Archive | September, 2011
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Final Australian deficit $47.7b in 2010/11

The federal government said on Friday the final budget outcome for 2010/11 was an underlying deficit of $47.7 billion.
Australian Financial News

The federal government said on Friday the final budget outcome for 2010/11 was an underlying deficit of $47.7 billion. Comment by Ric Willmot: What this means is that every grandparent, parent, man, woman, teenager, toddler and baby in Australia has a debt of $2,099.54 each. Every living, breathing person in Australia has a $2,100 share [...]

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Business is responsible for its own results

Missed it by that much …. At 211 degrees Fahrenheit, water is hot. At 212 degrees Fahrenheit, it boils. From boiling water you get steam, which can power an electricity power station. One extra degree makes an awful lot of difference in results and outcomes. The average margin of victory in major golf tournaments in [...]

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Request for Tender is Bad Business

A member of my Mentor Program asked for assistance with writing the covering letter for a RFT. There are better uses of your time than bidding for business with an organisation that is looking for the ‘lowest price.’ Keeping current customers happy is far smarter than chasing after other people’s customers. The AICPA states, attracting [...]

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Weekly Wisdom No.84: Beating the clock with value

Weekly Wisdom No.84: Beating the clock with value

The irrefragable inanity of hourly fees and charge out rates in professional services is clear. If we continue to believe that our value is correlated and inextricably connected with the number of hours we work and show up with our clients, then we are doomed to mediocrity. In October 2007 I wrote about the Boston Law [...]

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Annoying marketing that’s really nothing at all

Marketing, especially the marketing of professional service firms has gone mad. When there is so much noise and distraction in the world today from advertising, social media, billboards, etc., why would you want to be just another part of that amorphous mess? Websites, brochures, blogs and alike are full to the brim with …. well [...]

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Better Business Improvement in 5

Be clear about what you want from your business and the changes you make to create improvements. Design and implement effective methods and processes to accomplish these improvements, all the while being focused on the results not simply the activity. Keep raising the bar. Innovation, improvement and ingenuity trumps solely solving problems. Continuously strive for [...]

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Wayne Swan: It would be funny if it wasn’t so scary

Australian Labor Treasurer, Wayne Swan has been voted Euromoney Magazine Finance Minister of the Year. Let’s take a moment to recap on previous Euromoney award winners and where they are today: Euromoney 2006 Best Investment Bank – Lehman Brothers (Busted 2007). Euromoney 2006 Best Equity House – Morgan Stanley (Bailed out 2007). Euromoney 2006 Best [...]

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Sales 101: 12 Business Focus Questions

A dozen questions that will focus your sales and marketing attention: Who are the people and businesses who best suit your product or service offerings? How can you gain the attention and be seriously noticed by those people and businesses? What can you do to be front-of-mind with them? How will you be different to [...]

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Weekly Wisdom No.83: Will your business try to keep up or stand apart?

Weekly Wisdom No.83: Will your business try to keep up or stand apart?

The information that is being pushed at you is increasing at an astonishing rate. In fact, it has been doubling every 18 months for the last decade! Double the e-mail, double the tweets, double the friend requests on Facebook, double the LinkedIn connections. How will you cope? How will your customers and clients cope? How [...]

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Learn what clients want

Ric’s Friday Redux No.7: Learn what clients want

What makes your business different in the mind of your client? Learn what your clients want and offer it to them before your competitors do.

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