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Justin’s Better Business – August 2014

Clear Vision • Aug 03, 2014

The new financial year is well and truly upon us! Do you have a list of all your Financial Year Resolutions?

NOW is the time to work on your business! This month introduces Business Value Propositions – the benefits for your business and the know how. If you have any questions or need any help with this please let me know.

Cheers,
Justin

The difference between your business and every other business is YOU. While many businesses perform the same function, the more successful ones distinguish themselves by delivering better service, producing a higher quality product or improving their clients’ quality of life. Equally important, successful businesses clearly and quickly communicate their Business Value Proposition – why their business is the best choice. And they never stop promoting the benefits their business offers.

When assessing your business, always consider this question: what can you tell your customers about your business or product that will differentiate you from the rest, and make your business the obvious choice for them?

Creating a Business Value Proposition requires ingenuity and often relies on a combination of emotional benefits as well as product features.

Think of car companies that create two vehicles with the same engine, and many of the same mechanical features, but are sold at distinct price points. While the two vehicles share the same basic features, they are marketed distinctly. The Prestige 2000 ad campaign will likely feature mountainous roads, pictures of the luxurious wood and leather interior and there will be inferences to the high life. This ad appeals to a consumer’s desire for luxury and a sense of achievement in life. The Reliable 900 campaign appeals to a consumer’s desire to get the most for his/her money, a need for safety and an acknowledgement that this choice was the right choice. Its ad campaign will likely feature a family with kids, details of the safety devices and any consumer awards.

Some Tips to Start Your Business Value Proposition

1. How are you better than your competitors? Where can you stand to improve?

2. Among the factors that make you stand apart from the competition, which are the most important to your customers/clients?

3. What part of your business cannot be easily imitated or replicated by your competition?

4. Which differences can be communicated to your customers/clients and have a meaningful impact on their purchasing decisions?

5. Can you tell your customers/clients in a concise, clear message why your business is unique and a better choice?

6. What ways will you communicate your Business Value Proposition to potential and current customers/clients (advertising, a referral campaign, media, packaging, sales force)?

Make sure you involve your customers and team members in this process. Don’t forget to ask your best customers why they choose your business and how you can continue to make the differences that keep them coming back. This will help you attract potential best customers.

It’s likely that you won’t find huge differences between you and your competitors. Your differences will be small ones that lead to a distinguished customer experience (a greeter at the front door, a 2-ring phone answering policy, a sense of fun and humour in every customer interaction).

 
Challenge
Challenge for this month – create your Business Value Proposition

Creating a Business Value Proposition requires ingenuity and often relies on a combination of emotional benefits as well as product features.
Remember a successful business clearly knows and lives up to its Business Value Proposition!

 

Embracing the Bright Side: Finding Joy in Everyday Moments

By Caroline Gillies • 07 Mar, 2024
In a world that often feels chaotic and uncertain, it's easy to get caught up in the hustle and bustle of life, forgetting to pause and appreciate the simple joys that surround us. But amidst the challenges and hardships, there is always a glimmer of light waiting to shine through the darkness. Today, let's embark on a journey to explore the uplifting and positive aspects of life, reminding ourselves of the beauty that exists in every moment. Gratitude: A Key to Happiness Gratitude is a powerful tool that can transform even the most mundane of days into something extraordinary. Take a moment each day to reflect on the things you're grateful for, whether it's the warmth of the sun on your face, the laughter of loved ones, or the beauty of nature. By shifting your focus to the blessings in your life, you'll find that joy naturally follows. Embracing Imperfection Life is messy, unpredictable, and imperfect – and that's what makes it beautiful. Instead of striving for perfection, embrace the flaws and quirks that make you unique. Celebrate your successes, no matter how small, and learn from your mistakes with grace and humility. Remember, it's okay to stumble along the way – it's all part of the journey. Finding Joy in the Little Things Happiness doesn't always come from grand gestures or monumental achievements. Often, it's the little things that bring the most joy – a kind word from a stranger, a hug from a friend, or a quiet moment spent watching the sunset. Pay attention to the small moments of beauty and wonder that pepper your day, and you'll find that happiness is never far away. Spreading Kindness and Love In a world that can sometimes feel cold and indifferent, kindness is like a ray of sunshine breaking through the clouds. Make it a priority to spread love and positivity wherever you go, whether it's through a simple act of kindness or a heartfelt compliment. By lifting others up, you'll find that you lift yourself up in the process. Cultivating Inner Peace True happiness comes from within, rooted in a sense of peace and contentment that transcends external circumstances. Take time each day to nourish your mind, body, and spirit – whether through meditation, mindfulness, or simply taking a walk in nature. Cultivate a sense of inner peace that will sustain you through life's ups and downs, allowing you to navigate challenges with grace and resilience. Embrace the Journey Life is a journey filled with twists and turns, highs and lows, but it's also a journey filled with beauty, wonder, and endless possibilities. By embracing the bright side of life, finding joy in everyday moments, and spreading love and kindness wherever we go, we can create a world that is a little brighter, a little kinder, and a little more beautiful for us all. So let's embark on this journey together, with open hearts and open minds, ready to embrace all that life has to offer.

Boosting Your Superannuation: Seven Powerful Strategies

By Caroline Gillies • 22 Feb, 2024
Boosting Your Superannuation: Seven Powerful Strategies

Changes to Company details and ASIC – How to avoid a fee

By Caroline Gillies • 19 Oct, 2023
When it comes to being a Director of a company, there are administrative requirements that must be complied with, including keeping ASIC in the loop. We all hate paying unnecessary fees, and ASIC loves to charge fees. To avoid late fees, ASIC must be told about any changes to company details, including your business or residential address, within 28 days. If your company's information changes, please let us know so we can notify ASIC on your behalf. Example: Jarryd gets a late fee Jarryd recently moved his company to a new storefront. In the rush of changing to his new principal place of business, he forgot to update his address details with ASIC. A month later, Jarryd logged into his online account to change his address to reflect the address of his new principal place of business. Because it was outside the 28 day timeframe, the company was charged a $93 late fee. If he had waited longer and lodged the change of address more than a month late, the company would have been charged a $387 late fee. To avoid fees in the future, Jarryd realises it's important to update his details as soon as they change. In summary, be like Jarryd and realise the importance of advising Clear Vision Accountancy Group of any changes. Example supplied by ASIC
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