This should be a great seminar on 25ht Feb. Please book... best
Ivan
http://www.bsi.com.au/news/emails/smsf-property-feb10/smsf-invitation-bsi.html
Friday, February 12, 2010
Wednesday, February 10, 2010
Life after Ripoll – what does it mean to your business? - Richard Kilpin – CEO of AFA
A Financial Planners Value Proposition:-
People
- Live to long – (ensure that they have adequate savings)
- Die too soon – (Life Insurance, TPD)
- Get Ill – (Income Protection)
A Financial Planner should
- give impartial advice to clients;
- help clients through tough decisions and events
- educate and coach
A Financial Planner provides Advice vs Selling Products.
Financial Planners have traditionally been paid by Product Providers vs getting paid by clients for services rendered. This could cause an inherent conflict of interest for the Financial Planner.
It is key that the Financial Planner has as part of his DNA the Trust, Respect and Transparency of his client.
RIPOLL INQUIRY
The Ripoll Inquiry covered the following:-
- Role of Advisers
- Fees and Commissions
- Advice Documents
- Adequacy of PI
Recommendations of the Ripoll Inquiry
- The Financial Planner is to act in best interests of Clients
- Pay for value of Advice – not by Product
- Tax Deductability of Financial Planning Advice
HENRY REVIEW
In 2030
- Population is currently 22m – will be 35m
- Health is currently 4% - will be 7% of GDP
- 22% of population will be greater than 65
- Superannuation Currently 1.3 Trillion – it will probably be $5 trillion in 2020
There needs to be a major overhaul of tax and superannuation and infrastructure so that Australia will be able to plan for the future.
The Australian Government needs a roadmap for the next 50 years.
THIS IS A CALL TO ACTION!!
Financial Planners and Advisers will need to step up to the Plate and ensure they are
- adequately educated to manage and advise on these funds.
- there are systems and processes to cope with the above
People
- Live to long – (ensure that they have adequate savings)
- Die too soon – (Life Insurance, TPD)
- Get Ill – (Income Protection)
A Financial Planner should
- give impartial advice to clients;
- help clients through tough decisions and events
- educate and coach
A Financial Planner provides Advice vs Selling Products.
Financial Planners have traditionally been paid by Product Providers vs getting paid by clients for services rendered. This could cause an inherent conflict of interest for the Financial Planner.
It is key that the Financial Planner has as part of his DNA the Trust, Respect and Transparency of his client.
RIPOLL INQUIRY
The Ripoll Inquiry covered the following:-
- Role of Advisers
- Fees and Commissions
- Advice Documents
- Adequacy of PI
Recommendations of the Ripoll Inquiry
- The Financial Planner is to act in best interests of Clients
- Pay for value of Advice – not by Product
- Tax Deductability of Financial Planning Advice
HENRY REVIEW
In 2030
- Population is currently 22m – will be 35m
- Health is currently 4% - will be 7% of GDP
- 22% of population will be greater than 65
- Superannuation Currently 1.3 Trillion – it will probably be $5 trillion in 2020
There needs to be a major overhaul of tax and superannuation and infrastructure so that Australia will be able to plan for the future.
The Australian Government needs a roadmap for the next 50 years.
THIS IS A CALL TO ACTION!!
Financial Planners and Advisers will need to step up to the Plate and ensure they are
- adequately educated to manage and advise on these funds.
- there are systems and processes to cope with the above
Investment Markets - what to look for in 2010
Willliam Tomac Global Ventures International - speaking at the GENXT Roadshow – AFA Conference 10 Feb 10
GVI invests in quality intnl companies
nestle,
colgate – good branding – endorsed by dentists, 75% revenue in emerging markets
Telefonica (Spain),
Exxon, Shell
http://www.gvi.com.au/downloads/news/Company_Profiles.pdf
What to look for in a Company
n• Looks to buy good quality businesses cheaply
• Either 1,2 or 3 in space and difficult to displace
• Transparent
• Good Point of Difference
• Regular and Increasing Dividends to Shareholders – generally outperform companies with low dividend yields re growth.
More than half of GVI’s holdings will increase dividends in 2009 - At the time of the last presentation on 13th August, some 51 out of 66 of GVI’s holdings had reported their results and of these 47 had delivered results that either met or exceeded analyst expectations. More significantly, 56% of GVI’s holdings are increasing their dividends for 2009. While another 39% have indicated that they will maintain their dividends for the year, with only 5% expected to cut their dividends. Those expected to cut their dividends are some of GVI’s more cyclical holdings, however their balance sheets remain strong and the quality of their businesses are high. http://www.gvi.com.au/downloads/news/09_ADVISER_BRIEFING.pdf
• Strong and Lazy Balance Sheets are good!!
• Grow earnings and Dividends over time
• Good Margins
• EBIT has consistent growth
• Strong Brand
Where to in 10 years?
Risky stocks will get nailed – go for quality and sustainability – with focus on emerging markets.
believes there will be a correction - probably won’t go to march 09 levels.. .but growth wont be like it was. upturn was emotion based not fundamentals based.
Inflation Expectations - means that bonds will look attractive -
Aus residential property most expensive - is it sustainable?
Commercial real estate in Aus - white elephant.
M&A will grow into the future . Large companies with strong management will be acquiring distressed businesses.
This happens typically after a recession where the shit is weeded out of the system.
Emerging and Developing Nations will play a key role over next 10 years.
Looks at Demographics, Infrastructure
Interesting change over the years… before Stocks were held for years… now average stock held for 7 months.
GVI invests in quality intnl companies
nestle,
colgate – good branding – endorsed by dentists, 75% revenue in emerging markets
Telefonica (Spain),
Exxon, Shell
http://www.gvi.com.au/downloads/news/Company_Profiles.pdf
What to look for in a Company
n• Looks to buy good quality businesses cheaply
• Either 1,2 or 3 in space and difficult to displace
• Transparent
• Good Point of Difference
• Regular and Increasing Dividends to Shareholders – generally outperform companies with low dividend yields re growth.
More than half of GVI’s holdings will increase dividends in 2009 - At the time of the last presentation on 13th August, some 51 out of 66 of GVI’s holdings had reported their results and of these 47 had delivered results that either met or exceeded analyst expectations. More significantly, 56% of GVI’s holdings are increasing their dividends for 2009. While another 39% have indicated that they will maintain their dividends for the year, with only 5% expected to cut their dividends. Those expected to cut their dividends are some of GVI’s more cyclical holdings, however their balance sheets remain strong and the quality of their businesses are high. http://www.gvi.com.au/downloads/news/09_ADVISER_BRIEFING.pdf
• Strong and Lazy Balance Sheets are good!!
• Grow earnings and Dividends over time
• Good Margins
• EBIT has consistent growth
• Strong Brand
Where to in 10 years?
Risky stocks will get nailed – go for quality and sustainability – with focus on emerging markets.
believes there will be a correction - probably won’t go to march 09 levels.. .but growth wont be like it was. upturn was emotion based not fundamentals based.
Inflation Expectations - means that bonds will look attractive -
Aus residential property most expensive - is it sustainable?
Commercial real estate in Aus - white elephant.
M&A will grow into the future . Large companies with strong management will be acquiring distressed businesses.
This happens typically after a recession where the shit is weeded out of the system.
Emerging and Developing Nations will play a key role over next 10 years.
Looks at Demographics, Infrastructure
Interesting change over the years… before Stocks were held for years… now average stock held for 7 months.
Monday, February 08, 2010
Is Avatar good for the Jews?
There's no doubt that it's very good for James Cameron who is making box office history. His latest sci-fi spectacle has amassed the biggest worldwide gross for any film, beating Titanic, the previous feature film also produced by James Cameron.
With so many people seeing it, discussing it, and analyzing every last nuance in it, it's relevant to ask the question that serves as the punchline for the old Jewish joke when the little boy ecstatically tells his immigrant father, “The Yankees won,” and the old man with bewildered expression responds, “But tell me, is it good for the Jews?”
For religious viewers there are many subtle messages in the film that beg for a theological response, be it pro or con. Not surprisingly, the spiritual overtones of Avatar were of interest in Vatican City, where the film was reviewed by Gaetano Vallini, a cultural critic for L’Osservatore Romano, the daily newspaper of the Holy See.
In his quite negative review, considered so important that it was reprinted in Catholic journals and newspapers round the world, Mr. Vallini wrote that for all of the “stupefying, enchanting technology” in the film, it “gets bogged down by a spiritualism linked to the worship of nature.” Its implied heresy overrides any other reasons to warrant approval for viewing.
Of course I can't speak for everyone (two Jews, three opinions), but this rabbi thinks it's a film you won't want to miss, precisely because of its myriad positive Jewish references and insights.
If Cameron never went to Hebrew school he surely had to discuss his work with a rabbi.
Watching it I had the feeling that if Cameron never went to Hebrew school he surely had to discuss his work with a rabbi. The connections with Torah, Midrash, and Hebrew words are just too frequent and striking to be accidental. And if anyone thinks I and the many others who have spotted the biblical allusions and the Jewish associations are reading too much into the story, seeing more than what’s there, it shouldn’t escape us that as one of those rare films meant to be watched ideally in 3-D, it literally begs to be viewed in every dimension, with keener vision and deeper understanding.
In the theater we have to put on glasses to better grasp the producer’s message. That is a perfect metaphor for our need to come prepared to “see” with what is often called “our third eye” – not just with the sight of our eyes but the insight of our minds.
It is a thrilling intellectual experience to note the little clues to Cameron’s intentions scattered throughout the movie.
The Na'vi
The name of the heroic people who live in the Garden-of-Eden-like planet of Pandora is Na'vi. I’ve had people tell me this couldn’t have anything to do with the Hebrew word navi that means prophet. After all there is no suggestion that these primitives were able to predict the future. But the truth is -- and it seems Cameron knew this -- the root word navi really means seer, someone with the capacity to see more than others. And that is exactly the point of the story.
With all of the technological prowess of the earthly invaders, the humans who came to despoil this new-found planet simply could not see what the far simpler and “less civilized” inhabitants recognized so clearly. The Na'vis worshipped not themselves or their achievements but a higher supreme power. And could it be mere coincidence that the name of the God they revered, eywa, is but the re-arranged letters of the Tetragrammaton, the holy four-letter name for the Almighty that Jews do not even dare to pronounce as written?
Man vs. God
The hubris of man who confuses technocracy with wisdom is a theme that continues to haunt Cameron, just as it was the pivotal premise for Titanic. “This is the largest ship ever built. It is a testament to modern man's genius. It is indestructible. We have finally and fully conquered nature. We are the masters of the universe.” That's what the builders of the Titanic repeatedly boasted before the luxury liner’s maiden voyage. But the iceberg was stronger. God's creation bested man's. Human arrogance was tragically humbled.
It was man the technocrat, in the age of the first industrial revolution of history, who proclaimed God as no longer relevant.
Titanic was a contemporary retelling of a powerful biblical story. Its theme goes back to the book of Genesis and the rebellion against God by the builders of the ancient Tower of Babel. Mankind had just learned how to build bricks, how to erect structures strong enough to withstand forces of nature. With the arrogance of man's first demonstration of his ability not to be totally subservient to the whims of his environment, he fooled himself into believing that he was nothing less than godlike. That was the generation that sought to build a skyscraper so tall that they would reach up and “pull God from his throne.” It was man the technocrat, in the age of the first industrial revolution of history, who proclaimed God as no longer relevant; the genius of human creators was deemed sufficient for ruling the world.
One of the biblical commentators of the 17th century even suggests that the builders of the Tower of Babel were smart enough to build a spaceship that could soar into the heavens, and in that way literally pull God off the seat of his power. That is almost precisely paralleled by what happened when the first cosmonaut, Yuri Gagarin, returned from his orbit of the earth and mockingly said, “There is no God. I was in the heavens and I did not see him.” Human arrogance rooted in scientific achievement led to the mistaken assumption that the power of man exceeds that of the Almighty.
Earth's Caretakers
With Avatar, Cameron takes this selfsame message one step further. Man's ego, man's greed, man's indifference to the purity of nature and its creator is a threat not only to earth but to all of the planets that surround us.
In an interview with Agence France-Presse, Cameron explained that he saw his movie as a metaphor. “We’re here, we’re big, we’ve got the guns, we’ve got the technology, we’ve got the brains, we therefore are entitled to every thing on this planet and beyond. That’s not how it works and we’re going to find out the hard way if we don’t wise up and start seeking a life that’s in balance with the natural cycles of life on earth.”
That's a message so crucial to our survival that the Torah repeats it in countless ways. Every seventh year the land is to remain fallow to remind us that we are merely its guests, not its owners. Every 50th year is the Jubilee when every Jew is to spend his time not in work but in study, to reflect upon our spiritual responsibility to ourselves, to our families, and to the world. If we are forced into waging war against our enemies, we are commanded not to cut down the trees of a city. (Deuteronomy 20:19)
The utter rapacity of the human alien invaders in Avatar is forcefully illustrated by the cruel disregard of the magnificent natural setting of Pandora. And yes, they even destroy “the holy tree” worshiped by the Na'vi. A planet like the Garden of Eden with a holy tree -- what a remarkable reminder of the Tree of Knowledge in Genesis which is off-limits to man to teach that God's knowledge is superior to ours.
More Connections
The Na'vi in Pandora have a mountain that “hangs over their heads.” The only parallel I can think of is the famous midrash that tells us when the Jews stood at Sinai and made their commitment to abide by God's laws, the mountain was lifted over their heads to tell them that the consequence of disobedience would be their destruction.
The Na'vi in Pandora even have a mountain that “hangs over their heads.”
The human aliens in Avatar are mighty, with awesome weapons of warfare. The Na'vi defend themselves with primitive bows and arrows. And yet they succeed. And that too is a biblical message: “Not with might and not with strength, but with my spirit says the Lord” (Zechariah, 4:6).
The savior of the Na'vi and the film's hero is, remarkably enough, a man with a physical disability. In the Bible it was Moses, “heavy of speech and heavy of tongue,” who was sent as deliverer. In spite of his impairment, he got across the message. In the movie it is a Marine who cannot walk but who nonetheless leads the Na'vi to successfully defend their way of life and to walk in the way of their ancestors.
Yes, the Na'vi religion with its worship of nature is a little too close to the pantheism of Spinoza to make Jews feel comfortable. Yes, the Na'vis are still pagans, and like the church I freely acknowledge there are ideas in Avatar that are not in accord with our own belief system. But at long last I am grateful for a movie that can serve as a powerful springboard for valuable discussion, for a deeper clarification of Torah ideas and for an analysis of issues that go to the core of our search for spiritual perfection.
With so many people seeing it, discussing it, and analyzing every last nuance in it, it's relevant to ask the question that serves as the punchline for the old Jewish joke when the little boy ecstatically tells his immigrant father, “The Yankees won,” and the old man with bewildered expression responds, “But tell me, is it good for the Jews?”
For religious viewers there are many subtle messages in the film that beg for a theological response, be it pro or con. Not surprisingly, the spiritual overtones of Avatar were of interest in Vatican City, where the film was reviewed by Gaetano Vallini, a cultural critic for L’Osservatore Romano, the daily newspaper of the Holy See.
In his quite negative review, considered so important that it was reprinted in Catholic journals and newspapers round the world, Mr. Vallini wrote that for all of the “stupefying, enchanting technology” in the film, it “gets bogged down by a spiritualism linked to the worship of nature.” Its implied heresy overrides any other reasons to warrant approval for viewing.
Of course I can't speak for everyone (two Jews, three opinions), but this rabbi thinks it's a film you won't want to miss, precisely because of its myriad positive Jewish references and insights.
If Cameron never went to Hebrew school he surely had to discuss his work with a rabbi.
Watching it I had the feeling that if Cameron never went to Hebrew school he surely had to discuss his work with a rabbi. The connections with Torah, Midrash, and Hebrew words are just too frequent and striking to be accidental. And if anyone thinks I and the many others who have spotted the biblical allusions and the Jewish associations are reading too much into the story, seeing more than what’s there, it shouldn’t escape us that as one of those rare films meant to be watched ideally in 3-D, it literally begs to be viewed in every dimension, with keener vision and deeper understanding.
In the theater we have to put on glasses to better grasp the producer’s message. That is a perfect metaphor for our need to come prepared to “see” with what is often called “our third eye” – not just with the sight of our eyes but the insight of our minds.
It is a thrilling intellectual experience to note the little clues to Cameron’s intentions scattered throughout the movie.
The Na'vi
The name of the heroic people who live in the Garden-of-Eden-like planet of Pandora is Na'vi. I’ve had people tell me this couldn’t have anything to do with the Hebrew word navi that means prophet. After all there is no suggestion that these primitives were able to predict the future. But the truth is -- and it seems Cameron knew this -- the root word navi really means seer, someone with the capacity to see more than others. And that is exactly the point of the story.
With all of the technological prowess of the earthly invaders, the humans who came to despoil this new-found planet simply could not see what the far simpler and “less civilized” inhabitants recognized so clearly. The Na'vis worshipped not themselves or their achievements but a higher supreme power. And could it be mere coincidence that the name of the God they revered, eywa, is but the re-arranged letters of the Tetragrammaton, the holy four-letter name for the Almighty that Jews do not even dare to pronounce as written?
Man vs. God
The hubris of man who confuses technocracy with wisdom is a theme that continues to haunt Cameron, just as it was the pivotal premise for Titanic. “This is the largest ship ever built. It is a testament to modern man's genius. It is indestructible. We have finally and fully conquered nature. We are the masters of the universe.” That's what the builders of the Titanic repeatedly boasted before the luxury liner’s maiden voyage. But the iceberg was stronger. God's creation bested man's. Human arrogance was tragically humbled.
It was man the technocrat, in the age of the first industrial revolution of history, who proclaimed God as no longer relevant.
Titanic was a contemporary retelling of a powerful biblical story. Its theme goes back to the book of Genesis and the rebellion against God by the builders of the ancient Tower of Babel. Mankind had just learned how to build bricks, how to erect structures strong enough to withstand forces of nature. With the arrogance of man's first demonstration of his ability not to be totally subservient to the whims of his environment, he fooled himself into believing that he was nothing less than godlike. That was the generation that sought to build a skyscraper so tall that they would reach up and “pull God from his throne.” It was man the technocrat, in the age of the first industrial revolution of history, who proclaimed God as no longer relevant; the genius of human creators was deemed sufficient for ruling the world.
One of the biblical commentators of the 17th century even suggests that the builders of the Tower of Babel were smart enough to build a spaceship that could soar into the heavens, and in that way literally pull God off the seat of his power. That is almost precisely paralleled by what happened when the first cosmonaut, Yuri Gagarin, returned from his orbit of the earth and mockingly said, “There is no God. I was in the heavens and I did not see him.” Human arrogance rooted in scientific achievement led to the mistaken assumption that the power of man exceeds that of the Almighty.
Earth's Caretakers
With Avatar, Cameron takes this selfsame message one step further. Man's ego, man's greed, man's indifference to the purity of nature and its creator is a threat not only to earth but to all of the planets that surround us.
In an interview with Agence France-Presse, Cameron explained that he saw his movie as a metaphor. “We’re here, we’re big, we’ve got the guns, we’ve got the technology, we’ve got the brains, we therefore are entitled to every thing on this planet and beyond. That’s not how it works and we’re going to find out the hard way if we don’t wise up and start seeking a life that’s in balance with the natural cycles of life on earth.”
That's a message so crucial to our survival that the Torah repeats it in countless ways. Every seventh year the land is to remain fallow to remind us that we are merely its guests, not its owners. Every 50th year is the Jubilee when every Jew is to spend his time not in work but in study, to reflect upon our spiritual responsibility to ourselves, to our families, and to the world. If we are forced into waging war against our enemies, we are commanded not to cut down the trees of a city. (Deuteronomy 20:19)
The utter rapacity of the human alien invaders in Avatar is forcefully illustrated by the cruel disregard of the magnificent natural setting of Pandora. And yes, they even destroy “the holy tree” worshiped by the Na'vi. A planet like the Garden of Eden with a holy tree -- what a remarkable reminder of the Tree of Knowledge in Genesis which is off-limits to man to teach that God's knowledge is superior to ours.
More Connections
The Na'vi in Pandora have a mountain that “hangs over their heads.” The only parallel I can think of is the famous midrash that tells us when the Jews stood at Sinai and made their commitment to abide by God's laws, the mountain was lifted over their heads to tell them that the consequence of disobedience would be their destruction.
The Na'vi in Pandora even have a mountain that “hangs over their heads.”
The human aliens in Avatar are mighty, with awesome weapons of warfare. The Na'vi defend themselves with primitive bows and arrows. And yet they succeed. And that too is a biblical message: “Not with might and not with strength, but with my spirit says the Lord” (Zechariah, 4:6).
The savior of the Na'vi and the film's hero is, remarkably enough, a man with a physical disability. In the Bible it was Moses, “heavy of speech and heavy of tongue,” who was sent as deliverer. In spite of his impairment, he got across the message. In the movie it is a Marine who cannot walk but who nonetheless leads the Na'vi to successfully defend their way of life and to walk in the way of their ancestors.
Yes, the Na'vi religion with its worship of nature is a little too close to the pantheism of Spinoza to make Jews feel comfortable. Yes, the Na'vis are still pagans, and like the church I freely acknowledge there are ideas in Avatar that are not in accord with our own belief system. But at long last I am grateful for a movie that can serve as a powerful springboard for valuable discussion, for a deeper clarification of Torah ideas and for an analysis of issues that go to the core of our search for spiritual perfection.
Some BFO's (Blinding Flashes of the Obvious)for Small Business
from anthill
We live in a world with a million possible distractions, pressures, emergencies and interruptions. How can we possibly stay sane and focused on our goals?
There are always going to be several things constantly competing for your time – marketing campaigns to design, team members to manage, customers to respond to, business opportunities to explore, issues to follow up, personal commitments, etc. However, whenever you try to work on too many things at the same time, inevitably none of them ever get done – or done well.
To assist you in staying on track and keeping things simple, I’ve developed the following list of five simple techniques/questions to keep things in perspective. When in doubt, check this list for guidance.
1.Has anyone died?
If not, relax and calm down. As long as no one has died, it’s really not that serious and there is a solution to every challenge you face.
2.Am I trying to eat an elephant in one sitting?
Breaking things into bite-sized chunks makes the world of difference. Having broad, high-level goals is good, but having an actionable plan is essential. A detailed, step-by-step plan can help you identify how you can get from where you are to where you want to be. Remember, a journey of 1,000 miles begins with one step.
3.Am I in a bad neighbourhood?
If you are not in a good place emotionally, change your physiology immediately. That means get up and get moving – put on your favourite song or do the “dance of joy”. Whatever it takes, do it now.
4.Am I grateful for what I already have?
It is impossible to bring more of what you want into your life if you are feeling ungrateful about what you already have. It has been said that the whole is more than the sum of its parts. In many ways, gratitude is a bit like that – it’s not what you say, the mere words that count, but sum of the words and the heartfelt emotion behind them.
5.Am I focused on what I want or don’t want?
Whether we realise it or not, we are visualising things all the time – visualising either what we want or don’t want. If you are relentlessly focused on the negative outcome and are riddled by fear, that will affect your reality.
It’s very easy to get so caught up in the emotion of emergencies, disruptions and day-to-day activities that you can easily lose sight of what is most important to your success and wellbeing. These simple tips and questions will help you stay more in touch with what is most essential to your future. Most importantly, these techniques – and keeping a sense of humour – are vital to helping you stay focus on your ultimate goals.
Rhondalynn Korolak is a lawyer, chartered accountant, clinical hypnotherapist and Master of NLP and is an expert at business acceleration and the power of influence. She is the author of On The Shoulders of Giants and Financial Foreplay.
We live in a world with a million possible distractions, pressures, emergencies and interruptions. How can we possibly stay sane and focused on our goals?
There are always going to be several things constantly competing for your time – marketing campaigns to design, team members to manage, customers to respond to, business opportunities to explore, issues to follow up, personal commitments, etc. However, whenever you try to work on too many things at the same time, inevitably none of them ever get done – or done well.
To assist you in staying on track and keeping things simple, I’ve developed the following list of five simple techniques/questions to keep things in perspective. When in doubt, check this list for guidance.
1.Has anyone died?
If not, relax and calm down. As long as no one has died, it’s really not that serious and there is a solution to every challenge you face.
2.Am I trying to eat an elephant in one sitting?
Breaking things into bite-sized chunks makes the world of difference. Having broad, high-level goals is good, but having an actionable plan is essential. A detailed, step-by-step plan can help you identify how you can get from where you are to where you want to be. Remember, a journey of 1,000 miles begins with one step.
3.Am I in a bad neighbourhood?
If you are not in a good place emotionally, change your physiology immediately. That means get up and get moving – put on your favourite song or do the “dance of joy”. Whatever it takes, do it now.
4.Am I grateful for what I already have?
It is impossible to bring more of what you want into your life if you are feeling ungrateful about what you already have. It has been said that the whole is more than the sum of its parts. In many ways, gratitude is a bit like that – it’s not what you say, the mere words that count, but sum of the words and the heartfelt emotion behind them.
5.Am I focused on what I want or don’t want?
Whether we realise it or not, we are visualising things all the time – visualising either what we want or don’t want. If you are relentlessly focused on the negative outcome and are riddled by fear, that will affect your reality.
It’s very easy to get so caught up in the emotion of emergencies, disruptions and day-to-day activities that you can easily lose sight of what is most important to your success and wellbeing. These simple tips and questions will help you stay more in touch with what is most essential to your future. Most importantly, these techniques – and keeping a sense of humour – are vital to helping you stay focus on your ultimate goals.
Rhondalynn Korolak is a lawyer, chartered accountant, clinical hypnotherapist and Master of NLP and is an expert at business acceleration and the power of influence. She is the author of On The Shoulders of Giants and Financial Foreplay.
Sunday, January 31, 2010
Avatar - the movie
Watched Avatar last night - an awesome movie.... great story, fantastic effects... best movie of the year!
Saturday, January 30, 2010
Self Managed Superfunds
Alex Lee of Ark Total Wealth talks about what a Self Managed Superfund is, the benefits,the risks,the requirements and how to go about creating an SMSF.
A must listen for anyone interested in having an SMSF
A must listen for anyone interested in having an SMSF
Wednesday, January 27, 2010
FROM DINNER WITH PIENAAR (played by Matt Damon) JUST BEFORE THE FILM'S RELEASE:
A letter from our friend David Berman in New York. David founded "Chess for Change" in South Afirca (A programme teaching four thousand underpriviliged kids to play Chess each week) and the "author" of the "rugger bugger letters"
Dear Rugger Buggers,
Last week in NYC there was a big charity dinner arranged and Pienaar was the guest speaker. I had just seen the movie the night before at the NYC Premier so I asked Pienaar questions in addition to his awesome talk. My short review of the film follows this.
It was a truly outstanding evening and the event was a sell-out, including 20 of us rugger buggers at one big table.
Pienaar is a magnificent speaker and leader who is now cemented into history through this film. Beneficiaries of this dinner were kids in SA - mainly Pienaar's MAD charity, but also Chess for Change, the Section 501 (C)(3) charity I founded four years ago, where we are now teaching chess to over 4,000 kids a week in the Cape area primarily. Chess is proven to make kids smarter and is a very cost effective way to help children.
Pienaar is a brilliant speaker and captivated us all with his honesty, humor, laid back demeanor, and stories, but before he spoke, there was a very successful live auction with a signed rugby jersey going for a whopping $14,000, a Madiba first edition signed book going for $13,500, and a bronze limited edition statue of Pienaar and Madiba going for $22,000, just to mention a few of the items. Guests were unusually generous. Clearly New Yorkers are feeling better than they did a year ago!
Permit me to share some of what we learned:
Pienaar met with Matt Damon as Damon wanted to get a sense of the role, and "to get into my head". Similarly, Morgan Freeman met with Mandela. Damon's words to Pienaar when they first met were "Don't worry...I am much bigger on the screen!" Its quite funny because in truth Damon is not very big, most especially for a loose forward! Pienaar was however very impressed with Damon's hard work ethic and trained with him in the gym where Matt worked on his upper body, which they focused on in the movie, and did a good job. Pienaar said that as a rugby player he has brute legs but that this was a problem for Damon, and that they laughed about how he would have to wear a few pairs of socks, and take the focus away from the legs, and that he'd wear tighter shorts to make him look bigger. Pienaar spoke very complimentary of Damon saying he was a real down to earth guy, which I concur with having spent a half hour talking to Damon myself, and that they hugged each other at one point. Pienaar said "I could not ask for a better actor to play me".
Of Clint Eastwood, Pienaar said Clint doesn't play dirty harry, "he IS dirty harry":.. On the set there is "NO faffing and its all very orderly" .. People call him Mr. Eastwood...
A few other issues were discussed:
1. Accent. Very good. Pienaar tried to convince the movie guys not to use that slow stupid SA accent one often hears in movies that makes them sound stupid, but rather to speak faster like Pienaar does. So they paid closer attention to the speed too.
2. The scene in the prison cell happened exactly like that and when Pienaar saw it, it made him cry.
3. Not necessarily in movie but Pienaar saw what happened in six weeks in SA and he saw SA change and the whole vibe changed, and he really did say he was playing for 43 Million not 60,000 fans.
4. Madiba never gave him a poem.
5. The poem Pienaar used was another which he personally loved, about a man in the arena by Theodore Roosevelt... about "If he loses ..." (my baby was named Theodore a few weeks ago, so that was good to hear)
6. Madiba came to locker room before the game. It was a great moment.
7. Players in the movie resisted singing the anthem but in reality everyone learned it and no one resisted; in fact, a coach was even hired for this. The players weren't as "bad" as they were made out to be in Hollywood style
8. While Matt Damon comes across as a quiet leader, leading by example as Mandela did, Pienaar was hardly this passive. I did think this was odd in the movie, didn't you? When the team in the movie didn't want to practice the anthem and Damon walked away, Pienaar said that would never have happened as he would've just made them. He spoke to the boys a lot more before the game than Damon did and he took no kuck!
9. Hollywood tried to make it more movie-friendly - note the plane heading for the stadium in 9/11 style only to say "Good Luck Bocke" as it did in real life - but Pienaar insisted that the players do not come across as racist, and thy didn't. They came across simply as resistant to change, as did many blacks in the movie.
10. Pienaar drizzed a lot throughout the film as he felt it was very moving most especially as it captured the emotions of the day. He felt it was a great honor.
When I later asked Pienaar if he was disappointed with the Haka as I was, and the rugby in general, as well as the rugby players who didn't seem tough enough, he said he felt that an opportunity was missed in that they could have used real players BUT importantly he added that to rugby connoiseurs like ourselves, it may be disappointing, but from a normal viewer's perspective it was done very well. To this end we must concur as we have only had rave reviews, especially from my biggest critic, my mother-in-law, who now understands me and my love for rugby a little better, as well as my desire to help kids in SA through chess!
From a personal perspective, and surely for all you rugger buggers in America, it is truly wonderful for the world to see what a great game rugby is, albeit about such a bunch of thugs as is often made out... though we love the phrase that its the smart man's sport - and its also lovely to have a movie about our home country in all its glory.
I hope you found this helpful and interesting, as well as my review below.
DB
PS Enjoy the reports and comments that follow!
=============================================================
DB's SHORT MOVIE "REVIEW"
Below is my review of the film as written to Pienaar just after the film (I was at a premier - it wasn't out yet). Love to hear your thoughts as always. Enjoy, DB
=================
Francois, hope you had a good day in NYC and that your wife and boys are having a blast. Good touching base today. You can be very proud. You are immortalized. You asked I should email my thoughts to you, so here we go... film was great. The "PEE FACTOR was 9/10 for me (see definition later). They def did not make your teammates out to be racists as I had heard. Rather everyone was made out to be resistant to change - both whites and blacks. In classic Clint Eastwood style, not much talking in film. No real relationships. Superficial. Kind of weird in that way. . But great to see feelings of people changing thanks to rugby game.. Best game on planet...Not overly impressed with Morgan Freeman who I loved in Shawshank Redemption; his speeches did not move me in the slightest. Politically correct however to nominate him for an Oscar. We'll see. Matt Damon as Pienaar OK I suppose but could've heard more speeches from him to his players and guidance. Too much "leading by example" and hardly any motivational and leadership talks. All Black HAKA WAR CRY scene lousy and I had expected so much here... would've been nice for the world to see the real intensity of this .. and rugby scenes exciting but too close up and full of grunts.. as Matt Damon told me in Cape Town, it wasn't hard to do the rugby acting as the cameras did the tricks and made him look good, as he said, which is so true - but Lomu scenes are absolutely outstanding.. only real rugby looking player - a real Somoan! Should've used real rugby players as actors.... Never got a team spirit feeling either, until right at end. One feels the movie should've gone back and forward between real scenes from the game and the acting. Feel they could've done a lot more with the movie - great opportunity - but loved the music and feel good at end - sho shaloza amazing- oh My Captain - and of course being S African made it unusually good.
David
Dear Rugger Buggers,
Last week in NYC there was a big charity dinner arranged and Pienaar was the guest speaker. I had just seen the movie the night before at the NYC Premier so I asked Pienaar questions in addition to his awesome talk. My short review of the film follows this.
It was a truly outstanding evening and the event was a sell-out, including 20 of us rugger buggers at one big table.
Pienaar is a magnificent speaker and leader who is now cemented into history through this film. Beneficiaries of this dinner were kids in SA - mainly Pienaar's MAD charity, but also Chess for Change, the Section 501 (C)(3) charity I founded four years ago, where we are now teaching chess to over 4,000 kids a week in the Cape area primarily. Chess is proven to make kids smarter and is a very cost effective way to help children.
Pienaar is a brilliant speaker and captivated us all with his honesty, humor, laid back demeanor, and stories, but before he spoke, there was a very successful live auction with a signed rugby jersey going for a whopping $14,000, a Madiba first edition signed book going for $13,500, and a bronze limited edition statue of Pienaar and Madiba going for $22,000, just to mention a few of the items. Guests were unusually generous. Clearly New Yorkers are feeling better than they did a year ago!
Permit me to share some of what we learned:
Pienaar met with Matt Damon as Damon wanted to get a sense of the role, and "to get into my head". Similarly, Morgan Freeman met with Mandela. Damon's words to Pienaar when they first met were "Don't worry...I am much bigger on the screen!" Its quite funny because in truth Damon is not very big, most especially for a loose forward! Pienaar was however very impressed with Damon's hard work ethic and trained with him in the gym where Matt worked on his upper body, which they focused on in the movie, and did a good job. Pienaar said that as a rugby player he has brute legs but that this was a problem for Damon, and that they laughed about how he would have to wear a few pairs of socks, and take the focus away from the legs, and that he'd wear tighter shorts to make him look bigger. Pienaar spoke very complimentary of Damon saying he was a real down to earth guy, which I concur with having spent a half hour talking to Damon myself, and that they hugged each other at one point. Pienaar said "I could not ask for a better actor to play me".
Of Clint Eastwood, Pienaar said Clint doesn't play dirty harry, "he IS dirty harry":.. On the set there is "NO faffing and its all very orderly" .. People call him Mr. Eastwood...
A few other issues were discussed:
1. Accent. Very good. Pienaar tried to convince the movie guys not to use that slow stupid SA accent one often hears in movies that makes them sound stupid, but rather to speak faster like Pienaar does. So they paid closer attention to the speed too.
2. The scene in the prison cell happened exactly like that and when Pienaar saw it, it made him cry.
3. Not necessarily in movie but Pienaar saw what happened in six weeks in SA and he saw SA change and the whole vibe changed, and he really did say he was playing for 43 Million not 60,000 fans.
4. Madiba never gave him a poem.
5. The poem Pienaar used was another which he personally loved, about a man in the arena by Theodore Roosevelt... about "If he loses ..." (my baby was named Theodore a few weeks ago, so that was good to hear)
6. Madiba came to locker room before the game. It was a great moment.
7. Players in the movie resisted singing the anthem but in reality everyone learned it and no one resisted; in fact, a coach was even hired for this. The players weren't as "bad" as they were made out to be in Hollywood style
8. While Matt Damon comes across as a quiet leader, leading by example as Mandela did, Pienaar was hardly this passive. I did think this was odd in the movie, didn't you? When the team in the movie didn't want to practice the anthem and Damon walked away, Pienaar said that would never have happened as he would've just made them. He spoke to the boys a lot more before the game than Damon did and he took no kuck!
9. Hollywood tried to make it more movie-friendly - note the plane heading for the stadium in 9/11 style only to say "Good Luck Bocke" as it did in real life - but Pienaar insisted that the players do not come across as racist, and thy didn't. They came across simply as resistant to change, as did many blacks in the movie.
10. Pienaar drizzed a lot throughout the film as he felt it was very moving most especially as it captured the emotions of the day. He felt it was a great honor.
When I later asked Pienaar if he was disappointed with the Haka as I was, and the rugby in general, as well as the rugby players who didn't seem tough enough, he said he felt that an opportunity was missed in that they could have used real players BUT importantly he added that to rugby connoiseurs like ourselves, it may be disappointing, but from a normal viewer's perspective it was done very well. To this end we must concur as we have only had rave reviews, especially from my biggest critic, my mother-in-law, who now understands me and my love for rugby a little better, as well as my desire to help kids in SA through chess!
From a personal perspective, and surely for all you rugger buggers in America, it is truly wonderful for the world to see what a great game rugby is, albeit about such a bunch of thugs as is often made out... though we love the phrase that its the smart man's sport - and its also lovely to have a movie about our home country in all its glory.
I hope you found this helpful and interesting, as well as my review below.
DB
PS Enjoy the reports and comments that follow!
=============================================================
DB's SHORT MOVIE "REVIEW"
Below is my review of the film as written to Pienaar just after the film (I was at a premier - it wasn't out yet). Love to hear your thoughts as always. Enjoy, DB
=================
Francois, hope you had a good day in NYC and that your wife and boys are having a blast. Good touching base today. You can be very proud. You are immortalized. You asked I should email my thoughts to you, so here we go... film was great. The "PEE FACTOR was 9/10 for me (see definition later). They def did not make your teammates out to be racists as I had heard. Rather everyone was made out to be resistant to change - both whites and blacks. In classic Clint Eastwood style, not much talking in film. No real relationships. Superficial. Kind of weird in that way. . But great to see feelings of people changing thanks to rugby game.. Best game on planet...Not overly impressed with Morgan Freeman who I loved in Shawshank Redemption; his speeches did not move me in the slightest. Politically correct however to nominate him for an Oscar. We'll see. Matt Damon as Pienaar OK I suppose but could've heard more speeches from him to his players and guidance. Too much "leading by example" and hardly any motivational and leadership talks. All Black HAKA WAR CRY scene lousy and I had expected so much here... would've been nice for the world to see the real intensity of this .. and rugby scenes exciting but too close up and full of grunts.. as Matt Damon told me in Cape Town, it wasn't hard to do the rugby acting as the cameras did the tricks and made him look good, as he said, which is so true - but Lomu scenes are absolutely outstanding.. only real rugby looking player - a real Somoan! Should've used real rugby players as actors.... Never got a team spirit feeling either, until right at end. One feels the movie should've gone back and forward between real scenes from the game and the acting. Feel they could've done a lot more with the movie - great opportunity - but loved the music and feel good at end - sho shaloza amazing- oh My Captain - and of course being S African made it unusually good.
David
Tuesday, January 26, 2010
Friday, January 22, 2010
Property and Self Managed Superfunds
A fantastic explanation by Alex Lee of Ark Total Wealth on Property and SMSFs with the use of Warrants.
Ways to reduce your mortgage
1. compare the interest rate to other lenders' rates and fees
2. contribute extra to the loan by paying fortnightly instead of monthly, or making the loan a partial offset.
3. repay the mortgage as if its interest rate are two percentage points higher. This encourages a good savings habit and prepares for likely rate increases
4. List expenses and work out where expenses can be cut so more can be contributed to the mortgage.
For borrowers, especially those with multiple mortgages, it's important to give your borrowings a health check and see if there are savings to be made and if you can reduce the life of your loan. or if you're struggling financially, refinancing the loan and extending the term of the loan may just give you the relief you need."
House Prices set to rise
Australian Property News
Posted on Friday, January 22 2010 at 6:00 PM
Australians expect house prices to rise over the next 12 months, according to January's Westpac-Melbourne Institute Consumer Sentiment Survey.
Of the 84 per cent of respondents who predicted this rise, 21 per cent expected gains above 10 per cent.
Across all respondents, the average expected price rise was 5.4 per cent over the next year, 1.5 per cent higher than the average expected rise in October's survey.
Across the states, Victorian respondents predicted the highest price rises, of which 87 per cent expected house prices to rise over 2010, and 29 per cent of these respondents expected gains of above 10 per cent.
Of the age groups represented in the survey, 18 to 24-year-olds were the most optimistic and expected the greatest increase, followed by the investor and first homebuyer age groups.
The only sub-group to predict a decline in house prices were the respondents earning $71,000 to $90,000 per annum.
The survey also reported a decline in positive responses to the question: "Is now a good time to buy a dwelling?" which suggested that affordability had become an increasing issue for buyers.
Wednesday, January 20, 2010
A Laundry List for the Entrepeneur - A Whitepaper
A Whitepaper by Ivan Kaye ikaye@bsi.com.au
1. Foreword
BSI – Ivan’s Entrepeneurial Journey
Will it succeed??
BSI began as a consulting company, started - with 1000 dollars and one client-in 1989. Before we knew it, we had a real consulting business.
Once we had clients and revenue coming in, we realized that we had a real business that we could grow. We picked a business strategy, thought about what we were going to do for our client’s long term, what kind of company we wanted to have, both culturally and functionally and gave it a go!!
The business has always developed with an exit in mind…..
The Unique Selling Proposition is to retain brightest and best. Have living values and let them have the freedom to pursue their dreams. Give the “players” latitude with boundaries. Let the workplace be a place that they can achieve and enjoy.
BSI is a global model. By 2015 our business will be +$100m and will be approached by a larger company or get listed.
2. The importance of a Mission Statement:
Be prepared: have a clear vision of your company and its goals
“it must become the organization’s governing ‘constitution,’ the standard by which strategy, systems, structure, style, and skills are developed and judged” , [1]
The principles of creating and implementing a Mission Statement needs to encompass the following
■Identify the organization’s fundamental reason to exist
■Primary, long-term goals crystallized
■Core principles and values – solid corporate ethics [2]
■Key needs of primary stakeholders
■It inspire and motivate both management and employees
■KISS – keep it simple stupid
■Concentrate on running the business. The rest will follow
A Goal is a Dream With a Deadline
3. Be a great leader
■Rule #1 – there are no rules
■Have a vision and articulate it –. Become a giant by standing on the shoulders of giants. You can be a midget! Get other people to buy into and join you in achieving your vision
■Be adaptive as situations change or don’t work out.
■Be decisive and implement decisions quickly.
■Have a mentor that gives you the energy, strength, and confidence you need when struggling with an issue, or when things weren’t working the way you wanted them . It is gr8 having somebody look out for me-and all they want in return is that I succeed!
4. Be able to sell and network.
■You need to constantly sell. You have to sell to customers, employees, shareholders; you have to sell ideas; you have to sell everything.
■Listen and be responsive to customers, suppliers, employees, and investors.
5. Passion And Drive
■You aint got passion – get a job!!
■Whatever can go wrong will go wrong
■Believe in yourself.
■Believe and do
■Without this constant focus and unwavering belief, the plight of the company will probably be less then ideal.
■Be willing to work seven days a week for the company if necessary. I do it, and I expect my people to as well.
■Be there . Be involved with the business 365 days a year. Even when I travel I stay in touch with what’s going on. You have to be willing to sacrifice time whenever necessary.
■Most entrepreneurial endeavor can cause huge personal and family stress. You must at least acknowledge that these stresses exist and find balance
■Hands on. Know every aspect of the business , from manufacturing to selling to collecting money.
6. Be honorable.
■You can’t fool people all the time, so don’t try. When we had rough times and payroll money came up short, I was always last on the list—everyone else in the company got paid before I did. A Good Hire is Hard to Find
■Be involved in all levels of the company’s operations—the more you know about how the people above and below you do their jobs, the better off you’ll be.
■Take time out to take your receptionist/secretary to lunch… they will let you know what is happening in your business.
7. Develop detailed plans and goals and go for it
■keep reviewing and updating. They are not static.
■Continually measure against your goals
■reward yourself. Take a day off for golf or take a holiday.
8. Focus on niche markets.
9. Cash and Finance
■Maintain CFN—cash flow now.
■Minimize layers of management.
■Maximize profits by keeping costs low and productivity high.
■Learn the numbers: you don’t need an MBA but you should take some courses to be able read balance sheets and income statements.
■Be a miser: spend your hard earned cash only on the necessities
■every decision you make should be guided by sound business instincts.
10. Team up with large companies that have similar objectives, but do not compete with you but are reaching the same people
■For example Lucent continually looks for innovative companies that can use their distribution to help commercialise
■A client had a small innovative system in storage software, and teamed up with Microsoft as it assisted there sql products – they were able to take product to market and now sold for many millions.
■Another had a CRM that used INTEL worldwide to get to market
■Small web developer aligning with service company to increase the service to their clients
■Financial Services Company aligning with Accounting Firms…. Using the name of the large accounting forms providing a niche service.
■If you have a fire in your soul, it will show through. Bigger fish will see themselves in you and want to work with you
11. Avoid FTI (failure to implement)
■Implementation is king
■Have courage to take the step of action: leaps of faith are a necessary action.
12. Getting Capital – where are you in the process
■From the perspective of a small business owner seeking capital, the “pass the hat” to relatives and friends scenario is usually the first source of financing.
■Then the growing company will seek a second round of financing through a professional source.
■Finally, the third or fourth round of financing replaces the founders of the company, usually creative and talented in their own right, are replaced by professional managers installed by the investors. Again, the driven entrepreneur may not be the best management solution for the now established business. This is not always the case at all, but management replacement does happen in the real world. The financing process is long and difficult, but necessary.
13. Aquisition Decisions
■Knowledge is key when it comes to buying other businesses—the more you know, the more money you stand to gain.
■Make sure it fits with your existing business and strategy
■Make sure it adds value vs sucks value
■Never get involved with a business that you and your associates are not familiar with. When in doubt, leave it out.
■Only enter into negotiations when you can walk away.
■Don’t think you can ever protect your idea from someone who wants it. Charge forward. If they think you will be the first to cross the finish line, they’ll throw in with you.
■The seeds of mistrust are sown early. Don’t skew the benefits of a relationship too much in anyone’s favor. And make sure that each other’s goals and objectives are well defined and achievable.
■Leave something for the next guy
14. Workplace
■Establish a workplace environment that fosters innovation.
■The entrepreneur must learn to be a manager of people as well. This is a very fine line and often goes completely unrecognized. Sometimes the entrepreneur is not a manager type and never will be. They end up burning through employees because they are long ideas but short on management skills.
■Entrepreneur does not translate well into the task of a manager.
■Understand the value in having a talented set of people around you-an exceptional team is absolutely key. If you have people who are not first-class, building a real, meaningful, successful company is virtually impossible.
15. Growth is key but dangerous
■Leverage. What would happen if I added twice as much of x or stirred y for twice as long? Factor 4
■Growth is good but be prepared for the financial ramifications.
■When business is exploding you must act most cautiously.
■Rapid growth costs money, increased staffing, working capital, infrastructure and technology to meet additional demand is expensive.
■You must consider your balance sheet and sources of funds before quickly burning money on information technology and human resources.
■Do you have a sustainable pipeline of business to maintain cash flow?
■Can you find a cash infusion?
■If you aren’t growing and you have adequately consolidated, you are stagnating…. Eat or be eaten
16. Point of Difference
■If you don’t have a unique POD you probably shouldn’t be dabbling in that market
■Ideally – be indispensable to your clients
■The importance of uniqueness is critical to an investor. The world would still spin without most of the products we see. And no one is really in pain without them. So what makes yours special? It’s a tough question. Be ready to answer it.
■Know your market, business and industry.
■Marketing is key: when you have the best technology or systems, make sure your customer knows it.
■Every entrepreneur must have a feel for what makes a desirable product. You must seriously consider the demand for the product or idea that you seek to market.
■Accessibility and communication – Immediate and quality response to client inquiries. Service service service . Not just band aids.
■Know your customers: they are the key to your survival-listen to them.
■Know the competition
■Try to concentrate on:
■Offering unique products that public truly wants
■Adding a personalized touch that makes the customer feel special, (i.e. monogram)
■Providing value-the coveted more bang for the buck
■Ensuring prompt delivery-no one likes to be kept waiting.
■Focus on the little things
17. Innovation
■As long as you have new people and new ideas, something new will occur—a different invention, a different method of distribution.
■Innovation is at the heart of competitiveness – the economic driver – needs a fertile environment. Government, Industry, Universities,Investors and Entrepeneurs are all actors on the stage, and all play a vital part in the ecosystem.
■Innovation is at the heart of competitiveness – the economic driver – needs a fertile environment. Government, Industry, Universities,Investors and Entrepeneurs are all actors on the stage, and all play a vital part in the ecosystem.
18. Corporate Database
■My most valuable asset is my customer database. In any business, the customer list is crucial to the company’s prosperity.
■Excellent customer records must be a priority.
■Demographic information like address and buying patterns can help you target clients and their needs.
■Lillian said of his direct marketing business:- “In 1960, I had 125,000 names and did proportional business. Today, the corporation has in excess of 18 million names and our sales reflect the exponential growth in our name acquisition. You must look for new ideas in building clientele as well as developing great products” [3]
19. Image and Perception
■The best way to deal with the big boys is act like one. Talk the talk and walk the walk Do what the big boys do and be recognized for it.
■Be at Clubs, Seminars and Events….
■If people perceive you as a leader, performer, and creator, then that is reality. PERCEPTION IS REALITY
■Be in customers’ sights everywhere they turn. Go on constant sales calls, advertise, attend trade shows, and get coverage in the trade press.
■Become so good that you shut out your competition.
■Another good rule is to be first.
■Dominate the niche with the highest quality product possible. When you begin to show success competitors either think you already own the market, or it’s too small for them to bother.
■Know what cross-sells. If you can do a joint promotion with a much larger, non-competitive brand, some credibility will rub off on you.
20. Developing your brand
■A strong company must produce more than good products or services—a good name is equally important, and this you must work for. It’s not enough simply to be the best; you have to be perceived as being the best as well. The payoff? Wait until you try to raise money. What investor doesn’t want to have a stake in the best?
■Have confidence in your product and your company’s abilities. This confidence should manifest itself in all aspects of your business: in conversations with suppliers, skirmishes with competitors, and interviews with the industry press.
■Building a reputation is not a passive process. Work to establish an image and mold it into the shape you want. Then don’t stop polishing it .
■Be better than your competition and be prepared to prove it. When you have all the ammunition behind you, it’s easy to ask for a premium price and be reasonably assured you can get it.
■If you have the reputation and the product, a strong sales force , obviously, completes the picture.
■Perception is crucial . Often times in marketing, a company’s appearance is as important than function or value. Add the best packaging and sizzle you can afford without skimping. These are great places to appear larger than you are- and reduce the chance of someone jumping in because you appear strong. So, not only must you sell customers on your product, you must also sell us.
■Look professional. The step up you get from having a well designed, well printed business card, brochure, stationery, web site, and collateral material is a real boost. People want to feel that you will be in business for a while, and looking professional helps them along.
21. Worthy Offices are Welcome Sites
A well-conceived, uncongested office will give your company the edge. Be a winner in this category, and it will carry on into others.
■Banks and investors don’t go on sales calls with you. Rather, they observe what they can observe—i.e., your office and workplace.
■Impressing your customers is as important as impressing your bank. If you don’t deliver, your competition will.
22. Sound Mind and Sound Business
■the key to running a business is thinking every detail through.
■Once you understand the marketplace, you can trust your gut reaction. If someone calls you with a business plan and you possess the basic knowledge, then you can go after it.
■Before you do, first write down the complete sequence of what it will take to get the product to the market. Then arrange the sequence in a logical order.
■Next, weigh the plan to see how much of it you can enact yourself. If you already have most of the talent yourself, then you can tackle the plan yourself without much cash. If you have to buy the talent, the plan is still possible but will require more cash. I had the talent and started with little cash. It worked.
23. Strong Business Plan
■A quality business plan is essential. It needs to be focused and well thought-out. A business plan will only get you in the door. A business plan is what investors and financiers have to judge you on. How you lay it out counts almost as much as what is in it. People look at both. Also, listen to investors’ concerns when you shop the plan around. You can always go back and improve the business plan.
■The executive summary, obviously, is most crucial in that it answers in a short space. The who, what, when, how, and how much?
■Your business plan must demonstrate that you’re organized in your thinking. There are some basic things in a business plan,
■Like clearly defining the business concept,
■The economic model- how you’re going to make money in this business.
■The market you’re addressing,
■The product and service you’re providing for that market,
■Who you’re competing with,
■Who the management team is, what their skills are, and why they’re ideally suited for this business;
■What they’re providing to the customer that has value, that somebody’s actually going to pay for. This needs to come out in several of the sections-in the market section, the product section, the competition section (because it shows how you differentiate yourself).
■Where the revenue is going to come from. It’s really easy to list different revenue models that apply to your business potentially. It’s a lot harder to say here’s how we’re going to make money for the first year. And then here’s how we’re going to build on it and build on it and build on it.
■And really, the basic quality-attention to detail-really make a business plan stand out. I’ve read so many plans that were just poorly written-grammatical errors, poor formatting, missing big chunks of information, not proofread.
■A business plan is a sales document and I’m going to draw my impression of people and their capabilities from how much effort and care they put into writing their plan.
■Once a plan gets above the good threshold, I don’t have a clear understanding of whether or not the concept is great and the business is great, until I spend time with the entrepreneur and until I try to really understand the products and talking to potential or existing customers.
■The qualities of the people are fundamental in determining whether we will invest or not.
■I also have to think hard about the revenue model and make sure that the business has appropriate economic parameters.
■The actual numbers in a business plan are less important than the structure of the cost and expense model and the revenue model. It has to fit with the relevant KPI’s. I’m not worried about whether it’s a 50 million dollar company in year five or a 10 million dollar company in year five.
■But if it’s a 50 million dollar software product company in year five and it’s making $700,000 per employee, then their model’s screwed because there are very few software companies that have more than $200,000 a year in revenue per employee. In that way I try to see if it holds together when I look at it from thirty thousand feet.
In Summary
Entrepreneurs come in a million configurations, but some of these configurations have been proven to be more successful than others.
■When planning the launch, take advantage of all the entrepreneurial services—BSI – Business Planning , Growth Strategies, Governmentt Incentives, Investors
■NETWORK, NETWORK NETWORK
■Think of every customer as a partner and business as a mutually beneficial relationship
■Avoid being backed—or backing other people—into corners.
■Innovation is the lifeblood of entrepreneurs, but ensure the backroom and systems are strong.
■Anticipate Your Obstacles
■When starting a business, the only certainty uncertainty. Use all the resources at your disposal to prepare for it.
■Your passion won’t be felt by all - handle it
■Secure enough capital to get you through the unprofitable growth period . Entrepreneurs who are too optimistic at the outset can run out of money early on—and watch their enterprises crumble.
■Know your market
■Getting the company off the ground is only the first of many tests to come. The successful entrepreneur is always looking forward and planning ahead for what’s next. Plan each month something new to tell your investors
■Keep overhead low during the growth period . Minimal overhead is sure to impress investors down the road.
■Cash flow cash flow cash flow
■Hire people based on your actual needs, not your projected needs . A small, agile company can best respond to the ever-changing marketplace.
■You must earn your customer’s trust, and crisis situations, though harrowing at the time, are the ultimate test of your mettle. If you can perform when the chips are down, your customer will have complete confidence in you when everything is running smoothly. Always be sure your system can handle a breakdown.
--------------------------------------------------------------------------------
[1] Dr. Stephen R. Covey “Principle-Centered Leadership”
[2] Chuck DeMarest, Rocky Mountain Rescue Unit,
[3] Lillian
1. Foreword
BSI – Ivan’s Entrepeneurial Journey
Will it succeed??
BSI began as a consulting company, started - with 1000 dollars and one client-in 1989. Before we knew it, we had a real consulting business.
Once we had clients and revenue coming in, we realized that we had a real business that we could grow. We picked a business strategy, thought about what we were going to do for our client’s long term, what kind of company we wanted to have, both culturally and functionally and gave it a go!!
The business has always developed with an exit in mind…..
The Unique Selling Proposition is to retain brightest and best. Have living values and let them have the freedom to pursue their dreams. Give the “players” latitude with boundaries. Let the workplace be a place that they can achieve and enjoy.
BSI is a global model. By 2015 our business will be +$100m and will be approached by a larger company or get listed.
2. The importance of a Mission Statement:
Be prepared: have a clear vision of your company and its goals
“it must become the organization’s governing ‘constitution,’ the standard by which strategy, systems, structure, style, and skills are developed and judged” , [1]
The principles of creating and implementing a Mission Statement needs to encompass the following
■Identify the organization’s fundamental reason to exist
■Primary, long-term goals crystallized
■Core principles and values – solid corporate ethics [2]
■Key needs of primary stakeholders
■It inspire and motivate both management and employees
■KISS – keep it simple stupid
■Concentrate on running the business. The rest will follow
A Goal is a Dream With a Deadline
3. Be a great leader
■Rule #1 – there are no rules
■Have a vision and articulate it –. Become a giant by standing on the shoulders of giants. You can be a midget! Get other people to buy into and join you in achieving your vision
■Be adaptive as situations change or don’t work out.
■Be decisive and implement decisions quickly.
■Have a mentor that gives you the energy, strength, and confidence you need when struggling with an issue, or when things weren’t working the way you wanted them . It is gr8 having somebody look out for me-and all they want in return is that I succeed!
4. Be able to sell and network.
■You need to constantly sell. You have to sell to customers, employees, shareholders; you have to sell ideas; you have to sell everything.
■Listen and be responsive to customers, suppliers, employees, and investors.
5. Passion And Drive
■You aint got passion – get a job!!
■Whatever can go wrong will go wrong
■Believe in yourself.
■Believe and do
■Without this constant focus and unwavering belief, the plight of the company will probably be less then ideal.
■Be willing to work seven days a week for the company if necessary. I do it, and I expect my people to as well.
■Be there . Be involved with the business 365 days a year. Even when I travel I stay in touch with what’s going on. You have to be willing to sacrifice time whenever necessary.
■Most entrepreneurial endeavor can cause huge personal and family stress. You must at least acknowledge that these stresses exist and find balance
■Hands on. Know every aspect of the business , from manufacturing to selling to collecting money.
6. Be honorable.
■You can’t fool people all the time, so don’t try. When we had rough times and payroll money came up short, I was always last on the list—everyone else in the company got paid before I did. A Good Hire is Hard to Find
■Be involved in all levels of the company’s operations—the more you know about how the people above and below you do their jobs, the better off you’ll be.
■Take time out to take your receptionist/secretary to lunch… they will let you know what is happening in your business.
7. Develop detailed plans and goals and go for it
■keep reviewing and updating. They are not static.
■Continually measure against your goals
■reward yourself. Take a day off for golf or take a holiday.
8. Focus on niche markets.
9. Cash and Finance
■Maintain CFN—cash flow now.
■Minimize layers of management.
■Maximize profits by keeping costs low and productivity high.
■Learn the numbers: you don’t need an MBA but you should take some courses to be able read balance sheets and income statements.
■Be a miser: spend your hard earned cash only on the necessities
■every decision you make should be guided by sound business instincts.
10. Team up with large companies that have similar objectives, but do not compete with you but are reaching the same people
■For example Lucent continually looks for innovative companies that can use their distribution to help commercialise
■A client had a small innovative system in storage software, and teamed up with Microsoft as it assisted there sql products – they were able to take product to market and now sold for many millions.
■Another had a CRM that used INTEL worldwide to get to market
■Small web developer aligning with service company to increase the service to their clients
■Financial Services Company aligning with Accounting Firms…. Using the name of the large accounting forms providing a niche service.
■If you have a fire in your soul, it will show through. Bigger fish will see themselves in you and want to work with you
11. Avoid FTI (failure to implement)
■Implementation is king
■Have courage to take the step of action: leaps of faith are a necessary action.
12. Getting Capital – where are you in the process
■From the perspective of a small business owner seeking capital, the “pass the hat” to relatives and friends scenario is usually the first source of financing.
■Then the growing company will seek a second round of financing through a professional source.
■Finally, the third or fourth round of financing replaces the founders of the company, usually creative and talented in their own right, are replaced by professional managers installed by the investors. Again, the driven entrepreneur may not be the best management solution for the now established business. This is not always the case at all, but management replacement does happen in the real world. The financing process is long and difficult, but necessary.
13. Aquisition Decisions
■Knowledge is key when it comes to buying other businesses—the more you know, the more money you stand to gain.
■Make sure it fits with your existing business and strategy
■Make sure it adds value vs sucks value
■Never get involved with a business that you and your associates are not familiar with. When in doubt, leave it out.
■Only enter into negotiations when you can walk away.
■Don’t think you can ever protect your idea from someone who wants it. Charge forward. If they think you will be the first to cross the finish line, they’ll throw in with you.
■The seeds of mistrust are sown early. Don’t skew the benefits of a relationship too much in anyone’s favor. And make sure that each other’s goals and objectives are well defined and achievable.
■Leave something for the next guy
14. Workplace
■Establish a workplace environment that fosters innovation.
■The entrepreneur must learn to be a manager of people as well. This is a very fine line and often goes completely unrecognized. Sometimes the entrepreneur is not a manager type and never will be. They end up burning through employees because they are long ideas but short on management skills.
■Entrepreneur does not translate well into the task of a manager.
■Understand the value in having a talented set of people around you-an exceptional team is absolutely key. If you have people who are not first-class, building a real, meaningful, successful company is virtually impossible.
15. Growth is key but dangerous
■Leverage. What would happen if I added twice as much of x or stirred y for twice as long? Factor 4
■Growth is good but be prepared for the financial ramifications.
■When business is exploding you must act most cautiously.
■Rapid growth costs money, increased staffing, working capital, infrastructure and technology to meet additional demand is expensive.
■You must consider your balance sheet and sources of funds before quickly burning money on information technology and human resources.
■Do you have a sustainable pipeline of business to maintain cash flow?
■Can you find a cash infusion?
■If you aren’t growing and you have adequately consolidated, you are stagnating…. Eat or be eaten
16. Point of Difference
■If you don’t have a unique POD you probably shouldn’t be dabbling in that market
■Ideally – be indispensable to your clients
■The importance of uniqueness is critical to an investor. The world would still spin without most of the products we see. And no one is really in pain without them. So what makes yours special? It’s a tough question. Be ready to answer it.
■Know your market, business and industry.
■Marketing is key: when you have the best technology or systems, make sure your customer knows it.
■Every entrepreneur must have a feel for what makes a desirable product. You must seriously consider the demand for the product or idea that you seek to market.
■Accessibility and communication – Immediate and quality response to client inquiries. Service service service . Not just band aids.
■Know your customers: they are the key to your survival-listen to them.
■Know the competition
■Try to concentrate on:
■Offering unique products that public truly wants
■Adding a personalized touch that makes the customer feel special, (i.e. monogram)
■Providing value-the coveted more bang for the buck
■Ensuring prompt delivery-no one likes to be kept waiting.
■Focus on the little things
17. Innovation
■As long as you have new people and new ideas, something new will occur—a different invention, a different method of distribution.
■Innovation is at the heart of competitiveness – the economic driver – needs a fertile environment. Government, Industry, Universities,Investors and Entrepeneurs are all actors on the stage, and all play a vital part in the ecosystem.
■Innovation is at the heart of competitiveness – the economic driver – needs a fertile environment. Government, Industry, Universities,Investors and Entrepeneurs are all actors on the stage, and all play a vital part in the ecosystem.
18. Corporate Database
■My most valuable asset is my customer database. In any business, the customer list is crucial to the company’s prosperity.
■Excellent customer records must be a priority.
■Demographic information like address and buying patterns can help you target clients and their needs.
■Lillian said of his direct marketing business:- “In 1960, I had 125,000 names and did proportional business. Today, the corporation has in excess of 18 million names and our sales reflect the exponential growth in our name acquisition. You must look for new ideas in building clientele as well as developing great products” [3]
19. Image and Perception
■The best way to deal with the big boys is act like one. Talk the talk and walk the walk Do what the big boys do and be recognized for it.
■Be at Clubs, Seminars and Events….
■If people perceive you as a leader, performer, and creator, then that is reality. PERCEPTION IS REALITY
■Be in customers’ sights everywhere they turn. Go on constant sales calls, advertise, attend trade shows, and get coverage in the trade press.
■Become so good that you shut out your competition.
■Another good rule is to be first.
■Dominate the niche with the highest quality product possible. When you begin to show success competitors either think you already own the market, or it’s too small for them to bother.
■Know what cross-sells. If you can do a joint promotion with a much larger, non-competitive brand, some credibility will rub off on you.
20. Developing your brand
■A strong company must produce more than good products or services—a good name is equally important, and this you must work for. It’s not enough simply to be the best; you have to be perceived as being the best as well. The payoff? Wait until you try to raise money. What investor doesn’t want to have a stake in the best?
■Have confidence in your product and your company’s abilities. This confidence should manifest itself in all aspects of your business: in conversations with suppliers, skirmishes with competitors, and interviews with the industry press.
■Building a reputation is not a passive process. Work to establish an image and mold it into the shape you want. Then don’t stop polishing it .
■Be better than your competition and be prepared to prove it. When you have all the ammunition behind you, it’s easy to ask for a premium price and be reasonably assured you can get it.
■If you have the reputation and the product, a strong sales force , obviously, completes the picture.
■Perception is crucial . Often times in marketing, a company’s appearance is as important than function or value. Add the best packaging and sizzle you can afford without skimping. These are great places to appear larger than you are- and reduce the chance of someone jumping in because you appear strong. So, not only must you sell customers on your product, you must also sell us.
■Look professional. The step up you get from having a well designed, well printed business card, brochure, stationery, web site, and collateral material is a real boost. People want to feel that you will be in business for a while, and looking professional helps them along.
21. Worthy Offices are Welcome Sites
A well-conceived, uncongested office will give your company the edge. Be a winner in this category, and it will carry on into others.
■Banks and investors don’t go on sales calls with you. Rather, they observe what they can observe—i.e., your office and workplace.
■Impressing your customers is as important as impressing your bank. If you don’t deliver, your competition will.
22. Sound Mind and Sound Business
■the key to running a business is thinking every detail through.
■Once you understand the marketplace, you can trust your gut reaction. If someone calls you with a business plan and you possess the basic knowledge, then you can go after it.
■Before you do, first write down the complete sequence of what it will take to get the product to the market. Then arrange the sequence in a logical order.
■Next, weigh the plan to see how much of it you can enact yourself. If you already have most of the talent yourself, then you can tackle the plan yourself without much cash. If you have to buy the talent, the plan is still possible but will require more cash. I had the talent and started with little cash. It worked.
23. Strong Business Plan
■A quality business plan is essential. It needs to be focused and well thought-out. A business plan will only get you in the door. A business plan is what investors and financiers have to judge you on. How you lay it out counts almost as much as what is in it. People look at both. Also, listen to investors’ concerns when you shop the plan around. You can always go back and improve the business plan.
■The executive summary, obviously, is most crucial in that it answers in a short space. The who, what, when, how, and how much?
■Your business plan must demonstrate that you’re organized in your thinking. There are some basic things in a business plan,
■Like clearly defining the business concept,
■The economic model- how you’re going to make money in this business.
■The market you’re addressing,
■The product and service you’re providing for that market,
■Who you’re competing with,
■Who the management team is, what their skills are, and why they’re ideally suited for this business;
■What they’re providing to the customer that has value, that somebody’s actually going to pay for. This needs to come out in several of the sections-in the market section, the product section, the competition section (because it shows how you differentiate yourself).
■Where the revenue is going to come from. It’s really easy to list different revenue models that apply to your business potentially. It’s a lot harder to say here’s how we’re going to make money for the first year. And then here’s how we’re going to build on it and build on it and build on it.
■And really, the basic quality-attention to detail-really make a business plan stand out. I’ve read so many plans that were just poorly written-grammatical errors, poor formatting, missing big chunks of information, not proofread.
■A business plan is a sales document and I’m going to draw my impression of people and their capabilities from how much effort and care they put into writing their plan.
■Once a plan gets above the good threshold, I don’t have a clear understanding of whether or not the concept is great and the business is great, until I spend time with the entrepreneur and until I try to really understand the products and talking to potential or existing customers.
■The qualities of the people are fundamental in determining whether we will invest or not.
■I also have to think hard about the revenue model and make sure that the business has appropriate economic parameters.
■The actual numbers in a business plan are less important than the structure of the cost and expense model and the revenue model. It has to fit with the relevant KPI’s. I’m not worried about whether it’s a 50 million dollar company in year five or a 10 million dollar company in year five.
■But if it’s a 50 million dollar software product company in year five and it’s making $700,000 per employee, then their model’s screwed because there are very few software companies that have more than $200,000 a year in revenue per employee. In that way I try to see if it holds together when I look at it from thirty thousand feet.
In Summary
Entrepreneurs come in a million configurations, but some of these configurations have been proven to be more successful than others.
■When planning the launch, take advantage of all the entrepreneurial services—BSI – Business Planning , Growth Strategies, Governmentt Incentives, Investors
■NETWORK, NETWORK NETWORK
■Think of every customer as a partner and business as a mutually beneficial relationship
■Avoid being backed—or backing other people—into corners.
■Innovation is the lifeblood of entrepreneurs, but ensure the backroom and systems are strong.
■Anticipate Your Obstacles
■When starting a business, the only certainty uncertainty. Use all the resources at your disposal to prepare for it.
■Your passion won’t be felt by all - handle it
■Secure enough capital to get you through the unprofitable growth period . Entrepreneurs who are too optimistic at the outset can run out of money early on—and watch their enterprises crumble.
■Know your market
■Getting the company off the ground is only the first of many tests to come. The successful entrepreneur is always looking forward and planning ahead for what’s next. Plan each month something new to tell your investors
■Keep overhead low during the growth period . Minimal overhead is sure to impress investors down the road.
■Cash flow cash flow cash flow
■Hire people based on your actual needs, not your projected needs . A small, agile company can best respond to the ever-changing marketplace.
■You must earn your customer’s trust, and crisis situations, though harrowing at the time, are the ultimate test of your mettle. If you can perform when the chips are down, your customer will have complete confidence in you when everything is running smoothly. Always be sure your system can handle a breakdown.
--------------------------------------------------------------------------------
[1] Dr. Stephen R. Covey “Principle-Centered Leadership”
[2] Chuck DeMarest, Rocky Mountain Rescue Unit,
[3] Lillian
A Summary of Ivan's Laundry List for Entrepreneurs
By Ivan M. Kaye
Director BSI/ADI
Business Strategies International
Suite 1, Level 3, 51-57 Holt Street
Surry Hills NSW 2010
Ph: 02 92125505 Fax: 02 92125545
E: ikaye@bsi.com.au
Director BSI/ADI
Business Strategies International
Suite 1, Level 3, 51-57 Holt Street
Surry Hills NSW 2010
Ph: 02 92125505 Fax: 02 92125545
E: ikaye@bsi.com.au
- Entrepreneurs come in a million configurations, but some of these configurations have been proven to be more successful than others.
- When planning the launch, take advantage of all the entrepreneurial services—BSI – Business Planning , Growth Strategies, Government Incentives, Investors etc etc
- NETWORK , NETWORK NETWORK
- Think of every customer as a partner and business as a mutually beneficial relationship
- Avoid being backed—or backing other people—into corners
- Innovation is the lifeblood of entrepreneurs, but ensure the backroom and systems are strong.
- Anticipate Your Obstacles
- When starting a business, the only certainty is uncertainty. Use all the resources at your disposal to prepare for it
- Your passion won’t be felt by all…..handle it
- Secure enough capital to get you through the unprofitable growth period.
- Entrepreneurs who are too optimistic at the outset can run out of money early on—and watch their enterprises crumble.
- Know your market
- Getting the company off the ground is only the first of many tests to come. The successful entrepreneur is always looking forward and planning ahead for what’s next.
- Plan each month something new to tell your investors
- Keep overhead low during the growth period. Minimal overhead is sure to impress investors down the road.
- Cash flow cash flow cash flow
- Hire people based on your actual needs, not your projected needs. A small, agile company can best respond to the ever-changing marketplace
- You must earn your customer’s trust, and crisis situations, though harrowing at the time, are the ultimate test of your mettle. If you can perform when the chips are down, your customer will have complete confidence in you when everything is running smoothly.
- Always be sure your system can handle a breakdown
Top Ten Tips for Successfully Exporting to the USA
Article by Ivan Kaye BSI
1. Do your Research
• Investigate: Competitors in terms of Prices, Packaging, Promotion, and Point of Purchase
• Check out assistance available through Trade Start and Australian government
• Use the Export Market Development Grant (EMDG) and other assistance wisely
2. Develop Preliminary US Prices
• Americans are not good importers-Price Ex-US location
• “Delivery Duty Paid” shipping terms – landed and cleared prices
• Use a general exchange rate
• Base freight costs on small, medium and large sized shipments
• Contact US Customs Brokers to determine import requirements / duty
• Use a sharp pencil to determine COG ex factory
Note: US Customs do not require paying duty on freight
3. First US Market Visit: Investigative
• Trade Show(s)– obtain price lists
• Visit stores – buy samples
• Meet with sales agents, industry specialist and/or brokers – not buyers
• Use samples and price lists to show factory and office
4. Develop a Strategy
• How to approach the market: i.e., via distributor or direct?
• What is the product range: US buyers prefer specialists
• Who are your key customers: Focus to save resources and time
Note: Start with smaller orders and buyers for the first few shipments
5. Investigate Legal Aspects
• Product liability, labeling, patent & trademark concerns.
Note: US government websites that can help
www.ftc.gov (“for business”) outlines labeling for consumer products
www.fda.gov - US Food and Drug Administration for registration
www.sba.gov - US Small Business Administration
www.uspto.gov - US Patent and Trademark Office
6. Second US Market Visit: Meet with Targets
• Set appointments with potential sales reps, brokers, distributors, buyers
• Check on customer credit references
• Visit websites and research background on buyers and distributors
• Ensure that your company representative can quote delivery and negotiate prices
• Respond quickly to sample requests – don’t wait until you get home to organize
7. Prior to Shipping, Consult a US Customs Broker
• Double check all export documentation
• Include tariff codes on export documents
• Don’t use wholesale invoices as the commercial invoice for shipping
• Confirm the Importer of Record with the Broker
Note: For samples or shipments under 50 kilos, use Federal Express
8. If Selling Direct, Establish an Independent US Base
• US business address
• Receiving checks
• Vendor applications
9. Build Relationships
• Developing relationships with the right people in the USA.... getting somebody on board you can trust and communicate with is paramount
10. Be Persistent and Patient
• Visit market regularly (1-2 times per year)
• Starting a new business can take 3-5 years to generate a profit
• Volume business starts after the products and supplier have been tested
For more information please contact:
BSI Services Pty Ltd
Ivan Kaye
Ph: (02) 9212 5505
Email: ikaye@bsi.com.au
1. Do your Research
• Investigate: Competitors in terms of Prices, Packaging, Promotion, and Point of Purchase
• Check out assistance available through Trade Start and Australian government
• Use the Export Market Development Grant (EMDG) and other assistance wisely
2. Develop Preliminary US Prices
• Americans are not good importers-Price Ex-US location
• “Delivery Duty Paid” shipping terms – landed and cleared prices
• Use a general exchange rate
• Base freight costs on small, medium and large sized shipments
• Contact US Customs Brokers to determine import requirements / duty
• Use a sharp pencil to determine COG ex factory
Note: US Customs do not require paying duty on freight
3. First US Market Visit: Investigative
• Trade Show(s)– obtain price lists
• Visit stores – buy samples
• Meet with sales agents, industry specialist and/or brokers – not buyers
• Use samples and price lists to show factory and office
4. Develop a Strategy
• How to approach the market: i.e., via distributor or direct?
• What is the product range: US buyers prefer specialists
• Who are your key customers: Focus to save resources and time
Note: Start with smaller orders and buyers for the first few shipments
5. Investigate Legal Aspects
• Product liability, labeling, patent & trademark concerns.
Note: US government websites that can help
www.ftc.gov (“for business”) outlines labeling for consumer products
www.fda.gov - US Food and Drug Administration for registration
www.sba.gov - US Small Business Administration
www.uspto.gov - US Patent and Trademark Office
6. Second US Market Visit: Meet with Targets
• Set appointments with potential sales reps, brokers, distributors, buyers
• Check on customer credit references
• Visit websites and research background on buyers and distributors
• Ensure that your company representative can quote delivery and negotiate prices
• Respond quickly to sample requests – don’t wait until you get home to organize
7. Prior to Shipping, Consult a US Customs Broker
• Double check all export documentation
• Include tariff codes on export documents
• Don’t use wholesale invoices as the commercial invoice for shipping
• Confirm the Importer of Record with the Broker
Note: For samples or shipments under 50 kilos, use Federal Express
8. If Selling Direct, Establish an Independent US Base
• US business address
• Receiving checks
• Vendor applications
9. Build Relationships
• Developing relationships with the right people in the USA.... getting somebody on board you can trust and communicate with is paramount
10. Be Persistent and Patient
• Visit market regularly (1-2 times per year)
• Starting a new business can take 3-5 years to generate a profit
• Volume business starts after the products and supplier have been tested
For more information please contact:
BSI Services Pty Ltd
Ivan Kaye
Ph: (02) 9212 5505
Email: ikaye@bsi.com.au
Tuesday, January 19, 2010
Great Snippets from succesful entrepreneurs!! awesome !!!
There are many more - let me know if you want me to post them
http://www.viddler.com/explore/FHInterviews/videos/75/
http://www.viddler.com/explore/FHInterviews/videos/73/
http://www.viddler.com/explore/FHInterviews/videos/72/
http://www.viddler.com/explore/FHInterviews/videos/71/
http://www.viddler.com/explore/FHInterviews/videos/69/
http://www.viddler.com/explore/FHInterviews/videos/75/
http://www.viddler.com/explore/FHInterviews/videos/73/
http://www.viddler.com/explore/FHInterviews/videos/72/
http://www.viddler.com/explore/FHInterviews/videos/71/
http://www.viddler.com/explore/FHInterviews/videos/69/
How do suburbs rate in Sydney?
extracts from Stuart Fagg, ninemsn Money
SYDNEY: The 5 property hotspots in Sydney are located largely in the west and southwest of the city, although there is one within 10km of the CBD.
Granville, NSW: With a population of around ten thousand, a median house price of $347k, and a high rental occupation, the numbers make Granville seem like a great opportunity for investment. But is it really worth the money? What do you think? Click here to rate and review Granville.
Rockdale, NSW: “Distance to city and beach and airport is ideal. It has supermarkets, a shopping centre, places to eat and good public transport. I can not understand how it could be so cheap,” said resident Charlie, even though Rockdale ranks only 6.3/10 on our suburb review tool. Higher median house prices and negative growth could be bringing down Rockdale’s reputation. Do you agree?
Lidcombe, NSW: Although Lidcombe hasn’t been rated, it’s logical to assume that with a median house price of $450k for houses and it’s proximity to major roads, it’s a bargain. But how does the community hold up?
Riverwood, NSW: Though one of the most remote suburbs listed in the Sydney area, Riverwood boasts a median house price of $455K and a busy rental market. The older population – with a median age of 40 – might be a factor for many young families looking to buy. Is Riverwood really a bargain? Rate and review it now.
Waterloo, NSW: Waterloo resident “Trosa” is very enthusiastic: “Inner city suburban living - love it. Best value for money in Sydney!” Another Waterloo regular visitor has different views: “I work here and hate the noise this suburb has. Its concrete roads and high units being built is just too crowded and claustrophobic. You cannot breath. Just sit on O'dea Avenue for 10mins...you get run over by a truck and you have a headache. YUK.” Rental rates are massive – 77% – which means it might be a great place for investors. What do you think?
Waterloo, NSW: Waterloo resident “Trosa” is very enthusiastic: “Inner city suburban living - love it. Best value for money in Sydney!” Another Waterloo regular visitor has different views: “I work here and hate the noise this suburb has. Its concrete roads and high units being built is just too crowded and claustrophobic. You cannot breath. Just sit on O'dea Avenue for 10mins...you get run over by a truck and you have a headache. YUK.” Rental rates are massive – 77% – which means it might be a great place for investors. What do you think?
SYDNEY: The 5 property hotspots in Sydney are located largely in the west and southwest of the city, although there is one within 10km of the CBD.
Granville, NSW: With a population of around ten thousand, a median house price of $347k, and a high rental occupation, the numbers make Granville seem like a great opportunity for investment. But is it really worth the money? What do you think? Click here to rate and review Granville.
Rockdale, NSW: “Distance to city and beach and airport is ideal. It has supermarkets, a shopping centre, places to eat and good public transport. I can not understand how it could be so cheap,” said resident Charlie, even though Rockdale ranks only 6.3/10 on our suburb review tool. Higher median house prices and negative growth could be bringing down Rockdale’s reputation. Do you agree?
Lidcombe, NSW: Although Lidcombe hasn’t been rated, it’s logical to assume that with a median house price of $450k for houses and it’s proximity to major roads, it’s a bargain. But how does the community hold up?
Riverwood, NSW: Though one of the most remote suburbs listed in the Sydney area, Riverwood boasts a median house price of $455K and a busy rental market. The older population – with a median age of 40 – might be a factor for many young families looking to buy. Is Riverwood really a bargain? Rate and review it now.
Waterloo, NSW: Waterloo resident “Trosa” is very enthusiastic: “Inner city suburban living - love it. Best value for money in Sydney!” Another Waterloo regular visitor has different views: “I work here and hate the noise this suburb has. Its concrete roads and high units being built is just too crowded and claustrophobic. You cannot breath. Just sit on O'dea Avenue for 10mins...you get run over by a truck and you have a headache. YUK.” Rental rates are massive – 77% – which means it might be a great place for investors. What do you think?
Waterloo, NSW: Waterloo resident “Trosa” is very enthusiastic: “Inner city suburban living - love it. Best value for money in Sydney!” Another Waterloo regular visitor has different views: “I work here and hate the noise this suburb has. Its concrete roads and high units being built is just too crowded and claustrophobic. You cannot breath. Just sit on O'dea Avenue for 10mins...you get run over by a truck and you have a headache. YUK.” Rental rates are massive – 77% – which means it might be a great place for investors. What do you think?
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