• Define the scope of the job to give you a more accurate idea of how much the job should cost;
• Spell out liability arrangements so if something goes wrong, you know the extent to which either party is liable;
• Factor in intellectual property and have IP assigned to you so you own it outright;
• Identify key performance indicators so both parties agree on how work standards will be measured; and
• Know how to end it to allow either party to exit the agreement.

Here are a few security tips to get you started:

• Back everything up!
• Treat PDAs and smartphones with the same importance you would a desktop—the information on these devices is usually just as valuable.
• Limit the information you reveal about your business on social networking sites.
• Consider encryption software—you don’t want your data falling into the wrong hands.

How you deal with mistakes is just as important for customer relations as your business. Following a mistake with an apology and then rectifying it earns you almost as much respect than if you’d done it right the first time.

Nominations for the 2009 Telstra Business Awards opened on 2 March and now is the time for your business to begin the journey towards gaining recognition for your achievements and successes.

Deena Shiff, Telstra Business Group Managing Director and Telstra Business Awards Ambassador, says that for most businesses, the prospect of winning an award in Australia’s longest-running and most prestigious awards for SMEs is hugely exciting. “What might surprise you is that what most of the winners look back on as being the best part of the awards process is actually the entry and nomination process. On first appearances, filling out the form can look a little daunting, but those who complete the entry tell us year after year that it really helps them focus on where their business is going and where they want to take it in the future.”

The Telstra Business Awards program recognises and celebrates the achievements and enterprising spirit of SMEs across Australia and knows that the business journey is just as important as the destination. Companies with between one and 200 employees are invited to enter and be in the running for up to $400,000 in cash and prizes.

New South Wales-based Machinery Automation and Robotics (MAR) was named the 2008 Telstra Australian Business of the Year. Established in 1987 as a leading designer and manufacturer of complete industrial automation solutions, MAR provides a competitive edge through high-tech automation and robotics for both small and large production-critical companies. Recently, development of proprietary technologies has enabled MAR’s clients to compete in a global market.

Cylde Campbell, CEO of MAR, says: “Entering the Telstra Business Awards has been an extremely worthwhile experience, both from a business perspective and from a team development perspective. Completing the entry encouraged us to revisit all areas of the business, while the input and questioning from the judges further challenged our thinking.

“To have our team involved with the process and to be present on the night proved to be invaluable, while to win was an amazing bonus; something that we were optimistic about but not over confident given the amazing scope and abilities of the other competitors. Since winning, the level of interest in MAR from a PR perspective has been overwhelming and way beyond what we could have hoped for, while the feedback and congratulations from our customers continue to flow in.”

He adds: “I believe that the Telstra Business Awards are the most prestigious award that we could possibly win and there is no doubt the benefits to MAR will be far reaching.”

NOMINATE NOW!
Telstra wants to hear your story. Nominate your business or a business you know for the 2009 Telstra Business Awards.

Nominate now at www.telstrabusinessawards.com or call 1800 262 323.
Nominations opened on 2 March, with entries closing on 17 April 2009.

They saw the benefits almost immediately, with an 80 percent reduction in the cost per printed page, increased customer satisfaction with colour accuracy and print quality, along with the ability to turn around last minute orders immediately by printing in-house.

Here, we look at how they slashed their printing costs and boosted productivity.

Who is The Independent Wine Group?
The Independent Wine Group (IWG) offers quality cleanskin wines to corporate customers, retailers, restaurants and for special fund raising events. Based in Melbourne, IWG has been distributing wine for 30 years and represents some of Australia’s leading wineries. In 2005, IWG expanded their business to include customised wine labelling, where they designed and labelled quality cleanskins for their customers in-house.

The challenge
The company’s growth meant its existing printers needed to be upgraded. As wine labels were not a standard paper stock, IWG had trouble finding a solution. They were presented with machines that cost up to $1million or were given the option of low-end inkjet printers that did not meet their business requirements.

John Travaglini, Director of IWG said, “We had to keep the printing of wine labels affordable so buying expensive printers was out of the question. At the same time, it was important that the wine labels met the specific colour reproduction standards of our corporate customers’ logos.”

“The cost of offset printing is exorbitant with a small print run and it adds to the production time for each job.”

IWG was conscious about the cost of consumables as their print volumes were fairly high. The volume of print in conjunction with the heavy stock used meant the imaging units of some printers had to be replaced frequently.

The solution
Having used a Fuji Xerox Printers Phaser 6300 for the past two years, John was impressed by its durability and the quality of its output. IWG approached UDG, the reseller which had provided the printer to recommend a new solution.
John said, “UDG talked to us about using PagePack, a managed print solution and we knew immediately that it was the right solution for us.”

PagePack provides customers with a fixed price per page cost model for printing in-house. Customers are only charged on a fixed cost per page irrespective of how much toner or other consumables are used.

“The cost per page with PagePack was 80 percent cheaper when compared to the cost of purchasing our own consumables and managing the device outside of the warranty period. Since a lot of our printing is done in colour, having a set page cost gave us a high level of confidence on what we would expect to pay each month.”

Being a small business, IWG had three laser printers for the printing of labels, general office administration and for the printing of delivery forms. The ability to support different forms of media and printing at a fast speed was critical to ensuring its business kept running smoothly.

UDG installed two Phaser 6360 colour laser printers at IWG and experienced no downtime.

But what if you can invest your company’s profits into an extremely secure online savings account with no fees, whilst earning a high 4.00% pa interest on every dollar – and your money available when you need it?

RaboPlus, the online banking service from AAA rated Rabobank Australia Ltd, offers businesses a single platform combining high interest savings, term deposits and online access to a selection of wholesale managed funds. Operating exclusively online, customers can access and manage their accounts, along with buying and selling managed funds simply and efficiently, saving time and money.

Investing in managed funds has never been easier. With RaboPlus, you can invest your company’s profits in managed funds from leading fund managers.

Businesses can start investing with as little as $250 and have access to wholesale funds, with one low entry fee. With no paperwork, businesses can easily and efficiently buy and sell online along with having access to independent investment experts’ opinions, tips, market commentary, podcasts and blogs.

With RaboPlus, you can save on fees, be in control and make your own decisions in your own time online.

For more information on RaboPlus services for businesses, visit www.raboplus.com.au

RaboPlus and related  deposit products are issued by Rabobank Australia Limited ABN 50 001 621 129,  AFSL 234700. Read the terms and conditions at raboplus.com.au when deciding if they are appropriate for you to acquire or keep. Interest rate current at 10/3/09. Rabobank Australia Limited has a AAA rating from Standards & Poors. Ratings are subject to change. For the latest ratings information please visit www.standardandpoors.com. Ratings issued by Standard & Poor’s (Australia) Pty  Ltd are solely statements of opinion and not statements of fact or recommendations to make any investment decisions.

He pointed out that if you are viewing your accounts every two-to-four weeks, you have the opportunity to spot mistakes early on like invoices or payments missed, costs wrongly allocated on your profit and loss etc. It was the most valuable advice I received. I found an outsourced bookkeeping service to help me so I could focus on growing the business. Through all the passion I have for my business, the figures never lie.

Kristina Karlsson, founder, kikki-k
www.kikki-k.com.au

My best piece of advice was to do something you’re really passionate about. You’re going to need to invest considerable energy and time into it, so make it something you really enjoy. And create a crystal clear vision of what you want to achieve. Your vision will guide your decision-making, so when times get tough, your vision has to be strong enough to pull you through.

Adrian McFedries, MD, DC Strategy
www.dcstrategy.com

The best piece of business advice I was ever given was don’t try and be all things to all people. Make sure whatever you choose to apply yourself to, be the very best at it or find another activity.

The underlying premise of this advice in practice has created an ability to understand the need to create ideas and direction but ensure the attention to detail is of a very high standard and extremely consistent. The harsh reality is most businesses and operators fail to reach their potential due to poor execution, ill discipline or plain sloppiness rather than for any lack of idea or ability.

Mary Henderson, founder and CEO, GeekIT
www.geekitgroup.com.au

Starting a new business is fraught with challenges, especially trying to win deals away from larger more established players. However I always remember a piece of advice one of my mentors told me. He said: “Focus on what you have, not what you don’t have and always stay passionate about what you do.”

All too often start-ups focus on what they don’t have, such as large infrastructure and teams and look at this as a factor limiting their potential. However the real value lies in their initiative and passion. My mentor told me that he never judged his suppliers by their size; what he was more interested in was the business owner and their attitude and commitment.

So always remember passion and enthusiasm sell. If you do not believe in yourself and your business, no one else will.

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Michael Derin, managing director of Azure Group, a Chartered accountancy firm specialising in providing strategic advice to SMEs, says many businesses don’t understand the benefits of ongoing tax planning.

“Under the current economic climate with the government announcing many tax concessions it is essential to have planned and considered the opportunity to be able to access these earlier then later.

“We have helped many clients save considerable money and time by identifying potential tax issues and reviewing their affairs before the financial year end.

“By implementing an ongoing tax planning system, businesses can have better control over cash flow, better plan business activities and set budgets and be in a position to maximise opportunities that come their way, like new business ventures and acquisitions and application of government grants,” added Derin.

According to Derin, an effective tax plan includes many elements with varying levels of complexity. But the key areas for SMEs to consider when implementing an ongoing tax plan include:

Record keeping
Ensuring your financial records are kept up to date and in order can make a considerable difference in the time it takes to process tax information.

“Often it is inadequate record keeping systems that let small businesses down with their tax. It may be your accountants job to process your tax return but you can certainly help make this process more efficient by ensuring financial records are prepared,” said Derin.

Consideration of your financial position
“There are big advantages to knowing and reviewing your current financial position.  Managing profits and expenditure can include activities such as obtaining substantiation for writing off bad debts and considering incurred expenditure or any unearned revenue.

“Unearned revenue is revenue you may have earned without yet providing any goods or services, for instance a project has been pushed back and your services have not been required although you have been paid,” said Derin.

Tax deductions
Tax deductions are made in order to reduce taxable income and also payable tax.  A business may make a number of tax deductions, including donations, self-education expenses, insurance premiums and other work related expenses. Small businesses with a turnover of less than $2 million may also be eligible for tax concessions.

“It’s a good idea to plan for tax deductions. For instances, an organisation can put in place a sponsorship management plan, which is not only favourable in terms of corporate responsibility but can also be tax effective. Looking at educating your staff to improve their level of skills and knowledge can also be a tax deductible activity. There are many activities and expenses that small business can claim tax deductions for, by putting in place a plan a business can make the best use of these,” said Derin.

Adopting an international viewpoint will help you, as a business owner, to better understand how the political, economic and social forces in the global community interlink and what they mean for the future of your business, family and lifestyle.

Newsweek brings you this global perspective, with cutting-edge insight into the events and people that are changing the world on a daily basis.  As a result, opinion leaders and top decision makers read Newsweek for its analysis of international business, politics, technology and culture.

Newsweek also helps non-native speakers of English enhance their vocabulary with clear, concise and easy-to-read articles.

Put your business ahead of the curve and arm yourself with top-quality information about business and international affairs.

To subscribe to Newsweek, or for more information about Newsweek’s services, please visit www.newsweekasia.com/promotions/dynamic-business.aspx

With China being the largest trading partner to Australia, it is important for SME business owners to understand how to export their goods/services into the region.

The Congress also serves as a valuable update for existing businesses already trading with China.

Business owners will be given the chance to learn from a plethora of highly qualified and motivated speakers from Government, industry and business who will help businesses understand how to:

• Protect Intellectual Property
• Mitigate risk
• Gather information about Tax, Legal and Government assistance
• Review latest Import / Export legislation
• Learn from businesses successfully trading in China
• Hear about new opportunities and industry growth sectors
• Make new contacts

For those who are serious about doing business with China and want to network with like minded business people and advisors, attend the China Australia Business Congress 2009.

To strengthen your business for the future you must act now!  The timing for entering into this market has never been better.  For more information or to register for this event please visit www.acevents.com.au/chinabusiness09.