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Take the time to assess each day what is important to YOU

MARCH IS - Jump to Cure Diabetes - is the ultimate challenge - and a great way to raise funds for type 1 diabetes research. A tandem skydive is the easiest way to experience the thrill of jumping out of a plane, while you make a big difference to JDRF and medical research.

Hope you enjoy this issue of ba.sically business

Sharon

BUSINESS INSIGHTS Competition forces us to improve our business by developing better productivity, better products, better services and lower costs, and understanding what your competitors offer, and their place in the market is very important.

Creating an honest definition of your specific industry niche will provide the necessary information to determine what keywords you should really be chasing when undertaking research on your competition. Through collecting and analysing information about your market, including your customers and competitors you will can be prepared for changing markets and prevent your business being left behind by the competition.

Growing your business without understanding your competitors is risky.

Analyse what your competitors do better than you:

Are their prices lower?
Are their products of a higher quality?
Is their customer service highly regarded?
Is their marketing material more engaging?

Ask yourself these questions to see where you can improve. Being critical of your own business and taking inspiration from your competitors can help you be more competitive.

ENTREPRENEUR REVIEW - This month Karen Hillen shares some things about herself and her business.

Business name - Hillen Staff Solutions

Website Hillen Staff Solutions

How did the business originate? After getting a redundancy I wanted to help small business with their HR issues

How long have you been in this business? 4 years

What do you love about your business? Flexability, educating and making a difference to small business love the creative side and the relationships with our clients. We can turn a bad day into someone feeling fabulous.

Is there anything you dislike? Not really

Favourite food: Seafood

Favourite colour: Blue

Favourite drink: GH Mumm champagne

Favourite movie: Good Will Hunting, The Wedding Singer, The Blind Side

Favourite time of the day: Morning, but not too early!

Favourite item in your office: iPad

Favourite app on your phone/tablet/computer: Receipt Bank

What book are you reading right now? Emotional Intelligence by Daniel Goleman

Which 3 people (dead or alive) would you invite to a dinner party? Why? My husband and my two best friends, they are the people I like to spend time with the most.

Name 3 things on your bucket list: Go back to Paris, to South Africa and to Uluru

What do you like to do for yourself? Spend time with family and friends, beach, footy, live music.

Who do you seek advice from? Steve Dixon of Breakthrough4Business, my colleagues in my BNI Chapter

What advice would you give to someone thinking of starting their own business? Research, plan, network, dont be put off by people who may not think it is a good idea.

What is your tip for a work/life balance? Make the life part of work/life priority and enjoy yourself.

Apple / Android: Apple

Beach / Bush: Beach

APP REVIEW - Blogging has shown to be one of the best resources your business has.

A blog drives traffic to your website, it shows you as an authority in your field and it can drive long term results.

But even the most honest blogger may fall into plagiarising content accidentally.

So as a precaution you can use a plagiarism checker. There are a few great plagiarism checkers online, both free and paid including Grammarly, Copyscape and Plagscan. They are a great tool and while they may take a while to analyse content, especially for articles that are longer than average it will save you heartache in the long run.

SMALL BIZ TIP - A credit policy is important for your business in that it provides clear guidelines for you and your customers (and you and your suppliers) at the beginning of your relationship. When you can show that you are serious about financial management you will have less chance of having to chase those bad debts.

The Competition and Consumer Act 2010 applies in online and shopfront situations. These policies are covered under state and federal laws. This will include any warranties and refunds. Your state or territory fair trading office can also provide advice on business rights and obligations under fair trading laws.

Ensure that your invoices and statements outline your terms clearly.

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EVENTS WORTH NOTING THIS MONTH INCLUDE:

the Fishbowl - we have a FREE morning function on 24 March collaborating with Small Biz Connect Illawarra - info and tickets are here

business.gov.au - has a range of information available to assist start ups as well as with reviewing your business and planning for the next step.