Prepared by Rod Richards Richards Consulting © Richards Consulting Pty.Ltd TOP 10 EASILY IMPLEMENTED TIPS

DISCLAIMER This presentation contains general information and may constitute general advice. Its preparation has not taken into account any person’s business situation or individual needs. It should not be relied upon as a substitute for financial or other specialist advice. Before making any decisions on the basis of this presentation, you should consider, with or without advice, the appropriateness of the contents of this presentation in light of your business situation or individual needs. Opinions expressed constitute our judgment at the time of issue and are subject to change. No responsibility is taken for persons acting on the information provided. Persons doing so, do so at their own risk. Richards Consulting Pty.Ltd A.C.N

TIP NUMBER 10 GROWTH BARRIERS Time Management Change Lack of demand Cash flow Business skills

TIP NUMBER 9 PLANNING Marketing Online/ offline strategies Operations ( Turn Key) Financial planning/ budgets Risk Mitigation strategies Succession Planning

TIP NUMBER 8 THE INNER CIRCLE These people are not your staff They are successful people Their support can be relied on when needed They are well respected in the community They are solutions focused They are trusted colleagues Proven track record You don’t have to do everything on your own.

TIP NUMBER 7 LOGICAL AND INFORMED DECISIONS Everything we undertake in business is numbers – related Base your decisions on factual information Undertake formal and informal research ( OESR, ABS, IBIS) Enthusiasm and motivation are not enough Undertake financial modelling before investing into the new venture Discuss the new venture with your accountant and business lawyer

TIP NUMBER 6 THE VALUE OF MARKETING In good economic times – the budget gets cut In bad economic times – the budget gets cut There is not enough value placed on one of the most important areas of the business. It is rare for me to see a fully costed marketing plan It is rare for me to see a marketing planner for the next 12 months Online and Offline strategies

TIP NUMBER 5 SKILLS Compliance Business acumen/ strategy LeadershipEntrepreneurial Planning and organization Financial Management Marketing

TIP NUMBER 4 CHANGE In his best selling book “ who moved my cheese” by Spencer Johnson “ if you don’t change, you will become extinct” If we change nothing, nothing changes. We need to adapt to an ever changing environment We need to embrace change and look for new opportunities Step out of your business and have a good look at what needs to change We need to challenge our thinking and challenge the way we conduct business Plato said : the beginning in the most important part of any work”

TIP NUMBER 3 INNOVATION It means to improve, advance and modernize the areas in your business. Business operating systems and platforms Social media – Facebook Digital business – integrated digital marketing platforms Communication advancements How are we reaching our markets through embracing technology? If we don’t embrace change and don’t innovate our business models, what will our businesses look like in 5 years time. Look at the Retail Industry.

TIP NUMBER 2 FOCUS AND DIRECTION Clearly defined goals / outcome focussed Clear time frames Personal, business and financial goals Determination Self – disciplined

TIP NUMBER 1 REPUTATION I believe that to be a successful business, I would need to have the following qualitative attributes: Integrity Trust Honesty Reputation Reliable It wouldn’t matter how good my products and services are, if I don’t have these I don’t believe I am successful.

SUMMARY MY TOP 10 TIPS 1.Reputation 2.Focus and Direction 3.Innovation 4.Change 5.Skills 6.The value of Marketing 7.Logical and informed decisions 8.The inner circle 9.Planning 10.Growth barriers © Richards Consulting Pty.Ltd

CONCLUSION Vince Lombadi was the American NFL coach who achieved the greatest success in getting the Green Bay Packers to 4 titles in 7 years. “ Success - The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves at hand” What do you want to achieve in your lives? Rod Richards Author and Business Consultant