Mar 17, 2024
- 6:46 Minutes
Mar 17, 2024
- 6:46 Minutes
Mar 10, 2024
- 35: 07 Minutes
Mar 03, 2024
- 09:02 Minutes
Feb 24, 2024
- 07: 25 Minutes
Our podcast supports our small business community – young families who have small businesses.
It provides a unique insight into the minds of genuine, everyday small business owners – entrepreneurs who face the same real issues that you do, such as juggling family commitments whilst managing a business and/or team.
Guests include small business owners (who are passionate about their business and the lifestyle benefits it provides) who discuss issues they faced, are facing (or are anticipating) and how they dealt or propose to deal with them.
We also provide practical ideas, tips and solutions to real-life issues from small business owners at the coal face – genuine small business owners just like you.
Other guests are experts in their field who will deliver tips, strategies and tools to make your business work more successfully.
Mar 10, 2024
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35: 07 Minutes
Feb 24, 2024
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07: 25 Minutes
For all of you Chasers who've clocked in at preservation age and stashed some cash away in super, understanding these minimum pension things is pretty important. Think of it like this: once you hit that preservation age, you can tap into your super as a regular income stream, sort of like a rainy-day fund for your golden years. But to make sure that rainy day fund lasts longer than Collingwood’s last premiership, the government throws down some rules about how much you have to take out each year.
Feb 17, 2024
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07: 15 Minutes
If you’re a car enthusiast and have a self-managed super fund or SMSF, then buckle up, because in this episode we're taking a spin through the wild world of SMSFs and cars because your super fund can actually own a set of wheels.
Feb 11, 2024
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10:08 Minutes
The stage three tax cuts are set to take effect from the 1st of July 2024. These cuts will bring tax relief, particularly for higher-income earners, creating exciting opportunities to boost retirement savings. They involve: Removing the $120,000 to $180,000 tax bracket. Increasing the top tax bracket threshold from $180,000 to $200,000 and Reducing the marginal tax rate faced by taxpayers in the $45,000 to $200,000 tax bracket from 32.5% to 30%. This episode discusses some strategies for high-income earners to consider and take advantage of the opportunities that the tax cuts will create.
Feb 04, 2024
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8:31 Minutes
Withdrawing part of your superannuation fund balance and then paying it back into the account, known as a recontribution strategy, may sound a little strange but it could deliver a number of benefits including reducing tax and helping to manage super balances between you and your spouse. This episode is about using your superannuation balance and the rules regarding contributions to tax effectively set up the non-tax dependant adult children of your family if you pass away.
Jan 27, 2024
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9:18 Minutes
Employers are desperate for workers and cost of living pressures are making it tough to live on a pension. That’s a perfect mix of conditions to send some retirees back to work. But it’s smart to get good advice before you take the leap. This episode is about returning to work after retirement and what to look out for.
Jan 20, 2024
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8:10 Minutes
Many of us use some form of advertising to attract potential customers to the landing pages on our websites where an offer is made to them with a call to action for them to subscribe to our email list or register for an offer. This type of landing page is called an opt-in page and is focused on collecting email addresses in exchange for something valuable, often called a "lead magnet” - a free offer that entices visitors to subscribe (e.g., ebook, checklist, webinar, discount). This episode is about how to maximise the effectiveness of the opt-in pages we use to attract new customers to our business.
Jan 13, 2024
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7:58 Minutes
Episode Summary: Previously, the Victorian Vacant Residential Land Tax only applied to specific council areas around inner and middle Melbourne. However, in October 2023, that all changed when the State Taxation Acts and Other Acts Amendment Bill 2023 was introduced into the Victorian parliament and will now affect Victorian land where the land is taxable, residential and vacant. SMSF trustees with residential property in Victoria will be impacted by the proposed change to the vacant residential land tax (VRLT) set to apply from 1 January 2025, the changes will specifically impact SMSFs with residential property that remains vacant for more than six months in a year. This episode is a warning for SMSFs with a residential property! What you’ll learn: 1:38 Financial Advice Disclaimer: Navigating Investment Decisions with Chris Beks 2:14 Expanding Horizons: Victorian VRLT Amendment and Implications for SMSF Trustees 3:00 Victorian VRLT Expansion: Implications for SMSFs and Property Owners 3:38 Expanding VRLT Impact: A Closer Look at SMSF Trustees' Tax Burden 4:15 Understanding Property Valuation: Implications of VRLT and Exemptions Loads more... Links and Resources: A link to the State Revenue of Victoria's website about this topic: https://www.sro.vic.gov.au/vacant-residential-land-tax SMSFAdviser: https://www.smsfadviser.com/news/22924-new-victorian-land-tax-will-impact-smsfs-with-residential-property-expert #InvestWisely #FinancialPlanningAdvice #PrioritiseYourInvestments
Jan 09, 2024
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8:17 Minutes
The calendar turns over to a fresh, brand-new year, full of promise. But many of us stay stuck at the promise to do stage. This episode is about how do we keep these promises we make to ourselves and get to the end of the year with our resolutions intact and goals realised.
Dec 30, 2023
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5 Minutes
With the busy lead-up to Christmas and now the New Year many small businesses have a challenging road ahead of them, especially in this recovering economy. Small businesses that were already in operation when the downturn began were hit hard and are struggling to stay on their feet, that is, if they don't go under entirely. Managing stress as a small business owner can be a monumental task, but it is so incredibly important to the business and to the individual in question. Today’s episode is about recognising stress and the ways to deal with and manage it.
Dec 23, 2023
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8:18 Minutes
Those of us who have kids (particularly young ones old enough to believe in Santa and the magic of Christmas) or will be surrounded by them via family or friends at Christmas time will at some point in time be confronted by the real BIG QUESTION when it comes to answering their questions - about Santa and whether he's real! So, how do you tell your kids without them totally freaking out and yelling at you about being a big, fat liar? And keeping them from spilling the secret to their younger siblings? Today’s episode is about how to deal with the time when the deep dark secret about the reality of Santa must come out, and the Secret Santa!
Dec 16, 2023
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11:04 Minutes
With your small business, if you’re not using social media, you’re missing a trick. Social media is a fantastic way to promote your business and engage customers, especially in high-spending times like the run-up to Christmas! This episode has ideas for how you can get social this Christmas which can even lead to more sales!
Dec 09, 2023
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6:29 Minutes
While a Christmas party can be great fun, it can also be the catalyst for people arguing, losing their jobs or even - worst case scenario - ending up in jail. In fact, it's now become so much of a talking point that lawyers now see this time of the year as a very lucrative part of their litigation business. Not to worry today’s episode has some party safety tips for employers and employees to follow.
Dec 02, 2023
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7:47 Minutes
It’s that time of the year when the spirit of Christmas is truly alive - the decorations are up everywhere, Mariah Carey is stuck on auto replay in shopping malls and businesses are looking to celebrate with their Teams at the annual Christmas Party and provide them with Christmas Gifts. This episode is about the costly mistake that employers often make when playing Santa for their Team and then trying to claim the Christmas Party and Christmas Gifts.
Nov 25, 2023
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16:31 Minutes
The use of remote offshore workers or virtual assistants is revolutionising the way business owners deal with a large number of menial tasks in a labour-shortage market. Virtual Assistants or VAs can work on a part-time or full-time basis, and they can be hired for specific projects or on an ongoing basis. They are typically paid by the hour, project, or month. In this episode, I am joined by a business colleague of mine, Carmen Williams, who runs the very successful international employee management service - Global Teams, to discuss how they can transform your business and the way you operate in the future.
Nov 19, 2023
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10:47 Minutes
If you are a UK Expat, then there is the potential for you to make a small investment before the 5th April 2025 that gives you a guaranteed pension for life. UK expats who have not yet reached state pension age may be able to make voluntary National Insurance contributions to improve their state pension entitlement. They may choose to rectify this by making a voluntary contribution for missed years. Doing so can be a very profitable move, as some individuals will spend as little as £800 bridging any gaps in their records while seeing a return of £5,500 or more for life. Today’s episode is about a recent change in the UK legislation that potentially allows UK expats to increase and receive a guaranteed State pension for life from their motherland.
Nov 12, 2023
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6:43 Minutes
You have stated you want to write a book, start a new marketing campaign, get up early so you can get fitter and healthier but something holds you back. Weeks go by and you still want to do it but you just can’t get started. Why? This episode is about the dreaded affliction that stops many aspiring business owners and individuals from achieving the dreams they are chasing in their lives - Procrastination. Procrastination is the act of delaying or postponing things. It is a common problem that affects people of all ages and backgrounds, including business owners. Find out ways to avoid it and get things done!
Nov 05, 2023
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8:01 Minutes
Generally, a contribution to a self-managed superannuation fund (or SMSF) is tax deductible when it has been received by the SMSF BEFORE the 30th June and is acknowledged in writing by the fund Trustees that they have received a Notice of Intent from the payer that they wish to claim the contribution as a tax deduction. In the case of electronic transfers, there is a danger of missing out on a tax deduction if the contributions are transferred on the 30th of June but don’t make it to the SMSFs account until after 1 July. This episode comes from a real-life case just before the 30th of June and is about how to make an urgent tax-deductible contribution to your SMSF with no money!
Oct 29, 2023
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9:20 Minutes
Real estate is many people’s most valuable asset. If you own property, it’s important to make sure it’s protected with a security system and insurance. Property insurance is a type of insurance that covers your home and its contents against damage or loss caused by certain events, such as fire, theft, and natural disasters. It can also provide liability coverage in case someone is injured on your property. This episode looks at some of the reasons why you should get property insurance.
Oct 22, 2023
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13:40 Minutes
With higher interest rates impacting investors, many buyers are looking at creative ways to boost their rental income. One popular strategy is building an extra dwelling – like a granny flat – on the property. While it’s not possible in all situations, there are benefits to having a second residence on the property. This episode explores some advantages and disadvantages of building a granny flat on your investment property.
Oct 14, 2023
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13:7 Minutes
When we have a Team who understand their roles and are good at what they do they tend to be eager to do more and accept the challenge of being busy and productive. So, it makes good economic sense to look at ways to generate more business to satisfy that need to grow your business. But if you focus solely on getting new customers, you're missing a big opportunity. When it comes to growing a business there are just 4 fundamental ways to do this.
Oct 08, 2023
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8:40 Minutes
Normally, an SMSF can't invest too much in assets owned by related parties (like family members or business associates) because of the in-house asset rule which restricts investing to 5% pf the total assets of the fund. This episode is about a unique way for SMSFs to co-own Property with family or business partners within investment limits.
Oct 02, 2023
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12: 36 Minutes
Starting up a business with no advice and with no asset protection is like walking into a casino and betting your house (and perhaps most of the other assets you have accumulated to date) on your favourite number - you risk losing everything! One of the biggest risks is that you could be held personally liable for any debts or legal issues that arise from your business. If your business fails or gets sued, your personal assets such as your home, car, and savings could be at risk. This episode discusses how to avoid this and why it's important to get advice about how to protect your personal assets (and on other matters) before starting a business in Australia.
Sept 24, 2023
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9:12 Minutes
The key to most property transactions comes down to a buyer's ability to secure finance. But over the past 12 months, as interest rates have risen against a backdrop of higher property prices, obtaining finance hasn’t always been easy. The first step most would-be buyers take is speaking to a mortgage broker and getting a pre-approval in place. This episode explores whether pre-approvals are really worth the trouble.
Sept 16, 2023
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8:32 Minutes
We all have seen those ads on TV - compare the pair - and they really are misleading in many ways stating that Industry Superannuation Funds are superior to Retail Superannuation Funds. There is no comparison of the features and benefits of the insurance products held by each which can dramatically affect a member at claim time. This can make those compare the pair ads very misleading.
Sept 10, 2023
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11:23 Minutes
Are you the one in your business who is answering phones, talking with team members, fighting fires, juggling all the elements of your business at once - marketing, sales, management, operations, finances, cash flow, debtors, creditors, suppliers and more? You’re extremely busy and you’ve just realised that you forgot to eat lunch again, and someone unexpected has just walked in the door. Unfortunately, that means you’re going to have to spend time with them instead of completing the paperwork you really wanted to finish. Oh well, you’ll take it home and do it tonight. This is working in your business ... ... the secret is to work ON your business so that you don't have to work IN it! In this episode we will be exploring this concept in more detail.
Sept 03, 2023
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8:17 Minutes
This episode is about claiming a tax deduction for your personal superannuation contribution on your income tax return and the hidden trap if the relevant paperwork has not been completed, lodged and acknowledged as being received by your superannuation fund. In such cases, there is simply no way to claim the personal contribution as a deduction. The tax law doesn't provide any discretion to the ATO or the fund in this situation.
Aug 27, 2023
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12:3 Minutes
The Australian Tax Office or ATO pays close attention to the expenses claimed by landlords, especially those operating in the Airbnb space. They are ramping up its enforcement activities and will undertake 4,500 audits of taxpayers it considers are “high risk” because they claim expenses incorrectly, overclaim or don’t declare income relating to rental properties. One area that is quite often misunderstood by landlords is the area of repairs & maintenance. They think that if they buy a house and decide it needs an internal paint before they try and get a tenant, they should be able to claim that painting expense as repairs and maintenance. This is a common mistake and one quickly picked up by the ATO. But why is this not a repair? This episode explores the differences between repairs and improvements and how you can still get a significant tax deduction for improvements or capital works with a specialised tax depreciation report.
Aug 20, 2023
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9:55 Minutes
Buying off the plan is a strategy for buying property, residential or commercial, where a buyer purchases a property that has not yet been built or completed. The buyer is essentially buying the property after carefully examining the construction plans and the finishes included without actually viewing the completed product. Hence the term buying "off the plan" as it is based on the blueprints and design plans provided by the developer. Buying properties off-the-plan has become a popular way for home buyers and investors to purchase property. However, when buying a property that is yet to be built, there are some important considerations to think about before signing a contract. This episode looks at some of the pros and cons to consider before buying off-the-plan.
Aug 16, 2023
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9:12 Minutes
Landlords always want to maximise their rental property tax deductions and want to claim work done on their properties as repairs because that means a 100% immediate tax deduction. A common mistake that landlords make is incorrectly identifying the type of expense insured when claiming expenses for work done on their rental properties. It's important to understand the difference between repairs & maintenance to the rental property and capital improvements. This episode is about the costly mistake that landlords often make when they claim the work done on their properties.
Aug 06, 2023
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8:27 Minutes
Obtaining finance can be more challenging for self-employed business owners compared to borrowers with a regular pay cheque. However, there are ways to improve your chances of securing financing as a self-employed business owner. This episode explores 5 key areas where a self-employed business owner can significantly improve their chances of securing finance.
July 30, 2023
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5:26 Minutes
This episode is about the importance of having a business plan before starting (or buying a business) or if you have an existing business. We often see small business owners dive into entrepreneurship without a proper plan, and this can lead to a lot of difficulties down the road. It is your map for the direction of your business and shows where you are heading, how you will get there and what roadblocks you can expect along the way to watch out for. We discuss what a business plan is, why it is important and who should have one. What you’ll learn: (0:48)The Importance of a Business Plan: Your Roadmap to Success (1:00) What is a business plan? (2:00)The Key to Successful Ventures (2:38) Expenses might look like in order to break even and survive (3:50) A business plan can also help you stay focused and accountable. (4:10) Evaluating different options and can help you choose the best course of action for your business. Links and Resources: Business.gov.au: https://business.gov.au/planning/business-plans/develop-your-business-plan . Australian Bureau of Statistics (ABS): https://www.abs.gov.au/ #BusinessPlan #SmallBusiness #Entrepreneurship #RoadmapToSuccess
July 23, 2023
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9:25 Minutes
Cherished moments, sweet memories, As tax time is upon us once again, many taxpayers find themselves uncertain about what they can claim as deductions to minimise their taxable income. One area where mistakes are frequently made is claiming for clothing purchased for work purposes, even if required by the employer. While claiming work-related clothing expenses is allowed under certain circumstances, misunderstanding the rules can lead to potential errors, unwanted audits and the resulting penalties and interest for getting it wrong! This episode discusses some common mistakes taxpayers make when claiming clothing expenses and how to avoid them. What you’ll learn: (0:33) Insights and Advice from Financial Expert Chris Becks Decoding Work Clothing Deductions (1:56) Avoiding Common Mistakes During Tax Time (2:30) Let's look at some common mistakes taxpayers make (3:39) Mistake number two, failure to meet the distinctive test (4:23) Mistake number three, and this is probably one of the most common ones, overlooking (5:34) Mistake number four, claiming for clothing provided by the employer. (5:58) Mistake number five, claiming for laundry, dry cleaning and repairs. (7:17) Mistake number six, failing to keep proper records. (7:54) Chris talks about Claiming clothing expenses for work purposes can be a beneficial tax deduction if done correctly. Loads more... Links and Resources: Australian Taxation Office (ATO): https://www.ato.gov.au/ #WorkClothesTaxDeductions #TaxDeductionsAustralia #TaxTime (Consider adding the current year) #ATO
July 16, 2023
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8:38 Minutes
Often superannuation can be a great structure for people to hold their property in and is generally the reason why a Self Managed Superannuation Fund, or SMSF as they are known, is usually chosen. Retail and Industry Funds, you know those ‘compare the pair’ funds that you see on TV, don’t allow members to hold property. Superannuation is usually a lower tax environment and can offer protection against bankruptcy so it makes sense to have your SMSF hold property. Now, sometimes, you may feel that a property that you own in your own name would be better off in your SMSF, particularly as your property has no mortgage or debt and your SMSF is cashed up! This episode explores whether you can move the property into your SMSF in this case.
July 09, 2023
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6:28 Minutes
Refinancing your motorbike loan is not always something people think about, but with interest rates and the cost-of-living climbing, there are several advantages that borrowers can capitalise on. The rising cost of living forces us all to look closely at our personal expenses. And with greater competition amongst lenders with new providers entering the market refinancing your motorbike loan could be an option to getting a lower repayment and some breathing space with your cash flow. Three reasons to consider are covered in this episode
July 01, 2023
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10:45 Minutes
Does your business have a strong flow of leads coming in, is it a trickle or just a few drops every now and again? It is not uncommon for a lot of business owners to only prioritise their marketing when they are experiencing sales dropping off or drying up completely. They have no sales or jobs for their Team to fulfil so they run a marketing campaign. This brings in some business, they get busy, and their Team start to complete the orders until they run out of work again. Then they think to themselves – ‘our cash flow is short again, we better do some more marketing’ - and so the disjointed process repeats over and over again. The lead funnel formula guides potential customers through the marketing process and increases the likelihood of converting them into buying the products or services you sell, and if used consistently will deliver a constant supply of customers to your business, and a consistent cash flow as a consequence. If you are the type of business that does reactive marketing, there is a better, more sustainable way to bring in a constant supply of leads to your business - The A.I.D.A. Marketing Model.
April 30, 2023
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2 Minutes
The Chasers Channel will bring you weekly insights, business ideas, tax tips and inspiration. Each month we’ll be speaking with some of the brightest minds in business across the world, we’ll explore the challenges and triumphs of entrepreneurs who are pursuing their passions and building successful businesses. Whether you’re just starting out or looking to take your business to the next level, this podcast is for you.
TUE 23rd May 2023
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8.55 mins
Often superannuation can be a great structure for people to hold their property in and is generally the reason why a Self Managed Superannuation Fund, or SMSF as they are known, is usually chosen. Retail and Industry Funds, you know those ‘compare the pair’ funds that you see on TV, don’t allow members to hold property. Superannuation is usually a lower tax environment and can offer protection against bankruptcy so it makes sense to have your SMSF hold property. Now, sometimes, you may feel that a property that you own in your own name would be better off in your SMSF, particularly as your property has no mortgage or debt and your SMSF is cashed up! In that case, can you move the property into your SMSF? What you’ll learn: (1:34) You should also consider the relevant product disclosure statement before making any decision (1:54) Owning Property Through Superannuation: Exploring the Benefits of SMSFs (2:20) Exploring the Benefits of SMSFs and Understanding the Limitations (2:38) Transferring Property to an SMSF: Key Considerations Before Taking the Leap (3:00)Exploring the Benefits of SMSFs, Understanding Limitations, and Key Considerations for Transferring Assets (3:33) Chris talks about Business Real Property, defined by the ATO (4:06) SMSFs are prohibited from acquiring any assets from related parties (4:49) There are three main ways that residential property can be business real property. (5:44) Beware the tax man! Transferring an eligible property to an SMSF (6:14) Some states – Victoria, NSW and Western Australia – offer concessions on transferring property Loads more... Links and Resources: https://www.ato.gov.au/ #TransferPropertyToSMSF #SMSFPropertyInvestment #BusinessRealPropertyATO #RelatedPartyTransactionsSMSF #SMSFPropertyTax #TaxBenefitTransferPropertySMSF #SMSFHoldingPropertyLimitations
TUE 16th May 2023
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7:14 mins
Refinancing your motorbike loan is not always something people think about, but with interest rates and the cost-of-living climbing, there are several advantages that borrowers can capitalise on. The rising cost of living forces us all to look closely at our personal expenses. And with greater competition amongst lenders with new providers entering the market refinancing your motorbike loan could be an option to getting a lower repayment and some breathing space with your cash flow. Three reasons to consider are covered in this episode What you’ll learn: (0:54)Chris talks about before making an investment decision (1:31) Refinancing your motorbike loan is not always something people think about (2:01) Motorbike loans typically have a fixed interest rate (2:31) If you're struggling to meet your monthly repayments (3:01) It's essential to carefully consider the overall financial impact of refinancing before making a decision. (3:28) Some lenders offer loans with extra features, such as flexible repayment options (4:15) The rising cost of living forces us all to look closely at our personal expenses. (4:36) Three of the reasons covered in this episode were... (5:01) Before refinancing your motorbike loan, it's important to weigh the potential savings against Loads more... Links and Resources: https://www.forbes.com/advisor/personal-loans/best-motorcycle-loans/ #MotorbikeLoanRefinance #LowerMotorbikePayments # #RefinanceForCashFlow #FixedMotorbikeInterestRates #FlexibleMotorbikeRepayments #MotorcycleRefinanceBenefits #RefinanceBadCreditMotorbikev
TUE 9th May 2023
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10:45 mins
Does your business have a strong flow of leads coming in, is it a trickle or just a few drops every now and again? It is not uncommon for a lot of business owners to only prioritise their marketing when they are experiencing sales dropping off or drying up completely. They have no sales or jobs for their Team to fulfil so they run a marketing campaign. This brings in some business, they get busy, and their Team start to complete the orders until they run out of work again. Then they think to themselves – ‘our cash flow is short again, we better do some more marketing’ - and so the disjointed process repeats over and over again. The lead funnel formula guides potential customers through the marketing process and increases the likelihood of converting them into buying the products or services you sell, and if used consistently will deliver a constant supply of customers to your business, and a consistent cash flow as a consequence. If you are the type of business that does reactive marketing, there is a better, more sustainable way to bring in a constant supply of leads to your business - The A.I.D.A. Marketing Model. What you’ll learn: (0:41) Understanding Lead Generation: Assessing the Flow for Your Business (1:06) The AIDA marketing model could be the solution. (1:51) Chris talks about Understanding its Ineffectiveness for Your Business (2:24) Understanding its Limitations and Short-Term Solutions (3:06) Creating a consistent cash flow requires different thinking. (3:20) The AIDA marketing model is the basis of today's marketing (4:09) The AIDA marketing model outlines (4:58) Building Brand Awareness and Engagement (6:02) Cultivating Desire for Your Brand, Product, or Service (6:56)Guiding Customers Through Informed Decisions (6:56)Guiding Customers Through Informed Decisions Load more... Links and Resources: https://academy.hubspot.com/ https://www.marketingdonut.co.uk/https://www.marketingdonut.co.uk/ #HowtousetheAIDAmodelforleadgeneration #BenefitsoftheAIDAmarketingmodelforsmallbusinesses #Salesfunnelmarketing