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social media is also a customer service strategy

28/4/2021

 
​​Social media is an extension of your customer service, and here's why.
​

Social media platforms can connect you with individuals and allow you to communicate with them one-to-many or one-to-one. They make it easier for customers and prospects to provide feedback and ask questions via  comments and direct messages.

Social media is the evolution of Word-of-Mouth with your customers promoting your business for you. People trust recommendations from their connection,s and referrals are recognised as the easiest to convert lead type.

Finally, social media is the chosen form of communication for a MASSIVE segment of the Australian market with the average user online  2-3 in a day spending an average of 1 hour 46 minutes per day on social media*.

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If your business is not contactable and responsive on social media, your prospects will do business wit someone who is. Take your social media to the next level. Contact emanation today!

*Source: Hootesuite - The Global State of Digital 2021

6 RULES OF EMAIL ETIQUETTE

22/3/2019

 
angry email
Email has become one of the main forms of communication for many businesses and business owners. But the problem is that not everyone knows the rules when it comes to email etiquette.

Rule 1. Address your email to the right person. Use the “To” field for the person you want to take action or reply and the “CC” field for the people you want to keep in the loop but don’t need or want them to reply


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saying no to a sale is ok

20/3/2019

 
shocked manAre you saying no to me!?
Hi All, Ant here!

So this is a version of a conversation with a prospect that highlights why I never offer "discounts" on my services but will instead offer value. A few things have been taken out (including them implying I was only in it for the money) and it's a bit long but it also might resonate with some of you and help you find the courage to say no.


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don't bore your audience!

18/3/2019

 
Something we get asked a lot is:
"Why do so many businesses on Facebook just share the same sort of things over and over again?"

​This was in relation to pages where all their posts are around one particular topic or theme but it applies to many other aspects of business pages too we've noticed.



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do you have a reviews strategy?

17/3/2019

 
five star review
Like it or not, we live in a digital world where, as a small business owner, you are potentially one review away from winning or losing your next customer.

Statistics published by BrightLocal show just how important it is to have a review generation strategy with:


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are you starving your growth with this one mistake?

8/12/2018

 
From time to time we all get stuck and sometimes all it takes is the perspective of a story to push us forward. Here's one of my favourites from Matt Rawlins. It’s about an experiment carried out by scientists in South America who were studying the Arawana fish.


The Arawana eats other fish so they put it in a tank with a glass divider  down the middle and small fish on the other side.


The Arawana was hungry and saw those smaller fish and went after them like a cat on a mouse. The problem for the Arawana was it kept swimming into the glass divider and after a while gave up.


The next day the scientists removed the glass and let the fish swim wherever it wanted. The small fish were terrified but the Arawana just swam around ignoring them.


A few days later the Arawana died, but not of starvation as there was plenty of food. The fish died because its past experiences dictated its present decision. A mistake I am sure you want to avoid.
​

So my 5 tips to feed your growth are:
  1. Ask questions
  2. Find a mentor
  3. Watch videos, listen to audio and read
  4. Implement what you learn, and
  5. Never, ever give up

What do reviews mean for your business!

8/12/2018

 
Like it or not, we live in a digital world where you are potentially one review away from winning or losing your next customer.


Statistics published this week by Bright Local show just how important it is to have a review generation strategy with:
  • 86% of consumers read reviews for local businesses (including 95% of people aged 18-34)
  • Consumers read an average of 10 online reviews before feeling able to trust a local business
  • 40% of consumers only take into account reviews written within the past 2 weeks – up from 18% last year
  • 57% of consumers will only use a business if it has 4 or more stars
  • 80% of 18-34 year olds have written online reviews – compared to just 41% of consumers over 55
  • 91% of 18-34 year olds trust online reviews as much as personal recommendations
  • 89% of consumers read businesses' responses to reviews

With this in mind I ask.....Do you have a review generation strategy?  


If not, I have opened up some FREE 15 minute phone meetings between 5 pm and 7pm Mondays to Thursdays to help you. Simply CLICK HERE to book.

Shannon Daniels
Small Business Growth Specialist


Mums and Dads Foot the Bill for Jobless Kids To Start a Business

9/6/2018

 
This article is as relevant today as it was when published by Today Tonight, AFR and SMH a year ago.

While many children stay at home well into their 20s, an alarming number are also looking to their parents for financial support to start a business, simply because they can’t find a job.

Leading business consultant Shannon Daniels said while the Federal Government talked about support for tech start-ups, it was actually mums and dads who were providing loans and rent-free housing to help their children start businesses.

“Millenials are chasing flexibility at work and would prefer to start a business if they can’t find work to suit their lifestyle,” said Mr Daniels.

“In some cases we’re talking about loans of $100,000 which is eating into retirement nest eggs and putting parents at big financial risk,” he said.

​
​Five years ago people had an idea and worked on it after-hours and only left full time employment when they could provide themselves with a steady income.”

“Now people who never thought about going in to business for themselves are doing so simply because they can’t get work elsewhere or a job with flexibility.”


​​“There’s a real shift in employment with the jobless reinventing themselves as business owners either with the financial backing of parents or for older workers their partner is their financial support.”

“This is highlighted by figures from the Australia Bureau of Statistics showing in 2015 a massive increase in businesses having no employees and turning over less than $50,000 a year – a decade ago the bulk of businesses were in the $50,000 to $200,000 a year category.”

“According to ASIC there were 242,620 new company registrations nationally last year compared with 131,776 ten years prior. An increase of 84%.”

“In WA there were 20,307 new registrations in 2015 compared with 10,420 in 2005. An increase of 95%, that’s 11% above the national figure.”

“People go into business knowing how to do a particular job well but they’re clueless how to actually run a business which puts them in danger of financial ruin.”

“As many as 60 percent of businesses close their doors within four years according to the ABS.”  

“Entrepreneurs understand the need to learn about business which has led to a seminar cult that’s not a perfect fit for everyone.”

“This addictive thirst for knowledge has people on the merry go round of business seminars but instead of implementing the strategies they’ve learned they’ve moved on to the next seminar.”


​Mr Daniels has this advice for the self employed or those thinking about going down that path –

1.     Mentor : Connect with an independent mentor who is not a family member. They will be encouraging and realistic and help keep you on track of where you want to be.

2.     Milestones : Set Goals. Have big goals and small goals that you can meet in short and long timeframes. This creates focus and keeps you accountable.

3.     Financials : Understand everything about your financials. Know how much money is coming in and how much is going out. Have financial goals to work towards.

4.     Parental Financial Help: Be cautious going down this path as it can put strain on relationships. If you do ensure the parent is treated as a shareholder and you are accountable.

Run off your feet or feel like you're getting nowhere?
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Download the free guide
to making self employment work.

Thank you!

Your free guide is on its way by email.


As a Perth based Business Consultant and Mentor, Shannon Daniels is best known for helping business owners to create a lifestyle of choice where they can make memories with those that they love. You can reach Shannon through the Emanation website www.emanation.com.au

Expense vs cost of Good SOLD - what's the difference?

9/6/2018

 
Answer:
Both operating expenses and cost of goods sold (COGS) are expenditures that are incurred by running a business business. However, they measure different ways in which resources are spent. 

Operating expenses are expenses that are not directly tied to the production of goods or services. Examples of operating expenses include: rent, utilities, office supplies, marketing, payroll, and insurance costs.  A business must keep operating expenses under control without adversely affecting the businesses ability to generate revenue.

Cost of goods sold is the direct costs tied to the delivery of goods and services. COGS represents the business expenses that are directly incurred because a transaction has taken place. 
Examples of COGS include:

  • labor directly tied to production,
  • utilities of the facilities tied to production,
  • direct materials needed for production of goods and services,

When an profit and loss statement is generated, cost of goods sold and operating expenses are shown as separate line items subtracted from total revenue. If you want to know if an expense falls under COGS, ask; "Would this expense have been an expense even if no sales were generated?" 

The Impact of Increasing Price on Profits

4/6/2018

 
Lets examine the impact of increasing your prices.
You may find the benefits of a price increase far outweigh the risks of losing customers.


Lets start with a break even example:
Sales of $ 1,000,000   (-)   COGS $ 650,000   =   Gross Margin of $ 350,000
Fixed expenses of $ 200,000   +   Variable expenses $ 150,000     =   Total expenses of $ 350,000
Therefore Net Profit /Loss   =   $ 0


Using the same example we now increase prices by 10%:
Sales of $ 1,100,000   (-)   COGS $ 650,000   =   Gross Margin of $ 450,000
Fixed expenses of $ 200,000  +   Variable expenses $ 150,000    =    Total expenses of $ 350,000
Therefore Net Profit   =   $ 100,000


But how much business can we afford to lose before we are back at break even? Can you believe that a 10% price increase means you can do a third less sales and still be in the same place. Take a look at the calculation below. 
Sales of $ 733,333   (-)   COGS $ 433,333   =   Gross Margin of $ 300,000
Fixed expenses of $ 200,000   +   Variable expenses $ 300,000   =   Total expenses of $ 500,000
Therefore Net Profit /Loss   =   $ 0


In summary; if you increase your prices by 10% you can afford to lose up top 33% of your sales before you go backwards.
Need help with your pricing strategy? Make sure you talk to the business growth specialists at Emanation
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Mail: PO Box 275 North Perth 6906​
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