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Business was hit hard during the pandemic. However a number of businesses who successfully changed their strategy have managed to not only stay afloat, but tap into new markets and flourish during an exceedingly difficult time. This week we ask: how do you know when to pivot? Cale Maxwell, COO, LEVO The decision to pivot […]
The World Economic Forum’s Global Risks Report 2021 has unveiled an alarming risk outlook of short-term healthcare battles and long-term environmental damage and social fragmentation. “The immediate human and economic cost of COVID-19 is severe. It threatens to scale back years of progress on reducing poverty and inequality and to further weaken social cohesion and […]
Owning a business can be wonderful, however, at times it can also place considerable strain on your personal relationships. The responsibilities of work can consume so much of your time and focus that it can be difficult to ‘switch off’ and be present with those you love. At the start, your partner and family may […]
Was your business forced to implement a redundancy programme, as the COVID-19 downturn began to impact turnover and profits? If so, you’re far from alone. ABS data suggested a million Australians lost their jobs soon after social distancing measures came into effect. As business activity ground to a halt around the country, enterprises of all […]
Many of us will notice changes in the people around us and get the feeling that ‘something is not right’ or is different with them. You may not want to say anything for fear of making the situation worse or because you don’t know what to say if they confirm your concerns. While these conversations […]
Today, being disconnected from Wi-Fi would be incapacitating for most businesses. Yet Wi-Fi is a relatively recent innovation. Wi-Fi was invented in Australia just over 20 years ago by the CSIRO. Now almost all laptops, phones and tablets are connected to Wi-Fi. While most Wi-Fi chip companies compete to invent faster speed Wi-Fi chips for […]
The US House of Representatives has condemned President Donald Trump on a single impeachment count of “incitement of insurrection”, making him the first US President to ever be impeached twice. “He must go,” said House Speaker Nancy Pelosi. “He is a clear and present danger to the nation that we all love.” Mr Trump was […]
As a small business owner, you don’t always have the backup of formal social supports offered by larger employers. When things get tough there’s no manager, human resources department or Employment Assistance Program to access, so the onus is on you to be proactive about setting up your own support network. Don’t underestimate the impact […]
2020 was a year of unprecedented challenge for business owners. Almost overnight, businesses of all sizes were scrambling to find new customers and devise innovative ways to sell to existing customers. Uncertainty and fear abounded, but so too did resilience and ingenuity. At both a state and federal level, the Australian government acted quickly and […]
It is common for people working in business to be concerned with or stressed about their business finances at some point. Unpredictable income, cash flow and delayed payments are common experiences for people working in small business and these can put you at increased risk of poor mental and physical health and family conflict. It […]
The customer is always right is an adage that has been driving the way we do business for years. While the concept of customer experience (CX) has evolved, business processes have not. Today, the smartest organisations are creating competitive advantage by placing customer wants first and managing their customer experience from start to finish. In the […]
As COVID-19 wreaked havoc nationally and demand for safety equipment grew, Victoria’s regional medical device manufacturer Care Essentials pivoted its focus to produce a range of PPE products, surgical face masks and N95 respirators. “Our decision to explore making PPE masks came because we kept receiving calls from hospitals, federal and state departments asking if […]
NSW Premier Gladys Berejiklian has announced a further tightening of COVID-19 restrictions for NYE as 18 new community transmissions are detected overnight. Greater Sydney, Wollongong, Central Coast and Blue Mountains households will now only be allowed to have 5 visitors (including children) and outdoor gatherings will be limited to 30 people. The southern section of […]
Data from cryptocurrency trading simulator Crypto Parrot has found that cryptocurrency traders on Bitfinex and BitMEX lost $US13.47 billion in 2020. The data found that $US9.26 billion of long positions and $US4.21 billion of short positions were liquidated over 2020. Crypto shorting is a bet that the price of a certain crypto asset will fall, […]
The US House of Representatives has approved increasing COVID-19 stimulus checks from $US600 to $US2,000, however it is still uncertain whether these changes will pass a Republican-controlled Senate. The bill passed the House with a sweeping majority of 275-134, with 44 Republicans joining Democrats. However Senate Majority Leader Mitch McConnell has refused to say how […]
Quitting your job and following your passion is more common on theatre screens than in real life, however it’s exactly what happened with the fruit-picking robotics company Ripe Robotics. “I am a massive risk taker so I was quite happy to quit my job and put all my money into this,” said Hunter Jay, founder […]
Who could have predicted 2020? Many of the resolutions that you may have made in your business likely got swept aside in the chaos of the pandemic. As the world starts to emerge and economies recover, what are the 2021 resolutions you can make that will put your business in a strong position for the […]
While 2020 packed a punch that not many people were expecting, impending vaccines and a rebounding economy offer a glimmer of optimism for business in 2021. However improved economic conditions also mean a reduction in government safety nets like JobKeeper and cash flow boost. Properly managing cash flow in 2021 will be a precarious and […]
Many small business owners work long hours and can often be on their own. Having people around them to check in on how they are doing can make all the difference. Have you noticed changes in someone’s behaviour recently? Has a business owner you know been doing it tough financially, been impacted by a weather […]
On Monday, the parliamentary joint committee on corporations and financial services suggested that temporary amendments to continuous disclosure laws in 2020 be made permanent. The committee tabled their final report on Monday, releasing 31 recommendations to improve the litigation funding industry. The inquiry was referred to the committee on 13 May 2020 to investigate the […]
