If you sell your business including your customer database, you will be "trading in personal information."

I have been told that there should be minor problems with privacy on a business transfer. This is because personal information remains with the same business entity. This has never been a problem with my clients yet. 

Also, be aware that when you sell your business, you will have to sign a document that your assets, such as the computer system, are functioning. That they are fit for running your business. It is correct. On this, I have seen court cases fought over. The new owner may have very different ideas over what is a functioning computer system than you do. An old computer on its last legs became part of a small claim against the old owner. The new owner argued that it was junk and was sold as working. If there is something wrong with the system's information, you can be charged the cost of fixing the problem and any associated costs. This cost can be expensive. A week of work for a computer consultant, the new owner and an accounting office person can add up. 

Now that brings us to the issue of your customer data. As a rule, you can sell the information required for the new business. If the debts are sold, then the new owner has to have the financial information on the customers. If the debt is not sold, the new owner should not get it.

The main rule used for the rest of the data is that it should be *de-identify*. This means that the data cannot identify a person to the data. So your stock sales figures are good to give because knowing you have sold five toys does not tell the new owner who brought those toys. But, if the business does need the information for the new owner to function, it should be okay.

In the utility section of our software, you will find tools to help you *de-identify*. Select the ones that you need.

Note that we are not lawyers, so get some legal advice on this from an expert, e.g. a business agent and/or lawyer. Make sure this advice is in writing. I am telling you what these people have said to me over the years.

This question gets asked a lot. Here are some thoughts on what people say.

Buying

This is now the preferred way of doing it. Computers today are not as expensive as before, so the outlay is much less. It is by far the easiest, quickest and cheapest way. If you have the money, this is your best route.

It also has the added advantage of locking in your Instant asset write-off. On a $5,000 outlay, you can save about $1,000 on cash flow with this here in the first year so reducing your outlay to $4,000

Finance 

One option is to get a consolidated loan for the business and add the computer to this loan. The payment and rates generally are better here, plus you get more flexibility.

There are a few other options here. From what I see, most people prefer leasing. 

The first point is that you introduce another person in the sale, and that guy will want to get paid. Computers do not attract the best rates so it's dearer. The big plus is that it does mean less cash needed upfront and allows you to plan your budget. One disadvantage is that a lease is hard to change once it is in place if your situation changes. 

As interest rates are expected to go up soon if you are planning to lease, I recommend locking it in now.

Renting

You are moving the finance company to the computer supplier. This is without the benefits of a detailed legal contract to govern the transaction. Generally, they want a high fee upfront to cover the computer and installation. Then payments are forever. You never own the item no matter what you pay. You also lose certain tax benefits. Plus, if you don't pay, your software stops and people suddenly lose access to their data.  

Summary

Without a detailed study of your situation, it's challenging to pick one choice over the other.

I would suggest talking it over with your accountant.

While gift bags are more expensive than wrapping paper and the immediate problem is that wrapping paper has recently gone up a lot in price. So now is a good time to learn how to wrap items so you can save some money during the holiday season. 

Gift wrapping is a popular service many retailers offer.

It distinguishes its products from other retailers.

Although gift wrapping is popular all year round now is an excellent time to offer such a service. Learning to do it is not difficult and only takes a little practice. Once you get going, you may consider having * free * and * luxury * pricing services. Luxury includes a card, so a toy becomes a beautiful gift wrapped in attractive wrapping paper with a card.

This method can be used to wrap even difficult items like cups.

This is the finding from the Microsoft Customer Service Study here. 

90% of customers value the quality of customer service when choosing or remaining loyal to a brand. 

When asked how many stopped doing business with a brand due to poor customer service?

About 60%, more than half. I can relate to that. I stopped doing business with the NAB bank because of terrible customer service.

What I found surprising in the report is what the main problem with customer service was not actually how polite or friendly they were but

* The inability of the agent in understanding their problems.

* The lack of knowledge of the agent handling the problem.

*The inability of the agent in resolving their problems.

Obviously, people are looking for companies to provide solutions to their problems. I can relate to that too. I went looking for a war game to buy as a present for a friend. I went to a shop, and they had the stuff but not a clue on the product. I was unsure, so I looked in another shop. They had a guy who played and knew these games. He was a big help, so I brought the game there.

Your staff need to know their stuff, be helpful or it will cost you.

As a result of the pandemic, the public has gotten used to planning to get goods in time for festivities. Plus, with these supply problems we are going through now, the public feels that retailers will not have adequate stock for Christmas. So the public has started its holiday shopping. Christmas products are now being brought early than usual, e.g. "gingerbread house" and "letter to Santa" kits. 

The public is buying ahead.

As a result, major retailers are already starting their holiday programs.

I would suggest that you start too you have now about a month.

If the delivery service you use Australia Post.

The problem here is that missing an ATO deadline can often, in fines and cause problems. Now our software was paired with ATO software, so giving our clients warning of the ATO key dates. Unfortunately, this ATO software was discontinued. Now we can no longer do this.

So it is advisable to check the ATO's key date page here manually and regularly. Then write down these dates in your diary with a date when you have to go back to this site. I would not suggest just trusting your bookkeeper.

If you will be late, my advice is to notify the ATO in advance as often they are helpful.

If so, make sure you get a reference number from the ATO.

What you need to check now is your Christmas trading hours this year. Many of you will need to change your regular Christmas business hours this year. We can see that this will be different everywhere as each of the states governs opening hours. Also based on current trends it may also depend on the category of your business and where it is located.

Since the public is confused too, I suggest that you make your hours clear on the front of the shop and update it as time goes on. So something like this above is ideal as well as that consider adding it to the receipt your opening hours.

The immediate problem we often see is that if someone has the ambition to connect to the Internet, they need a logo. Soon they discover that a company logo is a small and huge problem, a trivial and significant problem as a logo is a symbol or image that identifies them. It is a representation of your business and finding this can be a stressful process.

Remember there is no right or wrong here! Everything is based on thoughts and emotions, and everyone has different feelings. No matter what you do, what you spend, some experts will come and tell you, "it sucks." No matter what you do, you are wrong! Learn to live with this!

If you want to see what these experts think take a look at this review by an expert logo designer of five other expert logo designers.

Why I do not agree is that these logo designers are used to designing for large organisations or software that people use daily. We do not need the logo to be told what apple or IBM do because they have high brand recognition and spend fortunes in advertising. Few SMB has this so it is something else to create for SMB businesses.

Still, these experts do not ask for much and if you want a logo, this is clearly good value.

Your logo needs to be scalable.

What you need to consider first is how do you want to represent this logo. Logos are used in a wide variety of places. You need it as a tiny icon on your website that no one can read much on it. You also need it on a large sign outside the store. we call this scalable. It has to look good big and small.

What you need is something simple

You want something simple, the less in your logo, the better. I suggested that you look at your company name. Try to shorten it as you want the least. Volkswagen uses VW. International Business Machines uses IBM. POS Solutions Australia Pty Ltd uses POS Solutions.

What you need is something readable

You do not want complex writing styles, nor too much shading, relief or shading. Overcomplicating your logo will lead to readability issues.

What you want is something exciting

It has to stand out.

Think of your customers, what colours do you like? Pink, for example, works well with girls, but some guys find it unpleasant. In my experience, you can't go wrong with bright blue, red, and green. Bright purples and yellows, I have mixed feelings about these, but many like them. But too many colours are terrible, two colours are best, three are good, and four are starting to get too much unless you are google, but that is another story.

Now if you want to try your luck first in making a free logo, read on...

Now review in your shop, your biggest departments, we are going to list them. Make them as short as possible without becoming difficult to read.

Now we need a logo generator. The one I use is this free one here but there are many others online that are good. I do not recommend paying much for a logo generator as for similar money you can get on Fiverr and expert.

Now I would use on this website.

Name: <Your company name>

Tagline: <Biggest departments>

Now, look at the results until you find some that you like. You want about five on your shortlist. Then you may want to adopt one immediately or if nothing at the end really suits take them to an expert to come up with them as an example for what you sort of want.

Let me give you an example we have a SMB business: John Carter Cakeshop Pty Ltd for the logo I would shorten it to "JC Cakeshop", that would go in the name.

It is a Bakery: Bread, Cake and Pies so in the tagline, I would put in "Bakery: Bread, Cake and Pies" 

Give it ago and see how you go!

Remember, even if you have a logo that you love, it will eventually become outdated, lose relevancy or need an updated design. 

Too many people now are looking at last year when Halloween due to COVID-19 was dicey.

Today, many people are interested in Halloween costumes and makeup. Families want to join in the festivities so this is not only for children anymore but also for the parents and surprisingly for people's pets.

Most retailers are scared of these product ranges as if they do not sell over Halloween, they are stuck with unsellable items. Still, many of the popular items are not Halloween items, e.g. facepaint, vampire teeth, fairy costumes and makeup. So I would suggest while there is time to look into it.

Let us start with this:

Move your router.

Often this is the quickest and easiest.

It should be high up and in a place where you can directly see your router. There should be nothing blocking the signal, e.g. metal, glass, concrete etc.

Electrical equipment can also interfere. Keep the router from industrial equipment, lifts, air conditioners, microwave ovens, etc. A sign that this is the trouble is when the Wi-Fi works, fails and then works.

Move the router to a spot and test again till you find a good place where it is not an eyesore.

If your Wi-Fi in the shop is still slow, here are some more tips to try first, but we are getting technical.

Now find out what channel you use for Wi-Fi. Typically it is 2.4 GHz, but some technicians, as I do, often set it to 5 GHz. There is no right or wrong here, sometimes 2.4 is better, and sometimes 5 is the way to go.

Once you have this, get an app Wi-Fi Analyzer.

Now select the appropriate option 2.4 or 5 in the Wi-Fi Channels

Now check the strength of the signal in the places where you use the Wi-Fi. Wait and look, you need a signal better than -80 dBm. Aim for at least -60 dBm. Anything less than that is considered unreliable.

If you can try to reposition the router to a better spot.

Still need more ideas.

Now on the Wi-Fi Channel check whether your neighbours’ Wi-Fi Networks are many. They may be interfering. This is why in shopping centres, people often have trouble. If you see many networks, try seeing the situation on 2.4 or 5.

If that is better, consider switching channels.

Still, need more speed?

Upgrade the firmware of the router.

It’s always a good idea to check for the latest firmware anyway. Talk to whoever you got the router first about how to do this. While you are at it, check your security settings. On some cheap routers, technicians often reduce the security settings to speed it up. Today a router should always be at strong security. If your router needs a reduction in security to get a decent speed, I suggest getting a new router.

Let me know if you need to know more.

Halloween was once considered American here, even though it's Irish. Over the years, as you can see, interest in it has been growing in Australia.

Today, it has become an annual event here too.

It is expected that Australians will spend big on this Halloween this year. What the public will be looking for are costumes, candies, decorations and greeting cards. Consider that many of the public with the conditions the way they are now will have trouble getting these products. Why not do something for Halloween?

I am sure that Australians will spend scary amounts this Halloween.

These are some photos of shop windows I saw the other day.

The front window is now more critical in many shops than ever before because today, no one is just browsing.

Your shop needs now

1) A website with Click and Collect, something that your POS Software has inbuilt. 

My recommendation is to advertise your Click and Collect as immediately available. Click and Collect takes several days to complete for most majors. For those who require it immediately, this is not a suitable option.

What you are saying “This item is in stock here, and you can get it now.” 

2) A Facebook page

It can do Message and Collect

3) A Call and Collect service. Make sure that people can see an ID number from the shop window so if they like it and want to order it, they can order it over the phone.

I often hear people mixing up the terms markup and margin. 

It is mainly due to suppliers trying to confuse merchants as a 33% markup sounds better than a 25% margin. 

It is crucial that you fully understand the difference as it will help you price your goods correctly. 

Firstly here is the calculation. Note all calculations are done here EX GST.

You sell an item for $20. 
This item costs you $15. 

So gross profit is $20-$15=$5

Markup

A markup is what extra you put on an item cost for your profit, which is $5.

It is generally quoted as a percentage, so it is calculated as
(Gross Profit)/(Cost)x100% 
=$5/$15 x 100%
=33%

Margin
A margin is what you keep after making the sale.
The gross profit is the same here of $5

Margin is also generally quoted as a percentage, so it is calculated as  
(Gross Profit)/(Retail price)x100% 
=$5/$20 x 100%
=25%

I recommend that you only use margin so you will be consistent throughout the shop.

To change Markup to Margin use the following formula.
Margin = (Markup / (1+ Markup)) X 100
= 33%/133%x100%
=25%

See the table above I constructed for you to get the margin from a quoted markup quickly.

These sorts of emails are, regrettably, common now. COVID has made business peoples lives difficult. In spite of the best efforts of delivery people, everyone currently is encountering delays and lost parcels.  

Fortunately, most people now understand the obstacles. 2021 is a challenging year for everyone. We are all trying to do our best to make it easier.

In my experience, the sooner you notify your customer, the easier it is to deal with the problem. Let them know by a call or email there is a problem. Give your customer the carriers new delivery date if possible, the carrier's reference number and contact details. That may get you out of the loop. 

What you need to do is let your customer know that you are here to support them.

If you do a lot of shipping with one carrier, we have several carriers integrated to automate this process. Unfortunately, many of these are not free services from the carrier but subscription services. So there is a cost for this service.

About two weeks ago, I noticed that sales related to children are increasing in the United States. After receiving comments, I decided that if people like my tip, why not provide another category that experts expect to perform well?

In the past year, outdoor-related products have flourished. People that sell products related to any outdoor activities, bicycles, outdoor sports goods, etc., when open are doing well. Not surprising as one of the few activities many during lockdown can do is go outside for exercise. So consumers are looking for activities to help them stay occupied so they are paying more attention to the outdoor lifestyle away from indoor social activities.

Interest in these activities will continue as these lockdowns have been going on for more than a year, so it has become a habit for many. Plus, COVID will still be with us for a long time,

I suggest you investigate such items. See what products you can sell here. The list is endless, eg outdoor games for kids, outdoor furniture, backpacks, thermos mugs, bicycle accessories, etc.

Consider building an outdoor department as it looks like a robust category.

Here is the finding from the latest edition of the UK ACS Local shop report.

This was taken after more than a year of COVID. Like here the UK public had to go to their local shop. If these figures are true in Australia, then 40% of your customers know your staff, and 76% interact with the people in your shop.

Select your staff wisely.

As a parent, I know that kids are good at getting us to buy things.

Figures from the US retail sales show child-related sales at a 12% increase on 2020. For example, total back-to-school spending in the United States will reach a record $37.1 billion this year, compared to $33.9 billion in 2020.

There is no reason to believe that this trend will not happen in Australia too. So it can be expected that toys and back to school items are set to become a strong category.

So it would help if you got ready.

Use your top selling report to see what you are selling well in these categories then check here a list of toys selling well in the US that you may want to look through.

Currently, Facebook is pushing its Facebook WiFi service to businesses. 

It is a free WiFi service that you can offer people in your area. The promise here is that you can provide a public secure WiFi network with a small amount of time and cost. 

In exchange, they will increase your exposure on Facebook. so giving you much free advertising. What Facebook asks the WiFi user is for a Like or Check-in for your business page. As the average person has many people on their Facebook page, that is a great way to increase your exposure *FREE*. Plus you will get many new reports, e.g. demographic information about the people in your area. You would then know what Facebook thinks are the people who are similar to your customers. This would reduce the cost of reaching potential people, some of who will become your customers using Facebook ads. 

Is your shop near a suitable area? 

Say you had a nearby place where people sit and use their mobiles and laptop. Examples might be a bus stop, tables where people sit, eat and drink, e.g. pubs, etc. 

If the answer is no, then you can stop reading now. 

Internet issues.

Some of you will need to upgrade both your internet plan. How much would you need? I am not sure. You may need to talk to your ISP.

Also, it does not work on all routers. You would need to check this out in advance. You may need a new router.

Is it easy to set up?

Clients who have done it say that it is not easy. One computer literate user told me that "I found an access point that had Facebook WiFi.. was a lot of stuffing around to set it up. Then creating a Facebook app then linking the AP to it was not easy." 

I suspect that if everything is correct, we are looking at a small amount of time. Otherwise its a not quick, especially if it is your first attempt. 

Summing up

If you have a business that ticks the above boxes, *YES*. 

Although it is probably not as simple as advertised, Facebook WiFi does much of the heavy lifting when setting up a customer WiFi portal. Most of the settings required for getting a customer WiFi portal running is done for you. Much of the legal responsibility is passed on to Facebook. Also, it can link into your Point of Sale Software.

So it's worth investigating to see if it will work for your business.

If you want to know more, then click here.

What are customer satisfaction surveys?

Customer satisfaction surveys are surveys sent out to your customers. These help you to understand what your customers think about their experience with you. Many large organisations use them today. 

Why is customer satisfaction important?

If customers are not satisfied, then they are looking elsewhere. They can be buying from you, but they are looking. Soon they will find someone. 

Why collect customer feedback?

Easy to do once you have many of their email addresses. Which is not hard to get, make a loyalty program with the condition that no discount is payable unless the person signs up to the loyalty program. If they are accepting the offer, why should they not receive the opportunity to get more offers? 

Now you do not need many. Mathematically a 100 people answering gives you a 10% error, which is more than good enough for this business purpose. 

Many services are free to send it out. The one we use is Mailchimp. As it is free, why not use it. If it does not work out, you can always try something better or drop the idea. At least you will know better at the end what you need.

Are we practising what I am preaching?

*YES* 

Over the past few weeks, many of you have noticed that we are sending these out. The reading of these surveys has shown us much interesting information. 

I ask you to keep filling them out. I can assure you that every one of them will be read and thought about.

I also ask you to consider using them too.

Hopefully, you have finalised enough of the stocktake, gone through the stock. Now it's time to unload the stuff that did not sell.

The best way of doing it is a stocktake sale. Take the items, put them around a stand, put a sign on top and see how you go.

Others are doing it, why not you?