their software.
Episode 4 - Kids First Aid
In this episode we meet sisters Katie Fisher and Jenny Douneen from
Kids First Aid, a business they set up to provide condensed first aid training courses for time poor parents and carers.The business is doing well, but the girls have a few legal issues that need addressing and their database marketing needs looking at.
David Bradbury is an online marketing expert with
XYZ Direct. We've asked him to come and give some advice to Katie and Jenny about administering bookings for their first aid courses. David suggests that they dispense with the 1300 number and 365 page diary they currently use, and replace it with a
centralised calendar that they can both access at any time. It's also something the session coordinators can access to help make their booking process more efficient.
David also discusses the method Katie and Jenny use to
collect data from their course attendees when they register. David says a paper based method is okay, as they need to provide a signature, but they should then create a digital format of the hand written information to use for marketing purposes. David says the
email system they have is good value, at two cents an email, and allows them to measure how many people receive it, open it, and click on it. It also provides an insight into how responsive their database is.
Katie and Jenny also talk to David about the benefits of sending a Kids First Aid
newsletter. David says content is key, and they should focus on quality over quantity, send a newsletter only when they have something to say. David says self serve email is the best option for them to send to their database.
We've also sent in our legal expert, Tal Williams from
Australian Business Lawyers, to make sure the business's intellectual property is protected. Tal discusses with Jenny and Katie how they can protect their
business idea.
Tal discusses the First Aid Kids
disclaimer on the bottom of their registration form. As their course is not an accredited first aid course but rather an "Information session" they need to have one. Tal says a disclaimer needs to be brought to the attention of their attendees and can't be too small or hidden.
Tal also discusses with Jenny and Katy the differences, from a legal perspective, between having
contractors and employees working as course instructors for their first aid business.
Episode 5 - GD Rentals/Galleries Direct
Business is going well for Cameron Hall from
GD Rentals- Galleries Direct, a niche art agency that has two sides to the business.GD Rentals is concerned with renting premium artwork to corporate clients, and Galleries Direct provides clients with advice regarding the purchase of art.
Our branding expert Richard Sauerman from
Wake up Tiger gives Cameron some tips on communicating and promoting the GD Rentals and Galleries Direct
brand values both to an internal and external audience. Richard also tells Cameron that it's important to be consistent and true to the
brand essence in everything that he does in the business .Richard then suggests adopting a 'brand blueprint' so Cameron can consolidate his
two business brands into a single entity.
We also asked
Nudie Juices founder and entrepreneur, Tim Pethick, if he could help Cameron out with some of his business issues. Tim advises Cameron about the benefits of being involved with a
mentoring program or networking associations to help him generate some ideas. Tim also offers some suggestions to Cameron about how to manage his business's
growth and gives his views on the benefits and problems of
blending the two 'value propositions' of GD Rentals and Galleries Direct.
Note: The information
contained within the Kochie's Business Builders television program and
website is general in nature and is not intended to be a
recommendation, offer or invitation to take up the investments,
services or products of any of the companies featured. If you are
considering doing so, you should seek independent business and
financial advice from an
appropriately qualified professional on whether the information is
appropriate for your particular needs, financial situation and
investment objectives. The producers have no commercial arrangements with the case studies featured on the television program or website.
Episode 6 - Little Flamingo
Business is still in the start-up phase for Shannon Harcourt from
Little Flamingo, a business that specialises in the creation of invitations and stationery, as well as organising events. Shannon needs some help with her sales and marketing.
We've asked our small business expert
Linda Hailey to come and talk to Shannon about setting goals and knowing how to recognise, measure and reward every
success that Little Flamingo enjoys. Linda also discusses Shannon's
budget, cashflow and how much she needs to earn in order to make her business viable. Linda critiques Shannon's
website as well. Linda thinks it's good but needs to give some indication of pricing and have more information about Shannon.Linda thinks it's difficult in a start-up business but still very important to set long, medium and short term
goals. She also suggests Shannon spends part of her marketing budget on a
function in her showroom as part of her networking plan.
We also asked small business sales expert Rob Hartnett, from
Business Performance International, to come along and give Shannon some advice. Rob says that in order to grow her business Shannon needs to become more confident and overcome her shyness. She needs to meet
key business partners that she can engage with in joint marketing. Rob also talks to Shannon about how she can break into the
corporate invitation market and discusses payment options with Shannon, advising her to remove any obstacle to a
potential sale from taking place. Rob also discusses Shannon’s
appointment process and believes more can be done prior to an actual face-to-face meeting. Rob also discusses the reasons Shannon hasn't made
sales up to now and says she needs to be selective about the clients she wants.
Episode 7 - Babybuds
Business is going well for Charmaine Papallo from
babybuds, a business that sells innovative gifts for babies and new mums. Babybuds is about to enter the business 'take off' phase and Charmaine would like some help with her leadership approach. Charmaine also wants to make sure she's on track with her sales plan for next year.
We've asked our leadership expert Michael Duff to come along and offer some advice to Charmaine. Michael discusses how Charmaine can reinforce the business vision she has with her employees. Michael says babybuds needs a structured approach in order to achieve their
goals. Michael also suggests that in order to achieve the business results that Charmaine wants for babybuds, she'll need to start with those results in mind, and then work out what she needs to do and
believe in order to achieve those results.
We also asked our small business sales expert
Tim Shaw to come along and give Charmaine some suggestions on how to grow babybuds sales channels. Tim says that in order to increase
corporate sales in the business Charmaine should try and tap into the executive and personal assistants networks. Tim also suggests that Charmaine does some public speaking about babybuds in an attempt generate publicity about the business. Tim also suggests that Charmaine conducts an online
marketing campaign to promote the fact that they have done business with Australia's top 250 companies.
Episode 8 - Preparing for 2009
In the episode this week we have a departure from our usual format and present a special report on how to prepare your business for 2009.
Kochie and our finance expert, Julia Bickerstaff talk with Pino and Nick Salerno from a restaurant called
Stella Blu about how their business is performing at the moment. Julia says it's important to chase debtors relentlessly at the moment to make sure they
pay on time. Julia suggests that Pino and Nick come up with something that's simple yet enticing for their
customers in these difficult times. Julia also says there are opportunities out there for businesses to
acquire competitors if they have some cash at their disposal. She also gives some tips on how some businesses can cut costs by looking at different work
practices. Kochie also talks to Pino about how he keeps getting his
clients to keep coming back to his restaurant.
Kochie also talks with Dr Shane Oliver, Chief Economist with
AMP Capital Investors, about how he sees the economy in 2009. Shane discusses
government spending and how this stimulus will affect the economy. Shane also discusses how big business is in a better position to survive an economic downturn than a small business. Shane also gives his views on the Australian
property market and
wealth levels in 2009.
Kochie and our small business expert Linda Hailey also talk to Bruce Turner from
Wynston Blinds and Doors about how he takes
advantage of his brand and market leadership in tough times. Bruce also discusses how he's managing his
sales staff at the moment.