Coffee Time Minutes - 23rd February 2011

Welcome

Welcome to our new visitors.

Apologises

Dean, Karen

Who we are?

Small and Home Business owners meeting to build relationships from other SBO’s.

What is CT?

Relatively casual meeting group, where you can network, talk about business ideas and strategies, and learn from one another.

Where?

Tuggerah’s Zenith Centre.

When?

At 10.30 am on the 2nd & 4th Wednesdays of the month. Arrival 10.25 am for 10.30 am start. (Runs for about 1 hour)

Update on our Raffle?

Coffee Time raised $107.45 for the month of February for the Iris Foundation in 2010.

This year we will continue with our Raffles and donation to Iris Foundation. This year we will do a raffle again for the Iris Foundation. We will be looking for prizes/donations up to the value of $10. Its will be up to you if you would like to participate and none should feel obliged. Tickets will be $2 each, or three for $5.

Updated Members

We have over 98 members for Coffee Time. You can come when you are free, never feel obligated and always feel welcome. I have a list with everyone who has come along to Coffee Time; I am updating the distribution list. If you would like to be included, please check your details are correct, update where necessary and add if not on there.

There are 2 business card holders, please feel free to put your business cards in, these are passed around each meeting, and feel free to support each other and utilize their services.

Networking:
• Coffee Time – 9th March
• Coffee Time 23rd March
• Wyong Chamber Dinner – 22nd February
• SWN International Women’s Luncheon at Mingara – 3rd March
• NSW Business Chamber – Breaki with Ita Buttrose – 25th March
• Fridays round the coast SBNG – 3rd Friday her at Zenith


Expo’s in 2011
• 29-30 Apr 2011 – Buy Local Festival
• 22/6/11 Central Coast Women’s Network

Advertising with Buy Local
• B2B – online buy local $22 per month – see B2B or www.buylocalconnect.com.au
• Book now and sign up – and you will get couple of months for free (coffee time members only)

Education:
2011 – Visit BEC upstairs or log on to www.ccbec.org.au
Courses:
• 21/2/11 & 28/2/11 – Online Workshop
• 1/3/11 – Sales and Marketing
• 7/3/11 – Online Workshop
• 15/3/11 – Business Planning Part A
• 22/3/11 – Business Planning Part B

Update:
• Wyong chamber dinner was last night – very good.
• B2B at Mantra Ettalong – great night, fantastic, first event coming next time,

Wins:

Dean – Business has increased
Tony B – my book made the Financial Review, Melbourne taslk back radio and the Townsville Bulletin
April – CCTV has gone into Budgewoi, San Remo and Toukley. Unique Security have donated surveillance
Rob – Maintained business whilst being disabled for 2 months.


Who are you & what do you do: 30 Sec story about you

Tarnia Gurney
Gurney Financial Services http://www.gurneyfinancialservices.com.au/
Planningwerx4U http://www.planningwerx4u.com.au/

Nicole Lothian
SOS Onsite Admin http://www.sosonsiteadmin.com.au/

Tim Close
Close Financial Group http://www.closefinancialgroup.com.au/

Marama Carmichael
Essential Wellbeing http://www.essentialwellbeing.com.au/

Kellie Targett
Insurance Advisernet ktargett@iaa.net.au

Toni Fountain
Insight Health http://www.insighthealthaustralia.com.au/

Sue Liptrott
LBH Promotions http://www.lbhpromotions.com.au/

Selma Sancar
Voice Concepts http://www.voiceconcepts.com.au/

Lyn Thompson
Buy Local online/ LBH Promotions/ B2B http://www.b2bwithatwist.com.au/

Toni Oliver
Toni Oliver Conveyancing http://www.toniconveyancing.com.au/

Tony Bourke
AIIB Insurance Brokers http://www.aiib.com.au/

Dean Brown
Woodview Home Loans & LJ Hooker Financial Lending http://www.homeloansandfinance.com.au/

Simon Calder
Celtic Management Solutions http://www.celticmanagement.net.au/

Rob Buckworth
Interactive Telecoms http://www.interactivetelecoms.com/

April Izzard
Unique Security www.uniquesecurity.com.au

Marama Carmichael
Essential Wellbeing http://www.essentialwellbeing.com.au/

Martin Odell
FutureWorks martinodell@aapt.net.au

Margaret – Dancing Instructor

Jenny Abourizk:
Job Centre Australia http://www.jobcentreaustralia.com.au/

Kate Morris
Events with Pizazz www.eventswithpizazz.com.au

Nicolette Gregory
Photographer & Independent Associate – Usana Health Sciences
onefitone@bigpond.com



Presentation

Today’s presentation is about planning for 2011 – By Tarnia Gurney from Planningwerx4u

Business planning for success:

Did you know?
• There was a study complete at Harvard Business School. The study was done over a twenty-five year period with 1,600 businesses. These were the results:

– 70% of the businesses in the study had no written or verbal plan
– 27% of the businesses in the study had verbal plans/goals only
– 3% of the businesses in the study had them written down

– 98% of the wealth was held by those 3% of the businesses in the study

• Building your Business Plan for 2010
o You should spend about 2 hours in the next week or so to prepare and plan your 2010 and your future
o Your plan must be logical and viable
o It must be a Living document
o It will help you be organised

• What is your competitive advantage?
o Who will use your services
o What do you do better
o What is your advantage
o Who’s your market

• Market Research?
o Have you completed your research
o What are others doing?
o This can be time consuming but it is worth it

• What evidence have you got
o Go to Planningwerx4, Google, DSDR, BEC for assistance

• How much money can you make?
o What amount of money do you need to earn to cover your expenses
 Per month
 Per week
 Per day
 Per client

• Cashflow and Expenses
o Work out expenses – leases, licensing costs, stationary, superannuation, taxes, phones, wages, etc..

• Business Background
• Where are you located – home, office, shop front.
• What do you have to run a business – do your have the training, education, knowledge thru experience
• Know your products
• Know you industry
• Why do you want to be in business
• Who works the business
• Are you a sole trader, a company or a partnership – and how does it all work.

• Your team
• Who is your team?
• Who are your mentors?
• Are there other small businesses that can work with you and support you.

• Customers?
o Who are they
o Where do they come from
o What type of client – age
o Why would they come to you

• Competitors
o Know who they are
o And where they are

• Outside Influences:
o Technology
o Environment
o Legislation
o Regulations

• Issues and Opportunities
o Know your Strengths
o Know your Weaknesses
o Be honest with yourself as you will be able to build your strengths

• Business Systems
o Have office manuals
o Have procedures in place
o Have your systems up to date and in place

• Mission Statement
o What is it
o Does it define you and your business

Planningwerx4u has Business Planning Cds for $50 each, if you would like one please let Tarnia know. or contact http://www.planningwerx4u.com.au/ these CDs are usually sold for $397+GST.

This weeks raffle – donated by Meat at Georges, we raised $59.30 today

NEXT MEETING: 9th March 2011
Presentation – Social Media