Adapting Your Marketing in the

Adapting Your Marketing in the COVID-19 era

By Cathryn Fish Stephens

No matter your company size, industry or location, every business has been and will be affected by COVID-19 for years to come.  Our business environment is likely forever changed, and we now face the task of adjusting to and embracing the “new normal”. 

From a marketing perspective, businesses now face the challenge of adapting their marketing strategies and plans to adapt to this new normal.  Many of the fundamental marketing principles remain constant in this changing environment and at the same time, there are emerging trends and changing behaviours which require a change or adjustment in marketing tactics.

How do we adapt to evolving and uncertain market conditions to ensure we can continue to reach our customers, build meaningful connections with them, and convince them to purchase our products or services?

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How to Generate More Sales

How to Generate More Sales Using Digital Marketing

By Adam Rowles, Inbound Marketing Agency

Businesses know how vital digital marketing is.  With people spending more time on their smartphones and tablets, it’s only natural that you would want to promote your business where the audience is.  However, the biggest reason why businesses struggle to get results from their digital marketing is that they don’t have a system.

We often see businesses try advertising on one platform, like Google Ads or Google SEO, and it may not work.  Then they switch and try another platform, like Facebook or LinkedIn.  Doing all these things individually, without a plan, is not going to generate the results you want.

Every successful digital marketing campaign starts with a plan and we call this a ‘Digital Marketing Blueprint’.

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SPIN – What’s in a Question

SPIN – What’s in a Question?

By Tony Monisse

Developing an Effective Sales Process

Now more than ever, businesses need the rigour and efficiency of an effective process to help them secure new clients and achieve sales budgets.  In our experience, most businesses do not have a developed sales process which can lead to inefficiencies and lost opportunities and limit business growth. 

Even during these unprecedented times of COVID-19 and the resulting economic downturn, the fundamentals of selling remain the same.  That is we need to understand who we are selling to, what their needs are, tailor our messaging to appeal to them and their needs and have a sales conversation.  

We were recently working with a client on their sales process using the SPIN questioning technique for the initial phase of the sales process.  The initial phase is about discovery or analysis of their needs and learning as much as you can about the potential customer and in particular getting to their real challenges, needs and aspirations.  

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Business Growth Network June 2020

Business Growth Network June 2020

Leadership 2025: Lessons from Leading through Challenging Times

In each Business Growth Network (BGN) workshop we seek to inject new thinking about leadership high performance.  This round, we looked at lessons from leading through a challenging period and discussed insights on navigating through as a leader.

As leaders settle into a new normal as restrictions imposed during the COVID-19 crisis slowly lift, we reflected on the lessons learnt and high-performance habits/strategies that can be embraced into the years ahead.  We looked towards 2025 and the capabilities required for success as leaders.

Topics and strategies discussed included:

  • The roadmap for business leaders through this current crisis
  • What strategies can be embraced based on the severity of impact to the business?
  • Leadership in 2025 and what are the four attributes of leaders successfully navigating this crisis
  • Evolving business and team structures and what will stick over the next 12 months
  • What is working for leaders in navigating the crisis to pivot/adapt their products, services and business?
  • What key actions should be taken over the next 30 days?

Overall a terrific morning was had by all to point each leader in the right direction for greater success in 2020 and beyond.

If you’re interested in joining our practical, high-value learning sessions please contact us or call our office on (08) 6212 7200 for more information.

 

Business Budget planning

The Importance of Budgeting in Business

By Chris Mandzufas

A realistic and detailed budget is crucial for guiding your business to tackle unexpected challenges and to ensure you stay on track to grow.  

It may seem obvious that business growth can only occur when there is money available for reinvestment, but it is surprising how many businesses do not budget and do not track their performance against a budget.

In the current environment, a realistic and detailed budget is a very important tool for providing valuable information, guiding your business to tackle unexpected challenges and most importantly to ensure you stay on track to grow.

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forcast

Why Preparing Three-Way Forecasts is So Vital

By Tony Monisse

Learn why it is important to forecast the profit & loss, cashflow and balance sheet.

As I see it, a budget is merely a forecast prepared at a point in time.  This point in time is usually tied to the end of the financial year and the business’ planning cycle.

In contrast, a forecast is frequently updated based on the changes in the operating environment e.g. winning a new contract, losing a key customer or a change in the staffing situation.

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JobKeeper Package

Details of the Government’s Third Stimulus Package: The JobKeeper Payment:

On 30 March 2020, the Federal Government announced further economic stimulus measures for businesses and employees, called the JobKeeper Payment.

The payments will assist eligible employers that have experienced a downturn due to COVID-19 to retain eligible employees by providing a subsidy of $1,500 per fortnight per employee.

Businesses are encouraged to register via the ATO website their intention to apply for this stimulus payment.  Further details on how to register can be found below.

What payments will be made: 

  • Program commences on 30 March 2020
  • First payments to be made in first week of May 2020
  • Payments to be made for up to six months
  • Flat $1,500 per eligible employee

Eligible Employers are: 

  • Annual turnover less than $1b
  • Reduction in revenue of 30% or more since 1 March 2020 relative to a comparable period a year ago (of at least a month) – we expect further announcements on how to calculate and verify this requirement in the coming days
  • Applies to companies, trusts, partnerships and sole traders

Eligible Employees are: 

  • On the employer’s books as at 1 March 2020
  • Has been retained, and continues to be engaged by that employer (including recently stood down employees)
  • At least 16 years of age
  • Full time employees
  • Part time employees
  • Casual employees who have been with the employer for at least the previous 12 months
  • Employee is only eligible to receive this payment from one employer
  • Self-employed sole traders are also eligible
  • Must be Australian residents, or
  • New Zealand residents who hold a subclass 444 special category visa, or
  • Migrants who are eligible to receive the JobSeeker Payment

Other Important Information:

  • Employers must notify employees that they are receiving the JobKeeper payment
  • The payment must be paid in full to employees (after taking out withholding tax as required), including to employees whose usual salary is less than $1,500 per fortnight
  • If the employee’s wage inclusive of tax is usually under $1,500 per fortnight, then Super Guarantee is only required on their usual salary (not on the additional top up)
  • If the employee’s wage inclusive of tax is $1,500 or above per fortnight, then Super Guarantee applies as usual
  • Employees in receipt of the JobKeeper payment will not be eligible for the JobSeeker payments
  • Businesses will be self-assessing their eligibility.  Note that the ATO will likely conduct compliance activity in the future to ensure eligibility requirements were satisfied at the time
  • Employers will be required to provide monthly information to the ATO regarding the eligible employees.  This will be pre-filled with Single Touch Payroll data.

Further updates to come: 

The JobKeeper Payment has not yet been legislated and the full details on eligibility for the payment for both employers and employees are not yet fully disclosed.

We will continue to keep you updated with future developments.

Register intention to apply for the JobKeeper Payment: 

Employers can register their intention to apply for the payment at the below website: ATO

Information required to register your interest is:

  • Business Name
  • ABN
  • Contact Name
  • Email Address
  • Mobile No.

The ATO will then continue to provide updates and request confirmation of eligibility at a later time.

Should you have any questions regarding this stimulus package, please do not hesitate to contact this office on (08) 6212 7200 to discuss.

Further updates will be provided when available.

GROW ACHIEVE PROTECT with Brentnalls WA – Newsletter, March 2020

  1. Getting Your Strategic Focus Right in 2020
  2. The question all CEOs should ask?
  3. Navigating Challenging Times: Myer – A Case Study on Growth Profit and Cashflow
  4. 2020 Mindshop Business Leader Survey – Business Leader Insights for Success

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Newsletter

GROW ACHIEVE PROTECT with Brentnalls WA – Newsletter, November 2019

  1. Focus on Your Cashflow in the Lead up to the Christmas and New Year Holiday
  2. Fringe Benefits Tax at Christmas
  3. How to Get the Most From Your People in 2020
  4. Brentnalls WA News

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Brentnalls WA BGN September 2019

Business Growth Network September 2019

Business Growth Network round 3, 2019: Discovering what every leader needs to know to keep their business innovative.

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Newsletter

GROW ACHIEVE PROTECT with Brentnalls WA – Newsletter, August 2019

  1. 4 Ways to Increase Your Sales Revenue
  2. Trust – Why Trust is the Crucial Component for Customer Relationships and Business Development
  3. The Importance of a Professional Online Presence

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Financial lender

Changing Market Creates a New Lending Environment

Australian financial markets are constantly changing and with these changes comes a new lending environment.

It is important to stay on top of and to understand these changes when approaching financial institutions (banks/lenders), to ensure your business receives a positive outcome.

We spoke to Ledge Finance Ltd, one of the markets leading finance facilitators, about their thoughts on the debt market as they currently see it, with a primary focus on the small-medium enterprises (SME) market and how it is being impacted. Further focus is on how this impacts the equipment finance market over the short to medium term – the lifeline of capital intensive balance sheet businesses.

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growth workshop in boardroom

Taking Control of Sustainable Growth 2019

Taking control of growth

How to address the challenges of sustainable growth in 2019 was under the spotlight at the recent BGN breakfast workshop. Using the idea of ‘learning in the flow of work’ we linked insights about business growth directly to day-to-day challenges of attendees. 

Looking at taking control of growth we discussed: 

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Newsletter

GROW ACHIEVE PROTECT with Brentnalls WA – Newsletter, May 2019

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News Flash - Single Touch Payroll

Mandatory Single Touch Payroll

The Government has passed legislation that requires real time reporting of payroll data to the ATO at each pay period, making it mandatory for all employers to use Single Touch Payroll from 1 July 2019.

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tax policy

Snapshot of the ALP Key Tax Policies

Snapshot of the ALP Key Tax Policies

Snapshot Of The ALP Key Tax Policies (Compared To Coalition Tax Policies)
The table below outlines some of the key ALP tax policies of interest.

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BGN_Leadership resilience

Leadership Resilience Strategies

Our recent Business Growth Network (BGN) event  focused on the important topic of leadership resilience.

Attendees discovered emerging leadership trends for 2019 and discussed boosting their probability of personal change success.

Interesting highlights included the idea of being more contrarian as a leader, why we think less is going to be more in 2019 and identifying (and dealing with) that one third of your team holding you back.

Attendees challenged each other on strategies to 100% guarantee success, including initiating 90-day accountability cycles then discussed ‘putting some rubber on the road’ with practical tips and tricks to put ideas into effect back in the office.

Please contact us if you’d like to discuss the thought-provoking leadership strategies and/or would like to learn more about our quarterly BGN breakfast events.

crowdfunding

Crowdfunding: Tax & GST Implications

In this article we explore what exactly crowdfunding is and the implications of crowdfunding for both the entity receiving funding and the entities that contribute or pledge money.

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The habits of Effective

The Top Habits of Effective CEOs: Agile Leadership

In this blog, we continue to explore the topic of agile leadership, which we covered in a recent breakfast we facilitated with business owners and CEOs.

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Agile leadership strategy

Intro to Agile Leadership

The focus of our recent Business Growth Network (BGN) event was agile leadership and what exactly this means for individuals and businesses as a whole.

According to the simplest definition, the word “agile” means having the ability to move quickly and easily and being able to think and understand quickly.

Given the huge number of publications on the concept, it may seem like it is just another buzzword in today’s world of business. However, this is not the case when it comes to agile leadership. In its recent report, the World Economic Forum published a list of top skills required to be successful as leaders in 2020, many of them related to being more agile.

The Agile Business Consortium (the UK based not-for-profit body) released their first white paper on the topic in late 2017. To this day, this document remains to be an extremely relevant guide on how to be agile as a business leader. According to it, the keys to agile leadership lie in the concepts of Communication, Commitment and Collaboration. Much of our discussion during the BGN centred around these three words and in particular, the following nine principles:

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FBT exemption for minor private use of vehicles

Fringe Benefit Tax Update

The ATO has this week finalised the guideline relating to the “minor, infrequent and irregular” use of Fringe Benefit Tax (FBT) exempt motor vehicles, and there are some notable changes from the previously released draft guideline.

These updates can affect any business that provides utes, vans and similar exempt vehicles to their employees and Directors.

Employers can rely on the exemption from FBT provided under this guideline, if:

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Brentnalls WA appoints new Director

We are pleased to announce the promotion of Chris Smith to the position of Director.

Chris Smith has over 14 years of experience in tax, superannuation funds and business advisory to various companies in Western Australia. He holds a Bachelor of Commerce, Accounting & Finance degree from the University of Western Australia.

“We are delighted to welcome Chris as a new Director,” said Tony Monisse, Brentnalls WA Managing Director. “Chris has been with us for over 4 years and his expertise in taxation, asset protection and estate planning have been invaluable to our growth in recent years.”

Chris Smith added, “It’s a great privilege to be able to join Tony and Chris Mandzufas, the other Brentnalls WA director, in this exciting and challenging role. I look forward to further strengthening our position as a key advisor in the matters of tax planning and transaction advice to Western Australian businesses.”

Brentnalls WA to present at GrowthCon Perth

We are pleased to announce that our Director, Tony Monisse, will be co-presenting at GrowthCon Perth 2018.

 

We are pleased to announce that our Director, Tony Monisse, will be co-presenting at GrowthCon Perth 2018. The event will take place on Friday, July 27th from 8.30am to 12.30pm at Bendat Centre in Wembley, WA.

GrowthCon is a conference that will give entrepreneurs an opportunity to learn about growing a business from the top experts in finance, marketing, sales and technology.

The key topics the presenters will address are as follows:
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Strategy Process

Brentnalls WA Director Tony Monisse describes the strategy process to help improve your business’s success.