One of the biggest mistakes you can make, in terms of marketing, is to target too much of the market at once. The odds of dominating an entire market, for an evolving business, aren’t likely; but you can still be quite successful by targeting a narrow, niche field. Start by researching what niche markets need […]
With interest rates constantly on the rise, it’s natural to be worrying about loan repayments. There are, however, ways you can make sure you’re not falling behind: Consider both fixed and variable loans, so you’re not caught off guard. Deposit spare cash into your loan as frequently as possible, and try to make extra repayments. […]
Do you have a business, or have you just become your own employer? Many start-ups, particularly sole traders, are jobs rather than businesses. Although a business owner attains a lot of satisfaction from the job, a business is a separate entity from the owner. One key sign you have a job not a business is […]
As a manager, at one point or another you’ll need to break bad news to your staff. How you break the news is as important as the news itself, so make sure you have cleared the facts of your own emotion before an announcement. If the news concerns a particular person, see that person first […]
You may not be able to offer your staff pay rises in the league of bigger companies, but services such as salary sacrificing could assist employees looking for ways to save. Salary sacrificing is a value offering where employees use their gross income for a purchase, additional superannuation contribution or loan. The employer takes repayments […]
Borrowing money from a lending institution is a popular way to fund a business’ foundation or growth. This is because lenders do not have ownership or operational control of the business through this form of funding. Loan interest is also tax deductible, which may be attractive for some businesses. Institutions give traditional finance on the […]
Once you’re content with your domestic performance, the next step is to look at going global, provided your product or business model is internationally transferable. There are several ways you can choose to go global, each with different degrees of difficulty, which you will need to examine in the context of your business. One of […]
Seek any advice on starting a business and the most consistent advice given is to defer to the experts on matters outside your comfort zone. Experts range from accountants and lawyers to marketing gurus and IT professionals. It’s easy to think that, once on board, an expert can take care of their domain. However, remember […]
One way to have your business stand out is to conduct research that is both important and relevant to your business and interesting to the greater public. Having research findings published ensures that your business is in the spotlight for being at the leading edge of your industry. For example, if you are a retailer […]
According to a survey conducted by recruitment agency Hudson, more than half of the Australian employers surveyed indicate an imminent restructure of their business. The Hudson Report: HR Insights revealed that 55 percent of businesses anticipated reorganising their operations this year. Half of those respondents pointed to external economic pressures as the reason for restructure, […]
