Welcome to August 2021
This month’s focus is “‘Emergence”, in this, the last month of Winter for our clients. In this issue:
- What to do this August with your business
- New grants available
- NEW – Marketing 102 workshop with Ellie, taking place 30 August – campaign planning and ideas in abundance – email Ellie now to book your slot
- NOW FULLY BOOKED ‘confidence’ session for 6 people to run in August. This is a support group to grow your confidence in a friendly environment, drop Ellie a note if you would like to be on the waiting list
COVID latest – we are operating within NSW COVID safe guidelines and offering Zoom for those that do not wish to visit the office. See you soon for your 1-hour advice session!
Ellie & Phil
What to do this August
Hey Ellie here… how about these tips…
1. Reflect on Your Business Over the Past Year
The financial year ends in April and the calendar year ends in December. Use August to reflect and review. December is an awful month because everyone is so busy. And in April everyone is already selling in time for Summer. It’s the last great time to sell before the downturn. August should be the month you use for reflecting and reviewing everything from my businesses to my personal finances.
2. Prepare for the Summer Season
Whether you’re offering services or products, the best time to start preparing for the most chaotic time of the year is now. It’s the last peace and quiet you’ll have until Christmas Day.
3. Opening Up New Streams of Income
Attempting to open up a new stream of income is always a tricky, time-consuming business. Whether you want an existing business to monetize further, or you just want to start a side hustle, it can take months of planning and testing. Use August as the best time to start this. Then you have the whole month of August to dedicate to it before things start to ramp up again.
4. Concoct a Plan for the Months Ahead
This is more of an addendum to the ‘reflection’ stage. You now know how your business has done for the year. But reflection means nothing if you can’t use those lessons going forward.
One of the most effective things I do during August is I look into my marketing. I examine my stats and I think about whether I’ve reached my target market and, if not, how I can reach it going forward. You could also optimize Your Google My Business Profile. Your Google My Business profile appears in Google Maps search results as well as local results for regular Google searches. It’s also the Knowledge Panel that displays on the right-hand side of a results page when someone searches your business. Make sure your Google My Business profile is optimized for August with:
- Summer-themed Google posts
- Questions and answers about relevant topics (Do you serve dairy-free ice cream?)
- Updated summer hours
- Photos of your summer-themed or seasonal products/services
5. Create a “not doing” list.
Create a list of things you could be doing but chose not to do right now. Why? 2 reasons – a.) It forces you to reconcile the best use of your time right now. By knowing what you’re not doing, you’re telling yourself that the things you ARE doing are the most important and high-value items.b.) A “not doing” list helps assuage that gnawing feeling of “what am I forgetting?” Until you empty your head – so to speak – on a list, you’ll miss things.
August Can Be One of the Most Valuable Months of the Year. What is your priority in business in August?
DID YOU KNOW?
Businesses, sole traders, and not-for-profit organisations can now apply for JobSaver payments of up to $10,000. These payments will provide cash flow support to impacted businesses to help them maintain their employee headcount as of 13 July 2021.
If you’re a business, sole trader or not-for-profit organisation in NSW and you’ve been impacted by the recent COVID-19 restrictions, you may be eligible for the 2021 COVID-19 JobSaver payment.
JobSaver will provide cash flow support to impacted businesses to help maintain their NSW employee headcount on 13 July 2021.
Eligible businesses and not-for-profit organisations with employees will receive fortnightly payments backdated to cover costs incurred from week 4 of the Greater Sydney lockdown (from 18 July 2021 onwards).
The payment will be equivalent to 40% of the weekly payroll for work performed in NSW:
- minimum payment will be $1,500 per week
- maximum payment will be $10,000 per week.
- Weekly payroll should generally be determined by referring to the most recent Business Activity Statement (BAS) provided to the Australian Taxation Office (ATO) before 26 June 2021 for the 2020-21 financial year.
If you’re a non-employing business, such as a sole trader, you may be eligible to receive a payment of $1,000 per week.
Regulation change – NSW landlords – retail and commercial tenancies
In light of recent Public Health Orders for New South Wales, urgent new regulations have been passed by the NSW Government. Landlords will be restrained from taking action – including eviction against an impacted lessee, if the impacted lessee breaches a retail or commercial lease for reasons related to the impacts of COVID-19.
The breaches must occur during the prescribed period which commenced 13 July 2021 and runs until 20 August 2021. Only breaches relating to the economic impacts as a result of the pandemic are protected. This would normally include failing to pay rent/outgoings or by failing to open for business.
A landlord may still take action for breaches that are unrelated to the economic impacts of the pandemic or (subject to further confirmation) breaches before the prescribed period.
IMPACTED LESSEE CRITERIA
The new regulation only applies to leaseholders who meet the criteria of an ‘impacted lessee’ where:
(a) The lessee qualifies for one or more of the following grants:
Micro-business COVID-19 Support Grant
COVID-19 NSW Business Grant
Job Saver Grant.
(b) The following turnover in the 2020 – 2021 financial year was less than $50 million:
if the lessee is a franchisee, the turnover of the business conducted at the premises or land concerned
if the lessee is a corporation that is a member of a group, the turnover of the group
in any other case, the turnover of the business conducted by the lessee.
Once a breach occurs, a tenant is required to provide their landlord with a statement and evidence to support their claim of meeting the impacted lessee criteria. The type of evidence required is not clear however it’s likely to determined case-by-case.
NEW CLIENT UPDATE
Eco Basics – welcome new clients! As well as many more.
Welcome to our new clients, including the brilliant Eco Basics online store, working alongside us to explore scaling their business. In addition to Ruby and Frank, celebrated ceramists who produces commissioned pieces and workshops for the locals in Federal. in addition to an imaginative idea for an sustainable building material. We are also working with a creative writer with children’s books, who has returned during COVID after living for 10 years in New York….working with an entrepreneur who is looking to grow and develop her musical instrument repair business….and with a pair of entrepreneurs who are working with horses, children and teenagers for better mental health.
Marketing 102 – get our ideas and campaigns in order
This workshop is focused on those people who understand marketing and have ideally attended Marketing 101, you will receive a questionnaire for completion before the session that will help with the pre-work needed before this workshop. We will be brainstorming ideas for thematic campaigns, what the likely tactic could be, what behaviour we are trying to have happen and how we measure success.
You will be exploring current trends that might influence ideas. You’ll need to discuss your marketing goals and objectives, including goals for market penetration and more importantly how your product and service meets the need of your customer.
You need to be prepared to discuss your
- Desired brand personality – review of current positioning
- Target market attributes plus likely wants and needs
- Current and desired client base
- Current sales and marketing activities
- Key project dates for marketing calendar
- Marketing activity budget allocations
- Details of events run in the past – how did they perform?
- Samples of current marketing activity (i.e. collateral, print advertisements)
- Details of key events and opportunities for the next 18 months
Date: Monday 30 2021
Time: 12pm – 2pm
Location: Zoom online Meeting, or in person if possible
Bookings: ASAP, spaces will not hang around! All paperwork completed by 16th August 2021
Other events news…
To find out about other NORTEC courses on offer click here
To find out about The Australian Small Business Advisory Services (ASBAS) program provides services that help small businesses to make the most of digital tools and offers broader advice specific to your business needs. Northern Region BEC is the ASBAS provider that covers Northern NSW, with offices located in Armidale, Coffs Harbour and Port Macquarie. We run an extensive program of high-quality workshops and training webinars and have advisors on the ground speaking with clients daily. We have around 700 small business clients in Northern NSW alone – from Coffs Harbour to Tweed Heads, check out their training here.
DID YOU KNOW?
Bay-FM interview/s for early August….find out what other entrepreneurs are up to every Tuesday, 11 am to 1 pm with Phil Daly, on Bay-FM, www.bayfm.org
- Tuesday, 27/7/2021 – Carly Moore, from ‘A Bespectacled Life’, a Health and Wellbeing Coach – listen online at, Soundcloud site, at https://soundcloud.com/pinnacle-business
- Tuesday, 3/8/2021 – Entrepreneur, Brett Lawler from ‘Cascade Architectural Concrete’
- Tuesday, 10/8/2021 – Entrepreneur, photographer and storyteller, Hannah Pye from ‘Hello Hann’
What Is a Stakeholder and why are they important to your business success?
A stakeholder is a party that has an interest in a business and can either affect or be affected by the business.
The primary stakeholders in a typical business environment are its investors, shareholders, employees, clients/customers, and suppliers. However, with the increasing attention on corporate or business social responsibility, the concept has been extended to include communities, governments, and even trade or professional associations. An entity’s stakeholders can be both internal or, external to the business.
In January 2019, Build Grow Run, when we were initially establishing the Entrepreneurship Facilitator Service, developed a Stakeholder Management Plan, that has been refined, during the 2020 and 2021 periods, and implemented over the past 2.5 years. This plan developed a strategy for managing and developing relationship/s with our key stakeholders across our area from Lennox Head through to Tweed Heads.
A common problem that arises for businesses with numerous stakeholders is that the various stakeholder interests may not align. In fact, the interests may be in direct conflict. For example, the primary goal of a business, from the perspective of its shareholders, is to maximise profits and enhance the shareholder value. Since labour costs, or salary and wages, are unavoidable for most businesses, a business may seek to keep these costs under tight control. This is more than likely to upset another group of stakeholders, its employees. The most efficient businesses successfully manage the interests and expectations of all their stakeholders.
The purpose of Build Grow Run’s Stakeholder Engagement Plan for Richmond – Tweed Heads EFL is to:
- Regularly identify the range of stakeholders and develop priorities of delivery based on identified needs of each stakeholder, who may deliver complementary services and/or programs to our target audience, or Stakeholders who are vital to the on-going success of the Build Grow Run/EFS Entrepreneurship Facilitator Services,
- The BGR Entrepreneurship Facilitator is required to review, update and complete the Stakeholder Engagement Plan in order to meet our contractual requirements,
- To outline the strategies and initiatives that are vital to building trust and developing strong relationships with our stakeholders, in order to meet or exceed their expectations, and
- To gain broad community support to obtain ‘social licence’ to deliver this Australian government, Department of Education, Skills and Employment (ESE) initiative.
As a business, it is vital to regularly check in with your stakeholders and to ask for feedback on how the relationship is going, so that if required improvements may be made. Feedback may be in person, 1 on 1 or, small group/s, via an email, or spontaneous discussion, or via a quick written feedback tool.
After the current COVID regulations are relaxed we will have a stakeholder gathering to chat to our stakeholder’s in person. Now, Build Grow Run would like feedback from our stakeholder/s that will take 5 minutes.