Bad news can affect how we see the world, our life and our business. We become fearful of the future and decide NOT to do anything "new", "risky", or even "necessary" to further our personal and business dreams.  The irony is that if everyone on the planet thinks this way, nothing would happen and economies (most of them driven by sentiment and confidence about the future) across the globe would collapse. What we don't realise is that we are all relying on each other to further our dreams and build our businesses.

I love how John McGrath puts it : "Stop blaming Julia, the GFC, the floods on what happens to your business".

I have been in business for over 16 years now, during which I have seen how some businesses flourished and some failed during the mid 90's recession, 2000 tech crash, GST year, September 11 and the 2008-2010 GFC crisis. When I look back at those clients who flourished, I can see a trend/pattern of behaviour distinct from those who didn't flourish/failed:

1. Leadership: the Entrepreneur showed distinctive signs of strong and courageous leadership coupled with a BIG vision of what their business would look like in the future

2. Value: the Business product/service added perceived and REAL value to its customers that they were at the forefront of their customers mind as opposed to their competitors

3. Upskilling: the Entrepreneur continuously learnt new management, sales, finance and marketing skills to improve their business

4. Financial MGT: the Business owner was a PRUDENT financial manager and ensured ZERO wastage of financial resources

5. Productivity: the Entrepreneur demanded the most out of his/her people and ensured they performed to their KPI's and gave 100% of their abilities (if not they were let go quickly!).

6. Adapt: The Business was agile and fast enough to adapt to the new challenges/uncertainties facing it with a strong team culture and open communication

7. Mindset: these entrepreneurs know instinctively one encompassing truth about business (and life for that matter) which is: "if you are not growing, you are dying slowly".

Hence imagining the future should be at the forefront of your mind and in everything that you do.

Carbon tax 101:

WHAT IS IT?

A flat charge of $23 per tonne of emissions will be levied on the top polluters. It is designed to change energy use and encourage investment in clean energy sources such as solar, gas and wind. In 2015, the tax will be replaced with a market-driven system, referred to as an Emissions Trading Scheme.

Is the CO₂ we are pumping into the atmosphere through burning fossil fuels causing global warming?or Do you believe this warming is a natural phenomenon?  Make a comment. 

What is the probability of a negative impact on our economy and livelihood if we do nothing?  Is it a prudent practice to try to eliminate or mitigate (reduce) the negative risks?  What do you think we should do?  Make a comment.

Opinion is divided on whether Planning or Fate is more instrumental in the future we create.  I had a very intuitive business person tell me that planning is something that people do when they want to create the illusion of control.  You can't plan for every contingency.  In your view is it worth planning or should you leave it all up to fate?

While most people don't "formally" plan their lives they generally tend to have some idea about what they want.  Some people don't really know what they want and feel like they are drifting a bit.  Do you think you really need a "formal" goal setting and planning process to give your life direction?

What about in business?  A well know business saying is "Business don't plan to fail they fail to plan".  However, the steps and the pathway(s) are not often clear prior to embarking on the journey.  I certainly couldn't have predicted the pathway I have taken in business but I did have it as a goal.  How important is it to know the route before starting your journey?

Goals create Success.  Dr. Maxwel Malz in his famous 1960 book Psycho Cybernetics described how humans have an automatic goal achieving mechanism.  Psychologists call this the Reticular Activating System (RAS).  What we need to do is use our imagination to set the goal/ vision/ objectives/ intentions and then let our RAS come up with the steps/ pathway to achieve our goal.  If you feel that setting some inspiring goals will Kick Start 2010register for our program.  

 While we know physical characteristics are genetically inherited via our DNA.  The argument heats up when we start looking at characteristics like behaviour, intelligence and personality.  Our behaviours determine our results and possibly our success or failure.  Could we be genetically predisposed to winning or is this learnt through life experiences?      

What about in business?  Marketers have been had an equally heated battle over whether the Product or Promotion is key to a successful business.  Some believe a good product will sell itself.  Is the promotion more important than the product?     

Many agree that Nurture (environment/ context) is Decisive.  A thoroughbred horse left to graze in the desert will certainly perish.  Is your business getting the right advice and nurturing?  If you believe you have a really good product or would like to fine tune your product offering and promote it to your target market contact us for assistance. 

Cost Price = $500
30% Margin vs. 30% Markup

30% Margin

$500 / (100% - 30%/ 100)
$500/ 0.70 = $714.29

30% Markup

$500 x 30% = $150
$500 x (100%+30%/100) = $650 (1.3 or 130%)
$500 + $150 = $650

Difference between 30% Margin and 30% Markup at a cost price of $500 is$64.29($714.29 - $650)

The 30% Markup is actually a 23.08% Margin.

If you are not sure if you are working out your prices correctly contact usand we can go through it with you.  The profitability of your business is VERY SENSITIVE TO PRICING.  You could be working very hard but not reaping your full potential.