5 productivity tips from a small business success

KathyBYBKathy Vant Foort is owner and founder of Backyard Buyers, a business that helps property owners sub-divide and develop excess land. Kathy is one of the few female Registered Building Practitioners in Victoria.

Having grown the business from concept to start-up, Kathy now manages her company from Melbourne.

Nearly ten years on, business has never been better.

Here are Kathy’s top five tips for success:

1. Know your objectives

“I have two whiteboards visible from my desk. One has long-term objectives and targets. It also has a list of big or innovative ideas.

“The other whiteboard is operational, mapping out all current and pipeline sub-divisions, key performance metrics and projects.”

Read more here.

Will your business expenses trigger a personal audit?

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Are you worried your business tax deductions will make you stand out? New techniques and ever evolving technology, may make you more obvious than you think. Photo © Andrew McIntosh CPA

Some of us went crazy with the Game of Thrones grand finale, with the show becoming the most pirated program in history. Australians were the worst offenders. Digital piracy is illegal; so too is tax evasion.

If you have cheated the tax system, it may not impact you now as a struggling entrepreneur or business owner, but perhaps years later when you are held to account for your actions. Long after the moment of greed, or seeming need, you may have a partner, child and a thriving business by then.

Do you participate in the cash or hidden economy? Read the full article here.

Social media companies dominate the ‘best places to work’ for 2014

BPTW14_largeSocial media companies are the best technology employers to work for. According to employees, Twitter, LinkedIn and Facebook are the best three technology employers for 2014. Google is ranked fifth, with Interactive Intelligence the only ‘traditional’ tech company in the top five best technology employers to work for.

Not only did social media providers dominate the technology sector, they also seized the majority of positions in the overall top five rankings.

Social media is transforming lives in more ways than we could have expected. From record initial public offerings to the birth of the Arab Spring, these companies are now setting the standard as the employers of choice.

When Glassdoor, a free online jobs and career community, revealed its 2014 Employees’ Choice Awards this month, it also provided a snapshot of the ever-growing influence of social media beyond a screen.

In 2010 Southwest Airlines led the rankings, joined by a mixture of manufacturing and business services firms. A year later, things began to change in when social media companies began wowing their employees:

  • 2011: Facebook entered the top five with a bang, as the number one employer in Employees’ Choice Awards. Facebook had bumped the much acclaimed Southwest Airlines to number two, followed by business services and manufacturing leaders Bain & Company, General Mills and Edelman;
  • 2012: Unseated by consulting behemoths Bain & Company and McKinsey & Company, Facebook ranked third and was joined by Google just scraping into the top five. With MITRE taking the fourth place, business services and consulting firms clearly ruled the day in 2012, but Google and Facebook were giving rival employers a taste of things to come;
  • 2014smBestEmployers2013: Facebook, the only social media company in the top five, reclaimed the number one ranking, amongst a diverse range of employers from business services, technology and health sectors;
  • 2014: While Bain & Company has stolen the 2014 crown, social media companies dominate the top five, filling sixty percent of the top five positions: Twitter, LinkedIn, then industrial Eastman Chemical, followed by Facebook in fifth position.

Glassdoor has aggregated millions of salaries and anonymous company reviews, surveys and other “employee generated content”. The US rankings of the 50 best places to work in 2014 is now in its sixth year and provides a unique confirmation of social media pushing the boundaries in more than just the technology industry.

The top five of the last six years is like a storybook of our change in our society: 2009 did not include a single social media company. Traditional industries dominated, with General Mills, one of the world’s leading food companies, with 100 consumer brands, topping the employee rankings.

Business services firm Bain & Company was ranked number two and is noteworthy in that it is the only employer to be consistently listed in the top five for the last six years. Bain & Company went on to claim the leader’s jersey in 2012 and again in 2014.

The lessons for 2014?  Watch this space: social media companies are innovators in more than just technology and IPOs, they are disrupting many different aspects of business and society. And their employees love it.

What is Global Entrepreneurship Week? #GEW

#GEWNovember 18 – 24 is an exciting time each year for the start-up, innovation, education, entrepreneur and broader communities of the world: it is Global Entrepreneurship Week (#GEW). And it is really “global” in every sense of the word.

The growing popularity of these events is partly due to the global connectivity of social media networks. Never before have so many buddy entrepreneurs had so much opportunity to use ‘free’ global communications tools to inspire, share and make connections, experiences and ideas. Twitter is buzzing with the hashtag #GEW, #GEW2013 and other country specific hashtags and LinkedIn provides opportunities for targeted networking: social media helps develop international relationships, introduced through #GEW, that many innovators will find as they pursue their goals.

So what is #GEN? Perhaps the best way for me, as a social media strategist, is to use social media (YouTube) and let the international organisers explain for themselves:

#GEW is here. Jump on, jump in or take that first step – it may just change your life! If nothing else, you will find following all the tweets and other social media posts and events an inspiring spectacle in its own right! So, enjoy and feel free to contact Optimize Business if you have any questions or queries. Here is the Australian GEW page link:

#GEW

Storify: the Telstra 2013 Australian Digital Summit

On Tuesday Telstra hosted the 2013 Australian Digital Summit in Melbourne, social media and the #DigitalSummit hashtag went into overdrive.

Tools, strategies, innovations and techniques are constantly evolving in the digital space.

Storify.com

If you have not seen Storify before, please take a look at what it does here and also check out our story as a resource to catch up on what you may have missed at the Digital Summit!Today we spent about an hour using “Storify” to create a record of the #socialmedia chatter that surrounded the hashtag #DigitalSummit this week.

Stranded sea turtles could help Australia transform locally discovered molecules into global medicines

How many of you had seen the articles Smart Country Sells Itself Short and Australia Blind to the Innovation Boom – Beattie published in the Sydney Morning Herald on 10th November 2012? Well, ironically, I was first made aware of these articles by three antipodean, but internationally stranded sea turtles!

The article titles themselves paint a view that is shared by many ‘international’ Australians who, having left for foreign shores at various stages of their careers, are faced with the desire of returning home; it hits a particularly raw nerve with those of us closely involved in the development and commercialisation of medicines.

The strengths of Australian science, discovery and optimisation of potential new drugs, are appreciated here at home, and also abroad. We celebrate our fair share of Nobel laureates and the discovery triumphs of brilliant scientists: Ian Frazer and his Queensland team’s cervical cancer vaccine discovery, the discovery of flu-fighting Relenza at CSIRO and Monash University; and world class research productivity from institutes like the Walter and Eliza Hall Institute of Medical Research that showcases Australia’s outstanding research focused medical fraternity.

So why is it that Australia sits 107th on the 2012 Global Innovation Index, behind Georgia, Malawi and Colombia?  As Peter Beattie highlighted, “Our basic research is world-class, our commercialisation is not”. Australia is viewed as a rich hunting ground for “early stage opportunities” for international medicine developers.  Real value capture in the life sciences space for Australia is lost when we sell our drugs too early in the development process. Rather, we should be managing risk and intelligently moving some of these early opportunities further along the development path. This requires “development and commercialisation” skills.

This process of “development and commercialisation” of a medicine, like rocket science, is extremely complex, expensive (>$1Bn), risky (<10% of drugs that eventually make it into humans reach the market), and it is definitely not an “individual” sport. It requires “teams” of dedicated, top minds tackling a problem from multiple perspectives in parallel. A typical core drug development team may have 10 or more highly qualified representatives (most with doctoral degrees, and many with multiple qualifications across disciplines) from diverse functional areas, each supported by many others. Roles include medical development, clinical pharmacology, clinical safety, toxicology, pharmaceutical science, project management, operations, commercial, intellectual property, modelling and simulation, epidemiology, regulatory affairs, health economics as well as very smart project leadership.

For a molecule to become a medicine, each of these elements must come together and be integrated successfully.  A seasoned “medicine developer” is someone who has not only deep technical knowledge, but importantly, an ability to integrate knowledge (and to ask for expert help as required) gained from substantial experience working within cross-functional development teams  solving development problems. The process of applying science in this way is not a discipline which is taught in Universities, but rather is a skill and art which is only learned by experience.

In contrast to US and Europe, this profile of a development professional is under-recognized, under-valued and under-resourced in Australia. A major reason is Australia’s lack of critical mass in this area, a fact which unfortunately drives abroad Australians seeking to pursue leading edge experiences in drug development and commercialisation. A seldom celebrated fact is many Australian’s do incredibly well in these environments. Some have established themselves internationally as leaders in their respective fields, making significant contributions to human health. In fact, the next time you open a medicine’s patient information leaflet, you should reflect that it is quite likely an Australian abroad had a hand in creating the product. Unfortunately, when after years away, such talented Australians ask themselves the question, “What opportunity could I return home too?”, the answer is generally silence.

Can we fix this? What really strikes me, is the chicken and egg problem that we have in Australia.

On one hand we bemoan the fact that we are not good at commercialising the discoveries from our brilliant scientists. I would argue, that an important driver is lack of critical mass in “development and commercialisation” experience in Australia. On the other hand, we actually have a bale (thanks Wikipedia) of sea turtles with critically relevant experience wanting to come home. China has recognised the value of its diaspora, encouraging the return home of internationally experienced scientsist: Australia should do the same.

Now is the time for Australia to be investing in our success beyond the mining boom.  I believe an important challenge for Australia, is determining how we can best access such “development and commercialisation” talent to support the existing strong discovery and innovation base our life sciences industry is reputed for.  However, retaining the talent will also require creating the right soft infrastructure for the sector. Bring our turtles home but make sure they have any environment in which they may thrive!

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Dr. Craig Rayner BPharm BPharmSc(Hons) PharmD MBA MAICD, is blogging at drcraigrayner.com and is Director of Clinical Pharmacology (previously Global Due Diligence Director) at Roche and Adjunct Associate Professor, Monash Institute of Pharmaceutical Sciences, Monash University.

Personal Note: After many years abroad, I was extremely fortunate to be able to continue a global role in an International Pharmaceutical company working from my home in Melbourne with teams based in Europe, US and China. What amazes me, is that incredibly talented Australian’s are peppered throughout the international industry.  If we could gather them all up and bring them home, I am sure we could assemble a faculty that could rival any major Pharmaceutical company.

Ever thought you would love preparing invoices? Here’s how

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Having worked with many accounting and invoicing systems over the last 20 years, Optimize Business knows a good billing solution when we see one. That is why Optimize Business uses and recommends Freshbooks. It offers the convenience of cloud accounting and an easy of use and efficiency you have to see to believe.

  • Forget about backing up your invoices: it is done in the cloud
  • Stop fussing with an email or envelope: it is delivered in the click of a button
  • Convert that estimate to an invoice and email: done in seconds

Visit our Optimize Business Bookshop for the latest books, DVD’s and resources to optimize your business performance

It is great for small business start-ups who can use it free for three or less clients and even better for bigger businesses who can streamline their invoicing process with the click of a button. And the best part? Clients pay quicker because of the paper-less email delivery and the easy of payment!

This is why Optimize Business is pleased make Freshbooks available to Australian and New Zealand business through our relationship with Freshbooks. In fact, Freshbooks can be used by any business, anywhere! From Deli to Denver, over 5 million businesses are using Freshbooks.

So why not test drive this great product? We did, and we were so impressed with the customer service, support and user experience, that we can’t help but recommend it! Try it for free:

FreshBooks

© 2012 Andrew McIntosh CPA, Optimize Business. As a Freshbooks partner, Optimize Business may receive a commission for referring satisfied customers.

Twitter for Business: link your tweets to appear on Facebook!

Get your Tweets posted on your Facebook page automatically! It is easy to set-up, go to the Twitter Help Center to learn more.

The Facebook Settings page (when you are logged in as a profile Administrator in Facebook) has a “Link to Twitter” button.  This is a good way to post onto Twitter if your primary social media tool is Facebook.

But remember the most Twitter users will see of your Facebook post is 140 characters.  This means you need to fashion your opening Facebook wording carefully to still make sense once it posts on Twitter. The link to your Facebook post in the Tweet will also decrease your available characters.

FreshBooksOptimize Business suggests doing the reverse: log into your Twitter account and then have your Tweets automatically post onto your Facebook page. This will mean that you have more control over the final text outcome that is communicated on both social media platforms. You can carefully craft your Tweet to 140 characters and this will then look and ‘feel’ better across both mediums.

You will probably find you end up doing more Facebook entries as well, because avid tweeters often end up tweeting more from their mobile devices…. so why not communicate to your Facebook crowd too!

If you want big, attention grabbing photographs or links to interesting articles, simply post direct to Facebook to ensure you do not get a thumbnail of the Twitter photograph.

© 2013 Andrew McIntosh CPA Optimize Business @Optimize_Biz

Facebook for Business: allow subscribers!

For the sake of business, don’t for get to “Allow Subscribers”!

If you are running a business page on Facebook, don’t forget to go into your Facebook Settings (found on the top right of your page) and tick the “Allow Subscribers” check box.

This means Facebook users will be able to find you on Facebook, via public search engines and connect… which is probably why your business is on Facebook, so people can find out about your business!  Your customers and the public can subscribe without becoming a “friend” also.
FreshBooks
© 2012 Andrew McIntosh CPA Optimize Business @Optimize_Biz

Cheat Sheets for Social Media Marketing Dummies

Most small / medium businesses still don’t get social media or social media marketing (SMM) . Start with the basics, as even seasoned Marketers may not understand Pinterest, Google+ or Twitter. SMM for Dummies Cheat Sheets are a great starting point for your clients and stakeholders who need introductory knowledge: Social Media Marketing for Dummies Cheat Sheets

In the coming weeks OptimizeBusiness.org will showcase a best in class, hosted SMM system for Australian SMB, NGO and NFPs ready to run with social media @Optimize_Biz