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Phil Khor
Top 10% Leadership

Founder at

Member Since November 2012

Chatswood, NSW, 2067

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3.46K FOLLOWERS

G’day, I am the founder of SavvySME.

Running a business alone is hard, which is why my team and I are keen to do our part to help.

We are proud to create this platform for you to connect, share and engage with service providers who can help grow your business.

Our goal is to become a trusted destination for you to find experts and resources for your business easily.

We invite you to share our vision for a vibrant community of folks looking out for each other :)

Qualified skills

Online Business
Sales and Marketing
Information Technology
Startup
Business Management
Ecommerce
Selling Online
Search Engine Optimisation (SEO)
Social Media
Customer Acquisition
Integrating Online and Offline
Digital Marketing
Leadership
Outsourcing
Business Growth

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Phil Khor answered this question

Official FAQ
Official FAQ, Inquisitor at SavvySME

App Development

How to tell if an app developer is good when outsourcing your app?

There are several things you should organise before you even approach, talk to and hire app developers. These are your requirements, a budget and pricing model you are comfortable with, and get a person who is experienced or knows app development on your side. This is crucial as many people with app ideas but without technical knowledge ends up paying a hefty sum, wasting time or ending up with a subpar app riddled with bugs.   Apart from testing out previous apps they have done, look at how responsive, attentive and invested they are in learning about your idea and business. They should be transparent about their processes and work and can meet realistic milestones. And never ignore the importance of support services because there are no apps created without bugs; good app developers just create fewer bugs or issues than mediocre ones.

Phil Khor answered this question

Who knows how much do copywriters charge to write a web page?

There are a lot of good points made so far. I might add that there's a HUGE difference between web content copywriting and copywriting that is SEO-friendly. Good website copywriters must have a good grasp of SEO and how to write copies that improve your website’s ranking, rich snippets or at least utilise the keywords you want to target.When asking for a free quote, make sure you ask about their experience and skills in writing content that’s optimised for search engines. It makes a big difference to your website in the long run.

Phil Khor answered this question

Official FAQ
Official FAQ, Inquisitor at SavvySME

Advertising

How much does it cost to create a 30-second TV advertisement?

The cost to create a 30-second tv ad can be as low as a few thousand dollars or as high as in the millions.It depends on what you’re creating.A simple product shot with a voice over should be affordable for small businesses, provided you don’t use a superstar’s voice. But a TV ad with famous figures such as musicians and actors would obviously cost a hefty amount, not including paying for the shooting location, production crews, production sets, post-production, creatives, etc.If you don’t have the experience and creativity, you can outsource the TV ad to an advertising or marketing agency. This is not only for the creative aspect, but technical and legal aspect. Your ad must be compliant with regulations and standards governing TV advertising (hyperlink: https://www.acma.gov.au/theACMA/About/Corporate/Responsibilities/advertising-on-radio-and-tv).The TV ad should adhere to specific technical standards, which may differ across various TV channels. It shouldn’t mislead the viewers, which means you can get in trouble if people complain about it. You’ll also need to be aware of rules on sex, violence, health and advertising to children.Here’s a rough cost estimate of TV advertising (hyperlink: https://www.savvysme.com.au/question/9-how-much-does-tv-advertising-cost) slots for your reference too. 

Phil Khor answered this question

What word or phrase do you use when you search on Google a bookkeeper or accountant for Adelaide?

I don’t live in Adelaide but I usually use the service provider and location keyword, for example, “bookkeeper Adelaide” or “accountant Adelaide”. I may also use task or project specific keywords such as “tax return Adelaide” or “BAS preparation Adelaide”. You can do a keyword research, if you haven’t already. There are many SEO tools that can give you popular keywords people search for. It can also help you discover related keywords and questions people generally ask that you may not have thought of. These keywords are great not just for SEO but to use in your content and ads too. I find the best SEO tools are usually paid ones such as SEMRush, Moz and Ahrefs because they will give you rich and detailed data and other features if you are serious about improving your SEO. Otherwise, you can try free ones such as Google Keyword Planner, Google Trend and Keyword Tool for basic research. They should be good enough. All the best.Here are a few links you might find helpful.SEMRush: https://www.semrush.com/Moz: https://moz.com/Ahref: https://ahrefs.com/GKP: https://ads.google.com/intl/en_au/home/tools/keyword-planner/Google Trends: https://trends.google.com/trends/Keyword tools: https://keywordtool.io/

Phil Khor answered this question

Official FAQ
Official FAQ, Inquisitor at SavvySME

Social Media

How much does it cost to outsource your social media marketing?

I reckon there are at least 2 factors to consider here. The first is obvious - it depends on the level of social media marketing experience and skills you need, as well as your specific requirements. But that said, costs can vary a lot depending on the type and the location of business you are outsourcing to.For example, let’s say you’re looking at outsourcing social media account management for 1-2 channels covering tasks such as content creation, regular posting, replying messages, engaging with followers, housekeeping and may include the odd task of managing ads now and then.Freelance social media manager or expert might start from a few hundred dollars a month.Small businesses with a few employees may also start from $300 - $500 a month.Boutique agencies specialising in social media may start from $800 a month.Full-service marketing agencies that cover every type of marketing will start from $1000 a month up to tens of thousands.The more social media channels to manage, the higher the cost. While there is an option to outsource overseas, where it’s cheaper, personally I think hiring local based businesses are better in the long run, if your business is mostly local. Social media is a platform where content needs to be current, fresh and personal, for you to be relevant and interesting to follow. Your social media profiles should not only consider the type of fans, but their location. Hiring Australian social media experts mean you will get people who understand the local lingo, culture, traditions, holidays, current issues, economy and political landscape. It helps tremendously with creating interesting content, starting exciting discussions, piquing people’s interest and generating loyal fans. You just don’t get this from hiring overseas.Hope this helps.

Phil Khor answered this question

What do you look for in a lawyer?

Great question Deborah!I like lawyers whom I can trust and build a good rapport with. I hire lawyers who has my back, and who is able to attend to issues in my business, however complex those may be. He/she should be someone I wouldn't hesitate to pick up the phone and have a chat without worrying about how much is that call going to cost me!I stay away from lawyers who charge by the minute, because I don't think they understand the needs of their clients. I don't want to be unreasonable, and I believe professionals should be compensated for their time equitably but that said, when professionals puts too much focus on their billable hours and percentage of utilisation, they tend to lose sight of their clients' needs and the bigger picture of what's at stake.I need to be confident that they have the right experience, and whether they have the right expertise in my industry to take care of unforseen issues confidently. For example, our business is a unique marketplace that most lawyers would not have the depth of experience in. So I'd need to look at their portfolio of previous projects, the type of clients whom they work with the most, client references, and recommendations from people in my network. The problem is that it always take so long to gather all these data to make the right decision lol.I'm also big on transparency, not just about scope, fees structure and processes but how we should handle issues ethically and with the highest integrity at all times. I don't like surprises so open and honest communication is key, which in essence is a pre-requisitie to building great rapport. I don't believe in shopping for the lowest fee. I believe you get what you pay for, and I'm willing to invest in the right expertise and experience as long as they're competitive in their pricing. Again, I do look for some flexibility, and know that I won't incur extra charge each time I pick up the phone for a quick question. Last but not least, I look for lawyers who are good cultural fit - a lawyer who is results driven and willing to go the extra mile, someone who would think of alternatives, someone who thinks ahead, and raise potential risks I may not have thought before, and generally is always looking out for my business. These are the only lawyers I trust. Then, it doesn’t feel like just a service I’m hiring but more of an investment I’m making. Hope that helps.

Phil Khor answered this question

What's the best marketing campaign that you've seen?

Great question! I'm always fascinated by Unilever's series of 'Real Beauty' campaign for Dove. I think Dove’s campaign went viral because it resonated with people's general realisation that female beauty as depicted by media and peers are not always normal, and that the most beautiful person you can be is yourself. It became bigger than the brand itself and I believe that's what great marketing campaigns are about.That said, I think they have also cop a lot of flak on social media for more recent campaigns, including the one where they create different bottles to represent the various shapes and sizes women come in. It's a bit over the top in my book but hey, justified or not, I think it's still has to be one of the best running campaigns over the years. 

Phil Khor answered this question

SavvySME Official
SavvySME Official, Official Account at SavvySME

Entrepreneurship

What's one inspiring quote you live by as an entrepreneur?

It always seems impossible until it is done.I think it was by Nelson Mandela.

Phil Khor answered this question

What are the best kept secrets of successful business people?

I reckon it's grit, some people have it, others don't. Grit is a personality trait of passion and perseverance for very long-term goals. I wrote about it here https://www.savvysme.com.au/article/445-do-you-have-the-will-to-succeed-do-you-have-grit-to-grow-your-business

Phil Khor answered this question

Miriam Miles
Miriam Miles, Founder at Resonate - Online Presence Development

Business Management

What are your top 3 tips for managing unpredictable issues that affect your workflow?

Add in your daily to do list a time when you deal with certain things. E.g. A time for checking and responding to emailsSimilar to the first point, if people constantly come to you throughout the day to speak to you, make it a point and make it known that they will need to come back to you at a certain time which you have allocated to such issuesI'll have to steal Jef's response here. Don't deal with individual problems. There are patterns and trends. Find ways to systemise everything. The trick is in anticipating problems and planning how you will respond before the issues come up.

Phil Khor answered this question

How does promotional article work on the Savvy platform?

Hi John, thanks for the question. Thought I'll re-post the answer to your question via PM again here for the benefit of other members too.The number of views on promotional articles vary a lot depending on the article's title, content, relevance, etc so there is no guarantee. Most promotional articles get an average of 400-500 views but we have seen ones that received over 3000 views in a period of a month. Promotional articles are shared across our broader networks too, and if it has good content, members tend to share it in theirs too.Good content tend to be more educational with a few helpful links (not too many I might add) to where they can get more help from you. Promotional articles are also shared in email digests and alongside relevant content, so it's a great way to get attention from those who are already interested in the subject.The best way to get maximum value on this platform is to demonstrate thought leadership by being helpful i.e. by blogging and answering questions genuinely without being seen as "spammy" or desperate for new business. We find that self promotion is turns people off quickly, which doesn't help our experts at all. Our Q&A is designed for business owners to get good expert advice, and self-promotional questions, answers or comments are deleted immediately. In fact, good answers give you long tail exposure from organic search.Hope this helps.

Phil Khor answered this question

What is your favourite or preferred project management system?

We use Asana a lot here at Savvy because it's incredibly powerful in tracking multiple initiatives, but it's also a great team communication tool, even with satellite teams. It can get quite a bit overwhelming if you're not used to working in a project environment, but otherwise it ticks most of the boxes for me.

Phil Khor answered this question

Neil Steggall
Neil Steggall, Partner at Wardour Capital Partners

Leadership

What is the number one skill required to build a successful SME?

#1 trait will have to be grit i.e. passion and perseverance for long term goals. Anyone can learn and become an expert at anything but there are inevitably hurdles in business, many of which might even seem insurmountable at the time. And without the will of mind, we won't get far.

I wrote an article about this previously /article/445-do-you-have-the-will-to-succeed-do-you-have-grit-to-grow-your-business

Phil Khor answered this question

What is wrong with this sentence?

Great brain teaser on an Easter weekend! Thanks Steve. I'm by no means an expert but would love to have a go. 

How about this? "There are skills to help you handle stress, including dealing with those who are causing you stress."

Phil Khor answered this question

Wendy Huang
Wendy Huang, Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Business Management

Who would be the business mentor you would love to learn from?

I met with one of our top influencers, Neil Steggall and suffice to say, it was time well spent. Neil has a refreshing insight into the SME market, how business really works and a great ambassador for our community. Highly recommended.

In addition, I reckon most of our top influencers would be great mentors and willing to help. All you have to do is ask.

Business Management

Getting ahead in business with strategic partnerships

Why strategic partnerships   “If you do not seek out allies and helpers, then you will be isolated and weak.” Sun Tzu   One of our dilemma as business owners is trying to do everything ourselves. It is tempting to romanticise about going it alone. But as experience dictates, running a business is hard, and we need all the help we can get.  We believe that business owners should neve...

Copywriting and Content Marketing

Why thought leadership matters

We know that content marketing is critical to online marketing, I guess that’s why some of us blog so much - but have you ever wondered what would be the one thing that would take your content marketing to the next level, and outdo your competitors? What is the single most critical requirement that could make or break your content marketing efforts in terms of influencing and attracting potenti...

Advertising

Is This The New Secret Weapon for Promoting Your Business Online?

While business owners like us struggle to find the advice we need in a timely manner, service providers often struggle to find quality leads and customers. In fact, one of the top concerns for over 60% of service providers and their online marketers is generating quality leads and converting those leads into customers. If you have been running a business long enough, you would have experienced th...

Human Resources

Do you have the will to succeed? Do you have "Grit" to grow your business?

I love the story of Vince Lombardi. He is considered one of the greatest American football coaches. His leadership and motivational skills drove his team to win five National Football League (NFL) titles in 9 years - an unprecedented success. His strategies and techniques, in particular a set of 26 rules, known as “The Lombardi Rules”, remain an integral part of various leadership training cur...

Leadership

Improving decision-making for small business

The great Napoleon Bonaparte, who is often considered as one of the greatest military leaders in the history of the western civilisation once said, “Nothing is more difficult, and therefore more precious, than to be able to decide.”    It's true. Leadership and decision-making goes hand in hand. Decision-making can be one of hardest things to do in business, even in our personal lives,...

Copywriting and Content Marketing

What the blogging challenge taught me

Our January blogging challenge is finally over! It was hard work, even overwhelming at times, but when you look at what we have achieved together, it was well worth it. We now have a library of useful business articles as part of a knowledge base that everyone can freely access! So to all who have taken part in the challenge, either by posting articles or commenting, or simply encouraging the ...

Business Management

8 reasons why asking questions is just as important as answering them

  One of my favourite quotes of Lou Hotlz, a retired American football coach, goes a bit like this. “I never learn anything talking. I only learn things when I ask questions”. When was the last time you had a chance to bounce a few ideas around about challenges in your business? Or when did you last have an invigorating learning experience when others answer a series of burning questions y...

Social Media

12 tips to make Twitter work for your business

  Whilst the uptake of Twitter in Australia is low compared to the US and the UK, Twitter is about to open an office in Sydney this year to increase its presence here. Who knows, this could be the turning point for Twitter, as more small businesses jump on the social media bandwagon. It may be time to rethink you strategy for Twitter and assess if there's an opportunity for your business to capi...

Social Media

Are you all bitter and twittered? You're not alone.

Twitter is touted by many as a great business tool, but if you're still grappling with the concept, you're not alone. When I first started using Twitter in earnest over 18 months ago, I was led down an emotional tailspin that looked something like this.. Over 65% of the Fortune 500 companies have an active Twitter account, so there's certainly demand from customers who choose to engage w...

Leadership

An engineer and the balloonist

  A man is flying in a hot air balloon and realises he is lost. He reduces height and spots a man down below. He lowers the balloon further and shouts, “Excuse me. Can you help me? I promised my friend I would meet him half an hour ago, but I don’t know where I am.”  The man below says, “Yes, you are in a hot air balloon hovering approximately 40 meters above this field. You are betwee...

Leadership

Make every moment memorable

  Have you ever wondered why certain businesses or teams tend to be more dynamic than others? Surely they must go through some tough times too, how do they keep their team focused and motivated? I'll let you in on a secret; make every year, every milestone, every moment in your business – memorable. Celebrate every win; it’s all the little wins that count at the end of the day. As business ...

Research and Innovation

What did you learn about your business in 2012?

  Learning is an integral part of business growth. Yet as business owners, we’re often so wrapped up with day-to-day running of the business that we miss opportunities to learn from prior years. 2012 was a difficult year for SMBs, so it’s hard to be excited about looking back at all for some, let alone reflecting on lessons learnt. I get it. Then again, I’m also a firm believer that the b...

Startup

Life as corporate refugees

Tell us a bit about your business SavvySME is a brand new social platform for Australian small and medium businesses. It’s an online community setting packed with social features, business knowledge base and soon a B2B marketplace.  So think about SavvySME as a one-stop shop to help you find everything you need to run your business - from latest news and expert advice, to useful business ...

Copywriting and Content Marketing

Challenge yourself to blog

Our January Blogging Challenge is well and truly here, so if you're up for it, let's get cracking! If you are new to the idea of blogging, this post is written for you. I’m hoping that you might challenge yourself to start blogging too after reading this post. After all, if I can do it, anyone can. I'm a novice at blogging too but I love the idea. I always enjoy reading articles posted on o...

Phil Khor answered this question

Official FAQ
Official FAQ, Inquisitor at SavvySME

App Development

How to tell if an app developer is good when outsourcing your app?

There are several things you should organise before you even approach, talk to and hire app developers. These are your requirements, a budget and pricing model you are comfortable with, and get a person who is experienced or knows app development on your side. This is crucial as many people with app ideas but without technical knowledge ends up paying a hefty sum, wasting time or ending up with a subpar app riddled with bugs.   Apart from testing out previous apps they have done, look at how responsive, attentive and invested they are in learning about your idea and business. They should be transparent about their processes and work and can meet realistic milestones. And never ignore the importance of support services because there are no apps created without bugs; good app developers just create fewer bugs or issues than mediocre ones.

Phil Khor answered this question

Who knows how much do copywriters charge to write a web page?

There are a lot of good points made so far. I might add that there's a HUGE difference between web content copywriting and copywriting that is SEO-friendly. Good website copywriters must have a good grasp of SEO and how to write copies that improve your website’s ranking, rich snippets or at least utilise the keywords you want to target.When asking for a free quote, make sure you ask about their experience and skills in writing content that’s optimised for search engines. It makes a big difference to your website in the long run.

Phil Khor answered this question

Official FAQ
Official FAQ, Inquisitor at SavvySME

Advertising

How much does it cost to create a 30-second TV advertisement?

The cost to create a 30-second tv ad can be as low as a few thousand dollars or as high as in the millions.It depends on what you’re creating.A simple product shot with a voice over should be affordable for small businesses, provided you don’t use a superstar’s voice. But a TV ad with famous figures such as musicians and actors would obviously cost a hefty amount, not including paying for the shooting location, production crews, production sets, post-production, creatives, etc.If you don’t have the experience and creativity, you can outsource the TV ad to an advertising or marketing agency. This is not only for the creative aspect, but technical and legal aspect. Your ad must be compliant with regulations and standards governing TV advertising (hyperlink: https://www.acma.gov.au/theACMA/About/Corporate/Responsibilities/advertising-on-radio-and-tv).The TV ad should adhere to specific technical standards, which may differ across various TV channels. It shouldn’t mislead the viewers, which means you can get in trouble if people complain about it. You’ll also need to be aware of rules on sex, violence, health and advertising to children.Here’s a rough cost estimate of TV advertising (hyperlink: https://www.savvysme.com.au/question/9-how-much-does-tv-advertising-cost) slots for your reference too. 

Phil Khor answered this question

What word or phrase do you use when you search on Google a bookkeeper or accountant for Adelaide?

I don’t live in Adelaide but I usually use the service provider and location keyword, for example, “bookkeeper Adelaide” or “accountant Adelaide”. I may also use task or project specific keywords such as “tax return Adelaide” or “BAS preparation Adelaide”. You can do a keyword research, if you haven’t already. There are many SEO tools that can give you popular keywords people search for. It can also help you discover related keywords and questions people generally ask that you may not have thought of. These keywords are great not just for SEO but to use in your content and ads too. I find the best SEO tools are usually paid ones such as SEMRush, Moz and Ahrefs because they will give you rich and detailed data and other features if you are serious about improving your SEO. Otherwise, you can try free ones such as Google Keyword Planner, Google Trend and Keyword Tool for basic research. They should be good enough. All the best.Here are a few links you might find helpful.SEMRush: https://www.semrush.com/Moz: https://moz.com/Ahref: https://ahrefs.com/GKP: https://ads.google.com/intl/en_au/home/tools/keyword-planner/Google Trends: https://trends.google.com/trends/Keyword tools: https://keywordtool.io/

Phil Khor answered this question

Official FAQ
Official FAQ, Inquisitor at SavvySME

Social Media

How much does it cost to outsource your social media marketing?

I reckon there are at least 2 factors to consider here. The first is obvious - it depends on the level of social media marketing experience and skills you need, as well as your specific requirements. But that said, costs can vary a lot depending on the type and the location of business you are outsourcing to.For example, let’s say you’re looking at outsourcing social media account management for 1-2 channels covering tasks such as content creation, regular posting, replying messages, engaging with followers, housekeeping and may include the odd task of managing ads now and then.Freelance social media manager or expert might start from a few hundred dollars a month.Small businesses with a few employees may also start from $300 - $500 a month.Boutique agencies specialising in social media may start from $800 a month.Full-service marketing agencies that cover every type of marketing will start from $1000 a month up to tens of thousands.The more social media channels to manage, the higher the cost. While there is an option to outsource overseas, where it’s cheaper, personally I think hiring local based businesses are better in the long run, if your business is mostly local. Social media is a platform where content needs to be current, fresh and personal, for you to be relevant and interesting to follow. Your social media profiles should not only consider the type of fans, but their location. Hiring Australian social media experts mean you will get people who understand the local lingo, culture, traditions, holidays, current issues, economy and political landscape. It helps tremendously with creating interesting content, starting exciting discussions, piquing people’s interest and generating loyal fans. You just don’t get this from hiring overseas.Hope this helps.

Phil Khor answered this question

What do you look for in a lawyer?

Great question Deborah!I like lawyers whom I can trust and build a good rapport with. I hire lawyers who has my back, and who is able to attend to issues in my business, however complex those may be. He/she should be someone I wouldn't hesitate to pick up the phone and have a chat without worrying about how much is that call going to cost me!I stay away from lawyers who charge by the minute, because I don't think they understand the needs of their clients. I don't want to be unreasonable, and I believe professionals should be compensated for their time equitably but that said, when professionals puts too much focus on their billable hours and percentage of utilisation, they tend to lose sight of their clients' needs and the bigger picture of what's at stake.I need to be confident that they have the right experience, and whether they have the right expertise in my industry to take care of unforseen issues confidently. For example, our business is a unique marketplace that most lawyers would not have the depth of experience in. So I'd need to look at their portfolio of previous projects, the type of clients whom they work with the most, client references, and recommendations from people in my network. The problem is that it always take so long to gather all these data to make the right decision lol.I'm also big on transparency, not just about scope, fees structure and processes but how we should handle issues ethically and with the highest integrity at all times. I don't like surprises so open and honest communication is key, which in essence is a pre-requisitie to building great rapport. I don't believe in shopping for the lowest fee. I believe you get what you pay for, and I'm willing to invest in the right expertise and experience as long as they're competitive in their pricing. Again, I do look for some flexibility, and know that I won't incur extra charge each time I pick up the phone for a quick question. Last but not least, I look for lawyers who are good cultural fit - a lawyer who is results driven and willing to go the extra mile, someone who would think of alternatives, someone who thinks ahead, and raise potential risks I may not have thought before, and generally is always looking out for my business. These are the only lawyers I trust. Then, it doesn’t feel like just a service I’m hiring but more of an investment I’m making. Hope that helps.

Phil Khor answered this question

What's the best marketing campaign that you've seen?

Great question! I'm always fascinated by Unilever's series of 'Real Beauty' campaign for Dove. I think Dove’s campaign went viral because it resonated with people's general realisation that female beauty as depicted by media and peers are not always normal, and that the most beautiful person you can be is yourself. It became bigger than the brand itself and I believe that's what great marketing campaigns are about.That said, I think they have also cop a lot of flak on social media for more recent campaigns, including the one where they create different bottles to represent the various shapes and sizes women come in. It's a bit over the top in my book but hey, justified or not, I think it's still has to be one of the best running campaigns over the years. 

Phil Khor answered this question

SavvySME Official
SavvySME Official, Official Account at SavvySME

Entrepreneurship

What's one inspiring quote you live by as an entrepreneur?

It always seems impossible until it is done.I think it was by Nelson Mandela.

Phil Khor answered this question

What are the best kept secrets of successful business people?

I reckon it's grit, some people have it, others don't. Grit is a personality trait of passion and perseverance for very long-term goals. I wrote about it here https://www.savvysme.com.au/article/445-do-you-have-the-will-to-succeed-do-you-have-grit-to-grow-your-business

Phil Khor answered this question

Miriam Miles
Miriam Miles, Founder at Resonate - Online Presence Development

Business Management

What are your top 3 tips for managing unpredictable issues that affect your workflow?

Add in your daily to do list a time when you deal with certain things. E.g. A time for checking and responding to emailsSimilar to the first point, if people constantly come to you throughout the day to speak to you, make it a point and make it known that they will need to come back to you at a certain time which you have allocated to such issuesI'll have to steal Jef's response here. Don't deal with individual problems. There are patterns and trends. Find ways to systemise everything. The trick is in anticipating problems and planning how you will respond before the issues come up.

Phil Khor answered this question

How does promotional article work on the Savvy platform?

Hi John, thanks for the question. Thought I'll re-post the answer to your question via PM again here for the benefit of other members too.The number of views on promotional articles vary a lot depending on the article's title, content, relevance, etc so there is no guarantee. Most promotional articles get an average of 400-500 views but we have seen ones that received over 3000 views in a period of a month. Promotional articles are shared across our broader networks too, and if it has good content, members tend to share it in theirs too.Good content tend to be more educational with a few helpful links (not too many I might add) to where they can get more help from you. Promotional articles are also shared in email digests and alongside relevant content, so it's a great way to get attention from those who are already interested in the subject.The best way to get maximum value on this platform is to demonstrate thought leadership by being helpful i.e. by blogging and answering questions genuinely without being seen as "spammy" or desperate for new business. We find that self promotion is turns people off quickly, which doesn't help our experts at all. Our Q&A is designed for business owners to get good expert advice, and self-promotional questions, answers or comments are deleted immediately. In fact, good answers give you long tail exposure from organic search.Hope this helps.

Phil Khor answered this question

What is your favourite or preferred project management system?

We use Asana a lot here at Savvy because it's incredibly powerful in tracking multiple initiatives, but it's also a great team communication tool, even with satellite teams. It can get quite a bit overwhelming if you're not used to working in a project environment, but otherwise it ticks most of the boxes for me.

Phil Khor answered this question

Neil Steggall
Neil Steggall, Partner at Wardour Capital Partners

Leadership

What is the number one skill required to build a successful SME?

#1 trait will have to be grit i.e. passion and perseverance for long term goals. Anyone can learn and become an expert at anything but there are inevitably hurdles in business, many of which might even seem insurmountable at the time. And without the will of mind, we won't get far.

I wrote an article about this previously /article/445-do-you-have-the-will-to-succeed-do-you-have-grit-to-grow-your-business

Phil Khor answered this question

What is wrong with this sentence?

Great brain teaser on an Easter weekend! Thanks Steve. I'm by no means an expert but would love to have a go. 

How about this? "There are skills to help you handle stress, including dealing with those who are causing you stress."

Phil Khor answered this question

Wendy Huang
Wendy Huang, Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Business Management

Who would be the business mentor you would love to learn from?

I met with one of our top influencers, Neil Steggall and suffice to say, it was time well spent. Neil has a refreshing insight into the SME market, how business really works and a great ambassador for our community. Highly recommended.

In addition, I reckon most of our top influencers would be great mentors and willing to help. All you have to do is ask.

Phil Khor answered this question

Liz edgecombe
Liz edgecombe, owner at sheoak trading pty ltd

Branding

How should I rebrand my business?

Hi Liz,

Thanks for your great initiative in asking the question. Branding is one of the hardest but also one of the most exciting challenges to overcome.

I had a look at your website, and you do have a great range of herbs and spices. I can see what you're trying to achieve by targeting a niche, but it's unclear the exact niche you're targeting, whether it be those looking for only pure herbs and spices with no preservatives that are naturally gluten free, or those who are looking for premium brands, in which case I couldn't tell really tell your premium brands from non-premium brands either. I also see that most of your retailers / stores are based in Victoria currently, perhaps location is the niche you are considering?

In any case, deciding on your niche is critical. You need to based your decisions on your goals, your successes to-date, your products and what customers told you they like about what you offer. It will be easier to go from there one you know the niche you're targeting. For instance, I see you have lots of spices beyond those used in curry, and it wouldn't do it justice to be branded as "curry creations", unless of you have had so much success here that curry herbs and spices is what you're going to focus on.

By the way, congrats on having a website. Just a quick observation: I can see a lot of potential for creating content by telling a story behind each of you herbs and spices and the mix blend. These are what food bloggers crave for. I love cooking because I love the stories, the culture, the origin, the adventure, the medicinal benefits, and so forth. Just imagine how such content can help draw traffic to your site but also bring your brand to life, whatever you decide to go with..

 

Phil Khor answered this question

Are you interested in building a strategic alliance?

This is great initiative, Mahua. I don't have expertise you mentioned, but I can see these are logical complementary skills for a strategic alliance with you, so this sounds like a great opportunity for both parties! BTW I wrote a post on RecruitLoop recently including a brief checklist of forming strategic partnerships which may be of interest to you. http://recruitloop.com/blog/the-power-of-strategic-partnerships/

Phil Khor answered this question

Michael Martion
Michael Martion, Owner at StartRight Accounting (Insignia Accounting & Consulting)

Accounting

Do you prefer an "all done for you" accounts process, or not?

Great question Michael. It's a personal choice but I think a 'done-for-you' service offerings makes sense with a few caveats. I'd suggest that the scope of processes included should be those either inextricably linked or has plenty of scope for synergy, such as what you have suggested for bundling tax, accounting and bookkeeping services. Secondly, bundling these processes should bring about operational efficiencies and therefore economy of scale, which in turn works out to bring better value for client businesses. Better value can also translate into additional services, such as business advisory services, which helps accountants to be more intrinsically involved in their clients business as partners, especially with the opportunities cloud accounting brings. It's helping businesses to gain another trusted advisor who has just been freed up from otherwise more mundane work. So that's a good thing in my books. The other consideration for me is about quality of work and serviceability. Will the work be outsourced to partners, or will it be all done in-house? If it's the latter, then can a single accountant or firm do better, say in both bookkeeping and tax accounting, than individual bookkeepers and tax accountants? So I think it depends on who is offering the services and how. It's a challenge to be able to consistently provide both the breadth and depth of capability, without compromising on quality - but none of these challenges are insurmountable and if executed well, goes a long way to reduce operational risks whilst increasing efficiencies and value to clients.

 

Phil Khor answered this question

Andrew Egan
Andrew Egan, Director & IT Specialist at

Regulatory and Compliance

Is an echosign contract coverable?

Hi Andrew,

Echosign's response: "You can choose who signs and specify the roles of stakeholders and determine which stage they need to sign." 

Also, "More info on proof of signature + custom doc. signature order + security measuresto identify signers. https://t.co/Lf7Tv0RtpY​"

LOL it would have been easier if Echosign is in here talking about these features, but hope this helps :)

Phil Khor answered this question

Andrew Egan
Andrew Egan, Director & IT Specialist at

Regulatory and Compliance

Is an echosign contract coverable?

Hi Andrew, great question. I have heard about Echosign but haven't used it yet. I was interested in the answer too, so I posted this question to my network and Echosign responded "Yes, in Australia e-sigs have the same legal status as handwritten signatures. Read here for more info: adobe.ly/16jqZ9U"

I've also asked them to clarify regarding proof of director sign off, and post the answer here so that everyone in the community can see it. Sounds like a great option for SMEs if we can be assured of these questions.

Phil Khor answered this question

Cherie Gillette
Cherie Gillette, Business Development at Australian Accountants

Advertising

What is the best way to advertise spare offices for rent?

Hi Cherie, I know someone who is looking to lease some space in Chatswood. Will forward your query to them.

 

Phil Khor answered this question

What is your favorite app and why?

I like Cheap Parking on my iPhone. Finding parking in the city is a nightmare, so the app solves a real problem for me. It's simple to use because it's intuitive and knows what I want - either 'cheapest' or 'closest' (from my destination). It's effective because it's always updated with all the early bird or flat rate specials. And lastly, it finishes the job - by giving me directions on how to get to the parking station of my choice. You can't really ask for more. Now that's what I call a smart app. :)

Phil Khor answered this question

Nick Chernih
Nick Chernih, Founder at LinkBuildSEO

Selling a Business

How do I calculate how much my business is worth?

Hey Nick, 

Great question. I think as business owners we often wonder about our business valuation but perhaps never get around to ask it.

I'm neither a qualified business valuer nor have extensive experience in this field, but I can talk to some of my personal experience and give you some ideas. In fact, I just went through a similar process involving a family business.


I used a combination of 3 methods below - initially as a back of the envelop exercise, then refine it iteratively: 


1) income based - i.e. earnings such as EBITDA and cashflow calculations


2) asset based - asset values, liabilities, liquidation costs, etc. I'd argue that you should consider both tangible and intangible assets, such as IP, brand recognition i.e. assets that have net positive effect on the business long term


3) market based - basically what the market is prepare to pay, based on comparing of recent sales of similar companies. For instance, sifting through sites like realcommercial.com.au or domainbusiness.com.au gave me a ballpark idea.



I reckon business valuation is a combination of science and art. The methods I used above is merely a guide, but you will find that there are lots of intricacies in applying these methods. What I found is that different assumptions will easily throw your calculations off a tangent. This is where a good professional business valuer can really help with bringing the art of applying these and other methods based on their experience. What I found critical too is a good business broker who knows the market inside out, and knows how to market your business accordingly.



At the end of the day, you need to be confident that the right combination of techniques and experience are used reasonably to valuate your business when you're ready to sell.



Hope this helps.

Phil Khor answered this question

Do you have any tips for creating a mobile app for a business?

Hi Linda, I came across this Infographic this morning, and thought you may find it useful - especially with some "best practices" summarised at the bottom of the page [Infographic] Time to go mobile

Phil Khor answered this question

Henrik Larsen
Henrik Larsen, Director at IePlus Pty Ltd

Social Media

What automated platforms or tools to use for social media?

Hi Henrik, I love Hootsuite - it's easy, intuitive and helps me manage across different networks. The Hootlet extension works really well for me and can even be addictive, if you're not careful :) And then there's the beast.. SocialBro, which I call on from time to time when I need some extra grunt in analysing twitter followers :)

Phil Khor answered this question

Wendy Huang
Wendy Huang, Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Public Relations (PR)

Where can I submit my press release for online public relations?

Here's a list of press release submission services in Australia, which you may find useful as a starting point.

Australia

PRWire

PRWire offers free distribution services to qualified users. They offer RSS functionality wherein users can have their own RSS feed based on subjects relevant to them. PRWire also offers SEO to their users to ensure high-ranking releases on search sites such as Google.

NewsMaker

This site optimizes your releases to improve search engine results, as well as distribution to social media and journalists. They also offer to increase the buzz your business’ brands in sites such as LinkedIn, Facebook and Twitter. It is a free service which can be upgraded to paid accounts that offers more customization.

Free Press Release

As their name suggests, Free Press Release gives out press releases for free. All users have to do is sign up, create then submit their press release.

Get2Press

Get2Press is an online distribution channel for presentation of press releases to media. They have specialized media lists, which include contacts to more than 28,000 media in Australia, New Zealand, Singapore and 19 other countries in Asia-Pacific via Get2Press. Their media lists include e-mail addresses of key journalists as well as editorial offices of the media.

MediaNet

MediaNet is an AAP business that offers various types of services for businesses. Their Press Release Distribution offers the largest selection of e-mail and fax distribution lists available.

Australia-Newswire

Offers paid distribution through numerous mass media outlets that start from $99 - $999. Australia-Newswire also offers international distribution.

The Media Game

The Media Game is a website wherein journalists and producers can easily view new press releases and download all the files with just one click. A user can also include articles, audio and video files.

Touchpoint Marketing

Touchpoint Marketing consists of experienced and public relations professionals. They offer help on single press releases locally and nationally. The prices range from $800 - $1,200 locally to $1,500 - $2,200 nationally.

Express Press Release

Express Press Release’s network is one of Australia’s largest press release distribution networks online. They also have thousands of clients around the world. Users can avail of their free accounts that distribute press releases in a week. Press releases of aid accounts that range from $29 - $59 are distributed within 24 hours.

Get The Word Out

Get The Word Out delivers your press releases directly to journalists and newsrooms around Australia through the use of e-mail. Their network consists of 2,600 e-mail addresses as well as 67 specialist subject categories that users can comfortably choose from.



In addition, you may want to try Source Bottle.  It's not a press release submission site per se, but you might be able to find PR opportunities by going through the listings.

Hope this helps. 

Phil Khor answered this question

Wendy Huang
Wendy Huang, Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Legal

Which Ones Are Exactly The Top Law Firms In Australia? ✔️




The top law
firms in Australia are often referred to as the "Big Six". These firms are
considered Australia’s most prestigious law firms. They handle some of the
largest mergers and acquisitions globally, not just in
Australia.



Allens Arthur Robinson

Allens Arthur
Robinson has been providing legal services for clients in Australia for more
than 180 years and in Asia for the past 30 years, offering one of the most
comprehensive legal networks in the region. By the way, Allens Arthur Robin forged an alliance recently with Linklaters LLP, a London-based firm with 2200 lawyers.



Ashurst Australia (formerly Blake Dawson)

In March 2012,
Ashurst and Blake Dawson combined forces to form one global team under the
Ashurst brand. Ashurst Australia has 24 offices in 14 countries. With over 400
partners and 1,700 lawyers in total, they offer the international insight of a
global network combined with local market knowledge.



Clayton Utz

Clayton Utz is
one of the largest full-service commercial law firms in Australia. They have
accounts with many of the top 100 companies in Australia as well as leading
multinationals in the region.



Herbert Smith Freehills

Freehills has recently merged with UK headquartered Herbert Smith law firm. It is the world's 3rd largest law firm by number of lawyers and 13th largest by revenues in 2011-12.



King & Wood Mallesons (formerly Mallesons Stephen Jaques)

King & Wood and Mallesons Stephen Jaques have come together recently to create a new legal powerhouse in the whole of Asia. The firm operates across Australia and Asia with expertise in mergers and
acquisitions, banking and finance, competition and anti-trust, dispute
resolution and litigation, tax, construction and environment.



Minter Ellison

Minter Ellison is one of the oldest, and
largest, full-service law firms in the Asia Pacific region with expertise in
cross-border deals, major infrastructure projects, capital markets and IPO
transactions, energy and resources, and telecommunications and technology. 

Phil Khor answered this question

Wendy Huang
Wendy Huang, Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Legal

Where can I find good lawyers in Australia?



Here is a list
of online directories of lawyers in Australia you may find helpful:



Australian Lawyers Directory 

Australian
Lawyers Directory is one of the more popular lawyer directory websites in Australia.
Its search function is user friendly and it offers a lot of options in
searching for your lawyer. You can search by suburb or by name. You may choose different areas of law, issues and special qualities.



Lawyers.com.au 

This site offers
a general search as well as an area search. You may search by
specialisation and through their monthly featured listings.



Findlaw Australia

FindLaw
Australia offers the users to search the appropriate lawyer for their given
legal issue and location. You can even search for a lawyer by name.



LawyerLink

This online law
firm directory allows you to easily find a Lawyer, Solicitor, Barrister or
specific law firm in your area in just a few simple clicks



GetaLawyer

GetaLawyer has a
general search function as well as a category search. They feature their
recently added lawyers and firms on the right side of their website.



City Lawyers

With City Lawyers, you can search by name, postcard, suburb or
street. They show the current number of lawyers in their directory per
territory.



IntellectualPropertyLawyers

Intellectual Property law in Australia can be
divided into several different areas, but essentially there are industrial properties
and copyright laws.

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