Work on and in your busi­ness

SPEND TIME ON DE­VEL­OP­MENT

Southern Gazette (South Perth) - - STREET WATCH - Emma Blake

WHEN it comes to busi­ness, no mat­ter what you do, you can’t be a di­nosaur.

“We all know what hap­pened to them,” busi­ness ex­pert Linda Hai­ley said.

She said in­no­va­tion was essen­tial to sur­vival in busi­ness, whether you were a plumber or a pas­try chef.

“It’s a tur­bocharged mar­ket. Every­body can ac­cess in­for­ma­tion so much faster, and peo­ple go off things faster too,” Hai­ley said.

“You have to be across the prac­ti­cal stuff like how to use tech­nol­ogy and you have to know about mar­ket­ing – and par­tic­u­larly who you are mar­ket­ing to.”

Mar­kets have be­come tighter than ever but that has brought op­por­tu­ni­ties.

“A cloth­ing site might make bam­boo bibs for ba­bies – a niche mar­ket that tra- di­tion­ally small busi­nesses couldn’t ac­cess eas­ily,” Ha­ley said.

“But on­line any­one in the world can search ‘bam­boo bib’ and find your site. You can be a one-man band and have as much pres­ence as a large busi­ness.”

Of course the vol­ume of in­for­ma­tion and ex­per­tise avail­able on­line can also make life harder. For in­stance, peo­ple who leave their job with an­other com­pany and go out on their own as con­sul­tants in their area of ex­per­tise may find it hard to com­pete with all the in­for­ma­tion and ad­vice that is read­ily avail­able.

Researching your mar­ket and de­vel­op­ing ways to tar­get that mar­ket are key.

Hai­ley said small busi­nesses need to spend two or three hours a month work­ing on their busi­ness, rather than in their busi­ness. This means tak­ing a step back from the day-to-day ac­tiv­i­ties to look at how to im­prove their op­er­a­tion.

Fit For Busi­ness is a part­ner­ship be­tween Com­mu­nity News­pa­per Group and Al­lianz. Pas­try chef Fran­cois Ga­land among sweet treats in his shop.

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