The success story of conventional letterbox

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The digital side of marketing can be cost-cutting, but in the real world, a survey has shown that letterbox flyers can be more obtrusive and expensive. Letter flyers relatively grab more attention than digital marketing. Roy Morgan’s research shows that most of the leading retailers in Australia spend half of their marketing budget in this traditional channel of marketing communication through letterbox flyers. One of the most significant advantages of giving out flyers is that it will never go unnoticed. Interested people will always keep the catalogue making it easier to refer to. This conventional method has been ranked #1 among all marketing strategies as reported in Australia, which means it is sure to give a high throughput success rate.

So how can you make it more useful? Rather than just slipping a black and white paper in the letterbox is not going to make much difference. Make sure your company poster stands out from the rest of your competitors! Make it bright, use colours, use your logo and write texts that will engage your potential customer. Be direct and be precise. Using call for action texts always works. Before that, always do a background research on the type of customers you intend to target. Knowing your target customer is the key to formulate an active marketing scheme. So design your flyer in a way that will beat the rest, and will give you a definite outcome eventually. The popularity of your brand name is directly proportional to the quality of publicity you do. Thus, with the traditional letterbox flyers, you can expect a better response from prospective customers.

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Peer Business Consultation Services

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Peer Business Consulting is an upcoming consultation firm dedicated to supporting startups and small business organisation in and around the Sydney area. Our services are wide ranging and cover all the aspects of a business or startup one needs to look into before he or she starts investing. From business planning and advice to cash flow, drawing up forecasts for cash flows, designing an optimum budget sheet, project management services and support, all can be rendered to you in the most facile manner all under one roof.

We genuinely look into the well-being of our customer’s businesses and ensure that you put in your trust in us. Our services will prove to be somewhat assured that your business will not only thrive in this competitive market but also will reach new heights as we believe in maintaining the originality and uniqueness of any business. We will be at your arms end for all critical decisions and help optimise all your strategic options.

What you get when you appoint Peer

  • We provide you with a peer, a friend who will discuss with you all the options for you to avail from.
  • Our peers ensure that the advice given to you is strategically sound and not to forget realistic.
  • With the regular advice and services, you will maintain peace of mind
  • Having taken over all the tedious financial work, you can now focus primarily on running your business
  • We also help optimise your paths so that your profits are maximised. 

Why Peer is different

  1. We firmly believe in converting every small plan into reality.
  2. We will be present like your shadow in every step of your business journey.
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Innovation: Key of Successful Business

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Every organisation is based on originality and new ideas, without which they cannot thrive. The entire idea of coming up with new plans and innovation for a business is to keep things fresh which will not only entice the customers but also keep your business a mile apart from similar organisations. Some organisations that have developed tremendously through their innovative ideas are:

1. Who cares

This organisation as the name suggests is one of the most original, toilet paper companies. One cannot ignore the fact that their name not only shouts out creativity but also originality. Their colourful and quirky toilet paper will is not only 100% recycled paper, but the best part about this organisation is that up to 50% of their profits go towards developing better sanitation facilities all around the world.

2. Pet Circle

Pet circle is one of the fastest growing businesses in the world today. This Australian pet supplies company provides the customers with wide-ranging pet supplies that too on a practical basis. That is, one does not need to go to an actual pet shop to buy their pet’s food or other supplies; we can just order them online using their simple online shopping database.

3. ShowPo

The online fashion space is over-crowded and haphazard today. But online retailers like ShowPo still manage to grow and stand out as they know how to optimise their marketing channels and expand their customer pool using effective advertising via social networking platforms such as Facebook and Twitter.

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Need of Iteration and Elimination for an Entrepreneur

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Entrepreneurs face the challenge of developing their business and achieving their goals every day. What most people don’t realise is that not every business works on the principle of one entrepreneur having a breakthrough idea. Every company, to achieve a brand name globally, needs to work on several factors and iterate their options. Along with opportunities come several other drawbacks which can pull an entrepreneur down, but the key lies in eliminating these factors, and removing them consistently and regularly. This not only keeps your brand fresh and up-to-date but also decreases your business’s chances of falling into a loss.

The ability to iterate and eliminate efficiently is what makes an entrepreneur a global phenomenon. Iteration in simple terms is laying down all your prospects, discussing various strategies, setting different short-term goals in every field so that one can measure the output regularly. This is where elimination comes to play. After the six month or annual check-up, every entrepreneur can analyse where the shortcomings are, and which field requires work. If these shortcomings are rendering you high losses and now return on investment, you can now use the power of elimination to delete these features from your business prospectus altogether. Initiate strategies which are more effective in those fields and encourage new ideas, as most likely your first few ideas will reap less or no result. The combinational power of iteration and elimination can make your entrepreneurship shine amongst the several thousands of others.

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The key to a successful business venture: Yoga

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As unrealistic as it sounds, the title is probably not to be taken literally but metaphorically. It is all about being flexible with your startup or your small business. Flexibility refers to the length you are willing to go, the bending you need to do for your company and making slight adjustments to suit your business output. Starting a business is no man’s cup of tea. You need to have patience, try different marketing strategies, do surveys and finally decide on the approach that will work best for you. Understand what your business stands for and fulfil your mission and vision for the company. Sometimes we need a big budget to start off, but that is not always true. It is all about smart and economic decisions you take and strategies along with the techniques that you apply. Accept that you cannot do everything.

Just because there are 100 different marketing strategies does not mean that you can relate to all of them. Thus, use money and time wisely. Do not be afraid to experiment. Get out of your comfort zone and try innovative things. See what suits your business the best. If one strategy is not working out, just let it go. However, when it is being said and done, make sure that in the end, you strike a balance between your experiments and your actual outcome. Lastly, go with the flow and be opportunistic by taking chances and above all, take a leap of faith. You never know when you will reach your milestone.

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4 Most Common budget Mistakes of Startup and Small Business

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Every organisation, big or small requires a goof balanced budget sheet to maintain their financial accounts and create new nosiness goals and opportunities. Startups especially, need to focus on building a reasonable budget to have a clear agenda about their do’s and don’ts during their course of business. Some of the common mistakes made by startups while making their budgets are listed below:

Some most common Startup Budget Mistake
1. No Budget plan at all

The importance of discussing finances and accounts with a proper professional before starting a business cannot be stressed upon more. To make any business or startup successful and thriving, one needs to assimilate and estimate the correct quantity of investment one will need and allocate the funds accordingly.

2. Not making a budget plan for marketing purposes.

No organisation can thrive without advertisement and marketing in today’s’ world. Separate and sufficient funds need to be allocated for marketing purposes so that optimum marketing strategies can be applied, which will, in turn, increment your profit. Advertising through social media and other virtual platforms, all require some solid investment. Proper investment and budgeting in marketing can prove to be somewhat beneficial for any start-up.

3. Miscalculation of the breakeven point

Business organisers and owners cannot distinguish between fixed and variable costs due to which there are errors in the assumption of all costs that remain steady and the ones which vary concerning time, labour and other factors. This results in a wide profit margin which in turn is a downside for your startup.

4. Under or overestimation of startup costs

Several business owners are often taken aback by the expense of a startup. Most of them either ignore to account for several factors or underestimate the cost of certain aspects of the business, both which lead to miscalculation and hence a shortage of finances. Talking to a professional always comes in handy to become aware of all the expenses and legal requirements.

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Organisations and optimising colour schemes

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Colour psychology is how people respond to colours which in turn invoke different types of emotional changes in their current behaviour regarding the subject. Recent studies have proven that when people see the colour red, their rate of reaction not only amplifies but also becomes quite forceful. They seem to have a boost in energy, and there is a reduction is analytical thinking. A sense of urgency gets developed due to which they make faster decisions regarding the topic and their hearts begin to race.

This same psychology is used by several companies all over the world to optimise their advertisement strategies to attract new customers. Some organisations also apply this psychology to their day-to-day business and logos so that it has a much vivid effect on their customers. The type of colour scheme one uses to design their logo, or the interiors of their office dramatically influences the enticement level of their customers towards their product or services. The font, the words and the layout, everything plays a significant role in design. Red being a dramatic colour is associated with love as well as anger. It is programmed into a psyche such that we can sense danger whenever we see the colour red, which in turn creates a sense of urgency in the people and they’d want to click on the font which you’ve boldly mentioned in red. Being a bold and bright colour, it naturally catches attention and comes in several hues for one to use in their advertisement schemes.

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What is a Cash Flow Forecast?

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Cash flow forecasting can be defined as the flow of financial sources in the future for your business during a given period. Here the cash in incorporates receipts, taxes and any money contributed by the owner into his or her business. Whereas cash out refers to any amount paid as wages, paid suppliers, etc.

Cash flow forecast is not a very difficult task, but when undertaken manually, can lead to a lot of time consumption. Every organization needs to develop a plan for a short-term cash flow as well as a long-term cash flow.

For short-term cash flows, one needs to make a list of all the expenses one will be making, taking into account how much you spend on the resources required for the manufacturing of the products or keeping up with the services, the travelling charges, the charges as are necessary for paying the labourers and the professional charges too. All the receipts need to be kept in proper condition and be accounted for. The cashout forecast needs to be made similarly.

The same principle needs to be applied to long-term forecasting too. The annual budget and the balance sheet will help you maintain a good cash flow. Estimating an accurate cash flow is not possible, so probable measures are taken. Excel is an outstanding and widely used tool for long-term cash flow forecasting. A realistic forecast of cash position helps you maintain a better position in the market.

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How to Use Big Data for Small Business

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Every small organization or retailer has a tough time starting up as they are unaware of what to do first or next. Every retailer wants its brand name to be known globally and wants to collect umpteen quantities of customer data, but don’t really know how to go about it. The answer to that question is pretty simple. Everything needs organization, and without an agenda to collect this Big data with insight and what you want to do about it, your entire plan can go haywire.

One needs to be clear about all the rules while collecting data from different users in different countries, as every country has a different set of privacy policies. While collecting the Big data, make sure you organize it in structured formats and not in a haphazard manner, as it is of key importance to know what kind of user data you’re acquiring. The best and the safest way to keep your retailer name and fame is to start small. Every retailer needs to identify themselves their strength and work on their weaknesses so that even if you target a small user crowd, you get effective results. Start branching out by bringing in other data sources once you have settled in and completed a few campaigns. Collecting your user database will help you target your prospective customers; deliver to them the latest offers and features of your company’s services and commodities. You can use all this data to streamline your audience based on geographical regions, age, sex and many more, making your marketing job is the future much more facile.

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