The Australian Small Business Blog

The Australian Small Business Blog

This Blog has been providing a Forum where Australian Small Business Owners can exchange Ideas old & new and get Advice from experts in Australia on how to Improve their Businesses through better Business Management, Planning & Strategy, Business Systems and Marketing Strategy and Systems for over 10 years. They will also learn about the Small Business Best Practice Benchmarks that are critical for their success. Our Ultimate Objective is to help Australian Small Business Owners take their Business to the Next Level and achieve their Goals whatever they may be.

Monday, December 14, 2020

2020 Top Small Business Articles of the Year


by Dr Greg Chapman


With 47 posts this year on the Australian Small Business Blog, it is now time to reveal the top post as ranked by Google for page views.

3. Lead Generation vs Sales Conversion – What’s Your Priority?  In this post Dr Greg Chapman reveals how to manage the tension between the need for leads vs sales.

2. How to Double Your Profit with the Five Profit Drivers What would a Marketing System for your business that produces predictable and controllable profits year after year look like?

Wednesday, December 09, 2020

Ad of the Year 2020


by Dr Greg Chapman


Each month over the past year, the Australian Small Business Blog has presented ads or items about advertising which illustrated specific strategies that are critical for success. Now, as voted by the number of views as recorded by Google, here are the top three ads of 2020.

3. Be Easy to Deal With Buyers may like your product, but prefer it to be delivered in different ways.

2. Social Distancing It's been a difficult year for business, but some have been more creative in how they stay connected.

Wednesday, December 02, 2020

Are Your Customers Cats or Dogs?



by Dr Greg Chapman




While our dog is getting on in years, and suffers from arthritis and is almost blind, there is nothing wrong with his sense of smell and he loves his food. If you give him top grade steak, or just plain dog food from the can, he gulps it down the same way he did when he was a puppy. He will eat what our cat doesn’t finish from her bowl. In fact if she throws any of it up, he will eat that too. He is just not that fussy. In fact the only thing we have found he won’t eat is Brussel sprouts. (I can’t say that I can blame him.)

Our cat on the other hand is very fussy.   More...
 

Tuesday, November 24, 2020

BREAKING: Top 10 Australian Small Business Blogs 2021!!









I think we are all glad that 2020 is just about over so I am pleased to announce that The Australian Small Business Blog has been voted as one of the Top 10 of Australian Small Business Blogs for 2021 by Small Business Loans Australia lender review site.

You can check out the other top blogs here.

Thanks guys for the recognition.

Dr Greg Chapman

Share this article: BREAKING: Top 10 Australian Small Business Blogs 2021

 

Monday, November 16, 2020

The Fifth Profit Driver – Increasing the Gross Profit per Sale



by Dr Greg Chapman


In an earlier article I described The Five Profit Drivers marketing system. The fifth of the Five Profit Drivers is Increasing the Gross Profit per Sale.

The easiest way to increase your Gross Profit per Sale is to increase your prices. The beauty about this strategy is that the increase in price goes straight to the bottom line. A mere 10% increase in prices will double the net profit of most businesses.

Of course the reason most businesses don’t increase their prices is because they are concerned about losing sales, and if you just increase your prices without any other marketing, you will.

So how do you increase your prices?

Tuesday, November 10, 2020

The Cost of Indecision



  by Dr Greg Chapman


Many years ago, when I was working in the corporate world, we had an operation that cost $200,000 per day. Due to the nature of this operation (exploration), unexpected results often occurred. If we decided to ‘sleep on it’ before we made a decision, this was a decision to spend $200,000.

How did we manage this?

Tuesday, November 03, 2020

Ad of the Month - Above the Fray


by Dr Greg Chapman


Is there a lot of noise in your marketplace? Are you above most of it, but there is maybe one competitor who you respect and is similarly annoyed by the noise.

In this ad for one race in the US election, the 2 major competitors have decided to stand apart from all the sniping, smears and lies of their peers.

Tuesday, October 27, 2020

Discover Your Secret Ingredient



by Dr Greg Chapman




Does your product or service have a special component that sets you apart? Is there a secret ingredient that will make people want to deal with you? That X factor?

There is a story of a famous chef in a five star French restaurant who never wrote down his recipes. Only he knew all the steps. While he had people assisting him in food preparation, each only knew some of the steps. His dishes were award winning, and no-one could copy them.   More...
 

Sunday, October 18, 2020

How Average are Your Salespeople?



  by Dr Greg Chapman


The best known secret is sales is that on average, most salespeople are average. How surprising is that?

I often hear business owners complaining that their sales staff aren’t paying their way. They can’t produce the same the results as the owner. On one level this is not surprising, as the owner has the greatest incentive, with the profits going to them.

Monday, October 12, 2020

The Fourth Profit Driver – Increasing the Number of Times a Customer Buys



by Dr Greg Chapman


In an earlier article I described The Five Profit Drivers marketing system. The fourth of the Five Profit Drivers is Increasing the Number of Times.a Customer Buys from You.

It is six times easier to sell to an existing customer than to sell to a new one, yet businesses spend more time finding new customers than going back to their exiting ones to see if there was something else with which they can help them. The best place to find gold is in a gold mine!

One business owner told me how a client they hadn’t heard from in 3 years had called him. The owner thanked them for contacting them again after all this time, but the enquirer had not realised they had used him before. It was just luck that this customer had called him again, but how many others had forgotten him and gone somewhere else?

Monday, October 05, 2020

Ad of the Month – Distractions


by Dr Greg Chapman


In this hyper connected world it’s all too easy to get distracted. The myth is multitasking, the reality is a string of uncompleted tasks. This service claims to allow you to keep track of those tasks even when you are distracted.

Monday, September 28, 2020

Why aren't Your Buyers Buying?



by Dr Greg Chapman




It’s a jungle out there. There are competitors everywhere. The Good, the Bad & the Ugly. You know what I mean? It is the survival of the fittest. And many survive by slashing their prices. Did you know that price is one of the last considerations in the buying process?

Surveys over the years have shown the top five reasons someone buys, are:   More...
 

Monday, September 21, 2020

Smashing the Link between Cost and Price



  by Dr Greg Chapman

Businesses often use simple formulas to calculate their prices. Usually  based on some on some mark-up, so in a store all items might be priced with a 60% mark-up on cost with the 60% covering wages, overhead, and hopefully profit.

In a businesses where prices are easy to compare, this practice is rife, but for more complex services or businesses which package their products in ways that can’t be compared, this restraint need no longer apply.

Monday, September 14, 2020

The Third Profit Driver – Increasing Average Value per Sale



by Dr Greg Chapman


In an earlier article I described The Five Profit Drivers marketing system. The third of the Five Profit Drivers is Increasing the Average Value per Sale.

When they ask: “Do you want fries with that?” McDonalds knows that about a third of their customers say yes. The marginal cost of the fries is small. Their overhead costs, which are quite considerable, the restaurant, staff and equipment have not changed because of this additional sale. The cost of the fries, the potatoes and packaging, is a small fraction of the selling price of the fries, so almost the whole price of the fries goes straight to the bottom line, all achieved by asking a simple question at the time they were making a sale.

Monday, September 07, 2020

Ad of the Month - The Elephant in the Room


by Dr Greg Chapman


What’s the biggest objection people have to purchasing any product or service in your category?

Does it work? Will it really save me time? Will it really save me money? Will it really make me money? Can I trust it? What if it breaks down? Is it really value for money?

What is the biggest objection in your industry? In the following ad, the question is data privacy.

Monday, August 31, 2020

Learn Your Lines and Double Your Sales



by Dr Greg Chapman




How well do you and your team deal with your current and potential customers? Do you leave contact with your customers to chance, or do you have a set, uniform approach, especially when dealing with enquiries from those who haven't dealt with your company before?

What questions are you asking? How do you respond when they ask “How much do you charge?” within seconds of opening the conversation? How are you keeping them engaged, even after the conversation has concluded?   More...
 

Monday, August 24, 2020

Why it’s a Mistake to Use Turnover as the Measure of Marketing Success



When most small business owners are asked what they want to achieve with their marketing, the answer is almost always is “More Sales”. To increase their Turnover. But that answer is too simplistic and can result in sub optimal outcomes especially when looking at the bottomline results. And the bottomline is your Net Profit. 
 
There are three key reasons to focus on Net Profit rather than Turnover.

Tuesday, August 18, 2020

The Second Profit Driver – Increasing Conversion to Sales



by Dr Greg Chapman


In an earlier article I described The Five Profit Drivers marketing system. The second of the Five Profit Drivers is Increasing Conversion to Sales. 
 
Sales should be considered as a process like any other key part of a business. It is in fact the most important part because without sales there is no business. This step in the Five Profit Driver Marketing Model converts the leads created with the first Profit Driver into sales. 
 
At this point in the marketing process, the prospect has called you, they have walked into your store, or you have the appointment with them. While the types of sales processes can appear quite different in different businesses, every sale goes through seven steps. For different businesses, some steps might appear to be almost missed, while in others, there might be a very long time spent within a single step.

Tuesday, August 11, 2020

Ad of the Month – Be Easy to Deal With


by Dr Greg Chapman


Ever noticed that some companies don’t want to talk with their customers and make it as difficult as possible to contact them, or force you to speak with an offshore call centre where English is not their first language? 
 
How refreshing then that this company lets you deal with them the way you want. In this ad we see two common preferences in contacting a business. One which would be the preferred option for younger people and the other for the older generation.

Tuesday, August 04, 2020

Provide a Taste Test



by Dr Greg Chapman




There can be many reasons why people don't buy. But probably the biggest is that they don't have confidence that a business will deliver. That the service will be as promised, or the product will actually work.

When people make a purchase decision, they take a decision to change their life in some way. They have actually survived their whole life without buying from you, and now you are asking them to change.

They may already have another supplier of your products and services, which while they may not be fantastic, they do the job. Or they have lived up to now, with the problem you want to fix. So if they buy from you, they will have to change.   More...
 

THE AUSTRALIAN SMALL BUSINESS BLOG IN TOP 100 GLOBALLY

Awarded Top 100 Small Business Blog

Award from Feedspot, the international RSS blog syndicator.

Featured Book

Dr. Greg Chapman is also the author of
The 5 Pillars of Guaranteed Business Success

The Five Pillars of Guaranteed Business Success

Facebook

Twitter

LinkedIn

Goggle Plus

Atom Feed