Best reasons Business needs a Facebook Fanpage

 With over 450,000 new users joining each day – it is the fastest growing social networking site on the web. There are many reasons why your business might want to consider creating a Facebook fan page. 

We outline three of them here.

1. Everybody is on Facebook.

Well almost everyone !. But there are over 180 million people using Facebook. If it were a country, it would be the sixth most populated country in the world. Your business has the potential to reach this audience – for free.  The best way to have a business presence online is to set up a Facebook fan page. You can do this for free here.

Someone at your company will need to create a personal profile in order to do this. Most likely someone at your businesses or organization already has a Facebook account for personal use. Don’t worry – the personal account is only used to set up the business page. None of your personal information will be shared on the business page.

2. Facebook is a great place to distribute your company information.

Facebook fan pages allow businesses and organizations a place to create event listings, post their business hours and contact information, and even display photos, text, and online articles. These tools are great to display information. Your business most likely has a website already – but do you have the potential to reach over 175 million people with that site?

3. Facebook allows a two-way conversation with your customers and clients.

It works as a great feedback loop. Because a discussion feature comes pre-built into the page you can carry on discussions with your customers, take surveys, and gather feedback. Plus – you create “buy-in” when a client or customer becomes a fan of your page. They are basically raising their hand to say “Yes I want to continue a relationship with your business.”

To sum it up – Facebook is a great place to start if you are new to all this social media stuff. Because changes are coming for how you will do business. These changes are at the very foundation of how people communicate and interact online and off. 

Taking some examples of success stories 

Insurance Broker in Perth W.A. have have their bases covered, Central Insurance Brokers facebook fanpage, with more than 30,000 fans...  They're doing it well and worth following, like they say, if you want success then get a pen and paper and listen to the experts; experts means those that have a proven record.

top of website look for social media links Central Ins Brokers (Est: 1980)

A to Z of Business Insurance

For all the Risk Managers that need to know a little NOW.. here's the answer


Central Insurance Brokers produced an online menu of Insurance Policies from A to Z


Scroll for the product of interest and discover the basics,

• The purpose of the cover
• The settlement options
• Level of cover
• Rating factors - What's need to get a quote
• Premium - approx costs
• Excess 
• general tips

The background of Insurance
Our forefathers introduced risk sharing schemes centuries ago. They reasoned that some risks do not occur with great frequency, but when they do occur they bring disastrous consequences to the individual. The occurrence of the risk itself cannot be avoided, but if the burden were to be shared by a large group the resulting economic loss could be shared.

What you can do 
1. Click the link below to view the Menu online
2. Download the PDF version which has full hyperlinks to all sections of the document (100 + pages)
3. Phone their office 08 93688 999 and speak to one of their account managers for immediate attention

be sure your Second Startup Will Outshine Your First

What do the founders of Netflix , Zappos, Whole Foods, and Alibaba.com have in common?Image via Wikipedia

They were all started by entrepreneurs in their second (or third) act:

• Before Reed Hastings founded Netflix, he founded Pure Atria Software, which was eventually acquired by Rational Software. Soon after the acquisition, Hastings took a couple of years off to think about his next business, which would be Netflix.
• Before Zappos, Tony Hsieh founded LinkExchange, which was acquired by Microsoft for $265 million in 1999.
• John Mackey started a health food store called “Safer Way” in a garage years before he founded Whole Foods.
• Jack Ma founded China Pages four years before he launched Alibaba.com in 1999.

Image via WikipediaTake a look around and you’ll find that many entrepreneurs find their biggest success in their second act. In fact, I’d argue that having a chance at a second act is one of the best reasons to build your first business to sell it.

For starters, the second time around, you can bring all of your knowledge, contacts, and capital to a new idea, but I also think there are subtler factors that often make second acts more successful than the first:
1. You’ll feel less pressure.
When you are scraping tooth and nail to make something of your first business, every decision feels like do or die. Like a 16-year-old driving on the highway for the first time, new entrepreneurs tend to be a little heavy on the wheel, blowing every small problem into a life-threatening emergency (I know I did). In a second act, entrepreneurs mellow a bit and have a steadier hand at the wheel. Once a business owner has become financially independent, the pressure to succeed to feed your family is off.

2. You’ll be a better leader.
Being a bit mellower, entrepreneurs in their second acts often are better bosses. They tend to be a little more willing to give others credit and let juniors make mistakes — within reason — instead of micromanaging every detail. Like a parent who enjoys coaching his kids more than playing, the second-act business owner wants to succeed as part of a team, not just as an individual.

3. You’ll be motivated by a higher cause.
Once entrepreneurs are no longer motivated exclusively by making money, they are forced to find larger reasons for doing what they do — to start to think of how they can have a bigger impact on the world and make a difference. Being motivated by something other than money makes a founder much more likable as a leader and, therefore, better able to attract good people — loyal employees, partners and board members who want to contribute to a cause — to their mission.

So go ahead and build your first business — get the pressure, the mistakes, and a little bit of success out of the way. Then sell it and get to work on an even better second act.

John Warrillow is the author of Built To Sell: Creating a Business That Can Thrive Without You, which will be released by Portfolio/Penguin on April 28, 2011.

Fraud - 10 Questions To Ask Yourself

Fraud risk remains a constant problem for the General Insurance Industry. The consequences of this risk are not exclusively financial; they can also affect the organisation's reputation and as we have seen in recent events may result in an investigation by regulators.  Here are some of the questions you could ask that can help identify and control fraud risk in your organisation: Have you identified high risk areas for fraud? Are the right people involved in high risk decisions? Are the right number of people involved in high risk decisions? Are appropriate background checks carried out on employees and representatives? Are there processes in place to monitor and manage outsource suppliers? Are relationships between staff, clients or suppliers managed and monitored? Is there any system of peer review or file audit? Do you undertake external audits of your compliance system? Do you undertake external reviews of your business processes? Do you undertake “mystery shopping” or other monitoring and supervision activities? While the risk of fraud can never be eliminated, we can all stay vigilant to reduce the likelihood of it occurring in your business.  If you would like any assistance in managing your fraud risk, please contact Gold Seal 03 9510 5100 or submit an inquiry on our website.

What is misleading or deceptive conduct?

"Misleading or deceptive conduct" is a term of major importance in relation to all businesses' dealings with other parties. 

Its prohibition can be found in the Australian Consumer Law (which is contained in the Competition and Consumer Act) and the various State and Territory Fair Trading Acts, which prohibit businesses from engaging in misleading or deceptive conduct in trade or commerce.

 

Conduct will be misleading or deceptive if it induces error, or is capable of inducing error, in an ordinary reasonable person.  When determining whether conduct is misleading or deceptive:

• it is the overall impression that counts;
• the dominant message is the most important, not the "fine print".  

Misleading or deceptive conduct can consist of spoken or written words or any other conduct such as gestures, body language or even silence or lack of response. A company can engage in misleading or deceptive conduct by reason of the actions of its officers, employees or agents.

Conduct can give rise to liability even if:

• it has not actually misled anyone.  All that is necessary is that the conduct is likely to mislead or deceive people;
• the person making the representation acted honestly and reasonably.  All that is necessary for liability to arise is that the conduct did, in fact, mislead or deceive; and
• the affected person did not make proper inquiries, or could have discovered that the conduct was misleading or deceptive had they investigated the matter.
• The above definition is quoted from website Australia Gvt small business

Steadfast float attracts all majors

Steadfast managing director and CEO Robert Kelly has revealed that “several” network brokers have expressed an interest in the allocation of IPO shares.

Kelly made the statement yesterday as the cluster group issued a replacement prospectus, outlining that the final number of shares to be issued to vendors will be 135 million, with plans to raise $334m from investors.

“The replacement prospectus is an important milestone in the IPO process,” Steadfast managing director & CEO, Robert Kelly said. “A large number of vendors have opted to receive consideration shares as part of the IPO Acquisitions. In addition several network brokers have indicated an appetite for an allocation of shares in the IPO Offer.

“The IPO is on track and progressing as planned, and I look forward to the weeks ahead.”

The consideration shares will be issued following the elections made by relevant vendors of equity interests in businesses being sold to Steadfast (IPO acquisitions), following their review of the prospectus.

All consideration shares are subject to escrow restrictions from the date of the issue of those shares until 31 August 2014 (subject to certain early release conditions referred to in the prospectus).

The total shares on issue immediately after completion of the IPO will be between 490 million and 545 million.

The IPO will be offered to certain investors at an indicative price range of $1.00 to $1.20 per IPO share with an expected market capitalisation of $545m to $587m based on the Indicative price range. The final price per IPO Share will be determined at the conclusion of a book build process on or around 30 July 2013. The final price may be set within or above the indicative price range of $1.00 to $1.20 per share.

Upon listing, the vendors together with Steadfast network brokers are expected to hold 37-41% of the shares in Steadfast, reaffirming their commitment to the business and its future success.

The IPO is conditional on achieving a final price of at least $1 per IPO share, Steadfast completing acquisitions representing at least 93% of the aggregate purchase price of all Acquisitions, ASX granting conditional listing approval and final board approval.

The prospectus is available in electronic form at www.steadfast.com.au. Eligible investors should consider the prospectus and read it in full in deciding whether to acquire Steadfast shares. If you want to acquire shares, you must complete the relevant application form in, or which accompanies, the prospectus.

Perth has it's lion share of Steadfast Insurance brokers, some of the most notable are

• Central Insurance Brokers, South Perth 

• Phoenix Insurance brokers, South Perth

• Centrewest Ins brokers

• LTM Risk Brokers 

Disaster “funding paralysis” Industry needs to lead

“As leaders of our respective communities, we need to work together to develop a national long-term approach to managing natural disasters by investing in a co-ordinated resilience response that focuses on prevention,” he added.

The insurance industry must do more than just pay claims in times of natural disasters, they must be leaders too.

These are the words of CGU CEO Peter Harmer who told a breakfast briefing of key government officials, business, community and emergency services stakeholders there was a collective responsibility to prepare the nation for natural disasters.

Turning to insurers, Harmer said their own role was more than just paying claims. “I believe we have a leadership role to play in addressing the funding paralysis that undercuts government effectiveness in delivering necessary prevention,” he said.

He also called for stakeholders to build a collective responsibility to natural disasters to build the nation’s capacity to respond to natural disasters and ensure that future generations are protected.

 “The financial and emotional burden of natural disasters is immense and the human toll is even more confronting,” he said. “In just the last four years alone, natural disasters in Australia have claimed more than 200 lives and directly affected hundreds of thousands of people.”

He highlighted the importance of identifying and prioritising pre-disaster investment activities that deliver a positive net impact on future budget outlays. “By identifying and prioritising pre-disaster investment activities that deliver a positive net impact on future budget outlays, we can build disaster resilience and safer communities.”

However, he conceded that managing natural disasters was more than just the economic cost.

 “It also has long-term psychological and physical costs to our communities which, if better managed, could be avoided. Natural disasters are enormously stressful, turn lives upside down and take away our sense of security,” he said.