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Is Franchising For You?
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MY TOP 5 TIPS
Rachel Argaman
CEO, Toga Hospitality
(Medina Apartments, Vibe
Hotels and Travelodge)
1.
Inspire an overall vision
of success.
We are all looking
for something to believe in, for
meaningful work that we can
be proud of. Ensure your team
knows what the long term
vision is, how they can
contribute to its attainment
and that what you are all
working for is worthwhile.
2.
"Culture eats strategy"
­
Make sure the culture of
your company is happening by
design, not by default. You are
the cheerleader of your
company. Model the right
values, encourage and thank
your team, set short and
medium term goals and
celebrate their achievement.
3.
Deal with it.
If something
needs to be done, do it ­ don't
put it off because it is diffi cult
or unpleasant, delay will only
make it more so. If something
needs to be said, say it. Honest
feedback is the most important
obligation you have to your
team.
4.
Hire the right people and
look after them.
You cannot
achieve anything without the
right team. Any short cut here
will cost more than it saves
initially.
5.
Be Happy.
The simplest
defi nition of happiness is "to
love, and be loved" ­ so take
the time to spend with loved
ones and let them know
you care!
The COWculator:
reveals the `cost-per
-wear' for new clothes by
amortising the total cost
across the number of
times the buyer is likely
to wear the garment.
You can now justify your fashion
splurges with an innovative on-line tool
to determine the real cost of wearing
the latest designs. According to the
COWculator for example, an $800 suit
worn only once per week `costs' only
$15 per wear over 12 months, or just
$7.50 per wear for two years.
Maximise Your Tax
Deductions
· Make a deductible contribution
to super before 30 June.
Contributions to super provide
a powerful deduction for your
business and ensure your
retirement "nest egg" grows
over time.
· Make a $1,000 personal
contribution to super and obtain
the $1,500 Government Co-
Contribution. If 10% or more of
your annual income comes from
"active" income i.e. business,
employment or both and your
total income is less than $30,343
or up to $60,342 you could
be eligible for a full or part
Government Co-Contribution.
- Partlett, Chave
& Rowland Accounting
www.pcraccounting.com.au
Open Plan, Good Plan?
Jim Taylor from Work Fit Analysis suggests asking two
questions; Are some industries less suited to open plan offi ces
and vice versa? And can something be done to reduce noise
and improve privacy within an open plan design?
According to Taylor, unless these questions are addressed, the
20% cost saving could be a false economy in the longer term,
given possible increases in stress related health problems and
decreased productivity. www.workfi tanalysis.com.au
www.theskinnycow.com.au/cowculator
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june/july 2009
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