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Archive for December, 2010

What do you think? – What’s your opinion re ‘social icons’?

Consortia Marketing Header

What do you think about these ‘social media’ icons that appear around company and even individuals contact details?

Are you in favour of being able to choose your method of communication with your contact/company, be it email, phone, Twitter, Facebook etc? Or do you just consider them to be ‘clutter’?

We would like to hear your comments here on this blog.

Consortia Marketing tends to offer many ways in which people can get in touch – for example, look at the header from our website (www.consortiamarketing.co.uk)

Please comment on the use of ‘icons’ in company and personal branding.

BUSINESS TIP – SOUL SURGERY!

SOUL SURGERY

Just a quick reminder that . . .

The “No” you just heard

The obstacle you are now facing

The difficult client you are dealing with

Even that moment when you ask yourself . . .

“Will I make it happen?”

Is just life performing some soul surgery . . .

You can’t see it

You can’t feel it . . .

But it’s making you better!

Think about that one and go back out there and seize the day!

And don’t forget to bring your “soul”!

Acknowledgement: Paul Castain (Good Old ‘Uncle Paul’!) (www.yoursalesplaybook.com)

ANOTHER TWITTER TESTIMONIAL!

@RobinKingEA: If anyone needs some guidance on how to use social media properly, then @Consortia_Eric is your man!

MERRY CHRISTMAS & A HAPPY NEW YEAR!

MERRY CHRISTMAS TO ALL NATIONAL HOMES NETWORK MEMBER ESTATE AGENTS, AND ANYONE ELSE AFFILIATED WITH THE PROPERTY INDUSTRY!

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Social Media Tips on my e-newspaper today

Lots of Social Media Tips today on The Eric Woodhams Daily E-Newspaper. Click here to read the newspaper –  http://t.co/h1eJzxT

VAT increase – prepare and prosper

VAT increase – prepare and prosper

 

The headline rate of VAT increases to 20% from 4 January 2011 and will have important implications for your business. We offer some valuable tips to help you prepare and lessen the impact.

For many businesses, VAT paid on purchases is fully recoverable. The increase will produce only a small change – positive or negative – in net cash flow. But it represents an extra cost for consumers and small companies not registered for VAT or who use the flat rate scheme and operate on tight profit margins. So, particularly if you sell direct to consumers or cannot reclaim all the VAT, there are several things worth considering.

Think hard about pricing. Are you going to pass on the extra VAT to your customers or absorb it yourself? Absorb it and you lose 2.1% in revenue (120/117.5); passing it on means a price increase to customers of the same 2.1%. If your product or service is unique or you use other selling points, for example, outstanding after-sales care as a differentiator, absorbing the increase may not be necessary. But if your market is highly price sensitive, this could open the way for competitors and you need to think twice about passing the increase on.

If you provide services rather than goods and have non-VAT or flat-rate paying customers, offer to invoice them early, before the rise. They’ll welcome the gesture and it should help your cash flow. But take care that payment of the invoice is due within six months of the invoice date.

Talk to your employees. As they are ‘at the coal face’ of your business, ensure they understand the impending changes. Provide them with a few ready answers, should customers query any price hikes – such as ‘it is the government’s decision, not ours’ which could persuade the customer to accept the higher cost.

Check supplier contracts. You may see your overheads increase as suppliers put up their prices and this could be the deciding factor on whether or not to pass on the increase. If you are not already VAT registered but make a large number of VAT-liable purchases, registration may be a more attractive option.

Review current accounting systems. Sole traders, start ups and SMEs should have a technology solution in place by 4th January that is capable of accommodating the rise. This will ensure a seamless transition and will free up time for core business activities.

Get your record-keeping right. Despite the problems you are likely to encounter, HM Revenue and Customs are unlikely to take a kind view of companies who fail to keep up proper accounts, and errors are expensive. Those companies with manual pricing systems in particular may struggle with the extra work needed to make sure that the first VAT return submitted following the hike is accurate. Issues to tackle include:

• Reporting at two different rates within a single accounting period;

• Applying the new rate to sales orders in progress;

• Equivalent changes in purchasing, self-billing standing orders and direct debits;

• Applying different rates to VAT-inclusive purchase invoices or employee expenses systems during the transition;

• Issuing and receiving credit notes;

• VAT-inclusive sales pricing in retail and ‘etail’ systems;

• Quotations where words/prices will need amending;

• Forecasting and budgeting systems.

You should make sure you seek advice from your accountant to help you deal with issues of this sort.

Focus on marketing. If you plan to absorb the increase, make a lot of noise about it after 4th January. Even if you plan to pass the increase on you can still exhort potential buyers to purchase pre-4th January, before the increase takes hold.

Get set for a pre-hike surge. Consumers generally rush to take advantage of ‘bargains’ before a VAT rise. Especially if you deal in big-ticket items you should ensure that you’re ready for it.

And then the post-hike lull. Retailers should expect sales to suffer. How long for is a matter of debate but you should factor this eventuality into your cash flow forecasts.

Although the overall costs of the rate change could still be significant, they won’t be as high as the previous two changes. By thinking ahead you can minimise the difficulties for your firm – and possibly even profit from the change.

(Image from: mark-lawton.com)

BUSINESS & PERSONAL DEVELOPMENT TIP: 5 ways to go from Drone to Dynamo!

5 ways to go from Drone to Dynamo!

Here are five ways that you can escalate your ability to stop being considered a drone and become recognised as a leader of ideas:

1. Change something about your daily routine so that your brain begins to work a little harder.   Our brains send messages along the same neuro-pathways, literally creating “ruts” when we do one thing on a regular basis. To get your brain refreshed, be sure that you do something different that forces the synapse to fire in a different direction, literally getting you out of the “rut.” Daily changes could include:

Read a new type of book

Start to learn a new language

Take a new route to work

Listen to a different radio station

Read a different newspaper

2. Block out 20 minutes for at least one brain workout per day.  You do that for your body, don’t you?  Well, if you don’t, you should.

3. Write down a current challenge you are currently working on.   Select a challenge that is frustrating you or that is highly visible. Coming up with ideas will help generate your energy around the challenge. This “challenge” could be a co-worker or team member (and often is).

Example: Jane Smith is not interacting in my sales meetings.

4. Every day, in your 20 minutes, write down five new ideas concerning how you will solve your current challenge.  Having a certain amount of ideas will help you actively generate new ideas and solutions rather than feel overwhelmed. The ideas should have no boundaries like “how” or “what if.” Just write them down.

Example: 1. Give Jane an active role in the meeting, asking her to share one idea of how she’s increased sales. 2. Take Jane to lunch and ask her why she’s not interacting. 3. Think about past interactions and performance appraisals – is she being demotivated by something? 4. Leave a note on her desk thanking her for her hard work. 5. Change the meeting – have 3 salespeople at one and 3 at another and make it more interactive.

5.  At the end of the week, select the ideas that are implementable with the resources at hand.  Review your ideas, and use the ones that will really work. What you’ve probably found is that during the week the idea session has already generated a new thought that you’ve taken action on.

Acknowledgement: Donna Highfill. Highfill Performance Group