Blackburn Accounting

stand out crowd 1

Standing out in the crowd, being noticed and gaining a competitive edge are key to a successful Business! and more critical than ever in the current economic environment.

Finding your difference, attracting customers and keeping them! What to do! Try our 10 Strategies!

Define your Identity (Unique Point of Difference)
Select your Space
Find your Niche
Sell your Point of Difference
Build your Brand
Use various marketing mediums
BE bold, brave, creative and PASSIONATE about your product!
Connect with your Customers
Value your Team
Keep in touch with the latest trends and issues

1. Define your Identity (unique point of difference)

This is about defining your vision and goals and then developing and stating your value proposition. This statement clearly tells customers what you do, and how you are different which set you apart from others, including your competitors. It might be a new method or a product’s particular feature. To create meaningful points of difference you need to understand not just what benefits and features customers value, but why.

2. Select Your Space

Are you a small Business owner and like many others caught in the current maze of high inflation?

Are you looking for answers and solutions to help get you thru! Yes, then read on.

In this environment, it’s vital to remember you are in Business to make money, earn a living and like most, want to remain profitable. You may be able to absorb some price increases and hope you can ride out the inflationary storm but ultimately if you are making less money, you are potentially putting your Business at risk of failure. I’m sure that’s not the path you want to go down.

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Economic forecasts are mixed on what lies ahead but most predict high inflation isn’t going to disappear overnight or in the short term.

History tells us there is no magic fix

BUT there are ways to help you better manage and respond during these challenging times!

7 Strategies to consider implementing.

Lower Your Costs
Increase Prices
Boost your Cash position
Remodel your Services/Products
Implement Technology solutions
Market your Unique Selling Point
Contact Blackburn Accounting

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Just released Bulletin. On 14 February 2023 Westpac released a statement in the Bulletin that: ‘Westpac-Melbourne Institute Consumer Sentiment Index falls 6.9% in February. Sentiment back at historic lows – weaker reads only ever seen during recession’. What does this mean to you?

Consumer confidence, it’s the economic indicator used to measure the degree of optimism consumers have regarding the overall state of a country’s economic and their personal financial situation. Ironically, remarkably it is consumer confidence, and sentiment, that drive consumerism, the habit of spending. How this sentiment plays out affects the health and wealth of a Business.

In todays current economic climate if you are a Business owner its vital you are doing all you can to build your customers confidence to boost business! Read on to find out more!

The increased Costs of Living – Who Pays? A complex and complexing question – the answer!

Ultimately, we all pay in some way.

Whether you are the Producer, Grower, Deliverer or Consumer, in the current economic environment, we all attract increased cost of living expenses.

These are conditions we haven't seen in over 30years in Australia. For most Businesses this will be the first time having to address inflationary pressures.

Blame it on inflation! In economic terms, 'inflation is the increase in the general price level of goods and services in our economy, which equates to the cost of how much it costs to live'.

Inflation is reducing our money purchasing power as we face these increased costs for everyday necessities. Items such as fruit and vegetables, healthcare, medications, energy, utilities and housing rent or mortgage payments. Many budgets are stretched!

Lurking in the background

Reduce inefficiency
Eliminate unnecessary costs
Invest in Technology
Consider Outsourcing options
Encourage Cost-saving ideas
Focus on your best-selling products
Be your best Marketer to get the best results
Contact Blackburn Accounting

Read on to Get started Now!

Reduce inefficiency: Review all practices and procedures. Paper use and printing are examples where inefficiencies can be addressed, such as the colour option and single paper use. Black and white print and double-sided selection have savings.
Eliminate unnecessary costs and reduce wastage:

Audit ‘everything’ and cancel or dispose of unused, unwanted items. Subscriptions, Maintenance and Service arrangements on unused equipment, are some.

Utilities, supply and use are areas for consideration along with Insurance policies.

Change the product mix and price for your Business.

Have regular cost reviews of all supplies and Business operations.