Posted on

Marketing for When Your Business Strategy Changes

Where lead generation services are useful

lead generation services
Using a dedicated lead generation service can be more useful than advertising but the quality of the leads may be questionable.

CHANGING YOUR BUSINESS STRATEGY to include additional services will require an additional investment in marketing if you are to make this successful. In terms of simply paying money to advertise your additional services, as you’re probably already aware, advertising doesn’t always yield immediate results. Therefore you might consider spending money on a lead generation service.

We cover how to account for marketing and lead generation costs in our Xero training courses, which includes a new workbook that looks at what to do when your business strategy changes. Continue reading Marketing for When Your Business Strategy Changes

Posted on

Online Training: A Cost Effective Way to Train and Motivate Your Staff

Take an online course to build will AND skill

online training for staff morale
It’s a real buzz when you learn something new: a great way to up-skill your staff members and keep people interested at work is to provide them with online training course material.

OUR MYOB TRAINING COURSE is basically an induction into the role of a bookkeeper, in that it provides students with an overview of the duties typically carried out by a bookkeeper. Most of our students take our MYOB training course because they both want, and need, to know how to use the software in order to find work as a bookkeeper.

In the world of business training and coaching, this is called the Will versus Skill Matrix. Employees who have both the will to succeed and the skill to succeed are highly desirable in the workplace.

Transparency, will and skill

Employees who have only one of those attributes, however, are less desirable. Helping staff maintain both the will and the skill to succeed in their jobs has a lot to do with how transparent you are as an organisation.

We’ve mentioned transparency in business before, notably in relation to induction training programs. Induction training programs are a highly efficient way to communicate easily and efficiently with your staff, while also testing their will and skill to succeed at their jobs.

While most induction training programs are used to merely address the requirements of the Work Health and Safety Act, or to induct contractors and consultants to a business’ premises, induction training programs can also be used to further your employees’ professional development.

Help your staff upskill with a Word or Excel course

Furthering your employees’ professional development can be done by providing your staff with online training courses that are relevant and useful to their jobs, such as a Word or Excel training course. You’ll be surprised how many tasks can be done with these software applications — and therefore how empowering this knowledge becomes!

boosting staff morale with online training courseOnline delivery of this content allows your staff to complete the course at their own pace, in an informal environment — at home or at their desk at work, rather than in a dedicated training centre on a dedicated day — and it also allows you to monitor their progress.

Being able to see how your employees are getting on with the training courses can illuminate areas where your staff could benefit from further training; it can also highlight those staff member who possess the will and the skill to succeed.

Those staff members who are have both the will and the skill to succeed in their jobs also happen to be highly engaged, and as we mentioned in a previous post, more productive.

***

If you’re looking for ways to keep your staff highly engaged with your business, we can help you tailor and deliver highly engaging induction training courses to your staff. Visit our website for more information, or contact us today for a quote.


learn xero online training course videosAt EzyLearn you can choose from a range of XERO online courses, depending on your skill level — or you can access ALL courses for ONE LOW PRICE. All our courses are accredited by the Institute of Certified Bookkeepers (ICB) and can be counted towards Continuing Professional Development (CPD) points. Find out more about our Xero online training courses. 


 

 

Posted on 1 Comment

Thinking of Starting a Second Business? Introducing Jerry

Case Study: Costs for starting up a second, related business

microsoft excel starting a second business
Contemplating starting a second business, related in some way to your first? Excel can help you forecast start up costs.

A LOT OF BUSINESS OWNERS branch out into related fields when their flagship business becomes successful enough (just look at Jim’s Mowing). However, this can be a bit dicey if the business owner doesn’t properly forecast all the start up costs. Not doing so can not only have an adverse impact on the new venture, but also on the existing business.

In this case study, we’re going to look at the start up costs associated with starting a real estate sales business. With real estate licencing laws changing and digital marketing available to everyone the ability to start your own business and work at home is now very realistic. Continue reading Thinking of Starting a Second Business? Introducing Jerry

Posted on 1 Comment

End of Financial Year: Writing Off Stock

We show you how to write off stock and inventory before the EOFY

how to write off stock before eofy in xero myob
Do you know how to make inventory adjustments? Our Xero and MYOB BAS and GST Reporting courses can show you how.

IT’S A GOOD TIME TO START  looking at any slow-moving or obsolete stock that your business (or your client’s business) may be holding, as we’ve reached the end of Quarter 3 and have now started Quarter 4 for the 2016/17 financial year — which means the end of the financial year is fast approaching.

Writing off stock in MYOB or Xero is known as making an inventory adjustment, and our MYOB BAS Reporting and GST or Xero GST, Reporting and BAS training courses take you through the steps to do this. But first, you need to identify which items aren’t selling. We’ve created this case study to help you understand how.

Understanding your inventory’s performance

Every business needs to understand how their inventory is performing, and how it impacts their business. If the business owner is too busy to stay on top of this, then they should employ a bookkeeper to help.

A good example of why understanding inventory is important to a business is to look at an air conditioning company. This business makes money two ways:

  1. Selling air conditioning units
  2. Installing / maintaining air conditioning units

The margin on the sale of an air conditioning unit is not much, a few percent on top of the wholesale price. Where the business makes its money is in the installation or maintenance of the units it sells.

The business purchases three dozen units, of varying brands, models, price points, etcetera. It now needs to know which units are most popular with customers and why; which units aren’t popular with customers and why; whether it’s profitable for the business to continue to stock the unpopular units; or, conversely, whether it’s profitable for the business to continue stocking the popular units.

Inventory reporting

The business’s bookkeeper regularly runs a number of reports in their accounting software, including profit and loss reports and stock-on-hand reports. These reports are used to identify which units sell quickly, as well as the units that take longer to sell, and the profit margins on each.

The units that sell quickly don’t require a technician to install them. Although they’re responsible for the majority of sales, they don’t generate more revenue for the business. The units that sell slowly, do generate more revenue as they require installation and maintenance, however too many units were ordered and they’ve now been discontinued by the manufacturer. Some units have hardly sold, and, although not discontinued, have been superseded by newer models.

Stock write offs and future orders

Because the bookkeeper regularly runs these reports, s/he has been able to export them into Excel for further analysis. By the end of Q3, the bookkeeper can make suggestions to the business owner about the future of the business.

In particular, the bookkeeper suggests that the units that have been superseded are marked down to clear as much stock as possible, and cease any new orders. Likewise, the discontinued models will be marked down.

Orders for the units that replaced the discontinued models will halve the order volume. Likewise, order volumes for the top selling units will reduced. The profit margin on these units is very low and they result in no additional revenue from installation or maintenance. The profit that would be earned on the additional units is negligible, however by reducing the unit volumes, the business improves its cash flow.

Act NOW for EOFY

If your business sells stock or a combination of stock and services, like the air conditioning business does above, start looking at your inventory now. Markdown any slow-moving stock at the end of Q3, to give your business time to move the remainder of it. If it doesn’t sell, write it off at EOFY.

***

Our MYOB and Xero training courses have recently been updated to include a workbook on how to write off inventory. Learn more about our MYOB BAS Reporting and GST or Xero GST, Reporting and BAS training courses at our website.


find a local bookkeeper

We feature our own online directory of local bookkeepers looking to add to their customers. Visit National Bookkeeping to find a suitable and experienced person available to work in your area, or able to work anywhere in the cloud. Alternatively, if you are a bookkeeper looking to expand your client list or find contract work, you can register and become part of our network for free


 

Posted on 5 Comments

Performing Weekly Reconciliations in Xero

Why it Pays to do Regular Bank Reconciliations

bank reconciliations weekly
Doing regular weekly bank reconciliations will help avoid confusion or errors later on.

In our Xero Bank Reconciliations and Journal Entries Course, you’ll learn how to carry out each step in the reconciliation process, in particular how to set up bank feeds. Bank feeds are an important function that allows transactions on your linked bank account or credit card to automatically show up in Xero, so you (or your bookkeeper) don’t have to spend time entering the details from scratch.

Both contract bookkeepers working from home or employees working remotely or in the office can log in and perform bank recs using bank feed data. Continue reading Performing Weekly Reconciliations in Xero

Posted on

Working Out Job Costs and How to Charge Your Clients

Why You’re Underselling Yourself with Fixed Price Quotes

bookkeepers fixed price quotes
There are many reasons why you may lose out when fixed price quoting.

I’ve written a number of blogs on how bookkeepers can work out their fees and what good local bookkeepers generally charge. However, now we examine the nitty gritty of determining your on-the-job costs so you can clearly see what your hourly rate should be.

When it comes to working out fees, most business owners go: “Well, the average market rate for my profession is X per hour and this job should take around Y hours” and off they go and give their client a quote that, in today’s small business parlance, is frequently referred to as being a fixed-price quote or the project fee.

This would be fine except that you’re essentially working on an hourly rate, without the benefit of being able to charge the client if you run over your allocated timeframe. Continue reading Working Out Job Costs and How to Charge Your Clients

Posted on

What Bookkeepers Can Learn From Real Estate Agents: Facebook Advertising

Facebook – Great for Local Marketing

using facebook for bookkeeping marketing
Facebook can be extremely useful for marketing to a local audience.

In its decade of existence, Facebook has built up a wealth of data about its users, data that it likes to sell back to those who need it, in the form of targeted advertising. Facebook advertising, though similar in its approach, is very different to Google Ads in what it delivers.

Real estate agents discovered the value of Facebook advertising early, and have used a combination of images and videos to successfully deliver their marketing messages and sale pitches directly to their target market and in order to set their prices. Continue reading What Bookkeepers Can Learn From Real Estate Agents: Facebook Advertising

Posted on 1 Comment

What Bookkeepers Can Learn From Real Estate Agents: Using Video and Images

Focusing on Education Rather than Sales

how bookkeepers can use videoTHE INTERNET HAS CHANGED the way businesses market their services to prospects, from a simple sales message to an educational one.

Real estate agents caught onto this shift in buyer trends early and started creating online content to cater to these buyers.

Visit the website of any real estate agent and you’ll find lots of images and videos educating potential buyers about their services, previous sales and the local area they represent.

Continue reading What Bookkeepers Can Learn From Real Estate Agents: Using Video and Images

Posted on 1 Comment

What Bookkeepers Can Learn From Real Estate Agents: Sales Pitches

Never Fear: A “Sales” Pitch Can Really Just Be a Conversation

bookkeeping sales pitch
You actually don’t need to be ‘salesy’ at all; just find out how your services match another person’s needs.

After you’ve set the correct prices for your bookkeeping services, it’s time to perfect your sales pitch. It’s good to think about the way real estate agents sell a property to prospective buyers: Good sales agents don’t pitch to the buyer at all. Instead, they get to know the buyer and their needs.

If that happens to suit the property they’re selling, they tell them so. If it doesn’t they tell them that too. Often, they’ll mention another listing they have that might better suit the buyer.

Continue reading What Bookkeepers Can Learn From Real Estate Agents: Sales Pitches

Posted on 3 Comments

What Bookkeepers Can Learn From Real Estate Agents: Setting Prices

Don’t Reinvent the Wheel: Glean Relevant Info from the Property Industry

how much to charge as a bookkeeper
As a bookkeeper you can learn much from the humble, or not so humble, real estate agent!

As a bookkeeper, or someone thinking about becoming a bookkeeper, you may be surprised how much you can learn from real estate agents. For an example, take the way a real estate agent has to price a property for sale.

The key to selling a property quickly and efficiently, is setting the right price. A real estate agent who sets a price that’s too high for the market, isn’t doing her or his job properly. In such cases, the property will sit around for many weeks, or possibly even months, until the price is eventually reduced to one the market will bear, sometimes to well below market value.

Continue reading What Bookkeepers Can Learn From Real Estate Agents: Setting Prices

Posted on 1 Comment

Announcement: Social Media Marketing Course

EzyLearn Social Media & Digital Marketing Training Course logo image only

Social Media Marketing Course for 2017

EzyLearn Social Media & Digital Marketing Training Course logo image onlyDigital marketing is one of those fine arts that sometimes takes many attempts to get right and I’m guilty of that myself. I wrote a couple blogs recently about content marketing because I spend a lot of my time creating and modifying strategies, optimising and planning the content that my team creates for EzyLearn and other websites. However, I think many people are unfamiliar with what the term “content marketing” means — my mistake! I should have used the words that most small businesses associate with online and digital marketing: “SOCIAL MEDIA”!

Social Media Course — We Include EVERYTHING

So, now that I know social media is the keyword, I’m going to explain how every course we offer ties into your Facebook advertising and Facebook Page and why all of these aspects are important to you if you are going to spend more time and money building a strong online brand.

Content Marketing

virion and 123ezy social media course and content marketing catalogue No matter who you are or what you do you will need content and you will use that content to promote you and the services you provide. I have been using all of these tools to help convert EzyLearn into an “online only” training company in 2006 but I was able to explore how to provide these services to real estate agents when I managed the social media strategy for Derek Farmer, a real estate agent in Cammeray at the time. Here are the content options we had to play with:

Photographs and Images

Images are used in Instagram, Facebook, Linkedin and on your blog (if you have one). They are used to make a blog easier to read and in industries like real estate where good photography is important to get a high price and make a successful sale they are used to showcase the product being sold. I recently spoke to an asbestos removal company and photographs of what they do and how they do it are also an important part of their “content”.

We show you how to include images in blogs and even include fundamental image editing skills using GIMP (it’s very powerful and it’s free!)

Video Marketing

property marketing, video marketing, Facebook Page, Facebook Ads, Youtube and video marketingEzyLearn has several hundred videos as part of our online training courses and sometimes we use them to give prospective students examples of our training, explanations about how our special offers work or even videos of me explaining the EzyLearn journey since the late 1990’s! Real estate agents like Derek Farmer use video to help educate property sellers about the various aspects of the property selling process and what to look out for.

We show you how to get your video up to YouTube, or more professional services like Wistia and show you the analytics you can get about your video viewers and how to make a better video next time — it’s all about drop off rates. We also show you how to get a Call-To-Action within the video itself.

Blog Marketing

Blog marketing is my personal favourite because I love writing; you can really play with the keywords that Google loves so much and you can fill a website up with content that shows you are active.

We teach you how to create a website, create web pages AND blog posts, how to optimise them for the keywords you want to be discovered for and how to measure and understand the visitor analytics.

Facebook Pages, Timeline Posts, Advertising and Remarketing

This is the one that EVERYONE is interested in and for good reason; the demographic targeting is fantastic. Facebook is becoming increasingly important for real estate agents to promote themselves — indeed, Social Estate and BuddyBid are just two companies getting in early to earn a couple of hundred dollars a month for each real estate agent they take on board.

Note: This is something that any work at home mum (or dad) can do! You just need to understand how to generate new content or “republish” other interesting content on a Facebook Timeline and how to create a Facebook Ad. We cover all of this in our Social Media Marketing Course.

Facebook Pages

Our written guide and training course videos show you how to set up a Facebook Page for a local business (ideal for tradies, service providers like accountants or bookkeeper and of course real estate agents). By using a Facebook page you can assign the administration of that page to someone who simply schedules posts — that someone can be YOU.

Most people with a Facebook Page then need to make sure their Timeline is filled with content so that they pop up regularly in local news feeds.

Feeding Your Facebook Timeline

Real Estate Agent Facebook Page, timeline posts and ads help property and brand marketingMost people think it’s important to create a Facebook post every day but that’s hard to do if you need to generate original content. Instead most people re-post other content that is relevant to the audience — this is often referred to as curated content (for instance, where you make a comment or affirm your belief in an article).

Real estate agents often simply refer to the plethora of real estate blogs available and here are some examples used by David Howe, an honest and diligent McGrath agent in Northbridge, Sydney, who asked our designer team to create a website for him:

  • http://www.smartpropertyinvestment.com.au/how-to-maximise-profit-without-it-costing-you-a-cent
  • http://www.dailytelegraph.com.au/lifestyle/food/sydney-taste/sydney-eat-street-10-things-to-try-in-crows-nest/news-story/
  • http://www.apimagazine.com.au/2016/11/debt-retirement-worries-high/
  • https://www.buzzfeed.com/markdistefano/too-real-estate
  • http://www.homestolove.com.au/how-to-design-the-perfect-laundry-4236
  • http://blog.templeandwebster.com.au/work-the-trend-the-new-natural/
  • http://www.afr.com/real-estate/residential/dont-want-to-move-want-a-reno-architecture-awards-show-how-to-do-it-20161104-gshwue
  • http://davidhowe.com.au/david-howe-real-estate-agent-northbridge/

This method of posting other people’s content is good enough to show that your Facebook Page is active. However, from an internet marketing perspective it tends to send people away from your Page and onto other websites where your competitors might advertise — especially if you report material by ratemyagent, openagent, realestate.com.au or domain!

In our social media marketing course we show you how to make a post like this and schedule them all in advance but also how to get your own unique content and how to link to content where none of your competitors are listed.

Facebook Advertising

Facebook Ad Views for individual property advertisement - Clarence TownFacebook ads are relatively simple to create so there is NO reason to get someone else to do them (particularly if they’re going to charge you the equivalent of 4 hours’ labour!). The key elements of a Facebook Ad are their structure: Campaigns, Adsets, then individual ads and once you get that right and understand how it works, creating a Facebook Ad can be done by someone in your office or who you trust (again, a work at home mum).

We show you the type of posts and ads that Derek Farmer paid to promote in his local area, why he chose to do it, how much he paid and what his viewer and reader statistics were. We’ll also show you how to advertise to your own client base in their Facebook Feeds and how to remarket to people who’ve been to your website or Facebook Page.

WordPress, Hosting, User Management etc

I believe that your own website is the best “landing page” for any marketing money spent because YOU OWN IT. The more traffic you direct to your own website and the more content you put there that is valuable to your customers and future potential customers the more valuable YOU and YOUR WEBSITE will become.

WordPress online training course and social mediaIn our Social Media Marketing Course we include every aspect of how to manage your own website using the very popular WordPress Content Management System. This includes having multiple users be able to publish content. We also teach you how to optimise your blogs and pages for important keywords using tags and categories, how to use meta tags on your pages and even on images so everything gets indexed by Google and how to make your website look fantastic with professional themes (templates).

Lead Capture and Email Marketing

Having a call to action on your website or Facebook Page is critical to truly analyse it’s effectiveness and understand it’s success — what’s working and what needs to change. A very important part of that is to capture the email address of people who visit your site and most websites do that using a giveaway, free reports, white papers etc. Once you have a potential clients email address you effectively have permission from them to send them email messages.

We use a number of different email marketing solutions including Campaign Monitor and Aweber, and these are very similar to MailChimp, GetResponse, Constant Contact and a plethora of other email marketing solutions. We’ll show you how to use these systems to capture website visitor details and send them messages automatically. 

Capturing, Analysing and Understanding visitor traffic

Video visitor Analytics - property marketing video for real estate agentsGoogle Analytics is the most popular website traffic analysing system and you can use it to measure the effectiveness of your website day-by-day, week-by-week and for specific date ranges.

We show you how to implement the code on your website, how to access the visitor traffic information on your PC and even your mobile phone and what elements to look for to understand what your website is doing. 

Conclusion about Social Media Marketing Course

We do all of this using our own website examples as well as Derek Farmers website so you can see what real businesses do to succeed online. Whether you want to do all of this yourself, hire an experienced internet marketer or find a suitably qualified work at home mum (or dad) this course will give you an abundance of knowledge and strategies to manage what you do.

See what’s included in our Social Media Marketing Course and enrol today at a huge launch discount!

[button link=”http://ezylearnonline.com.au/courses/marketing-training-courses/digital-marketing-social-media-courses/” color=”orange”] Social Media Marketing Course Contents[/button]

 

Posted on

Reckon One or MYOB?

Just What Do We Reckon?

find-a-good-bookkeeper
Reckon One was the original distributor of QuickBooks.

Not so long ago, we looked at the major differences between MYOB and QuickBooks. We also explored some of the other benefits of Quickbook more generally over MYOB, but Reckon One, which used to distribute QuickBooks in Australia before striking out on their own with their cloud accounting software, is also becoming a major player in the cloud accounting space for small businesses.

We thought we would take a look at how Reckon One stacks up compared with MYOB, which is still the market leader in Australia and the mostly widely used account software application among accountants.   

Reports

The reporting functions in Reckon One are extremely powerful. This is true of MYOB, as well, but with one major difference: Reckon One has the ability to customise and save the reports you’d like to run. This is a big time-saver, as it renders all your reports just one click away, rather than several. If you’re using a bookkeeper, they’ll be able to run your reports for you the first time, and then you’ll be able to go in and generate them as often as you like afterwards.

Payroll

Both products offer a very good payroll system for businesses that need it (Reckon One, at the time of writing, charges an additional $3/month to turn this feature on), while unlimited payroll comes standard with the MYOB Essentials Unlimited Payroll plan. Both products are also SuperStream Compliant, so if you’re looking for a stable, yet flexible, payroll system, either products are a good choice. Of course, depending on your business’s other needs, you may lean more toward the cheaper Reckon One option.

User Experience

MYOB AccountRight, even to this day, looks dated. The MYOB Essentials platform, however, has a much cleaner interface, as does Reckon One. The product you choose will depend on the size and needs of your business, the features you require, and who will, primarily, be using the software. MYOB is famously more difficult to use compared with Xero, QuickBooks or virtually any other accounting software. Indeed, everything you can do in Reckon One takes about three or four more clicks to perform in MYOB, so, again, it’s a matter of personal choice. There are many Apple users who can’t understand why people still use IBM computers, just as there are many IBM users who can’t understand why people use Apple products.

In selecting a cloud accounting package for your business, remember not to choose solely based on price. Make a list of the needs of your business and the functions you’ll require, and then select the accounting package that suits your needs the most. It’s also a good idea to speak with your bookkeeper before making a choice. 

***

Right now, for a limited time, we’re offering over $300 off a number of our online courses — we also have new great courses in QuickBooks online daily transactions and, if you’ve ever struggled with filling in a timeline of posts on social media, or you want to start promoting yourself or your business in social media, try our Digital Business and Social Media Marketing Courses.

Posted on 1 Comment

Why Partnerships Can Be Risky Business

An Understanding of Business Partnerships is Essential

business-partnerships-training-course-online
Structuring your business as a partnership doesn’t have to be risky business if you arm yourself with the right information first.

As we mentioned in our previous post about doing the necessary actions to start your new business now, rather than in January, there are lots of tasks to carry out before your business will be ready to commence trading. The first, most important thing you should do, is register for an ABN.

There are lots of services available that, for a fee, will register your business name, company structure, domain name, email hosting, and even register your business for GST and PAYG. But do you really need to use these services? Well, it depends. 

You might if: Continue reading Why Partnerships Can Be Risky Business

Posted on 1 Comment

FREE Digital Business Course

Learn How to Run a Business Online

starting-a-new-cafe-or-retail-business
It doesn’t matter whether you have a specifically online business, or a gift shop, clothing store, cafe or other bricks and mortar business, as a business owner, we can help you understand the digital economy.

In a post I published about starting your own business, I said that all small business owners should have an understanding of traditional and digital marketing. You’ll be surprised how many don’t!

All businesses have a digital aspect to them these days so it’s vital that business owners and managers know how to manage the digital aspects of their business.

This starts by understanding some of the terms used and how websites, domain names, hosting and the Google search engine works. Continue reading FREE Digital Business Course

Posted on 3 Comments

Start Your Business NOW!

The Christmas Holidays is a Terrific Time to Start a New Business

start-your-own-small-business-this-christmasIF YOU’VE DECIDED THAT this will be the year you start your new business, don’t wait until January to begin your journey to becoming the head honcho.

Right now is the best time of the year to begin — because while everyone else (businesses included) has gone on on holidays, you’ll be ready to take on your first client or customer by the time January 2017 rolls around. Continue reading Start Your Business NOW!

Posted on

The Secret to an Error-Free BAS Report

What To Do So You Don’t Lose Money When Doing Your BAS – 6 steps

If your business is registered for GST, it means you have to file regular activity statements with the ATO, usually each quarter. A lot of business owners export their Business Activity Statement (BAS) data straight from their accounting software, like MYOB or QuickBooks, and quickly prepare their BAS’ that way. But this is an imprecise method, and one that could be costing you money.

Tracey Marino, an experienced bookkeeper based in Rockingham, WA, knows how important it is that businesses of all sizes keep their Business Activity Statements error-free so as not to end up costing business owners money.  Continue reading The Secret to an Error-Free BAS Report