Tuesday, May 21st, 2013

According to ASIC, Victorian receivership appointments are up 10% and court liquidated appointments are up 11.6%. With the growing pressure to get online and promote via social media, more businesses may inadvertently be put at risk. According to Rhondalynn Korolak, best-selling author of Financial Foreplay, “Now is not the time to get distracted by new/unproven strategies to attract leads and customers.” 

Despite the record number of small business improvement events and training courses on offer, Victorian receivership appointments are up 10% and court liquidated appointments are up 11.6%, according to ASIC March 2013 quarter results. In addition, the Federal Budget, released on May 14, 2013 did little to provide economic incentives or relief for struggling small business enterprises.

According to Rhondalynn Korolak, best-selling author of Financial Foreplay, “Many Victorian small business balance sheets are in a very poor state. Despite all the hype and media attention, the #1 reason why small businesses fail has nothing to do with social media strategies, expert status, online traffic or secret formulas for success. In fact, the #1 reason why businesses fail hasn’t changed in over 100 years – it is solely dependent on your ability to find and attract qualified leads, maximize customer satisfaction, and amplify profit and cash flow reliably and predictably.”

Earlier this week, a social media meltdown involving Amy’s Baking Company Bakery Boutique & Bistro located in Scottsdale, Arizona, became headline news around the globe and generated concern about the way in which small businesses conduct and promote themselves on social media. It also highlighted a significant risk for small businesses who get caught up and distracted by the growing pressure to get online and use Twitter, Facebook, Linkedin and Pinterest to promote their products/services.

With social media, anyone can create an online presence and broadcast their uncensored views or talent worldwide, for less than $1. Celebrities such as Justin Bieber and Lily Allen went from middle class obscurity to millions of fans and multi-million dollar careers virtually overnight due to social media. But that doesn’t prove that social media is good for business - let alone small businesses who lack the resources and PR know-how to manage a social media firestorm.

Good and bad news, whether true or untrue, spreads online like an epidemic. As opposed to advertising (which is initiated and controlled by the business), a large percentage of what is said in social networks is contributed by third parties who may have no knowledge of or connection to the business.

According to Korolak, “With consumer confidence at an all time low and Victorian insolvencies on the rise, now is not the time to get distracted by new and unproven strategies to attract leads and customers. In working with several hundred small businesses across the country, I see a lot of time and money wasted on brand awareness and social media strategies that produce no return on investment.”

Korolak has teamed up with Jo Sweeney, a brand development specialist and owner of The Recipe™ and Steven Di Pietro, Australia’s leading customer service expert to deliver a powerful half day seminar that will educate small business owners in Victoria about the importance of focusing on the 3 core fundamentals of business - finding and attracting qualified leads, maximizing customer satisfaction, and amplifying profit and cash flow.

Victorian business owners are invited to attend “The Naked Truth In Business” seminar which will take place from 8am – 1:30pm on Tuesday, June 18th in Williamstown.

Full details are available online at http://tiny.cc/7ia2ww

Photo and interview opportunities with Rhondalynn Korolak in Melbourne are available. High resolution versions of sample images can also be supplied for print media.

Contact: Rhondalynn Korolak

Imagineering Now Pty Ltd

0404 906 786 or [email protected]


Contact Profile

Rhondalynn Korolak

Korolak is a Melbourne-based lawyer, chartered accountant, business coach, speaker, best-selling author and small business marketing expert. She has been featured in/on Yahoo, CNN ireport, Skynews, 3AW, Channel 9, Kochie’s Business Builders, bNet, Fast Thinking, MYOB, Dynamic Business, Cosmopolitan and Marie Claire. Her recent books also include Financial Foreplay and On The Shoulders of Giants. Sales Seduction has already achieved a sales ranking of #6 in Canada and #32 in the USA on Amazon.com
Rhondalynn Korolak
P: -
M: 0404 906 786
W: www.imagineeringnow.com


Victorian business , ASIC March 2013 quarter results



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