Business

Innovation remains one of the hottest buzzwords in the business industry and a mystery to corporate leaders. It is a big challenge to implement change that pays off. According to a recent report by Accenture, less than one in every five business owners believe it has positively impacted their operations with a relevant outcome. Targeted education and awareness are vital to getting business leaders on board.

Australian businesses that have adopted modernization report significant increases in dynamism, productivity and consequently, profitability. Innovation does not require you to reinvent the wheel. A contemporary strategy encompasses breakthrough ideas, strategic collaborations with well-established firms and a conducive work environment where everyone participates in decision making. It works best when incorporated into the business plan and corporate culture.

Chief executives are mandated with the responsibility of driving adoption through incentives and an open policy that rewards participation. This encourages frequent and inspired trials at new ways of doing things. How can you inject innovation into your small business DNA? Let us look at several tips to get you started on the journey to enhance innovation performance.

1. Communicate your ideas openly

Invite people to share thoughts freely and take steps to implement them. Encourage bold trials as opposed to perfectionism. This enables the cross-fertilization of a diverse range of ideas and proposed solutions. Avoid talking about it and doing little to implement. Inspire ongoing discussions about improvements in processes, products, and services.

2. Instill a sense of ownership

This aligns the individual interests with business goals. It inspires employees to go well and beyond the call of duty to ensure success. Give people the freedom to change processes that they feel will have a significant impact on the way they work.

3. Value feedback

Establish robust feedback mechanisms that ensure you are in touch with diverse customer requirements and values. This includes employees who constantly interact with clients as well as online engagement platforms. Customer feedback presents an excellent opportunity for a business to improve service delivery as well as the value of the product offering. Tap into your business networks and align new ideas to the company mission.

4. Follow emerging trends

Numerous industry reports demonstrate the impact of new trends. They also give insights into what the competition is doing to achieve results. For example, use technology to evaluate the social media trends of your target market group. Refine your communication channels and content accordingly.

5. Leverage technology

Technology serves the primary goal of accelerating processes while increasing flexibility and productivity. Empower your business to thrive through electronic accounting, scalable cloud-based services, customer relationship platforms as well as exploiting the mobile revolution. An improvement in business processes injects efficiency, accelerates time to market for core products and helps develop new business.

6. Improve innovation performance through collaboration

The initial steps on the value-creating drive are critical. Established and big companies have more resources and flexibility. For example, it is reported that Google allows employees up to twenty percent of their work time to develop new ideas and projects. Establish strategic collaborations with big firms that enable you to leverage their successes to transform your small business operations positively.

7. Reduce bureaucracy and unproductive processes

Unproductive systems impede innovation. Small businesses have an advantage as they employ less sophisticated systems. Faster implementation accelerates performance and drives more adoption. Save time and effort by eliminating old processes. It also inspires employees to maintain a progressive and optimistic attitude.

Conclusion

A great way to ensure sustainable business growth is to embrace and foster innovation. Andrew Charlton, a renowned economist, author and the co-founder of AlphaBeta Strategies & Economics, suggests unleashing the creativity of your people. Teach them to identify unique opportunities and build a strategy of constant reinvention to drive growth. Inspire the whole workforce and strive to align individual goals with business objectives.

Australia, Business

Reviews are part of content types you will access on the internet that are useful to buyers of various products. If you have a website that stocks products and would like to keep your audience informed about the products you offer, you need some reviews. The first step you should pursue is to understand how to write good reviews that will help you sell your products better. Authorities like Andrew Charlton provide you with a roadmap to writing convincing reviews that are laden with quality information. Here are top things you should include in your reviews to make them informational.

Frame the product for your audience

The overall point in writing reviews is to access your audience and give them clear information that would help in decision making. To come up with a helpful review, you need to question why people would consider buying the product. Products include a lot of features but instead of highlighting everything, you could choose a few that are worthy covering that are relevant to the audience. There are those that will make them tick and want to read more, so first begin with offering a comprehensive cover of these products so your audience can understand how to choose.

Also while writing your review, consider top issues that users might be having in mind. For example, there are those who want to save after buying certain products, so be sure to highlight their needs and issue points that would be helpful to them. Users who are looking for an experience would want to read a detailed breakdown of things in the product that would help them attain the feeling they are looking to achieve. Most importantly, give users information about usage of the product as some of them might be interested in learning rather than its contents.

Point out positives and downsides

It would look unfair to only provide information about the benefits of a product yet ignore its downsides. When you write a review, you need to cover both the benefits as well as downsides so the user can understand it better to choose whether to buy or not. You might imagine that hiding the downsides would help to make the review stronger, but with time readers will spot the deliberate exclusion of the cons of the product.

Get visual

There’s also something you need to understand about getting your product reviews to impress readers. And that is the fact that people will not always be willing to read. Sometimes they just want a visual expression of the product. Therefore, when writing your reviews, give a general overview with all the key features of your product on the first page then ensure the rest follows with a deeper review. Those who are not willing to go deep into the article will at least get a snapshot that shows them what is really contained in the piece before they even jump along to read further about it.

Offer a picture of the product then place information about the best places to buy. Provide standout features of the product followed with a star rating as an overview of its usefulness. There are many tools online that allow you to create the reviews and one that you can rely on is Canva, which can help you create an overview of the product within less than 5 minutes. Finally, as most experts point out, don’t forget to include an attention-grabbing title or introduction as this is the only way to get more readers to access the content for information they would like to know.

Interview

Born in Sydney, Australia, Earle Burrows is an internationally licensed, professional pilot. After completing his degree in commerce in 2011, he pursued his career as a professional pilot. He now holds multiple commercial pilot’s licenses in the Unites States and Australia, and leverages his aerial vantage point to create high quality aerial photography from the sky. Burrows specializes in fine art photography and capturing photos of commercial development.

When he’s not in the air, Burrows likes to play tennis and the guitar. Earle also believes in volunteering his time, and regularly volunteers at a popular service organization called Mission Australia.

What makes Australia the greatest country in the world?

People make countries great and Australia is great because of the people who live here. No country is perfect, and I haven’t been to most of them, but Australians are broadly a happy, fun loving bunch. The beaches are amazing, the wildlife is like none other, and the people are really incredible.

What is your favorite part of Australia?

I love the beaches. I always have and Australia has some of the most beautiful beaches in the world. Then there’s also the great barrier reef and all the aquatic attractions. The wildlife is outlandish and fascinating. It’s a truly great place to be a pilot because it’s all so breathtaking from the air.

What type of business are you in?

I am a pilot by trade, but I also work as a freelance photographer specializing in aerial photography. So, I specialize in aerial commercial photography, but I also work to take nature photographs from land as well as the sky. I’m really passionate about building my skillset as a fine art photographer.

How do you or your business affect the local economy?

We engage primarily with marketing agencies and work in commercial real estate. So, this helps people document their building projects, creates marketing material for building contractors, and aids in finding both commercial and residential tenants in the local real estate economy.

How old is your business? What year did you start?

I have been taking pictures ever since I can remember. I began studying to become a pilot when I graduated college in 2011 and have worked professionally in that capacity ever since I was licensed. Over time, I decided to combine my passions for flight with my interest in photography and took advantage of my airborne perspective to fill a niche in the Australian market.

In what ways do you or your business benefit the national economy?

Most of the impacts of my business directly affect the local economy much more than the national economy – at least for right now.

Are you (or your business) involved in any philanthropic activities?

I really enjoy giving back to the community by regularly volunteering at a non-denominational Christian community service organization, called Mission Australia, that provides family, community, employment, housing and early learning services throughout Australia.

What do you want people to know about you or your business?

We guarantee all of our work for clients. It seems like in big media houses, you pay a non-refundable deposit up front for the services and then receive the deliverables. In our case, clients only pay for licenses on finished products when they are happy with the final product.

Australia, Business

Many entrepreneurs have developed the notion that marketing is the most difficult process in building a business, but this is not the case when you understand the basic channels that you should use to reach out to the market. Businesses that invest in proper research to understand what the market requires are able to send the correct message, but this is not as easy as it sounds. You need someone who is good at predicting markets and reading the mood present.

That is why some businesses end up spending a lot in a process that bears no fruits. If you are tired of losing money with no results coming your way, here are top low-budget strategies you could embrace to help market your business.

Industry partnerships

One of the reasons you should team up with successful businesses in your industry is that you are given the pivot to rise as well. Working on your marketing alone could prove challenging especially if the players you are competing with have established themselves well. You need to team up with a company whose reputation has grown over time to ensure the market is served psychologically to believe that your association with a successful business means your products are superior as well.

Host events

There is nothing that draws the interest of the market more than when they see events linked to the name of the business. What you need in this case is to assume a creative approach that will expose the business as being concerned about the buyer more than its own needs. When you arrange for these events you should make them open so more people can access the information you are out to share firsthand. Educational events and ones that serve the needs of a community work best, so design such an event and ensure the timing is fine.

Email marketing

You might be against the idea of using email as an avenue to market your business based on the notion that the success rate is not guaranteed. In fact, this is one of the most powerful methods of marketing you could embrace and the only thing you need to have a successful campaign is to focus on offering the right content, matching topics with the interests of the audience, and most importantly prioritizing timing. Get someone to help you in the creation of templates that are mobile friendly.

Social networking

Social media has come as a perfect platform where upcoming businesses can showcase what they have to offer. All you need is to create fan pages and ensure you update interesting content often. In fact, don’t capitalize on updating content that is promotional as this is against the expectations of many fans who probably want to hear that you are giving out new offers that can help them enjoy their lives more. On this you don’t need to spend a lot to get the message to the right audience as there are many tools you could use to boost content while keeping a low budget.

Above all, get an expert like Joanne Pellew who can help you to draft a social strategy that will see the business reach more people across different regions. It is how you package your messages that will determine the success of your campaigns, and this is easy if you focus on what your target audience wants to see.

Australia, Business

Many small businesses view marketing as an overwhelming concept that can only be achieved after many years of struggles. But this should not necessarily be the case if the right techniques are applied while promoting the business. There is need to embrace marketing solutions that are aimed at ensuring a smooth-running business that is profitable. But most small businesses don’t understand where they should begin or how they can focus their effort to overcome marketing challenges. If you run a small business that is looking for focus, ease and marketing success, here are techniques you should embrace.

Establish an unmistakable and memorable brand identity

To achieve success in business, you need to put effort in the communication process. You should determine your ability to pass information powerfully with precision, and your capabilities to deliver a precise and consistent experience helps you to cultivate an image. Basically, this is branding and when pursed in the right way, it leads to the creation of a thriving business that can give you the customers and profits you need. The secret in this is to ensure your brand is strong and distinctive in the vast market.

Create meaningful connections with your target audience

The second thing you need is to focus on those likely to need the products you offer. It would be fallacious to assume everyone falls in this category and generating ad copies that target everyone would be wasting marketing resources. Simply focus your spending on a group you are certain would be interested in the products you offer. This is necessary to ensure your campaign is effective and able to drive the impact you need to drive more sales and keep your business profitable. Small businesses need this technique the most since part of the market is already won by established businesses.

Create a workable and personal marketing plan

Everything you engage in to give your product or service more visibility is what is referred to as marketing. Before the product gets more visibility, it should have desirability and be profitable. Your marketing plan should include the 4 “P”s of marketing, which are product, place, price and promotion. Up to 90 percent of small businesses don’t have business plans and this could give you a leg up on competition by creating a workable and personal marketing plan that allows you to attain your goals in business. While planning, you could consult experts like Grace Lever for guidance.

Develop compelling offerings

Emotions account to 80 percent of the reasons people buy products, so if you want to sell more or attract more buyers, it would be wise to create compelling offerings that also connect with potential buyers emotionally. Creating an emotional connection also offers a lasting effect that could see you get a permanent follower. All you need is to keep improving after winning the customer over to prevent scenarios where customers are forced to decamp once they realize what you offer is no different from what they have been getting from other sellers.

Business

The decision-making process is inherently complex and is often recognized as a skill that is largely based on deeply personal values, beliefs, and experiences. In the world of small business, many owners and executives are reluctant when it comes to changing the manner in which they arrive at critical business decisions, especially owners and executives who have already enjoyed some level of success in their professional career.

According to Darren Pawski, every professional should recognize the importance of regularly evaluating the efficacy of the decision-making process with the goal of continually refining and streamlining it in a manner that yields consistently positive outcomes. Pawski, a finance expert who has worked with owners and executives in small business settings on many occasions throughout his lengthy career, outlined some of the more common mistakes made in the decision-making process and offered some simple guidelines for creating a more effective approach.

Balance is often a principal issue in the decision-making process. As Pawski explained, many small business owners and executives will often either rely too much or too little on expert advice. There is also a tendency among these professionals to over- or under-estimate the value of the information they receive. The reason, according to countless studies on perception, is often due to subconscious influences. An awareness of these influences is necessary for achieving a balanced approach to the decision-making process.

Taking the time to thoughtfully examine a potential decision is equally critical. Pawski recommends a consistent structure that can be applied to each decision that ensures there is a thoughtful examination of the necessity of the decision, the alternatives that are available, and the full range of potential outcomes. This approach will then ensure that the best course of action is identified and confidently pursued without hesitation or even a hint of doubt.

Although it may seem counterintuitive to some, the application of such a structure to the decision-making process is actually a timesaving measure. Through a thoughtful and consistently structured process, owners and executives eliminate the potential for second-guessing and feel very little need to revisit the issue several times over. Simply visualizing the potential outcomes stemming from each decision helps to identify the full range of possibilities — including the best-case and worst-case scenarios associated with each potential decision — so that executives can pursue the best course of action while also substantially reducing the potential for courting an unnecessary risk.

 

Interview

Andrew Charlton is an economist, author, lecturer and adviser who currently serves as the director of AlphaBeta, an economic consultancy firm dedicated to developing solutions to the most critical economic issues facing the world today. Mr. Charlton founded AlphaBeta after serving as the economic adviser to Kevin Rudd, then the Prime Minister of Australia.

In his role with the Australian government, Mr. Charlton represented the country as its senior government official at the G20 Summit as well as at the United Nations Framework Convention on Climate Change in Copenhagen. Mr. Charlton, a graduate of Oxford University with a doctorate in economics, has published several books on his area of expertise, including “Ozonomics” and “Fair Trade for All.”

1. What makes Australia the greatest country in the world?

I’m proud that Australia, in spite of its smaller size relative to the rest of the world, has been able to create and maintain an economic system in which so many have been able to prosper and remain financially secure.

2. What is your favorite part of Australia?

Sydney, New South Wales. I’ve lived and worked in Sydney so long, and I consider myself quite fortunate that I am able to call Sydney home.

3. What type of business are you in?

I’m the director of AlphaBeta, which specializes in economic consulting.

4. How do you or your business affect the local economy?

We offer consulting and advisement to our clients regarding the best available solutions based on economic trends, which is obviously beneficial to both the local and national economies.

5. How old is your business? What year did you start?

AlphaBeta is a new venture that we founded in 2015.

6. In what ways do you or your business benefit the national economy?

Economic consulting yields a local and national benefit through our guidance and advisement.

7. Are you (or your business) involved in any philanthropic activities?

Yes, we are involved in several philanthropic activities, especially those focused on addressing global climate change.

8. What do you want people to know about you or your business?

We truly believe that we are capable of solving the greatest economic issues facing the world today. We also want people to understand the influence of economic conditions on the success of a business is far greater than most people realize.

Interview

Darren Pawski

In his capacity as managing director of Synergy Financial Solutions, Darren Pawski is able to ensure clients of the boutique financial services firm have access to exceptionally individualized financial planning and wealth management services. The 2012 Association of Independently Owned Financial Planners Member of the Year, Pawski brings nearly 30 years of industry experience to his position with Synergy Financial Solutions and has continued to demonstrate the importance of developing strong client relationships built on integrity and mutual respect.

1. What makes Australia the greatest country in the world?

I believe it is the overwhelming sense of individualism that makes Australia the greatest country in the world.

2. What is your favorite part of Australia?

Western Australia is my favorite part of the country, with Perth being the city in which I spend the majority of my time.

3. What type of business are you in?

I work in the finance industry with a specific focus on financial planning services.

4. How do you or your business affect the local economy?

I think that Synergy Financial Solutions is a critical component with regard to ensuring the ongoing stability of the local economy.

5. How old is your business? What year did you start?

The business was founded in 2009, which means we have been providing financial planning services to clients for seven years and counting.

6. In what ways do you or your business benefit the national economy?

In addition to serving our own clients, we also feel it is important to educate and inform the public with regard to the benefits of comprehensive financial planning. With a thoroughly informed and prepared public, the national economy should benefit from a greater degree of stability.

7. Are you (or your business) involved in any philanthropic activities?

I am involved in philanthropic activities and have long been active in philanthropy focusing on the aged-care sector in particular.

8. What do you want people to know about you or your business?

I’d like people to know we are a company that seeks to educate our clients regarding every option available to them. This focus on education ensures our clients feel informed and empowered as we work together to develop a short- and long-term financial plan based on their specific goals.

Australia, Business

The Australian business community has long been focused on fostering continued innovation through both business practices and policy measures, and the international community has certainly taken notice of the country’s commitment to continual innovation. Financial services expert Darren Pawski said a recent visit by US Vice President Joe Biden underscored not only Australia’s status as the innovation hub of the Southern Hemisphere, but also the necessity of maintaining that status well into the future.

According to Pawski, Australia’s continued status as the Southern Hemisphere’s business and innovation hub yields benefits that extend to countries all over the world. This is part of the reason why Biden expressed his desire to see Australia continue to grow in this regard, noting that Australia’s growth and innovation was in the self-interest of the United States. While the vice president noted that the support of the United States will surely contribute to the future success of Australia and its ability to continually serve as an innovative force throughout the region, he also explained the additional steps the country must take to ensure growth and innovation throughout all of Australia.

Citing the need for a highly skilled and exceptionally educated workforce, Biden encouraged Australia to continue to encourage progress whenever possible. In the view of Pawski, this continual growth and strengthened focus on innovation will only serve to broaden the positive effect Australia has already had on the international business community as well as the domestic business community. With the added support of international partners such as the United States and many others, it appears quite clear that the country is ideally positioned to continue to serve as the innovation hub of the Southern Hemisphere for many years to come.

Interview

Dymphna Boholt is a world class real estate investor. On top of that, she started investing with a cow! Read the rest of the cow story at Dymphna Boholt’s Knowledge Source and her interview answers below.

1. What makes Australia the greatest country in the world?

Australia is the country that granted me so many wonderful opportunities to thrive as an investor and to be able to share all that I have learned over the years with those who wish to achieve the kind of financial security I have been so fortunate to have achieved.

2. What is your favorite part of Australia?

New South Wales is my favorite place to visit, especially Sydney and the surrounding area.

3. What type of business are you in?

Although I continue to invest in real estate, my focus has shifted to education and mentorship.

4. How do you or your business affect the local economy?

I believe that by teaching others how to achieve success as a real estate investor, my efforts ensure that local economies enjoy the countless benefits associated with widespread prosperity.

5. How old is your business? What year did you start?

I’ve been a real estate investor since 2000. While I still invest and am still incredibly passionate about real estate investing, I feel it is more important to share my knowledge with others. This is why I have taken on a role as an author, teacher, mentor, and public speaker.

6. In what ways do you or your business benefit the national economy?

Widespread prosperity benefits everyone within that economy, and my goal is to ensure Australians continue to enjoy widespread prosperity through the real estate investment strategies I have used to achieve my own success.

7. Are you (or your business) involved in any philanthropic activities?

Philanthropy has always been — and will continue to be — exceptionally important to me and my business, and we are involved in quite a few philanthropic endeavors.

8. What do you want people to know about you or your business?

I want people to know that I am here to serve as a mentor for anyone who wishes to enjoy everything that comes along with wealth and prosperity.