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----Intro---
Welcome to this week's the savvybusiness show, I'm your host Peter Montomery.
Let's get start with this week's Savvy Headlines
(Here are the 3 top news articles)
1. http://www.smartcompany.com.au/information-technology/055225-tech-smes-set-to-contribute-up-to-109-billion-to-the-economy-within-20-years.html script: Startup Smart reported that Tech SMEs
have the potential to contribute $109 billion to the Australian economy, or around 4% of
GDP, by 2033. Australia currently invests approximately $US7.50 per capita in venture
capital per annum, compared to the United States ($75) and Israel ($150). Australia
has a considerably higher "fear of failure" rate than nations like the US and Canada,
constraining the sector. The tech community is key to changing this
by celebrating its own success and becoming more inclusive.
In the short term, Australia needs 2000 more tech entrepreneurs each year drawn from the
existing workforce. There is a link to the full article in the description below.
2. http://www.startupsmart.com.au/business/the-news-wrap-gillard-government-prepares-public-for-budget-deficits/201304229533.html
Prime Minister Julia Gillard is set to use a speech at the Per Capita Institute think
tank in Canberra to reveal a $12 billion forecast deficit in the federal budget this financial
year, due to lower taxes from companies. However, despite the massive shortfall, the Prime Minister
is expected to rule out cuts to major new spending initiatives, including the Gonski
school funding reforms or DisabilityCare. "Put simply, spending is controlled, but the
amount of tax money coming to the government is growing much slower than expected. As we
make those decisions, let me be crystal clear about what we will and won't do," Gillard
is set to say in the speech. We put a link to the full article in the description
below.
3. http://www.smh.com.au/small-business/startup/anz-pledges-1-billion-for-startups-20130409-2hi8t.html
The ANZ Bank has this morning pledged to lend $1 billion to new businesses over the next
year. Small business operators have hailed the "big
four" bank's move as a deserved mark of respect for small business start-ups, although questions
linger about whether they will take the assistance being offered.
Dean Ramler, founder and CEO of furniture business Milan Direct, said banks should treat
small businesses with respect "from day one". The total value of newly approved loans of
less than $100,000 fell to $2.6 billion in the December quarter, down from $3 billion
early last, latest Reserve Bank figures show. But there appears to be more appetite for
borrowing by larger companies. Newly-approved loans worth more than $2 million rose over
2012, the RBA figures show. There are, however, question marks about whether
small businesses actually want the money. According to data released in late February
by financial services research house East & Partners, small businesses are saving more
than they are borrowing. The data showed for every $1 small businesses borrow, they are
saving $2.78. Nevertheless, the response from small business
to ANZ's announcement has been positive.
There is a link to the full article in the description below.
4. http://mashable.com/2013/04/19/google-earnings-brief/ (http://www.dailyfinance.com/2013/04/18/google-1q-earnings-rise-16-beat-estimates/)
Google announced its quarterly earnings Thursday; it cleared $13.97 billion in revenue, up 31
percent year-over-year.Microsoft's earnings beat the street, too - $20.49 billion in revenue
is up 18 percent from last year. Mobile ads so far have fetched less money than those
viewed on the larger screens of laptop and desktop computers.
But a growing number of people are clicking on mobile ads as they increasingly connect
to Internet services on smartphones and tablets, driving down average price paid for a marketing
link. Google's average price, or the "cost per click" to advertisers, has fallen from
the previous year in six consecutive quarters, including the opening three months of the
year.
Revenue climbed 31 percent from last year to $14 billion. After subtracting advertising
commissions, Google's revenue totaled $11 billion.
There is a link to the full article in the description below.
5. http://www.startupsmart.com.au/financing-a-business/tax/small-businesses-pessimistic-over-federal-budget-prospects-survey/201304169476.html
More than half of small businesses are hoping for reduced taxes in next month's federal
budget, although the majority of firms are expecting the economic showpiece to hinder
SME growth, according to a new study. So what are small business owners talking
about this week? Lets have at look at our top 3 flavour of the week.
The survey shows twice as many small business owners believe a Coalition government would
be better for business than those who think it would be worse for business (47% versus
23%).
"Our survey found approximately half (49%) intend to maintain their current level of
investment over the next 12 months compared to 28% who intend to invest more in their
business," he says.
"Policies such as a reduction in company tax rates for all companies by more than 1% for
the 2013-14 income year, and a reduction in the cash rate, will help encourage reinvestment.
The survey found the majority of small business owners (86%) have experienced cashflow issues
in the past year, mostly due to customers making excuses for slow payments (34%).
Other major problems include issues with red tape, compliance and tax administration (24%),
higher costs of credit (24%) or limited access to credit (23%).
Respondents have also had trouble getting payment from large companies or government
departments (22%) or have had to write off bad debts (22%), while 16% have struggled
to meet their tax payments on time.
Flavour of the week
1. http://savvysme.com.au/question/177-what-do-you-feel-is-the-one-item-a-business-should-outsource-to-an-expert
Script:
Hazel from Expert Va asks:" What do you feel is the one item a business should outsource
to an Expert? We all have something business which annoys
us, or we find is too time consuming. What do you feel is the one item in your business
you would prefer to outsource to an Expert? The top answer was by Glen Rothquel, Owner
at Leads 2 Profits
Everyone should work out their core skills - the things they love doing and are best
at....and focus on them. Outsource the rest. Maybe you can't outsource everything in one
go....but start with the things you like least....bookkeeping for example....and let go of more as you can.
The more you focus on what you are best at....the more successful your business will become.
(I hope it's not bookkeeping...unless you are one!)
Bec Derrington, Founder at SourceBottle & The Media Bag contributed:
"I always think it's important to outsource the things you can't afford to get wrong,
like legal, accounting, business structuring, IP etc. And then, when the business starts
to hum, you should start outsourcing the things you don't need to do (like admin etc) so you
can focus on the things that impact on your bottom line. "
What do you think? Join the discussion on SavvySME
2. http://savvysme.com.au/question/194-managing-youtube-posts-how-do-i-get-my-videos-to-rank-on-youtube
Script:
Henrik Larsen Owner at Virtual Blue, asks:" Managing YouTube posts, How do I get my videos
to rank on YouTube. What are some of the tips and techniques that can be used to get your
videos to rank on YouTube? How do you use the paid advertising possibilities and what
sort of results are you getting? Are there any "analytics" like tools covering YouTube?
Are there any utilities, plugins, or other useful tools that you use when posting and
managing Youtube videos?
The top answer was by James NorquayConsulting Director at Professional SEO who gave some
very useful points such as: A few points to rank YouTube videos:
1. Use related keywords in your video title. 2. Use AdWords keyword tool and YouTube keyword
too for research on keywords 3. Use tags in the video with related keywords.
4. Use the description element in the video with related content to the title.
5. Try to do link building back to the video URL itself - use PR/ your own sites/ other
sites ect
I (Peter Montgomery) also shared his optimised YouTube description template which considers
the keyword, phrase, question you want it to be ranked for. Basically what will someone
who is looking for what your video will give them type in to search for it.
For more tips on how to rank your YouTube video and to contribute to the discussion
please follow the link in the video description.
3. http://savvysme.com.au/question/185-howimportantiscom-
Script: Dj Hodgson the Marketing & Communications Manage and BDM at David Henderson Online,
asked how important is a .com? "and how important is it going to be in years to come?
I know people will generically answer that it is best to get a .com, .co and a .com.au
- But where one already has the trade mark and branding for a given name/word but can't
get the .com -- is that a good enough reason to rebrand? Or do you suck it up and call
the website something else, add a hyphen etc. Thoughts?"
James Norquay responded with a few pointers:
1. Use a .com.au if you want to target the Australian market.
2. Use a .com if you want to go global (pick it up early if you can is my advice, what
is $8 a year to the business?)
3. In my eyes .com.au and .com will still be popular in a few years, sure .anything
domains have come out but the market perception is already strong for .com and .com.au
David O'Donnell, Head of Search at Sumo Group thinks that "domains should be less about
SEO and more about branding. People are less likely to recall and indentify a .net or .biz
as a leading product / service than a .com or .com.au. Hyphens can take away from recall
and recognition in my opinion also.
To read the full discussions and have your say, follow the links in the video description
below or log on to savvysme.com.au
Now let's have a look at these week's top business contributors on our Savvy top 5.
Savvy Top 5
5. Kealey Nutt. Kealey is digital media producer and the director of my own small business,
called Eleven & Twelve. and recently published an article about: How to make good, effective
content. 4. Warren Harmer is a cultivator of great
small businesses a Crecer and shared his advice on a recent article " Are you selling what
people want?". 3. Gregory Ferrett is a Business and sales
leader, as well as author and blogger, who brings to life the science of human behaviour
and motivation. He frequently contributes to the Monday Motivational Movement publishign
articles such as: 12 seconds and 6 actions to establish rapport.
2. Peter Montgomery is Peter Montgomery is the creator and host of The Peter Montgomery
Show, a weekly web based interview show where he Interviews Influential Speakers, Entrepreneurs
and Authors. He recently interviewed Kurek Ashley, Success coach.
1. Anthony Khoury found of the small business mentor is dedicated to changing the lives
of business owners throughout Australia by providing simple and direct tactics that add
profits to their bottom line, quickly. He recently shared how to safeguard your business
through phone number names.