14 September 12

The Current State Of Australian Business

Mark Bouris was fantastic at the Yellow Brick Road Business Seminar. If you haven’t had the chance of seeing him speak you must do so. I always leave more inspired, the lights up a room with his humility knowledge and fight (what he calls passion). They are rolling out events Nationally so I recommend you go and absorb as much information as you can.

Here are some take homes from Mark Bouris.

  • Everybody has a grind of struggle it's the intensity that differs
  • Mark Bouris quotes “Success is about continually inspiring people.”
  • Small business is the engine room of the economy
  • The term "Small" business is crazy because what we do is massive! There is NOTHING small about it.
  • Hope is a virtue, everybody must have hope.
  • People who don’t understand business can think you’re being flippant but we change based on what we learn. We reassess all the time.
  • Understand WHY then find out how, always remember the what and why.

Comments from Brad Seymour and Business Coach Scott Maclean

  • Don't change your brand unless it will grow your business
  • Don't be different for the sake of it, it must have a purpose.
  • Don't look at what your competitors are doing look at what they're SAYING
  • Never follow your competition, know your customers
  • Advertising is NOT exciting when it doesn't work.
  • The most successful businesses get guidance from the beginning
  • Social media- make it manageable and make it count
  • Social media is a marketing platform that is a two way street. Be ready, it's not about PUSH marketing
  • Take nothing by chance BE deliberate in everything you do. Good culture = good brand
  • Make sure your staff create the right culture and brainstorm with staff to create it.
  • Start ups- don't overcapitalize in the 1st 12 months.
  • Marketing is about the customers needs.

Thoughts and predictions from Economist Alex Joiner

  • Interest rate cut by the end of the year
  • Australians are saving like never before, they're saving around 10%.
  • Deposits is the safest investment at the moment.
  • There are no compelling reasons why the Australian property market will collapse
  • Australian Consumers are just as negative about the economy as international consumers despite our healthy economy
  • Manufacturing is tough in the current economy but it balances out with what's strong
  • The strong A$ is helping contain inflationary pressures. Either high interest rate or high exchange rates
  • We're in the FIRST phase of the mining boom. When the government talk about the end, they mean the end of the 1st phase.
  • Australia has out preformed the world in terms of growth. Coal and iron allows us to operate on a different level
  • China has trillions in the kitty enough to buy 2 years of the entire Australian economy. Our most important trading partner
  • China’s economy is slowing into a much more sustainable pace. Because we deal a lot with them that impacts Oz more then any other.
  • Heaps of pressure on the European and US economy.
  • 21 years between that latest recession and the last. A world record.

 

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