Operational, financial, risk management and compliance, this Small Business Victoria presentation covers various areas of your business to help you streamline and make more profit.
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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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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 systems
You 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
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
Complete the checklist on page 10
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Measure and monitor your customer service
‘mystery shoppers’
surveys and feedback forms
analysing customer records and sales
Customer Service
Developing and implementing…
Let’s look at some examples on page 11
What you need to do…
Complete two action items on page 12
Transfer these to your action plan on page 93
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Staff Management and Training
Benefits:
staff understand expectations and take responsibility
increased efficiency and productivity
increased time
reduced turnover
Assess your current staff management
Complete the checklist on page 15
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Measure and monitor your staff management and
training
performance reviews
customer service
staff productivity
Staff Management and Training
Developing and implementing…
Let’s look at some examples on page 16
What you need to do…
Complete two action items on page 17
Transfer these to your action plan on page 93
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Measuring and monitoring your business
relationships
regularly review against expectations
Business Relationships
Developing and implementing…
Let’s look at some examples on page 21
What you need to do…
Complete two action items on page 22
Transfer these to your action plan on page 93
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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
Environmental and Sustainability
Assessing your current environmental and
sustainability practices
Complete the checklist on page 25
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Measuring and monitoring your environmental and
sustainability practices
set targets, report, review
accreditation, business awards
Environmental and Sustainability
Developing and implementing…
Let’s look at some examples on page 26
What you need to do…
Complete two action items on page 27
Transfer these to your action plan on page 93
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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
Complete the checklist on page 30
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Measuring and monitoring your business technology
use technology such as analytics
only useful if kept up to date
Business Technology
Developing and implementing…
Let’s look at some examples on page 31
What you need to do…
Complete two action items on page 32
Transfer these to your action plan on page 93
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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
Continuous Improvement & Innovation
Assessing your current innovation and
continuous improvement practices
Complete the checklist on page 35
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Monitoring and measuring your innovation and
continuous improvement practices
Review regularly
Consider reward system
Continuous Improvement & Innovation
Developing and implementing…
Let’s look at some examples on page 37
What you need to do…
Complete two action items on page 38
Transfer these to your action plan on page 93
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Measuring and monitoring your occupational
health & safety practices
staff feedback, track incidents
WorkSafe review
fire safety inspection
Occupational Health & Safety
Developing and implementing…
Let’s look at some examples on page 42
What you need to do…
Complete two action items on page 43
Transfer these to your action plan on page 94
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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
Complete the checklist on page 46
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Measuring and monitoring your record keeping
and reporting
Meeting compliance requirements
Making informed decisions on accurate and timely
information
Record Keeping and Reporting
Developing and implementing…
Let’s look at some examples on page 47
What you need to do…
Complete two action items on page 48
Transfer these to your action plan on page 93
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Planning Business Finances
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
Complete the checklist on page 51
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Measuring and monitoring your planning of
business finances
success of projects and financial position
Planning Business Finances
Developing and implementing…
Let’s look at some examples on page 52
What you need to do…
Complete two action items on page 53
Transfer these to your action plan on page 94
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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 business
Assessing your current management of risk
Complete the checklist on page 56
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Measuring and monitoring your management of risk
will be obvious
regularly review risk management plan
Managing Risk
Developing and implementing…
Let’s look at some examples on page 57
What you need to do…..
Complete two action items on page 58
Transfer these to your action plan on page 93
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Continuity Planning & Disaster Recovery
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
Complete the checklist on page 61
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Measuring and monitoring your continuity planning and disaster
recovery
Snap drills, dry runs
Contingency checklist
Continuity Planning & Disaster Recovery
Developing and implementing…
Let’s look at some examples on page 62
What you need to do….
Complete two action items on page 63
Transfer these to your action plan on page 93
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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
