29 July 2011

These are the topics being covered in this issue:


Wisdom of Experience
Dealing with Sales Downturns
Tools for Tough Economic Times
Shared Use Kitchen Incubator
Building Activity to Plunge Further

Wisdom of Experience

There are now four Peer Solutions Groups operating or under formation, comprising about 40 businesses.  Three of the groups involve Stage II businesses, one is for relatively inexperienced early stage businesses.  More groups will be formed as required.

Meetings last two hours and members set the rules and the topics for discussion based on the issues they are mostly dealing with.  Peer Solutions also provides an opportunity to test your ideas amongst your peers.

Outcomes have been excellent for all involved, reflecting that one of the best business development tools is the experience shared by others also in the ‘trenches’.

Some of the subjects discussed or planned to be discussed to date include the following, with  the emphasis being less on theory but much more on local circumstances.

Dealing with Sales Downturns

·         Designing a communication and distribution strategy.

·         Marketing, including measuring effectiveness.

·         Strategy drift.

·         Preparing a customer relationship strategy.

·         Planning, including exit strategies and succession planning.

·         Working ‘on’ rather than ‘in’.

·         Scope Creep beyond the original agreement.

·         EFTPOS sales.

·         Commercialisation of a new idea.

·         Starting a new office location.

·         Time management.

·         Website optimisation.

·         Retaining quality staff.

·         Commercial contracts.

·         Do I spend too much time on unprofitable customers.

·         Preparing a social media strategy.

If you are genuinely interested in growing your business and willing to share trust and confidence Peer Solutions could just be for you.  If you are interested please contact me on the details below.

Tools for Tough Economic Times

Every business will face tough periods – some are always facing them.

Now is the time to do (or redo) your strategic business plan.  And to do this you should compare your business with your industry.

Is everyone in your industry having problems?  If this is so there will probably be a shake-out with only some surviving.

Is it time to partner to gain some operational efficiencies?

On the other hand, if it is only your business that is having a problem then you will need to learn what your competitors are doing differently to you.

The Economic Development Section has a valuable resource called Service Benchmarks.  This will allow you  to compare your performance against industry averages for your sector.

Many (but not all sectors) are available.  As they are copywrite you will need to view them at Council.  Please contact Wendy or myself to make sure one of us is here to help.  There is no charge.

Shared Use Kitchen Incubator

We have been discussing with our friends at St Columba Anglican School the opportunity to utilise their canteen are for those businesses wishing to prepare, process or cook food in approved premises.  Obviously they will need to occur after school hours or at weekends.

By sharing the use of the facility overhead costs can be kept to a minimum.

We consider this opportunity is paramount as food safety regulations are becoming tighter and tighter.  If the trial is successful we will confidently proceed to a larger facility with a range of food processing lines in the future.

If you are interested please contact me on the details below.

Building Activity to Plunge Further

Our most recent analysis of the Port Macquarie Hastings economy indicated that our very important building and construction industry is down by approximately 30% over last year.

The recent Master Builders Australia June quarter 2011 suggests the mood remains gloomy particularly since the Government’s stimulation programs have now tapered off.  MBA claims the spectre of interest rate rises is casting a pall over the industry.

One local builder I recently spoke to believes profitability is not being helped by the high range of competition in ‘everything that comes up’.

11 July 2011

These are the issues being covered:

Difficult period ahead for retailers creates some opportunities

Most recently accredited Customer Care firms

Local business conditions

The Skite Spot

Difficult period ahead for retailers creates some opportunities



It has been a difficult year for retailers.  My figures suggest that within Port Macquarie-Hastings, turnover could be down by as much as 30% (although it is difficult to compare with last year as some industry classifications have changed).  Consumer confidence seems to have been affected by a range of circumstances but particularly uncertainty regarding pricing for fuel, power, carbon taxes and interest rates.  Inflation is on the rise.  Significantly the Australian National Accounts say that we are now saving about 11.5% of our income versus an average of 2.5% prior to the financial crash in 2008.  Combining all of these with big increases in online spending gives an indication of the forces working against local retail opportunity.  A response by the big corporates to the changing environment, as always, is to slash operating costs – meaning fewer and more poorly trained staff.  This creates, in my mind, significant opportunity for the small operator focussed on delighting their customers.  I remember an old analogy that says “while you can’t change the head winds you can almost always change the sails”.



Photos taken by Hydro Photographics

The 5^th Annual Customer Care Awards, very ably organised by Rachel Ross, was a celebration of local business focused on doing exactly that.  For a full list of winners and photos click on the links below.

http://thecustomercare.blogspot.com/

http://www.facebook.com/pmhc2444?v=wall#!/media/set/?set=a.201242873260535.65065.117445394973617

Most recently accredited firms

Speaking of Customer Care, seven more businesses have recently been Customer Care accredited, they are:

Telegraph Retreat – Melanie Marshall.  4½ star country retreat, luxury bed and breakfast.

Port Macquarie Day Spa – Jamie Finn, Rydges complex in Hay Street.  Relaxation, rejuvenation and therapies.

Thara Thai Restaurant – Thararat Watson, Timbertown Shopping Village, Wauchope.

XS Food – Rachel & Craig Freudenstein, Merrigal Road, Port Macquarie.  Food and beverage services and event catering.

Fredo’s Meats – Guy Williams, Lake Road.  Fresh locally grown produce and meats.

Men At Work – Scott Russell, Belah Road.  Ground maintenance, traffic control, transport.

XYZ Support – Zoe Pogonowski, Swift Street.  Website design, graphic design, maths tutorial business.

As these businesses are now officially accredited they are free to use Customer Care materials on all of their advertising and be promoted as Port Macquarie-Hastings “top shelf” businesses together with the other 360 existing members.  That means we have about 5,700 currently non accredited firms to go – a daunting but worthwhile task if Port Macquarie-Hastings is going to be recognised as Australia’s pre-eminent service excellence destination with all of the benefits that implies.

If you are interested in discussing the opportunity of becoming a Customer Care accredited firm, please contact Rachel Ross on 6581 8036 or email Rachel.ross@pmhc.nsw.gov.au

Local business conditions

I had the opportunity to discuss local business conditions at the Port Macquarie Chamber of Commerce meeting last week.  In summary:

·         Gross Domestic Product is down 5% of the previous year.

·         Value of exports $1.5b – 14% greater than imports.

·         Labour force 30,000 people.

·         Unemployment 5.7%.

·         The top 3 key contributors to economic activity 2011 are health care and community services; accommodation and food services; electricity, gas, water and waste services.

·         The workforce is aging rapidly.

·         More jobs are being created for women than men.

For a full copy of the presentation, please click on the link below:

http://library.constantcontact.com/download/get/file/1103899334145-143/Performance+of+Economy+21+06+11.pdf

Should you require further information, please contact Trevor Sargeant on 6581 8660 or email Trevor.sargeant@pmhc.nsw.gov.au

The skite spot

What you can do in the skite spot

The skite spot is all about sharing and its free.  What you can do:

·         Introduce yourself.

·         Share some recent good news stories about your business.

·         Praise another business.

·         Laugh about something you had a go at and it didn’t work.

Don’t be humble or shy because then we wont get the good news out, promote your accomplishments and inspire others.

How does it work?

Email me Trevor.sargeant@pmhc.nsw.gov.au.  Remember this is not an ad, it’s a discussion amongst friends.  So jump in and remember to applaud each other.

Your skite will remain as part of the current edition for two weeks and then be archived with previous editions on this site.