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Neil Steggall
Top 10% Business Planning

Partner at Wardour Capital Partners

Member Since July 2013

South Yarra, VIC, 3141

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4.95K FOLLOWERS

Neil is the CEO of Wardour Capital Partners, leading emerging growth & mid tier advisors. He is also a Non Executive Director of Family Planning Australia and The Australia Asia Business Alliance.

Neil is an experienced director & corporate mentor and has chaired or served on numerous board committees including finance & audit, governance, compliance, strategy, acquisition, remuneration & ethics.

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Top 10%
Business Planning
Top 10%
Business Consulting

Neil Steggall answered this question

Lisa Ormenyessy
Lisa Ormenyessy , Business Coach and Marketing Specialist at

Asked this question - Business Partnership

Melbourne business owners....Want to date?

Hi Lisa,

A great post and a great idea! I would enjoy catching up over a coffee and taking time to discuss possible synergies. Tuesday of next week would suit me and I am happy to meet wherever suits you.

In addition to my SSME profile you can find me on www.wardourcapital.com or LinkedIn.

Cheers,

Neil.

Neil Steggall answered this question

Derek Lotts

Asked this question - Human Resources

Which of these do you think is the most and which the least important when it comes to a healthy working environment?

Hi Derek,

For me recognition of employee effort would rank well ahead of the others. Recognition demonstrates not only your appreciation but importantly your respect for your employees and will always help develop a strong and winning team. Health insurance.........well its better than a pay cut but only just!

Cheers,

Neil.

Neil Steggall answered this question

Marty Dalton

Asked this question - Business Growth

Are you pricing your products and services correctly?

Hi Marty,

I agree with Jef''s comments but would add that a common error made in pricing products and services is a failure to understand your fixed cost structure (including your anticipated wages) and accounting for this when building you costing and quoting.

If when all costs are calculated you are above the market ask:

  1. Is your product or service better than your competitors and if so why/how
  2. Will your customers recognise this and pay the difference
  3. If the answer to either question is no, you need to review your structure, costings & business model.

We often find clients say "oh our customers just won't spend the money". Quite often the client is trying to sell what they perceive their customers "need" whereas long term research shows both B2B and consumers buy what they "want". It is often only a small, emotive change yet the difference in meeting wants is usually the difference between profit and loss.

To understand this better check out this youtube clip re Apple: http://www.ted.com/talks/lang/en/simon_sinek_how_g...

Another good source is Peter Drucker re satisfying customer wants.


Hope this helps,


Cheers,


Neil.

Neil Steggall answered this question

Mircea Stephen

Asked this question - Website

Does anyone know where to download free sample board resolutions for Australian companies?

Hi Mircea,

The ASIC site ( http://asic.gov.au/for-business/changes-to-your-co... ) is quite user friendly and answers many of the common questions SME's may have.

If you follow the link above you will find easy to understand guidelines for resolutions etc. Dont try to use overly complex language when framing resolutions, plain English is best. Think through what you are resolving and explain it as though speaking with a friend or family member.

I hope this helps, feel free to contact me directly if you need more help,

Cheers,

Neil.

Neil Steggall answered this question

Ava Lee
Ava Lee, at Swing

Asked this question - Investor Funding and Capital

How far ahead should we plan for funding to get the business started?

I would suggest that the issue of investor funding and your required levels of future equity should form a key part of your initial business thinking, planning and strategy and be detailed and factored into your plan and budgets.

Waiting until investor funds are needed is usually too late and the business risks stalling or failing.

Most investors are happy to be approached at an early stage of thinking, they have much to gain by investing in a winning idea and so they will most likely be prepared to offer help in developing your plans, speaking to banks and even bringing along other investors.

Early stage investors also make great business mentors or advisory board members often bringing on board many years of experience and knowledge.

Look at it this way....would you jump in your car and set off on a lengthy road trip without first checking you had the fuel and cash to complete the journey?

Good Luck

Cheers,

Neil.

Neil Steggall answered this question

Ling Lee
Ling Lee, at Digital Marketing and Personal Branding

Asked this question - Importing

What were your experiences with wholesale buying from India or China?

One of our long term clients buys from China on a frequent basis and in relatively small orders. They have built an excellent long term relationship with an independent local buying agent who places orders, supervises quality and shipping (usually by mail) and advises on new products emerging.

This is both cost effective and efficient

Neil Steggall answered this question

Ling Lee
Ling Lee, at Digital Marketing and Personal Branding

Asked this question - Importing

What were your experiences with wholesale buying from India or China?

One of our long term clients buys from China on a frequent basis and in relatively small orders. They have built an excellent long term relationship with an independent local buying agent who places orders, supervises quality and shipping (usually by mail) and advises on new products emerging.

This is both cost effective and efficient

Neil Steggall answered this question

Ling Lee
Ling Lee, at Digital Marketing and Personal Branding

Asked this question - Search Engine Optimisation (SEO)

Is SEO categorised as part of IT or Marketing?

SEO is a critical component of any marketing strategy yet I fear some organisations still look to their IT professionals for SEO development.

A great question Ling!

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Why do we Procrastinate? ......Well, I’ll tell you tomorrow!!

Procrastination is a problem for the sufferer, it’s a problem for business and it can ruin cohesive team work. It is a universal problem in businesses of all sizes and yet we rarely discuss it. "Procrastination is the bad habit of putting off until the day after tomorrow what should have been done the day before yesterday.” Napoleon Hill I was surprised when reading an article in Psycholog...

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Leadership is an extraordinary skill so much so that it is often difficult to define that certain something which differentiates the great from a good leader. When assessing investment opportunities we always look at the leadership first and foremost, particularly in start-ups. To guide us we have developed the 5 Key Trait test. It is rare to find all of the traits in one person but when we do ...

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Persistence and motivation are in many ways the rocket fuels of success. Immediately after waking each day I have started posting a motivational quote to test its effect on me and my friends. A positive start to the day is essential, so often the quote is leadership or persistence based and quite old fashioned by today’s standards. The leaders quoted include amongst many: Franklin D Roosevel...

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Leader or manager? – vive la différence!

The terms leadership and management are often used to describe the same person or even used as though the words are interchangeable. They are not. The differences between leadership and management are vast and varied and placing the wrong person in the wrong position could have dire consequences for your business. Leaders are rarely great managers and vice versa. Both are much needed and both h...

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Neil Steggall answered this question

Lisa Ormenyessy
Lisa Ormenyessy, Business Coach and Marketing Specialist at

Asked this question - Business Partnership

Melbourne business owners....Want to date?

Hi Lisa,

A great post and a great idea! I would enjoy catching up over a coffee and taking time to discuss possible synergies. Tuesday of next week would suit me and I am happy to meet wherever suits you.

In addition to my SSME profile you can find me on www.wardourcapital.com or LinkedIn.

Cheers,

Neil.

Neil Steggall answered this question

Derek Lotts

Asked this question - Human Resources

Which of these do you think is the most and which the least important when it comes to a healthy working environment?

Hi Derek,

For me recognition of employee effort would rank well ahead of the others. Recognition demonstrates not only your appreciation but importantly your respect for your employees and will always help develop a strong and winning team. Health insurance.........well its better than a pay cut but only just!

Cheers,

Neil.

Neil Steggall answered this question

Marty Dalton

Asked this question - Business Growth

Are you pricing your products and services correctly?

Hi Marty,

I agree with Jef''s comments but would add that a common error made in pricing products and services is a failure to understand your fixed cost structure (including your anticipated wages) and accounting for this when building you costing and quoting.

If when all costs are calculated you are above the market ask:

  1. Is your product or service better than your competitors and if so why/how
  2. Will your customers recognise this and pay the difference
  3. If the answer to either question is no, you need to review your structure, costings & business model.

We often find clients say "oh our customers just won't spend the money". Quite often the client is trying to sell what they perceive their customers "need" whereas long term research shows both B2B and consumers buy what they "want". It is often only a small, emotive change yet the difference in meeting wants is usually the difference between profit and loss.

To understand this better check out this youtube clip re Apple: http://www.ted.com/talks/lang/en/simon_sinek_how_g...

Another good source is Peter Drucker re satisfying customer wants.


Hope this helps,


Cheers,


Neil.

Neil Steggall answered this question

Mircea Stephen

Asked this question - Website

Does anyone know where to download free sample board resolutions for Australian companies?

Hi Mircea,

The ASIC site ( http://asic.gov.au/for-business/changes-to-your-co... ) is quite user friendly and answers many of the common questions SME's may have.

If you follow the link above you will find easy to understand guidelines for resolutions etc. Dont try to use overly complex language when framing resolutions, plain English is best. Think through what you are resolving and explain it as though speaking with a friend or family member.

I hope this helps, feel free to contact me directly if you need more help,

Cheers,

Neil.

Neil Steggall answered this question

Ava Lee
Ava Lee, at Swing

Asked this question - Investor Funding and Capital

How far ahead should we plan for funding to get the business started?

I would suggest that the issue of investor funding and your required levels of future equity should form a key part of your initial business thinking, planning and strategy and be detailed and factored into your plan and budgets.

Waiting until investor funds are needed is usually too late and the business risks stalling or failing.

Most investors are happy to be approached at an early stage of thinking, they have much to gain by investing in a winning idea and so they will most likely be prepared to offer help in developing your plans, speaking to banks and even bringing along other investors.

Early stage investors also make great business mentors or advisory board members often bringing on board many years of experience and knowledge.

Look at it this way....would you jump in your car and set off on a lengthy road trip without first checking you had the fuel and cash to complete the journey?

Good Luck

Cheers,

Neil.

Neil Steggall answered this question

Ling Lee
Ling Lee, at Digital Marketing and Personal Branding

Asked this question - Importing

What were your experiences with wholesale buying from India or China?

One of our long term clients buys from China on a frequent basis and in relatively small orders. They have built an excellent long term relationship with an independent local buying agent who places orders, supervises quality and shipping (usually by mail) and advises on new products emerging.

This is both cost effective and efficient

Neil Steggall answered this question

Ling Lee
Ling Lee, at Digital Marketing and Personal Branding

Asked this question - Importing

What were your experiences with wholesale buying from India or China?

One of our long term clients buys from China on a frequent basis and in relatively small orders. They have built an excellent long term relationship with an independent local buying agent who places orders, supervises quality and shipping (usually by mail) and advises on new products emerging.

This is both cost effective and efficient

Neil Steggall answered this question

Ling Lee
Ling Lee, at Digital Marketing and Personal Branding

Asked this question - Search Engine Optimisation (SEO)

Is SEO categorised as part of IT or Marketing?

SEO is a critical component of any marketing strategy yet I fear some organisations still look to their IT professionals for SEO development.

A great question Ling!

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