Small Biz Matters: People, Policy, Purpose.

Unpacking the latest round (and the others) Small Business Stimulus Packages - COVID-19

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 31 March 2020

So much stimulation, but so much confusion.

Despite most of the major government agencies (and many great accounting & bookkeeping practices) publishing really clear summaries there is still a lot of unknowns. What is available? Which of the options applies to me, and how and importantly WHEN can I access it?

There’s lots of treats on offer from the Lazy Susan of Government Support so how does a small business owner make sense of it all?

Who better to take us carefully and sensibly through this maze than Kylie Parker, Accountant &  Director at Lotus Accountants | Author of Planning Plan B | Xero Alumni | Co-Founder AccounTEK Global AND internationally sought after speaker on all things accounting.

Welcome to the show Kylie.

Topics we’ll be covering:

• We’re onto round three of stimulus package so there’s a lot of misunderstandings as we all scramble to understand what the latest version means to us as small businesses. Can you take us through the latest stimulus package which was just released?
• Obviously the latest package is just an addition, an enhancement of the other former policies. As well as what has been offered lately, what else is available:
  • Employers
  • Those employing apprentices
  • Sole traders
  • What about Trusts?
• How will the business receive these funds and when?
• What should businesses and accountants & bookkeepers be wary of. Obviously safeguards are in place to ensure no one is taking advantage. What might businesses think they can get away with and how is the ATO going to catch you out?
• Now obviously extending the life of ANY loan has consequences. What should businesses be aware of before they request deferring a loan by 6 months?

Suddenly got loads of time on your hands? Time to learn LinkedIn... with a Ninja!

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 31 March 2020

LinkedIn is the place to be if you’re B2B, we all know that. But are we getting to messaging, profile and social strategy correct? How can we possibly understand the algorithm (which keeps changing) and how can you tell if your message is even making a difference?

Like all social media there’s the good, the bad and the ugly. You still need to be yourself, polite and wear your “happy face” and know where the dangers lie, but this is business rather than socialising and sometimes it can be hard to tell the difference. For example, How do we build a LinkedIn network of followers and how do you find the balance between numbers and genuine connections?

There is literally no one else I would have on this radio show to educate you on priming your LinkedIn profile and LI social media planning than Jillian Bullock. She speaks all over Australia, is the only certified LinkedIn Ninja in Australia and is incredibly generous with her knowledge of the LinkedIn Matrix.

Welcome to the show Jillian.

Topics we’ll be covering:

• Broadly speaking when running a business, how important is it to make sure your LinkedIn profile is current and relevant no matter what business you’re in?
  • Why is LI more important to B2B businesses? Why niche in that platform?
  • How to stay relevant and top of mind in a world of social media noise?
• Marketing isn’t a one-size-fits-all approach, what are your top tips on posting to LinkedIn
  • Peak times & timing (first few mins are so important)
  • Posts vs articles vs comments
  • Where does LinkedIn Live fit into all of this?
• Secret Squirrel Algorhythms… how can we learn the matrix?
  • Why is reciprocity so important?
• What should we avoid?
  • Why are fake profiles dangerous for you and your business and how do we spot them?
• How do we build a LinkedIn network of followers and how do you find the balance between numbers and genuine connections?

NBN - Put Simply, will it cope?

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 24 March 2020

It’s the question on every business owner, the workforce and student’s lips across the country. Will the NBN infrastructure cope?…. Is it an essential service by definition so we can be assured of service when setting up? And what are some practical strategies we can implement at home to keep it running at the highest possible capacity?

With literally everyone accessing online everything we need the reassurance that the NBN will stand up to the test. This week we welcome on Small Biz Matters Paul Tyler the Chief Customer Officer for Business at nbn Australia who will talk us through the strategies already in place to support small businesses to connect and stay connected to the NBN in these challenging times.

Welcome to the show Paul.

Topics we’ll be covering:

• In a nutshell, is our internet Infrastructure ready for millions of Australian workers and students to start to use the internet all at once? Are there going to be certain geographical areas experiencing more issues?
  • Please supply stats on increase in bandwidth load, the max capacity of the network

• What contingencies are NBN putting in place as demand increases? What is nbn business broadband, how does it work? Can you get it at home?
• Have you seen more people racing to get connected? Is the NBN considered an essential service? So, if I have technician booked to connect me to the NBN can I be assured there will be enough skilled workers to get me up and running?
• Upload speed starts to become a bigger factor as we work at home. We are no longer just receiving data as we stream content but also need to send lots of data between home and work (For example a video production company will be uploading gigs rather than megabytes between locations) and of course a whole lot more live-streaming from everyone everywhere… how will this be managed, can upload speeds be increased beyond what is currently available?
• You may have seen Telstra CEO Andy Penn say last week on 7.30 advised not having everyone stuck at home using the internet at the same time. Given that things have ramped up and now everyone is working & studying from home, are there any realistic practical ways we can limit our impact all at once?
• Given this radical and very fast change in how we use our network, does this change how the NBN plans for the future?
  • Is it worth adding fibre to the premises rather than fttn to increase speed, and whether ISPs are limiting bandwidth for commercial reasons eg contention ratios

To find out more go to their website: https://www.nbnco.com.au/business

What makes a true leader and how can Small Business owners evolve to take that step up?

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 17 March 2020

The concept of Leadership is a bit topical … but for all the wrong reasons in the current climate. But focussing ourselves back on small business owners being life-long learners, let’s learn about how to develop leadership skills.

So what does it mean to be a real leader in your small business?  Is it possible to learn these practical skills quickly or does it take years of real-life experience in order to lead from the front?

Who better to ask for advice than the CEO of the Leadership Institute, Dana Lightbody. The institute’s aim is to create a singular point of contact for all leaders, regardless of industry. It can be lonely at the top but regardless of what industry you are in; leadership is universal.

Welcome to the show Dana.

Topics we’ll be covering:

• How do you define true leadership?
• Tell the listeners about your career journey and why you’re passionate about supporting women in leadership positions?
• In terms of leadership do you think a gender gap exists in reality or is it more of a hangover from the 1990s?
• What do you think it takes in the current climate to become a true leader?
  • practical strategies to improve your leadership skill set for both small businesses and corporate
  • Is the evolution a slow one or does it take an opportunity to present itself which you grab onto and run with it?

(Dana to include stats when talking through these points.

• Talk about the upcoming Empowered Woman event on 26 March 2020.

To find out more go to their website: https://www.theleadershipinstitute.com.au/

Finder - an Australian EntrepreTech Success Story, building from concept to global viability

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 10 March 2020

Small Business owners know there’s no such thing as an overnight success; it takes years of long hours, sacrifice and crappy two-minute noodle meals. So when you and your close friend have this idea and you know it’s got huge potential, how do you launch it from inception to a viable business, access funding for growth and then take on the world? And what happens when the horse bolts and you need to hold back on growth that’s too fast?

Importantly, you need self f  belief, solid strategy and to surround yourself with great people you know will guide you in the right direction.  Plus in a partnership (with a mate, no less) you need a foundation of trust and “squaring the ledger” with one another and those around you.

Today we learn from Finder - an Australian EntrepreTech Success Story.

One half of the founding team is Fred Schebesta Entrepreneur, speaker, author, Blockchain Australia Fellow, AFR Young Rich Lister 2019 who joins us today to share his fascinating journey and what’s in store for Australia success stories like Finder as they take the next, global step.

Welcome to the show Fred.

Topics we’ll be covering: 

• The partnership and business relationship has stood the test of time and lasted over many years between you and Frank; what’s your secret to partnering with a friend and making it a success?
• From the material that’s out there about Finder.com and the journey, it seems to be all about being part of a team. As you grow exponentially how do you keep the team culture positive through the ups and downs?
  • How has your role as Founder evolved?
• One aspect of business you’ve kept in your strategic planning has been to “square the ledger” with one another. What does that mean to you in the partnership and do you continue to integrate that into your team’s values set?
• A typical mantra you use is “Building a business or exercising a tactic” Talk us though why an innovative business should be aware of this concept?
• Growth can sometimes be too fast and overwhelm business owners. What are your practical tips for avoiding burnout and knowing when you’re “pushing the envelope”
• What were some of the pivotal points in the growth of Finder.com and did you really see them as important at the time?
• Fred, you have a unique view of funding – you don’t believe in Unicorns but rather a Phoenix. Can you explain that to the listeners – especially those who want to succeed in the fast-paced Fintech industry.

To find out more go to their website: https://www.finder.com.au/

Let’s not panic but rather, feel prepared

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 3 March 2020

So… we’ve all probably got a bunch of smallish concerns using up valuable brain space at the moment. There’s the BAS which was completed (hopefully) only last week, the fires which ravaged many of our fellow business owners, the economy is tanking, there’s no such things as imports from China right now… oh, and a little tiny virus scaring the bejesus out of all of us.

So we brought in an expert to talk you through some practical strategies (that’s what the show is all about) to foresee, identify and mitigate the risks of this potential threat. 

Welcome to the show Daniel.

Topics we’ll be covering:

• So Daniel, without creating panic and making us think too much about armageddon how can a typical small business owner break down this potential threat into strategies which are achievable and mitigate risk?
• What industries would be hardest hit in terms of the risk the virus could pose?
• What are some of the problems we need to consider?
• How do we go about prioritising these?
  • Staff?
  • Premises?
  • Stock?

• If security is about mitigating risks what strategies do you suggest to lessen the risk to your business
  • Breakdown into home-based businesses
  • Retail
  • Serviced based businesses
  • Construction
• Is insurance a factor here, or is it too immediate a threat to be thinking of what damage might be done?

To find out more go to their website: https://www.calamity.com.au/ 

Do you really charge what you’re worth or do you undervalue yourSELF?

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 3 March 2020

One of the greatest challenges when starting a business, or indeed all stages of growing a business is knowing what to charge.

Goods are easier to price - you compare your service and quality standards with that of your competition, test the market and off you go - but services can be tricky. Even industries where there are clear standards based on experience, qualifications and work, valuing yourself within that range isn’t always clear cut.

Do you aim for the middle of the pack? Do you start cheaper and then gradually increase your price or is it sometimes a race for the bottom?

In particular there’s 50% of us which probably undervalue ourselves and that’s females - particularly in the services industry. In celebration of International Women’s Day an expert in growth strategy joins us. Dr Abbie Grace is here to share some strategies you can implement to see your own value and then pitch to exactly the right type of client what you’re worth.

Welcome to the show Abbie.

Topics we’ll be covering:

• What’s your background and why are you so passionate about supporting small business?
• There are three steps to charging what you’re worth: Choosing the right niche, packaging the services you sell and then set your fees
• How does identity play into what kind of fees you charge, and even the kind of business you have?
• You have to present your services so you sell on the value of the outcome created NOT on the time it takes you to deliver.
• You set your fees based on the intersection of how much your client values the outcome, the value created AND how much they can afford.
  • The psychology and the conversation
  • Distancing yourself

To find out more go to her website: www.oneextrazero.com

A Strategic Update on support services, software updates and disaster relief from the ATO

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 25 February 2020

The small business community has been in turmoil in recent months. Between extreme weather events across the country, the bushfire devastation and the fallout for surrounding communities and now the Coronavirus and the impact on imports and exports there would be few businesses and humans behind them, unaffected.

Well, help is at hand. Whilst other agencies can be slow to act and have any impact, the ATO, thanks to it’s high level access to our data and real time information on businesses, can act quickly.  With extended deadlines, payment plans and extended support the administrators of our tax system are doing their best to keep you IN business.

Here to update us on the supports which are ALREADY in place for small business and recent improvements to the way we engage with them is the ATO’s Deputy Commissioner Andrew Watson.

Welcome to the show Andrew.

Topics we’ll be covering:

• The ongoing bushfires and natural disasters will and have had an impact on small businesses – what advice do you have for them?
  • Ongoing support the ATO offers for natural disasters, and that we apply auto two month deferral to postcodes (clients should call if they’re unsure)
  • In fact it is an whole of government approach to support, incl grants, as well as the deferrals already in place.
  • How long will this support be in place?
• Software update: The old fashioned and clumsy AUSkey is retiring and being replaced by MyGovID and RAM – what ARE these and why is it happening?
  • The WHEN: End of March deadline - is this a real deadline and what happens if we fail to meet the deadline. Are we locked out?
  • The WHY this is happening - what are you being asked from queries and what’s the response?
  • The WHO - does this apply to everyone?
  • Real life examples on what the improvements will likely be for businesses and the ATO
• Single Touch Payroll update - Most small businesses will be well underway, but for those who aren’t, what can be done?
  • Reminder that businesses have/are transitioned, and to call us if they need assistance
  • That this year will be the first time some businesses lodge the annual return this way, what will change at EOFY for reporting and documents to staff?
  • What if I’m the only employee? Does this apply to me?
• E-Invoicing – what is it, and what does this mean for small businesses?
  • Reduced payment times, cost to produce
  • When is this likely to impact small business?
• Recognising your business’ success - When you see a good business thriving, what are some of the hallmarks of that?
• Running a small business can be stressful, what are your suggestions to small business owners listening to this?
  • How to get help from the ATO and other government organisations
  • Signing up to newsletter
  • Extended hours for phone support
  • Phone-back option
  • Payment plans

To find out more go to their website: www.ato.gov.au

When did you last investigate your exposure to modern slavery in your small business supply chain?

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 18 February 2020

Did you know in 2018 the Modern Slavery Act came into affect for all businesses over $100M profit? It means they must report on the people and materials in their supply chains to prove they are not involved in what’s termed modern slavery. Whether it be working conditions, where your raw materials come from, or worse, it’s not something any business needs on their record.

So, it may not relevant to us now but we in small business know it won’t be long before this piece of legislation is coming for us too.

But what if I told you that you can opt in? Having this tick of approval might help you get that lucrative corporate or govt contract. Or really prove you’re as socially conscious as you claim. So understanding and mitigating the risks in your supply chain is ethically important.

So what is the 2018 Modern Slavery Act, the process for reporting and how is it now and into the future going to affect small businesses in Australia? Stephen and Sarah Morse already have decades of experience in this industry, some not so positive but are putting all of this into supporting businesses to understand the Act, be compliant and decrease their exposure to the Modern Slavery trade.

Welcome to the show Stephen & Sarah.

Topics we’ll be covering:

• What is the act and how does it affect small business in terms of compliance?
  • Tendering process is where the majority of transparency needs to be shown
  • Mandatories - affects $100 gross profit, dept home affairs administrators, approx 3000 entities at moment but likely to expand
    • These entities (or those who wish to opt in) have to report every year.
    • Guidelines include 7 steps, how have you investigated and consulted to mediate the risk, what KPIs are you putting in place. Reasonable steps are the expectation.
    • The trickle down affect will mean all suppliers (inc small business) need to demonstrate compliance (opt-in) to maintain and tender.
    • transparency (explore their supply chain risk and exposure

• Why is it beneficial for a small business to opt in (see it as an opportunity, remain competitive, tenders for govt and corporate & consumer pressures)
  • What could you do to show leadership & how is this helping globally
  • Attracting new talent, making it part of your DNA, KPIs
  • Engaging with NGOs who are working in this space - examples, share value partnerships, the 1% theory
  • It’s not just about compliance

• Broadly your small business journey and what led you to start this business and why you’re passionate about supporting small business
  • Healthcare & Humanitarian backgrounds, Christian mission support
  • Own faith convictions around poverty, justice & investigations in Spain & Europe free movements into different areas, porous borders, geopolitical factors,
  • Taught English to business
  • Completed a PHD examining socioeconomic factors of people trafficking
  • Upon return to Aust we were going to return to Aust, but the campaign fell apart due to family circumstances
  • Clean start, but keeping in touch with networks for modern slavery
• Talk to the legislation - how did it come about and who did they consult with?
  • Legal professors, chambers
  • Politically driven to happen before Federal legislation
• The global market in which we work, how does this impact small business supply chains
  • What is the slave trade - definitions, inproving wages, workplace health & safety, access to healthcare, education, the broader community

• How to engage with an expert as a small business and what can you expect them to do to help you?
  • Stephen & sarah - gaps analysis, risk assessment in the supply chain

• What are some of the ways we can, as business consumers, make those decisions
  • Recommended orgs which have business supplies

To find out more go to their website: www.unchained.net.au

Sarah Morse, Founder and Director

With over twenty years of global leadership experience, Sarah’s work draws upon lessons learnt while leading teams in humanitarian work internationally, and as a cancer nurse in Australia.

Since the age of 17, when she visited Africa for the first time, Sarah has learned life's richest lessons from some of the world's poorest people. She is passionate about combatting modern slavery, having worked with survivors of human trafficking in Spain.

Dr Stephen Morse, Founder and CEO

With over twenty-five years' global leadership experience, Stephen brings an engaging and refreshing perspective to fight against modern slavery.

Known for his depth of insight, unique perspective and engaging presence, Stephen draws upon lessons learnt from his practical experience as a leader, and also his work in academic research on the socio-economic dynamics that undergird modern slavery. He also uses his cross-cultural leadership experience to help develop critical skills in a global marketplace.

Unchained Business Services

Unchained was founded by Stephen and Sarah in 2018. They inspire Australian companies to leaders in combatting modern slavery through their keynotes and masterclasses, and through the Readiness Framework, where they help companies to implement the Modern Slavery Act. Through this postive engagement, Stephen and Sarah encourage companies to go beyond compliance, to invest in those communities where slavery exists.

Profits from Unchained will go towards supporting the work of social enterprises that are part of the Freedom Business Alliance. These businesses train and employ modern slavery survivors in skills that are ethical, marketable and transferable.

Unchained have a team of specialists in supply chain management and procurement to help your small business identify the risk of modern slavery in your supply chain and operations, and develop an improvement strategy that will make you more competitve in the market, and attrative to an emerging purpose-led workforce.

Strategic Thinking to Improve your small business efficiency

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 11 February 2020

It’s a significant business milestone when you can finally say my business is entirely paper free. Imagine the freedom when everything is in one place and accessible anywhere in the world? Every piece of relevant financial data at your fingertips. How do you get to that point? Where do you start to head down that liberating path? And what are the pitfalls to avoid along the way when it comes to cloud based software?

Today’s Small Biz Matters we welcome to the show by Luis Sanchez, who is the  Managing Director of  ReceiptBank in Australia who will share with us not only some excellent starting points for those still drowning in filing but also some top strategic thinking & advice for the FUTURE of this exciting FinTech company.

Welcome to the show Luis.

Topics we’ll be covering:

• What does the reality of going paper free mean for a small business?
  • Getting time back (family) marriage
  • Most time doing admin is at night when time family
  • Statistics - % time spent on dealing with receipts
    • The benefit to saving you money with your accounting & bookkeeping fees
  • Space – 25% commercial rental space with paper!
  • The positives and negatives...

• Recent events are another good reason to go paperless and have everything in the cloud
• What’s the process?
  • Getting started - asking financial institutions to stop mailing you stuff!
  • Auto-forwarding to a cloud place
  • Do you have to rename every document? (talk about search functionality here and how far it’s come)
  • Adding on the go

• Why is it a good idea for Audit purposes?
  • Not missing tax deductions as a chance to reduce your tax debt
  • Set & forget
  • The feeling of being able to find anything within a few minutes
  • The Marie Kondo- joy of tidying up
    • Does this folder spark joy? If not get rid of it!
  • Fading receipts

• What are the options? Google Drive / Dropbox / Products like RB
  • Power of search functionality now from PDFs and JPGs is coming
  • What does getting in the cloud actually mean?
  • Financial services legislation and why it’s good to engage with products which meet this standard
  • What should you expect from a good piece of receipting software?
    • Online security
    • Disaster recovery
    • How to protect yourself
  • The 3-2-1 system of backups

To find out more go to their website: https://receipt-bank.com/au

 

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Luis is a Harvard-educated MBA who brings over 20 years of global experience with several multinationals including JP Morgan, General Mills, Visa and Intuit.  Ten years ago, Luis moved his focus to accountants and bookkeepers. He spent seven years with Intuit in America, doubling the size of their accounting business before joining Intuit Australia in 2016 as Marketing Director. In 2 years, Luis tripled the Intuit Australia business from 53k customers to 161k customers.  He joined Receipt Bank in October of 2018.

As the General Manager for Receipt Bank Australia, Luis now works closely with the Receipt Bank global leadership team to shape Receipt Bank’s strategy, scale operations and bring the benefits of real-time accounting to thousands more businesses.  “Over the last 8 years, I’ve seen firsthand how the right tools can make or break a business. That’s why it’s been so inspiring to see how Receipt Bank has enabled accountants, bookkeepers and their clients focus on what matters. Thousands of firms can now spend more time helping their customers, instead of just dealing with paperwork,” Sanchez explains.