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Marketing, Branding & Actions: What Do Your Business Values Say About You?

Much like personal values, business values influence behaviour and provide a set of rules or guidelines to follow. However, in a business context, values are often set and ignored.

To avoid this, business leaders must create values that can lead to action and align with the business’s overall mission. Consider the following when defining your business’ values:

Assess Your Business Strengths

Look at the ways in which your business thrives – do you have an ambitious staff or loyal customers that drive your success? Understanding your business’ strengths allows you to identify the underlying values which drive current behaviour and action.

Once you have a better understanding, you will be able to identify key values that your employees, customers, suppliers and community encompass and use these values as a basis for your business.

Formulate Rules Based On Values

Once you have identified your key values, you can create rules based on these values so staff and the public know what to expect from your business. For example, your rule might be to “continually search for answers.” This would align with the value of innovation, emphasising building on new ideas and solutions. Rules also help foster the right workplace culture, making it more enjoyable for staff and management alike.

Tie Values To Your Overall Purpose

Values should be used to complement your business’ overall mission or purpose. For example, if your mission is to educate rural teenagers in disadvantaged areas, adopting a rule such as “continually search for answers” would be appropriate as it encourages everyone involved in the business to look for new ways to meet challenging demands. Identifying key values helps align strategies and plan and create goals that serve your business’s overall purpose. It also provides you with potential for branding, marketing and accountability to your customers.

If you’re someone who often finds it difficult to make large lump sum payments for goods or services, you may want to consider looking into “Buy Now Pay Later” services.

Buy now pay later essentially means that, rather than paying in a full lump sum payment for a product or services rendered, there may be an option to pay through instalments of a certain amount over a set period to make the sum of the full amount in total. This method should allow you to pay in full for the product or service without overly straining your finances – you pay back what you can, as agreed upon when you begin the buy now pay later service.

Some popular buy now pay later services include Afterpay, Zip Pay, Brightepay, and some credit card networks such as  Mastercard and Visa, can offer buy now pay later arrangements.

Though it can be a convenient, immediate solution, it may be challenging to juggle the necessary repayments with other financial commitments. It’s not always the most appropriate method for people, and you should bear in mind your situation and ability in paying back the amounts. 

Before you sign up, keep in mind: 

  • It becomes easier to overspend with buy now pay later services, so know your limits on what you can and can’t afford.
  • You will be charged fees and costs to use the service, which can add up to a princely sum in and of itself.
  • Keeping track of your payments can be tricky if you’ve signed up for multiple services.
  • It could affect your loan applications for a car or mortgage as lenders consider buy now pay later spending just as much as your credit score.
  • Late repayments can appear on your credit report, which affects your ability to borrow money in the future.
  • Layby can be a cheaper alternative to buy now pay later, with no account-keeping or late fees to consider

If you are someone who could make use of BNPL services, you may wish to:

  • Ensure that when using the BNPL service, you stick to a set limit on what you spend so that you can comfortably pay it back later. 
  • Aim only to have one BNPL account at a time to manage payments through, rather than confuse yourself with multiple payments across different providers.
  • Always budget for bills, loan payments and BNPL payments, and 
  • Rather than use your credit card for payments to your BNPL account, consider linking to your debit account instead.

If you would like assistance in planning your financial future, help in managing your budget or some friendly advice, see us for a chat about what we can do for you.

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John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier

David and Alison Parker

I have been consulting J L Noller and Co. (more specifically Jane) for six years and during this time I have found her to be professional, efficient and easy to discuss all accounting and taxation matters with. Her office team are all polite and friendly also.

David and Alison Parker

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Carl Gillmore

I have used Jane & the team for the last 6 years for all of my business & personal accounting needs. They have always been professional, easy to talk to & available when we have needed assistance.

Carl Gillmore

Carl Gillmore Landscape

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier