Why Sydneysiders aspire to the Hills
By Clr Dr Michelle Byrne
THE Census figures released last year provided interesting reading. You could spend weeks trawling through the statistics, figures and numbers and constantly find new, insightful information about the Sydney Hills.
Featured
Male networks extend glass ceiling say female execs
ABOUT 60 per cent of Australian business women say male dominated referral networks are one of the biggest barriers in their rise to executive roles, a survey from Executive Women Australia (EWA) has found.
Featured
New APP may transform renovation industry
A NEW App has been launched that may revolutionise the way in which Australian renovators and tradespeople purchase, sell and dispose of unwanted building materials that are often thrown out as rubbish.
Why working harder is not enough
By David Ley
WORKING hard in your business is not enough to ensure that it will be profitable.
In the modern economy, hard work is not a competitive advantage anymore; everyone works hard. “Become a Key Person of Influence” is a book written by Daniel Priestly.
He points out that if you were to gather up all the hardest working people in the world, you would not find the top CEO’s and Entrepreneurs, you would find the people who are struggling to make it up the ladder or struggling to survive it all.
The competitive advantage is in thinking expansively, connecting with the right people and spotting fresh opportunities.
Michael Gerber who has been described as the world’s #1 Small Business Guru tells the story of Sarah who owns a bakery.
She started the business because she was a great pie baker, and all her best friends told her to open a pie shop because she was so damn good at it.
Now she starts work at 3.00 in the morning, works hard baking, selling, cleaning up, ordering, paying invoices, banking and then preparing for the next day.
She finishes work at 9.00pm then starts to figure out how she is going to pay the rent next month. She has been at it for three years and now hates pies, and hates the business. So the business is not about pies……. its about hard work.
The fatal assumption says Michael Gerber is that “if you understand the technical work of a business, you understand a business that does the technical work.”
The facts are that this is just not true. I f you are a carpenter, or an electrician or a hair dresses, or even a lawyer that does not necessarily mean that you have all the skills and knowledge to run a successful business.
So what advise would Michael Gerber give Sarah to turn her business around and make it both profitable and a delight to turn up to work every day.
For the answer, Gerber turns to the most successful small business in the world-McDonalds. The average McDonalds restaurant produces more than $2m in annual sales, and is more profitable than almost any other retail business in the world, with an average 17% pretax net profit.
The key is that McDonalds not only lends its name to the smaller enterprise but it also provides the franchisee with an entire system of doing business.
When he first established the McDonalds business, Ray Croc spent a considerable amount of time working on the business. He took an expansive entrepreneurial approach, establishing tested and proven systems to run the business, as distinct from the limited technicians approach of just doing the work. To explain a little further, lets look at what an Entrepreneur does.
The Entrepreneur asks the questions:
• How must the business work? Rather than what work has to be done?
• What systems must be in place? Rather than a business in which people work to produce inside results?
• What is our vision of the future and what do we have to do to change the present to meet our vision of the future? Rather than what is going on in the business now and how do I keep it going?
• The Entrepreneur also sees the business as a whole, totally integrated and they work towards shaping the business as they see it in their vision of the future. On the other hand the technician sees the business in parts modeled on the present day.
The success of McDonalds is obvious to us all.
As a further example of an Australian business that has done a fantastic job of establishing clear and well thought out systems we need look no further than ”Jims Group”.
Jim has successfully established systems and franchised 35 small businesses, with everything from mowing, to building, finance, glass, dog wash, security etc etc.
In the 25 years since Jim Penman turned his mowing round into Jim’s Mowing, and started expanding, he has created a network of 20 divisions and 2700 franchisees in Australia, New Zealand, Canada and Britain, and now has a turnover of $200 million. Just go to Jims web site to read more about his philosophy.
Now franchising is not for everyone, but the message is very clear. If you are like Sarah then its time to start working on your business, establishing clear well thought out systems that put the customer first, and start thinking like an Entrepreneur.
If this seems like a daunting task, and you are unsure how to get started and would like to know more, then get some help from a professional.
David Ley is a Director with Thexton Armstrong Ley. Contact at him at david.ley@thextonarmstrong.com.au
Moss backs regional LAS Awards
ONE of Australia’s most successful business leaders has backed a new regional awards program that recognises success and leadership in Greater Western Sydney (GWS).
How to avoid currency conversion fees
MORE than three million Aussies are planning a holiday into 2013.
A typical Australian family of four, who will spend approximately $16,000 when travelling to a popular destination such as Bali for two weeks, can save over $400 by switching to a card with no foreign currency conversion fees.
A recent study found that 57% of people bought goods on their credit card whilst travelling abroad and yet 78% of people did not know what they were paying in foreign currency conversion fees.
Many travelers are in the dark about the fact that whilst they are shopping up a storm and enjoying their trips overseas, banks are reaping the rewards by charging millions of dollars per annum in foreign currency conversion fees.
Jeremy Cabral, Publisher of leading credit card comparison website, CreditCardFinder.com.au says: “By simply planning ahead and making savvy decisions with holiday money, Australians can make major savings. Conversion fees can eat into your travel budget but there are ways to avoid this and save cash.”
Mr. Cabral has the following tips for Australians travelling overseas:
• Research your travel money options - Before you go overseas look into your credit card’s foreign currency conversion fees, charges and exchange rates as you can save yourself hundreds of dollars by doing so.
• Consider a no foreign currency exchange fee credit card - there are some credit cards in market which do not charge for foreign currency exchange conversion and can save you between 2% - 3.5% on foreign currency conversion charges. Visit http://www.creditcardfinder.com.au/foreign-currency-international-fees-for-credit-cards.html for more information.
• Notify your bank - Before you head off, notify your bank of your travel plans and contact details so they won’t flag your transactions as suspicious or fraudulent when they see international purchases on your accounts.
• Always have some cash on you – As a backup keep a small amount of cash with you just in case you are unable to use your credit card or withdraw money from an ATM.
• Keep all receipts from purchases or payments – This will allow you to correctly verify them against your statement on your return home and will be helpful if you ever have any transaction disputes or need to do a chargeback.
• Avoid exchanging cash at the airport – Airport exchanges have much higher transaction fees than your bank.
• Separate where you store your credit cards, cash and passport. It’s important to take more than one card overseas as a backup in case your wallet is stolen. It is also important to have a copy of all your identification documents.
Carrying large amounts of cash is a major hassle when travelling. It can be lost or stolen and there is no getting it back.
Credit cards with $0 foreign currency exchange fees are worth considering when choosing between travel money options.
Many of the banks have specifically designed credit cards for overseas travel that offer no currency conversion or transaction fees.
CreditCardFinder.com.au has several credit cards available on the website that are an option to consider for overseas travel and could provide you with significant savings, including:
Bankwest Zero Platinum Mastercard
• Foreign transaction fees are waived.
• Built-in airline travel and accident insurance protection wherever you are in the world.
• $0 p.a. annual fee forever.
• 0% p.a. for 6 months (reverts to 17.99% p.a.) on purchases.
• 55 days interest free on purchases.
• 24/7 concierge service to help you arrange travel, bookings, shopping and medical services.
• Up to 3 additional cardholders – free!
• 24/7 account access via Bankwest Online Banking.
Aussie Platinum Low Rate Credit Card
• No international transaction fees charged.
• Complimentary travel insurance.
• Annual fee of $99 per annum.
• 4.99% p.a. for 4 months (reverts to 13.29% p.a.).
• Interest free period of up to 55 days.
• A personal concierge service is offered to Aussie Platinum Low Rate cardholders. Get access to local knowledge 24 hours a day seven days a week, no matter where you are in the world.
28 Degrees MasterCard Credit Card by GE Money
• No transaction fees, and no withdrawal charges or any currency exchange charges.
• $0 p.a. annual fee.
• 20.99% p.a. interest rate on purchases.
• Interest free period of up to 55 days.
REGIONAL ROUND-UP January 2013
Summary of news and initatives from GWS in January 2013.
AN estimated 100,000 visitors from overseas, Australia and interstate are expected to visit Penrith, in 2013, to attend a number of major events, which include the Australian Youth Olympics, Dame Kiri TeKanawa at The Joan Sutherland Centre, 2013 International Rowing Regatta and the Bicentenary Crossing of the Blue Mountains.
Caves to be privatised
THE NSW government proposes to privatise the world famous Jenolan Caves. The Environment Minister, Robyn Parker, said proposals would be sought early this year to take over management of the caves, including from business, local government, charities, individuals and the not-for-profit sector. The successful applicant would be offered a long-term lease on the hotel and another 30 buildings on the site, as well as access to the caves.
Placements continue to grow
THE Blacktown Regional Economic and Employment Development (BREED) Taskforce Inc reports that the number of work placements provided each year continues to grow. In 2012 over 3,500 students were placed into businesses across the Blacktown region.
Farmland in parklands
FARMLAND within the Western Sydney Parklands will be rejuvenated in a move that will create 100 jobs, provide up to $45 million of investment and boost tourism through the creation of a farm gate trail. The Horsley Park Urban Farming Master Plan will see 159 hectares of existing farmland land within the parklands set aside exclusively for glasshouses, poly/greenhouses, market gardens and orchards.
Firm wins an award
ENSITECH, an Emu Plains manufacturer won the Small Business Award at the 50th Australian Export Awards. The company produces high-quality products which change the way users do business by providing a safe, efficient alternative to dangerous and contaminating industrial practices. It is the award-winning developer of the TIG Brush® Stainless Steel Weld Cleaning System and the Ensitech Surface Finishing System.
Homes and jobs
MORE than 10,000 homes will be built for nearly 30,000 people at Marsden Park near the North West Rail line. Marsden Park will benefit from a new town centre providing commercial uses, two new villages with shops plus conservation and park areas. Four new schools are planned and combined with the shopping precincts around 3,000 permanent jobs are expected to be created. An adjoining industrial park being built has the capacity for 17,000 new jobs.
Business Park approved
THE Western Sydney Parklands Trust proposal has been approved for a 21-hectare subdivision of the proposed Horsley Drive Business Park, at the corner of The Horsley Drive and Cowpasture Road, Wetherill Park. The proposal is expected to generate $15.6 million in capital investment value for the region and generate approximately 100 construction jobs and the potential to provide 600 future operational jobs.
100 leading scientists
NEARLY 100 of the world's leading scientists gathered at the University of Western Sydney (UWS) Campbelltown campus for a symposium on magnetic resonance imaging (MRI). The event, hosted by the UWS School of Science and Health, covered a range of topics including the medical and industrial applications of this versatile imaging technique.
Sold for $11.5 million
CASULA Central, a retail and commercial business centre on the Hume Highway, at Casula, has been sold to a private syndicate for $11.5 million on behalf of receivers, KordaMentha.
First of its kind
THE Ingham Institute, at Liverpool, and UNSW’s executive director of the Translational Cancer Research Unit, Professor Afaf Girgis, recently received the Inaugural Australian Clinical Oncology Society of Australia (COSA) Psycho-Oncology Award. The national award is the first of its kind in Australia.
New dwellings
SOME 3,100 new homes for 9000 people are planned near the South West Rail line, at Catherine Field. The site will have a neighbourhood centre, housing shops and a community centre, the heritage Oran Park House will be protected and an environmental corridor established along South Creek. Three new schools are planned.
Management school opened
THE S P Jain School of Global Management, at Sydney Olympic Park, is a global business school, with campuses in Dubai and Singapore. S P Jain’s tri-city model offers students the unique opportunity of studying in three cities in the Asia-Pacific region. The campus can accommodate 500 residential students.
Portals to be considered
PARRAMATTA City Council has granted approval for portals to be built in the Lennox Bridge, in the Parramatta CBD, to provide pedestrian access under each side of the bridge along the riverfront and associated road works and landscaping within the foreshore reserves. Two hundred and ten submissions were received of which ten were in favour.
Manager of CBD economy
PARRAMATTA City Council has advertised for a manager, of the CBD economy. The successful applicant, who will join a small team of strategists and project managers inside council’s economic development unit, will help in producing a high-level strategy for the CBD and data that expands council’s understanding of the 24/7 economy. The two-year temporary position will have a salary of $101,580 plus super.
Seeking funds for precinct
PARRAMATTA City Council will prepare an expression of interest for round four of the Regional Development Australia Fund for the development of the Riverside Theatre and Entertainment Precinct, integrating the redevelopment of the council-owned Lennox Bridge Car Park site, across the Parramatta River. The car park site will include a council-owned and operated Discovery Centre, a privately-owned 1200-seat convention centre and associated retail and public domain improvements.
