When you are a leader, it is obvious to you that the success of your team can increase your own success. People often confuse having a sense of humility with being insecure. But in truth, being a humble person is simply about considering others more and thinking of yourself less. By being humble and thinking of the people you are expected to lead more, you can increase their confidence, security… Read more
The loss of a job is one of the most devastating things a person can go through. The results of a job loss can be long lasting and the implications go far beyond the financial. While losing your job will most likely put your financial life at risk, the emotional consequences can be just as damaging. When you consider that most of us spend more time at our jobs than… Read more
Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee time at first. Now, however, email has become a productivity killer. Workers have to wade through hundreds of emails in their inbox each day, and many people choose to deal with email as it comes in rather than all at… Read more
Perhaps you’d always planned to build a thriving business to eventually sell for a tidy sum – or maybe for unexpected personal reasons it’s best to let your company go sooner rather than later. No matter what the reason for selling your business, experts agree: it’s best to be prepared well in advance as it can take years to complete a successful sale. These four tips will help you get… Read more
As we try to catch a breath from all the chaos going on with Coronavirus, we just got word of the Australian Government’s latest stimulus package. This package focuses on the ‘job keeper’ payment, aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Here a quick overview of what it means: Employers and sole traders will be able to apply… Read more
The Australian Government has announced a second stimulus package as we continue to fight COVID-19. The $66 billion dollar coronavirus stimulus provides relief for small businesses, casuals and welfare recipients. This combined stimulus of $189 billion dollars will hopefully reduce some of the impact Coronavirus is having on our community. Following the government’s first stimulus package less than 2 weeks ago, Treasurer Josh Frydenberg said “we now expect the economic… Read more
A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to… Read more
It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures, most targeted at helping small to medium-sized businesses. Here to help But first, please be assured that we are here to… Read more
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management… Read more
The future of your family business may seem like a problem for tomorrow or sometime next decade, but forward-thinking business owners know they need to plan for the future today. The steps you take now to prepare your company for the next generation will go a long way to determining how successful it remains after you retire. It’s tempting to think that things will automatically work out for the best—especially… Read more
Research has repeatedly shown that businesses that have been prepared for the owner’s exit are significantly more likely to endure than unprepared businesses. These guidelines around an exit strategy can help your business legacy live on – and get you a satisfactory result. Preparation delivers the best results The key message to take away is this: start your exit strategy now – don’t wait until that ‘later time’. Life is… Read more
We now look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies. The eight characteristics are: Owners leading by Example Having a simple business structure Information sharing among employees Staff are carefully chosen Staff commitment and loyalty A unique product or service A specific Customer focus Prompt follow up… Read more
Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business. 1. Utilise new technology Modern technology can save you time, improve productivity and reduce your operational costs. Make use of Facebook, Twitter, Google+ and other social media tools to market your business. Dropbox is a cloud-based service… Read more
In business, finding a niche that can supply enough revenue is important. More entrepreneurs than ever are realising the importance of finding a narrow set of customers and catering their product or service to them. This allows you to focus your efforts on being great at a few things, rather than mediocre at many. But how do you find your ideal target market? This article will get you started by… Read more
Deciding on an online marketing plan can be overwhelming for small business owners looking for affordable ways to nurture steady, sustainable growth. With time in short supply, the key is to find one or two growth strategies that will get results at minimal cost. These proven growth hacks offer business owners a few simple, cost-effective ideas for attracting new customers, increasing brand awareness, and ultimately, getting more sales. Build your… Read more
Very few small businesses have a huge marketing budget to work with. Fortunately, there are a number of simple, free and low cost ways to get the word out about your company that are also highly effective. These tips will show you five simple ways to promote your local business without breaking the bank. Get free press Advertising rates for local newspapers and radio stations can be way too costly… Read more
If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your business. Scheduling time to attend to these business activities on… Read more
According to Google, which offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff, the answer is a resounding yes. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and non-judgmentally.” Research has shown that practicing mindful meditation can lead to reduced stress, lowered blood… Read more
Business owners fall into two categories: those who love business travel and those who hate it. The love/hate dynamic may depend on how much you travel for work, but even if you love business travel there are stressful aspects to being out of town. Although we can’t guarantee that our travel tips will ensure a completely stress-free experience, here are four ways to lessen your hassle. If you’re someone who… Read more
If you’re like most people you’ve probably gone for periods of time without really thinking about how you spent your money. Maybe you even avoided looking at your bank statement so you wouldn’t see how much money you spent and how little you saved. It’s something a lot of people do, especially nowadays when we can spend our money so easily without handing over cash. If you’ve ever looked at… Read more