The 5 Keys That Make Your Competition Irrelevant

All happy companies are different and rarely need to compete on price. All struggling companies are the same and are forced to compete on price. 

Creating incremental improvements to your product or service will do nothing to differentiate you in the market because everyone else is making the same incremental changes. You can't just be different, you need to be meaningfully different. 

Here's how... 

Having worked with thousands of entrepreneurs from around the world and interviewed men and women who have built multi million dollar businesses and hugely successful personal brands all agree that at a strategic level, the 5P's (Pitch, Publish, Product, Profile & Partnership) are the primary drivers of influence. Watch a video on the 5P's by clicking here. 

Buried beneath those 5P's however are five hidden differentiators that comprise the raw materials that give the 5P's their impact. 

If you're unclear about any of the following five principles, you will experience inefficiencies at all scales; the most obvious being a lack of available time and cash. 

Refining the following as isolated components will yield little measurable effect. It is only when animated by the 5P's that the product of the whole becomes far greater than the sum of the parts.    Continue reading

What Strategic Planning Can Do For You | Free Book

The Australian Securities and Investments Commission released a report into corporate insolvencies that found 44 percent of businesses suffered poor strategic management, 40 percent had inadequate cash flow or high cash use and 33 percent suffered from trading losses.

Strategic planning allows you to:  

  • Monitor the direction of your business and steer it onto the best path for future growth and success.
  • Optimise performance, adapt to changing circumstances such as changes in technology, market expectations or the competitive environment, and plan for major events, both internal and external.
  • Regularly and consistently assess whether your business decisions are correct and optimised to meet your goals. 

 The benefits include: 

  • Clarity about the business direction
  • Better customer satisfaction and engagement, leading to sales growth
  • Optimised business value• Sustainability: improved work / lifestyle balance for owners or managers
  • Identification of new opportunities • Increased profits
  • Smooth exit and succession
Read more in your FREE hardcopy. Click to order.  Continue reading

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Strategic Insights Matter

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Govt. Grant Fact Sheet | Entrepreneurs' Programme Overview

Last updated: 25/08/2016

Programme status: Open for applications

The programme gives Australian business quality advice and support to innovate and grow. It gives you the best advice and networks to help you solve problems, grow and succeed.

What does it offer?

Practical support for businesses, including:

• Advice from people with relevant private sector experience.
• Support to bring research and innovation into your business.
• Connection and collaboration opportunities with other businesses.
• Assistance and co-funded grants to commercialise novel products, processes and services.
The Programme offers flexible and tailored support through three elements:

Accelerating Commercialisation

Provides advice to help entrepreneurs, researchers and businesses to overcome the challenges of commercialising new products, processes and services.

There are also co-funded grants to support commercialisation activities.

Business Management

Provides help to improve your business management, capabilities and networks.

Services and grants include:

• A Business Evaluation from an experienced Adviser. The service provides you with expert help to create a plan of action to improve and grow.
• Growth Services provides you with intensive specialist support, advice and connections to help overcome barriers to growth.
• Supply Chain Facilitation can help your business to participate in domestic and global supply chains. The service also helps you to better connect with your customers.
• Tourism Partnerships brings together eligible tourism businesses that offer complementary products or services. The service will help businesses to reach their potential and realise benefits that they might not have access to as an individual entity.
• There are also co-funded Business Growth Grants for up to $20,000. These grants help you get external expertise to implement the improvements recommended in your Business Evaluation, Supply Chain Facilitation or Growth Services report.

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4 Keys To Skyrocket Your Business Valuation

As a business owner you are probably aware that there are many different factors that “drive” or impact the value of your business. There are so many in fact that if you were to make an exhaustive list it would likely fill several pages. If you had such a list where would you start?

If I were in your shoes I would want to start on the ones that have the “biggest bang for the buck.”

But how do you know which ones those are? I would like to give you a couple of clues that will start you down the right track. Before we get to that however, we need to talk about some of the motivations that buyers have when considering the purchase of a business.

Buyer Motivations

The following are some of the more common motivators for purchasers of businesses:

1. Many (more than you might think) are looking to “buy a job”;
2. To take control of their own destiny. The desire to be their own boss is a very real and very strong motivator for a considerable number of purchasers;
3. To realize an acceptable rate of return;
4. To achieve a market position or presence that they didn’t previously possess;
5. To eliminate competition;
6. To achieve “economies of scale” by way of cost savings, access to capital, vertical or horizontal integration, etc.;
7. To gain access to patented technology or processes;

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