September 1, 2015
Written
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
09/01/2015
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BPS Technology Exceeds Earnings
Forecast
BPS Technology
Limited (ASX: BPS), a public company traded in Australia, had an
exceptional first year as a listed company. Here are the results as
reported by CEO Trevor Dietz: FY15 was a milestone
year for BPS Technology:
-
Revenue of
$48.1m
-
EBITDA of
$10.1m, exceeding Prospectus forecast of $9.9m
-
NPAT of
$7.9m, exceeding Prospectus forecast of $6.5m by 22%
-
EPS of 13.5
cents, exceeding Prospectus forecast of 11.11 cents by 22%
-
Strong
balance sheet with net cash of $2.7m and undrawn debt facilities
of $4m New international licences for Bartercard in China,
India and South Africa poised to provide future revenue streams
and trading opportunities
-
Declared a
final unfranked dividend of 3.25 cps taking the full year
dividend to 5.5 cps
Commenting on
the results, BPS Technology's Chief Executive Officer Trevor Dietz,
said "This is a very pleasing result for BPS in its first year as a
listed company. The result reflects continued growth of our
Bartercard business, which now operates in eight countries. In
addition, management has had a strong focus on cost control which
has helped it exceed the profit forecast." The Directors
have declared a final unfranked dividend of 3.25-cents per share,
taking the full year dividend to 5.5-cents per share. For
more information contact Mr. Dietz at
mailto:trevor.dietz@bpstechnology.com or mobile +61 7 5561 9111.
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13 Essentials You Won't Learn in
Business School
"The truth is, entrepreneurs can be made you don't have to be
born with that entrepreneurial gift (in fact, most successful
businesspeople weren't)," says Michael Houlihan, coauthor along with
Bonnie Harvey of the New York Times bestseller
The Barefoot
Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine
Brand. "It all comes down to foundational knowledge and
hard work. And if you're open minded and willing to listen to the
voice of experience, you can learn the guiding principles that play
a role in building successful businesses
— and have a major advantage over many of your peers."
Read on to learn about 13 foundational habits that (along with a
healthy work ethic) will help you to become successful as an
entrepreneur: Always ask yourself: How would I like
this? When you start your own business, you'll quickly learn that
there's no class, book, case study, or industry standard that always
gives you a clear answer to one big question: Will this choice
sustain and grow my business? However, there is a simple formula
that rarely steers you wrong
— How would you like it?" "It's
quite simple: Would you like to be on the receiving end of your
actions?" Houlihan asks. "Would you work for you? Would you extend
credit to you? Would you like selling to you if you were a vendor?
As a consumer, would you buy from you? By putting yourself
in the other person's shoes, you’ll get an objective view of your
business practices and how they might need to change in order for
you to build a brand you'd be loyal to. Too often, entrepreneurs
limit their success by allowing fear, greed, or the way other
businesses do things to guide their decisions."
Pinpoint
your strengths and weaknesses. We all tend to think that we can do
more than we actually can. As a result, we're overscheduled,
overtired, over-stimulated, and overwhelmed. In the business world,
this tendency causes us to blow our skill sets, our capabilities,
and even our products and services out of proportion. That's why the
authors recommend that you work with a third party who knows you
very well. "One of the keys to success is understanding what
you have an abundance of and what you need more of — and a trusted
friend or mentor can help you make those distinctions,” Harvey
points out. “This person can help you determine how much time you
have to commit to your venture and how much money you can safely
spend, for example. "He or she can also keep you honest
about what you do and don't excel at, how you handle stress, and
when you need to delegate tasks and call in help. It will be harder
to make false claims knowing you are being held accountable."
Always keep in mind why you’re in business. Before you open your
doors for the first time, get clear on your values and goals as an
entrepreneur. Ask yourself questions like: Why do I want to build
this business? Is it simply to create a job for myself? Is it to
create a legacy, or to build brand value that I can monetize at some
point? What are my beliefs on how employees and customers should be
treated? What lines do I never want to cross? "Consider
writing the answers to these questions down and looking back at them
from time to time. The reasons behind why you want to start a
business in the first place will influence how you run it day to
day. It's important to stay connected to your values, making sure
that time and momentum don't move you too far away from them."
Become a leader in your own category. Today, Harvey and Houlihan
encourage entrepreneurship students to create their own terms,
define their own niches, and be leaders in their own new categories.
Doing so can distinguish your company and lead your product to
success. "What is your new term for defining your
product or service?" Harvey asks. "It just might catch on. Don't be
afraid to name your own tune! And don't let initial resistance or
skepticism stop you. Believe me, Barefoot Wines caught a lot of flak
from the traditional and conservative wine industry when we began to
use terms like 'personal house wine,' and 'velocity price point.'
But today, those terms have caught on — and are now used
throughout the industry." Always over-deliver. As a (probably
cash-strapped) entrepreneur, at times you may be tempted to cut
corners in order to save a minute, a hassle, or a buck. Don't.
Remember, most consumers look for products and services that provide
good value for the price. If you want to gain your customers’
loyalty, you have to offer them exactly that — and you need to make
sure that they have consistently positive experiences with your
company. "When products meet or exceed customers'
expectations, they are more likely to remain loyal and recommend
your brand to friends, family, and associates," Houlihan confirms.
"At Barefoot, we always strove to over-deliver by meeting and
exceeding customers' expectations in quality, quantity, and customer
service. "We validated the consumer's decision to
choose our brand by publicizing all of our awards, accolades, and
endorsements. And we took every opportunity to get feedback on what
people liked about our wines, and how they thought we could make it
better." Know the difference between customer service and
complaint resolution. These days, most companies have anything
ranging from one person to a whole department dedicated to customer
service. But in reality, many of these departments should be called
"complaint resolution," because that's what happens: Customers
express their displeasure, representatives try to resolve the
problem as soon as possible (often relying on a script), then move
on. "Instead of handling complaints formulaically and trying
to sweep them under the rug, see customer service as a way for your
company to get real and timely feedback about your goods and
services from the people who are using them," Harvey recommends.
"Remember, for every customer who chooses to engage with you about
your product or service, many more may be quietly taking their
business elsewhere! "Treat each customer on an individual
basis," he continues. "Ask about the customer's experience with your
product and really listen to the answers. Pass helpful insights and
ideas on to production and marketing. And most importantly, stand
behind your product. Don't rest until the customer has
something good to say about your company."
Don't treat your
employees like commodities. Rarely is employee turnover talked about
in business schools — and you won’t see it as a line item on a
business plan, either — but it has the potential to be one of the
biggest costs for your business. When a member of your team leaves,
you don’t just lose that employee; you lose her hours of training,
her institutional knowledge, her relationships outside the company,
and (in the case of salespeople) you can lose customers who are more
loyal to your former employee than the product she represented.
"It's simple: How you treat your employees directly correlates to
how successful your business will be," Houlihan states. "If you
treat them like a commodity — if you’re stingy with pay,
recognition, and benefits — they'll do only the bare minimum to keep
their jobs, and eventually they'll leave. "Never forget that
people work primarily for income, recognition, personal time, and
security," he adds. “"When Barefoot began paying for performance
(monetarily, as well as with days off, publicly recognizing employee
achievements, and more) rather than attendance, we found our best
people didn't leave because they benefited from their own
production. Those who were less productive were paid less and could
not afford to stay.
(Continued next week.)
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The Growth and Use of Secondary
Capital (New Money) Creates Unprecedented Wealth In Today's New Age
Of Possibility
There are many forms of secondary
capital — which can be defined as any financial instrument that
measures and communicates value in a common language. Would you like
to see and learn more about the many forms of secondary capital?
We have 70 free, informative and
inspiring, articles for you in our "Secondary Capital Section."
Check it out...
www.barternews.com/secondary_capital.htm.
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