Better Business Practices workshop

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Welcome

Introduction to seminar

What do you hope to learn in the next two hours:

Burning issues?

Topics of interest?

Opportunity to network

Have fun!

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Learning Outcomes

A practical plan to implement Better Business Practices

Covering the following areas:- Operational

- Financial- Risk Management

- Compliance

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Better Business Practices

Implementing Better Business Practices will free up time and resources so you have more time to work on:

clarifying business purpose

planning and strategy development

market identification, measurement and product development

developing your team and their collective skills

innovation and improvement

financial planning and investment Page 1

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Workbook – Business Practices

A checklist for you to assess your current business practices

An information table that provides practical examples for implementation of improved business practices

An action plan that you can complete for your own business to improve your business practices Additional reference information

On page 94 an action plan for you to complete

Spare templates for each business practice and additional tools

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What is Your Business?

Remember when you started your business?

Why did you go into business?

Are you really doing what you wanted to do?

What does a coffee shop do?

What is your business really?

Complete the table on page 2

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Where to Now?

How is your business currently operating?

Where would you like it to be?6 months

12 months

3 Years

Begin a one page plan

Complete the plan on page 3

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Operational Activities

Business systems

Customer service

Staff management and training

Business relationships

Environmental and sustainability

Business technology

Innovation and continuous improvement

Occupational health and safetyPage 4

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Business Systems

Computers are only one part of business systems

What other business systems can you think of?

Systemising your business helps prioritise activities and saves time

Business growth will benefit from business systems

Page 4

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Business Systems

Benefits: Higher productivity from staff

Increased customer service

Increased profitability

Greater control over the flow of information

Better time and cost management

Transparency over business processes

Assess your current business systems

Complete the checklist on page 5

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Measuring the effectiveness of business systemsYou will know it!

Business Systems

Developing and implementing…

Let’s look at some examples on page 6

What you need to do…

Complete two action items on page 7

Transfer these to your action plan on page 93

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Customer Service

Every business needs customers

entice customers to return and refer

develop a consistent and professional approach

your customers become partners in your business growth

Page 9

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Customer Service

Benefits: increased sales, increase profitability

repeat and referral business

reduced costs and increased efficiency

staff gain a sense of pride

more difficult for your competitors

consolidate your business reputation

Assess your current customer service


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Measure and monitor your customer service ‘mystery shoppers’ surveys and feedback forms analysing customer records and sales

Customer Service






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Staff Management and Training

Right skills and attitude

Good management starts with the owner

Page 14

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Benefits: staff understand expectations and take responsibility

increased efficiency and productivity

increased time

reduced turnover

Assess your current staff management


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Measure and monitor your staff management and training

performance reviewscustomer servicestaff productivity







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Business Relationships

Extremely valuable

Leverage knowledge, advice and support

Includes:CustomersSuppliersAdvisorsBusiness ownersIndustry associations

Page 19

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Benefits: customer will tell you what they want

understanding new developments in your market

provide financial assistance and guidance

sharing ideas

Assess your current business relationships


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Measuring and monitoring your business relationships

regularly review against expectations







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Environmental and Sustainability

Growing awareness amongst business and consumers

Business sustainability: staying in business through measures to reduce our costs and our environmental impacts

Page 24

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Benefits: identification and reduction of ‘waste’

cost efficiencies

reuse and recycle

attraction, retention of customers and employees

reduced environmental impact

increase community involvement


Assessing your current environmental and sustainability practices


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Measuring and monitoring your environmental and sustainability practices

set targets, report, reviewaccreditation, business awards







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Business Technology

Extend the reach of your business

Technology - wide and varied

Easy to keep up to date with technology – podcasts, iTunes etc.

Page 29

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Benefits: more effective communication

improve visibility

extend reach into new markets

integration of systems and processes

increase productivity

cost effective marketing

better management and storing of data

Business Technology

Assessing your current business technology


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Measuring and monitoring your business technology

use technology such as analytics

only useful if kept up to date

Business Technology






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Continuous Improvement & Innovation

Continuous improvement is about small changes

Innovation is strategic changes to stay successful

Implement solutions

Analyse process

Identify needs

Refer to page 34

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Benefits: Increased competitiveness

More efficient use of all resources

Improved staff retention

Proactive approach to business

Attracting new customers

Less need for large-scale quantum shifts


Assessing your current innovation and continuous improvement practices


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Monitoring and measuring your innovation and continuous improvement practices

Review regularlyConsider reward system







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Occupational Health & Safety

Each year, nearly 150,000 Australians are injured, sick or die due to their work

Making the workplace safer for everyone

Page 40

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Benefits: Understanding your responsibilities

Preventing injuries or death

Reduced costs


Assessing your current occupational health & safety practices


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Measuring and monitoring your occupational health & safety practices

staff feedback, track incidentsWorkSafe reviewfire safety inspection







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Financial Activities

Financial record keeping and reporting

Planning business finances

Page 45

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Record Keeping and Reporting

Money for the day-to-day operations

Grow your business

Improve:Operational activities

Profitability

Cashflow

Business performance

Page 45

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Record keeping and Reporting

Benefits: saves time

creates accurate reports

meets compliance requirements

details what is spent

shows where you are making money

provides information on financial performance

focuses on the important financial aspects

Assessing your current record keeping and reporting


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Measuring and monitoring your record keeping and reporting

Meeting compliance requirementsMaking informed decisions on accurate and timely information

Record Keeping and Reporting






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Planning Business Finances

Financial position must support business plans

Planning business financeBudgets

Forecasts

Measuring financial performance

Page 50

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Benefits: gaining competitive advantage

managing during changing trading conditions

improving creditability with business partners

identifying problems before they occur

allocating business resources to plans and projects

supporting goals and plans

Assessing your current planning of business finances


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Measuring and monitoring your planning of business finances

success of projects and financial position







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Risk Management

Managing Risk

Continuity Planning and Disaster Recovery

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Managing Risk

Unplanned events can pose risks to your business

Snap decisions lead to poor outcomes

Protects business wealth

Page 55

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Managing Risk

Benefits: increase in efficiency and productivity

clarity on how your business performance impacts on your business practices

enhanced offer to your customers

strong internal controls

improved relationships

protects the long-term sustainability of your businessAssessing your current management of risk


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Measuring and monitoring your management of risk will be obvious

regularly review risk management plan

Managing Risk



What you need to do…..



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Continuity Planning & Disaster Recovery

Return to business operations quickly

Documenting what actions to take

Good resilience planning

Page 60

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Benefits: safeguard key assets and information

employees know what is expected during crisis

provide ways to improve your business

business partners know you take your business seriously

significantly reduce your loss if a crisis does occur

potentially reduce insurance premiums

Assessing your current continuity planning and disaster recovery


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Measuring and monitoring your continuity planning and disaster recovery

Snap drills, dry runsContingency checklist




What you need to do….



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The Action Plan

Now let’s look at your action plan on page 93

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Business Compliance

Legal requirements……….page 66

Insurance…………………..page 66

Taxation details……………page 67

Contract details……………page 67

List of authorities………….pages 68-69

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Better Business Practices

Is:Best example of continuous improvement for

your business!

Will:Ensure you meet your strategic objectives!

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List 3 actions you will follow through with as a result of this

workshop

Then…

List 3 things that you’ve learned in this seminar

List 3 actions you will follow through with as a result of this seminar

List 3 things that you’ve learned in this seminar

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Small Business Mentoring Service

Business mentors help you to identify a clear direction for you and your business.

Business mentors can also advise you on how to:

conduct market research

price and/or cost your products or services

develop an effective marketing strategy

use other business management tools

To arrange a session with a business mentor go to:

www.sbms.org.au

http://www.sbms.org.au/

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Questions?

Thank you for attending

Visitbusiness.vic.gov.au/events

for more workshop information