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10 things you need to know this morning in Australia

Good morning, Australia. Hope you slept well. With the rise of technologies, major changes in local...read more

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Wyatt Gavin
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Questions

January Discussion | What motivates YOU?

The beginning of a new year is a great time to reevaluate your priorities and to make plans.  How... read more

Asked by:
Sarah Irwin
Sarah Irwin SME Community Director at SavvySME
Jef Lippiatt
Jef LippiattOwner at Startup Chucktown
I'm motivated by the act of creating. I have a variety of ventures and hobbies that are all about making things for myself, friends and customers.I'm driven by my own internal passion. I've wanted to be a Renaissance man since I first heard about that period in time (I was roughly 12 or 13 years old). I have a constant need to learn things and once I've learned, I do my best to pass that knowledge on through conversations, business ventures and mentoring.A main goal of mine is to take others to success with me. I'm very motivated to help others succeed, because I don't want to be a lone survivor, but part of a great group of people regardless of if we all work together on a daily basis.
What motivates me is having a 'why' for what I am spending my time and energy on. Without this I lose track and get easily distracted. It can also impact my desire to be involved in a project,so it really is the core of everything I do.But I think that the topic of motivation is more complex than just a simple answer can provide. It's about understanding how to stay motivated as well because motivation is key to any project being completed and this includes even being in the roles that we have. Without it, I think it's vital to reflect and work out what's changed, if anything, and reassess what we are doing and why our motivation has lessened.Even though I know that my 'why' is the foundation for being motivated on something, there are a few core things that help to establish that motivation and even though they may not seem directly related to business, they are vital to keep the motivation flowing and consistent.Understand the 'why' behind what I am putting my time and energy into. Without a clear idea of why I am doing something I quickly lose interest and find myself frustrated and unproductive.Regularly assess the balance between my work and personal life. This is vital to maintain motivation. I tire easily and need to make sure that I am doing a little bit consistently rather than big blocks of work in quick succession. If my physical health is out of balance, I won't maintain the work load and the motivation will drop.'Check in with trusted advisors/ mentors on a regular basis. Being accountable to others who have more experience than me is crucial to helping me stay on track. Since motivation is the foundation of getting things done for me, this helps ensure that I am not wandering off to new ideas at a whim and actually finishing my work! It also ensures that if things are regularly going off track, there is someone else keeping an eye on it and they can help me assess if what I am doing is still relevant, needs to be redefined or has to change.Ultimately if you don't feel a sense of purpose in what you are investing in there's a good reason right there to stop and reflect.
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Questions

What industry has the greatest need for a redesign?

Asked by:
Jef Lippiatt
Jef LippiattOwner at Startup Chucktown
This is a great question but one that is hard to answer without context. For example, here in the United States, I believe one of the most important industries that needs flipped is healthcare, specifically the standardizing the cost of identical medical procedures from one city to the next and affordable medications.However, in underdeveloped countries, there needs to be a better answer for the largely unbanked masses. I'm not saying more banks are the answer, but a way for them to easy store and access said money, whether it is a digital coin, through SMS messaging or some yet undeveloped technology.
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Questions

What is the single most important thing you've learned about your business so far this year?

Asked by:
Jef Lippiatt
Jef Lippiatt Owner at Startup Chucktown
James Huy Vuong
Clarification on the type of clients we love to work with and what activities we really enjoyed. This was important to us because we wanted to build a business as they say in China that last 100 years..It's not just a job, its our way of life.
Daniel Brady
Daniel BradyOwner at Heavenly Hammocks
Ebay as an additional sales channel has both positives and negatives, but overall it's worth using: It adds incremental sales, allowing for lower cost imports. It works for some of our categories but not others. Eg. small items that China can ship directly to Australia - we can't even compete on Ebay for those. The fees are fixed at around $25 per month + 9% commission. We can run that year-round, unlike some other advertising that we have to pause in the low season. A second point: Focusing more on our hammock chairs improved our low season, since they are less seasonal than our regular hammocks. We improved our range and promotions, and it is proving successful.
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Questions

What meetup events do you all go to?

Would be great to know which groups you find worthwhile.. and would be great to meet some of you as... read more

Brad Lyons
Brad LyonsOwner at SMS Fusion
I have mentioned to SavvySME that they should host an annual conference for members. Fingers crossed they see value in it. I generally go to conferences related to my industry, I find them a great way to meet clients and see what the industry is up to.I have tried going to a couple of small local small business groups however found them to be a waste of time (just my personal opinion). Chamber of commerce is another great place to meeting other business owners. I would have a chat with your local Chamber of commerce and see when their next meeting is. You can normally attend the first one for free as a guest.
Megan Edwards
Megan EdwardsExpert Content Marketer + Copywriter at mWords Communications
Hi Maggie,In Australia, the BNI network is pretty good for professional meet ups. Many of the BNI groups, and other professional networks, have a presence on LinkedIn so you could start your search there. Good luck! Megan
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Miscellaneous

Victoria announces diverse Innovation Expert Panel to guide government on innovation and disruption

The Minister for Small Business, Innovation and Trade announces a panel will work to assist the...read more

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Miscellaneous

Australia Post partners with Pause Fest 2016 to promote innovation across the Australian landscape

Pause Fest and Australia Post will work together to promote innovation within the Australian...read more

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Miscellaneous

Foreign Minister Julie Bishop leads the charge on selling Australian innovation to the world

Bringing global attention to Australia and will be good for all businesses, SME as well as larger...read more

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Questions

Do you see the need for a writing coach?

I'm wondering if business professionals would be interested in getting coaching for writing a book.... read more

Asked by:
Jef Lippiatt
Jef LippiattOwner at Startup Chucktown
Jennifer,I think that is an interesting proposition. I know that having a writing coach is beneficial to a professional at any career level (but especially to higher level business executives). I'm less sure of how many professionals are interested in writing and selling a book. Is that a fairly big target market / demographic?I think the idea you have is sound. I'm not sure about the pricing because that may depend more on your target audience and location. It doesn't sound like a terribly high price, but I would test that with potential clients (to help ensure you finding the pricing sweet spot).I also believe that you may need to educate (via a website or video) the benefits that writing a book could have on their career. I think proper positioning of this will go a long way in growing the client base. There may be interested professionals that aren't really sure if their topic or approach would be embraced. Perhaps they don't know where to begin the process.I would do some research with your intended customer base to validate the pricing. The rest of the idea sounds solid to me.
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Questions

Do you take time off from your business to "sharpen the saw"?

In Stephen R Covey's book "7 habits of highly effective people", the final habit is  Habit 7:... read more

Asked by:
Selina Shapland
Selina ShaplandOwner at Selina Shapland
I take time out to do art and create jewellery which helps me build my creativity and problem solving skills.  I listen to a lot of audio training and philosophy when I am drawing to increase my personal and professional development.  And... I am getting back into regular exercise.  I guess that's the one area I need to sharpen the saw the most!  Thanks for the great question.  I think that this is an important aspect of creating success in all areas of our lives and we do need to take time out to recharge, learn and grow.  S
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Questions

How do you celebrate your wins?

One thing that I have always found a little depressing about being the boss man is that celebrating... read more

Wendy Huang
Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
I verbally celebrate it with the team :)!! In my old workplace we used to have a small and a big gong and we used to gong every little win! Also writing down the little milestones helps too :)!
John Belchamber
John BelchamberOwner & Senior Consultant at Invoke Results
As someone who works from home on his own, a good Daddy Dance in front of the mirror often does it for me ;)
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Miscellaneous

The Highest Paid TV Actresses Of 2013

The 20 top paid TV actresses and reality stars of 2013 earned a combined $183 million in the last...read more

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How many Brisbane based businesses are there on SavvySME?

How many Brisbane based businesses there are on Savvy SME? Please say hello if you're... read more

Asked by:
John Belchamber
John Belchamber Owner & Senior Consultant at Invoke Results
Neil StoreyOwner at Books Are Gone
New member to SavvySme here, and based in Brisbane North. Books are Gone is a faith based business that provides a professional  bookkeeping service to small business in the Pine Rivers district and beyond.  As a professional bookkeeping practice our goal is to enable you to spend more time growing your business and cash flow by removing the burdens associated with bookkeeping. I would always take figures produced by the ABS as a starting point and then do your own research.  I know from previous experience that the figures given to the ABS are not reliable, making their summary of them also unreliable.  But as John has indicated it is a good resource if you use it appropraitely. Love to gettogether with other SAVVYsme's in Brisbane  
This may be a bit off topic but The Australian Bureau of Statistics used to publish (in 2006) a breakdown of SME's by postcode. In my line of business as a Jim's Bookkeeping Franchisor it is important to be able to provide as accurate a picture of business concentrations by location as possible and the following is the most current information I could get. You may have to copy into an Excel worksheet and do a Filter on location but having access to this sort of data is very handy. http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/8165.0Jun%202008%20to%20Jun%202012?OpenDocument
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Questions

Do you know an Australian business that buys second hand jewellery and valuables?

I'm wondering if anyone here knows of someone that buys 2nd hand designer jewellery and then... read more

Asked by:
Wendy Huang
Wendy Huang Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Rebecca Carroll-Bell
Google consignment stores. They will offer your piece for sale then keep a cut of the sale price. 
Jeffrey Joel
Jeffrey JoelMD at Auspac Trading NSW PL
Cash converters, pawn shops? I can't imagine you would get much from them though.
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Questions

Will this business attract more scrutiny or tax audits from the ATO in future?

A friend has placed a deposit on a hairdressing salon at Hornsby.  She has since found out that the... read more

Todd Dewey
Todd DeweyConsultant at Oakton
I am not an tax expert however I don't believe that the history of the previous owner would have any impact on your friend. Your friend will be lodging returns under her company / sole trader ACN or ABN. My wife has a hairdressing salon and she was audited by the ATO last year. My understanding is that they target specific industries on a cyclical basis, which may mean you will not be targeted for a while. The ATO run a range of fairly sophisticated tools to assess cash v credit sales, wages per employee, wages per sales volume etc...., however every salon is unique so it is difficult to generalise. In the end if you are upfront with what you declare, then as we were, you don't have an issue - my tip is to ensure your friend retains adequate comprehensive records in addition to bank statements, till receipts or appointment books were helpful for us.
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What does being an entrepreneur mean to you?

Back in 1983, entrepreneurship was associated with a personality disorder, and although there are a... read more

Asked by:
Wendy Huang
Wendy Huang Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes
David Solomon
David SolomonOwner at Quiddity
There is so much misunderstanding about the term entrepreneur. After all, depending on where you were born or how long you have lived, being an entrepreneur may be either a good thing or have negative connotations. Here are the top 6 characteristics in my definition of an entrepreneur: Passion - Every entrepreneurial individual starts with a passion for what they are doing. For them money is a motivator, but not the prime motivation. Problem orientation - Most entrepreneurs set out to solve a problem. For many it is about doing something for customers that would enhance their lives. They are passionate about providing value and quality to customers. Perseverance - Success has been a long time coming for many entrepreneurs, and most have to work long and hard at getting it “right”. It doesn’t happen overnight, but these individuals have the determination and belief to keep going when many would give up and get a job. Lack of orthodoxy - Entrepreneurs think of doing things differently: a pocket sock, a flat chicken, a new way of looking at financial planning. They put ends and means together in different permutations. Vision - All have a vision of a business that helps lots of people – a big dream. Fearlessness about changing direction - If top entrepreneurs hit a roadblock, they will find a new way to do things rather than give up. They make things happen. Some entrepreneurs end up being very wealthy as a result of their endeavours, but this is only a small percentage. Many will have business failures and many will simply make a living. But the rationale for the entrepreneur is “At least I am doing it on my terms”. 
Edwina Gleeson
Edwina GleesonFounder at Max Gabriel
Hi Wendy I never saw myself as one until someone pointed it out to me!  I always thought they were people like Richard Branson or Bill Gates, successful and genius.  But an entrepreneur is someone that go out into the world and creates their vision.  Sometimes successfully and sometimes not.  Doesn't matter, the fact is they grabbed the bull by the horns to see what would happen. The other reason I never saw myself as one is quite simply because entrepreneur is a word I have a real problem pronouncing, I can entertain my husband for hours trying to say it correctly, sad but true. 
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